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1994-03-17 Emergency Called Meeting
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1994-03-17 Emergency Called Meeting
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City Meetings
Meeting Body
City Council
Meeting Doc Type
Minutes
Date
3/17/1994
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• • <br />"Bond Ordinance") to be on deposit with the Paying Agent/Registrar for such purpose as hereinafter provided; and <br />such check shall be sent by the Paying Agent/Registrar by United States mail, fu-st-class postage prepaid, on each <br />such interest payment date, to the registered owner hereof, at its address as it appeared on the last business day of <br />~~ <br />the month nett preceding each such date (the "Record Date) on the Registration Books kept by the Paying <br />Agent/Registrar, as hereinafter described. In addition, interest may be paid by such other method, acceptable to the <br />Paying Agent/Registrar, requested by, and at the risk and expense of, the registered owner. <br />THIS BOND is one of a Series of Bonds dated as of April 1, 1994, authorized in accordance with the Constitu- <br />tion and laws of the State of Texas in the original principal amount of $7,445,000 FOR THE PURPOSE OF <br />PROVIDING FUNDS TO REFUND CERTAIN OF THE ISSUER'S OUTSTANDING OBLIGATIONS (as described <br />in the preamble to the Bond Ordinance). <br />REFERENCE IS HEREBY MADE TO THE FURTHER PROVISIONS OF THE BOND SET FORTH ON <br />THE REVERSE HEREOF, WHICH PROVISIONS SHALL HAVE THE SAME FORCE AND EFFECT AS ]F SET <br />FORTH IN THIS SPACE. <br />IN WITNESS WHEREOF, the Issuer has caused this Bond to be signed with the manual or facsimile signature <br />of the Mayor of the Issuer and countersigned with the manual or facsimile signature of the City Secretary of the <br />Issuer, and has caused the official seal of the Issuer to be duly impressed, or placed in facsimile, on this Bond. <br />CITY OF LA PORTS, TEXAS <br />R7CxxxxxxJCRx7Cx JCxxx7UCxxxxxxx <br />City Secretary Mayor <br />City of La Porte, Texas City of La Porte, Texas <br />[Form of Back Panel of Bond] <br />THE BONDS are issued pursuant to the Bond Ordinance whereunder the Issuer covenants to levy a continuing <br />duect annual ad valorem tax on taxable property within the Issuer, not to exceed $2.50 per assessed $100 valuation, <br />as provided in Article XI, Section 5 of the Texas Constitution, for each year while any part of the Bonds are <br />considered outstanding under the provisions of the Bond Ordinance, in sufficient amount to pay interest on each <br />Bond as it becomes due, to provide a sinking fund for the payment of the principal of the Bonds when due, and to <br />pay the expenses of assessing and collecting such tax, all as more specifically provided in the Bond Ordinance. <br />Reference is hereby made to the Bond Ordinance for provisions with respect to the custody and application of the <br />Issuer's funds, remedies in the event of a default hereunder or thereunder, and the other rights of the registered <br />owner. <br />THIS BOND IS TRANSFERABLE OR EXCHANGEABLE only upon presentation and surrender at the <br />principal corporate office of the Paying Agent/Registrar. If this Bond is being transfened, it shall be duly endorsed <br />for transferor accompanied by an assignment duly executed by the registered owner, or his authorized representative, <br />subject to the terms and conditions of the Bond Ordinance. <br />ANY ACCRUED INTEREST DUE at maturity or upon the redemption of this Bond prior to maturity as <br />provided herein shall be paid to the registered owner upon presentation and surrender of this Bond for redemption <br />and payment at the principal corporate trust office of the Paying Agent/Registrar. The Issuer covenants with the <br />registered owner of this Bond that on or before each principal payment date, interest payment date, and accrued <br />interest payment date for this Bond it will make available to the Paying Agent/Registrar, from the "Interest and <br />~~ <br />Sinking Fund created by the Bond Ordinance, the amounts required to provide for the payment, in immediately <br />available funds, of all principal of and interest on the Bonds, when due. <br />IF THE DATE for the payment of the principal of or interest on this Bond shall be a Saturday, a Sunday, a <br />legal holiday, or a day on which banking institutions in the city where the principal corporate trust office of the <br />
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