05-23-1938 Meeting - Laserfiche WebLink

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MINUTES LA PORTS CITY COUNCIL MAY 23,193$, 8 :00 P.~". On tt~.is 23rd day of May,1938, the City Council of the City of La Porte, Texas, convened in regular session ~rrith the following named member$ present viz: Geo. H. Sharp red P.. Ruff Frank R. Boyle C.M. Agee J.~?. Roark Mrs M.O.Lambly Mayor Aldermen City Secretary Absent P.L. Benson And Alderman Ruff introduced an Ordinance No. 268 entitled: "A1'1 ORDINANCE OF Th~E CITY GOUNCIL OF THE CITY OF LA PORTS, TEXAS, AUTHORIZING THE ISSUANCE OF X11,500 CITY OF LA P~RTE FUNDING BONDS BEARIR'G INTEREST AT THE RATE OF l~ PER. AP;1L'tlM FOR THE PURPOSE OF FUNDING AN E~,UAL AP~iCUNT OF CITY OF LA PORTS 6 o SEY~ER WARRANTS AND TuIATL'RED IN'TE'REST COUPONS THEREOF; PF~ESCRIBING THE FORM ANV NiATUP~ITIES OF SUCH BONDS; PROVIDING FOR THE LEVY, ASSESSP,~ENT AIv'D COL- LECTION OF TAXES OPd ALL TAXABLE PROP~TY WITHIN THE LIMITS OF SAID CITY TO PAY THE INTEREST THEREON AND CREATE A SINKING FUPTD WITH ~fiICH TO PAY THE PP~INC,IPAL AS IT P~~iATURES; DE~LAFtING THE VALIDITY OF THE WARR.APiTS AND MATURED INTEREST „COUPONS THAT ARE BEING FUNDED; ANZ~ DECLARING AN EMERGENCY.rr G~~yle The Ordinance was read in full and it was moved by Eros Alderman Ruff and seconded by Alderman Boyle that it be passed on 'darrants first reading, which motion was unanimously carried, Alderman Ruff, Boyle, Agee and Roark voting Aye; and no one voting No. It was moved by Alderman Ruff and seconded by Alderman Boyle that the rule requiring Ordinances to be read at more than one meetir~~ be suspended, and that the Ordinance be placed upon its second and final readings, which motion was unanimously carried, Aldermen Ruff, Boyle, Agee and Roark voting Aye; and no one voting No. The Ordinance was read a second time, and it was moved by Alderman Ruff and seconded by Alderman Boyle that it be passed on second reading, which motion was unanimously carried, Aldermen Ruff, Boyle, Agee and Roark voting Aye; and no one voting No. The Ordinance was read a third time, and it was moved by Alderman Ruff, and seconded by Alderman Boyle that it be passed on third and final reading, which motion was unanimously carried, Aldermen Ruff, Boyle, Agee and Roark voting Aye; and no one voting iio. The Mayor then declared the Ordinance finally passed. ~r.Phillips of J.R. Phillips Investment Co., Albert Roberts, Attorney and Mr F.A. Gayle were present in connection with the ease of Gayle Bros vs the City of La Fgrte. over