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approve the Project, the issuance of the Bonds and the plan of finance to be effectuated <br />thereby (the "Plan"), and the City Council constitutes such an authorized, elected <br />representative; and <br />WHEREAS, the City Council deems it necessary and advisable that this <br />ordinance be passed; <br />NOW, THEREFORE, BE IT ORDAINED by the City Council of the City of <br />LaPorte, Texas, as follows: <br />Section 1. The issuance of the Bonds by the Authority in one or more series <br />and in an aggregate principal amount not to exceed $30,000,000, the financing of the <br />Project and the Plan are hereby approved. <br />Section 2. Such approval provided in Section 1 hereof shall be solely for the <br />purposes of Section 147(f) of Code, and the City shall have no liabilities for the payment <br />of the Bonds nor shall any of the City's assets be pledged to the payment of the Bonds. <br />Section 3. This ordinance shall take effect and be in full force immediately <br />after its passage by the City Council. <br />On motion of Councilmember (lam seconded by <br />Councilmember he foregoing ordinance was duly <br />passed. <br />Nays: nu, <br />PASSED AND APPROVED this the 9t' day of June, 2014. <br />CIT <br />By: <br />Lou <br />Mayor <br />