Ord. 1971-881 - canvass bond election

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. . . . '.'>' , . . . MATURING' SEHIALLY WITHIN 30 YEARS FROM THEIR DATE OR DATES AND BEARING INTEREST AT A RATE OR RATES NOT TO EXCEED THE MAXIMUM AUTHORIZED BY LAW AT THE TIME OF ISSUE, ALL AS SHALL BE DETERMINED BY SAID CITY COMMISSION, FOR THE PURPOSE OF EXTENDING AND IMPROVING THE CITY'S EXISTING WATERWORKS SYSTEM" AND TO LEVY AN ANNUAL TAX ON ALL TAXABLE PROPERTY WITHIN SAID CITY SUFFICIENT TO PAY THE INTEREST ON SAID BONDS AS IT ACCRUES AND TO CREATE AND PROVIDE A SINKING FUND TO PAY THE PRINCIPAL OF SAID BONDS AS THEY MATURE? PROPOSITION NO. 3 SHALL THE CITY COMMISSION OF THE CITY OF LA PORTE, TEXAS, BE AUTHORIZED TO ISSUE THE TAX BONDS OF SAID CITY, IN ONE OR MORE SERIES, IN THE AGGREGATE PRINCIPAL AMOUNT OF $2,632,000, MATURING SERIALLY WITHIN 30 YEARS FROM THEIR DATE OR DATES AND BEARING INTEREST AT A RATE OR RATES NOT TO EXCEED THE MAXIMUM AUTHORIZED BY ,LAW AT THE TIME OF ISSUE, ALL AS SIiALL BE DETERMINED BY SAID CITY COMMISSION, FOR THE PURPOSE OF MAKING PERMANENT PUBLIC IMPROVEMENTS, TO- WIT: CONSTRUCTING IMPROVEMENTS TO THE 'STREETS IN SAID CITY, INCLUDING NECESSARY DRAINAGE IN CONNECTION T~EREWITH, AND TO LEVY AN ANNUAL TAX ON ALL TAXABLE PROPERTY WITHIN SAID CITY SUFFICIENT TO PAY THE INTEREST ON SAID BONDS AS IT ACCRUES AND TO CREATE AND PROVIDE A SINKING FUND TO PAY THE PRINCIPAL OF SAID BONDS AS THEY MATURE? PROPOSITION NO. 4 SHALL THE CITY COMMISSION OF THE CITY OF LA PORTE, TEXAS, BE AUTHORIZED TO ISSUE THE TAX BONDS OF SAID CITY, IN ONE OR MORE SERIES, IN THE AGGREGATE PRINCIPAL N'~UNT OF $100,000, MATURING SERIALLY WITHIN 30 YEARS FROM THEIR . DATE OR DATES AND BEARING INTEREST AT A RATE OR RATES NOT TO EXCEED THE ~~XIMUM AUTHORIZED BY LAW AT THE TIME OF ISSUE, ALL AS SHALL BE DETE&~INED BY SAID CITY CO~~ISSION, FOR THE PURPOSE OF THE CONSTRUCTION OR PURCHASE OF A PUBLIC BUILDING, TO-WIT: A FIP~ STATION, INCLUDING THE PURCHASE OF A SITE THEREFOR, &~D TO LEVY AN ANNUAL TAX ON ALL TAX- ABLE PROPERTY WITHIN SAID CITY SUFFICIENT TO PAY THE INTEREST ON SAID BONDS AS IT ACCRUES AND TO CREATE AND PROVIDE A SINKING FUND TO PAY THE PRINCIPAL OF SAID BONDS AS THEY MATURE? PROPOSITION NO.5' SHALL THE CITY COMMISSION OF THE CITY OF LA PORTE, TEXAS, BE AUTHORIZED TO ISSUE THE TAX BONDS OF SAID CITY, IN ONE OR MORE SERIES OR ISSUES, IN THE AGGREGATE PRINCIPAL AMOUNT OF $150,000, MATURING SERIALLY WITHIN 30 YEARS FROM THEIR DATE OR DATES AND BEARING INTEREST AX A RATE OR RATES NOT TO EXCEED THE MAXII'1UM AUTHORIZED BY LAW AT THE TIME OF ISSUE, ALL AS SHALL BE DETERMINED BY SAID CITY COHMISSION, FOR THE PURPOSE OF ACQUIRING OR IMPROVING, OR BOTH, LAND FOR PARK PURPOSES, AND TO LEVY AN ANNUAL TAX ON ALL TAXABLE PROPERTY WITHIN SAID CITY SUFFICIENT TO PAY THE INTEREST ON SAID BONDS AS IT ACCRUES AND TO CREATE AND PROVIDE A SINKING FUND TO PAY THE PRINCIPAL OF SAID BONDS AS THEY MATURE?