Ord. 1979-1141 - relates to bond election called with -1140

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. . . ORDINANCE NO. 1141 . ORDINANCE DECLARING THE INTENTION OF THE CITY COMMISSION TO TAKE ADVANTAGE OF ARTICLE 1106, V.T.C.S., IN CONNECTION WITH PROPOSED UTILITY SYSTEM TAX BONDS; AND DECLARING THAT SAID ORDINANCE SHALL BE EFFECTIVE IMMEDIATELY UPON ADOPTION WHEREAS, the City Commission of the City of La Porte, Texas, has duly adopted Ordinance No. 1140, dated January l7, 1979, calling a bond election to be peld in and for said City on February ~, 1979, for the purpose 'of voting on two propositions for the issuance of tax bonds (hereinafter 90llectively called the "Utility Tax Bonds") of said City, as follows: e (a) Proposition No. 1 providing for tax bonds in the amount of $2,000,000 for the purpose of extending and improving the City's Sanitary Sewer System; and (b) Proposition No. 2 providing for tax bonds in the amount of $1,250,000 for the purpose of extending and improving the City's Waterworks System; and WHEREAS, Article 1l06, of Vernon's Civil Statutes of Texas, as amended, authorizes the City Commission to appro- priate and apply the net revenues of its combined Waterworks and Sanitary Sewer Systems (hereinafter collectively called the "utility System") to the paYment of the sinking fund and interest due by the City on its bonded -indebtedness incurred '. on account of' said System; and WHEREAS, the City Commission desires to declare its intention to take advantage of said Article 1106 in connection with the payment of the principal of and interest on the Utility Tax Bonds, if any of them are authorized to be issued by the voters of the City; Therefore, BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF LA PORTE: ..-