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<br />. <br /> <br />e <br /> <br />. <br /> <br />. <br /> <br />4 <br /> <br />. <br /> <br />. <br /> <br />ORDINANCE NO. 1147 <br /> <br />ORDINANCE CANVASSING RETURNS AND DECLARING <br />RESULTS OF BOND ELECTION AND DECLARING THAT <br />SAID ORDINANCE SHALL BE EFFECTIVE IMMEDIATELY <br />UPON ITS ADOPTION <br /> <br />WHEREAS, on the 17th day of January, 1979, the <br /> <br />City Commission of the City of La Porte, Texas, adopted <br /> <br />an ordinance calling an election to be held in said City on <br /> <br />the 24th day of February, 1979, for the purpose of submitting <br />to the duly qualified resident electors of said City for <br /> <br />their action thereon the following propositions, to-wit: <br /> <br />PROPOSITION NO. 1 <br /> <br />SHALL THE CITY COMMISSION OF THE CITY OF LA PORTE, <br />TEXAS, BE AUTHORIZED TO ISSUE THE TAX BONDS OF SAID <br />CITY, IN ONE OR MORE SERIES OR ISSUES, IN THE <br />AGGREGATE PRINCIPAL AMOUNT OF $2,000,000, MATURING <br />SERIALLY WITHIN 25 YEARS FROM THEIR DATE OR DATES, <br />AND BEARING INTEREST AT' A RATE OR RATES NOT TO <br />EXCEED THE MAXIMUM NOW OR HEREAFTER AUTHORIZED BY <br />LAW, ALL AS SHALL BE DETERMINED WITHIN THE DISCRETION <br />OF THE CITY COMMISSION, FOR THE PURPOSE OF EXTENDING <br />AND IMPROVING THE CITY'S EXISTING SANITARY SEWER <br />SYSTE~, AND TO LEVY TAXES UPON ALL TAXABLE PROPERTY <br />WITHIN SAID CITY ANNUALLY, SUFFICIENT TO PAY THE <br />INTEREST ON SAID BONDS AS IT ACCRUES, AND TO CREATE <br />AND PROVIDE A SINKING FUND TO PAY THE PRINCIPAL OF <br />SAID BONDS AS THEY MATURE? <br /> <br />PROPOSITION NO. 2 <br /> <br />SHALL THE CITY COMMISSION OF THE CITY OF LA PORTE, <br />TEXAS, BE AUTHORIZED TO ISSUE THE TAX BONDS OF SAID <br />CITY, IN ONE OR MORE SERIES OR ISSUES, IN THE <br />AGGREGATE PRINCIPAL AMOUNT OF $1,250,000, MATURING <br />SERIALLY WITHIN 25 YEARS FROM THEIR DATE OR DATES, <br />AND BEARING INTEREST AT A RATE OR RATES NOT TO <br />EXCEED THE MAXIMUM NOW OR HEREAFTER AUTHORIZED BY <br />LAW, ALL AS SHALL BE DETERMINED WITHIN THE DISCRETION <br />OF THE CITY COMMISSION, FOR THE PURPOSE OR EXTENDING <br />AND IMPROVING THE CITY'S EXISTING WATERWORKS SYSTEM, <br />AND TO LEVY TAXES UPON ALL TAXABLE PROPERTY WITHIN <br />SAID CITY ANNUALLY, SUFFICIENT TO PAY THE INTEREST <br />ON SAID BONDS AS IT ACCRUES AND TO CREATE AND <br />PROVIDE A SINKING FUND TO PAY THE PRINCIPAL OF SAID <br />BONDS AS THEY MATURE? <br /> <br />WHEREAS, the duly qualified resident electors of <br /> <br />said City cast the following votes at said election on said <br /> <br />proposition, to-wit: <br /> <br />PROPOSITION NO. 1 <br /> <br />FOR THE ISSUANCE OF $2,000,000 <br />SANITARY SEWER SYSTEM TAX BONDS <br /> <br />293 <br /> <br />votes <br /> <br />AGAINST THE ISSUANCE OF $2,000,000 <br />SANITARY SEWER SYSTEM TAX BONDS <br /> <br />113 <br /> <br />votes <br />