HomeMy WebLinkAboutOrd. 1985-1481 - canvass bond election
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ORDINANCE NO. 148l
ORDINANCE CONVASSING RETURNS AND DECLARING
RESULTS OF BOND ELECTION AND DECLARING THAT
SAID ORDINANCE SHALL BE EFFECTIVE IMMEDIATELY
UPON ITS ADOPTION
WHEREAS, on the 11th day of November, 1985, the
City Council of the City of La Porte, Texas, adopted an
ordinance calling an election to be held in said City on the
14th day of December, 1985, for the purpose of submitting to
the duly qualified resident electors of said City for their
action thereupon the following proposition, to-wit:
PROPOSITION
SHALL THE CITY COUNCIL 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 $4,250,000, MATURING
SERIALLY WITHIN 25 YEARS FROM THEIR DATE OR DATES
AND BEARING INTEREST AT A RATE OR RATES NOT TO
EXCEED THE MAXIMUM NOW OR HEREAFTER AUTHORIZED BY
LAW, ALL AS SHALL BE DETERMINED WITHIN THE DISCRE-
TION OF THE CITY COUNCIL, FOR THE PURPOSE OF PUR-
CHASING AND/OR IMPROVING 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?
WHEREAS, the duly qualified resident electors of
said City cast the following votes, respectively, at said
election on said proposition, to-wit:
PROPOSITION
FOR THE ISSUANCE OF TAX BONDS
534
Votes
AGAINST THE ISSUANCE OF TAX BONDS
435
Votes
as shown in the official election returns heretofore duly
submitted to said City Council and filed with the City
Secretary; therefore,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF LA PORTE:
Section 1. That the City Council officially finds
and determines that the bond election held in and throughout
the City of La Porte, Texas, on the 14th day of December,
1985, which election is more particularly described in the
preamble to this ordinance, was duly called and notice
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Ordinance No. 1481, Page 2
thereof duly given in accordance with law; that said
election was duly held in the manner required by law and
that the returns of the election have been duly delivered to
the City Council and it has duly convassed the same.
Section 2. That said election has resulted favor-
ably to the adoption of the Proposition providing for the
issuance of tax bonds for park purposes: and that more than
a majority of the duly qualified resident electors who voted
in said election voted for the issuance of said bonds.
Section 3. That the City Council is now
authorized to issue all of the bonds described in said
Proposition and to levy, assess and collect taxes in payment
thereof, and is now authorized to do any and all things
necessary and convenient in connection therewith.
Section 5. That this ordinance shall take effect
and be in full force upon and after its adoption.
PASSED AND APPROVED this 16th day of December,
1.9 8 5 .
Texas
ATTEST:
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City Secretary, City of
La Porte, Texas ·
[SEAL]
APPROVED ~ '
b:dx Wi ~
City Attorney, City of
La Porte, Texas
RDROIIJ/193BOI
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