HomeMy WebLinkAboutO-1947-335
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ORDINANCE NO. ~~,
AN ORDINANCE APPROPRIATING FIFTEEN PER CENT. (15%> OF
WATER COLLlroTIONS FOR THE PURPOSE OF PAYING THE IN'.L'EHEST ON,
AND A SINKING FUND FOR, THE REDEMPTION OF "CITY OF LA PORTE
WATER SYSTBJ REFUNDING BONDS SERIES 1946", AND DECLARING AN
E;IERGENCY.
WHEREAS, the City of La Porte has heretofore issued
City of La Porte Water System-Refunding Bonds, Series 1946, in
the sum of Twenty-Two Thousand Dollars ($22,000.00), such bonds
are tax bonds but with the reservation that the City may pay the
same out of an,. other revenuesJ and
WHEREAS, the City wishes to provide an interest and
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sinking fund necessary to pay said bonds and interest thereon
out of the revenue collected from the water system;
NOW, THEREFORE, BE IT ORDAINED BY THE CITY C~MISSION
OF THE CITY OF LA PORTE, TEXAS, that there is hereby appropriated
the sum of fifteen per cent. (15%) of all water revenue collected
during the fiscal year ending 1n 1948, for the purpose of paying
the current interest on, and to provide the necessary sinking
fund for, the said Twenty-Two Thousand Dollars ($22,000.00) City
of La Porte Water System Refunding Bonds, series 1946, and the
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same, when collected, shall be applied to the purpose named.
An emergency exists constituting an imperative public
necessity t}~t the rule requiring ordinances to be read at three
several meetings be suspended and this ordinance take effect and
be in force from and after its passage and approval, and it is
so ordained.
Passed and approved this
A. D. 1947.
C) re;
the ~ day at
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A1TEST :~' I ,(
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City Clerk of the City of La
Porte, Texas.
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