HomeMy WebLinkAboutO-1947-340
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ORDINANCE NO. 340
AN ORDINANCE APPROPRIA'l'ING 'l'WO PEH CENT. (2%) OF THE
WATER AND SEWER CaLL ECTIONS FOR THE PU~POSE OF PAYING THE IN-
TEREST ON, AND A SINKING FUND FOR, THE REDEw.PTION OF "CITY OF
LA PORTE WATER SYSTEM REFUNDING BONDS SERI.ES 1946"; REPEALING
ORDINANCE NUMBER 335 AND DECLARING AN EM ERGENCY.
WHEREAS, the City of La Porte has heretofore issued
City of La Porte Water System Refunding Bond.s, Series 1946, in
the sum of Twenty-Two Thousand Dollars ($22,000.00), such bonds
are tax b"nds but with the reservation that the City may pay tne
same out of any other revenues; and
WHEREAS, the City wishes to provide an interest and
sinking fund necessary to pay said bonds and interest thereon
out of the revenue collected from the water system; and
WHEREAS, the City has passed Ordinances raising the
water races and charges and fixing monthly sewer charges; and
WHEREAS, the Boarct of Commissioners have determined.
that two per cent. (2%, of all re~enue,collectect for water and
sewer during the coming fiscal year will be sufficient to pro-
vide an adequate interest and sinking fund for said bonds;
NOW, TIIEREFOR~, BE IT ORDAINED BY THE BOARD OF COM-
MISSIONERS OF THE CITY OF LA PORTE, TEXAS, that there is h~re-
by appropriated the sum of two per cent. (2%) of all water and
sewer revenue collected during the fisoal year ending June 3U,
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,OOO.UO) City of l.a Pdrte Water System
Refunding Bonds, Series 1946, and the same, when collected,
shall be applied to the purpose named.
Ordinance number 335 passed by the Board of Com-
missioners May 29, 1947, is hereby expressly repealed.
An emergency exists constituting an imperative pub-
lie necessity that the rule requiring ordinances to be read at
three several meetings be suspended and this Ordinance take ef-
fect and be 1n force from and after its passage and a~roval,
and it is so ordained.
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ORDINANCE NO. 340_
AN ORDI!~NCE APPROPRIATING rfWO P~R CENT. (2%) OF THE
WATER AND SEHER COLLECTIons FO~ THE PU-qPOSE OF PAYING THE IN-
TE~ST ON, AND A SINKING FUND FOR, THE RED>>~P~IION O!<' "CITY OF
LA PORTB WATER SYST~~ REFUNDING BONDS SERIES 1946"; REPEALING
ORDIliANCE NUMBER 335 AND DECLARING AN MJlERG!f;NCY.
... "....
WHEREAS, the City of La Porte has heretofore issued
City ot La Porte Water System Refunding Bonds, Series 1946, in
the sum of Twenty-Two Thousand. Dollars ($22,000.00), suoh bonas
are tax b~nds but with the reservation that the City may pay tne
same out of any other revenues; and
-
WHEREAS, the City wishes to provide an interest and
sinking fund necessary to pay said bonds and inter~st thereon
out of the revenue collectea from the water system; and
WHEREAS, the City has passea Orainances ra1s1ng tne
water raGes and charges and fixing monthly sewer oharges; and
WHEREAS, the Boara of Commissioners have determined
that two per cent. (2%> of all revenue.collectea for water and
sewer during the coming fiscal year will be sufflcient to pro-
vide an adequate interest and sinking fund for said bonds;
NOW, TIlEREPO~, BE IT ORDAINED BY THE BOARD OF COM-
MISSIONERS OF THE Cl'ry OF LA POitTE, T~S, 'that there is h~re-
by appropriated the sum of two per cent. (2%) of all water and
sewer revenue collected during the fiscal year ending June 3U,
1948, for the purpose of paying the current int~rest on, and
to provide the necessary sinking fund for, the said Twenty-Two
Thousand Dollars ($22,000.UO) City of La Porte Water System
Refunding Bonds, Series 1946, and the same, when collected,
shall be applied to the purpose named.
Ordinance number 335 passed by the Board of Com-
missioners May 29, 1947, is hereby expressly repealed.
An emergency exis'ts constituting an imperative pub-
lic necessity that the rule requiring ordinances to be read a~
three several meetings be suspended. and thJ.s Ordina.nce take ef-
fect and be 1n force from and after its passa.ge and approval,
and it is so ordained.
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A. D. 1947.
Passed and approved this the
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