HomeMy WebLinkAboutO-1948-357
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BY THE CITY COMMISSION OF THE CITY OF IA PORTE TEXAS,
AUTHORIZING THi ISSUANCE OF CITY OF LA PORTE WATERWORKS
AND SEWER SYSTEM REVENUE BONDS. SERIES 19_8, IN THE
AMOUNT OF $250,000, FOR THE PURPOSE OF CONSTRUCTING
EXTENSIONS AND IMPROVElOEN'l'S TO THE WATERWORKS SYSTEM
AND THE SEWER SYSTEM OF SAID CITY; PnESCRIBIlfQ THE FORM
OF BOND AND IN'l'ERES'l' COUPON, PLEDGING 'l'HE REVENUES OF
THE WATERWORKS SYSTEM Arm THE SEWER SYSTEM OF SAID CITY
TO PAY 'l'HB PRINCI.PAL OF AND INTEREST ON SAID BONDS AFTER
PROVIDING POR THE EXPENSES OF OPERATING SAID SYSTEMS I
MAXmG CERTAIN COVEftAlt'l'S OF SAID CITY VI'l'H REFERENCE '1'0
THE BOND FUND PROM WHICH SAID PRINCIPAL AND INTEREST ARE
TO BE PAID j PROVIDING 'l'HA'1' THE HOLDER OR HOLDERS OF SAID
BONDS SHALL NEVER HAVE THE RIGHT TO DBMAIID PAYMENT OP
SAID OBLIGATIOl'fS OUT OF AJJY FUNDS RAISED OR TO BE RAISED
BY TAXATION; MA.1tIWG CERTAIN PROVISIONS WITH REFERENCE TO
THE ISSUANCE OP 'PHI .RBMAIRING nONDS AUTHORIZED AT THE
BIBCTION HELD ON FEBRUARY 21, 1948, AND DECLARING AN
BMERGDCY.
WHEREAS, the C1ty Commission of the City of La Porte, Texas,
bas heretofore on the 2nd day of Februal"Y, 1948, adopted a resolu-
tion and order calling an election on the questions of the
issuance of Revenue Bonds of the City of La Porte in the amount
of $200,000.00, bearing ~terest at a rate not to exceed 5~ per
annum, tor .~he purpose at constructing extensions and improvements
to the waterworks system ot said City, and the issuance 'of
Revenue Bonds 01' the City of La Porte in the amount of $300,000.00)
bearing interest at a rate not to exoeed 5~ per annum, for the
purpose at construoting extensions and improvements to the sever
system 01' said City; and providing that it both propositions for
the issuance ot said bonds were adopted, said City Commission
should have the right to issue combined W'aterflorks and Sewer
System Revenue Bonds in the maximum amount of $500,000.00, and
to pledge the net revenues of the Waterworks and Sever System to
the pB.:fnlont of the principal of and interest on eaid bonds J and
WHEREAS~ said election vas held pursuant to said resolu-
tion and order and in accordanoe with law on the 21st day of
February, 1948, and resulted favorably to the issuance 01' 8aid
Revenue Bonds J and
WHEREAS, the City Commission did on the /t;. day ot
~4 ' 1948, adopt a resolution declaring the results of
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sald electlon and determining the specific authority of the
City to issue said revenue bondsJ and
WHEREAS, said above mentioned election did authorize the
issuance of combined Waterworks and Sewer System Revenue Bonds
and the pledg1ng of the net revenues ot the combined Waterworks
and Sever Syst em to the payment of said bonds J and
WHEREAS, the City Commission now deems it advisable and
to the best ~terest of said City that of the bonds so author-
ized at said election only $250,000.00 of bonds should be iS8ued
at. this time, and that said bonds in the amount of $250,000.00
should be issuocl 88 combined Waterworks and Sever System Revenue
Bonds; and
WHEREAS. it 1s now necessary and proper that the City
Commission prooeed with tlle issuance ot 8ueh revenue bo~ds;
THEREFORE, BE IT ORDAINED BY THE OITY COMMISSION OF
TllE CITY or IA POR'l'B, TEXAS:
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That for the purpose of constructing extensions and
improvements to the waterworks system and the sewer system ot
the City ot Ia Porte, Texas, and pursuant to the Constitution
and Statutes ot the State of Texas, including partioularly
Artioles 1111 - 1118, both inclusive, of the Revised Civil
Statutes of 'lexas, 1925, 8S amended, and in accordanoe with
the election held tor that purpose, there shall be issued
CITY OF LA PORTE WATERWORKS AND SEWER SYSTEM REVENUE BOWS,
SERIES 1940, in the prinoipal aggregate sum ot Two Bund1'ed and
P1f'ty 'l'houoand ($250,000.00) Dollars, to be numbered from One
(1) to Two Bundred and F1.fty (250), inolusive, in the denomina-
tion ot ODe Thousand ($1,000.00) Dollars each) ot which $40,000
shall be expended tor the purpose ot construct1nS extensIons and
improvements to the vaterworks system, and. $210,000 shall be
expended tor the purpose ot oonstruoting extensions and improve-
ments to the sever system.
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II.
'!'hat 8a1d bonds e\hall be dated 14arch 15, 1948, and shall
bear interest from date 8.S follows: Bonds Numbers 1 to 151,
inclusive, at the re.te of three and three-fourths (3~3/4%)
per cent per annum, and Bonds Numbers 152 to 250, inclusive, at
the rate of three and one-half (3-1/2%) per cent per annum, in-
terest payable Septembe!' 15.. 1948 and semi-annun1ly thereafter
on March 15th and September 15th in each year; such interest to
be evidenced by proper coupons atta.ched to each of said bonds}
the principal ot and interest on said bonds shall be payable in
lawful money of the United States of Ame~ upon presentation
and surrender or the bonds or proper coupons at the First Nation-
al Bank, Ia Porte.. Texas.
III.
That said bonds snal1 mature as rollove 1
BOND NUMBERS f4A,TURITY DA~~ ~ourI1.;i
1 - 5 inclusive March 15, 1949 $ 5,000
6 - 10 " t.!arch 15, 1950 5,000
11 - 15 " llJe.rch 15, 1951 5,000
16 - 20 " March 15, 1952 5,000
21 - 26 " Maroh 15, 195~ 6,000
27 - 32 n Marcil 15, 195 6,000
33 - ~8 .n March 15, 1955 6,000
39 - 4 " March 15, 1956 6,000
45 - 51 " MElrcl1 15, 195~ 7,000
52 - 58 n Maroh 15, 195 7,000
59 - 65 " "tarch 15, 1959 7,000
66 - 72 n *rch 15 t 1960 7,000
~i - 80 " March 15, 1961 8,000
- 88 n Karch 15, 1962 8,000
89-96 " Narch 15, 196~ 8,000 V"\
91 - 104 " March 15, 196 8,000
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105. - 113 " March 15 J 1965 9,000
114 - 122 " March 15, 1966 9,000
123 - 131 " Ma.rch 15, 1967 9,000
li2 - 141 " March 15, 1968 10,000
1 2 - 151 n March 15, 1969 10,000
152 - 162 fl March 15, l~tO 11,000
163 - 173 " March 15, 19 1 11,000
Ih4 - 185 " March 15.. 1972 12,000
1 6 - 197 " March 15, 197~ 12,000
198 - 209 " Z,1arch 15, 197 12,000
210 - 222 " l.farch 15, 1975 13,000
223 - 236 " March 15, 1976 14,000
237 - 250 n March 15, 1917 14,000
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with Bonds Numbers 97 to 250, inclusive, optional in their inverse
numerical order on March 15, 1963, or on any interest payment
date thereatter.
IV.
That each ot said bonds aha1l be signed by the Mayor and
countersigned by the City Clerk" and the oorporate seal ot the
City of Is. Port., Texas, shall be 1mpre.sed upon each of said
bonds. 'l'hat the facsimile signatures ot the Mayor and City Clerk
I1BY be printed, engraved 01' lithographed upon the coupons
attached to sa14 bonds and shall have the same effect as 1.f'
they had been aigned by sa1d otficia1s.
v.
'!'bat the form ot said bonds shall be substantially as
tol1ows:
10.
$1,000
UNITED S'l'A TES OF AMERICA
STATE OF TEXAS
COUlTY OF HARRIS
CITY OF IAPORm WATmtWORXS AND SEWER SYSTEM REVENUE BOIm
SERIES 19-8
THE C In OF LA PORTE, in the County or Harris, in the
State ot Texas, tor value received, hereby acknowledges itself
1ndellted to and promises to pay to the bearer on the 15th day
of March" 19 , the sum. ot
ONE 'l'HOUSABD DOLlARS
($1,000.00)" in lawful money ot the United States ot America,
with interest thereon trom date hereof at the rate of -
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l ( _> per cent per annum, payable September
15, 3.911-8 and aemi-annually thereafter on March 15th and Septem-
ber 15th 1n each lear, until tho prinoipal swn shall be p1d,
upon the presentat10n and surrender of proper coupons as they
.eve~117 become due) both prinoipal and interest being payable
at the Pirat National Bank, Is. Porte, Texas.
THIS BOlD 1s one of a .eries Of Two Hundred and Fifty
(250) bonds, numbered trom One (1) to 'l'vo Hundred and Fifty
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(250)~ inclusive, in the denomination of One Thousand ($1,000.00)
Dollars each, 8ggregatine Two Hundred and Fifty Thousand
($250,000.00) Dollars, Issued by the City ot La Porte, Texas,
tor the purpose ot construo~1ng extensions and improvements to
the waterworks system and the sewer system ot said C1t~., in
aooordance with the Constitution and Lavs or the State ot Texas,
inoluding partlcu1Brly Articles 1111. - 1118, both inclusive.. of'
the Revised Civil Statutes ot Texas, 1925.. 8s amended.. the
authority ot a vote ot the qunlitied electol'S or the City of
Le. Porte, who owned ta.xable property in said City and who had
duly rendered the same tor taxation, voting at an election held
on the 21st da, ot Februa17.. 1911-8, and pursuant to an ordinance
passed by the City Commission ot the City at La Porte, Texas,
duly reoorded in the M1nutes ot the C1ty Commission.
The date at th1s bond, in oonformity with the ordinance
above mentioned, 1s March 15, 1948.
This bond, and th.. eerle8 ot which it 18 a part, oonsti-
tute special obllgat10J18 of' the City of Ia Porte, Texas, payable
solely from and seoured by an exolusive first lien on and pledge
ot the revenues of the Wat81"W'orks System and the Sewer System ot
88id Oity, af.ter deduotlon of reasonable operation and maintenance
expens 88; provided, that the reme.in1.ng bonds in the aggregate
amount of $250,000.00, authorized at said eleotion held on the
21st day ot Pebruary. 19_8, when and it issued and Bold shall
be 011. a p&1'1t7 w1th th8 boM. of th1. .81'18.. \/\,!
The holder hereof shall never have the right to demand
payment of th11 obligation out of any funds raised or to be
ra1sed by taxation.
'1'1'1e Clty of" Ia. Porte reserves the right to redeem Bonds Nos.
97 to 250, inolus1ve, in their inverse numerical order, on March
15. 1963. or on any intereet payment dat e thereafter, by paying
prinoipal and acorued interest thereon" and in CBse the same 1s
called in tor redemption betore nBturlty i IlOt1o. thereot 1n writing
shall be given by the City Clerk ot said City to the P1rst Natlonal
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Bank, LI. Porte, TeXAS, at least thirty (30) days prior to the
date .fixed tor redemption; And said City Clerk shall also cause
a oopy ot. such notice to be published in some finanoial Journal
published ln the State ot Texas one time at least thirty (30)
days prior to the date flxed for redemption) and lf this bond
1s not presented tor redemptlon, the' same shall 088se to bear
interest from and after the date 80 fixed .for redemption.
(I'OT1& ~O nt,INTER J The above peresrapb applies only to
Bonds Nos. 97 to 250, inolusive).
AND IT IS HEREBY CEB!'IFIEl> that ~h$ issuanoe ot thil!J bond,
and the aerles ot which it ls a part, 1. duly authorized by law J
that all acts, conditions and t~8 required to exist and to be
done Preoedent to and in the issuance ot thi8 bond to render the
same lawful. and valid, have been properlY done, have happened and
he. ve been performed in regular and due time, form and manner as
required by the Constitution and laws of" the State ot Texas, and
the ordinanoe hereinabove mentioned, and that thi. 8erles of'
revenue bands 4088 not exoeed any const1tutional or statutory
l1m.1tationJ and that provision has been made tor the payment at
the principal and interest of this bond and the serles of which
it 18 a part, by i~revocably pledgLng the revenues of the Water-
works System and the Sever S1stem of the City ot Ia Porte, Texas.
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II TBS'l'IMOn ~OJP i the CitJ' Commission ot the City ot
1& Porte, Texas, baa caused the 8eal of said City to be hereon
1mpr8a8ed., and thi8 bond t'o be 8isned by the Mayor ot sald City.
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countersigned by the City Olerk, and haa caused the annexed
intereat ooupons to be signed by the tac8im1f8 signatures ot the
Ma70r and the 0ity Ol.erk.
Mayor. City ot 1& Porte. Texas.
COtmTERSICHmD I
C1tJ' Clerk, CitJ' of 1a Porte. Texas.
VI.
That the torm ot said coupons to be attached to Bonds
Ros. 1 to 96, inolusive, shall be substantially as tollowsl
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$
ON THE 15TH DAY OF
, 19_,
'l'HB CITY OF LA PORTE, TBXAS, wl11 pay to bearer trom the funds
speolfied 1n the bond to which thls ooupon Is attaohed at the
P1rat National .Bank~ la Porte, Texa8~ the sum of
($ ) Dollars, in lawful money of the Un! ted states or
America" sald sum being six months' interest due that day on
C I'l'Y 01' LA. PORTE VA TERWORKS AND SEWER SYS'l'BM REVDUlE BOJID,
SERIES 1948~ dated Maroh 15.. 1948~ No. , to which this
coupon 18' attached and 18 a part thereof. The holder hereof
shall never have the r1ght to demand payment of this obligation
out of any funds raised or to be raised by taxation.
Mayor, City of La Porte, Texas.
City Clerk~ City ot La Porte, Texas.
That the torm of sald coupons to be attached to Bonds
Nos. gr to 250, 1nclUI!I1ve, 8hall be substantlally as to1lows:
NO. $
-
ON 'l'HE 15TH DAY OF
.. 19_,
TIlE CI'l'Y OF LA. PORTE, TEXAS, will pay to bearer (lplles8 the
bond to which this coupon i8 attached shall have been called
tor payment as therein provided and payment made or provided tor)
out ot f'unds specified in th~ bond to which this coupon 18
attached at the first National Bank.. la Porte, Texas, the SUlll
of ($) Do1.1ara, in lawful money
of the United States of America.. sald SUlI being six months'
interest due tbat day on CITY OF LA PORTE WA'l'ERWORKS AND SEYER
SYS'l'BM HBVDUE BOlD, SERIES 1948~ dated March 15, 1948, No....:..-~
to "hioh this coupon 18 attached and 18 8 part thereof. The
holder hereor shall never have the right to demand payment of
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this obligation out at any funds raised or to be raised by
taxat10n.
Mayor, City of I.a Porte, Texas.
City Clerk, City 01' La Porte, Texas.
VII.
'1'hat substantially the follOWing oertif1cate shall be
printed on the baok of each bond I
OFFICE OF COMP'l'ROLLER )
S'1'ATE 0' 'l'EXAS J
I HEREBY CERTIFY that there 1s on tlle and 01' record in
my ofrioe a certificate at the Attorney General 01' the State at
Texas to the etteot tbat this bond has been examined by him as
required by laY, and that he tinds that it has been issued 1n
conformity W1th the Constitution and lavs ot the State of Texas,
aDd. that it is a valid and b~1ng special obligation at 8a1d
CitJ 01' Is. Porte, Texas, plyable tram the revenues pledged to
its' payment by and in the' ordinAnoe authorizing same. and 881d
bond has this day been registered by me.
WITNESS MY HAND and leal of oft1ce at Austin, Texas,
this
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Comptroller of Public Aocounts at
The State 01' Texas.
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VIII.
In this ord1nance the term "8~stem" ahall l.nclud.e and
mean the watervorka sJ'atem and the sever system 01' said City,
together with aD7 additions and extensions thereto and improve-
ments and replacements thereat'.
IX.
The Cit,. Comm1a81on ahall at all times, vhile any ot sa1d
bcmda 01' &n7 1nter..t thereon are outetltandins and unpaid,
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charge and colleot tor servioes rendered by said System, rates
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suffioient to pay all ma1ntenance, depreoiation, replacement,
betterment and 11'1terest charges, and tor Interest and Sinking
F'und suffioient to pay the interest and prlncipal of sald bonds
as such prinoipal and interest matures and accrues and any out-
stand1ng indebtedness againat the system, as 1s required by
Article 1113, Revised CIvil Statutes ot Texas, 1925, and amend-
ments thereto. For the benefit of the 01'ig1ne.l purchaser, and
for the benefit of any and all subsequent holders ot said bonds,
coupons, or any part thereof, and in 8dd.ition to all other pro-
visions and covenants in the laws of the State of Texas and 1n
this ordinance, lt is expressly stipulatod:
A. lU\1E~1 '!'he City shall fix and maintain re.tes Bnd
coll~ct charges tor the faollities and sel'Vices afforded by the
System whioh vill prOVide revenues sufficient at all timesl
(1) To pay all operat1ons, maintenanoe, depreciation,
replacements and betterment charges of the System.
(2) To establish and maintaIn the Bond Fund.
(3) To pay all outstandIng indebtedness against the
System, other than bonds, as and when the same
becomes due. Provided also, that no free service
ot the System shall be allowed, and. should the
City or any of its agencies or instrumentalities
make use ot the services and facilities of the
System, payment ot the reasonable value thereot
ahall be made by the City out at funds derived
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trom sources other than the revenues and income
of the S78tem.
B. USB 01' ~~I Tbe City v1l1 deposit 8S oollected
all revenues derived from the operation ot the S7stem into 8
separate acoount (herein called the "System Fund") which shall
be kept separate and apart from all other funds of the City.
The System Fund shall be adll1j n18tered as tolloVSI
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(1) JSond P'J,mJ1: Prom the funds in the System Fund,
the City shall pay into the Bond Fund during each year in which
any ot the bonds are outstanding, commencing with the date 01' the
delivery of the bonds herein authorized. to the purchasers thereof,
an amount equal to 100 per centum ot the amount required to meet
the interest and principal );lB.ym.ents talling due on or before the
next maturity date 01' the bonds. In addition to such payment,
the City shall pay 1nt 0 the Bond Fund from the System Fund in
each year twenty (20%) per centum ot: the above required amount
until suoh time &s there 1s in the Bond Fund an amount sufficient
to meet the interest and prinoipal payments falling due on or
betore the next maturity date ot the bonds and. the interest and
principal payments on the bonds tor two years thereafter. The
aMOunt required to be paid into the Bond Fund in eaoh year shall
be paid in substant1ally equal monthl.y payments trom the moneys
in the System Funcl, after deductions have been made for pay1.rig
the reasonable cost 01' the operat1ng and maintaining of the
Systelll tor such month. It the revenues 01' the System in any
month, af'ter deductions tor operation and maintenance, are in-
surt1cient to rake the reqUired payment 1nto the Bond Fund, then
the amount 01' any def'1oienc7 in the payment shall be added. to the
amount otherwise required to be paid into the Bond Fund in the
next month. It 1s the intent ot this provision that the sums
paid into the Bond JPund shall be in aoes S ot the immediate
requirements tor payment ot interest on and principal ot the
bonds until there bas been aooumulated in the Bond Fund, as
e. reserve for contingencies, an amount suff'ic1ent to service
the bonds tor two years. The lDOD871!1 in the Bond Fund shall be
used 801ely for the purpose of pEL7in8 interest on and principal.
ot the bonds until all the bonds have been retiredJ provided that.
when the total in the Bond Fund 1s equal to the aggt'egate prin-
o1pal amount or the bonds outstanding plus accrued interest.
thereon. the moneys in the Bond .Fund lD87 be used to purchase
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said bonds at a price, exclusive of accrued interest, not exceed-
ing the principal amount thereot, or to redeem said bonds in
accordance with the redemption provision contained in Section
III ot this ordinance. The moneys paid into the Bond Fund shall
be deposited in a bank or banks and ehall be continuously secured
by 8 valid pledge to the City of direct obligations of the United
States or America, having an aggregate market value, exclusive
of accrued interest.. at all times at least equal to suoh Bond
Fund. The Bond Fund, a.t the option of the City, may be invested
in such direct obligations ot the United States of America and
deposited in escrow under an escrow agreement. If such funds are
so'invested and deposited 1n escrow, the City shall have the right
to bave sold through the escrow agent on the open market 8
sufficient amount of said securities in order to meet its obliga-
tions of princ1:ral and interest in EVent it does not have suffi-
cient funds, uninvested, on hand for such purpose. Under such
circumstances, tlle Mayor is hereby authorized, ordered and
directed to give fifteen days notice to such escrov agent of
_ 'the necessity to sell s81d securities on the open market. After
such sale, the moneys resulting therefrom shall belong to the
Bond lPund and shall be available to pay such obligations of
pr1ncipal and interest.
(2 ) Sur'DluB I Any funds remaining In the System Fund,
atter provision for the reaso:oable cost of operating and JtBin-
tain1.ng the System, and atter paying the amounts required to be
paid into the Bond Fund, as above provided, may be used by the
City tor the purehBse of said bands at no~ exeeeding the principal ~
amount thereof (exclus1 VB of accrUed Interest) or for redeeming
sa14 bonda in accordance with the redemption provision contained
in Section III of this ordinance, or tor any other purpoee per-
mi tted by lay.
C . ADDI1'IOIlAL BO~ I Ep.cumbrance and Sale. While any
ot the bonda are outstanding, the City shall not issue any
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sources other than the operation of the system, bUt nothing
herein shall be construed as preventing the City trom doing so.
E. ~9COtmT~ ~NP fEJUgDIC 81A1EMBN~~ I The City shall keep
proper books of reoords and aocounts (separate trom all other
records and accounts) Ul whioh complete and correct entries
sl1all be DlLde of all transaotions relat1ng to the system. The
City shall furnish to l!UQ' holder of any 01' the bonds, at the
written request of such holder, not more than thirty days after
the 010S8 of Sluch s1.X months' fiscal period, complete operating
and income statements ot the slstem 111 reasonable detail, cover-
ing such siX IlIlOnths' period, and, not more tban siXty days after
the close of each fiscal year, complete 1'1nancial statements or
the system in reasonable detail covering such fiscal year, cer-
titied by the City's Auditor.
F. k1f5PEC'l'ION I Azq purc!1&ser of 25 per centum in aggre-
gate pr1noipal &IDOWlt ot the bonds at the time then outstanding
or any holder 01' holders or 25 per centWD of 8aid amount ot out-
standing bonds aball have the right at all reasonable times to
inspect the lJ)'stem and all records, aocounts and data 01' the
City relat1DS thereto.
o. WONSA.TIOlh Upon the written request. the City will
furnish to aJ:Q' purchaser of 25 per oentum of tbe bonds such
tiDanc1al statements and other pe1tt.nent 1n1"o1'll8tion and data
relating to the Oity and the system 8S 8uch purchasertrom time \/1
to time may reasonably require.
H. ~ OF BOmsl Upon request, the City vill 1"urnish to
any purchasGr or hol.der 01' 25 per oentum ot: the bonds, informa-
tion 1'01' the preparation or a bond oircular in customary form,
signed by the proper officials ot the C!1iY. containing such
data as such purchaser or holder DBY reasonably request oon-
cerning the Oity and the system.
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The Mayor, City Clerk and City Treasurer are hereby in-
structed and direoted to do any and all things necessary and/or
con~en1ent in reference to the installing and. maintaining ot a
complete system of records a.nd 8ccountepertalning to e&ld
system and to make the moneys aval18ble tor the payment ot said
revenue bond$ in the manner provided by Chapter 122, Aots ot
the Regular Session of the Forty-third Legislature of Texas,
effective May 1?, 1933. In accordance with the provisions of
Article 1113, 1925 Revised Civil Statutes of Texss, as amended,
the fiscal yee.r t'~the ope1'lltion ot such system e1M1l be
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XI.
The City further covensnts by and through this ordinance
6S follovs:
(a) That the revenue bonds authorized hereunder shall be
special obligat10ns ot the City and the holder thereof shall
never have the right to d$lIBnd payment thereof out of funds
ra1sed or to be raised by taxation.
(b) That it Me the 18vtul power to pledge the revenue
supporting this issue of bonds and has lnwtully exerols ed said
pover under the Constitution and lavs ot. the State of Texas #
1nolu~g the power existing under Articles 1111 - 1118, both
inclusive, 1925 Revised Civ1l Statutes ot the State of Texe.s#
with amendments thereto, and by Buthorlty of Q vote of the
qualified electors or said Oity voting at an election held in
8ald C:1ty on the 21st day of February, 19~8J that the bonds
issued hereunder shall be ratably secured under sald p:Ledge or
income in BUch mnner that no. one bond .sha1l have preference
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over any other bond of this issue.
(c) That other than for the :payment ot the bonds herein
authorized, the rents, revenues and income of said system have
not been pledged in any manner to the pByn1ent ot any debts or
obligations or the City, nor of 8ald system.
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addit10nal bonds (other than the remaining $250,000 ot bonds
authorized at the election held on February 21, 1948, as herein-
atter provided) payable trom the revenue. or the system unless
the lien 01' such bonds payable trom the revenues of the system
i8 made JunloJ' and subordinate in all r8speots to the lien of." the
bonds herein authorized.. In no event, wh11e any ot said bonds
are outstanding will the City mortgage 01' otherv1s. encwnber the
sy.tem or any part tbereot, or Dell, 1e1L8e or otherwise dispose
of' any substotial portion ot such 81stem. 'lbese provisions
sball inure to the benetit o~ and be enforoeable by any holder
of 8DY of the bonds.
1'h. rersll1U1s bonds autnorized at sa1d elect10n held on
Februar,y 21, 19_8, 1n the total aggresate amount ot $250;000.00,
may be 1sDued and 801d by the Cit7 and such bonds when issued
and 80ld shall be on 8 pe,rity w1th the bond. herein authorized;
provided, however, that the C1ty llhall not issue and selllUQ'
of such remaining bonds authorIzed at sa14 elect10n held on
P'ebruary 2-1, 1948. until such time B8 the annual revenues or
the SY8t_, after deduoting the reasonable cost or operating
and J1111nta1n1nS tho System, all shom by three 7-1'8 historical
net -1'IUn88 ot the System, will equal at least ODe and ODe-half
time. the _x1JrNm ADnual requirements or principal and interest
on the outstanding bonds ot the aer18. hepe1ft authorized, and
such ad41tional bonds authorized at 8814 election to be 1.lIued
and 8014.
D. ~~CJ A,m OPEaATtml: The City shall zs1nta1n
the 878t- in good condition aDd opere.te the same in an
e.tt1clent DIU1l'18r and at a ree.scmable Goat. 80 long &8 any of"
the bond. are outstanding, the City agrees to maintain 1JuJu:rance
tor the beDGt1t or tbe holder or bolderll ot the bonds, on the
sJ'8tem, or a kind and in &D &mcnmt whioh usually would be
carr1ed tv pr1 vate companies enpged in a s1milar type ot
busines.. Bothing 1n tbis ordS-JUmoe shall be oonstrued eo 1'8-
qu1r1Dg the C1ty to expend ~ tunds which are derived from
..\/\
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XII.
It shall be the duly of the Mayor to submit the record
I
at said bonds and the bonds to the Attorney General at the State
or Texas tor approval and thereafter to have them registered by
the Comptroller of Publio Accounts of the State of Texas.
When said bonds have been registered by the Comptroller ot Public
Aocounts, the Comptroller 1s hereby authorized to deliver said
bonds to the ~.,~~.-;.~~. ~A....~/ Bank, Austin,
Texas, where they vill be pt\id tor by the purohasers.
XIII.
The revenue bonds, when properly executed by the c1 ty
officials shall be held by the Mayor of the City to be delivered
to the purohaser or purchasers thereof. The Mayor, City Clerk
and Oity Treasurer are hereby authorized e.nd directed to do any
8mall things necessary and/or convenient to carry out the terms
at 88id purchase or of said contract for delivery of sa1d bonds.
XIV.
'.\'hat the b1d or ~~ ~/;.L..?~
on the bonds herein authorized, t a price or par and acorued
interest, plus a cash premium ot $':< ~~ t:) 0 , being the highest
and best bid submitted for said bonds, be, and the same 1s
hereby aooepted, and the Mayor, City Clerk and City Treasurer
are hereby authorized, dlreoted and instructed to do all things
ne~./ary to }eZ1V8 -, bonds to _1d ~ d47 2, \/1
/~A./ :,,~ -I' ~ ~ at the contract
price here1n8bove mentioned.
xv.
By reason ot the fact that the CitJ Commission of the City
of La Porte, Texas. considers the passage ot. this ordinance and
the issuance ot said bonds necessary for the premervation of the
public health and safety of the citizens of said City, it is
hereby declared to be an emergency measure demanding that the
rule requiring ordinances to be read at more thsn one meeting
of the City Commission be suspended. and that this ordinance
take effect immediately from and after its passage, and it 1s
II 0 ordained.
PASSED AND APPROVED th1e the LL. day of
~t.
1948.
TeT..a!iS .
..\
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RESOJpTJ2I! CANYAS~ ING ImTtmNS OF ~IAEC1Ij)'
THE ~TA TE OF TEXAS
COUNn OF HARRIS
~
~
..
C In OF LA PORTE
On this the /f( day ot ~~, 1948, the City
'-,
Coamiss1on or the OJty of Is. Porte, Texas, convened in ~Q:
session at the regular meeting pl.e.oe, with the following members
thereoi"" to witt
, City Clerk,
present, nd the following absents ~
, r.la.~'or
, Coul;n1ssioner
Commissioner
.
constituting a quorum, when, among othe~ proceedings had, vere
the followingl
Commissioner
~~
introduced 8 resolution
8DI1 ~':':dOption.
J.
The motion vas seconded by Commissioner
The motion carrying With it the adoption or the l'8uolu-
tion prevailed by the folloWing votes
'AYES I C0Dlll11ss1oners ~ _,~ J
NO:l5& NONE.
The resolution is &s follows I
"\ll
1\B50:tpTIOp'
CANVASSIBG RE'.l'URJS AND DBCIARlIfG THE BESUll1' OF AN ELEe-
TION HELD Oll Tim qUESTION OJ' THE ISSUANOE OF REVENUE
BORDS OP SAID CITY IN DIE AMOUNT OF *200,000.00, POR
THE PORros:! OF 'CONSTRUCTING EXTENSIONS AND IMPROVEMENTS
TO anm W'A'l'ERWORKS SY5TDt OIi' SAID CITY; AND ON THE
QTlBS~IO:N OF THE ISSUAlVCE OF $300,,000.00 REVEJif1JE BOIrns,
POB THI PURPOSB OF COBS1'BUC'l'IHG EXDlfSIOlfS AliJD IMPROVE-
MIlTS TO 'l'1m SmtER SYSTEM OF SAID CITY J AND PlEDGING
1HB RBVFJroBS OP TD lfARRWORlC'B SYSTEl-4 AND '.l"HB SEWER
SYS'I'BM fO mE PAngr THEREOF.
~S# on the 2nd dey of Februa1'3'# 1948. the Clty COlJ1-
mssion adopted ~ resolution and order. calling an eleotion to
be held 1n the Clt;r of IA Porte# Texas, on the 21st day of
.e
e
February, 1948, on the following l1ropos1tionl!l:
lROPOSJ~~0~~P9. ~
Shall the City Commil!l!l1on ot the City of La. Porte, Texas,
be authorized to issue $200,000.00 aeVenl.le Bonds ot said City.
me.turing ser:!.ally or otl1erwlee ovel' S perlod ot years not to
exceed thirty (30) years ~rom their d&te, bearing interest at a
rate not to exceed fivo (5%) per oent per annum, for the purpose
ot constructing exten.slons and improvements to the Waterworks
System of said C1.ty; and to provide for the pa.yro1ent of the prin-
cipal of and interest on suoh bonds solely by pledging the net
revenues derived from the operat1on. 01' eald Waterworks System,
.,
or in the event th.at the City Comlll.1e.sl~n be author1zed to issue
Sewer System Revenue Bonds as subnutted in Proposition No.2, to
lBBue c,omblned '\1.~terwoX'k$ and Sewer System Revenue Bonds in the
mo.ximum amount or $500,000.00, e.nd to pledge solely the net
revenues ot the oonb1ned i.J'aterworks and Sewer SY3tem to th.e
p:l~rment of' the pr1nelpa.l of and lnterest on 3aid combined Water-
works and Sever Sy-stem Revenue Bonds.
1'RP-!~'i.IX1()'N NOJJ_
8Mll the C1.tjl' Commission of the City ot la Porte, Texas,
be a.uthorized to iSDue $300,000.00 Revenue Bonds or ~ald City,
maturing serially or other'W'is8 over e.. period of years not to
exceed thirty (30) years from .their date, bearing interest at
a :rate not to ex~eed five (5';) per cent per annum, tor the pur-
pose ot con.structing extensions and :1.mproveDtents to the Sewer
System o~ said Clty; And to provldo tor tho payment ot the prin-
c1pal of and interest on such bonds nolely by pledging the net
revenueR der1 ved from the operation of aaid Sewer System. or in
the event that the City Commission be authorized to issue Water-
works System Revenue Bondn as submitted in Proposition No.1, to
1ssue oombined Waterworks and Sever Syatam Revenue Bonds in the
maximum amount or $500.000.00,t and to pledge solely the net
revenues of the combined WatewOl'ks and Sever System to the pay-
ment or the prinoipal ot and interest on said combined Waterworks
and Sever System Revenue Bonds.
"\.ll
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e
AIm ~8, there were Ct.\$t at said eloction "'- ~ (~ T
valid end le~l vote., or wh.1oh nw.l1ber there vore cast:
~OR TIlE ISSUANCE: OP WA-rERWClBES SYSTEM IIEVDUE
BOl'lDS AlUJ THE PIBDGB OF mrt' REVmfU&'l FOR THE
PAYHElI1'i' '!'HEREOF, AS SUBMI'l"Nm 111 PlOt-OSITIon
no. It" · · · · · . . . . . . '. . . . . . . . . ~ ~ f__ votes.
tlAOAllm'P T;IO: ISSUAltCE (Jp tJ'NrFJlwOmm SYSTEM
~"VF.NUE BOJfD8 I~m> THE PLEDGE OF lih"T RE.-vEt.UES
FOR 'I'D PAYMlnI'l' '1'Itrm!:OP. AS SUDMI'l"l'ED IN
PROPOSITION UU. 1/1 . . . . . . . . . . . . ..::J (!!) 9 votes.
"FOR 'I'XE IS8UAHCE OF SE'~ SYS'l."EJt REVElWB BONDS
AlID THE P!iEJXm or' n-r REVDlJlro FOR THE PAYImNT
1'KERBaF, A.., SUBMI'.M'ED IN PN.OP03I'i'ION NO.2" . .:J.. S- votes.
"AGAI.flS'1' '.E'D ISSUANCE OF S!;.iJ!ll SYSTJt~i SEVDW
201100 AND THE PIBIXlE OF NE't' lU.~VXl'JtJ:[S FO}~ THE
PAYbDim'l' 'l'JiBREOF, AS SUBMITTED nf PROPOSITION
.NO. 2 f'I . . . . . . . . . . . . . . . . . .. 2-/ J votes.
as 1ti reflected in the $leat1on roturno heretofore fOIled. vith
the City Clerk o1.~ t,he City or l4 Porto, ToxasJ
BE 1'1' JU1....'lOLVBD BY THE CITY CQlI1MISSION OF niB CITY O~~
IA, PORTE.. 'I'EXAS r
1. 'l}ll\t lllfl.J.d electlon ws dUly ~~lled; t.hat ll0t1oG vns
g1 van in accordanoe Vi'th Jaw and. 1n aooOZ'danco With the resolu-
t10n end. ol'Clel' eall1ng the electl.on: that the election vas hold
111 aoooJldano$ v1th laVJ that due return oJ;." naic.l elect.Lon me
been _de by tho proper ott1oGrc; that said electlcm ha$ resulted
favora~ t.o the .1.sF.n.ua.nce or 00.14 bond.$~ that &llr.O.Jori'tN of the
qual1t1ed voters, vho owned tex,"~ble FOport;~ .1.n au1d City and
who bad. duq l~~ tlw S~ for taxation, vot1DS at said
elect1cm have vote4 .1.91 favor or the 1ssUWloe of 8814 bonds.
2. That the City C01Jm1saicm 'be end it 19 Aoreby in all.
1;biDp authOZ".1.Be4~ ordered s.n4 cUreeted. to issue M.1d bonds and
to 40 &IQ' aM\. all thJ.np neoosea17 I'lftd./or oonven1ont in ~onnec-
t10n tb._With. ~
AJ)OP.l'1rJ) .AM>> A.PDOVBD tll1s the K dR)' or ~ ~ ~ ~
\/l
1948.
.e
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RESOLUTION
.>
WHEREAS, the City ot La Porte has agreed with the McMillan
Construction Company to complete the grading and 8helling or ce~-
tain streets to oontorm to F. H. A. requirements, and
I
, ,
I
WIiEREAS, the McMillan Construction Company has deposited,
with the C1ty Clerk, the sum ot Six Hundred Dollars ($600.00),
the estimat.d cost tor completing such wOl'k,
NOW, THEREFORE, BE IT RESOLVEP by the Board of Commissioners
of the City ot I.a Porte, Texas, that, as soon as practicable, the
City will oomplete grading and putting shell eight (~) inches
deep and twenty (20) feeb . wide on Seventh Avenue tram South D
Street to South E,str~~t .and on Eighth and .ineth .v~~es trom
South C to South B St~eet8 1n aocordance with the contract with
'the McMillan Construction Company and,
BE IT FURTHER RESOLVED that the ietter addressed to the
McMillan Construotion Company,.7948 ~arri8burg Blvd., Houston, -
Texas, dated March 18, 1948, by Raleigh Erwin, 'Superintendent ot
Public Wprks, be in all things ratified an~ oonfirmed" and it is
1"0' ordered';.
I
,
This i8 to certify that the above and toregoing 1s a true
an~ oorrect oopy at a resolution passed by the Board ot Commissioners
ot' the City ot La Porte, Texas at their meeting held on Maroh 23,
1948, to certity which witness my hand and seal of office this the
23rd day at March, 1948.
'\,'1
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THE STATE OF TEXAS
COUNTY OF HARRIS
)
~
On this the
30th
day of
March
, 191~8, the
City COlmnission of the City of La Porte, Texas, convened. :i.n
Speoial
session at the regular meeting place, with the
following membel's thereof, to "j'Ti t :
II. J. Pfeiffer , Mayor
Jas. S. Crate, Jr. , Commissioner
Jas. E. stewart , CommissIoner
J. E. Muldoon , City Clerk,
present, and the follo"i-Ting absent:
None
,
constituting a quorum, when, among other proceedings had, were
the following:
Commissioner
Stewart
introduced a resolution
and moved its adoption. The motion was seconded by Commissioner
Crato
The motion carrying with it the adoption of the resolution
prevailed by the following vote:
.'
AYES: Co~nissioners
Stewart
,
Crate
NOES: NONE.
The resolution is as follows:
RESOLUTION
AUTHORIZING THE MAYOR AND CITY TREASURER TO ISSUE A
CHECK TO ERNEST L. BROWN, JR., IN PAYMENT OF CONTRACT.
WHEREAS, the City Commission of the City of La Porte,
,,\
\R
Texas, has heretofore entered into a contract with Ernest L.
~--
Brown, Jr., of Houston, Texas, in connection with the issuance
by said City of La Porte of its Waterworks and Sewer System
Revenue Bonds, Series 1948; and
WHEREAS, said Ernest L. Brown, Jr., has carried out all of
the terms of said contract and is now entitled to the payment
of his fee under said contract;
THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE
CITY OF IA PORTE, TEXAS:
-
e
That the Mayor and City Treasurer of the City of La Porte
be" and they are hereby authorized and directed to issue a
check to Ernest L. Brown, Jr., of Houston, Texas, in the amount
of Five Thousand Two Hundred and Fifty ($5,250.00) Dollars,
in payment of his fee under a contract between the City Com-
mission of said City and the said Ernest L. Brown, Jr., for
the furnishing of all necessar~ legal proceedings, printed bonds,
and all other necessary services,. in connection with the
issuance by said City of La Porte of its Waterworks and Sewer
System Revenue Bonds, Series 1948.
ADOPTED AND APPROVED, this the 30th
day of
Maroh
~
1948.
orte, Texas.
\l\
!
.,'
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--
-
RaOLtJTIOI
WHEREAS, an erroneoul survey has heretotore been made ot
~lan Jaointo Homes Addition to the Town ot La Porte, 'l'ex~s, and
. .
WHEREAS, in accordanoe with such lurvey, ~he McMillan
C'onstruot1on Company, owner ot certain loti 1n la1d subdivilion,
" bas constructed I1l. number ot d!,el11ngl, and
WHEREAS, the Oity of La Porte, ln aacordanoe' with suoh
iBurvei. haa 1nstalled certain utllit1y 11nel, and
WHBREAS, laid subdivision has been re-~urve1.ed by the
0.' 0: . . I '
OOunty Surveyor ot Harris qount7, Texas,. A. C.' stimson, on Maroh
\
J .
/
'.
31, 1948; .hlc~ aurve7 the ~i~7 ot La Porte and t~8 ~cMl11an Con-
. ,
'llltruotlon CompanY' agree 18 correct, and
WHBREAS, lt i.'to the mutual benetlt ot the City of La
. ,Porte and the McMlllan Construotion OomPaD7' to exahanse deeds to
, , '
, ..ta,b11sh streets alQ4 allet 11nes and building 1ine8 to .contorm.
, ,
uo ~ho.. whloh have her8tot~re been aotua1ly eltablished on the
,
~ound ln lald Addition, .
BOW, TImREFORB, BE XT RESOLVED bJ' the !oard ot Commis-
lioners ot the Clt7 ot La Po~te, Texas, that the C1t7 ot La Porte
oorivey pans ot oert~il1 streets 1n said San Jacinto Homes Addl-
tion to the Town ot La Porte to the MoMlllan Construotlon Company,
--
) a Texas oorporation and that the Mayo~ and Clo,k ot the City ot
./"
:-.
La Porto be, and they are hereb7, instructed to executp'and d.~
1iver.'said deed to the 8aid McMillan Construction Company, and
it is 80 ordered.
'\ "\
II .
CERTIFICATE
The nbove and toregoing is a true and oorrect 10py of
& ~eso1ution passed by the Board ot Oommissioners ot the City ot
La ,Porte, Texas, at its meeting held on the ~day ot April,
\ A. D. 1948, as the same appeared ot record in the Minute Book
I
) of said Ctty, to certify whioh witness my hand and seal ot ot-
tioe this, the / J da7 ot April, A.
.
)"AI
_0 1
'"r:> ,;'
.
,.' --.......
e
fUJ OIIDI1l-1.UCE
J?Y~lTaE_ C~f'Y COii~~SS~O~i ~ ~O CITY Ol~ :u; ~l~T~~ ~lS,
J:l.U...,l1::liL..ZlilG TIm .ll.SSUh~.OB 01 OITY OF LA i,; O..\TE .t,~TERW'omro
JUJD 3E!i1E!lSY5'lIEf.j ~VENUE rJONDH, SERIES 1948, lIi TIlE
iU~OlmT Of ~250,,()OO. FOR :;,aIm ptmpOOB OF COrmTROCTINQ
EXI~lmrfIm;G AND DlJ'RCiV'mmNTS ~~O THE l/ATERilOI:r.5 SY3Tm.l
AIID T~m GIDlER SYOTEioi OF SAi]) CITY; PIUroCRIillnG THE FORlt1
Of :JO~;P AND I!JTEREST COUPOlf J Pl.EDGINU 'rItE ~NUES OF
T1:D~ 'W'ATBlU.rORKS 3YSTlI4 J\ND THE SEWER ZYGT!:fI OliO :JAID CITY
'l'0 fAY Ifl:iE RRmCIPAL Or. AND II~RE..sT ON OJ\ID 1JONDS AFr~
PROVIDIUG POR TliE EXPENSES OF OPERATING MID 3Y3TEMS J
W:a.lrlNG CEl~TAIli OOWW~~IT$ OF SAID CITY '~rru BEFERBNCE TO
T"'dE eoll'D Fm~ FROM WICR O.AlD PRINOIPAL ANI) INTEREST J,RE
TO nE ?J~ID; PROVJJ)U1Q ~IIAT TIlE nOIDEH O~ Hr~LD!mS 011 MID
BONDS S.dALL tth"VER UAVE TilE RIGHT TODEI.1Al4D PAYMENT OF
SJdU OBi.IQA.'1fIOlfS OUT Oi AW FUNDS RAISY,,!) Oli TO DE RA1SED
:BY TAXATIONJ f.tl\EING CERTAIN mOVI3IOIfS W1TH H6FEREUCE TO
~~ ISSlUiliCE OP ''l8J ....A.IIlING BOiIDS AUTHORIZED N:f THE
~j,JfCTI()N l!EL'O Oil?r~!!.n'OJ\Rl 21, 1943, Aim DEC1'.ARIDG AN
ElJ.UtIiGDCY .
..,....----.
"
lfiOOEAS" the C1ty COlili111sn1on of the City of :i.l1 Porte, TElXBS,
has heretofore on the 2nd day of Februal"J. 1948" adopted (). resolu-
tion Bnd or-de:tt 0811ing an elect1011. on the quest1cna of the
lesuanco of Revenue Bondo ot tIle City oi' !a Poi'to in tl1e amoWlt
or ~eoo,ooo.OO, bearing interest at e X-8te not to &);,ceod 5~; per
G1UlUiB" f\>::, tIJ.o purpose o~ eO!t!t~uct1ni extensions ulld iblprovements
te t:ae vaterlorks :aYGt;em of B&itlOity" a.nd tlJ.v 1CZCUiJ.nco 'ot:
Revenue Bonds of the City. nf La Porte in the nmount or $300,000.00;,
bearing .l1ltOJilcat a.t G rate not to e:x;oeotl ~~ pel"' n..m1tlm" for the
purPf,)se ot constructing ext01lD1ons and tmprOVOIllG:"lto to the sover
o:rste::i1 {.f seoid City; and providlnZ toot if both propositions for
the issl,.iB.uce of said \Jowls wcr~ t:ii.dopted., :Jcid Ci'~~':';ol1i1liaBlon
6~Ou1G ~,~ve the ri&~t to iSDue c~:;abinod tIuteNQr::s Md Sauer
System LevenuEI Donds in the Iiill'3.ximum WtlOunt of ~~OO" ~OQ. 00. and
~ -~~
e
to pled.~,;0 t.~'1cn.f)t rS'70:il.Ues of' the 'i'-!e.tsX'tTorim c.nt: nc.rOJ:> G~-ateill to
tile: ~~l~:ll%"lt o~ tt..e p1l1nei~1 01' &r..d into!lt)st on emS.J bonds; and
~:-a.tFJ(El'-f. ~ e~:ta E>lect1on una held ';>UI'I3Url.nt to ~C:lCl resolu...
tlO6l U2'J.ti. order er..d i!l aocotacronue w;;'th lt~w on t~:o ?lf3t day of
Fab:i'US1\}" 19)~e. anti. rc,m.lted fCV01'1cbly to the ifJsu..:~.nee of' aaid
e
F.e",;r~nuc Hondo J l~cl
-~llmnEfi.S, ti:le City COmmi~o10n die. on the ... (~ day of
~4 ,,1948~ a.dopt c~ rosolution d.ocmri.n3 the results of'
.
..
".,.-.....
",
o&1d elelJtion and deterrUnill6 the opeoific autho:!'lty ot the
City to ::'s9ue sa.ia. revanUG bonc1tsJ ond
~;.i~w.;AOJl aeld ~~bove mentionod election did e'tlt~lo%'ize the
issuance of~on'binod llQt\F)rwo~~ks llndSever GystOill lievenue Bonds
.e
.e
and the )led,g;ing of the net revenues of the comb::ned lfat erworks
and 3eve:.... System to the payment of &c1d bor.ds; and
~l~. the C1t~ Cornmi~o1on nay deems it advisablo and
to the best 1ntero~t Qf oaid City that of the bonds so author-
lzed at :Jaid election only $250jOOO.00 of bonds Rtlculd be iosued
~t this .tiJ:i.Gllll and that oBia 'uondo 1n the omount of ~250"OOO.OO
should be 1$$ucd a, combined \Jator'Wol'ks and SetTer System Revenue
Bonds; and
\\'HEBiAS, it 1s now neccl';Js&X7 and pl"'ope:r tl;ll.t the City
~~D8i~ln procEJOO with the issuance of such l'ovenue bonds;
T.lIE.REPORE, BE IT ORDAlrr.t!lD BY'TUE Clft CO,,~.uS3ION OF
!,:filE CITY OP IA PORTE.. TEXAS:
1.
T.~~\t for the purPODO of cOMtr".1etlDg extensions &nd
lmprovements to the waterworlce aystem end the Oe\lOI? system of
the C1t:," of IB. Porte, TeX&sD a.nd pursuont to the Oonstitution
'''''--... ./
end St8t~tee of the State of Texas, 1nolu4in8 pa~t1aular1y
Artiolos 1111. - 1118, both inclus1vo, of the HeviseU Civil
Statutes ot !texas, 1925.- BS amended.. and in accord&noe with
the election held tor that purpose, tnere shall be issued
CrT~ OF .I;A PORTE llATERIiOIlliJ~ A~'D SE\mn aYSTBr.~ r~V:UiMJ.I~; BermS,
SUiIJro 1940, in the principa1 ngBrcga.te $wn of Two Hund.1'ed and
.--....
/" ....
.-
~
e'
F1ftu Tlloueand ($250,000.00) Do~rB, to be numbered from One
(1) to T'W'oHun<u-ec1 and Fifty (250)" inclusive, in the denom:l..m-
tion of One '!houeand ($1,000.00) Dollars each; of which $40,000
shall be expended fO%.lthe purpose ot constructing e.xtensiono and
improv.ements to the waterwox.ks system, and $210,000 shall be
expended for the p'W."POse or constructinG extensions and improve-
menta to the sever 8)t$tem.
"
'-'~
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II.
That said bonds Rhal1 'jo (iu'(jed I.b:rch 15, 19J.0, (LU(l shall
boc.l' s:.ttO!~u:Jt f'rom de.te tl8;;;0110'..,3: Donds fil1L1bcrfl J. to 151,
inoluniv(;;!.t a.t the l'e,te o:\' tiu-.oo GOO tllIlf)C....f'OUI~thD (3"3/4~)
per eent )e:r Wltmm, an~ ZlOllAs ITtunbers 152 to n~oJ ir\(:luolve, at
the rate ,~1' tm-eo Glt~ o14e-ha.lr (:5-1/~;:.J) j;E/1' ee."1t ))~r annum, in-
terest p:;t,]J-ablc Baptembe~ 151 1948 and ;'Jcm-ann~ally thGl"oofte~
on ~.ja;rGh 15th and 3eptcn:ibE>r 15th in. Well )i-ear; S\lzh ll1.te:reat to
baeviderl.ced trJ proper ~OUpon3 a.tt~ched to each of ~aid bonds;
the PJli!lc:dpal ot end jntol'eat or.. S8~d bonds sh.D.ll bo l=GYl1ble in
lawful Illnney of the, Unitod Sta.tes of Al'ilO:dcE1 upon prooc'ntation
and $ur1tE~nde:r or the bonds or propor coupone et the l-'irst lIc.tion-
a1 l?Ank, !.o. Porte, f}1(}::lLUS.
, -_./
.--.......
;-
\
III.
Tl'lnt ua;ld ~oolU1s aball ~tUI'e as follouf3:
~ 'In'1i~1'''i~1:)O
,0;;..,1. ."..u~.d.U..n~
I 1.'1"
1 '... :>
6- 10
11- lt~.
...
16 - 20
21 .. 26
~7 ... 3.0:'\
".f 1'.
.,
.....~ 3"-
:J:J'" 1 .,
':'1" ... 4'f
.4'
~,
~.:
ItS ... 51
:'2 ... 58
~~ ... 76~
~U'" ~.
73 .. So
01 .. oe
89 ... go
97 ... lG~
105 .. lJ~3
11_ ... l~~r
:413 - 1:,;1
:e
.,;~ ... 11,'jl_
iZf2 - 1!)1
lS~ ... 162
163 - 1'13
174 ... le~
186 .. 197
198 ... ~~)9
~lO ... :,?;'?~
223 ... 23'~
n37 - 2:50
lnclUS1'i1e
tt .
er
11
g'~~Yif!i~ p!\T~p
tttu~3h 15, 19tH)
rl~rch 15 1950
U'3.rc.h 15: 1951
r..~rch 15; 1952
fll,lPYU$S
~, 5,000
5,000
!),OOO
5,000
6,000
G.,ooo
6,000
6,000
7,000
7,000
7,000
7,000
8,000
8,000
8,000
0,000
9,000
9,000
9,000
n
tl
."
"1
Uaroh l~) ~ 1953
r~rch 15! 1954
i'~l.re..~ 15,1955
!.~rc.."'1 15, 19:56
"
u
n
ti
:.=0.::011 lD #
!.b;.peh 15,
~.1aroh 15 J
~lnroh 15 J
lS57
1958
19~9
1950
1961
i~~~
l!i61}
ft
n
'II
"
I'4'al"ah 1!J ~
It:l.rah 15,
l.'}::!;J."cb 15,
~.:sreh 15,
tr
f;n~cil 15 J 1965
r,lerc~ 15, 19G6
'i""'...,....... lC1i 19t:...,'
... a.:.... --....4 . .",. :J '"
'I
""
1'1
l~rch, 15 ~ 196:1
;1al'eh 15 ~ 1969
March 15, 1970
l1a;rch. l!),t 19'/1
10 , Oi~O
10,000
U,OOO
11,000
12 , 000
12,000
12,000
13.000
14.000
14,000
n
If
It
f1
!~l'"("~l 15.. 1972
I-arch 15 ~ 1973
I'll.rob 15, 19ft 4
r.
"
13
"" } J ,., 19";
;.,.),ro). .',) $' f -'
t'7ar.::h 1!3.. 1915
mren 15, lSn7
n
n
.
.
..~"'"
,',e
With 15ond~ Number3 '97 to 250, ::.n~lus1ve~ optional in their inverse
UUu1.srloo1. ordell on Y.arch 15, 1963, or on any interest poyment
date thereafter.
IV.
'1'l"..a. teach ot sa1d bonds shall be Gizned by the rc~yor tmd
countersigned by the 01ty Clerk" and the corporate seal or the
City of Ie. Porte.. '1'ems, shall be 1mpressed upon each of said
bonds. ~t, the r..c81m11e signatures ot the Mayor and City ClerIc
uny be printed, ena;raved 0%) lithographed upon the ooupons
e.ttaohed to said bonds and 8l1e.11 have the same eft'eot as if
they had been signed by said ott1c1als.
. . .-........,
e
v.
That thetorm of said bonds ohall be fJubsta,nt1elly as
tollow$:
NO. $1,000
UNITW 5TATES OP AlwmBICA
STATJi1 OF TEXAS
----...
"'
COUli'PY OF HARRIS
CI'l'Y OF IA POR'l'E WATERH'Omw Afm flF,W'.2R SYST"Jl~ HlMnlUE nonn
SERIES 1948
TSE C In OF ]'A ponTE" S.n th.e Oounty of lIaJ:t11.i.o _ in tile
State of' T$.Us., tor va.lue receivEld, hereby aokno'l11etlS81 itself'
1.~ebteca to $.tld p:rom1sen to pay to the bearer on. the 15th rJay
at' Me.~ch~ 19. , the eWD ot
OD THOUSARD DOLlARS
(~l.JCOO.OO)J in lewtul ttlOney of the United Sta.tes of America,
'Wlth 1nter$9t thel"Et~"'); trom date heX'eo:f at the rate of -
.. . ~ (, .~r:pe~ cent per annum. :r;ayable September
15. ),glJ$J and; serni..ar.tn\W.lly thereat''ter on Maroh 15th nnd Septcrn-
ber15th 1n each iee.>> I u.nt11 the prinoipel SUL"'l shall be paid,
upon the pJaesentatlon and 8ulTender or prop8F ooupons 8S they
aev.~11y become 4u~; both prinoipal and 1nte~e3t being ps,sble
at the First National Bank, 1a Porte, Texas.
THIS BOND 1s onE> of' a. eerlea of Two Rundl:,eCl and Fifty
(250) bonds, numbel'ecl from One (1) to Two Hundred nnd Pifty
~,
e.
...
.,.
.
e
-
(250)" i.ncluf'Jive~ ,:L., the uenor.J.!..:rJStion ot Ono Thousand ($1.000.00)
~11e.rs 'oao..~" ~eB1~el,;6t:Lnf: TWo Ut~dred and Fifty ~~uDand
($~50.t'oO'.OO) DolU\:rs.. 1G8UeU ~f tbe C1tl Of Ia j,)o%.te, Texas,
fo~ the 'pl.\Z";pose ot oon.l!tru~1nC extensions and .1Llp%'ovements to
the vnt~I.\fOl~ke aya.tem er,<l tho a~';er systeCl of en:..il~;it~l" in
eocorda~JQ ~lth. the Const1tutioa end Lavs of tho State of Texas,
inolUdinG PfU~ieu1e.rly Articles l1U ... lUS.. both ;1.uoluS1vo" of
the llevi$ed C~v11 Ste.tutes of '1'0_8, 1925, as ~.1ended, tho
c.uthol'1tJl oi a vote uf the qunl::.,fied E)lactol)~ of' tl.le City of
Is. 1'O%1;Et, "'~oown4!'Jd ts..mble proj;),rt:Y in sa.id Cit~' bnd wno had
duly l'ende~ed the same tor tax&t1on, voting at en election held
on the ~lst day or Februery t 1S48, and pursuant to an ord1nance
passed '!i)U the C1t.v Comm1sa!on ot the Cj,ty of Ie Porte. Texas.
du~ re'Jorcl$d in the r~utes of' the City Cowm1eaion.
'{lhe date of thls bollA, J.n oonf'orm1t3" Wi,th tile ordinanoe
above mentioned. 18 !b~eh 151 1948.
~ls bond.~ i\nd tl,..e $arle!~ of: whleh it i8 B part, consti-
tute speoial oblifJ\tions of' the City of I.a Porte, Texas, payable
solely from end eeallrtld ~ ~,n e:a:olua1v0 first 11e4l1 Oll c:.ud plottc;e
at the revenues of the llat&1"Works System and the l\ever 3ystem of
so1d City. after deduotion of rees0n9.blc opel"'!',tioll end ma1ntcoonce
expense'o; provided, that the relal?1n1ns bonde in the C:t[;greE,;.?Qte
Clli01.mt or $250.000" 00, t!.uthor.1zed et aBid electi on !leld on the
21st (k:.~t of i'ebr\1Bl'y. 19-48, when $n4 if 1s!Jued t...n~ sold shall
be .on u paJ>>lty with the bonds of this aeries.
The hpldel" hereof almll never be.ve the rleht to demand
pa.;yInez::t ~ ~s obligation out o1~ o.ny tuna.a r8;!..f1EK1. 1)r to be
:M1sed by te._t1.on.
'!l:ie City of !B.Pome rfJee1'Ve~ tho X'.teht to :tJeaeem Bone" !Joo.
97 to ~;5o. inolus1ve.. in theU" inverse nW3er1cal order" on I4nzach
15. 1963. OJ;~ cmell)' itltereet pBime~l.t date thert;mfter.. 'by payinB
pr1l:iCli~~1 e.n.d accrued interest th~on. ant! in Cle:!.se tl1e oct!O :ls
eallet~ in to'!" red-oaption before mturity" notice thereof in W1~iti.n{;
she.ll be C31ven by the City Clel'k of f:Q.ld City to tIle P1ret riot101'.al
/~
--
.."- - ~ ....
-
,..----.
"
,'"
.
.
~
e
n?nk~ La Porte, l'exee, at least thirty (30) days prior to the
deto tixed tOl'i redemption; and s614 City Clel'k sh811 also cause
8 copy of sUdh notioe to be published in some t1n~neial Journal
pubUshed in the Stato ot Texas one time at looot thirty (30)
dayo prior to the d.8tof1Xod tor redOiJpt1on; and jj' this bond
is not p:i~esented tor red.empt1on, 'the name eba1.1 ceaeo to boor
interest ix-om and e.fter the date 80 tued toX' redemption.
("J~~ "~J ?R~(~l ThO above para81'8ph 6pplic:t} only to
Bonds on. 97 to 250, ~lclU81ve).
A:~3) IT IS HEllEnt CERTIF:mD toot the 1ssuancc 01' this bond..
Ul1U 't;i;e sor1es of vh10h 1t 10 u part, i. duly autho:-izoo by law,
t;oot BJ.:1. note, c~it1ona and th.i11G$ ~equired to exist and to be
done precedent to e.nd 1n tile issUBl.lce of tlUe bond to ronclCll,? the
Que h\vi"'Ul and valia, imve been properly done, Mve ooppened end
be,ve been pertoraed in vegular a.nddue time.. form und. u.anner as
required bl the Oonstitution and 16ws of' the Stato of rl'exaa, and
tlle orcU.nanoe here1nabove ment:J.oned, e..nd that this 80r1es of
revenue b0n4s dOlllanot exceed any oonat1tut1oXIBl or statutory
l1m1tat10n. and that provis1on bas been mde 1-'o~ tile poyment or
tbo pr:i.nc1pal and. interest of this bond cncl the Dorion 01' vMoh
it 18 & part, by irrevoeably pledging the revenueo of tho Water-
works ayst6D and the SeveX' Systom ot the C1t1 O~" :.a Port;E>, Texas.
,IN t'BSTIl,%On WHBl~l;;llP~ the City- Comm1ss1on or the City of
IA Porte, 1'exas, Uas eauaed the seal ot said City to be hereon
impressed" o.nc1 this bond to be s1@1ecl b".f the Mayor of GSld City $
counterB1~e4 b1 the 01t7 Olerk.. a.nc1 has caused the annexed
interest ooupons to be n1.gned by the te.csim:.Lle signatures of the
illlayor and .the 01ty Clerk.
-
----.....
\
e\
, I
/
----
'1&yo1', C1ty ot lil Port~. Texas. .
COONTERSIGlmD I
~rtl i:)1erk", City" of Is. Porte, Toms.
VI.
--....,,-
That the f"orm or ,aid coupons to be attached to Honde
10$. 1 to 96. 1ncluai ve. shnll be 8ubntant1ally as follotTs:
--
.
e
/..---.........
e
NO.
$
'. -..----..
ON THE 1,m DAY OF
... , 19_,
THB CIn' OF LA POR'1'E, TEtA.'J. will pay to bearer .froAn tl1e funw"
speoified in the bond to which this coupon 1a attached. at th~
first National Bonk. La Porte, Texas, the SUlU ot
($ J Dollars. 1lJ. lawful money or the United states of
i;.mer1ce. ~ 0614 sum being s1xmonths' interest due that day on
GITY OF IA PORTE l~ATEn~10RK3 AIm SE'ilER SYSTEM NEVENOB DOrm,
smms 1948.. dated J.~rcll 15, 1948" No. 1 ,to Vll10h this
ooupon 1$ attaObed and is a part thereof . Tile holdor horeof
shall nf3V8;r bave the l'iSht to de.tl8nd payment of th:I.s obl1[1.tt1on
out or e.ny funds m1sed OJ! to be raised 'by taxation.
,- - .;;.. ~.
/"
.
!<$ayor, 01ty of La Porte, T0X6C.
City c!erk"C1.ty of Ia Pone, Tems.
That the fol'l1.l of said coupons to be attached to Bonda
Nos. g{ to 250.. 1nelull VEt, shall be 8ubstsnt1a11y as tollows:
NO._ *
ON THE 15TH DAY OF
. ".
.. 19_,
THE Cl'T'Y or.LA PORTE, TEXAS, will pa'1 to bearer (vnJ,eas the
bond to which. th18 coupon 1s attached shall have been called
tor pe.YJIent B8 ther~1:n prOVided and payment made or provided for)
out of tunds epec1.f1od in the 'bond to which this coupon 1s
ettached at the P1rat :Nat1.ona1 Bank" Is. Porte, Texas, the Dum
of ($) Dollars, in ls.ltfu1 money
of the Un1ted StAt.a . ~.f.Ame1'1oa, a8j,d sum being six month.'
"
int..est due tbst. da1 on CIn OF LA PORTE WA'l'ERWiORK8 AIID Sj;.jllEH
3YST.2M Rl!lVElWB B01m. SERIES 1948, dated M$rch 1:;, 1948.. 50._,
to which th.is coupon 1s attached and is a part thereof. TIle
holder 11ereot sb&1l never have the 1'1ght to delDBnd payment of
,p-.......
'-... ~/'
~
-I
~
.
e
---~,
':~e"'.
,/
this obUgat1'on out ot 8l1J' funds ra1$ed or to be roised by
taxation.
Mayor. C,1ty or IS Porte,,' Texas.
City Clerk, City of LB. ~orte, Tems.
VII.
That sub8tant1allJ the folloWinS certif1cate shall be
printed on the back of .each bOnO.l
OFF1CE OF OOMPTHOLLTm )
STA~E OF' TEXAS l
--
/ '
-
I ll.ERtBY CERTIFY that there 1s on tile end of- record in
:D.9 otfloe a certificate of the Attorney General of the State of
Texas t~) th.e etfect tbat this bond has been exarlttned by him aa
reqUired by 1e.". ~ and tbet he finds that it ns.$ been issued in
oontor.m.:lty with the Oonst1tution end laws of the Stete ot Teme,
and th&t it 18 Q yal14 and' binding speoial obligation of 8810
Cit, ot IA Porte, Texas, p?>ya.ble ~o!llthe revenUO$ pledGed to
1 to PBJulel'lt by and in tlle ord1ne.nce authorizing sume. and Oo.i(l
bond bas this day been registered blr me.
'lfrl'l'iBSS aa RAID an4 seal of office at Austin, Texas,
'~._--~.
,,--... \
e'
thla
.. .
.
Comptroller of Pub110 .l~ccounts of
The State of Texan.
VIII.
,In this ord.1n8nco the term USystem" 80011 inc1u.de and
mean t~le W&t81"WOrke a,",stem and tbe sever system 01' so.14 C 1ty ,
together w1th ~ additions and extensions thereto and w!)rove-
~ent. and replacements tbel'oot.
IX.
--..
'\
.'
The 01tyOoD1llJ1a81on shall at 0.11 times ~ while any of sald
bonds or any interest thereon are outstetand1ng and unpaid,
c:n&rge an.(} collect ror services :rendered by aaid 5ystcm" raton
ouftio1ont to pay all mainten8nce_ deprec1.e.tion, reple.comont~
betterment and interest ohe.:ttcea ~ anc1 for Interest and Sinking
rune! suffloiunt to }>8'9 the interest and pFinc1pa.l (1) 00.:::.6 bonds
6.S Buell ]));)1neipal and interest lx::.tU1"es end eocrueu l:.n.(l any out-
aten41ne :1ndebtoc1nees tl.gtLinst the system., c.s 1s requ!"l"oo by
I\Jlt1cle 1113... RE)v1eeO. 01'1111 ,Dt8tutes of Texas, 1!)E5" on.d Gmend-
m.ent$ tho%'cto. For the benefit of tho original 1iur~w..noor, and
f'OIl the "!)onetit of' ~.ny and nllsubr:equmt holG.el'lt:. oi' aaid bonc1os
cO"olpons, OIb any psrt thereof, 4n(l, in addition 'to e.llotl1er pro-
visions l:~nd o.ov$M.Ats in the ki.VB of' tlle 3tc-te of: ~1.1cxetl end in
this ore:~~ImnceJl lt 10 eltpreO(1ly fltil)ulatod:
f!o . 1U~ = lJ.'ilc City shall f:"J: und oomtrdll I'8te~ and
collect cbaX'g.os 1'oxa the faa11it1ea and Gerv~ees u~ror<1od ty tho
Syote~ vMon 'ttill proVido 1'(;venues auft:;'ulent at ell t.l.iLJ.OO:
(1) \'0 pay all operations, naintenAnctil; depreoiatioo"
111op].Qoemen-ba nnd betterment charsoG oi' thQ Syote::1.
To establish end maintQ1n the Uond FtUlU.
1'/ -'--'
-
,
//
,
/'
/
T
~......
:' 4ft"
"
(2)
tn
.~.
.
../
,
.
To pay all outatGndin6 iDde'btecnoso c:~gc.:1..not tho
31ste&~ othelll tban bondf.l. ~$ one. ,rlJ.en tho fjOlliC
becomes due. Pl'1ov1clGd also, toot no fl")ce oo~ieo
of ,tIle Syetem uhnl1 be alloYed, ~~nd ahoulci. tho
C1t~ or any of its agencies or lnst~~talit1~s
mke use of the Be~v1ces end f'c.c:llltico of tho
8Y$te::, pa:.'Oent of the ree.sonsbl(; va,luG t!'lCireof
eha]'l '0& rado by the City out of f'ur..ds derived
frCl~ sources otl1.er tban the reve%lU()~~ and inco:ne
or the System.
B. 1mB 0" ~P1l5-t The City "111 dep08~~t ns ()olleeterl
all revenue. de1'1'ved from the operation of tilo r-ystem into n
separate aecount (hel"81n called tLe "System Pund") Wllich el'IDll
be kopt sep1u~e,te and apart frOI'll aU other funds of' the City.
The System :Fund shall be adl'Jlj n1stercd tl.S tollows:
/.--.......
e
~.
.'.-. ,
\.. - ,
- /"
~-.
e
",
....
"!!IlP"
.
.
(1) !3ond"~: Pro:! the funds in the ~)~l~~teL1 lour:.,",
the Oity 811611 pay 1nto th.o Bond Fund during each ;,rear 1n which
ar...y 01' the bonds 8X'e outsta.n(11n8~COtL:iWnc1ng with the data o~ tllo
4eli"$l:yof the bonds noco:'l.n c.utt.orizccl to the plt..llcmHJera thoreof /J
SB aoount cqunl to 100 pElI' eentuou 01 the 6tyjunt j,'~"QT.lL.!l'Ot.1 to Hoat
t:ao inteJient mld prino1pal' per..wnta :rolling duo on 01" beforo the
ne:.t1; met\r.I~it~.. dato ofl tlle b=.c1o. In uddition to SUcll ,po.yment,
't;l1o ~1t~ siloll vay lntl 0 tl10 laond l'und 1';>>QO the r.,~atcB Puna :1n
~~h Y€U'J:- t'i1-onty (2~~) .vo~ eontum at) t11e above ~')O~lu..irci1 mJOun~
UAlt;;.l iJucb time us tllor" is 1n the Bond. .Fund on t:~.uwun.t our:?1cient
to J1eet t~a intEWE:et and pl'linoipll ~YiJent3 f'allii.lJ due 0;1 or
before tas next lJa.tur~ty dAte of t~o iJo.'1.do and t~le ~.rJ.toI)~st alul
princ1pa.1 ;ps.y.uonts on the 1,loJ1(J,s fOIt tvo ~t)G.rs t.ila:r~:.\fto~. fJ.'i;1C
8UOunt required to be paid into tb.c ilond J.,lun,d in ooc;iJ. ye.:;.r I:tm1l.1
'be p&iU 1nsubt1tant:La1l)~ equal QOntUly ~~uonta i'~ J t~e :.n.oneys
in t~'le etystem Fun4, nt~~ deGu~'tio:n.s have been nt~de f'o~ l:a.ymc.;
the reo.e;oncble cost of the oi)6i'atinS end t:aintGlnil.li; of t,lJ.e
~:lystem 1.01' fluc24 mant.... If tho revenues of tho LyotCUl in any
month, ufter 4educt10DJlJ rOl~ opereti~ G.nd maiIl':;{;:lEl,\OO~ a:ac ~..u'"
sufficient to wake tl.1e r'ilqu.i.red ~YiD.ont into tilo 2.'nd Pu.ni:l.~ then
th.e a.mo'unt of ~' de1-io1enol ill tho po.ymont k::m.Ui;e ~tldo~ '~o t~J.0
amount utlJ.oi"'"tlise l.~equi;>cd to be ,paid into the ilo.at1 Fu..~ ll:;. the
l'lex' molttb. It it the intent of this provls:ton toot the OUlJO
pale into the Dona. f"lUUl shall 'be in E)XcE;SS of' t;le ::::-ill!E:c.:iato
:\:'tlqUlrejJ1enta ro!:' 1Jtlyment o:i:' .:lnter:ast on aDd pJ;'inci,;;nl 0: t::e
boacl8 ',wtlJ. 1;bore 11&5 been COC'ltmu1.o.ted :In the E~ ?;.\'lc1" e.~
Do l"eseJ.'Vs for oont1n~$nclea I an aMount a'af:fleient to sorvice
the bOJ:lds for, two years. Tho moneys in the DOl.l.d 'Fund 3A1s11 be
used 801el1 .for thu p'U1"pose of pc.y:1ng interest 0:1 .:.:nci princi~l::"
of the bonds until 611 the bonds have been vet;l.1"ed; pllov~c1od that"
wilen the total :tn the Bond.. Fund 1s equal to tl10 &~e~to pr3.n-
cipal amount of the bonde out$tandin~ plus aoc~ued inte~cet
thereon", the mone~s in tbe lbnd iUIld mtty 'bo u~ed to plU'cCase
.
. .
.
/',.. - --.. .
......,',
r. i
8~~d bond~ at n price, exclusive of accrued intereet, not e~eeed.
int3 the' principal attJ.oU;.~t thereof; O~ to redeem said 'bo1),de in
accordance with the redemption prOVision contained Sn 3eotion
III of thin ordinanoe. The moneys po.14 into the .Jor:.d f.'tWA 81n11
'be d$pos~.ted in a bl"'..nk or bsnl(;s and ttba.ll be oont,i.ntl.~'iT-91:r ceeu~ea
't~, a ml:::.d pltX1ae to the City or: d1.reet ob11~t1ono or the VJnitcd
8tatelJ of A~Gr'lcaJt l'1ev.1nc; an ecr.,.egate market values EJ:%:cluB1vo
of eecru.od intel't'sts ~t 011 times c.t lea~t equnl to ouch. Bond
-_.~-...
/' .
Fl'nd. T,w Sand Ftmd, lI.t thE) opt 1 em. of' the City. ::!t.I~7 bo invectcd
~:.:. ell~h direct oblizat1on~ of tho United 8te.telJ of ~~.r.::()ricc. l'!.Rld
depoSited in .aGoraw under an eacrO\1 egraoemellt. !f ;1uoh f'undo Rre
e
B() 1nve~t(.-d end depoe1ted in escrou Jl t!10 C~.t~T c:;,1'11!. hG1i'c t:.1Ei r$;.:ilt
to aeve ::'fold tAwo\'l..r~b tAG OSCI'Ot.v' acont on the or.c~J. ::}'1:,1!(}t c
tr~floie'r:.t p,mount of saie ceeur1tiQs in order t~ ncot its obl::'(0.-
tl0Z'l1! 0:" princi:r.e.l and Ultt:'reat :l..~ evoo.t it doe:" ;.~ct hr:-.vo o'Gfl'i-
c:l~t funds, uninvosted, OIl. r..snd tor such pUl"po!:{j. Under snob
6!rOUl:l1nt~(m6ee, ~le ,}hyo~ 10 horeby au.thorized.. cl'dorcd f:'nd
d.t1)eatEit! 'to c1VEJ tift~en dt\yr.l noti\'l19 to ~t!Ch eJ~~:;::Ci\j' ('.~~cnt of
. toe necossltw to sell acid seeUl~:lt1es on tbe open rr~r~ot. Aftc~
SUC~l f;'la:2.e, the moaeyr:.1 resulting therefrom shall 'ba-10!!3 to t~la
Bond F\ll'ld s~..d ehe.ll l)e ~.w.1]n.blE) to pey ouch obl;:ef.1.t:lone of
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principal end .1.nterOGt.
(2) ~~~lu.t3 c An:y funds remaining 1.n th.e Sygtem Puncl'l)
after r,roviS1on for the reaeolb~blo coat of opell!.l.t~.n8 nna ~:1.n-
ts~n1n.E; tb$ System. and B,fter 1)Oy1n~ tl".e amount~ :noqu1reCl to be
p!\:td 11'~'to tho Bond Fund, an above provided, rn.."\y 'b~; u~od by the
City :t1tlr the pUr'c.be..~E) of said bonds t\t not exeeed:t'nB the princip:11
amount t!:l&~eot (exclusive or a.ccrUed interest) or for redeec.inG
aa1d bond$ in aocordance with the redemption prov1nlon contained
in Section .111 of this ordinance,. or for any other puruooe po~-
witted l;:.y lav.
~ . ADDITIONAL BOJ1P~ l Epettt"19rance 8!ld. ~al~. Hhile aD;'}'
of' the. \)ends are out 8 tanding , the City 90011 not iesua o'!!il
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f30urees other tlJae the OP05tiOll o,f' t~le G~stom" ib'a~; noth~
herem attall be oQnotrucd us preventiDt; the CJ.t~. fJ.'OID doing flO.
E. A~~Om~ tU~p ~Hi;IDIC. STA~1tl1tiTg: Tl~e G.lty olwJll keep
3L"'opor books of r$cords a.ud accounts (soJ)D.rotQ :frop. ell othG:f'
.lleoQr4G &nd accounts) in whicli complete and oOr:'rect fDIltl1ie13
aiJe.ll JJf.l l~de of e.ll tJlt'.aeaotions rele.t1ne to tile. fl~atem. "ilhe
City or.tJ.l ':lumiah to fl%\V bolder 01" E.U:lY of' tile bOilltT.B i a.t the
wl")ittoi:.l raqulalst of sl10h hol<icr. notmol"e tnan tll.l..rty c:ic.ya v.f'ter
e
t~.e 010(10 at' SUoi:l siz months' f1seal period. oowplete OpeX-a.til1g
uwl :lneO;}6 st6tem..ts ot the 9;'/StU in l-aG8souable uetail. oove:t'-
;i;.nS Bue:i:!. six molltoa' periOd" and, not more tban $:i.JI~t;{ aa;ys e.ftel~
tl1e close 011 ea.eh ,risenl year, oOhlplete t'inaucil11 statements of
tile u~tGtem in reauonable detail cove~i1lB suob 1'15001 year I cer-
tU';led 1;W tllEl Cit~"s Aud1tor.
19 . ~~T~Olf: Mrj' pure.hBser of 25 ,per contum in 6&;grO-
eat. Pl'1t.lo:lpe.1Wllount 01' tne bouds at 'the tiue t:ilerl out6tl\nai~
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o:t~ any l&oltlel~ or ilolciers of 25 per centum Of' eel.a nmOt~nt 01" out..
standing 'iJonda 8ball have tile right at all reasGm;.:b:le timee to
l::lopac~ the 'J'stem ana a~l records~ 80Qounta ane UH;tC. 01' th()
-
Oity relatlXl8 thereto.
0. A!.\iFO~'lJ.O&'H Upon tile v:t'1tten request.. tal} City will
J;'urn1sh to ~ pUX'ehSserof 25 per oentUCl oi' tbe bouas 3UoJ.1
i'inancU.l st4:\te.:um.ta and otber pe1t1nent info1'11'W.tlon and datu
:relating to tbe 0ity and the B)"steLJ ao 3uch pUFCJ.aneT' from time
to time LOf.j.y reasons bly reqU1J'e.
B. ~UaE pp ~r.n:t$s 'ijpon. l'equeetj 'tae Cit~ v:;..ll i'ur-nish to
O'!J9 purch8sex- 011 1101dsI' 01'25 per centum 01- the 'bonds, 1n1'Ol~j'dE!."
tlon f'01't t!le preparation or a bond. c~.r13uJAr in (a18to;-.m,]?y r':>l':.:.l;
sJ.cnod l~ tbe proper o:l'f'ie1als of' the C:t.ty ~ (Jonte,:J.:uJ.DB ouoh
dBta 0.8 such pureMser or aolda:e my reuoooobly req:ucnt aon-
cermn,s tho Oity s.nd the ~Y8tell1.
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~he LctawOl', City Cl.()1"'1~ 6nd City Treasurer 8.X-O hereby in-
structed end. d1reotetl; to do a.n~' &nd 811 thinGS necesaol'V' and/or
conven!~:i'lt 1n vefera",ctJ to the 1nntallin~ end ~12,1utr:.:1n1~ of C,
CnT.:1plet,) eyatem of 1~ecol'd8 ent1, accounts porte,in:'.nc to e&id
8~'OtO:'n r'n1 to l1~O the :noneys eva,~]eble for the yn~~"]ent 0: ec1d
rovenue bonds in the oonnota provided by eheptor J2f' j /\,ets of
the POt:;"1.11ar 8()ss1on or the Fort~,.-third Lee1~18tt".re of 'l'C.k('.s,
-
eftoct:i.'fJC t1e:r If' f.1 1933. In cooorde,nc€! W~ th tho V:J1'",v:tf'iono of
Art1cll!' 1113j 1925 Rovised Civil 8tatute~1 ot 1'c:~ca.; c.n (!~:1O:r,t\CO'1J
t~t0 f'i~ 1!:1 ~reer f~'(jhe ove~t1on. of euch l':I:.rste;"~...;:iC'.:l.l b()
· , H - L - - to ;Z-..-u-, ~cP=_ -'
XI.
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~.~le City f11l"ther CO'iTem:\nt a by sn(I, throueh tt:..~(' ord:i.nr:,nco
as foll;)Va c
"
(n.) ~hnt the rovonoo hondo eutho%.Sized ho:~eundo~ r-hnl1 lJe
spe(jial ob11gatioM of the <aty and the holder t.he~e~t" F.Jhil11
neV'GV h~lve the r:tl3ht to cior:T,nc.1. payoent thorco.f 0ut of fur.de
ra.l~od l):f to bo rBieed by taxl!1-tiOn..
(":)) The.t ;;.:t hl~~ the :lLn1f"ltl po"1:1cr to pled~e tho revenU0
sU!t!>Ortlne thirD isaue of bonds (4..nd bae lnvfully G:!:erQ1~oo f111.1d
PO~1$~ under the ~ont'titut:ton and In,,~ of, tho f',tatc of Texco!l
1noludin~~ the pO~"0~ exist1n.(; under Artioleo 1111 .. 1110p hoth
ineluslvol' 192.:; flev~.sed Civil ~1tn'tuteD of the f?tr..1;a of' Texno"
with ll~ILendrnentB t?o.croto, and by authority of' 0. "Joto of t!;],o
qooli~j_ro clecto]:i~ cf su;1d C1t" votinG at an Gleci~:ton held in
said Cl-ty on the 21nt da.:r of Peb:t"lJll::"Y, 19~~8J thn,t the bondn
1SBued ilereunder shn.ll be rate.bl:r $ecured under said pled~e of
income in $uoll unnne~ t~t no ~ue bond uhnll M,VO preference
ovar art.y other bond of tb1s ieaue.
f: c) That other than for the pa~ent of the 'bonds bSI'oin
author:Lzed, the rents, !'evenues end income of r.t:\irt syetot:t neve
not been p~Bed in any manner to tho poyment c1~ ~ln:Y' debts or
obliBa.tions or tho City, nor of t10id system.
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. e.dcUtionft.l bonds (other 'tb&n tile r.emainine ~250,OOO of bonds
&'at~orlzed at th.e elcct10n held on F.obruary 21.. 194(1, as horein-
eSter proVided) payable from tbo revenues of tbe syatem tmlesfJ
tlho lien of 9uoh 'bonds l:6lya.ble t:t'Oo thE) revenues or the systom
10 r::;nde ~i un10S- Bnd uubor41mtc J.n aU respeots to the lien of ti1e
bonds he:n}1!>. euthoJ-~ 2eu. In no event, 'trlbl1c any ()f 301d 'bonds
Gre outstnncUtlg WiU the Cit,. mor1it'&e;o or otbeW1tH) enow:.ber tho
ayetem o:r~ lUl:f part tbereoi"; or uo11, leaso orot:lcxv,-!,se dispose
o:t~ any aubatMt1&l portion of such s1sten. Those provle1MS
$hQl1 ~k1". to tbe benefit or end be enf'orcenble bY nny holder
01' an.v of" tht!> bonds.
'ile :re:na1n1ng bendS aQthol'lmed at 8n1d eleetlon helCl on
Fe1Jr\Uu'Y 21, 1946, in the total aoore~tCt amount Of $2~O,OOO.OOj)
i,~'l~' be it~euef.l endeold by tho C;lt,- and such boJ:..is vhe.tl issued
and ,old shall be on a plJl1ty V1tb the bonds hel'eln o.uthol'l~edJ
J;tro111ded.., hOWO"i1Gl', tbSt tbe City $ha.ll not 1ssl:.C ana sell ~
01] such i'ema1n1ng bonds ~ut~lo~.1zad at euid eleat:: on :3.014 on
February 21, 191f;8,. unt.il auch time as the tt.nnut11 revenu.es or
the $:rstel'l1, after 4edu.at!.1n:g the r.~8o:n.c.ble cost 01' opernting
c:ld ~1ntt.in:U:ls tho C:;rstEQ, all ohot."O by th:t-ee ;:re:~l'~ ;l:.storicc.l
net .ea.mi,llgS Of the 6:/st., v1U equal Qt least one &nd one-im.1.f
tl:11eltt, tl'u~ naX!mw11 $lUlU81 ~~u1remente or pr1no1pl~1 ana 1nt~est
co the outstliU'lding. bonds of th.$ $01'1e3 hereU\ o.utho:r,ll3ed.. Bnd
8U~ e.d.d;;~t10.1 boac1B authorized at said ,eloction to be 1nsuec1
and so1c1.
D. :-~l<i.~\ng;J /l~ O~'DATlr'J.1: The City shell ?n~ta:ln
~lO 81sten ~ flOod. oond1.t1= ant.l operate the narno i.n nn
e.fl-.Lo1ent mamel' and at (1) reasonuble coet. So Ions 8.a o.ny of
the bomh; uu,- C)ututnn.d::tDe~~-<:-it~. 6~es to m:~ntfl,ln ins'umnoe
t~or t;h.e benefit at t4:18 Ilolder ~ l'iOlders or the 11onds" OD the
SYSte:l,l of a klnCl an4 1n an saO'W1t w~'l1ch uSWllly vou.l.d lle
ce.:r-r1ed 'lr'J' ~1 vat. C~"1lpan1.~ engaged 1n a alm1181t t;,rpe of
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\lluJ1neSfll . No~:;n tl11a ordirannce aholl 1;;0 o;)nst:t,IY.~d co 1'0-
gU;)J>>WB the 01t1 to expend ~ funde Wh1~1 are d.!-"~~l\t:cd tram
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XII.
It ff;Mll be tho duly or t,\,le Lik.~yor ~o 3Ubmlt '.~l').() rocoJ;'d
of oo.1d b()ndo (1,nd tno 'bonda to ti10 J~ttorney Gcnert:~l of tl10 St.l1te
or Tsxas ;;'~or 4ppro~1 o.nd tLeresttel? to have tll0l1 ree:,tstercd by
t.ho CO:lpt:ooUe:r oj' :t1t1~11o tl.ceount,a of the S'ti8te 01' Texnc.
'101en 1961('1 bonds have beon zto8i~torecl by the Compt.'oller- o~ Public
i\c.countsl t,beCo:;npt.'t'oller is beroby authorized to clelive~ naid
bOnds to 'the . ~'~~~~I .11~"!1'--/ ikwk" Austin"
Taxc,r?! tI UhGl'$ thooy v111 1)$ tJ8id tor by the p\Z%'oha~ers.
XIII.
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The ::"0venue Toonc13 II \tben prope~1y o.."tecuted by the 01 ty
off':tolala Ahnl1 be held ""J the MGyoz:- of the 01ty to hE> delivered
to the y,nll'ohA8er O~ !)u.t'ehel3er~ thereof. ~,t.e MayOl'~ City Clerk
snd City ""enaurer are hf'l'oby authorized end dirc~tcd to do any
o.tt1el1 thj.ne~ neeeBs6I1T e.n4/or convenient to cnrry out the terms
of $Sid purchase 01' of said contt'aot fOl'" de11velT~r or. s&.~d bonc1o.
4t:
XIV.
'l'lmt tile b:td of.4~ ~~~~
on the b()ndo herein 8\lthor1zed., ,t 8 prlce 01' par nr1.Cl acorutd
~~ntere$t'l plus a ~sh :pr-erJ1un of $PL" p , he:!.f'l.g the !:lig.hest
c.nd best bid BUbmitted tor fls14 bonds, be, and tile cene 1s
l1e:reb,. e('~oapted.t and the IS;:Tor. City Clerk a.nd C~.t~r ~r~~Eilll~C:f
nre here'f.)"~r euthor1zod, direotca. o'nu inatNc'tcd to do all tilinge
ne31l$8e.%'.". to d.l1~ caid bcmdn to enid ~ ~ SJ,
~/-d""~~) ,'"'" 'l' 1 , at tho oontract
]JJ:ll:lO$ bereinabove mentioned.
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By' res.$on at th(i tact tlAB.t tile C~ty Comm1ssicm of t~J.EJ C1.tV'
o1~ IA P.orte, Tems, consld.ert:\ the :pat-'SBg8 or t.Jli ~ ordlno.nee UJ.ld
the 188'lJi;1.n~e or sa.id bond$ nooe13snry for tho prcoo:;:tva.tion of t:::.o
publiCI health and aatety of the citlzens of auld City, it ig
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ilEl:l?Cb',/ da~3t!red to be en fJ'.il91'fency oee,eurt. demand::.tlc; t:tat the
rule requlZ'inG ordinances to be !"ead c,t more then ono ~ectiUG
of t~-:te C:i.~y rJomm1ss1on. 'be auspemec;, {l"nd thAt tb11') ~!.'dinanee
t&ke effe~t 1m:nediOtely fIiOlU Bud e.fter its tnssa:;sej) nn1. it 10
so o~1ned. '
1'A:::;;JIl &:iJ> APl'IlCl/Ell thie tho K. {Jay 01'
19'+8.
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n~QW9"L1r.-~~'n7J1'~n..I,~~G.-~TJlp.nS OF Emcl,.~tmi
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!"\"m ~'..',."'~
'~li: :.t:.(''''V~~' -J
,..f.~~7 0'" tTAlt""'Ti';"
~ ,.1. t'. . ...;. +fa. .. ~D'.A.~....., ...1'...1
C J.~ OF 1:ll. 1"OR'T.'E
(}j~ ~~~Us tlAt; /~ d.c:lJ' of ' ~_h -..,/ ~ N~G 'Vlf> .,,~ h~,
... ~~lrr-'-- I} "Rl~~_' ......-'.. 0;I..jJ VC.f.I.i
. , , "
C.:;&:t::1GOlc<'1 CJf tl'o CJty of. r~., POIJto6 :::~~w.e.. COz.\;edUU :in ~~~;
tlc:-c:1o.."l (;1J t1l0 I;~~;~:!" 31eotine place... "ith t;1.0 tollo\i:lD.:1 Gamber's
tt,az1cOf.;; 'f';,n ~r:~;.t 1
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I" ~ O.:.ihil:iS::1;.O~l';;.i.'
CC:iUt111~lCioao.f'
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,- 1..:'.... ~, "'""OF.r.:J'
'n"t:'OSEi;n.t.. d:"lC. .t~o l'ollO'II"lir!J'-,' G~ot";j,"lt: ~ ~ 4~
.t""'.. -Ai;;) lr~_____;<
1 n .----,
CCZJ.Bti.tut.i.l~ a.. quOru,ll, w.~un$ Cb'.fl(ii1.t; otile~ ra~ooeea.1~:~e ;.U.~J." ;.tore
ti1e .rol1(),iJ:~'1.S~
e~.
:1.nt~od;JCot~ [;:. l'(;r;olut.lon.
o o~':1fl1iS :i11o.n.Gl~
TL'J.c ruot:lon was sooondeu rJY ~o~.rl.UiOO:tOl~OF
.
'ltl.'1;J motion CA..""TyirJg If:i.tb 1.t tIle t1dopt.lon 0":" t.,;.c I'e:Jolu-
tion pretn::.:i.ledby tl'1o following VQto:
A~:ZC: COIW$31one:;:'s ~___, ~. l
NU~:;U ; lQ01D:;.
fl'Ilt.') reaolution is un i"ollcw$ C
.lipSOUJTI061
CP.J~ VliSSING ImJl1UR'NS AIiD DECWiINO THE IilIDULT 01/ ,{~i~ l::IlE:C-
4;:'I0( 1IEx..n Or-IN:':: 0.0'l3.l;:)TrON o:? '!'l!E If;SVA1JC:C: O:~:,' n:~:""\'~1.:tm
BOJitOS--QJ:1 SAID CI1"'i 1:1\7 'l!itE Al~(.rlml' OX.' ~:-200,(KO.OO.. ~~Ol~
~;.:~ PUR?OO:e Oi-' CO~!5TRUGTn:G }~~~ifU:ON~. iiI.;.)) 1;"l ?:tKj\~.:J'i!;'Jl.rJ
TO '1'D W'A~fOf'~. fJ1tS'ljj;L!ll 01; ::J\.W C11''%; AlfD 0:1 'rlIE
r).,tT.!'~"'IO~'f "-:7< 1'I'i'I!Y'M I(l:i~'1'1Al'{I'.E ~ tl-3"O OO() 0"\ t"'E"''lt''C'''l1~~J'1:)T,,",t'>,
~lJJ~...1... .( V"I -J';~ 4...~1~.~ \.I \I"J-.~ ~ ~ ......~. .'i.;~...;...... ~ .. ..a4t.."6
JrOH T1f'B PURPOSE OF CONSTRUCTJllG EJ(l('J,;;NSIONS AIID J:P1PRJ\IE-
..1T:,i,i....':l v,~O T'im 5:r:1,t~ rr.'%ST'Oi 0' fl./'; ID ~:r:1:i; ~~!,l; prarL:::l~v
TllE REVElmBS OF THE W'A~ORlt..q SYS'!'Je:!4 1~1ID 'i"HE 8:bWER
.3YST:ffi.l T'J 't".dE p.r~l1.11::rtr ~lrE..t..'BQli'.
'\W:UClll~S, on tho 4'n.t:. (.llrr:l or l~eb!arU!l.~",jI 19ltS, f;hc-i (;.i.t~{ '~O';i"
.
~:tiGsian f~d.olotte(! ~ l)Qsol'utlou ~d orao-l" ca;~l!nc !m elootlQ,D to
ioe held :tr.l. tho City 01 U~ rorte, TeJinGD Oil the 21~..t (in;; or
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Fe111't1al'i1 j 1948, on the f(.}l.:..{)t~~.ne :-,rtlpt:m:i..t1ons:
~~~~,"'~-~'",n Ii1'....""~,l' t:'i') 1
J!.la.V~~\.I!:'~i.'~TI ·
~~t::.l.ll tho 'Dit;y' C(,.t:!i11o$~..on of' the City 01" I.1i} p.ol1ie, T~roD.
bo autilc~;l.::'CU to issuo 0200: 000 .00 noven~~.O Dond~ {)f I)~::'d Cl't~,...
rm;:.t~ll1.e; ';cl~:.!:\.lly !:II) otho:&:vrloe OVO:!' 0. 'Qur1oC. ;,f ~(\'),!\I 1:10::; to
e:~:~~>cd .t~.;.l;~It:y (:0) yn~'fn f'Fom tbo~tr dr.,te, 'bsz,IJ:i.ng :1.~-:.tc;~(i:V~t 0,1; g
Jr.;:to ,not tCt C!'Jto~rnJ 1":1'110 (5%) :t'16:r- Q€i..'1.t per ~1.. !tor: tho P'ilrl1OCO
0.1:' qOMt::'1.~('t1nt~ cxtenf.ticms and inpl'ove;nents to th$ i,f1.\tozvorlrs
eyotf;)"t) of' 11E'.ic1 01 ty z t..nd to provide to'F the p.::g; ~Gt:.!i ~;t: tho p~.in-
e'3.~:r. of !;~7.~ 1ntE.\1'E>r\t on eu~h bor.:.ds ~olely ~y plc::::lg:i:'?: tho Zll.Ct
re-Jcnue~ (1eJll~W'o(\ .from the opor-at1 Ott. of' sejd 1~C.tC1::'lor!{'g Sycte:~$
()~t~ ~:.n thli eV~hi; tllSt tiH~ (;;1 ty ';vlluI11::6E:i~ b~ D,t1th(j~iiCd to isou~
Scrwel' ~~~f!,tou itcvenuu Eo!a1n C.g OVbjjl1.tt~d in PIJO:PClllt:l.oc;. L.~'o. 2" to
i;mt.iO ct~onb;~.uea ~!t!.'tCl'\1'~:1.,;kf: c.nd Htil:'l!1I' Eyntr:r.~ !i~V0~':I~;,C !:';::md~ in the
~ .:~it!f"~!! 1 tlfltm.nt oS f.! 500 II 000. 00, t,tl~ t." iil~'i4";.e $" 1c l.:it l.u.~ nc'~
X::~~"J('?n;'4l.0E ni. tl;.<.~ {,0'r-!,h1n€t'1 Ut;tc17d'f:i!ll:s (',!\r1 ~l~~e:" 3,,~ ~(1;-~>. to t~JO
r':1~,:::"G~tl; ':~' "~h.o !~r:tne~..!,r:'.l of c~f1. .1.M~r(lst .0::1. ~Q.~i' iJOL~~~~ncc. \;a.tor-
v~:.-.!x ~.r;j ~ !'Je~er By~:ltOi!l l1a'\'onUCll Bona~.
.f1:~.Qr.~~,gm.Jj~.~-
f~;:'lt::ll ~'h.('l C~.l.t~ Cm."1.""':ti.~!3iQn of the Cit;\" of 7.il }crte, TOJw.~~ ~
'tin ~utho',~~.~Cl~ to j.on1J.(~ fX)ODj1000..0C ~(;.\\;'en\tr) l'lo!'.fb ~f' ~ci'l1 :}ity,
:j~;t;:.tu~in!~ !;e~"i~.l1;yo1:' othOl"'.;ie:o ~'Jcr (:. r;Ell"':'cd -:J"l :/0::'.113 ;lot to
c~::oeed ~~ '11.;}tS (30) years ~l"on .tho;1i? &:\to J bEk'1rin~ :'..::1tere:rt ct
t), t:'ate not to O}te(~ad fiVo (5$~} pcr CC!lt pel.' c..U.."ilL1J1 fu:!.) t,hQ J.)lW"'"
p01.)() of ]O:':lotd.~''!lt$.ni3 ,:<:tomioIUl c.nd ~J:np;t\ove:lle!ltct() t!;lO Sor.1C1:
t'll'3 It-elt1 0.:' EJ(t;.u C:l:tnr ~ /,;'lJ1r1 to !)ro\7ld() r~r th~ ~}t~"y'l()!\t or tA~a l'u'in-
c:1.pn,l. of' rm.d,'~....tot'not on nuell 1'OlWS uolel:r 1lypli:::;'~ /n~; tho net
revenueR de~t'i vad 1'!~Ou1 tho oyernt:.ton of t\Bid SOl'l'Cl'O C~731;CIL1D O~ 1~j
tbe eV81:Jt tl-.at t:lE) 0:: ~~~, Cc)mn1m~1on 00 tJ.uthori::cd. 't~':,~ .:3Sr:l.:J ....Yc.taIJ-
,,->rkB nystcm Revenu.e Bond3 au Gul,n:.t'e;rA. in Proposition no. 1. to
lsSU$ 00i11':'~JlEta \rivtel~o~k8 f.\l~d OG\t6r nye1;\1m nOVCFtlC .~~~df1 in the
!T.i.t.itl~ Gmoun'~ or $~nc,on:.l.co" t.:u'l,d to i)ledge solel:;~J tlAo 110t
reVenU6$ 0: tile C()Ul..)~\od 'J&tel:;.Torllf:i snd. Se-J(u,' n:rr.tt~;.l to the yay-
rr;.ent 01) tile :lr$Jlcl.~l or &1i.(! 111teras.t on ee.:ld cO!Jb;;;'ncd t:rc.terwo;:'ks
8l1d Seu0l" Syster:l Revenue Bonde.
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llESOLU'l'IOH
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WHELZ:1AS, the City of La Pol'te has ag~eed with the ttol111lan
Oonstr,ucti')n C~mpany to complete the grading and ahelling of cer-
tain streets to conform to F. H. A. requirements, and
WHE':;EaS. the McMillan Construction Oompany has deposited,
with the Oit1 Clerk, the sum of Six Hundred Dollars ($600.00),
the estimated cost tor complet1ng .uch work,
NOiJ" THEr.tEFORE, BE I'l' RESOLVED by the Boarad of Comt'llssioners
ot tbe City ot La Porte, Texas, that, as soon as practicable, the
City wl11 complete grading and puttlng shell eight (8) lnches
d8eb) and twenty (20) feet.. wlde on Seventh Avenue from South D
Street to South E Street nnd on Eigbth and Nineth ~venues trom
South C to South E St~eets in accordance with the oontraot with
the McMlllan Construction Co~pany and,
BE IT FURTHER R1J:SOLVl1."'D that the lettett add1"essed to the
~oMl11an ConstrUction CompanJ, 7940 Ral'rlabuttg Blvd., Houston, -
~exa8, dated Mar-ch 18, 1948, by Raleigh Erwln, SHperintendent of
Public W~rk., be in all thiJIgs ratified and, confirmed, and it 1s
S!). oroe!'sd; f
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Thls 1. to certlty that the above and foregoing 1s a tttue
and oorreot copy of a I'e801ution passed by the Board of CommiS8loneI's
of the City'ot La Porte, Texas at their meetlng held on Much 23,
1948, to certity which w1tness my hand and seal or off1ce this the
231'd day ot March; 1948.
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THE STATE OF TEXAS
COUNTY OF HARRIS
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On t.his the
30th
day of
March
, 1948, the
City Conu:Jisslon of the City of Ia Porte, Texas, convened in
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S12eo::'o.l session at the regular meeting place, with the
following members thereof, to 't-Ti t :
H. J. Pfeiffer , Mayor
Jas. S. CrateD Jr. , Commissioner
Jo.s. E. Stewo.rt , Commissioner
J. E. Muldoon , City Clerk,
present, and the following absent: None ,
constituting a quorum, when, among other proceedings had, were
the following:
Commissioner
Ste\70.rt
introduced a resolution
and moved its adoption. The motion was seconded by Commissioner
Crate
The motion carrying with it the adoption of tIle resolution
prevailed by the following vote:
Ayms: Commissioners
Stewurt
,
Crate
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N03:S: NONE.
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The resolution 1s as follows:
\
RESOLUTION
AUTHORIZING THE MAYOR AND CITY TREASURER TO ISSUE A
CRECK TO ERNEST L. BROWN, JR., IN PAYMENT OF CONTRACT.
\~REAS, the City Commission of the City of La Porte,
Texas, has heretofore entered into a contract vith Ernest L.
Brown, Jr..I_p! Houston, Texas, in connection yj,th the issuance
by saiu City of La Porte of its Waterworks and Seuer System
Revenue Bonds, Series'1948j and
HHEREAS, said Ernest L. Brmm, Jr., has c8.rr:ted out all of
the te1'MS of said contract and is now entitled to the payment
of his fee under said contract;
THEREFORE, BE IT RESOLVED BY THE CITY COMl\USSION OF THE
CITY CF LA PORTE, TEXAS:
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That the Mayor and City Trea.surer of' the City of La. Porte
be, and they are hereby authorized and directed to issue a
check to Ernest L. Brown, Jr., of Houston, Texas, in the amount
of Five Thousand Two Hundred and Fifty ($5,250.00) Dollars,
in payment of his fee under a contract between the City Com-
mission of said City and the said Ernest L. Brown, Jr., for
the furnishing of all necessary' legal proceedings, printed bonds,
and all other necessary services, in connection with the
issuance by seid City of La Porte of its Waterworks and Sewer
System Revenue Bonds, Series 1948.
ADOPTED AND APPROVED, this the 30th
day of
Horoh
1948.
orte, Texas.
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RESOLtrl'10'
WBEHEAS,. an .rt-on.oul s~.y haa hf!tl'etotore been made ot
San Jao into Itom.sAdd1t~on to the Town. of La Porte ,Texas, and
WBEa:s:r..S,in . aoo ol'dance w1 th suoh. 8urvel, the M oU 111an
Oonstruction Com~any. owner of certain lot. in said subdivision,
has conatztucted .. number of dwell1ns8, and
WHERBAS, .the 01ty ot La Port., In accordance with 8uoh
lurve7, baa 1nstalled certain util1t11 lines, and
VniE.~S, .aldaubdlv1aion hat b.en ~e-.urv81.d b1 the
CdUJltl Surve101' ot Har~18 CoUnt,., Texas, A. C. St1cnson, on Karoh
31, 1948, whi0h .urV$1 the C1t7 ot La PQrte and the Jilc).il11an Oon-
atpuotlonOQmpan1 agree 1. oo~rect, and
WHERE&B, it. 18 to the nlutut11 benetit of the 01ty or La
Porte and the lioMl11an . Construction Oompnnl to exahange deeds to
establish street. am! alle,. line. and. building linea to oontOIim
~o thos. wh10h haVe he~Gtoro.~e been aotual17 established on the
ground in said Addition,
BOW, Tili~O'FUl:, BE I~ R3S0LVED by the Board ot Comltlla-
,loners of the Oity or: La Porte, Texas, that the 01t7 of La Porte
convay pans of ce.rtaiu streets in said Ban Jacinto lIomes Addi-
tion to the Town of La Porte to the MoMlllan Construotion Oompany,
I.
. Tex9.aeorporatl'on and tbat tlle Malott and. Clerk or the City ot
La Porte be. and they are he~ebl, instruoted to ex.eut.'~nd 4e-
liver' said deaed to tho said McMillan CmuJtruct10n Co'"npany, and
it is ao ordered.
CERTI:c'LCATE
. The above and t~r.golng 18 a true and oorreot 80PY of
a Re.olution passed b1 the Board of Oommissloners ot the City ot
La Porte, Texas, at ita meeting held on the ~ day ot April,
A. D. 1948, 9.9 the same appeal"ed of recol"d in the lit lnute Book
of said.Ottl, to certify whiGh witness m1 hand and seal of of-
fice this, the I J' da1 of April,