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HomeMy WebLinkAboutO-1965-718 ,4 ./' .~. ~.... ...........~-, el- . . -'\. ' .......... . 'I~' ", " "/.. .,' . e CERTIFICATE FOR BOND ORDINANCE ~ THE STATE OF TEXAS ' : ' COUNTY OF HARRIS CITY OF LA PORTE ' We, the undersigned officers of said City, hereby,certify as follows: l. The City Commission of said City convened in MEETING ON THE DAY OF JULY, 1965, 'at the 'City Hall, and the roll was called of the duly constituted officers and members of said City Commission, to-wit: Mrs. Marilyn Kelley, City Clerk Frank G. Baker Tom W. Osburn Harold P. Pfeiffer, Russell Shepherd W. }.. -a'tabs, .H:o Mayor and all of said persons were present, except the following absentees: ~. ~~ J~.Li::), i?i' ' , thus constituting a quorum. Wh eupon, among other business, the fOl~ng was transacted at said Meeting: a written ORDINANCE AUTHORIZING THE ISSUANCE OF BONDS was duly int~duced for the consideration of said City Commission and read in full. It was then duly moved and seconded that said Ordinance be passed; and, after due dis'cussion,,--said motion, carrying ,with .it the passage of saift-Grd~, prevailed and carried by the following vote: ~ AYES: All members of said City Commission shown present above voted "Aye." , NOES: None.' 2. That a true, full, and correct copy of the aforesaid Ordinance passed at the Meeting described in the above and fore-, going paragraph is ,attached to and follows this Certificate; that said Ordinance has been duly recorded in said City 'Commission" s minutes of said Meeting; that the above and foregoing paragraph is a true, full, and correct excerpt from said City CommissiQn's minutes of said Meeting pertaining to the passage of said Ordi- nance; that the persons named in the above and ,foregoing para- graph are the duly chosen, qualified, and acting officers and members of said City Commission ,as indicated therein; and that each of the officers and members of said City Commission was duly and sufficiently notified officially and personally, in advance, 'of the time ,'place, and purpose of the aforesaid Meeting, and that said Ordinance would be introduced and considered for passage at said Meeting, and each of said officers and members consented, in advance, to the holding of said Meeting for such purpose. 3. That the Mayor of said City has approved, and hereby approves, the aforesaid Ordinance; that the Mayor and the City Clerk of said City have duly signed said Ordinance; and that the Maypr and the City Clerk of said City hereby declare that their signing of this Certificate shall constitute the signing of the .- ~,..attached and following copy of said Ordinance for all purposes. ~4:/> ~ S IGNEDAND SEALED the ____day of July, 1965. '., f, ',7~ ~j, . '. ~"'fl;.#:~) '" ~f)~h / . <,,~f .- City C erk v .~, ~ J 'l""' :(SEAL) -, e e ORDINANCE AUTHORIZING THE ISSUANCE OF TAX BONDS . THE STATE OF TEXAS COUNTY OF HARRIS CITY OF LA PORTE WHEREAS, the bonds hereinafter' authorized were duly and favorably voted, as required by the Constitution and laws of the ... State of Texas, at an election held in said City on the 27th day of April, 1965; and WHEREAS, the bonds hereinafter authorized are to be issued and delivered pursuant to the Charter of said City and the general laws of the State of Texas. BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF LA PORTE: , Section l. That said City's coupon bonds to be designated . the "City of La Porte General Obligation Bonds, Series 1965," are hereby auth~rized to be issued and delivered in accordance with the Constitution and laws of the State of Texas in the principal amount of $505,000 for the purpose of providing $400,000 for the improvement of the streets of said City; $5,000 for the construction of additions and improvements to the jail building in said City; $75,000 for the construction of a public building to be used as a community building; and $25,000 for the construction of a public library in said City. . Section 2. That said bonds shall be dated Augustl, 1965, shall be numbered consecutively from 1 through lOl, shall 'be in the denomination of $5,000 each, and shall mature and become due and payable serially on February 1 in each of the years, and in the amounts, respectively, as set forth in the following schedule: "" ,( . . 'e YEARS AMOUNTS YEARS AMOUNTS .' 1968 $ 5,000 1978 $25,000 1969 10,000 1979 25,000 1970 lO,OOO 1980 30,000 1971 lO,OOO 1981, ' 30,000 1972 15,000 1982 40,000 1973 l5,000 198~ 50,000 1974 20,000 1984 50,000 1975 20,000 1985 50,OQO 1976 25,000 1986 50,000 1977 25,000 Section 3. That said bonds shall bear interest from their date until maturity at the following rates: all bonds scheduled to mature during the years 1968 through "72. ------------------- s-: 00% per annum; '.' .. all bonds scheduled to ma ture during the years '73 through 77 ----------------~-- ~ 'l r % per annum; all bonds scheduled to mature during the years ?g through g# ------------------- s.lo % per annum; all bonds scheduled to mature during the years &'J through fl' ------------------- .~. 7[) % per annum; years ~-- ...............-. ~ ~, \ with said interest to be evidenced by interest coupons payable on February l, 1966, and semi-annually thereafter on each August 1 and February l. Section 4. That the principal of and interest on said . bonds shall be payable to bearer, in lawful money of the United States of America, without exchange or collection charges to the bearer, upon presentation and surrender of proper bond or interest coupon, at the Houston National Bank, Houston, Texas,. or, at the option of the bearer, at the, Bayshore National Bank, La Porte, Texas, which places shall be the paying agents for ,/ , sa id bonds. t . . '. '... Section 5. That each of said bonds and interest coupons shall be signed by the imprinted or lithographed facsimile signature of the Mayor, of said City and counter- signed by the imprinted or lithographed facsimile signature of the City Clerk of said City,' and the official seal of said City shall be impressed, or printed, or lithographed on each of said bonds. Section 6. That the form of said bonds, including the form of Registration Certificate of the Comptroller of Public Accounts of the State of Texas to be printed and . endorsed on each bond, and the form of the interest coupons to be attached to said bonds, shall be, respectively, substanti- ally as follows: (FORM OF BOND) NO. $5,000 UNITED STATES OF AMERICA STATE OF TEXAS COUNTY OF HARRIS CITY OF LA PORTE GENERAL OBLIGATION BOND SERIES 1965 On February 1, 19__, the City of La Porte, in the County of Harris, State of Texas, promises to pay to bearer the principal amount of .' FIVE THOUSAND DOLLARS and to pay interest thereon, from the date hereof, at the rate of % per annum, evidenced by interest coupons payable February 1, 1966, and semi-annually thereafter on each August 1 and February 1 while this bond is outstanding. The principal of this bond and the interest coupons attached hereto shall be payable to bearer, in lawful money of the United States of America, without exchange or collection charges to the bearer, upon presentation and surrender 'of this bond or proper interest coupon, at the Houston National Bank, Houston, Texas, or, at the option of the bearer, at the Bayshore National Bank, La Porte, Texas, which places shall be the paying agents for this Series of bonds. , . e .- '.... This Bond is one of a Series of coupon bonds dated August l, 1965, issued in the principal amount of $505,000 for the purpose of providing $400,000 for the improvement of the streets of said City; $5,000 for the construction of additions and improvements to the jail building in said City; $75,000 for the construc- tion of a public building t~ be used as a community building; and $25,000 for the construction of a public library in said City. ~ ," It is hereby certified and recited that this bond has been duly and vali4ly voted, authorized, issued, and delivered in accordance with the Constitution and laws of the State of Texas; that this bond is a general obligation of said City, issued on the full faith and credit thereof; and that the ,ad valorem taxes, upon all taxable property in said City, necessary to pay the interest on and principal of this bond, as such interest comes due, and such principal matures, have been pledged irrevocably for such purpose, within the limit prescribed , by law. . In wttnesswhereof, this bond and the interest coupons attached hereto have been signed by the imprinted or lithographed facsimile signature of the Mayor of said City and countersigned by the imprinted or lithographed facsimile signature of the City Clerk of said City, and the official seal of said City has been duly impressed, or printed, or lithographed on this bond. ' City Clerk, City of La Porte Mayor, City of La Porte (RORM OF REGISTRATION CERTIFICATE) COMPTROLLER'S REGISTRATION CERTIFICATE: REGISTER NO. . I hereby certify that this bond has been examined, certified as to validity, and approved by the Attorney General of the State of Texas; and that this bond has been register~d by the Comptroller of Public Accounts of the State of Texas. Witness my signature and seal this .Comptroller of Public Accounts of the State of Texas , , . .~, . . , e . . (FORM OF INTEREST COUPON) NO. - $ On , 19___, the City of La Porte, in the County of Harris, State of Texas, promises to pay to bearer, the amount of Dollars, in lawful money of the United States of America, without exchange or collection charges to the bearer, upon presentation and surrender of this interest coupon, at the Houston National Bank, Houston, Texas, or at the option of the bearer, at the Bayshore National Bank, La Porte, Texas, said amount being interest due that day on the bond, bearing the number hereinafter designated, of that issue of City of La Porte General Obligation Bonds, Series 1965, dated August 1, 1965. Bond No. City Clerk Mayor Section 7. That a special fund or account, to be designated the "City of La Porte General Obligation Bonds, Series 1965, Interest and Sinking Fund" is hereby created and shall be established and maintained by said City at its official depository bank. Said Interest and Sinking Fund shall be kept separate and apart from all other funds and accounts of said City; and shall be used only for paying the interest on and principal of said bonds. All taxes levied and collected for and on account of said b9nds shall be deposited, as collected, to the credit of said Interest and Sinking Fund. During each year while any of said bonds or interest coupons appertaining thereto are outstanding and unpaid, the City Commission of said City shall compu~e and ascertain the rate and amount of ad valorem tax, based on the latest approved tax rolls of said City, with full allowances being made for tax delinquencies and costs of tax collections, which will be sufficient to raise and produce the money required to pay the interest on said bonds as such interest 'comes due, and to provide a sinking fund to - . e' e . ~ ' pay the principal ,of such bonds, as such principal matures, ' , but never less than 2% of the original principal amount of ) said bonds as a sinking fund each year. Said rate and amount of ad valorem tax is hereby ord~red to be levied and is hereby \ levied against all taxable property in said City for each year while any of said bonds or interest coupons appertaining thereto are outstanding and unpaid, and said ad valorem tax shall be assessed and collected each such year and deposited to the credit of the aforesaid Interest and Sinking Fund. Said ad valorem . taxes necessary to pay the interest on and principal of said bonds, as such interest comes due, and such principal matures, are hereby ple'dged irrevocably for such purpose, within the limit prescribed by law. Section 8. That the Mayor of said City is hereby authorized to have control of said bonds and all necessary records and proceedings pertaining to said bonds pending their delivery and their investigation, examination, and approval by the Attorney General of the State of Texas, and their registration by the Comptroller of Public Accounts of the State . of Texas. Upon registration of said bonds, said Comptroller , of Public Accounts (or a deputy designated in writing to act for said Comptroller) shall manually sign the Comptroller's Registration Certificate prescribed herein to be printed ~nd endorsed on each bond, and the seal of said Comptroller shall be impressed, or printed, or lithographed on each of said bonds. ~ .. ." . i" ::.. - e '" Section 9. That said bonds are hereby sold and .. shall be delivered in accordan,ce with law to If' (/) wLi:S, I1/; ~ t;. -I'D jI/ c& f'.o. H () v, -f~ ,ll/rsX,.for the principal amount I thereof and accrued interest to the date of delivery, plus a premium of $ -0 Section lO. That the probable period of usefulness for the public improvements to be made with the proceeds from the sale of. said bonds will be many years. PASSED AND AUTHENTICATED this the _day of July, 1965. . ATTEST: ~~ ..h-"-"et'-"") . ~ !"~}'" City erk . I"