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HomeMy WebLinkAboutO-1965-730 '~ . I ' . II ',1 J" . ... . . . ,",' "\, .,.~- ,/ ..: . , CERTIFICArE 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: 1. The City Commission of said City convened in MEETING ON THE 3RD DAY OF JANUARY, 1966, at the City Hall, and the roll was called of the duly constituted officers and members of said City Commission, to-wit: Harold P. Pfeiffer, Mayor Lois J,.' Compton Russell,Sheph~rd Tom W. Osburn W. A. Stabs, Jr. Mrs. Marilyn Kelley, City Cler and all of said "'persons were present, except the following absentees: " ~ _ ..J , thus constituting, a quorum., Wqereupon, among other business, the following was transacted at said Meeting: a written ORDINANCE AUTHORIZING THE ISSUANCE OF BONDS was duly introduced for the consideration of said City Commissi and read in full. It was then duly moved and seconded that sai Ordinance be passed; and, after due discussion, said motion, carrying;witq it the passage of'said Ordinance, prevailed and carried by the following vote: AYES: 'All members of said City Commission shown present above voted "Aye." NOES: None. 2. Tpat a true, full and correct copy of the aforesai Ordinance passed at the Meeting described in the above and fore- going paragraph is attached to and follows this Certificate; tha said Drdina~ce has been, duly recorded in said City Commission's minutes of said Mee~ing; that the above and foregoing paragraph is a ttue, full, and correct excerpt from said City Commission's 'minutes of said Meeting pertaining to the passage of said O~di- nance; that t~e persons named in the above and foregc~ng 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 dul and sufficiently notlfied 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 passa e at said Meeting, and each of said officers and members consented in advance ,to the hold~~g of said Meeting for such purpose.' '1 3. That the Mayor of said City has approved, and here y approves, the aforesaid Ordinance; 'that the Mayor and the City Clerk of said 9ity have duly signed said Ordinance; and that the Mayor and t~e City Clerk of said City hereby declare that their ~.signing of this Certificate shall constitute the signing of the ~ttached and following copy of said Ordinance for all purposes. '/;' ;~. ..t7~ ;<:1J~/9~~ SIGNED AND SEALED the 3re day of January, 1966--. , , ~,~~. ~~~:ere....2; ~("'y ~ City C erk t. . .. :. . . .- .. . ORDINANCE AUTHORIZING THE ISSUANCE OF REVENUE BONDS THE S TA TE OF TEXAS. COUNTY OE 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 Vernon's Article 1269j-5. BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF LA PORTE: Section 1. That said City's negotiable coupons bonds to be designated the :"City of La Porte Airport Revenue Bonds,. Series 1965," are hereby authorized to be issued and delivered in accordance with the Constitution and laws of the State of Texas in the principal amount of $60,000 for the purpose of enlarging, improving and equipping the City's airport. Section 4. That said bonds shall be dated ~December 5, ---..., 1965" shall be numbered-1 through 60, shall be in the denomina- tion of $1,09.0 eac:h; and shall mature and become due and payab1 serially on, ,January 15 in each of the years, and in the amounts, respectively, a$ s~t forth in the following sch~du1e: YEARS YEARS AMOUNTS AMOUNTS 1970 . .... 1971 1972 1973 1974 1975 197.6 $3,000 3,000 3,000 3,000 3 ,.000 4,000 4,000 $4,000 4,000 4,000 5,000 5,000 5,000 5,000 5,000 1977 1978 1979 1980 1981 1982 1983 1984 Section 3. That as to said bonds scheduled to mature 0 and after. J~nuary 15., 1977, said City shall have the right and optio~ to redeem. such bonds prior to their scheduled maturitie , . ,.. . . in whole, 'or in part, on January 15, 1976, or on any interest payment date thereafter, for the principal amount thereof . plus accrued inte~est to the date fixed for redemption. At least .thirty days before the date fixed for any such redemption, the City shall cause a written notice of such redemption to be published at least once in a financial publica- tion published ~n the City of New York, New York. By the date fixed for any such redemption, due provision shall be made with the paying agent" for the payment of the principal amount, of the bonds to be so redeemed, plus accrued interest thereon to the . dated fixed fo~ re~emption. If the written notice of redemptio is published, 'and if due provision for payment is made, all as provided qbove, the bonds, which are to be so redeemed, thereby automatically shall be rede~med,prior to maturity, and they shall not bear interest aft~r the date fixed for redemption, and shall not be regarded a"s being outstanding except for the purpose of receiving th~ funds so provided fo~ such payment. Section 4.' That said bonds shall bear interest from their date, until'maturity or redemption, at the rate of 4~% per annum, with ,said interest to be evidenced by interest . ,~oupons payable on July 15, 1966, and semi-annually thereafter on each Januar~ 15 and July 15. -- - Section 5. ,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 presentatipn and surrender of proper bond or ." ~' interest coupon, at 'Bayshore National Bank, La Porte, Texas, . . which place shall be the paying agent for said bonds. Section'6. That each of said bonds and interest coupons shall be signed by the imprinted or lithographed fac- .'. simile signa~~re of the Mayor of said City and countersigned .. . by the imprinted or lithographed facsimile signature of the City Clerk of ~a1d'City, and the official seal of said City shall be . i~pressed, or printed, or lithographed on each of said bonds. Sect~on 7. That the form of said bonds, including the form of Regis~ration 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 attache to said.bonds, shall be, respectively, substantially as follows: ,(FORM OF BOND) NO. $1,000 . UNITED STATES OF AMERICA STATE OF TEXAS COUNTY OF HARRIS CITY OF LA PORTE AIRPORT REVENUE BOND SERIES 1965 On January 15, 19__, the City of La Porte, in the ~: County of Harris, State of Texas, promises to pay to bearer the principal amount of ONE THOUSAND DOLLARS and to pay interest thereon, from the date hereof, at the rate of 4~% per annum, evidenced by interest coupons payable July 15, 1966, and semi-annually thereafter on each January 15 and July 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 exchang or collection charges to the bearer, upon presentation and I surrender of ~hi~ bond or proper interest coupon, at Bayshore National Bank, "La Porte, Texas, which place shall be the paying agent for this Ser,ies of bonds. This bond is one of 'a Series of ~egotiable coupon bonds . dated Decemb~t 15,1965;, issued in the principal amount of $60,000 fo~ the purpose of enlarging, imp~oving and equipping the City's airport. '!' .. . e , The bonds of this Series scheduled to mature on and after January 15, 1977, may be redeemed prior to their scheduled . maturities, ,in whole, 'or in part, at the option of said City, on January 15, 1976, or on any interest payment date thereafter, '. for the prin~~pal a~ount thereof plus accrued interest to the date fixed for redemption. At least thirty days before the date fixed for any stic~.redemption the City shall cause a written . , notice of such'redemption to be published at least once in a financial publication published in the City of New York, New York. By the 'date, fixed for any such redemption, due provision shall be made with the paying. agent for the payment of the principal amount of the bonds to be redeemed, plus accrued . interest thereon to the date fixed for redemption. If the written notice of redemption is published, and if due provision for such payment is made, all as provided above, the bonds, which are to be so redeemed, thereby automatically shall be redeemed 'prior 'to maturity, and they shall not bear interest funds so provided for such payment. It is hereby certified and recited that this bond has . been duly and, validly authori~e?, issued, and delivered in accordance with the Constitution and laws of the State of Texas including Acts 19~7, 50th Legislature, Chapter 114; and that the interest on and ~rincipal of this bond, and the Series of which 't is a part, are secured by and payable from a first lien on and pledge 'of the Net Revenues of said City's Airport. Said City has reserved the right, subjec~ to the restrictions stated in the Ordinance authorizing this Series of bonds, to issue additional parity revenue bonds which also . may be secured by 'and made payable from a first lien on and pledge of the Net Revenues of said City's Airport. , . .' . " . The holder hereof shall never have the right to . 'demand payment of ,this obligation out of any funds raised or to be raised by taxation. In witness whereof, this bond and the interest coupons attached hereto have been signe~ by the imprinted or lithographed facsimile signature of the Mayor of said City and countersigned by t~~ imprinted or lithographed facsimile signa-\ ture of the City Clerk of said City, and the official seal of said City has been d~ly impressed, or printed, or lithographed on this'bond. m ......-.J. ~,., />';/Y-')..' ~JI.b.lr-' ity Clerk, City of La Port . (FORM 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 registered by the ComptJ:'oller. of Public Accounts of the State of Texas. Witness my signature and seal this On Comptroller of Public Accounts of the State of Texas (FORM OF INTEREST COUPON) $ , 19_, the City of La Porte, in the . NO. County of Harris, State of Texas, promises to pay to bearer, unless due provision has been made for the redemption prior to maturity of the bond to which this interest coupon is attached, the amount ,of Dollars, in lawful money of the United Sta~es of America, without exchange or collection charge to the bea'rer, upon presentation and surrender of this interest '. coupon, at the Bayshore National Bank, La Porte, Texas, said . . . <~. -- .,- .' . . . amount being interest due that day on the bond, bearing the number hereinaft,er designated, of that issue of City of La Porte Airport, Revenue Bonds, Series 1965, dated December 15, 1965. The holder hereof shall never have the right to demand payment of this obligation out of any funds raised or to be raised by taxation. Bond No. ~, C ~J_d. >CU;C{~k}~//I~ )/nrP~f~ "J'" . " '~, Section 8. DEFINITIONS. (a)- The term "Airport" " ..r. .......-. used in 'O'rdinance, shall the City's .~as this mean entire r, ...... (" ';.. ....,. .,:\' Airport and'all facilities pertaining thereto, together with all future improvemerits, extensions, enlargements, and addi- tions thereto', and' replacements thereof. (b) 'The, t'erm "Gross Revenues" shall mean the total revenues to the City from the Airport and its operations from whatever, source oerived. Without limiting the generality of the foregoing, unless especially delimited, "Gross Revenues" will include ~l,l,of".the income to the City from the ownership and operation of , the Airport, including landing fees and charges, ground; rental,. space rentals in buildings, and charges of 'every'character made to concessionaires. (c) The term "Maintenance and Operation Expenses" shall mean expenditures directly and essentially necessary for the ef~icient and normal maintenance, operation and utiliza tion of ,the Airport, including the keeping of the Airp~rt and all of its facilities in good condition and the making of all needed repairs, renewals and replacements, including non-recurr ng .', ." ",. . . and periodi~ items of maintenance. It is also provided that the items which the City has agreed to provide from its General Fund Revenues, as provided in this Ordinance, shall not constitute items of Maintenance. and Operation Expenses. (d) The term "Net Revenues" shall mean the amount remaining after 'deducting the Maintenance and Operation Expenses from the Gross Revenues. (e) .The term "Bonds" shall mean the Bonds authorized I to be issued and d~livered by this Ordinance. ,(f) The .term "Additional Bonds" shall mean the addi- tional parity revenue bonds which the City reserves the right to issue and deliver in the future, as provided by this Ordinance. Section 9. PLEDGE. The Bonds and all Additional Bonds, and the interest thereon, are and shall be payable from and secured by an,irrevocable first lien on and pledge of the N t Revenues of the Airport, and said Net Revenues are further pledged irrevocably to the establishment and maintenance of the . Funds hereina:i;ter created. Section 10. RATES. The City covenants qnd agrees with the holders of the Bpnds and all Additional Bonds, as follows: .(a) That it will 'at all times fix, maintain, enforce, charge, and collect for services rendered by the Airport, rates, charges, and amounts which will produce Gross Revenues at least sufficient to pay all Operation and Maintenance Expenses, and t provide Net Revenues a~equate to pay promptly all of the princi . pal of and intere~t:on the Bonds and' all Additional Bonds, and make all deposit's ,n<;>w or hereafter required to be made into the Funds created a~d' established, by. thi~ Ordinance. '" e (b),' If the Airport should become legally liable for any other obligations "or indebtedness, the City shall fix, main- .' tain, enforce, ch~rge and collect additional rates, charges and amounts for services rendered, by the Airport sufficient to establish and maintain funds for the payment thereof. .Section 11. FUNDS. All revenues of the Airport shall be kept' separate anci:""apart from all other funds of the City, and the following spe~ial Funds are hereby created and shall be established and :mainta~ned in an official depository bank of the City, so long'as:any of the Bonds or Additional Bonds, or . interest thereon, a!~ outstanding and unpaid: (a)' City' qf 'La Porte Airport . Fund, hereinafter called the ."Revenue Fund;" (b) City of La Porte..Airport Revenue Bonds Interest and Sinking Fmid, hereinafter called the "Interest and Sinking Fund'" , (c) ,Gity of La Porte Airport Revenue Bonds Reserve Fund, hereina:f;ter called the "Reserve Fund." Section 12. REVENUE FUND. All Gross Revenues of every nature received by the City from the operation and owner- ,. , ship of the. Airport shall be deposited from day to day as col- . lected into the Revenue Fund, and the Maintenance and Operation Expenses of the Airport shall be paid from the Revenue Fund. The revenues of the Airport not ~ctually required to pay said expenses shall be deposited from the Revenue Fund into the other Funds created by this Ordinance, in the manner and amounts here- inafter proviqed, and each of such Funds shall have priority as to such deposits in the order in which they are treated in the follow~ng' secti~ns. Section 13. INTEREST AND SINKING FUND. There shall . be depositeq into the Interest and Sinking Fund the following: .' . (a) such amounts, in equal monthly installments, . made on, or before the 10th day of each month hereafter, as will be sufficient to pay the interest scheduled to come due .on the,Sonds on the next interest payment date; and (b) such amounts, in equal monthly installments, made on or before January 10, 1969, and on, or before the 10th da of each month thereafter as will be sufficient to pay the next maturing p~,incipa1 of the Bonds. The Interest and ,Sinking Fund shall be used to pay the principal ...'.- ~ of and interest ,on the Bonds and all Additional Bonds, as such principal matures" 'and such interest comes due. Section 14. RESERVE FUND. On or before the 10th day of each month hereafter, there shall be deposited into the Re.- serve Fund the'sum of at least $ 500.00, , until the Reserve Fund sha~l contain an aggregate amount of $ 6,000.00. No deposits shall be required to be made into the Reserve Fund as long as the Reserve Fund contains said aggregate amount, but if and whenever said Reserve Fund. is reduced below said aggregate amount, the aforesaid monthly deposits into the Reserve Fund . shall be resumed and continued until such time as the Reserve Fund has been restored to said aggregate amount. The Reserve Fund shall be us.ed to pay the principal of or interest on the Bonds and all' ,Additional Bonds, at any time when there is not sufficient mon~y available in the Interest and Sinking Fund for such purpose. Money in the Reserve Fund may, upon authorizatio by the City Commission, be invested in direct obligations of, 0 . obligations, the principal of and interest on which are guarant by, the United States of America, or invested in direct ob1iga- . tions of the Federal Intermediate Credit Ba~ks, Federal Land Banks, Federal National Mortgage Association, Federal Home Loan Banks or Banks for Cooperatives, provided that each of the . e aforesaid' obligations.must mature, or be subject to redemption at the option of ~he ,'holder thereof, within not more than ten . years from the d~te of the making' of such investment. Any obligat'ion in which mon~y in the Reserve Fund is so invested li shall be kept and held in an official depository bank of the City in escrow. and in trust for the benefit of the holders of the Bonqs and all 'Additional Bonds, and shall be promptly sold and the proceeds of sale applied to the making of all payments required to be made' from the Reserve Fund. Section ,15. DEFICIENCIES IN FUNDS. If in any month the City shall fail .to deposit into any Fund created by this . Ordinance the ful~ amounts required, amounts equivalent S9 such deficiencies shall be set apart and paid into said Funds from . I', the first available and unallocated Net Revenues of the Airport for the follo~ing m,onth or months, 'and such payments shall be in addition to the ,amounts otherwise required to be paid into said Funds during s~ch'month or months. To the extent necessary, the City shall increase the rates, charges, arid amounts for services of the Airport to make'up for any such deficiencies. Section 16. EXCESS REVENUES. Money remaining in the . Revenue Fund. at the close of each fiscal year of the City, after making adequate provisi~n for the Funds created by this Ordinanc and after taking 'c.ar~ of all other legal obligations, if any, against the Revenue Fund and after retaining therein an amount certified by the Airport Manager as sufficient,to pay estimated Maintenance. and Operation.~xpenses for a period of two months, may be used by the City for any lawful purpose. Section 17. SECURITY FOR FUNDS. All Funds created by this Ordinance shall be secured in the manner and to the . fullest extent permitted or required by law for the security of public funds~' and such Funds shall be. 'used only for the purposes and :In the "inanner permitted or required by this Ordinance. . . '.' . Section 18. ADDITIONAL BONDS. The City reserves the . right to issue additional parity revenue bonds, to be known as Additio~al Bpnds, w~ich when issued and delivered, shall be pay- able from and' sec'ured by a first lien on and pledge of the Net Revenues of th~ Airport, in the same manner and to the same extent as the Bo~d~;: ,and the Bonds and all Additional Bonds shal in all respects be on a parity and of equal dignity. The Addi- tional Bonds ,may be'issued in one or more installments or series , > provided, however, that no installment or series of Additional Bonds shall be issued unless:' . (a). A certificate is executed by the Mayor and City Clerk of said City to the effect that no default exists in 'connection with any of the covenants or requirements of the ordinance or ordinances authorizing the issuance of all then outstanding Bonds and Additional Bonds; (b) A certificate is executed by the Mayor and City Clerk of said City' to the effect that the Interest and Sinking Fund and the Reserve Fund each contains the amount then required to be on deposit therein; (c) ,A certificate is executed by a Certified Public . Accountant to. the effect that, in his opinion, the Net Earnings of the Airport either for the last complete fiscal year of the City, o~ for any twelve consecutive calendar month period ending not more than ninety days prior to the passage of the ordinance authorizing the issuance pf such Additional Bonds, were at least 1-1/2 times .the'average annual principal and interest require- ments for all then ~utstanding Bonds and Additional Bonds, and for the installment or series of Additional Bonds then proposed to be issued; and the term "Net Earnings," as 'used in this sub- . paragraph (c) shall mean the Net Revenues of the, Airport, but excluding and not deducting, any charges or disbursements which under standa~d accounting practice, should be charged to .' e capital expenditures. '(d) The Additional Bonds are scheduled to mature only . on January 15, and the interest thereon is scheduled to be paid only on July 15 and January 15. ,(e) The ordinance authorizing the issuance of such installment or. series of Additional Bonds provides that the , , aggregate amoun~ to' be accumulated and maintained in the Reserve Fund shall be increased by an additional amount not less than t .- average annual.principal and interest requirements for said Addi 'tional Bonds, and that such additional amount shall be so accumulated within sixty-one months from the date of the Addi- . , , tional Bonds, by the deposit in the Reserve Fund of the necessar sums in equal monthly installments; provided, however, that the aggregate amount to ,be accumulated in the Reserve Fund shall never be required to exceed the average annual principal and ~ interest requirements for all then,outstanding bonds and Additional ~onds, and for the installment or series of Addi- tianal Bonds then proposed to be issued. (f), All calculations of average annual principal and . interest req~irements made pursuant to this Section are made as of and from the date of the Additional Bonds then proposed to b~ issued. Section 19. MAINTENANCE AND OPERATION; INSURANCE. While any of the 'Bon,ds or Additional Bonds are outstanding the City covenants and'~grees to maintain, or cause to be maintained, the Airport in good condition and operate, or cause to be opera- ted, the same in an efficient manner and at reasonable expense, and to maintain, or cause to be maintained, insurance on the . .(\irport, for the benefit of the holder or holders of the Bonds ,. and Additional Bonds" of a kind and in an amount which usually , ' would be carried ,by private companies engaged in a similar type ~ , , . , ..,.. e "'" ..e of business. Nothing. in this Ordinance shall be cons trued as . requiring the City. ~o.expend any funds which are derived from sources o,ther than the Airport, (except from its General Fund Revenues', . as provided' in this Ordinance), but nothing herein shall be ~onstrued' as preventing the City from doing so. Section 20. ACCOUNTS AND FISCAL YEAR. The City shall keep prope~ books of records and accounts, separate from all other records 'and accounts of the City, in which complete and correct entries' shall 'be made of all transactions relating to Airport,. and shall have said books audi~ed once each fiscal year by a Certified 'Public Accountant. The City agrees to operate . Airport and keep its books of records and accounts pertaining thereto' on. the basis of its curren~ fiscal year; provided, how- ever, that the' City Commission may change suc~ fiscal ye~r by ordinance duly passed, if such change is deemed necessary by th City Commission. _ Sec.tion 21. ACCOUNTING REPORTS. Within ninety days " after the cl~se 6t each fiscal year hereafter, the City will furnish, without cost,- to any holder of, any outstanding Bonds 0 Additional. Bonds who may so request, a signed or certified copy . of a report .b'y a Ce~tified Public Accountant, covering the next ( preceding fiscal year', showing the ,following information: (a) A det~iled statement of all gross revenues of the Airport and all Maintenance and Oper~tion Expenses thereo~ for said fiscal year; (b) Balance sheet as of the end of said fiscal yea.r; . (c) Accountant's comment regarding the manner in wQich the City. has complied with the requirements of this Ordinance and his recommendations, if any, for any . changes or improvements in the operation of the Airport; (d)', Lfs.'t'of insurance policies in force at the end of said 'ftscal y~ar, showing, as to each policy, the risk .: .. . . covered, the. ',amount of the policy, the name of the insurer, and the expiration date; (e) The 'st:atus of .,each Fund created by this Ordinance. Section 22.,. INSPECTION. Any holder or holders of any Bonds or Additional Bonds shall have the right at all reasonable times to inspect the'Airport and all records, accounts, and data of the City relating thereto. Section 23. SPECIAL COVENANTSo The City further covenants as follows: (a). That' 'other than for the payment of the Bonds herein authorized, the Net Revenues of the Airport have not in any manner.been pledged to the payment of any debt or obligatio of the City or of the Airport. (b) That while any of the Bonds or Additional Bonds are outstanding, the City will not sell or dispose of the Airpo or any substantial part thereof, and that, with the exception 0 the Additional. Bonds expressly permitted by this Ordinance to b issued,. it will not encumber the Net Revenues of the Airport, a defined in this Ordinance. . . (c-) that 'the City will' operate and maintain, or cause to' be operate~ and maintained, the Airport, and will not cause or suffer such curtailment of the general use of the Air- port or provide any other airport or airport facilities else- where which will be operated so as to interfere with the prompt performance of all of the City's obligations and covenants im- posed by or 'undertaken under this Ordinance; and that the incom from any investment in other Airport properties by the City will immediately be subjected to the lien and pledge securing the Bonds and Ad4itiQn~1 Bonds. . . . , , . ". . . " '. . (d)' That the City will duly observe and comply with all valid requirem~n~s of all Federal and State Authorities relative to the maintenance and operation of the Airport. (e). ,That the City will not supply at the Airport space, services' or privileges, without making commensurate char&es therefor, except to the extent actually required and shown to be requi~ed under applicable statutes to supply such space, privileges and services to the Federal government. (f.) . That the City will not sell or dispose of any part of the Airport unless and until such property has been declared by the City Commission to be surplus and no longer needed ,for the proper operation of the Airport, and unless a qualifi~d firm of airport consultants certifies in writing that the properties to be sold are n9t need~d for proper operation of the Airport and will not materially reduce the Gross Revenue of the Airport. The proceeds from the sale of such facilities shall be deposited .in the Revenue Fund. Section 24. BONDS ARE SPECIAL OBLIGATIONS. The Bond and Additional Bond~ shall be special obligations of the City payable solelr from the pledged Net Revenues, and the holder or holders tQ~reof shall never have the right to demand payment thereof out o:f(fund$ raised or to be raised by taxation. Se~.tion 25. APPROVAL AND REGISTRATION OF BONDS. That the Mayor of said City is hereby authorized to have control of said Bonds ~nd 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 Bon said Comptroller 'of Public Accounts (or a deputy designated in writing to act. for said Comptroller) shall manually sign th . t;' f , . .~ Comptroller's ,Registration Certificate prescribed herein . to be printed and e'ndorsed on each' Bond, and the seal of .' . said Comptrol~er shall be impressed, or printed, or lithograph d on each of said Bonds. Sec.tion.26. That , , has submitted a bid to purchase said bonds for cash for the principal amount or par value thereof and accrued interest thereqn to the date of delivery, plus a premium of $ It is hereby officially found, determined and declared that said bidder is the highest and best bidder for said bonds; and said bonds are hereby sold . to said' highest and best bidder and shall be delivered as soon as practicable in accordance with the terms of sale. 'Section 27. All ordinances and resolutions and parts thereof, including, but not limited to ordinance passed by the' City Commission on the 6th day of December, 1965, authorizing the issuance of City of La Porte Airport Revenue Bonds, Series 1966, in conflict herewith are hereby expre~s'ly repealed insofar as they conflict herewith. :~I' . . ( ~ 1 r; /': or. , f- ,. -. . . . . GENERAL CERTIFICATE THE STATE OF TEXAS COUNTY OF HARRIS CITY OF LA PORTE We, the undersigned, hereby officially certify that we are the Mayor and, City'Clerk, respectively, of said City, and we further certify as follows: l. That said City is a duly incorporated' Home Rule City, having more than 5000 inhabitants, operating and existing' under the ConstItution and laws of the S tate of Texas and the - Home Rule Charter of said City, which Charter has not been changed or amended since, the passage of the ordinance authorizin the City of La Porte Waterwo~ks and Sewer System Revenue Bonds" Series 1965', dated August 1, 1965. 2. That no litigation of any nature is pending per- taining to,- affecting, or contesting: (a) the election which .authorized the proposed City of La Porte Airport Revenue Bonds, Series 1965, dated December l5, 1965-, in the principal amount of $60,000, (b) the issuance, delivery, payment, security, or validity of said proposed bonds, (c) the title of the present members and officers' of the City Commission of said City to thei respective offices, or (d) the validity of the corporate existen e or the Chartet of ~aid City. 3. . That none of the revenues or income of said City's Airport have been pledged or encumbered to the payment of any debt or obligation of said City or ,said Airport, except in conne - tion with the afore~aid proposed Series 1965 Bonds. 4. That the Net Revenues of the City's Airport, as such terms are defined in the Ordinan~e authorizing the issuance and delivery of the aforesaid proposed Series 1965 Bonds, are estimated and anticipated to be at least $ 5,982.00 for each Fiscal Year of the City during the period while said bonds are scheduled to be outstanding. 5.' That the 'average annual principal and interest requirements of t~e'aforesaid proposed Series 1965 Bonds are not more than $4,98l.58. 6. . Attached hereto, marked "Exhibit A," is a schedul of estimated earn;i..ngsof the City's Airport for the years 1966 to 1984, both inclusive. ~u..Jc.,~ /9~.r' SIG.NED AND SEALED this the ~ day of Janaar}', 1966'. '\..rr! J...v. ~_.A~ ~..:J....~.1 #~#t/ Cit Clerk .,. , , ., .. . 0 <:.~ ~ . ,,,' 0 r .~ "' (SEAL) "'t. . . ,:, . --~ . V'*o - :.t:. -..+~ /~ <If.. ~; . .; ~ ~ . ~~ ~: ~<~~/~ .! ;-" .' 1 -.t;./ .' ~ ...... ;'4 EXHIBIT "A" 'ESTIMATED ESTIMATED .' YEAR GROSS OPERATION AND MAIN- NET ENDING ' REVENUES . TENANCE EXPENSES REVENUES 1965 ,,$ 7 ;,082,'-00 $l,lOO.OO $5,982.00 1966 . ? ~ 08!l. 00 1,100.00 5,982.00 1967 7,082.00 1,100.00 5,982.00 1968 . 7,082.00 l,lOO.OO 5,982.00 1969 7,082.00 1,lOO.00 5,982.00 1970' 7,082.00 l,lOO.OO 5,982'-00 1971 . 7,082.00 1,100.00 5,982.00 1972 7,082.00 1,lOO.00 5,982.00 1973 7,082.00 1,lOO.00 5,982.00 1974 7,082.00 1,100.00 5,982.00 1975 7 ,0'82 '. 00 1,100.00 5,982.00 1976 7,082.00 1,100.00 5,982.00 1977 7,082.00 1,100.00 5,982.00 1978 7,082.00 1,lOO.00 5,982.00 1979 7,082.00 1,100.00 5,982.00 1980 7,082.00 l,lOO.OO 5,982.00 .-. 1981 7,082.00 l,lOO.OO 5,982.00 1982 7,082.00 1,100.00 5,982.00 1983 7,082~00 l,lOO.OO 5,982.00 1984 7~082.00 1,100.00 5,982.00 . . " . . 1 ACKNOWLEDGMENT.,OF NOTICE OF SPECIAL MEETING THE STATE OF TEXAS '.<< - -- COUNTY OF HARRIS CITY OF LA PORTE Each of the undersigned members or officers of the City,Commission of the City of La Porte hereby acknowledges and certifies that he was duly and sufficiently notified officially and personally, in advance, of the time, place, and purpose of the Special Meeting of said City Commission , 1'2,+1- held on the ~h 'day of January, 1966, and that an Ordinance Amending the Bond Ordinance passed on the 27th, day of , December, ". 1965, would be considered for passage at said Meeting, and that he consented, in advance, to the holding of said Meeting for such purpose. J#- SIGNED this the ~ day of January, 1966. '.' ~. ~~:~ .. . .." e.. -e .~::,., " , , . . CERTIFICATE FOR AMENDING ORDINANCE THE STATE OF TEXAS COUNTY OF HARRIS CITY OF LA PORTE We, the undersigned officers of said City, hereby certify as follows: 1. The City Commission of said City convened in SPECIAL MEETING ON THE. I~H DAY OF JANUARY, 1966, at the City Hall, and the roll was called of the duly constituted officers and members of said City Commission, to-wit: Harold P. Pfeiffer, Mayor Lois J. Compton Russell Shepherd Tom W. Osburn W. A. Stabs, Jr. Mrs. Marilyn Kelley, City Clerk and all of said persons were present, except the following absentees: NON ~ thus constituting a quorum. the following was transacted , Wqereupon, among other business, at said Meeting: a written ORDINANCE AMENDING' BOND ORDINANCE PASSED DECEMBER 27, 1965 was duly introduced for the consideration of said City Commissio and read in full. It was then duly moved and seconded that said Ordinance be passed; and, after due discussion, said motion, carrying with it the passage of'said Ordinance, 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 aforesai Ordinance passed at the Meeting described in the above and fore- going paragraph is attached to and follows this Certificate; tha 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 Commission's minutes of said Meeting pertaining to the passage of said Ordi- nance; that the persons named in the above and foregc~ng 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 passag 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 hereb approves, the aforesaid Ordinance; that the Mayor and the City Clerk of said City have duly signed said Ordinance; and that the Mayor 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. ,_.....~'$..,.~~~\ ',' ~ . '!'t ...., /~::;,.. -':.~~.~:~.;.S IGNED AND SEALED the 12th day of January, 1966. ,...;:.0: i'< . '~1"~ ~ .~ ~:..-:' jb /f;~/10 ",; ~,,,.^ ~J'''r2~'<l\.>,~ '(It. ~ -:~ .. .~, ':~ C~,t,Y C 1 rk "i/ , ~.; , or. ...:~ ir .~ I ... "Jr..'- ~ ~ ' ,\ :_~r-: \'....:.. .~r . *" . 1 , ORDINANCE AMENDING ORDINANCE AUTHORIZING THE ISSUANCE OF AIRPORT BONDS THE S TATE OF TEXAS '.-, COUNTY OF HARRIS CITY OF LA PORTE WHEREAS, on December 27,.1965, the City Commission of the City of La Porte, Texas, passed an ordinance authorizing the issuance of City ,of La Porte Airport Revenue Bonds, Series 1965, for the purpose of enlarging, improving and equipping the City's airport, in accordance with Vernon's Article l269j-5; and WHEREAS, said ordinance passed on December 27, 1965 should be amended to provide for a new Section 26. . BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF LA PORTE: That the ordinance pas.~ed on December 27,1965, authorizi g the issuance of City of La Porte Airport Revenue Bonds, Series 1965, is hereby amended to provide a new,Section 26 in lieu of Section 26 contained in said ordinance, which new Section 26 shall be as follows: "Section 26. That f3A- 'r fi .fl-r-' 4h -I J. . 134/YA... ).t4' fJ,~ fE ~~AC , has submitted a bid to purchase said bonds for cash for the principal amount or par value thereof and .e accrued interest thereon to the date of delivery, plus a premium of $ -0 - . It is hereby officially found, determined and declared that said bidder is the highest and bes~ bidder for said bonds; and said bonds are ~ereby sold to said highest and best bidder and shall be delivered as soon as practicable in accordance with the terms of sale." .'~-' ..., ,