O-1979-768-B - Laserfiche WebLink

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.' . I I . , e e ORDINANCE NO. ?t;I-Lj AN ORDINANCE CONSENTING TO THE ISSUANCE AND SALE OF BONDS BY SPENWICK PLACE MUNICIPAL UTILITY DISTRICT ' WHEREAS, Ordinance No. 768 passed and approved by the City Commission on May 1, 1967, as amended by Ordinance No. 768-A passed and approved by the City Commission on July 20,1970, among other things imposes certain conditions upon the' Bonds which may be issued and sold by certain pOlitical :subdivisions which are created within the area of the extra-territorial juri~diction of the City; and WHEREAS, Spenwick Place'Municipal Uti;Liti>District is I one of such political subdivisions created within",the area of the City's extra-territorial jurisdiction, and said District wishes to issue and sell $275,000 of its Waterworks and Sewer System Combination Unlimited Tax and Revenue Bonds, Series 1979, to the Texas Water Development Board, on terms and conditions which are not strictly in accordance with the requirements of said Ordiance; and WHEREAS, the issuance and sale of said Bonds by Spenwick Place Municipal Utility District to the Texas Water Development Board on the proposed" terms and conditions is satisfactory and in the best interest of the City; and WHEREAS, the City desires to qonsent to the issuance and sale of said Bonds; therefore BE,IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF LA PORTE: Section 1. That the City of La Porte hereby consents to the issuance and sale by Spenwick Place Municipal Utility District of $275,000 'of its Waterworks and Sewer System Combination Unlimited Tax and Revenue Bonds, Series 1979, to the Texas Water Development Board upon the terms and conditions se~ forth in said District's order authorizing such Bonds passed and approved on October 8, 1979.