HomeMy WebLinkAboutOrd. 1979-1147 - canvass bond election
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ORDINANCE NO. 1147
ORDINANCE CANVASSING RETURNS AND DECLARING
RESULTS OF BOND ELECTION AND DECLARING THAT
SAID ORDINANCE SHALL BE EFFECTIVE IMMEDIATELY
UPON ITS ADOPTION
WHEREAS, on the 17th day of January, 1979, the
City Commission of the City of La Porte, Texas, adopted
an ordinance calling an election to be held in said City on
the 24th day of February, 1979, for the purpose of submitting
to the duly qualified resident electors of said City for
their action thereon the following propositions, to-wit:
PROPOSITION NO. 1
SHALL THE CITY COMMISSION OF THE CITY OF LA PORTE,
TEXAS, BE AUTHORIZED TO ISSUE THE TAX BONDS OF SAID
CITY, IN ONE OR MORE SERIES OR ISSUES, IN THE
AGGREGATE PRINCIPAL AMOUNT OF $2,000,000, MATURING
SERIALLY WITHIN 25 YEARS FROM THEIR DATE OR DATES,
AND BEARING INTEREST AT' A RATE OR RATES NOT TO
EXCEED THE MAXIMUM NOW OR HEREAFTER AUTHORIZED BY
LAW, ALL AS SHALL BE DETERMINED WITHIN THE DISCRETION
OF THE CITY COMMISSION, FOR THE PURPOSE OF EXTENDING
AND IMPROVING THE CITY'S EXISTING SANITARY SEWER
SYSTE~, AND TO LEVY TAXES UPON ALL TAXABLE PROPERTY
WITHIN SAID CITY ANNUALLY, SUFFICIENT TO PAY THE
INTEREST ON SAID BONDS AS IT ACCRUES, AND TO CREATE
AND PROVIDE A SINKING FUND TO PAY THE PRINCIPAL OF
SAID BONDS AS THEY MATURE?
PROPOSITION NO. 2
SHALL THE CITY COMMISSION OF THE CITY OF LA PORTE,
TEXAS, BE AUTHORIZED TO ISSUE THE TAX BONDS OF SAID
CITY, IN ONE OR MORE SERIES OR ISSUES, IN THE
AGGREGATE PRINCIPAL AMOUNT OF $1,250,000, MATURING
SERIALLY WITHIN 25 YEARS FROM THEIR DATE OR DATES,
AND BEARING INTEREST AT A RATE OR RATES NOT TO
EXCEED THE MAXIMUM NOW OR HEREAFTER AUTHORIZED BY
LAW, ALL AS SHALL BE DETERMINED WITHIN THE DISCRETION
OF THE CITY COMMISSION, FOR THE PURPOSE OR EXTENDING
AND IMPROVING THE CITY'S EXISTING WATERWORKS SYSTEM,
AND TO LEVY TAXES UPON ALL TAXABLE PROPERTY WITHIN
SAID CITY ANNUALLY, SUFFICIENT TO PAY THE INTEREST
ON SAID BONDS AS IT ACCRUES AND TO CREATE AND
PROVIDE A SINKING FUND TO PAY THE PRINCIPAL OF SAID
BONDS AS THEY MATURE?
WHEREAS, the duly qualified resident electors of
said City cast the following votes at said election on said
proposition, to-wit:
PROPOSITION NO. 1
FOR THE ISSUANCE OF $2,000,000
SANITARY SEWER SYSTEM TAX BONDS
293
votes
AGAINST THE ISSUANCE OF $2,000,000
SANITARY SEWER SYSTEM TAX BONDS
113
votes
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PROPOSITION NO. 2
FOR THE ISSUANCE OF $1,250,000
WATERWORKS SYSTEM TAX BONDS
277
votes
AGAINST THE ISSUANCE OF $1,250,000
WATERWORKS SYSTEM TAX BONDS
115
votes
as shown in the official election returns heretofore sub-
mitted to said City Commission and filed with the City Clerk;
therefore,
BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF LA PORTE:
Section 1: That the City Commission officially finds
and determines that the bond election held in and throughout
the City of La Porte, Texas, on the 24th day of February, 1979,
which election is more particularly described in the preamble
~ to this ordinance, was duly called and notice thereof duly
given in accordance with law; that said election was duly
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held in the manner required by law; and that the returns
of the election have been duly delivered to the City Commission
and it has duly canvassed the. same.
Section 2: That said election has resulted in
favor of the adoption of Propositions Nos. I and 2
respectively providing for the issuance of tax bonds for the
purpose of extending and improving the City's existing
sanitary sewer and waterworks systems; and that more than a
majority of the duly qualified resident electors of the City who
voted in said election voted for the issuance of said bonds.
Section 3: That the City Commission is now authorized
to issue all of the bonds described in said Propositions Nos. 1
and 2 anq to levy, assess and collect the taxes in payment thereof,
and is now authorized to do any and all things necessary and
convenient in connection therewith.
Section 4: That this ordinance shall take effect
and be in full force upon and after its adoption.
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PASSED AND APPROVED on February 24, 1979.
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Mayor, City of L~orte,
Texas
ATTEST:
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City C1~~it of
La Porte, Texas
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