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<br />. <br /> <br />. <br /> <br />ORDINANCE NO. 1635 <br /> <br />AN ORDINANCE CONSENTING TO THE ISSUANCE AND SALE OF BONDS BY LA <br />PORTE AREA WATER AUTHORITY: PROVIDING FOR A SEVERABILITY CLAUSE: <br />FINDING COMPLIANCE WITH THE OPEN MEETINGS LAW: AND PROVIDING FOR AN <br />EFFECTIVE DATE HEREOF. <br /> <br />WHEREAS, the La Porte Area Water Authority (the "Authority") <br /> <br />was created as a conservation and reclamation district in Harris <br /> <br />County, Texas pursuant to the provisions of Article XVI, Section 59 <br /> <br />of the Texas Constitution and Chapter 729, pages 2678 et seq. Acts <br /> <br />of the 67th Legislature of the State of Texas, Regular Session, <br />1981 (the "Act"): and <br /> <br />WHEREAS, Section l2(b) of the Act authorizes the Authority to <br /> <br />borrow money from time to time for the purposes specified in the <br /> <br />Act by, among other things, issuing and selling revenue bonds: <br /> <br />provided, however, that the Authority may borrow money only with <br /> <br />the prior approval of the city council (the "City Council") of the <br /> <br />City of La Porte (the "City"): and <br /> <br />WHEREAS, the Board of Directors of the Authority has informed <br /> <br />the City Council that the Authority desires to issue and sell its <br /> <br />Contract Revenue Bonds, Series II 1988, in the aggregate principal <br />amount of $4,800,000, in order to finance the construction of a <br /> <br />transmission and distribution system to transport water from the <br /> <br />Southeast Water Purification Plant under construction by the City <br /> <br />of Houston (the "Southeast Plant") to customers of the Authority <br /> <br />and for other related purposes: and <br /> <br />WHEREAS, the City has entered into a Water Supply Contract <br /> <br />with the Authority for the City to purchase water treated at the <br /> <br />Southeast Plant from the Authority: and <br />