CC Resolution No. 354 RESOLUTION N0. 354
A RESOLUTION AMENDING RESOLUTIONS PREVIOUSLY PASSED
AND APPROVED PERTAINING TO THE INTEREST TO BE BORNE
BY BONDS OF CERTAIN POLITICAL SUBDIVISIONS AS TO
THE FORMATION OF WHICH THE CITY COUNCIL HAS HERETO-
FORE PASSED RESOLUTIONS GRANTING ITS CONSENT.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF BAYTOWN :
Section 1 : Resolutions previously passed and approved
granting consent to the formation of certain utility districts
are hereby amended so that each political subdivision which has
been the subject of a consent resolution or resolutions hereto-
fore passed by the City Council of the City of Baytown is
hereby granted consent, notwithstanding contrary provisions in
such consent resolution or resolutions, to issue and sell bonds
of such political subdivision at a price or prices not less
than 95% or par, provided the net effective interest rate on
bonds so sold, taking into account any discount or premium as
well as the interest rate borne by such bonds, shall not exceed
two percent (2%) above the highest average interest rate re-
ported by the Daily Bond Buyer in its weekly "20 Bond Index"
during the one-month period next preceding the date notice of
the sale of such bonds is given. All other restrictions in such
consent resolution or resolutions, as the same may have been
from time to time amended, are hereby continued in full force
and effect.
INTRODUCED, READ and PASSED by the affirmative vote of
the members of the City Council of the City of Baytown, on this
the 7th day of OctohPr , 1971.
C. GLEN WALKER, Mayor
ATTEST:
EDNA OLIVER, City Clerk
APPROVED:
NEE R CH RDSON, City At