Loading...
HomeMy WebLinkAbout0276_274274 a. C: of Georgetown, ;payable as to both principal and interest from and � secured by a first lien on and pledge of the revenues of the combined waterworks, sewer and electric light system after daduction of reason - a. be eason-ab 1 operRtion and maintenance expenses. PROPOSITION NO. 3. Shall the City Council of the City of Georgetown, Texas, be authorized to issue 411,)b,000.00 of revenue bonds of said City, maturing serially over a period of years not to exceed thirty (30) years from their date, bearing; interest at a rate not to exceed five per cent(5'f) per annum, for the purpose of constructing extensions and improvements to the City bower system ; said revenue bonds to be special obligations of the City of Georgetown, payable as to both principal and interest from and secured by a first lien on and pledge of the revenues of the combined waterworks, sewer and electric light system, after deduction -6f reasahiible operation and maintenance expenses. Section 2. That the revenue bonds hereinabove mentioned in Propositions 2 and 3 are to be ratabley secured in such manner that no one bond shall have priority of lien over any other bond, it being the intent hereof to provide for the creation of an indebtness against the City's combined waterworks, sewer and electric light system for the purposes stated in said Propositions 2 and 3, and such bonds submitted under those two propositions as are approved by the qualified voters voting at the election herein and hereby ordered, are to be issued in one or more installments, but as a single combined authorization; and t:.qe holder or holders of such bonds shall never have the right to demand payment thereof out of any funds raised or to be raised by taxation. $46t ion 3. That said election shall be held at the FIRE7STATI01: in the City of Georgetown, Texas, (all of said City being included in on election precinct) and the following named persons are hereby appointed managers thereof, to -wits Mrs. R. D. Bias , PRESIDING JUDGE Mrs. Tom McAffertty , ASSISTANT JUDGE hiss Ruth Munson , CLERK J. D. Whitcomb CLERK. Absentee voting shall be conducted at the Office of the City Secretary of the City of Georgetown, City Hall, Georgetown, Texas, and Notice thereof shall be posted in said Office at least twenty (20) days prior to the date fixed for said election.