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AN ORDINANCE 0-<
BY TH^ CITY COUNCIL OF TF?F CITY OF GFORCETOV �, TEXAS,
A??THORIZING THE ISSUANCE OF " CT_` --'Y OF GEO�,GET01,N STP,FET
IMPROVETENT BONDS, SFRIrS OF 1963," IN THE AMOUNT OF
FIFTY THOUSAND DOLLARS ( �,50,000.00) FOR THE PURPOSE OF
CONSTRUCTING STREET IMPROVER'fSfTTS IN SAID CITY; PROVITM!G
FOR THE LEVY, ASSESS -HENT AND COLLECTION OF A TAX ON ALL
THE TAXABLE PROPERTY V;ITHIN T'r'E LIMITS OF SAID CITY TO
PAY THE INTFRE.J'T AND CREA` P, A SINKING FUND FOR THE RF;T'T1IP*
TION THEREOF; AuVARDING THE SALE OF THE BONDS, AND DECLARING
AN E ERGENICY.
hTEREAS, the City Council of the City of Georg town, Texas, has
heretofore on May 13, 19c3, adopted a resolution a" order calling an
election on the question of the issuance of x:50,000.00 Tax Bonds for
the purpose of constructing street improvements in said City, such
bonds to bear interest at a rate not to exceed fire per cent (5/) per
annum, and to mature serially over a period of years not to exceed
thirty (30) years from their date; and
1`tHEREAS, said election was held pursuant to said resolution and
order and in accordance with law on June 4, 1963, and resulted favor-
ably to the issuance of said 550,000,00 of bonds; and
V;HFREAS, the City Council has heretofore on June 10,1963,
adopted a resolution csn,•,assing the returns and declaring the result
of said election ; and
14?iEREAS, the City Council deems it advisable and to the best
interest of the City of Georgetown to now proceed with the issuance
of such bbnds;
THEREFORE, BE IT ORDAINED BY ` EE CITY CUL':ICIi. OF THE CITY OF
GEORGETOWN, TEXASt
Section 1. That the bonds of said jity, to be called "City of
GEORrF'TOT,N SPRP,rT EMPROVET MIT BONDS, SERIFS OF 1963," be issued under
and by virtue of the Constitution and laws of the State of Texas in the
sum of Fifty Thousand Dollars ($50,000.00) for the purpose of con-
structing street improvements in said City.
Section 2. That said bonds shall be numbered consecutively from
one (1) to fifty (50), inclusive, and shall be of the denomination of
Ond 'Thousand Dollars (;1,000.00) each.
Section 3. That said bonds shall be dated July 1, 1963, and
shall bear interest from date until paid as followas
Bonds numbered 1 to 20, inclusive, maturing July 1, 1964
through July 1, 1969, at the rate of two and seven-wC&tha
percent (2-7/1% ), per annum; and