HomeMy WebLinkAbout0292_290290
�;
WITNESS MY HAND and seal of office at Austin, Texas, this
Comptroller of Public Accounts o
The State of Texas
Section 10. IT IS FURTHER ORDAINED by the City Council of the
City of Georgetown, Texas, that while said bonds, or any of them, are
outstanding and unpaid, there shall be annually levied, assessed and
collected in due time, form and manner a tax upon all taxable property
in the City of Georgetown sufficient to pay the current interest on said
bonds and create a sinking fund sufficient to pay each installment of the
principal as the same becomed due; and there is hereby levied for the
current year a sufficient tax on each $'100.00 valuation of taxable proper#y
in said City, and the same shall be assessed and collected and applied to the
purpose named; and while said bonds, ®r any of them, are outstanding and
unpaid, a tax for each year at a rate from year to year as will be ample and
sufficient to provide funds to pay. the' tcurrent interest on said bonds .and to
provide the necessary sinking fund to pay the principal, full
allowance being made for delinquencies and costs of collection, or to pro-
vide at 1O&et two per cent(2%) of the principal as a sinking fudd,whichever
amount is greater, shall be, and is hereby levied for each year, res-
pectively, while said bonds, or any of them , are outstanding and unpaid,
and said tax shall each year be assessed and collected and applied to the
payment of the interest on and principal of said bonds.
Section 11. That the bonds and a complete record of proceedings
shall be submitted to the Attorney General of the State of Texas for his
approval; and after he shall have approved the same. the bonds shall be
deposited with the Comptroller of Public Accounts for registration. The
State Comptroller is hereby authorized and directed to deliver the
registered bonds to the American Notional Bank of Austin, Austin, Texas.
Section 12. That the bid of par and accrued interest to date
of delivery submitted bl., Rauscher, Pierce & Co., Inc., is hereby found
and determinbd to be the best bid received for the bonds herein authorized
and said bid is hereby accepted. Telivery of the bonds shall be made
to said purchasers as soon as may be after the passage of this ordinance
upon payment therefor in accordance with the terms of sale.
Section 1.3. The fact that the City of Georgetown, Tp,xus, is
badly in need of the improvements herein contemplated and said improvements
will be to the best interest and general w„lfare of the City of Georgetown