HomeMy WebLinkAbout0359_357357
Pl,nt and other extensions and improvements to the City's sewer system and the
issuanea rsf �89,C100.00 of revenue bonds forr the purpose of constructing; ex-
tensiorns and irrpmreT„ents to the City's waterworks system; such revenue bonds
to bear interest at ,--rate rot to exceed five per cent (5;1,) per Annum, and to
m^ture seriglly over a period of-•-e.,rs not to exceed thirty (30) years from their
date; and
MllhaBAZS, said election was held pursuant to said order orr April 7, 1964; and
1rMEAS, the City Coruncil has exar.1;.ned into a-nd investig;,,ted the -regularity
of the proceedings for said electionr and finds that the same -was duly and leEally
held; that the notice- required by law to be given was duly and leEnKy given;
that said ele-et-on w.s conducted in Strict conformity i•rith the l,w; and that due
returns of s, id electionm m
have berm by the proper afficers; and
--'nU:E_kS, at said election, a majority of the rest-arnst qualified property
taxpm,ying;--aoters of the City of--Gaor ;etmrn-; who own texahle property in said City
and who had duly rendered the sane for t,xatiorr, votin,; ;,t grid election, voted in
favor of the issuance of said bonds in the totgl principal arount of ;8369,000.00;
and
i71U1,E1S, the City Oouneil has heretofore on April 13, 1964, passed w resolution
canvassing the returns and declArin.g the result of said election --And determining
the specific ruthor,i-ty of the City to--issue--said revenue bonds; and -
tit:iMEgS, it was provided in the aforesaid Order calling s, -1d election that
the bonds of the two series hereinabove mentioned were to be rPtably secured in
such manner that no one bond sh„11 have priority of Yein aver -any other bond or
bonds, it being the intention -to provide for the creation of In indebtedness
against the City's eor,ibir6d. waterworks, sewer --and electric light system for the
purposes therein stated, and which bonds, if ,rporoad by the qualified voters, -
voting at said election, -were to be issued in one or more installments, but as
single combined authorizRtion; pnd
tiV:lrq:;, the City Crruncil has determined to issue at this tire the entire
X369,000.00 of bonds so authorized at s:;id election; and--
-'
it is considered, found, and deterr.ined tht it is advis,ble and in
the best interest of the Cite of Georg;etocm to make anpropri.ate provisions herein
for t4 future issu.,nce of addition. 1 --revenue bonds,-7,rhich. if and when authorized
in Accordance with law are to occupy a position rrf parity and enjoy en equality
of lien on the revenues --of the City's combined waterworks, sewer and electric light
s"stem, with tPr, bonds authorized at the election held kpril 7, 1964; and further
to herein nrescri}re the rustr rations, covenants and limitations which shall govern the
issuance of such additinn.l parit,r bonds;
TilT_-1r?Mr,rRE, Bre IT CRDAI''M BY TRE CITY C017I'CIL OF T"UE CITY OF GE(RGET01'Tt', TEY.Ls:
Ser -tion. 1. Thpt the City Council of the City of (eorgetowri, Texas, by virtue
of the authority exnrFssly conferred upon it by the resident qualified property
taxnaying; voters of said City, who own taxable prone rty in the City and rrho had duly
renderfd the same for taxation, voti.-ng at an election held --for that purpose on April 7
1964, and pursuant to the general laws of the State of Texas, nA-rtirrul,;rly Articfirrs
1111-11188 both inclusive, of the hevised Civil Sto,tutes of texas, As amended, has
determined that there slrall be issue,', and there is hereb- issued, a series of
coupon fiords in the total principal -„mount of Tfff M 1 UNI)LiM SIY.TY ITINE MOITS.1ND
DULL;�S (e 369,000.000, to be designated CITY OF GEO GE"J.'(W T UTILITY--SYSTEL: R2,VE:JUE
BONDS, SitIL6 1964, for the purpose of eonstructi-rr a Sewage Disposal Ilant and other
extensions and Improvements to the- City's sewer system and extensions and improvements
to the City's w„terarorks system, pnd to be payable solely from and secured by a first
lien on and pledEe of the revenues of the City's r.orlt)ined watersorks,--sewer- and
electric light system, after drtduction of rersorrable exnenses of operation and
maintenzince, as said expenses are defined by st,tute.
Section 2 That said bonds shall be dated Jure 1, 1964; shall bre numbered
consecuti-ely fron One (1) to Seventy seven (77), 'both innclusi-,re, that bonds nur•bered
Una (1) to Four (4), inclusio -e, sh,ll 'be of the denomination of One _Thousand Dollars,
(w1,000.00) each wnd Bonds num'bored give (5) to Seventy Seven {77), --inclusive, shall
be of t'rx--derrnniration of Five Thotrsnd Dollars ($5,000.00), sach; And sha11 become
due and p,yable serially in accordance with the following schedule s
BO1 D IT1iIJBIJ:S
(Irclusivr)
L,,7'kITY D,72
r 0UNTS
1-7
June
1,
1965
19,000.00
g -
11
Jnne
1,
1966
20,o00.n0
12
- 15
June
1,
1067
20,000.00
16
- 19
June
1,
1968
20,000.00
20
- 23
June
1,
1969
20,nn0.nn
24
- 28
Jure
1,
1970
25,000.00
29 -
33
June
1,
1071
250000.00
34 -
3E3
June
1,
1972
251*000.00
39 -
43
June
1,
1073
25,Poo. 00