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as to any covenant, condition or obligation prescribed by the ordinance author -
icing the issuance of said City of Georgetown Utility System Revenue Bonds,
Series 1964, and has complied with all the requirements set out in said ordinance,
with reference to the issuance of additional parity revenue bonds; and
WHEREAS, it now being determined by the City Council that it is not
desired at this time to issue all of the bonds voted at said election of
February 26, 1966; that $325,000.00 is the amount of bonds now desired to be
issued, to -wit: $45,000.00 for the purpose of constructing extensions and improve-
ments to the City's waterworks system, $80,000.00 for the purpose of constructing
extensions and improvements to the City's sewer system, and $200,000.00 for the
purpose of constructing extensions and improvements to the City's electric
light system, and that the remaining amount of bonds, to -wit: $5,000.00 of bonds
for waterworks system improvements and $70,000.00 of bonds for sewer system
improvements, shall be issued at a future date or dates, when in the judgment of
the City Council, the proceeds of said bonds are needed for the purposes for
which authorized; and
WHEREAS, it is now necessary and proper that the City Council proceed
with the issuance of such $325,000.00 of bonds;
T111RFFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF GEORGETOWN,
TEXAS:
Section 1. That the City Council of the City of Georgetown, Texas, by
virtue of the authority expressly conferred upon it by the resident qualified
property taxpaying voters of said City, who owned taxable property in the City.
and who had duly rendered the same for taxation, voting at an election held for
that purpose on February 26, 1966, and pursuant to the general laws of the
State of T"�'xas, particularly Articles 1111 - 1118, inclusive, of the Revised
Civil Statutes of Texas, as amended, has determined that there shall be issued,
and there is hereby issued, a series of coupon Bonds in the total principal
amount of THREE HUNDRED TWENTY FIVE THOUSAND DOLLARS ($325,000), of which
$45,000 of Bonds shall be issued for the purpose of constructing extensions
and improvements to the City's waterworks system, $80,000 of Bonds shall
be issued for the purpose of constructing extensions and improvements to the
City's sewer system, and $200,000 of Bonds shall be issued for the purpose
of constructing extensions and improvements to the City's electric light system.
That said Bonds shall be designated CITY OF GEORGETOWN UTILITY STSTEM REVENUE
BONDS, SERIES 1966, and shall be payable, together with the outstanding 'City of
Georgetown Utility System Revenue Bonds, Series 1964, dated June 1, 1964, solely
from and secured by a first lien on and pledge of the revenues of the City's com-
bined waterworks, sewer and electric light system, after deduction of reasonable
operation and maintenance expenses, as such expenses are defined by statute.
Section 2. That said Bonds shall be dated June 1, 1966; shall be number-
ed consecutively from One (1) to Sixty-five (65), both inclusive; shall be of
the denomination of Five Thousand Dollars (%,000.00) each; and shall become due
and payable serially in accordance with the following schedule:
BOND NUMBERS
_
( Inclusive)
14aturity dates
AMOUNTS
1 - 8
June
1,
1967
$10,000
3 - 4
June
1,
1968
10,000
5 - 6
June
1,
1969
10,000
7 - 8
June
1,
1970
10,000
9 - 10
June
1,
1971
10,000
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