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The City of Georgetown, a lawfully created and existing municipal cor-
poration in Williamson County, Texas, FOR VALUE RECEIVED, hereby promises
to pay to bearer, solely from the special funds hereinafter specified, the
sum of FIVE THOUSAND DOLLARS ( $5,000.00), on the lot day of June, 19 ,
and from said special funds, to pay interest thereon from the date hereof at
the rate of percent () per annum, on December 1, 1966,
and thereafter semi-annually on June lot and December let in each year until
the principal amount of this Bond shall have been paid. The principal of
this Bond and the interest coupons attached hereto shall be payable to bearer,
in lawful money of the United States of America, without exchange or collection
charges to the bearer, upon presentation and surrender of this Bond or proper
interest coupons at the Citizens State Bank, Georgetown, Texas, or, at the
option of the bearer, at the First National Bank, Georgetown, Texas, or at
the option of the bearer, at
This Bond is one of a Series of 65 Bonds, numbered consecutively from
1 to 65, inclusive, of the denomination of Five Thousand Dollars ($5,000.00)
each, aggregating Three Hundred Twenty-five Thousand Dollars ($325,000.00),
(being the first parcel or installment of a total voted authoriztion of $400,000);
Bonds of said Series in the amount of $45,000.00 being issued by the City of
Georgetown, exas, for the purpose of constructing extensions and improve-
ments to the City's waterworks system, Bonds of said Series in the amount of
$80,000.00 being issued for the purpose of constructing extensions and improve-
ments to the City's sewer system, and Bonds of said Series in the amount of
$200,000.00 being issued for the purpose of constructing extensions and im-
provements to the City's electric light system, in accordance with the Con-
stitution and laws of the State of Texas, particularly Articles 1111 - 1118,
both inclusive, of the Revised Civil Statutes of Texas, 1925, as amended, and
by authority of a vote of the qualified property taxpaying voters of the
City of Georgetown, Texas, who owned taxable property therein and who had duly
rendered the same for taxation, voting at an election held for that purpose
within said City on February 26, 1966, and pursuant to an ordinance passed by
the City Council of the City of Georgetown and duly recorded in the Minutes of
said City Council.
This Bond, and all Bonds of the Series of which it is one, together
with the "City of Georgetown Utility System Revenue Bonds, Series 1964," dated
June 1, 1964 (Herein collectively called the "Parity Bonds"), constitute
special obligations of the City of Georgetown, each payable as to both principal
and interest and equally secured by a first lien on and pledge of the net
revenues of the City's combined waterworks, sewer and electric light system, in-
cluding all additions, extensions and improvements thereto which may hereafter
be made (hereinafter referred to as the "Utility System"), after deduction of
reasonable expenses of operation and maintenance.
The City reserves the right to issue not only the $5,000.00 balance
of revenue bonds authorized at the election held February 26, 1966, for the
purpose of constructing extensions and improvements to its waterworks system
and the $70,000.00 balance of revenue bonds authorized at said election for the
purpose of constructing extensions and improvements to its sewer system, but
also further and additional bonds, in all things on a parity with the Parity
Bonds, and payable from and equally secured by a first lien on and pledge of the
net revenues of the City's Utility System; PROVIDED, HOWEVEt, that any and