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such bonds to bear interest at a rate not to exceed five per cent
(5;4) per annum, and to mature serially over a period of years not to
exceed thirty (30) years from their date; and
MILULAS, it was provided in the order calling said election and
in the notice of such election that the bonds of the three series
hereinabove mentioned were to be ratably secured in such manner that
no one bond shall have priority of -lien over any other bond or bonds,
it beim; the intent to provide for the creation of an indebtedness
against the City's combined waterworks, sewer and electric light sys-
tem for the purposes therein stated; such bonds, if approved by the
qualified voters, voting at said election, to be issued in one or
more installments, but as a single combined authorization, and to be
payable from the same source as are the "City of Georgetown Utility
System Revenue Bonds, Series 1964," dated June 1, 1964, and secured
by the same revenues, and to occupy a position of parity in all respects
with said Utility System Revenue Bonds, Series 1964; and
W111:1LEAS, on May 2, 1966, the City Council passed an ordinance
authorizing the issuance of $325,000 of the bonds so authorized at
said election, such bonds being designated CITY OF GLORGh'TOWN UTILITY
SYSTaiILEVL-NUE BONDS, SEiIES 1966, and dated June 1, 1966, of which
$45,000 of bonds were issued for the purpose of constructing
extensions and improvements to the City's waterworks system, 0'80,000
of bonds were issued for the purpose of constructing extensions and
improvements to the City's sewer system, and $200,000 of bonds were
issued for the purpose of constructing extensions and improvements
to the City's electric light system; and
W1I1 LIAS, said $325,000 of bonds were duly approved by the
Attorney General of the State of Texas, registered by the State
Comptroller, and sold and delivered; and
I'11ULLAS, the City Council now deems it advisable and to the best
interest of the City of Georgetown to make further extensions and
improvements to the City's waterworks system and to issue the $5,000
balance of bonds so authorized at said election of February 26, 1966,
for such purpose, and to make further extensions and improvements to
the City's sewer system and to issue the $70,000 balance of bonds so
authorized at the aforesaid election for such purpose; and
WHIRLA.S, the City Council has determined that the City is not
in default as to any covenant, condition or obligation prescribed by
the ordinances authorizing the issuance of said City of Georgetown
"Utility System Revenue Bonds, Series 1964," and "Utility System
Revenue Bonds,'Series 1966," and has complied with all the require-
ments set out in said ordinances with reference to the issuance of
additional parity revenue bonds; and
11`11MLAS, it is now necessary and proper that the City Council
proceed with the issuance of such $75,000 of bonds;
T1IEILLFOI�E, BE IT OJWAINED BY THE CITY COUNCIL 01' TILE CITY OF
GEORGETOWNi, TEXAS:
SECTION 1. That the City Council of the City of Georgetown,
Texas, by virtue of the authority expressly conferred upon it by