HomeMy WebLinkAbout0087_80the 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 Texas,
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 SEVENTY-FIVE THOUSAND DOLLARS ($75,000),
os which $5,000 of Bonds shall be issued for the purpose of con-
structing extensions and improvements to the City's waterworks system
and x$70,000 of Bonds shall be issued for the purpose of constructing
extensions and improvements to the City's sewer system. That said
Bonds shall be designated CITY OF GEORGETOWN UTILITY SYSTEM REVENUE
BONDS, SERIES 1967, and shall be payable together with the outstand-
ing "City of Georgetown Utility System Revenue Bonds, Series 1964,"
dated June 1, 1964, and the outstanding "City of Georgetown Utility
System Revenue Bonds, Series 1966," dated June 1, 1966, solely from
and secured by a first lien on and pledge of the revenues of the City's
combined 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 November 1, 1967;
shall be numbered consecutively from One (1) to Fifteen (15), both
inclusive; shall be of the denomination of Five Thousand Dollars
($5,000) each; and shall become due and payable serially in accordance
with the following schedule:
BOND NIAIBEI S IV ITITAITY DATE:3 XOLI NTS
1 June 1, 1969 5,000
2 June 1, 1970 5,000
3 June 1, 1971 5,000
4 June 1, 1972 5,000
5 June 1, 1973 51000
6 June 1, 1974 5,000
7 June 1, 1975 5,000
8 June 1, 1976 50000
9 June 11 1977 59000
10 June 1, 1978 50000
11 June 1, 1979 5,000
12 - 15 inc. June 1, 1980 201000
SECTION 3. That said Bonds shall bear interest from date until
paid as follows:
Bonds numbered 1 to 5, inclusive, maturing June 1, 1969
through June 1, 1973, at the rate of FIVE PE1t CL.'NT (5%) per annum;
and
Bonds numbered 6 to 15, inclusive, maturing June 1, 1974
through June 1, 1980, at the rate of FOUR AND ONE;-11ALF PER CL?NT
(4-12;0) per annum;
such interest to be evidenced by proper coupons attached to each of
said Bonds and to be payable June 1, 1968, and semi-annually there-
after on December 1st and June 1st in each year.