HomeMy WebLinkAbout0203_1961196
ORDINANCE AUTHORIZING THE ISSUANCE OF
REVENUE BOND
THE STATE OF TEXAS
COUNTY OF WILLIAMSON
CITY OF GEORGETOWN
On this day the 6th day of April, 1970, the City Council of the City of
Georgetown, Texas, convened in special session at the regular meeting place
thereof in the City Hall with the following members present:
JAY.C. SLOAN, MAYOR
A. F. DAVIS
DOYLE LYDA
11UBERT BROCK ALDERMEN
HARRY GOLD
WILLIAM'R� EANES
CLAUD FADS CITY SECRETARY
and the hollowing absent: None, constituting a quorum, when•the following,
amoung other proceedings were had, to -wit:
Alderman Eanes introduced a proposed ordinance which was read in full.
Alderman Gold moved that the rule requiring ordinances to be read at more than
one meeting be suspended. The motion was seconded by Alderman Brock.
The motion carried yby the following vote: AYES: Aldermen Davis, Lyda,
Brock, Gold, and Eanes: NOES: None.
Alderman Gold moved that the ordinance be passed finally. The motion was
seconded by Alderman Brock.
The motion carried by the following vote: AYES: Aldermen Davis, Lyda,
Brock, Gold, and Eanes: NOES: None.
The Mayor announced that the ordinance had been finally passed.
AN ORDINANCE
BY THE CITY COUNCIL OF THE CITY OF GEORGETOWN, TEXAS, AUTHOR-
IZING THE ISSUANCE OF REVENUE BONDS OF SAID CITY IN THE TOTAL
PRINCIPAL AMOUNT OF $400,000 (BEING THE FIII.ST PARCEL Oil IN-
STALLMENT OF A TOTAL VOTED AUTHORIZATION OF $675,000), OF
WHICH $175,000 OF BOND ARE AUTHORIZED FOR THE PURPOSE OF
CONSTRUCTING E:XTEaiSIONS AND IMPROVEAiENTS TO THE CITY'S WATER
WORKS SYSTEM; $100,000 OF BONDS ARE AUTHORIZLD FOR THE PUTOSE
OF CONSTIIUCTING EXTENSIONS AND IMPROVE;ID24TS TO THE CITY'S
ELECTRIC LIGHT SYSTEM; PRESCRIBING THE FORM, TERMS AND CON-
DITIONS OF THE BOND AND THE FORM OF THE INTE:RE:ST COUPONS;
PLEDGING THE REVENUES OF THE CITY'S COMBINED WATERWORKS,
SEWER AND ELECTRIC LIGHT SYSTEM TO THE PAYMENT OF PRINCIPAL
OF AND INTEREST ON SAID BONDS AFTER DEDUCTION OF REASONABLE
EXPENSES OF OPERATING AND MAINTAINING SAID COMBINED SYSTEM;
MAKING CERTAIN COVENANTS OF SAhD CITY WITH REFERENCE TO THE
BOND FUND FROM WHICH SAID PRINCIPAL AND INTEREST ARE TO BE
RAID; ENACTING PROVISIONS INCIDENT AND RELATING TO THE SUB-
JECT AND PURPOSE OF THIS ORDINANCE; CONFIRMING THE SALE OF THE
BONDS; AND DECLARING AN EMERGENCY.
WHEREAS, under and by virtue of an order passed and adopted by the City
Council of the City of Georgetown, Texas, on November 12, 1960, an election was
ordered to be held in said City on December 10, 1969, on the questions of the
issuance of $350,000 of revenue bonds for the purpose of constructing extens-
ions and improvements to the City's waterworks system, $100,000 of revenue
bonds for the purpose of constmucting extensions and improvements to the City's
sewer system, and $225,000 of revenue bonds for the purpose of constructing
extensions and improvements to the City's electric light system; such revenue
bonds to bear interest at a rate not exceeding that permitted by law, and to
mature serially over a period of years not to exceed thrity (30) years from their
date; and
ihiWiFAS, said election was held pursuant to said order on December 10, 1969;
and
WIMLLAS, the City Council has examined into and investigated the regularity
of the proceedings for said election and finds that the same was duly and legally