HomeMy WebLinkAbout0401_396The manner of holding said election shall be governed, as near as may be, by the
Texas Election Code, as amended, except as modifiztd by applicable law.
PASSED AND APPROVED at a meeting open to the public this the 13f day of
May, 1974, after public notice of the time, place and purpose of said meeting was given
and posted as required by law.
ATTEST:
City Secretary
�Crawford,►� . -Irl/�
AN ORDINANCE AUTHORIZING THE ISSUANCE OF SAN GABRIEL NEIGHBOR-
HOOD FACILITY FOR THE CITY OF GEORGETOWN WARRANTS, SERIES 1974,
AGGREGATING TWENTY TWO THOUSAND FIVE HUNDRED AND NO/100
($22,500.00) BEARING INTEREST AT THE RATE OF FIVE AND THREE FOURTHS
(5-3/4%) PER ANNUM FOR THE PURPOSE OF REMODEL, RESTORING, REPLAC-
ING, REPAIRING, REFURBISHING AND OTHERWISE IMPROVING THE COMMUNITY
BUILDING LOCATED LOCATED IN THE SAN GABRIEL PARK IN THE CITY OF
GEORGETOWN, PROVIDING FOR LEVYING AND COLLECTING TAXES ON
ALL OF THE TAXABLE PROPERTY IN SAID CITY SUFFICIENT TO PAY THE
INTEREST ON SAID WARRANTS AND THE PRINCIPAL AS IT MATURES AND
DECLARING AN EMERGENCY.
WHEREAS, it is deemed to be to the best interest of the City that there is a need
for remodeling, restoring, replacing, repairing, refurbishing and other improvements
be made to the community building located in the San Gabriel Park of the City of George-
town being the San Gabriel Neighborhood Facility for the City of Georgetown; and,
WHEREAS, the City Council find and adjudicates; That pursuant to the provisions
of Chapter 163, Acts of the Regular Session of the 42nd. Legislature the City is duly
authorized to issue Warrants in payment for labor, materials, and supplies; and,
WHEREAS, the City does not have on hand and available for such purposes, the
cash to pay for such labor and materials and supplies, but will have the funds on hand
from taxation sufficient to pays for Warrants herein authorized:
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE
CITY OF GEORGETOWN, TEXAS:
That Warrants to the City be denominated "San. Gabriel Neighborhood Facility for
the City of Georgetown Warrants, Series 1974" be issued in the sum of Twenty Two Thou-
sand Five Hundred and No/100 Dollars ($22,500.00) payable to bearer evidencing the
indebtedness of said City.
Said Warrants shall be numbered from One (1) to Five (5) inclusive, shall be in
the demoninations of Two Thousand Five Hundred and No/100 Dollars ($2,500.00) for one
(1) of suchwarrants and Five Thousand ($5,000.00) each for the remainder of said Warrants,
aggregating Twenty Two Thousand Five Hundred and No/100 Dollars ($22,500.00).
They shall be dated the 15th day of May, 1974, and shall bear interest at the rate of
Five and Three fourths (5-3/4%) per annum payable the 1st day of January, 1975, and
annually thereafter on the Ist day of each year thereafter until fully paid. Principal) and
interest of said Warrants shall be payable at Citizens State Bank of Georgetown, Texas,
and the said Warrants shall be made to mature serially as follows:
WARRANT NUMBERS
MATURITY
DATES
AMOUNTS
One (1)
January 1,
1975
$2,500.00
Two (2)
January 1p
1976
$5, 000.00
Three (3)
January 1,
1977
$5,000.00
Four (4)
January 1,
1978'
$5,000.00
Five (5)
January 1,
1979
$5,000.00