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ORDINANCE NO. 77-7
STATE OF TEXAS
COUNTY OF WILLIAMSON
CITY OF GEORGETOWN
On this the 12th day of April, 1977, the City Council of the City of Georgetown
Texas, convened in regular session at the regular meeting place thereof in the City
with the following members present, to wit:
JOHN C. DOERFLER, Mayor
HARRY L. GOLD
D. W. SCOTT
WILLIAM C. SHELL Councilmen
KENNETH OLSON
CARL J. DOERING
W. L. WALDEN City Secretary
and the following absent: NONE, constituting a quorum, when the following , among
other proceedings, were had:
Councilman Shell introduced a proposed ordinance which was read in full.
Councilman Gold moved that the rule requiring ordinances to be read at more than
one meeting be suspended. The motion was seconded by Councilman Scott. The
motion carried by the following vote:
AYES: Councilmen Shell, Gold, Scott, Doering, Olson;
NO ES: None.
Councilman Shell moved that the ordinance be possedfinally. The motion was
seconded by Councilman Doering. The motion carried by the following vote:
AYES: Councilmen Shell, Gold, Scott, Doering, Olson;
NOES: None.
The Mayor announced that the ordinance had been passed finally.
The Ordinance is as follows:
AN ORDINANCE
BY THE CITY COUNCIL OF THE CITY OF GEORGETOWN, TEXAS, AUTHOR-
IZING THE ISSUANCE OF CERTIFICATES OF OBLIGATION OF SAID CITY
IN THE TOTAL PRINCIPAL AMOUNT OF $250,000; FOR THE PURPOSE OF
CONSTRUCTING IMPROVEMENTS TO THE CITY'S WATERWORKS SYSTEM,
PRESCRIBING THE FORM, TERMS AND CONDITIONS OF THE CERTIFICATES OF
OBLIGATION AND THE FORM OF THE INTEREST COUPONS; LEVYING A
TAX AND PLEDGING THE REVENUES OF THE CITY'S COMBINED WATER-
WORKS, SEWER AND ELECTRIC LIGHT SYSTEM TO THE PAYMENT OF PRIN-
CIPAL OF AND INTEREST ON SAID CERTIFICATES OF OBLIGATION AFTER
DEDUCTION OF REASONABLE EXPENSES OF OPERATING AND MAINTAIN-
ING SAID COMBINED SYSTEM: PROVIDING FOR PARITY CERTIFICATES OF
OBLIGATION; PROVIDING FOR THE OUTSTANDING BONDS TO BE OF
SUPERIOR LIEN AND ALSO FOR THE ISSUANCE OF FUTURE BONDS OF
SUPERIOR LIEN; MAKING CERTAIN CONVENANTS; ENACTING PROVISIONS
INCIDENT AND RELATING TO THE SUBJECT AND PURPOSE OF THIS ORDIANCE;
CONFIRMING THE SALE OF THE CERTIFICATES OF OBLIGATION; AND
DECLARING AN EMERGENCY.
WHEREAS, each and all of the members of the City Council of the City of Georgetown,
Texas, was duly and sufficiently notified, officially and personally, in advance, of
the time, place and purpose of this meeting, and proper notice of this meeting has been
duly and timely posted as provided by law; and
WHEREAS, the City Council finds and determines the advisability and necessity
of constructing improvements to the City's waterworks system and that some is an authorized
need and said City has the requisite power and authority to do same and desires to
issue interest-bearing certificates of obligation to be sold for cash, under the provisions of
Article 2368x.1, Articles 1111-1118, VA.T.C.S., as amended, and the Charter of
said City for the purpose of paying all or a portion of the contractual obligations to be