HomeMy WebLinkAbout0096_0028A N 0 R D I N A N C E.
Adopting the provisions of Article 471 et seq., Revised Statutes of
Texas, 1895, and authorizing the issuance of bonds for the purpose of
canceling and in lieu of certain bonds heretofore issued by the City of
Georgetown, and providing for the levy and collection of a tax annually
and of sufficient amount to pay the annual interest and to create a sink-
ing fund with which to pay said bonds at maturity.
Whereas, the City of Georgetown, Texas, has heretofore issued and
delivered the bonds hereinafter described, which said bonds are out-
standing and constitute a valid and subsisting indebtedness of said
City; and
Whereas, said bonds are now optional, and the City desires to refund
the same by issuing new bonds bearing a lower rate of interest;
Therefore, Be it ordained by the City Council of the City of George-
town, Texas:
1, That Article 471 et seq., Revised Statutes of Texas, 1895, be
and the same are hereby adopted.
2. That the bonds of said City to be called "City of Georgetown Re-
funding School House Bonds" be issued under and by virtue of said Arti-
cle 471 et seq,, for the purpose of refunding, canceling and in lieu of
certain outstanding bonds of said City known as "Public School Building
Bonds," dated July 16, 1894, numbered from 8 to 21, inclusive, aggregat-
ing $14,000.
3. Said bonds shall be numbered consecutively from 1 to 14, inclu-
sive, shall be of the denomination of One Thousand ($1,000) Dollars
each, aggregating the sum of Fourteen Thousand ($14,000) Dollars,
4. They shall be dated the 16th day of August, 1905, shall become
due and payable thirty years from their date, but may be redeemed at the
pleasure of the City at any time after rive years from their date, pro -
Ali