HomeMy WebLinkAbout0262_0016AN ORDTNAVCR ATTT-HORTZIN3 TRF 1SST1A1kTC,R OF PONDS FOR THF PURPCiBR
0P' CONSTRUCTI110 A WATERWO}98 PLANT IN THE CITY OF GRORGRTOW_"T j
T_+MAS, AND PROVIDING FOR TRIS LEVY AND COLTZCTION OF A TAR TO PAT
THE INTRRXST AND CREATE A SINKIITC; FUND FOR THE RF.D191PTION OF SAD
BONDS AT MATURITY.
Wkereas, at an election bell for the purpose on the 17th
day of Ostober,A.D., 1910,a majority of the qualified voters,
wke are property tax payers of tke City of Georgetown, Texas,
voting at said election, sustained tie proposition to issue
bonds keroinafter described by a vote of 216 for the issuance of
bonds to a veto of 24 against the issuance of bonds, therefore,
1. Be it ordained by the City Council of the City of
Georgetown,Tezas, tkat tke bands of said City to be called *City
of Georgetown Waterworks Boards, "be issued under and by virtue of
Article 488, Revised Statutes of Te=as, 1895, for the purpose
of constructing a waterworks plant in said City.
2. Said bands shall be numbered consecutively from One to
Tkirty-two, inclasive,shall be of tae denomination of One Tkous-
and 01,000AO) Dollars Back, aggregating the sum of Tkirty-two
($32,000.00) Dollars.
3
#. Tkey skall be dated tke lot day of December,1910, skall
be due and payable Forty years from their date, but nay be re-
deemed at the pleasure of tAe City at any time after Tea years
from tkeir date.
4. They skall bear interest at tke rate of Five per cent
per annum payable semi-annually on the lot day of December and
tke lot day of June of eack year.
5. Principal and interest skall be payable on presentation
and surrender of boom., or proper ooupon,at the office of tke Stats
Treasurer,Austin.Texas, or at the Fourth National Bank,New York,
N.Y., or the Harris Trust and Savings Bank, Ckicago, 111.
6. Said bonds shall be signed by tke Mayor, countersigned
by tits City Secretary and registered by tke City Treasurer, and
tke seal of the City skall be impressed upon each of tkem.
7. Tkes fac-simile signatures of the Mayor and City Secret°-
tary may be litkograpked on the coupons.
8. It is f'urtker ordained by the City Couneil,tkat to par
tke interest on said bonds and create a sinking fund sufficient
to discharge tient at maturity, a tax of Twelve cents on tke One
Hundred Dollars valuation of all taxable property in said City
of Georgetown,Texas,skall be annually levied on said propertwr
and annually assessed and collected until said bonds and latero
est are paid, and said tax is kers now levied for the currentz m
year,and for sack succeeding year while said bonds are outstand-
ing, and tie sa rte skall be annesse:d and collected for tke current
year and annually kerb after and applied to the purposes na-med.
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