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HomeMy WebLinkAbout0088_0012AN ORDINANCE OF THE CITY OF 01.ORG1101AN, TIAAS, AUTHOLIZING TIM ISSTJIW OF BUNDS OF TT3 SAID CITY, IN M, FTilRCIFAL SUM OF S4b,000.00, TO BE DAIED JANUARYlST . 1926, AM TO Bt' Ili Dl%�KINATIUIIS OF 000.00 LACH, AND TO ID, 1UkBi,iY.D,Fh0V AND IbCLUSINN, U?,N TO MALTY. AND TO .2 DU1s SLRIALLY TIMEN XAaN YhAll IN THEIR NUI?1 R1CAL OhDIM, BI -GINNING 0ITH NUi,I3I.hS Vhlr, TWO AND TIUaa ON JANUARY I,ST, 1927, AD TNU3 CUh1 INU]N d T11,11, LACH YLAR Fi-O K SAID DATE. IN MIR NUVERICAL OWER UNTIL In I.MITS SLItILS AAS B?3Jt 1;AID; EACH OF THE SAID BUNDS '3O BF3AR IITMiUST VRUIt DARN AT FIVE FlsR CLI -T 1199 AWNUM. 1AYABLB : M61-0VU i.LLY (A T Iik..18T DAY OF JULY AM JANUARY; IETN' ST TU B!i; LVISJI^ &CED BY CUUk'UTM, I3lialI G INSEMST AFT3sk MATURITY AT TEL SAM RAT%. A TAX GF FIFThIN CI.NTS CM RACH $100.00 VALUATIuN LF IR6 ;,°RTY IN SAID CITY TO BIS UVDD AND CUL- LLCTED TO IAY fRINCII-AL Ahs? INIESkYST AS IT ?AMIS. IFIL 1ROC11'.D3 FUJI 'xhL IALZ OF SAID BU14DS TO M U.%.D IN TIS 1?AVINGi, DRAILING, BUILDING, INI,ItUV ING .011 NINO AND li IDhhI Iia : Ti:. ET S IN I M SAID CITY. It CLARING AN IJ& W.NCY. Shereas, at an election held in the said City of Georgetown, Texas, on the 30th day of bovember, A. D. 1925, a majority of the quali- fied voters, who were property tax ;.ayers of the said city, 'voting at t1te said election sustained the proposition to issue the bonds bar*. in deroribed for the principal sum of $45,000.00, by 232 affirmative votes for, and against 163 negative votes; carrying said election by a majority of 69 votes for the issuance of bonds: TIC-REFUkE , BE IT OFDAINID BY THE CI TY C UUN0 4 OF IRB CITY OF (11 UIGL T U'6 N, TEXAS Section 1. Tiat bonds of the said City to be called 'City of GeorEetown Friving Bonds" be issued under and by virtue of the o©nati- tution and laws of the State of sexas, and the previsions of this or- dinarioe, for the purpose of paving, draining, building, improving, or peeing and widening streets of the said City, in the principal sun of Forty Five Thouaand(450000.00)Lollarso section 2. That the said bonds shall be in denominations of $5UO.00 each, and shall be numbered consecutively from ons* to ninety, inclusive, and each shall be dated January lat. A. D. 1926. Section 3. That the said bonds shall be due and payable ser• sally, three each year, in their numerical order, beginning with num- bars one, two and three, on the let day of January, A. D. 1927., and continuing three each year from laid date, in their numerical order until the entire series has been paid; the said bonds being thirty year serial bonds. Section 4. that -tbe said bonds shall bear interest from date at f ire per cent (5%) per annum, payable semi-ar,r,ually on the let day of July and January of each year. That the said in/ereet is to be evi. danced by coupons that shall bear the same rate of interest from their maturity. Section 5. That the principal and interest on the said bonds &hall be paid on the presentation and surrender of bord or coupon,, at the office of the State Treasurer, at Auatin, Texas, or at the kochaniofs and Vetals National Bank* in the City of New 'York, at the option of the I{older. 13