HomeMy WebLinkAbout0194_0009Texas, calling an 4140tiou an tbo question
of Ismuaance of SIXTY TH(,,USA UD 1( 609004.00)
DOER fu? Retieam.;s BonAf s for the pw.rpoee of
improving the present light plant &yetem of
Uto City of 4sorge town.
lEi MW e, thsre Is a necessity of improving the
present light p1biat an& power system of the City of Geor,getownte
Texas, an&*
RI S, it is considaers& to to to the best
interest of the City of Georgetown tLat xwoes"ry Improvvmexnts
be finance& by the issacaaaoe of securities supportel only by
a mortgage playas& an the existing system,, the Improvements
to be oonstracto&* tae& by a pledge of not rete nus s from the
operation of suoh sys tes s, to the extent of SIX nunnim (1,4g40* 00 )
DOLLARS out of saoh month's gross income from tits operation of
said light plant an& power systems, ant in no wise supports&
by an ad, valorem tax on prpparty In the City i an&,
WHEREASs, the City Council of the City of Goon«rgetowns,
Texas, risme It advisable to issue Revenue Bonds of the sai&
City for the purposes be rs inaf tsw me ntione b l
TRLREFCRls, BR IT RESOLVED AND CRDMM BY TRR
CITY COUNCIL OF THE CITY' OF GEDRGETMO 'EUSt
SECTION It That an election be hel& on the 23r&
kay of Jura*, A* Dr 19:66# at thioh election the following pro-
position
rop•position shall be submit tett
"S "ALL the City Council of the City of
deorgo tovrm,, Texas,, be snthaalriset to isms Revenue Bones
of sat& City in the amount of SIXTY TROUSAND (t600000*00)
DOLLARS, maturing serially oyer a period .not to exec*&
Ra y#ares bearing interest at ihs rate of not exceeding
4j per cent, payable somi—annually, for the purpose of
Improving its existing light plant +aaa& power &yetem,
and to provide for the payment of principal and interest
of said bonds 1 pledging the net revenues from the
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