HomeMy WebLinkAbout0199_0014RESOLUTION
BY the City Council of the City of Georgetown, Texas,
calling an election on the question of the issuance
of SIXTY THOUSAND (f 60,000.00) DOLLARS of Revenue
Bonds, for the purpose of improving the present Light
Plart System of the City of Georgetown.
WHEREAS, there is a necessity of improving the present
light plant and power system of the City of Georgetown, Texans
and,
MZREAS, it is considered to be to the beet interest
of the City of Georgetown that necessary improvements be financed
by the issuance of securities supported only by a mortgage placed
on the existing system, the improvements to be constructed,, and
by a pledge of net revenue from the operation of such system, to
the extent of SIX EMMRED (.6w60000) DOLLARS out of each month s
gross income from the operatl,on of said light plant and power
system, and in no wise supported by an ad valorem tax on property
1n the City; ends
wUREAS, the City Council of the City of Georgetown,
Texans deems it advisable to issue Revenue Bonds of the said City
for the purposes hereinafter mentioned;
THER "FORE,,
BE
IT RESOLVED
AND O RUER1,M BY THE CITY
COUNCIL OF THE CITY
OF
GEORGETOWM9
TEXASt
1. That an election be held on the 23rd day of JUne,
A. D. 1936, at which election the following proposition shall
be submitteds
•SHALL the City Council of the City of
Georgetown, Texas, to authorized to issue Revenue Ronda of
said City in the amount of SI= THOU63AND (.',*'600000.00)
DOLLARS, maturing over a period not to exceed 20 years
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bearing interest at the rate of not exeeeding r cents
payable somi-annually, for they urpose of improving its
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