HomeMy WebLinkAbout0202_0017Rj',1,S0LUTION CSF' `l'H.; CITY COLITCIL OF TFM CITY
OF GEOI ((PrI OV`.11T, I'"E AS, CALL114G .And ORDERING AN
ELECTION Or =3 Qj)**,STION OF T£1"3 I33U�JICE OF
SIXTY T??k)TJSI�ID (:�uU,i700.00) DOLLARS OF REV`-TITT.'E
BJ DS FOR THi4 I UiiPo3E OF Ix :FRCOVI*TG THE
p 3L,,h'T ELf C' Iu LIGET PUNT SYSTEM OF T1 SAID
O I'I'Y OF Gr3O'? G 5'"10WN .
'REAS, it has heretofore been decided by the City
Council of the 4ity of Georgetown, Texas, that a necessity
exits for the improving oL the present electric li&,ht plant
and system of the said city, end in pursuance thateto an
election was ordered air! held for the purpose of determining
whether the said Citi; should issue 1"60,000.00 in revenue
bonds for the said purpose, end at the said election it was
deter,ained that said bonds should be issued, uut that in
giving the notice of the: said election, a mistake was made,
In that the said election was held at a date more than thirty
days after the date of the resolution ordering the sa.rm , and
that by reason thereof a question may be raised as to the
validity of the said. election, AIM ,
1WVFE'1 i,AS, the City Council of the said 0ityie
now of the opinion that it is to the best interestaC the said
City that the said improvements should be made and the said
revenue bonds should be issued for the purpose of improving
the said eleotrio 1-�tt system of the said wity; and is of the
opinion that the question incident to the validity of the
election above mentioned should be eliminated and that another
election should be held for the purpose of determining whether
or not Lhe said City shall issue revenue bonds in the sum of
Sixty Thousand 060,000.00} Dollars supported only by a
mortEege placed on the existing system and the jmprovemGnts
to be constructed and by a pledge of six hundred (;GQU.00)
dollars out of each month's gross income of the said eleatrio
light system oT the said City for the purpose of financing
the said im:1roverients; and that the said bonds be in no wise
supported by an ad -valorem tax on property of the sbid +pity;