HomeMy WebLinkAbout0203_0018BE IT RESOLVED by the city Council of the city
of Georgetown, Texas:
lst. That an election shall be held on the 21st
day of July, ". D. 1936, at which election the following
question shall be submitted:
*Shall the City 0nuneil of the City of Georgetown,
Texas, be authorized to issue revenue bonds of
the said vity in the amount of sixty thousand
(460,000.00) dollars, maturing, over a period not
to exceed 20 ears bearing inter•;st at a rate not
to exceed M -TI four and one-half per cent payable
semi-annually, for the purpose of improving its
existing electric light plant and power system, m d
provide for the payment of Ir incipal and interest
on the said bonds by pledging the net revenues from
the operation of such plant and system to the extent
of six hundred (4600.00) dollars per month, out
of each month's gross income, and further supporting
and securing the payment of said bonds and interest
by placing a mortgage on the said present electric
light and power system and improvements thereto,
in accordance with law, to the extent of the said
amount specified; provided that the holders of said
bonds shall never have the right to demand payment
out of any funds raised and to be raised by taxations."
2nd. That the said election shall be held at
the City Fire Otation within the said City, with the following
election official, to -wit, g. R. Chritzberg, Presiding Judge.
3rd. That the said election shall be under the
provisions of and in accordance with the laws of the `'tate
of Texas governing the issuance of municipal bonds in cities
and towns, and only qualified electors who own taxable
property in the State and County and this City and who have
duly rendered the same for taxation shall be qualified to vote
at said election, and all such electors shall vote in the
election precinct ofthis city, in which they reside.
All voters who favor the proposition to issue the
said bonds shall have written or printed on their ballots the
following words:
"FOR THE ISSUANCE OF LIGHT PLAYT !2%'D POSER SYSTEM
REVMTUE BONDS".
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