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HomeMy WebLinkAbout0213_0028or not the &aid City shall Issue revenue bond* in the sum of Sixty Thousan& (4600000*00) Bollars supported only by a mortgage placed on the existing system and Us improvements to be ©orstraeted axA by a pledge of sin hundred ( 600*0©) dollars out of each month's gross Ineome of the said elaetrie light Olsten of the said City for tie purpose of financing the said Improvements; and that the said bonds be In no wise supported by an ad-valorea tax on property of the said Cityl THERMRB e BE If R7SCIVED by the City Council of the city of Georgetown, Texans Into, That an election shall be held on the fist day of July„ A* Dir 1936, at which election the following que ntiron shall be submitteds "Shall the City Counoil of the City of Georgetown,, Texas,, be authorized to issue revenue bonds of the said City in the arount of sixty thousand ( 64,©00*04) dollars, maturing„ over a period stot to ezoeed 20 years bearing Interest at a rate not to exceed (4j) four and one -halt per sent ;payable semi-annuall.,y o for the purpose of improving its existing •lootrie 11,;ht plant and ponmr systems, and provide for the payment of principal ank interest on the said, bonds by pledging the net revenw s 'xion the operation of such plant anA system to the extent of six hundred (:604.40) dollars per month, out of each month's groes laoonw, wA further supporting and securing the payment of said bonds and interest by placing a mortgage on the said present sleetris light and power system and improvements thereto„ int a000rdance with lam, to the extent of the asib amount spaifioiLl provided that the holders of said bonds shall nevir have the rift to demand payment out of any fps raised and to be reieedd by taxa tIn ne** a10