HomeMy WebLinkAbout0254_0069"A3 CADIS,*tNCZ establishing rates to be charged
by the 'Electric Lig
ht.t 11ant and Power System of
t%j.st City of Georgetown, Texas; trAeting provisions
incident and relating to the subject and purpose
hereof; repealing all srd►li-war►ces and parts of
ordinanose in eonfl.iet; and declaring an emerr-
gencay."
RIAS, heretofore, to—wits on tine 18th
dsy of August* 1926* the City Council Of the City Of € 6Orgetown,
fexang adopted that certain ordinance entitled;
*AN ORDIUNCE by the City Council of the City of
gorge tiik,n* Texas* authorizing the issuance of bands
In the principal mija of 3 55*000.00* designate& as
'CITY (#? Gaaha.'�i`0*9 ZIXCTRIC LIGHT REVENUE BONT '
for the purpose of improving the City I's electric
light plant an& power systom; prescribing the fans
of blind, and interest coupon; providing that said,
bands shall be payable from the revenues of the
City's electric light plant and, power system, and
further staou red by a mortgage on the City's entire
elretrie light plant and power system and the net
rtvemws to be derived. from the operation thereof;
♦naeting provisions incident and neesssa.ry to the
subject axA purpose of this ordinance; and, delari.ng
an 404 rgen ew o #
AAD WIIERXAS9 it is expressly provided in said
ordinanee that so long as said bond $ shall be acts tan+i9.ng *n&
unpaid$ the City Council aball Pias and vaintafn rates and collect
charges for the facilities arA services afforded by its E.eetarie
Light Plant and, poorer System, whiah will provide revenues su.ffi—
eient at all times to pay for all operation, maintenance, depre-
elation„ replacement and betterment charges of the said. Eleetrise
Light Plant a -at lower System* to establish and maintain the
Special raid created la respect of the aforesaid bonds, ardt to
pay all outstanding Indebtedness against its said Kleotris Light
Plant arc$ Power System, other than the said bands,, as and *hen the
ease becomes dual and,
R te„ this Council, upon due advice and inves—
tigation
„ has :ascertained and detarmin l that the rates herein
prescribed are and will, be sufficient for the purposes hereinabove
statedl, therefore,
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