HomeMy WebLinkAbout0315_1941-1AN ORDINANCE OF THE CITY OF GEOR(ETOWN, TMS, AUTHORIZING
THE ISSUANCE OF BONDS IN THE PRINCIPAL SUM OF TAY -FIND THOUSAND
($251000.00)DOLLARS9 TO BE DESIGNATED AS CITY OF GEORGETOW AIR-
PORT BONDS, FOR THE PURPOSE OF RAISING =M WITH WNa CH TO ACQUIF.E
AN AIRPORT FCR TIM SAID CITY AND PRESCRIBING THE TERMS M CaTDI- -
TIONS OF THE SAID BONDS AND bF THE ODUPOKS ATTACHED TH.� T0, AND
PRESCRIBING THE FORM OF SAID BONDS AND COUPONS, AND PROVIDING THAT
THE SAID BOITDS AND COUPOYS SHALL BE PAID FROM REWZ=S DERIVED FROM
TAXATION AND LEVYING .A TAX TO PAY SAID BONDS MID COUPONS AS THEY
MATURE, M DECLARXN G AN MMGENCY s
, under and by virtue of an Ordinance of the City of
Georgetown, Texas, duly passed on the 18th day of August! A. D.
19419 an election was held in and for the said City on the 15th
day of September, A. D. 19419 and that at the said election the
qualified voters therein authorized the issuance of the herein-
after described Bonds, in a sum not to exceed $409000.001 and
SEAS, the City Council of the said City deems it advisa»
ble to issue the said Bonds to the extent of Twenty -Five Thousand
$25,000.00) Dollars, bearing interest from date at the rate of 3%9
represented by coupons attached thereto„ said Bonds maturing serial.•
ly, and being in the principal sun of One Thousand($1000.00)Dollars
each, as more fully hereinafter set out, THEREFORE=
BE IT ORDAIhTED BY THE CITY COUNCIL OF THE CITY OF GEORGETOTT,
TEXAS t
Section 1. That in order to 'borrow the said sum of Twenty -Five
Thousand($251000.00)Dollars, for the purpose of acquiring an Air-
port, to be owned by said City, the City Council of the said City,
by virtue of authority conferred by the qualified electors of the
said City, at the election heretofore mentioned, and in pursuance
to the General Laws of the _ State of Texas , hereby provides for the
issuance of a series of Coupons Bonds, to be designated, a CITY OF
GEORGETOWN AIRPORT BONDS", payable from revenues raised by taxation,
and hereby provides for the payment of the said Bonds and interest
coupons as same shall mature.
Section 2. That the said Bonds shall be dated September 16th$
1941, and shall be numbered consecutively from One (l) to Twenty-five
(25), and shall bear interest from date at the rate of three(3%)
per cent per arum, payable the 16th day of March, 1942, and the
16th day of September, 19429 and on the 16th day of March and the 16th
day of September of each and every succeeding year thereafter until
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