HomeMy WebLinkAbout0109_0001ORDINANCE
AUTHORIZING THE ISSUANCE OF INTEREST
BEARING CERTIFICATES OF OBLIGATION
THE STATE OF TEXAS §
COUNTY OF WILLIAMSON §
CITY OF GEORGETOWN §
WHEREAS, the City Council deems it advisable to issue
Certificates of Obligation in the amount of $300,000 for the
purpose of paying, in whole or in part, contractual obliga-
tions for purchase of right-of-way for streets; to -wit:
Leander Road and Lakeway Drive, and to pay all or a portion of
the engineering, legal and fiscal fees in connection with this
project; and
WHEREAS, the Certificates of Obligation hereinafter
authorized and designated are to be issued and delivered for
cash pursuant to Article 2368a.1, V.A.T.C.S.; and
WHEREAS, the City Council has heretofore, on the 8th day
of November, 1983, passed an ordinance authorizing and direct-
ing the city secretary to give notice of intention to issue
Certificates of Obligation; and
WHEREAS, said notice has been duly published in the
Williamson County Sun, a newspaper of general circulation in
said City, in its issues of November y, 1983 and November
1983; and
WHEREAS, the City received no petition from the qualified
electors of the City protesting the issuance of such Certifi-
cates of Obligation.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
GEORGETOWN;
Section 1. AMOUNT AND PURPOSE OF THE CERTIFICATES OF
OBLIGATION. The certificate of obligation or certificates of
obligation of the City of Georgetown (the "Issuer") are hereby
authorized to be issued and delivered in the aggregate princi-
pal amount of $300,000, for the purchase of right-of-way for
streets; to -wit: Leander Road and Lakeway Drive, and to pay
all or a portion of the engineering, legal and fiscal fees in
connection with this project.
Section 2. DESIGNATION OF THE CERTIFICATES OF OBLIGA-
TION. Each certificate of obligation issued pursuant to this
Ordinance shall be designated: "CITY OF GEORGETOWN, TEXAS
CERTIFICATE OF OBLIGATION, SERIES 1983", and initially there
shall be issued, sold, and delivered hereunder a single fully
registered certificate of obligation, without interest cou-
pons, payable in installments of principal (the "Initial
Certificate of Obligation"), but the Initial Certificate of
Obligation may be assigned and transferred and/or converted
into and exchanged for a like aggregate principal amount of
fully registered certificates of obligation, without interest
coupons, having serial maturities, and in the denomination or
denominations of $5,000 or any integral multiple of $5,000,
all in the manner hereinafter provided. The term "Certif-
icates of Obligation" as used in this Ordinance shall mean and
include collectively the Initial Certificate of Obligation and
all substitute certificates of obligation exchanged therefor,
as well as all other substitute certificates of obligation and
replacement certificates of obligation issued pursuant hereto,
and the term "Certificate of Obligation" shall mean any of the
Certificates of Obligation.
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