HomeMy WebLinkAbout0005_0003ORDINANCE 84--40
ORDINANCE AUTHORIZING THE ISSUANCF.OF REVENUE BONDS
THE STATE OF TEXAS
COUNTY OF W I LL I AhISON
CITY OF GEORGETOWN
WHEREAS, all the bonds hereinafter authorized were .law-
fully and favorably voted at an election duly held in said City
on February 25,..1984;" and
WHEREAS, the City Council of said City deems it necessary
and advisable to authorize, issue, and deliver an installment
or series of bonds; and -
`WHEREAS,"THE City received no petition from the qualified
electors of said City protesting the issuance of such revenue
bonds; and
WHEREAS, the bonds hereinafter authorized and designated
are to be issued and delivered pursuant to Vernon's Articles "
1111 through 1118; and
BE IT ORDAINED B'z.., THE CITY COUNCIL OF THE CITY OF
GEORGETOWN:
Section I . J AMOUNT AVID PURPOSE OF THE BONDS. The bond or
bonds of the City of Georgetown (the "Issuer") are hereby au
thorized to.be issued and delivered in the aggregate principal
amount of $2,400,000, for the purpose of improving and extend-
ing the Issuer's Waterworks System, to -wit: Water Treatment
Flant and Transmission Lines.
Section 2. DESIGNATION OF THE BONDS. Each bond" issued
pursuant to this Ordinance shall be designated: ' "CITY OF,
GEORGETOWN, TEXAS UTILITY SYSTEM REVENUE, BOND, SERIES '1984'x,:
and initially there shall be issued,, sold, and delivered here-
under _a single fully registered bond, without interest,' coupons,'
payable in installments of principal ,(the "Initial Bond"), but
the Initial Bond may be assigned and transferred and/or con
!verted into and exchanged for a like aggregate principal amount
of fully registered bonds, -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 "Bonds" as used in' this Ordi-
nance shall mean and include collectively the Initial Bond and
all substitute bonds exchanged therefor, as well. as all other
substitute bonds and replacement bonds issued pursuant hereto,
and the term "Bond" shall mean any of the Bonds
Section 3. INITIAL DATE DENOMINATION NUMBER MATUR -
,. I
`TILS, INITIAL REGISTERED OWNER, AND CHARACTERISTICS OF THE INI
(TIAL BONT). (a) The Initial Bond is hereby authorized to be
issued,,sold, and delivered hereunder as a single fully regis-
tered Bond,
egiatered°Bond, without interest coupons, dated July 15, 1984, in
the denomination and aggregate principal amount of $2,,000,0000
numbered R-1.payable in annual installments ofprincipalto
the initial registered owner thereof, to -wits
or to the registered assignee or assignees of said Initial Bond
or any portion or portions thereof jin each case, the "regis-
tered owner"), with the annual installments of"principal of the
Initial Bond to be payable 'on the dates, respectively, -and in
the principal amounts, respectively, stated in the FORM OF INI-
TIAL BOND set forth in this Ordinance.