HomeMy WebLinkAboutRES 05.18.1936 - Calling an ElectionRESOLUTION
BY the City Council of the City of Georgetown, Texas,
calling an election on the question of the issuance
of SIXTY THOUSAND (f 60,000.00) DOLLARS of Revenue
Bonds, for the purpose of improving the present Light
Plart System of the City of Georgetown.
WHEREAS, there is a necessity of improving the present
light plant and power system of the City of Georgetown, Texans
and,
MZREAS, it is considered to be to the beet interest
of the City of Georgetown that necessary improvements be financed
by the issuance of securities supported only by a mortgage placed
on the existing system, the improvements to be constructed,, and
by a pledge of net revenue from the operation of such system, to
the extent of SIX EMMRED (.6w60000) DOLLARS out of each month s
gross income from the operatl,on of said light plant and power
system, and in no wise supported by an ad valorem tax on property
1n the City; ends
wUREAS, the City Council of the City of Georgetown,
Texans deems it advisable to issue Revenue Bonds of the said City
for the purposes hereinafter mentioned;
THER "FORE,,
BE
IT RESOLVED
AND O RUER1,M BY THE CITY
COUNCIL OF THE CITY
OF
GEORGETOWM9
TEXASt
1. That an election be held on the 23rd day of JUne,
A. D. 1936, at which election the following proposition shall
be submitteds
•SHALL the City Council of the City of
Georgetown, Texas, to authorized to issue Revenue Ronda of
said City in the amount of SI= THOU63AND (.',*'600000.00)
DOLLARS, maturing over a period not to exceed 20 years
AZ
bearing interest at the rate of not exeeeding r cents
payable somi-annually, for they urpose of improving its
�-A
13
existing light plant and power system, and to provide for
the payment of principal and interest on said bonds by
pledging the net revenues from the operation of such light
plant and power system to the extent of SIX FIMRED,
($dt O*00) out of each sonth*s gross income, and further
supporting said bonds by placing a mortgage on the present
system and Improvements thereto in accordance with law,
to the extent of said amount specified) provided the
holders of said . bands shall never have the right to demand
payment out of any funds raised and to be raised by
taxations."
g. That ,said election shall be held at the
following place in the said City„ and the following named
person is hereby appointed manager thereof, to -wits
At the City Fire Station within said City* with
the following election official:
/? .
„JJ Presiding Judges
a. That said ele:c t ion shall be under the provi s ions
of and in accordance with the laws governing the issuance of
municipal bands in cities and towns, as provided in the general
laws of Texas, and only qualified electors who own taxable
property, in the State, County and City, and who have duly
rendered the same for taxation,, shall be qualified to vote, and
all such electors shall vote in the election precinct of said
City*
ALL VOTRRS who favor the proposition to issue the
said bonds shall have written or printed on their ballots, the
following wordet
"FOR VR I',SUA14CR OF LIGBT PLANT A M
POWER MYrIM REVEIME BONDS*"
And those opposed to the proposition to issue the
said bonds shall have written or printed on their ballots the
words
*AGA INST THE IsmAnn OF LIGHT
FLATS AND POWER SYSTEM REVEM
8a1+tW**
4* A oopy of this order signed by the rayor of said
City and attested by the City Secretary shall serve as a proper
notice of said election.
The Mayor is authorized and directed to cause this
Notice of the election to be posted at three public places
within said City for at least thirty full days prior to the
date of said election*
be The mayor is further authorized and directed to
cause this notice to be published in some newspaper of general
circulation published in said City once a week for four weeks,
The date of the first publication shall not be less than
thirty full days prior to the data of said *loot #on*
PASSED AND APPROVED* this the 18th day of pay,, A. D.
1S3d:
r ` RAYOR 9 CITY OF GEORGETO` N 9 TUA ` •
A i'T'ES'Ti.
tear -a ary, city or Georgetown.
Texas*
,s