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HomeMy WebLinkAboutORD 06.10.1935 - Issuance of BondsA:A OhDDA.NCE kUTHUHIZI G THE ISSUANCE OF $66,000.00 Cl2Y OF GEORGETOWN, TEI t�S STREET REFUIv:UIIrG 30"I'DBY , la'0Fi TL'E PURPOSE Ol,' REr'U_1DING jx LIK"E k WUNT OF CITE 02 GEOt G T'OWN, TEXAS, ST?L;ET 30z3DS, WLTED JVC_ h 1ST, 1922: LEV_'I'idG A T1Li TO PAY T'HE 02 Sil!D i 27 _L)11:,G :30_IDS, .�ldll DECLARI 'dG tld LiV" BRGE'"jCY. WHI,.hEAS, tha-r. a are now outstanding certain legally issued Street Bolds of the City of Georgetown, Texas, dated June 1st, 1922 which were authorized and issued in all respects in accordance witu an in conforiity to the Constitution and laws of the State of Texas; and ._HERE�S, the City of Georgetown has exercised its option to call in said bonds for redemption, and has given notice as required in the face of said bonds, of its intention to redeem said bonds on the First day of July, 1935 and: �til Eti ;t�S, mere is on hand anc.1 to t_ .e credit of the Sinking Fund of said bond issue a sxl sufficient to pay the interest on said 0onds and red:�em $8,000.00 of the principal t-lereof ; and LdPERE��S, the City, Council of the amity of Georgetown finds t1-1at it is desirable a _d to t"i_s best financial interest of said City 66 issue new bonds in the aggregate amount of ,�66,000.00 for the purpose of refunding, canceling and in lieu of the remainder of said boncis; THERLYO E" r3.� I'T URllAI'dE.� -3':ti 'iii CI_''Y COUd�IL UI+, '-'ice CI'1"� Ut Gr;UtGETU6'yTV Section 1 T.at bonds of said Cit;;, to be called "CITY OFGEORr�L`TUl'1Id� TEir1S STRE_jTr�Er'U'"f �I-iG 13U="i1�S, _----_ ---5 be issued under and bTr virtue of the Constitution and latrrs of the State of Texas, to t _e ailo .nt of ;)I1;TY SIB TrOUS:�ill llU�_%iRS, (.466,000.00), for the purpose of refunding, canceling, and in lieu of a like az­io-nt of legal iy issued and outstanding bonds, w ich are valid obligations of the City of Geor;etown, Texas, and particularly described as follows: S City of Georgetown, Texas Street Bonds, dated June 1st, 1922 due forty years after date, optional ten years after date, bearing interest at the rate of five per cent per annum, and being sixty-six bonds, of the denomination of z,�'1,000.00 each, of an original issue of eighty five bonds, authorized by an ordinance passed by the City Council of the Oity of Georgetown on the day of , 19 , which is recorded in the .inutes of said Council. The numbers of the 'ity of Georgetown Street bonds described above which are to be refunded are as follows: Bonds numbers 11-37 inclusive ,43-44 inclusive, 47-54 inclusive, 56-70 inclusive, and 72-85 inclusive being a total of sixty six bonds of the denomination of 51,000.00 each, aggregating sixty-six thousand Dollars. Section 2. That said 'Street Refunding Bonds shall be numbered consecutively from one (1) to sixty-six (66) inclusive, shall be on the denomination of One Thousand Dollars, ($1,000.00), each, aggregating said sum of Sixty-six thousand Dollars, ($66,000.00). Section 3. Said Refunding Bonds shall be dated the 1st day of July, 1935, and shall become due and payable serially as follows: KIM I1UI,3ERS DATE OF .1LITURITY Ai:OUNT 1 July 1, 1936 $1,000.00 2-3 inclusive July 1, 1937 2,000.00 4-6 inclusive July 1, 1938 3,000.00 7-8 inclusive July 1, 1939 2,000.00 9-10 inclusive July 1, 1940 29000.00 11-12 inclusive July 1, 1941 2,000.00 13-14 inclusive July 1, 1942 2,000,00 15-16 inclusive July 1, 1943 2,000.00 17-18 inclusive July 1, 1944 2,000.00 19-20 inclusive July 1, 1945 29000.00 ,U-22 inclusive July 1, 1946 29000.00 23-24 inclusive July 1, 1941 29000.00 25-26 inclusive July 1, 1948 2,000.00 27-28 inclusive July 1, 1949 2,000.00 29-30 inclusive July 1, 1950 29000.00 31-36 inclusive July 1, 1951 69000.00 37-38 inclusive July 1, 1953 29000.00 39-40 inclusive July 1, 1953, 39000.00 41-42 inclusive July 19 1954 2,000.00 43- 44 inclusive July 1, 1955 2,000,00 45-46 inclusive July 1, 1956 2,000.00 47-49 inclusive July 1, 1957 3,000.00 50-52 inclusive July 19 1958 39000.00 53-55 inclusive July 1, 1959 3,000.00 56-58 inclusive July 1, 1960 3,00m0 59-62 inclusive July 1, 1961 4.000.00 63-66 inclusive July 1, 1962 4,000.00 Section 4. The City council affirmatively adjudges that the financial condition of the City of Georgetown will not permit the payment of said Refunding Bonds in such installments as will make the burden of taxation to support the sane approximately uniform, throughout the term of said bond issue, unless it shall be found that the maturities above set out do make the burden of taxation approximately uniform. Section 5, Said Refunding 3onds shall bear interest as follows: Bonds numbers one to thirty (1-30), inclusive shall bear interest at the rate of four percent (4�61) from date until paid and Bonds numbers thirty-one to sixty six (31-66), inclusive shall bear interest *.-r(3= at t_ze rate of four and one-1-1alf per cent (42 ') per annum until paid. Said interest shall be payable semi-annually on the lst day of Januarxrd lst day of -.-July- - _ _ _ _ _ of each year, and shall be evidemed by coupons attached to each of said bonds. Section 6. Sid bonds s' all be ed b the Mayor and countersigned anu egistored by vie City 'Yeasur�rI Y by the City Secretary ` and the corporate seal of said City shall be affixed to each of said bonds, The fac simile signatures of the Mayor and City Sncee.i-g,tU___ may be lithographed, engraved or printed on the interest coupons, and shall have the same effect as if said coupons had been signed by said officers. Section 7. Principal and interest of said bonds shall be payable in lawful money of the United States of America, upon presentation and surrender of bonds or proper coupons at the FIRST NATIONAL BANK IN DALLAS THMK, D, LLAS , T11CAS . ing form ( No. Section 8. Said Refunding Bonds shall be substantially in the follow- ltDoe. ors UNITED STATES OF U ICA TUE STATE OF TEY-kS COUPTTY Or WILLDLiSO1V CITY OF GRQHQjETOt42: , TMUS, _ _ ar:�''Ui�i�I_�G 130ND. _ k-NO`,T ZL =T BY `Ri:Sv FR^aE,TTS: That the City of reor�--etown _ . a municipal corporation, in the County of _' jj-Ldamson _-_ and State of Texas, for value received, acknowledges itself indebted to, and hereby promises to pay to Bearer on the 1st day of July , 19 , the sum of 014E THOUS�ddD DOLLARS in lawful money of the United States of America, together with interest thereon, from date hereof, at the rate of __ __ _ _ -_ - _------- -- (_0') per annum, payable send —annually on the 1st day of January andlst day of July of each year, on presentation nd surrender of the annexed coupons as they severally mature. Principal and interest shall be payable upon presentation and surrender of bond or proper coupon at the FIRST ITLTIOi LL BLllh IN DLLLLS _ D LLIA S, T IDUS. and the City of Georgetown is hereby held aryl firmly bound, :nd its faith and credit, and all real and personal property in said City are hereby pledged for the prompt payment of the principal of this bond, and the interest thereon at maturity. This bond is one of a series of sixty-siX bonds, numbered consecutively from one J) to s,::t -six (6e) inclusive, in the denomination of nne ",•2ousand Dollars _ �1,000.00 ) each, ag- gregating --), issued for the purpose of refunding, canceling and in lieu of a like amount of City of Georgeto,:r_Z Street ,oY, ; _ . -, dated Jiine 1st.. 1922 - - - -- which have been duly canceled by the -proper authorities simultaneously with the issuance of this bond :-nd the series of ,rich it is a part; and in addition to all other rip its the holder or holders of this bond and the series of which it is a part, is and are subro gated to all the ri ght s held by the holders of the original bonds hereby refunded. This bond and the series of 1�ich it is a part is issued under and by virtue of and in strict conformity to the Constitution and laws of the State of Texas, and in pursuance of an ordinance passed by the City Council of the City of - eor.:eto:rn. on the 10th day of June , 1935, which is recorded in the Mlinutes of said Council. The date of this bond, in conformity with said ordinance, is ,TiA y I P , 19 and it is hereby certified and recited that the issuance of this bond, and the series of which it is apart., is duly authorized by law, and that all acts, conditions and things required to be done precedent to and in the issuance of this series of bonds and of this bond, have been properly done nd performed, and have happened in regilar and due time, form 2 and manner, as required by law; that d e provision has been made for levying and collecting annually by taxation an mount sufficient to provide a sink- ing fund for the final redemption of said bonds at maturity, and that the issue of- bonds of which this is one, together with all other indebtedness of said City, is wi thi-ri every debt and other limit is escri bed by the Consti- tution and laws of the State of Texas. I1 'WITNESS 30MEDF the City of =' '-'" ;eto%vn by its City Council, has caused its corporate seal to be hereto affixed, and this bond ind register-1 by its City treasurer to be signed by its Boor =muntersigmd by its City Secret:.ry ;amd the interest coupons hereto attached to be execasted by the printed or lith- ographed signatures of the Mayor and City ;ecret,s- , as of the date last above written, REGISTAMa ::ayor, City of Georgetown, Texas, Countersigned: City 'reasurer, City of Georgetown, Texas. City �Ocretary, City of Georgetown -- Section 9. The form of interest coupon shall be substantially as follows; No.________ , t 08 THE -- Y OF 19 THE CITY OF -1EOx- iETOMN TBUS, promises to pay to Bearer at -- _ - TSB FIRST X TIONAL .A M+ IN ➢ALLAS _ DALLA.S _ Tlu-k i - -- - the sum of --- -- - - - - - - - - Dflw lure ) in lawful money of the United States of America, being six months' interest on CITY OF GEORGETOWN, TES- 6'2hLu T REFUAD114G BUMP.. Z=i4iiiiii 5 Dated I, 19-Z45 City See RerARY Mayor a- Section 10, That substantially the following Certificate shall be printed on the back of each of said bonds: OFFICE OF 002a?TROT.TM STAL OF T_T— ra ci j I M.' MY CERTIFY that there is on file and in my office a certificate of the Attorney General of the State of Texas to the effect that this bond has been examined by him as required by law, and that he finds that it has been issued in conformity with the Constitution and laws of the State of Texas, and that it is a valid and binding obligation of said City of Geor _:;town Texas, and said bowl has this day been registered by me. MT 23SS -.Y IiAM :11D '):a L OF ::Y OFFICy at Austin, Texas, this the day of , 19 35 Comptroller of Public accounts of the State of Texas Section 11. The Comptroller shall not register said bonds except as and. 77hen there shall be surrendered to him an equal amount of City _ _ _ _ _ gi ieor e+,own, ivxaS �tr3et,� ��.. y refunded, as hereinafter directed. Section I& BE IT FURTHER CRDAIi1M, BY 21E CITY COUNCIL OF IME CITY OF rgjQrgpt0jgr that there shall be and there is hereby created a special Rind in the City Treasury to be known as the L.-acing fund for City of Georgetown Street Refunding Bonds __" for the purpose of paying the interest on said bonds and the principal thereof as same become due, which fund shall not be diverted nor drawn upon for any other purpose, and the City Treasurer shall honor no draft upon said fund except to pay interest upon or principal of said Refunding 3ords, or for the investment of said sinking funds, as pro- vided by law. Section 13, That to create said Special Fund, to pay the interest on said refundin- bonds and the principal thereof as same become due, there is hereby levied for the current year and for each succeeding year thereafter while said Refunding :3onds, or aay of them, are outstanding a tax of and at 0 the rate of t .20 or so much thereo f, or such greater rate as may be necessary, on each One Hundred Dollars valuation of all taxable property in the City of rrPorbetoym , and said tax shall be assessed and collected for the current year; and there shall be calculated each year thereafter while any of said bonds are outstanding and .unpaid what rate of tax is necessary to provide current interest and the required amount of principal for such year, and a tax at such rate, within the lawfully permitted rate, shall be assessed and collected during each of said years, and said tax is hereby ordered to be levied, assessed and collected and applied to said purpose. The interest due on said Refunding Bonds on the J,-Lt_ day of January , 19 3 shall be paid out of the funds hereinafter appropriated and set aside out of the special fund created for the original bowls herein refunded. Section 14, IT 13 1T RTEER ORDr,IAu.D that a sum sufficient to pay all interest due Illi NTig?' ! 19 P , on said City of Ueorgetovm, `texas, ,street Bonds , together with 's 8s_000.00 of the principal there- of, be and the same is hereby set aside and held in the Special " ;i u., r; orgetown ­, j _ _ . _ . ___ _ __ _ _ _' for said purpose; all remaining funds OF Tf16 500PS HeRFgy RCFUaDED in said special sinking fundAare hereby appropriated and set aside to the special '} ri�G3S' a _,num ni fir. J; rP. ReI'i�'1diI1g 3onds, �82� _�' 1 C199 fund created for this issue; and all taxes in process of collection for the benefit of said special fund for said original bowls are likewise appropriated to the special fund for this Refunding bond issue. The officers of said City are hereby directed to take such steps as are necessary to transfer said funds to the srecial fund for this Refunding Bond issue; provided, however, that said transfer shall be made proportionately from time to time as and -Mien said original bonds have been actually surrendered in exchange for said Refunding Bonds in such manner that said original bowls not exchanged, if any, will al- ways be protected by proper interest and sinking fund heretofore provided for that purpose. Section 15, IT IS xURZM CLAD JITED that Eli rk . , 1..1ayor, is hereby authorized and directed to take and have charge of all necessary records pending investigation by the Attorney General, and shall take and have charge and control of the Refunding Bonds hereby authorized, pending their 11 approval by the Attorney General. After said bonds have been approved by the Attorney General, the Mayor is authorized to leave the Refunding Bonds in the office of the Comptroller pending exchange for the original bonds, which may be at one time, or in installments; and said Comptroller shall take and hold said Refunding Bonds, unregistered, pending the delivery to him for cancella- tion of th-e original bonds hereby refunded and upon cancellation of same, he shall register an equal amount of said Re - Handing Bonds, and deliver same to the holder or holders of the original bonds so surrendered. Section lo, An imperative public necessity having arisen necessi- tating that the above and foregoing ordinance be adopted forthwith, creating a great public emergency requiring that the rule providing for the reading of an ordiance in open meeting at 3 regular meetings of the City Council be suspended, the same is hereby suspended with the consent of the Mayor and the unanimous vote of all the Alderman of said City, and this ordinance shall be in force and effect from and after its passage and approval. �AisM -�'.HD APPROV30 this the 10th day of June , I9 5 . Smith Mayor, City of Georgetown, Texas ( S7.AL ) Attest: Y, h. Cates. Cit,j >;ecretary , City of Ueorgetown, Texas. TIM STATE OF TEKAS j COUNTY OF 1413 3 1 I, .tit. L. Cates_ ? City Secretary of the City of"aosas, hereby certify that the above and foregoing is a true and correct copy of an ord-inaneepassed by the City Council of the City of Gaergatomna , Texas, on the 1,pth day of .T»na , 19_,jj and of the :Minutes of said Council pertaining thereto, as the same appears of record in 11inute Book . pages of the 11inutes of said Council. I further certify that said ordinance was approved by the Mayor, on the date of its adoption. GIVEEI UlOiD R :,'rY Ht�M ALT SRr.I� OF OFFICE this the I Oth day of .Tune , 19—a5 CityA/&� 9 City o Texas FINANCIAL STATEMM OF THE CITY OF M RtGINOWN# TMAS The following is a oomplete statement of the indebtedness of every ob�araoter outstanding against the City og Georgetown, Texasq on the lot day of June, 1935, KM) TS:M CITY OIL GBORGETOWN ELECTRIC LIGBT BORDS dated, 1910dne 1950 CITY OF 1ORGTsruwn, wA AR 13ORK9 BONDS dated, December 1. 1910 due IL2§g..___.. CITY OF G20RG fOWA, WATER "ORS 30. DS, SEC':?M SERIES dat=d �jg ber 1. 1910 due 1950 _ CITY OF GEORGETOWN RREET BOI9D99 dated_"M 1. dos 14 CITY OF GBORGE'tOWN SMVM BONDS, dated February 1. 1930 due�1' ,000.00 89000.00 19500*00 769000,00 509000.00 CITY OF GEORGffi`0W10 PAVING BONDS, dated 1926 dos ggj:ially 31.5004QO TOTAL, $1699000,00 The taxable values of said City, as shown by the assessment rolls approved for 1934, being the last a oved rolls of .6 said City, &mount to the sum of .<.70 6i0 9G MR STATE OF TEXAS COUNTY OF aLLIANSON I hereby certify that the above statement of the indebtedness of the City of Georgetown Texas is true and correct as shown by the records in my office, and that the taxable values as above given are true and correct m tz as shorn by the assessment rolls of said City approved for the year 1934 being the last approved rolls of said City. WITNM43 MY 1 ND --`:,ND SELL OF SAID 31TY this the tray of June, 1935. City Secretary, City of Georgetown# Texas. I HEREBY ^ESTIFY that the above statement of the indebtedness of the City of Georgetown, Texas, is tore and correct as d2own by the records in my offioe. ,7ITNESS IT7 OFFICIAL SIGNATURE It s the ! d:y of June, 1935. City Treasures, City Georgatown, Texas. 0 OBDINANCZ ADTAORIZING THE I SMANCE OF ,000.00 CITY OF MRGHTONN, TEXAS, STHM R3i+tMI1NG SORDS hOR THE PCMSE OF REIV -- MG A LIZE A .: OF CITY OF GBMGNTOWN, TMXAS, 9MMO BONDSt DATED JtNE 1ST9 19228 LLTYING A TAX TO FAY THE PRINCIPAL AND IMMMST OF SAID REFTMDING BONDS, Alm DECTARING AN E:�G _:CY. S, there a- outstanding certain legally isaued Street Bonds of the City of Geor t , Texas, dated Jane 149 1922 Mich were anthori ed and i in all respeots in as - dance id th and in conformity to the Constitution and 1 - of the Stat of Tezasl and wumt? S, the City of Georgetown has raised its option to call In d boffis for rede--Lion, and Las given notice as required in the face of said bonds of its intention to r said bonds on the First day of July, 1935 ands there is on hand and to the credit of the Sinking Fund of said bond is e a sum sufficient to pay the interest on said bonds ard 0000.00 of the Vrincipal thereofl and WHEREAS$ the City Council of the City of Georgetown find that it is desirable and to the best financial interest of said City to issue bonds in the aggregate amount of ,OOO,00 for the purpose of refunding, can.. calling and in 11 of the remai of said bondsl TEMEFORE DB IT MDAINED BY TIIE CITY C OIL OF THE CITY OF GBORGATOWNs Section 1. That bonds of said City* to be called "CITY OF GEORGETOIN, TEXAS STREM REIRMING BOl®S_ be i sued under aid by virtue of the Gonstitution and la of the State of Texas, to The amount of SIXTY SIX THOUSAND DOLTARS. ($66*000.001, for the parpose of refunding, asnoelling, and in 11 of a like amount of legally issued ant outstanding boffis. ioh are valid abligations of the City of Georgetown, Teza m and particularly described a foil s 13 City of Georgetown, Texas Street Bands * dated June 1 1922 dale forty years after date, optional ten year after date, bearing interest at the rate of five percent per annomo and being sixty-six boils, of the denom• Iastion of $1*000.00 eacht of an original i of eighty fi- bomds, authorized by an ordinance passed by the City Counoil of the City of George• town on the 10th day of April 19221, oh is recorded In the Minutes of said Counoil• The numbers of the City of Georget Street bonds described whiah are to be refunded are as folloass Bonds numbers Ilw37 inclusive. inclusive, 47-54 Inc live, 56.70 :aolusiv:* and 72-65 Ancluel", a total of sixty-six - Is of thedanomination of $1*000,00 sash, aggregating sixty-six thousand dollars. 5actio42. That said street Refunding Bonds shall be numbered Consecutively from one (1) to sixty-six •(66) inclusive. stall be of the denomination of One Thousand Dollars* ($1,000.00), each* aggregating said sac of Sixty-six Thousand Dollara* ($66*000.00). 'action 3. Said Refunding Bonds shall be dated the lot day of July, 1935* and shall become due and payable serially as follow t D ^Z 09 MATURITY AMD' 1 July 19 1936 -g*000.00 2-3 inclusive July 19 1937 20000.00 4.6 Inclusive July 1* 1935 39000.00 7-8 inclusive July 1, 1939 4000 00 9.40 inclusive July 1t. 1940 29000 00 11-12 inclusive July 1* 1941 20000.00 13-14 Inclusive July 1, 1942 29000,,00 15-16 inclusive July 1, 1943 2,000100 17-18 inclusive July 1, 19" 20000.00 19-20 inclusive July 19 1945 20000.00 21-22 inclusive July 1, 19" 139000 00 23-24 Inclusive July 19 1947 29000 00 25-26 inclusive July 1. 1946 29000.00 27-26 inclusive July 19 1949 2,000.00 29-30 Inclusive July 1, 1950 20000 00 31-36 inclusive July 19 1951 6t000.00 37-M Inclusive July 1, 195E 29000 00 39-40 inclusive.. - July 19 1953 29000 00 41.42 inclusive July 1. 1954 29000.00 43-44 inclusive July 1, 1955 29000000 45-46 inclusive July 1* 1956 20000000 47.49 Inclusive July 1, 1957 3.000 00 50.5E inclusive July 1, 1958 39000,,00 53-55 Inclusive July 19 1959 3,000,00 56-48 inclusive duly 1* 1960 39000.00 59M62 inclusive July 1. 1961 4 000.00 63-66 inclusive July 1, 1962 4,000,00 6ectiou 4. The City Council affirmatively adjudges that the financial condition of the City of Georget will not permit the payment of sai nd ing a i � i form, as will the burden of ti on to t the ap / out the of said bond i , unless it shall be found that the naturities above set out do make the burden of taxation approximately uniform Section 5, Said Refunding Bonds dhall bear interest as follows* Bonds numbers one. to thirty (1.30 )* Inclusive shall Interest at the rate of four percent (9%) from date until paid and. Bonds are thirty-one to sixty -adz (31-66), inolu shall bear interest at the rate of four and one. half p.,r cent (4 1 per until paid. Said intere t shall be pay ab *sad- lly on t he 1 at deq of January and lot day of JvI7 of es4h yesr, and shall be evidenoed by ooupons attaabed to each of said bonds* .ction-A Said bonds shall be sighed by the Mayor and counter- signed by the City Secretary and Registered by the-Gity Treasurer, and the corporate seal of said City abo l- be affi to each of said bonds, The fao simile signatures of the r and 01ty aretary y be'litho -raphedg en- graved or printed on the interest ccupone, and shall h the same effect as If said coupons had been signed by said ofglow Principal and interest of said boud s anal 1 be payable In lawful money of the United States of Amsricm4 upon presentation and surrender of bonds or proper coupon at the JJRST SATIQAA.L RUM Ili DALLAWS, DALLA99 TEXAS. ing forma No„j , Section S- Said R ffindlug Bonds shall be substantiall in the follow- WITED STATES OF AMERICA THE ;STATE OF TFyiAS ,CV TT OF WILLZllI+1309 OITY OF OEORGETOWN, TMWq STR-,Er RXIMINDIM BOID r, 019000.00 BEUW ALL MEN BY THESE PRESFXT9b That the City of aeorgetown, a municipal oorpor4;Ion# in the County of Williamson and State of Texas* for value reaeivad, acknowledges itself indebted toe and hereby promises to pay to Bearer on the lot day of July, 19_,0 the mum of ONE, - ' SAND DOLLARS In lawful money of the United States of America, together with interest thereon» fr date hereof, at the rats of _ _ (_ .; per payable semi- amnually on the lot day of January and the let day of July of each year, on presentation and surender of the annesod aoupons as they severally mature. Principal and interest shall be payable upon presentation and surrender of bund or oiler coupon at the FIRST BATIOUL SAM IM DALLAS, DAT-TA39 TICASZ and the City of deorgstoasn is hereby held and firmly bound* and its faith and oredit and all real aid personal property in said City are hereby pledged for the prompt payment of the principal f this bond, and the interest thereon at raster i ty This bond i one of a series of sixty-six bonds, numbered eonseo- utivel- from one (11 to sixty-six (46) inolusive, in the deno tion of One Dollars ($19000000) eaahs aggregating Sixty -Six Than Dollars ($6690OOoOO), Issued for the purpose of refunding, oanceltag and in lien of a like amount of Oity of Georgetown Street Bonds,, dated June lot# 1922, Mich have been duly mueeled by the proper authorities simultaneously with the issuauoe of this bond, and the series of which it is a part; and in addition to all other rights the holder or holders of this bond and the series of which it Is a part, is and are subrogated to all the rights held by the holders of the original bonds hereby refunded., Im This bond and the series of Wh.iah it is a part is issued wader and by virtue of and in strict conformity to the Constitution and laws of the State of Texas* and in purazanee of an ordinance 7issed by the City Council of the City of Geormg tawn on the loth day of June,1935, which is recorded in the Minutes of said Council. The date of this bond, in conformity with said ordinance, is July 1, 19359 and it is hereby certified and recited that the issuance of this bond, and the series of which. it is a just, is duly authorizes: by law, snl that all -acts, conditions and things required to be done precedent to and in the issuance of this series of bonds and of this bond, have been-1voparly done and perfo-rued, and have happened in re.,vlar and due timme, form and manner, its required by law; that due provision has been made for lav-ing and colleCting annually by taxation an amount sufficient to provide a sink;n,: fund for t:e final reds:-otion of said bonds at maturity= and that the isaxe or bonds of which this is one, together with all other iniebtedness of said City, is wi tizin every debt -nAd other limit pres:ribed by the Constitution and laws of the State of Texas. I1T '"ITr33S '.'VM1OF the City of Georgetown, by its City Council, has caused its corporate seal to be hereto affixed, and this bond to be si -nod b,; its :Mayor, eountersl(ned by its City 3eoretary, and re.-istered by its City Treasurer, and the interest coupons 1jereto attached to be executed by the printed or lithographed signatures of the Mayor and City Secretary, as 1. of the date last above written. BEGI Sm ED Mayor* City of Georgetown, Texas Countersigneds City Treas.,City of Ceorgetoeta,Tex. City Secretary, City of Ueorgetowa,Tex. 'option 9. The form of interest coupon shall be substantially_40 followas ON TBE___PAY OF 19_,., THE CITY UP t+ECRGET00* TEXAS, promises to pay to Bearer at THE; XI-RST pAT I01UL BABA IN DALLAS, DALIA a, TIMAS * the sum of Dollars (#,�) in lawful money of the United States of Amerioa, being six monthsr interest, on CITY OF GEORGLTONN* TrMIAS STRI�M REFMIM B01®, Dated July 19 19W* City Secretary Mayor Seotion 10. That substantially the following Certificate shall be printed on the back of each of said bontes OFFICE OF CON?TROLLM STATE OF TEICAS I HEREBY CERTIFY that there In on file and in my office a certificate of the Attorney general of the State of Texas to the effect that this bond has been examined by him as required by law, and that he finds tr►at it has been Issued in conformity with the Constitution and laws of the'State of Texas, and that it is a valid and binding obligation of said City of Georgetown, Texas, and said bond has this day been registered by me, WIC MY HARD AHD SEAL OF MY OFFICE at Austin, Texas, this the day of �� 1935, nRtroller of Publio Accounts, State 0f Texa5 1` Section 11. The Comptroller shall not register said bonds ezoept as and when there shall be surrendered to hiss an equal amount of CITY OF GMRGETO':T% TMAS STR''ZT BOLDS, hereby refundeds, as hereinafter directed. seatior" 12. BE IT WIRTRER OAULM BY THE CITY COUNCIL OF THE CITY OF GEORGETOM that there shall be and tbere it hereby created a special fzni In the City Treasury to be knoin as the "Sinking Fund for Oily of Georgetown, Street Refunding Bonds" for the purpose of paying the interest on said bonds and the principal thereof as same b000mes dues mbioh f nis shall not be diverted nor drawn upon for any other purpose, and the City Treasurer Mall honor no draft upon said fund except to nay interest upon or principal of said Refunding Bondss or for the investment of said sinking ibnds, as provided by law. Se4ticn 13. That to create said Special Fundy to pay the Interest on said refunding bonds and the principal thereof as sane become due, there is hereby levied for the current year and for each ssucoesding year there-0 after while said Rellnnding Bonds, or any of them, are outstanding a tax of and at the rate of $0.20 or so much thereof, or such greater rate as may be necessary, on each One Hundred Dollars valuation of all taxable property in the City of Georgetown, and said tag shall be assessed ancl oolleated for the current years and there shall be calculated each year thereafter while any of said bonds are out. standing and unpaid vdaat rate of tax is necessary to provide current interest and the required amount of principal for each year, and a tax at such rate, within the lawfully permitted rates shall be assessed and oolleated during each of said years, and said tax is iereby ordered to be levied, assessed and oolleoted and applied to said propose. The interest due on said Refunding Bonds on the lot day of January, 1936 shall be paid out of the funds hereinafter appropriated and set aside out of the special fund created for the original bonds herein refb.nddd, Section 14. IT IS TMTRER OWLIM that a sum sufficient to pay all Interest due July lot, 1935, on said CITY OF GEORGRIPM, TAKA99 STREET BOMB# together with $6,000,00 of the principal thereof, be and the some is hereby not asido and held in the Special '"City of Georgetown Street bonds" fund for said purposes all renairing funds in said special sinking find of the bonds hereby refunded are hereby appropriated and set aside to the special "Georgetown City Street Refunding Bonds fund" created for this issues and an taxes in process of collection for the benefit of said special fund for said original bonds are- likewise appropriated to the special fend for this Refunding bond issue. The officers of said City are hereby directed to tales such steps as are necessary to transfer said funds to 17 the special fund for this Refunding Bond isstis1 provided Ter that said transfer shall be made- iroportionately time to time an and when said original bonds have been actually surrendered in exohzNp for said Refunding Bond in .such manner that said original bonds not exc s if ajgy 11 s be protected heretofore by proper interest and singing /provided for that purpose :eoti;, +; IT IS 1' 'R ©RDAIMED that M. F SMITH, Mayor, is hereby authorized and directed to take and have charge of all necessary record pending Investigations by the Attor Genssral, and shall take and have charge and control of the Refunding Bonds hereby authorised, pending their by the Attorney General After said bold have been approved by the Attorney General, the Mayor is authorizred to leave the Refunding Bonds in the office of the Cornptrollor pending exchange for the original bons ss hiah may be at one time, or in installmentel and said Comptroller shall take and hold said Refunding Bonds, unregist red pending the delivery to him for cancellation of the origi 1 bonds hereby refunded and upon cancellation of same he shall register an equal amount of aid Refunding Bonds and deliver same to the holler or holders of the original bond so surrendered 15. An imperative public noes ity having arisen necessitating that the above and foregoing ordinance be adopted forthwith, creating a great public emergency requiring that the rule providing for the reading of an ordinance in open meeting at t:see regular meetings of the City Council be suspended, the same Is hereby suspe_ided vri th the consent of the Mayor and the unanimous vote of all the Aldermen of said Citys and this ordinance shall be in fora and effect from, and after its pas and approval . (SEAL) Attests PASSED AMD APPROVED this the 10th day of June, 1935. M. if, 3XTH 131 an ad ayor, City of usorgetown, Texas li. L. CATES (3ianed1 City Secretary, City of ueorgetowa, Tex. l8