HomeMy WebLinkAboutORD 70-11 - Revenue Bonds196
ORDINANCE AUTHORIZING THE ISSUANCE OF
.REVENUE BONDS
THE STATE OF TEXAS
COUNTY OF WILLIAMSON
CITY OF GEORGETOWN
On this day the 6th day of April, 1970, the City Counc I of the City of
at the regal r meeting place
Georgetown, Texas, convened in special session.
thereof in the City Hall with the following members presentj
JAY,C. SLOAN, MAYOR
A. F. DAVIS
BOYLE LYDA
HUBERT BROCK ALDE11METN
HARRY GOLD
WILLIAMURI EANDS
CLAUD EARS CITY SECRETARY
and the jollowing absent: None, constituting a quorum, when
amoung other proceedings were had, to -wit:
Alderman Eanes introduced a proposed ordinance which
Alderman Gold loved that the rule requiring ordinances to
one meeting be suspended. The motion was seconded by Alde
The motion carried by the following vote: AYES: Alde
Brock, Gold, and Etines: NOES: None.
following,
read in full,
read at more than
Brock.
Davis, Lyda,
Alderman Gold moved that the ordinance be passed final The motion as
seconded by Alderman Brock. It. w
The motion carried by the following vote: AYES: Alde
Brock, Gold, and Eanks: NOES: None.
The Mayor announced that the ordinance had been final
jtN ORDINANCE
BY THE CITY COUNCIL OF THE CITY OF GEORGETOWN, TFX
IZING THE ISSUANCE OF REVENUE BONDS OF SAID CITY I
PRINCIPAL AMOUNT OF $400,000 (BEING THE FIRST PARR
STALL ENT OF A TOTAL VOTED AUTHORIZATION OF $67510
WHICH $175,000 OF BONDS ARE AUTHORIZED FOR THE, Pun
CONSTRUCTING EXTENSIONS AND IMPROVEMENTS TO THE CT
WORKS SYSTEM; $100,000 OF BONDS ARE AUTHORIZED FOR
OF CONSTRUCTING EXTENSIONS AND IMPROV&11gg ITS TO THE
ELECTRIC LIGHT SYSTEM; PRESCRIBING THE FORM, TEILMS
DITIONS OF THE BONDS AND THE FORM OF THE INTEREST
PLEDGING THE REVENUES OF THE CITY'S COMBINED WATER'
SEWER AND ELECTRIC LIGHT SYSTEM TO THE PAYMENT OF I
OF AND INTEREST ON SAID BONDS AFTER DEDUCTION OF R
EXPENSES OF OPERATING AND MAINTAINING SAID COMBINE
MAKING CERTAIN COVENANTS OF SAID CITY WITH REFEREN
BOND FUND FROM WHICH SAID PRINCIPAL AND INTEREST X
RAID; ENACTING PROVISIONS INCIDENT JUND REIATING TO
JECT AND 1'UR1)OSE OF THIS ORDINANCE; CONFIRMING THE
BONDS; AND DECLARING AN EMERGENCY.
WHEREAS, under And by virtue of an order passed and ad
Council of the City of Georgetown, Texas, on November 12, 1
ordered to be held in said City on December 10, 1969, on th
issuance of $350,000 of revenue bonds for the purpose of co
ions and improvements to the City's waterworks system, $100
bonds for the purpose of constructing extensions and improv
sewer system, and $225,000 of revenue bonds fdr the purpose
extensions and improvements to the City's electric light sy
bonds to bear interest at a rate not exceeding that permitt
mature serially over a period of years not to exceed thrity
date; and
WHEREAS, said election was held pursuant to said order
and
WHEREAS, the City Council has examined into and invest
of the proceedings for said election and finds that the sam
passed.
I AUTHOR -
THE TOTAL
Olt IN-
), OF
SE OF
'S WATER -
HE TRUPOSE
ITY'S
ND CON-
-_ I
INCIPAL
SONABLE
SYSTEM;
1 TO THE
TO BE
BE SUB -
ALE OF THE
ted by the City
9, an election was
questions of the
tructing extens-
00 of revenue
ants to the City's
f constructing
am; such revenue
by law, and to
30) years from their
December 10, 1969;
gated the regularity
was duly and legally