HomeMy WebLinkAboutORD 1930 - Issuance of Bonds for Sewer SystemORDINANCE ORDERIN( R AUTHORIZING = a"C-0—
Or BONDS.
The State of Texas. I
City of Georgetown, p
4
County of jilliamson
can this the 13th. day of January A. D. 19309 the City
Council of the Oity of Georgetown, Texas, convened in regular
session in the Douncil -doom in the City Hall, all members there-
of, towit: F. Be Buchholz, J. R. Chastain, H. A. Edens, We S.
4
Frazier and J. C. Godbey, a le rden, and M. F. Smith, Mayor, being
present, and among other business transacted, the following
ORDINANCE was passed:
"An ordinance by the City Council of the City of Georgetown,
Texas, authorizing the issuance of bonds for the principal sum
of 460.000.00 for the purpose of purchasing the present George-
town Sewer system and making extensions thereof, and providing
for the levy, assessment,'and collection of a tag of Twenty(20�)
cents on the one hundred dollars valuation of all taxable pro-
perty within the limits of said City to pay the interest and
create a sinking fund for the redemption thereof, and prescrib-
ing the form of bond, and declaring an emergency."
Alderman H. A. Edens moved that the ordinance be placed on
its first reading; seconded by Alderman, Buchholz, and carried
by the following bote: Aye: F. Be Buchholz, J. R. Chastain,
5 votes.
H. A. Edens, We Be Frazier and J. C. Godbey./ No: None
Carried; placed on first reading. Ordinance read in full.
Alderman J. C. Godbey moved that the ordinance pass first
reading; seconded by Alderman, W. S. Frazier, and carried by
the following vote: Aye: F. E. Buchholz, J. R. Castain, H. A.
Edens, W. S. Frazier and J. C. Godbey---5 votes; No. gone.
Carried; ordinance passed first reading.
alderman, J. R. Chastain, moved that the rules be suspended
and that the ordinance be placed on second reading; seconded by
H. A.
.alderman,/.Ndens, and carried by the following vote:
Aye: F. Be Buchholz, J. R. Chastain, H. A. Edens, We S.
Frazier and J. C. Godbey --- 5 votes. No: none.
carried; ordinance placed on second reading. Ordinance read ia4
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Alderman, J. R. Chastain, moved that the ordinance pass sec- I?
and reading; seconded by Alderman, W. S. Frazier, and car-
ried by the following vote: Aye: F. E. Buchholz, J. R. Chas -
taint H. A. Edens, W. S. Frazier and J. C. Godbey--5 votes.
No; None.
Oarried; ordinance passed second reading. Ordi,3+uice read by caption
Alderman, W. S. Frazier, moved that the ordinance pass
third reading and final passage; seconded by Alderman, F. E.
Buchholz, and carried by -the following vote: Aye: F. E. Buch-
holz, J. R. Chastain, H. A. Edens, W. S. Frazier and J. C.
Godbey --- 5 Votes. uo: gone.
Mayor, M. F. Smith, then declared the ordinance finally
passed.
The Ordinance follows:
"AN ORDINANCy by the city Council of the City of Georgetown,
Texas, authorizing the issuance of bonds for the principal sum
of SIXTY THOUSAND(4609000.00)DOLLARS for the purpose of pur-
chasing the present Georgetown Sewer system and making exten-
tions thereof, and providing for the levy, assessment and collec-
tion of a tax of Taenty(20�)oents on the one hundred dollars'
valuation of all taxable property within the limits of said City
to pay the interest and create a sinking fund for the redemption
thereof, and prescribing the form of bond, and declaring an
emergency.
WHEREAS, at an election held in the city of Georgetown, on
the 23rd. day of yeeember A. D. 1929, a majority of the quali-
fied voters, who are property taxpayers of the (Aty of George-
town, voting at said election, sustained the proposition to
issue the bonds hereinafter described for the principal som
171
of SIXTY THOUSAND( 60.000.00 )DOIJARS , by a vote of I t affir-
mative votes, and which carried by a majority vote of 165 in
favor thereof, being "for the issuance of bonds,s----
THEREFORE, BE IT ORDAINED BY THE CITY COUNCIZ OF THE CITY
OF GEORGETOW11:
Section. 1. ihat the bonds of said City, to be called"City
of Georgetown, 16.7-gs, sewer Bonds,' be issued under and by virtue
�1xitle 22, Chapter 7, Arts. 823 to�825 of the nevised Statutes of
1925, and the Consitution of the State of Texas, for the purpose
of purchasing the present Georgetown Sewer system and making ex-
q
tensions thereof in the principal sum of SrMY THOUSAND D01.11HS.
Section 2. ��iat said bonds shall be numbered consecutively
from one to one hundred and twenty, inclusive, and shall be of
the denomination of FIVE HUNDRED ($500.00)DOLLLRS each, aggre-
gating the sum of SIXTY THOUSAND($60.000.00)DOLTARS.
Section 3. That they shall be dated the 1st. day of Feb-
ruary 1930, shall become due and payable serially, from one to
thirty years, in the amount of TWO THOUSAND($2.040.00) each
year thereafter from their date.
Section 4. That they shall bear interest at the rate of
fivet'W per cent per annum, payable semi-annually on the lst.
day of august and the'lst day of eebruary of each year.
Section 5. rhat the principal and interest of said series of
bonds shall be payable on the presentation and surrender of bond
or proper coupon at the offic of the State Treasurer, Austin,
Texas, or at th3tc, ii at ional Bank, in the L;ity
of Lew York, State of view York, at the option of the holder.
Section 6. ghat each of said bonds shall be signed by the
mayor, countersigned by the City Glerk, and registered by the
City Treasurer, and the corporate seal of the "City of George-
town' shall be impressed upon each of them.
Section 7. 1hat the facsimile signatures of the Aiayor and
City Clerk
may be
J.ithographed
on the
coupons attached to
said
bonds, and
shall
have the same
effect
as if they had been
signed
by them.
Section. 8. ihat the form of said bonds shall be substan-
tially as follows:
NO
UNITED STATES OF AMERICA.
STATE OF TEZA, S.
CITY OF GEORGETOW .
11
The City of Georgetown, ieexas, Sewer Bond.
KNOW :ALL IM BY THESE PRESENTS: That the City of Georgetown,
In the County of 6illiameon, State of Texas, a municipal corpo-
ration duly incorporated under the laws of the btate of Texas,
for value received, hereby promises to pay to the bearer hereof
on the 19_, the sum of FIVE HUNDRED($500.00 ) DOLI
LARS, in lawful money of the united States of ameriea, with inter-
-5
est thereon from date hereof at the rate of F IVE(5/)percwent per-
annun, interest payable semi-annually on the 1st. day of iLugust
and the lst day of February of each year, principal and inter-
est payable upon presentation and surrender of bond or
coupon at the office of the state Treasurer, Austin, Texas, or
at theme`.. Ratio' al 'Isank, in the City of �,;ew
York, State of „ew York, at the option of the holder, and the
City of ;%�eorgetown, texas, is hereby held and firmly bound, and
its faith and credit, and all real and personal property in said
City, are hereby pledged for the prompt payment of the princi-
pal of this bond and the interest thereon at ;maturity.
This bond is one of a series of aerial bonds, numbered
from one to one hundred and twenty, inclusive, of the denomina-
tion of FIVE HUNDRED(�500.00)DOLLiRS each, aggregating SIXTY
THOUSAND 60.000.00)DOLLARB, issued for the purpose of purchasing
the present Georgetown Sewer system and making extensions thereof,
under and by virtue Title 22, Chapter 7, Arts. 823 to 825 of the
Revised Statutes of 1925 and the Constitution of the State of
I�exas, and in pursuance of an ordinance passed by the City
Council of the City of Georgetown, Texas, on the 13th. day of
-january A. D. 1930.
IT IS Mi iBY CERTIFIED AND RECITED That the issuance of
the
this bond, and/series of which it is a part, is duly authorized
by law and by a vote of the qualified taxpaying voters of the
City of Georgetown, Texas, voting at an election held for that
purpose within said City on the 23rd. day of December A. D. 1929;
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 and performed and have happened in reg-
ular and due time, form and manner as required by law; that suf-
ficient and proper provision for the levy and collection of
taxes has been made which when collected shall be appropriated
exclusively to the payment of this bond, and of the series of
which it is a part, and to the payment of the interest coupons
hereto annexed as the same shall become due; and that the total
indebtedness of the said city of Georgetown, Texas, including
the entire series of bonds of which this is one, does not ex-
ceed any constitutional or statutory limitation.
L.
IN WITNESS WHEREUP, the city of Georgetown, Texas, by
its Uouncil, has caused its corporate seal to be affixed hereto,
and this bond to be signed by its mayor, countersigned by its
laity ilerk, and registered by its City Treasurer, and the in-
terest coupons hereto attached to be executed by the Lithographed
signatures of the layor and Uty Glerk; the date of this bond,
in conformity with the ordinance above referred to, being the
let. day of iebruary A. D. 1930,
Countersigned:
Registered:
Mayor, City of Georgetown,Texas,
City Clerk
City treasurer.
Section. 9.
the form of the coupon shall be substantially as
follows:
No
un the day of
19
The City of Georgetown, degas, will pay to bearer at the
off
.,ice of the State Treasurer, Austin, Texas, or at the
Ca2A-
'rational sank, in the City of wew York, in the State of
Bew xork, the sum of TWELVE DOLLARS AND FIFTY CENTS(4-12.50), in
lawful money of the United States of iLmeriea, being six months
interest on the City of Georgetown hewer .6ond Too dated
February let. 1930. "Orayor.
Ctyter.
oection 10. `
The following certificate shall be printed on
the back of each bond:
OFFICE OF 0012TROLIER,
STATE OF TEXAS.
1 Hereby certify there is on file and of record in my
office, a certificate of the &ttorney ueneral of the State of
Taxes to the effect that this bond has been examined by him as
required by law and that he finds that i�"as been Issued in
conformity with the Constitution and laws of the State of texas,
and that it is a valid and binding obligation Itpon said Gity
1
of Georgetown, Texas, and said bond has this day been regis-
tered by me.
nitness my hand and seal of office, at Austin, Texas, this
the day of
1930,
Comptroller of eublic Accounts Of e
State of 3eexas.
Section 11, It is further ordained by the City 0ouncil of
the city of Georgetown, Texas, that to pay the interest on said
bonds and create a sinking fund sufficient to discharge them at
maturity, a tag of TWENTY CENTS (20�) on each 0100.00 valuation
of all taxable property in said city of ueorgetown, Texas, shall
be annually levied on said property, and annually assessed and
collected until said bonds and interest thereon are paid, and
said tag is here now levied for the current year of 1930, and
for each succeeding year while said' -bonds are outstanding, and
the same shall be assessed and collected for the current year
and annually thereafter, and applied to the purpose named.
section 12. It Is Further Ordain that M. F. Smith, the
Mayor of said city, and his successors in office, shall be
z ��za:l authorized to take charge of all necessary records
pending investigation by the attorney general and shall take
and have charge and control of the bonds herein authorized
pending their approval by the Attorney Lieneral and registra-
tion by the Comptroller of rublic accounts.
Section. 13. The fact that the City of Georgetown, Texas,
is badly in need of sufficient sewerage for its citizens, and
the further fact that said City, under its option has but a
very short time within which to raise money, by the issuance
of bonds, with which to purchase the present privately owned
Ceorget,ovn Sewer System, and the further fact that a munici-
-pally owned Sewerage plant will give better and more efficient
service to its citizens, creates an emergency and imperative
public necessity that the rule requiring ordinances to be read
on three separate days before final passage, be suspended, and
such rule is hereby suspended, and it is ORDlI= that this
ordinance shall take effect and be in force immediately upon
its passage and approval.
rassed and approved this the 13th, day of January a.D.1930.
fittest. M. L. Cates i,�Q.{/F. Smith
�J �/ r Nil i/!t •� � I �/ M/ / �J-Q r ..v ff���f/� Y