HomeMy WebLinkAboutORD 12.14.1925 - Bonds for Street ImprovementsAh ORDINANCE OF TIM CITY OF GLORGETOI N. TEXAS. AUTHORIZING THE
ISSUIM OF BUNDS OF 7i; SAID CITY, IN llr': PRINCIPAL Sup OF $45,000.00,
TO BE DATM JANUAR715s , 1926, AM TO BL IN DEN61INATIONS OF $500.00
EACH, AND TO W, NULR1_"i;FD,FR0K AND I11CLUSIVE, U11, TU NIINLT'Y. AIM 'TO 1Z
Da SERIALLY THT.I-1 EACH YEAL Ili TEEIR NUIMRICAL 01-MER , 131-GINNING WITH
WU1:� hS Utz; , 7-60 AND T a`K Ole; JANUARY 1ST, 1927. AND TYUS CONT" INUIN G
TYREZ EACH YEAR Fiklfi SAID DAT".I; , U '1 1LIF: NUIRRICAL OIWER ULT IL M
1IV IRE SHIES, FAS W-:Y FAID; EACH OF THE SAID BUDS TU BHAR INTEREST
FROM DATE AT FIVE' FED, a -TIT r'Eh AMY, AYABLEII.INI-ANNUd LLY CST THUST
DAY OF JULY AND JANUAF;Y; li:TUUST TU Bey INIDENC`.ED BY CZUNN, BEZIN(i
Ilo'T'RYEST AFTl�R- a.AT'U ITY AT TEL ;.,AIM hATE . A TAX OF FIFTLYZ CENTS QN
EACH $100.00 VALUAT I UB OF IR CI',11TY IN SAID CITY T U BIT, 1XV IlM A D COL_
LECT D TO xAY d'MMIAL AM a"AZ:-;EST ;,S IT .ATU.:LS. THL FROCi..1;DS FUM
THL E AID OF AID BUVD,'3 TO M U D IN TIL PAVI IG , DRA11UNG , BU ILDIHri,
IMFROV IKG . GFL NING AND V IDIZ,11G IN TEE SAID CITY. M CLARING AN
ix.
Shereas., at an election held in the said City of Georgetown,
Texas, on the 30th day of November, A. D. 1925, a majority of the quali-
fied voters, who were property taco 1,ayers of the said city, voting at
the said election sustained the proposition to issue the bonds here•
in dee.eribed for the principal sum of $45,000.00, by 232 affirmative
votes for, and agairrbt 163 negative votes; carrying said election by
a majority of 69 votes for the issuance of bonds:
TH:,U ISO -M , B1 IT O RDAI aD BY THE CI TY C UUN C IT, OF TEE CITY OF
CI.0FW_ T0% 1i , TUAS :
Section 1. That bonds of the said City to be called "City of
Ge orfe town raving Fonds" be issued under and by virtue of the consti-
tution and lawn of the State of Texas, and the provisions of this or-
dinance, for the purpose of paving, draining, building. improving, o-
pening and widening streets of the said City, ir, the principal am of
Forty Five Thousand(: 45,000.00 )Dollars.
Section 2. That the said bonds shall be in denominations of
$f,00.00 each, and shall be numbered consecutively from one to ninety,
inclusive, and each shall be dated Oanuary let, A. D. 1926.
Section 3. That the said bonds sball be due and payable ser-
ially. three each year, in their numerical order, beginning with num-
bers one, 4uo and three, on the lst day of January, A. D. 1927, and
continuing three each year from #aid date, in their numerical order
until the entire series has been paid; the said bonds being thirty
year serial bonds.
Section 4. That the said bonds shall bear interest from date
at f ive per cent (5%) per annu:z., .payable semi-w"r:ua.11y on the 1st day
of July and January of each year. That the said interest is to be evi-
denced by coupons tl-at sbsll bear the same rate of interest from their
maturity.
Section 5. That the principal and interest on the said bonda
shall be paid on the presentatian and surrender of bond or coupon, at
the office of the State Treasurer, at Austin, Texas, or at the Reehanicts
and I.etals National Bank, irz the City of New York, at the option of the
bolder.
13
Section 6. That each of the said bonds shall be signed by the
X.ayor, countersigned ,by the amity clerk, end registered by the City
Treasurer, and shall be impressed with the corporate seal of the "City
of Georgetown, Texas".
Section 7. That a facsimile signature of the Mayor and City
Clerk of said City mAy be lithographed upon the .coupons attached to
the said bonds, and shall have the same effect as if such coupons had
been signed by them.
Section 8. That to pay the interest on the said bonds as it
becomes due, rind to create a sinkinj:; !Fund sufficient to pay off and
discharge the s I -Ad bonds as they become due, a tax of' f if teen cents
on each one hundred(,5100.00)1ao1lars of all pxo :erty in said City, taxa-
ble under the constitutidn and lairs of the State of Texas, shall be
annually levied on said pry, perty, and shall be annually assessed against
the said property. and shall be an.,:ually collected until the said bonds
and said interest .is fully paid, and the said tax is here and now lev-
ied for the current year of 1926, and for each succeeding year while
the said bonds, or any of them, are unpaid, and that the same shall be
assessed and collected for the said current year, and annually thereaf-
ter., and api lied to the said, purpose i:erein named.
Section 9. That the form of the said bonds shall be .substan-
tially as follows:
UNITED STITES' of Al"IRICA .
S TAII; OF TEXAS,
CO LIN TY OF
The City of Geor6etown, Paying Bonds.
KNOW ALL NEN BY TKI�SB iRASLNTS. That the City of Georgetown ,
Teals, in the County of Williamson, State of Texas, a municipal cor-
poration July incor; orated under the laws of the State of Texas, for
value re "e ived , hereby promi W a. '... pay to the nearer hereof an the
is t day of .1 anuary, A. D . 1 the aum o i Five Hundred (4504.00 )
Dollars, in lai-ful money of 41*e United That es of America, with in-
terest t.:.,reon from date hereof, at the rate of rive per cent per an-
num, interest payable semi-annually, on the let day of :�:uly and .i anu-
ary of each year, principal and interest payable ypon the presentation
and surrender of bond or proper coupon at the office of the State Treas-
urer, at Austin, Texas, or at the Ye.c ail,_ 'I ; 3rui iietals National bank,
in the City of New York, State of Nev, York, at the option of the hold-
er, and the aLid City of Georgetovai is hereby firmly bound, and its
faith and credit, and all real and perso-. al 1:roperty in the said City
are hereby pledged for the pi.ompt payment of this bond and the inter-
est thereon at maturity.
This bond is one of a aeries of ninety bonds, numbered from
dno to ninety .nclusive, of the denomination of Five Fundred (Ar":;G.00,
Dollars aggregt:ting Forty-,s ive TYiousand(,;45,000.UU Dolt:xl°f , is-
sued fes° the 1•urpose of paving, draining, building, improvirik;., iupening
and widening streets of the said City, issued under and by virtue d
the constitution and laws of the State of Texas, and in pursuance of
1t
an ordinance passed by tit City ;ouncil of the Laid City of Georgetown,
Texas, on the 14th day of DecLmber, A. D. 1902'5, which ordinance is of
record in the Ordinance T.ecords of U.e said City. The said series of
bonde are due and kay ule seriUly, t }see each year in their numerical
order, number one, two and three being due ; anuary let, 1927, and the
remaining bonds of the SLriess- be ing payable in their r.t;merical order,
tbree each year therL of ter until all are Paid.
That :-hould this boidd _ot be 1:rs:ser.ted for redemption. upon
its il'aturity, thcv a;:sjlt z.hall efr:, e to bear interest f2°0il and after tYA�
said date.
IT IS K.J1.BY Ci;I:T 1F 1CATKD J10',D h._i*:CIT17.D, that the issuance of
this bond ar.cz the aeries of w-hich it is a _art is duly authorized by
law and by a vote: of the duly qualified taxpaying voters of the said
City of GeorE;ctown, Texas, voting; at rari el6ction for that purlo se with-
in the t:aid CCity, on the Zt h day of `oven"r, A. D. 192t; that all acts,
conditions and things required by lai o be done T:.recedent to and in
tie issuance of the said serif; of boner, and of this bond, have been
pro,;e rly done and f erfc,rT ed and have r aA i ened in regular and due time,
form iind fvari:ler, as required by law, tLat sufficient andl--roper provi-
sions for the levy and cci.., ection of taxes have been made, which when
collected shall be apkropriated ex�luaively to the payment of this bond,
ar, d the series of Yd hic h it is a part, and tc ti,e payment of the interest
coupons hf-reto annexed ass tLL same shall become due; and the total in-
vebtednesss of said City of Georgetown, TexaL, including the entire sae-
ries of bonds of - Y:ich this ie are, does riot e_,:ceed the ccr-.stitutional
and statUtory li.,iitation. 11
IN ITT'iRSS the City of Georgetown, Texan, by its
Counci; has caused its corporate seal 66 be afAxed hereto, and this
bond tc ;e signed by its ka,.Aor, and countersaigi:ed by its City Clerk,
and ttgiotered by its city _,-:.-surer, and the interest c,_-Y:ons. hereb
at tac lxd to be executed by the lithographed sig:,:aturas L., ua or Ind
City Clerk; this date of this bond in accordance with the � i°dina:..ce au-
thorizing Sarre Bing the list &,,y :..f January, T). 191*C6.
Gll O . KLA11 Y.
1'AYOE, CITY U?- G1.O,`-.Gl:TOIi,N, VEXAS.
1d G ISrT:-,LRD :
CITY TIK .A l R?1 L' .
1
Section 10. That the form of coupon ehs11 be substantially as fellows:
$12. 50 .
on the first day P9
A. D. 19
The City of Georgetown, 7e:cas, will pay to bearer at %he
office of tye SAlr`Lanic's
State %reasurer, at stir•, Teyus.s, o� at LecoS
and etals L:atioria.l i an.- in the �,ity of ' ev. York, in
bew York, at the oi.tion of holder, jwelve and 5J%1&me�bein6}six lmontbe
in lalful o:_ey of the Lnited .:testes of A...erica, dated anuary
interest on City of Georbetown 'raving frond 1;0. �_.
let, 1926.
jM0 . 1. SHARPL ,
GE-0 . rLAte::Y,
CITY CLERK.
w
Section 11. That the following certificate. shall be
printed on the back of each Of the said bonds:
Office of Comptroller.
State of Texas.
I hereby certify tiat there. is on file and
of record in my oif'ice, a certificate 01' aie Attorney GE:r.eral of Texas,
to the effect ti.at this bond Lac been examined by hirn as re wired by
lair, and that it has been i:>sued in eor.formity with the constitution
and laws of the State of Tcxae, anc that it is a valid and blyding ob-
ligation u,�.on the said City of Georbetown, Texas, and that ti.is bmd
l:as been this day r, gis,ei-F:d by i:-je.
1Yitness my band and seal of office, at Austin, Texas, this
---day of , A. D. 192b.
CCk 11T1KQ i-1Z. ('F i'UBLIC ACCG L I S GF
THE STATE OF TEXAS -
section 12. It is further ordained that ;no. Sl ari.e,
ti.e . ayor o! tht saic C.Lty, and his buccessors in office c2=all be
authorized to take and i,ave ch-a;..x•ee of all r:ecessary records j:endin�;
investi&ation -by the Attorney Gencral ar:d ehall take and- Lave chari-e
C)y control of c..cral and L-egistrationebyFthel-Z their Comptroller rof9aublic
� y ti.e at t or y
Aecounto of the L�'tate of Texas.
IG
-Oct ion 13. Sit irsc:t U.at t}at ::ity of Georc,o_to%v. ; cxao, is
Ladly in :.aed of street improve.._.a1-.t, wi;ioh Laid imiruven.u:.t is to
tic best interests Lind gcsnt ral weli&rb ut IAt c,aid City, wid are ne .
ee"ary, crt:L,tds ar Gr*rbur:Cy ar'd U-4trutivu i -blie r.cc:cueity re.
c virinC tLat Ll.t; rules wtaoh rovide tLat ordinance a2.a11 be read
at t2.rou sc,c.rutc ,•ass,akA, ue a'd t}.c;y are hereby
swyer.ded, ar'd it :u urdaincn that tl.is urdii:n: uv W Lore i inally
I."eed, iuid tt,L:t -A taxe 011 eet im:..cidiate]y from and oI ter Ito 1,as�w►
Lace WA approval.
19260
rubse+d and j,provc,d thiL the 14th. day Of Ocumbers A,D,
�A .0 v A_ L v L G, C.,r
YXIA6 .
ATTEST s
1LY' C,m�.:T u.;
1.
17
insnoial 'J''_a Cement of the ' i'-y of C',=or:~•ato'.rn
Te=;a s.
c c , f `�l c, n1_ T s; th 1 ty
.,_sse sse u valise o- �_ 0 3erty, ,,Lb j e , o taz� u Lon, in e ,1 Uy
of "uor�e �0.7n '-e-..as, f. c �' _- tTear 1r 7, '71 s slho..Y] 17 r l st a_Jproved
assessrent rolls of 'he s�.ic? Oitz.--•------------------------ao
.l
��ss�sse=: value of real estate sub1pv-- y� i to taxation it said amity
for said �ar 19"� as sho-.'Y, b ''she said. a .seE;s-crei7 t -rollls% - 4
i
Apse ssG�: value of ....11 yoersoral .)ro oerty sulb j eu o ta-" a iOil,
�pa
`aid ;ity, for said year, as shoin by said .sties: ens rolls,
General tax rate autorized, for -,-he year 1926.---------- 41.17.
. nT T,
�.�ID �
.137 al D i�L� �3Y
BOIN S.
T t - �+,, T r", ryTr ., .�-,.! �n, ry n'T.7
1' ii.13 ala D '-.0 _RA'l Ll l .
n-� /�1
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/�7rM �v n �T T1,,T (C
L' 1 1 1.11�1i DI.1 G.
�j �r1
RA x L
yt
'-'A L`_."�I 1.
- - • _ .. • • . -
G 1' 301JDS.
Iwiw�7UE.
ISSUE.
II'�"'.
--��//�� _
Rafunding Sohool Aug.l6th, 5
'rouse 3onds. �,,4, 000. 00
10-40. s. z
- - - - - - - - - - - -- �u------- - - - - - - - - - - - - ----------,----- -• •------
Eater corks 3onds, 4N18, 000.00. ✓
De--. 1st.
n
10-401�. 1910.
-------------------------------------------------��----
yle3tri3 Light Rona
10-40's. Dec.lst .,000.'00
_afar Works 3onds,
Se--ond Series.
10-40's.
---------------------
greet Bonds.
10-40' s.
1910.
Jan.' lst,-------000.'p0 �---5',---
19140 Sri
1955. 3,ats.
1950.- 12,0ts.
11900. J' Jtu•
1954, �,,,,ts*
------------ --85, OvO.00., ✓----- --196� -- -27 s Ct s.
June 1st,
19220
n Ii � f sT � / [1 . rt �
ghat the Street Bonds , o,;n 143,OOu.00, of cater ".:orks Bons and.
3,500Q00 of Water '4orks 3onds, Se--onB Series", and in addition thereto
4p
has --ash on hand belong to its fund in the sum of=---
CItV-ORDJNANCE CALLING FOR A
BOND ELECTION
An ordinance of the City of Georgetown,
Texas, calling and ordering an elee-
tion to be held in mid for the said
City, on the 30th day of November,
A. D. 1925, by the vvrers of said City
qualified to vo±e at such an election,
to determine whether or not there
shall be issued 1>,T the said City bonds
in the aggregate sum of $45,000.000,
in deunminn tions of $500.00 en-ch, due
three each year, for from one to thirty
veers after date thereof, to bear in-
terest from date at 5610 per annum,
payable semi-annually as it accrues,
and past due interest to bear the same
rate of interest, interest -to be evi-
denced by coupons; and to authorize
the levy and collection of taxes suf-
ficient to pay said bonds and the in-
terest thereof, as it matures; the said
bonds to be sold, and the proceeds
thereof to be used in the paying,
draining; building, improving, open
ins_ and widening streets in said City.'
Be it ordained by the City Council of
the City of Georgetown, Texas.
That an election be and is hereby call-
ed and ordered held in the said City, on
the 30th day of,November, A. D. 1925,
'by the voters of the said City qualified
under the law to vote at such an elec-
tion, to determine whether or not the
said City shall issue its bonds in the ag-
gregate sum of $45,000.00, in denomina-
tions of $500.00 each, due and payable
serially three each year for from one to
thirty years inclusive, after the date
thereof, till all have been paid and bear-
ing interest from the date thereof at the
rate of five per cent per a.nuum, payable
semi-annually as it accrues, as evirienced
by coupons, to bear interest from ma-
turity at the same rate; and to authorize
the levy ail collection of a tax by, the
said City, sufficient to pay, off the said
;bonds and the said interest at the ma-
urity thereof, as A accrues; the said
onds to be issued by the said City for
he purpose of raising monc,y from the
ale thereof, to pave, drain, improve,
uild, widen, and open streets of the
said City; under the general supervision
and direction of the City Council of the
said City.
That all persons voting at the said
-lection for the issuing of the said
onds, shall have printed or written on
heir ballots, "For the issue of bonds";
d that all persons voting at said elec-
n against the issuing of the said
nds, sbal lhave printed or written on
heir ballots, "Against the issue of
That the said election shall be held at
the City Hall building in the said City,
and shall be held in the manner pre-
cribed by law for the holding of such
That W. I. Stump and P. B. Branch
are hereby named, constituted and ap-
pointed judges of said election and of-
ficers of the said election, and hereby
empowered to appoint such clerks and
assistants as they may deem necessary,
and hereby empowered to do all things
necessary and proper in the holding of
the said election.
That the Mayor of this City is hereby
directed to cause this ordinance to be
published in the Williamson County Sun,
a newspaper published in the said Mity,
once each week for four successive
weeks, the first publication to be not
less than thirty days prior to the date
of the said election; and he is hereby
directed to cause a copy of this ordi-
nance to be posted in three public places
in said City, one of which sball be at
the place of the holding of the said elec-
tion, for at least thirty days prior to
the date of the holding of the said elec-
tion; and when so posted and published
this ordinance shall be and constitute
notice of said election.
Passed and approved this the 26th
day of October, A. D. 1925.
J. M. Sharpe, Mayor,
Attest: City of Georgetown, Texas
Geo. Keahey, City Clerk,
Ci+n of f;enr�-Qtown., Taws, 1A