HomeMy WebLinkAboutORD 02.12.1912 - Water & LightATt ORDINA?3CF AUTROP17141 M VA'✓OR OF TIM CITY OF GFORGFT,OW4',
TKKAS, TO BORROW TNR ST41 OF STX THO-USA.'VD DOLL.IRB AND 'r0 VX -
C111 RR TR3 DATER M LT31TT SYSTRVIS 1Mo13IUNG TO SAID CITY
AND TTM INCOMRS T iMMOF A" EVERYTHING PERTATWING THERETO I
IN SUCH 4310TINT, AND TO VW71TE A DF10 OF TRUST ON SI1CFi
WATP.R XII LIGRT 21.X 1 SYSTM(S AND TRE INCOMM TAI NOP ANDXX
EVARYTHING PERTAI;;1N r THERETO TO SHCURR SAID INDERTF..DNES,S1,
IN ACCORD 0CR WITH CHAPTER M112, OF THE GOAL L kW3 OF
THM STATE OF TF.X480 PASSED BY THE THIRTY-SECOND LEGISLATURP;
AT ITS REGULAR SESSION.
Whereas, the City of Georgetown is a municipal corporation,
Incorporated and operating under Title 180 of the Revised Civil
Statutes of the Stat* of Texas, and owns and operates a water
system and a light system; and whereas the said City owes the
Farmers State Bank, of Georgetown, Texas, the sun of Two tkwiso
and (t,2000.00) Dollars, expended In building said water and ligit
systems, and desires to refund said existing indebtedness; and w
whereas said City desires to borrow Your Thousand (,14000.00)DOL}-
lays Jhmx1kwxjtsxp*zwxA1xkx:tijUxX In addition to said Two Thousad
($2000.00) Dollars for tke purpose of building, improving, enlrao
rging, extending, and repairing said systema,
TR'KMF.FORF be it ordained by the City Council of the City of
Georgetown, Texas:--
Section
exas:--
Seetion 1. That for the purpose of refunding the spiel Two
Thousand ($2000.00) Dollars of existing indebtedness, end for
the purpose of obtaining Four Thousand ($4000.00) Dollars to use
In building, improving, enlarsring,extending, and repairing tke
water and liwltt systems belonging to said City, tke navor of s,4
C1t7 is hereby autkorized, empowered, and directed to borrow the
star of Six Thousand (" 6OOO.00) Dollars, and to mortgage and on-
oumber said water and liFkt systems and Incomes thereof and
everything pertaininp► thereto, acquired or to be acquired, incl-
uding the land xxvm wkick said neater and light systems are sit-
uated, togetkor witx all mackinery,exgines, boilers, dynamo,
pumps, pipelines,, poles, wires, tools, and any and all property
and things used in connection with and as a part of amid systems
That said mayor shall execute a deed of truston said property to
some suitable person as trustee to secure said loan, but that tic
the management and control of said systems during tie time same
are encinabered shall remain In the kands of the City Council of
said City.
Section 2. Tk,. t ss�ld mayor shall execute two notes for the
sum of Three Thousand ('3000.00) Dollars eaeh,payable to the
order of the lender of said money, said mote to be of even date
witk said deed of trust, to bear interest at the rate of 8 % per
annius fraza date, are to be due and payable one (1) year franc
date at Georgetown, Texas, and skall provide for ten (10) per
cant additional for attar-neyr's fees, if placed in the kands of
2
( 2 )
an attorney for collection.
Section. 3. Tkak tke signatures of tke said mayor to said
deed of trust and to said notes skull be attested by tke Secre.
tary of tke said City, and tine corporate seal of said Cit- okal2
be attacked tkereto.
Section 4. Tkat the execution of said deed of trust and
said notes are autktrized under and in accordance to Ckapter W
lln, of tke General Laws of tke State of Texas, passed ty the
Thirty-second Legislature, at Its regular session, and ollall be
drawn and executed ire accordance witk said Ckhi,ter 11.2.
Passed and approved this the: 12th da.,r of Fetmaryr, A. D.,
1Q1?.
R - X. WAFM,
Mayor of tke: City of Georgetown, Texas.
Attest: Gera. Keake y-,
Secretary of the City of Georgetown, Texas.
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