HomeMy WebLinkAboutMIN 06.29.1922 CC-S
Thereupon, the question being called, the following
councilmen voted:
AYE . -I3. Davis, W. R. Mood, J. C.�-�-Dodbey, D. K.
Wilcox, and 0'.'W. Sherrill. and the following voted: No: None,
It was thereupon ordered by the Mayor of said Lity,
L. J. Dimmitt, that the said resolution was passed,
APPROVED, this the 29th day of June, 1922.
Attest:
.,..._.J,. J . DIMMITT
Mayor, of the UZZY of Georce town, exa e.
Ge o. Keahe-
City Secretary,
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dated June lot. 1922, denominatiun of $1,000-00, bearixZ in-
terest at the rate of 5% yer annum, payable semi -tannin lly,
June and December 1st of each year, principal and interest
payable at the Yuchanies and metals National Bank of Pew
York,,said bonds r;^:aturing 40 years from their date, Optional
'after ten y s, v;e hereby u6 ree to find you purchaser or
purchasers xho will pay you
PAR AND ACCRUED INTEREST TO DATE OF DELIVERY,
subject to the following conditions:
1. If this offer is accepted you are to furnish us
immediately with complete, certified copy of the transcript of
proceedings covering the issuance of these bonds and evidenc-
ing the legality�o �e same to the satisfertion of some re-
cognized, well -triown bond attorney agreeable to us.
2. Fbr and in -'consideration of services rendered and
to be rendered and to take care of Attorney's fee, printing and
other expenses incident to the issuance If said bonds, you are
to pay us simultaneously with delivery of bonds to purchaser
designated by us, and o»t of the general fund, the sum of
D2337 -.5n.
3. We attach hereto our Cashier's Check for $2500.00
on the American Exchange National Bank, Dallas, to be held by
you as good faith deposit to guarantee faithful performance
of this contract, and to be considered as full and complete
liquidated damages in the event, we fail to comply with the
terms heroin set out.
Respectfully submitted.
BREG , GARRETT & COIGPANY
BY W. A. McKinley.
Accepted thin the 22nd day of Vav, 1922.
L. J. DIMMITT _
• MAYOR, CITY OF G.ORGETOAIN."
' TEEREFORE, be it resolved that the Mayor of the said
,City, be and he is hereby authorized, for and in behalf of the
said City, to execute the above contract of sale.
That the said resoln4ion being read, it was moved
by councilman, Davis, and seconded by councilman, Sherrill,
that the said resolution be passed.
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The following resolution was read;
liMREAS, on the 22nd day of May, 1922,the offer of
Breg-Garrett and Company of Dallas, Texas, to purchase from
the City of Georgetown, Texas, the entire issue of $851000.+
00, in bonds, known as the "City of Georgetown Street Bonds",
was accepted by the City, and whereas, the said Breg-Garr-
ett and Company of Dallas, Texas, has tendered and delivered .
to the said City, it's certified check for the sum of 02500.00,
to insure the faithful perforffianee of the said contract, and
Whereas, the contract drawn and entered into on the said date
does not eaccux•ately express the terms and conditions -of the
said sale; and whereas, the following contract correctly ex-
presses the terms of the said sale, .to_v.,it
"May 22, 1922.
To the Honorable '_ayo.r. and City Council,
Georgetown, Texas.
Gentlt=en:
I'or your issue; of ; 55,000.00 of legally i,bsucA bonds
to be direct and Euneral obligation of the City of Georgetown,