HomeMy WebLinkAboutORD 05.02.1966 - Revenue Bonds $325,000464
L
AN ORDINANCE
BOND SALE BY THE CITY COUNCIL OF THE CITY OF GEORGETOWN, TEXAS, AUTHORIZING
THE ISSUANCE OF REVENUE BONDS OF SAID CITY IN THE TOTAL PRINCIPAL
AMOUNT OF $325,000.00 (BEING THE FIRST PARCEL OR INSTALlAfFNT OF A
TOTAL VOTED AUTHORIZATION OF $4000,000.00), OF WHICH $45,000.00 OF BONDS
ARE AUTHORIZED FOR THE PURPOSE OF CONSTRUCTING EXTENSIONS AND IM
PROVEMENPS TO THE CITY'S WATFRWORfKS SYSTEM; $80,000.00.OF BONDS
ARE AUTHORIZFD FOR.TTTE PURPOSE OF CONSTRUCTING EXTENSIONS AND TM
PROVFMFNTS TO THE. CITY'S SEWER SYSTEM; AND $200,000 OF BONDS ARE AUTH-
ORIZED FOR THE PURPOSE OF CONSTRUCTING EXTENSIONS AND IMPROVEMENTS
TO THE CITY'S ELECTRIC LICIT SYSTEM; PRFSCRIBING THE FORA(, T];RMS
AND CONDITIONS OF THE BONDS AND THE FORM OF TPE INTEREST COUPONS;
PLEDGING r1E REVENUES OF THE CITY'S COMBINED WATERWORKS, SEWER AND
ELECTRIC LIGHT SYSTEM TO THE PAYMENT OF PRINCIPAL OF AND INTEREST
ON SAID BONDS AFTER DEDUCTION OF REASONABLE EXPENSES OF OPERATING
AND MAINTAINING SAID COMBINED SYSTEM; MAKING CERTAIN COVENANTS OF
SAID CITY WITH REFERENCE TO THE BOND FUND FROM Wi4ICII SAID PRINCIPAL
AND INTEREST ARE TO BE PAID; ENACTING PROVISIONS INCIDENT AND
RELATING TO THE SUBJECT AND PURPOSE OF THIS ORDINANCE; CONFIRMING
TIIE SALE OF THE BONDS; AND DECLARING AN EMIMGENCY.
Motion was made by Councilman Brock and seconded by
Councilman Lyda that the above Bond Ordinance be adopted. Motion
carried by unanimous vote. See Ordinance Book Page 495-
TILE FOLLOWING IS A TABULATION OF RIDS RECEIVED
AT SALE. OF $325,000 CITY OF GEORGETOWN UTILITY SYSTEM
REVENUE BONDS SOLD MAY 2, 1966.
Bidder Maturities Int. Rate Net, Int. Cost Premium Effective Int. Rat
Russ & Company
67-73
5.00
156,790.00
8.25
4,040766
74
4.75
75-78
3.85
79-80
3.90
81-82
3.95
156,781.75
83-86
4.00
Rowles, Winston
67-73
5.00
159,540.00
-0-
4,11185
74
4.75
75-78
3.90
79-82
4.00
83_-86
4,10
_ _
Columbian Securities 67-74
4.35
154,940.00
-0-
3.99329��
75-77
4.00
78-80
3.90
81-83
3.95
4-86
4000
Dittmar & Co.
67-74
5.00
159,940.00
-0-
4.12216
75-82
4.00
83-86
4.05
First Southwest
Co.67-75
_
3.75�
_ 153,640.00
Rauschar Pierce
76-86
4.00
M. E. Allison
67-78
4.50
158,640.00
-0-
4.088fi5
77-78
3.90
15
79-86
4.00--
McClung &
_
Knickerbocker,
Inc.67-73
5.00
158,000.00
61.00
4.07059
74-86
4.00
157,939.00
The Council decided to accept the low bid which was submitted
by First Southwest.Company Rauschar Pierce & Company.
SWIMMING City to Lease Shell Pool $400.00
POOL (J. M. Shell, Jr. Est.)
Purchase Diving Board 125.00
Rent Coke Box & Baskets 25.00
Insurance 1 175.00
Contribution.to Recreation Program 500.00
$ 1225.00
Recreation Comm. to give to City
(approximately) depending upon
United Fund Contributions 750.00
Approximate Total $ 675.00
* School to contribute $500.00 to Recreation Program