Loading...
HomeMy WebLinkAboutORD 08.16.1905 - Refunding School BondsAN ORDINANCE AUTHORIZING THE ISSUANCE OF REFUNDING SCHOOL BONDS OF THE CITY OF GEORGETOWN, TEXAS, FOR THE PURPOSE OF RAISING $14,000 TO BE USED IN REDEEMING THE DEBT NOW DUE BY THE CITY OF GEORGETOWN TO THE HOLDERS OF CERTAIN BONDS KNOWN AS SCHOOL BUILDING BONDS OF SAID CITY, DATED JULY 16, 1894, AND PROVIDING A FUND TO PAY THE INTEREST AND CREAT- ING A SINKING FUND TO REDEEM SAID BONDS, AND LEVYING A TAX THEREFOR. BE IT ORDAINED by the City Council of the City of Georgetown, Texas: Section 1. That whereas the City of Georgetown, Texas, has outstanding $14,000 Public School Building Bonds numbers eight (8) to twenty-one (21) inclusive, of $1,000 each, all dated July 16, 1894, due July 16, 1934, and redeemable after July 16, 1904, at the option of this city, now, therefore, further BE IT ORDAINED by the City Council of the City of Georgetown, Texas: Sec. 2. That to provide means for the purpose of refunding the said pub- lic school building bonds, tnere shall be prepared and issued the bonds of the said city in the amount of $14,`000; said bonds shall be of the denomination of $1,000 and shall be numbered consecutively from number 1 to number 14 inclusive, and shall bear the date of August 16, 1905, become due in forty years from their date, but redeemable on any inter- est payment date on or after August 16, 1910, provided the said city shall give notice in writing at their place of payment of its purpose to redeem said bonds at least six months prior to such redemption. Such bonds shall bear interest at the rate of 5,9 per annum, payable semi-annually on February 16th and August 16th of each year; shall have coupons attached evidencing the several installments of interest, and shall be payable, both principal and interest, at the banking house of N. W. Harris & Company in the City of Chicago and State of Illinois. Sec. 3. Said bonds shall be executed in the form and shall contain re- citals, substantially as follows: UNITED STATES OF AMERICA STATE OF TEXAS CITY OF GEORGETOWN REFUNDING SCHOOL BONDS No. _ Know all men by these presents that th e (2) of the interest coupons hereto annexed,as they respectively become due, and both principal and interest are payable at the banking house of N. W. Harris & Company in the City of Chicago and State of Illinois. The City of Georgetown reserves the right to redeem this bond on any inter- est paying date on or after August 16, 1910, provided the said city shall give notice in writing at the aforesaid place of payment at least six months prior to such redemption. And the said City of Georgetown is hereby duly and firmly bound and its faith and credit and all. the real and personal property in said city are hereby pledged for the prompt payment of this bond and interest at maturity. This bond is issued by the said City of Georgetown under and by authority of and in full compliance with provision of its charter and the general laws of the State of Texas, applicable to said city. And it is hereby certified and recited that all acts,conditions and things required to be done and to exist precedent to and in the issuing of this bond have been properly done and performed and to exist in reg- ular and due form as required by the charter of said city and the con- stitution and general laws of the State of Texas, and that the indebt- edness of the said City of Georgetown including this series of bonds, does not exceed any constitutional or statutory limitation. IN WITNESS WHEREOF, the said City of Georgetown by its City Council has caused this bond to be signed by its Mayor and countersigned by its Secretary, and has caused its corporate seal to be affixed thereto, and the coupons hereto annexed to be signed with the lithographed signature of its Secretary and Mayor,and this bond to be dated August 16,A.D.1905. ff a,, UAA-,ek Countersigned Mayor. Secretary. Sec. 4. That the interest coupons to be attached to said bonds shall be in substantially the following form, to -wit: No.� �25.00 On the day of 190 the City of George- town, Texas, will pay the bearer at the banking house of N. W. Harris V Company in the City of Chicago and State of Illinois, $25.00 lawful money of the United States, being six months' interest on its Refunding School Bonds dated August 16, 1905, No. %� / I_ I For Countersigned Mayor of the City of Georgetown,Tex. Secretary. 9A