The Palatka daily news. (Palatka, Fla.) 1884-1888, 1885-02-28
~ viding for the Crea-
An Ordinance Bo3ded indebtedness.

ting OF slina inde Is Of the a. city
What re o:iin S for III, u S ssn;
Sinanee el7 z fling the ris%. Of way to s,s
struction kJala and Charlotte Harh9r Rail
Gaincsvil "a" and under the provisions OF
road Coz IN evidence of indebtedness. were
i E" iacaf att q inatStedness ssae: and
81 the evidences OF Indebtedness were is
wherR the purchase of fire engines and APP
or Of under the provisions of an ordinance
sue .'an ordinance providing for the pur;
en- as the holders OF said last named evil
list the city for unpaid interest on their
levidences Of Indebtedness. and whereas.
e. city council OF said city are deSirOuS of
ZEertafning the extent of the indebtedness of
Va city. and Of giving to the holders OF said
securities for the payment of any indebted
ness due them, and such an evidence of in
realize by proper and legal methods funds to
meet accrued interest and interest to accrue.
Grade certain streets 81 said city and to drain
light the streets 81 said city. and make other
health Of the inhabitants of the city. and 70
the welfare and prosperity of said city, ana To
place the financial Affairs OF sa'd CITY upon
Now therefore be it ordained by, the city
council of the City of Palatka Florida us t"i-
lows. to wit:
That the said city council OF sa1d ci y ,b hr
preamble, with the approval OF two-thinis Oh
the registered voters OF said city actually vot-
and dollars, of which the sum of eighteen
thousand dollars shall be used In funding all
Of Indebtedness issued under and in pursuance
to the ordinance as stated in the preamble TO
sum OF ten thousand dollars shall be used in
grading, sewering and draining the streets OF
said city and of which gross amount the sum OF
ing and supplying lights to said city. and
Of which gross amount, the sum OF OF Five
and public improvements, and shall issue the
bonds of said city to the amount of said gross
sum stated, and pledging the finds. credit ana
prosperity of the city for the redemption of
said sum SO borrowed provided however thnt
said sum shall not be aynbe in less tnan nVe
from the date hereof ut the option of said city
shall not draw interest at more than seven
same shall not be payable oftener than semi
annually,
There shall be Immediately prepared and
posted in twenty Of the public places in the
i'm order to determine whether the indebted
ness to be incurred under the previous section
shall be authorized or not and ut least thirty
ing said notice and day of election aforesaid
There shall also be prepared and furnished the
voters, printed ballots. which shall read as fol-
Shall the city OF Palatka borrow the sum OF
Thirty.hve thousand dollars payable i'm not less
than i've years and at the expiration of twenty
years, and bearing interest at notmore than
seven per cent per annumn. and interest pay
able not Oftener than scmi-anpually. of which
the sum OF eighteen thousand dollars, shall be
used in funding all Certificates of indebted
ness'' or like evidences of Indebtedness issued
''Gainesville, Ocala and Charlotte. Harbor Rail-
road Company" under an OrdiQanceSubmtt-
ting the question to the people and of record
in book of city ordinances pages Ei.2-;sand =.
paratus under an ordinance on that subject,
OF which the sum OF ten thousand dollars
shall be used in grading. sewering and drain
ing the streets of said city, of which the sum
nishing and supplying lights tn said city ana
OF which gross amount the sum of five thou
sand dollars shall be used I'm other general and
public improvements of the said city, and is
sue the bonds of said city to said amount Of
thirty five thousand dollars, securing the pay
accrue and plc1ging tho funds. credit and
property Q. said city for the redemption and
payment OF said bonds.
''FoR THE BONDS"
section Sd.
II said vote shall he in favor of creating the
council shall have the power and authority to
issue the said bonds in such amounts and in
such manner as they may see fit, to parties
from whom they may borrow for the purpose
bonds are not issued otherwise or for other
purposes than herein provided.
Passed ut the city council, january :, 1851
WI. VINEGAR,
President of the Council.
Attest: LOUIS FALK,
Clerk of the Council.
Approved. January 18th, 1885.
A. v. MOUNT. Mayor.