The Ocala evening star. [volume] (Ocala, Fla.) 1895-1943, 1898-03-03

made underline provisions of the said ordi-
nance aaC til" amendments thereto: such re.
port must embrace detailed exhibit ~ all
coupons objected. received. pad or tak-n up
~ -ErA LhcrT or agent. stating particularly
TIC 'ajr NarH each coupon GH~ Hecu co. "ctcd.
l''.is Ia .'i'-H up "E PAD. ANA tho mum Ter OF
t.e bond from which the several coupons
a!" o'jac!rd. and the amount and
date Of maturity Of each: also statement
# all bonds redeemed. paid or purchased
with the number and amount Of each bond
and dat" Of redemption. payment OF purchase
and from whom received and the amount paid
for each, One OF said reports shall on or he
| lore the last G@y OF the sam" month be fled
with the City Clerk. ana the ether with the
cl"Ik OF the board OF trustees provided for in
sucl ordinance.
sc Il shall be the du'y Of the city
treasurer or other agent or officer receiving
or accounting for bonds or coupons redeem
paid or PuTcha- Led. l" cancel tn" same when
! received IN IN, presence OF the person from
whom he shall receive them. and to deliver
all such bonds and coupons 10 the said tIs,~-
tees together with his report above mentioned
each month.
SEC : TIE said treasurer. by and with the
advice and direction Of the said council. from
time 10 time shall apply all the moneys which
may come into his hands for the rcdemp-
ton or payment Of said bonds - the purchase
Of said bonds at their market value. or shall
under the SAM" direction invest the said
money in bonds of the United States. or the
STATE "f Florida. or a may seem 10 the coun-
ell most advisable.
seq. II shall i,c tn" duty Of the board Of
trustees of said bonds. on or before the 3lSt
day nI Drc"Inh.rof each and every wear to
! amount Of said bonds outstanding. with an
estimate" " the amount nece--tr ~ To lr raised
Tor interest," ana Tor The payne nj ot said bonds
which statement and estimate shall serve "a Il
basis OF assessment by the City Council for
! the ensuing year.
Sc. -. That the said trustees shall have
In" power. auG il shall b" their duty. to in
/ sPrct a their discretion. all books and ac-
counts If officers and agents of The City of
OcaIa charged III any manner with the en-
forc"mcnt OF any Of the provisions Of said or
and 10 enforce the proper performance. OF said
| officers and agents of their duties far as
holders Of said bonds. or 10 tn" faithful and
| Just and proper administration of the funds
collected or received by them for the payment
| OF tn" principal and interest e said bonds.
| SEC. II. For the additional protection of
| the holders of said bonds and the Spccdier
| redemption thereof. 1t Is further ordained
| That upon the failure Of the City Of ocala TO
meet any interest coupons. or principal OF
| said bpndS. within ninety days after maturity
and demand of payment, then the entire
electric lighting plant. for the erection of
and all other public property of the city cara-
| bic 81 producing revenue shall be taken into
possession, ned. operated and controlled
under the direction If the said trustees. and
! their successors. until the payment Of said
moneys due upon said bonds; and the rents.
| proceeds. issues and profits thereof, after
| paying the necessary and Legitimate expenses
| of operating the same, shall be by them turn
| ed over to the city treasurer on the account o
| redemption funds for said bonds to he appli-
| ed L" tn" payment of the principal and inter
! est of the same.
! Read the first time Jan 18th. 1855
II. X. SMITH.
President City Council pro tenn
Read the second time Feb. 1St 1895 Read
the third time and adopted Feb: 1st; 1875.
! lSEALI SIMON BENJAMIN.
President City Council.
&. II. CAMPBELL, Mayor,
Attest:-R. 9. BLAKE, City Clerk.