The Ocala evening star. [volume] (Ocala, Fla.) 1895-1943, 1898-02-17

made underline provisions Of the said ordi
nance and the amendments thereto: such lie
coupons collected. received. paid or taken M
10y such officer or agent. stating Ia rticuIarlI
the date when each coupon has been collected
received taken up or paid. and the number al
the bond from which the several common.
are detached. and the amount and
date of maturity of each: also a statement,
Of all bonds redeemed. paid or purchn sed
with the number and amount of each bond
and date OF redemption. payment or purchase
ana from whom received and the amount paid
for each. One of said reports shall on or he.
fore the last day of the same month be filed
with the City Clerk. and the other with the
clcrk of the board of trustees provided for in
such ordinance.
SEC :. 1t shall he the duty of the CITY
treasurer. or other agent or officer receiving
or accounting for bonds or coupons redeemed
PAID or purchased. To cancel the same when
received in the presence of the person from
Wn"m ne snail receive them, and to deliver
all such bonds and coupons To the said trus-
tees together with his report above mentioned
each month.
SEC. s. The said treasurer by and with the
advice and direction OF the said council, from
time to time shall apply all iii. moneys which
may come into his hands for the rr,lemn-
ton or payment of said bond, to the purchase
of said bonds at their market value, or shall
under the same direction invest the said
money IN bonds OF the United states. or the
state of Florida. or rIay seem to the cour-
ell most advisable.
SEC.a. 1t shall be til" duty or the board Of
trustees of said bonds. or before the 3lst
day OF December If each and every year to
report to the City Council the number and
amount of said bonds outstanding. with an
estimate OF the amount necessary Ia IL. raised
Tor interest and for the payment Of said bonds
which statement and cStima shall serve as n
basis of assessment by the CITY Council for
the ensuing year.
SEC. IN. That the said trustees shall have
the power. and il shall bc tier duty to in
spcct at their discretion. all books aH.i ac-
counts of officers and agents of the CRY of
Ocala charged in any manner with the en-
forc"mcnt of any of the provisions of -aid or
dlnance. and To require reports from Them
ana 10 enforce tine proper Performance. q. said
officers and agents of their duties 20 far as
they relate i'll any wise to the interests 81 the
holders of said bonds. or TO tn. f.tth.cI and
Just and proper ndminiSt ration Of t':e funds
collected or received 10y them for the ~ ,mcnt
of the principal and interest Of said bonds.
SEC. II. For the additional protection of
the holders of said bonds and the -, .dier
redemption thereof. II * further nria ned
That upon the failure of the City az oca.a to
meet any interest coupons. or principa of
said bonds. within ninety days aftcr maru rity
and demand of payment, then the entire
electric lighting plant. FOR the erection of
Whsch said bonds issued. The pIblic market
ana all other public property Of the city ct..a-
be q producing revenue shall H.. taken in to
possession. held. operated and controlled
under the direction of the said trustees ~ Il
their successors. until rhe payment of "a 4
moneys due upon said bond: and the rent
proceeds. issues and profits thereof. afte-
paying the necessary and l"g!timIt. EXPENSE
of operating the same. shall tie 10y them turn
ed over to the city treasurer on the account Of
redemption funds for SAID bonds. u II, arpIi-
ed To the payment Of the principal and inter
est OF the same.
Read the first time Jan 18th. ISIS
II. X. SMITH,
President City Council. pro TEN.
Read the second tine Feb. LIST. lsss. Read
the third time and adopted Feb, 1st: 1898;
[ sEALl SIMON BENJAMIN.
President City Council.
9: H. CAMPBELL Mayor,
Attest:-R. q. BLAKE, City Clerk.