The Ocala evening star. [volume] (Ocala, Fla.) 1895-1943, 1898-02-12

made under the provisions of the said ordi-
nance and the amendments thereto: such Ie
port must embrace IA detailed exhibit of all
coupons collected. received. paid taken up
10y such officer or agent stating particularly
Tn" date when 'ach coupon has been collected.
c'iErd taken up or paid and the number of
the bond from which the several coupons
! are detached and the amount and
dat" Of maturity Of each: also "A statement
81 all bonds redeemed. paid or purcha Sed
with the number and amount of each bond
and date Of redemption PAYMENT or purchase
and from whom received and the amount paid
for each One OF said reports shall on or I've
tore III" last day OF the same month be filed
with the City Clerk. and the other with the
clerk 81 the board of trustees provided for in
such ordinance
SIC :. 1t shall De- the dl:ty of the city
treasurer or "t 1''r agent or officer receiving
or accounting for bonds or coupons redeemed
laId or purchased, Z" cancel the same when
rrc''iN'u IN the presence OF the person from
whom he shall receive them. and To deliver
all such bonds and coupons t. the said trIS-
tees together with his report above mentioned
each month.
So :. The ~9id treasurer. 10y and with the
-, yic,. and direction of rhc said council fror,
time 10 tiIur shall apply all the moneys which
may come into his hands for the rcdemp-
ZION or payment IF said bonds la the purchase
under to" >..u.. direction invest the said
mcn.'y in bonds Of the United States. or the
HtHt" 81 Fi"ri''a. or a. may seem 10 the coun-
ell most advisable
SEC" II shall h. the duty Of the board If
trustees 81 said i"nd>. on or before the 3ISr
day ~ December 'f each and every year
report - Ia" Gig Council In" number and
amount of said bonds outstanding. with an
estimate OF IT," amount necessary To- Ice raised
for Interest and for the payment Of "a id bonds
which statement and estimate shall serve a. a
la-i~ al assessment ~ the City Council for
the ensuing year.
-. I". That the said trustees Shall have
the power. ana IL shall IL, their d;ry. 10 in
~'"ci At their discretion. all hooks and
counts Il officers ana agents uf the City of
pcala cha r--'-'i ia any manner with the en-
f"rccEI"nt of ANY of the provisions of said or
dlnanc". AMI To require reports from them.
an: 10 enforce the proper p"iforma nee of said
Officers and agents Gf their duties 20 far AZ
they relate IN any wise Ia Tia" interests Of the
EC4'i' r. III SAID bonds. or 10 the faithful and
iU~i anG pru'.rr admins ration of the funds
COLLECTED "r received ly them f"r the payment
81 in' principal and interest IF said bands.
So. II. For tn" additional protection of
Inc holders 81 said bonds and the ~l..rli.r
redemption thereof II i further ordained
That upon the failure # the City of ocala IA
NEE; any interest cbIppn~. OF principal Of
said bonds. within ninety days after maturity
and demand "f payment. then the entire
electric lighting plant. for the erection OF
which said bonds issued. the uU!,lc market
ami ;'l other Publi" property "f the city caI.-
III" 4 producing revenue shall l." taken into
po~~''>-!n held. rated and controlled
unc;"r TIA" direction of the said trustees. and
their successors. until tn" payment of said
moneys due upon said bonds: and the rents.
proceeds. issues and profits thereof. after
paying IN" necessary ami Legitimate expenses
of operating TN" same. shall bc lay them turn
eel over To- the city treasurer on the account IF
redemption funds for said bonds. to II. appli-
cd L" tn" payment of tn" principal and inter
"-i nf the same
Read the first time Jan. 18th. ISIS.
ii. X. SMITH.
President City Council pro tenn
R"ad the second time Feb. LIST. 1898. Read
in" third time and adopted Feb. LIST. ls.s.
lsEALl SIMON BENJAMIN.
President City Council.
Approved Feb ID. ISIS.
q. II CAMPBELL. Mayor.
AttcSt:-R- G.. BLAKE. City Clerk