The Ocala evening star. [volume] (Ocala, Fla.) 1895-1943, 1898-02-05

port must embrace q detailed exhibit of all
coupons collected. received. paid taken up
y egch nlicrf or agent. stating particularly
the date when each coupon has been collected
received. taken up or paid. and the mum Der Of
the bond from which the several coupons
are detached. and the amount and
date Of maturity Of each; also a statement
Of all bonds redeemed. paid or purcha -ed
with the number and amount Of each bond
and dat" OF redemption. payment or purchase
and from whom received and the amount paid
for each: One of said reports shall on or be
fore the last day Of the same month be- filed
with the City Clerk. and the other with the
clerk OF the board OF trustees provided for in
such ordinance.
SIC : II 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
whom he shall receive them. and To deliver
all such bonds and coupons 10 the said trus-
tees togt th"r with his report above mentioned
each month
SEC ;. The said treasurer. by and with the
advice and direction of the Sa id council. from
time 10 time shall apply all the moneys which
may come into his hands for the redemp-
ton or payment Of said bonds TO the purchase
of said bonds al thci market value. or shall
under the same direction invest the said
money in bonds Of the United States. or the
state Of Florida. or "a may seem 10 the coun-
Gil most advisable.
SEC Q. Itsha!l be the duty Of the board If
day OF December # each and every year 70
report 70 the City Council the number and
amount of said bonds outstanding. with an
:
for interest and for the payment of said bonds,
which statement and estimate shall serve as a
basis of assessment by the City Council for
the ensuing year.
SEC. 10. That the said trustees shall have
the power. and II hall bc their duty. To- in
Spect at their discretion. all hooks and ac-
counts Ot officers and agents Of the City of
Ocala charged in any manner with the en-
forccmcnt of any of the provisions of said or
dlnancc. ana 10 require reports from them.
ana 10 enforce" the proper performance of said
officers and agents of their duties 20 far
II. te "A In ivrs -h..
holders of said bonds. the faithful and
Just and proper adminiSt ration of the funds
collected or received 10y them for the payment
of the principal and interest of said bonds
SEC. II. For the additional protection of
the holders Of said bonds and the sIccdier
redemption thereof. 1t i further ordained.
That upon the failure Of tn" City of Ocala To
said bonds. within ninety days after maturity
and demand of payment. then the entire
electric lighting plant. for the erection of
which said bonds IS sued. the public market
ana MI other public property of the city cara
bic If producing revenue shall lie taken into
possession. held. operated and controlled
under the direction Of 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 10 tn" city treasurer on the account of
redemption funds for said bonds. To he appli-
ed To tn" payment Of the principal and inter
est Of the same
Read the first time Jan 18th. ISIS
Read the second time Feb LIST. lS9s Read
the third time and adopted Feb. Isl. 1895.
lSEAL SIMON BENJAMIN.
President City Council.
&. II. CAMPBELL, Mayor,
Attest:-R &. BLAKE. City Clerk.