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

An ordHanc" TO carry into effect the pro-
visions Of an ordinance entitled. An ordi-
nance authorizing the issuing of bonds by the
City OF ocala. Florida. for the purchase and
erection OF an electric lighting plant for
said city. and 10 provide for their I,avment.''
passed and approved November 9th. 1877
Whrreas undSr and by virtue Of the pro-
authorizing the issuing Of londs by the City
Of Ocala, Florida. for the purchase and erection
OF an electric lighting plant for said city. and
to provid" for their payment" approved No
velnber 9th. 1897. an election held in the
several wards Of the City Of Ocala on the 18th
day Of December, \. d. 1897. 10 determine
whether or not the issue OF bonds proposed by
said ordinance, or any part thereof. should be
at that time approved by majority of the
registered voters Of said city. qualified 10 vote
at said election. and thereby authorized;
And whereas. in and 10y said ordinance the
issuance Of bonds 70 amount not exceeding
sixteen thousand dollars provided for,
and the purpose for which said issue # bonds
slOuld be used is expressed in general terms
iAnd whereas. at said election. so held on the
18th day of Decem Der. A. ID. 1897 the issuance
Of bonds for the purpose mentioned amounting
TO sixteen thousand dollars, in and by said
ordinance provided for. was approved by
majority vote of the registered voters Of said
city, qualified 70 vote sa election:
And whereas. at n meeting of the city council
of said city on the 2lst day Of December. ls31
from the canvass of the returns OF the inspect
Ors and clerks of said election. it was declared
by said city council that the result OF said
election was TO authorize said issue Of bonds.
Now. Therefore. be il ordained by the Mayor
SECTION /. That the Mayor of the City of
Ocala. the president Of the City Council and
the chairman Of The financ" committee of said
city council shall have engraved three hun
drcd and tN<enty q per cent coupon bonds of
the City Of Ocala, TO he known az Electric
Lighting Bonds of the City of Ocala 10 the
amount of sixteen thousand dollars Each Of
said bonds To be of the denomination of fifty
dollars TO be dated on the day of issue and
payable "a follows: All OF said bonds payable
October 1St. 1918 and To bear interest at i per
cent per annum. payahl" scmi,annually at the
with engraved interest coupons attached
thereto payable at the end of periods of six
months from the dat" of said bonds. Said
bonds shall be signed by the Mayor and city
clerk. and shall bear the corporate seal of the
City of Ocala. and tn" coupons shall bear the
engraved signature of the city treasurer
Both principal and interest shall be made
payable in United States gold coin.
Seq. That the three trustees provided for in
and by sec ton four of said ordinance entitled
AN ordinance authorizing he issuing of bonds
by the City of Ocala. Florida for the. purchase
said city; and I" provide for their payment.
approved November 9th. 1891. and their sue
cessorS in office shall be officially known and
designated as trustees for the electric lighting
bonds of the City of Ocala. said board #
trustees shall adopt and use II common seal.
SEC. 3. That said bonds shall he made pay
able To bearer. and shall be delivered hv said
trustees only after being counterSigned 10y the
cha irman and clerk of said board. with their
seal attached. and only after aid issue or de
livery of said bonds by said board shall have
been authorized by an ordinance adopted by
the city council of said city: whcrcupon said
bonds shall become payable TO the bearer
thereof. said bonds shall be. soon as en-
graved, delivered To the said boa rd of trustees.
1t shall be the duty Of the said trustees to
receive the "a i'll bonds and to sell the same at
not less than par, IA the sale thereof shall
from time To time be authorized by ordinance
adopted by said city council; and when any
bond is sold or issued by them they shall reg
lister the same in Il book to be- kept for that
purpose.
SEC. l. That said bonds and the coupons
attached shall he in the following words and
figures the blanks left for the number of each
To be filled in as the number of the bond may
render necessary.