The Ocala evening star. [volume] (Ocala, Fla.) 1895-1943, 1898-06-10
AN ORDIN aNCE

AN UnulN aNGc
Authorizing TIN" issuance ot bonds by TIA"
city 81 Ocala. Florida. iUr tn" pUrpu~'. "f pay
imG of and retiring tn" outstanding indebted
ness Of said city. and 1" provide for their pay
mcnt.
Be- it ordained by tn" city council nf he city
section / That the mayor al the city Of
Ocala i hereby authorized and directed. upon
the pI--HS" and approval Of this ordinance.
- max and submit to the city council ~ tin"
city of Dcala. an order a. provided for in sec
lions and 81 If the election urdnaHc" II said
city approved March >. ls!'N. liking day for
tn" holding Of Il special election under the
provisions Of said election ordinance. To- de
t"rminr whether or not the issuance Of the
bonds proposed 10y this ordinance. to H., issued.
for the purpose hereinafter named. under and
10y virtue of the authority conferred upon thr
mayor and city council of said city. i'm their
cprppratr capacity. by the provisions Of an act
Of the legislature of the STATE, Of Florida en-
titled I'm act declaring the boundaries 81 thu,
territory constituting IN" municipality known
a. the city of Dcala. dividing the same into
wards. changing the tim" of holding elections
therein. and providing for tn" appointment Of
certain officers. tn" issuing Of bonds and the
assessment and collection OF taxes in said
city ap.rovrd June l. 1852 Shall IL. M said
election authorized 10y vote of It majority of
TN" registered voters Of said city.
sec. :. Tn" mayor aHd city council 81 the
city Of ocala. in their corporate capacity. shall
i-~u" from tim" To tim" bonds of said city. in
d"nnmina tiun- To toe determined 10y tn" said
city council. the principal of which shall bc
paVabic al the end of not less than twenty
years nor more than thirty years. the aggr,-
lrtt" face valu" Of said bonds to not i'm any
event exceed the sum Of twcnty-fnur thousand
dollars. said bonds shall bear interest at a
rat" not Ia exceed ~IN per cent. per annum. to
b" fixed 10y ordinance. which interest shall b,
payable ~rmi-Innually. on ~Ich days and at
such places a. the city council shall designate"
and determine hy ordinance 10 carry into
eject the provisions nf this ordinance. said
bonds shall have interest coupons engraved
and attached. signed 10y tn" city treasurer Of
laid city. and pryah" at the times ana places
To- I,. dc~i grated hereafter hcreinbcfor,. pro
lunI~
the direction Of the mayor and city council Of
said city. and shall D" signed lay the mayer
and the city clerk. and shall bear lh, seal uf
said city. and shall hc sold at not less than
pa and shall he delivered in amounts a. thu.
proceeds are needed for the purposes Of this
nrdn"n.r. and the proceeds Of sale uf said
bonds shall u" applied I" tn" rurp"~" FOR
which said ISSUE i hereby authorized. and L"
n" other l.Urp"~o.
$50 -; The city council shall levy annually
such ~. cial tax ON all th, TaNabl" property
V ithjn thu cnrpurut" limits "i said city. which
j. hereby pledged 40 IN" payment of "a a
bonds and the Interest thereon. "a may br nee
r~-ary To nay the interest on said bonds and to
prnvid" for tn" payment and retirement Of the
sam" when thy shall l"c"m" du" under TIA"
provisions ui The urdinanc" hereafter 10 To-
passed to carry into effect the provisions 81
this ordinance: and the said city council and
TIN. MAYOR shall from tim" L. tim" require. Of
lht tr,l~trC.- r. said bonds and the agents
handling The money 10 be raised 10y thu, sale of
said bonds. such bonds and security for tn"
faithful performance Of their duties may Dr..
n,.n--.iry 1" fully protect the interests nf said
ripHl aud interest Of said bonds shall b" pay
able only IN lawful money of the United states
81 lm"rirI' mr ~ past du" COUPONS 81 Inid
-ulc!! t. In" payment Of IN" interest an said
bonds aud tn" principal thereof a. tn" same.
shall car may hcCom" due.
$50 l. The board 81 trustees apppiuted ~
trustees of the electric Lighting bonds hereto
for" authorized and issued 10y said city. shall
b. tine trustees Of the bonds hereby authorized.
and their powers and duties ia relation 1" tn"
bonds authorized by this ordinance" shall! hc
such are now provided by law and the nrdi-
nanC"- of this city. or which may Toe provided
hN an ordinance. hereafter To b'. passed To-
carry into effect this ordinance. or n may
hereafter b required or provided 10y law or
djnanc".
SEQ -. This ordinance. proposes and provides
for Iu, issuing Of bonds for the puru'-'. q
/ IN" "li ana rrllrInE any ana aH Judgment :
against said CITY 81 bcHlit. amt Tor paying nii
and retiring all outstanding bonds Of said
city Of IL i>-u" OF June - lNI and of all ~ her
issues prior To- January ]. l>!'~. AMI any and all
outstanding and unpaid scrip 81 tn" city 81
Dciila. and for taking Up. pay ing OF ana r"tir-
ing all the noatiuE Indebtedness Thereof. ~
Ia" election L. j." held pursuant - I'll" "rd"r
mentioned in the first section Of thi- "rdi-
nance. the question I" lr submitted - the reg
i-tcrcd voters of said city shall he whether or
not bonds Of said city shall b" issued. not Z"
exceed in amount the sum Of twcnty-fuUr
. Thousand dollars. for the purposes set out in
this section Of this ordinance. ana each quail
fled "l"ctur shall haN" an opportunity I" N"t"
for or against thu issuing OF said bonds for
said purpo-,.: and if 10y said vote th,. issue Of
. I,rI- hereby r,rnur-,.L> moi 10 exceed th,.
amount herein named. and for the purpose
herein st forth. b. authorized. said bonds
. shall then issue under the direction Of the
mayor and city council. a. herein and may
b. hereafter provided. and tn" proceeds thereof
shall bc applied to tn" purpn-" hereby pro
posed and 10 no other.
! sec. tt. Thr sale Of said bonds 10y the trustees
shall Ice provided for 10y the city council in tn"
ordinance hereafter 10 bc passed L. carry intC
effect tho. provisions of this ordinance. and
- i'll bonds shall ir sold from time To time IL il
may appear Jn the city council necessary for
the purposes Of this ordinance 10 order ~ai. Of
same. If the fu.I amount of III" i>~U" hereby
authorized &c declared by ordinance al any
remaining in the hands al the trustees shall
f. h,. brought hy them and surrendered u tn
city council. ana snail hc 10y said CitE council
destroyed. ami no uEdS Of aid city author.
! lied by This ordinance and 10y The laid election
! hereby provided for shall thereafter -" issued
! sold or NEGOTIATED for any purpose.
| sec. = said election shall! hr ordered. held
! and conducted i'm all RESPECTS under the pro
! approved March, md l~'N, app. cable. 70 -p"cIa
! elections for TN" purpH-" oi submitting any
question % rL'. electors "t said City Tor ih"Il
I d"t"rTn ina'i"u.
] SO. :. All ordinances ana parts 90 ordinun
CO. % conflict VIII '" prnvI-i n u This u!ii
| name" ."t- .-r~'. G.p"a."U.
- 90. This .~iinnHc" shall - X" '.tf""' i'm
/ m"dta'-'y Hl.u IL pr~~a-'. and approval )
I tH,. Mayor. .i..t ri.. Mayor shall then Irnc'r,
wI'. nl t... -!.-d r. carry -aul" INFO .;''rr n
-, any '..Il.- ..''En provided ?" ie. dom
. -v .i.u remains -" boz done.
/ R,..,,l -a.. iir-' -iu4,- Apri. t.. l--'-.
! E..s.j -.,. second '."- May -. l~'~
+ E"tr! -..~ '...a '.-.' and Adopted NaE l"t-
. I-.- SIMON BI\fANl%.
+ .-FtL! President Try Council.
Approved May -. r.H.cANrBELL.
Nuyuruf C5fy 90 Or.ila.