The Ocala evening star. [volume] (Ocala, Fla.) 1895-1943, 1899-07-21
AN ORDINANCE


Authorizing the issuance Of bonds by the Cit
o. Ocala, Flo. ida, for the purpose Of payinl
off and retiring the outstanding indebted
ness of said city, and to provide for thei
payment.
THE CITY OF OCALA:
Section 1. That the Mayor OF the City O
Ocals 1s hereby authorized and directed, upol
the passage and approval OF this ordinance Il
Clty of Ocata. an order as provided for IL
Sections and 81 of the Election Ordinance O
said city, approved March 2nd, 1893. fixing tn,
day for the holding OF a special election unde
tn. provisions of said election ordinance. tt
determine whether or not the issuance of tn,
bonds proposed by this ordinance to be issued
for the purpose hereinafter banned under anC
by virtue of the authority conferred upon The
Mayor snd City Conncil of said city, in IL ell
corporate capacity. by the provisions of al
act Of the Legislature OF the state of Florids
entitled. IAN act declaring the Boundaries o.
the territory constituting the municipality
known as the City Of Ocala. dividing the same
into wards, changing the time of holding
elections therein, and providing for The ap
pointment of certain officers the issuing 81
bonds and he assessment and collection 81
axes in said city approved June 18th, 1889
shall be At 20 id election authorized by a vote
Of ma ority Of the registered voters Of said
city.
Section 2. The Mayor and City Council OF
the, CITY Of Ocs Ia, in their corporate cal acity
shall issue from time to time bonds Of said
city, in denominations to be determined by
the said City Council, the principal of which
twenty years nor more than thirty years. the
aggregate face value of said bonds TO not, in
any event, exceed the sum Of tw.nty four
thousand dollars. Said bonds shall bar in
terest At a rate not to exceed six per cent. per
annuD to be fixed by ordinance which in
tarest shall be payable emf on such
days and at such places as the City Council
shall designate and determine by ordinance
to carry into { fleet the provisions of this or
dinance. Said bonds shall have in terest -cou-
pons engrave and attached. signed by the
city treasurer of said city. and payable az the
times and places to be Designated hereafter as
engraved under the direction Of the Mayor
and City Council of said city. and shall be
signed by the Mayor and City Clerk. and
sold at not less than par, and shall bn de
lfvered in amounts as the proceeds are eed-
ed for the purposes f this ordinance. and the
piled to the purpose for which said issue is
hereby authorized. and to no other purpose.
Section 8. The City Council shall levy ar
nualiy such special tax on ali the taxable
prop rty within the corporate limits of said
Of said bonds and the interest thereon, as may
b. necessary to pay the interest on said bonds,
and to provide S for , the paymnen, and retire
under the provisions of the ordinance here
after to be passed to carry into effect the pro-
visions Of this ordinance; and the said City
Council and the Mayor shall, from time to
time, require of the trustees of said bonds and
the agents handling the money to be raised by
ties for the fat thful Ie formsnce OF their
duties rs may be necessary 10 fully protect the
interests of said city. TIL. special tax for tho
payment of principal and intere t of said
bonds shall be payable only in lawful money
If the United States Of America, or = past due
coupons of said bonds, and when collected
shall be applied solely to the payment of the
interest on said bands and the prin,,pal
Thereof, a. the same shall may Lecome
due.
Section A. The BOARD Of trustees appointed
as tru-tefs Of the electric lighting bonds here
81 all be the trustees of the bonds hereby au-
thorized, aud their powers and duties in re-
lation to the bonds authorized by this ordi
dance shall be such IS are now PROVE ed by
law aid the o dinances Of this city, which
may be provided by an ordinance hereafter to
or as may hereafter be required or provided
by law or ordinance.
Section 5. This ordinance proposes and pro-
vides for the issuing OF bonds for she pu pose
of paying off aud Re firing any and ali judg-
pay ing OF and retiring ali outsts ndins bonds
of sa d city Of Its issue Of June oath, 1891, and
Of all other issues prior to January 1t, 1888,
of the City of Oeala, and for taking up, Ply
ing off and re iring all the floating eb'ed-
ness thereof. At the election to be held pur-
tinn of this ordiuan. e, the question to be sub
nitted to the registered voters of said city
shall be whether or not bonds of ~ id city
shall be issued, not to exceed in amount the
sum of tw nty -fotfr thousand dollars. for the
purposes set out IN this section of this Otdi-
nance, and each qualified electOr shall n ave On
opportunity to vOie for or against the issuing
of sa d bonds for said purpose; snd IT. by said
vote; the ISSUING of bonds hereby proposed
for the purpose herein set 10. tn, be author
lied said bonds shall then issue under the
d rectiOn of the Mayor and City Council, "a
hereafter yidfd.
the proceeds thereof shall he applied to the
pu pose hereby proposed, and to no other.
Section 8. The sale of said bonds by the
Trustees shall be p divided for bv the city Coun-
carry into effect the provisions OF this ordi-
nance; and said bond shall! be sold from time
to time as 1t may appear to the City Council
OIL der sale of -ame If the full amount OF the
tssue hereby authorized be declared by ordi-
nance at any time necessary. then the bonds
unsold and remaining in the hands of the
t-u~ tees shall be brought by them and sur
rendered to the City Council, and sha II be 10y
said city authorized by this ord nance, snd
by the said election hereby provided for. shall
thereafter be issued, sold or negotiated for
any purpose.
Section !. Said election shall be ordered ).
held and conducted in all respects under the
provisions of the ection Oh din .nce of said
city, pprO we'd March End. 1895, apple. BILE TO
special elections for the purpose of submitting
any question to the electors of said city for
their de tie rmin .tion.
Section $ Ali ordinances and parts of ordi-
Rances in conflict with the provisions of this
o dinance are hereby repealed.
Section 8. This ordinance shall take effect
immedta tely upon its passage and approval
by the Mayor; and the Mayor shall then pro-
coed with all due speed To carry same into
effect in so far as anything herein provided to
be done by him remains to be done.
Read the first time April Is. 1899
Read the second time june 81, 1899.
ho h F6 r. and Hn tod Inn 500
d. w DAVIS,
President City Council.
Approved July 18th. A. D.. 1899.
JNO. g. REARDON.
Mayor OF City OF Ocala.