The Ocala evening star. [volume] (Ocala, Fla.) 1895-1943, 1899-08-11
AN ORDINANCE

AN UhDl NANCE
Authorizing the ISSUANCE Of bonds by the City
o. Ocala, Flo. ida, for the purpose of paying
Off and retiring the outstanding indebted
payment.
BE ORDAINED BY TIE CITY COCNCIL OF
THE CITY OF OCALA:
Section L. That the Mayor OF the CITY of
Ocala Is hereby authorized and directed upon
the passage and approval OF this ordinance to
make and submit to the City Council of the
City OF Ocala. an order as provided for in
Sections and 81 of the Election Ordinance OF
said city, approved March 2nd, 1858. FIXING the
day for the holding OF a special electio under
the provisions of said election ordinance to
determine whether or not the issuance OF the
bonds proposed by this ordinance to be issued
for the purpose hereinafter named under and
by virtue of the authority conferred upon the
Mayor nd City Connect of said city, in tt cir
corporate capacity. by the provisions of an
act of the Legis AZURE OF the state of Florida
entitled, AN act declaring the boundaries Of
known as thu City tf Ocala. dividing the same
into wards, chang ing the time of holding
elect ions therein, and providing for the ap
DOin tment of cer'ain officers. the issuing Of
bonds and the assessment and collection of
axes in sal ! city approved June 18th, 1889,
shall be at ssid election authorized by vote
| of majority of the registered voter Of said
citv.
Section 2. The Mayor and City Council OF
the City OF ocala in their corporate capacity;
shall issue from time to time bonds of said
CITY, in denominations to be determined by
| the said City Council. the principal of which
shall be payable at the en- 1 of not less than
twenty years nor more than thirty years. thu
aggregate face value Of said bonds to not, In
any event, exceed the sum ef tw|rty four
Thousand dollars Said bonds shall ar in
terest at a rate not to exceed six per cent. per
annum, to be fixed by ord nance which in
t-rest shall be payable semi annually. on such
days and at such places as the City Council
shall designate and determine by ordinance
dinancs SAID bondl have in teres n'S cou
pOns engr, We and attached, signed by the
city treasurer of said city. and payable at the
times and p aces to he designated herea fter as
| hereinbefore provided Said bonds shall be
engraved under the direction of the Mayor
and Ty G ;hs of said aid civ and shall be
shall bear the seal of 81 id city, and sh all be
| sold at not less than par. and shall be de
| ed for the purposes If this ordinance. and the
| proceeds Of sale Of eaid bonds shall be ap
piled to the purpts for which said Issue is
| h. reby authorized. and to no other purpose.
Section 3. The City Council shall levy an
| nually such special tax on all the taxable
prop-r'y within tn. cNrporAte limits of S id
y. which i! h ereby pledged 70 the payment
| of sa id bonds and the inte"e there II, as may
b. necessary to pay he Interest on said ,nds,
ment of the same when they shall become due
under til. provisions Of the ordinance here
after to be passed to carry into effect tie pro
visions of this orc nance; and the said City
Council and the Mayor shall, fr ON tirrc to
time, require OF the trust es of said ,nds and
the agcut1 handli lg the money IT, be raised 10y
| the sale of ssid n! Is such bonds aud sccuIi-
tbs for the fai thful Ic'formancc o. their
duties as may be necessary 10 fully protect the
| interests of aid city. Til specialt. f"I the
| payment IF principal and int" Of said
| bonds shall be payable only in lawful money
courCn' of said ondS. and " hen collected
shall be spp'icd solely to tn. payment of the
interest on said mis- and the prin pal
thereof, as the same shall may Lecomc
due.
Section +, The board cf trustees appointed
| as trustees Of NE electric lighting b NOS here
tor Ipd Il MEET nv i'll nJs
| shall be the trustees e the b ,rds hereby au
thorize q, ard thei powers and duties in re
| latiO n to the bonds authorized by THIS ord:
dance snail be Such as are now rrtvl ed by
| law and the o dnsnces of his city, or which
may be provided by an ordinance hereafter to
| be passed to carry INTO effect this o~d,nanc-,
| or as may herea ter b. required Or provided
by law or ordinance
Section ). This ordinsnc" prop rscs and pro-
vides for the issuing OF bonds for the pu pose
! of paying off a"d re ing any and al jndg-
| mel is against ST. CITY # DC la. ard f r
pas ing Off and ret ring all Cutst nding bonds
of sa q y Of It's issue Of June 2ith, 1891, and
Of all other issues prior to Janna lS!S,
and any AID all outstanding and u"p'd scrip
| of the City of OcaIa, and for taking up, y
| inS off al q re iring all the floating ind h cd
| ness there' f. At the election to be held pu~-
| suart to the order men tione d i'll the fl rst Sc
ti"n cf this o'diran e the 4ue-ti' II to b. sub
| IT tilted to the regst' red voters CT said city
sha be whether or not bonds of ~ id city
shall be issued. not tt exceed in amount the
| sum Of tw nty- four hou- ani dollars, + the
| purr"s set out II this s. elton Of this g." dl-
| nance, and each qualified electOr Shali II Ell
| opportunity 10 for or Il 2ralr st he issuing
| of sa d bonds for 80 i'll purpose snd #. hy said
| vote the issuing of bonds II r"bP l,ronOs"d.
| not to exceed the amount herein named. and
! for the pu pos herein set foi til. be author
| q rectt"n of the Mayor and City Council. aa
| lere II and : : may be h reafter provided, and
| the proceeds thereof shall he applied to the
| pu~posc hereby proposed, and TO co other.
| Section Is. The sac of said bonds 10y the
thu tees shall be provide Il FOR bv the City Coun-
ell il 81 ordinance hereafter to ha passed to
l 81;