The Ocala evening star. [volume] (Ocala, Fla.) 1895-1943, 1899-08-04
AN ORDINANCE

Authorizing the issuance OF bonds by the City
o. Ocala, Flo. ida, for the purpose of paying
Off and retiring the outstanding indebted
ness of said city, and to provide for their
payment.
BE 1T ORDAINED BY THE CITY COUNCIL 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 bmit 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 End. 1898 fl ring the
day for the holding OF a special election 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 pur pose hereinafter named under and
by virtue of the authority Inferred upon the
Mayor snd City Council of said city, in their
corporate capacity. by the provisions of an
act of the Legislature of the state of Florida
entitled, AN act declaring the boundaries of
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 sp..
pOintment of certain officers. the issuing of
bonds and the assessment and collection Of
taxes in said city" approved June 4th, 1889,
shall be at "a id election authorized by q vote
of majority of the registered voters of said
CITY.
Section 3 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
twenty years nor more than thirty years. the
aggregate face value of said bonds 30 not in
vea the SUM sum Of
terest at a rate not to exceed six per cent. per
annum, to be fixed by ord nance which in
terest shall be payable semi annually. on such
days and at such places as the City Council
shall designate and determine by ordinance
to carry into effect the provisions of this or
dinance. Said bonds sha have interest cou
pons engraved and attached. signed by the
city treasurer of said city. and payable at the
.
hereinbefore provided. Said bonds shall be
engraved under the direction OF the Mayor
BY he May of sd civ dy Gerk
shall bear the seal of said city, and shall be
sold at not less than par. and shall be de
| ed for the purposes If this ordinance. and the
proceeds of sale of said bonds shall be ap
hereby authorized. and to no other purpose.
| Section 8. The City Council shall levy an
| nualIy such special tax Oh all the axable
ely, which il hereby pledged 70 the payment
OF ga id bonds and the interest thereon, may
BE- necessary to psyth interest on said bonds,
and to provide for the payment and retire
ment of the same when they shall become due
under the provisions of the ordinance here
after to be- passed to carry into effect the pro-
visions of this oIcinance; 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
the sale of "A id bonds. such bonds and securi-
| ties \for the faithful performance OF their
| interests of said city. The special tax for the
payment of principal and interest of said
! OF the United states OF America, or in past due
coupons of said tonds, and when collected
shall be applied solely to the payment Of the
interest on said bonds and the prin :ipal
thereof, as the same shall or may become
due.
Section 4. The board of trustees appointed
as trustees OF the electric lighting bonds here
tOfore authorized and issued by said city,
shall be the trustees of the bonds hereby au-
| lation to the bonds authorized by this ordi-
dance shall be such now pr6vic ed by
| law and the ordinances of this city, or which
may be provided by en- ordinance hereafter to
| be passed to carry INTO effect this ordinance,
or as may hereafter be required or provided
| by law or ordinance.
Section ). This ordinance proposes and pro-
vides for the issuing of bonds for the pu pose
| of paying off and retiring any and ali judg-
paying off and retiring ali outstanding bonds
Of said c.y of its issue of June oath, 1881, and
of all other issues prior to January 1T, ls',S,
and any and all outstanding and unpaid scrip
of the City Of Ocala and for taking up, pay
| ing off and retiring all the floating indie bled
ness thereon. At the election to he held pur-
suant to the order mentioned in the first sec
ton of this ordnance the question to be sub
mitted to the registered voters of said city
shall be whether or not bonds of said city
shall be issued, not to exceed in amount the
| sum of tw, MY four thousand dollars, for the
purposes set out in this section of this Ordi-
nance and each qualified electOr shall have an
opportunity to vote for or against the issuing
OF Sa1u DouuS Tor Sa1u purpose anu H. by S6lu
vote, the issuing of bonds hereby proposed,
not to exceed the amount herein named. and
for the purpose herein set FORTH be author
lied, said bonds shall then issue under the
recttOn Of the Mayor and City Council, as
here II and as may be hereafter provided, and
the proceeds thereof shall be applied to the
purpose hereby proposed, and to no other.
Section &. The sale of said bonds by the
trustees shall be provided for by the City COun-
ell in ordinance hereafter to be passed to
carry into effect the provisions OF this ordi-
nance and said bonds shall be sold from time
to time as 1t may appear to the City Council
necessary for the purposes of this ordinance to
order sale of same If the full amount of the
issue hereby authorized be declared by Ordi-
nance at any time necessary, then the bonds
unSOld and remaining in the hands of the
trustees shall be brought by them and sur
rendered to the City Council, and shall be by
said City Council destroyed. and no bonds of
said city authorized by this ordinance, and
by the said election hereby provided for. shall
thereafter be issued, sold negotiated for
any purpose.
Section :. Said election shall be ordered
held and conducted in all respects under the
provisions of the e'ectiOn ordinance of said
city. approved March End. 1898, applicable to
special elections for the purpose of submitting
any question to the electors of said city for
their determination.
Section 5. Ali ordinances and parts of ordi-
nances in conflict with the provisions of this
ordinance are hereby repealed.
Section 8. This ordinance shall take effect
Immediately 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 80 far as anything herein provided to
be done by him remains 10 be done.
Read the first time A pril u. ls99.
Read the second time June %, 1899.
Read the third time and adopted July Z. 1890. |
D. W DAVIS.
President City Council
Approved July 18th, A D.. 1899
JNO, g. REARDOE.