The Ocala evening star. [volume] (Ocala, Fla.) 1895-1943, 1899-07-28
AN ORDINANCE

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 1. That the Mayor OF the City Of
Ocala Is hereby authorized and directed, upon
the passage and approval of this ordinance to
City of Ocala. an order provided for in
Sections 6 and 81 of the Election Ordinance OF
said city, approved March 2nd, 1898. fixing the
day for the holding Of q special elec ton 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 and City Conncil of said city, in T. cir
corporate capacity. by the provisions of an
act of the Legislature OF the state of Florida
entitled. AN act declaring the boundaries Of
known as TIL. CITY Of OcaIa, dividing the same
into wards, changing the time of holding
elections tn REIN and providing for the ap-
bonds and the assessment and collection Of
taxes in said city approved June 4th, 1882,
of q majority of the registered voters of said
city.
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
all be payable at tt e en1 of not less than
aggregate face value of said bonds To not. in
any event, exceed the sum of twenty four
thousand dollars. Said bonds shall b ar in
terest at a rate not to exceed six per cent. per
annum, to be fixed by ordinance which in
t.rest shall be payable semi annually. on such
days and at such placea as the City Council
shall designate and determine by ordipance
to carry into fleet the provisions of this or
dinance. Said bonds shrli have in .erest cou-
o,,6 I,n@
city treasurer Of said city. and payable a. the
times and p aces 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
shall bear the seal of said city, and sh al be
sold At not less than par, and shall be de.
ltvered in amounts as the proceeds need
ed for the purposes Of this ordinance. and the
proceeds OF sale of said bonds shall be SD
piled to the purpose for which said issue is
hereby authorized. and to no other purpose.
Section 8. The City Council shall levy an
nually such special tax on all the taxable
properly within the corporate limits Of said
city, which il h 'reby pledged 20 the payment
Ct said bonds and the interest there II as may
and to provide for the payment and retire
ment of the same when they shall become due
under III provisions of the ordinance here
after to be passed to carry in-O effect the pro-
visions of this OI oinance; and the said City
Council and the Mayor shall, from time to
tima requir re- Of the trustees OF said bonds and
the agents har Hing the money to be rs ised by
the 81 lie of said bonds, such bonds and seruri-
ties for the aithful performances OF their
interests of laid city. TIL spec ial tax for the
payme Of principal and intere Of said
bonds shall be payable only in lawful money
of the United States o, America, or in past due
c"upons of aaid toHds. and when collected
shall be applied s"Iely to the payment Of the
intereat on said .nds and the pGin :pal
thereof, as the same shall may lecome
due.
Section 4. The board Of trustees appointed
as trustees OF The electric lighting bonds here
tOfor- authorized and issued nv said CITY
Shall be the trustees of the bonds hereby a-
thOriZe d and their powers and duties in re-
IatiOn to the bonds authorized by this ord
dance shall be such as now prGyi. ed by
law and the O. dinances Of thia city, or which
may be provided by an ordinance hereafter to
be passed to carry INTO effect this ordinance,
or 81 may hereafter be required or provided
by law or ordinance
Section = This ordinan nee proposes and pro-
vides for the issuing OF bonds for the pu pose
ments against sad City of .OcaIa. and FIR
pay ing off and retiring all cutst ,nding bonds
Of So city of it's issue of June 9th. 1854, and
OF all other issues prior to Janua.y lat. 1898,
and any and all outstanding and unpaid scrip
of the City OF Ocaia, and for taking up, pay
ness thereof. At the election to be held pu,-
suant to the order mentioned in the first sec
ti"n of this ordinan e. the que stion to be sub
mitted to the registered voters of said city
shall be whether not bonds OF So id city |
shalt be issued not to exceed in amount the
out IN this section of this ordi-
nance. and each qualified elector shall h ave an
opportunity To vote for or against the issuing
OF said bonds for said purpose: and if, by said
vote. the issuing of bonds thereby 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
recsion OF she Mayor and City Council, az
here and IS may be hereafter provided, and
the proceeds thereof shall be applied to the |
pu pose hereby proposed, and to no other.
Section q. The sac of said bonds by the
trustees shall be provided FOR bv the City COun-
ell in IN ordinance hereafter to be passed to
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
Oh der sale of came II the full amount OF the
Issue he reby authorized be declared by ordi- |
nance at any time necessary, then the bonds /
unsoid and remaining in the hands Of the |
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 aid election hereby provided for. shall |
be issued, sold or negotiated for /
any purpose.
Section I. Said election shall be ordered, |
held and conducted in all respects under the |
provisions of the ection ordinance OF said /
city. approved March Ind. 1898, applicable to |
special elections for the purpose Of submitting |
any question to the electors of said city for 1
their determination.
Section 8. Ali ordinances and parts of ordi. |
names in conflict with the provisions of this |
dinance are hereby repealed.
Section 9. This ordinance shall take effect |
I'm med'ately upon its passage and approval !
by the Mayor; and the Mayor shall then pro-
ceed with a. due speed to carry same into
be done by him remains 10 be done.
Read the first time April 49, 1899
Read the second time June ~. 1909.
Read the third time and adopted JuIy 1899.
President City Council.
Approved July 18th, A. D.. 1899.