The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1906-01-20

% 1905, at which election said or
dinance and the issuance OF improve
ment bonds of the City of Pensacola
as provided in said ordinance and in
said act of the Legislature were duly
approved by the majority of the votes
cast by the qualined voters of said
CITY then residing in said City, ana
who had paid taxes on real estate or
personal property to said City for the
year for which taxes were last due,
such vote ing in favor of the issu-
ance OF sa improvement bonds for
each and all OF the purposes and
amounts specified in ami proposed by
said ordinance Of July 10, 1905; and,
WHEREAS, said Act of the Legisla-
ture of May u, 1905, provides among
other things that the Bond TRUSTEES
shall recommend to the Council the
form of bonds to be issued and shall
attend to the engraving of said bonds
as may be provided by ordinance of
the City and shall receIve said bonds
as soon as the same are prepared ana
executed. and shall thereafter nave
the care ana custody thereof until the
the same are sold, and shall receive
and control all moneys arising from
the sale of said bonds and faithfully I
apply the same as may be directed by
resolution or ordinance of the Coun- I
ell, solely for the purpose for which /
said bonds were authorized; and.
WHEREAS, the City Council. as
provided in said Act of MAY u, 1905, /
has duly elected as a Boar2' of Bond
Trustees three GO duly qualified
voters of the City, who own real es-
tate therein. such Board of Bond |
Trustees being composed of the fol-
lrwing men. to wit: l.. Hilton Green. /
J. NJ. Pfe'ffer and w. K. Hyer, Jr., !
which said Trustees have duly quail /
fed by giving bonds and taking oaths
o; office and otherwise as prescribed /
By said ordinance of July 10, 1905. /
and the other ordinances of this City
and the laws of this State. and said
Board Of Bond Trustees has recon-
mended 10 this Council that the form
of said bonds shall be such as is here
matter provided in Section hereof,
NOW, THEREFORE,
BE 1T ORDAINED by the Mayor
and Council of the City of Pensacola:
section /. That the Board of
Pond Trustees of the City of Pensa-
.
and directed to have engraved cou-
pom bonds of the City of Pensacola,
to be known as Improvement Bonds
of the City of Pensacola, Florida TO
the amount of Three Hundred Thou
sand Dollars (S30O,0O0D each of said
bonds to be of the denomination Of
One Thousand Dollars $1,000; to
be numbered from 1 to 300 both in
elusive; to bear interest at the rate
Of four and one-half per centum per
annum (415) payable semi-annually
January /, and July l; to bear date
January 1, 1905; to be payable thirty
(a0) years after said date, with the
option on the part of the City
to redeem any or all Of said
bonds, numbered from l to 300 as
at any time after twenty
900 years from the date thereof at
par and accrued interest. The princl-
pal AMI interest of said bonds shall be
made payable at the ONCE of The
United States Mortgage & Trust
Company. in the City and State Of
New York.
Section 2 That, in accordance
with said recomm endation of the !
Board of Bond Trustees the form OF ,
said Donns and coupons shall be sub
as follows, to wit:
UNITED STATES OF AMERICA.
STATE OF FLORIDA.
Estate Coat of Arms
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