The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1906-01-27


r22. 1895, at which election said or
dinance and the issuance OF improve
nent bonds of the City Of Pensacola
as provided in said ordinance and in
said act Of the Legislature we're duly
approved by the majority of the votes
cast by the qualihed voters of said
CITY then residing in said City, ana
who had paid taxes on real estate OF
personal property 70 said City for the
YEAR for which taxes were last due
such vote being in favor of the issu-
anee of said Improvement bonds for
each and all of the purposes and
amounts specified in AMI proposed D.
said ordinance of July 10, 1905; and,
WHEREAS, said Act of the Legisla-
tuFe 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
apply the same as may be directed by
resolution or ordinance of the Coun-
Gil. solely for the purpose for which
said bonds were authorized; and,
WHEREAS. the City Council. as
provided in said Act of May II. 1905,
has duly elected as a Board of Bond
Trustees three 81 duly qualified
voters of the City, who own real es-
tate therein. such Board of Bond
Trustees being composed of the fol
lowing men. to wit: l.. Hilton Gre IN.
J. VI. Pfeiffer and w K. Hyer, IT.
which said Trustees have duly quail
fed by giving bonds and taking Oaths
OF office and otherwise as prescribed
By said ordinance of July ~, 1905,
and the other ordinances of this City
and the laws of this State. and said
Board of Bond Trustees has recon-
mended to 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 sthe5 Mayor
and Council OF the City Of Pensacola:
Section 1. That the Board of
Pond Trustees of the City of Pensa-
cola be and it is hereby authorized
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 $500, O00), each of said
bonds 10 be of the denomination OF
One Thousand Dollars Isl ,000.); to
be numbered from l to 300 both in
to bear interest at the rate
Of four and one-half per centum per
annum (41a). payable semi-annuallyI
January l. and July /; to bear date
January / 1906; 10 be payable thirty
(S0) years after said date. with the
option on the part Of the City
to redeem any or all of said
bonds. numbered from to 300 as
al any time after twenty
(2O) wears from the date thereof at
par and accrued interest The princi-
pala AMI interest of said bonds shall be
made payable at the Office of The
United States Mortgage & Trust
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 bonas and coupons shall be sub
stantially as follows, to wit:
UNITED STATES OF AMERICA.
STATE OF FLORIDA.
Estate Coat of Arms