The enterprise-recorder. (Madison, Fla.) 1908-1933, 1910-04-07
ORDINANCE NO. %.


An Ordinance prescribing the form and details Of
the issue Of $4,000 school bonds OF the Town OF
Madison, and providing for the levy OF TAX 10
pay the principal and interest Thereon Al maturity;
Whereas, At an election duly and legally called
and held IN the Town Of Madison on ue sNth day
of July, 1909, more than majority OF the qpaphed
voters of said town voted in favor OF me issuance
of bonds Of said Town IN the amount OF Sl0,VO tOr
the purpose Of raising money to be used IN erect,
ing OF aiding in the erection OF dornitotN anu
such other buildings IN connection wth the puone
school building now situated IN said town, now
called the Florida Normal Institute, or such lddi.
tons thereto as may from time TO time DC deemed
necessary by the Town Council foF the uaintcn'
ance or efficiency OF any school or schools that may
be established or conducted therein, and
Whereas, said bonds have been duly Advertised
for sale, and contract has been entered into for
the sale of present issue OF 4,0O OF SAID bonds
at price which is in excess OF W cents on the dol
Lar and
Whereas, all acts, conditions and things required
by law precedent TO the issuance Of said bonds
have been had and done IN the ume, form ana man
ner required bV law;
Now Therefore, DC il ordained by the Council Of
the Town of Madison, Flcnda.
Section !. That for the purpose Of raising money
to be used In erecting or to aud in the erection
Of dormtorv and such other buildings in tonnec.
ton with the public school building now situated
in said town, now called the Flor da Normal In
titute, or such additions thereto as may from time
to time he deemed necessary by the Town Nouncil
foy the maintenance and efficiency Of any school or
schools that may be established or conducted there
in there rs hereby ordered and directed TO be rs.
sued the negotiable coupon bonds of said Town OF
Maids, y in TIE mount Of Fifteen Thousand Dol
lars (Sl6,00O), consisting of thirty bonus of the de
nomination Of $500 each, numbered TO 30 inclns,
i've. said bonds shall be known and designated
as "school Bonds,n shall be dated September 18th,
1909 shall mature thirty l0) ears from their date,
the Town, however rcserying the option 10 redeem
the same at any time after FIVE years nom their
date; shall bear interest NJ the rate OF six (6) or
centum per annum, payable annually on September
18th of each year; and both principal and interest
shall he PAYABLE IN lawful money Of the United
States at the Office Of the Treasurer Of the Town
of Madison, FLORIDA, or a, the option Of the holder
OF said bonds AZ the Office Of Dnte NJ. tnrson, m
the city of Chicago, ILLINOIS, payable in New YORK
Exchange.
substantially the following foms, respectively to-
United States Of America, State Of Florida, County
Of Madison, Town Of Madison.
SCHOOL BOND
Know an men by these presents, that the Town
Of Madison, in the County Of Madison, State OF
Florida, a duly organized municipal corporation
under the laws Of SAID State acknowledges itself
indebted and for value received hereby promises TO
pay TO bearer FiyellundredDol arsin lawful money
Of the United States Of America, on the 10Th day
of September a. D. 1889 or at the option of sad
town at any time after FIVE years from the date
hereof, together with interest on said sum from the
date hereof until paid at the rate of SIX (6) per
ceDtum per annuin, payable annually on the 10Th
uaN OF september upon presentation OF tue INTEREST
coupons hereto attached as they seyerally become
lue both principal and intere,t being payable a,
the office of the Treasurer Of said Town, in the
Town of Madison, Florida, or at the option Of the
holder Of said bonds at the office of Duke NJ Far
son, IN the city of Chicago, Illinois, PAYABLE in
New York Exchange, And for the prompt pay
ment of the principal and interest of this bond AT
maturity. the full faith, credit and resources of said
Town are hereby irrevocabY pledged.
This Bond is issued for the purpose of raising
funds TO erect or aid In the erecting of pu bic
school building ~ said town, with dormitorY and
such other buildings connection herewith or ad'
ditions thereto as may from time 10 time he deem
ed necessary by the Town Council for the manJer.
ance and efficiency Of any school schools that
may be established and conducted therein, and Is
issued pursuant TO the favorable vote OF more than
| a majority of qualified voters of said Town voting
at an election duly and legally called and held fni
that purpose and pursuant to resolutions and oidi-
nances of the Town Council duly passed, approved
and adopted, and is authorized BY and issued in
full compliance with the charter Of said Town, and
the Constitution and laws Of the STATE 81 Florida
/ And IL is hereby certified and rccited that all
acts, conditions and things required by the Consti-
tuition and laws of the State of Florida and the
charter of said Town 10 exist. happtn and be per.
| formed precedent to and in the issuance of this
! bond have existed, happened and been performed
/ IN regular and due form, time and manner as re-
quired by law, and tina, the total Indebtedness Of
said Town including this bond Goes not exceed any
| Constitutional, statutory or charter limitation,
In witness whereof, said town Of Madison, by
its Town Council has caused this bond to be sign'