The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1910-05-28
Classified
LEGAL NOTICE.

City of Pensacola. Said bonds shall be
of the denomination of One Thousand
| ($1,0O0.00) Dollars and shall be numbered
| in che order in which they are issued.
| The form of said bonds shall be as here
after provided by ordinance recommended
| by the Board of Bond Trustees. Said
| bonds shall be issued the first day of
| August, 1870 or at such time therea fetr
as the Council may provide by ordinance.
and they shall become due and payable
| thirty years after the date of their issue,
| The said bonds shall draw interest from
| the date of issue at a rate not exceeding
| the first day of January and the first day
of July of each year, and shall have in
| terest coupons attached payable said
dates. The principal and interest Of said
| bonds shall be payable in gold coin of the
United States of America of the present
weight and fineness at such place or
places as may be designated by ordinance
prescribing the form of said bonds.
SECTION 9. That for the purpose Of pay
property within the City of Pensacola is
hereby pledged, and it shall be the duty
! of the Mayor and Council Of the City of
Pensacola to levy annually special tax
on all taxable property within the cor
porate limits of said city as may be nee
essary to pay the interest on said bonds
and to provide sinking fund for the
payment of said bonds The tax levy to
from the date of said bonds to October /,
1915, amount to not less than one-half
of one per cent of the total amount of
bonds issued, and thereafter to Otober l.
1920, to not less than one per cent of the
amount of said bonds, and from and after
October 1, 1920, to October l, 1925, to not
the amount of said bonds, and from and
after October 1, 1925, to October /, 1880,
to not less than per cent of the amount
Of said bonds, and from and after Octo-
Der l, 1880, to not less than two and one
half per cent of the amount of said bonds.
All money raised by taxation or other
the principal, of said bonds shall, when
collected, be paid to the Bond Trustees
Of the City of Pensacola, who may invest
the same, or so much thereof as may be
advisable, in bonds of the United States
| Government or bonds of any State,
County, or City. or may loan same with
or on National Bank Certificates of De-
post with approved collateral. Provided,
that all such Investments and loans shall
be made with the approval of two thirds
OF all the members of the City Council,
and shall at all times be subject to such
approval. All interest accruing from the
and invested as part of the sinking fund
provided for the payment of said bonds.
shall offer said bonds for sale by notice
published in a newspaper published in
the City of Pensacola. and in a newspaper
such other cities as the Bond Trustees
may deem advisable, and calling for seal
bids for said bonds thirty days after the
specified in said notice for receiving bids
the Board of Bond Trustees, at a meet
ing to be held at the City Hall in the
read all bids received, but no bid shall be
accepted unless it shall be approved by
the City Council. The Board of Bond
any and all bids, and with the approval
OF the Council to re- advertise for. sale:
and sell from time to time any Of said
bonds remaining unsold.
Section s. That all bonds when en-
graved. shall be placed by the Board Of
Bond Trustees in such bank, or banks,
" the Council of the City Of Pensacola
and all money received from the sale of
said bonds shall be deposited by the
Board of Bond Trustees with such de-
pository, and any monies not needed for
immediate disbursements shall be placed
at interest by said Trustees at such
places and upon such terms and condi-
tons as the Council may approve.
Section 6. That it shall be the duty of
the Board of Bond Trustees whenever 1t
sells. or otherwise disposes of any bond,
or bonds, to register the same in a book
to be provided for that purpose and to be
kept in the office of the City Comptroller
and denomination of each bond, when and
to whom sold or how disposed of, and the
seeon f0T ba s tha CT St4 of
and all other officers and agents collect
ing or receiving any money from any as
sessment, tax. or other sources to be ap-
piled to the payment of the principal or
interest of said bonds, or any of them, or
any portion of the Indebtedness created
oftener, if required by the Board of Bond
Trustees, written reports, in duplicate,
showing the exact amount collected or
received by them. and the person or
source from which the same was re-
ceived, or collected. One of said reports
shall be kept in the records of proceed
the other shall be filed with the CITY
Comptroller and entered by him in a
book to be provided for that purpose I'M
der the direction of the Finance Commit
tee of the City Council.
Section 8; That the Mayor Of the City
of Pensacola is hereby directed to issue
his proclamation calling an election to be
held on the 14th day of June, 1910, to de-
termine whether or not the issuance of
herein enumerated. or any of them. shall
at that time be approved by the majority
of the votes cast by the qualified electors
qualified to vote and voting al said cleo
ton. Said proclamation shall be pub
lished daily in newspaper published in
the City Of Pensacola during the period
Section 9. The Board of Bond Trus-
tees herein referred to, shall be the same
Board which was provided for, and now
exists, and shall exist hereafter under the
provisions of the ordinance of the City
of Pensacola, entitled: IAN Ordinance
the City of Pensacola, Florida, under and
by virtue of Act of the Legislature of
the State of Florida, entitled: IAN Act
10 authorize the City OF PenSaCOla to issue
negotiable bonds for municipal purposes,
and provide for the payment thereof. ap-
proved May II, 1905, and the members of
said Board shall furnish such additional
bonds for the faithful performance OF
their duties, as the Council may from
time to time require
Section 10. That the ballots used in
said election shall be substa ntially in the
following form:
OFFICIAL BALLOT.
SPECIAL BOND ELECTION, CITY OF
PENSACOLA =:
Election Precinct No........
(The voters must make a cross mark
(X) before the words For Bonds" or
Against Bonds" accordingly as he ap-
proves, or disapproves, of the issuance
Of bonds for each of the respective pur-
mi nd