The Pensacola journal., 1911-12-19
LEGAL NOTICE.
AN ORDINANCE

FGn8aCOtog
Ida, for che purpose Of paying the sums
payable by lots or parcels Of land ana
railroads for improvements assessanie
to said lots or parcels of land and rail-
roads, as provided by an ordinance OF
said City, approved March 9, 1911, en-
titled: "An Ordinance Providing for
the Grading, Paving and Curolng OF
certain Streets In the City OF Pensa-
Be it ordained by the Mayor and Coun-
ell of the City of Pensacola, Fla:
Section 1. That for the purpose OF
GELS of land and railroads for the I'M
provements assessable to said lots or par
cells of land and railroads as provided by
titled: IAN Ordinance Providing for the
Grading, Paving and Curbing of certain
Streets In the City of Pensacola, and
pursuant to Chapter 1886, Laws OF Fior-
Ida of 1911, the Board of Bond Trustees
% the City of Pensacola be, and are mere
by, directed to have printed, Autographed
or engraved Coupon Bonds of the City OF
Pensacola, to be known as Special I'M
provemnet Bonds of the City of Pensa-
cola Florida" to the amount of Three
Hundred Thousand Dollars (S30O, ,0OO.00l,
each of said Bonds to be of the denomi-
nation of Five Hundred Dollars (S50O.0 .0O),
to be numbered from ! to 600. both in
elusive. to bear interest at the rate of SIX
per cent. (6 per cent? per annum. pay
able semi annually, to be in three Series
of 800, 100000 each. lettered A, and G..
and to bear date follows, to-wit:
Series A, January ]. 1912; Series 3, July
l. 1912: Series c. January /, 1913, one
fifth of each Series to be payable respec-
lively 2, 3, 4, 5 and 6 years after date
with the option of the City to redeem any
bond within twelve months before its ma
turity, at par and accrued interest, upon
giving as hereinafter provided, thirty
days notice of its intention to redeem.
Sec. 2. At each settlement with the
contractor. or contractors, for the i'm
provements authorized by the aforesaid
ordinance, the Board of Bond Trustees
shall deliver to the contractor. or his as
signs. SO many of such Bonds as he may
be entitled to under the terms of his
contract, less such sums as the City may
be able to pay him in cash realized from
the payments made by the owners of lots
and parcels of land and railroads for the
improvements assessable to said lots and
parcels of land and railroads, respec-
lively as provided by the ordinance and
law aforesaid. The Bonds delivered shall
be- as far as possible, of the Bonds bear
ing date prior to the delivery as afore-
said, and in all instances the interest
upon Bonds delivered shall be adjusted
with the contractor at the time of such
delivery The City binds itself to retain
the assessment certificates provided for
by said ordinance and law, as security
for the payment of the said Bonds, and
to collect the same, but no specific certifi-
cate. or group of certificates, shall be held
TO be pledged as security for the pay
ment Gf any Bond. or series of Bonds,
and tre payment to the City of any GER
tificate shall release the property, or rail-
road, covered by such certificate. After
the contractor. or contractors. shall be
settled with for all work required to be
done by said ordinance, and by the pro-
visions of the contract entered into under
the provisions of said ordinance all Bonds
not delivered to the contractors as afore-
said shall be destroyed by the City. A
record shall be kept by the City Comp
trolier OF all Bonds issued under this or
dinance, and of all bonds destroyed as
aforesaid, and of the payment of all
bonds as the same shall be paid.
Sec 8. That in accordance with the
recommendation of the Board of Bond
Trustees, the form of said bonds and
coupons shall be substantially as follows:
UNITED STATES OF AMERICA,
STATE OF FLORIDA.
s5OO0o. $4,000
SPECIAL IMPROVEMENT BOND.
For value received. the City of Pensa-
cola, municipal corporation of the State
of Florida. hereby acknowledges itself in
debted. and promises to pay to bearer, or
the registered holder, If this bond be reg
istered: the sum Of Five Hundred Dollars
tSo0O.O0), ..-:.......... years after date,
with interest at the rate of six per
centum per annum, payable semi-annually
1st, on presentation and surrender of the
annexed interest coupons. as they sever
ally become due. both principal and inter
est being payable in gold coin of the
United States of America, of the present
weight and f1neness, at the office of the
United States Mortgage and Trust Com
pany In the City and State of New York
a. The City of Pensacola hereby reserves
the option or privilege of redeeming at
par and accrued interest any of the
series OF bonds of which this is one, at
any time within the year preceding its
maturity. upon giving thirty days notice
by mail to the registered holder at his
registered address, if this bond be regis
tered. and by publication once each week
the City of Pensacola. and in a news
paper published in the City of New York.
This bond is issued by the City of
Pensacola under and in compliance with
the constitution and the laws of the State
OF Florida, and ordinances of the said City,
including among others an Act of the
Legislature of said State. entitled, "An
Act relating to the Improvement by the
City of Pensacola of it's Streets, Alleys
and Public Ways" approved April %.
1909, and ordinances and proceedings of
said City, duly had and adopted in ac-
z-eordance with the Constitution and
Statutes of the said State and Charter of
said city. This bond is one of group
of forty bonds of like date, tenor and
amount. which are a part of series of
two hundred bonds, which are a part of
an authorized issue of six hundred bonds,
all issued under the Act aforesaid, and
the ordinances passed in pursuance there
Of
1t is hereby certified, recited and de-
clared that all acts, conditions and things
required TO exist, happen and be per-
formed precedent to and in the issu-
ance of this bond. have existed, happened
and been performed in due time, form
and manner as required. and that this
bond, together with all the other indebt-
edhess of said City, does not exceed any
limit prescribed by the constitution and
statutes of the said State or the Charter
of said City, and that the faith and credit
of said City and the entire taxable prop
erty in said City are hereby frrevocably
pledged to the punctual payment of the
principal and interest of this bond.
=. In witness whereof, said City of PEN
sacola has caused this bond to be signed
T by its Mayor and City Comptroller and
: the corporate seal of said City to be here
10 affixed, attested by its City Clerk and
the coupons hereto attached to bear
autographed or engraved signatures of
said Mayor and City Comptroller and this
bond TO be dated ................
-. '-'''E..............
- NCIty sean Mayor
Attest:
.l...r.,............. City Comptroller.
City Clerk
sz- (F'orm Of Coupon)
The City of Pensacola, a municipal cor
poration of the State of Florida, will pay