The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1911-09-16
Sordinan.ce No. ia

AN ORDINANCE
Entitled: An Ordinance to Provide TOR the
Engraving, Issuance and Sale OF Re-
funding Bonds Of the City Of Pensacola
Florida. under and by Virtue Of an Act
Of the Legislature OF the state OF Flor-
Ida, approved Junes3. 1911.
Whereas, under and pursuant 70 the
provisions Of an Act Of the Legislature
OF the State Of Florida, approved June ),
1871 entitled: AN Act relating TO the
issuance OF Bonds and Special Tax Bills;
the Assessment. Levy and Collection OF
Taxes the Licensing. Regulation and
Tfoaffbi3ion Of Businesses, Occupations,
Trades and Anusements, and the Abate-
rnents or Nuisances by the City Of Pen
cfense the jurisdiction, privileges ana
powers Of said City In other matters per-
taining to its general welfare, and 70
revise. supersede or repeal connic11 MI
OF Pensacola. Florida are authorized 70
refund the bonded Indebtedness OF SAID
city maturing in the year l911. and for
that purpose are empowered 70 issue ne
gotiable coupon bonds Of said city, OF
such denomina lions, bearing such rate OF
Interest not exceeding five per cent. g
per cent? per annum, ana upon such
terms and conditions as may by ordinance
be determined, to an amount not exceed
ing the total. amount Of the principal and
one years Interest Of the bonded indebt-
edness refunded; and
Wfereas, the bonded Indebtedness Of
said city maturing in the year 1911 con-
sists OF bonds iss'ied by said city pur-
suant to an ordinance of said city ap-
proved September "a. 1881, entitled IAN
Ordinance. to Authorize the issue Of a
New Series Of Bonds In conformity with
the vote OF the citizens, at an election
held 22d day Of August, 1881 and In
satisfaction of a former series. which
said Indebtedness will mature on the LIST
day OF November of said year. and on
said date the total amount Of which said
indebtedness. including the principal and
one years interest thereon, VIII amount
to the sum of Two Hundred and Fifty
four Thousand (s2540 o0) Dollars; and
Whereas, said Act Of the Legislature
OF June g.. 1911, provides, among other
things, that the Board Of Bond Trus-.
tees created by Chapter $3.50. Laws Of
Florida OF 1905. shall be the Trustees for
the Bonds authorized to be issued by
said Act OF June g. 1911, and as such.
shah have an the powers and perform
said Chapter $3.50 vests IN. and imposes
upon, them as to such other Bonds men
toned in said Chapter, and requires that
said Bond Trustees shall recommend to
the Council the form OF bonds to be is
sued. and shall attend to the engraving
OF said bonds as may be provided by or
dinance OF said City, shall receive said
executed and shall thereafter have the
care and custody thereof until the same
are sold, and shall receive and control
al moneys arising from the sale Of said
may be directed by resolution or ordi-
nance OF the Council. solely for the pur-
pose TOR which said bonds were author
Whereas: the City Council as provided
by said Chapter $780, has duly elected
as Board OF Bond Trustees three duly
quained voters OF said city, who own
real estate therein. such Board of Bond
Trustees oeang composed Of the follow
ing men. to-wit: John A. Merritt. f F.
Bingham and Jos. W Riera. which said
Trustees have duly ouaIified bv 1tvinr
bonds and taking oaths OF ONCE and
otherwise. as prescribed by ordinance
OF said City and the Laws Of This
State. and said Board OF Rond Trus-
tees has. recommen ed to fhis Csoun.
ell that the negotiable coyporl ho,,ds =,
said City shall be engraved. issued and
sold for the purpose OF refunsinS M
bonded indebtedness Of said city. wbicf
win mature on November ia1f =,
aforesaid; that said Bonds shan he iss,,eS
In the name Of the City OF PensacoIa
and bear the corporate seal Of said rit%,
shall be known as "Refunding Bonds =,
the City Of Pensacola. Florida ana A. II
be signed by the Mayor. the CITY Corn
troller. the Chairman Of the Board =
Bond Trustees and attested by the r,,t,
Clerk: that said Bonds shall be Of the AZ
nomination Of 81 .000.0 90. and shall be MN
bered in the order in which they are is
sued; that said Bonds shall be issued q,
the list day Of October, A. D. 1911. d
OF such time thereafter as the CouncI