The Ocala evening star. [volume] (Ocala, Fla.) 1895-1943, 1911-11-11
INTERESTING INFORMATION
Which the Hundred Thousand Dol
lar Bond Issue May he Used

Dear Sir-Complying with your re-
quest for certain information relative
TO an ordinance ITO submit 10 the
registered voters of the city Of Ocala,
the question Of issuing bonds to the
amount of one hundred thousand dol
lars and equipping water works for
the said city of Ocala and to provide
for the issuing OF said bonds how to
proceed hereunder as TO comply
with the conditions of the existing
contract between the city Of Ocala and
the Ocaia Water Company, etc, etc,
beg to submit the following for your
careful consideration.
The bond ordinance, above referred
TO, was passed by the council of the
city OF Oca1a, April 4, a. ID. 1911, and
approved by the mayor OF the city of
Ocala, April 9Th, A. D. 1911.
In compliance with the terms of said
ordinance. the Hon. ]. D. Robertson.
as mayor Of the said city of Ocala, is
sued his proclamation calling an cleo
ton to determine whether or not bonds
should be issued in accordance with
this ordinance, which said election was
held on the 10th day of May, A d.
1911, and at the first regular meeting
Of the city council after said election,
duly convassed by said council and
after which the said council by resolu-
ton declared the results of the election
in favor of the issuance Of bonds as
specified in the ordinance.
The legality of the bond election
was contested by the filing of a bill in
chancery in the circuit court for Mar
ion county. Florida, to enjoin the is
Of an -
ton to the circuit judge, the same was
denied. and an appeal was Immediately
taken from the decision of the lower
court to the supreme court of the
state of Florida and, the supreme court
has within the last few days affirmed
the decision OF the lower court, hence
the said bond election has been declar-
ed legal by the highest tribunal of the
state
Under the Bond Ordinance" the
council is authorized to issue bonds
amounting to one hundred thousand
dollars. for the purpose of buying and
eequipping or constructing and equip
ping water works; these bonds to be
issued in the denomination of lone
thousand dollars" each. and bear inter
est al the rate of not more than "siS
per cent per annum' and payable in
not less than ten nor more thar
thirty years from date of issue I'm
der the law, these bonds will have tC
be handled by bond trustees appoint
ed by the governor for that purpose
For more specific information on thi>
point, l quote section nine of the bono
ordinance:
"Such amount of the bonds so is
sued at such time and in such manner
as the council shall or may provide
shall be sold by said trustees imme
diately upon receipt of same, but no
less than for par value thereof an,
they shall proceed to pay for the pur
chase or construction and eQuipping o
water works for the city of Ocala from
the proceeds thereof"
1t is the duty of the city council t
recommend to the governor of tn
state of Florida, by resolution. tn
names Of three suitable persons to b
appointed as bond trustees. and I viii
make this application to the governo
as soon as the proper resolution ha
been passed by the council.
In drawing the Bond Ordinance"
used the following terms or words
Buying and equipping or constructor:
and equipping water works." | di
ell had not at that time nor has
thus far indicated by any official act
whether it would buy the old plant D
whether 1t would construct a new
plant. The bonds can be issued an
used for either purpose. The full
amount of the bonds do not have t
be issued at once. but in amounts an
at such times as the council deem nee
In, Afn tt,a pny
Ordinance" The council not havin
decided whether 1t will buy the oil
water works plant or whether it wi,
construct a new one. and as the matte
is one of great and serious importanc
to the welfare of our city and citi
zens. take the liberty of suggestin
the expediency of a special meeting u
city council to be called for the pur
pose of allowing the citizens an oppor
tunity to express their views on tn
subject.
How to proceed so the city can ava
itself of the rights to purchase the oil
plant from the water company unde
the expressed conditions of an eXistin
contract between the city and the wa
ter company.
The life of the contract between tn
city and the water works is for the pc
riod Of twenty-five years from the dat
of the completion and the acceptanc
by the city of said water works, wit
the right to extend the contract for
period Of five years, unless the cit
purchases the water works under tn
terms and conditions Of said contrac
So we must first determine when TIL
contract went into effect in order
determine when it expires. The 70
lowing will be found in the minute
Of the city council of December I'll
A. d. 1888:
John F. Dunn. J. r. Lancaster an
]. A Rowell. to examine and report q
to accepting the water works, sui
mitted their report which was rea
favoring the accepting the works an
vote was taken as to accepting sal
report which resulted as follows: Yea
and Smith; meas. E. W. Agnew. Aides
man Agnew asked permission to sun
NIT a minority report which WIS
granted. in regard to accepting sa
water works The above report in r.
gard to the water works which VS.
accepted was on motion filed for info
nation. Alderman ]. A. Rowell mo1
ed that the water works be accepte
which was seconded by Alderman E
Smith. Yeas. II. ". Chandler. ].
Lancaster, J. A Rowell and z.
Smith; macs. E. W. Agnew. The chat
man announced the motion carried"
1t therefore appears from the RECORD
OF the city council that the city
anaapta5 ha works IN II