The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1911-08-26
Ordinance Y No ;, ~

fundIna Bonds o. the City Of Pensacola,
FIDridag under and az wrs s.. q of ~ Ei kr.
ldayapproped June 8. 1871.
VJilsreas under and pursuant 70 tne
provisions OF an Act OF the Legisia.utos
sof the s tate Of Florida, approved June =.
1o11. entitled "An Act relating 70 tne
issuance Of Bonds and Specisl Tax bAus;
the Assessment, Levy ard Cclsccoh "a
prohibftion Of Businesses, OecupaIions'
Trades and AInuEements, ana tns $3.50
nent Of Ntiisance by the CITY OF Fsn-
sacoia; ard also to fnrther s,SSs asu ard
powers 81 said City in other matters pe.
tanning to it's general welfare, ana
revise. supersede OF r rspeasi ~ me civ
OF Pensacola, Florida, are authorized y
refund the bonded indebtedness y So
city maturing in the year ISL, anu r no
sf1ats ri1rpnse are empowered 10 issue ms
rotiable coupon bonds OF said Guy, %
saaa.st-a Recommendations, bearing sucn Tas7 ~
interest not exceeding five per cen. x i
per cent? per annup1, ana upoan, So 49, /
terms and conditions as may by oToinanSe
be determined. 70 an amount nov $780, 20 |
ing the total amount OF the prlnSlPaL nv
one years interest OF the Donoeo iuu9oN
vVhereas. the bonded indebtedness OF
said city maturing In the year ISL CON
sists 81 bonds issued by said CITY put
suant to an ordinance OF said city APP
iproved September a. 1881, entitled An
Ordinance to Authorize the issue OF
New Series Of Bones ~ co on ~ election
held 22d day OF August 1881, ana II
satisfaction Of a former series wnlcn
said Indebtedness VIII mature ma I,so On end on
: said date the total amount OF wnlcn sal1
indebtedness, including the principal anc
one years interest thereon. VIII aue ss..le
y four M Thousand sSr ts254, 00O1 Dollars; and
n Whereas, said Act Of the Legislature
OF June 8, 1911, PROVIDES, amonS T Tsnsi
things that the Board Of Bond Irus.
tees created by Chapter $3.50, Laws oI
,rlor1da 81 1905 shall be the Trustees Tor
Sho Roads authorized to be issued ~
ie5a3 have all the powers and perform
all the duties In reference thereto as
said Chapter $3.50 vests IN and IMPOSES
toned Ia said Chapter; and requires that
said Bond Trustees shall recommend 70
the Council the form Of bonds 70 oe Is
snea and shall attend to the engraving
of said bonds as may be provided oy or
dinance Of said City. shall receive SAID
bonds as soon as same are prepared ahc
executed and shall thereafter have the
care and custody thereof until the same
are sold, and shall receive ana controi
! ali moneys arising from the sale Of SAID
4 bonds. and faithfully apply the same e,.i ~
fArnaN.u Sau aiEAGtadu- ~ resolution or ordl-
- Said chapter $3.50. has duly elected
y as Board OF Bond Trustees three duly
qualified voters q said city. who own
Trustees being composed OF the follow
ing men. to-wit: John A. Merritt F. F.
Bingham and Jos, Y. RieIa, which said
bonds and taking oaths of office and
otherwise, as prescribed by ordinances
Of said City and the Laws Of this
tees has recommended to this Coun-
ell that the negotiable coupon bonds Of
said City shall be engraved, issued and
bonded indebtedness Of said city. which
will mature on November I. 1911, as
aforesaid; that said Bonds shall be issued
and bear the corporate seal Of said City,
shall be known as "Refunding Bonds Of
the City Of Pensacola. Florida" and shall
troller, the Chairman Of the Board Of
Bond Trustees and attested by the City
Clerk; that said Bonds shall be Of the de-
nomination OF 100000 and shall be num-
bered in the order in which they are is
sued that said Bonds shall be issued on
the LIST day Of October. A. d 1911, or
j at such time thereafter as the Council
may provide by ordinance; that they
shall became due and payable thirty (30)
years after the date Of their issue; that
Tpsaid Bonds shall draw interest from the
date OF issue at the rate Of four and one
half per centum (4h per centum) per
annurn, payable on the LIST cay Of April
and shall have interest coupons attached
payable on said dates: that the principal
and interest Of said Bonds shall be pay
able in Gold Coin of the United States OF
America of the present weight and fne-
ness. at the ONCE Of the United States
Mortgage and Trust Company in the city
OF New York; and that the form of said
Bonds shall be such as is hereinafter
provided in Section hereof; now, there
Be It ordained by the Mayor and Coun-
ell Of the City Of Pensacola:
Section l. That in accordance with
the recommendation Of the Board Of Bond
Trustees OF the City OF Pensacola nego-
table couron bonds Of the CITY Of pen.
sacola shall be issued In conformity with
said recommendation, for the purpose
vided The-said Board Of Bond Trus-
tees Is hereby authorized ana directed to
have engraved such coupon bonds of the
City OF Pensacola, to be known as IRE
funding Bonds OF the City OF Pensacola,
Flerida to the amount Of Two Hundred
and Fsfty-iour Thousand (s2S4. 600 oo)
denomination OF One Thousand Dollars
(St ooosooli to be numbered from one to
two hundred and ffty-four, both in
elusive; to bear interest at the rate Of
four and. -one-aalf per centun (41k per
centnmo per annum, payable serni-an-
date October I, 1911; to be payable |
thirty (s0) years after said date. The
principal and interest Of said Bonds shall |
ss payable at the office Of the United |
he City and State OF New York.
Sec. 2. That In accordance with said |
s ;'sTsns sss go- q The Board Of Bond
lows. to-wit
UNITED STATES OF AMERICA
STATE OF FLORIDA,
Mo- CITY OF PENSACOLA Mo-
$1,000 REFUNDING BOND. $1,000 /
For value received. the City of Pensa~
lola, mupicipal corporation in the /
ftate OF Florida, hereby acknowledges |
Mself Indebted and promises to nav to /
Nsarer the sum Of One Thousand Dollars |
(S1,000) thity years after date with in
terest at the rate OF four and one-half
per centum per annum, payable semi
annually April ! and October l. on pre- /
sentatton and surrender OF the annexed /
interest coupons as they severaIly become
due. both principal and interest being
PAYABLE in gold coin OF the United States
or America Of the present Standard
weight and fneness at the office of the
United States Mortgage and Trust Conn
pany in the City and State of New York
This bond is issued by the City Of PEN
sacola for the purpose OF refunding GER
tain valid outstanding. subsisting bonded !
Indebtedness Of said City, maturing in
tne year 1911. under and in full COM
pAance with the Constitution and Laws