The Ocala banner. (Ocala, Marion County, Fla.) 1883-194?, 1911-11-24
CITY ATTORNEY sIsrRuNk
Gives Interesting information in Re.
gard to the 100000 Bond Issue

Ocdla, FLORIDA:
Dear sir-Complying with vour 70
quest Tor certain Information re1a.i,,o
10 an ordinance ITO submit N 49,
registered voters of the city of OooIa
the question OF issuing bonds RI ~
amount OF one hundred thousand dol
lars and equipping water works e.
the sald city OF Ocala and to nrovida
Tor the Issuing Of said bonds" how -
proceed hereunder so as TO comnlv
win the conditions of the axis+inrr
contract between the city Of Ocala and
the Ocala Water Company. etc etc
beg to submit the following for vour
careful consideration.
me pond ordinance. above referred
TO- was passed by the council of the
city or Ocala, April 4, \. D. 1911. and
approved by the mayor Of the citv IF
ocaia' April Sth, \. y. 1911.
IN compliance with the terms Of said
"Eu'hdhce' the Hon. J. d. Robertson.
as mayor or the said city of Ocala. is
suea ms proclamation calling an cleo
ton 10 determine whether or not bonds
should be issued in accordance with
th.s ordinance, which said election was
helu on the 18th day Of May. A. D.
l'll' and al the first regular meeting
81 the city council after said election.
the ballots cast at said election were
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 fling Of a bill in
chancery in the circuit court for Mar
ion county, Florida. TO enjoin the is
suance OF said bonds. but upon applica
ton TO the circuit Judge, the same was
denied. and an appeal was Immediately
taken from the decision of the lower
court 10 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 decIar-
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 zone
thousand dollars" each, and bear inter-
est at the rate OF not more than six
per cent per annum" and payable in
not less than ten" nor more than
thirty years from date OF issue" Tn
der the law. these bonds will have 10
be handled by bond trustees appoint
"a by the governor for that purpose
For more specific Information on this
point ! quote section nine of the bond
ordinance.
"Such amount OF the bonds so s.
sued al such time and in such manner
AZ the council shall or may provide
shall Doe sold by said trustees imme-
diately upon receipt of same, but not
less than for par value thereof, and
they shall proceed TO pay for the pur-
chase or construction and equipping Of
water works for the city OF Ocala from
the proceeds thereof"
NJ is tho duty OF the city council to
recommend 70 the governor of the
state II Florida by resolution. the
names of three suitable persons to be
appointed as bond trustees. and 1 will
make this application to the governor
as soon AS the proper resolution has
been passed by the council.
In drawing the BOND Ordinance" 1
Buying and equipping or constructing
and equlpping water works" did
this for the reason that the city coun-
ell had not at that time nor has i
thus far. indicated by any official act
whether Il would buy the old plant Or
whether il would construct a new
plan, The bonds can be issued and
used for either purpose. The full
20
be issued AT once, but in amounts and
al such times as the council deem nee
essarv TO carry in effect the Bond
Ordinance" The council not having
decided whether IL Will buy the old
water works plant or whether II VIII
construct new one. and as the matter
Is one OF great and serious Importance
20 the welfare OF our city and citi-
zens. I take the liberty OF suggesting
the expediency OF a special meeting 81
city council 10 be called for the pur-
pose 81 allowing the citizens an oppor-
tunlty TO express their views on the
subject
How 20 proceed so the city can avail
itself OF the rights TO purchase the ola
plant from the water company under
the expressed conditions of an existing
contract between the city and the wa
ter company.
The life Of the contract between the
city and the water works is for the pc
Rod OF twenty five years from the date
OF the completion and the acceptance
by the city OF said water works, with
the right TO extend the contract Tor
period OF Ave years. unless the city
purchases the water works under the
terms and conditions of said contract
So we must frst determine when this
contract went into effect in order 10
determine when II expires. The lol-
lowing will be found in the minutes
OF the city council of December 7th'
A. D. 1855
John +. Dunn, ]. T. Lancaster ana
]. Rowell, TO examine and report as
10 accepting the water WORKS, SUP
mitted their report which was read.
favorlng the accepting the works ana
a vote was taken as TO accepting SAID
report which resulted as follows: yeas