The Ocala banner. (Ocala, Marion County, Fla.) 1883-194?, 1914-09-18
Bond No.
City Treasurer

That the date upon which the said
bonds shall mature shall be inserted
therein as hereinbefore provided, and
that all coupons attached to the said
bonds which shall be in excess of the
number required for the payment OF
the interest on the said bonds from
their date to maturity shall be detach-
ed from said bonds by the bond trus-
tees hereinafter mentioned at the
time of the sale and negotiation of
the said bonds by the said trustees.
Sec. 3. That the trustees provided
for under section Is of the act of the
legislature, approved June 4, 1889, and
their successors in office, shall as &c
this issue of bonds be officially
known and designated as trustees of
the public improvement bonds of the
city of Ocala, Florida.
Sec. 4. That said bonds shall be
made payable to bearer and shall be
delivered by the said trustees after
being countersigned by the chairman
and secretary of the said board, and
only after the face value of any bond
so delivered, with accumulated inter.
est thereon from the date thereof up
to the time of delivery, shall have
been paid in cash. Said bonds shall
be delivered to the said board of trus-
tees as soon as printed or engraved,
and signed by the officers of the said
city herein required to sign said
bonds. 1t is hereby made the duty
of the said trustees to receive said
bonds and sell the same at not less
than par value thereof, together with
accumulated interest at the rate of
five per cent. per annum from the
date of said bonds to the date of SALE
and said trustees shall keep a book
in which they shall register the sale
of each of said bonds, to whom sold,
the date of maturity, and the amount
received.
Sec. 5. For the protection of the
citizens of the city of Ocala and OF
the holders of said bondss, the treas
urer of the city of Ocala may, i'm the
discretion of the city council, be re-
quired to give special bond. to be APP
proved by the said city council, in
such sum and at such time as the
said city council may by resolution
or ordinance require, conditioned for
the honest and faithful performance
and discharge of all duties devolving
upon him under the provisions of this
ordinance.
Sec. 6. There shall annually be as.
sessed and collected upon the real and
personal property within the corpor-
ate limits Of the said city of Ocala
a tax to pay the interest on all of said
bonds so issued, and also a tax to
form q cinl<fnor fund hA
Of the principal of the said bonds
herein provided for as the same shall
become due and payable. The
amount of the said tax so collected
each year shall be paid by the city
treasurer to the trustees of the said
bonds, and their successors in Office,
hereinbefore mentioned.
Sec. z. The city treasurer and 9TH
er agents or officers of the said city
Of Ocala collecting or receiving mon
ey from any taxes, assessments, or
other sources, said money to be ap.
piled to the payment of said bonds, or
any of them, or the interest thereon
or any part thereof, shall make on the
first day of each and every month
thereafter written report in dupli-
cate of the amount of money collect
ed or received for such purpose, and
such report must embrace a detailed
exhibit of all coupons received or TAX
en- up by such officer or agent, stat
ing particularly the date when each
coupon was collected, received, taken
up or paid, and the number of the
bond from which the coupon or cou.
pons may have been taken, also a
statement of all bonds redeemed, paid
or purchased, with the number and
amount OF each bond, the date of re-
,demption, payment or purchase, from
whom received or to whom sold, the
amount paid for each, or received for
each, which said reports shall be filed
with the city clerk on or before the
last day of the same month and a du
plicate copy filed with the secretary
of the bond trustees hereinbefore
mentioned.
/ Sec. 8. 1t shall be the duty of the
city treasurer, or other agent or Off
Ger, receiving or accounting for bonds
or coupons redeemed, paid or purchas-
ed, to cancel the same in the pres
ence of the person from whom he
shall receive the same, and shall de-
liver all such bonds and coupons to
the said trustees, together with his
report above mentioned, each month,
and the said trustees shall deliver the
same with any reports that they may
make from time to time for final pre-
servation or. destruction as the city
council may by resolution from time
to time direct. a 81
Sec. 8. The said city treasurer up
on recommendation of the trustees,
and by and with the advice and direc-
ton of the city council, from time to
time apply all the moneys which may
come into his hands for the redemp-
ton or payment of said bondss to the
purchase of said bonds or any part
thereof, or shall under the same d.
rection invest said money in bonds
of the United States or in bondss OF
any state, county or Municipality or
paving and sidewalk certificates Of
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