The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1916-01-25

Series No. s Ordinance No. Q.
An Ordinance to be EnfffIedf

An Ordinance to Provide for the Re-
demption of certain Special Improve
ment BodnE OF the City OF Pensacola
maturing July LIST, 1915.
Whereas under and pursuant TO Chap
ter 60S3 Laws Of Florida, OF 1903 en-
titled: An Act relating to the Improve
ment by the City of Pensacola OF its
Streets, Alleys and Public Ways, and
Ordinances of said City passed in pur-
suance thereof. said City Of Pensacola
did issue certain bonds known as
Special Improvement Bonds of the City
Of Pensa cola, Florida" each Of the de-
nomination of i've hundred l$50O) dollars
dated July LIST, 1910, designated series G.
group s, and numbered five hundred
sixty-one to i've hundred eighty (561-
500 inclusive, which said bonds are pay
able six years after the date Of their is
suance, and win mature on July 1st,
1915: and
Whereas, the option was duly reserved
by said City to redeem any said bond
at any time within the year preceding
the time Of its maturity, at par and ac-
crued interest, upon giving thirty 600
days notice by mail to the registered
holder at his registered address, If the
bond be registered, and by publication
once each week of said time, in a news
paper in the City of Pensacola, and in a
newspaper published in the City of New
whereas, there is now in the city
Treasurery to the credit of the said
Special Improvement Bond fund, money
paid by the owners OF property against
which Special Assessment Certificates
were issued, as provided by said Chapter
60S3 and ordinances aforesaid, and
pledged to the payment of said Special
Improvement Bonds sufficient in amount
to redeem at par and accrued interest on
the LIST day of April, 1915, said above
mentioned bonds; and
whereas. the Board OF Commissioners
of the City of Pensacola deem &c advisa-
BILE that said bonds shall be redeemed
on said LIST day of April 1915, now, there
fore,
Be it ordained by the Board OF Com
missioners of the City Of Pensacola:
Section 1. That the City Of Pensacola
shall exercise its option to redeem at
par and accrued interest on the LIST day
of April 1916, at the ONCE of the United
States Mortgage and Trust Company, In
the City and State Of New York the
following of the above mentioned Special
Improvement Bonds OF the City of Pen
sacola, to-wit:--
Series c, group 5, Nos. ave hundred
to 5s0), inclusive, of the denomination
OF five hundred dollars (S500.) each,
dated July /, 1910, and maturing on July
redemption OF said bonds the Comp
troller shall draw warrant on the City
Treasury payable out of the Special I'M
provement Bond Fund Of 1909 in the
Thousand and Two Hundred Dollars
Oslo, 200.00) which shall be transmitted
to the United States Mortgage & Trust
Company, In the City and State of New
used and applied by it soley to the pay
ment and redemption OF said bonds at
the time and manner herein provided.
Section 2. That the Mayor and Comp
troner shall cause to be published in a
newspaper published In the City OF PEN
sacola, once a week for thirty days pre-
ceeding April 1, 1916, and in a news
paper published In the City of New York,
due notice OF the intention of the City
of Pensacola to exercise its option to
redeem, and of it's determination to re-
deem at the time Mace and manner. :
each Of said Special Improvement Bonds.
as is herein provided, and that the
Comptroller shall man at least thirty
days preceding April l. 1915, a copy of
said notice to each registered holder Of
said bonds at his registered address, II
any of said bonds be registered.
Section g. That this ordinance shall |
take effect Immediately upon its passage. |
Passed January 10, 1916.
Attest: c. w. EGGART,
City Clerk. /