The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1918-10-02
AN ORDINANCE

To Be Entitled: An Ordinance Relating
to the EnsravIne, Sale and ISSUANCE a, Go OF
Improvement Bonds OF the City o. sen-
H sssoa. as ssS snd 18th, 1915.
Whereas. Under and pursuant to the
provisions Of oos $3.50 Nav OF iath
t faoIi the City of Pensacola to Issue
and Provide for the Payment Thereof
and under and pursuant to the provisions
of the ordinance adopted by the p soaso
cola on July Sth, 1918, entitled: An Or.
,dinance to Provide for the Issuance OF
Bonds of the City of Pensacola, Florida,
Under and by Virtue of Act of the
Legislature of the State of Florida. en- !.
titled: IAN Act to Authorize the City OF
Municipal Purposes. and Provide for the
Payment Thereof" approved May II,
1906" and the amendments made to said
ordinance by the ordinance adopted by
said Board on July Is, 1918. and under
and pursuant to the provisions of Chap
ter GAS, Laws of Florida of 1919 an ACT
ment for said city; etc, an electlon was
duly called and held in the several elec-
ton precincts of the City OF Pensacoa on
August 10th, 1918. at which election SAID
ordinances and the issuance OF improve
ment bonds of the City of Pensacoia as
crowded in said ordinances and In said
proved by the majority of the votes cast
| in said election by the quahhed voters OF
then
who had paid taxes on real estate or per
sonal property to said city for the year
| for which taxes were last due, said
| favor Of the Issuance of said improve
| ment bonds for each and all the purposes
and amounts as specified in and proposed
| by said ordinances, and
Florida of 1918. all the privileges, powers,
duties and responsibilities vested in or
| imposed upon the Board of Bond Trustees
| of the City of Pensacola, provided Tor by
| said Chapter $500. Laws of 1905. were
transferred to, vested in and imposed
upon the Board of Commissioners therein
I provided for; and
| Whereas. At elections duly called and
held in said City of Pensacola FOR r the
Commissioners to constitute the Board OF
Commissioners created by said Chapter
6746, Laws of Florida of 1913. George II.
Sanders were duly elected as said Com
mssioners. and have duly qualified by
office, and otherwise as prescribed by
law, and the ordinances of said city, and
are duly constituted the Board of Com
missioners created by said Chapter 6746;
BE IT ORDAINED BY SAID BOARD
! OF COMMISSIONERS OF THE CITY
| Section 1. That said Board Of Com
! missioners shall have engraved coupon
ionds of the City of Pensacola, to be
| City of Pensacola. Florida to the amount
+! of Two Hundred and Ten Thousand
| Dollars (s21o. 900 .00), each of said bonds
/ TO be of the denomination of One Thous-
and Dollars (s1, 900. o0); to be numbered
/ to 30 both inclusive; and to be dated
October 1st, 1918, to bear interest at the
lrate of five per cent per annum. payable
! semi-annually, April LIST and October ist.
| to be payable thirty years after said
date, with the option on the part of the
| city reserved to redeem any or all of said
bonds at any time after the date thereof
+! at par and accrued interest The prin-
/ cipal and interest of said bonds shall be
! pa yabIe at the office of the United States
| Mortgage & Trust Company in the City
/ and state of New York.
| Section 2. That the form of said bonds
| and coupons shall be Substantially fol-
/ lows:
/ UNITED STATES OF AMERICA.
/ STATE OF FLORIDA.
/ estate Coat of Arms
Number. Number -,
/ CITY OF PENSACOLA,
IMPROVEMENT BOND.
October. 1918.
/ For value received the City of Pensa-
| cola a municipal corporation of the State
| of Florida hereby acknowledges itself in
| debted and promises to pay to bearer the
/ sum of One Thousand Dollars $4,000
| thirty 600 wears after date, with interest
at the rate of FIVE (s3 per centur1 payable
| senri-annually, April 1st and October Ist
/ on presentation and surrender of the an
i nexed interest coupons as they seyeraIly
become due. both principal and interest
| seing pa yable in gold coin of the United
/ States of America Of the present weight