The Ocala banner. (Ocala, Marion County, Fla.) 1883-194?, 1921-07-29
INTERESTING PROCEEDINGS or
COUNTY COMMISSIONERS
CONTINUED from Page Five

tOOnt1u0CQ 1lOu I0SC 11NC
mobile to Mr.. ]. A. Triplett as an
error.
Mr.. J. NJ. Thomas and others ap-
peared before the board in regard to
the sale of the Marion county bonds.
Mr.. ]. r. Moorhead appeared and
presented blue prints of the survey of
road No. of Dunnellon special road
and bridge district No. and discuss
ed with the board the proposition Of
the proper construction Of said road
Mr.. J. A. Talton introduced the fol-
lowing resolution, which was unani-
mously adopted, te-Wit:
Whereas, this board at a meeting
held on the 18th day of July. 1920,
adopted resolution providing for a
sinking fund for the, redemption of
the $560,OOO of Marion county bonds
authorized by the result of an cleo
ton held on April 80, 1920; and
Whereas, at the time of the adop-
ton fsaid resolution, it was contem-
plated by this board that said bonds
would be Immediately sold, and that
there would be paid into the sinking
fund from the proceeds Of taxes levied
for the year 1920. the amount provid-
ed in and by said resolution; and,
Whereas, said bonds have not yet
been sold, and the tax levied for the
year 1920 on the property of said
county has been declared illegal, and
its collection enjoined by the courts;
and,
Whereas. the said sinking fund
provided for in and by said resolution
will therefore be insufficient to retire
said bonds as and when they mature;
now there be it
Resolved that the action of the
board in adopting the resolution afore-
said is hereby rescinded; and be it
further resolved that it is the sense
Of this board that the sum to be paid
into the said sinking fund should be
$4,000 per annum, which sum is
hereby provided for as a sinking fund
to meet the principal of the said bonds
at maturity. And it is hereby ordered
and directed that a tax sufficient to
realize said amount be levied upon
the taxable property of said county
tax so levied shall also be sufficient
for the year 1921, and each. year there
after, until all of said bonds have
been paid. Resolved further, that the
tax so levied shall also be sufficient
to realize in addition to the said sum
of $4,000 the amount of interest be-
coming due on said bonds each year.
1t being p. m. the board ordered
that the bids received on the 100000
Marion county bonds be opened. Bid
was received as follows:
Hon. Board of County Commission
ers. Marion County Florida: Gentle
men For the $4,000 5 per cent
bonds OF Marion county, in the denom-
nation Of $1,000, dated July LIST. 1920
maturing July 1st, 1925, interest and
principal payable at some bank or
trust company in the city Of New
York, we will pay you in current
funds the sum of $129,2 200 and ac-
cured interest to date of delivery to
US. All coupons due, inclusive Of .Iulv
!, 1921. to be detached at the time Of
delivery. We will further agree to
furnish blank bonds.
Our bid is subject to our being .nr.
nished complete transcript Of uro-
ceedings, including valuation. and
that all proceedings be approved nv
our attorney. We agree to take mn
and pay for bonds within ten dars
after approved.
We hand you herewith our check for
$4,000 guaranteeing compliance with
the terms of our offer, should same
be accepted. This check is to be held
by your board pending the approval
of our attorney of all proceedings and
to apply as part cash payment for
bonds. Very trnlv vo,,rs
G. B. SAWYERS CO..
BY G. B. Sawyers.
The following bid was opened:
ocala, Fla, July 9Th, 1921.
TO the Board of County Commits
sioners of Marion County, Florida:
Gentlemen-Fo the five hundred and
sixty thousand ts56O,OOO) par value
Marion county per cent road bonds
dated July 1st, 1920, payable one hun
dred forty thousand dollars (s14oOOO)
nve t5) years from date. two hundred
thousand dollars ($2OO,00O) ten (1O)
years from date, and two hundred
twenty thousand dollars 5000 900,
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