The Ocala evening star. [volume] (Ocala, Fla.) 1895-1943, 1921-07-21


employ a bond attorney of national
reputation to examine the proceed.
lngs had in connection with the isss.
ance of the county bonds authorized
by the election held April 20, 1920
and TO secure his opinion in writing
as to the validity of same, which ouin-
ion shall be filed with the clerk of said
board and kept by him for the inspec-
ton of any person interested.
Mr.. R. L. Clyburn, a member Of
said board. introduced the following
resolution, which on motion duly made
and seconded was adopted by unani-
nous vote of all members:
Whereas by an election held In
Marion county. on April 10th, 1920.
the issuance OF five hundred sixty
thousand dollars Cs56O, OOO) of bonds
OF said county was authorized: and,
Whereas by proceedings heretofore
had it has been determined that the
said bonds of said county shall be IN
the denomination of one thousand dol
lars $4,000 each and bear interest at
the rate of five per cent (5%l per
annum from their date, interest pay
able semi-annually on January LIST and
July LIST, all of said bonds to be dated
July 1st, 1920 and mature as follows:
One hundred forty bonds five years
go from their date; two hundred
bonds ten years (10) from their date.
an dtwo hundred twenty bonds fifteen
years (15) years from their date; and.
Whereas said bonds have heretofore
been validated and confirmed by a de-
cree of the circuit court of Marion
county, Fla; and,
Whereas this board on the 9th dav
of July, 1921, after due and legal
notice published as required by law.
received bids for the purchase of the
said bonds and accepted the bid of
the Munroe & Chambliss National
Bank of ocala, the Ocala National
Bank, the State Bank of DunneIlon
and the First State Bank of McIn-
tosh, Florida; now therefore be it
Resolved that each of said bonds
shall be in substantially the following
form Except as to number and date
of maturity towit:
United States of America, Marion
County. State of Florida.
$1,000 Road Bond.
The county of Marion, in the state
of Florida, will pay to the bearer on
the ..... day of $500. 49,. at the
National Bank of Commerce in New
York City. N. Y. the sum of one thou
sand dollars in lawful money of the
United States of America, with inter-
est thereon at the rate of five per
cent per annum, payable semi-annual-
ly at the same place on the first day
of January and July of each year,
upon preservation and surrender of
the paper coupons herunto attached
at said National Bank of Commerce
in New York.
This bond is one of series of FIVE
hundred sixty bonds of like date,
numbered from one to FIVE hundred
sixty, both inclusive, in denomina-
tons of one thousand dollars each, to-
wit: $50 bonds of one thousand dollars
each, making in all SEQ bonds for the
sum of FIVE hundred sixty thousand
dollars, for the purpose of building
hard surfaced highways for said
county of Marion, and is issued for
value received.
This bond and all the others of this
series, are issued under and pursuant
to the laws of the state of Florida,
and resolution of the board Of
county commissioners of Marion
county, passed by said board in ses-
sion February "a, 1920, and with the
approval of a large majority Of the
votes cast at an election held in said
county, April 20. 1920, and m full
conformity with the laws of the state
of Florida.
And it is hereby certified and re-
cited that all acts, conditions and
things required to be done precedent
to and IN the issuing Of this bond,
have been done and performed in due
form of law. and that the total indebt-
edness of this county, including this
issue of bonds, is not IN excess Of
any statutory or constitutional hmi-
tation of Indebtedness, and that pro-
vision has been made for the levy Of
direct annual tax upon the taxable
property within said county sufficient
to pay maturing interest and create a
sinking fund 70 rthe retirement Of the
principal thereof at maturity.
In witness whereof, the board Of
county commissioners of said county
of Marion has caused this bond to be
executed on behalf Of said county BY
the chairman of the board of county
commissioners, attested by the clerk