Palatka daily news. [volume] (Palatka, Fla.) 1919-1994, 1921-12-14
.1(IKA DAILY NEWS

of such Bonds; and to Require the
Levy of Taxes to Pay the Interest and
I" Create Sinking Fund for the Pay
ment of the Principal of SAID Bonds;
and to Provide for the Deposit ana
Safe Keeping and Disbursement OF
the Moneys and Funds Derived from
the Sale Thereof
BE IT ORDAINED BY the Mayor ana
City Council of the City of Palatka'
Florida:
Section /. That there shall be issued
by the City of Palatka, 1875 bonds, each
in the sum of 100000. in all aggre
eating $125,000.00, bearing interest at
the rate Of per centum pei, an aftnt
date; that said bonds shall be number
ed consecutively from | to 1876 both IN,
elusive; that each and every OF SAID
bonds shall bear date December !,
1921; that 10 of said bonds, numbered
from to Is, both inclusive, shall be-
come due and payable 10 years after
date; that 40 of said bonds numbered
from 16 to So, both inclusive, shall pc
come due and payable 20 years after
from Sc to 1875 both inclusive, shall be-
come due and payable 80 years after
date; that each and every Of SAD
bonds shall be. payable in the City OF
Palatka, at the office of the CITY
Treasurer of said City, or at the OF;
fee of Importers & Traders National
Bank, in the City of New York, State
of New York.
Section 2. That said bonds shall be
signed in the name of the City of Pa
latka, Florida, by the President OF me
City Council of the City Of Palatta'
and by the Mayor of the CITY OF "a
iatka, and the seal of the City OF "a
latka shall be thereto affixed and ~,
tested by the Clerk of the City CouIcii
of the City of Palatlia, and upon SO be
| ing signed and sealed, shall De DEW
cred to the depository of the City Oh
Palatka for safe keeping.
! Section 3. That as soon as practi'a .
| BILE after the passage and approval OF
this Ordinnce, the Clerk of the CITY
Council, shall advertise said bonds OF
sale, that said advertisement shall pc
published six times during perod OF
thirty days in a daily newspaper pup
iished in the City of Palatka; that sac
period of time for the publication OF
the advertisement of the sale of salo
bonds shall commence on the date OF
the first publication Of said ADVERSE
ment and said advertisement shall be
published on the last day, Of said per
Tod of time. and the word during as
used herein shall be construed TO IN
clude the first and last publication
Provided however, that nothing in thi:
Ordinance shall be construed to pro
hibit the City of Palatka from advcr
Using said bonds for sale, as OFTEN al
may be desired, in any other pubii
cation or publications. which the sal'
City Council may select in addition u
the publication above referred to.
Section 4. And said City Council !
hereby authorized and empowered U
reject any and all bids for said bonus
and to readvertise the same as oftel
as the City Council shall deem neces
sary for the purpose of securing bid
therefor, acceptable to the City Coun
Gil of the City of Palatka.
Section 5. And said City Council !
hereby authorized to sell said bono;
der or bidders bidding therefor, as WI
bring to the City of Palatka the high
est price for said bonds.
Section 6. That the moneys derive
! from the sale of said bonds. shall b
deposited in the City depository in
: fund separate from all other funds
the City of Palatka. and shall be pal
out only for the purposes mentions
l in said Chapter 9041 of the Acts of IN
: Legislature of the State of Florid
J, said City Council.
e Nothing in this Ordinance shall /
construed to prohibit the city OF ~
e latka from Withdrawing the said funt
F., the City of Palatka, in the, event higl
d er rate of interest on the daily balant
= on hand, can be obtained from al
other reliable bank or banking nous
: in the City of Palatka, and that u
$ same kind of security shall be REQUIRE
e of the City depository or. any oth
+ bank or banking house having sa
d funds on deposit, for the safe keeplr
e and payment of said funds, as Is no
d required of the City depository for q
e safe keeping Of other funds of Il
u said City.
It Section u That tho snid horas shs
o he substantially in the form folloWin
y UNITED STATES OLE AMERICA
e STATE OF f LUklDA
F,Trv OF pAT.ATKh