The Key West citizen. [volume] (Key West, Fla.) 1879-current, 1933-06-16

4
to the proper Appellate Courts,
as in other cases. The proper
Appellate Courts, shall, on the mo-
tion of either party, advance such
cause out of their regular order
and try and determine the same as
early as possible.
Financial
Section IA. "a No officer of
the City of Key West shall draw
a warrant on the City Depository
of said city unless the money to
meet said warrant is actually in
the hands of the City Depository
at the time it is drawn; however,
the City Council of said City may
from time to time by resolution
authorize the drawing of any war
rant or warrants on the DEPOSIT
tory of said city even though the
, money to meet said warrant or
!! warrants is not actually in the
hands of the Depository at the
time of the drawing thereof and
may also authorize the delivery
of such warrant or warrants to the
payees named therein.
(Section (2D, All warrants
heretofore drawn or drawn and
delivered in violation of said Sec
ton Al are hereby validated, APP
proved and confirmed.)
Section 45. The City Council,
by and with the consent of the
Mayor, shall have power to bora
row money to the extent of three
fourths of the amount of taxes in
any one year and to issue as evil
dence of indebtedness for the
money borrowed revenue bonds,
which bonds shall be signed by
the Mayor of the city, president
of the City Council and Auditor
! of the city, and attested by the
City Clerk under the seal of the
city.
Said bonds shall be issued sep
arately against any or all the
/ funds for which taxes are assess
ed and when issued against any
fund, the amount realized from
the loan on said bonds shall be
carried and credited to the fund
against which said bond was is
sued; that said bonds shall be is
sued in serial numbers beginning
with the number one, as against
such separate fund, and the hold
er of said bonds shall have a first
| lien upon the uncollected taxes to
the extent of the amount borrow
ed, and as against each fund for
which said bonds were issued; and
as the taxes are collected, the
bonds shall be paid in the order
in which they were issued, out of
the fund against which said bonds
were negotiated. No revenue
bond shall be issued for longer
time than one year and shall bear
such interest as the City Council
may fix.
Section 46. It shall be unlaw-
full for the City of Key West in
any one year to incur any indebt-
edness in excess of the appropria-
ton for said year except as pro-
vided in this Charter.
Section az. The City of Key
West shall have the right to issue
and sell bonds for municipal pur-
poses; provided such issue of
bonds shall be ratified by a ma
iority vote of all those qualified
electors of said city who are free
holders of real property within the
territorial limits of said city. vot-
ing at an election to be held for
that purpose, not to exceed in
amount twenty percent of the as
sessed valuation Of all taxable
property in said city.
A. ~
And whenever, for the purpose
of extending the time of pay
ment of the no existing indebt-
edness, which from its limits of
taxation the city may be unable
to pay at maturity. or whenever
il appears to the said City Coun-
ell to be for the best interest of
the said city to refund any such
, indebtedness now existing, the
City Council. by q resolution I'M
troduced and passed at any regu-
lar or special meeting, is hereby
authorized and empowered to
compromise, compound and re-
fund. settle with and to fund
any new existing indebtedness
lawfully made and undertaken by
the said city under authority Of
law or ordinance: and for this
purpose and without submitting
the same for ratification to the
/ qualified electors Of said city at
an election as hereinbefore pro-
yisied. the said City Council shall
have power To issue negotiable
coupon bonds as the City OF Key
West Of such denomination as they
may see fit. bearing interest At
a rate net To exceed five percent
per annlaus. and said bonds sE1all