The Key West citizen. [volume] (Key West, Fla.) 1879-current, 1939-09-07

would be applicable, the purpose and
intention of this proviso being to di-
rect and to require that all moneys
derived from the additional sources
or revenue provided by this Act as
amended. shall. if deemed advisable,
be used for the best interests of the
Road Districts. Road and Bridge
Districst. Special Road and Bridge
Districts. and Counties of the State
by the purchase and acquisition of
all outstanding bonds thereof which
may be acquired at greatly depre-
ciated prices below to par value
thereof. whether such bonds be ma
tured or unpatured or be in default
or not for principal or interest. The
State Board of Administration shall
give due notice of its purpose to
purchase any of such bonds by pub
LEGATION of such notice, at least one
of which notices shall be published
in a newspaper regularly published
in the County where such bonds
were issued. Such notice shall call
for sealed bids and shall state the
time and place at which said bids
shall be opened. Said Board of Ad-
ministration shall have the right to
reject or accept any and all bids
of Administration shall have the
right to prescribe the security for
the performance by the bidder.
'(e) All bonds purchased and ac-
Quired by the said Board of Admin
istration under Paragraph cd of this
Section as amended shall not be can
celled but shall be held in trust by
the State Board of Administration to
be retired by said State Board of
Administration only when specially
determined by said State Board of
Administration to be for the best
interest of the State of Florida and
the several counties and Districts
thereof contemplated by this Act.
$50 The Board of Administration
shall keep a full, complete and &C
curate record of all purchases of
bonds made under this Section as
amended. of the price paid for same
and from. or through whom pur-
chased. All securities purchased
shall remain in the hands of the
State Treasurer to be held by him as
other funds and securities coming
into his custody are held as provided
by law.
"(g) Resolutions adopted by
County Commissioners of the several
Counties under Paragraph i'd for
the purpose of approving the pur-
chase of bonds by the State Board
of Administration as by said para
graph authorized. may contain such
restrictions. conditions. and limita-
tons as to price to be paid, and
class. series or issue to be pur-
chased. as the County Commission
crS may see fit to approve. and may
be given for such period of time as in
the judgment of the County Commits
sioners is deemed for the best inter
est of the County. Resolutions so
adopted may be reScinded by the
County Commissioners, or thereafter
amended or modified with like cf-
feet and authority as is given for
the original adoption of such reso-
lutions.
Eighty percent 800 of any
surplus in any county account,
except sinking fund account, after
such application asis provided here
in shall be RENTED to the State
Road Department to be used by the
said State Road Department in the
counties which are entitled to such
credit in the construction of any
State Road before that time desig-
mated on such counties, regardless
of the preferential system. and/or in
the purchase or lease of any toll
bridge now or hereafter situated in
said counties, or any bridge con-
structed by such County or any State
Agency therein. and which forms a
link in any road now or hereafter
designated a State Road.
Twenty per cent GOD of any
such surplus in any county account,
except sinking fund account, after
such application. shall be RENTED
to the county for the use of which
such county account was created, and
shall be used by such county only
for the construction and mainte-
nance of roads therein
mo second gas tax funds, placed
to the credit of the several counties,
which funds are administered by
the State Board of Administration.
shall be used for any other purpose
than as expressly provided in this
Section II. any law or laws of the
State of Florida to the contrary not
withstanding.
Sec 2 All Acts of parts of Acts
in conflict herewith are hereby re-
pealed.
Sec. 8. If any part of this Act
shall be held unconstitutional or be
ineffective, for any reason, the re-
mainder of this Act shall not be af-
fected thereby. but shall be in force
notwithstanding any such uncon-
stitutionality or any ineffectiveness
of any part.
Sec 4. This Act shall take effect
upon its becoming a law.
Approved by the Governor June Q,
1889.