1920-10 Sewer Bonds1331,
RESOLUTION ADOPTING SEWERAGE BONI)
On motion of Councilman R. L. Pearce, seconded by Councilman
C. R, Brooks, the following resoliation was introduced:
WHEREAS, the City Council of the CITY OF OKEECHOBEE, FLORTDA, has
heretofore found that it is neceseary'to provide for the construction of
sewerage in said City, and to issue bonds therefor:
TT IS T= EFOR75, RESOLVED by the City Council of the City of Okeechobqe,
Florida, that for the purpose of constructing sewerage in said City, there�
are hereby authorized. to be issued 10 sewerage bonds for the aggtegate sum.!
of 45,000.00 of 4,500.00 each, numbered ftom I to 10 both inclusive, bear-
ing interest evidenced by coupons at the rate of six (6) Der centum, per
annum, Dajble semi-annnally, on the first.days of October'and April in,
each and every yeark said bonds shall be &ated the first day of April,
A.D. 1920, and become due as follows: 4500.00 on the first day of April
,,.D:1940, and �500.00 every year thereafternp to and including the
first day of Anril,"'.D. 1949, said bonds to have interest coupons
attached thereto. Said bonds are to be in substantially the following
form, as adopted by the said City Council and payable at the Bank of
Okeechobee, Okeechobee, Florida- ' or at the American Exchange National Bank
Mew York City, State of New York,at the option of the holder; and for the
prompt payment of these bonds ay- ' d interest thereon as they become due,
ihe full faith, credit, and resources of the said Olity o -j" Okeechobee are
hereby irrevocably pledged.
IT 15 ?UFT1M RE3OLV:]D that the bonds hereby authorized shall be in
substantially the following form:
Number UNITED STAT33 OF ATMICA Dollars
STATE OF FLORTX,
COUNTY OF OKEECHOBEE
CITY OF OKEEMHOBEE
SEVMAGE BONDS
KNO17 ALL 1.7,11 BY TT., -'SE PRESEN713, that the City of Okeechobee, in the
County of Okeechobee, State of Florida, a municipal corporation, duly
,organized under the Constitution aEd Laws of the State of Florida, for.
value received, acknowledges itself to owe, and promises to pay to bearer,
on the first day of April, A. D. 19 .,-3 , the principal sum of FIVE HUI\'D'.'-',ED
t$500.00) DOLLARS with interest thereon from the date hereof until paid,
at the rate of six (6) per annum, payable semi-annually on thefirst
days of October and April of each and every year, until the principal
hereof shall be-fullj paid, upon presentation and surrender of the'interest:!
coupons h;reto attached, as they severally become,due, both principal and
interest are payable in gold coin of the United,States of America, at the
Bank of Okeechobee, Okeechobee, Florida, or the4.�:rierican Exchange National
Bank,_New York City, 3tate of New York, at the -'option of the holder, and
for the prompt payment of the installments of principal and interest of
this bond, as they respectively become due, the full faith, credit and
-y are hereby irrevocably pledged.
resources of said Oit
This bond is one of a series of like date and tenor, except as to
number and maturity, issued by the City of Okeechob'ee, Florida, under the
authority of and pursuant to and in full compliance with the resolutions
and ordinances of said City duly passed, approved and adopted, as required
by law, and pursuant to and in full comfliance with all the requirements
_W `41
I
-2- 135
Of the Constitution and the Laws of the State of Florida, for the purpose
of paying a portion of the coats of constructln7 sewerage in said City.
Tt is further certified and recited that &.11 acts, conditions and
things required by t1he Constitution and Laws of the State of Florida, and
b. -)r the 0harter-of said City and amendments thereto, to exist, happen and
be verformed, precedent to and:ftthq issuance of this bond, exist, have
happened and been duly done and performed, in regular and due form, time �i
and manner as required by law, including a validation thereo.IC by a decree
of the Circuit Court of the Fifteenth judicial Circuit of the State of
Florida, dated on the day of A. D. 1920, and -that the
amount of this bond, together with all other indebtedness of said City,
does not exceed any limitation imposed either by the Constitution, the
Statutes of Florida or by the Charter of said Cit,,T or amendments thereto
MTT '7 :1
TIT 1T .'I --rF J1
7
the said City of Okeechobee has caused this bond
to be siRned by its Mayor, countersigned by the President of the City
Council, and attestod by its Clerk, and its corporate seal to be impressed�
thereon, and has caused the interest coupons theret-o attached to be exe-
cuted with the facsimile si�-_nature of said officials, this the lot day of
Anril, A. D. 1920. 0
D. E.- Austin
Mayor, City of Okeechob3ii,
Florida.
C0UNT?,R3IGT7_-'D:
D. F. McNeill
President of the City Council
of the Mty of Okeechobee,
ATTEST: Florida.'
'J. W. Dunnicliff
City of Okeechobee, Florida.
(SEAL)
1,10UPOF
On the first day of October,A. D. the 'ity of Okeechobee, in
the State of Florida, promises to pay to bearer Fifteen Dollars.(�15.00)
at the Bank. of Okeechobee,. Okeechobee, Florida, or at the &Tnerican
Exchange 11ational Bank, City of New York, 33tate of New York, at the
,jontion of the holder, being the senii-annual interest due that day on its
bond dated April ist, A. D. 1920, No. I
D. E. AnstiL
I.Tayor, C'ity of Okeechobee,
Florida.
COUNTERSIGITED:
D. "R'. McReill
President oio' the '."itj Courici-177
ATTEST: the City of Okeechobee, Florida.
N. *61. Dunnicliff
Clerk, City of Okeechobee, Florida.
(SEAL)
The above resolution was on motion of Councilman C. R. Brooks
seconded by Councilman R. .1"j. Pearce duly adopted by the following
unamimous vote, all voting yea, aiid rione nay.