1920-024 - Time WarrantsMMOLUTION
Whereas an emergency exists, and it becomes necessary in the
opinion of the Council for the p-arpose of continuing the work on
the City streets, water works -and sewer construction, and for the
purpose of retiring existing indebtedness against the city, it
is considered to the best interest of the City to issue Time Warrants
in t1 -B amount of ',)20,000.00 in according with the &cts of the
Legislature of 1919, Chapter 8318, Section 47.
TIEREFORE BE IT RESOLVED by the City Council of the City of
Okeechobee that the City attorney be authprized and directed to
pre are warrants for the issuance of Time Warrants in the amount
�of 320,000.00, -,payable in twelve months after date, bearing interest
-at 71o, and prepare all ' -necessary papers for doing all necessary
leagal work for the carrying out of the purpose of this resol-Lition,
and _ report the same to the City Council at the next regular meeting,
being the second 'Tuesday in 111arch.
Motion was madr-� by 0. 0. Davis and seconded by F. 0. Adams, that the
foregojng Resolution be adoTited. SaTre carried unanimously.
on motion of 0. 0. Davis, seconded by IT. 0. Adams, the Council -
adjourned.
,�Attest:
'L JAI
QkPi � r lent bf ouncil
Ci Clerk.