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1925-03 Water BondsThe following resolution was proposed by Councilman Hancock who moved Its adoption. Motion seconded by Councilman Scharfschwerdt, and upon roll call the vote was as follows: Yeas Hays H. H. DeYarman I H. H. Hancock None L. F. Scharfschwerdt J. Denham Bird R E S 0 L U T 1 0 N Vn�EREAS, a regular meeting of the City Council of the City of Okeechobee, Florida, was held January 20, 1925, and WHEREAS, the City Council at said regular meeting took under consideration fm ordinance entitled: "An ordinance providing for the issuance of bonds4by the Mayor and City Council of the City of Okeechobee, Florida,, for the purpose of extending and expanding the water system of the City of Okeechobee, Florida, for furnishing water and fire protection, for erecting water works, laying water mains, purchasing land for erecting the same thereon, and for all other necessary things in connection there- with; providing further for the calling of a special election for the approval or rejection of the issuance of said bonds by the electors of the City of Okeechobee, Florida.* and WHEREAS2 said ordinance was passed at said meeting,by a unanimous vote of the members present of the City Council of said City; and WHEREAS, said ordinance entitled as above was signed by the President of the City Council, attested by the City Clerk, presented to the Mayor, he being then and -there present, and approved by the Mayor on the said 20th day of January A. Dj 1925; and WABREAS., the original of said ordinance as above entitled,,' after such oertif- ication and approval was filled with the City Clerk on said 20th day o - f January I, A. D, 1925s and designated and numbered ordinance number 85, and It W EREAS, said Ordinance as entitled-abovd provides for the issuance of bonds of the City of Okeechobee, Florida, in the amount. and for the purpose as set out therein; and UEREAS, said ordinance pr6vided for an election to be called by the Mayor ,,for the purpose of submitting to the qualified voters of said City of Okeechobee., Florida, the question of whether or not the bonds Provided by, said ordinace should be authorized and issued,, and S" notice of Special Eleation was given as required by law and by the "Provisions of the above entitled ordinance, and 4 4 6 provisions of the above entitled ordinance, and WHEREAS, the votes cast at said election were as follows:. For -the issuance of t110,000.00 in bonds for the purpose of extending and expanding the water system of the City,of Okeechobee, Florida ---29 Against the issuance of $110,000.00 in bonds for the purpose of extend- ing and expanding,the water -system of the City of Okeechobee., Florida- 1 Neutral ballot being marked both'for and against ----------------------- 1 The total number of votes cast were ----------------------------------- 31 and WHEREAS2 it appears there were a majarity of 28 votes cast at said election for the'issuance of $110,000.00 in bonds for the purpose of extending and expand- ing the water system of the City of Okeechobee,, Florida; and WHEREAS, said ordinance number 85,, provides that the bonds provided for in said ordinance shall be numbered from 1 to 110 inclusive., and shall be in denon*r- Inations of One Thousand ($1,000.00) Dollars each; said bonds shall be dated March 12 1925., shall bear interest at the raet of isx per cent. per annum after date, interest payable semi-annually., and the principal of said bonds shall be payable as follows: $11,000.00 on the First day of March A. D. 1945, and $11,000.00 on the First day of March of each and every year thereafter up to and including the First day of March A. D- 1954., U therefore be it RESOLVED that the bonds described in said Ordinance Number 85 in the sum of Dollars One Hundred and Ten Thousang($110,000.00) be issued as therein provided; to be used for the purpose: Of extending and expanding the water system of the City of Okeechobee, Florida, for furnishing water and fire protection, for erecting water- works$ laying water mains, purchasing land for erecting the same thereon, and for all other necessary things in connection therewith; and be , BE IT FURTHER RESOLVED,, that said bond in denominations of $1,000.00 each dated March 11 1925, with interest at the rate of six per cent. per annum after date, interest payable semi-annually and that the principal of said bonds shall be payable as,follows: Bonds number 1,20.4.5.6.7.9.9,10 and 11 payable March 1945 A. D. Bonds number 12, 13o 14o 15, 16, 17, 18, 19, 20, 21,'and 22 payable March 11 A. D. 1946. Bonds number 23, 24s 25s 260 27s 28,, 29,s 30s 31P 32 and 33 payable March 11 A. D. 1947 Bonds number 34, 35., 36s 37., 38., 39, 4o., 41., 42., 43 and 44 payable March ls 1949. Bonds number 45, 46, 47, 48o 49, 502 51, 52o 53P 54 and 55 payable March 1, A. D. 1949. Bonds number 56, 57o 590 59a 60, 61s 622 63s 64, 65 and 66 payable March 1., A.,D, 1950. Bonds number 67, 690 69s 70a 71, 72a 73, 74o 75o 76 and 77 payable March 1� 1951. A. Do Bonds number 79, 791 90s 81s 92, 93s 94s 95p' 86o 97o afid 99 pAyable March ls A. D. 1952. Bonds number $9, 90o 910 920 93s 942 95s 96, 97o 99 and 99 payable March ls A. D. 1953. Bonds number 100, 101, 1022 10 , lo4,, 105, lo6, 107, 109, 109.,and' 110 payable taroh 1, A. D. 1954. BE IT FURTHER RESOLVEDO that said bonds be printed in the following f orm: UNITED STATES OF AMERICA STATE OF FLORIDA COUNTY OF OKEECHOBEE CITY OF.OkEECHOBEE WATERWORKS EXTENSION BOND ISSUE OF 192'r- ."0' NO. I - The City of Okeechobee, for value received, hereby promises to pay to the bearer, the sum of One Thousand and no/100 Dollars ($1,000.00). gold coin of the United States, on the first day of March 19- / with interest thereon at the rate of six per cent per annum, payable semi-annually on the first day of September and the first day of March of each year upon presentation and surrender of the in- terest coupons attached hereto, as they severally become due and payable, both principal and interest payable at the Bank of Okeechobee, Okeechobee, Florida, or at the American Exchange National�Bank, New York, N. Y. , at the option of the hol- der. This bond is one of a series of one hundred and ten bonds aggregating $110,000.00 of like tenor, except as to its number and date of maturity, and is issued by virtue and in pursuance of Chapter 8318 of the laws of Florida Special Acts of 1919, and of Chapter 9955 of the Laws of Florida, Special Acts of 1923, and � of Ordinance Number 95 of the Ordinances of the City of Okeechobee, Florida, reg- ularly passed and approved January 20, 1925, The series of bonds of which this one, I - - was issued f or the purpose 6f extending and expanding the water system of the City W of Okeechobee, for the purpose of furnishing water and fire protection, for erect - ing waterworks,, laying water mains., purchasing land for erecting the same thereon and for all 66her purposes in qonnection therewith; The issuance of said series of is % bonds., of which thisLone2 was approved by an affirmative vote of a majarity of the electors voting for each purpose separately, at a Special Election for that purpose duly called and held under the provisions of said Chapter 9319 and 9955 of the Laws -of Florida and said Ordinance Number 85 of the Ordinances of the City of Okeechobee., Florida. It is hereby certified that the issue od bonds, of which this is one, is within every deb$ and other limit prescribed by the Constitution and Laws of the State of Florida, and is made in strict conformity with the 00notitution and Laws of the State of Florida and the Ordinances of the City of Okeechobee, Florida, duly authorizLng the same, and that all proceedings essential to the validity of these bonds have been performed and that every requirement of law relating to the issue thereof has been duly complied with. IN WITNESS WHEREOF., the City of Okeechobee,, Florida has caused this bond., ,.bearing date of the lot day of March, 1925, to be signed by its Mayor, Counter- signed by the President of the City Council, attested by the City Clerk and its �seal to be hereto affixed. -T 11 f (CORPORATE SEAL) Attest: My MR. Mayor Countersigned/6/"4 AMDENT OF/THE CITY UOUMIL U 0 0 U P 0 N On the first day of September (March-) s 19-/­�� . the City of Okeechobee, Florida will pay to the bearer, $30-00, at the Bank of Okeechobee, Okeechobee, Florida or at the American Exchange National Bank, New York City, New York, at the option of the holder, for six months interest then due on Waterworks Extension Bond, issue -of 1925 Number AWXY VA (CORPORATE SEAL) Countersigned IV friesident of,the dity Council. Attest: I and be it further RESOLVED,, that the City Attorneys be instructed to proceed with the validation of said bonds and have same printed and certified, and be it further RESOLVED, that the City Attorneys be instructed to properly advertise, in compliance with law, notice that bids will be received by the City Council at such time as,:notice shall specify for the sale of the bonds. Upon motion the Council adjourned. Attest: CITY CLERK. "61'd President4ity Council.