1928-01 City BondsRESOLUTION
A RESOLUTION PROVIDING FOR THE ISSUANCE AND SALE OF BONDS BY THE MAYOR AND
CITY COUNCIL OF THE CITY OF OKEECHOBEE, FLORIDA2 FOR THE PURPOSE OF REFUNDING
CERTAIN NOTES OF SAID CITY.
BE;IT RESOLVED BY THE MAYOR AND CITY COUNCIL OF THE CITY OF OKEECHOBEE, FLORIDA:
Section 1. The Mayor and the City Council of the City of Okeechobee, Florida,
subject to the provisions of Chapter 11855, Laws of Florida, Acts of 1927, and of
this resolution, axe hereby authorized to issue bonds of shkd City under the seal
of said corporation in the amount of Fifty-five Thousand ($55,000-00) Dollaxs., -for
the the purpose of paying and refunding the following promissory notes of sild
City, in the several amounts, and bearing respectively the following dates, and
maturities, and
payable
to the
respective bearers, as follows:
Date
Matuxity
Payee
Amount
March
16t
19 29 p
May
i6�
19280
American LaFrance Fire Engine Co., Inc.
$41876.00
Maxch
16P
19282
May
16�
1928,
C. F. Walker
4.,200.00
March
16,
1928,
May
16,
1928,
Pauley Jail Building Co.
2;L79.66
March
16)
1928,
May
16,
19282
Fenole Chemical Co.
1p 6.14
Maxch
163%
1928,
May
16,
1928)
Peoples Bank of Okeechobee
19,989.47
March
16P
1928p
May
16p
1928p
Hanchett Bond Co.
17..481.92
March
16)
19 28;
May
16,
1928,
Florida Power & Light Co.
9 .28
March
16,
1928,
May
l6v
19282
Neptune Meter Co.
519-70
March
16t
1928,
May
16,
1928,
Universal Traffic Control Co.
100.00
March
16)
1928t
may
-16,
19282
'Walker, Evans and Cogswell Co.
156.65
March
16t
1928,
May
16,
1928,
Universal Disinfectant Co.
170-95
March
16;
1928)
May
16)
1928)
A. -O. Greynolds & Co.
144.00
Maxch
162
19282
May
16,
19280
R. P. Fletcher
400.00
March
16),
19281
May
161
1928,
Lon Stewaxt
400.00
Maxch
16t
1928)
May
16�
19 26;
Ida E. Chandler
500-00
Maxch
163%
19282
May
16;
1928
Ohio Valley Asphalt Co.
100.00
MarA
16�
1928)
May
16)
19 28'
Coke Jones & Co.
196-51
March
16)
1928t
May
16)
1928:
F 'E. Lawrence
105.00
Maxch
161
1928)
May
16)
1928�
Scaxborough Motor Guide Co.
110.00
1[axch
16)
1928
may 16,
1928 p
C. A. Steed & Sons
69-30
March
10")
1928:
May
16,,
19281
Pan kierican Oil Go.
131-39
Maxch
16)
1928,
may
16
1,�261
Standaxd 041 Co.
219.03
ialaxch
16
1026
Mal,
16:
1026)
L. W. Jennings
6-0.00
all of which said notes
are general obligations of said Citv. lezallv
authorl nprl
0
Said bonds to be signed by the Mayor, oountersigned by the President of the
City Council of said City, and attested by the Clerk of said City, with the seal
thereof affixed, with interest coupons attached, signed in like manner, and with
the fac simile signatures thereof lithographed on said interest coupons. The amount
of said bonds s4all not exceed Fifty-five Thousand ($55,000,00) Dollars.
Section 2. That the bonds issued under the provisions of this resolution shall
be in denominations of One Thousand ($1,000.00) Dollars each, and shall bear interest
payable semi-annually, at the rate of six per centum per annum; both principal
and interest payable at the Hanover Nationa.1 Bank, New York City, New York, or
at the Peoples Bank of Okeechobee, Okeechobee, Florida, at the option of the holder;
and to be dated March lst, 1928, interest payable on the first day of March, and on
the first day of September of each and every ybax after date of issuance until
matuxity of said bonds. The principal of said bonds shall be payable as follows:
Three Thousand ($3,000-00) Dollars on the first day of Maroh,A. D. 1931; and
Three 7housand ($13,000.00) Dollaxs on the first day of March, A. D. L932; Four
Dollars
Thousand ($4,OOO.OWon the first day of Maxch of each and every year thereafter
up to and including the first day of Maxch, A. D. 1936, and Five Thousand
($5�,000.00) Dolbws on the first day of March, of �each and every year thereafter
up to and including the first day of March) A. D. 1943. Said bonds to be numbered
from -one to fifty-five� both,inclusive.
Section 3. That said bonds be priltdd in substantially the following form:
UNITED STATES OF AMERICA
STATE OF FLORIDA
CITY OF OKEECHOBEE
REFUNDING BOND
ISSUE OF 1928
No. $Lj 000. 00
The City of Okeechobee, in the County of Okeechobee, and State of Florida, for
value received., hereby promises to pay to the bearer the sum of One Thousand and
'5 No/100 ($1,000.00) Dollars, gold coin of the United States, on the first day of
March.A. D. 19__, with interest thereon at the rate of six per centum per annum,
payable semi-annually, on the first day of March, and on the first day of September
of each year, upon presentation and surrender of the interest couporls attached
hereto, as they severally become due and payable, both �ntere,st._".and principal payable
at the Hanover Nat-jonal Bank,
New York City, New York, or at the Peoples Bank of
Okeechobee, Okeechobee, Florida., at the option of the holder.
This bond is one of -a series of Fifty-11"ive, aggregating Fifty-five Thousand
($55,000-00) Dollars, of like tenor, except as to its nfamber and date of mat�uxity,
and -is issued by virtue and In pursuance of Chapter 11855, Laws of Florida, Acts
of 1927, and of resolution of the City Council of said City, regularly passes and
approved A- -ich this is one was issued
pril 5th, A. D. 1928. The series of bonds o f vdi
for -the purpose of funding and retiring certain obligations of the City of Okeecho-
ibee., Florida, falling due within ninety Ays from the date hereof, Vaich obligations
.-were duly and legally executed and delivered, and for which the full faith and
credit of said City is pledged.
It is bereby certified that the issue of bonds, of which this is one, is within
every debt and other limitation prescribed by the Constitution and Laws of the
u -u aTje oi r.LoricLa. ana is maae in sTricl conlormlty With the Constitution and Laws
of Said State, and of tesolution of the City Council of the City of Okeechobee,, Flor-i-
ida., duly authoriziAg the same, and that all proceedings essential to the validity
of these bonds have been performed,, a3ld that every requirement of law relating
to the issuance thereof has been duly complied with.
IN WITNESS WHEREOF the City of Okeechobee, has caused this bond, being dated
the first day of Maxch, A. D. 1928, to be signed by its Mayor, countersigned by the
President of its City Go-uncil, attested by its City Clerk, and its seal to be here-
to affixed, and the coupons hereto affixed to be executed by the fac simile signa,
tures of said officers lithographed on said interest coupont.
Corporate Seal) Mayor.
ATTEST:
City Clerk.
Co"intersigned:
President of the City Co�mc=