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1930-04 Setting 6% int. on water and paving bondsRESOLUTION # 35 �__Mnkax -the lntiB' rest on�- Street ftying Bonds of the City of Okeechobee, Florida; date.4 4011 1 19 2%, izi_the principal sum- of S903,000.00,, iiaturing $8,000.00., Apri1li., qza��,�O_,--600 -4ach'�4,ear­there 4 r,- to a4d including Aprli, 1; 1949' and bearl 00 si:k percent --int6reit,per aii",,'.pAy4b`le" semi-annually on -April Ist and Oct.0ber l'st reGpd6`t1#e1y,j �,,As -,pa6t due andunpaid in the aknouwts of $2,400.00 of interest and $2,,400.00 of interest coupons due October let, 1929.,, 460 W -of )at Ist coupons due April 1. 1929, and $2,400.00 of interest and ZW coupons due Ootobe:� L 1929., aggregating in all coupons past due and�unpaid the sum of `$9,600. 00., and WHEREAS$ thwinterest on Water Works Bonds of the City of Okeechobee, Florida,,�' dated *�rii 'l, 1920, in the principal sum of $40v000-O0,%-wmaturing $4,000.00 on April it - 1940P and 84, 0600,00 'each year thereafter to and including April 1., 1949.,j and bbaring s�x percent interest'per annum.,,payable semi-ainnually on April 1, and October the Ist r' aspectively, is past due and unpaid in the amounts of $1,200.00 of interest coupons due April 1, 1928 and $1,200.00 of interest coupons due October 1, 1929, and $1,200.00 of interest coupons due April 1, 1929, and $1,200.00 of interest coupons due October 1, 1929, -aggregating in all coupons past due and unpaid,the sum of $4,900.00, and. Ak' I &09 �he interest on Sewerage Bonds of the City of Okeechobee, Florida, dated Apr�l 1..,1920, in the -principal sum of 05,000-00, maturing 0500-00 April 1, 1940 and $500.,00 each yewr thereafter., to an including April 1,,, 1949., and bearing .!ix percent per a�num., payable semi-annually on April lst and October lst respectivety-, is,past due and unpaid in the a -mounts 0150-00 Of interest coupons due A�ri:l 1, 1929.,'� and 0150.,00 -of interest coupons due October 1, 1929, and 0150-00 of interest.coupons;* due April 1 1929,, and $150.00 of interest coupons due October 1. 1929., aggregatin 91, in all coupons,, past due and unpaid, the sum of 0600.00, and WHEREAS, the interest on municipal bonds of the City of Okeechobee., Florida., dated Aug�ist 11 1924, in the principal sum Of $150,000-00, maturing $15,000-00 on August 1,, 1944 and $15, 000. 0.0i'."J each yea� thereafter to and including August l,'1953, and bearing six percent interest per annum, payable semi-annually on August lat February lst, respeo'tiVely,is past due and unpai d in the amounts of $4,500.00 Of- interest coupons due Augusti-J., 1929, and $4,500.00 of interest coupons due February 1., 1925., and 04,500-00 of interest coupons due August 1,, 1929, aggre gating in all coupons, past due and unpaid the sum of 013,500-00, and interest coupons in 1i the sum Of $4,500-00 will be due and payable on said bonds February 1, 1530, making a totql aggregate of interest coupons past due and unpaid, and to bedom due�' February 1, 1930, of the sum of $19,000.00, and _N7HEPX6A%--th6 —int-e-r-ei-sit on 't- i on— _X&ter__Woz s x ens Bonds;�of-_thhe City of Okeec#obe'e,� Ir 10 da, -6ated Mateh�j!�, -1925, !Lh the prihoipal'sum. of $110,000.00, maturing $11,000' .00, f ma" a tq,"1-ag&egato of_j�zterest coupopg,,past -UnPai4-:-&nd to-beco" due >01 e ry theC­eum. OtJ16�b AFOOP �and -VHMAS., interest on Water Works Extension Bonds of the City of Okeeo#obee,, sum of $110,000.00, maturing jllp000.',.,Q0p ?�Oridas dated March 1A 1925., In the p;inoipal 45 r&-.. 19 &�d $11,,000,00 each year thereafter, to and including March 1, 1954 and Ve'aring six, ercent interest pernannu;i, payable semi-annually on March let and p z7� Z, September lets respectitely, is past due and unpaid in the amounts of $3000.00 of interest ooupons�oe�september 1, 1928, and $3,300-00 of interest coupons due- March.1, 1929., and 43,300.00 Of interest coupons due September 1,, 1929.,aggregating in all couponss past'fte and unpaids the sum of $9,900.00, and interest coupons il in the sum of $3,300-00 will be due and payable on said bonds March 10 1930, making ij a total aggregate of interest coupons -past due and unpaid to become due March ls 1930, of the sum of $13,000.00, and pal Improvement Bonds of the City of Okeechobee., WHEREABJ the interest on Munici Floridaj, dated February ls 1926, in the p'rincipal sum of �215..000.00., maturing Y,$21,000.00 on February 1, 1946, and$21,000.00 each year thereafter, to and including i�February ls 1954., and $26,000.00, maturing FebTuary 1, 1955, and bearing six percent ,',interest per annum..*payable semi-annually on February let and August lets respectively, il is p -9 s�- t due and unpaid in the amounts of $6s450-00 of interest coupons -due August 1,�,, i; 19-2.9, and $6.,450-00 of interest coupons due February 1, 1929, and $6,450-00 of interest coupons'due August 11 1929, aggregating in all coupons., past due and unpaid ,!the Sum, of $19,350-00, and interest coupons in the -sum of $6,450.00 will be due and ;,payable on said bonds February 1. 1930, making a total aggregate of interest coupons'i ,ppast due and unpaid and to become due February 1, 1930, of the sum of $25s800.00 and�l I M WHEREAS,, the interest on City of Okeechobee Corporate Bonds of the City of Okeechobee, Flaridas dated August 1. 1927, in the principal sum of S50.,000 -00A maturing #10$000.00 August 1, �945., and#10,,000.00 each year thereafter, to and Ino''luding August 1,o' 1949s and bearingsix percent interest pev,annum... payable semi- *=ually on August let and, February lst,� respectively.,, is past due and unpcaid� in'the" - a[mounts of #1,500.06 'Of interest coupons due August -l., 1929,, and 01#500-007of interest coupons due Februa. '12 1929, and 01,500-09, of" interest coupon's due' August j ll 1929s aggregating o'oupons, past dtie and unpaid,, the sum of$4.,500.00., and interest coupons in the sum of Ols500-00 will be due and payable on said bonds February 1,*1930, 'making a total aggregate of interest coupons,past due and unpaid, and to -become due Febru4ry 1, 10,30, of.the sum of $6,000.00, and WHEREAS., the'Likterest on Street Paving Time Warrants of the City 6f,Okeeohobee, Florida,: dated April 1., 1921.. in the principal sum of $43,000.00, maturing 05..000.0( on the f irst day bf - ipril 1923, and $5, 000. 00 each year ther.eaft'er, to and inbluding ADril 1, 1930, and $3,000.00 April 1., 1931, and bearing six percent interest per annum, payable semi -annually -on April let and October let respeotiuely, is past due and unpaid in the amounts of 0540-00 of interest coupons due April 1p 1929x_ $540.00 of interest coupons due October 1,. 1929, and 0540-00 of interest -coupons due April 1, 1929, and $540.00 of interest coupons due October 1, 1929., -aggregating In all coupons past due and unpaid the sum of $20160.00, and the principal of said I.Time Warrantiwhioh was due April 1,, 1928,, in the sum of $5xOO i. 0%00 is past due and i4nptid, and,the princip al of said Time Warrants which wat due April 1 1929,' in the sum Of 65sOOO-OO is past due and unpaid, and the principal of the said Time Warrants will be due April 11 1930, in the sum of $5,000-00., making a toiil of 'Interest and ' — " i vN t % 4 1 ^" " --, 4 A Ir 4 — e, Twr� — — - — 4- , ---A. -1. . - - .- -11 . . _ .- __ i , - __ . I t In all coupons past due and unpala Time Warrants which was due April 1, 1028, in the sum of $5xUUv,-vf, 4npaid, and the principal of.said Time Warrants which wag due ApFil 1P 1929J. in the sum of #5,000.00 is past'due'and unpaid,.'and the principal of the said Time Warrants: will be due April 1, 1930, it the sum of 45,000-00, making a tc�il of,'interest and I! principal on said",'Time Warrants., pa9t due and unpaid, and,�df principal to become due April 1,1930. of $17,160.00, and WHEREAS, the interest\,on Water -Sewerage Time Warrants of the City, of -.,Okeechobee'� Florida a 030,000-00, d ted April 1 1921, in the principal sum of maturing $3,000-001, on the first day of April 1923., and 03,000-00 each year thereafter and including April 10 1932, and bearing seven percent per annum., payable semi-annually.on April lst and October lst reipeotiVely, is past due and unpaid in the amounts of $525.00 of t interest couDons due ADril,l, 1928,, and $525.00 of interest coupons due October 1" 1928, and 0525-OO.Of interest coupons due April 1, 1929, gnd $525-00 of interest coupons due October 1.,-1929,, aggregating in all couponb Y)a,st due and unpaid the sum of $2,100.00, and the prin-cipal of said Time Warrants which was due April 1, 1929 in the sum of VoOOO-00 is past due and -unpaid, and the principal of the said Time Varrant which was due April .1, 1929, in the sum of $3,000-00 is past due an&,'unMigl, and the principal of,said Time Warrants will be due April l.. 1930# in the sum of VaO00.00., making a total of interest and principal on said Time Warrants, past due a�d.unpaid, and of principal to become due April 1., 1930, of $11,100.00,, and '464 6 WHFAMS, the principal of two notes of the City of Okeechobee, Florida, dated March l9s 1924, each in the sum of $2,300-00 respectively being due and payable, 928, in the sum of $2,300 -00i - the first of said notes on the 19th day of March 1 b and the second of said notes maturing and ecoming due and payable on the -19th day of March A. D. 1929s which said notes are past due and owing America LaFrance Fire Engine Co.., Inc.., making a total of principal on said notes past due and unpaid in the aggregate sum� .'of" $4,600.00 :7 WHEREAS, the City Council of the City of Okeechobee, Fl orida, deems it expedient and necessary to issue a sufficient amount of refunding bonds of the City of Okeecho'—' bee., Florida, to.retire the amounts hereinbefore mentioned.now therefore; KEECHOBEEs FLORIDA., BE IT RESOLVED BY THE MAYOR AND CITY COUNCIL OF THE CITY OF 0 Section 1. The Mayor and the City Council of the City of Okeechobee., Florida,,�7 subject to the provisions of Chapter 11855*.Laws of Florida, Acts of 19-27, and of this resolution are hereby�authorized to issue bonds of said City under the seal said corporation in an amount not to exceed $110,000.00 for the purpose of paying and refunding time warrants,, interest coupons and promissory notes of said City hereinbefore set forth as follows: PPTFMTPAT. TOTAL AMOUNT TO NAME DATE OR INTEREST BE REFUNDED Street Paving Bonds April 11 1920 Interest $9s6OO.00 Water1orks Bonds April 1, 1920 Interest $4,goo.ob Sewerage Bonds April 1, 1920 Interest 600.00 Municipal Bonds Aug. 1, 1924 Interest $182000.00 Water JForks Extension Bonds March 1, 1025 Interest 13,200-00 DATE OR INTEREST BE REFUNDED Street Paving Bonds April 1, 1920 Interest 09,600.00 Water Works Bonds April 1, 1920 Interest $4..900.00 Sewerage Bonds April 1, 1920 Interest 600.00 MuA�pjpal Bonds Aug. 1., 1924 Interest $160000.w Water Tforks Extension Bonds March ls 1925 Interest .13,200.00 Municipal Improvement Bonds- February 1-j. 1926 Interest 25,800-00 corporate, Bonds_ Aug. 1, 1927 Interest 61000.00 Street Paving Ti�e Principal & Warrants April 1, 1921' Interest 17,160-00 Water Sewerage Time April 1, 1921 Principal & Warrants Interest 11,100.00 Two notes American taFrance Fire Engine Co.., Inc.. March 19, 1924 Principal 41600.00 Total $110o960.00 all of which said Time Warrants, Interett Coupons and Notes are general obligations of said.City legally authorized and executed for which the credit of said City is pledged; said bonds to be issued and sold for the purpose of obtaining funds neces- Sary with which to retire notes heretofore the bonds described, to become Time Warrants, Interest Coupons and matured or due, and in event there should be a deficit of, $860.00,, being the difference between the maximum amount of bonds hereto authorized 'and the total of the schedule hereinbef ore set forth, to be made up and supplemented with general funds of said 'City. Provided always that the City Council be and it is X111 authorized to exchange bonds herein authorized to be issued and sold for Time Warrants, Interest Coupons or Notes herein authorized to be refunded, but in all cases and instances of exchange with the holders of any such Interest Coupons, Time Warrants or Notes, the City Council must make such exchange on the basis of par for I par, which is to say tbat $500,00 in Interest Coupons, Time Warrants or kot'es hereinbefore provided to be refunded and legal tender of.,the United States. of America must be delivered to said City Council for each bond of the par value of, $500-00 herein authorized.'Provided further that any legal tender of the United States of America paid tp said City by any holders of any such Interest Coupons, Time Warrants or Xotes(in'sdch cases where the par value of the bond delivered is more than the aggregate of such Interest Coupons, Time Warrants and Notes delivered to the City in exchange therefor) shall be allocated to a fund to be used exclusivelry -for the purpose of paying to other holders of any such Interest Coupons, Time War- rants or Notes in those cases where the aggregate of any such Interest'Coupons, Time Warrant's or Notes shall be greater than the. -par value of any bonds herqin authorized, and the City Council of the City of Okeechobee, Florida, is authorized and empowered to supplement said funds so allocated with general funds of said City in such amounts as may from time to time be necessary in order that such ex- change may be made. Sa.id bonds to be signed by the Uayor, countersigned 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 facsimile signatures there6b lithographed on said interest coupons. The amount of said bondsehall not exceed One Hundred Ten Thousand ($110,000.00) Dollars. Section 2. That the bonds issued under the provisions of this resolution and shall bear change may be made. Said bonds to be'signed by the Layor,, countersigned by the President of the City Council of said City, and attested by the Clexk of said City,.with the seal V A, 'thereof.affixed, with interest coupons attached, signed in like manner, and with the facsimile signatures. there6b� lithographed on said interest coupons. The amount o f said bondsshall*not exceed One Hundred Ten Thousand ($110,000.00) Dollars. 3 Section 2. That the bonds issued under the provisions of this resolution shall be in denominatioAs,ok Five Hundred ($500-00) 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 Irving Trust Company, New York City, New York,' and to be dated April 1, A. D. 1930, interest payable on the first day of April, and on the first day of October of each and every year after date of issuance until maturity of said bonds. The principal of said bonds shall payable as follows: Bonds from 1 to 7 both inclusive shall be payable April 1., 1933.-. Bonds from 8 to 14 both inciusive shall be payable April 1, 1934. Bonds from 15 to 21 both inclusive shall be payable April 1, 1935 - Bonds from 22 to 2�, both inclusive shall be payable April 1, 1936. Bonds from 30 to 37,both inclusive shall be payable April 1, 1937. Bonds from 38 to 45 both inclusive shall be payable April 1, 1938. Bonds from 46 to 54 both inclusive shall be payable April 1, 1939. Bonds from 55 to 63 both inclusive shall be payable April 11 1940. Bonds from 64 to 72 both inclusive s74all be payable April 1, 1941. Bonds from 73 to 84 both inclusive shall be payable April 1, 1942. Bonds from 85 to 96 both inclusive shall be payable April 1, 1943. Bonds from 97 to 109 both inclusive shall be navable Anril 1. lq44. I L 313 Bonds from 109 to 124 both inclusive shall be payable April 11 1945. Bonds from 125 to 140 both inclusive shall be payable April 1,, 1946. Bonds from 141 to 158 both inclusive shall Ve payable April 10 1947. Bonds from 159 to 176 both inclusive shall be payable April 1., 194se Bonds froj077 to 198 both inclusive s#aI1 be payable April 1, 1949. Bonds from 199 to 220 both inclusive shall be payable April 11 1950. Section 3. That said bonds be printed in substantially -the following form.