0085 (Issue Water Bonds)ORDINANQE NO 85
An ord.inance Ptoviding for the „issuance ofbonde ty the Mayor-.
.'and City Council of the City of, 0keechobee, Florida , for the pub-
,. „pose ,of •ex 'ending and expanding the water sy tem of the City s =Qf;,
: Okeechobee,, ; Florida', for furnishing water and fire
erectin;wate work 1 protection, for
' g• e,Y ?�g`° ratsr." main':, purchasini land fo;
emoting theft "same thereon, and for all other necessary , things in
Okeechobee, Florida, Jan.. 20, 11925
The City Council met in regular session at 7.30 o'clock P. M ;.
on the above date and the following were present: T. W. Conely, Jr.,
Mayor, Councilmen J.D. Bird, H. H. Hancock and H. T. Bass with
R. P. Fletcher, Clerk, L. W. Jennings and B. L. Jennings, Jr., City
Bird presided a:t -mee
`Attorneys in attendance.Pres. DeYarman being absent,President- pro -te
Minutes of January 5th, 6th and 8th were read and approved.
Councilman - elect L. F. Scharfschwerdt was present and ithe• oath .
of office was administered to him by L; W. Jennings, City Attorney,
.to serve as member of the City Council of Okeechobee, Florida for
the term beginning January 5th, 1925.
City Engineer Lawrence presented communication from R. M. Mitchuir>
with reference to makthng service connections with the water mains
for the City.
Motion was made by Councilman Hancock, seconded.by Councilman
Bass that,City employ R. M.Mtchum to make service connections
with water mains for City KUK for the sum of $10.00 for each con -
,y nection as per -his written proposal to the Council. Motion passed.
•
Upon''motion duly seconded and carried the bill of The Worrell
anufacturing Comaany was ordered paid.
Lotion was.made by Councilman Bass and duly seconded that City
buy horde from W. P. Albritton for the sum of
90.00.
Motion was made by Councilman Hancock, seconded by Councilman
Scharfschwerdt and carried that City pay bill of Mitchum & Barnes
for extra labor in connecting wa w.er mains, with water tank,
Motion was made by Councilman Scharfschwerdt, seconded by
ouncilman Hancock that City Engineer be authorized to sell surplus,
culverts. Motion passed.
Ordinance No. 85 was proposed. by Councilman Hancock and secon-
ded,by Councilman Bass and the vote on roll call was as follows:
Yeas
J. D. Bird
L. F. Scharfschwerdt
H. H. Hancock
T. Bass =r
ORDINANOE ' NO. 85
Alt, ordinance providing for the issuance of bonds by the Mayor
and C.ityCouneil of the City of Okeechobee, Florida, for the pur-
pose.. of extending and expanding the water system of the City of
Okeechobee, Florida, for furnishing water anc fire protection, for
erecting water works, laying water mains, purchasing land for
erecting the smme thereon, and' for all ,other necessary things in
Nays
None
connection therewith; 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.
Be it ordained by the Mayor and City Council of the City
of Okeechobee, Florida.
•
Section 1. The Mayor and City Council of the City of
Okeechobee, Florida, subject to the provisions of law and this
ordinance are hereby authorized to issue bonds of said City under
the seal of said corporation in the amount and for the purpose as
follows;
One hundred and Ten Thousand Dollars ($110,000.00) for
the extension -and expansion of the water system of the City of
Okeechobee, Florida, for the purpose of furnishing water and fire
protection, for erecting waterworks, laying water mains, purchas -4
ing land for erecting the' same thereon and for all other necessary -
purposes in connection therewith. Said bonds to be bigned by the
Mayor, countersigned by the 2riesident of the City Council and '`
attested by the Clerk of the said City with the seal thereof af-
fixed, with interest coupons attahed, signed in like manner with.
the facsimile signature thereof lithographed on said interest
coupons. The amount of said bon &s shall be One Hundred and Ten
Thousand ($110,000.00) Dollars.
Section 11. The Mayor shall, as soon as practicable
after` the passage and approval of this ordinance issue and publish
for a period of not less than 30 days, in The Okeechobee News, a
newspaper published in the City of Okeechobee, Florida, his proc-
lamation giving notice of a special election to be held on the 24th
day of February, A. D. 1925 at which time will be submitted to the
qualified electors of said City Vile approval or rejection of the
issuance of the bonds provided for in Section 1, of .this ordinance.
Said call shall be published .in five successive issues of said
newspaper immediately prior to date of said election.
Section 111. That the form of the ballot to be used at
said election-shall be in substantially the following form:
OFFICIAL BALLOT.
Municipal Bond Election.
February 24, A. �. 1925.
Cite.of Okeechobee, Florida.
M e a cross mark (X) before the
word °for" or the word "against" according
to your approval or disapproval of the is-
suance of the following bonds:
For the issuance of $110,000.00
in bonds for the purpas e of extending'
and expanding - the water system of,the
City of Okeechobee, Florida.
Against the aissuance of 0.10,000.00
in bonds for the purpose of extending and
expanding the water system of the City of
Okeechobee; Florida.
Section 1V. The Mayor in his proclamation ';calling for
- the 'election ,herein provided shall• -' e three electors of the City
of Okeechobee, Florida,' who shall 'f as, inspectors of said ele tion
,lob,
and gone elector of the City of Okeechobee, Florida, , who shall a
s Clerk of said electibon. Should any ;of the, inspectors or Clerk
as appointed fail or refuse to ,qualify, the, Mayor is authorized, at
t any time , prior ` to the opening of the pods, to 'name additional in-
spectors or Clerk..,, the inspectors conducting the election aforesaid,
shall, immediately after the polls have closed, count the votes for
and against the issuance of bonds as aforesaid and immediately
r certify-;:the result of the ,same to the . City. i Council.
Section`V. At therelection
this ordinance only persons. who are :regi
sunder ,the laws of thee State ,ofFlorida
to be held as provided in
stered and qualified voters
and have paid their poll
ax for, the last two years; "ard have resided within thb 'eorporate
I'imits of the City of, `Okee ehobee for six months priof to said
electidn, and who are bona fide owners'of real estate, (freeholders)
within the limits of said _City, of Okeechobee, and who have paid
,the taxes, State, County and City last due thereon, and actually
voting, shall have a right to vote in said election.
The City Clerk shall, twenty days prior to said election,
open the registration books at the City Hall,.'- and, keep the game open
an each week day, for the registration of electors; an d shall close
the same ten days prior to said election. Said Clerk shall have
full power to administer oaths to all persons applying for registra-
tion.
Section Vi. The 'bonds issued under the provisions of
this Ordinance shall be in denominations of $1,000.00 each and shall
bear interest, payable semi- annuailyat ,the rate of six par pen tum
per annum, both principal and interest payable at the 'Bank of Okee-
chobee, Florida, �r at the ' American Exchange Bank, New York City,
N. Y. at the option of the holder. Said bonds to be dated Larch 1,
• A. D. 1925; interest payable on the First day of Larch and the
First day of February of each and every- year after date of issuaie e
until maturity of said,bonds. The principal of said bends shall ,
be payable as follows; 411, 000.00 on the i irst Day .'of March, L. 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. y.
1954. Said bonds to be numbered from 1 to 110 inclusive, The,_.,
said bonds shall be payable in the following order:
Bonds nu:r;ber 1, 2, 3, 4, 5, 6, 7, 8, 9, 10 and „11.
payable March 1, 1945, A. D.
Bond:, n,imber 12, 13, 14, 15, 16, 17, 18, 19, 20,
21 and 22 payable March 1, A. y. 1946.
Bonds number 23, 24, 25, '26, 27, 28, 29, 30, 31,
32 and 33 payable March 1, A. D. 1947.
Bonds number ,34, 35, 3,6, 37, 38, 39, 40, 41, 42, 43
and 44 payable March 1, 1948.
Bonds number 45, 46, 47, 48, 49, 50; 51, 52, 53, 54
and 55 payable March 1, 1949.
Bonds number 56, 57, 58, 59, 60, 61, 62, 63, 64, 65
and 66 payable Marcy! 1, 1950.
Bonds number 67, 68, 69, 70, 71, 72, 73, 74,-75, 76
and 77 payalbe March 1, 1951.
Bonds number 78, 79, 80, 81, 82, 83, 84, 95, 86, 87
and 88 payable March 1, 1952.
Bonds number 89,. 90, 91, 92, 93, 94, 95, 96, 97, 98
and 99 payable March 1, 1953.,
Bonds rr-rier 100, 101, 102, 103, 104, 105, 106, 107,
108, 109, and''110-payable Larch 1, A. D. 1954.
Section V11. Should the issuance of said bonds be author-
ized by the . required (majority) vote then the said bonds shall be
issued without delay, and the City Council shall, before such issuancs
provide by ordinance or resolution for the redemption of said bonds
at meturity, and for the payments of interest upon the same by a tax
2ety of a sufficient milleage as may be necessary for such purpose.
Section Vill. If the result of said electi )n provided for
in this ordinance shall be against theissucnee of bonds the trig
ordinance shall be null and void.
Section IX. This ordinance 'shall take effect immediately
upon its passa;e'e and approval.
Read a first time and by unanimous consent passed to a
,sec'ond reading.
• Read a second time and b, unanimous vonsent pasted to'-a
third and final reading.
Read a third time an0 passed in open
of the Cit ,3' Council this the 20th dar of Jan
'egular° session
A. D. 1925.
President of t /(4 City Council.
Upon' motion by Councilman Bass, seconded by Councilman Hancock
the Clerk was authorized to draw voucher transferring sufficient
from Water Works Bond Fund # 3
funds to meet the interest on the 1924 bonds due February lst
1925 after using all available funds
1924 Bond Fund . lotion passed.
Upon motion Council adjourned.
in the Interest & Sinking
dent i y Council.
Attest:
Lle .41/AL.4
Gity.C1-rk.
L. 46'