1945-10-01 Regular Oh~an 8t&1~e Poe, cl. Dept. Council Expense ...... $ q..08
S a .ohw. Sro.. : WaTer .ad e zee & Sanita F:::::: .SO
Upo~ metres b7 Councilman WiJ. Liams, seconded b70ouno~:B;_ :W~/~ Ttmmaa~aad
Seo~lWtll~J~ oZ~i~he Okeeohob~e 0_13mmbe~ (~£ Comme:roe a;ppea..---~d befo~'e the OounoiX
and present~l & lltla~ am an oullinl £or a program the Chamber of ~ommeroe is going to
sponsor for ~e ~etterment ~nd development of this ooumani~y. Mr, Oonra~h ~ASO gave
a very interSs~ing and .I,o~t, oaX ta~k on this .ubJe~t.
Upoi motion the ~oun~iA adJourne~
October 1, 19%5
Th~ City Council of the City of Okeechobee, me~ in reguiam session at
Ci~y Hail a~ :?:O0 P. M. on the above date with ~he follo~ prea~: Mayor H. H.
~eraon, P~esiden~ H~ 0h~er, Oo~ci~en B. W. T~om~, Morise ~omms, AI~o
~d Z. X. WiAli~s, T. N. Oohely, Jr., Oi%y A~torney ~d Lores& Pe~ce, 0i~y
Miautes of the meeting held Sep~em~r 10, 19%5 ~re re~ a~ approved ~ re~.
The follo~ng bills ~re ~proved ~d ordered p~d when f~d ~e
Ai~ Wa~ford - Fire, 8~r~et, Police, P~ks & Wa~er- - $ 93.65
~r Ezell - .RepUting Sing~ Li~ ........ ~.O0
D. L. Mobley ~ Frei~t ................
0i~y ~ F~. Pierce Choices for ~er dept. ....... Zll. 08
Ok~cho~e Ne~ - Oo~il Expense ............ ~.50
~erson ~pt. S~ore - Fire ~ Wa~er D~t. - ........ 3.~1
Gi~ 0~bre~h - Water & P~ks D~t. .......... 1~.7~
Pa~Bemch T~ewriter ~., - Clerks' S~pliea ......... - - 5-70
Pm~ Dr~ Oo~y - Fi~ Dept. ..............
Mien ~age - Water Dept. .............. la.
A~io Set,ce S~ation - Fire ~d S~. & S~itar D t. .....
Ok~ho~ee Hd~. A F~n ~o. - Wazer, Fire, S~. & S~it~y and Police ~5.90
~i~ida Po~r and LXght no. _ Serviee for Sept. ......... -- Z~.33
a~aves ~rocery. - Water D~t. - ............. 1.
~T~er Prod~e 0o. - Fire Hose Nozzel ........... 16.~6
Fslic FIA'e Hose Oomp~ - Fire Hose ............... 6 0.~
Or~e Oo~F - Water l~rovemen~ ~d ........ ~6,86
The Chapm~ V~ve Mfg. 0o. - Water Improv~ent ~'~d ........ 1i0.~
Fr~,J. Smith Electric 0o. - Water I~rovemen~ F~d ........ 138. OO
*. I. W~a~r~h ~p~ied for a pe~i~ ~o move he,es Xn ~he C~t7 o~ Oke~nobee.
Upon motion kY Oo~oi~ Willies, seconded bY Oo~oi~ Wa~ford ~d carries ~he
gr~ed ~he above n~ed person a pe~it.
m~
P~S ac notice, ~ motion by Oo~il/Watford, seceded by Oo~oi~'
Thomas ~ c~rried ~o recess ~ a Oo~oil ~d sit as a Bo~d. of Eq~izers for ~he p~-
pose of ~e~g 1~ T~ ~11 ~d to he~ ~y complines a~ns~ the T~ ~11.
is hereb7 ~iven ~hat the City Council 'of the
No ce . '
~£ 0k~echob~ Florida, will mee~ in ~he Council 0h~mber a~ ~he
~ 1~ 8;~. M' 0o~6ber 1, 19~5, for ~ne p~ose o~ revising
eq~izin~ t~ 0i~y T~ Assessmen~ ~il for the 7e~ of 19~,
pr~ared b7 ~e City T~ Assessor.
A~d ~L PE~ONB havin~ ~y objections ~o ~he
pl~e~ on ~h~r pmopmrty by ~ne Ol~y T~ Asses~r, ~: ~o~ bY
~sessmmnt ~1, ~e hereb7 notifies to fiie ~heir objections ~h the
Oi~y Oink ~8 ,~pea= in p~rson ~fore ~he 0i~y Oo~il at s~d ~-
in~ on ~e a~res~d date.
H~ Oh~er
Presi~a~ Oity
A~tes~: Lor~a Ps=ce
Cit~OAerk of the City of Ok~Uobee, Flori~
~ 0~0~0~
P~lis~ We~iY in Oke~obee
Okeecn~ee 0o~y, ~orida
8~ATE OF ~O~DA
CO~Y OF OXEEOHOB~:
Before ~he ~dersl~ed a~horl~y__person~ly ~~ed BRY~T ~~ ~o on oath says
taat he l~ ~tor of t~ Okeechobee,se~, a ~ly newsier p~lish~ a~. Okeecho~e in
?~eeomob, e Oo~tF ~or~; that_the stashed o~y of
xn the ma~er of t~e ~ City Co,oil' in the ~e~isement, ~ing
ne~paper in the lasts of Sep~em~r 14, 21 ~d ~, 1~5. Oo~, ~s p~li~ed
ffl~ f~ther sa~that the s~d O~EOHO~ NE~ is a ne~paper p~lished a~ Oke~
.c~o~e, in said Okeeono~e Oo~ty, Flo=i~' e~h week ~d h~ been entered ~ second
clue m~l matter m~ ~h~ ~o~ Offi~e of Okeechobee, in s~d 0o~, Flori~,
pe~i~ of one Ye~ preceding ~he fXrs~ p~iioation of the attuned c~y of ~vertisemen~
~d aIfi~t f~ez say~ ~hat he h~ neither paid nor Promised ~y person,
p~.ra~ion ~y ~soo~, ~bm~e, co~ission or ~f~d for the p~ose of s~ing this
~vertismen~ for p~lic~tion in s~d ne~p~er.
8i~ed Bry~ ~n
S~ t° ~ s~rXb~ $o before me this .... ~ of . ... &. D. 1945.
BY
The Oily. T~ Ssse'sSor presented the Ol~y T~ ~sessment ~11 for the ye~ of
19~ to the Oi~y Oc~ci~ for zeeXew ~d eq~i~ion..
THe fo!lo~ng~ersons ~pe~ed befo~ the Co--il ~d req~s~ed
on' cer~n pr~er~les:~ i~X. E. S~eilo ~d T. T. Oolem~. ~er ~vi~ t~e
~ide~lon the Co,cSX de~d s~.
Bo~ proceeded ~o e~ne ~ne' T~ ~1 for the 7e~ of
~on mo~lon b~ 0o~Oil Willies se0onded by Oo~oi~ M. ~omas
~o ~oep~ the T~ ~ll ~d re~n to Oity T= Assessor for oompiet~9~.
There~on the Bo~d ~Jo~d ~d reoonvened as a 01~y Oo~xl.
~on motion b~ Oo~oi~ Warlord ~d seoonde~ by Oo~i~ Wil~s
o~ied, ~o r~e ~he ~r~ Pa~ng ~ 8e~ Liens Wo ~. The Co,oil authorized
~he Oily T~ Ooa~otor ~ perai~ p~en~ of 8~e~ Paving ~d Se~= Lie~ .on-basis of
~ of prinoip~ ~~ 9f s~d Lien ~wil ~na ino~dlng Deoem~r 3A, 19%~. Ail hiens
ou~e~ng J~y i, ~6 to ~ s~tisfied as ~.he Oo~oil sh~· dete~ine a~ Oity
01erk be m~horized ~o ~ve due notice of such offer by p~ii~i~ s~e In Okeecnobee
Ne~, pos~i~ ~d other~.
Oo~x~ Wi~l~s pre--ed the follo~ng Or~n~e ~d ~
~ .~ in f~ for ~ ~lme. ~ aO%~ ~i~ d~y second ~he Ore--ce
first time in full. The said 0rdinaace remained on first reading until aonday, 0ctob~
ORDINAN01 NO.
AN 0~ DINANCE OF THE 0ITY 00UNCIL OF THE CITY OF 0KEECHOBEE, FLORIDA,
~.EVY] ~G, ESTABLISHING, A~D IMP..0SIN~ A ~ADUATED TAX ON PUROHASES OF
ELE0~ 8/CITY, BOTTLED GAS, AND LOOAL TE,.EPHON~ ~ER¥IOE; PROFA~X~G FOR
P~NAI ~IES FOR THE VIOLATION OF THIS ORDINANCE A~D ~EA~ING
0RDI] kNOES AND PARTS OF ORDINANCES INSOFAR A8 THE SAME ARE: 00NFLICTING
HERE! ~TH.
BE IT ORDAINED BY THE ~ITY 00UNOIL OF THE 0ITY OF 0KEEOHOBEE,
FLoR~DA, AS FOLL0~
8EOTION 1: There is hereby levied by ~he City of 0keechobee
in 0~echobee Oounty, Florida, on each and every purchase in said City
of e~ctrioity, bottled ~ (natural or manufacture~), and local ~ele-
phone service, a tax based upon the charge m~de by ~he seiler thereof,
10~ on the first
~ on ~he next $~0.00 or fraction thereof
.. l~ on the balance of a£1 charades over $?~.~0 in amoun%,
which: tax shall, in every case, be pa~d by the purcha~e~, for the useof
said 13ity, to the seller of such: eieotricity, gas or telephone service
al thl time of paying the charge therefor to the selle~ thereof, but not
less eften than monthly.
SEOTIO]I ~: X~ shall be ~he du~y of every seller of electricity,
bottlgd gas (natural or manufa0tured) or local ~elephone service, to oolleo~
from the purchaser, for the use of said City, the tax hereby levied at ~he
of coliectin~ ~he se£-in~ price charged for each transaction, mud to report and
pay o~er, on or before the fifteenth day of e~oh c~lendar month, unto the
Clerk of s~id City, all such taxes levied end ool£ected durin~ the preoeiing
ca.~enia= month. It shall be unlawful for any seller to collect the price of
any p~rohmae of electricity, bo%tled gas (natural or man~aotured), or tele-
phone service, without at the same time collecting the tax hereby' levied in
reepeet to such purchase or puroahses, unless such seller shall elect to
assun% .and pay such tax without collecting the same from the purchaser. Any
seller fmi£ing to ~lleot such ~ax at the time of coiieo~ing the price of any
sale, where the se£~er has not elected to assume and pay such tax, sh~tl be
liable to said City for the amount of such tax in Aihe manner as if the same
had ~n actually paid to the seller, and the Mayor ok enid Oi~y shall
to bo brought, all suite and ~otions and to %ake ail proceedings in the name
of ~ 0ity as may be necessary for ~he recovery of such tax; PROVIDED, HONEVER,
that ~he seller shall not be liable for ~he paymon~ of such ~ax upon un-
colle~ed biil~; If any purchaser shall fail, neglect, o~. refuse to pay to
the s~£er, the seller's said charge, and the ~ax hereby imposed and as hereby
requtx~d, on the ascount of the purchase for which such ~harge is made, or
either, the seller shall have and is hereby Vested with the right, power, and
autho~ty ~o immediately disoontin~ further service ~o such purchaser until
~ne tam aaa ~he se~-,er's bi*& sha~ have been paid in ~u~l.
SE~TION 3: E~h ~ every seller of electzici~y, bo~lod
(n~mi or ~~t~ed), ~d ~c~ tei~hone service ~1
plebe reoor~ snowing ~1 s~e~ in s~d 01~7 of s~h oo~o~tios o~
vice, which Seoords ~ show the price o~d ~on e~h s~e, the
da~e thereof, a~ the date of p~ent there~, ~d
be k~t ~en fo~ in~eotion by the d~y a'~rized ~nts of s~d Oity
d~ing b~in4ss ho~s oh ~1 b~i~ss d~$, ~d
of said Oi~y~l ~ve the ri~t, po~r ~ ~utho~ity ~o
oripts thereof d~i~ ~ times ~ they may ~sire.
8E~ION ~. ~e united 5tate~ of ~erio~, Sta~e of Flori~,
~d po~itio~ a~divisiona ~d ~enoles the~of ~e her~ exerted from
pa~en~ of t~e ~es by this or~na~e.. Said ~ sh~l no~ a~ly ~o ~ong
dis~ texe~o~ aspics, or ~o coin box teA~ho~s.
~I0~' ~ In ~1 oa~s ~ere the seAAer of eAeo~rioity,
bottled ~s ~at~ or m~~t~ed), o~ loo~ tel~hone service collects
tae price thief a~ monthly periods, the t~ hereby ~evied m~ be oo~
p~ed on ~he ~e~te ~o~t o~ p~haaes d~lng s~h period, pro~ded
tha~ the ~o~ of t~ to be oolAeoted ~1 be
~o ~he ~~ computed.
SE~IOS 6: ~y p~oh~er ~f~y f~ing or ~ef~ing ~o p~
the t~ here~ i~osed, ~ere ~he sealer has not e~ted
pay s~h ~ ~d ~y seller viola~ing the p~visions hereof, or
offioe~, ~e~, or ~loyee~f ~y se~l~ ~oAating the p~o~sions hereof,
~1, ~n ~nvlo~ion, be $~jeot to a fine of not more th~ One H~ed
~ll~s ($XO~OO), or i~riso~t in the Oily J~A for not more th~ ten
(10) ~s, o~ bo~h s~h fine ~d impriao~en~ for e~h ~d evezy vioAation,
in the ion of ~he J~e of the m~oip~ oo~.
S TION 7= In the e~n~ ~7 seo~ie~, p~~h, sentence,
Ola~e, or p~ion of this o~~oe ~1, for ~y rein
oon~l~lon~, inv~id or ineffective, the
or in ~y ~ ~f~t ~y othe2 s~tion, p~~h, s~te~e or potion
of ~
S~IO~ ~: ~1 or~c~ ~d p~s of
~ t~e s~e ~e in con~lic~ h~e~h en~l ~ ~d the ~e
ps.ed.
~TION ~= ~on i~ p~sa~, this or~n~c~ sn~l booomo
effective ~d ~pAloab~e to bXA~s rendered on or ~ter ~tober ~, 1~.
P~ in re~ ~eeeion on aeoo~ ~d fi~ re~ing on ~his
the ~ ~ of ~ 1~.
A~toa~: ~ez : Presiden~ of Oit70o~ol[
....... ~y ~l~k ~.,~
........
The~gity .Clerk was instruo%e~ by the 01fy Council to publish a notice in the
0heechobee Ne~ that said ordinance w~s to be given final consideration October 5, 19~.
Cotu~o£1m~u W~tford presented the following 0rdin~noe and mo~d i~s ~p~ion
~on bein~ d~y s~ond~ ~ .~pted~
~ O~IN~E AUTH0~ZING THE ~YOK AND T~ CITY ~0~0IL OF THE
OF 0~ ;0~, 0K~OH0~ 00~TY, F~DA, T0 I88~ ~D SELL I~'E~
~NG ~ l~8 ~K THE P~OSE OF ~~N~ ~D I~~NG THE WAT~
S~T~ 0]' S~D OITY ~ PORVIDING THE ~O~T OF T~ WA~8 TO BE 80
X~ ~_SO~ T~ ~TE OF I~E~T ~ ~ ~~THE TI~ O~ TI~
~~ OR P~0~ ~ '~D ~E~ P~NO~ ~D INTE~ST 8~ BE ~Y~
~ ~ ~T~I P~C~p~ '~SD ~TE~I ~ THE ~ SH~L S~0~ D~
~Ea ~VX~Na FOa T~ ~ ~SD C0~~O~ or · T~ ~0~ ~h ~E T~=
P~PE~Y X~ TaE 0~V 0r ~CH~ S~O~T T0 ~ T~ ~~i~ ~D
T~T 0~ S~XD T~ W~~S ~ THE E~ THE W~T~ ~~ ~S
TO PAY ~; ~VXU~S~ ~ DmOS~T~aY F0a S~D T~ W~TS ~D P~0~ T~
F~a; PO~DIN~ AND P~C~BIN~ ~ F0~ IN ~I~ T~ SA~D T~ W~~S
8~LL BE I8~, ~ P~DING FO~ T~ ~A~E OF SAID T I~
~~, T~I8 ~0IL, ~DER T~ P~SION8 0F 0~IN~OE NO.
PAS~D A~D A~TED ~R~ ~, 19~, I~D 0ITY T~ WAISTS IN THE ~0~ OF
$~,~0 ~R ~E P~0~E OF M~I-NG ~T ~AI~ TO THE WATER SYST~ OF 8~D
CITY IN 0~ER T~T PROP~ WATEa FAOILITI~ 00U~ ~ GI~ TO THE 0ONS~
~~8, THIS 00~OIL ~UW FIN~ T~T ~ ADDITION~ 8~:~ $1a,~ I8
NEOE~A~ TO ~~TE T~ N~DED ~A~ TO 8AID WAT~ 8YST~, ~D
~~8, ~I8 OO~0IL HAS B~ ~SED BY A 0~~T EN~IN~R THAT
L~ 8U0~ ~~ ~ 00~L~ED, ~E SAID WAT~ 8YST~ WI~ NOT BE IN
~AIR AS WAS FI~T 00~~TED, ~D IT I8 HILLY P~B~ T~T THE OITY OF
0F OK~O~BEE ~LL BE ~A~ T0 F~I~ ~UIT~ ~TEB T0 ITS. ~N8~, ~W,
T~FO~
B~ IR 0~AINED BY THE ~YOR ~D OlTY 00~0IL OF THE 0ITY OF 0K~0B~,
OK~0HOB~ 00~Y, F~DAI
8~tion 1. Th~ ~yor ~d the Olty 0o~oil of the 01~y of Ok~eoho~e,
F~ri~, e~jeot ~o ~h~ provisions of ~ctiou %~ of 0~p~er 8]18, Laws' of
Flori~, ~a of 1919, aa ~n~d ~ 0h~ter 1~66, Laws of Florl~, ~ of
19a5, ~ ~his 0rdi~ce, ~ hereby authorized ~o iss~
Tim~ W~ts of s~d Olty ~der the se~ of s~d 0ity in ~he s~ of T~I~
Tho~d ~ll~s ($1a,~O) for the p~ose of m~ing i~e~a~e r~rs
~he ~t~r~ sys~m of ~he Ol~y of Oke~cho~, Flori~. Said Time W~ts
be si~d~ by the M~yor, oo~rsi~ed by the Preaident of the Oity 0o~il,
~otl~ 2. The Time garrets iss~d ~r the provisions of'~nis
Or~n~ce sh~ be in denominations of One Tho~ ~ll~a ($1,00O) e~h
~d sh~l be~ lnters~ payable semi-~~ly at ~he ra~e of ~ per cent~
per ~~ both prinoip~ ~d in~eres~ payable a~ Ohee~ obee Oo~y B~,
Okeeohob~%, Flori~- S~d Time W~r~s ~o be dated Novem~r i, A. D. 1~;
in~eres~ p~able on the l~ day of November ~d ~he Asr day of ~y of e~h
~d every ye~ ~ter date of issue ~il ma~i~y of s~d Time
The principal of i. said Time Wamrants aha~l be payable as. follows: Two Thousand
Dollars ($2,000)~n the ist day of November, A. D. 194~; and Two Thousan~ ·
Dollars ($2,000)~on the 1st day of November of each and every yea~ thereafter
up ~ and inol~ng tho ANt day of November, A. D. 195~. 8aid Time Warrants
to be numbered f~m one to twelve inolus~ve, and to be payable in the follow-
in~ order~
Time Wsxr~s 1 and 2 payable November 1, A. D. 19~..
Time Warr~s 3 and % p&y~bie November l, A. D.
Time Warr~s 5 and 6 payable November l, A. D.
Warrm~s ? and 8 payable November -, A. D.
Time
Ti,e Waxra~s 9 and 10 p~yable Nors,bet l, A. D.
Time W.arr~s 11 and 12 payable November 1, A. D.
Section 3. : 0keechobee 0ounty Bank, Okeechobee, Fiori~a,l.being a banking
corporation org~zed and existing under The laws of the State of Florida,
snell receive and be custodian of the Time Wemrants authorized by This Ordinance,
and of ~il monie~ arising from the sale thereof.
Section 4. ! The 0ity Council snail require all repairs to said w~ter
system To be mad~ by a compeTenT con~raotor and all of said ~ork a~ail be
approved by a re~esentive of the 0ity before payment is made 6~r said work.
All payments for !~rk and materials shall be paid by cheek on the Bank, above
named, after sai~ accounts have beau audited and approved bl~ the 0iTy 0ouncil.
Section 5-~: In ~he event there is remaining in the depository an un-
exPended balance ==om ~he sa-e of said Time Warrants issued under the pro-
visions of this ~dinanee, ~ter all work has beau completed, the 0ity 0ouncil
shall deposit sat~ funds in an interes~ and sinking fund to apply on The
paymen~ of the p~ncipal and interes~ as directed by resolution by the 0ity
0ounoil.
Section 6.i It shaXl be the du~y of the City 0ounoil to allocate, from
the water revenUe, a sum sufficient To m~o~ the amount annually required To be ~:'~...:~
raised to pay interest, and create a sinking fund to pay the principal of the
Time Warrants prOWlded for herein. In The even~ the water revenue is not
su~fioien-~, in ar~ year, to mee~ said amounts annually required, then i~ shall
be the duty of th~ Ol~y Oounoii tp levy annually & tax upon the ta.x~bie pro-
per~y, in said 01~, a san sufficient to meet the amount annua-ly required as
aforesaid. And ~SUOh tax, if levied, shall be levied and collected at the
8eotion ~ The Time Warrants authort~'-ed to be i~s~d undsr the pro-
visions of this ~Atnanoe shall be in substantially the following form~
UNITED STATES OF AHEHIOA
STATE OF FLORIDA
pO0~NTY OF OKEEOHO~
' OITY OF OK~OHO~E
WATER I~RO~~ TI~ W~T
IBSUE OF ~~EH l, 1~
No,
The .Oi~y of Ok~eoho~e~ for v~ reoeiv~ hereb~ promises
~o p~ ~o %he b~e= ~he s~ of On~ Tho~ Doil~s (~1,000), ~o~
Novem~r, 19 , ~h inheres= ~ ~he =~e of ~ ps= oen~ p~r
M~ of e~h ye~, bo~ prinoip~ ~d in%eres~ p~le ~v Ok~eono~
This ~e W~r~t ia o~ of a series of ~ivm a~ga~ing
T~i~ Tho~ ~ll~s ($1~,~), e~ ~ ~o its n~ber ~d
of m~i~y, ~d is issued b~ vir~ ~ in p~s~oe of S~tion
of Ch~er 8]~, Laws of ~orida, ~s of 1919, ~ ~en~d b~
1~66, Laws of ~ori~, ~ts of 19~, ~d of this Or~n~oe.
~8e ~ m~ing neoess~ r~rs ~o the water system of the Oi~y of
Okeec~bee, Flori~
I~ ~s hereby ossified tn~ the i~s~ of T~me
of wh~h ~nis is one, is ~hin e~ry de~ ~d o~h~ iimi~
scrib~ by ~hm Oon~~ion ~d L~ of ~ne S~a~e of ~rl~ ~
m~e ~ strio~ oonfo~ity wi~h ~he Oona~i~uUion ~d ~wa of the
8~a~e ~f Fiori~ ~d ~he Ordin~oe. of ~he Oity of Okeechobee,
d~y ~tho~izin8 ~he s~e, a~d tha~ ~1 prooee~n~a eas~n~i~ ~o
~he v~i~ty of these Time W~r~ta have been perfo~ed,: ~d tha~ evo~
req~en~ of law rai~in~ to ~he isaacs ~h~reof h~ been
oo~ii~d wi~h.
IN ~TNESS ~E~F, ~he Oity of Okeecho~e, ~orid~ has
oa~e~ ~his Time W~r~t, ~in~ ~te of is~ day of Novem~=,
~o be ~i~ed by the Msyor, oo~tersl~ed by ~he Presiden~ of the
Oily Og~il, attested by the Oily Olerk, and l~s se~ ~o be h~re~o ~ffixed.
May~
0o~ a~s~
Seotion 8. The 0i~70ounoil sha~l have ~me right ~o sell saAd Time
~x~lts a~ pri~o ss~e provided tho ~e ~ro .old for their p~ v~ plus
~o~uod into~o~' at ~ho ~ime o~ s~d 8~e ~d 8~id Time W~~s sh~l h~ve
~1 o~ the at~r~os ~d lnoiden~a of oo~erio~ p~
5~tion 9. (~) That ~1 of s~ Time l~r~ts sh~l bo
~on ~y ~e~ p~ont d~e prio~ to ~at~i~y a~ p~ pl~ ~o~d interest.
(b) That ~ho option to c~l ~y or ~1 of s~d Time
prior ~o m~t~i~ sh~l be exercised In the foilo~ng m~er: The Time
· ~~a ~i~h ~e to be rede~ed small be ~a~ by lot, by ~he Oily Oo~oil
of s~d Oit~, f~ all the Time W~r~ts then o~st~~, ~d ~ioo of
s~h rod~tion ~ooifying the Time W~ts to be rede~ed, ah~l ~ filed
a~ le~ fif~ee~ ~8 prio~ to s~h ~edomption ~te, ~ said Time W~r~ts
~on so o~&ed ~ federation sh~l oease to ~aw lnte~es~ on s~h ~ede~ion
da~e, provided ~t ~eq~e f~ds for their ~odemption ~d p~en~ ~1
(o) ~a~ ~1 o~ s~d Time W~~e ~~od by ~he Oily,
or p~d at mat~y' sh~l be o~oeiled i~e~a~oiy ~on ~heir s~render ~o
tho Oily.
Section 1~ ~ia O~n~ce sh~ t~o effec~ i~e~mtoly ~on
p~s~ ~d ~p~v~ by the a~or.
~ ~ho ~rs~ ~ime ~d by ~imo~ oonsen~ p~se~ ~o a seoo~ ro~ng.
~ a~ so.nd ~me ~d passed to a third ~d fi~.re~ing.
~ a thud ~lme ~d p~s~d in open session of ~e Oily Oo~ii this
-Presiden~ of t~& 0~
(CO.OraTE
~provod by me this is~ d~ of
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. October 8,
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