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AN ORDINANCE ENTITLED 'SAN ORDINANCE TO PROVIDE FOR
THE ISSUANCE OF FUNDING BONDS TO THE AMOUNT OF FIFTY
THOUSAND DOLLARS BY THE CITY OF- aMARWATERV FLORIDA,
FOR THE' PURPOSE OF PAYING OFF OUT-STANDING xNDEt EDNE3S
OF SAID CITY OF OLEARWATF.R. FLORIDA, AND TO PROVIDE FOR
THE PAY14ENT OF SAID BONDS;PTO PRT!SCRIBE THE PURPOSE FOR
WHICH THE MONEY ARISING FROM THE SALE OF OF SAID BONDS
SHALL BE EXPENDED, AND TO PROVIDE FOR THE GALLING AND
f
'. HOLDING OF'AN ELECTION TO AUTHORIZE THE ISSUANCE OF
MID BONDS.'
WHERr..AB, The City of Clearwater, Florida, has
certain out-standing indebtedness in the amount of
approximately $58,392.43, which said indebtedness is
represented partly by certificates of indebtedness,
bearing interest at the rate of six per cent per annum,
and partly as a floating debt, and is comprised of the
following amounts, to-wit:
Sanitary sewers and storm sewers, about $120893.11
Cost of City's part of paving assessmentuagainst '
1 water-works property on Ft, Harrison Avenue;
against jail property on Garden Avenue, and for
widdning of Cleveland Street, about, 2,411e67
Purchase-.price of Library lot, 30500.00
Harbor Oaks Improvemont contract, about, 16,265198
Pier improvement, about, 1,453.67 :.
leffords Street improvement, about, 336000
Hospital, about, 2100000
Water front park, about, 43,032.00
~• ''? Fire Truck, 90000,00
Fire Hose, 2j50004.
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Fire-Station, 2,900400 .
Water-Works, abouts 2,Q00•,00`
' st4.'i - •- 'J, : : t..1 . ...'fix fi?'
"b` ..u.Jt„b:y`.. ?f."-vA '`17'• .,,.;, "° AND WHEREASq Said indebtedness is now bibi . .
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is a',:-?1k?+rr ';{ti 1.,,,?•.,??'_y °,Rg::°.'r r, ng
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discharged by direct taxation, a levy of nine and one"
half malls having been made for the currant yoar by the
City Council with a view to liquidating said indebtedness
in a period of five years; ands
WHEREAS,, The City Council deems it necessary,
expedient and to the best interest of said City of
Cleaxnvaters in order to pay off and discharge the
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outstanding indebtedness above describbdi after applying s
the amount that may be tealized from the levy for the
currant year to said indebtedness8 to borrow the sum of i
Fifty Thousand Dollars, ($5os000,00)s to be used and
expended in iiitnding the indebtedness aforesaid* and to
issue Eive per cents thirty:tyear bonds of said City of
Clearwater to secure such sum;
THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF
THE CITY 'OF CLFARWATERs FLORIDA*
Section 1. Mat the City Council of the City of
Clearwater, Floridas be and it is hereby authorized
to borrow the stem of Fifty Thousand ($500000.00) Dollars
to be used and expended in paying off and discharging
the following described outstanding indebtedness of said i
City of Clearwater, which said indebtedness is represented '
partly by certificates of indebtedness and partly as a
floating debts to-.wit: i
Sanitary Sewers and storm sewers, about$ $121893111.
Cost of Cityts part of paving assessments
against water-works property on Ft. Harrison
Avenue; against jail property on Garden Avenue, 1
and for widening of Cleveland Streets about, 2s411*67
Purchase price of Library Lot, 3$00.00
Harbor Oaks improvement Contracts about, 26,265.98
Pier improvements about, 18453.67 ?
Jeffords,Street Improvement, about, 336.00
Hospitals about, 2,000.00.
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Water Front Parka about: 4,$032.00 !
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Fire Trucks '9PO00.00
Fire Hosea 2,500y'QOo
Fire-Station 2y000,00
Water-Workap about] 2,000,00
And is the issue of bonds as herein provided i
shall be approved by the affirmative vote of a
majority of the qualified electors at the election
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to be held as hereinafter provided$, that the said sum
of Fity Thousand Dollars shall be borrowed upon the
terms and for the period of time hereinafter stated ?
and that bonds shall be issued therefor to be dated `
the first day of Aprils A. D, 1916: and said bonds shall
be numbered consecutively* beginning with number one and
ending with number One hundred; and the said City Council
is hereby authorized to pay interest on the amount so :
borrowed as aforesaid at the rate of five per cent per
April and the first day .of '
ann=,v payable-: sethi4an=kl?ycnn•btho :$iLvi3tc'dC.y ol!/October
each and every year thereafter for the full period for
which daid bonds shall run from the first day of April
A. D. 1916• 41
Section 2, That to secure the payment of the said i
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sum to be borrowed as aforesaid, the City Council shall
7, issue one hundred negotiable coupon bonds of the said
City of Clearviater: of the denomination of five hundred
a dollars each; said bonds shall be payable in gold coin
of the United States of America of currant wdight and
fineness and shall be payable at such place or places as,
may be designated in said bonds, to each of said bonds
shall be attached interest coupons of such number and
t semi-annuals
amount as shall be necessary o pay interest y oil the principal sum of each v$ said bonds at the rate '
of five per aent per ann= until the prinoipal of said
'bonds shall become due; and the said bonds shall be
and ending with number one hundred (100)= the interest
coupon attached to said bonds shall, when due, be
receivable by the City of Clearwater, Florida, for
taxes or indobtednoss due the said City of Clearwater
of every kind whatsoever.
Section 3, The bonds to be issued as herein
provided shall become due and payable on the first day
of April, A. D, 1946.
Section 4. The form of said bonds not in conflict.
with this ordinance shall be approved by the City Council
and each of said bonds shall be sealed with thei,seal of
t said City of Clearwater and signed by the Mayor, countorm.
signed by the President of the City Council and atteshed
by the City Clerk. The interest coupons attached to dead
bonds shall have engraved or lithographed thereon the
signatures of the said Mayor, President of the City
Council and City Clerk.
Section 5. When said bonds shall have been issued.
as herein provided, the City Council is hereby authorized
. to sell said bonds at either public or private sale
' for the best price obtainable therefor and the proceeds
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arising fron the sale of sated bonds shall be deposited
with the bonds trustees of said City and shall be used
only for the purposo herein expressed.
Section 6.+ ghat a special tax be assessed, levied
and a•ollected each year during the life of said bonds
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upon all property subject to taxation within the limits
of the said City of Clearwater for the payment of the
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interest upon',the bonds, and that/further tax of such
amount as to the City Council shall seem proper and
necessary, shall be assessed, levied and collected upon
all the property in to&d City of Clearwater subject to g ,''r . ' •' , ..
taxation, for the purpose of providing a sinking fund .?:.
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for the payment of said bonds at their maturity; the
arid bin1ting fund so arising shall be used solely and
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exclusively for the purpose of paying and redeeming
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said bonds when the same shall becor*o due and payable* j
Section 70 That a special election is hereby
called to be held under the laws'and ordinances of the
= City of Clearwater, to be held on Tuesday, the seventh
day of March$ A. D. 1916, to be participated in only
by the qualified electors of the said City of Clear.
water who oven real estate therein, to determine whether.
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or not the City Council shall be authorized to issue
the bondi as herein provided, at which election the
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J question as to whether funding bonds to the amount of
fifty thousand dollars shall be issued and sold by the
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' said City of Clearwater shall be submitted to t
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electors of said City of Clearwater, possessing the
qualifications hereinbef'ore mentioned. The said
election shall be conducted in accordance with the 1
ordinance and laws of said City of Clearwater providing
for the holding of elections; that thebe shall, be provided
: for use at said election, ballots substantially in the
following form: 1
OFFICIAL BALLOT
' OF THE CITY OF CLEAMATER FLORIDA BEVEM DA OF
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l' `` 5 MARCH, A. D, 19160
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• Special bond election of the city of Clearwater,Florida
`iMdk9 a cross-mark (X) before proposition in
favor of issuing bonds if you favor the same; make a ?
arose-mark (X) before proposition against issuing bonds
if you oppose the same. {
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issuing and sale of fund
ing bonds to the amount
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? of fifty thousand dollars, ($50
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For issuing and sale of funding bonds to the
amount of fifty thousand dollarsr ($50#000,00).
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SECTION to
That the City Clary of said City of Clearwaters.
as Registration Officer$ shall duly open the registration
boolts of said City for the purpose of all(ming those
persons qumlified as electors as herein provided. to
register.
Seation 9. That the polling place at which the
voters at said election shall cast their ballots shall
be in the City Hall of said City of Clearwater„
SECTION 10r That all ordinances or parts of
ordinances on conflict with this ordinance are hereby
repealed.
Passed by the City Council of the City of Clear"
water Florida: this the 12th day of Tanuaryp A. D, 1916,
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ATT EST
R T. Daniel B. M. Caruthers
City Clerks President o City Council,
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(SUL) (PROTEH)
APPROVED by me this, tlatb;,Ze?'•'of ,;T??' Ate. '; ??-6• ,
J. R Thomas
Acting Mayor of the UKEY of Clearwater, I