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,AN ORDINANCE TO BE ENT•ITLIM: AN ORDINANCE FOR '1H1; ISSUANCE
t I "i AND SALE-OF BONDS-BY THE CITY OF CLEARWATER, TO PROVIDE FOR ;
THE PAYMEN` OF SAID BONDS AND TO PRESCRIBE THE PURPOSES FOR
WHICH THE MONEY DERIVED FROM THE SALE 'OF SAID BONDS SHALT, BE
EXPENDED
' BE IT ORDAINED BY THE CITY C014MISSION OF THE CITY OF CLEAR- ?
WATER, FLORIDA.
SECTION ONE: The City Commission of the City of
r Clearwater, Florida be, and it is hereby autborized to borrow
the sum of $150000.00 to be used and expended for the following
``?7 t! purposes, to-wit:
For the purchase of a site, machinery, supplies and ,
r _. equipment for s gas plant and installation of the same for the =}
m.anufacrture , sale and distrTbution of artifical gas in the
City of Clearwater Florida...
<'F' ' '' >> That sold sum if approved by an affirmative vote of a ? `: e • ''f'
1 ma Jority of the qualified electors of said City who own real
estate i sold v t i election t , .. in City a ing°n an to be•ha1d, as herein .
7. provided, shall. be borrowed for the term of thirty, years from
the First day of M_L' 1824, and they City Commission Is hereby js-
authorized to pay interest on said .money so borrowed as afore- ?
F;; ! a>ald at they rate of 5 I per annum on the First day of M?
r,
and the First day of Nov. of each yndreve3ry year thereafter for
full period-' of thirty years from the said, first day of b_ aY924.. "
SECTION TWO: To secure the payment of said stun to be k
. ;';.? ?t=`s? E',: • .. 'i+, borrowed as aforesaid the said City'Commission shall lBsue 150 c r.
negotiobley coupon bonds of the .said City of Clearwater in the
denomination -of One Thousand= ($1.,000;00) Dollars' each; each !of r
said bonds shall be:' payable in gold; coin of the United States !
of Arner:Uca of current weight and t`.i,neneso and shall be payable
at the Mechanics and Metals National Bank in the3 City of New
York, Stag of New,-York. To each or said bonds shall be attached t.
interest of such number and t `
o amount as shflll be necessary
to a the interest semi-annually an the s
;s ,P rA y prinodpal etixm• of said
'?,? r:.* ` mtF? ??` L?frt'-' Fl,'ij'7.??°hs t .. t' .. _ •S . .
=µ 4r :bond' at 'the ratio of S _per annum until the principal of sold {.t f
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bonds shall become due, each' of said bonds shall mature 'thirty.
ydars from the First day of Mar 1924,' Lhe Interest coupon ay- ;
t
I attached to said bonds sl1911 be receivable by the City of
Clearwater for all takes or indebtedness due the City of ever$
Icind wbotsoever.
SYZTZON THREE; The foxy of said bonds not in conflict with '
i this Ordinance shall be approved by tba City Ccmmission, and
each of said bonds absll be sealed with the corporate-seal of
said City, signed by the City Auditor and C?ivrk and the City .
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Manager, and countersigned by the Mayor Commissioner, or the
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acting Meyor Commissioner; the interest coupon attached to said
bonds shall be signed in like manner as said bonds, with the ?
. fee-cimile sie,nature of nai.d officials.
SECTION FOUR: when said bonds shall have been issued as
berein provided, the said City Commission is hereby authorized_-'i '
to sell said bonds at either pkivate or public sale for the beat
price obtainable therefor, and the proceeds derived from the ?
sale of. said bonds shall bo used and expanded only for the purpose
herein expressly provided, that if there be a surplus derived
from the sale of said bonds after the complotion of the purposes
Herein provided, such a arplus Tray be used for any municipal
purposed d
SECTION M VE. The City Commission shall have full control
and direction over the purchase, construction, installation and
operation of said gas plant site, machinery, appliances and f.
' equipment which may be puchosed', constructed and Installed from :
the money derived from the sale of said bonds and the expenditure •. ., :•l
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• : of said money for such purposes; and shall have full direction ',•
-and authority over the money derived from the sale of said bonds
for such purposed, and shall have,the right to fix and determine
j . the quality.of service to be furnished, quantity and quality of ?r' . '•
gas to be supplied,and the rate.to charged for the some.
r i'?i?,-r..•?+ t°?-*:?^. ... Ril:i a a'? .. .. ??' ? •i'.
t?l/?' ? • ' i? . .i•e •111,' ?11'i?,l, ?:!• -T,11 ryJrt,
ShCTION SU: A special tax shall be assessed, levied and
collected each year upon all property, both real rind personal,
subjoct•to taxes within the corporate limits of the City of `
C1esewater for the purpose of paying interest upon said bonds
semi annually, an herein set forth, and ?n addition tax upon ?
all of such property as shah be necessary shall be assessed, ?
levied and collected each year for the purpose of providing a '
sinklrg fund' for the payment of said bor,,ds at their maturity, i
said sinking fund shall be deposited and invested an provided[
by ttze Charter of the City of Clearwater, provided, however,
that when said gas plant is in operAtion the said Commisiit on :r;•,;".' ... : ,. ' .;
shall, have the right to provide for from the earnings of said '
said
~
gas plant sufficient funds to pay the i,ntQre a t upon/bonds and r ., t
provides sinking fund for the betirement atd payment of said
' bonds at their maturity, and for re-placement, extension, :'.
. improvement or depletion of said plant and the equipment whereof,
'
as to them shall seem expedient, provided further', that the '41ty
Comminaion shah at all times provide sufficient funds for the
' a
payment of interest upon said bonds semi--annually, as herein ?' 1, ` •• •
provided, and the creation of sinking fund for the reti:Pement ? k :. ;'. '
.
of acid bonds either by taxes or by earnings from said gas plant,
'
or both.
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SECTION SEVEN A special election shall be held in
accordance with law and the Chai-•ter and ordinances of said City,
in which said election only those persons authorized by the
Charter of the City,of Clearwater to vote in bond..elections
' shall vote.in enid election at which election it shall be x f '?
determined whether bonds as herein mentioned shall be issued :-Ek
and sold. Said election shall be held on the llth day of Merrb
'
1924; and the question of whether bonds to the amount and far
'r ; ? ,:• the purpose herein specified shall be issued and sold by the
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l City shall be submitted to the electors of said Cit
ossessin '
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the qualifications of electors in bond' elections
as provided
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he Charter There shall be provided for. tln
, the use of said
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election ballots substantially in the fbllowing form:
OFFICIAL BALLOT
SPECIAL ELECTION OF TUE CITY OF CLEARWATER, FLORIDA,
HELD ON THE 11th _DAY OF MARCH 1924.
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d rM?_wr ro.rwwrww..rrwwwwwwrr«r.+w«..w.._w-wwrwwwwr__wwwwwrwawwwwr-r
Hake a cross mark (X) before the proposition in favor of
c issuing bonds, if you favor the same. Make a cross mark (X)
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° beforegthe proposition against the issuance of bonds, if you
Appose the some,
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Shall the City Commission of the City of Clearwater Florida
sell 51 thirty year interest coupon brands in the amount of s
$150000.00 for the purchase of a site.. machinery, supplies
and equipment for a gas plant and the installation of the same;
for the manufacture, sale and distritution of artificial gas
for the City of Clearwater, Florida; w«w_««_«.._ww_wrw?wrwrw.rwrr«rrrr..r«w-4--jr'1Qrrwrwrw«..-wwww«,.-wwwr
• «rw}wwrw«««ww__-__w.._rr__w__wwwww___a,_ww__-w«rwwr«w-«ww_«w...wwrw__ ' ..
Shall the City Commission of the City of Clearwater, Florida' ?
issue and sell. _.P?thirty years interest coupon bonds in the amo
amount of $150000.00 for the purchase of a situ machinery,
supplied'and equipment for a gas plant and the installation of E,
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the same for the manufacture, sale and distribution of art-
ificiel pas for the City of Clearwater, Florida? E
..----------- ww__ ----«_wrlwwr-ww__w__..«ww..wr--°--www.+
NO
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SECTION EIGHT: If a majority of the voters east at said
election shall be in favor of the issuance of said bonds it
shall be the duty of the City Commission to issue and sell bonds ;.
in accordance with this Ordinance, but if a majority of said votes. ,
yMJ cast in said election shall not, be for the issuance and sale'
of said bonds then no bonds shall,be issued and
sold. LJ
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SECTION NINE; This Ordinance shall be published in full-
in one Issue of the Clearwater Evening Sun a nowspoPer
published in the City of Clearwater, Florida, and the fbllowing
notice shall, be publ.ishod' in The Clearwater Evonin Sun a news-
paper of general circulation published in the City of Clearwater,
once a week for four consecutive weeks prior to the Il?th day
of Mores ah`, 1824, the date of said election, to-wit:
NOTICE OF BOND ISSUE FOR PUBLIC IN•PROVEMENT,
Notice is hereby given that the City Commission of the
City of Clearwater, Florida, on the 4th day of February X1924,
adopted' Ordinance No, 220 entitled: An Ordinance for the
.Isamence and sale of Bonds by the City of Clearwater, Florida,
to Provide for the Payment of said. Bonds and to prescribe the 1-,i
purposes.ifor,.Which the Money derived from the Sale of said Bonds
shall be Expanded, which said Ordinance provides for the issuing
by the City of. Clearwater the total amount of $150,000400 of
bonds of said City for the following purposes, to-wit: For the
purchase of a site, machinery, supplies and equipment for a g . as
.1
plant and the installation of the some for.the manufacture,'sale
and distribution of artificial gas in the City of Clearvater,
Florida, Said bonds,to be issued in denomination of the Thousand
($1,00*00) Dollar each, maturing thirty yearn after the'First
day of May , 1824, dated the First day of May 1824, bearing
interest at the rage ofd per semi-annually on the First day
of M?az and the First day of November of each year, and having
interest coupons attached of sufficient number and account'to
pay the interest semi-annually as 'aforesold until the maturity
of said bonds, said bonds payable at the Mechanice and Metals
National Bank in the-City of New York and the State of New York.
Notice id hereby given that under the terms of said''
Ordinance a special election shallsbaidheld on the 11th day of
Ma,'1824, at the City Hall in/01t7, to be participated in
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by.ths qualified electors of s'sid City, and at said election
:4;,;E?'E the question of whether or
?, ;..'> .;;?•. ,. not laid bonds shall be issued and
-XD -A
:,-`"?Sh; ;•?T4.•s."s aald..in "accordance with ,the'.Notice, and 'the terms. and provisions'
,"` ,?s£ °"831-! •5!`'1' .f ,? ''? .. ..
c J,' a^;?`ry: ?,'',?y r. °;::="„-Ai;?F;(1.??.'X}i:i.•f.i;,,?ta,:n F,•?i•'- ''' .-'' ',?" f' '
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W1 M, OMMMOM
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of said Ordinance shall be submitted-to said electors.
By order of the City Commission of the City of Clesrwster,
7 7 .
Florida, this 4th dray of February 1924.
Frank J. Booth
Mayor Commissioner&
Attest:
J. R. Thomas
Y e r .i
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"-? SECTION TER: All ordinances or parts of ordinances in
"nfli.ct with this ordinance are hereby repealed. `i•;t' .. .. ;,,,''
Passed and adopted by the City Commission of the City of
Clearwater, Florida, this 4th day of February 19249 Maned) Frank J. Booth
mayor Omm s8 oner.
H Attes :
?Sipned) J. R. Thomas* City ems:
(Seal)
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