255ORDINANCE NO. 255.
N ORDINANCE TO BE' ENTITLE An Ordinance for the
issuance and sale of Bonds of the City of Clearwater, Florida,
to provide for the payment of said Bonda, and to prescribe the
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purposes for which the money derived from the sale of said Bonds
'. shall be expended.
BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF
CLLAhti'rATER, FLORIDA:
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SUCTION 1. That the City Commission of the City of
Clearwater, Florida, be € nd it is hereby authorized to borrow ?
I the sum of Four Hundred and Ten Thousand Dollars, (6410,000.00)
said sum to be used and expended for the following purposes,
tot-unit:
For the purpose of completing the Causeway leading from
the foot of Cleveland Street to the Island West Thereof, known
as. Clearwater Key, including completion of the bridges, fill, 1F .
paving, sidewalks on both sides, end lighting system.
That said sum, if approved by the affirmative vote of a
} majority of the qualified electors of the said City who own
real estate in said City, voting in an election to be held as
herein provided, shall be borrowed for the term of thirty years
4. from the first day of September, 1926, and the City Commission
is hereby authorized to pay Interest on said money so borrowed.,
as aforesaid, at the rate of six per cent per annum, payable
semi-annually on the first day of September and the first day
of March of each rind every year thereafter for the full period
of thirty years from the first day of September, 1926, SECTION 2. To secure the payment of said sum to be
borrowed as aforesaid, the City Commission shall issue and sell
negotiable coupon Bonds of the City of Cloarwater, in denomination
of One 11housand Dollars Each. Each of said . Bonds shall be
pay- able in gold coin of the United States of America of current
weight and fineness, or its equivalent, and shall be payable at
sY°'wa?r:; :=.r..;.,;.I; ;=•,.;_ the Chree National Bank in the.City of New York, State of New
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York. To each of said Bonds Shall be attached in e treat
?;,> coupons
1 f iiY 5's"'s i.S•:i:.f,:i;:d?i
l'I. s? ?1 ?' v);r Sti 1,v?,: ro'.r <`?1?: *la t74"a)!`r+"4!.Y?N?:i <'T=n'?'4v "[YA11'.,.}hf,'R•:?"^h.• I.
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J of such number and amount as shall be neoossary to pay
I the interest semi-annually on the principal sum of said
Bonds at the rate of six per cent (6%) per annum, until
the principal of said Bond shall mature thirty years from
I " the first day of September 1926. Said Bonds and the said
Coupons attached thereto shall be receivable by the City
€ of Clearwater, Florida, for all taxes and indebtedness due
the City of every kind whatsoever.
SECTION 3. The forms of said Bonds, not.in conflict y
with this Ordinan ce , shall be approved by the City .
Commission.. and each of said Bonds shall be sealed with, the
corporate seal of said City signed by the City Auditor &
Clark, and the City Manager, and countereigned by the Mayor
Commissioner, or the Acting Mayor Commissioner. The Interest
Coupons attached to said Bonds shall be signed in like manner
as the said Bonds with the fac-simile signatures of said
officials.
SECTION 4. When the said Bonds shall have been issued
as herein provided, the City Commission is hereby authorized,
to sell said Bonds, at either private or public sale, for j '
the best price therefor, and the proceeds derived from the
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sale of said. Bonds shall be used and expended only for the
purposes herein expressed, if approved by the electors of
said City, voting in said election, provided that if there
be a surplus derived from the sale of said Bonds after the ;
completion of the purposes herein set forth, such surplus i
may be used fcm any hiunioipal purpose of said City.
SECTION 5. The City Commission shall have full control,
;. direction and authority, over the money derived from the sale
of said Bonds for the purpose herein set forth, and the
expenditure of said money for said purposes. ;
SECTION 6. In the event that said Bonds are issued
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1.; and sold, a -special tax shall be assessed, levied and oolleot-.
s,.:.,.•
ed each year on property both real and personal, subject to
taxation within the corporate limits of the City of Clearwater
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or- the` of inter s -
purpose paying e t upon
f said Bonds semi
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annually as herein set forth and an additional tax upon
j all of such, proporty as shall be necessary shall bo
assessed, levied and collected each year for the purpose
of providing a sinking fund, f or the payment of said Bonds
at their maturity. Said sinking fund shall be deposited
and invested an provided by the Chartar of the City of
Clearwater*
SECTION 7. A special election shall be held in said
j City in accordance with the Charter and Ordinances of said
City, in which election only those persons authorized by
the Charter of said City to vote in Bond Elections shall
participate, and at said election it shall be determined
whether said issue and bonds as herein mentioned shall be
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issued and sold, and in said election the electors of said
City shall vote upon the said proposition.
Said election shall be hold on the 29th day of July,
19260 and the question of whether bond6 to the amount and
fcir the purpose horein provided shall be issued and sold by
the se.Jd City, shall be submitted to the electors of said
City, possessing t}ie qualifications of electors in bond
elections as provided by the Charter of said City. There
shall be provided for the use of said electors ballots sub-
stantially in the following form:
OFFICIAL BALLOT,
Special election of the City of Clearwater,
Florida, held on the 29th day of July, 1926.
Make a cross mark (X) before the proposition in favor
of the issuance and sale of Bonds for the purpose herein, if
a. you favor the same.
J Luke a cross mark (X) before the proposition against
the issuance and sale of Bonds for the purpose herein, if
you oppose the same.
Shall the City C'. `:. ommission of the City of Clearwater,
Florida, issue and sell six per cent thin
p y year Interest
'•n rr
Coupon Ponds in the total, amount of $43.0j,000.00 for the
;? - .st. •6;`,7'f ?L? n S ?y s •'Jef Y'? •;J .'l,', i+.' ::'. ..
purpose of completing the Causeway leading from the foot o
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Cleveland Street to the Island West thereof, known as
Clearwater Key, including completion of bridges, fill,
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if paving, sidewalks and lighting system?
YES Shall the City Commission of the City of Clearwater,
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Florida p issue and sell six per cent thirty year Interest
Coupon Bonds in the total Amount of $410,000.00 for the
purpose of completing the Causeway leading from the foot
of Cleveland Street to the island West thereof, knorm as
Clearwater Key, including completion of the bridges, fill,
paving, sidewalks, and lighting system?
NO:
SECTION 8. If a majority of the votes cast at said
election shall be in favor of the issuance and sale of said
Bonds, it shall be the dity of the City Commission to issue
and sell Bonds in acccvdance with this Ordinance, but, if a
majority of said votes cast in said election shall not be in
favor of the issuance and sale of said bonds, then no bonds
shall be issued and sold.
SECTION 9. This Ordinance shall be published in full
in one issue of the Clearwater Morning Herald, a newspaper
published in the City of Clearwater, within five days after
its passage end the following notice shall be published in
the Clearwater Morning Herald published in the City of
Clearwater, Florida, once a week for four consecutive weeks
prior to the 29th day of July, 1926, the date of said
election. The first publication thereof to be not less than
twenty five days before the day of said election.
NOTICE OF BOND ISSUE FOR PUBLIC IMPROVEMENTS :
NOTCCE IS HEREBY GIVEN That the City Commission of the
City of Clearwater, Florida, on the 28th day of June 1926,
adopted and Ordained Ordinance No. 255 entitled a An
Ordinance for the Ism once - and Sale of Bonds of the City of
Clearwater, to Provide for the.Payment of said Bonds and to
Prescribe the purposes .for •which the Money derived from the
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sale of said Bonds shall be Expended" which said
ordinance provides for the issuance and sale by the City
of Clearwater, Florida., of Bonds of said City in the total
amount of 0410,000-00 for the following purposes to wit:
For the purpose of completing the Causeway leading
from the foot of Cleveland Street to the island Went thereof,
known as Clearwater Key, including the completion of the
Bridges, fill, paving, sidewalks on both sides and lighting
system.
Said Bonds shall be issued in the denomination of
One Thousand Dollars each, maturing thirty years after the
first day of September, 1926, bearing Interest at the rate
of six per cent per annum payable semi-annually on the First
day of March and the first day of September of each year
until the principal of said Bond becomes due and having
Interest Coupons attached of sufficient number and amount
to pay the Interest semi-annually as aforesaid until the
maturity of said Bonds; said Bonds shall be payable at the
Chase National Bmnk, New York City, State of New York.
NOTICE IS HEREBY GIVEN that e. special election shall
be held in the City of Clearwater, on the 29th day of July,
1926, 'at the City Hall in said City, to be participated
In by the qualified electors of said City, who are qualified
to vote in Bond Elections under the Charter of said City,
and at said election the question of whether or not said
bonds shall be sold and issued in accordance with this
notice, and the terms and provisions of said Ordinances shall
be submitted to the said electors, and the voters in said
election shall vote upon the said propositirn. By order of
the City Commission of the City of Clearwater, Florida, this
28th day of June, 1926.
FRANK S. BOOTH
Mayor UOMMISSIonere
Attest:
J. M. Gilmore
Ulty or erk.
SECTION 10. All Ordinances, or parts of Ordinances, in
oonflict with this Ordinance are hereby repealed.
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Passed. and adopted • by the City Commission of the city of . ?
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.4 ` ';.,;:' -' , C].enrwater, Florida, this the 28th day of June, 1928. ... ,.
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:.' ,' T'1{ANK J. BOOTH. ; :'
. .ayor- omm es oner.
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, . I City Auditor & Clerk. .._4 t,
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