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174 ORD114AI40B NO. 174 OF THE 01TY OF CLEI} MATF:I?, FLORIDA. AN ORDINANCE ENTITLED "Ali ORDINANCE TO PROVIDE FOR THE CALLING AND BOLDING OF A SPECIAL ELECTION TO AUTHORIZE THE CITY OIL' CLEAMIATER TO ISSUL FIVE PER CENT THIRTY YEAR COUPON BONDS IN TIIE SUM OF TEN THOUSAND DOLLAIVS FOR' THE PURPOSE - OF PROVIDING FOR THE PURCHASE OF LAND FOR A PUBLIC PARK AND TO PROVIDE FOR THE IUMEIrlPTION OF r SAID BONDS AND THE PAYMENT OF THE INTEREST COUPONS WITEN THE, S MM SHALL BECOME DUE." WHEREAS, Be W. Parker and associates have made a i proposition in writing to the Ci ty Council of the City of Clearwater to sell to said City a tract of land situated upon Cleamiater Key "vest of said City and containing about nine acres of land, for the sum of Ten Thousand Dollars; .}# and WHET-;AS, the said Be We Parker and associates propose to construct a bridge from the City of Clearwater across Clearwater Bay to the border of the land proposed to be sold to the said City; and WHEREAS, the said Be W. Parker and associates propose thAt the City shall not be obligated to pay the purchase price for said land until the construction of said bridge has been completed and open to traffic; and WHEREAS, the City Council believe it advantageous, expedient and for the best interest of said City that the said land be purchase for park purposes; THEMEFORE BE IT ORDAINED BY TIM CITY COUNCIL OF THE CITY OF CLEARWATER, FLORIDA. Section 1. That the City Council of the City of Cl.earvisa.ter, Florida, be and it is hereby authorized to borrow the sum of . Ten Thousand Dollars to be used and expended in the purchase of said land for park purposes and if the issue of bonds as herein provided shall be approved by the . affirmative Vote of three-fifths of the voters voting at the sp6aial 'election to be held as herein provided, that, the 'said sum of Ten Thousand Dollars shall. be borrowed upon t I t Lj ? ???•?.i'•Yi.•Li'y??''3,;sM ?;C;kF?K t"s, :.r't4'.?t.,?: ri? the terms and for the period of time herein stated, and that bonds shall be issued therefor to be dated the first day of January A. D. 1017 and that said bonds shall be numbered consecutively, beginning with number one and ondi-Z with number twenty, and the said City Council is hereby authorized to pay interest on the amount so borrowed as afnxoesaid at the rate of five per cent per annum, payable semi-annually on the first day of Januriry and the first dray of July of each and every year thereafter for the full period for which said bonds shall run from the first day of January 1917; that said bonds so issued shall be negotiable coupon bonds of the amount of Five Hundred Dollars each and shall be payable in gold coin of the United States of America of current weight and fineness, or its equivalent, and shall be- come due and payable on the first day of January, A. D. 1947 and the principle amount= of said bonds and the interest coupons there- to attached shall be payable at such place or places as may be designated in said bonds; to each of said bonds shal1 be attached interest coupons of such number and amount as shall be necessary to pay interest semi.-annually on the principal stun of each of said bonds at the rate of five per-cent per annum until the principal of said bonds shall become due. The interest coupons attached to said bands, shall when due, be receivable by the City of Clearwater., Florida, for taxes or indebtedness due the said City of Clearwater of every kind whatsoever. Section 2. The form of said bonds, not in conflict with this ordinance, shall be provided by resolution of the City Council, and each of said bonds shall be sealed with the seal of said City of Clearwater, and shall be signed by the mayor, countersigned by the president of the City Council and attested by the City Clerk. The interest coupons attached to said bonds shall have engraved or lithographed thereon the fac-simile signatures of said Mayor, President of City Council and City Clerk. Section 3., When said bonds shall have been issued as herein provided, the City' '"Council is hereby authorized to sell said bonds at•.either publio or private sale, for the best price obtainable s ( ,N r I t.. therefor, provided, said bands shall not be sold for K greater discount than ten per cent, and the'procceds i arising from the sale of said bonds shall be deposited with the bond trustees of said City and shall be used only for the purpose of purchasing and paving for a, park site, as herein specified. t Section 4. That a special tact shall, be assessed, t levied and collected each year during the life of said bonds j upon all property subject to taxation 'within the limits of the City of Clearwater, for the payment of the interest upon the bonds and that a further tax of such amount as to the Council shall seem proper and necessary, shall be Assessed, levied and collected for the purpose of providing a sinking fund for the payment of said bonds at their maturity. Section 5. That a special election is hereby called to be held under the lasts and ordinances of the City of Clearwater, to be held on Monday the 23rd day of October A. D. 1916, to be participated in by all persons over the age of twenty one years, who are tax payers on .real property situated within the corporate limits of the E said City and who have resided in the City of Clearwater three months of the twelve months preceeding the said election, to determine whether or not the City Council shall be authorized to issue bonds as herein provided; at which election the question as to whether bonds to the amount of Ten 'thousand Dollars shall be issued and scald by said City of Clearwater shall be submitted to the voters of said City possessing the qualifications as prescribed herein. The said.election shall be conducted in accordance with the ordinances and laws of the City of Clearwater providing for the holding of elections. That there shall be provided for use at said election ballots substantially in the folla;ring farm';• ' . i t .. ?'•F • ? `' .t:' 1. t'F,, S•??•?•Y., y41 Official ballot. 0PL''CIAx+ ELECTION OF THL CITY OI+' CLLA?iti'1A'i']sR, VAJVA IDA, = OCTOBER 23rd A. D. 1916., For the purpose of voting upon the issuance of five per cent, thirty year coupon bonds to tl?e amount of Ten ' Thousand Dollars for the purpose of purchasing a park r site for said City. (Make a cross-mark (X) before the proposition in favor ` yJ of issuing bonds if you favor the same; make a cross-marls .. - - (X) before the proposition against issuing bonds if you i ?? Dose same) o A ? ?j ? { F Vii BOND, AGAINST.. $ OrTD .: Section 6. That R. J. Booth, J. E. Eldridge and J. F. Bennett are hereby designated inspectors of such I election and T. J. Sheridan is hereby designated as clerk ; of said election. Section 7. 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 S. That all ordinances or parts of ordinances in conflict herewith are hereby repealed. Passed by the City Council on this the 20th day of ; September A. D. 1916. a 4 -NSI NID• E H. CO CRETAN \ I President, City Council. ATTEST: (SELL) j ' W. S. Gregory, City Clerk. ; Approved by me on this the 20th day of September A. D. 1916. , :,; ,,4 °•,?. :; „~...• (SIGNM) J. R. THOMAS. MAYOR of the City of Cleamater Fla. % dp;Yy,' h ?F •? ?