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ORDINANCE NO 297
AN ORDINANCE TO BE ENTITLED: AN CRDINANCE FOR THE ISSUANCE AND
. ;J SALE OF BONDS BY THE CITY OF CLEARWATER, FLORIDA; TO PROVIDE FOR
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THE PANMENT OF SAID BONDS AND TO PRESCRIBE THE PURPOSES FOR WHICH
THE MONEY DERIVED FRQ,l THE SALE OF SAID BONDS SHALL BE EXPENDED,
BE IT ORDAINED BY THE CITY C 04FLISSION OF THE CITY-OF CLEARWATER,
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FLORIDA:
SECTION ONE: The City Conunission of the Citv of Clearwater,
Florida, be and it is hereby authorized to borrow the sum of
` Twenty-four Thousand & 00/90 Dollars, to be used and expended for the
following purposes, to-wit: ..
For the purchase of the necessary land and the expenses of widening
the west side of Fort Harrison Avenue from Cleveland Street to the
first alley south-of Cleveland Street in Block B, John R. Davey
Subdivision.
That said sum if approved by an affirmative vote of a majority
of the qualified electors of said City who own real estate in said
City voting in an election to be hold, as herein provided, shall be
borrowed for the term of (SO) Thirty years from the first day of
October, 1924, and the City Commission is hereby authorized to peg
intorest on said money so.borrowed as aforesaid at the rate of S per-
cent per annum on the first day of October, and tho first day of
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April, of each and every year thereafter for the full period of
Thirty Tears from the said first day of October, 1924.
'SECTION TWO. To secure the na•.vment of the said sum to be
borrowed as aforesaid, the said City Commission shall issue and sell
Twenty our negotiable coupon bonds of the said City of Clearwater"
in the denomination of one Thousand dollars ($1000,00) each; each of
a
,.:. said bonds shall be payable in gold coin of the United States of
America of current weight and fineness or its equivelont and shall be
payable at the Mechanics and Metals National Bank in the City of
?" ' ' :-: ; ;•° New York, State of New York. To each of said bonds shall be attached
interest coupons of such number and amount as shall be necessary to
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j ,;. °ly = peg the interest semi-annually on the principal sum of said bonds at
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j the rate of 51 percent per annum until•the principal of said bonds
! shall become due, and each of said bonds shall mature Thirty years
EE from the first day of October, 1924. Said bonds and the interest
i coupons attached thereth shall be receivable by the City of Clearwater
„ for all taxes or other indebtedness due the City of every kind
whatsoever.
SECTION THREE. The form of said bonds not in conflict with this
Or6inance 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 and Clerk and the City Manager, and
countersigned by the Mayor Commissioner, or the acting Mayor
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3 Commissioner; the interest coupon attached to said bonds shall be
signed in like manner as said bonds with the facsimile signiture
of said officials.
SECTION FOUR. When said bonds shall have been issued as herein
provided, the said City Commission is hereby authorized to sell said
bonds at either private or public sale for the best price obtainable
therefor, and the proceeds derived from the sale of said bonds shall
be used and expanded only for the purposes herein expressed, provided
that if there be a surplus derived from the sale of said bonds after
the completion of the purpose herein not forth, such surplus may
be used for any municipal purpose.
SECTION FIVE: The City Commission shall have full controll
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.' direction and authority over the money derived from the sale of said
bonds for the purposes herein set forth and the expenditure of said
money for such purposes.
SECTION SIX: In the event said bonds are issued. and sold, a
special tax skull be assessed, levied and collected each year upon
all property, both real and personal, subject to taxation within
} the corporate limits of the City of Clearwater for the purpose of pay-
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ing interest upon said bonds semiannually, as herein not forth, and
'.•`T°eF.:`°'; an additional tax upon all of such property as shall be necessary
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ahall,be assessed, levied,, and collected each year for the purpose
of providing a sinking fund for the payment of said bonds at their
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maturity; said sinking fund shall be deposited and invosted as
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provided by the Charter of the City of Clearwater*
SECTION.SEVRN; A special sleetion'shall be hold in said City in
! accordance with, the Charter and ordinances of said City in which ?
said election only those. pers ons authorized by the Charter of said "
f City to vote in bond elections shall participate; and at said eleo-
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} tion, it shall be determined whether bends as harein meattoned shall
be issued and sold... Said election shall be held on the 23 day of ;
September, 1824; and the question of whether bonds to the amount;
and for the purpose herein provided shall be issued and sold by the
City shall be submitted to the aleotors of said City ossessin the
q ualifications of electors in bond elections, as provided by t;ho ;
Charter,of said City. There shall be provided for the uve of said
election ballots substantiall,t in the following form:
OFFICIAL BALLO'1
SPECIAL{ ELECTION OF THE, CITY OF CLEARWATER, FLORIDA. :.
i HELD ON THE 23rd DAY OF September 1924.
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I Fake a cross mark (X) before the proposition in favor of the issuance
and sale of bonds if you favor thr same.
I Make a cross mark (X) before the proposition against the issuance
and sale of bonds, if you oppose the same.
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SHALL the City Commission of the City of Cl.earivatex, Florida, issue
and sell 54 peroent30 3year interest coupon bonds in the amount of
1 Twenty-four Thousand Dollars for the purchase of the necessary land
and the expenses of widening the west side of Fort Harrison from
Cleveland Street to the first alley south of Clevol.and Street, Bl,ook,B
aohn R. Davey Subdivision?
------------------------------------?-------I---------------------mot- I ` mot' ------------------------------------ ------------------------------
YES
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SHALL the City Commission of the City of Clearwater, Florida, issue
and sell 5- percent 30 year interest coupon bends in the amount of
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Twenty--four thousand____ _ Dollars for the purchase of the necessary
! land and the expenses of widening the west side of Fort Harrison
( to the first alley aolth ofclev a d St ec t
Avenue from Cleveland Street/ Block B, John R. Davey Subs v sion
---------.----------------------------F-NO-- ----------------------
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SECTION EIGHT: 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 duty of the City Commission to issue and sell bonds in accordance
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,
than no bonds shall be issued and sold.
SECTION NINE: This Ordinance shall be published in full in one
issue of the Clearwater Evening Sun,a newspaper published in the City
of Clearwater, Florida, and the following notice shall be published
in Clearwater Morning News, a newspaper of general circulation pub-
lished in the City of Clearwater, once a week for four consecutive
weeks prior to the 23 day of September,19242 the dato of said
election, to- wit:
NOTICE OF BOND ISSUE FOR PUBLIC: IMPROVEMENT
Notice is hereby given that the City Conunission of the City of
Clearwater, Florida, on the 18th day of August,1924, adopted Ordinance
No. 227 entitled: An Ordinance for the Issuance and Sale of Bonds by
the City of Clearwater, Florida; to Provide for the Payment of said
Bonds and to Prescribe the Purposes for which the monoy Derived from
following purposes, to-wit:
''Said-bonds shall, be''issuad,i the denorainat
f the Sale of Said Bonds Shall Be Expanded: which said Ordinance provides
_3 ...; ,., for the issuance and sale bythe City of Clearwater of bonds of said
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City in the total, amount of Twenty-four Thousand Dollsrs for the
For the purchase of the necessary land and the 'expenses of
widening the west side of Fort Harrison Avenue from Clevoland
Street 'to the first alley south of Cleveland Street, Block 8,'
,€:;$ John R. Davey Subdividion.
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ion of One 'ThouneAnd
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Dollars($4000.00) Bach, maturing Th rty years after the first day of
October, 1924, dated the first day of October,1924, bearing interest
at the rate of 5?- percent per annum, payable semi-annually on the
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first da of October and the first day of A ril of each and every
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year until the principal of said bonds 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 payable at the Mechanics and Metals National Ban: in the City
of New York, State of New York.
Notice is hereby given that under the terms of said Ordinance,
a special election shall be Mold in said City on the 23 day of
SepteFber-, 1924, at the City Hall of said City,,to be participated
in by the qualified electors of said City, who are qualified to vote
in bona elections under the Charter of said City, and at said election
the 'question of whether or not said bonds shall.be issued and sold
in accordance with this notice and the terms and provisions of said
Ordinance shall be submitted to the said electors.
BY ORDER OF the City Conunission of the City of Clearwater,
Florida, this 18 day of August, 3.924.
SECTION TEN: All ordinances or parts of ordinances in conflict
with this ordinance are hereby repealed.
PASSED AND ADOPTED by the City Commission of the City of
Clearwater, Florida, this l8 day of Aug last., 1924. [
Frank J Booth
Mayor Commissioner
ATTEST :
J. R. Thomar
City Clerk.
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