HomeMy WebLinkAboutCHAPTER #60C~APTER NO. l~b
AN u~iDIi.?Ai.~CE Providin~ for the Issuance a.na oa~e of an
Interest Bearing Time L'ari'ant to be Kno¥.m as Oity off ;Sebastian,
Florida, Time ~'arrant, Issue of 1929, in the sum off Three Hundred
and Fifty Dollars, to be Used for the ~-'urpose of ~tetiring E:,~isting
indebtedness of said City.
Be It Ordained by the l~,[ayor and City Council o£ the City
off Sebastian, Florida:
Sec. i. That rudder and by virtue o£ Ohapter 11155 of the
laws off Flo~'ida and of Section 85 thereoff, a Time ~arrant of the
City o£ Sebastian, Florida, in the sum o£ Three Hund~,~ed smd Fii'ty
Dollars, shall be is~ued as ffollov~,s:
Said Time ~'iarrant shall be numbered l; shall 'be in the denomi-
nation off ~;350.O0; shall be dated November l, 1929; shall be due
November l, 1930; and shall draw interest at the rate of six per
cent per an~zm, interest payable semi-an;~ually.
.bec. 2. Both the principal and interest of said Time ~,,r, ..~
~,arr~.nt
sh&ll be payable at the Indian Pliver Cotu~ty Bank, Sebastian, Florida.
Sec. 3- ,Said Time '~.~arrant shall be signed by the Mayor,
countersigned by the President off the City Council and attested
by the Oity Oierk, who shall affix the Oity seal thereto. Said.
Time ',¥'a-xz..%nt shall be in the £ollov.~ing form, to-wit:
Sec. 4. The Time ~arrant herein provided for may be sold
at p~'ivate s~:le, provided it is not sold for less than par, or
it ~ay be sold to the hishest bidder, ~£ter advertisement flor
tv~o successive weeks in a newspaper p~lished in Indian River ~ounty,
Florida.
Sec. 5- The proceeds of the Time '~¥arrant provided for herein
shall be used for the purpo~'~e of retiring' existing indebtedness of
said city.
Sec. 6. It shall be the duty of the City Council to assess
and levy a tax on the taxable property in said city for the purpose
off obtaining interest and raising a sinking ffund, flor the pa~uent
off the Time '~'arz'ant provided for herein, which ta,x shall be levied
and collected in the same manner as other taxes.
Sec. 7. all ordinates ~d parts of ordin~.tnces in conflict
herewith are hereby :~epeaied.
;sec. ~. This ordinance shall be in full force and ef2ect
i~nediaVely upon its passage ~d approval by the l,layor, or ~oon its
becoming a law without such ~pproval.
I hereby certify that the fore~'oing ordinance was duly
passed by the Oity 0o~oil the ~ day of ~,~~~ , 1929.
To ~the ~ayox of the Oity of Sebastian, Florida:
z~e~aby certify that the fforegoing Ordinance was duly passed
by the Oity Vouncil on the day.,o~ ~ ~ __, 1929.
~ ~ City Olerk
Approved by mc this ~ day of'~ }r~x ~. x ~