Page 165 - compilation-containing-the-charter-and-revised-ordinances-of-the-city-of-lake-city-florida-(1912)-gillen-and-hodges

Charter and Revised Ordinances of Lake City Florida (1912) Gillen & Hodges
Charter of the City of Lake City
162
same month be filed with the City Clerk and the
other with the Secretary of the Board of Public 162/257
Works.
Sec. 8. It shall be the duty of the City
Treasurer or other agents or officers receiving
and accounting for bonds or coupons redeemed,
paid or purchased, to cancel the same when re­
ceived in the presence of the person from whom he
shall receive them and to deliver all such bonds
and coupons to said trustees, together with the
report above mentioned, each month.
Sec. 9. The City Treasurer, by and with the
advice and direction of the Board of Public Works
as bond trustees, shall from time to time apply all
the moneys which may come into his hands as a
redemption or sinking fund to the purchase of said
bonds at their market value, or shall, under the
same direction, invest the said money in bonds of
the United States or the State of Florida or in such
other bonds or securities as shall be approved by
said trustees and as may seem to them advisable.

Sec. 10. It shall be the duty of the Board of
Public Works, on or before the first day of Febru­
ary of each and every year to report to the City
Council the number and amount of said bonds out­
standing, with an estimate of the amount neces­
sary to be raised for interest and sinking fund
which statement and estimate shall serve as a
basis of assessment by the City Council for the
ensuing year for that purpose.

Sec. 11. The Mayor of the City of Lake City
is hereby directed to issue his proclamation calling
an election to be held in said City on the first day
of August, A. D. 1905, to determine whether the

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