Page 50 - 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 oj the City oj Lake City
Sec. 7. This act shall become effective im­
mediately after its passage and approval.
Approved May 1, 1907. 47 47/257

CHAPTER 5509. ACTS 1905.

AN ACT Authorizing the City of Lake City, a
Municipal Corporation Organized and Exist­
ing in Columbia County, Florida to Issue
Bonds for the Purchase of Public Utilities and
Other Municipal Purposes and to Provide for
the Expenditure of Moneys for Municipal

Purposes and the Management of Public
Utilities.

Be it Enacted, by the Legislature (f the State of Florida:

Section 1. The Mayor and City Council of
the City of Lake City, in their corporate capacity,
are hereby authorized to issue, from time to time,
bonds of said city to such amounts, not exceeding
twenty per cent, of the assessed valuation of the
taxable property on the city tax rolls, and of such
denominations, bearing such rates of interest,
not exceeding five per cent., becoming due at
such times and upon such conditions as may, by
ordinance calling for a bond election, be determin­
ed, the proceeds from the sales of which bonds at
not less than par value shall be used for municipal
purposes as may be provided by said ordinance,
and for the payment of which bonds, and the in­
terest thereon, the entire taxable property of
said city, and the public utilities acquired and own­
ed by the city, may be pledged: Provided, That

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