Page 52 - 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
49
Charter of the City of Lake City
constitute the list of electors qualified to vote at
such election. The Mayor and City Council are 49/257
authorized to make in and by the ordinance pro­
viding for the issuance of such bonds, as a condi­
tion of the issuance of such bonds, such provisions
as they may deem advisable for the control and
direction by an executive board created by and
named in such ordinance of the expenditure of
all moneys raised for public improvements and for
public utilities, and for the control and management
of all public utilities acquired by the city. And
such ordinance shall be published at least one
month before the holding of the election to ap­
prove the issuance of such bonds, and the pro­
visions of such ordinance shall not be changed, ex­
cept by ordinance approved by the city electors
who pay taxes on real or personal property. The
Mayor and City Council shall levy and collect,
annually, such sepcial tax on the taxable pro­
perty within the corporate limits of said city as
may be necessary, to pay the interest on said bonds
and to provide a sinking fund for the payment of
said bonds, and, by ordinance, shall require of the
executive board and the disbursing agents handling
the moneys arising from the sale of said bonds, such
bonds for the faithful performance of their duties as
they may determine.
Sec. 2. Such of said bonds, or the proceeds
thereof, as may be provided by such ordinance,
may be used for the taking up of oustanding in­
indebtedness of the city, and for the purchase of
public utilities now being operated in said city; and
such public utilities may be purchased subject
to existing bonded indebtedness.

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