O59-14ORDINANCE #59-14
AN ORDINANCE PROVIDING FOR THE SUBMISSION
TO THEVOTERS OF THE CITY OF BOYNTON BEACH,
WHO ~RE FREEHOLDERS, THE Q~JESTiON OF ISSUING
MUNICIPAL BUILDING BONDS AT A GENERALELEC-
T!ON TO BE HELD IN A~{D FOR SAID CITY ON THE
1ST DAY OF DECEMBER 1959-
WH~EAS, the City of Boynton Beach does not at present have
a public library, and it is deemed advisable in the interest of
the public to build and stock with books a Municipal Library; and
WHEREAS, the Council of the City of Boynton Beach has here-
tofore estimated the cost of constructing and stocking, a Munici-
pal Library, and does hereby estimate that it will cost not less
than $175,000.00; and
WHEREAS, funds are not available for the purpose of construc-
ting a new building, purcluasing books, as hereinabove mentioned,
and it will therefore be necessary to borrow money and in evidence
thereof issue bonds of the city, and before bonds can be issued
the question of issuing said bonds must be submitted to the elec-
tors of said city, who are freeholders, and approved by a majority
of the ~ectors voting on said question at an election called for
that purpose, or at a general election;
NOk~, THEREFORE, be it ordained by the Council of the City of
Boynton Beach, as follows:
SECTION l: That it is hereby determined to be in the interest
of the City of Boynton Beach to construct and stock a Mmuicipal
Library, as hereinabove mentioned in the preamble of the ordinance,
and for that purpose it will be necessary that the city borro~ money
and in evidence thereof issue the bonds of said city.
SECTION 2: That there be borrowed by, for and on behalf
of said city the sum of $175,000.00 for the purpose of paying
the cost of co~structiug a new Municipal Library, ~d that to
evidence said loan negotiable bonds oF said city be issued, and
that said bonds be designated "Municipal Library Bonds", be one
hundred seventy-five in number, numbered from I to 175, inclusive,
be of the denomination of $1,000.00 each, and mature in 20~ars,
and bear interest from date at a rate not to exoeed five (5~ per-
cent per annum, payable semi-annually.
SECTIOM 3: That the question of issuing said $175,000.00
munioipal building bonds of said city, as hereinabove described
iu Section 2 hereof, be submitted to the qualified electors of
said city, who are freeholders, at a regular election to be held
in said city on the 1st day of December 1959 between the hours
oF 7:00 A.M. and 7:00 PoM. of said day.
SECTIOM 4: That the ballot to be used at said election
for the purpose of submitting the question to the voters shall
be in substantially the following form:
QUESTION TO iSSbME $175 , 000 . 00 MUNICIPAL BUILDING BONDS
(Instruction to Voters: Place a cross (X)
in the square opposite the word indicating
the way you desire to vote.)
Shall bonds in the amount of $175,.000.00
be issued by the City of Boynton Beach
for the purpose of paying the cost of
constructing a new Municipal Library
and stocking the same with books in and
for the City, maturing in 20 years and
bearing interest at a rate not to exceed
five (5) percent as provided by Ordinance #59
-t4 passed and adopted by the City Council
on the day of entitled
Ordinance#59-14
An 0rdiu~uce providing for the submission
to the Voters, who are Freeholders, of the
City of Boynton Beach, the question of is-
suing $175,000.00 Municipal Building Bonds
at a General Election to be held in and
for said City on the 1st day of December
! ~ .
939
FOR THE ORDINANCE
AGAINST THE ORDINANCE
SECTION 5: That this ordinance shall take effect upon its
ratification at a referendum election to be held on the 1st day
of December 1959, in accordance with the provisions of the Charter
of the City of Boynton Beach for holding bond elections.
First reading this 19th day of October , 1959-
Second, final reading and passage this
1959.
30th day of October
Attested by: ~~~Ci~~