HomeMy Public PortalAboutORD 77/02ORDINANCE NO. 77-2
AN ORDINANCE OF THE TOWN COMMISSION OF THE
TOWN OF GULF STREAM, FLORIDA, AMENDING THE
OFFICIAL CHARTER OF THE TOWN OF GULF STREAM
AT ARTICLE VII SO AS TO ELIMINATE CERTAIN
RESTRICTIONS THEREIN RELATING TO THE ISSUANCE
OF BONDS AND TO BRING SAID LANGUAGE INTO
CONFORMITY WITH STATE STATUTES.
BE IT HEREBY ORDAINED BY THE TOWN COMMISSION OF THE
TOWN OF GULF STREAM, FLORIDA:
Section 1. Article VII, Section 1 of the Official
Charter of the Town of Gulf Stream is amended to read as follows:
"Section 1. Whenever it shall be deemed advisable to
issue bonds of the Town of Gulf Stream for any purpose or purposes
hereinafter named, viz: for raising money to be used in pur-
chasing, constructing, extending or improving waterworks, or
electric light plants, or for constructing, purchasing or
improving gas works or other illuminating works, or for the purpose
of constructing or extending or improving a system of sewers or
otherwise promoting the health of the Town; for the purpose of
opening, widening or paving the streets and sidewalks of the
Town, and for opening, constructing, and maintaining parks,
promenades or play grounds; for the purpose of establishing and
maintaining a fire department in said Town; for the purpose of
erecting public wharves or buildings for the use of said Town,
and for the purpose of erecting jetties, groins and seawalls
within said Town; and for any one or more of said purposes and for
any other purpose deemed necessary for the public good, provided
that the same is not in conflict with the Constitution or laws
of the State of Florida, the Commission in its corporate capacity
is hereby authorized to issue bonds of said Town, under the seal
of the Municipality, in the manner set forth under Florida Law."
eliminated.
Section 2. Section 2 of Article VII is hereby
Section 3. Section 3 of Article VII is hereby
amended to read as follows:
"Section 2. Prior to the issue of any bonds, the
I Commissioners shall adopt an ordinance or resolution fixing the
SRSSER JOHNSTON@ RANDO LPN
310 OKCCCHODEE RD,
NEST PALM BEACH. FLA.
33402
aggregate amount of the proposed issue, the rate of interest, the
purposes for which the moneys to be derived therefrom shall be
expended, the time when said bonds shall be payable, and providing
for and creating a sinking fund and interest assessment for meeting
and discharging the principal and interest of said bonds.
Section 4. Section 4 of Article VII is hereby amended tc
read as hollows:
"Section 3. The Commissioners shall prescribe the form
and denomination of said bonds. The Treasurer shall not sign any
such bonds until he or she has given a bond, payable to the Town,
properly conditioned, with sufficient surety to be approved by
the Commission, and in such an amount as shall be fixed by the
Town Commission, that he or she will faithfully perform the
duties of Treasurer with respect thereto.
No member of said Commission or officer, agent or employe
of the Town shall be directly or indirectly interested in any
contract under the charge of the Commission."
Section 5. Section 5 of Article VII is hereby amended tc
read as follows:
"Section 4. The Treasurer shall keep a separate account
of such bond issue, showing the number and amounts of bonds issued,
the receipts therefrom and the disbrusements of the proceeds
thereof."
Section 6. Section 6 of Article VII is hereby amended
to read as follows:
"Section 5. All advertisements and notices regarding tke
issuance and sale of said bonds shall be as provided by law."
Section 7. Severability.
If any section, sub -section, sentence, clause, phrase
or portion of this ordinance is for any reason held invalid or
unconstitutional by any court of competent jurisdiction such portion
shall be deemed a separate, distinct, and independent provision and
such holding shall not effect the validity of the remaining portions
hereof.
JOHNSTON
SASSER & RANDOLPH
310 OKEECHOBEE RD.
VEST PALM BEACH. FLA.
33402
Section 8. Ordinances Repealed.
All Ordinances or parts of Ordinances in conflict with
the provisions of this Ordinance are hereby repealed.
PASSED AND ADOPTED ON READING THIS
O -r-, DAY OF Ap�i` A.D., 1977.
MAYOR 1
ATTEST:
.l p� C3LCI o�
Town Clerk
Town of Gulf Streanf
246 Sea Road
Gulf Stream, Fla. 33444
JOHNSTON
SASSER fl RANDOLPH
310 OKEECHOBEE RB.
NEST PALM BEACH. FLA.
33402