383 Amending Municipal Charter: Borrowing

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• ry 49,e �L 41 383 /C9' ORDINANCE NO. AN ORDINANCE OF THE CITY OF ZEPHYRHILLS, A MUNCIPAL CORPORATION, AMENDING THE MUNICIPAL CHARTER OF SAID CITY, AMENDING SECTION:'22 . 01 ( 37 ) , GOVERNING THE CITY ' S AUTHORITY TO BORROW MONEY ; AMENDING 22 . 01 ( 38) DELETING SAME AND AMENDING SECTION 61 . 01 AND 61 .02 GOVERNING THE PURPOSE AND THE AMOUNT OF BONDS AND EXEMPTING THE WATER WORKS BONDS FROM LIMITATION . WHEREAS, amendments to the City Charter are subject to referendum by City electors , and WHEREAS, there is scheduled a City election for April 9, 1985. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF ZEPHYRHILLS, FLORIDA, AS FOLLOWS : ' SECTION 1 . That the municipal charter of the City of Zephyrhills be, and the same is hereby now amended as . .` follows : ( 1 ) Section 22 . 01 , Title II , Chapter 2, is amended in its entirety and shall hereafter read as follows : • "Section 22. 01 ( 37) . To Borrow Money. The. C.ity :.. , - Council shall have the power by the majority 'Vote -of„ f.,,1 all members in regular sessions to borrow money for _ the use of the City and to pledge the funds, credit 3 and property of the City for the redemption .Hereof.. The evidence of such indebtedness shall be executed.:. . .°,i ;. by the President of the City Council and attested b9 the City Manager in the name and upder the seal 'of. ., the City and shall not bear a greater rate of interest than ten ( 10%) percentum per annum. " (2 ) Section 22 . 01 ( 38) , Title II , Chapter 2, is amended to delete same in its entirety. . sj ( 3) Section 61 . 01 of Title VI , Chapter'.; 1', shall be amended in its entirety and shall hereafter read -,,- as follows . "Section 61 .01 Purpose and Amount . ,• _ . Whenever it shall be deemed advisable to issue bonds ; ' for any public, municipal purpose or purposes , the City Council is hereby authorized to issue bonds of � said municipality under the seal of the corporation 6 in an amount not to exceed fifteen15% ( ) percentum —6 : \ j,� -' of the assessed value of the taxable property within_: City, said value to be determined � � ., the limits of said i 1 '' bythe latest ,r, J,,�1;_ ; ,„,„ completed assessment roll of the; l� ��fCity, which shall be signed by the Mayor, „toil ` _ G .1 r. 10. R. 1400 PG 0214 i , 08 . .