416AN ORDINANCE AMENDING SECTION 3 OF
ORDINANCE NO. 409 ENTITLED " AN ORDINANCE
AUTHORIZING THE CITY TO BORROW AS AN
INTERIM LOAN THE SUM OF $700, 000.00 TO
INITIATE THE CONSTRUCTION OF A NEW
SANITARY SEWERAGE SYSTEM, INCLUDING
COLLECTION LINES, PUMPING STATIONS,
FORCE MAINS, TREATMENT PLANT, SOFTENING
UNIT FOR WATER TREATMENT PLANT AND
APPURTENANT FACILITIES IN THE CITY OF
EDGEWATER, FLORIDA; TO ISSUE PROMISSORY
NOTES EVIDENCING SUCH INDEBTEDNESS; and
TO PROVIDE FOR THE PAYMENT THEREOF."
BE IT ENACTED BY THE PEOPLE OF THE CITY OF EDGEWATER, FLORIDA, That:
SECTION 1. Section 3 of Ordinance No. 409 entitled "An Ordinance Authorizing
the City to Borrow as an Interim Loan the Sum of $700, 000.00 to Initiate the
Construction of a new Sanitary Sewerage System, Including Collection Lines,
Pumping Stations, Force Mains, Treatment Plant, Softening Unit for Water Treat-
ment Plant and Appurtenant Facilities in the City of Edgewater, Florida; to Issue
Promissory Notes Evidencing such Indebtedness; and to Provide for the Payment
Thereof, " is hereby amended to read as follows:
The City is hereby authorized to borrow from the lank of New Smyrna, New
Smyrna Beach, Florida, the sum of $900, 000.00, to be evidenced by promissory
notes, the totals of which shall not exceed said amount, to be payable on demand
and to bear interest at the rate of Two and 95/100 (2. 95%) per centum per annum.
Such notes shall be executed in the name of the City by the Mayor and counter-
signed and attested by the City Clerk. The corporate seal shall be affixed
thereto. The City Attorney shall endorse upon such notes his approval as to
form and correctness. A copy of such promissory notes is hereto attached
and made a part of this Ordinance.
SECTION 2. All Ordinances or parts of Ordinances in conflict herewith be, and
the same are hereby repealed.
NFU
SECTION 3. This Ordinance shall take effect immediately upon its passage and
approval by the Mayor.
The above Ordinance was read in full and passed by vote of the City Council of
the City of Edgewater, Florida, at the recessed meeting of said Council held
on the 8th day of September, 1964.
Upon motion duly made, seconded and carried, the requirement of reading such
Ordinance upon second reading was waived and the Ordinance was ordered put
upon final passage.
Passed by vote of the City Council of the City of Edgewater, Florida, at the
recessed meeting of said Council held on the 8th day of September, 1964, and
approved as provided by law, the vote of said Council being as follows:
'AW
GOMM
s
Councilman
I L/Lr .i7
Councilman
Cuncilman
• /
Attest:
City Clerk
Approved this 8th day of September, 1964.
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