1958-5A RESOLUTION AUTHORIZING THE EXECJTION AND
DELIVERY OF A PROMISSORY NOTE AS PAYMENT
FOR WORK PERFORMED BY OTIS PRUETT AND ALSO
AUTHORIZING THE PLEDGE OF CIGARETTE TAX
MONEY FROM THE CITY OF EDGEWATER, FLORIDA,
AS SECURITY FOR SAID OBLIGATION.
WHEREAS, Otis Pruett was the low bidder to install and
construct cross-overs in the city of Edgewater, Volusia County,
Florida, for the sum of $17,636; and,
WHEREAS, It was necessary and expedient to let the afore-
said contract prior to the sale of water revenue certificates
for said city; and,
WHEREAS, The cigarette tax of the city of Edgewater,
Volusia County, Florida, is unpledged and unincumbered; and,
WHEREAS, The amount of cigarette tax received by the city
of Edgewater, Florida, for the past fiscal year was slightly
more than five thousand dollars; and,
WHEREAS, it is expedient and necessary for the said city
of Edgewater, Volusia County, Florida, to execute and delive r
a promissory note or promissory notes to Otis Pruett, the total
sum of said note or notes to be $17,636 as payment for the
installation and construction of the aforesaid cross-overs,
the same being part of the proposed water system of the city
of Edgewater, Florida; and,
WHEREAS, the aforesaid promissory note or notes shall
be paid out of the proceeds from the sale of the water revenue
certificates recently validated in the Circuit Court of the
Seventh Judicial Circuit of the State of Florida, in and for
Volusia County;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF EDGEWATER, FLORIDA:
SECTION 1. That the Mayor and City Clerk of the City
of Edgewater, Volusia County, Florida, is hereby authorized
and directed to make, execute and deliver to Otis Pruett a
promissory note or promissory notes in the total sum of
195145
$17,636 as payment in full for the installation and construc-
tion of the cross-overs in said city, the same being a part
of the proposed water system of said city.
SECTION 2. That said promissory note or promissory
notes shall be payable out of the proceeds from the sale of
the water revenue certificates recently validated by the Circuit
Court of the Seventh Judicial Circuit of Florida, in and for
Volusia County, PROVIDED, HOWEVER, that in the event there
are no proceeds from the sale of said water revenue certifi-
cates, the aforesaid promissory note or promissory notes shall
be payable from the cigarette tax derived by the city of
Edgewater, Volusia County, Florida, which cigarette tax now
is unpledged and unincumbered and will remain so until the
aforesaid obligation or obligations is fully paid.
BE IT FURTHER RESOLVED that all resolutions or parts of
resolutions in conflict herewith be, and the same hereby are
rescinded.
The above and foregoing resolution was presented by
Councilman Shaeffer , who moved its adoption,
said motion being seconded by Councilman Farrell
and upon rollcall vote, said resolution was duly declared
adopted at the special meeting of said council held the 28th
day of April, 1958, the vote on said rollcall of said council
being as follows:
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Councilman