1958-7A RESOLUTION AUTHORIZING THE EXECUTION AND
DELIVERY OF AN ASSIGNMENT OF CIGARETTE TAX
MONEY FROM THE CITY OF EDGEWATER, FLORIDA,
TO OTIS PRUETT AS SECURITY FOR THE PAYMENT
OF CERTAIN PROMISSORY NOTE OR PROMISSORY
NOTES EXECUTED AND DELIVERED BY SAID CITY
AS PAYMENT FOR 1HE CONSTRUCTION OF CROSS-
OVERS, THE SAPS BEING A PART OF THE PROPOSED
WATER SYSTEM OF THE CITY OF EDGEWATER,
FLOR ID A.
WHEREAS, The City of Edgewater, Florida, by resolution dated
April 28, 1958, authorized the pledge of cigarette tax money from
the City of Edgewater, Florida, to Otis Pruett as security for
moneys owed for the construction of certain cross—overs, the same
being a part of the proposed water system of said city,
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 Edge-
water, Volusia County, Florida, be and they hereby are authorized
and directed to make, execute and deliver to Otis Pruett an assign-
ment of all cigarette tax moneys paid to the City of Edgewater,
Florida, on and after the date of the 20th day of June ,
A. D. 1958, as security for the payment of that certain promissory
note or promissory notes previously authorized by said city,
PROVIDED, HOWEVER, that said assignment shall remain in effect
until the total obligation owed to Otis Pruett for the construction
of certain cross-overs in the City of Edgewater, Florida, not to
exceed an amount of $17,636.00 has been paid in full, either from
the aforesaid cigarette tax moneys, proceeds from the sale of water
revenue certificates recently validated by the Circuit Court of
the Seventh Judicial Circuit of Florida in and for Volusla County,
or from amy other source.
BE IT FURTHER RESOLVED that all resolutions or parts of
resolutions in conflict herewith be, and the same hereby are
rescinded.
1958-P
The above and foregoing resolution was presented by Council-
man _ Broga _, 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 30th day of April , 1958,
the vote on said roll call of said council being as follows:
Mayor