Res 94 a.~ut f~r the pa~nt of 2ene~l bonds ~' <: ..... ' ~'
~of time a~4 also for ~he_ '. ~ ' ..~-,,., .... ~.~ .....
and a :~rther ~ount m~s i:~oluded ~ ]~ ~ ~stL~a~d ~u ~ of
certain speci~ improvement bo~ss rep~'e~mutin:: deficit o2 tho
~e ~id a~unt of ?o~ey has not b~.en ool~eted i~
~1 a~ ~.~'~.c~'-~.~.~.,, a~unt ~s not b~ .~o.~c~A to ~y
~.~,~ bondc ~!~ioh h.a~ ~t~red and which ~-i?.~ ~mtur6
~o ~ca~. yeti' ,"~ '" ~d<:Cio!e~t ~mou~t of ,:o~Oy ~'. ~',~ been
~p~ose for w~'doh i .. ~r: ~!leot<~d, ~d It has proved to
actioable of ~uch amunt I:~.~, a~
to
band on aco~:nt of th:: prohiui~ive .:::st of suni motl~,
i~ holders of ~lrav bonds, and to no~f'" each individ~l bond
holder of whon a ~co~ Is had, notifyi~ such ~rson or ~rso~m
or o~o~tion to for',mrd ~y bond =nSf in~r:st c~:~ ns of said
bon~s that I~,.~ matured prier to ~is date, sln~ October 1~ 19~9,
of a:.lowing the Ci~~ of ~l~y Beach~ Florl<~, to apply a
pa?::ent on said bond and/°~ in~er:.st coupon, according
amount that .has b~n collected by ~.ii,,~ o~.ty ~i~m~ ~-.,o.~.~
purDo~ ~ ~d
pa~nen~s in even r~ltip~ ~cludiu[; in his total amount
o~ the bonds and/or * '
. ~er~s~ beco~nc ~ue duri~ th.
~ar, for the reason th. at tl~s amo,~n~ of m. oncy collated
this ti~, ~msents thc bu~ of thc ~ney that ~i
t~":~,~ tho a~:'Eunts ~aid by t~m Oit~y on such bonds
· '~" find ncc,: ......
~e able :r~!utton was ~oduood by ~.~. Po~
seconded by ~. ~ve, ~md on ro~ c~l u~i~ua~ oav~ied,
City Co,oil m~ting },~y '