Ord 236-38 ORDINANCE NO. .
AN ORDINANCE OF THE CITY OF DELRAY BEACH, FLORIDA, CALLING FOR A
FREEHOLDER,S ELECTION TO DECIDE ~ OR NOT THE CITY SHALL
ISSUE BONDS FOR THE PURPOSE OF RAISING FUNDS TO ERECT A MUNICIPAL
BUILDING.
WHEREAS, an emergency exists in the City of Delray Beach,
Florida, due to the fact that a Bond election to decide whether or
not the City of Delray Beach, Florida, shall issue bonds for the
purpose of raising funds to erect a municipal building, must be
held prior to October 1st, 1938, in order to secure certain necess-
ary assistance from the Federal Government, and, whereas, sufficient
time does not exist for the calling of such election under ordinance
except under an emergencyo rdinance,
NOW, TI~.R~0RE, BE IT 0RDAII~D by the City Council of the
0ity of Detray Beach, Florida, as follows:
1. That an election to decide whether or not the City of
Delray Beach, Florida, shall issue bonds in the principal amount of
Twenty-seven Thousand, Five Hundred ($g?,§00.00) Dollars for the
pu_~ose of raising funds to erect a municipal building, is hereby
called, and the date for the holding of such election is hereby
designated and set as Tuesday, September 27th, A. D. 1938.
2. That such bonds, if approved and issued, will be in
denominations of not more than Five Hundred ($500.00) Dollars each,
will mature serially over a period of from three (3) to twenty (20)
years from date of issue and will draw interest at a rate not in
excess of four (4%) percent per annum.
3. Ail qualified electors of the City of Delray Beach,
Florida, who are freeholders ~ghereln, shall be qualified to vote in
said election.
4. This ordinance shall take effect upon its passage.
PASSED in regular session on this the 22nd day of August,
presi~en't of OitY Council.
Attest:
....... Mayor.