O-001-32 ORDINANCE NO. 1.
An Ordinance to be entitled:
AN ORDINANCE AUTHORIZING AND DIRECTING THE MAYOR AND VIL-
LAGE MANAGER, ACTING TOGETHER, TO ISSUE INTEREST BEARING
WARRANTS OF INDEBTEDNESS, WHENEVER THE VILLAGE SHALL BE
WITHOUT FUNDS IN CASE TO PAY ANY PAST DUE SALARY., WAGES
OR OTHER INDEBTEDNESS3, AND OTHERWISE WHENEVER THE MAYOR
AND THE COUNCIL SHALL DEEM IT FOR THE BEST INTEREST OF
THE VILLAGE TO DO SO; AND PROVIDING A FORM FOR SUCH WARRANTS
AND COMMITTING THE VILLAGE TO THE LEVY OF TAXES FOR THE PAY-
MENT OF SAME.
BE IT ORDAINED BY MIAMI SHORES VILLAGE:
Section 1. That' whenever the Village shall be without
adequate funds to pay in full in cash, any past due salary or
wages to any officer or emplo;ee of the Village, or any past due
indebtedness to any creditor of the Village, incurred in the con-
duct of the affairs of the Village, and otherwise whenever the
Mayor and the Council shall, from time to time, deem it for the
best interest of the Village to do so, the Mayor and the Village
ManagerV acting together, are hereby authorized, empowered and
directed, from time to time, to issue to any officer, employee
or creditor of the Village, in the name ofV and on behalf of, and
as the act and deed of the Village, a warrant evidencing the exist-
ence of an indebtedness (whether for salary, wages or other in-
debtednessT, that may be due by the Village, as a just and law-
ful obligation of the Village and committing the Village to the
payment of same on demand, with interest thereon, at the rate of
eight per centum per annum, from date of the warrant until paid.
Section 2. That such a warrant, in every instance, may
be in the form and substance, following, to-wit:
WkRRANT OF INDEBTEDNESS
Miami Shores Village, Florida,
19 0
Miami Shores Village, a municipa.2 corporation in Dade
County, Florida, acknowledges itself to be justly and legally
indebted to
and his assigns, in the sum of
Dollaxe.,
for
The said Village represents to every rightful holder
of this warrant that the indebtedness evidenced hereby is a pre-
existing one; that said indebtedness was created for a lawful-
ly authorized purpose, and for a purpose embraced in the budget
of contemplated revenues and expenses of said Village for the cur-
rent - fisoa.1 year, as approved by the Council of said Village; and
that all things have been done, within the time fixed by law, to
make said indebtedness a lawful and binding obligation of said
Village.
The said Village promises to pay to the rightful holder
of this waxrant, upon surrender thereof, the principal sum evi-
denced hereby, with interest thereon, at the rate of eight per
centum. per annum," from date hereof until paid, in lawful money
of the United States of America.
The indebtedness evidenced by this warrant, both princi-
pal and interest, shall be payrable on demand of the rightful holder.
hereoft but may be sooner paid at the option of said Village.
IN WITNESS WHEREOF, the said Village has caused its cor-
porate name to be hereunto subscribed, and its corporate seal affixed,
by the Mayor, attested by the Village Manager and Clerk, as its act
and-deed,, on the day and year first above stated.
MIAMI SHORES VILLAGE
By
As Mayor of said Village.
Attest:
As Village Manager and ex-officio
Cldtk thereof.
Miami Shcres Village, Florida.
For a valuable consideration to me in hand paid, the
receipt whereof is hereby acknowledged, I do hereby transfer,
set over and assign to
and its (his) assigns, the warrant of indebtedness on the opposite
side of this paper, and the indebtedness, principal and interest,,
evidenced thereby, with all the rights and remedies incident thereto.
WITNESS my hand and seal this day of
A. D. 19
(SEAL)
Miami Shores Village, Florida.
In consideration of the sum of
Dollars,
to us in hand paid by Miami Shores Village, a municipal corpora-
tion in Dade County, Florida, the receipt whereof is hereby acknow-
ledged, we do hereby acknowledge the receipt of the full payment,
satisfaction and discharge of the indebtedness, principal and in-
terest, evidenced by the warrant of indebtedness on the opposite
side of this paper and we do hereby cancel the same.
WITNESS our hands and seals, this _ day of
A. D. 19 0
(SEAL)
Section 3. That the issuance and acceptance of such
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