HomeMy WebLinkAboutOrdinance No. 09-1974'FR
MICROFILMED 3.14 -80
ORDINANCE NO. 9 -74
AN ORDINANCE AMENDING ARTICLE XX, SECTION 13 OF
THE CHARTER OF THE CITY OF CAPE CANAVERAL,
FLORIDA, PROVIDING THE CITY POWER TO BORROW
MONEY AT INTEREST RATE AND FOR A TIME PERIOD
NOT OTHERWISE PROHIBITED BY LAW; DELETING EXIST-
ING SECTION 13 OF ARTICLE XX OF SAID CITY CHARTER
IN ITS ENTIRETY; PROVIDING AN EFFECTIVE DATE.
WHEREAS, Section 166.011(5), Florida Statutes, provides that
existing Charter provisions of the City shall become Ordinances of the City,
subject to modification or repeal as other ordinances; and
WHEREAS, Section 13, Article XX of the Charter of the City of
Cape Canaveral provides that the City may borrow on a temporary basis
for a period of one (1) year funds at an interest rate not exceeding five per
cent (5%); and
WHEREAS, said Section 13, Article XX as hereinbefore described
is not feasible, practical or usable, and the City desires to delete such
provision and replace same with the City's power to borrow money at a
current rate of interest and for any time period so long as such provisions
do not conflict with other provisions of law;
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF
THE CITY OF CAPE CANAVERAL, FLORIDA, AS FOLLOWS:
SECTION 1. Section 13, Article XX of the Charter of the City of
Cape Canaveral, Florida is hereby repealed and the following provision is
adopted in lieu thereof:
"SECTION 13. TEMPORARY BORROWING BY CITY
When necessary to supply deficiencies in revenue, to provide
for emergencies, to purchase property or to pay any expense
for which proper appropriations shall be made by the City
Council, the City shall be authorized to borrow funds for a
period of time and at an interest rate not otherwise prohibited
by law."
SECTION 2. This Ordinance shall become effective immediately
upon its adoption by the City Council of the City of Cape Canaveral, Florida.
MICRONIZED
3 -14-80
ADOPTED by the City Council of the City of Cape Canaveral,
Florida, this 7TH day of MAY
Approved as to fo ±m:
, 1974.
City Attorney
1
NAME
YES
NO
ABS
MACLAY
SHAME
Riviesecenesm
SALVAGGIO
TNURM
1/
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FIRST READING: 4/2/74
ADVERTISED: 4/8/74
POSTED 4/17/74
SECOND READING 5/7/74