HomeMy WebLinkAboutOrdinance No. 17-1981M ICRCFI LMED 1 -18 -83
ORDINANCE NO. 17 -81
AN ORDINANCE AMENDING ARTICLE XX, SECTION 8,
OF THE CHARTER OF THE CITY OF CAPE CANAVERAL,
FLORIDA, PERTAINING TO THE MAXIMUM ALLOWABLE
INTEREST RATE, BY PROVIDING A NEW MAXIMUM
ALLOWABLE INTEREST RATE; REPEALING ALL SECTIONS
OF THE CODE IN CONFLICT HEREWITH; PROVIDING AN
EFFECTIVE DATE.
BE IT ORDAINED, by the City Council of the City of Cape
Canaveral, Florida, as follows:
SECTION 1. Article XX, Section 8, of the Charter of the
City of Cape Canaveral, Florida, entitled "Signing Bonds" per-
taining to maximum allowable interest rates and which reads as
follows:
!1
•
. . and to bear interest at the rate fixed by the City
Council, not exceeding six percent (6 %) per annum, . . . "
is hereby amended to read as follows:
" . and to bear interest at the rate fixed by the City
Council, not
rated bonds,
SECTION
Canaveral in
SECTION
upon its adop
ADOPTED
Florida, this
exceeding the prevailing market rate for similarly
2. All portions of the Code of the City of Cape
conflict herewith are hereby repealed.
3. This Ordinance shall become effective immediately
tion.
BY the City Council of the City of Cape Canaveral,
8
day of October
Approved as to form:
, 1981.
NAME YES NO
BOYD
CALVERT
LEE
MURPHY 1(
RUTHERFOF]�
First Reading 9 -15 -81
Posted: J 9 -16 -81
Advertise : 9 -21 -81
Second Reading: 10-8-81