O-12-M
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MISC. ORDINANCES
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51
ORDINANCE NUMBER l2-M
AN ORDINANCE PROVIDING FOR THE BORROWING AND REPLAYMENT OF FUNDS TO
BE USED FOR THE PURPOSE OF MAKING ADDITIONS, REPAIRS AND ALTERATIONS
TO A MUNICIPALLY OWNED BUILDING AND OTHER MATTERS RELATING THERETO:
WHEREAS, the City Council of the City of Clermont has en-
tered into a contract with R. Lane Spikes, doing business as Spikes
Builders, to make certain additions, repairs and alterations to a
municipally owned building located at the corner of Montrose and Seventh
Streets, Lots 11, 12 and 13, Block 76, City of Clermont, and
WHEREAS, it is found and determined by the City Council of
the City of Clermont, Lake County, Florida, that is is necessary that
funds be made available to the City Clerk and/or Finance Officer of
the City of Clermont to defray the costs of aforesaid additions,
repairs and alterations to the aforesaid municipally owned building,
including architect's fees and miscellaneous expenses in the following
amoun ts :
1. R. Lane Spikes (Spikes Builders) contract
2. Hill Stiggins, Architect (contract)
$71,269.00
4,385.56
3. Miscellaneous expenses
345.44
$76,000.00
therefore,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CLERMONT, LAKE COUNTY,
FLORIDA:
Section 1. That the City Council of the City of Clermont, Lake County,
Florida, through its Finance Officer, borrow from its
Equipment Replacement Fund Reserves the amount of Seventy
Six Thousand Dollars G76,000.00) which shall be used
exclusively for the purpose of fulfilling the contract
obligations of the City of Clermont to R. Lane Spikes
(Spikes Builders) in the amount of Seventy one thousand
Two Hundred Sixty Nine Dollars ($71,269.00) and to Hill
Stiggins, Architect, in the amount of Four Thousand
Three Hundred Eight Five Dollars and Fifty six cents
($4,385.56) and for miscellaneous expenses not to exceed
Three Hundred Forty Five Dollars and Forty Four cents
($345.44) .
Section 2. That the City Council of the City of Clermont, Lake County,
Florida, through its Finance Officer, rC~þay from the
General Fund to its Equipment Replacement Fund Reserves
the amount so borrowed, along with interest at the rate
of three and one half percent per annum (3~%) according
to the schedule which follows:
Fiscal Year
1966-67
1967-68
1968-69
1969-70
1970-71
1971-72
1972-73
.Principal
9,000.00.
10,000.00
10,000.00
11,000.00
11,500.00
12,000.00
12,500.00
Interest
1,650.00
2,345.00
1,895.00
1,645.00
1,260.00
857.00
438.00
Total
10,650.00
12,345.00
11,895.00
12,645.00
12,760.00
12,857.00
12,938.00
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MISC. ORDINANCES
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52
ORDINANCE NUMBER l2-M
Section 3. This Ordinance shall become effective immediately upon
its passage and approval by the Mayor.
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PASSED by the City Council of the City of Clermont on its first read-
ing on January 4, 1966.
PASSED by the City Council of the City of Clermont on its second reading
on January 18, 1966
PASSED by the City Council of the City of Clermont on its third reading
on February 1, 1966.
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P~ idènn of the Counc1l
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AND APPROVED by me this December 21, 1965.
[J .0' 42.,_ O~h11
.f~~Ci~~;ont
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CERTIFICATE
I HEREBY CERTIFY, that a certified copy of the above and fore-
going Ordinance No. l2-M was duly posted in accordarice with the Charter
of the City of Clermont
DATED, February 1, 1966
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