Sec. 21.03. - May acquire existing water plants.
If the Mayor and City Council deem it advisable to acquire any existing plant for supplying the city and its inhabitants with water, and the price to be paid therefor has been agreed to or ascertained by any of the means provided in the preceding section [section 21.04 of this division], it shall be the duty of the Mayor and City Council to at once call a bonding election under the provisions of Section 41 of this Charter [not compiled], and submit the question of issuing and selling in the manner provided by said section sufficient bonds of the city to purchase said plant; but unless it is proposed to enlarge and extend the plant, which is a separate question and which may be submitted separately at the same time, the par value of the bonds to be issued shall not exceed in the aggregate the price to be paid for said plant, and while the rate of interest to be paid semi-annually shall not exceed five (5%) percent per annum, the plant to be acquired with any enlargement or extension of the same may be specially pledged in the bonding ordinance as security for the payment of said bonds. If, however, the City Council, with the concurrence of the Mayor, deems it advisable to build and construct one or more plants for supplying water for municipal use and for the use of its inhabitants, and the plans and specifications therefor and an itemized statement of the approximate cost thereof, have been furnished as provided in the preceding section [section 21.04 of this division], it shall be the duty of the Mayor and City Council to call and hold a bonding election as provided for in Section 41 of this Charter [not compiled] for the purpose of issuing and selling bonds of the city with which to construct such plant or plants according to the said plans and specifications furnished therefor by the Commissioners of Public Works, *including the purchase of the water supply and such other real or personal property as may be necessary in the construction of said plant. And the Mayor and City Council are hereby granted the authority to pass all such resolutions and ordinances as may be necessary to exercise any of the powers hereinbefore or hereinafter granted with respect to establishing, maintaining and operating one or more municipal plants for the supply and distribution of water for municipal use and the use of such persons as may require and pay for the same. Should bonds of the city be voted under the provisions of this section, the Commissioners of Public Works* shall take charge of and sell said bonds, and the proceeds derived from such sale shall be placed to the credit of said Commissioners of Public Works* as provided by this Charter. And should the City of Tampa, by any of the means provided in this Charter or otherwise, become the owner of one or more plants for supplying water for municipal use and the use of such persons as may require and pay for the same, such plant or plants shall be maintained and operated by the Commissioners of Public Works,* who shall have charge, management and control thereof, and from time to time may employ such persons as may be necessary to operate the same and collect the revenues derived from such operation, and the Commissioners of Public Works* shall also have the power to fix the compensation of all persons so employed. Any surplus revenues accruing from the operation of such plant or plants, after the most economical management of the same and after paying for the cost of operation, maintenance and betterments, shall be applied towards the payment of interest and sinking fund on account of any bonds outstanding for the purchase, construction or enlargement of said plant or plants, but no betterments or enlargement of any such plant shall be made except upon the order or direction of the Mayor and City Council; and should there be any surplus after the payment for enlargements and extensions or betterments, maintenance, operation, interest and sinking fund as hereinbefore stated, such surplus shall be appropriated to such other municipal purpose as the Mayor and City Council may determine in their annual budget. And the Commissioners of Public Works [17] shall on or before the first day of June of each year render an itemized statement of the receipts and expenditures in connection with the said plant or plants and said statement shall be published in at least one newspaper published in the City of Tampa within ten days thereafter.
(Laws of Fla. 1887, Ch. 3779, § 63; Laws of Fla. 1919, Ch. 8364, § 15; Compiled Charter 1958, § 771)