State v. City of Fort Myers

THOMAS, J.:

The City of Fort Myers owns and operates the sewerage system and the plants furnishing water and gas to its inhabitants. Efficiency demands that these properties be extended and improved. To obtain funds to accomplish this program it is proposed by the city to combine the three utilities and pledge the net revenues of the consolidated operation to the payment and retirement of $550,000 in “Municipal Utility Revenue Certificates.” Inasmuch as there are now outstanding and unpaid certain certificates secured by the net revenue of the water plant alone, the income available for…