State of Florida v. City of Jacksonville

TERRELL, J.:

The City of Jacksonville owns and operates its electric plant and distribution system, hereinafter referred to as its municipal electric system. It became necessary to construct improvements, replacements and extensions to its municipal electric system to meet the expanding necessities of the City. Pursuant to this demand the City enacted Ordinance AA-357, authorizing these improvements, replacements and extensions, and providing for the issuance of $15,-000,000.00 in revenue certificates payable solely from the revenues derived from the operation of the municipal electric system…