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MINUTES
CITY COMMISSION, SANFORD, FLORIDA, Feb. 27, at 6 P M is 31
The City Commission of the City of Sanford, Florida met in adjourned session
at the City Hall in Sanford, Florida, at 6.Oclock P M. February 27, 1931.
Present : Commissioner T.L.Dumas, Mayor.
If W.A.Leffler
if H J Lehman
" V. A. Speer
" C. A. Byrd
City Attorney, Fred R.Wilson
City Clerk, F. S . Lamson
Meeting called to order by the Chairman
3-35
The purpose of the meeting being primarily to act upon the request of.W.H.Tunnicliffe
Liquidator of the Seminole County Bank, for the passage of a. resolution consenting to the
terms of a proposed compromise settlement between the Seminole County Bank and the Chase
National Bank of New York, the Clerk first read communication from Special Counsel Geo. A.
DeCottes, concurred in by City Attorney Fred R.Wilson, recommending the passage and adoption
of such a reaolution by the City Commission, said letter of recommendation being as follows:
Hon.City Commission.
Sanford, Florida.
Sirs:
" February 27, 1931 .
RE: Proposed Compromise settlement
between Seminole County Bank and
the Chase National Bank of the
City of New York.
Relative to the above subject, the City is in nowise concerned, other than as a
depositor and creditor of the Seminole County Bank, with any compromise settlement and
adjustment made by the Liquidator of the Seminole County Bank with the Chase National Bank
of the City of New York. Should such a settlement be effected same in no way impairs the
City's rights and contentions in the litigation now pending between the City of Sanford,
Florida and The Chase National Bank of the City of New York.
I have carefully examined the proposed compromise settlement and adjustment set
forth in a petition addressed to the judge of the Circuit Court of the Twenty -third Judicial
Circuit of Florida, in and for Seminole County, a true copy of which properly identified, is
file in the office of the City Clerk of the City of Sanford, Florida.
You have heard the statements of Mr. W.B.Crawford2 Attorney for the Liquidator and
Mr. W.H.Tunnicliffe, the Liquidator, to the effect that the Chase Nationel Bank will not con-
sent to said proposed compromise adjustment unless the City is willing to adopt a resolution
in which it is set forth that without waiver of any of its rights and privileges in the
litigation now pending between it and The Chase National Bank of the City of New York, that
it has no objection to the effecting of said compromise adjustment and will not endeavor
to assert the ..t:_erms thereof as a defense in its behalf in any litigation pending between
it and The Chase National.Bank of the City of New York.
I have drafted and submit herewith a resolution to the above effect for adoption
by your Body and I recommend the adoption thereof.
GAD:S
Yours very truly,
Geo. A.DeCottes,
Special Counsel.
I concur in the views expressed by Mr. DeCottes above and his recommendation that
the resolution referred to be adopted by the City Commission..
Fred R.Wilsm,
City Attorney. "
Thereupon Commissioner Byrd introduced Resolution No. 406 and moved its adoption.
Seconded by Commissiorer Lehman and carried by the following vote:
Commissioner Dumas
Aye
" Leffler
Nay
" Lehman
Aye
Speer
Aye
Byrd
Aye.
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331611, MINUTES
. CITY 'COMMISSION, SANFORD, FLORIDA,_ Vphru ary 27 1 9_33-_.
Said Resolution No. 406 being in words and figures as follows:
RESOLUTION N0. 406.
WHEREAS, it has been made known to the City Commission by W.H.Tunnicliffe, Liqui-
dator of--,the Seminole County Bank, that negotiations are pending between said Liquidator and
THE CHASE NATIONAL BANK OF THE CITY OF NEIN YORK for a compromise settlement of the indebted-
ness of the SEMINOLE COUNTY BANK to THE CHASE NATIONAL. HANK OF THE CITY OF NEW YORK, the
terms of said compromise settlementbeing embodied in a petition addressed to the Judge of
the Circuit Court of the Twenty -third Judicial Circuit of the State of Florida, in and for
Seminole County, a true copy of which petition-has been filed by said Liquidator with the
City Clerk of Sanford, Florida, bearing the legend " W.H. T.- F. S.L. Feb. 26, 1931, " the
initials W.H.T. being the initials of W.H.Tunnicliffe, the Liquidator of the SEMINOLE COUNTY
BANK, and the initials F.S.L. being the initials of F.S.Lamson, City Clerk of Sanford,
Florida, and
WHEREAS, the said Liquidator has advised this Commission that unless the City of
Sanford, Florida, will consent to the terms of the said proposed compromise settlement as
set forth in said original petition, THE CHASE NATIONAL BANK OFT,'EiE CITY OF NEW YORK will not
become a_ party to said proposed compromise settlement, because there is now pending in th
Circuit Court of Appeals for the Second Circuit, and in the United States District Court, in
and for the Southern District of Florida, certain litigation between the City of Sanford,
Florida., and THE CHASE NATIONAL BANK OF THE CITY OF NEW YORK, involving certain purported
bonds and certain purported certificates of indebtedness, and should said litigation be
finally determined unfavorably to the City of Sanford, Florida, the City of Sanford, Florida
in event said compromise adjustment is effected without its consent, might thereafter
institute legal proceedings against the Liquidator and /or THE CHASE NATIONAL BANK OF THE
CITY OF NEW YORK to vitiate the compromise settlement effected by the Liquidator with THE
CHASE NATIONAL BANK OF THE CITY OF NEW YORK or might thereafter, if said compromise settlem
is effected, endeavor to assert as a defense on its behalf in the litigation'« now pending
and undetermined between the City of Sanford, Florida, and THE CHASE NATIONAL BANK OF THE
CITY OF NEW YORK, the compromise settlement and adjustment made by the SEMINOLE COUNTY
BANK with THE CHASE NATIONAL BANK OF THE CITY OF NEW YORK, and
WHEREAS, this Commission is in nowise concerned with or interested in any com-
promise settlement or adjustment that can or may be made by the said Liquidator with THE
CHASE NATIONAL BANK OF THE CITY OF NEW YORK; other than as a creditor of the SEMINOLE
COUNTY BANK desirous of having the Liquidator to make the most favorable compromise adjust-
ment of the indebtedness of the SEMINOLE COUNTY BANK to THE CHASE NATIONAL BANK OF THE
CITY OF NEW YORK it may be possible for him to obtain; therefore
BE IT RESOLVED, that this Commission for and on behalf of the City off Sanford,
Florida, has no objection to the approval by a Court of competent jurisdiction of said
compromise settlement set forth in said original
proposed/petition a true copy of which properly identified, is on file in the office of the
Cith Clerk of the City of Sanford, Florida; and
BE IT ;FARTHER RESOLVED, that this resolution is adopted solely at the request of
said Liquidator without admitting the validity of the Claims of THE CHASE NATIONAL BANK OF
THE CITY OF NEW YORK , that it is the holder in .due course, and /or the pledgee of certain:
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CITY COMMISSION, SANFORD, FLORIDA, Eph ril ary 27 - 6 P.M. 191
purported bonds and purported certificates of indebtedness of the City of Sanford,Florida,
delivered to it by the SEMINOLE COUNTY BANK and /or Forrest Lake and A.R.Key, and without any
waiver of or prejudice to the rights, claims and contentions of the City of Sanford involved
in said pending undetermined litigation_ between the City of Sanford, Florida and THE CHASE
NATIONAL BANK OF THE CITY OF NEW YORK, and
BE IT FURTHER RESOLVED, that this resolution shall become effective immediately
upon its adoption.
Adopted this 27th day of February A.D. 1931.
T.L.Dumaa
W.A.Lefflx
H.J.Lehman
Vivian A.Speer
_ 0.A.Byrd.
As the City Commission of the
City of Sanford, Florida.
Attest:
F.S.Lamson
City Clerk. ( Seal)
The utter of the condition of the bleachers at the Municipal Athletic Field was
next brought to the attention of the Commission, and in view of the fact that they have
deteriorated to such an extent as to be dangerous to be used, Commissioner Lehman moved
that they be ordered removed.
Seconded by Commissioner Byrd and carried.
The meeting then adjourned.
Attest:
City irk .
Mayor.