HomeMy WebLinkAbout062229MINUTES
CITY COMMISSION, SANFORD, FLORIDA, JUne?2 -at -10:3 0 A M 19-2-9
The City Commission of the City of Sanford Florida , met in adjourned session at
the City Hall in Sanford, Florida at Ten - Thirty A M , June 22, 1929•
Present: Commissioner , Nelson Gray, Mayor
" S 0 Chase.
" Frank L Miller
" R A Newman
" Vivian A Speer
City Attorney Fred R Wilson
City Manager, G H Oairns.
City Clerk, F S Lamson
The First matter to come before the Commission was a further consideration of
steps to be taken with a view to negotiating direct with the holders of City of Sanford bonds
after july 1st, 1929, provided present negotiations between the City of Sanford and the bond
house representatives are not brought to a satisfactory conclusion.
After considerable discussion, Commissioner Newman moved that the City Attorney be
instructed to draft a form letter stating that the City of Sanford will not be able to pay
the interest on its alleged obligations on July 1st, and requesting that the City be notified
of what bonds, giving series and numbers, each holder has. Also, that a sufficient number of
these letters be transmitted to the Chase National Bank and the National Park Bank, with the
request that.one copy be returned with each coupon presented for payment on July 1st.
Seconded by Commissioner Miller and adopted by the following vote:
Commissioner Gray
Aye
" Chase
Aye
" Miller
Aye
" Newman
Aye
" Speer
Aye
A committee of citizens next presented to the Commission draft of form letter to be
used for the purpose of obtaining contact
recommended that it be approved.
with the holders of City of Sanford bonds, and
In view of the fact that the draft of form letter as submitted by the citizens c
mittee was similar in form to that which the City Attorney had been previously instructed to
prepare, and after several agreed -to changes had been made.
Commissioner Miller moved that it be approved.
Seconded by Commissioner Newman and unanimously adopted, sail form letter being
as follows:
" Sanford Florida
July 1, 1929
TO HOLDERS OF SANFORD BONDS:
flue to conditions over which we have no control, it is impossible for the City of
Sanford to meet its interest items on its alleged obligations.
The City Commission is negotiating with the Bond Brokers with a view of effecting an
adjustment.
All holders of Sanford bonds are requested to register with the City Clerk their
names, addresses, number of an amount of bonds they hold.
F S Lamson
City Clerk.
- ----- - - - - -- - -
(Tear off and return )
F S Lamson
City Clerk
Sanford, Florida.
C
Fl
1
1
1
Dear Sir:-
MINUTES
CITY COMMISSION, SANFORD, FLORIDA, June 22, at 10 :3o A m 19_2q
I am the holder of Sanford Bonds -- Series
Date
Numbers
Total amount Maturing
Signed : —
. .
Post Office Address
"
Commissioner Newman next moved that the Clerk be instructed to write the National
Park Bank and Chase National Bank of New York City, stating the fact that the City would not be
in position to meet the interest items on its alleged obligations on July 1st, 1929, and ask-
ing if, *hen returning coupons and bonds sent to them for payment, they would be willing to
attach a copy of the foregoing form letter, the City agreeing to pay a reasonable charge for
this service.
Seconded by Commissioner Miller and adopted by the following vot ,6:
Commissioner Gray
Aye
" Chase
Aye
" Miller
Aye
" Newman
Aye
" Speer
Aye
The Clerk was next instructed that immediately upon receiving agreement of the
Chase National and National Park Banks to distribute the above form letters, a sufficient
number should be immediately printed and forwarded for the above purpose.
The Clerk next reported receipt of notice from the Chase National Bank that coupons
due July 1st, 1925 to July 1, 1927, on Public Improvement Bond No. 27, Series "G" , had been
presented for payment, and requesting that $137.50 be forwarded for this purpose.
Thereupon, in view of the fact that these unpaid coupons are already carried on the
books of the City as a liability, and as all other coupons due on those dates, which have
7
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been presented for payrAent, have been paid; the Clerk was instructed to forward check for $137.
to the Chase National Bank for the purpose of paying the aforesaid coupons.
There being no further business, the meeting adjourned.
Attest:
City Clerk.
or