HomeMy WebLinkAbout011728CITY COMMISSION, SANFORD, FLORIDA.
MINUTES
AdJourne~ ~[eetin~ -
January l?th
The City Commission of the City of Sanford,
Florida, met in adjourned session at the City Hall in Sanford, Florida,
January 17, 1925.
at 4:00 P. M. on
Present: Commissioners
City Clerk
City Manager
City Attorney
E. F. Housholder, Hayor
S. 0. Chase
Frank L. Miller
F. S. Lamson substituting for L. R. Philips
W. B. Williams
G. W. Spencer, Jr., substituting for
Geo. A. De0ottes.
said resolution being
0ommissioner Miller offered Resolution No. 366,
in words and figures as follows, to-wit:
RESOLUTION NO. 366
A RES0~T~ION PROVIDING FOR AN ISSUE OF BONDS
BY THE CITY OF SA~0RD, 17LORIDA, IN THE STyli OF
~261,000.00, THE PROCEEDS DERIVED FR0~! T~FJ~ SALE
T~REOF TO BE USED TO REFTJND AND PAY CE~TAIN
OBLIGATIONS OF THE CITY OF SANFORD, FLORIDA,
FOR THE PA~,iENT OF WHICH TEE CREDIT OF SAID
CITY IS PLEDGED, PRWSCRIBING T~E FORE A_VD q0N~
DITIONS OF SAID BONDS TO BE SO ISST~D ~ND PRO-
VIDING FOR A SINKING ~ FOR THE PAYMENT OF
THE PRINCIPAL AND INTEREST OF SAID BONDS.
WHEREAS, the City of Sanford, Florida has outstanding obligations in the
sum of ~261,822.41, for the payment of which the credit of said City is pledged, as shown
and disclosed in Official Document A-2, dated December 31, 1927, prepared by Hall and
Pentland, Certified Public Accountants, entitled: "Partial Refinancing Program", now on
file in the office of the City Clerk of the City of Sanford, Florida, and,
Whereas, all of said obligations itemized and shown in detail in said
Official Document A-2 are either past due, callable, or payable within less than three
months from this date, and,
WHEREAS, the City Commission of the City of Sanford, Florida deems it
expedient and to the best interest of the City of Sanford, Florida to issue bonds in the
sum of $261,000.00, the proceeds to be derived frcm the sale thereof to be used in funding
and paying, insofar as said proceeds may apply, the said obligations of the City of Sanford
Florida in the sum of ~261,8~2.41, for the payment of which the credit of the said City is
pledged, as shown and disclosed in detail in said Official Document A-2, prepared by
Hall and Pentland, Certified Public Accountants, under date of December 31, 1927, now on
file in the office of the City Glerk of the City of Sanford, Florida,, as aforesaid.
T~REFORE, BE IT RESOLVED That, under and by authority o2 an ~ct of the
Legislature of the State of Florida of 1927, entitled: "AN ACT to Authorize the Issuance
of Refunding Bonds by Counties, Cities, TOwns, and Other Municipal Corporations and Taxing
Districts, aB~ to ~rovide for Their Payment," duly approved by the Governor of the State
of Florida, on June 6, 1927, a bond issue in the sum of Two Hundred ~d Sixty-one Thousand
(~261,000.00) Dollars, for the purpose abowe stated and specifically set forth, be and
the same is hereby authorized; that said bonds shall be of the denomination of One Thousand
(~1000,00} Dollars each, bearing interest at a rate not exceeding six per centum per annum,
interest payable semi-annually on the 1st days of January and July, s~ d bonds to be dated
CITY COMMISSION, SANFORD, FLORIDA,
MINUTES
Adjourned I,~eeti~ - January 17,
1928 __
Bonds numbered from I to
Bonds numbered from ll to
Bonds n~nbered from £1 to
Bonds numbered from 31 te
Bonds numbered from 41 te
Bonds numbered from 51 to
Bonds numbered from 61 to
Bonds n~bered from 71 to
Bonds n~mbered from 81 to
Bonds numbered from 91 to
Bonds numbered from 101 to
Bonds numbered from lll to
Bonds n~nbered from 121 to
Bonds numbered from 131 to
Bonds numbered from 141 to
Bonds numbered from 151 to
Bonds numbered from 161 to
Bonds numbered from l?l to
Bonds numbered from l$1 to
Bonds numbered from 196 to
Bonds numbered from Ell to
Bonds numbered from 226 to
Bonds numbered from 241 to
10, inclusive, to mature Jan.
20 inclusive, to mature Jan. I
~O inclusive, to
40 inclusive, t o
80 inclusive, to
60 inclusive, to
~0 inclusive, to
80 inclusive, to
90 inclusive, to
100 inclusive, to
ll0 inclusive, to
1E0 inclusi~e, to
130 inclusive, to
l~0 inclusive, to
150 inclusive, to
160 inclusive to
l~0 inclusive to
180 inclusive to
~9~ inclusive to
~10 inclusive to
228 inclusive to
240 inclusive to
261 inclusive to
mature Jan. 1
m~ture Jan. 1
matume Jan. 1
mature Jan. 1
mature J~n. 1
mature Jan. 1
mature Jan. 1
mature Jan. 1
mature Jan. 1
mature Jan. 1
mature Jan. 1
mature Jan. 1
mature Jan. 1
mature Jan. 1
mature Jan. 1
mature Jan. 1
mature Jan. 1
mature Jan. 1
mature Jan. 1
mature Jan. 1
mature Jan. I
1, 1931.
1932.
1933
1934
1935
1938
1937
1938
1939
19&0
1941
19~2
1944.
1945.
1946.
19~8.
1949.
1950.
1951.
1952.
1953.
both principal and interest of said bonds to be payable at National Park Bank in %he City
of New York, State of New York, in lawful money of the ~ited States of America. Said
bonds shall be signed by the Mayor of the City of Sanford, Florida and by the Clerk of the
City of Sanford, Florida, and the official seal of the City of Sanford, ~'lorida, shall be
affixed thereto. T~e interest coupons to be attached to said bonds shall be signed with
the engraved or lithographed facsmile signatures of said Mayor and said Clerk: the said bonds
and coupons, with the necessary variations to indicate the different numbers and different
dates of maturity, shall be substantially in the following form, to-wit:
1WYMBER DOLLARS
UNITED STATES OF ~RICA 1000
STATE OF FLORIDA
C~JNTY OF S~INOLE
CITY OF SANFORD, FLORIDA
REFUNDING BOND
SERIES A-2
Florida,
of the State of Florida, for value received, acknowledges itself indebted and
promises to pay to the bearer hereof the sum of
ONE THOUSAND DOLLARS
in lawful money of the United States of .~nerica, on the 1st day of January A.D.
with interest thereon at the rate of per centum per annum, payable semi-
annually July 1st and January 1st of each year on presentation and surrender of
the interest coupons hereto annexed as they severally become due, both principal
and interest being payable at NATIONAL PARK BANK in the City of New York, State of
New York.
This bond is one of a series of 261 bonds aggregating Two Hundred and
Sixty-one Thousand (~261,000.00) Dollars, of like da~e and tenor, except as to
maturity and rate of interest, issued by the City of Sanford, Florida, for
E/VOW ALL ~,~N BY T~SE PRESES~S, That the City of Sanford,
a municipal corporation organized and existing under and in pursuance of the laws
19
CITY COMMISSION, SANFORD, FLORIDA,.
MINUTES
Adjourned l~ecting - January 17, 1928
19 28
Towns and other Municipal Corporations and Taxing Districts, m~d to Provide for Their
Payment," duly approved by the Governor of the State of Florida on June 6, 1927, and also
pursuant to certain orders and resolutions of the City Commission of the City of Sanford,
Florida duly had and adopted.
IT IS HEREBY CERTIFIED, RECITED AND DECLARED, Tha~ all acts, conditions
and things required by law to exist, happen and be performed, precedent to aud in the
issuance of this bond, have existed, have happened and have been performed in regular and
due time, form and manner, as required by law, and that the amount of this bond, together
with all other indebtedness of the City of Sanford, Florida does not exceed any limit,
prescribed by the Constitution and Statutes of the State of Florida, and that before the
issuance of this bond, provision has been made by resolution of the City Commission to
assess annually a tax upon all real and personal property, railroads, telegraph and tele-
phone lines owned or situated within the City of Sanford, Florida, to realize a sum suffi-
cient to pay the interest upon this bond as it may become due and to create a sinking fund
for the payment of the principal hereof at the maturity of the same; and that the issue
of bonds, of which this bond is a part, has been duly confirmed and validated by a decree
of the Circuit Court of the Twenty-third Judicial Circuit of the S~ate of ~'lcrida, in and
for Se~nole County, in a proceeding begun by the City of Sanford, Florida, a municipal
corporation, against the State of ?lorida, of which proceeding notice was duly and regularly
given to the State of Florida and to the public.
And for the payment of the principal and interest of this bond the full
faith and credit of the City of Sanford, Florida is hereby irrevocably pledged.
IN WITNESS V~EREOF, The City of Sanford, Florida, has caused this bond
to be signed by its Mayor and by the City Clerk, and its corporate seal to be affixed
hereto, and has further caused the interest coupons hereto attached to bear the lithographed
facsimile signatures of the said Mayor and said City Clerk~ and this bond to be dated the
1st day of January, A.D.1928
Hayor o~ ~ne City o~ ~an~ord, ~'lorida.
Attest:
city Ulerk.
(FO~,I OF IMT~REST COVPON)
NO ....... $
ON T~ FIRST DAY OF jT~y 19
JA~RY 1~
T~E CITY OF SA~TFORD, F~ORIDA
will pay the bearer
in lawful money of the United Stated of America at MATIONA~ PARK BANK, in
the City of New York, State of New York, being six months' interest then due
on its Refunding Bonds, Series A-2, dated January 1st, 1928, payable from a tax
to be assessed, levied and collected upon all taxable property within the bound-
aries of the said City of Sanford, Florida.
CITY COMMISSION. SANFORD, FLORIDA:
MINUTES
Ad.ice, meal ]deetin~ - January 17 ~
Twenty-third Judicial
on the day of
of
Validated and confirmed by a
Circuit of the State of Florida, in and for Seminole County,
A.D. 1928 and entered and recorded on the
A.D. 1928, in Chancery Order Book No. , on Page
the records of the Circuit Court of the Twenty-third Judicial Circuit of the
Florida, in and for Seminole County.
decree of the Circuit Court of the
rendered
day
of
State of
Clerk of the Circuit Court of the E3rd
Judicial Circuit of the State of Florida,
in and for Seminole County.
(SKID BONDS TO BE ENDORSED ON T~3E BACK AS FOLIOWS:)
CITY OF S&MFORD, FLORIDA
REF*~TDING BOND
SERIES A-2
$1000
Interest % per annum
Dated ~anuary 1st, 1928
Interest payable
Semi-annually on
January 1st and July 1st
Principal due
January 1st, 19
Both Principal and Interest
Payable at
National Park Bank
I~ew York, N. v.
BE IT FT~THER RESOLVED That for the purpose of providing
funds for the prompt payment of principal and interest of said bonds as the same become
due there shall be and there is hereby levied, assessed and ordered to be collected upon
all t~xable property within the boundaries of the City of Sanford, Florida, a direct
continuing annual tax during each year said bonds, ar any of them, are outstar~iing and
unpaid, sufficient to product in each year the interest on said bonds becoming due in said
year, and an amount sufficient to provide for a sinking fund to pay the principal of said
bonds as they severally mature, and said special tax, as and when collected, shall be
placed in said sinking fund and used exclusively for the payment of interest ar~ the redemption
of said bonds as they severally become due and payable and shall not be used for any
other purpose, and,
BE IT F~T~R RESOLVED That when said bonds are lawfully sold,
same shall thereupon be duly executed by said l~ayor and the said Clerk in the form and
manner hereinabove set forth, and said bonds when so executed shall thereupon be forth-
with delivered by said Mayor and said Clerk to E. F. Housholder, S. O. Chase and Frank
~. ~i!ler, composing the City Commission of the City of Sanford,Florida, ex-officio bond
trustees of the City of Sanford, Florida, or their successor or successors in office
CITY COMMISSION, SANFORD, FLORIDA.
MINUTES
A~J0urned Meeting - J~nuary 17,
BE IT FT~THER RESOLVED That this Resolution shall be and become
effective immediately from and after its passage and adoption.
Adopted this 17th day of January A.D. 1925.
E. F. ttousholder
S. O. Chase
Attest:
Frank L. Miller
As the oity Commission of the
City of Sanford, Mlorida.
L. R. Philips
ciSy Ulerk of the Oi~y of
Sanford, Florida.
Thereupon the roll was called upon the adoption of said resolution
and those voting upon said resolution were:
E. F. Uousholder - Aye
S. O. Chase - Aye
Frank L. Miller - Aye
The Clerk was ordered to advertise for sale on the 2nd day of February
A.D. 1928 at two o'clock P.E. 261 bonds of the issue of $261,000,00 authorized by
Resolution No. 366. The bonds to be offered for sale on the 2nd day of February A.D. 1928
to be the bonds described in the notice of sale of said bonds hereinafter set forth in
words and figures as follows:
NOTICE 0W SALE OF B0~S
Notice is hereby given that up to and until two o'clock P.~. on the
2nd d~y of February A. D. 1928, sealed proposals will be received by E. F. ~ousholder,
S. 0. Chase and Frank L. ~iller, as the City Commission of the City of Sanford, Florida,
an~ as ex-officio bond trustees of the City of Sanford, Florida, at the City Hall at
Sanford, Florida, for the purchase of refunding bonds of the City of Sar~or~, Florida to
the amount of Two Kundred and Sixty-one Thousand (~261,000.00) Dollars, authorized under
an act of the Legislature of the State of Florida, 19S?, entitled:
"AN ~CT to authorize the Issuance of Refunding Bonds by Counties, Cities,
Towm and Other Municipal Corporations and Taxing Districts and to Provide for Their
Payment",
duly approved by the Governor on the 6th day of June, A. D. 1927, to be issued pursuant
to a resolution of the City Commission of the City of Sanford, Florida, duly adopted.
Bidders are requested to name the rate of interest the bonds are to
bear in multiples of 1/4 of 1%, not exceeding six per centum per annum. Split interest
rate bids may be submitted. Award to be made at the lowest rate of interest and highest
price on such lowest rate.
The Two '~undred and Sixty-one Thousand (%261,000.00 Dollars refunding
CITY COMMISSION, SANFORD, FLORIDA,
MINUTES
~dJourned ~eeting - January l?,
19 28
One Thousand (~l,000.00) Dollars each, maturing ten bonds per year from January l, 1951 to
January 1st, 19~8, both dates inclusive, and fifteen bonds per year from January 1st, 19~9
to January 1st, 195~, both dates inclusive, ~d twenty-one bonds maturing January 1st, 1955.
The numbers of the bonds and the maturities thereof aggregating Two Hundred and Sixty-one
Thousand (.~61,000.00) Dollars to be offered for sale on the 2nd day of Tebruary, ~. D. 19E8~
being as follows, to-wit:
Bonds numbered fram I to
Bonds numbered from ll to
Bonds numbered from 21 to
~onds numbered from Z1 to
~onds numbered from A1 to
Bonds numbered from 51 to
Bonds numbered from 61 to
Bonds n~ubered from ?l to
Bonds numbered from 81 t~
~onds numbered from 91 to
~onds numbered fro~ 101 to
~onds nu~bered from lll to 1E0
Bonds numbered from l~l to 150
Bonds numbered from l~l to l~O
Bonds numbered from l~l to
Bonds n~bered from l~l to 160
Bonds numbered from 161 to l?0
Bonds numbered from l?l to 180
Bonds numbered from lB1 to
Bonds numbered from 196 to 210
Bonds numbered from Ell to
Bonds n~mbered from 226 to 2~0
Bonds numbered from ~l to
l0 inclusive
~0 inclusive
50 inclusive
40 inclusive
50 inclusive
60 inclusive
90 inclusive
80 inclusive
90 inclusive
100 inclusive
ll0 inclusive~
inclusive
inclusive~
inclusive
inclusive
inclusive
inclusive
inclusive
inclusive
inclusive
inclusive
to mature Jan. l, 1951.
to mature Jan.1, 19~S.
to mature Jam. 1
to mature Jan. 1
to mature Jan. 1
to mature Jan. 1
to mature Jan. 1
to mature Jan. 1
to mature Jan. 1
to mature Jan. 1
to mature Jan. 1,
to mature Jan. l,
to mature Jan.
to mature Jam.
to mature Jan.
to mature Jan.
to mature Jan.
to mature Jan.
to mature Jan.
to mature Jan.
195~.
1955
19~6
1957.
1958.
1959.
19~0.
1941.
19~.
l, 19~5.
l, 1944.
l, 1945.
l, 19~6.
l, 19~7.
l, 1948.
l, 19~9.
l, 19S0.
to mature Jan.1, 1951.
inclusive, to mature Jan. l, 1952.
inclusive, to mature Jan. l, 1955.
No bid at less than 9~% of par and accrued interest to date of
delivery will be considered, and the Commission reserves the right to reject any and all
bids if, i~ its opinion,
the price offered therefor is inadequate or the rate too high.
Said bonds constitute general obligations of the City of
full faith and credit of the City of Sanford, ?lorida, is irrevoc-
Sanford, Florida, and the
ably pledged for the payment of the principal and interest of said issue of bonds.
The bonds offered for sale are to be sold subject to the approv-
ing opinion of Caldwell &~aymond, Attorneys, New York City, to be furnished by the City of
Sanford, Florida.
All bids must be accompamied by a certified check for two per
cent of the amount of the bonds to be sold.
Proposals to be addressed to Eo F. Mousholder, S. 0. Chase and
Frank L. ~,~iller, as the City C~mmission of the City of Sanford, Florida, and as ex-officio
Bond Trustees of the City of Sanford, Florida, at Sanford, Florida.
CITY COMMISSION, SANFORD, FLORIDA.
MINUTES
Adjourned Meetin~ - January l?,
Sanford, Florida, and as ex-officio Bond Trustees of the City of Sanford, Florida, and
the seal of said City of this the 17th day of January, A. D. 1928.
E. F. Housholder
S. 0. Chase
Attest:
~. R. Philips
City Olerk.
Geo. A. DeCottes,
City Attorney.
Frank L. Miller
The City Attorney submitted Official Document A-2 prepared by Hall
and Pentland, City Auditors and same was ordered filed i~ the records of the City.
The City Manager, W. B. Williams, brought before the Commission the
proposition of repairing the fire station, stating that Mr. E. J. Houghton was prepared
to advise what repairs would be necessary. Hr. 5. J. Eoughton gave a detailed report
of the condition of the fire Station stating that the estimated cos~ of repairing s~e
from foundation to roof would be between .~9,000 and ~10,000.
Commissioner ~iller moved that ~r ~oughton be authorized to make up
a set
voting on said motion were:
E. F~
Frank L. ~iller
of specifications to be used i~ repairing the
fire station. ?pon roll call those
Housholder - Aye
Chase - Aye
- ~ve
It was moved by Commissioner Miller and seconded by Commissioner Chase
and unanimously adopted that the City Manager be and he is hereby authorized to negotiate
a lease of temporary Station for Fire Equipment and to proceed in conjunction with the
Fire Chief to temporarily locate the Fire department in other quarters immediately.
Commissioner Miller moved and it was seconded by Co~omissioner Chase and
unanimously adopted that the City Manager be and he is hereby instructed to have two docks
constructed on the northwest corner of the City Boat Basin.
There being no further business the meeting then adjourned to
meet, Thursday January 19th at $ P M 1928.
~,~ayor.
Attest:
City Clerk.