HomeMy WebLinkAbout061128-Special MeetingCITY COMMISSION, SANFORD, FLORIDA.,
MINUTES
Special Neeting June 11 at 9 O01ock A N
28
39t
at the
The City 0ommission of the City of Sanford, Florid~ met in Special Sessiom
0ity Hall in Sanford, Florida at 90'01ock A ~ June llth, 1928
Present: 0ommissioner E F Rousholder, Mayor.
S 0 Chase
" Frank L Miller.
0ity Attorney,
City Clerk, F
City Manager,
George A DeOottes
S Lamson
G H Cairns.
The Chairman sznnnunced that M~ E R Ashcraft, Receiver of the Seminole County
Bank, and his Attorney S R Dlghton, had requested a meeting with the Commission in order
to submit a proposition with respect to the threatened petition against the validation of
the $425,000.00 issue of bonds authorized by Resolution ~368 dated May 14, 1928, same bei~
in words and figures as follows:
"To The Hon. City Commission of the City of Sanford, Florida:
Gentlemen:
With reference to the petition in Intervention filed by me in the 0ircuit 0curt of
Seminole 0ounty on behalf of the Seminole County Bank as a taxpayer, I submit the following
proposition for your consideration:
I will withdraw the petition and my objections to your proposed refunding bond
issue, if you will first enter into a written agreement to arbitrate, within thirty days, with
em and the other holders of your obligation 'paper through assignment from the Seminole
County Bank, the question of your liability thereon to the Seminole County Bank and such
other holders, said arbitration to be made a rule of court from which there shall be no appeal;
In explam&tion of my position, I desire to point out that the affairs of the
Seminole County Bank can never be liquidated so long as the question of the liability of the
City to said Bank upon paper aggregating more than $?O0,O00.00 remains undetermined.
It is manifestly unfair to the depositors of the Seminole County Bank for the City
to arbitrarily write off these o~ligations which your books show you have done, before a
judicial determination is had of your liability thereon, and to delay such an adjudication'
while at the same time you continue to pay, as you have already paid, other similam creditors
of the City through a large increase in your bonded debt.
The essence of the m~tter is whether the City is indeed liable upon these obligatio~s.
It it is not, I have no desire to interfere with your refinancing plans. It it is, justice
to the depositors of the Seminole County Bank demands that provision should be m~de for the
prompt payment of these debts.
I am convinced that your approval of this proposition will result:
1 In clearing the financial atmosphere of this Community.
2. In settling many intricate and perplexing questions which in a large measure
are responsible for our present financial unrest.
3- In sooner completing the liquidation of the Seminole County Bank which is a
development greatly to be desired, not only for the best interest of the depositors but of the
community as a whole.
MINUTES
CItY COMMISSION, SANFORD, FLORIDA,_J~ m~.~.~ ._T,~_~_~ ~-! ~ ? .~. ~
~9 2~
5 In assisting you in refinancing the City upon a basle that will ineure
credit standing and materially reduce the tax burden upon the people.
6. In saving to the City and the depositors of the Bank many thousands of
in
its
dollars
attorney fees and other expenses which would otherwise be spent in protracted litigation.i
Your refusal to accept the aboveSuggestion can oly be construed as disregarding the rig~
rights of the depositors of the bank which I represent as Receiver, in which event I will
feel amply justified in proceeding with my petition in intervention to protect such depositorS,
amd I shall resist with all the power at my command your present policy of paying your other
creditors through large increases in your bonded debt to the exclusion of our claim.
Very truly yours,
E H Ashcraft
After a thorough discussion as to whether this matter of the legality of the so-
should be decided
called obligations/ by Arbitration, as suggested by Nr Ashcraft, or by the Courts, and it being
the sense of the Commission , that it is a matter for the Courts to decide, Commissioner
Niller made a motion which wes 'seconded by ~is~o~er ~h~e, that the proposition of Nr
Ashoraft be rejected, and the roll being called,
Commissioner Housholder Aye
Commissioner Chase Aye
Commissioner Miller Aye
June ll,
the vote stands as follows:
There being no further business,the meeting adjourned to meet at 2 O'Clock P M.
1928.
Attest:
City C~erk.
Mayor
CITY COMMISSION, SANFORD, FLORIDA,
MINUTES
Regular Meeting June llth at 2 P M
393
The City 0ommission of the City of Sanford Florida met at the 0ity Hall im
Sanford Florida at 2 O'Clock P M June ll, 1928.
Present: Commissioner E F Housholder, M~yor
" S 0 Chase
" Frank L Miller
0ity Attorney, George A DeOottes
City Manager, George H Cairns.
City Clerk, F 8 Lamson~
The Chairman stated that the first business to be taken u~ would be the
consideration of ~ny proposals submitted to purchase the $183,OOO.O0 Refunding Bonds of
an issue of $693,000.00 authorized by Resolution $358 adopted by the City Oommissiom of
the City of Sanford, Florida on the 30th day of November 1927 and $425,000.00 of an issue
of like amount authorized by Resolution $368 adopted by the City Commission of the City of
Sanford, Florida May 14, 1928.
Thereupon the Clerk announced that only one sealed bid had been received.
The Clerk was ordered to open and read said bid, the same being the bid of Spitzer, Rorick
& Company by Ray M Mann, agent , said bid offering to purchase the $183,0OO.00 Refundirg
Bondsoff the issue of $693,000.00 to bear interest at the rate of 5~% per centum per annum, at
and for the price of 95.5% of the par value, with accrued interest to date of delivery, said
bonds to be dated January l, 1928; delivery to be made on or before July 1st, 1928 or later
at the City's option, provided Spitzer, Rorick & Company are given the privilege to extend
the time of delivery or cancel the contract in event delivery cannot be made by July 1, 1928
provided, also that Spitzer, Rorick and Company wlll be given the option to purchase the
$425,000.00 RefundirE Bonds in the event the City will be in a position to deliver them.
After a thorough consideration, the bid of Spitzer, Rorick & Co. of Toledo
Ohio, was rejected and the Clerk was directed to forthwith return to said bidder the good
faith check submitted with said bid.
Minutes of Regular Meeting of May 14th and Regular meeting of May 28th 1928
read and approved.
Mr Clyde Byrd, Manager of the Sanford office of the Florida Power & Light Co. appea
ed with the request that an agreement be signed between the 0ity of Sanford and the Florida
Power & Light Co. whereby the Florida Light & Power Co will cut off for a period of one year
from May l, 1928 to April 30th, 1929, 194 street lighting lamps as designated in said agreement
and will at the end of that period without further notice,
agreement being in words and figures as follows:
City of 8anford
Sanford Florida.
Gentltemen:
RE:STREET LIGHTING AGREEMENT__~,
restore these lights to service, sai
May l, 1928.
In accordance with your request and for the purpose of relieving you of some of
your present financial burden, we hereby agree to cut off for a period of one year from may
1st, 1928 to April 30th, 1929, inclusive, one hundred and ninety-four (194) lights of the
"White Way" system on the Dusk to Midnight and Dusk to Dawn b~zrning schedule, more particularly
described and set forth as follows:
8 - 80 Op Over Head Dusk to Dawn Lamps
26- 80 OP White Way Dusk to Dawn ~amps
· $25.oo yr. $2oo.oo
· 2o.oo yr 5 9.oo
394
CITY COMMISSION, SANFORD, FLORIDA,
MINUTES
Regular Meeting june 11
for which we are now furnishing electric energy and service under the Street Lighting
Agreement between your City and this Company,s predecessor, the $outhe~nUtilities Company
dated July 13th 1920 and to reduce your monthly bills under said agreement proportionately
for s~id period of one year, it being understood and agreed that none of the terms and
obligations under said agreement, dated J~ly 13th , 1920 shall be suspended hereby, except
as provided herein.
As of May 1st, 1929, we will, without further notice restore to serviee and
thereafter bill you for the street lights cut out in accordance herewith.
If the foregoing is agreeable to you, kindly so indicate on the space provided
below on this original letter and on the inclosed copy, returning the copy to us for our
files.
We agree to the foregoing.
0ITY OF SANFORD, FLORIDA.
By E F Housholder
Mayor.
Attest:
F S Lsuns~
City Clerk.
Date: June 11, 1928.
Very truly yours,
FLORIDA POWER & LIGHT COMPANY
By .... Joe H Gill
Vice President & ~en'l Manager.
The Legal Department having assured the Commission that there was nothing
contained in said agreement detrimental to the interests of the City smd upon motion
duly adopted, E F Housholder, as Mayor, and F S Lamson as City Clerk were instructed to
execute the agreement as requested with the Florida Power & Light Co.
On motion duly adopted, it was ordered that the practice heretofore followed
of allowing two weeks annual vacation, with pay, for all salaried employees of the City
should be followed this year, with the proviso, that in no case shall any extra help be
employed to per mit vacations being taken.
Current invoices and payrolls as vouchered by the Accounting Department were sub-
mitted, examined, approved and the Clerk i~tructed to draw checks in payment thereof.
Bank Statements for the month of May 1928, in all accounts were submitted, ex-
amined and ordered filed.
Regular financial statement and statement of revenue and expenditures for the month of
M~y 1928 as prepared by the Accounting Department, submitted and approved.
Monthly report of City Manager G H Cairns submitted and accepted.
There being no further business
1928 at 2 O'Clock P M 1928
the meeting adjourned to meet again on June 15th.
Mayor.