Loading...
HomeMy WebLinkAbout021378-Regular SessionCity Commission, Sanford;:Ftorida,,,..~;~Febr, uary; 13, at 7'00 P.M. 19 7.8, The City Commission of the City of Sanford, Florida, met in Regular Session in Room 248 of the City Hall in the City of Sanford, Florida, at 7:00 o'clock P. M. on February 13, 1978. Present: Mayor-Commissioner Lee P. Moore Commissioner John G. Morris Commissioner Julian L. Stenstrom Commissioner Eddie O. Keith City Attorney C. ~ernon Mize, Jr. City Manager W. E..Knowles City Clerk H. N. Tamm,~.Jr. Absent: Commissioner A. A. McClanahan The meeting was called to order by the Chairman. On motion of Commissioner Morris, seconded by ~ommissioner Keith and carried, con- sideration of a Resolution for sale o~ $750,000 Industrial Development Revenue Bonds was removed from table. The City Attorney. reported that Robert Olive, Bond Attorney for Keller Industries, would not be present. He also stated the two local banks would act as trustees for fees and requirements as follows: Flagship Downtown: $500.00 per year, plus 50¢ for every draft written. Atlantic Bank of Sanford: $1,500.00 acceptance fee and $1,500 annual trustee paying fee. The City Manager recommended adoption of Resolution No. 1241. On motion of Commissioner Stenstrom, seconded by Commissioner Keith and carried, Resolution No. 1241 was adopted. Said resolution being in words and figures as follows: A RESOLUTION PROVIDING FOR THE ACQUISITION AND CONSTRUCTION BY THE CITY OF SANFORD OF A CAPITAL PROJECT CONSISTING OF AN IND'USTRIAL PLANT FOR THE. PROCESSING, REPROCESSING, SMELTING AND RECYCLING OF ALUMINUM TO PRODUCE ALUMINUM BILLET; PROVIDING FOR THE SALE OF SUCH MANUFACTURING PLANT TO KELLERINDUSTRIES, INC.; PROVIDING FOR THE ISSUANCE OF INDUSTRIAL DEVELOPMENT REVENUE BONDS OF THE CITY OF SANFORD, HAVING A PRINCIPAL AMOUNT OF NOT EXCEEDING $750,000; PROVIDING FOR THE RI'6HTS OF THE HOLDERS OF SUCH BONDS; PROVIDING FOR THE PAYMENT THEREOF; PROVIDING CERTAIN OTHER AGREEMENTS AND COVENANTS IN CONNECTION WITH THE ISSUANCE OF SUCH BONDS; AND PROVIDING AN EFFECTIVE DATE. BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF ~SANFORD, FLORIDA: SECTION 1. AUTHORITY. This resolution (hereinafter called the Resolution ) is adopted pursuant to the ,provisions of the Florida Industrial Development Financing Act, Chapter 159, Part II, Florida Statutes, and other applicable provisions of law. SECTION 2. DEFINITIONS. Unless the context otherwise requires, the terms defined in this Section shall have the meanings specified in this Section. Words importing singular number shall MIDSTATB LEGAL: .: ~ - :.. -- '~ "ACT" shall mean the Florida Industrial Development Financing Act, Chapter 159, Part II, Florida statutes. "ADDITIONAL PARITY OBLIGATIONS" shall mean additional bonds or obligations issued in compliance, with the terms, conditions and- limitations contained herein and which shall have an equal lien on the proceeds to be derived by the Issuer from the Installment Purchase Trust Agreement, as herein defined, and rank equally in all respects with the Bonds initially issued hereunder. "AGREEMENT" shall mean the Installment Purchase Trust Agree- ment, dated as of December 1, 1977, to be executed by and among the Issuer (hereinafter defined), the Company (hereinafter defined) and the Trustee (hereinafter defined). "BONDS" shall mean the City of Sanford, Florida, Industrial . Development Revenue Bonds, Series 1977 (Keller Industries, Inc. Project), herein authorized to be issued pursuant to the Act, together with any Additional Parity Obligations hereafter issued under the terms, conditions, and limications contained herein. "BOND FUND" shall mean the City of Sanford, Florida, Industrial Development Revenue Bonds, Series 1977 (Keller Industries, Inc. Project) Bond Fund as established by Section 13 of this Resolution (hereinafter defined). "COMPANY" shall mean Keller Industries, Inc., a corporation organized under the laws of the State of Florida, and any successors or assigns and any surviving, resulting or tmansferee corporation. "GUARANTY" shall mean the Guaranty between Keller Industries, Inc., as guarantor, and the Trustee~executed for the purpose of further securing payment of the Bonds, a copy of which is annexed hereto as Exhibit "B". "HOLDER OF THE BONDS" or "BONDHOLDERS" or any similar term shall mean any person who shall be the bearer or owner of any out- standing Bond or Bonds registered to bearer or not registered, or the registered owner of any such Bond or Bonds which shall at the time be registered other than to bearer. "ISSUER" shall mean the City of Sanford, Florida. ,, ,, PROCEEDS shall mean all moneys at any time paid to the Trustee under the Agreement, pursuant to Section 4.03 or any other section or provision thereof, except the funds required thereby to M I/N.U TES Cit~:.Commission, Sanford~ Florida ~ February 13, at 7:00 P. M. 19.78 MIDSTATE LEGAL SUPPLY COMPANY MINUTES City Commission, ,San~Ord~' Florida ~;' ... ~9~ru~r.Y 13, at 7: 00 P. M. 19 78 Agreement, all in the manner provided in the Agreement. "PROJECT" shall mean an industrial plant for the manufacture, processing, reprocessing, smelting and recycling of reprocessed aluminum to produce aluminum billet, equipment and land on which the plant is located. "RESERVE FUND" shall mean the City of Sanford, Florida, Industrial Development. Revenue Bonds, Series 1977 (Keller Industries, Inc. Project) Reserve Fund created by Section 13 of this Resolution (hereinafter defined). "RESOLUTION" shall mean this Re~olution of the Issuer. "TRUSTEE" shall mean , a banking and trust company having its principal office in the' City of SECTION 3.' FINDINGS. It is hereby ascertained, found, determined and declared by the City Commission of the City of Sanford, Florida, that: (A) The Issuer is authorized and empowered by the Act to enter into transactions such as that contemplated by the Agreement and to fully perform its obligations thereunder in order to promote the industrial economy of the State, increase opportunities for gainful employment and purchasing power, improve living conditions, and otherwise contribute to the prosperity and w~lfare of the State and its inhabitants. (B) The Project shall make a significant contribution to the enonomic growth of the City of Sanford in which the Issuer is located, shall provide gainful employment and shall serve a public purpose by advancing the economic prosperity and the general welfare of the State and its people. (C) Having due regard to the ratio of the Company's current assets to its curren.t liabilities, net worth,.earning trends, coverage of all fixed charges, the nature of-its business, and the industry in which it is involved, its~inhemant stability, and all other factors determinative~of the Company's-capabilities, ,~, financial amd~otherwise, of fulfilling its obligations consistently with the purposes of the Act, the-Company is~financially respon- sible and fully capable and:~willing, to,-fulfitl-its obligations under the Agreement, including the obligation to pay the install- ments upon the purchase price in the amounts and at the times M;IN UTES .City C.ommission;~,Satfford~ 'Florida., ~-. ,February 13, at ?: 00 P. M. MIDST~GAL 19. 78 willing and capable of fully performing a%t;~other obligations and responsibilities imposed upon it pursuant to the pr6visionS of the Agreement. (D) The Issuer is, able to cope satisfactorily with the impact of the Project and is capable of providing, or causing to be provid- ed when needed, all the necessary public facilities, utilities and services that will be necessary for the constmuction, operation, repair and maintenance of the Project and on account of any increase in population or other circumstances resulting by reason of the location of'the Project within the City of Sanford. (E) Adequate provision is made under the provisions of the Agreement for"tHe' operation, repair and maintenance-of 'the Project at the expense of the Company, and for the payment by the Company of the principal of the interest~dn fhe BO~ds herein authorized. (F) The Proceeds are not now pledged br 'encumber'ed in any manner. (G) The principal of the interest on the Bonds and all required Bond FUnd payments and Other payments shall be paYable solely from the Proceeds as herein provided. The Bonds shall nOt be deemed to constitUte 'a'debt, liability or Obligation of'the Issuer or of the state' of Florida or'of any'political subdivision, but shall be payable solely from the Proceeds as herein provided. (H) The Proceeds will be sufficient to pay all principal of and interest on the Bonds to be issued hereunder as the 'same become due, and to make ~:11 required Bond Fund'or ~other p~yments required by this Resolution. (I) The interest on the Bonds will'be'exempt from federal income taxation under existing laws of t~e'United S~tes. SECTION 4, AUTHORIZATION OF ACQUISITION AND CONSTRUCTION OF PROJECT. Thereis hereby authorized the purchase by the Issuer of the Project site and the construction of improvements to the Project pursuant to the provisions~ of the Agreement and in substantial accordance with the plans and specifications presently on file with the Issuer. The cost of Such Project shall include all costs and expenses of every nature incurred in the purchase and completion of the Project, as provided in Section 3.03 of the Agreement. SECTION 5. THIS RESOLUTION TO CONSTITUTE CONTRACT. In contract between the Issuer and such Bondholders. The covenants and agreements herein set forth to be performed by the Issuer shall be for the equal benefit, protection and security of the holders of any and all of the Bonds and coupons attached thereto, all of which shall be of equal rank and without preference, priority or distinction of any of the Bon~s or coupons over any others thereof, except as expressly provided therein and herein. SECTION 6. AUTHORIZATION OF BONDS. Subject and pursuant to the provisions hereof, Bonds of the Issuer to be known as "City of Sanford, Florida, Industrial Development Revenue Bonds, Series 1977 (Keller Industries, Inc. Project)," herein sometimm~s collectively referred to as the "Bonds, are authorized, to be issued in the aggregate principal amount of not exceeding Seven Hundred Fifty Thousand and No/.100 ($750,000) Dollars. SECTION 7. DESCRIPTION OF BONDS. T~he Bonds shall be dated December 1, 1977, shall be numbered consecutively from one upward, shall be in the denomination of $5,000 each, or multiples thereof, shall bear interest~payable semi-annually on June 1 and December 1 of each year at rates not greater than seven and one-half percent (7-1/2%) per annum t~o be established_by-the Issuer. by resolution adopted prior .to delivery of the Bonds., and. shall mature on December 1 in the years and amounts as follows: Year Amount 1978 $30,000 1979 35,000 1980 35,000 1981 40,OOO 1982 40,000 1983 45,000 1984 45~000 1985 50,000 Year Amount 1986 1987 1988. 1989 1990 1991 · 1992 $50,000 55,000 55,000 60,000 65,000 70,000 75,000 Such Bonds shall be issued in coupon form, registrable as to principal only or as to both principal and interest. The principal of and interest on the Bonds shall be payable at the principal office of the Trustee in the City of Payment of the interest on Bonds registered as to both principal and interest shall be made by the Trustee on each interest payment date to the person appearing as the registered owner thereof on the registra- tion books of the°Issuer at the office of the Trustee, hereinafter provided for, by check or draft mailed to each such registered owner at his address as it appears on such registration books. Payment of the principal of all Bonds shall be made upon the due and payable.: ,Payment of't'he interest,on all Bonds paya~:le to bearer and Bonds registered as to principal only shall be made upon the presentation:and surrender~of,the co,upons representing such interest as the same respectively b. ecome,dge and payable.. All the principal of and interes~t on the,Bonds sh. all,be payable'in such coin or currency of the United States of America whichon the respective date's of payment thereof shall be'legal tender for the~payment of public and private debts, SECTION 8. EXECUTION AND AUTHENTICATI:ONOF BONDS~AND COUPONS. The Bonds shall be executed in the name of the Issuer by its Mayor- Commissioner and countersigned and attested by its. City Clerk,'.as provided by law, and its'corporate:seal or a facsimile thereof shall be affiXed thereto:or-reproduced thereon., The facsimile signature of said officers may be imprinted or reproduced on the~ Bonds, provided~hat at least.one signature required to.be placed thereon shall be ~nually subscribed~ In=case .any~:officer whose signature shalt appear on any Bonds:shall cease to be such officer before the delivery of such Bonds, such signature or facsimile shall nevertheless be valid and suffici~ent for"all purposes the , same as if he had remained in office until after such delivery. Any Bonds may be signed and sealed on behalf of the Issuer by such person who at the actual time of the'~xecution of such Bonds shall hold the proper office~with the Issuer, and any Bond so signed' and sealed shall be valid and enforceable, notwithstanding that at the date of delivery of Such Bonds such person does not hold such office or is not so authoriZed. The coupons attached to the Bonds shall be authenticated with the facsimile signatures of any present or future Mayor- Commissioner and City Clerk, and the validation certificate on the Bonds shall be executed with the facsimile signature of the Mayor- Commissioner. The Issuer may adopt the use for such purposes the facsimile signatures ~'f any persons who shall have been such officers a~ any time on or after the date of the Bonds notwith- standing that they may have ceased to be such officers at the time such BOnds shall be actually delivered. Only such of the Bonds as shall have endorsed thereon a certificate of authentication substantially in the form hereinafter set forth, duly executed by the Trustee, shall be entitled to any "1.9. -78 appertaining thereto.shall be'valid~or obligatory for any purpose unless and until such certificate of authentication shall have been dUly executed by the Trustee, and such certificate of the Tmustee upon any Bond~shall:'be conclusive-evidence that sUch. Bond'has been duly authenticated and delivered pursuant to this Resolution. The Trustee's certificate of authentication on any Bond shall~be deemed to have been duly~executed ,if s~gned by~an.'~uthorized officer of the Trustee, but it~'shall not be'necessary tha,t:'~:the same' officer Sign~-. the certificate of authentication on all of' the'Bonds~ The Bonds shall be ex.ecuted:substantially in the form and manner herein provided and shall he'.deposited with the Trustee for authentication, but prior'to or simitaneously!iwith the ,. ~ authentication~and'delivery of the Bonds by the Trustee~there shall have been filed With the Truatee the~following: : (A) A copy, certified by the:City C1,.erk of the Issuer, of this Resolution, evidencing that the same has been duly adopted,by the I~.suer; (B) A copy, certified by the City Clerk of the Issuer,-of the resolution duly adopted by the~Issuer awarding the Bonds to the purchaser or purchasers thereof, sPeCifying the interest-cate or rates to be borne~by the Bonds and'directing the authentication and delivery of the'Bonds to or upon the order of the said purchaser or purchasers upon payment of the purchase price therein'set.forth; (C) An execut.ed counterpart of~'the~Agreement; (D) An opinion of counsel for 'the Issuer stating.that the signer is of the opinion that the execution and delivery~of the Agreement has been duly authorized by the Issuer, t.hat the Agree- ment is in'the form so~authorized'.and has been:duly executed by the Issuer and that, assuming proper authorization and~execution :of. the Agreement by the Trustee'and by the Company, the Agreement:is:valid and binding in:accordance~with('its:terms; ~. ' .... ,~:~ ~ (E) An opinion of':~counsel~for~the~Company stating that the signer is'of the opinion that~the execution and delivery:of the' Agreement has-been duly authorized~by.the:Company, that. the ~' Agreement is~in~the form so authorized and has been duly executed by the Company and that~assuming:proper-authorization:and~execution ~ of the Agreement by the Issuer and the Trustee, the Agreement is valid and binding in accordance with its terms-(subject as to .... .~ City Coramissionf San~o~d; Ftorida~. .~ ~: .... ''~: February. : . 13., at 7: 00 P.M. 19 78 MiDSTATE LEGA-L-~-d-oMPANY ':. ' '.~---~ ' , :i City Commisaion,. sanford;' FlOrida· February 13, at 7: 00 P.M. ~ 19_7.8 (F) An'executed copy'oftthe 'opinion~Of the law firm:of. Bryant, Franson, Miller;' Olive:,:: Brant'and:.Ryan,~TatlahaSsee, ~Florida; approving, 'as~:Bond COunsel,' the.validity and legality'of:all the. Bonds then.being:deliVered, which:~shalI~be,:sPeeifie, final:and- unqualified. :'- ' When~'t-he:documents men.tioned'in~clauses (A)' to'(F),::inClusive, next above, .sha'tl~ havelbeen, filed:with the-Trustee, the.Trustee. shall authemfiicate/~he Bonds and deliver the-same to the.purchaser or purchasers named in..theresolution-ment±oned.in_clause (B). above, but only upon payment :to the TrUsted of the purchase,price of the Bonds. The Trustee'shall.'beoentitled"to rely~upOn-said resolution as to the amount of:~such:~purchase'price, :~ : SECTION 9; NEGOTIABILITYAND REGISTRATION. Title.to. any.. Bond, unless such Bond is registered in the manner hereinafter .... provided, and title't'o any interest coupon, unless the'_Bond to . which it is 'attached i~.:'regiStered as 'to both principal'and interest, shall pass by delivery in the same manner as a negotiable instrument 'payable to'bearer,' The Trugtee~i's hereby, appointed'as Bond Registrar and as. such shall keep books for the registration and for the transfer!of :Bonds-as provided.herein~ ~At'the:optiom of the bearer; any'Bond may. be::registered"as'.to principal alone'or as to both principal~and interest on'such books upon p~esentation thereof to the':.BOnd Registrar which shall'make notation:of such. registration thereon. Any such registered Bond..may"therea~ter be transferred only upon an assignment duly'eXecuted-'by the.registered owner or his att0rney or legal.representative in such'form as'shall be satisfaceory .to .the~Registra.r, such'~trans~er, to be made-on such books and endors.ed'o~ the Bond by the Bond~',Regist~'ar.: Such!transfer may be to bearer'and thereby transferability by delivery shall be. restored, subject,' however.,.to successive.registration-and transfers as before. The principal of-any~Bond registered as principal alone and the principal and:'intereSt: of any'Bond~ registered as to:both'prinCiPal, and inter.est shall be~payable-only upon the order of.:'the:registered owner or::.hiS legal representative, but the coupons appertaining to. any:Bond register~ed as to principal alone shall remain payable:to-bearer:~notwithstanding:such~ registration. , -: . : ~, Neither the Issuer. nor the Trustee shall be required to make ,,: :: M"I,N U T ES ' ' Cit~' commission, .Sanford~/.Flo~da .:..:.F.ep.r. uar~:_13, at 7: oo P.M. 19 78 after such Bonds have been selected for redemption. As to any registered Bond, the person ~n'whose.nameTthe same'- shall be registered shall be deemed and regarded as the absolute owner thereof for all purposes, and payment of, or on.account of, the principal of any such Bond (and of the interest on .any Bond registered as to both principal and.interest) shall be made only to or upon the'order of the registered owner thereof or his legal representative All such payments shall be valid and effectual to satisfy and discharge, the'liability,upon such Bond, including the interest thereon, to the extent of t.he sum or sums so paid The Issuer and the Trustee amy deem and treat the bearer of any Bond which shall not at the time be registered and the bearer of any coupon appertaining to any Bond (unless the Bond is_registered as to principal and interest) as the-absolute owner of suchfBond or coupon, as the case may be, for the.purpose, of receiving, payment thereof and for all other purposes whatsoever. Neither the Issuer nor the Trustee shall~be affected by.any'notice~to the contrary. Any person.'in~poss~ssion of any-Bond, unless such Bond shall be registered, or of any coupon appertaining to any Bond-(unless the Bond is registered:as to principal and interest),..regardless of the manner in whihh he shall have acquired possession,.is hereby authorized to represent himself as~the absolute owner of such Bond or coupon, as the ease maylbe, and is~hereby grantedpower,to transfer absolute title:thereto by delivery thereof to a bona-fide purchaser for~value (present or antecedent) without notice of prior defenses or equities or claims in ownership enforceable against his transferor or any person in the chain of title and before the maturity of such Bond. Any regiStered owner of any Bond.is.hereby granted power to transfer absolute.title thereto by assignment thereof to a bona fide purchaser for value,:(present or antecedent) without notice of, prior-.defenses~ or equities or,claims o'~ o~n~rship enforceable against his assignor-.or any person in.the chaim o,f :-. title and before the maturity, of such~Bon&. Every prior'ho~lder or owner of any Bond or of any coupons shall be deemed to have:waived and renounced all o£~his, equities~or'rights therein .in favor of every such bona'fide purchaser,,~'and every such bona fide purchaser shall acquire absolute title thereto and'to all~.~ights represented thereby M I N U T ES ..February 13, at 7:00 P. M. ._, 19,78 SECTION 10. BONDS MUTiLATED;DES'TROY~D%-'S~OBMN'~OR,~BOS~ · ~n ~'~ case any Bond-shall~become'mutilated;"or ~ destroyed; s~ole'n or lost, the Issuer may,'in its discretion, issue and deliver~a new.- Bond with all unmatured coupons attached, if any, of like tenor as the Bond and'attached coupons, if~any, so mutilated~ destroyed; stolen or lost, ifi-'exchange and substi~uiion for such mntilated~ Bond, upon surrender~and cancellation of~such mut~lated"Bond;and attached C~uPons] i{ a~Y, 0r~in tied~Of and.in~substituti0n for the Bond and attached:'c6~p0ns,'if any, destroyed, si°len or:.lost~and upon the holder f~nishing the Issuer pro6f of his oWnership thereof and~saiiSfac6ory'indemnity'and'cOmplying with-such other reasonable regulations and<~conditionS'as the Issuer'may'prescribe and paying<suCh eXpenses as'~'the IsSuer-may'~incur. All'Bonds'and coupons so Surrendered shall~be d~iivered to and canceled'by the Trustee. If any:such BOndsor.coupons shall have matured or be about to mahnre, instead of issuing a-substitute BondOr~houpo~, the Issuer may.di~eet~'the<'.Trus~ee to<pay-the same; upofi~being,'' '.-- indemnified as' afor&said; and'if sUch:Bond or coUpon be lost,- · stolen or destroyed:~ withoUt. Surrender'thereof. -' ~- ' Any such duplicate Bond and conp6ns'issued Pursuant'to this Section shall donstitu~e original,'.additional contractual' ~ obligations-~0n~the part of the issUer"whether:or not:the lost,' ' stolen or deStroyedBonSs~or'~coupons'~be;ai-'any!time found by anyone, and such duplicate Bonds and coupons;Shall be~entitled'to equal~and proportionaie benefits~and rights as to~-lien' on and source~and security for'Paymeht~from'theProdeeds',.as'hereinaft~r Pledged'; to the same extent' as~all~'other BOnds ~nd~coupons issued hereunder. SECTION 11.~ PRovISIONS FOR~REDEMPTt0N. Bonds matnring on December 1, 1978,'through DeCember 1~ 1987, shall not be callable for redemptioff~ 'Bonds'ma~uring on or'a'ft~r':D~e~mB~e redeemed at 103% of par~plus accr~edinterest on any inter~st pay- ment date on or after December 1, 1987; provided, how&ver, ~hat Bonds maturing on December 1, 1992, may be redeemed at par plus accmned interest'on'December 19.91.' Notice Of any ~ed&mption shall,~at~least thirty~(30) days prior to 'the re'demption d~te,~be (i) published in'a finan'cial.' journal p~blished .in the Bor0Ugh~of'.Manhattan, CitY and State of' New York, (ii) filed with the said Trustee, and (iii) mR,.led, ..................... City.:Commission~:Saaford~,.Florids~:~:. ~;F~ebruary 13, at 7:00 P. M, publication of notic.e of. redemption m my be, dispensed with. All Bonds df.coupons surrendered for the purpose of. redemption pursuant to this Section shall be canceled,b~.the,%r~st~ ~d.~no..... Bond or coupon shall be issued in lieu thereof, except as expressly permitted by any. provisions hereof. All Bonds, including appropriate coupons, if any, purchased by the Trustee or delivered to the Trustee to be canceled pursuant to any provisions hereof shall forthwith be canceled by it. The Trustee shall deliver such canceled Bonds or coupons t.o the C. ompa~y, .taking receipt therefor, or the Trustee may, destroy such canceled. Bonds or coupons and deliver a~certificate ,o£ destruction thereof to the Company.. SECTION 12. FORM OF BONDS AND, COUPONS. The Bonds, the interest coupons to be attached thereto, the certificate of authentication by, the Trustee to. be endorsed on all Bonds and, the certificate of validation shall be in substantially %he following forms, with such omissions., insertions and variations as may be necessary and desirable and authorized or permitted h~eby or by any subsequent resolution adopted prior to the issuance the~eof: No. SS., 000 UNITED STATES OF AMERICA STATE OF FLORIDA COUNTY'OF SEMINOLE CITY"OF'SANFORD, FLORIDA INDUSTRIAL DEVELOPMENT REVENUE BOND, SERIES.~977. (KELLER INDUSTRIES, INC. PROJECT) KNOW ALL MEN BY THESE PRESENTS, that the City of Sanford, Florida (h~meinafter called the "Issuer','), for value recaived, to the registered holder~as hmmein provided, on the first-day of ., 19 , solely from the special funds hereinafter mentioned, the principal sum of FIVE THOUSAND DOLLARS and to pay solely from such special funds, interest thereon from the date hereof at-the rate of percent (. %) per annum until payment of the principal sum, such interest to the matarity hereof being payable s.emi~.annually on the first day of June and the first day of December in each year upon the presentation and surrender of the annexed coupons as theM severally fall due. Both principal of ang~interest on this Bond are payable in lawful money of the United States of America at the principal office, o.f the Trustee hereinafter, mentioned, in ~he £ity~ 294 M!'!I N U T E S - · City/~commission, ?Sanford~ Florida. ~, February 13, at 7: 00 P. M. 19 78 This Bond is one of an aUthorized"'issue 'of Bonds of the Issuer in the aggregate~'principal amount bf $750']000-issued tO~,~finance, the cost of the acquisition and'constructi°n of improvements to an~ industrial plant for the manufacturing, Processing, reprocessing, smelting and recycling o~,"processed aluminum to produC~t,~iuminum billet, equipment-and 'land on Which the'plant is'iocated (hereinafter cal'led~ ~he~"Pr'oject') , 'such~'l~roject and th~.. Issuer" s' rights, title and interests thecein to be sold by"~the Issuer'to Keller Industries, Inc., a ~Drporati;on organized u~der end'S.existing by virtu~ of ~he lawS"of the State of Flbrida: (hereinafter called the "Company"). '.The iSsuance of the Bon~s an'd,.the constrUction'and sale of the Project is' under the authority of and in full compliance with the ConstitutiOn ~and statutes of the'State of Florida,'inclUd- lng particularly Chapter 159,' Part'~II, Florida Statutes, and other applicable provisions of law, and a resolution d~lY adopted by the Issuer on , 1978 (here'inafter called 'the "Resolution""), and is subject to ail the ~erms and conditions ~f such Resolution. ' ~'' ..... The Issuer shall not be obligated to pay this Bond or .the. interest hereon except from the revenueS and proceeds pledged therefor and herein called the speCial funds, and neither the faith and credit nor the taxing power of the Issuer or of the State of Florida or of any political subdivision thereof is pledged to the payment of the principal of or the interest on this Bond~ Under the cirCUmstahces pr°vided:%~ Sections 6.05, '6.O6~ and 7.04 of the Installment Purchase Trust Agreement hereinRfter mentioned, all of the Bonds of the"Issu'er of which this Bond is one are callable prior to their respective stated dates of. matUrity at par plus accrued interest and' the premiums and other sums computed as provided in such Sections. ExcePt'as provided in Said SectiOns 6.05, 6.06 and-7.04 of the Installment Purchase Trust Agreement, the Bonds maturing on-December 1, 1978, through December 1,.1~], ...... shall not be callable for redemption. Bonds maturing~on or :after December 1, 1988~"maY be redeemed ~t 'i03% of par plus a~'crued interest on any interest-payment date ~on or after DeCember 1; 1987; provided, however,-theft Bonds maturing on'DeCember 1, 1992, may'be redeemed at par plus'accrued interest on December 1,.1991. Notice of such redemption shall be given in the-manner ' : 'M I N U T E S Cit~ Commission~;~,Sanford~ Florida~,:,~.~Fe,bruar~i¥;' t3., at 7: 00 P. M. MIDSTATE LEGAL SUPPLY COMPANY ~;'~ :;'t,; . ;~ ' ~ 19 78 The Issuer has mntered into an Installment Purchase Trust Agreement dated as of December 1, 1977 (.hereinafter called the "Agreement"), with the Company and , a banking and trust company having-itS principal office in the City of (hereinafter called the ~ "Trustee"), under the provisions of which the Company is purchasing the Issuer's rights, title' and interest in-the Project through pay- ments of installments upon the purchase price in amounts sufficient to pay the principal of, premium, if any, and interest on the Bonds of the issue of which this Bond is one as the same shall become due and payable, which instaltment~payments constitute the special funds herein mentioned. The Agreement-further obligates~the Company to pay-the Cost of maintaining the Project in good repair and keeping the same properly insured. The Agreement--provides that such payments of the installments upon the purchase price shall.be paid to the Trustee and deposited to the credit of a special fund which is pledged to and charged with the payment of the principal of, premium, if any, and interest on all of the Bonds of the issue of which this Bond is one. The Agreement provides that the Company's obligation to make such payments of the installments upon the purchase price and to perform and observe all other agreements on its part contained therein shall be absolute and unconditional and shall not be subject to diminution by set-off, counterclaim, abatement or otherwise. The Issuer reserves the right to issue additional Bonds payable on a parity with the Bonds of the issue of which this Bond is one, subject to the conditions and in the manner provided in the Resolution. It is hereby certified and recited that all acts, conditions and things required to exist, to happen and to be performed pre- cedent to and in the issuance of this Bond exist, have happendd and have been performed in regular and due form and time as required by the laws and Constitution of the State of Florida applicable there- to, and that the issuance of the Bonds of this issue does not violate any constitutional or statutory limitations or provisions. This Bond and the coupons appertaining thereto shall have and are hereby declared to have all the qualities and incidents, including negotiability, of investment securities under the Uniform MINU.TES .... Ci~ Comm~a~ioa~; Sanfo~d;..F10~da- ~,, '. ~ebruary 13, at 7: 00 P. M. MIDSTATE LEGAL SUPPLY COMPANY 19, 78 This Bond may be registered as to principal only.or as to both principal and intereSt in .aCcordance with the provisions endorsed hereon. This Bond shall not be valid or become obligatory~-for any purpose or be entitled to any benefit or security under the Resolu- tion until it shall have been authenticaged by the execution~by the Trustee of the certificate of authentication endorsed hereon. IN WITNESS WHEREOF, the City of:~Sanford,.~Florida, has,issued this Bond and has caused the same to be'signed by its'~Mayor, Commissioner and-attested~'by-its City-Clerk, either manually or~ with their facsimile signatures, but with the manual~signature of one of such officers, and its corporate seal ora facsimile thereof to be affixed, impressed, imprinted, lithographed or reproduced hereon, and the'.interest coupons heret° attached to be executed with the facsimile signatures of such~"officers all as of~the lst'day of December, 1977f (SEAn) ATTEST: City Clerk CITY OF SANFORD, FLORIDA By Mayor-Commissioner FORM OF COUPON No. $ Unless the Bond to which this coupon is attached is callable and shall have been previously duly called for prior redemption and payment thereof duly made or provided for, on the day of , 19 , the City of Sanford, Florida, will pay to the bearer (or, if the Bond be registered, as to principal and interest, to the registered holder) at the principal office of , Trustee, in the City of from the special funds described in the Bond to which this coupon is attached, the amount shown hereon in lawful money of the United States of America, upon presentation and surrender of this coupon, being six m~bnths' interest then due on its City of Sanford, Florida, Industrial Development Revenue Bond ' i M i';I N U T E S · ~; Gi.ty.;Commission,~.San£ord;.Fl'orida,,~,:.,. ~E~b~.u.a,.r.y~ 13, at 7: 00 P.M. 1978 -M-T~-T-A'~ LEGAL sUpPLY C~IPANy ~ ~-~-; :~. '~ ~ -; ~; CITY OF SANFORD,' FLORIDA ATTEST: Mayor-Commissioner City Clerk PROVISIONS .FOR REGISTRATION This Bond may be registered as to principal only ar as to principal and interest in the name of the holder on the books to be kept by the Trustee as Bond Registrar,_such registration being noted hereon by such Bond Registrar in the registration blank below, after which no transfer shall be valid unless made bY written assignment on said books by the registered holder or attorney duly authorized and similarly noted in the registration blank below, but' it'may.be discharged '~rom registration by being transferred to bearer, after which, it shall be transferable by delivery, but it may be again'registered as.,be~ore...:~Such registration, if as to principal only, .shall not restrain ;the. negotiability of the coupons by delivery,~'but the coupons may be surrendered with the interest made payabl~ only to theregistered holder, in which e~nt. the Bond Registrar shall note in. the. registration blank below that this ~Bond is registered, as to interest as well. as principal; and thereafter the interest will be remitted by mail to the registered holder. At the request of. the holder of this Bond, .when the same.has 'been converted into a Bond registered as. to ,both principal and. interest, it..may, .upon presentation thereof to the Bond Registrarf'-be reconverted in~ coupon Bond and:;again c~nverted into ~a Bond r~egistered, as. to both principal and interest as hereinabove.,provided. ~Upon reconversion of this Bond, when..registered as to principal andinterest,.,~into a coupon Bond, coupons representing,the interest to ac. crue.6pon, the · Bond to date,of; maturity,.shall be.:attached.hereto and there shall be noted in the registration b!ank, below whether, this Bond ~is ~ registered as .~to principal, only or payable to bearer. DATE OF IN WHOSE NAME MANNER OF., SIGNATURE REGISTRATION REGISTERED REGISTRATION BOND REGISTRAR :? 'M'I,'N U T E S · · ' .... City:' Commission; Sanford; 'Florida,': ::' February 13 _~ at 7: 00 P.M. .19 78 MIDSTATE LEGAL SUPPLY COMPANY' · ~- CERTIFICATE OF' AUTHENTICATION This Bond is one of the Bonds of the series described therein and issued under the provisions of the within mentioned Resolution. Trustee By ....... Its. VALIDATION CERTIFICATE This Bond is one of a series of Bonds which were validated by judgment of the Circuit Court ~or Seminole County, Florida, rendered on , 1978. CITY OF SANFORD, FLORIDA Mayor-COmmissioner SECTION 13. APPLICATION OF BOND PROCEEDS. All moneys recieved from the sale of the Bonds shall be deposited by the Issuer in trust in a special account with the Trustee, to be held and administered bythe Trust~ee'-as follows: ~' (A) Accrued knte=est .shall be deposited into a special fund hereby created, established and designated as the "CifY of-Sanford, Florida, Industrial Development Revenue Bonds, Series 1977 (Keller Industries, Inc". Project) Bond Fund"'(hereinafter called the "Bond Fund"), to be Held and administered~by~the Trustee. (B) All engineering'fees, legal fees and all other 'similar costs incurred in connection with theinitiation of the Project:.and the authorization and issuance of the 'Bonds shall be paid forthwith by the Trustee to those who shall be entitled to receive-the same. (C) An amount of money equal to the greatest amount of principal and interest coming due in any sUcCeeding Bond year shall be deposited .into a .special-fund hereby created,-established and designated as the'"city of .Sanford, Florida% Ind~strial~'D~vel0pment· Revenue Bonds, Series ~l~977~.(Keller. Industries,..~InC. ~proj.ect): Reserve Fund" (hereinafter call. ed .the.~eserve Fund") to be held and administered by the Trustee. (D) The balance of the moneys received from the sale of the Bonds shall be paid into a special fund hereby created, established and designated as the "Citv of Sanford. Florida. Industrial - M:IN UTES City ComrnissionFSanfor~ Florida. ::'... i February 13; at 7. o0 P. M. MIDSTATE LEGAL SUPPLY COMPANY 19_ZE_ 299 "Construction and Acquisition Fund"),.to be held and administered by the Trustee. The moneys in the Construction and Acquisition Fund shall be held in trust by the Trustee.and, pending applicationthereof to the payment' of the cost of the Project~ shall be subject to a lien on and charge in favor of the holders of the Bonds and shall be held for the further security of such holders .until paid out as herein provided. Ail transfers or payments from the Construction and Acquisition Fund shall be made only in the .manner provided in the Agreement or in this subsec~tion. - ~- The Company shalt~ approve and~direct 6he payment.of all amounts due and owing on account of acquisition of the Project and subsequent construction costs of modification and additions to .the Project and, by w~itten order submitted by the Company.from~tim~to time during~the course~of construction~and signed by the President or a Vice President directing the Trustee to make such payments, and each such ~order shall state with respect to such payments the following: (1) the item number of the payment; (2) the name of the person, firm or corporation to whom the payment is due; (3) the amount to be paid; (4) that an obligation in the stated amount and description has been incurred by the Company and that each item thereof is a proper and reasonable charg~ against the Construction and Acquisition Fund, that such amount has not theretofore,been~ paid; and that such expenditure is for land or improvements thereto or property of a character subject to the allowance for depreciation'under Section 167-of'the Internal Revenue Code. (5) that there has not been filed with or served upon the Company any notice of any, lien-, ¢laim~of:.lien~ or attachment affecting the right to receive~payment of any of:.the moneys~payable to the person, firm~or corporation named~in such order.which-has not been released or will..not be release~ simultaneously with-the, pay,~ ment of such obligation~ or for whieh adequate pr~vision--for-pay- ment or other disposition has not been made pursuant to law .and, in the event any assignment of the right to receive payments has been .'M I N U T E S ~it'y,.Commission,: Sanford; Florida:.,:~:~ February 13, at 7: 00 P. M. . 19.78 assignee the'r'eof.~-as sh:Own 'by'the r.ec~ords, of"the :Company Each such order shall be accompanied by a certificate signed by a consulting architect.~.or engineer approved by the Trustee" (hereinafter called the "Consultant'") certifyi'ng~'that an'obligation in the sta:ted amount bas been incurred by the Company, and:that each item thereof is a proper charge and in a ~reasonable amount against the Construction and Acquisition Fund;and has' not been 'th-eret'ofore paid, and that, insofar as any such obligation was incurred for work, materials, equipment or supplies, such work was actually performed, or such materials, equipment or. supplies were actually installed in futherance of the construction of the Project. Each order for the payment of any. part of the purchase price of real estate shall be accompanied by an opinion of counsel for hhe Company approving'the title to the real estate or'a policy or binder for title insurance satisfactory to the~'TrUstee Upon receipt of any such order and hccompanying certificates, and upon inspection of the Project by'the Trustee, the Trustee shall pay s-~ch obligation, if justified, from the ConStruction and Acquisition Fund. If prior to payment of any item in an order the. Company sho61d for any reason desire not to pay such item, the Company shall give nOtice of such'decision to th~ Trustee. In making any disbursement the Trustee shall pay each such obligation or deliver to the Company a check or draft"for the payment thereof payable to the ord~r:of the"payee to whom' payment" i.s due, as set forth in the order :of.the Company directing such disbursement. Any moneysr.'On~depo~i:t in-the COnstruction~and~'ACquisit~on~Fund which, in the opin'ion o'f the Trustee ac:ting upon the recommenda- tions of the COnsultant;-are not immediately necessary'to pay the cost of the Project or a portion thereof:shall be invested-in the same manner as hereinafter'-prov~de'd"in Se. eti-on 15 for investment of moneys on deposit.~n' the-Bond Fund..: All' income derived from such iaveSt~ments and losses resulting therefrom shall be credited to or charged against the 'Construction and Acquisition Fund. ~ Any balance of unexpended moneys:in the Construction and Acquisition Fund after completion of the Project in accordance with said plans and specifications shall:-be deposited by the Trustee into the 'Reserve Fund and used by the Trustee as provided in SectiOn 2.03 of the Agreement. N U T E S Cit7 c0mmi~sian~, San£ord)' l?tO~d~::,~ ..~Februarg~ 13 at 7: 00 P. M. 19.78 Section 12, of. the Constitution of the Stat'e of Florida, but shall be payable solely from and secured.by a prior lien upon'and:~a..pledge of the Proceeds~ as that germ is herein defined, and in the manner herein provided. No holder or holders of any Bonds issued here- under or of any coupons appertaining, thereto shall., ev.er, have-the right to compel~the exercise of the ad valorem taxing, power of the Issuer or taxation in any fo~m of any real property or tangible- personal property~therein to pay such. Bonds or the~interes.t, thereon or be entitled to payment of suchprincipal and interest-from any. other funds of the !ssuer except from the, special funds, in. the manner provided her~in, --~ . The Payment of the principal of And.interest on the Bonds shall be secured forthwith equally and ratably'.hy an irr.evocab, le and prior li'en on and pledge of the ~roceedS, and the Issuer does hereby irrevocably pledge such funds to th~'payment~*-oY~he principal of and int.erest .on the Bonds' and.for all other.payments: required by thisinstrument. SECTION 15. COVENANT.S OF THE ISSUER. For as ,long. as any .of the principal of and'interest on any of.the Bonds sh~ll be outstanding .and unpaid or until there shall have been ~set. apart in the Bond Fund and-the.Reserve Funda sum ~ufficient to pay ~hen due the entire principaI~ of, the Bonds:rema.ining unpaid together ~ith interest accrUed-and- to accrue thereon, the Issuer covenants with the holders of~any~and all Bonds as :follows: (A) BOND ~FUND. Ail of .the Proceeds, as de£ined herein,-as soon as the same are received by the Trustee, shall be forthwith deposited in the Bbnd.Fund and, ~f required, deposited-in the Reserve Fund as required by Section 4,03 (C)of the Agreement. (B) DISPOSITION OF BOND FUND MONEYS. All moneys at any time remaining on deposit in~ th~ Bond Fu~d shaI% be disposed of as f~llows~ :, .. ~ .. .... ~: . : (1) ,~ On eaeh~,.gune 1 and December 1~, to the payment "of. the interest on t-he Bonds .coming due and payableon:such dat:e.- (2)'.'On each December-l',~to'~.the'~payment .o~ the.principal amount of the outstanding .Bonds :mat-uring on,such date: '~ J(3) ~ To~the payment of all~reasonable*:£ees~and,expen~ses of the Trustee which may be ch,arged~in connectio~w~ith the. performance of its duties and services with respect to~.such: M 'I,iN U T E S .CityCommission, Sanford, ~lorida . February 13, at 7: O0 P. M. 19 78 MIDSTATE LEGAL SUPPLY COMPANY (4-) T.o, the. reimburSement of the Trust'ee and the Issuer of all reasonable expenses and. expenditures made or incurred by the Trustee an~d the Issuer by reasonof any advance ~made pursuant:t'o Section 8~08 of th:e Agre'.e~ent. (5) I'f-the Reserve Fund¥ after allowances for investment- income, if any,-deposited~thereto-is-less than. or,.is-~reduced or deplet:ed .to. any-degree-from-the maximum~ amount required to be on deposit-thereim,-then in. addition to the payments mentioned in ~subparaphaphs (il,),: (2).~('3)~a~d-(4)-~above,-the:re shall be 'depoSited, tO the~ Reserve Fund on any interest payment date an amount equal to one-tenth (1/10) of the amount required to be on deposit in the Reserve Fund or the ~am'ount of the deffciency,~whichever is less.- (6) ~ To~ th~ payment of ali defidiencies, in prior payments due by reasons'of the provisions of ~his' subsection, ' Moneys on deposit in the Construction-and Acquisition Fund, Bond Fund and Reserve Fund may be invested as hereafter~provfded. Any and all imcome received by the Issuer from investment~of the Construction and Acquisition. Fund shall remain in ~the-~onstruction and Acquisition-Fund ~for the~rposes thereof until completions.of the Project. ~hereafter,'.any i~vestment~ earnings or ,other moneys in the Construction and Acquisition Fund-shall be transferred ~.to the Reserve Fund. Any and ~al.1 income received by the Issuer from investment of the Reserve Fund or from transferred 'moneys from the Construction and ~Acquisition Fund shall be retained in the.Reserve Fund to the extent required-tomaintain the maximum deposit to be on deposit in said Fund. Any funds in excess-thereof shall~be transferred and deposited into the Bond Fund'and used as provided in Section 2.03.o,f theAgreement. (C) DISPOSITION OF RESERVE FUND MONEYS, The moneys deposited in the Reserve Fund shall be used by the Trustee for the purpose of paying principal of and interest on the Bonds at maturity whenever and to the extent that the moneys held for the credit of the Bond Fund shall,b~ insufficient for such purpose. When the principal and interest of all prior Bond maturities have .been paid, any balance remaining in..the..Reserve Fund may~be appt~ed to the payment of Principal and interes~ on the last maturity of any of the Bonds remaining outstanding. ~ - -- ......... -Gity Coramission,-San~Or~l,.,Ftorid~ ~,.;:.: ,Feb:rua~y 13, at 7'00 P M. 19 ,~8 I Ail moneys on deposit to the credit of-.the~.Bond ~und, Construction and.AcquisitionFund ~and.the.Reserve :Fund~shallbe continuously secured.:~in:-such ;manner as.~.municipal, depos~ts are authorized to be secured by the laws of. FZoridaand-shall, at the written request of the Company~ be invested and rei'nvested:by~the Trustee as specified in'such requests in-direct obligations of, or obligations the principal of and intemest on which are guaranteed by, the United:States of America,..:or in obligations of~the~Federal National Mortgage Association, the ~Federal I-ntermediate, Credit Corporation, or.Federal Home Loan Banks, or commercial paper ~f the quality which has..~a Standard and:Poor rating of A-l,~or i.n time deposits in banks hav~ng'capital"and.surplus-of.not tess~than $ ~ ~evidenced by-;~certificates'of deposit ~secured~.by the obligations.of~the'above federal agencies; ~such~certificate of deposit maturing not'later than ten (10) days prior to the respective dates on whichsuch moneys will. be needed, to the extent such investments~qualify under:Florida ~law~ (D) ENFORCEMENT OF INSTALLMENT PURCHASE TRUST AGREEMENT~ The Issuer will diligently enforce;and cooperate:with:the Trustee to achieve the enforcement of Ail the covenants-and agreements on the part of the Company that are contained in. said Agreement and:~ill take all steps, actions and proceedings-for.the enforcement ~ofdsaid Agreement and the collection;of the Proceeds payable thereunder, to the full extent permitted or .authorized by law; provided, :however, the Issuer shall not be required to incur-any obligation'or expense unless the Issuer shall ha~e-~he~pro~eds~deriVed~hy i~ilf~omt, he~ performance of said. Agreement, which shall be legally available to the Issuer for such purposes, which shall-be sufficient~to reimburse.the Issuer for-any such expenses, or the IssUer .shall be otherwise indemnified to its ~satisfaction against ~any and~-all'costs and expenses,~outtays and counsel fees and~other reasona~'~e. disbursements, and against all liability; (E) REMEDIES.i--Any~.holder ~of .Bonds or any coupons appertaining,.g~ereto issued under the provisions hereof,' or the Trustee acting for the holders of such Bonds, may-~by suit, ~action, mandamus or other prOceedings:~n any'court'of Competent'juris- diction, protect.'-and.~enforce any and att. rights,-inctuding the' - right to the appointmeht, of a'receiver;~ existing under'the"Iaws of · .'" ~ .,::[;, - ~ CitY, CommissiOn; ~san~6r~;~ :'Florida '-: :'" February 13, at 7: 00 P, M, ' 19 78 MIDSTTETE LEGAL 8[JP~O'I~IPANY ' '-- .... Agreement, and may en~orce;and c'ompel'the performances-of all duties herein required'or required 'by-.the,Agreement'or 'by any applicable statutes to be,performed by the'Issuer'.or'~by'.'any ,~ffiaer thereof,'or by the Company of afiy of::its~officars. (F) ISSUANCE:-OF'OTHER OBLIGATIONS' The Issuer witl"not'iss~ue any other Bonds or Obligations~payable:from~the~Proceed~ nor . . voluntarily :create or .eaus~o'to be crea~ed.anydebti"lien.}'pledge,. assignment;~;:encUmbranee om~,other charge~'having'priority:.to or being on a parity with';~,the-l~en'of'~the Bonds.:~issued pursuant:to this Resolutionand the~interest...~hereon,~'upon said Proceleds;,:~excapt under the condi~ions'~and ~n the'manner'provided he~ein; ~Any,Bonds or obligations.issued;,by the ~ssuer'~other :than the Bonds.~and;~obli- gations herein authorized andAdditiOnal Parity::Obligations provided for in subsection ,(G) below, payable-:fr~om suc~ProC'eeds,. shall contain an express statement, that suc:h Bonds~,ar.e ju~ior.a'nd subordinate,in all respects, to the.Bonds herein'authorized, as:t.o lien on and source and security for paym~n~"-!fCO~';suc~ ~c'e~d's~ (G)' ISSUANCE 'OF'.ADDITIONAL P~RiTY-BONDS.-:.NO additional'i~'~ parity bonds"or'-obliga, ti. ons, payable on'a""parity.,from'the ProCeeds with the Bonds.herein:.authorized,~.shall. be issued;aft'er.:the"~:,' issuance of anygonds herein authorized, except .upon the:'conditions and in the manner,hemeinaftem'provided::'~.,: " ~..' : ::. ~.,:~ ,- (1) .The'~dditional pari-ty .bOnds, or. obligations may be. issuedonly to'provide funds to~.pay':the cos¢ of.making additions, enlargements, expansions,~"modifications'or Changes in, on or~t.o ~he~!;prOject which the.Company may d~em necessary or desirable and which ..will not impair operating unity or' productive capacity'or the value of't~he Project~'as a. ~-~ ~ manufacturing plant and will'be'4ocated on the lands described in Exhibit "lB" to 'the Agreement end';on additionallacquired land~ if nec'eSsary , and the cost:of the. issuance and :sale of such additional parity bonds or'ObligatiOns and interest thereon and suchother costs, reasonably related to the'' :' financing.as.~shall'be permitted'by,law'and agreed upon~by the Issuer, and'the:Company; ~' :' ,, ~.~' (2),.'The Issuem:'and the Company'shalt'.ente~into an : agreement supplementing the Agreement, 'in f0rm accept.able to the Issuer's attorney and bond coungel for the Is'su~r~- ' .. M 'I. N U T E S 305. .... City Commission,, Sanfor. tl;.Florida,' ..::.... ,:' '.F,ebruary 13, at 7: 00 P.M. 19 78 MIDSTATE LEGAL SUPPLY COMPANY "" ~"'~ ~ ~ - '-~--I same basis as provided in Section 3.03 of the Agreement with respect to the Bonds herein authorized, and making all of the covenants herein contained applicable to such additional parity bonds or obligations except where different provisions applicable to such additional parity bonds or obligations shall have no adverse effect upon the interest of the holders of the Bonds herein authorized and then outstanding, (3) Neither the Issuer nor the Company shall be in default in performing any of the covenants and obligations assumed hereunder, or under the Agreement, and all payments required herein or under the Agreement to have been made into the accounts and funds, as provided hereunder, shall have been made to the full extent required. (4) The additional parity bonds shall be dated December 1 or June 1 of the appropriate year, and shall mature on December 1 of the year of maturity the~e0f.' .......... (5) No additional bonds or obligations shall~be issued if the issuance thereof shall result in the interest of any Bonds then outstanding becoming taxable for federal income tax purposes. (H) MAINTENANCE'OF TAX-EXEMPT STATUS. The Issuer hereby covenants with the holders of the Bonds that it will not take or cause to be taken or acquiesce in the taking of any action or proceeding which will result in the interest to be payable on any of the Bonds becoming taxable for federal income tax purposes. (I) COVENANT PROHIBITING EXCESSIVE ARBITRAGE. Thelssuer covenants to the purchasers of the Bonds provided for in this Resolution that the Issuer or any agency s~cceeding to the powers, rights and duties of the Issuer under any applicable statutes, will make no use of the Proceeds of the Bonds at any time during the term thereof which, if such use had been reasonably expected on the date the Bonds are issued, would have caused such Bonds to be "Arbitrage Bonds" within the meaning of Section 103(c) of the Internal Revenue Code of 1954, as amended, as interpreted by Sections 1.103-13, 1.103-14 and 1.103-15 of the Regulations proposed for Such purpose by the United States Treasury Department or, after permanent regu- lations interpreting such Code section are promulgated, the corresponding provisions of such permanent regulations. The Issuer MIDSTA-T~-~-AL SUPPLY COMPANY I'.N U T E S City Commission,~Sanford;.:Fl~rida · , February 13, at 7: 00 P. M. throughout the term of the issue to comply with the requirements of Section 103(c) of the Internal Revenue Code of 1954, as amended, and to comply with the requirements of Treasury Regulations Section 1.103-13, 1.103,14 and 1.103-15 or, after permanent regulations interpreting such Code sections are promulgated, the corresponding provisions of such permanent regulations. SECTION 16. MODIFICATION OR AMENDMENT. No material modifi- cation or amendment of this Resolution or of any resolution or ordinance amendatory hereof or supplemental hereto may be made without the consent in writing of the holders of two-thirds or more in the principal amount, of the Bonds then outstanding; provided, however, that no modification or amendment shall permit a change in the maturity of such Bonds or a reduction, in the rate of interest thereon or in the amount of principal obligation thereof or affecting the p~om$~e of the Issuer.to pay the principal of and interest on the Bonds as the same shall become due from the Proceeds or reduce the p~ercentage of the holders of the Bonds required to consent to any materiaI modification or amendment hereof without the consent of the holder or holders of all such Bonds. SECTION 17. AGREEMENT AUTHORIZED. The form of the Install- ment Purchase Trust Agreement annexed hereto as Exhibit "A" is hereby approved and adopted by the Issuer, the Issuer is hereby authorized to enter into said Agreement, and the Mayor-Commissioner and the City Clerk of the Issuer are hereby directed to execute such Agreement on behalf of the Issuer in the manner provided by law. SECTION 18. GUARANTY APPROVED. The form of the Guaranty to be executed by Keller Industries, Inc., attached hereto as Exhibit "B" is hereby approved by the Issuer. SECTION 19. VALIDATION AUTHORIZED. The attorneys for the Issuer, Cleveland, Mize & Bridges, in conjunction with Bond Counsel retained by the Issuer, are hereby authorized and directed to prepare and file proceedings to validate the Bonds in the manner provided by law. SECTION 20. SALE OF BONDS. Subject to judicial validation in the manner provided by law and subject to receipt of the unquali- fied approving opinion of bond counsel, Bryant, Franson, Miller, Olive, Brant and Ryan, Tallahassee, Florida, at closing, the Bonds shall be sold and awarded by resolution~of the Issuer. 19,78 M }N U T E S 19 78 ............ Cit~ Co, mmissio~,Sant~on!,:.~FtOrtda-:..:;Fehr, uary.. 13, at 7;00 P. H, SECTION 21. FEES. Fees of legal counsel, consulting engineer, architects and other reasonable expenses shalt be paid from Bond Proceeds at the time of .closing-upon written request of the Company and upon approval of the Trustee. SECTION 22. SEVERABILITY OF INVALID PROVISIONS. If any one or more of the covenants, agreements or. prQvisions herein contained shall be held contrary to any express provision of law or contrary to the policy of express law, though not expressly prohibited, or against public policy, or shall for any reason whatsoever be held invalid, then such covenants, agreements or provisions shall be null and void and shall be deemed separable from the remaining covenants, agreements or provisions and shall in no way affect the validity of any of the other provisions hereof or of the Bonds or coupons issued hereunder. SECTION 23. REPEALING CLAUSE. Ail resolutions or parts thereof of the Issuer in conflict with the provisions herein contained are, to the extent of such conflict, hereby superseded and repealed. SECTION 24. EFFECTIVE DATE. This Resolution shall take effect immediately upon adoption. PASSED AND ADOPTED bY' the City Commission of the City of Sanford, Florida, at a duly called meeting at which a quorum was present held in,Sanford, Florida, .on February 137. , 19.7.8. CITY OF. SANFORD, FLORIDA (SEAL) ATTEST: s/ Lee P. Moore Mayor-Commissioner s/ H. N. Tamm~ Jr. City Clerk A public hearing was held in accordance with notice published in the Evening Herald on January 27, 1978 as follows: NOTICE OF PROCEEDING FOR VACATING AND ABANDONING A PORTION OF A STREET RIGHT,OF-WAY .. TO WHOM IT MAY CONCERN: You will take notice that .the ~CityCommission of the City~of~ Sanford, Florida, at 7:00 o'clock P. M. on February 13, 1978, in the City Com- mission Room at the City Hall in the City of Sanford, Florida, will ~ ' 19 78 City :Cum, ission, ' · .. ' m sanfor~; FlY, da .--~ 'February 13, at 7:00 P. M. MIDSTATE LEGAL SUPPLY COMPANY of the street right-'of-way of French Avemue lying between 25th Street and Bayard Street and between French Avenue and Laurel Avenue, more particularly described as .follows: " ' : ~ That portion of ~the street right-of-Way of French Avenue ly- ing South of the Westerly extension of the North line of Lot 16, Block 8, Dreamwold, Plat Book 3, Page 90, and ~between the West line of said Lot 16 and the East right-of-way line of SR 600. . Persons interested may appear and be heard' at the time and place speci- fied. City Commission of the City of Sanford, Florida.. By: H.' N. Tamm', Jr. City Clerk Publish: January 27, 1978. The City Clerk reported that notices were sent to property owners January 23, 1978. The Chaimman announced that the Commission would hear from those persons present to speak in favor of, or in opposition to, the proposed street closing. No one appeared. Commissioner Morris moved to authorize the City Attorney to prepare the proper ordinance to vacate and abandon that part of the street right-of-way of French Avenue lying South of the Westerly extension of the North line of Lot 16, Block 8, Dreamwold and between the West line of said Lot 16 and the East-right-of-way line of SR 600. Stenstrom and carried. Recommendation dated February 3, 1978 submitted from the Planning and Zoning Commis- sion as follows: 1. Recommend to the City Commission to allow parking on the north side only, of 13th St. from Lake Ave./to Pomegranite Ave. Reason: to allow emergency vehicle and school bus passage without creating a hazardous condition. This recommendation was made after discussion of the problem and past traffic study and recommendation. Stenstrom. Commissioner Keith moved to approve the recommendation. Seconded by Commissioner Seconded by Commissioner Commissioner Morris moved to table consideration of same and to authorize a notice to property owners and tenants of buildings on both sides of 13th Street between Lake ,Avenue and Pomegranite Avenue of a public hearing to be held February 27, 1978 to consider this proposed change. Seconded by Commissioner Stenstrom and carried. Recommendation dated January 30, 1978 submitted from the Central Examining Board as 1. Recommend Section 8-3~ National Electrical Code Adopted, be amended to read: Sec. 8-3~ National Electrical Code Adopted The National Electrical Code of 1978 as prepared by th.e.Mational Fire Protection Association, as amended by Central Florida Adv{sory-Code Committee Notice F, and ~further amended as follows: follows: "Aluminum Conductors shall not be installed and used '.City Commission, Sanford, Florida, .... February 13, at 7: 00 P.M. 19 78 is hereby adopted as the electric code of the city~ one (1) copy of which code is on file in the office of the city clerk as a matter of permanent record of the city and the matters and contents therein are made a part of this chapter by reference as fully and completely as if set forth herein, and such copies shall remain on file in said office available for public inspection. Commissioner Morris moved to authorize the City. Attorney to ~prepare the proper ordinance to adopt same. Seconded by Commissioner Stenstrom and carried. Petition submitted from Jewell C. Penner for annexation of Lot 17, Block 13, 4th Section Dreamwold. Commissioner Morris moved to authorize the City Attorney to prepare the proper ordinance to annex same. Seconded by Commissioner Stenstrom and carried. On recommendation of the City Manager and Acting City Manager, Commissioner Morris moved to authorize time extensions on condemnations as follows: Group Report No. No. Address Owner Min Housing Code Insp Recommends 29 75-561 29 75-562 38 75-693 40 75-721 43 76-757 43 76-756 44 77-764 45 77-783 45 77-785 46 77-801 46 77-796 1610 Mulberry 1612 Mulberry 409 E 9th St 1516 W 7th St 1607 Mulberry 604 W llth St 820 W 13th St 1015 Bay 1223-1229 W 13th St 111 Cedar Ave 1105 E 10th St Leon White Leon White Helen Constantine Lois Jame Mary Smith Wm S Gracey James A Bradshaw Minnie Washington Henry McAlister Geraldine Powell Rev Charles Black 60 days 60 days 60 days 90 days 90 days 90 days 60 days 90 days 90 days 90 days 60 days Recommended by the City Manager and Acting City Manager. Seconded by Commissioner Keith and carried. Statement in amount of $10,633.01 submitted from the City Attorney for Attorney's fee for validation of Public Improvement Revenue Bonds, Series 1976. After discussion of the minutes of October 10, 1977 and February 14, 1977 regarding same, Commissioner Stenstrom moved to authorize payment of the statement. Seconded by Commissioner Morris and carried over dissenting vote of Mayor Moore. Commissioner Stenstrom introduced Ordinance No. 1417 and moved to declare it an emergency ordinance to be placed on first reading and adopted. Seconded by Commissioner Keith l~and carried. Said Ordinance No. 1417:entitled: AN ORDINANCE PURSUANT TO SECTION 447.022, FLORIDA STATUTES CHAPTER 74-100, LAWS OF FLORIDA, RELATING TO LABOR, IMPLEMENTING SECTION 6 OF ARTICLE 1 OF THE CONSTITUTION OF THE STATE OF FLORIDA; PROVIDING RIGHT TO MUNICIPAL EMPLOYEES TO ORGANIZE AND:BARGAIN COLLECTIVELY AS TO TERMS AND CONDITIONS OF EMPLOYMENT; PROVIDING METHOD OF BARGAINING PROCEDURE;-CREATING AND PROVIDING ADMINISTRATION BY THE SANFORD PUBLIC EMPLOYEES RELATIONS COMMISSION; PROVIDING FOR CITY COMMISSION REVIEW OF COMMISSION RULES; DEFINING RIGHTS OF PUBLIC EMPLOYEES AND EMPLOYERS; PROVIDING PAYROLL DUES DEDUCTI ON; PROVIDING RULES AND PROCEDURES FOR REGISTRATION, RECOGNITION, AND CERTIFICATION OF EMPLOYEE ORGANIZATIONS AND BARGAINING AGENTS; PROVIDING PAYMENT OF FEES AND EXPENSES IN COLLECTIVE BARGAINING PROCESS; PROVIDING GRIEVANCE PROCEDURES; PROVIDING PROCEDURES FOR RESOLUTION OF IMPASSE; PROVIDING FACTORS TO BE CONSIDERED BY THE SPECIAL MASTER; PROVIDING FOR COMPENSATION AND RECORDS; ESTABLISHING UNFAIR LABOR PRACTICES BY EMPLOYERS AND EMPLOYEE ORGANIZATIONS; PROVIDING PROCEDURES' TO RESOLVE :, MINUTES City Commission,. Sanford, .,Florida ~AL SUPPLY COMPANY ~February 13, at 7:00 P. M. 19 78 On motio~ of Commissioner Morris, seconded by Commissioner Stenstrom and carried, Ordinance No. 1418, entitied:~' - AN ORDINANCE~OF THE CITY OF 'SANFORD,'FLORIDAf - AMENDING CHAPTER 16~ OF THE CODE OF THE CITY OF SANFORD, FLORIDA, THE SAME BEING KNOWN AS THE MECHANICAL CODE, SAID AMENDMENT ADOPTING THE 1977 REVISION TO THE 1976 EDITION OF THE STANDARD MECHANICAL CODE, AS A~NDED WITH THE FOLLOWING AMENDMENTS: DELETION OF THE SECTION SETTING FORTH FEES; AMENDMENTS OF THAT~SECTION RELATIVE TO FURNACE ROOMS TO PROVIDE WHEN AN APPLIANCE IS !LOCATMD IN A FURNACE ROOM THE ROOM SHALL HAVE AN OPENING SUFFICIENT IN SIZE TO PERMIT REMOVAL OF THE LARGEST PIECE OF THE FURNACE IN SUCH ROOM; AMENDMENT OF THAT SECTION RELATIVE TO PLENUM CHAMBERS PROHIBITING THE USE OF SAME AS AN INTEGRAL PART OF A DUCT SYSTEM UNLESS NON-COMBUSTIBLE MATERIAL IS USED, 'PRO- HIBITING THE USE OF SUCH CHAMBERS FOR STORAGE AND OCCUPATIONAL PURPOSES AND, PROHIBITING THE USE OF PUBLIC EXIT HALLS AND STAIRWAY ENCLOSURES CONNECTING TWO OR MORE STORIES AS PLENUMS. was introduced and placed on its first reading and read i~'full. On motion of Commissioner Morris, seconded by commi~s.sioner Keith and carried, Ordinance No. 1419, entitled: AN~O~RDINANCE OF THE CITY OF SANFORD, FLORIDA, AMENDING ORDINANCE NO. 1097 OF SAID CITY, SAID ORDINANCE BEING A ZONING PLAN WITHINTHE CiTY OF SANFORD, FLORIDA, SAID AMENDMENT CHANGING THE ZONING OF A PORTION OF THAT CERTAIN PROP- ERTY LYING BETWEEN FIRST STREET AND SECOND STREET AND BETWEEN AVOCADO AVENUE AND MANGOUSTINE AVENUE TO GC-2 (GENERAL COMMER- CIAL) DISTRICT. was introduced and placed on its first reading and read in full. On motion of Commissioner Keith, seconded by Commissioner Stenstrom and carried, Ordinance No. 1420, entitled: AN ORDINANCE OF THE CITY OF SAN-FORD, FLORIDA, AMENDING SECTION-8-3 OF CHAPTER 8 OF THE CODE OF THE CITY OF SANFORD, -FLORIDA, THE' SAME BEING ~KNDWN "~ ~ AS THE ELECTRICAL CODE, SAID AMENDMENT ADOPTING THE NATIONAL ELECTRICAL CODE OF 1978 AS PREPARED BY THE NATIONAL FIRE PROTECTION ASSOCIATION, AS AMENDED BY CENTRAL FLORIDA ADVISORY CODE COMMITTEE NOTICE F, AND FURTHER-AMENDED~, TO PROHIBIT THE INSTALLATION OF ALUMINUM, CONDUCTORS IN ANY STRUCTURES WITH THE EXCEPTION OF NO. 6 AWG AND LARGER CONDUCT- ~ORS FOR CIRCUITS WHICH~ORIGINATE FROM A'- PANEL AND TERMINATE AT A SINGLE DEVICE; PROVISION FOR AN EFFECTIVE DATE. was introduced and placed on its first reading an'd read in full." . Commissioner Morris moved to table'the;first reading of Ordinance No. 1421. by Commissioner Stenstrom and carried. Ordinance No. 1421, entitled:~ Seconded AN ORDINANCE OF THE CITY OF SAN-FORD, FLORIDA, AMENDING SECTION 3=2 OF CHAPTER 3, ENTITLED'ALCOHOLIC BEVERAGES ~OF THE CITY OF SANFORD CODE: SAID AMENDMENT ADDING A SECTION TO AUTHORIZE THE PACK- AGE SALE OF BEER AND WINE AT CONVENIENCE · MIN U T E S · ' City Commission~ sanfor~l~~ FlOfdd~": ~: .....;February 13, at 7: 00 P. M. 1978 On motion.~of Commissioner Morris, .seconded. by Commissioner Keith~and carried, Ordinance No. 1422, entitled: AN ORDINANCE OF THE CITY OF SANFORD, FLORIDA, AMENDING CHAPTER 6, OF THE CODE OF THE CITY OF .SANFORD, FLORIDA, THE SAME BEING KNOWN AS THE BUILDING CODE, SAID AMENDMENT DELETING SECTION 6-5 THEREOF, RELATIVE TO THE REQUIRE- MENT THAT BUILDINGS CONSTRUCTED IN THE CITY OF SANFORD HAVE SPRINKLER EQUIPMENT AND SMOKE DETECTION DEVISES ON ALL FLOORS ABOVE 45 FEET FROM GROUND LEVEL; PROVIDING AN EFFECTIVE DATE. was introduced and placed on first reading and read in full. The City Attorney stated that an error was made in Ordinance No. 1404, rezoning a portion of property between Lake Avenue and Cedar Avenue and between 24th Place and 25th Street to GC-2; and the property should have been zoned RMOI in'accordance with legal adver- tisement and public hearing; and, further, recommended the adoption of Amended Ordinance No. 1404. The Mayor announced that the Commission woUld'hear from those persons present to speak in favor of, or in opposition to, the adoption of Amended Ordinance No. 1404. one appeared. No entitled: Commissioner Keith moved on the passage and adoption of Amended Ordinance No. 1404, AN ORDINANCE OF THE CITY OF SANFORD, FLORIDA, AMENDING ORDINANCE NO. 1097~..0F SAID CITY, SAID ORDINANCE BEING A ZONING PLAN WITHIN,~THE CITY OF SANFORD, FLORIDA, SAID AMENDMENT CHANGING THE ZONING OF A PORTION OF THAT CERTAIN PROPERTY LYING BETWEEN LAKE AVENUE AND CEDAR AVENUE AND BETWEEN 24TH~ PLACE AND 25TH STREET TO RMOI (MULTIPLE FAMILY RESIDENTIAL, OFFICE AND INSTITUTIONAL) DISTRICT. Thereupon, the Chairman announced that the City Commission of the City of Sanford, Florida, had passed and adopted said Amended Ordinance No. 1404. A public hearing was held in accordance with notice published in the Evening Herald on February 6, 1978 as follows: NOTICE OF A PUBLIC HEARING TO CONSIDER THE ADOPTION OF AN ORDINANCE BY THE CITY OF SANFORD, FLORIDA. Notice is hereby given that a Public Hearing will be held at the Commission Room of the City Hall in the City of Sanford, Florida, at 7:00 o'clock P. M. on February 13, 1978, to consider the adoption of an ordinance by the City of Sanford,-Ftorida, title of which is as follows: ORDINANCE NO. 1416 AN ORDINANCE OF THE CITY OF SANFORD, FLORIDA, AMENDING SECTION 18-20 OF CHAPTER 18 OF THE CODE OF THE CITY OF SANFORD, FLORIDA, SAID SECTION-BEING ENTITLED RECREATIONAL VEHI- CLES; PARKING OR STORING ON STREETS OR PRIVATE RESIDENTIAL PROPERTY, SAID AMEND- MENT ALLOWING THE PARKING OR STORING OF RECREATIONAL VEHICLES IN CARPORTS, DRIVE- WAYS OR FROM YARDS WHEN SIDEYARD SETBACKS ARE NOT SUFFICIENT TO ALLOW ACCESSIBILITY TO REAR YARDS. M"INUTES ...... iCitY ~Commission,"S~nfor~l, Ft~rlda- .'. ~ February 13, at 7: 00 P.M. 19 78 MIDSTATE 'LEGAL SUPPLY COMPANY A copy shall be aVailable at the Office of the City Clerk for all persons desiring to examine the same. Ail parties in interest and citizens shall have an opportunity to be heard at said hearing. By order of ~the City Commission of the City of Sanford, Florida. Hi' N. Tamm, Jr. City Clerk Publish: February 6, 1978. Ordinance No. 1416 entitled: AN ORDINANCE OF THE CITY OF SAN-FORD, FLORIDA, AMENDING SECTION 18-20'0F CHAPTER 18 OF THE CODE OF THE CITY OF SANFORD, FLORIDA, SAID SECTION BEING ENTITLED RECREATIONAL. VEHI- CLES; PARKING OR STORING ON STREETS OR PRIVATE RESIDENTIAL PROPERTY, SAID-AMEND- MENT ALLOWING THE PARKING OR STORING OF RECREATIONAL VEHICLES IN CARPORTS, DRIVE- WAYS OR FRONT YARDS WHEN SIDEYARD SETBACKS ARE NOT SUFFICIENT TO A'LLOW ACCESSIBILITY TO REAR YARDS. introduced and placed on its first reading and read in full at meeting of January 23, 1978, was next placed on its second reading. After being read by title, the Chairman announced that the Commission would hear from those persons present to speak in favor of, or in opposition to, the adoption of Ordinance No. 1416. No one appeared. Commissioner Morris moved on its passage and adoption. Seconded by Commissioner Stenstrom and carried. Thereupon, the Chairman annoUnced that .the City Commission of the City of Sanford, Florida, had passed and adopted said OrdinanCe No. 14'1'6', entitled: AN ORDINANCE OF THE CITY OF SAN-FORD, FLORIDA, AMENDING SECTION 18-20 OF CHAPTER 18 OF THE CODE OF THE CITY OF SANFORD, FLORIDA, SAID SECTION BEING ENTITLED RECREATIONAL VEHI- CLES; PARKING OR STORING ON 'STREETS OR PRIVATE RESIDENTIAL PROPERTY, SAID AMEND- MENT ALLOWING THE PARKING OR STORING OF RECREATIONAL VEHICLES IN CARPORTS, DRIVE- WAYS OR FRONT YARDS WHEN SIDEYARD SETBACKS ARE NOT SUFFICIENT TO ALLOW ACCESSIBILITY'TO REAR YARDS. On motion of Commissioner Stenstrom, seconded by Commissioner. Keith and carried, vouchers for the month of January, 1978 were approved as follows: General Fund, Flagship Bank of Sanford, Voucher No. 7932 thru 7937 Water & Sewer Revenue Fund, Flagship Bank of Sanford, Voucher No. 1701 thru 1705 Policemens Pension Fund, Flagship Bank of Sanford, Voucher No-509 Firemen's Relief and Pension-Fund, Flagship Bank of Sanford, Voucher No. 356 Revenue Sharing Trust Fund, Flagship U. Si Bank of Seminole, .Voucher No. 91 thru 94 Central Paying Account,~Flagship Bank of Sanford, Voucher NO. 14981 thru 15096 Utility Service Tax, Atlantic National Bank of Sanford, Voucher No. 120 and 117 City Hall Construction Fund, Flagship Bank of Sanford, Voucher"No. 32 and 37 Antirecession Fiscal Assistance. FUnd, Flagship Bank of Sanford~, Voucher No. 51 and 52 Renewal & Replacement, Flagship U. S. Bank of seminole', Voucher No. 113 LPW City Hall Grant Fund, Atlantic National Bank, Voucher No. 26 thru 28 1953 Sinking Fund Reserve, Flagship of Sanford, Vbucher NO. 24 ' M I,N U T E S City Commission, Sanford', F[orida~ . February 13, at 7: 00 P.M.. 19. 78 MIDSTATE LEGAL S~~I~iPANY ~ ~ ~ '. .... as follows: The City Manager sUbmitted quotes for replacement or repair, of two wells on 17-92, Layne-Atlantic Company Merridith Company $3,252.00 $3,575.00 On recommendation of the City Manager, Commissioner Morris moved that due to the emergency situation, to accept low quote from Layne-Atlantic Company in amount of $3,252.00, without formal bids, so the unit can be obtained and installed by April. Seconded by Commissioner Stenstrom and carried. The City Manager submitted bid tabulations for shop equipment as follows: Motor Repair Air-Hydraulic Dual Wheel 3 Ea. 5" Stand Jack Dolly Bench Vise Carolina - Florida Shop Equipment, Inc. Alternate: Bailey Motor Equipment Co. Alternate: Cornwell Tool $743.00 $533.00 $450.00 $177.00 (1)295.00 695.00 (2) 262.95 422.00 372.00 522.00 186.60 590.00 595.00 330.00 182.00 On recommendation of the City Manager, Commissioner Morris moved to accept low bids as follows: Motor Repair Stand: ~ · Cornwell Tool in amount of $590.00. Air-Hydraulic Jack: Bailey Motor Equipment Company in amount of $422.00.. Dual Wheel Dolly: Cornwell Tool in amount of $330.00. 3 Each 5" Bench Vise: Carolina - Florida Shop Equipment, Inc. in amount of .$177.00. Seconded by Commissioner Stenstrom and Carried. On motion of Commissioner Stenstrom, seconded by 'CommiSsioner Keith and carried, salary reclassifications were authorized as follows: Dennis Grooms from Refuse Laborer II D:to E, $7;.734.85 annual. James Hensley, from Maintenance Repairman E t'o F, $9,196.94 annual. Clondike Abbott from Parks Laborer I' C to D, $7,168.89 annual. On recommendation of the City Manager, Commissioner Keith. moved to authorize the City Manager to execute a contract With Cody and Associates to develop a performance evalua- tion system and training, as set forth in the approved grant under the Intergovernmental Personnel Act in amount of $2,984.00. Seconded by Commissioner Stenstrom and carried. The City Manager report.ed that Civil Service Board member Mack Cleveland had disqualified himself as a member of the board for a hearing, and recommended Jack Homer to fill the temporary vacancy for this hearing. Commissioner Morris moved to authorize same. Seconded by Commissioner Stenstrom and carried. The City Manager reported that Department Heads have suggested th.e uses for~Anti- Recession Funds as follows: MI N U T E S :Citiy Commisaion,:. Sanford~,. Florida .. .:.::. ..... February 13, at 7:00 P. M. LEGAL SUPPLY COMPANY On recommendation of the City.Manager, Commissioner Stenstrom mo~ed to authorize the City Manager to prepare a proposed budget for same and submit to the Commission. ssioner Morris and carried. Seconded by Commi- 90 days. Commissioner Morris moved to deny same. over the dissenting vote of Commissioner Stenstrom. Request submitted from the Sanford-Seminole Jaycees for waiver of license fee for a carnival held January 31 through February 5, at 1500 French Avenue. On recommendation of the Request submitted from Citrus Country Toyota to use a trailer sign for an additional Seconded by Commissioner Keith and carried City Manager, Commissioner Morris moved to authorize same. carried. Seconded by Commissioner Keith and The City Attorney reported on items discussed at the Legislative Delegation Meeting of January 26, 1978 as follows: delegation. (1) Enclaves. (2) Annexation of enclaves. (3) Repeal of the Seminole County Comprehensive Planning Act. The Commission approved CALNO to continue to pursue these items with the legislative On recommendation of the City Manager, Commissioner Stenstrom moved to authorize payment to Williams Development Company in amount of $102,397.00, for work'on the City Hall, from LPW Grant Fund. Seconded by Commissioner Morris and carried. The Mayor was authorized to execute ~a letter of assurance to the Veterans of Foreign Wars that the City has no intention of using, or asking the Veterans of Foreign Wars to move from the property known as "The Old Legion Hut" in the next tw~ years. On motion of Commissioner Stenstrom, seconded by Commissioner Keith and carried, Ordinance No. 1423, entitled: AN ORDINANCE OF THE. CITY OF SANFORD, FLORIDA, AMENDING SECTION 22-16 OF CHAPTER 22 OF THE SANFORD CITY'CODE, SAID CHAPTER BEING ENTITLED "SIGNS AND.ADVERTISING"; SAID AMENDMENT AMENDING THAT CERTAIN SECTION'RELATIVE TO GROUND SIGNS TO PROVIDE FOR SETBACK REQUIREMENTS FROM PUBLIC AND PRIVATE PROPERTY LINES; PROVIDING AN EFFECTIVE DATE. was introduced and' placed on' its 'first reading and read in full. There being no further business, the meeting was adjourned. MAYOR 19 78 ATTEST: