022626I]
CITY COMMISSION, ,SANFORD, FLORIDA. -Feb., 20, 1926 Adjourned Session= tg
The City Commission of the City of shford, Florida met in an adjourned session of a
regular meeting at the City Hall at Sanford-Florida , on the 20th day of February A.D.1926, r
Present', Commissioners Forrest Lake, S'0 Chase and E F Housholder.
Absent: None.'
The W H Silverman Company and Taylor Wilson & Co. of Cincinnati 04io, submitted irn
writing a joint proposal to purchase at private sale the $232,000.00 legally issued 6%
I
rt Improvement Bonds-of the City of Sanford, Florida dated- January 1, 1926 matimikg serially
authorized by Resolution No.'295, duly adopted on the llth day of January-A.D.1926 -. Said
proposal by the W H Silverman Company and Taylor Wilson &Co. was thoroughly discussed,
thereupon Commissioner E F Housholder offered-the following Resolution which was unanimously
adopted.:
Whereas-, the City Commission of the City of Sanford, Florida heretofore caused to be
advertised for sale on the 19th day of February A.D.1926 $232,000.00 legally issued 6%
Improvement Bonds of the City of Sanford Florida, dated January ls,t 1926, authorized
by bonding resolution # 255, duly adopted on the llth�day of January A.D.1926 , and
Whereas-, on- the said 19th day of February A.D.1926,. sealed proposals were received by 1
the City Commission of the City of Sanford, Florida for the purchase of said issue of bonds,
and,
Whereas, eight bids were submitted to theCity Commission on said date for the pur-
chase of said bonds, and
Whereas, the City Commission aftez due consideration of the bids'.submitted, rejectee
all bids so submitted for the purchaseof said bonds, and
Whereas, said bonds were not sold pursuant to such advertisement and may be legally
sold at private- sale 'at any time within sixty days after the date of advertisement for the
receipt of sealed bids, and °
v
Whereas,. the W H Silverman Company and Taylor Wilson & Co-. have submitted a proposes]
for the purchase of the $232,000.00 City of Sanford, Florida Improvement bonds -bring
interest at the ate of 6% per annum, interest payable July let.,and.January let, of each
year, both principal and interest of said bonds being payable at Chase National Bank in
the Cijty' of. New York, State of New York, - being of the denomination of $1,000.00 Each, said t
to be dated January let, 1926 and to mature (serially from January let, 1927 to January 1st,
-1936, inclusive, authorized by resolution #255, duly adopted on the 11th day of January A.D.
1926, said proposal being in words and figures.as follows, to- wit
"February 20, 1926
Hon. Board of City Commissioners
Safford, Florida.
Gentlemen:
-For the
$232,000.00 Sanford Florida 6% bonds more fully described on the reverse side of
this sheet,, we agree to pay you two hundred thirty two thousand and fifty ( 232,050.00 ) Dol
lars, and accrued interest to date of delivery. Delivery to be made in Cincinnati, Ohio.
This bid is subject to`our being furnished with the approving opinion of YaIdwell
& Raymond, Attorneys , New Work City.
We enclose herewith our certified check in the sum of $4640.00 as evidence of-our'
good faith. Said check to be used only as liquidated damages in the event we fail to comply
with the terms of our bid.
R
espectfully submitted,
The W H Silverman Company, Cincinnati
Taylor Wilson & Co.
( Signed)
By, , R genampb ell
M
„9
i
Ot
CITY COMMISSION.' SANFORD. FLORIDA. February 20, - 19.26
and,,
Whereas, it is the opinion of the City Commission that the said bid of the W. H.
Silverman Company and Taylor Wilson & Co. offering to purchase said bonds bearing
interst at the rate of six per cent per annum, at par, Plus a premium of $50,00 with
accrued interest to date of delivery, is the best and highest bid obtainable for the
purchase o;g said bondg, said bid being in excess of any proposal submitted to this Com-
mission on the 19th day of February A.D.1926, therefore,
BE IT RESOLVED, that it is the opinion of this Commission that sid bid of the W H ~
Silverman Company and Taylor Wilson & Co. this date submitted, for the purchase of. said
issue of bonds ko bear interest at the rate of six per cent, at par, plus a premium of
$50,00 with accrued interest to date of delivery, be and the same is hereby accepted.
BE IT FURTHER RESOLVED, that the sale of said bonds be and the same is hereby awarded
to.the W H Silverman Company and Taylor Wilson & Co. of Cincinnati, Ohio, upon the terms
and conditions set forthiin the written proposal date February 20th 1926; submitted by the
W H Silverman Company and Taylor- Wilson & Co.
BE IT FURTHER RESOLVED, that the said bonds of the City of Sanford, Floridaiin the
sum.of $232,000.00 authorized by resolution aforesaid, be delivered to the W H Silverman
Company and Taylor Wilson & Co. upon the payment therefor by the W H Silverman Company and
Taylor Wilson & Co. of the,sum $232,050.00 with accrued interest to date of delivery.
Adopted this 20th day of February A.D.1926.
Attest:
L R Philips
City Clerk
There being no further business the meeting adjourned.
Attest:
Oily 16rk .
Supplement to above minutes)
Forrest Lake
S 0 Chase.
E F H usholder.
Ad the City Commission :o.
of Sanford, .Florida.
Mayor
M
Mr R G Campbell submitted a proposition to the City Commission offering to procure :a purehas
for the $232,000.00 legally issued 6% Improvement Bonds of the City of Sanford, FlQ'Z'ida dated
January lot, 1926, authorized byR °�kesollution #255, adopted by th'e' City Cession on January
11, 1926, ready and willing to purchase said issued of bonds.va.t,: =more tha 'Ahe par value - there
of with accrued interest to date of ddliver said written proposal of R G Campbell .:b i :n
Y.� P P � , � _.
words as follows:
February 19, 1926
Honorable City Commission
City of Sanford, .Florida.
fi
Biro:
I submit fallowing post# on: i c
I
WIN.UTES
,CITY. COMMISSION, .SANFORD, FLORIDA. February 22, 1926 at 2,30 P.M. lg
I will undertake and agree MXVQ1it,E 21GYou a purchaser for your $232,000.00 City
of Sanford Florid 6% Improvement Bonds who.will pay you for said issue more than par , plus
accrued interest to date of delivery. For said service to be performed by me as your fiscal
agent, you are to pay me in cash at the _time of the delivery (bo the purchaser and payment
by the purchaser of the purchase price of said bonds the sum of $2,320.00.
pie (-111z ,)ri7i present, : eetil�� adjourned. to e ty6?1i �5 �Tuary 23rd. fir.
at 2 `. L Signed) R G CAMPBELL "
The matter was thoroughly discussed by the Commission, and thereupon Commissioner E.F.
Housholder offered the following resolution which was unanimously adopted:
"Whereas, R G Campbell has offered to produce a p17zhaarx for the 3232 0 00g 00 l elra.i ly
issued 6% Improvement Bonds of the City of Sanford, Florida, date&10XSd`uary 1, 1926, who will
purchase said bonds at more than the par balue with accrued interest to date of delivery, an
Whereas, for said service to be so performed by the Said R G Campbell, the said R.G.
Campbell requirew a fee of $2320.00 to be paid in cash to him by the Cit7 of Sanford,'Florida
as soon as the purchaser produced by his has accepted delivery of the above bonds on a basis
above sutlect, qae
Alk •__ _.� _.._
Whereas, it is the sense of this Commission thattthe acceptance of the proposition:
submitted by Mr R G Campbell would be most advantageous to the City, therefore,
Be It Resolved, that the said proposition of Mr 'R G Campbell be, and the same is here-
by accepted, and
Be It further Resolved, that when said bonds have been delivered to a purchaser pro-
dhced by Mr R G Campbell on the basis above outlined, that Mr R G Campbell be paid in cash
by the City of Sanford, Florida the sum of $2320.00 for servi ®es performed by the said Mr.
R G Campbell as the fiscal agent for the City of Sanford, Florida.
Mayor
Attest: /j /JA/ A
City Clerk.
REGULAR MEETING FEBRUARY 22, 1926 at 2`30 P.M.
There being no quorum present the meeting adjourned.
Mayor