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082225-Special SessionMINUTES S CITY COMMISSION. -SANFORD. FLORI©Idt„ ft0ifiCtME 22 10? The City Commission of the City of Sanford Florida, met in special session at the City Hall at Sanford )Florida on the 22nd day of August A. D.1925 at 2:30 P.M. Present: Commissioners, Forrest Lake , S 0 Chase and C J Marshall Commissioner C J Marshall offered the following resolution which was unanimously R adopted: Whereas, under the authority of resolutions adopted respectively' on July 13th', 1'95' and August 5th 1925, The Atlantic National Bank of Jacksonville, Florida has agreed to lend unto the City of Sanford, Florida the sum of $179,000.00 and Whereas, to date the Atlantic National Bank of Jacksonville, Florida has advanced and paid over to the City of Sanford, Florida the sum of $75.000.00 of the total of said loand; said advance being evidenced by a eertifioate ' of. indebtedness of the City of Sanford 3 Florida dated the _,5th day, of August A D 1925, and Whereas, the Atlantic National Bank of Jacksonville, Florida stands ready and willing to pay over to the City of Sanford, Florida the balance of said loan amounting_ to $104,000.0 III and, Whereas, the City of Sanford, Florida has made and executed unto the Atlantis National - -Bank of Jacksonville, Florida & certificate of indebtedness in the sum of $104,000.00 bearing interest at the rate of Six Percent per annum, payable on the first day of February 1926,1 with option of prior payments and e ;. MOOR- - Whereas, the City of Sanford, Florida desires to :furnish unto the Atlantic National Bank of Jacksonville.. Florida, collateral security to said loan. ' Therefore Be It Further Resolved, that all special,.Assessments maids, levied and im- posed against all privately owned property located in the Eastside Bulkhead Distriat as ore �. ated and established by Ordinanoe #94, adopted on the.13th day_of April 1925, all of which said special assessments were equalized, approved and.00nfirmed on August 17th, 1925, and on such date became valid ~and binding liens against the property assessed , said assessments I' constituting- liens against the property assessed until discharged by payment, be and the same are herebv assigned, transferred, set over and delivered unto Seminole County Bunk, !' a corporation, as Trustee for the City of Sanford, Florida, and the Atlantic National Bank of Jacksonville,`Florida$ all of said special assessment liens to be held in trust by the Seminole County Bank, of Sanford, Florida, as collateral security to.the Said Loan of $lo4,000.00 made the City of - Sanford, Florida by the Atlantic National Bank of Jacksonvills Florida, and Be It Further Resolved, that any .aid all moneys received by Seminole County Bank, on account of principal or interest to accrue on said special assessmnst liens held by the Sem- liji lnole County Bank in a trust fund for the retirement of said Certifioat* -Qf indebtedness in sum of $104,000.00 this day delivered by the City of Sanford, Florida, to the Atlantic Nat - ° ional Bank of Jacksonville, Florida. State of Florida SS County of Seminole ` e I, L R Philips, City Clerk of the City of S"ford, F1orlda as do hereby certify that the above and foregoing., is a true and literal excerpt from the Minutes of a . meeting of the City Commission of the City of Sanford, Florida, held on this the 22nd day ,e I of August 1925 S VI1'NUTES CITY _COMMISSION. S*AW0400. FLOR IDA. ' August 22 Witness my hand and of f is ial seal as City Clerk of the City of Sanford, Florida on this the 22nd day of ,August 1925. e L R Phil s ty ark of the City of Sanford Florida. UNITED STATES OF AIERICA No. 2. STATE OF FLORIDA X104,000.00 COUNTY, OF SEMI INOLE . CITY OF SANF ORD, FLORIDA. Six Per Cent Interest Bearing Certificate of Indebtedness. KNOW ALL !MN 13y THESE pRESENT3:. That the City of Sanford, Florida, a Municipal Cor- poration organized and existing under, the laws of the State of Florida, for value received acknowledges itself tustly indebted, and promises to pay to the Atlantic National Bank of Jacksonville, Florida, or order, the sum of ONE HUNDRED FOUR THOUSAND DOLLARS on the let. day of February- A.D. 1926, with option of prior payment, in lawful money of the United States , with Interest thereon from date at the rate of six per cent, per annum until paid, interest payable quarterly. The principal sum evidenced by this certificate of indebtedness., together with all accrued interest thereon is payeible in legal tender of the United States of America, at the Atlantic National Bank-of Jacksonville, Florida, in the City of Jacksonville, Florida. This certificate of indebtedness is one of two certificates aggregating 4179,000.00 and is issued under and by authority and pursuant to a resolution of the City Commission of the City of Sanford, Florida, duly had and adopted. it is hereby certified , recited and dectared_ that all acts, oond4itione and ,things required by law to exist, happen and be performed preoed*nt to. the issuance of this certificate of indebtedness have existed, have happened and have been performed in regular and due time force and manner, as required by law, and that provision has been duly made by the Cite' Commission of the City of Sanford, Florida,, for the payment of the principal sum pepresented by this certificate of indebtedness, together with all accrued interest thereon. In Witness Whereof, The City of Sanford, FlorSda has caused this interest bearing certificate of indebtedness to be signed by its Mayor, and counter signed.by its Clerk and the Seal ° ""� "said`Citq�to be affixed hereto, and -this certificate to be. dated *Ad W116'a ther business the meeting adjourned. Mayor I r € r � Mayor