010840234"' MINUTES
CITY COMMISSION, SANFORD, FLORIDA, Jan 6 at 7: 30 P M 19 40
The City Commission of the City of c)anf ord, Florida met in regular session
at the City Hall in the City of 6anford, Florida, at 7:30 o'clock P.M. January 6, 1940.
Present: Commissioner Walter S. Coleman, Mayor.
It H. James Gut
It Edward Higgins
if M. J Lodge
If G. E Rollins
City Attorney Fred R. Wilson
City Clerk H N Sayer.
Meeting called to order by the Chairman.
Minutes of regular meeting of December 11th. , adjourned meeting of December 18th.
regular meeting of December 25th. and adjourned meeting of December 27, 1939, read
and approved.
Current invoices and payrolls for the month of December 1939, properly audited
and vouchered as evidenced by vouchers Nos. 1707 thru 1805 submitted, examined,
approved and payment ordered.
Monthly reports of the streets, sanitation, health, water, police, fire , library
and recreation departments for the month of December 1939, submitted and examined.
Bank statements in all accounts for the month of December, 193) properly reconciled
submitted and examined.
Financial statement and statement of revenues and expenditures during the month
of December 1939 submitted and examined.
On motion of Commissioner Higgins, seconded by Commissioner Lodge and carried,
the Commission next authorized the purchase from A.B.Morrison & Company, of Orlando,
of one Refunding 8;eries "B" Bond No. 544 with coupon due March 1, 1940 and subsequent
attached at a price of $470.00 and interest.
Commissioner Higgins next introduced Resolution No. 567 and after being read
in full by the Clerk, moved its passage and adoption.
Secinded by Commissioner Rollins and carried by the following vote of the Commisaon.:
Commissioner Coleman
Aye
If Gut
Aye
If Higgins
Aye
" Lodge
Aye
Rollins
Aye
said Resolution No. 567 being in words and figures as follows:
RESOLUTION No. 567.
A RESOLUTION OF THE'' CITY COMMISSION OF THE CITY OF SANFORD, FLORIDA, AGREEII3G TO A
MODIFICATIDN AND SETTLEMENT OF A CONTRACT BETWEEN THE CITY OF SANFORD AND FIDUCIARY
COUNSEL . INC. DATED JUNE 152 1936, RELATING TO CERTAIN BONDS OF SAID CITY AND JUDGMENT
HELD BY FIDUCIARY COUNSEL , INC.
WHEREAS, the City of Sanford, Florida, under date of June 15, 19381, entered into a
written agreement with FIDUCIARY COUNSEL , INC., the holder at that time of fifty bonds
of said City described as Bonds Nos. 101 -120, inclusive, Nos. 221 -230 , inclusive, Nos.
292 and 2814 -300, inclusive, Nos. 351 -355, inclusive, Nos. 365,366, 363 -36, inclusive, and
No. 397 of the City of Sanford Improvement bonds, Series 00, dated July 1, 1926, and
coupons Nos. 21 22 23 of said bonds and maturing respectively January 1, 1937, July 1,
1937 and January 1, 1936, and said CITY OF SANFORD agreed thereby to pay to said
Fiduciary Counsel , Inc. , the sum of fifty cents on the dollar of the face value of
said bonds and past due coupons or judgment thereon, said bonds to be delivered as paid
for, and said City further agreed to pay 3% interest per annum from the lst. day of January
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MINUTES
CITY COMMISSION, SANFORD, FLORIDA,_ January 8 at 7 :30 P U-19 40_
1938, on the unpaid portion of the amount due under said contract, and said contract
further provided that all bonds delivered should have July 1, 1938, and subsequent
coupons attached and further that the amounts agreed to be paid under said contract
should be fully paid within a period of twelve months from the date thereof; and
said City of Sanford paid to said Fiduciary Counsel , Inc., the sum of $7500.00 and
received of and from said Fiduciary Counsel Inc., 15 of the aforesaid bonds of a per
value of 415,000.00 namely : Bonds numbers 101 to 115, inclusive, with July 1, 1938,
and subsequent coupons attached, and pursuant to the terms of said contract final
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judgment was entered in the United States District Court in and for the Southern District
of Florida_ on the 25th day of July , 1938, in favor of Fiduciary Counsel Inc., and against
the City of Sanford, Florida., for the sum of $4476.54 plus the costs therein taxed in
the sum of $23.26 plus interest thereon at the rate of 5o per annum from the 25th day of
July, 1936, said judgment being upon the aforesaid coupons Nos. 21, 22 and 23 of the
aforesaid bonds; and
WHEREAS the said City of Sanford, Florida, was unable to make payments on said
contract in accordance with the terms thereof and said FIDUCIARY COUNSEL, INC., has
agreed to a modification and settlement of said contract and to accept thirty —five
Refunding Bonds, Series A, of petitioner dated March 1, 1937, with March 1, 1940,
and subsequent coupons attached and the sum of $875.00 in payment of matured coupons
thereon, and the sum of 46343.75 in exchange for the remaining thrity —five of the
aforesaid bonds held by said Fiduciary Counsel, Inc., and satisfaction of the aforesaid
j udoment
NOW THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF SANFORD
FLORIDA:
That the aforesaid modification of s?id contract between the City of � nford,
Florida and said Fiduciary Counsel, Inc. be and the same is hereby accepted and that
City of Sanford, Florida, Refunding Bonds, Series A, Nos. 4469 to 5003, both inclusive,
with March 1, 1940, and subsequent coupons attached be delivered to said Fiduciary
Counsel, Inc. or its attorney and that the sum of $675.OU be paid to said Fiduciary
Counsel Inc. for the matured coupons on said Refunding Bonds and the further sum of
$6,343.75 be paid to said Fiduciary Counsel, Inc., upon the surrender of bonds Nos.
116 to 120 , inclusive, Nos. 221 -23U inclusive, Nos. 292 and 294 -300, inclusive, Nos.
351 -355, inclusive, Nos. 365, 366, 363 -386, inclusive and No. 397 of the aforesaid
City of Sanford Improvement Bonds, Series OQ, dated July 1, 1926, with coupons maturing
July 1, 1938, and subsequent coupons attached; and delivery of a satisfaction of the
aforesaid judgment.
BE I'P FURTHER RESOLVED that the City Attorney be and he is hereby directed to
obtain permission from the United States District Court in and for the Southern District
of Florida., to effect a settlement of the aforesaid contract as hereinbefore set forth
and that the City Clerk be and he is hereby authorized to effect said settlementof this
contract in accordance with this Resolution.
BE IT FURTHER RESOLVED that this Resolution shall become effective immediately
upon its passage and adoption.
Passed and adopted this 6th day of January 1940.
Attest: ( Seal)
H N Sayer
City Clerk.
-Walter S. Coleman _
Mayor
G.E.Rollins
Edward Higgins
H. James Gut
M.J.Lodge
As the City~Commission of the
City of Sanford, Florida.
MINUTES
SANFORD, FLORIDA, Jan. _6 S a t 7 : 30 P 19 40
CITY - COMMISSION, _
Request next received from Mr. H.J.Lehman , manager of Sanford State Farmers'
Market that " Slow" traffic signs be placed on French Avenue north and south of the
entrance to the market.
Thereupon, on motion duly adopted Supt. M oughton was instructed to have the
aforesaid traffic signs painted on the street on French Avenue at this location.
On motion duly carried, Supt. koughton was next authorized and instructed to
make the necessary repairs to the baseball diamond at the Municipal Athletic Field so
as to have it in good condition for the spring training season.
Further consideration next given to the amount of the donation authorized
at the meeting of December 18, 1939 to the colored Woman's Club toward sponsoring the
WPA colored sewing room project for the ensuing year.
Thereupon, Commissioner Higgins moved that $40.00 be donated to the colored Woman's
Club toward sponsoring this project for 1940.
Seconded by Commissioner Lodge and carried.
Upon the request and recommendation of ivir. Allan Stewart, manager of the Municipal
Golf Course, and on motion of Commissioner Higgins, seconded by Commissioner Gut
and carried, the Coa,fiiission next appointed a committee consisting of the following
members of the liunicipal Golf Course to act in the capacity of an Advisory Board.
Mrs. F.D.Scott
Miss Dorothy Powell
Andrew Carraway
H.H.Coleman
John Ludwig
G. yd . Spencer.
There being no further business the meeting then adjourned until 7:30 o'clock P.M.
January 10, 1940.
Mayor.
Attest:
CA
City C� .
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