022440250 MINUTES
CITY COMMISSION, SANFORD, FLORIDA, M Pbrl ar_y P4 10 A 19-
The City Commission of the City of - anford, Florida met in adjourned session at the
City Hall in the City of zanford, Florida, at 10:0U o'clock A.M. February 24, 1940.
Present: Commissioner alter 5. Coleman, Mayor
If H Jemes Gut
If Edward Hi --ins
It fir, J Lodge
It G L Rollins
City Attorney Fred R. - Filson
City Clerk H N Sayer.
&eeting called to order by the Chairman who announced that the purpose of the
meeting was to confer with air. Hied L Foster, Lr V C Babcock and Attorney Carl T
Pleus, representatives of the Babcock Aircraft Corporation, with further reference to
their proposal to construct and operate an aircraft manufacturing plant at the Municipal
Airport.
Lr Foster then advised the Commission that the Babcock Aircraft Corporation is ready
to accept the City's offer of the municipal airport property for the construction and
operation of tlis factory, under the terms of agreement authorized at the meeting of
September 1, 1939 whereby the City will deed this property to said corporation upon
their construction of a plant that will cost approximately $250,000.00, and which
will employ 100 persons with an annual payroll of 4250,000.00
Thereupon, after a lengthy discussion, Co.-r.triissioner Hi_ -ins moved that City
Attorney 71ilson be instructed to prepare for consideration at the next meeting,
a deed of conveyance of the municipal airport property to the Babcock Aircraft
Corporation, to be pieced in escrow at the Sanford Atlantic National Bank, 'also
an escrow agreement in accordance with the aforesaid agreement, including a stipulation
that the City will deed 100 feet of slater front property with riparian rights abutting on
Lakevlonroe, which will be designated by said corporation; and that instructions to
the bank be embodied in said escrow egreernent, that upon failure of the Babcock Aircraft
Corporation to carry out the proposed plans within a period of two years, the deed of
conveyance to be returned wo the City
Seconded by Commissioner uut and carried.
There being no further business the :meeting adjourned.
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Attest:
City Cie k
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