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MINUTES
CITY COMMISSION, SANFORD, FLORIDA, Dec. 17 at 7:30 P M 19- 40
The City Commission of the City of Sanford, Florida, met in adjourned
session at the City Hall in the City of Sanf ord, Florida, at 7:30 o'clock P.M.
December 17, 1940.
Present Commissioner � --aalter S. Coleman, Mayor.
" H James Gut
Edward Higgins
M.J.Lodge
G.E.Roliins
Commissioner —Elect W.C.Hill
City Attorney Fred R.ti'ilson
City Clerk H N Sayer.
Meetingccalled to order by the Chairman.
Further consideration next given to the following proposal submitted by
Ed.C.Wright & Company of St. Petersburg, as a modified plan for refunding the
balance of Sanford's unrefunded indebtednes : The pity issue new bonds for ninety
percent of the principal and interest of said bonds, said bonds to be dated Januaryl,
1941, and mature January 1, 1978, and to bear interest as follows: 110 for first year
2j for second year , 21� for third year, 3% for fourth year , 3 for fifth year and
4'/% thereafter.
Thereupon, after considerable discussion, and on motion of Commissioner Rollins,
seconded by Commissioner Gut and carried, the Commission rejected the aforesaid pro-
posal of Ld.C.17right & Company and instructed the Clerk to submit them a counter proposal
for refunding all of the outstanding unrefuAs� ,Odbonds and interest thereon, as follows:
Issue new bonds for seveny per cent of the principland interest, said seventy percent
being $163,938.00, calculations being made to January 1, 1941, said bonds to be dated
January 1, 1941, and mature January 1, 1978, subject to call, and to bear interest
as follows: 1p for first year, 2� for second yeas, 2j� for third year, 3A for fourth
year; 30 for fifth year and 4p thereafter. The aforesaid bonds to be serviced within .
the present debt service requirements and shell be callable at any interest bearing
date. The holders of the unrefunded bonds to pay the court cost in the Bankruptcy
proceedings and also the court costs of validating the new bonds and the printing and
approving opinion thereof.
Letter next read from Mrs. i' C. Carlson of 115 N. Jessamine Avenue objecting to
the billboard that vies rebuilt at the southeast corner of First Street and Jessamine
Avenue, and requesting the Commission to have same removed.
Thereupon after careful consideration, and in view of the fact that a bill-
board has been at this location for a number of years without any objections from the
adjoining property owners, and the newly erected billboard is merely a replacement of the
old one, from which permit has already been granted, it was the opinion of the Board
that no action should be taken to have the new billboard removed.
Petition next received from merchants and business men on First Street between Park
Avenue and Oak Avenue thet strings of colored lights be suspended over First Street in
this block.
Thereupon in view of the fact that no funds are available at this time for the
installation of colored lights covered by this petition, same was ordered filed for
future consideration..
Bill of Colclough Realty Company in amount of $514.20 covering premium. due
December 15, 1940, for Public Liability and Property Damage insurance on City's
392 MINUTES
CITY COMMISSION, SANFORD, FLORIDA, _Dec 17 7:30 P M 19 40
fleet of passenger cars and trucks, next presented, and on motion duly carried, same was
approved and payment authorized
On motion duly carried, the Commission next authorized the employment of Fred W.
Hogan in the Recreation Depe_rtment for another month beginning Lecember 3rd. , at a
salary of $62.40.
There being no further business the meeting adjourned.
®R
Attest:
01; t erk.
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M I N U T E S
City Commission, Sanford, Florida, December 23, at 7:30 P M 1940.
The City Commission of the City of Sanford, Florida, met in Regular Session at
the City Hall in the City of Sanford, Florida, at 7:30 O�clock P.M. December 23, 1940,
but due to lack of a quorum,
30, 194o.
Attest:
y lerk.
immediately adjourned until 7:30 o'clock P.M. December
Mayor.
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