040632f�
1
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MINUTES.
CITY COMMISSION, SANFORD, FLORIDA, Argil- 6 at 7 :3n P M 19 3,_2_
The City Commission of the City of Salford, Florida, met in Special Called
Session at the City Hall in Sanford, Florida at 1:30 O'Clock P.M. April 6, 1932.
Present: Commissioner T.L.Dumas, Mayor.
" H.J.Lehman
" V.A.Speer
" 0.A.Byrd
" W.A.-Leffler
City Attorney Fred R.Wilson
City Clerk, F.S.Lamson
Meeting called to order by the Chairman.
Representative of the St. Johns River Line appeared with reference to private dock
and warehouse located on City property at the foot of Myrtle Avenue, and on motion duly
adopted, " tenant at will" lease was ordered executed between this Company and the City for
the use of the aforesaid property at an anmaal rental of $25.00.
On motion of Commissioner Lehman, seconded by Commissioner Byrd and carried by
the unanimous vote of the Commission, the following comunication was ordered addressed to
the City of Sanford Bondholders Protective Committee, said communication to be accompanied
by a certified copy of an excerpt from the minutes of this meeting authorizing its prepar-
ation:
Messrs. Kenneth M . Keefe
C.T. Diehl, and
Albert C Mittendorf,
as the Bondholders'
Protective Committee
of Sanford, Florida
35 Wall Street
New York City, New York.
Gentlemen:
In Re: City of Sanford, Florida.
" April 6, 1932
On January 11th, 1932, we communicated to you, through our city attorney, our
desire to begin negotiations for a permanent settlement of the bonded indebtedness of the
City of Sanford, and since that date a conference has been held with your Mr. Keefe and also
with your entire committee and its Florida attorneys, but nothing material was accomplished
at these conferences toward the end desired and we feel that the time has arrived for the sub-
mission of a definite proposition of settlement, and we therefore, on behalf of the City of
Sanford, Florida, make the following offer:
1. The principal of the bonded indebtedness of the City as of March 31st, 1932,
is the sum of $6,344,000.00, and this is to be considered the principal upon which interest
is to be paid as hereinafter stated, less any reduction in said principal that may take
place between the date hereof and completion of settlement.
2. All accrued interest upon principal is to be waived.
3. Time of payment is to be extended for a period of twenty -five years.
4. The City will pay interest upon the aforesaid principal indebtedness semi-
annually on the first days of January and July, as follows:
a. One per cent for the first ten years.
b. Two per cent for the next succeeding five years.
e. Three per cent for the next succeeding five years.
d. Four per cent for the next succeeding five years.
474' MINUTES
CITY COMMISSION, SANFORD, FLORIDA_ April 6 at 1:30 P M 1932
The date of the first payment of interest «shall be so fixed as to allow
time for-the collection of taxes in season to make such payment.
While the foregoing offer will mean a loss of some interest to our
bondholders, it is made after many months of deliberation and study of the problem,
We have taken into consideration not only the present ability of the city to pay, but
also what may be reasonably expected in the future. The almost unprecedented depreciation
in real estate values and general adverse business conditions that have prevailed since
early in 1926 have demonstrated that unless the-bondholders make a liberal concession
in the matter of interest payments, our city will be completely overwhelmed and never be
able to extricate itself. The state of uncertainty under which we are laboring and a
knowledge that our bonded indebtedness together with-interest at the present rates
can never be paid in full, have forced many of our citizens almost to the decision to
abandon their property, and we feel that the settlement suggested would restore the
confidence of our people and constitute an incentive to them to try to pay taxes and
continue to own their property, that this offer should be acceptable to the bondholders,
and that our city would be able to meet its obligations thereunder.
We trust, therefore, that you will communicate this offer to the bondholders
without delay in order that definite arrangements to carry out the plan may be made
before the time arrives for levying taxes for 1932. Details of the re- adjustment can
be worked out at a future date.
Yours very truly,
T.L.Dumas
C.A.Byrd.
H.J. Leh man
V.A.Speer
W.A.Leffler
As the City Commission of
the City of Sanford, Florida.
(Seal)
Copies to:
Hon. F.P.Fleming,
Jacksonville, Florida.
Messrs. L!Engle & Shands
Jacksonville, Florida. "
On motion duly adopted, the Clerk was next instructed to make payment out of
Debt Service funds on hand, of $30,000.00 to apply on judgments obtained by-Kenneth
Keefe, et al, and $509.00 to apply on judgment obtained by United Mutual Life Insurance
Company.
City Attorney Wilson :next presented to the Commission Master's Deeds conveyir
the following described property in the City of Sanford, Florida, to the City of Smford,
Florida, said property having been foreclosed on through the City Attorney's dffice
for non - payment of City taxes, and bought in by the City at the Masters Sale held
April 5th, 1932
Lots 6 and 7 Block 5 Tier 7 E.R.Trafford's Map of Sanford, Florida
Lot 9 Block 9 Tier C, E,R, Trafford's Map of Sanford, Florida.
Lot 6 Blk. 9 Tier H. E.R.Trafford's Map of Sanford, Florida.
Lot 10 Block 10 Tier D, E.R.Trafford's Map of Sanford, Florida.
Lot 6 Block F. of Neave's Addition. to Sanford , Florida.
Lot 7 Block C. Celery Avenue Addition to Sanford, Florida.
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1
1
1
1
MINUTES,
CITY COMMISSION, SANFORD, FLORIDA, Apri i 6 at 1: 30 P M 193
W. 44 ft. of Lot 5 of Robinson's Survey of an Addition to Sanford, Florida.
S 1/2
of
Lot 3
of
W . M'
Clark's
Sub.
of Block
24
of
Robinson's
Survey,
Sanford, Florida.
Lot 1
of
Block
25
Clarks
Subdiv.
of
Blks. 35
and
36
& E. 112 of
Blk 25
of Robinson's Survey.
Lot 39 Block G, of A.D.Chappell's Subdiv of Blks. G,K, and J, Sanford, Florida.
Lot 30 Block A, Buena Vista Estates, Sanford Florida.
N. 35 ft of Lot 61, B1ock,K, of Chappell's Subdivision, Sanford, Florida.
Lot 15 Block A, of Subdiv. of South Sanford Grant- Sanford, Florida.
N. 1/2 of Lot 53 Block D, of Subdiv. of South Sanford Grant, Sanford, Florida.
Lots 23 and 24 of Fla. Land & Colo. Co's. Adda. to Sou. Sanford, Sanford, Florida.
Lot 6 Block 6 Tier A. E.R.Trafford's Map of Sanford Fla.
E. 1/2 of Lot 1 Block B Tier B, E R Trafford's Map of Sanford, Fla.
Lot 2 Block B Tier E. E.R.Trafford's Map of Sanford, Fla.
Lot 3 Block 8 :'j',, E. R. Traff ord' s Map of Sanford., Florida.
Lot 4 Block S Tier E. E.R.Trafford's Map of Sanford, Florida.
Haven, Florida, with reference to leasing the Hotel Mayfair, and in answer thereto the Clerk
was instructed to notify this firm that current State and County taxes paid by a lessee
of this property would not apply on purchase price of the Hotel in the event of its
Lot 5, Block S Tier E,, E R Trafford's Map of Sarf ord, Florida.
E. 112 of Lot 6 Block 11 Tier A, E R Trafford's Map of Sanford, Florida.
Lot S Block 11 Tier G, E R Trafford's Map of Sanford, Florida.
Lot 3 Florida Land & Colo. Co's Addn. to Sou. Sanford, Sanford, Florida.
Lot 3 Block 4 Tier 9, E R Trafford's Map of Sanford, Florida.
Lot 4 Block 4 Tier 9, E.R.Trafford's Map of Sanford, Florida.
Lot B Block 7 Tier B, E R Trafford's Map of Sanford, Florida.
Lot 6 Block 9 Tier G, E R Trafford's Map of Sanford, Florida.
Lot 6 Block 10 Tier 13, Seminole Park, Sanford, Florida.
Beg 50 Ft. W. of N E Cor of Lot 3, Run S. 117 ft W. 50 ft. N. 117 ft E. 50 ft. to Beg.
Robinson's survey of an Addition to Sanford Florida.
Lot 5 Block B Tier D, E R.Trafford's Map of Sanford, Florida.
Lot S Block 9 Tier D, E R Trafford's Map of Sanford, Florida.
Lot 3 Block 10 Tier C, E R. Trafford's Map of Sanford, Florida.
Lot 10 Block 35 Clarks Subdiv. of Blocks 35, 36 and E 1/2 of 25 , Robinsons Survey, Saford.
Grant,
S. 1/2 of Lot 22 Block B, Subdiv of Sou. Sanford, Sanford, Florida.
N 1/2 of Lot 39 Block C, of Subdiv of South Sanford Grant, Sanford Fla.
On motion duly adopted, lease heretofore authorized to be entered into with the
Texas Oil Company for space at the Municipal Aviation Field upon which to locate gasoline
and oil dispensing equipment, was ordered amended so as to comprise a tract of land 50 feet
East and West by 20 feet North and South instead of 20 feet square as originally provided.
The Commission was next notified that the'Sanford Country Club Inc., lessees
of the Municipal Golf Course, had surrendered their lease for this property and had
turned same back to the City.
Thereupon Commissioner Lehman moved that the operation of the Municipal Golf Cours
be place in the hands of the Seminole County Chamber of Commerce.
Seconded by Commissioner Leffler and unanimously carried.
Thereupon the Clerk was instructed to notify the officials of the Chamber of
Commerce of the action taken with reference to the Municipal Golf Course.
Communication next read from Touchton & Crittenden, Attorneys at Law, Winter
Haven, Florida, with reference to leasing the Hotel Mayfair, and in answer thereto the Clerk
was instructed to notify this firm that current State and County taxes paid by a lessee
of this property would not apply on purchase price of the Hotel in the event of its
MINUTES..
CITY COMMISSION, SANFORD, FLORIDA, ri 7 8 Sit 1:30 P u 19--32-
purchase by the lessee; also that the City would arrange to take care of any State
and county taxes delinquent at the time of execution of such lease.
Themeeting then adjourned.
Attest:
City Clerk.
Mayor.