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0107361 [1 1 1 I Ii L� J MINUTES CITY COMMISSION, SANFORD, FLORIDA, .-Tan a ry 7, 7:30 P M 36 The City Commission of the City of Sanford, Florida, met in regular annual session at the City Hall in the City of :anford, Florida, at 7:30 O'Clock P.M. January 7, 1936• Present: Commissioner T.L.Dumes, Mayor. If W.A. Leffler If H.J.Lehman " S. 0. Shinholser If V. A. Speer Commissioner -Elect W.R.Dupree if If P.N.Whitehurst. City Attorney Fred R.Wilson City Clerk F.S.Lamson Chief of Police R.G. Williams. Meeting called to order by the Chairman. Minutes of Regular Meeting of December 23rd. 1935, read and approved. Commissioner Lehman next introduced Resolution No. 482 and moved its passage and adoption. Seconded by Commissioner Shinholser and carried by the following vote of the Commission: Commissioner Dumas Aye " Leffler Aye if Lehman Aye If Shinholser Aye if Speer Aye said resolution No. 482 being in words and figures as follows, to -wit: RESOLUTION N0. 482. A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF SANFORD, FLORIDA, RELATIVE TO PROPOSED AMENDMENTS OF FEDERAL STATUTE KNOWN AS THE "WILCOX MUNICIPAL BANKRUPTCY BILL." WHEREAS, the City of Sanford, Florida, has an indebtedness at this time of approximately $6,400,000.00 in the payment of a large portion in which it has been in default since the first day of July , 1929, and approximately 8%o of its bonds and certificates of indebtedness are in the hands of a Bond Holder's Protective Committee and said City of Sanford has paid its said Bond Holder's Protective Committee the sum of $591,368.85 which has been a.il that the said City of Sanford has been reasonably able to pay upon said City indebtedness and perform its functions of government; and, WHEREAS, said City of Sanford, Florida, has an assessed valuation of all taxable property within its limits for the year 1935 of $6,459,961.48, which is a reasonable and fair cash valuation of all of the taxable property within the corporate limits within the City of Sanford, Florida, which has a population of only 10,797, and the payment of said indebtedness in full and as contracted is beyond any reasonable expectation and hope and said City has been unable to effect a settlement with the Bond Holder's Protective Committee of its indebtedness and the City Commission of 475 476 MINUTES CITY COMMISSION,. SSANFORD, FLORIDA, January 7, 7:30 P M —19 36 said City feels that an adjustment and settlement of its indebtedness is its only hope of survival and progress as a governmental unit,and political subdivision,and, WHEREAS, recent Congressional investigation has disclosed that the charges of such Bondholders' Protective Committees for their services to the holders of said obligations are far in excess of what is reasonable and just, and the holders of such obligations have not received a just proportion of the funds paid to them by the taxing units affected, with which payments such taxing units are morally and rightfully concerned; and WHEREAS, The Congress of the United States enacted a statute commonly known as the "Wilcox Municipal Bankruptcy Bill ", which was designed to authorize the several bankrupt cy courts of the United States to adjust the indebtedness of taxing units which are unable to pay their indebtedness in full, which statute requires the consent of not less than- fifty-One percent of the holders in amount of the indebtedness of the taxing unit before it can apply to the court for relief, and the consent of sixty -six and two- thirds percent in amount of the ca.ims of each class of creditors whose claims have been allowed, and the consent of creditors holding seventy -five percentum in amount of the claims of all c asses of the creditors of the taxing unit affected before the court can approve and make effective a settlement agreed upon, but by reason of the inability of many taxing units to obtain the consent of their creditors to a settlement of their indebtedness, such taxing units have not been able to obtain the relief sought to be conferred by such laws; and WHEREAS, The City Commission of the City of Sanford, Florida, is of the opinion. that Bondholders Protective Committees should be regulated by law in the interest of both the holders of the obligations of taxing units deposited with such committees, and in the interest of the taxing units in default in the payment of such obligations, and that the "Wilcox Municipal Bankruptcy Bill" should be amended so 8.8 to facilitate the adjustment of the indebtedness of taxing units unable to pay their obligations in full as contracted. Florida: NOW,THEREFORE, BE IT RESOLVED by the City Commission of the City of Sanford, That the Congress of the United States be, and it is hereby memorialized to enact such legislation as may be proper and necessary to subject Bondholders Protective Committees to a proper Federal Agency with authority to regulate their charges for services rendered to depositors of the obligations of taxing units, and also to require the deposit with such agency by such Bondholders Protective Committees of a list of the names and addresses of the actual holders and owners of the obligations deposited with such committees, and to authorize such Federal agency to assist in effecting a settlement of the indebtedness of the taxing unit whose obligations have been deposited with the Bondholders Protective Committees, and that the "Wilcox Municipal Bankruptcy Bill" be amended so as to extend its effectiveness for a period of not less than two years after the expiration thereof, as now provided therein, and so as to facilitate and expedite the adjustment and settlement of the indebtedness of municipalities and other taxing units unable to pay such indebtedness in full. 1 1 1 1 1 477 MINUTES CITY COMMISSION, SANFORD, FLORIDA, January 7 at 7:30 P Ai1936 BE IT FURTHER RESOLVED that the foregoing resolution shall become effective The Commission next approved rental of property in St. Gertrude's Addition described as Lots 2 and 4 and that part of Lot $ lying south of Seminole Boulevard across said Lot 8 all in Block X , to E.A.Londonberg for the year commencing July 1st, 1935, at a price of Two City of 6anford bonds, after which, on motion of Commissioner Speer, seconded by Commissioner Lehman and carried, the meeting adjourned sine die. The Commission then re- convened for purposes of organization., Mr. Dupree and Mr. Whitehurst signing the oath of office and being seated as Commissioners of the City of Sanford, Florida, for three year terms each. The first order of business being the election of a Mayor for the year 1936, Commissioner Leffler offered the name of Commissioner Dumas and moved his re- election for the ensuing year. Seconded by Commissioner Shinholser. Thereupon Commissioner "Shitehurst moved that the nominations be closed. Seconded by Commissioner Dupree and unanimously carried. Thereupon the vote was taken upon the re- election of Commissioner Dumas, and upon all voting Aye, Commissioner Dumas was declared to have been unanimously elected Mayor of the City of :anford , Florida, for the year 1936. A Committee, headed by Mrs A.M.Philips, next presented request for permit to a conduct7Seminole County Fair under the auspices of the Seminole County Home Demonstration end Agricultural Fair Association Inc., similar to that conducted by this organization in February, 1935• Thereupon considerable discussion arose as to the precedent which would be set by waiving the license tax on the carnival section of the Fair .,City Attorney Wilson advising that a Supreme Court ruling exempted Fairs from paying license taxes. Thereupon Commissioner Shinholser moved that the permit for the Fair as requested be granted. Seconded by Commissioner Dupree and carried over the dissenting vote of Commissioner Leffler. Thereupon there being no further business, and on motion of Commissioner Shinholser, seconded by Commissioner Whitehurst and carried, the meet* ad' ed. v � 1 Mayor. Attest: City Clerk. immediately upon its passage and adoption. Passed and adopted this 7th day of January 1936. T.L.Dumas W.A. Leffler V A Speer S.O.Shinholser H.J.Lehmen As the City Commission of the Attest: City of 6anford, Florida. F.S.Lamson As City Clrk. ( Seal) The Commission next approved rental of property in St. Gertrude's Addition described as Lots 2 and 4 and that part of Lot $ lying south of Seminole Boulevard across said Lot 8 all in Block X , to E.A.Londonberg for the year commencing July 1st, 1935, at a price of Two City of 6anford bonds, after which, on motion of Commissioner Speer, seconded by Commissioner Lehman and carried, the meeting adjourned sine die. The Commission then re- convened for purposes of organization., Mr. Dupree and Mr. Whitehurst signing the oath of office and being seated as Commissioners of the City of Sanford, Florida, for three year terms each. The first order of business being the election of a Mayor for the year 1936, Commissioner Leffler offered the name of Commissioner Dumas and moved his re- election for the ensuing year. Seconded by Commissioner Shinholser. Thereupon Commissioner "Shitehurst moved that the nominations be closed. Seconded by Commissioner Dupree and unanimously carried. Thereupon the vote was taken upon the re- election of Commissioner Dumas, and upon all voting Aye, Commissioner Dumas was declared to have been unanimously elected Mayor of the City of :anford , Florida, for the year 1936. A Committee, headed by Mrs A.M.Philips, next presented request for permit to a conduct7Seminole County Fair under the auspices of the Seminole County Home Demonstration end Agricultural Fair Association Inc., similar to that conducted by this organization in February, 1935• Thereupon considerable discussion arose as to the precedent which would be set by waiving the license tax on the carnival section of the Fair .,City Attorney Wilson advising that a Supreme Court ruling exempted Fairs from paying license taxes. Thereupon Commissioner Shinholser moved that the permit for the Fair as requested be granted. Seconded by Commissioner Dupree and carried over the dissenting vote of Commissioner Leffler. Thereupon there being no further business, and on motion of Commissioner Shinholser, seconded by Commissioner Whitehurst and carried, the meet* ad' ed. v � 1 Mayor. Attest: City Clerk.