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062222■ 39 'MINUTES OF MEETING OF CITY COMMISSION JUNE 22 91922 The.. Commission of the City, o f Sanford, Florida, met in, session at ­;5g 30 P,M. at the City Hall, on Thursday, June- 22nd.1922. z PRESENT; Commissioners, C.E.Henry S 0 Ohase. y. Forrest Lake ABSENT., r NONE 'RESENT: Geo A DeCottes, Special Counsel L H Philips, City Clerk At'6:00 P.M. the Ghairman announced that the hour had arrived for the opening of bids for the purchase of bonds to the amount of 0325,000 00 of an authorized issue of 6% bonds, of the City of Sanford, Florida, in the sumEof.0625,,000.00, and ' thereupon, all sealed bids up to that time received by the Commission were ordered . to be opened and read, and the following bids were then opened and read,to -wits 1. Breed,Elliott A Harrison, and J C Mayer & Co., joint bidders, Amount of -'id: far, accrued interest and, a premium of ;'13,x911.00 for 6 bonds. 2 Spit.zer,Rorick & Co., and 14arx & Co., joint bidders, Amount.of bids Par, accrued Interest and a premium of $1,631-00 for 512-% bonds. 3. G B Sawyers '& Co., bidder;- amount of bid; 0339,850.00 with accrued interest foa 6% bonds or 0317,400.00 for 5 -bonds. 4. Fucker; Robinson & Co., bidder, amount of bid $323,500.00, and accrued int- erest .for -52 o bonds. 5. Blanchet, Thornburgh & Vandersall, bidder, amount'of bid;, 0344,825.00 with acorued interest for 6% bonds-. 6. Prudden & Co., bidder, amount of bid, $338,650.00 for 6% bonds. 7, Prudden & Co., bidder, amount of.bid; $319,637.50 and accrued interest for 6% bonds, or $319,637.50 with accrued interest, for 5V6 bonds. 8. Seminole County Bank, and Atlantic National Bank of Jacksonville, joint bid- f Aers, amount of bid, $326',050 00. with accrued interest for 6% bonds, or X326`,050.00 with accrued interest for 5;o bonds. 9 John Nuveen & Co., bidder, amount of bid; $339.697.00 with accrued interest ' for' -6% bonds. No further bids having been received, the Commission thereupon proceeded to (:onstder the bids submitted, and after a l(areful examination of all bids submitted came to the conclusion that the bid of Spitzer,Rorick & co.*and Marx & Co., joint . bidders for the purchase of bonds to the amount of 0325,000.00 of an authorized ,1 �� "ul issue of bonds of the.City.of Sanford, Florida,. in the sum of $615,.0001000 to bear interest at the rate of Five and one -half per centum per annum 4'as the best bid a � submitted and received for the pruohase of said bonds, said bid being in words and figures as follows, to -wit: "Sanford, Florida, June 22,1922 0 E.Henry S.O.Chase Forrest fake, as City Commission of Sanford.,' Flo `tida, Gentlement _ For $325 000.00 Improvement bond of the City of 5 ford, Florida dated Julylst, 1922 lst, 1922, denomination ;i�aavurning 5i` in of 1006 with principal. stir semi _ annual interest at. 5. per annum payable at some bank in New York City, delivered to us in Toledo; Ohio, ae:onmpanied by cam lete certified transcr4ree ' t of proceedings C Thompson, and final- approveing` opinnion of John attorney, we to pair you par" Val a ($325,000.00) accrued interest to date of delivery of bonds to us and.a premium Of R631000 Payment will be made in current funds. We hand you herewith certified' checks for $4875, being 1-A of bond issue as 'required, to be held as a guaranty that we will carry out the terms of our bid. Respeotfully submitt ed, SPITZFDR AORIGK & C" By 8 M Dann . Agent. MAiRN & CO.; By # wat)URR i Agent* Thereupon the following resolution was off ®red by Oommissianer S 0 Qhase and Y the same was duly adopted:' o WHERE", SPITZER RORICK & COMPANY; of Toledo, Ohio, and ,& COMPANY, of Rirmingham,Alabama, have submitted a proposal for the purchase of the $325,000.00-.City, of Sanford, Florida Sig per Cent. Improvement Bonds, to be dated July let, 1922, all, of said bonds maturning July lst,1952, said proposal being in words .and - gigures as follows, to -wits " Sanford Florida, June 22,1'". 0 B Henry 4f di .' 8.9O.Chase t "orrest eke As City • ' ission of Sanford Plo�rida, . Jentlemen: For S ford, Florida., �t`ad I195E4einndenominationhof Julyflst I9EE matur�i43EJulyls© $1000 wi h principal and i�- annual interest at ' S per annum payable at . some bank - in New', yor City delivered to us in Toledo, Ohio,' a000mpanied by: complete' certified transcript of4rooeedings,and fig nal approving opinion of John C Thompson, attorney, we agree to pay' you par value ($3250000.00 wao ed interest to date of delivery of bonds to,us an � a premium of •,.` *00 "made $16510 Faymenf Fill be in c- arrent funds. We hand you herewith certified checks for $48750, being l� _of bond issue as required, to be held as a guaranty that we will carry out the terms-of our bid. Resp�ot fully submitt e4L SPITZEI3,RORICK 8c CO. M � . Agent- MARY & 00. -, By, W Watline A ont g� y H ,t is the opinion of this Comnsissio that the bid of Spitzer,Rorick 8c Qom= •. n9 to pu has skid bonds bearing I a rate of interest r Mlib M 0 of 5 at par, with accrued interest plus a premium of 01631.00, as above stated is the highest and best bid received for the purchase of said bonds., Therefore. BE IT RESOLVED, That the vid of said Spitzer, Aorick & Co. and Marx & Co. for the purchase of said issue of bonds bearing interest at the rate of W per annum,. at,par, with accrued interest plus a premium of 01631.00, be, and the same is hereby accepted.,and BE IT FURTHER RESOLVED, That the sale of said bonds be and the same is here- by award6dtto Spitzer, Rorick & -do, and Marx & Co. upon the terms and conditions -set forth in theri said bid, wherein they offered to purchase said bonds bearing int- erest at the rate of Wo per annum, at par with accrued interest, plus, a premium of $1631.-00 and BE IR FURTHER RESOLVED, That said bonds of the City of Sanford, State of Fla, to the amount of $325,000.00 with straight maturity of thirty years, bearing interest at the'rat-e of 52 per annum,' be delivered to Spitzer, Roriok & Co. and Mar.x & Co. upon the payment- ti4refor by said Spitzer.Rorick Company, and Marx & Company of the pair value of -said bonds with accrued interest to date of delivery, P3.u*s a premium of ;P1631.00 Done and ordered-this 22nd. day of June A.D.1922. C.E.Henry 3 0 Chase Forrest Lake As" the Uommission of Banford Florida. There being no further business the fieftinsion thereupon adjourned until' its next regular meeting, Maydr, Attest: UitY Auditor & Clerk. W�'- � 39