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082824792 0 ADJOURNED SESSION OF CITY COMMISSION AUGUST 98th, 1924 at 2:00 P.M. The City Commission of the City of Sanford, Florida, met at the City Hall at Sanford, Florida, on the 28th day of August, *A. 'D. 1924, at 2:00 P.v2. Present: Commissioners: Forrest Lake and C. J. Marshall Absent:. *Commissioner: S. 0. Chase. At 2:00 P.M., the Chairman announced that the hour had arrived for the open- ing of bids for the purchase of bonds to the am .6unt of 160,000.00, of an autjorized issue of five and one -half (51) per cent. Public Utility Bonds, of the City of Satin..:.. ford, Florida, authorized by Ordinance No.69, duly adopted on the 10th day of Decem- ber, A. D. 1923, and Thereupon, all sealed bids up to that time received by the City Commission were ordered to be opened and read and the following bids were then and there opened and read: as follows, to -wit: No. BIDDER Atlantic National Bank..Jacksonville, Fla. And Prudden & Co. Toledo, Ohio. For the $160,000.00, Gas Plant, Public Utility Bonds, as advertised, and for the $75,000.00 Public Improvement Bonds, as advertised ............................ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 Spitzer Roick & Co.. For the $160,000.00 Gas Plant, Public Utility Bonds, as advertised.............. 2 -a -For the $75,000.00 Public Improvement Bonds, as advertised ..................... 2 -b -For the $160,000.00 Gas.Plant,Public Utility Bonds, as advertised, and for the $75,000.00 Public Improvement Bonds qsadvertised.. ......................0.006. 2 -c -For the $160,000.00 Gas Plant, Public UtilttyyBonds, as advertised, and for the $7'5,000.00 Public Improvement Bonds as advertised ............................. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 - Stranahan, Harris & Otis For the $1602000.00, Gas Plant, Public Utiltity Bonds, as advertised .............. 3- a.-For the $160,000.00, Gas Plant, Public Utility Bonds, as advertised............... 3 -b -For the $75,000.00, Public Improvement Bonds, as advertiesed ...................... 3- c- Stranahan, Harris & Otis For the $75,000.00, Public Improvement Bonds, as advertised .. ..................... . . . . . . . . . . . . . . .-. . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 - Keane, Higbie & Co. RATE OF INTEREST 5VI Afo 5-z'% 5l 4% 5� I 5% 54% For the $160,000.00, Gas Plant, Public Utility Bonds,as advertised; and for the $75,000.00 Public Improvement Bonds, 5 as advert.,,........ ,.....4., ,0000,..,. AMOUIQT OF BID $24o,381.50 163,864.00 76,117.50 232,o86.00 223,250.00 161,766.00 156.966.00 75,831.00 73,581.00 236,386. �■w 793 RATE OF AMOUNT OF No. BIDDER 'INTEREST BID 5 - Wright, Warlow & Co. For the $160,000.00, Gas Plant, Public Utility Bonds, as advertised.......... A 163012.00 5- a- Wright, Warlow & Co. For the $160,000.00, Gas Plant, Public Utility Bonds, as advertised.......... . 5F 157,760.00 5- b- Wright, Warlow & Co., For the $160,000.00, Gas Plant, Public Utility Bonds, as advertised.......... 5 % 154,512.00 ..... .. ............................... 6 - Wright, Warlow & Co. For the $75,000.00 Public Improvement Bonds, as advertised .................. A 764552,50 6 -a -For the $75,000.00 Public Improvement Bonds, as advertised.................. 541fo 73,950.00 6 -b -For the $75,000.00 Public Improvement Bonds ,as advertised .................... 5 % 72,427.50 . ...... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 - Caldwell & Company and G. Be Sawyers Company: For the $160,000.00 Gas Plant, Public Utility Bonds, as advertised, and for the $75,000.00, Public Improvement Bonds, as advertised.................. 5I 239047.50 ....... ............................... - Otis & Company and Bruer & Boswotth. For the $160,000.00, Gas Plant, Public Utility Bonds, and for the $75,000.00 Public Improvement Bonds, as advertised... 5o 236,317.50 .. ............................... ......sees 9 - Marks & Company For the $160,000.00, Gas Plant, Public Utility Bonds, as advertised, and for the $75,000.00 Public Improvement Bonds, as advertised ........................sees.. 51% 238,910.33 ............ ............................... 9 -a -Marks & Company For the $160,000.00, Gas Plant, Public .Utility Bonds, as advertised, and for the $75,000.00 Public Improvement Bonds, as advertised .. ............................. 54% 231,733.33 9 -b -Marks & Company For the $160,000.00, Gas Plant, Public Utility Bonds, as advertised, and for the $75,000.00 Public Improvement Bonds, as advertised. ........ ....................... 5 % 227,133.33 10- John Nuveen & Co. For the $160,000.00 Gas Plant, Public Utility Bonds, as advertised, and for the $75,000.00 Public Improvement Bonds, as advertised ........................ 5o 239,731.00 a . . . • . . . . . . , . . • . . . . . . . . . . . . . . . . . . . . . . . . . . . • . . 11- Bohmer- Reinhart & Co. and Breed,Elliott & Harrison. For the $160,000.00 Gas Plant, Public Utility Bonds, as advertised, and for the $75,000.00 Public Improvement Bonds, as advertised . ............................... 5e 238,219.50 "794 No further sealed binds having been received, the Commission proceeded to consider the bids submitted and after careful consideration and examination of all bids submitted came to the conclusion that the bid of Atlantic National Bank, of Jacksonville, Fla., and Prudden & Company, of Toledo, Ohio. was the highest and best bid received, Thereupon, Commissioner C. J.. Marshall, offered the following resolution, which was unanimously adopted: Whereas, Atlantic National Bank of Jacksonville,. Fla., and Prudden & Co. of Toledo, Ohio, have submitted a proposal for the purchase of $160,000.00, City of Sanford,Florida, Public Utility Bonds, to be dated July lat., 1924, bearing interest at the rate of Five and one -half (5) per cent. per annum, interest payable January first and July first of each year, both principal and interest of said bonds payabl at The Chase National Bank of New York, in the State of.New York, of the demomivatic of One Thousand ($1,000.00) Dollars, each maturing July lat.., 1954, authorized by are Ordinance No.69 duly adopted by the City Commission.of the City of Sanford, Florida, on the 10th day of December 1923;.said proposal being in words and figures as follows, to -wit: Sanford, Florida, August 29, 1924. Hon-. Forrest Lake, S. 0. Chase and C. J. Marshall, as City Com- mission of City of Sanford, Sanford, Florida. Gentlemen:- For the $160,000.00 Gas Plant Public Utility Bonds of the City of Sanford, Florida, dated 8uly lst, 1924 and maturing July lst, 1954, principal and dB xt annual interest payable at some Bank in New York City, denomination $1000.00, and For the $75,000.00 Public Improvement Bonds of the City of Sanford, Florida, dated July lat. 1924 and Maturing__July lst, 1954, principal and semi - annual interes payable in New York City, denomination $1,000.00, both issues bearing interest at the rate of 51% per annum. We will pay the sum of $240,351.50 - -- DOLLARS, and accrued interest to date o delivery. Payment for these Bonds to be made by us in current funds when ready for delivery and approved by Messers Caldwell & Raymond,- a copy of said Opinion being delivered to us at time of delivery of the Bonds. We enclose herewith Cashier's Check for $4700.00 as evidence of our good faith. This check is to be immediately returned to us upon demand, if for any reaso the Bonds are not delivered to us, or should this offer not be accepted. and AND Respectfully submitted, ATLANTIC NATIONAL BANK OF JACKSONVILLE, FLA. By. G. W. FRAZIER, Agent PRUDDEN & COMPANY) of TOLEDO, OHIO. BY G. W. FRAZIER, Agent. Whereas, it is the opinion of this Commission that the bid of Atlantic National Bank of Jacksonville, Florida. and Prudden & Company, of Toledo, Ohio., offering to purchase said bonds, bearing interest at the rate of Five and one -half (5) per cent. per annum, at par, with accrued interest to date of delivery, Plus a premium of Three Thousand, Six Hundred and Sixty -four ($3,664.00) Dollars is the Ir I 795 highest and best bid received for the purchase of said issue of bonds. THEREFORE BE IT RESOLVED that the bid of Atlantic Nat.Bnk, of Jacksonville, and Prudden & Company, of Toledo, Ohio, for the purchase of said issue of bonds up the terms and conditions and at the price hereina.bove set forth, be, and the same isl, hereby accepted, and BE IT FURTHER RESOLVED, that the sale of said bonds be and the same is hereb awarded to Atlantic National Bank of Jacksonville, Florida, and Prudden & CO. of Tolddo,0., upon the terms and conditions set forth in their bid, as aforesaid, and BE IT FURTHER RESOLVED, that the said bonds of the City of Sanford, Florida, in the amount of $160,000.00, authorized in the manner and at the time aforesaid, bearing interest at the rate of Five and one -half (5j%) per cent. per annum, upon payment therefor, be delivered to Atlantic.National Bank of Jacksonville, Florida,, and Prudden & Company of Toledo, Ohio. Attest: (SEAL) L. R. Philips. City Clerk. Forrest Lake. Mayor. The City Commission of the City of Sanford, Florida, met at the City Hall at Sanford, Florida, on the 28th day of August A. D. 1924, at 2:00 O,$Clock p.m. Present: Commissioners: Forrest Lake and C. J. wiarshall Absent: Commissioner: S. 0. Chase. At 2:00 O'clock p.11,. the Chairman announced that the hour had arrived for th opening of bids for the purchase of bonds to the amount of $75,000.00, of an autho ized issue of Five and one -half (5o) per cent, Improvement Bonds of the City of Sanford, Florida, authorized by Ordinance N0.70, duly adopted on the 10th day of December, A. D. 1923, and Thereupon, all sealed bids up to that time received by the City Commission were ordered to be opened and read and the following bids were then and there opened and read: as follows, to -wit: No. BIDDER 1 - Atlantic National Bank,Jacksonville,Fla. And Prudden & Co. Toledo, Ohio, For the Belk, 000.00, Ga.s Plant, Public Utility Bonds, as advertised, and for the $75,000.00 Public Improvement Bonds, asadvertised .............................. 0 ........... ...........................0000 2- Spitzer Roick Co. For the $160,000.00 Gas Plant, Public Utility Bonds, as advertised ............... 2 -a -For the $75,000.00 Public Improvement Bonds, as advertised ........................ 2 -b -For the x"160,000.00 Gas Plant, Public Utility Bonds, ad advertised, and for the "75,900.00 Public Improvement Bonds, as advertised ............... ................. RATE OF AMOUNT OF . INTEREST BID A% $240081.50 5io 163,s64.00 5I 76,117.50 W 232,0s6.00 wiw■ 796 No: RATE OF AMOUNT OF BIDDER INTEREST BID 2 -c -For the l60;,Qoo.00, Gas Plant, Public Utility Bonds, as advertised:, amd for the $75,000.00 Public Improvement Bonds as advertised ............................. 5 % 223,250.00 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 - Stranahan, Harris• & Otis For the $160,000.00, Gas Plant, Public Utility Bonds, as advertised.............. 51 161,766.00 3 -a -For the $160,000.00, Gas Plant, Public Utility Bonds, as advertised ............... 54% 156,966.00 3 -b -For the $75,000.00, Public Improvement Bonds, as advertised ............................... 1 5 % 75,931.00 3- c- Stranahan, Harris & Otis - For the $75,000.00, Public Improvement Bonds, as advertised .................... 54461 73,5111.00 .............. ............................... 4 - Keane, Higbis & Co. For the $160,000.00, Gas Plant, Public Utility Bonds, as advertised; and for the $75,000.00 Public Improvement Bonds, as advertised. ... ............................ 5if 236086.50 ............... ............................... 5 - ,Wright, Warlow & Co. For the $160,000.00, Gas Plant. Publbo Utility Bonds, as advertised .................. 51 163,312.00 5-a- Wright, Warlow & Co. For the $160,000.00, Gas Plant, Public Utility Bonds, as advertised ................. 541% 157,760.00 5-b- Wright, Warlow & Co., For the $160,000.00, Gas Plant, Public Utility Bonds, as advertised..... .............. 5 % 154,512.00 ............... .....0......................... 6 - Wright, Warlow & Co., For the $75,000.00 Public Improvement Bonds, as advertised................... ... ....... W 76,552.50 6 -a -For the $75,000.00 public Improvement Bonds, as advertised... .............. I ............. .. 54% 73,950.00 6 -b -For the $75,000.00 Public Improvement Bonds, as advertised... .. ............................. 5 % 72,427.50 . • . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 - Caldwell & Company and G.B.Sawyers Company: For the $160,000.00 Gas Plant, Public Utility Bonds, as advertised, and for the $75,000.00, Public Improvement Bonds, as advertised .... .............................., 5j 239,347.50. Otis & Company and Bruer & Boswo2th. For the $160,000.00, Gas Plant, Public Utility Bonds, and for the-$75.,000.00 Public Improvement Bonds, as advertised......... 51 236,317.50. . .. ...........,.................................. . 9 - Marks & Company For the $1603000.00, Gas Plant, Public Utility Bonds,as advertised, and-for the $75,000.00 public Improvement Bonds, as advertised ................. 51% 238,910.33 T. No. 9- a-Mark1t & Company RATE OF INTEREST For the $160,000.00, Gas Plant, Public Utility Bonds, as advertised, and for the $75,000.00 Public Improvement Bonds, as advertised............................... 5541% 9 -b -Marks & Company For the $160,000.00, Gas Plant, Public Utility Bonds, as advertised, and for the $75,000.00 Public Improvement Bonds, as advertised ............................. 5 % . . . . . . . . . . . . . . . . . . . . . . . . . . . ... . ... . . . . . . . . . . 10- John Nuveen & Co. For the $160,000.00 Gas Plant, Public Utility Bonds, as advertised, and for the $75,000,00 Public Improvement Bonds, as advertised .............................. 5� • . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . • 11- Bohmer- Reinhart & Co., and Breed, Elliott & Harrison. For the $160,000.00 Gas Plant, Public Utility Bonds, as advertised, and for the $75;000.00 Public Improvement Bonds, asadvertised ........... .................... 5e AMOUNT OF BID 231,733.33 227,133.33 239731.00 238,219.50 797 • . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . No further sealed bids having been received, the Commission proceeded to com- eider the bids submitted and after careful consideration and examination of all bids submitted came to the conclusion that the bid of Atlantic Nationa:Bank, of Jacksonvillj Florida, and Pruddem & Co., of Toledo, Ohio, was the highest and best bid received. Thereupon, Commissioner C. J. Marshall, offered the following resolution, which was unanimously adopted: Whereas, Atlantic National Bank of Jacksonville and Pruddem & Co., of Toledo, Ohio, have submitted a proposal for the purchase of $75,000.00, City of Sanford, Florida, Improvement Bonds, to be dated July lat., 1924, bearing interest at the rate of five and one -half (51%) Per cent. per annum, interest payable Jannary first and July first of each year, both principal and interest of said bonds payable at The Chase National Bank of New York, inI the State of New York, of the denomination of One Thousand ($1,000.00) Dollars each, maturing July 1st., 1954, authorized by Ordi- nance No-70, duly adopted by the City Commission of the City of Sanford, Florida, on the 10th day of December 1923; said proposal being in words and figures as follows, to -wit: Sanf6rd, Florida, August 28, 1924. Hon. Forrest Lake, S. 0. Chase and C. J. Marshall, as City Com- mission of City of Sanford, Sanford, Florida; { Gentlemen: - For-the $160,000.00 Gas Plant Public Utility Bonds of the City of Sanford, Florida., dated July let, 1924 and maturing July let, 1954, principal and semi- annual interest payable at some Bank in New York City, denomination $1,000.00, and For the $75,000.00 Public Improvement Bonds of the City of Sanford, Flori F6 0 1 dated July ist,,1924 and Maturing July 1st, 1954, principal and semi- annual.interest payable in New York City, denomination $1,000.00, both issues bearing interest at the rate of W per annum. We will pay the sum of $240,391.50 - -- DOLLARS, and 4o crued interest to date 66 delivery. Payment for these Bonds to be made by us in current funds when ready for delivery and approved by Messers Caldwell & Raymond, -a copy of said Opinion being delivered to us at time of delivery of the Bonds. We enclose herewith Cashier's Check for $47o0.0o as evidence of our good faith. This check is to be immediately returned to us upon demand, if for any reason the Bonds are not delivered to us, or should this offer not be.accepted. Respectfully submitted, ATLANTIC NATIONAL BANK OF JACKSONVILLE, FLA•-, AND BY G. W. FRAMER, Agent. PRUDDEN & COMPANY, of TOLEDO, OHIO. By G. W. FRAZIER, Agent. and Whereas,$ it is the opinion of this Commission that the bid of Atlantic National Bank, of Jacksonville, Florida, and Prudden & Co., of Toledo, Ohio, offering to purchase said bonds, bearing interest. at the rate of Five and one -half (5j) per cent. per annum, at par, with accrued interest to date of delivery, Plus a pr ftium ofOne Thousand Seven Hundred, Seventeen and 501100 ($1717.50) Dollars is the highest and best,bid received for the purchase of said issue of bonds. THEREFORE BE IT RESOLVED that the bid of Atlantic National Bank;of Jackson- ville, Fla., and Prudden & Co., of Toledo, Ohio for the purchase of said issue of bonds upon the"Iterms and conditions and St the price hereinabove set forth, be: and the same is, hereby accepted, and BE IT FURTHER RESOLVED, that the sale of said bonds be and the same is hereby awarded to Atlantic National Bank of Jacksonville, Florida and Prudden & Co, of Toledo, Ohio, upon the terms and conditions set forth in their bid, as aforssaid,andl BE IT FURTHER RESOLVED' that the said bonds.of the City of Sanford, Florida, in the amount of $75,000.00, authorized in the wanner and at the time, aforesaid., bearing interest at the rate of Five and one -half (5jf) per cent. per annum,,upon payment therefor, be delivered to Atlantic National Bank of Jacksonville, Floridas(.� and Prudden & Company, of Toledo, Ohio. FORREST LAKE. Mayor.