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ADJOURNED SESSION OR A REGULAR MEETING OF TIE CITY
COMMISSION OF THE CITY OF SAN.FORD FLORIDA
October 20, 1924 at 2 P. M.
The City Commission of the City of Sanford, Florida, met at the City Hall at
Sanford, Florida on the 20th day of October A.D.1924 at Two 0' Clock P.M-.
PRESENT: Commissioners Forrest Lake, S 0 Chase and C J Marshall
At two O'Clock P.M. the Chairman announced that the hour had arrived for the
opening of-bids for the purchase of the following bonds of the City of Sanford Floltda:
"a) $10,000.00 Municipal Cemetery Bonds, straight maturity Thirty (30) years, rate of
interest 5j%, authorized by Ordinance No. 81, duly adopted on the 11th day of August A.D
1924
(b) $100,000.00 Municipal Improvement ( Street Paving) Bonds, straight maturity thirty
(30) years,'rate of interest 51% authorized by ordinance No.92, duly adopted on the 11th
day of August A.D.1924.
(e) $165,000.00 Public Improvement (Sewerage) bonds straight maturity Thirty (30)
year rate of interest 5j% authorized by Ordinance No. 83, duly adopted on the 11th day
of August A.D.1924.
(d) $50,000.00 Public Improvement ( Municipal Jail) Bonds, straight maturity thirty(30
)
years, rate of interest 5j authorized by Ordinance No. 84, duly adopted on the 11th day
Of August A D 1924.
(e) $227,000.00 Public Improvement ( Street. Paving) Bonds, rate of interest 6%, authorized
by resolution of the City Commission of the City of Sanford, Florida, duly adopted on the
22nd day of September A.D.1924.
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
to-wit:
Bid No. 1.
Joint bid of:
Otis & Company, Caldwell & Co. Missippi Valley Trust Co. Austin Grant & Co., for the
$10,000.00 Cemetery Bonds $50,000.00 Municipal Jail Bonds, $165,000 00 Sewerage Bonds
$100,000.00 Street Pat►ing Bonds, as per sub - paragraphs above, a b e & d. all bearing
interest at the rate of 5j% the sum of $322,270.00 and accrued interest to date of de-
livery.
For the $227,000.00 City of Sanford, Florida 6% Street Improvement Bonds, the sum
of $228,906 8o with accrued interest to date of delivery.
Bid No. 2
Joint bid of Atlantic National Bank of Jacksonville, Spitzer Rorick & Co.;
Seasongood & 9afer.
For the $102000.00 Municipal Cemetery Bonds, rate of in erect
5j%, the sum of $
$10,180.00 with accrued interest to date of delivery.
For the $100,000. public improvement ( Street Paving) Bonds, rate of interest
5j %, the sum of $101,800.00 with accrued interest to date of delivery.
For the $165,000.00 Public Improvement ( Sewerage) Bonds, rate of interest,
o, the sum of $167,970.00, with accrued interest to date of delivery.
0i+)
For the $50,000.00 Public Improvement (' Municipal Jail ) Bonds, rate of Tntere
5K the sum of $50,900.00 with accrued interest to date of delivery.
(Bid No. 3 )
Bid of Walter , Woody & Heimerdinger
For the $10,000.00 Sanford Florida Cemetery 4% Bonds, Par, accrued interest
and premium. of $77.00
For the $50,000.00 Sanford Florida 5J% Municipal Jail Bonds, Par, accrued
Interest and premium of $355.00
For the $100,000 00 Sanford Florida, 50 Public Improvement paving Bonds,
par, accrued interest and premium of $770.00
For the $165,000.00 Sanford Florida 51% Public Improvement Sewer Bonds, par,
accrued interest and premium of $1,271.00
For the $227,000.0008anford, Florida 6% Public Improvement Street paving Bonlds
Par, accrued interest and Fr emium of $3,02.00
Bid No.4)
Bid of Fred Emert & Company
For the $227,000.00 Sanford Florida 6% Public Improvement.Street Paving Bonds
the sum Of $232.130.20 with accrued interest to date of delivery.
For the $100,000.00 Sanford Florida 50 Public Improvement , Paving Bonds, t.e
sum of $103.262.00 with accrued interest to date of delivery.
For the $165,000.00 Sanford Florida 5 Public Improvement Sewerage Bonds,
the sum of $170,352.30 with accrued interest to date of deliver .
For the $50,000.00 Sanford Florida 50 Municpal Jail Bonds, the sum of $51, 31.00
with accrued interest to date of delivery.
For the $102000.00 Sanford Florida, 5J% Cemetery Bonds, the sum of.$10 026. 0 w
with accrued interest to date of delivery.
JBid No. 5)
Marx & Company
For the $227,000.00 City of Sanford Florida 6% Street Improvement Bonds
the sum of $227,533.33 with accrued interest to date of delivery.
For bonds of the City of Sanford, Florida bearing interest at the rate of
5 of the advertised issues to be sold October 20th, A D 1924, shown under sub-
paragraph >a,b,c and d, of the Financial statement of the City of Sanford, Florida
made a part of this bid, the sum of $325,533.33 with accrued interest to date of
delivery.
(Bid No. 6)
Joint.bid of J C Mayer & Company and W K Terry & Company.
For bonds of the City of Sanford, Florida, bearing interest at the
rate of 5 per annum, aggregating $325,000.00 to be sold October 20th. A.D. 1924
the sum of $325,757.77 with accrued Tnterest to date of delivery.
(Bid No. 7)
Joint bid of J C Mayer & Company and W K Terry & Company.
For the $227,000.00 City of Sanford Florida 6% Bonds, the sum of
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$230,032.00 with accrued interest to date of delivery.
(Bits No. S)
WL Slayton & Co.
For the $50,000.00 5j% Jail Bonds; $10,000.00 5j% Cemetery Bonds; $165,000.00 50
Sewerage Bonds, 1100,000.00 51% Street Improvement Bonds, the sum of $327,112.550 with
accrued interest to date of delivery.
For the $227,000.00 6% City of Sanford Florida Street Improvement Bonds, the sum
of $230,405.00 with accrued interest to date od delivery.
No further sealed bids having been received, the Commission proceeded to consider
all bids submitted, and after a careful .cons iderat ion and examination of all bids,
submitted came to the conclusion that the bid of Fred Emert & Company, of St. Louis
Missouri, was the highest and best bid received, thereupon Commissioner S 0 Chase offered
the Following Resolution which was unanimously adopted. .
Resolution 1S4
Whereas, Fred Emert & Company has submitted a proposal for the purchase of the
following bonds of the City of Sanford, Florida, all of said bonds to be dated July 1st.
A.D.1924, as follows to -wit:
(a) $10.,000.00 Municipal Cemetery Bonds, bearing interest at the rate of 5j% per annum,
straight maturity thirty (30) years.
(b) $100,000.00 Public Improvement ( Street Paving) bonds, bearing interest at the rate
of 5f% per annum, straight maturity thirty ( 30.) years.
(c) $165,000.00 Public Improvement ( Sewerage) bonds, bearing.iterest -at the rate of
5j% per annum, straight maturity thirty (30) years.
(d) $50,000.00 Public Improvement ( 'Municipal Jail) bonds, bearing interest at the rate
of 51% per annum. straight maturity thirty ( 30 ) years.
(e) $227,000.00 Public Improvement ( Street Paving ) bonds bearing interest at the rate
of 6% per annum, maturing serially over a period of Fifteen (15) years
said Proposal being in words and figures as follows to -wit:
" October 20,1924
City Commissioners
City of Sanford
Florida .
Dear Sirs ::.
For #227,000 00 Street improvement bonds of the City of Sanford, Florida,
bearing interest at the rate of Six percent per annum payable semi - annually at the
Chase National Bank, N.Y C and to be dated July let 1924, and to mature as per your
official notice of sale, we will pay $232,130.20 and accrued Interest from date of
bonds to date of delivery to us.
For $100,000 public improvement bonds of the City of Sanford, Florida, bearing
interest at the rate of Five and One half percent per annum, payable semi- annually at
New York City and to -be dated July let, 1924, and to mature July 1st, 1954, we will pay
$103.262.00 and accrued interest from date of bonds to date of delivery to us.
For $165,000 sewerage system bonds of the City of Sanford, Florida, bearing
interest at the rate of Five and one Half per cent per annum, payable semi - annually at
New York City and to be dated July let,. 1924, and tomature July 1st, 1954, we will pay
$170,3183.30 and accrued interest from date of bonds to date of delivery to us.
For $50,000 Jail Bonds of the City of Sanford, Fla. bearing interest at the rate
Of Five and One hal percent per annum payable semi - annually at New York City, and to be
da ted July 11 1924, and to mature July 1, 1954, we will pay $51,631.00 and,aoorued.
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interest from date of bonds to date of delivery to us.
For $100000 Cemetery Bonds of the City of Sanford Fla. bearing interest
at the rate of , Five and One Half percent per annum payable semi- annually . at
New York City, and to be dated July 1, 1924, and to mature July 1, 19540 we will
pay $10,�Vo.w and aoorued interest from-Mate Of bonds t® dalivery to.us.
It is our understanding that all of the above issues are to be in $1,000
denominations and. that both principal and interest are to be payable in New. York
City, and that the full faith and credit of the City of Sanford, Fla. is irrevo-
dably pledged for the payment of 'the principal and interest 'of said issues of bo
We also understand that we are to be furnished with the approving opinion of Cal
and Raymond Bond Attorneys as to the legality of these issues of bonds.
We inclose check for $11,040. as evidence of our good faith, In the event t
we are not the successful bidder this check is to be returned to our representa-
tive at once. In the event this bid is successful, this check is to be retained b
you and applied as part payment against the purchase price of the bonds when we
take up and pay for theni, otherwise to be retained by you as liquidated damages
in the event that we fail to comply with the terms of our contract.
We wish to call your attention to the fact that this bid is based upon in-
formation taken from your official notice of sale and is intended to be in accord-
ance with such notice. If therefore any error occurs in the body of this bid
it is subject to eorredtion by comparison with the official notice of sale.
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Very truly yours,
FRED EMERT AND COMPANY
Liberty Central Trust Bldg.
Saint Louis Mo.
(Signed By, Vincent M Doherty."
WHEREAS, it is the opinion of this Commission that the said bid of Lred Emert
and Company, offering to purchase all of said bonds upon the terms and conditions I.
set forth'in said bid, is the highest and best bid received for the purchase of
several issues of bondsb
Therefore, be it resolved, that the bid of Fred Emert and Company for the
purchase of all of the issues of bonds above described upon the terms and condi-
tions and at the respective prices set forth in said bid of Fred Emert and Company
be, and the same is hereby accepted, and
Be It Further Resolvedrf that the sale of said bonds hereinabove deserib.ed
advertised for sale by the City of Sanford, Florida on this the 20th day of petobe
A D 19240 be, and the same is hereby awarded to Fred Emert and Company, upon the t
and conditions and at and for the prices respectively set forth in the said bid of
Fred Emert and Company, and,
Be it furtherresolved, that the Bond Trustees of the City of Sanford,
Florida, be, and they are hereby authorized, instructed and empowered, to make
delivery of all of the bonds of the City of Sanford, Florida, herein above par-
titularly described, to Fred Emert and Company, the purchasers thereof under
this award, upon the payment for said bonds by Fred Emert and Company of the
price bid therefor as set-forth in the proposal of the said Fred Emert and Company
and by this resolution accepted by the City Commission of the City of Sanford
Florida.
{` There being no� further business the meeting adjourned.
Mayor
Attest:
City Clerk.
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and Company, offering to purchase all of said bonds upon the terms and conditions I.
set forth'in said bid, is the highest and best bid received for the purchase of
several issues of bondsb
Therefore, be it resolved, that the bid of Fred Emert and Company for the
purchase of all of the issues of bonds above described upon the terms and condi-
tions and at the respective prices set forth in said bid of Fred Emert and Company
be, and the same is hereby accepted, and
Be It Further Resolvedrf that the sale of said bonds hereinabove deserib.ed
advertised for sale by the City of Sanford, Florida on this the 20th day of petobe
A D 19240 be, and the same is hereby awarded to Fred Emert and Company, upon the t
and conditions and at and for the prices respectively set forth in the said bid of
Fred Emert and Company, and,
Be it furtherresolved, that the Bond Trustees of the City of Sanford,
Florida, be, and they are hereby authorized, instructed and empowered, to make
delivery of all of the bonds of the City of Sanford, Florida, herein above par-
titularly described, to Fred Emert and Company, the purchasers thereof under
this award, upon the payment for said bonds by Fred Emert and Company of the
price bid therefor as set-forth in the proposal of the said Fred Emert and Company
and by this resolution accepted by the City Commission of the City of Sanford
Florida.
{` There being no� further business the meeting adjourned.
Mayor
Attest:
City Clerk.
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