061827204
CITY COMMISSION, SANFORD, FLORIDA,
MINUTES
June 18 - AdJuu~ned Sessiom-
The City Commission .o~~ty of 8anford, Florida met at the City Hall at 2 0'Cl~
Po~. on tho.lSth day~__~of~e A D .192~
Pr&sent. Commie--s, Forrest Lake, S O Chase and E F Housholder.
Oity Attorney, George A DeOottee,
at private sale th~$1,0~
City Manager W B Williams.
submitted~ap~oposal in w~iting to purchase
,000.00 le ly issued Citgo( Sanford Florida 5}% Improvement
Bonds dated July 1, 19~nd January l~gz? author~ed,,'by Ordinances Nos 113, 117, 119
$15o,ooo.oo city of?=ford, FloOds 5}% cipal*ire
$~0,000.00 Oity of ~for~, Flor~ ~ ~tric Fire AI~ ~ POlice T~lephone
/
~~ r
~tcl~1 Docks an~ ~es So~. ~ /
~0,000.00 0i~~ford, ~1o~ ~% ~e~,~tion & B~k~n&s.
~iscusse~, an~ thereupon Oo~ioner~ E F HousholGer off~ ~e ~llowing reso
~/~ ~E~AS, the 0i~t~o~is~ the 0i~y of Sanfor~, ,l~ri~ I ~ofore or~ere~
O~
Florida
~ I~rovem~t Bon~ ~etofore &~y aut~orize~ by 0:Gin~ces 11~, .17, 119, 120
1¢5,
/ ~EAS, on s~d te seals posals were received~y the omission
~e Oity of S~ford Florida for ~chase of said ~n~, and
~ck
WHEREAS only two-~bids were ,sub~/tted to the City Commission for the purchase of
bonds, and
':WHEREAS, after ~--~ue consid~n said bids were rejectedby the Commission,
- WHEREAS s~id bonds were not sold purs~m-nt to said adveriisement, and may be legal-
~ 2
ly sold at private sale at any time~n sixty days from an~ter June 15, 19 ?., and
WHEREAS U --~ has submitted a proposal for the
p~rchase of said bond~eaming i%~est at the rate of 5}% Per annum, interest payable
January 1st and July ~st, of each year, both principal and i~erest being payable at
Chase National Bank, i~the City of New York and State of New Y~rk, Said bonds being
/
of the denomination o~/$1000.00 eac~and all of s~id bonds, except the $250,000.00 .
City of Serif oral, Flori~a 5}% Hospi~Bonds being dated July l, 1926, and to mature 30
Bonds being date~ary 1, l~7~md to mature 30 years from date of issuance
thereof, authorized by Ordinances Nos. ll3, ll?, 119 120 and 145, as aforesaid, said
proposal being in wor~s and figure~as follows, to-wit:
~ ) S~n~ord Florida, June 18, 192?
Hon. City Commis~sAon of Oity of rd
Sanford, Florida.
CITY COMMISSION, SANFORD, FLORIDA.
MINUTES
June is. 27
.[
1927 to mature July 1st, 19~7,
$150,000.00 City of Sanford, Florida~ioopal Fire Station Bonds, dated July 1, 1926
to mature July 1, 19~6
$ 00,000.00 of an authorized issue of $400~000.00 City of Sa~ford,_Florida 5~% Municipal
Docks and Wharves Bonds, dated July 1~192~, to mature July 1, 1955
$1~00,000.00 City of Sanford Florida 5~e lamation & Bulkheading Bonds dated July 1, 1926
to mature July 1, 1956
advertised for sale on June 15, 1927 as pe~:~tisements appearing in the Sanford Herald
' Jo
Sanford Florida, and the/Daily Bond Buys . f New York, which bonds were not sold on the 15th
day of June 1927, we will pay you th~f and accrued interest
to date of deliv~y, upon delivery of said bonds to us at the 0hase tional Bank in New York
accompanied by/the unconditional approving ~inion of 0aldwell~ R~ond, attorneys, of New
bee.viag inter st at 5~% per annum at pa~J~ith accrue interest to date of deli e e
best and high'est bid obtainable for ~he p~chase o~said bonds at private sale, said bidl
being in ez~sa_~f_~any proposal subm~ed to this Co~ssion on June 15, 1927. for the
ohase of sai_d~ public sale, THEREFORE
BE IT RESOt~. that it is the op~on of thia~Oommission that the said bid of.
This day sut~i~d for the p~chase of said issue of bonds a~
delivery, be and tke~same is hereby a~ce~ted, and
/BE IT FURTHER~ ~SOLVED, that the<~.sale of sai~bonds be, and the same is~ereby a-~dsd
offering to purchase said bonds at pr&vats sale.
BE IT FURTHER RESOLVED, that said bonds of theory of Sanford, Florida, aggregating
$1,040,000.00 authorized by the or~'~ afores~aid,~ b~delivered to
upon the payment therefor by ! ~
of the sum of $ ~ d acJue~ interest to date of delivery.
Adopted this 18th day ~,~2e AID.1927.
Attest:
L R Philips,
City Olerk ......
Forrest Lake
'IS 0 Chase
E F Housholder
As the City Commission of the
City of Sanford, Florida.
206
MINUTES
CITY COMMISSION, SANFORD, FLORIDA, lS ,9_ 27
Commissioner E F Hca~e~f~r offere~he following resolution, which WaS unanimously
WHE.S on~. ~2~ lnstal~nts of principal ~d interest w~l~ become ~e
~ayable on severa~ ~ssues of street pa~ assessment ~d bu~head~n~ ~rov~ent bonds
of the City of Sanford, Florida, which ben.were heretofore issued against special assessment,
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levied, assessed and imposed~gainst/ privacy owned property fronting and abutting certain
streets and public thor~es in the Ci~ of San~ord, Florida heretofore improved and paved
by the City of Sanford, Fl~a, and levi~, assessed and imposed against privately owned
property in East Side Bul~e~a~didSstrict Ngs._l and 2, and in West Side ~dlkhead District, impr,
ed and benefitted by rec33~m~on and bulkh~ing, and
WHEREAS, up to J.une 15, 19~her%-- was , and still is ou~$~hding,~ past due and
unpaid to the 01ty of Sanfor~, Florins sum of $67,709.21 on a~co.~ of principal and
interest pay~le to s~id C~y under special assessmtnes~ainst~.~va&ly owned property,
benefitted b~ said paving aga~rs t which sal~/special ass$/ssments', .~t~e City of Sanford, Florida
/ /
has heretofore issued certain street pavin~eola~ ass~sment bona.in anticipation of the
of-'~azffo ~:~ 'lorida, t~:~ sum of $1}.1.6,~9~.0tl- on accountx.,~f principal and interest payable to
the said City under special asSess~ent~ levied, assessed and imposed against privately
owned property in said Bulk~ .d Dist~.~ts~, impro~ved and~tnefitted by
r ecla~lation
a~d
bulk-
heading, against which sai~ ;~ .eclal ~ssments the Ci';y~of Sanford, Florida has heretofore
°
issued c in reclamation improvemen' bonds in anticipation of the col-
lection of said s~ sments, ~
~ ~WHEREASA? the ~al.of sai~/special assel merits and interest now payable and pas~
due as d, amounts sum ~ 21~,802.25,~
WHEREAS, under )ecial A~of the LegislA~ of the State of Florida enacted
duri ? Session t!.ed: [
# An A~t~xrbh~r~zing th$ ~ of Sanford Florida to borrow money temporarXly in anticipation
of ~'~f'~o~J;t~on of sp [ assessment/ in order~p_Fovide for the payment of maturing int-
erest and principal of ne ~iable specie( assessment bon--d~-a~d also obligations payable only
out[of a special fund, t ssue theref~,~TU~otia~l~ ee~ates of indebtedness which s.hall
constitute general obliga ns of the-~i;~Y~of San~ord, Florida, and to provided for the li-
the Oity of Sanford, ,~lorida is author~d and fury empowered by and. through its governing au
authority, to borrow money temporarily I5 anticipator the collection of special assessment
levied, assessed and impose~, but not collected at the time of said borrowing, for the payment
of matuming interest and~,~inczpal~/- of sp~gial assessment bonds of the City of Sanford, Flori
putstanding,th.re,ofore ued in antio ation the collection of said special assessments,
and to issue for the moneyc~o borrowed~sl~ort term,negotiable certificates of indebtedness
bearing interest at the rat~ n6t to ~e~ (6)Slx per centum per annum,
interest
payable
semi-annually, which certif%cates of indebtedness shall be general obligations of the City
of Sanford Florida, th~e,~ ~
BE IT RESOLVED th~ there shall~'ibe immediately duly issued two hundred and fourteen
certificates%f indebtedne~/~ ~of the denominatiom of $1000.00 each, to be numbers
negotiable
from i to 21~, both n~ers//inclusiv~, bering interest at the rate of six per centum per
her
a
MINUTES
igned by the Mayor and t~of the C~of Sanford, Florida, each of said certificates
of indebtedness to have affixed thereto t~rporate seal of the City of 8anford, Florida
and to each of said certificates of. indebt~ss shall be attached interest coupons to be
signed with t.he engraved or.fa~mile sign~ures o~ said May.or and Clerk, the said cer-
tificates of ~ndebtedness w~h'e necessa~variatmons~ indmcate different numbers and
dates, shall be substantially ~the foll~ng form to-wit:
NUMBER < DOLLARS
~ , ~ · ~ $1000.00
Nunicipal Co~oration organized and e~g under the law/of the State o~]lorida, for
value received 1 acknowledges ~elf J u~ly'lndebted, and ~omi~ses to pay t~e bearer hereof
on the I th day of June A!ID.I~ w~tion of prior payment, in lawful money of the
United Sta~tes of America, wit~ interest thereon from dat at the zate of six per centum per an,
num, untl~, interest pa~ble semi-anfuually, on December 15th, and June 15th., both prin-i
c ipal and interest being pay~le at the~¢hase National ~n the City of Sew York, State
~ew York.
~ ~certl~lcate o~ indeb~ess is one of two H~x~red and Fourteen Certificates
of indebtedness, aggregating $214,~0 of like~, end is issued by the City
of 8anford, Florida, ~v ~ ~3cipal p~rposes in striet conformity with an Act of the 1927
s~on of the Legis~lature of the Stat~ of Florida!, entitled:
"An Act Authorizing the City ~ 8~s~rida to l~orrow money temporarily in anticipatior~
9f. the .colle~cti.on of special asses~ents~ order to p .i~or the payment of maturing
· n~eres~ ana pnncipal. ~f~egotiable@pecial assessmenth bonds and also obligations payable
only out of a special fulTd., to lssu~therefor negotiable certificates of indebtedness
which shll constitute General Oblig~kti~ns of the City of Sanford, Florida, and to provide for
the liquidation of such lfemporary lo~*rfi."
~-~.
and also pursuant to l~esulUtion ~3~ of the City Commission of the City of 8enford, Florida
duly adopted on the 18th~Day of Jun~f~A D . 1927
IT I$ HEREBY CERT~IED, Rr. OI~D AND DECLARED that all acts, conditions and things
required by law to ea~/happen andre performed, precedent to an on the issue~nce of
this certificate of n~de~tedness,~
regular and due time, ~ and manner, as required by law, and that provision has been duly
made by a resolutl~r~ of the City C ssion of the City of Sanford, FlOrida to assess an-
nually a tax upon~ll taxable proper~y situate within the City of Sanford, Florida, to real-
ize a sum suffio~t to pay the i t upon this certificate of indebtedness as it m~y be-
come due, and t~/create a sinking~Auma~ for the payment of the principal hereof, at maturity.
IN WITNr. S$,whereef the City of 8anford, Florida has caused this iht~erest bearin~ cer-
20S
, / MINUTE '
L~,/. / June ~h~ 18 ~9 ~
On the Z5th ~y ~ D
~E CITY OF SAN~O~,LORIOA. ~
will pay to ~e r,~= ~i=~y ~_$30.~ollmre in ~ money of the United States of
America at the e National B~k ~ ~e City of New Ye=k, 8tare of New Yo=k, bei~ six
months~ interes then d~~tificate of i~te~esa dated J~e 15, 1927.
~ ~E ~ F~T~R ~SO t for the ng due provisiom for the pay-
ively come due nd payable, the Sp ial Assessment~d interest ~oresa~ , no ne ~d
c,llecte~, sh~l be se~ ~si~e ~n~ ~1~ in ~ Sp~l ~ for the p~ent ~f interest ~o
t~T F~TH= ~ESOLV=~at in the evp the prooe~y ~erive~=om the collectio~
of said s~ assessments mhd ~est sh~c~_~isnt~full~vide for the
payment o~ the principal m~ int~est of said c~rtificates of indebte~ess, as the s~e
~ become ~ble, the cit~a~ord, Fl~her~y o°~nts and ag~es~ wlth the
holder~f said cer$ificates of ~bte~ess, ir ~y of them, ~to le~ a~lly upon all
t~ble~ said O~~ficient ~eet ~ny deficiency, it being the i ntentio~
of sald City to provide ~ t~ p~ment of the ~noipal and~est of said certificates
of indebte~ess out of the proceeds derived f~he collection of said specl~ assessments
~d interest which were due and p~le to the~ of S~ford, Florida, on or before J~e
~et ~collecte~t the f~h and.~ City of 8~ford,
Fl~ is hereby ~evocably PledgSd f~z the ~nt o~Said certificates of'indebt~ess
~d~est to accrue there°~d there s~be l~d each yea=, said certificates
o~d~t~ess are outstandi~ ~s~ficient ~ provi~ f~r the payment of the
p~incipal ~d interest on said certijicates/of in~bte~ess ~t ~t~ty.
~ BE IT F~TH~ ~SOLV~as it ~s~e~ary to ~ve on h~d the proceeds derive~fX~
~h~ ~ said ~ertificates of ~ebte~es~ to July l, 1927 that a te~o~a=y certif
icate of indebtA~ess to be dated ~e 15, 192~ for the s~ of $214,000.O0 shall forthwith be
issued ~d executed by the ~Clerk of the Oity~f ca, oral, Flori~, ~der the seal of
the City ~f Sanfo=d, Florid~y~ble Ninety ~y~~te, ~d delivery to ~he p~chaser
thereof wzth the ~derstundi~ ~eement th~om or before ninety ~ys from ~d afte~
Ju~ 15, 1927 said tempora~ti~te of i~e~ess shall be f~ded by the substitution
therefo= of the perm~ent certificates o~ess n~bered from one to two h~ed ~d
fo~teen, both n~bers i~ive, autho~y this resolutiom~
BE IT ~T~OLV~, that Forrest L~e, ~yor of the City of 8~ford, Florida
be, and he is hereby, fully authorized ~d duly empowered to negotiate, sell ~d deliver all,
CITY COMMISSION, SANFORD, FLORIDA,
MINUTES
diately from and after its passag~and a 'do~p~ton~
Adopted o~h day of ~e A D.
/ ~
Attest: ~U~
~_~
L R Philips
0Zty Clerk.
ForFeet Lake
S 0 ~hase
E F Housholder
As the City Commission of
the City of Sanford,
Florida.
There being no further bus~.~s
the meeting adjourned.
July 5th, ~9~?;--
Mr. L. R. Philips,
City Clerk,
8anford, Flor! da.
8ir:
Re: $100,000 of an authorized
issue of $150,000 Fire
Station ~Onds.
$400,000 ~Alkhead Bonds.
proceedings of the Cit~'-~e~on relative
t~the private e~ of t~e bonds of the City of S~ford,~
. ~orida,
~gregatl~ $$~,000.~, advertised for ~le on
~ 15th,1927, at which' ~e ~1 bide submitted ~re re-
. Jeered, leavi~ certain bla~ ~aoes to be flll~ in
-- ...... ~et~n f_~ r~New York.
~on o~ ar~lv~ in New York, Mr. ~e ~s
~able t~ aell all of the bonds a~ieed for sale on
J~e 15th. I ~ encloel~ y~ h~ith d~aft of the
oe~i~s of the City O~[saiom u~er,~te of J~e 8t
~ ~e 18th,192~, ree~eotivel~ ji ~ ...... ~ .h
mxnumes of the City O~ission hel~ on ~id ~tes.
The excerpts Ancl~eed a~ow th~ eubmission~f
a fieea! agency proposition by R. I. Reilly and She ac-
~oeptanoe thereof by the City and the sale, at private
sale, Of 'bonds o~ the C~ty of ~uford, ~lorida, as follows:
(a) $100,000 f a~authorized issue of
$150,000 City of Sanford, Florida 5~
Municipal Fire Station bo~ds, dated
July lst,l$~6, to mature July lst,l~56;
(b) $4~0,0~,0 City of ~anford, Florida 5~
Recla~ation & ~lkheading bonds, dated
J~Y 1~t,19~6, to mature J~y lst,1956.
Please deet2oy the lnco~lete minutes of the
~a,,..~ 16th and 18th of J~, ~ectively, in
r
very truly,