051254A
24:7
MINUTES
May 12 at 8 P.M. ~54
City Commission, Sanford, Florida, . .......................................................... y ........
The City Commission of the City of Banford, Florida met in adjourned regular
session at the City Hall in the City of Sanford, Florida, at 8:00 o'clock P. M. May 12, 1954.
Present '
Commissioner Earl Higglnbotham, Mayor
" J.D. Cordell
" John L. Kadet
" John Krlder, Br.,
" W.H. Stemoer
City Attorney A. Edwin Bhlnholser
City Clerk H. N. Bayer
City Manager W. E. Knowles
Meeting called to order by the Chairman.
The following bids next submitted
attaching Ford Tractor:
for furnishing a Rotary Type Mower equipped for
BRITT TRACTOR COMPANY, SANFOHD
1 Rotary Type Mower, Hydraulic controlled
I F & F Cutter with rear wheels
SEMINOLE TRUCK AND TRACTOR COMPANY, SANFORD
1 Brown Rotary Cutter, hydraulic controlled
SANFORD TRACTOR AND IMPLEMENT COMPANY, SA.NFORD
I Brown Rotary CutL~er, Model L.C.
I Wood's Rotary Cutter, Model M-61
Florida-Georgia TRACTOR COMPANY, ORLANDO
I Model C-1 Pasture Dream Clipper Rotary Mower
$ 350.o0
410.00
478.75
400.00
3?5.00
25.oo
1 Model C-2 " , ,, " " h25.00
After comparison of the prices submitted and type of mowers bid upon, Commissioner
Cordell moved the acceptance of the lowest bid, that of Britt Tractor Company for Rotary Type
Mower, hydraulic controlled, at price of $350.00. Seconded by Commissioner Stemper and carried.
The following bids next submitted on sale of the $1,175,000.00, par value, Water
and Sewer Revenue Certificates, dated November l, 1955, authorized by Ordinance No. 532,
passed and adooted by the City Commission on December 14, 1953, and by Resolution No. 829,
passed and adopted by the City Commis~on on March 29, 1954, and described in the "Notice of
Sale" recorded in the minutes of March 29, 1954, and published in the Sanford Herald on dates
of April 2nd, 9th and 16th, 1954, and the Bond Buyer of New York City on April 7th and 14th,
1954, which by reference is made a part of t h~ bid proposals:
SHIELDS AND COMPANY, NEW YORK, N.Y.: AND McCLEARY AND COMPANY
ST. PETERSBURG, FLORIDA.
The principal sum of $1,157,740.00, together with accrued interest go date of
delivery, with interest rates per annum on the Certificates maturing in years arid amounts as
follows: (Cashier's check in sum of $23,500.00 enclosed w~th bid).
YEAR
1958
1959
1960
1961
1962
1963
1964
1965
1966
INTEBEST INTEREST
BATE BATE
A~OUNT PER ANNUM PER ANNUM
$22,000 3.25%
23 000 3.25%
25 000 3.25%
26 000 3.25%
2? 00o .25%
28 000 ~.25%
29 000 3.25%
000
2,ooo 5.25¢
INTEREST
RATE
~AR .A~,OUNT PER ANNUM ,YV. iAR AMOUNT
1967 ooo 3.25, I976 48,ooo
1968 ~000 3.25% 1977 50,000
1969 36,000 ~.25% 1978 52,000 3.~O%
1970 37,000 3.25% 1979 54,000 ~.~0%
1971 39,000 ~.25% 1980 57,000 3.~0%
1972 41,000 ~.25% 1981 59,000
1973 42,000 3.25% 1982 61,000 ~.40%
1974 44,000 3.~0% 1983 64,000
1975 46,000 ~.40% 1984 67,000 3.40%
1985 69,000 ~.40%
IRA H~IUPT & COYdOANY, NEW YORK, N. Y.: PIERCE,
JACKSONVILLE: CRUTTENDEN & COMPANY, CHICAGO,
NE'~ YORK, N. Y.: THOMAS & COMPANY. PITT~R~f~
CARHISON, WULBERN, INC.
ILL: RAND & COMPANY,
24 S
MINUTES
Cify Commission, Sanford, F~orida, . ....................................................................
!~very, ~,,lth interest 'atos oer snn~m on the Cart~flcates maturing' in j~ars as follows:
~ 25~ for ~ears 1958 to 1967, both lac!usa, ye, ~.~0% for y~ars ]968
' ' ~, ~ ¢ for years 1~7~ to 1985, both
to 1975, both inclusive, and ).sO~
~' e (Cashier's .et., in sum of ~.29,000 00 enclosed ,.~Ith bid)
~ . ~,~ , ...... ~, ,~,~ THORNTON,
B~CU5 K,:D~ & .... ..~ ANY. '
The r~r-!ncloa] sdm of ~1,155,977.50 to~ether wlth scorched interest to date of de-
livery, v.lth i~t,rest ~ates o~r annum or~ the Certificates matur]n{z In years as follows:
for v~rs ]9~8 to 1962, both Incluslve~ ~.50~ for ~o~a to
~ ~{ years ~
i971, both lncl~slve, and a.60% for years 19~2,t°, ,]98~' bot,h inclusive.
enclosc~, w,tn bid)
(Oasn~r's oh~c~{ In ~um of ~25, ~'~ ~
HEP, BZRT J. SIMS & COEPANY, INC.; GOODBODY & COld. ANY: ANDERSON COOK
CO~,~ANY, INC.: JURAN & ~OODY, INC.: ~.;ATKINS, MORROW & COMPANY; AND
The principal sum of ;;~1,i~5,62~.00 to[ether with ~ccrue5 i'nterest to date of
deliv~ry, ~'~.th ~,zt~pc3t eat~ ~; ann,~m on the Certificates m~,turlng l~ years as follows:
2.2~% for :ears 19~8 to 1968, boZ~ ~nc]usive, 2.S0% for years 1969
to 1076, both inclusive and 2.60, ~or vesrs 1977 to 1985, both
~ ~, e (Cashier's CheCk In sum of ~n,Soa.O0 enclosed ·
B. J. VAN INGEN & CO~,~ANY, INC., MI~I: POHL & CO:PANY, INC.,
The vrlncipal sum of gl,la6,917.~0 together :~th accrued interest to date of de-
livery, ~ith i~terest rate ocr annum on the Certificates matumln~ In yedrs as follows:
a[~ f~r yes, rs 1958 to 198.~, both inclusive. (Cashler~s chech In sum
of $2>,~00.00 enclosed with bid)
The bids were then tabulated and the results showed the joint proposal of Shield
& Comoany la sum of ~1,l~?,7~0.00 (~7.68% of ~r value), with net interest rate of
a.~72129~, to be the highest and beat bid.
Engineer Angas newt submitted his recom~-~en{~at~,ns for omlttta~ some of thec~,ntracts
covering certain chases of the w~ter and sewer improvements smd revising other contracts, which
were bid on uniZ ~rioes, in order to brln~j the o~rsll cast within the amount of ~nds t~t will
be aw:l!able from the sale of revenue certlf~e~tes to finance the
After a lengthy discussion ~nd study of the p]sns and proposed chan~es~ and on the
su~::estlons and recommendations of the Commission, and also of Engineer Angas and Enf~Ineer
Oeoree Consoer, ot~er omissions and revlslons we-e tentatively s~proved, final action being
deferred untl] r~:u]ar meet~n~ of May 2~, oendi~~ further study by the Engineers, ~lth report
to be submitted by Engineer AnFss at ss~d meeting.
EnFlneers Anf'as and Consoer next r. ecomme~ded t~at the C~ty accept the bid on sale
of th~: rtvenue certificates at t'is t~me, and issue additional c~rtificstes within the
few months to finance Zhe phases of the project ~h~ch will have to be omltt~ from the original
constr~ct[on ~lans. Also, Mr. Wilson Holt of Go<,dbody & Co~pany, City's Fiscal Agents, con-
curred In their recommendations and recommended acceptance of the hl~hest bid ss beln~ a very
favorable bid on ~he revenue certificates.
Thereupon Com~lss!ouer Krlder m~ved the acae~tsnce ~f the h~est and best bid,
of Shield S Co~pany and YcC]eary & Co-~oany in sum of !~].,l~.Tao.00 for the 21,175,000.00
value) Water and Sewer Revenue Certtficates, with net lnZerest rate of ~.a72183~. ~ecmded
by Commlss!:.ner Cordel] and unanimously carried.
being no further business the meeting then adjourned until 8:00 o'clock P. M.
There
May 17, 195~.