090426CITY COMMISSION, SANFORD, FLORIDA,
MINUTES
ADJOUR/~ED SESSION SEPT. 4th at 2:30 P..~. '~ 19 26
at the City Hall at Sanford, Florida at two-Thirty O'Clock P.M. on the 4th day of
A.D.1926.
The City 8ommission of the City of Sar-ford Florida met in an adjourned session
September
Present : Conm~issioncrs , Forrest Lake and E F Housholder.
Absent: Commissioner, S 0 Chase.
H V Condict submitted a proposition to the City Conm~ission offering to secure
a purchaser for the ~1,575,000.00 City of Sanford, Florida 5½% Improvement bonds, authorized
by r~nances llO,111,112,11~,ll5,11~,ll8, and 121 of the City of S~nford, Florida, duly
adopted ~arch 8th 1926 at a price of not less th~n 95.~1 per cent of the par v~lue of
~525,000.00 public utility bonds authorized by Ordinances Nos. ll~, and ll5 with accrued
interest to d~te of delivery and a purchaser for the remainder of the issue of bonds
offered for sale on September 3rd 1926, amo~n'~ting to $1,050.000.O0 authorized by Ordinances
Nos. llO,111,112,11~,ll$ and 121, at par with accrued interest to date of delivery, said
proposal of H V Condict being in words ~nd figua'es as follows: to-wit:
September ~th 1926.
City Co~uission
Sanford, Florida
Gentlemen:
I will undertake and agree to procure a purchaser for the ~1,575,000.00 City of Sanford
Florida 5~ % Improvement and Utility Bonds, more fully described in the notice of sale of
said bonds of the City of Sanford, Florida, advertised to be sold on September 3rd 1926 as ptbl-
lished in the Daily Bond Buyer and the Sanford Herald, who will pay you for said bonds as
follows to-wit· for $525,000.00 Utility Bonds, $~99,S62.50 for $1,050.000.00 General Voted
Obligation ~1,O50.000.00 together with accrued interest to date of delivery, said bonds
bear interest payable semi-annually;for said service to be performed by me, as your fiscal
agent, you are to pay me $52,037.50 in cash at the time of the delivery to the purchaser and
the payment by the purchaser of the purchase price of said bonds.
This offer is made you on the condition that if I do so procure a pua'chaser for t~e
above described bonds, the City og Sanford Florida shall agree that no additional bonds of t~e
City of Sanford, Florida will be offered for sale for a period/of Sixty days from and a~r~
the date of the delivery of the above bonds to the purchaser secured by me.
Very Truly yours
(Si&med) H V COI~DICT"
The matter was thoroughly discussed by the Co~ission, and thereupon,
Co~issioner Housholder offered the following resolution:
WHEREAS, H V Condict, of Orlando, Florida has offered to secure a purchaser
for the ~1,575,000.00 legally issued 5~% Utility and Improvement bonds of the City of Sanfor~
Florida dated July l, 1926, authorized by Ordinances Nos. llO,111, ll2, ll~, ll5, ll6,
and 121 , which said ordir~ es were ratified and confirmed by the qualified electors of
the City of Sanford, Florida, at an election had and held on the 19th day of April A.D.
1926, who will purchase aaid bonds and will pay therefor the sum of $499,862.50 for the
utilit~ bonds authorized, amounting to the sum of ~525,000.00 and the s~n of $1, 050,000.00
CITY COMMISSION, SANFORD, FLORIDA.
MINUTES
Sept. 4, 1926 19
$52,037.50 to be paid in cash to him as soon as the purchaser or purchasers produced by
him have accepted delivery of the above bonds at the above quoted prices, with accrued int-
erest to date of delivery , and
WHEREAS, it is the sense of this Comznission that the acceptance of the proposition
submitted by H V Condict will be advantageous to the City of Sanford, Florida, therefore
BE IT RESOLVED that said. proposition be and the same is hereby accepted.
BE IT FURTHER RESOLVED , that when said bonds have been delivered to the purchaser or
purchasers produced by H C Condict who will pay for said bonds the sums of money above
mentioned with accrued interest to date of delivery, H V Condict be paid the sum of $52,037.5(
in cash by the City o£ Sanford, Florida for services performed by him as the fiscal agent for
the City of $~nford, Florida.
Thereupon, the motion w~s put upon the adoption of the resolution offered by
Conm~issioner Housholder and upon a call o£ the roll those voting f~r the adoption of the reso-
luition were Co~uissioners Forrest Lake and E F Housholder.
Thereupon a recess was taken until two-thirty o'clock P.M. September ll, 1926
Mayor
Attest:
City Clerk.