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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.