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011728CITY COMMISSION, SANFORD, FLORIDA. MINUTES AdJourne~ ~[eetin~ - January l?th The City Commission of the City of Sanford, Florida, met in adjourned session at the City Hall in Sanford, Florida, January 17, 1925. at 4:00 P. M. on Present: Commissioners City Clerk City Manager City Attorney E. F. Housholder, Hayor S. 0. Chase Frank L. Miller F. S. Lamson substituting for L. R. Philips W. B. Williams G. W. Spencer, Jr., substituting for Geo. A. De0ottes. said resolution being 0ommissioner Miller offered Resolution No. 366, in words and figures as follows, to-wit: RESOLUTION NO. 366 A RES0~T~ION PROVIDING FOR AN ISSUE OF BONDS BY THE CITY OF SA~0RD, 17LORIDA, IN THE STyli OF ~261,000.00, THE PROCEEDS DERIVED FR0~! T~FJ~ SALE T~REOF TO BE USED TO REFTJND AND PAY CE~TAIN OBLIGATIONS OF THE CITY OF SANFORD, FLORIDA, FOR THE PA~,iENT OF WHICH TEE CREDIT OF SAID CITY IS PLEDGED, PRWSCRIBING T~E FORE A_VD q0N~ DITIONS OF SAID BONDS TO BE SO ISST~D ~ND PRO- VIDING FOR A SINKING ~ FOR THE PAYMENT OF THE PRINCIPAL AND INTEREST OF SAID BONDS. WHEREAS, the City of Sanford, Florida has outstanding obligations in the sum of ~261,822.41, for the payment of which the credit of said City is pledged, as shown and disclosed in Official Document A-2, dated December 31, 1927, prepared by Hall and Pentland, Certified Public Accountants, entitled: "Partial Refinancing Program", now on file in the office of the City Clerk of the City of Sanford, Florida, and, Whereas, all of said obligations itemized and shown in detail in said Official Document A-2 are either past due, callable, or payable within less than three months from this date, and, WHEREAS, the City Commission of the City of Sanford, Florida deems it expedient and to the best interest of the City of Sanford, Florida to issue bonds in the sum of $261,000.00, the proceeds to be derived frcm the sale thereof to be used in funding and paying, insofar as said proceeds may apply, the said obligations of the City of Sanford Florida in the sum of ~261,8~2.41, for the payment of which the credit of the said City is pledged, as shown and disclosed in detail in said Official Document A-2, prepared by Hall and Pentland, Certified Public Accountants, under date of December 31, 1927, now on file in the office of the City Glerk of the City of Sanford, Florida,, as aforesaid. T~REFORE, BE IT RESOLVED That, under and by authority o2 an ~ct of the Legislature of the State of Florida of 1927, entitled: "AN ACT to Authorize the Issuance of Refunding Bonds by Counties, Cities, TOwns, and Other Municipal Corporations and Taxing Districts, aB~ to ~rovide for Their Payment," duly approved by the Governor of the State of Florida, on June 6, 1927, a bond issue in the sum of Two Hundred ~d Sixty-one Thousand (~261,000.00) Dollars, for the purpose abowe stated and specifically set forth, be and the same is hereby authorized; that said bonds shall be of the denomination of One Thousand (~1000,00} Dollars each, bearing interest at a rate not exceeding six per centum per annum, interest payable semi-annually on the 1st days of January and July, s~ d bonds to be dated CITY COMMISSION, SANFORD, FLORIDA, MINUTES Adjourned I,~eeti~ - January 17, 1928 __ Bonds numbered from I to Bonds numbered from ll to Bonds n~nbered from £1 to Bonds numbered from 31 te Bonds numbered from 41 te Bonds numbered from 51 to Bonds numbered from 61 to Bonds n~bered from 71 to Bonds n~mbered from 81 to Bonds numbered from 91 to Bonds numbered from 101 to Bonds numbered from lll to Bonds n~nbered from 121 to Bonds numbered from 131 to Bonds numbered from 141 to Bonds numbered from 151 to Bonds numbered from 161 to Bonds numbered from l?l to Bonds numbered from l$1 to Bonds numbered from 196 to Bonds numbered from Ell to Bonds numbered from 226 to Bonds numbered from 241 to 10, inclusive, to mature Jan. 20 inclusive, to mature Jan. I ~O inclusive, to 40 inclusive, t o 80 inclusive, to 60 inclusive, to ~0 inclusive, to 80 inclusive, to 90 inclusive, to 100 inclusive, to ll0 inclusive, to 1E0 inclusi~e, to 130 inclusive, to l~0 inclusive, to 150 inclusive, to 160 inclusive to l~0 inclusive to 180 inclusive to ~9~ inclusive to ~10 inclusive to 228 inclusive to 240 inclusive to 261 inclusive to mature Jan. 1 m~ture Jan. 1 matume Jan. 1 mature Jan. 1 mature J~n. 1 mature Jan. 1 mature Jan. 1 mature Jan. 1 mature Jan. 1 mature Jan. 1 mature Jan. 1 mature Jan. 1 mature Jan. 1 mature Jan. 1 mature Jan. 1 mature Jan. 1 mature Jan. 1 mature Jan. 1 mature Jan. 1 mature Jan. 1 mature Jan. I 1, 1931. 1932. 1933 1934 1935 1938 1937 1938 1939 19&0 1941 19~2 1944. 1945. 1946. 19~8. 1949. 1950. 1951. 1952. 1953. both principal and interest of said bonds to be payable at National Park Bank in %he City of New York, State of New York, in lawful money of the ~ited States of America. Said bonds shall be signed by the Mayor of the City of Sanford, Florida and by the Clerk of the City of Sanford, Florida, and the official seal of the City of Sanford, ~'lorida, shall be affixed thereto. T~e interest coupons to be attached to said bonds shall be signed with the engraved or lithographed facsmile signatures of said Mayor and said Clerk: the said bonds and coupons, with the necessary variations to indicate the different numbers and different dates of maturity, shall be substantially in the following form, to-wit: 1WYMBER DOLLARS UNITED STATES OF ~RICA 1000 STATE OF FLORIDA C~JNTY OF S~INOLE CITY OF SANFORD, FLORIDA REFUNDING BOND SERIES A-2 Florida, of the State of Florida, for value received, acknowledges itself indebted and promises to pay to the bearer hereof the sum of ONE THOUSAND DOLLARS in lawful money of the United States of .~nerica, on the 1st day of January A.D. with interest thereon at the rate of per centum per annum, payable semi- annually July 1st and January 1st of each year on presentation and surrender of the interest coupons hereto annexed as they severally become due, both principal and interest being payable at NATIONAL PARK BANK in the City of New York, State of New York. This bond is one of a series of 261 bonds aggregating Two Hundred and Sixty-one Thousand (~261,000.00) Dollars, of like da~e and tenor, except as to maturity and rate of interest, issued by the City of Sanford, Florida, for E/VOW ALL ~,~N BY T~SE PRESES~S, That the City of Sanford, a municipal corporation organized and existing under and in pursuance of the laws 19 CITY COMMISSION, SANFORD, FLORIDA,. MINUTES Adjourned l~ecting - January 17, 1928 19 28 Towns and other Municipal Corporations and Taxing Districts, m~d to Provide for Their Payment," duly approved by the Governor of the State of Florida on June 6, 1927, and also pursuant to certain orders and resolutions of the City Commission of the City of Sanford, Florida duly had and adopted. IT IS HEREBY CERTIFIED, RECITED AND DECLARED, Tha~ all acts, conditions and things required by law to exist, happen and be performed, precedent to aud in the issuance of this bond, have existed, have happened and have been performed in regular and due time, form and manner, as required by law, and that the amount of this bond, together with all other indebtedness of the City of Sanford, Florida does not exceed any limit, prescribed by the Constitution and Statutes of the State of Florida, and that before the issuance of this bond, provision has been made by resolution of the City Commission to assess annually a tax upon all real and personal property, railroads, telegraph and tele- phone lines owned or situated within the City of Sanford, Florida, to realize a sum suffi- cient to pay the interest upon this bond as it may become due and to create a sinking fund for the payment of the principal hereof at the maturity of the same; and that the issue of bonds, of which this bond is a part, has been duly confirmed and validated by a decree of the Circuit Court of the Twenty-third Judicial Circuit of the S~ate of ~'lcrida, in and for Se~nole County, in a proceeding begun by the City of Sanford, Florida, a municipal corporation, against the State of ?lorida, of which proceeding notice was duly and regularly given to the State of Florida and to the public. And for the payment of the principal and interest of this bond the full faith and credit of the City of Sanford, Florida is hereby irrevocably pledged. IN WITNESS V~EREOF, The City of Sanford, Florida, has caused this bond to be signed by its Mayor and by the City Clerk, and its corporate seal to be affixed hereto, and has further caused the interest coupons hereto attached to bear the lithographed facsimile signatures of the said Mayor and said City Clerk~ and this bond to be dated the 1st day of January, A.D.1928 Hayor o~ ~ne City o~ ~an~ord, ~'lorida. Attest: city Ulerk. (FO~,I OF IMT~REST COVPON) NO ....... $ ON T~ FIRST DAY OF jT~y 19 JA~RY 1~ T~E CITY OF SA~TFORD, F~ORIDA will pay the bearer in lawful money of the United Stated of America at MATIONA~ PARK BANK, in the City of New York, State of New York, being six months' interest then due on its Refunding Bonds, Series A-2, dated January 1st, 1928, payable from a tax to be assessed, levied and collected upon all taxable property within the bound- aries of the said City of Sanford, Florida. CITY COMMISSION. SANFORD, FLORIDA: MINUTES Ad.ice, meal ]deetin~ - January 17 ~ Twenty-third Judicial on the day of of Validated and confirmed by a Circuit of the State of Florida, in and for Seminole County, A.D. 1928 and entered and recorded on the A.D. 1928, in Chancery Order Book No. , on Page the records of the Circuit Court of the Twenty-third Judicial Circuit of the Florida, in and for Seminole County. decree of the Circuit Court of the rendered day of State of Clerk of the Circuit Court of the E3rd Judicial Circuit of the State of Florida, in and for Seminole County. (SKID BONDS TO BE ENDORSED ON T~3E BACK AS FOLIOWS:) CITY OF S&MFORD, FLORIDA REF*~TDING BOND SERIES A-2 $1000 Interest % per annum Dated ~anuary 1st, 1928 Interest payable Semi-annually on January 1st and July 1st Principal due January 1st, 19 Both Principal and Interest Payable at National Park Bank I~ew York, N. v. BE IT FT~THER RESOLVED That for the purpose of providing funds for the prompt payment of principal and interest of said bonds as the same become due there shall be and there is hereby levied, assessed and ordered to be collected upon all t~xable property within the boundaries of the City of Sanford, Florida, a direct continuing annual tax during each year said bonds, ar any of them, are outstar~iing and unpaid, sufficient to product in each year the interest on said bonds becoming due in said year, and an amount sufficient to provide for a sinking fund to pay the principal of said bonds as they severally mature, and said special tax, as and when collected, shall be placed in said sinking fund and used exclusively for the payment of interest ar~ the redemption of said bonds as they severally become due and payable and shall not be used for any other purpose, and, BE IT F~T~R RESOLVED That when said bonds are lawfully sold, same shall thereupon be duly executed by said l~ayor and the said Clerk in the form and manner hereinabove set forth, and said bonds when so executed shall thereupon be forth- with delivered by said Mayor and said Clerk to E. F. Housholder, S. O. Chase and Frank ~. ~i!ler, composing the City Commission of the City of Sanford,Florida, ex-officio bond trustees of the City of Sanford, Florida, or their successor or successors in office CITY COMMISSION, SANFORD, FLORIDA. MINUTES A~J0urned Meeting - J~nuary 17, BE IT FT~THER RESOLVED That this Resolution shall be and become effective immediately from and after its passage and adoption. Adopted this 17th day of January A.D. 1925. E. F. ttousholder S. O. Chase Attest: Frank L. Miller As the oity Commission of the City of Sanford, Mlorida. L. R. Philips ciSy Ulerk of the Oi~y of Sanford, Florida. Thereupon the roll was called upon the adoption of said resolution and those voting upon said resolution were: E. F. Uousholder - Aye S. O. Chase - Aye Frank L. Miller - Aye The Clerk was ordered to advertise for sale on the 2nd day of February A.D. 1928 at two o'clock P.E. 261 bonds of the issue of $261,000,00 authorized by Resolution No. 366. The bonds to be offered for sale on the 2nd day of February A.D. 1928 to be the bonds described in the notice of sale of said bonds hereinafter set forth in words and figures as follows: NOTICE 0W SALE OF B0~S Notice is hereby given that up to and until two o'clock P.~. on the 2nd d~y of February A. D. 1928, sealed proposals will be received by E. F. ~ousholder, S. 0. Chase and Frank L. ~iller, as the City Commission of the City of Sanford, Florida, an~ as ex-officio bond trustees of the City of Sanford, Florida, at the City Hall at Sanford, Florida, for the purchase of refunding bonds of the City of Sar~or~, Florida to the amount of Two Kundred and Sixty-one Thousand (~261,000.00) Dollars, authorized under an act of the Legislature of the State of Florida, 19S?, entitled: "AN ~CT to authorize the Issuance of Refunding Bonds by Counties, Cities, Towm and Other Municipal Corporations and Taxing Districts and to Provide for Their Payment", duly approved by the Governor on the 6th day of June, A. D. 1927, to be issued pursuant to a resolution of the City Commission of the City of Sanford, Florida, duly adopted. Bidders are requested to name the rate of interest the bonds are to bear in multiples of 1/4 of 1%, not exceeding six per centum per annum. Split interest rate bids may be submitted. Award to be made at the lowest rate of interest and highest price on such lowest rate. The Two '~undred and Sixty-one Thousand (%261,000.00 Dollars refunding CITY COMMISSION, SANFORD, FLORIDA, MINUTES ~dJourned ~eeting - January l?, 19 28 One Thousand (~l,000.00) Dollars each, maturing ten bonds per year from January l, 1951 to January 1st, 19~8, both dates inclusive, and fifteen bonds per year from January 1st, 19~9 to January 1st, 195~, both dates inclusive, ~d twenty-one bonds maturing January 1st, 1955. The numbers of the bonds and the maturities thereof aggregating Two Hundred and Sixty-one Thousand (.~61,000.00) Dollars to be offered for sale on the 2nd day of Tebruary, ~. D. 19E8~ being as follows, to-wit: Bonds numbered fram I to Bonds numbered from ll to Bonds numbered from 21 to ~onds numbered from Z1 to ~onds numbered from A1 to Bonds numbered from 51 to Bonds numbered from 61 to Bonds n~ubered from ?l to Bonds numbered from 81 t~ ~onds numbered from 91 to ~onds numbered fro~ 101 to ~onds nu~bered from lll to 1E0 Bonds numbered from l~l to 150 Bonds numbered from l~l to l~O Bonds numbered from l~l to Bonds n~bered from l~l to 160 Bonds numbered from 161 to l?0 Bonds numbered from l?l to 180 Bonds numbered from lB1 to Bonds numbered from 196 to 210 Bonds numbered from Ell to Bonds n~mbered from 226 to 2~0 Bonds numbered from ~l to l0 inclusive ~0 inclusive 50 inclusive 40 inclusive 50 inclusive 60 inclusive 90 inclusive 80 inclusive 90 inclusive 100 inclusive ll0 inclusive~ inclusive inclusive~ inclusive inclusive inclusive inclusive inclusive inclusive inclusive inclusive to mature Jan. l, 1951. to mature Jan.1, 19~S. to mature Jam. 1 to mature Jan. 1 to mature Jan. 1 to mature Jan. 1 to mature Jan. 1 to mature Jan. 1 to mature Jan. 1 to mature Jan. 1 to mature Jan. 1, to mature Jan. l, to mature Jan. to mature Jam. to mature Jan. to mature Jan. to mature Jan. to mature Jan. to mature Jan. to mature Jan. 195~. 1955 19~6 1957. 1958. 1959. 19~0. 1941. 19~. l, 19~5. l, 1944. l, 1945. l, 19~6. l, 19~7. l, 1948. l, 19~9. l, 19S0. to mature Jan.1, 1951. inclusive, to mature Jan. l, 1952. inclusive, to mature Jan. l, 1955. No bid at less than 9~% of par and accrued interest to date of delivery will be considered, and the Commission reserves the right to reject any and all bids if, i~ its opinion, the price offered therefor is inadequate or the rate too high. Said bonds constitute general obligations of the City of full faith and credit of the City of Sanford, ?lorida, is irrevoc- Sanford, Florida, and the ably pledged for the payment of the principal and interest of said issue of bonds. The bonds offered for sale are to be sold subject to the approv- ing opinion of Caldwell &~aymond, Attorneys, New York City, to be furnished by the City of Sanford, Florida. All bids must be accompamied by a certified check for two per cent of the amount of the bonds to be sold. Proposals to be addressed to Eo F. Mousholder, S. 0. Chase and Frank L. ~,~iller, as the City C~mmission of the City of Sanford, Florida, and as ex-officio Bond Trustees of the City of Sanford, Florida, at Sanford, Florida. CITY COMMISSION, SANFORD, FLORIDA. MINUTES Adjourned Meetin~ - January l?, Sanford, Florida, and as ex-officio Bond Trustees of the City of Sanford, Florida, and the seal of said City of this the 17th day of January, A. D. 1928. E. F. Housholder S. 0. Chase Attest: ~. R. Philips City Olerk. Geo. A. DeCottes, City Attorney. Frank L. Miller The City Attorney submitted Official Document A-2 prepared by Hall and Pentland, City Auditors and same was ordered filed i~ the records of the City. The City Manager, W. B. Williams, brought before the Commission the proposition of repairing the fire station, stating that Mr. E. J. Houghton was prepared to advise what repairs would be necessary. Hr. 5. J. Eoughton gave a detailed report of the condition of the fire Station stating that the estimated cos~ of repairing s~e from foundation to roof would be between .~9,000 and ~10,000. Commissioner ~iller moved that ~r ~oughton be authorized to make up a set voting on said motion were: E. F~ Frank L. ~iller of specifications to be used i~ repairing the fire station. ?pon roll call those Housholder - Aye Chase - Aye - ~ve It was moved by Commissioner Miller and seconded by Commissioner Chase and unanimously adopted that the City Manager be and he is hereby authorized to negotiate a lease of temporary Station for Fire Equipment and to proceed in conjunction with the Fire Chief to temporarily locate the Fire department in other quarters immediately. Commissioner Miller moved and it was seconded by Co~omissioner Chase and unanimously adopted that the City Manager be and he is hereby instructed to have two docks constructed on the northwest corner of the City Boat Basin. There being no further business the meeting then adjourned to meet, Thursday January 19th at $ P M 1928. ~,~ayor. Attest: City Clerk.