022028CITY COMMISSION. SANFORD, FLORIDA.
mINUtES
Adjourned Session Feb. 20 at 4 P M
The City Commission of the City of
the City Hall at Sauford, Florida at Fottr O'Clcok P M on the
Present: Commissioners E F Housholder Mayor
" S 0 Chase
" Frank L Miller
City Clerk
City Manger
City Atty.
Sanford, Florida met in an adjourned session at
20th day of February 1928.
F S Lamson
G H Cairns
George A DeOottes
E F Ho~sholder - Aye
S 0 Chase - Aye
Frank L Miller - Aye
said resolution being in words and figures as follows, to-wit:
"WHEREAS, on the l?th day of January 1928, Resolution No. 366 was duly adopted by the
City Commission of the City of Sanford, Florida, authorizing an issue of bonds of the city
of Sanford, Florida, in the sum of $261,000.00 said bonds to bear a rate of interest not
exceeding six per centum per annum and to be dated January l, 1928, and
"WHEREAS, said bonds may be legally sold at private sale, and
"WHEREAS, Wright, Warlow & Company has submitted a proposal for the pttrchase of said
bonds to the amount of $261,000.00 numbered from i to 261 , both numbers inclusive, to bear
a rate of interest of six per centum per annum, interest payable July 1 and January I of each
year, both principal and interest being payable at National Park Bank in the City of New York
and State of New York, said bonds being in the denomination of lO00.O0 each and to mature
serially over a period of twenty five years from and after the date of issuance, said proposal
in writing in words and figures as follows, to-wit:
Sanford, Florida
being':
The Chairman stated that the first business to betaken up would be the consideration of!
any proposals submitted to purchase the $261,000.00 City of Sanford, Florida Refunding Bonds
to bear a rate of interest not exceeding six per centum per annum, authorized by Resolution
No. 366, adopted by the City Commission of the City of Sanford, Florida on the 17th day of
January 1928, said bonds to be dated January 1st, 1928, being of the denomination of $1000.0O
each.
Thereupon, the question arose as to whether said bonds might be legally sold at
private sale and the City Attorney was called upon for an opinion in this regard, and the
City Attorney thereupon advised the Commission that said issue of bonds could be legally sold
at private sale.
Wright, Warlow & Company then submitted a proposal in writing for the purc~e at pri-
vate sale of the said bonds of the City of Sanford, Florida as above described, offering to
purchase said bonds, bearing a rate of interest of six per centumper annum, at par and
accrued interest to date of delivery.
After full consideration of the proposal for the purchase of the above issue of bonds
submitted by Wright, Warlow & Company, Commissioner Frank L 2iller offfered the following
resolution, which was unanimously adopted, those voting for the adoption of said resolution
CITY COMMISSION, SANFORD, FLORIDA,
MINUTES
Adjourned Session
~9 28
Sirs:
For $261,000.00 0i~y of Sauford, Florida Refunding Bonds, serial retirements, to be
dated January 1, 1928 , authorized under Bonding Resolution No. 366, adopted on the 17th day
of January 1928, said bonds being of the denomination of $1,000.00 each and to bear a rate
of interest not to exceed six per cent per annum, and having the following maturities, to-wit:
Bonds numbered from
Bonds numbered from
Bonds n~nbered from
Bonds numbered from
Bonds numbered from
Bonds numbered from
Bonds numbered from
Bonds numbered from
Bonds numbered from
Bonds numbered from
Bonds numbered from
Bonds numbered from
Bonds numbered from
Bonds numbered from
Bonds numbered from
Bonds numbered from
Bonds numbered £rom
Bonds numbered from
Bonds nUmbered from
Bonds numbered from
Bonds numbered from
Bonds numbered from~
Bonds numbered from
1 to 10 inclusive, to mature Jan 1, 1931
11 to 20 inclusive, to mature Jan l, 1932
21 to ~0 inclusive to mature Jan l, 1933.
~ to ~0 inclusive, to mature Jan l, 193~
to 90 inclusive, to mature Jan l, 193~
~l to bO, inclusive to mature Jan l, 1936
61
to 70 inclusive, to mature Jan 1. 1937
71 to 80 inclusive , to mature Jan l, 193~
al to 90 inclusive to mature Jan l, 1939
91 to 100 inclusive to mature Jan l, 19~0
lO1 to llO inclusive, to mature Jan l, 1951
lll to 120, inclusive to mature Jan l,
121 to 130 inclusive to mature Jan l, 19~B
131 to 140 inclusive to mature Jan l, 19~4
l$l to 150 inclusive, to mature Jan l, 19~
l~l to l~O i~clusive, to mature Jan l, 19~6
161 to l?O, mnclusive to mature Jan l, 1951.
17l to 180 inclusive , to mature Jan 1.
lB1 to 195,inclusive, to mature Jan l, 1959
196 to 210 inclusive, to mature Jan l, 1950
211 to 2~5, inclusive to mature Jan l, 1951
226 to 2~0 inclusive, to mature Jan 1. 1952
251 to 261 inclusive, to mature Jan l, 1953
we will pay you for said entire issue, bearing a rate of interest of six per cent'per annum
interest payable semi-annually, in New York, the sum of TWO HUNDRED AND SIXTY ONE THOUSAND
($261,000.00) DOLLARS; and accrued interest to date of delivery, said bonds to be delivered
to Sanford Atlantic National Bank at Sanford, Florida, or to State Bank of Orlando, at our
election.
This bid is made upon the condition that you are to furnish us
proving opinion of Caldwell & Raymond, Attorneys of New York City as
bonds, together with the entire transcript of the proceedings.
This bid is for immediate acceptance.
the unqualified ap-
to the validity of these
Yours very truly,
WRIGHT, WARLOW & CO~ANY
By: L C Leedy
WHEREAS, it is the opinion of the City Oommission of the City of Sanford, Florida
that the bid of Wright, Warlow & C~mpany offering to purchase the above described issue
of bonds bearing a rate of interest of six per centum~per annum, should be accepted.
THEREFORE, BE IT RESOLVED, that the bid of Wright, Warlow & Company this day sub-
mitted for the purchase of s~id bonds of the City of Sanford, Florida in the aggregate amount
of $261,000.O0 bearing interest at the rate of six per centum per annum, as above particularly
described, be and the same is hereby accepted, and
BE IT FURTHER RESOLVED, that the sale of said bonds as above described be and the same
is hereby awarded to Wright, Warlow & Company upon the terms and conditions set forth in
their written proposal of this date and,
"BE IT FURTHER RESOLVED, that said bonds abovedescribed aggregating the sum of
$261,000.00, authorized by the bonding resolution aforesaid be duly delivered to Wright, War-
low & Company upon the payment of the sum of $261,000.00 and accrued interest to date of
CITY COMMISSION, SANFORD. FLORIDA.
MINUTES
Feb. 20,
Attest~~
Mayor
340
MINUTES
CITY COMMISSION, SANFORD, FLORIDA,I~EETII~G BOND TRUSTEES
Feb. 20, ~t 5 P M. 19~
The Board of Bond Trustees of the City of Sanford, Florida, met at the City Hall
in Sanford, Florid~ at 5 P M on February 20th. 1928.
Present: E F Housholder, Chairman
S 0 Chase
Frank L Miller
George A DeCottes, City Attorney
F S Lamson, City Clerk.
Minutes of meeting of January 23rd were read and approved.
Nr Niller moved that City Clerk, F S Lamson serve as Clerk of the Board of Bond Trustees
Seconded by ~r Chase and unanimously adopted.
Comm~ication from Hall & Pentland, submitting schedule of payments to complete the
disbursement of the balance of the proceeds of the $510,000 .00 refinancing bonds was ap-
proved and checks ordered drawn to pay same as appearing in Supplement No. 2 to Document A-1
Communication from the First National Bank certifying to the payment of interest to
January 2:~ 1928 and payment of 60% of the principal of various Time ~arrants and Certifi-
cate of Indebtedness, as listed therein, was read, approved and ordered spread on the
Ninutes, as follows:
Bond Trustees, City of Sanford
San~ord, Florida.
',February 15, 1928
Gentlemen:-
This will certify that we have this d~y made the following listed endorsements
of principal and interest on City of $~ford paper which we hold, as evidenced by your
refinancing check ~1002, dated January 20, 1928, endorsements showing as of January 21
1928, 60% on principal and interest in full to January 2, 1928:
Date Due Date Class Sched~ule Amount 60%
Interest
~ll.12
$10,000.00 6,000.00
10,000.00 6,000.00
25,000.00 15,000.O0 933.33
30,000.00 1~,000.O0 1133.33
75,000.00 45,000.00 3o 6.71
14,000.00 8,400.00 563.12
98,400.00 ~02.05
? oo.oo
$10 802.05
Very truly yours
B F Whitner
Cashier.
s/15/27 11/15/27 O of Inc.
l~/2/25 Dem. TW .657~-
10/1 /25 Cern
1/12/26 Dem TW 6950~
1/21/ 7 1/al/2 3891
l/l/2? 1/21/28 TW 3892
I certify that I witnessed the endorsements on City of Sanford Time warrants and
certificate/ of Indebtedness as set out above, this 15th day of February A.D.1928
8 G Gray
There being no further business
the meeting adjourned.
Attest: ~
Clerk.
Bond Trustees of
~anford, Florida.
the.City of