062728-Speical MeetingCITY COMMISSION, SANFORD. FLORIDA.
mINUTES
Special Meetin&~ June 2,7 ~.t ~ ~l~,~o~k p ~_ 19 ...
403-
The City Commission of the City
City Hall in Sanford, Florida at 2 O'Clock P M June 27,
Present: Commissioner E F Housholder, Mayor
" Frankl L Miller
City Attorney, George A DeCottes.
City Clerk, F S Lamson
City Manager, George H Cairns.
Absent: Commissioner S O Chase.
of Sanford, Florida met in Special Session at the
1928.
Commissioner Miller offered Resolution No. 3,70 which was unanimously adopted,
said Resolution being in words and figttres as follows:
RESOLUTION 370
WHEREAS, the interest re~uirements of the City on its bonded debt as of July l, 1928
:amounts to the sum of $188,887.50 and,
WHEREAS, ow%ng to delinquencies in the collection of personal and real taxes as of
!June 15, 1928, there is an existing deficit on account of the debt service interest account
in the sum of $36,855.24, and
WHEREAS, it is necessary to provide all interest requirements on the bonded debt of
the City prior to July l, 1928, therefore,
BE IT RESOLVED, that the City Auditor and Clerk, be and he is hereby directed to
issue a check of the City , drawn on the ordinary fund of the City on deposit at the First
National Bank of Sanford, Florida, in the amount of $36,845.24, and that said check be
deposited to the credit of the City of Sanford, Florida, in the checking account of the City
at the Sanford Atlantic National Bank, known as the "Interest Account,,, and,
BE IT FURTHER RESOLVED, that the Auditor and Clerk is hereby directed to transfer from
!the Special Assessment account of the City on deposit at the First National Bank of Sanford,
iFlorida, the sum of $55,205.34 to the Interest Checking Account of the City in the Sanford
!Atlantic National Bank, and ,
BE IT FURTHER RESOVED, that the City Auditor and Clerk is also directed to issue
ia check of the City on the debt service checking account of the City in the Sanford Atlantic
iNational Bank in the sum of $188,887.50 payable to the Atlantic National Bank of Jacksonville
land,
BE IT FURTHER RESOLVED, that the City Auditor and Clerk is hereby instructed and directed
itc cause the Sanford Atlantic National Bank to forward said check to the Atlantic National Bank
icl Jacksonville, with instructions to the Atlantic National Bank of Jacksonville, to deposit sai~
!check in a special checking account , to be known and designated as the"0ity of Sanford, Florida
)ecial Bond Coupon Redemption Account" and ,
BE IT FURTHER RESOLVED, th&t the City Auditor and Clerk, be and he is hereby further
instructed to see that said New Special Checking Account with the Atlantic National Bank of
iJacksonville, as aforesaid, is secured by proper securities and collateral, to be approved by
the legal department of the City of Sanford, Florida, and acceptable to the City Commission,
said collateral to be forthwith submitted by the Atlantic National Bank of Jacksonville to
the City in the form of trust receipts.
Adopted this 27th day of June A.D. 1928.
CITY COMMISSION, SANFORD, FLORIDA,
MINUTES
Special Meeting June 27
at 2PN
On motion d~Lly adopted, the Clerk was instructed to draw checks in payment of six
months interest to July 2, 1928 of the following time warrants and certificate of indebtedne
held by the First National Bank of Sanford, Florida.
ORDINARY Fund.
Date Due Date. Class Original Issue Balance Interest
ll/2/25 Demand ~ T.W. 6575~ lO,O00.O0 4,000.00 160.OO
8/15/27 11/15/27 C Of Ind. 10,000.00 4,000.00 160.00
BOND TRUSTEES ACCOUNT.
1/12~26 Demand T.W.6950~ 3p,OO0.OO 12,O00.O0 480.00
1/21/27 1~21~28 T.W.3892 l~,O00.OO 5,600.00 224.O0
1/21/27 1/21/28 T.W.3891 75,O00.O0 30,CO0.00 1200.00
10/14/25 Demand T.W.~397~- 25,000.00 lO,OOO.O0 400.00
of the above time warrants being purported time warrants of
None
the City of Sanford
pledged by the Seminole County Bank to
There being no further business,
July 2, 1928.
Attest:
0ity Clerk.
the First National Bank as collateral security.
the meeting adjourned to meet at 2 o'clock P. N.
Mayo
S8