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070928-Regular Meetinf406 CITY COMMISSION, SANFORD, FLORIDA, MINUTES Regular i~ieetin J~ly,~, at 2 O'Clock P M City Hall , The City Commission of the City of Sa~ord Florida met in Regular Session at the Sanford Florida at two O'Clock P 1,[ on the 9th day of July 192~. Present: Commissioners E F Hou'sholder, i~[ayor. to be City Clerk City ,~,anager Frank L Miller F $ Lamson G H Cairns City Attorney, George A DeCottes Absent: Commissioner S 0 Chase. The Chairman stated that the first business taken ~ would be the consideration of proposals to purchase the .~2~,O00.:D0 City of S'nford, Florida Refunding Bonds· to bear a rate of interest not exceeding s~x mcr centum per annum, authorized by Resolution No. 3o~, adooted by the City Commission of the City of Sanford, Florida, on the l~th day of ~fay 192~ said bonds to be dated January 1, 1928, being of the denomination of ~$1000.00 each. Thereuoon the City Clerk was instructed to open and read any an all sealed proposals received for the purchase of the above bonds. '~aereupon, the Clerk announced that only one sealed bid had been filed. The Clerk was then directed to open and read said sealed bid, same being the bid of Farson Son & Co. offeri~ to purchase the above described bonds, paying therefor the smu of ~960.00 for each .i~l,o00.OO bond , vlus accrued interest to date of delivery. After full consideration of the proposal for the purchase of the above issue of bonds submitted by Farson Son & Co., Commissioner Frank L Willer offered the following resolution, which was unanimously adopted., those voting for the adoption of said resolution being: E F Housholder, - Aye Frank ~ Miller - Aye said resolution being in words and figures as follows to-wit: "'~HEREAS , on the l~th day of May, 192~, Resolution No. 368, w~s duly adomted by the City Commission of the City of Sanford, Florida, s~thorizing sm issue of bonds of the City of Sanford, Florida in the a~ of $425,000.00 said bonds to bear a rate of interest not qxceeding six mer centum per annum and to be dated January i, 192~, and mfgqE~LEAS, after due advertisement, Farson Son & Co. has submitted a proposal in writing for the purchase of said bonds to the mmount of $~25,000.00 n~nbered from I to g25, both mnubsrs inclusive, to bear a rate July 1, and January 1 of each year, P ..... . Bank in the of interest of six per centum per annmm, interest payable ~ ~ ~atzonal both vrincipal and interest being payabi~ ~t ~ ' and State of Yew v ~' ' ~ o~.~ in the denominatio~ of $1000.00 esch and to mature oez~ally over a period of twenty five years from and after the date of issuance, s~.a proposal, in writing being in words and figures as follows~ towit: Hon. City Commission Sanford, Fla. Gentlemen: For your .$[~25,000 par value Refundi~g Bond issue, whish is hereby made a oart and parcel hereof, we will pay you, Per cent interest, the s~m of $960,00 for each ~$1000.OO bond, of delivery. "July 9, 1928 described in the attached prospectus, for bonds bearing 6;I~ ( Si× ) vlus accrued interest to date CITY COMMISSION, SANFORD, FLORIDA. MINUTES Re~alar :,.'ieeti~ July 9 at 2 P M 19 407 28 Farson Son & 3o. 111 Broadway, New York, By W H Laird (?) " N.Y. .,NOTICE OF SALE OF BO~S Notice is hereby given that up to and until two o'Clock P M on the 9th day of July A.D.1928, sealed proposals will be received by E F Housholder, S 0 Chase and Frank L Liitler, as the City Commission of the City of Sanford, Florida, and as ex-officio bond trustees of the City of Sanford, Florida, at the City Hall at Samford Florida, for the purchase of refundirg bon~s of the City of Sanford Florida, to the amount of Four Hundred and Twenty Five Thous~md ($425,OO0.!00~ Dollars of an authorized issue of refunding bonds in the sum of Four Hundred and Twenty Five Thousand ($~25,000.00) Dollars, authorized under an Act of the Legislature of the State of Florida 1927, entitled "An Act to Authorize the Issuance of Refunding Bonds by Counties, Cities , Towns and other Municipal Corporations and Ta×ing Districts and to Provide for ~neir Payment," duly approved by the Governor on the 6th day of June A D 1927, to be issued, pum'suant to a resolution of the 'City Co~mission of the City of Sanford, Florida, duly adopted. Bidders are requested to name the rate of interest the condo are to bear in multiples i ~ six ocr centum ocr smnum. Split interest rate bids may be submitted. of 1/4 of 1~ not excee, n~ . Aw~rd to be made at the lowest rate of interest and highest price on such lowest rate. The City reserves the right on the date of the sale to sell only bonds of the above issue to the amount of ~3~,000.~O Should the City decide on the date of the sale to sell bo~ds only to the amount of $345,000.OO of the above issue, the successful bidder shall have the right to select and desig- nate the maturities of the bonds to the amount of $345,000.00 , then sold by the City. The above bonds have been validated by a decree of the Circuit Court of the Twenty- Third Judicial Circuit of the State of Florida, rendered on the 12th day of June A D 1928, and ~ecorded in Chancery Order Book 12, On page The limitation of time within ~ich an appeal can be taken from the decree validat- · ._ s~,~d wtlidation decree has been taken and all inz said bonds has expired, and no a~oeal from questions of law and fact with regard to the validity of said bonds by virtue of said decree have been forever placed in repose. The Four Hundred and Twenty-five Thousand (~425,000.00) Dollars refunding bonds to be sold are dated January Ist, 192~, interest payable semi-annually on July 1st, and January 1st, of each year, both principal and interest oe~ng payable at N~t~onal Park Bank in the City of l~ew York, State of Ne~ York, said bonds being of the denomination of One Thousand (~$1,000.00) Dollars each, maturing thirteen bonds per year from January 1st, 1931, to January let, 1940, inclusive, and fifteen bonds per year from Jaunary 1st, 19~1 to J~_nuary 1st, 1945, inclusive, twenty bonds per year from January 1st, 1946 to January 1st, 1950 , inclusive, and forty bonds per year from January let, 1951 to January 1st, 1953,. The numbers of the bonds and the maturities thereof a~?~regating Four Hundred and Twenty Five Thosand ($~25,O00.00) Dollars of said authorized issue of Four Hundred and Twenty five thousand ($~25,000.00) Dollars to be offered for sale on the 9th day of July A D 1928, be~n,~o as follows to-wit: Bonds numbered from I to 13 inclusive to mature Jan l, 1931 Bonds n,mubered from 14 to 26 inclusive to mature Jan l, 1932 Bonds numbered from 27 to 39 inclusive to n~ature Jan l, 1933 Bonds n~bered from 40 to 52 inclusive to mature Jan l, 193~ Bonds nt~mbered~from ~5.3 to 65 inclusive to mature Je~ l, 1935 40S CITY COMMISSION, SANFORD, FLORIDA, MINUTES Bonds numbered from Bonds numbered from Bonds n~mbered from Bonds nurabered from Bonds ntu'nbered from Bonds numbered from Bonds numbered from Bonds numbered from 286 Bonds Bonds Bonds 161 to 175 inclusive to mature Jan 1, 19~, 17~ to 190 inclusive to mature Ja"n l, 19qq 191 to 205 inclusive to mature J~n l, ll~,~~ 206 to 2,25 inclusive to mature Jan l, 226 to 2q5 inclusive to mature Jan l, 19.~7 2~6 to 26~5 inclusive to ~mature Jan l, 19~8 266 to 2~~, inclusive to mature Jsn l, 19q9 to 30~ inclusive to m~ture Jan l, 195© numbered from 306 tc 3q5 inclusive to ~m~ture Jan l, 1951 nuzabered from 3~6 to ~85 inclusive to mature Jan l, 1952 numbered from 386 to q25 inclusive to mature Jsn l, 1953 No bid at less than 95% of par and accrued interest to date of delivery will be considered, and the Co~nission reserves the right to reject any and all bids if, in its offered opinion, the price/therefor is inadequate or the rate too high. Said bonds constitute general obligations of the City of Sanford, Florida, and the full faith and credit of the City of Sanford Florida is irrevocably pledged for the pay- ment of the principal and interest of said issue of bonds. The bonds offered for sale are to be sold Subject to the approving opinion of Caldwell & Raymond, Attorneys, New York City, to be furnished by the City of Sanford, Florida~ All bids must be accompanied by a certified check for two ~r cent of the ~uount of tile bonds to be sold. Prooosals to be addressed to E F Housholder , S O Chase and Frank L Miller as the City Commission of the City of Sanford, Flori d~, and as ex-officio Bond Trustees of the City of Sanfor d, .ztne~s our hands as ex-officio Bond Trustees of the 0ity of Sanford, Florida and the seal of 29th day of June A D 192~. E F Houshol~.er Florid~, at Sanford, Florida. the City Commission of the City of $anford, Florida and as said City on this th~ S 0 Chase Frank L ~,~iller (Seal) Aztest · F S Lamson City Clerk. George A DeCottes City Attorney. .) and, "WHEREAS, it is the opinion of the City Commission of the City of Sanford, Florida that the bid of Farson Son & Co. offering to purchase the above described issue of bondg bearing a rate of interest of six per centum Der annnm, should be accepted, "THEREFORE ,BE IT RESOLVED that the bid of Farson Son & Co. this day submitted for the purchase of said bonds of the City of Sanford, Florida in the a%,regate~.o amount of $$25,O00.OO 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 tke s~ne is hereby awarded to Farson Son & Co upon the terms and conditions set forth in their w~itten proposal of this date, and. i "BE IT FURTHER REoOLV~D, that in making delivery of t~ above bonds to the purchaser CITY COMMISSION, SANFORD, FLORIDA. MINUTES Re~gular Y. eetin~ July 9 2 P ~.~ 19 28 issue of bonds aggregating ~25,000.00 will be delivered to upon the terms and conditions set forth in its proposal. upon the purchaser at the price and "BE IT FL~THER RESOLVED that this resolution shall become effective immediately its passage and adoption." Upon motion made by Commissioner Frank L Miller, which was unanimously adopted, the Clerk was ordered to write the Board of County Commissioners of Seminole County Florida, requesting immediate payment to the City of Sanford, of one half of the Road and Bridge Fund taxes of 1927 collected by the County on property in the City Limits. Connuunication fromMr E L Filby, Chief Engineer, Florida State Board of Health Bureau of Engineering, under date of July 3, 1928, setting forth reasons why the City reser- voir should be covered and the benefits and savings which will accrue by eliminating the growth of algae and the presence of red worms in the water during the s~mmer months, as well as a saving of the water now wasted through having to wash the reservoir each week. Matter referred to the City ~anager with instructions to proceed to St. Aua~astine and investigate the new cover recently placed over the reservoir at that palce. City Attorney brought up the matter of the accidents occuring at the intersection of Park Ave and Twentieth St. The matter was referred to Chief of Police R G ~illi~ms with instructions to com- municate with various cities in Florida looking toward the purchase of a red and green stop and go light to be placed at this intersection, ~ud to report to the Commission at their next regular meeting. Communication from ~ F S Allen under date of July 3, 1928 requesti~g permission to use a small dock belonging to the City lyi~ between the Thresher Bros barges and the Sanford Yacht Club, as an unloading place for a freight line between Jacksonville and Senaford, said dock to be widened to ~L~; width of its head for sixty feet and a warehouse 30~ x 50' built ~ thereon, at his' o~n expense. ~r Allen requesting permission to use this dock for about two years, agreeia~ to pay all costs of in~rovements so there will be no cost of any kind accruing against the City of Sanford, mud also a~reei~ to remove the warehouse when he leaves the dock, and l~,vee~ all other improvements for the benefit of the City. Permission gra:~ted provided that it be arranged so that the public will not be deprived of the use of the dock, which has heretofore been used as a landing place for small pleasure and racing crafts. Report from Municipal Library Read and a~oproved. Report from City Manager for the month of June read and approved. Permission granted Fire Chief Cleveland for the use of the Fire Chief's automobile in going to Atlanta Ga. to attend the National Convention of Fire Chiefs, held at that place, expenses of the trip to 'se borne by himself. Minutes of Regular meeting of June 25th. Special meeting held June 27th smd Special meetir~ held July 2nd, 1925 read and approved. & CO. Fund, Upon motion duly adopted the Clerk was instructed to purchase from Wright ~arlow through the Sanford Atlantic Natioral Bank from funds now in the City of Sanford Sinking and the from July 1st, Gas Plant Sinking Fund, the following City of Sanford, Bonds, with accrued interest 192~ to date of delivery: CITY COMMISSION, SANFORD, FLORIDA, MINUTES REGULAR :i~ETII~G JULY 9, at 2 P b: 2S To be p,&rchased by the 1 il/ 52 53 i/i 1/1, 53 i/i 55 1/i.5} Interest Series q~ Pub Ut i]_ity p,:p Pub Utility (G~sJ 65~~ PubSeries Utility A-2 (Gas) 6 ~ Series A-2 6 ~} Series City of S D_ford o~n~ing Fund. of Bor~. Price 9S5.00 9 .0o 225 1000.00 227 1000.00 228 1000.00 o ~f Seriea A-2 229 1000.00 ~ N " A-2 S~O 1000.00 o ~ " A-2 241 1900.00 6~ ~ " A-2 2~2 lO00.O0 )o " A-2 243 1000.00 ? '~ " A-2 2~[~ lO00.00 ,, i-s looo.oo 6 ~f " A-2 250 lO00.O0 p " A-2 ~_47 1000 O0 The Clerk was also instructed that in view of the fact .h.t the Public Bonds Nos 123, 12[~, 125 are g~s bonds and are purchased from funds set aside in the z~._re ~l~nt bonds, these b~nds should be cancelled u~on ~n~ Plant Sinkinq ~nd to ~ receipt, the other bonds to be carried as an investment of the funds purchasing same. Invoices and Da. yr.olls for the month of June . 1~._o, properly audited and vouchered ~ ~ ' ' ~ - lns~_~cte~ to draw by the Accou~in~ Denartment , examined, so,roved zn¢ fao .~lerk ' ~-~" checks in payment of same. ?nk statenents for the month of June 1928~ in all accom%ts, submitted, exmuined ~d ordered filed. Clerk was instructed to rrm a small advertisement in the Doily Bond Buyer, fi~n- cial jo~nal, stating th'at the City will be interested in receiving proposals for pur- chasing its own bonds in small q~ntities. Commissioner !Jill. er offered the fo!lowi~ resolution, which was unanimously adopted: BE IT RESOLVED, that until further action by this Commission, payment of all fees . ~,~u~mce of buildin~S ~ermits ~' the Buil~in/j Code of t~e payaol~ by a~plicants for the '~ .... ~ "~ ~ ' . , ~-,uzt~ while this City of o~=n~o~, Florida be waived, m~a no a~0olic%nt for a builiing p%~ ' resolution is in force shall be required to pay to the City of Sanford a fee for the is- suance of a buildi~%~ permit. ~ere be~no no further business the meeti~ adjourned. / / / ~- Mayor. Att est: City