080628421
CITY COMMISSION, SANFORD, FLORIDA,
MINUTES
AclJcurned Session Aug_ust 6th at 2 P M
The City Comm~esion of the 0ity of Sanford, Florida met at the 0ity Hall at
Florida at Two O'Clock P M on the 6th day of August 1928.
Present: Commissioner E F Housholder. Mayor.
Sanford
Frank L Miller,
0it~ Manager George H Oairas.
City Attorney, George A DeCottes.
City 01erk F. 5. ~mson
Absent: Commissioner, 8 0 Chase.
First National Bank of Sanford submitted a proposal in writing for the purchase at p~
private sale of bonds of the City of Sanford, Florida, to the amount of $67,000.00,
authorized by resolution No. 358 of the City Commission of the City of Sanford, Florida,
adopted on the 30th day of November 1927.
The said w~ltten proposal submitted by First National Bank of Sanford was thoroughl
discussed, and thereupon, Commissioner Miller offere~ a resolution which was unanimously
adopted, in words and figures as follows to -wit:
WHEREAS, First National Bank of Sanford has submitted a proposal for the purchase
of said bonds to the amount of $67,000.00 said bonds being numbered as follows, to-wit:
Bonds Nos. 174 and 175
Bonds nos. 196 to 200 both numbers inclusive
Bonds nos. 221 to 225, both number, s inclusive
Bonds nos. 246 to 250 both numbers inclusive.
Bonds nos. 27~ to 275 both numbers inclusive.
Bonds nos. 225 to 300 both numbers inclusive.
Bonds nos. 3 1 to 325 both numbers inclusive.
Bonds nos. 346 to 350 both numbers inclusive.
Bonds nos 371.to 3~5 both numbers inclusive.
Bonds nos. 3~6 to ~O0 both numbers inclusive.
Bonds nos q21 to ~25 both numbers inclusive.
Bonds nos..446 to ~50 both numbers inclusive
Bonds nos. &81 to '90 both numbers inclusive.
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 $1,000.00 each
to be dated January 1, 1~28 and to mature serially over a period of twenty five yea~s from
and after date of lsm~ance, authorized by bonding Resolution No. 358 duly adopted on
November 30, 1927, said proposal in writing being in words and figures as follows,to-wit:
'August 6th, 1928.
Hon. Oity Comm~ssiom
Sanford, Florida.
Re: $693,000.00 City of Sanford,
Refunding Issue.
For sixty-seven ( 67 ) Bonds of the above issue , numbered as follows,
Bonds
Bonds
Bonds
Bonds
Bonds
Bonds
Bonds
Bonds
Bonds
Bonds
Bonds
Bonds
Bonds
Nos 174 and 175
Nos 196 to 200 , both numbers inclusive.
Nos.~21 to 225 both numbers inclusive.
Nos. 2~6 to 250 both numbers inclusive.
nos. 2~1 to 275 both numbers inclusive.
Nos 296 to 300 , both numbers inclusive.
Nos 321.to 325 both numbers inclusive.
Nos. 346 to 350 both numbers inclusive.
os. 37! to ]75 both numbers inclusive.
Nos.. 396 to.~O0 both numbers inclusive.
nos 4~l_to %~5 both numbers inclusive.
nos..446 to, %50 both nuSbers inclusive.
nos 481 to %90 both numbers inclusive.
Florida,
to-wit:
All bonds bearing interest at the rate of 6% per annum, all of said bonds being
422
CITY COMMISSION, SANFORD, FLORIDA,
MINUTES
Adjourned Session August 6,
at 2 P M ~$ 28
delivery.
and,
Yours truly,
FIRST NATIONAL BANK OF SANFORD
By, B F Whitner, Cashier
WHEREAS, it is the opinion of the City 0ommission of the Oity of Sauford, Florida,~ t
that the bid of First National Bank of Sanford, offering to purchase said bonds bearing interest
at the rate of 6% per annum, as hereinabove stated, at and for the price of par, and amc~ued
interest to date of delivery, is the best and highest bid obtainable for the purchase,of
said bonds as above described.
THEREFORE, BE IT RESOLVED, that the bid of First National Bank of Sanford this 'day
submitted for the purchase of bonds of the Oity of Sanford, Florida, in the amount of
$6?,000.00 as aforesaid, bearing interest at the rate of Six per centum pe~ annum, as afore,
said, 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 First National Bank of 8anfordu~on the terms and conditions set
forth in their written proposal of this date, and,
BE IT FURTHER RESOLVED; that said bonds , as above described,' aggregating the sum
of $67,000.00 authorized by the bonding resolution aforesaid, be duly delivered to First
National Be~ of Sanfordupon the payment of the sum of $6?,000.00 and accrued interest
to date of delivery and,
BE IT FURTHER RESOLVED THAT this resolution shall become effective immediately
upon its passage and adoption.
Adopted this 6th day of August 1928.
E F HOusholdsr
Frank ~ Miller
Attest:
~ S Lamso~
City Clerk.
(Seal)
As the City Commission of the
Oity of Sanford, Florida.
The Clerk submitted communication ~eceived from the Oity Attorney under date of August
6th, 1928 transmitting thrity three (33) unexecuted City of Sanford Florida six per cent
Refunding Bonds of an~ authorized issue of $693,000.00 Said communication being in words
and figures as follows:
"August 6, 1928
Mr F S Lamson
~ity Olerk.
an~ord, Florida.
Sir:
I hand you herewith thirty three (33) unexecuted City of Sanford, Florida six
per cent Refunding Bonds ~f an authorized issue of $693,000 OO said bonds being numbered
as follows:
Bonds numbered from 21 to 25 both numbers inclusive.
Bonds numbered from 46 to 50 both numbers inclusive
CITY COMMISSION, SANFORD, FLORIDA.
MINUTES
t 6,
October Jlst 1927, because the acco~u~t due the State Road Department has again been set ~p
for fundin~ and payment in official refinancing Document A-3
, Owing to the discount in the sale of the bonds issued under authority of Official
Document A-1 and the d~eoount in the sale of bonds under Official Document A-3, in the
final adjustment of the State Road Department accom~t, in all probability a few of the un-
issued bonds herewith enclosed, aa well as some of the bonds of the Refundln~ Issue under
Official Document A-~ will be sold in liquidating and paying the indebtedness of the City ~5
the State Road Department.
Yours truly,
~E0~GE A, ~ECOTTES
GAD G 0ity Attorney~
Thereupon, upon motion of Con~nissioner Frank L Miller which unanimously prevailed,
the Clerk was instructed to file ~aidunexecuted bonds in the City Safe, and to hold until
further instructions are received from the City Commission as to what further diepoeition shal~
be ~ade of them.
The 0loth was instructed to draw check in later of the First National Bank on the
Ordinary Fund for $~.00 , this ~nount representing interest at 8~ on Ordinary Fund Time
Warrant No.6575~ and Certificate of Indebtedness dated 8/1~/27 from Ju~y let to August
l~, the face of these obligations being paid through the Refinancing Bond Fund.
Upon motion d~y adopted , the Clerk was instructed that a~l Bond Trustees bonds
be cancelled as of this date and return premi~ns be adjusted, and that the sureties thereom
be released of further liability on all of said bonds from and after the date of cancellation
the cancellation thereof not to be construed as a release or discharge of the surety for
any liability which ~ have accrued on any of said bonds up to the date of cancellation.
There being no further business the meeting adjourned.
Attest~ ~.
.Oity Olerk.
424
MINUTES
CITY COMMISSION, SANFORD, FLORIDA, MEETING OF BO~D TRUSTEES AUGUST 6 ~ P M
The Bond Trustees of the Oity of Sanford, Florida met at the City mall in Sanford
Florida, at 3 O'Clock P M August ~, 1928.
Present: Bond Trustee , E F Housholder, Chairman
Frank L Miller
City Attorney, George A DeCottes.
City Clerk, Y S Lamson~
Absent: Bond Trustee, 5 0 Chase.
Bond Trustee Frank L Miller m~de the motion which was unanimously adopted, that the
Clerk be instructed to draw a check on the Bond Trustees ReflnanOing Bond Fund at the
Sanford Atlantic National B~-~ of Sanford, Florida, in favor of the First National Bank of
Sanford, Florida, in the sum of $65,600.00 , said amount bein~ the balance due on the fol-
lowing certificate of indebtedness and time warrants issued by the City of Sanford to
the First National Bank of Sanford, as evidenced by Official Document A-1 prepared by Hall
and Pentland, Certified Public Accountants, 60 per cent of said certificate of Indebtedness
and ti~ warrants having been previously paid, funds for this purpose having been dreived
from the sale of 67 bonds of an authorized issue of $693,000.00
Date Due Date Class Original Amount Previously Paid Balance.
8/%5/27 n/15/s7 o of Ind. $10,OOO.00 $6,OOO.OO $,4,OOO.OO
11/2/25. Demand TW 6575} 10,OOO.00 6,OOO.OO %000.00
1/12/26 Demand TW6950~ 3.0.,000.00 18,O00.O0 12,OO0.00
1/21/2'/ 1/21/28 Tw 3~92 1~.,000.00 8,400 O0 5,600.00
1/21/27 1/21/28 rW ]891. 75,ooo.oo 5,ooo.oo 3o,ooo.oo
10/14/25 Demand TW 6397~ 25,000.00 15,O00,00 10,OOO. O0
Total. $65,600.00
The Clerk was also instructed to draw check on the Bond Trustees Account at the
First Nation,.1 Bank, in favor of the First National Bank, for $460.~O , this amount re~re-
senting interest on Bond Trustees Time Warrants, 6950}, 3892, 3891 and 6397½ from July 1st
to August 6th 1928 at 8 per cent.
The Clerk w~s also instructed to draw check on the Bond Trustees Refinancing Bond
Account at the 8anford Atlantic National Bank for $402.00 and deposit same in the City of
~anford Interest Account at the Sanford Atlantic National Bank, this amou_ut representirg
accrued interest on the $67,000.00 Refunding Bonds sold on August 6, 1928.
There being no further business the meeting adjourned.
Attest: ~ ~
City Clerk