081628-Bond Trustees MtgCITY COMMISSION, SANFORD, FLORIDA.
MiNUTeS
Meeting Bond T~ustees August 16 4:30 P M
~9 2~
Present: Bond Trustee
Clerk.
Absent: Bond Trustee:
The Bond Trustees of the City of
Florida at 4:30 P M. August 16, 192~.
, E F Housholder,
Frank L Miller.
F S Lamson
S 0 Chase.
Sanford Florida met in the City Hall at 8anford
0hairman
The Clerk reported the receipt at the First National Bank of Sanford, of $410,754.17
being proceeds from the sale of $425.000 O0 Refinancing Bonds to Farson Son & Co. with accrued
$408,000.O0
ii,
,75N.17.
10,75 .17
interest as follows:
Proceeds from $425,O00.00 Bond sale at 96%
Accrued Interest
Total.
Thereupon, the Clerk w~s instructed to open an account at the First National Bank of Sanford
entitled "Bond Trustees Refinancing Bond Fund" and to have deposited therein the proceeds of
the bond sale plus accrued interest as aforesaid.
The Clerk was then instructed to draw a check on said bond trustees refinancing bond fund
in the amojnt of $2,754.17, representing the accrued interest, and to deposit said amount in the
City of Sanford Interest account, at the Sanford Atlantic National Bank.
The Clerk was then instructed to draw a check on the said Bond Trustees Refinancing Bondi
Fund, in favor of the Atlantic Natiomul Bank of Jacksonville, in the amount of $334~60.00 and~
to deliver said check to Mr Linton Allen, President of the Sanford Atlantic National Bank,
securing a proper receipt therefor, for transmittal to the Atlantic National Bank of Jackson-
ville, to be deposited in the City of Sanford Bond and Coupon Redemption ~Account for the
purpose of redeeming City of Sanford Bonds and Coupons due July l, 1928, such bonds and cou-
pons as have already been presented for payment, having been purchased by the Atlantic Nation-
al Bank for account of the City of Sanford.
The Clerk was also instructed to request that the $188,887.50 heretofore deposited i:
the Special Bond & Coupon Redemption Account at the Atlantic National Bank be returned imme-
diately upon the receipt of the above check, less $14,327.50, this latter amount represent-
ing interest on gas bonds and $161,0OO.00 certificate of indebtedness due July l, 1928, not
included in the $334,560.00 Refinancing Bond Fund ~heck.
The Clerk was also instructed to write the Atlantic National Bank of Jacksonville,
through the Sanford Atlantic National Bank, authorizing the transfer of the $14,327.50 from
the Special Bond & Coupon Redemption ~ccount, to the City of Sanford Bond & Coupon Redemption
Account for the purpose of redeeming interest coupons on gas bonds and $161,000.00 Certificate
of indebtedness due july l, 1928, on account of this amount not having been included in the
Refinancing Official Document A-3 and therefore not included in the $334,960.00 Refinancing
Bond Fund Check.
The Clerk was next instructed to prepare a plan for the disbursement of the balance of
the proceeds of this bond sale as outlined and provided for in Official Document A-3.
There being no further business the meeting adjourned.