110528 miNUTES
....... Adjoumned Session Nov.
CitY COMMISSION, SANFORD.
471
The City Commission of the City of Sanford Florida met in adjourned session
at the City Hall, Sanford, Florida November § at 20IClock P N 1928,
Present: Commissioner E F Housholder, Mayor
" Frank L Niller.
City Clerk, Y S Lamson
City ~anager, George H Cairns.
City Clerk submitted Trust Receipt No. 6 received from the Trust Department of
the First ~ational Bank of Sanford, Florida amounting to $6?,000.00 as additional security
for City of Sanford funds in the First National Bank of Sanford, Florida, said receipt being
in words and figures as follows :
City Commissioners and Bond Trustees
City of Sanford, Sanford, Florida.
"September 21, 192~.
This will certify that the Trust Department of the First National Bank of Sanford
~a~r~, Florida holds in trust for your account the following described bonds of the City
of Sanford:
Sixty Seven (67) City of Sanford, Refunding Bonds Se=les A-1 Each $1,000.00
The above described bonds are deposited by the First National Bank of Sanford
Commercial Department , as security for any and all deposits in the Said First National Bank
to the credit of the City of Sanford, municipal funds.
Very truly yours,
FIRST NATIONAL BANK 0Y SANFORD, FLORIDA : TRUST DEPARTMENT
BY: N V Bradbury, Assistant Trust Officer. #
Trust Receipt was approved and ordered filed in the 0ity Safe Deposit box, and the
Clerk instructed to return to the Trust Department of the First National Bank of Sanford,
Florida Trust Receipt previously received amounting to $65,600.00 , covering City of
Sanford Time Warrants which have since boo-paid.
Mr Edw. L Phillips, representative of Wright , Warlow & Co. ; Orlando Fla.
submitted a proposition to the City Commission to sell to the City Five City of Sanford
Florida 5~% Improvement Bonds (Gas Plant) of an issue of $200,000.00 dated July l, 1926
and due July l, 1956 at a price of $960.00 for each $1000.00 bond. Also two City of Sanford
5~% Improvement Bonds of an Issue of $470.000.00 dated Jan l, 192~ and due July l, 1930
at the same price, plus accrued interest on all the bonds from July 1st, 192~ to date of
delivery.
In view of the fact that there is now $755~.33 in the Gas Plant Sinking Fund at
the First National Bank available for purposes of investment, Commissioner Mille= made
the motion , which was unanimously carried that the proposition of Wright,Wallow and Company
be accepted, and the Clerk was instructed to draw check in payment of said bonds, from the
Gas P~ant Sinking Fund, lmm~ediately upon delivery.
The Clerk was also instructed, that inasmuch as the Gas Plamt Sinking Fund is to
be used for the purpose of retiring Gas Plant Bonds at maturity, and as Five of the bonds
to be purchased from Wright , Warlow and Company are Gas Plant bonds, these bonds shall be
cancelled immediately upon the receipt thereof, the remaining two bonds to be carried as
an investment of the Gas Plant Sinking Fund.
Upon motion duly adopted, the 1927 personal Tax of ~ ABBEY D HUTCHINSON was
472
CITY COMMISSION, SANFORD, FLORIDA,
MINUTES
November ~,5'~1928
Adjourned Session ~9
Upon motion duly adopted the 1927 personal tax of W E WELLS was ordered re-
duced from $13.25 to $6.50 on account of error in assessing.
Upon motion duly adopted, it was ordered that the past due water bill against
the American Legion Hut, amounting to $44.79 be cancelled and that in future the American
Legion be charged only with water used in excess of the minimum of $1.20
There being no further busio~ss the meeting adjourned to meet again Nov.
.8, 1928.
Attest:
Oity Olerk.
Mayor