072351-Regular Session MINUT .S
City Commission, Sanford, Flofida,__~.}~?:?.. ~ ~ ~_..~..._P..~.!~.~ .................. 19.~!
267
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The City Commission of the City of Sanfor~, Florida, met in regular session at the City
Hall in the City of Banford, Florida, at 8:00 o'clock P.M., July 23, 1951.
Present: Commissioner F. A. Dyson, Mayor
' Andrew Carraway
" W.V. Bitting
" John D. Ivey
# W.H. Stamper
City Attorney A. Edwin Shinholser'
City Manager Clifford McKibbin, Jr.,
City Clerk H. N. Bayer
Chief of Police R. G. Williams
Meeting called to order by the Chairman.
Mr. C. H. Moss, 2631 Willow Avenue, next appeared and requested construction of the water
main in Oak Hill Subdivision that was authorized by the Commission several months ago, and on
advice of the City Manager that the pipe was on hand, the Commission directed that work be com-
menced immediately.
Mr. Ezra Turner, 911 Maple Avenue, next appeared with reference to drainage condition at
Maple Avenue and 10th Street caused by open ditch, and requested the City to correct the trouble,
and same was referred to the City Manager.
Mr. Turner next requested installation of street light at the aforesaid intersection, and
same was taken under advleSnent.
Mr. Mervyn Osier of Ozier-Weller Homes, Inc., next appeared and submitted letter of ap-
plication to ourchase Block 4 of Bel Air, at such time it is conveyed back to the City and
becomes available for purchase.
Thereupon Commissioner Carraway moved that the application be filed, and if and when the
City acqu].re title to the aforesaid property, that they be contacted and given an opportunity
to purchase it.
Beconded by Commissioner Btemper and carried.
Mr. Osier next requested that they be granted the privilege of purchasing only 28 lots
in Bel Air and Ban Lents Second Section at this time ir~tead of 50 as stipulated in their
option agreement. Also, that the option be extended until a soil test can be made of the lots
selected to determine whether or not septic tanks can be installed thereon.
Thereupon Commissioner Stamper moved that the purchase option to Ozier-Weller Homes, Inc.,
be extended for 30 days until a survey can be made as to whether or not septic tanks can be
used for sanitation facilities.
Seconded by Commissioner Carraway and carried.
Mrs. John Andes next appeared and requested that their property described as S. $00 ft
of Lot 5 A. V. French's Subdivision located on West side of French Avenue south of State
Farmers Market, be rezoned from Residential to Commercial-Industrial use.
Thereupon after careful consideration Commissioner Carraway moved that a Public Hearing
be held at 8:00 P.M., August 13, 1951, to conslde rezoning the aforesaid property from R-1
(One Single Family) District to C-2 (Commercial-Industrial) District.
Seconded by Commissioner Bitting and carried.
Masers L. H. ~hormley of L. H. Ghormley & Company, and Fisher Hawes of Fisher Hawes&
Company, Inc., next appeared with reference to their contract to purchase the $350,000.00
issue of Port Terminal & Parking Meter Revenue Bonds. Mr. Ghormley advised that due to the
delay in validation of the bonds because'of protest filed in Circuit Court and the further
delay because of appeal to Brats Supreme Count, that they had to cancel the order on sale of
the bonds twice, and that in the meantime'there has been a considerable decline in market price
MINUTES
City Commissiop, Sanford, Florida, July ~ a~ 8 P! M~ 19 51
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Mr. Hawes then submitted the following letter.
Hon. F. A. Dyson, Mayor
and the City Commission
City of Sanford,
Banford, Florida.
Knoxville, Tennessee
July 20, 1951
Re: Sanford, Florida, 3}% Port Terminel and Parking Meter Revenue Bonds.
Gentlemen:
We were very greatly disappointed to learn that the validation of
the above bonds has been appealed and that it will be sometime the latter
part of August before we can expect a Bupreme Court decision.
As a rule, bonds of Florida cities and counties are delivered within
a sixty-day period or thereabouts. We purchased these bonds nesrly a year
ago and have been to considerable expense. As you know, we brought prospect-
ive buyers to Sanford and succeeded in selling the entire issue, only to
have the order cancelled because of the long delay in delivering the bonds.
During this long delay several factors have caused the bonds to be less
desirable. The Bond Buyer's index shows that, from February 1 to date,
yields have increased 63 basis points. This means a drop in price of
approximately $50.00 on a ten year bond and $100.00 on a twenty-five
year bond. Bond buyers, as a rule, show a strong preference for voted
bonds, the theory being perhaps that the project for which the bonds are
to be issued is a popular one. Conversively, these bonds are less attract-
ive since the protest against their validation and now the appeal to the
Supreme Court has become generally known. The fact that Judge Smith, of
the Circuit Court of Seminole County, requlree the Bond Attorneys Valid-
ation Order Form be revised to eliminate three findingS:~ that had to do
with the sufficiency of funds to meet the annual requirements and limit-
ed the Order to the Authority of the City to issue the bonds has severely
dsmaged their salability.
Investment houses must hold themselves in readiness to meet their
commitments at any time. It is not only prudent, but necessary to hsve a
ceiling on inventory. Consequently, our inventory, which is our stock in trade,
has been reduced by the amount of this issue of bonds.
We realize that none of this is the fault of the City and feel very
strongly that the parties appealing Judge Bmith'e decision should be re-
quired to post adequate bond to reimburse the City for the loss it must
almost inevitably suffer.
In view of the above and of the continuing delay and the uncertainty
of delivery, we feel that, if and when, the validation of t~e bonds is
finally approved by The Supreme Court and before being required to take
delivery, we should be given the opportunity to make a firm offering on
these bonds.
Yours very truly,
FISHER ~HAWES & CO., INC.
FH/mc B/ Fisher Hawes
Thereupon after considerable discussion, and in view of validation of the bonds pending
in Stets Bupreme Court, no action was taken by t~ Commission.
Mr. R. T. Cowan next appeared and advised of proposal to develop a housing project on
property owned by'the T~a~aeea of IntePnal Improvement Fund of the State which can be purchased
thru the County, stating that if he purchased the props rty as an individual that it would have
to be advertised and sold at public auction, but that 1 he City could purchase it as governmental
agency at an agreed price without being auctioned. He then requested the City to purchase the
property from the County and resell it to him at the price he proposed to offer the Board of
County Commissioners.
Action deferred, pending County's acceptance of Mr. Cowan's offer.
On motion of Commissioner Stemper, seconded by Commissioner Carraway and carried,
the Oom-
mission next confirmed the Mayor's appointment of C. L. Redding as a member of the Banford
Housing Authority Commission to fill the vacancy created by resignation of W. V. Bitting who
has been appointed to the office of City Commissioner.
In view of Fernald Laughton Memorial Hospital Association's difficulty in financing until
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w~.~ July 23 at 8 P.M. 51
City Commission, Saniord, ....... , .......................................................................... 19
repairing and remodelling the old hospital building, 0ommis~ioner Stemper next moved that the
City pay the Hospital A~sociation the. funds now instead of waiting until after October 1.
Seconded by Commissioner Bitting and carried.
The City Manager next reported that Florida State Board of Health con~inues objection
and have not approved the Sanford Housing Authority~e plans to connect the three housing projects
sanitary sewers to the City's sewerage system because of emptying raw sewage into Lake Monroe.
Request next received from Lawrence J Plvec for reinstatement of the loading zoning in
front of hie place of business at 321 E First St.~ which was recently eliminated while occupied
by Bert's Swap Shop, a similar type of business.
No action taken.
Consideration next given to request of Lt. C. M. Whitten and Fireman G. H. Harriett of the
Fire Department, for a six months leave of absence, with option to take an additional six months
if required, to enter the services of Fire Department at Sanford Naval Air Station.
Thereupon Commissioner Carraway moved that Lt. Whitten and Fireman Harriett be granted a
six months leave of absence from the Fire Department, and at end of six months that their re-
quest for extension be reviewed.
Seconded by Commissioner Bitting and carried.
Consideration next. given to petition from fifteen residents~ln vicinity of Williams Avenue
and 14th Street that a street light be installed at said intersection, and on motion of Com-
missioner Stemper, seconded by Commissioner Ivey, same was authorized.
Action was next withheld on request for installal~on of street light at intersection of
25th Street and Poinsetta Avenue.
Communication next read from Garland W. Spencer, Attorney, submitZing an offer for a
client of $2,500.00 to purchase lots 39 and 40 Lake View Park, on which he desires to erect an
office building. Stating tha~ if the Olty accepted the offer an office building commensurate
with the growing needs of the community would be erected on the lots within one year, and that
the City could embody such restrictions in the deed.
Thereupon after careful consideration and in view of the price offered and the property
now being used as a public parking lot, ~ommis~oner Ivey moved that the offer be rejected.
Seconded by Commissl oner Carraway and carried.
There being no further business the meeting then adjourned until 8:00 o'clock P. M.,
July 30, 1951.
ATTEST:
Mayor -