080664-Special Session/576
MINUTES
City Commission, Sanford, Florida, August 6. at~ :!_1 A. FI. 19. 6/4
The City Commission of the City of Sanford, Florida, met in Special Session at
the City Hall in the City of Sanford, Florida, at ll:O0 O'clock A. M. on August 6, 196~.
Present:
Commissioner A. L. Wilson, Mayor
" Joe B. Baker
" J.H. Crapps
" Earl Higginbotham
" M.L. Raborn, Jr.
City Attorney Wm C. Hutchison, Jr.
ity Manager W. E. Knowles
ity Clerk H. N. T_~mm, Jr.
Absent: Police Chief R. G. Williams
The meeting was called to order by the Chairman.
The first order of business was to receive bids for the sale of $800,000.00
Water & Sewer Revenue Certificates, Series 196~, as proposed and described in the following
legal "Notice of Sale" published in the Bond Buyer on July 28 and August 5, 196&.
$800,000
CITY OF SANFORD
FLORIDA
Water and Sewer Revenue Certificates, Series 196~
on
SEALED PROPOSALS will be received by the City Commission until ll:O0 A. M., E. S. T.
AUGUST 6, 196~
at its office in the City Hall, Sanford, Florida, for the purchase of $800,00OiWater and
Sewer Revenue Certificates, Series 1964, dated May l, 196~, and maturing on November i of
each year, 1965 to 1989, both inclusive.
Said Certificates maturing in 1975 and thereafter shall be redeemable on or after
November l, 197#, at par and accrued interest, plus premiums as provided in the ordinance
authorizing the Certificates.
Bidders may specify any number of rates of interest, expressedin multiples of
one-eighth or one-twentieth of one per centum, with the same rate for any one maturity and
no named rate to exceed 5% per annum. Bidders may offer to pay not less than 98%~% of par.
Interest on the Certificates becoming due on each semi-annual interest payment date will be
evidenced by a single coupon.
Said Certificates are payable solely from the revenues of the combined Water and
Sewer System of the City and will rank equally and 'be on a parity as to the lien on such
revenues with certain outstanding obligations and will be. subordinate as To t~e lien on t~e
net revenues of the Water System of said combined Water and Sewer System with other out-
standing obligations, all heretofore issued by the City.
The legal ~pinion of Caldwell, Trimble & Mitchell, New York City, will be furnished
without charge.
Each bid must be accompanied by a certified or cashier's or treasurer's check
drawn upon an incorporated bank or trust company in the amount of $16,000.
Further and more detailed information and copies of the Official Statement and
bid form may be had upon application to the undersigned or to Leedy, Wheeler & Alleman, Inc.,
Orlando, Florida.
H. N. Tamm, Jr., City Clerk
PLus INT. %
BIDDER B,I,D INTER,EST. OISCOUN, T" COST COST
Leedy, Wheeler &
Alleman, Inc.
$788,000.00 $508,255.75
$12,000.00
$520,255.75
5.717~%
Reynolds & Co.
Goodbody & Co.
788,195.50
788,000.00
511,~86.25
515,916.25
11,806.50
12,000. O0
525,292.75
527',916.25
5.7591%
5.772177%
Merrill Lynch
Pierce, Fenner &
Smith, Inc.
788,000.00
521 ,~40. O0
12,000.00
555,J~0.00
5.8116%
On motion of Commissioner Higginbotham, seconded by Commissioner Baker and
carried, the Commission authorized the acceptance of the bid of Leedy, Wheeler& Alleman, Inc.
for the sum of $788 ,000 ;'OO p lus accrued interest, and further, authorized the City Attorney
MINUTES
City Commission, Sanford, Florida, August 6 at 11 A, N,
to prepare a Resolution setting forth same.
There being no further business, the meeting adjourned.
lm
MAYOR