051166 MINUTE'S
City Commission, Sanford,. Florida, Hay. 11 a~ 2 P. M.
19. 66
225
The City Commission o£ the City o£ Sanford, Florida, met in adjourned regular
sessmon at the City Hall in the City of Sanford, Florida, at 2:00 o'clock P. H., Wednesday,
Hay 11, 1966.
Present:
Commissioner A. L. Wilson, Hayor
" Earl Higginbotham
" M.L. Raborn, Jr.
" W. Vincent Roberts
City Attorney Wm. C. Hutchison, Jr.
City Manager W. E. Knowles
City Clerk H. L. Whelchel
Absent:
Commissioner J. B. Baker
Police Chief A. S. Williams
The meeting was called to order by the Chairman.
The first order of business was to receive bids for the sale of a $1,000,000.00
issue of Public Improvement Revenue Bonds of 1965, as proposed and described in the following
legal "Notice of Sale" published in the Daily Bond Buyer on Wednesday, April 20, 1966.
$1,000,000
CITY OF SANFORD
FLORIDA
PUBLIC IMPROVEMENT REVENUE BONDS
SEATED BIDS will be received by the City Commission in its
Chambers in the City Hall, City of Sanford, Florida, to and
including 2:00 P.M., E.S.T.,
MAY 11, 1966,
for the purchase of $1,000,000 Public Improvement Revenue Bonds
of said City, dated September l, 1965, with semi-annual interest
payable March i and September 1. Such Bonds will be coupon Bonds,
registrable as to principal only or as to both principal and
interest, and will mature serially in numerical order on September 1
in the years 1967 through 1995, inclusive.
Such Bonds will be payable solely from and secured by a prior
pledge of and a lien upon the proceeds of the utilities service
taxes and franchise tax in the manner provided in the Ordinance.
Thes~oessful bidder will be furnished the unqualified
approving opinion of Messrs. Bryant, Freeman, Richardson & Watson,
Jacksonville, Florida.
Copies of the official statement, bid form, and other perti-
nent' information may be obtained from the undersigned City Clerk
or from Leedy, Wheeler & Alleman, Inc., One North Orange Avenue,
Orlando, Florida. The right ~o reject any and all bids is reserved.
CITY OF SANFORD, FLORIDA,
/s/ HOWARD L. WHELCHEL, CITY CT,MRK
Bids were open6d and tabulated as follows under the supervision of the City of
Sanford's fiscal agent, Loomis L. Leedy of Leedy, Wheeler and Alleman, Inc.
BID GROSS PLUS NET INT. %INT.
BIDDER (to pay) INTEREST DISCOUNT COST COST
John Nuveen & Co.
$990,217.00 $746,991.25 $ 9,783.00 $756,774.25 4.2348%
Kidder, Peabody
& Co. & Assoc.
990,310.00
751,263.75
9,690.00 '760,953.75 4.2582%
B. J. Van Engen
& Co., Inc.
Reynolds & C.
990,000.00
990,000.00
752,348.75
744,341.25
10,000.00
10,000.00
762,348.75
754,341.25
~.266%
4.22127%
Leedy, Wheeler &
Alleman, Inc. 990,781.00 755,700.00 9,219.00 764, 919. O0 4. 2805%
On motion of Commissioner Higginbotham, seconded by Commissioner Roberts and
icarried, the Commission authorized the acceptance of the low bid of Reynolds and Company and
Associates, for the su~n of $990,000.00, plus accrued interest and further, authorized the
226
MINUTES
City Commission, Sanford, Florida
May 11 a.t~2 P. M.
19 66
T~nthoraw Offio~ .qnnply C~.. Orlando. lq'la. ' '
City Attorney to prepare a resolution setting forth same.
Upon request of Reynolds & Co., successful bidder of the Bond Issue, Commissioner
Roberts moved that the Florida State Bank of Sanford be designated as paying agent for this
series of municipal improvement bonds. Seconded by Commissioner Higginbotham and carried.
On motion of Commissioner Hi~ginbotham, seconded by Commissioner Roberts and
carried, authorization was next given to the City's fiscal agent to return to the unsuc-
cessful bidders their respective certified deposit checks.
After discussion, it was moved by Commissioner Higginbotham, seconded by Commis-
sioner Raborn and carried that authority is hereby given to the City Manager to make field
decisions on the Lake£ront Marina Project, since the contractor sometimes has to have an
answer in very short time; but, anything of exceptional nature to come before the City
Commission for final decision.
On a report by the City Manager regarding a representative of the Game and ~resh
Water Fish Commission appearing in his o£fice and notifying the City that the Fish and Game
Commission was meeting in Ft. Lauderdale to stop the dredging on the lakefront project, due
to the muddying of the water.and that they had found silt all the way to Blue Springs and
indications of dead fish. The City Manager reported a personal inspectiom showed light
penetration of eight inches or more and no dead fish observed in Lake Monroe on the inspec-
tion trip.
The City Commission instructed the City Attorney and City Manager to handle this
situation, but that the dredging operation was not to stop.
Next under discussion was the request of President C. F. Brooke Smith, Sanford
Swim Association, for free use of the City's Ft. Mellon Municipal Pool for their AAU swim
practice and meets.
After consideration, Commissioner Higginbotham moved that use of the pool be
allowed under the following conditions: (1) free use during the times it is not in use by
the City; public use or scheduled recreation use (2) pool to be closed to ~he public on
specific days of the meets (3) to furnish a Red Cross certified lifeguard during their own
'use of pool (4) Association is responsible for their own equipment and clean-up a£ter each
use, and (5) during the actual meets the Association will be responsible for any costs of
City persormel for clean-up of area and pool. Seconded by Commissioner Roberts and carried.
There being no further business, the meeting adjourned.
ATTEST:
lm
MAYOR