06-20-1950 Regular Meeting
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MINUTES OF THE REGULAR ADJOURNED MEETING OF THE CITY COUNCIL
held at the City Hall, Tuesday June 20, 1950
Me9b~ngyealled to order ?:30 P M by Vioe President E G Winston.
Also present R ~ Castner, W H MoQuistion, C R Reid oounoilmen.
ayar protem A M JOhnson, Ma70r Williams visiting, Marshall
Anddrson, Atty Morse, Engineer Zelazo, Fire Chief Sheldon, Tax
Assessor F S Bliven and J B Fullwood.
Moved by Mr Reid, seoonded by Mr MoQuistiQn to authorize
purohase items requeste~ for Polioe Dept. motion oarried.
Moved by Mr Castner street oommittee be impowered to purohase
and plaoe neoessary signs for truok route. Seoonded by Mr
MoQuistion, motion oarried.
Mr Wiley from Howey, offered a program making organic fertilizer
out of City waste at $1.50 per tom for the starter. Counoil to
let Mr Wiley know, should it be deoided on.
Mayor report. Mr Johnson suggested oounoil oonsider heat for
City Hall and the jails.
Mayor reoommended having three men on polioe duty Sat nights.
Moved by Mr Reid that C W Brooks be hired at '25.00 per week
until the first of 1951, and unif.orm purohased not to eKoeed
J50.00. Seoonded by Mr MoQuistionmotion oarried.
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Moved by Mr Castner, en~~neer purohase two tires from E C
Pemberton for $96.34 . JMotion oarried.
Moved by Mr Castner laborers of the_City be given one week
vaoation with pay. Seoonded by Mr Reid, motion oarried.
Moved by Mr Reid attorney be 'authorized to draw a draft on the
Citizens Bank of Glermont to buy in the old $1000.00 Bond with
ooupons. Sedonded by Mr Castner, motion oarried.
Mr Morse asked oounoil if it would be possible to have an Audit
of the City ~eoords for the Bond Issue. . This was agreed on if
at no additional oost.
Moved by Mr Castner that $500.00 be given South Lake memorial
Hospital, seoonded. by Mr Reid motion oarried.
Moved by Mr Castner Oity purohase new looseleaf binders and
forms for Tax Roll not to exoeed $2?5.00, from SouDhern
Offioe Equipment, Lakeland. Seoonded by Mr MoQuistion, motion
oarried.
Moved by Mr Reid that DeSoto St be "Through Street" from
5th to 12th. Seoonded by Mr Eastner, motion oarried.
Moved by Mr Castner, seoonded by Mr MoQuistion meeting adjour~.
Vioe President or the City Oounoil
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,1tLot..urION Cf" nIt CITY (Jf CU.:rll~~1ff IN Ll\.KiCOJNTY I
t"LOH!D\ ,t\t1~ltofU2ItC nn' HJ:FUVIlU OF nm CITY'S
Ci\.;7'ST.lUCIJ<<.7i [1::1f.aD 11l1JfH'Jn:r'U['.i, AS Rt i,jm~SIiJJ1"m) bY
CUhHfJ(l RLPTJt4)!f<<,'; B':tb"; ~)I\n:() ~"'~ 1, l_..L..NICWE
-!Jl Y 1, 1969.L nv _ nm I!~.~.UAICt fA' ~)34Q.000..uu HE..J:UPI)...
'. NO TV";f'1)S M~O JAfIJAJW 1, 19&1.
'Hr:RfAS, the City of 01 flJr.fZ] tnt, a i.....wu.I"-'l c;ozpo.t.t1Oh in
Lak& County, Plocichl# hat an MauJ'td.&.ng ..,.811d bonded irldebt'~.
of ap,)zo:d.ma-tely 5342,000.00 .. h1p....ted by :refunding bonds
dated JUly 1, 1939, w.lth p%1~ d~ JUly 1, lt69~ ca11~le t.Jp<<l
30 deye noU... on aftV1nt..... pI~ 4ft" .t par and int..tit.
DOW beaX'lng lnt.e~nt at the rat. of . to ~ly 1, 19':'/1, and th8n
$~ to July 1, 19M. aM t"*t .. .. JUly 1, 1959, and thetl4I1:: to
J'u.ly 1.. 1964., and then . to :Ally 1,. 19691 end,
'. HEHt.:AS, cft~:~ ckM ~.... by the .1 ty oouncl1 ofth.
a ty of Cle~ 1 t h38 b~(!n dnG-_* that &a1O bonft w111 DhoJrtly
#4Tes
bee J.ntezo",,~ ~ --. zeta the CIty in its p..sont 1~-'~,rov_
condl 'tton 1. eAt1 t 1eet to, and,
~~liPN~, ..rte% unful t!!WtIr .net ".....!d.z:. tioA of a pzoopc-.ed
plan of zofffUAlUng th. ;1Z'MGnt va11ft boDded ind..,..... of the City
qf c.t..%ftWtt 3. pze""..a to thJ.e CounCl by _., E ,to C,. ...dlll foe and
in behalf 01 Dt, J. V'8nlnge ~av Inc. end Ph.t 5ecud""" 'C0m-
pany of ~n..., Inc., t t 1. deteand.n8d that the p.ledl!t out_tend1ng
bonded 1~edneeG of Mid ciW __ t:eNnded a. of .J....ay 1,
1951, . by the- 1",uanee of rotundtno bOnd,.,. u the palnc1pltl ....7Uftt
of 51DOO.,00 b...:r:lng a cont'bnt me fit !rrteft'at et . pu IU1IWIQ par-
able Mmi.........l1.,.' and, that by the sotundlftg of s.td boncla at u$d
c'mtbnt Inter..t zeta a c:on.1desablo owu*11 saving tIIlOUld be elf.....
IIh1Cb would be most !a".~ and ben!Oftetal to th. City of Clentont
end Its ta""'$ and;
~~Hl!; t.~, afte% due cona.tda,.tw 1 t 1, now dete-.1ned 'tUt 1 t
would ~ to tM bon 1nt~n,ts of the City of ca~nt and it. ta.-
payer. that the refunding plan as npna.Mdby tM _g&'eement Pft8enUd
to till. c.t.ty by t-..b4t .aU ~.If [. C~ ...... a eopy of .aid .gs~~n' bo1..
found 1r.r1ld1at.ly follGwtng thi. ""lutlon and ;.r,a,':e ft part heftCl.f ..
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fully and "t la:rge set forth he.ela. should be.f.t's'>>d1ate1y ~n'teJ:'''
into by the ..SA City t)f C1~ and th. B. 3. Von topn c:ortt)6ny
Inc. and;:1x$t Secwlt1ee '~ of Ka....f .tftC.; thc~.fOft.
nr. IT ilrDOLVEI> by theC1ty Couho11 of th. City of Clezml,nt
thnt the .g%'C'.....t .e PJ:~&~ to the CIty by 1AJ:. E. C. Hodgo foe
and In behalf of B. J. V~n IngeR ~ny, Inc. land Funt ~;ecwd:tl..
~.ny <;f Kenne, Inc., .. capy of tAhiah lti'1".lIdi~telyfoll.. t.ho..
!":11nut:e., be fozthwi tb end f..JY.tl. ~"'_ly .~ l->y thG, .Mayox of the
City ':Jf'C1.JmOnt 3M .~tMted to Ly thtt City C1.x~ and that the .yos,
Cl'ty Cluk. Clty AttoZIW/ 'ndthle City CbUnO!l do in acco~ w1th
$aid .tIn~ peaform each a.nd fINery act .th13t may bo found nMMSUY
in cader to cCJn1'llne and put Into effect tIM refundlng at outl.intMI
.to said agr-.nt.,
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PA~;f;JD by the CIty Couoc:l1 at its %....10 mefttng heW 1n
,
th. City Ha: 1 Oft th. 6th day of June" A.D., 19!Kt.
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(EXC1.AW;; ,3 - Cl'ntl!NtMl)
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\':$t'oAldm: ~~(:ndrt of the :_ 1..;'10 at t~.1r 0WIl protlt or 10", tU'.)d shall .t\t)t ~
~..d 'tl' haft .rtooted "'>1)'" .\JOh tnnaaetloal ... ~ -or tl"'.J1teM of' the City
~' ~ of thia Apr....". It 1. ~ that tM i~er. aro tl} 'u. th.
volu.1.... A.r;ent ot the City 1n .ttact1Dt~ f;D.y auoh _ohaagu.
li'UHLlC St1.U
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It ,18 the izataatlon ot tho. ;cankwl. prcrriding ... are bOt .~ 1....,.
or 1~i).(!I ;,., !DeY uarat does .t chant... _tart.lIT _ ...8O,JIlt of U1y UIlt....-d "'P""
~. to ~te thl. RAttw:MllDC 1Jl1ta aat1rny cluring the 111'. 0;[' tht.
a~, but on aooOWlt ot the ~ wor1. OODtlltloDII at th. tlCDmt, t.n.
.to11awi n:' !)l'ovl.101l. 1. ~ .. !:&rt of th1. A'......u1;..
::11 or bei'o,.. Jul)' 1. 1'&1. after due oonal4el'atlOD hd bMD .biv- to a.ny
-~';es to De __ or oomalttAc:l to lA..... oa11abll.lty of Uw IlOnU to be
r<otl.&Ddud. ooMit1oaa or t:lw t!lN'lcet. aDd Mf ot..bN' pertiMDt ~J'~. "tho
jj--- *'-:' tutn.. tn. City forty-tift (U) "ya prior to t.n. lnterellt pIl:..."t
or call dtf.'t 8 of: ~r 1, 1\l51,. .. Ju1.y 1. 1811. to ott.r at pubUe _Ie
&::-.y or all or tJae Rett.amlng &aie of the J~_ I.~ .. ar. 1IO't _"~Itpd or ...
a1"" to be ........ 'flw Cit). wUl bo1cl .uoh pu.b11o 1&1e CD the date .,..1.
ft_ by tho ~ &lid _11 ...... ~ ~. ~t 1;0 .. p.l\tU.. alAt t<<t the bid...
4v or~ 1;0 pay the hlgbHt pri.. tl*"et... ..40thent1.. 0C*p1J'1Dt: ,lith
&11 -':,hQ t..... and OOIMlitlODa ot' ale a. _y be 4nera1Md 111 t.hlt 'l.om1_ aDd
thct j\lClgmant of the City.
GIlA li4tr!' ,;J.l bID
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Upon adri.oe trc. tM 1-.nD1"8 to held the 1*'bU..o Ml.. 1a ..oOO~ wi 1m
tJ.. a~.. the ~r. apoM that at 't~ IN'bU.. lale' ., the Ret"und1llg r:Cmd. 0.1'
tl. IW Ia&J\llt, belel pUl".....t to the t... ot \hi. Att......cdl, tbq will nbdt &
bid and obllr,e.te thlUelw. to ~,..11 eueh 'boD4e A' _~f be orr.,. to'l'
.1e" at not 1... thNa '8;0.00 aDd &OOI'\WId bUnat per '1.000.,00 pr1Dalpa1
MDilnt of banda tor a toW of 1160,000.00 prlDolpal uount 1>1" euob boad.t or
tutr Iolleer ~unt tl'at My' be otr0n4 .tor P'lb11e _le. The lank.rl acr" to
b'.d not 1... tl'!.Ul tl"OOO.OO azv! acoru.4 tnteren per $l.000.(JO pr1_1pa1 aaount
o1~ bi:md. that c~,: to publio .1. 1:0.,. ~ ..aunt ot 'boDd. 1a. .... ot El50.000tlOO
priMlpa.l IUnOI../J'tt. '1'bI l'.aJ\kv.t t'~ 1>> bid. tor t."l. ...i4 ;i_ ;.tun'linr. fiends
:W;l tne exchan;':;G at 1-.;004. um.r tel. opt1oa pnrr1" Ia WI ~t sball bt
.o~I:iJoe.t to th. l~\alltled fl_1 11;. rovlnc op1a1on of ..leeted ationall)'l4mowu
1IW'11.1pal batxt ..tto~. that t',. ~_ HetuDdlng t<md. .... ftl1d. haft all OODtract
1"1r.bta a. to Beourl<ty. 'ta~l~ power. oblle;atiOlUJ for p&)WInt l!l.l':d all 1"el:!'IOd:L.. for
cU'or~ ... to :Lndo~.. N.t\u1ded t.rebyJ tllat upoo _UnI"Y of aid ;_
;~eJ:_lnc ..30nd_. the~.. .111 Qjoy the ... tu-__pt .t&~U8 t.ney wt'l".llll:lAve CJXl..
joye<l if' V.uy he.d bMn d.l1....red /4U OJ tl:e date tho~.
i'~~ ~,.~
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~'t) reUlb:';l"l'iG t;e .t,ojnl'.'OJ"' for the expenaee they rill incur herewalor and to
OOIftpen"'t0 tit. for their ....'rioe. he.NWlt.h I'UId in conalcl....tlO1l oJ: th4t:lr ,;\W""Al\t.M
'to \)16. ou I.':F-4ch;~ond. A' ~~o w pul:lU,e alil UDd... ooarll'tl0Da outlined a.bo'.. .thct Cl't,y
will .-:r to ~h4 liank.r. 'thre. poroent <.) oJ: the pr1Dolpa1 MQ~UIt of tlMl
,..t',m'/ ttt;'iOI'ld. 01.' thll."" Ia,". exa.hal\ged, MId t.hr.. pwoent (&,;:) ~)r the
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City of {;l\'trraa~. Florida
fa{~ 4.
(i'!!:~S - cont.inued)
-
principal _ou.nt of ~h. n"ltUDd1nf: Bonda or tbl ... I..~ t.bat -r Le sold
at pwbl1c HJ.e iWreWIder. n&&rdlo.. or wheth... t.he ~lI". GI' othera Lay
be tb.. purehuen t',anot. Ji..oh p&.~a an \0 be __ bJ the City (.1....
t'uDd. othor than the prooe." 01' the ale of ntwI41l1g oODlla of the ~_
11....) ~ t1M 'te t1M u ......... _y be 00IIP1eW. 1A bl00ka of Mt
1... ... '11..000, iJDNSately a.tMI' ~ ...,leU_ of arq .xobM,...... an4
~1at4J1y lIftv or .i.-altaMoualy If'ltol1 'the del1'"'7 of the Ratuadlnt; iindt
of .~ ~ r,. t.eue pur.\W'lt to tJw pub11. ale.
t'};('j. F.\I'!'it c-:~,CK
.
To n1.d.~ tbe fiood Falth or the ~1Iwa &at to ..~ 'hi ....bat..loa
ot .. b14 1n u~ with the t...... hwMt tor any htuDd1nc EoIIla fd the
Hew r.eue that 87 '- olt... tOt" u.1.. the ~ will depoalt w1t.~ ~ha
C1tj' ita C.nifte4 Choek 01' a bank CuMwte QMk :La _ --' ~_1 to .
ot the totsa1 __ of the ReluBd1llc fioacI. of ,be litw II.. .. .... on.....
tor Rle. Th1. ohDOk .tall be ~ W the hD1cItn- ~1ately after
the ale 1t the ~. an not the .uo....rut b14d.... .. ap!U. to t!w
i'urchue priM If 'they an tbe ~aahl bid__. 01'. 1a t.v ....., of the
failure of the 0aDk.... W aula1t .. bid u ..ta pnMri.... to be nklD14
~ the City u fUll aztd Uqu1dat.K __".. t.. INGh tallun.
iC;Jili,'t"U. L
l
"i'hia Acre_lilt aM.1.1 expire on tbe ~ ~ of.Juq. lNl. uat... __
te1IdeII tor & 10Deer ptlriod bJ Dl~ ~'_'b of tlte C1'Y aDd tbo lUkwa.
IH"lIT}r.-:;:lS?I'~;W.oJi'. ~ pt.rti.. .ha'n ~ec1 thi. J..gre I II '" ... of the
da '.~. ..bow aet forth.
B. J. VAl Ii:;(;J~ I.: CO. Iao.
Gt:1-
FIRSt Sts.CUllITIES C~;t6PANY OJ' J:.itw.sAS
INCORPORAtF.D ~
IT f~y ~
. r <<
.ti. . t,
1910. B. .J~ Va b~ ,~ eo. 1_.
T'
~l 01'
C l'....y ;.;
BY
Cl"l,m....; :>< T"'t"D '1~lth --..)
.' ,In 4 ;,.-~ .... '_"!.',J \" ~ *
7Y1 ~J~
..
;~. 'n. \,:. T " i 01&.
~Q ~ '={- -y--y, ~
~ Clt::r Att:oraq-
...r
e
e
'.
$335,000 GITY CF ClliRMCNT, FLORIDA
3 % Refunding Bonds
Dated July 1, 1950,
Due July let as belOW'
Interest Rate.
Bonds maturing 1952 through 1969 bear interest at the rate of 3% to :maturity.
Due Prin. Bonds Int. Rate Annual Debt Service
JulJ' 1 Amount Outstanding 3% Interest Reserve Average $24,344_
1950 335 3%
1951 335 If ($10,,050) $10,000
1952 $15,000 320 " 10,050)
1953 15,000 305 " 9,600
1954 15,000 290 " 9,150
1955 16,000 274 tf 8,700
1956 16,000 258 " 8,220
1957 17,000 241 If 7,740
1958 17,000 22k n 7,230
1959 18,,000 206 " ~,720
1960 18,000 188 " 6,180
1961 19,000 169 " 5.t640
1962 19 ,000 150 " 5,070
196.3 20 ,000 130 " 4,500
1964 20 ,000 110 If 3,900
1965 20 ,000 90 " 3,.300
1966 20 ,000 70 n 2,700
1967 **20,000 50 " 2,100
1968 **20,000 .30 " 1,.500
1969 *30,000 0 3% 900
$335,000 $103,200
*Calla ble 7/1/55 to 7 /1/6~ e 102
7/1/65 to 7/1/68 @ 101
HCa11.able 7/1/60 to 7/1/65 @ 102
7/1165 before maturity @ 101
~
'.l ",r
Bills to be 'appno'i.r>e-d a't June 6, 1950. meeting of City :€m
Council
J .A Fulwood
Joe Austin
G W Cadwell
J .A Adams
R B Stanley
R 1.1 :Morr.is
Hac k Henry Williams
John Dingle
C RS,hewey
J B Fulwood.
Joe Austin
G W Gad.we 11
'J .A. Ada.ms
R B stanley
Jonn Dingle
R M Morris
:Mack Henry Williams
S L Ze1azo
M H Barnes
Re tha Anderson
R F Ani e!t\ l!J) n
Lee L LeViner
John Cunningham
,Hunnicutt & Associates
J B F:ul1wood
Joe Aus.tin
.G W Ca.dwe 11
J A Adams
R B Stanley
John Dingle
R M Morrie
Mack Henry Williams
Pearl Cullen
,Transfer to General Fund
J B Fullwood.'
Joe Austin
G W Cadwell
J A Adams
R,B Stanley
John Dingle
R M Mar r i s
Mack Henry Williams
lake C League of Mun
Stephen l Z~lazo
:M H Barnee
R F Anderson
Lee L LeVin~t'
I F Morse
Retha .AmersoIl
John Cunningham
F S Blivs.q. ~".'
She],!1 on., t:ir~ cl;1,aef
W If' 1(6 Q;uJ>st' io n' .
iI B F:u..J:lwood
Joe A'us tin
GW CadwelR ., '01" ,
J A .Ad~m6,'
R B Stanley"
.fohn Dingle:'
R M Morris
l~ack Henry Wi11iaros
Bra.n1.1ey ,Elee" .
Cash:.. ~.fe tty i tlUlS
C1erwont. Fire ,'p.ept \'
Clerm'o'nt'Hdwe "
Eustis I'il.otor .co
Finley's Mun Su.p
Florida Power 'CQrll'
Florida Te 1 Corp
Judy's Serv Sta
Layne Xt1ant ic
narry :E I.6u
Vim P McDonald Corp
o K Ice Co
Santer Bldrs Sup
She 1d on 1I0:Dor Co
.Standard Ci1
Traffic Signs Engineers '.f:
. -'~
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8CJ75
6
7
8
9
8080
1
2
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4
5
6
7
8
9
8090
1
2
3
4
5
6
7
8
9
8100
1
2
3
,4
.5
6
7
8
9
8110
1
2.
3
4
5
6
7
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'8120
1
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8150
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42.00
39.70
32.55
38.25
32.55
33.75
33 .7 5
33.75r:.
60.00
42..00
39.70
32.55
38.25
:32.55
33.75
33.75
33 .7'5
l'18.pO
8"9.10
14.00
93 .7 5
52.50
48.00
2000.00
42.00
39.70
32.55
38.25
:32.55
3:3~.7'5
33 .75
33.75n
:3.49
3000.00
42.00
39.70
32..55
38.?5
32.5~
33.75
33.75
33.75
3.00
118.60
89 . 10
93.75
82.80
50.00
10.00
42 .00
2'5..QO
25;'00
25.00
42100
39.70
32.55
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2 25 tI) ~ s::
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237 23 0, H.rcl (]) C)
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432 54' <D rcl <D rcl b fI)
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