03-01-1932 Regular Meeting
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Minutes regular meeting Clermont City Council h&ld
at the city hall March 1, 1932
Meeting called to order at 7;30 by President
Winston. Councilmen present Short, Perry, Kern, Frendh
Mayor Ware and Attornay Westbrook.
Minutes of previous meeting read and approved.
Mayor Ware reports $45.00 in fines collected.
Treasurer Settle then submitted the following
report ;
Fund 'Bal. 2/1/32
General $39.31
Water 280.73
Klemml Estate 414.09
Assessment 25.65
Checks
$81.41
563.04
Bal. 2/29/32
$216.91
469.36
433.26
25.61
Deposits
$199.01
751.67
19.17
Total balance on deposib Citizens Bank Clermont $1145.18
The report wa s accepted as read.
The following bills were approved and ordered paid.
From General Fun d ,
Geo. Westbrook $25.00...........
Carl Kin~red 150.00",
Florida Te1ephou.e Corporation):1,' 3.75 ~
Florida Public Service Co 1.50~
Citizens Bank IBox rent) 3.00~
Southern Office Equipment Co 7.57--
From Street Fund
Florida public Service Co ~166.00v
Dock Jones ' 1.75 ."...,
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From Fire Fund .
~~30,OOv'
John Achord
Fire calls; J.W. Hinson,R.R
Rogers,Albie Sheldon, and
L. Kindred @$4.00 each 2 calls
16.00/'
~ From Police
Florida elephone Corp.
Petty Cash W. Union
C.C. Lee
Dock Jones
FUnd '
$10. 00 :;;,
3 . 06 ..P'
100.00 .......
1.00.,...,....
From Wa tel' Fund
Petly Cash; Oil $2116 Xpress
Florida public Service Co
W.S. Darley & Co
$3.28 ~
98.70 -/"
2.00
H.L. Johnson, by a motion which was seconded and carried,
was g~ven permission to build a bmathouse at the foot
, of Seminole Street.
After some disc~ssion regarding the bond situation in
Clermont Mr. French intruduced the following resolution.
WHBBEAS; There are outstanding bonds of the City of Clemont,
with interest thereon, in excess of one million dollars,
many of which are in default, and little or no prospect of
the collection of taxes or special assessments with which to
retire such bonds, on account of the excessive rate of taxation
made necessary by the hmlders of such bonds; and
WHEfI.EAS, the City Council is willing to co-operate in any
rea sonable plan of settlement with the bondholders, and is
willing to put in effect any plan which will enable the citizens
of tke City to be protected from an excessive tax lev7, therefore
BE IT RESOINED by the City Council of the City of Clermont that
t~e City Clerk and the City Attorney are authorized to carr~ on
negotiations with the holders of bonds of the city, with a view
towards settling the matter in substantially the following malmer;
I\Iinutes regular meeting March 1, 1932
Sheet No. 2
All outstanding bonds and interest coupons to
be surrendered and exchanged for new bonds to be issued
as follows: Thirty per cent of such new bonds to be the
general obligations of the City, payable in thirty yeera
with interest at five per cent payable semi-annually
after the first year, and to be callable on any interest
date at 102 and accrued interest; seventy per cent of such
new bonds to be denominated Class B bonds, to be para.le
only from the proceeds of special assessments, delinquent
taxes prior to 1931, and the proceeds ot sale at any real
estate taken by foreclosure proceedings for the non- ~-
ment at such~.-~4_ assessments or taxes; such Class B
bonds to mature in 30 years, and bear interest at the!~te
of five per cent per annum, but such interest to be payable
only from the special tunds named above.
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Eaell holder of present out.tanding bo1tC1s 'to ex.~
hIs 'onds on the basis herein mentioned.
That upon the report of the City Clerk add City Attorney
that suoa a method of refinancing is agreed to by a ,ut-
fic1ent number of the holders of outstanding bonds to
warrant the belief that the plan can be put in effect,
the Council agrees that it will pass all necessary
resolutions and do all thinls necessary to P\\~ the.same
in effeot without delay, it being Wl4erstood that the
Ci 'by has no funds with which to pay the cost of such pro- "
oealings, but that if the plan is successfully put in
effect that the City will pay. the reasonable costs to be
incuned 'wben funds are available, no suoh costs to be
inourred exoept as autho~1'ed by the Council.
Upon rm11 call the vote was as follows;
Ayes; Short, Perry, French, Kern, Winston
Nayes; None
'l'here being no further bus1ness t~~~
President
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'IJ;J. er. ,
TRIAL BALANCE FEB'~ 1932.
GENEiiAL Flnil'D.
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Cash
Klennn Estate
1931 Taxes Receivable
1930" "
1929" "
1928" "
1928" "
1928" "
1927" "
1927 " "
1927'" "
1926 "& Prin "
Due from other funds
Notes Receivable
Expense
Streets and Sidewalks
City Properties
Appropriations
Fines and Forfeitures
Licenses.
Miscellaneous Receipts
Penalty Delinquent Taxes
Del. Taxes due Sirucing
Due KleMm Estate from 1930
Bond Interest Payable
Due Assessment Fund
Bonds Rayable
Deficit
Taxes
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R.E.
Personal
Certificate
l{. E.
Personal
Certificate
T' .' U -:
WATER FUND.
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Cash
Accounts Receivable
Expense
Stores, tools and truck
Permanent Properties '
Water Revenues
Due to users
Due to other funds
Miscellaneous Receipts
Meter Deposits
Notes Payable
Bonds Payable
Surplus invested in fixed assets
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Assessment Fund same as before.
Sinking Fund same as before.
Dr.
$ 21G.91
433.26
438,971.58
16,385.57
14,031.54
1,162.69
182.05
7,942.37
100.75
74.10
6,107.00
4,166.59
985.31
446.40
1,544.41
50,000.00
86,325.00
2,544.32
$ 631,619.85
~ 469.36
1,099.67
608.24
1,521.72
54,864.86
$ 58,563.85
Cr.
438,971.58
76.00
116.50
38.20
21.50
7,411.74
3,,958.31
4,419.00
29,307.01
147,300.00
$ 631,619.85
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3,303.79
455.81
985.31
12.42
580.00
3,500.00
36,000.00
13,726.52
$ 58,563.85
Trial Balance Jan. 31, 1932
General Fund. Dr. Cr.
Cash: General 39.31
Klemm Estate 414.09
~31 Taxes Receivable 438,971.58
1930 II II 16,475.05
1929 " II 14,031.54
1928 ,II II Real .l!;state 1,162.69
""~ 1928 " II Personal 182.05
'S:, ,.,.,.... 1928 " II Certificates 7,942.37
1927 II II Real Estate 100.75
1927 " fI Personal 74.10
1927 II II Certificates 6,107.00
1926 & Prior II II 4,166.59
Due from other fUnds 1,458.35
Notes Receivable 446.40
Expense 1,049.96
streets and Sidewalk 5Q,000.00
Other Permanent Properties 86,325.00
Appropriations 438,971.58
Fines and Forfeitures 31.00
Licenses 51.00
Miscellaneous Receipts 20.00
Pena1ty,De1inquent Taxes 21.51
Delinquent Taxes Due Sinking 7,411.74
Due Klemm Estate from 1930 Taxes 3,958.31
Bomd Interest Payable 4,419.00
Due Assessment Fund 29,307.01
Bonds Payable 14'1-,300.00
Deficit 2,544.32
$631,491.15 $631,491.15
Dr.
Cr.
Water ,It'und
Cash
Water Rents Receivable
Expense
Stores, tools and truck
Permanent Properties
Water Revenues
Due to Users
Due to Other Funds
Miscellaneous Heceipts
Meter Deposits
Notes Payable
Bonds Payable
Surplus invested in l,t'ixed Assets
280.73
1,041.16
518.24
1,521.72
54,864.86
2,501.53
455.81
1,458.05
4.50
580.00
3,500.00
36,000.00
13,726.52
$58,226.71
$ 58,226.71
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