HomeMy WebLinkAbout06-25-1929 Regular Meeting
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I:.~inu:bLs regular adj~urn~;d mOJting Clermont City Council
h)ld at tho City Hall, ~Ule 14, 1929
IV:o;ting cal10d to crdGr at Eight O'Clock PoM. by prosidont
Mavos. Councilmon prosont MilIa, Simms, Tabor and ~ronnh.
Aft8r aomo discussion rogarding tho oxtonsmon of tho ,six inch
wator line into tho lleights Soctien and tho !iomo. of Mr. Chas 0
R. Short, it vias movod, socondod and oarl'iod that Mr. Simms
be given a voto of confidonoo, and askod to call on Mr. Shcrt
at his homo in Dayton with roforonce to financing this
oxtension.
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It was movod, socondod and carriod that the following
adjustments, ao tho rosult of typographical orrors, in tho
1928 tax roll bo mado. .
Lot 60 Clormont Hoights vacant lot assessod at $8000000
shculd havo boen assossod at $800.00
Let 52 Cler~ont Heights vacant lot assossed at $8000.00
should havo b0c~ assosood at ~800000 .
Lots 8,10,12 & 14 Bleck 82, assossed as unkno\vn in tho
amount of $2000.00 Tho samo lots aro includ~d in an itom
bolow Lots 7 to 16 Inelusivo assQssed to W.O. Porcival.
Tho colloctor was instructod to ohango tho two formor
itoms and tkko tho formor itom from tho rollo
The motion that an appr~priation of $600.00 be mado to
apply on tho salary of a rocruational diroctor failod to
carry.
Thoro bQing no ~urthor businoss tho Inl)oting adj c.urnod
to moot at tho call ef tho presidont.
-A, A 11t(~
Presidont City Council
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f Clork.
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Minutos regular adjournod ~0oting Clormont City C~unoil
hold at tho City Hall Juno 25, 1929
Mooting oallod to ordor at Eight O'Clook P.M. by Prosidont
Mavos. Counoilmon prosont Mills, Tabor and Fronch; Mayor
Davonport and Attornoy Wostbrook.
Mr.. Taber movod that tho oity borrow from Mr. C.O. Roo
tho sum of $1,000.00 to bo usod for tho purohaso of tho
oomotary, and that tho Mayor and City Clork bo authorizod
to oxoouto a propissory noto in said amount, payablo in
throe months at oight por cant intorost.
Aftor discussion tho motion was put and oarriod
unanimoua lYe
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Minutos Juno 25, 1929
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The follo~ine comnunication Has received and ordered
sp:eead in the minutes of this r.leet~ng:
C::'::RTIPICAY2': OF CITY CL;~'1K 11!:D CITY T:inASlJR:2:R.
June 25, 1929
To the City Council,
City of Clermont, Florid~:
~.:e hereby certify that the Ci t~r of Clermont is now in
default on the followinG bonds of the said City, to-uit:
Dt-..te of issu..e Num'ocr of bonds Denomination Amount of
Principal.
Jan. 1, 1925 10 :)1,000.00 $10,000000
J a.i1 . 1,9 1~26 34 1,9000000 :54,9000000
Apr. 1, 1025 22 1,000.00 22,9000000
June 1,9 1926 8 1,9000000 8,9000.00
Total nO\7 in default ;ji74,9000.00
A~d ITe further certify that the fo1l00ins bonds of the
City of 6lermont, to-~it:
T~~'ea bonds of ~1,000.00 each, dated July 1, 1~24,
and maturing July 1,9 1029; also
Four bonds of ~..il,OOOoOO each,9 dated October 1,9 1924,
and maturing Octob:~ 1, 1929;
uill mature prior to January 1,9 lr30,9 and before sufficient 001-
lections can be made to prevent a default in their payment.
~"e further certify that all of the a:~ove describedt
bOJ.lds ar::: bonds \7hich '~/ere issued in anticipation of the col-
lection of special assesslJlents ae;ainst. property \'11 thin the
C:l ty of Clcrmont,9 uhich assessr.lenta Here levied aBainst such
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pJ:'opel"'t:)r for th:') purpose of fincncinG tho C03t of improvelilen'cs
s~ecial1y bcnefittins such ~roperty; and that collections of
such special assessrr~en ts have not b0elll made, and cannot be
Elade at this tili:e in sufficient amounts to pay th e bonds u!J ihh
aro in default and w}dch are soon to b:..col:1e chtoo
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And we ;('u.rther ccrtj.fy that the iSSUBJ1cO of
Refundi:'l6 iiouC:s of the City of Clermont in the sum of
~8l,000800 is ~ecessary in order to pay up default of
the City on..:74,000000 of bonds now in defunlt, and to
prevent default of the Ci~J on the ~7,000oOO bmlds which
a:i:'O shortly to becoIlle d1lC 0
rtcspectfully,
Carl Kindred,
Cit:r Clerk
:;'0 BoHoe,
City 'llreasl1,rero
Ill'" 0 Taber introduced the follo\"line RGs~.'11.1.tion:
R3~~OL1;TIC:\! AUTROIU3IEG ~1I~ ISSUM~C:H: i~J'iD SALE
i~'TD/0Il ~~XC!I~:Gl. C':F ::.;81,000000 REFUUDlliG BOl>!DS OF THE CITY
OF CL~;lUlOFT, FLO::UD~.l 0
~mEREhS, the City Clerk and the City Treasurer of
t~~ City of Clermont have reported to the City Council of
the seiiel C1 ty that bonds of the City of Clermont, \lhich have
bee~"1. heretofo:ce ; ssned for the !,)urpose of f:i.n::mcine the cost
of local inlprov9ments in th:; said City, all of '.Jhich cost
has hear. heretofore asseosec1 aeainst tr..c property in saj.d
City frontine; and a~)t'.ttine upon said iillprover,lent s, are 110~J'ir..
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c!.eftiu.lt to the .:ll!lOttnt of $74;000000, and thut bonds sliol'tl-.
to l,~:) t'.'.re snd f'o:i.' the pa.:Y.ILient of \:hich no f1:;rds are on hand
amo, nt to .,;,7,OCOoOO, ma2:inC a tota.l of i)Ol,OOOoOO in boncls
of tl"J.c City of Clermont ',l).,ich arc nm7, or sI'ortly 'Jill bG,
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:1 n 0.01'(:111.1 t, cr!.o. 'G1:a t collections of the special assessreeTlts
l-.:.el~etofor0 levizei c..:nnot be r.:acLc' at thi s tine in suff'i cient
OllOUdt to l'eLir'6 su5.d 'bOl.ios; 8:i'ld
.;H~J.EAS, the LeGislatu.re of tho stt~ te of' Flo:rida,
o:1.:.:'h).~ its rr:C::L1.1litI' SE;:Jsj.or1. of t~'lS :~-o::.r 102rJ, Culy passed an
..:ict e.'ltttJ.ccl:
"An Act (.0 l?.11.thorize th0 City of CleI'I:'1or..t, Florida,
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to issue bonds for the purpose of refll.ndinG, rct~_r:t~'G or
paJ;-in,3 tc.e int er'::st and/or principal 0 f all~t or ell bonds
iss:1.ed 0:: said City for the cos t and 0xpense for local im-
prOV~llj,6:nts, .:r~le,:c the sa;;~e hav:~ been dOlle VJ;' oIly or partially
by direct aSsaSS:;T.t,mt ae;&i:i1st lots u1d la":1us o.c1.~acent to, or
fronting or abu.ttine; on such improve!lI.ents, en d bonds issued
agains t sl1.ch aSS;Jss:',cnts for the purpose of f';1~ancinl3 su.ch
:i.l'lproVe!rlellts, apd providtng for the assessr:l.3nt and collection
of t~;toS f.r tho payment of prir~cipal and. in~ rOlJt on such
bon:).s, unci. for crcatin~ a s,::cial fund for the ansiznment
t}1ereto of' asseSSlll6nts upon i!;,'ich dcfau,lt bas br~on made in
payment, urd for the use and disburseMent 0:::' ft;.nds arising
from such assess:;ler.t so"
HIu_ C;l sui.: Act ':las, on the 27th da.-~" of I'.iay, 1929, approved
by t~1C G01T':'~nor .of the t>t:;,te of Floridc., an.u ".:las thereupon
:filed iLl the offtce 0 f the becretLlr-:r of ::>t.~ te of the Sta to
of Flor~.d&, a:,o. said Act :i.s nml in fnll force a.nd effect as
[l lU\"l of tr.e ~:t:lte of Florid.'.; a!ld
.n:E~CA~:i, ~. t j.s no-: deE:})"1~d advis[4111e i::~r the City
Council of tl.~ c City of Clermont, that an issue of \}81,OOOo( 0
j):! bor-ds of tl-.c sa:i.d City bo au.thorized, tl1,: refore
D2 IT :12~~ OLV'; D BY 'll;r:~ CITY COl' He n, OF T!~_:; CITY O? Cl.:':l~:.~O"r: 'l
Tha.t t:tero shall ~Je iaslled Gi~htY-OllC l)ondo of tJle
Ci t..l of Clermont, each of tile clenomi1:ation of O"ne Thc'.1.sa.'1d
Dollars, to be >.:0':.'11 9.I"!.d desi(;l'l&ted as "Rai'l.:.'16in[: T.3onds,
801'ies A, II anc.. s11.ch bonds shall be numbered cor:secu.tivelv
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jJrom one to eiGhty-one, 'ooth num",ers tnclllsivc, and eaCl; of
sueh bonds shall or::.> datec~. July 1, 1:'29, and eac> of such
~)onds sliall I..;,at1....re on July 1, 1::>59; 2nd. eac}" of such bonds
s};ull "hear inter:::st from daLe at tre rate of six per centU!:1
"J1' annu..n, ~/hich inter6s t s~."lall be ~G.yc.~)le semi-ar::nu,ally, Xl
J[.u.1uar~~T 1st Blld July l.st of euc}: -::rear, an(~_ shall be evide11.c ed
b~:T inte.r.'0st cO'lpons attached to said "bon.ds; t~at such bor..c_s
shall "'uc pa~Tahle in gold coin of tJ'e United t)tL.tes of .i~r,~cr'i ca
of the prcse~t standard of ITeicht and f~leness, ~nd the int0rest
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on such bonds 8: all be p:lyable in lE.xlfll1 money of th e United
states f ll.Ii1crica, e.I'.d both prine ipal a!1d in -:e:{',~st s}'.all be
pa~Ta'ble at tho Irving Trust Company, in the City of l~c\1 York,
8tate of l~ew Yorlc; D.nd eac):: of SllCh bonds sr.all be siGned
b~T the jIc::/or of the City of Clermont and by t}1e City Cleric
of' the C1 ty of Clermont, Ui1d leave the corpora to seal of
tl~.c saiCi. Ci t'jl' affixed thereto; t:hat the s em'i.-an:::lUal interest
CO~lpors sJ.,.all bear the lithoC;"G.phed or enc;ravcd fa.csimile
slBnature of -cr.e said City Ulerlq and such hond::! s}'all be in
slJ.bst:..;nti.ally the follo.:in~ form, to-~7it:
(P'...,rm of -~)ond)
Hoo
Ui~T T:!:D ~:';..r.:.:s CF 11.L::";:UCA
S'IA'l:':'~ 01" FLOHIDb.
COUl-r~: 0:::-' ~AI~E
CITY C-"7 CL:":;RI,IOUT
H:"::F'J1\DllTG- ~lOl;D, ~EHI~S A.
l;jil, 000000
1\LO'.'; ALL L::E n"r T~rI~SE Hl ESEI:TS: That the City of
Clerrnont, in t}e CO~.1.nt~/ of La.l:e and Stute of .i.'lorida, for
value received acl<po\71ede;cs itself indebted e.,'"\d prlbmis es
to pay to the bearer the sum of
O1':.i THOl:S~~FD DO l..LAI1S
in Bold coin of tlle Uni tea titu tes of America, of the present.
standard of HeiGht and fineness, on the first day of July, AoDo
1959, ~ith interest thereon at the rate of s~x per centum per
annum, payable semi-annuall~T on the first da'. of Jenuar;,r 3nd
July of each Jsar, on presentation and surrender ~ the in-
terest coupons l:ereto annexed, as they sevl3J'ally become due;
principal and inter st beinG pa;Table at the IrvinG Trust
Company, 1: ew "~orh, E erl York 0
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T::IS lJ,O!ID is on.e of a s€-rics of Eir:'ht"':T-one bonds of
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ll~(c da.te, tenor and effect, kno....m as City of Clermont, Re-
f nding 30nds, Series A, iSO'1cd. by the City 0::' Clermont,
Florida, for the :purpose of rcflmding certain bonds of the
sulci Cit~. uhich have bue:, heretofore issued for the purpose
of fiTlw"'lCil:e; the cost of local improvements c'~nst.r .ctcd uithin
said Cityo and is issued in strict conformity ~ith the 1a~s
of the State of Floridag including among others an Act
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assed b~" the Legislature of th':.' State of Flor:~da at its
session 11s1d iT.. the year 1929, and ~lhich said Act was
a;J,roved b",)T the Governor of the said St:.l te OI'. the 27th
day of ~uy, 1920, and descrio d as Senate Bill NOo456;
and pursuant to a resovltion duly adopted by the City
Council of the City of Clermont, FloriQao
IT I:) :.~T~iLBY C3Ir:CI?I:zn, d~~Clt!~JJ iuiD D~CL.iffi:SD that
all acto, conditions U',1(:I tj-dn::;s req1.l.:i.r .'c:i. by la.! to exist,
happen end be pe :"formed precedent to a.nd in tb.c issuance of
this 1_~o:'d, have e;ds ted., have ~:1appened, Ul"rl have been per-
formed in rer:;ular and dne time, form and mar.:ner, as re-
qu:i.red by la\1; and t:'at tbe UIilount of this bond., toc;ether
'~iith all other iJ'lde-utedness of the City of UlcrJ:lont, does
l"lot exceed any limit prescrib2.d by the Const;,tution or
statutes of the state of ~lorida; and th~1 before the
j.ssuance of t~,is bond provision has beer made by resolu.tion
of the City Council to assess annually a tax upon all
ta~able property in the City of Clermont, Floridug to ro~lize
c. sum sufficient to pay tl-,e interest upon tl-,is bond as it ms.y
become due, and to provide a s :li1~;:ine fU.nd fer the payment B.
the principal hereof at l"ii.uturi ty; tipd for the pa;rrncn t of th
principal and interl,st of tbis bond the full fai th, credit
w.'ld resout'ces of tJ' eCity of Clormont, i?loT'ida, are here"o~,r
i .1revocably pledt:;cdo
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IH ''':ITlT~SS:.'F.E!tEOF, the City of Clermont lias caused
this bond to be signed hy its lIayor and b:;r its City Clerk mmd
its corporate seal to be hereto affixed, and ]"'as f !rther
cWlsed t~e int0rest coupons hereto attached to bear the fac
... simile s~_gnature of the said City Clerk, and this bond
~ to 'oe daced the fil"'s t day of July, b.oDo, 19290
CITY OF CLEI1Lm~ j,', FLORIDA
City Clerk
Eayor
(Form of interest coupon)
C01J.pon No 0
.000.00
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On the 1st day of
, 19_, the City of
Clermont, ,llilorida, ',/"ill pay to the bearer the sum of Thirty
:;)ollars (~;;:)OoOO) ir.. larlful monc';,T of the Uni:.ed States of
America, at ths Irving Trust Compan~r, in Us,,, Yor~{, ~!e\"l
York; bsine t~c semi-annual interest due that date on
its City of Clermont Hefu .din3 Bond, ~eries A, dated
~lly 1, 1829, ~,d numbered
Ci ty 1flerk.
(Form of validation certificate)
Validated ~d confirmed by decree of the Circuit Court of
LuJ:e Coun t~r, Flo::....idn, rendered on the
day of
A. D., 19290
Clerk Circuit Court,
Luke County, l<'loridao
BE IT :"''UB.'TI:ER RE~OLVED that the Mayor and City Clerk
of the City 0 f Clermont be and tbey a re hereby authorized
to hav3 all necessar:~,r steps ta~'en in the i)rcparation, issuance
aJ.:d sale, or cxchan~e, of such bonds; that such oonds shall
be advsrtised for sule once each weck iD. three conseclltives
weskly issnes of the Clermont Press, a newspaper of general
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circulation. published in Clermont, Florida, .R-nd the first rB
such publications s!'~all be ~. ade no t less th2!l eighteen da~Ts
prior to t]~ date fixed for selling saiu bonds; that all,
or any part of the is sue hereby ait thor ized may 1)S sold; t., at
if no satisfactory bid be receiv(~d on the date set in the
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notice ~f sale for receivuIG bids, the City COlUlcil may
~ithin ninety days thereafter sell all or any part of this
issne of bonus at private sale; prOVided, however, that in
no case s1;.all any of saj.d bonds c' sold for I. ss than ninety-
five per cent of par a~d accrued interesto
l~nd in the event that n~~ satisfactor~r bid be received
for said bonus on the dute fixed in the notice of sale, the
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II~or and City Clerk are hereoy ~lthorized to exchange any
or all of the I.lo1'1d8 hereby authorized for any bonds of the
City of Clermont uhich are now in default, (lr \L'.ich may
r.iat1.1re !)rior to J&.nUl;.l'Y 1, 1930; provj.ded, hrmever, that
no excrw.nc;e she.ll be made except upon a bas'i.s of t11e City
receiving par a.i1d accrued interest for the Hefunding Bomis
so exchanc;~~d, and not allo\7in8 in any amount in excess of
par and accrued interest for the bonds to b'} receiv::d by
the Ci tJT in such exchange 0
BE IT FU3.TliCa RES OLV ':j) that. the proceeds of any
bonds sold shall be used foI' the purpose of retiring ancl
p&.yinG the bO:.lcls of the Cit7,r rThich are now j.n Q.r:lfault, or
which are to I:laturc prior of Junuary 1, 1930, and for n.o
other lr.rpose; and the 'l.reasurer is hereby directed to keep
such funds in a sept..rate account, ar:d apply sc.u::e to\!ards tho
retirement of tne bonds mentioned as they are ~esentedo
ni1. IT FU::n'I-:::SH Rl~bOLV .;.;D tha t an~T and. all delinquent
inst~llDcnts of assessrrcnts aGuinst property for local in-
pr ovemCL ts, oil ere "('onds have br:en issued in anticipation of
the-; collection of suc1: assessments, shall hcpeafte be pliid
as they are collected, into a special fund, 0 be us~d for
the pu.rpose of payinG; the interest on the RefuEdinb 13:mcls
herein aut orized, or hereafter to be authoI'ized and issu~,
and for the l:urpose of providing for a sinkin.g fund to re-
tire anL. pay tJ16J.lefunuiniS bonds at the maturity of same;
and that th ere s)1all be 11 separate account kept by t~'le City
Clerk, >;!hich shall show at all times the amount of the
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collections from such delinquent assessments, ar~d such
f nd shall be b:.o';m as the fiRefunding Bond ~)inking and
In tel"cs t Fund. II
.And. the City 'l'ax As:.:es;..or is :1Arehy au,thorized and
directed to assess unnually, ':411 Ie any HefurHlin[,; Bonds are
1m. ts tun(J.j.n[~ ~ a tax up. on all taxable property ~1~_ thin the City
of Clermont, Sll r;:, i c i en t to realize a sum sufficient to PIlY
the interest on all TIefundine Bonds ~ltstandinG' and
to provide for a sinking f11nd to reti.re said bonds at t:':1eir
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~aturity; but befo!.'6 makin:; such aSSeSSLi.:mt, tlle City Tax
A~sessor shall call upon tte City Clerk for information as
to the f'Il4l1S ':{'ich are avc.ilable from the collection of
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delin::.uer..t assessn:ents, and tl~e amount of the tax levy
shall bJ decreased by such amount as is, at tne time
of making such levy, then in the hands of tne City
T .eusur:~r from the collection of such assessments, and in
the event that there shall l.y~ sufficient cas:' in the handsof
the City 'l'reas1"rer, from the col ~ction of delinquent ass(.ss-
Lwnts aa;fill m(}et the int:rest ani sinkinr; fund requirelnents
for tho el1s11i11.;~ 7eflr, no tax levy shall :)8 l:iadc; i t aein~
the purpo;:;e cf t1'is 1"esol~2tion to provide for the payment
of the principal and. interest ,of the Hf}:i:'l:mo.ing Bonds prima"ily
from the colle ction of' delinqu.ent assessments; but for the
~:ll m1Q pronpt paynent thereof, both princip~l and inier0st,
the full f[...i th, credit and rosources of the Ci t~t of Ulc rmom
are })erebjT i rcvocably pledGed, ani there shall be annual'l~!
lcv;.0d a tr..x upon all taxable property wi thin tr..e City wh::i.ch
",Till provide suff'; cient funds to meet the interest and siri'-i:::13
f'lll1d f'equ.iremcntl3 of the Hefundine; Bonds, if such funds are
r~ot, at tbe tim:J of making the an::mul tax Invy, already on
~:lal') d 0
;:::,E IT FuaTI!~~n RE:-jOLV _D TEU1: TH~ Hayor be and he is
;.lcreby c.n thorized to cause t:he bonds herein anthorizud t., e
validated in the Cil"cui t Court 0 f Luke COiJ.~~t~r, ...t'lol'iCJ.&, un"
to secure t~c apDroving opinion of some attorney of ?a:io~a
r3pu tation as to th:) le6'..11 ty of such hon: u; :.l::d a. copy of
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sltch opinion shall 1):: furnished oach pUrcl')a~cr of such b1:mds
":Ii thou t e=~pC'71s e to such purchaser 0
Ero Tabor moved the adoption of the :{CGOhltion,
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and 1.-,po:::'. the 1'011 baing cull:o:d, the v ote \"laB as rollorls:
~:...:res -------C01.....~lCilr.1en Tabor ~ t.Iills, I.:i:avis ~ F:'~Gnch and
Euys ------- ~rO!.!.eo
~here being no further business the meeting
adjourned to meet at the call of the president
.~ ~.A. CJu~
President City Council
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