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06-07-1927 Regular Meeting ;l'. ~:1~' " ~~~ <t :'=~ " . ::1!~1~~;; ,: t'::, ~;){ '.~ r.~t~.~. . ,...... .p. .. ~ II.' i': .... ....:,;o;....~.>' ~...- ;~,-:-:.:: .~. . .. .! Q.;i.. . .... .- ~'_.l . .;; :~: . : ", i~. ':11' ./~ ~ ; ~ : ~." I\:V~ t , . ;Wit .~ 4'" .:::.'~~~p . . : ;, ; ;il"~ -i.I. .' ~!I: i .' l' P .. .. . "; .~ ~, ~ :r: lj" "$: 1i; ; ~ " ..J r ';F" ": "~ - t. .=:-. ;. ., .:..:-~t~;j . ....~ p' ~~ ~:;;~~,~ ;~~;~:~ :.,.,;i::'.~.: .:~~~ ' ~l .1. ~:; ';\0 . . ;. _:~~.. '.~,.;.! ; .':~2;1~; ::. ~ - ..:. ~ The regular t:J.onthly meeting of.the City Council of the City of Clermont held at the City Hall June the.7th',>:I927 at 8.00 O'clack P. M. f",' .' . .' ":..,; "'1 '" The meeting was called to o~der ~d pres~ded 'Gver;by Wm. Davenport acting president and upon roll call7the Clerk showed the folloWing members present: ljilm.Davenp&.t H.:F.iUley..anc1 C.E.Tabo.er- Councilmen H. C. Brown acting Mayor and Isam IDackbun~ Clerk , The minutes of the regular meeting of I!i.ay 3rd, and special meetings of May lIth. and 23rd were read and approved. R. F. House city Treasure offered the following report. for the month of May. and was accepted: . ~\:Iay Ist, Bal. DeposIts . Checks June Ist,iHance. ~?I677 .70 $I407.48 ~II50.60 $I934~58. General Fund 1575.00 2174';'22 . 2706.40 I042.82 :ffiterest " 2418.52 7444.60 7000.00 2863~I2' Sinking " 83.28 72.29 54.00 IOI .5.7 Fire il 273.31 1295.27 1234.37 334~21 Water " 279.98 506.I1 363.80 42~.29 Publicity " IOI.20 144.60 24p.80 Park " 143.23 506.I1 595.45 14.3.89 S Street " Total on hand $7088.28 The clerk read a cmnmunication from B? Wofford Wait which was accepted and referred to Geo. F. Westbrook for his opinion in the matter. . TJle clerk read a communication from Geo. A. Barker whlh was accepted and referrtd to the C. C. of Commerce for action in the matter. The clerk read a petition signed by C.F.A. andEstella.Patterson and Hrs Alice riingo and said petition was tabled. The clerk was instructed to notify The Florida Puplic Service Co., to install overhead street lights at the folliowig: BOwman l!:Hi::'1nehaha Drew " Anderson " " e.c Lake Drive " & Division Bowman &: " " & Lake Drive at an additional co~t of ~2IO.00 per ye~r. The matter of repairing the street at the corner of Montrose and Seventh was referred to C E. Tabor chairman of the Street Connittec as well as granting The Florida Public Service Co., pernition to lay a light line in the sidewalk on r~ontrose Street. for the month of May I( ~\ The clerk read the following bills and was ordered paid: STR~];T Florida Public Service CleI'lllont I-.1otor Co., H.L.I.fouse Standard Oil Co., $12. 5 ~ 3.2 . ~ #fJW1J:ftlfl/lf! :'1 Co., $302.00 7.08 40.15 26~85 Pr;.b1.#ft##/1 PUBLICITY Lake C.C.of Cor.werce FlorIda Public S~rvice GENERAL B.Wofford Wait D. A. UcClellan Fla Telephone Corp. PIa Public Service Co Clermont Furniture Co., C. B~ Hull Office Equipment Co., l~.LaFrance Fire Engine Baker & Holmes Co., Reliance Garauge WAT:JSR E. Stewart C. E. Tabor Clermont Bldrs.Supply Square Deal Garage Fla Public Serv.ice Co., O. K. Ice Co., . Clermont Hardware Co., J. G. Christipher Co., Kennedy Valve Co., INTEREST Isam '1Backburn . Harriet Onn ~I50.00 150.00 5.25 I.50 . 45.00 7.00 5.I1 123.29 2.86 I.25 .... ~ $I35.00 8.55 Co., 3.68 IO.35 25];.55 72 .-80 II.95 5.15 8.85 .~ ~pI7 5..00 75.00 #.'f!N.jf!j FIRE Cler:.:on t Builders Supply Co., C. E. Tabor Carl Tabor Stanley l'lcCain w. P. Frisz Hugh Davenport H. F. House R. R. Rogers J. W. Hins on Fields Chevrolet Co., John Achord $25..77 13'.00 2.00 4.00 4'.00 2~00 4,.00 4.00 ~.OO 12.12 58.05 The clerk stated to the Council that the City would have three notes in favor of the First State ~nk beco~ing due during .the month of June and said notes were ordered rene~ed and interest paid ~ ., ~t0"~~:~~r ,-' .l..'.-'......r...~.. .... . '.' . .. . i!'-_...~-:~....!'~r _T_"~~. -.,.. .,...~...."l"'"; -"".....~...7"-.-..~.:--. r ; -. .~.r.~.:~..1" ......i: _ . .:.... .': . . 'I' . . i Ju.nr: 1, 192'7. ""IrT.''t?1i'' ~ it.. s 1")C"""eo ........ .#:1(..... +.~,., ,",,0 ~''''T ..n..:!,.._....L,i.:.:J, .J. _.A. \ .J,....'c.....i...' ..!. .1... ,...:.\"" oJ."a'"v el~l"'tlont to 1~Cll..3':1 a. loan ("',~ ~:1.:J T;I" ...~t; ~"~Li. te Of Cl"~!"l:1or..t of $S7,~A'7.69 ~(11" ninotY' ':..ys. '. n!: ;3:3.~llc .' -:F. Ja; 11't"I'l~r mTT'"":'1?'7'I4II"l'D"f;' "'Ii' T T ';i -;"'~ nT ~'''m rn'I.. r.. +- +,'1..0 . .. 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'. .' ~ .).; . ."0 : . . . . . ~ ~ . .~.....r._. . "j' I ~~ p-.:::,~.~ ~ ':-:t Coui1c:!.l. A_.O,. -r": ,,:.:. .~ ~:.;~,b~~~ . ... , :==---===-==-~-==:: -;d;i'::~;_;~.i_~.1~L::,".J;'~~L;;~"~:"~ii:~;;~'. .,:::),,~;,~:;t:idi:::~~~i~;;~~i~~~:.~,:;{j~';i~:"~1..~~.~ ..:.:'" ;:,,-:.: . ..... """'l~ ,--:~ ",' .~; .~-"... - --- _":..';. . : .' . ~ . __ .:;. :..:~ --..-. 1",." -. ~:~..~ .:.I.~. . .-.~~_. .>" ~~~ .. ... ;--r . . .- ~,~~"?~~~~~~~.:~:.,.~~.:~~.~.~~:.-.- --- '.,;- .r'.1.TI ~ "'!, '" "'1 ~ . ~E"9.To:..'..S, 1t t:J ::'lecessary- fel' t1'c C1.4.;:J '-'f Clormont t.o :::'~llu\! u. }ua,r.. "of t:..c. FL'r:t :]J t.. JJ(; Ba:uk cf CJ. 3iOllt or $5.1"'0.fj7 f(::, '~.n~t,~:" J.;';"J's. l~O'.7, "'T-T~~Tr::;F()'!'IB.. T.:l:;: IT R~SOT"!ED.. Th;.;, t +'L~' ~ 'l"0.'';' p~r offlcers ()f "the C~ ~:"'i 'n~ Cl€;:nncl1.+ 'h;:" ~-:.(~ J:~:1o.'" t t!..LSJ are h'~!',;}'hy au.t.Lor"lzerl t~i:l~~ diroc tee!. tu ~al.::"", :~Y3:".~U~'J f:Il d....ll..'lf~'.. '..l....u' 1.'1...... <:O"",I~ 'P,.....t ~t..f,n n""l- , ".,'O~~....~....~-" U ,.; ~L I.J LJ...Ll; .........-'_ _ .....1 .) . .~ ~ w " j"')c..:.... ".., ...... .....:"".1. '_'';'~.. ..... .:" """v Oh 1n.:le"\o.te.:l""''''"<1 11" 1-""". ..,,', .....,'" ~);t.'-71~ ~..,. p,..-rr"'1(. .-.l!....,o....... L . r.t .~,., l.1.L",v~u, A ..u....... ..."-" "- ::"'''''.'' ...~. ....J"""" --. JL_,.. '-'J days from d.:.~~:r: .::.!....!.; :tLt '.','.;:;t" 4-rt.-:;;. ~l:u.t'1..:,1+':r t1.+. t"~c.: :"t:~te c{' C~ .,.j:,:.... u:r ,!n.l!':~. . .. . ..-.. ~ lJ.O:r: ~. 'Dc!l.'3 l' ,.... :. r:~. ~. ". ..,.... ....~ .1.1.... . ....-.., U "'~~~1l1.~.~lll ,,~ . .... '". ., ~ '.' OJ,J n... !1~~ (1 t 1n<:;; :..:::: ..Tl1:-"=.'~ o~ r'f " t.r~l:: C~. .....'J. 1 ,"",.~'" . J.. .. h~ :, 'l..... ioI ('~ :lc r- -2 :..' C J oc1:: . ~(';1.Jlcl1 ~ . . ... . (:11 T'''- '. ""'-..J -.._ . t$ 'J' :..: J't""".0 1'1 . , , ~ ......r- - '" .. ., 3'T'...... T:-: . (l'" Fr;:'.p:,:'!'),;" Cotm'!'1' OF' LAKE~ CI'M: OF CL:'~:lJ,!O'!-TT: .', - ~;!...i::' . m1.11s .t... +0 C "'....+ of ~~ tl1.., -I !.1.,.. ~~ +-.1' nf' ...,. ".....,." .'. . . ..L-L .1."". 'oJ. ~-''''J . ""'" v ........_..~ J.. Uti ,..... \oJ.. .oJ.. _........Lt, a nnm1clpal corpo:":.:.,-!-lc::1 :!.~.;. V.:') Co..:nty C'f T.h~.c (:rvl St... tA :OJ.~ Flo~"1n'" "'''''!' '1,..~-1'....,.:I 1~,.,.a..,n +"'" li'J! .."'~ .-~ ,.~..., ,J'-' ..-...4., ........ ~... _.,~" ..1...... , . ....._l. ......;;..00., .' -e"n1c of CJ n""oni: ~'1 t-~'l(' ..",... nf Fi"',' I!r!,c,',. ,''','''.-1 ":;1r" ", ;, ::>Q. .............-.., ..... ......' ..~ ' ....~ .J..' ..~"'I_...", .. ..... Hundred Seventy-six Dollar,) to.~~d S::'z.tY~Devcr.. cOl~:l:;:;, ($!34'76.~7), v/h1ch .SWZl the 'sa.id: C1.t:r ~i.'~l'C'''':':: +0 ....c..y tc +:h.~ or"d.er of thQ Fix"st ~+q t (3 n'"n".. on r.-' l'....f'(l....,., '.L.Tlr'",,~""r ~. ....'" f'!">(',,- "'3te ~ . ,..... I.... ...~ U.. .. I.. u ........ IJ ~ _.~ II \ ~eJ ~ .I _ ~ 'r.:-1 th 1.nt~Jt'9f:~ a. ~.. tl"lt~ rc. ~c. "r 81' n:.}J:.1 UllrJ.W:' un't 1:''- ~~':..lcl. . ... .. -". -. ~ '. ~; . -~:l~' .:~.ifJ::~ . ., . ~~.13 c(rti.ft:!.('>.~,.~ ~::; 'T.n:JU8r1 l:,~ CCT:T"'.L.._:.c:.:' ~;~:.a.;h a. ro~c,'nt10n of Ll'..o CS.t:i" ....f" C~ ;JnlC:..t. r"ul~:" ...r.:.~, :.:>..:;!..:ulu!'-. . 1.,- !,~nfJed 'ty too C~. t:; Ce. !loll r..f the G:~ ~:";l . (.i' ~l..;:_"'r.:.~l~.t . 011 the 7th ~D.j. of Jllne, 1027. .. ",..."-,.."""",, ;;;''''''J ".. · -~~~;.::: ,- .. :..~ ~~ P~~~ld~r.t ~m~nc1J. ~'- ... . ~. - ..,,: .. .... _.(..~_.- :k.~ . ---=:=-....;-,.;:.:.:...-. -JI:I.~~,,,"",; .;L..., ....; .,~..=~.,~~,;r.i;;o.'~TI.....-~t~, '''~ =0='='_.:='= r.....-.~-....c\.A--....:~J~~:.~"'i'I~"\..~~...oi.~i..,;,.... .- _,_" -;..~ -;.~~~~~.,-:~~:;~~~~~-:~"~-:;~~.-;-~.- - ~~' f",' I ~,;;;, ...... ", . r J'.. ~.. ~ In:1'3 ~.C, If.: '"/ . . :9'"~".~L1, i+- ...~ necc;Jso..~ foT' t1l0 C:t.&.:y cf 01 .:'tlcnt to J'Qnew u ,J.(Jw~ r"'~ :"~lC !"'i.J"st 2,":u te '9unk C).r (") . .'''!.~O~'l.t (if ~!:.~::-o .00 f('.r n1n.ut:r r'::..;rS. 1~(1':, 'T'J.:r.:J;>:""!;I0:~:;:, T1~ IT ~1~r~ "T....T~J , Thn L the p:i:'opo:' cff:tc..::,:'.j !"..': tl.J.tJ :J~!.. + ,; nf Cl.. ....~ ~':.::a. ~.: ,,~, U.llU t:~'~ ~;~)QJ' a~'C !""t.,,~rf)b"; ;"..1..:'..l.;""u~l.~ ':.:' ~ll.:..~ \'lir:.~ct:.;d .::;0 "':"'."':> t"'"\....~.,'l+-."" "'~'d c::!~.,i~."~. ""J.t., !"'.<, 3....~1 i4'1"'st ..-.It.z.:'''w, ..,""....,_" ""~~ (A.oA.~ J..".1. I.....,. """'-I. v ......_ . _...~ .-. . S~....~:.."'J E:;.nk, ~~ cOl't,if1ci.\.Jvl... C.r ::'.~::!.e':~~:Hlnl3s3, 111 i:I:o ,."". ("loP ~r:"'.,",,,, 00 p' ~"u~~le ~. ~,,{',-f".,' -'1" .,,, .p"'Ol:l. rl" ..", \".::1. t';lJ. "'l.oW;'~~...,.-. . .r"~.~; ~'. ..~.I~: .",f~ ... 6.~.~~"''';..1'~. ~~~''':.~,..'''....... .- .... c.'"'~. '^ "- 1r....t.... .3t ....._. 'J..J. ....l.l4....."'t_1t;j s..u .....v ....c..-. ~ of (,~,' ,....J-:.. ur..:'lU!.... . -, -. !)C'l..u ..... J.. ~_ I'e.:t!.~ ~l' ..;:est:in~ of the City (.r 01 :"_:;:C';1t. :-(~~_,:J u''-: thl;) 01 tJ" Ht.\.11 on J\.mo r;, , ~S7 u.~~ 9 c '.~1('~1;.:., ~~ PI'cs1d.c11.'t C~ ~.' Coullcll. " .::.~~:r ~..~.. ..,::.. . ".l. ~ J t;: J. ._. ..'1~. I. ~~~ ~:7":~~ June ]3, IP8'7. 'IL" .. ~,T....TB C~ '!"LC:':I'!\.., ~ CTmTY OF I_ '\KE; CI~ ('IF Grsm.:m~'!1: ~'. " T"'lr. !.a tQ c,)l"~:lf'y that the; Glt~. of CJ ";_'mont c. nunlcipo.l CU1'PO:"c ~iVl~ in tho CO....lnty (":1' L~o ~t.l: ~:;ut.G. of Flo1"'i~~u, 1~ in1..;1'-t-s-J unto the Fil'a'!': 9;,1... to Bank ("If 01,' 'M.lOnt, In tho ;JUIJ. of ~~v'''' m'l.1C'!1'" "le Do"la"':' (<.I!oJ!iOCO 00) ..,1'i"h <"',.,." thf~ J..... ...., .L. ..' "'-Wo ~ ._ . WI I. '- . ,\....!. oJoA. Uw..,U" ...a.v J:!<'~~ C..,...,.., "'''-'!'1'~ +,., 'l,,,r"t() tllr> Grd""'" ",.t:' -'rlC' F-trst _t.\..1 ..' '....v ~..J'" oJ.. I..' ......t" It.L. .. U . ,.,. \..... 1"".. ~... Statc Bur::: or.. 01' 'h~fcro lr:!.:r:.ot.y d'._ys frOli'l dt...t.c \lit:t. ll~t:.f~: '~.~3~~ U. ~ 1'1.,.; :.:~:,c of C~ ~."J!' Ull:'lurJ. 1..U1t11 !le..1d. , ;..." -i. \.. .': ~-": ." ;01":;.'" . ..' A .,. T""~:.\ ~r,'!''!-if'ic:,.',..., ::~ ~.~3U"i~d in ~oIJ.vli[~:ncc '::i t.h (0. j;'o;Jolu ~ iUll of tho C~ ~~l r. r :;1 :;~~ont ~u.ly .._.i:.J .: ,) ",:u::!.r...:,,'l" . .i....;; :.' 'Fr', h:r t'~Q ._:1. b:- Gcullc:l of t" r: C~.;:"y nf' en." -T.'!ont ('1: 1:: .') 7th" ~:".~' ".~ June 1:~7. ~.~.....:-. : .' . . ~":~j~. . , ll','":To"" r,,;..j .... ~~. ....: " >-.r." ....... . . ~.~ '~,:"i\;r_:~;i'::0,;<:.'.i.,t;~:.:", >, ~ l~_!o ..~.~l~i.~ .. '! .~.J"~,';..J;':~~i#-~~..:..:. ... ~~.:.ul.:. ......... ......._:. 0";._ . __......... :,. ..:' ..,,:.: . :~~ "'.' .,:./..:-L..~~':. '~~~~~:k:' ~':~-""""-""--- --- -.~,-':":.':: :.' .-'~ --- ~- " . ".. . i:~.. ~" ~ ".' /I,,' 't'..,: ' , ~ ':' i4;.':'.. . ~~~I! ..~ . :~': . ,. r II'" ~~i ;~::~ ';;~... . '!L.~.,. l;-'~ ' ~, . I', .... .is ' I:" 'J~"': r ~i r , ~ r .~ I..,." of'F. 11'., t:' ,': f t ..' l..: f i: ,: t' . f L II" "L: '. " j' I' .~ I I I- "2: " :!~ .... 1 .t., ,4~.- :.- ': .. J;:', .... : ,'. ".1 ' l' . ~, l' I,' t'. ..:. 'r ' f ". ! '. ~',., ' ~_. . f. ' r, r l ~ t ' ~1"~.' ':J,'''";~:-;;'"".~' "r"~.": ' f:--, I Z" "f.: ,.:; , I- .: " f~"' l~~" :.; .t: , ~" t ,;' I;. I.:' ,- -"__ . J O. E. Tabor offered the following resolution: RESOLUTION PROVIDING FOR THE ISSUANCE AND SALE OF ONE HUNDRED ~WENTY FIVE THOUSAND DOLLARS CAPITAL FUND BONDS OF THE OITY OF CLERMONT; P~OVIDING THE FORM OF SUCH BONDS AND THEIR DATES OF MATURITY; 'PROVIDING FOR THE CR~ATION OF A CAPITAL FUND AND THE MANNER IN WHICH SUCH FUND SHALL BE HANDLED; AND PROVIDING FOR THE LEVY OF A TAX SUFFICIENT TO PAY THE PRINCIPAL AND INTEREST OF SUCH BONDS. WHEqEAS" the Legislature of the State of Florid.a during the regular session held in the year 1927 duly passed an Act entitled: "An Act to Authorize the City of Clermont in Lake County to issue bonds in an amount not exceeding Three Hundred Thousand Dollars for the purpose of creating a Capitel Fund to be used for Financing end Re-Finencing Local Improvements Therein~ and to Provide for the Pa.yment of the PrincipAl and Interest of such Bonds" .. whicb said Act was approved by the Governor on May 13" 1927.. and filed in the office of the Secretary of State of the State of Florida. as required by law~ and WHEREAS~ the City Council of the City of Clermont is author- ised by the provisions of such Act to issue and sell bonds of the said City of Olermont in an amount not in excess of Three Hundred Thousand Dollars for the purpose of creating a capital fund to be used for financing and re-financing looa.l improvements in the said City~ and WHEREAS" t~e said City Council now deems it necessary and in the interest of the said City of Clermont that Capital Fund Bonds iIi the sum of One Hundred Tv-{enty-fi ve Thous~nd. Dollars be .issued for the purposes hereinafter set forth~ THEREFORE.. BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF C~ERMONT th~t there shaIl be issued One Hundred Twenty--five (125) bonds of the City of Clermont of the denomination of One Thousand Dollars ($l~OOO.OO) each.. to be known end designated as "CAPITAL FUND BONDS" SERIES 1".. B_nd th~t such bonds she_ll be numbered consecutively from One to One Hundred Twenty-five.. in- clusive" and th~t es.ch of such bonds shall be da.ted July 18t~ 1927..and shall mature serially as follows: Bonds numbered 1 to 12.. inclusive.. on July Is".;.. 1~30. , Bonds numbered 13 to 25.. inclusive.. on JulJ lst~ 1931; Bonds numbered 26 to 38.. inclusive.. on Julj' Is'~, 1532; Bonds numbered 39 to 51~ inclusive.. on July Ist~ 1933; Bonds numbered 52 to 64.. inclus i ve.. on July 1st.. 1934; Bonds nul11bered 65 to 77, incluB i ve.. on July Ist~ 1935 ; Bonds numbered 78 to 90.. inclusi ve.. on July 1st.. 1936; Bonds numbered 91 to 103.. inclusive.. on July Ist~ 1937; Bonds numbered 104 to 116.. inclusive.. on July 1st.. 1938; Bonds numbered 117 to 125~ inclusive.. on July 1st.. 1939; that each of such bonds shall bear interest at the rat~ o! six per centum per annum~ which interest shall be payable semI-annually on January 1st and July 1st of each y.ear~ and such interest shall be evidenced by interest coupons attached to said bonds; thp.t e8ch of such bonds shall be payable in gold coin of the United States of America of the present standard of weight t:md fineness~ and the interest shall be payable in la.wful money of the United Sta.tes of America~ and both principal and interest shall be payable at the American Exchange - Irving Trust Oompany~ in the Oity of ~ew York~ State of New York; that each of such bonds shall be sIgned by the Mayor of the Oity of Olermont and by the Oity Olerk of the Oity of Olermont, and shall have the corporate seal of the sa.1d Oity af- , fixed thereto; that the semi-annual interest coupons attl"ched to said bonds shall bear the lithographed fac simile signature of the Oity Olerk of the Oity of Olermont~ and such bonds shall be in sub- sta.ntially the following form~ with the necessary changes for num- bers and dates of maturity~ to-wit: (Form of Bond) UNITED STA!ES OF AMERICA STATE OF FLORIDA OOUNTY OF LAKE OITY OF OLERMONT OAPITAL FUND BOND~ SERIES 1 No. $1#000.00 KNOW ALL MEN BY THESE PRESENTS: Th~t the Oity of Olermont in the Oounty of Lake and State of r1orida~ for value received acknowledges itself indebted and promises to pay the bearer the sum of ONE THOUSAND DOLLARS in gold coin of the United States of America of the present standard of weight and fineness~ on the first day of July, 19---J with interest thereon at the rate of six per centum per annum, payable semi~annually on the first days of January and July of each year on presentation and surrender of the interest coupons hereto annexed as they sevetally beoome due; principal and interest payable at the American Exchange-Irving Trust Company in the Oity of New York, State of New York. THIS BOND is one of a series of One Hundred Twenty-five ,.-.... \ bonds of like date~ tenor and effect~ except as to m2turity~ known as Oity of Olermont Oapital Fund Bonds~ Series l~ issued by the Oity of Clermont for the purpose of creating a capital fund to be used for' financing local improvements in the Oity of Olermont~ Lake Oounty, Florida~ and is issued in ~trict conformity with the laws of the State of Florida~ including among others an Act passed at ~~~~t~'_:- . ~.:":;ct:~~. 'i~~~::. .. ,r.'"",'" ~_.: ~~~~. ' !.r... ~:;!;", '. ~lt 1':.,' ,: :'ilr",' ' =:::- ..:--- .'i:.r,:~ J.. ii" . 'j!;:' . l' :, f,:. 'r: . . :.Y :t" { ", ~" ~: . : t ' f . I!~ r r.... ~. ,': 'ie 'f ~ . ;~ ... .' 1 " .' . , ~ :. t ~"...;;, ~. -,r. t~t . 'jr,::, ' : iJ........ . ;~ : I',' l:~ E '.' .r, ~t, 'j:. ~ , .: I" ~.. :. ~ '. . ,..... . ;. ~... . I , ~ Ii' ,~ii~, ---- ---- '::;~ i~ .': !' !, i<- ,. , "':":',~.j the 1927 session of the LegislAture of the State of Florida~ en- titled: "An Act to Authorize the Oity of Olermont in Lp..ke County to issue bonds in an Amount not e~ceeding Three Hundred Thousand Dollars for the Purpose of Creatihg a Capital Fund to be used for financing end re-fin~ncing local improvements therein and to pro- vide for the Payment of the Principal. of and Interest on Such Bonds"~ and pursuant to a resolution duly adopted by the City Council of the City of Olermont. IT IS HEREBY OERTIFIED~ REOITED AND DECLARED that all acts~ conditions and things reauired by law to exist~ happen and be per- formed precedent to and in the issuance of this bond~ have existed~ have happened a.nd ha,ve been performed in regula.r and due form~ time and manner as required by law; and that the amount of this bond~to- gether with all other indebtedness of the Oity of Olermont~ does not exceed any limit prescribed by the Constitution and Statutes of the State of Florida; and that before the issuance of this bond provision has been made by resolution of the City Council to assess annually a tax upon all taxable property in the Oity of Olermont~ Florida~ to realize a sum sufficient to pay the interest upon this bond as it may become due~ and to create a sinking fund for the payment of the principal hereof at the maturity of same. AND FOR the pa.yment of the principal a.nd interest of this bond the full faith and credit of the City of Clermont~ Florida~ is hereby irrevocably pledged. IN WITNESS WHEREOF the Oi ty of Olermont~ Florida,~ has caused this bond to be signed by its !layor and by its Oity -alerk~ end 'ha.s further oaused the interest coupons hereto attached to bear the lithographed fac simile signature of the said Oity Olerk, end this bond to be dated the first day of July~ A. D. 1927. OITY OF CLERMONT~ FLORIDA. City Olerk Mayor (Form of interest coupon) . Coupon No._ $30.00 On the first day of ~ 19---, the City of Clermont~ Florida~ will pay to the bearer the sum of Thirty Dollars In lawful money of the United Sta.tes of Amerioa at the America.n Exchange-Irving Trust Company~ in the City of New York~ Sta.te of 5ew Torki being the semi-annual interest then due on its Olermont apits.l Jund Bond~ Series l~ No. ~ dated July lst~ 1927. Oity Clerk. - -,..:,'~~~;'.,:~",-r;--:::~~",,"=:--: (form of validation certificate) I certify th~t the within bond w~s velidAted and oonfirmed by de- oree of the Oircuit Oourt of Lake Oounty, Florida, rendered on the _ day of ~ A. D. 1927. Olerk Oircuit Oourt, Lake Oounty~ florida. BE IT FURTHER RESOLVED~ that the Mayor and the Oity Olerk of the Oity of Olermont be~ and they are hereby, ~uthorized and directed to have all necessa.ry steps taken in the issuance of such bonds~ and to cause the same to be advertised for sa.le once each week for three consecutive weeks in a newspaper published in the Oity of Olermont~ Florida~ and for the same length of time in a newspaper published in New York Oity~ New York~ reauiring written bids for the purchase of said bonds to be accompanied by a certi- fied check in a sum not less than two per centum of the bonds bid for~ the sum evidenced by said check to be. forfeited to the Oity of Olermont in the event the bidder fails to comply with the terms of his bid if the same is accepted and the bonds awa.rded him; and such advertisement shall provide that bids will be receIved for all or any part of the bonds hereby authorized and shall reserve the right of the Oity Oouncil to reject any or all bids; and in the event no satisfactory bid is received pursuant to the published notice~ the Oity Oouncil shall proceed to sell the bonds at pri- vate sale in such amounts and at such time or times a.s they she.ll deem necessary; provided~ always~ that none of said bonds shall be sold for less .than ninety-five per centum of their per value and accrued interest~ if any. BE IT FURTHER RESOLVED that the proceeds from the aale of said bonds shall be uSE;ld for the pu~pose of crea.ting a capital fund, which se.id capi ta.l fund shall be kept entirely separate on the books of the City of Olermont from all other funds; and the said capital fund shall be used for the purpose of financing and/ or re-financing the cost of local iwprovements in the Oity 9f Oler- mont for which special assessments have heretofore been levied against property benefited by such improvements; and for the pur- pose of maintaining the said capital fund and repaying such BumS as are expended' therefrom~ and to provide a fund for the payment of the principal and interest of the Capi te.l Fund Bonds~ the Oi ty Olerk of the City of Clermont is hereby directed to transfer to ~. ...-.....,- =:;=-'~::~:J:""~ "9.": -=_-'~-."" I I'~::-,,' ,~'~~ r:.::'~ ~.., . l..". II!\,::: ";;\i, ' , j: I,: j;:,. [' t, ,If'.., " :~.;.' (". ( ~:, Ii:':, r' t '~;/ "~ ~ -, ',:': , ,~ ~:' , ~~ " ~~ :' ''II!'' 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L '[.,:~,. .". suoh fund oertificates of indebtedness heretofore issued by the Oity of Olermont against property therein for assessments for 10081 1mprovementSl which assessments have been 60nfirmed by the City Oounoill to the extent of One Hundred Forty Thousand Dollarsl whioh said oertificates of indebtedness shall be held in suoh fund unoaboelled until the collection of such assessments as are repre- sented by the certifioates of indebtedness have been made; and the daid Oity Olerk and the City Tax Collector are hereby directed to pay into said oa.pita.l fund all oollections of assessments levied agaInst the property aga,inst whioh such certificates of indebted- ness have been issuedl and ps the colleotions from assessments are paid into the oa.pi tal fund the certificate. of indebtedness shall be oancelled as against the particular prooperty paid upon. There shall also be held in such ca.pi tal fund" unCRncelledl all bonds of the Oity of Clermont which shall have been retired by the payment of the principal and interest thereof from the said' oapi ta,l fundl but upon the repayment into the said capi tel fund of the sums so expended in the retiring of other bonds and inter- estl then the bonds held as security shall be cancelled. BE IT FURTHER RESOLVEDl that the Qity Tax Assessor bel and he hereby iSl directed to levy annually while any of the said Oapi tal fund bonds are outsts.ndingl a tax upon all taxable property . . ' in the City of Clermont sufficient to pay the prinoipal of and in- terest on all Capital Fund Bonds which shall become due prior to the dRte of collection of the next suoceeding annual tax levy; but the said tax assessor shall first a.scertain the amount of oash in the said capital fund which is available for the payment of principall and the amount ~f cash in such fund that is available for the payment of interestl and the tax levy for the payment of prinolpal sha.ll be reduced by the amount of cash in s~id fund that is available from the collection of assessmentsl and the tax levy for the payment of interest shall be reduced by the amount of cash in such fund which is available from interest on a.ssessmentsl or on seourities held in suoh fund. BE IT FURTHER RESOLVEDl th2t all such Capital Fund Bonds as are issued and sold pursuant to this resolution shell be pe.yable primarilY from the sR.id capital fund herelSy ore~ted; but for the tu~l and prompt payment thereof" both prinoipal and interestl the full faith, oredit and resouroes of the said Oity of Olermont are hereby irrevooably pledged. BE IT FURTHER RESOLVED, tha.t the said Oapi tal J\md Bonds issued in pursuance of this resolutIon shall be sold for oash, and thet all or any part of the issue hereby a~thorized may be sold; and that after the first advertisement the bonds not sold pursuant to suoh advertisement may be sold in suoh quantities and at suoh times as the Oity 06unoil may deem neoessary, without further ad- vertising; but no bonds shall be sold for less than ninety-five per cent of their par value and accrued interest, if any. BE IT FURTHER RESOLVED, that the Mayor and Oity Olerk be, and they are hereby, directed to oause said bonds to be validated in the Oirouit Oourt of Lake Oounty, Florida, and to obtain the approving opinion of some well known firm of bond attorneys, whioh . said approving opinion shall be furnished the purohaser or pur- ohasers of suoh bonds without expense to suoh purohaser or pur- chasers. --------------------------------------------- The foregoing resolution being duly seoonded was put to a vote, and upon roll call wa.s unanimously adopted, the vote being as follows: Ayes: gouncilmen W. M. Davenport, O. E. Tabor end H. F. ailey. Nays: None. I HEREBY OERTIFY that the foregoing is a true and correct oopy of the resolution passed by the Oity Oouncil of the Oity of Olermont at a regular meeting the Oity Hall in said Oity of A. D. 1927. of the said Oity Ooun~il held in Olermont, on the .::r..!f. d8,y of June, J--~ ~ty lerk. 10 further business the Oounoil adjourned to meet again '. upon the oall of the President. ~ .~~ Aoting President of Oounoil. -.!: ...:;:.:-:..s.,'~--::~-=;-- ---- ..- , .~.