HomeMy WebLinkAbout07-28-1924 Regular Meeting(Cont,
Be it further ,resolve-i that the said officials be and they are
hereby authorized and empowered to do all that is necessary in the
uremises in order to borrow the said sum of money and to properly
evidence the same.
There bein:; no further business, upon motion duly made and
s(-;conded the meeting; adjourned to meet again,at 1.00 o'clock
P.77. Au ,ast 4th,1926.
Approved:
At I;ect;
City Clerk. -----
President iYf_-dfEyCoun&IT.
i 1;.UTLS OI{ RL iULAR ADJJuRivLD h. '1'Iid:l U� Tt , CITY CiUviCll, OF
CITY Ji• CLhRI;.U'.'iT? JULY28th,1924.
Pursuant to the call of the rresident of the Council, a re,;ulu�
adjourned meetin, of the City Cpizncil of the .].ity of Clermont was
held at the usual meeting place of the Council in the office cf the
Clerk at one o'clock P.i.:. o:, i:.,nnday, July 28th,1924. There were
present Messrs. H.L. House, H.C. nravm, ;J.r?. Bess and D.J. Westbrook
Mr. B. "offard 1.7aite presented to the Council proof of
publication of notice of receivin? bids for.$43,300.00 of bonds pro-
posed to be issued by the Cchty of Clermont, which was ordered filed
in the archives of the City.
Pursuant to the terms of this notice, bids for -the purchase
of these honds were opened and were found to be as follo�.,is:
i:ri ;ht, �:"arlow & Co., Orlando, Florida 046, 357.80
;:alter, ';':oz)dy &. heimerdin:;er, Cincinnati, uhio and
KB. bawyers Co. Jacksonville, Florida, 46,900.00
Ryan, Bowman & Co., Toledo, Ohio
95 ;; of par.
After discussion of these bids, upon motion duly made and
seeDnded, it was unanimously decided to reject all of said bids, and
to re -advertise said bo.ids for sale.
Upon receivin; information that the low prices which had
been bid for said bonds were due, in part at least, to the fact
that there were included in the issue thirty-three bonds of
$100.00 each, I. r. H.C. Bro:m offered the fol_lowinr; ordinance,
which was read in full the first time:
Ordinance iv o .
Am Ordinance to Amend an Ordinance entitled; " An ordinance
establishins-" the date .numiwers, denominations, date of maturity
and form OS the bonds provided for in a certain Ordinance of the City
of Clermont, passed and adopted by the City Council therof,
on the Cth day of iyia-s, A.D. 1924, and received and approved
b;;r the Mayor of said City on the 6th day of I'riay, A.D. 1924,
entitled; " An Ordinance pr.ovidsi.n::; for the call and holding;
an election in the City of Clermont, a municipal corpopation,
in the C)unty of Lake and atate of Florida, for the purpose of
authorizing the issuance of negotiable coupon Bonds of the
said City of Clermont, for the following; purpose!, to -.wit;
$1G,700.00 for the purpose of purchas#in? and ,$nstalling an
Aditional Unit for the municipal Electric Plant; Ele�van
Thousand Three hundred ($11.,300.00) Dollars for the pure ose
of rebuildin7 and extending the electric light lines and water
mains; Thirty Fife Thousand ($35,000.00) Dollars for the
purpose of paying., settlingr and discharging the said Cities
present outst�indin,: general indebtedness; Tiro Thousand
(,-�2,000.00)D0110�8 for the purpose of establishing and main -
twining a public Fire department, and purchas,#ing necessary
eg7,.ipment; all within the corporate limits of said City,
a,r I're 7atin-r the sum of Sixty . Five 'Thousand (y 6z.), 000.00 )
Dollars, directing the executing of said b onds, and pro-
viding for the levyiri ;, as essin- and collecting .of asa`
annual tax for the payment of the principle and interest of
said Bonds. "
Whereas, on the llth day of June A.D. 1924, a
certain ordinance was pass-ed by the City Council bf the
City of Clermont, entitled; An Ordinance estahlishing the
1.
date, numbers, denominations, date of maturity, and form
of bonds provided for in a certain ordinance of the City of
Clermont, passed and adopted by the City Council therr,of,
on the 6th Day of 1,7ay, A.D. 1924, and received and approved
by the layor of said City on the 6th day of May, 1924,
entitled ; " An-rdinance for the cal ing and holdin ; an
election in the C ty of Clermont, a municipal corporation,
in the Cc>unty of Lake and State of t,'lorida, for' the purpose
of authorizinT the issuance of ne?otig6&O bonds of the
c upon
said City of Clermont, for the folloVing purposes,
a
to -wit; Sixteen lilousand Suven Hundred $10",700.00) for
the purpose of purchasing; and installin3 an editional
unit for the P,:unicipal Electric Plant; Elevan thousand
Three hu iddred ($ll, 300.00) Dollars for the purpose of
rebuildinT and extending the Electric light lines and
water mains; Thirty Five Thousand (135,000.00) for thr
._
the purpose of payinm,'settlin; and dischar-in7 the
aid Cities present out standinj indebtedness, ; Two
Thousand (:` 2, 000.00) for tie p-: r_.:ose°f stabl i s L ; and
maintaining• a TeT
_, public fire department, and pu2..�aZ.,#irm
necessary cquiprment therefor; all within the corpo:•ate
Y
limits of said City, at; ;re satins the sum of Sixty Five
thousand (4.35, 000.00 Dollars directing the executi �n of
said bonds and providing for the levying, assessing and
CbIl eating. of an,-. annual tax for the payment of the
principle and interest of said bonds", which said
ordinance was received and approved by the Layor on the
llth day of June, A.D. 1924 wherein and whereby the
form, date, numbers, denomilnations, rate of interest
and maturity of said bonds proposed to be issued by the
'
said City of Clermont, in the a;-regate sum of Forty
A
,
Ei•,ht Thousand Three Hundred (;"48,000000) Dollars were
fixed and,
;.hereas , it was provide in said ordinance,
anong_. other thins that 11 Forty Five of said LDnds,
nimibered from one (1) to forty Five (45), both in
elusive , shall be of the demonination of One
Thousand (y$1, 000.00) Dollars each; Thirty Three (33 )
of said bonds, numbered from forty bix (46) to seventy
ei•rht (78 ), both inclu4.,ive shall be of the denomination
of One aindred (4100.00) Dollars each"; and,
:hereas it has been ascertained that said Bonds
;rill eomnaand a better price if issued so far as possible
in the demomination of One Thousand (;�;000.00) 'Dollars;
N J ., 1H!,R �. OR, ,� I t v*t��1i '-;0 SX T,i' , CITY C:iTCIL
:,:.
J'►. Ti::r: CITY O C1,?•,117T J-.T:
Section 1. T_1at section Iof said ordinance be and
the same is hereby armend.d to real as follo,.rs; That the
nds provided for in that certain ordinance of the 06ty
of Clermont, entitled; 11 An Oridnance providini; for the
Callin-c and ;:Ioldinr; of an Election in. thn City of Clermont,
a municipal corporation, in the County of Lake and `'tatc of
b'lorida for the purpose of authorizin-; iscunnce of ne .oUi .ble
C-)upon )fonds of said City of Clermont, for the followin-;
pur,,oses, to -wit; Sixteen Thousand Seven liiindred (�;13,000.00)
Dollars fo. the rurpose of rurchas in- and lnst: llir..; iari
Additional LunuGfapal Electric Light Plant, Eleven Thousand
Thrce (rll, 300.00) ')ollars for the pur-pose of rpbuildin-1: and
extending The Electric Ui:_;ht Lines and ::titer :..aii1,a ; 2131i ?t t
Five Thousand (,;;135,000,,00) Dollars for the , ur,ose Bf PL yi-ni
Settlin,*, and Dlsehar ing; • the said City's
iT:;��ELZl'�; :x�%5:,: Two laousand (p2,000.00) Loll- -, .for the
Purpose of Lstablishirig and ma.intainin-� a I•?:�'1�, I i�ii'.:."�'�°
�. 1,;;,:T and lurchas3.rig necos -ary EQ7,TIP1.'::T all -.:itYLn
the Co aorn teLimitsof the said City, A c-re 7 t!.:� r i,.:. ^Zam of
Sixty
Five
Thousend (gp35, 0n0.00-) Dollf! rs",
t��' :: tic'.
i• :;; ;, th
day of'
May,
A. D. 1024, an:' ap.)roved by tlic
rn,yor
on the ., th
day of Ilay, A.D. 1:)24, except Bonds t -) ti-ic 1_,-_)n4s
aeven r•:)n-.'red ($13,700.00) Dollars for the ;;ur.iose of pU.:_' 3.,:.,.., hf7
43
nd enctallin- an additional unit for tli:: munici-ic.l .i 1-it
the is~uance of which bonds, except tiie said ano-.;ait of Si;,tc;c;n
Thousand's even l- ndred (,p16.700.00) Dollars for tiic yjar .ose of
�jurchand enctr '.lin v:n editional unit foie tiic Electric
li--ht ,plant zus FutndrizedL by the vote of the qualified
electors of the City of Clermont, at a speci::l election hold
on the loth day of June, A.D. 1924, ionrstiant to a yron;?.a ..� Uc)n
ir::ued by the Mayor of the City of Clermont, can tine 3t7: dry of
I:ay, A.D. 19240 shall be^.r the d^to o:i July lst 1012,11,; ?'o -t;y
Ei:,ht of said bonds, m,mbF.red from one(1) t) fort- ci^•l;t (40)
both ix l si e , shr.11 bc; of the done--.',_ti.ti:;n of +n
( y$1, 000.00) Dollars oath; One (1) bond t2:om ?..red -- ort-r :?o
shall be of the denomi:.!::.tion Three I.;.._:DT;:• F) (.,5.30�'.OG) Dollars;
and all of said bonds shall mature and b:;,.- due L.nd i:c:y+ bl1
titirty (30) years after d-+te, all of said bon __s i,.-) be, 1-
at the rryte of six pert: nt (3;)Q payable semi an_,.c.:11y on t _ic;
fir: t d!,y or Jan. an . -I the first duty of July Of ettcal Yc.,r, .-lid.
to be duo anu payable. &s to both iiiter:.._t and ,�r•i, �iplk� , ^�
the s{.mc =,.lure, at the American i:ati.; i:.l ziank of
New York City
t":r
SectiDn 2. That 6ection o? said ,;rdinance be and the
same is hereby amonded to read as follows; that the said bonds
n r�bered from OrLe (1) to b'orty Li?ht (48) both incluseive, and
the interest • c )Lu Bona thereof, shall be substvntially the
foll.ovrinrr forma to -:':it;
UnitF�d. State of M.-I'PRICA;
_ STAT7: OF FT.ORIu)A,
CITY OF CL,,-RP.,O T,
:ICIPAL ?uU .'D.
For valued received, the City of Clerriont, a
r?uznicipal corporation in the County of Lake and State.of
Florida, hereby acknowledges itsself indebted. -and promises
to pay to bearer One Thousand (;�1,60D.00) Dollars, on the
firt:t day of July, A.D. 1954 loath interes% thereon at the
rate of sic Percentum 65 per annum, payabel semi annualy
on January 1st and Julv'lst, on presentation and surender
of the anne:ced interest coupons as they severally cone due,
both principle and interest bein:r. pay-ble in ;old coin of
the United States of America, of the present stand^rd of
tier-ht -and finecss r:t the Amerids.n hXchan-;e 1vati )I-,ul Bank
of the City of New 'York, N.Y.
This bond is one of a series of forty nine(490
` _;ona s, a-, :r a ;c tii Forty Ei•;ht Thousand Three (048, 300.00 )
Dollars, of like date and tenor of which binds numbered
from one to forty eight (48), both incluseive, are of the
d.enor.ina.tion (41,0.)0.00) Dollars and bond
numb: -red forty n.i'le (4(,o is of the denomination of Three
Ii: "1)I�H•; (�300.00) Dollars, and is is ued by the City of
Clermont under and in full compliance with the Constitution
and lams of the State of Florida, and an Ordinance entitled;
11Adak Al- OR:)II:I,b.OTT •DrOVIDI;•IrT for the c��17_innPuolcTin= of an election
_ in the City of Clermont a Luniciotil Cori) or=•.tion. in the County
of Lake and State of F•lorid.a, for the rur-)ose of Authoriziii^;
t_ie Issuance of i•1c ;oti9.bl:• Coupon Bonds of the sari. City of
Clermont for .the F'ollowin! Vu.;oses to -Wit;
Sixteen 'thousand Seven iubdred (416,700.00) Dollars for the
lu.r •ose of ; urchasein.: and Installin an Additional Unit for
t'.ne I.,U_•:I!.CPAL '_L.L"T •.IC : Llii�.T?
Elevan Thousand Three Hundred (111,300.00) Dollars for the
rurpose of rebuilding and extending, tiie Electric Light Lines
and water Mains; Thirty Five Thousand ($35,000.00) Dollars
for the purpose of paying, settling; and dischargeing the
said City's present outstanding; General Indebtedness; Two
Thousand ($2,000.00) Dollars for 'the Purpose of Establishing;
and maintaining, a public fire department, and purchaseing
Neces:_ary equipment therfor;,all within the Corporate Limits of
said City, Aggregatinc the sum of Sixty Five Thousand ($65,000.00)
Dollars pasted and adopted the 6th day of May, A.D 1924; and
received and approved by the Mayor on the 6th day of May, A.D.
1924, a special election by the duly qualified electors of
said City, duly called and held on the loth day of June, A.D.
1924, and proceeding, and resolutions of the City Council of
said City of Clermont under said Ordinance approved on the 6th
day of May? A.D.1924. and other ordianances resolutions and
proceedin:(;s of said City duly had and adopted.
This Bond may be registered in the holder's name as
to principlb only on the books of the City Clerk of the City
of Clermont, Florida., -,such registration being noted upon
the Bond by said City Clerk, after which no transfer shall be
valid u#less made on the City Clerk's books by the registered
holder and similarly noted -on the "ond, but the same may be
discharged from registration b•yA,bg1ng transfered to bearer,
after which it shall be transferable by delivery, but it may
be again registered again as before. The registration of the
Bonds as to principle only shall not restrain the negbiabili•ty
of the Coupons merely.
IT IS HEREBY CERTIF.IED,. RECITED AND DECLARED that all
acts, conditions and things required to exist, happen and to be
performed, preeed6nt to and in the isFuance of said Bonds,
have existed, happen and been performed in.due time, form and
manner as required by the Constitution and Laws of the State
of Florida, and the Ordinances of said City and that this issue
does not exceed any constitutional or statutory limitations.
For the payment of the principle and interest of this
Bond the full faith and cre&it of the said City of Clermont
are hereby irrevocably pledged.
` ;THEREOF W eaid City of Clermont has
caused this bond tQ be i ied' by 'it's, ear` .a s •' M' "
C ty Clerk, and its Corporate seal to be•affixed..and has caused
the intere^t Couj,-)ns hereto attached to bear the litho -graphed
uc-simile si -.nature of the Mayor, and this Bond to be dated
July 1st, A.D. L924.
No .
Mayor.
City Clerk.
(Form of Coupon)
$30.00
The City of Clermont will pay to bearor on lst
day of , A.D. , Thirty (J30.00) Dollars in
-old coin of the United States of the present standard of
:r i:;ht end finess at the Americ� n -Exehan ;e ��+ati )nal ,Bank of
the City of New York, i;.Y.,, b(-.in-; six months intore : t then
due on Bond No of the said City, dated July 1st A.D.
1924.
Mayor.
That the said bond ilurabered Forty Pii�iib (49) and
the iiitere:: t eo'.),;ons thereof shall be in substantially the
same form, excejst that the denominatio-1? of said bond shall
be throe. iwndred ("300.00) Dollars and the interest coupon
shall be each for the sum of line ($9.00) Dollars.
Section 3. This "rdinance shall become effective
imriediately u•�on its pas: a,;e by the City Uouncil, and upon
being ap-aroved by the Mayor,
1924.
Attest;
Pas::e , and ado,.)ted this 28th day of July, A.D.
PresidenE or al y Counts
City Clerk
Received and apdroved this 28th day of July, A.D.
1924.
Mayor.
U on motion duly made and secon•aecl i� .r:3.s
decided to suspend the rules and •.•:c: the said or,Ai.i,in3: to i'cs
sec..)nd readin-- at this' meetin• ,, thercu :on said
duly read in full the socon-1 ti.ae.
Tyr. ;l. C. Prov m then moved the a4o t !_on ;.,f :;:�J- J.
ahich �.m.s .ulv seconded by Hr. D.J. L"estbro,)k, any, u,.:o.1 wo (Dl'1
call vote, said Ordinance qas ado.)tcd by the unanir,ous vctf.: of
all members of the Council.
^lhereuj:)n tr. ;iaite st,,ted to the Ciluicil �11i ; _o _,"
in receipt of a tcic: -rc-m Miescrs 041s.;ell and Ray,.-ond , ;.;olici
Attorneys of New N.ork City advisin _: thL.t it :oul.. be 1L; '1-1
to offer _--id Bonds for sLle at public ru::-ciei1, aL't--,-, ti:e
seale,a bids hadbeen opened and canv: .."!
Ut.on :notion duly made and secondea., it :as unani:.iou:.iy
decided to reconsider the former motion to re-ad.-.,r(-vtice i;ha
sale of said Bon•5.s an i to offer these r:xils for tale i :;
im:.er.iiately.
The Londe. ::sere then offered for s::le ; `:'C'�i.:)I:,
;rhen the sum of ;ti48, 300.00 ae s bid by .;alter, Iic:irn2rdin ;cr
and the sum Of $48,310.00 was bid ;I.;,right, ;crlow and Co.
Thor,_ bein!-• no further bids, u.,;on motion du7_y r,:ade and
secondeda the sale of said bonds was avrtirded to a cl
Co., at and for the sirn of , 43, 300.00 accrued anti. a
premium of ;10.00, and the +,resident of t ae Ci.t;;r ;;�vncil - f'. ie
Clerk were authorised to enter into a contract relo. i:i:z ;her of
of which the folloerinT is a coljy;
..RI'sliT JARLU'.- .Ki.J CO.
July 28th,1924.
City Council,
Clerriont, Florida.
Gentl6men:
For 448, 300.00 6 . nds to be le ally is:. ued b-* the Ci :.;r of
Clermont, Florida, for various purposcs, •:7=.11ci_ c ,c to
be dated July 1st.1024, to beer interest ate tho rc:te of 3,,
per annum, payable serii-annualy at the American Lsch�1n:-,.
National Bank of New York City, 48 to be i S: ueu in derv: ,i:1., t-ions
of �1.030.00 and one of 0300.00 as provided you official of
sale, to mature in Thirty years from d<Lte theroof
option o:L' prior payment, de will pay y ;u. a ,on delivery to us
thou theSt,..to Ban'. of Urlande and Irust Co.
48,300.00
.Aak
"'-iis bid uk,on information c.)ntrined in Finahcial Statement
hereto for furnished and submitted With the understandin;
thvt prior to or at the time of said :ponds, we will be
furnished with the unqualified aprovin" opinion Messrs
Caldwell and ha ., and Attorney's of Yves 'York City as trell
as the transcript upon :-fhich this opion is based.
• 6i.e attach herewith our Certified Check Lo 239
for y-2500.00 which check is t o be held by you pending-,
corn,-)li Dance with the terms of th&s bid by us and if ae do not
fulfill our a -, -•rements made herein, said check is, to be
forfeited to you ^s full liquidod dama:;es.�:: In the event
Viat this bid is rejected or that you are unable to make
dc-livery of said -on,±s as above provided within a reaoonable
time, said check is.to be returned to us at once,
hespectfully submitted,
',.:'ri ,,ht :Jarlow and Co.
By H.G. 4alkin-7,
The above bid is hereby accepted by the City Co ncil
r_t Clermont, Florida, at a laetful meetin3 thereof, held this
28th day of July,1924.
H.L. house.
Prc:s, City Council -'--
Attest;
Edythe T.I. Ltzrodt.
Clerk:
There bein-7 no further business, the meetin;;
on motion duly made and seconded, was adjourned to meet aain
upon the call of the President.
Attest;
Cr C erk.`�
Approved;
PresIdenE Ci'- F-, C`0Izn`ci7.