HomeMy WebLinkAbout04-21-1925 Regular Meeting
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MINUTES OF REGULAR ADJOURNED' MEETING- OF' THE:' CITY'
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COUNCIL CITY OF CLERMONT HEr,D APRIL. 21-,1925. ,at S O'c1\)ck.
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The meeting was called to order by the President, H.C.Brown.
The clerk being absent City Atty. B, W Wait acted as Secretary.
All members of the Council present.
The President stated the object of the meetiRg Viz, to meet the
represenatives of Layne-Southeast... Company to d1scuss their
~~avel wall well propos1tion. Messers Reaves and Wr1ght then
talked to the council at len~~t on their proposal,
Dec1sioD on the matter was deferred and the Council adjourned to
meet on April 28, 1925, at 8:0.0. P. M.
Approved
President, ~mity Uouncil
At t es t: ':;. "- /jJ.1/\.
Qi ti Clerk.
ADJOURNED MEETING.o.F APRIL 2Sth,1925. SO'clock.
Present: H. C.' Brown, pres;, C. E, 'Tabor, Andy Aasheim ,Wm.Bess,
Isam'Blackbur.n, Councilmen, WN McKinney, Mayor and B.W.WAIT,
Atty. -. I'
Mr~ Brown p,e8ided over the meotiBg,and B. ow. Wa1t acted as Sec.
Mr. L. C~ ~edV, represent1ng Wright War10w & Co.~subm1tted
the lollowing offer to the Council:
Or lando, Fla.,
Apr1l 2S,1925.
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Honorable Mayor &'C1ty Council,
Clermont, Florida.
GeDtlemen:
, · OWe understand that your city w11l issue approximately
$250,OOo.fo.o Bonds w1thin the next year, this due to the great
amount 01' 1inprov~rnen~s and developments be1ng made in Clermont,
which w111 a182 result 1n your hav1ng an assessed va1uatioD of
approximately ,1,750.,0.00,1'01' 1925.
It has been our pleasure practically s1nce our firm
or1ginated to handle allot the bonds the city of C1ermo~t hka
issued, and we understand that you are 1nterested in securing
a gnaranteed'price on bonds to be issued in the above period,
thus insuring yourselves against any violent market f1uctuatio..
In'this connection we will agree to guaran~ee the city
e::.b:ttlOof $1,0.0.0. tor each $1,0.0.0. in legally 1ssued 6%,with any -
accrued interest,bonds sold ~uring this time,and to pay for th.
apprOVing opinion of Caldwell & Raymond, pay local advertising
as well as advertising in the Bond Buyer, if desired, and tuther
1'urnished you with the blank 1ithogI'aphed bonds.
Our charges for this. service will amount to 2t% of the iar value
of bonds issued in the amount of tlo.o.,Oo.O or over, and 22 per cent.
tor bonds issued in lesser amountt. ' .
. : OUr'fin~ncial connecti9ns are ~uch that we are always
in clos~ touqh w~th ~he bpnd market, ~nd we beli~e we can ren~er
a real sel~ice to you in consulting with you as to the best time
to market your bonds,as'well ad making you the guaranteod price
above ,and ful~nishing you the other services mentioned. .
We hope'that we may have the pleasure of handlil1g
thlsbusiness tor.you.
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Respectfully submitted,'
Wright, Warlow & Company
By: L. C Leedy