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Home My WebLink About04-28-1925 RegularMeeting , "-,' u . ,,' .'~', \ \ \ MINUTES OF REGULAR ADJOURNED' MEETING- OF' THE:' CITY' 0:- COUNCIL CITY OF CLERMONT HEr,D APRIL. 21.,1925. ,at S O'c1\)ck. ~.. ~. 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. ~ ~ 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. . I ._ .-.J'V- ,"- _ J Respectfully submitted,' Wright, Warlow & Company By: L. C Leedy : . On motion duly made and seconded, the said propos al .aK; olf Wright Warlow & Oompany was accepted. Thereupon, on motion duly made and seconded, the . meeting adjourned. to meetagain upon the call of the Pnesident. Approved: II President, Oity Oouncil Attest: Oi ty Olerk. 'I ., ,.... ,~ ~ ., ~ ~ uAMES N.WRIGHT,PRESICENT T. PICTON WAR LOW, VICE-PREST. GEO.H STRICKLAND,TREASURER LOOMIS C.LEEDY, SECRETARY ~~~~i~ Investm.enl l3a~....I<.e:r.s . . MUNICIPAL AND CORPORATION BONOS REAL ESTATE FIRST MORTGAGES .FIFTH FLOOR STATE BANK BLDG. Ol~land.o, l"lorida April 28th, 1925. CORRE.SPONDENTS .JAMES N.WRIGHT & co. . DENVER,COLO. ~. Honorable Mayor & City Council, Clermont, ~lorida. ~ Gentlemen: . We understand that your city will issue approx- imately ~250,000 Bonds within the next year,. this due to the great amount ~f i~provements and developments being made in Clermont, which will also result in ypur having an a~sessed valuation Of approximate']:y $1,750,000 for 1 9 25 . It has been- our pleasure practically since our firm originated to han~le all of the bonds the city of Clermont has issued, and we understand that you are in- terested in securing a guaranteed price on the bonds to be issued in the above period, thus insuring yourselves against any violent market fluctuation. In this connection, we will agree to guarantee the city a bid of ~l,OOO for each ~1,000 in legally issued bonds sold during this time, and to pay 'for .the approving opinion of Caldwell & Raymond, pay for the local advertis- ing as well as advertising in the Bond Buyer, if desired, and further furnish you with the blank lithographed bonds. Our charges for this service will amount to 2i% of the par value of bonds issued in the amount of $lQO,OOO or over, and 2t% for bonds issued in a lesser amount. . 6f;~ d4 o--~-f~ j; ~ Our financial connections are such that we are always in close t~uch with the bond market, and we believe we can render a real service to you in consulting with you as to the best time to market your bonds, as well as mak- ing you the guaranteed price above, and furnishing you the other services mentioned. we hope that we may have the pleasure of handling this business for you. Respeotfully submitted, -------------------------------;;~:::~~~~- ~he above proposition is hereby acoepted this 28th day o~ April, 1925, by order of the.City Uounci1 of Clermont, ~lorida. Attest: Mayor alerk , I \\' ..' PRO C L A ~ A T ION . ------------ NOTICE OF ~~CIAL BOND ELECTION. .. '" rimlBEAS, The vi ty Counclil ot the City of Clemont did by that certain Ordinance entitled: ".An Ordinance Providing tor the Calling and Holding ot an Elec- tion in the City ot Clemont, a Uunicipal Corporation, in the County of Lake and state of Florida, for the Purpose of Authorizing the Issuance of Negotiable Coupon Bond s ot the said City of Clermont, for the f'ollo"ving Purposes, to wit: Sixty Thousand Dollars (~60,OOO.00) f'or the Purpose or Pur- chllGing and Constructing a Municipal Golf' Course;' Twenty-seven Thousand Dollars (Q27,000.00) f'or the Purpose of' Building a City Hall and Fire .Btation; Thirteen Thousand Dollars, (013,000.00) f'or the Purpose of' Pur- chasing a Fire Engine; aggregating the sum. of' One Eundred Thousand (~100,000.00) Dollars", passed . and adopted by the City Council of' the City of'Clermont on the 7th day of' July, A. D. 1925, signed by the Acting President of' said City Council, at- tested by the City Clerk on said date, sealed with the seal of the City of' Clermont, and approved by the Mayor pro tempore on the 7th day of' July, A. , - D. 1925, authorizing and directing the ~ayor of'the City of' Clermont to is- sue a Proclamation announcing and proclaiming a special Election to be held on the 5th day of' August, A. D. 1925, f'or the purpose ot determihing whether or not the City of' Clermont Shall issue its negotiable Coupon Bonds to the amount of' Sixty Thousend Dollars (060,000.00) f'or the purpose of purchasing and constructing a municipal golf' course; 'Ewenty-seven Ihousand Dollars. ($27,000.00) f'or the purpose of building a C.ity Hall and Fire station;. Ihirteen Thousand Dollars (~l3,000.OO) f'or the purpose of' purchasing a a f'ire engine; aggregating the sum or One HUndred Thousand Dollars ($100,000.00): . . Nml, THi5REFORE, 1, H. C. BROriN, Mayor E tempore of' the City of' Clemont, do hereby announce and proclaim that a special election will be held at the of'f'ice of' the Clerk ot the City of' ClermOnt, in the Fesler Building, in said City ot Clamont, on the 5th day of' August, A. D. 1925, f'rom eight o'clock A. ~. to sundo\vn, f'or the purpose of' deter.mining whether or not Bond s to the amount or Sixty Thousand Dollars (;';60,000.00) f'or the, purpose of purchasing and constructing a rmmiciapl golf' course; 'twenty-seven I'., ~-~ . - , Olermont, Fla. 4pril,27, 1925. Honorable Mayor and Council, Clermont, Fla. Gentlemen: I have the honor to report tba,t the street improve- ments provided for in the resol~tion of the City Council of the City of Ulemont, dated the ath day of July, A.D. 1924, have been completed, and tha.t I have accepted the S6.me 011 behalf of I the City of vlermont.. I find the costs of said improvements to be $49.92O.a2, as itemized below: O~x & Jernigan,aofttraetor& - - - - - - $45,877.57 A. P. Gibson, Engineering fee - - - - 1,126.40 B. Wofford Wait, Attorney - - - - - - - 530.00 Local advertising - - - - - - - - - - - 92.10 Interest - - - - - - - - - - - - - - - l,050.00 Inspection - - - ~ - - - - - - - - - - 30.00 Miscellaneous items, including advertis- inB, printing, sh,ping up parkways and other incidental expenses - - - - - - - 1,214.75 Total cost of street improvements 49,920.a2 4 Il\ha.ve the honor to report that the street improvements' provided for in the resolution of the City Uouncil of the City of Clermont, 'dated the 9th day of Septmmber, as amended by resolution dated ~he 16th day of September, 1924, have been ,com~"leted, and. that I hE.ve a.ccepted the same on behalf of the jCity of Clermo~t. I find the costs of said improvements to be $56,320.aO, as itemized below: ~ox & Jernigan, Contra.ctors - - - $50,319.64 A. J?Gibson,Engineering fee - - 1,237.46 B. Wofford Wait, Attorney - - - - ,,600.00 Local Advertising - - - - - - -'- - - 176.10 Interest - - - - - - - - - - - - - - - 1,200.00 Inspection - - - - - - - - - - - - - - 60.00 Miscellaneous items, including ~ertis- ing, printing, shaping up parkways and other incidental expenses - - - - - 2.727.60 T~l~ry~~ 56.320.aO I^have the honor to report that the street improve- ments provided for in ,the resolution of the City Council of th City of Clermont, dated the 6th day of January, A. D. 1925, have been co;;.pleted and that I he,veaccepted the same on behalf. of the City of Clermont. I find the costs of said improvements to be G71.61a.83, as itemized, below: Oox & Jernigan, Contractors - - - - - -- $64,397~96 A.P. Gibson, Engineer fee - - - - - - - 1,692'.07 B. Wofford Wait, Attorney - - - - - - - - 1,000.00 . Local advertisipg - - ~ - ~ - - - - - - - 15.5.40 interest - - - - - - - - - - - - - - - - 1,500.00 Inspection'- - - - - - - - - - - - - - - 195.00 Miscellaneous items, inc~uding advertis- i:mg,printing, shaping up parkways and other incidental expenses - - - - - - - - Total cost of street improvements -., Yours very truly, City Engineer. tit J' 2.678.40 71,618.83 .