12/28/1936
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MINUTES OF THE MEETING OF-TFrE-v~-r!.--JOMMISSIOU
DECEMBER 28th, 1936.
The City Commission of the City or Clearwater, Florida, met on the
above date, in regular meeting assembled, with the following members
present:
R. E. Green, M~yor-Comnissioner,
R. L. Baker,
L. A. Marsh.
The following, letters were read:
DeoenIDer 23, 1936.
Honorable Board of City Co~ssioners,
City of Clearwater, Florida. .
Gentlemen:
..
Your Board has just passed a resolution outlining ~our future tax
progrwm, particularly in regard to collection of delinquent taxes and
improvement assessments. Your resolut~on provides for oertain discounts
on taxes and assessments and further provides that interest ooup~ of ~uly l~
1934 wnd prior thereto, from the City1s Bonds or Tax Notes,for which these
coupons w~ll be exchronged under the Refunding plan, may be used at their
face value in payment of the face amount of the 1930 and prior taxes and
improvement assessments.
Our fi~ proposes to purchase these ~oupons and/or tax notes for the
purpose of re-sale to property' owners to b~ used in payment of their taxes
and assessments. We propose, as ~ar as p06Jible, to purohase all of these
outstanding coupons. Our idea is to co-ope.'a te with the City Government
in the use of these coupons and/or tax note~ in settlement of taxes and
assessments for which they may be used. In ~~de~ to do this, we are plan-
ning on maltin.g an active ca.mpaign by the use of newspaper adverti sing" m.a:11,
telephone. and persona~ contact vlith the property owners for th e collection
of these delinquent taxes and assessments.
You can readil~ see that our program calls ~or the expenditure or
considerable sums of money, both for the pUl'~hase ot: the coupons and the
expenses of such a campaign. We can be justified in doing th~s only bl
receiving in turn the complete co-operation of the City Government. We
therefore ask that your Board grant to our firm the exclusive right to
maintain in the City Auditor's Department. Tax Credits composed of coupons
and/or tax notes, agai~t which we may issue to property owners credit mmm-
oranda to be used in pa-yment of their taxes and assessments. Vie further
request that the City grant us its exclusive co-operation in the purchase
of these coupons, as and \Vhen theJ are received by the City for redemption
or e~change, and that the Board grant us, insofar as JOu are able, the
exclusive right to handle and deal in these coupons and/or t~ notes dur-
ing the continuation o-r ~our present program.
The advantage to the City of: this arrangement will be that so far as
these coupons and tax notes are concerned. they will largely have to deal
with only one Creditor. instead of several thousand. Also, we believe that
the campaign we propose to follow will resalt in a much greater volume of
tax pa'YDlents than would be otherwise made. This is of oourse to our ad-
vantage. as we would thereby dispose of our tax notes mo:re quicklJ1.
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, The actual mechanics ot: our plan have been ctl.scussed in detail w1th
the City Auditor, the City Attorney and Comndssioner D. O. Batohelor. and
we believe has the approval of all of these gentlemen.
For JOur information, we are the only firm of licensed Bond Dealer,s
located in the City of Clearwater, and our idea in asking for the ex-
clusive rights above rererred to is primarily to protect our investment
through e11m:1nati~Jn. of competition .rrom outside dealers. We w1sh to
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December 26, 1936
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assure you that i~ our request is granted, we will oooperate in every way
possible with the Board, and the City Offioials for the beat interests of
the City.
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Respectfully subttdtted,
Alley, Rehbaum, & Capes, Ino.
By Wm. L. Alley, Pres.
WLA:AT
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Honorable Board of City Commissioners
City of Clearwater, Florida
Gentlemen:
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This letter is written to supplement ourletter of Deoember 23rd,
addressed to the Boa~d, and is for the purpose of explaining the detailed
meohanics of' our proposed plan covering the hardling of past due Bond
Coupons and Tax Notes.
We propose to purchase at 20t all ooupons as they are sent in by
the bondholders with their bonds for exchange, whether they have been
sent to the First National Bank or to the City. We would also purohase
any coupons that we can find in the open market at this same price. The
City would then issue to us tax notes :ror these coupons. These tax
notes would be kept by us on deposit at the First National Bank, and the
bank would keep the City Auditor posted as to the amount of these tax
notes. These tax notes would be deposited ~th the First National Bank
with instructions :rrom us that they would be delivered to the City Audi-
tor on payment by him at 30% of their face. '
When taxes and/or assessments~ for which these tax notes can be used
U11der the terms of tha Refunding Plan, are paid by the property owners,
whether tbrOu.gh us O~ directly to the City at the City Hall, the money
so collected would be used by the City to purohase these tax notes from
US at the above rate. This would hold true regardl,ss of the disoount
rate in effect at tbe time taxes were paid. For instance, after the dis-
oount rate ia changed on certain taxes and assessments on April first,
from 70 to 65# thereby requiring payment by the property owner of 35~
on the dollar, the amount of money collected by the City at this or any
other rate would be entirely used for the pur~hase of tax notes from us
at 30~. This automa.i..ically fues the gross spread to us on these tax
notes at 10 points. This is in accord with the recommendation of the
City Attorney and Commissioner D. o. Batchelor.
We would maintain with the City Auditor a supply of orders for
these tax notes signed by us in blank to be filled out by the City
Auditor with the name of the tax payer and the amount of tax notes to
be used on any particmla.l' settlement by the tax payer.
As stated in ou~ former letter, we will use ever7 effort to co-
operate with the City for the collection of past due taxes and assess-
ments, and will offer our services ~o the property owners to the fullest
extent, a:1nce it is na'turally to our advantage as well as to the advan-
tage of the City to affect a oollection of taxes as rapidly as possible.
Respectfully submdtted,
Alley, Rehbaum & Capes, Ino.
By Wm. L. Alley, Pres.
WLA:AT
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December 22nd, 1936
To the Mayor-Con~lssioner and City Co~sa1oners
of the City of Clearwater, Florida.
Gentlemen:
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This is to advise that I understand in detail the proposed arrangement
to be made between the c~ty and W. L. Alley ~ompany, for the hwndling of
interest ooupons and/or delinquent tax notes. Mr. Alley has discussed his
p~position with ~ in detail and I have also discussed the same with the
city Attorney. My conclusion 1s that the Conmiasion should aocept Mr. Al-
le"3' s proposition and. allow him to deal in the interest coupons and/or de-
linquent tax notes, at a margin of not over ten points.
The success of the refunding plan depends upon the quick retirement
of these delinquent tax notes. 1w. Alley's Company, in order to obtain
the delinquent tax notes will have to invest a considerable sum of nIDney,
they will then be anxious to have tne tax notes retired and will co-operate
with the City in its new tax progr~.
I believe that Mr. Alley or his Company should be gi~en the exclusive
rights to handle this matter, so far as it is possible for this Oomndssion
to provide. Unless Mr. Alley is given exclusive rights, then of course the
proposition will not be sufficiently attractive for him to undertake this
matter.
f 'tJ
I am pleased to learn that you have passed the Resolution
which I had prepared concerning the future tax program of the City. I
hope to be with you gentlemen again in the very near future, as soon a.s
my health permi ts.
With best wishes and kindest regards to all of you, I ~
....,.
Very sinoerelyyours,
D. O. Batchelor.
DOB:HS
The following Reso1ution was introduced by Mr. Baker:
WHEREAS' the First National Bank of Clearwater, Florida, bas purchased
from said City gas revenue oertificates, ag~egating the principal amount
of $12,000.00, being numbered 68 to 79~ both lnclusive, bearing date 9f De-
oember 1st, 1935; and
WHEREAS, The First National Bank of t1d.s City in making said purchase
haa requested that said gas revenue certificates be aocepted by the City as
security for any deposits of city runds at said bank,
NOYJ THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF
CLEARWATER, FLORIDA: in regular meeting assembled:
That the said City of Clearwater hereby agrees with the First National
Bank of t~8 City to accept as security, at par value, for anydeposits made
b~ said C~ty o~ City funds at said bank gas ~evenue certifioates owned by
said bank, dated DecenIDer lst~ 1935, be1~ numbered 68 to 79, both inolusive,
and aggregating the principal amount of $12~OOO.OO; provided, however, that
the said gas revenue certifioates shall be at all times equal to the amount
o~ money depo8~ted by the City with said bank.
Passed and adopted by the City Comndssion of the City of Clearwater,
Flor~da~ this 28th day of Dacemb~r A. D. ~935.
It was moved by 1~. Baker, seconded by Mr. Mars~, that the sald
reso~utlon be passed, and upon roll oall ~e following vote was pOlled:
Ayes: R. E. Green. Mayor-Commissioner,
R. L. Baker~
L. A. Marsh.
Nays: None.
Absent fim not votlng: D. O. Batohelor and J. A. Barry.
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Whereupon, the Mayor-Commissioner deolared said resolution passed
and adopted, and signed the snme.
It was moved by Mr. Marsh, seoonded by Mr. Baker and carried, that
the proposition contained in Mr. Alley's letters be aocepted, and the
City officials authorized to act aooordingly.
Moved by Mr. Marsh, seoonded by Mr. Baker and carried, that the
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City Manager be authorized to rent the auditorium in the City Hall to
the Sun Diet and Health Foundation for a series of leotures.
Moved by Mr. Baker, seoonded by Mr. MarSh and carried, that the
plat prepared by the Florida Power Corporation, showing the lines owned
by the Power Oompany serving oity properties be acoepted.
Moved by Mr. Marsh, seoonded by Mr. Baker and carried, that the
Oity assume the cost of Group Insuranoe of employes over the amount
of 50~ per month each, and that all employees be urged to take the
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Attest:
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Group Insurance.
Moved by Mr. Baker, seoonded by Mr. Marsh and carried that 20%
discount be allowed on lots 6 and 7 Blook 25, Belleair.
Moved by Mr. Baker, seconded by Mr. Marsh and carried that a J.O%
discount be allowed on taxes of W. H. WOlfe, on 'the Northwest Corner
of Garden and Haven, on the Northeast Oorner l ~uth Fort Harrison
and A street, and lot owned by him one block west of Orangewood.
Moved by :M~. Baker, seoonded by Mr. Marsh and carried that a
reduction of $31.50 be allowed on the Mack Dixon property owned by
Roselyn K. Donnell.
Moved by Mr. Marsh, seconded by Mr. Baker and carried that a 25%
reduction be allowed on the 100 acres outside the,oity limits, as po~
applioation of Mr. Randolph (OJ.ose to Mr. Baker.)
Moved by Mr. Baker, seconded by Mr. Marsh and oarried that the City
Manager be authorized to 8e11 Lots 43 and 44 in Block D, Bassadena,
for $475.00 net.
There being no further business, the meeting was adjourned.
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STATE 0F FLORIDA
COUNT"- O~' J?L,:E1Lil.:;)
C ['r..- ',)li' CL E:...R: j.i.ll' !!;R
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".;'le,
L.
! :arsh and. D.
3atchelor,
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Green,
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dr) solemnly swear tJw.t we \':11.1 supp()rt (l :.cl l)rotect the
constitution 01' the Uni ted states of' ,\.:.leric:..~ and its
G;.)v e~'1l;,10:'::1 t
,L;C Vie :.:itn.to-::.f FloriCa D.C:-:l.i...:it ~~ll ener.:lies,
domestic anu foreien; anu.. tt"t \'Ie \'iill bear true f:li.t:l,
loyal t:.' :::t:1(l :tllegini1ce t,:) t~e Su'!:H;) , '~!l d t~ in. t VIe are
entitled. t) hol(l of:" L co U!l::.er t:'lO Constituti.on and Laws
o:f the State
)~ Florld~; and that we will perfo~n ~ll
of' the d.uti e8 of tl18 office of: ::i.l::or-Commissionel:' and
Cits Commi':.i;:;ioll.Cl'S, res},ectivel:y, .'.)f the Cit-
of C1 er.::.r\'/a tel' ,
Florida, upon which we ~re ~bout to enter, so help us God.
cR,~.)J~.
L:!l: or-Commissioner
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CommisGioner
SWlJrn t.) arJ.d. subscriber: b'.=:fJre me this the 18th da;.: of
Januar;r, 193'7.
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