05/12/1945
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1i;:,:;>',/',.',':,';',':.::' "1,854,000. O:1ty. ,~t Olearwater, F].or1.da, refunding onds dated JanuarY' 1,
f'}:.:{::,::~:..'::;>';"::;":::" 1944' and more hlly desoribed ln ssl d notice, bearing interest at the rates
iN:~f.:;:-:!\;;;:j~,;~~~-;i'>'~;,;.:,;, proscribed bY' the notioe and to pesr therefor One Million Nine' Hundred Seven-
~~}E;~~~~~?W;S;1H~\0:~'lf;~,~~~e~ ~~~fl,ld/l'woR\1D.dred Seventy"-s8Ten and 02/100 Dollars '.1,917,27'1.02)
""'" ":1;:i~;~(5:'::'~ ,:1>e~~~::_,..\i;;t~~, ~,a~,rJt,.lO~.413 per IlOO. par va1\1eth~3!eot t together wl;1;h
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Ci ty of Clearwater FlDrid a
City Commission Minutes May 12, 1945.
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The City Conunlssion met in Special session et 12 o'clock noon May 12, 1945
for the purpose of receiVing bids for sale of ~1,854,OOO City of Clearwater Rerunding
Bonds :tixXfl. The Followl ng members' ,were, present:
Gao. rt. Geavy, Mayor-Commissioner
J e sse G. 3!111 th
S1.1rnn or Lowe
Dan L. St~ut6mire
Herbert Grice.
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The two bids received were os follows: The CrU:rJr~()r C~)ml)Uny
ShieJ.cls &. Company
lOJ.?~9
l'O)...41~
It waf i~loved by1ir. ";1:1l.t11 ~!'?C):L(led b~r Illr. Lowe end c€lrriecl unanimousley that
the bid of Shield send Company be ace ept ed . and tha t the following reso1u taion be
adopted: See pag~ lOa A. .
Below 1s set the bids as menti0n.:3d above:
,./,
Office of Fresiden~
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THE CRu.nmR COME>.ANY
(Incorpor ated)
INVESiMENT SEOURITIES
First National. Bank :Building
Orlando, Florida
May 12, 1945
Honorable City Comndasion of the City of
Clearwater
F1erida
,.
Gentlemen:
We ~erepy Offer to purchase the $1,854,000.00 par value City of Clearwater,
Florida, Refunding Bon.ds o,f 1944, as advertised in the legal notioe appear-
1ne in the May 4, 1945, is'sue of the Clearwater Sun. The bonds ar~ to .be
dated cTanl1!3-ry. l~ 1;944, bear interest and m.ature in acoordance with said
Notioe, and this ofter is made subject to all of the terms and conditions ':;
Be~ out in the above mentioned legal notice, and a oOPY of said notioe is
attaohed hereto and ~de a part hereof.
We hereby offer and agree to purchase said $1,854,00'0.00 par value of bonds,
at the ~rice of One Thousand Thirty-Two Dollars and eighty-nine cents
($1,032.89)" plus aocrued interest for eaoh $1,000.00 par or prinoipal
amount or bonds..
Thiere is attaohed hereto oertified oheck' in ~he amount of .3~,080.00, pay-
able to the City of' Clearwa tar, Florida, as liquidated dem.ages in the event
'the bonds are awarded to us and 'We fail to fulfill end oarry out the terms
ot this bid. In the event this bid is not aocepted, the enolosed oertified
oheok is to be promptly returned to us. In the event this bid is aooepted
by you, said cheok maY' be either applied to purChase price at the time ot
delivery of the bends or returned to us upon our having acoepted delivery ot
and made payment for the bonds in accordanoe with the tems of this offer.
Respectfully. sUbmitted,
. TH:E ORUMMER OOMPANY
:By, W. J. Heredi th
, President
WJM
RB
(Signed)
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Hembers .
RewYork Stock Exohange
Oahu V. Torrey
Investment Securities
norid.e ~ational Bank :Building
St. Petersburg , Florida
New York, N. Y.
6'he Honorable Ci tY' Oommission of
ity of Ole arwater
City Ra11
Olearwater, Florida..
the
Dear Sirs:
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We have alreadY' deposited wi th. you a 0 er tified che ck to the 'order otBThe
Kity 01' Olearwater, Florida, tor 037"Oso1 being 2% ot the amount 'of ends
bid tor, to be applied as provided in said notioe.
Yours very truly,
SHIELDS Be COMPANY
STRANAKAN. HARRIS & COMPANY, IN".
COHO & rroRREY
SULLIVAN,NELSON &. GOSS, INC.
LEEDY ~ WiEELER Be COMPANY
MUNIOIPAL BOND Be INVESTMENT 00.
THE ROB:rN'SON-HUMPHREY OOMPANY
HERBERT J". SIMS & OOMPANY, INC.
(Signed) FerBrl;~ ~o~~Jr.
.Albert Eoberts Jr.
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SHIELDS Be CQMPANY
Members New York Sto ck Exohange
44:WALL STREET
NEW ,YORK 5, N. Y.
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May 7, 1945
4:'
Mr. F. L. Hendrix, City Manager
Oi ty Hall
Olearwater, Florida
Dear Mr. Hendrix:
. Enclosed is our cel'tif'Sed' check in the amount st $37,080.00,
being'the eqlt1valent ot 2% ot the face value' of $1,854.000 ity ot CJ:ear-
Water, Fla. ef\1nding bon-dsot 1944 whioh we have asked you ,to advertise
tor pUblic sale to be b3ld on Saturday-, MaY'12, 1945, at- 10:00 A. M.
This cheok is being forwarded to you in accordance \uth' para-
graph 9 ot the gareement and the amended agreement made wi th the C1 ty ot
Olearwater on November 1, 1943 and ~arob. 2l>, 194:5 respeotively. It is
~rovided in that paragraph ~that: the oheck is to be retaimd by the City
as tullliquidate-d damages, in case the -City tails to reoeive a bid ot
not less than 102 tor the- bends. If we are the successtul bidder" the
check is to be applied in part payment of the purChase price.- It the
bonds are awarded to anoth8r bidder, it is to be returned to us, and it
no' bid of :L02 or higher is made, the City maY' retain the check as 'lull
liqUidated damages.
This check will also serve as our good taith deposit- in bidding
tor the bonds in accordanoe with. the terms set forth in the advertisement
ot sale.
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Will you kindly, in due oourse, aCknowledge reoeipt ot theoheok
in accordance with the above.
Yours very truly,'
Shield s & C anpany
Stranahan, Harris & 00. Ino.
Oohu &. Torrey
, Sullivan.?.. ,N'elson & Goss, Inc.
Leedy, wneeler & Co.
Munioi})al Bond & Investment Co.
The Bob! yso~-HumPhcey Company
Herbert . ims Be o. Inc.
(Sjgned) By
Si~ature illigeble.
Shields &:. Comp:lny
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There being no further business to cone before the Beard the meeting
was' adjourned.
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RESOLUTION AWARDING $1,854,000 REFUNDING
BONDS OF 1944 OF THE CITY OF CLEAR\\fATER,
FLORIDA, DATED JANUARY 1, 1944.
BE IT RESOLVED by the City Commission of the City of Clearwater,
llor ida:
Seotion 1. That advertisement was duly made oalling for bids to
be'reoeived until 10 o'clook A. M. Eastern War Time, May 12, 1945, for
$1,854,000 Refunding Bonds of 1944 of the City of Clearwater, Florida,
dated January 1, 1944, consisting of $1,647,000 Refunding Bonds of 1944
Series A. $105,000 Refunding Bonds of 1944 Series B, and $102,000 Re-
funding Bonds of 1944 Series C, at which hour bidding was olosed and
the following bids were found to have been filed and to accord in all
respeots wi th the terms of said advertisement, eaoh bid offering to
pay aocrued interest from January 1, 1945 and enolosing a duly oerti-
field oheck for 2% of amount bid:
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BIDDER
PRICE
103.4l~ and acorued interest
103.289 and acorued interest
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Shields & Co.
The Crummer Co.
Section 2. That the highest prioe ofrered for said bonds was ~10J.41J
and aoorued interest, and that said price was ~ffered by Shields & Co. of
New York.
Section 3. That said bonds are hereby awarded to said Shields & Co.
at the said price.
Section 4. That the checks of the unsuccessful bidders shall be
returned immediately.
...:.,Seotion 5. That this resolution sha 11 be in full foroe and effect
from and after its passage.
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City of Claarwater Flarida
City Cgmmi,ssian Minutes IrTay 12, 1945.
The City C�mmissian a�et in 5pecial sessi�n at 12 �'clock n�on Il4ay 12, 1945
for i:he puxpose o�' receivin� bids for sale �P �:1,854,000 Gity aP Clearwater Refunding
Bands �xxx�. The F�llow?ng members were present:
Gea. i�. ueavy, N:a;/or-Co�missioner
Jesse G. S�ith
SumnPr Lo�ve
Dan L. St�utamire
Herbert Grine_
ribsents ilone.
The tv�o bicis received were �s follows; Th� �ru:�-.,�;r C�madn�� 1.��,�"o
. .�hields �C: Campany 1'O�t41�3
It wae :��ved by P:r"�r, „r,�i;}? .�n�:,;�;ed �y T�,r, Lot�v and cerried unaaim�usley that
the bid af Shields and C�rapany be accepted. and tY+a,t the following resolutaion be
adopted: See page 108 A.
Bel�w is set the bids as mentio7au sbovet
` THE� CRL�A'R�� COMPANY •-
( Incorpor at ed )
INVES731ZENT SECUR?'TIES
First Natian�l B�� Building
. Orlando, Floricla
Office oP President � -
, May 12, 1945
Honorable City Commission of the �ity of
Glearwatsr - ' ` -
F1Drida
Gentlemen•
We hereby offer to purchase the �1�854,000.00 par value city of �learwater,
Flor'ida, Refunding Bonds of 19�, as advertised in the legal notice appear�
ing in the May �, 1945, issue of the �leaxwater Sun. The bon.ds are to be
dated �anuary,l, 1944, beai° interest a.nd mature in accordance wkth said
Notice, and this ofPer zs made subject to all oi the terms and eonditions .
�et..out in the above mentioned legal notice, and a Copy aP said notiee is
attached hereto and made a part hereof.
We hereby of�'er and agree to purchase said �1,854,000.00 par value of bonds,
s:t the price oP �ne Thausand Thirty-Two Dollars a�d eighty-nine cen�s
(�1,032.89), plus accrued interest for each �1,00A.00 par or princ+ipal
smount of bonds.,
Thiere is attached hereto cer�ifie� check� in the amount of �37,OB0.00, pay-
able to the City of �leax�vater, Flurida, as liquidated dam,ages in the event
the bonds are awarded to us and we iail tc� ,�'uZ£ill and carr� out the ter�3ls
of this bid. In the event this bid is not accepted, the anclosed certified
check is �o be promp t1y returned to us. In the event thi� bid is accepted
by you, said cheek may be ei'ther appliad to purchase priee at the time of
delive�°y of the bca�.ds or returned to �� upon our having accepted delivery of
and made payment for the bonds in aecordanae �vith �the tenns of this offer.
RespectPully«submitted,
� THE CRUI���IER: COM�'ANY
(Signed) By, W, J, �redith
W�� Pre si dent
RB
ll4emb ers
New York Stock Egchange
. Cohu �. Torrey
Investrne�t securities
Florida ational Bank Building
St.Fetersbw^g, Florida
New Xork, N, Y,
The Honorab].e City Commission oP the
�ity of Clearwater
C it g �all
Clearwater, Florida.
Dear Sirs: °
Su�jeat to the provisi�s of the anneyad Notice of Sale, t+�ich is made a
�art of this bid, wo offer to purchase all� but not y part, oi the
1,854,000. CitS* of �learvvater, Florida, refunding �onds �iated January 1,
19�4 and more fully describ ed in sai d notice, bearing interest at the ratas
presoribed by the noticE� and to p�y there�or One Million N3.nQ•H�dred Sgven- �
teen Thousand �vo Hundred Seventy-sevea and 02/100 Aollars•�1,917,279.02)
be3ng at the rate of �p103.413 per �100. par �a].ue thereoP, togPther v,r�th
aecrued intorest from J�uary 1, 1945 to date of` delivery,
!a7
,
We have already' deposited vvith �rou a Qertified checit to the �order of The
l�ity �f �lsarwater, �lorida, "or $�37,,Q80� being 2� of the amount of $onds
bid for, to be applied as �roviaea in saia notioe.
Yours verg trul�,
SHIELDS & GOMPANY
STRANAFIAN, EiARRTS 8c COr1LPANY� INC.
C OHU & T6RRE'Y
SULLIVAN,NEL�UTd & GOSS, INC.
LEIDY, WFi�EI�ER & COIdPANY
I�iJNICIPAL BOND Fc INVES`IMENT C0.
THE ROBINSON-HDR+IPHREY' GOMPANY
iiERBEE2T J. SIP�S 8c COl;�?'HNY, lI:C.
BY COHU Fc TORREY
(Signed) Per Albert xoberts �re
Albert RobeTts Jr.
SffiELDS �4c CQMPANY
Memb ers New York Sto ck Lachange
44WALL STRE�T
NEW YORK 5, N, Y.
' May 7, 1.y45
Mr. F. L. Hendri�, City Manager
City Ha11
Clearwater, Florida
Dear �r. gendrig•
Enclosed is our eerti�ied cheek in the am.ount o� �p37,080,00,
being� the ec�.ivalent oP 2� of the face va�ue of �1,854„000 City of �lear-
;�ater� Fla. eftznd.ing bon�cis o� 1944 which we ]�ave asked you -to advertise
for public sale to be held on Saturday, �ay 12, 1945 at� 10:00 A. M,
This check is being forwa�ded t� yau in accordanGe with para-
graph 9 of the gareement and the amended agreement made with the �ity oi
Clearwster on November 1, 1943 and �arch 26, 1945 respeotivelyv �t is
grovided in that paragraph tha�G, the check is to be retained }�y the �ity
as Pull liauidated damages, in case the •�ity fails to receive a bid oP
not less than 102 for the=bonds. I� we are the sucee5aPu1 biddery the
�heck is to be applied in part payment of ti�e purchase �rice.• If the
bonds are awarded to an.oth�r bidder, �.t is to be returned to us, and iP
no bid of �.02 or higher is made, the �itg may� retein the ch.eck as full
liquidated damages.
This check wi11 also serve as our good faith dsposit+in bidding
for the bonds in aceordanee with the terms set forth in �Ghe advertisement
of sale.
Will you k:Lndlg, in due cours8, ackn.owledge � eceipt of the check
in acccJrB:anee vrith the above,
Yours very-trulg, .
Shields & Compang
S�ranahan, $arri.s & Co. In�,
Cohu � To ey
� Sizllivan,�'elson & Goss, Inc.
Leedy, Wheeler & �o.
Murbicipal Bond � Inves+me�� Cao
4 The Robinson-Humph ey Company
Herbert J. Sims & �o. Inc.
(Signed) By Signature illigeble.
Shields & C��n�
The�e being no Purther business ta come beY�re the Bor,rd tne meeting
was adj�urned, •
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L��J�" Mayar-ComznissioneT '
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Cit Auditar & Cleri�.
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RESOLIITION AWARDING �1,854,000 REFiJNDING
BONDS OF 1944 OF 'IIiE CITY OF CLE.AR�"ATER,
FIARIDA, DQ,TED JANUARX 1, 1944.
BE IT RESOLVID by the City Co�3.ssian of the City oi' CZr�.rwater,
�ioriaa:
Seoti�n l. T�at advertisement waa duly made calling fo,r bids to
be�.reesive3 untiZ 10 o'clock A. M. Easterh 1'�ar Time, �ay 12, 1945, for
�1,854,000 Refunding Bonds of 1944 oP the Ci�y op Clearv��ater, Florida,
dated January 1, 1944, consisting of �1�647,000 Refunding Bonds of 1944
Series A, �105,000 N.ePunding Bond.s o� 1944 Series B, an��. �102,Q00 Re-
func;in,g �onds oi 1944 �eries c, at vrhich hour bidding was cl.ose�. and
the iollowin� bicls were faund to have been filed and to accord in all
respects with the terms oi' said advertisement, each bid oPfering to
pay accrued interes� from January l, 1945 and enelosing a duly cert�.-
field check for 2f of amnunt bid: ,
BIDDER PRICE
Shields & Co, 103./.�1� and accrtted interest
The Cru�mier Co. 103.289 and accrued interest
Section 2. That the highest price offered for said bonds was �I,63,L�Z.�
and accrued interest, and ;hat said price was Bfiered by Shields � Co. of
New York.
Section 3. That �aid bonds are herebq a�rrarded to said Shie],ds & Co.
at the said price.
Section 4. That the checbs cf the unsuccessPul bidders shall be
rettmned imsediately.
..Sec�ion 5, That �this resolution shall be in full Porce and effect
frors and after its �assage.
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