02/10/1948
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CITY COMl.;I8SION l.1.&I~TI1JG
Februury 10, 19l1-8
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'l'he, City Commis::;ioll of the Oi ty 01' CleClrwCltor, Florida met in special
session at the City Hull 1n sulCi city, tit 11:00 'o'clock l..!.i. 'on It'ebruIJ1'y
10, 19hH. 'Ilhere \Iore lll'Osent J. O. Houze, 1.:Lyor-Corrw...iss ioner, IJres iding,
end the follo\'Jine Gor:llaisuionern: J. H. Grone, Herry D. .Jl.lrgeant, ond
Lolund:!.!'. Drew; E,lso Joyd h. J;:mnett, City l,:unbgor, Georgl'l VI. Smith, City
.uttorn~J', end 1!'I'tll1~: Cooley, Giijy Huditor 61n Olerlc.
.t..bsent: COJ:l,ji~J~ji,)IlOr Gu.J' L. J(:~n,ledy.
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J..ft/)r the meBtill13 hlJU tJ'.~(lll ciu1~' c\~lJ,:)c1 to Ol\.ler by the LLJ'OI', the lIotice
01' sllecilJl mOl:"l1.:!.ng VIUS l'aud L nd tl16 l,Ul';J:nw of the ueetine eXl)lGined by
tho 11eyor. i.fter bicln on t1w i~; lle 01' )'ov':nU'J c.:orti:l'icutGD hud b.Jcn opened
and l'f~cei vael by the COJ.u:iss ion, L ~Iro i1()SeJ Orelim, nc.: e en ti tIed:
7:00 J..:i"., FebrU(.,l~Y 10, 1948.
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Ordinunce lia. 553. .tdl Ordinuncupl'ovilling for the
sule Llld UVlUl'J 01' ;~;5~):;, ()OO l..uni u 11Wl Util.L ty .LiOVenUe
CortU.'icutds, ,.:>erio~J oi' 1S/11?, ~,nc1 !1'JkinC 8.i.)ccil'ic
, . r" )1 ' co t tll'" I1t.>],.".t 1" 4 · tl "" ' 1'--' t \)'"''1'''
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WDS introduced in writtell i\J1'1I1 Lnd C~US(j(l t;) O,j :cet.;u in rull. ~.f't'Jr clue
deliberation, it \'J[JS moved bJ" 0:.H:uais::;i):18r CrllIlc t..lld seconded by Conllllisf;ion,..;r
Drew thE.! t pro~)oso(l OrdlntJnc e ~ro. 5 ~3 be IHJ8:3 ';d 0 nit S :i:'irst reuding. Tho
vote on t he ~,loti on vnJs us f oll.:ms:
.Ll~/ e :
J. O. Bouza, J. ,d. Urene, Horry D. Scrgef:.nt, Leh.nd Ii'. Drew
lIay: HOllO:
On the llotion duly seconded 0 au unQui!ious1y c ,.l'1'i ed, the me eting
was th'Jl1 l'Gcessed until 7:00 o'clock .I. .L. of tl1'3 swne d~y.
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'lllw Oi1:.Y COIllltlis"ioll 0:1' tile 0itJ; of (jle.:n~, eJt.;l', J?lol'idu rec.:.Hlvcned
to c.:mtinuG i:1 sjJeciul session at th8 City ELl1 In seid city, 1:.,t ,/:00 o:';clock
1:'.1..:. on J!'ubrut,r~7 10, 19ho. 'lIt;: U '\'I':;ro l.ll'DSent J. 0. Houze, .i\it.yor-Go1!l!llissionor,
presidinG, c,nd the 1'o110\liJV: GOI.H,1issLJtlors: J. ...(. Ul'uno, Harry D. :3ar!,::~eent,
Lel~nd ll'. D1'<;\, tincl Guy 1. Ke(J.[LOd~r; ;.1so Boyd. .'. 13:;.; llIlott , City l..cll~:';c:er,
GoorBe ',I. 31.litll, ,at~; j,t;tUl'il:;Y, blHi ;'l'Cdlk "':ooley, ::;it~,' ..uclitol' und CL;rk.
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.id'tcr tILl raK,tinc l1LC1 0;3e11 l~ul~7 ui_.llc:d to ordel' b~{ th,:;} Luyol', tJu i,~byor
unnounced thc;t tll't.;:; \iDS u continuu tio!l ,)f tl~,:) s:;.!~clbl J,if,:;etinc Ui..11.,d i'or
11':'0~J ..i..I:. the f3U'.f] do:' f.ar th,:) SGLle ~.ur;).:JsG. ".ttel' dUG .:1c1ibel'cti.:)n,
i t V!a~} J:1ovc:d by vommis~,.;L111C;:C :"'::r''...'1I' [. riel ::-JCconuecl. b~' Cor.::.J.s;3io:lf;I' .s:...:.rG~unt
thut 011 rules requirlne dG1'ol'l'ed cOllsiderL.tLll1 of ;ll'O~)OS(Jd Oruilluncc
55') Clt three soVr..ll'bl i':i)nt,~Jl~~S be 8USt.~ih.,6cl so tt1i..,t SL..:c1 U~:cllnLl1ce :"w,r DO
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consic1oI';Ju1'or fillCl c:c10_ition t.:.t this r:L;etlll~. 'Ill';; l,,<.\~'or lLvinc I-,ut the
(jUestioll Ull thd H:.JtiJll, tho vote VluS:
111.
J~ye: J. O. Houze, J. .i.C Uruno, Hurry lJ. ~:':'J.:gG!.mt, Leltdld .l!'. vI'sv),
Guy L. l:ellnody.
Huy: Hone.
YlherEJUiWn the l..uy 01' d oclt:.. red th 8 Loti on d ul~' c L.l'ried.
Ol'dinl::lJlce Ho. 553 I;L.S LlO\1 :;:'l.::';( by ti tlc :)nly <:. nd it VU.lS moved b~r
.,If G OlIUllis ~jioner :3urC'-'tJnt, sGconc1uC b~' G ol;uai Dsi onUl' ,Ul'(j\,j t ll<:.lt 5 ~.i<1 Ul'diu!; nc e
be pessGd 011 its second I' e,--clin~ bJ' ti tlo only. '1'110;; vot e on the lllotion \I<;;S
us l' olJ.o\'ls:
.i..ye: J. O. Hou~~e, J. 1-1:. UrUllG, HU1'ry D. cibJ.'L:'Ji,mt, LGltind I".
Drevl, Guy L. l~(-}nn eclJ' .
Huy: None.
Wherelll~on the lIuyor d ech: red tho motion duly curried.
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By unanimous conso nt su id "pro posud Ordinunce VIW::J reCJc1 the third time
in full. It VJ(J s moved by COIUmission er 01'[:.l1e, se conded by Com!!li Sf; ioner
Dr'ow that OrdinuncG Ho. 553 be pussed on third tind fi118l rOf.ldine. The
vOtOdl the motion wen un follows:
i~y 0 :
J. O. Houze,
Dr a\': ,. Guy L.
Lelund F.
,J. 1{ ~ Crl.l ne, Hf.lrry D.
Kenned y .
Su rgec.lll t,
Nuy:
HOllO.
Vllwreu,lon the I.~ey or dc~clLred t lw motion duly curried l!lnd tha. t
suid Ordiu:;llloo rib:; dul~7 E.Jdovted on three Eiovorc.,l re:...din~s.
It VJUS I!lOVud UJl COI!llaissionor Cl'Wle, seconded b~l COlJmissionor
SarBlJUllt that u socond vote be tu}~ell liVon the.; lJl'ovisloIlS of auld Ordi.nenoe
thot on 01liOree ncy exists l'eq ul rine it to bocome 31' l'(~o tl ve upon edolltion.
The l,~uyor JlUvinc; Illlt the quoGtion Dn tho kotion, the vote Vlun LS follows:
J~y e :
J. O. Hau2o,
Dl' ,'....1, Guy L.
Harry D. Sl.l'Geont, Lelund ]'.
J .H. Crllne,
Kennedy.
Ney:
Hono.
WhereU110n the I\:fl~ror decltlJ.'ed the Elotion dUly ct.<l'.rled ond that
by ullonill,ouS vote 0 f the Ui tJ' Uor.u1issioll th:~ OrdinE.nce is effective
immediately bS un emol'f;ency 1lle~.SUl'e.
- r~ehe City .I.uc.i.i tor Gnd CIa rk LllIlOUnCeu. thut the said Ol'dim..nce
h~d b cen signed by the l..uyor.
On moti on ond vat e th~ rude ting udjo urned.
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.~'ebl'uury 10, 191f8
OHDIILiJGj 110. 553
.4,N OHDIH..l,fU":; ';'ll"avidillC 1'01' th:.l ~1Ulc tlnd
UWJl~d of \::5;~5 ,vUJ .i:,.ullici.,ul Utllit~T
.i.{cvenul:.! U~l'til'icutG~~, J'JI'lor; D l' 19h7,
und 1.li...kinC siJccl1'lc i)rovi~jL)l1 L[J to
tl18 inttJr'=.!st l'\..itu t;,ey ,.re: tv h..Wl'.
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'mi..!:H.ll:..l\i:i IJl'()visiol1. VltlG l.Lllle b:/ UI'clim.nce .'b. 550 :.;dollt;;ld IIov81!lbGl' 1'/, 191,7,
1'01' thf~ issuunco 01' )~525,OOd l.~unici.r!Jl UtilIty i(dv:,nUti GOI'tif~icLtes, ~eries
01' 19h7, of thll Git;{ of GleuIT,{,ter, :':"loridc;., (,nel ill s:.icl ol'uim..llce it Y.'U8
prpvided tl1et sibd c ertifiuutes bDL.!' suell rLte 01' rotes of interest C:lnd
be sold 8nd delive1.'ec1 in sucll [,LUnner c.nd u~)on such tel'r:1S tiS I~'WY b:) p1'8s-
oribed by the City GOI!lJ!liBsiDn; tl11d
i,iJJ&i:Li~~,:3 s,,"id Oi ty COJ:JInisBion hi:> S n'3gotioted. for the sule of suid
certificates 811d hUB received l. propost:.1 1'roIil 13. J. VtlIl Ingen &. Co. Inc. for
the PU:rcllfJSe thereof', which 1)1.'O)osa1 hus bt~en duly considered and found to be
odvnntaeeous fror:l the vi eVl }>oi nt of th '3 city:
HO'd, 'l'1I~lL:;.ji'0i~.~, Be it OrdE:.ino d by tho City COIllnlission 01' the. Oity of
Clearwetorl FlQria~, ~s folIous:
See tiol1 1. Tlwt upon bei ng ~jdvisod in tho premises it is hereby
determined thut the biel .]1' 13. J'. Van Ingan &. Co. Inc., for tho purchase o:f
~;5?5,ooo lIunicipCll Utility .l.~.evcJlue Certificates, :.Je1'ies of 19l..7, ui>on terms
01' ~513,450.0(), Eind "~lith e coupon interest rcJto 01' Throe(31~) per cent
3~~ ihJr unl1UlJl, is tho l1iel1est 8nd best bid received, end suid certificutes be
and the SClIIltJ rU'e;) hereby 8wElrded to soid n. ;r. Von Ingon & Co. Inc.,
Section 2. rihtlt suid certificotes shull bu prepC:lred, executed,
i'isued, sold end deliverod viitll ])rovisions for i1Clyment 01' intorest ut the
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rate of Threo per cent 3~j per ClnnUlll.
Section 3. 'l'hot the f'orm of Elgreem.ent 01' sale of said certificates
to B. J. Van Ingen &. Co. Inc., be and tile S[,r!le is hereby E..ll1.)l'oved, nnd the
I\:eyor, City l.;c.:nDl;er Clnd City 1.uditor and Clt::1'k t;re hereby t.uthorized to execute
sa id agr'eeLlc nt 1'01' El nd on uelw If' of tile Gi ty of' C1eur'\iuter end to ul'fix the
corporate seul of' suid city thereto.
Section 4. rl'ha t by reu son of th0 urgent need for fuhds to puy the cost
of' improV6raents, ,e:xtensions Clnd bottermellts to the municipul utility prope1'ties
of' sl:1 id oi ty Elnd l' or the l'reservf;: tion of' th (I heel th, sbt'ety end vlol:fBre of tho
inhabitants 0'1' St\id oity un '3mergency is hereby declared, and this ordinance
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shall ba i~ full force ond ef:feot immediutely upon its adoption.
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1l8ssed ond e pprovod Febru8ry 10, 19h8.
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hppravcd: Jtebl'uury la, 19,,-8.
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City llttOl'noy
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11' e brUE:l ry 10, 19h$
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City of UleLrwuter
ClearvJl.'itor,
Floridu
GentleflOn:
For yourFIV,~ HUjili...{~D 'll';J~iJTY:1:1i'IVl; rllrI()U..:;~.~r:J J()LL:..i{~:3 (~~525 ,000.00) l>~UCIJ:'hL
U'I'ILI'l'Y J,L..!;VJ~iHJb G4~TIt'IC~lr..i.'.~~), uuted DecfJ!uber 1, 1':;47 bnd b(~QriIJ.g interest
at the r'uta of (J;;) 1'hree pEJ'r C"'::lllt !iH.:....l1l'lag ['r01:l 19/+8 to lSJ63, mOTU f'ully
descri bed in your 0 ff'ici81 .Jotio {) of' 3ule, \'Ihic 11 is 8< ttlch oel he :r'etCl and I118de
(1 pcrt hereoI', VJe will yuy .l!'ive Hundrod r:L111irteen 'l'l1ousbnd Ij'our Ilundred Fif'ty
Dollars &; nO/loa (~~51),4 50.00) for DOCl'U.JU i llt 3res t to db te of' deli very.
In aCCOl'd8nOe with thu tJI'lllS 01' s(;.id Uotice of Stile, \'Je ettach hr;;reto Cashier's
Check No. 493g6, iSBued by thd :floride Uational Bonk Clnd rl1:r'ust GOIllIXiIlY :..:t
Mi Cillli, PCJY<:i bIG to Y QUl' 0 rde)~ in the b!110unt of TJ.:lJ rI; ~OU::)llt..rD li'IVZ ffiJrfDh;':':D
DOLL.US (~;lO, 500 .00) .
Hespe ctfull:'J' suomi tted,
B. J. Vll.l-T Il1G..!lJ t.:. GO. INC.
By E. G. Hodge-signed
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Doard ,of City COlDHissionel'S
Ci ty of Clam'vJu tel', }'lol'ida
Gentlemen:
For your leBt:.lly issued llrope~"'ly e:xecuted :;;525,000 City of' CleurVluter,
Jnoridu, llunicilJul Utility .l{€Jvenue Certificates, and in all rospects to be
as !.lore fully outlined in :your oi'ficel notice of sele, which is attached
hereto end r~t(jde c:l llUl't hereof, \'Ie vlill pc::y you ~;52l,955.00 and accrued interest
from date of certificatos to dat~ of delivery. . .
The ceTtl:fiCBtes sholl be dated Docembel' 1, 1;/47 6nd shall 1J1Bture OIl
December 1st of' eucl1 ;)'(;ll.lr 19h8 through 196J inclusive, culluble in ElccordE:ll1ce
wi tl1 the notice of' sole end bour interest et 3 1/ L} percent.
lJrincilJBl anc1 interest sholl be pcyabJ,.e ut the GI1Gmical Banle end Trust
Cbmpeny, Hew York, NeVI York.
It is our IlndeTstandi!lt; the city will furnish us ,'lithout cost final
8pprovi ng opinion of l\lessrs C uhpDlfin flnd Cutler, h. ttor neys, of ChicbgO, Illinois,
delivery to be mode in New York City, Now York.
We enclose as evidence of our good foith certified check for ~lO,500.00
p6yubl~,to, the order of' the Gity 'j.1rel.lsurer, Olearweter, ll'lol'idtl, which is to
be"held'by'You ullchBhod, should this bid be accepted pending delivery of' deidu
Cer'tifiqatesto Us. "
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for,any rC6son,we fail to comply vlith tho terms of this bid)
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CIr.r.~ Cm,!1,';ISI.)IJt~ t:nrUI i!:3
]'ebrul: ry 10, 191,8
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suid uhuolc i,s to be forfeited by us L,U full liquiduted <1ulllsges, otherwise,
sl:.lia1' che ck is to b (J 1l1'OmlJtlj' rutu,t.'ued L> us.
HosjJ6ctfully SUbLli ttod,
i:qul tu bIe l.h.lCU1'i tiurJ Gar .iOl'ution
Citrvlluhull, lle:L'ris unci Gorupeny
.i3tJY r.l.'. -... .1-'iorce, i;.i:,ent
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Fbb~uury 10, 1948
Honorable City COIilI.1is:Jion
City of Cleu1'wu~er
aleBr~~tor, ~lorido
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1!'or ~.:525 ,000 1(;gbl1y it)su~d Lunic ipul Vt 11 i ty .{avenue Gertifioetes of the
City of' C1eGl".Jl~tur, Flol'idu deliverod to llS .i n HevJ York City ch.ted December 1,
19L;. 7, c10110rninuti JIl,~l ,000 in ter(;)~~ t Ii ;.;yu ble Dowi-L nnu.elly, both veinc iptl1 <..nd
intGrGst i.>lIY:J;;le ut Chenieel Hank ~~ Trust Cor:l~J8n~7 in New York City, N.Y. und
.rmturin[; llnd b',:H.ll':Ln[ intercnt uS follows:
~26,ooo Dec OJ. 1)er 1, 1948 1 ' ~!33 ,000 Decem bGr 1, 1956 3h;
3 '(.a
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26,0001>00 eLl bel' 1, 19LJ.9 3;';/:1 3/;.,000 D:~cer;l bGl' 1, 1957 1 '
3 ;: ~3
28,000 Dee er!lUel' 1, 1950 ' .I 35,000 DeCUIilb:':r 1, 1')5$ J '
3 ;!~o 3-co
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28,000 DecoEluJr 1, 1951 ] . 36,000 Docer:! bel' 1, 1959 3.1-(.,;
3'j/() 'r~ I
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30,000 Dee errlber 1, 1952 3;-;,0 37 ,000 Dee ei:i ucr 1, 1960 3\'13
JO,OOO Dec Olllbel' 1, 1953 ~. .. JB ,000 D (Jcer" '0 tn' 1 , 1961 ~.
J..( J 3-_v~
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31 ,OOJ Dec ember 1, 1954- J ' 1,0 , (J 00 DCl cem 001' 1, 196? 3~,~
3~/J
3;2,000 Decm.lb,3J' 1, 1955 J) , 41,000 De c E:Yli tJ or 1, 1963 J LU'
~~ ,) 2'10
l'ed ef~I!lL: b1e uS shovm on the revel'se side; ',;e Vii 11 1l GY you F iv a hunJred t\ enty
thousund two hundred e.L'Ghty-ni:la dollGrs Elnd eieJlteen cents ~;:520,289.18 \'Jhich
is $991.027 per ~~l,OOO.OO bond wi th LJccrued interest to dLte of deliver~' of
tho bonds.
.i:ri.:..)1' to del.iver~T of auid bonds ~:ou e.gree to furnisll c: certified trunscript
of 011 1)1'00 eed ings requis i tcl to thai l' i SS UGIlC e und d el iver~', ~vid encing their
1 eetlli ty Gnd the s(3cll.ri ty provisi'::>llS relGtine the reto, t::> the SE:: ti S:('1:lC tion of
M.cs srs. Oh[Jpw.Hl und 0utlcr, Chicu {~o, Illinois, Bond.t. t tor ney s.
"'/e encloso OU1' certified CdSC};: for :'~lO,500.00 LS evid8rlCe of' our [,ood i'eith
in subr:littinG this offer. 3E::id C11'2:c1: silull be lleld by YDU uncbshad until
delivery of tho bonds, but siwll bo il1I:1Sdi :...:LGly l' eturned to us if' this offer
is not 8ccellted, .:)1' if Said bond ht'I~OraG:if3 Lll'G unable to uPlHove th6 bonds,
or u;JOn ctoL,.1L,nd in th'~ eVGnt of u breech of this contruct by you. In the ev~nt
of t. bre.:.;ch by us in the IlCl'f'orI;ll:1nCe of Vlls corltract, suia chec;" IrJE;Y be
cashed and the l)roceeds retnined by you 6S full li(~uiduted duGsges for ~ny such
breuch, L.ud the cashing of such checlc ~3h81l c::n sti tutG u full r e1 eese f.lIld
d'ischarge vf ell dllmeges.
III
It is mutually understood and agrond th~t your acceptance of this offor
by resolution shell cOIlstitut'3 a contr1:lct for the ;lUrch8se and sble of the
bonds herein described.
aesvectrul1y subnttted,
l'-J,;~l
JOHN ~:uv ~.ZiJ & CO.
Leedy, 'lihuc1re & J.11er.lbIl, Orhll1do, F1e.
Hendrix &. t'lay es, 13il'mine;he.m, .hle.
By Har.I' i80 n HOl>per-Signed
Oopidd on buck of bbove--
, '. .
Certificates nUUlbored 139 to 525 , inclusive, shall be 01,1 tional for redemption
by s81li.d oity prior to flwturity in the inverse order of their Illuturity (less thfJn
all of e s1 nglc3 to be selected by lot) on Clny interest puyment date on or €If tar
Decamber 1, 1952, upon terms of par Elnd bccruiled interest ot the ooulJon rate
plUS edditionul intQrest in an amount equal to three per cent of the prinoipel
amount tlleraof it called for redemption on or prior to Dece:nber 1, 1955; two
par oent of' th 0 1'ri noipa1 a1',lO unt thereof if celle d for redemption thereafter
, end on or prior to December 1, 1956; one per oent of the principE.ll ~mount
. thereof if called for redemption prior to DecarnlJer 1, 1961; ani without peyroent
of additional interestlt celled for redemption there8'ftar.
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