03/24/1927MINUTES 3/24/27 140
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` MINUTES OF TU CITY COMISSIO
Mar ch 24th, 1927. 490
The City Commission of the City of Clearwater, Florida,
met on the above date, in called meeting assembled, with; the
followin membexs }resent:
H. H. Baskin, Mayor Commissioner,
E. B. Ca.sler,
4. F. 1.7allace,
Cha:~ . F. Masan, City ATanagex ,
AT. H. Jones, City Attoxney.
The following call was read:
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NOTICE OF SPECIAL IMET ITE
A special meeting of the City Commission of the City
of Clearwater, Florida, will be held. at the Cit; Fall, F
Thursday, March 2a$$, at 10:00 U!, for the purpose o
consideration of financial matters of the City,and- action
relative thereto. You are hereby requested to be present.
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Signed this 23xd day of Yarch, 1927.
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klayor Commissioner.
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COM issIoner
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0 ommiss loner
Cit At orney.
Representatives from the four barks in the City were
present, and. the matter of $62,000.00 necessary to meet
maturity of Special Improvement. Bonds, April ist, was dis-
cussed. The. Bank of Clearwater agreed to loan the Citi
$20,000.00 of than amount, the First National Bank $15,000.00,
the Peoples' Bare ?15,000.00, anal the Guaranty Title & Trust
Company ,12,000.00, to be secured by Revenue Certificates.
Vx. Wallace introduced the following resolution;-
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RESOLUTION OF THE CITY 00AMISSION OF TFC CITY OF CLEARVIATERP
FLORIDA, AUTHORIMIG THE ISSUANCE OF' .A. REVmM CERTIFICATE
IN FAVOR OF THE BANK OF CLE CATER, FOR THE SMI OF $209000.00,
A. REVENUE CERTIFICATE IN FAVOR OF THE FIRST NATIONAL CNK OF
CLE RWATER, IN TIM AM11OWT OF 015,000.00, A, REVMM CERTIFICATE
IN FAVOR OF THE. kEOPLES BUM OF CLEARVIATER, IN THE AMOUNT OF
015,000-,00o AND .A. RET MIME CERTIFICATE IN FAVOR OF THE GUARANTY
TITLE & TRUST COITANY, IN TIM ,AMUNT OF $12,000.00.
WHEREAS: an April lst, x.927, bonaa of t1le City of
Clearwater, based, oar Certificates ns' Indebtedness for local
improvements in, the City of Olearviatev, to the amount of
062#000400, will become ane and. payable., and
WHEREAS: relays in the completion of contraota on said.
improvements in, said city have delayed. the filing of liens
and the issuance of Ixiiprovement Certificates, and. by reason
theve,of, there are not sufficient funds on: hand to promptly
pay said bonds at matuwity, and
WHEREAS: The Bank of Clearwater has agreed to loan said.
City the sum of �0020jOOO.00, the First National Bank has agreed
to loan said City the sura of @'15,000.00, the Peoples Ban
has agreed to loan said City the sure of 16�15,000.000 and -,,he
Guaranty Title & Trust Company has agreed to loan said. City
the sum of 012,000.00, Making a total. of 5'62,000.000being the
amount necessary to take up and, retire said bonds
NOVI, THEREFORE., BE 1T RESOL , by _the City ;Commission
f th Cit
o e Y o Clearwabor, that a Revenue Certificate be
issued. by this Commission, ander and by virtue of the pro a
visions of Section 17, of Chapter 10393, of the Special Acts
of the Legislature of Florida, of the year 1925, to the Bank
of Clearwater, in the amount Of 020,OUO.00, to the First
National Pk, in the amount of 015,000.00, to the Peoples
Banff, in the amount of X15,000.00, and to the Guaranty Title
c°s Trust Cn�apany, in the amount of 012,000.00, said. Revenue
Certificates to be payable to said. banks respectively, on ,or
before 150 days after date, and bear interest at the rate of
six per cent per annum, said certificates to provide haat the
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holder or Iholdexs thereofshall be' ebdd out of subsequent
assessment collections or subsequent ter as-eessment col-
lections, as provided in Chapter 10093 of the Special. Acts
of the :Legislature of the State of Florida, f ..r the year
19250 and the holder or hol.deVs thereof shall have a lien
upon the uncollected tax assessments or uncollected. speeal
assessment colleetio.ns for the full amount of the certificates
herein'b6foxe mentioned.
Passed by the City Commission. this 24th day of lairchy, 1927.
s a-,
ayor Commissioner
Attest
(s) J. n Gilmore
City Auditor & MR.
Moved by hix. Wallace, seconded by !,r. Caslex, that the
resolution be adopted., and upon xol- call, s". H. Bas'tin,
E. B. Casler, and A. F. Wallace voted aye, so the resolution
was adopted, unanimouslyP
Moved by 1!s. Ca,slex, seconded by Mr. ,1allace, an
carrier, that the action filed by Eugene Pierce and other
citizens of Cleaxwater, be referred to tae City Attorney •or
immed iat e act ion.
Loved- by Mx- Iallace, seconded by �r. Casler , and cainAed,
that t �e meeting be adjourned.
Mayor C omrnz, s ioner
Attest
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TI A�:;r & .Clerk.
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