12/28/1936�
,
,
MINU�'ES OF TIiE ME�TIIdG OF THE CITY COPRdIS5I0N
DECEMBFR, 28th� 1936.
The �ity �ormnission of the City of Clearwater, FZorida, met on the
above date, in re�u.lsr meeting assembled, �vith the fo11o�*ring members
present:
R. E. Green, Pdayor-Commissioner,
R. I,. Baker, '
L. .t�., Ma.rsh.
The followin� �:etters were read:
December 23, 1936.
Lianorable Board of City Couuni.ssioners,
City Uf C1ea�vvatQr, Florida,
Gentlemen:
Your Boi�rd ha� just passed a resolution outlining your �uture tax
program, particularly in regard to co�.lection o� delinquent taxes and
impr�vement assessments. Your resolution provides for certain discoun.ts
an taxes and assessments and �urther provides that interest co�apons of July 1,
1934 and prior thereto, irom the �itv�s Bonds or Tax Notes,for vrhich these
coupons will be excLanged under the �efunding plan, may be usecl at tLeir
face value in payment oi' the face amount of the 1930 and prior tax�s and
improvement aseessments.
Our firm proposes to purclza.se these eoupons and�or tax notes for the
puiposc: of re-sale to property ovaners to be used in payment of their taxes
aizd assessmerts. ti'Ve propose, as far as possible, to purchase all of these
outstanding coupons, Our idea is to co�operate with the City GovErnment
in the use of these coupon.s and�or tax notes in settlement of taxes and
r�ssessments for which they may be used. In order to do thts, we sre plan-
nin.g on makin$ an active campaign. by the use of newspaper advertising, ma:i1,
telephone, aud personal contact vrith the property otivners for tho collection
of these delinquant taxe.s and assessments.
You can readily see that our prograLn calls for the expenditure of
considerable sums of moneg, both for the pur�hase of the coupons and the
exponses of such a campaign. �9e can be justified in doing this only by
receiving in turn the complete co-operation of the City Goverrmient. Vi�e
therefore ask thatr gour Board grant to our firm the exclusive right to
main�ain in �hs Gity Auditoris Department, Tax Credits composed of coupons
and/or tax notes, against �a�hich we may issue to property ovmers credit mem-
oranda to b� used in payment of t�eir taxes and assessmeni;s. Fle furt3aer
request that the City grant us its exclusive co-operation 3n the purchase
of these conpons, as and `vhen they are received by the City fc}r redemption
or exchange, snd that the Board grant us, insoi'ar as you are able, the
exclusive rigYit tc ha.ndle and d�al in these coupons and�or tax no�es dur-
ing the continuation of your present program,
The advantage �o the Cit3r of this arran:gement will be that so �ar as
these coupons and tax notes are can.cerned, t�ey will laxgel,y have to deal
vritn only one �reditor� instead of several thousand. �llso, vte believe that
the campaign tive propose to folZow will result in a much graater volume o�
ts�x paymen�s than would be otherv�ise made. This ie of course ta our ad-
vantage, as vie would therek,y dispose of our tax notes mo�e quicl�l;�.
, {
The �xetual mechanics of o�,r plan ha.ve been discussed in deta:il �rith
the �it;� Auditor, the �it� Attorney and Coum�issioner D. 0. Batchelor, and
we �����ve has the approvr�l oi al1 of these �entlemen.
Por your• in.formation9 we are the only firm of licensed Bond DealEr:s
located in the Ci.ty of Clearwatc�r, and our idea in asking ior 'the ex-
clusive rights above rei"erred to is primarilg to protect our investuYent
throu�h eliminati::n of cc,mpetition.=rom outside dea7.ers. We z�ish to
,
1
�
f
�
�
�Q� �r �
�a
��`` assure you that if o��!r request ia granted, we will coopesate in every way
poasible �vith the Board, and the City Offic3als for the l:esi; interes�a of
, the City,
RespectfulZy submittsd,
A11ey� Rehbaums & Capes, Inc.
By Wm. I�, A11ay, Pres.
WI,A t AT
Decamb�r 26, 1936
Honorable Board of City Covnnissioners
City of �learwater, Florida
Gentlemen:
This letter is vmitten to slzpplement ourletter of December 23rd,
addressed to the Board, and is f'or the purpose of explaining the detailed
mechanics of our prop�ised �lan covering the handlin.g of past due Bo�.d
Coupons and Tax Votes.
4Ve proposo to purchase at 20� aZl c�upons as they are sent in by
the bondholders with thei� bo',uis for exchange, whether they have been
sent to the First N�tiona� Bank or to the Ci�y. 4Ve would also purchase
any cot�pons that vre aaiz find in the open market at t.nis same price. The
City cvould then issue to ua tax notes for these cou�ons, These tax
notes would ba kept by us oxi deposit at the First National Banlc, and the
bank vrould keep the City Auditor posted as to the amount o� these tax
notes. These tax notes would be deposited with the First National Bank
with instructions fro� us that they would be delivered to the City Audi-
tor on payment by him at 30� of their face. �
l�hen taxes and�or assessments, for whic�. these tax notes can be used
�.znder the terms of the 1�e�'unding Plan� aro pai3 by �he property owners,
�vhether through us or directly to the City at the City Ha11� the money
so collected v�ould be used by tbe Ci.ty to purcY�ase these tax notes from
us at the abcsvs rate. This would hold true regardlgss oF the discoun�
rate in e�fect a� tre time taxss uaere pa3d. For instance, after the dis-
coiant rate 3.s ehanged on certain taxes and assessm�nts on April firs�G,
from 70 to 65, therebg requiring payment by the property ov�rzer of 35�
on the dollar, the amount of money collec�ed by the �ity at this or ar�y
o�her rate would be en�irely used for the pur�hase of tax notes from us
at 30�. This automaticaZly fixes the gross s�read to us on these tax
notes at Z0 points, This is in accord P�i�h the recommendat3on.of the
City �.ttorney and Cormn.i.ssioner D. 0. Batchelor,
W� would maintain with tLe Cit� xuditcr a supply of orders for
these tax notes signed by us in blank tc be filled ou� by the City
Auditor with the riame of the tax p�yer and the amount of tax notes to
Ue used on any �articular settlem�nt �y the tax payer.
As stated in our former letter, �+�e will use everyr effox�t to co-
operate �vith the Cit� ior the col.lection of past due taxes and assess-
ments, and. will ofier our services to the propertf ot�,mers to the Pullest
extent, since it is naturaliy to our advantage as �ve11 a� to the advan-
tage of the City to aPiect a collection oQ taxes as rapidlg as possible.
Rsspectfullg submi.tted,
. Alley, Rehbaum & Capes, Inc.
Bg �Alm, L. 1�.11e�, Pres. �
WLA:AT
�
�
i
�.. _ _
_ _ _ _ _... . . , _ . _ . �
a�� ',_� ._
��, �.
December 22ad,.1�J36
To �.ne Mayor-Coirnnissioner and City Co�tssioners
of the Citg oi Clearwater, Florida,
Gentle�en:
This is to advise that I understand in detail the proposed arrangement
to be made between the City and V1. Z. A11e� &Campany, �or the han:dlin� of
interest caupons and/or delinquent tax notes. Mr. A11ey has discussed his
proposi�ion with me in detail and I have also discussed the same arith the
Gity Attorney. My c�nclusion is that the Conunission should accepti Mr. A1-
ley�s proposition and allovr h�.m to deal in the interest coupona an3�or de-
linquenb tax raotes, at a margin o� nat over ten points.
The success of the re�anding plan d�pends upon.the quick retirement
of these delinqiaent tax notes, fJlr. Alleyts Company, in order to obtain
the cielinquent tax notes wi11. have to invest a considerable �Um of money,
they w3.11 then be anxious �o have tt�.e tax notes retired and will co-operate
w3th the City in its new tax program.
I believe tY�.t Mr. A11ey or his Company 5hould be �iven the exclus-L�e
rights tio handle this mat�er, ao far as it is possi�als for this �ounni3sa.on
to provide, i7nless Mr. Al1ey is given exclusive s�3.g.hts, then oi course the
proposition will not bo sufficiently attractive for him to underta�e this
matter. �
I am pleased to learn that you have passed the FiesoJ.ution
which I had pr�pared concerning the future tax program of the �ity, I
hope to be with you gentlemen a.gain in the very near fizture, as soon as
my health permits.
'v".'ith best wishes and kindest regards to al1 of you, I am
Verg sineerely yours,
D. 0. Batchelor.
DOB : FT�
The following Resolution was introducod by Mr, Baker:
WHEREAS' the First Nrztional Bank of Clearc�aater, Florida, has purehased
from said City gas revenue certificates, aggre�ating the principal amount
of y�12,n00.00, being numbered 68 to 79, both in�lwsive, bearin� date of �e-
cember 1st, 1935; and
WHEREAS, The First National sank of this C;ity in making said purch�.se
has requested �hat said gas revenue eertificates be aecepted by the Gity as
security for any deposits oi' cit9 fi�ds at seid bank�
NOVV THEREFORE, BE IT RESOLVID BY Tf3E CI'PY COMMISSION OF THE CITY OF
CLEAR4i�ATER, FLORIDAc in regular mfleting assembled:
That the said �ity of Clearwater hereb� agrees v�itk�. the First National
Bank of this City to accept as securitg, at par value, for any3eposits made
by said CitJ of City funds at said bank gas revenue certificates o�rned by
said bank, dated pecem�er 1st, 1935, being numbered 68 to 79, both inolusive,.
and aggregatin� the principal amount of �12,000.00; providsd, hotvever, that
the said gas rsvenue certificates shall be at a1l times equal to t�e amount
of money deposited by the City with said bank.
Passed and adopted b� t}.ie City Commission of the City of Clearwater,
Florida, this 28th da� o� Deaembe� A. D. 1936.
It tvas moved by NLr, Baker, seconded by Mr, Marsh, that the said
resolut3on be passed, and ttpon x�o1l ca11 �h.e follot^ri.ng vote �vas polled:
Ayes: R.- E. Green, ,Mrzyor-�oimnissioner�
R. L, Baker,
L. A. Marsh.
Nays : iQone .
Abseni; and not voting: D. 0, Batchelor and J, ,�. ,Barry.
�� ,r�;.�
�,�
�jVhe.reupon, the Mayo�7-Co�asioner declaz�ed sa3d resolution pawsed
and adopted, and signed the same.
Ti �,vas moved by Mr. Marsh, seconded by r�ii•. Baker and carried, that
the propo93�tien conti�ined in l�ro Alleyts let�ers be aacepted, and the
City officials,authorized to act acaordin$3:g.
Moved bg Mr, Marsh, seconded bg Mr, Baker and �arried, �hat the
.
Cit� Manager be authorized to rent the auditoritun in the Ciby Hall to
the Sun Piet and Health Foundation for a series c,i leetures.
Moved by 11ir. Baker, seconded by IrSr. Pliarsh and carriod, that the
plat prepared by the Florida Povuer Corporation, shov��ing �he lines owned
b� the Power Company serving city pr�oparties be scedpted.
Moved by &ir. Marsh, secanded bg Nlr. Balfer and carried, tha� the
City assarse she cost of Group Insurance of effiployes over �he amount
of 50� pFr month each, and �hat all employees be urged to take the
Group Insuranee.
iVlovecl by L'Ir. Baker, seconded by Mr. Marsh and carried that 20°0
diseo�?�.t be allowed ox� l.ots 6 and 7 Blr�ck 25, Belleair.
Ivioved by Irir. Baker, seconded by Nir. PQarsli and carried tY�t a 10�
diseoun:t be allo*Ped on taxes of Vd. H� Wolfe, on �Ghe N�rthwast Corner
of Gaiden and HPtTen, on the Plortheas�t Corner of South: Fort Harrison
and 4 Street, and lot o�^med by him one block west oi Orangowood.
PJloved by Mr. Baker, seconded by Mr. Marsh and carried that e
reduction of �31.50 be allowed on the Maek Dixo� property owned by
Roselyn K. Donnell.
IVMaved by Pdr. 1,4arsh' second:ed by Mr. Baker and earried that a 25�
reduction be allowed qn the 100 acres outside the•ci�y limi.Ls, as per
application of NIr. Ra.ndolph (Close to Mr. $aker.)
Moved by IJ1r. Bakers seconded bg Mr. Marsh ancl carried that the City
Manager be authorized to se1.1 Lots 43 and 4� in Block D� Bassadena�
for �475.00 net.
'i'here bein� no fur•ther business, the meet3ng was �.djo�us�led.
`-)� C�
Mayor-.,ommiss oiier.
Attest:
�' an e�y
0
s