HomeMy WebLinkAbout03091931Continuation of Special Meeting February 27th, 1931.
MOTION: made by Councilman Park, seconded by Councilman Hicks, that Council
REGULAR MEETING
Marc~ 9th, 1931
adjourn.
Moti on carrie d.
Roll Call:
Mayor
Councilmen
Clerk
At torney
Geo. T. Badger
W. A. Martin, President
S. A. Park
T. B. Hicks
L. K. Park--absent
James T. Vocelle
Councilmen R. G. Hardee and L. 0. Baughman--absent
Messrs Fleming and Snow attorneys of Cocoa, Florida representing the
Bondholders of the City of Sebastian, Street and Sidewalk bonds appeared
before the Council and discussed the situation an possible plan for re-
financing the past due and future payments. A tentative proposition subject
to approval was outlined as follows: a refunding issue for a period of 3 years
at 3 percent interest and no inter~st to be paid for the first 5 years..
After that the principle payments to begin.
Attorney Vocelle was directed to have a proposition outlined in detail
to be submitted to the Council at the next Regular meeting.
MOTION: made by Councilman Park, seconded by Councilman Hicks, that Council
adjourn.
Mot ion carried. ~~