HomeMy WebLinkAbout12141928SPECIAL MEETING
DEC~B~R 14th, 1928
ll:30 o'clock a.m.
Called by Mayor Geo. T. Badger for the following purposes:
"FINAL SETTL~LENT OF THE MDT{ICIP2L LIGHT
AND ICE PLANT OF T~{E CITY OF SEB,.~STIAN
VfI.TH THE FLORIDA POWER ~kND LIGHT CO~,,~r'~
AND A~DZ OTHER M.ATT£RS V~[ICH ~.AY B2 BROUGHT
BEFORE THE CITY COUNC!L."
Those present were:
Mayor
Councilmen
Clerk
Attorneyn.
Geo. T. Badger
W. A. Martin, Prdsident
R.. G. Hardee
S. A. Park
T. B. Hicks
P. P. Lawson
Lenora K. Park
James T. Vocelle
The Representative of the Florida Power and Light Company appeared and
announced that the Company was ready to complete the negotiations with
the City for the purchase of all the property used or useful for and or/in
connection with the City of Sebastian's Electric Light and Power system
and business and ice property and business as provided for by Chapter
Number 49 of the 0rdinaces of said City; and
ThereUpon Councilman Hicks moved that the Nlayor and City Clerk be
authorized to proceed to execute all necessary agreements; wh~$h motion
was duly seconded by Councilman Hardee and adopted.
RESOLUTION NO. ~9 ~
The following Resolution was introduced by Councilman Park.
Whereas, the J. B. McCrary Company has agreed to accept the sum
of 948,882.18 in full payment of 945,000.00 in principal of Street and
Sidewalk improvement boDds and Time Warrant of the City of Sebastian
dated October 10th, 1928, and all interest coupons to and including
April 1st, 1929 on the entire s~ries of Street and Sidewalk Improvement bonds
of said City Bonds $23,000, interest $44?0 Bonds 919,000 10% discount
Bonds in the yea~ 1930, 9~000.00; which will result in a saving to the
City of $8687.00 in discount on said obligations;
and
Whereas, it is the best interst of said City and the taxpayers
thereof that said offer should be accepted
Therefore be it resolved by the City Council of the City of
Sebastian that said offer be accepted and that upon a surrender of
said obligations and interest coupons to the City of Sebastian a voucher
of the City of Sebastian in the amount of $48,862.18 shall be ~ssued
payable to J. B. McCrary Company in full settlement of said obligations.
The foregoing resolution upon being put to a vote was as follows:
Ayes: Councilmen Martin, Hardee, Park, Lawson and Hicks
Nays: None.
Councilman Hardee moved that the De La Vergne Engine Company be
paid the sum of 9565.91 due it on open account by the City and that said
Company be also paid the sum of 94701.~4 due it upon notes, retaining title
on engine in light plant. Which latter payment is to be made upon surrender
to the City of their original note and retain title contract.
Seconded by Councilman Lawson and carried.
MOTION: ~nade by Coun$~an Lawson, seconded by Councilman Park, that
the balance of $300 due Yames''~. Vocelle in the Carter and Damerow suit and
$200 due for retainers fees a total of 9500. be paid.
Motion carried.
Continuation of Special Meeting held December 14th, 1928.
Counc4lman Hicks, moved that the T.~. Barnett Comoa~v ~ ~d
the
sum of $196.58 less 10b discount due ~
on open account ~
City and that said Compan~ be also paid for two Time warrants of $1000.00
each with interest and 10% discount.
Seconded by Councilman Lawson and carried.
MOTION: made by Councilman Park, seconded by Hardee, that the Sanborn and Feazeal
bill amounting to $2500 be paid interest allowed.
Motion carried.
MOTION: made by Councilman Hardee, seconded by Councilman Park, that the
General Electric Supply Corporation open account of $815.47 with 2% discount
a total of $799.16 be paid.
Motion carried.
MOTION: made by Councilman Hicks, seconded by Councilman Hardee, that the
City ~ompromise with Carter and Damerow for the sum of $3000.00.
Motion carried.
Mr. J. A. McCrary representing the J. B. McCrary Company of Atlanta, Ga
owners and holders of City of Sebastian Street and Sidewalk Special Improvement
Bonds appeared before the Council and submitted the full proposition relative
to retirement of said bonds together with the coupons and time warrant issued
October 10th 1928 in payment of principal and interest due October 1st,
1928 which statement is am follows;
~SEBASTIAN ?LORIDA_
Time Warrant---Atlanta Lowry National Bank---to secure the following
1 Bond No.6-~-Sidewalk
14 bonds No.5-18 Inc Street Imp.
126 Coupons No.5-130 inc. Street Imp $30.E.
19 coupons No. 6-24 inc. Sidewalk ~ $30.
each (all due Oct. l, 1928.)
Total Time Warrant (attached)
1,000.00
l&,000.00
Z,780.00
57O.OO
$19,350.00
45 coupons -St. Imp. No's 1-45 inc. ~ $30.00 each
(Due Nov. 15th, 1928)
37 coupons -St imp. NBs 9-45 inc. @ $30.00 ea.
due May 15th, 1929
98 coupons St. Imp. Nos 29-126 inc. ~ $30.00 eac'h
due April 1st, 1929
2 bonds St. Imp. No's 1 and 2 due Nov. 15 1928
2 bonds sold to To~ Cook $2000.00
2 coupons a $30.00 each 60.00
Less 10%
TOTAL
1,350.00
1,110.00
2,940.00
2,000.00
2,060~00
$29,170.00
2,917.00
26,253.00
6 Bonds No's 3-8 inc. St Imp due
6 Bonds due Nov. 15th, 1929
6 Bonds No's 7-12 inc Sidewalk due
3 Bonds due Oct. l, 1929
3 Bonds due Oct. l, 19S0
$6000.00
3000.00
3000.00
6,0009Q0:')
6,000,00
14 Bonds No's 19-32 inc. St Imp due
14 Bonds due 0ct. 1, 1929
_ 14 ~000.00
$26,000.00
To sale of 26 bonds ~ 95
Less 10% allowance
24,700.00
2,470.00
$22,230.00
8% interest on time Warrant
$19,350.00 from Oct. l, 1928 to
Dec. 15 1928- 2 Mo. 15 days
322.50
8% interest on 45bBonds ~ $30.00 each 1~350.00
8% interest on 2 Bonds ~ $1000.00 each 2,000.00
from 11-15--28 to 12-15-28
3,350.00
22.34
interest on 2 coupons at $30.00 each 60.00
8% interest on · Bonds at $1,~0.00 ea
from 15-1-28 to 12-15-28 (Tom Cook)
2,000.00
2,060.00
Total
34.34
48,862.18
Continuation of'S?ocial Neet ing held December lath, 1928.
NOTZON: made by Councilman HiCks, seconded by Councilman Lawson, that
Council adjourn.
Notion carried.