07-14-71 v THE MINUTES OF A SPECIAL MEETING OF THE CITY COMMISSION OF
ATLANTIC BEACH, FLORIDA, HELD ON THE 14TH DAY OF JULY, 1971 .
The City Commission of Atlantic Beach, Florida met in Special
meeting at the City Hall in the City of Atlantic Beach, Florida,
at 11:00 o ' clock A. M. on the 14th day of July, 1971, the
place, hour, and date duly established for the holding of such
meeting.
The Mayor-Commissioner called the meeting to order and on
roll call the following answered present:
William S . Howell, Mayor Commissioner
L. W. Minton, Jr. , Commissioner
Marion F. Marvin, Commissioner
Robert R. Rosborough, II, Commissioner
and the following were absent:
Arthur J. Longo, Commissioner
The Mayor-Commissioner declared a quorum present.
Bids on the $500, 000.00 General Obligation Sewer Bonds were
received as follows :
Amount of Average Interest
Bid Cost Rate
Wm. R. Hough & Co. and)
Reynolds & Co. ) $490, 000. 00 7 . 07424%
Merrill, Lynch; Pierce, Fenner)
and Smith, and Pierce, )
Wulburn, Murphy, Inc. ) 490, 000. 00 6. 67764%
Tacott Jackson; Wilson White)
Inc .
Arch W. Roberts & Co. ) 490: 000.00 6.4879%
R. K. Johnson & Co. )
James Sexton & Co. 490, 000.00 6. 5962%
Walston & Co. 490, 750. 00 6.444%
The meeting was recessed to study the bids with Mr. George
Carrison, our fiscal agent.
Mayor Howell called the meeting back to order and Mr. Carrison
reported the bid of Walston and Company as low bid and recommended
that the bid be awarded to Walston & Company, and that the
accompanying checks be returned to the other bidders.
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Minutes Special Meeting 7/14/71
Page #2
A Resolution entitled. "Resolution of Awards" - Resolution
#71-14, was introduced by Mr. Howell, Mayor-Commissioner.
Said Resolution was then read in full and discussed and con-
sidered.
Mr. Rosborough then moved the adoption of the Resolution as
introduced and read. Mr. Minton seconded the motion, and, on
roll call, the following voted "Aye
Marion F. Marvin
L. W. Minton, Jr.
R. R. Rosborough, I1
William S. Howell
and the following voted "Nay" :
None
The Mayor-Commissioner thereupon declared the motion carried
and the Resolution adopted as introduced and read.
Copy of Resolution #71-14 is attached to these minutes and
made a part hereof.
* * * *
There being no further business to come before the meeting,
upon motion duly made and seconded, the meeting was adjourned.
)5.52;:::10 Amord00
m. S l owell
Mayor-Commissioner
(SEAL)
Attest:
adb,s2,a_
Adele S. Grage
City Clerk .,
1.4
RESOLUTION # 71-14
RESOLUTION OF AWARD
WHEREAS, pursuant to notice heretofore duly published
for the sale of $500, 000.00 General Obligation Sewer Bonds of the
City of Atlantic Beach, Florida, the City Commission of the City
of Atlantic Beach, Florida met on July 14, 1971 at 11:00 o 'clock
A.M. Eastern Daylight Time to open and consider all bids submitted
for said bonds; and
WHEREAS, the following bids were submitted:
J. Sexton & Co. , Inc. , St. Petersburg, Fla.
Walston g Co. , Jacksonville, Fla.
Tecott Jackson, Wilson White, Inc. )
and, Arch W. Roberts & Co. ) Gainesville, Fla.
and R.K. Johnson & Co. )
Merrill, Lynch, Pierce,Fenner & Smith)
and Pierce Wulbern, Murphy, Inc. ) Jacksonville, Fla.
William R. Hough & Co. ) St. Petersburg, Fla.
and Reynolds & Co. )
which bids are hereto attached and made a part hereof; and
WHEREAS, after due consideration it appears to the City
Commission of the City of Atlantic Beach, Florida that the bid of
Walston & Co. in the amount of
$ 490, 750.00 and accrued interest for the $500,000.00 General
Obligation Sewer Bonds, bearing interest as hereinafter stated is
the best bid received;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF
THE CITY OF ATLANTIC BEACH, FLORIDA, that:
SECTION 1. The $500, 000 .00 General Obligation Sewer Bonds
be awarded to Walston & Co. , Jacksonville, Fla.
at the price of $ 490, 750.00 and accrued interest for said bonds
bearing interest as follows :
Bonds Maturing Interest Rate
1973 thru 1982 7%
1983 thru 1992 6. 50%
1993 thru 1995 • 5. 75%
•
SECTION 2 . The proper officers of the City of Atlantic
Beach be and they are hereby authorized and directed to execute
said bonds when prepared and to deliver same to said purchaser upon
payment of the purchase price pursuant to the conditions stated in
the Notice of Sale without further authority from this Commission.
SECTION 3. The said bonds will be payable at Florida Nationa
Bank of Jacksonville or the First National Beach Bank of Jacksonville
Beach, Florida _ or, at the option of the
holder,xzt
SECTION 4. The action of the City Clerk publishing the
Notice of Sale of said bonds in The Bond Buyer in New York City and
in The Florida Times-Union, Jacksonville, Florida, and the prepara-
tion of the Official Statement for said bonds is hereby, in all
respects, ratified and confirmed.
SECTION 5. The City Clerk of the City of Atlantic Beach
be and she is hereby authorized and directed to return forthwith
the good faith checks of all unsuccessful bidders.
SECTION 6. This Resolution shall take effect immediately
upon its passage .
PASSED BYTE'S CITY COIUUtISSION ON JULY 14th, 1971.
Adele S. Iraq., City Clerk
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