05-19-58 v MINUTES OF THE MEETING OF THE ATLANTIC BEACH CITY COMMISSION
HELD AT THE CITY HALL ON MONDAY, MAY 19TH, 1958, AT 8 P.M.
Present:
Wm. S. Howell
Preben Johansen
Marion Marvin, Commissioners
and
Frank Thompson, City Attorney
J. F. Waggoner, Jr. , City Manager
Adele S. Grage, City Clerk
The City Commission of the City of Atlantic Beach, Florida met,
pursuant to law and the rules of said Commission, in the City
Hall of said City at 8 P.M. , May 19th, 1958. The meeting was
called to order and upon the roll being called there were present:
Wm. S. Howell, Mayor- Commissioner, presiding and the following
named Commissioners: Preben Johansen, Marion Marvin.
Absent: Charles R. Moore, Hugh Roberts.
Commissioner Johansen introduced and caused to be read in full the
following Resolution #58-15 and moved its adoption:
RESOLUTION #58-15
WHEREAS, the City of Atlantic Beach, Florida, by Ordinance
No. 15-58-2, authorized the issuance of 8300,000.00 General Obliga-
tion Sewer Bonds for the purpose of pitying the cost of the construc-
tion of a sewer system for said City; and
WHEREAS, said bonds have been validated by Decree of the
Circuit Court of the Fourth Judicial Circuit of Florida in and for
Duval County, on April 10, 1958; and
WHEREAS, the City Commission has determined that said
bonds should be sold at public sale.
NOW, THEREFORE, BE IT RESOLVED BY TEE CITY COMMISSION OF
ATLANTIC BEACH, FLORIDA, that:
SECTION 1. $300, 000.00 General Obligation Sewer Bonds
shall be sold at public sale on June 11, 1958 at 8 o'clock P.M. ,
pursuant to the notice hereinafter provided for.
SECTION 2. The City Clerk is hereby authorized and
directed to publish a notice calling for bids for LNaid General
Obligation Sewer Bonds twice in the Florida Times-Union, a news-
paper of general circulation in Atlantic Beach, Florida, tIe first
Minutes 5-19-58, Page #2
publication to be not less •than fifteen (15) days prior to the
date fixed for the sale. Said notice shall be in substantially
the following form:
`NOTICE OF SALE
$300,000.00
CITY OF ATLANTIC BEACH, FLORIDA
GENERAL OBLIGATION SEWER BONDS
Sealed bids will be received by the City Commission
of the City of Atlantic Beach, Florida, to and including eight
o'clock P. M. , E.S.T. , June 11, 1958, for the purchase of
$300,000.00 General Obligation Sewer Bonds, dated April 1, 1958,
with principal and semi-annual interest (April 1 and October 1)
payable at the Chemical Corn Exchange Bank, New York, New York,
or, at the option of the holder, at The Beach Bank, Jacksonville
Beach, Florida.
Coupon bonds (not registerable) , numbered 1 - 300,
inclusive, in denomination of $1,000.00 each, and maturing
serially in numerical order on April 1, as follows:
$ 5,000. in each of the years 1961 to 1970,
both inclusive;
10,000. in each of the years 1971 to 1979,
both inclusive;
15,000. in each of the years 1980 to 1983,
both inclusive;
20,000. in each of the years 1984 to 1988,
both inclusive.
Certain of these bonds are subject to redemption prior
to maturity, the details of which may be secured from the Official
Statement.
The bonds are general obligations of the City of Atlantic
Beach, Florida, and for the prompt payment thereof, the full faith,
credit and taxing power of said City is pledged. The principal of
and interest on said bonds are payable from and secured by a levy
of ad valorem taxes without limitation as to rate or amount on all
the taxable property within the City, as provided in the Ordinance
authorizing said bonds, and are issued to finance the cost of the
construction of a sewer system for said City.
Bidders are requested to name the coupon rate or rates
not exceeding 5%. Bids must be submitted on a form to be furnished
by the City, such bid to be accompanied by a certified or cashiers
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