Minutes 03-14-27399
SPECIAl,. I~LEETIi~G 01~ MA_WCH 14TH, 1927.
A Special Meeti~g of the Board o£ Commissioners
of the Tow. of ~oy~ton, Florida, was held at the Town Hall
of the Town-of ~o2,.lton, Florida on Mo~:~day Morning, March
14th, .-~. D. 1927, at 10~Z0 A. M.
Prese.t:
R. O. Myers, Mayor
Harry tSenso n,Vice-Mayo r
E. L; Winches?er,Town Clerk
The a~ove coz~stituting the entire Board of
Comm~ssioaers of the Town of ~oynton, Florida.
The meeting was c~lled for the purpose of disposi:~g
Street Improve~aent Bonds of the Town of Boy~ton, Florida,
advertised for sale i.rA the Palm Beach Post c~lling for
to Oe received o~A the 2Srd.day o~ FeOru~ry, ~. D. 1927,
The followi~Ag com~uaio~tion was read:
"West Palm ~each, Florida,
March 14th, 1927.
~. Tow:~ Commission o£ Town of ~oynton,
Florida.
0A the 10th day o£ September 1926, White Coastruction
)~pa.y e.tered in~o a col~tr~ct, with your Honorable t~ody in
amc ~:~t of $448,Z98.00, there0y agreeing to furnish all
~or a.qd m~?erial a.d ~o do certain street improveme~? work
thi:~ the Tow~ of ~oyaton, Florida.
~ Payme~t for this work was co~-~templated to have bee:~
~de through issua:~ce aad sale o£ cert~i_,'~ stree~ improve...ef~t
~nds of t~e Town issued u:~der the &ct of Legislat~re of 192Z,
.~n provides ~hat 79% of the total estimated cost of said
should be issued upo.q the letting of the co::truct.
Our compa~y has prosecuted the work u~der this '
si~ce a0out Septe~Oer 1st, thus fiaa.(Acing the s~e
a~d we are infor,,,ed that the Towa has hee:~ una01e
spos~ oi' its Oonds i~ order to provide the ~ecessary
.s 1'or rite payme~t aue us u~aer our cor~tract. We t-ere£ore
beg leave to Submit the fOllowing proposition which if accepted
by your Honorable Body will constitute a binding Contract
between us:
The WHite ConstrUction Company will take $315,O00
par Value of your Street Improvement Bonds, Issue of 19~6,
on a basis of par, in payment for this work already completed
and to be completed, to the extent of $315,000, it being under-
.stood that the Town will deliver to the undersigr~d, White
ConstructiOn Company, said bonds from time to time, in equal
ma~urities as nearly as practicable, based upon the amounts
'due the company in accordance with the Eagineer,s estimate.
It is distinctly understood that interest coupons
i.on said bonds which bear date October l, 1BE5 are
attached to the bonds on delivery of the same to the contractor,
Yours very truly,
White Construction Company,
~Y_ N. E. ~hite -
Considerable discussion Was had concerning this
tter, and it appeari~g that due effort has been made to
~ispose of the $S50,000.00 par value of Street Improve~elt
~s of 'the Town under date of October 1, 19~6, ~o no
mvail, and it further appearing that the contractor a~d
)~her parties to whom the Town is obligated on account of
~ S~et Improvement work are Wtlll:~g to accept bonds in
~u of cash, .therefore on mo~ion duly second, ed and carried,
he following resolution was unanimously adopted:
Whereas, the Town Co--lesion of the Town of ~oynton,
?rida, la pursuance of a certain notice ~olished in the
~ ~each Post, a ~ewsp=per publishes la p~ ~each County,
~rida, did meet in special session on ~he 2Zrd day of
;~ary, a. D. 1927, for the ~urpose of receiving 0ids
the sale of $550,000.00 par value of Street ~P~veme~T
ds of said Town, u~er date of UcTober 1, 1927; and,
Whereas, ~ bids were received on said date~
4O0
said bonds; and,
Whereas, diligent effort has been ~ade since the
E3rd day of l~ebruary, 1927, to dispose of said bonds; and,
Whereas, White Co~struction Company, which holds
a contract for the improvements conte,,plated under said
issue has suomitted a written proposal to accept bonds in
payment for such work;
Therefore, ~e It Resolved by the Town 'Commission
of the '~'own of Boynton, Florida, that the l~roposal of White
0onstruc'tion Company, as this day submitted, be and the
sa~e is hereoy accepted, and the Town 01erk of the Town
of Boynton, ~'lorida, ~e and he is hereby authorized to
deliver unto the said White Construction Compan$ Such bonds
as will repay the moneys due said White Oonstruotion
Oompar~v, according to the Engiaeer,s estimate, and there-
after from time to time, according to the Engineer,s es-
t imate; and,
401
~e It ~rther Resolved that the l'own X'reasurer
~hall upon deliver~.~ of any or all of said Oonds, from time
~o time, demand a receipt from the respective party herein
mntioaed, showing the amou,~t, mumber, denomisation, date
~d maturi.~y of each of said oonds, Which shall also in-
Xude a receipt as p~Ayme~_~t ia full in accordance with the
roposals this day su~mitted.
Soonded and carried, the meeting adJour~ed.
-' "'N~or' k ~ ' '
Vt ~e~ayo~ ~
~':~ere Oeing no further business, on motion duly