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HomeMy WebLinkAboutMinutes_Regular_08/13/1964 MINUTES OF A SPECIAL N JMITIIIG OF THE COUNCIUCIN OF TIIE VILUDE OF TEQUESt. A Special Meeting of the Councilmen of the Village of Tequesta was held Thursday, August 13, 1964 at 8:05 P.M. at the Church of the Good Shepherd, Seabrook road. Councilmen present were: Messrs. Valier, Turnbull, Bowden, Stewart and Cornelius. Also present was Robert Harp, Village Clerk. Three residents and taxpayers were in the audience. Mayer Vaiier advised the r..eeting that the Village Attorney, Wiliam A. Lord, had called him this morning saying that the firm of Sullivan, Nelson & Goss, Inc. had called him and suggested that the Village Council take Lmiediate action on the Village Hall Bond Issue since the seriousness of the Southeast Asia situation could have an effect on the purchase prices as quoted and too long a delay could even cause a withdrawal of the offer. Councilman Cornelius objected to this matter being brought up at this Special Meeting since the meeting was called for the sole purpose of discussing and adopting the 1964 Tax Millage. He further stated that the Council had also agreed to present the offers of both Bond Counsel Firms at the meeting to be held September 14, 1964 when considerable Village pro- perty owners were expected to be present. The Mayor asked the Clerk to review the proposals which had been received for the financing of the Village Hall by a $148,000. Capital Improvement Revenue Bond Issue: oodbod C o., Miami, Flor 10 Approximately level_ annual dents service payments over a period of 1G ;rears. 2.) Security will consist of a pledge of Utilities Tax, Franchise Tax and Cigarette Tax proceeds. 3.) Goodbody & Co. to pay all necessary expenses in- volved in validation, printing, execution and "A delivery of the bonds, and the fee of Bond Counsel. \ 4.) Goodbody & Co. to pay the Village $140,605. for the $148,000, par value bonds with coupon rates which will result in an interest co t of 4 5 %. Sulliv n Nelson & Goss Iuc 7t ?alm each 0', Florida `1 .� .lest_ _ 0 1. Approxiiaate level annual debt service payments over a period of 16 years. , 2.) Bonds will be secured by a pledge of the Utilities Taxes, Franchise Tax and Cigarette Wax now being � levied. 3.) Provision will be made for redeemption of bonds maturing in the years 1975 to 1980, both inclu- sive, prior to maturity on October 1, 1974 or any interest payment date a premiun of 3% in 1974 de- creasing to 1% if redeemed prior to maturity. 4.) Sullivan, Nelson & Goss, Inc. will pay for ser- vices of Bond Attorneys; cost of printing bonds, legal advertising in connection with validation proceedings and delivery expenses. 5.) Sullivan, Nelson & Goss, Inc. to pay the Village $141,425. and accrued interest for the $148,000. Bond Issue with an interest cost of 4.146%. ) y Bowden moved, seconded b y Turnbull that the offer of Sullivan Nelson & Goss, Inc of Wst Palm Beach Florz a o pur , e se an assue of $148,000. - Excise Tax Revenue Eonds of the Village of Tequesta, Florida to be dated October 1, 1961• and to mature in 1980 (16 years) for the aggregate sum of $141,425.00 and accrued interest, as pro- posed in the letter dated July 27, 1964 from Sullivan Nelson and Goss, Inc., be accepted and the Mayor and Clerk be authorized to accept this proposal for the Village of Tequesta. Mayor Valier called for the vote which was as follows: Bowden For the Resolution Valier For the Resolution Turnbull For the Resolution Stewart Against the Resolution Cornelius Against the Resolution Therefore the motion passed 3 - 2. MINUTES OF A SPECIAL MEzi ING OF x^IlE COONCILWIN OF THE VILLAGE OF TEQtT3T4 AUGUST 13, 1964 PAGE 2 Mayor Valier stated the next iter: for discussion Eras the millage rate for 1964. A discussion ensued on the pros and cons and merits of reducing the millage in face of the building of a Village Hall. The proposed budget figures as presented at the regular Village meeting were reviewed and discussed. Following the discussion Cornelius moved that the Tax Millage rate for 1964 be set at 22 mills. The motion did not get a second and therefore the motion died. Bowden then moved, seconded by Turnbull that the tax nilla.ge rate for 1964 be set at 3 mills. The vote on the motion was as follows: Valier For the Motion Bowden For the Motion Turnbull For the Motion Stewart For the Notion Cornelius Against the Motion Therefore the motion passed 4 - 1 and the Tax Collector was to be so notified. Cornelius moved, seconded by Bowden and passed, that the Village Manager contact Ford Sanitation, Inc. and obtain a price for the pickup of garbage at the house; not the street line, to be presented to the Council at the next Regular Meeting. There being no further business, the meeting eras adjourned at 8:50 P.M. Respec ally submitted :o cert I3a r Village Clerk M