HomeMy WebLinkAboutMinutes_Special Meeting_08/03/1964 MINUTEC OF TIi' SPECIAL METING OF THE
COUNCILMCIT OF THE VILLAGE OF TE'.?UESTA, FLORIDA
A Special Meeting of the Councilmen of the Village of Tequesta
was held Monday, August 3, 1964 at 8:00 P.M. at the residence of
Mayor Robert C. Valier, 239 liver Drive, Tequesta. Councilmen pre-
sent were: Messrs. Valier, Turnbull, Z ov den, Cornelius, and Stewart.
Also present was Robert Harp, Village Clerk. A signed Waiver of
Notice is attached to and a part of these Minutes.
Mayor Valier advised that the meeting had been called for the
purpose of discussing and adopting a resolution to provide for the
financing of the proposed capital improvements.
He submitted a proposal froi: Sullivan, Nelson & Goss, Inc.
for a proposed issue of $148,000. - Excise Tax Plevenue Bonds to be
secured by a pledge of the Utilities Taxes, Franchise Tax and Cigar-
ette Tax. Said issue to be for a teml of 16 gears. Sullivan, Nelson
and Goss, Inc. proposed to purchase the issue for the sum of $141
and accrued interest. This amounts to a price of $95.5574. The
interest rate would be a pro:= ixiately 4 %. In addition to the cash
payment for the Bonds, they `could assume the liability for and pay
for the following:
1. The services or Caldwell, Trimble & Mitchell, New
York Bond Attorneys, tTho will approve the issue
and render their orinion.
2. The cost of printing the Bonds.
3. Legal advertising in connection with validation
proceedings.
4. Delivery expenses.
The issue of $148,000. would provie;e funds for the following
purposes:
Construction $111,000.
Landscape 5,000.
Generator 2,000.
Furniture 5,000.
Architectls Fee 6,000.
Attorney 1,000.
Bond Discount 6,575.
Contingencies 119425.
iL2,000.
Councilmen Cornelius asked if a firm offer had been received
from Goodbody & Co. and was advised that one had not been received.
The Clerk read the letter of April 24, 1964 from Mr. C. T. McCreedy
of Goodbody & Co. which outlined the terms on which they would act as
Financial Consultant to the Village in respect to proposed - financing
of Capital_ Improvements. It was the general feeling of all Councilmen
that Goodbody & Co. should be given an opportunity to submit a definite
proposal based upon a Bond Issue of $148,000. Such proposal would
be without the Village entering into an agreement as proposed in
their letter. Mayor Valier stated he would contact Goodbody Co.
and request a definite proposal from them.
The Meeting was adjourned at 9:00 P.M.
Respectfully Submitted
' J
Robert Harp
Village Clerk