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Road and Bridge District No. 4 of Indian River County, Florida, with duties as provided
<br />by the laws of the State of Florida.
<br />RESOLVED FURTHER, that each of said bond Trustees shall give bond as provided by law
<br />in the penal sum of $25,000.
<br />RESOLVED FURTHER, that each of said Trustees shall receive as their compensation the
<br />sum of $25.00 per year and shall also be reimbursed for sums expended for bookkeeping
<br />and office expenses, including cost of premiums on their surety bonds.
<br />The Chairman announced that the hour of 2:00 P.M. having arrived it was now in
<br />order to open sealed bids for the purchase of $490,000.00 Bonds of Special Road and Bridge
<br />District No. 4 of Indian River County, Florida.
<br />Thereupon the following sealed bids for said bonds were opened and read, the name o
<br />the bidder and the amount bid being given.
<br />Fort Pierce Bank & Trust Co $480,690.00
<br />Vero Bank & Trust Company 478,740.00
<br />Stein Bros., Walter Woody &
<br />Heiminger, and Thompson,Kent
<br />& Grace for $300,000 bonds only 283,500.00
<br />Each of the foregoing bods were carefully considered, after which on motion duly
<br />made, seconded and carried by unanimous vote the following resolutions were adopted.
<br />WHEREAS the bid of Fort Pierce Bank & Trust Company of Fort Pierce, Fla. for the
<br />purchase of $490,000.00 bonds of Special Road and Bridge District No. 4 of Indian River
<br />County, Florida, is the highest and best bid received by this Board for said bonds and
<br />in the judgment of this Board it is to the best interest of the tax payers and citizens
<br />that said bid should be accepted.
<br />THEREFORE BE IT RESOLVED, that the said bid of said Forts Pierce Bank & Trust Co.,
<br />be and the same is hereby accepted and said bonds are hereby awarded to said bidder upon
<br />the terms set forth in said bid.
<br />RESOLVED FURTHER, That the Chairman and Clerk of this Board are hereby authorized
<br />and directed to execute said bonds and to deliver the same to said purchasers upon
<br />receipt of the purchase price therefor.
<br />RESOLVED FURTHER, that the proceeds of the sale of said Bonds shall be paid over to
<br />the Trustees for said bonds.
<br />The following is a true copy of the accepted bid for said Bonds:
<br />"Vero Beach, Florida. October 6, 1925.
<br />Board of County Commissioners,
<br />Indian River County, Florida.
<br />Gentlemen: -
<br />For the Four Hundred ninety thousand dollars ($490,000.00) of Road and
<br />Bridge Bonds of Special Road and Bridge District No. 4, Indian River County, Florida,
<br />offered for sale this date, said bonds to bear interest at the rate of 6% per annum,
<br />payable semi-annually, principal and semi-annual interest payable at the U.S.Eortgage. &
<br />Trust Company, New York N.Y. bonds are to be of $1,000.00 denominations, and mature
<br />serially July 1, 1926 to July 1, 1955, inclusive as set forth in your notice of sale,
<br />we will pay you in current money upon delivery of the bonds to us a price of Four hundre
<br />eighty thousand and six hundred ninety dollars 0480,690.00), and in addition thereto he
<br />will pay accrued interest from date of said bonds to date of delivery.
<br />We will take up and pay for these bonds when delivered to us at the Atlantic Nation
<br />Bank of Jacksonville, Florida, said bonds to be accompanied by the approving opinion of
<br />Hon. John C. Thomson, New York, together with a certified transcript of proceedings upon
<br />which said opinion is based.
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