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tHUNSDAYt 3 AE't#Y 16th 19360
Pursuant to duly adopted motion of adjournment of regular meeting of the Board of
County Commissioners held January 7, 1936, the Board of County Commissioners of Indian River
County, Florida met in an adjourned regular meeting of said Board at the Indian River County
Court House in 'Pero Beach, Floraa at the hour of 3,00 o'clock P. M., January 16, 1936.
The meeting was called to order by J. J. P. Hamilton, Chairman, and upon roll call
all members of the Board of County Commissioners, namely, Commissioners Helseth, Mudge, Poole,
Vickers and Hamilton answered present. Miles Warren, Clerk of the Circuit Coin=t and ex -officio
Clerk of the Board of County Commissioners, and Sheriff William W. Frick were also present.
A resolution authorising and providing for the issuance of general obligation bonds of the Coun
of Indian River in the aggregate principal amount of $45,500000 for the purpose of financing the
construction of a Court House in amd for Indian River County, Florida was proposed by Commission
-er E. P. Poole and read in full as followst
A RESOLUTION AUTHORIZING AND PROVIDING FOR THE ISSUANCE OF GERMRAL
OBLIGATION BONDS OF ME COUNTY OF INDIAN RIVER, FLORIDA, IN THE
AGGREGATE PRINCIPAL AMOUNT OF 0450500 FOR THE PURPOSE OF FINANCING
TEE CONSTRUCTION OF A COURT HOUSE IN AND FOR INDIAN RIVER COUBWO
FIORIDAO
W1ZRr.g, a Resolution was duly passed by the Board of County Commissioners of Indian River
County, Florida, November 14, 1935, determining the expediency of constructing a county court
Ihouse and providing for an election upon the issuance of $45,500 of general obligation bonds of
the County of Indian River, Florida,, for financing such construction, amd
WMIRRAS, an election was duly held upon the question of the issuance of said bends on
December 16, 19350 which election resulted in a majority of the freeholders of Indian River
County, who were qualified electors and residing in said county participating, and in a majority)
vote of those participating in favor of the issuance CC said bonds for said purpose;
M . �. r- * o f s i %' �. 111(1 . 'V� w �' ��� t. �� ' 1 7i�� ' : �' r a• .i. w '�'
Section 1. There shall be constructed a county court house -in and for the County
of Indian River, Florida,, as contemplated by the plans, specifications and maps therefor pre-
pared by W. H„ Garns & Son, consulting engineer, and now on file in the office of the Clerk of
said County. Said plans, specifications and maps referred to are hereby adopted and rade a part
of this Resolution as if fully copied herein.
Section 2. To provide for the payment of the cost, in excess of the grant to be
made to the County of Indian River, Florida, by the United States Goverment, of constructing
said county cQurt house as described in Section 1 hereof, there shall be issued general obli-
gation bonds of the County of, Indian River, Florida, in the aggregate principal amount of
$45,500 for the purpose of financing the construction of said court house. Said bonds shall be
dated September 1, -1935, numbered consecutively from one to forty six inclusive in order of
maturity, of the denomination of $1,,000,, except bond No. 1, which shall be of the denomination
of $500, shall
bear interest
at the
rate of four per
centum (4%) per
annum payable on March I
and September 1
in each year,
first
interest payable
March 10 19369
shell be payable at tha
Indian River Citrus Bank, Vero _$eaoh, Florida, or, at the option of the holder, at the Chemical
Bank & Trust. Company Bank in New York, N. Y., shall be redeemable at the option of the County
in inverse numerical order at par plus accrued interest on any interest payment date after
publication once each week for four consecutive weeks in a financial newspaper published in New'
York, N. Y., of notice of intention to redeem the bonds specified in said notice, first publi-
cation of such notice to "be not more than 64 days nor less than 30 days prior to the redemption
date, shall be registerable at the option of the Molder as to principal only, amd shall be
11serial coupon bonds maturing over a period of 19 years on September 1 in the years and amounts
as follows:
20
Year
Amount
Year
.amount
Year
AW=t
193Y
4 500
1943
02,000
1949
03,000
2938
18000
1944
20,000
1950
31,DOO
1939
1$000
1945
29 000.
1951
30.000
1940
20000
1946
20000,
1952
40000
1941
2, 000
19417
2$,000
1953
4,000
194.2
29000
1948
2,000,
1954
4j000
1955
40000
The said bonds shall be signed in the same of the County of Indian River,
Florida, by the, Chairman of the Board of County Commissioners of Indian River Oounty, Florida,
and sealed with the corporate seal of said Board,.attested by the
Clerk of said Board; and
the interest coupons attached to said bonds shall be executed in==t'he name of said County by the
facsimile signatures of said Chairman and said Clerk.
Section 3, The bonds of $1,000 denomination and coupons attached thereto shall
be in substantially the following form, to -wit:
No.
$11,000
UNITED STATES OF WRICA
•
The County of Indian River, a municipal corporation of the State of Florida,
for value received hereby promises to pay to bearer, or, if this bond be registered as herein-
after provided, to the registered holder hereof, the sum. of OES- THOUSAND DO1108 (619 000)
on the first day of September, l9 , if the same is not redeemed prior thereto as hereinafter
provided, and to pay interest thereon at the rate of four percentum (4%) per annum on Burch l
and September I in each year until maturity or redemption of the principal sum hereof, upon the
presentation and surrender of the annexed interest coupons as they severally become due. Both
interest and principal are payable at The Indian River Citrus Bank, Vero Beach, Florida, or, at
the option of the holder, at the Chemical Bank & Trust Company Bank in New York, N. Y., in My
coinor currency which on the respective dates of payment of the setae is legal tender for the
payment, of public and private debts. For the punctual payment of this bond, with interest herec
as aforesaid, and for the levy of taxes upon all the taxable property in said County in a sura
sufficient for that purpose, the full faith and credit of said County are hereby irrevocably
e
ple=dged,
This bond is one of an authorized issue limited to an aggregate principal amount
of Forty-five Thousand Five Einfired Dollars ($45,500) all of lite date end tenor except as to
number, amount and maturity, authorized to be issued by said County under the authority of and
in full compliance with the Constitution mad Statutes of the State of Florida, for the purpose
of constructing a court house in and for the County of Indian River, Florida,
This bond may be registered as to principal alone in accordance with the pro-
visions endorsed hereon.
The issue of bonds of which this bond in one may be redeemed, at the option of
the County, in inverse numerical order at par plus accrued interest on any interest payment
date after publication once each week for four consecutive weeks in a financial newspaper
published in New York, N. Y„ of notice of intention to redeem the bonds specified in said
notice, first publication of said notice shall be not more than 60 days nor less than 30 days
prior to the redemption date.
IT IS REMY CERTIFIED, RECITED SAND DECLARED that all acts, conditions and
things required by the Constitution and Statutes of the State of Florida and by the Resolutions
of the County of Indian River, Florida, to exist, happen and be performed precedent to and in
the issuance of this bond, have existed, have happened and been performed in due time, form and
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Ila required by laws, and the amount of this band, together with all other obligations of said
ounty, does not exceed any limit prescribed by the Constitution or Statutes of the Mate of
orida. That due provision has been made to levy annually, by tax upon the taxable property
n said County a sum sufficient to pay the interest and the principal of this bond and the
ssue of which it is one as the same respectively become due.
IN WITNESS WBEREOF, the Board of County Commissioners of Indian River County,
Florida, has caused this Certificate to be signed in the name of the County of Indian River,
Florida., by its Chairman and its corporate seal to be hereto affixed and attested by its Clerk,
and the interest coupons annexed hereto to be executed in the name of said County by the fac-
simile signatures of said Chairman and Clerk, and this bond to be dated the first day of
Sept -bar, 1935.
(SEAL) - COUlIITY OF INDIAN RIVER, FLORIDA
By
TEST: Chairman, Board of County Commissioners
of Indian River County, Florida
Clerks Board of County Commissioners
f Indian River County, Florida
(VALIDATION IMDoNT)
Validated and confirmed by decree of the Circuit Court of the Ninth Judicial
'Circuit in and for Indian River County, Florida, rendered on the day of , 1936,
IN WITEWS MMMOF9 I have hereunto set my hand awd affixed the seal of said Cir-
cuit Court this day of 1936.
Clerk,, Circuit. Court in and for Indian
River County' Florida.
(CERTIFICATE OF REGISTRATION)
This bond may be registered as to principal alone on the books of the County of
Indian River, Florida, by the: Clerk of the Board of County Commidsioners of Indian River County,
Florida, ns registrar, or by such other registrar as may be appointed by the Board of County
Commissioners of Indian River County, and smoh registration shall be noted hereon by said regis-
trar, after which no transfer of this certificate shall be valid unless made on said books by
the registered owner in person or by his duly authorized attorney and such transfer endorsed
hereon by said registrar. This certificate may be discharged from registration by registered
sfer to bearer and thereupon transferability by delivery shall be restored, but this eer-
ificate may again from time to time be registered or transferred to bearer as before. Regis-
tration of this certificate shall not affect the negotiability of the coupons hereunto attached
said coupons shall continue to be transferable by delivery and shall remain payable to
bearer
Date of Registration
Registered Owner
( COUPON)
Registrar
No. 020.00
On the first day of 19 provided the bond to Yuich this
coupon is appended has not been redeemed prior thereto, the County of Indian River, Florida,
will pay to the bearer hereof at The Indian River Citrus: Bank, Vero Beach, Florida, or, at the
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option of the holder, at Chemical Bank & Trust Company Bank in New York, X. Y., Twenty Dollars
(420.00) in any coin or currency, v ich# on the date of payment of this coupon is legal tender
for the payment of public and private debts, being six months interest then due on its Court
House Bond dated September 1, 1935, and numbered .
COUNTY OF INDIAN RMRj FLORIDA
'By
Chairman,, Board ofi Countyy CoM.issioners
of Indian River County, Florida
Culerxo boara or younzy Commissioners
of Indian River County, Florida.
Bond bio. 1 of 0500 denomination and coupons attached thereto shall be in sub-
stantially the form set out above, except as to the amount of the interest and principal.
Section 4. Said bonds shall be registerable as to principal alone in accordance.
with the provisions for registration hereinabove provided for endorsement upon said bonds, and
the Clerk of the Board of County Commissioners of Indian River County, Florida, is hereby ap-
pointed and designated Registrar for the purpose of registering said bonds, No charge shall be
made to any holder of any bonds for the privilege of registration herein granted.
Section 5. The Chairman of the Board of County Commissioners ct Indian River
County is hereby authorized to execute the bonds in the name of the County of Indian River,
Florida, and the Clerk of said Board is hereby authorized and directed to affix the seal c' said
Board to the bonds and to attest such seal. The Chairman and the Cork ct said Bm.rd are hereby
authorized and directed to cause the coupons attached to said bonds to be executed in the new
of said County by their respective facsimile signatures.
Section 6. The bonds herein authorized shall be payable as to both principal
and interest from ad valorem taxes which shall be levied annually upon an taxable property in
the County in a sum sufficient to pay the interest upon said bonds and also a sum sufficient to
raise the amount annually required as a sinking fund to meet the principal of the bonds, The
full faith and credit of the County of Indian River# Florida are hereby irrevocably pledged to
the levy of said tax and to the punctual payment of the principal of and interest on said bonds.
Section 7. There is hereby created a sinking fund for the payment of the
principal of and interest on said bonds which fund shall be known as "Indian River County Court
House Bonds Sinking Fund",
There shall be levied in each of the following years a tax sufficient to produce
the amount . set opposite the respective years to wit:s
1936
1937
1938
1939
1940
1941
1942
1943
1944
1945
•1946
1947
1948
1949
1950
1951
1952
1953
1954
$4140 �-
2800
2?60 ✓
3720--
3640,"-
3560
72'0✓3640,'-
3560
3480
3400
3350 '--
3E40
3160
3080
4000 <
3880
3760
4640
4480
4320
4160
such amounts being the amounts required to be levied in each of the respective
years to provide a sinking fund for the payment of the interest upon said bonds and to meet the
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incipal of said bonds as the same respectively become due.
The proceeds collected from the levy of said taxes shall be deposited in the Indian
Iver County Court House Bonds Sinking Fund and shall be used for no -purpose other than the
ayment of the principal of -and interest on said bonds as and when the same respectively become
Iduee
Section 8. This resolution sahll take effect immediately.
The motion for the adoption of the resolution was seconded by Cem.ssioner Vickers
land upon roll call the vote was as follows:
jAyes: Commissioners Ston, Mudge, Vickers, Poole and Helseth..
Rays: None.
The chairman, declared the resolution duly adopted.
Commissioner Vickers then proposed the rollowing resolution which was read in full as
follove:
BE IT RESOLVED by the Board of County Commissioners of the County of Indian River,
Florida:
That pursuant to authority given by the freeholders of Indian River County, Florida., at
an election held December 169 1935, at which the issuance of general obligation bonds of the
County of Indian River, Florida., in the aggregate principal amount of 945,500 for the purpose
of financing the conetruction of a. Court House in and for Indian River County was authorized,
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$389500 of said bonds be sold at this time, and that the following notice of sale of wird
bonds be published in the Vero Beach Press -Journal and in the issues of such paper dated
Jama.ry 17, 24, 319 February 7, and 14, 19386
NOTIC OF 'SALE OF -BONDS
Bids will 4ba re vived by the (Board of
County Commissioners of Ind*n 'River
* County; Floi ida, at the office of the Clerk.
of the Cir uit urt of Indin River'
County in Vero eact, Florid up to
two o'clock P. M. It. S. T. February 17,
1936, ,at ' ich , time all bids 11 received
Will be pub ,iely opened and read aloud,
for the purchase 'p';of general obligation
bonds of the County of Indian River,
Florida, in the aggregate principal am-
ount of $3400 (being part of an auth-
orized issue of $464`800).
Said bon are df the denomination of
$1,000, except bon No. 1 which is of
the denomin tion 'f $600, bear interest
at, the rate of for liar eentu . ob%)
Per annum i Kayable Ion March 1 4nd Sep-
tember' 1 in �eh yhar, first interest pay-
able March 1931 are payable' at the
office of The India'J River .Citr`� Bank,
Vero Beach, 'l Florictt, or, at the option
of the holders at . Chemical Bank '& Trust
i
Company in I New Cork, N. Y. +are re-
deemable at the op�ion of the County in
inT-erse numerical order at par plus' ac-
cruedinterest on 4ny interest �aymen4
date after I ublicatian once escla week
for four coin adtaitive, weeks In a Ananeial
n010 yspaperiished1 in New 3iorisl1 N. X.,
of 16006 of I ltent%to redeem the bonds
spe619ed in (laid n4fee, first publleatlon
of such noti to i e not more *.0 60
days nor lead � than .p.90 days prior' to the
redemption d}ite, are registerable at the
option of the l holderi, as to principal only,,
and are said L coupon bonds maturing:
$500 Septem�'�Qir 1, 1837; $1000 September
1, 1938-1939 inclusive; $2000 September
1, 1940-1951.Inaluside and $3000 Septem-
ber 1, 1952,1665 ingkusive.
Any and a bidsi; may , be rejected if
the Board of lCountj 03mmissio4ieshall ,
deem it to th I best i�terest of the County
so to da p;
1 11
aid oi' County Comitils-
sio ere o Indfart. Rivor
i;Florida.
Tan 17 24 311 Feb. 7 & 14
Bids will be received by the Board of County Commissioners of Indian River County,Flo-
rido,, at the office of the Clerk of the Circuit Court of Indian River County in Ve ro. Beach,
Florida., up to two 01e10ck P.m. B.B.T.gebruvxy 17, 1936, at which time all biers received wall
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be publicly opened and read aloud, for the purchase of general obligation bonds of the County
of Indian River, Florida, in the aggregate principal amount of ;p3d,500. (being pert of an
authorized issue of V4b,b00.) .
Said bonds are of the demomi natio n of V1,000 except bond No, 1 which is of the denomina-
tion of X500, bear interest at tie rote of four per centum (47) per annum payable on March 1
and September 1 in each year, first interest payable March 1, 1936, are payable at' the office
of The Indian River Citrus Bank, Vero eeaahq Florida, or, at the option of the holder, at
Chemical Bank & 'frust Company in bew Yom, N,,Y. are redeemable at the option of the County in
inverse mmerica.l order at par plus accrued interest on aW interest payment date after
publication once each week for four consecutive weeks in a financial newspaper published in
New York, X,Y.of notice of intention to redeem the bonds specified in said notice, first
publication of such notice to be not more than 60 days nor less than 30 days prior to the
redemption date, are registerable at the option of the holder as to principal only, and are
aerial coupon bonds maturing: 0500. September 1, 1937; 01000 -September 1, 1938-1939 inclusive)
02000 'September l,. 1940-1951 inclusive and *3000 September 1, 1952..1955 inclusive.
Any and all bide may be rejected if the Board of County Commissioners shall deem it to
the beet interest of the County so to do.
Board of County Commissioners of
Indian: River County, Florida,.
Frmk C Vickers
E. P. Poole
Edwin A- He lseth
R. E. ladge
J .J.P.Hami.lton
The motion for the adoption of the resolution was seconded by Commissioner Poole and the
roll ssahlcmlled as follows: ayes: Commissioner -s Hamilton; Poole; Helseth; ]fudge and Vickers.
Nayss None. The Chairman declared the resolution adopted.
There being no further business on motion made, seconded and carried the Board then
adjourned until the regular meeting to be held Tuesday, February 4th 1936,
ATTEST:
C e r k.
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