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MSAM JUNK 15th.., 1937
The Board of County Commissioners in and for Indian giver County, Florida, met
at the Court House in Vero Beach, in regular adjourned session, at 10:00 o'clock A, M. Tues-
day, June 15th. 1937, with the following members present; A, E, Mudge, Chairman; E,P, Poole;
Edwin A. Helseth; Frank C, Vickers and S, E. Glover. Also present were arm. Frick, Sheriff,
fherman a. Smith Jr,,, Attorney,. and Douglas Baker, Clerk,
It was announced by the Chairman that the time had arrived, namely 10;00 o'clock
A..M,, for the opening of sealed bids in the office of the Clerk of the Circuit Court of Indian
River County, up to 10:00 o'clock A,M., June 15th4' 1937 for one tractor with mowing machine
attachment complete for Indian River County in accordance with specifications as invited by
public notice published in the Vero Beach Press -Journal, a newspaper of general circulation
published at Vero beach, Indian River County, Florida, and sworn proof of publication of said
public notice being herewith filed and reading as follows,
to -wit:
?-- - � L E
AEFidav'It of Publication SUN 51937
COUNTY OF INDIAN RIVER
STATE OF FLORIDA
Personally before me, the undersigned, an officer ''
authorized under the laws of said State to administer
oaths, came J. J. Schumann, business manager of the
Vero Beach Press -Journal, a newspaper published in Vero NOTICE OF RECRxVING BIDS
Beach, Indian River County, Florida, who, being first
duly sworn, says that the Vero Beach Press -Journal is a (' Notice i8 hereby given that the soave
I of County Commissioners of Indian River
newspaper which has been continuously published at least County, Florida will receive bids in the
once a week, and which has been entered as second class office of the Clerk of the Circuit Court in
mail matter, in Vero Beach, Indian River County, Flori the Court House at Vero Beach, Florida
da, for a period of more than one yearnext preceding the until the hour of 10:oo o'clock A. M.
first insertion of this publication; that the advertisement June ls, 1957 and immediately thereafter
a copy of which is hereto :attached, was published in the will publicly open said bids for the pur-
Vero Beach Press -Journal chase by Indian River County of one
tractor with mowing machine attachment
complete and fitted with rubber tires and
for... .:.......... consecutive weeks, as follows, mowing machine to have five, six or seven
to -wit: ifoot blades. Prices to be on both cash
and term basis. Said. Board reserves the
to r
. bight elect any and all bids
BOARD COUNTY
COX SSIONERS OF
v . I INDIAN RIVE COUNTY
..
FLORIDA.
By R. E. Mudge, Chairman
Attest: Douglas Baker, Clerk
.. ......................q.
... May Z& zt � I a d June A
- I
A-
g''.. Business Manager.
Sworn to and subscribed before me, this....... .
day of.. °x ...............1931.,..
I .
A.r"uit Court,
Indian River County, Florida
I '
Thereupon the following"bids were then publicly opened and read aloud, to wit:
Shaffer & MacDonald Hardward Co., ( John Deere) 10150.00
Luther and Knight, (Silver Ping) 190501,00
Luther and Knight. (Oliver ) 19372,50
J. B Brower, Inc„ . (McCormick -Deering) ls,127 # 70
After watching the several machines in action and aft�or;. areful consideration
on motion made._ by .S, ,R, Glover seconded by Frank C, Vickers and c6tkiaa thq� Board accepted
the bid submitted by J, B, Brewer, Inc., for the McCormack -veering maclAine at -a price of
019127!70 with the priviledge of paying 0227.70 cash and the balPmce,�,.A six and twelve months
with no interest and with the understanding that the machine be full 'insured.
Un Motion made by S, E. Glover seconded by Edwin Al Fialseth and carried it was
ordered that the road be graded from road No. 30 to. Casen*s plac® ar�cl also tca grade the road
120
west of ftbasso to theproperty of D.C* and W.F. Cox.
Mr. R. D. Carter appeared before the Board with referrenee to ctaning out ditch
running west of Wabasso and Mr. Baird, pepresenting the Drainage District, appeared before
the Board regarding several culverts that had been placed too high for good drainage and
requested that the Board take steps to remedy the ,trouble. The Board advised both of these
gentlemen that on July 6th. next, a definite date would be set for Road and Bridge inspection
and at that time would decide just what action could and woRl.d be takenq
Ar. R. A, Gassman, representing Electrolux Cleaners, appeared before the Board
gave a demonstration but no action was taken.
Rotary Public Bond for Bertha A. Baffield, in the amount of $500.00 with American
Surety Company as surities was approved„
A letter was read to the Board from Mrs. C. S. Rice requesting that a "QUIET
be designated for the EWPITAL by placing signs on each sde of the hospital on the highway,
It was reported by the Sheriff that such signs had recently been placed.
On motion made by S. E. Glover seconded by Frank C, Vickers and carried ia. A.
MoEachron, Fellsmere, Fla,, was appointed agricultural and manufactures enumerator for Indian
River Co.
It was moved by Edwin A. helseth seconded by Frank C. Vickers and carried that Cl
A, Mitchell, Attorney for the Board, and .Douglas Baker, Clerk be authorized to make s0ttlement
for Court House Furniture and Fixtures by using Court house Londs available for thatpurpose.
Zdwin A. Helseth reported that he had investigated the penninsular road to wi
a mile of the south County line and that in his opinion it would cost approximately 0300.00 to
brush out said road 10 feet wide from aiomar to the south iiounty line. It was moved by Edwin A.
Helseth seconded by S.E., Glover and carried that this work be done just as soon as possible.
Officials of Public Works Administration made an inspection of the Court House.
The party included F. A. Buck, state engineer and inspector; W,G, Young, assistant state e
and inspector; F. H. Wiegmyer, project engineer representing James E, Cotton, acting State dir-
ector for the administration- and Charles K, Kornay, resident engineer and inspector,
it was moved by S. E. Glover seconded by Frank C# Vickers and carried and J. Pi.
Baker was instructed to rebuild the jury box in the Court Room so that it would accomodate the
jury box chairs.
On motion made by Edwin A. Helseth seconded by S. E. Glover and carried the Bo
decided to advertise for bids on venetian blinds for the Courty House. Charles A. Mitchell,
attorney for the Board was instructed to prepare the notice,
"I\ RTS 0LUTI0X
V Commissioner Vickers introduced the following resolution and moved its adoption,
-to-wit:
Whereas, at this time tbare is held by the State Board of Administration and by
. V. Knott, State Treasurer as County Treasurer ex -officio and Treasurer of the State Board
of Administration, certain bonds and coupons heretofore issued by Special Road and Bridge
District No. 4 in Indian River County, Florida, and which bonds and coupons are obligations
of said Special. Road and Bridge District No. 4 in Indian River County, Florida and which
bonds and coupons have been heretofore purchased by the Board of County Commissioners of
-Indian River County, Florida through and by the State Board of Administraction and under to
provisions of the "Kanner Act"; and,
Whereas, said bonds and coupons so. hold and which have been heretofore purchased
under the provisions of said "Kanner A064 are subject to cancellation, therefore,
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X21 Be It Resolved by the Board of County Commissioners of Indian River County,
Florida that the said Board of Administration and V., V. Knott, Stat6 'Treasurer as County
Treasurer ex -officio and as Treasurer of the State Board of Administration, be, and they are,
herewith authorized and requested to cancel all bonds and coupons together with subsequent
coupons attached to said bonds now held by said State Board of Administration and by said
Treasurer and which bonds and coupons are obligations of Special Road and Bridge Ai stri ct
No, 4, in Indian River County, Florida and which have heretofore been purchased under and by
virtue of the provisions of the so-called "Kanner Act";
Be It Further Resolved that upon said bonds and coupons being so cancelled that
a certificate to such effect describing the bonds and coupons so cancelled be furnished to
the Board of County Commissioners of Indian River County, Florida.
The motion for the adoption of the resolution being duly seconded it was declared
adopted by the following vote:
Ayes: Mudge, Poole, Helseth, Glover and Vickers,
Nays: Bone.
to -wit;
I H S 0 L U T I 0 N
Commissioner Vickers introduced the following resolution and moved its adoption,
Whereas, at this time there is held by the State Boadd of Administration and
by W. V. Knott, State Treasurer as County Treasurer, ex -officio and `treasurer of the State
Board of Administration, certainbondsand coupons heretofore issued by Special Road and
Bridge District No. 4, in Indian River county, Florida# and ihich bonds and coupons have been
heretofore purchased by the Board of County Commissioners of Indian River County# Florida
acting on behalf of Special :goad and ]fridge District No 4, and which bonds and coupons have
heretofore been delivered to said State Board of Administration and said State Treasurer by
said Board of County Commissioners of Indian River County, Florida through its then Clerk, the
Honorable Miles Warren, and which bonds and coupons attached thereto or which have been
detached therefrom were issued under date of July 1, 1925 as part of an original issue of
0490,000.00 in principal sum and which bonds and coupons so deliv®red by said Board of
County Commissioners to said State Board of Administration and said State Treasurer are
specifically itemized as follows:
Aggregate Amount
Nos,
matw'citz Date
Aggre ate Principal Sum
28 and 29
1932
02000.00
43 to 48 inclusive
1934
6000.00
52 and 5�
1935
2000„00
689 69 and 70
1936
3000.00
89 to 93, both inclusive
1938
5000.00
103, 1040 1109 lie$ 113,
1-1-37
450.00
1149 1159 116, and 129
1939
9000,00
183 to 187 both inclusive
1943
5000.00
219' and 2'20 `
1945
2000000
226, 2400 241# 2429 2430
and 244
1946
6000,00
3270 3289 329
1950
3000,00
380 to 384, both inclusive
1952
5000„00
453
1954
1000,00
466 and 470
1955
2000.00
Total aggregate principal sum
of bonhS
10001040
.and which coupons so delivered to said State Board of
Administration and said State Treas-
ure
urer are particularly described as follows, to -wit:
Nos.
Aggregate Amount
it
1-1-34
02970,00
82
7,11-34
2460.00
75
1-1-35
9250.00
78
7-1-35
2340.00
52
1-1-36
1560000
11
7-1-36
330.00
15
1-1-37
450.00
Aggregate Sun, of Coupons
128M 0,
122
and,
Whereas, said bonds and coupons vbo�e described and which have been heretofore
purchased by said Board of County Commissioners are subject to cancellation and have in fact
been paid; therefore,
Be It Resolved that the Board of County Commissioners of Indian River County,
Florida, acting for and on behalf of Special. Road and Bridge District No, 4 in said County
does hereby instruct and request the State hoard of Administration and State Treasurer of the
State of Florida as the present custodian of said bonds and coupons to proceed to cancel each
and all of said bonds and coupons heretofore described including all. subsequent coupons atte
to said bonds hereinbefore described and that upon said bonds and coupons heretofore des-
cribed and said subsequent coupons attached to said bonds being cancelled as herein provided,
the said State Board of Administration or the said State `Measurer of the State of Florida
shall furnish to the Board of County Commissioners of Indian River County, zlorida, a
certificate of the fact of such cancellationo
he motion for the adoption of the resoltuion being duly seconded it wqs
declared adopted by the following vote:
Ayes: Mudge, Poole, Helseth, Glover and Vickers,
Nays: Hone*
RESOLUTION
The following resolution was introduced by Mr. Vickers, who moved its adoption,
which motion was seconded by Mr. Glover* and upon roll call the vote was as follows:
Ayes: Mudge, Vickers# Helseth, Poole, Mover
Nays: None
Absent :None
Not Voting: None
** 000 **
BE IT RESOLVED by the Board of County Commissioners for the County of Indian
River, State of Florida, in session duly assembled:
Section 1. That the Chairman of this Board be, and he is hereby, instructed
directed to execute the original and duplicate of the agreement set forth in Section S here-
of; and the Clerk of this Board be, 'and he is hereby, instructed and directed to attest the
signature of said Chairman on each of said instruments and affix the official seal of this
Board thereto*
Section„ 2. That the agreement shall be as follows:
AGREEMENT
THIS ® T, made and entered into this 15th day of June, A* D. 19579 by and
between R+► CRtMM & COMPANY, a Corporation, thereinafter referred to as "First Party')
and INDIAN RIVER COUNTY,'FLORIDA, SPECIAL ROAD AND BRIDGE DISTRICT N04, 4, thereinafter some-
times referred to a �Seeond Party' and sometimes referred to as "District") acting by and
through the Board of- Clot nty-Commipsioners for the County of Indian River, State of Florida,
thereinafter referred to as "Boarder):
WITNESSETH:
WHEREAS, First Party represents the holders of a very substantial portion of
the outstanding bonds of the said District; and
WSEREAS'Second Party deems it advisable to readjust and refund said bonded
indebtedness;
NOW, THEREFORE, in consideration of the hum of One Dollar ($1000) paid by each
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of the partied hereto to each of the other, receipt of which is hereby mutually acknowledged,
and in further consideration of the mutual benefits flowing to the parties hereto, it is here-
by mptualiy agreed as follows:
I. (A). That the entire outstanding principal of the funded indebtedness of the
said District shall be refunded in accordance with the terms and conditions hereinafter set
forth, which said indebtedness is generally and approximately described as follows:
Date of Interest Original Amount Amount
I.� Rate of Issue Outstanding
7-1-1925 6% $490,000.00 $4250000.00
(B) That accrued interest to the date of the refunding bonds of said Distri
shall be adjusted as follows: Evidences of all accrued interest to the said date of said re-
funding bonds as hereinafter specified shall be exchanged for refunding bonds on the basis of
par amount of refunding bonds --for an equal par amount of evidences of accrued interest as said
First Party is able to assemble said evidences for that purpose, said refunding bonds to be
exchanged for said evidences of accrued interest to be of identical tenor as those herein au-
thorized to be exchanged for the principal indebtedness of said District, said refunding bonds
being delivered in exchange to the nearest $1,000 of such accrued interest, with cash payment
of any differential calculated as if said differential were at the rate of 4% per annum.
o
II. (A) That there shall be issued by proper action of the Second Party refund -
Ing bonds of said District in an amount sufficient to refund,the interest and principal items
hereinabbve identified.
(B) That said bonds shall be executed as required by law and be placed on
deposit with the First National Bank of Quicago, Illinois, in escrow, under instructions from
Second Party that the refunding bonds shall be delivered to the holders of the securities de-
scribed in Section I. (A) hereof, and in exchange therefor, on the basis of par for par, both
principal and accrued interest to the date of the refunding bounds*
t a
III. That all of said refunding bonds shall be dated January I, 1937, and matur
on January 1, 1967,
IV. That all of said refunding bonds shall bear annual interest, payable semi-
annually at the following rates:
0 per annum for the first nine years;
5f per annum for the next succeeding eight years;
6% per annum thereafter until paid.
Provided that in case of default in the payment of interest on said refunding bonds or in case
of failure or refusal of the governing authority of said District to cause to be levied the
taxes provided to be levied for the interest and sinking fund of said refunding bonds, the
District shall be accorded a period of six months from the date of any such default$ defaults,
or failure to correct such default, defaults, or failure, and upon the inability or refusal to
make such correction and upon the declaration by the holders of at least 25% of the principal
bonds then outstanding all of said refunding bonds shall, at the option of the respective hold
era, revert to the original interest rate of 6% per annum, beginning with the date to which
interest had been paid prior to the happening of such default, defaults, or failure, and prc
< e
vision shall be made for the substitution of the bonds bearing the increased rate of interest
for the bonds proposed to be issued hereunder.
V* (A) That all of said Refunding Bonds shall be callable upon any interest pay
ment date at par plus accrued interest.
(B) That the option to call the bonds prior to maturity, if used, shall be
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exercised in the following manner: (1) the bonds shall be drawn by lot by the governing auth
ity of said District, the lots consisting of all outstanding bonds of the refunding issue: (2)
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notice of said redemption, specifying the bonds called, shall be filed at the place whereat the
principal and interest of said refunding bonds is payable at least thirty (30) days prior to
the redemption date and notice of intention to redeem said bonds shall be published once, not
more than sixty (60) nor less than thirty (30) days prior to the redemption date, in at least
two puhlioations, one of which shall be a newspaper having general circulation in said District
and the other shall be a financial journal pub3ished in the City of New York, New York.
VI, That for the purpose of adequately providing for the payment of the interest
on the refunding bonds, and for the creation of a sinking fund for the retirement of all of
said refunding bonds, the prooesdings'authorizing the issuance thereof shall: (1) conform to
the tax provision requirements of Chapter 15,7729 of the Laws of Florida, acts of 1931, and
such other law or laws as shall be required by the approving bond attorneys provided for herein
insofar as the saw may relate to the ace sllshment of this agreement; (2) contain legally
effective obligations and covenants on the part of the Second Party, for and on behalf of said
District, to and in favor of the holders of the respective refunding bonds, that, (a) in the
annual budget and ad valorem tax levy to be prepared and made in the year 1937, and continuing
each year thereafter until all of the refunding bonds have been retired, the annual interest
and sinking fund ourrect ad valorem tax levy shall be in an amount which will aggregate the sum
Of $361000.00, including and deducting therefrom any revenues other than from ad valorem taxes
which may be available and applicable, such tax to be levied and computed upon the extended and
finally equalized valuation of taxable property in the respective taxing units, and upon the
assumption that ninety-five per cent. (95fo) of the taxes levied and assessed for the purpose
will be collected; (b) the annual levies shall be increased when necessary to provide for the
actual interest maturities of the year next succeeding that in which the budget is being made
and prepared.
VII. That if at any time there is in the interest and sinking fund a000unt
$5,000.00 or more, over and'abo*e current interest requirements, after making reasonable allow-
anee for antioi�ated receipts, said funds shall be used by the governing authority of Second
Party for the purpose of purchasing refunding bonds. Said purchases shall'be made in the fol-
lowing manner:` (a) the governing authority of said District shall designate'a date, which sha
be not less than fifteen (15) nor more than forty (40) days from the time such date is designat
ed, at which time the governing authority will receive and consider in open session sealed
offerings of bonds of the refunding issue herein authorized; (b) the governing authority of said
District shall give written notice of this date to the First Party, and any bondholders so re-
questing in writing; (o) notice of the time and place of receiving said offerings shall be
published once, not less than ten (10) days before the designated time, in at least two publi-
cations one of which shall be a newspaper having general circulation in said District, and the
other shafl be a financial journal published in the City of New York, New York; (d) all avail-
able funds, as hereinabove determined, except such sums as will be neoessary to pay the cont
of this refunding program, as hereinafter set forth, shall be used to purchase bonds offered
at the lowest prices; PROVIDED, however, that if the governing authority of said District shall
be dissatisfied with any or all offers received, then it shall have the option to reject any or
all such -offers, and,`within thirty (30) days of such rejection, shall readvertise for addition
al sealed offerings, and the governing authority shall purchase the bonds offered at the lower
prices upon readvertisemeut, and PROVIDED that after each advertised purchase, the governing
authority may privately purchase additional bonds with subsequent surplus accumulations as long
as privatepurchasesmay be made on such basis as to assure a higher income yield than the high-
est yield calculated on bonds purchased pursuant to advertisement; PROVIDED, further, that the
governing authority of said District, at its own discretion, make purchases in accordance
with before the surplus reaches the identified.amount.
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VIII. That Second Party will take all actions deemed to be necessary in carrying
out the refunding program herein authorized to the end that the bonds to be issued will be gen-
eral obligations of the said District, and contain a pledge of .the full faith and credit of said
District for the prompt payment of the principal and interest on said refunding bonds, according
to their tenor, and pledge to the refunding bonds the identical tax base which was pledged to
the original bonds sought to be refunded.
U# (1) That First Party shall defray all expenses incident to: (1) assembling
the bonds proposed to be refunded; (2) Printing the refunding bonds, (3) representing Second
Party in legal proceedings to validate -said refunding bonds; (4) obtaining the approving opin-
ion of nationally recognized bond consel upon the issuance and validation of -the refunding 'bonds,
saidcounsel to be selected by First Party, (5) all other expenses in connection herewith which
may by approved by First Party.
(B) That within one week from the date hereof Second Party she" designate
and retain counsel to represent it until the purposes of this contract have been fulfilled, and
First Party shall indemnify Second Party for its cost in this connection, the total cost thereof
to be in an amount to be agreed upon between the parties hereto.
Z, That Second Party will reimburse First Party for expenses incurred and service
rendered in connection herewith in the following manner:
(A) That said First Party, or its assignee, shall be paid one (1f) per cent. on
the,par value of all of the outstanding bonds exchanged for refunding bonds hereunder during the
period beginning with the date hereof, and ending three years after date hereof, the above pay-
ment being made by said Second Party. Any additional compensation shall be collected by First '
Party from partiipipating bondholders.
(B). That as bonds of the original issues are exchanged for refunding bonds, the
Secretary of Second Party shall deliver to First Party certificates describing the bonds so ex-
changed, and certifying that, subject to the terms hereof, First Party is entitled to be paid
a definite sum which shall be recited° in the certificates as one (1%) per cent, of the par
of the bonds described therein.
(C) That payments on account of the fees herein specified shall be made from
any fund in the interest and sinking funds of the said District each sig (6) maths after the
interest then due on the refunding bonds has been paid, or at a prior date when, and to the ex-
tent that, the funds in hand exceed the amount necessary to pay the next succeeding semi-annual
interest maturity on said refunding bands, but the payments on account of said fees shall not
exceed one-third of the earned amount before one year from date hereof nor more than two-thirds
of the earned amount before two years from date hereof.
gI. That for a period of three (3) years from date hereof First Party is granted
exclusive authority to act for and on behalf of Second Party in all matters connected with or
relating to the exchange of presently outstanding bonds for refunding bonds.
M. That at such time as the First Party has the agreement on the part of the
holders of 75%. or more, of the bonds described herein and affected hereby to participate in the
refunding program.outlined, said First Party may, at any time thereafter, give published notice
in one or more financial journals that on and after thirty (30) days from the publication of t
notice, further agreements to participate may not be accepted except subject to an exchange
charge of not exceeding five (5%) per cent, of the par value of the bonds tendered, plus all
accrued Interest on the original bonds, which privilege, if exercised by First Party, will re-
lieve Second Party of its obligation to pay First Party one per cent, (1%) on the bonds excl
ed pursuant to this optional feature, but not otherwise, it being understood that no charge
. a .
be imposed upon a security holder until the owners of seventy-five per cent. (75%) of the
affected
bonds have meed to participate hereunder, and further that the charges collected
pursuant hereto shall be retained by said First Party in payment of services and reimbursement
for expenses in connection with the exchange of the particular bonds against which the charge
may be unposed.
XIII. That, if, during the life of this contract, any of the outptanding bonds
subject to refunding, or coupons appurtenant thereto pr clipped therefrom, shal3t be presented
for payment, or suit shall be instituted thereon or in respect thereto, Second Party agrees
that First Party will be notified before any terms of settlement are agreed upon between the
Second Party and bondholders making demands for payment
XIV. That the parties.hereto will jointly use their best efforts to induce hold-
ers of the presently outstanding bonds included within the scope hereof to participate in the
refunding program; -=and, until otherwise mutually agreed upon, the plan herein set forth shall
constitute the exclusive refunding program for said District.
ZV* That First Party will not be entitled to receive any compensation hereunder
from Second Party until the consent of tje owmers of seventy-five per cent..(75%), or more# of
the bonds included within the scope hereof has been obtained to participate in the refunding
program, and no exchanges shall be made until the unqualified approving opinion of general
market attorneys has been obtained.
IN WITNESS WHIREOF, First Party has executed this instrument In duplicate, and
Second Party has caused this instrument to be executed in duplicate.- in its corporate name,
under due corporate authority, pursuant to proper resolution, and has caused the sine to be
signed by the Chairman of the Burd of County Commissioners for the County of Indian River,
State of Florida, and his signature to be attested by.the-Clerk of said Board; with the cor-
porate seal of said Board duly affixed, all as of this 15th day of wane, A. D. 1937.
R. E. CRS & COMPANY
( CORPORATE SEAL) By .' R . E. ORDMMER
FIRST PART%
INDIAN RIVER COUNTY, FLORIDA,
(CO. COMMISSIONS SEAL) SPECIAL ROAD AND BRIDGE DISTRICT
N0. 4
Attest:
By R. E. Mudge
Carman, Board of County Com-
Douglas _Balser _ _ - missioners for the County of
Indian River, State of Florida.
SECOND PARTY
On motion made by E. P. Poole seconded by Edwin A. Helseth and carried this',Board
pursuant to the requirements of refunding contract this day authorized between this Board and
R. E. Crummer and Company with regard to obligations of Special Road and Bridge --District No, 4,
does herewith designate and retain Vocelle and Mitchell as counsel to represent this Board
until the purposes of'this contract have been fulfilled with the understanding as provided in
said contract that any expenses connected therewith in exeess.of the regalar retainer paid by
this Board to the said attorneys shall be borne in full by the first: party to said contract,
namely, R. to Crummer and Company.
There being no further business on motion made seconded and carried the meeting
adjourned to meet Wednesday Tun®.23, 19371 at 9:00 o'clock A. M9 for the purpose of discussing
the Budget for the year 1939-1938,
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