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1/21/1938
1 4 0 197 It was ordered that Bre. Jack Johnson be removed from the Peuperss list: because she has gone to ..,her husband'in Alabama. Otis H. Cobb, Judge County Court, filed his annual report of fess and commissions for the year 1937. RBCBS.., Probate Fees ............................... $571.03 Civil Docket Fee .................... ..e. .• 17.00 Marriage Fees........................0000.• 898,75 Fishing & Hunting License ............... so* 108.50 Occup„ License Fees, ....................... 49.95 Crim. Pees, Inquests and Lunacy Cases...,....174077 Salary Judge. Coo Ct....................... 595.00 Salary Judge Tuv. Ct.,.....................T.275,000 TOTAL RECEIPT2i...........,,..............$2364,80 1133 ENSES Bryan Hutto, Clerk.... 13..00 � Bamma Twitchell, Clerk .................... 6.00 I Postage, Stationery,, eta... ..............• 22.03 I TOTAL 39.03 Total Receipts ...........................•................ 2364.80 Total 39.03 H'M`I' INCOME ............................. $2325.77 Which Report was duly sworn to before Douglas Baker, I Clerk Cirouit Court, on they 6th day- of January 193$. There being no further business the meeting adjourned until Janu=y 21st., 1938, at II) 2:30 P. Mo ofolook, h i I Chairman* ! Clerk ------------- rrrrrrrrrrrrrr--rr--rrrr-r-rrr-rr..-rr-..r..r..r..rrrrrrrrrrr-rr-rrrrrr-rr..rrr rrrrrr� f u Q f i z FRIDAY* JAWARY 21ST -o 1 19380 The Soard of County Comiassioners in and for Indian River County, Florida, met at the Cert House in Vera Beachs at.2t30 ofolock P• M., Friday., January 81st•9 x.938, in reguler :adjourned meeting, with the following members of the Board present: Eq P. Poole, Chairman, Prank C4 Vickers* S$� B. Clover, and Edwin A. Helseth, Absent: R. B. Mudge: AlAG Wm.H. Frick, Sheriff, Charles A* Mitch®ll, Attorney, and Leila Gray, Deputy Clerk.. It was announced by the -Chairman that this meeting was called for the purpose of nems -ssidering a _Refunding Plan °of the Bled. - Indebtzedness of Sts Luoie County relating to that part or portion thereof,,ldue by Indian River County, 14 the sum of 4231"189.28 as of July 19 Messrs., H. A• Lassiter and . John Hill, Representatives of-..ThO 8. X. CrW=Gr Company,, appeared before the Board and explained the plan* After disscu.ssion, the following resolution was introdu®ed, read, and ,upon motion of Commissioner Vickers seoonded by Commissioner Rel- seth, duly adopted by the following vote: Ayes: H. H. Vi®kers, Edwin A. Helseth, S. B. Clover and B. P. Poole. Hays: Hone.. Absent: R. R. Mudge. Not Voting: Hose 0 RESOLUTION . RESOLUTION AUTHORIZING TEL ISSUANCE- 1 6 BRIDGE f4 Y FUNi .YNT y NRIVER a ` 5 yFOR THE PURPOSE OF REF= - C A LIU AMOUNT". LEGAL p VALID OUTSTANDING BONi 1 INDEBTED- NESS fi, m x198 that r S L � 1.i �'l 9 t*� � W e a�L > �' • 'I � T � i �� �Y � (MI�Z'1R � �•i}� r~ '! i�t 9 - �\ b f. a57f +`1. �� i R � l e Section 1. That this Board has ascertained and determined and does; hereby declare (a) The Board of County Commissioners thereinafter sometimes referred --,to as said vBoard"), of the County of:Tadian Rives (hereinafter sometimes referred' -to as said "County'), State of Florida-, as the governing authority of said County, is authorized, under and by virtue of the General Refunding Aot ©f 1931# same. beingChapter 1507729 General laws cif Florida, Acts of 1931, to issue bonds of said- County -for the purpose off. reAm4i any or ail outstanding bond dd indebtedness of said Cotanty# Whether t)ie indebtedness to be refunded has matured or is ma- ture -hereafter. (b) Before the creation of said County of Indian River,, there were duly authorized a and issued by Ste Lucie County, F1orid®'ttegotiable coupon bonds, time warrants, and negotiable notes for t#e purpose. of raising- fandw-for the construction of, roads and bridgesin said Bt. Lucie County as it then ex.sted, for the payment, of which the full faith and credit of and a tax upon the entire taxable property within said St. Lucie County as it then existed are pledg-I ed, said bonds, tires Warrants, and negotiable notes having been issued under and by virtue ofl the Constitution and statutes of the State of Florida, in such case made and provided, in the following amountsI Date of.Issue �Ju.ne 1,.1910 iJ n e 1, 1914 March 10 1917 Ju1y1' 1918-- March 91 =March 19 1919 February 1, 1920 J U l y 19 1922 August 191953 August 1501924 October 1,1924 February 20 , 1925 Designation I�IPiI! IIY Ste Lucia -County, Florida, "- , Road ' and Dock Bonds "Public Road and Bridge Time Wts, Iftblid Rde& Brdg• Time Warrants "Pablie Rd*& Brdg, Time Warrants "Public Rd. &Brdg, Time Warrants "Public Highway Bonds OPublic Rd.& Brdge Time *arrants r "'Rd. & Brdg#Nesotiable Notes ' Rd. & Brdg. negotiable Rotes '" & Brdg„ Negotiable Notes(b) Rd.& Brdg, Negotiable Notes Authorized Original. ,Amount of Issue 200,04,00" 28,E 000.00 � 25,®00900" 35.000.04 h 35#000.00-,\ 8509000.00" 50#000#00-\ -50 000, 00 � 600 000„00,\ 15, 000.00° ,R4r000.00 (a) At the time of the creation of said County of Indian River out of a portion of St* Lucie County, Chapter 10,1488Geaaeral, haws of Florida, - Acts of 1925, provided for the as- sumption by said Indian River County of a ratable portion of the indebtedness then owed by Bt, Lucie County, in accordance 'with -the provisions of- Section 3, Article-'UITi of the ConStitUtionill j of the State of Florida* -Pursuant to the sai ld Constitutional and; statutory- requirements, an a- greement was entered into August 4, 1925, between the board of County Commissioners of at. Lucie ;;County and the Board.of County Comissioners of Indian River County, duly recorded in the Min -'i i !ute Books of the said respective Boards, wherein it was determined and agreed that said Indian ;River County Was liable for enc shouldpay to St. Lucie County its ratable portion, designated ; as 43.4 per cente of the indebtedness of St. Luoie County, Which ' said indebtedness, to the ea - tent herein in this resolution considered, csonsisted of the then: outstanding portions of the fourth to eleventh items, both inclusive, in the schedule of bond issues appearing at the end of Paragraph (b) of thSe Sectioa, and the residue of the first three items listed in said sehe-` duie after allowing for -the prior assumption by Okeechobee County (which was,oreated in the i year 1919 out of a portion of Ste Lucie County), of its pro -rata part thereof, The said agree- ment further provided that said Indian River County should levy a -tax each year on all taxable property In said County in an amount sufficient to pay off and discharge..in the designated pro- portion its pro -rata part of said St. Lucie County indebtedness identified, together with iA,, terest thereon, as the same become due, and to pay over said sume to St.-Lucle County from year to year, until the final payment and discharge of all of said indebtednessr The exact a6ao mounts and maturity dates of the ratable portion of St. Lucie County indebtedness so assumed, by 0 1 1 tdlen Ater County were determined and established and are specifically set forth in the agree n meat her4nabove identified, and the presently subsisting and unpaid amounts of said indebted- ness so.asspmed by said Indian River C©unty.(hereinafter sometimes referred to'as "indebtedne or "bonded indebtedness'), are set forth in full detail in the next two paragraphs following','. and constitute *bonds* for the refunding of which, with interest thereon, Indian River County may issue refunding bands as herein provided. td� Off said indebtedness there are now outstanding installments of said indebtedness whichconstitute legal and valid unpaid indebtedness of said County°cif Indian River, identified as to designation, date of issue, interest rate, maturities, and instalment amounts of said orifi -incl indebtedness as follows: NET ROAD AM BRIDW—TINE WARRANTS, dated dune 1,19149 bearing interest ROAD AND DOCK BONDS, dated dune 19 1910, bearing interest ' at 6%,per annum, payable at 5% per annum, payable semi-annually: I t Interest Due Interest Dae I(duly 1, 1939) • Total. • Principal ( or Prior) Ami Maturity Total # 929.62 729062 d u n e 1, 1933 e 881.22 881.22 December 1, 1933 881.82 881.28 dlr 1u "- n a 1; 1934 d u n e 881.22, 881,22 December 1, 1934 1600221.08 881.82 168903,30 d u n e 1, 1936 1931 480.66 480.64 December 1, 1935 d u n e '.10 480.66 480.66 d u n e 1, 1936 67.29 480.66 480.66 December 19 1936. 1938 480.66 480„66 d u n e 1, 1939 d u n e 100749.08 {Acer.Int.) 19949.08 d u 1 y 1;f 1939 199226.50 190226.50 • d u n e is 1940 1933 Total Outstanding -Principal Instalments • 380219=8.58 378411 Unpaid semi-annual interest instalments and accrued 19 1934 portion thereof to duly 1, 1939, and accrued inter- 48*07 - 11 est on matured unpaid principal instalments from 320.44 48.07 368.81 their respective -maturity dates to duly 1, 1937....00000906660 79926.22- 1935 A total of- - - - - - - - - - - -• - - - - - _ - - -$43.,174,80- 38.45 From which amount the following deductions are -made: 10, 1935 3200" . . . Credit allowance for bonds of said issue, coupons annexed 358.89 - 1, thereto and accrued portion, thereof evidencing interest to 28.84 • 28.84 July i, 19379 accrued interest to said date on any of said 1, 1936 320.44 bonds which matured prior thereto, and detached coupons which 349.28 4 d.0 n e 1, matured prior to duly 10 1937, of said issue, which said bonds and coupons have been heretofore acquired by and are now held as an asset for account of Indian River County s assumed portion of said indebtedness, to be applied as a }set-off against said County s above described indebtedness upon eandel'lation and surrender to 61t. Lucie County of said evidence of indebtedness ...$19,308.38 n Cash payment to be made by Indian -River Count to 8t. Lucie County at the time of delivery to said Count of cancelled • evidences of indebtedness neat above referred to................... 366.48 4199614,W- 19,E NET TOTAL OF INDEBTEDNH3S TO BE DISPOSED OF A9 HEMN- AFT PIIO'�/I$HD.....................................................23,300.00 e (e) Of said indebtedness there are also now.,outstanding.inetalments of said indebt- edness which constitute legal and valid unpaid indebtedness of said County of Indian ,River, i- dentified as to designation, date of issue, interest rate, maturities, and instalment amounts of said original indebtedness as follows: ROAD AM BRIDW—TINE WARRANTS, dated dune 1,19149 bearing interest ' at 6%,per annum, payable semi-annually: Interest Dae • duly 19 1939) Total Principal or Prior„ Amount Maturity 320.4,4 320.44 d u n e 19 1931 76.90 76.90 December 1, 1931 320.44 76.90 397.34 d u n e '.10 1934 67.29 67.29 December 1, 1938 320.44 69.29 387.73 d u n e 10 1933 57.69 57.67 December l 1933 320.44 57.67 . 378411 • d u n e 19 1934 48.07 48*07 • December 11 1934 320.44 48.07 368.81 d u n e 1, 1935 38.45 38.45 _ December 10, 1935 3200" 38.45 358.89 d u n e 1, 1936 28.84 • 28.84 December 1, 1936 320.44 28,84 • 349.28 4 d.0 n e 1, 1937 $ 434*00 434.00 , 434.00 434, 00 $ $ 434.00 J u 1 y 286.44 286.94, 273,42 273,42 260*40 260*40 w 249 SA 286M94 • 720.44 • 273.42 707*46 260,40 694.40 247x38 • :Jury J u 1 y .January • J u 1 F Janu�fy y January If 1931 I; 1932 1'' 1932 1s: 1933 1, 1933 10 1934 1, 1934 10' 1933 1 1 1 418.13 (Aecr. Int.) 418.15 J u 1 y 1, 1937 320044 320.44 J u n.® 1, 1938 320.44 320.9 T -,-,u n s 1, 1939 Total Outstanding3' n�� 1X11($t1°3�••e.•••w••e••*•••ee•e•••••e��+ 2f�83��� Unpaid semi-annual interest instalments and accrued portion thereof to July 1, 1937, and accrued interest on matured unpaid.prinoipal instalments from their respective matu.V- ity dates to July 19 1939•ee••••••••••......i.....ii•.�.I.i.ii...",052x59 A total of - - - - - - - - - - - - - - - - - -$3, 936.55 From which amount the following deduction -is made: Credit allowance for warrants of said issue, coupons annexed thereto and acerued.portion thereof evidencing interest to July 1, 19371 accrued interest to said date on any of said warrants which matured prior thereto, and detached coupons which matured prior to July 1, 19370 of said issue, Which said warrants and eoupo4s have been heretofore acquired by and are now held. as An asset for account of , Indian River Countyes assumed portion of said indebtedness, to be applied as a set -off -against said CountyNe above.described indebted- ness upon cancellation and surrender to St. Lucie County of said evidences of indebt®dnesa...................................$2.,280.00 NET TOTAL, OF 3TEDNE33 TO BE DISPOSED OF AS $MEINAFTER PROVIDED- -•- - - - - - - - - - - - - - - - - - - -$1,656.55 • ROAD AND BRIDGE TIVE-WARRAjTS, dated March 1, 19190 bearing in- ,terest at 6% per annum, payable semi -Annually: . . Interest Duo (July 19 1937) • Total Prince ( or Prior j Ain unt_ . Mturlt $ $ 105.7'4 a • $ •1050`14 September 1, 1933 3200" 105,74 426,18 March 1„ 1934 96(13 96.13 September 1* 1932 320094• 96.13 416.59 March 1, 1932 86,51 86+51 September 1, 1932 320.44 86.51 406,95 March 19 1934 96.90 96,90' September 1, 1934 320,44. 96.90 399,34. March 19 1939 69.29 6'7,29, September 1, 193€ 320.44• 69.29 389.93, March Is 1931 57,67 57.67. September It 193( 320044 59.69 378,11 March is 193' 358188 (A,eer,Inte) 358*88 J u 1' y 1t 1931 320.94 320.44 March 1t 193EL 320.44 320.49 March 10 193£ 320.44 328.44 March 10 1940 320.44 320.44 March 10 1943 320.44 3200" March if 1941 Total Outstanding Principal Ps<y�®ntL�i. • • • e • • e e • • . e e e • • • • • • • e . e e • yA g� • o �3, ri194,®9s Unpaid semi-annual interest instalments and accrued portion thereof to July 1, 19399 and accrued interest on matured unpaid principal instalments from their respective mat- urity dates_to July 1, 1939.....• .............................1$1,339.41. .A total of - - - - - - - - - - - - - - - - 9, 864.25 From which amount the following deduction is made: Credit allowance -for Warrants of said issue, eonpons annexed thereto and aooraed portion thereof, evidencing interest to July 1,. 19379 accrued interest to said date on any of said warrants which matured prior thereto, and detached coupons which matured prior to July 1, 1939, of said issue, which said warrants and coupons have been heretofore acquired by and are now held as an `asset for aocov[nt _ of Indian River Countyts assumed portion of said indebtedness, to be ap- plied as a set-off against said Countyls above described Indebtedness upon oancellation and surrender to at*, Lucie County of said eVidencds of ..............$x,724.04 NET TOTAL OF INDEBTEDNESS TO BE DISPOSED OF AS E- INAF'TER PROVIDED- -19144 * 25 ROAD AND BRIDGE TnM WARRANTS, dated July 1, 1918, bearing Interest at 6% per annum, payable semi. -annually: Interest Due (July 1, 1930 Total • . Principal, ( or Prior j - Amount gaturity $ 434*00 434.00 , 434.00 434, 00 $ $ 434.00 J u 1 y 286.44 286.94, 273,42 273,42 260*40 260*40 w 249 SA 286M94 • 720.44 • 273.42 707*46 260,40 694.40 247x38 • :Jury J u 1 y .January • J u 1 F Janu�fy y January If 1931 I; 1932 1'' 1932 1s: 1933 1, 1933 10 1934 1, 1934 10' 1933 1 1 1 Credit allowance For me past due warrant of said issue and accrued Interest to July 1, 1937, on said warrant, heretofore acquired by and now held as an asset for account of Indian River Countyles as- ftmed. portion ®F said indebtedness, to bo applied as a set-off against said Countyo above described 1 *btedness upon cancella- tion and -surrender of said warrant to St„ Lucie County............ 1~.120.00 . P NET TOTAL OF }Ty��A y1 11 � TO BE 11 '08ED 4F AS EMBE Piller16IDED Ali - - - - - - - �r w� - - - - - � - - - - $ Principal 868.00 868.00 868.00 868„00 868.00 868.0@ 1 ROAD AND $RIBS TIM WARRANTS, dated March 1, 1919, bearing Interest at 6% per e=umt payable semi-annually: Interest Due. July i, 1931) Total 434400 247*38 681x38 -J u 1 y 1N 1935 1931 834.36 834.36 January 10 1936 434*00 834.36 668,36 ? u 1 y L 1936 286.44 886444 221,34 881.34 January 1 1937 434.00 221.34 655x34 J m 1 y 1, 1937 March 546,84 (Accr•Int•) 546084 J u 1Y l` 1937 434900 March 434000 J 1� y It 198 434.00 208s32 19076.32 434*00 u 1. F 1. 1.939 434.00 1937 • 434.00 • J u 1 y is 1940 434.00 1, - 434*00 J u 3 y 10 1941. 434000 March 434„00 J u. 1 y 1; 1948 434.80 _ 860.00 - 434000 3 u 1 y 16 1943 434.00 - 434.00 - J u 1 y 1, 1944 434,00 434000 J u l y 11 0 1,945 434.00 - 434.00 J u 1y 1.; 1946 434, 00 - 434*00 - J ;n 1 y 10 1947 434.00 • 434.00 J u l y i, 1948 434.00 NET TOS. OF IRDBBTRDNESS TO BE DISPOSED OF AS 434,60 J u l y It 1949 434.00 434000 a J u 2 y it 1950 434.00 - 434000 a m 1 y if 1951 434900 .434.00 W u l y 1 1958 43400 434,00 J u 1 y 1; 1,953 Total outstanding Principal Payments ...................... 909820** , s _ 1 A Unpaid semi-annual interest instalments and aoerued portion thereof °v to!July 1, 1937, and accrued interest on matured unpaid principal Instalments From their reaper-tive,maturity dates of July 1, 1937..6...$ 3$,593.'38 5 7J A total of- - - - - - - - - - - - - - - - #13-, 757 •-52 From which amount the following deduction is made: Credit allowance For me past due warrant of said issue and accrued Interest to July 1, 1937, on said warrant, heretofore acquired by and now held as an asset for account of Indian River Countyles as- ftmed. portion ®F said indebtedness, to bo applied as a set-off against said Countyo above described 1 *btedness upon cancella- tion and -surrender of said warrant to St„ Lucie County............ 1~.120.00 . P NET TOTAL OF }Ty��A y1 11 � TO BE 11 '08ED 4F AS EMBE Piller16IDED Ali - - - - - - - �r w� - - - - - � - - - - $ Principal 868.00 868.00 868.00 868„00 868.00 868.0@ 1 ROAD AND $RIBS TIM WARRANTS, dated March 1, 1919, bearing Interest at 6% per e=umt payable semi-annually: Interest Due. July i, 1931) Total or Prior. ) .amount Maturity 338,52 338.58 September 1, 1931 338058 19806.58 March 19 1932 318948 312.48 September 1, 1932 312.48 10180.48 March 19 1933 286.44 886444 September 19 1933 ,t 286.44 19154.44 March 10 1934 260440 260®40 September 1, 1934 260.40 10128,40 March 1 1935 234,36 234.36 September 19 1935 234.36 14102.36 March 1# 1936 208.38 208.32 September it 1936 208s32 19076.32 March -li 1937 1.006.88 (Aoor.Int.) 10006*88 J u 1 y 1, 1937 868.00 March 19 1939 868000 March 1, 1940 868*00 March 1, 1941 868000 March 19 1948 -868.00 W, ch 1, 1943 _ 860.00 March 1, 1944 Total Outstanding Principal Pey�ntsi..........................�11,884.@0 'unpaid semi-annual interest instalments and accrued portion thereof to X'uly 1, 1937, and accrued interest an matured - unpaid principal instalments from their respective mat- urity dates to July 1,.1937 ................................... 4,2€7.92 . ® total of - - - - - - - - - - - - $1.5, 571.93 From which amount the following deduction is made: Credit allowance for one matured coupon of said -issue, here- f tofore acquired by and now held as an asset for account of- Indian River County"s assumed portion of said indebtedness, Indian to be applied as a set-off against said Eounty*s above-des- cribed indebtedness upon cancellation and surrender of said coupon of at* Lucie County.................................... 30.00 NET TOS. OF IRDBBTRDNESS TO BE DISPOSED OF AS INAFTER PROVIDED - - - - - - - - - - - - - - - - - - $15 * 541, 92 1 1 1 PUBLIC HIGHWAY BONDS, dated.,February 1, 19200 bearing interest , at 6% per annum, payable se*i-►annuallyt Interest Dae - (July 1, 1937) Total Principal or Prior ) an Maturltv 60944.06 5,356.20].2,3®0.20 February 1, 1931 and coupons have been heretofore acquired by and 5-650068 5«650.68 August 1. 1931 , 60944.00' 5,650.68 0 18,594068 February 1, 3.932 5,442036 , 5,442.36 August i, 1932 , 6,944.00, 5,442x,36 126'386.36 February 10 1933 59234.04 5,234.04 August 1t 1933 60944.00 50234.04 120178,04 February 19 1934 59025.92 . 50025072 August 1, 104 _ 60944,00; 50425.72 . 110969.72 February 19 1935 . 4,!817040 49819.40 .August it 1935 80680.00. 4„817.40 a 13P497040 February i, 1936 $ 868600 49557.00 40557000 August 1, 1936 89680.00. 4,557.00 130237*00 February is 1937 J u l y 13:736010 (Aeor*Int*) 130736q,10 d u 1 y 10 1939 8.680000, 1933 8,680.00 February 1, 1938 - 80680000 80680.00 February 19 1939 89680600 80680.00 February 1, 1940 109416.00 January 103,416.00 February 10 1941 101416.00 10 19 100416.00 February i, 1942 10#41B*00 10#416.00 February 1, 1943 10,416 00 100416.00 February i, 1944 10, 416.00 234036 19536.36 10s416,00 Febtf ary 10 1945 130020.00 J u 1'y 130020.00 February is 1946 13,020*00 1# 130020.00 Febraary 1, 1947 13,020.00 1939 13,020,00 February 19 1948 13,020.00 1,303,00 130020.00 February 19 1949 130020.00 3,302,00 130,020.00 February 10 1950 Total Outstanding Principal Payments.o..,..We..........#.014,756000 Total Outstanding Principal Payments..................w.** 195*300.00 Unpaid semi-annual interest instalments and accrued portion thereof to Aly 10 19370 and accrued interest on matured unpaid principal instalments from. their - respective maturity dates to July 10 1937 ................00„546.70 A total of - - - - - - - - - - - - $275.846070 From which amount the following deduction is made: 1 1 1 Credit allowance for bonds of 'said issue, coupons anneued-thereto and accrued portion thereof eviden- cing interest to July 1, 19370 accrued interest to said date on'any of said bonds which maturedprior thereto, and detached coupons which matured prior to July 1, 1937, of said issue, which said. bonds and coupons have been heretofore acquired by and are now - held as an anset ,for acaoant of Indian River County"s assumed portion of said indebtedneas, to be applied as�a set -off -against said County*s above described indebtedness upon cancellation and surrend- er to et. Lucie County of, said evidences of-indebtednesseesig r�75.®0 NET TOTAL OF INDEBTEM88 TO BE DISPOSED OF A8 HEREINAFTER PROVIDED - - - - - - -4 - - - - - - -$112,071.70 ROAD AND BRIDGE TIME W'ABBANTB, dated duly 1, 1922, bearing interest at 6% per annum, payable semi-annually: Interest Due - . (July 1, 19371, Total a Principal or Prior Amount Maturity $ 868600 - 868.00 J u 1 y 1, 1931 416.64 416064 January 10 1932 868.00 416.64 4284.64 J u l y 1 1932 - 390.60 390.60 January '11 1933 10302000 39060 10692.60 J u 1 y l* 1933 351.54 . 351054 January 1j 1934 10302o0® 351054 1;45Z.54 14 u 1 y 1# 1934 312.48 312048 January 1. 1935 1 302.00 312.48.. -44, 14048 3'a:.0 1y January 10 19 1935 1936 273042 273.42 10302000 293442 1095042 a u 1 y 10 1936 234036 234.36 January 11, 1937 19302000 234036 19536.36 J u I y 16 1937 19'354.08 (Aocr.Iut.) 19354.08 J u 1'y is 1937 19302,00 1302000 d u l y 1# 1938 10302.00 1,302.00 J u 1 y 10' 1939 19303000 10302.00 J u 1. y 10 1940 1,303,00 1,302000 J u 1 y l' 1941 10302.00 3,302,00 J u 1 y 1, 1942, - Total Outstanding Principal Payments.o..,..We..........#.014,756000 • 1 1 1 1 1 Fj Z®3 Unpaid -semi-annual interest instalments and aearaed August 150 1931 578,88 '578..88 February portion thereof to. T'uly 1,'1937, and aoerued interest 1932 578.88 1*V74.538 August on matured unpaid priaQipal instalments from their 1932 533,82 533.82 February respective maturity dates to July 1933 533*82 A total of - - - - - - - - - - - - - - -$209:068016 150 From which amount the following deduction is made: 494*76 . 494.75 . February 15 Credit allowanae for wairants of said issue, coupon® 494.76 10796076 ° August 150 annexed thereto evidencing `interest to duly 1, 1937 455.70 455.70 February 159 accrued interest to saiii date on any of said warrants 455.70 19757.70 August 159 which matured prior thereto, and detached coupons which matured'on or ptior t® &Tuly 10 1937, of said issue, which said warrants and ocupons have been heretofore acquired by and are now held as an asset for account of Indian River Countyfe assumed portion of said indebtedness, app off against said Countyrs above described, C indeb'te3ness upon cancellation. , and . surrender-. to :St... Xuaie County of said evidences of indebtedness. NET TOTAL OF IEDEBTEDWSS TO BE DISPOSED OF A3 HEREINAFTER PROVIDED - - - - - - - - - - - - - - -$149498.16 ROAD AND BRIDGE ERGOTIABLE ROTBS, dated August 1, 1983 bearing interest at 6% per annum, payable semi-annually: Interest Due (duly It 1937) Total Principal E or Prior ) out Maturity 868*00 8„68, 00 August 19 1931 . 468,72 468,72 February 1, 1932 868.00 468012 18336#72 August 16 1932 442*68 448.68 February 1t 1933 000 442•68 1031.68 August 1, 1933 . 416,64 416.64 February 1, 1934 868.00 416.64 19284.64 August I� 1934 390.60 390,00 February 10 1935 19302.00 390.60 1:692.60 August it 1935 351.54 351.54 February 1# 1936 1008.00 `351.54 19653,54 August It 1936 312.48 312.48 February 19 1937 19401#82 (Acer.Int •) 1, 401„ 82 9 u 1 y 19 1937 19302.00 1,302.00 August 1, 1937 10308.00 10302.00 august is, 1938 19302*00 19302,00 August 11, 1939. 10302.00 16308000 August 1, 1940 10 302, 00 10 302.00 ° August 19 1941 ' 19308.00 10308.00 August 1, 1942 10302.00 10308.00 August 1, 1943 ' 19302,00 ° August 19 1944 Total Ca�$standing Principal Payments....e..•••O.O.*O•...r.... 16,492.00 Unpaid semi-annual interest instalments and accrued portion thereof to duly 19 1937, and acerued interest . on matured unpaid principal instalments from their respective maturity dates to July 19 1937e ................. 59854*66 Atotalof------------ -- - - -- 0346*66 From which amount the Pbllowing deduction is made-: ° Credit allowance for notes of said issue, coupons an- nexed thereto and accrued portion thereof evidencing Interest to July Is 1937, accrued interest,to said date on any. -of said notes which matured prior thereto; and detached coupons which matured prior t®:auly 1, 19379 of said issue, which said nates and coupons have been heretofore acquired by and are now held as an asset for aocount of Indian River County's assumed portion of said indebtedness, to be applied as a set-off against said County's above describe, indebtedness upon oancellation and surrender to St. huoie County of said evidences of indebtedness............. 119870,00 Principal' �.riea i er 19302400 19302.00 19302,00 r 19302,00 19302*00 ]NET TOTAL OF INDEBTEDMMS TO BE DISPOSED OF AS MMEINAFTER PROVIDED - - - - - - - - - - - - $109476460 ° ROAD AND BRIDGE NEGOTIABLE EOTE89 dated August JZ* 19249 bearing interest at 6% per annum, payable semi-annually: Interest Date duly 1, 1937) or Prior ) Total Am maw 611,94 10913.94 August 150 1931 578,88 '578..88 February 150 1932 578.88 1*V74.538 August 159 1932 533,82 533.82 February 150 1933 533*82 1983€•88 August 150 1933 494*76 . 494.75 . February 15 1934 494.76 10796076 ° August 150 1934 455.70 455.70 February 159 1935 455.70 19757.70 August 159 1935 ®y 41.6.64 4169" February 150 1936 18302.00 416.64 1,71.8.34 August 15, 1936 1#308.00 10302.00 1, 302,00 1,736*00 1;736.00 10736.00 1,736.00 1., 736.00 Prineipal 1 1 }} I}I 868,00 888.00 868.00 Principal, c 377.58 M—x. February 151 1937 1,865.15 (Aeor.lat.) 10865,15 d w 1 y 1, 1937 . 1,302.00 August 15, 1937 10302.00 August 151 1938 1, 302.00 AU,�t 150 1939 -1:736.00 August 159 1940 10736.00 August 15, 1941 1736.00 August 159 1942 10736,00 August 150 1943 1,736.00 August 15, 1944 Total Outstanding Principal Payments.. .•.•..f.f..f....•.•.20„398,00 Unpaid semi=annual interest instalments and accrued portion thereof._to-duly 1, 1937, and accrued interest on matured unpaid principal .instalments from their respective ma- turity dates to duly 1; 19371 .......................ff....f. 72802*E7 A total of - - - - - - - - - - - - - - - $28, 200.29 From which amount the following deduction is made: Credit allowance for notes of said issue, coupons annexed thereto and accrued portion thereof evi- dencing interest to duly 19 1937, accrued interest to said date on any of said notes which matured prior thereto, and detached coupons which matured prior to duly 1, 193179 of said issue, which said ` notes and coupons -have been heretofore acquired by and are now hold as an asset for account of Indian River County's assumed portion of said indebted- ness, to be applied as a setuaff against said County!: above described indebtedness upon can - collation and surrender to dt. Lucie County of . said evidences of 169865.00 NET TOTAL OF INDEBT'EDNE'SS TO BE DISPOSED 03? AS HEUINAFTXR PROVIDED - - - - - - - - - - - - - - 11, 335.27 1;0A 3 AND BRIDGE NEGOTIABLE NOTES., dated October 1, 1924, bearing interest at 6% per annum, payable semi-annually: Interest Due • ` (duly i, 1937) Total ' or prior ) Amount MaturIty . 104.16 4972016 October 10 1931 • 78.12 78.12 April 10 1938 . 78.12 946.1E October 1, 1932 , 52.08 52.08 Apr1l 10 1933 - 52.08 920.608 October 1, 1933 • 26.04 26.04 April. 19 1934 . 86.04 894.04 October 10 1934 885.36 (A9er.Int.) 885036 d u 1 y 1, 1937 Total Outstanding -Principal Payments...�....................$ 3*472.00 Dnpaid semi-annuaX'interest instalments and accrued portion thereof to duly 19 1937, and accrued interest on matured unpaid principal instalments from their respective' maturity dates to duly 1, 19370,; f............ 10302100 A total .of - - - - - - - - - - - - 4,774600 lv302v0O t From which amount the following deduction is made: Credit allowance for notes of said issue, coupons annexed thereto and acerued portion thereof evidenc- ing interest to duly 1, 19376 accrued interest°to said date on any of said notes which matures prior thereto, and detached coupons which matured prior to duly .l, 19379 of said issue, which said notes and coupons have been heretofore acquired by and are now held as an asset for account of Indian River County*s iss,uied po,rtion of said indebtedness, to be applied as a set-off against said County's above described, indebtedness upon cancellation and sur- render to St* Lucie County of said evidences of indeb.tedness................................................ 2g480,100 NET TOTAL OF SS TO BE DISPOSED OF AS RER EINAFTER PROVIDED - - - - - - - - - - - - - - 29294*00 ROAD AND BRIDGE NEGOTIABLE NOIES, dated February 20* 1925 bearing interest at 6% per annum: payable semi-annually: . . Interest Due July 10 1937) Total or Prior .) Amount Ma tur i qty 781 *20 781.20 August 781.20 . 29083.20 February 742.14 . 742.14 August 200 1931 209 1Q32 2®, 1932 1 1 11 1 1 A 19302.00 742.14 29044.14 703.08 703.03 10302.00 703008 29005.08 Y . 664.02 664.02 19 736.00 664.02 20400*02 611.94 611.94 1,736.00 611.94 80347.94 559*86 589s88 1, 736.00 559.86 21,295o86 1;�814�11 (A.acrsTnt♦ } 11;s814:�11 19,736.00 1,736,00 2,170.00 20170.00 291170.00 2i 190*00 20170.00 2,170000 2,170600 2,170.00 2,170*00 2,170.00 2,170.00 2,170.00 2,170.00 2,170.00 205 February 20, 1933 August 20, 1933 February 20, 1934 -August 200 1934 February 206 1935 Augast 20, 1935 February 20, 19319 August 209 1936 February 209 1937 J u 1-,,y,- X9 1937 February 20 1938 February 20, 1939 ]February 20, 1940 February 200 1941 February 209 1942 Fabrutary° 20, 1943 February 20, 1944 February 20, 1945. 'total Outstanding -Principal Payments................... ...... $26,040.00 Unpaid semi.-innual`interesst instalments and accrued portion thereof to duly 1, 1937, and accrued- interest on -matured- unpaid principal instalments from their respective matur- itydates to July 1, 1937.. ................................. 96938.59 A total of - - - - - --- - - - - - - - -$35,978.59 From which amount the following deduction is made: ' e Credit allowance for notes of said._issuef coupons annexed thereto and amerced portion thereof evidencing interest to July* 19 19370acorued interest to said date on any of said notes which m4tured,prior thereto, and detached coupons which matured prior to duly i, 19379 of said issue, which said notes and coupons have been heretofore acquired by and are now held' as an asset for account of ,Indian River County's assumed portion of said indebtedness,. to be a- pplied as a set-off against said County's above described Indebtedness upo8 cancellation and surrender to St. °Tucai.e County of said evidences of 92763034 NET TOTAL OF INDEBTEDNESS TO BE DISPOSED OF AS HEREINAFTER PROVIDED - - - - - - - - - - - - - -$26.,215*25 the aggregate amount of said outstanding bonded indebtedness as listed and described hereinabove In Paragraph (e) of this Section, bearing interest at sig per cent. (6%) per annum, being TWO HUNDRED BMW THOUSAND Sil-, MMDRM EIGHTY-NINE and 28/100 DOLLARS ( $207, 689.28 ). C (f) If any mistake or error shall have occurred in the description or maturity dates of any of the outstanding instalments proposed to be refunded, as set forth in Paragraphs (d) c e and (e) of this Section, such mistake or error shall be deemed to be immaterial, provided the total amount of Refunding Bohds issued hereunder does not exceed the total amount of said out- standing instalments;; of indebtedness proposed to be refunded thereby. (g) )Interest has accrued and is unpaid on all of said outstandingindebtedness, here- inabove described, since July 1, 19379 and the financial condition of said County of Indian River and its inability to pair its indebtedness make it necessary and for the best interest of said County and its taxpayers that said indebtedness, in the aggregate --amount of TWO HUNDRED THIRTY-ONE THOUSAND 80 HUNDRED EIGHTY -RINE and 28/100 DOLLARS ($231,,189,628) be refunded as of July 19 19379 the County of St. Lucie being willing to cancel the same in exchange for a like amount of Road and Bridge Refunding Bonds Series A and B.y of said County of'Indian River. e (h) Under date of July 12, 1937, the Board of County Commissioners of Sto Lucie 0oun Florida, ratified and confirmed an(agreement pursuant to which R. E. Crummer & Company was nam- ed-Fiecal Agents to worm in cooperation with said St. Lucie County in the refinancing of the • e e bonded indebtedness of said St. Lucie County, as hereinafter provided, which agreement contem- plates the refinancing of the indebtedness of said St. Lucie County for which said Indian River e county is responsible to the extent hereinabove set forth. Section 2. (a) That for the purpose of refunding as of July' 1, 19379 -the net amount of the outstanding and unpaid instalments of principal and In.teres�t indebtedness of said County e e of ' Indian River, in the sum of -TEMBE THOUSAND FIVE HUNDRED DOLLARS ($23, 500,00) as de- e scribed in Paragraph (d) of Section 1 hereof, there shall be and there are hereby authorized ordered tp be issued the negotiable coupon bonds of said County,.in the -aggregate principal a- mount of TWENTY-TRREE THOUSAND FIVE HMR 3, DOLLARS ( 83,800.00) • to be designated "INDIAN R ,COUP, FLORIDA, ° ROAD AND BRIDGE REFUNDING BONDS SERIES A* ` Said bonds shall be numbered, shall be in the denomination, and. -subject to the right of -prior redemption, as hereinafter provided, shall mature and be in the amounts as follows: Bond Numbers Maturit (Inclusive) Denomination . 1. 500.00 - 1967 500900 2 to 84 1,000.00 1967 23"t000 00 Total Series A Refunding Bonds - - - - - - - - - - $23,5®0.00 (b) That for the purpose of refunding as of July i, 1939, the outstanding and unpaid instalments of principal and interest indebtedness of said County of Indian Diver, --in the sum of TWO RED -SE EN THOUSAND SIX HUNDRED EIGHTY-NINR and 88/100 DOLLARS ($807.689.88) as described In Paragraph (e) of Section 1 hereof, thereshall be and there are hereby authorized and ordered to be issued the negotiable coupon bonds of said County, in the aggregate principal amount of W ■ EMBED ! VER THOUSAND e i Ir .'ff A' 4 N i1 G W' NRE 28/100 »`9 i; $ t h 8 to be desigM hated "INDIAN RIVER COMM' FLORIDA9 R1'_b AM BRIDGE pgiEgf$NNPOET)a` ,.' . IES B" c Said bonds shall be numbered, shall be in the denominatio%, and, subject to the right of prior redemption,'as hereinafter provided,`shall mature and be in the amounts as follows: Bond Numbers Maturit ( i�#.ve.) ' Denomination 1 25 0: 189.88 1967 $ 189.38 86 300.00 1937 300.00 27 to 233 10000,00 1967 207,00000 Total Series B Refunding Bonds - - - - - - - - -$2070689.28 (c) That said Refunding Bonds, Series A, in the aggregate principal amount of $23'300.00 shall be dated duly 3.,'1937, and shall bear interest from date thereof until paid,or until called foo= redemption, which interest shall be payable semi-annually on the first days of January and July of each year, and said interest, except as hereinafter otherwise provided, shal be enforceable and collectible at the rate of four per cent. (4%) per annum from the date of the bonds to July 16 1942; and at the rate of five per cent. (5%) per annum from and including July 1, 1942s, and thereafter; and said interest at said rates shall be evidenced by coupons attached to each bond. Each of said Refunding Bonds shall be signed by the Chairman of the said Board of County Commissioners of said Indian River County# Florida, and the corporate seal of said Board shall be affixed thereto, eittested by the Clerk of.the said Board, interest coupons attached to each of said Refunding Bonds shall be executed with the fac simi.ld signatures of the said `Chair- man and Clerk, and -said officials, by the execution of said buds, shall adopt as and for their own proper signatures their respective facsimile signature.s`on each of said coupons. (d) That said Refunding Bonds, Series B, in the aggregate principal amount of $207689.28, shall be dated July 1, 1937, wind shall bear interest from date thereof until patid, or until called for redemption, which interest shad be payable semi-annually on the first days of January and duly of each year„ and said interest, except as hereinafter otherwise provided* shall be enforceable and collectible it the rate of four per dent. (4%) per annum from the date of the bonds to wily i,` 1942; at the rate of five per cent. (5%) per annum from and including July 1, 19429 to duly i, 1947; and at the rate of sic per cent. (6%) per annum from and ifcltd- Ing July 11, 1947,` and thereafter; and said interest at Mild rates shall be evidenced; by o�oujons attached to each bond. Said Refunding Bonds shall be signed by the Chairman of the said Board of County Commissioners of said Indian Raver County, Florida, and the corporate seal of said. Board 1 1 1 1 1 shall be affixed thereto, attested -by the Clerk of the said Board. Interest coupons attached't� each of said Refunding Bonds shell -be- executed with the facsimile signatures of, the said Chair- man and Clerk, and said officials'. by the execution of� said bonds, shall adopt -as and"' for their --own proper signatures their respective facsimile signatures on each of said coupons. Section 3. (a) That said Refunding Bonds,, Series A. the coupons thereto attached,and the,..validation certificate to be endorsed thereon, shall be in.substantially the following form UNITED STATES OF. AMERICA Bond No. STATE OF FLORIDA � COUNT'Y' OF IRDIAN RTM ROAD AND BRIDGE MMUNDING BONDS SERIES -A KNOW ALL .By'MESEPRESENTS: That the County of Indian River, in the State of Florida, hereby acknowledges itself to be indebted, and, for value received, hereby promises to pay to the bearer the principal sum of ` D 0 L L A R S on the first day of July, A. D. 19$7, with the option of prior redemption as hereinafter pro- vided, and to pay interest on said sum, as hereinafter speeified from -the date hereof until paid, or until called -for redemptions payable semi-annually on the first days of January and July Of each year, such interest to the maturity date of this bond to -be paid upon presentation and surrender -of the attached, -coupons as they severally become due• Both principal and interest , of this bond are payable in lawful money of the United States of America at the Chemical Bank & Trust .Company, in the City of Now 'fork, New Fork; and for the prompt payment of this bandy and the interest thereon, as the same become due, the full faith,:oredit't and taxing power of said County are hereby irrevocably pledged to the same extent and with like force and effect'as the same were pledged for the payment of the indebtedness refunded hereby Interest on this'bond, as evidenced by the interest coupons hereto attached, shall be enforceable and collectible at the rete of four per cent, per annum faroll date hereof to .July 1, 1948; and at the'rate of five per cent. ter annum thereafter. The right is hereby resereed to call and redeem all or any part of the issue of bonds of which this bond is one on any interest payment date prior to maturity at par plus accrued Interest at the rate then prevailing as enforceable and collectible, In the event of the exec- aise of such right to call, not less than thirty nor more`than sixty days notice of such redem tion will be given by filing and publication as provided by resolution of the Board of County Commissioners of said County authorizing the issuance of the'issue of bonds of which this bond ,Is one, and said bonds when so called, shall cease to bear interest on such redemption date, provided that adequate funds for their redemption shall have been provided and set aside at the designated paying agent by said County for such purpose, This bond is one of an issue of Refunding Bonds of like date and maturity aggregating #2319.189.280 identified as follows: Series A,$2305009000 bonds numbered 1 to 24, inclusive; and Series B, 07#689.289 bonds numbered 85 to 233, inclusive* AND IT IS MEMY CERTIFIED AND RECITED that this negotiable bond is issued under the authority of and in full.compliance with the General Refunding Act of 1931, being Chapter 15,772, General Laws of Florida, 1931, and pursuant to a resolution duly adopted by the said Board of County Commissioners, and is issued in exchange for and as a continuation, extention, merger and renewal of a like amount of v®lid`subsissting bonded indebtedness of said County issu- ed prior to November 50 1934, and outstanding at the date of the passage of said resolution, and for the purpose of refunding said indebtedness; and that all acts, conditions and things req ed to happen., exist and be performed, precedent to and in the issuance of this bond have hap: ed-, exist, and have been performed in due time, form and manner as required by law-., and that neither the indebtedness which is refunded, nor the issue of bonds of which this bond is one, together with all the other lAdebtedness of the said County, exceeds any limitation prescribed by the Constitution or statutes of -the State.of Florida, and that, before the issuance of the issue of bonds of which this bond is .one, provision has been made for the levy and collection of. a direct annual tax -upon all property -within said -County,,_ exoept only suoh property as would be pxempt from taxation under, the provisions of the laws ° and ' Constitution, of Florida which were in force and effeot'at the time of the creation, of.the indebtedness refunded hereby' sufficient to pay the interest upon the issue of bends of which this bond -is one as the same shall become due and to create a sinking fend for the payment of the principal thereof at maturity. All rights and remedies which were available for the support and enforcement of the bonded indebt- edness refunded by this bond shall be available for the support and enforcement of this bond. IN WITNESS WHERROF0 thesaidBoard of County Commissioners of the -County of Indian River, State of Florida, has issued this bohd°and has caused the same to be signed by its Cha man and the seal of said Board to be affixed hereto, attested by the Clerk of said Board, and has caused the interest coupons hereto attached to be executed with°the facsimile signatures of the said Chairman and Clerk, all as of the first day of July, A. D. 1939. Attest: er a oar, o sun o ono y offi sioners of the County of Indian River' signers of the County of Indian Rive State of Florida* State of Florida. (SEAL) (F= OF COUPON N FOR I -;A ENUA , I i4TST P.AFMEBT ) t No*. On the first day of , 1 �, the County of Indian River, in the State Florida, will pay to the bearer at the Chemical Bank & Trust Company, in the City of New York, New York, the sum of DOLLARS, being the then enforceable and collectible is terest on its Road and Bridge Refunding Bond, Series A. dated July 1, 19390 No,, unless said bond shall have been theretofore called for redemption. Attest; Clerk, The Board of county Co e- MEMO, Trelldird or -county o s- sioners of the County of Indian River, sioners of the County of Indian River, State of Florida, State of Florida* (FORM FOR VALIDATION CERTIFICATE) Validated and confirmed by decree of the Circuit Court of the Ninth JnBicial Circuit of Florida, in and for Indian River County, rendered on the day of ; 193 . Clerko the- C rcm our o n an ems) River County, Florida. W That said Refunding Bonds, Series B, the coupons thereto attached, and the vali- dation certificate to be endorsed thereon, -shall be In substantially the following form: MITED STATES OF AMERICA Bond No.,_- STATE OF FLORIDA COUNTY OF INDIAN RIVER SERIES KNOW MEN BY rlu 1E a the offi kty of Indian Rivers in theState Florida, hereby acknowledges itself to be indebted, and, for value received, hereby promises to pay to the bearer the principal sum of on the first day of July, A. D. 19699 with the option of prior redemption as hereinafter provid-' ed, and to pay interest on said sum, as hereinafter specified, from the date hereof until paid, or until called for redemption, payable semi-annually on the first days of January and July of II S 0 1 1 1 1 each year, such interest -to the maturity date of this bond to be paid up -on presentation and sur render of the attached'soupons as they severally become due. Both principal and interest of this bond are payable in lawful money of the United :Mates of -America at the Chemical Bank � Trust Company, in the City of N6w York, New Fork; and for the prompt payment of this bond, and the interest thereon, as the same become due, the full faith, credit and taxing power of said County are hereby irrevocably pledged to the some extent and with like force and effect as the same were pledged for the payment of the indebtedness funded hereby* Interest on this bond, as evidenced by the interest coupons hereto attached, shall be enforceable and Collectible at the rate of four per cente per annum from date hereof. to July 1, 1942; at the rate of five per dent. per annum from and including July 19 1942, to July 1, 1947; and at the rate of six per cent* per annum thereafter. The right is hereby -reserved to call and redeem all or any part of the -issue of bonds of which this bond is one on any interest payment date prior to maturity at par plus accrued i terest at the rate then prevailing as enforceable and collectible* In the event of the exercise of.such right to oall,-not'less, than thirty nor more than sixty days notice of -such redemption will be given by filing and publication as provided by resolution of the Board of County CoWhis signers of said County authorizing the issuance of the issue of bonds of which this bond is one and said bonds, when so called, shall cease to bear interest on such redemption date, provided that adequate Binds for their redemption shall have been.provided and set aside at the designat ed paying agent by said County for such purpose* .s bond is ong of an issue of Refunding Bonds of like date and maturity, aggregat- Ing $231,189.28, identified as follows: Series As $23,500.00, bonds numbered 1 to E4, inclusive and :aeries B, $2079689.28, bonds numbered 25 to 335, inclusive. AND RFOITED that this negotiable bond is issued under the authority of and in full compliance with the General Refunding Act of 19319 being Chapter 15,177 General saws of Florida, 1931,. and pursuant to a resolution duly adopted by the said Board of County Commissioners# and is issued in exchange for and as a continuations extension, merger and renewal of a like amount of valid subsisting bonded indebtedness of said County issued pri to November 6s 1934, and -outstanding at the date of the passage of said resolution and for the purpose of refund ng.said indebtedness; and that all acts# conditions and things required to happen, exist, and be performed, precedent to and in issuance of this bond have happened, exist, and have been perforated in due time, form and manner as required by law, and that neither the indebtedness which is refunded, nor the issue of bonds of which this bond is one, together with e all the other indebtedness of the said County# exceeds any limitation prescribed by the Consti- tution or statutes of the State of Florida, and that, before the issmanoe of the issue of bands of which this bond is ones provision has been made for the levy and collection of a direct an- nual tax upon all property within said County# except only such property as would be exempt from taxation under the provisions of the laws and Constitution of Florida which were In force t and effect at the time of the creation of the indebtedness refunded hereby, sufficient to pay the interest upon the issue of bonds df which this bond is one as the same shall become due and to create a sung fund for the payment of the principal thereof, at maturity, All rights and remedies vhleh were available for the support and enforcement of the bonded indebtedness refu: ed by this bond shall be available f^mr the support and enforcement of this bond* IN WI'TMSS WHMOF, the said Board of Bounty Opumissioners of the County of Indian River, State of Florida, has issued this bond and has caused the same to be sigaed by its Ch man, and the seal of said Board to be affixed hereto, attested by the Clerk pf said Board, and has caused the interest coupons hereto attached to be executed with, the facsimile signatures of the said Chairman and Clerk, all as of the first day of Julys -A, D. 1937• Attest: Cler , The Board of CFu—nty ommf s- C a rmn, The Boa a County Omit.' signers of the County of Indian River, sioners of the ounty of .Indian River, State of Florida. State of Florida. ( FORM OF COUPON FOR =11 -ANNUAL INTEREST PAYMENTS) .. e On the first day of , 19",, the County of Indian River, in the State of Florida, will pay to the bearer std. the Chemical Bank & Trust Company, in the City of New Fork, Now Farb, the sum of DOLLARS, being the then enforceable and Col- lectible interest on its goad and Bridge Refunding Bond, Series B. dated duly 19 19376- No, r, unless said bond shall have been theretofore called for redemption. I Attest; er , The Boar , of County-, Cbmils:: Carman, The Baa o . Cu aty Cash -s - signers of the County of Indian River, stoners of the County of Indian River, tate of Florida, State of Florida*. (FORM FOR VALIDATION CERTIFICATE) Validated and confirmed by decree of the Circuit Court of the Ninth Judicial Circuit Florida, in and for Indian River County, rendered on the day of 6 193_• Cler-Fof the Circuit Courtof Malan (SEAL) giver County, F19rida. Section 4. (a) That for the prompt payment of the principal and interest of all of said Refunding Bonds as the same shall become due which are issued pursuant to this, resolution, the full faith and credit of said County of Indian River and a tax upon all the praperty within said County are hereby irrevocably pledged to the same extent and with like force and effect as the same were pledged for the payment of indebtedness refunded by said bonds, and the said Board hereby covenants and agrees with the holders of any and all of said Refunding Bands and interest coupons issued under the provisions of this resolution that the said Count* will make prompt pay- ment of the same when due. (b' That for the purpose of adequately providing for the payment of the, interest cou- pons and for. a sinking fund for the retirement of all of said Refunding Bonds herein authorized to be issued, the said Board covenants and agrees with the holdets of said Refunding Bonds that in the annual budget and ad valorem tax levy to be prepared and made in each year commencing Witt the year 1937,) and continuing thereafter until all of said Refunding Bonds have been retired, there shall be included a levy of a current ad valorem tax on all property in -said County sub- ject to the levy and collection of such tax sufficient to produce the sun of SIMEN THOUSAND ONE HUNDRED EIGHTY-FIU DOLLARS ( 16,1B3,00jo including and deducting therefrom, at the option of said Board, any revenue other than from ad valorem taxes which may be available and which is I actually so applied„ Such taxes shall be levied and computed upon the extended and finally equa- lized valuation of ali property within said County except only such property as was exempt from taxation under the lawsandConstitution of Florida which were in force and effect at the time of the creation of"the indebtedness proposed to be refunded hereundir. The taxes so levied shall be in addition to all other taxes levied by or on behalf of said Caountys and the proceeds thereof are hereby appropriated and shall be used exclusively for the purpose for which the same are lev- ied, and so long as any of said Refunding Bonds are outstanding, the respective annual tax levies shall be increased when necessary to provide sufficient funds for the actual interest and sink- ing fuiad requirements of the year next succeeding that is which the budget is being made and:pre- pared. (c) That all of said'RePunding Bonds, and interest thereon, shall be payable in law- 1 1 1 1 money of the'United States of America at the Chemical Bank & Trust Company, in the City of New York, ITew York, e (d) That the provisionis hereinbefore made for a sinking fund to pay the principal ah e interest on the Refunding Bonds hereby authorized shall inure solely and only to' the payment of said bonds and interest thereon, and any funds now or hereafter available for the payment of th indebtedness authorized to be refunded shall be used to pay the principal and interest on the Refunding Bonds hereby authorised., It is hereby specifically covenanted and agreed that any that may hereafter become available for the exclusive payment of the indebtedness refunded here- by shall be converted into the interest and sinking fund for said issue of Refunding Bonds and be used and applied solely and only for the payment of the principal and interest on said bonds. (e) That all covenants, representations, agreements, and undertakings herein set out, as well as those appearing on the face of each of said Refunding Bonds,' shall constitute a con- tract with the holders of the Refunding Bonds, which contract shall be enforceable by suit, ae- tion, or mandamus on behalf of any bondholder in any -court of competent jurisdiction whether or not a monetary default shall then have ocoured in the payment of the principal or interest of. such Refunding Bondss and all rights and remedies which were available for the support and en- forcement of the indebtedness refunded hereby shall be available for the support and enforcement of said Refunding Bonds* (f) That all of said Refunding Bonds herein authorized as may from time,to time be . e outstanding shall have and are hereby declared to have the same security and source of payment as the indebtedness thereby refunded, and said Refunding Bonds shall constitute a continuation, e extension, merger, and renewal of the indebtedness thereby refunded, and Only such property in said County as was exempt from taxation under the laws in force at the time such original in- debtedness was incurred shall be exempt from taxation to pay the interest upon and principal of said Refunding Bonds. e (g). That the said Refunding Bonds are hereby authorized to be executed as soon after the adoption of this resolution as may be, and promptly upon the completion of the validation the bonds as provided in Section 7 hereof, said executed Refunding Bonds, with the interest pons theraato attached, shall be by the Clerk of this Board deposited with the State Treasurer as County -Treasurer of -Indian River County, Florida, ex-offieios as escrow agent, with appropriate directions that said Refunding Bonds shall be delivered to accomplish the following purpose: Effect a delivery of said Refunding Bonds to the State Treasurer as ea -officio County Treasurer of St. Lucie County, Florida, for account of the Interest and Sinking Fund of the Ott, Lucie County, Florida, 'Road and Bridge Refunding Bond issue dated July 1, 19370 in amounts rat- able to the amounts of St. Lucie County Road and Bridge Refunding Bonds, of terns identical wi the terms herein provided, as are themselves from time to time exchanged for presently outstan Ing original St* Lucie County indebtedness of the issues described in Section 1 (b) hereof, sa e deliveries to be made in the proportion that the total amount of the said Refunding Bonds of t respective series, designated as Series A and Series B, as set forth in Paragraphs (d) and (e) of Section 1 hereof, bears to the total amount of St. Lucie Cpunty, Florida, Road rand.Bridge R funding Bonds of the issue dated duly 11, 1937, of the corresponding series, as set forth in res- olution adopted by the Board of County Commissioners of said St. Lucie County, Florida on danu- 18, 1938, authorizing the issuance of said St. Lucie County, Florida„ Road and: Bridge Refund - Ing Bonds dated duly 1, 19379 which proportions are hereinbelow stated in exact terms: Deliveries of the said Series A► Refunding' Bonds shall be made in the proportion that the sum of 83, 500.00 bears to the slim - of 0114, 000000, which is approximately the rate of $208.14 of Series A Refunding Bonds for each $19000#00 bond exchanged of the corresponding series of St. Lucie County, Florida, Road and Bridge Refunding Bond issue dated July 19 19317„ 71 Deliveries of said series B Refunding Bonds shall be made In proportion that the sum of $209, 89,28 bears to the sem, .of $5066000*00, which is approximately the rate of $410.45 of Ser- iss B Refunding Bends for each $1,000,00 bond exchanged of the corresponding Series of St. Lucie County, Florida, Road and Bridge Refunding Bond issue dated July 1, 193T. At and when the said Refunding Bonds are so delivered it shall operate to discharge a like amount of the indebtedness owed by Indian River County. to St. Lucie County, and same shall be -evidenced by certificates of the State Treasurer to that effect. (h) It is hereby declared and intended that said Refunding Bands are to be issued as of July 1, 1937, for the purpose of refinancing, as of that date, the like amount of indebted- ness of said County of Indian River then existing as hereinabove described. (I) That all of said Refunding Bonds shall be callable upon any interest payment date prior to matutity, at par plus accrued interest at the rate then prevailing as enforceable and collectible. The option to call any of said Refunding Bonds prior to maturity shall be enc.* ercised in the following manner: The Refunding Bonds to be called shall be drawn by lot from all the bonds then outstanding, and notice of such redemption, identifying the bonds to be re- deemed by date, series, number, and maturity, shall be filed at the place whereat the principal and interest are payable, such notice to be filed at lease thirty r30j days prior to such re- demption date, and said notice of intention to redeem shall be published once, not more than suety (60) nor less then thirty (30) days prior to such redemption date, in at least two pub- lications, one of which shall be a newspaper of general circulation printed and published in Indian River County, Florida, and the other shall be a financial journal published in the City of New York, New York; and said bonds when so called for redemption shall cease to bear inter- est on such redemption date,providedthat adequate funds for their redemption shall have been provided and set aside at the designated paying agent by said County for such purpose, (k) That if there be no newspaper of general circulation printed and published in Indian River County, r1orida, in which to print any notices required by this resolution, then any of said notices may be published in a newspaper having general circulation in said County. Section 5. The Refunding Bonds shall be exchanged on the basis of a par amount of Refunding Bonds for an equal amount of the indebtedness authorized to be refunded hereunder, e'aid exchanges to be made in accordance with the method of procedure hereinabove in Paragraph (g) of Section 4 hereof set forth, Section 6. That if any clause, section, paragraph, or provision of this resolution or of the Refunding Bonds hereby authorised be declared unenforceable by any court of final jurs- dictfon, it shall not affect or invalidate any remainder :thereof, and, if any of the Refunding Bonds hereby authorized be adjudged illegal or unenforceable, the holders thereof shall be en- titled to be subrogated to the rights of 'the holders of the indebtedness hereby provided to be refunded thereby and as suchenforee their claim for payment• 0 Section, 7. That Charles A. Mitchell, Attorney -at -Law, be and he is hereby authorized and directed to institute appropriate proceedings in the Circuit Court of the Ninth dtadicial Circuit of Florida, in and`for Indian River CountY, for the validation of said Refunding Bonds, and the Chairman and Clerk of this Board are hereby authorized to verify `any pleadings in such proceedings, and to Impress thereon the corporate seal of this Board. the MO tide for the adoption for the " adopt'ion `of the Resolution being duly seconded, it was declared adoptedp Tie Clerk was instru©ted to write Clewiston Motor Company for advise as to the best IL gas* and what kind of gas to use in Caterpillar Traotor. 1 1 1 213, Mien was made by Commissioner S, 1. Mover, seconded by Commli.eslover Freak 0,6 Vickers, that gas and, oil to be used by the County Road Department for the first six months or until July 1, 1938s be purchased from Roland Arnold, Representative of The American Oil Compan said purchases to be made at the lowest market price, oA the sans basis is Standard and other companies according to the prevailing price for that period of time, -which motion carried, G. A. lamas appeared before the Board regarding the South County Line at the request of the Inland Navigation Engineer. Motion was made by Commissioner Frank C. Vlokers, seconded by Commissioner Edwin A, Helseth, that Board take the matter up with Str Lucie County Ccmmciss- Toners, and the Clerk was instructed to write them to find out what action they Would take` Letter from Indian River County Business Association dated January 13, 1938,aigned by William C. Nodtke, Secretary and Treasurer, was read, Also note of thanks from Miss Evelyn Mudge, thanking the officials for flowers sent Colonel Madge* The Application for Liquor License of George D. Barr cks was tabled for roves until the newt regular meeting of"this Board„ Road 3C was discussed, and it was deemed advisable to ask other organizations to with the Boar"4, inviting them to participate in the Drive for the completion of this road, and the Clerk was instructed to write letters to Chamber of Commerce, Vero Beach; The Indian River Farms Drainage District, and the City of Fero Beach, inviting them to meet with this Board on Tuesday, February 19 193181, at 1:30 otelook P, Ma, to discuss this matter, R B S p L U T I 0-,.N Commissioner Bel.seth - introdueed the following resolution and moved its adoption, to -Witt Whereas., the obligations of Vero Bridge Distriot,a special taxing District situated in Indian River County, as represented by bonds of said District, amount to a comparatively small sum, and it appears impossible to make purchases of any -of said obligations under the provisions of the so called Kanner Billy and,-,. Whereas, funds are accumulating to the credit of said District in the hands of the State Hoard of Administration which cannot be used and which will not be used by reason of the situation aforesaid and it would be beneficial to said District to use funds to retire its ob- ligations; therefore, Be It Resolved by the Board of County Commissioners of Indian River County, Florida that the State toard of Administration be, and it is, hereby authorized and direoted to trans - for all gasoline tax money held in its hands in the Kanner Bill account of Vero Bridge Distri in Indian River County, Floridato the interest and sinking fund account of said Vero Bridge District; That said State Board. of Administration shall remit to the United States Mortgage Trust Company of New Fork City, Now Mork, paying agent of the bonds and coupons of said, Vero Bridge District, all gasoline tax money accruing to the benefit of said Vero Bridge District in the hands of said State Board of Administration to the extent necessary to pay past due 1 terest and principal of the road and bridge bonds of said Distriat,and to so remit from time time as the same may beccmae due such sums as may be so necessary and available to pay future accruing principal and interest of said Distri.et*s Road and bridge bonds. Be It Farther Resolved that any former actions and resolutions,.,. ---of the Board of Coun Commissioners of Indian River County, Florida for and on behalf of said Vero Bridge District whereby the provisions of the Kanner Bill were adopted for said District be, and they are, he -by rescinded and that all monies now -held by the State Board of Administration: derived from gasoline.taxes for the benefit of said District shall be applied to debt service requirements of outstanding bonds and interest coupons thereon or the said District and shall not be held I lor purchase of - bonds at market prices below par as provided tinder the Kanner Bill. Be It Farther Resolved that a certified copy of this Resolution be forwarded by the e e Clerk of this board to the'State Burd of -Administration and a like copy thereof be forwarded Honorable E'4, V, Knott, State Treasurer.. The mot$on for the adoption -of the resolution being duly seconded, it was declared a- dopted by the following vote: Ayes: Bi P. Poole, S. E. Glover,.ank-0. Vickers, and ,Edwin A. Helsetho Nays: Hone, The request for the Boards Approval of Mrs, Mattie Jackson Fox (Mrs, George A. Fox) who has not been a resident of this County* for six months be allowed to work in EPA Sewing Doom, was denied. Frank A. Knight, Road Superintendent, appeared before the Board, and requested pay for laborers (negroes) who had been spreading mil, be made Saturdays January 22, 1938, to which the -Board agreed# MDtion to that effect, was made by Commissioner Irankk 0, Vickers, seconded by Counissioner S. E, Mover. Motion carried. William W** Frick, Sheriff, filed his semi-annual report of fees and commissions for the period of July lst., 19317 to December 31st., 19399 as followss a, ,. 10 ! . Civil Docket ......... ......................•.......i � 323433 Arrests for'other W7l3eriffi�ir.•.••••.•.••.••••♦•••i.••.i• 38i+ A�+0 Criminal lioBtSi.•••..•••••ei••••••••••••.••••••••.•.•••• 1031.14 General Court Costs,...e•••••e••e•••••••••••••..•.i.ri•. 833.30 Commission®sof fines and Costs colleeted......•..1...•., 49.60 TOTAL RECEIPTS*......2274.95 Estelle Rym®r......:....o .............................i. 260.00 Upkeep Auto, Gas & Oil* ... 183.31 Frank Foots. Dept. Sheriff .............................. 81..00 John Beugnot, Dep. Sheriff..., ..................•....... 7.50 Julius Barker, Dep. Sh®riff ...............i............. 40.40 TOTAL 0. 511*81 NETIHCOb6E..i..................................... 173.14 Whish report was duly sworn to before Douglas,,Baker, Clerk Circuit Court, on the 12th. day of January, 1938,6 `Thecae being no further business, on Motion being made, seconded and carried, the r� Board,, then adjourned. Y" Atte a a . c e Clark* ---- --------------------------------------------------------------------------------------- Tuesday February 1. 1938. The Board of County Commissioners in and foP Indian Fiver County, Florida, met at the Courthouse in Vero Beach, at 9x30 o°clack A. X. Tuesday February lst., 1938 in regular ad- journed meeting with the following members of the Board present; E. F. Poole, Chairman; S. F. Glover; Edwin A. Helseth and Frank C. Vickers. Also present were Charles A. Mitchell, Attorney to the Board, Wm. W. Frick, Sheriff and Douglas Baker, Clerk, Mr. 11. H. Boyd, representing the Speeder Machinery Corporation, reported that the Company, who rented the County owned Universal Crane, as set forth on page 105 County Commission- ers Minute Book #2, had finished with the machinery as of -January 20, 1938 and that the rent would cease as of that date. Bir. Boyd requested permission to sell the machinery and on motion made by Frank C. Vickers, seconded by Edwin A. Helseth and carried, was authorized to sell the machinery at the best obtainable price at a minimum of.$1500.00 net to this Board and such: price to be cash or negotiable paper that the Speeder Machinery Corporation will accept on II