CCMtg12-17-34,~iDJOU"R~i:~~ REGULAR
1Je c . 1 "7th.. 1934
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Council met in adjourned Regular session, ( a continuat~:on ~+
of the Regular idieeting of ;ec. 6th, 1934) liec. 1?th. 1G34 ~f
at 8 i~l~~i. Present, ~~.~,.Bistline, Pr-es.- 5.8.:t'rosser-O,H.Frai~.-
B. R.Gray-L. R. Fayn.e- ~tlayor J. H. i~,ier ick. Vat er ~.~`orks Hand
`.C`rustee5 ~'.C.81ade and ]3. J.Uverstreet. atty. ZoF.Boyle. ~!'
Chairman t3istline stated tr?at as he ~~u~as familiar with the
efforts being made to recover• tltinee ~f~fater ~F~orks Bonds note
held by the Seminole Caur_ty Schaol Bo~.rd that properly
belonged in the Sinking r'u_~.d account sa'f the b~Iater ~~~orks
:fond 1'rust~es, that he proposed to~introduce a 'resolution
authorizing t~ze Bond trustees to execute a .release ~,gs.inst
the Longue®od Mate Bank whereby said. Bonds might ~ recav-
ered, and asked that he be allowed~Uto take th.e floor for the
purpose at the proper• time, and. that at this time i~~.
Prosser be made Chairman rr•o-~.Cem. Vltith the unanimous
of the Council i~Ir. Prosser took the chair for the finis
and asked ~ttorne;y Boyle to proceed with ar_ outlir_e of
situation to date.
consen'
being.
the
T~~r. Boyle stated that while up to tr~is time i t .insight appear
t~'iat not a great deal had been accox~plished toward recovery
of the Bonds, th at he had been g~i€ing Lhe matter much tires
and~had made numerous trips to 4rlanda to confEr with ivir.
Richard, the Liquidating agent. `t`hat while the Bonds had
been unlawfully removed from. the irking ~°und ar_d could of
course be recovered by criminal action, said action would
probably have to be instituted irL Tallahassee and would be'
expensive. That the better plan in riffs estimation v~ovld
be to accept fir. Richards offer to c.tte~npt to recover the
bonds by releasing all claims against the Trust,~3-X1,000.
Bonds ar_d deposit of ~1,9r~7.89) and in lieu thereof, file
a cor~.noY~ claim for X1,000. azid accept the three .fonds with
all coupons attached. `T'hat lYir. Richard stated that the ~choo:
Hoard hay at a special meeting agreed to accept 1,25. for
their deposit of X1,500. arsd release the three Bonds held as
collateral for said deposit,
~Iir. ~istline then offered the folloerring RESOLU`l'IGT~;
~`dHEREAS claims have been filed by the 'trustees of the
VVaterwox~ks :~ox?L.s of the `I'owr_ of Long~raod with the Liquid-
ator of the Zongwoo~. state Bank for three (3) X1,000.00
~`~aterworks hands maturing in July, 1935 and. also for a
deposit in said Hank of X1,9'7'7.89 and
~~HEREgS thr~y are advi~
that the Liquidator of the Longwood ~~ate sank avill obtain
said bonds and deliver them to the 't'rustees of the ~~3ateruror:
t3or_ds upon delivery to hire or R.l.Richard., Liquidating ~ger_~
of a fu11 anal complete release,. of all claims mains t sa-~d
d
~~C
1~-1"7-3~~ ~iLJUUF~~~;L R~uUTL~R
Trust,. except a ~p1,000®00 common clairr~, and
V~1FLR~ 4S it
appears advisable tQ the Touan Council of 'the Tov~.r~. of Long-
wood, Mori da, to accept said offer ~' the Liquidator,
g '1'I-~R~F'URE B~; I
R:~~OL~ by the Tov~un Council of the To~~rr_ of Longwood, Fla.,
that ~. J. Gverstreet and x'. Ca Slade, as '1'rus.tees of the
1~aterv^Yorks Bonds of the Town of Longwood, .Mori da, be and
they are hereby authorized ar~d instructed to execute a
proper release of all clai~s whatsoever gain.st the Longwood
state yank and the Liquidator thereof, except a common cla'~
ir_ the arr~ount of ~p1,000.00, and to deliver said release to~~
the Liquidator of the Longwood ,Mate ~ar_-'~ upon delivery °to
tY!em of the three 1,000.00 Su'~aterworks 13or_ds with all coup-
ons attached, and they a.re further instructed to immediate
cancel said bonds and coupons upon receipt thereof from say?
Liquidator and to deliver said caneelled.bor~ds to C.B.Seara
T'oVrn Clerk of the Town of Longwood, Florida,
`1'b.is Resolutior_ was duly seconded by councilman Bayne.
The vhairman the r_ called fm a vote, vnrhicn. r-exulted;
or adopt; on ~of~the~:.,Reso3ution -Four.
Against ~~,:.~: ~ _..:. ~ s ;,~t~ sr ~a - i~lone .
~;hairman rro-Tem. ~rosser• then declared the Resolution to
shave been unar~irnously adopted, and instructed that copies
be given I~rir. Boyle for delivery to the Liquidating Agent,
~~ 't'here being no fu#~ther business this body stands adjourned
~~ to meet at the next regular rneetir_g date of January 3rd. 1~3!
i;hairman .pro-'fern.
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