The Ocala evening star. [volume] (Ocala, Fla.) 1895-1943, 1915-07-28
COUNCIL HAS REDUCED
PRICE Of CURRENT
OCALA WILL HAVE ONE OF THE LOWEST ELECTRIC LIGHT
RATES IN AMERICA
BONDS FOR IMPROVEMENTS SOLD TO OHIO BIDDER

The city councl! met last night IN
adjourned session with a full board
present, namely: Chairman Meffert,
Councilmen Knight, Tompkins, Roess,
Gerig, Moore, Smith, Nash and Faus-
ett.
The matter of the sale of bonds was
taken up and the entire file or minutes
of the actions of the board Of bond
trustees, consisting of Messrs. R. S.
Hall, chairman; w. t. Gary, secre-
tary, and z. J. Crook, together with
the offer and their acceptance of the
bid of the Commercial Bank to buy
the 100000 sewerage bonds and the
S55, 900 of waterworks bonds. The
minutes showed that the offer had
been accepted and that the funds were
to be left in the bank without inter
est, that the city was to pay the sum
of S6,650 for expenses, attorney fees,
commissions, ETC., and that the bank
was to pay par for the bonds and in
terest to date of delivery.
In the report the managers of the
NbltiiAAGANielA A9eAlAh SAd1Cd AAeAA NAlGN
did not wish to withdraw their offer,
but were advised that it would be IL
legal, the chairman of the board of
bond trustees being a director i'm their
bank and the vice president of the
bank was a member of the council,
and the bank was therefore willing to
abide by the decision of the board of
bond trustees.
The minutes of the board of bond
trustees then showed that the next
bid they had was from Messrs. Moeh-
Ter, Cummings & Prudden of Toledo.
Ohio, whose bid was identically the
same as the one made by the CONNER
cial Bank in all respects, and was ac-
companied by a certified check for
$3.50, and they recommended to the
council that the same be- accepted.
Some discussion followed and figures
were offered to show how much the
bonds would bring net, when the lost
interest and the expenses were fgur-
ed in, and the result showed that the
bonds would be selling practically at
94 and a fraction. Considerable dis
cussion followed and the chairman
called on several prominent citizens
who were in the audience for their
opinions. They were of the unani-
nous opinion that the city should ac-
cept the offer. Mr.. Munroe, Col. Rog
ers and DR.. Chace expressed them
selves. Mr.. Munroe stated that while
the expenses of the sale seemed high,
in view of all circumstances and con-
ditions he thought it as we'll as the
city could do, even though the entire
matter was thrown up and the sale
of bonds re-advertised, and he thought
the offer should be accepted.
Mr.. Roess offered a resolution that
the bond trustees report be concurr-
ed in and adopted, with the addition
of clause, requiring the bank or
banks handling the funds to give a
good and sufficient bond of 500 of
the amount carried by it or each to in
demnify the city.
Much discussion followed, in which
Mr.. Meffert and AIR. Gerig raised OBJ
jections and did not favor the paying
of such heavy expenses for the sale
of the bonds nor the loss of interest.
A vote was finally taken, Messrs. Mef-
fert and Gerig voting no and the other
seven members voting yes and the re-
port Of the bond trustees was adopted
and the sale Of the bonds to Messrs.
Moehler, Cummings & Prudden was
ratified. A representative of the firm
who was present was asked how soon
he could have the money here and
available and he said within fifteen
days, as he would take with him
transcripts of all documents that his
firms lawyers would have to pass
Upon and the work would soon be
done.
Contractor McCaskiIl. representing
the Baptist church, was present re-
garding the building permit for the
new Sunday school annex that had
been held up. After considerable dis
cussion. the permit was granted. the
church to cover the building, sides
and roof, with iron. 1t was found TO
be within the fire limits and not in
keeping with the fire ordinance. Mr..
Meffert, we remember, voting against
IL
The communication from the Star
to publish the delinquent city tax
| list for 10 cents a single column line.
and, should it be awarded the list.
supply the Banner with the type for
/ one free insertion, was referred TO the
finance committee with power to act.
a communication was read from a