The Ocala evening star. [volume] (Ocala, Fla.) 1895-1943, 1915-11-03
LOCAL LEGISLATION
Continued from First Page)

Standard Oil Company filed writ
ten request for settlement. Same was
ordered paid as soon as the city is in
funds.
The fair association asked for free
lights for the Office in town which, on
motion of Mr.. Tompkins, was granted.
The report of the bond trustees
was read, and is as follows:
Response of the Bond Trustees
Ocala, Fla, Oct. q, 1915.
To the Honorable City Council of the
City of Ocala, Florida.
Gentlemen: In response to your re-
quest that the bond trustees comply
with the request of Mr.. ]. d. Robert
son, mayor, as contained in his letter
OF October 9Th, requesting the bond
trustees to render a statement of the
S4290 paid to Hoehler, Cummings &
Prudden in relation to the sale of
sewerage bonds of the city of Ocala,
we beg to say.
Section Is of the ordinance, au-
thorizing the bond issue aforesaid, is
in the words and figures following:
Section 13. The said trustees are
hereby authorized to incur such reas-
enable expense as may be declared to
be necessary by majority of the
said board in, about and surrounding
the preparation and sale of the said
Ic TnrnT+c YlrnTTIdInop a.
cords and other incidental expense,
which expense shall be paid upon
approved by the city council"
We regret to say that we are un-
able to furnish an itemized state
ment of this account, as none has
been furnished by the purchaser. The
purchaser submitted a bid for the
entire $4,000 of bonds provided the
city would allow $1,000 for attorneys
| fees, commissions, etc. This bid was
opened in public, number of citizens
were present and the entire matter,
with a copy of the bid, was referred
to the council for its concurrence or
ldisapproval of the sale, the bond
trustees having accepted it as the
best bid. The city council concurred
in this sale and authorized the bond
trustees to conclude the contract.
When the purchasers accepted the
100000 of sewer bonds, we reported
this matter to the board If we should
accept this money, or il the entire
transaction should wait until the ap-
prevail or disapproval of the water
works bonds, the purchaser having
agreed that the pro rata commits
sions, attorneys fees, etc., should be
deducted from the sale of these
bonds, which pro rata commissions
attorneys fees, etc., amounted te
$4,000. This matter was reported te
the council, and the council directed
us to accept the offer of Hoehler
Cummings & Prudden, to pay for the
sewer bonds and allow the water
works bonds to be taken up when ap.
proved. In compliance, with your
concurrence in the sale and your au.
thorization to sell the 100000 OF
sewer bonds, we closed the transac.
ton, and this council is entirely ia.
miliar with the entire transaction
from the beginning.
Just what amount of this was PAID
for attorneys fees, what amount fol
commissions, we are not advised, as
this was the offer made and accepted
and whatever was deducted did not
come into the hands of the trustees
but. was paid under your direction, or
rather, deducted by Hoehler, Cum
mings & Prudden in the sale of the
bonds.
We understand that the mayor has
requested Hoehler, Cummings &
Prudden to give him a statement OF
these charges, and that they have de-
clined to dosso, claiming it to be a
lprivate matter, and under the cir
cumstances, we have not deemed il
proper for US to request the informa-
ton ourselves. Their bid was for pan
and accrued interest, with a deduc-
ton of these charges, and it was ac-
cepted by us openly, reported to your
council in identically the same form
and concurred in by you, and we re-
greet to say that we have no further
information than this and the report
rendered has shown these items.
With reference to the exchange
item, we believe if you will examine
bank methods of doing business, you
will find that all banks charge ex-
change, and this was an item that
was charged to the Commercial Bank
! by the bank in Toledo and in New
York, through whom the money was
transferred, as we are advised. The
bid, as you will recall, was that they
would pay for these bonds in Toledo,
Ohio, and there was no method of
getting the money here other than by
transferring it through banks, or to
send some one to Toledo to collect
the currency and bring it here,
which would have been equally as
great cost, if not greater, and GER
tainly the method adopted was the
orderly one and customary one adopt
ed in such cases. Respectfully,
R. S. Hall, Chmn.
E. ]. Crook, Sec'y.
w. T. Gary.
Board of Bond Trustees of City of