HomeMy WebLinkAbout08-10-1970 Regular MeetingSTATE OF ALABAMA
COUNTY OF BA LDWI N
The City Council of the City of Fairhope met in regular
session at the Adult and Tourist Recreation Building on Morphy
Avenue on Monday, August 10, 1970 at 7:30 P.M., with the fol-
lowing members present: Mayor R. C. Macon, Councilmen: James P.
Nix, Robert H. Cowen, Henry G. Bishop and Sam E. Box. Council-
man John A. Robertson being absent.
Minutes of the previous meeting were approved.
Motion by Councilmsn Nix seconded by Councilman Cowen that
Ordinance No. 447, An Ordinance to Provide For Certain Improve-
ments on Bon Secour Avenue, introduced at the regular meeting
of July ?8, 1970, be adopted as introduced. Motion carried.
Motion by Councilman Nix seconded by Councilman Cowen that
the following Resolution be adopted. Motion carried.
RESOLUTION
A RESOLUTION authorizing, empowering and directing the
execution by the Mayor of the City of Fairhope, Alabama of an
amendment to the electric power contract between the City of
Fairhope, Alabama, and the Alabama Power Company, its successors
or assigns, for the supply of electric power to the Municipal
electric distribution system of said City.
BE IT RESOLVED by the City Council of the City of Fairhope,
Alabama, as follows:
SECTION 1. That the Mayor of theCity of Fairhope, Alabama,
be and is hereby authorized, empowered and directed for and on
behalf of the City Council of the City of Fairhope to execute an
amendment to the electric power contract with the Alabama Power
Company, a corporation, its successors or assigns, the terms of
which are herein set out and approved in all things by the City
Council of the City of Fairhope, Alabama, to -wit:
ALABAMA POWER COMPANY
Birmingham, Alabama
AMENDMENT TO CONTRACT FOR ELECTRIC SERVICE
FOR PREFERENCE CUSTOMERS OF THE
UNITED STATES GOVERNMENT
THIS AMENDMENT, made by and between ALABAMA POWER COMPANY
hereinafter called the "Company") and THE CITY OF FAIROPE,
hereinafter called the "Customer"� for delivery of electric
capacity and energy at the following delivery points: Customer's
delivery point as described in the "Main contract".
WITNESSETH: THAT,
WHEREAS, the Company has entered into a contract dated June
19, 1970, with the United States of America (Hereinafter calld
the "Government") providing means for the disposition of power
from the Allatoona, Buford, Clark Hill, Hartwell, Walter F.
George Lock and Dam, and Millers Ferry projects allocated to
the State of Alabama (which contract is hereinafter called
"Government -Company Contract", and the six projects involved,
called the "Projects"); and
WHEREAS, the Customer has entered into a contract with the
Government (which contract is hereinafter called the "Government -
Preference Customer Contract"), for the purchase of power from
the Projects; and
WHEREAS, the Customer a'nd the Company executed on March 28,
1966, a contract for electric service, hereinafter referred to
-2-
as "main Contract" which the parties hereto desire to amend
solely in the respects hereinafter set forth;
NOW, THEREFORE, in consideration of the foregoing and of
the mutual covenants and agreements hereinafter contained and
of One Dollar ($1.00) and other valuable considerations each
to the other paid, the receipt of which is hereby acknowled-
ged, the parties do hereby agree as follows:
FIRST: The contract for electric service in effect
between the parties or any extension, renewal or modification
thereof is hereby amended to permit the Customer to purchase
power assigned to it from the Projects.
Amendment to Contract for Electric Serive for
Preference Customers of the United States Government
SECOND: The Company agrees to sell and the Customer a-
grees to buy at the rate and under the terms and conditions
contained in said contract for electric service all capacity
and energy required by the Customer to supplement capacity
and energy purchased under the Government -Preference Customer
Contract. Commencing with deliveries under the Government -
Preference Customer Contract, the Company shall, in computing
bills for the capacity and energy furnished under the contract
for electric service, deduct from the Customer's monthly ca-
pacity and -..energy requirements at the point of delivery t*lrne
a.mouht of. -capacity 7from,th6 'Projects 'a)ssigned:'to�- ,a d point
of- delivery'Ainder.: t:he Government -Preference Customer Contract
adjusted in accordance with subsection 10.3 of the Government -
Company Contract and that quantity of energy determined by
multiplying the daily energy allocation available to such
point of delivery (determined in accordance with the procedure
specified in Section 5 of the Government -Company Contract) by
the number of days covered by the meter readings during which
the Government -Preference Customer Contract has been in opera-
tion. The Company will bill the Customer separately for capa-
city and energy furnished under its contract for electric
service as amended hereby.
THIRD: This amendment shall become effective upon the
effective date of the Government -Preference Customer Contract,
and shall terminate upon the termination of either the Govern-
ment Company Contract, or the Government -Preference Customer
Contract.
FOURTH: All.the terms and conditions of the main Con-
tract between Customer and Company, as heretofore amended,
shall remain in full force and effect except as specifically
changed in this present amendment thereto.
I'N WITNESS WHEREOF, the parties hereto have caused this
amendment to be executed in duplicate by their authorized of-
ficers of this the 24th day of June, 1970.
A LABA mA POWER COMPANY
By
Vice President
ATTEST:
THE CITY OF FAIRHOPE
Customer
ATTEST:
By
Title
-3-
SECTION 9. Be it Further resolved that the mayor of the
City of Fairhope, Alabama, is hereby authorized, empowered and
directed to execute the foregoing amendment in triplicate in
the name and on behalf of the City Council and to affix the
Corporate Seal of said Corporation thereto, and when the same
is executed, said mayor shall deliver two copies of the execu-
ted amendment to said Alabama Power Company, its successors or
assigns, and retain the other copy.
Adopted this the loth day of August, 1970.
S/ Marie Moore
City Clerk
Approved this the loth day of August 1970.
S; R. C. Macon
Mayor
STATE OF ALABAMA )
BALDWIN COUNTY )
I, Marie Moore, Clerk of the City of Fairhope, Alabama,
hereby certify that I am the custodian of the records of the
City Council of said City, that the foregoing pages contain
a true and correct copy of a resolution introduced at a re-
gular meeting of said City Council duly coovened and held on
the loth day of August, 1970, as said resolution appears in
the Minute Book of the Said City Council of the City of Fair -
hope, Alabama, this the llth day of August, 1970.
S/ Marie Moore
City Clerk
Motion by Councilman Box seconded by Cou'ncilmah Cowen
that the City Clerk be authorized to cash Savings Certificate
of Water and Sewer Improvement Fund. Motion carried.
Motion by Councilman Nix seconded by Councilman Cowen that
Grade Ordinance No. 444, An Ordinance Fixing and Establishing
the Grade of A Certaion Portion of Azalea Street, introduced
at the regular meeting of June B, 1970 be adopted as introduced.
Motion carried.
Motion by Councilman Cowen seconded by Councilman Box that
application of Alvin E. Boykin for building permit on SE Cornerof
Twin Beach Road and South Section Street be approved as sub-
mitted. Motion carried.
Motion by Councilman Box seconded by Councilman Nix that City
ask for bids on repairing building on Morphy and Church Street,
biilding to be used for health center. Motion carried.
Motion by Councilman Bishop seconded by Councilman Nix
that bills be approved for Payment. Motion carried.
Motion by Councilman Cowen seconded by Councilman Box
that Council abolish the Fairhope Golf and Recreation Facili-
ties Board of the City of Fairhope and that Mayor flacon be
authorized to write a letter to the members extending Council's
appreciation for work done by the Board. Motion carried.
The Following Resolution was introduced and duly adopted
by the City Council:
RESOLUTION
BE IT RESOLVED on this loth day of August, 1970 by the
Mayor and Council, City of Fairhope, Alabama as follows:
-4-
That the City wants to provide its citizens with adequate
recreational areas andfacilities to insure a normal social
and healthy environment.
That the City of Fairhope is in favor of submitting an
Application to the Bureau of Outdoor Recreation for financial :.
assistance in acquiring new land for recreational purposes.
Furthermore, the City of Fairhope agrees to share the ex-
pense.' of administrative cost as related to this application
with the Bureau of Outdoor Recreation.
THEREFORE, let it be rezolved by the mayor and Council,
City of Fairhope, Alabama, that the Bureau of Outdoor Recrea-
tion Application be submitted to the proper authorities as
soon as possible.
The following Resolution was introduced in writing by
Councilman Box and read to the meeting:
i
EXTRACTS FROM THE MINUTES OF A REGULAR
MEETI14G OF THE CITY COUNCIL OF THE CITY
OF FAIRHOPE, ALABAMA
The City Council of the City of Fairhope, Alabama,
convened in regular public session in the City Hall in
said City on the loth day of August, 197.0, at 7:30 o'clock
P.M., the regular time and place for such meetings. On
roll call, the following answered present:
Mayor R. C. Macon
Councilmen: Henry G. Bishop
Sam Box
Robert Ii . Cowen
James P. Nix }-
John A. Robertson - �'-`---`J'
The City Clerk was'also present.
The Mayor declared all members (a quorum) present
and the meeting open for the transaction of business. The
minutes of the last meeting were read and approved.
Thereupon, the following resolution was introduced
in writing by Mr.,oyG and read in full by the
City Clerk:
! t
A RESOLUTION AUTHORIZING THE CITY OF FAIRHOPE
TO BORROW MONEY FOR THE LAWFUL PURPOSES OF
CONS`1'RUCTING STREET IMPROVEMENTS AND PURCHASING
TRANSFORMERS AND AUTOMOTIVE EQUIPMENT AND TO
ISSUE AS EVIDENCE OF SUCH INDEBTEDNESS ITS
GENERAL OBLIGATION WARRANTS IN THE PRINCIPAL
AMOUNT OF $300,000
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
FAIRHOPE, ALABAMA, as follows:
Section 1. That the City of Fairhope (herein called
the "City") does hereby warrant and represent as follows:
(a) That the assessed value of the taxable property
within the corporate limits of the City, as assessed for State
taxation during the preceding year, is $6,5911,960.
amounts:
(b) The City is presently indebted in the following
(i) General Obligation Public Improvement
Warrants dated December 1, 1963, bearing interest
at the rate of 31z per cent per annum and maturing
serially on December 1 in the years 1970 through
1973,.issued for the purpose of constructing street
improvements, the cost of which in whole or in part
was assessed against the property abutting, and
benefitted by, such improvements and secured by a
pledge and assignment of such assessments $ 701000
(ii) General Obligation Note dated June 10,
1969, payable to the order of First National Bank
of Fairhope, in the original principal amount of
$200,000, bearing interest at the rate of 4-3/4 per
cent per annum, payable quarterly, due June 10,
1970, but extended, the unpaid principal balance of
which is now
(iii) A General Obligation Note dated
/9 70 payable to the order ,of First
(National Bank of Fairhope, in the principal amount
of $100,000 bearing interest at the rate of
6 per cent per annum, payable on demand and
issued to anticipate the funds to be.made avail-
able -by a part of the proceeds of the Warrants
100,000
2.
herein authorized, and to be repaid from
the same $100,000
(iv) Current accounts payable, paid
on or before the loth day of each month,
balance presently outstanding not exceeding $ 7a,�;:
(c) The City is presently specially obligated to pay
the following obligations, which are not debts of the City,
from the revenues of its utility systems:
(i) Water and Sewer Revenue Bonds dated
July 1, 1950, bearing interest at the rates of
32 and 3k per cent per annum and maturing serially
on July 1 in the years 1971 through 1980
(ii) Water and Sewer Revenue Bonds of
the City dated July 1, 1953, bearing interest
at the rate of 4-3/4 per cent per annum and
maturing serially on July 1 in the years
1982 through 1986
(iii) Water, Gas and Sewer Revenue Bonds
(1961 Series) dated December 1, 1961, bearing
interest at the rates of 3-7/8 per cent and 4 per
$ 35,60000
cent per annum, and maturing serially on December 1
in the years 1970 through 1991
$8703000
(d) The City has no Bonds, notes or other financial
obligations of any kind other than those hereinabove stated
in subparagraphs (b) and (c). The Warrants herein authorized
are therefore within the limit on the indebtedness of the
City imposed by the Constitution of Alabama.
(e) The City requires immediate,funds to pay the
cost of constructing street improvements in the City, the
cost of which has been estimated by Moore & Company of
Fairhope at $150,000; which cost is to be assessed in whole
or in part against the property abutting and benefitted by
such improvements; and $15,000 principal amount of the
Warrants maturing in each year hereinafter authorized to
M
be issued shall be considered to be issued for the purpose of
providing such funds.
.(f) The City requires the following additional capital
improvements for its electric distribution system:
Transformers for the electric system of the City $76,000
Line truck:for the electric department of the
City 27,000
$103,000
and the following $103,000 principal amount of the Warrants
hereinafter
authorized
to be
issued shall be considered to be
issued
for
the purpose
of providing
such
funds:
Warrant
No.
5
maturing
August
1,
1975
$6,000
Warrant
No.
6
maturing
August
1,
1976
16,000
Warrant
No.
7
maturing
August
1,
1977
17,000
Warrant
No.
8
maturing
August
1,
1978
19,000
Warrant No. 9 maturing August 1, 1979 21,000
Warrant No.10 maturing August 1, 1980 24,000
(g) The City requires the following automotive equip-
ment for its use:
A front end loader for the street department $23,000
Police cars for the public safety department 102000
Trucks for general city maintenance and
repairs and public services, including an
ambulance 14,000
$47,000
and the following $47,000 principal amount of the Warrants
hereinafter authorized shall be considered to have been issued
for providing funds for the acquisition of the aforesaid
automotive equipment:
Warrant No. 1 maturing August 1, 1971 $ 8,000
Warrant No. 2 maturing August 1, 1972 9,000
Warrant No. 3 maturing August 1., 1973 11,000
Warrant No. 4 maturing August 1, 1974 121000
Warrant No. 5 maturing August 1, 1975 7,000
4.
(h) The estimated useful life of the above capital
improvements, including automotive equipment, is not less than
10 years.
Section 2. That the City shall borrow funds from
First National Bank of Fairhope for the purposes stated in
subparagraphs (e), (f) and (g) of Section 1 of this Resolution,
and as evidence of its indebtedness therefor shall issue its
General Obligation Warrants in the principal amount of $300,000
(herein called the "Warrants"). The Warrants shall be dated
August 1, 1970, shall be numbered from 1 to 10, consecutively,
in the order of maturities, and shall be in the following respect-
ive denominations and shall mature on the •first day of August in
each of the following years and in the following amounts:
YEAR AMOUNT
1971 $ 23,000
1972 24,000
1973
26,000
1974
27,000
1975
28,000
1976 31,000
1977 32,000
1978
34,000
1979
36,000
1980
39,000
The Warrants issued for each of the purposes stated shall be
as above set out in subparagraphs (e), (f) and (g) of Section
1 of this Resolution. The Warrants shall be subject, however,
to optional prior redemption as stated on the form of the
Warrant hereinafter authorized. The Warrants shall bear
interest from date at the rate of 6 per cent per annum, payable
annually on August 1 in each year until maturity, first
interest payable August 1, 1971.
Section 3. That the Warrants shall be payable as to
both principal and interest to First National Bank of Fairhope,
5•
or its.assignees, at the First National Bank of Fairhope,
Fairhope, Alabama, in lawful money of the United States of
America. The Warrants shall constitute an order to the City
Treasurer to pay at said Bank the face amount thereof, at
par and without deduction for exchange or costs of collection,
on the due date thereof, and the City hereby covenants and
agrees to have available adequate funds at said Bank for such
purposes at such times and to provide for the payment of all
fees, exchanges and charges for effecting payment at par and
without any deductions.
Section 4. That the Warrants and the form of registra-
tion and assignment of the Warrants shall be in substantially
the following form:
6
(Form of Warrant)
UNITED STATES OF AMERICA
STATE OF ALABAMA
BALDWIN COUNTY
CITY OF FAIRHOPE
GENERAL OBLIGATION WARRANT
No. $
The City of Fairhope, a municipal corporation organized
and existing under and by virtue of the laws of the State of
Alabama, for value received, hereby acknowledges itself indebted
to First National Bank of Fairhope or its assignee, in the
principal sum of
and hereby orders and directs the City Treasurer of the City
of Fairhope to pay to said payee or its assignee noted hereon
said sum on August 1, 19_, and to pay interest on said sum
at the rate of six per cent per annum, payable August 1, 1971,
and annually thereafter on August 1 in each year until maturity.
Both principal and interest are payable in lawful money of the
United States of America, at par and without deduction for
exchange or costs of collection at First National Bank of
Fairhope, Fairhope, Alabama.
This Warrant is one of a duly authorized issue of
$300,000 principal amount of General Obligation Warrants of the
City of Fairhope, Alabama, of like tenor except as to principal
amounts, maturity dates and numbers, issued to evidence the
indebtedness of the City of Fairhope for money borrowed by
the City for the following purposes: $150,000 for the con-
struction of street improvements, the cost of which in whole
or in part is to be assessed against the property abutting
and benefitted by, such improvements, $103,000 for the purchase
of transformers and a truck for the electric system of the
City, and $47,000 for the purchase of automotive equipment,
pursuant to the provisions of the Constitution and laws of the
State of Alabama, including particularly Title 37, Section 466,
7.
Alabama Code of 1940, and a resolution and proceedings of
the City Council of the City of Fairhope duly held, passed
and conducted. The indebtedness evidenced by this and the
other Warrants of this issue is a general obligation of the
City of Fairhope and the full faith and credit of said City
are hereby sacredly and irrevocably pledged to the payment of
the principal thereof and interest thereon. The City of
Fairhope has also pledged and assigned as security for the
repayment of $150,000 principal amount of such indebtedness
which matures in the principal amount of $15,000 in each of
the years 1971 through 1980, the proceeds of the assessments
made or to be made against the property abutting, and bene-
fitted by, the street.improvements to be constructed with
$150,000 of the proceeds o,f the Warrants, and has transferred
and assigned for the benefit of the payee of the Warrants
and its assigns, the lien of the City of Fairhope thereon,
with power to enforce the same either at law or in equity.
The Warrants of this issue are redeemable at the option
of the City of Fairhope at any time provided that one entire
Warrant shall be redeemed. Any redemption of the Warrants
may be in whole or in part, but if in part shall be in the
inverse order of maturities and identification numbers,
latest maturities and highest numbers first. Any redemption
shall be at a redemption price equal to the principal amount
of the Warrant or Warrants to be redeemed plus accrued
interest thereon to the redemption date plus a redemption
premium equal to one year's interest thereon. Ten days'
notice of the intended redemption shall be given to the
named payee and to each assignee, if any, of the named payee,
or in the event that the names of all assignees shall not be
L;
known to the City or that it shall be impossible or impractical
to notify all of them, notification shall be given as above
provided to the named payee and each known assignee of any
of the Warrants and also by publication once not less than
30 days nor more than 60 days prior to the intended redemp-
tion date in "The Bond Buyer", a financial newspaper published
in the City and State of New York, or in the event that "The
Bond'Buyer" is not then published, then in some comparable
financial newspaper or journal. If any of the Warrants shall
have been called for redemption as hereinabove provided,
interest shall cease to accrue from and after the redemption
date unless default shall be made in the payment of the
redemption price thereof.
This Warrant is non-negotiable but is transferable by
assignment noted hereon. Each taker, owner, purchaser or
holder hereof, by receiving or accepting this Warrant, shall
consent and agree and shall be estopped to deny that the
City may treat any person in possession of this Warrant,
regardless of how such possession may have been acquired
and regardless of the genuineness or effectiveness of any
assignment, as the absolute owner for all purposes and pay-
ment of principal or interest to any such person shall. dis-
charge all obligations therefor hereunder.
It is hereby recited, certified and declared that the
indebtedness evidenced by this Warrant is lawfully due, with-
out condition, abatement or offset and that all acts, conditions
and things required by the Constitution and laws of the'State.
of Alabama, to happen, exist and be performed precedent to and
in the execution, registration and issuance of this Warrant
and the adoption of the+resolution.authorizing is execution,
registration and issuance, have happened, do exist and have
been performed as so required and that the principal amount of
this Warrant together with all other indebtedness of the City
of Fairhope, are within every debt and other limit prescribed
by the Constitution and laws of the State of Alabama.
R
IN WITNESS WHEREOF, the City of Fairhope, acting by and
through its City Council has caused this Warrant to be
executed in its name and on its behalf by its Mayor and
attested by its City Clerk and its corporate,seal to be
impressed hereon and has caused this Warrant to be dated
August 1, 1970. ,
CITY OF FAIRHOPE
By
Mayor
Attest:
S E A L City Clerk
(Form of Registration to be printed or
written on the reverse of each Warrant)
I hereby certify that this Warrant and the interest
thereon have been duly registered by me as a claim against
the City of Fairhope, State of Alabama.
City Treasurer of the City of
Fairhope, Alabama
(Form to be printed or written on the
reverse of each Warrant)
A S S I G N M E N T
For value received, the Warrant on the reverse hereof
is assigned to the assignee designated in the left hand
column below by the owner and assignor designated in the right-
handcolumn below, without recourse on or warranty by such
assignor, except that he warrants that he is the owner of said
Warrant and has a right to assign it.
ASSIGNEE ASSIGNOR
10.
Section 5. That all Warrants herein authorized
shall be executed in the name and on behalf of the City by
the Mayor and attested by the City Clerk. The official
corporate seal of.the City shall be impressed thereon and
S
a record kept thereof. The Warrants and interest thereon
shall be registered by the City Treasurer in the records
maintained by said Treasurer as a claim against the City,
which registration shall be made simultaneously as to all
said Warrants and interest thereon. Said officers are
hereby directed so to execute, attest and register the
Warrants and interest thereon.
Section 6. That the Warrants shall be general
obligations of the City and the full faith and credit
of the City are hereby sacredly and irrevocably pledged
to the punctual payment of the principal thereof and
interest thereon. The City hereby covenants that ad
valorem taxes will be annually levied and collected,
insofar as such taxes may be permitted by the present or
any future provisions of the Constitution of Alabama, on
all taxable property in the City, and that the proceeds
from said taxes and all other funds of the City, from
whatever source derived, shall be applied to the payment
of the principal of and interest on said Warrants as
they respectively mature and come due in amounts sufficient
for such purposes.
Section 7. That the City does hereby pledge as addi-
tional security for the payment of. $150,000 principal amount
of the Warrants maturing in the principal amount of $15,000
in each of the years 1971 through 1980, the proceeds of the
assessments made or to be made against the property abutting;
and benefitted by; the street improvements to be constructed
with $150,000 of the proceeds of the Warrants and the City
does hereby transfer and assign for the benefit of the holder
11.
or holders of the Warrants the lien of the City on the
property against which such assessments shall be made, with
power to enforce the same at law or in equity. The City
does hereby covenant and agree that it will take and perform
and cause to be taken and performed all proceedings and
actions necessary to cause such assessments to be made,
completed and collected as provided by law. The City
Treasurer shall be charged with the duty of collecting
all such assessments to be made to pay the cost of the
aforesaid street improvements and the City Treasurer shall
provide and keep a sinking fund account to which shall be
credited all collections to be made with respect to such
improvements and such sinking fund shall be used only for
the purpose of paying the principal of and interest on the
Warrants of this issue to which the said assessments are
pledged. The City Treasurer shall keep the sinking fund
in First National Bank of Fairhope, Fairhope, Alabama, which
bank is hereby designated for such purpose by the City.
Section 8. That the City hereby covenants and agrees
to deposit in a special passbook savings account in First
National Bank of Fairhope, Fairhope, Alabama, on or before
the last day of each month, beginning August, 1970, an
amount equal to the sum of the following:
(a) An amount equal to 1112 of the interest
payment coming due on the Warrants during
the'next succeeding year, plus ,
(b) An amount equal to 1112 of the principal
of the Warrants maturing during the next
succeeding year.
The City will also pay and deposit into said special
passbook savings account all sums which theretofore should
have been paid into said account and which have not been so
paid. Said payments into said account shall continue until
there shall be held in said account a sum sufficient to pay
the principal and interest then due and thereafter to become
12.
due on all the Warrants outstanding. The monies deposited
in said account shall be applied solely to the payment of
the principal of and interest on said Warrants as such
principal and interest mature and come due, provided, how-
ever, any monies so held in said account in excess of the
amount necessary to pay the principal of and interest on
the Warrants during the then ensuing twelve months' period
may, at the option of the City, be used to pay the redemption
price of any Warrants redeemed under the provisions of this
resolution, including any expenses incurred in connection
therewith.
Section 9. The monies on deposit in the aforesaid fund
and account shall at all times be collaterally secured by
a deposit of bonds or other obligations which are either
direct and general obligations of or are unconditionally
guaranteed as to both principal and interest by the United
States of America and having a market value at least equal
to the amount by which the monies on deposit in the aforesaid
fund and account shall exceed $20,000. The monies at any
time on deposit in the aforesaid fund and account shall be and
at all times remain public funds impressed with the trusts
for the purposes for which such fund and account are herein
respectively created.
Section 10. That the City hereby covenants and agrees
that, if the principal of and interest on the Warrants are
not paid promptly as such principal and interest mature and
come due, it will pay to the payee or assignee thereof all
expenses incident to the collection of any unpaid portion
thereof, including a reasonable attorney's fee. The Warrants
shall bear interest at the rate of 8 per.cent per annum from
and after the respective maturity dates thereof if not then
paid.
13.
Section 11. That the terms, provisions, conditions
and covenants set forth in this Resolution constitute a
contract between the City and each owner of each of said
Warrants and shall remain in effect until the principal
of and interest on said Warrants shall have been paid in
full.
Section 12. That the Warrants, duly executed, shall
be delivered to First National 5ank.of Fairhope, upon payment
to the City of the sum of $300,000 plus interest accrued
thereon to the date of delivery and payment. The Mayor and
City Clerk and the City Treasurer, or either of them, are
hereby authorized and directed to effect•such delivery and,
In connection therewith, to deliver such closing papers
containing such representations as are required to demonstrate
the legality of said Warrants, and the absence of pending or
threatened litigation. The City Treasurer shall give a
receipt to the said purchaser for the purchase price paid
and such receipt shall be full acquittal to said purchaser
and it shall not be required to see to or be responsible
for the application of the proceeds of the Warrants. Never-
theless, the City Treasurer shall hold said proceeds in
trust and shall apply the same solely for the purpose for
which they are issued.
Section 13. That in the event any one or more of
the provisions of this Resolution or any of the Warrants
shall for any reason be held illegal or invalid, such
illegality or invalidity shall not affect the other provisions
of this Resolutions or said Warrants, and this Resolution
shall be construed and enforced as if such illegal or invalid
provisions had not been contained therein.
Section 14. That all ordinances, resolutions and
orders or parts thereof in conflict with this Resolution
are, to the extent of such conflict, hereby repealed.
14.
Section 15. That this Resolution shall take effect
immediately.upon its adoption.
Mayor
S E A L
Attest:
City Clerk
W
It was moved by Mr. Box that all rules and regulations
which, unless suspended would prevent the immediate consider-
ation and adoption of said resolution be suspended and that
unanimous consent to the immediate consideration of said
resolution be given. The motion was seconded by Mr. Nix and
was carried, those voting aye being:
Mayor R. C. Macon
Councilmen: Cowen
Bishop
Nix
Box
Councilman Robertson being absent.
Nays: None.
Councilmen Cowen and Bishop stated that they would abstain
from voting on the resolution but had agreed that it should
receive the immediate consideration of the Council.
The Mayor declared the motion carried.
After said resolution had been discussed and -consider-
ed in full by the Council, it was moved by Mr. Nix that said
resolution be now placed upon its final passage and adopted.
The motion was seconded by Mr. Box. The question being put
as to the adoption of said motion and the final passage of
said resolution, the roll was called with the following
results:
Ayes: Mayor R. C. Macon
Councilmen: Nix
Box
Councilmen Cowen and Bishop abstained from voting.
Councilman Robertson being absent.
Nays: None
The Mayor declared the motion carried and said resolution
passed and adopted as introduced and read, and he signed the
same in approval thereof.
Correction from original draft
ma =approved
S
e
City Clerk
It was.moved and seconded that the meeting be
adjourned. Motion carried.
Minutes approved:
S E A L
Attest:
City Clerk
Mayor
Councilman
Councilman
Councilman
• Councilman
Councilman
4
STATE OF ALABAMA )
BALDWIN COUNTY )
CERTIFICATE OF CITY CLERK
I, the undersigned duly elected,'qualified and acting
City Clerk of the City of Fairhope, Alabama, do hereby
certify that the foregoing 17 pages constitute a complete,
verbatim and compared copy of extracts from the minutes of
the regular meeting of the City Council of the City of
Fairhope held on the loth day of August, 1970, as recorded
in the minute book of the City, and that the resolution set
forth in the minutes entitled "A RESOLUTION AUTHORIZING THE
CITY OF FAIRHOPE TO BORROW MONEY FOR THE LAWFUL PURPOSES OF
CONSTRUCTING STREET IMPROVEMENTS AND PURCHASING TRANSFORMERS
AND AUTOMOTIVE EQUIPMENT AND TO ISSUE AS EVIDENCE OF SUCH
INDEBTEDNESS ITS GENERAL OBLIGATION WARRANTS IN THE PRINCIPAL
AMOUNT OF $300,000" constitutes a complete, verbatim and
compared copy of the resolution duly introduced, read and
adopted at said meeting and recorded in the minute book of
the City.
IN WITNESS WHEREOF, I have hereunto set my hand and
affixed the official corporate seal of the City of Fairhope,
Alabama.
City Clerk
S E A L
City of Fairhope July,_ 1970 Bills.•
General Fund:
Alabama League of Municipalities -Dues
400.00
Baldwin Pole & Piling Co."
717.00
Robt. S. Bateman & Assoc. Planning
222.50
Bedsole's - Police
12.00
Burford Equipment Co. Paid
22.12
Baldwin County Animal Clinic
16.95
Jack Cooke & Co. Fire
20.00
City Market
21.49
Coastal Concrete Co. - Harbor Board
277•-25
Computer Service
71.00
Eastern Shore Restaurant - Prisoners meals
27.475
Fuel Oil Supply
58.52
Fairhope Pharmacy - Police
2.12
Fairhope Hardware
159.93
Fairhope Texaco
10.55
Fairhope Clay Products
72.00
Foley Tractor Company
20.00
Fairhope Auto Parts
16.16
Fairhope Laundry
16.80
Fairhope Courier
215.60
Gaston Motor Co.
9.26
Goodyear Service Store
109.'02
Greers - Dog Food
47.29
Gulf Lumber Yards
428.-00
Lee Groves - XKroxing
35.40
Jones & Armstrong Steel Co.
70.46
Julwin's - Prisoners Meals
0.10
Arthur Keller - Harbor Board
18.00
0. Lowell - Sts.
76.20
Lewis -Yeager
39.95
McKean, Inc.,
1.95
M & S Service Station
8.50
Material Sales
202.23
3 M Co.
70.75
Marine Specialty Company Harbor Board
1.30
Marine Specialty Co. Paid
15.68
Maury Ins.
19392.00
National Linen Service
12.90
Parker House - Prisoners meals.,
2.00
Ponder Co. Harbor Bd, 89.729 Geri.' 57•00
146.72
Pitman Realty
1 444.�00
Rudy's Automotive
40.83
Reynolds Service Center
20.00
E. G. Rickarby
32.50
Shell Service
8.00
So. Auto Parts
77.26
Specialty Sign Mfg., Co.,
171.07
Sears Roebuck & Co.
23.67
Steber Chevrolet
10.85
Shepherd Printing
10.85
So. Uniform Co.
11.99
Trailway Oil Co.�,
193.22
John M. Warren Cool
56.40
Western Lumber
31.43
Wilson-Dismukes
3.50
Waller Bros,
37.77
7,2 2.79
Paid
37.80
79204.99
Electric Fund:
Alabama Power Company
Southeastern Power Administration
Busy Bee Garage - Ice Account
Computer Service
Foley Tractor Company
Graybar Electric Company
Gulfport Creosoting Co.,
Hill-Soberg Co.1
Hatfield and Co.;
219615.68
3,723.90
68.50
234.34
16.-29
2,499.,00
19603.39
214.32
29576.82
Joslyn Mfg.` Co.,, Sub -Station 1603.'809 School 166.10 19769.90
McKean, Inc.
M & S Service Station
Nix and Fleming
Riviera Utilities
New Sub -Station
1MUXMXXtQOW W RIO= Shell Service
Southeastern Testing Lab.
Turner Supply
Gas Fund:
Computer Service
Capell, Howard, Knabe & Cobbs
Foley Tractor Company
Fairhope Auto Parts
Moore -Handley, Inc.
Grand Hotel - 3 tie-in Lakewood
Material Sales Co.
Marine Specialty Company
Merchants National Bank
Poser Printing Company
Pringle Gas Meter Repair
Ponder Company
Audy's Automotive
Shell Service
So.� Auto Parts
United Gas Pipe Line Company
Western Auto
Welding Engineering Supply
Wholesale Supply
Water and Sewer Fund:
American Cast Iron Pipe Co.
Coastal Concrete
Computer Service
Davis Mfg.' Co.i
Gaston Motor Co.
M & S Service Station
Material Sales Co.
Marine Specialty Cow
Shell Servvice
Western Auto
Thompson Hayward Chemical Co.
Wholesale Supply
3.69
4.50
2,131.-27
179.43
8.00
_ 32.30 - -
40.48
37, 21.81
234.34
542.61
198.12
2.58
74.02
300.,00
19.49
Paid 7.'54
265.00
52.80
79.45
85:26
8.10
3. 00
9.61
7,776.34
6.49
2.`00
Paid 25.22
999 92. 7
Paid 3346 _
9, 659.21
7, 080.25
152.00
234.34
6, 678.°00
9.115
5.:50
194.40
40.78
3.'00
8.95
292.-50
Paid 132.445 i , 831.�32
Paid 132.�4
149698.87
Recreation:
City Market
Fairhope Courier
Carl Grant Tractor Company
Jones Chemicals
McKean, Inc.
material Sales
Riviera Utilities
Sportsman's Store
Thoss Sporting Goods
Vasko Electric
Western Lumber & Supply
Gasoline Tax:
Coastal Concrete Company
11.75
2.30
4.88
65.00
2.78
17.19
Paid 156.98
6715
368.65
87.'50
21,16
80-54
Paid 156.98
•5
187.50