HomeMy WebLinkAboutStock Market Jitters Affects North Orlando -
Stock Market Jitters 5 ' Y Present councilmen, who include
Mayor George Fuller, Charles Ro-
well, Jay Wetz and Lloyd Brown,
Affects North Orlando
taxes that the increases funds taxes is necessary to raise funds
for operating the government.
Ity U. II. Anderson At present, some 225 residents
Residents of the village of North Orlando, chartered in 1959 as an using the various utilities are pay-
lncorporated town, Are watching the present jittery stock market with 1ng a monthly tax of a flat 35 cents
interest, particularly the quotations en the Silver ('reek Precision Co, for water, gas, telephone and elec-
Sliver Creek, mother company of the North Orlando to,, developers tricity each.
of the area, hurt in punt year!' picked tip delinquent tax tub on,hundreds In three weeks, the final reading
of Iota which are again being ad- for passing an ordinance for a ten
v,rt•tiscd on the 1945 tax rolls as right dangerous, and persons living percent tux on each facility, will
delinquent. Back in '59, the North on the small ranches and sumtier be ready by councilmen,
Orlando Co, rid itself of responsi- ranchettes are suffering from this Proposed by the present adminis-
bility for maintaining the village by hardship. tration is the erection of a $26,000
promoting its incorporation. Also, the entire population, num- office building, which would also
After Monday's market nosedive .
bering about 1,200 has felt the ef- house the fire and police depart-
which followed a week of down- '
fects of the FHA and VA loan ments. Also proposed is the pur-
ward fluctuation, Silver C r e e k freeze, ordered as a result of the chase of a second fire truck.
• shares were swinging between 18 development's designation as a de- There have been two known fires
and 22 cents. Exactly one year ago (Continued on Page 2) in North Orlando during the past
they were selling at around 75 cents seven years.
per share and there is wide specula- • The one-man police department,
tion that, barring a quick recovery, pressea area. with a salary in the $200-a-month
money may not be forthcoming to The difficulties of being a town bracket, has a part-time assistant
hall its North Orlando properties have prompted a segment of the who is paid$1 an hour.
• out again this year. population to petition fur de-free_ Under Mrs. Van 1.epoel's admin-
Residents of the area say th . chisement. At present several pert- istratlon, two volunteer policemen
hope the company will be force tions are being circulated with this were paid $25 a month each for
to pull out. North Orlando has not in view. expenses. At present, funds are
progressed as promised. There are State Senator Mack Cleveland has required for a paid clerk and for
many vacancies among the ap{+roxi- told the disgruntled citizenry that reimbursing councilmen for such
mately 300 homes built by the deve- if he can obtain 50 percent of the I expenses as telephone calls. They
topers in the town proper and it residents' signatures he will pre- —
is anticipated that at least an addi- sent a petition to the next Legisla-
tional 30 homes will be vacated by ture to have the charter nullified
• Navy-affiliated families following and return the people to a county
the shut-down of the Sanford Naval status.
installation. This is favored by many since
Streets and roads have not been the possibility of being swallowed up
maintained, many are ternieddown- by ('nsselberry has Been removed receive no salaries.
�. ___. __f _.. _.___�_-_---- by passage of a new annexation Iaw Reportedly voted recently at a
rr�{ulriny a nuuitrlpality to provide council meeting was $4.0 for re-
puhitc tUllliles before annexation. I'ulrl, a road,�locatrd in the mkl-
Acklcd to other' problrnis to the tilt' of nowhere end approximately
present threat of an increase in one-halt mile from the n e a t o v t
taxation. Residents of the town re- home, Meanwhile other roads,
eluding In-
fused the developers' offer to pur- eluding those which must be travel-
ed by the school bus, are badly in
one million dollars, the money to need of repair.
be provided by municipal improve- These and other difficulties ap-
ment bond sales. pear insurmountable as long as the
They also refused to pay a $7,500 area is operating as an incorporated
legal fee made by the companywhen town.
the town was first chartered and With de-franchisement and the
governed by officers named by the withdrawal of the North Orlando
Co., which would likely result if
CO1T1latiy• the delinquent taxes remain unpaid,
Among residents promoting the. many residents are convinced they
dr.-franchisement is Mrs. John Van
could solve their problems as to-
Iiepoel, one of the first elected dividunt"
councilmen and the village mayor
from April 1965 to April of this
year.