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10/04/2001Commission Agenda: 10-04-O1 ,. r' n 35? ACTION AGENDA - CLEARWATER CITY COMMISSION MEETING Thursday, October 4, 2001 - 6:00 P.M. - Commission Chambers 1. Invocation -Commissioner Hamilton 2. Pledge of Allegiance - Mayor. 3. Introductions and Awards a) Award: Florida Natural Gas Association, 2001 FNGA Marketer of Year - Jim McCulley, Clearwater Gas System b) Proclamations: Public Natural Gas Week - 10/7-13/01 Fire Prevention Week - 10/7-13/01 Clearwater Jazz Holiday, 22nd Anniversary & October Jazz Month 4. Presentations - Given. a) Library and PSTA Partnership - John Szabo, Library Director 5. Approval of Minutes - Regular Meeting 9/20/01 - Approved as submitted. 6. Citizens to be heard re items not on the Agenda John Doran complimented staff for clearing up debris from a fallen palm tree before the recent tropical storm had abated. Socrates Charoc invited residents to attend the 101-hour Jazz Marathon at the Royalty Theater, as part of the Jazz Festival, beginning 11 /15/01 at 7:00 p.m.. He requested City support of the Royalty Theater and artists. Anne Garris reported the deadline for the CAB design competition for the roundabout is 10/23/01. Results will be presented to the Commission on 11 /5/01. Design criteria is available on the web at www.att.net/ - cwgn4/centerpiece.htm. Jim Carino and George Krause expressed concern the City is not addressing the firefighter shortage. PUBLIC HEARINGS Not Before 6:00 P.M. 7. Public Hearing & First Reading Ord. #6858-01 - Vacating the 10-foot drainage and utility easements within Block 1 and Block 6 of Pine Crest Subdivision, 900 North Greenwood Avenue as described in Exhibit "A" of the proposed ordinance (City of Clearwater, V2001-18) (PW) ACTION: Approved. Ordinance passed 1st reading. 8. Public Hearing & First Reading Ord. #6859-01 - Vacating the 20-foot utility easements lying 200 feet south of the north right-of-way line of Ruth Eckerd Hall Drive, M&B 24-04, Section 9-29-16 E., 1111 McMullen Booth Road North as described in Exhibit "A". of the proposed ordinance (City of Clearwater, V2001-19) (PW) ACTION: Approved. Ordinance passed 1st reading. Public Hearing - Second Reading Ordinances 9. Ord. #6836-01 - Annexation (& redefining boundary lines of City to include said addition), 3011. Virginia Ave., Bay View City Sub., Blk. 1, N. 47' of Lots 5 & 6 (Taylor G. Bingham 111, ANX 01-06-12) ACTION: Adopted. 10-04-01 10. Ord. #6837-01 - Land Use Plan Amendment to Residential Urban, 3011 Virginia Ave., Bay View City Sub., Blk 1, N 47' of Lots 5 & 6 (Taylor G. Bingham III, ANX 01-06-12) ACTION: Adopted. 1 1. Ord. #6838-01 - LMDR Zoning, 3011 Virginia Ave., Bay View City Sub., Blk 1, N 47' of Lots. 5 & 6 (Taylor G. Bingham III, ANX 01-06-12) ACTION: Adopted. 12. Ord. #6844-01 - Amending the operating budget for FY ending Sep. 30, 2001 ACTION: Adopted. 13. Ord. #6845-01 - Amending the capital improvement budget for the FY ending Sep. 30, 2001 ACTION: Adopted. 14. Ord. #6853-01 - Creating new Section 32.042 of Chapter 32, Clearwater Code of Ordinances; providing for registration of Communications Services Providers ACTION: Adopted. 15. Ord. #6856-01 - Amend Clearwater Code of Ordinances, Appendix A, Article XIX, Streets, Sidewalks, Other Public Places, modifying fees charged for right-of-way permits ACTION: Adopted. 16. Ord. #6876-01 - Providing for refunding of outstanding Public Service Tax and Bridge Bonds, Series 1985, and the 1995 Improvement Revenue Bonds, Series 1995; and approve William R. Hough & Co. as the senior underwriter on the bonds and Solomon Smith Barney as the co- underwriter ACTION: Adopted. CITY MANAGER REPORTS CONSENT AGENDA (Items #17-24) - Approved as submitted. 17. Approval of Purchases per Purchasing Memorandum: 1) Bobcat Company, lease purchase 2001 Bobcat 864 rubber tracked loader with attachments, $31.640 (GSS/Fleet) 18. Ratify and confirm increase to contract with L&S Custom Coaches, Hudson, Florida, from $24,998.00 to $27,998.00 and to approve the requested $3,000 increase from the Police Department's FY 2000/2001 operating budget (PD) 19. Contract with All American Concrete, Inc. of Largo, Florida in the amount of $198,939.01 for Jack Russell Stadium Infrastructure Repairs, and authorize additional funding of $40,000, to be provided by a first quarter budget amendment from the unappropriated retained earnings of the General Fund (PR) 20. Ratify and confirm City Manager's approval of Second Amendment of Concession Management Agreement with Global Spectrum & Boston Concession Group, Inc. (PR) 21. Contract with McKim & Creed, P.A., Clearwater, Florida, in the amount of $198,000. for design, programming, and construction inspection services for the Water Pollution Control (WPC) Supervisory Control and Data Acquisition (SCADA) System Improvements (PW) 10-04-01 2 22. Authorize, after the fact, civil action against Florida Power for damages to gas facilities in the area of Walsingham Road, east of Indian Rocks Beach 23. Approve Commissioner Jonson's attendance at Florida League of Cities Legislative Conference November 15-16, 2001 24. Approve revised design of new Main Library (LIB) OTHER ITEMS ON CITY MANAGER REPORT 25. Res. ##01-36 - providing for the sale of not to exceed $12 million Improvement Revenue Refunding Bonds, Series 2001 (FN) ACTION: Approved. Resolution adopted. 26. First Reading Ord. #6905-01 - to allow traffic reporting aircraft an earlier takeoff time at Clearwater Airpark (MR) ACTION: Approved. Ordinance passed 1st reading. 27. Authorize initiating the renaming process, changing North and South Greenwood Avenue to Martin Luther King, Jr. Avenue (PW) ACTION: Approved. 28. Authorize the negotiation of a health insurance contract upon terms as contained in the United HealthCare response to RFP 51-01, with a 19% increase under a fully insured funding arrangement for the contract period 01 /01 /02 - 12/31/02, for a total estimated annual cost not to exceed $9,741,404; renew the mental health/substance abuse and EAP coverage contract to Bradman/Unips ych at an estimated cost of $159,820 for the contract period 01/01/02 - 12/31/02; and continue the current funding strategy for HMO Standard Plan at 100% for "Employee Only", 72% for "Employee Plus One", and 62% for "Employee Plus Family", with the same dollar amounts contributed to the other three plans (HMO Buy-Up, POS Standard, and POS Buy-Up) (HR) ACTION: Approved. 29. Markopoulos Lawsuit Settlement Agreement (ED) ACTION: Denied. 30. Municipal Code Enforcement Board 2 appointments (CLK) ACTION: Reappointed Duke Tiernan and appointed Kevin Teismann 31. Other Pending Matters - None. CITY ATTORNEY REPORTS 32. Other City Attorney Items a) Interlocal Agreements re Coastal Construction Control Line and Local Building Code Amendments ACTION: Approved. 10-04-01 3 33. City Manager Verbal Reports Assistant City Manager reported a stormwater utility briefing is scheduled for 10/15/01, followed by public presentation of the rate study & discussion of related projects, and first reading on 11 /1 /01. 34. Other Commission Action Gray and Aungst complimented the Fire Department re. last weekend's open house at Safety Village. Gray stated October is Breast Cancer Awareness Month. Morton Plant/Mease Hospital is offering a Breast Health Initiative program to provide mammograms for low-income women. Jonson said he was impressed by his visit to the Clearwater Free Clinic. Jonson invited residents to attend the Florida Birding Festival at the Harborview Center on 10/5/01. Jonson thanked Verizon Americast for broadcasting C-View to City residents who previously had been excluded. Jonson suggested residents spend a weekend at a Clearwater beach hotel and support local businesses. Hamilton invited residents to attend the Make a Difference Fishing Tournament on 10/6/01 at 7:00 a.m. at Pier 60. .Aungst reviewed tourism challenges, stating tourism officials may begin marketing the area to tourists who drive. Aungst urged residents to support local restaurants and businesses. 35. Adjournment - 10:55 P.M. 10-04-01 4 Commission cit Y Meeting 10-04-O1 note: 10/01/01Preliminary (Worksession) Agenda and paperwork that was in package initially but then not continued onto Thursday's agenda is at the back of this agenda pack. CITY OF CLEARWATER Interdepartmental Correspondence TO: Mayor and Commissioners FROM: Cynthia E. Goudeau, City e SUBJECT: Follow up from October 1, 2001 Work Session COPIES: William B. Horne, City Manager DATE: October 2, 2001 In response to questions raised at the October 1, 2001 Work Session, the following answers are provided in final agenda order: Revised Agenda including additional proclamations is provided. Item #20 - Boston Concession - The accounting basis for Globe's financial statement is a cash basis during the year; however, at year end the City adjusts to an actual accrual basis. Item #27 - Renaming Greenwood Avenue to Martin Luther Ding Avenue - The straw pole results are provided. Item #28 - Health Insurance - Comparison of United and Cigna page is provided Item #30 - Municipal Code Enforcement Board appointment - A list of current members and their occupations has been provided. The application for Dave Campbell consisted of one page. The term CERTAF represents Code Enforcement Review Task Force. i, Work session Item _ Clearwater City Commission _ Agenda Cover Memorandum Final Agenda Item Meeting Date: 10/04/01 SUBJECT/RECOMMENDATION: Approve the applicant's request to vacate the 10 foot drainage and utility easements located within Block 1 and Block 6 of Pine Crest Subdivision, (A.K.A. 900 North Greenwood Avenue), as more particularly described in Exhibit" A" of the proposed ordinance and pass ordinance Number 6858-01 on first reading, (V2001-18 City of Clearwater), ® and that the appropriate officials be authorized to execute same. SUMMARY: • The City of Clearwater is redeveloping the subject property with the Northwest Recreation and Aquatics Center. • The City of Clearwater has no utilities in the subject easements. • Pubic Works Administration has no objections to the vacation request. • Florida Power, Time Wamer, and Verizon Media Ventures, Inc. have no objection to the vacation request. • Verizon of Florida has no objections provided that the city pay for the removal of one telephone pole from the site. Reviewed by: Legal Info Srvc . yk &r- Budget N/A Public Works Purchasing N/A DCM/ACM / Risk Mgmt N/A Other Submitted by: City Manager Printaad on recvcled caner Originating Dept: NIA Public Works Administration Steve Doherty User Dept. K N/A A Attachments Ord. No. 685"1 Location Map Costs N/A Total Current FY Appropriation Code: Funding Source: CI OP Other vecerinw ,)nm _iR r_afu ..r menr%usafar ORDINANCE NO. 6858-01 AN ORDINANCE OF THE CITY OF CLEARWATER, FLORIDA, VACATING THE 10-FOOT DRAINAGE AND UTILITY EASEMENT LOCATED ALONG THE EAST PROPERTY LINES OF LOTS 6 THROUGH 11, INCLUSIVE OF BLOCK 1, PINE CREST SUBDIVISION; THE 10-FOOT DRAINAGE AND UTILITY EASEMENT LYING ALONG THE NORTH PROPERTY LINES OF LOTS 12 THROUGH 16, INCLUSIVE, BLOCK 1, OF PINE CREST SUBDIVISION; THE 10-FOOT DRAINAGE AND UTILITY EASEMENT LYING ALONG THE EAST PROPERTY LINES OF LOTS 6 THROUGH 11, BLOCK 6, PINE CREST SUBDIVISION; AND THE 10-FOOT DRAINAGE AND UTILITY EASEMENT LYING ALONG THE NORTH PROPERTY LINES OF LOTS 12 THROUGH 16, BLOCK 6 OF PINE CREST SUBDIVISION; PROVIDING AN EFFECTIVE DATE. FW WHEREAS, The City of Clearwater, owner of real property located in the City of Clearwater, has requested that the City vacate the drainage and utility easements depicted in Exhibit A attached hereto; and WHEREAS, the City Commission finds that said easements are not necessary for municipal use and it is deemed to be to the best interest of the City and the general public that the same be vacated; now, therefore, BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF CLEARWATER, FLORIDA: Section 1. The following: 10-foot drainage and utility easements located along the east property lines of Lots 6 through 11, inclusive of Block 1, Pine Crest Subdivision; the 10- foot drainage and utility easement lying along the North property lines of Lots 12 through 16, inclusive, Block 1, Pine Crest Subdivision; the 10-foot drainage and utility easement lying along the East property lines of Lots 6 through 11, Block 6, of Pine Crest Subdivision; and the 10-foot drainage and utility easement lying along the North property lines of Lots 12 through 16, Block 6, Pine Crest Subdivision, all being recorded in Plat Book 1, Page 66 of the Public Records of Pinellas County, Florida is hereby vacated, and the City of Clearwater releases all of its rights in the servitude as described above to the owner of the servient estate thereto. Section 2. The City Clerk shall record this ordinance in the public records of Pinellas County, Florida, following adoption. Section 3. This ordinance shall take effect immediately upon adoption. 1 Ordinance No. 6858-01 PASSED ON FIRST READING PASSED ON SECOND AND FINAL READING AND ADOPTED Approved as to form: &a-25? (One C. Hayman Assistant City Attorney Brian J. Aungst Mayor-Commissioner Attest: Cynthia E. Goudeau City Clerk 2 Ordinance No. 6858-01 EXHIBIT "A„ No t to 5CO/e This is not a survey 11 10 23/06 3 METTO STREET 2 6 5 1 23/x,9 8 10 11 12 7 , j TO ) *-%. _ PALMETTO 1 2 3 4 5 ]I.- 6 NICHOLSON ST. 1 3 2 3 4 7 5 6 2 3 4 6 z z w' a. 6 loo l 5 4 1 2 1 8 9 000 Vow ? 10 12 11 3 0352 14 -224 15 16 11 'Q VACATED RES. 12-6-22 6 00, 40 O 7 1 , 5 4 3 8 00 01 10, 2 1 9 Vac. 935 eye 2" 10 00 12 13 14 15 16 11 SEMINOLE 6 8 9 10 11 5 4 3 P " Alley 7 2 Fll 22 13 14 15 16 z 0 9 Z w w pw D STREET 00 ® Vacation Requested By Vcant , ?j V, V C 0 U STREET 4 J 1 1 CITY OF CLEARWATER, FLORIDA PUBLIC WORKS ADMINISTRATION ENGINEERING VACATION REQUEST y?2oo to omo.. CITY OF CLEARWA'TER .w TLm 900 GREENWOOD AVE. 2 of 0 "w .cp-rGW-ww 08/0 PINE CREST SUB 10-293-15E 278A PLAT BOOK 1 PAGE 66 101 III W .din? NORTH Scale 1" = 1320' Location Map City ofCle"W'lter 900 North Greenwood A venue PROJECT sm O u sU? T PALM BWFF ST' z wv{{ Igo a© 3 3 (i L7 C ?C? ?<? SY U 0 a ST ORGIA, -C E;? 01 LJ .,,r sT ?w= ? DRE W Li CH T E" V ,.AURA rSA 6060 I- F-1 FRAWLJN Q s Pow- ST N.E. ND ST 0 F PARKY1000 I SPRINGDALE D FOREST RD I= g ? ? ?a C? ST a ?5? L__J<CJ = a P?l PARK _V9 =-E a 12? ` U STi CITY OF CLEARWATER, FLORIDA PUBLIC WORKS ADMINISTRATION ENGINEERING °" W By VACATION REQUEST VA C2001-18 1a 00map NY CITY OF CLEARWATER Wscr 7Lm 900 GREENWOOD AVE. t 0F6 oe%m PINE CREST SUB w2 2TBA PLAT BOOK 1 PAGE 66 6es°O?NO`a-01 SANDY LA SENT IN ?1 I SANDY FkA O CrCLE Work session Item #: Clearwater City Commission Agenda Cover Memorandum Final Agenda Item # Meeting Date: 10/04/01 SUBJECT/RECOMMENDATION: Approve the applicant's request to vacate the 20 foot utility easement lying 200 feet south of the north right-of-way line of Ruth Eckerd Hall Drive, located in Metes and Bounds parcel 24-04, Section 9, Township 29 S., Range 16 E., (A.K.A. 1111 McMullen Booth Road North) as more particularly described in Exhibit" A" of the proposed ordinance and pass ordinance Number 6859-01 on first reading, (V2001-19 City of Clearwater), 19 and that the appropriate officials be authorized to execute sarne. SUMMARY: • The applicant. proposes to vacate the 20 foot utility easement to expand the existing Performing. Arts Center building. •. The City of Clearwater has no utilities in the subject easements. • Pubic Works Administration has no objections to the vacation request. • Florida Power, Time Warner, and Verizon Media Ventures, Inc. have no objection to the vacation request. • Verizon of Florida has no objections provided that an easement is dedicated over facilities that are being relocated. Reviewed by: Legal Budget N/A Purchasing N/A Info Srvc Originating Dept:L e N/A Public Works Administrat Costs N/A Total Public Works DCM/ACM Risk Mgmt N/A Other Submitted by, City Manager Drinforl nn rorve" nanPr L User Dept. N/A Attachments Ord. No. 6859-01 Location Map Current FY Funding Source: CI OP Other Appropriation Code: VACATION 20 01-19 Citv of Clearwater PVJ '2' ORDINANCE NO. 6859-01 AN ORDINANCE OF THE CITY OF CLEARWATER, FLORIDA, VACATING THE 20-FOOT BY APPROXIMATELY 172-FOOT UTILITY EASEMENT LOCATED APPROXIMATELY 200 FEET SOUTH OF THE NORTHERLY RIGHT-OF-WAY LINE OF RUTH ECKERD HALL DRIVE; PROVIDING AN EFFECTIVE DATE. WHEREAS, City of Clearwater, owner of real property located in the City of Clearwater, has requested that the City vacate the utility easement depicted in Exhibit A attached hereto; and WHEREAS, the City Commission finds that said easement is not necessary for municipal use and it is deemed to be to the best interest of the City and the general public that the same be vacated; now, therefore, BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF CLEARWATER, FLORIDA: Section 1 _ The following: See legal description attached hereto is hereby vacated, and the City of Clearwater releases all of its rights in the servitude as described above to the owner of the servient estate thereto. Section 2. The City Clerk shall record this ordinance in the public records of Pinellas County, Florida, following adoption. Section 3. This ordinance shall take effect immediately upon adoption. PASSED ON FIRST READING PASSED ON SECOND AND FINAL READING AND ADOPTED Approved as to form: jJ nee C. Hayman Assistant City Attorney Brian J. Aungst Mayor-Commissioner Attest: Cynthia E. Goudeau City Clerk Ordinance No. 6859-01 LEGAL DESCRIPTION CONTAINED IN O.R. BOOB 5680, PAGE 329; PUBLIC RECORDS OF PINELLAS COUNTY: A 20 foot utility easement lying 10 feet on either side of the following described line: From the center of Section 9, Township 29 South, Range 16 East, N 00°07'43" E, and along the North-South centerline of said Section 9, a distance of 94.50 feet; thence N 89°21'08" W, and parallel with the East-West centerline of said Section, a distance of 268.80 feet; thence N 00°07'43" E, and parallel with the North-South centerline of said Section, a distance of 377.60 feet; thence S 89°21'08" E, and parallel with the East-``Vest centerline of said Section, a distance of 285.59 feet, for a P.O.B.; thence S 33°17'43" E, a distance of 95.07 feet; thence S 22°=13'25" E, a distance of 25.24 feet; thence S 16°37'07" W, a distance of 37.57 feet; thence S =14°32'40" W, a distance of 13.73 feet to a point on the face of a wall of the existing building, said point being the point of ending. or'sq-o) EXHIBIT This is not a survey pw2- P_ 0.8 S. S 89021'013" E ' , 285.89 S 33°17'43" E \0p 95.07' S 22043'25" E 25.24s S 16037'07"W Approximate 37.57' s Location Exist. . Uj Building ? S 44032'40"W 13.73" in d' o P.O.E. o r.. P. A. C_ T. ,. S i * t, e O ' Z ' N 89021' OB" W 268.80' in ?.. C> C)an a Center See. 9-29-16 CITY OF CLEARWATER, FLORIDA PUBLIC WORKS ADMINISTRATION ENGINEERING VACATION REQUEST VAIC He VAC 2001-19 ucoaa n PACT, INC. wa w TLM 1111 MCMULLEN BOOTH ROAD 2 OF 6 Mu"a o aw 09/01 9-29S-16E Z74A 6859-01 Location Map pjva NORTH Pact, Inc. 1111 Scale 1" = 1320' McMullen Booth Road INW OR 7HE Z RWE DR S R 590 CLEARVATER S H s TROJECT O f7R r SITE V d' W tj ST $ o ARU6 A? 3 SPA < C 9 T ?` 9 v < m?, uvowa= KAPOK KOVE pR CARLOS ST ?q O / OLEN DAK v < s ST ll < 44 STA DR ? tS Torroos View LCL D C??C?o ST VIEW AVE c?0C?C? Q ? A AVE © HOYT AVE WOLFE RD eORDfAUx u I d VA AM LA ST CH oREx v!/? BAY V1 BAY U QF CHESAPEAKE ST ?S C3s"knd L _ IA AVE PARKWAY do' m ? DOtMBHC STREET ? YMES! EE Carolbo CSLWAY D CA1u Gw TO BAY BLVD S R 80 COURTM? 0 c tvI5-f-a/ CA ' 2nd Reading ORDINANCE NO. 6836-01 AN ORDINANCE OF THE CITY OF CLEARWATER, FLORIDA, ANNEXING CERTAIN REAL PROPERTY LOCATED ON THE SOUTHWEST CORNER OF MEADOW LARK LANE AND VIRGINIA AVENUE, CONSISTING OF BAY VIEW CITY SUBDIVISION, BLOCK 1, NORTH 47 FEET OF LOTS 5 AND 6, WHOSE POST OFFICE ADDRESS IS 3011 VIRGINIA AVENUE, INTO THE CORPORATE LIMITS OF THE CITY, AND REDEFINING THE BOUNDARY LINES OF THE CITY TO INCLUDE SAID ADDITION; PROVIDING AN EFFECTIVE DATE. Cl WHEREAS, the owner of the real property described herein and depicted on the map attached hereto as Exhibit A has petitioned the City of Clearwater to annex the property into the City pursuant to Section 171.044, Florida Statutes, and the City has complied with all applicable requirements of Florida law in connection with this ordinance; now, therefore, BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF CLEARWATER, FLORIDA: Section 1. The following-described property is hereby annexed into the City of Clearwater and the boundary lines of the City are redefined accordingly: North 47 feet of Lots 5 and 6, Block 1, Bay View City Subdivision, according to the plat thereof as recorded in Plat Book 9, Page 43, Public Records of Pinellas County, Florida (ANX 01-06-12) Section 2. The provisions of this ordnance are found and determined to be consistent with the City of Clearwater Comprehensive Plan. The City Commission hereby accepts the dedication of all easements, parks, rights-of-way and other dedications to the public, which have heretofore been made by plat, deed or user within the annexed property. The City Engineer, the City Clerk and the Planning and Development Services Administrator are directed to include and show the property described herein upon the official maps and records of the City. Section 3. This ordinance shall take effect immediately upon adoption. The City Clerk shall file certified copies of this ordinance, including the map attached hereto, with the Clerk of the Circuit Court and with the County Administrator of Pinellas Cor.nty, Florida, within 7 days after adoption, and shall file a certified copy with the Florida Department of State within 30 days after adoption. PASSED ON FIRST READING September 20, 2001 PASSED ON SECOND AND FINAL READING AND ADOPTED Approved as to form: Leslie K. Dougall-Sid s Assistant City Attorney Brian J. Aungst Mayor-Commissioner Attest: Cynthia E. Goudeau City Clerk Ordinance No. 6836-01 f TCHESAPEAKE STREET Jw -' PARK L N1 _ - - - ??.----? ----_ c? 80 VILLAS 70-42 -- ~ i -,_• - ? ? " cc ??-ww_ ' ? j TNIS IS NOT A ?l I-_SURVEY i Q ry -r 1 ?5?5 ?o CLEVELAND ST. 30 -`965-151: •341;-_'p3S DR • -, _' x: ; 12%05 I -- _ . ; " . ? "' ?, 1 ^•; ., j ^? V J LTS ' 1• J4 i Q C j ? o c 214, - - - TRAILER cr) - ; Q RY T :;0 j? .? - - -? R a 21/17 22/24 ! ! ?? n 11 3s 3ej 3713 -'9 !1(i VIRGINIA AVENUE 111 41 LLJ c i _ 01 41? 17 19 , -U M !15 --- LLJ ?t / \ 11g (t'? Itr'lrl 1 I; i? ,;.I L,7^ J s -` 147 ?3 COUNTY 'C REENENT ! i °~ " i KENTUCKY AVENUE I ;cl; codNrY. 14-ao7 , 115 t. ?? -"1 , co .. r- -t-- ?Ol ! o 700 I CLEJAHW TER 1201 1 - i ' Sc { 07 I ; E 3 ¢' 3 E:,?:" ! v J 10? E::fC. I 11 12 "_? t j(J "i 1.11 i t_8 1 I 'A, I u7 ::::::::............ ......:.., .,'...!. LLJ BA -- p 1?7 :31? I14C 126 132 139 - , 125 t 33 i 138 a 124 i t;1 ! 137 s! 30 7 Q 10?y j I E' }} 21 TERRAC _2 2 ! ! m 27 A PROPOSED ANNEXATION AND ZONING CLASSIFICATION OWNER: Taylor G. Bingham Ili CASE ANX 01-06-12 SITE: 3011 Virginia Avenue PROPERTY SIZE (ACRES): 0.11 - ZONING LAND USE PIN: 18/29/18/052921001/0051 FROM: R-3/County Residential Urban TO: LMDR Residential Urban ATLAS 292A PAGE: Exhibit "A" Ordinance No. 6836-01 ITEM # 10 3'-R? CA ;2, ORDINANCE NO. 6837-01 2nd Reading AN ORDINANCE OF THE CITY OF CLEARWATER, FLORIDA, AMENDING THE FUTURE LAND USE PLAN ELEMENT OF THE COMPREHENSIVE PLAN OF THE CITY, TO DESIGNATE THE LAND USE FOR CERTAIN REAL PROPERTY LOCATED ON THE SOUTHWEST CORNER OF MEADOW LARK LANE AND VIRGINIA AVENUE, CONSISTING OF BAY VIEW CITY SUBDIVISION, BLOCK 1, NORTH 47 FEET OF LOTS 5 AND 6, WHOSE POST OFFICE ADDRESS IS 3011 VIRGINIA AVENUE, UPON ANNEXATION INTO THE CITY OF CLEARWATER, AS RESIDENTIAL URBAN; PROVIDING AN EFFECTIVE DATE. WHEREAS, the amendment to the future land use plan element of the comprehensive plan of the City as set forth in this ordinance is found to be reasonable, proper and appropriate, and is consistent with the City's comprehensive plan; now, therefore, BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF CLEARWATER, FLORIDA: . Section 1. The future land use plan element of the comprehensive plan of the City of Clearwater is amended by designating the land use category for the hereinafter described property, upon annexation into the City of Clearwater, as follows: Pra a Land Use Category North 47 feet of Lots 5 and 6, Block 1, Bay View City Residential Urban Subdivision, according to the plat thereof as recorded in Plat Book 9, Page 43, Public Records of Pinellas County, Florida (ANX 01-06-12) Section 2. The City Commission does hereby certify that this ordinance is consistent with the City's comprehensive plan. Section 3. This ordinance shall take effect immediately upon adcption, contingent upon and subject to the adoption of Ordinance No. 6836-01, and subject to the approval of the land use designation by the Pinellas County Board of County Commissioners, and subject to a determination by the State of Florida, as appropriate, of compliance with the applicable requirements of the Local Government Comprehensive Planning and Land Development Regulation Act, pursuant to § 163.3189, Florida Statutes. PASSED ON FIRST READING September 20, 2001 PASSED ON SECOND AND FINAL READING AND ADOPTED Approved as to form: .7 11 40(?Q Leslie K. Dougfall-S dPs Assistant City Attorney Brian J. Aungst Mayor-Commissioner Attest: Cynthia E. Goudeau City Clerk I0 Ordinance No. 6837-01 c ¦ RU 1 , 1 r 1 , 1 1 , ? 1 1 CHESAPEAKE •. STREET R 1R/0S 1 1 1 1 1 RLK CLEVELAND ST -- --- ---- - -- - 1 -. - 1 1 1 1 Ru 1 1 , r 1 r ' , 1 , . 1 LLL<... R? ' 1 1 1 r -J r I ? KENTUCKY AVENUE RI ; ; I 1 1 I 1 1 1 t 1 I , 1 / 1 I 1 1 1 1 1 1 , / . ' 1 1 1 x-11 1 1 1 *??\?? r 1 . / , 1 R 1 cr 1 1 1 1 1 1 1 1 1 , 1 #'- 1 1 1 1 t 1 , . 1 1 J 1 ; 1 / 1 1 t 1 t 1 . 1 I I I I , I I r I r 1 / 1 1 , I 1 1 1 1 1 .. 1 1 1 1 '1 TENNESSEE AVENUE ' r 1 I IdElt&A Po?+o 7 11 1 1 / 1 1 , 1 1 ?/ 1 1 1 1 1 1 t /1 Q 1 1 1 --_ 111 • 1 1 1 1 1 . Q .- - a 1 1 1 1 1 I 1 } ,I 1 R ? R?l < ? ? ? ? ;I 1 1 in 1 1 1 1 1 li 1 1 1 1 1 1 1 1 CAROLINA AVENUE 1 CG t r 1 1 1 1 1 ? ? 1 1 1 1 1 , , , 1 1 , 1 1 , 1 1 1 1 1 1 1 / CGI' r GG ; / ; 1 --r- -r-? -r-?-?'r-T- t 1 r / I l r r 1 , ? , - - - GULF TO 1 1 I 1 ' R 1 I , , 1 , 1 1 1_ 1 COWY J-? rrow- Dw INS BA W W F- F- ,n --- Y RL1! RH C CG I COUNTYWIDE FUTURE LAND USE PLAN MAP OWNER: Taylor G. Bingham Ili CASE ANX 01-06-12 SITE: 3011 Virginia Avenue PROPERTY SIZE (ACRES): 0.11 ZONING FROM: R-3/County LAND USE Residential Urban PIN: 10/28/1®/05292/001/0051 T0: LMDR Residential Urban ATLAS 292A PAGE: Ordinance NO. 6837-01 (i& 3 ORDINANCE NO. 6838-01 AN ORDINANCE OF THE CITY OF CLEARWATER, FLORIDA, AMENDING THE ZONING ATLAS OF THE CITY BY ZONING CERTAIN REAL PROPERTY LOCATED ON THE SOUTHWEST CORNER OF MEADOW LARK LANE AND VIRGINIA AVENUE, CONSISTING OF BAY VIEW CITY SUBDIVISION, BLOCK 1, NORTH 47 FEET OF LOTS 5 AND 6, WHOSE POST OFFICE ADDRESS IS 3011 VIRGINIA AVENUE, UPON ANNEXATION INTO THE CITY OF CLEARWATER, AS LOW MEDIUM DENSITY RESIDENTIAL (LMDR); PROVIDING AN EFFECTIVE DATE. WHEREAS, the assignment of a zoning district classification as set forth in this ordinance is found to be reasonable, proper and appropriate, and is consistent with the City's comprehensive plan; now, therefore, BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF CLEARWATER, FLORIDA: Section 1. The following described property located in Pinellas County, 'Florida, is hereby zoned as indicated upon annexation into the City of Clearwater, and the zoning atlas of the City is amended, as follows: Property North 47 feet of Lots 5 and 6, Block 1, Bay View City Subdivision, according to the plat thereof as recorded in Plat Book 9, Page 43, Public Records of Pinellas County, Florida (ANX 01-06-12) Zoning District Low Medium Density Residential (LMDR) Section 2. The Planning and Development Services Administrator is directed to revise the zoning atlas of the City in accordance with the foregoing amendment. Section 3. This ordinance shall take effect immediately upon adoption, contingent upon and subject to the adoption of Ordinance No. 6836-01. PASSED ON FIRST READING September 20, 2001 PASSED ON SECOND AND FINAL READING AND ADOPTED. Approved as to form: • T? ZIJA ?A Leslie K. Dougall-Siklab Assistant City Attorney Brian J. Aungst Mayor-Commissioner Attest: Cynthia E. Goudeau City Cleric Ordinance No. 6838-01 PROPOSED ANNEXATION AND ZONING CLASSIFICATION OWNER: Taylor G. Bingham !!I i _CASE ANX 01-06-12 SITE: 3011 Virginia Avenue PROPERTY SIZE (ACRES): 0.11 ZONING LAND USE I PIN: 1e/29/16/05292/001/0051 FROM: R- 3/County Residential Urban TO. LMDR Residential Urban ATLAS 292A PAGE: Ordinance NO. 6838-Q1 C.A ? 2nd Reading ORDINANCE NO. 6844-01 AN ORDINANCE OF THE CITY OF CLEARWATER, FLORIDA, AMENDING THE OPERATING BUDGET FOR THE FISCAL YEAR ENDING SEPTEMBER 30, 2001 TO REFLECT INCREASES AND DECREASES IN REVENUES AND EXPENDITURES FOR THE GENERAL FUND, SPECIAL DEVELOPMENT FUND, SPECIAL PROGRAM FUND, WATER & SEWER FUND, GAS FUND, SOLID WASTE FUND, RECYCLING FUND, MARINE & AVIATION FUND, PARKING FUND, ADMINISTRATIVE SERVICES FUND, GENERAL SERVICES, AND GARAGE FUND, AS PROVIDED HEREIN; PROVIDING AN EFFECTIVE DATE. I? WHEREAS, the budget for the fiscal year ending September 30, 2001, for operating purposes, including debt service, was adopted by Ordinance No. 6608-00; and WHEREAS, at the Third Quarter Review it was found that increases and decreases are necessary in the total amount of $825,428 for revenues and $14,720,797 for expenditures; and WHEREAS, a summary of the amended revenues and expenditures is attached hereto and marked Exhibit A; and WHEREAS, Section 2.519 of the Clearwater Code authorizes the City Commission to provide for the expenditure of money for proper purposes not contained in the budget as originally adopted due to unforeseen circumstances or emergencies arising during the fiscal year; now, therefore, BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF CLEARWATER, FLORIDA: motion 1. Section 1 of Ordinance No. 6608-00 is amended to read: Pursuant to the Amended City Manager's Annual Report and Estimate for the fiscal year beginning October 1, 2000 and ending September 30, 2001 a copy of which is on file with the City Clerk, the City Commission hereby adopts as amendpci budget for the operation of the City, a copy of which is attached hereto as Exhibit A. Sectim . This ordinance shall take effect immediately upon adoption. PASSED ON FIRST READING September 20, 2001 PASSED ON SECOND AND FINAL READING AND ADOPTED Appr ved as to form: Pamela K. Akin, City Attorney Brian J. Aungst, Mayor-Commissioner Attest: Cynthia E. Goudeau, City Clerk Ordinance No. 6844-01 EXHIBIT A 2000-01 BUDGET REVENUE Original Budget 2000/01 First Quarter Amended Budget 2000101 Mid Year Amended Budget 2000101 Third Quarter Amended Budget 2000/01 udget Amendment General Fund: Property Taxes 25,832,120 25,832,120 25,832,120 26,018,720 186,600 Sales Tax 5,680,550 5,680,550 5,680,550 5,680,550 Franchise Fees 7,937,460 8,072,020 8,398,322 8,893,700 495,378 Utility Taxes 16,167,360 16,167,360 16,090,330 15,213,750 -876,580 Licenses & Permits 3,215,970 3,215,970 3,417,120 3,517,120 100,000 Fines, Forfeitures or 0 0 0 0 Penalties 1,415,900 1,415,900 1,500,000 1,500,000 Intergovernmental Revenue 8,982,510 9,018,311 8,768,849 8,759,209 -9,640 Charges for Services 2,121,620 2,121,620 1,924,810 1,826,490 -98,320 Use and Sale of City Property and Money 1,005,790 1,005,790 1,005,790 1,528,530 522,740 Miscellaneous Revenues 153,510 169,995 205,705 165,705 40,000 Interfund Charges/Transfers 11,077,210 10,967,130 11,002,690 11,265,075 262,385 Transfer from Surplus 0 -593,200 -593,200 425,818 167,382 Total, General Fund 83,590,000 83,073,566 83,233,086 83,943,031 709,945 Special Revenue Funds: Special Development Fund 12,559,680 12,754,680 12,754,680 12,951,570 196,890 Special Program Fund 2,441,300 2,911,522 3,912,522 5,397,105 1,484,583 Utility & Other Enterprise Funds: Water& Sewer Fund 40,558,520 41,454,370 41,454,370 38,601,370 -2,853,000 Gas Fund 23,068,450 32,641,240 32,824,740 33,255,820 431,080 Solid Waste Fund 15,384,000 15,565,000 15,757,000 15,927,000 170,000 Stormwater Utility Fund 5,055,000 5,387,210 5,387,210 5,387,210 Recycling Fund 2,320,330 2,359,940 2,393,540 2,397,490 3,950 Marine and Aviation Fund 2,852,660 3,251,981 3,466,511 3,704,491 237,980 Parking Fund 3,608,748 3,608,748 3,937,978 4,061,978 124,000 Harbonriew Center Fund 2,442,420 4,342,000 4,357,000 4,357,000 Internal Service Funds: Administrative Services Fund 7,779,880 7,627,658 7,758,508 7,928,508 170,000 General Services Fund 2,885,690 2,885,690 2,885,690 2,885,690 Garage Fund 8,821,000 8,821,000 8,711,000 8,861,000 150,000 Central Insurance Fund 12,425,180 15,170,219 17,865,219 17,865,219 Total, All Funds 225,792,858 241,854,824 246,699,054 247,524,482 825,428 Ordinance #6844-01 EXHIBIT A (Continued) 2000-01 BUDGET EXPENDITURES First Third Quarter Mid Year Quarter Original Budget 2000101 Amended Budget 2000101 Amended Budget 2000/01 Amended Budget 2000/01 Budget Amendment General Fund: City Commission 204,950 204,950 219,170 219,170 Administration 3,042,730 3,064,270 3,105,980 3,105,980 Legal 1,237,360 1,236,310 1,236,310 1,236,310 City Clerk 1,181,320 1,180,390 1,180,390 1,210,390 30,000 Financial Services 1,950,840 1,949,240 1,949,240 1,949,240 Human Resources 989,580 1,039,990 1,039,990 1,039,990 Police 26,536,190 26,553,650 26,603,650 26,603,650 Fire 15,118,810 15,106,950 15,106,950 15,106,950 Planning & Development Services 4,470,380 4,486,480 4,486,480 4,486,480 Public Works Administration 7,465,250 7,459,090 7,471,140 7,471,140 Parks & Recreation 13,227,740 13,216,860 13,250,370 13,253,190 2,820 Library 4,375,040 4,426,796 .4,426,796 4,426,796 Quality of Life Administration 725,890 706,065 706,065 706,065 Marine - Pier 60 310,950 310,690 310,690 333,190 22,500 Marine - Sailing Center 170,020 170,020 170,020 170,020 Grant Writer 66,180 66,180 66,180 66,180 Non-Departmental 2,506,550 1,885,415 1,903,665 2,558,290 654,625 Transfer to Surplus 10,220 10,220 0 0 Total, General Fund 83,590,000 83,073,566 83,233,086 83,943,031 709,945 Special Revenue Funds: Special Development Fund 12,450,820 8,583,456 8,826,911 9,395,936 569,025 Special Program Fund 2,321,300 2,791,522 3,792,522 5,277,105 1,484,583 Utility & Other Enterprise Funds: Water & Sewer Fund 39,482,520 39,482,520 39,340,830 21,368;070 -17,972,760 Gas Fund 22,999,180 32,497,317 31,621,575 31,678,445 56,870 Solid Waste Fund 15,367,580 15,445,380 15,539,820 15,590,790 50,970 Stormwater Utility Fund 5,036,180 5,364,820 5,364,820 5,364,820 Recycling Fund 2,320,330 2,359,940 2,393,440 2,394,010 570 Marine and Aviation Fund 2,815,930 3,239,731 3,403,731 3,613,731 210,000 Parking Fund 2,939,920 2,992,110 3,048,600 3,048,600 Harborview Center Fund 2,433,870 2,431,539 2,446,539 2,446,539 Intennal Service Funds: Administrative Services Fund 7,779,880 7,627,658 7,758,508 7,758,508 General Services Fund 2,835,000 2,835,000 2,853,000 3,023,000 170,000 Garage Fund 8,778,510 8,778,510 8,668,510 8,668,510 Central Insurance Fund 10,577,260 12,975,260 15,670,260 15,670,260 Total, All Funds 221,728,280 230,478,329 233,962,152 219,241,355 -14,72.0,797 Ordinance #6844-01 CAS 2nd Reading ORDINANCE NO. 6845-01 AN ORDINANCE OF THE CITY OF CLEARWATER, FLORIDA, AMENDING THE CAPITAL IMPROVEMENT BUDGET FOR THE FISCAL YEAR ENDING SEPTEMBER 30, 2001, TO REFLECT A NET INCREASE OF $2,498,202 PROVIDING AN EFFECTIVE DATE. WHEREAS, the Capital Improvement Budget for the fiscal year ending September 30, 2001 was adopted by Ordinance No. 6609-00; and WHEREAS, Section 2.519 of the Clearwater Code authorizes the City Commission to provide for the expenditure of money for proper purposes not contained in the budget as originally adopted due to unforeseen circumstances or emergencies arising during the fiscal year; now, therefore, BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF CLEARWATER, FLORIDA; Section 1. Section 1 of Ordinance No. 6609-00 is amended to read: Pursuant to the Third Ou rter Amended Capital Improvement Program Report and Estimated Budget for the fiscal year beginning October 1, 2000 and ending September 30, 2001, a copy of which is on file with the City Clerk, the City Commission hereby adopts a Third Quarter Amended budget for the capital improvement fund for the City of Clearwater, a copy of which is attached hereto as Exhibit A. . Section 2. This ordinance shall take effect immediately upon adoption. PASSED ON FIRST READING September 20, 2001 PASSED ON SECOND AND FINAL READING AND ADOPTED Approved as to form: - k L Pamela K. kill City Attorney Brian J. Aungst Mayor-Commissioner Attest: Cynthia E. Goudeau City Clerk Ordinance #6845-01 177A EXHIBIT A CAPITAL IMPROVEMENT PROGRAM FOR FISCAL YEAR 2000101 First Qtr Mid Year. Third Qtr Original Amended Amended Amended Budget Budget Budget Budget 2000101 2000101 2000/01 2000101 Amendments Police Protection 1,320,260 1,070,260 1,070,260 1,070,260 Fire Protection 2,446,500 2,369,161 3,130,441 3,204,441 74,000 New Street Construction 0 -62,602 -312,602 -317,022 -4,420 Major Street Maintenance 4,605,890 1,200,146 1,219,832 1,224,252 4,420 Sidewalks 0 -94,256 45,842 924,842 879,000 Intersections 435,000 435,000 435,000 435,000 Parking 225,000 223,700 219,518 219,518 Miscellaneous Engineering 51,340,000 51,359,126 54,054,126 54,039,966 -14,160 Leisure 0 100,750 100,750 169,775 69,025 Park Development 3,425,000 6,779,107 6,772,337 7,502,337 730,000 Beautification 0 -4,107 -4,107 -4,107 Marine/Aviation Facilities 820,000 1,515,886 1,352,920 756,899 -596,021 Libraries 5,195,010 1,852,477 1,852,477 15,113,410 13,260,933 Garage 2,785,000 2,833,646 2,885,489 2,885,489 Maintenance of Buildings 193,600 241,666 36,608 43,940 7,332 General Public Buildings & Equipment 30,000 30,000 -1,000 -8,462 -7,462 Miscellaneous 658,160 455,260 105,595 491,020 385,425 Stormwater Utility 10,887,500 11,089,441 11,089,441 12,633,951 1,544,510 Gas System 1,878,630 1,878,630 1,878,630 1,878,630 Solid Waste 525,000 525,000 525,000 525,000 Utilities Miscellaneous 225,010 315,010 315,010 315,010 Sewer System 8,647,000 8,585,788 19,817,614 11,888,048 -7,929,566 Water System 4,118,100 4,040,701 10,810,938 4,906,124 -5,904,814 Recycling 245,000 245,000 245,000 24,000 TOTAL 100,005,660 96,984,790 117,645,119 120,143,321 2,498,202 Ordinance # 6845-01 EXHIBIT A (Continued) RESOURCES APPROPRIATED FOR CAPITAL PROJECTS 2000/01 First Qtr Mid Year Third Qtr Original Amended Amended Amended Budget Budget Budget Budget 2000/01 2000/01 2000/01 2000/01 Amendments GENERAL SOURCES: General Operating Revenue 1,161,000 747,693 724,043 1,900,098 1,176,055 General Revenue/County Co-op 175,010 175,010 175,010 175,010 Special Development Fund 300,000 249,458 249,458 249,458 Community Redevelopment Agency 0 181,881 181,881 181,881 Downtown Development Board 0 0 0 10,000 10,000 Road Millage 1,710,890 1,645,515 1,645,515 1,645,515 Open Space Impact Fees 0 1,842 1,842 40,404 38,563 Recreation Faciliity Impact Fees 0 98,908 98,908 98,908 Recreation Land Impact Fees 0 0 0 30,462 30,462 Transportation Impact Fees 400,000 400,000 400,000 400,000 Pennies 63,321,560 59,494,076 59,643,931 30,533,793 -29,110,138 Penny for Pinellas Bond 0 0 0 37,360,138 37,360,138 Development Impact Fees 380,000 355,287 355,287 355,287 Local Option Gas Tax 300,000 300,000 300,000 300,000 Grants - Other Agencles 800,000 737,500 2,280,000 3,321,500 1,041,500 Interest 0 -25,496 -25,496 -14,563 10,933 Donations 0 7,270 7,270 7,270 City of Safety Harbor 0 0 1,721,363 1,721,363 FI Dept of Envir Protection Grants 0 242,000 242,000 446,360 204,360 Florida State -Other Grants 0 496,676 671,676 1,741,779 1,070,103 Pinellas County 0 0 0 5,091,276 5,091,276 Insurance Reimbursement 0 2,772 2,772 2,772 SELF SUPPORTING FU14DS: Marine/Aviation Revenue 200,000 599,321 738,321 440,310 -298,011 Parking Revenue 225,000 225,000 225,000 225,000 Water Revenue 660,670 660,670 985,670 -4,916,524 -5,902,194 Sewer Revenue 973,670 973,670 506,979 -11,434,584 -11,941,564 Reclaimed Water 0 0 ' 0 -360,000 -360,000 Water Impact Fees 110,000 110,000 110,000 341,000 231,000 Water R & R 1,300,000 1,300,000 1,800,000 -533,000 -2,333,000 Sewer R & R 825,000 825,000 2,350,000 274,155 -2,075,845 Sewer Impact Fees 100,000 100,000 100,000 100,000 Gas Revenue 1,878,630 1,881,585 1,881,585 1,931,585 50,000 Solid Waste Revenue 525,000 525,000 525,000 525,000 Stormwater Utility 665,420 665,420 665,420 665,420 Recycling Revenue 245,000 245,000 245,000 245,000 Grant - Reclaimed Water 1,017,800 1,017,800 1,017,800 1,017,800 INTERNAL SERVICE FUNDS: Admin Services Fund 96,560 215,794 215,794 323,126 107,332 Central Insurance Fund 76,650 76,650 2,771,650 2,647,025 -124,625 General Services Fund 0 227 227 227 BORROWING - GENERAL SOURCES: Lease Purchase 832,750 848,957 532,597 330,372 -202,224 Interfund Loan 300,000 300,000 300,000 300,000 Ordinance # 6845-01 W0 EXHIBIT A (Continued) RESOURCES APPROPRIATED FOR CAPITAL PROJECTS 2000/01 First (qtr Mid Year Third Qtr Original Amended Amended Amended Budget Budget Budget Budget 2000/01 2000/01 2000/01 2000/01 Amendments SELF-SUPPORTING FUNDS: Lease Purchase -Sewer 31,000 31,000 530,400 530,400 Lease Purchase -Water 31,000 17,239 71,639 71,639 Lease Purchase - Stormwater Utility 228,000 228,000 228,000 154,439 -73,561 Bond Issue - Stormwater 10,060,750 10,060,750 10,060,750 10,060,750 Bond Issue - Water S Sewer 7,979,300 7,979,300 20,280,391 28,779,014 8,498,623 INTERNAL SERVICE FUNDS: Garage Lease/Purchase 2,885,000 2,885,000 2,728,603 2,728,603 Admin Svcs Lease/Purchase 210,000 103,016 103,016 102,035 -981 TOTAL ALL FUNDING SOURCES: 100,005,660 96,984,790 117,649,301 120,147,504 2,498,202 Ordinance # 6845.01 CA 6 2nd Reading ORDINANCE NO. 6853-01 AN ORDINANCE OF THE CITY OF CLEARWATER, FLORIDA RELATING TO REGISTRATION OF TELECOMMUNICATIONS COMPANIES; AMENDING SECTION 32.032 OF CHAPTER 32, CODE OF ORDINANCES; CREATING A NEW SECTION 32.042; PROVIDING A REQUIREMENT FOR REGISTRATION; PROVIDING A PROCEDURE FOR REGISTRATION; PROVIDING FOR SUSPENSION OF PERMITS; PROVIDING FOR APPEALS; PROVIDING FOR INSURANCE AND INDEMNIFICATION; PROVIDING AN EFFECTIVE DATE. WHEREAS, The Telecommunication Act of, 1996, Chapter 47 U.S.C. §253(c) preempted much of the municipalities control over its rights-of-way but retained in the cities' authority to manage their rights-of-way; and WHEREAS, Section 337.401, Florida Statutes, provides that local governments are authorized to prescribe and enforce reasonable rules and regulations with reference to the placing and maintaining of utilities along, across, on, over, or under, any rights-of-way and may grant to a resident or corporation organized or licensed in the state of Florida the use of the rights-of-way in accordance with said rules and regulations; and WHEREAS, in accordance with the intent of the Telecommunications Act and the Communications Services Tax Simplification Laws as amended by Chapter 2001-140, Laws of Florida, and in furtherance of its home rule powers, the City of Clearwater, Florida (City) desires to place certain reasonable rules and regulations on the use of the rights-of-way by Utilities; and WHEREAS, deregulation of telecommunications companies has led to multiple requests for the use of the City's Rights-of-way, and prior to deregulation there was a monopoly on telecommunications service; and WHEREAS, home rule power under the Florida Constitution and Chapter 166, Florida Statutes, empower the City to manage use of its rights-of-way; and NOW, THEREFORE, BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF CLEARWATER, FLORIDA, that: Section 1. Section 32.032 of Chapter 32, Code of Ordinances is amended to read: The City Commission may by ordinance grant permission to any person to construct and operate a public utility, except as of January 1, Ordinance No. 6853-01 I ? W MI 01 =Ng 2001 a telecommunications company defined in § 364.02(12), Florida Statutes as amended from time to time or unless and until judicially or legislatively determined to the contrary, in the streets and public grounds of the city, but no such grant or renewal thereof shall be made in violation of any of the limitations contained in this article. Telecommunications companies are required to register with the City pursuant to Section 32.042. Section 2. A new Section 32.042 of Chapter 32, Code of Ordinances is created to read: Sec. 32.042. Registration of Telecommunications Companies. (1) Registration is required for construction, installation, maintenance, repair, or location in rights-of-way (a) A telecommunications company that desires to construct, install, maintain, repair, expand, or locate any permanent or temporary facilities in, under, over, on or across any rights- of-way in the City shall first register with the City in accordance with the terms of this section. When a telecommunications company occupies or uses the rights-of- way in any manner except to construct, install, maintain, repair, expand, or locate a permanent or temporary facility, the provisions of this section do not apply and the telecommunications company may be subject to other Ordinances regulating the occupation or use of the rights-of- way. A telecommunications company, which does not have a physical presence in the rights-of-way, is not required to register under the provisions of this section. (b) This registration pertains only to the placement of telecommunication facilities in the rights-of-way; if a registrant seeks to enter the rights-of-way of the City for any other purpose, further approval of the City may be required. Registration does not excuse a telecommunications company from complying with all applicable City ordinances, including this Section. (2) The registration procedures are as follows: (a) Registration. A telecornmunications company desiring to construct, install, maintain, repair, expand, remove or locate facilities in, on, over, under, on and across the designated rights-of-way shall file a registration with the City, which shall including the following information: 2 Ordinance No. 6853-01 1. name of the applicant; 2. name, address and telephone number of applicant's primary contact person in connection with the Registration; 3. evidence of insurance coverage required under this section; 4. The number of the registrant's current certificate of authorization issued by the Florida Public Service Commission or the Federal Communications Commission. (b) Review by the City. The City will review the information submitted by the applicant. Such review will be by the City Manager or his or her designee. If the applicant submits information in accordance with Section 32.042(2)(a) above, the registration shall be effective and the City shall notify the applicant of the effectiveness of the registration in writing. If the City determines that the information has not been submitted in accordance with Section 32.042(2)(a) above, the City shall notify the applicant of any apparent errors of the non-effectiveness of registration, and reasons for non- effectiveness, in writing. The City shall so reply to an applicant within thirty (30) days after receipt of registration information from the applicant. (c) Cancellation of Registration. A registrant may cancel a registration upon sixty (60) days written notice to the City noticing that it will no longer own, use, or maintain facilities in the rights-of-way and will no longer need to obtain permits to perform work in the rights-of-way. A registrant may not cancel a registration if the registrant continues to place, maintain, or own or use any telecommunications facilities in the rights-of-way. (d) No Priority in Registration. Registration does not establish any priority for the use of the rights-of-way by a registrant or any other registrants. (e) Renewal of Registration. All registrants shall renew their. registration with the City no later than January 1 every two (2) years. Registrants shall notify the City within thirty (30) days of any change in registration information. Registrations are expressly subject to any future amendment to or 3 Ordinance No. 6853-01 10 replacement of this Section and further subject to any additional City ordinances, as well as any State or Federal laws that may be enacted during the term of the registration. If the City finds that non-renewal of registration was a good faith error on the part of the telecommunications company, the only penalty for non-registration shall be the non- issuance or revocation of permits to work in the rights-of- way; otherwise Code of Ordinances Section 1.12 shall apply. (f) Permit. In accordance with applicable City codes and ordinances, a permit may be required of a telecommunications company that desires to erect, construct, install, maintain, place, repair, extend, expand, remove, or locate permanent or temporary facilities in the rig hts-of-way. (g) Transfer. If the registrant transfers or assigns its registration incident to sale or other transfer of any of the registrant's facilities located within the rights-of-way within the City, the transferee or assignee shall comply with the terms of this section as of the effective date of the transfer or assignment. No later than twenty (20) days after the effective date of the transfer or assignment, the transferee or assignee shall register in accordance with Section 32.042(2) of this section. (h) Existing facilities. Facilities constructed, maintained, repaired, or located by telecommunications companies prior to the effective date of this section may remain in the rights- of-way, provided the telecommunications company complies with the registration provisions of this section. Providers with existing facilities in the rights-of-way have thirty (30) days from the effective date of this section to comply with the terms of this ordinance, or be in violation thereof. (3) Final, written decisions of the City Manager denying an application for registration or denying an application for renewal of a registration are subject to appeal. An appeal must be filed with the City Manager within thirty (30) days of the date of the final, written decision to be appealed. Any appeal not timely filed as set forth above shall be waived. The City Commission shall hear the appeal and may affirm or reverse the decision of the City Manager. (4) A registrant shall maintain in full force and effect general liability insurance acceptable to the City, which specifically covers all exposures incident to the intent and responsibilities under this section. The registrant shall add and maintain the City as an 4 Ordinance No. 6853-01 Wy additional insured on its general liability insurance. The document shall indicate that the City, a political subdivision of the State of Florida, is an additional insured as its interests may appear; and shall also provide that insurance shall not be canceled, limited, or non-renewed until after thirty (30) days' written notice has been received by the City; however, insurance may be canceled and replaced with a policy that continues to meet the requirements of this section. Registrant may satisfy the insurance requirements and conditions of this article under a self-insurance plan. Registrant shall agree to notify the City, or indicate on the Certificate of Insurance, whether self-insurance is relied upon when a self-insured retention or deductible exceeds $100,000. If a telecommunications service provider is self-insured, in order to assure that the insurance requirements are being met, the City reserves the right, but not the obligation, to request and review a copy of the registrant's most recent annual report or audited financial statements. (5) The following. indemnification applies: (a) In matters related to any actions or activities of the telecommunications service provider arising under this section, telecommunications service provider shall, at its sole cost and expense, fully indemnify, defend and hold harmless the City, its officers, boards, commissions, charter officials, employees, agents, and volunteers against any and all claims, suits, actions, proceedings, liabilities, and judgments for damages (including, but not limited to, expenses for reasonable legal fees and disbursements and liabilities assumed by the City in connection therewith) or equitable relief regardless of whether the act or omission complained of is authorized, allowed or prohibited by this ordinance. The telecommunications service provider's indemnification of the City shall include, but not be limited to all claims, suits, actions, proceedings, liabilities, and judgments for damages arising out of the following: (1) To persons or property, in any way arising out of or through the acts or omissions of the telecommunications service provider, its officers, agents, employees, servants, contractors, subcontractors, consultants or volunteers or to which the telecommunications service provider's negligence shall in anyway contribute; and 5 Ordinance No. 6853-01 00 (2) Arising out of any claim of invasion of the right of privacy, for defamation of any person, firm or corporation, or the violation or infringement of any copyright, trademark, trade name, service name, patent, or of any other right of any person, firm or corporation; and (3) Arising out of the telecommunications service provider's failure to comply with the provisions of any federal, state or local statute, ordinance or regulation applicable to the telecommunications service provider in the conduct of its business under this section; and (b) The City shall be responsible for its own negligence, including that of its elected officials, charter officials, officers, and/or employees resulting from activities arising from its sole responsibilities under this section, but only to the extent provided by the waiver of sovereign immunity in section 768- 28 F.S. (c) The telecommunications service provider shall have the duty to defend the City in any action to which the City is a part which fails to allege specific actions by the City resulting from its activities under this section, whether or not the same claims damages for which the City is immune under Federal or State law, including, but not limited to, Florida Statute §768.28. (d) The City shall give the telecommunications service provider prompt notice of the making of any claim or the commencement of any action, suit, or other proceeding covered by the provisions of this section. Nothing in this section shall be deemed to prevent City from cooperating with the telecommunications service provider in participating in the defense of any litigation by its own counsel at its sole cost and expense. (e). Nothing in this ordinance shall be construed to abrogate any immunity under Federal or State law, including, but not limited to, 47 U.S.C. §555a or Florida Statute §768.28. Section 3. Consistent with Section 1.14 of Chapter 1, Code of Ordinances, the sections, paragraphs, sentences, clauses and phrases of this Ordinance are severable, and if any phrase, clause, sentence, paragraph or section of this Ordinance shall be declared unconstitutional, 6 Ordinance No. 6853-01 such determination shall not affect any of the remaining phrases, clauses, sentences, paragraphs and sections of this Ordinance. Section 4. This ordinance shall take effect immediately upon adoption. PASSED ON FIRST READING September 20, 2001 PASSED ON SECOND AND FINAL READING AND ADOPTED Brian J. Aungst Mayor-Commissioner Approved as to form: Attest: Je Hayman Cynthia E. Goudeau ssistant City Attorney . City Clerk 7 Ordinance No. 6853-01 Cl? 7 2nd Reading ORDINANCE NO. 6856-01 AN ORDINANCE OF THE CITY OF CLEARWATER, FLORIDA, AMENDING APPENDIX A, SCHEDULE OF FEES, RATES AND CHARGES RELATING TO APPLICATION FEES FOR RIGHT-OF-WAY PERMITS; PROVIDING AN EFFECTIVE DATE. WHEREAS, home rule power, under the Florida Constitution and Chapter 166, Florida Statutes, empowers the City to control use of its rights-of-way; and WHEREAS, in order to recover costs associated with the processing of right-of-way permit applications, the City charges a permit application fee; and WHEREAS, the City recently adopted Code of Ordinance revisions creating an Annual General Permit for utility work in rights-of-way; and WHEREAS, pursuant to the Communications Seniices Tax Simplification Law, Laws of Florida No. 2001- 140, the City has elected not to charge right-of- way permit application fees to telecommunications companies; NOW, THEREFORE, BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF CLEARWATER, FLORIDA, that: Section 1. Appendix A, Schedule of Fees, Rates and Charges, Code of Ordinances, is amended to read: APPENDIX A - SCHEDULE OF FEES, RATES AND CHARGES XIX. STREETS, SIDEWALKS, OTHER PUBLIC PLACES: (3) Right-of-way permit (a) Single family residence/duplex ............................... $ 25.00 (b) Multi-family/Commercial ....................................... $125.00 (c) Sidewalk (construction of new or replacement sidewalk) ........................................................... $ 50.00 i5 Ordinance #6856-01 iW (d) Subdivision development permit (construction of a new subdivision and/or construction of new streets (private or public with accompanying street s utilitie6 utility connections such as a sanitary sewer, water, storm drainage systems) ........................................................... $200.00 Plus per gross acre ............................................. $ 50.00 (e) Utilities: Reclaimed water connection fee ............................ None Utility connection or Construction ............................................$100.00 $150.00 No pavement cut; fee per each utility involved and per each connection. P441AG-uti ity GGRRes erg Utility connection or Construction ..................................................... $200.00 Pavement cut; fee per each utility involved and per each connection. Annual General Permit ...................................:..... $400.00 Providers of communications services .................... None (f) Miscellaneous permit (work requiring engineering inspection in an easement or for other miscellaneous work) ............................................................... $ 50.00 (g) Failure to obtain r.o.w. permit before starting work.... Double Fee 2 Ordinance #6856-01 Section 2. This ordinance shall take effect immediately upon adoption. PASSED ON FIRST READING September 20, 2001 PASSED ON SECOND AND FINAL _ READING AND ADOPTED Approved as to form: V Jane Hayman Assistant City Attorney Brian J. Aungst Mayor-Commissioner Attest: Cynthia E. Goudeau City Clerk 3 Ordinance #6856-01 2nd Reading ORDNANCE NO. 6876-01 AN ORDINANCE OF THE CITY OF CLEARWATER, FLORIDA, AUTHORIZING IMPROVEMENT REVENUE BONDS, SERIES [TO BE DETERMINED] TO FINANCE OR REFINANCE THE COST OF DESIGN, ACQUISITION, CONSTRUCTION, RECONSTRUCTION OR REFUNDING OF CERTAIN IMPROVEMENTS WITHIN THE CITY OF CLEARWATER, PLEDGING THE REVENUES OF THE PUBLIC SERVICE TAX REVENUES FOR THE PAYMENT OF THE DEBT SERVICE ON THE BONDS; PROVIDING FOR THE RIGHTS OF THE HOLDERS OF SUCH BONDS; MAKING CERTAIN OTHER COVENANTS AND AGREEMENTS IN CONNECTION THEREWITH; PROVIDING CER'T'AIN OTHER MATTERS IN CONNECTION THEREWITH; AND PROVIDING AN EFFECTIVE DATE. BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF CLEARWATER, FLORIDA: SECTION 1. AUTHORITY FOR THIS ORDINANCE. This Ordinance is enacted pursuant to Chapter 166, Part II, Florida Statutes, the Charter of the City of Clearwater and other applicable provisions of law. SECTION 2. DEFINITIONS. Unless the context otherwise requires, the terms defined in this section shall have the meanings specified in this section. Words importing singular number shall include the plural number in each case and vice versa, and. words importing persons shall include firms and corporations. "Acquired Obligations" shall mean and include any of the following securities, if and to the extent the same are at the time legal for investment of funds of the Issuer and are non callable prior to their scheduled maturity date (or scheduled redemption date as permitted in paragraph (iii) below): (i) any bonds or other obligations which as to principal and interest constitute direct obligations of, or are unconditionally guaranteed by, the United States of Ameri ca, including obligations of any Federal agency or corporation which has been or may hereafter be created pursuant to an act of Congress as an agency or instrumentality of the United States of America to the extent unconditionally guaranteed by the United States of America (including but not limited to obligations of the Resolution Funding Corporation) or any other evidences of an ownership interest in obligations or in specified portions thereof (which may consist of specified portions of the interest 1 Ordinance No. 6876-01 W thereon) of the character described in this clause (i) held by a bank or trust company as custodian, under which the owner of the investment is the real party in interest and has the right to proceed directly and individually against the obligor on the obligations described in this clause (i), and which underlying obligations are not available to satisfy any claim of the custodian or any person claiming through the custodian or to whom the custodian may be obligated; and (ii) any bonds or other obligations of (a) the State of Florida or (b) any state or governmental unit thereof which are rated at such time in the then highest rating category of two or more nationally recognized municipal rating agencies; and (iii) any bonds or other obligations of any state of the united States of America orof any agency, instrumentality or local governmental unit of any such state (a) which are not callable at the option of the obligor prior to maturity or as to which irrevocable notice has been given by the obligor to call such bonds or obligations on the date specified in the notice, (b) which are fully secured as to principal and interest and redemption premium, if any, by a fund consisting only of cash or bonds or other obligations of the character described in clause (i) hereof which fund may be applied only to the payment of such principal of and interest and redemption premium, if any, on such bonds or other obligations on the maturity date or dates thereof or the specified redemption date or dates pursuant to such irrevocable instructions, as appropriate, and (c) as to which the principal of and interest on the bonds and obligations of the character described in clause (i) hereof which have been deposited in such fund along with any cash on deposit in such fund is sufficient to pay principal of and interest and redemption premium, if any, on the bonds or other obligations described in this clause (iii) on the maturity date or dates thereof or on the redemption date or dates specified in the irrevocable instructions referred to in subclause (a) of this clause (iii), as appropriate. "Additional Parity Obligations" shall mean additional obligations issued in compliance with the terms, conditions and limitations contained herein and which (i) shall have a lien on the Pledged Revenues equal to that of the Bonds, (ii) shall be payable from the Pledged Revenues on a parity with the Bonds, and (iii) rank equally in all other respects with the Bonds. "Amortization Installment" shall mean an amount designated as such by supplemental resolution of the Issuer and established with respect to any Term Bonds. "Authorized Newspapers" shall mean a financial newspaper of general circulation in the Borough of Manhattan, City and State of New York. (including, at such times as they are published, The New York Times, The Daily Bond Buyer or The Wall Street Journal). "Average Annual Bond Service Requirement" shall mean, as of the date of calculation, the total amount of Bond Service Requirement which is to become due on all Bonds deemed to be Outstanding immediately after the issuance of such series of Bonds divided by the total number of years for which Bonds are deemed to be Outstanding. "Bond Insurance Policy" shall mean the municipal bond new issue insurance policy issued by a Bond Insurer that guarantees payment of principal of and interest on the Bonds or any Additional Parity Bonds. Ordinance No. 6876-41 WV "Bond Insurer" shall mean the provider ofa Bond Insurance Policy for a Series of Bonds so designated in a supplemental resolution of the Issuer. "Bond Service Requirement" shall mean, for any Bond Year, at any time, the amount required to be deposited in such Bond Year into the Bond Service Fund, as provided herein. In calculating such amount, the Issuer shall subtract therefrom any amounts to be transferred from the Construction Fund for the purpose of paying interest on the Bonds. With respect to Variable Rate Bonds, if any, the interest rate used to calculate the Bond Service Requirement shall be assumed to be the highest variable rate borne over the preceding twenty-four (24) months by Outstanding Variable Rate Bonds issued under this Ordinance or, if no such Variable Rate Bonds are at the time Outstanding under this Ordinance, by variable rate debt for which the interest rate is computed by reference to an index comparable to that to be utilized in determining the interest rate for the debt then proposed to be issued. If Bonds are Option Bonds, the date or dates of tender shall be disregarded, unless actually tendered and not remarketed, and the stated maturity dates thereof shall be used for purposes of this calculation, if such Option Bonds are required to be paid from Pledged Revenues hereunder on such date of maturity. "Bonds" shall mean (i) the Improvement Revenue Refunding Bonds, Series 2001 herein authorized to be issued and (ii) any Additional Parity Obligations permitted to be issued hereunder from time to time in accordance with the provisions hereof. "Bond Counsel" shall mean initially Bryant, Miller and Olive, P.A. or any attorney at law or firm of attorneys of nationally recognized standing in matters pertaining to the exclusion from gross income for federal income tax purposes of interest on obligations issued by states and political subdivisions, and duly admitted to practice law before the highest court of any state of the United States of America. "Bond Service Fund" shall mean the Bond Service Fund created and established pursuant to Section 16 of this Ordinance. "Bond Year" shall mean the period commencing and ending on such dates as shall be approved by supplemental resolution of the Issuer. "Capital Appreciation Bonds" shall mean the aggregate principal amount of the Bonds that bear interest payable solely at maturity or upon redemption prior to maturity in the amounts determined by reference to the Compounded Amounts, all as shall be determined by supplemental resolution of the Issuer. In the case of Capital Appreciation Bonds that are convertible to Bonds with interest payable prior to maturity or redemption of such Bonds, such Bonds shall be considered Capital Appreciation Bonds only during the period of time prior to such conversion. "Capital Appreciation Income Bonds" shall mean those Bonds initially issued as Capital Appreciation Bonds and which become Current Interest Bonds when the original issue amount and the Compounded Amount equals $5,000 principal amount or an integral multiple thereof as determined by subsequent resolution of the Issuer. 3 Ordinance No. 6876-01 In the case of Capital Appreciation Bonds that are convertible to Bonds with interest payable prior to maturity or redemption of such Bonds, such Bonds shall be considered Capital Appreciation Bonds only during the period of time prior to such conversion. "Capital Appreciation Income Bonds" shall mean those Bonds initially issued as Capital Appreciation Bonds and which become Current Interest Bonds when the original issue amount and the Compounded Amount equals 55,000 principal amount or an integral multiple thereof as determined by subsequent resolution of the Issuer. "City Manager" shall mean the City Manager of the Issuer. "Clerk" shall mean the City Clerk of the Issuer. "Compounded Amounts" shall mean, as of any date of computation with respect to any Capital Appreciation Bond, an amount equal to the principal amount of such Capital Appreciation Bond (the principal amount at its initial offering) plus the interest accrued on such Capital Appreciation Bond from the date of delivery to the original purchasers thereof to the interest date next preceding the date of computation or the. date of computation if an interest date, such interest to accrue at the applicable rate which shall not . exceed the legal rate, compounded semiannually, plus, with respect to matters related to the payment upon redemption or acceleration of the Capital Appreciation Bonds, if such date of computation shall not be an interest date, a portion of the difference between the Compounded Amount as of the immediately preceding interest date and the Compounded Amount as of the immediately succeeding interest date, calculated based on the assumption that the Compounded Amount accrues during any semi-annual period in equal daily amounts on the basis of a 360-day year of twelve 30-day months. "Construction Fund" shall mean the Construction Fund created and established pursuant to Section 16 of this Ordinance. "Escrow Deposit Agreement' 'means that certain Escrow Deposit Agreement by and between the Issuer and a bank or trust company to be selected and named by the Issuer as determined by subsequent Resolution of the Issuer relating to a specific Series of Bonds adopted prior to the issuance of such Bonds, in such form as shall be approved by subsequent resolution ofthe Issuer adopted prior to the issuance of any series of refunding bonds. "Finance Director" shall mean the Financial Services Administrator of the Issuer or her designee. "Fiscal Year" shall mean the period commencing on October 1 of each year and ending on the next succeeding September 30 or such other annual period as may be prescribed by law from time to time for the Issuer. 4 Ordinance No. 6876-01 "Holder of Bonds" or "Bondholders" or any similar term shall mean any persons who shall be the registered owner of any outstanding Bonds. "Interest Account" shall mean the special account of the same name created within the Bond Service Fund. "Issuer" or "City" shall mean the City of Clearwater, Florida. "Maximum Bond Service Requirement" shall mean, as of any particular date of calculation, the greatest amount of Bond Service Requirement for the then current or any future Bond Year, if any. "Mayor-Commissioner" shall mean the Mayor-Commissioner or the Vice Mayor of the City Commission of the Issuer, or such other person as may be duly authorized by the Mayor-Commissioner to act on his or her behalf. . "2001 Project" shall mean the Project authorized to be financed with the proceeds of the Series 2001 Bonds to provide the City adequate funds to defease the Issuer's Florida Public Service Tax and Bridge Revenue Bonds, Series 1985 (the "Series 1985 Bonds") and Improvement Revenue Bonds, Series 1995 (the "Series 1995 Bonds") (Municipal Services/Public Safety and Policy Complex Project), a portion of the cost of which are to be paid from the proceeds of the Series 2001 Bonds. "Option Bonds" shallmean Bonds subject to tender for payment prior to their maturity at the option of the Holder thereof. "Ordinance" shall mean this ordinance as from time to time may be amended or supplemented, in accordance with the terms hereof. "Outstanding" or "Bonds Outstanding" shall mean all Bonds which have been issued pursuant to this Ordinance, except: (i) Bonds canceled after purchase in the open market or because of payment at or redemption prior to maturity; (ii) Bonds for the payment or redemption of which cash funds or Acquired Obligations or any combination thereof shall have been theretofore irrevocably set aside in a special account with an escrow agent (whether upon or prior to the maturity or redemption date of any such Bonds) in an amount which, together with earnings on such Acquired Obligations, will be sufficient to pay the principal of and interest on such Bonds at maturity or upon their earlier redemption; provided that, if such Bonds are to be redeemed before the maturity thereof, notice of such redemption shall have been given according to the requirements of this Ordinance or irrevocable instructions directing the timely publication of such notice and 5 Ordinance No. 6876-01 directing the payment of the principal of and interest on all such Bonds at such redemption dates shall have been given; and (iii) Bonds which are deemed paid pursuant to this Ordinance or in lieu of which other Bonds have been issued under Sections 11 and 13 hereof. "Paying Agent" shall mean any paying agent for Bonds appointed by or pursuant to a supplemental resolution and its successors or assigns, and any other Person which may at any time be substituted in its place pursuant to a supplemental resolution. "Permitted Investments" shall mean as follows, provided, however, that investment in Permitted Investments shall only be undertaken in accordance with the Issuer's investment policy in effect at such time or as specifically permitted by subsequent resolution of the Issuer: (1) Bonds or other obligations which as to principal and interest constitute direct obligations of, or are unconditionally guaranteed by, the United States of America, including any of the federal agencies and federally sponsored entities set forth in clause (3) hereinafter to the extent guaranteed by the United States of America. In the event these securities are used for defeasance, they shall be non-callable and non-prepayable; (2) Obligations of any of the following federal agencies or federally sponsored entities which obligations represent the full faith and credit (guaranteed obligations) of the United States of America, in the event these securities are used for defeasance, they shall be non-callable and non-prepayable, (including but not limited to) the following: a. Export-Import Bank; b. Farm Credit System Financial Assistance Corporation; C. Rural Economic Community Development Administration (formerly the Farmers Home Administration); d. General Services Administration; e. U.S. Maritime Administration; f. Small Business Administration; g. Government National Mortgage Association (GNMA); h. U.S. Department of Housing & Urban Development (PI-LA's); i. Federal Housing Administration; and j. Federal Financing Bank 6 Ordinance No. 6876-01 (3) Direct obligations of any of the following federal agencies or federally sponsored entities which are not fully guaranteed by the full faith and credit of the United States of America, in the event these securities are used for defeasance, they shall be non-callable and non-prepayable: a. Federal National Mortgage Association (FNMA); b. Federal Home Loan Mortgage Corporation (FHLMC); C. Resolution Funding Corporation (REFCOF P); d. Student Loan Marketing Association (SLMA); e. Federal Home Loan Bank Systems (FHLB); and f. Obligations of other Government Sponsored Agencies (approved by the Insurer). The following obligations may be used as Permitted Investments for all purposes other than defeasance investments in refunding escrow accounts. (4) Commercial paper which is rated at the time of purchase in the highest classification (without regard to qualifier), "A-1" by S&P and "P-1" by Moody's and which matures not more than 270 days after the date of purchase. (5) Investment agreements the provider of which is rated in one of the two highest rating categories, without regard to qualifiers, by two Rating Agencies under which the provider agrees to periodically deliver, on a delivery versus payment basis, such securities as are described in clauses (14) above. (6) Investment agreements the provider of which is rated in one of the two highest rating categories, without regard to qualifiers, by two Rating Agencies and which are continuously and fully secured by such securities as are described in clauses (1-3) above, which securities shall have a market value at all times at least equal to 102% of the principal amount invested under the investment agreement (marked to market at least weekly). (7) . The pooled investment program of the State of Florida administered by the State Board of Administration, known as the Local Government Surplus Funds Trust Fund, established pursuant to Chapter 218, Part IV, Florida Statutes, as amended. (8) Other forms of investments (including repurchase agreements) approved in writing by the Bond Insurer with notice to Standard & Poor's. "Person" shall mean an individual, a corporation, a partnership, an association, a joint stock company, a trust, any unincorporated organization or governmental entity. "Pledged Revenues" shall mean (1) the Public Service Tax and (2), except for testing the amount of Pledged Revenues in connection. with the issuance of Additional Bonds in accordance with Section 20(F) 7 Ordinance No. 6876-01 hereof, until applied in accordance with the provisions of this Ordinance, all moneys, including investments thereof, in the funds and accounts established hereunder, other than the Rebate Fund. "Principal Account" shall mean the special account of the same name created within the Bond Service Fund. "Project" or "Projects" shall mean the cost of the design., acquisition, construction or reconstruction of capital improvements within the City or the refinancing of outstanding debt obligations of the City, the proceeds of which financed such projects, all as determined by the Issuer in a subsequent resolution and in accordance with plans and specifications on file or to be filed with the Issuer. "Project Costs" shall mean all costs authorized to be paid from the Construction Fund pursuant to Section 18 hereof to the extent permitted under the laws of the State, which costs shall include the costs of issuing any series of Bonds hereunder. It is intended that this definition be broadly construed to encompass all costs, expenses and liabilities of the Issuer related to the Project or Projects in the future shall be permitted to be funded with the proceeds of any Series of Bonds pursuant to the laws of the State. "Public Service Tax" shall mean the taxes levied and collected within the area of the Issuer on the . purchases of utilities services pursuant to Section 166.231, Florida Statutes, and Article III, Public Service Tax, of Chapter 44 of the Code of Ordinances, City of Clearwater and after October 1, 2001, shall also mean the Issuer's portion of the Communication Services Tax levied in accordance with Chapter 2000-26- , Laws of Florida, which replaced local government's public service taxes on telecommunication services. "Rebate Fund" shall mean the Rebate Fund created pursuant to Section 29 of this Ordinance. "Redemption Account" shall mean the special account of the same name created within the Bond Service Fund. "Refunding Bonds" shall mean that amount of any Series of Bonds, the proceeds of which will be applied to the refunding of any previously issued Bonds. "Registrar" shall mean any registrar for the Bonds appointed by or pursuant to supplemental resolution and its successors and assigns, and any other Person which may at any time be substituted in its place pursuant to supplemental resolution. "Reserve Fund" shall mean the Reserve Fund created and established pursuant to Section 16 of this Ordinance. "Reserve Requirement" shall be such amount, if any, as detemnined by subsequent Resolution of the Issuer relating to a specific Series of Bonds adopted prior to the issuance of such Bonds, which may 8 Ordinance No. 6876-01 not exceed the lesser of (i) the Maximum Bond Service Requirement, (ii) 125% of the Average Annual Bond Service Requirement or (iii) the largest amount as shall not adversely affect the exclusion of interest on the Bonds from gross income for Federal income tax purposes. "Revenue Fund" shall mean the Revenue Fund created and established pursuant to Section 16 of this Ordinance. "Serial Bonds" shall mean all of the Bonds other than Term Bonds, as shall be determined by supplemental resolution of the Issuer. "Series" or "Series of Bonds" or "Bonds of a Series" shall mean all Bonds designated as being of the same Series issued and delivered on original issuance in a simultaneous transaction, and any Bonds thereafter delivered in lieu thereof or in substitution therefor pursuant to this Ordinance. "Series 1985 Bonds" shall mean the City of Clearwater, Florida Public Service Tax and Bridge Revenue Bonds, Series 1985. "Series 1995 Bonds" shall mean the City of Clearwater, Florida, Improvement Revenue Bonds, Series 1995. "Series 2001 Bonds" shall mean the initial Series of Bonds under this Ordinance as provided for in Section 6 thereof. "State" shall mean the State of Florida. "Subordinated Debt Service Fund" shall mean the Subordinated Debt Service Fund created and established pursuant to Section 16 hereof. "Subordinated Indebtedness" shall mean indebtedness of the Issuer, subordinate and junior to the Bonds, which is payable from the Subordinated Debt Service Fund created pursuant to Section 16 hereof. "Term Bonds" shall mean the Bonds of a series, all of which shall be stated to mature on one date, but which amortize a portion of the principal thereof prior to the maturity date through mandatory redemption, as shall be determined by supplemental resolution of the Issuer. "Variable Rate Bonds" shall mean obligations issued with a variable, adjustable, convertible or other similar rate which is not fixed in percentage at the date of issue for the entire term thereof as shall be determined by supplemental resolution of the Issuer. 9 Ordinance No. 6876-01 The terms "herein," "hereunder," "hereby," "hereto," "hereof' and any similar terms shall refer to this Ordinance; the term "heretofore" shall mean before the date of adoption of this Ordinance; and the term "hereafter" shall mean after the date of adoption of this Ordinance. Words importing the masculine gender include every other gender. Words importing the singular number include the plural number, and vice versa. SECTION 3. FINDINGS. It is hereby ascertained, determined and declared that: (A) It is in the best interest of the Issuer that the Issuer authorize the issuance of the Series 2001 Bonds to provide the City adequate funds to refund, and thereby defease the Series 1985 Bonds and the Series 1995 Bonds in fill to fund a debt service reserve fund, and to pay the costs of issuance of the Bonds, including the premium for a municipal bond insurance policy, if any, and the premium for a debt service reserve fund policy, if any. (B) Such Bonds shall be payable solely from the Pledged Revenues. (C) Any Series of Bonds, after the issuance of the Series 2001 Bonds, and the Projects to be funded with the proceeds of such Series of Bonds, shall be issued and such Projects shall be undertaken upon approval by supplemental resolution of the Issuer as provided by law. The proceeds of any Series of Bonds shall be applied as provided in a supplemental ordinance or resolution. (D) The principal of and interest and redemption premium on the Bonds and all reserve and other payments shall be payable solely from the Pledged Revenues. The Issuer shall never be required to levy ad valorem taxes on any real or personal property therein to pay the principal of and interest on the Bonds herein authorized or to make any other payments provided for herein. The Bonds shall not constitute alien upon any properties owned by or located within the boundaries of the Issuer or upon any property other than the Pledged Revenues. (E) The Pledged Revenues should be sufficient to pay all principal of and interest and redemption premium on the Bonds to be issued hereunder, as the same become due, and to make all required deposits or payments required by this Ordinance. SECTION 4. THIS ORDINANCE TO CONSTITUTE CONTRACT. In consideration of the acceptance of the Bonds authorized to be issued hereunder by those who shall hold the same from time to time, this Ordinance shall be deemed to be and shall constitute a contract between the Issuer and such Holders. The covenants and agreements herein set forth to be performed by the Issuer shall be for the equal tx-nefit, protection and security of the legal Holders of any and all of the Bonds, all of which shall be of equal rank and without preference, priority or distinction of any of the Bonds over any other thereof, except as expressly provided therein and herein. 10 Ordinance No. 6876-01 SECTION 5. AUTHORIZATION OF BONDS. Subject and pursuant to the provisions hereof and as shall be described in subsequent resolutions of the Issuer to be adopted prior to the issuance of any series of Bonds, obligations of the Issuer to.be known as "Improvement Revenue [Refunding] Bonds, Series [to be determined]" are authorized to be issued in one or more series (including Additional Parity Obligations) from time to time. There is expressly authorized to be issued an initial Series of Bonds to be called the "Improvement Revenue Refunding Bonds, Series 2001 ", the proceeds of which will used to refund the Series 1985 Bonds and the Series 1995 Bonds and fund the costs of the 2001 Bonds. The aggregate principal amount of the Bonds which may be executed and delivered under this Ordinance is not limited except as is or may hereafter be provided in Section 20(F) of this Ordinance or as limited by the Act or by law. SECTION 6. AUTHORIZATION OF SERIES 2001 BONDS. There is hereby authorized to be issued the City's Improvement Revenue Refunding Bonds, Series 2001 (the "Bonds"), in the principal amount necessary to provide the City adequate funds to defease the Series 1985 Bonds and the Series 1995 Bonds in full, to fund the debt service reserve fund and to pay the costs of issuance of the Bonds, including the premium for a municipal bond insurance policy, if any, and the premium for debt service reserve fund policy, if any. SECTION 7. DESCRIPTION OF BONDS. The Bonds shall be issued in fully registered form; may be Capital Appreciation Bonds, Capital Appreciation Income Bonds, Variable Rate Bonds, Serial Bonds or Term Bonds; shall be dated; shall be numbered consecutively from one upward in order of maturity preceded by the letter "R"; shall be in the denomination of 55,000 each, or integral multiples thereof for the Serial Bonds and in $5,000 maturity amounts for the Capital Appreciation Bonds or in $5,000 multiples thereof, or such other denominations as shall be approved by the Issuer in a supplemental resolution prior to the delivery of the Bonds; shall have a Paying Agent and Registrar designated by the Issuer in a supplemental resolution of the Issuer adopted prior to the issuance of the applicable Series of Bonds; shall bear interest at such rate or rates not exceeding the maximum rate allowed by State law, the actual rate or rates to be approved by the goveming body of the Issuer prior to or upon the sale of the Bonds; such interest to be payable semiannually at such times as are fixed by supplemental resolution of the Issuer if other than Capital Appreciation Bonds and shall mature annually on such date in such years (not exceeding 30 years from the date of issuance) and such amounts as will be fixed by supplemental resolution of the Issuer prior to or upon the sale of the Bonds; and may be issued with variable, adjustable, convertible or other rates with original issue discounts and as Capital Appreciation Bonds; all as the Issuer shall provide herein or hereafter by supplemental resolution. Each Series of Bonds (except any Capital Appreciation Bonds) shall bear interest from the interest payment date next preceding the date on which it is authenticated, unless authenticated on an interest payment date, in which case it shall bear interest from such interest payment date, or, unless authenticated prior to the first interest payment date, in which case it shall bear interest from its date; provided, however, that if at the time of authentication payment of any interest which is due and payable has not been made, such Serial Bond shall bear interest from the date to which interest shall have been paid. 11 Ordinance No. 6876-01 The Capital Appreciation Bonds shall bear interest only at maturity or upon redemption prior to maturity in the amount determined by reference to the Compounded Amount. The principal of and the interest redemption premium, if any, on the Bonds shall be payable in any coin or currency of the United States of America which on the respective dates of payment thereof is legal tender for the payment of public and private debts. The interest on the Bonds shall be payable by the Paying Agent on each interest payment date to the person appearing on the registration books of the Issuer hereinafter provided for as the registered bolder thereof, by check or draft mailed to such registered Holder at his address as it appears on such registration books or by wire transfer to Holders of S 1,000,000 or more in principal amount of the Bonds. Payment of the principal of all Bonds except Capital Appreciation Bonds, and the Compounded Amount with respect to the Capital Appreciation Bonds, shall be made upon the presentation and surrender of such Bonds as the same shall become due and payable. Notwithstanding any other provisions of this section, the Issuer may. at its option, prior to the date of issuance of any Series of Bonds, elect to use an immobilization system or pure book-entry system with respect to issuance of such Series of Bonds, provided adequate records will be kept with respect to the ownership of such Series of Bonds issued in book-entry form or the beneficial ownership of bonds issued in the name of a nominee. As Iona as any Bonds are outstanding in book-entry form the provisions of this Ordinance inconsistent with such system of book-entry registration shall not be applicable to such Bonds. The details of any alternative system of issuance, as described in this paragraph, shall be set forth in a resolution of the Issuer duly adopted at or prior to the sale of such Series of Bonds. SECTION 8. EXECUTION OF BONDS. The Bonds shall be signed by, or bear the facsimile signatures of the Mayor-Commissioner and City Manager of the Issuer and shall be attested by, or bear the facsimile signature of, the Clerk, and shall be approved as to form and legal sufficiency by the City Attorney and a facsimile of the official seal of the Issuer shall be imprinted on the Bonds. In case any officer whose signature or a facsimile of whose signature shall appear on any Bonds shall cease to be such officer before the delivery of such Bonds, such signature or such facsimile shall nevertheless be valid and sufficient for all purposes the same as if he has remained in office until such delivery. Any Bond may bear the facsimile signature of or may be signed by such persons who, at the actual time of the execution of such Bond, shall be the proper officers to sign such Bonds although, at the date of such Bond, such persons may not have been such officers. The validation certificate endorsed on the Bonds shall be executed by the Mayor-Commissioner by his manual or facsimile signature. SECTION 9. AUTHENTICATION OF BONDS. Only such of the Bonds as shall have endorsed'thereon a certificate of authentication substantially in the form hereinbelow set forth, duly executed by the Registrar, as authenticating agent, shall be entitled to any benefit or security under this Ordinance. No Bond shall be valid or obligatory for any purpose unless and until such certificate of authentication shall have been duly executed by the Registrar, and such certificate of the Registrar upon any such Bond shall be conclusive evidence that such Bond has been duly authenticated and delivered under 12 Ordinance No. 6876-01 this Ordinance. The Registrars certificate of authentication on any Bond shall be deemed to have been duly executed if signed by an authorized officer of the Registrar, but it shall not be necessary that the same officer sign the certificate of authentication. of all of the Bonds that may be issued hereunder at any one time. SECTION ' 10. EXCHANGE OF BONDS. Any Bonds, upon surrender thereof at the principal corporate trust office of the Registrar, together with an assignment duly executed by the Bondholder or his attorney or legal representative in such form as shall be satisfactory to the Registrar, may, at the option of the Bondholder, be exchanged for an aggregate principal amount of Bonds equal to the principal amount of the Bond or Bonds so surrendered. The Registrar shall make provision for the exchange of Bonds at the principal corporate trust office of the Registrar. SECTION 11. NEGOTIABILITY, REGISTRATION AND TRANSFER OF BONDS. The Registrar shall keep books for the registration of and for the registration of transfers of Bonds as provided in this Ordinance. The transfer of any Bonds may be registered only upon such books and only upon surrender thereof to the Registrar together with an assignment duly executed by the Bondholder or his attorney or legal representative in such form as shall be satisfactory to the Registrar. Upon any such registration of transfer, the Issuer shall execute and the Registrar shall authenticate and deliver in exchange for such Bond, a new Bond or Bonds registered in the name of the transferee, and in an aggregate principal amount equal to the principal amount of such Bond or Bonds so surrendered. In all cases in which Bonds shall be exchanged, the Issuer shall execute and the Registrar shall authenticate and deliver, at the earliest practicable time, a new Bond or Bonds of the same type (e.g., Serial Bonds will be exchanged for Serial Bonds and Capital Appreciation Bonds will be exchanged for Capital Appreciation Bonds) in accordance with the provisions of this Ordinance. All Bonds surrendered in any such exchange or registration of transfer shall forthwith be canceled by the Registrar. The Issuer or the Registrar may make a charge for every such exchange or registration of transfer of Bonds sufficient to reimburse it for any tax or other governmental charge required to be paid with respect to such exchange or registration of transfer, but no other charge shall be made to any Bondholder for the privilege of exchanging or registering the transfer of Bonds under the provisions of this Ordinance. SECTION 12. OWNERSHIP OF BONDS. The person in whose name any Bond shall be registered shall be deemed and regarded as &,.e absolute owner thereof for all purposes, and payment of or on account of the principal or redemption price of any such Bond, and the interest on any such Bonds shall be made only to or upon the order of the registered owner thereof or his legal representative. All such payments shall be valid and effectual to satisfy and discharge the liability upon such Bond including the premium, if any, and interest thereon to the extent of the sum or sums so paid. SECTION 13. BONDS MUTILATED, DESTROYED, STOLEN OR LOST. In 13 Ordinance No. 6876-01 case any Bond shall become mutilated, or be destroyed, stolen or lost, the Issuer may in its discretion cause to be executed, and the Registrar shall authenticate and deliver, a new Bond of like date and tenor as the Bond so mutilated, destroyed, stolen or lost (e.g., Serial Bonds shall be issued in exchange for Serial Bonds and Capital Appreciation Bonds shall be issued in exchange for Capital Appreciation Bonds) in exchange and substitution for such mutilated Bond upon surrender and cancellation of such mutilated Bond or in lieu of and substitution for the Bond destroyed, stolen or lost, and upon the Holder furnishing the Issuer and the Registrar proof of his ownership thereof and satisfactory indemnity and complying with such other rea- sonable regulations and conditions as the Issuer and the Registrar may prescribe and paying such expenses as the Issuer and the Registrar may incur. All Bonds so surrendered shall be. canceled by the Issuer. If any of the Bonds shall have matured or be about to mature, instead of issuing a substitute Bond, the Issuer may pay the same, upon being indemnified as aforesaid, and if such Bond be lost, stolen or destroyed, without surrender thereof. Any such duplicate Bonds issued pursuant to this Section shall constitute original, additional contractual obligations on the part of the Issuer whether or not the lost, stolen or destroyed Bonds be at any time found by anyone, and such duplicate Bonds shall be entitled to equal an d proportionate benefits and rights as to lien on and source and security for payment from the funds, as hereinafter pledged, to the same extent as all other Bonds issued hereunder. SECTION 14. PROVISIONS FOR REDEMPTION. The Bonds shall be subject to redemption prior to their maturity, at the option of the Issuer, at such times and in such manner as shall be fixed by supplemental resolution of the Issuer prior to or at the time of sale of the Bonds. Notice of such redemption shall, at least thirty (30) days prior to the redemption date, be filed with the Registrar, and mailed, first class mail, postage prepaid, to all Holders of Bonds to be redeemed at their addresses as they appear on the registration books hereinbefore provided for, but failure to mail such notice to one or more Holders of Bonds shall not affect the validity of the proceedings for such redemption with respect to Holders of Bonds to which notice was duly mailed hereunder. Each such notice shall set forth the date fixed for redemption, the redemption price to be paid and, if less than all of the Bonds of one maturity are to be called, the distinctive numbers of such Bonds to be redeemed and in the case of Bonds to be redeemed in part only, the portion of the principal amount thereof to be redeemed. Any notice of optional redemption, other than with respect to a refunding, shall be circulated only if sufficient fiends have been deposited in the Bond Service Fund to pay the redemption price of the Series of Bonds to be redeemed. Official notice of redemption having been given as aforesaid, the Bonds or portions of Bonds to be redeemed shall, on the redemption date, become due and payable at the Redemption Price therein specified, and from and after such date (unless the Issuer shall default in the payment of the redemption price) such Bonds or portions of Bonds shall cease to bear interest. Upon surrender of such Bonds for redemption in accordance with said notice, such Bonds shall be paid by the Registrar at the redemption 14 Ordinance No. 6876-01 price. Each check or other transfer of funds issued by the Registrar for the purpose of the payment of the redemption price of Bonds being redeemed shall bear the CUSIP number identifying, by issue and maturity, the Bonds being redeemed with the proceeds of such check or other transfer. Installments of interest due on or prior to the redemption date shall be payable as herein provided for payment of interest. Upon surrender for any partial redemption of any Bond, there shall.be prepared for the Holder a new Bond or Bonds of the same maturity in the amount of the unpaid principal of such partially redeemed Bond. All Bonds which have been redeemed shall be canceled and destroyed by the Registrar and shall not be reissued. In addition to the foregoing notice, finther notice may, but shall not be required to be given by the Issuer as set out below, but no defect in said further notice nor any failure to give all or any portion of such further notice shall in any manner defeat the effectiveness ofa call for redemption if notice thereof is given as above prescribed. (1) Each further notice of redemption given hereunder shall contain the infbrmation required above for an official notice of redemption plus (i) the CUSIP numbers of all Bonds being redeemed; (ii) the date of issue of the Bonds as originally issued; (iii) the rate of interest bome by each Bond being redeemed; (iv) the maturity date of each Bond being redeemed; and (v) any other descriptive information needed to identify accurately the Bonds being redeemed. (2) Each further notice of redemption shall be sent at least 35 days before the redemption date by registered or certified mail or overnight delivery service to all registered securities depositories then in the business of holding substantial amounts of obligations of types similar to the type of which the Bonds consist (such depositories now being Depository Trust Company of New York, New York, Midwest Securities Trust Company of Chicago, Illinois, Pacific Securities Depository Trust Company of San Francisco, California, and Philadelphia Depository Trust Company of Philadelphia, Pennsylvania) and to one or more national information services that disseminates notices of redemption of obligations such as the Bonds. SECTION 15. FORTWOF BONDS. The text of the Bonds, together with the certificate of authentication to be endorsed therein, shall be in substantially the following form, with such omissions, insertions and variations as may be necessary, desirable, authorized or permitted by this Ordinance or by any supplemental resolution adopted prior to the issuance thereof, or as may be necessary if the Bonds or a portion thereof are issued as Capital Appreciation Bonds, Option Bonds, Variable Rate Bonds, or as may be necessary to comply with applicable laws, rules and regulations of the United States and of the State in effect upon the issuance thereof. The text of any Series of Bonds, other than the Bonds shall be as determined by supplemental ordinance or resolution of the Issuer. 15 Ordinance No. 6876-01 [FOPJv1 OF BOND] No. R- S UNITED STATES OF AMERICA STATE OF FLORIDA COUNTY OF PINELLAS CITY OF CLEARWATER IMPROVEMENT REVENUE [REFUNDING] BONDS, SERIES [TO BE DETERMINED] MATURITY DATE: INTEREST RATE: DATED DATE: CUSIP: Registered Owner: Principal Amount: KNOW ALL MEN BY THESE PRESENTS that the City of Clearwater, Florida (hereinafter called the "Issuer") for value received, hereby promises to pay to the order of the Registered Owner identified above or registered assigns, as herein provided, on the Maturity Date identified above, upon the presentation and surrender hereof at the principal corporate trust office of in the City of , from the revenues hereinafter mentioned, the Principal Amount identified above in any coin or currency of the United States of America which on the date of payment thereof is legal tender for the payment of public and private debts, and to pay, solely from said sources, to the Registered Owner hereof by wire transfer or check transmitted to the Registered Owner at his address as it appears on the Bond registration books of the Issuer as it appears on the 15th day of the calendar month preceding the applicable interest payment date, interest on said Principal Amount at the Interest Rate per annum identified above on each 1 and 1 commencing from the interest payment date next preceding the date of registration and authentication of this Bond, unless this Bond is registered and authenticated as of an interest payment date, in which case it shall bear interest from said interest payment date, or unless this Bond is registered and authenticated prior to in which event this Bond shall bear interest from , _. The Bonds of this issue [shall not be] [shall be] subject to redemption prior to their maturity at the option of the Issuer. (Insert Optional or Mandatory Redemption Provisions) Notice of such redemption shall be given in the manner required by the Resolution described below. This Bond is one of an authorized issue of Bonds in the aggregate principal amount of $ of like date, tenor and effect, except as to number, principal amount, maturity redemption provisions and 16 Ordinance No. 6876-01 interest rate, issued to acquire, construct and erect certain capital improvements, all in full compliance with the Constitution and Statutes of the State of Florida, including particularly Chapter 166, Part II, Florida Statutes, and Ordinance No. -01 duly enacted by the Issuer on , 2001, as supplemented (hereinafter collectively called the "Ordinance") and is subject to all the terms and conditions of such Ordinance. All capitalized undefined terms used herein shall have the meaning set forth in the Ordinance. This Bond is payable solely from and secured by the Public Service Tax and, until applied in accordance with the provisions of this Ordinance, all moneys, including investment thereof, in the funds and accounts established hereunder, with the exception of the Rebate Fund (collectively, the "Pledged Revenues") in the manner provided in the Ordinance. This Bond does not constitute a general indebtedness of the Issuer within the meaning of any constitutional, statutory or charter provision or lir-rdtation, and it is expressly agreed by the Holder of this Bond that such Bondholder shall never have the right to require or compel the exercise of the ad valorem taxing power of the Issuer or taxation of any real or personal property therein for the payment of the principal of and interest on this Bond or the making of any debt service fund, reserve or other payments provided for in the Ordinance. It is further agreed between the Issuer and the Holder of this Bond that this Bond and the indebtedness evidenced thereby shall not constitute a lien upon or on any other property of or in the Issuer or any part thereof, but shall constitute a lien only on the Pledged Revenues all in the manner provided in the Ordinance. It is certified that this Bond is authorized by and is issued in conformity with the requirements of the Constitution and Statutes of the State of Florida. This Bond is and has all the qualities and incidents of a negotiable instrument under Article 8 of the Uniform Commercial Code, the State of Florida, Chapter 678, Florida Statutes. The transfer of this Bond is registrable by the Bondholder hereof in person or by his attorney or legal representative at the principal corporate trust office of the Registrar but only in the manner and subject to the conditions provided in the Ordinance and upon surrender and cancellation of this Bond. This Bond shall not be valid or become obligatory for any purpose or be entitled to any benefit or security under the Ordinance until it shall have been authenticated by the execution by the Registrar of the certificate of authentication endorsed hereon. 17 Ordinance No. 6876-01 IN WITNESS WHEREOF, the City of Clearwater, Florida, has issued this Bond and has caused the same to be signed by its Mayor-Commissioner and City Manager and countersigned and attested to by its Clerk and approved as to form, sufficiency and correctness by the City Attorney (the signatures of the Mayor-Commissioner, the City Manager, the City Attorney and the Clerk being authorized to be facsimiles of such ofIicers'signatures), and its seal or facsimile thereof to be affixed, impressed, imprinted, lithographed or reproduced hereon, all as of the ,_,_, day of _'200-. CITY OF CLEARWATER, FLORIDA (SEAL) (manual or facsimile) Mayor-Commissioner ATTESTED AND COUNTERSIGNED: (manual or facsimile) City Manager (manual or facsimile) Clerk Approved as to form and legal sufficiency: -(manual or facsimile) City Attorney CERTIFICATE OF AUTHENTICATION This Bond is one of the Bonds issued under the provisions of the within mentioned Ordinance. Registrar, as Authenticating Agent Date of Authentication: By_ (manual signature)- Authorized Officer 1.8 Ordinance No. 6876-01 ASSIGNMENT AND TRANSFER For value received the undersigned hereby sells, assigns and transfers unto (Please insert Social Security or other identifying number of transferee) the attached bond of the City of Clearwater, Florida, and does hereby constitute and appoint , attorney, to transfer the said Bond on the books kept for Registration thereof, with full power of substitution in the premises. Date Signature Guaranteed by (member firm of the New York Stock Exchange or a commercial bank or a trust company.] By: Title: NOTICE: No transfer will be registered and no new Bonds will be issued in the name of the Transferee, unless the signature to this assignment corresponds with the name as it appears upon the face of the within Bond in every particular, without alteration or enlargement or any change whatever and the Social Security or Federal Employer Identification Number of the Transferee is supplied. (END OF FORM OF BOND] 19 Ordinance No. 6876-01 SECTION 16. CREATION OF Fni MS. There are hereby created and established the following funds and accounts, which funds and accounts shall be trust fiends for the purposes herein provided and used only in the manner herein provided: (A) The "City of Clearwater Improvement Revenue Bonds Revenue Fund" (hereinafter sometimes called the "Revenue Fund") to be held by the Issuer and to the credit of which deposits sliall be made as required by Section 20(A) hereof. (B) The "City of Clearwater Improvement Revenue Bonds Bond Service Fund" (hereinafter sometimes called the "Bond Service Fund") to be held by the Issuer and to the credit of which deposits shall be made as required by Section 20(B)(1) hereof. In such fund there shall be maintained the following accounts: the Principal Account, the Interest Account and the Redemption Account. (C) The "City of Clearwater Improvement Revenue Bonds Reserve Fund" (hereinafter sometimes called the "Reserve Fund"), including a separate amount for each Series of Bonds, if required, to be held by the Issuer and to the credit of which deposits shall be made as required by Section 20(B)(2) hereof. (D) The "City of Clearwater Improvement Revenue Bonds Subordinated Debt Service Fund" (hereinafter sometimes called the "Subordinated Debt Service Fund") to be created by the Issuer if and when needed and to be held by the Issuer and to the credit of which deposits shall be made as required by Section 20(8)(3) hereof. (E) The "City of Clearwater Improvement Revenue Bonds Construction Fund" (hereinafter sometimes called the "Construction Fund") to be held by the Issuer and to the credit of which deposits shall be made as required by Section 17 hereof. Within such find there shall be maintained separate accounts for each Series of Bonds and furthermore be maintained separate accounts for capitalized interest funded from the proceeds of any Series of Bonds. (F) The "City of Clearwater Improvement Revenue Bonds Proceeds Fund" (hereinafter sometimes called the "Proceeds Fund") to be held by the Issuer and to the credit of which deposits shall be made as required by Section 1 SA hereof. SECTION 17. APPLICATION OF BOND PROCEEDS. The proceeds, including accrued interest and premium, if any, received from the sale of any Series of Bonds shall be applied by the Issuer simultaneously with the delivery of such Bonds to the purchaser thereof, as follows: (A) The accrued interest shall be deposited in the Interest Account in the Bond Service Fund and shall be used only for the purpose of paying interest becoming due on the Bonds. 20 Ordinance No. 6876-01 (B) Unless otherwise provided in a supplemental ordinance or resolution of the Issuer or unless the Issuer has provided for a surety bond, a letter of credit, or other form of credit enhancement as provided in Section 20(B)(2) hereof, a sum equal to the Reserve Requirement shall be deposited in the Reserve Fund and shall be used only for the purposes provided therefor. (C) A sufficient amount of the Bond proceeds shall be applied to the payment of the premiums of any municipal bond insurance policies applicable to the Bonds and to the payment of costs and expenses relating to the issuance of the Bonds which must be paid upon delivery of the Bonds. (D) A surn as shall be determined by supplemental resolution of the Issuer shall be deposited into the Construction Fund and used for the purpose of paying Project Costs, if any. (E) A sum as shall be determined by supplemental resolution of the Issuer shall be deposited into the Proceeds Fund and used for the purpose of refunding outstanding debt obligations of the Issuer. (F) Any remaining moneys from the Bonds shall be deposited as provided in supplemental resolutions of the Issuer, but shall only be used for the purposes permitted by law. The proceeds of any series of Bonds shall be applied as provided by supplemental resolution of the Issuer adopted at or prior to sale of such series of the Bonds. SECTION 18. DISBURSEMENTS FROM CONSTRUCTION FUND. Moneys on deposit from time to time in the Construction Fluid shall be used to pay or reimburse the following Project Costs: (A) Costs incurred directly or indirectly for or in connection with a Project or a proposed or future Project including, but not limited to, those for preliminary planning and studies, architectural, legal, financial, engineering and supervisory services, labor, services, materials, equipment, acquisitions, land, rights-of-way, improvements and installation; (B) Premiums attributable to all insurance required to be taken out and maintained during the period of construction with respect to a Project to be acquired or constructed, the premium on each surety bond, if any, required with respect to work on such facilities, and taxes, assessments and other charges hereof that may become payable during the period of construction with respect to such a Project; (C) Costs incurred directly or indirectly in seeking to enforce any remedy against a contractor or subcontractor in respect of any default under a contract relating to a Project or costs incurred directly or indirectly in defending any claim by a contractor or subcontractor with respect to a Project; 21 Ordinance No. 6876-01 (D) Financial, legal, accounting, appraisals, title evidence and printing and engraving fees, charges and expenses, and all other such fees, charges and expenses incurred in connection with the authorization, sale, issuance and delivery of such Series of Bonds; (E) Interest funded from Bond proceeds, if any, for a reasonable period of time, which shall be deposited in the Construction Fund and shall be used as provided in a supplemental resolution of the Issuer; (F) Any other incidental and necessary costs including without limitation any expenses, fees and charges relating to the acquisition, construction or installation of a Project, and the making of extraordinary repairs, renewals and replacements, decommissioning or retirement of any portion of, including the cost of temporary employees of the Issuer retained to carry out duties in connection with the acquisition, construction or erection of a Project; (G) Costs incurred directly or indirectly in placing any Project in operation in order that completion of such Project may occur; (H) Any other costs authorized pursuant to a supplemental resolution of the Issuer and permitted under the laws of the State; and (I) Reimbursements to the Issuer for any of the above items theretofore paid by or on behalf of the Issuer. SECTION 18A. DISBURSEIENTS FROM PROCEEDS FUND. Moneys on deposit from time to time in the Proceeds Fund shall be used to fund deposits to, or to purchase Permitted Investments for deposit to, an escrow fund established pursuant to an Escrow Deposit Agreement, all as shall be set forth in a resolution of the Issuer adopted prior to the issuance of any refunding bonds hereunder. SECTION 19. SPECIAL OBLIGATIONS OF ISSUER. The Bonds shall not be or constitute general obligations or indebtedness of the Issuer as "bonds" within the meaning of the Constitution of Florida, but shall be payable solely from and secured by a pledge of the Fledged Revenues as herein provided. No Holder or Holders of any Bonds issued hereunder shall ever have the right to compel the exercise of the ad va;orem taxing power of the Issuer or taxation in. any form of any real or personal property therein, or to compel the Issuer to pay such principal and interest from any other funds of the Issuer. The payment of principal of and interest on the Bonds shall be secured forthwith equally and ratably by, and the. Issuer hereby grants to the Bondholders an irrevocable lien on the Pledged Revenues, prior and superior to all other liens or encumbrances on such Pledged Revenues and the Issuer does hereby irrevocably pledge such Pledged Revenues to the payment of the principal of, redemption premium, if any, 22 Ordinance No. 6876-01 and interest on the Bonds, for the reserves therefor and for all other payments required hereunder. Such amounts hereby pledged and assigned shall immediately be subject to the lien of this pledge without any further physical delivery thereof or any further act, and the lien of this pledge shall be valid and binding as against all parties having claims of any kind in tort, contract or otherwise against the Issuer, irrespective of whether such parties have notice thereof. SECTION 20. COVEN.%-NTS OF THE ISSUER. For so long as any of the principal of and interest on any of the Bonds shall be outstanding and unpaid or until the Issuer has made provision for payment of principal, interest and redemption premiums, if any, with respect to the Bonds, as provided herein, the Issuer covenants with the Holders of any and all Bonds as follows: (A) REVENUE FUND. All Public Service Tax Revenues shall upon receipt thereof be deposited in the Revenue Fund. All deposits into such Revenue Fund shall be deemed to be held in trust for the purposes herein provided and used only for the purposes and in the manner herein provided. (B) DISPOSITION OF REVENUES. All revenues in the Revenue Fund, shall be disposed of monthly, but not later than the twenty-Fifth (25th) day of each month commencing in the month immediately following the delivery of the initial series of Bonds, for so long as any Bonds remain Outstanding, only in the following manner and the following order of priority: (1) The Issuer shall first deposit into the Bond Service Fund and credit to the following accounts, in the following order (except that payments in the Principal Account and the Redemption Account shall be on a parity with each other), the following identified sums: (a) Interest Account: Such sum as will be sufficient to pay one-sixth (1/6th) (or such higher monthly amount on a prorated basis) of all interest coming due on all Outstanding Bonds on the next interest payment date, together with any fees and charges of the Paying Agent and Registrar therefor; provided, however, that monthly deposits of interest, or portions thereof, shall not be required to be made to the extent that money on deposit within such Interest Account is sufficient for such purpose. In the event the Issuer has issued Variable Rate Bonds pursuant to the provisions hereof, Public Service Tax Revenues shall be deposited at such other or additional times and amounts as necessary to pay any interest coming due on such Variable Rate Bonds on the next interest payment date, all in the manner provided in a supplemental resolution of the Issuer. Any monthly payment out of Public Service Tax Revenues to be deposited as set forth above, for the purpose of meeting interest payments for any Series of Bonds, shall be adjusted, as appropriate, to reflect the frequency of interest payment dates applicable to such Series. Moneys in the Interest Account may be used only for the purposes set forth in this paragraph (a). (b) Principal Account: Such sum as will be sufficient to pay one-twelfth (1/12th) (or such higher monthly amount on a prorated basis) of the principal amount of the Outstanding Bonds which will mature and become due on such annual maturity dates beginning in 23 Ordinance No. 6876-01 the month which is twelve (12) months prior to the first principal maturity date; provided, however, that monthly deposits for principal, or portions thereof, shall not be required to be made to the extent that money on deposit within such Principal Accouuit is sufficient for such purpose. Any monthly payment out of Public Service Tax Revenues to be deposited as set forth above, for the purpose of meeting principal payments for any Series of Bonds, shall be adjusted, as appropriate, to reflect the frequency of principal payment dates applicable to such Series. I'VIoneys in the Principal Account may be used only for the purposes set forth in this paragraph (b). (c) Redemption Account: Such sum as will be sufficient to pay one-twelfth (1/1 2th) (or such higher amount on a prorated basis) of any Amortization Installment established for the mandatory redemption of Outstanding Bonds on such annual maturity date beginning in the month which is twelve (12) months prior to the first Amortization Installment date; provided, how- ever, that monthly deposits into the Redemption Account, or portions thereof, shall not be required to be made to the extent that money on deposit in the Redemption Account is sufficient for such purpose. Any monthly payment out of Public Service Tax Revenues to be deposited as set forth above, for the purpose of meeting Amortization Installments for any Series of Bonds, shall be adjusted, as appropriate, to reflect the frequency of dates established for Amortization Installments applicable to such Series. The moneys in the Redemption Account shall be used solely for the purchase or redemption of the Term Bonds payable therefrom. The Issuer may at any time purchase any of said Term Bonds at prices not greater than the then redemption price of said Term Bonds. If the Term Bonds are not then redeemable prior to maturity, the Issuer may purchase said Term Bonds at prices not greater than the redemption price of such Term Bonds on the next ensuing redemption date. If Term Bonds are so purchased by the Issuer, the Issuer shall credit the account of such purchased Term Bonds against any current Amortization Installment to be paid by the Issuer. If the Issuer shall purchase or call for redemption in any year Term Bonds in excess of the Amortization Installment requirement for such year, such excess of Term Bonds so purchased or redeemed shall be credited in such manner and at such times as the Issuer shall determine. Moneys in the Redemption Account in the Debt Service Fund may be used only for the purposes set forth in this paragraph (c). (2) The Issuer shall next deposit from moneys remaining in the Revenue Fund an amount required by the resolution of the Issuer authorizing each Series of Bonds into the Reserve Fund. Any withdrawals from the Reserve Fund shall be subsequently restored from the first moneys available in the Revenue Fund, after all current applications and allocations to the Bond SerAce Fund, including all deficiencies for prior payments have been made in full. Notwithstanding the foregoing, in case of withdrawal from the Reserve Fund, in no event shall the Issuer be required to deposit into the Reserve Fund an amount greater than that amount necessary to ensure that the difference beNveen the Reserve Requirement and the amounts on deposit in the Reserve Fund on the date of calculation shall be restored not later than sixty (60) months after the date of such. deficiency (assuming equal monthly payments into the Reserve Fund for such sixty (60) month period). The Issuer may provide that the difference between the amounts on deposit in the Reserve Fund and the Reserve Requirement shall be an amount covered by 24 Ordinance No. 6876-01 obtaining bond insurance issued by a reputable and recognized municipal bond insurer, by a letter of credit rated in one of the two highest categories by one of two nationally recognized rating agencies, by a surety bond acceptable to any company issuing a policy of municipal bond insurance guaranteeing the payment of principal and interest on such Series of Bonds, or any combination thereof. Moneys in the Reserve Fund shall be used only for the purpose of the payment of Amortization Installments, principal of, or interest on the Outstanding Bonds when the other moneys allocated to the Bond Service Fund are insufficient therefor, and for no other purpose. Securities in the Reserve Fund shall be valued annually at market rate. Deficiencies in the amounts on deposit in the Reserve Fund resulting from a decline in market value shall be restored no later than the succeeding interest payment date. In the event of the refunding of any Series of Bonds, the Issuer may withdraw from the Reserve Fund, all or any portion of the amounts accumulated therein with respect to the Bonds being refunded and deposit such amounts as required by the resolution authorizing the refunding of such Series of Bonds; provided that such withdrawal shall not be made unless (a) immediately thereafter the Bonds being refunded shall be deemed to have been paid pursuant to the provisions hereof and (b) the amount remaining in the Reserve Fund after giving effect to the issuance of such refunding obligations and the disposition of the proceeds thereof shall not be less than the Reserve Requirement for any Bonds then Outstanding. (3) From the moneys remaining in the Revenue Fund, the Issuer shall next deposit into the Subordinated Debt Service Fund, if any, an amount required to be paid as provided in the resolution of the Issuer authorizing such Subordinated Indebtedness for principal, interest, mandatory redemption payments, if any, and debt service reserve payments, if any, on Subordinated Indebtedness, but for no other purposes. (4) The balance of any moneys remaining in the Revenue Fund after the above required payments have been made may be used for any lawful purpose; provided, however, that none of said money shall be used for any purposes other than those hereinabove specified unless all current payments, including any deficiencies for prior payments, have been made in full and unless the Issuer shall have complied fully with all the covenants and provisions of this Ordinance. (5) The Bond Service Fund (including the accounts therein), the Reserve Fund, the Revenue Fund, and any other special funds herein established and created shall be deemed to be held in trust for the purposes provided herein for such funds. The money in all such funds shall be continuously secured in the same manner as state and municipal deposits are authorized to be secured by the laws of the State of Florida in Permitted Investments. Except as otherwise permitted by the resolution authorizing any Series of Bonds, moneys in any fund or account created hereunder (with the exception of the Reserve Fund) may be invested and reinvested in Permitted Investments which mature not later than the dates on which the moneys on deposit therein will be needed for the purpose of such fund. Except as otherwise permitted by the resolution 25 Ordinance No. 6876-01 authorizing any Series of Bonds, moneys in the Reserve Fund may be invested and reinvested in Permitted Investments maturing not later than five (5) years after deposit into such Reserve Fund by the Issuer. All income on such investments, except as otherwise provided, shall be deposited in the respective funds and accounts from which such investments were made and be used for the purposes thereof unless and until the maximum required amount (or, with respect to the Construction Fund, the amount required to acquire, construct and erect the Project) is on deposit therein, and thereafter shall be deposited in the Revenue Fund. (6) In determining the amount of any of the payments required to be made pursuant to this Section, credit may be given for all investment income accruing to the respective funds and accounts described herein, except as otherwise provided. (7) The cash required to be accounted for in each of the Rinds and accounts described in this Section may be deposited in a single bank account, provided that adequate accounting records are maintained to reflect and control the restricted allocation of the cash on deposit therein for the various purposes of such funds and accounts as herein provided. The designation and establishment of the various funds in and by this Ordinance shall not be construed to require the establishment of any completely independent, self-balancing funds as such term is commonly defined and used in governmental accounting, but rather is intended solely to constitute an earmarking of certain revenues and assets of the Project for certain purposes and to establish certain priorities for application of such revenues and assets as herein provided. (C) BOOKS AND ACCOUNTS; AUDIT. The Issuer shall keep proper books, records and accounts, separate and apart from all other records and accounts, showing correct and complete entries of all transactions of the Project, and the Holders of any of the Bonds or any duly authorized agent or agents of such Holders shall have the right at any and all reasonable times to inspect such books, records and accounts. The Issuer slmall, within one hundred eighty (180) days following the close of each Fiscal Year of the Issuer cause an audit of such books, records and accounts to be made by an independent firm of certified public accountants. Copies of each such audit report shall be placed on file with the Issuer and be made available at reasonable times for inspection by Holders of the Bonds. (D) ENFORCEMENT OF COLLECTIONS. The Issuer shall do all things necessary on its part to continue the levy and collection of the Public Service Tax at the rate permitted by and in compliance with Section 166.231, Florida Statutes, and Article III, Chapter 44, Code of Ordinances of the Issuer, and Chapter 2000-260, Laws of Florida, with respect to the Communication Services Tax, as applicable, and any successor provision of law. All such Pledged Revenues shall, as collected, be held in trust to be applied as herein provided. 26 Ordinance No. 6876-01 (E) ISSUANCE OF OTHER OBLIGATIONS. The Issuer shall issue no bonds or obligations of any kind or nature payable from or enjoying a lien on the Pledged Revenues if such obligations have priority over the Bonds with respect to payment or lien, nor shall the Issuer create or cause or permit to be created any debt, lien, pledge, assignment, encumbrance or other charge on a parity with the lien of the Bonds upon said Pledged Revenues. Notwithstanding any other provision in this Section, the Issuer may issue Additional Parity Obligations under the conditions and in the manner provided herein. Any obligations of the Issuer, other than the Bonds, which are payable from the Pledged Revenues shall contain an express statement that such obligations are junior and subordinate in all respects to the Bonds as to lien on and source and security for payment from such Pledged Revenues. (F) ISSUANCE OF ADDITIONAL PARITY OBLIGATIONS. No Additional Parity Obligations, payable on a parity with the Bonds then Outstanding pursuant to this Ordinance, shall be issued except upon the conditions and in the manner herein provided. The Issuer may issue one or more Series of Additional Parity Obligations by subsequent resolution for any one or more of the following purposes: financing the cost of any Project or refunding any or all Outstanding Bonds or of any Subordinated Indebtedness of the Issuer. No such Additional Parity Obligations shall be issued unless the following conditions are complied with: (1) There shall have been obtained and filed with the Clerk a certificate of the Finance Director stating: (a) that the books and records of the Issuer relative to the Pledged Revenues have been reviewed; (b) setting forth the amount of the adjusted Pledged Revenues derived for any consecutive twelve (12) months out of the preceding twenty-four (24) months preceding the date of issuance of the proposed Additional Parity Obligations adjusted as herein below provided; (c) that the aggregate amount of such Pledged Revenues, as adjusted pursuant to paragraph 2 below, is equal to not less than 120% (or such other percentage as may be set forth in a subsequent resolution of the Issuer adopted prior to the issuance of the Series 2001 Bonds) of the Maximum Bond Service Requirement becoming due in any Bond Year thereafter on (i) all Bonds issued under this Ordinance then Outstanding, and (ii) on the Additional Parity Obligations with respect to which such certificate is made. (2) Upon recommendations of the Finance Director and to the extent adopted in a subsequent resolution of the Issuer, if there is an estimated increase in Public Service Tax Revenues to be received by the Issuer as a result of a change in law to provide for additional Public Service Tax Revenues to be levied and collected by the Issuer, then the Public Service Tax Revenues portion of Pledged Revenues certified pursuant to paragraph 1(b) of this Section shall be increased by the projected increase in Public Service Tax Revenues to be distributed as if such excess Public Service Tax Revenues were in fact available to the Issuer during the applicable twelve month period. (3) Additional Parity Obligations shall be deemed to have been issued pursuant to this Ordinance the same as the Outstanding Bonds, and all of the other covenants and other provisions of this 27 Ordinance No. 6876-01 Ordinance (except as to details of such Additional Parity Obligations inconsistent therewith) shall be for the equal benefit, protection and security of the Holder of all Bonds issued pursuant to this Ordinance. Except as provided in Section 20(F) hereof, all Bonds, regardless of the time or times of their issuance, shall rank equally with respect to their lien on the Pledged Revenues and their sources and security for payment therefrom without preference of any Bonds over any other. (4) In the event that the total amount of Bonds herein authorized to be issued are not issued simultaneously, such Bonds which are subsequently issued shall be subject to the conditions of Section 20(F) hereof. (a) The Issuer need not comply with the provisions of paragraph 1 of this Section 20(F) if and to the extent the Additional Parity Obligations to be issued are refunding bonds, and if the Issuer shall cause to be delivered a certificate of the Finance Director setting forth the annual debt service (1) for the Bonds then Outstanding and (ii) for all Bonds to be immediately Outstanding after the issuance of such Additional Parity Obligations and stating that the Bond Service Requirement in any year pursuant to (ii) above is not greater than the Bond Service Requirement in the corresponding year set forth pursuant to (i) above. (6) The Issuer shall not be in default in the carrying out of any of the obligations assumed under this Ordinance and no event of default shall have occurred under this Ordinance and shall be continuing, and all payments required by this Ordinance to be made into the funds and accounts established hereunder shall have been made to the full extent required. (7) The resolution authorizing the issuance of the Additional Parity Obligations shall recite that all of the covenants contained herein will be applicable to such Additional Parity Obligations. SECTION 21. DEFAULTS; EVENTS OF DEFAULT AND REIMMDIES. Except' as provided below, if any of the following events occur it is hereby defined as and declared to be and to constitute an "Event of Default": (A) Default in the due and punctual payment of any interest on the Bonds; (B) Default in the due and punctual payment of the principal of and premium, if any, on any Bond, at the stated maturity thereof, or upon proceedings for redemption thereof; (C) Default in the performance or observance of any other of the covenants, agreements or conditions on the part of the Issuer contained in this Ordinance or in the Bonds and the continuance thereof for a period of thirty (30) days after written notice to the Issuer given by the Holders of not less than twenty-five percent (25%) of aggregate principal amount of Bonds then Outstanding (provided, however, that with respect to any obligation, covenant, agreement or condition which requires performance by a date 28 Ordinance No. 6876-01 certain, if the Issuer performs such obligation, covenant, agreement or condition within thirty (30) days of written notice as provided above, the default shall be deemed to be cured); (D) Failure by the Issuer promptly to remove any execution, garnishment or attachment of such consequence as will materially impair its ability to carry out its obligations hereunder; (E) Any act ofbanlavptcy or the rearrangement, adjustment-or readjustment of the obligations of the Issuer under the provisions of any bankruptcy or moratorium laws or similar laws relating to or affecting creditors' rights. The term "default" shall mean default by the Issuer in the performance or observance of any of the covenants, agreements or conditions on its part contained in this Ordinance, any supplemental resolution or in the Bonds, exclusive of any period of grace required to constitute a default or an "Event of Default" as hereinabove provided. For purposes of Section 21(X) and (B) hereof, no effect shall be given to any payments made under any Bond Insurance Policy. Any Holder of Bonds issued under the provisions hereof or any trustee acting for the Holders of such Bonds, may either at law or in equity, by suit, action, mandamus or other proceedings in any court of competent jurisdiction, protect and enforce any and all rights, including the right to the appointment of a receiver, existing under State or federal law, or granted and contained herein, and may enforce and compel the performance of all duties required herein or by any applicable law to be performed by the Issuer or by any officer thereof. Nothing herein, however, shall be construed to grant to any Holder of the Bonds any lien on any property of the Issuer, except the Pledged Revenues. The foregoing notwithstanding: (i) No remedy conferred upon or reserved to the Bondholders is intended to be exclusive of any other remedy, but each remedy shall be cumulative and shall be in addition to any other remedy given to the Bondholders hereunder. (ii) No delay or omission to exercise any right or power accruing upon any default or Event of Default sliall impair any such right or power or shall be construed to be a waiver of any such default or acquiescence therein, and every such right and power may be exercised as often as may be deemed expedient. 29 Ordinance No. 6876-01 (iii) No waiver of any default or Event of Default hereunder by the Bondholders shall extend to or shall affect any subsequent default or Event of Default or shall impair any rights or remedies consequent thereon. (iv) Acceleration of the payment of principal of and interest on the Bonds shall not be a remedy hereunder in the case of an Event of Default. Upon the occurrence of an Event of Default, and upon the filing of a suit or other commencement of judicial proceedings to enforce the rights of the Bondholders under this Ordinance, the Bondholders shall be entitled, as a matter of right, to the appointment of a receiver or receivers of the Project and the funds pending such proceedings, with such powers as the court making such appointment shall confer. Notwithstanding any provision of this Ordinance to the contrary, for all purposes of this Section 21, except the giving of notice of any Event of Default to the Holder of the Bonds, the Bond Insurer shall be deemed to be the Holder of the Bonds it has insured. On the occurrence of an Event of Default, to the extent such rights may then lawfully be waived, neither the Issuer nor anyone claiming through or under it, shall set up, claim or seek to take advantage of any stay, extension or redemption laws now or hereafter in force, in order to prevent or hinder the enforcement of this Ordinance, and the Issuer, for itself and all who may claim through or under it, hereby waives, to the extent it may lawfully do so, the benefit of all such laws and all right of redemption to which it may be entitled. Within 30 days of knowledge thereof, both the Issuer and the Paying Agent shall provide notice to the Bond Insurer of the occurrence of any Event of Default. The Bond Insurer shall be included as a party in interest and as a party entitled to (i) notify the Issuer or any Paying Agent of the occurrence of an Event of Default and (ii) request the Issuer or any Paying Agent to intervene in judicial proceedings that affect the Bonds or the security therefor. The Issuer and any Paying Agent are required to accept notice of default from the Bond Insurer. Anything in this Ordinance to the contrary notwithstanding, upon the occurrence and continuance of an Event of Default, the Bond Insurer shall be entitled to control and direct the enforcement of all rights and remedies granted to the Bondholders under this Ordinance and the Bond Insurer shall also be entitled to approve all waivers of events of default. SECTION 22. AMENDING Al`SID SUPPLEMENTING OF ORDINANCE WITHOUT CONSENT OF HOLDERS OF BONDS. The Issuer, from time to time and at any time and without the consent or concurrence of any Holder of any Bonds, may enact an ordinance amendatory hereof or supplemental hereto, if the provisions of such supplemental ordinance shall not adversely affect the rights of the Holders of the Bonds then Outstanding, for any one or more of the following purposes: 30 Ordinance No. 6576-01 (A) To make any changes or corrections in this Ordinance as to which the Issuer shall have been advised by counsel that are required for the purpose of curing or correcting any ambiguity or defective or inconsistent provisions or omission or mistake or manifest error contained in this Ordinance, or to insert in this Ordinance such provisions clarifying matters or questions arising under this Ordinance as are necessary or desirable; (B) To add additional covenants and agreements of the Issuer for the purpose of fiuther securing the payments of the Bonds; (C) To surrender any right, power or privilege reserved to or conferred upon the Issuer by the terms of this Ordinance; (D) To confirm as further assurance any lien, pledge or charge or the subjection to any lien, pledge or charge, created or to be created by the provisions of this Ordinance; (E) To grant to or confer upon the Holders any additional right, remedies, powers, authority or security that lawfully may be granted to or conferred upon them; (F) To assure compliance with federal "arbitrage" provisions in effect from time to time; (G) To provide such changes as may be necessary in order to adjust the terms hereof so as to facilitate the issuance of Variable Rate Bonds or Option Bonds; and (H) To modify any of the provisions of this Ordinance in any other aspects provided that such modifications shall not be effective until after the Bonds Outstanding at the time such supplemental ordinance is adopted shat cease to be Outstanding, or until the holders thereof consent thereto pursuant to Section 23 hereof, and any Bonds issued subsequent to any such modification shall contain a specific reference to the modifications contained in such supplemental ordinance. Except for supplemental ordinances providing for the issuance of Bonds pursuant hereto, the Issuer shall not enact any supplemental ordinance authorized by the foregoing provisions of this Section unless in the opinion of Bond Counsel the enactment of such supplemental ordinance is permitted by the foregoing provisions of this section. SECTION 23. AMENDMENT OF ORDINANCE WITH CONSENT OF HOLDERS OF BONDS. Except as provided in Section 22 hereof, no material modification or amendment of this Ordinance or of any resolution supplemental hereto shall be made without the consent in writing of the Holders of fifty-one percent or more in the principal amount of the Bonds of each Series so affected and then Outstanding. For purposes of this Section, to the extent any Bonds are insured by a policy of municipal bond insurance or are secured by a letter of credit and such Bonds are then rated in as high a rating category as the rating category in which such Bonds were rated at the time of initial issuance 31 Ordinance No. 6876-01 and delivery thereofby either Standard & Poor's Corporation or Moody's Investors Service, or successors and assigns, then the consent of the issuer of such municipal bond insurance policy or the issuer of such letter of credit shall be deemed to constitute the consent of the Holder of such Bonds. No modification or amendment shall permit a change in the maturity of such Bonds or a reduction in the rate of interest thereon or in the amount of the principal obligation thereof or affecting the promise of the Issuer to pay the principal of and interest on the Bonds as the same shall become due from the Pledged Revenues or reduce the percentage of the Holders of the Bonds required to consent to any material modification or amendment hereof without the consent of the Hol&:r or Holders of all such obligations. For purposes of the immediately preceding sentence, the issuer of a municipal bond insurance policy or a letter o f credit shall not consent on behalf of the Holders of the Bonds. No amendment or supplement pursuant to this Section 23 (but not including Section 22 hereof) shall be made without the consent of the Bond Insurer, if any. SECTION 24. DEFEASAINCE. The covenants and obligations of the Issuer shall be defeased and discharged under terms of this Ordinance as follows: (A) If the Issuer shall pay or cause to be paid, or there shall otherwise be paid, to the Holders of all Bonds the principal, redemption premium, if any, and interest due or to become due thereon, at the times and in the manner stipulated herein, then the pledge of the Pledged Revenues and all covenants, agreements and other obligations of the Issuer to the Bondholders, shall thereupon cease, terminate and become void and be discharged and satisfied. If the Issuer shall pay or cause to be paid, or there shall otherwise be paid, to the Holders of any Outstanding Bonds the principal or redemption premium, if any, and interest due or to become due thereon, at the times and in the manner stipulated herein, such Bonds shall cease to be entitled to any lien, benefit or security under this Ordinance, and all covenants, agreements and obligations of the Issuer to the Holders of such Bonds shall thereupon cease, terminate and become void and be discharged and satisfied. (B) The Bonds, redemption premium if any, and interest due or to become due for the payment or redemption of which moneys shall have been set aside and shall be held in trust (through deposit by the Issuer of funds for such payment or redemption or otherwise) at the maturity or redemption date thereof shall be deemed to have been paid within the meaning and with the effect expressed in paragraph (A) of this Section 24. Subject to the provisions of paragraph (C) and (D) of this Section 24, any Outstanding Bonds shall prior to the maturity or redemption date thereof be deemed to have been paid within the meaning and with the effect expressed in paragraph (A) of this Section if (i) in case any of said Bonds are to be redeemed on any date prior to their maturity, the Issuer shall have given to the escrow agent instructions accepted in writing by the escrow agent to notify Holders of Outstanding Bonds in the manner required herein of the redemption of such Bonds on said date and (ii) there shall have been deposited with the escrow agent either moneys in an amount which shall be sufficient, or Acquired Obligations (including any Acquired Obligations issued or held in book-entry form on the books of the Department of the Treasury of the United States) the principal of and the interest on which when clue will provide moneys which, together with the moneys, if any, deposited with the escrow agent at the same time, shall be 32 Ordinance No. 6876-01 sufficient, to pay when due the principal of or premium, if any, and interest due and to become due on said Bonds on or prior to the redemption date or maturity date thereof, as the case may be. (C) For purposes of determining whether Variable Rate Bonds shall be deemed to have been paid prior to the maturity or redemption date thereof, as the case may be, by the deposit of moneys, or acquired Obligations and moneys, if any, in accordance with paragraph B of this Section 24, the interest to come due on such Variable Rate Bonds on or prior to the maturity date or redemption date thereof, as the case may be, shall be calculated at the maximum rate permitted by the terms thereof; provided, however, that if on any date, as a result of such Variable Rate Bonds having borne interest at less than such maximum rate for any period, the total amount of moneys and Acquired Obligations on deposit with the escrow agent for the payment of interest on such Variable Rate Bonds is in excess of the total amount which would have been required to be deposited with the escrow agent on such date in respect of such Variable Rate Bonds in order to satisfy the second sentence of paragraph (B) of this Section 24, the escrow agent shall, if requested by the Issuer, pay the amount of such excess to the Issuer free and clear of any trust, lien, pledge or assignment securing the Bonds or otherwise existing under this Ordinance. (D) Option Bonds shall be deemed to have been paid in accordance with the second sentence of paragraph (B) of this Section 24 only if in addition to satisfying the requirements of clauses (i) and (ii) of such sentence, there shall have been deposited with the escrow agent moneys in an amount which shall be sufficient to pay when due the ma.Yirnum amount of principal of and redemption premium, if any, and interest on such Bonds which could become payable to the Holders of such Bonds upon the exercise of any options provided to the Holders of such Bonds; provided, however, that if, at the time a deposit is made with the escrow agent pursuant to paragraph (B) of this Section, the options originally exercisable by the Holder of an Option. Bond are no longer exercisable, such Bond shall not be considered an Option Bond for purposes of this paragraph (D). If any portion of the moneys deposited with the escrow agent for the payment of the principal of and redemption premium, if any, and interest on Option Bonds is not required for such purpose, the escrow agent shall, if requested by the Issuer, pay the amount of such excess to the Issuer free and clear of any wmt, lien, security interest, pledge or assignment securing said Bonds or otherwise existing under the Resolution. SECTION 25. GOVERNIVIENTA.L REORGANIZATION. Notwithstanding any other provisions of this Ordinance, this Ordinance shall not prevent any lawful reorganization of the govemmental structure of the Issuer, including a merger or consolidation of the Issuer with another public body or the transfer of a public function of the Issuer to another public body, provided that no such reorganization shall materially adversely affect the ability of the Issuer or the successor governmental entity to continue to collect and pledge the Pledged Revenues or the Issuer's right to collect the Pledged Revenues. SECTION 26. INIATTERS RELATING TO THE BOND INSURER. The Issuer hereby covenants, represents, and expressly agrees to the following terms and provisions as such are necessary and desirable in order to obtain a Municipal Bond Insurance Policy: 33 Ordinance No. 6876-01 A. Consent of the Bond Insurer. Any provision of this Ordinance expressly recognizing or granting rights in or to the Bond Insurer or to an Insurer may not be amended in any manner which affects the rights of the Bond Insurer hereunder without the prior written consent of the Bond Insurer. B. Consent-of the Bond Insurer in Addition to Bondholder Consent. Unless otherwise provided in this Section, the Bond Insurer's consent shall be required in addition to Bondholder consent, when required, for the following purposes: (i) execution and delivery of any supplemental ordinance or resolution or any amendment, supplement or change to or modification thereto, (ii) removal of the Paying Agent and selection and appointment of any successor paying agent; and (iii) initiation or approval of any action not described in (i) or (ii) above which requires Bondholder consent. C. Consent of the Bond Insurer in the vent of nsolvency. Any reorganization or liquidation plan with respect to the Issuer must be acceptable to the Bond hisurer. In the event of any reorganization or liquidation, the Bond Insurer shall have the right to vote on behalf of all Bondholders who hold the Bond Insurer-insured Bonds absent a default by the Bond Insurer under the applicable Municipal Bond Insurance Policy insuring such Bonds. D. Consent of the Bond insurer upon Default. Anything in this Ordinance to the contrary notwithstanding, upon the occurrence and continuance of an event of default as defined in this Ordinance, the Bond Insurer shall be entitled to control and direct the enforcement of all rights and remedies granted to the Bondholders for the benefit of the Bondholders under this Ordinance. E. Notification and Documents to be Furnished. While the Municipal Bond Insurance Policy is in effect, the Issuer shall finnish to the Bond Insurer (to the attention of the Surveillance Department, unless otherwise indicated): (i) as soon as practicable after the filing thereof, a copy of any financial statement of the Issuer and a copy of any audit and annual report of the Issuer; (ii) a copy of any notice to be given to the registered owners of the Bonds, including, without limitation, notice of any redemption of or defeasance of the Bonds, and any certificate rendered pursuant to this Ordinance or relating to the security for the Bonds; (iii) such additional information it may reasonably request; (iv) notice of any failure of the Issuer to provide relevant notices, certificates, etc.; and (v) immediate notification. if at any time there are insufficient moneys to make any payments of principal and or interest as required and immediate notification upon the occurrence of any event of default. 34 Ordinance No. 6876-01 F. mss to Issuer laformation. The Issuer will permit the Bond Insurer to discuss the affairs, financings and accounts of the Issuer or any information the Bond Insurer may reasonably request regarding the security for the Bonds with appropriate officers of the Issuer. The Issuer will permit the Bond Insurer to have access to the Project and to have access to and make copies of all books and records relating to the Bonds at any reasonable time. G. Condnuing Disclosure. To the extent that the Issuer has entered into a continuing disclosure obligation with respect to any Series of Bonds, the Bond Insurer for such Series shall be included as a party to be notified. Notwithstanding the foregoing or any other provision of this Ordinance or any subsequent resolution, the rights and benefits granted to the Bond Insurer shall be conditioned on, and shall be subject to, the absence of any default by the Bond Insurer on any applicable Municipal Bond Insurance Policy. SECTION 27. NO IMPAIRMENT. The pledging of the Pledged Revenues in the manner provided herein shall not be subject to repeal, modification or impairment by an subsequent ordinance, resolution or other proceedings of the City, provided however, the City may decrease the rates applicable for the application of the Pledged Revenues so long as sufficient Pledged Revenues are levied . to satisfy the tests of Section 20(F) hereof. . SECTION 28. CAPITAL APPRECIATION .BONDS. For the purposes of (i) receiving payment of the redemption price ofa Capital Appreciation Bond if redeemed prior to maturity, (ii) receiving payment if the principal of all Bonds is declared immediately due and payable, and (iii) computing the amount of Holders required for any notice, consent, request or demand hereunder for any purpose whatsoever, the principal amount of a Capital Appreciation Bond shall be deemed to be its Compounded Amount. SECTION 29. TAX COVENANTS. With respect to any Bonds for which the Issuer intends on the date of issuance thereof for the interest thereon to be excluded from gross income for purposes of Federal income taxation: (A) The Issuer shall. not use or permit the use of any proceeds of any such series of Bonds or any other funds of the Issuer, directly or indirectly, to acquire any securities or obligations, and shall not use or permit the use of any amounts received by the Issuer with respect to such series of Bonds in any manner, and shall not take or permit to be taken any other action or actions, which would cause any such series of Bonds to be a "private activity bond" within the meaning of Section 141 or an "arbitrage bond" within the meaning of Section 148, or "federally guaranteed" within the meaning of Section 149(b), of the Internal Revenue Code of 1986, as amended (the "Code"), or otherwise cause interest on such series of Bonds to become subject to federal income taxation. 35 Ordinance No. 6876.01 (B) The Issuer shall at all times do and perform all acts and things permitted by law and this Ordinance which are necessary or desirable in order to assure that interest paid on such series of Bonds will be excluded from gross income for purposes of federal income tares and shall take no action that would result in such interest not being so excluded. (C) The Issuer shall pay or cause to be paid to the United States Government any amounts required by Section 148(fl of the Code and the regulations thereunder (the "Regulations"). In order to insure compliance with the rebate provisions of Section 148(f) of the Code with respect to any such series of Bonds for which the Issuer intends on the date of issuance thereof to be excluded from gross income for purposes of Federal income taxation, the Issuer hereby creates the "City of Clearwater [Improvement] Revenue Bonds Rebate Fund" (hereinafter sometimes called the "Rebate Fund") to be held by the Issuer. The Rebate Fund need not be maintained so long as the Issuer timely satisfies its obligation to pay any rebatable earnings to the United States Treasury; however, the Issuer may, as an administrative convenience, maintain and deposit funds in the Rebate Fund from time to time. Any moneys held in the Rebate Fund shall not be considered Pledged Revenues and shall not be pledged in any manner for the benefit of the holders of the Bonds. Moneys in the Rebate Fund (including earnings and deposits therein) shall be held for future payment to the United States Government as required by the Regulations and as set forth in instructions of Bond Counsel delivered to the Issuer upon issuance of such Bonds. SECTION 30. ADDITIONAL RIGHTS TO BOND LNSURER. Pursuant to one or more supplemental resolutions, the Issuer may provide additional rights, covenants, agreements and restrictions relating to any Rating Agency, or any Bond Insurer with respect to a Municipal Bond Insurance Policy. SECTION 31. SEVERABILITY. If any one or more of the covenants, agreements or provisions of this Ordinance should be held contrary to any express provision of law or contrary to the policy of express law, though not expressly prohibited, or against public policy, or shall for any reason whatsoever be held invalid or shall in any manner be held to adversely affect the validity of the Bonds, then such covenants, agreements or provisions shall be null and void and shall be deemed separate from the remaining covenants, agreements or provisions of this Ordinance or of the Bonds issued hereunder. SECTION 32. SALE OF BONDS. The Bonds shall be issued and sold at public or negotiated sale at one time or in installments from time to time and at such price or prices as shall be consistent with the provisions of the requirements of this Ordinance and other applicable provisions of law as set forth in a supplemental resolution of the Issuer adopted before the issuance of any Series of Bonds. SECTION 33. GENERAL AUTHORITY. The members of the City Commission of the Issuer and the Issuer's officers, attorneys and other agents and employees are hereby authorized to perform all acts and things required of them by this Ordinance or desirable or consistent with the requirements hereof for the fiill, punctual and complete performance of all of the terms, covenants and agreements contained in the Bonds and this Ordinance, and they are hereby authorized to execute and 36 Ordinance No. 6876-01 deliver all documents which shall be required by Bond Counsel or the initial purchasers of the Bonds to effectuate the sale of the Bonds to said initial purchasers. SECTION 34. NO THIRD PARTY BENEFICIARIES. Except such other Persons as may be expressly described herein or in the Bonds including the Bond Insurer, nothing in this Ordinance, or in the Bonds, expressed or implied, is intended or shall be construed to confer upon any Person other than the Issuer and the Holders any right, remedy or clairri, legal or equitable, under and by reason of this Ordinance or any provision hereof, or of the Bonds, all provisions hereof and thereof being intended to be and being for the sole and exclusive benefit of the Issuer, the Bond Insurer, if any, and the Persons who shall from time to time be the Holders. SECTION 35. NO PERSONAL LIABILITY. Neither the members of the City Commission of the Issuer nor any person executing the Bonds shall be personally liable therefor or be subject to any personal liability or accountability by reason of the issuance thereof. SECTION 36. REPEAL OF INCONSISTENT INSTRUMENTS. Any other ordinance or resolutions, or parts thereof, in conflict herewith are hereby repealed to the extent of such conflict. SECTION 37. EFFECTIVE DATE. The provisions of this Ordinance shall take effect upon its enactment, as required by law. [Remainder of page intentionally left blank.] 37 Ordinance No. 6876-01 r SECTION 38. PUBLIC NOTICE. Notice of the proposed enactment of this Ordinance has been properly advertised in a newspaper of general circulation In accordance with Chapter 166.041, Florida Statutes. PASSED ON FIRST READING PASSED ON SECOND READING AND FINAL READING AND ADOPTED AS AMENDED. September 20, 2001 2001 Mayor-Commissioner Attest: City Clerk Approved as to Form and Legal Sufficiency: City Attorney 38 Ordinance No. 6876-01 0 0 E E V E z c W O E d c w ?a s c? 9 a (OUR N 8 ?V (D L o? ?a A U n cc J Q QI N 'n .i °i a N 1` _N N W ? ttpp cq O O tp a ? 0- a 0 0 'O x --N W ri ? rn cv 8 rn y ?) a . p O C t'] E d 'a 0 C o .? a N w g`t Q ?S 8 2 z co Q d c i 01 d ? (n Y N 0 O Z ca Z Q c? t3 F d a a? 0 I7 D/4 C V Q 9' a a 0 m 3 of C1 a 4r, Clearwater City Commission Worksession Item Agenda Cover Memorandum Final Agenda Item # Meeting Date: /0/-//0/ SUBJECT/RECOMMENDATION: Ratify and confirm an increase to the contract with L & S Custom Coaches, Hudson, Florida, from $24,998.00 to $27,998.00 and to approve the requested increase of $3,000.00 from the Police Department's FY 2000/2001 operating budget, ''x and that the appropriate officials be authorized to execute same. SUMMARY: • On May 18, 2000, the City Commission approved the purchase of a Traffic Homicide Vehicle to be utilized by the Police Department for traffic fatality investigations which occur within the City. Purchase order number 699 0000025218 in the amount of $93,100.00, obtained with Lease Purchase funding. • On March 20, 2001, the City Manager approved change order #1 in the amount of $24,998.00, purchase order number 699 0000028271, for the purchase of a 42 foot telescoping mast with a pan and tilt head and a night scan lighting system to be attached to the vehicle. This was purchased out of the Police Department's Special Law Enforcement Trust Fund. • On July 12, 2001, purchase order number 699 0000029330, change order #2, was created for the purchase of a JVC Camera to be utilized in conjunction with the 42 foot telescoping mast, purchased with funding from the Department's operating budget. Since that amount was over that which the City Manager could approve, the Police Department is now seeking to ratify and confirm change order #2. • Funds for this contract increase are available within the Police Department's current operating budget. Reviewed by: Legal N/A Info Srvc N/A Budget Public Work Purchasing DCM/AC Risk Mgmt N/A Other Submitted by: City Manager JU Printed on recycled paper Originating Dept: Costs Police --.S:Z ? Total 3,000 Prepared by: Kelly Sue O'Brien Funding Source: User Dept. Current FY Cl Polic" OP 3 Attachments Other X None I Appropriation Code: 010-01135-564 Rev. 2/98 21 4 .I Clearwater City Commission 1 Agenda Cover Memorandum Work session Item #: Final Agenda Item # Meeting Date: 10/04/01 SUB) ECT/RECOMMEN DATION: Award a contract for JACK RUSSELL STADIUM INFRASTRUCTURE REPAIRS (01-0027-PR) to ALL AMERICAN CONCRETE, INC. of LARGO, FLORIDA in the amount of $198,939.01, which is the lowest responsible bid received in accordance with plans and specifications, and authorize additional funding of $40,000, to be provided by a first quarter budget amendment from the un- appropriated retained earnings of the General Fund, 9 and that the appropriate officials be authorized to execute same. SUMMARY: o In July 2001 the City Commission approved the establishment of a capital improvement project entitled "Jack Russell Stadium Infrastructure Repairs" and initial funding in the amount of $300,000 to address emergency structural repairs needed at the stadium. • Emergency inspections and repairs were authorized and performed at a total cost of $135,926. • The City has now received bids to complete the remainder of the necessary repairs to the stadium before the 2002 spring training season. The lowest responsible bid received was from All American Concrete, Inc. in the amount of $198,939.01, leaving a shortage of $34,865.07 in capital project 315- 93242. A Staff is requesting that the City Commission award the contract for the repairs to All American Concrete, Inc. and approve additional funding of $40,000 to ensure sufficient funding through the completion of the project. 0 Work will commence upon award and execution of the contract and will be completed within 90 days. • A copy of the contract documents is available in the City Clerk's office for review. Funding for the additional $40,000 will be provided by a first quarter budget amendment from the un- appropriated retained earnings of the General Fund. Reviewed by: Originating Dept: Costs $198,939.01 Legal Info Srvc NA Parks & Recreation Total Kevin Dunbar Budget Public Works User Dept. Funding Source: Purchasing DCM/ACM Public Works Current FY Cl Risk Mgmt A Other Attachments OP Other X Submitted by: City Manager ?? I?1? 19 None Appropriation Code: 315-93242-563800.572-000 WPrinted on recvcled naner lack Russell Stadium Infrastructure Renairs Rev. 2198 1 BOND NUMBER: CONTRACT BOND STATE OF FLORIDA COUNTY OF KNOW ALL MEN BY THESE PRESENT'S: That we as principal and (Surety) whose home address is HEREINAFTER CALLED THE "Surety", are held and firmly bound into the City of Clearwater, Florida (hereinafter called the "Owner") in the penal sum of Dollars ($ ) for the payment of which we bind ourselves, our heirs, executors, administrators, successors, and assigns for the faithful performance of a certain written contract, dated the day of 2001 , entered into between the Principal and the City of Clearwater for: a copy of which said contract is incorporated herein by reference and is made a part hereof as if fully -? copied herein. NOW THEREFORE, THE CONDITIONS OF THIS OBLIGATION ARE SUCH, that if the Principal shall in all respects comply with the terms and conditions of said contract, including the one-year guarantee of material and labor, and his obligations thereunder, including the contract documents (which include the Advertisement for Bids, Form of Proposal, Form of Contract, Form of Surety Bond, Instructions to Bidders, General Conditions and Technical Specifications) and the Plans and Specifications therein referred to and made a part thereof, and such alterations as may be made in said Plans and Specifications as therein provided for, and shall indemnify and save harmless the said Owner against and from all costs, expenses, damages, injury or conduct, want of care or skill, negligence or default, including patent infringements on the part of the said Principal agents or employees, in the execution or performance of said contract, including errors in the plans furnished by the Principal, and further, if such "Contractor" or "Contractors" shall promptly make payments to all persons supplying him, them or it, labor, material, and supplies used directly or indirectly by said Contractor, Contractors, Sub-Contractor, or Sub-Contractors, in the prosecution of the work provided for in said Contract, this obligation shall be void, otherwise, the Principal and Surety jointly and severally agree to pay to the Owner any difference between the sum to which the said Principal would be entitled on the completion of the Contract, and that which the Owner may be obliged to pay for the completion of said work by contract or otherwise, & any damages, direct or indirect, or consequential, which said Owner may sustain on account of such work, or on account of the failure of the said Contractor to properly and in all things, keep and execute all the provisions of said contract. CONTRACT BOND (2) And the said Principal and Surety hereby further bind themselves, their successors, executors, administrators, and assigns, jointly and severally, that they will amply and fully protect the said Owner against, and will pay any and all amounts, damages, costs and judgments which may be recovered against or which the Owner may be called upon to pay to any person or corporation by reason of any damages arising from the performance of said work, or of the repair or maintenance thereof, or the manner of doing the same or the neglect of the said Principal or his agents or servants or the improper performance of the said work by the Principal or his agents or servants, or the infringements of any patent rights by reason of the use of any material furnished or work done; as aforesaid, or otherwise. And the said Principal and Surety hereby further bind themselves, their successors, heirs, executors, administrators, and assigns, jointly and severally, to repay the owner any sum which the Owner may be compelled to pay because of any lien for labor material furnished for the work, embraced by said Contract. And the said Surety, for the value received, hereby stipulates and agrees that no change, extension of time, alteration or addition to the terms of the contract or to the work to be performed thereunder or the specifications accompanying the same shall in any way affect its obligations on this bond, and it does hereby waive notice of any such change, extension of time, alteration or addition to the terms of the contract or to the work or to the specifications. IN TESTIMONY WHEREOF, witness the hands and seals of the parties hereto this day of 2001. CONTRACTOR By: ATTEST: WITNESS: COUNTERSIGNED: SURETY By: ATTORNEY-IN-FACT 2 CONTRACT This CONTRACT made and entered into this day of , 2QQI by and between the City of Clearwater, Florida, a municipal corporation, hereinafter designated as the "City", and of the City of County of and State of Florida, hereinafter designated as tic "Contractor". WITNESSETH: That the parties to this contract each in consideration of the undertakings, promises and agreements on the part of the other herein contained, do hereby undertake, promise and agree as follows: The Contractor, and his or its successors, assigns, executors or administrators, in consideration of the sums of money as herein after set forth to be paid by the City and to the Contractor, shall and will at their own cost and expense perform all labor, furnish all materials, tools and equipment for the following: In accordance with such proposal and technical supplemental specifications and such other special provisions and drawings, if any, which will be submitted by the City, together with any advertisement, instructions to bidders, general conditions, proposal and bond, which may be hereto attached, and any drawings if any, which may be herein referred to, are hereby made a part of this contract, and all of said work to be performed and completed by the contractor and its successors and assigns shall be fully completed in a good and workmanlike manner to the satisfaction of the City. If the Contractor should fail to comply with any of the terms, conditions, provisions or stipulations as contained herein within the time specified for completion of the work to be performed by the Contractor, then the City, may at its option, avail itself of any or all remedies provided on its behalf and shall have the right to proceed to complete such work as Contractor is obligated to perform in accordance with the provisions as contained herein. THE CONTRACTOR AND HIS OR ITS SUCCESSORS AND ASSIGNS DOES HEREBY AGREE TO ASSUME THE DEFENSE OF ANY LEGAL ACTION WHICH MAY BE BROUGHT AGAINST THE CITY AS A RESULT OF THE CONTRACTOR'S ACTIVITIES ARISING OUT OF THIS CONTRACT AND FURTHERMORE, IN CONSIDERATION OF THE TERMS, STIPULATIONS AND CONDITIONS AS CONTAINED HEREIN, AGREES TO HOLD THE CITY FREE AND HARMLESS FROM ANY AND ALL CLAIMS FOR DAMAGES, COSTS OF SUITS, JUDGMENTS OR DECREES RESULTING FROM ANY CLAIMS MADE UNDER THIS CONTRACT AGAINST THE CITY OR THE CONTRACTOR OR THE CONTRACTOR'S SUB-CONTRACTORS, AGENTS, SERVANTS OR EMPLOYEES RESULTING - FROM ACTIVITIES BY THE AFOREMENTIONED CONTRACTOR, SUB-CONTRACTOR, AGENT SERVANTS OR EMPLOYEES. 3 CONTRACT (2) In addition to the foregoing provisions, the Contractor agrees to conform to the following requirements: In connection with the performance of work under this contract, the Contractor agrees not to discriminate against any employee or applicant for employment because of race, sex, religion, color, or national origin. The aforesaid provision shall include, but not be limited to, the following: employment, upgrading, demotion, or transfer, recruitment or recruitment advertising; lay-off or termination; rates of pay or other forms of compensation; and selection for training, including apprenticeship. The Contractor agrees to post hereafter in conspicuous places, available for employees or applicants for employment, notices to be provided by the contracting officer setting forth the provisions of the non-discrimination clause. The Contractor further agrees to insert the foregoing provisions in all contracts hereunder, including contracts or agreements with labor unions and/or worker's representatives, except sub-contractors for standard commercial supplies or raw materials. It is mutually agreed between the parties hereto that time is of the essence of this contract, and in the event that the work to be performed by the Contractor is not completed within the time stipulated herein, it is then further agreed that the City may deduct from such sums or compensation as may be due to the Contractor the sum of $1,000.00 per day for each day that the work to be performed by the Contractor remains incomplete beyond the time limit specified herein, which sum of $1,000.00 per day shall only and. solely represent damages which the City has sustained by reason of the failure of the Contractor to complete the work within the time stipulated, it being further agreed that this sum is not to be construed as a penalty but is only to be construed as liquidated damages for failure of the Contractor to complete and perform all work within the time period as specified in this contract. It is further mutually agreed between the City and the Contractor that if, any time after the execution of this contract and the surety bond which is attached hereto for the faithful performance of the terms and conditions as contained herein by the Contractor, that the City shall at any time deem the surety or sureties upon such performance bond to be unsatisfactory or if, for any reason, the said bond ceases to be adequate in amount to cover the performance of the work the Contractor shall, at his or its own expense, within ten (10) days after receipt of written notice from the City to do so, iurmish an additional bond or bonds in such term and amounts and with such surety or sureties as shall be satisfactory to the City. If such an event occurs, no further payment shall be made to the Contractor under the terms and provisions of this contract until such new or additional security bond guaranteeing the faithful performance of the work under the terms hereof shall be completed and furnished to the City in a form satisfactory to it. 4 CONTRACT (3) IN WITNESS WHEREOF, the parties to the agreement have hereunto set their hands and seals and have executed this Agreement, in duplicate, the day and year first above written. CITY OF CLEARWATER IN PINELLAS COUNTY, FLORIDA By: William B. Horne, II City Manager Countersigned: By: Brian J. Aungst, Mayor-Commissioner (Contractor must indicate whether Corporation, Partnership, Company or Individual.) Attest: Cynthia E. Goudeau, City Clerk (Seal) Approved as to form: Jane C. Hayman Assistant City Attorney (Contractor) (The person signuig shall, in his own handwriting, sign the Principal's name, his own name, and his title; where the person is signing for a Corporation, he must, by Affidavit, show his authority to bind the Corporation). By:' (SEAL) 5 CONTRACTOR'S AFFIDAVIT FOR FINAL PAYMENT (CORPORATION FORM) STATE OF FLORIDA COUNTY OF On this day personally appeared before me, the undersigned authority, duly authorized to administer oaths and take acknowledgments, , who after being duly sworn, deposes and says: That he is the (TI'T'LE) of , a Florida Corporation, with its principal place of business located at (herein, the "Contractor"). That the Contractor was the general contractor under a contract executed on the day of , 2001, with the CITY OF CLEARWATER, FLORIDA, a municipal corporation, as Owner, and that the Contractor was to perform the construction of That said work has now been completed and the Contractor has paid and discharged all sub-contractors, laborers and material men in connection with said work and there are no liens outstanding of any nature nor any debts or obligations that might become a lien or encumbrance in connection with said work against the described property. That he is making this affidavit pursuant to the requirements of Chapter 713, Florida Statutes, and upon consideration of the payment of (Final Full Amount of Contract) in full satisfaction and discharge of said contract. That the Owner is hereby released from any claim which might arise out of said Contract. The word "liens" as used in this affidavit shall mean any and all arising under the operation of the Florida Mechanic's Lien Law as set forth in Chapter 713, Florida Statutes. Sworn and subscribed to before me This day of , 2001 . BY: NOTARY PUBLIC My Commission Expires: PRESIDENT 6 PROPOSAL BOND (Not to be filled out if a certified check is submitted) KNOWN ALL MEN BY THESE PRESENTS: That we, the undersigned, as Principal, and as Surety, are held and firmly bound unto the City of Clearwater, Florida, in the sum of Dollars ($ ) (being a minimum of 10% of Contractor's total bid amount) for the payment of which, well and truly to be made, we hereby jointly and severally bind ourselves, our heirs, executors, administrators, successors and assigns. The condition of the above obligation is such that if the attached Proposal of as Principal, and as Surety, for work specified as: all as stipulated in said Proposal, by doing all work incidental thereto, in accordance with the plans and specifications provided herefor, all within Pinellas County, is accepted and the contract awarded to the above named bidder, and the said bidder shall within ten days after notice of said award enter into a contract, in writing, and furnish the required Performance Bond with surety or sureties to be approved by the City Manager, this obligation shall be void, otherwise the same shall be in full force and virtue by law and the full amount of this Proposal Bond will be paid to the City as stipulated or liquidated damages. Signed this day of , 2001. (Principal must indicate whether corporation, partnership, company or individual) The person signing shall, in his own handwriting, sign the Principal's name, his own name and his title; the person signing for a corporation must, by affidavit, show his authority to bind the corporation. Principal By: Title Surety 7 AFFIDAVIT (To be filled in and executed if the bidder is a corporation) STATE OF FLORIDA . ) COUNTY OF ) being duly sworn, deposes and says that he/she is Secretary of a corporation organized and existing under and by virtue of the laws of the State of Florida, and having its principal office at: Street & Number City County State Affiant further says that he is familiar with the records, minute books and by-laws of (Name, of Corporation) Atliant further says that is (Officer's Name) (Title) of the corporation, is duly authorized to sign the Proposal for for said corporation by virtue of (state whether a provision of by laws or a Resolution of the Board of Directors. If by Resolution give date of adoption). Affiant Sworn to before me this day of )2001. Notary Public Type/print/stamp name of Notary Title or rank, and Serial No., if any 8 NON-COLLUSION AFFIDAVIT STATE OF FLORIDA ) COUNTY OF being, first duly sworn, deposes and says that he is of the party making the foregoing Proposal or Bid; that such Bid is genuine and not collusive or sham: that said bidder is not financially interested in or otherwise affiliated in a business way with any other bidder on the same contract; that said bidder has not colluded, conspired, connived, or agreed, directly or indirectly, with any bidders or person, to put in a sham bid or that such other person shall refrain from bidding, and has not in any manner, directly or indirectly, sought by agreement or collusion, or communication or conference, with any person, to fix the bid price or affiant or any other bidder, or to fix any overhead, profit or cost element of said bid price, or that of any other bidder, or to secure any advantage against the City of Clearwater, Florida, or any person or persons interested in the proposed contract; and that all statements contained in said proposal or bid are true; and further, that such bidder has not directly or indirectly submitted this bid, or the contents thereof, or divulged information or data relative thereto to any association or to any member or agent thereof. Affiant Sworn to and subscribed before me this day of , 2001. Notary Public 9 PROPOSAL (1) TO THE CM OF CLEARWATER, FLORIDA, for and doing such other work incidental thereto, all in accordance with the contract documents, marked Every bidder must take notice of the fact that even though his proposal be accepted and the documents signed by the bidder to whom an award is made and by those officials authorized to do so on behalf of the City of Clearwater, Florida, that no such award or signing shall be considered a binding contract without a certificate from the Finance Director that funds are available to cover the cost of the work to be done, or without the approval of the City Attorney as to the form and legality of the contract and all the pertinent documents relating thereto having been approved by said City Attorney; and such bidder is hereby charged with this notice. The signer of the Proposal, as bidder, also declares that the only person, persons, company or parties interested in this Proposal, are named in this Proposal, that he has carefully examined the Advertisement, Instructions to Bidders, Contract Specifications, Plans, Supplemental Specifications, General Conditions, Special Provisions, and Contract Bond, that he or his representative has made such investigation as is necessary to determine the character and extent of the work and he proposes and agrees that if the Proposal be accepted, he will contract with the City of Clearwater, Florida, in the form of contract; hereto annexed, to provide the necessary labor, materials, machinery, equipment, tools or apparatus, do all the work required to complete the contract within the time mentioned in the General Conditions and according to the requirements of the City of Clearwater, Florida, as herein and hereinafter set forth, and furnish the required surety bonds for the following prices to wit: 10 PROPOSAL (2) If the foregoing Proposal shall be accepted by the City of Clearwater, Florida, and the undersigned shall fail to execute a satisfactory contract as stated in the Advertisement herein attached, then the City may, at its option determine that the undersigned has abandoned the contract, and thereupon this Proposal shall be null and void, and the certified check or bond accompanying this Proposal, shall be forfeited to become the property of the City of Clearwater, Florida, and the full amount of said check shall be retained by the City, or if the Proposal Bond be given, the full amount of such bond shall be paid to the City as stipulated or liquidated damages; otherwise, the bond or certified check accompanying this Proposal, or the amount of said check, shall be returned to the undersigned as specified herein. Attached hereto is a bond or certified check on Bank, for the sum of (being a minimum of 10% of Contractor's total bid amount). The full names and residences of all persons and parties interested in the foregoing bid are as follows: (If corporation, give the names and addresses of the President and Secretary. If firm or partnership, the names and addresses of the members or partners. The Bidder shall list not only his name but also the -? name of any person with whom bidder has any type of agreement whereby such person's improvements, enrichment, employment or possible benefit, whether sub-contractor, materialman, agent, supplier, or employer is contingent upon the award of the contract to the bidder). NAMES: ADDRESSES: Signature of Bidder: (The bidder must indicate whether Corporation, Partnership, Company or Individual). 11 PROPOSAL (3) The person signing shall, in his own handwriting, sign the Principal's name, his own name and his title. Where the person signing for a corporation is other than the President or Vice-President, he must, by affidavit, show his authority, to bind the corporation. By: Title: Business Address of Bidder: City and State: Zip Code Dated at this day of , A.D., 2001 12 PROJECT: CITY OF CLEARWATER ADDENDUM SHEET Acknowledgment is hereby made of the following addenda received since issuance of Plans and Specifications. Addendum No. Date: Addendum No. Date: Addendum No. Date: Addendum No. Date: Addendum No. Date: Addendum No. Date: Addendum No. Date: Addendum No. Date: Addendum No. Date: Addendum No. Date: Addendum No. Date: (Name of Bidder) (Signature of Officer) (Title of Officer) (Date) ! M 13 PROJECT: JACK RUSSELL STADIUM INFRASTRUCTURE REPAIRS (MODIFIED) 801 PEIILLIES DRIVE, CLEARWATER, FL. (01-0027-PR) ITEM EST. NO. DESCRIPTION UNIT QTY. UNIT PRICE TOTAL 1. :STRUCTURAL CONSOLIDATION & : L.S.: 1 :REPAIRS (INCLUDE HORIZONTAL :SEALS BETWEEN CONCR. PLANKS) : 2. :REMOVE & DISPOSE OF UNSUITAB.: C.Y.: 80 :MATERIAL (TRUCK MEASURE) 3. :PROVIDE & PLACE COMPACTED : C.Y.: 100 :CLEAN FILL MATERIAL. (TRUCK :MEASURE) 4. :BACKFILL WITH FDOT QUICKSET : C.Y.: 10 :CONCRETE FLOWABLE FILL :(TRUCK MEASURE) 5. :INJECT WALL CRACKS & RESTORE : GL. 10 :LINTEL BEARING AREAS BY USING :EPOXY GEL 6. :PROVIDE CORE SAMPLES OF :EA. 4 :INJECTED CRACKS AND REPAIRED :AREAS 7. :ALLOWANCE FOR TWO (2) SPT : L.S.: 1 :BORINGS & SOIL INVESTIGATION :REPORT 8. :PREPARATION, INSTALLATION : L.S.: 1 :AND MANAGEMENT OF PROJECT :SIGN(S) SUB-TOTAL $ 9. :10% CONTINGENCY : L.S. : 14 i i PROJECT: JACK RUSSELL STADIUM INFRASTRUCTURE REPAIRS (MODIFIED) 801 PHILLIES DRIVE, CLEARWATER, FL. (01-0027-PR). ITEM EST. NO. DESCRIPTION UNIT OTY. UNIT PRICE TOTAL CONTRACTOR: BIDDER'S TOTAL PLUS CONTINGENCY: (NUMBERS) BIDDER'S TOTAL PLUS CONTINGENCY: (WORDS) THE BIDDER'S TOTAL ABOVE IS HIS TOTAL BID BASED ON HIS UNIT PRICES AND LUMP SUM PRICES AND THE ESTR%4ATED QUANTITIES REQUIRED. THIS FIGURE IS FOR INFORMATION ONLY AT THE TIME OF OPENING BIDS. THE CITY WILL MAKE THE TABULATION FROM THE UNIT PRICES AND LUMP SUM PRICE BID. IF THERE IS AN ERROR IN THE TOTAL BY THE BIDDER, IT SMALL BE CHANGED AS ONLY THE UNIT PRICES AND LUMP SUM PRICE SHALL GOVERN. - 14a - Clearwater city commission ,?. Agenda Cover Memorandum Worksession Item Pt: Final Agenda Item # Meeting Date: SUBJECT"/RECOMMENDATION: IO D/ Ratify and confirm City Manager's approval of the Second Amendment of Concession Management Agreement between Global Spectrum (Globe), Boston Concession Group, Inc. (Boston) and the City of Clearwater, ? and that the appropriate officials be authorized to execute same. SUMMARY: Global Spectrum provides Management Services to the Harborview Center. Boston Concession Group, Inc. is the current provider of food and beverage services at the Harborview Center through a contract between Global Spectrum, Boston Concession Group, Inc. and the City of Clearwater. The contract period is April 16, 1996 through September 30, 2001. The parties seek to extend this Agreement by entering into a Second Amendment that extends the contract period for one year to September 30, 2002. By extending the contract period for the food and beverage services, the City effectively achieves concurrent contract periods with both Globe and Boston, thereby ensuring consistent services until such a time as both contracts may be renegotiated prior to the September 30, 2002 expirations. • Globe's fees are budgeted and in place for FY 2001/02. Boston's services are paid through Globe's management of the Center and will not cause an increase in City expenses for the additional year extension. A copy of the agreement is available for review in the.City Clerk Dept. Reviewed by- Originating Dept.: K. Dunbar Costs Legal Info 5rvc NA Parks and Recreation Total -0- Budget NA Public Works NA User Dept.: Funding Source: Purchasing NA DCWACM Parks and Recreation Current FY -0- CI Risk Mgmt NA Other Attachments OP Other Submitted by: O City Manager AA A4UW-A-- C7 None Appropriation Code: Prin4ari nn rirvrled naner SECOND AMENDME _... T TO CONCESSION MANAGEME?r-.- AGREEMENT FOR THE -U, ' 2 CITY OF CLEARWATER HARBORVIEW CENTER , , PKI This second amendment is entered into 2001, between Global Spectrum (Globe), Boston Concession Group, Inc. (Operator) and the City of Clearwater (City). Whereas, Globe, Operator and City enter into an agreement to manage the food and beverage service for the Harborview Center on April 16, 1996 through September 30, 2001. Whereas, Globe, Operator and City desire to extend said agreement for one additional year. NOW, THEREFORE THE PARTIES AGREE AS FOLLOWS. 1. Section IV A. Term is amended to extend the term of the Concession Management Agreement for the City of Clearwater Harborview Center through September 30, 2002. 2. All other terms and conditions remain the same. IN WITNESS WHEREOF, the parties have executed this agreement as of the date set forth above. GLOBE FACILITIES LIMITED PARTNERSHIP d/b/a GLOBAL SPECTRUM By: Print Name: Title: BOSTON CONCESSION GROUP, INC. By: Approved as to form: Print Name: Title: CITY OF CLEARWATER, FLORIDA By: William B. Horne 11 City Manager Attest: John Carassas Cynthia E. Goudeau Assistant City Attorney City Clerk Agenda: (10/04/01) Item #21 q,5(o Clearwater City Work session Item #: gT1 V .? Commission Final Agenda Itern # Agenda Cover Meeting Date: 10/4/01 Memorandum SUBJECT/RECOMMENDATION: Award a contract to McKim & Creed, P.A., Clearwater, FL in the arnount of $198,000,00 for the design, programming, and construction inspection services for the Water Pollution Control (WPC) Supervisory Control and Data Acquisition (SCADA) System Improvements, 0 and that the appropriate officials be authorized to execute some. SUMMARY: This project provides for the planning, design, software, computer integration and Programmable Logic Controller (PLC) programming to upgrade the present SCADA system for the three-wastewater treatment facilities to today's technology, This project will result in a modernized SCADA system, linking the three wastewater treatment facilities and Public Utilities into a network for monitoring of plant processes as well as a detailed data collection and regulatory reporting system. The benefits from the SCADA system upgrade will include improved record keeping, faster response time to emergencies and permit compliance issues, and a significant improvement in plant process tracking resulting in effluent water quality improvements. • McKim & Creed designed the original SCADA and computer systems used at all three wastewater treatment plants. They also designed the SCADA system additions currently under construction at the Northeast Plant. As the SCADA systems will be linked to the plant computer systems, McKim & Creed was chosen due to their extensive background and knowledge of the existing SCADA and computer systems. McKim & Creed is a City Engineer of Record. • The project schedule includes the design starting October 2001, construction starting in July 2002 and completion in February 2003. • Resolution 01-07 was passed on March 1, 2001, establishing the City's intent to reimburse certain project costs incurred with future tax-exempt financing. The projects identified with 2001 revenue bonds as a funding source were included in the project list associated with Resolution 01-07. • Sufficient budget is available in project 343-96685, WPC Master Plan Phase ill, Reviewed by: Legal _ L ? C?- Budget Public Works Purchasing DCM/ACM Risk Mgmt *NA Other A Submitted by: City Manager M.111XV. Adh 014 Printed nn racvcled saner Originating Dept.: Public Works Admin. User Dept. Public Utilities (Milligan) Attachments 0 None Costs Total Current FY $198,000 Funding Source: cl X OP Other Appropriation Code: 343-9668 5-561300-535-0 DO SCAnA Svstem lmnrevements Rev_ 2198 Info Srvc N/A t ^,e : .2cz 0 't } aromtaer ONE CITY. ONE FUTURE. City Attorney's Office Memorandum TO: The Honorable Mayor and Members of the City Commission FROM: Pamela K. Akin Attorney RE: City v. Florida Power Corporation, Inc., Case No. 01-6480-SC-NPC DATE: September 27, 2001 Please authorize our office, after the fact, to bring a civil action for damages against the following: Florida Power Corporation 1 Progress Plaza, Suite 15-B St. Petersburg, Florida On September 27, 1997, Florida Power did not use adequate methods to determine the location of underground gas facilities while performing work in the area of Walsingham Road, east of Indian Rocks Beach, thereby causing damage to City's gas main, allowing natural gas to escape. The resulting loss amounted to $1,462.52. . The City filed a lawsuit in Small Claims court on September 21, 2001, to protect the interest of the City because the Statute of Limitations would have run on the same date. I have attached a copy of the complaint for your information. This lawsuit was instituted at the request of the Risk Management Department after settlement negotiations with Florida Power reached an impasse.. The request was received approximately two days before the Statute of Limitations would have run. PRH:d Attachment Ma - 3 L 1 6 1 Clearwater City Commission O. Agenda Cover Memorandum Worksession Item #: Final Agenda Item # Meeting Date: SUBJECT/RECOMMENDATION: Approve revised design of the new Main Library. 6? q 16/4 /01 (E and that the appropriate officials be authorized to execute same. SUMMARY: On September 20, 2001, Robert A.M. Stern, design architect for the new Main Library, presented the revised design for the project. The revised design addressed concerns expressed by the Commission at a special worksession on July 11, 2001. The following is a list of the major concerns and how they were addressed: • Significant distance from the front entrance to the elevators on the north end of the building; accessibility concerns for those in wheelchairs, parents with strollers, etc. An elevator near the main entrance was added. • Lack of visual interest for pedestrians along the first floor Osceola Avenue fagade. Wall space for exhibiting art has been placed opposite windows in the long hallway east of the meeting rooms. The pre-function area was moved north and will become a small gallery space; a window has been placed at the end of this gallery and will allow pedestrians to view the gallery and the cafe: • Difficulty in dropping patrons off. A drive-up patron drop-off and a set of south-facing entrance doors were added. • Moving the computer lab to the third floor and the young adult area to the second floor for functional reasons. The spaces were moved. Staff recommends approval. Reviewed by: l f S Originating Dept: / ib h IA- Costs Lega o rvc X X In rary L jo n Szabo ) Total Budget x Public Works User Dept. Funding Source: ` Purchasing X DCM/ACM Library Current FY Cl Risk Mgmt X Other X Attachments OP Other Submitted by: _ City Manager &V 444,1oA ? None Appropriation Code: Printed on recvrted saner ePw_ 71011 ye FN I Clearwater City Commission worksession Item #: Agenda Cover Memorandum Final Agenda Item # Meeting Date: 10/4/01 SUBJECT/RECOMMENDATION: Adopt Resolution 01-36 providing for the sale of not to exceed $12 million Improvement Revenue Refunding Bonds, Series 2001, 0 and that the appropriate officials be authorized to execute same. SUMMARY: • Improvement Revenue Refunding Bonds, Series 2001, in an amount not to exceed $12 million will be used to refinance the outstanding portion of the Series 1985 Public Service Tax and Bridge Revenue Bonds and the outstanding portion of the Series 1995 Improvement Revenue Bonds at a present value savings of approximately 4% of the outstanding par value of the bonds. The bonds will not be refunded if adequate savings as well as other requirements are not going to be realized. • The 1985 bonds were originally issued in an amount of $7,155,000. Since that time, all but $415,000 has been retired. The interest rate on these bonds is 9.125%. • The 1995 bonds were originally issued in an amount of $10,720,000. Since that time, $950,000 has been retired, leaving an outstanding balance of $9,770,000. The interest rate on these bonds ranges from 5.1 % - 6%. • Market conditions are such that the 1985 and 1995 bonds can be refunded at a present value savings of approximately $400,000. • The firm of William R. Hough & Co. was selected to be senior managing underwriter due to work previously performed on this refunding. The firm of Salomon Smith Barney has been selected as co- manager since they were the low bidder on the City's last competitively bid bonds. The 2001 bonds will be sold through negotiated public sale. • This resolution authorizes the City Manager and Finance Director to award the sale of the bonds and to determine if it is in the best interest of the City to purchase a debt service surety bond or to fund a debt service reserve. • The complete resolution is available in the City Clerk Department. Reviewed by Originating Dept: M. Simmons Costs Legal Info Srvc N/A :IL4 Finance ,M A;_m yr,....-- Total Budget N/A Public Works ser Dept. Funding Source: Purchasing N/A DCM/ACM Current FY Cl Risk Mgmt N/A Other Attachments OP Resolution 01-36 Other Submitted by: Q None City Manager Appropriation Code: Printed on reeveled naner anv 7102 /,e? 4N 1 5Q,. a5 RESOLUTION NO. 01-36 A RESOLUTION AUTHORIZING THE NEGOTIATED SALE OF NOT TO EXCEED $12,000,000 CITY OF CLEARWATER, FLORIDA, IMPROVEMENT REVENUE BONDS, SERIES 2001; AWARDING THE SALE THEREOF TO WILLIAM R. HOUGH & CO. ON BEHALF OF ITSELF AND THE CO- MANAGER SELECTED BY THE CITY, SUBJECT TO THE TERMS AND CONDITIONS OF A PURCHASE CONTRACT; PROVIDING FOR THE ISSUANCE OF THE SERIES 2001 BONDS IN BOOK-ENTRY-ONLY FORM; AUTHORIZING THE DISTRIBUTION OF A PRELIMINARY OFFICIAL STATEMENT AND AN OFFICIAL STATEMENT IN CONNECTION WITH THE DELIVERY OF THE BONDS; PROVIDING FOR COMPLIANCE WITH A CONTINUING DISCLOSURE CERTIFICATE; APPOINTING A PAYING AGENT AND REGISTRAR; PROVIDING FOR, AN ESCROW DEPOSIT AGREEMENT AND APPOINTING AN ESCROW AGENT; AUTHORIZING THE PURCHASE OF MUNICIPAL BOND INSURANCE; PROVIDING CERTAIN OTHER MATTERS IN CONNECTION WITH THE ISSUANCE AND DELIVERY OF SUCH BONDS; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, on October 4, 2001, the City Commission of the City of Clearwater, Florida (the "City" or the "Issuer") enacted Ordinance No. 6876-01 (the "Bond Ordinance") to provide for the issuance of Improvement Revenue Bonds, Series [to be determined] (the "Series 2001 Bonds") payable from City's Public Service Tax (as defined in the Bond Ordinance); and WHEREAS, the City has presently outstanding its Public Service Tax and Bridge Revenue Bonds, Series 1985 and its Improvement Revenue Bonds, Series 1995 (collectively, the "Refunded Bonds"), and enacted through this Resolution intends on issuing its Series 2001 Bonds to refund the outstanding principal amount of the Refunded Bonds; and WHEREAS, it is in the best interest of the City to provide for the negotiated sale of not to exceed $12,000,000 of Series 2001 Bonds; and WHEREAS, the Issuer intends on negotiating a sale of the Series 2001 Bonds with William R. Hough & Co. on behalf of itself and as representative of the co-manager Salomon Smith Barney, Inc. (collectively, the "Underwriters") subject to the terms and conditions contained herein and set forth in a Purchase Contract, a copy of which is attached hereto as Exhibit "A" (the "Purchase Contract") and authorizing its Mayor-Commissioner, or in his absence the Vice Mayor, and City Res. No. 01-36 Manager to execute such Purchase Contract upon the approval of the terms thereof by the City Manager and City Financial Services Administrator; and WHEREAS, the Issuer now desires to approve the issuance of its Series 2001 Bonds, to sell its Series 2001 Bonds pursuant to the Purchase Contract, to authorize the distribution of a Prelimi- nary Official Statement and an Official Statement in connection with the issuance of the Series 2001 Bonds and to take certain other actions in connection with the issuance and sale of the Series 2001 Bonds; and WHEREAS, the Issuer will be provided all applicable disclosure information by the Underwriters as required by Section 218.38. Florida Statutes, prior to the execution of the Purchase Contract, a copy of which disclosure is to be attached to the Purchase Contract; and WHEREAS, this resolution shall constitute a supplemental resolution under the terms of the Bond Ordinance, and all capitalized undefined terms used herein shall have the meanings set forth in the Bond Ordinance; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF CLEARWATER, FLORIDA: SECTION 1. The initial series of the Improvement Revenue Bonds, Series [to be determined] authorized by the Bond Ordinance are hereby authorized to be issued in a principal amount of not to exceed $12,000,000 pursuant to this resolution, with such bonds hereby designated as Series 2001 Bonds (the "Series 2001 Bonds"). The issuance of not to exceed $12,000,000 of the Series 2001 Bonds by the City is hereby approved upon the terms and conditions set forth in the Bond Ordinance and this Resolution. SECTION 2. It is in the best interest of the Issuer and the residents and inhabitants thereof that the Series 2001 Bonds be issued utilizing a pure book-entry system of registration. For so long as the Series 2001 Bonds remain in such book entry only system of registration, in the event of a conflict between the provisions of the Bond Ordinance and the provisions of the Blanket Letter of Representations between the City and Depository Trust Company as previously executed and delivered, the terms and provisions of the Blanket Letter of Representations shall prevail. SECTION 3. (a) Due to the willingness of the Underwriters to purchase not to exceed $12,000,000 in aggregate principal amount of the Series 2001 Bonds at favorable interest costs and the importance of timing in the marketing of such obligations, it is hereby determined that it is in the best interest of the public and the Issuer to sell the Series 2001 Bonds at a negotiated sale and such sale to the Underwriters pursuant to the terms and conditions contained in the Purchase Contract and herein is hereby authorized and approved, subject to the satisfaction of the conditions set forth in Section 3(b) below. Res. No. 01-36 I (b) The Financial Services Administrator is hereby authorized to receive the offer to purchase the Series 2001 Bonds from the Underwriters in the form of an executed Purchase Contract in the form approved herein. The City ivlanauer and the Financial Services Administrator are hereby authorized to award the sale of the Series 2001 Bonds on their determination that the offer submitted by the Underwriters for the purchase of all of the Series 2001 Bonds are within the following parameters: (1) in the case of the Series 2001 Bonds, the true interest cost rate shall not exceed 5.5%, (2) the refunding of the Refunded Bonds to be refunded by the Series 2001 Bonds shall provide the City with a net present value savings of not less than 4.0% of the par amount of such Refunded Bonds with an Underwriters' Discount not in excess of $7.50 per $1,000 principal amount thereof, and (3) the actual principal amount of Series 2001 Bonds shall be limited to the lesser of $12,000,000 or the actual sum of the amounts required to (i) pay the cost of issuance of the Series 2001 Bonds, (ii) pay the premium on the Municipal Bond Insurance Policy, (iii) pay the costs of any deposit to the Reserve Fund or the premium or any debt service reserve fund surety policy or similar instrument, if any, and (iv) retire the Refunded Bonds in full on the date as shall be determined by the City Manager and the Financial Services Administrator to be in the best interest of the City, including any premium and accrued interest thereon to the date of redemption. The City Manager and the Financial Services Administrator are hereby authorized to award the sale of the Series 2001 Bonds as set forth above or to reject the offer from the Underwriters for the Series 2001 Bonds. Such award shall be final. The acceptance of the offer to purchase the Series 2001 Bonds, to the extent a portion of the proceeds thereof are used to refund the Refunded Bonds shall constitute a decision to refund the Refunded Bonds in accordance with the Bond Ordinance. SECTION 4. The Series 2001 Bonds shall be sold to the Underwriters, upon the terms and conditions set forth in the Purchase Contract attached hereto as Exhibit "A" and incorporated by reference, upon the satisfaction of the conditions set forth in Section 3(b) hereof. The Mayor- Commissioner, or in his absence the Vice Mayor, the City Manager and the City Clerk are hereby authorized to execute such Purchase Contract in substantially the form attached as Exhibit "A" upon the approval of the City Attorney as to form and legal sufficiency, with such additional changes, insertions and omissions therein as do not change the substance thereof and as may be approved by the said officers of the Issuer executing the same, such execution to be conclusive evidence of such approval. SECTION 5. The Series 2001 Bonds shall be dated, shall bear interest payable at the times, shall mature and shall be subject to redemption as provided in the Purchase Contract. The use of the proceeds of the Series 2001 Bonds, shall be as provided in the Official Statement relating to the Series 2001 Bonds. SECTION 6. The Series 2001 Bonds shall be issued under and secured by the Bond Ordinance and shall be executed and delivered by the Mayor-Commissioner, the City Manager and the City Clerk upon the approval of the City Attorney as to form and legal sufficiency, in substantially the form set forth in the Bond Ordinance, with such additional changes and insertions Res. No. 01-36 3 therein as conform to the provisions of the Purchase Contract and such execution and delivery shall be conclusive evidence of the approval thereof by such officers. SECTION 7. The Financial Services Administrator is hereby authorized to solicit offers from financial institutions to serve as Paying Agent and Registrar for the Series 2001 Bonds, and the Financial Services Administrator is hereby authorized to select the firm with the lowest bid to serve in such capacity. SECTION 8. The form of Escrow Deposit Agreement to be used in connection with the refunding and redemption of the Refunded Bonds attached hereto as Exhibit "D" and incorporated herein by reference is hereby approved. The Mayor-Commissioner, or in his absence the Vice Mayor, the City Manager and the City Clerk are hereby authorized to execute such Escrow Deposit Agreement in substantially the form attached as Exhibit "D" upon the approval of the City Attorney as to form and legal sufficiency, with such additional changes, insertions and omissions therein as do not change the substance thereof and as may be approved by the said officers of the Issuer executing the same, such execution to be conclusive evidence of such approval. The Financial Services Administrator is hereby authorized to solicit offers from financial institutions to serve as Escrow Agent under the Escrow Deposit Agreement for the Series 2001 Bonds, and the Financial Services Administrator is hereby authorized to select the firm with the lowest bid to serve in such- capacity. SECTION 9. On the date of issuance of the Series 2001. Bonds, the Issuer may transfer the funds on hand in the various fiends and accounts established for the Refunded Bonds in such manner as may be approved by a certificate of the Financial Services Administrator executed prior to or simultaneously with the issuance of the Series 2001 Bonds. SECTION 10. The distribution by the Underwriters of the Preliminary Official Statement is hereby approved, confirmed and ratified. The distribution of a final Official Statement of the Issuer relating to the issuance of the Series 2001 Bonds is hereby approved, such final Official State- ment to be in substantially the form attached hereto as Exhibit "B", with such additional changes, insertions and omissions as may be made and approved by officers of the Issuer executing the same, such execution to be conclusive evidence of any such approval. The Mayor-Commissioner, or in his absence the Vice Mayor, and the City Manager are hereby authorized to execute such Official Statement in substantially the form attached hereto as Exhibit "B". The execution of such Official Statement by such officers is hereby approved with such additional changes, insertions and omissions as may be made and approved by such officers. For purposes of Rule 15c2-12 of the United States Securities mid Exchange Commission (the "Rule"), the Preliminary Official Statement in the form attached hereto as Exhibit "B" is hereby deemed "final". . SECTION 11. The City hereby covenants and agrees that, in order to provide for compliance by the City with the secondary market disclosure requirements of the Rule, that it will comply with Res. No. 01-36 4 and carry out all of the provisions of that certain Continuing Disclosure Certificate in substantially the form attached hereto as Exhibit "C", to be executed by the City and dated the date of issuance and delivery of the Series 2001 Bonds, as it may be amended from time to time in accordance with the terms thereof (the "Continuing Disclosure Certificate"). Notwithstanding any other provision of this Resolution, failure of the City to comply with such Continuing Disclosure Certificate shall not be considered an event of default; however, any holder of Series 2001 Bonds may take such actions as may be necessary and appropriate, including seeking mandate or specific performance by court order, to cause the City to comply with its obligations under this Section and the Continuing Disclosure Certificate. The Mayor-Commissioner, or in his absence the Vice Mayor, the City Manager and the City Clerk are hereby authorized to execute such Continuing Disclosure Certificate upon the approval of the City Attorney as to form and legal sufficiency, in substantially the form attached as Exhibit "C", with such additional changes, insertions and omissions therein as do not change the substance thereof and as may be approved by the said officers of the Issuer executing the same, such execution to be conclusive e,,,-idence of such approval. SECTION 12. (a) The City Manager and the Financial Services Administrator are hereby authorized to solicit offers from municipal bond insurance firms to provide municipal bond insurance (the "Municipal Bond Insurance Policy") for the Series 2001 Bonds to irrevocably guarantee the payment of principal and interest on the Series 2001 Bonds. The purchase of such Municipal Bond Insurance Policy is hereby authorized, and payment for such Municipal Bond Insurance Policy from proceeds of the Series 2001 Bonds is hereby authorized. The City, by subsequent resolution, shall accept the terms, conditions and agreements relating to the Municipal Bond Insurance Policy in accordance with the Commitment for Municipal Bond Insurance received by the Financial Services Administrator. A statement of insurance is hereby authorized to be printed on or attached to the Series 2001 Bonds for the benefit and information of the holders of the Series 2001 Bonds. (b) In addition to the covenants and agreements of the City previously contained in the Bond Ordinance regarding the rights of the provider of the Municipal Bond Insurance Policy (the "Bond Insurer"), the City hereby covenants and agrees for the benefit of the Bond Insurer and the holders of the Series 2001 Bonds while the Municipal Bond Insurance Policy insuring the Series 2001 Bonds is in full force and effect, to provide the Bond Insurer with copies of any notices to be given to any party pursuant to the Bond Ordinance, and to provide prior notice to the Bond Insurer of any amendments to the Bond Ordinance. (c) The City Manager and Financial Services Administrator are hereby authorized and directed to determine, with input from the City's financial advisor, whether the purchase of a debt service reserve fund surety policy or bond or similar instrument (a "Reserve Surety") would be in the best interest of the City rather than funding any increase in the debt service reserve fund for the Series 2001 Bonds with proceeds of the Series 2001 Bonds or other legally available funds of the City. In the event the City Manager and the Financial Services Administrator determine that it would be in the best interest of the City to purchase a Reserve Surety, they shall select the Reserve Res. No. 01-36 5 Surety offered by the lowest bidder whose Reserve Surety is in a form acceptable to the Bond Insurer. The determination of the City Manager and Financial Services Administrator shall be final. In the event the City Manager and Financial Services Administrator determine to use a Reserve Surety, then the City by subsequent resolution shall include the provisions set forth in the commitment for such Reserve Surety, including, but not limited to, a financial guaranty or similar instrument, and the Mayor-Commissioner, or in his absence the Vice Mayor, and City Manager are authorized to execute and the Clerk is authorized to attest upon the approval thereof as to from and legal sufficiency by the City Attorney, a financial guaranty agreement or similar agreement, with such changes, insertions and omissions as may be approved by such officers. For purposes hereof, the Reserve Requirement (as defined in the Bond Ordinance) for the Series 2001 Bonds shall be the amount equal to the lesser of (i) the Maximwn Bond Service Requirement of the Series 2001 Bonds, (ii) 125% of the average annual Bond Service Requirement of the Series 2001 Bonds, or (iii) 10% of the net proceeds of the Series 2001 Bonds. SECTION 13. All prior resolutions of the Issuer inconsistent with the provisions of this resolution are hereby modified, supplemented and amended to conform with the provisions herein contained and except as otherwise modified, supplemented and amended hereby shall remain in full . force and effect. SECTION 14. The Mayor-Commissioner, or in his absence the Vice Mayor, the City Manager, the Financial Services Administrator, the City Attorney and the City Clerk or any other appropriate officers of the Issuer are hereby authorized and directed to execute any and. all certifications or other instruments or documents required by the Resolution, the Purchase Contract, the Escrow Deposit Agreement or any other document referred to above as a prerequisite or pre- condition to the issuance of the Series 2001 Bonds and any such representation made therein shall be deemed to be made on behalf of the Issuer. In the event both the Mayor-Commissioner and the Vice Mayor are unable to execute the documents related to the Series 2001 Bonds, then any other member of the City Commission shall be authorized to execute such documents with the full force and effect as if the Mayor-Commissioner or the Vice Mayor had executed same. All action taken to date by the officers of the Issuer in furtherance of the issuance of the Series 2001 Bonds is hereby approved, confirmed and ratified. SECTION 15. This resolution shall become effective .immediately upon its adoption. Passed and adopted by the City Commission of the City of Clearwater, Florida, this day of- 72001. (SEAL) AT'T'EST: By: Mayor-Commissioner Res. No. Q 1-36 6 EXHIBIT B PRELIMINARY OFFICIAL STATEMENT Res. No. 01-36 EXHIBIT D FORM OF ESCROW DEPOSIT AGREEMENT Res. No. 0 t -3 6 EXHIBIT A PURCHASE CONTRACT Res. No. 01-36 CITY OF CLEARWATER, FLORIDA $12,000,000 Improvement Revenue Refunding Bonds Series 2001 BOND PURCHASE CONTRACT [Sale Date] City Commission of the City of Clearwater, Florida Clearwater, Florida Dear Commission Members: William R. Hough & Co. (the "Senior Manager"), on behalf of itself and Salomon Smith Barney, Inc. (collectively with the Senior Manager, the "Underwriters") offers to enter into the following agreement with you (the "City") which, upon your acceptance of this offer, will be binding upon the City and upon the Underwriters. This offer is made subject to your acceptance on or before 11:59 p.m., E.D.T., on the date hereof, and if not so accepted, will be subject to withdrawal by the Underwriters upon notice to the City at any time prior to the acceptance hereof by you. All capitalized terms not otherwise defined herein shall have the meanings set forth in the Official Statement (as hereinafter defined). 1. Purchase and Sale. Upon the terms and conditions and upon the basis of the representations, warranties and agreements set forth herein, the Underwriters hereby agree to purchase from the City for offering to the public and the City hereby agrees to sell and deliver to the Underwriters for such purpose, all (but not less than all) of the City's $12,000,000 Improvement Revenue Refunding Bonds, Series 2001 (the Series 2001 Bonds"). The Series 2001 Bonds shall be dated as of [Sale Date], shall be issued in such principal amounts and bear such rates of interest as set forth in Exhibit A attached hereto. Interest on the Series 2001 Bonds shall be payable on February 1, 2002, and on each August 1 and February 1 thereafter to maturity. The aggregate purchase price of the Series 2001 Bonds shall be [Purchase Price] (par less original issue discount of [OID] and less underwriters' discount of [Discount]), plus accrued interest on the Series 2001 Bonds from October 1, 2001 to the date of Closing (as hereinafter defined). The Series 2001 Bonds initially shall be offered to the public at such prices or yields (including discounts and premiums) as indicated on Exhibit A attached hereto. The Series 2001 Bonds are issued pursuant to the authority of, and in full compliance with, the Constitution of the State of Florida, and other applicable provisions of law, particularly Chapter 166, Part II, Florida Statutes, as amended and supplemented, the City Charter, as amended and supplemented, the Ordinance, and other applicable provisions of law. The Series 2001 Bonds are limited obligations of the City payable solely from and secured by a lien upon and a pledge of. (i) the Public Service Tax and (ii) until applied in accordance with the provisions of the Ordinance, all moneys, including investments thereof, in the funds and accounts established under the Ordinance, other than the Rebate Fund (collectively, the "Pledged Revenues"). The Series 2001 Bonds are being issued to: (i) provide a portion of the funds necessary to defease the City's Outstanding Florida Public Service Tax and Bridge Revenue Bonds, Series 1985 (the "Series 1985 Bonds") and Improvement Revenue Bonds, Series 1995 (the "Series 1995 Bonds") (collectively, the 1985 Bonds and the 1995 Bonds are hereinafter referred to as the "Refunded Bonds"), (ii) make deposit to the Reserve Fund to satisfy the Reserve Fund Requirement with respect to the Bonds, and (iii) pay expenses related to the issuance and sale of the Series 2001 Bonds, including the premium for municipal bond insurance. The Underwriter is duly authorized to execute this Bond Purchase Contract. 2. Good Faith Deposit. Delivered to you herewith, as a good faith deposit, is a corporate check of the Underwriters payable to the order of the City in the amount of [Good Faith Amount] as security for the performance by the Underwriters of their obligations to accept and pay for the Series 2001 Bonds at Closing (as defined herein) in accordance with the provisions hereof, In the event that you accept this offer, said check shall be held uncashed by the City as a good faith deposit. At the Closing, the check will be returned to the Underwriters. In the event you do not accept this offer, the check shall be immediately returned to the Underwriters. If the Underwriters fail (other than for a reason permitted hereunder) to accept and pay for the Series 2001 Bonds at the Closing as provided herein, the check may be cashed by you and the proceeds retained by the City as and for full liquidated damages for such failure and for any and all defaults hereunder on the part of the Underwriters, and the retention of such amounts shall constitute a full release and discharge of all claims and damages for such failure and for any and all such defaults hereunder on the part of the Underwriters. . In the event that the City fails to deliver the Series 2001 Bonds at the Closing, or if the City is unable at or prior to the date of Closing to satisfy or cause to be satisfied the conditions to the obligations of the Underwriters contained in this Bond Purchase Contract, or if the obligations of the Underwriters contained herein shall be cancelled or terminated for anyreason permitted bythis Bond Purchase Contract, the City shall be obligated to immediately return the check to the Underwriters and the return of such check shall constitute a full release and discharge of all claims and damages for such failure and for any and all such defaults hereunder on the part of the City. 3. Offering. It shall be a condition of your obligation to sell and deliver the Series 2001 Bonds to the Underwriters, and the obligation of the Underwriters to purchase and accept delivery of the Series 2001 Bonds, that the entire aggregate principal amount of the Series 2001 Bonds shall be sold and delivered by you and accepted and paid for by the Underwriters at the Closing. 2 The Underwriters agree to make a public offering of all of the Series 2001 Bonds at the initial offering prices set forth in Exhibit A attached hereto; provided, however, the Underwriters reserve the right to make concessions to dealers and to change such initial offering prices as the Underwriters shall deem necessary in connection with the marketing of the Series 2001 Bonds. 4. Preliminary Official Statement and Official Statement. The City hereby confirms that it has heretofore made available to the Underwriters a Preliminary Official Statement of the City relating to the Series 2001 Bonds, dated [September , 2001] (which, together with the cover page and appendices contained therein, is herein called the "Preliminary Official Statement"), and authorizes and ratifies the use and distribution thereof to prospective purchasers and investors. Within seven business days of the acceptance hereof by the City, the City shall cause to be delivered the final Official Statement, dated the date hereof (which, together with the cover page and appendices contained therein, is herein called the "Official Statement"), executed on behalf of the City by its Mayor-Commissioner and by its City Manager and such reasonable numbers of conformed copies as the Underwriters shall request, which shall be sufficient in number to comply with paragraph (b)(3) of Rule 15c2-12 of the Securities and Exchange Commission (17 CFR §240.15c2-12) under the Securities Exchange Act of 1934 and with Rule G-32 and all other applicable rules of the Municipal Securities Rulemaking Board. The City, by its acceptance hereof, ratifies and approves the Preliminary Official Statement and ratifies and approves and authorizes the Underwriters to use the Official Statement and all documents described therein in connection with the public offering and the sale of the Series 2001 Bonds. The City hereby deems the Preliminary Official Statement "final" as of its date for purposes of SEC Rule 15c2-12(b)(1). In accordance with Section 218.385, Florida Statutes, the Underwriters hereby discloses the information required by such Section, including a truth-in-bonding statement, as provided in Exhibit B attached hereto. 5. Use of Documents. You hereby authorize the use by the Underwriters of (a) the Ordinance, (b) the Preliminary Official Statement, (c) the Official Statement (including any supplements or amendments thereto), (d) the Escrow Deposit Agreement, dated as of September 1, 2001 (the "Escrow Deposit Agreement"), between the Cityand [Paying Agent, Registrar and Escrow Agent], as Escrow Agent, relating to the refunding of the Refunded Bonds, (e) the Continuing Disclosure. Certificate, of the City, dated as of October 1, 2001 (the "Continuing Disclosure Certificate"); and (f) any other documents related to the transactions contemplated in the Official Statement in connection with the public offering, sale and distribution of the Series 2001 Bonds. 6. Representations, Warranties and Agreements. The City hereby represents, warrants and agrees as follows: (a) As of the date of the Official Statement and at the time of Closing, the statements and information contained in the Official Statement will be true, correct and complete in all material respects and the Official Statement will not omit any statement or information which should be included therein for the purposes for which the Official Statement is to be used or which is necessary to make the statements or information contained therein, in light of the circumstances under which they were made, not misleading. 3 (b) Between the date of this Bond Purchase Contract and the time of Closing, the City will not execute any bonds, notes or obligations for borrowed money (other than the Series 2001 Bonds which pledge either the full faith and credit of the City or any portion of the Pledged Revenues, without giving prior written notice thereof to the Underwriters. (c) The City is, and will be at the date of Closing, duly organized and validly existing as a municipal corporation of the State of Florida, with the powers and authority set forth in the Act. (d) The City has full legal right, power and authority to: (i) enter into this Bond Purchase Contract, the Continuing Disclosure Certificate and the Escrow Deposit Agreement, (ii) adopt the Ordinance, (iii) sell, issue and deliver the Series 2001 Bonds to the Underwriters as provided herein, and (iv) carry out and consummate the transactions contemplated by this Bond Purchase Contract, the Continuing Disclosure Certificate, the Escrow Deposit Agreement, the Ordinance and the Official Statement and the City has complied, and at the Closing will be in compliance, in all respects, with the terms of the Act and with the obligations on its part in connection with the issuance of the Series 2001 Bonds contained in the Ordinance, the Series 2001 Bonds, the Escrow Deposit Agreement, the Continuing Disclosure Certificate and this Bond Purchase Contract. (e) By all necessary official action, the City has duly adopted the Ordinance, has duly authorized and approved the Official Statement, has duly authorized and approved the execution and delivery of, and the performance by the City, of this Bond Purchase Contract, the Escrow Deposit Agreement, the Continuing Disclosure Certificate and all other obligations on its part in connection with the issuance of the Series 2001 Bonds and the conswnmation by it of all other transactions contemplated by this Bond Purchase Contract in connection with the issuance of the Series 2001 Bonds; upon delivery of the Series 2001 Bonds, each of the Ordinance, the Continuing Disclosure Certificate and the Escrow Deposit Agreement will each constitute a legal, valid and binding obligation of the City, enforceable in accordance with their respective terms, subject to applicable bankruptcy, insolvency, and similar laws affecting creditors' rights generally and subject, as to enforceability, to general principles of equity. (f) When delivered to and paid for bythe Underwriters at the Closing in accordance with the provisions of this Bond Purchase Contract, the Series 2001 Bonds will have been duly authorized, executed, issued and delivered and will constitute valid and binding obligations of the City in conformity with the Act and the Ordinance, and shall be entitled to the benefits of the Ordinance, including a prior pledge of and lien upon the Pledged Revenues in accordance with the provisions of the Ordinance, subject to bankruptcy, insolvency, reorganization, moratorium and other similar laws affecting creditors'rights generally and subject, as to enforceability, to general principles of equity. (g) The adoption of the Ordinance and the authorization, execution and delivery of this Bond Purchase Contract, the Continuing Disclosure Certificate, the Escrow Deposit Agreement and the Series 2001 Bonds, and compliance with the provisions hereofand thereof, will not conflict with, or constitute a breach of or default under any law, administrative regulation, consent decree, ordinance, resolution or any agreement or other instrument to which the City was or is subject, nor will such enactment, adoption, execution, delivery, authorization or compliance result in the creation 4 or imposition of any lien, charge or other security interest or encumbrance of any nature whatsoever upon any of the property or assets of the City, or under the terms of any law, administrative regulation, ordinance, resolution or instrument, except as expressly provided by the Ordinance or the Series 2001 Bonds. (h) At the time of Closing, the City will be in compliance in all respects with the covenants and agreements contained in the Act and the Ordinance and no event of default and no event which, with the lapse of time or giving of notice, or both, would constitute an event of default under the Ordinance will have occurred or be continuing. (i) Except as provided in the Official Statement, all approvals, consents, authorizations and orders of any govenunental authority or agency having jurisdiction in any matter which would constitute a condition precedent to the performance by the City of its obligations hereunder and under the Ordinance, the Continuing Disclosure Certificate or the Escrow Deposit Agreement have been obtained and are in full force and effect. 0) The City is lawfully empowered to pledge and grant a lien upon the Pledged Revenues for payment of the principal of and interest on the Series 2001 Bonds. (k) Except as disclosed in the Official Statement, to the best knowledge of the City, as of the date hereof, there is no action, suit, proceeding, inquiry or investigation, at law or in equity, before or by any court, government agency, public board or body, pending or threatened against the City, affecting or seeking to prohibit, restrain or enjoin the sale, issuance or delivery of the Series 2001 Bonds or the pledge of and lien on the Pledged Revenues created by the Ordinance or contesting or affecting as to the City the validity or enforceability in any respect relating to the Series 2001 Bonds, the Ordinance, the Continuing Disclosure Certificate, the Escrow Deposit Agreement or this Bond Purchase Contract, or contesting the tax-exempt status of interest on the Series 2001 Bonds, or contesting the completeness or accuracy of the Official Statement or any supplement or amendment thereto, or contesting the powers of the City or the City Commission, or ally authority for the issuance of the Series 2001 Bonds, the adoption of the Ordinance or the execution and delivery by the City of this Bond Purchase Contract, the Continuing Disclosure Certificate or the Escrow Deposit Agreement. (1) The City will furnish such information, execute such instruments and take such other action in cooperation with the Underwriters as the Underwriters may reasonably request in order to (i) qualify the Series 2001 Bonds for offer and sale under the "blue sky" or other securities laws and regulations of such states and other jurisdictions of the United States as the Underwriters may designate, and (ii) determine the eligibility of the Series 2001 Bonds for investment under the laws of such states and other jurisdictions, and will use its best efforts to continue such qualifications in effect so long as required for the distribution of the Series 2001 Bonds; provided, however, that the City shall not be required to execute a general or special consent to service of process or qualify to do business in connection with any such qualification or determination in any jurisdiction or expend its own funds with respect to the foregoing. 5 (m) The City will not take or omit to take any action which action or omission will in any way cause the proceeds from the sale of the Series 2001 Bonds to be applied in a manner contrary to that provided for in the Ordinance and as described in the Official Statement. (n) Except as expressly disclosed in the Official Statement, the City neither is nor has been in default any time after December 31, 1975, as to payment of principal or interest with respect to an obligation issued or guaranteed bythe City (except with respectto bonds for which it has acted solely as a "conduit issuer"). (o) The City has not been notified of any listing or proposed listing by the Internal Revenue Service to the effect that it is a bond issuer whose arbitrage certifications may not be relied upon. (p) As of its date, the Preliminary Official Statement is hereby deemed "final" bythe City for purposes of SEC Rule 15c2-12(b)(1), except for "permitted omissions" as defined in such Rule. (q) If, after the date of this Bond Purchase Contract and until the earlier of (i) 90 days from the end of the "underwriting period" (as defined in SEC Rule 15c2-12) or (ii) the time when the Official Statement is available to any person from a nationally recognized repository, but in no case less than 25 days following the end of the underwriting period, any event shall occur which might or would cause the Official Statement, as then supplemented or amended, to contain any untrue statement of a material fact or to omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, the City shall notify the Underwriters thereof, and, if in the opinion of the Underwriters such event requires the preparation and publication of a supplement or amendment to the Official Statement, the City will at its own expense forthwith prepare and furnish to the Underwriters a sufficient number of copies of an amendment of or supplement to the Official Statement (in form and substance satisfactory to Counsel to the Underwriters) which will supplement or amend the Official Statement so that it will not contain an untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in light of the circumstances existing at such time, not misleading. The Underwriters shall notify the City in writing of the date on which the "underwriting period" ends. (r) The City shall undertake, pursuant to the Ordinance, to comply with the Continuing Disc!osure Certificate. 7. Closing. At 1:00 p.m., E.D.T., on [Closing Date], or at such time on such earlier or later date as shall be agreed upon, you will deliver to the Underwriters, at the location and place to be agreed upon by you and the Underwriters, the Series 2001 Bonds in definitive form, duly executed, together with the other documents herein mentioned; and the Underwriters will accept such delivery and pay at such location as may be agreed upon by you and the Underwriters the purchase price of the Series 2001 Bonds as set forth in Section 1 hereof, plus accrued interest on the Series 2001 Bonds from [Sale Date], by immediately available funds, payable to the order of the City. This delivery and payment is herein called the "Closing." The Series 2001 Bonds shall be made available to the Underwriters at least one business day before the Closing for purposes of 6 inspecting and packaging. The Series 2001 Bonds shall be prepared and delivered as fully registered Bonds. 8. Closing Conditions. The Underwriters have entered into this Bond Purchase Contract in reliance upon the representations and warranties of the City herein contained and the performance by the City of its obligations hereunder, both as of the date hereof and as of the time of Closing. The obligations of the Underwriters under this Bond Purchase Contract are and shall be subject to the following conditions: (a) The representations, warranties and agreements of the City contained herein shall be true and correct and complied with as of the date hereof and as of the date of the Closing, as if made on the date of the Closing. (b) At the time of the Closing, the Ordinance shall be in full force and effect in accordance with its terms and shall not have been amended, modified or supplemented except as amended, modified or supplemented by a resolution incorporating the terms and conditions contained in the municipal bond insurance commitment of the Insurer (as defined herein), and the Official Statement shall not have been supplemented or amended, except in any such case as may have been agreed to by the Underwriters. (c) At the time of Closing, a resolution of the City shall have incorporated the terms and conditions contained in the municipal bond insurance commitment of the Insurer into the Ordinance. (d) At the time of the Closing, all official action of the City relating to this Bond Purchase Contract, the Continuing Disclosure Certificate, the Escrow Deposit Agreement and the Series 2001 Bonds shall be in full force and effect in accordance with their respective terms and shall not have been amended, modified or supplemented in any material respect, except in each case as may have. been agreed to by the Underwriters. (e) 'The Underwriters shall have the right to cancel the agreement contained herein to purchase, to accept delivery of and to pay for the Series 2001 Bonds by notifying you in writing of their intention to do so if. (i) between the date hereof and the Closing, legislation shall have been enacted by the Congress of the United States, or recommended to the Congress for passage by the President of the United States, or favorably reported for passage to either House of Congress by any Committee of such House, or passed by either House of Congress, or a decision shall have been rendered by a court of the United States or the United States Tax Court, or a ruling shall have been made or a regulation shall have been proposed or made by the Treasury Department of the United States or the Internal Revenue Service, with respect to the federal taxation of interest received on obligations of the general character of the Series 2001 Bonds, which, in the opinion of Counsel for the Underwriters has, or will have, the effect of making such interest subject to inclusion in gross income for purposes of federal income taxation, except to the extent such interest shall be includable in gross income on the date hereof, or 7 (ii) between the date hereof and the Closing, legislation shall be enacted or any action shall be taken by the Securities and Exchange Commission which, in the opinion of Counsel for the Underwriters, has the effect of requiring the contemplated issuance or distribution of the Series 2001 Bonds to be registered under the Securities Act of 1933, as amended, or of requiring the Ordinance to be qualified under the Trust Indenture Act of 1939, as amended, or (iii) an event described in paragraph (s) of Section 6 hereof shall have occurred which requires an amendment or supplement to the Official Statement and which, in the reasonable opinion of the Underwriters, materially adversely affects the marketability of the Series 2001 Bonds or the market price thereof, or, (iv) in the opinion of the Underwriters, payment for and delivery of the Series 2001 Bonds is rendered impracticable or inadvisable because (A) trading in securities generally shall have been suspended on the New York Stock Exchange, Inc., or (B) a general banking moratorium shall have been established by Federal, New York or Florida authorities, or (C) the engagement of the United States in a war or other hostilities or the threat of war or other hostilities, or (v) an order, decree or injunction of any court of competent jurisdiction, or any order, ruling, regulation or administrative proceeding by any governmental body or board, shall have been issued or commenced, or any legislation enacted, with the purpose or effect of prohibiting the issuance, offering or sale of the Series 2001 Bonds as contemplated hereby or by the Official Statement or prohibiting the adoption of the Ordinance or the performance thereof, or (vi) between the date hereof and the Closing, the City has, without the prior written consent of the Underwriters, offered or issued any bonds, notes or other obligations for borrowed money, or incurred any material liabilities, direct or contingent, other than as described in the Official Statement, in either case payable from the full faith and credit of the City or any portion of the Pledged Revenues, or (vii) the President of the United States, the office of Management and Budget, the Department of Treasury, the Internal Revenue Service or any other governmental body, department, agency or commission of the United States or the State of Florida shall take or propose to take any action or implement or propose regulations, rules or legislation which, in the reasonable judgment of the Underwriters, materially adversely affects the market price of the Series 2001 Bonds or causes any material information in the Official Statement, in light of the circumstances under which it appears, to be misleading in any material respect, or (viii) any executive order shall be announced, or any legislation, ordinance, rule or regulation shall be proposed by or introduced in, or be enacted by any governmental body, department, agency or commission of the United States or the State of Florida or the State of New York, having jurisdiction over the subject matter, or a decision by any court of 8 competent jurisdiction within the United States or within the State of Florida or the State of New York shall be rendered which, in the reasonable judgment of the Underwriters, materially adversely affects the market price of the Series 2001 Bonds or causes any information in the Official Statement to be misleading in any material respect, or (ix) prior to Closing, either (A) Moody's Investors Service or Fitch Investors Service shall inform the City or the Underwriters that the Series 2001 Bonds will not be rated at least AAA and Aaa, respectively or (B) MBIA (the "Insurer") shall inform the Underwriters or the City that it shall riot deliver its municipal bond insurance policy (the "Policy") at the time of Closing, or (x) the rating of any class of security of the City shall have been downgraded or withdrawn by a national credit rating service. (f) At or prior to the date of the Closing, the Underwriters shall receive the following documents: (i) The Ordinance certified by the Clerk of the City under seal as having been duly enacted, adopted or executed, as the case may be, by the City and as being in effect, with only such supplements, modifications or amendments as may have been agreed to by the Underwriters. (ii) Fully executed counterparts of (A) the Escrow Deposit Agreement (B) the Continuing Disclosure Certificate, and (C) the Official Statement and copies of conformed Official Statements sufficient to satisfy the requirements of Section 4 hereof. (iii) A final approving opinion of Bryant, Miller and Olive, P.A., Bond Counsel to the City, addressed to you, dated the date of the Closing, in substantially the form included in the Official Statement as Appendix D. (iv) A letter of Bryant, Miller and Olive, P.A., addressed to the Underwriters, and dated the date of Closing, to the effect that their final approving opinion referred to in Section 8(f)(iii) hereof may be relied upon by the Underwriters and the Insurer to the same extent as if such opinion were addressed to the Underwriters and the. Insurer. (v) A supplemental opinion of Bryant, Miller and Olive, P.A., addressed to you and the Underwriters, and dated the date of Closing, to the effect that, (A) the information set forth in the Official Statement under the headings, "INTRODUCTION," "PURPOSE OF THE SERIES 2001 BONDS," "DESCRIPTION OF THE SERIES 2001 BONDS," "SECURITY FOR THE SERIES 2001 BONDS," and "REFUNDING PROGRAM" (other than the financial and statistical information included therein as to which no opinion need be expressed), insofar as such information purports to be descriptions or summaries of the Act, the Ordinance and the Series 2001 Bonds, constitute correct summaries of the matters set forth or the documents referred to therein, and the information under the heading "TAX EXEMPTION" is correct, and (B) the Series 2001 Bonds are not required to be registered 9 under the Securities Act of 1933, as amended, and it is not necessary to qualify the Ordinance under the Trust Indenture Act of 1939, as amended. (vi) An opinion of Pamela K. Akin, Esquire, City Attorney, addressed to you, the Insurer and the Underwriters, and dated the date of the Closing, to the effect that, (A) the City is a municipal corporation, duly created and validly existing and has full legal right, power and authority to adopt the Ordinance and perform its obligations under the Ordinance, and to authorize, execute and deliver and to perform its obligations under this Bond Purchase Contract, the Continuing Disclosure Certificate and the Escrow Deposit Agreement, (B) the City has duly adopted the Ordinance and has duly authorized, executed and delivered this Bond Purchase Contract, the Continuing Disclosure Certificate and the Escrow Deposit Agreement, and assuming the due authorization, execution and delivery of this Bond Purchase Contract, the Continuing Disclosure Certificate and the Escrow Deposit Agreement by the other parties thereto, each such instrument constitutes the legal, binding and valid obligation of the City, enforceable in accordance with its respective terms; provided, however, the enforceability thereof may be subject to bankruptcy, insolvency, reorganization, moratorium and other similar laws affecting creditors' rights generally and subject, as to enforceability, to general principles of equity and the Series 2001 Bonds have been properly executed by the proper officers of the City, (C) the information in the Official Statement as to legal matters relating to the City, the Act, the Series 2001 Bonds and the Ordinance is correct in all material respects and does not omit any statement, which in her opinion, should be included or referred to therein, and in addition, with respect to the information in the Official Statement and based upon her review of the Official Statement as City Attorney and without having undertaken to determine independently the accuracy or completeness of the contents of the Official Statement, she has no reason to believe that the Official Statement (except for the financial and statistical data contained therein and the information relating to the Insurer and the Policy, as to which no view need be expressed) contains an untrue statement of a material fact or omits to state a material fact required to be stated therein or necessary to make the statements made therein, in light of the circumstances under which they were made, not misleading, (D) the use of the Preliminary Official Statement by the Underwriters for the purpose of offering the Series 2001 Bonds for sale has been duly authorized and ratified by the City, (E) the Official Statement has been duly authorized, executed and delivered by the City, and the City has consented to the use thereof by the Underwriters, (F) to the best of her knowledge, the adoption of the Ordinance, and the authorization, execution and delivery of this Bond Purchase Contract, the Escrow Deposit Agreement, the Continuing Disclosure Certificate and the Series 2001 Bonds, and compliance with the provisions hereof and thereof, will not conflict with, or constitute a breach of or default under, any law, administrative regulation, consent decree, ordinance, resolution or any agreement or other instrument to which the City was or is subject, as the case may be, nor will such enactment, adoption, execution, delivery, authorization or compliance result in the creation or imposition of any lien, charge or other security interest or encumbrance of any nature whatsoever upon any of the property or assets of the City, or under the terms of any law, administrative regulation, ordinance, resolution or instrument, except as expressly provided by the Ordinance, (G) to the best of her knowledge, all approvals, consents, authorizations and orders of any governmental authority or agency 10 having jurisdiction in any matter which would constitute a condition precedent to the performance by the City, of its obligations hereunder and under the Ordinance have been obtained and are in full force and effect, (H) the City is lawfully empowered to pledge, and grant a prior lien on, the Pledged Revenues for payment of the principal of and interest on the Series 2001 Bonds as the same becomes due and payable, and (I) except as disclosed in the Official Statement, to the best of her knowledge, as of the date of such opinion, there is no action, suit, proceeding, inquiry or investigation, at law or in equity, before or by any court, government agency, public board or body, pending or threatened against the City, affecting or seeking to prohibit, restrain or enj oin the sale, issuance or delivery of the Series 2001 Bonds, or the pledge of and lien on the Pledged Revenues, or contesting or affecting the validity or enforceability in any respect of the Series 2001 Bonds, the Ordinance, the Escrow Deposit Agreement, the Continuing Disclosure Certificate or this Bond Purchase Contract, or contesting the tax-exempt status of interest on the Series 2001 Bonds, or contesting the completeness or accuracy of the Official Statement or any supplement or amendment thereto, or contesting the powers of the City or the City Commission, or any authority for the issuance of the Series 2001 Bonds, the adoption of the Ordinance or the execution and delivery by the City of this Bond Purchase Contract, the Continuing Disclosure Certificate and the Escrow Deposit Agreement. (vii) A certificate, which shall be true and correct atthe time of Closing, signed by the Finance Director/City Treasurer of the City, or such other officials satisfactory to the Underwriters, and in form and substance satisfactory to the Underwriters, to the effect that, to the best of their knowledge and belief (A) the representations, warranties and covenants of the City contained herein are true and correct in all material respects and are complied with as of the time of Closing, (B) the information appearing in the Official Statement under the caption "HISTORICAL PUBLIC SERVICE TAX RECEIPTS BY CATEGORY," "ESTIMATED SOURCES AND USES OF FUNDS," and "DEBT SERVICE SCHEDULE" has been provided by the City specifically for inclusion therein and is true, correct and complete as of its date, (C) except as described under the caption referred to in (B) above, since the date of the audited financial statements contained in the Official Statement, there has been no material adverse change in the financial condition of the City, and (D) the Official Statement did not as of its date, and does not as of the date of Closing, contain any untrue statement of a material fact or omit to state a material fact which should be included therein for the purposes for which the Official Statement is to be used, or which is necessary in order to make the statements contained therein, in light of the circumstances in which they were made, not misleading (provided, that no opinion need be expressed regarding the information contained therein relating to the Insurer or the Policy). (viii) A certificate of an authorized representative of [Registrar, Paying Agent and Escrow Agent], [Paying Agent Location] (the "Bank"), as Registrar and Paying Agent to the effect that (A) the Bank is a national banking association duly organized, validly existing and in good standing under the laws of the United States of America and is duly authorized to exercise trust powers in the State of Florida, (B) the Bank has all requisite authority, power, licenses, permits and franchises, and has full corporate power and legal authority to execute and perform its functions under the Ordinance, (C) the performance by the Bank of its 11 functions under the Ordinance will not result in any violation of the Articles of Association or Bylaws of the Bank, any court order to which the Bank is subject or any agreement, indenture or other obligation or instrument to which the Bank is a party or bywhich the Bank is bound, and no approval or other action by any governmental authority or agency having supervisory authority over the Bank is required to be obtained by the Bank in order to perform its functions under the Ordinance, and (D) to the best of such representative's knowledge, there is no action, suit, proceeding or investigation at law or in equity before any court, public board or body pending or, to his or her knowledge, threatened against or affecting the Bank wherein an unfavorable decision, ruling or finding on an issue raised by any party thereto is likely to materially and adversely affect the ability of the Bank to perform its obligations under the Ordinance. (viii) A certificate of an authorized representative of [Paying Agent, Registrar and Escrow Agent] (the "Escrow Agent"), as Escrow Agent to the effect that (A) the Escrow Agent is a national banking association duly organized, validly existing and in good standing under the laws of the United States of America and is duly authorized to exercise trust powers in the State of Florida, (B) the Escrow Agent has all requisite authority, power, licenses, permits and franchises, and has full corporate power and legal authority to execute and perform its functions under the Escrow Deposit Agreement, (C) the performance by the Escrow Agent of its functions under the Escrow Deposit Agreement will not result in any violation of the Articles of Association or Bylaws of the Escrow Agent, any court order to which the Escrow Agent is subject or any agreement, indenture or other obligation or instrument to which the Escrow Agent is a party or by which the Escrow Agent is bound, and no approval or other action by any governmental authority or agency having supervisory authority over the Escrow Agent is required to be obtained by the Escrow Agent in order to perform its functions under the Escrow Deposit Agreement, (D) the Escrow Deposit Agreement constitutes a valid and binding obligation of the Escrow Agent in accordance with its terms, subject to applicable bankniptcy, insolvency, reorganization, moratorium and other similar laws affecting creditors' rights generally and subject, as to enforceability, to general principles of equity and (E) to the best of such representative's knowledge, there is no action, suit, proceeding or investigation at law or in equity before any court, public board or body. pending or, to his or her knowledge, threatened against or affecting the Escrow Agent wherein an unfavorable decision, ruling or finding on an issue raised by any party thereto is likely to materially and adversely affect the ability of the Escrow Agent to perform its obligations under the Escrow Deposit Agreement. (x) An executed copy of the Escrow Deposit Agreement. (xi) An executed copy of the verification report of [Verification Agent], as described in the Official Statement under the heading "VERIFICATION OF MATHEMATICAL COMPUTATIONS." (xii) The Policy issued by the Insurer. 12 (xiii) An opinion of general counsel to the Insurer or a certificate of an officer of the Insurer dated the date of the Closing and addressed to the Underwriters, concerning the Insurer, the Policy, and the information relating to the Insurer and the Policy contained in the Official Statement, in form and substance satisfactoryto Bond Counsel, the Underwriters and Counsel to the Underwriters. (xiv) A certificate of the Mayor deeming the Preliminary Official Statement "final" as of its date for purposes of Rule 15c2-12; (xv) A certification as a part of the general certificate of certain officials of the City to the effect that: (i) the audited financial statements of the City included in the Official Statement have been prepared in accordance with generally accepted governmental accounting principles consistently applied; (ii) nothing has come to the attention of such officials as of the date hereof which would lead such officials to believe that any material change to such unaudited financial statements of the City has been, or will be, proposed by the auditors; and (iii) such officials are not aware of any material adverse changes in the financial status or results of operations of the City from that set forth in such unaudited financial statements; (xvi) A letter of Moody's Investors Service, to the effect that the Series 2001 Bonds have been assigned a rating no less favorable than " ," a letter of Fitch Investors Service to the effect that the Series 2001 Bonds have been assigned a rating no less favorable than " " and a letter of Moody's Investors Service to the effect that the Series 2001 Bonds have been assigned a rating no less favorable than each of which ratings shall be in effect as of the date of Closing. (xvii) Such additional legal opinions, certificates, instruments and other documents as the Underwriters may reasonably request to evi dence the truth and accuracy, as of the date hereof and as of the date of the Closing, of the City's representations and warranties contained herein and of the statements and information contained in the Official Statement and the due performance or satisfaction by the City on or prior to the date of Closing of all the agreements then to be performed and conditions then to be satisfied by it. If the City shall be unable to satisfy the conditions to the obligations of the Underwriters to purchase, to accept delivery of and to pay for the Series 2001 Bonds contained in this Bond Purchase Contract and the Underwriters does not waive such inability in writing, or if the obligations of the Underwriters to purchase, to accept delivery of and to pay for the Series 2001 Bonds shall be terminated for any reason permitted by this Bond Purchase Contract, this Bond Purchase Contract shall terminate, the good faith deposit described in Section 2 hereof shall be returned to the Underwriters and neither the Underwriters nor the City shall be under any further obligation hereunder, except that the respective obligations of the City and the Underwriters set forth in Section 9 hereof shall continue in full force and effect. 9. Expenses. The Underwriters shall be under no obligation to pay, and the City shall pay, any expense incident to the performance of the City's obligations hereunder including, but not 13 W. limited to: (a) the cost of preparation, printing and delivery of the Ordinance; (b) the cost of preparation and printing of the Series 2001 Bonds; (c) the fees and disbursements of Bond Counsel and Disclosure Counsel; (d) the fees and disbursements of the City's certified public accountants; (e) the fees and disbursements of any experts, consultants or advisors retained by the City; (f) fees for bond ratings; (g) the fees and expenses of the Registrar, the Paying Agent, Escrow Agent, Verification Agent and of their respective counsel; and (h) the costs of preparing, printing and delivering the Preliminary Official Statement and the Official Statement and any supplements or amendments thereto. The Underwriters shall pay: (a) the cost of preparing, printing and delivery of this Bond Purchase Contract; (b) all advertising expenses; and (c) all other expenses incurred by them or any of them in connection with the public offering of the Series 2001 Bonds. In the event that either party shall have paid obligations of the other as set forth in this Section 9, adjustment shall be made at the time of the Closing. 10. Notices. Any notice or other communication to be given to you under this Bond Purchase Contract may be given by mailing the same to City of Clearwater, Florida, 100 South Myrtle Ave., Clearwater, Florida 34616-5520, to the attention of Finance Director/ City Treasurer, and any such notice or other communication to be given to the Underwriters may be mailed to William R. Hough & Co., 100 Second Avenue South, Suite 800, St. Petersburg, Florida 33701. 11. Parties in Interest. This Bond Purchase Contract is made solely for the benefit of the City and the Underwriters and no other party or person shall acquire or have any right hereunder or by virtue hereof. All your representations, warranties and agreements in this Bond Purchase Contract shall remain operative and in full force and effect and shall survive the delivery of the Series 2001 Bonds. 12. Waiver. Notwithstanding any provision herein to the contrary, the performance of any and all obligations of the City hereunder and the performance of any and all conditions contained herein for the benefit of the Underwriters may be waived by the Underwriters, in their sole discretion, and the approval of the Underwriters when required hereunder or the determination of their satisfaction as to any document referred to herein shall be in writing, signed by an appropriate officer or officers of the Underwriters and delivered to you. 13. No Liability. Neither the City Commission, nor any of the members thereof, nor any officer, agent or employee thereof, shall be charged personally by the Undenvriters with any liability, or held liable to the Underwriters under any term or provision of this Bond Purchase Contract because of its execution or attempted execution, or because of any breach or attempted or alleged breach thereof. 14 14. Governing Law. This Bond Purchase Contract, and the terms and conditions herein, shall constitute the full and complete agreement between the City and the Underwriters with respect to the purchase and sale of the Series 2001 Bonds. This Bond Purchase Contract shall be governed by and construed in accordance with the laws of the State of Florida. Very truly yours, Accepted this day of October, 2001. WILLIAM R. HOUGH & CO., AS SENIOR MANAGER ON BEHALF OF THE UNDERWRITERS BY: Title: Senior Vice President CITY OF CLEARWATER, FLORIDA ATTEST: Mayor City Manager Approved as to form: City Attorney City Clerk 15 EXHIBIT A SERIES 2001 BONDS MATURITY SCHEDULE Maturity Principal (September 1) Amount Interest Rate Yield Redemption Provisions Optional Redemption The Series 2001 Bonds maturing February 1, to February, are not callable prior to their maturity dates, The Series 2001 Bonds maturing after February, are subject to optional redemption by the City, on and after February, as a whole at any time, or in part on any Interest Payment Date thereafter, from the maturities selected by the City, and by lot within a maturity if less than an entire maturity is redeemed, at the redemption prices (expressed as percentages of principal amount) set forth below, together with accmed interest to the date of redemption: A-1 Redemption Period February, through January 31, February, through January 31, February, and thereafter Mandatory Redemption The Series 2001 Bonds maturing on February, Price will be subject to mandatory redemption prior to maturity, by lot, in such manner as the Registrar may deem appropriate, at a redemption price equal to the Compound Accreted Value thereof on the redemption date, on February, , and on each February thereafter, in the following principal amounts in the years specified: Amortization Amortization Year Installment Year Installment *Final maturity The Series 2001 Bonds maturing on February, will be subject to mandatory redemption prior to maturity, by lot, in such manner as the Registrar may deem appropriate, at a redemption price equal to the Compound Accreted Value thereof on the redemption date, on February, , and on each February thereafter, in the following principal amounts in the years specified: Amortization Amortization Year Installment Year Installment *Final maturity A-2 EXHIBIT B DISCLOSURE STATEMENT AND TRUTH-IN-BONDING STATEMENT February, 2001 City Commission of the City of Clearwater, Florida Clearwater, Florida Re: $12,000,000 City of Clearwater, Florida Improvement Revenue Refunding Bonds, Series 2001 Dear Commission Members: In connection with the proposed issuance by the City of Clearwater, Florida (the "City") of $12,000,000 Improvement Revenue Refunding Bonds, Series 2001 (the "Series 2001 Bonds"), William R. Hough & Co. and Salomon Smith Barney, Inc. (the "Underwriters") is underwriting a public offering of the Series 2001 Bonds. The purpose of the following seven paragraphs of this letter is to furnish, pursuant to the provisions of Section 218.385 (6), Florida Statutes, as amended, certain information in respect of the arrangements contemplated for the purchase and sale of the Series 2001 Bonds, as follows: (a) The nature and estimated amount of expenses to be incurred by the Underwriters in connection with the purchase and re-offering of the Series 2001 Bonds are set forth in Schedule I attached hereto. (b) There are no "finders," as defined in Section 218.386, Florida Statutes, as amended, connected with the sale and purchase of the Series 2001 Bonds. (c) The combined underwriting spread, the difference between the price at which the Series 2001 Bonds will be initially offered to the public by the Underwriters and the price to be paid to the City for the Series 2001 Bonds, exclusive of accrued interest, will be approximately $ per $1,000 of Series 2001 Bonds issued. The underwriting spread for the Series 2001A Bonds will be approximately $ ;the underwriting spread for the Series 2001B Bonds will be approximately $ (d) As part of the estimated underwriting spread set forth in paragraph (c) above, the Underwriters will charge a management fee of $ per $1,000 of Series 2001 Bonds issued. B-1 (e) No other fee, bonus or other compensation is estimated to be paid by the Underwriters in connection with the issuance of the Series 2001 Bonds to any person not regularly employed or retained by the Underwriters (including any "finder" as defined in Section 218.386(1)(a), Florida Statutes), except as specifically enumerated as expenses to be incurred by the Underwriters, as set forth in paragraph (a) above. (f) The names and addresses of the Underwriters are: William R. Hough & Co. 100 Second Avenue South, Suite 800 St. Petersburg, Florida 33701 The purpose of the following two paragraphs is to furnish, pursuant to the provisions of Sections 218.385(2) and (3), Florida Statutes, as amended, the truth-in-bonding statement required thereby, as follows: (a) The City is proposing to issue the Series 2001 Bonds to (i) advance refund the Series 1994 Bonds; (ii) fund the Reserve Requirement for the Series 2001 Bonds; and (iii) pay the costs of issuance of the Series 2001 Bonds. The obligations are expected to be repaid over a period of approximately 25 years. At the interest rates set forth on Exhibit A to the Bond Purchase Contract to which this is attached, total interest paid over the life of the obligation will be approximately $ (b) The source of repayment or security of the Series 2001 Bonds is the Pledged Revenues. Authorizing this debt will result in an average of approximately $ of such Pledged Revenues not being available to finance other services ofthe City each year for the term of the issue. The foregoing is provided for information purposes only and shall not affect or control the actual terms and conditions of the Series 2001 Bonds. Very truly yours, WILLIAM R. HOUGH & CO. SALOMON SMITH BARNEY, INC. By: William R. Hough & Co., as representative of the Underwriters Title: Senior Vice President B-2 00 SCHEDULE I UNDERWRITERS'S ESTIMATED EXPENSES (Per $1,000 of Series 2001 Bonds) Per Bond Amount Travel, Closing, Newspaper Advertising Postage/Fax/Phone/Courier DTC/CUSIP/Dalnet/PSA Day Loan Total I-1 C, i 4 = ? Q V •C ? L ? c V Z 4 t. r y r ? . z a ,=s C1 t. rte`. = O a. = t. 0 CQ n c, r.t 'Q C V ?-y0 S h c y •? O 3 CS ? L O ? r .10 O L r C c: 'v e "r = i v 3 d A.L •? C C .Ct. L Zt ts L a+d? -it O '? 4 a o b ,h d?+ L C "C L Q = q 0 s Preliminary OJJ'icial Statement Dated September , 001 NEW ISSUE "Book Entry Only Ratings: Moodyrs: S&P: Fitch: ([Insurer] Insured) In the opinion of Bond Coexist, assaorisr reatinseins comallence by the City with eermin covenants it eemsply with prorbisws sjtke /ataaal RtrewNo Celt sf it8i, see amended. Interest on the Series 2001 Boards Is exduded/i om Brost louseJirpurJsses aJje/arc/lwesme saxsdon end a Net an Items of ax preference jarperposes of the federal alternative aim lamp ter impesed on Individuals and eerpermlons sender exlsdns stanstes, regseletions end judicial decisions; dthosesk it should be neat/ that be the Cast of eerpo?atbas fns deffnedferfedersI(ace me tax purposes),suchInterest Is taken into accessories deternlnlnsadjsestedeurreateeralnssforpurposes ofssecksternedreminim on tax. Furthermore, is the epwbn of Based Counsel, eke Series 2001 Bonds and the income tberejrow are exempt from all present lateaslble pe?s ,a at property axes Imposed by Chapter IM Florida Stetates and documseatary stamp taxes imposed by CA mister 201, Florlde Statuses, as emended See "TAX EXEMPTION" herds for Jorrker Inform sitleme. $1290009000* CITY OF CLEARWATER, FLORIDA Improvement Revenue Refunding Bonds, Series 2001 Dated: October 1, 2001 Due: February 1, as shown on the Inside cover The $12,000,000" improvement Revenue Refunding Beads, Series 2001 (the "Series 2001 Bonds") are being issued by the City of Clearwater, Florida (the "City"), as fully registered bonds, without coupons, and when issued, will be registered in the name ofCede alt Co., as nominee of The Depository Trust Company, New York, New York ("OTC"). DTC will act as securities depository for the Series 2001 Bonds. Individual purchases of the Series 2001 Bonds will be made in book-entry form only, is the denominations of 53,000 each seed integral multiples thereof. Interest on the Series 2001 Bonds (first payment due February I, 2002 and sesniannually thereafter on each August I and Febmary i) will be payable by cbeck or draft of (Paying A gmt an d Registrar), (P ayin g A gent Location), as Re gistrar a nd Paying Agent, made payable and seta iled to the pens on in whose name llee Seri+es 2001 B oa d is registered, as shown on the registration books kept by the Registrar atthe close of business on the fifteenth day of the calendar month (whether or not a business day) nest preceding the Interest Payment Date. Payments of principal ofand interest on the Series 2001 Bonds are to be made to purchasers by DTC through the Participants. Purchasers will notreceive physical delivery of the Series 2001 Bonds. Principal ofthe Series 2001 Bonds is payable to the registered owner upon pretenution and surreaderofthe Series 2001 Boards at the corporate trust office ofthe Paying Agent. See "DESCRIPTION O F THE SERIES 2001 BONDS" herein. All capitalized terms used on this cover page not otherwise defined are defnncd herein or in the Resolution. The Series 2001 Bands are not subject to optional redemption prior to their stated maturitles. See "DESCRIPTION OF THE SERIES 2061 BONDS" herein. The Series 2001 Bonds are being issued to (i) finance, or reimburse the City for expenditures incurred for, the acquisition, construction or reconstruction of certain capital improvements to the City, including, but not limited to, a portion of the coats of constructins various capital improvements relating to road and bridge projects and a new main public library, as more particularly described herein underthe caption "THE SERIES 2001 PROJECTS," (u) make & deposit lathe Debt Service Reserve Fund to satisfy the Reserve Faced Requirrmeat witb respect to the Bonds, and (iii) pay expenses relative to the issuance and sale ofthe Series 2001 Bonds, including the premium for municipal bond insurance. The Series 2001 Bonds and the interest thereon tee payable solely from and secured by a lien upon the pledge of (i) the Public Service Tax sad (i) until applied in accordance with the provisions of the Ordinance, all moneys, including investments thereof, in the funds and accouats established underthe Ordinance, other than the Rebate Fund (collectively, the "Pledged Revenues'). See "SECURITY FOR THE SERIES 2001 BONDS" herein. The Series 2011 Bonds Ned the Interest tsereen dos not constitute a general Indebtedness either City or ¦ pledge oflts faith sad credit. but ere payable solely (rest the Pledged Revenues In the manaer provided is the Reselatlea. No holder ofsay Series 2001 Bond skull ever have the right to compel the exercise ofthe red vslares taalug power of the City to pay lack Series 2001 Rood, Interest thereon or be ealkled to payment of such Series 2101 toed, the interest thereon from any saeaeys of the City except the Pledged Reveries. The scheduled payment of principal of and intrastate the Bonds when due wig be guaranteed underan insurance policy to be issued concurrently with the delivery of the Bonds by (Insurer Name) For a discussion of the terms and provisions of such policy, including the limitations thereof, see'1NIJ NICIPAL BOND INSUYANCE" herein. [INSURER LOGO] The Series 2001 Bends are offered when, as and iflssued sad accepted by Ike Underwrltersubject to rise approval eflesalky by l,Tarst,AtIllerand 011re. P.A.,Tsllshsssw, Florida, Send CoNnsel. Cirtslm ether /#Sol indoors wll be passed upon for eke City by Psmele CA k", Esfwlre, Ciq Attersety, and by Nabors, Clb/la A Nickerson, P.A., Tampa. Florida, DisclosareCessseltethe City. Base ofAmsericaSecurities LLC,Clearwater, Florida IsservinsasFlnucislAfvissrtsthe Clty. ltlrexpected ahatthe Sirbrs3001leads, Is deffaldve beak-entryfirm, will be available for delivery thrsnsh DTC in New York, New rork on or obeat September .2001. WILLIAM Ile DOUGH & CO. Salomon Smith Barney, Inc September , 2001 • Preliminary, subject to change. CITY OF CLEARWATER, FLORIDA ELECTED OFFICIALS MAYOR - COMMISSIONER Brian J. Aungst, Sr. COMMISSIONERS Ed Hart Hoyt Hamilton Whitney Gray Bill Jonson APPOINTED OFFICIALS William B. Horne, II, Interim City Manager Pamela K. Akin, Esq., City Attorney Margaret L. Simmons, CPA, Financial Services Administrator BOND COUNSEL Bryant, Miller and Olive, P.A. Tallahassee, Florida FINANCLAL ADVISOR Banc of America Securities LLC Clearwater, Florida REGISTRAR AND PAYING AGENT [Registrar and Paying Agent] [Paying Agent Location] No dealer, broker, salesman or other person has been authorized by the City to give any information or to make any representations in connection with the Series 2001 Bonds other than as contained in this Official Statement, and, if given ormade, such information orrepresentations must not be relied upon as having been authorized by the City. This Official Statement does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the Series 2001 Bonds by any person in any jurisdiction in which it. is unlawful for such person to make such offer, solicitation or sale. The information set forth herein has been obtained from the City, the Bond Insurer and other sources which are believed to be reliable, but is not guaranteed as to accuracy or completeness, and is not to be construed as a representation by the City with respect to any information provided by others. The information and expressions of opinion stated herein are subject to change without notice, and neither the delivery of this Official Statement nor any sale made hereunder shall create, under any circumstances, any implication that there has been no change in the matters described herein since the date hereof. Other than with respect to information concerning [Insurer Name] ("[Insurer]") contained under the caption "MUNICIPAL BOND INSURANCE" and Appendix G "Specimen Bond Insurance Policy" herein, none of the information in this Official Statement has been supplied or verified by [Insurer] and [Insurer] makes no representation or warranty, express or implied, as to (i) the accuracy or completeness of such information; (ii) the validity of the Series 2001 Bonds; or (iii) the tax exempt status of the interest on the Series 2001 Bonds. IN CONNECTION WITH THIS OFFERING, THE UNDERWRITER MAY OVERALLOT OR EFFECT TRANSACTIONS THAT STABILIZE OR MAINTAIN THE MARKET PRICE OF THE SERIES 2001 BONDS AT LEVELS ABOVE THAT WHICH MIGHT OTHERWISE PREVAIL IN THE OPEN MARKET. SUCH STABILIZING, IF COMMENCED, MAY BE DISCONTINUED AT ANY TIME. All summaries herein of documents and agreements are qualified in their entirety by reference to such documents and agreements, and all summaries herein of the Series 2001 Bonds are qualified in their entirety by reference to the form thereof included in the aforesaid documents and agreements. NO REGISTRATION STATEMENT RELATING TO THE SERIES 2001 BONDS HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE COMMISSION (THE "COMMISSION") OR WITH ANY STATE SECURITIES COMMISSION. IN MAKING ANY INVESTMENT DECISION, INVESTORS MUST RELY ON THEIR OWN EXAMINATIONS OF THE CITY AND THE TERMS OF THE OFFERING, INCLUDING THE MERITS AND RISKS INVOLVED. THE SERIES 2001 BONDS HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE COMMISSION OR ANY STATE SECURITIES COMMISSION OR REGULATORY AUTHORITY. THE FOREGOING AUTHORITIES HAVE NOT PASSED UPON THE ACCURACY OR ADEQUACY OF THIS OFFICIAL STATEMENT. ANY REPRESENTATION TO THE CONTRARY MAY BE A CRIMINAL OFFENSE. [Remainder of page intentionally left blank] W TABLE OF CONTENTS Ew INTRODUCTION ............................................................. 1 PURPOSE OF THE SERIES 2001 BONDS , ...... ............................... 2 DESCRIPTION OF THE SERIES 2001 BONDS ... . ................................. 2 General ................................................................2 Book-Entry Only System ............................................... 3 Optional Redemption ..................................................... 5 Mandatory Redemption ... ............... , ................................. 6 .. , ...... ........................... b SECURITY FOR THE SERIES 2001 BONDS... Pledged Revenues .......................................................b Public Service Tax ..................... . ................................. 7 General ................................................................ 7 Historical Public Service Tax Receipts by Category ............................. 8 Repeal of Public Service Tax on Telecommunications Services .................... 9 Reserve Fund ........................ ................... . ............. 13 Additional Parity Obligations ........... ............................... 14 Covenants of the City .................. ................................ 15 Flow of Funds .............. ........ ................................. 15 REFUNDING PROGRAM ............................................. . .19 ESTIMATED SOURCES AND USES OF FUNDS ..... . ........................... 20 DEBT SERVICE SCHEDULE ...... . ........................................... 21 HISTORICAL AND PROJECTED DEBT SERVICE COVERAGE ............. ............................... 22 MUNICIPAL BOND INSURANCE ........... ................................... 22 TAX EXEMPTION ........................................................... 22 Federal Income Tax Matters ............................................. , 22 .Tax Treatment of Original Issue Discount .................................... 24 Tax Treatment of Bond Premium .......................................... 24 Florida Tax Matters ................ . .................................... 25 AUDITED GENERAL PURPOSE FINANCIAL STATEMENTS ....................... 25 INVESTMENT POLICY ....................................................... 25 ii l LITIGATION ........... ...............................,....................? 26 RATINGS ..................................................................26 LEGAL OPINIONS ...................................:.......................26 ENFORCEABILITY OF REMEDIES ............................................. 27 FINANCIAL ADVISOR .. ...................... ..............................27 VERIFICATION OF MATHEMATICAL COMPUTATIONS ......................... 27 UNDERWRITING ............................................................27 DISCLOSURE REQUIRED BY FLORIDA BLUE SKY REGULATIONS ............... 28 ADVISORS AND CONSULTANTS ............................................. 29 CONTINUING DISCLOSURE .................................................. 29 CERTIFICATE CONCERNING OFFICIAL STATEMENT ............................ 29 MISCELLANEOUS ..........................................................30 APPENDICES APPENDIX A APPENDIX B APPENDIX C APPENDIX D APPENDIX E APPENDIX F General Information Relating to the City of Clearwater, Florida Form of Ordinance Audited General Purpose Financial Statements of Clearwater, Florida for the Fiscal Year Ended September 30, 2000 Form of Bond Counsel Opinion Form of Continuing Disclosure Certificate Specimen Bond Insurance Policy ,¦ iii OFFICIAL STATEMENT relating to $12,000,000` CITY OF CLEARWATER, FLORIDA Improvement Revenue Refunding Bonds, Series 2001 INTRODUCTION The purpose of this Official Statement, which includes the cover page and the appendices attached hereto, is to f nnish information with respect to the issuance by the City of Clearwater, Florida (the "City") of its $12,000,000* aggregate principal amount of its Improvement Revenue Refunding Bonds, Series 2001 (the "Series 2001 Bonds") pursuant to Ordinance No. [ ], adopted by the City Commission on October [ ], 2001, as supplemented by Resolution No. [ ], adopted by the City Commission on October [ ], 2001 (the Ordinance, as so amended and supplemented is hereinafter referred to as the "Ordinance"). The Series 2001 Bonds are limited obligations of the City payable solely from and secured by a lien upon and a pledge of (i) the Public Service Tax and (ii) until applied in accordance with the provisions of the Ordinance, all moneys, including investments thereof, in the funds and accounts established under the Ordinance, other than the Rebate Fund (collectively, the "Pledged Revenues"). The. Series 2001 Bonds are subject to optional redemption and mandatory sinking fund redemption as described below under the caption "DESCRIPTION OF THE SERIES 2001 BONDS." Payment of the principal of and interest on the Series 2001 Bonds when due will be insured by a municipal bond insurance policy to be issued by [Insurer Name] (the "Bond Insurer") simultaneously with the delivery of the Series 2001 Bonds as described herein. For a discussion of the terms and provisions of such policy, including the limitations thereof, see "MUNICIPAL BOND INSURANCE" herein. Capitalized terms used but not defined herein have the same meaning ascribed thereto in the Ordinance unless the context would clearly indicate otherwise. Complete descriptions of the terms and conditions of the Series 2001 Bonds are set forth in the Ordinance, a copy of which is attached as Appendix C to this Official Statement. The description of the Series 2001 Bonds, the documents authorizing and securing the same, and the information from various reports and statements contained herein are not comprehensive or definitive. All references herein to such documents, reports and statements are qualified by the entire, actual content of such documents. Reports and statements referred to herein that are not included in their entirety in this Official Statement may be obtained from the City. 'Preliminary, subject.to change. 1 00 PURPOSE OF THE SERIES 2001 BONDS The Series 2001 Bonds are being issued to: (i) provide a portion of the funds necessary to defease the City's Outstanding Florida Public Service Tax and Bridge Revenue Bonds, Series 1985 (the "Series 1985 Bonds") and Improvement Revenue Bonds, Series 1995 (the "Series 1995 Bonds") (collectively, the 1985 Bonds and the 1995 Bonds are hereinafter referred to as the "Refunded Bonds"), (ii) make deposit to the Reserve Fund to satisfy the Reserve Fund Requirement with respect to the Bonds, and (iii) pay expenses related to the issuance and sale of the Series 2001 Bonds, including the premium for municipal bond insurance. DESCRIPTION OF THE SERIES 2001 BONDS General The Series 2001 Bonds are being issued in fully registered form, without coupons, in the denominations of $5,000 each or integral multiples thereof, will be dated and will bear interest at the rates and mature on February 1 of the years and in the amounts as shown on the cover page of this Official Statement. Interest on the Series 2001 Bonds will be payable on each August I and February 1, commencing August 1, 2002. The Series 2001 Bonds will be initially issued in the form of a single fully registered Bond for each maturity ofthe Series 2001 Bonds. Upon initial issuance, the ownership of each such Series 2001 Bonds will be registered in the registration books kept by the Bond Registrar, [Registrar and Paying Agent), [Paying Agent Location), in the name of Cede & Co., as nominee of The Depository Trust Company, New York, New York ("DTC"). While held in book-entry form, all payments of principal and interest on the Series 2001 Bonds will be made to DTC or the DTC Nominee as the sole registered owner of the Series 2001 Bonds and payments to Beneficial Owners will be the responsibility of DTC and the DTC Participants as described below. See "Book-Entry Only System." With respect to Series 2001 Bonds registered in the name of Cede & Co., as nominee of DTC, neither the City, nor the Paying Agent will have any responsibility or obligation to any DTC Participant or to any indirect DTC Participant. See "Book-Entry Only System" for the definition of "DTC Participant." Without limiting the immediately preceding sentence, neither the City nor the Bond Registrar and the Paying Agent will have any responsibility or obligation with respect to: (i) the accuracy of the records of DTC or any DTC Participant with respect to any ownership interest in the Series 2001 Bonds; (ii) the delivery to any DTC Participant or any other person other than a registered owner, as shown in the registration books kept by the Bond Registrar, of any notice with respect to the Series 2001 Bonds, including any notice of redemption; or (iii) the payment to any DTC Participant or any other person, other than a registered owner, as shown in the registration books kept by the Bond Registrar, of any amount with respect to principal of or interest on the Series 2001 Bonds. The City, the Bond Registrar and the Paying Agent may treat and consider the person in whose name each Series 2001 Bonds is registered in the registration books kept by the Bond Registrar as the holder and absolute owner of such Bond for the purpose of payment of principal of and interest with respect to such Bond, for the purpose of giving notices of redemption and other 2 FJ matters with respect to such Bond, for the purpose of registering transfers with respect to such Bond, and for all other purposes whatsoever. The Paying Agent will pay all principal of and interest on the Series 2001 Bonds only to or upon the order of the respective registered owners, as shown in the registration books kept by the Bond Registrar, or their respective attorneys duly authorized in writing, as provided in the Ordinance, and all such payments will be valid and effectual to satisfy and discharge the City's obligations with respect to payment of principal of and interest on the Series 2001 Bonds to the extent of the sums so paid. No person other than a registered owner, as shown in the registration books kept by the Bond Registrar, will receive a certificated Bond evidencing the obligation of the City to make payments of principal of and interest on the Series 2001 Bonds pursuant to the provisions of the Ordinance. Book-Entry Only System The Series 2001 Bonds will be available in book-entryform only, in denominations of $5,000 or any integral multiple thereof. Purchasers of the Series 2001 Bonds will not receive certificates representing their interests in the Series 2001 Bonds purchased. The Underwriter is to confirm original issuance purchases with statements containing certain terms of the Series 2001 Bonds purchased. The following information regarding The Depository Trust Company, New York, New York ("DTC") and the book-entry only system of registration has been obtained by the City from DTC. No representation is made by the City as to its accuracy or correctness. The Series 2001 Bonds will be held by DTC as securities depository. The ownership of one fully registered Series 2001 Bonds for each maturity, as set forth on the cover page hereof, will be registered in the name of Cede & Co., as nominee for DTC. DTC is a limited-purpose trust company organized under the New York Banking Law, a "banking organization" within the meaning of the New York Banking Law, a member of the Federal Reserve System, a "clearing corporation" within the meaning of the New York Uniform Commercial Code, and a "clearing agency" registered pursuant to the provisions of Section 17A of the Securities Exchange Act of 1934, as amended. DTC was created to hold securities of its participants ("DTC Participants") and to facilitate the settlement of securities transactions among DTC Participants in such securities through electronic computerized book-entry changes in accounts of the DTC Participants, thereby eliminating the need for physical movement of securities certificates. Direct Participants include securities brokers and dealers, banks, trust companies, clearing corporations, and certain other organizations, some of which own DTC either directly or through their representatives. Access to the DTC system is also available to other entities such as security brokers and dealers, banks and trust companies that clear through or maintain a custodial relationship with a DTC Participant. Purchases of the Series 2001 Bonds may be made by or through brokers and dealers who are, or act through, DTC Participants. Such DTC Participants and the persons for whom they acquire interests in the Series 2001 Bonds as nominees will not receive certificated bonds, but each DTC Participant will receive a credit balance in the records of DTC in the amount of such DTC Participant's interest in the Series 2001 Bonds, which will be confirmed in accordance with DTC's standard procedures. The ownership interest of the actual purchaser of each Bond (the "Beneficial Owner") will be recorded in the records of the DTC Participant. DTC Participants are required to 3 provide Beneficial Owners with a written confirmation of their purchase cnntaining details of the acquired Series 2001 Bonds. Transfers of ownership interests in the Series 2001 Bonds will be accomplished by book entry made by DTC and by the DTC Participants who act on behalf of the Beneficial Owners. The Paying Agent will make payments of principal of and interest on the Series 2001 Bonds to DTC or its nominee, Cede & Co., as registered owner of the Series 2001 Bonds, The current practice of DTC is to credit the accounts of the DTC Participants immediately upon receipt of moneys in accordance with their respective holdings as shown on the records ofDTC. Payments by DTC Participants to Beneficial Owners will be in accordance with standing instructions and customary practices such as those which are now in effect for municipal securities held by DTC Participants in bearer form or registered in "street name" for the accounts of customers, and will be the responsibility of DTC Participants and not the responsibility of DTC, the Paying Agent or the City subject to any statutory or regulatory requirements as may be in effect from time to time. The Bond Registrar, the Paying Agent and the City will send any notice of redemption or other notice only to DTC. Any failure of DTC to advise any DTC Participant, or of any DTC Participant to notify the Beneficial Owner, of any such notice and its content or effect will not affect the validity of the redemption of the Series 2001 Bonds called for redemption or of any other action premised on such notice. Redemption of portions of any maturity of the Series 2001 Bonds will reduce the outstanding principal amount of such maturity held by DTC. In such event, DTC may implement, through its book-entry system, a redemption of Series 2001 Bonds held for the account of DTC Participants in accordance with its own rules or other agreements with DTC Participants, and then DTC Participants may implement a redemption of Series 2001 Bonds for the Beneficial Owners. NEITHER THE CITY NOR THE BOND REGISTRAR OR THE PAYING AGENT WILL HAVE ANY RESPONSIBILITY OR OBLIGATION TO DTC PARTICIPANTS OR THE PERSONS FOR WHOM DTC PARTICIPANTS ACT AS NOMINEES WITH RESPECT TO THE SERIES 2001 BONDS OR THE PROVIDING OF NOTICE OR PAYMENT TO DTC PARTICIPANTS OR BENEFICUL OWNERS ORTHE SELECTION OF SERIES 2001 BONDS FOR REDEMPTION. In the event of an insolvency of DTC, if DTC has insufficient securities in the fungible bulk of securities in its custody (e.g., due to theft or loss) to satisfy the claims of DTC Participants with respect to deposited securities and is unable by application of (i) rash deposits and securities pledged to DTC to protect DTC against losses and liabilities; (ii) the proceeds of insurance maintained by DTC and/or DTC Participants; or (iii) other resources, to obtain securities necessary to eliminate the insufficiency, DTC Participants may not be able to obtain all of their deposited securities. The City, the Bond Registrar and the Paying Agent cannot give any assurances that DTC, DTC Participants or others will distribute payments of principal of and interest on the Series 2001 Bonds paid to DTC or its nominee, or any redemption or other notices to the Beneficial Owners or that they will do so on a timely basis or that DTC will serve or act in a manner described in this Official Statement. 4 DTC may determine to discontinue providing its services with respect to the Series 20n1 Bonds at any time by giving notice to the City and discharging its responsibilities with respect thereto under applicable law. In addition, the City may determine to discontinue the use of book- entry transfers through DTC (or any successor securities depository). Under such circumstances, the City and the Bond Registrar will authenticate and deliver certificated Series 2001 Bonds. In the event that the book-entry only system is discontinued, the following provisions will govern the transfer and exchange of Series 2001 Bonds. The Series 2001 Bonds will be exchanged for an equal aggregate principal amount of corresponding bonds in other authorized denominations and of the same series and maturity, upon surrender thereof at the principal corporate trust office of the Bond Registrar. The transfer of any Series 2001 Bonds will be registered on the books maintained by the Bond Registrar for such purpose only upon the surrender thereof to the Bond Registrar with a duly executed written instrument of transfer in form and with guaranty of signatures satisfactory to the Bond Registrar, containing written instructions as to the details of transfer of such Series 2001 Bonds, along with the social security number or federal employer identification number of such transferee. The City and the Bond Registrar may charge the registered owners a sum sufficient to reimburse them for any expenses incurred in making any exchange or transfer after the first such exchange or transfer following the delivery of the Series 2001 Bonds. The Bond Registrar or the City may also require payment from the registered owners or their transferees, as the case may be, of a sum sufficient to cover any tax, fee or other governmental charge that may be imposed in relation thereto. Such charges and expenses shall be paid before any such new Series 2001 Bonds shall be delivered. Neither the City nor the Bond Registrar shall be required to register the transfer or exchange of any Series 2001 Bonds during the period commencing on the fifteenth day (whether or not a business day) of the month next preceding an interest payment date and ending on such interest payment date or, in the case of any proposed redemption of a Series 2001 Bonds, after such Series 2001 Bonds or any portion thereof has been selected for redemption. Optional Redemption The Series 2001 Bonds maturing February 1, to February, are not callable prior to their maturity dates. The Series 2001 Bonds maturing after February, are subject to optional redemption by the City, on and after February, as a whole at any time, or in part on any Interest Payment Date thereafter, from the maturities selected by the City, and by lot within a maturity if less than an entire maturity is redeemed, at the redemption prices (expressed as percentages of principal amount) set forth below, together with accrued interest to the date of redemption: Redemption Period Price February, through January 31, February, through January 31, February, and thereafter 5 Mandatory Redennpdon The Series 2001 Bonds maturing on February, will be subject to mandatory redemption prior to maturity, by lot, in such manner as the Registrar maydecm appropriate, at a redemption price equal to the Compound Accreted Value thereof on the redemption date, on February, , and on each February thereafter, in the following principal amounts in the years specified: Amortization Amortization Year Installment Year Installment *Final maturity The Series 2001 Bonds maturing on February, will be subject to mandatory redemption prior to maturity, by lot, in such manner as the Registrar may deem appropriate, at a redemption price equal to the Compound Accreted Value thereof on the redemption date, on February, , and on each February thereafter, in the following principal amounts in the years specified: Amortization Amortization Year Installment Year Installment *Final maturity As long as the book-entry-only system is used for determining beneficial ownership of the Series 2001 Bonds, notice of redemption will only be sent to Cede & Co. Cede & Co. will be responsible for notifying the DTC Participants, who will in turn be responsible for notifying the Beneficial Owners (as such terms are described below under the heading "Book-Entry Only System"). Any failure of Cede & Co. to notify any DTC Participant, or of any DTC Participant to notify the Beneficial Owner of any such notice, will not affect the validity of the redemption of the Series 2001 Bonds. 6 SECURITY FOR THE SERIES 2001 BONDS Pledged Revenues The Series 2001 Bonds are limited obligations of the City payable solely from and secured by a lien upon and a pledge of (i) the Public Service Tax and (ii), except for testing the amount of Pledged Revenues in connection with the issuance of Additional Bonds in accordance with the Ordinance, until applied in accordance with the provisions of this Ordinance, all moneys, including investments thereof, in the funds and accounts established hereunder, other than the Rebate Fund (collectively, the 'Pledged Revenues"). The Series 2001 Bonds and the interestthereon do not constitute a general indebtedness of the City or a pledge of its faith and credit, but are payable solely from the Pledged Revenues in the manner provided in the Ordinance. No Holder of any of the Series 2001 Bonds shall ever have the right to compel the exercise of the ad valorem taxing power of the City to pay the Series 2001 Bonds or interest thereon or be entitled to payment of the Series 2001 Bonds or interest thereon from any moneys of the City except the Pledged Revenues. Public Service Tax General Section 166.231, Florida Statutes, as amended, authorizes any Florida municipality to levy a tax on the purchase within such municipality of electricity, metered or bottled gas (natural, liquid petroleum gas, or manufactured), water service, as well as other services defined by ordinance competitive with those specifically enumerated above. Currently, the tax on the foregoing services may not exceed ten percent (10%) of the payments received by the sellers of such utilities service from purchasers (except in the case of fuel oil for which the maximum tax is four cents per gallon). In. addition, municipalities may levy a tax on purchases within the municipality of telecommunications service which originate and terminate in the State of Florida, at a rate of not to exceed seven percent (7%) of the total amount charged. "Telecommunications service" includes telephone, telegram or telegraph, pagers, "beepers," and any other form of mobile communication. The purchase of gas or fuel oil by a utility for resale or for use as a fuel in the generation of electricity or the purchase of fuel oil or kerosene for use in aircraft or internal combustion engines are exempt from the levy of such utilities tax, as are fuel adjustment charges and purchases by any recognized church in Florida for use exclusively for church purposes. A municipality may exempt from the public service tax up to the first 500 kilowatts of electricity per month purchased for residential use. In addition, a municipality may exempt 50% of the purchases subject to the public service tax for businesses located within an enterprise zone. A municipality may also exempt purchases by the United States 7 Government, the State, or other public bodies from the levy of such tax as well as certain nonprofit corporations, cooperative associations and churches. Public service taxes must be collected by the seller of the utilities service from purchasers at the time of sale and remitted to the taxing municipality as prescribed by ordinance of the municipality. Municipalities levying public service taxes must provide written notification to the respective utility companies of any change in the boundaries of the municipality or the rate of taxation levied on such utilities services. As used in the Bond Ordinance and herein, the term "Public Service Tax" means the taxes imposed and levied by the City as authorized by Section 166.231, Florida Statutes. The City has covenanted in the Bond Ordinance that it will take all action permitted by law to collect the Public Service Tax proceeds in the amount necessary to meet the requirements under the Bond Ordinance. Article III entitled "Public Service Tax" is found at Chapter 29 in the City's Code of Ordinances, as amended (the "City Code"). This article contains the terms of the City's levy of its Public Service Tax. The City currently levies the Public Service Tax at the rate of ten percent (10%) of payment received by seller on sales of electricity, gas, and water service, four cents per gallon of every gallon on the sale of fuel oil, and seven percent (7%) on sales of telecommunication services within the City. Exempted from the City's Public Service Tax are: (a) Federal, state and local governments, agencies thereof and churches, (b) purchase of telecommunication service for hire or resale, (c) purchases of fuel oil for aircraft; and (d) various other miscellaneous exemptions listed in Section 29.76 of the City Code. The City Commission is solely responsible for setting or revising the Public Service Tax it levies within the limits of Section 166.231, Florida Statutes, which it accomplishes through the ordinances relating to the Public Service Tax. MSTORICAL PUBLIC SERVICE TAX RECEIPTS BY CATEGORY (Unaudited) I Electric Telecommu*sdons u Ca Ca , Water Total 1993 $ 6,264,393 $ 2,726,069 S 525,306 S 1,224,848 S 10,740,616 J 19% 6,898,861 3,120,017 548,617 1,264,070 11,831,565 1995 7,359,147 3,567,656 553,098 1,256,381 12,736,282 1996 7,848,826 3,608,054 513,371 1,381,363 13,351,613 1997 7,668,482 3,936,764 519,848 1,432,263 13,557,358 1998 8,124,584 4,547,192 543,527 1,414,816 14,630,119 1999 8,187,061 5,013,904 513,716 1,523,475 15,238,156 20000 8,095,782 5,034,322 578,402 1,534,088 15,242,594 • 2000 Total does not equal the City's Comprehensive Annual Financial Report due to a late reversal. (1) See "Repeal of Utilities Service Tax or Telecommunications Services" below. j 8 Repeal of Public Service Tax on Telecommunications Services In its regular 2000 legislative session, the Florida Legislature passed the "Communications Services Simplified Tax Act", Chapter 2000-260, Laws of Florida (the "CST Statute"), reforming the collection of local taxes on telecommunications and cable services. Among its provisions, the CST Statute repeals, effective October 1, 2001, subsection (9) of the UST Statute, which authorizes a local public service tax on telecommunications. The legislation creates a new simplified tax structure for communications services which is codified in a new Chapter 202, Florida Statutes. It combines seven different state and local taxes or fees (including fees imposed upon providers of communications services by municipalities and counties for granting permission to use or occupy roads or rights of way for the placement of poles, wires and other fixtures) and replaces these revenues with a two tiered tax composed of a state tax and a local option tax on communications services. The new tax structure became effective October 1, 2001. Those portions of the Public Service Tax which are derived from telecommunications services are impacted by the CST Statute. The new local option tax on communication services provided for in the CST Statute (the "New Communications Tax") is intended to replace those and other revenues presently received by governmental entities from the imposition of taxes and fees on telecommunication and cable services. Section 54 of the CST Statute specifically states "Revenue received by a taxing authority under this act shall be deemed to replace any taxes or fees previously imposed but repealed by this act without any further action on the part of such taxing authority." Because of the adoption of the CST Statute, the definition of Public Service Tax has been amended in the Ordinance to include the following additional provisions: "To the extent that the Public Service Tax receipts derived by the City pursuant to Section 166.231(9), Florida Statutes, is eliminated as a result of the provisions of Chapter 2000-260, Laws of Florida, all of the revenues received by the City pursuant to the provisions of Chapter 2000-260, Laws of Florida, shall be deemed to replace the Public Service Tax receipts so eliminated and shall be included within the definition of "Public Service Tax" in the Ordinance and will be subject to the lien on and pledge of the Pledged Revenues granted in the Ordinance without any fiuther action on the part of the City." The following outlines certain provisions of the CST Statute. As noted above, the CST Statute is extensive and the following descriptions are not, and are not intended to be, comprehensive or exhaustive. The full text of the CST Statute is available on the Florida Legislature°s website which can be accessed through http://vm-w.leg state.fl.us/by reviewing the 2000 Digest of General Laws contained therein and accessing Chapter 2000.206. Tex Base. The New Communications Tax is imposed on a broad base of telecommunications and cable services and does not discriminate between services or providers. The definition of "communications services" references the transmission of voice, data, audio, video, or any other information or signals, including cable services, by or through any medium or method currently in 9 existence or hereafter devised, including electronic, radio, satellite, cable, optical, and microwave. Section 202.11(3), Florida Statutes. The definition excludes: "information services" (which is separately defined); the installation or maintenance of wiring or equipment on a customer's premises; the sale or rental of tangible personal property; the sale of advertising; bad check and late payment charges; billing and collection services; and Internet access and related on-line services. Section 202.11(3), Florida Statutes. New Communications Tax. Effective October 1, 2001, the New Communications Tax automatically became effective at rates developed by using local government and industry data from 1999. (The revenues being replaced by the New Communications Tax are referred to as the "replaced revenue sources"). While calendar year 1999 data is being used to establish rates to be implemented in 2001, local governments are not expected (although there is no assurance) to experience any decrease in revenues because the rates developed will be applied to taxable transactions occurring in the year 2001. After 2001, while the rate being applied is based on information from 1999, the amount of revenues generated is not limited to the amount of revenue generated in 1999. Thereafter, municipalities will have the authority to alter by ordinance the rates of the New Communications Tax up to a maximum tax rate which duplicates their maximum revenue raising capacity under current law. Municipalities will have a uniform maximum tax rate. Section 202.19, Florida Statutes. A municipality will not have a lower or different maximum tax rate if it has not actually exercised its maximum revenue raising capacity. So, under the CST Statute, a municipality need not take any action to increase or preserve its maximum tax rate authority. For municipalities, the replaced revenue sources consist of. the municipal public service tax on telecommunications, including pre-paid calling arrangements; franchise fees on cable and telecommunications service providers; and permit fees relating to placing or maintaining facilities in rights-of-way collected from providers of certain telecommunications services. Sections 202.19, 202.20 (4), Florida Statutes. The tax imposed by a municipality will apply to communications services that originate or terminate in Florida and are charged to a service address in the municipality. As noted above, that portion of the Public Service Tax which is derived from telecommunications services will be considered replaced by the revenue received by the City under and in accordance with the CST Statute. Tax Rates. The CST Statute establishes a Revenue Estimating Conference (the "REC") that was tasked with determining several new tax rates at the state and local government levels. The REC was required by the CST Statute to make rate recommendations to the Legislature before December 31, 2000, for consideration during the 2001 Regular Session, which recommendations were made in March 2001. . At the local level, the REC was required to develop two tax rates: (1) an individual conversion or "initial" rate for each municipality; and (2) a maximum or "revenue capacity" rate that will be the same for all municipalities. The conversion or "initial" rate will vary for each municipality based on the amount of revenues to be replaced and the tax base within each individual municipality. The conversion or "initial" rate for each municipality is designed to accomplish two main goals. First, such rate is supposed to permit a smooth transition at the local level by eliminating the necessity to re-enact or adopt various new tax rates due to the changes created by the Legislature. Second, such rate is supposed to account for varying consumption patterns in some 10 jurisdictions. It is possible that the conversion rate in certain jurisdictions will exceed the maximum rate established by the Legislature. Conversion or "initial" rates will become effective automatically on October 1, 2001. Section 202.20(1), Florida Statutes. The REC was required by the CST Statute to calculate maximum or "revenue capacity" rates for local governments. The maximum rates will duplicate the current "capacity" of the replaced revenue sources, so that jurisdictions which currently levy taxes and fees at less than the legal maximums will not experience a reduction in revenue raising authority. On or before September 30, 2000, each municipality was required to provide specific information for each replaced revenue source to the Department of Revenue. Pursuant to the CST Statute, this information was to be compiled and presented to the REC for use in making proposed tax rates to the Legislature. Communications services providers were also required to provide specified information to the Department of Revenue to determine the new tax base. Additionally, these companies were required to provide this information in a format that recognized individual local government boundaries. Section 202.20, Florida Statutes. The replaced revenue sources for municipalities are: the municipal public service tax on telecommunications as authorized by Section 166.231(9), Florida Statutes; franchise fees on cable service providers; the municipal public service tax on prepaid calling arrangements; fraiichise fees on communications services providers which use the public roads or rights-of-way, up to the limits set forth in section 337.401, Florida Statutes; and permit fees collected from providers of long distance, cable, and mobile communications services unless the municipality or charter county elects the option to charge permit fees. Section 202. 20(4), Florida Statutes. Rate recommendations by the REC, in the form of proposed legislation, were approved by the Florida Legislature during its regular 2001 legislative session in the form of Enrolled CS/CS/SB 1878 (the "Amended CST Statute"). The Governor has signed this legislation. The rate (i.e., the rate applicable between October 1, 2001 and September 30, 2002) for the City under the Amended CST Statute is 5.28% and the ongoing rate (i.e., the rate applicable from and after October 1, 2002) for the City is 5.0%. Since the City elected not to charge permit fees related to the installation and maintenance of wires on its rights-of-way, pursuant to the Amended CST Statute these rates will be increased by 0.12% effective October 1, 2001. The City may also exceed the maximum rate if necessary in order for the City to maintain its collection of the same annual dollar amount from and after October 1, 2001, that it received for the fiscal period ending September 30, 2001. Emergency Rates. Realizing that the data for the conversion or "initial" rates may not be accurate for each jurisdiction or certain unique consumption patterns may exist, the CST Statute authorizes a municipality to exercise emergency taxing authority by ordinance if needed to replace any revenues. If during any calendar quarter beginning with December 31, 2001, and ending with September 30, 2002, any local taxing jurisdiction receives less revenues than the revenues received from the replaced revenue sources for the corresponding 2000-2001 period, the local governing authority may adjust the rate upward. An upward adjustment can also be made for the reasonably anticipated growth in revenues over the preceding one-year period based on the average growth of such revenues over the immediately preceding five-year period. Rates set by emergency ordinance may even exceed the maximum rate if the standards for the emergency rate are met. The emergency 11 ordinance implementing a rate change must specify the effective date for the adjusted rate, which can be no less than 90 days after the date of adoption of the ordinance. The CST Statute also requires a reduction in rates once any lost revenues are recouped. Section 202.20(1)(c), Florida Statutes. Internet Services. In the CST Statute, the Legislature continued its non-tax policy regarding internet access services and awaits action by Congress to lift such restrictions. However, the existing policy to tax ail communications services sold together or "bundled", including Internet services, will be applied under the New Communications Tax. This policy is identified in section 202.11(14)(b)7., Florida Statutes. Assi ent of Customers for Local Taxes. One of the features regarding the local communications services tax is the concept of "situsing" or identifying taxable transactions within a particular municipality or unincorporated area. Local governments must work with the Department of Revenue to properly identify service addresses to each municipality and county. If municipalities fail to provide the Department of Revenue with accurate service address information, the municipality or county risks losing tax proceeds that it should properly receive. To the knowledge of the City, it has as of the date of this Official Statement provided the Department of Revenue with all information that the Department of Revenue has requested. Compensation Df Providers. Providers filing timely returns will retain an allowance of .75 percent of collections, except that it will be .25 percent for providers who do not employ an enhanced zip code database or a database that is either supplied or certified by the Department of Revenue for assigning customers for local tax purposes. Sections 202.22(6), 202.28, Florida Statutes. Registration and Resale Certificates. Effective October 1, 2001, each provider of communications services must be registered with the Department. Some contents of the application are specified in the bill, others may be added by Department of Revenue rule. The Department of Revenue will issue a certificate of registration, and also an annual resale certificate (similar to the current sales tax mechanism). Section 202.17, Florida Statutes. The CST Statute allows the Department of Revenue rulemaking authority regarding registration. Section 202.26(3)(h), Florida Statutes. . Department Rulemakine. Throughout the CST Statute there are provisions authorizing rulemaking by the Department of Revenue. Emergency rulemaking (which occurs on an expedited basis) is also authorized. Section 202.26(4), Florida Statutes. Potential Challenges to the CST Statute. It is the City's understanding that certain Florida local governments may be considering challenging the legality of the CST Statute as it applies to local governments within the State. Because no formal legal actions have been filed to date, no predictions or determinations can be made regarding whether any legal challenges will be filed or as to the possible outcome of any legal challenges, if initiated. If the CST Statute were not to become effective due to such a legal challenge, or if it were to be held invalid by a court, it is likely that the existing UST Statute would remain in effect with res iect to the tax on telecommunications services, and the language of the CST Statute expressly provides that such would be the case. 12 ordinance implementing a rate change must specify the effective date for the adjusted rate, which can be no less than 90 days after the date of adoption of the ordinance. The CST Statute also requires a reduction in rates once any lost revenues are recouped. Section 202.20(1)(c), Florida Statutes. Internet Services. In the CST Statute, the Legislature continued its non-tax policy regarding internet access services and awaits action by Congress to lift such restrictions. However, the existing policy to tax all communications services sold together or "bundled", including Internet services, will be applied under the New Communications Tax. This policy is identified in section 242.11(14)(b)7., Florida Statutes. Assi ent of Customers for Local Taxes. One of the features regarding the local communications services tax is the concept of "situsing" or identifying taxable transactions within a particular municipality or unincorporated area. Local governments must work with the Department of Revenue to properly identify service addresses to each municipality and county. If municipalities fail to provide the Department of Revenue with accurate service address information, the municipality or county risks losing tax proceeds that it should properly receive. To the knowledge of the City, it has as of the date of this Official Statement provided the Department of Revenue with all information that the Department of Revenue has requested. Compensation.Qf Providers. Providers filing timely returns will retain an allowance of .75 percent of collections, except that it will be .25 percent for providers who do not employ an enhanced zip code database or a database that is either supplied or certified by the Department of Revenue for assigning customers for local tax purposes. Sections 202.22(6), 202.28, Florida Statutes. Registration and Resale Certificates, Effective October 1, 2001, each provider of communications services must be registered with the Department. Some contents of the application are specified in the bill, others may be added by Department of Revenue rule. The Department of Revenue will issue a certificate of registration, and also an annual resale certificate (similar to the current sales tax mechanism). Section 202.17, Florida Statutes. The CST Statute allows the Department of Revenue rulemaking authority regarding registration. Section 202.26(3)(h), Florida Statutes. Department Rulemakiing. Throughout the CST Statute there are provisions authorizing rulemaking by the Department of Revenue. Emergency rulemaking (which occurs on an expedited basis) is also authorized. Section 202.26(4), Florida Statutes. Potential Qhallenges to the C T SIANU. It is the City's understanding that certain Florida local governments may be considering challenging the legality of the CST Statute as it applies to local govemments within the State. Because no formal legal actions have been filed to date, no predictions or determinations can be made regarding whether any legal challenges will be filed or as to the possible outcome of any legal challenges, if initiated. If the CST Statute were not to become effective due to such a legal challenge, or if it were to be held invalid by a court, it is likely that the existing UST Statute would remain in effect with respect to the tax on telecommunications services, and the language of the CST Statute expressly provides that such would be the case. 12 Fa or Affecting Public Service Tax. The amount of Public Service Tax collected by the City may fluctuate as the price of gas and electricity fluctuates. Historically, the City has experienced decreases in collections of taxes associated with the sale of gas and electricity as costs of such items increase. A sustained increase in the costs of gas or electricity may have a materially adverse effect on the amount of Public Service Tax collected. The amount of Public Service Tax collected by the City may also be affected by changes in the electric utility industry. The electric utility industry in general has been, or in the future may be, affected by a number of factors which could have a materially adverse impact upon the financial condition of an electric utility. Such factors include, among others: (i) effects of inflation on the operating and maintenance costs of an electric utility and its facilities, (ii) changes from projected future load requirements, (iii) increases in costs and uncertain availability of capital, (iv) shifts in the availability and relative costs of different fuels, (v) effects of compliance with rapidly changing environmental, safety, licensing and regulatory requirements, (vi) changes resulting from conservation and demand side management programs on the timing and use of electric energy, (vii) changes that might result from a national energy policy and (viii) effects of open retail competition from other suppliers of electricity through de-regulation. Any of these factors could have a material adverse effect on the financial condition of any electric utility and likely would affect individual utilities in different ways. In turn these factors could reduce the amount of Public Service Tax collected based upon a reduction in the use of electric energy and/or a reduction in electric energy charges. Reserve Fund The Ordinance provides for the Reserve Fund for the Bonds to be funded in an amount equal to the Reserve Requirement, which is defined to mean the lesser of. (i) the Maximum Bond Service Requirement; (ii) 125% of the Average Bond Service Requirement, or (iii) the largest amount as shall not adversely affect the exclusion of interest on the Series 2001 Bonds from gross income for federal income tax purposes. Amounts on deposit in the Reserve Fund will be used only for payment of principal of and interest on the Bonds when other moneys in the Debt Service Fund are insufficient therefor. Any withdrawals from the Reserve Fund will be restored from the first moneys available in the Revenue Fund after all required payments to the Debt Service Fund (including all deficiencies in prior required payments therefrom) have been made in full. Additional Parity Obligations No Additional Parity Obligations will be issued unless the following conditions are complied with: (1) There has been obtained and filed with the Clerk a certificate of the Finance Director stating: (a) that the books and records of the City relative to the Public Service Tax Revenues portion of the Pledged Revenues have been reviewed; (b) setting forth the amount of the Public Service Tax Revenues portion of the Pledged Revenues derived for any consecutive twelve (12) months out of the preceding twenty-four (24) months preceding the date of issuance of the 13 proposed Additional Parity Obligations adjusted as described below; (c) that the aggregate amount of such Public Service Tax Revenues portion of the Pledged Revenues, is equal to not less than 120% (or such other percentage as may be set forth in a subsequent resolution of the City adopted prior to the issuance of the Series 2001 Bonds) of the Maximum Bond Service Requirement becoming due in any Bond Year thereafter on (i) all Bonds issued under the Ordinance then Outstanding, and (ii) on the Additional Parity Obligations with respect to which such certificate is made. (2) Upon recommendations of the Finance Director and to the extent adopted in a subsequent resolution of the City, if there is an estimated increase in Public Service Tax Revenues portion of the Pledged Revenues to be received by the City as a result of a change in law to provide for additional Public Service Tax Revenues to be levied and collected by the City, then the Public Service Tax Revenues portion of Pledged Revenues certified as described above will be increased by the projected increase in Public Service Tax Revenues to be distributed as if such excess Public Service Tax Revenues were in fact available to the City during the applicable twelve month period. (3) Additional Parity Obligations will be deemed to have been issued pursuant to the Ordinance the same as the Outstanding Bonds, and all of the other covenants and other provisions of the Ordinance (except as to details of such Additional Parity Obligations inconsistent therewith) will be for the equal benefit, protection and security of the Holder of all Bonds issued pursuant to the Ordinance. Except as described under this subcaption, all Bonds, regardless of the time or times of their issuance, will rank equally with respect to their lien on the Pledged Revenues and their sources and security for payment therefrom without preference of any Bonds over any other. (4) In the event that the total amount of Bonds herein authorized to be issued are not issued simultaneously, such Bonds which are subsequently issued will be subject to the conditions described under this subcaption. (5) The City need not comply with the provisions of paragraph 1 above if and to the extent the Additional Parity Obligations to be issued are refunding bonds, and if the City causes to be delivered a certificate of the Finance Director setting forth the annual debt service (i) for the Bonds then Outstanding and (ii) for all Bonds to be immediately Outstanding after the issuance of such Additional Parity Obligations and stating that the Bond Service Requirement in any year pursuant to (ii) above is not greater than the Bond Service Requirement in the corresponding year set forth pursuant to (i) above. (6) The City will not be in default in the carrying out of any of the obligations assumed under the Ordinance and no event of default will have occurred under the Ordinance and will be continuing, and all payments required by the Ordinance to be made into the funds and accounts established hereunder will have been made to the full extent required. (7) The resolution authorizing the issuance of the Additional Parity Obligations will recite that all of the covenants described above will be applicable to such Additional Parity Obligations. 14 Covenants of the City The City covenants in the Ordinance to do all things necessary on its part to continue the levy and collection of the Public Service Tax (the definition of which includes the Communication Services Tax) at the rate permitted by and in compliance with Section 166.231, Florida Statutes, and Article III, Chapter 44, Code of Ordinances of the Issuer, and any successor provision of law. All such Pledged Revenues shall, as collected, be held in trust to be applied as herein provided. Flow of Funds All revenues in the Revenue Fund, shall be disposed of monthly, but not later than the twenty-fifth (25th) day of each month commencing in the month immediately following the delivery of the initial series of Bonds, for so long as any Bonds remain Outstanding, only in the following manner and the following order of priority: (1) The City shall first deposit into the Bond Service Fund and credit to the following accounts, in the following order (except that payments in the Principal Account and the Redemption Account shall be on a parity with each other), the following identified sums: (a) Interest Account: Such sum as will be sufficient to pay one-sixth (1/6th) (or such higher monthly amount on a prorated basis) of all interest coming due on all Outstanding Bonds on the next interest payment date, together with any fees and charges of the Paying Agent and Registrar therefor; provided, however, that monthly deposits of interest, or portions thereof, shall not be required to be made to the extent that money on deposit within such Interest Account is sufficient for such purpose. In the event the City has issued Variable Rate Bonds pursuant to the provisions of the Ordinance, Public Service Tax Revenues shall be deposited at such other or additional times and amounts as necessary to pay any interest coming due on such Variable Rate Bonds on the next interest payment date, all in the manner provided in a supplemental resolution of the City. Any monthly payment out of Public Service Tax Revenues to be deposited as set forth above, for the purpose of meeting interest payments for any Series of Bonds, shall be adjusted, as appropriate, to reflect the frequency of interest payment dates applicable to such Series. Moneys in the Interest Account may be used only for the purposes set forth in this paragraph. (b) Principal Account: Such sum as will be sufficient to pay one-twelfth (1/12th) (or such higher monthly amount on a prorated basis) of the principal amount of the Outstanding Bonds which will mature and become due on such annual maturity dates beginning in the month which is twelve (12) months prior to the first principal maturity date; provided, however, that monthly deposits for principal, or portions thereof, shall not be required to be made to the extent that money on deposit within such Principal Account is sufficient for such purpose. Any monthly payment out of Public Service Tax Revenues to be deposited as set forth above, for the purpose of meeting principal payments for any Series of Bonds, shall be adjusted, as appropriate, to reflect the frequency of principal payment dates applicable to such Series. Moneys in the Principal Account may be used only for the purposes set forth in this paragraph. 15 . (c) Redemption Account: Such sum as will be sufficient to pay one- twelfth (1 / 12th) (or such higher amount on a prorated basis) of any Amortization Installment established for the mandatory redemption of Outstanding Bonds on such annual maturity date beginning in the month which is twelve (12) months prior to the first Amortization Installment date; provided, however, that monthly deposits into the Redemption Account, or portions thereof, shall not be required to be made to the extent that money on deposit in the Redemption Account is sufficient for such purpose. Any monthly payment out of Public Service Tax Revenues to be deposited as set forth above, for the purpose of meeting Amortization Installments for any Series of Bonds, shall be adjusted, as appropriate, to reflect the frequency of dates established for Amortization Installments applicable to such Series. The moneys in the Redemption Account shall be used solely for the purchase or redemption of the Term Bonds payable therefrom. The City may at any time purchase any of said Term Bonds at prices not greater than the then redemption price of said Term Bonds. If the Term Bonds are not then redeemable prior to maturity, the City may purchase said Term Bonds at prices not greater than the redemption price of such Term Bonds on the next ensuing redemption date. If Term Bonds are so purchased by the City, the City shall credit the account of such purchased Term Bonds against any current Amortization Installment to be paid by the City. If the City shall purchase or call for redemption in any year Term Bonds in excess of the Amortization Installment requirement for such year, such excess of Term Bonds so purchased or redeemed shall be credited in such manner and at such times as the City shall determine. Moneys in the Redemption Account in the Debt Service Fund may be used only for the purposes set forth in this paragraph. . (2) The City shall next deposit from moneys remaining in the Revenue Fund an amount required by the resolution of the City authorizing each Series of Bonds into the Reserve Fund. Any withdrawals from the Reserve Fund shall be subsequently restored from the first moneys available in the Revenue Fund, after all current applications and allocations to the Bond Service Fund, including all deficiencies for prior payments have been made in full. Notwithstanding the foregoing, in case of withdrawal from the Reserve Fund, in no event shall the City be required to deposit into the Reserve Fund an amount greater than that amount necessary to ensure that the difference between the Reserve Requirement and the amounts on deposit in the Reserve Fund on the date of calculation shall be restored not later than sixty (60) months after the date of such deficiency (assuming equal monthly payments into the Reserve Fund for such sixty (60) month period). The City may provide that the difference between the amounts on deposit in the Reserve Fund and the Reserve Requirement shall be an amount covered by obtaining bond insurance issued by a reputable and recognized municipal bond insurer, by a letter ofcredit rated in one of the two highest categories by one of two nationally recognized rating agencies, by a surety bond acceptable to any company issuing a policy of municipal bond insurance guaranteeing the payment of principal and interest on such Series of Bonds, or any combination thereof. Moneys in the Reserve Fund shall be used only for the purpose of the payment of Amortization Installments, principal of, or interest on the Outstanding Bonds when the other moneys allocated to the Bond Service Fund are insufficient therefor, and for no other purpose. Securities in the Reserve Fund shall be valued annually at market rate. Deficiencies in the amounts on deposit in the Reserve Fund resulting from a decline in market value shall be restored no later than the succeeding interest payment date. In the event of the refunding of any 16 Series of Bonds, the City may withdraw from the Reserve Fund, all or any portion of the amounts accumulated tin the Ordinance with respect to the Bonds being refunded and deposit such amounts as required by the resolution authorizing the refunding of such Series of Bonds; provided that such withdrawal shall not be made unless (a) immediately thereafter the Bonds being refunded shall be deemed to have been paid pursuant to the provisions of the Ordinance and (b) the amount remaining in the Reserve Fund after giving effect to the issuance of such refunding obligations and the disposition of the proceeds thereof shall not be less than the Reserve Requirement for any Bonds then Outstanding. (3) From the moneys remaining in the Revenue Fund, the City shall next deposit into the Subordinated Debt Service Fund, if any, an amount required to be paid as provided in the resolution of the City authorizing such Subordinated Indebtedness forprincipal, interest, mandatory redemption payments, if any, and debt service reserve payments, if any, on Subordinated Indebtedness, but for no other purposes. (4) The balance of any moneys remaining in the Revenue Fund.after the above required payments have been made may be used for any lawfiil purpose; provided, however, that none of said money shall be used for any purposes other than those in the Ordinance specified above unless all current payments, including any deficiencies for prior payments, have been made in full and unless the City shall have complied fully with all the covenants and provisions of the Ordinance. (5) The Bond Service Fund (including the accounts in the Ordinance), the Reserve Fund, the Revenue Fund, and any other special funds in the Ordinance established and created shall be deemed to be held in trust for the purposes provided in the Ordinance for such funds. The money in all such funds shall be continuously secured in the same manner as state and municipal deposits are authorized to be secured by the laws of the State of Florida in Permitted Investments. Except as otherwise permitted by the resolution authorizing any Series of Bonds, moneys in any fund or account created under the Ordinance (with the exception of the Reserve Fund) may be invested and reinvested in Permitted lnvcstments which mature not later than the dates on which the moneys on deposit tin the Ordinance will be needed for the purpose of such fund. Except as otherwise permitted by the resolution authorizing any Series of Bonds, moneys in the Reserve Fund may be invested and reinvested in Permitted investments maturing not later than five (5) years after deposit into such Reserve Fund by the City. All income on such investments, except as otherwise provided, shall be deposited in the respective funds and accounts from which such investments were made and be used for the purposes thereof unless and until the maximum required amount (or, with respect to the Construction Fund, the amount required to acquire, construct and erect the Project) is on deposit tin the Ordinance, and thereafter shall be deposited in the Revenue Fund. (6) In determining the amount of any of the payments required to be made pursuant to this Section, credit may be given for all investment income accruing to the respective funds and accounts described in the Ordinance:, except as otherwise provided. (7) The cash required to be accounted for in each of the funds and accounts described in this Section may be deposited in a single bank account, provided that adequate 17 accounting records are maintained to reflect and control the restricted allocation of the cash on deposit tin the Ordinance for the various purposes of such funds and accounts as in the Ordinance provided. The designation and establishment of the various funds in and by the Ordinance shall not be construed to require the establishment of any completely independent, self-balancing funds as such term is commonly defined and used in governmental accounting, but rather is intended solely to constitute an earmarking of certain revenues and assets of the Project for certain purposes and to establish certain priorities for application of such revenues and assets as provided in the Ordinance. REFUNDING PROGRAM . In August, 1985, the City issued $7,155,000 Public Service Tax and Bridge Revenue Bonds, Series 1985 (the "1985 Bonds") to finance the cost of refunding 53,290,000 Utilities Tax Bonds, Series 1977 and $6,060,000 Utilities Tax and Bridge Revenue Bonds, Series, 1977, and to provide funds for land acquisition and construction of a City-owned and operated parking garage. In February, 1995, the City issued $10,720,000 Improvement Revenue Bonds, Series 1995, to finance the construction of a new police headquarters building and relating parking facilities (the "1995 Bonds"). A portion of the net proceeds of the Series 2001 Bonds will be used to currently refund the 1985 Bonds, which are currently outstanding in the aggregate principal amount of [ ] and advance refund the 1995 Bonds, which are currently outstanding in the aggregate principal amount of [ - ] (as previously defined, the"1985 Bonds" and the "1995 Bonds" are referred to collectively, as the "Refunded Bonds"). To effect the refunding of the Refunded Bonds, the City will enter into an escrow deposit agreement (the "Escrow Agreement") with [Escrow Agent], [Escrow Agent Location], Florida, as escrow agent (the "Escrow Agent"). Pursuant to the terms of the Escrow Agreement, the City will deposit with the Escrow Agent a portion of the proceeds of the Series 2001 Bonds, as well. as other available moneys of the City. Such moneys, other than beginning cash balances, will be applied on the date of delivery of the Series 2001 Bonds to the purchase of direct obligations of the United States of America (the "United States Obligations"). The United States Obligations shall mature at such times and in such amounts as shall be sufficient to pay the principal of, redemption premium, if any, and interest on the Refunded Bonds as the same become due and payable or are redeemed prior to maturity. The Refunded 1985 Bonds will be redeemed on or before [ ] at the redemption price of [ ] and the Refunded 1995 Bonds will be redeemed on or before [ ] at the redemption price of [ ]. Upon deposit of such moneys into the special escrow deposit trust account (the "Escrow Account') as provided in the Escrow Agreement, in the opinion of Bond Counsel, based upon the verification report provided in connection with such issue, the lien of the Refunded Bonds on the Public Service Tax will be discharged. 18 ESTIMATED SOURCES AND USES OF FUNDS Sources of Funds: Principal Amount of Series 2001 Bonds Accrued Interest Total Sources Uses of Funds: Deposit to Escrow Fund Deposit to Interest Account Costs of Issuance (1) Total Uses (1) Includes underwriting discount, premiums for municipal bond insurance and other expenses relating to the issuance of the Series 2001 Bonds. [Remainder of page intentionally left blank] 19 C- DEBT SERVICE SCHEDULE Total (1) Inclusive of accrued interest on the Series 2001 Bonds. 20 HISTORICAL AND PROJECTED DEBT SERVICE COVERAGE Fiscal Years Ending September 30, Historical 1996 1997 1998 1999 2000 (audited) audited) (audited) (audited) (audited) Public Service Tax Annual Debt Service Debt Service Coverage Projected 2001 2002 2003 2004 2005 Estimated Public Service Tax Estimated Annual Debt Service Estimated Debt Service Coverage MUNICIPAL BOND INSURANCE [TO COME] TAX EXEMPTION Federal Income Tax Matters The Internal Revenue Code of 1986, as amended (the "Code") establishes certain requirements which must be met subsequent to the issuance and delivery of the Series 2001 Bonds in order that interest on the Series 2001 Bonds be and remain excluded from gross income for purposes of federal income taxation. Non-compliance may cause interest on the Series 2001 Bonds to be included in federal gross income retroactive to the date of issuance of the Series 2001 Bonds regardless of the date on which such non-compliance occurs or is ascertained. These requirements include, but are not limited to, provisions which prescribe yield and other limits within which the proceeds of the Series 2001 Bonds and the other amounts are to be invested and require that certain investment earnings on the foregoing must be rebated on a periodic basis to the TreasuryDepartment of the United States. The City has covenanted in the Ordinance to comply with such requirements 21 in order to maintain the exclusion from federal gross income of the interest on the Series 2001 Bonds. In the opinion of Bond Counsel, assuming compliance with the aforementioned covenants, under existing laws, regulations, judicial decisions and rulings, interest on the Series 2001 Bonds is excluded from gross income for purposes of federal income taxation. Interest on the Series 2001 Bonds is not an item of tax preference for purposes of the federal alternative minimum tax imposed on individuals or corporations; however, interest on the Series 2001 Bonds may be subject to the alternative minimum tax when any Series 2001 Bond is held by a corporation. The alternative minimum taxable income of a corporation must be increased by 75% of the excess of such corporation's adjusted current earnings over its alternative minimum taxable income (before this adjustment and the alternative tax net operating loss deduction). "Adjusted Current Earnings" will include interest on the Series 2001 Bonds. Except as described above, Bond Counsel will express no opinion regarding the federal income tax consequences resulting from the ownership of, receipt or accrual of interest on, or disposition of Series 2001 Bonds. Prospective purchasers of Series 2001 Bonds should be aware that the ownership of Series 2001 Bonds may result in collateral federal income tax consequences, including (i) the denial of a deduction for interest on indebtedness incurred or continued to purchase or carry Series 2001 Bonds, (ii) the reduction of the toss reserve deduction for property and casualty insurance companies by 15% of certain items, including interest on the Series 2001 Bonds, (iii) the inclusion of interest on the Series 2001 Bonds in earnings of certain foreign corporations doing business in the United States for purposes of a branch profits tax, (iv) the inclusion of interest on Series 2001 Bonds in passive income subject to federal income taxation of certain S corporations with Subchapter C earnings and profits at the close of the taxable year, and (v) the inclusion of interest on the Series 2001 Bonds in "modified adjusted gross income" by recipients of certain Social Security and Railroad Retirement benefits for purposes of determining whether such benefits are included in gross income for federal income tax purposes. PURCHASE, OWNERSHIP, SALE OR DISPOSITION OF THE SERIES 2001 BONDS AND THE RECEIPT OR ACCRUAL OF THE INTEREST THEREON MAY HAVE ADVERSE FEDERAL TAX CONSEQUENCES FOR CERTAIN INDIVIDUAL AND CORPORATE REGISTERED OWNERS. PROSPECTIVE SERIES 2001 REGISTERED OWNERS SHOULD CONSULT WITH THEIR TAX SPECIALISTS FOR INFORMATION IN THAT REGARD. During recent years legislative proposals have been introduced in Congress, and in some cases enacted that altered certain federal tax consequences resulting from the ownership of obligations that are similar to the Series 2001 Bonds. In some cases these proposals have contained provisions that altered these consequences on a retroactive basis. - Such alteration of federal tax consequences may have affected the market value of obligations similar to the Series 2001 Bonds. From time to time, legislative proposals are pending which could have an effect on both the federal tax consequences resulting from ownership of Series 2001 Bonds and their market value. No assurance can be given that legislative proposals will not be introduced or enacted that would or might apply to, or have an adverse effect upon, the Series 2001 Bonds. 22 Florida Tai Matters On the date of delivery of the Series 2001 Bonds, Bond Counsel will issue an opinion to the effect that under existing statutes, regulations and judicial decisions, the Series 2001 Bonds and the income therefrom are exempt from all present intangible personal property taxes imposed by Chapter 199, Florida Statutes and documentary stamp taxes imposed by Chapter 201, Florida Statutes, as amended. AUDITED GENERAL PURPOSE FINANCIAL STATEMENTS The Audited General Purpose Financial Statements of the City for the fiscal year ended September 30, 2000 and report thereon of the Independent Certified Public Accountants is attached hereto as APPENDIX D. Such financial statements are presented for general informational purposes only. INVESTMENT POLICY Pursuant to the requirements of Section 218.45, Florida Statutes, the City adopted a written investment policy which applies to all funds held by or for the benefit of the City Commission (except for proceeds of bond issues which are deposited in escrow and debt service funds and governed by their bond documents) and funds of Constitutional Officers and other component units of the City. The objectives of the investment policy, listed in order in order of importance, are: 1. Safety of principal 2. Provision of sufficient liquidity 3. Optimization of return within the constraints of safety and liquidity The investment policy limits the securities eligible for inclusion in the City's portfolio. The City will attempt to maintain a weighted average maturity of its investments at or below three years; however, the average maturity of investments may not exceed four years. To enhance safety, the investment policy requires the diversification of the portfolio to reduce the risk of loss resulting from over-concentration of assets in a specific class of security. The investment policy also requires the preparation of periodic reports for the City Commission of all outstanding securities by class or type, book value, income earned and market value as of the report date. Notwithstanding the foregoing, moneys held in the funds and accounts established under the Ordinance may be invested only in Permitted Investments, as described in the Ordinance. 24 LITIGATION There is no pending or threatened litigation restraining or enjoining the issuance or delivery of the Series 2001 Bonds or the pledge of the Pledged Revenues or questioning or affecting the validity of the Series 2001 Bonds or the pledge of the Pledged Revenues or the proceedings and authority under which the Series 2001 Bonds are issued and the Pledged Revenues are pledged. Neither the creation, organization or existence, nor the title of the present members of the City Commission of the City or other officers of the City to their respective offices is being contested. The City experiences routine litigation and claims incidental to the conduct of its affairs. Counsel to the City is of the opinion that no case either pending or threatened against the City will materially adversely affect the ability of the City to meet its obligations to pay the Series 2001 Bonds or will materially adversely affect the operations or financial condition of the City. RATINGS Moody's Investors Service ("Moody's"), Fitch, Inc. and Standard & Poor's Ratings Services ("S&P") are expected to assign municipal bond ratings of " " and " ," respectively, to the Series 2001 Bonds with the understanding that, upon delivery of the Series 2001 Bonds, a policy insuring the payment when due of the principal of and interest on the Series 2001 Bonds will be issued by the Bond Insurer. Such ratings reflect the views of the respective rating agencies and an explanation of the significance of such ratings may be obtained only from the rating agencies at the following addresses: Moody's Investors Service, 99 Church Street, New York, New York 10007, and Standard & Poor's Rating Service, 25 Broadway, New York, New York 10004. Generally, a rating agency bases its rating on the information and materials furnished to it and on investigations, studies and assumptions of its own. There is no assurance that such ratings will continue for any given period of time or that such ratings will not be revised downward or withdrawn entirely by the rating agency concerned, if, in the judgment of such agency, circumstances so warrant. Any such downward revision or withdrawal of such ratings may have an adverse effect upon the market price of the Series 2001 Bonds. LEGAL OPINIONS Legal matters incident to the authorization, issuance and sale of the Series 2001 Bonds are subject to the approval of Bryant, Miller and Olive, P.A., Tallahassee, Florida, Bond Counsel, whose approving opinion will be printed on the Series 2001 Bonds and will be in substantially the form set forth in APPENDIX E. Certain other legal matters will be passed upon for the City by Pamela K. Akin, Esquire, City Attorney and by Nabors, Giblin & Nickerson, P.A., Tampa, Florida, Disclosure Counsel to the City. 25 ENFORCEABILITY OF REMEDIES The remedies available to the Holders of the Series 2001 Bonds upon an Event of Default under the Ordinance are in many respects dependent upon judicial actions which are often subject to discretion and delay. Under existing constitutional and statutory law and judicial decisions, the remedies specified by the Ordinance may not be readily available or may be limited. The various legal opinions to be delivered concurrently with the delivery of the Series 2001 Bonds will be qualified, as to the enforceability of the various legal instruments, by limitations imposed by bank- ruptcy, reorganization, insolvency or other similar laws affecting the rights of creditors enacted before or after such delivery. The remedies granted to the Bondholders under the Ordinance do not include the power to accelerate the principal of the Series 2001 Bonds. FINANCIAL ADVISOR . The Financial Advisor for the City is Banc of America Securities LLC, with offices located at 1640 Gulf-to-Bay Boulevard, Clearwater, Florida 33755. VERIFICATION OF MATHEMATICAL COMPUTATIONS The accuracy of the arithmetic computations of the adequacy of the maturing principal amount of the United States Obligations to pay, when due, the principal of and interest on. the Refunded Bonds will be verified by [Verification Agent], a firm of independent certified public accountants. Such verification of arithmetic accuracy and mathematical computations shall be. based upon information and assumptions supplied by the City regarding the maturities and interest rates on the Refunded Bonds and by the Underwriter regarding the United States Obligations purchased to pay, when due, the principal of, redemption premium, if any, and interest on the Refunded Bonds. UNDERWRITING The Series 2001 Bonds are being purchased by the Underwriters from the City at an aggregate purchase price of $ (par less underwriters' discount of $ ), plus accrued interest on the Series 2001 Bonds. The Underwriters are obligated to purchase all the Series 2001 Bonds if any are purchased. Following the initial public offering, the public offering prices may be changed from time to time by the Underwriters. The Serics 2001 Bonds may be offered and sold to certain dealers (including underwriters and other dealers depositing such Bonds into investment trusts) and others at prices lower than the public offering prices set forth on the cover page of this Official Statement. 26 DISCLOSURE REQUIRED BY FLORIDA BLUE SKY REGULA'T'IONS Section 517.051, Florida Statutes, as amended, and the regulations promulgated thereunder (the "Disclosure Act") require that the City make a full and fair disclosure of any bonds or other debt obligations that it has issued or guaranteed and that are or have been in default as to principal or interest at any time after December 31, 1975 (including bonds or other debt obligations for which it has served only as a conduit issuer such as industrial development or private activity bonds issued on behalf of private businesses). The City is not and has not since December 31, 1975 been in default as to principal and interest on its bonds or other debt obligations (see, however, disclosure which is being trade in the next paragraph related to conduit indebtedness). The City hereby makes the following disclosure regarding a default on an issue of industrial development bonds not related to any direct indebtedness of the City, as it is aware of a prior default in 1990 with respect to an issue of industrial revenue bonds for which the City served only as a conduit issuer. The City was not liable to pay the principal of or interest on such bonds except from payments made to it by the private company on whose behalf such bonds were issued and no funds of the City were used to pay such bonds or the interest thereon. Although the City is not aware of any other defaults with respect to bonds or other debt obligations as to which it has served only as a conduit issuer, it has not undertaken an independent review or investigation of such bonds or other debt obligations. 27 2001 Bonds, does not contain any untrue statements of material fact and does not omit to state a material fact which should be included herein for the purpose for which this Official Statement is to be used, or which is necessary to make the statements contained herein, in the light of the circumstances under which they were made, not misleading. MISCELLANEOUS The references, excerpts and summaries of all documents, resolutions and/or ordinances referred to herein do not purport to be complete statements of the provisions of such documents, resolutions and/or ordinances and reference is directed to all such documents, resolutions and/or ordinances for full and complete statements of all matters of fact relating to the Series 2001 Bonds, the security for and the repayment of the Series 2001 Bonds and the rights and obligations of the Holders thereof. Copies of such documents, resolutions and ordinances may be obtained from the City Clerk's Office. So far as any statements made in this Official Statement involve matters of opinion or of estimates, whether or not expressly stated, they are set forth as such and not as representations of fact. No representation is made that any of such statements will be realized. Neither this Official Statement nor any statement which may have been orally or in writing is to be construed as a contract with the holders of the Series 2001 Bonds. The execution and delivery ofthis Official Statement by the Mayor-Commissioner ofthe City has been duly authorized by the City Commission. CITY OF CLEARWATEI;, FLORIDA Brian J. Aungst, Sr., Mayor-Commissioner William B. Home, II, City Manager 29 APPENDIX A GENERAL INFORMATION RELATING TO THE CITY OF CLEARWATER, FLORIDA Location The City of Clearwater (the "City"), the county seat of Pinellas County (the fifth most populous county in Florida), is geographically located in the middle of the west coast of Florida on the Gulf of Mexico. It is situated approximately 22 miles west of Tampa and 16 miles north of St. Petersburg. Standing on the highest coastal elevation of the State, the City limits comprise approximately 26.5 square miles of land and 8.61 square miles of waterways and lakes. Clearwater Beach, a corporate part of the City, is a beach community connected to the mainland by Memorial Causeway, a four-lane, toll-free drive stretching almost two miles across the Intracoastal Waterway. Business on Clearwater Beach is mainly tourist oriented, with hotels, motels and gift shops. Many fine homes, apartments and condominiums offer pleasant, semi-tropical island accommodations to permanent residents and winter and summer visitors. History The area now known as Clearwater was first explored in 1528 by Panfile de Narvaez, a Spanish explorer who encountered a Large tribe of Indians, which his army drove out. The Indians recaptured their territory and held it until the Seminole Wars of 1835-42. The Indians who inhabited this area are said to have called it "Pocotopaug," meaning "clear water," for the many springs of clear, fresh water that bubbled along the shore and even below the waterline at low tide. Settlers began moving into the area around the time of the Seminole Wars. After the wars ended, the territory was opened by the Federal government for homesteading under the Armed Occupation Act. The first land title was granted in 1842. The early settlement, named "Clear Water Harbor," was incorporated in 1897. "Clear Water" later became one word and "Harbor" was dropped in 1906 when Pinellas County was created by an act of the State Legislature. In May 1911, Clearwater became the County Seat and Clearwater was chartered as a municipality on May 27, 1915. Government and Administration Clearwater has a commission-city manager form of government. Four commissioners and a mayor-commissioner are elected at large to serve overlapping three-year terms. They appoint the city manager and the city attorney. All other administrative and professional positions are appointed by the city manager in accordance with the City's Civil Service System. The City has approximately 1,736 employees, substantiallyall of which covered bythe City's Civil Service law relating to recruitment, promotion, evaluation and discipline based on merit A-1 principles. Four employee unions represent the City's civil labor force: two units of the Fraternal Order of Police; one of the International Association of Fire Fighters; and one from the Communications Workers of America. Transportation Pinellas Countyand Clearwaterare served bythree majorcauseways and bridges over Tampa Bay, by U.S. 19 and I-275 to the north and south, by I-4 and U.S. 60 to the east. State Roads 590 and 686 also afford access to the City. Tampa International Airport, located approximately twenty miles from downtown Clearwater, provides air travel access with approximately 260 national and international flights daily. Limousine and taxi service to and from the airport is available from Clearwater and throughout Pinellas County. St. Petersburg/Clearwater International Airport, five miles from downtown Clearwater, offers regularly scheduled passenger service and charter and special group flights, on a more limited basis to both domestic and foreign destinations, particularly to Canada, Mexico, and Central and South America. The Executive Airpark, which is slightly over a mile from the downtown business section, provides service and maintenance for private plane owners. The airport has one 3,000 foot hard-surface runway and facilities for visiting and locally based planes. The Port of Tampa (22 miles to the east) is the closest deep water port. The port is serviced by a variety of steamship agents and operators. The United States Coast Guard maintains an air station at the St. Petersburg/Clearwater International Airport, and a search and sea rescue cutter station on Clearwater Harbor opposite Sand Key. Gulf Coast Motor Lines provides service daily between Clearwater, St. Petersburg and Tampa and makes connections with Greyhound and Trailways Bus Lines in Tampa. Scenic tours are available via Gray Line out of Clearwater and St. Petersburg, and both Gray Line and Gulf Coast have buses for charter. Pinellas Suncoast Transit System maintains 54 routes in 19 municipalities in Pinellas County. Utilities, Public Service and Community Facilities The City owns and operates its own water and wastewater collection systems. Water is obtained from 17 deep wells owned and operated by the City (approximately 20-25%) and from wholesale purchases from the Pinellas County Water System (approximately 75-80%). Total daily average is approximately 29 million gallons per day. The wastewater collection program provides for the transmission of wastewater through the City's underground sewer mains, collectors and interceptor lines and for the maintenance, repair and replacement of 323 miles of sanitary sewer lines. The Department of Public Works maintains 304 miles of paved streets, 1 I miles of unpaved streets, approximately 123 miles of storm sewer mains, and approximately 323 miles of sanitary sewer mains. A-2 Electric power is provided by Florida Power Corporation and telephone service is provided by Verizon of Florida, Inc. Time Warner and Verizon provide cable television service under franchises with the City. Local editions of the daily St. Petersburg Times and The Tampa Tribune, plus weekly newspapers from adjacent Dunedin, Largo, Seminole and Clearwater Beach are widely distributed. The Clearwater Public Library System consists of a main library and four branches which are spread evenly throughout the community for easy access. The City offers over 42 acres of public beach front, parks, playgrounds, athletic courts and fields, pools, a 6,917 seat baseball and softball stadium, golf course, civic and recreational centers, 7.4 miles of recreational paths, boat ramps and a 209 slip yacht basin and marina. The Philadelphia Phillies conduct spring training at the municipal baseball stadium and have a long-term contract for farm club training on Clearwater's specially constructed facilities during the Winter Instructional League Program. Clearwater is the home of the Clearwater Bombers, a national amateur fast pitch softball team. Tourism The State of Florida reported 58.9 million tourists carne to Florida during 1999, an increase of 20.9% over the 48.7 million reported in 1998. More than 4.5 million visitors vacationed in Pinellas County in 1999, and 4.7 in the year 2000, a 3.5% increase. Tourism is a $2.5 billion industry annually to the County. Pinellas County is ranked eighth of the top ten destinations in Florida and totaled 3.9% of Florida's domestic tourism. Clearwater's Fun N Sun Festival each spring attracts thousands of visitors. Education The Pinellas County School District is the seventh-largest in the State and operates a total of 142 schools comprising elementary through high school, exceptional, alternative and vocational schools within the County. During the 2000-2001 school year, Pinellas County Schools expects enrollment of more than 15,978 compared to 14,551 during the 1999-2000 school year with students attending 82 elementary, 23 middle and 16 high schools along with five exceptional education centers and two discipline centers. The district also operates three community schools, three adult education/learning centers, two technical education centers and one secondary vocational center. Private schools and academies are also located within or near the City limits. In addition, St. Petersburg Junior College has a Clearwater campus. Eckerd College in St. Petersburg, Beacon College in Largo, Stetson University College of Law in Gulfport, the University of South Florida and the University of Tampa in Tampa offer nearby college and post-graduate education. Industry, Commerce and Labor Light, clean industry is encouraged in Clearwater. In 1957, the City of Clearwater developed a 100 acre industrial park adjacent to the Clearwater Airpark (Executive Airport) and to the CSX Transportation Company. There is also a privately owned, 35 acre industrial park. Large industries located near Clearwater include Honeywell, General Electric, UNISYS, Concept and Hercules A-3 Defense Electronics Systems, Inc. During the 1999 fiscal year UARglobal Corp. ("IMR') occupied its new world headquarters in downtown Clearwater with a projected employment of 700. IMR represents an important step in revitalizing downtown Clearwater and attracting technology companies to the area. Pension Plan The Employees' Pension Plan and the Fireman's Pension Plan are self-administered by the City. City contributions for fiscal year ending 1999 were $3,904,950 to the Employees' Plan and $1,003,758 to the Fireman's Plan, and were in accordance with actuarially determined funding requirements. In addition, supplemental pensions exist for certified Police Officers and Firefighters, funded solely from excise taxes on certain insurance premiums covering property in Clearwater, collected by the State and remitted to the City. Both plans require benefits to be adjusted to equal funds assets provided by the defined contributions. [Remainder of page intentionally left blank] A-4 Demographic Information Last Ten Fiscal Years (a) (b) (c) (d) (e) Permanent Per Capita Median School Unemployment Year Population Income Age Enrollment Rate 1991 99,612 22,059 42.1 11,572 6.1 1992 99,856 22,958 42.3 11,921 5.4 1993 100,768 24,470 42.3 11,584 6.1 1994 100,604 Not avail. 42.9 10,043 5.5 1995 101,162 22,789 42.2 10,284 4.8 1996 101,867 24,696 42.1 11,906 4.2 1997 102,472 26,050 43.3 15,264 3.7 1998 102,874 27,311 43.6 13,714 2.9 1999 104,281 28,367 43.9 14,551 3.0 2000 1041454 30,633 44.2 15,978 2.7 Source: City of Clearwater, Florida Comprehensive Annual Financial Report for period ending September 30, 2000. (a) 1991-1999, University of Florida, Bureau of Economic and Business Research; 2000 City of Clearwater, Florida Comprehensive Annual Financial Report for period ending September 30, 2000. (b) Data is for Pinellas County, but should also approximate Clearwater levels. 1991-1994, Florida Trend Magazine; 1995-2000, University of Florida, Bureau of Economic and Business Research, Florida Statistical Abstract. (c) Pinellas County data, but should also approximate Clearwater levels. 1991-1992, U.S. Bureau of the Census; 1993, St. Petersburg Times Research Bureau; 1994, Sales and Marketing Man ement, Survey of Buying Power, 1995-2000, University of Florida, Bureau of Economic and Business Research, Florida Statistical Abstract. (d) Clearwater Planning Department population pro rata estimate of Pinellas County School Board County level data forpublic schools; 1991-1999, Pinellas County School Board, 2000, Pinellas County School District enrollment for schools located in Clearwater City limits.. (e) Data is for Tanipa/St- Petersburg MSA. 1991-1999 source of data is the Florida Bureau of Labor Market Information; 2000, University of Florida, Bureau of Economic and Business Research, Florida Statistical Abstract. NO'T'E: Data is for an unspecified point in each year, not specifically September 30. A-5 h h O O d O? N V) O T y ?•• 0% 00 ?O ?D V N 10 00 ?- V t:L y? O M N ?O N M f? ?D vyi N a N n h N - N a r n- 00 1% W3 O ? -. It -+ - -. -.. .- , -- -. 1- u «t m N dL O fn b e u CT N ?O N h t` h 'D -T 07 c7 ? -, en ' r- ' •G v N t `? h O? M O N 1 ? - ° u h ?o ev °o v, a a a ? ?o ° w Q ?o c : r' ao cv - ?n ?n ?n ri u i ti c t, _ = ? .?.. v i l O ?t en c 0 0 00 o r~, In E ? r^ q h v, %D ^ ! - Yi h %n v i v? Yi ?o ?o w m D v v r^ Cl h rn C. C= 0 No oh t- N 00 N in %0 00 r` O 00 lq? V 0? q N O M N to oo -- O %0 c. a ~ o O N (5 0 V a ? 0 0 OR. r'1 O O' n N U t- 00 o h 00 V h n h W3 N --? N N N ^ . U'! 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V'1 ? Vl NM N t/'1 ? A o° F+ w © EA LIS d ? oa D a _ 05 $ ? ? O N O, ?C M O ? r.. w? v r %0 %D 0 O O M M V ri) CQ on 00 0, o? o; o: oo o"° u H E 1-9 ??~ o o a o 0 0 0 0 0 0 0 • V o, o °o, CD o Co °o, o o o A 'o h tn tn M N to to to to to wi cn tr; vi w O O ? ? /? O En v A C to co ed c?0 3 cd b 0 y ? a 00 a •? b O O -°v w 0 3 a! ti U N N G V w 00 Uc > u .a 7E ' a? > ? oa ? V •o ?+o u y N Q ? ? City of Clearwater, Florida Principal Taxpayers* Year Ended September 30, 2000 Percentage to Total Assessed Assessed Taxpayers Type of Business Value* Value Bellwether Prop. LP Ltd. Excel Realty Trust, Inc. Grand Reserve at Park Taylor, John S. III Clearwater Land Co. Branch Sunset Association ZOM Bayside Arbors Ltd. Sand Key Association Ltd. Northwood Plaza Walmart Stores, Inc. Subtotal All Others Total Shopping Center Shopping Center Apartment Complex Landowner Adult Congregate Facility Shopping Center Apartment Complex Hotel Shopping Center Shopping Center $ 83,872,700 1.93% 292223,200 0.67 25,002,300 0.57 22,578,600 0.52 21,473,800 0.49 20,742,300 0.48 19,499,100 0.45 191304,400 0.44 181245,200 0.42 17,635,600 0.41 277,577,200 6.38 4,075,916,320 93.62 %4,353,493,520 100.00% * Based on non-exempt real property assessed taxable values. Source:. City of Clearwater, Florida, Comprehensive Annual Financial Report for period ending September 30, 2000; Pinellas County Property Appraiser, 1999 tax rolls for 2000 collections. A-10 City of Clearwater, Florida Ratio of Net General Bonded Debt to Taxable Assessed Value and Net Bonded Debt Per Capita Last Ten Fiscal Years Ratio of Net Net Taxable Net General General Assessed General Bonded Debt Bonded Fiscal Value Bonded To Assessed Debt Year Population 0000)(1) Debt(2) Value Per Capita 1991 99,612 $4,124,564 $567,950 .01 $5.70 1992 99,856 4,179,582 452,779 .01 4.53 1993 100,768 4,188,105 348,478 .01 3.46 1994 100,604 4,181,314 242,700 .01 2.39 1995 101,162 4,186,108 133,597 .00 1.30 1996 101,867 4,252,433 21,598 .00 0.21 1997 102,472 4,376,559 165,000 .00 1.61 1998 102,874 4,494,262 33,750 .00 0.33 1999 104,281 4,692,398 0 .00 0.00 2000 104,454 4,903,478 0 .00 0.00 Source: City of Clearwater, Florida, Comprehensive Annual Financial Report for period ending September 30, 2000. (1) Values listed are for year of oollections. (2) Gross general bonded debt less amounts on deposit in sinking funds or d ebt service funds. i R [Remainder of page intentionally left blank] A-11 City of Clearwater, Florida Computation of Legal Debt Margin September 30, 2000 Assessed Valuation of Non-Exempt Real Estate(a) Times: Twenty Percent Limitation per City Charter Equals Legal Indebtedness Limitation Debt Subject to Indebtedness Limitation: Revenue Bonds: .1985 Public Service Tax and Bridge Revenue Bonds 1998 Water and Sewer Revenue Bonds 1993 Water and Sewer Revenue Bonds .1995 Improvement Revenue Bonds 1996A Gas System Revenue Bonds 1997 Gas System Revenue Bonds 1998 Gas System Revenue Bonds 1999 Stormwater System Revenue Bonds Notes, Mortgages and Contracts Totals Legal Indebtedness Margin $749,054,321 Source: City of Clearwater, Florida, Comprehensive Annual Financial Report for period ending September 30, 2000. (a) Valuation listed is from 1999 tax year for 2000 collections. $4$53,493,520 X .20 $ 870,698,704 Net Debt Less Sinking Subject to Gross Debt Fund Assets Limitation $ 4851000 $ 169,396 $ 315,604 47,608,954 4,436,709 433172,245 29,520,000 8,654,333 20,865,667 9,950,000 120,000 9,830,000 8,525,000 6,667 8,518,333 13,335,000 39,167 133295,833 7,960,000 2,500 7,957,500 7,500,000 95,455 71404,545 10,284,654 10.284,654 $135,168,608 $13,524,227 $121,644,381 A-12 City of Clearwater, Florida Computation of Direct and Overiapping Debt September 30, 2000 Net Debt Governmental Unit Outstanding Percent Amount City of Clearwater $ - 100% $ - Pinellas County School Board $45,643,454 14% $6,390,084 (a) Applicable Net Debt Percentage is based on ratio of City to County Taxable values for 1999 collections ($4,353,493,520/$32,049,129,680). A-13 APPENDIX C AUDITED GENERAL PURPOSE FINANCIAL STATEMENTS OF CLEARWATER, FLORIDA FISCAL YEAR ENDED SEPTEMBER 30, 2000 INCLUDED ARE THE AUDITED GENERAL PURPOSE FINANCIAL STATEMENTS AND THE STATEMENTS FOR THE GENERAL FUND AND SPECIAL REVENUE FUNDS. COPIES OF THE COMPLETE AUDITED FINANCIAL STATEMENTS ARE AVAILABLE FROM THE CITY UPON REQUEST BY CONTACTING THE FOLLOWING: Margaret Simmons, CPA Financial Services Administrator City of Clearwater Municipal Services Building 100 S. Myrtle Avenue Clearwater, Florida 33756-5520 Tel: (727) 562-4538 Fax: (727) 562-4535 E-Mail: msimmons@clearwater-fl.corn CONTINUING DISCLOSURE CERTIFICATE This Continuing Disclosure Certificate (the "Disclosure Certificate") is executed and delivered by the City of Clearwater, Florida (the "Issuer") in connection with the issuance of its $12,000,000 Improvement Revenue Refunding Bonds, Series 2001 (the "Series 2001 Bonds"). The Series 2001 Bonds are being issued pursuant to Ordinance No. [ ], adopted by the City Commission on October [ ], 2001, as supplemented by Resolution No. [ ], adopted by the City Commission on October [ ], 2001 (the Ordinance, as so supplemented is hereinafter referred to as the "Ordinance"). The Issuer covenants and agrees as follows: SECTION 1. PURPOSE OF DISCLOSURE CERTIFICATE. This Disclosure Certificate is being executed and delivered by the Issuer for the benefit of the Series 2001 Bondholders and in order to assist the original underwriters of the Series 2001 Bonds in complying with Rule 15c2-12(b)(5) promulgated bythe Securities and Exchange Commission ("SEC") pursuant to the Securities Exchange Act of 1934 (the "Rule"). SECTION 2. PROVISION OF ANNUAL INFORMATION. Except as otherwise provided herein, the Issuer shall provide to all of the nationally recognized municipal securities information repositories described in Section 4 hereof (the "NRMSIRs"), and to any state information depository that is established within the State of Florida (the "SID"), on or before June 30 of each year, commencing June 30, 2002, the information set forth below in this Section 2. Notwithstanding the immediately preceding sentence, to the extent any such information does not become available to the Issuer before June 30 of any year, the Issuer shall provide such information when it becomes available, but no later than one year following the end of the Issuer's Fiscal Year. (A) the Issuer's Comprehensive Annual Financial Report for the immediately preceding Fiscal Year (the "CAFR'), which shall include the audited financial statements of the Issuer for the immediately preceding Fiscal Year prepared in accordance with Generally Accepted Accounting Principles, as modified by applicable State of Florida requirements and the governmental accounting standards promulgated by the Government Accounting Standards Board; provided, however, ifthe audited financial statements ofthe Issuer are not completed prior toApril 30 of any year, the Issuer shall provide unaudited financial statements on such date and shall provide the audited financial statements as soon as practicable following their completion; and (B) to the extent not set forth in the CAFR, additional financial information and operating data of the type included with respect to the Issuer in the final official statement prepared in connection with the sale and issuance of the. Series 2001 Bonds (as amended, the "Official Statement"), as set forth below: 1. Updates of the financial information set forth in the Official Statement in the Table labeled "SECURITY FOR THE SERIES 2001 BONDS - Public Service Tax - Historical Public Service Tax Receipts by Category and under the caption "HISTORICAL AND PROJECTED DEBT SERVICE COVERAGE" ( but only to the extent of historical, not projected, data). 2. Description of any additional indebtedness payable in whole or in part from the Pledged Revenues (as defined in the Ordinance). E-1 3. Any other financial information or operating data of the type included in the Official Statement which would be material to a holder or prospective holders of the Series 2001 Bonds. For purposes of this Disclosure Certificate, "Fiscal Year" means the period commencing on October 1 and ending on September 30 of the next succeeding year, or such other period of time provided by applicable law. SECTION 3. REPORTING SIGNIFICANT Eli ENTS. TheIssuershallprovide totheNRMSIRS or the Municipal Securities Rulemaking Board (the "MSRB") and to the SID, on a timely basis, notice of any of the following events, if such event is material with respect to the Series 2001 Bonds or the Issuer's ability to satisfy its payment obligations with respect to the Series 2001 Bonds: (A) Principal and interest payment delinquencies; (B) Non-payment related defaults; (C) Unscheduled draws on the debt service reserve fund reflecting financial difficulties; (D) Unscheduled draws on credit enhancement reflecting financial difficulties; (E) Substitution of credit or liquidity providers, or their failure to perform; (F) Adverse tax opinions or events affecting the tax-exempt status of the Series 2001 Bonds; (G) Modifications to rights of Series 2001 Bondholders; (1-i) Redemptions;. (I) Defeasances; (.) Release, substitution, or sale of property securing repayment of the Series 2001 Bonds; (K) Rating changes; and (L) Notice of any failure on the part of the Issuer or any other Obligated Person (as defined herein) to meet the requirements of Section 2 hereof. The Issuer may from time to time, in its discretion, choose to provide notice of the occurrence of certain other events, in addition to those listed in this Section 3, if, in the judgment of the Issuer, such other events are material with respect to the Series 2001 Bonds, but the Issuer does not specifically undertake to commit to provide any such additional notice of the occurrence of any material event except those events listed above. Whenever the Issuer obtains knowledge of the occurrence of a significant event described in this Section 3, the Issuer shall as soon as possible determine if such event would be material under applicable federal securities E-2 law to holders of Series 2001 Bonds, provided that any event under clauses (D), (E), (F), (K) or (L) above will always be deemed to be material. SECTION 4. NRMSIRs. The NRMSIRs to which the Issuer shall provide the information described in Sections 2 and 3 above, to the extent required, shall be the following organizations, their successors and assigns: Bloomberg Municipal Repositories P.O. Box 840 Princeton, N.J. 08542-0840 Phone: (609) 279-3225 Fax: (609) 279-5962 Email: Munis@Bloomberg.com DPC Data Inc. One Executive Drive Fort Lee, NJ 07024 Phone: (201) 346-0701 Fax: (201) 947-0107 Email: nrnisir@dpcdata.com Interactive Data Attn: Repository 100 Williams Street New York, NY 10038 Phone: (212) 771-6899 Fax: (212) 771-7390 Email: NIUASIR@interactivedata.com Standard & Poor's J. J. Kenny Repository 55 Water Street 45th Floor New York, NY 10041 Phone: (212) 4384595 Fax: (212) 438-3975 Email: nnnsir_repository@sandp.com (F) Any NRMSIRs that are established subsequently and approved by the SEC. (G) A list of the names and addresses of all designated NRMSIRs as of any date may currently be obtained by calling the SEC's Fax on Demand Service at 202/942-8088 and requesting document number 0206. E-3 SECTION 5. NO EVENT OF DEFAULT. Notwithstanding any other provision in the Ordinance to the contrary, failure of the Issuer to comply with the provisions of this Disclosure Certificate shall not be considered an event of default under the Ordinance; provided, however, any Series 2001 Bondholder may take such actions as may be necessary and appropriate, including pursuing an action for mandamus or specific performance, as applicable, by court order, to cause the Issuer to comply with its obligations hereunder. For purposes of this Disclosure Certificate, "Series 2001 Bondholder" shall mean any person who (A) has the power, directly or indirectly, to vote or consent with respect to, or to dispose of ownership of, any Series 2001 Bonds (including persons holding Series 2001 Bonds through nominees, depositories or other intermediaries), or (B) is treated as the owner of any Series 2001 Bond for federal income tax purposes. SECTION 6. INCORPORATION BY DEFERENCE. Any or all of the information required herein to be disclosed may be incorporated by reference from other documents, including official statements or debt issues of the Issuer of related public entities, which have been submitted to each of the NRMSIRs and the SID, if any, or the SEC. If the document incorporated by reference is a final official statement, it must be available from the MSRB. The Issuer shall clearly identify each document incorporated by reference. SECTION 7. DISSEMINATION AGENTS. The Issuer may, from time to time, appoint or engage a dissemination agent to assist it in carrying out its obligations under this Disclosure Certificate, and may discharge any such agent, with or without appointing a successor disseminating agent. SECTION 8. TERMINATION. The Issuer's obligations under this Disclosure Certificate shall terminate upon (A) the legal defeasance, prior redemption or payment in full of all of the Series 2001 Bonds, or (B) the termination of the continuing disclosure requirements of the Rule bylegislative, judicial or administrative action. SECTION 9. AMENDMENTS. Notwithstanding any other provision of this Disclosure Certificate, the Issuer may amend this Disclosure Certificate, and any provision may be waived, if such amendment or waiver is supported by an opinion of counsel that is nationally recognized in the area of federal securities laws, to the effect that such amendment or waiver would not, in and of itself, cause the undertakings herein to violate the Rule if such amendment or waiver had been effective on the date hereof but taking into account any subsequent change in or official interpretation of the Rule. SECTION 10. ADDITIONAL INFORMATION. Nothing in this Disclosure Certificate shall be deemed to prevent the Issuer from disseminating any other information, using the means of dissemination set forth in this Disclosure Certificate or any other means of communication, or including any other information in its annual information described in Section 2 hereof or notice of occurrence of a significant event described in Section 3 hereof, in addition to that which is required by this Disclosure Certificate. If the Issuer chooses to include any information in its annual information or notice of occurrence of a significant event in addition to that which is specifically required by this Disclosure Certificate, the Issuer shall have no obligation under this Disclosure Certificate to update such information or include it in its future annual information or notice of occurrence of a significant event. E-4 SECTION 11. OBLIGATED PERSONS. If any person, other than the Issuer, becomes an Obligated Person (as defined in the Rule) relating to the Series 2001 Bonds, the Issuer shall use its best efforts to require such Obligated Person to comply with all provisions of the Rule applicable to such Obligated Person. Dated as of October , 2001 ATTEST: City Clerk. CITY OF CLEARWATER, FLORIDA By: Mayor-Commissioner lE-S 1 CONTINUING DISCLOSURE CERTIFICATE This Continuing Disclosure Certificate (the "Disclosure Certificate") is executed and delivered by the City of Clearwater, Florida (the "Issuer") in connection with the issuance of its $12,000,000 Improvement Revenue Refunding Bonds, Series 2001 (the "Series 2001 Bonds"). The Series 2001 Bonds are being issued pursuant to Ordinance No. [ ], adopted by the City Commission on October [ ], 2001, as supplemented by Resolution No. [ ], adopted by the City Commission on October [ ], 2001 (the Ordinance, as so supplemented is hereinafter referred to as the "Ordinance"). The Issuer covenants and agrees as follows: SECTION 1. PURPOSE OF DISCLOSURE CERTIFICATE. This Disclosure Certificate is being executed and delivered by the Issuer for the benefit of the Series 2001 Bondholders and in order to assist the original underwriters of the Series 2001 Bonds in complying with Rule 15c2-12(b)(5) promulgated bythe Securities and Exchange Commission ("SEC") pursuant to the Securities Exchange Act of 1934 (the "Rule"). SECTION 2. PROVISION OF ANNUAL INFORMATION. Except as otherwise provided herein, the Issuer shall provide to all of the nationally recognized municipal securities information repositories described in Section 4 hereof (the "NRMSIRs"), and to any state information depository that is established within the State of Florida (the "SID"), on or before June 30 of each year, commencing June 30, 2002, the information set forth below in this Section 2. Notwithstanding the immediately preceding sentence, to the extent any such information does not become available to the Issuer before June 30 of any year, the Issuer shall provide such information when it becomes available, but no later than one year following the end of the Issuer's Fiscal Year. (A) the Issuer's Comprehensive Annual Financial Report for the immediately preceding Fiscal Year (the "CAFR"), which shall include the audited financial statements of the Issuer for the immediately preceding Fiscal Year prepared in accordance with Generally Accepted Accounting Principles, as modified by applicable State of Florida requirements and the governmental accounting standards promulgated by the Government Accounting Standards Board; provided, however, if the audited financial statements of the Issuer are not completed prior to April 30 of any year, the Issuer shall provide unaudited financial statements on such date and shall provide the audited financial statements as soon as practicable following their completion; and (B) . to the extent not set forth in the CAFR, additional financial information and operating data of the type included with respect to the Issuer in the final official statement prepared in connection with the sale and issuance of the Series 2001 Bonds (as amended, the "Official Statement"), as set forth below: 1. Updates of the financial information set forth in the Official Statement in the Table labeled "SECURITY FOR THE SERIES 2001 BONDS - Public Service Tax - Historical Public Service Tax Receipts by Category and under the caption "HISTORICAL AND PROJECTED DEBT SERVICE COVERAGE" ( but only to the extent of historical, not projected, data). 2. Description of any additional indebtedness payable in whole or in part from the Pledged Revenues (as defined in the Ordinance). E-1 3. Any other financial information or operating data of the type included in the Official Statement which would be material to a holder or prospective holders of the Series 2001 Bonds. For purposes of this Disclosure Certificate, "Fiscal Year" means the period commencing on October 1 and ending on September 30 of the next succeeding year, or such other period of time provided by applicable law. SECTION 3. REPORTING SIGNIFICANT EVENTS. The Issuershall provide to the NRMSIRs or the Municipal Securities Rulemaking Board (the "MSRB") and to the SID, on a timely basis, notice of any of the following events, if such event is material with respect to the Series 2001 Bonds or the Issuer's ability to satisfy its payment obligations with respect to the Series 2001 Bonds: (A) Principal and interest payment delinquencies; (B) Non-payment related defaults; (C) Unscheduled draws on the debt service reserve fund reflecting financial difficulties; (D) Unscheduled draws on credit enhancement reflecting financial difficulties; (E) Substitution of credit or liquidity providers, or their failure to perform; (F) Adverse tax opinions or events affecting the tax-exempt status of the Series 2001 Bonds; (G) Modifications to rights of Series 2001 Bondholders; (H) Redemptions; (I) Defeasances; (J) Release, substitution, or sale of property securing repayment of the Series 2001 Bonds; (K) Rating changes; and (L) Notice of any failure on the part of the Issuer or any other Obligated Person (as defined herein) to meet the requirements of Section 2 hereof. The Issuer may from time to time, in its discretion, choose to provide notice of the occurrence of certain other events, in addition to those listed in this Section 3, if, in the judgment of the Issuer, such other events are material with respect to the Series 2001 Bonds, but the Issuer does not specifically undertake to commit to provide any such additional notice of the occurrence of any material event except those events listed above. Whenever the Issuer obtains knowledge of the occurrence of a significant event described in this Section 3, the Issuer shall as soon as possible determine if such event would be material under applicable federal securities E-2 law to holders of Series 2001 Bonds, provided, that any event under clauses (D), (E), (F), (K) or (L) above will always be deemed to be material. SECTION 4. NRMSIRs. The NRMSIRs to which the Issuer shall provide the information described in Sections 2 and 3 above, to the extent required, shall be the following organizations, their successors and assigns: Bloomberg Municipal Repositories P.O. Box 840 Princeton, N.J. 08542-0840 Phone: (609) 279-3225 Fax: (609) 279-5962 Email: Munis@Bloomberg.com DPC Data Inc. One Executive Drive Fort Lee, NJ 07024 Phone: (201) 346-0701 Fax: (201) 947-0107 Email: nrmsir@dpcdata.com Interactive Data Attn: Repository 100 Williams Street New York, NY 10038 Phone: (212) 771-6899 Fax: (212) 771-7390 Email: NRMSIR@interactivedata.com Standard & Poor's J. J. Kenny Repository 55 Water Street 45th Floor New York, NY 10041 Phone: (212) 438-4595 Fax: (212) 438-3975 Email: nm-isir-repository@sandp.com (F) Any NRMSIRs that are established subsequently and approved by the SEC. (G) A list of the names and addresses of all designated NRMSIRs as of any date may currently be obtained by calling the SEC's Fax on Demand Service at 202/942-8088 and requesting document number 0206. E-3 SECTION 5. NO EVENT OF DEFAULT. Notwithstanding any otherprovision inthe Ordinance to the contrary, failure of the Issuer to comply with the provisions of this Disclosure Certificate shall not be considered an event of default under the Ordinance; provided, however, any Series 2001 Bondholder may take such actions as may be necessary and appropriate, including pursuing an action for mandamus or specific performance, as applicable, by court order, to cause the Issuer to comply with its obligations hereunder. For purposes of this Disclosure Certificate, "Series 2001 Bondholder" shall mean any person who (A) has the power, directly or indirectly, to vote or consent with respect to, or to dispose of ownership of, any Series 2001 Bonds (including persons holding Series 2001 Bonds through nominees, depositories or other intermediaries), or (B) is treated as the owner of any Series 2001 Bond for federal income tax purposes. SECTION 6. INCORPORATION BY REFERENCE. Any or all of the information required herein to be disclosed may be incorporated by reference from other documents, including official statements or debt issues of the Issuer of related public entities, which have been submitted to each of the NRMSIRs and the SID, if any, or the SEC. If the document incorporated by reference is a final official statement, it must be available from the MSRB. The Issuer shall clearly identify each document incorporated by reference. SECTION 7. DISSEMINATION AGENTS. The Issuer may, from time to time, appoint or engage a dissemination agent to assist it in carrying out its obligations under this Disclosure Certificate, and may discharge any such agent, with or without appointing a successor disseminating agent. SECTION 8. TERMINATION. The Issuer's obligations under this Disclosure Certificate shall terminate upon (A) the legal defeasance, prior redemption or payment in full of all of the Series 2001 Bonds, or (B) the termination of the continuing disclosure requirements of the Rule by legislative, judicial or administrative action. SECTION 9. AMENDMENTS. Notwithstanding any other provision of this Disclosure Certificate, the Issuer may amend this Disclosure Certificate, and any provision may be waived, if such amendment or waiver is supported by an opinion of counsel that is nationally recognized in the area of federal securities laws, to the effect that such amendment or waiver would not, in and of itself, cause the undertakings herein to violate the Rule if such amendment or waiver had been effective on the date hereof but taking into account any subsequent change in or official interpretation of the Rule. SECTION 10. ADDITIONAL INFORMATION. Nothing in this Disclosure Certificate shall be deemed to prevent the Issuer from disseminating any other information, using the means of dissemination set forth in this Disclosure Certificate or any other means of communication, or including any other information in its annual information described in Section 2 hereof or notice of occurrence of a significant event described in Section 3 hereof, in addition to that which is required by this Disclosure Certificate. If the Issuer chooses to include any information in its annual information or notice of occurrence of a significant event in addition to that which is specifically required by this Disclosure Certificate, the Issuer shall have no obligation under this Disclosure Certificate to update such information or include it in its future annual information or notice of occurrence of a significant event. E-4 SECTION 11. OBLIGATED PERSONS. If any person, other than the Issuer, becomes an Obligated Person (as defined in the Rule) relating to the Series 2001 Bonds, the Issuer shall use its best efforts to require such Obligated Person to comply with all provisions of the Rule applicable to such Obligated Person. Dated as of October , 2001 ATTEST: CITY OF CLEARWATER, FLORIDA By: City Clerk .Mayor-Commissioner E-S ESCROW DEPOSIT AGREEMENT This ESCROW DEPOSIT AGREEMENT, dated as of , 2001, by and between the CITY OF CLEARWATER, FLORIDA, a municipal corporation of the State of Florida (the "Issuer"), and , a [national] banking association organized under the laws of the United States of America, as Escrow Holder (the "Escrow Holder"); WITNESSETH: WHEREAS, the Issuer has previously authorized and issued obligations of the Issuer as hereinafter set forth defined as the "Refunded Bonds", as to which the Aggregate Debt Service (as hereinafter defined) is set forth on Schedule A; and WHEREAS, the Issuer has determined to provide for payment of the Aggregate Debt Service of the Refunded Bonds by depositing with the Escrow Holder pursuant to the provisions hereof, cash and Federal Securities (as defined herein), the principal of and interest on which will be at least equal to the Aggregate Debt Service; and WHEREAS, in order to obtain the funds needed for such purpose, the Issuer has authorized and is, concurrently with the delivery of this Agreement, issuing the Series 2001 Bonds more fully described herein; and WHEREAS, the Issuer has determined that the amount to be on deposit from time to time in the Escrow Account, as defined herein, will be sufficient to pay the Aggregate Debt Service; NOW THEREFORE, in consideration of the mutual covenants and agreements herein contained, the Issuer and the Escrow Holder agree as follows (provided however that the Escrow Holder in agreeing to the foregoing shall not be held or deemed responsible in any manner whatsoever for the recitals made herein or in the Ordinance, or the adequacy or sufficiency of the Escrow Requirement): Section 1. Definitions. As used herein, the following terms mean: (a) "Aggregate Debt Service" means, as of any date, the sum of all present and future Annual Debt Service payments then remaining unpaid with respect to the Refunded Bonds. (b) "Agreement" means this Escrow Deposit Agreement. (c) "Annual Debt Service" means, with respect to the redemption date for the Refunded Bonds, the principal of, premium., and interest on the Refunded Bonds coming due on the redemption date as shown on Schedule A attached hereto. (d) "Bonds" or "Series 2001 Bonds" means the Imrpovemeat Revenue Bonds, Series 2001 of the Issuer, authorized by the Ordinance, as herein defined. (e) "Call Date" shall have the meaning set forth in the Issuer's Irrevocable Instruction and Authorization to Redeem Bonds. (f) "Escrow Account" means the account established and held by the Escrow Holder pursuant to this Agreement, in which cash and investments will be held for payment of the Refunded Bonds. (g) "Escrow Holder" means , a [national; banking association organized under the laws of the United States of America. (h) "Escrow Requirement" means, as of any date of calculation, the sum of an amount in cash and principal amount of Federal Securities in the Escrow Account which, together with the interest due on the Federal Securities, will be sufficient to pay, as the installments thereof become due, the Aggregate Debt Service. (i) "Federal Securities" means direct obligations of the United States of America and obligations the principal of or interest on which are fully guaranteed by the United States of America, none of which permit redemption prior to maturity at the option of the obligor. 0) "Irrevocable Instruction and Authorization to Redeem Bonds" means a certificate executed by the Issuer which provides for redemption of certain of the Refunded Bonds on the Call Date, irrevocably instructs the Escrow Holder to give notice of such redemption and directs the paying agent for the Refunded Bonds to pay the Refunded Bonds and the interest thereon upon .surrender thereof at maturity or on their Call Date, whichever is earlier. (k) "Issuer" means the City of Clearwater, Florida. (1) "Ordinance" means Ordinance No. 6873-01, duly enacted by the governing body of the Issuer on October 4, 2001, authorizing the Series 2001 Bonds. (m) "Paying Agent" shall mean. the Paying Agent for the Refunded Bonds. (n) "Refunded Bonds" shall mean collectively, the City's Public Service Tax and Bridge Revenue Bonds, Seris 1985 and the City's Improvement Revenue Bonds, Series 1995. Section 2. Deposit of Funds. The Issuer hereby deposits $ _ with the Escrow Holder in immediately available funds, to be held in irrevocable escrow by the Escrow Holder and applied solely as provided in this Agreement. The Issuer represents that: (a) Such funds are all derived as follows: (1) $ from the net proceeds of the Bonds, 2 (2) $ transferred from the funds held for the payment of the Refunded Bonds; and (3) $ _ from the Debt Service Reserve Fund, representing excess amounts on deposit in the fund as a result of the refunding. (b) Such funds, when applied pursuant to Section 3 below, will at least equal the Escrow Requirement as of the date hereof. Section 3. Use and Investment of Funds. and agrees: The Escrow Holder acknowledges receipt of (a) to hold the funds in irrevocable escrow during the term of this Agreement, (b) to deposit the sum of $ in the Escrow Account, in cash from the amount received by the Issuer (c) to immediately invest $ of such funds by the purchase of the Federal Securities set forth on Schedule B-1 attached hereto, and to immediately invest $ of such funds by the purchase of the Federal Securities set forth on Schedule B-2, (d) to reinvest, upon receipt thereof, any maturing principal and interest of such Federal Securities required to be reinvested pursuant to Schedule C, (e) to deposit in the Escrow Account, as received, the receipts of maturing principal of and interest on the Federal Securities in the Escrow Account. (f) on the date hereof, the Issuer is also depository an additional $ of other funds in the event the Federal Securities are not delivered. Such funds, when added to the deposit described in Section 2 hereof, will be sufficient to retire the Refunded Bonds in full on , 2001. In the event the Federal Securities are delivered to the Escrow Holder, the Escrow Holder shall immediately return such excess deposit to the Issuer. Section 4. Payment of Refunded Bonds. (a) Refunded Bonds. On the redemption date for the Refunded Bonds, the Escrow Holder shall pay to the Paying Agent for the Refunded Bonds, from the cash on hand in the Escrow Account, a sum sufficient to pay the Annual Debt Service for the Refunded Bonds coming due on such date, as shown on Schedule A. (b) Surplus. On the redemption date for the Refunded Bonds, after making the payments from the Escrow Account described in Subsection 4(a), the Escrow Holder shall pay to the Issuer any remaining cash in the Escrow Account in excess of the Escrow Requirement, to be used for any lawful purpose of the Issuer. 3 (c) Priority of Payments. The holders of the Refunded Bonds shall have an express first lien on the funds and Federal Securities in the Escrow Account until such funds and Federal Securities are used and applied as provided in this Agreement. If the cash on hand in the Escrow Account is ever insufficient to make the payments required under Subsection 4(a), all of the payments required under Subsection 4(a) shall be made when due before any payments shall be made under Subsections 4(b). Section 5. Reinvestment. (a) Except as provided in Section 3 hereof, and in this Section, the. Escrow Holder shall have no power or duty to invest any funds held under this Agreement or to sell, transfer or otherwise dispose of or make substitutions of the Federal Securities held hereunder. (b) At the written request of the Issuer and upon compliance with the conditions hereinafter stated, the Escrow Holder shall sell, transfer, otherwise dispose of or request the redemption of any of the Federal Securities acquired hereunder and shall either apply the proceeds thereof to the full discharge and satisfaction of the Refunded Bonds or substitute other Federal Securities for such Federal Securities. The Issuer will not request the Escrow Holder to exercise any of the powers described in the preceding sentence in any manner which would cause any Bonds to be "arbitrage bonds" within the meaning of the Internal Revenue Code of 1986, as amended, and the Regulations thereunder. The transactions may be effected only if (i) an independent certified public accountant shall certify to the Escrow Holder that the cash and principal amount of Federal Securities remaining on hand after the transactions are completed, together with the interest due thereon, will be riot less than the Escrow Requirement, and (ii) the Escrow Holder shall receive an unqualified opinion from a nationally recognized bond counsel or tax counsel to the effect that the transactions will not cause such Bonds to be "arbitrage bonds" within the meaning of the Internal Revenue Code of 1986, as amended, and the regulations thereunder in effect on the date of the transactions and applicable to transactions undertaken on such date. Section 6. No Redemption or Acceleration of Maturity. Except as provided in the Irrevocable Instruction and Authorization to Redeem Bonds, the Issuer will not accelerate the maturity or due date of the Refunded Bonds. Section 7. Responsibilities of Escrow Holder. The Escrow Holder and its respective successors, assigns, agents and servants shall not be held to any personal liability whatsoever, in tort, contract, or otherwise, in connection with the execution and delivery of this Agreement, the establishment of the Escrow Account, the acceptance of the funds deposited therein, the purchase of the Federal Securities, the retention of the Federal Securities or the proceeds thereof or any payment, transfer or other application of money or securities by the Escrow Holder in any non-negligent act, non-negligent omission or non-negligent error of the Escrow Holder made in good faith in the conduct of its duties. The Escrow Holder shall, however, be liable to the Issuer for its negligent or willful acts, omissions or errors which violate or fail to comply with the terms of this Agreement. The duties and obligations of the Escrow Holder shall be determined by the express provisions of this Agreement. The Escrow Holder may consult with counsel, who may or may not be counsel to the Issuer, and in reliance upon the opinion of such counsel shall have full and complete 4 authorization and protection in respect of any action taken, suffered or omitted by it in good faith in accordance therewith. Whenever the Escrow Holder shall deem it necessary or desirable that a matter be proved or established prior to taking, suffering or omitting any action under this Agreement, such matter may be deemed to be conclusively established by a certificate signed by an authorized officer of the Issuer. The Escrow Holder has no duty to determine or inquire into the happening or occurrence of any event or contingency where the performance or the failure of performance of the Issuer with respect to arrangements or contracts with others, the Escrow Holder's sole duty and responsibility hereunder being to safeguard the Escrow.Account and dispose of and deliver the same strictly in accordance with this Agreement. Section S. Resignation of Escrow Holder. The Escrow Holder may resign and thereby become discharged from the duties and obligations hereby created, by notice in writing given to the Issuer and published once in a newspaper of general circulation published in the territorial limits of the Issuer, and in a daily newspaper of general circulation or a financial journal published or circulated in the Borough of Manhattan, City and State of New York, not less than sixty (60) days before such resignation shall take effect. Such resignation shall take effect immediately upon the appointment of a successor Escrow Holder hereunder and payments of all amounts due the resigning Escrow Holder. Section 9. Removal of Escrow Holder. (a) The Escrow Holder may be removed at any time by are instrument or concurrent instruments in writing, executed by the holders of not less than fifty-one per centum (51%) in aggregate principal amount of each series of Refunded Bonds then outstanding, such instruments to be filed with the Issuer, and notice in writing given by such holders to all of the registered holders of each series of the Refunded Bonds and published once in a newspaper of general circulation published in the territorial limits of the Issuer, and in a daily newspaper of general circulation or a financial journal published or circulated in the Borough of Manhattan, City and State of New York, not less than sixty (60) days before such removal is to take effect as stated in such instrument or instruments. A photographic copy of any instrument filed with the Issuer under the provisions of this paragraph shall be delivered by the Issuer to the Escrow Holder. (b) The Escrow Holder may also be removed. at any time for any breach of trust or for acting or proceeding in violation of, or for failing to act or proceed in accordance with, any provisions of this Agreement with respect to the duties and obligations of the Escrow Holder, by the Issuer or by the holders of not less than twenty-five per centum (25%) in aggregate principal amount of each series of the Refunded Bonds then outstanding. (c) No such removal shall take effect until a successor Escrow Holder shall be appointed hereunder. Section 10. Successor Escrow Holder. 5 i (a) If at any time hereafter the Escrow Holder shall resign, be removed, be dissolved or otherwise become incapable of acting, or shall be taken over by any governmental official, agency, department or board, the position of Escrow Holder shall thereupon become vacant. If the position of Escrow Holder shall become vacant.for any of the foregoing reasons or for any other reason, the Issuer shall appoint a successor Escrow Holder to fulfill the duties of Escrow Holder hereunder. The Issuer shall publish notice of any such appointment once in each week for four (4) successive weeks in a newspaper of general circulation published in the territorial limits of the Issuer and in a daily newspaper of general circulation or a financial journal published or circulated in the Borough of Manhattan, City and State of New York, and, before the second publication of such notice shall mail a copy thereof to the original purchaser or purchasers of the Refunded Bonds. (b) At any time within one year after such vacancy shall have occurred, the holders of a majority in principal amount of each series of Refunded Bonds then outstanding, by an instrument or concurrent instruments in writing, executed by all such bondholders and filed with the governing body of the Issuer, may appoint a successor Escrow Holder, which shall supersede any Escrow Holder theretofore appointed by the Issuer. Photographic copies of each such instrument shall be delivered promptly by the Issuer, to the predecessor Escrow Holder and to the Escrow Holder so appointed by the bondholders. (c) If no appointment of a successor Escrow Holder shall be made pursuant to the foregoing provisions of this section, the holder of any Refunded Bonds then outstanding, or any retiring Escrow Holder may apply to any court of competent jurisdiction to appoint a successor Escrow Holder. Such court may thereupon, after such notice, if any, as such court may deem proper and prescribe, appoint a successor Escrow Holder. Section 11. Term. This Agreement shall commence upon its execution and delivery and shall terminate when the Refunded Bonds have been paid and discharged in accordance herewith, and all amounts held by the Escrow Holder hereunder have been applied in accordance herewith. Section 12. Severability. If any one or more of the covenants or agreements provided in this Agreement on the part of the Issuer or the Escrow Holder to be performed should be determined by a court of competent jurisdiction to be contrary to law, such covenant or agreements herein contained shall be null and void and shall be severed from the remaining covenants and agreements and shall in no way affect the validity of the remaining provisions of this Agreement. Section 13. Counterparts. This Agreement may be executed in several counterparts, all or any of which shall be regarded for all purposes as duplicate originals and shall constitute and be but one and the same instrument. Section 14. Governing Law. This Agreement shall be construed under the laws of the State of Florida. Section 15. Security for Accounts and Funds. All accounts and funds maintained or held pursuant to this Agreement shall be continuously secured in the same manner as other deposits of municipal funds are required to be secured by the laws of Florida. 6 71 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by their duly authorized officers and their official seals to be hereunto affixed as of the date first above written. (SEAL) ATTEST: City Clerk Approved as to Form, Sufficiency and Correctness: City Attorney THE CITY OF CLEARWATER, FLORIDA Mayor-Commissioner City Manager 7 as Escrow Holder (SEAL) By: Its: 8 Schedule A (Aggregate Debt Service; Semi-Annual Debt Service; Annual Debt Service; Description of Refunded Bonds) ITFM # 2S ?? Clearwater City Commission .1- Agenda Cover Memorandum Worksession Item #: Final Agenda Item # Meeting Date: SUBJECT/RECOMMENDATION: Approve Ordinance No. 6905-01, amending Chapter 4, Section 4.23 of the Code of Ordinances paragraph (2) to allow traffic reporting aircraft an earlier takeoff time from the airpark, and pass on the first reading. X and that the appropriate officials be authorized to execute same. SUMMARY: To amend Section 4.23 will allow traffic reporting aircraft only to takeoff as early as 6:00 a.m. from the Clearwater Airpark. This is an addition to the established curfew time for all other aircraft, which is 7:00 a.m. This change is necessary to continue fiscal viability and operation of the Clearwater Airpark for the Fixed Based Operator (FBO), due to the closing of the Suncoast Flying Services business based at the airpark. Reviewed by: Legal Info Srvc A Originating Dept.: Marine & Aviation (Bill Morris) Costs Total N/A Budget Purchasing N/A N/A Public Works / DCM/ACM User Dept.: Marine & Aviation Current FY Funding Source: CI Risk Mgmt N/A Other Attachments 1. Ordinance No.6905-01 OP Other Submitted by: City Manager 4>-t,-e-- ?,,?... I3 None ApprODrlatlOn Code: Printed on recvcted oaner ORDINANCE NO. 6905-01 AN ORDINANCE OF THE CITY OF CLEARWATER, FLORIDA, AMENDING SECTION 4.23, CODE OF ORDINANCES, REGARDING RESTRICTIONS AND TAKEOFFS ON LANDINGS; ALLOWING FOR EARLIER TAKEOFF FOR TRAFFIC REPORTING AIRCRAFT; PROVIDING AN EFFECTIVE DATE. WHEREAS, the Clearwater Code of Ordinances restricts aircraft takeoffs at Clearwater Airpark before 7 a.m. WHEREAS, this amendment will allow Traffic Reporting Aircraft to take off at 6 a.m. at the Clearwater Airpark with the permission of the Airport Manager; now, therefore, BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF CLEARWATER, FLORIDA: Section 1. Section 4.23, Code of Ordinances, is amended to read as follows: Sec. 4.23 Restrictions on takeoffs and landings. (1) Purpose. The purpose of this section is to minimize unwanted noise and sleep interruption in residential areas adjacent to Clearwater Airpark, generated by takeoff and landing operations at Clearwater Airpark after dark, and to provide an additional element of safety in the continued use of the airpark facility. (2) Curfew. No aircraft shall be permitted to take off at Clearwater Airpark during the time between one hour after official sunset and 7:00 a. m. the following day and no aircraft shall be permitted to land at Clearwater Airpark during the time between 9:00 p.m. and 7:00 a.m. the following day. Traffic reporting aircraft only may take off at 6:00 a.m. with the permission of the Airport manager. Section 3. This ordinance shall take effect immediately upon adoption. PASSED ON FIRST READING PASSED ON SECOND AND FINAL READING AND ADOPTED Approved as to form: n Carassas Assistant City Attorney Brian J. Aungst Mayor-Commissioner Attest: Cynthia E. Goudeau City Clerk Ordinance No. 6905-01 COPIES TO; October 2, 2001 COMMISSION OCT - 4 2001 Dear Mayor and City Commission: PRESS CLERK / ATTORNEY Please do not change the airpark hours to 6 a.m. due to noise abatement that is already in place for the City of Clearwater and its residents. Think you for considering my urgent request to this major issue. '?a?c? a.c cs-. l?.'v?•C? ,?-e-?C?.?r? ? ? ?,? C? E O. ? ?1 ? ?v:? ?...?.? ? X49 COPIES TO, COMMISSION October 2, 2001 Dear Mayor and City Commission: OCT - 3 2001 PRESS CLERK ! ATTORNEY Please do not change the airpark hours to 6 a.m. for any aircraft takeoffs. per the Noise Abatement Ordinance which currently exists for the City of Clearwater residents who reside/live near the Air(Park). I am opposed to the new time change of 6 a.m. takeoffs for any aircraft. Thank you for considering my urgent request to this major issue. Sincerely, Name & Address [If? 4 "?.._,` sr , ? ? ref ?/ ? ? ..+..? ' %?? ?? .,-?y?? ? I ?,T ???????1.?' i ??" ? L.ALx /'-? +l / ? l (_r?/_1 ' ? ?.,! ; ''? !? mil, I { 3 z t i i t i ji f i S i i E r Agenda: (10/04/01) Item #27 r e tcAl•a Clearwater City Commission 9yATE ??' Agenda Cover Memorandum SUBJECT/RECOMMENDATION: 10 0( Authorize staff to initiate the process to rename North and South Greenwood Avenue to Martin Luther King Jr. Avenue. ? and that the appropriate officials be authorized to execute same. SUMMARY: o The Clearwater/ Upper Pinellas County Branch of the NAACP has requested that the City rename a prominent cross-town street after Martin Luther King Jr. Streets suggested included North and South Greenwood Avenue, and Drew Street. ? Staff has researched the number of businesses and residences which would be impacted by this change. There are 526 on Drew Street and 284 on North and South Greenwood Avenue. ? The staff recommendation is to rename the entire length of Greenwood Avenue from Harbor Drive on the north to Belleair Road on the south. o The name change would be implemented over a two year period in order to minimize immediate impacts to businesses and residences. e Due to the City street addressing system which starts at Cleveland Street and assigns addresses in increasing order going north and south, it will be necessary to maintain the North and South designations. s To avoid having two streets with the same name, staff also recommends renaming the current Martin Luther King Jr. Avenue back to Douglas Avenue. ? The estimated cost to the City to install the new street signs is $5000.00. s If staff is authorized to proceed, a resolution implementing the name change will be brought to the Commission for approval. Worksession Item It: Final Agenda Item It Meeting Date: Reviewed by: Legal N/A Budget N/A Purchasing N/A Risk Mgmt N/A Info Srvc N/A Public Works DCM/ACM Other . Originating Dept: Costs N/A PWA Engineering (rQ llen) Total User Dept. Funding Source: Current FY Cl _ Attachments OP Other Submitted by: City Manager '1o?s Printed nn reevcled naner Rav_ 7/QR IS) None I Aaorooriation Code: 09/27/2001 15:14 7275624755 ENG PAGE 01 ...-1 09/27/2001r 15! 14 -` J r ENG PAGE 02 . ui• vi NAACP Cleairwate!2Upeer Pinellas County Branch P, O. Sm 2073 Clearwater, Florida 33757 (7127) 461-7191 r Bill Hom, City Manager City of Clearwater 112 S. Osceola Ave. Clearwater, FL 33755.5103 (727) 562-M40 i;"_ -..... .J J #- ?I JUL - 9 CITY MANAGER'S OFFICE Dear Mr. Horn: July 4, Z(I01 On several occasions over the past flew years the Clearwater NAACP has met and has discussed options fbr increasing the fairway currently known as Martin Luther King Street, In Clearwater. The board hag, In the past, considered different streets that could be renamed to MLK in order to make it a more prominent road within the city of Clearwater. 'iWo of the roads that have boon discussed and considered are Drew Street, running In its entirety fmm bay to bay or the entire length of Greenwood Avenue running sout:hftrn Harbor Drive. It Is our desire that one of these or another stmel` of similar size and length be renamed either In part (MLK/Drew Street) or in whole (MI-X Street). During several of the past NAACP rneetings, internal promises were made yet noticing has been done; Titus, It is now my request that as soon as the City Council convenes again, they would review this proposal for an MLK expansion and make a decision on which street(s) can be used to eVand/change its [MLK] current route. in comparison, other tides in neighboring areas: Tarpon Springs, St, Petersburg, Safety Harbor and Tampa to name just a few, have already established and/or renamed slgniwcant roads to honor Dr. Martin Luther King. We're simply asking that the City of Clearwater foilow suit, If you have any question or concems about this issue or the committee's views regarding this matter, please feel fie to contact me at my office at your earliest convenience. I appreciate your promptness and candor on this matter, Sincerely, Arthonla Godwin NAACP, Clearwater Branch President NAACP Branch Office P.O. box 2073 Clearwater, FL 33757 (7127) 461-7191 7275624755 Godwin Interiors, Inc. 911 North rMyrtie Ave. Clearwater, FL 33755 (727) 443-2974 TOTAL P.01 09/2'7/2001 15;14 7275624755 ENG PAGE 03 9gso OT m ???o??? Lu?C?er 90o 'a" 0 9AS4 v a 0 Mwcal V (ni 'I e q 0 n ral ULU) -- gK§4J D? v xar on ODD ii 9942 D? vl ? G30 ?g o00 g942 vo? ? ao?g o00 9A36 0 Nwd -nq LL- 000 09/27/2001 15:14 7275624755 ENG PAGE 04 e" IM Li KEENWOOD A VIE. Fairmont Ave. - Belleair Rd. SS SNS @ $SS. 00 16 Overheads @ $100 TOTAL Fairmont St. - Cleveland St.: 34 SNP' ac $55.00 6 Overh eads @ $100 TOTAL Fairmont St. - Drew St.: 29 S'NS @ $55.00 * 4 Overheads @ $100 TOTAL - $3,025.00 _ $Z, 600.00 .4 62'5.00 $1,870.00 $ 600.00 2 4 ro. 00 $1,595.00 - $ 400.00 31, 995.00 * 9 X 60 BLADES + VINYL NAME SIGNS (2) 10/03/01 We received a phone call from Duke Tieman, head of the South Clearwater Citizens for Progressive Action, at 11:00 a.m. on this date with the results of a straw poll including both homeowners and businesses on South Greenwood Avenue. All were asked their opinion on changing the name of Greenwood Avenue to Martin Luther King Jr. Ave. Homeowners response: 47 Yes 53 No Business response (approx. 30 businesses on Greenwood): 12 Businesses polled 12 No Diane Manni Public Works Administration Ow )?: --z7 10/03/01 We received a phone call from Duke Tiernan, head of the South Clearwater Citizens for Progressive Action, at 11:00 a.m. on this date with the results of a straw poll including both homeowners and businesses on South Greenwood Avenue. All were asked their opinion on changing the name of Greenwood Avenue to Martin Luther King Jr. Ave. Homeowners response: 47 Yes 53 No Business response (approx. 30 businesses on Greenwood): 12 Businesses polled 12 No Diane Manni Public Works Administration C) 2 HR 1 Clearwater City Commission o Final Agenda Item # 99w?t>?a.`?°4 Agenda Cover Memorandum Meeting Date: 10/4/01 SUBJECT/RECOMMENDATION: Authorize the negotiation of a contract for health insurance upon terms as contained in the response to RFP 51-01 with United HealthCare with a 19% increase under a fully insured funding arrangement for the contract period of January 1, 2002 to December 31, 2002, at a total estimated annual cost not to exceed $9,741,404 (this includes both City ($6,765,355) and employee/retiree/COBRA/Out-of-Area ($2,976,049) premiums], and renew the mental health/substance abuse and EAP coverage contract to Bradman/Unipsych at an estimated cost of $159,820 for the contract period of January 1, 2002 to December 31, 2002, and continue the current funding strategy for HMO Standard Plan at 100% for "Employee Only", 72% for "Employee plus One", and 62% for "Employee plus Family", with the same dollar amounts contributed to the other three plans (HMO Buy-Up, POS Standard, and POS Buy-Up), N and that the appropriate officials be authorized to execute same. SUMMARY: The contract with the City's current medical insurance provider, United HealthCare, expires on December 31, 2001. In June 2001, the Benefits Committee, headed by the Human Resources Department, distributed a Request for Proposal (RFP) for medical insurance coverage. There were four respondents to the RFP: United HealthCare, Cigna, Humana, and Blue Cross Blue Shield. However, Humana withdrew its response prior to the interview process due to pending internal network changes. The Benefits Committee reviewed the submitted RFPs and used the following criterion to evaluate the proposals in five specific areas: benefits offered, cost, medical network disruption, customer service, and quality. The Committee also interviewed the three respondents. Based on the ratings and interview results, staff and the Benefits Committee recommends United HealthCare be awarded a one-year contract to provide medical insurance coverage for the coming calendar year (January - December 2002). Additionally, staff recommends Bradman/Unipsych be awarded a one-year contract to continue EAP and mental health/substance abuse coverage for City employees and their covered dependents for January - December 2002. The current agreement with Bradman, which went into effect January 1, 2001, guarantees the same rates and services for three years. This renewal would be the second year of the guarantee. For fiscal year 2002, the City has budgeted $6,414,400 for the City's share of both medical insurance coverage and EAP/Mental Health/Substance Abuse coverage. The City's estimated share of these expenses for FY 02, which covers three months of the current contract and nine months of this proposed Reviewed by: Legal ? Info Svcs Budget • ' ublic Wo Purchasi DCM/A Risk Mgmt Ay A Other Originating Dept: Cynthia Bender/Human Resources User Dept. l; I Attachments 0 None Costs Funding Source: Capilal Improveirwnt $9,741,404 CY Costs Submitted by: City Manager M*44101? Printpd on reevc1ed oaner Total $0 FY Costs Current Fiscal Year Operating X Other Appropriation Code: 5 90-07000-545600-519-000-m ed ica I 590-07000-545601-519.000-EAP Rpv. MR contract, is $6,665,286. The difference between budgeted and actual costs, estimated to be $250,886, will be paid out of the Premium Stabilization Fund. Costs related to this contract for coverage from October - December 2002, estimated to be $1,731,293, will be budgeted as part of the fiscal year 2003 budget. Staff also recommends that the current funding strategy for City contributions to health care be maintained (HMO Standard at 100% for "Employee Only", 72% for "Employee plus One", and 62% for "Employee plus Family", and the same dollar amounts applied to the tiers in the HMO Buy-Up, POS Standard, and NOS Buy-Up plans). This recommendation is based on an evaluation with seven of the other benchmark agencies in the area, which shows that retaining the current strategy would place the City second out of eight for employer dollars contributed in all three tiers ("Employee Only", "Employee plus One", and "Employee plus Family"). Copies of the RFP's and selection analyses are available in the City of Clearwater Purchasing Division. 2 N O C9 N 3 Q U r CN 0 CL 0 an as 0 0 on c? CU cm a? E a a .)-f i?D Clearwater City Worksession Item #: 9w°? Commission Final Agenda Item # Agenda Cover Meeting Date: Oct. 4, 2001 Memorandum SUBJECT/RECOMMENDATION: Approve the attached settlement agreement regarding the Markopoulos lawsuit currently pending against the City of Clearwater and Clearwater Seashell Resort, L.C. ® and that the appropriate officials be authorized to execute some. SUMMARY: Since the filing of the lawsuit the parties have continued to conduct discussions in an attempt to resolve the pending litigation. The parties have now reached agreement regarding the terms of a settlement agreement that will terminate the. litigation, subject to approval by the City Commission. The major points of the settlement agreement are as follows: The Markopoulos development (hereinafter referred to as the "development") will consist of the following: • A maximum of 465 resort hotel units and a minimum of 250 resort hotel units with other allowable uses such as residential, retail and other uses in the Tourist District subject to the approved Development Agreement. • No more than 250 units from the resort hotel bonus unit pool. • Parking spaces as required by city code plus an additional 150 spaces. • An elevated pedestrian bridge across Coronado and an elevated bridge across realigned Gulfview. • Exhibits which indicate the conceptual site plan and architectural treatment for the development. • The east side of the project shall include a two level retail facade which will "wrap" the parking structure. Reviewed by: Legal Budget N/A Purchasing N/A Risk Mgmt N/A Submitted by: City HrMannger Info Srvc N/A Public Works N/A DCM/ACM O(e'r ?C Y110 Originating Dept.: Economic Development User Dept.: i?l Economic Development Attachments Settlement Agreement Exhibits © None Costs Total N/A Funding Source: Current FY N/A Cl OP Other Code: Printed on • The City will initiate an amendment to the appropriate local and regional plans to request an increase in the Development of Regional Impact threshold to 750 hotel units as defined in the state statutes. • The Beach Walk and S. Gulfview improvements will be implemented consistent with the conceptual diagram in the attached exhibit, which includes a two lane, one way section of S. Gulfview from the Pier 60 lot to the south property line of the development. • First Street and S. Gulfview will be vacated and Markopoulos will dedicate a "new street" between the development and the Seashell project of no less than 80 feet. • Markopoulos will dedicate 18 feet from the east side of the development which will add to the Coronado right of way. • The development will pay all of the cost.of Beach Walk and S. Gulfview improvements along the west and north boundary of the development; in addition the development will have the same reimbursement of costs as the Seashell project regarding the construction of Beach Walk and S. Gulfview beyond the bounds of the development. • Markopoulos will submit all required site plan and development agreement applications required for development approval. • Provides the opportunity for the City to pursue alternative parking garage options that may lead to a reduction in both the Markopoulos and Seashell parking structures. This paragraph remains in dispute. Markopoulos has not agreed to this provision. • If the development does not commence construction by February 15, 2005, this agreement expires. 1) nol [These proposed terms are for settlement purposes only and shall not be admissible either as testimony or as evidence in any legal proceeding, including, but not limited to, any court of law, administrative proceeding, quasi-judicial proceeding, or legislative proceeding, or for discovery or for any related purpose whatsoever.] Settlement 1. The purpose of this Settlement Agreement is to establish the conditions of settlement of four pending legal actions involving Antonios Markopoulos (d/b/a Day's Inn), A.P. Mar, Inc. (d/b/a Port Vue), Kolossos Inn (d/b/a Beach Towers), T.M. Megas, L.C. (d/b/a Spy Glass), and T.Ivi. Megas, L.C. (D/b/a Gold Beach), (collectively 'Markopoulos"), the City of Clearwater and Clearwater Seashell Resort, L.C., including each of said parties' respective officers, directors, managers, agents, employees, beneficiaries, successors and assigns. 2. Markopoulos owns parcels totaling approximately 3.2 acres along South Gulfview Boulevard and Coronado Avenue (the "Markopoulos Property") which is generally described in Exhibit A to this Agreement. 3. Markopoulos proposes to redevelop the Markopoulos Property in accordance with Beach by Design with resort hotel units and other permitted uses. 4. The proposed development of the Markopoulos Property is comprised of the following elements: {1) a maximum of four hundred sixty-five (465) units together with retail, restaurant and other resort amenities, (2) an allocation of no more than two hundred and fifty (250) resort units from the density bonus pool established by the City in Beach by Design; (3) the development shall include a hotel of at least two hundred and fifty (250) rooms which shall be designed as a fully-amenitized resort destination hotel facility operated under a national or international flag or other marketing affiliation or program consistent with the requirements contained in Beach by Design; (4) any permitted condominium development is limited to a density of thirty (30) units per acre for the land area allocated to condominium development; (5) one hundred and fifty (150) off-street parking spaces above and beyond the number of off-street parking spaces required for the proposed development by the City's Land Development Regulations; (6) an elevated pedestrian bridge across Coronado Avenue; (7) an elevated pedestrian bridge extending from the proposed hotel across the realigned South GLIIfvlew scenic roadway to the west of the Markopoulos Property; (8) the conceptual site plan depicting the layout of the development which is set out in Exhibit B to this Agreement; (9) the ground level of the east side of the proposed garage depicted in Exhibit B shall be developed as street retail uses with a two story facade; (10) the facade of the east side of the proposed garage includes at least two (2) vertical insets of at least ten (10) feet in depth and twenty-five (25) feet in width, which extend from the top of the retail facade to the top of the garage as depicted in Exhibit C to this Agreement, or such other vertical design element which the City determines to be equal or superior in mitigating the mass and scale of the design as provided in Chapter VII, B (3)(c) of Beach by Design; and (11) an architectural style and character which is consistent with the style and character portrayed in Exhibit D to this Agreement. 5. The City agrees that: (1) The City will expeditiously process a complete application for a Development Agreement and Site Plan Approval pursuant to the City's Land Development Regulations for the proposed development of the Markopoulos Property. (2) The City shall, as soon as practicable make application to the Tampa Bay Regional Planning Council and to any other appropriate or necessary agency to increase. the development of regional impact ("DRP) threshold for hotel development to seven hundred and fifty (750) rooms for development and redevelopment on Clearwater Beach pursuant to Beach by Design. (3) The City will implement the Beach Wall: and South Gulfview Improvements in accordance with the design refinements set forth in the Conceptual Plan prepared by Phil Graham & Company which is Exhibit E to this Agreement, provided that, the design shall allow for multiple pedestrian crossing points across South Gulfview from the Markopoulos Property and for reconstruction of the portions of the present Pier 60 parking lot south of the realigned Gulfview Boulevard to beach park improvements. The redesign shall not include any eyebrow parking or other parking facilities or spaces along South. Gulfview abutting the Markopoulos Property. (4) The design and operation of South Gulfview to the north and west of the Markopoulos Property will limit the speed and use of the road consistent with the character of a scenic roadway and vehicular traffic will be limited to no more than Markopoulos Settlement - September 28, 2001 W two, one-way, southbound lanes of travel and appropriate drop off facilities for beach visitors, except as otherwise provided in this Agreement. (5) In the event that realignment of south Gulfview and construction of Beach Walk to the north or west of the Markopoulos Property precedes the development of the Markopoulos Property, the segment of the realigned South Gulfview between the southernmost boundary of the Markopoulos Property and the existing right-of- way of First Street may, at the City's sole discretion, operate as a two lane, two way road until such time as First Street is relocated pursuant to this Agreement. (6) The Development Agreement shall include terms and conditions for the vacation of the existing right of way of First Street between Coronado Avenue and South Gulfview in exchange for the dedication of an eighty foot east-west right of way extending from Coronado Avenue to South Gulfview at the location shown in Exhibit E to this Agreement. The vacation and relocation of First Street shall be contingent upon the commencement of the proposed development of the Markopoulos Property. (7) The Development Agreement shall include terms and conditions for the vacation of the southern and eastern one half (V:!) of the existing right of way of South Gulfview from the exiting intersection of South Gulfview and Coronado Avenue and the northern boundary of the realigned east-west right of way extending from Coronado Avenue to South Gulfview at the location shown in Exhibit E to this Agreement, contingent on Markopoulos's dedication of eighteen (18) feet of additional right of way along the eastern boundary of the Markopoulos property. (8) Markopoulos may, in its sole and absolute discretion, in conjunction with the construction of the proposed development of the Markopoulos Property, design and construct those portions of South Gulfview and Beach Walk located to the south of the Markopoulos Property, subject to the review and approval of plans and designs by the City. (9) The City's professional staff has determined that the conceptual design of the retail facade and facade articulation included in the proposed development are sufficient to justify the deviations in the site plan which is attached as Exhibit B to this Agreement from the Beach by Design floorplate restrictions and satisfy the requirements of Chapter VII, B (3)(c) of Beach by Design. (10) The City's professional staff has reviewed the proposed conceptual development of the Markopoulos Property as described in Paragraph 4 of this Agreement and has determined that the proposed development is, in their professional judgment, consistent with the City of Clearwater Comprehensive Plan, Beach by Design and all other applicable laws and regulations relating to the proposed development. (11) The City will cooperate with Markopoulos in regard to approvals or permits Markopoulos Settlement - September 23, 2001 required from any governmental agency other than the City in order to carry out the proposed development of the Markopoulos Property and where appropriate and necessary to submit applications for such approvals or permits on behalf of the proposed development. (12) In the event that the realignment of South Gulfview and construction of Beach Walk are commenced prior to ivlarkopoulos commencing development of the Markopoulos Property, the City shall, upon filing of a proper request by Markopoulos, grant Markopoulos a right of access over the thirty feet of right of way of South Gulfview which is adjacent to the Markopoulos Property along its boundary to the nortli and east until such time as Markopoulos commences development of the Markopoulos Property and the southern and eastern half of South Gulfview from Coronado to First Street are vacated subject to applicable Charter limitations. (13) The Development Agreement shall include the same reimbursement rights to the Markopoulos Property as heretofore provided to Clearwater Seashell Resort, L.C., namely that the City shall make available fifty percent (50%) of the net increase in ad valorem and utility taxes generated as a result of the development as reimbursement to tilarkopoulos of the construction costs incurred by Markopoulos for the public improvements paid for by Markopoulos with the exception of roadway improvements for the realigned South Gulfview along the western and northern portions of the Markopoulos Property, for a period of 25 years, and shall provide for impact fee credits, if any, which may be available in accordance with applicable regulations for improvements constructed by Markopoulos which are not eligible for reimbursement under this subparagraph. (14) The City will treat Markopoulos as it has similarly situated properties and in accordance with due process. 6. Markopoulos agrees that: (1) Markopoulos will file with the City complete applications for a Development Agreement and Site Plan Approval for the proposed development which applications shall be consistent with each and every provision of Paragraph 4 of this Agreement. (2) Markopoulos will, in conjunction with the development of the Markopoulos Property, dedicate eighteen (18) feet of land along the entire length of the Markopoulos Property to the City for additional right of way for. Coronado A Vctllle, (3) llxcept as provided in Subparagraph 4 of this Paragraph, Markopoulos shall, as part d the construction of the development of the Markopoulos Property, be responsible fur all costs, including design, associated with the design and 4 Markopoulos Settlenicnt - September 28, 2001 construction of the realigned South Gulfview along the western and northern boundaries of the Markopoulos Property boundary and pedestrian amenities along the western and northern boundaries of the Markopoulos Property as depicted on Exhibit D and Beach by Design. (4) As part of construction of the development, Markopoulos shall be responsible for all costs, including design, associated with the construction of the relocated First Street ,. ithin the new First Street right-of-way. The relocated First Street right-of- way shall be designed to minimize impermeable surface coverage, consistent with good traffic engineering to accommodate protected traffic and entrances to the resort properties on each side of the new street. (5) If the City timely notifies Markopoulos that the City wishes to have Markopoulos, in conjunction with the construction of the proposed development, design and construct those portions of South Gulfview and Beach Walk which are located to the south of the N/larkopoulos Property, Markopoulos will design and construct the realignment of south Gulfview and Beach Walk to the south of the Markopoulos Property- provided that the City shall be responsible all costs associated with such realignment of South Gulfview and construction of Beach Walk south of the Markopoulos Property. (6) In the event that the City or the development of the Clearwater Seashell Resort property shall have constructed any of the South Gulfview realignment or Beach Walk improvements to the north or west of the. Markopoulos property, Markopoulos shall reimburse the City or Clearwater Seashell Resort for the cost of such improvements. (7) In the event that Clearwater Seashell Resort property shall have constructed any of the South Gulfview realignment or Beach Walk prior to the time Markopoulos proposes to commence development, and such improvements are affected by the relocation of First Street, [Markopoulos shall be responsible for all costs associated with the construction of the relocated First Street and any improvements necessary to accommodate the relocation of First Street. (3) In the event that the City shall commit to the construction of a parking garage between Coronado Avenue and Hamden to the south of First Street and the City, prior to the time Markopoulos files an application for a building permits for the development ol'the Markopoulos Property as contemplated in Paragraph 4 of this Agreement. requests th<<t the plans for the development of the Markopoulos Property be modified to relocate two (2) decks of parking from the Markopoulos Property to the parking garage to be provided by the City, Markopoulos shall give due consideration to such request and shall not unreasonably withhold approval of the City's request provided that the economic aspects of the parking in the Coronado-l-lamden garage are equal to or superior to the conceptual site plan which is Exhibit 8 to this Agreement and provided that a similar modification 5 Kirkopoulos Settlement - September 28, 2001 has been obtained from the Clearwater Seashell Resort. (9) In the event that the City requests that Markopoulos include public parking in the proposed development of the Markopoulos Property, Markopoulos will make every reasonable effort to accommodate an additional two hundred fifty (250) parking spaces to be open to the public. 7. Subject to approval of this Settlement by Clearwater Seashell Resort, L.C., and approval by the City on or before October 4, 2001, all of said parties agree that they shall jointly file this Settlement with the Court(s) and Division of Administrative Hearings, and ask for an Order of Dismissal with Prejudice, only reserving jurisdiction to enforce the terms and provisions of this Settlement Agreement, and each party shall give mutual releases to the other parties, with each party bearing the respective costs and attorneys' fees. If for any reason the parties all agree to the Proposed Settlement, and the pending suits are not dismissed and mutual releases exchanged as herein within thirty (30) days of the City's approval and execution of this Agreement, then Markopoulos, the City, or Clearwater Seashell Resort, L.C., can terminate this Settlement by notice to the others in writing. 8. Miscellaneous (1) This Settlement Agreement shall inure to the benefit of and be binding upon the respective heirs, assignees, beneficiaries and successors to the parties. (2) This Settlement Agreement shall be effective upon full compliance with the conditions contained herein and approval by the City of Clearwater, and Clearwater Seashell Resort, L.C. (3) If no development agreement is reached, and construction commenced hereunder, on or before February 15, 2005, then this Settlement Agreement shall be of no further force and effect. 6 Markopoulos Settlement - September 28, 2001 Settlement Agreement Exhibit List 1. Exhibit A ...........................................................General Description 2. Exhibit B .........................................................Conceptual Site Plan 3. Exhibit C ..............................................Building Massing Articulation 4. Exhibit D ....................... ..................Conceptual Building Elevations 5. Exhibit E .......................Beach Walk and South Gulfview Conceptual Plan Exhibit A 14 Y r . Y s • yti INN slip. .?•. t?• lIx • J a? 1 by do. ac., q • Y" +• Markopoulos Property YF 1 1 •) hs i EXISTING SPACES SOUTH BEACH 320 PIER 60 237 TOTAL 557 PROPOSED SPACES MARRIOTT SEASHELL PRIVATE 400 PUBLIC 350 TOTAL 750 "EYE BROW" LOTS 50 MARKOPOULOS PRIVATE 465 PUBLIC 150 CITY'S "PUT" 250 TOTAL 865 PIER 60 REMAINDER 70 PRIVATE GARAGES 216 @a 25% PUBLIC TOTAL WOUT "PUT" 620 NETS 63 SPACES AND PRIVATE TOTAL W "PUT" AND 1086 NETS 529 SPACES PRIVATE SPACES ?fT >•?.. `J:ai III I v? .. i•e» d4 o...-- ..+ t _t oio r 00 00 J? Ili ao i1•i .._ 3 ° : •Q fA- D -i All w e.w.? u. •nt + rJ 1 ' ' ZE j x ?• •? ? i ?l'o I' 3 •9 i w r _ Opp:.Ei' n to 7 p g v NL/L1l ? 'Nil N It '? ,.vim fJ , 1?.• • 4k ,,JJ I'• 66 AiM, • ci'r 1 r :F i 10/04/01 THU 15:50 FAX 7274491879 PACNSEND 02- w n A ?? Z t C7 S? COPIE'S TO: COMMISSION PROZ' IS ESIPRO M ISES FOR THE 13 EACH OCT 2001 THE BEST HOPE FOR IMPROVING CLEARWATER'S TOURISM INDUSTRY MAY GO OUT WITH THE TIDE AT TONIGHT'S CLW. CITY COMMIS&kqF &ETING AT-FORNEY THE ARBj2jSrA SHELL AND MARKOPOULOS RESORT PROJECT HAVE • REACHED A LEI CAL SETTLEMENT, 13UT NOW THE CITY COMMISSION THINKS 1 THE, HOTELS WILL BE TOO MASSIVE FOR.THE SOUTH BEACI-I' ! THIS IS AFTER THE SAME CITY COMMISSION APPROVED TWO FIFTEEN- STORY CONDOMINIUMS FOR JMC DEVELOPERS AND A THIRTEEN-STORE' CONDOMINIUM COMPLEX AT THE YACUT BASIN FOR DAVID MACK AND MORE CONDOMINIUMS PLANNED FOR EAST SHORE AND SOUTI•I BEACIV! ONE OWNEII CONDOMINIUMS WITH A FEW GUESTS A YEAR WILL NOT SU11PORT BEACH TOURISM COMPARED 1'0 A QUALITY HOTEL 'T'HA'I' TURNS ! OVER NEW GUESTS WITH NEW MONEY EVERY FEW DAYS, 365 DAYS A YEAR. THE MARRIOTT 250 UNITS AND 460 UNIT NEW RESORT ON I+OUR AND ON HALF ACRES WILL, PROVIDE THE MUCH NEEDED FUNDING FOR BEACH BY DESIGN ELEMENTS, IE: BOARDWALK, BIKE TRAIL, STREET SCAVE, PROMENADE, PARKING GARAGE AND 11, CATALYST FOR CLEARWATER BEACH • ; BUSINESS AND ECONOMIC REDEVELOPMENT. j WITHOUT THE,- SUPPORT OF OUII ELECTED OFFICIALS THE NEEDED BEACH IMPROVE M ENTS, NEW HOTEL D EVI++'LUI'.MENT AND BE, ACH BY DESIGN WILL NOT HAPPEN! THESE TWO QUALITY HOTEL DEVELOPMENTS WILL BRING CONVEN'CIONS, LARGE GROUPS, MEETINGS AND EVEN'T'S 'T'HAT WILL ATTRACT QUALITY MONEY SPENDING CUSTOMERS THAT THE BE, ACH DESPERATELY NEEDS!! DON'T LET THE CONDO DEVELOPERS RUN OVER OUR TOURIST AND VISITOR, INDUSTRY. WE HAVE WAITED TOO LONG AND WORICED TOO HARD WHILE OUR CI'T'Y HAS LET THE BEACH DECLINE. WE WERE, ". PROMISED" BEACH BY DESIGN, PARKING GARAGES AND REDEVELOPMENT. ALL WE'VE GOT ARE CONDOMINIUM 'POWERS, HIGHER TAXES CONSULANT STUDIES MORE CODES AND vEwER CUS'rOmi its j TELL OUR ELECTED OFFICIALS 7l ONTGliT HOW IMPORTANT TOURISM AND NEW HOTEL DEVELOPMENT IS TO THE REACH AND YOUR BUSINESS. THE ATTACK OF SEPTEMBER 11 CIZIPP'LED OUR TOURISM BUSINESS. THE BEACH AND DOWNTOWN CANNOT SURVIVE ANOTHER THREE Y>?A,RS TO START BEACH BY llIESIGN AND NZW HOTEL DEVELOPMENT. VOTE "NOT DELAY" ,TONIGHT - 7 PM NO MORE BROKEN PROMISES ! w1 u v a See Agenda Drawings #29 10/4/01 �„ .. . r� i � , � . E '�� - � - � ' . . , ; . . � .��Eli� #29 � . Thxs item got separated� from its original pack. : The re�t of the pa�k has b�en microf�lrr��d .and xs . , �ocated an xn�crofilm Ro1� #302211 � .; ' r. F i . i . ��-/� , � ; �C.�'�L r�f yinl �� a.� � �'i'hcsc propased terms �irr Far scttic�z�c:tZt ��tirposcs oi�ly .ii�i! shc111 n�t b� �dntissiUlc citlt�r as testimony or as evidcnc� in any I�:�al ��racccdin�, incluclin�, but r�ot limitcd to, any cnurt af' l�tv, adtninistrativc proceedin�, qu.15i-3LidiCt�l �7rc)CCCCIE��, Oi' IC�1Siai1VC �]I'OCCC[�Iri�, ar C�r discov,�ry or f'or any related �urpqsc «•hzts�evcr.J Settlemi�nt 1. The purpose oitl;is Setticmetit A�recuzezYt is to cstat�lisli thL conditiuns ol'scttlement of faur �endin� leg��l actioiis invalviti� Ai�tonias IVIaTko�oulos (dlbla Day's Inn), P..P. Mar, [ne. {dlbla I'ort �'ue), Kolossos Inn (d/bla �3�;:�ci� Towers), T.M. vle��s, L.C. (dlb/a Spy Glass), and T.ibi. Nle�as, L.C. (D/bla Gald �3each), {cc�ll�ctively "Markupoulos"}, the � City of Clear�vater at�d CIearwater Se�shel! Rcsart, L.C., inclut�ing eacl� of said parties' , respective of�cers, directors, nyanagers, a�ents, cmployees, bene�ciaries, successars and assigns. . � 2. Markopoulos owns p�rcels tataliizb a�praxim�tely 3.2 acres along 5outh Gulfvie�� Boulevard and Coronado Avenue (the "Nlarlcopoulos Praperty") �vliicl� is �enerally desc;ribed 'sn �xhibit A t� tl�is Agreement. 3. 1�I�rkap�ulas proposes to redeve�op th� Ntarkopoulos Property in �ccordunce with Beach by Desigrt with resort hatel units and �tiier permitted Uses. �. The Citv �ncl Markopaulos ��rce tlzat the proposed development of the Markopoulos � 1'roperty is comprised of the fol�owing elements: ' (i) a maximurn aE'Fat�r hundred sixty-��� (�GS) units to�etl�er wit� retail, restaurant and other resart ameniti�s; • {2} Marko�aoulas shal! have the ri�;ht to receive au allocatian of L� to �e-�e�a� two hundred and fifiy (250) re:sort units From the density banus poo! established � by t�ie City in I3c�ac12 by Design; . (3) the develapment shal! include � hotel oFat l�ast twa hundred and fifty (250) roams which shall be desi�ned zs a iully-amenitized re�ort destination hotel facility operated under a national or international �lag ar other marketing affiliation ar pro�ram consistent witl� tl�e requirements contained in 13each by Dc�� ign; (4) any permitked condominium dcvelopment is limited to a density of thirty {30) units per acre for the l�nd �rea allacated to cnndominium development; (5} one hundred and fifty (i50) aff-street }�arking spaces aUave and beyond the number of off-street parking spaces required for the prnposed development by ti�e � City's Land Deve�opment Reg�ilations; (6) an elevated pedestrian brid�e across Carouado Avenue; {7) an elevated peclestri.tn Urici�� e;�t�i�clii�� t'r�m tl�e propo5ec! �iotel ,icrass t1i� '. realigiitd 5oitth Gcili�VIC�V S�l'i11C C�lU[I1Vtty to tiic west oCth� 1�t:�rl:opotilu5 Property; ' � ($) tl�e conceptual site �lan dcpictin� the layout ot'th� dcvclapment tvhich is sc:t aut in Exliibit }3 to tl�is A�rccm��tit; � � (9) the groui�d lcvel of�the czst side af the proposcd ��r��e dcpicted iri Exhibit B shall be developed as str�:ct retail uscs wit�i a two story f�c��de; (ZO) t��e facade of tlie cast side ot'the praposed ��ra�e incttides at lcast t�vo (2) vertic�l . insets of at least teii (10) f'eet in deptii and t�venty-five (25} feet in �vidtli, �vhicli • e:ctend fram tize tnp of the ret�il facade t� tlze top of the gara�e as depicted in Eshibit C to tliis A�reem�nt, or sucli other vertic�I desi�n element which tlie City deterntines to be equal or superior i� mitigating the mass �nd sc�le af t41c design as provided in Clia�ter VII, �3 {3)(c) at 13ench 8y Dc�sig�r; and �(11} an architecturai scyle �nd character �vtiie�z is eonsistent with t�7e sty�e an� cl�aracter portraycd in Ex�iibit D to this A�reement. 5. Tl�e City agrees that: (1) The City wi�I expeditiously pr�cess a complete application far a Development ' Agreement and 5ite Plat� A�prov�l pursuant to the City's Land DevcIopment , Regulations for the propased development of the MarkapoEi�os Property. �. {2), Tjie City sl�all, as soon as �ractiCaUle mafc� applicatian to tlz� Tampa Bay � Re�ional P�nnnin� Gouncil and to ��iy ather appropri�te or necessary ���ncy to increase the devetopment af re�ional impact ("DRI"} lhreshold for hotel development to seven hundred �nd.fifty (750) rooms %r deveiopment �nd . redevel�pmenc on Clearwater Beach pursuant to Iteacfa G}f D�:�.S�i�ji. (3} The City wiIl irrtplement tlie Beac�i Walk and South Gulfvie�v Improvements in accordance wikh the desi�n retinements set Forth i� the Canceptual Pl�n prepared by Ptti! Gra�iam & Compan}� �vliicl� is EY��ibit E to this A�reement, provided that, the desi�n shal! allow far multiple ped�strian crossin� paints across Sout�l Guiiview from the Markopoulos Property attd for reconstruetion of t��e portions of the present Pier 6fl parking Iot sautl� of tlie re�li�n�d Gulf�iew Boulevard to ' beach park improvements. The rec�es��;n shall not inciude any eyebraw parkin� or other parki�i� faciIilies or spzces ulong 5outh Guli'view �butting the � M�rkopouios Prop�rty. , (4) The design und operation of' So�tth Gulf'view to the north �znd wesc of'the � Markopoulos Property will liniit thc spe�d ar�d usc of th�: road consistent �vith thc 2 ' Mnrkopoufos Scttlement - Sepien:bcr 2$, 2UUt ciiar�ctcr of'a sccnic raaciway ��i�d v�liicuE:ir trufltl: �VII� �C Iltlltll;t� lU I]U IilOi•c thfi�i lwo, ane-�vay, sutithboti�ici lnncs ot'travcl ai�d .a���•opri,titc dre�p aIT f��cilitics C�r b�:aeh visitors, cx�ept �ts uther«�isc pt•ovidccl in tlsis ��s:i•cctii�tit: (S) �n �the evcnt tl�at r�ali�nment of south Guif'vi�;�v and ��nstru�tion ot' L3�.ich 1�Valk to th� north ur «�est of the �1arl:op�ulus i'ro�crty �rcce�lcs the dc���lapment at'th�: N[arkopatilos Pro�erty. tl�c s��me:�}t of'tl�c rc.ilit�ticd Soutii Gull'vicw i�et�veen tile svt�th�rnniost boundacy ot'the �larl:apoirlos Property c�n�! the existi���; ri�ht-of'- way of I�irst Street may, at the City's solc discretiun, uperate as a two lan�, two , way road until stich tiii�e :�s C� irst Street is reiocated pitirsuant to tliis A�re�:mciit. (G} � The Dcvelopment A�reement shall inc�ucie ter�ils �nd eanclilini�s k'or thc vaeation of the etistin� ri�ht of�way of First Street bctw��:n Corou�do �vcilue �nd Sout�i ' Gul�view in exchan�;e for tlic d�:dicntion af an ei�;hty faot cast-wcst ri�ht oF�vay cxtendin� from Caronado Avei�ue to Soutl� Gtilfvie�v at tltc lac�tia�y sliawn in E:chibit E to t�iis A�reemeilt. Tlic v�catiun and relocation of First Street sha!! be � cantin�ent u�on tlZe commencement af t�ie proposed devela}�m�nt of tiie Markopoulos Property. ThE dedication of th� 80' ri ht-at=«a as aforesaid shail be st�biect to �acation af rirst Sti•eet and �acatioii of Sot�tl� G_u�F�iew Boulet�ard. , nart�� of the Niarl:o at1lp5 pI'O erc�. �vith art exchan�eltr�nsfer of snicl ri�*ht-of �v�v , to Nlar�:apoulos. � (7) The Develapment Agreement s1�a11 includc terms and conditions for the vacatian of f�ie southern �nd eastern at�� ltalf {'/�) of the c�xistin� ri�iit af way of Sout�i � Guifvie�v irom the eYitinb intersectian af South GulF�iew and Caronado Avenue �nd the narthern bot�ndar}� of tiie reali�ned e�st-�vest right of w�iy extendin��from Caronado Avenue to Soutlt Gultvie�v at ttle lacation sha�vn in Exhibjt E to this A�reement, contin�;ent on VlarknQoulos's dedicatian of ei�hteen (18) feet of additional ribht of way alun� the e�stern boundary ofthe Nlnrlcnpoulos property. {8} � Marknpoulos may, in its sole and al�saluce discrction, in conjunction with the construction af tl�e propos�d d�velopment af the vlarkopoitlos Praperty, design and construct thos� partions ot South Gulfview �nd Beach Walk located to t!» soutli of tl�e Markopoulos Property, subject to thc revie�v and approv�l of plans and desigiis by the City. (9) 1'�e City's �rofessiona! sta#t has cictermincci that t�ie conceptuai design of thc retail facade and f�c�cie articulatian inclucied in tlle pronaseci developm�nt are �sufficient ta justify the dzvi�tions ici the sitc plan wl�icl� is attached as Exhibit B to chis A�reement from th�� I3c�ucli by Uc�.s•igri flaorplate resttictio�s and satisfy the requirements of Chagter V[I, Q{3)(c} of Bcluch hy Dc�sign. . (10) The City's pral'essianal st�CFlyas re;vicweci tlsc prnpos�ci concepttt�l developntent , of the M�r�:opoulos I'rc���rty as described in I'ara�raph � Uf t�iis A�reement �nd ����ts determin�d tliat tl�e proposec! developtu�nt is, in tlicir professian��l jud�ment, 3 M�irltn�oulas Settlenteitt - 5cntcitibcr 28, :{1q1 consistent ���itll t�t� City ��f�Cl�ar���atcr Com�rchensive F'I�n; and 13c�cac�fr by De�sig�r a��c-���ic-��ilc.���v�attic�-u:����atiuE���l�at��g-ta-�������o�:�! ��e�c.�+�. (11} �'�'lze City �vill cooperate �vith Nlarkopoulus in re�ard ro approvals nr �ermits required irom any �ovcrnment.11 7�E:I1Cy Ol�1CC tllAil til� Ctiy in orcicr ta carry out the proposed development ot tiic 1�iarkopoulos Property aticl where apprapriatc and necessary to si�bmit applications for scich :�pnrovals or permits on bclialFot the proposed develapment. ' (12) In the event tliat tlie rcaii�nment of Soutl� Gulfvicw �nd ronstruction of n�ac�i `Valk are cammencec� prior ta Markapoi�los cummencin�; d�velopmcnt of the � Markopoulos Property, tIie City shall, upan filin� of a proper request by � Nlarkapoulos, grant Ntarko�oulos a right of access for vehicular and t�edestrian � , purposes over the thirty feet 30' ofrig�tt ofway of Soutli Gulfvie�v tvhicEi is adjacer�t ta the Markopoulos 1'roperty a�ong its boundaiy to th� north and east � until such time as Ivlarkopou�os comm�nces development at the Markopaulos ��� ' . Property and the so�ihern and eastert� l�alf of South GuIFview from Coronado to First Street are vacated st�bject co applica�le Charter limitations. (�3) The Developnient Agreement shall include the s�me reimbursement ri�l�ts ta the Markopaulos Progerty'�s heretoFore provided ta Clearwater Seashell Resort, L.C., namely that ti�e City sliall mal:e available fifty percent {50%) of the net increase in ad valorem and utilify ta��s gen�rated as a result of the development as ' � reimbursement to Markopaulos at tile canstruction cosEs incurred by ; Markapoulos far the public improvements paid for by M�rkopoulas wi�h the eYCeption oFroadway improvements For the realigned Soutki Gulf�i��v along the �, �vest�rn and northern porEions of the Markopoulos Progerty, for a periad of 25 years, ai}d shall provide far impact fee credits, if any, which may be available in accordance with ap�licable re�u�ations for improv�menis constructed by , Markogoulos whicll are not eligible for reimbursement unc�er tllis subpar�graph. {14} The City �vill treat Markopoulos as it has similarly situ�ted �roperties and in . accardance witl� due process. 6. Markopoulos agrees tl�at: (I) Markapoulos will file with the Cily complete applicatians for a Dcvelo}�n�ent A�reement and Site Plan Approval for the proposed dr;velopmeni which a�p�ications shall be consistent with each and every provision ot' Para�raph 4 of ; this Agrcement. {2) II�SArkopoulos will, in conjunctian with the deveia�meni aFth�: Niurkopoulos ' Property, dedic�te eig�iteeti (1$} feet of Iand alon� the entire len�ttt of tlie � Markop�t�los Pra�er�y to tlie City for additional ri�lit of way for Caronado , q. . Markopaulos Scttlernent - Septeniber 28, 2UOE , ��3'' `� . � ., .. . . . . . , , � , Avenuc, (3} Exc�pt as pravided in SuUparaerapl� � of'this Para�rcipli, Niarkopoulas shall, as p�rt of thc constrtiction nf tllc devclopment of ttic Nlar�:opotilos Praperty, be responsible far all costs, includin� dcsi�;n, associated ��vitl� the c�csi�n and . canstruction of the re�li�nc:d Soutl� Gulf'view �long the western and northern bvundaries of tl�e N1ar�:o�otilos �'rop�rty,boundary und p�destri�n amcnities alan5 tl�e ��estern a�id nartlicrn boundari�s of the N[arkopoulas Property as d�picted on Exliibit D and I�cacl: hy� Dc�s•i�rr. � {4) As part of construction af th� de�elopmcnt, Nlarkapoulos shall be responsible for all costs, including �esign, associated �vitli t�ie constrtiction of'tlie retocated Firs[ � Street �vit�iin che ne�v First Street right-at=w�y. "flie relocat�d Pirst Street ri��t-of- way shall be desi�ned to minimize im��rmeable surface cover��e, consistent tivith '�ood traffic en�ineerin� to accommodate pro�ected tra��c aiid entranc�s to t�ie �, resart properties on each side of the ne�v street. ' � (5) If thE City timely notifies Marknpoulos tl�at the City wishes to have Markopoulos, in conjunction wit�i the cor�struction oithe pra�osed deveIopment, design and � construct those portians of Sauth Gulfvie�v and Beacl� Walk which are located to � � the south af the Markopoulos Property, Markopoulos �vill design and construct ' . ihe realignment af south Guifview and Bzach VJalk ko the soutli of the � � Markopoulos Propertyz provided that tl�e City shall be responsible �I� costs � assaciated with such realignment of Sout�i Gulfview and construc�ion of Beach• ,� � Walk south af the Marko�oulos Praperty. � (6) In the event that the City or the c�evelopment of the Clear�vater Seasl�ell Resort gra�er�y shall have constr�cted any of ii�e Stiuth Gulfview re�li�nment or F3each Wa�k improvements to the norch or west af the Markapoulos property, Mar�COpoulos stiail reimb�rse the City or Clean�zter Seashell Resort for tl�e cost . � � of such improvem�nts. , {7} In the �vent tlt�t Clear�vater Se�shell Resart progerty shall have canstructed any af the Soutl� Gulfview reali�nment or Beach W�lk prior ta the time Markopoulos prnpos�s ta cammenc� development, and such i�nprovements ar� aifected by the '� r�Iocation of First Street, Markopaulas s�all be respnnsible for all costs associated wit�i the construction of the relocated First Street and any �m�ravements necessary to accommodate tlie retocatian �f First Street. (8) In the event that the City shall commit to the construction of a garkin� �ara�e betwee�i Coronado Avenue and F�amden to the south of First Strect and the City, within ane 1 vear after th� effective date oFthis A*reement, �r�o�� ��� �ica#�s t�o-dc��e���t�e �+,.,� ,��—�,�.�}..�� +i' c.��. , � requests th�t the plans for tiie devetapment of the Markagoulas �'roperty be S � N]nrkapoufos SetticmeRt - Septe�nber Z8, 20f}1 madificc� io relocate two (2} dccl;s of parkin� t�fOI'i1 tilf: �SaCI:O�]p11�05 �Z'0�]�I•iy ta tl�e �arking �ara�e to be providtd by t1is: Ci�y, vtarkap�ulos s��ail �;ive due consid�ration to sucli request and s�iall �zot unreasonabiy withholil ap�rov�i of t�ie City's renuc:st provided th�t tljc ecanotnic aspccts of thc parking in the Coronado- Hamden �ar��e are equal to or superior to tlle canceptua� site plan which is C:{Illbli B t0 [I115 A�f�eillf'.Ilt anci provided tl�at a simi�ar modific�tion has been abtaiilcd fram tl�e Clearwater S�ash�:il R�sort. {9} In iiie event diat ilzc Ciry requests tliat Markopoulas include public �arlcing in t�ie praposed development of tlie Ntarkopottlos Property, Markopo�lns wil! make , �very reasonabl� eifort to accommodate an additional two hundred fifty (250) parkin� sp�ces ta be open ta the pul�lic. 7. . Subject to �pproval of tliis Settlemenc by CIearwater Seashei� Resart, L.C., and approva! by the City an or before October �, 2U01, all af said parties a�ree tl�at tlzey shaIl }e��t-I3� , ��n 4{�ain C'n*t�n n�nR ��ar�ir4���,�������8���� c%�trhtit!����n' nr.r� nn�� ��i-�F�€#�a��sf���?-�FLj-�Ff�r'E�'�ri 1tL�.�.°.''� i���..16�E3 �}� smnr+♦ l� nrnmm�n4 nnri nnn�� n�]rt���_.rtiilm m�l�fn� ��. �,�e ' ��"�T• j.-i ii�.�i'iL�TC� iI7��TIT"j 'C[[T�c]CiciT�7a C ts,���nr� e�cecute the attached Mutuat Re�ease and f le a'oink motian far dismissal_with prejudice, and an order �ismissin�_preiudice with the court. in � subst�ntiall the farms attached hereto. and all endin matters, and with each party bearing the respective casts and attnrneys' fe�s incurred. If for any reasnn the parties all a�ree ta the Proposed Settlement, and the ioint motion for dismissal is nat filed in all � per�ding suits: a��^*��n �'�-� and mutual releases exchu�ged as l�erein �rovided within thirty (30} days of the City's approva� and e:cecution of this Agreement, then Markopaulos, the City, ar Clearwater Seashell Resort, L.C., can terrrtinate this Settlement by natice to the others in writing. 8, Miscellaneous (1) This Settlement Agrcement shai! i�ure to the benefit of and be bindin� upon tlie respectivs heirs, assi�;nees, t�eneficiaries and successors to tlie parties. � {2) � Tkiis Settiement A�ree�nent slial� be effective upon fuIl compliance with t�ie conditions cantained herein �nd approval by the City of Clearwater, and Clearwater S�ashell Resort, L.C. (3) The terms of this A reement other than the dismissal witlj nrejudice of alI p_endin� matters and the mutual rel�ases related thereta. shalI expire on Februarv 15. 2005. I-�-�►a-�c�leg��t-ag�e�e��-i�-�eas�ie�;-a��-ce e�� tl��'�E��B�j Bt��t�7'#�i��'�r�� ?n—wT�—ciii�i�'l��in C.�Itimm��'�}�°�� �8-6�9-�tF��O�-13-��f�'1..;����t7 4 U fln A roval of ttiis settl�ment b tiie Cit anc� Clearwaker Seashcll Resort, it shali b� undc:rstood and � reed that tlie Cit . Clcarwater Seashell Resort, and 6 Mt�ricop�ulu5 Settiement - 5e�tcmbct 28, 2U01 � • . � � . , ' , >. . . � , ' ,, ' ., . • , � , . . . � . , . ., ' , � •, . , , , , , , �� . ' ' . • ! ' ' . . - , � ' ' � . , � ' ' � • , . . . . ' , . . ; , - , , ' ' F , ' ` ' ' � ' . � ' . ' . , ., � , , .�` � � , . : , �' , : , ,; . , . . . ..� � ; : � . . ., .' . . . . ' . � ;� � � . . . • � • � ' , � � ' . , ' . . ; ' • ,. , '. , � � � , � � i ' . . , . , . i . • . � . � ' • .' � ';�, �� �. �• �Murkopoulas. agree to cooperake anci coordinate in the plannin�, desi�n, and , � .,,,. , ,� , . � c�evelopment c�f the two (2} deve�opment�, and re�aEed �ublie impravements. � ; ,° , .. . . . . , � . ; � � . 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' , .... .,.....�., <.. ... � APPOINTMENT WORKSHEET FOR COMMISSION MEETING October 4, 2001 Agenda #/ BOARD: Municipal Code Enforcement Board MEMBERS: 7 TERM: 3 years CHAIR: Helen Kerwin APPOINTED BY: City Commission MEETING DATES: 4th Wed., 3 p.m. FINANCIAL DISCLOSURE: Required Nov. and Dec. - TBA RESIDENCY REQUIREMENT: City of Clearwater APPOINTMENTS NEEDED: 2 SPECIAL QUALIFICATIONS: Whenever possible, DATE APPOINTMENT MADE: 10/4/01 this Board shall include an architect, engineer, businessperson, general contractor, sub-contractor & a realtor THE FOLLOWING ADVISORY BOARD MEMBER(S) HAVE TERMS WHICH EXPIRE AND NOW REQUIRE EITHER REAPPOINTMENT FOR A NEW TERM OR REPLACEMENT BY A NEW APPOINTEE. Date of Original Attendance Interest in Name Appointment Record reappointment 1. Helen Kerwin 1994* NA NA *appointed to complete term to 1995 appointed 1995 for 1st term reappointed 1998 to serve to 10/31/01 Person appointed will begin Nov.1 st with term to 10/31/04. 2. Duke Tiernan 1996* July 00 - August 01 =12 mtgs. YES *appointed to complete term to 1998 appointed 1998 for 1 st term to 10/31 /01 present 10/absent 2 THE FOLLOWING NAMES ARE BEING SUBMITTED FOR CONSIDERATION TO FILL THE ABOVE VACANCIES: Name-Address 1. David Campbell 2310 Minneola Rd., 33764 2. Richard Avichouser 1621 Gulf Blvd., 33767 3. Kevin Teismann 1560 Gulf Blvd., #802, 33767 Zipcodes of current members: 1 at 33755 1 at 33756 (Mr.*Tieman) 1 at 33761 (Ms. Kerwin) 2 at 33764 2 at 33767 Comments-Related Experience, Etc. Retired computer systems analyst; past member C-View Task Force; CERTAF Realtor/Investor Retired Attorney r Sent, By: GATR CLAWTR ASSN OF REALTORS ; 727 533 8244; 05 Apr 01 9:15PM;Job 195;Page 4/5 3-29-01; 9:37AM;CITY CLERKDEPT. ; 14 ( t)04 'Woo ff CITY 01F CLF-ARWATER - APPLICATION FOR ADVISORY BOARDS (must be Clearwater resident) Names: -;? t C-L. AR,iS tj ,_A U tc.11o v s E Hpme Address: 1 J,. ?k.. j_ 43? Q !?. r- 18 L.. Telephone: S/rf tS..ro 44:2- Office Address: S'ts 2 /t'14 1/0 , . Tom` .. U Al -8 12 W- Zio '3qf=rrk n Telephone: - - ao t„ t S h' / How long a resident of Occupwevn: -X:bR L-m P- ? jAj v g s-rr... z Field of Educsftn: Employer: s 4-= L F Other Work Experience: Y 4s 2c?? as t A ? pus v ???tice If sauced, formar occupedon: C mmunhy Activ tom: a vfQ Xg-s- - 12" o ¢ ro -S V / U F IS C4 a a. o ?cAru iNMAS Other Interred: '?®-r*&y wc?.? ??? , 3 .? ?.h??? ? Boa ml Service (current and past): Board Preference. _'! 'S 4, et q- t2 e 4 =_ uJ CUM M ! "-Y u= L cjc 4 r-- 1' L-AAJ N! W'?, A Q I iu C? Additional Comments. %-I ..-DE V 6-c. cl IAi SO` AD 4E MC- E ata: .rr See attached list for boards that require Financial Disclosure at time of appointment. Please return this applicMion & board quasfionnaire for eaoh board listed to: ?, .. ,. City Clerk's Oapertment, P. O. Box +4748, Clearwater, FL 33758-4748 or drop off at City Halt, 2nd Floor, 112 S. Osceola Avenue AV Sent By: GRTR CLRWTR ASSN OF REALTORS ; 727 533 8244; 3-28-01; 9:37AM;CITY CLERK DEPT. 05 Apr 01 9:15RM;Job 195;Page 4/5 ,tzr tine- woo R I. ? CITY OF CL.EARWATER o APPLICATION FOR ADVISORY BOARDS (must be Clearwater resident) Name: -q tc ,P*424J r--.,.A ylc-1 osE2L Horne Address: Gt??TR Zid ?37L7 Telephone: ? gvr•?e? y? Office Address: S*r '7 /1 t14 iN 5 T .?wnw., ¦ w rim ?.. ---• _ _ _ .?.... V Al 4-=O W Zits 73"? e Telephone:. 2r o 1 S -2r / How long a resident of Clearwater? x/25 -- Occupattion: -1 e i t,-ro Q I .J vim_ Field of F-ducefion: Employer. s SL F Other Work Expenenoe: 'a& a y 4 s jZG-+t, 33r s Ns ??•vc.f If r'etitdd, forrner occupation: ----- CoriU1 unity/ Acttv+tles: C VCO -ra 7" s o Q 10 VS --- -11ILV ar,162 14py -SQi2V C' 64>. 1 x-y Prse a1.Ae' _ q &.6(ji Mims cmer interests: oT? R49,w cam/ .4 chftA&m?w Bid Sefte/(?current and past): Board Preference: `? 1 ? !Q t,?' &(- C M &V7 0J,) M?sf! IAI:* f?? Ls Q Q ?I if ? s0 AA AA V Al V P C? E Addhional Corn ments: / Date: V See attached list for boards that rewire Financial Disclosure at time of appointment. Please return this application & board questionnaire fbr each board listed to: r?1 , n....n . . City CterWs Department, P. O. Brix 4748, Clearwater, FL 337%4748 or drop off at Ci y Hall; 26 d Floor, 1112 S. Osceola Avenue .' - Apt? ...... .... .•r. • .itawLWrr.l.i...Y.r•..?w. , Sent By; GRTR CLR,'ITR ASSN OF REALTORS ; 727 533 8244; 05 Apr 01 9:15PM;Job 195;Page 5/5 a-28-01; 9: 37AM;C I Ty CLERK DEPT. i rz r 004 -woo ,r BOARD QUESTIONNAIRE 1. What io your understanding of the board's dutioa and regponsibilltles? ?1?'G?V l tn, M4 144 2CC G Mm4nj D ^-T 1u w! S. u C. 1T %I _ Cd,., AON. :!.Olt -„ 0M A%-"L t[ q T r ti S tjejZ- L*:nJ Q yS E 10 d 7,121J C 2. Have you ever observed a board meeting either in parson or on C-View, the City's TV station? 3. What background and/or qualifications do you have that you feel would qualify you to serve an this Board? R-G?c.ToP 3 c, ®.¢ns Otis o ?e .v T9& 7* ? r- y *7.J Al 4. Why du you want to serve on this Board? M)? "FEY O '= 6) r V ys Name: 121 C-6,4 ?2 D A/ IC _?o 16e:@oard Name: 011, s? CITY OF CLEARWATER Application for Advisory Boards (must be Clearwater resident) ER: 11 CE IV ED SEP 2 7 1996 01TY GLE-ERK DEPT Flame David W. Campbell Home Address: 2310 Minneola Road Clearwater. Florida ZIP: 34624 Telephone 725-1276 Office Address: ZIP: Telephone How Long a resident of the City of Clearwater? since 1990 Occupation Field of Education: Computer Science Employer Other Work Experience: If retired, former occupation computer systems analyst Community Activities: homeowners association Coalition of Clearwater Homeowners Assoc- iations Other Interests: i' Board Service (current and past) CERTAF. CVIEW Advisory Task Force Board Preference: MCEB Additional Comments: _ Signed: Date: September 27, 1996 Please see attached list for Boards that require Financial Disclosure. PLEASE RETURN THIS FORM TO: City Clerk's Department P.O. Box 4748 Clearwater, FL 34618 . i ??.. f v ?y? n ? ? Cowl ??-?? 1 h?-e r-e5=? 9 Z 77 BOARD QUESTIONNAIRE 1. What is your understanding of the board's duties and responsibilities? Review the cases brought before the board and determine whether th are in violation of the city's Code of Ordinances and/or Community Development Code. 2. Have you ever observed a board meeting either in person or on C-View, the City's TV station? I have watched virtually all of the monthly MCEB meetings for the several years. 3. What background and/or qualifications do you have that you feel would qualify you to serve on this Board? brave been v@Ly active with Clea ater government activities for over ten years including very close coordination with the Community Response Team in their establishment and exercise of policies and procedures for code enforcement. I served as a member of the Code Enforcement Review Task Force (CERTaF), a Commission appointed body, to refine the City's Code of Ordinances. CERTaF was responsible for establishing what is nown o ay as the Community Response eam n numerous occasions I have participated with staff on creation or changing of city codes. 4. Why do you want to serve on this Board? believe that I can serve the Citv of Clearwater well as a member of this board because of my knowledge and understanding of the Community Development Code and Code of Ordinances. I have an understanding of the purpose of the Board and believe I can contribute significantly to its function. Nance: David W. Campbell Board Marne: MCEB ti- 1 CITY OF CLEARWATER - APPLICATION FOR ADVISORY BOARDS (must be Clearwater resident) Name: A ?c- ti J\/ IV /V Home Address: I-I G Zip --:;-3! 6 Telephone: How long a resident of Clearwater?- Occupation: Field of Education: C> ?a y E' 1'' rti ?ti? ? 1 LL' Ct o. a e )-yi e 1 t? If retired, former occupation: Cl C; l % Community Activities: U, (41 1 eul,, I.Dc.- Other Interests: Office Address: Zip Telephone: Employer: Other Work Exaerience: e e, cl - I I c-? - : k <;, r I to (_. S (.') m 1? ! J <ks; L) o e G -? c? V Mss Board Service (current and past): Board Preference: L _?evIcle "i?eL Additional Comments: i Signed: Date. See attached list for boards that require Financial Disclosure at time of appointment. Please return this application & board questionnaire for each board listed to: City Clerk's Department, P. O. Box 4748, Clearwater, FL 33758-4748 or drop off at City Hall, 2nd Floor, 112 S. Osceola Avenue j£-? -Cgt BOARD QUESTIONNAIRE 1 . What is your understanding of the board's duties and responsibilities? L 1 ?'_ ? ?? 1 (? 1~ ?? I ?-? ?'?' ?' ? I.7 (? ..111 ? 1 ? : ? c `> t? ("t ?1: (': ? ? tt t1J ; ?'1 ; L Ir? I M; 4• r" C'1 Cpl L'! c 1 S J " (f 1-1 r ) L' -It Y! K Y'_' l (,7 C J tiIV*' etyUC' -! r J1 t e-"I . t, ? N V? ?? ik 1,,?•!? ?)?' fL tc f N 2. Have you ever observed a board meeting either in person or on C-View, the City's TV station? { PO t,- 3. What background and/or qualifications do you have that you feel would qualify you to serve on this Board? r' t F 1) E?. 1ti1 v Ile C I C2 (1113 r C t i }'Li 14) i (i lL C ? I-) tic'- Cr t L 1, ,t7 r- v t7ci :' 'D `e 0R1'?' iLi? l\111t' o •?' U U2 1??c' loP-0 CI?C CAS. ??? l.' Yl.' l C ? c:2 C f-1 t': r t }Cz IVe7- V 'tVecl " ri ?ts. C. ' j u c' '' a' Z Idu t e_ c t L7 a?'? ?_ f C I e tL? c^ ?? 'J 5 P Vf t? C Irr, i.? Ci ?v^c? 'e. c U i fc, e P1,11 CL 11) JO C- Y1 4. Why do you want to serve on this Board? c,( Av fil 1U C ^e< ?,?, L L-t e G^ Ili1 c ,. L:1 1k `r: f. b 'C' L'tr Q f l[ c{ i, l r ??? e-! l r' C'C-' cc G' f?) e i • tS 1'i' t:e` ?' C t 'T ?? ??, ?' r Lt Q.- (7ot.'t h c cc..i 1 Ct Yur'? 3 (? 1 ?i??ft: : t t` ?c. t ?, ? G_ V fU hVI C i t' \ f J'} l•1 ?I' t L? L !"ti`?liiU ( l.f.?_l1? tt'<< C 111 l )U i?t rL? A?5 UCi,tt?ft'a . C;b" C), 0 ? l•- C? t?' Ji' t?c'i t?C" C' lL l ?c. G??+ t- t { ('?`' Name: t°!?L% l ?' S i1ti Board Name: C!?1(•?? C UC.???`? LrC JLJI iL"IL- i?1 ti -? r Experienced management professional with background in business and law. Extensive administrative experience leading a multi-functional support division. Innovative problem solver of complex operational, personnel, financial and legal issues. Collaborative team-builder able to quickly assess and coordinate talent for superior performance. Recognized ability to design and implement organizational change programs through goal setting, motivation, training, and empowerment. Energetic. leader „ Financial experience Innovative training programs Excellent communication and interpersonal skills Process redesign and quality improvement Effective cost cutter Primex Technologies, Inc., St. Petersburg, FL Vice President, Ethics, Compliance and Internal Audit, 1996 - 2001 Designed and implemented an internal audit, ethics and compliance program for a newly formed 3000 employee publicly held corporation. Provided leadership and strategies to effectively integrate the program into all aspects of the company's operations. Reported to the CEO and the Audit Committee on all issues of ethics, compliance and internal audit. Liaison to Department of Defense for corporate compliance. ¦ Developed new corporate policies. Code of Conduct, employee communication and training initiatives for a program described as meeting or surpassing industry best practices. ¦ Established employee and supplier "hotlines" thereby reducing litigation risks and increasing employee communication. ¦ Directed ethics and compliance officers at 15 national and international locations. ¦ Organized and directed an innovative, value-added internal audit organization. Physics International Company (subsidiary Olin Corporation.), San Leandro, CA 1988 - 1996 Vice-President, Administration/Operations Support, Directed the administrative and support fiinctions for a defense contractor engaged in research, test and production with over 600 employees at four multi-state locations. Functional responsibilities included accounting/finance, human resources, procurement, contract administration, information technology, facilities, security and communications. Led quality improvement initiatives for change to a more customer focused culture. Top-secret clearance. ¦ Managed a major upgrade of the computer hardware and software system. ¦ Achieved a back-to-back 50% annual improvement in return on net assets. ¦ Implemented 40% overhead cost reductions with consistent profitability improvements. ¦ Spearheaded several major acquisitions and dispositions of physical and business assets. ¦ Streamlined the annual forecasting and performance appraisal processes. Olin Corporation, Redmond, WA Vice-President-Assistant General Counsel 1985-1988 Served as legal counsel for Aerospace and Defense Division of the Olin Corporation with responsibility for commercial and government contracting, FCPA, employment law, mergers and acquisitions, intellectual property. Rockcor, Inc, Redmond, WA Vice-President, Secretary and General Counsel 1977-1985 Chief legal officer for Nasdaq listed advanced technology company engaged in aerospace and defense, telecommunications equipment, and energy systems. Add ressograph-Multigraph Corp, Cleveland, OH Corporate Counsel US Securities and Exchange Commission, Seattle and Washington DC Staff Attorney J.D. University of Cincinnati - Law Review Board of Editors B.A. University of Cincinnati Numerous Graduate level Business courses Treasurer, Working Group of Defense Industry Initiative Chairman, Advisory Board of University of Tampa Center for Ethics Washington State Bar Association Ethics Officers Association President, Sand Key Civic Association Gus Stavros Institute, Communication Cove CITY OF CLEARWATER - APPLICATION FOR ADVISORY B (must be Clearwater resident) Name: RDS Home Address: ? ?•t .. ? ? Zip .. • Telephone: t. % t How long a resident of Clearwater? i i-• Occupation: -?• i Field of Education: r Employer: Other Work Experience: w If retired, former occupation: M- Community Activities:' .t{1.:4' Other Interests:.-, ~j ? ? , ?, ? , a ' . ?.? ?? ma`y`' ? . 1? ? Board Service (current and past): Board Preference: 771 Additional Comments: 'J Signed: Date: .? 11j See attached list for boards that require Financial Disclosure at time of appointment. Please return this application & board questionnaire for each board listed to: City Clerk's Department, P. O. Box 4748, Clearwater, FL 33758-4748 or drop off at City Hall, 2nd Floor, 112 S. Osceola Avenue Office Address: Zip Telephone: BOARD QUESTIONNAIRE 1. What is your understanding of the board's duties and responsibilities? 1? 3 2. Have you ever observed a board meeting either in person or on C-View, the City's TV station? 3. What background and/or qualifications do you have that you feel would qualify you to serve on this Board? +' 1 4. Why do you want to serve on this Board? Name: /' ' rd Name: J?:.3a Municipal Code Enforcement Board Special Qualifications: "whenever possible, this Board shall include an architect, a businessperson, an engineer, a general contractor, a sub-contractor-and a realtor". Orig. Expir. Appt. Name/Address Date 1994 Helen Kerwin - Chair 10/31/2001 Retired Dept. Mg r.-Singer Co. 1996 Lawrence "Duke" Tiernan - Vice Chair 10/31 /2001 Realtor/Broker 1996 Franke Huffman 10/31/2002 Architect 1997 David Allbritton 10/31/2003 Building Contractor 1998 Sheila Cole 10/31/2002 Retired - Director National Weight Loss Co. 1998 Joyce Martin 10/31/2003 Retired - federal employee 2000 Pete Caffentzis 10/31/2003 County & Family Court Mediator ,o /6/z/ /Z) c ".1 # INTERLOCAL AGREEMENT ANIONG PINELLAS COUNTY, THE PINELLAS COUNTY CONSTRUCTION LICENSING BOARD, THE CITY OF CLEARWATER, THE TOWN OF BELLEAIR BEACH, THE TOWN OF BELLEAIR SHORE, THE CITY OF REDINGTON BEACH, THE CITY OF NORTH REDINGTON BEACH, THE CITY OF NIADEIRA BEACH, THE CITY OF INDIAN ROCKS BEACH, THE TOWN OF INDIAN SHORES, THE TOWN OF REDINGTON SHORES, THE CITY OF TREASURE ISLAND, AND THE CITY OF ST. PETE BEACH, RELATING TO THE PINELLAS GULF BEACHES COASTAL CONSTRUCTION CODE. WHEREAS, the municipalities containing the beaches along the Gulf of Mexico in Pinellas County including the City of Clearwater, the Town of Belleair Beach, the Town of Belleair Shore, the City of Redington Beach, the City of North Redington Beach, the City of Madeira Beach, the City of Indian Rocks Beach, the Town of Indian Shores, the Town of Redington Shores, the City of Treasure Island, and the City of St. Pete Beach, (hereinafter "Cities", or the singular "City") desire to work cooperatively with each other, Pinellas County (hereinafter "County"), and the Pinellas County Construction Licensing Board(hereinafter "PCCLB") to maintain the greatest level of local control over coastal construction building codes; and WHEREAS, the PCCLB was established by a special act of the Florida Legislature (Chapter 73-595 Part II and Chapter 75-489 Part III, Laws of Florida, as amended) as the sole authority in Pinellas County for establishing building codes and hearing appeals and variance requests for matters pertaining to building codes; and WHEREAS, County and the PCCLB have entered into, or are in the process of negotiating and entering into, a Delegation Agreement with the Florida Department of Environmental Protection (hereinafter "DEP Agreement") for the purpose of establishing coastal construction control lines to ensure protection of the beach-dune system, proposed or existing structures, and adjacent properties and the preservation of public beach access pursuant to Florida Statutes section 161.053(4);and WHEREAS, under the proposed Pinellas Gulf Beaches Coastal Construction Code (hereinafter "Coastal Code"), various responsibilities are placed on the individual local governments to implement and enforce the Beach Code; and WHEREAS, the intent of the undersigned parties is to lay out the provisions necessary to implement the Coastal Code and comply with the DEP Agreement. NOW THEREFORE, the undersigned parties, pursuant to Florida Statutes Chapter 163, hereby agree as follows: FAUSERMATMATM41\WPD0CS\PCCLB\int1ol impleint 09200Ldoc Page I of 15 1) DELEGATION OF POWER The parties to this Interlocal Agreement, hereby delegate all power necessary to the PCCLB to implement the proposed Coastal Code which is attached hereto and incorporated by reference herein. This delegation of power includes, but is not limited to, a grant of power pursuant to Florida Statutes Section 533.73(4)(b)(7), as created or amended by Chapters 2000-141, 2000-154, or 2001-186, Laws of Florida (or as may subsequently be amended), malting the PCCLB the "Countywide Compliance Review Board" as described in that section. This delegation of power further includes the recognition of the ongoing powers and duties of the PCCLB as set forth in Chapter 73-595 Part II and Chapter 75-489 Part III, Laws of Florida, as amended as the sole authority in Pinellas County for establishing building codes and hearing appeals and variance requests for matters pertaining to building codes, as surviving the effective date of the Florida Building Code. 2) INTERLOCAL COOPERATION In the event that a "Local Permitting, Inspection, and Enforcement Authority," as defined in the proposed Coastal Code, has its power to issue permits and conduct inspections suspended pursuant to the Coastal Code, each of the undersigned parties agrees that that City or County will contract for services with one of the other Local Permitting, Inspection, and Enforcement Authorities to serve the needs of the suspended City or County pursuant to the Coastal Code. The services contracted shall include, at a minimum, those services necessary to complete work on outstanding permits or inspections. Such contractual services may be up to and including, complete ongoing contractual services provided by the other Local Permitting, Inspection, and Enforcement Authority for the suspended City or County. Any agreement after the effective date of this agreement for the provision of permitting, enforcement or inspection services with respect to the Coastal Code must be approved by the PCCLB. The approval of the PCCLB shall not be unreasonably withheld, and may be presumed prior to the immediately subsequent, regularly scheduled meeting of the PCCLB, if the City or County contracted with to perform the services, has not itself been suspended from performing such duties by the PCCLB. 3) TERM AND TERMINATION This Agreement shall become effective upon filing with the Clerk of the Circuit Court for Pinellas County. The Agreement may be terminated upon the occurrence of: a) Termination of the DEP Agreement pursuant to its terms, or b) For reasons other than cause, by a party providing a written notice of 6 months to each of the other parties, and after conducting a hearing pursuant to Florida Statutes § 120.569. F:\USERS\A I-MATYK1341\WP000S\PCCLB\intlcl implemt 092001.doc Page 2 of IS 4) AMENDiVIENT PROCEDURES Any party, may initiate an amendment to this Agreement. All amendments shall be in w iting and shall not be effective against any party until executed by, at a minimum, County, PCCLB and one City, and then will be effective only as to signatories to the amendment. Only the Chairperson of the governing body of each party, after approval of the governing body, may execute either this Agreement or any subsequent amendment, unless the entity's charter, governing documents, or ordinances provide otherwise. 5) RESERVATION OF RIGHTS TO SOVEREIGN IMMUNITY AND DECLARATION OF INDEPENDENT STATUS Nothing in this Agreement shall be construed to affect any party's entitlement under Florida Law to sovereign immunity, nor shall this Agreement be construed the create any indemnification by one party of another. This Agreement shall furthermore not be construed to create any agency relationships among the parties or any relationship other than independent contracting entities. (The remainder of this page intentionally left blank) F.\USERSWTTY\ATYK1341\WPDOCS\PCCL13\intlci implemt 092001.doe Page 3 of IS PINELLAS COUNTY ATTEST: KARLEEN F. DeBLAKER, CLERK By: Deputy Clerk (seal) APPROVED AS TO FORM: Office of the County Attorney I PINELLAS COUNTY, FLORIDA, by and through its Board of County Commissioners By: Chairman Date: FAUSERMT7Y\ATYKB4IMPDOCSTCUMinticl implemt 092001.doc Page 4 of 15 PINELLAS COUNTY CONSTRUCTION LICENSING BOARD Attest: Pinellas County Construction Licensing Board ®; Chairman Date: F:\USED.S\ATTY\An'KB4l\WPDOCSIPCCLB\intlcl impl= 092001.doc Pap 5 of 15 CITY OF CLEARWATER Countersigned: Mayor-Commissioner Approved as to form and legal sufficiency: 4 CITY OF CLEARWATER, FLORIDA By: City Manager Date: Attest: City Clerk F:\USEU,WI1'Y\ATYKB41\WPD0CS\1'CCLB\int1c1 impicmt 09200Ldoc Page 8 of 15 DELEGATION AGREENIENT BETWEEN THE FLORIDA DEPARTMENT OF ENVIRONMENTAL PROTECTION, PINELLAS COUNTY, FLORIDA, AND THE PINELLAS COUNTY CONSTRUCTION LICENSING BOARD Whereas, the Florida Department of Environmental Protection, hereinafter referred to as the "FDEP", is charged by the Florida Legislature to establish coastal construction control lines along the sand beaches of the state fronting on the Gulf of Mexico in accordance with s. 161.053, F.S., and Whereas, the purpose of establishing coastal construction control lines is to ensure protection of the beach-dune system, proposed or existing structures, and adjacent properties and the preservation of public beach access, and Whereas, s. 161.053(4), F.S. allows any coastal county or coastal municipality to establish coastal construction zoning and building codes in lieu of the provisions of s. 161.053, F.S. where approved by the FDEP as being adequate to preserve and protect the beaches and coastal barrier dunes adjacent to such beaches which are under the jurisdiction of the FDEP from imprudent construction that will jeopardize the stability of the beach-dune system, accelerate erosion, provide inadequate protection to upland structures, endanger adjacent properties or interfere with public beach access, and Whereas, the affected municipalities, hereinafter referred to as the "Local Permitting, Inspection, and Enforcement Authorities," and Pinellas County, Florida, hereinafter referred to as the "County," collectively possess the interest and resources to adequately administer a program meeting the requirements of s. 161.053, F.S., and Whereas, the Pinellas County Construction Licensing Board, hereinafter referred to as the "Board", was established. by a special act of the Florida Legislature (Chapter 73-595 Part II and Chapter 75-489 Part III, Laws of Florida, as amended) as the sole authority in Pinellas County for establishing building codes and hearing appeals and variance requests for matters pertaining to building codes, and Whereas, the Board possesses the legislative authority to assume the responsibility for accepting delegated authority pursuant to s. 161.053, F.S. by enacting the "Pinellas Gulf Beaches Coastal Construction Code", and Whereas, the County desires to assist the Board in administering the program by monitoring and providing technical assistance to the Local Permitting, Inspection, and Enforcement Authorities charged with administering the program, and F:\USERSIATTY\ATYKB41.\WPDOCS\PCCLB\DELEGATION AGREEMENT FDEP & PCCLB.doc Page I of 5 Whereas, the Board intends to maintain the coastal construction control line as previously established by the Board and adopted by the Governor and Cabinet of the State of Florida on December 19, 1978, and recorded with the Clerk of the Circuit Court for Pinellas County. Therefore, the Secretary of the Department of Environmental Protection delegates to the Pinellas County Construction Licensing Board and Pinellas County, Florida, and the Pinellas County Construction Licensing; Board and Pinellas County, Florida, agree to accept the delegation of authority to meet the requirements of s. 161.053, F.S. under the terms and conditions contained herein. 1. DELEGATED POWERS The Board assumes the responsibility for implementing a locally administered program meeting the intent to s. 161.053, F.S. All functions, powers and duties not specifically delegated in this Agreement are retained by the FDEP. 2. STANDARDS OF PERFORMANCE a. The Board shall implement a program meeting the intent of s. 161.053, F.S. by and through its Pinellas Gulf Beaches Coastal Construction Code, hereinafter referred to as the "Code", which is incorporated into this Agreement by reference. The Code may not be altered without the express written consent of the FDEP. b. The Code shall apply to the Pinellas County barrier islands, as further described in the legal description provided in the Code. C. The Board, without the express written consent of the FDEP shall not approve any variances from the Code. Authorization for variances requested as a result of unusual construction requirements, field conditions, or material hardship shall not be unreasonably withheld by the FDEP. d. Local Permitting, Inspection, and Enforcement Authorities shall administer the Code, as provided for in the Code. e. The County shall provide monitoring services and technical assistance to the Board of the activities of the Local Permitting, Inspection, and Enforcement Authorities as it pertains to their performance and duties subject to the Code. 3. OVERSIGHT AND REPORTING ACTIVITIES a. Because the FDEP retains ultimate responsibility for the Board's activities under this Agreement, the FDEP shall require the following oversight activities: F:\USERS\ATTY\ATYKB41\WPDOCS\I CCLB\DELEGATION AGREEMENT FDEP & PCCLB.doc Page 2 of 5 i. The County shall, on a semi-annual basis, provide a report to the Board summarizing construction activity in Zone 1 and Zone 2- as provided in the Code. The content and format of such reports shall be determined by the >~ DEP. ii. The Board shall investigate: allegations of non-compliance by Local Permitting, Inspection. and Enforcement Authorities required to administer and enforce the Code, where there is reasonable cause. The County shall also include in its semi- annual report a summary of any non-compliance inquiries. iii. The Board shall notify the FDEP in writing of any finding of "Substantial Non-compliance" concerning a Local Permitting, Inspection, and Enforcement Authority. iv. At least once each five years, the FDEP and the Board shall perform an evaluation of compliance with the delegated responsibilities. The purpose of the evaluation shall be to identify strengths and weaknesses in the program and identify improvements. Program evaluations shall be in writing. The Local Permitting, Inspection, and Enforcement Authorities shall be entitled to comment on the draft report before a final written evaluation is issued. 4. TERM OF THE AGREEMENT AND TERMINATION PROCEDURES a. The FDEP may make a finding of substantial non-compliance with this Agreement when the Board has failed to administer the Code in good faith as demonstrated by repeatedly failing to identify and invoke sanctions against Local Pertitting, Inspection, and Enforcement Authorities that: i. Fail to withhold the issuance of permits when issuance is not reasonably warranted under the Code, or ii. Fail to properly perform inspections required under the Code, or iii. Fail to take enforcement action where a violation is revealed during an inspection. b. The FDEP may malce a finding of substantial non-compliance with this Agreement if the Code is amended without its express written approval. C. After having made a finding that the Board is in substantial non- compliance with the terms and conditions of this Agreement, the FDEP F:NUSERS\ATrY\ATYKR41\WPDOCS%PCCL13IDELEGATION AGREEMENT- FDrp& 11CCU3.doc Page 3of5 1, shall conduct a hearing pursuant to s. 120.569, F.S. In the event an FDEP finding of substantial non-compliance is upheld, the Agreement shall be terminated. d. This Agreement may be terminated for reasons other than cause by either party providing a written notice of six months, and conducting a hearing pursuant to s. 120.569, F.S.. 5. AMENDMENT PROCEDURES Either party at any time initiate an amendment to this Agreement. All amendments shall be in writing, and shall be executed by the Secretary of the Department of the Environmental Regulation, the Chairperson of the Pinellas County Construction Licensing Board, and the Chairman of the Pinellas County Board of County Commissioners. (The remainder of this page intentionally left blank.). F:\USER.S\ATTY\ATYKB41\WPQOCS\PCCLB\DELEGATION AGREEMENT FDEP & PCCLB.doc Page 4 of 5 Florida Department of Environmental Protection by David B. Struhs, Secretary Date: ATTEST: Reviewed for Legal Form and Content: Content: by Assistant General Counsel ATTEST: KARLEEN F. DEBLAKER By: Deputy Clerk (seal) APPROVED AS TO FORM: Office of the County Attorney Pinellas County Construction Licensing Board by Paul J. Skipper, Chairman Date: ATTEST: Reviewed for Legal Form and Content: by Attorney to the Board PINELLAS COUNTY, FLORIDA, by and through its Board of County Commissioners By: Chairman F:\USERS\ATTY\ATYKB41\WPDOCS\lSCCLD\DELEGATION AGREEMENT FDEP & PCCLB.doc Page 5 of 5 '?i INTERLOCAL AGREEMENT ANIONG PINELLAS COUNTY, THE PINELLAS COUNTY CONSTRUCTION LICENSING BOARD, AND THE MUNICIPALITIES OF PINELLAS COUNTY, RELATING TO LOCAL BUILDING CODE AMENDMENTS. WHEREAS, Pinellas County contains twenty-four distinct municipalities within its boundaries and is the most densely populated County in the entire Southeast United States; and WHEREAS, it is mutually agreed among the undersigned parties that consistency with respect to building codes throughout this densely populated County benefits local building officials, landowners, and contractors alike; and WHEREAS, the Pinellas County Construction Licensing Board (hereinafter "PCCLB") was established by special act of the Florida Legislature (Chapter 73-595 Part II and Chapter 75- 489 Part III, Laws of Florida, as amended) for the purpose of licensing contractors and as the sole authority in Pinellas County for establishing building codes and hearing appeals and variance requests for matters pertaining to building codes; and WHEREAS, the Florida Legislature has passed the Florida Building Code, a statewide uniform building-code, pursuant to Laws of Florida Chapters 98-287, 98-419, 2000-141, 2000- 154, and 2001-186; and WHEREAS, section 553.73(4)(b), Florida Statutes, which becomes effective January 1, 2002, allows for local governments to make locally applicable technical amendments to the Florida Building Code; and WHEREAS, that section requires that "[e]ach county and municipality desiring to make local technical amendments to the Florida Building Code shall by interlocal agreement establish a countywide compliance review board to review any amendment to the Florida Building Code, adopted by a local government within the county...; " and WHEREAS, the PCCLB is funded and operates purely upon revenue derived from license fees paid by contractors; and . WHEREAS, in the interests of economy of effort, consistency of process, and the consistency among the local jurisdiction building codes, the undersigned parties find that continuing the process in place since 1975 in Pinellas County is in the best interests of the citizens of the county and each municipality. . NOW THEREFORE, the undersigned parties, pursuant to Florida Statutes Chapter 163, hereby agree as follows: rAUSERS\A'r \TYKB4IMPDOCS\PCUMINTERLOCAL CNTYWiDE.doc Page i of 27 1) DELEGATION OF POWER The parties to this InterlocaI Agreement, hereby delegate all power necessary to the PCCLB to continue in its position as the sole authority in Pinellas County with respect to the amendment of building codes countywide. These powers shall be exercised in accordance with the general procedures of Chapter 73-595 Part II and Chapter 75-489 Part III, Laws of Florida, as amended, to the extent not inconsistent with the applicable general state law requirements. To the extent that the aforementioned general procedures are inconsistent with general law, the PCCLB shall stand in the place of the local government solely for the purposes for making local technical amendments to the Florida Building Code, and hearing appeals and variance requests for matters pertaining to building codes. This delegation of power includes, but is not limited to, a grant of power pursuant to Florida Statutes Section 533.73(4)(b)(7), as created or amended by Chapters 2000-141, 2000-154, and 2001-186, Laws of Florida, (or as may be subsequently amended) making the PCCLB the "Countywide Compliance Review Board" as described in that section. 2) TERM AND TERMINATION This Agreement shall become effective upon execution of the parties and filing with the Clerk of the Circuit Court for Pinellas County. The Agreement may be terminated upon a party providing a written notice of 6 months to each of the other ' parties, and after conducting a hearing pursuant to Florida Statutes § 120.569. 3) AMENDMENT PROCEDURES Any party, may initiate an amendment to this Agreement. All amendments shall be in writing and shall not be effective against any party until executed by at a minimum, County, PCCLB and one City, and then will be effective only as to signatories to the amendment. Only the Chairperson of the governing body of each party, after approval of the governing body, may execute either this Agreement or any subsequent amendment, unless the entity's charter, governing documents, or ordinances provide otherwise. 4) RESERVATION OF RIGHTS TO SOVEREIGN IMMUNITY AND DECLARATION OF INDEPENDENT STATUS Nothing in this Agreement shall be construed to affect any party's entitlement under Florida Law to sovereign immunity, nor shall this Agreement be construed the create any indemnification by one party of another. This Agreement shall furthermore not be construed to create any agency relationships among the parties or any relationship other than independent contracting entities. F:IUSERSW'rTY\ATYKB4IMPDOCS\PCCLi MINTERLOCAL CNTYWIDE.Joe Page 2 of 27 PINELLAS COUNTY ATTEST: KARLEEN F. DeBLAKER, CLERK By: Deputy Clerk (seal) APPROVED AS TO FORM: Office of the County Attorney PINELLAS COUNTY, FLORIDA, by and through its Board of County Commissioners By: Chairman Date: F:\USERS\ATTY\ATYKB41\W PDOCS\PCCLB\INTERLOCAL CNTYWIDE,doc Page 3 of 27 ¦ CITY OF CLEARWATER Countersigned: Mayor-Commissioner Approved as to form and legal sufficiency: CITY OF CLEARWATER, FLORIDA By: _ City Manager Date: Attest: City Clerk F:\USERS\ATTY\ATYKB4IMPDOCSOCCLBUNTERLOCAL CNTYWIDE.doc Page 9 of 27