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RES 0 L UTI 0 N
No. 84 77
A RESOLUTION AUTHORIZING THE ISSUANCE OF NOT
EXCEEDING $11,120,00U.00 GENERAL OBLIGATION
BONDS OF THE CITY OF CLEARWATER, FLORIDA, TO
FINANCE THE COST OF MUNICIPAL PROJECTS IN
THE CITY: PROVIDING FOR THE CALLING A 'BOND
ELECTION OF THE QUALIFIED ELECTORS RESIDING
IN THE CITY TO BE HELD ON DECEMBER 4, 1904,
ON THE QUESTION OF THE ISSUANCE OF SUCH
GENERAL OBLIGATION BONDS; AND PROVIDING AN
EFFECTIVE DATE: AND PROVIDING FOR PROPER
NOTICE OF PROPOSED ENACTMENT.
BE IT RESOLVED BY THE CITY COMMISSION OF
THE CITY OF CLEARWATER, FLORIDA, IN SESSION
DULY AND REGULARLY ASSEMBLED, AS FOLLOWS:
Section 1. Authority of this Resolution. This Resolution is
adopted pur~uant to Ordinance No. 1830 of the City of Clearwater;
Chapter 166, Part II, Florida Statutes; Sections 100.201, et seq.,
Florida Statutes; and other applicable provisions of law.
section 2. Authorization of Bonds. Subject and pursuant to
the provisions hereof, General Obligation Bonds dated May 1,
1985 (herein called uBondsU) of the City of Clearwater, Florida
,(herein called UCity)), are authoriz~d to be issued in denominations
of $5,000.00 or multiples thereof, in the aggregate principal amount
of not exceeding Eleven Mi.llion One Hundred Twenty Thousand Dollars
($11,120,000.00) to finance the projects of the City as described
in paragraphs numbered (1) and (2) in Section 3 hereof. The moneys
received and interest earned from the issuance of such General
obligation Bonds will be used for such purposes. Such General
" Obligation Bonds shall be secured by the full faith and credit and
the taxing power of the City. None of such bonds shall be issued
for a longer term than thirty (30) years trom their date and
issuance, and such bonds shall bear interest at a rate not exceeding
14%; the actual rate shall be determined upon sale of the bonds.
Both Principal of, interest on the bonds, and redemption premiums,
. if any, shall be payable at the office of the FiP~.1ce::Director or.at.th,e
office of such other paying agent as may be designated by this
Commission. The bonds shall mature in such amounts and on such
'.
dates as provided on Schedules A and B, attached to this Resolution,
, " provided, however, that such amounts in any such year may be revised,
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if required by market conditions at the time.of sale of the bonds,
Res.. 84-71 "
10-4-84 .
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so long as all bonds mature no later than thirty (30) years after
the date of issuance thereof.
The Bonds shall be issued pursuant to authority granted under
this Resolution and authority granted by Ordinance No. 3757-84 of
like effect adopted by the City Commission on even date herewith.
Section 3. Bond Election. A bond clocdon of the qualified
electors residing in the City is hereby called to be held on
December 4, '1984, to determine whether or not the issuance of such
"
General Obligation Bonds in an aggregate amount of not exceeding
Eleven Million One Hundred Twenty Thousand Dollars ($11,120,000)
shall be approved by such qualified electors to finance the cost
of the following municipal purposes 'within the City:
(1) $3,860,000 to provide for acquisition of land, to
expand and improve existing Bayfront parks and recreation facilities
and for the beautification of the existing Bayfront through the
creation of a greenbelt and a public waterfront promenade, and to
beautify the Causeway medians, in the area bounded generally by
Drew Street, Osceola Avenue, Pierce Street, and Clearwater Harbor.
(2) $7,260,000 to provide for the acquisition of land
North and South of existing Bayfront park to expand the Bayfront
park system for active and passive parks and recreation, including
concession, support and leisure activity facilities on such land,
i.n the area between Jones Street, Osceola Avenue, Drew Street and
Clearwater Harbor, ,and in the Ctl:ea West and South of the intersection
of pierce Street and Pierce Boulevard.
All of such purposes described above shall also include other
purposes appurtenant or incidental thereto.
All qualified electors residing in the City shall be entitled
and permitted to vote in such bond election. The places of voting
and the inspectors ,and clerks for the bond election shall be
designated as provided by the Code of Ordinances, city of Clearwater,
and by applicable State Law. The polls will be open at the voting
places from seven (7) o'clock A.M. until seven (7) o'clock P.M.
on the same day.
Section 4. Official Ballot. Electronic voting system shall
.be used'at such bond election and the form of ballots to be used
shall be in sub~tantially the following form:
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OFFICIAL BALLOT
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CITY OF CLEARWATER, FLORIDA
BONO ELECTION - DECEMBER 4, 1984
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Proposition No. 1 - Bavfront Park Renewal
Shall the City of Clearwater, Florida, issue not
exceeding $3,860,000.00 principal amount of
General Obligation Bonds of the City bearing
interest not in excess of 14% per year (the actual
rate of interest to be determined at the time
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of the salp of the bonds), maturing as provided
in Ordinance No. 3757-84 and in Resolution No.
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84-77, but in any event not later than thirty
(30) years from the date of issuance thereof,
secured by the full faith and credit and the
taxing powers of the City, for the purpose of
rehabilitating Coachman Park, the Bayfront tennis
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complex, and medians on Memorial Causeway; create
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a waterfront promenade, and acquire land to complete
the greenbelt link, as more specifically described
and provided in Ordinance No. 3757-84 and in
Resolution No. 84-77 of the City.
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Proposition No. 2 - Bayfront Park Expansion
Shall the City of. Clearwater, Florida, issue not
exceeding $7,260,000.00 principal amount of General
Obligation Bonds of the City bearing interest not
in excess of 14% per year (the actual rate of interest
to be determined at the time of the sale of the
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bonds), maturing as provided in Ordinance No. 3757-84
and in Resolution No. 84-77, but in any event not
later than thirty (30) years from the date of issuance
thereof, secured by the full faith and credit and
the taxing powers of the City, for the purpose of
financing land acquisition to expand Bayfront park
system for active and passive parks and recreation,
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as more specifically described in and provided in
Ordinance No. 3757-84 and in Resolution No. 84-77
of the' City.
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The ballots and electronic voting system shall be so arranged
that the voter may vote "FOR BONDS" or "AGAINST BONDS" with respect
to each proposition.
Section 5. Absentee Voting. Punch card ballots shall be used
at such election for absentee voting. The form of ballot to be
"
used in the election for absentee voters shall be in substantially
the form provided in Secteion 4 above.
Section 6. Printinq of Ballots. The City Clerk of the City
is authorized and directed to have printed punchboard ballots in
a sufficient number of the aforesaid ballots for use of absentee
electors entitled to cast such ballots in such bond election,
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and shall also have printed sample ballots and deliver them to
the Inspectors and Clerks on or before the date and time for the
opening of the polls for such bond election for the voting places
at Which the electronic voting system is to be used; and further
is authorized and directed to have printed punchboard ballots
and delivered in accordance with law the official ballots for use
in such electronic voting system and to make all appropriate
arrangements for the conducting of such bond election.
Section 7. Election Procedure. The bond election shall be
held and conducted in the manner prescribed by law for holding
general elections. The Election Board at each polling place shall
conduct the vote and deliver the ballots in sealed containers.
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Their report shall show the number of qualified electors who voted
at such bond election. The ~allots shall be processed by electronic
tabulation equipment and the, cumulative report shall, within
twenty-four (24) hours after the close of the polls, be canvassed
by the City Commission of the City, which shall declare and
certify the results of such bond election.
Section 8. Election Results. If a majority of the votes
cast at such election in respect to any proposition or group of
such General Obligation Bonds shall be "For Bondsu, such proposition
or group of bonds shall be approved; and then the particular bonds,
the issuance ~f Which shall be thereby approved, shall be issued
as shall be provided by the City. The rejection at such election
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of any proposition or group of General obligation Bonds proposed
by this Resolution to be issued shall not prevent the approval of
the other propositions or groups of bonds proposed by this Resolution
to be issued; and anyone of such propositions or groups of bonds
which may be so approved shall be issued as shall be provided by
the City. Any ordinance or resolution authorizing the issuance
of any general obligation bonds approved by the election called by
this resolution and the general obligation bonds so issued shall,
in addition to any other covenants, contain the following covenants:
(1) No land purchased with any part of the proceeds
derived from the issuance of general obligation
bonds may be utilized for other than park and
park related purposes to include concessions and
support systems, and minor utility service facilities.
(2) No land acquired with the proceeds derived from.
the issuance of general obligation bonds may be
resold.
(3) No ge.neral obligation bond proceeds may be utilized
to construct office buildings, condominiums, motels,
hotels, convention center, auditorium, marina or
restaurant.
(4) $100,000 of the proceeds from this bond issue shall be
the maximum dollars available for the beautificat~on of
the causeway medians.
Section 9. Notice of Bond Election. This Resolution shall
be published in full at least one time by the City Clerk as part
of the notice of such bond election, which notice shall be headed
"Notice of Bond Issue for Public Improvement". Notice of the
,bond election shall be published: ,in a dai;ty ,newspaper, in general
circulation in the City as a legal ad of the paper and under
headlines of 7 point type. The notice shall be published at least
,twice in such paper, once in the fifth week and once in the third
week prior to the week in which the bond election is to be held,
the first publication to be not less than thirty (30) days before
the dateof,such bond election.
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Section 10. Severability. In the event that any word, clause,
phrase, or sentence or paragraph hereof shall be held invalid by
any court of competent jurisdictior., such holding shall not affect
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any other word, clause, phrase, sentence or paragraph hereof.
section 11. Repealinq Clause. All Resolutions or other actions
taken by this Commission in conflict or inconsistent herewith
hereby are repealed, insofar as there is conflict or inconsiste~cy.,
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Section 12.
Effective Date.
This Resolution shall take effect
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immediately upon its passage.
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day of October;
PASSED AND ADOPTED AS AMENDED this
A.D. 1984.
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Attest:
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NOTICE OF BOND ISSUE POR PUBLIC IMPROVEMENT
CITY OF CLEARWATER, FLORIDA
MUNICIPAL BOND ELECTION
To be Held 6n Tuesday, December 4, 1984,
As Provided by Ordinance No. 3757-84 and
by Resolution No. 84-77 of the City of
Clearwater.
Notice is hereby given that a municipal bond election will be
held in the City of Clearwater, Florida, on Tuesday, December 4, 1984,
to determine whether the issuance of General Obligation Bonds of
the City for all or any of the two several projects in respective
amounts not exceeding $3,860,000.00 for land acquisition to expand
existing Bayfront parks and recreation facilities and b~autification~
and $7,260,000.00 for land acquisition North and South of existing
facilities for active and passive parks and recreation facilities,
as more specifically described and provided in Ordinance No. 3757-84
and in Resolution No. 84-77 of the City of Clearwater, Florida,
calling the bond election, shall at that time be approved severally
by a 'majority of the votes cast, in the bond election by the qualified
electors in the City of Clearwater. The bonds shall be dated
Hay 1, 1 985.
As required by Ordinance No. 3757-84 and by Resolution No.
84-77, this notice is given by publishing the foregoing Resolution
No. 77-84 in full as follows:
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$3,860,000 Principal Amount of General Obligation Bonds for
Acq~isition of land for expansion of Bayfront park system and
to beautify the system and the Causeway:
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May 1,
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
'2001
2002
2003
2004
2005 J.
'2006
2007
2008
2009
2010
2011
2012
2013
2014
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$
:30,000
30,000
30,000
35,000'
35,000
40,000
45,000
45,000
50,000
55,000
60,000
65,000
70,000
80,000
85,000
95,000
'105,000
115,000
130,000
140,000
155,000
170,000
190,000
210,000
230,000
255,000
280,000
310,000
340,000
380,000
$3,860,000
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SCHEDULE B
4>>
Maturity Schedule for Proposition No. 2
$7,Z60,000 Principal Amount of General Obligatlon Bonds for
Acquisition of land to expand Bayfront park syste~ for active
and passive parks and recreation:
May 1, 1985 $ 50,000
1986 55,000
1987 60,000
1988 65,000
1989 70,000
1990 75,000
1991 80,000
1992 85,000
1993 95,000
1994 105,000
1995 110,000
1996 125,000
1997 135,000
1998 145,000
1999 165,000
2000 180,000
2001 195,000
2002 220,000
2003 240,000
2004 265,000
2005 290,000
2006 320,000
2007 355,000
2008 390,000.
2009 435,000
2010, 4aO,000
2011 530,00~
2012 '585,000
2013 645,000
2014 710,000
$7,260,000
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