87-13
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RBSOLUTION
No. 87-13
A RESOLUTION OF THE CITY OF CLEARWATER, FLORIDA,
AUTHORIZING AND APPROVING AN EXTENSION OF THE
MATURITY OF THE $5,100,000 WATER AND SEWER REVENUE
BOND ANTICIPATION NOTE, SERIES 1986, OF THB CITY OF
CLEARW ATER, FLORIDAJ PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, the City of Clearwater, Florida (the "Cltyll), has by Resolution No.
86-63, authorized the issuance and sale of a $5,700,000 Water and Sewer Revenue Bond
Anticipation Note, Series 1986 (the "Notetl) of the City, to Sun Bank/Suncoast, N.A.,
St. Petersburg, Florida; and
WHEREAS, the City contemplated retirement of the Note, which matures
April 7, 1987, from the proceeds of authorized but unissued Water and Sewer Revenue
Bonds, Series 1984, to be sold at public sale; and
WHEREAS, the City now anticipates sale of the bonds on May 7, 1987 with
closing to occur within thirty days thereafter; and
WHEREAS, Sun Bank/Suncoast, N.A. has agreed to extend the
maturity ot the bond anticipation note for a period of ninety days at a reduced interest
rate of 6.196;
Attesb'
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Rea., 87-13
4/2/87
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