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RESOLUTION
No. b4 - 181
1
WHEREAS, the Bank of Clearwater, Clearwater, Florida, is Trustee
of Construction Trust Fund Agreement dated February lq, 1962, which
Construction Trust Fund is derived from proceeds of the sale of Bridge
Revenue Bonds, Series of 1960; and
WHEREAS, the following U. 5, Treasury Bills are presently held in
• said Construction Trust Fund account:
Maturity value of $40, 000, 00 due 7/31/b5 at Cost $38, b38, 40
Maturity value of $50, aoo. 00 due a/3I/65 at Coat $4s, 370, b7;
and
WHEREAS, it is deemed to be to the bast interest and advantage of
the City that the said U. S. Treasury Bills be transferred to the Reserve
Account of the Bridge Revenue Certificate Sinking Fund;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY
COMMISSION OF THE CITY OF CLEARWATER, FLORIDA,
' iN SESSION DULY AND REGULARLY ASSEMBLED, A5
, FOLLOWS:
1, That the fallowing U. S. Treasury Bills:
Matuxity value of $40, 000. 00 due 7/31f 65 at Cost $38, 638. 40
Maturity value of $50, 000.00 due 8/31/65 at Cost $48, 370. 67
be transferred from the Construction Trust Fund by the Bank of Cleaxwater,
Clearwater, Florida, Truatae thereof of Construction Txust Fund Agreement
dated February 19, 19b2,, which Construction Trust Fund is derived from
proceeds of the sale of Bridge Revenue Bonds, Series of 1960, to the Reserve
Account of the Bridge Revenue Certificate Sinking Fund.
2, That a certified copy of this Resolution ba delivered forthwith to
said Trustee, which said certified copy shall constitute the direction of the
City of Clearwatex to said Trustee to transfer the foregoing U, 5, Treasury
Bills directly to the Reserve Account of the Bridge Revenue Certificate
Sinking Fund forthwith in compliance with Section 5 and other provisions of
said Construction Trust Fund Agreement.
PASSED AND ADOPTED this 7th day of December, 1464.
Ma or-Commissioner
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