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R E S O L U T I O N
No. 67 - 114
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WHEREAS, by Ordinance No. 1115, duly adopted on July 3, 1967,
this City Commission authorized the issuance of $1, 250, 000 Utility Revenue
Certiiicates,~.Series of 1967; and
WHEREAS, said Ordinance provides that the proceeds derived from
the sale of said Certificates, less accrued interest, shall be deposited in
trust with a bank or trust company in the State of Florida, in a Construction
Trust Fund under a "Construction Trust Fund Agreement" in order to ensure
the application of such certificate proceeds to the purposes provided in the
aforesaid Ordinance; and
WHEREAS, said certificates have been awarded and sold; and
WHEREAS, the First National Sank of Clearwater, Clearwater,
Florida, has agreed to act as Trustee of such Construction Trust Fund;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY
COMMLSSION OF THE CITY OF CLEARWATER~ FLORIDA,
IN SESSION DULY AND REGULARLY ASSEMBLED. AS
FOLLOWS:
1. That immediately upon the delivery of said $1, 250, 000 Utility
Revenue Certificates, Series of lyb7, the City Manager, Mayor~Commissioner
and City Clerk be and they are hereby authorized to execute, on behalf of
the City, the Constructiun Trust Fund Agreement in the form and language
annexed hereto as Exhibit A and made a part hereof, the form of which
agreement has been approved by the City Attorney.
2. That this Resolution shall take effect immediately upon its
passage.
PASSED AND ADOPTED this 20th day
ovember, A. D. 1967.
' Attest:
~.
' C Clerk•',• •
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