73-70
t.
C
RESOLUTION
tip; No, 73 X70
f.,..41
1r E RESOLUTION PRESCRIBIN4 FORM AND
AUTHORIZING EXECUTION OF CONSTRUCTION
TRUST FUND AGREEMENT.
lip
WHEREAS, by Ordinance No. 1399 duly adopted on July 24, 1972,
this City Commission authorized the issuance of $9, 000, 000 Utility Revenue
Certificates, Series of 1972; and
WHEREAS, said Ordinance provides that the proceeds derived from
the sale of said Certificates, less certain deposits required to be made into
certain accounts, 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 awaxded and sold; and
WHEREAS, the Barnett Bank of Clearwater, Clearwater, Florida, has
agreed to act as Trustee of such Construction Trust Fund;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY
COMMISSION OF THE CITY OF CLEARWATER, FLORIDA,
IN SESSION DULY AND REGULARLY ASSEMBLED, AS
FOLLOWS:
1. That immediately upon the delivery of said $9, 000, 400 Utility Revenue
Certificates, Series of 1972, the City Manager, Mayor-Commissioner, City
Cleric and. City Attorney be and they hereby are authorized to execute, on behalf
of the City, the Construction Trust Fund Agreement in the form and language
annexed hereto 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 passage.
PASSED AND ADOPTED this 21
Attest:
U
. L2?,& ?
Deputy City Clerk
Rees.#73-70
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5-21-73
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