75-37? dom..
F,I:.
RESOLUTION
No. 75 - 37
WHEREAS, it is necessary and appropriate that the CITY OF
CLEARWATER enter into an Escrow Agreement with a Bank in the
City of Clearwater, Florida. having trust powers in order to accomplish
the prior redemption of tho $986.000 Bridge Revenue Bonds, dated
November 1, 1960 (herein sometimes called the "Outstanding Bridge
Bonds 11); and
WHEREAS, the CITY OF CLEARWATER has sold $5, 100, 000
Bridge Revenue and Utilities Services Taxes Bonds, dated June 1, 197+4,
and part of the proceeds thereof are to be deposited with a Trustee to
accomplish the foregoing purpose;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY
COMMISSION OF THE CITY OF CLEARWATER, FLORIDA,
IN SESSION DULY AND REGULARLY ASSEMBLED, AS
FOLLOWS :
1. The Bank of Clearwater, Clearwater, Florida, a banking
corporation organized and existing under the laws of the State of Florida,
and having trust powers is hereby designated as the Trustee for the
purpose set out in Ordinance No. 1520 of refunding said Outstanding
Bridge Bonds, and to hold the necessary funds in an Escrow Agreement
substantially in the form annexed hereto as Exhibit A.
2. That Escrow Agreement is approved and ratified and the City
hereby binds itself to the provisions thereof, and the Mayor, City Manager,
City Clerk and City Attorney be and they are hereby authorized to execute
the same for the City.
3. That the official of the City and the only official of said City
authorized to make the request of the Trustee to invest or reinvest according
to Section 3 of said Escrow Agreement shall be the City Treasurer until
further resolution of this Commission.
MB0 X175-37 .
i11ti'ztc?••irM' sn1:.;+.°; •r +?,? .
3-3.75
S
4 .Tl4 '
4, That the Trustee shall be compensated for its service, as
follows
$15D for bank services plus reimbursement
for out of pocket costs incurred pursuant to
terms of the Escrow Agreement.
5, That this resolution shall take effect immediately upon its
passage.
PASSED AND ADOPTED this 3rd day of March, A. D. 1975.
` r 11?
Mayor-Corn stoner
Attest:
00,
Ci Clerk
k
0
' ''I ? 1111
, ..f'
• .. _2 - ?
?;
,
-'t
r, x'1 •' ,
` '
.
i:.}? ,,
L
`°
5
'
: :; ' ; ??
75?37::.:
`
k
.:
•'.
8B0 3_3_7.5
K.
.
F
?
j?
1 .!f
{ :.?/j`l?y?Au!•Z .`k
!'rf
. r;l{Yf t ?'? "e: 1' „i110
???
!
{
??('aW?lx. .hliy _Jr?. .. t:., till` :,?• .'4` a
'?I ? i
h
'IE+S''°??'L'?? .y4 ?V.Yr?Y1?i:3?'+?.-..?i^!.1?'..I': Sx
'. ? ??. ?' ..?t"f
'
1 ,`4-i..s aii.??v i:'? .-.S. Y'r: ?.:R .. i.f• .Sr1Li.i. tih FMX.i?i-5.. ?! i?`F?? A
,
,
_ . 3 r
7 ???r't Al ^
?stiLR r :,r';.'?:.?.. •;l s .... - ".P.'.,
7? ?•F=.,r; `??'.<'
w Ad
v T
?
)r,
??.J t 1 y,k lllc? Y?. s. i `<i??l'??i? ?
-?" ?IS?? ? ? 'i.•
«??4'. t..6.k.f?r?i. t.fM.....> .ru4". ....Ir... e'._ e.., .. 7?€? . ? .. •/• 3
,, ..., _.........