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RESOLUTION , '}
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No. 77 - 124
A RESOLUTION PROVIDING FOR THE REDEMPTION OF
CERTAIN OF THE OUTSTANDING BRIDGE REVENUE AND
UTILITIES SERVICES-TAXES BONDS, DATED JUNE 1,
1974 OF THE CITY Or CLEARWATER, FLORIDA: PRO-
VIDING AN EFFECTIVE DATE.
BE IT RESOLVED BY-THE CITY COMMISSION Or THE CITY OF
CLEARWATER, FLORIDA.
SECTION 1. It is hereby found, ascertained and determined
tti, that:
A. The City has heretofore authorized $5,100,000
Bridge Revenue and Utilities Services Taxes Bonds dated June 1
1974 (the "1974 Bonds").
-v` B. The City has, by Ordinance No. 1701 and Ordinance
No. 1702, both enacted on September 15, 1977, as amended and supple-
"
"
mented (collectively, the
Ordinance
) authorized the issuance of
not exceeding $6,990,000 Utilities Tax and Bridge Revenue Bonds,
$? t
Series 1977, and not exceeding $2,700,000 Special Obligation Bonds,
Series 1977A, a portion of the proceeds of which will be used to
refund the 1974 Bonds. The Ordinance provides for the deposit
a:. of funds with The Exchange National Hank of Tampa, Tampa, Florida,
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•,? Agreement, for such purpose, and provides for the payment of the
+ 1574 Bonds on their respective maturity dates or on certain redeimp--
tion dates to be herein specified.
SECTION 2. The 1974 Bonds maturing on and after December
s 1, 1986, are hereby irrevocably called for redemption, as a whole,
Are ti
prior to maturity as of December 1, 1984 (the "Call Date"), at the
principal amount thereof, together with accrued interest thereon
to the Call Date, plus a premium of three per centum (3%) of the
par value thereof.
SECTION 3. -The Notice of Redemption of the 1974 Bonds
herein called shall be in substantially the following form:
Reno. X77-124
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6-11 XOMM,
7 77
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NoV; 23.1977
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NOTICE OF REDEMPTION
CITY OF CLEARWATER, FLORIDA
BRIDGE REVENUE AND UTILITIES SERVICES TAXES BONDS
Dated June 1, 1974
ur,' NOTICE IS HEREBY GIVEN, for and on behalf of the City of
Clearwater, Florida, that all of the outstanding Bridge Revenue
ew?
and Utilities Services Taxes Bonds dated June 1, 1974, of the City
y, 4 1
of Clearwater, Florida, which mature on or after December 1 , 1986,
Z t7;.
`j and are redeemable on December 1, 1984, at the option of the City,
in whole, or in part, but in inverse order of maturities and by lot
+); within maturities if less than a full maturity, at the, price of pax'
I}k?4
ads and accrued interest to the date of prior redemption, plus a
remium of threw per centum (3$) of the
p p par value thereof if
?p •Y
redeemed on December 1, 1984, will be redeemed on December 1, 1984.
k? Payment of the principal amount of such bonds, plus the
redemption premium, as stated above, will be made on or after such
f redemption date, upon the presentation of such bonds, accompanied
4a ,
by all coupons maturing after such redemption date, at (Name of
.?, the paying agent for the 1974 Bonds). Registered bonds should be
} accompanied by duly executed assignments or transfer powers in blank.
Interest on such bonds which are called for redemption maturing on
or prior to said redemption date will be
paid in the usual manner.
Interest on such bonds which are called for redemption will cease
to accrue from and after such redemption date.
DATED this day of , 1984.
THE EXCHANGE NATIONAL BANK OF TAMPA
Tampa, Florida
Escrow Holder
_? •' Reso., #77-124
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• ? ..' ,• ,?; . _; <. • .. ?,' _ ° ti %:.??. `rah'-?':?„ •?. .: ?• 1
??..44?? .zk rii"'r.; ``,';`y "'r Yr'"j .. ^','w?' t:.: ?-, ?`p `?••??•?:#*,yy.??FykS,? ?°r ????,?'r+.gl?;?'f3?•.,f a?R?°?"''s
.i8?:'s.?.sG:S't•... _ ??????_. .., ?? L ?_..9'r?'r?.,7.t .. G_`?'??;?11?'.d??fSaY'A:2SiUL?:.wrl.s.•X•k:??'?t?•:.':i
?!ri y}^?P'.__•... fir'.. '?%r
SECTION 4. The Escrow Holder is hereby irrevocably
instructed and directed not less-than thirty (30) days prior to
the Call' Date:
A. To call for redemption the 1974 Bonds maturing?on
or after December 1, 1986, by publishing at least once in the name
of the City the aforesaid Notice of Redemption in a,newspaper or
financial journal published in the city and State of New York.
B. To file the aforesaid Notice of Redemption with the
paying agents for the 1974 Bonds.
SECTION 5. The paying agents of the 1974 Bonds are hereby
authorized and directed (a) to pay, upon the surrender thereof, all
1974 Bonds maturing prior to December 1, 1986, and all coupons
appurtenant thereto as they mature and become due,,and (b) to pay,
on all 1974 Bonds maturing on December 1, 1986 and thereafter,
interest, as such becomes due, on said bonds up to and including
the Call Date upon surrender of the appropriate matured coupons
and (c) to pay, on or after the Call Date, upon the surrender
thereof accompanied by all coupons maturing on December 1, 1984
and thereafter, the 1974 Bonds maturing on December 1, 1986 and
thereafter and the premium thereon as hereinabove provided, and
(d) to deliver to the City for disposition all 1974 Bonds so paid.
SECTION 6. This resolution is adopted for the benefit of
the holders of the City's authorized $6,990,000 Utilities Tax and
Bridge Revenue Bonds, Series 1977 and $2,700,000 Special Obligation
Bonds, Series 1977A, and shall constitute a contract between the
City and such holders.
SECTION 7. This resolution shall take effect immediately
upon its adoption.
PASSED AND, ADOPTED this 23rd day of November, A. D. 1977.
Atteat-
C1 Clerk ,• .
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10 -23• ;1977
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