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R1ES0LUT10N
j' No. 78 - 37
to
f A RESOLUTION AUTHORIZING EXECUTION OF SECURITIES
------_?_.__ PURCHASE AGREEMENT FOR THE CITY'S 2007 TERM BONDS
;. SINKING FUND ACCOUNT RELATING TO THE CITY'S UTILITY
REVENUE BONDS, SERIES 1978
WHEREAS, the City Commission has heretofore author--
yri
ized the issuance of Utility Revenue Bonds, Series 1978 (the "Bonds")y
and whereas it is necessary to authorize the execution of a Securities
rr? S .
Purchase Agreement for the purchase of curtain Federal Securities
from funds to be retained in a 2007 Term Bonds Sinking Fund Account
for the Bonds; now, therefore.
BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF
CLEARWATER FLORIDA:
SECTION 1: The Agreement for the purchase of Federal
Securities in substantially the form.attached hereto, is hereby
E approved and the Mayor and City Clerk be and they are hereby author--
y j ized and directed to execute and deliver same, with such modifications.
` as they and the City Attorney shall approve at the time of the
s v
execution thereof, such approval to be evidenced by their execution
thereof.
• N SECTION 2: This resolution shall take effect immediately
r5.?
,,r ry upon its passage.
[r?'
ADOPTED THIS' 31 at , ... t}A7C OF March 1978
ayorr
City bf Cleaxwa r Florida
V,TTEST:
Ciiy: -C ear c7 U
',City of Clearwater, Florida
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0 C,
SECURITIES PURCHASE AGREEMENT
by
'i THIS AGREEMENT, dated these day of --j4Pgj,,._ , 1978,
("Agreement"), by snd between the City of Clearwater, Florida (the "City"), a political
>rY}:' subdivision of the State of Florida, and Community Bank of Pinellas (the "Bank"), a
}
banking association duly organized and existing under the laws of the State of Florida
and having its principal office in the City of Seminole, Florida.
WI TNES. SETS:
WHEREAS, the City, by Resolution adopted by its City Commission (the "Resolution"),
:}tik,s1 authorized the issuance of Utility Revenue Bonds, Series 1978' (the "Refunding Bonds");
and
IdHEREAS, the City has awarded and sold $24,790,000principal amount of the
Refunding Bonds, on terms set forth by resolution of the City relating thereto,
., dated
WHEREAS, the City, by resolution by the City Commission on March 31, 1978,
in accordance with the Resolution, authorized the deposit of certain sums derived .
from the revenues (as defined in the Resolution) into the 2007 Term Bonds Sinking.
Fund Account for the Refunding Bonds, such monies to be invested in direct obligations
of, or obligations guaranteed as to principal and interest by, the United States of
America ("Federal Securities"), the principal of which is to be applied to the
payment of all or -a portion'of the principal amount of Refunding Bonds maturing in
the year 2007; and
WHEREAS, the City is desirous of entering into a contract with the bank to
purchase the Federal Securities in•installments on the dates and at the prices as
set forth in Schedule A attached hereto; and
WHEREAS, the Bank is authorized to buy and sell Federal Securities; and
WHEREAS, the Bank is desirous of contracting to supply the Federal Securities
in installments on the dates and at the prices as set forth in Schedule A attached
hereto;
NOW, THEREFORE, for and in consideration of the sums set forth herein to be
paid by the City to the Bank on the delivery dates as hereinafter set forth, and
for other good and valuable considerations, it is hereby mutually agreed'`.as follows:
SECTION 1. PURCHASE AND SALE
SECTION 1.1. OBLIGATIONS
The Bank shall be obligated to sell and the City shall be obligated to
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6?:-?4,iit??i?np??r'i{ei'."?,?'r .... Pit,'. .t .??'.+yb???jv?'. ..'S.? .??,?, •s), ..'??. 'il.r. t' ,
• ,puichase ae al Securities upon the terms and subject to tiona set forth in
this Agreemen ....t the Bank and the City shall bb bound as set ?? h in this Agree-
went.
C- •?;F
r,-
tb
f-"j'•jj
t
SECTION 1,2. PURCHASE PRICE
The Purchase Price to be payable by the City to the. Bank for the
Federal Securities (the "Purchase Price") shall be! An amount equal to the principal
amount of the Federal'Securities purchased multiplied by the dollar price of 48.375.
In addition to the foregoing, the price to be paid by the City shall include accrued
interest on the Federal Securities from the last preceding interest payment date,to
the date of the purchases. Such price and accrued interest computations are set
forth on Schedule A hereto.
.F
SECTION 1.3. MARKET PURCHASES
The Bank shall not be required to own the Federal'Securities at the
time of execution of this Agreement, the Bank having given assurances to the City of
the Bank's ability to acquire the Federal Securities in the open market in sufficient
amounts to perform fully its obligations under this Agreement.
SECTION 2. DELIVERY AND PAYMENT
The Federal Securities, with all unmatured coupons, shall be delivered
by the Bank to the City (or its designated agent or custodian) for credit to the
2007 Term Bonds Sinking Fund Account for the Refunding Bonds in installments on the
dates ("Purchase Dates") and in the face amounts ("Purchase Amounts") shown on
Schedule A attached hereto. Each delivery of the Federal Securities shall be made
only against payment to the Bank of the full amount of the Purchase Price and
Accrued Interest for the Federal Securities then actually delivered, by official.
bank check in immediately available funds or in the manner as hereinafter provided.
The City shall maintain accounts with the Bank to which (a) funds necessary to meet
payment schedules as herein stated will be'deposited; (b) Federal Securities interest
receipts cited herein will be deposited; and (c) Federal Securities principal
amounts referred to herein will be deposited. The City shall authorize the Bank to
charge such accounts on the dates and in such amounts as are set forth on Schedule A
hereto. The Bank shall, on a timely basis, notify the Finance Director of the City
of entries to the referenced accounts. Delivery of the Federal Securities referred
to herein shall be in the form of the Bank's non-negotiable safekeeping receipt
issued for the benefit of the City. The Federal Securities themselves may be
physically held in any correspondent bank of the Bank, any Federal Reserve Bank, or
may be held in book entry form, as the Bank at its sole discretion may elect.
• SECTION 3. DEFAULTS IN DELIVERY OR PAYMENT
tiATTACAMNT Reeo.• 978-37'
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. a S£CTr7, .1. CITY DEFAULTS
?•}? If on any Purchase Date the City fails to tender full payment of the
?t
Purchase Price for any Federal Securities upon tender of the Federal Securities (in
(,rte , , •
the proper Purchase Amount) by the hank for delivery in accordance with this
Agreement:
(a) 'The hank may elect to complete the delivery to the City of
ll`t=t Y.?7.
' '~r '' 'i•s;' '` and accept payment for that portion of the Purchase Amount of Federal
Securities as is then purchasable by the portion of the Purchase Price, if
any, actually tendered by the City, or the Bank may elect not to complete
sz5e:;;'Lx delivery of such portion; provided, however, that If the City tenders full.
payment of the Purchase Price within 30 days from such Purchase Date, the
t''z'ts?:1ti?
Bank shall again tender for delivery to the City that portion of the Purchase
;fir '. t'i '••
Amount as to which delivery was not completed upon the initial tender;
(b) If the. City does not cure its payment default within the
30-day grace period provided in paragraph 3.1(a) above, the Bank may sell
to any other buyer the Federal Securities included in the Purchase Amount for
,;?r?;.? .?,,+°•' which the City shall have failed to tender payment or of which the Sank may
•?"fit
have elected not to complete delivery to the City pursuant to paragraph
3.1(a) and may hold the City liable for any and all losses incurred by the
Bank as a result of its sale of the Federal Securities for a price less than
the Purchase Price, and for all incidental and consequential damages incurred
4 '.,kk? °• by the Bank as a result of the City's default hereunder;
t (c) Regardless of any election made by the Bank pursuant to
. ? s
y +"` paragraph 3.1(a) above if the City fails to cure its payment default within
n
the 30-day grace period provided in such paragraph, the Bank may elect to
terminate this Agreement within 30 days following the expiration of the grace
period, without prejudice to any claim the Bank may have against the City by
( giving written notice to the City; and
(d) If the Bank does not elect to terminate this Agreement pursuant
to paragraph 3.1(c) above, the City shall satisfy any liability of the City to
the Bank arising under the foregoing paragraph 3.1(b) promptly, but in no
event later than ten days prior to the next succeeding Purchase bate, unless
the Bank and the City shall have agreed to an alternative procedure for
i satisfying and discharging such liability to the, Bank.
SECTION 3.2. BANK DEFAULTS '
,If the'Bank fails to tender for delivery to the City all the Federal
Securities to be included in tho Purchase Amount on any Purchase Date:
(a) The City may elect to accept delivery of and make
-3-
'' Ah?aahmen Reso. •#78--37
? ? w riy?, •4r~, f'y., fa;, ?a ii;ui,. • . ? ? •.
1'?.S?i?RI, •'?h r, ? 3r;z l:.?!f t. t.. a. , .?.. ?'_ _ _ ?' } -_
6
4
i
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,
„
r?aat.?r.??o+:..-s,,,».,?n?1•?+ro•:t ,.,?..$•?e.,?.?K•Y^•s+?'.i'?;. +?•"•..?rT•",eSji?-*a!??k.}•?k??4M!}i y??,35?1???,;?., ".""?
,"'7;s ?e ;F`?s'u?C?•t ? t'; ?. f : J . ,:M . , s?' • r:?.; 'a§y R; Y,;F 4!'"t; '.?° ' • ..e# ,.,;:'. e.•4s° •?; ?1'.", h9,
.. •••? ?"<,?s ei:". ? .'r . i.. ? f.1'.1.?'`??y??-"..: r:3; y"S?' '?}t'?f•?,??`'? } •
•? ?ir^•?-; i' i `,.??:?"^. r, ?. ''?T??'i7T "?L•«:'?,"?1'o'?4 `x .%ei'i :? ;'Si'".ia ????F??° ? •k I
••p'.., n• ?.::? ks?»i ri r ?'?r".,,5. ' `i' ? S..y ?`. ? 1• _?.. ^, ??? ?,? k1 ? = r• t C' ?.
uls ??' •.4: C', ?•.'r?r- t? %1?... ... ,i.... ?t `: s.. _. `e.s •. .. .. -.r,.:'.r de?•1_ ??-'..? :f1.?h trk>.?X?;.®C- r3a 3
v : f??rrtu;y.r:'.•'^'%.,i'1 ti'.rti..i,., _ . , Y,??y a
.:7 : i • 1. ?s 1', ?
Payment hat portion of the Purchase Amount of Feder urities as
may then be tendered by the Bank, or the City may elect not to accept
delivery of such portion;
(b) The City may purchase comparable Federal Securities in substitution
for the Federal Securities which the Bank shall have failed to tender for
delivery or in substitution for any Federal Securities which the City may
gar:
?1R'.t.•-
Mi? ..
have elected not to accept from,the Bank pursuant to the preceding paragraph
3.2(a) and may hold the Bank liable for all additional costs to the City in
such alternative funding of the 2007 Term Bond Sinking Fund Account and for'
all incidental and consequential damages incurred by the City as a result
N
of the Bank's default hereunder;
(c) Regardless of any election made by the City pursuant to paragraph
3.2(a) above, within 60 days after such failure by the Bank to tender any
of the Federal Securities for delivery to the City in accordance with•this
Agreement, the City may elect to terminate this agreement, without prejudice
to any claim the City may have against the Bank, by giving written notice to
the Bank; and
(d) If the City does not elect to terminate this Agreement pursuant
to paragraph 3.2(c) above, the City may offset any liability of the Bank to
the City arising under paragraph 3.2(b) above against the amount payable by
the City to the Bank on each successive Purchase Date until the City shall
have recouped the full amount of such liability, unless the City and the
Bank shall have agreed to an alternative procedure for satisfying and dis-
charging such liability to the City.
SECTION 4. OTHER DEFAULTS
SECTION 4.1. CITY DEFAULTS
If at any time before the termination of this Agreement:
(a) the City defaults in the performance of any obligation
under this Agreement,,other than in the payment of the full Purchase
Price for the Federal Securities delivered by the Bank on any Purchase
Date for which the remedies available to the Bank are stipulated in
Section 3.2 hereof, and such default is not cured by the City within
ten business days after notice from the Bank;
(b) any representation or warranty of,the City contained'in
this Agreement proves to have been incorrect, false or'misleading in
any material.respect as of the date on which it was made;
(c) the City fails'to pay any principal of or premium, if
any, or interest on any debt securities heretofore or hereafter issued
".;ti by; it and,payable from or secured b? a pledge of the Net Revenues (as
Y ,} Vrn
0
1.
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`._ .r• • ,y 1, a ,? ?.,. :??'...??i?....?•.?
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?#r33 ,,,,}}? ? ? "?y4 t .'.'}" s k.1G ;5: F , i'?.? r r,`".r..;,:d.,• ' .?•,y:.'. « •,4 ? e >_ S?iy;? 'jatl..A; G 5,4
.1t ad'' ;eL t ?'? r-.i .,15;.4. .? .t ?,; ".?;.' ; ; • _ '.41 !': r"?tr.. :. ?.rti`,?,, x?:: k1'.tb
? ly,?•,?n, ?,I::?r.1:? r15i%.Z ?L'.', ^ri?!:r: :`[a?.::' r?,j ?4 ,'i•:•,?i'_? .9y??. :i7'?'f.?,?ny:ti; •.?•!?.^i
? .a..Lin R.i,:s:duMnFfc:.Y??IS'LItK>- N'aia'.srkWirjWwiw?[Mr?ii9liR?q?wi?"+..?..?...+•
#f deft •;=';;" n Ordinance No. 1761) when the some comes du payable,
',.M whether at the stated maturity or by installment or by notice of
V
y,y redemption or otherwise, and such failure continues for 30 days;
(d) an order or decree of a court having jurisdiction is entered
with the consent or acquiescence of the City, appointing a receiver
or receivers of any substantial part of the assets or revenues of the
City or if such order or decree having been entered without the
consent or acquiescence of the City is not vacated, discharged or
stayed within 60 days after the entry thereof; or '
ai4' ?•r
r<s,.
(e) the City files a petition seeking a composition of indebtedness
under the federal bankruptcy laws, or any other applicable federal or
.,ra..
state law or statute, whether now in effect or enacted in the future, or
r r,.
the City admits in writing its inability to pay its debts generally as
they become due whether caused by a deficit in available cash, lack of
appropriations authority or otherwise;
rk'? then, upon the occurrence of any such events, the Bank by giving notice to the City
' may elect to terminate this Agreement and to hold the City liable for any and all
•?r' losses which the Bank may incur in selling the remaining Federal Securities held by
i?•" it for delivery under this Agreement, and for all incidental and consequential
VNNA damages incurred by the Bank as a result of such termination of this Agreement.
i; SECTION 4.2, BALK DEFAULTS
if at any time before the termination of this Agreement:
(a) the Bank defaults in the performance of any obligation under
1
01-
?t r ki this Agreement, other than in the delivery of the Securities to the
?s
City .n my Purchase Date for which the remedies available to the City
are stir.ulated in Section 3.2 hereof, and such default is not cured by
the Banc within ten business days after notice from the City;
(b) any representation or warranty of the Bank contained in this
p Agreement proves to have been incorrect, false or misleading in any
r material respect as of the date on which it was made;
M, (c) an order or decree by a court having jurisdiction is entered
adjudging the Bank a bankrupt or insolvent, or approving as properly
filed a petition seeking reorganization, arrangement, adjustment or
composition of or in respect of the Bank under the federal bankruptcy
laws or under any other applicable federal or state law (whether now
in effect or enacted in the future), or appointing a receiver, liquidator,
assignee,.trustee or other similar official of the Bank or of substantially
all 'of.i.ts assets, or ordering the winding up or liquidation of its
'.affairs, and such order of decree continues unstayed and in effect for a
'. Aft syclunent''Resa,,,•#78-37 --5-
f
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.. t•.' qz?. .,?rf.xr;r,???_; '•.;.Ff" ?; y ,f;''e+•,' s,`?,?•'; F ?i?3;?:+ ?:•--yy?1.?5°S5?. ?E.
Y t .?++y? ??. •{Y }•.i,:?'.{'i! ;ra .s ';?-?? .p .:r' i:` {, l: t' 2. c S?' r?,:<•.?.?'Y' . fr
4?s'R y •F f e k ; '.Xi '•z? .i.' .• "i.'.r•'•': i.w•.? .'= 1.•,,''. ,f .. x; f:*5• ..¢,?,,,_„ ?, f tt?? €?'.sF ?1.y,?t ?c?'?!:a .?9': rS 'i;d: a.,: 17',''•'\%•'C??.z. 'e.''• •'ir,:' :is, ?%jj•,. Xt?`•' ,..-. : rd?`?' e_, ,ytr','r?Lr`~e31.=.¢?. yd?`Mik°+&
R q. v°S:?e,,44 r<!r:,G; tx rh 7?. ,E+ _.??` •.?r ` ? ,,. , r_ 1'u'a.:..Saa?.i??+?? v.
M/3Yi?7?LL?K#ha?aSa? Mai glkwMl`r`?'•wi-=-- -
' F
r per f 60 cunsecuti,ve days; or
the Bank institutes proceedings to be ad udicated a bankrupt
??,lF`r • f n.
}.' or insolvent, consents to the institution of bankruptcy or insolvency
proceedings against it, files a petition or answer or consent seeking s
reorganization or relief under the federal bankruptcy laws or an other
applicable federal or state law, consents to the filing of any such sr
petition or to the appointment of a receiver, liquidator, assignee, ?ryj?yy ` r
?•:..
trustees; or other similar official of the Bank or of substantially all
of its assets, makes an assignment for the benefit of creditors, or M
admits in writing its inability to pay its debts generally as they come x
due; ,
then, upon the occurrence of any such events, the City by giving notice to the Bank
may elect to terminate this Agreement and to hold the Bank liable for all additional
costs to the City in the purchase of comparable Federal Securities to fund the 2007 `
Term Bonds Sinking Fund Account in the Bond Service Account, and for all incidental ,
Y5''e' •1•,e '
?iJ
and consequential damages incurred by the City as a result of such termination of q
i???C.. • ? ?°a"i ' btu:
this Agreement.
SECTION 5. REPRESENTATIONS AND WARRANTIES
SECTION 5,1. CITY REPRESENTATIONS
The City represents and warrants to the Bank that: f ;
1 S. '.err (a) in accordance with the terms of the Resolution, the City
' a Commission by resolution or resolutions duly adopted has (i) authorized s + ?
M and approved the transactions contemplated by this Agreement; (ii)
authorized the Mayor and City Clerk to execute this Agreement on behalf
of the-City; and (iii) committed the City to deposit into the 2007 Term
Bonds Sinking Fund Account in the Bond Service Account for the Utility
.,
Revenue Bonds, Series 1978, sums derived from the revenues of the,-
Utility System (as defined in the Resolution) in sufficient amounts to
3
enable the City to perform fully its obligations under this Agreement, rt
a y subject to the delivery of the Utility Revenue Bonds, Series 1978 and ?
•;i Special, Obligation Bonds, Series 1979A pursuant to Contract of Purchase j ,
r'
dated March 31, 1978; and
(b) this Agreement shall constitute a valid and binding Agreement
of the City to purchase the Federal Securities on the terms stated
herein, and the execution and delivery of this Agreement and the per-
formance of.the obligations of the City under this Agreement do not
and will not violate any provisions of the Constitution, laws or
regulations of the State of Florida, are not and will not be in conflict
with.any provisions of,any ordinance or resolution of the City and do
:? • .
` Y,' `r4F•A?' ac nt' Mesa. 9-37 -G- ..
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not ill not cause any default by the City under Cher
.r??4rr•tar ??? ?? i ?`
agreement to which the City is a party.,k'} SECTION 5.2. BANK REPRESENTATIONS
4pJ? rr .rL s- S°'.Y
i' r?: `,54"?r' ;_.• The Bank represents and warrants to the City that to the best of ; t
its knowledge this Agreement'conatitutes a valid and binding agreement on behalf of
?„S?•].,?,?<'`? the Sank and neither the execution and delivery of this Agreement nor the performance v;;?s•,
of the obligations of the Bank under this Agreement will violate any federal or state
law or any order, decree, license, permit or the like which is applicable to the Bank t
and will not cause any default by the Bank under any other agreement to which the,
Bank is a party. ;7 ?F
-•'?,,,?,?, ?, t.;? .?; ? SECTION 6. NO GENERAL INDEBTEDNESS OF THE CITY: FUNDS AVAILABLE TO
t ,
?r;az ?r r: ?k?-•:?::;' `'?
I A SATISFY CITY OBLIGATIONS
? ???:? ? R??'%? ?` ?:?• ?:'... The Cityfs obligations under this Agreement and any liability incurred
`
by the City with respect to any breach of any such obligations, shall not constitute
a general indebtedness of the City within the meaning of any constitutional, ?
+??,,6g-
statutory or charter provision or limitation, nor shall the Bank have the right to
require or compel the exercise of the ad valorem toxin power of the City for the ,
payment due hereunder. The City shall be obligated to make payments hereunder
solely from the funds on hand in the 2007 Term Bonds Sinking Fund Account established t
?,` G, r aY by Ordinance No. 1761 and the Resolution for the payment of the Term Bonds maturing ,
in the year 2007.
SECTION 7. BENEFIT: LIMITED LIABILITY OF BANK
The obligations of the Bank under this Agreement shall be for the
exclusive benefit of the City. Without limiting the general effect of the preceding
sentence, the Bank shall incur no liability to any holder of any of the Refunding
Bonds arising out of any transaction covered by this Agreement (including any breach
of its obligations hereunder by the Bank). Anything contained in this Agreement to
the contrary notwithstauding, the Bank shall incur no liability to the City as a
result of any transaction covered by this Agreement (including any breach of its
obligations hereunder by the Bank) causing or contributing to a binding determination
that the interest on the Refunding Bonds is includable in gross income of bond-
holders and therefore subject to taxation under the federal income tax laws and
regulations.
SECTION 8. SUCCESSORS
i
This Agreement will inure to the benefit of and will be binding upon
-the successors and assigns of the Bank. This Agreement will inure to the benefit
and will be binding upon the successors and assigns of the City. This Agreement
may not be assigned by the City or the Bank without the written consent of the other
.:party.. € !`
y' .•°' _ Attachement Reso. #78-37 " -7- ,
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' f:bS: ?;'7" r: C •,ta r•1+'i !f'.?+. ,? . r`: '?: •?<. -r',o a• ;4 57??
+ ?"F-•! ,'S i ? •:1j 1? P • -?.4,?.: .? • •k: •t'. "r '• •-;". t S•• 1 ' !-'ev S.'? "? ?• ,E ?t J.fe?Y?Y >!? -a ..
' sr..:,•?'L7??.'i7r.?,.C:+«A.:.71'+++?++is?ic?;ig+?4yG'?4?1?f?7Yi?.?,YL.'i?lar?9iAi«wiree:;.uUr:,..n?.w«.i..rt .«`».a..ir+:..:.: C' • 'a's-r.,.......:..:.,M....f.. K, ?"
SECT 9. SEVERABILITY
cif one or more provisions of this Agreement or the application of
any provision to any set of circumstances shall be determined to be invalid or in-
effective for any reason, such determination shall not affect the validity and
enforceability of the remaining provisions or the application of the same provision .
pr any of the remaining-provisions to other circumstances.
SECTION 10. NOTICES
Any notice or other communication to be given under this Agreement
may be given by mail, telegraphic or facsimile communication, or personal delivery,
unless otherwise specified in this Agreement:
(a) to the City at the following address: "
City Finance Director
City of Clearwater
P.O. Box 4748 "
Clearwater, Florida 33518
(b) to the Bank at the following address:
Investment Officer
Community Bank of Pinellas
7700 Seminole Boulevard (P.O. Box 3367)
Seminole, Florida 33542
Either the City or the Bank from time to time may specify another address for*such
party for the purposes of this Agreement by giving notice to the other party.
SECTION 11. COUNTERPARTS
This Agreement may be executed in one or more counterparts, each of
which shall be deemed to be an original, but all of which taken together shall
constitute one and the same instrument.
IN WITNESS!WHEREOF, the parties hereto have each caused this Agreement to be
executed by their duly authorized officers as of the date first above written.
Attest:
Countersigned:
0000
Mayor-Comm' sinner
A r d as to' ex co ectness: -t' A City o •ney
!
YI <1l
..'Aitaahment Raso. ' 78-37' .
?`dr .+y L•.?I?.??.4JI? •?•??'1?`..'_`?C?.,.( _111• 1 ? ? . :
COMMUNITY B F PINELLAS
By:
Mlenr P E; j'r17F?d7?
CITY OF CLEARWATER, FLORIDA
CITY COK.as630
By: Jh?l ?
llCity Manager
By : ?- - Gll ..?.? •-?-w
4111_ ? City Clerk
•r
' 11<
7 T
? x
' 'SCHEDULE A
F'EDEML SECURITIES
CLEARWATER SECURITIES PURCHASE AGRMEW
.' U.S. Treasury Bonds, 7-7/8% Due ll/IS/2007
Purchase Date Principal Amount
6/1/1978 $ 800;000.00 '
12/1/1978 210,000.00
6/1/1979 215,000.00
112/1/1979 225,000.00 '
6/1/1980 230,000.00
12/1/1980 245,000.00
6/1/1981 250,000.00
12/1/1981 260,OOD.00-
6/1/1982 265,000.00
12/1/1982 280,000.00
6/1/1983 290,000.00
' 12/1/1983 305,000.00
6/1/1984 310,000.00
12/1/1984 325,000.00
6/1/1985 340,000.00
12/1/1985 345,000.00
6/1/1986 365,000.00
12/1/1986 375,000.00
6/1/1987 390,000.00
12/l/1987 405,000.00
,6/1/1988 425,000.00
12/1/1988 435,000.00
6/1/1989 455,000.00
12/1/1989 475,000.00
.'' 6/1/1990 490,000.00
12/1/1990 510,000.00
6/1/1991 530,000.00
12/1/1991 550,000.00 '
• 6/1/1992 570,000.00
12/1/1992 590,000_00
•
`1.
$11,460,000.00
.qi.?t "e t,3?':'G.Y.,.;???t6?.ar..(.r.?_ '•ti?'1. 'i" aS.?, ?`?1 ?,'?; .. .
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d
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999 ,:'{ ?ttwd$+r''^...?.,.•^ ,i'le t?' ___-? - ___ ? ? - ._.. _., _, .. .?. ... ? ? .... ' .' ,. = .,,