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RESOLUTION
No. 78 - 54
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A RESOLUTION PROVIDING 'f'OR THE REDEMPTION OF
CERTAIN OF THE OUTSTANDING UTILITY REVENUE
CERTIFICATES, SERIES OF 1969, OF THE CITY OF
CLEARWATER, FLORIDA? PROVIDING AN EFFECTIVE
DATE.
'M BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY Or
`-• CLEARWATER, FLORIDA:
~^ SECTION 1. It is hereby found, ascertained and determined
that :
A. The City has heretofore authorized $3,200,000 Utility
Revenue Certificates, Series of 1969 (the "1969 Bonds").
B. The City has, by ordinances enacted on February 23,
1978 (collectively the "Ordinance"), authorized the issuance of not
exceeding $28,000,000 Utility Revenue Bonds, Series 1978 and not
exceeding $24,000,000 Special Obligation Bonds, Series 1978A, a
portion of the proceeds of which will be used to refund the 1969
Bonds. The Ordinance provides for deposit of funds with Community
Bank of Pinellas, Seminole, Florida, as Escrow Holder (the "Escrow
Holder") under an Escrca Deposit Agreement, for such purpose, and
provides for the payment of the 1969 Bonds on their maturity dates
or on certain redemption dates to be herein specified.
SECTION 2. The 1969 Bonds maturing on and after August 1,
1986, are hereby irrevocably called for redemption, as a whole, prior
to maturity, as of August ',l', 1982, at the principal amount thereof,
together with accrued interest thereon to August 1, 1982, plus a
premium of four per centum (4%) of the par value thereof.
SECTION 3. The Notice of Redemption of the 1969 Bonds
herein called shall be in substantially the following form:
Res 0.." `A 78-54
4/26/78
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NOTICE OF REDEMPTION
CITY OF CLEARWATER, FLORIDA
UTILITY REVENUE CERTIFICATES, SERIES OF 1969
Dated August 1, 1969
NOTICE IS HEREBY GIVEti, for and on behalf of the city of
Clearwater, Florida that all of the outstanding Utility Revenue
4
Certificates, Series of 1969, dated August 1, 1969, of the City of
Clearwater, Florida, which mature on or after August 1, 1986, and
are redeemable on August 1, 1982, at the option of the City, as a
whole, at the principal amount thereof, together with interest
accrued thereon to the date fixed for redemption, plus a premium
of four per centum (4$) of the par value thereof, will be redeemed
on August 1, 1982.
Payment of the principal amount of such bonds, plus the
redemption premium, as stated above, will be made on or after such
redemption date, upon the presentation of such bonds, accompanied by
all coupons maturing after such redemption date, at The Chase Man-
hattan Bank, N. A., New York, New York. Registered bonds should be
accompanied by duly executed assignments or transfer powers in blank.
Interest on such bonds maturing on or prior to said redemption date
will be paid in the usual manner. Interest on such bonds will cease
to accrue from and after such redemption date.
DATED THIS day of , 1982
COMMUNITY BANK OF PINELLAS,
Seminole, Florida
I 78-S4
7 .?t a ?::,3.?1 !,?7; :;./•,. .e 3 ,'ice a'a
Ar,
Escrow Holder
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SECTION 4. The Escrow Holder is hereby irrevocably
,Fy•'"?'= instructed and directed, at least thirty (30) days prior to the
? ti `,•.i
redemption date, to call for redemption the 1969 Bonds maturing as
r;syi=Y? set forth in Section 2 of this resolution, by publishing at least
d',Rx,once in the name of the City the aforesaid Notice of Redemption in a
financial journal published in the Borough of Manhattan, City and
4yy 'A,.c: rL:
State of. New' York.
L-0 k
yy' `r`zfs/ KY:-?'• °f."x"' SECTION 5. The paying agent of the. 1969 Bands is hereby
aya,?t r?n,?n ±'i: {r'S?'yt'?,"1,S•.+i ?•vf:
authorized and directed (a) to pay, upon the surrender thereof, all
1969 Bonds which are not called for redemption, and coupons apper-
.
taining thereto, as they mature and become due, (b) to pay, upon
presentation of the coupons as they mature and become due, interest
S Er.•I., on the 1969 Bonds to and including the call date for prior redemp-
'tion, and (c) upon the prior redemption of the 1969 Bonds as herein-
above provided and the surrender thereof (with all, unmatured coupons
' attached), to pay the redeemed 1969 Bonds and thereafter to deliver
y'+ to the City all Bonds so paid for disposition.
SECTION 6. This resolution is adopted for the benefit of
• t of ?-, r
a? the holders of the City's authorized $28,000,000 Utility Revenue
Bonds, Series 1978 and $24,000,000 Special Obligation Bonds, Series
1978A, and shall constitute a contract between the City and such
holders.
SECTION 7. This resolution shall take effect immediately
upon its adoption.
:f s
PASSED AND ADOPTED this 26th _day of April, A. D, 1978.
Attcs
Gi Clerk
r Reso '•,#78"-S4:
-3..
L
Mayor-Commissioner
?, ?Z?;T'? ?j•?"ftG?.''4't 7 :.?.il ?t,?L ?)?s :?7a? . ,' _ . ... , f. .
ids•?j?€i?;k•?:5?`??'';E?f'tS'f,:' }.a:;' :ia'.''.." .. ? , . ..
j "t!
4/26/78