10/18/1943
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l~71
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city of Clearwater Floridc
commission Minutes
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The city COmnQssion of the city of Cleanvater Florida met in regular session
the eVening of uct 18, 1943 in the city Hall ut 8 o'olock P. M. with the following
members present:
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Geo. R. Seuvy,
Jesse G. smith
Sum.ner R. Lowe
Herbert Ql'ioe
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Mayor- Gonmissioner
COlaI11isl:)ioner
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Absent: Dan stoutamire
The meeting was oalled to order by MapDr seuvy und the minutes of the
previous meeting were read and approved.
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Mr. J08. L. Mart1nc.uppeared berore the Board relative to the esta.blishme;nt
by the 01 ty. of a taxi-cab rate sohedule, aocording to zones. '.
mh~oCit:Yi!.l~naBer and the Oi ty Attorney were appointed to meet wi th Mr . "t
M~rtin,and work out an acceptable rute schedule.
lierbertBlanton appeared before the Board and a.sked for a redduption ot
amount to settle taxes on lots owned by him on und near the interseotion of TUrner'
street and r~rtle Avenue. Mr. IIendrix, and Coonlissioners Lowe and Grice were
appointed to look into the matter.
At the sugLestion of Mayor seavy no uction wus taken on a suggested White
cune Ordinance.
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Moved by Mr. Lowe seconded by Mr. Grice and carried that Ordinances Nos
496 and ~91 be passed on their second and third readings..
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city Manaeer Hendrix now read the refunding agreement RKXBK with Shields
and COml)al1Y dated Oct 13, 1943. Moved by Mr. Su11 th seconded by Air. Grioe and
carried that the agrreement be approved.
The city Attorney now read a Resolution whereby the city purposed to
match funds with the Merchants Associution in a rat eradioation program.
Moved by Mr. Lowe seoonded by Mr. Grice und ourried.
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There being no further buuiness to oome before the Board the Meeting
was ~djourned.
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Mayor-commissioner'
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ORDINANCE NO. 496
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Au ORDINANCE DEFINING AND PROHIBITING
PROSTITD'TION IN THE CITY OF OLEARWATER,
AND PROVIDING PENALTIES FOR T.HE VIOLATION
THEREOF.
BE IT ORDAINED BY THE CITY COMMISSION OF THE OITY OF CLEARWA TER~
FLORIDA:
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1. For the purposes of this ordinanoe. anr aot of unlawful
sexual intercourse shall be considered as prostitution.
2. It ahall be unlawfUl for any person to oommit anr act or
prostitution, in the City of Clearwater.
3. An~ person who takes another to a place where prostitutes
can be found. or gives out or offers to give ~t any information as to a
place or places where prostitutes may be found. snall be guiltr of aiding
and abetting others in the commission of prostitution.
4. It shall be unlawful for any owner. lessee, or other person
having charge of anY:,'property in the Oity of C1earwatet- 1moW'ing1~ to
permit any act of prostitution to be committed on said p~opertr. Proof
that, any propert~ has been used for the purpose of prost1tution for a
pe~icd of sixtY' days or longer shall be prima facie proof of the fact
that such use was with the knowledge of the owner, 1essea, or other person
having charge of property.
5. Any building or other property that is faund to have been
used for the purpose of prostitution w~th the knowledge of the owner.
lessee, or other person having charge of suoh property may be closed and
pad looked br order of the Municipal Judge ~or a periOd not exceeding six
months; and it shall be unlawful for any person to enter such building
or other propert~ while it is so closed. and padlocked.
6. If any taxi driver 1s found guiltr of v~olating an~ of the
provisions of this ordinance, the permit of such person to drive a taxi
in the City of Clearwater may be suspended for any period, or permanent11
reVOke, by order of the Municipal Judge.
7. In addition to all other penalties prescribed herein. any
person who violates any of the provisions of this ord~nance Shall, upon
conviction thereof in the Municipal Court, be punished by a fine not
exceeding two hundred dollars, or by imprisonment in the city jail for
a periOd not exceeding sixty days. or by both such fine and imprisonment.
orusibneb 8. This ordinance shall take effeot immediately upon its
passage and adoption by the City Commission of the Citr of Olearwater.
9. All ordinanoes or parts of ordinanoes in oonflict nere-
wltn are hereby repealed
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Passed first reading October 4, 1943 '.. ,,:, .
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Passed on seoond reading Ootober 18, 1943
Pa.ssed on tb.ird reading Ootober 18, 1943
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Attest:
Frank Coole~
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ORDINANCE NO. 497
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AN ORDINANCE REQUIRING TAXI DRIVERS TO
OBTAIN PERMI~ FROM THE CHIEF OF POLICE,
ANP 1R~VIDING PENALTIES FOR THE VIOLATION
THEREOF.
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BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF CLEARWATER,
FLORIDA:
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1. ~o person snall drive a taxioab in the City or Olear-
water without f1rst obtaining fro~ the Chief of Polioe a permit to engage
in the ooo~pation of taxioab driving. Any person of good ~epute whose
right to drive a tax10ab has not been suspended or revoked by the Mun-
icipal Court and w~o possesses a driver's lioense issued b~ tne 8tate
of Florida shall be granted a perMit on applioation thereor.
2. Every tax10ab driver shall have his or her pe~it in his
or her possession at all times while driving a taxioab.
S. Any pereon who violates any o~ the provisions ot this
ordinanoe shall. upon conviotion thereof in the MUnioipal Caurt. be pun~
lshed by a tine not exoeeding fifty dollars, or by imprisonment in the
o~ty jail tor a period not exoeeding five day., or by both such fine
mad imprisonment.
4. This ordinanoe shal1 take effeot immediately upon ita
passage and adoption by the Citr Commission of the C1tr of Clearwater.
5. All ordinances or pa~ts of ordinanoes' in oonfliot he~e-
by :repealed.
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Passed on first reading
Passed on seoond reading
PaBsed on seeond reading
Ootobe~ 4, 1943
Octobe~ 18, 1943
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Ootobe~ 18, 19~3
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A.ttest:
Frank Cooley
01~r J[udr~or and {J~erk ,.
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AGRERMF.NT
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WHEREAS the city of Clearwater, Flo~ida, hereinafter referred
to as the City, has butstanding approximately $4,445,652 Refunding Bonds
issued July 1st. i936, all dated July 1st, 1936, Maturing July 1st. 1986,
and bearing interest at 2 1/2% to 5% per annum. and
WHEREAS it is the desire of the City to retund said bonds in
order to obtain more favorable interest rates; and
WHEREAS Sh1elds & Company of 44 Wall Street, New Y~k Citr,
hereinafter referred to as Shields, has submitted (in behalf of itself
and assooiates) a plan for the retunding of the said oatstanding bonds,
and the City desires to prooeed with the refunding in aooordanoe with :.'
said plan:
NOW, THEREFORE, it is hereby agreed by and between parties
hereto as follows:
1.
The City Commission shall adopt suoh resolutions and other
prooeedings as may be neoessary to authorize the issuanoe of new refund-
ing bonds in the amounts, bearing interest at the rates, and having the
maturities and redemption provisions as set forth on page 2 ot Sohedule
B, aooord1ng to said plan submitted by Shields.
2
Shields snall aot as exohange agent for the City and use its
best efforts to effect e~changes of new refunding bonds tor the out-
standing bonds to be refUnded, it being understood that Shields 1s to
the be exchange agent of the City ib effeoting such exohanges.
3
Shields shall assume and pay all legitimate expenses in con-
ooneotion with the authorization, valida.tion, issuance and wxohange
of the new refunding bonds, including the fees and expenses ot the
City Attorney in oonneotion 'with the Validation, the fees and expenses
ot a nationally reoognized firm of bond attorneys to be retained by
Shields. all tleoessary traveling expenses of City Officials on trips
approved by Sbie1ds, the preparation of the blank bonds read~ ~or
e~eo~tion. char~es for publishing all neoessary legal notioes, and the
charges of banks or trust companies in effecting exohanges.
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ShieldS shall have the privilege or purohasing any of the out-
standing bonds to be refunded and of e~ohanging the bonds so purohased
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from time to time for new fefunding bonds a.nd ot selling such new refund-
ing bonds to investors.
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The new refunding bonds are to be exohanged for the outstand-
ing bonds on a par for par basis with neoessary adjustments of accrued
interest, suoh e20hanges to be made at a bank or trust company designated
br, ShieldS, and the fees and expenses ot such bank or trust coapany in
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, .;'oonne,otlon with SUCD exohange are to be pa1d by Shields.
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Tne City shall take suoh action as may be neces8ary to male the
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bonds available for. exohange, at the ea~llest praotioable date, and shall
coqporate witnSnlelds In effeoting e~onange8 and furnishing suoh stat-
is~loal data as may be requested.
7.
Shields shal~ reoelve no oompensation from the City for its
Be~vices as saoh exohange agent, but shall reoeive its ~ll oompensat-
ion from suoh fees as it may oharge bondholders making exchanges, and
suob profits as, it may be able to make thDough the purohase of ontstand-
ing bonds and ~ selling the new refunding bonds in exohange therefore
as provided in paragraph 4 ab~ve.
8.
In oase there shall be any change in the status of tne new
refunding bonds with respeot to their exemption from federal lnoome
ta~e8, then this contraot shall no longer be binding upon either party,
~t shall t~e~eupon be ~bjeot to renegotiation as to interest rates and
other detaIls.
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9.
It at any time Shields shall request the Cit~ to offer at
pQblio sale the new refunding bonds, or all or any paru or the unezchanged
refunding bonds. the City shall promptly carry aut suoh request and take
~ch necesaar~ prooeedings as the bond counsel retained by Shields may
require. If Snields shall make such request, ~t shall bid at least 102
and aocured inte~est for the bonds so advertised fo~ sale, and in consider-
ation ot such promise and ot all the seryicesperformed mod to be performed
b~ Snields under the provisions of this contract, Shields shall receive
frcm the City a tee of 2% of the principal amount of the bonds so sold.
'upan making suoh request, ,Shields shall deposit with the City a certified
check amounuing to 2% of the face value of the bonds to be offered for
sale, whioh cheok shall be retained by the Oity as fall liquidated damages
in oase Shields fails to, bid for the bonds as above set ~ortn. It ShieldS
does make such bid for the bonds, the check 1s to be returned to it if
it snall not be the suocessful bidder; but if it shall be the sudcessful
bidder; but if it shall be the sucoessfal bidder, the cneek shall be applied
as part 'pa~ent for the bondS, or ~etained b~ the City as ~ll liquidated
damages. !f at any tIme the City shall ofre~ all or anT pa~t of the new
~efund1ng bonds at publio sale without being requested so to do by Shields.
and if at sach public sale ShieldS shall bid at least. lOa and accttUed in-
terest for tne bonds so offered, the City shall pay ShieldS a tee of ~~
of the principal amount of the bonds, sold at suoh public sase, suoh fee to
be in full payment ot the servioes theretofore perto~med by ShieldS in con-
w1hh the ~efunding plan.
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10.
Shields shall use its best efforts to effeot the refunding
of tne outstanding indebtedness of the Oity in acoo~dance with tae
refunding plan hereinabove referred to, and will undertake all acts
waien it may lawfully perform in this connection; ~t such aotion on
the part ot Shields shall in no manner oonstitute the managing OP
oontrolling of the offioial tunction~ of the City Commission in
refunding said indebtedness or in the issuanoe or the new refunding
bonds, it being expressly understood that tbe Oity Oommission reserves
the right ~lly to exercise its official disoretion and to perto~
ita otfioial auties in all matters pertaining to the the authorizat-
ion and the issuanoe of tne new refunding bonds, or otner duties in
connootion with suoh bonds.
11.
In order to insure the prompt completion of the refunding
plan, Ihields hereby guarantees:
(a) That the validation of the new refunding bonds w~ll be
completed not later than January 1st., 1944.
(b) -That present bonds in tne face amount of not les8 tnan
$1,500.000 shall be exchanged for new re~nding bonds
an or before January 1st, 1945; and
(c) That all of the present bonds, amounting to approxinate-
ly 04,445,652 in face value, shall be excnanged for
new refunding bonds not later than January 1st, 194&.
12.
Shields shall deposit with the Oity ita oertified o~oek for
the sum of $10,000 as a guarantee or performance of its obligations
under this contract. In the event that Shields defaults in t~e
perfornance of any ot the requirements enumerated in the preceding
paragrapn or tnis oontract, then and thereupon the sald sum of .10,000
shall be and become forfeited to the City and shall be retained by
the c~ty as full liquidated damages; and in addition to receiving and
retaining said ~m of $10,000, the City shall nave the right to renounce
its oontract and it shall thereafter ha.e no b1nding effect,ion the otty.
13.
ShieldS represents that the issue of bonds as set forth on
page 2 ot Schedule B. as referred to in paragraph 1 or tnis agreement,
will mean a net interest cost ot 3.290 to the City. ~n the event that
nathematlcal calulations do not sustain this representation, then
ShieldS agrees to revise said schedule in order to make the actual
net interest cost to the City 3.290 or less.
IN WITNESS WHEREOF, the City of Clea~ater has caused its
name to be hereunto subsoribled by the City Manager or said City,
cont1r~ed by the Hayor-Commission or said Cit~, attested b~ the Oity
Audltor $nd Olerk, and its oorporate seal to be thereunto attached;
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and Shields & Oompany haacaused this agreement to be executed by
this 13th. day ot October. A. D. 1943.
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CITY OF OLEARWATER, FLORIDA
BY'
F. L. Hendrioks
Cllt1 Manager
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George R. Seavy
Ma10r-Comm1s810ner
Attest:
Frank Cooley
01t1 Aud~tor and O~eik
SHIELDS & CO.
Signed,
livered
sealed and de-
in presenoe of"~
BY
Marshall Dancy
rox- tnemse~ves
and assooiates
w. G. Wingo
Franoes Breeden
Approved as to fOrm and oorreotness;
Ralph R10hards
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RESOLUTION
WHEREAS the Merchants Assooiation ot the City of
Clearwater has instituted a rat eradioation program and has
requested f1nanoia~ aid from the City, and
WHEREAS said rat eradication program is recognized and
fully appreciated as being necessary for the proteotion of the
health of the citizens of Clearwater;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION
OF THE CITY OF CLEARWATER, FLORIDA, that for every dollar collect-
ed by the Merchants Association and turned over to the City to be used
for rat eradication purposes, the City shall contribute a do~lar from
its general funds for the same purpose.
This resolution passed and adopted by the City Commission
of the City of Clea~ater this 4th. day of October, A. D. 1943.
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Geor;e R., SeaV7
Mayor- ommlss10nor
Attest:
Fl.e.nk K. Cooley
City Audlt~raand Olerk
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Ci �y oi' Clearwater F1ori da rD ��
Comrnission Miiiutes
The City �ornraission oi' i;he Ci�Ly of Clearv�at
�he evenin�; oi Uct l� 1 er I'lor�,da raet iri regular session °
, 94�3 in the �xty �,a,l �� g o�clock p, hTo with the following
-. ,; merabers present;:
,:� ^
�' Geo. R. Seavy Mayor- Co i M
� mm ssloner
fesse G. Smith Coramissioner
Sumner R. Lowe »
Herbert �; ce ,�
Absent; Dan gtoutamire
The mee�ting was cal]_ed to order by Ti[a�ror Seavy and "tYie minutes of the
previous me�ti�g were r,ead and approved.
I�Zr• J'os. I,. It�i�rtir��;appeared before the Board relative to the establisYunent
hy 'the City oi a ta;ci-cab xa-�e sche3ule:, according to zones. ,
1�h���i;�y<:Tvl�na�er and the city ��ttorney were ap�ointed to meet with I�Zr ,' ,�
r.2artin,and rvork out an acceptable xate schedule:
Herbert Blant�n appeared Ueiora the Boarcl �nd asked for a xEdd��tion oY'
cimount t� settle taxe� on lots owned by him on and near the intereection qf Turner
Street and PaTyrtle Xvenue. l�ir, Hendrix, and Commissioners I,.o�ve and Grice were
appointed to look into �he matter.
At the su�;�;estion of 1�Iayor Seauy no ac�ion was taken on a su��ested �^lhite
�ane 9rdinance,
I:4ovec� by Tvir. I,c�rve seconded '�y I4Ir. Grice and carrisd that Ordinances N�s
496 and t�gT be passed on. their se.ond and third r��dings>.
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City I�Zana�er Hendrix now road tt�e refundin�; agreernent ��r� vrith ,Shields
and �ompan,y aa��.�a act 13, 191�3. bToved by �qr. S:ni.tY� second�d b;� u�lr. Grice and
carried that the a�rreement Le approved.
T�e City gttorney novr read a Resolution whereLy the City purposed to
matc;h funds with the I�Idrehants gssociatian in a rat eradic�tion gro�ram,
�,Zovea by Mr, I,o�ve aeconded 'uy Mr. Grice r�nd carried. -
Tl�ere being no further business �o cam� be�ore the Bo&rd the IvIeeting
was 4djourtied.
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I 1�Tayor- Car.ini s si oner•
Gity udi�orr& C erk.
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ORDINANCE N0. 496
Aii ORDINANCE AE�'INIriG AND PROIiIBI:1'ING
P�OSTITUTION IN THE CITY OF GLEARWATEg�
AND PROVIDING PENALTIF.� FOR T� VIOLAT.ION
'!'HEREON''.
BE IT 0$DAINED BY THE CITY �OMMISSION QF Ti� CI�Y OF CLEAftWATER,
FLOhIDA;
1,. For the purposes og this ordinance, any ae� oP unzawful
aexual intercourse ahall be conaiaerad as prostitutionv
R?. St shall be un.l�.�rful �or any person to comm3i any act af
prost3tution, in the f91ty oP Cl,ear�vater.
3• Any peraon who takea another to a place whsre prosti',;utes
can be found, or gives out or offers to give ouc any information as to e
place or• p].aces where praatitutes mag� be found, aha11 be guil�y of aiding
and abetting others in the enmmission of prostitution.
y 4. Zt shall be unlawi'ul for any awner, lessee, or other person
having charge of any properi;s in the C3ty of' Clearwater lmo�inglg to
permit any act of prostitution to be committed on aaid propertya Proof
that any property hsa been used for the purpose af �rostibution for a
period of sixty days or longer �shall be prim.a facie prooP of the fact
thet such use vras with the lrnowledge of the ovrner, lessee, or other person
having charg�� of property.
5. Any building �r bther property that is found to have been
used for the purpose of prostitut�on with the lmowledge of the owner� '
lAssee, or other p�rson �aving charge of such property may be closed and
padlocked by order of the Municipal cTudge �Bor � period not exceeding six
months; and it shall be *znlawiul far any person to enter such building
or other property while it is so cZosedmand padlocked.
6• I� �ny taxi driver is found guilty of violating any of the
provis3ons oi' this ordinance, the permit of such peraon to drive a taxi
in the City of Clearwater may be suspanded for any period, or perm�.nently
revoke, by order a� the Municipal Judge.
7, In addition to all o�her penalties �rescribed herein, any
person who violates any of the provisions of this ordinance sha].l, upon
conviction thereof in the Muni.cipal Court, be punished by a fine not
exceeding two hundred dollars, ar by iarprisonment in the city jail i'or
a period not exceeding s3.xty days, or by both such fine and im��isonmant.
orusibnab 8, T�is ord3nance shall take effect immediately upon its
passage �nd adopt3on by the City Commission o£ the City of Cl�iarwater.
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9. All ordinances or parts oi ordinances in conflict here-
witk� are hereby repealc�d
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Atteste
Frank Cooley
Passed un fir�� read�ng October 4, 3.943
Passed on second read3ng October i8, 1943
Passed on third reading 0etober 18, 1943
C�eor e R. Seav'
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ORDINANCE I10. 497
AN ORDINANCE REQIIIRT�TG TAXI DRIii�� �p
OBTAYN PERMITS FROIJI THE CHIEF OF �'OLICE,
��� ��mVIDING PENALTTES FOR Ti� VIOLATION
,. THER�OF.
BE IT OP.'�AINEl? BY THE GITy COPdMISSION OF 'I'HE Cl2TY OF CLEARVlATER,
FLO�tIDA•
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1. No person shall drive a taxicab in the City of Clear- �
water without firat obtaining i'roar •bhe (3hief' of Po11ce a permit to engage
in the occupation oi` taxicab drivin�. Any person of good repute whos9
right to drive a taxicab hae not been suapended or revoked by the Muri-
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icipal Court and who possessea a driver�s lioense iasued by the �tate
of Florida sha11 be �ranted a permit on application thereof.
2. Every taxicab dri�ver shall have his or her permit in his
or har possession at all times wr�iie driving a taxicab,
3. Aixy person who vialates an� of the pro�risions oP this
ordinence shall, upon aonviction thereo#' in the Municipai. Gourt, be pun=
ished t�y a fine not exCeeding fiPty dolZa�s, or by imprisorment in the
cit� jail for a period not excaedin� i'ive day�, e�. b� ��th such �'ine
arxd imprisonment.
4. This ordinance shall take effect immedistelg u�on its
passage and ado}�tion by the Citv Commiesion of t'he City oP Cle�rcrater.
5. All ordinances or p�rt� oP ordinances in confliet hers-
by repea�.ed.
Paased on f3rst readiug October 4, 1943
Posssd on second reading October 18, T943
Paaaed on seeond rer�ding October 18, 1943
Geor e R. Seav,y
�ayor- omm as aner
Attest: ,
Frank CoolaY
C 1;�y"'Aud3tor and C�er�c"'—'"
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• A(3REEMENT
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��II3EREAS the City of Clearwater, r^larida, hereinaPter Tefvrred
�! • to as the City, has butstanding approximately �4,445,652 8e�nd�.ng Bonds
issued Ju1y 1st. 1936, s11 dated Jv.l� 1st� 1936, maturing July �at. 1956,
and bearing interesb at 2 1�2� �0 5� per annum; and
- WHEREAS it ia the desire of the City td ref't!nd aaid bonda in
arder ta obtain mare favorable interest rates; and
W7�REAS Shields & Compang of 44 Wa11 �treet, New Yo�k City,
� hereinai'ter referred to as Shielda, ha� submitted (in behalf oi' itse�.f
and associates) a pla� for the reilinding of the said outstanding bon�s,
and the City dasires to prooeed �vith tha rePunding in accordanee with �
ssid plan:
- NOVr, THEREFORE, �.t ie hereby agreed by and bet�reen parties
hereta �.s fbllowes
l.
The Citg Gommission shall adopt such resolutions and oth�r
proceedings as may b� x�ecessary to authorize the issu�.nee o� new refund-
ing bonda in the amounts� bearing iriterest at the ratss, and having the
maturities and redeinption provisions as set forth on page 2 of Schedule
13, according to said plan submitted by Shields.
• 2 ,
` _ Shields shaZl act as exchange agent for the Cit� and use its
best sfforts tn effect exchanges of new refuttding bonds for the out-
standin� bonds to be refiznded9 it being vndorstood that Shields is to
the be axchange agent o� th� Gity ia effecting such exchan�es.
' 3
Shields shall assume and pay a11 �egitimate expenses in con-
conaetion with the authori..ation, velidation, issuance and �xchange
of the new refunding bonds, including the fees and expense� of the
City At;�orney in connection ��vi.th the Va].idatian, the feas and expen�es
of a nationally recogn.ized, firm of bond attorneys to Tbe rbtain9d by
Shields, all "rlecessaryr traveling expenses of City Offic3als on trips
apprnvod by Sia3elds, the praparation of the blank b�nda read�r for
execti�ion, chargea -for puiolishing aIl necessarg legal notices, and tho
en�r�es oi' bank3 or trust comp$nies in efi'scting eachanges.
4 �
_ Shields sha11 have the privile�e og purchasing any of the out-
standing bonde to be refunded and of egchanging the bonds so purchased
from time to time far now tef`unding bonds and oP selling suah nevr reiiin�,-
ing bonds to investors.
5
- The new reflznding bonde are to be oxchanged for �he outgtand- '
ing bonds on a par for par basiA with necessary adjustments of acex�tted
interest, suoh exchanges to be made at a bank or trust company designat9d
by 5t�i�lds, and the fees and expensss of such banlc or tx�ust company in
connection w3th suoh exchanga are to be paid l�y �hieZds.
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�' The Ci�y s�all taka suoh action as m:ay be necessary to matte the
taonds available for.exchange.at the earliest praoticable date, and shal.l
ca4perat.e with S1�ie].da 3n, effecting exohangea and iurnish3ng'such stat-
iatical data as may be requested. . .
7.
Shi9lds shal�. receive no oompensatio�x,from the City for ita
eervices as such exchange agent, lnzt �ha11 raceive its iixll compensat-
ion fram such fees as it may charge bonqholders making exch�nges, and
such prafits as.it may be able to make th�ough the purchese of outstand-
ing bonda and in selling the ne� rafunding bonds in eaahange therefore
as provided in paragraph 4 abc�uee
S.
In casa there sha11 be any ohange in the status of the aew
.reflusding bonda rvith respect to the�!r exemption from federal income
taxes, then t�.is Qontrant shall no longer be binding upon either party'
b�t sha2l thereupon ra subjeet to renegotiation as to interest 2�stes and
other details.
9.
If at any-tims �hields shall request the Citp t!? ogfer at
public sale the new refunding bonds, car all or sn� part of tk�s unexehanged
rafunding bonds, the City sh�;:�.s promptZy carry out such reques•t and take
such necessary proceedi�ngs as the bond counsel retained by Shields may
require. If Shields shall make suctx.requesty it shai.]. bid at least 102
and accured interest for the bonds so advertised for sale, and 1n conaidsr-
ation of such promise and of all the seriricesporformed snd to be pert'armed
by Shields under the provisions of :th�s contract, Shields sha11 reco3ve
from the City a fee of 2� of iche principal amaunt of the bonds so sold.
npon mak3.n� sueh request, Shields shaJ.l depo�it with the City a certified
check amounting to 2� of the face valus of the bonds to be offered for
sale, which check shal�.be retained by the City as i1i,11 liquidated damages
in case Shi.elds �ails.to bid Por tha bonda as above set forth. If Shie�ds
does make :iuch bid for the bonds, the check is to be returned to it if
it ahall not be the sv.ceessilxl biddez ; but ii' it shall be the su�cessfu:l
bidder; but if it ahall be the suceessi`u,7. bidder, the check shall be applied
aa part payment for the bonds, or retaine�i bg th9 City as fu11 liqu3dated
damages. If at any time the City shall of%er a11 or any part of the nerv
refunding bonds at public sale without being requeste�l so ta do 3y Shields,
and �..f. at suoh public sale Shi.e`lds shall bid at least;102 an3 accknzed in-
f:ersat for the bonda so affered, the C3ty shall pay Shield� a fee of ��
oP the principal amouat oP the bonrls aold at sueh �ublie sa�e, suek� fee to
�a in Full payment of tha sarvices thc�retofore perPormed b�r Skxields 3n con-
wihE� tha re:f`und3ng plan.
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Shielda sha11 use its beat efforts to effeet the refun.ding
of the outatanding 3ndebtadness of th� City in, accordanca with tha
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refunding plan hereinabove referred to� and will undertake all acts
whiah it may lawfully perform in this connection; but such e.etion on
the part of Shields sha11 in no �anner constitute �he man.aging or
contrelling of the o�'fieial funetions of the Cit� Commission in
refunding sa3d indebtedness or in the �ssuance oP the new refunding
bonds, it boing expressly understood that the Gity Commission reservea
the right fltlly to eaercise its official diacretion and to perPorm
its offic3.al duti�s in all ma.tters pertaining to the the enthorizat-
ion and the issuance o�' the n.ew rePunding bonds, or other duties in
connection with sueh bonds. �
11.
Iu order t� insure the prompt comp].etion of the refund��q
p1an, 9hields heraby guarantees:
(a) Tha� the valid�.tion of the new reiluiding bnnds �ill be
. complated not ],ater th�tn January lst., �.944.
(b) �That pros�nt bonds' ia the �'ace amount of not less than
�1,500,-000 sha11 be exchanged for new refunding bond�
on or befora January lst, 1945; and
(o) That a11 oi the present bonda, amounting to spproximate-
ly �4,445�652 in face value� shall be exchanged i'or
new refunding bonds not :t.ater than January lst, 1946.
12.
Sk�ields ahall deposit with the Gity its certlfied check for
the swn of �I0,000 as a guarantee of performar�ce of its obligationa
under this contract. In the evsnt that Shields de�E'sults in the
performance of any oP the requirements enumerated in the preced3ng
paragraph oi th3s contract, than and theraupon the said sum of �10,000
shall be and become forfeited to the Ci�y And shall be retained by .
the City as i1z11 liquidated damages; and in addition to receiving and
retaining said sum of �10,00�, the City shall have the right �o renounee
'�ts contract and it shall thereai'ter hav9 no binding effect..on the City.
13.
Shie�,ds regrasents that the issue of bonds as set forth on
page 2 ot' Schedul� Bo as referred to in paragraph I of this agreemsnt�
will mean s ne� interest cost of 3.290 to the Citg•. I� the event that
arathematical csa].ulations do not sustain this representation, than
Shie�ds agrees to re�ise sa3d sehedule i� order to make the actual
net intereet cost to the City 3.29C� or lesa.
IN WtTNESS WI�REOF, the C3ty of C19arvrater has caueed ite
name to be hereunta subscrinled by the City Menager uf said Ci�p,
confirmed by the Mayor-Qommiasion of said City, attested by tha City
Auditor and Clerk, and its corporate seal ta be thereunto attached;
and Sh3elds & Company has caused this agreement to be exeauted by
ita repreaentative, thie l3th, wday of October, A. D. 1943.
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CITV OF CLEARWATER, FT�ORIBA
By F. �. Hend.rioks
—'Z''�ianager
George R. Seavy
' syor- omm ss oner
Attest• _
. Franlc Co�o_l_e�
Z�i�d� o -and Ierk
SHIELAS & C0.
5igned, sealed and de-
livered in presence of: BY Mar�hall Danc�_
. or t emse vas and a9soc a ea
W. Q. Wingo
Frances Breeden . �
Approve� as �o form and correctness;
RaZPh Richards
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ft E S 0 T, U T I 0 N
WHEREAS �he Merchants Aasociation of the City of
ClesrMator has instituted a rat eradication program and has
requeated P�.nar_cial_ aid from the City, and
W�EREAS said rat erad3.cation program is recognized and
fullg appreoiated as being neceasary i'or the proteetion of Lha
health of the ci�izens of Clearv�ater;
NOVJ, TiiEREFORE, BE IT RESOLVED BX TI� CITY COMMISSION
Or Tf� CITY OF CLEAR4VATER, FLORIDA,� that for svery dolYar collect-
ed by the Merchants Association and turned over to the City to be usact
for ra� eradication purposes, tha City shali contribute a do�:lar from
its general funds for the same purpose.
This resolut'ion passad and adopt�d by ths City Commiasian
oP the City of Clearwat9r this 4th. day of �etober, A. D. 1943,
Geor e R. S'.ea�vq
Mayor-8omar ssioner
Attest:
Frank M. Coola
C-�£y �ud�braan erk
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