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08/21/1950 ~ " r t: r . ! [, ~ i ~ L I f; ',", .;';,;/.::~'~".\' i"~:"\ I" . ''',;~ >. ,," ''t' ..' :,11 ';' ~ .. ;":, .. ,". ~~.t~~~:~~it~.{~~j;~~~~;j~:~;:~;;i;;;.{~..~ :.~ .;.;: ..~..._.; ~~; '. . .. :. . .,..', _ '. ,~. ..', ""'~"~~'~~""'''''''''''':'' '..:.;.,:~.'.. ~;'~.,(';.r,\.t"\.'1~..~.t.J !;;::j;t.;.'~.,ii,'},.~::...::.~:':'.~1'~~,::.:~,~~;;""~~.~(/;,'~.:.:~.:.~.:~(.~/;.:):.:.f.~.f!.':f!i;j,~;~~2\:~...<,_'-'. .. ", '...', . . ." ";." '~.,J,\. _'~L:~__~.\.'_...........:.:,. ,.".: :;..~.:;"..~,,:; -',. ...~)._,....._, ...~.:; ..., ;., "";:~,,,,':'ll.'}."'':.._.., ,"." '~...w~..",..'. \..~. ........_,t;.~,......"'_.........~........:........._-.-f"'.....;....~~'.;;~...."",J'l+.r..U;..,~~~,,~~~~.lJ,t~,:.t.:,~~~~'l"l~.~1.... ~...'.....' .:-.......~......... ...........i\.. ..'. ../- . 5'~'J " ~');.;fJ)I:'. OITY OOMMI:JSION MEETI:NG ' ~ .;t~:;~I~~U;!!,'. A. t 1":11 1950 ~",:.,!l~'i;~~!.~':,[';'" ugus Q, );"',;;:;,,.,,~;';';-'i'Y The City COD1l11ssion of Clearwater met in regular BssBion at City !!all, . ~~rlt:. Monday, August 21st, 1950, with the t'ollowing members present: l:\;;/:?;;'\;\. ~~~~. M ~a ~~~:~t :~~~~;~~:;:8ioner;\":'?2(\i.'~:~ E. B. Casler Jr. -Oommissioner ;' ,..':;. Leland F. Drew -Commlssioner Joe Turner -Commisa10ner .. ,,',"',:1, < _ ,. Absent: None Also Present Vie re : Boyd A. Bennett George T. J40Clanua Ben KrentzmarJ -City Manager -Chlef of Polloe -City Attorney . , .~ ,( :'\' li. ! The meeting WIl,S called to oroer by the Mayor Cormnissioner, who aslted it tnere were any altera tions or oorreotions of the Jtl1nuteo of the regular meet- ing of August 7, the special meeting of August 14th, or ~le speoial meeting ot August 17th. There being no corrections, the minutes were approved. City Attorney Krentzman reported that th~ advert1sement of the Publio Hearing on the Cypress Street Sanitary Sewer had not appeared ten days prior to the date set as required by the City Charter and he suggested that the date o~ the Hearing be re-set for the next regular meeting of the Commission. Com- ~1ssioner Drew moved that the next regular meeting of the Commission be held Tuesday, September 5th~ as the first Monday 1n September is a holiday, and that the Pub1io Hearing on the Cypress street Sanitary Sewer be re-set ror that date (september 5thj. The motion was seoonded by Comm1ssioner Turner and carried. On a motion by Commissioner Drew, Wbich was seconded by Commissioner Brown and oarried, the report of the County Service Officer ror the month of June was acoepted. City Attorney Krent~n reported on the recommendations made by the Com- mittee for changes 1n Ordinance #421, relative to the cutting of curbs and stated that the Committee's reoommendations had been forwarded to the Michie Pub1ishing Company for inolusion in the codification of City Ordinances. Com- missioner Casle~ moved that the Committee's report be adopted. The motion was seoonded by Commissioner Brown and oarried unanimously. The City Manager submitted a tabulation of bids received for the construc- tion of Sanitary Sowers on Somerset street and Bay Esplanade as follows: ...; ., ,[ 1. " ~t j '"1' , " ~ : , , :-- ~ "fi if r' 'ii"'lill,~":1111;'i~:I: ._"..~.: ".:'. "( '-~'~ ,., .......: ,~, -. .~; ...." . Boyce Company Marian1-0'Brien Co. Stansfield Construotion Co. Sonerset Street $1500.aO 1690.00 2101.60 Bay Esplanade $1483.25 1706.00 2046.00 Coun1ssioner Casler moved that the oontract on both jobs be &warded to the low bidder, Boyce Company. The mot ion was seconded by Commissioner Drew and carried unanimously. The City 1mnager submitted copies of p1ans drawn by Architect Herbart L. Flint.. in 1947, for the development or Coaohman Park. COI!1nissioner Casler moved 'that a perme,nent Park COl!1ll1ittee be appointed by the Mayor: the Committee to stud,. pl~ns for the deve10pmen't of al~ City Park properties and to make recommendations as to how appropriations for Park purposes may be used to the best advantage. The motion was seconded by Commissioner Tur.ner and carried. The Mayor appointed CO~ missioners Drew, Brown and Turner to the Committee. The Clerk re~d Ordinanoe ~598, &n Ordinance defining Communism and requiring registration of subversives, submitted by Oommissioner Casler. Commissioner Cas1ermoved that Ordinanoe #598 be passed on the first reading. Oommissioner TUrner seconded the motion and it carriedQ Upon roll oa11 Mayor-Commissioner Sargeant and Camn1ssioners Brown, Casler, Drew and Turner voted "Aye". There were none opposed. Commissioner Casler moved that the Ordinance be passed on the seoond reading, by title onl,. The motion was seconded by Commissioner Brown an~ carriede On the question, Commissioners Brown, Oas1er, Drew, Sargeant and Turner voted "Aye". There '"ere none opposed. Commissioner Casler moved that Ordinanoe #598, be passad on the thi~ reading. The motion was seconded by Commissioner 'r-.1.rner and oarr1ed. On rol~ 0111 the fo11owing vote was registered: A"1es, Brown, Caslor, Drew.. Sargeant. and Turner. "No", none, whereupon the Mayor declared the' Ordinance adopted. The Oit,. Attorney subMitted Ordinance #596, an Ordinance amending Ordinanoe ~94, b:r advanoing one year, the date on which certain oertificates a~ redeemable. C0lIl11ies1oner Casler moved that Ordinanoe #596 be passed on the first reading. The motiorl .8 seooncled b,. CommIssioner Turner and oarried. The following vote was. reoordedl A,.ea, Co~1ssioners Brown, CQS~er8 Drew, Sargeant and Turner. "No", none. Oommissioner aas1a~ moved that Ordinance 1596 be read the seoond time, b7 t1tle on11- Commissioner Tur.ner seconded Che motion and it carried. Commissioner Drew moved that the Ordinance be passed on the second reading. The motion was seoonded b7 Commlssionor Casler aud oarried. On ro11 call Commissioners Brown, CaBler, Drew.. 8arg~t and Tu:mer voted ItA'1e.... There were none opposed. Oom- m1ssioner Drew moved tha't Ordinanoe 1596 be paased on the third and tinalread- 1ng. The mo'tion was seoonded b, Commissioner Turner and carried. The following vote waa,.;!,1'eoorde'.ll ItA)"es", Oommissioners Brown, Casler, Drew,. Sargeant and Tu.mert . !he J4ayor decJ.Bred the Ordinanoe adopted. .t\..... , .,.' " ,": ~" :. ,';,-'"" . ...', "'.' . :_0. .,', "0 . . ...,.\.,.,,,......., ' ..~ CITY COMMISSION MEETING Auguat 21.. 1950 " ,. .', The City Attorney now presented Ordinance #591_ an Ordinance amending Seotions 6 and 7 of Ordinanoe #596, by ohanging the dates on .aich certificates may be rede~ed. Ccmmi&sioner Drew moved that Ordinance 1597 be passed on th~ first reading. T.he motion was seoonded by Conm1ss10ner Casler and carrIed. On roll oal1, CommIssioners Brown, Casler. Drew, Sargeant and Turner voted A180 There were none opposed. Commissioner Casler moved that the Ordlnanoe be read the second time. by title only. The motion was seoonded by Cammls~ioner Tu~er and carrIed. Commissioner Casler moved that Ordinanoe #591 be passed on the seoond reading. Commissioner Turner seconded the motion and it oarried. The following voto was recorded: "AyesU, Conmltlsionors Brown, Casler_ Drew, Sargeant and Turn6r. RNo". none~ Commissioner Casler moved that Ordinano~ #597 be peeRed on the thi~ reading. The motion was seoonded by ComniBsioner Turner and carried. Commissioners Brown, Casler. Drew, Sargeant and Turner voted "Aye". There were none opposed. The Mayor declared the Ordinance adopted. On a motion by Cornmissioner Dre", seconded by Conmisaioner Casler and oarried, the Conm1ssion gave a vote o~ thanks to Commissioner Brown tor calling attention to the discrepancy between the Ordinance and the bid on the matter of oallable dates tor the Revenue Certiricates~ '.., l": . ! .. . .j ---.., .r-"'\ . .., t'.'''''':,~,) 'l!he CJ.erk read a letter addressed to the Mayor by Mr. Warren Denman, in whioh Mr. Denman oomplained of the unkempt appearance of a lot adjoining his property and requesting that the City have the lot cleaned. Commissioner Drew moved that the natter be ~ferred to the City Manager fo~ a Resolution to be sub- mitted in the regular manner. The motion was seoonded by Commissioner Turner and carried. ~ . ~ .:;. "':".'~; '~':"': " .' '.~: ".~;.."/~'/.'...~'- \. ,..:'_'''1~C)y..",.,I\.,.. ' {"" .",,,,-":'M';"A f .. -"." ","""",".,!'~" 1';111f~, i ,,I" '\' ....,,1~..~.',.;J..~:-.' -"1 b~t}~~~l~~Y~'" .~ i"" . "':~';}i';'Ii-tJ;"?1It. " l'{j~~",: '~;:~~~~~2 {i{l '.., .. The C~erk read the copy of a letter addressed to the Chief ot Police by Mr. Harold Rarpham~ in which Mr. Harpham complained of traf"f1c conditione at Sun- burst Court and Fort Harrison Avenue. On a motion by Commissioner Casler_ seoonded by Commissioner Turner and carried. the matter was referred to the Chief" of Polioe. Cammissioner Brown. addressing the other members of the Comm1ssion~ criticized the manner in which the Building Department handles inspections and per.nits~ the manner of enforcing the Sign Ordinance and conduct of the Sanitary Department. He said the blame tell on the City l~nager tor not exercising the proper supervision over the different departments. A letter addressed to the Oommission by Attorney Ralph Wo Carson, enclosi~ proposed legislation advocated by the Federation of Civic Cluba for p~ohibitiTg Comnercial Net Fishing in Clearwater Bay. was read to the Commission. Commissioner Casler moved that the matter be rererred to the City Attorney tor ~onsideration by the C0llDl11ss:ton at the time l1'ltters are prepared for aotion by the State Legis- lature. The motion was seconded by Connnissioner Turner and oarried. Oommissioner Drew asked that the City Attorney report on the matter at the next meeting. The City Attornay reported that our present Ordinance does not restrict the erection of reasonable prioe signs in front of Motels, and it is his opinion thatt the City cannot enact valid legislation completely prohibiting such sIgns. Cam- missioner Casler moved trmt the report ot the City Attorney on the Sign Ordinance be accepted. The motion was seconded by Commissioner ~urner and carried. The City 1~nager reported that tests nade at Clearwater Beach disclosed a 10s8 or 48% o~ the sand in front of the Park, South of the Palm Pavilion. and a 1085 ot 43% at Everingham's Pavilion. Commissioner Drew reported that the Committee had expected to meet with Mr. Grover C. Eldridge this date, but due to Mr. Eldridge being out of town, the meet- in~ l~d to be postponed. The Committee expects to have a meeting with Mr. Eldridge Thursday ~ August 24th. The Clerk subnl1tted an offer by Ralph Carter for settlement of delinquent taxes on Lot ll~ Block B, Fairmont Subdivision, for the amount of $100.00. Com- missioner Drew moved that the payment be accepted if payment is, made on all. property owned by Mr. Carter. The motion was seconded by Cormnissioner Brown B'nd carried" .', ". The m11ef of Police~ having investigated the requests for a f"i~teen minute Parking Spece in front of McGee Electric Company and a fifteen minute Parking Spaoe in f~ont of Gulf Automotive Company. recommended the granting ot the requests. The matter was deferred. by consent_ until the results of a Traffic Survey con- ducted by the State Road Department are known. On a motion by Commissioner Drew, seconded by Commissioner Brown and oarried. the meeting was adjourned. Att.~ ' City AUdito~rl.~k ...... ....tl:l'ro.:- " , ' ;>;".:z;;~,;j~tfl~~&Jf~0~BSht5:~i~~;~~tf~it~1W~!.t~~~~i&1~~t~t~;~Y,: _. ;;;-,';S a . t:"'" f~:::.'. ~...t Y/5",,:, {., ~' !~t:" ;::':'.':' u:, 1. Reading of minutes of regular meeting Au~~st 7, speoial meeting August l~ and special meeting August 17. 2. Publio Hearing on the construction of sanitary sewer on Cypress street which was ordered at the meeting of August 7. S. Report of Veteran Service Offioer for tho month of June. ~. Report of the oommittee composed or Oommissioners Drew. Brown and Turner on review of ordinance 421 regal~lng permits for cutting of curbs in the City Sftree~s. 5. City Attorney's report on investigation of the possibility of prohibiting oer- tain types of signs by ordinanoe called to the attention of the Cammission by Mr. Mercer at the meeting of August 7., 6. Oonsideration of Federation of Civic Clubs proposed statute reletive to net fishing in Olearwater Harbor. 7. Consideration of letter from P1nellas County Health Department relative to Olearwa ter ~'phus Control ordinancel566. 8. The following water and gas roain extensions l6s8 than ~300.00 Which were approved by the Oity Manager: !.~Y 31. ~ 80 ft. of 1" gas main on B ay Haven Drive to serve two (2) customers' at estimated cost of $40.00~ fil,,2l, 1950 80 i't 0 water main on Bay Haven Drive to serve two customers ait estimated cost of $60.0Q. 190 ft. of 21t wa tex' ma in on Somerset East of Mandala:r Boulevard. to serve one customer - estimated cost ot $135.00. August ,18~ 195Q 450 f't. of' 2" water main on Poinsettia South at SQt!lerae't; 50 :ft. of 2" wate21"' main on Somerset St. east of Mandalay. 275 ft. of 2" water main on ~~orida Ave. So. to Gulf to Bay at estimated oost ot $170.00. 9. Consideration of 500 ft of' 6" water main on Bay Esplanade southerl'1 and westerl.,. rrom the present main on Bay Esplanade to serve one customer. Estimated cost of $1200.00. 1011 Consideration of 275 :ft. of 6ft water nlEdn on Lake Ave. (prsviousl,. known as Wood Drive) South from the Sltt main on Walrmt Street. to Elnnrood S'ttoeet. COlmeoting to the 2!t main on Elmwood. This 1bstsJ.lat1on is to give reliet to " ,- ," oustomers on the easterl,. end ot Elmwood as the present mains are not large ~~tJ:~i;~,(;;~r~~~\f;,;; ~. :::::: ::~;::~:::~:~:: ~:::r 5 ~::. o~:::r: ~:e ":r::2:: :: :~a ':V-::>,-,';1;;:::w,, ',J ._,ma1n,on Druid.Read. 360 rt. ot 2" main on Woodl'Uf"t Avenue 270 tt. ot 211, "?4.;\:(r.'.t'::)::;~i~~;"~~;;;:;:;;': ,-- , ".1n,.'(jn Keene Road to f'urnish va tel' serv1ce in oak ~ore Sttbd1v1s1on. !l:h11J .,... V.l~fi~'~.i~,;.;F\)::' ;.' H ..' . =---' . ".-.., :;I,:~;;)~~:;:~;:C;W':\~i!!Zd~~~:j;~';:i'ib"\d)';<';;'"..c...;.; .:. " ;..t .~.: ''i ,",.' '. -.1- CITY OOMMISSION MEETIlIG August 21" 1950 ~~. " r i , , 1.- ':f f ,!:~{... ~~~ ',,'i ,;( · ',';;';" ':u.~ " ',,~::.. ',j , , :'}.::~',',: ~',' \ ".;,-".:,y August 18. 1950 !~yor-Comm1SBioner Harry D. Sargeant Comm1ssiOl'1ers: Leland F. Drew E. B. Casler Herbert M. Brown Joe Turner Gentlemenr A regular meeting of the City Commission w1ll be held at 7&30 P. M. in the C1t~ Hall on August 21. 1950. BAB :gK Yours very truly, Boyd A. Bennett, City Manager AGENDA -- MII-- July 22~ 1950 150 ft of 21! water main on Poinsettia to serve one (1) oustomer at estimated cost of $100.00. JUly 21, ~95Q 400 ft. o~ 2" water main on Cypress Street to serve one customer - estimated coat $265.00. July 27 II 195Q 400 ft. of 2" water main (200 ft. on Harbor Drive and 200 ft. on N. Wash- ington to serve one customer at estimated cost of $255.00. JUly 20, 1950: 100 f't. of 2" water main on Woodlawn Street to serve one customer - estj~ted cost $80.00. 50 ft. of 2n water main on Spring Road at estimated cost of $50.00. August 3. 1950 65 ft. of 291 water main on Plumosa South of Gulf to Be.y Blvd. - to serve one customer at estimated coat or $50.00. I" .'>' ......... .," '.'. ".i,<.:~: .;'J.:. f/:: ,~.t.~'.~~~::;'~f:~~~i:.: , ..,',. ' "., , ,", ,", , , ", ','. , . .... '" ,'" \' ~' ....1 , , " I '. -'I .....t... l,'~,;~il~;i t. ";""';.'''' 1. I.;?..\ ""j' . main will run southerly from the end of the present main on Phoenu Avenue to Dr-uid thance easterly on Druid Road to Woodruff Avenue and Keene ~venuo and will furnish water service the oomp1ete length of Phoenix Avenue to Gulf' to Bay Blvd. to Druid Road and to 1uts on Woodruff Avenue and Keene Road. Present applications oover three (3) oustomers. The estimated ooat 18 $2,600.00. 12. Presentation of report from state Road Commission on study of traffio oon- gestion of Ft. Harrison Avenue and Cleveland Street and suggested plan for relieving the situation. Consideration of' offer of tax settlement of Lot 11, B100k B, F8innont Sub- division by Ralph Carter. Presentation of l?lorida Railroad atl'ld Public Utility Commissions order on the application of Railway Express Agenoy for authority to increase intra- atate rates. Presentation of notice of a hearing before the Florida R.R. and Publio Utility Commission on the application of the Seaboard Airline R.R. to operate an auto transportation campany as a common carrier of freight be- tween Tampa and Clearwater and between Tampa and St. Petersburg. Report of the City Manager on parking on the east side of Garden Avenue, requested by Gulf Automotive Company and MoGee Electric Campany. Presenta tion of Clearwa ter Cbanlber of Commerce annual audit by c6rtif'ie6 publio accountant for the calendar year ending Deoember 31, 1949. Report of the committee - Commissioners Drew alld Brown on the matter or acquiring property on the east side of Myrtle Avenue from the Eldridge Estate and from Mr. Eldridge. Report of City N~nager on oondition of sand fill on the beaches as shown by recent cross-sections taken by the Enginee~ing Department. Report of bids received on sanitary sewers on So~erset Street and Bay Esplanade. Notice from the Florida Railroad Public Utllity Commission of the oontinuation of the hearings on the Peninsular Telephone ~ended petition for inorease in rates set for 9:30 A.M. Tue5day~ Sept~ber l2~ in the City Hall - Tampa, Fla. Consideration of' Iandscape Architect Herbert L. Flint IS plans for the develop- ment of Coachman Park which were drawn by him in 1947 at the request of the City. Commission sitting as trustees for the Pension Plan. 13. 14. 15. 16. 1'1. 18. 19. 20. 21. 22. . . '."", . . , :.' ,', : ,';"; '..' '......._~_._.... _.""~_""..r~'_~ " ",i. " .,. :.'t, , ". . ..,,", " . '.,' ~',;'.' r. r ..;., " ,...v.~ ~ .'. :.\... 0,,0",,""4' ~: -f- CITY COlwtMISSION MEETING August 21~ 1950 ,. . . I,' ,'~, >. :. ':..~. <;,;':.: :,.:~:;i:~ :..ifr:Y~;I;<~da.'i::d~~i\~~~:'~(;~::f~~~~~M~1!J\:':~f\~i~:<;$~t~~~~:~~~~t~,t~~fi~~7i.Kif~" . -~~ ,I ~~ '" .....~'~~, oll.oo...~'~lI\:Jhi.i.b.~'~';~':.e.ol~'~-'J('1\.;'f,ii.,VAli.l t~.'J.'-IrW,**~);1V1i~r-;"""'4lrl")io~-'i.4t..'1 ~.lj,~ ~ L-Yl. ./ ..:J 1 b AGEND~ --Contld. . ,.' '~, "', l: '1. .... "".:; I I " , ',: -', '.\. ' . ~' , ; > ...~.'" ,".;. .- . '.",.., .'":./'" Inter-Office Comnmn1cation 7-22-50 To City ~mnager Bennett From Chief McC~amma Subjeot Parking on East side of Garden Avenue HaVing made investigation of parking conditions on East aide of Gardon Avenue, between Park and Pierce StI'eets, and have contacted all Merchants in '!ihis block. After explaining the trafric situation and giving oonsideration to their re- quests, I hereby recommend that one (1) 15-minute parlcing apace be gran~ed in front o~ McGee Electric Company, and one (1) 15-minute parking space be granted in front of Gulf Automotive Company. Mr. Herahock does not request a similar parking space in front of his business. It i8 my opinion that the above recommendations will solve the parking p~O$ blem in that area at this time. Attached is original letter rrom the Gulf Automotive Co., 115 So. Gard~n Ave., dated July 17, relative to parking on eRst side of Garden Ave. Will you please make a study of this matter and advise you~ recommendations rela- tive to same~ with the re.turn of this letter. To From Respeotfully yours, Signed: Oeo. T. McClamma Chief' McC1anltl'la Mr. 'Bennett JUly 18, 1950 I...;' . ,,', . J.. 'r, ' ...... ~...~. . ,. .. ' . ',; ;...~;~ ~ :t~l~t::, \" '/: '~'J:Z~~~~".~~':.::: .,..,-," :'~~~~~~~~~:~i~~;":~'';i;i~~ :.~).':f1:.'~1.r.':! ,:.j....)"" ,\ '. ~ :: ,~~~~~]\;'~:'.l~' d.. . '~.:. _ ." ..~~ '~~~.' ! ~.i ,'\ ',,;.,;;)1" 1 .', 1 . .. , ..'i . ..., ":-:. " ',: . , ., ~;.. .. .". :",: ..: ' i." ~'~'l ,<'.. ....', ",;, .,., 'j f';'1 '~1 x....... (........ .' ':};:. ~;. ..... .::..' -.r."(,.~.....:.' " '\'I:';~; ,';:,..:.: ":.:'.~',,~.,, :,~ " ,".' /,~.:~.I "":11<'"':;.''''' .:'~.;:, ," ';"': ":.' .'. ":','.if~:;i.';:;;;~;'~i:~:;~i:';':~;H~~;:f~{I~~;~!~~~~}~;t1i~>~f;1Hi\;' ):;;';::;;~~:~~Y,;~,4.!(~;ii.~~~t:/' "',. " , ',0 ) .."'if~.'.h.'. "~~~',~:v~~"'..:t4;N'.t'w.-:...l~<4U~.1~~\l';'J'!xd)!\l!.~t"'fffII~J.~'l.t1.!!.f,.lll"...Xf,.:t",n !(\~;~ti.".:u~"''il~i!.t'W_l;'\,; i. ',~~~,~~.it:.!, :::~.: i ~1;.:. 17 (~!:~':~~1 ~)~ ; \~h::t?~ ".y ...? .'~.:'; . !}i~; '.,:.", \~ f".!H:t<, 'ii*1f\>;~\1 ~,;~""i , ~1{~~l~\~::~ il:~.fi*<.~~ '~~i~~~i;:::im:~~i~&~ rF"';'l.tt,;'~1Ji:'I~ 1\',;, , . ;r"!~~~it I . ''', I .,.. ,~ . i 1 . ' r ' ' I . .', , ~ . ) i ~ .. .' . . . . .' .~., t. ......;.... ., " _ ..} ","w" :." : .:. __ .. .~...' 1-" -s- CITY COMMISSION MEETING August 21, 1950 JUly 17, 1900 Mru Boyd Bennett, City Manager, Clearwater, Fla. Dear Sir: About a year ago an ordinance wa~ passed stopping parking on the eaat side or Garden Ave. This has seriously affeoted our business as approximately 9~ or our business oomes from garage men driVing up 1n oars or truoks atter parts or equipment. .. '" The MoGee Eleotrio Company next door have a spaoe reserved for truck parking. The Clearwater Feed Store on the other side of U3 have a 16 minute parking space tor oustomers. Many of our oustomers stop in front of our store in trucks beoause the street marking is confusing and Officer Dyal ~ediately tags them tor parking 1n a no parking space. VIe immediately lose their business beoause all of our canpetito:rs have available parking spaces at their stores. The MoGee Electric Company would like to have their spaoe ohanged because some of their customers stop in the truck spaoe in their passenger cars and Offioer Dya~ also gives them a ticket for parking in a truck space. Putting metors in front of the store would not answer our problem as no one wanta tv deposit a c01n for stopping just a minute for parts and would only drive away more of our business. We request that you put a 15 minute parking spaoe in rront of the store. ), .' '.'\ Copy to Commissioner Drew. The MoGee Electric Company would like to have their truck. space ohanged to a 15 minute parking space also. We di~cUSB8d this with Commissioner Drew and he advised us that you are the prope~ person to submit this request to. As this is seriously affeoting our business we request that you give it your immediate attention. Yvurs very truly. GULF AUTOMOTIVE COMPANY Si~ed: H. W. Crippen tt T. A. McGee MCGEE ELECTRIC COMPANY ------------------~---------------------~ City Commission of Clearwater~ City Hall~ C1earwater, Florida Re: Commercial Net Fishing in Clearwater Harbor July 27, 1950 Gentlemen: You will recall at the meeting of your Commission in the early part of Jun.. tl~ Federation of Civic Clubs sought some definite action to prohibit the commer- cial net fishing in Clearwater Harbor in the hopes of preserving the sports fish- ing. Ko action was taken by the Commission at that time as there was no definite sta tute to approve or disapprove for enaotment at the next l.egisJlature. At this same meeting Mr. Lucas" President of the Federation of Civic Clubs:" said that such a statute would be 3ubmitted, and asked the writer to do so. Aooordingly~ enclosed in duplioate is a suggested draft of such a statute patterned on that of the City of st. PeterSburg, a copy of which~ togethsr with a letter from the St. Petersburg City Attorney on the question of its constitution- alit7, had been previously forwarded to your Commission. Mr. Lucas just left to be gone for several months, and asked me to subm,t this to you directly as for him the President of the Federation of Civic C1uos. Respectfully submitted, Signed: Ralph W. Carson RWC:gob ----------------~~~ Aug. 18, 195Q Mayor H. D. Sargeant, Clearwater, Florida. Dea r Mayor: I wrote you three weeks ago re the unsightly condition' of the lot next to m'1 house. Still nothing has been done upon mY' return from Miami. You saw~ when ,"ou were here ~ what should be done. . C'J~18 oondition has been brought to your attention for the past 8 or 10 mOl1tha. llbat"muat I do to get some aotlont I await your reply. Yours very troll Slgned: Warren Denman ~o not axls t in M1ami.Who shOUld I take the DB t tar .~. . ....no~_ U,i .. ".")~JJ&~~;{;~0.L~~{~L;:>;;.~'~;~ :~;:~:i_:. :-:'.'~' .". ";:>"""" "..,..,..",.. .,..... .".::.;:",.~;.=.~:.~ C~ CO~{IBSION MEETING A.ugust 21_ 1950 5tjJ . . ,.,1"- JUly 2-.1. 1950 ",;~" ,'.' '~ '. '.,.,.JJ , , ""\ '~w :.',;V"! George McClamma, Chief of Police, Os roen A venue, Clearwater. Flso Dear Sir: As you will see from your traffio acoident reoorda, there have been three automobile accidents in the vioinity of the Sunburst Apartments in the past week. It happens our insureds were invoived in two of them. I live on Sunburst Court and it seems to me that Bome aotion should be taken immediately to slow down the speed of cars corning around the corner after oross- ing the bridge. Since I come out of Sunburst Court onto Fort Harrison Avenue several t~es every day, I can testify that it is almost as muoh as your life is worth to pullout there at any time. First of all, there are' usually cars parked direotly across from the inter- section, also on the west side above and below the interseotion. ~~is narroWo down the traf~ic lane beyond all reason. While I believe the southbound traffie comes the fastest, it does seem to me of' late that the northbound traffio has also pioked up oonsiderable speed. I don't know whether a blinker would help at the turn or not, but I reel something should be done before you have a fatal accident there. Then too, northbound traffic ooming up Myrtle seldom pay any attention to the "stop" sign in breaking into the traffic flow. Another point in traffic aotivities in Clearwater, which likewise soema to me that needs attention - somehow or other traffio at corners, even where you have a l1ght_ people Inai~t on making a left turn in front of through traffic. They do it here on our corner at Garden Avenue and Cleveland Street all the time. Some educational progrmn should be instituted in Clearwater to convince people that such a violation will get them in trouble. No plaoe that I hrve ever bean, can you make such a turn without aocepting all responsibility in the event of an accident. Here~ no partioular attention is paid to this point, and I doubt if anybody knows what the Bcore is. I ,", . ',' \ ,'; , ) . ., , " :",'1 , ,> ',) J,~:' \ ; i lIBlI/xl oc Mayor Sargeant 00 Boyd Bennett Yours very truly, Signed: Harold Harpham. ------~------------------- To The Honorable Boa~ of County Comm~ssionera, Pinellas County Cou~t House~ Clearwater, Florida. 7/20/50 Subject: Finance Report Gentlemen: There are submitted herewith the following reports for the month of June, U)50 I Finanoial reports covering receipts and disbursements for Clearwater Veterans' County Service Office. Report of activities of Clearwater and St~ Petersburg Veterans' County Servioe Offices. Trusting you wi1~ find these reports in order, I remain Yours trul)'. Sigued: J.. A. Preedom County Service Of~ioer JAP/il o.c. to City of Clearwater c.c. to Cit'Y of Duued1n c.o. to City of Tarpon Springs ...---..---------- The followi!lg is a s ta tement oovering reoeipts and disbursements of Clearwa ter Veterans' County Service Office ~or the month of June~ 1950: Receipts Disburse:mentSl. Pinel1as County...................$215.45 City of 01earwater.......~........ 50.00 City of Dun.adin................... 9.00 City of Tarpon Springs............ 9.00 Total e283.45 J. A. Preedom, SQlary.~......$127.00 Secretary~ Balnry...~........ 100.00 Car operation................ 25.00 TalePhone & long dlstanoe...~ 8.45 Postage & regiatra'tlons ..... 8.95 Pt~. staty. office expense..* and inoidentals.............. 14.05 Total....$~83.45- c.o~ to City of Clea~ter o.c~ ton - Dunedin c.o. to" n Tarpon Springs SIGnED: J. A. Preedan County Servioe Officer -~, , , ,';' ~ , '1 , " 1 ~ 1 <,!, J I :J 1 ? ~ { .., ~ " '..1 ,.il ":' j :" ;, . ,; , , ~ , .: ~'., ., . ~.:, . . ::/,;.. .. .-\';:~: .... . . , " ,"". 1",:'''''' "';,', :; ",'. l" ,: ~::' , ~ ! t [ i Ii . ~ . d"': ,:."o".'..:.,'~, .:.:.' > - '7, CITY COmiISSION lItEETING August 21, 1950 5"? tJ ORDI~NOE NO~.694 AN ORDINANCE PROVIDING FOR THl~ OONSTRUCTIOn.D1PROVE- MEm' AND EQUIP1\lElfl1 0}1' A OOMll1ERCIAL AND YACHT BASIN PROJECT; AUTHORIZING THE ISSUANCE OF $115,000 COM- MERCIAL AND YAOHT BASIN REVENUE CERTIPICATES; AND PROVIDI1~G FOR THE RIGIITS OF THE HOLDERS THEREOFca BE IT ORDAINED H[ THE CITY C014MISSION OF THE CITY OF C~RWATER; FLORIDA: ARTICLE I STATUTORY AUTHORITY. FINDINGS AnD DEFIINITIONS. 1. AUTHORITY OF THIS ORDINANCE. This ordinance is adopted pursuant '\;0 the provisions of Chapter 9710, Special Acts of the Legislature of Florida, 1923, and amendments thereof and BupplenJents thereto, being the Charter of the City of Clear\mter, and other applicable provisions of law. It is hereby found and determined aa .follows: (A) Tha t the City of Clearwater is now the owner of land, prenl1S'es and wa tar rights in said City, known as Land Lots 5. 7, 8, 9, ~O, 11, 12 ~nd 13 and Water Lot 1 of the City Park Subdivision, Clearwater Beach Island, Clearwater, Florida, and that the revenuos derived and to be derived from the fees! rentals or othe~ charges for the use of said l~nd and water rights and ~acilit es constructed and to be oonstruoted thereon, as herein authorized, are not pledged or encumbered in any manner. " ',' -\ . p' .'. ,"0, ".. , "...,i'::~\.;t: . , ,'J.."" ~ ,; :'f\. ~. :<:".J~~~:~;\.\ , " r"c" , i~;',i~~ <:.,:'~:". ,<(:l:i~~' ..~\:f~";:. =-:1 .~ ~ (B) That the construction. improvement and equip~ent of a Municipal Com- mercial and Yacht Basin (herein ca~led ttCommeroial and Yacht Basin li'acili ties") as hereinafter described, are for a proper municipal purpose, and it is imperative in order to preserve the public health and p~rvid recreational facilities for the, inhabit&nts of the Oity of Clearwat~r that sai ommercial and Yacht Basin Facilities shall be constructed, linproved an quipped in accordance with the pro- visions of this Ordinance. p~o 'eN (c) That the revenues to be derived from the Project hereinafter described, including the Commercial and Yacht Basin Facilities, will be sufficient to pay the principal of anu interest on al~ of the Commercial and Yacht Basin Revenue Certificates issued pursuant t.o this Ordinance end to make all reserve, sinking fund and other payments provided for in this Ordinance, and to pay the necessary coat of ope~ting and maintaining said Project. CD) That the principal of and interest on the Comnercial and Yacht Basin Revenue Certificates to be issued pursuant to this Ordinance and all of the reserve, sinking fund and other payments provided for 1n this Ordinance, wi1', be paid solely from the Revenues derived by the City from the operation of said Pro- ject, and it will never be necessary or authorized to use the ad valorem taxing power or any other funds of said City to pay the principal of and interest on said Revenue Certificates to be issued pursuant to this Ordinance, 01' to make any of the reserve, sinking fund or other paymenta provided for in this Ordinance, and said Revenue Certificates issued pursuant to this Ordinance shall not constitute: a lien upon any 0: the properties of said Project or upon any other property what- soever of the City. (E) That construction, improvement and equipment of said Commercial and Yacht Basin Facilities shall be urldertaken and completed in accordance with the plans and specifications proposed by the City's Engineer, and heretofore filed in the office of the City Auditor and Olerk, at an estimated cost of $115,000. Such cost shall be deem~d to include the coat of the construotion~ improvement and equipment of' said COllmlercial and 'Yacht Basin lcacil1ti.f'\3 pursuant to said plans and specifications, including the acquisition of any lands or interest therein and of any fixture~ or equipment or properties deemed necessary or convenient therefor. interest upon the Commercial and 'Yacht Basin Revenue Certificates issued pursuant to this Ordinance prior to. and during and f~r six months after the completion an~ placing in operation of said Conmercial and Yacl~ Basin Facilities; engineering and le~al expenses; expenses for eetinmtes of costs and o:r Revenues; expenses for plans, specifications and surveys and such other expenses a3 may be necessary or inoident to the financing authorized by this Ordinance, and the construotion, Un- provement and equtpping of such Commercial and Yacht Basin Facilities and the plac- ing o~ same in opezBtion. 2. ORDINANCE TO CONSTITUTE CONTRACT. In consideration of the aooeptance or the Certificates authorized to be issued hereunder by those who shall hold the same from time to time, this ordinance shall be deemed to be and shall:. constitute a contract between the City of' Clearwater, Florida, and such certificateholders~ and the covenants and agreements herein set forth to be performed by said Cit7 shall be for the equal benefit, protection and securIty of the legal holders or Qny and all ':)f f:11Ch Certif:1.catcs 2nd the coupons attached thereto" all of which shall be o:f equal rank and without preference, priority or diatlnction ot any o~ the Certificates or ooupons over any other thereof except as expressl~ provlde~ thel'e1n and herein. 3. DEFINITIOliS.. lJ.'he follOWing terms shall. have the follOWing mellnInga in this OrdinsDoa unless ijhe text othel~ise exprossly ~equIres: (a) "Cit,." shall mean t he City or Clearwa tertJ Florida. (b) "Aot" Bhall mesn the Charter of the City ot CleQrwater~ oonst1tuting , ..... ._./..."1."".-..... l~ ....~.':;i.7:*:S':3?r;~. "'''bCfJ:., ),: . ." " ',:. ; ;:< ';'~'.;.~'~~::\~. . ':': ,"' . "!:'.,: ,....~<;:! '.:'" ,t":-,: '~. . '. l';~t~;,.,::~i~~;t_~k~~',";,!C~;"".'." I. .;"i'~ ,. "'1 . ,":;'"::,(",~.,,i~';.. \.:.:.:;:: !~'i':".':'.,":: ,1< '. :', , . "I ,,' .' . '., ~ ' -:1 'r....:. ". -f- CI'lY OOMMISSION MEETING August 21, 1950 Ordinanoe 594, Cont'd Chapter 9710, Speoial A.cta of the Leg1slat-J.re of.' Florida, 1923, and amendment. thereof and supplements thereto. (c) "Oertifioa tea" shall mean tho $115,000 COnIll1orc1al and Yaoht BIls1n Revenue Certificates authorized to be issued pursuant to this Ordirdnce and any additional Certificates hereafter issued pursuant to subsection 13 (L) hereof 1n the manner therein p~ovided, and the interest ooupons attaohed to Ba1d Oert!. ficates. , . . . . . I ;J~ f . ",..... ! . I I I I I I f I I I I j 1 ~ Cd) "'Holder of Certifioates" or ItCertifioateho1der", 01" an.,. similar tenn, shall mean any person who shall be th~ bearer or owner of any outstanding Certificate or Certificates registered to beare~ or not registered, or the registered owner of any outstanding Certificate or Certificates whiCh s~ll at the time be regi$tered other than to bearer, or of any ooupons representing interest acorued or to aocrue on said Certificates. (e) "Commerc1al and Yacht Basin f\acilitie9~' shal11l1ean the eG. wa11, piers, docks and cat walks oonstructed and to be constructed in the area of the Project pursuant to the abovementioned plans and specifications of the C1ty's Engineer. (f) "projeotn shall mean the land, promises, water rights and area within the City known as Land Lots 5, 7, 8, 9, 10, l~, 12 and 13 and Water Lot ] of the City Park Subdivision, Clearwater Beaoh Island, Clearwate~, Florida, and all improvements and facilities now or hereafter 100ated or oonstructed thereon, in- ClUding the Commercial 81m Yacht Basin Faoi1itie~, together with all buildings, fixtures, equipment and a11 property, real or persona1, tangible or intangible, now or hereafter owned or used in connection with such Project or such Commercial and Yacht Basin Facilit1es. (g) "Revenues" shall mean all rates, fees, charges, rel'ltals' or other income reoeived by the City, or accrued to the City, or any board or agency thereof in control of the management and operation of the P~oject, and all parts thereof, from the operation of said Project, all as calculated in acaordance with sound aocounting practice. Revenues shall be speclficall~ deemed to in- clude, without being li~ited to, any and ell ~entals or other payments received by the City frora lessees:, licensees, or other persons for said Project, or any part thereof; provided, however, that there is hereby expressly excluded ~ran suoh definition of Revenues the payment of not ~xceeding $25,000 or 1e8s which it is contemplated the City ~ill receive as a lump sum payment upon the execution or a lease covering premises within the Project constituting approximately one-half of Land Lot 5 thereof and such sum BO rece i ved may be used by the City fall any or its corporate purposes. (h) "Operating Expensest' shall mean the current expenses, pa id or accrued, of operation, maintenance and repair of said Project and ahall 1nclude~ without limiting the generality of the foregoing, insurance premiums and ad- ministrative expenses of the City properly chargeable to the Project~ labor, the cost of materials and supplies used for current opel~tlon, and charges for the accumulation of appropriate reserves not annually recurrent but which are such as may reasonably be expected to be incurred in accordanoe with sound accounting practice. "Operating Expenses" shall not include any allowance for deprec1at1on~ renewals or extensions or any charges for the accumulation of reserves for capital rep1acementsl :r-enewals or extensions; provided, hO'ifeV81', that whenever and wherever the City shall lease or license any portion of said Project under teTom.s providing for the pay.ment or net rentals to the City and whereby the lessee or ~icansee pays part or all of the costa of operation and r~intenance, then the part of such costs of operation and mnintenance paid by such lessee or licensees shall not be included under the tenn "Operating Expenses" as used in this; subsection (h). (1) Words importing singular number shall include the plural number in eaoh case and vioe versa, and wo~a ~lporting persons ahall include f1r.ms and. corporations. ARTICLE II AUTHORIZA.TIOn" TERMS i EXEOtJTION, REGISTRATION' AND ISSUE OF CERTIFICATES. 4. AUTHORIZATION OF CERTIFICATES. Sub ject and pursuant to the pro-vls10ne of this Ordinance, Certific&tes of the City of" Clearwater to be known as "'Commercial and Yaoht Basin Revenue CertificatesU are hereby authorized to be issued in the a~gregate principal amount of not exceeding One Hun~red Fifteen ~~crusana Dollars ('115,000). 5. DESCRIPTION OF OERTIFICATES. The Certificates shall be dated JuJ.y 1_ 1950, shall be in the denamination of $1,000 each, shall be numbered fram ! to 115, inclusive, shall bear interest at the rate of three and one-quarter per centum C$) per annUll1 payable semi-annually on January 1 and July 1 of each year, and sha!] mature seria11y in numerical order, lowest n~bers r1rst, on July ] of eacn year, $5,000 in each of the years 1952 to 1956, inc1usive, and $10,000 in eaoh of the 1ears 1957 to 1965, inclusive. The Certificates maturing in the years 19S2 to 1956~ 1nalusive, ahall not be redeemab1e prior to maturity. The Oertificates maturing 1n the yea.rs 195'7 to 1965;, ino11.J.sive, shilll be redeemable prior to maturity, at the option of the Ctty on JUly 1. 1956, or on any interest payment date t~ereafter prior to mwt~1ty, 2B a whole or in part, 1n inverse nwnerical order, a. t a. redemption price or par and acoru.ed ..... .. -- ~'~~~- tJ..< '.' t.' .'":..'> . '.' " , I , ' ., ;, ... , . - I _., ~ ,';') , . 'I ,i~:;:,f~~;; i ,,,.-._.,,,,.-,.:,\,..~t ! f J' ~.::;\,~':i~(1jJ${:~, '''' ", ,'",," \ .' .; I ::.~ ~l.v~ .:> IJI"~f " ...,.~,._I ....t~;~4 ;~...~~~ ,;;;:,&0.... f.I~.~." ~f~:' ;~" ~. ~$ .'r..../...., i~~~lq - "".'.''1 ~:' I ~;. ~.'... ~.....' :". :~,.~ 9:':.;,1" ''\ ,f.J., .t.;. '..; ~~" JJ Ii' :i-'~ ;" ~j" ;:~ ~,!;"~ ':~(,,:;';;...1~ ~ :~'t ~i.; -:1 . ...~.i.'~J. :..:;.t!.\..~...~...J '''''''", r.:~~-:.. .~ t't ,,~':,./ f(~l; i..~ ,!;.: .. .... . '~,f~~ @J~ '~ll.:'i::!~~~ . ijI'" '.- ~ .,;~a,~>:~ .,:~.~;;. , - .'Jf,;.'f.,", .........; """':'1"'0) :;' i ) 'j '.1 iI il ::1 ''.l ;~ ;:~ '1 ':-~ 'i ..~.~i :~j ..1 . :....J1 j~ ':J .," .'.:1 '1 "..1. f .~ "'l j ..:. . .;; ., ., , . l ...., .. __... ......."1':..,___ . ~ .. - f,- CITY COMMISSION MEETING August 21, 1950 Ordinance 594, cont'd . " . ;...' I'" . "J, ~ .;." :.-..., . .. . , .1'<:';:"1,.,1 "'.:-' .... ,.\..'." I, ~fl;,~lf~Ji . : ;:.,;;:.::;,:{/,/,:it,..,. bPi Interest to date of ~demption, plus a premium or three pa~ oent (3%) of the par value thereof if redeemed on or before July l~ 1959; or Q premium of two per oent (2%) of the par value thereof if redeemed thereafter but on or before July], 1961; or a premium of one ,er oent (J.~) of the par value thereof if redeemed thereafter but on or before July 1, 1963, and without premium it redeemed there- after; provided that a notioe of suoh intended redemption shall have been pub- lishAd by the City at least once at least thirty days p~ior to ~o date of redemption in a financial paper pub11s1wd in the City of New York, Hew York, and provided further tl1El t if less than all of sa id Certi!'loQ tea sub ject to re- demption are so oalled for redemption, the notioe of redemption shall state the indentifyinr, llumbers of the Certifioates' to be redeemed.. Said Certificates shall be issued in ooupon form, shall be payable with respect to both principal and intorest in lawful money of the United StAtes of Amerioa, at the principal office of the Chemioal Bank & Trust Company, New York City, New York, and sI~ll bear interest from their date, payable in aooordanoe with and upon surrender of the appurtenant interest coupons as they severall,. ma ture . . . .',"' t I . 6. EXECUTION Olil CERTIPICATES AND COUl)OlTS. Said Certi1'icates aha]'l be exeouted in the name of the City by its City Auditor and Clerk Illnd its City Mari- aRe r, and countersigned by its lilayor-Commis sioner and shall have impre saed the re- on the corporate seal o~ the City. In oaS6 anyone or more of the orficers wno shall have si~ned or sealed any of the Certificates shall oease to be, suoh offioer of the City before the Certificatea so signed and sealed sl~ll have been Qctually sold and delivered, such Certificates may neverthe1ess be sold and delivered as herein provided and may be issued as if the person who signed or sealed such Certifica tes had not cea sed to hold such office. Any Certi~icates maY' be signed and sealed on behalf of the City by suoh parson as at the actual time of the execution of such Certificates shall hold the proper offioe in the City~ although at the date of such Certificates such person may not have held such office or nay" not have been so authorized. The Coupons to be attached to the Certificates shall be authenticated with the fac s'imile signatures of the Pl"esent or any future C1 ty Audit or and Clerk, City Manager and ~~yor-Commissioner o~ said City and the City may adopt and use tor the purpose the fac simile signature of any or said persons who shall have held such offices at any time on or after the date of the Certificates, not- withstanding that he may have ceased to hold suoh office at the time when said Certificates shall be actually sold and delivered. 7. :NEGOTIABILITY AND REGISTRATION. The Certificates sh.a.11 be, and have all. of the qualities and incidents of, negotiable instruments under the law merchant and the Negotiable Instruments law of the State of Florida, and each successive holder, in accepting any of said Certificates or the coupons appertaining thereto, sh.a.l] be conclusively deemed to have agreed tha t such Certificates shall be and have all of the qualities and incidents of negotiable instruments under the law merchant and the Negotiable Instruments Law of the State of Florida, and ea.ch successive holder shall f'urther be conclusively deemed to have agreed that said CertIficates shall be :J.ncontestable in the hands of & bona fide holder for va~ue in the manner provided hereinafter in the form of said Certificates. The Certificates may be registered at the option of the holder as to principal only at the office of the City Auditor and Clerk of the City, such registration to be noted on the back of said Certificates in tlw space provide~ therefor. After such registration no transfer of the Certificates shall be valid un1ess' made at said offioe by the registered owner, or by his duly authorized agent or representative and similarly noted on the Certif1cateB~ but ~le Certi- ficates may be discharged from registration by being in like ~nner transferred to bearer and thereupon trans-ferability by deli very shall be restored.. At the option of the holder the Certificates may thereafter again 1'rom time to time be regis- tered or transferred to bearer as before. Such registration aa to pr~ncipa1 onlj shall not affect the negotiability of the coupons which shall continue to pass by delivery. 8. CERTIFICATES MUTIIATED, DESTROYED, STOLEN OR LOST.. In CQlse any Certi- ficate shall become mutilated or be destroyed, stolen or lost. the Ci~y may in its discretion issue and deliver a new Certifioate with all unmatured coupons attached of like tenor as the Certificate and attached coupons, if any, so muti- lated, destroyed, stolen or lost, in exchange and substitution ~or such muti- lated Certificate~ upon surrender and cancellation of such mutilated Certifioate and atta~hed coupons, if any, or in lieu of and substitution for the Certi~icate and attached coupons, if any, destroyed, stolen or lost~ and upon the holder furnishing the City proof of his ownership thereof and satia~aotory indemnity and complying with such other reasonable regulations and conditions as the City may pre9Q~1be and P&i1ng such expenses as the City may inour. All Certificates and eoupons so surrendered shall be cancelled by the City Auditor and Clerk and held for the account of the City. If any such Certificate or coupon shall hav.e matured or be about to mature, instead of iSf~ing a substituted Certificate or coupon the City may pay the same~ upon being indemnified as Qforesaid~ and if euch Certifioate or coupon be lost, stolen or destroyed, without sUX"l'ender there'o.c. Any such duplicate Certificates and coupons issued pursuant to this seo- tion sha12 constitute original, additior~l oontractual obligations on the part o~ the City~ whether or not the lost, stolen or destroyed Certificates or coupons be at any time found by anyone, and such duplicate Certificates and coupons shal.l be entitled to aqual &nd proportionate benefits and rights as to 11en and souroe and seourity .foX' pa'3'Il1ent from the Revenues! of the Pl~ojecij with all other Certificate 11 and coupons issued. hereunder r .. I:, ,.\< :'....,.. ':.1. .~'. >,' ~:. " . ;....1 . ','. "'..."'." i~~./.).:,{;.[f~:;;;;;~~:' . ~'rj,:::::tI';?';::' ; ~@:i;;;~i(~, ; ~'~~;.!}f;i[%;t:; i ~:"J.'}';-:!;:'{20~}(' ; I{r:tf{~~~;(~:~ ~.,.:'"...,! .,.' I t,I,.':~~~~~~,\~'{~~/ . , I'....'~". t I c.'"." . v,.. , ~\ilr.: ~.l;r~~: ':'~' ;;iitr"""TI , 't:~:;:.;~;' 'f;~; \.;: 9. FORM OF CERTIFICATES AND COUPONS. The text of the Oertificates ooupons and provisions tor registration shall be of substantially the following tenor, with such om1ss1on~~ insertions and variations as may be neoessary and desirable and ..~l h (d< ........4.('....\ .......J.':.( ..; " r. ':'1'" "'1\":' ......... ~.., ~".,;......, ,""..:.^' '.1 ":. ,.': .,' ,"" \" ..'~ ". ~.-. <~ ~..'~' "ft"' _'. ;, , .,". ""..,.;:;~}'L,:'.:[::'~;t}!;(~~~;::':'~;;'I:~;::~:;;\~d:;;:i.if:J~Jt{f~j~;,;~,~li~t':'\"";':~;'!",l~:,l." ~::,'.,,:,,:' "', 6c~ ~.".;"~,,,.\ , ,....' ';-;. .. , . ~ '.: I . - :t)- OITY COMMISSION MEETING August 21, 1950 Ordinance 594, Oontld , . \ " .., .. ~ I: authorized or permitted by this Ordinance, or anY' subsequent ordinanoe or reso- lution adopted prior to the isnuanoe thoraof: " ,":' ",' '" , . ..' .. ..... . ,'" .":' I,: ,\'.~ .' . ". . . . . :'. , No. UNITED STATES OF AMERICA STA TE OF It'LORIDA CITY OF CLEARWATER COMMER.CIAL AND YACHT BASIN REVElroE OERTIFICATE $l~OOO :~~ J'"J.,"] ".,......-. \ ., , . ", I '~ .. "--. .." 1 .._, '. \ 1 KNOW ALL MEN BY THRSE PRESENTS that the City of Clearwater, in Finellas County, Florida, for value reoeived, hereby promises to pay to the bearer, or ir this Oertificate be re~istered, to the re~istered holder as herein provided, on the first day of July, 19 , from the revenues and speoial funds hereinafter men- tioned, the prinoipal sum of ONE THOUSAND DOllARS ($1,000) with interest thereon at the ~te of three and one-quarter per centum <3i%> per ann\.Ut1, payable sem1-annually on the 1st day of January and the 1st day ot July or each year upon the presentation and surrender of the annexed ooupons as they severally ~al1 due. Both principal of and intorest on this Certificate are pay- able in lawful money of the United states of Amerio~ at the principal offioe of the Chemical Bank & Trust Oanpany, in the City o~ New York, stat~ 01' New York. This Certificate is one of an authorized issue of OertirIoates in the aggregate prinoipa1 amount of $115,000 of like date, tenor and effect, except as to number and date of maturity, issued to rinanoe the cost of the oonstruction, improvement and equipment of commercial &nd yacht baain facilities in the Cit7 or 01earwater, under the authorIty of and in full oomp1iance with the Constitution and Statutes of the state or Florida, the Oharter of the City of Clearwater, being Chapter 9?10, Special Aots of the Legislature of ~~orida for the year 1923~ a~ amended and supplemented, and other applioable statutes, and an Ordinanoe du17 adopted by the City Commission of said City on August~ 1950~ and is Bubject to all the te~s and conditions of said Ordinance. I I I I. I , \ \ , j \ j I I I , J ! I 1 I I I l t 1 .1 1 'I , .'. I This Certifioate and the coupons appertaining hereto are payable solely from and secured by a lien upon and pledge of the net revenues derived from the oper- ation of the Projeot desoribed in the Ordinance authorizing this issue of Oerti- ficates in the manner provided in said Ordinance and does not constitute an in- debtedness of the City of Olearwater within the meaning of allY constitutiona.:L, statutory or charter provisions or limitp-tion, and it is expressly agreed by the holders of this Certifioate and the coupons appertaining hereto that such holders shall never have the right to require or campel the exercise of the ad valorem tax- ing power of said City, or the taxation of real estate in said City, for the pay- ment of the principal of and interest on this Certificate or the making of any sinking fund, reserve or other payments provided for in the Ordinanoe authorizing this issue of Oertifioatea~ It is further agreed between tr~ City of Clearwater and the holder of this Certificate that 'this Certificate and the obligation evidenced thereby shall not oonstitute a lien upon the aforesaid Project, or any part thereof. or on an~ other property of or in the City of Clearwater, but shall constitute a lien only on the net reV$nues derived from the operation of said Project in the manner pro- vided in said Ordinance. The City in sald Ordinanoe has covenanted and agreed with the holders of the Certificates of this issue to fix and establish and maintain such rates and oo11eofr ouch feea, rentals or other charges for said Proj~ct and each and every part there- ot and to revise the same from time to time whenever necessary (subjeot to the provisions of any C\ontracts with lessees or licensees of such Project, or any part thereof,) as will always provide revenues sufficient to pay_ and mlt of said reve- nues shall IXlY, as the same shall become due, the pri:ncipal of and interest on the Certifioates or this issue, in addition to paying, as ~e same shall became due~ the neoessary expenses of operating and maintaining said Project, all re- serve or sinking funds, or other !,....ymants provided for 1n said Ordinanoe, and all other obligations payable out of the revenues of said Projeot ana that suoh rates, fees, rentals or other charges shall not be I'educed so a s to be insuffioient to provide revenuss for such purposes, and said City has entered into certain fur- ther oovenants with the holders of the Certificates of this issue for the terms of which reference is made to said Ordinance. The Certifioates maturing in the yea.rs 1952 to 1956~ inclusive, are not re- deemable prior to maturity. The Certificates maturing in the y~ars 1957 to 1965, 1no1usivG~ arA redeemable prior to maturity. at the opti~n of the City on July 1, 1956, or on any interest payment date thereafter prior to maturity, as a who~e or in part, in inverse numerical order, at a redemption price of par and aocrued interest to date of redemptfon, plus a premium of three per cent (3%) of the Pkr value thereof if redeemed on or before July 1, 1959; or a premium of two per cent (2%) of the par value thereof if redeemed thereafter but on or before July 1, 1961; or Q premium of one per cent (1%) of the par value thereof if redeemed thereafter but on or before July 1, 1963; and without premium if redeemed there- atter; provided that a notioe of suoh redemption ahall hnve been published at least onoe at least thirty days prior to the date of redemption in a financial paper published in New York City. New York. It is herebr certiried and reoited that all aots, conditions and things re- quired to 0xist. to.happen and to be performed preoedent to and in the issuanoe of this Cert1fieate" eY..istJ have happened and have been perf'ormed in regular &ll1d due form and time &8 required by the statutes and Constitution of the State or Florida applicable thereto, and that the iss'Ll..J.nce of this Certifioate, and of the issue of Certifioates of Which this Oertifioate is one, does not viol&te an, oODst1tation&1, statutory or charter limitation. ..... ...___1# ...:"....: . ; " ~ \ . : .. , " '..... , ~. ""...(. '. ,:. .~, . ,J~;'~;:6~~~~;~~i~nK~';""'~" .. 'p . ." ,~,""',.~_1..;....',i1'~~" -/;- OITY CO~1IBSION MEETING August 21. 1950 Ordinance 594, Cont'd. Th1s Certifioate. and the ooupons appel'taining thereto, 1s. and has .,11 the qualities and incidents of~ a negotiable instrument under the law m9rohant and the Negot',able Inotrumonts IA1f of the state of Florida, and the original holder and eaoh successive holder of this Certifioate, or of the coupons appertaining thereto, shall be oonolusively dee~ed by his acceptance thereot to have agreed that this Certif1cate and the coupons appertaining thereto shall be and have all the qualities and inoidents of negotiabl~ instruments under the law merohant and the Negotiable Instruments Law of tho state of Florida. The original holder and eaoh suocessive holder of' this Certificate, and of the coupons appertaining her0- to, shall be conoluaively deemed to have agreed and oonsented to ~e follow1ng terms and conditions: City Auditor and C1erk ~ ..j-~ 1" !f~~;~;}1~f~t · ,. . "'Oi';;:,;' : ~ ~ '. I" :: . ;' ~ '. \ < 'J . \ !' , ' '\, '. , .., ~ ~ . r . , ! I r ' I' I; r \; I" ~, , '::'--'<"/"1 \' . ~'. ~ ' , ," :',',:,',,',~~ ," "~"~ J ,>::,', ' :! ~~<:,~l~ /.1 ,. '" .' ~ " ,::~~ ,. !'J ') (a) Title to this Certifioate, unless registered as herein prov1ded~ an~ to the annexed interest coupons, may be tranB~erred by delivery in the manner provided for ne~otiable instruments payable to bearer in the law merohant and the 'Negotiable Instruments l&w of the state of' ]llorida. (b) Any person in possession 0 r this Cert i1'1ca te, unlesa reF\i8tered a 8 herein provided, or of the j,ntereat coupons hereunto appertaining, regardless: or the lllanner in which he shall have acquired possession, is hereby QJuthorized to represent hhlself as the absolute owner hereof, and is hereby granted power to transfer absolute title hereto by delivery hereof' to a bona fide purchaser, that iB~ to anyone who shall purcr..8se the same for value (present or antecedent) w1t:h- out notioe of prior defenses or equities or claima of ownership ~nroroeable against his transferror; evory prior taker or owner of this Cert1ficate, unleau registered as herein provided~ and of the annexed interest coupons, waives' a~d ' renounoes all of his equities and rights herein in favor of every such bona f'ide purohase~ and every such bona fide purchaser shall acquire absolute ti tle hereto snd to all rights represented hereby; and (0) The Oity of Clearwater may treat tl~ bearer of this Certif1cate, un- less' registered as herein provided~ or of the interest coupons hereunto appeJl'- ta1ning, as the absolute owner hereof for all purposes without being affeoted by any notice to the c ant I'a ry . Thin Certificate may be registered as to principal only in accordance with the provisions endorsed horeon. ,,'.'j ,. ," .'. IN WITNESS WUEREO!<' said City of Clearwater, !i'lorida, has iSlSued this' Certi- fioate and haa caused the sanle to be signed by its City Auditor and Cl.erk and its City ~ranager~ countersigned by :1.ts Mayor-Commissioner and its corporate sea.] to be affixad hereto and has caused the interest coupons hereto attaohed to be executed with the i'ao simile signa tures of' a 11 of said of'ficers" all as 01' thEil first day of JUly, 1950. CITi' OF CLFARWATER, FLORIDA BY (SEAL) BY City Manager Counters:J.gned: Mayor-Camnisaioner (l"ORM O!1' COUPON) l~o. $ On the day of ~19 , (unless the Certifioate to whioh th1s ooupon 1s attached shal1 have been duly called for redemption and provision for the payment of the redemption price duly mado) the City of Qlearwater~ Florida, .,,111 pay to the bearer a t the princ1ral offioe of the Chemical l3a!nk & Trust Canpany, in the City of New York~ State of New York~ from the revenues and speoial funds described 1n 'the Certif'icate to which this coupon is attached, the SWlll of Sixteen and 25/100 Dollars ($16.25), in lawful money of the United States of America upon presentation and surrender of this coupon, baing six months interest then due on its Commercial and Y&cht Basin Revenue Certificate, dated July 1, 1950, No. CITY OF CLEA.RWA.TER~ FLORIDA BY ----cIty Auditor and Clerk BY Oi t'1 Mamger Countersigned: Mayor-Commissioner ,,~-- ;;..' . '.:~~\...)r{. ;~:,,:;;~;':}~\,~{i~..,.{. '.:.':'/" .;,)..~..:. ," .... '" , . '",-, .~ .,' :?;, "":'.1 , ~ 1 ..~~ ';,.:~._' :.) j '-;:'. '~'" . ""..~...iilo" 1 J j I [1 .':::-.:.: ," .i . ;', '. ~ !:' " '. ...... '. ..~~f., ,- :.t ,.~,1 . ~ '.: \'. .', . .... ',- ....,. ,- " ,.1:." ",: -/,2 - CITY COMMISSIon MEETn~G August 2J:, 1950 . Ordinanoe 594, oonttd (Fared OF VALIDATION CERTIFICATE) Validated and confirmed by decr~~ o~ tho Cireuit Court of tha Si~th JUdio~~l Cirouit of Florida, in and for Plnellas County, rendered on the day or , 1950. Clerk of the Cirouit Oourt o~ Pinellas County, PLoriaa (PROVISION FOR REGISTRATION) This Certificate may be registered as to prinoipal only in tae name of the holder on the books to be kept by the City Auditor and Clerk as Registrar, or such other Registrar as may hereafter be duly appointed, sucn rogistration being noted hereon by such Registrar in the registration blank below, arter which no transfer shall be valid unless made on said books by the .registered holder or attorner duly authorized and similarl~ noted in the registration blank below, but it may be discharged from registration by being transferred to bearer, after which it shall be transferable by delivery, but it may be ag~in registered as before. The registration of this Certifioate as to principal shall not restrain the negotiability of the ooupons by delivery merely. DATE OF REGISTRATION IN WHOSE NAJIE REGISTERED SIGNA.TURE OF REGISTRAR ARTICLE III COVENANTS, REVENUES AND APPLICATION THEREOF. 10. CERTIFIOATES NOT TO BE INDEBTEDNESS OF THE CITY. Neither the Oe:-t:1- ficates nor coupons shall be or constitute an indebtedness of the City, but shall be payable solely from the Revenues of the Project, and other special funds, as herein prov1ded~ No holder or holders of any Certificates iSBued hereunder, or of any coupon appertaining thereto, shall ever have the right to campe1 the exercise of the ad valorem taxing power of the City, or taxation in arry form ot any real property therein, to pay said Certificates or the interest thereon, or to be entitled to payment of such principal and interest from any other funds of the City except the net Revenuea of said Project, as provided herein. 11. CERTIFIOATES SECURED BY PLEDGE OF REVEllUES AND SPECIAL FUIIDS. The pa,.- m~nt of the debt service of all of' the Certificates issued hereunder shall be secured forthwith equally and ratably by a lien on the net Revenues der~ved ~rom said Project. The net Revenues derived from said Project in an amount sufricient to pay the principal of &nd interest on the Certificates herein authorized, and to maka the payments into the reserve and sinking fUnds and all other payments provided for in this Ordinance, are he~eby irrevocably pledged to the payment of the principal of and interest on the Certificates herein author~zed as the same bee ome due. 12. APPLICATION OF CERTIFIOATE PROCEEDS. All moneys rece:1ved ~ram the sale of any or all of the $115,000 Cert:1f'ica tea; oI"iginally authorized and issued pursuant to this Ordinance shall be deposited by the City in a special account, and shall only be used for, and appl:1ed by the City solely to, the payment of the cost of the oonstruction and equipment of said Cammercial and Yaoht Bas:1n ~ol~- itles and other purposes provided in this Ordinance, and for no other purpose whatsoever. If for any reason any portion of such prooeeds of sale of the Certi- ficates are not necessary for, or are not to be applied to, the aforesaid pur- poses, then such unapplied proceeds shall be deposited by the C:1ty in the Reserve Account in the Sinking Fund to be established pursuant to subsection D of Section 13 of this Ordinance and shall be used for the purpose s 0 f this Ordinanoe pro- viding for moneys in said Reserve Acoount. All such proceeds sbal1 be and con- stitute a trust fund for such purposes and ~ere is hereby created a lien upon such money ~ until so applied, 1n :fa VOl' of the holders of the Certtf'ioa telr.. MoneyS! dep~sited in the special account pursuant to this section 12. may, pending their use in the manner in this Ordinance provided, be temporar1li'y' :tnve ated in d:1rect obligations of thB United states of America maturing not later than etx (6) montha from the date of purc~~se or must otherwise be maintained 1n oash. 13. aOVENANrS OF TIlE CITY. So long as any of the Certit'ic&tsa shall be out- standing and unpe.id, or until there shall have been Bet apart in the Sinking Fu.nd herein established a sum su1'ri~ient to pay. wh~n du.es the entire principal ot the Certlf'ioates remaining unpaid. together with interest acorued. and to aocrue thereonSl the Oit,' oovenants with 'the holders of any and all of' 'th.e O~rtit1oa tea issued pul'auant to this Ordinance as f'ollows I .. RATES: That the olt)' will fix,. establish ani mintaln suoh raten and "COot _,,,....i_~. .~~f~ ". ~~'!~( ,.f!' " ..c,' "'. ". {~~~.:r.~=f.~'... ~ .'f"t- J'{/t':':r. ".,r~"",,' t1F~I~p~~ ~ "J i. ' '. f : .',,'1" . . " .'. .r? - f: : r. r. ( I, . ,. \ ( t. ~ . k ,; "/~~<:\::';'. ..... : , I:., _,: ..~~', :.:' 'J7"':.:~>;"." .;... :~.!...,,: '. ,~~,~~~'.,,~ . . r{{~':;!;i':1'~~;~;'~~('::~;;' .', , \ ~;~:~~~~';-;'~f/; , r?t ~::irf51:~:' t. . IJ, .~... ....x~, <,.. L~f}!.it;i; 'l':\;;.;:.'.- ~T .,. .~<~ (;~;';;,!i[4&Sf;R.;i~:iJ"~",=:,,,':,,,,, · '. '. "<J~.,~j,.:."i'" '1 ,)' . .,"j' t"'(; y.n ..I.or :. ""_.~\'.! I~".o:" rk~i:l~,(.. ;"ti~1~j~i.r <, . 1 .j 'j ::{J J ..~....\. ~~.. ~ i ' i l 1 j I , t i J ~ ~ 'I oj i " ~ :~ 1 ! :~ i'- 't',. . ,~ A . '"'. J >':;\ . :,' ~ ", : "." , '.1 :~ ':1", --13- OlTY COMMISSION MEEl'ING August 2~, 1950 . ,',_' ,_ ,', : ,. "'~,: ',' ,C,,: :0;': ;"~;",!,';~~:i,,,i;t!:,/,:2::\"~:::X~~i)i:~:~t;.&~~i;JS~bL\':~~ti~~iW~:f.~~!~;2,/;~:;:~;:~:~;~,.:':~t;' &tl5" . ", ~:~;/:'1: . l'-~:'j',.!,' , 4'1,1''''''l t. . ~l;j/i,*,,;d l~:w\~i~~~$~~\; O~inance 594, oont'd collect such feee, renta1s or other oharges for the servioes and facilities of said Project (subject to the ter.ms of any valid leases or licenses then in toroe), and revise same from time to time whenever neoessary, as will aJ.ways provide Revenues sufficient to pay, in the manner apAoified in S~~vlon 13 of this Or- d1nanoe~ and out of said Revenues shall pay~ a8 t~ same shall become due, the principal of p.:id interest on the Certificates, In addition to paying~ as the same shall become due. the neoeosary expenses of operating and maintaining such Projeot, a~l reserve or sinking funds or other payments provided for in this Ordinance, and all other obligations or indebtedness payable out of the Revenues of suoh Projeot, and that suoh rates, f'ees, rentals and other charges' shall not be reduoed 80 as to be inauf'ficient to provide Revenues for suoh purposes. B. REVENUE l~. Tlmt the entire gross, Revenues derived from th6 opera- tion of said Projeot aha1l be deposited in a speoial fund in a bank or trust company which is a member of the Fede~l ReBerve System, which fund is hereb7 designated as the "CoIl1Il1erc1al and Yacht Basin Revenue ~Undltl (herGin called "'Revenue Fund"). Said Revenue li\md shall constitute a trust fund f'or the pur- posea prov1ded in this Ordinance and shall De kept separate and distinct t~an a1l other funds of the City and used only for the purposes and in tl~a manner pro- vided in subsection D of this Seotion 13. i " ,- j, ' t' . . " .... I i. t { ~ . r t I ! f f~;:~~i~i;. '. I-'V""" "~J- ~ , ;.:~.\<:!. ,. c. OPERATIOn AND MAI:NTENANCE. That it will maintain in good oondition said Project and will operate the same either directly or throur~ lessees or licensees' in an efficient and eoonomical manner6 making suoh expenditure f'or equipment and for renewa1, repair and replaoements as may be necessary for the economical operation and maintenance thereof from the Revenue ~und. D. DISPOSITION OF REVENUES. That all Revenues at any t1Ine remaining on deposit in the Revenue Fund shall be disposed of in the following manner ~nd order of priorit,.: (1) Revenues shall first be used for the payment of all ourrent Operating Expenses or the Projeot as herein def1n6d~ to the extent that the same ara not paid by lessees or licensees. (2) Thereafter from the moneys remaining in the Revenue Fund, the City aha11 not later than the first day of' June and the first day of December in each year apportion and set a part out of the said Revenue ~und and deposit 1n a fund to be known as the "Conunercial and Yacht Basin Revenue Certifioate Sinking Fundn (herein called "Sinking Fund"), which is hereby oreated and established such sums as will be sufficient to pay one-half of all the principal and interest on the Certifioates issued hereunder which shall mature and become due within such fiscal year. T}~ City shall also from the Revenue Fund deposit in a Reserve Account in said Sinking FUnd on the first da7 of June and the first day of December of each year an amount equa1 to twenty-five per oent (25~) of all a~ount~ reqllired to be paid for maturing principal and interest into said Sinking }und~ as provided in the above paragraph, on said dates; provided, however, that no further pay_ ments aha11 be required to be made into said Reserve Account when there ahal1 have been deposited therein, and as long as there shall remain therein, an amount equal to the maximum aggregate amount of the principal of and interest on the Certificates which mature in anyone succeeding calendar year. Moneys in the Reserve Account shall be used only for the purpose of the pay~ ment of maturing principal or or interest on the Certl~icates when the other moneys in the Sinking Fund are insufficient thereror, and for no other purpose. In the event any withdrawals are made from said Reserve Aocount, such with- drawalD shall be restored to said Reserve Account from the first availe. ble Revenues which are aW.1lable after a 11 payments have been made :for maturing prin- cipa~ of and interest on the Certificates. The City shall not be requil'ed to make any further payments into said Sinking ~und or into the Reserve Account in said Sinking Fund when the aggregate amount of funds in both said Sinking Fund and said Reserve &coount are ~t least 6qual to the aggregate principa1 amount of Certificates issued pursuant to this Ordinance therl outstanding, plus tile amount of interest then due or thereafter to become due on said Certj..f'ioa tes then outstanding. (3) Thereafter from the moneys remaining in the Revenue Fund, the City shall establish and set up a Renewal and Replacement l~nd and slm11 pay annually into said fund frOlll the Revenue fund on the f'irst day of June of each year an amount equal to three per oentum (3%) or the Revenues actually received and col- lected from the operation of the Project d~ring the preceding twelve (12) month period. The moneys in such Renewal and Replacement Fund sl~11 be used only for tho purpose of paying the cost of extension3~ ~proveroents or additions to, or the replacement of' capita1 assets of~ said Project, or any ~rt thereo~. (4) If on any semi-annual payment dste the Revenues, tog6ther with othe~ available ~unds, are insufficient to place the required ~ount in any of the ~lnd8 as hereinbefore provided, the deficienoy sha1l be made tlp in the subsequent pay_ ments in addition to the payments which would otherwise be required to 'be made into the Funds or the 8ubsequent payment dates. (5) 'l'hereafter~ the ba1ance of any' Revenues rems 1n:tng after all other re- quired payments into the funds provided above have been maue~ maT be used by the City ~n ~ny manner required or permitted by law. OK :t~..~. .... \' 'f.S~ '.';ll'-~:"" > ,:-:. ~ :; ';' ,i,- /. :"~:':"'r'.":::.:(...: .:.. ~~ . .... .......-..J~_._. _...~. " ~~{.;j{ljfjj;+!: {Lt~;f;;~~;~~~,'~~_,:,~:..,; ::,~ '. :::" .::, Q ,i ~ ~ I. ~ '~ "',--' I ~1 ~ ,I i~ II ,~i: , 1 "1:1 ".' " ", :~ ,:1 ',"!J ;1 , , .'" "," ~",,"""~',,",C";'C"0;'"d;Z';~rfik~l' ~..., .,' I ::':', \, I, i I l t. t I t - i ~ - I - I '/"" .":". .. .-' / tf ~ CITY Cm~lISSION MEETING August 21, 1950 Ordinance 594, Cont' d. (6) The Revenue Fund" Sinking It'und and Reserve Aocount therein, and the Renewal. and Replacement Fund, and all other spocial f"undB set up and created b,. this Ordinance shall oonstitute trust funds' for the purpose provided herein for such funds, and shall be deposited and maintained in a national bank or trust company 1n the City of Clearwater, Florida. All of auch funds shall be oon- tinuoualy secured in the same manner as State and nlUnicipal deposits of funds are required to be secured hy the laws of the State of Florida; provided~ how- ever, tr~t tho obligations securing such funds a}~ll be at all t~es at lea3t equal in market value to the amount of money 1n said funds. The moneys 1n the Reserve Acoount in the Sinking Fund and in the Renewal and Replacement Fund may bo invested by the City in dir~ct Obligations of the United States of Amer1o~ or must otherwise be maintained in oash. Eo SALE Ol~ PROJECT. That said Project, or an~' part thereof, may be sold.. mortgaged or otherwise dispOSed or only if the net proceeds to be realized ahall be sufficient fully to retire all of the Certifioates issued pursuant to this Ordinance and all interest thereon to their respeotive datos of maturity or earlier redemption date. The prooeeds fram such sale, mortgage, or other dis- position of said Project shall immediately be deposited in the Sinking Fund and shall be used only for the purpose of paying the p~inoipal of and intareat on the Certifioates issued pursuant to this Ordinance as the same shall beoome due, or the redemption of callable Certificates at a prioe not greater than the re- demption price thereof. After all of such principal and interest shall have been duly paid and retired any balance remaining 1n said fund shall be remitted to the City. The leasing or licensing of said be deemed to be a sale or disposition ceives reasonable and fair rentals or the same are payable into the Revenue Project, or of parts thereof, shall not of such ProjeJt as long as the City re- income under such leases' and licenses and Fund. F. ISSUANCE O}' OTHER OBLIGATIONS PAYABLE OUT OP REVEnUES. That the City will not issue any other obligations, except upon the conditions and in the manner provided herein, payable from the Revenues derived rrom the operation of said Project, nor voluntarily create or oause to be created any debt, lien. pledge, assignment, encumbrance or any other charge, having priority to or being on a parity with the lien of the Certificates issued pursuant to this Ordinance and the interest thereon, upon any of the Revenuea of said Projeot pledged as security therefor in this Ordinance. Any other obligations issued by the City in addition to the Certificates authorized by this Ordinance sha]'l contain an express, state- ment that such obligations are junior and subordinate in all respecta to the Certi- ficates issued pursuant to this Ordinance as to lien and source and security for payment fram the Revenues of said Project. G. INSURANCE. That the City wil~ oa~ry. or cause to be carried for its benefit. such insurance, and in such amounts, as is ordinarily oarried by pri- vate corporations owning and operating similar improvements and facilities in the area with reputable insurance carriers against loss or damage to the Project, and said property loss or damage insurance shall at all times be in an amount or amounts equal to the rair appraisal ~~lue of the buildings, propert1~s, facil- ities, improvements, furniture, fixtures and equipment of said Project. In time of' war. the City shall also carry in said amount such insurance as may be avail- able against loss or damage by the risks and haza~~ of war. H. BOOKS ~ RECORDS AND INSPECTION. That the C1 ty will keep books and recoMs of said Project which shall be separate and apart from all other books, recorda and accounts of the City, in which oomplete and correct entries shall be made in acoo~dance with standard prinCiples of accounting of all transactions relating to said Project, and any holder of a Certificate or Certificates issued purs.uant to this Ordinance shall have the right at all x'easonable times to inspect said Project and all parts thereof, and all records, accounts and data of the City re- lating thereto. The City shall, at the end of each fiscal year, cause the books, records and accounts of' said Project to be properly audited by an independent certified public accountant of r~cognized standing and shall, upon request, make available within 90 days after the end of ~ach such year, the report of said auditor at all reason- able times to any holder or holders of Certificates issued pursuant to this Ordinance. Promptly after the receipt of such audit report a copy thereof shall be mailed by the City to any Certificateholder who aha11 have filed his address with the City and requested 1n ~'iting that CCpi5S of such reports be fUrni~hed him. I. CONSTRUCTION AND MAINTENANCE OF COMMERCIAL AND YACHT BASIN FACILITIES. That the City will complete the construction, improvement and equipment of Com- mercial and Yacht Basin Faoilities provided for in this Ordinance with all prac- ticab1e dispatch, and will maintain said Project in good condition and continuously operate the same in an efficient manner. and at a reasonable coat. J. SERVICES RENDERED TO THE CITY. That the City will not render or oause to be rendered any free servioes or faoilities of any nature by s&1d Project, nor allow any use or occupation thereof without reasonable charge therefore, nor ,,111 any p~f9rential rates be Gstabliahed for users of the same olass; and in the event the Clty~ or any department, agency_ instrumentality, officer or ~ployae t~ereor, ahall avail itself or themselves of and use such Project, or any part thereot, or oocupy said Project. or any part thareor, tho same rates. rentals, tee~ or oharges applioable to other parties using like facilities under sim1lar cir- cumstances shall be chftrged the City and an1 sucb department, agency, 1nstru- menta1it1~ officer or employeo and a11 such rates, rentals, fees or charges shall be reasonable. The City shall require any lessee or l1censee to obsorve a.nd anfor(je ,.,' " ", ,;':' ~ .'. '..' ",:-.:,,>~,: , """\ . ~~ t',:': ';, ~. " ',.1", "":";;.:\:'" \ " ;'.'.' I" .. I t I ,. . ' "f~~.~~~~tr:{.;, ~..~--- ..- --. ;.I: , .." ~- -, , J:: ~.' . , -...1': , " .;,~'... ~. > . .~:, " ,): '. '.. . :1 '~ >j ''--~ ,..~ J 1 '.' J 1 1 J J j "jl " 'j i :1 ,:1 ;'1 ,.I ..~'l' '. r 'J \;' i! .. , .;, "f ., ~ i .' 1 ~~.J , 'l ';f '\: , ,. 'j:, :f -/5'~ CITY COAmISSION MEETING August 21, 1950 ... .'. ',. _' . .... ..', ."..~,... .... :.~..,.,-" c- ...,~~~,~'."..i~~.:::'~.~',;,;, ";"~'~~i';'~.: .~,.~; t~ 7 t: ':,~;\<:ii:~~r ~. IX".';:2il~f ~"'..;,.,.>;,:.;;,:..,., !:,' !'...... H~\~',.:, i j..:.;../.:'>.\:\'t(.. f." ";.;,:: ' ( r ~ l :1 i, t .. f 'Ordinance 594, Cont'd. the provisions o~ this subseotion J. Suoh oharges shall be paid as theY' acorue, and the City sl~ll tranarer from its general fUnds suffioient sums to paY' suoh charges 0 The income so received shall be deemed to be RevenueB derived fram the operation of the Projeot. and ahall be deposited and aooounted for in the same manner as other Revenues derived fram the operation of the Project. K. OPERATING BUDGET. That ths City ~hall annually, at the same time and in the same manner tha t 1 t prepares its annua 1 munioi}:81 budget, prepare and adopt by resolution of ita governing body a detailod budget of the estimated ex- penditures for operation and rrwintenance of the Project during such succeeding fiscal year. No expenditures for the operation and maintenanoe of suoh frojeot ahall be rmde in any fiscal year j,n excess of the alnounts provided therefor in suoh budget without a written finding and recommendation bY' the general manager of such Project or other duly authorized officer in charge thereof, whioh find- ing and reoommendation ahall state in detail the purposo of and neoessity for suoh increased expenditt1re for the operation and maintenance of suoh Projeot, and no suoh increased expenditures shall be made until the governing body of said City shall have approved such finding and recommendation by a resolution duly adopted. No increased expenditures in excess of ten per oentum of the amounts providod for in such budget shall be made without the further certi1'ioate of an independent recognized consulting en~1neer that such increased expenditures are neoessary for the continued ope~tion and maintenanoe of said Projeot. The City shall mail oopies of such anroual bud~et and all resolutions authorizing increased expenditures for operation and nmintenanoe to any holder or holders of Certi- fioates who shall file his address with the City and request in writing that oopies of all suoh budgets and resolutions be furnished h~ or them, and shall make available suoh budgets and all resolutions atlthori~dng inoreased expendi- tures 1'01' operation and ma intenanoe of such Pro jeo tat a1.l t'easonable times to any holder or holders of Certifioates issued pursuant to this Ordinanoe, or any- one aoting for and in behalf of such Cert~fioateholder or Certificateholders. r , . ,: ~" :.': i,,".~. ',. '."'.'" ... '.~ "/ ,;. .:: ".: :'.~.: L. ISSUANCE OF ADDITIONAL OBLIGATIONS. That no additional obligations, as in this subseotion defined, payable pari-passu out of the Revenue Fund shall be orea ted or issued after the issuance o~ any Certifica tea pursuant to this' Or- dinance, except under the oondi tions and. in the manner herein provided. No such additional pari passu obligations shall be issued or created unless the ttnet earnings" of such Project during the preoeding twelve oonseoutive months shall equal at least one and one-half times the hip~eat ag~re~ate prinoipal and interest requirements for any sucoeedin~ twelve consecutive month period on a,11 Certifioates' theretofore issued and still outstanding under this Ordinance and on all suoh additional obligations to be issued, and unless the proceed$ derived from the sale of suoh additional obli~ations shall be used solely for the pur- pose of makin~ repaire, nnprovements, additions or extensions to the Projeot. '''Net earnings" as used in this subseotion L are hereby defined as Revenues less Operating Expenses. The ter.m "additional pari passu Obligations" as used in thi~ subsection L shall be deemed to mean additional obligations evidenoed by Certificates issued under the provisions and within the limit~tions of this Ordinance payable from the Revenue Fund pari passu with Certificates originally authorized and issued pursuant to this Ordinance. Such Certificates shall be deemed to have been issued pursuant to this Ordinance the same as the Certj.ficates originally authorized and issued pursuant to this O~inance, and all of the oovenants and other provisions of this Ordinance (exoept as to details of suoh Certifioates evidencing such additional obligations inconsistent therewith), shall be for the equal benefit, protection and security o~ the holders of any Certifioates ori~inally authorized and issued pursuant to ~is Ordinance and the holders of any Certificates eVidencing additional pari passu obligations subsequently oreated within the limitations of and in oompliance with this subsection L. All o~ suoh Certificates, regardless of the time or t:1rnes of their issuanoe, shall rank equally with respeot to their lien on the Revenues and their souroe~ and seourity ror payment from said Revenues without preferenoe of any Certificate, or ooupon, over any other. The term "additional pari passu obligations'" as used in this subseotion L sha11 not be deemed to include bonds, notes, certificates or other obligat:tonl!l subsequently issued, the lien or whtoh on the Revenues of such Projeot is sub- ject to the prior and superio~ lien on such Revenues of Certificates issued pur- suant to this Ordinanoe. and the City shall not issue any obligations whatsoever payable fram the Revenues of said Project which rank equally as to lien and source and security for payment from such Revenues with Certifioates issued pur- suant to this Ordinanoe except in the manner and under the oonditions provided in this subsection L. f~"""""'" ' , :I~~- ~:. .f ;n No additional obli~ations. as in this subseotion defined. shall be created at any time# however~ unless all of the payments into the respective .funds pro- vided for in this Ordinanoe on Certifioates then outstanding, and all other re- serve or sinkiI~ fUnds, or other paynlents provided for in this Ordinance shall have been made in full, and the City shall have fuJ.ly oomplied with all the cove- nant~, agreements and tems ot this Ordinanceo }1" RE:dEDIES. Any holder of Certificates or of any coupons pertaining there- to. iBsued under the prOVisions of this Ordinance, or any Trustee acting for such Certlf'icateholders. in the xmnner hereinaf'ter provided. may. either at law or in equit1. by suit, actlon~ mandam~B or other proceeding in any oourt of cmnpetent jurisdiction, protect and enforce any and all rights \mder the lava of the state of Flor1ga, or granted and oontained in this Ordinanoe, and may enforce and oampeJ. the ~arfor.mance ot all duties required by this Ordinanoe or by any app1icable , statutes to be performed by th.e City or by an'Y o~fioer thereof, including the f.1x- ing, obarging and oolleoting ~t rates. rentals, .1"eea, and charges tor said Project. subject to the prOViSions of' anT valid leases or licenses 0.1" said Projeot, or a~1 ,part thereof. "'., ._.__ ..t':l..."".... ~ 'l~,r ',:H, , , " .: .,.~ .. \ i, ;'~ -\'; , .~ .~~; " t. " '~f ~1:: .:'j . ;' ~! .~~: ,. ~:t ~- " :.~. ,} - '~'. ) :ll " ',','1:,' ~I' : ~ -i , ~..' .:,.. . ~1 ..., ",;";,"'~':;:S'C': ';'::,:~d i;,j,bdJ;~~;;~b::2::#:i.~~2~~3i~~~ti;~~; " .r'}:~~:~'~~~t~r: -It- OITY aOhrnISSION MEETING August 2l~ 1950 Ordinanoe 594~ Cont'd. In the event that de.fault aha~l be made in the Plymont of the interest on or the prinoipal o.f any o~ the Certificates issued pursuant to this Ordinanoe as the aame 8h1.11l beoome due, or in the making of the payments into any reserve or sinking fUnd or any other pay,ments required to be made by this Ordinanoe, or in the event that the City or any offioer, agent or employee thereof shall fail or refuse to oomply with the provi~ions of thic Ordinance. or shall default in any oovenant made herein, and in the further event that any suoh default shall oontinue for a period of thirty (30) days, any holder of such Certificates, or any Trustee appointed to represent Certifioateholders as hsreinafter provided, shall be entitled aa of ri~lt to the appointment of a reoeiver of such Projeot in an appropriate judicial proceeding in a court of competent jurisdiotion, whether or not such holder or Trustee is also seeking or sr~ll have sought to enforce any other right or exercise any other remedy 1n oonnection with Oerti- fioates issued pursuant to this Ordinanoe. The receiver so appointed shall .t'orthwitb, directly or by his agents and attorneys, enter into and upon and take possession of suoh Projeot and each an~ every part thereof, subject. however, to the rights of any lessees or licensees, and in the name of the City shall exercise all the right& and powers' of the City with respect to such Projeot as the City itself might do. Such receiver shall col~ect and reoeive all Revenues, maintain and operate suoh Project in the manner provided in this Ol~inanoe, and comply under the jurisdiction of the court appointing such receiver, with all or the provisions of this Ordinance. wnenever all that is due upon Certificates issued pursuant to thia Or- dinance, and interest thereon, and under any covenants of this Ordinance for reserve, sinking or other funds, and upon any other obligations and interest thereon, having a charge~ lien or encumbrance upon the Revenues of said Project shall have been paid and made good, and all defaults under the prOVisions of this Ordinanoe shall have been cured and made good, possession of such Project shall be surrendered to the City upon the entry of an order of the court to t~t effecte Upon any subsequent default, any holder of Certificates issued pur- suant to this ordinance or any Trustee appointed for Certificateholders as here- inafter provided, shall have the same right to secure the further appointment of a receiver upon any such subsequent default. Such receiver shall in the performance 01' the powers hereinabove oonferred upon him be under the direction and supervision of the court making such appoint- ~ent, shall at all times be subject to the orders and deorees of such court and nay be removed thereby and a successor receiver appointed in the discretion of such court. Nothing herein contained shall limit or restrict the jurisdiction of such court to enter such other and further orders and decrees' as such court may demn necessary or appropriate for the exercise by the receiver of any function speci~ically set ~orth herein. Any receiver appointed as provided herein sha11 hold and operate such Project in the name or the City and for the joint protection and bene~it of the City and holders of Certificates issued pursuant to this Ordinance. Such receiver shall have no power to sell, assign, mortgage or otherwise dispose or any assets of any kind or character belonging or pertaining to such Projeot but the authority of such receiver shall be limited to the posseSSion, operation and maintenance of such Froject, subject to the rights o~ any lessees or ~icensees, for the sole pur- pose of the protection of both the City and Certiflcateholders, and the curing and making good of any default under the proviSions of this Ordinance, and the title to and ownership of suoh Project shall remain in the City, and no court shall have any jurisdiction to enter 8,ny oI"der or decree permitting or requiring such receiver to sell, mortgage or otherwise dispose of any part o~ such Project. ~~e holder or holders of Certificates in an aggregate principal amount of not 1ess than twenty-five per centum of Certificates issued under this Ordinance then outstanding ~ay by a duly executed certificate in writing appoint a trustee for holders of Certificates issued pursuant to this Ordinance with authority to re- present suoh Certiricsteholders in any 1egal proceeding for ~e enforcement and protection o~ the rights of such Certi~icateholders. Such certificate shall be executed by such Certificateholders or their duly authorized attorneys or re- presentatives and shall be filed in the o~fice of the City Auditor andOlerk. N. ENFORCEMENT OF COLLECTIONS. That the City will diligently enforcp; and collect al~ fees, rentals, rates or other charges for said Project, and take all steps~ actions and proceedings for the enforcement and collection of ouch fees_ renta1s~ rate& or other charges whioh sc~ll become delinquent to the full extent pennltted or authori~d by the Charter of said City and by the laws: of the State of Florida. ARTICLE IV :MISCELIANEOUS PROV ISIONS J.4. MODIFICATI01~ OR AIl1END11ENT. No l'!la. teria~ modifies tion or amendment of this Ordinance or of any ordinance or resolution amendatory hereof or supplemental hereto, may be made without the consent in writing vf the holdf;rs of two-thirdS' or more 1n principal amjunt of the Certifi~nte3 then outstanding; provided, however, 'that no modification or amendment shall pennit a change in the maturity of such Cert1r1oates or a reduction in the rate of interest thereon, or in the amount of th~ principa1 obligation or affecting the unconditional promise of tIle City to maintain rates and rentals for the Projeot, as heroin provided, or to pay the prinoipal of and interest on the Cert1~ioates as the same shall coma due from the Revenues, wi'tho'~t the ,consent of the holder of such Certificates.. cr T.""""'''V-_' . , ... ...... '. " f, ........ ... 1,~~i~i[~i'; l :,..,: he"'''..;" ' ~;j;J)i;~I' : f' . ~"" , ~ ';'0':'1W~f"'~~~t;;~::~~j~~:='~C'C:B;'O:!"j~d~'~~"~:O'~~.6~'i,;";";mj",~,~",,j,:,~~,..,~;C~~2X~~~;~~~~' -/7-' OJ!I!Y COMMISSION l1EETING August 21, 1950 t . I. Ordinance 594, Cont'd. 15. SEVERABILITY OF INVALID PROVISION. If an, one or mora of the cove- nants, agreements or provisions of th1s Ordinance should be he1d contra~ to &n7 express provision of law or contrary to the pol~cy of express 1aw, though not expressly prohibited, or against publl~ policy, or shall for any re~son whatso- ever ~e held invalid, then such covenants, agreements or provisions shall be null and vo:td and mall be deeDled separable from the rema~ning covenants, agree- ments or provisiona, and in no way a ffect the validity of all the other pro- visions of this Ordinance or of the Certificates or coupons issued thereunder. 16. REFU1IDING OF CERTH'ICATES. If the City shall at anY' time hereafter issue Certificates, by sale or exchange, to fund or refund any of the Certi- ficates iSBued pursuant to this Ordinance, the ordinanoe or other proceeding3 authorizing the issuance of such funding or rerund~n6 Certificates ~y provide that the holders of such funding or refunding Certificates sheJ.l have the same lien and all the rights and remedies of the Certificates so funded or refunded; provided however, that such funding or refunding Certificates sha11 be in lfke prinoipa! amount and shall bear the same dates of matur~ty as the Certificates' funded or refunded by the issuance thereof. 17. That Ben Krentzman, City Attorney. be and he Is hereby" a.uth.orized' and directed to institute appropriate proceedings in the Oirouit Court of the Sixth JUdicial Cirouit of Florida, in and for Pine11as County~ Florida, for the valid- ation of said Certificates, and the proper officers of the Cit~ are hereby authorized to verify on behalf of the City any plead1nfls in such proceedings. ~~e Certificates hereby authorized shall be sold and de1ivered in such manner and upon such terms as shall be deter.m1ned by subsequent action or the City Com- mission. 18. That it is necessary for the immediate preservation or the public peace, property, health, and safety of the Oity of Clearwater and its citizens and inhabitants that the construction, ~provement and e~uipmant of said Pro- ject, as authorized herein, be undertaken and canp~eted with the :Least poss~b1e delay, and this Ordinance is Llereby declared to be an emergency measure and shall take effect upon its passage as provided by law. 190 That all ordinances and resolutions of the Cit~ Cammlss10n of the c~ty of Clearwater, or parts thereof, in conflict with the provisions of this O~i- nance ara to the extent of such conflict hereby superseded and repeaJ.ed. PASSED on first reading, August 7th, 1950. PASSED ON SECOnD reading, August 7th, 1950-. PASSED AND ADOPTED on third and f1na1 reading August 17th, 1950. Harry D. sar~eant Mayor-Co.mm1ss one~ Attest: H. G. Wingo 'C1 ty Auditor and Clerk Approved as to form and correctness' subject to a::mendment by Ordinance #596 Ben Krentzman Ci ty Attorne:yr " , . ' I' '- '. - , ~2\;'<:it~~~~~,,_.~..:,."", .. .". "..,'~ , ~~~t~r:1' ';~I';'f;~;J I :<." ,....: ,;,'. \ ,,".., .....' l ': ",:, .:.,::"~'~~~:f~~,\:~: .. . .. , . ,", ,- .;, ,.,",;, ,.. , ~. ..', ..' ~/t~ CITY COMMISS'ION MEETING August 21, 1950 , . ..' . ,., ",,,;c !:,,';""'jt"t;;'SLii""O"''''i~:'li';:~it;;''~~'~t~ifi~~ ~~:' " "". "'''' ., . ..... ft. ORDINA~OE NO. 595 AN ORDINANOE PROVIDING FOR THE AOQUISITION AND CONSTRUCTION OF EXTENSIONS, DiPROVEMENTS AND Bh'TTERMENTS TO THE UTILITY SYSTEM OF TIIE CITY 0lj1 OLEARWATER: AU- THORIZING THE ISS UANOE O!i' ~?125, 000 MUNIOIPAL UTILITY llli"VEUUE CERTIFI- CATES.. AND PROVIDUIG FOR TIlE RIGHTS 0141 THE HOlLDERS THEREOP. ," , ~ ',,' . - , .' . 't" j 'l~ " , i.....- . . ......',l\.:'~ . '. "\ ".;~:_.;:.. I . . , I I . , I . I . .1 DE IT ORDAINED BY TIlE CITY C011MISSION OJ? THE CITY 01<' CLEARWATER, FLORIDA, AS 1<'OLLOWS: ARTICLE I STATUTORY AUTHORITY, It'INDINGS AIID DEli'INITIONS. 1. AUTHORITY OF THIS ORDInANCE. This Ordinanoe is adopted pursuant to the provisions of Chapter 9710, Special Acts of the Legislature of Florida for the year 1923. and amendments thereof and supplements thereto, being the Charter of the Cit~ of Clearwater, and other applicable provisions of law. 2. FINDINGS. It is hereby found and determined as follows: (A) That the City of Clearwater now owns, opere.tes and maintains utility properties supplying water, gas and sewerage servioes in and to said City and its inhabit~nts and under the abovementioned statutory authority is empowered to maintain~ operate, improve and extend such utility propertiea and regulate and f1:c reasonable rates and charges: for the servioes furnished thereby. (B) That the City derives revenues from rates, fees and charges made and colleoted for the servicea and faoilities of said utility system and said rev- enues are not pledged or encumbered in any manner and that no obligations: of any kind are ohargeable against the revenues of said utility system, or any part thereof', except as follows-: (l) The City now has outstanding its Water Revenue Certificates. dated December 1, 1935, in the principal amount of $36,000, bearing interest at the rate of' four per cent per annum and maturing serially on December 1 of' each of the years 1950 to 1955, inolusi ve, which by their terms, are pa.yable f'l'om and secured by a first oharge on and pledge of the revenues derived from the opere ation of the portion of' said ~mnicipal utility properties supplying water service remaining after payment of costs of operation, maintenanoe and repair~ of said portion of said utility properties. (2) The City now has outstanding its Gas Revenue Certificates, dated Deoember 1, 1935, in the principal amount of 045,000, bearing interest at the rate of four per oentum (4%) per annum and maturing serially on December 1 of eaoh of the years 1950 to 1959, inclusive.. ~ich by their terms, are payable from and secured by a first charge on and pledge of the revenues derived from the operation of the portion of said municipal utility properties supplying gas servioe remaining after pa~nent of oosts of operation, maintenance and repairs of said portion of said utility properties. (3) The City now has outstanding ita Gas Plant and Sewer System Re- funding Revenue Certifioates, dated October 1, 1941, in the principal a~ount of $15,000, bearing interest at the rate of three and one-quarter per oentunl (3i%) per annum and maturing on October 1 in the years 1951 and 1952, issued pursuant to Ord1nanoe Number 484, adopted by the City Commission of said City on Jan- uary 11' 1942:, which by their terms a re payable from and seoured by a 1'irst oharge on and pledge of the revenues derived fram the operation of the portion of said municipal utility properties supplying sewer service remaining after payment of oosts of operation, maintenance and repairs of said portion of said utility pro- perties and by pledge 01' the revenues derived from the operation of the portion of said municipal utility properties supplying gas service remaining after pay- ment 01' costs 01' operation, maintenance and repairs of said portion of said utility propert~e~ and after the~e have been nmde therefrom all payments required to be made for the benefit of the above described Gas Revenue Cert1f'icates:. (4) The Oity now has outstanding its Nunicipal utility Revenue Certi- fioates, Series of 1947, dated December 1, 1947, in the prinoipal amount of $473,,000, bearing interest at the rate of three per centum (3%) per annum and maturing on December 1 of each of the years 1950 to 1963, inclusive, issued pur- suant to Ordinance No. 550, adopted by the City Commission of said City on November 1?, 1947, which by their tenne are payable from and secured by a pledge of and lien on the revenues derived from the operation of said municipal utility properties after the payment of all prior oharges thereon in the manner provided in said Ordinance No. 550. (0) That the revenues' of the portion of said municipal utility properties supplying sewer servioe and gas service available for deposit in the Sewer Rev- enue Fund c~ated by Section 8 of said Ordinance Number 484 for a period or not less than tweLve consecutive months, to wit, a period ot twelve consecutive mont~~ preceding th~ adoption of this ordinanoe, have bean equal to at least one and three- ." . ~( " " .,' . .,.: .... ~).,' .; :, :", ii. ~. :.;. ., 'i/, / , i~) '( " "t': ,;:.t.'~ : : "",,..., , :.: '~.~.~~: ~"1~~t~l ".~. -:.:.~: ;:~:.: . ,,;:..: .:-:,.;.. '~'~<: ~:: :-:. :,:":>~.'; '; . ' ,~': ,',~~".,...:.:.,:: .:: ' . .".,...., ,_:_:,~_-.,. ".,,,,,,;,,, .~':-,. ~,:";.:.~~,,,;,,,;' tf,:L ;i.~~:,",'~;i":,::~.:'~(.'~<:~b:~iL::'~~"",, - ':- ,,"; '.' . , ~....~ ." -.'\.."- ~!.~.....,_""..:'--,t... ..........._./2._"jJ,;.....;:'~~1~.:;'"4--.~.~~.J,; !i:~r..;........'~~n1~.l'.,../';.\I.f..l.., t .".JI...:r,~..4..".- I. ,) ~~~:~~tJ:~:~~,: yt;., .~ tll ""':''',:",,, .... . ';:i;'~,' s~;' .. f" . ," 'r'( ,...~..'}' , t;.;r}~ ;}~~~\:' . r " ",I . ',1", 1;:;:/}fj"1'~!; I., .. " I.' . ,::".,~(::" , I i . t .. ~ ; ~ .' ' I ! i i r r t t r , I I i -/(- CITY COJ,Usi ISS ION MF.ETING August 211 1950 Ordinance No. 595, Cont'd. tourthe times the amounts required to be deposited in the Operation Account for which pro~ision is made in Section e and required to be deposited in the Certificates Sinking Fund for which provision is made in said Section B, and tha t the City has procured and filed with the Ci t,. Olerlt a sta texnent of H. M. Turnburke, independent certified publio accouutant of recognized reputation not in the reRular employ of the City, dated August 2., 1950, reciting his opinion based upon necessary investigation that the net annual revenues of said muni- cipal utility properties of said City for the last two preceding fi&c81 ye~rs have been equal to at 1east one and one-half times the total of'the max1nnun amount that will became due in anyone calendar year f'or (1) beth principal of and interest on the Municipal Utility Revenue Certificates, Series of 194'1. now outstanding, and (2) the amount that will become due in anyone calendar year for both principa1 of' and interest on the oertificates to be issued pur- suant to this Ordinanoe, and that the annual principal and interest require- ments for the payment of the above described Water Revenue Certi~icates, Gas Revenue Certif'icates and Gas Plant and Sewer System Refunding Revenue Certlfi- oa tes have been included in making such computation. ,.,'.' i I I ".,' I.... (D) That the conlbination and consolidation of all of the aforesaid municipal utility properties supplying water, gas and sewerage services by prior action of the City Commission is hereby ratified, approved and confirmed, and 1n order to maintain and operate said combined and consolidated municipal uti11ty properties it ~s necessary for the preservation of the health, conven- ience and safety of said Oity and its inhabitants to acquire and constMl~t eXe tensions, improve~ents and betterments to said municipal utility properties, ino1udlng but without being limited to a storage tank, Inunpa. nmlns, pressure control valves, pipes and fittings for the portion of said utility propertie& furnishing water service, and to finance the cost thereof by the issuance of the certificates herein provided foro (E) ThBt said municipal utilities properties shall be improved and ex- tended substantially in accordance with the plans and specifications prepared by the City's Engineer, and heretof'ore .filed 1n the o.fflce of the City Clerk at an estimated cost of' not exceeding $125,000. Such cost shall be deemed to include the cost of the construction or acquisition o.f extensions, improvements and bettenmenta to said municipal utility properties, including the acquisition of' any lands or interest therein aQd of any fixtures or equipment or propertiee deemed necessary or convenient theref'or, interest upon the certif'ica tes' issued pursuant to this Ordinance prior to, and during and for six months after the cClJllpletion of such extensions" improvements alld betterments" engineering and legal e.xpenses" expenses for es till!B. te s of c oats and of revenues, expenses f'or plans, specifics tions and surveys, adminiatra tive expenses and such other ex- penses as may be necessary or incident to the financing authorized by this Or- dinance, and the construction or acquisition of the extensions, improvements' and better.ments authorized by this Ordinance and the placing of" same in operation. (F) That the estimated revenues to be derived from the operation of said combined and consolidated municipal utility properties will be more than suffi- cient to pay all operating and maintenance costs, to pay the annual interest and sinking .fund requirements for said outstanding Water Revenue Certificates, Gas Revenue Certiricates, Gas Plant and Sewer System Refunding Revenue Certificates and Municipal utility Revenue Certificates, Series of 1947, alld to pay the annual interest and sinking fund requirements ror the additional certificates herein authorized, and that it will never be necessary or authorized to levy taxes on any real property in said City to pay the principal or or interest on any of the arorementioned certi.ficates or certiricates to be issued pursuant to this Or- dinance, or to nake any of the reserve, sinking fund or other payments provided for in this Ordinance, and that the certiricates issued pursuant to this Ordinance shall not constitute a lien upon any of the said municipal utility properties or upon any other property wl~tsoever of" the City. (G) That all o~ the obligations of said City as undertaken and expressed . by the proceedings pursuant to which said outstanding Water Revenue Certificates, Gas Revenue Certificates, Gas Plant and Sewer System RefUnding Revenue Certifi- oates and Municipal Utility Revenue Certificates were issued are current so as to enable the City at this time to issue additional revenue certificates aa herein prOVided. 3. ORDINANCE TO CONSTIT1JTE CONTRACT.. In consideration o~ the acceptance or the certificates authorized to be issued hereunder by those Who shall hold the same from time to time, this Ordinance shall be deemed to be and shall con- stitute a contract between the City and such certifioateholders, and the cove- nants and agreements herein set forth to be perfor.med by said City shsl~ be for the equa1 benefit, protection and security o~ the legal holders or any and all of such Certif'icates and the coupons attached thereto, all of' whioh shall be of equal rank and without preference, priority or distinction of any or the certi. f1cates or coupons over any other theroof, except as expressly provided therein and herein. 4. That all provisions end declar.ations for the ownership, control, operation and maintexmnce by. the City of' Clearwater, F1orida, of its municipal utility properties supplying water, gas and sewage services in and to said City on a combined and consolidated basis are horeby ratified and conflr.mod~ and so long as any of the revenue certi.ficates herelnEi'fter authorized remain outstand- ~ng and unpaid said municipal utili'ty properties shall be so owned, controlled, operated and maintained, and shall ~onBtitllte the security for said revenue oertificates hereinafter authorized and providedo .f ~U_ ;;,;, '......" ;~,- '..... ",;.. ....:.: .. .... ~..:,::._; "':~:';'!:"i~,tj)t~ti:;~~~ifi~t",i,,~,,:i' ,'. '. . .; ~ ..~.. ;. I" , .. ...--....: ;,<..;' _ . .r1/, ~. ,...(,1... CITY CO~WISSION MEETING August 21, 1950 $~*i, >'.;'::J ,ISQ . . . ,<', : , r, . ",,', ~'" , . '1 \;;;.~~j... : j ,: .": '. '<,': .':',,: ,:" < ,~ ! Ordinance No. 595, Cont'd. 5. That for the purpose of constructing extensions, improvements and betterments to said municipal utility properties there be and there are hereby ordered issued the negotiable Municipal utility Revonue Certificates, Series~ of 1950, of said City in the total prj,ncipal amount of' One Hundred Twenty- Five Thousand Dollar~ ($125,000). Said Certificntes shell be in the denom- ination or $1,000 eaoh, shall be numbered 1 to 125, inclusive, shall be dated June 1., 1950, and shall bear intorost at the rate of three per centum (3%> per annum payable semi-annually on the first days of June and December of eaoh year, and said certificatos shall become clue in their numerical order on December 1 of eaoh year", $5,000 in each of thtl yeara 1952' to 1966, inclusive, ~lO,OOO in eaoh of the years 1057 to 1963, inolusive, and ~15.000 in each or the years 1964 and 1905, provided, that said certificates numbered 26 to 125, inclusive, Bl~ll be optional for redemption by said City p~ior to maturity in whole, or in part 1n the inverse oro6r of their maturj,ty (loss than all of 81 single r~turity to be selected by lot) on DecemlJor 1, 1956, or on any interest payment date thereafter, and in the event of the exercise of such right ot re- demption of any of said certificates as aforesaid said City agrees to pay to the holdeI' thereof upon redemption of such certificateS' intores1; in addition to that evidenoed by interest coupons then accrued, in an amount equal to three per cent (310) of the principal amount thereof if called for redemption on or prior to December 1, 1959; two per cent (2%) of the principal amount thereor if called for redemption thereafter and on or prior to December 1, 1961; one per cent (1.%) of the principal amount thereof if called for redemption thel'te- after and on or prior to December l~ 1963; and without payment of additional interest if oalled for redemption thereafter, and said City aerees that notioe of any such redemption identifying the certificatea to be redeemed will be published at least once not leas than thirty days prior to the redemption da te in a newS'paper or financial journal of general circulation published in the City of New York, New York, and any such certificates thus oalled for re- demption and as to which funds for the retirement thereof are deposited at the designated place of payment on or before such redemption date will oease to thereafter bear interest. Said certificates shall be payable as to both prin- cipal and interest in lawful money of the United States of America at the prin- cipal office of Chemical Bank & Trust Company, in the City of New York, New York. 6. That said certificates shall be executed on behalf of said City by its City Auditor and Clerk and its City Manager, and countersigned by its M~or- Conmissloner, and shall have impressed thereon the corporate seal of the City of Clearwater. Interest on said certificates at the rate of three per centum (3~) par annwn shall be represented by coupons attached to each of said certi- ficates executed with the facsinile signatures of said City Auditor and Clerk, City Manager and Mayor-Cmmnissioner, and said officials, by the execution of said certifioates, shall adopt as and for their own proper signatures their respective facsimile signatures appearing on said coupons. 7. That said certificates and the provisions to appear on the back there- of shall be in substantially the following form: .'.':' ",;.; , . ',,',', . ,I UNITED STATES OF A1!ERICA STATE OF FLORIDA COUNTY OF PINELIAS . CITY OF CLEARWATER MUNICIPAL UTILITY REVEnUE CERTIFICATE SERIES O:[i' 1950 No. $1,000 THE CITY OF CLEARWATER, in ~le County of Pinellas and State of Florida, for value reoeived, hereby promises to pay solely fram the special tund pro- vided therefor, as hereinafter set forth, to the bearer or, if this certificate be registered as to principal, to the registered owner hereof, on the first d~~ 0.1' December, 19 , the principal sum of One Thousand Dollars ($1,000) and to pay from said special fund interest thereon from the date hereof at the. coupon rate 0:C three per cent (310 per annum semi annually on the first day of June and December of eaoh year until paid, except as the provisions hereinafter set forth with respect to redemption may be and become applicable hereto, such interest as aforesaid as may accrue on and prior to the maturity date hereof to be paid only upon the presentation and surrender of the annexed interest coupons as they severally become due. Both principal of and interest on thi3 certificate are payable in lawful money of the United States of America at the principal office of Chemical Bank &: Trust Company, in the City of New York". New' York. Th~s certificate ia one of an issue numbered consecutively from 1 to 125, 1nc1ua1v'e" issued by said City pursuant to ancl in full compliance with the pro- visions of the Constitution and laws of the State of Florida, including the charter law of said City, and pursuant to an ordinance duly adopted by the City Canmission o~ said City. The issue of certificates of which this certificate is one has been authorized and issued for the purpose or paying and financing the cost of improvements, betterments and extensions to the municipal utility pro- perties of said City, supplying water, gas and sewage services. It is provide~ in said ordinanoe that the Commission of said City sl~ll fix and maintain rate~ and collect charges for the facilities and services afforded b~ said utility pro- perties ~fflc1ent to p~ovid& revenues adequate at &11 ttmos to par the cost of operating, ~intainIng and repairing same, and to pay into a speoia1 fund creat- ed b,. said ordinance amounts fUlly sufficient, aftel" a llowance for such costs of '. operat1on. maintenance and repairs, to provIde for the prompt pa:vment of the ... ;'1<1'< ~i~' r\~ . . ~!f'1~~~~C; t,L !L' "'q,, ,'j'" .fd f;~\~~~t{t~; I ";::f i. - '..;> II i i '. I .\ ,'. . I ., , ~~~li;-'\~l~:;!~~' . r "\;':-~;::'~;?'~:''.~;;:''<f...,~k, '~l' ,J ,-:.:11 -----~~" . " ." ..'",~j~'0""~'":i''.ii,,~ts'Ji~Jii..,jJ)I;;;;~~ik';'I,.j;l:~;;!''' k.: v ;~tirgtr ',' ~~ .~\, ' ; ~.:~., .irf \ ..l,.~"T\'(J...~.. .: J. .~\~\\:;:~~:~Ji~;{)>:~:"'::~' rli'''''''' "n'..,..,,/'" r:;;~~%';;1~~~~j~V '~L ~. " ... :. . . 6;~;cii~~i~iCJ;;'~~~k/~;0;~2~C .' ."...1.,,'('.. in." , .. ~ri~lfJ;~ " ~" .. . , ';" [', !, . ',: ...: ,",' '.....:..........:........... "'. "".""..,;~,.:'j /;..' (', ::,.t......; CITY. COMM lSSION MEETING August 21, 1950 ,;....:.-.. . . ..,' Ordinanoo No. 595~ Cont'd. interest on and principal of said issue of oertificates and all other certi.. ~1oates issued on a parity thorewith under the restrictions and provisions of said ordinanoe; inoluding an authorized issue of $525,000 hlun1clpa] Utility Re~enue Certificates dated Deoember 1. 1947, of which $4?3~OOO are outstanding as of the date hereof; provided, Bsid City haa outstanding certain Water Reve- nue Certificates, Gas Revenue Certifioates and Gas Plant and Sewer System Re- funding Revenue Cortlricates~ which by their terms are payable from and se- oured by a first oharge on and pledge of respeotively the revenue~ derived from the operation of the water works utility properties, sewer system and the gas. plant and aya te~ of said City r61l1a lning a fter payment of costs of opera tion,. maintenance and repairs of those respective portions of said municipal utility properties, and payments into said special fund as a.foresa,ld are subject to the vested rights of the holders of such of said Water Revenue Cert~flcates, Gas Revenue Certificates and Gas Plant and Sewe:r" Systenl Refunding Revenue Certi- fioates as may be outstanding from tDne to tiMe. This certificate, including interest hereon, is payable solely from said special fund and does not oonsti- tute an indebtedness of said City within the Moaning of any constitutional, statutory or charter limitation. ~e City of Clearwater is under no obli- gations to pay this certifioate or interest thereon except fram the revenue~ of the municipal utility properties as aforesaid. .~ , 1 1.-- . j~<"~) j :l.~ '. , ~,' Certif'icates of the issue of which this certifioate is one,. numbered 25 to 125, inclusive, are optional for redemption by said City prior to maturity in whole, or in part in the inverse order of their maturity (less than all of a single maturity to be selected by lot)~ on December l~ 1956, or on any interest payment da te thereafter, a nd in the event of the exercise or such right o~ redemption of any of said certificates aa aforesaid said City agrees to pay to the holder thereof upon redemption of such certificates interest in addition to that evidenced b~ interest coupons then accrued, in an amount equal to three per oent of' the principa 1 amount the reof' if' called for redemption on or prior to December 1, 1959; two per cent of the principal amount thereof if oalled for redemption thereafter and on or prior to December 1, 1961; one per cent of the ~incipal amount thereof if called for redemption therearter and on or prior to December 1, 1963; and without payment of additional interest if oalled for redemption thereafterl and said City aerees that notice of any such redemption identifying the certificates to be redeemed, will be published at least once not less than thirty days prior to the redemption date in a news- paper or financial journal of general circulation published in the City of New York~ New York~ and any such certificates thuB called for redemption and as to whioh funds f'or the retirement thereof are deposited at the designated place of payment on or before such redemption date will cease to thereafter bear interest. This certificate with interest ooupons hereunto appertaining is issued upon the following terms and conditions to all of which each taker and owner hereof and of the interest coupons consents and agrees': (a) Title to this ce~tif'icate, unless registered as herein provided and to the annexed interest coupons may be transferred by delivery in the s$me manner as a negotiable instrument payable to bearer; (b) Any person in possession of this oertificate~ unless registered as herein proVided, or of the interest coupons hereunto appertaining, regard- les8 of the nanner in which possession sl~ll have been acquired, is hereby authorized to represent himsel~ as the absolute oWn~r thereof and is hereby granted power to transfer absolute title thereto by delivery thereof to a bona fide purchaser, that is~ to anyone who sl~ll purohase the same for value (pre- sent or anteoedent) without notice of prior defenses or equities o~ claims of' ownership enforceable against his transf'error; every prior ta.ker or owner of this certifioate, un~ess registered as herein provided and of the annexed interest coupons, waives and renounces all of his equities or rights 'therein in favor of every suoh subsequent bona fide purohaser, and every suon bona fide purchaser shall acquire absolute tltle thereto and to all rights represented thereby; a.nd (0) The City of Clearwa ter may trea t the bearer of" this certifica te I unless registered as herein provided, or of' the interest ooupons hereunto appertaininF" as the absolute owner thereof' for all purposes wl~out being affected by any notice to the contrary. All acta, conditions and things required by the Constitution and laws of :B'lor:tda, and the charter of s~id City to happen, ex.ist and be performed precedent to and i~ the issuance of this certif1oate~ have happened~ exist and have been performed as so required. This certificate is registerable as to principal alone in aocordance with the provisions endorsed hereon. IN WITNESS \v.ffEREOF said City of Clearwater hB3 caused this certificate to be executed on its behalf by its City Auditor and Clerk and its City Manager, countersigned by its Mayor-Commissioner, under its oorpoI~te sea1~ and the in- terest coupons hereto attached to be executed with the racsimile signaturee of said offioers, all as of tbe first day of' June, 1950. CITY' OF CLFARYiATER, FLORIDA By: City Auditor and Clerk B~ Oounters1gnedz City Manager Mayo~-Oomm1ss1on8~ ._.___~fI'<_ _'_" t, . I' ; " I; i !' " i. . !< , .. .,',!..f:. . ,. .:.' ,:.'.,~::.;. ", . '':. ',." .'~ . .". :~,:,j:;!~ti::;~" I.,~ ......,......cc-'"".,~,;, c,c.~_,,;"""',.,...c,.~,,~~,,~~~~~tt~~;~~\;~:'.:::::"~'j~~l~' . . ~ ;2.~ ~. ~"i;'6A , CITY Ccm~lISSION MEETING August 21, 1950 '...... Ordinance ~95, Cont'd (FORM OF COUPON) '~j;J{~,,,. ~~;~~1 ..,.,"~,.,,~l..;+'.".tf..' .': I :;i~~;X;~lti~6)1 J~~~1~0'{/;kcb ....l.'......'....-.1 \l;;;~ ; <-,\;ii,:hY'I . j NO. On the first day of , 19 ~ the City of Clearwater Florlda# will pay to bearer at Chemical Bank & Trust Company, in the City ot New York, New York, the s'urn of Fiftoen Dollaru (~lS .00) solely from the speoial .fund referred to in and for the semi-annual interest then due upon its 11unicips.l Utility Revenue Certificate, Series of 19SO, dated JUne 1, 1950, NUmbered City Auditor and C~erk City Nanager Mayor-Commissioner (Foml O}<' VALIDATION CERTIFICATE) Validated and confirmed by a decree of the Circuit Oourt of the Sixth Judicial Circuit, in and for Pinellas County, Florida, rendered on the day of , 1950. Clerk of said Circuit Court (CERTIFICATE OF REGISTRATION) This certificate may be registered as to principal on the book~ of the City Auditor and Clerk of the City of Clearwater and notation of such registra- tion made hereon, and this certificate may thereafter be transferred on said books by a written assignment by the registered owner or his attorney, duly acknowledged, or proved, and notation of such transfer endorsed hereon. Such transfer may be to bearer and thereby transferability by delivery sha1l be restored, subject, however, to successive registration and transfer as before. The principal of this certificate, if' registered, unless reeistered to bearer, sha11 be payable only to the registered owner, or his legal representative, but the coupons appertaining hereto will remain payable to bearer, notwith- standing registration of this certificate. Name of' Registered! Holder Da te of Regis- tration Signature of City Auditor & Clerk . . I . . . . I I . . . . . . . . . . . . .. ., 8. That said Certificateg shall be registerable as to principal in aocordance with the provisions for registration hereinbefore provided for en- dorsement upon said certificates, and the City Auditor and Clerk is hereby appointed and designated Registrar for such purpose. No charge shall be made to any holder of sa id c ertifice te s for the privilege of regis:tra ti on. 9. That the City of Clearwater hereby covenants and agree~ with each successive llolder of the Certificates herein authorized and the coupons there- to attached that so long as any of the said certificates are outstanding it will continuously own, control.. operate and maintain its municipal util:1ty properties supplying water, gas and sewage services in and to said City on ~ combined and consolida ted basia and will at all times fix. and maintain rates and colleot charges for the facilities and services afforded b~ said muni- cipal utility properties fully sufficient at all tfmes: (8) To pay the reasonable and neceaBary oost of operating, main- taining and repairing said utility properties. (b) To maintain from the e.ccountable revenues from the portion of said utility properties supplying water services and facilities the wwaterworka Revenue Certificates Sinking Fund" provided and ~equ1red 'to be maintained to se011re the payment of the presently outstanding Water' Revenue Certificates of said City dated December 1, 1935. ~, -',-' ..._-.JlIIf___ ,- . I: . ..... . . " '", ,,,' , ':1 . { . \. August alSl 1950 Ordinance ~95~ Cont'd. Cc) To maintain from the accountable revenues from the ~ortion of said utility properties suppl~ing gas servioes and racilities the Gas Reve- nue Certificates Sinking Fund provided and required to be n~intained to ^ ::,::::,;:n::;;',:';: secure the paymek-.i.t of the presently outstsndiJ'lf; Gaa Revenue Certificates of said City dated December 1, 1935. : 3 "'~ ,.t'~\ . . ' ',:"" \;:,.;, J '. ~ 'w,pY , :> ~~~ , , , , , , . , , ~ (d) To nlalntain from the accountable revenues from the portion or said ut1lity properties supplying gas services and raci1itiea and seNer ser- vicGS and facili ties the "Re1"unding Revemle Cert1f'ica tea Sinking Fund" pro- vi.'ied and required to be maintained under the provisions of the above des- cribed Ordinance Number 484 to secure the payment of such of the Gas Plant and Sewer System Rerunding Revenue Certificates as may be from tirnv to time outstanding, and speoifically to assure the existence of such revenues annually equal to one and three-fourths times the amounts required to be de- posited in said Binkinf~ f1md and in the Operation Aocou..'1t pursua.nt to the provisions o:r S'ectj,on 8 of said Ord.1nance Number 484. (e) To maintain the special fund created and designed "!funioipal Utility fievenue Certificates Sinking l<und," under the proviSions of'the above described Ordinance number 550 suf'flcient to provide for the payml3nt of the principa1 of and interest on the outstandine; I\lunlci:pa1 Utility Revenue Certi- rioates, ner1es or 1947, the intorest on the certificates herein authorized and those herein permitted to be issued on a parity therewith as such interest falls due, pay the principal thereor at or before 1I1aturit'Y~ and to provide and main.- tain a reserve 1"or contingencies as hereinarter provided; and (r) To provide f'or and permit to be set aside into a speoial fund hereby created a,nd designated "Depreciation Fund" an amount equa1 to wt least three per cent of the gross receipts or revenues or said municipally owned and operated utility properties and to be used ~or extension or replacement of capital assets of said properties and utilities. .,' ., ',' , .', , . J ;) .,' 10. ThBt the gross revenues of said utili~ properties shall be de- posited as received in a fund separate and apart from all other fund~ or acoounts of' said city, to be designated as the "utility Revenue l~d,n provided that, so long as there are outstanding and unpaid any 01' the aforesaid water Revenue Certificates, Gas Revenue Certificates or Gas Plant and Sewer System Refunding Revenue Certificates of said city, a separate accounting shall be kept of the arnount of such gross revenues of the respective portions of said utility pro- perties. The moneys in said account sha11 be set aside on the first day of each month into separate and special funds as f01lows: (a) Operation, li!aintenance and Hepair Fund: There sOO11 be a funcli known as the "Operation~ Maintenance and Repair FUnd," into which there Shall be pa id monthly O\lt of the gros s revenues a sutfic ient amount for the reason- able current expenses of operating, ~intaining and repairing the said utility properties; provided, that so long aa there are outstanding and unpaid any of the aforesaid V/ater Revenue Certificates, Gas Revenue Certifioates, or Gas' Plant and Sewer System Ref'unding Revenue Certificates of said city, a separate accountinb shall be kept of the reasonable current expenses of operating~ ~Ain- taining and repairing the respective portions of seid utility properties;, and the amounts thereof shall be chargeable against the separate accounting of the gross revenues from those portions of said uti1ity properties; (b) Water Revenue Certificates Sinking Fund: So 10ng as there are outstanding and unpaid any Water Revenue Certl1"icate~ of said city~ dated Decamber 1, 1935, there shall be paid into the special fund securing the pay- ment thereof the l~quired amounts from the separate accounting of the revenues of the portion or said utility properties supplying water services and facilitie$, all as provided and required by the proceedinBs pursuant to which said Water Works Revenue Certificates were issued and are now outstanding; (c) Gas Revenue Certificates Sinking l<und: So long as there are out- standing and unpaid any Gas Revenue Certificates of said city dated December ]~ 1935, there shal1 be paid into the special fund securlns the payment thereof the ~equired amounts 1"rom the separate accounting of the revenues of the por- tion of said utility properties supplying gas aervices and facilities, $11 ~$ provided and required by the proceedings pursuant to which said Gas Revenue Ce~t1:ricates were issued and are now outstanding; Cd} Refunding Re'venue Certificates Sinking Fund: So long a.s there are outstanding and unpaid any of the above described Gas Plant a rd Sewer Re- fUnding Revenue Certificates there shall be paid into the special fund securing the pa:rment thereof ~ the required amounts i'rom the separate accounting of the revenues of the portion of said uti1it'1 properties supplying gas sel"vices and facilities and sewer services and facilities provided to be paid thereinto under the prOVisions of the aforesaid Ordinance Number 484j1 and it is speci- ~ical1y provjrled, recited and agreed that nothing in this ordinance contained shall 'be construed to pledge to the payment of the Certificates herein author- ized revenues to be derived from the portion of said utility properties BUpply- ing gas servioes and fac1lit1e5~ except to the extent that such ~venues exist in an amount equal to one and three-fourths times the amounts required to be deposited in the Operation AOQount and RefUnding Revenue Oertificates Slnk1~ Fund established by section 8 of said Ordinance Number 484. All Ilgt-eements and obligations herein contained and ~posed on the city by ]aw~ pursuant to wnlchthe city shall hereafte~ be obligated to nake the revenues o~8a1d oom- bined utilit,' p:ropert1e~ suf!'1oient to carry out all of the obligations o~ this ., :~. ", --,,---, 14~ ;~ 'I '::1 ,', .;. . .~ ...... i , '.j! '~ ,...t- ...... ,. !:: . ' . -.. . , . ~~ '- ':.~' :,' ..,".. . -. ,;: fL .. CITY COMM ISS ION MEETING August 21, 1950 Ordinance #595, Cont'd. '. .,'" ordinance, shall be so oonstrued as to require the oity to impose and oolloct rates and ch.al~ge8 for the connnoditiea and servioes supplied by sa id combined utility properties in an amount fully sufficient to oarry out all suoh ob- ligations after there hove been deducted therefrom gas and sewer revenues in an aIl10unt equal to one and three-fourths times the amounts requ1rad to be deposited in said Operation Acoount and R6fundin~ Revenue Certificates Sink- in~ l~nd under the provisions of Section 8 of Ordinanoe Number 484 aforesaid. Ce) Munioipal utility Revenue Certificates Sinking FUnd: The "Municlpa 1 utility Revenue Certifica tea Sinking fund, It (horeinafter sometimes referred to as the "sinking fund") ~~~ll be used solely and onl~ for the pur- pose of paying the prinoipal of and interest on the outstanding Municipal utility Revenue Certifioates, Series of 1947, the Certifioates herein authorized, and any additional certificates that may be issued on a parity therewith under the rostrictions and provisions hereinafter set forth. After making the required mon~lly pa~nonta into the Operation, Main- tenance and Repair ~Und, into the Water Works Revenue Certi~icatea S1nk~ng Fund, j.nto the Gall Hevenue Certificates Sinking !<und, and into the Refunding Reve- nue Certifioates Sinkinf> l~nd as hereinbefore in this Section provided, there shall then be set apart and paid into said sinking fund each year ~n equal monthly inst&1~lent8 a sufficient portion of the remaining ~ross revenues for the services' and facilities rendered by said Dlunic1.pa:t utility properties so as to paj. promptly when due the interest on and the principal of a~l such oerti- ficates from time to time outstandin~ and to also create during the first five years following the date of issuance of any such oertifica tes~ and to there- after maintain a reserve in said fund in an amount equal to ten per cent C10%) of the prinoipal anlount of such certificates theretofore issued. Computations .for such monthly payr.lonts shall be made as of December 1 of each year, and the amount to be ao set apart and paid into said sinkin~ fund in each month from and after such December 1 sl~ll be one-sixth of the amount of interest to be- come due on the next suoceeding interest payment date plus one-tweJrth of the amount of principal to become due on the next succeeding Dec~lber 1, provided, for the first five yeors following the date of issuanoe of any revenue certi- ficates an additional amount of said revenues shall be paid into said sinking fund monthly so that at the end of said period of five years a reserve will have been ~ccumu1ated equal to ten per cent (lO~) of the principal amount of any such certificates. If, in any month, there be a failure for any reason t~ pay the required amount into said sinking fund, the deficiency shall be added to the amount otherwise required to be set apart and paid into said fu.nd dUJ:'in#2; the suoceeding month. Ho part of said sinkinc; fund shall be used or applied to the redemption of certificates prior to maturity unless all of the certificates then outstand- ing are to be redeemed or retired. No further payments need be made into aaiCf sinking fund when and so long as the amount then held therein, Inc~uding the reserve, is equal to the entire amount of interest and principal that w~ll be payable at and before the ti~e of retirement of all of such certif~oates then re~nining outstanding. (f) Deprecia.t:1.on Fund: There shall be paid into the "Depreciation Fund It an amount equal to a t least three per cent (3~) of the gross reae~pts or revenues of said municipally owned and operated utility properties to be uaed .for extensiona or replacements of oapital assets of said propert1es and utilities. l\~~: ",,,,/, 11'.'::" 'F. ...:.... -, In each month after making the required payment into severalL f"unds as' hereinbefore in this' seotion provided, the balance in the utility Revenue FUnd (in excess of the amount estimated by the City Commission to be required to be withdrawn therefrom during the next succeeding three months for like payments) rtlB.y be set apart and paid into the "Depreoiation Fund" and be used for paying the cost of necessary extensions and replacements to the said municipll utility properties' to the extent required from time, to time for that purpose and otherwise such balance may be used to purohase or retire certii'icates in advance of maturity or may be expended or withdrawn on order of the City Com- miss :ion for any lawful purpose. All money whioh 1s or should be by the foregoing prOVisions paid intO' the sinking fund is hereby pledged to the payment of the interest on and prin- cipal of the outstanding Municipal Utility Revenue Certifioates, Series of 194~~ the certificates hereinbefore authorized a nd such additional certifica teso rank- ing on a parity therewith from time to t~le outstanding and which are payable there.from, and said money shall be deposited in a solvent bank or banks as a fund separa. te and apart from a11 other municipal funds!, and each and every such deposit~ to the extent i~ causes the aggregate of deposits by said City in su~.h bank to be in excess of *5~OOO. shall be oontinual1y seoured by surety bond or bonds v~itten by a surety company or companies of recognized standing o~ by the valid pledge of direct obligations of the United States of Al!lerica~ having an aggregate market value, exclusive of acorued interest~ at al] t~e8 equal to the amount of such excess. 11. That the oertificates authorized to be issued hereunder aha~l be on a parity with the ltunioipal utility Revenue Certifioates, Series of 1947, as to source and security for the payment thereof fram the revenues of the uti11tr properties and shall not be entitled to priority one over the other 1n the application of the revenues of the municipal utility properties, regard~es~ of the time or times of their 1ssuance~ it being the intention that there shall be no priority among the oertificates regardless of the fact that they may be ac- tually issued and delivered at different times. The CitY' agrees not to 1rlo\\~...any add! t1.ona1 oblige tions P8.'18ble f'rom the revenues ot said munioipal uti11t'y . ~,.~, !. .-..;;;-~.- ,. . ";' -,'" ~., '; ""',' : " ,t,: - . > ~.~:. ~ :.' i ::,;}?% ;;~;*,~;,',i~~~~"~~'""""""""""'" " '1;'''l''''':t . . . . . . . , . ":>'~ ~.- ;:~: ~/<;:":\, :.;. 'I .... "":,1 ,,', . '.' ,', '.' ':.1 .:.... .', '.. , !' ',', I . . i . I '~ . 1 . ~..~~...:....-? ! :~ , :5 ~ , :~ :~ ,~ I ~ ;1 .~ .~ ){ " :,". :'. ':5 " " "'.~':':~,'~"~'<.,>.: ;:," ;,~ t~,t~jli~;j~~ii~"{'> . ,....,.....".:.., -, "'., . ,";,.. .... ..'. ,--' ",. . ...:.' ., ._," ~ ..... I. " . , ... .', , , .~:;;,~".;:.".;~,',...".:-L,~;J!.i~s:i.;;,:'o~;~;.:.l~:;;;L~;~;;j,':;t~tj!{i;i!~ '. ~,; ,I 6/7 '-'"""v'" " ' t~~II~~ .' ~,.. ..," ," ...,' ..1 I. ~: >'i '.'. ,:.;!i,:,....:.~.:i;.., \~~~!';l'i!!.(' -1- - ,-A.:J CITY COMMISSION MEETING August 21, 195Q Ordinance No. 595, Oont'd. properties which will ha ve priority in any respeot to the certifica tea herein authorized; provided, that said city hereby reserveS' the right and privilege of issuing additional certificates from time to time payable ~ram the revenues of said municipal utility propert:tes rlll1king on a ~rity wi th the oertificates' hereby authorized and the outstanding Municipal Utility Revenue Certifioates', Series of 1947, in order to pay the cost of extensions, improvements and better- ments to said propertie~; provided, that before any such additional certificates ranking on a parity may be issued thore shall have been procured and filed with the City Olerk of said city a statement by an independent certified public ao- countant of recognized reputation not in the regular emp10Y of the city reoit- ing the opinion based upon necesBa~J investigation that the net annual revenues of said munioipal utility properties of said city for the last two preceding tiscal years has been equal to at least one and one-half times the total of the maximum amount that will become due in any ana calendar year for (1) both prin- oipal or and interest on the outstanding Municipal Utility Revenu8 Certificates, Series of 1947, and the certifioates issued hereunder then outstanding, and (2) the amount that will become due in anyone calendar year for both prinoipal of and interest on the certificates then proposed to be issued; and prov1ded alao that the interest payment dates for any such additional certificates ahall be semi-annually on June 1 and December 1 of each year and the principal maturities ot such additional cert1ficates shall be on December 1 of the year in which any ot such principal 1s soheduled to become due; and provided also that while said oity has outstanding any Water Revenue C~rtiticates or Gas Revenue Certifioates, dated Deoember 1. 1935, or Gas Plant and Sewer System Retunding Revenue Certifi- oates. the annual principal and interest requirements for payment of same shall be inoluded in making such canputa tion. .;. '>, ~ ,,,:,,,!'~'; .'.>;:,: \".:;< (':~::~<::.~\~:: .' " " " i. ~, ... '.,;." .,' l- f ! I ~: i; ; '. ;. t !: ( r I I I , I i , , ~ r The additional certificates, the issuance of which 1s restricted by this section, shall be understood to mean obligations payable ~rom the revenuea ot the municipal utility properties on a parity with the certificates herein specifically authorized and shall not be deemed to include other obligations~ the secUl'ity of which is subordinate and subject to the prior and superior security of the certificates authorized to be issued by this ordinance. "Net earnings" are defined as gross revenues, less operating expenses, which shall include salaries, wages. cost of maintenance and operating materials and supplies, pumping costs, insurance and maintenance expenditures. The prov1sions of this section are subject to the exception that if. prior to the payment of the certificates herein authorized, it shall be found desirable to retund same, or any other certificates ranking on a parity there- with, said oertifioates or any part thereof may be refunded, and the retunding certificates so issued shall enjoy complete equality and parity with the portion ot said oertificates whioh is not refUnded, if any there be, and the refunding certificates shall continue to enjoy, whatever, priority over subsequent issues that may have been onjoyed by the certificates thereby refunded; provided, how- ever, that if only a portion of the certifioates outstanding is so refunded in such manner that the interest rate is increased or that the refunding certifi- cates mature at a date earl.ier than the maturity date or any of the oertificates not refunded, then such certificates may not be refunded on such parity without the consent of the holders of the unretunded portion of all of the certificates, then outstanding. 12. It is hereby covenanted and agreed that so long as any of the certificates hereby authorized are outstanding the city will oarry adequate fire and windstorm insurance on all buildings and structures of the utility properties which a~e subject to loss through ~ire or windstor.m and will carry adequate public liability insurance and will otherwise carry insuranoe of the kinds and in the amounts normally carried in tho operation of similar utility properties in Florida. All money received for losses under any of such insurance, exoept public liability, and except as may be otherwise required by reason of oontract rights vested in the holders of any o~ the outstanding certificates payable from the revenues of the utility properties, shall be paid into the Depreoiation Fund and disbursed for the same purposes as are other disbursements t'rom the Depreciation Fund. 13. That the city hereby covenants and agrees it will cause proper books and accounts adapted to the utility properties to be kept and will cause the books and accounts to be audited annually by a recognized independent certified public aocountant and will make generally available to the holders o:f any of the cortifioates the balance sheet and the profit and loss statement as certified by such accountant. The holders of any of said certificates shall have at all reasonable times the right to inspect the utility properties and the records, accounts and data of the city relating thereto. 14. That While the certificates authorized herein, or any of them, remain outstanding and unpaid the rates tor all services and facilities ren- dered by said utility properties to said city and to its citizens and to all consumers within or without the boundaries of said City shall be reasonable and just, taking into aooount and consideration (1) the cost and yalue of the propertIes and the oost ot maintaining and operating same, (2) the proper and necessary .llowance~ tor the depreciation thereof, and (3) the amounts re- quired to be paid into the sinking fund fer the interest on and retirement of the oertif1catea herein authorized or permitted to be Issued, and there shall be charged and enforced aga~~st all users of said servioes and facilities, in- oluding 5id city, such rates and amounts as shall be adequate to meet the re- ~Irements or this o~lnance. ---~...!....-_. . " ,,; ~~..... '" '.' ~: .' ..."'..... \ (.;~,;. '~:..'. i.' :,. "'~:~' , ,". :. ., "-"-;;'-:\!;~L~~i.~":..:../...,,'.:: .... '",:"'''J'~i;':,: ..:_~ ;.~. ,::.'. " ,'. " .,:<....... . .,: --.:;/ "" .' ", ':, .' '.' . : . ....:, ',' ,; -.' ',.... .,,< .:/:;';j!)f\; . ,. .~~""'''''-'''''l;>:.<'""""~,~,~"""""",,,_ .....~..~~......"""--_.-..~.....- """-'_' ;z, l ~ _.. .." ".__.~".."~"',... ".~,~",,,._.._...,-----,,",,,,,,,,,, OITY OC61MISSION l~EETI}1G August 21, 1960 Ordinance' 595, Oont'd. "\< " 16. The provisions ot this ordinanoe may be enforoed by mandamus or In- junotion on behalf of the holders of the oertifioates trom time to time out- standing, but there s}~ll be no liability adjudioated horeunder against tho city as a whole, nor aga 1nst any general oorporate funds 01' assets ot the o1t'1. 16. That th~ period of uselu1lness ot the improvements. extensions and better.ments whioh are to be oonstruoted with the prooeeds ot the certifioates herein authorized is hereby found to be not less than thirty-five years. 17. That Ben Krentzman, as attorney for the City or Olearwater, 11 hereby authorized and direoted to take appropriate prooeedings in the Oircuit Court o~ the Sixth Judioial Circuit of Florida_ in and tor P1nellas Count1~ tor the validation of said certifioates, and the Mayor_ City Manager and Oit~ Auditor and Ole rk are authorized to sign any documents deemed neoessary in suoh prooeed- ings. The oertificates hereby authorized shall be Bold and delivered in such manner and upon such tenns a s may be presoribed by the City C0l1l1l11ssion. All sums received as aoorued interest shall be paid into the sink1ng fund and s11 other prooeeds sha 11 be expended on order of the City Comniss1on for the PUI'POS8 tor which said certifioates are herein authorized. 18. That if an~' sf.;~t.ion, paragraph, olause or provision of this or- dinance shall be held to ba invalid or unenforceable for any reason, the 1n- validity or unenforceabi1ity of such section, paragraph, clause or provision shall not effect any of the remaining provisi ons of this ordinance. 19. That by reason of the urgent need for 1\mds to pay the oosit of these improvements, extensions and betterments, as herein prOVided, for the preserva- tion of the health, safety and welfare of the inhabitants of said city, an emer- genoy is hereby declared and this ordinance shall be in full force and effect immediately upon its adoption as proVided by law.. PASSED ON first reading, August 7 ~ 1950, PASSED ON seoond reading, August 17, 1950 PASSED AND ADOPTED on third and fina~ reading, August 17, 1950 Harry D. Sargeant Mayor-Commissioner Attest: H. G. Wi~O ~ltY' Aud or &.Clerk Approved as to form and correctness subject to amendment by Ord. #597 Ben Krentzman City Attorney ,',- "',: . .,~. . .\' . " 1 j I I j ~~ ,r.-,.,........ .' " " 1 , ~ j ~1 j ,I ,j j I ~ 1 "l 1 " j , ' ,,. c : I ;1 I " , , .>~' , , ~l ::~ :3 11 . -.13 ; .. :"':'., l~l~i~cti.<.":;'...""'" . ,-.,-:,."." .. :".~~ ,;~;~;",L:J;i'~tW~~~fril};}~' ", , . .. (':3I:~' l .' ORDINANCE NO. 596 City CommIs3ion MeetIng August 21p 1950 ORDINANCE NO. 595- AN ORDINANCE AMENDING SECTIONS 5 AND 9 OF ORDIl{A.NCE 59. BEING AN ORDINANCE PROVIDING FOR THE ISSUANCE OF $115,000.00 YACHT BASIN REVENUE CERTIFICATES BY CI~NGING THE DATES BY WlIICII SAID CERTIFICATES ARE CA.LLABLE, AND PROVIDINCl THE E}l'F'ECTIVE DATE OF THIS ORDINANCE. BE IT ORDAINED BY THE CITY COl.1MISSION OF THE CITY OF CLFARWA.TER, FLORIDA, AS FOLLOWS: SECTION lr That Section 5 of Ordinance 594 is hereby amended in its entirety to read as follows: "5. DESCRIPTION OF CERTIFICATES. The Certificates shall be dated JUly l~ 1950. shall be in the denomination of $1,000 each, shall be numbered trom 1 to 115. inclusive.. shall bear interest at the rate or three and one-quarter per oentum (3.;.%) per annum payable semi-annually on January 1 and July 1 of each year, and shall mature serially in numerical order, lowest numbers first. on July 1 of each year, $5.000 in each of the years 1952 to 1956, inclusive, and $10,000 in eaoh of the years 1957 to 1965, inclusive. The Certificates ~turing in the years 1952 to 1955, inclusive, shall not be redeemable prior to maturity. The Certificates maturing in the years 1956 to 1965, inclusive, shall be redeemable prior to maturity, at the option of the City on July 1. 1955, or on any interest paYr.J.ent date thereafter prior to tnat'lrity, as a whole or in part, in inverse numerical order. at a rede~ption price of par and accrued interest to date of redemption, plus a premium o~ three per cent (3%) or the par value thereof if redeemed on or before July 1, 1958; or a premium of two per cent (2%) of the par value thereof if redeemed thereafter but on or before July 1. 1960; or a premiUlll of one per cent (1%) of the par value thereof 1.1' redeemed thereafter but on or before July 1, 1962, and without premium if redemmed thereafter; ~ovlded tbat ~ notice of such intended redemption shall have been published by the City at least once at least thirty days prior to the date of redemption in a financial paper pub- lished in the City of new York, New York, and provided further tha t it less than all of said Certificates subject to redemption are so called for redemption, the notice of redemption shall state the identifying numbers of the Certificates to be redeenad. Said Certificates shall be issued in coupon form, sl~ll be payable with respect to both principal and interest in lawful DlOney of the United states of Am~rica, at the principal office of the Chemical Bank & Trust Company, New ~ork City, New York, and slmll bear interest from their data, payable in accordance with and upon surrender of the appurtenant interest crnlpons as they severally mature." SECTION 2. That Section 9 of Ordinance 594 is hereby aL1ended to read as fi~~~t ::}~~tf: : , '. ;,' ~,,:'. :'~, r ,:? J:<:.\ I. ,::~,":, fJt.r follows: 119. FORM OF CERTIFICATES AND COUPONS. The text or the Certifioates, cou- pons and provisions for registration shall be of substantially tile following tenor. with such omissions, insertions and variations as may be necessary and desirable and authorized or ~er.mitted by this Ordinance. or any subsoquent ordinance or resolution adopted prior to the issuance thereof: No. $1,000 UNITED STATES OF AMERICA STATE OF FLORIDA CITY OF CLEARWATER COMMERCIAL AND YACHT BASIN REVENUE CERTIFICATE KNOW ALL MEN BY m~SE PRESENTS that the City 01' Clearwater, in Pinellas County. Florida, for value received.. hereby promises to pay to the bearer, or if this Certificate be registered, to the registered holder as herein provided. on the first ., day of ~tly~ 19 . from the revenues and special funds hereinafter mentioned. the principal sum of ONE THOUSAND DO~RS ($l~OOO) with interest thereon at the rate of three and one-quarter par cen~ (~~) per annum, payable semi-annually on the 1st day of January Bnd the 1st day of July of each year upon the presentation and surrender 01' the annexed coupons as they several~y fall due. Both principal of and interest on this Certificate are payable in lawful money or the United States of America at the principal office of the Chemioal Bank & Trust Company. in the City 01' New York, State of New York. This Certificate is one of an authorized issue of Certifioates in tne aggregate principal amount of $115,000 o~ like date. tenor and effeot, exoept as to number and date of maturity, issued to finance the cost 01' the construction. improvement and equipment at commercial and yacht basin tacilities in the City of Clearwater, under the authority of and in full compliance with the Constitution and Statutes of the State of Florida. the Charter of the City of Clearwater. being G.hapter 9~10, Special Acts of the Legislature of Florida ror the year 1923, as amended and supplemented. snd other applioable st~tutes, and an Ordinance duly adopted by ~e City Commission o~ said City on August ,1950. and is subject to all the terms and conditions of said Ordinance. This Cert1ficate and the ooupons appertaining hereto are payable solely ~ram and secured by a l1en upon and p1edge of the net revenues derived tram the operation or the Project desoribed in the Ordinance authorizing this issue of Certificates in the ~nner p~ov1ded in said Ordinance and does not oonstitute an indebtedness or ~he City or Clearweter within the moaning of any constitutionsl. statutory or charter pre- Y1e1ons or ltm1tation, and it is expressly agreed by the ~01der8 of this Certificate and '..... _____ ~__IJ"~" .. -,' . ,. ,l;,.- -.;~~, r~' , ;'- {~~!l~~~[~~j,'< \ ,,,"':~ ':'" .~,(..,,~.~l , J .1 i i ,~.~ : .,' \', .~: .:....r., - /.~l, . " I' ~ '.. .~< .', . " ~ < CITY COl'ilMISSION MEETING AUfWst 21, 1950 Ordinance #596, Cont1d. the coupons appertaining hereto that such holders shall never have the right to require or campe1 the exeroise of the ad valorem taxing po~er of said City, or the taxation of real estate in said City, for the payment of the principal of and interest on this Certificate or the making of any sinking fund, reserve or other payments provided for in the Ordinance authorizing this issue of Certificates. It is further agreed between the City of Clearwater and the holder of this Certificate that this Certificate and the obllp,ation evidenoed thereby shall net con- stitute a lien upon the aforesaid Projeot, or any part thereof, or on any othe~ property of or in the City of Clearwater, but shall constitute a lien only on the net revenues derived from the operation of said Project in the manner provided in said Ordinance. . , . .'. : " I...... ;', ~.\c<, I " .' L " ,~ J The City in said Ordinance has covenanted and agreed with the holders of the Certificates of this issue to fix and establish and maintain suoh rates and oollect suoh fees, rentals or other charges for said Projeot and eaoh and every part thereof and to revise the same from time to time whenever necessary (subject to the provisions of any contracts with lessees or lioensees of suoh Project, or any part thereor,) ae will always provide revonues sufficient to pay, and out of said revenues shall r;s.y, as the same shall beoome due, the principal of and interest on the Certifioates of this issue, in addition to paying, as the same shall beoome due, the necessary expenses of operating and maintaining said Project, all reserve or sinking funds, or other payments provided for in said Ordinance~ and all other obligations payable out of the revenues of said Project and that suoh rate~, ~eea, rentals or other charges shall not be reduced so as to be insufficient to provide revenues for such purposes, and said City has entered into certain further covenants with the holders of the Certificates of this issue for the terms of which referenoe is made to said Ordinanoe. :' -:: ,# ,',' II.' :':':' ,',:{:::/':ii/~.z. , ....~ . _" ~ 1: .,' 1'\"'/'::-\;/: ? I,: <'"':~.\'Z{~;~~Yr3; " ... .,Yi1~,,: . .. . ", "",::<'./,:;:: ; \.,... C)"" . lIlli' I, ,"""""".' ~""'c+('W' \!tlb~7.~':lt~~ r~~' !"j,~ 'i~:. ~I~~'~ ;{j. . The Certificates maturing in the years 1952 to 1955, inclusive, are not redeemable prior to maturity. The Certificates maturing in the years 1956 to 1965, inclusive, are redeemable prior to maturity, at the option of the City on July 1. 1955, or on any interest payment date thereafter prior to maturity, as a whole or in part, in inverse numerioal order, at a redemption price of par and accrued in- terest to date of redemption, plus a premium of three per cent (3~) of the pB~ value thereof if redeemed on or before July 1, 1958; or a premium of two per cent (2%) of the par value thereof if redeemed thereafter but on or before July ~, 1960; or a premium of one per cent (1%) of the par value thereof if redeemed thereafter but on or before July 1, 1962; and without premium if redeemed thereafter; provided that a notice of such redemption sl~ll have been published at least onoe at least thirty days prior to the date of redemption in a financial paper published in New York City, New York. It is hereby certi~ied and recited that all acts, conditions and things required to exist, to happen and to be perfor.med'precedent to and in the issuanoe of this Certificate, exist, have happened and have been performed in regular and due form and time as required by the statutes and Constitution of the State of Florida applicable thereto, and that the issuance of this Certificate, and of the iSBue of Certificates of which this Certificate is one, does not violate any oonsti- tutional, statutory or charter limitation. This Certifioate, and the coupons appertaining thereto, is, and has a1.1 the qualities and incidents of, a negotiable instrument under the law merchant and the Negotiable Instruments Law of the State of Florida, and the original holder and each successive holder of this Certifioate, or of the coupons appertaining thereto, shall be conclusively deemed by hi~ aooeptanoe thereof to have agreed that this Certifioate and the coupons appertaining thereto shall be and have all the qualities and incidents of negotiable instruments under the law merchant and the Negotiable Instruments Law of the state of Florida. The original holder and eaoh successive holder of this Certifioate, and of the coupons appertaining hereto, shall be oon- elusively deemed to have agreed and consented to the fOllowing terms and oonditions: (a) Title to this Certificate, unless registered as herein provided, an~ to the annexed interest coupons, may be transferred by delivery in the manner pro- vided for negotiable instruments payable to bearer in the law merchant and the Negotiable Instruments Law of the State of Florida; Cb) Any person in possession of this Certifioate, unless registered 8S herein provided, or of the interest coupons hereunto appertQin1ng~ regardless of the manner in which he shall have acquired possession, is hereby authorized to represent himself as the absolute owner hereof' J and is hereby granted power to transfer absolute title hereto by delivery hereof to a bona fide purchaser, that is, to anyone who shall purchase the same for value (present or antecedent) with- out notioe of prior defenses or equities or olaims of ownership enforoeable against his transferror; every prior taker or owner of this Certificate, unless registered as herein provided, and of' the annexed interest coupons, ~ives and renounoes all of his equities and rights herein in favor of every such bona fide purchase, and every such bona fide purchaser shall acquire absolute title hereto and to a11 rlghta represented hereby; and Cc) The City of Clearwater may treat the bearer of this Certificate, unless' registered as herein provided, or of the interest coupons hereunto appertaining~ && tbe absolute owner hereof for all purposes without being affeoted by any notice to tho oontrary. This Certifioate may be registered as to principal only in acco~anoe with tne provisions endorsed hereon. . IN WITNESS WHEREOF said City ot Clearwater. Florida. has issued this Certi- fioate and has caused the same to be signed by its City Auditor and Clerk and its Oity Manager, countersigned by its Mayor-Commissioner and its corporate seal to be .~t1xed h6reto and has caused the interest ooupons hereto attached to be executed wi~h ....-.4#"'.-.... .o'#r.tQ. ;.:. . ," .:. , " "!';~i"ii~ii~1~L=:;:'c:~~A~"~;u;",:;. "'''~'''';1f' . '''. ' , . ,. . :, . ~, :"';'f;f~;;- '; . J,t If ,:~;t:'m\' .: . "' .\~, ....~ ./~t:':{~" \~'1 i "", r~;5"'l'\" t:\:. Olo'~' 1:'1i 4 _ ~,~2:~~# 'l#l~~: (~, 1~:11~~ : ~ ,. 't;:{~~.~/ji~;,:!::;~ ,'::j . .('~t~~1(~' ,.',. ; hJ}' i.. " "i :itJiil!f{J , .. ." . '. ....L 1"'"1") '. %:I,)~t;~\!':~ci:j , ... '''. ,.,.; ..,. ,~:... ~.,.. .~'.f irA:f.l ;;:+"~i ~ .' . ,.> . "':; "~.i' . ,,: ;.:](!(f,r.~"~"~" ~~~:~!;t~~/:t,i'>(.~~1~,~:~~~~r~i; :~ ,: " :.:./..~::,...t ~:.~t~~.;.., i.;.~' ..t.t/ " ".-' ~>~:: C7 ',~ I . ; :i;'~':;'{.:::;::;}r;;i~:,.{rii;~~i~~~~i~~:;'''';'H~;i-';"': CITY COMMISSION MEETING August 21, 1950 Ordinance #596, Cont'd. the fao simile signatures of all of s~id officers, all as of the first day ot July, 195Q. FIDRIDA (SEAL) CITY OF CLEARWATER, BY City AuditOl~ and BY Ci ty Manager Countersignedr Clerk N~yor-Commissioner (FORM OF COUPON) $ On the day of g 19 , (unless the Certifica te to whioh this coupon is attached shall have been duly called for redemption and provision tor the payment of the redemption price duly made) the City of Clearwater, Florida, will pa~ to the bearer at the principal office of the ahemical Bank & Trust Company~ in the City of Ne.York, State of New York, from the revenues and special funds described in the Certificate to which this coupon is attached, the sum ot Sixteen and 25/~OQ DolIars ($16.25), in l~wful money of the United States or America upon presentation and surrender of this coupon, being six months interest then due on its Commeroial and Yacht Basin Revenue Certificate, dated July 1, 1950, No. . No. CITY OF CLEARWATER, FLORIDA BY City Auditor and Clerk BY City Manager Countersigned: Mayor-Commissioner (FORM OF VALIDATION CERTIFICATE) Validated and confir.med by decree of the Circuit Court of the Sixth Judicial Circuit of Florida, in and for Pinellas County, rendered on the day of ,1950. Clerk of the Gircult Court of Plnellas County, Florida (PROVISION FOR REGISTRATION) This Certificate may be registered a~ to principal only in the name of the holder on the books to be kept by the City Auditor and Clerk as Registrar, or such other Registrar as may heraafter be duly appointed, such registration being noted hereon by such Registrar in the rep,istration blank below, after which no transfer shall be valid unless made on said books by the registered holder or attorney duly authorized and similarly noted in the registration blank below, but it may be discharged fram registration by being transferred to bearer, after which it shall be transferable b~ delivery, but it may be again registered as be~ore. The registration of this Certi- ficate as to principal shall not restrain the negotiability of the coupons by delivery merely. DATE OF REGISTRATION IN WHOSE NAME REG ISTERED SIGNATURE OF REGISTRAR SECTION 3. hereby repealed. All ordinances or parts of ordinances 1n conflict herewith are SECTION 4. This ordinance shall be effective immediately upon its passage. PASSED AND ADOPTED BY THE CITY COI.iMISSION of the City of Clearwater, Florida. PASSED on first reading August 21, 1950. PASSED on second reading August 21, 1950.. PASSED AND ADOPTED on third and final reading, August 21, 1950... Attest: H. G. Wingo ~ity Auditor & Clerk Harry D. Sarp;eant Mayo~-Comm1ssioner Approved as to for.m and correctness: Ben Krentzman bit,. Attorney -~. '" . 'r;"":,," ....1 ~..: ", . ~. . ,- - ......;; ,. .." -,;"r:. ' ~ :",,1.,. ~; :..\:', '-"-- : ", ,j'" ' '" !~ ""'.....".". ., , . '- . '.:...;~ , j I '. '. j I 1 t a 1 . . j I i j I I f I ! i t .1 \>.. ' ',Virf.\::" ~t:> . J", ~ ,'..' ,\ '" \ .t.:f . ~ . ~:l\: ~;'~?J: 1," ~~'~~~;J:~~~. 'r ' " ,.J.-, "")"'" , ' ",.':\\i/'{' ,. ~,' ~. i ,II, ';' ~Illtll~' t., ,i." '-.'~'. ..." ~. ,(!'.t~L' \ 1-:;,. ,<,:\,,,. t"~~:~~~~~ ,. ..1, .:'lh-'~fff:?'.~" I.C':f,'~V'~'~~i~. : ..j'~ o. .'l,~~l~}l ''''!rr' t:~:~Y~t(~~~i?; ~, ;.~ J~"'!::;t,;".1 "i.}t.'~I,,\ 'i)i~{~rJ$\~~, ,'.., , . ~ I ". '; ,.....' ;,. .. , ~-, . \ . "',.~":J {II CITY COMMISSION 111EETING August 21, 1950 ORDInANCE 1JO. 69'7 AU 01IDll~ANCE AMENDING SECTIONS 5 AND 7 O!i' ORDINANCE 595 ~ AN ORDINANCE m~IA TING TO THE ISSUANCE OJ? $125,000.00 M1JNICIPAL 1JTILITY REVl!";UUE CERTIFICATES BY' AlJEIIDING THE DATES I3Y WHICH SAID CERTIli'ICATES ARE CALLABLE AND PHOVIDING It'OR THE E}l'!i'ECTIVE DATE HEREOF. BE IT ORDAINED BY THE CITY COMMISSIOH OF THE CITY OF CLEARWATER, FLORIDk, AS FOLLOWS: SECTION 1. That Section 5 of Ordinance 595 is hereby amended to read as follow3: ft5. That for the purpose of constructing extensions, improvements and betterments to said municipal utility properties there be and there are hereby ordered issued the nep;otiable Municipal utility Revenue Certificates, Series ot 1950, of said City in the total prinCipal amount of One Hundred Twenty-Five T.hou- sand Dollars ($125,000). Said certificates sl~ll be in the denomination of $1,000 each, shall be numbered 1 to 125, inclusive, al~11 be dated June 1, 1960, and sha.l1 bear interest at the rete o~ three per centum (3%) per annum payable semi-annually on the first days of June and Decemb~r of each year, and said certificates shall become due in their numerical order on December 1 of each year, $5,000 in each o~ the years 1952 to 1956, inclusive, $10,000 in each of the years 1957 to 1963, in- clusive, and $]5,000 in each of the years 1964 and 1965, provided, that said certi- ~icates numbered 21 to 125, inclusive, almll be optional for redemption by aaid City prior to maturity in whole, or in part in the inverse order of their maturity (less than all of a single maturity to be selected ~J lot) on Decenilier, 1955, or on any interest payment date thereafter, end in the event of the exercise of such ri~ht of redenlption o~ any of said certificates as aforesaid said City agrees to pay to the holder thereof' upon redemption of such certificates interest in addition to that evidenced by interest coupons then accrued~ in an amount equal to three per cent (3%) of the principal amount thereof if oalled for redemption on or prior to December 1,1958; two per cent (2%) of the principal amount thereof' if called ror redemption thereafter and on or prior to December ~, 1961; one per cent (1%) of the principal amount thereof if called for redemption thereafter and on or prior to December 1, 1963; and without payment of additiona~ interest if called for redemption thereafter, and said City agrees that notice of any such redemption identifying the certi~icates to be redeemed will be published at least once not less than thirty days prior to the redemption date in a newspaper or financia~ journal of' general circula- tion published in the City of New York~ New York~ and anY' such certificates thus called for redemption and as to which funds for the retirement thereof are deposited at the designated place of' payment on or before such r6den~tion date will oease to thereafter bear interest. Said certifioates shall be payable as to both principal and interest in lawfU~ money of the United states of America at the principal office of Chemica~ Bank & Trust Company, in the City of New York, New York.ft SECTION 2. That Section 7 of Ordinance 595 is hereby amended to read as follows: th]... That said certificates and the provisions to appear on the back thereof shall be in substantially the following fonn: UNITED STATES OP AMERICA STA TE OF }l'LORIDA. COUNTY OF PlNELIAS C rTY OF CLEARWATER lliUNICIPAL UTILITY REVENUE CERTIFICATE SERIES OF 1950 No. $1,000 THE CITY OF CLEARWATER, in the County of Pinellas and State of Florida, for value received, hereby promises to pay solely from the special fund provided there- for, as hereinaf'ter set forth, to the bearer or, if thiB certiricate be registered as to principal, to the registered owner hereof, on the ~irst day or December,]9 ~ the princi~l sum of One Thousand Dollars ($l,OOO) and to pay f'rom sa 1.d. special fund interest thereon from the date he~eof at the coupon rate of three per cent (3%) per annum semi-annually on the first day of ~tne and Deoember of each year until paid, except as the provisions hereinaf'ter set forth with respect to redemption may be and become applioable hereto, such interest as aforesaid as may accrue on and prior to the maturity date hereof to be paid only upon the presentation and surrende~ of ths annexed interest coupons as they severally become due. Both principal of' and interest on this certificate are paY'able in lawful money of the United States or America at the principal office of Chemical Bank & Trust Company, in the City of New York, New York. This certificate is one or an issue numbered consecutively from 1 to 125~ inclusive, issued by said City pursuant to and in fUll complianoe with the proviaiona ot the Constitution and laws of the State of F1or1da~ including the charter law o~ said City, and pursuant to an ordinance duly adopted by the City Commission or said City. The issue of' certificates of Which this certificate is one has been authorizo~ and isaled for the purpose of paying and f'inanclng the cost of improvements~ better- ments and extensions to the municipal utility properties of said City, supplying water, gas and sewage services. It is provided in said ordinance that the Commission of sald City shall fix and maintain rates and collect charges for the facilitiea and aervices arforded by said utility properties suffic1ent to provide revenues adequate at all tbnes to pay the cost of' ope~atlng~ maintaining and repairing same, and to pay into a spacial fund created by said ordinance amounts tully sufficient, arter allowance f'or such oosts of operation, maintenance and repairs~ to provide for the """ tl. '. " .:. : !;':' ;' ,~~ :.:1 . I ~ ._, ,- .~. ,~",\~;::;;;(::;- [-::::"J ",,, ,/., -,.i ~'.,: ;... ! ; , I 1 11 : . 'I' 1 ; , I . ~ 1 1 I I I 1 I i I I I I 1 'IJ I . ; i , I . 1 ,'" . ", . ~ < '. . .', . ......_"',...,"!-"k~;0~t~~~~'~:';7r~~~~~; 'I:,,' -.: , I .., ~ \.. i CITY COMMISSION MEETING Alug\lst 21_ 1950 Ord~nanoe #597, Cont'd. prompt payment of the interest on and principal or said issue of certificates and all other oortifioates issued on a parity therewith under the restriotions and p~o- visions of said ordlnance; including an authorized .:Issue of $525_000 JlunlolpalL utility Revenue Certifioates dated December l., li9C'7~ of which e473,OOO are out- standing ss or the date hereof; provided, said City has outstanding oertain Water Revenue Certifioates, Gas Revenue Certi~ioates and Gas Plant and Sewer System Refund- ing Revenue Certifioates, which by their ter.ms ara payable from and secured by a first ohnrp,o on and pledge of respectively the revenues derived from the operatIon of the water works utility properties, sewer system and the gas plant and system of sald City remaining after J:Elyment of costs of operation, maintenance ard repairs of those respeotive portions o~ said municipal utility properties, and pay,ments into said special ~und as aforesaid are subjeot to the vested ~ights of the holders of such of said Water Revenue Certif"ica tas, Gas Revenue Certifioates and Gas Plant and Sewer System Rerunding Revenue Certificates as may be outstanding ~rom time to ttme. This oertirioate, including interest hereon, is payable solely from said spec181 tund and does not constitute an indebtedness of said City within the meaning of any conBtitutional, statutory or oharter l.imitation. The City of Claarwate:r is unCJeX' no obligations to pay this oerti~loate or interest thereon except fra.m the revenues or the munioipa1 uti11ty properties as a.foresald. Certificates of the issue of which this certificate 1s one, numbered 21 to 126. inolusive, are optional for redemption by said City prior to maturity in whole, or in part in the inverse order of their maturity (1ess than all of a singl.e maturit~ to be selected by 10t), on December 1~ 1955, or on any interest payment date there- after, and in the event of" the exercise of such right of redemption of any of said oertifioates as aforesaid said City agrees to pay to the holder thereof upon redemp- tion or suoh certificates interest in addition to that evidenced by interest cou- pons then accrued, in an alllount equal to three per cent ot: the principal amount thereof if called t:or redemption on or prior to Deoember 1, 19Sa; two per cent of the pr.inoipal amount thereof if called for redemption thereafter and on or prior 'to Deoember l~ 1961; one per cent o.f the principal amount thereo~ if oa1led for rodemption thereafter and on or prior to ~cember 1, 1963; and without payment of edd~tionQl interest if called for redemption therearter~ and said City agrees that notioe or any suoh redemption identi~ying the certificates to be redeemed~ will be published at least once not less than thirty days prior to the redemption date in a newspaper or financial journal of general circulation published in the City of New York. New York. and any sucn certi~icates thus called for redemption and &s to whicn funds for the retirement thereof are deposited at the designated plaoe of payment on or before such redemption date will oease to thereafter bear interest. This oertif~cate with interest ooupons hereunto appertaining iB issued upon the following terms and conditions to all of which eaoh taker and owner hereof and of the interest coupons consents and agrees: (a) Title to this cert~ficate~ unless registered as herein provided and to the annexed interest coupons may be transferred by delivery in the sane manner as a negotiable instrument payable to bearer; (b) Any person in possession of this certificate, unless registered aa herein provided~ or of the interest coupons hereunto appertaining, regardless of the manner in which possession shall have been acquired~ ia hereby authorized to represent himself' as the absolute owner thereof and is hereby granted power to transfer ab- solute title thereto by delivery thereor to a bona fide purchaser, that is~ to anyone who shall. pu.rchase the same for value (present or antecedent) without notice of prior defenses or equities or o~aims of ownership enforceable against his transferror; every prior taker or owner of th~8 certificate, unless registered as herein provided and of the annexed interest coupons, waives and renounces a11 of his equities or rights therein in favor or every such subsequent bona fide purchaser, and every such bona fide purchaser shall acquire absolute title thereto and to all rights represented thereby; and (0) The City of Clearwater may treat the bearer of this certif1cate~ unless registered as herein provided, or of the interest coupons hereunto appertaining~ as the absolute owner thereo~ for all purposes without being a~fected by any notice to the contra ry. Al~ acts, conditions and things required by the Constitution and laws ot: Florida, and the charter of said City to happen, exist and be perforllled precedent to and in the issuanoe of this cert1ficate, have happened, exist and have been perfor.oed as so required. This oertificate is registerable as to principal alone in accordance with the provisions endorsed hereon. IN WITNESS WHEREOF said City o~ Clearwater has caused thia certificate to be exeouted on 1 ta behalf by its City Auditor and Clerk and its 01 ty ~lanager, counter- signed by its Maycr-Commlssioner~ under its oorporate seal, and the interest coupons hereto attached to be executed with the facsimile signatures of said offioers. all as of the first day o~ June, 19500 .... ....., "1:'ri,~_, ~ 'j: , .':!: ' ~?r;~f~fl: I .' h j '; . ';:,".':.'i ,': I ~ ! '.' ,,:".';' }/:' I 1 j'.': _'..J>~ ';: .....' .:' '" ,',. ',' 0- .' ~ : ":};""~~\.. .' :~:,,::::<:,,~:~::, !;", \ I ,\!. "\I ": ;~1 ..; ~\, iiii~~}.f!:i; I ",." ", ,v , ::,:: ,<::;>,;:yr:: I '" .. }."" """" ": ,',{,\j~?' 1 '~~~:.?' ~i.:~';{:}(.:... ..' ';i~:',)~:ii . : ':~>4" ::;~:<:.:,~ ~~~r\"" I "";"r."~"",;,,,,, 'jf1~1Jf'i(. , l.......'..'...~.""'~ . """t , ,..,i' J)..,,,. ~I'\)i~f Da te of Registration '" ,- " " '~~'.".~. ~..... :...:: .. ~., ", :; r; ~j OITY COMMISSION MEETING August 21.. 1950 Countersigned: City Manage]!" "~1~i .' jJ .:.~. 1'~ t . ) i , 1 { 'J .1 ;l~ '..; ''':', ... . . ,\. i .~ .' . '.; ':" . Ordinance #597, Oont'd. CITY OF OLEARWATER, FLORIDA BY City Audito~' and Clerk BY .,'< > Mayor-Commissioner i ......: :', '. . ., i . . ~' I .. t i I t (FORM Ob' COUPON) NO. $ . ,'. '.' . ,.... .", City Manager ( +,... '~'~i? l.'~, K".' f~~~.' .... '", On the first day of ,195 J the City of Olearwater, Florida will pay to bearer at Chemical Bank & Trust Company, in the City of New York.. New York, the sum of Fifteen Dollars ($15.00) solely rrom the special fund referred to in and for the semi-annual interest then due upon its Municipal Utility Revenue Certificate, Series of 1950~ dated June 1, 1950, NUmbered . City Auditor and Clerk Mayor-Commissioner (FOInt OF VALIDATION CERTIFICATE) Validated and confirL1ed by a decree of the Circuit Court of the Sixth Judioial Circuit, in and for Finellas County" !t'1).orlda" rendered on the day of " 1950. '. . ," Clerk of sa id Circuit Court (CERTIFICATE OF REGISTRATION) >. .. ";~;~~~'~1'u'''~:~;~:~::''I..\:V~,~~ :\\l\ti''fij This certifioate may be registered aa to principal on the books of the Oity Auditor and C1erk of the City of Clearwater and notation of suoh registration nade hereon, and this certificate may thereafter be transrerred on said books by a written asaignment by the registered owner or his attorney" duly acknowledged, or proved.. and notation of suoh transfer endorsed hereon. Suoh transfer may be to bearer and thereb:JT transferabi11ty by delivery shall be restored" subject, however, to successive registration and transfer as before. The prinoipal of this certi- fioate~ if registered, unlesa registered to bearer, sha~l be payable only to the rep-istered owner, or his leRal representative" but the coupons appar~lnlng hereto will remain payable to bearer, notwithstanding registration of this oertificate. Name of' Registered Holder Signa ture of 01 ty Auditor & Clerk . . . . . . . . . . . . . . . . . . SECTION 3. A1l ordinances or parts of ordinances in conflict herewith are hereby repealed. ~': ; ., I' " . . '., .,\' , """';i~W.~t;,~~)!:C':':;'~"~:ii;:;j'~iJ';" "j I / w r...~ 7." 4; CI~Y (JO~lISSION MEETING August 21, 1950 ORDINANCE NO. 598 '. . . '" ':.... ~. ~;;:\ !) j \....."..>' ~............ AN ORDINANCE 01" THE CITY OF CLEARWATER, h~ORIDA DE}4'INING COllMUNISM; EXPRESSING A CLEAR AIID PREBEl-lT DANGER THERE- FROM; REQUIRING MEMBERS OF TIm COli!l)~UNIST PARTY AS DF.J.i'INED BEREIN TO REGISTER IN THE OFFICE OF THE CHIEF OF POLICE 01<' SAID CITY AND THEllliAli1I'ER TO COMPLY VlITH THIS ORDINANCE AND FIXING THE PENAL'lY FOR VIOLATION OF THIS ORDINANCE. { ',:'. WHEREAS the Governnlent of the City of Clearwater, Florida is estab- lished under the authority of the State of Florida; and WHE~S the state of Florida is itself constituted on the fun- damental basis that juatice be established, publio order be maintained and liberty perpetuated; and WIIEREA,S the political ideology which includes in ita tenets the en- foroed rule by one political party of state socialism with its attendant practioes of supremacy of the state, suppression of individual rights and support of atheism is known and is herein derined as Commun~sm, and ia opposed, hostile and repugnant to, and destructive of, our expressed basic foundations; and .. , \~REAS the objectives of the Communist Party in the United state. and of its officers and members are to advance and pramote the objectives o~ the a~oreBaid politioal ideolOGY and to defeat contrar.1 objectives of the United States of America, by means of force, violence~ treachery~ de- ceit~ espionage, sabotage, terrorism, cr-eation of fear, destruction of morale and the eventual overthrow of the United Sta.tes' Government by foroe, and WHEREAS groups or individuals. either organized or unorganized. which support the same political ideology as that advanced by the Communists, with- out actually identifying themselves as such, by advocating non-compliance with the national defense effort of this country and similar actions whioh enlarge the existing emergency, actually aid and abet the Cammunists, an~ should be and are so olassified and considered in this ordinance. WHEREAS Communism as herein defined constitutes a olear and presen~ danger to our Democraoy; and to the peace, safety and general welrare of the citizens of the Oity of Clearwater, and WHEREAS the City of Clearwater, Florida is chargeable with the re- sponsibility of preserving the individual rights guaranteed by the Consti- tution of the State of FloI'ida, the Constitution of the United States of America and our Declaration of Independence~ now therefore, BE IT ORDAINED BY THE CITY C011MISSION OF THE CITY OF C~RWATER, FLORIDA AS FOLLQ,WS: SECTION 1. Hereafter it ahall be unlawful for any person~ group' of persons or oorporation, either singly or collectively, to prarrlote~ advocate, support. encourage.. advert:1.se, disseminate or otherwise advance e:i.ther by words, signa, gestures, writings7 pictures or other form of conununica,tion the political ideology known as Communism as herein derined within the 1:1:mits of said City. SECTION 2. It sl~ll be prima facie evidence tr~t a person 1s a ~em- ber of such Communist Party if he shall engage in the ciroulation or distri- bution of any printed or written nlatter issued or purporting to have been. issued by or over the name of such Communist Party or any branch thereof. or if he shall engage in tho circulation or distribution of any printed or written matter issued or purporting to have been issued by or over the name of any organization whose policy is oontrolled by any person or person~ es- tablished to be or to have been a member or officer of such Communist Party by proof other than the prima facie evidence referred to in tIlls seotion. or if he shall be found in ~ny secret or nonpublic plaoe in voluntary asso- ciation or oommunication with any person or persons established to be or t~ ha. ve been a member of such Connnunist Party by proof or other than the prima facie evidence referred to in this section. SECTION 3. Every member of the Connnunist Party.. Communist or supporter of the Communist political ideology herein defined~ who oanes into' the City o~ Olearwater, Florida from any point outside of such City, whethe~' in transit through said City or otherwise, shall report to the Ch~ef of Police of the City of Clearwater, Florida within forty-eight (48) hour~ arte~ his or her arrival within the boundaries of said cltY8 and shall fUrnish to the Chief of Police in a written statement, signed by such person, the true name of such peraon~ and each other name or a~ias by ~lich such person is or baa been known, a rull and oomplete description of htmself or herself, th9 place o~ plaoes where he or she has been within the preoeding n1net1 (90) days.. together with the location or address or his or her residence, stopping I' ,:/::,~"~:'~, " .,'...\r. -3.5"- CITY COMMISSION MEETING August 21, 1950 I ' '.t;~:, ~ ," .' . ~ ~;. . ,~ "'. { '{~~~f:~~:~~;j?~? ~\. i:l '.f.!"~"""H "l"'(t~'~ . ,;rl~\~~~:!)i~~i. . ' "'1(... .. ~ ", ~ 'li" ..,\ , .' :~g\~rft;!~~{';; " " " """~ ,. . , 'j <;'<. ""[.,:: Ordinance No. 598~ ContU. place or living quarters in said City of Clearwater and each one thereof, with a description of the character of each such pla ce, whether a hotel, apar'tment house, dwelling house or otherwise, giving the street number thereof, if any; or any description of the address or location thereof as will so identify the ~ame as to make it possible for locatlon, and the length of time for which he or' she expects or intends to reside within the territorial boundaries of the City of Clearwater, Florida. At the time oC furnishing sueh information said person shall be photogr~phed and finger~rinted by said Chief of Police, and said photograph and fingerprints shall he made a part of the permanent records of the Police Department of the City of Clearwater, Florida SECTION 4. Every person residing within ~le City of Clearwater, Florida, at the time this ordinance becomes effective, who 1s a member of the Conununist Party, is a Communist, or who is u supporter of the Communist ideology, as defined herein, shall within forty-eight (~B) hours from and after the effec- tive date hereof, furnish to the said Chief of Police, 1n a written statement signed by such person, all of the information required to be ~urnished under the provisions of said Section 3, and together with the occupation or employ- ment in which the said persons is now engaged, the name of the employer, the business engaged in by said employer, and the nature and character thereof. SECTION 5. Every person corning under the provisions or Sectl.on 3 and ~ hereof shall after the registration as provided therein thereafter during their residence in sald City make weekly, personal appearances at the City Police Headquarters at such re~sonable times as may be prescribed by the Chief of Police for the purpose of keeping said registration record current. SECTION 6. Prior to leaving the City limits of said City for any pur- pose, every such person herein specified as required to register shall record with the Chief of Police of said City his or her date of departure, destination, and approximate date of return. SECTION 7. In the event that any person herein specified as required to register~ shall change his or her place of residence~ stopping place or living quarters to any new or different place or places within the said City of Clearwater, Florida, other than the place last reported to the Chief of Rllice in such report herejn provided for~ such person shall, withIn twenty- four (24) hours after removing himself or herself' fpom the place of abode first -given, notify said Chief of Police, in a written and signed statement of such change of address, and shall furnish in such written statement to said Chief of Police his or her new address, and each one thereof. SECTION 8. It shall be unlawrul for any person required by any pro- vision of this ordinance to furnish any such information or report to fail, neglect or refuse to make such repor.t, or to furni sh any such information, photograph or fingerprints~ or to fail~ neglect or refuse to render or furnish the same within the time prescribed in this ordinance, or to fail, neglect or refuse to furnish to said Chief of Police within such time, any information~ photographer fingerprints required to be furnished by any provision of this ordinance, or to furnish any raIse, untx'ue or ml sleading information or state- ment relating to any information required by any provision of this ordinance to be made or furnished. SECTION 9. If any section, sub-section, paragraph, sub-paragraph, clause, word or phrase of this ordinance be declared by any court of competent jurisdiction to be unconstitutional, it shall in no way affect the validity of the remaining portions of this ordinance. SECTION 10. Any person guilty of violation of any provision of this ordinance shall be punished by imprisonment fur not more than sixty (60) days. SECTION 11. This ordinance is hereby declared to be an emergency ordinance, which shall take effect upon its passage as provided by law. PASSED ON FIRST reading, August 21st, 1950. PASSED ON SECOND reading, August 21st, 1950. PASSED AND ADOPTED on third and final reading, August 21, 1950. Harry D, Sargeant Mayor-Commissioner Attest: H. G. Wingo City Auditor and Clerk '" !~~~~!\!\~i;i,~i~}i ,.: I' ,," """"'il'"',' ' . ~'.' "v \.'..' ~...\'1t%(~hV","~ ,.,' l~~~:#~W;i : � /� CIT3C COMMISSION ME�TING .Au6uat 21, 1950 The City Comn3ssion oP Clearv�ater met in regular sesaion at City Hall, Monday, August ?lat,, 1950, with the followirl� members preaent: Herry D. Sargeant Herbert �I. Bro�vn E. B. Casler Jr. Leland F. Dretg Joe Turnex Absento None Also Present Vleree Boyd A. Bennett George T. hicCl�rrmia Ben Krentzman -May or� C ounn,is s i oner -Cormniasioner -Corrnttiasioner -Cormnissioner -Co�rnnissionar -Qity b4anager -Chief of Police -City Attorney The raeeting wa�s called: tn order by the nlayor Cormnisaioner, who asked if there ware any alterationa or correetions of trA minutes of' the regular meet- �n� o£ August 7, thA special meeting of Auguat 14th, or the spe�ial s�eeting oP August 17th. There being no corrections, the minutes vrere approved. C3ty Attorney Krentzman reported that the advertise�ent o£ the Publie Hearing on the Cypreas Street Sanitary Sewer had not appeared �en days pri�r to the dato set as required by the �it� Charter and he suggested tY� t the date of the Hearing be ra-set for the next reo lar meeting oi' the Co;;unission. Com- miss�oner Drepr, moved that the next ragular meeting oi' the �o�ission be held Tuesdsy, September 5th, as the first MondaSr in Septiemner is a holiday, and that the Public Hearing on the Cypress Street Sanitary Sawer be re_�et for t}�at date (September 5th). The motion was seconded by Co�iasione.r Turner and carried. On a motion by Co�nnissioner Drew, which was seconded by Comniss3oner Brown and carried, the report of the County Service OPficer ior the month oP J'uno was accepted, City Attorney Kr�ntzman reported on the recoaunendations made by the Gom- mittee for changes in Ordinance #421, relative to the cutfiing of curba and stated that the Cormnittee+s reco�nendations had been forwarded to the ldichio Fublishing Ca�pany for incluaion in the codification of �ity �rdinances. Com_ �iesianer Casler moved the,t the Co�unitteets regort be ado�ted. Th.e motiort was seconded by Coa�unissioner Brown and carried unanimously. 1'he City bSanagsr submitted a tabulation of bids received for i;he construc- tion of San3tary Seyrers on Somerset Street and Bsy Esplanade as follows: So�ersst Strest i3ag� Esplanade Boycs Compsny �1500.2:0; �1483..�5 IvIariani..OtBrian Go. 1690,00 1706.00 Stansfield Constructian Co. 2101.60 2046.00 Co�niesioner Casler moved that the contract on both jobs be awax�led to the Tow bidder, Boyce Company. The motion was seconded b9 Conmissioner Drew and carried una n3zr_ously o Tha C3ty htana�er submitted copies of plana drav�n by Architect Herbert L. F13nt, �.n 1947, for the devalopiuent of Coachmar. Park. Co�anissioner Casler moved that a permanent Park Connnittee ba s,ppointad by the Ms�yor; the Corrmittee to study plans �'or the devslap�ent of a11 Ci.y Park properties and to make reco�endations as �o how appropriations for Park purpo3es nay be used to the best advantage. The motion was seconded by Comnissioner Turner and carried. The hiayor appointed �om- missionera Urew, B.rown and 2'ur:�er to txie Co�ittee. The Clerk read Ordinance �598, an Ordinance defining Connunism and requ3rin� registration of sub�versives, aubmitted by Co�,-miissioner Casler. Comnissioner Casler moved that Ordinance #598 be passed on the first reading. Corrunissiqner Turner seconded the mo�tion and i� carried� Upon roll oall IvIayor-Cosmnissione� Sargeant and Cormiissioners Brotivn, Casler, Drew and Turner voted "Ayo". There v�ere none opposed. Connn,issioner Cagler moved th��t the Ordinance be passefl on tlie second reading, by title only. R'he motion wqs secor�d.ed by Commissioner -Browra anefii carried. On the question, CoaQxi3ss3.oner� Brown, Casler, Dre�v, Sargeant and Turner voted Aye . There were none opposed. Co�issioner Casler moved that Oxdinanea #598, be passed on the th3rd reading. The motion wa� seconded by Co�nniss�ion�r Turner and carrie�, On ro11 call tha foll�wing vote was registered: Aye�, Broarna CAslerr Drew, Sargeant. and Turner. ��No°, r►one9 whereupon the T�ayor declared the Ordinance adoptede The City Attorneg submitted Ordinance #596, �n Ordinance amending Ordinanee #594, by advancing one year, the date an which certain certificatea are redeemable. Corrnnissioner Casler m�ved that Ordinance #596 be passed on the Pirst reading. The motion wa.� seaonded by Commissioner Turner and carried. The follo5+ring vote was recoraed: Ayea, Cosmmissioners Brown, Casler, Drew, Sargeant and Turner. "No�', none. Comm3ssioner Cas�.er moved that Ord3nance �596 be read the second time, by tit-lo only. Co�nissioner Turner saaonded the motion and it carried. Counnissioner Drew moved that the Ordinsnce be p�ssed or. the second reading. The motion was aeconded by Coumiiasioner Casler and carrisd. On roll call Coimnission�rs. Brown, Casler, vrew, Sarge&��at and Turner voted ��Ave��'. There were none opposed. Com- missioner Drew moved that Ordinsnco �596 be passed on the th3rd and fineal raad- ing. The motion was aeconded by Commiss3oner Turner and carried. The following vote was recordeds s�Ayea", Coxm�issior�ers Bro�m, Casler, Drewy, Sargeant and Turnere The biayor declared the Ordinance adopted. �� CITY CO2�4MISSION A4ELTING August �;1, 1950 The City A,ttorney now presented Ordinance #597, an Ordinance amending Section� 5 snd 7 of Ordinanoe �`595, by ehang3ng the dates on which aertificates may be redeemed. CoAnnissioner Drera maved that Ordinsnce �'i97 be pe.ssed An the iirst reading. The motion �vas aeconded bg Comniss3oner Cas3.er and carried. On rol7. call, Connn3sa3oners Brown, Casler, Drewr, Sargeant and Turner voted Aye. There ti�ere nane opposed. Cormnissioner Casler moveci that the Ord3nance be read the secsond time, by title on1y. The motion �vas s�conded by Comanissioner Turner and carried. Coirnnissioner Gaslar moved that Ordinance �`597 ba passed on tha second reading. Cor�nissioner Turner sseonded the motion and 3.t carxied. The following vo�e w�s recorcled: 1°AyesS1, Couaniasioners �3rown, Csaler, Draw, Sargean�t and Turnere ��No1°� nonee �orrunissiont�r Cesler moved that Ordinanae #597 be p�ssed on the third reading. The motion waa seconded by Comnissioner Turner and carried. Commissionere Brown, Casler, Drew, Sargeaiib and �urner voted nAye�'. There were none apposed. The l�syor declared the Ordinance� adopted. On a motion by Connui�isioner Drsw, seconded by Coannissioner Ca91er and carried, the Co�nission gave a vota of thanl�s to Cormnlssicraer Brown for calling attantion to the discrepancy between the Ordinance and tho bid on the matter of cal].able datas for the Revenue Certificates. The Clerk read a letter addressed to the IvIayor by h1r. Waxren Denmsn, in which Ivtr. Dernnan complained of the unkempt appearance of a� lot adjoining his pro�erty and request3ng that the City hava the lot cleaned. Couuni,ssioner D�.�ew moved that the matter be r�ferred to the Cii;y tvianager for a Resolution to be s�u.a- mitted in �he regular manner. The motion was saconded by Cor.unissioner Turner and oarried. The Clerk read the copy oi a lotter addreseed to the Cliief of Polic� by b4r. Harold Harpham, in srhich Mr. Harpham complained of traific conditions 8t Sun- burst Court and Fort Harr3son Arenua. On a motion 'by Conm3ss3oner Caslera seconded by Coirnnissiones 7.'urner and carried, the matter was referred to tlze Chief of Police. Commissioner Brown, addrass9.xig the other members of the Co�iasion, cr3ticized the manner in v+hich the �3ui13ing Department handles inspections and permits, the manner of en�orc�ng the Sign �rdinance and conduct of the Sax�itary Department, He said the blame fell on the City IvIanager for not exercising the proper supervision over tha different departments. A lettex�addressed to the Coimmission by Attorne� Ralph VP. Carson, enclosing proposed leg3slation advocated by the Federation of Civic Clubs fos prohibiting Coffinercial Net Fishing in Clearraater Bay, �vas read to the Coirnniss:ton. Commissioner Casler moved that the matter be referred to the City Attorney i'or consideration by the Coimnission at the time matters are prapsred Por action by the State Legis- lature. The motion was seconded by Co�issioner Turner and carri�d. Commissioner Drew asked that the C3ty Attorneg report on the matter a+ the naxt meeting. The City Attorney reported tY�at our present Ordinance does not restrict the erection of reasonable price signs in Front o#'I�iotel�, and it is his opinion thatt the City cannot enact valid legislation �onpletelg ,prohibiting such sigtis. Com- miasion�r Gasler movea that the report of the City Attornay on the S3�n Ordinance be accepted. The motion was seconded b� Go�nissioner Turner and carried. The Gity i+4anager xeported that tests made at �'learwator neach diaclosael; a Ioss of �8� oP the sand in �ront of the Parlt, South of the Pa1m Pavilion, and a loss of 43� at Everinghamts Pavilian. Cormnissioner Drew repor�ed that the Corarnittee had expect;ed to mest vJith IVIr. Grover C. El�ridge tris date, but due to B4r. E7.dridge being out oi' town, the maet- fng had to be postponede The Committee exp�3cts to have a meeting with Nra E'ldridge Thursday, August 24th. The Clerk submitted an oPfar by R�lph Carter Por settlement of delinquent taxes on Lot 11, BZock B, Fairmont Subdiviaion, for the a�aount oi'�pZ00.00, Com- missioner Dreur moved t)aat the payment be accepted if payment i� made on aai property ovrned by hir. Car�er. Tha motion tivas seconded by Couunissioner Brown and carried. The Ch2ef of Police, having invest3gated the requeats for s fifteen minute Parl�ing Space in Pront of IsicGee �lectric Company and a fifteen minute Parking Sp�ce in frant oP Gulf Automotive Gompanys recorranended the �ranting of the requests. The matter waa deferred, by consent, until the results of a TraYfic Surveg con- ducted by the State Road Department are known. On � motion by Coimnissioner Drew, �econded by Commiasioner BrQwn a nd carri�d, tYie meeting was ad journed. Atteatc ��i� ` O City Auditor a Cl�:.rk _ --�� . ../:J� it'!!!�:..� �.�rf� �" /L • r � • - I / C2'Fi' CdMhi'I�STON MEETI2d(3 August 21, 1950 Nlayor-Corrunisaioner Harry D. Sargeant Commissioners: Gentlemen; Island F. Draw E. B< Casler Herbert M. Brotim Joo Turner A�ugust 1:8, 19SU A regular �esting of the City Coimnission will ba held at '7330 P. Ri. in the City Ha11 on August 21., 1950. BABs�g Yours very trul�, Bogd A. Bennott, CS.t;� I�ianager �AGENDA--------__ __ 5��9s I. Readin� oP minu�es oP regula"r meeting Auguat '7, spec3:a1 meeting August l� and special meeting Augus� 17. 2. Public Hearing on the construction o#' saraitary sewer on Cypress Street which was ordered at the m9eting of 4�ugust 7� 3. Report of Veteran Service dfYicer for the �onth oi Juae. 4. Report of the canmlittee composed of Co�mnissioners Drew, Bro�an and Turner on review of ordinance 42,T regarding permits for cutting of curbs in the City Sttreets. 5. Citq Attoxney►s report on investigation c�f the posgibility of prohibiting cer- tain t�pes o.� signa by ordinance called to the attentipn of the Commission bg hir. &Iercex at the meeting of August 7.� 6. Consideration of Federation oP Civic Clubs proposed statute �elative to net f3shing in Clearwater r'Iarbor,. 7, Consideration of letter from Pinellas Count�* Haulth Departnent relative to Clearwater Typhus Control ordinance�566. 8. The following water and gas main extensions less than �p300.00 vehich v,rere approved by the Citq &Ianager: Jul,y 31, I950 80 fte of 1° gas main on B ay Havan Drive to serve t�ro (2) customars et estimated cost of y�'40,00. Jul� 21. 1950 80 J't of I:Qn tivater main on Bay Haven Driva to serve two customers a� estlmated cost of $�EO.OQ. ��- 190 ft. oi' 2�� water main on Somerset Eas� o£ hiandalay Boulevard, to serve one customer - estimeted cost of �135,00. Jul� 22 , 195Q 150 ft of 2' wa� ter ma3n on Poinssttia to asrve one (1) custozner at estimated cost of �100.00. Jul;y 21, 1950i 400 ft. oY 2'� water main on Cypreas Street to serve one custom�r - estimatad cost �265,00. Jul,q 273 1950, 400 ft. af 2�' water main ('200 ft. on Harbor Drive and 200 ft, on N. V�ash- ington to serve one customer at estimated cost of �255.00. July 20, 195Q S00 ft. of 2�' water ma�.n on 4Voodlawn Street to serve one customer - e�t�atea �o�t �so.oe. 50 �t. of 2�� water main on Spring Road at estimated cost o� �50,00. Au�ust 3, I950 65 ft. of 2�'tvater main on Plumosa South of GulY to Ba� Blvd. - to serve one customer at estimated cost of �50.00. August 18t 195Q 450 ft. of 2�� water main on Poinsett3s South of 5onerset� 50 fia o� 2" cvete�e� main on Somerset St. east of Rianda�.ay. 275 ft. of 21Q water main on Florida Awe. Soe to Gu1f to Bay at estimatad cost of �170.00. 9. Considerat3on of 500 ft of 611'vrater main on Ba� Eaplanade southerly �nd wasterlg from the presen� m�in on Be;y Es.planade to serne one customere Eatimated Cost oi �1200e00. I.O. Conaideration of 275 �t. of 6�'' water main on Lake Ave. (previousl,q knotvn as Wood Drive) South from the G'�'main on Walnut S�rest, to Elmwood �`treet, aonnecting to the 2"� main on Elmwood, Th18 installation is to $ive reTief to castomers on the easterl.y ond of Elmwood as tha present main� are not large� enough to iizrnish the servica after 5 F,I�4. whon others are spri�kling on thi�� street. Eetimated cost - �775.00. ll. Considera�ion of 200 ft. of 2�� water main on Phoer�ix Avenue - 526 ft. of 8n' ma3n ora Dru3d Road, 360 ft. of 2ry main on Woodruff Avenue, 2�Q; ft. of 2�' ma�!n on Keene Road to �zrnish water yervice 3n Oak Acre Subdivi�ion. This -�_ cz� conu�zsszorr ��E�zz�a Au�ust 21, 195Q AGENIiA, --Cont�d. m�in will run southerly from the end of �he pres9nt main on Phoenix Avenue to Dru3d thence easterly on Druid Road to V�oodruff �venue and �eene Avenua and will f`urnish rvater service the completo length of Phoen3x Ave,nue to Gulf to Bay Blvd, to Druid Road and to lots on Wor�dru£f Avenue and Keene Road. Present appllcations cover three (3) customerso The estimated oost is y�2:,600.00. 12R Presentation of report from State Road Commission on study o� �rafYia co�s- gestian of Ft. Aarrison Avenue and Cleveland Street and auggeated plan for relievin� t:ne aituation. 13. Consideration of offer of tax sattlement af Lot 11, Hlock B, Falrmont Sub- divisinn by Ra1ph Carter. 14. Presentation of Florida Railroad amd PuUlic U�ility Co�rnnissions order on the application of RailwRy Express Agency for authority to incresse intra- steite rates. 15. Presentation oi notice oi a hearing before the Florida R.R„ and Public TJtility �om�iasion on the application of' the Seaboarcl Airline R.R. to operate an auto transpor�ation company as a cormnon carrier nf freight be- tween Tampa and Clearwater a nd between Tampa and St. Petarsburg, 16. Repart of the City D�fan�ger on parking on the east side ni Garden Avsnue, requeated bgr Gulf Automotive C�pany and IvlcGee Electric �ompany. 17. Presentation Ur Clearweter Ckuamber of Commerce annual audit by certifiedi gublic accotintaa� for the caTel�dar year ending Dacember 31, 1949. 18� Report of the coannittee - Commissioners Arew and Brown on the �atter of ace�uir'ing prope.rty on the east side of I�4yrtle Avenua from the- Eldridge Est�te and from b4r. Eldridga6 �8. Report of City I�iana�er on condition of sand fi11 on the beaches�as ahown by recent cross-section� tRken by the Engineering Department. 20. Report of bids received on 9fl1��'t&I'j�' setivers on SoMarset Strse� and Eay Faplanade. 2I. Notice from the Florida Railroad Public 'Utility Cozrnnission of the continuation of tha hearinga on the PeninsuTar Telephons amended petition for increase in rates set for 9:3Q A+2d. Tuesday, September 12,: in the City Hall - Tampa, Fla. 22. Consideration of ia*�dscape Architect Aerbert L. Flint�a plans for the deve�op- ment of Goachman Parl� which �vere drawn by him in 1947 e�t the request of the Gity. Cor�nission sitting as trustaes for the Pension Plan. 7-22-50 Inter-Office Communication To City Manager Bennet� From Chief h3cClanunai S'ubjoct Parking on East side of Garden Avenue Having made investigation of parking conditions on East side of Garden Avenue, between Park and Pierce Streets, and have contacted all %�erchants in this b locko After explaining the traffic situ.ation and givin� aonsideration to their re-• questa, I hereby recommend Lhat one (1) 15 ninute parkin� space be granted in front of i�cGae Eleatric Co�r�p�n�, and one (1) 15-minute parking space be grante� in Pront of Gulf Automotive Company. I�irm Hershock does not request a sirs�ilar parking spaca in �'ront of his l�us3ness. zt is my opinion that the above recoumiendations will solve the parking pro- blem in that area at tk�i.s time o Reapectfully yours, Signed: Geo. T. McCTaffina, July 18� 1950 To Chief M�cCla�zna Fro� rir. �Bennett Attached is original letter from the Gulf Automotive Co., 115 So. Garden �:�.va., dated July 17, relative to park3ng on east aide of Garden Ave. �1d311 gou please maka a study of thia matter and ac�vise qour recoiruaendations rola- tive to same, with the rezurn of this letter. - 5- CI't`Y CUM2�IISSION I�IEETIZJG Au6uet 21, 1950 Mr, Bogd Bennett, City Managar, C1��rwater„ Fla. Dear Sir: July 17, 19�Q About a year ago an ordinanc� vra� passed stopping parking on the aast side of Garden Ave. Th3s has seriously afPected our business as approximately 90� af our busineae comes from garaga men 3riving up in cars or trucks after parts or equipment. The McGee Electric Company next door have a space reserved for truck parking. The 4lesrwa�er Feed Stora on the other side of us l�ave a 15 m3nute parking space for customers. Many o� our customers stop in front oP our atore 3n trucke because the street marking is confusin� and Officer Dyal immadiately tags them for parking in a no parking epace. Pfe immediatelq lo3e thei.r busineas because �11 oP our conrpet3to�s have available parking �paces at their storea. The h7eGee Electric Couxpsny would like to hava their space changed because some of the3r custo�ers stop in the truok space in their passenger cars and �fficer Dyal also gives them a ticket for parking in a truck space. Putting metors in front of the store �vould not anativer our problem as no one wanta to deposit a coin for stopping just a minutt for parbs and would only tlrive awa� mor� of our business. We request tkua� you put a 15 minute park3.ng space in fron� oP the store, The McGe6 Electric Company would like to have their truck'space chan�ed to a 35 minute parking sp�ce a1so, �� We disousgs3 this with Co2mnissioner Dreev and he advised us that you are the propea° person to aubm3.t this request to. As this is seriously affect�ng our buainess we requast that gou give it your izrm�ediate attention. Copy to Commisaioner nrew. Yours very truly, GIILF AU`POMOTIVE CO�IPANY Signed: H. PJ. Crippen �� T. A. nicGee MCGEE ELECTR2C CObSPANY July 2'1, 1950 City Goimnisaion o� Clearwater, City Hal7:, Clearwater, Florida Re; Cormnerci�il Net Fishing ::n Clearwatar Harbor Gentlemen: �'ou will recall at ti.za meeting of your Cormnisaion in the early part of Juna: the Federation of C•.;:vic Clubs sought some definite action to prohibit the cormner- cial net fishing in Clearwater Harbor in the hopes o�' preaerving the sport$ fisn- ing. No �ct�on was taken bg tlie Co�nission at that time as there was no defini-�e statute to approve or disapprove for enactment at the ne�t legissature, At this same meeting Ivlr. Lucas, President of the Federation of C3vic Clubs, ss3d that such a statute would be submitted, and aaked the tiv�citar to do so. Accordinglyp enclosed in dublicats is a suggeated draft of auch a statute patterned on that of the City of St. Petersburg, a copy of �rhich, together euith a le�ter from the St. Petersburg City Attorney on the question oi' its constitution- alit�, had been previously for�varded to your Conar►issior�. Mr. I,ucas just left to be gone for several months, and asked me to submit this to you directly as for izim the President of the Federation of Civic Clubs. RWC:gcb b4ayor H. D. Sargeant, CTearivaber, Florida < Dear Mayor: Respectf'ully submitted, Signed: Ra1ph VY, Csrson 0 Aug. 18, 1950, I wrote you three weeks ago re the unsightly condit3on of the lot next to my houseo Still nothing has been done upon my return from Miami. You saw, when you wera here, what siiould be done. This cond9.tion has been brouglit to your attention for the �st 8 0� 10 monthg. W.hat m�st I do to get somq action? I await your reply. Yours very truly Signed: �Varren Denman Such conditions do not exiat in Miami. 'JVho should I take the matter up with, if (over) not you? The lot is a breeding place for mosqultoes and bugs� and a� menaoa to haalth. _�_ C2TY CONfitISSTON IltiEETING AuQu.at 2Z, 1950 .Tuly 2T�, 1950 George McClamm�, Chidf oY' Police� Gardan Avenue, Clear�vater, Fla. Dear Sir: Aa you will aee Prom your traffic acaident records, there have been thres: automobile accidents in the vicinity oP the Sunbura� Apartments in the past week, It happena our insureds were involved in two oP them, I live on Sunbur9t Court and it seems to me that sorne action should be taken irrmiediately to slow down the spasd of cars co�ing around the corner after crnss- in� the bridge,, Since I come out of Sunburst Court onto Forb Aarrison Avanue several times every da�, I can testiPp that it 3s almost as much as your life is worth to pull out there at eny time. First of a11, there are usually cara parked di�ectly acroas fron� tha inter- section, also on the wesi: s3de above and belovr the intersection. Thia narrowa. down the traffic lane beyond al]. reaaon. Ydhile I believe the southbound traffi� comea. the fastest, it does seem to me of late that the northbound tra;£fic has slso picked up considerable apeed. I donTt knovr whether a blinker would help at the turn or nots but I fael something should be done before you have a fa�al accident there. Then too, northbound traffie• coming up Myrtle seldom pay any attention to the "Stop" sign in breaking into the traffic flow. Another point in traf£ic activitias in Clearwater,, �vhich likewise seem� ta me that needs Qttention - sornelzow or oth�r traffic at corners, eT�en where you havc a light, people insist on making a left turn in front oi' through traffic. They do 3t here on our corner at Garden Avenue and Clsvsland Street all the time. Somo educat3.ona]. program should ba instituted in Clearwater to convince peopl8 that such a violation will get �hem in trouble. No place that I have ever been, can you make such a turn without accepting all responsibility in t�ie event of an accident. Hera, no part3aular attention is paid to this point, and I doubt if anybady kn��vs what ths score is. FiBHf xT cc �tayor Sargean� cc Boyd Bennett Yours very truly, Signed; Harold Harpham To The Honorablo Boara of County Cormnissioners., Pinellas County Caurt Hou9e, Cleartivater, Florida. Subject: Fi:;ance Report Gentlemen: 7�20�50 There are submitted herewith tlze following reports for the month of June, 1950: Financial reports covering receipts and disbursements for Cleartivater Vetsrans County Service Office. Report of activiLies of Clearwater and st. Petersburg Vetera.ns� County S'ervice Oi'fices. Trusting you will find these reports in order, Z remain JAP�il c.c. to City of Clearwater c.c. to City oi' Dunedin c.c. to City of Tarpon Sprin�s Yours truly, Signed: J. A. Preedom County Service Offiaer The following 3s a sta�ement covering receipts and disburaements of Clearwater Vetexans� County Service Office for the month of June, 1950: Receipts Disbursernents�. Pinellas County ...................�215s45 J. A. Preedom, Salary,.......w127.00 City of Cleart�zater ................ 50.00 �ecretary, salary............ 100.00 Cityof Diuiedin ................... 9.00 Car operation....a..,........ 25.00 Citg of Tarpon Springs............ 9.00 Tolephone & Ion� distance...e 8.45 Postage & ragistra:tions . .>.. 8.95 Pt�, gtaty. off3ce expense... ----- and incidentsls... 14.05 �To al 283.45� �Total... 283.45 c.c. to Citg of Clearwater c.c. to �� 1P Dunedin c.c. to " ° Tarpon Sprin�� SIGNED: J. A. Pr•3edom County Service Ofi'icer -7- CITY' CONID'ITSSTON 11iEETING Auguat 21� 1950: ORDINANCE N0, 594 Ai�i ORDINANCE PROVIDTNG FOR THE CONSTRUCTIUN�IhiPROVE- �IENT AN� EQUIPLI�NT OF �1 C01111YERCIAL AND YACI3T BASIN PROJECT'; AUTFIORIZING TH� ISSUANCE OF �11.5, 000 COhi-. ]1iERCTAL AA�D YACHT BASIN REVENIIE CERTIFICATES; AND PROVZDIIJG POR THE RIGHTS OF THE HOLD�I�S TIiEREOF. BE IT ORDAINED BY THE CITY C014ID4ISSIOIt OF TIiE CTTY OF CLEARtKATER, FLORID,�: ARTICL� I STATIITORY AUTHORI'FiT, FINDINGS ADiD D�;FINITIONS . l. AUTHORITY OF THIS ORDITtA,NCE. This ordinance 3.s adopted pursuant to tITe provisions of Chaptor 9710, Special Acts of the Legislature of Florida, ].923, and amendments thereof and supplements thereto, be3.ng the Chxrter of the City of C1ear�vater, and other applicable provisions of law. It is hereby found and datermined as follows; (A) That the City of Clearv�ater is novr the owner of land, premises and water rights in said Ci:ty, known as Ia nd Lots 5, 7, 8, 9, 10, 11, 12 and 13 ancl Water I;ot 1 of the City Park Stibdivision, Gleax�water Beach Island, Clea rwater, Florida, &nd that the revenues derived and to be derived from tha fee� rentals or othelr� caar�es for the uss of said land and �vater rights and facilities constructed and to be constructed rherean, as�herein authorized, are not pled�ed or encum.bered in a�ny manner. (B) That the construction, improvoment ar�d equip�ient of a b7unicipal Com- mercial and Yacht Basin_ (herein called ��'Commercial. and Yacht f3asin Facilities° ) as hereinafter descr3bed, are for a proper municipal purpose, and it is imperative in order to preserve the public health and provide rea�reational facilitios for the inhabitants of the City of Cleaxwater that sai onanercial and Yacht Basin Facilities shall be constructed, improved and quipped in accordsnce with the pro- visions of this Ordinanco. pRp �R (C) That the revonues to be derived fron the Project hereinafter described, including the Co�nercial and Yacht Basin Facilitiesy wi11 be sufficient to pag the principal oi and interest on all of the Commercial and Yacht Basin Revenue iertificates issued pursuant to this Ordinance and to make�a.l.l reserve, sinking ilind and other payments provided �or in this Ordinance, and to pay the necessary cost of operating and maintaining said Project. (A) That the principal of and interest on the Cor�nereial and Yacht Basin Revenue Cestificates to be issuecl pursuant to this Ordinance and all o£ the reserve, sinking flznd and other payments provided for in this Ordinance, will be paid solely from the Revenue� derived by the City from the operation of said Pro- ject, and it will never be necessary or authorized to use the ad valorem taxing power or any other funds of said Citg to pay the principal of and interest on said Rovenue Certificates to ba issued pursuant to this Ordinance, or �o maka any of the reserve, sinking fund or other payments provided for in this Ordinance, anel said Revenue Certificates issued purstaant to this Ordinance shall not constitute� & lien upon any �f the properties of said Project or upon any other groperty vrhat- soever of the City. (E) That construction, improvement and equipment of said Commercial and Yaert Basin Facilitiea shall. be undertaken and �ompleted in accoraance with the plans snd specifications proposed by the CityTs Engineer, and '�eretofore fileq, in the office of the City Auditor and Clerk, at an estimated cosb of �1].5,000. Such cost sh�all be deemed to include the cost of the construction, improvement a.ncl equipment of said Corrunercial and Yacht Basin Facilities pursuant to said plans and specifications, including the acquisit�on of az�y l�nds or ir�teres� therein a.nd of any fixtures ar equipment or progertiea deemed necessary or convanient therefor, interest upon the Commercial and Yacht Basi� Revenue Certificates issued pursuant to this Ordinance prior tos and during and for six nionths after tY�� completion and placing in operation of said Corr�nercial and Yacht Basin P'acilities; engineering anct legal expensea; expenses for estimates of costs and of Revenues•; expenses for plans, specifications and surneys and such otYa.er expenses tts may be necessary or incident to the financing authorized by this Ordinance, and the constructian, im- prover:aent and equipping oi such Corrmiercial and Yacht Basin �cilities and the p'�c- ing of same in operation. 2. ORDINANCE TO CONSTIT[TTE CONTRtiGT. In consideration of the aceeptance of the Certificates authorized. to be isaued hereunder by those who shall hold the same from time to time, this ordinance shal7. be deemed to be and sha1T constitute a contract between the City of Clearwater, Florida, and such certi£icateholders, and the coven�nts and agreements lzerain set forth to be perform:ed by said City shall be for the equ�l benefit, protection and security of the legal holder� of any and all of such Certificates and the coupona attached thereto, all of whic�,h sYiaTl be of equa]. rank ar_d vrithout preference, pr3ority or distinetion of any of the Certi£icates or coupona over �any other thereof except as expressl�r provldedi therein and herein. 3. �EFIrtITI0TIS. The following terma shall have the fo7.lowin� mea,i�in�;s. in this Ordinance unleas the text otherwise expressly requirest (a ) ��City�� shall mean t kie City bf Clearwater, Florida. (b) °Act1P shall mean the Charter af the City of Clearwaters constitu�ing �� _�. CTTY COMMISSION MEETING Auguat 2Z, 1950 ardj.nance 594, Cont+d Chap�er 9710, S'pecia�l Acta of the Legislature of Florlda, 1923, and amendment� thereof and auppleme,nta thereto. (c) 1PCertificates°' shall mean the �p115,000 Coimnercial ancl Yacht Basin Revenue Certificates authorized to be iasued pursuant to this Ordinance a nd any additional Certificates hereafter tssued pursuant to subsection 13 (L) hereof in the manner therein provided, and the interest coupons attached to said Certi- ficatea. (d) ��Iolder of Certiiicates�� or ��Certificateholder�', or any eimilar term, ahall mean any pe•rson who shall be the bearer or ownar of any outstanding Certificate or Certificates regiatered to bearer or not registered, or the reg3stered ov�ner oF any outstand:;:ng Cert3ficate or CertiPicates which s2�a11 at the time be regi�tered othex than to bearer, or o£ a�y coupons represex�tin� interest accrued or to accrue on said Certificates, (e) °Cormnercial and Yacht Basin F�cilitieg10 shall mesn the �ea wall, piers, docka and cat �+ralks constructed and to be constructed in the aroa of the 1'roject pursuant to the abovementioned plans and specifications of the City�s Engineer. (f) °Project" sl�all mean the land, premises, water xights and area with3n the City knovm as I�nd Zots 5, 7, 8, 9, �0, 11, 12 �nd 13 and 41Tater Lot lt of the City Park Subdivision, Clearwater Beach Tsland, Clearwater, Florida, and all improvements and facilities now or hereafter locatecl or constructed thereon� in- cluding th.e Coimnercia�. and Yacht Bas�+_n Facilities, i�ogether with all buildings, fixtures, eguipment and all property, real or personal, tan�ible or intangible, now or hereafter ov�ned or used 3n connection with such Project or such Commarcial and Yacht Bas3n F�cilities. (g) ��Revenues�" shall mean all rates, fees, char�es, rontals� or other income received b� the City, or accrued to the Gity, or any board or ageney thereof in control of the mana�ement and operation of the Project, and all parts thereof, from tha operation of said Project, all as calculated in accordance with sound accounting pract3ce. Revenuea s}�all be spaciPically deemed to in- clude, without being limited to, any and all rentals or otYser �yments received bg the City from Iessees,, licensees, or other pereons f'or said Pro�ect, or an? part thereof; provided, however, thr�t there is. hereby expressly excluded f'ram such definition or Revenuea the payment of not exceeding �25,000 or less which it is contemplated the City will receive as a lump aum pavment upon the execution of a lease covaring premises within the F•roject constituting approximately one haTf of Iand Lot 5 thereof and auch sum so received ma9 be used by �he City for any of its corporate purposes. (h) "Operating Fxp�nses�' shall mean the current expenses, p�id or accrued, o.f operation, maintsnance and repair of said Project and shall include,, without lin�iting the generalitf of the foregoing, insurance premiums and ad- �inistrative expen9es of the City properly chargeable to the Project, labor, the cost of materials and supplies used for currb�lt operation, and charges for the aacumulation of appropriate reserves not annually recurrent but v�hich are such s�s ma� reasonabl� be expected to ba incurred in accordance with sound accounting practicee ��Operating Fxpenses" shall not include an� allov�ance for depreciation, renewals or extensions or any charges fr�r the accumulation o£ reserves for �apital replacements, renewals or extensions; provided, hOweve�� that whenever and wherever the City shall Zease or lir,ense any portion of said Froject under terms providing for the payment of net rentals to tize City and whereby the lessee or licensee pays part or all of the costs of operation and maintenanoe, then the part of surh costs of operation and maintenance paid by such lessee or licensees shall not be included under the term �}Operating Expensest� as used in thi� subsection (h). (3) Words importing singular number shall 3.nclude the pluras number in eaclz case and vics versa, and �vord� :Unporting persons shsll include Yirms and corporations. A.RTICLE II AUTIiORIZATIOP�, T.EFiniS, �ECUTION, REGISTRA.TION AATD ISSUE OF CERTIrICATES'. 4. A;UTHt�RIZATIOI� OF CERTIFIGATES. Subject and pixrsuant to the proyision�• of this Ordinance, Certificates of the City of Clearwater to be knorsn as n'Commerciai an� Yacht Basin Revenue CertiPicatesfPcaro hereUy authorized to be issued in the a��gregate priz�c3pal amount of not exceeding Ono Hundred r�ifteen Thousand Dollar� (�115,000). 5. �ESCRIP�ION OF CERTIPICAmES. Tha Certificates sha1T be deted July l� 1950, sha11 be 3n the denomination oz �1,000 ea�h, �11 be numbered from T to 11�, inclusive, shall bear interest at the rate of three and one-quarter per aenttiun (��) per annum payable semi-aMnually on January � and July I of each year, and shall mature serially in numer3cal ordar, lowegt numbers firsL, on Sul;� I �f each year� $�5,000 in each o� the years 195� to 1956, inclusive, and �p10,000 in sach of the years 1957 to 1965, 3nclusive. Tlae Cortif icates maturing in the years 1952: to 1.956, inclusiva, shall not be redeetnable prior to maturity. The Certif3c�tas maturing in the yoars 1957 to 196�, 3nclusiv�, shall bo redeemable pxior to ivaturity, at the optien of the City on July l, T956, or on any �nterest payment date theroafter prior i:o maturity, as a whole or 3n part, in inverse numerical order, a� a redem�tion price of par and accrued. CITY COn'ID"� SSTQN rIEETING Alugust 2TD 1950 Ordinance 594, cont�d 3r�terest to date of redem,ption, plus a prent3um nf three per cent (�N) of the par value thereof �.f redeemed on or before July l, 1;�59; or a prAmium of two per cent (2p) oi' the par value thereof if redeenied thereafter but on or before July ]1, 1961; or a premium of one per cent (la} of the gar vo.lue thereof if radeemed thereafter bui: on or bofore Jtzly l, 1963`, and without premium if redeemed thoro- after; provided tr�at a notice of such in'�ended redemption shall have been puU- lished by the City'at least once at least thix+ty days prior to the date of reclemption in a financial papar published in the City of Nevr 1'ork, New York, anct nrov3ded �urther tl�at if less th�n sll of said Cortificateas aub ject to rar demption are so called for redempi;ion, the notice of redem��ion ahal]: state the indentiiyin� numbers of the Csrtificates� to be redeeined. S'aid Certificatas sha11 be lssued in coupon form, sh�ll '�e payable witlz respect to both principal and interest in la�ful money of the United States o, America, az the principal office of the Chemical Bank & Tri.ist Company, New York Cit�, New York, and sha11 bear 3.nterest from the3r date, payable in accordance with and upon surrender of the appurtanant 3nterest coupons as they severally mature. 6. E�CIITION OF CERTIFICATES AND COUPOiIS. Said Certificatea shall be� executed in the name of the City bp its City Auditor and Clerk e�nd its City Man- a�er, and countersigned by its itiayor-Commissioner �ncl sliall 1�ava impressed there- on the corporate aeal of i;he City. In case any one or more o� the oSficers who shall have signed or sealed an� of the Certif icates sl�all coase to �ie such officea� s�f the City before the Certificates so signed and sealed sY�all have been actually sold and deliverad, such Certif3cates may nevertheTeas be sold and delivered as herein provided and ma�r be issued as if the person v�ho signed or sealed such Certificates had not ceased to hold sucrx off3ce. Ar_y Certificates may be signed axid sealed on 'dehalf of the City by such person as at the actual t�ne of the ex_ecution of such Certificates shall hold the proper o.fi`ice in the City, although at the date of such Certificatas such person may not have helcl such office or may not hava been so authorizedv The Coupons to be attached to the Certificates ahall �ae a�uthenticatedi with the i'ac s•imile signatures of the present or any future City Auditor and Clerk, City Ivianager and hiayor-Commissioner oi` said City and the City may adopt and usa for the purpose the fac s�3.1e signature of any of said persons who shall havP held such offices at any time on or after the date oi' the Certificatea, not- tivithstanding that he may have ceased �0 12o1d such office at the ti.me when said Certificates sha:Ll be a�etual.Ig sold and delivered. 7. NEGOTIABILTTY ANU REG2STRATION. The Certificates� shall be, and have all of the quallties and incidont� of, negotiable instrnu-�ents under the law rnerchant and the Negotiable Ittstruments Iaw of th� Stata of b�loricla, and each successivd holder, in accepting any of sai.d Certificates or the coupons appertaining thereto, sY�als be conclusively deemed to have agreed that such Certificates shall be and have all of the qualities and incidents of regotiable 3nstruments under the lativ merchant and the Tdegotiable Instruments Law oi th� State of N�leridaa and each succesa�ive holder shall f�,irther be conclusively deemed to have agraed that said Certific�tes shall be incontestable in the hands of a bona fide holder for value in the manner provided hereinafter in tne form of said Certif icatea. `she Cestificates may be registered at the option of the holder as• to principal only at the office of the City Auditor and Clerk of the Citg, such registration to be noted on the back of said Certificates� in the space providacTi therefor. After such registratian no transfer oi' the Certificate� sha11 be valid unYess �ade at said office by the registered owner, or by his duly author3zed a�ent or representative and similarly noted on ttie Certificates, bu� the Certi- ficates� na�r be diacharged from registration b3+ being in .like manner transferred to bearer and thereupon tran�ferabilit� by deliver� shall be restored. At the option of the hoZder �the Certificates may thereafter again from time to time be regis- tered or transferred to bearer as before. Such re�istration as to principal' only shall no� affect the negotiability oi the cou,por�s vvhich aha11. continue to pass by delivery. 8. CERiTFICAT�S I�.IUTIT�ITED, DESTROYID, STOI,��? OR LOST. In ca�se any Certi- ficate shall becoma muti�ated or be destroyed, stolen or l.ost, the Ci�y mag 3n its discretion 3saue and deliver a ne�r Cer'tifieate with al1 urnnatured cougons attached of like tenor as the Certii'icato and attach�� coupons, if any, so muti- Iated, destroyed, stolen or 2ost, in exchan�e and substitution for such muti- lated Certificate, upon surrender and cancellation of' 4ach mutilated Certificate and att�ek�.ed coupons, if any, or in lieu oP and substitution for the Cert3ficate and attached coupons, if any, destroyed, stolen or lost, and upon tlie holder furnishin� the City proof of his ovenersnip thereoY and satisfactory indemnity and complyin� vrith such other reasonable regulations and conditions as the City may grescribe and pa9ing such expenses as the Cit� may incur. A�11 Certificates� and e�oupons so surrendered �ha11 be cancelled bq the Cit� Auditor and Clerk and held for the account of the City. I� any such Certificate or coupon shall have matured or be about to mature, inatead of issuing a substituted Gertiiicate or coupon the Cit� rnay pajr the same, upon be�.ng indemnified as• aforesaids and if such Certifica�e or coupon be last, stolen or destroyed, t�ithaut surrender thereo�. Any such duplicate Certifice'tes ard coupons igeued pursuant to this sec- tion shall conatitute nri�inal, additional oontractual obli�ations on the part of the C3ty,, whether or not the lost, stolen or deatroyed Certi£icates or ooupons be at any time found by anyone, and such du�licate Certiiica�es and coupone shall be entitled to equal and proportionate benefits and rigY�.ts �s to lien and, eource and sacurity Por payment from the Revenues oi' the Project v�ith al1 other Certiiicates and coupons issued hereunder 9. FOR1rt OF CERTIFICAT�S APtD COUPONS. The tex� nf the Cert3i'icat�s, coupons and provisiona for regiatra;tion shall be of substantially the Pollowin� tanor,. with such omisaions, 3nsertions and variations as r�ay be nacessary and c�esirable and �� / _ �Q _ CZTY COh'�7IS3ION MEETING August 21, 1950 Ordinance 594, Cont�e[ authorized or perniitted b�y thi� Ordinance, or �ny aubaequant ordinance �r reso- lution adoptecl prior to the isauance thsreofc No. UNITID STATES OF Al4iERICA STATE OF FLORIDA CTTY OF CLEARWAT.ER COMR'IERCIAL AIVD YACHT BASIN REVEI�IUE CERTIFICATE �r„000. KNO�'V �SLL :QEN BTI TFIESE PRESEPITS �hat the City of Clearvra'�ers ir� Pinellas. Countq, Fl�rida, for value receivAd, hereby promisAs to pay to the bearer, or iP this C�r�ificate be registered, to the re�lstered holder aa herein provided, on the first day of July, T9 , Prom the revenues and special funds hereinafte� men- tioned, the principal sum of O.IE THOUSAND DOI�,ARS' (�1,OQ0) with interest thereol� at the rate of three and one-quartar per cent�am (3�) per annum, payable semi-annually on the let dap oP Janu�ry and the �.st day oP July of each year upon tha preaentation and surren�ler oi` the annexed coupons as thay aevarally fall due. Both principal of and interest on tb.is �ertificate are pay- able in lawi�.il money of the United! Statea of America at the principal office of the Chemical Bank & Trust Campany, in the Cit� of ldevr York, State of New York. This Gertificate is one oP an authorized issue of Certificates in the aggregate principal amount o£ �115,000 oF like date, tenor and effect, except as to number and date of maturity, issued to finance the cost of the conatru.�tion, improvement and equipment of coimnercial and yacht basin facilitiea in the Citp of Clearwater, under the authority of and in full �ampliance with the Constitution and S�atutea of 'the S'tate of Flor3da, the Cy�rtex of the City of Clearwater, being Chapter 9710, Special Af:ts of the Leg:Lslature of Floride for the qear T92:3: as amended and supplemented, and other applicable statutes, and an Ordinance duly adopted by the City Coimnission of said Cit� on tlugust, 1950, an d is eubject to al]. the terms and conditions of said Ordinance. �� This Certi�icate and the coupons apperta3n3ng hereto are payable solely from and secured by a lien upon and pledge of the net revenues derived from the oper- aticn of the Project described in the Ordinance authorizing this issue of Certi- ficates in the manner provided in said Ordinance and does nnt constitute an in- debtedness of the City of Clesrwater �vithin the meaning of any constitutional, ata�utory or charter provis3ons or limitation, and it is expressly agreeci by the holders of th�s Certificate and the coupons �ppertaining hereto that such holders shall never have the ri.ght to requ3re or compel tha exarcise oi the ad valorem tax- ing povaer uf said City, or tha ta�tion of real estate in said City, for the pay- meni; o£ the principal of and interest on this Certificats or the making oi' any s3nking flznd, reserva or other payments provided for in the Ordinance authorizing this 3asue o� Certificates. It ia fia.rther agreed between the Citq of Cleas�ater and the holder of thie Cer�ificate that thia Certiiicate and the obligation evidenced thereby sl� 11 not constitute a lien upon the aforesaid Eraject, or any part thereof,, or on an3€ other property of or in the Citg of �learwater, but shall constitute a lien only on the net revenues derived fron the opc�ration oP said Project in the manner pro= vided in said Ordinsnce. The City in s�id Ordinance has covanarited and agreed �vith the holder� o= ths: Certificstes of this 3ssue to fix and establiah a.nd maintain such rates and collec� such fses�, rentaZs or other charges for said Project and each snd evary p�rt tliera- of and to revise the same from t3.me to time �wY�enever necessary (subject to the provisions of any contra�ets with lesse�s or liceneees of such Project, or any par�, thereof,) as wi1.l always provide revenues suffic3ent to pay, and out of said reve- nues shall pay, as the same shall become due, the principal of and interest on the Certificates of this issue, in add3tion to paying, as the same shall oecome due, the necessary expenses of operating and maintaining said Project, all re- aerve or sinking funds, or other paymenta• provided for in said Ordinance, and al1 other obligations payable out of the revenues oi sa3d Projeat and that such retes, fees, rentals or other charges shall not be reduced so as to be insufficient to provide s�evenues for such purposes, and said C3ty has entered into certain fur- ther coven�znts wi'th the holders of the Certificatea of this issue for tha terms of which refesence is made to sa id Ordinance. The Certificates maturing in the years 1952 to I956, inclusive, a.ra not re- deemable prior to maturity. The Certificates maturing in the years 1957 to ].965, inclusive, are redeemable prior to maturity: at the option of the City on J�alq l,. 2956, or on any interest payment da�e thereafter prior to maturity, as a whose or in paxt, in inverse numerical order, at a redemption price of par and accrued interest to date of redempti:on, plus a premium of three per cent (3�) of the par value thereof if redeemed on or before July l, 1959; or a premium of �wo per cent (2°0) of the par vslue thereof if redeemed thereafter but on or before July I, 196I,; or a premium of one per cent (1�) of the par value thereof if redeemed theroafter but on or before July 1, 1963; and without premium if redeemed there- after; nrovided that a notice of such redemption shall have been published at least once at laast thirty days prior to tho date of rodemption 3n a%'inanciaT paper published 3n New Xork City, New York. It is hereby certified and recited that all aets, cond3tions and things re- quired to exist, to happen and to be periormed precedent to and in the issuance of this Certificate, exist, have happened and have been performed in regular and due iorm and time as require� bg the statutessand Constitution of the State of Florida appl:tcable thereto, and thmt tlie issuance of this Certi:ficate, and of the issue of Certi�icates oi which this Certificate ia one, does not violate an� constitutional, statutory or charter ]�imitation. � _ /� - CITY COA'Il�t25aI0N IYIEF'.�'ING Aug�st 21, 1950 Ordinance 5J4, Cont�d. Thi� Certifia�.te, and the coupons appertaining thereto, 3s, and has al1 the quaiities and incidents of, a ne�;otiable ins�rument uz�der the law merahant and the Ncgotiable Instruments Iarv of the State of Flar3da, and the orig�.na]1, holder and each succesaive holder of this• Certi�iQata, or of the COtipOilS appertaining thereto, slzall be cox�clusivaly deemed by his acceptance thereof to have agreed that th3s Certificate and the counons apportaining thareto shall be and have all the quelities and inaidents of negotiabla 3nstruments under the lew mercY�ant and tkze Nogotiable Instruments Iaw of the �tate of Florida. Ths origir.al holder and each successive holder af this Certificate, and of the coupons apperta3.nil�g here- to, shall be conclus3.vely deemed to have agread and consented to the follow3.ng terms and conditions.s (a) Title to this Certificate, unles� regiatered as lzere3n prov3dedr ancl t� the annexed interest coupons, may be transforred by delxvdr� in the x,iannor providad for ne�otiable 3nstrunerlts �y�ble to bearer in the la�rr merchant and the I�Tagotiable Instrumen,ts I.�v� of the State of Florida. �b) A`nf person 3n possession of this Certificate, unless re�ietared a s herein provided, ar of the interest coupons herdunto a�pgertaining, re�ardless� of i;he manner in which he�shall have �equirod poasession, is hereby authorized to represent himself as the absc�lute or�ner hereof, and is hereby gs�nted power to transfer abso�ute title hereto by delivery hereof to a bona fide purchaser, that is, to any one who shall purchase the same for value (prasent or antecedent) with- out notice of prior defenses or equit3es or claims of ovmership enforceable against his transferror;. every priar talter or owner of this Certificato, unles� registered as here3n provided, and of the anneaed interest couponst waives a,nd renounces aIl of his equita.es ancl ri�hts herein in favor of every such bona fide purchase,: and every such bona fide purchaser shall acqu3re absolute title hereto and to all rights repre�ented 3�erebyr and (c) The Cit� of Clearwater may treat the bearar of this Certificate, un- less� registered as herein providec�a or of the interest aoupons hereunto appe�- taining, as tha absolute avrner her�of for all purposes without boing affected by any notice to the contrarg. This Certificate may be re�istered as to principal only in accordance witn the provisions endorsed hereon. IN V`JITIJESS WHEREOF said Ci�ty of Clear��ater, Flor3da, has i�s�.?ed this� Certi- ficate and has'caused the same to be signecl by its City Auditor and Clerk and its City �ianager, conntersigned by its b2ayor-Gommissioner and its corporate ser�71 to be a£i`ixed hereto and has caused the interest coupons hereto attached •to be executed �vith the .fac simile signatures of all of said officers, a].1� as of the; first day of Jul-y= 1950. iSEA.L) (FORriI OF COIIPON) No. CITY OF CLEF,RtiNATER, FLORIVA BY City Auditor and lerk B'Y Cit� Ivianager Countersigned: Mayor-�Commissioner � On the day of ,19 ,(unless tho Certificate to w}�ich tr,.is coupon is attached sha11 have been duly called £or r6demption and �rovi9ion zCr tre payment of the redemption price duly made) tha City of Clearrvater, F].orida, will pay to the bearer at the principaZ oPfice of the Chem3.cal Bmnl� & Trust Campany, in the City of Idew Yorl�, State of Nevr York9 from the revenuas and spacial funds descxibed in the Certificate to which this coupon ia attached, the surm oi" S3xteen and 25j�00 Dollars (�p16.25�, in lawfi.il inoney oP the United Sta�tes of America upon presentation �nd surrender of this coupon, being �ix months intarest then dua on its Co�mitiercial and Yaelit Basin Revenue C$rtificate, dated July ]:, 1950, I�o. CI'I^i' OF CT�EARI"fATER, �'LORIDA BY City Auditor and C].erl� SY Ci�y --'��'-' Couniersignede Mayor-Carrnnissinner _ �� • CTi�Y COi+IMTSSION 1�tEETIIdG Augu.at 21, 1950� � OZ'd3114riCe 594� COI71�td (FORIvI OF VAI;IDATION CERTTFICAT�) VaTida�ted and confirmed by decree of the Gireuit Court of the Si�th Judicial Circui� of Florida, in and for Pinellas County, rendered on the day oi' , 7:950. Clerk oP the Cireuit Court of Pinellsa Count�, F�orida� (PROVISION FOR REGISTRATIOIZ) This Certificate may be registered as to principal only in the n�me of �he holder on the books to be kept by the Cit3� Auditor and Clerk as Regiatrar, or suoh other Registrax as ma,q hereafter be cluly appo3nted, such registr�t,ion be3ng noted hereon by such Registrar in the registration blank below, a�ter which no transfer sha11 be valid unless �.nade on said books by the.registared holder or attornep duly authorized and simil'arly noted in the regiatration blan� belov�, but it may be discharged from re�iatration by bein.� transferred to bearer, aftar which it si� 11 be t'ransferable bg delivery, but it may be again registered a� before. The registration of this Certificate as to principal ahall not restrain the negotiability of the coupona b9 delivery meroly. I3ATE OF REGISTRATION IN WHOSE NA&IE REGISTERED ARTICLE III COVENANTS, REVEPNES AIdD APFLICl�TION THEREOF. SIGPIATL'RE 0F REGISTRAR 10. CERTIFICATES NQT TQ i3E INDEBTIDNESS OF THE CITY. Neither the Certi- ficates nor coupons shall be or constitute an indebtedness of the City, but shall' 'be payable solelg from the Revenues of the Projact, and other apecial f'�znds, as herein providedo No holder or holders cf any Certificates issued hereunder, o� of any coupon appertaining thereto, shall ever have the right to compel the exerc3se of the ad valorem taxing power of the City, or taxation in any iorm of any real property therein, to pa� said Cert3�'icates or tha interest thereon, or to "be entitled to payraent of such principal and interest from any other functs of the City except the net Revenues of said Projsct, as provided herein. 11. C�tiRTIFICATES SEC7HED BY PI,EDGE OF R�VENUES AND SPECI.AL FI7IdDS. The pay- ment of t?�,� debt service of all of thc Certificates iseued hereunder shall be secured f.�rthwith equal�y and ratably by a lien nn bha net Revenues derived Yrom said Pro�ect. The net Revenue� derived from said Project in an amount sufficient to pay �tha principal of an@ interest on the Certificates herein authorized, and to make the pa�msnts tnto the reserve and sinking flznds and all other payment� provided for in t�ia Oi� inance, are hareby irrevoeably pledged to the payrrient of the principal of and interest on the Certif3c�te� horein authorized as the same become due. , 12. APPLICATION OF CERTIFICATE PROCEEDS. Al1 moneys received from the sal& of sny or all of the '�p`115,000 Certificates; or.iginally &uthorized and issued pursuant to this Ordinance shall be deposited b� the City 2n a special account, and shall only be used for, an� appl3ed b�* the Citp solaly to, the payment of the cost of the constrizction and equipment of said �ommercisl and Yacht Bas3.n Faci11.- itie� and other purposes provided in this Ordinance, and for no other purpose whatsoever, If for any reason any portion of such proceeds of sale of the Certi- ficatos are not necessary for, or ars not to be applied to, �he aforesaid pur- pose�, then such unapplied proceeds sha17. be depositecl by the Cit�y in tho Rsserve Aacount in the S3nking Fund to be establislzed pursuant to subsection D of Section 13 of thi� Ordinance and shall be used for the purposas of this Ordinance pro- viding for monegs in said Reserve Accounto All such proceeds shalll be aud con- stitute a trust fund for such purpases and there i5 herbby ereated a lien u�on such money, until so applied, in favor of the holders of the Certif3cata�. Nioneyss depositecl in the speoial account pursuant to this Section 12:may, pending their use in the manner in 'chis Ordinance providod, be temporariily invested in direct obl,igations of the United States of America maturing not later ichan eix (6) months from �he date of purchase or must otherzvise ba ms3ntained in cash. 13. COVENANTS OF TH� CITY. So long as any of the Certifica�e� shall be out- standin� and unpaid, or until there shall have been set apar� in the Sinking Fund horein establi3hed a suzn sufficient to paya wlien due, ihe entire principal of the Cer�3.ficates remaining unpaid, togethor with intereat accrued and to accrue thereon, the City covenanta with the holders of any and all of the Certificates isaued pursuant to �his Ordinance as follows; A;. i�AT.ES: That the city will fix, establish and maintain such rates and �� /�- C1'1'Y QOItIA4ISSTON 25EF7,'ING August 21, 1950 a. az+dinance 594, aont�d: aollect such fees, rentsls or other chrxrges for the serv3,ces,and facilities of R----'�^'�"� said Project (subject to the terms of any valid leases or iicenses then in force), i-f and revise same from time to time whenaver necessary, as will al�vays provida � i Rsvanues aufficient to pag, in the manner specified in Soation I3 of thia Or- � dinance, �nd out of said Revenues shall pay, as tho same shall become due� the '--- �"�" principal of and interest on the Certi�icates, ln addition to pay3ng, as the same shall become due, the necessary expenses oi operatin� and maintainin� such Project, all reserve or siniting funds or other paymer,ts provided for in tkii� Ordinance, and all other obl3gations or indebtedriess payable out of the Ravenues> of such Project, and tl� t such rates, feea:, rentals and other charges� shall not be reduced so as to be insufficient •�o provide Revenuas for such purposes. B. REVENUE FUND, Ttv.�t the e�tire gross; Revenues deri:ved from the opora- tion of said Project shall be deposited in a special fund in a bank or trust oompan� which 3s a member of the Federa;l Res6rve System, Svhiah fund is hereby designated as the "Conmiercia� and Yacht Ba�in Revenue l�znd�" (herein called �t'Revenue Fund��. Said Ravenue Fund shall const3tute a trust i`�znd for the pur- poses provided in this Ordinance and shall be kept separate and distinct friom all other funds of the City and used only for the purposes and in the manner pro� vided in subsection D of �his S'ection �3. C. OPERATION AND n.AINTENANCE. That it will maintain in goad conditioh saic� Project and will operate the same either directly or through Iessees or licensees in an ei'ficient and economical manner, making such expenditure for equipment and for renewal, repair and replacements as ma5 be necess�ry for the economical operation and maintenance there.of from the Recenue �ndo D. DISPOSITI�PI OF REVENUES. That all Ravenues at ang tima remaining on deposit in the Revenue F�znd shal� be d3sposed of in the following �anner and order of prioxity: (1) Revenues s2�a11 first ba used for the pa�ment of all cu.rrent Operating Fxpenses of the Project as herein defined, to the axtent that the same are not paid by- lessees or licensees. (2) Thereafter from the moneys remaining in the Revenue FSznd, the Cit� shall not later �han the first day of June and the first day of December in each 9ear apportion and set a part out of the said Revenue Fund and deposi� in a fund to be knovm as the °Commercial and Yacht Basin Revenue Certifica:te Sinkiizg Fund° (herein called t°Sinking Fund�'), which is hereby created and established such sums as will be aufficient to pay ono hal£ of all the principal and interest on the Certificates issued hereunder which ehall �ature and become du� within such fiscal year. The Cit� shall also from the Revenue F'urd deposit in a Reserve Account in said Sinking F�uid: on tho first day of June and the first day of veca�ber of each year an amount equal to t6venty-f-?ve per cent (25�;) of all ariounts= required to bo paid for maturing principal and ipterest into said S3nking Nund, as provided in the above paragraph, on said dates; provided, however, that no fllrther pay- ments shall be required to be made 3nto said Reserve Account when there sha.l;l have bsen deposited therein, and as long as there shall roznain therein, an amount equal to the maximum aggregate amount of ths principal of and interest on tize CertiTicates r�hich mature in any one succeeding calendar yea.r. NIoneys 3n the Reserve Account shall be us�d only for the purpose of the pay- ment of maturing principal of or interest c�n the Certif3.cates when the other moneys in the Sinking F`u.nd are insufficient therefor, and for no other purpose. In the event any withdrawals are made from said Reserve Account, such with- dra�vals shall be restored to said Reserve Account �rom the first available Revenues vrhich are avail�ble aiter all pa�ments have been made for maturing prin- cipal oP and interest on the Certizic�tes. The City shall not be requirecl to make any f`urther payments into said 5inking Fund or into the Reserve Accoiuit in sa3d Sinking Fund when the aggregate amount of �unds in both said Sinking Fund and said Reserve t�ccount are a�t ]:east equal to the aggregate principal amount of Certii'ica�tes isaued pursuant to this Ardinance then outatanding, plus the amount of interest then due or thereafter to become due on said Certificates then outstand3n�e (�) Thereafter from the moneys remaining in the Revenue Fund, tha City shall establish and set up a Renewal and Replacement Fund and shsll pay annually into said fund £rom th� Revenue Fund on the first day of June of each year an amount equaZ to three per centinn (3f') of, the Revenues! actually receivea and col- lected from the operation of the Pro3eet during the preceding tv�elve (12) month periodo The moneys in such Renewal and Replacement Fund sY�.all be used only for the purpose of pa�in� the cost of extensions, 3mprovements or addition� to, or the replacement af capital asset� of, sa3d Project, or any part thereof. (4) If on anq semi--annual payment date, the Revenues, together with othe�r svailable funds, are insu�ficient to place °ahe requ3red a�mount in any of the i`unds as hereinbe�ore provided, the deficieneq sY,all be made up in the subsequent pay:- ments in addition to the payments which would othervl3so be required to be rr�da into the Funds or the subsequent pa�ment dates. (5) fihereafter, the balance of a�9 Revanues remaining after a�.l other re- quired payments into the funds provided above have been made, rnay be usr�d by the City 3n any manner required or permitted by law. ;�� : r -/�- CITY COMD4ISSION RIEETIIJG Augtzst 21, 1950 Ordinanca 594, C,ont�d. (6) The Revonue F'und, �,3nking Fund and Heserve Account tharsin, and the Renewal and Replacem�nt Fund, and all other spocisl Pundeset up v�nd created by this Ord3nance shall constitute trust funcl�.for the purpcae provided herein for suah funds, and �}�all be depoaited and maintained in a nationa:� bank or truat company in ths Ciby of Clearwater, F�.orida. All of such funds shall be con- tinuoualy secured in the same manner as 5tate and munici�,al d6posita oP fund� are required to be secured la� the laws of the State of Florids; provided,, hovr- ever, that the obligations securing such funds shall be at a11 t�ea at least equal in markQt value to the amount o.£ �noney in said i'unds. The moneys in the Reserve Account in the Sinking F1znd and in the Renewal and Replacement �'und may be invested by the City in diroct obligations of the United States of Americm ori must otherwiso be maintained in cashe E. SAL� OP YROJECT. 'Fhat said Project, or any part thereof, may be s�old,, mortgaged or otherwise disposeci� of only if the net procead� to be realized sh�ll be sufficient full.y to retire ail of th.e Certificates issued pursuant to thi� Ordinance and all interest thereon t� their reapective dates oP maturity or earlier redemption data. The proceeds from auch sale, mortgage, or other dis- position of said Project shall iramediatelg be depasited in �he Sinking Fund and &hall be used only f or the purpose of paying the principQl o£ and interest on tha Certificates �?ssued purauant to this Ordinance as the same sha11 become due, or the redemption of callable Certificates at a price not greater than the re- demption price thereof. After all oi such principal and interest shall have been duly paid and retired any ba7.ance xemaining in said fiznd ahall be ramitted to the City. The le�sing or licensing of said Project, or �f parts thereof, shall not be deemed ta be a sale or disposition of such Ps�oject as long as the City re- ceives rea3onable and �air rentals or income under such leases�and licenses and the same are payable into the Hevenue k'und. F. ISSUANGE OF OTHLR OBLIGATIONS PAYABLE OUT Qb' REVEP�UES, That ths Ci�y will not issus any other obligations, except upon the condj.tions and in the manner provided here3n, �ayable from the Revenues darived irom the operation oi' said Project, nor voluntarily create or cause to be created any debt, liens pled�e, aesignment, encumbrance or any otY+er charge, havin� prioritg to or being on a parity wibh the Tien �f the Gertificates isaued pursuant to this Ordinance and th� interost thereon, upon any of the Revenues of said Project pledgad as securitg therefor in this Ordinance. Any other obligationa issued by the City in addition to the Certificates authorized by this Ordinanee shaTl �ontain an e�press� state- ment that such obligations are junior and subordinate in all respects to the Certi- ficates issued pursuant to this OrdinAnce as to lien and source and securitg Por payment from the Revenues of said Project. G. INSIIRANCE. That the Citp will carrv, or cause to be aarried £or it� benef3t, such insurance, and in such amounts, as is ordinarily carried by pri- vate corporations owning and operating similar improvements and facilities in the area with reputable insurance carriers a gainst loss or damage to the Project, and said property losa or damage insurance shall at all times be in an amount or amounts equal to the fair appraisal value of the buildings, properties, fa.cil- it3es, improvaments, f�a.rniture, fixture9 and equipment of said Projset. I� time of war, the City shall also carry in said amount such 3nsurance as may� be avail- able agsinst loss or damage by the risks and hazard� of v�are H. BOOKS, RECQRDS AND INSPECTION. That the City will keop books and records of said Project whiell sha11 ba separate and apart from all other bookss recor�s and accounta of the City, in wh3ch complete and correct entries shall be made 3n accordance vrith standard princ3ples of accounting of all transactions relating to said Prqject, and any hol3sr of a Cert3ficate or Cert3ficates igsued purs.uant t� this Ord3.nance sL�a11 have the right at all reasonable times to inspect said Project and all parts thereof, and all records, accounts and data of the City re- lating thereto. The Ci�y shall, at tlie end of each fiscal year, cause the books, records and accounts of said Project to be properly audited by an independent certified public accountant of recognized standing and sha11, upon request, make available within 90 days after the end of each such vear, the report of said auditor at all reason- able times to any holder or holders of Certificates issued parsuant to t'iis -0rdinance. Promptly after the receipt of sueh audit report a copg thereof shall be mailed by the City to any Cer�ificateholder who shall have filed his address with tho City and requested in writing that �opies oz such reporta be furnighe�l himo I. CONSTRUCTION AND MAINTENANCE OF COMI�4ERCIAL AND YACHT BASIIv' F'ACILITIES'. That �he Ctty will complete the consiruction, improvement and equipment of �om- mercial and Yacht Basin Facilities providad for in this Ordinance with all prac- ticable diapa.tch, and will maintain said Project in �ood condition and continuous�ly opexate the same 3n an efficient manner and at a reasonsble cost. J. S7%�RVICF.S' REiVDERED T0 THE CITY. That tlie City will not render or cause to be rendered any free services or facil3ties o£ any nature t�y said Pr•oject, nor allow any use or occupation thereof erithout reasonable char�e therefore, nor wfZl any preferential rates be eatablished for users of the 9ame class; and in the event the C3ty, or any departmerit, agenc�, instrumentality, offiaer or employee thereof, shal.l svail itself o� themselves of and use such Projec�, or r�ny part thereoi', or occupy aaid Projsct, ar any part thereof, the sar�e ratea, rentals, fees or char�ss applicable to other parties using like facilities.under similar cir- cum�tances shall be charged the City and any such department, �gency, instru- mentality, officer or employee and all such rates, rentals, feas or charges shall be reasonable. The City shal�. rsquire an� leasea or licensee to observe and enforca �. � J�^� cz� cor�zsszorr n1E�rzrrc• August 21, 195� Ordinanco 594, Cont�d. tha pr�visions of this subsection J. Sizch clzarges, sh0.11 be pa3.d as they accrue, and the City shall trensfer from ita �en�r�l flznds sufficient sums to pay such charges. The income so rec9ived shall be de�med to be Revenuas� derived frorri the operatian of the Project, and shall be deposited and accountod for in the ssme manner as other 8evenuas dorived fram the operation of the Froject. I{. OPERATING BIIllGET. Tha'c the C3,ty shall annual7.y, at the eamo time and in the same manner that it prepares its annual munici��. hudget, prepard and adoot t�y resolution of its governing body a detailed budget of the estimated ex- penrlitures far operation and maintenance of the Pro�ect during such succeed.ing fiscal year. IJo expenditures for the operat3on and maintenance of such Project shall be r�ade in any fi�cal year in excess of the armounts provided thorefor in such budget without a written finding and recommendat3.on by the �eneraZ mant�g�r oi such Project or other duly authori_zed afficer in char�e thereof, which find- ing and recorrunenda�ion sha11 state in datail the purpose o£ and nacessity fozx such increa�ed expenditure for the operation and maintenance of such Projeat, and no 3uch increased expenditures shall bA made un�til the goverzing body of said City shall have approved such finding and recommendation by a resolution duly adopted. No increasod e�cpenditures in axcess of ten per centum o�' the amounts provided for in such budget shall be made without the further certificate of an independont recognitied consulting engineer thAt such increased expenditur�s are necessary for the conti.^,�xed oparation and main�enance of s�id Pro ject, The City shall mail copies of sueh annual budget and all resoluticns authorizing increased expenditures for operation and maintenanca to any holder or holders of Cer�i- ficates who shall fila his address.with the City and requost in writing that copies of all such budgets ancl: resolutions be furnished hi.m or them, and shall make available such budgets an� all resolutions authorizin� increased er.pendi- tures for operatian and mai�tenance of such Pro3ect at all r�asonable times to a�ny holder or holdors of Certificates isaued pursuant to thie �rdinance, or any- one act3ng f'or and in behalf of such Corti�'icatanolder or C9rtificator.olders. L� ISSTTANCE OF ADDITIONAL OBLIGATlONS. That no additional. obli�ations, as in this subsectioii defined, paya�ale pari-passt;, out of the I2evenue Fund shall be created or issued after the issuance of any Csrtific�tes purguFint to thi� 4�r� dinance,, except u.:ider tne c.onditions and in the manzier her�3n �rov2ded. No such additional pari pasau obligations shall be issue� or created unles� the t8net earnings�° cf stzch Pro ject during t�.e preceding twelve cansecutive montl�.� shall equal at least one &nd r�ne-half times the hi�hes� a:��re�ate principa.l arld intarest requirements for a,ny succ�eding tv`elve consecutive month per3.od on a�sl Certificates! theretofore issuecl and still outstanding under this� Ordinance and on a11 such �dditional obligations to be iss�ued, and unless the pz:oceedsj derivad�. �'rom the sale of such additional obligations shall'be used soZely for the pur- pose of makin� repairs,, �nprovements9 additions o� extensions to the Projeet. 16Net earnings�� as used in this subsection L are hereby def3ned as Revenuss les� Operating Expenses. The term �add3tiona]. � ri passu obligations" as used 3n tY�,.is subsaction L shall be deemed to mean �dditional oblig�tions evideneed by Certificates iss,zed under the provisions and v�ithin the limita�tions of this 0.rdinance pa�aUle from the Revenue Ftiznd pari passu with Certificates ori�inally authorized and issued pursuarit to this �rdinence. Such Certif icates shall be daemod to have been issued pursuant to this Ordinance the sattie as the Certif icates orip;inally authorized and issued pursuant to this Ordinan.e6, and all of the covenants a�ncl other provislons r,f this Ordinance (except as to details of such Certifica�es evidencing such additional obligations inconsistent therewith), shall be for the equal benFsfit, protection and security of the holders of any Gertifieateg originally authorized and isaued pursuant to this� Ordinance and tYze holder� of any Certificates evidencing additional pari passu obligations subsequently created wi�thin the limitations of and in compliance w3th this subsection Lo All oi such Ce,rLificate�, regardTess of the time or timea of their issuances sha11 rank aqually vrith reapect to their lien on the Revenuea snd their sourcessand aecurity £or pagment from said Revenues w�thout preference of any Certi.ficater or coupon, over any othere The term �Rad�itional pari passu obligations�" a� used in Lr,:is suY�section I, shall not be deemed tu include bonds, notes� csrtificates or other obligations� subsequently issued, the lien of vvhich on the Revenues of such Project is sub- ject to the prior and �uperior lien on such Revenues of Cexti:ficates issueci3 pur- suant to this Ordinance, and the City shall not issue any obligations whatsoever payable Prom the Revemaee of said Project which rank equally as to lien and source and security for payment �rom such Revenues�viith Certificate� issued pur- suant to this Ordinance except in the manner and under tha conditions pravided in this subsection L� No additional obli�ationa, as in this subsection defined, shall be created at any time, however, unless all of the payments into the respective funds praT vided for in this Orclinance nn Certif�cates then outstanding, and a11 other re- serve or sin�ing funds, or o�her payments provided fo.r in this Ordinanca sha11 have been made in fizll, and the C3_ty shall have flzllg complied with all the cove- naz�ts, agreements and termg of this Ordinance. M� R�iEt�IE5. Any holder of Qertificates or of any coupons pertainin(� thero- to, iasued under the provisiona of this Ordinance, ar any Truatee act3n� for such Certificateholders in the manner hereinafter providedD ma�, e9.i;her at law or in equity, by suit, ��tion, mandamus or other proceedirg in any court of compaten� jurisdietion, protect ar;d enforce any and al]i rights un�er the ].a�v� of' the State of Florida, or granted and containecl in this Ordinance, and ma� enf'orce and c�pel the performance of all dui`ies required by thi� Ordinance on by any appl3cable sta�tutes to be performed by the City or by any ofPicer thereoi, 3nclu�lin6 the fix- ing, charging and collectiri� of rates, rexitals, fees, and charges for said Projeat. subjec� to the provis3ons of any valid leases or licensos of saicl Projacts or any part thereof. {� �� -�� _ CITY CObIMISaTOPT MEETING Augu.st 21, 1950 Ordinance 594, Qont�d. In the event that dePault shal.l. be made in the payment oP �he intereat on or the pr3naipal of any o� the Certifica�es issued pura7za�t to this Ordinance aa the same shall become due, or in the making oF thg payments into any reagrve or siniting flznd or any other pa,ymenta required to be made by thia Ordinance, o� in the evant that the City o.r any of�icer, agent or employee thereof shalT Pail or rei`use to comply vri�h the prov3si�ns of this Ordinance, or shall defauit in any oovenant made herein, and in the further event tha+ sny such dei��,lt shall continue for a pori�d of thirty (30) daysy ariq holder ai such Certificates, or any Truatee appoint�3d ta represen� Certificateholders ae hereinafter provider�, shall be entitled as of right to the appointment of a receiver of auch Project in an appropriatA judicial proceedin� in a court of competent jurisdiction, whether or not such holder or Tru.stee is also geeking or shal� have sought to enforce any other right or exercise any other remedy in connection with Certi- ficates i�sued pursuant to th3s Ordinance. The receiver s� appointed ahall forthwith, directl� or by his agents and a+,torneyes enter into and upon and take possession oP suoh Project and each and evesg part thereof, subject, hovrever, to the right� of anv lesseas or licensees, and in the name of the City ahal�. exere3se all the right� and powers of tY!e City wi�h reapect to such Projact as tlie City iLse3.f might do. Such receiver sha1T collect and recaive all Revenues, maintain and operate such Project in the manner provided in this Ordinance, and comply under the jurisdiction of the court sppcinting such receivers �3th a11 of the provisions of this Ordinance. V'thanever all that is due upon Certif3cates issued pursuant to thia Or- dinance, an� interest thereon, and under any covenants of this Qrdinanca fo� reserve, s3.nking or other f`unds, and upon sny other obligations and interest thereon, havin� a chargo, lien or encumbrance upon the Revenues o£ said Prflject shall ha ve been paid and made good, and all defaults under the provisions of this Ordinance shall have been �ured and made good, posssssion of such Frojeet .hall be surrendered to the City upon the en�ry of an order of the court to th;�t effect. Upon any subsequent default, any holder oi Certificates issuec� pur- suant to this 0sdinance or any Trustee appointed for Certificateholders as here- inafter prov3ded, shall have the sarne right to secure the rizrther appointment of a receiver upon an� such subseauent default. Su�h receiver shall in tla.e perforxnance of the powers hereinabove conferred upon him be under the direction and suparvision of the court making such appoint- ment, shall at al1 times he subject to the orders and decreeg of such court a,nd may ba removed thereby and a successor receiver appointed in the discretion o� such court< Nothing herein contair_ed shall lirr�it or restrict the jurisdiction of such court to enter such other and f�i.rther orders and decrees: as such court m�y deem nocessary or a ppropriate for the exercise by the receiver of any i�nction specifically set forth herein. Any receiver appointed as pr�v3ded herain shall hold and operate such Project in tha name of the City and for the joint protection �nd benefit of the City and holders of Certificates issued pu.rauant to this Ordinance. SucYx receiver sht�7.1 Y�ave no powar to sell, ass;gn, r,�or�gage or oth.er�vi�a dispose of any assets of any kind or character belonging or pertaining to such Project but the authority of such receiver shall be limited to the possession, operation and maintenance of such Project, subject to the rights of any lessees: or Iicensees, for the sole pur- pose of the protectian of both the City and Certificatehold�rs, and the curing and inaking good o� any default under the provisions of this Ordinance, and the title to and ownership of sueh Project shall remain in the City, and no court sha11. have any jurisdiction to enter any order or ciecree permitting or requiring such. receiver to se11, mort�age or atherwise dispose of any part of such Projec�o The holder or holders of Certificates in an aggregate princiFal amount o� not less �han twenty-five per centum of Certificates issued under this Ordinarce then outstanding may by a duly executed oertificate in writing s.ppoint a tx�ustee for holders of Certificates issued pursuant to this Ordinancc� with authority to re- present sucYi Certificateholders in any �egal procaeding for the enforcement and protection of the rights of such Certificateholders. Such certif3cate shall be executed by such Certif icateholders or their dulg authorized attas�neys or re- presen•tativ�es and shall be filed in the of2ice of the City Auditor ar.d Clerk. N. ENFORCEh2ENT OF COLLECTIONS. That the City wi11 diligently enforce and col].ect all fees, rentals, rates or other charges for said Project, and take all step�, actions and proceed3ngs for the enforcement and collection of such fea�, xentals, ratea� or other aharges which shall become dslinquent to the f�zll extent permitted or authoriz�ed by the Charter oi said Citg and by the law� of the �tate of Florida . ARTICLE N A�ISCELIADtEOTTS PROVISIflNS 14. IvIODIFICATIOPJ OR AP�'IENDhi.�IV�. No material modifica�ion or amenclment of this Ordinance or of any ordinanca or resolution amendatory hereoi or supplementai hereto, may be made without the consent in writing of the holder� of tsvo-thirds� o� m�re in principal amount of the Certif icates then outstanding; provided, however, that na modification or ar.nendment shall permit a chan�e in the maturitg of such Certificates or a reduction in the rate of interest thereon, or in the amount of tho pri�cipal obligation or affactin� the unconditiona� promisa of the City to maintain rates and rentals for the Project, as l�erein provided9 or to pay the principal of and interest on �he Csrtificates as the same sha11 come due from the Revenues, without the consent of tho holder oP such Certificate�e _�7_ C'1'"1'Y G` OIV16i ISS IQN A+IE�TING Au�ust 21, I950 Ord�.nanae 59�, �ont�d. 15, �EVERABILI'tY OF INVALID PROVISION. If any one or more of the cove- nants, a�reements or provisions of this Ordinance ahould be hoTd con�rary to any axpress piovision of law or contrax� to the pol.icy of express lavr, t;hough not axpressly prohi�ited, or against public poli.cy, or sha].l for any reasan whatso- ever be held iuvalid, then such aovenanta, agreements or proviaions shall be null and void and shall be deemad separable from the remaining covenants� a�ree- inents or provisions, and in no way affect the validity 4� a11 the other pro- visions of this Ordinance or of the Certifiaates or coupons issued thereunder. 16. REP[TfTDTNG OF CERTIFICATES. If the City shall at any tir.ie hereafter i:ssue Certificates, by eale or exc2�ange, to fund c�r refund any of the Certi- ficates issued pursuan�c to thia Ord.inance, the ord3nence or othor proceaclings� authorizing the issuance of such i'unding ar re.funding Certificates may provide that tlze hclders� of such i'�zndin� or refunding Certificatas sha11 hAve the sanie lien and alL the ri�hts and remedias of the Certificates ao funded or refunded; provided, howevel, that such funding ar reiluzding Qertif icates sha11 be in like principal amount and shall bear the same d8t98 of maturit�* tts tha Certificates f`u.nded �r reflznded by the issuance tl�ereof, 17. That Ben Krentzman, City Attorney,, be and he 3s hereby authorizadland directed to 3:nstitute appropriate proceed3ngs in the Cirauit Court of the Sixth Judicial Circuit of Florida, i� and for P3ne11as Countp, F].orida, for the valid- ation of said Certificates, and the proper officers of the Gity ars hereby authorized to verify on behalf of the City any pleradin�;s in such proceedings. The Cextif3cates hereby authorized stiall Ue sold and delivexed in such manner and upon euch term.s as shall be determined by subsequent aetion of tiie �ity Coirr� mission. 18. That it is necessary for the irmttediate preservation of the puT�l:Lc peace, prcipertg, healvh, and safety of the City oi Clear�rlater and its citiz.ens and inhabitants that the construction, 3.mprovement and equipzr.ent o� said Pro- ject, as authorized herei:�s ba undertaken and comipleted with tlle leas� possible delay, and th3� Ordinance ie hereby declared to ba an eL�ergency measure and sha11 take effect upon its passage es provided by law. 19. Th�t all ordinances and resolution� of the City Commission of the City of Clearwater, or parts thereof, in c�nflict with the provisions of this Ordi- nance are to the extant of such conflict hereby superseded and repea led. PASSED on firat reading, August 'lth, 1950. PASSED ON SECOrID readingy Au�;ust 7th, 195Q. PASSID AND ADOPTED on third and final reading Au�;ust 1i7th, 1950:0 Harsy Do Sar�eant ll4ayo r- C o�mni s si one � Attestt H. G. "+3in�o City Auditor and Clark Approved as to form and correctness subject to arnendment by Ordlr•ance �596 Ben Krentzman , City Attorney � - /rf'-� CT_TY CObIMTSSIOid I��TING August �1, 1950 ORDINANCE N0. 595 AN ORDTI�ATCE PROVTD2NG POR THE ACQUISITIOII Ar7D CONSTAUCTION OF �}CTENSIONS, II4iPROVII�;ENTS l�D1D BETTER�I�NTS TO THE UTILITY SYSTEbl OE' TfiE C ITY OP CLEARWATER: AU- THORIZIPIG THE ISSUANCE OF �p125,A00 Ir7IINICIPAL UTILTTY R�IEITUE CERTIFI- CATES, AIdD PROVIDING FOR TFiE RIGHTS'; OP THE I-T07I;pERi THEREQF. fiE IT ORDAINED BY THE CITY COMhSISSION OF THE Cl2TY OF CLEARWATER, F'LORIDA, AS FOLLOWSz ARTICL� I STATUTORY AUTHORITY� FINDINGS AND DEFIIdITIONS. ].. AUTHORIT.Y OF 2'HIS OI�INANCE. Th�s Orclinanae is adopted pursvant ta the provia3ons of Chapter 9710, Special Acts oi the Legialaiur9 of Flarida for �he year T923, and amendraenta thereoP and supplemeizts thereto, being the Charter oi ths Cit� of Clearvrator, and other applicable provisions of. law. 2. FINDINGS. It is herebg found and determined as follovrs: (A) That the Citg of Clearwater, nowr o�rns, operates and maintains ut�li�y proparties supplying waLer, gas and se�erage services in and to said City and its inhabitants ar_d under the abovementioned ;4tatutory autroritq is empowered to maint�in, operate, improve and e�ena auch utility propartie� and regulate and fix reasonable rates and charges:for the servicea furnished thereby. (B) That the Cit� derives revenues from rates, fee� and charges uiade arxi collected for the sexvices and facilities of said utility system and said rav- enuea are not pledged or encumb�red in any manner and that no obligations of any l�ind are charge�abls against the rovsnues of said utili.t� system, or any part �hereof, except as follows:. (1) The C3ty now has autstandin� its 'P�ater Revenue Certif3cates, dated December 1, 1935, in tho principal amc�unt of �36,000, oearing interest at the rats of four pe;r cent per annur.n and maturing seriall� on December T of each of the year� 1950 �0 1955, inclusive, v�hlch by their terms, are payable from and secured by a fi��sti charge on and pledge of the revenues derivad from ths oper- ation of the portion of said municipal utility properties supplyin� water service remaining after payment o£ costs of operation, maintenance and repairs of said portion of said utility properties. (2) The City now has outstanding its Gas �evenue CertiPicates, dated December 1, 1935, in tha principal am�unt of yp45,000, bearing 3nterest at the rate of four per cantum (4�) per annum and m�turing serially on December 1 oi each of the years 1950 to 1959, inclusive, which by their zerms, are payaUle frorm and secured by a first charge on and pledge of the revenues derived £rom the operation of the portion of said municipal utility properties aupplying ga� serv3ce remaining after payment of costs of operation, inaintenance and repairs oi ea3d portion of said utility properties. (3) The City now Y�as outstanding its Ga� Plant and Sewer System Re- funding Revenue Certificates, dated October 1, 19a1, in the principal aziount of �p16,000, bearin� interest at the rate of t3iree and one-quarter per centum {3�) per annum and maturing on Octobe� 1 in the yeare 195Y and 1952, issued p�.irsuant to Ordinance Number 484, adopted bg the City ConIInission o�' said City on Jan- uary Z, 194�, which by the3r terms are payable irom and secured by a first �harge on and pled�e of the revenues derived frarn tha operation oi the portion of said municipal utility propertiea supplying aewer service ramaining after p�gment of costs of operation, ma3ntenance and repairs of said portion of said utility pro- perties and by plodge of the revenues derived from tha operation of the portion of said municipal utility properties suppl�ring gas serv�.ce remaining after pay� ment of costs of operation, maintenarice and repairs of said portion of said utility proper�ies�and after there have been �lade therefrom a11 payments required to be mada for the benafit of the above describecl Gas Revenue Certificates:a (4j The City now 7ias outstanding its hiun3cipal Utility Revenue Certi- �3cates, Saries� of 1947, dated December 1, 1947, in the principal amount of �4'73,000, bearing interest at the rate of three pdr eenttuu (3p) per annwn and maturing on December T of each o�' the years 1950 to 1963, inclusive, issued gur- auant to Ordinance No. 550, adopted by the C3ty �oimnisaion of said City on November l7, 194`i, which by their terms are payable from and secured by a pledge of atxl, lien on the revenues derived from the operation oi' said municipal utility properties after the payment of all prior charges thereon 3n the manner provided in said Ordinanca No. 550. {C) Tliat the revenues of the portion of said municipal utility �roperties� aupplyin� sewer sarvice and �as service availab�e �'or deposit in the �ewer Rea- enue E�'und c�eated by Section S of said Ordinan�e Number 484 for a period of no�t less than twelve consecutive months, to wit, a per3od of t�velve con�ecutive m�cntLk�, preceding the adoption of this ordinance, have been equal to at ieast one and three- _/J- CITY COhIMISSTON MEETING Au�ust 21, 1950 Orclinance Na. 595, Cont�d. fourtha times �he amounts required to be depositad in the tfperation Account for which provision is made 3n Section 8 and required to be deposited ir.fihe Gerti£icates Sinking ES.ind for which prov3sion is made in said Section 8, and that the CitS* has procured and filed with the City Clerlt a stai:ement of H. I�. Turnburke, independent certified publia accountant of reco�;nizod reputation not in the regular employ of tho City, dated Au�ust �, 1950, reciting his opinion based upon necessary inuestigation t�at the net annual revenues of said muni- h cipA1 util.ity properties of said City �or the last two preced3ng Fiscal years Y1ave been equal to at least one and one-I�aZf �3mes the total �f the max3snLun amount +;hat will bec mne due in any one calendar yaar for (1) both principal of and interest on tlie l�iunic3pal Utility Revenue Certificatea, SeriAs of 19�7, now outstan�.ing, and (^ui) the amount that rvill becnme due 3.n any one calendar year for batY+ principal of and interest on the �ertif icates to be issued pur- suant to this Ordinance, ancl that the annuRl ±�rincipal and interost require- ments for the payment of the above described CVa�e� Reveziue Certificates, Gas Revenue Certificates and Gas Plant and Sewer Systsm Reiiznd3n� Revenue Certifi- cates hava been included in makin� such computation. (D) That the combinAtion and consolidation of all of the aforosaid municipal utility properties supplging water, gas and e,elvera�e services by prior action of th.e City Connnission is herebf ratif3ed, approved and confirmed, and in order to m�intain and operate said combined and consolidated manic3pal utility properties it ie necessary for the preservation of the hea].th, conven- iance and safety of said City and its inhabitants to acquire and construct ex- �ensions� improveraents and betterments to said municipal utility pxoperties, including but without being 13mited to a storage tsnk, pumps9 mains, pressure control valvos, pi�es snd fittings for the portion of said utilitg propert3os� �tzrnishing watar service, and to finance the cost thereoi by the issua nce of the certificates herein provided for., (E) That said municipal uti�ities properties shall be impruved and ex- tended substantiallg in accordance ��ith the plans and speciiic�tions: grepared by the City's Fnginaer, and heretofore filed in the ofiice oP the City Clerk at an estimated cost of r_ot exceeding �12.5,000. Such cost shall be deemeci to include the cost of the construction or acquisition of extensions, improvement�= and betterments to said municipaT utility properties, including the aequ3siLion of any lands or interest therein and of any fixtures: or equipment or propertie�. deamed necessary or conven�ent therefor, interest upon the certzficatesr issuecl pursuant to this Ordinance prior to, and durin� and for gi� months after the completion of such extensions, improvements a,nd betterr�zents, engineering and legal expenses, expenses for estir;:ates of costs and of revenue�, expenses for plane, s�scifications and survegs, admini�trative expenses�and such other ex- penses as may be necessar� or incident to the finAnczn� auth�rized by this Or-- dinance, and the construction or acquisition of the extensiona, 3mprovement5 and betterments authorized by this �rdinance and the placing af same in operation. (F) That the estim�ted revenues to be derived from the operataon of said comt�ined and consolidated municipal utility properties vaill be more than suffi- cient te pay all operating and maintenanco costs�, to pay the annual interest and sinlcing fund requirements for said outstarldin� 9Vater Revenue Certificates, Gas Revenua GertiPicates, Gas Plant and �ewer System Refiznding Revenua Certificate� and DLunicipal Utility Revenue Certificates, 8eries of 1947, and to pay the annua� interest and sinking fund requirements for the additional certificates herein authorized, and that it will never be neoessary or authorized to levy taxes on any real propert� in said Cit� to pa� the principal of or interest on any of the a;forementioned cert3.Picates or certific�tes to be issued pursuant to this Or- dinance, or to m,ake any of the reserve, sinking fund or other payrnents providAd f.or in tYzis Ordinance, and that the certificates 3.ssued pursuant to this Ordinancs shall not constitute a lien upon an� of the said municipal utilib�* properties or upon any other propert?� whatsoever of the City. (G) That all of the obligations of said City as undertaken and e�pressed, by the proceec,.3.ngs pursuant to v+hich said outstanding VPater Revanue Certificates, Gas Pevenue Certificates, Gas Plant and S'ev�er Sgstem 1?efunding Revenue Certifi- cates and biunicipal Utilitg Revenue Certificates were issued are current ao as to enable the City at this ti�e to issue additional re�enue certificates as herein providedo 3. ORDINAPICE TO CONSmITUTE CONTRACT. In consideration of the �cceptance of �he certificates authorized to be issued hereunder by those who shall hold the same from time to times this Ordinance sha11 be deemed to be and sha11 con- stitute a contract bet�reen the City and such certificateholders, and the cove- nants end agreements herein set forth to be performec� by said City shal� be for the equa7. bensfit� protection and securitq of the le�al holders� of any and all. oP such Gertiflcates and the coupons attached thereto, a1T of which shall be of equal rank and v�rithout preference, priority or diatinetion of any o� the certi- ficates or coupons over anq other thoreof, except as ex�reasly provided thereita ami herein. 4. TY�at ell provisions anc? declarationa for the ownerahip, control, eperation and maintenance by the Cit� of Clearv�rater, Florida, of ite� municipal utilit;y properties sugplying water, �as and se�rage servic6s in and to said City on a combined and consolidated basis are hereby ratii'ied and confirmed, and so long as any of the revenue certificates hereinafter authorized remmin ou�stand- ing and unpaid said rmitiicipal utility propertie3 sl�al.l be so oa�ned, controlled, operated and maintained, and shall conatitute the aecurity for said revanue certifi.cates hereinafter authorized and provided. a��_ CITX CabibiIISSI0I�1 MEETII�TG Au�ust 21., 195Q Ordinance No. 595, Cont�d. 5o ThAt for the purpose of constructing extensions, imprccements and battexmen�s. to said municipal utility �roperties there be and there axe hereby ordered 3ssued the negotiable Tdunicipal Utility Revenue Certificates, Series• of 1950, of said Cit� in the totaT principal amount of One Iiundred Twentg- F'ive Thousand Dollars (y�125,000). S�3d Cert3ficates shall be in the deraom- ination of �j�S.,000 each, shall be numbered 1 to 125, inclusive, shall be dated June 1•, 1950, and shall bear interest at the rate oi three per centum (3f) pex annum pa�able semi-annually on the first days of June and December of each year, and said cextif icates sr�a11 bscame due in their numexical order on December 1 of each year, �5,000 in ea.h o= the years I952:to 1956, inclusive, �10,000 3n each of tho years� 1957 to 1963r inclusive, and w15,000 in each of {;he yeaxa 1964 and 1965, provided, that said certificates numbered 26 to ]i25, inclusive, ehall be opticnal i'or redemption by said Cit� prior �o maturity in vrhole, ox� in part in the inverse os�der of their ma�urity (less than all of � singTe maturity to be selected by Totj on December i, 1956, or �n an� interest p�yment date thereAfter, and in the event of the exercise of such ri$ht of re- demption of any of saicl certificates as aforesaid said Citq agree� to pay to the holder thereof upon redernption o£ such cert3fieate� interest in addi�tion to that evidenced by interest coupons then accrued, in an amount equal to thre� pex cent C3o) o� the principal amount thereoP if called for redemption on or prior�to December l, 1959; ttivo per cent (2p) of the principal amount thereo� i1' callecl for redemption thereaf{;er and on or prior to December �, 1965; ane per cent (lf) of �he principal amount thereof if called far redemption there- after and on or prior to December 1� 1963'; and without payment af add3tional interest iP called for redemption thereafter, and said City agrees that notice of any such redemption identifying the certificAtes� to be redeemed w�ll be publiahed at least once not less than thirty da�s prior to the redemption date in a news,paper or financial journaT of genara� circulation publishad in the Citg o£ New York, New York, and ang such cer�ificates thus eslled for re- demption and as to which funds for the retirement thareof' �re deposfted at th� designated pl�ce of payraent on or before such redsmption date will cease to thereafter bear interest, Said certificatss� ehall be pagable as to both prirr-- cipal and interest in lawful money af the United States of America at the prin- cipal oifice of Chemical Bank & Trust Company, in the Ci�q of New York, New York. 6o That said c�rtificates shall be executed on behali of said City by its City Auditor and Clerk and ita �ity b?anager, and countersigned by its �iay or- Conunissioner, and shall have impressed theraon the corporate seal of the City of Clear�rater. Interest on said certificate� at the rate of three per centum (3'�') per annum shall be represented by coupons attached to each of said cer�i- ficates executed Nith the facsimile signature� of said Cit� Auditor and Clerl�, Ci-ty Manager and I�tayor-Counnissioner, and said officials, by the execution of said certificates, shall adopt as and for their own proper signatures their respective fa+csimile signatures appearing on said coupons�. "/o That said certificates and the provisi�ns to appear on the back there- of shaTl be ir QubstantialZy tha following form: II1�tIiID STATES OF Aiv:ERICAc STATE OF FLORIDA COUNTY OF PTNELL4S • CITY OF CLElLR�'VATER h1I�NTCIPAL UTILITY �VENIIE CERTIFICATE SERIES OF 1950 I�o . �1,000 TIiE CITY OF CLEARWATER, in the County of Pinellas and State of Florid��, for value received, hereby promiaes� to pa5* solely frc� the speciaZ� i'und pro- vidsd therefor, as hereinafter est iorth, to the bearer or, if this certifica�te be registered as to prinaipaS, to the regi�tered owner hereof, on the first day af December, 19 ,�he prinaipal sum o£ One Thausand Dollars (�1,000) and to pay irom said special #lznd interest thereon from the date hereof at the� coupon rate oi' three per cent (3 0) per anrnzm semi annual3y on the first day of June and Decrmber of each year until paid, except as the provisions hereinafter set forth with respect to redemption may be and become applicable hereto, sucki interest as aforesaid as niay accrue on and prior to the maturitq d�xte hereoP to be paid only upon t?he presentation and surrender o� the �nnexed interest coupons as they 9e�veral'ly become due. Both pra.ncipal of and interest on this certificate are payable in lawful money of the United States of America at the principal �ifice of Chemical Bank & Trust Compiany= in the City of New Yerk,, New York. This certificata is one of an issue nuiubered consecutively from 1 to 125, inclusive, issued Uy said City pursuant to and in flill compliance with the pro- vis�.ons of the Constitution and laws nf the State of Florida, including the charter law of said Gity, and pursuant to an ordinance duly adopted by tha Citg Commission of sai� Citg, The issue of cert3ficates of which this certifiaat� is. or.e hs.s been authorized and iasued for tha purpose of payin� and financ3ng the cost of improvemerts, bettarments and axtensions to the munic3pal utilit� pro- part3as o.f said City, supplying wator, gas ancl sewage services. It is provi�ee'C in said ordinance that the Comm3.ssion of said C3ty shall fix and mainta3n rates and collect charges for the facilities and services affordod by said utility pro- perties suffic3ent to provide revenues adequate at all times to pay the cost of operatin�, znaintainin� Qnd repairing same, and to pa� into a special fund creat� ed by said ordinance amounts fully suf�icient, afl;er allov�ance �or such costs of s�peration, maintenance and repairs, to prnvide for ths pronpt payment of the _ �,_ . CTTY COD4iISSIO�T hiEETIN(3- Rugust 21, 1950 Ordinanne �io. 59�, Cont�d. iriterast on and principal of said iseue of certificates and a11 other c�r�3_- ficates issued on a parity there�vith uncler the restrict3on� and provis3ona of aaid ord3nance; including an authorized iasue of ��52'5,Q00 hiun3.c�.pa]1 Utility Revonue Certificates dated December 1, 1947, of which �p�73i000 ara outstand3.ng as of the date hereof; provided, said City has outstanding certain Water Reve- nue Certificates, Gas Revenue Certificates and Gas Plant tznd Sewer System Re- #�nding Revenue Gei^tificates, v�hich by the3r terms are payable from and se- curAd �,y a first charge on and pledge of respectively the revenues;derived from tho operation of �he v��a�er works utility propertiEs, sewer system and the �as plant and system of said City remaining af�ar payment of costs o£ operatiun,, maintenance and repairs of tllose xespective portions of said municipal utility properties, and payments into said spocial flznd as aforesa3d ara sub,fact to the vested r3ghts o£ the holders of such of said y�ater Revenue Cer�ificates, Uas Revenue Certificates and Gas Plant and Sevrer System Retlznding Revenue Certi- ficatea as may be outatanding fro� time to time. This certificato, including interest hereon, is payable �olelg from said special �und and does not annsti- tute an indebtedness of said Citg Q�ithin the zneaning of any cons�itutional, statutor� or charter limitation. The C3ty of Clearev�ter is under no obZi- gations ta pay this certificate or intereat thereon except from the revenues of the municipal uti3it�y* properties as aforesaid. Certificatea of the issue of which this certificate is one, numbered �u' to 125,, inclusive, are optional for redemption by said City prior to maturity in whole, or in part in the invarse order of their maturity (less than all of a single maturity to be selected by 1ot), on December �, 1956, or or_ any interest payment date thereafter, aiid in the event of the exercise of such right of redemption of any of said certificates as afo�esaid sa3.d City agrees to pay to the holder thereof upon redemption of s•uch certificates interest in addition to that evidenced by interest coupons then accruad, in an amount equa]i to t}�ree per cent of the principal amount thereof if called for redemption on or priar �o December 1, 1959; two per cent of tha principal amount thereof if called for redemption �hereafter and on or prior to December 1, 19671; one per cent of the principal amount thereof if called for rsdemption thereafte� and on or prior to December l, 1963; and without pa�ent of additional interest if ealled for redenption thereafter, and said C3ty a�re�s that notice of any such redemption identifying the certificates to be redeemed, wi11 be published at least once no� less than thirty days prior to the redemption date in a news- paper or fir_ancial �ournal of general circulation published in the City o� New York, Nev�''Iork, and any such certificates thus called for redemption and �s to svhiciz �nds for the retzrement thereof are deposited at the designsted place of payrient on or before such redemption date will cease to thereaiter bear interest. Thi� certificate with interest coupons hereunto appertaining is issued upon the fol�.owing terms and conditions to all oP which each taker al�d owne� hereo£ and of the interest caupons consents and agrees�: (a) Title to this certificate, unless registered as herein provided and to the annexed interest coupona may be t�ans�'erred by delivery in the s�1me manner as a negotiabZe instrument payable to bearer; (b) Any person in possession of this cer�ificate, unless re�istered as hexain provided, or of the interest coupons• hereunto appertaining, regard- less of the manner in which possession shall have been acquired, is hereby authorized to reprasent himseli as the absolute owner thereof and is herebq granted power to transfer abs�lute title thereto by delivery thereof to a bona: fide purchaser, that is, to anyone who sl�all puxchase the same for value (pre- sent or antecedent) without n�tice of prior defenses or equities or claims of ownership enforcea�ale a�ainst his transfer.ror; every prior talcer or ov��ner of this certizica�e, uz�less registered as herein provided and of ihe annexed intereat coupons, waives and renounces� sll of his equit:Les or r3ghts fi�izer�ein in favor of every 3uch subsequent bona fide purchas�er, and every guch bona fide purchasar sha11 acquire absolute title thereto and t� all rights represented thereby; and (cj The Git� of Clearwat;er may treat the bearer of this certificate, unless registered as herein provided, or of the interost coupon� hereunto appertainin�;, as the absolute owner thereof .for a1T purposes without being affectecl b� any notice to the contrary. All act�, conditions and things req�u.ired by the Constitution and laws of Florida, and the charter of said C3ty to happen, exist and 'be perf orm�d precedent to and in the issuance of th3s certificate, have happened, exist and have been per£ormed as so reg,u�reda This certificate is registerable as to pri�cipal alone in acr;ardance w3th the provisions endorsed herean, TN WITl�'$S tiVHEREOF saicl City of Clearwater has causod tlzis certificate to be executed on ibs bell,ali bg �ts G3ty Auditor and Clerl: ax�ct its City P�ianager, aountersigned by its hIayox�-Comnissiozier, under its corporate aeal, and �he in- terest coupons hereto attached to be executed with the facsimile signature� o.f said officera, all as of the firs� day of June, 1950. Gountersigned: R�Iayor-Commis9ioner CI'I� OF CLEAFitii1ATEIt, �'LORID�. By 'i�ty Auditor and C1erk F3q Cit�� Rlazlrager � �� y �� CITX COl�",�IISSTON MEETING August 21, 1950 Ordinance �`595, Cont�d (FORI� OF COUPON) NU. � On the first day of , 19 a the City of Clea.rwater, Florida, will pay t�o bearc�r at �hem3c�l Bank & Truat Cnmpany, in the City o£ New '3Cork, New York, the s�.um of Fifteexi Do11ar� (�15.OQ) solely from the special fund xaferred tn in and for the aemi-annual in�erest then due upon its I�Yunicipal Utility Revenue Certificate, Ser3.es of 1950, dated June 1, Z950, �hunbered . Mayor-Commis�ioner itg Audi or and lerk Citg hanager (PORItiI OF VALIDATIOP] CERTIFT.CATE) Validated and confirmed by a decree of the Circuit Court of the Sixth Judicial Circuit, in and for Pinellas County, Florida, rendered on the da3 of , 1950;. Clerk of said Circuit Court (CERTIFICATE OF REGISTRATIONj mhis certificate mag be registered as to principal on the books� of the City Auditor and Clerk of the City of Clearwater and n_otat,_on of such regi�tra- tion made hereon, and this certificate may therea£ter be transferred on �aid books by a vnritten assignment by tre re�;istered owner or his attQrney, dlzly a�cknowled�ed, or proved, and notation of such transfer en�orsea hereon. SucY* tiransfer mr�y be to bearer anc� thereby transferability by deliver.y shalZ be restored, subject, howeroer, to suc�essive registration and transfer as before. The principal of this cartif3cate, if registered, unless registered to bearer, aha11 be payable only to the registerod ov�ner, or his legal representatives but the coupons appert�sin3r� hereto will remain payable to bearer, notwith- standing registration of this certi�icata. Signature of Name of Date of City Registerec� Regis- Auditor &. Aolder tration Clerk _ ' _ a s 8. That said Certi�icate� shall oe re�isterable as to princ3pal in accordance with the provisione £or registration hereinbei'ore provided for en- dorsement upon said certificates, and the Citf Auditor and Clerk is hereby appointed and desi�nated Re�istrar for such purpose. No charge shall tae made to any holder of said certifica-tes fnr the privilege of re�is:tration. 90 That tb.e City of Cleas°v�rater herebv covenants and agree� with each succesaive holder of the Certifioates herein authorized and the coupons there- to attached tl� t so long as any of the said certificates are outstanding it will continucusly own, control, o�erate and maintain its r�unicipal utilit� properties� supplying water, gas and sewage services in and to said City on aa combined and consolidated basis and wi11 at all times fix and maintain rate� and collect char�es for the facil3ties and servicos aiforded b� said muni- cipal utilii:y propert3es i�11y suFficient at all times: (a) To pay tiie reasonable anc� necessary cos�t of operat3ng, main- tainin� ancl repairing said utility properties. (b) To mainta3n from i;he &ccountable revenues from ths port3on ai said ut3�.ity properties supplying water services and facilities the ��4'Vatervrori�g RevPrnie Certificates� Sinki,�g Fund�� provided and required �Q be ma3ntained to secure the payment of the presently outstanding V�ater Revenue Certifi�ates of said City dated December 1, 1935. �r� .� �� _ CTTi' C�nIP.:ISSION DiL�'E9.TING Au(,us� 2.1, �950 Ord3nance �595, Con��do (cj To maintsin from the accoun�aUle revenues �rom the �aortion of said utility properties suppl�yin� ga s servicas�and facilities the hGas Etove- nue Certificate� Sinking Fux1d" provided and requ3red to be maintained �o eecure the payment of the presentlg ou�stand�.n� Gas Revenue Certificates of said Gity dated December l, 1935. (d) To maintai� from the accountable revenues from the portion of said utilit� pro�ertias� sLpplyin� gas services ard facilitiea and sewer ser- vices and faailities the "Refunding Revenue Certificates Sinl��.ng Fund�� pro- v3ded and required to ba maintained under the provisions of the above cle� cribed Ordinanco Number 484 �o secure the payment of such of f;he Gas �'lrant and sewer System Refunding Rovenue Certificates as may be f'rora t3xne to time outstanding, and specifically to assure tho existence of such revenues annualZy equal to one and three-�ourths t3nies the amounts required to be de-� posited in said sinking fund and in the Qper�tion Account pursuant to the provisiors of S'ection 8 of said Ord3nance Number 484. (ff) To maintain the special iiznd created and designed °�Zunicipal Utility� Reve�ue Certificates Sinking Fund,,tP under the provie3ons oi' tha abova described Ordinance Number 550 sufficidnt to provide for tize payment of the principal of and intarest on the outstanding hiun:icipa 1 Utilit,y Revenue Certi-� ficates, Series of 1947, the interest on the certificates herein auth�rized and those herein permitted to bs issued on a parity therewith as such interest fa11g due, pay �he principsl thereof at or before maturitv, and to provi�e and mairs- tain a reserve for contingencies as hereinaf�er provid�d; and (f) To prov?de fbr and permit to be set aside inta a spec•la1 fund hereby created and designated ��Depreciation F1.uzd�� an anount equa� to a�t leaat three per cent of the �ross receipts or 'revenue� of saicl municipally owned and operated utility propert3es and to be used for exteneion or replacemant of capital assets of said properties• and utilities. 10. 'lhat the gross revenues of said utility properties� sha11 be de- posited as received in a i`und separate and apart from a11 other Fund� or accoumt� of s�id city, to ba designated as the ��Utility Revenue N'und,�' provided that, so long as there are outstanding and unpaid any of the a�'oresaid Vdater Revenue Certificates, Gas Revanue Certificates or Gas Plant and Sewar Systsm Reiilndin� Revenua Certificates �f said ci�y, a separate accounting shall be kept of the amount of such gross revenues of the re�pective portions of said utility pro- perties � The r,zoneys in sr�id account slzall be set e.side on the :£irst day of each �onth into separate and special ilznds as follows: (a} Operation, 2Yfaintenance and Eiepair Fund� There shall be a fl.inrli lmown as the ��Operation,, P.iaintenance an� Repair Fund,�� .nto which there slzall be paid r.ionthlp out o£ the gross revenues a sufficient amaunt for the reason- able current expenses of operat:tng, maintairzing and repairin� tha said utility �roperties; provided, t]�at so long as there are o�atstanding and unpaid any of the a�oresaid Nlater Revenue Certii'icates, Gas Revenue Certif;.cates, or Gaa P�ant and Sewer Sastem Refunding Revenue Certificates of said city, a separate� accountin� sha11 be kept of the reasonable current expense� of oper�ting, main- taining and repairing the respective portion� of said utility properties�, and the amoUnt� thereof shall be chargeable aga3nst the separate aceounting of th� gross ravenueg from those pertiona of said ut�_litq properties, (b) '4`fater Revenue Certificates Sinking Pund; So lon$ as there are outstanding and unpaid any Water Revenue Certificate� of aaid c3ty, dated December l, 1935, thare shall be paid into the special flxnd secux�ing the pay- ment thereoP tho required a�ounta from the separate account3ng of the revenue� of the portion o� said utility proper�iss supplqin�; t�ter services and i'acilitis�, all as provided and reqLlired by the proceedin�s pursuant to which said Water YVorka Revenue Certificates� were issued and are z�nvr outstanding; (c} Gas P.evenue Certificates Sinking Fund: �o long as there are out- 3tand3ng and ungazd any Ga3 Revenue Certificates of eaict city dated T�ecember 71r I935, there ahall: be paid into the special i�.nd securin�; the payment thereof the required amounts from the separate accounting of the revenues of the por- tion of said utili-ty propertie� supplq•3ng gas �ervicea and f�ciliti.es, all a�g provided and required by tn.e proceedings pursuant to v�hich said Gaa Revenue Certificatas were issued and are now outatanding; (d) Refunding Revenue Cert3iicatea Sinking Fund; So lon� as there are outstandin� and unpaid any of the above deacribed Gas F1ant and Sewer Re- funding Revenue Certi.�icates there shall be paid into the spe�ial fund securing the pay,rsent thereof, the required amounts i'rom the separate accounting of the revenues oi' the portion of said util.ity properties supplging gas services and facilities and sewer serv3.cea and facil3t3.es �rovided to be paid thereinto under the provisions of the aforesaid Ordinance PTumber 4£i4, and it is apeci- ficallg provided, recited and a�reed that nothin� in this ordinance contained shall be cox�strued to pledge to the payment of the Certi.P9.cates herein author- ized revenues �o be deiivc�d from the portion oi sa id utility properties aupply- ing �as services and facilities•., except to the extent that such revenues exist in an amount equal to one and three-fourths� times the amounts xequ3red to be: deposited in the Operation Account and Rei'undin� Revenue CertiPicatea+ Sinkin� Fund establ�shed b� Section 8 0£ said Ordiz�anae Number 4a4d [�11 a��reementa� and cbligations� horein contained and imposed on the city by �av✓s pur9uan� to v�hich the city s}�all hereaPter be obligated. to make the revanues of said com- b3ned utility properties sui'fic3ent ta carry out all of tha ob].i�ations oi' thi� _ G��• C ITY C Ot�11vt TS S ION h1EET TNG August 21, 1950 Ordinance ,�5559 Cont�d. oxcl.inance, shsll. be so aonatrued as to raquire the city ta impose and collect rates ancl char�es for the cammoditiea and services supplied by said c:ombined util3ty properties in an amount iu1Tg au,fficient to carry out all such ob- ligations after there have bee� deducted therefrom ga� aind sewer r•evenues in an amount equa7. to one and three-iourths �times the amounts required to be deposited in eaid Operatioiz Account and Ref`undin� Revenue Certificates SinT� in� Fund under the provisions of Sectiox� 8 of Or�inance Number 48� �foresaid. (e) Mun3c3pal Utility Revanue Certificates Sinking Funds The ��Nlunicipal Utility Revenue f;artificate� Sinking blznd,i� (hereinaiter sometimes rsferred to as the "�inking fund") s:hall be used solely and only for the pur- poge of paying the princi�.�a], oi' and. interes-t on the outstanding A4unicipa7! Utility Revenue Geri:ificatss:, Serios oP 194'7, the Certificates herezn a�u.thoriz�d, and any additional certificates that may be issued on a parity therewith under the re�trictions and provisions herain�ifter set forth.. After making the required rnonthly payments into the Operation, LTair�- �enance and Repair Punc1, in�co the YJa�er workg Revenue Certificate� Sinking �zrid, into the Gas Revenue Certifiaates $inking Fund, and into tYie Refundin� Reve- nue Cer�ificates Sinking Fund as hereinbefore in this Sact:ion provided, �hare shall then be set apart and paid into said ainking fund each �ear in squa7! monthly ins�allmex�t� a auPficient portion of the remaining �ross reJenues for the services; and facilities rendered b�* aaid municipal u+:ility properties so aa to pa� promptl� vihen due the interest on and the principal of a11 sueh certi- ficates #'rom �i�:e io tim e outstandin� �nd to also create during the first f iva Srears following the �ate of issuance of any such cert�ficates, and to there- after maintain a reserve in said i'u.ncl in an amount equal to ten per cent (10 0) af the principal amount of such car�ificate3 theretofore i�s,ued. Compu.tations for such monthly pay�ents shall be made as of December I of each gaar, and t'!�� amount to b� �o set apart and paid into s�aid sinkin� fund in each month fro� and afte� such December 1 shall be one-sixth of the amount of interest to be- come due on the next succeedin� interest payrient date plus one-ttrellfth o£ th� amount of principal to bocome due on th� next succeeding December 1, provide�, for the first five years following the c�ate of is�uance of any rever_ue certi- f:Lcates an additional amount of said revenues sha11 be paid into said sinking fund mantl�ly so that at the end of said period of five year� a reserve tivi11. have been accumuSated equal to ten per cent (10�) of tho principal amount of any such certificate�s. If, in any �onth, there be a fa�lure for any reason uo� pay �he required amount into said sinking fun�, t�e def3ciency ahall be added to the amount otherwise raquired to �e set apart and paid into said flznd durin� the succeeding month. Ido part of said sinking fund sha�l be used or applied to the redemption of certificates priar to maturity unless a11 oi the certiif'icates then outs:tand- inp; are to be redeemed or retired. I10 further pa�ment� need lae made into saic� sinking fund r��hen ancl so long as the amount than held there�:�, incTudin�; the reserve, is equa7. to the entire amount of intsrest and principal that Svill be payable at and bei'ore the tine of retirement of all o� �uch cextificates then rer�ainin� outstanding. (f) Depreciation Fund; There shall be r.,aid into the ��Depreciation ��`und° an amount equal to at least three per cent (30) of the gross rec�eipta or revenues of said mun3cipa1lp owned and operated utility �ropertiss to be •used for extension� or repl�cements of capital assets of said properties�and utilities. Tn each month after making the required payment irzto severa]1 f'unde a g hereinbefara in this� section provided, the balarace in the IItility Revenue Fund (3n excess �f the: amount estimated Uy the City Commission to be required to be p�ithclrav�n therefror.i during the next succeeding three rionths for like payment�J may be set apart and paid 3.nto the 'tDeprec3ation Fund° &nd be used for paying the cost of necessary extenaions and replacements to tha said �unicipal utility properties� to the extent required from time to time for th�t purpose and otherwise such balance may be used to purchase or retire cerbific�tes iri advance of maturity or ma�* be expended or �vithdra�^m on order oP the Gity Com� misslon for any 1•atti�ful purpose. Al1 money which is or should be by the foregoing provisions pa�.d 3nta� the sinkin� fund is heret�y gledged to the payment of the interest or_ and prin- cipal ci' the outstanding 14iunicipal Utility Revenue Cert3.ficates, Series oi 194'7, the certificates here3.nbefore Authorized �nd such additional certificate� rani� ing on a parity therawith from time to time outstanding and which are payala�e therefrom, and said money sha11 be deposited in a solvent bank or banks as � fund separ�te and apart irom all other municipal funds, and each and every such depoait, to the o�tent it eauses the ag�;regate of deposits by said Gity in such bank to be in excess; o�' �5,000. sha11 be continually secured by surety bond or bonds writ�en by a surety company or conpanie4 of recognized standing os*by th� valid pledge of direct o�bli�ations of tha Un3ted St�tes o� Anerica, having an a��regate market value, exclusive of accrued interest, at al1 times equal to the amount of such exaess�. ll. Tha� �he certif3.cat�s suthorized to be issi.led hereunder shall be on a parity �vith the n'[un3.cip�1 Utility Revenue Cer�ificates, Ser3es of 1947, �a to sou�ce ancl security for the payn�ent thereof from the revenuas of the utility propertiea and shall no� be entitled to priority one over the other in the app�.ication of the revenues• of the niunicipaT utility propert3es, regardless: of the t3me or �imes oi' their issusnce, it be�.n� 1;he intention that there shall be no priority among the certl.iicates regarrlless of L�e fact tha� they may be ac- i;u�11y iasued and delivered at different times. The Cit;� agreea not to 3ncur any acldii:ional ob7�igations; payable from tne revenuea: of said �nznicipal utility _ �.t,,' CITX COMhiTSSION n2EETTNG August 21, ],�5Q Ordinance No. 595, Cont+d. praperties which will have priority in any respect to the cert3ficate� horein authorizsd; providad, that said cit,y kiAreby reserve� tk�.e right and pri�rl,��ge of issuin� a�dditional eertificatea �'rom t3me to t3.�ne pa�able from the revenues, of eaid municipal utility propertios ranl�ing on a pari�y with the certif3catea: hereby authorized and the outstending Nlunicipal Utility Rev�nue Cert�.f3aates,, Series of T947, in order to pay the cost o�' exte�sions, impxovemonts and better- ments� to aaid properties;; provided� that bafare any sucl� additional certificate� ranking on a parity may be issued tYiere ahall laave been procured and. filad wi�h tYie Gity Clerk oi' sa�.d city a statement by an �.ndependent certified public ac- countsnt of recognized reputatian not in the regular employ of �he cit3 recit- in� the op3nion based.upox� necessary i�vesti�ation that the nat annual. sevenue�, of saicl munioiri,l utility properties of said city for the leat two preced3ng fiacal 3*ears has been equal to at leasb one and one-half times the total o£ tho max3mum amount that will become due in any one calendar year for (�.) both prin- ci a,al of and interest on the outstanding Aiunic3pal Utility Revenue Certificates, Serieis of 1947, and the certi£3cates issued hereunder then outstand3ng, snd (2) the amount that will become due in a�ny one calendar year for both Principal of and interest on the certificatea then proposed to b� iasued; and provided also that the interest payment daLes for �ny such additional certificates shall be semi-annually on June Z and December 1 of oach �ear and the �rincipal maturitiea of such additional certiPicates shall be on Aecember 1 of the year in which any of such principal is scheduled to beaome due; �nd provided also that whils saiti city has outsta�ing any Water Revenue Certificates or Gas Rovanue Cer�tificate�3, dated December l, 1935, or Gas Plant and �Sewer System Re�-anding Revenue Certifi- cates, the annual principal and interest requirements for payment of same shall bo incJ.uded in m�king such computation. The additionel certiiicRtes, the issuance of which is restricted bq this seotion, shall be understood to mean obligations paqable from th� revenues oi tne mu�icipal utility properties on a parity w3,th the certificates herein spe�ifically authorized and shall not be deemed to include other obligations,. �he sacurit� of which is subordina�a and sut�ject to the prYor and superior security of tha certificates authorized to be issued by thta ordinance. °Net darninga°i are defined as gross revenues, leas operating expenses, which shall include salaries, wages, c,ust of maintenance and operating materials and supplies, pumpinp3 costs,. insurance and maintenance expendituras. The provisions of this section are subjec�t to the exception that 1Py prior to the payment o£ the certi�P3cates herein authorized, it shall be found desirable to ref�.ind same, or ang other certificates ranking on a parity there- with, said certif icates or any part thereof r,iay be reftznded, and the refunding certificates so iasued shall enjoy complete equslity and parity with tr.e portion of said certificates which is not reiiuzded, if any there be, and the refunding c�rt3£icates sY�al.l continue tio enjoy, whatever, priority over subsequent: issues that may have been enjoyed by the certiPicates thereby rePunded; provided, how- e�er, that if only a portion oY the certificates outstanding is so ref'unded in such max�ner that the interest rate is increased or that the reftiznding certif3- cates mature at a date earSier than the maturity date of any af tlze certificates not refund�d, then such aertificates may not be refunded on such paritg without the consent of the holders oP the unrefundad portion of all oP the certi�icates, then outstanding. 12. It is hereby covenanied and agreed that so long as an� of th� certificates hereby authorized are outstanding the city will carrg adequate fire and windstorm inanranca on all build.ings and structures of the utility properties. which are subject to loss through fire or windstorin and will carry adoquate public liability insurance and will otherwisa carry insurance of the kinde and in tha amounts norma7,?_g carried in the operation of similar utility propertie� in Florida. A11 moneg raca3ved Por losses under any of euch inaurance, except public liability, and excapt as may be otharti�ise required by reason of contract rights vested in the holders oi any oP the outatarding certificates payab7.e from the revenue�: oP the utility proparties, shell be pa3d into the Deprecia�ion Pund and. diabursed for the same purposes as are other diabursements Prom the Depreciation F�nde 13. That the citg hexeby covenanta and agreea it will cause proper books and accounts adapted to the utility propertiea to be kept and will ceusa the books and aecounta to be audited annually by a recognized indepen�ent certified public accountant and will mc�ke generally available to the holders of any of the certiPicates the balance sheet and the proi'it and loss statement as certiYied by such accountant. The halders af any o�' said csrtificates siiall have at al1 reasonable ti9nes the riglit to inspect the util3ty properties and the records, aecounts and data of the city releting thereto. 14. That while the certificatea authorized hsrein, or sny o� them, remain outstanding and unpaid the xates for all 9ervicea and Pacilit3es ren- dered by said utiliLg properties to said city and to its citizens and to all consumers within or without the boundaries of said City shall be reasaneble and juat, taking into account and consideratinn (1) ths oost and value of the properties and the cost of'maintaining and operat3ng seme, (2) �he proper and necessary allowances Por the depreciation thereof, and (:5) �he a�nounta re- quired to be paid in�r� the sinking Pund Por the intarest on and retirement of the oertificates herein authorive� or permitted to be igsued, and there ahall be char�ed and enforced against all usex9 of said aervices and facilitibs, in- cludin� said city9 such ratea and amounts•as shall b� aclequate to meet the re- quiremanta of this ordinance, �i� v _ �� CIR'Y COMMISSION nIEETING Auguat 21, 195Q. Ordixiance � 595, Con��d. 15. The Provisiona of this ordinance may be enf'orced by mandamus or in� junction on bek�alf of tho holders of the certificates from tirne to time out- r�tandin�, but there shall be no liabilitg adjudicated hereunder against the n.ity ae a whole, nor agajnst any �enera7. corparate furida or aesets oP tY?e Gitg. 16, That the period of usef�.illness of the improvements� extensions and petterments which are �o be constructed vrith the proceeds aP the certificates herein autharized is hereby found to be not less than thirtv-five years. 17e That Ben Krentzman, as attorney for the City of Clearwater, is hereby authorized and directed to take appropriate proceedings� in the Circuit Cour� of ths Sixth Judicia2 Circuit of F'lorida, in and for Pinellas Cauntqs for the valida�ion of said certificates, and the Mayor, City Manager and City Auditor ar.d Clerk are authorizad to sign any documents deemed necessary in such proceed- ings. The certiPicatea hereby authorized shall be sold and delivered in sueh manner and upon such terms a s may be prescribed by the City Cormnission. Al1 sums received as acarued interest shall be paid into the sinkin� ftznd and all othen proceeds she 11 be axpended on order oP the Citq Cou¢niasion for the purposa for which said certificates are herein authorized, 18. TY�at if any section, paragrmph, clause or provision oP this or- dinance sha ll be held to be invalid or unenforce,able for eny reason, the in- validity or unenfarcesbility of sucli se�tion, paragraph, clause or provision shall not effect any oP the remaining pravisions of this ordinance. 19. That by reason oi' the urgent need for f`unds to pay the c�s� o� thase improvements, extensions and better�nents, as hereir provided,. for the preserv�- tion of the health, safety �nd welfa.re of the inhabitants of said city, an emer- gency 3s hereby declared and �his ordinance shall be in full force and e£iect immediatelg upon its adoption as provided by las�. PASSED ON first readir_g, August 7, 195a PASSED ON second reading, August ]:7, Ti950 PASSED AND ADOPTED on third and final� reading, August 17, 195(2 Fiarr,� D. SarReant hYsyor-Cormnis sioner Attest: H. G. Win o ty Audi or &. C eri� Approved as to form and correctneas subject to amendment by Urd. �`597 Ben Krentzman Ci Attorney �; �, . • .-� ORDINANCE'N0. 596 City Co�ission MBeting August 21, 1950 ORDINANCE N0, 59� AN ORDINANCE A2sIEATDINCT SLCTIONS 5 AND 9 OF ORDINANCE 594 BEING AN ORDTNANCE PROVIDSNG FQR THE ISSUANCE OF ��.I5,000.00 YACAT B�ISIN REVENITE CERTIFTCATES BY CFil�NGTNG THE DATES BY WfITCH SAID CERTIFICAT,ES ARE CAIJ�ABLE, AND PROVIDINCr THE Eb'FECTIV� DATE OP THIS ORDTNANCE. BE IT ORDAINED BY THE CTTY COA�IIVIISSION OF THE GITY OF CLPA.R4VATER, FLORTDA, AS FOLI�dW:;: SEC�IQIJ 1;e That Section 5 of Ordinance 594 is hereby amended in its ent3rety to read as follows: rr5. DESCRIPTION OF CERTIFICATES. The Certificates shsll be dated July 1, 1950, shall be in the denomination of �p1,000 each, shall be numbered from 1 to 115, inclusive, s11a11 bear int�rest at the rate of three and one-quarter per centum (3�) per annum �ayable semi-annuallq on January 1 and July '? of oach year, and shall ma�ure serially in numerical order, lowest rn:mUers first, on Julg 1 of each yeer, �5,�00 in each of the years 1952 to 1956, inclusive, and 5p10,000. in each of the �ears 1957 to 1965, inclusive. The Gertificates maturing in the yoars 1952 to 1955, inclusive, sha ll nat be redeemable prior to maturity. The Cert3ficatas matur3ng in the years 1556 to 1965, inclusive, shall be redeemable prior to maturity, at the option oi' the City on July l, 1955, or on any interest paynent date therea�tar prior to matu�ity, as a whole or 3n part, in inverso numerical order, at a redemption prico of par and accruea interest to date of red�mption, plus a premiiun of three per cent (3;�) of the par value �thereof if redeemed on or before Ju1y l, 1958; or a premium of two per cent (2;) of the par value thereof if redeemed thereafl:er b71t on or before July 1, 1960; or a prermium o� one per cen� (�N) of the par value thersof if redaemed thereafter bu� on or before July 1, 1962, and withcut pr.emium if redee�ed theraafter; g�ovided that a notice of such intended redemption sr�ll hAve been published bq the �ity at 1eas� once at least thirty days prior to thE date of re�er�ption in a financial paper pub- lished in the City of 2detR York, Ne�v York, and providad further that if less than all oY asid 9ertificate3 aubject to redemption are so called for reclersption, the notice of redemption shall state the identifying numbers of the Gertificates to be redeemed. Said Certificates shall be issued in Goupon form, sYlall be payable with reapect to both principal and interest in lawf`ul raoney of �he IInited Sta�ea of America, �t the principal office of the Cre:,,lca1 Bank & 2'rust Co�pany, New York Gity, New York, and sl�all bear interest from their date, payable in accordance with and upon surrender o£ the appuctenent in�erest coupons as they severally mature.�� SECTIOId 2. That Section 9 oP Ordinance 594 ia hereby a•lended to read as follows: '�9. FORI:T OF CERTIrICATES AND COUPOTdS. The text of the Certifi�a'tes:, cou- pons and provisions for re�istration shall be of substantially the zollowing tenor, with such omissionsr insertions and variations as may be necessary and desirable and authorized or permitted by this Ordinance, or any subsequent ordinance or resolution adopted prior t� the issuance thereof: No. IIPIITEA STATES OF A.MERICA �Z,000 STAT� OF FLORIDA CI`iY OF CI�EARtNATER COi+'R�IERCIAL AND YACHT BASIN REVEI�NE CERTIFICATE �� KNOW ALL ir1EId SY THESE PRr,SENTS that the City of Clearwater, in Pinellas County, Florida, for value received, hereby �romises to pay to the bearer, or if this Certiiicate be regi,dtered, to the repistered holder as herein provided, on the £irst ';�. day of .Tuly, l9 , frorn the revenues and special funds hereinafter mentionad, the prir.cipal sum of ONE THOIISAND DOLIARS (�1,Q00) with interest theraon at the rate ef three and one-quarter per centum (3�) pez� annum, payable semi°annually on the lst da� o#' January and the '! st da f of July of each �ear upon the presentation and surrender oP the annexed coupons as they several7iy fall due. Both principal of and inter.est on this Cer�ifioate are payable in lawfuT mone� oY the United Statss of America at the principal office o�' the Chemical Bank & Trust Comp�ny, in the City of IJew York, State of New `�ork. Thia Certificate is one of an authorizecl issue of CertiPictttea in the a�gre�ate principal amount of �p115,000 of like d�te, tenor and effect, sxcept as to number ancl date of maturity, issued to finance the cost of the construction, improvement and. equipment of counnercial and yacht basin Pacilitios in the Cit;r of Clearrvater, under the authority of and in full compliance with the Constitution and Statutes of the State oP r'lorida, the Charto� of the Cit� of Clearv�ater, boing �hapter 9710,, Special A.ets of the Legislature of Florida for the year 1923, as arriencied and supplemented, an.d other applicable sta,tutes, and an Ordinance duly adopted b� the City Cormnission o£ saicl City on Auguat ,T950, and ia subject to a11 the terma and conditions of said Ordinance. This Certificate and the coupons appertaining hereto are pa�able solely from and secur3d bq a li.9n upon and pledge oi' the net revenuea derived from the operatiori o£ the Project described in the �;mdinance authorizing this issue of Certificates in the manner provided in said Ordinanee and does not constitute an indabtedness o�' the Citg of Clearwater within the meaning of any conatitutiozaal, statutory or charter pro- visiona ar limitation, and :Lt is expresslq agreed k�y the holdora of this GertiPicate and � r`". C2TY COh��r4TSSTOPI BiF:ETING ,P.uqust 2.1, 1950 Ordinanet� ��596, Cont�d. the coupons appertqining hereto that auch holdera sk�all never have �he right to require or compol the exercise of the ad valorem taxing power o� sa3d City, �r the taxc�tion of re�I eatste in said Cit�, for the payment of the principsl of and intereat on this Cert3.ficate or the rnaking of any einking furd, reserve or other payments provided for in the Ordinsnce authorizing this iesue oY Certificatea. It: is further agreed betsreen the City of Clearvr�ter and the holder af this Certificate that this Cor�iPicate and the obligati�ri evidenced thereby shall not con- stitute a Zien upon the aforesaid. Project, �r an� p�trt thereo�, or on any othe� x�operty of or in the City of Clearwater, but ahall constitute a lien onl� on the n�L revenuos der.ived from the operation of said Project in the manner provided in ss id �Jrdinance . The Git� in said Ordinance has coverianted and ag�eed with the holders of tho Certiiicates of this issue to fix and establish and maintain such rates and collect auch faes, rentals or other charges for said Project and each and every part �hereoi' and to reviae the same from time to time whenever nacessary (subject to the provisions of any contracts with lessees or Ticenseea oi such Project, or any pari: thereo£,) as will aTways provi@e revenuea sufficient to pa�, and out of said revenuea shall pay, as the same shall become due, the principal oP ar_d interest on the Certiiicatea of this issus, in addition to paying, as the sarne shall become due, tne neoessary r�xperisea of operating and maintaining sa3d Project, all raserve or sinking funds, or other payments provided for in said Ordinance, and all other obligations pa�able out of the revenues of sa3d Project and that such rnteg, feea�, rentaxs or other charges shall not be reduced so as to b� insufficient to provide revenues for such purposes, and said City has entered into certain further covenant� wi�h the holders of the Certificates of this issue Por tha texms of which reference is made to said Ordinance. The Certificates maturing in the years 1952:to 1955, inclusive, are not rodeemable prior bo maturitq. 'I'he Certificates maturing in the yaars 1956 to 1965, inclusive, ara redeemable prior �o maturity, at the og�ion o£ the City on Jul� ],, 1955, or on a n� interest payment date thereaPter prior to maturitv, as a whole or in �art, in inverse numerical orcler, at a redemption price of par and acorued in- terest to date oi` rede�zption, plus a premium of three per cent (3�) of the pa�� value thereof if redeemed on or befure July 1, 1958; or a premium of two per cen� (2f) of the par value thereof if redeemod thereafter but on or before July l, 196Q; or a premium of one per oent (1�) of the par value thereoP if xedeem�d therearter }�u� on or before �uly 1, 1962,; and without premium if redeemed thereafter; provided that a notice oz such redemption shall have been published at least once at least thirty �ays prior to the date of reaemptian in a financial paper published in Na�c York City, New Yorl�.. It is hereby certified and recited thst all acts, conditions and thing� required to exist, to happen and to be �erformed precedent to and in the issuance of this Certificate, exist, have happened and have bean performed in regular and due Sorm and time as required by the atatutes and Constitution of the Stata of Florida appl3.cabla thereto, and that the issuance of this Certificate, and oP the isaue of Certiiicates o� which this Certificate is one, does nat violate any consbi- tuticnal, statut�ry or charter li�-iitation. �� Thia Certif.icate, and the coupons appertaining theretio, is, and has all the qualiti�s and incidante of, a negotiable instrument under the law merchant and the Negotiable Instruments iaw of the State of Florida, Rnd the original holder and each successive holder of this Certificata, or of the coupons appertaining thereto, shall be oonclusively deemed by his acceptance thereoP to have agreed that thig Certificate and the coupons appertaining thereto shall be and have all the qual_ties an@ incidents of negotiable instx�arments under the lawv merchant and the Negotiable Instr.uments Iaw of tlie State o�` Florida. The ori�inal holder and eac� su�cessive holder of this Certificate, and oP the coupons appertaining hereto, shall be con- clusively deemed to have agreed and consented to the following terms and conditians: (a) Title to this Certificate, unless registered as here3n provi��d, ancN to the annexed 3ntexest coupons, may be trarsferred by delivery in the maz�nex� pro- vided for negotiabla instrumersts pagable to bearer in the lavr merchant and the Negotiable Instruments I,aw of tY:e State of Florida; (b) Any person in poasassion of this Certificate, unless re�istered as herein prov3ded, or of the intsrest coupons hereunto appertain3ng,. regardless of the manner in which he shall have acquired possession, is hereby authorized to represent himself as the absolute ov�ner hereol', and is hereby granted power to transfer absolute ti�tle herato by delivexy hereof to a bona fide purchaser, that is, to any one vrho shall purchase the same for value (present or antecedentj with- out notice of prior defenses or equities or claims of ownership enforceabls s�ainst his transferror•, every prior taker or ownei o� this Certiiicate, unless regiatered as here3n prov3ded, and o£ the annexed interest coupons, waives and renounces a11 of his equities and rights here3n in favor of every suah bona fide p�;rchase, ar,d every such bona f3.de purchaser shall acquire absolute title hereto and to all ri.ghts represente� hereby; and (c) The Citf of Glearwater may treat the bearor of this CertiYicata, unleg� re�is:tered as herein provided, or of the interest coupons hereunto appertaining, as the absolute owner hereof for all purposes without being affected by any notice to the cantrary. This Cart3ficate may be re�istered as to principal only in accordance with the provisions endorsed hereon, IN WITNESS WH�R�OF said Citg of Clearwater, Florid�y has issued this Certi- Picate and has caused the s�ma to be signed by its City Auditor and Clerk and its C3ty Msnagar, countersigned by its Mayor-Couunissionar a�d 3ts cox^porate seal' to be ai'fixed hereto and has caueod the interest coupons hereto attached �o be executecT with czm� con��issroi� nt�Trt�G August 21, 1954� Ordinance �596, Oont�d. the fac simile signatures Uf all of said officers, all as of tha f irz�t day of July, 195Qe CITY OF CLFARWAT�R, FL(3RTDA BY City Auditor and Clerk (SEAL) (FORR'I OF COUPON) BY City ansger Countersignad: Mayor- oxmnissioner No . r� On the day of ,19 ,(unless the Certificate to which this coupon is attached sh�ll hsve been duly called for redeniption and provision �or �he paymenfi of the redemption price duly made) the C3ty of Claarwater, Florida, will pay to the bearer at the princ3pal office of the Chemical Banl� & Trust Company,, in the C3t,y of Ne�m;York, Stata of New Yor.k, £rom the revenuea and special i�Znds described in the Certificate to which th3s coupon is attached, the sua+i oP Sixteen and 25�100 Dollars (�I6.25), in lawful moneg of tkie United States of America upon presentation and surrender of this coupon, being six months interest then due on its �omraerciaT �nd Yacht Ba�in Revenue Certificate, dated July 1, 1950,, No� o GITY OF CLEARWATEFt, FLORIDA BY City Auditor and Clerk B�' City �Ianager Countarsigneds Mayor-Comnissioner (FORh4 OF VALIDATION CERIIFT_CATE) V � / Validated and confirnxad by decree ot the Circuit Qourt of the Sixth Judicial Circuit oi Florida, in �nd for Pinellas County, rendered on the day of ,li9SQ. er�t at t e ircu our of Pinellas County, Florida (PROVISION FOR REGISTRATION) This Certificate may be registered as� to principal only in the name of the holder on the books to be kept by the City Auditor and Clerk as Registrar, or such other Registrar as nay hereafter be du7�y a ppointed, suc11 registration being noted hereon by such Registrar in the re�istration blank below, ai'ter which no •bransfer sha11 be valid unless made on said books by the registered holder or attorney duly rzuthoriz.ed and aimilarl� noted in the regiatration blank below, but it may be discharged from registx�ation by being transferred to bearer, after which it shall be transferable bg delivery, but it may be again registered as before. The regiatration of this Carti- ficate as to principal shall not restrain the ne�otiability of the coupons by delivery merely. DAT� OF REGISTRATION �N WHOSE 2dA7+TE REGIST�iED SIGNATURE OF REGISTRAR SECTION 3. All ordinances or parts of ordinances in conflict herewith are hereby repealed. SECTION 40 �'his ordinance shall be effective inmiediately upo� its passaga. PASSED A2JD ADQPTED BY TIiE CITY COIr��IISSION of the City of ClearvJater, Florida. PASSED on first reading August 21, 19500 PASSED on second readin� August 21, 195Q�. PASS�,D AI1D ADOPTEI� on third and Pinal readin�, August 21, 1950, Iiarr,y ll. Sar�eant Mayor-Cor�nisaioner Attestt H. Ge Win o it� Audit;or & Cle� k Approved as to .form and correctnessz Ben Krentzman y Attorne9 G /• '��5� P cz� cor�,1TSSI0N hiEETII,rG Aul�u�t 21, 195(1 OFtI7II�lNCE PTO. 597 AN QI?I):[1�iANCE A2dEP1DING SECTIONS 5 1��,ND 7 OF ORDIIdAIJCE 595, AN ORDIIdANCE RELATING T0 TiiE ISSUAIICE OF �T25, 000.00 IulUNICItAL UTILITY REVL'IdDE CERTIFTCATES TiY ATs1ENDING THE DA�'ES BY YJHICH SATD CERTIPICATE� A�R� CE�,LJ.,ALL� AND �ROVIDII�JG b�pR THE Eb'I'ECTIVE DAT� HEREOF. BE IT ORDATNED BY THE CITY COTdA4ISSI011 OF TF.� CITY QF GLEARWATER� FL(?RII7A, AS FOT,LOGJS': SECTION ]�. That Sectio2z 5 of Orrlinance 595 is hereby amended to reafl as follows: �� t°5. That for the purpose o£ constructing extenaions, 3:mprovements and betterments ta sa3d municipal utility properties there be and there are hereby ordered issued the ne�otiable Riunicipal Utility Revenue Certificates, aeries of 1950, oP said Citg in the total principal amount of One Hundred 7.'wenty-Five Thou- sand Dollar� (y�125,000j, Said certificates shall be in the c�enomination of �1,000 Qach, shall be nwnbered l to 125, inclusive, �t�1T be dated Ju,ne 1, 1950, and �l'� bear 3nterest at the rat� of three per centur� (3�) per annuin �yable semi-annualZy on the firat days of June and Ueaember o�' each �ear, and said certificates shall becozne due in their munerical order on December 1 oP each �ear, �5,OQ0 in each o�' the yPass T952 to 1956, inclusive, ��.0,000 in aach of the yea�s 1957 •to T963s in- clusive, and $�1�5,000 in each o= the years 1964 and 1965, provided, thet s�id carti- ficates niunk�ered 21 to 125, inclusive, sha11 be optional �or red��aption by said City prior to �aturity in whole, or in part in •the inverse orclsr of thair maturi�� (less than a1Z of a eingle maturity tp be selected by lot) on December, 1855s or on an;� �.nterest pa��ent date therea£ter, and in the event o� the exercise of such ri�ht oi' reclempt3on of any of said certificates as sforesaid �aid Ci,ty agraes to pay to the holder thereof upon redemption of such ce�tiiicatgs interest in ��_;.-ion to that evidenced by interest coupona the� accrued, in an aniount equal to .z�EY. per cent (3%) of tre principal amount therenf if callad for redemption on w�rior to December I,1958; two per cent (2.0) of the �rincipal amoun� thereof if cailed for redemption thereaftor r�nd on cr prior to Decarnber 1, 1962; ona per cent (l;�j of the principal amovnt thereof if callad £or 'redamption thereafter and on or prior to December 1, 1963; and without payraent of addit:tona7� in�erest ii' called for reciemption thereaftor, and said Citq �grees �hat notice of any such redemption identifying the certificates ta be redeemed will be publishad at leas{: once not leas than �hirty days prior to the redsmption date in a newspaper or financial journal of general circula- tion published in zne City of Nevu Yorks New York, and any such certificates thus called for reclemntion and as to vahich funds ior the xetiremenz ther•eof are de�osibed at tha desi�nated place of payment en or before such r9demption date wi11. cease to thereafter bear interes�. Said certif'icates shall be payable as to both principal and lnterest in lawi'�il r�pney of the IInited States oi' AmArica at the rincipal office of Chemical Bank 8c Trust Company, in the City of New York, �ievr 1'or�.� SECTION 2. That Section 7 of Ordinar.ce 595 is hereby amended to read as followsc ��7. That said certix'icates and the provisions to appear on the back thereof shall be in substantially the followin� form; U�,ITED STATES OF AAiERICA STATE OF FLORIUA� COUNTY OF PIId�I,LAS CITY OF CZLARVJA`�ER ItiiUN.LCIPAI� UTILITY REVENUE CERTIFICATE SERIE�S OF 1950 Noe �1,000 THE CITY OF CLEAR�NATER, in the County of Pinellas and State of Florida, for value received, hereby promises to paq solely from the special fund provided there- for, as hareinafter set forth, to the bearer ar, if this certificate be registered as to principal, to the registered owner hereof, on the f3rst day of December, Z9 , the principal stun of One Thousand Dallars (�1,000) and to g�y from said speoial �und in�erest therenn from the date hereof at the cou�on rste of three par cent (3°oj per annur,t semi-�annually on the f irst day of Ji,ne and Decersber of each year until' pa3d, exeept as the provisions heseinafter set forth with respect to redemption mRy bo and become applicable hereto, such interest as aforasaid as may accrue on and prior to the maturitg date hereof to be paid only upon the presentation and �urrendex� of the annexed interest coupons as tl�ey severally become due. Both principal o�' and interest on this certificate a re payable in lawful money of the United States of America at the pri�cipal office of Chemical Bank & Trust Company, in the City of New York, New Yo.rl�, This certificate is one of an issue numbere8 consecutively from 1 to 125, inclusive, issued by said City pursuant to and in f'u11 compliance with the provisions of the Constitution and laws of tkie State o#' Florida, including the charte.r lavu of said Cit,y, and pursuant to an ordinance duly adopted bq the City Cormnission of said City. The issua of certif3cates of which this certifica�e is one has been authorized and issued ior the purpose of paying and financing the cost of improvemeni:s, better- ments and extensions to the munici�al utility properties of said City, supplying water, �as and sewa�� serv3cea. Tt is provided in said ordinenca that ths Cor�mission of said City shall fix and msinta3n rates and coJ.lect char�es for the facilities and services affordecl bg said utility properties sui�icient to provide revenues adequa�e at all t3.mes to pay the cost of operAting, mai:�Laining and repairin� sama, and to pa,y into a speci�l fund created by sai� ordinance amounts fiilly sufficier�t, after allowance fos� such costs of opera•tion, mai:�tenanee and r,epa3r3, to prov3de £or the ,�� CITY CO�ZISSTON ntEETING August 21, 1950: Ordinarace ,#597, Conttd. N �� prox.npt payment of th� interest on a�nd principal of said issus of certi£icates apd. all atrier certificates issuad on a parity therewith under the restrictions•and pro- visions of said ordinance;� including an authorized issue of �525,000 Ntunicipa]l IItil.3ty l�avenue Certificates da�te¢� Decembar 1, I947, of which �;473x00G are out- standing as of the date kiereo�; provided, sa3d City has outstanding certain Water F{evenue Certificates, Gas Revenue Certifica�as and Gas Plant and Sewer System Refund- ing Revenue Certificates, vrhich by their terms are payable from and socured by a� first charge on and pledge of respeatively �he revenuea der3ved from the operation of the svater vrorks utility propert3es, aewer system and the gsa plant and system of seid City remaining after �yment of costs oi operation, maintenance a nd repa3rs of those respective portions of said municipal utility pioperties, ar.d payments into said apecial �nd as aforesaid are subject to the vested ri�hts of the holders of suc21 of said 4Yatsr Revenue Certif:;,�cate�,, Gas• Revenue Certificates end Gas Plant and S'ewer System Reiiinding Revenue Gertiiicates as may be outstsnding from ti�rie to tinie. This certificate, including interest hereon, is payable solely from said special fund and do�s not constitute an indeb�edness of sa3d Citg within the meaning of any constitutional, statutory or charter limitation. The City of Clearwater is under no obliga�ions to pay this certificate or interest thereon except from the revenuas of the municipal utility properties as afnresaido Certificates of the issue of which this certificate is one, numbered 21 to 125, inclusive, are optional for redempt3on by said City prior to maturity in whole, or in part in the inverse order of their n�aturity (less than a11 of a single maturi�t� to be selectsd by Tot), on December T, 1955, or on any interest paymenic da�Le there- aPter, and in the event o� the exerc3se of such ri�i�.t of redemption of ang of said certificates as aforesaid said City agress tn pay to the holder thereof upon redemp- tion of such certi.ficates interest in addition to that evidenced by interest cou- pons then accrued, 3n an amount equal to three per cent of the principaZ amount thareof if called for redempt3on on or prior to December l,. 195&; two �er cent of the principal amount thassoi if called for redemption thereafter and on or prior to December T, 1961; one per cent of the principal amount thareof if called for redemption thereaft�r and on or prior to Decer,iber 1, 1963; and v�ithout payment of additior_al interest if called for redemption thereafter, and said Ci�y agrees that notice oi' any such redemption identifying the certificates to be redeemed, will be published. at least once not less tlian thirty days prior to the redemption date in a news�paper or financial journal of general circulation published in the City of New York, New '�'ork, and any such certificate3 thus called for redemption and as to wh3.ch fiznds for the retirement thereof are deposited at the designated place of pay�ent on or before such redemption date will cease to thereafter bear interes�. This certificAte with interest coupons hereun�o appertaining is> issued uporz the following terma and conditions to all. of which each taker and owner hereof and of the interest coupons consents and agreess (a) Title to this certificate, unless registered �s hereirz pra�rided and to the annexed interest coupons may be transferred by deliv'ary in the same manner as a negotiable instrument payable to bearer; (b) An� �erson in �assession of this certiiicate, unleas registered as herein provided, or of the intersst coupons hereun�o appertaining, regardless of` the manner in r�hich p�ssession shall have been acquired, is hereby authorized to represent himsolf as the abaolute owner ther�oP and is hereby granted power to transfer ab- solute title thereto by delivery thereof to a bona fide purchaser, that is, to anyone who shall pure•hase the same for value (present or antscedent) without notice of priar dePenses or equities or cl�aims of ownership enforceable sgainat his trsnsferror; every prior taker or owner of this certificai�ea unless re�istered as herein providad and of the annexed intarest coupons, waives and. rsnounces all of his equities or rights therein in favor of every such subsequent bona Pide gurchaser, and evory such bona fide purchaser shall acquire absoZute title thereto and to all rights represented thereby; and (cj The City of Clearwater may treat tha baarer of tt�.is cort�iiicate, u�le�a regi4tered as herein provided, or of the interest coupons hereunto appertaining, as the absolute owner thereof for all purposes witr�out being affected by any noicice to tha contrary. All acts, conditions and things required by the Constitution ar.d l�ws of Flarida, and the c�aarter of said City to happen, exist and be performed precedent to and 1.n the issuance of this certificate, hsve happened, exis�t and hava been performed as so required. This certificate is registerable as to principal alone in accordance with the provisions endorsed hereon. IN WITNESS WHER�OF s�id Cit,p of Clearwatex Z�as caused thi� eertificate to be executed on its behalf by ita �ity Auditor and Clerk and ita City Ivfiana�er, counter- signed by ita PrIagor-Counnissioner, under its corporate seal, and the interest coupons hereto attaehed to be execu�ed vuith the fac�inile si�natures o:f' said o£ficera, a11 as o£ the first day oi J'une, 1950m G Countexsigned: PrIayor-Co�nissioner N0. �. � / H G ;/ CITY COD'iMZSSION R�SEETIIJG Au�uat 21, 1950 Ordinance �597, Con��d. (FORI�i OF COUPON) CITY OF CLEAEiV9ATER, FLORIDA BY City Auditoa•and Clerk BY City IrIanager� � On the firat da� of ,195 , t2�e City of Clearssater, Florida will pap to bearer at Chemical Bank & Trust Company, in the City o£ New York, Nerr York, the sum of Fifteen Dollars C.�15.00) solely frott the special fiznd referred to in and for �he ser.zi�annual inter9st then due upon its Municipal IItility Revenue Gertificate, Serie� oP 1950, dated June 1, 1950, I3u.mbered P+Iayor-Commissioner City Auditor and Cler� City i�Ianager �FORI�3 OF VALIDATION CERTIFICATE} VaTidatsd and corifirmed by a dacree of the Circuit Court of the S�xth Judicial Circuit, in and ior Pinellas County, Florida, rendered on the day of , 1950. Glerk of sa id ircuit Court {CERTIFICATE �F REGTSTRATION) ^lhis certif icate may be registered as to principal on the booka of the Citp Audit�r and C1erk of the City of Clearwater and notation of such segistration mede hel:eona and tn.is certificate may thereafter be transf'erred on said books b� a written assignrnent by the registered ovrner or his attorney, duly acknowledged, or proved, and notation of such transfer endorsed hereon. Such transfer ma be to bvarer a nd thereby transferability by deliver5 shall be restore3, subjec�, however, to successive registration and txansf'er �s before. Tho principal of this car�i- ficate, if regis�tered, unless registered to bearer, aha�l be payable only to the �e�isterad owner, or his legal' represent�tive, but the coupon� appar�taining hereto v¢ill rema in paqat�le to bearer, notwithstanding regietration of this c�rtificata. Name of Re�istsred Holder Date of Registration A Signature of City Auditor & Cle�k a'ECTION 3. A111 ordinances or parts of ordinancas in conflict herewith are hereby repealed. �� CI TY C OA'ltvt ISS ION htEETZNG August 21,. 1950 ordinanae �597, Cont�d. SECTION 4. This orain�nce shall be effect3v� iimnodiatelg upon passage. PA55ED AND ADOPTED BY TF3E CITY COAIPr4I55TON of th9 C3.$y o� Cle&Z�w&t�l^� F1.arida . PASS�D on first readin�, August 21, 1950. PASSED on second reading, August 21, 1950e PASSED AND ADQPTED on thir� and final readin�, Au�;ust 21, 1950. Harr.y D. Sar�eant rlayor-Co�nissioner Attests He G. 'Ningo C3.ty Auditor & Clerk Approved es to form and correctness: Ben Brentzmsn City Attorney CITY CaPJlPdIS�T0P1 TdE�TING ,A.ugu�t 2]:, 1950. OItDINA�I�CE N0. 598 A;S ORDINANCE OF THE CITY OF CIlEARWATER, FI,ORIDA DLFZNING CO1Vi'IVIUNISbI; EXPRESSIZtG ,A CLEAP. ANl� PRES�NT DANGER TfI�RE-� FRnM; REQUIRING MEMBERS OF THE COP+�� UNIST PARTY AS I��PIiJID HER�IN TO REGISTER Tid TfIE 0�� ICE OF THE CHIEF OF POL2CE Ob' SAID CTTY AND THEREA,FTER TO COIvIPLi' V1ITH THIS ORI�INANC� AND FTXING THE PENALTY FOR VIOI,ATIQN OF THIS OHI7INANCEti NIii�REAS the Goverrnnent of tho City of Clear�rrater, Florida is eatab-- 13s71ed under the authority of the State of Florida; and NfI3ER�A5 tha State of Floriaa is itself const�,tuted on the fun- damental baais that justice be established, public order be mai.nta3ned and liberty perpetuated; and ti�IIiEREAS the pos3tical ideology vfhich includea in ita tenets the en- forced rula by one polit3.ca1 party of statE socialism with its attendant practicas of aupremrzey of the state, supprassion of individual rioY;te and aupport of athe3gm is known and ia herein defined as Commur�iam, and is: opposed, hostile and repugnant to, and destru.ctiva of, our exprasaed baaic fol;ndations; and 4YHEREAS the objectives of the Communist Part�r in the United Stiate� and of its ofticers and members are to advance and proraote the ubjecti�es of the aforasaid political ideology and to defeat contrary objectives of the Un3ted States of America, by means of force, violence, �reacher�,, de- ce3t, e�;picnage, sabotage, terrorism,, ereation of £ear, destruction of morale and tkie eventua.l overLhro� of tlze Un3ted States� Goverz�ruent by force, and NTHLREAS groups or individuals, either orgar�izecl or unorgapizedr. which support tb.e same politieal. ideology as �hat advanced by the Communist�„ tivith- out actually identifying themselves as such, by advocat3ng non-compl3anc� rvith tha nat3onal defense effort of this country and similar actions which enlarge the existir.g emergency, aotually aid and sbet the Communists,, and should be and are so classif3ed an� considered in this ordinance. WI�REAS Carmnunism as herein define� consti�tes a clear and presen� danger to our Democraay; and to the peace, saiety and general vrel.fare of the citizens of the City of Clear�vater, and VVHEREAS the City of C?earsuater, Florida is eharbeable �^ritli the rea sponsibility of preserving the�individual ri.ghts guaranteed b;* the Consti- tution oi' the State oY Florida, the Constitution of the Un3ted Sta-tes of Amarica and our Declarat3on of Independence, now thereiore� BE IT ORDkINED BY THE CITY COnil,iISSIO%i OF THE CiTY OF CLEARWATER, F�ORIDA AS FQI,LfbPdS: SECTION ]l.. Hereafter it ehall be unlawful for �n�* person, �roug of persons or eorporation, either ainglg or collectivel�, ta promote, advocate�, support,, encourage� advertise, disseminate ar otherrvise advance either by word,s, signs, gestures, wri�ingsJ pictures: or other zorm ox conm�.unica:tion the political ideolo�y knovrzi as Counnunism as lzerein definad tivithin the Tiviits of sai�. �ity. SECTION 2. Zt sha11 be prima facie evider_ce t�.at a person is a mem- ber of such Co�mnunist Partp i�` ho shall engage in the circulation or distri-- bution of any printed or written mattsr issued or purporting ta ha=re been i�sued by or over the nasue of such Conununist Party or any branch thereof,, or if lie shall en�a�a in tlze circulation or distritiution of any printed or written matter issued �r purporting to have Ueen issued by or over the nam� of any organ3zation �rrhose policy is controlled by an� person or persons�es- tablislled to be or to have been a member or officer of suc� Co�rnnunist Part�r by proof' other thsn the prima facie evidence referred to in this sections. or if he shalJ. be found 3.n any secret or nonpublic place in voluntary asso- c3rztior� or coimnuniGation vrith any person or peraona established to be or ta� have been a member of such Corrununist Partg by proo� ar other than the prima faaie evide�ce refarred to 3n this section. SECTION 3. Every member of the Communist Partg, Conunun3st or supporter of the Corrmiunzst polit3caZ ideology lierein dafined, who comas into the City of Clearrvater, E'lorida from an5' point outside of such Citf, whethe�• in transi� throu�h said Citg or otherwise, s1za11 report to the Chief of Police of the City of Cleartvater, Florida within torty-eight (48) hour� al�ce� his or her arrival �^rit�in the bounrlaries of said cit�, and sl�all furnish to the Chief of Police 3n a written s�atement, si�ned by such person, the true name of such person, and oacli other name or a7l3as by which such person is or has been known, a full. and completa description of himself or herself, the placo or places where 11e or she has been within the precoding �aix�ety (90; dayap together with the location or address of his or her residance, stopp3ng _�� CITY COMMsSSION M�ETTNG Au�ust 2i, 1950 Ordinance iVo. �9`3, Cont'c�. place qr living quarters in said City o� C1e�r�rater and each one therec�f, wit11 a desc�iption of the Character of each stzch place, whether � hot,el., apartmer�t house, dwell�;ng hause or otherw3.se, �iv3n� the straet numb�r thereof, i1' any, or any description o�' the addrsss or 1oc�,tion thereof as wi1J. so identify bhc same as to make it possible for locatier�, and th� len�th of tirae for whieh he or she expects oi intends to reside With3n the territor3,aZ boundarles a� the City of Clearwater, Florida, At the time of furnishing sunki information said person sha11 be �hotographed and f3.r_aerpx�inted by said Ch1ef of Po1�.ce, and sa'?d photograph and fingerpx�ints shall b� made a part of the p�zmanent x�eaords of the Police Department of ti�e City of Clea��wa��r, Florida SEGTZON 4. Every �erson residing within the City oi' C�.e�rwater, F7.orida, at the time this orda.�ance becomes effective, who is a memk,er o�' �Lhe C'ommunist Par1;y, is a Communisi:, or Who is a supporter of the Communist ide�logy, as de�ined herein, shall �vithin forty-eight (48) hours from �nd after the etf'ec- tive date hereof, furniski to the said Chief of Police, in a writ�en statemenb signed by such person, aI1 of fhe information required �o be furnished under th� provisions of said Section 3, and tagether with the occupa�ion or employ- ment in tahzch the said persons 3s now engaged, the name of the employer, the business engaged in '�y said employer, and the nature and character bhereof. SECTION 5. Every person coming under the provisions oi Secti.on 3 and 4 hereof shall after the registration as provided therein thereafter during fh�ir residence in said �i�y make weekly, personal appearances at the City Police Headquarters at such reasonable times as may be px�escribed by the Ch3ef of Poli,^,e for the purpose of keeping said registration record current.. SECTION 6. Prior to leaving tYie Gity limits o£ said City ior any pur- pose, every such �erson herein specified as required to register shall record with the Chie� of Police of said City his or her date o�' departure, destination, and approximate date of return. SECTION 7. In the event ihat any person herein specified as required to register, shall change his or her place of residence, stopping place or living quarters to any net�r or different place or places within the said City of Clea�water, Florida, other L-han the place last reported to the Chief of R�7.ice in such report herein provi@ed for, such person shall, within tv�renty- iour �24) hours �fter rer;io�ing himself or herself from �he plac� of abode first given, notify said Chief of Police, in a writ-�en and signecl statement of such change of address, and.sha].1. t'urnish in such written statement to said Chief of Police his or her new address, and each one thereof. SEC'LION 8. It sha1J. be unlaw:£ul for any person 1 equi.red by any pro- vision of this ordinancA to furnish any such �nformation or report to ,fail, �eglect or refuse to make such report, or to furnish any sach in#'ormation, photograph or fingerprints, or to iail, neglect or reiuse to render or furnish the same Within the time prescribed zn thia ordinance, or to fail, neglect or refuse to furniah to said Chief of Polic� within such tzme, any iniormation, Fhotographer fingergr3nts required ta be iurnished by aiZy provision of this ordinance, or to furnish any false, untrue or misleadin� informatiora or state- ment relating to any information required by an3T provision of this ordir_ance to be made or furnish�d. SECTION 9. If any section, sub-saction, paragraph, sub-paragraph, clause, word or phrase of this ordinance be declared by any court of competent jurisd�ction �o be unconstitu�ionala i� shall in no way af.fect the validity of the remaining portrons of this ordinance. SECTION 10, Any person guilty of violation of any provision of this ordinance shall be punished by imprisonmentfor not more than sixty (60) days, SECTION 11, This ordinance is hereby declared to be an emergency ardinar�ce, which sha11 take effect upon its passage as provicled by 1aw. PASSED ON FIRST reading, August 21st, 1g5o. PASSED ON SECOND reading, August 21,st, lg5o. PASSED AND ADOPTED on third and final xeading, Augu:�t 21, 1950. Harry D. Sargeant Mayor-Comm�.ssioner -- Attest: H. G. Wingo City A�zditor an C erk � ��