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RESOLUTION NO. 8336
' 3h ZS 'Srr ry .g.
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fin, ;?1 ,1f'. ??,'?'?.?o, `e i•`6 ,'?.
IY1iwEww.;:• ...?tJ .tl?..YJ: }:4?11..i.1 L.?)4.
A RESOLUTION FURTHER SUPPLEMENTING ORDINANCE
NO. 2556-81, AS SUPPLEMENTED BY RESOLUTION Nn.
81105, SAID ORDINANCE HAVING BEEN ENTITLED:
"AN ORDINANCE PROVIDING FOR THE ACQUISITION,
CONSTRUCTION AND EQUIPPING BY THE CITY OF
CLEARWATER OF A PROJECT FOR A NURSING HOME;
PROVIDING FOR THE SALE OF SUCH PROJECT TO
BETHAMY GARDENS, LTD.; PROVIDING FOR THE
ISSUANCE BY THE CITY OF CLEARWATER OF UP TO
$4,000,000 PRINCIPAL AMOUNT OF ITS FIRST
MORTGAGE NURSING HOME REVENUE BONDS TO PAY ALL
OR A PORTION OF THE COST OF SUCH PROJECT;
PROVIDING FOR THE RIGHTS OF THE HOLDERS OF
SUCH BONDS; PROVIDING FOR THE PAYMENT THEREOF;
PROVIDING FOR A NEGOTIATED SALE OF SUCH BONDS;
MAKING CERTAIN OTHER COVENANTS AND AGREEMENTS
IN CONNECTION WITH THE ISSUANCE OF SUCH BONDS;
PROVIDING FOR PROPER NOTICE OF PROPOSED ENACT-
MENT AND PROVIDING FOR AN EFFECTIVE DATE;"
APPROVING THE FORM OF AND AUTHORIZING A BOND
PURCHASE AGREEMENT FOR THE NEGOTIATED SALE OF
SUCH BONDS; AWARDING SUCH BONDS TO THE PUR-
CHASER THEREOF; APPROVING THE DISTRIBUTION OF
A PRELIMINARY OFFICIAL STATEMENT AND AUTHOR-
IZING AN OFFICIAL STATEMENT RELATING TO SUCH
BONDS:
WHEREAS, the City of Clearwater, Florida (the "Issuer"),
by Ordinance No. 2556-81, adopted by the Issuer's City Commission
on November 19, 1981 (the "Ordinance"), authorized the issuance
of up to $4,000,000 principal amount of the Issuer's revenue
bonds designated the "City of Clearwater First Mortgage Nursing
Home Revenue Bonds (Bethamy Gardens, Ltd. Project), Series 1982"
(the "Bonds"), for the purposes stated in the Ordinance, and pro-
vided for certain other matters related thereto; and
WHEREAS, the Ordinance was adopted by the Issuer's City
Commission, the governing body of the Issuer and a body elected
pursuant to the Issuer's City Charter and other applicable provi-
sions of law, after a public hearing for which reasonable public
notice was duly given and at which members of the public were
afforded reasonable opportunity to hear and make comments with
respect to the Bonds and the nature and location of the Project
described in the Ordinance (the "Project"); and
WHEREAS, in Section 3M of the Ordinance the Issuer
found and determined that a negotiated sale of the Bonds is
required and is necessary, and is in the best interest of the
Issuer, for the reasons stated therein, and by Section 9 of the
Ordinance the Issuer authorized and agreed to a negotiated sale
of the Bonds pursuant to a bond purchase agreement to be approved
by resolution of the Issuer; and
WHEREAS, the Issuer, by Resolution No. 81-105, adopted
by the Issuer's City Commission an December 17, 1981 ("Resolu-
tion No. 81105"), approved and authorized a form of bond
purchase agreement providing for a negotiated sale of the Bonds
by the Issuer to the underwriter named therein, awarded the Bonds
to said underwriter, approved, ratified and confirmed the distri-
bution of the preliminary official statement referred to therein
and authorized the distribution of a final Official Statement,
and approved and designated a trustee under the Indenture of
Trust, Mortgage and Security Agreement for the Bonds; and
Res 83-36
it . ,?? rer ?, fir: ih:i °•?<,'f,':'ia`Il?'i;': .'a: :?:' .
4/7/83.
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*;,4°,3`.'. axii?'.. ,y; err t.`3'?'i-:•'" '4' Mil .?;, nG:'?^, ?ai'•"?.j ?'x$1; s'{{....
'?.:' S•?T' •'p€•J. !.. a .ay <..5 :•' _ '. C' 1r ?;, js ??;t,T? Y,S' .:
;' ia?A._1 .. J. •,rMlr. ,. ?.^ e` •ai. .?uG.".:.f 'fY•• i.?,. 'i ?C "c..
4-.,.?;(:. ;i:i"?!1?r.". ?i•..r. , s,.?f:q? .r? 'F`.?€?`.vt`r.. \' r',4.((''??:1?,.:4d')
? X' .aa?rSY. .?r.,l' *`5?. .????.?i'-? ?'; L•:•$. _ "'?,.C•u,.5.• .a<
t '?? {'t' ,y'• r.; t .1 i??r u1 ?'.
,> f?o(p '?-}. 4 .rn .Fr '. .' '•5 ?:ty ,r..? , '?: ;'`?? +.y?%..
'[?i°-. a,Il?a?? ? ••'. `,•' '• '., t.,,,.< .' ,• ,"'. . .,' ' ?,•T ••, ?' .'.,^ .". • ?? s • f Lv,'..i •`'' S :
1 a,'s.`i'=.'?P ?..•.•..?.. -. .. ,_"....•........-xe+u....r.c.a««a,....u.u'-ysY--?rat?x.w•.tia34f?'13tir:+l,,.,'??,?+wtaM.f.:,:.,'?u.•,.i•:e.w:..?...:.:._ •1.
WHEREAS# the Bonds have not yet been issued due to
delays caused by certain administrative proceedings relating to
the Company's certificate of need for the Project; and
l WHEREAS, the Company has requested that the Bonds be
A redesignated the "Series 1983 Bonds," has submitted a revised
;•t,_'?,:.r',',? form of bond
purchase agreement (the "Hoed Purchase Agreement"}
providing for a negotiated sale of the Bonds by the Issuer to
American Municipal Securities, Inc., as underwriter (the
"purchaser"), to be executed by the Purchaser, the Issuer and the
Company, and has requested that the Issuer approve and authorize
the execution and delivery of the Bond Purchase Agreement and
that the Issuer award the Bonds to the Purchaser; and
WHEREAS, the underwriter named in Resolution No. 81-105
has provided to the Issuer a letter releasing the Issuer and the
Company from any and all obligations to said underwriter under
the bond purchase agreement referred to in Resolution No. 81-105
and consenting to the award of the Bonds to the Purchaser; and
WHEREAS, the Purchaser has provided to the Issuer a
disclosure statement pursuant to Section 218 .385 (4) , Florida
Statutes, as amended; and
WHEREAS, the Company has submitted a copy of a Prelimi-
nary Official Statement (the "Preliminary Official Statement"),
relating to the Series 1983 Bonds to be underwritten by the
'., Purchaser, and the Company has requested that the Issuer approve
the form and distribution of the Preliminary Official. Statement
>>; and authorize an Official Statement relating to the Series 1983
;:at Bonds;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF
?'. THE CITY OF CLEARWATER, FLORIDA, IN SESSION DULY AND REGULARLY
ASSEMBLED, AS FOLLOWS:
th F
f" SECTION 1. AUTHORITY FOR THIS RESOLUTION. This
Resolution is adopted pursuant to provisions of Chapter 159, Part
?•. II, Florida Statutes, as amended, Ordinance No. 2556-81 of the
5
,.. ,, Issuer, and other
applicable
provisions of law.
SECTION 2. FINDINGS. It is hereby ascertained, deter-
mined and declared that the Limited Guaranty Agreement to be made
by Salu Devnani, Ronald D. Carver and James H. Lewis, as
Guarantors, substantially in the form submitted by the Company to
the Issuer, is satisfactory and that the findings set forth in
Section 3 of Ordinance No. 2556-81 continue to be the findings.of
the Issuer.
SECTION 3. APPROVAL AND AUTHORIZATION OF BOND PURCHASE
AGREEMENT. The Bond Purchase Agreement proposed to be made among
the Purchaser, the Issuer and the Company, substantially in the
form submitted to the Issuer by the Company with such changes,
corrections, insertions and deletions as may be approved by the
Mayor-Commissioner and City Manager of the Issuer, such approval
to be evidenced conclusively by their execution thereof, is hereby
approved and authorized; the Issuer hereby authorizes and directs
the Mayor-Commissioner and the City Manager of the Issuer to exe-
cute and the City Cleric of the Issuer to attest, and the City
Attorney.to approve as to form, sufficiency and correctness, the
Bond Purchase Agreement, and to deliver the Bond Purchase Agreement
to the Purchaser and the Company; and all the provisions of the Bond
Purchase Agreement, when executed and delivered by the Issuer as
authorized herein and by the Purchaser and the Company, shall be
deemed to be a part of this.Resolution as fully and to the same
extent as if incorporated verbatim herein.
SECTION 4. AWARD OF SERIES 1983 BONDS TO PURCHASER. The
Series 1983 Bonds shall be sold and delivered to the Purchaser as
provided in the Bond Purchase Agreement, at such price (not less
-2-
Res 83-36
,FIX
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?,,a? ?V5.7??..1 ? `-?:??; . ! rr a'1•t•f.?? y' .?e;t:}',a .t,•[ ?'„'?'3{'',, 'Y +?,Ft• k,."L?',, 'd?i?. Y^
t, s ?rr;: s t ?'?,;Si', kL zs3 `?J ?'.;-'?..1 xt• SF d2 t?J ?'`$'`1 ?S t f?`?'
f aS,?3, n. •, 5 • ? i??t.,7 ; .....:??(.?t •S.t. IF' ?? f'•'; ,?r J'nS r}?>?t4?S'? ?•?.f'" .x r ?'l e? 1e 3 -
.t. n;•! ;' ; Ft?.x •` t:.?x.J,S, ,i ' d:b>?• !.. 8.. ?':." ?' :ri t:?i ^rx'B ;r" 7 ?'Y'li .? r `r ?.
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x than ninety-two percent (921) of the face amount of the Series
1983 Bonds) as shall be agreed upon writing by the Company and
the Purchaser, plus accrued interest from the date of the Series
1983 Bonds to the date of delivery thereof.
SECTION 5. DISTRIBUTION OF PRELIMINARY OFFICIAL STATE-
MENTI AUTHORIZATION OF OFFICIAL STATEMENT. The distribution by
the Purchaser of a preliminary official Statement, substantially
' in the form submitted to the Issuer by the Company with such
y, changes, corrections, insertions and deletions as may be approved
by the Mayor-Commissioner and City Manager of the Issuer and by
.!{ the Company and the Purchaser, in each case such approvals to be
evidenced conclusively by their execution of the Bond Purchase
Agreement hereinabove authorized by this Resolution, is hereby
approved, and the issuer hereby authorizes the Mayor-Commissioner
and the City Manae!er of the Issuer to execute and authorize
distribution of a final official Statement, substantially in the
form of the Preliminary Official Statement hereinabove approved
with such changest,'corrections, insertions and deletions as may
be approved by tha Mayor-Commissioner and City Manager of the
;w Issuer and by the Company and the Purchaser, in each case such
:•° approvals on behalf of the Issuer and the Company to be evidenced
t, conclusively by their execution of the Official Statement and
14 such approval by the Purchaser to be evidenced conclusively by
its acceptance of and payment for the Series 1983 Bonds.
SECTION 6. REPEALING CLAUSE. All resolutions or
orders and parts thereof in conflict with the provisions herein
.? contained are, to the extent of such conflict, hereby superseded
and repealed.
r SECTION 7. EFFECTIVE DATE. This Resolution shall take
effect immediately.
PASSED AND ADOPTED this 7th day of April , 1983.
Attest;
tv
City clerk
-3-
`.Y.' ;;.. Res .83-35. ,
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%;;;g
RESOLUTION NO. 83- 36
A RESOLUTION FURTHER SUPPLEMENTING ORDINANCE
NO. 2556-81, AS SUPPLEMENTED BY RESOLUTION NO.
81-105, SAID ORDINANCE HAVING BEEN ENTITLED t
"AN ORDINANCE PROVIDING FOR THE ACQUISITION,
:'s' :4:5•`''`:'.r CONSTRUCTION AND EQUIPPING BY THE CITY OF
CLEARWATER OF A PROTECT FOR A NURSING HOME,
ti;';, : '`•?; ?'.::',' PROVIDING FOR THE SALE OF SUCH PROJECT TO
r^ BETHAMY GARDENS, LTD,; PROVIDING FOR THE
:'
°`Y;a:' ":
'::•' ISSUANCE BY THE CITY OF CLEARWATER OF UP TO
,
.,
r
;:
,,?
•_
.,
j.-. $4,000,000 PRINCIPAL AMOUNT OF ITS FIRST
,
.,
_,,,„
,;
, MORTGAGE NURSING HOME REVENUE BONDS TO PAY ALL
OR A PORTION OF THE COST OF SUCH PROJECT;
PROVIDING FOR THE RIGHTS OF THE HOLDERS OF
SUCH BONDS; PROVIDING FOR THE PAYMENT THEREOF;
PROVIDING FORA NEGOTIATED SALE OF SUCH BONDS?
s'.'= ;??.,,.,•y, ,.•',,E'•
;;:_ ;'+;. •'s,; s , : ` ; MAKING CERTAIN OTHER COVENANTS AND AGREEMENTS
IN CONNECTION WITH THE ISSUANCE OF SUCH BONDS;
a`7;,Er:'.'.'_ '•;? .-" PROVIDING FOR PROPER NOTICE OF PROPOSED ENACT-
FO
T
_,; MENT AND PROVIDING
R AN EFFECTIVE DA
E;
1
.
:,
'`
, APPROVING THE FORM OF AND AUTHORIZING A BOND
L
r
_r,
-
f w PURCHASE AGREEMENT FOR THE NEGOTIATED SALE OF
SUCH BONDS; AWARDING SUCH BONDS TO THE PUR-
CHASER THEREOF; APPROVING THE DISTRIBUTION OF
A PRELIMINARY OFFICIAL STATEMENT AND AUTHOR-
.
IZING AN OFFICIAL STATEMENT RELATING TO SUCH
BONDS.
WHEREAS, the City of Clearwater, Florida (the "Issuer"),
by Ordinance No. 2556-81, adopted by the Issuer's City Commission
on November 19, 1981 (the "Ordinance"), authorized the issuance
of up to $9,000,000 principal amount of the Issuer's revenue
bonds designated the "City of Clearwater First Mortgage Nursing
Home Revenue Bonds (Bethany Gardens, Ltd. Project), Series 1982"
(the "Bonds"), for the purposes stated in the Ordinance, and pro-
vided for certain other matters related thereto; and
WHEREAS, the Ordinance was adopted by the Issuer's City
Commission, the governing body of the Issuer and a body elected
pursuant to the Issuer's City Charter and other applicable provi-
sions of law, after a public hearing for which reasonable public
notice was duly-given and at which members of the public were
afforded reasonable opportunity to hear and make comments with
respect to the Bonds and the nature and location of the Project
described in the Ordinance (the "Project"); and
WHEREAS, in Section 3M of the Ordinance the Issuer
found and determined that a negotiated sale of the Bonds is
required and is necessary, and is in the best interest of the
Issuer, for the reasons stated therein, and by Section 9 of the
Ordinance the Issuer authorized and agreed to a.negotiated'sale
of the Bonds pursuant to a bond purchase agreement to be approved
by resolution of the Issuer; and
WHEREAS, the Issuer, by Resolution No. 81-105, adopted
by the Issuer's City Commission on December 17, 1981 ("Resolu-
tion No. 81-1050), approved and authorized a form of bond
purchase agreement providing fora negotiated sale of the Bonds
by the Issuer to the underwriter named therein, awarded the Bonds
to said underwriter, approved, ratified and confirmed the distri-
bution of the preliminary official statement referred to therein
and authorized the distribution of a final Official Statement,
and approved and designated a trustee under the Indenture of
Trust, Mortgage and Security Agreement for the Bonds; and
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WHEREAS, the Bonds have not yet been issued due to
delays caused by certain administrative proceedings relating to
the Company's certificate of need for the Project; and
WHEREAS, the Company has requested that the Bonds be
redesignated the "Serieu 1983 Bonds," has submitted a revised
form of bond purchase agreement (the "Bond Purchase Agreement")
providing for a negotiated sale of the Bonds by the Issuer to
American Municipal Securities, Inc., as underwriter (the
"Purchaser"), to be executed by the Purchaser, the Issuer and the
Company, and has requested that the Issuer approve and authorize
the execution and delivery of the Bond Purchase Agreement and
that the Issuer award the Bonds to the Purchaser; and
WHEREAS, the underwriter named in Resolution No. 81-105
has provided to the Issuer a letter releasing the Issuer and the
Company from any and all obligations to said underwriter under
the bond purchase agreement referred to in Resolution No. 81-105
and consenting to the award of the Bonds to the Purchaser; and
WHEREAS, the Purchaser has provided to the Issuer a
disclosure statement pursuant to Section 218.385(4), Florida
Statutes, as amended; and
WHEREAS, the Company has submitted a copy of a Prelimi-
x
nary official Statement (the "Preliminary Official Statement"),
y7' relating to the Series 1983 Bonds to be underwritten by the
Purchaser, and the Company has requested that the Issuer approve
the form and distribution of the Preliminary Official Statement
?•M`J'i'
and authorize an Official Statement relating to the Series 1983
,k s Bonds;
NOW, THEREFORE, BE IT RESOLVED BY THE CI'T'Y COMMISSION OF
THE CITY OF CLEARWATER, FLORIDA, IN SESSION DULY AND REGULARLY
ASSEMBLED, AS FOLLOWS!
f SECTION 1. AUTHORITY FOR THIS RESOLUTION. This
Resolution is adopted pursuant to provisions of Chapter 159, Part
II, Florida Statutes, as amended, Ordinance No. 2556-81 of the
Issuer, and other applicable provisions of law.
SECTION 2. FINDINGS. It is hereby ascertained, deter-
mined and declared that the Limited Guaranty Agreement to be made
by Salu Devnani, Ronald D. Carver and James H. Lewis, as
Guarantors, substantially in the form submitted by the Company to
the Issuer, is satisfactory and that the findings set forth in
Section 3 of Ordinance No. 2556-81 continue to be the findings of
the Issuer.
SECTION 3. APPROVAL AND AUTHORIZATION OF BOND PURCHASE
AGREEMENT. The Bond Purchase Agreement proposed to be made among
the Purchaser, the Issuer and the Company, substantially in the
form submitted to the Issuer by the Company with such changes,
corrections, insertions and deletions as may be approved by the
Mayor-Commissioner and City Manager of the Issuer, such approval
to be evidenced conclusively by their execution thereof, is hereby
approved and authorized; the Issuer hereby authorizes and directs
the Mayor-Commissioner and the City Manager of the Issuer to exe-
cute and the City Clerk of the Issuer to attest, and the City
Attorney to approve as to form, sufficiency and correctness, the
Bond Purchase Agreement, and to deliver the Bond Purchase Agreement
to the Purchaser and the Company= and all the provisions of the Bond
Purchase Agreement, when executed and delivered by the Issuer as
authorized herein and by the Purchaser and the Company, shall be
deemed to be a part of this Resolution as fully and to the same
extent as if incorporated verbatim herein.
SECTION 4. AWARD OF SERIES 1983 BONDS TO PURCHASER. The
Series 1983 Bonds shall be sold and delivered to the Purchaser as
provided in the Bond Purchase Agreement, at such price (not less
_2-
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than ninety-two percent (92%) of the face amount of the Series
1993 Bonds) as shall be agreed upon writing by the company and
the Purchaser, plus accrued interest from the date of the Series
1983 Bonder to the date of 'delivery thereof.
SECTION S. DISTRIBUTION OF PRELIMINARY OFFICIAL STATE-
MENT= AUTHORIZATION OF OFFICIAL STATEMENT. The distribution by
the Purchaser of a Preliminary Official Statement, substantially
in the form submitted to the Issuer by the Company with such
changes, corrections, insertions and deletions as may be approved
by the Mayor-Commissioner and City Manager of the Issuer and by
the Company and the Purchaser, in each case such approvals to be
evidenced conclusively by their execution of the Bond Purchase
Agreement hereinabove authorized by this Resolution, is hereby
approved, and the Issuer hereby authorizes the Mayor-Commissioner
and the City Manager of the'Issuer to execute and authorize
distribution of a final Official Statement, substantially in the
form of the Preliminary Official Statement hereinabove approved
with such changes, corrections, insertions and deletions as may
be approved by the Mayor-Commissioner and City Manager of the
Issuer and-by the Company and the Purchaser, in each case such
approvals on behalf of the Issuer and the Company to be evidenced
conclusively by their execution of the Official Statement and
such approval by the Purchaser to be evidenced conclusively by
its acceptance of and payment for the Series 1983 Bonds.
SECTION 6. REPEALING CLAUSE. All resolutions or
orders and parts thereof in conflict with the provisions herein
contained are, to the•extent of such conflict, hereby superseded
and repealed.
SECTION 7. EFFECTIVE DATE. This Resolution shall take
effect immediately.
PASSED AND ADOPTED this 7th day of April. , 1983.
Attest:
cam- ?.Gw,+?`J
r,4
City Clerk
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'"??3r"y l'l?ita??.i?Y ,?f•, jr?f?l ', "
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C
yor-Commissioner
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