02-50
'-
RESOLUTION NO, 02-50
A RESOLUTION OF THE CITY OF CLEARWATER, FLORIDA
ESTABLISHING ITS INTENT TO REIMBURSE CERTAIN PROJECT
COSTS INCURRED WITH PROCEEDS OF FUTURE TAX-EXEMPT
FINANCING; PROVIDING CERTAIN OTHER MATTERS IN
CONNECTION THEREWITH; AND PROVIDING AN EFFECTIVE DATE,
WHEREAS, the City Commission of the City of Clearwater, Florida (the "Issuer") has determined
that the need exists to construct certain capital improvements to the City's water and sewer system
together with engineering work regarding the water and sewer facilities, more particularly described on
Exhibit A attached hereto (collectively, the "Project");
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF
CLEARWATER, FLORIDA THAT:
SECTION 1. AUTHORITY, This Resolution (hereinafter called the "Resolution") is adopted
pursuant to the provisions of the Florida Constitution, Chapter 166, Florida Statutes, and other applicable
provisions of law,
SECTION 2, DECLARATION OF INTENT. The Issuer hereby expresses its intention to be
reimbursed from proceeds of a future tax-exempt financing for capital expenditures to be paid by the
Issuer in connection with the construction of the Project. Pending reimbursement, the Issuer expects to
use funds on deposit in its water and sewer utility funds, general funds and other funds legally available to
pay a portion of the cost of the Project. It is not reasonably expected that the total amount of debt to be
incurred by the Issuer to reimburse itself for expenditures paid with respect to the Project will exceed
$35,245,213, This Resolution is intended to constitute a "declaration of official intent" within the meaning
of Section 1,150-2 of the Income Tax Regulations,
SECTION 3, SEVERABILITY, If anyone or more of the provisions of this Resolution shall for any
reason be held illegal or invalid, such illegality or invalidity shall not affect any other provision of this
Resolution, but this Resolution shall be construed and enforced as if such illegal or invalid provision had
not been contained therein,
SECTION 4, REPEALING CLAUSE, All resolutions or orders and parts thereof in conflict
herewith to the extent of such conflicts, are hereby superseded and repealed,
SECTION 5, EFFECTIVE DATE. This resolution shall take effect immediately upon its adoption,
PASSED AND ADOPTED this 21st
day of Novembe!; 2002,
lltJO roon
Pamela K. Akin
City Attorney
v
~1/Cynthia E. Goudeau
V City Clerk
Resolution 02-50
CITY OF CLEARWATER
Water & Sewer Utility Fund - 421
Projects for 04 Revenue Bond Reimbursement Resolution
October 22,2002
REIMBURSEMENT RESOLUTION
Total for
Pro' ect Reimbursement
Descriotion .EYnQ Number Resolution FY03 FY04
WWC Interceptor Lines 356 96605 2,813,000 1,386,000 1,427,000
Sanitary Utility Relocation Accomodation 356 96634 400,000 400,000
Facilities Upgrade & Improvement 356 96654 580,213 217,213 363,000
Sanitary Collection & Transmission R&R 356 96665 9,166,000 5,276,000 3,890,000
Pump Station Replacement 356 96686 5,115,000 2,520,000 2,595,000
WWC Force Main Replacements 356 96693 1,076,000 530,000 546,000
Manhole & Gravity Line Repairs 356 96694 1,250,000 750,000 500,000
WWC Lateral Repairs 356 96695 500,000 250,000 250,000
THM Control 356 966XX 1,700,000 1,700,000
Reclaimed Water Distribution System 356 96739 6,336,000 2,553,000 3,783,000
Water Supply & Treatment 356 96740 1,771,000 1,371,000 400,000
System R & R - Capitalized 356 96741 717,000 717,000
Line Relocation - Capitalized 356 96742 352,000 280,000 72,000
Meter/Backflow Replacement Change-out 356 96743 519,000 284,000 235,000
Water Treatment Facility 356 96748 1,950,000 1,950,000
Water Service Lines 356 96752 1,000,000 500,000 500,000
Total per FY03 Budget Book [a] 35.245.213 20 84213 14561 000
Total per FY03 Budget Book
[a]
35,065,000 20,667,000 14,398,000
35,657,000 21,096,000 14,561,000
(411,787) (411,787)
35.245.213 20 14561 000
180.213 17213 163 000
17.213
Total Planned 04 Bond Proceeds per R/S Updt
(Sched 2, Pg 1 of 3, Lines 27 & 28)
Less Excess Proceeds on 02 Bond Issue:
Water Pollution Control R & R
343
96664
Additional Project $ to be Identified for R/Res
[b]
[b]-[a]
FY03 First Quarter Amendment - increasing 356-96654 Facilities Upgrade
For FY04 6 - yr CIP will increase 356-96654 Facilities Upgrade by
WtrSwr 04 Bd Projs for Reimb Res 220ct02.xls/Sheet1
Page 1 of 1 1 0/24/2002