02-51
r
RESOLUTION NO. 02-51
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 stormwater system together
with engineering work regarding the stormwater facilities (collectively, the "Project");
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF
CLEARWATER, FLORIDA
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 stormwater 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 $22,226,000.
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herewith to the extent of such conflicts, are hereby superseded and repealed.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
Brian J. Aungst
Mayor-Commissio r
;g as i04'm
Pa ela K. Akin
City Attorney
Resolution 02-51
CITY OF CLEARWATER
Stormwater Utility Fund - 419
Projects for 04 Revenue Bond Reimbursement Resolution
October 22, 2002
Total for
Project Reimbursement
Descriotion Fund Number Resolution FY03 FY04
Storm Pipe System Improvements 357 96124 2,000,000 1,000,000 1,000,000
Town Lake 357 96125 1,007,000 907,000 100,000
Stevenson Creek Estuary Restoration 357 96129 4,641,000 2,674,000 1,967,000
Kapok Flood Resolution 357 96141 2,500,000 2,500,000
Myrtle Ave Drainage Improvements 357 96142 9,100,000 9,100,000
Stevenson Creek Improvement Projects 357 96144 173,000 173,000
Storm System Expansion 357 961 XX 1,000,000 1,000,000
Allen's Creek Neighborhood Improvements 357 961 XX 600,000 600,000
Alligator Creek Drainage Improvements 357 961 XX 1,205,000 1,205,000
22.226.000 16,354,000 5.872,000
0
Total Planned 04 Bond Proceeds per RlS Updt
(Sched 2, Lines 14 & 15) 22.226.000 16,354,000 5.872,000