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'�' .,�.uwr� ' ' � �'%a..Y Gxtii',��1±�;Y ."�iJ.�: h=i , �� ri� � � , r ` � i� f ORDINANCI3 NO. s`33�-8� AN OIZDINANC� AUTEiORIZiNC TIIC ACQi1ISlTiON, CONSTRUC'I'�ON, AND/OR IN�TALLATIUN f!F YARIOUS MUNICIPAL CAPiTAL PROJL�CZ'3 IN T�IB C17'Y OF CLEARWATER� PLQRiDA; AUT!#ORl'LINQ THI3 RBI�UNDINC3 OI� THB QUTSTAZ�DIN[� UTILiTI�.4 '�AX AND Rit1DC3E RF3VBNUB 80NDS, SFsR�FS 1977 ANII UT1LiT1FS TAX HOND3, 8IIRiL9 1977, OF TH� CITY; PR4YIDINCi POR 'TiIE L4SUANCB GF NOT SXCBBDINCi $15,000,000 i'UnL1C SSR�dICE TAX AND DRiDaE RL�VENUE DONDS, SL�RIES 1985, OP T1iB CCCY TQ BB APPLII3D TO PAY T�i� PRINCI�AL AND INTI3R&ST 1N HI3.SP�CT TU 3A1D PRk�•SBNTLY OUTSTANDINQ �ONDS AND THB COST OF THE PR43BCTS; PROVIDINCi P�R THE PAYMENT OP THII 1985 dOND� �ROM THE PUBLIC SBRYYCE TAX AND FROM Ti�E NET REVENUES RBCEIVBD FROM THB CLBARWATSR PA13S i3R1D{3E; AND PROYIDING AN BFFECTNB DAT& ' B�3 �'I' ORDAINBD B`i THE CITY COMMISSION OF THB CITY OF GLEARWATBR, FLORIDA: Section 1. AUTHORITY FOR THIS ORD�NANCB. Thia Ordinance is enaeted pursuant to Chapter 166� Part II, Flarida Statutes, and other epplieable provisions of law, Section 2. DEFINITYONS. The following terms shaU, have the fo'tlawii�b meanings her�ein, unless the text otherwise expressfy requires. Words irriporting singular number shell lnclude the plural number in each case and vice versa, and wards importing persons shall inelude firms and eorporations. "Accr�ted Vaiue" shall mean, as of any date of eomput�tion with resPect to any Capital Appreciation Band, an amount equal to the principal arnount of sueh Cepital Appreciation Bond (the princi�al amount at its initial offering) pIus the interest accrued on ��ch Capital ApAreciatian Bond from the date of delivery to the original purchnsers thereof ta the interest I'ayment Date next preceding the date af eomputstion or the date of com�utatton If an interest Payment Date, such lnterest to acerue st a rate not exceeding the legal rate, compaunded semi-annually, plus, with respect to m�tters related to the payment upon redemption ar acceleration af the Capital Appreci�tion Baids, if such date af computation shall not be un interest Payment Date, a partion oi the difference between the Accreted Value as of the immediately Qreceding interest Payment ,�]ate and the Aeereted Value as of the immediateiy suceeeding interest Payrnent Dat�, -"�calculated based an the assumption that Aecreted Value s.ccrues during any semiwannual periad in equal daiIy emounts on the basis of a 380 day yeer. "Act" shall mean Chapter 166, Part IE, Flarida Statutes, arid other applicnble provlsiuns of law. "Additianal Bonds'T shall meari Bonds issued on a parity with the 1985 Bonds under Seetian 163 hereaf. ' LKIr01/14/85-562A-1873 , � � - Rev.42/20/85 ` � Rev.43/12/85 � , xcv.os/13/s5 � , � , �, ard. 3932-85 -1•- 4/4/85 .-. � r. .�. " s�.w.-..ew.��.a KnS'.CSx .. ' '. .i: �:r�`��:tS'r?. � _ . ., . � - . . l � �.F:� �� ..., �� . � ' . . ��. .- � ... •�... .. � .l • . . , r . _ .. y.w .�e:'i'., . , , - ' " 'r . '�^'' . ' . , . . . , . ,. - �,y. , .. , . .-r e ir e•- . `a..,.+v.�..�.�� .:. , "",,r-a� . . r . .,. • q� , t �.,5:e-E:•y. r .. . .�nre!!3t t^.• j° �ey. `, �:. ' , ' . • • . � 1' � . �i �.. . , �', . . �: '+ : c", '-'� . ,.a . � .. �Lf s ...t, � i.'. . . . . . . , � ' 'f' ,�}�l'�s�;"••�•:" ;1..A;h�'..4 � �`y....�� ., r ':tr :�s'. , . • . � _ '`- . <<•, ❑�q��:: ;E'� - F,;.` �: ��.a,,(��: � �.c"��jt..y�� . M�; . . ;�.i. ;;,:�y;-� .";::= '. z .�.-_,}� :�� ' �� .*i4t . '"=AS. • ^[f�` _ t. ° , )1' '3 `lY� } { ;(' ri. w'ti iv�,.',.:�.� ,�'' S�S x �f } �� . L '�'�.� `� j �d` d7 t y� y '; '!-s �' �r �, ' I�4. ��'. ' , v," e�� r�. .4 . .'t.'i'. . . .f!':" . , t� �i' �n ��F . . Y + � ) .. .. . •�� . '-z . . •� .�•F .. ,. . �i�'��. �.v'. 3: 7 �� } •.1 .` l�. '71' `�'i`. . a�. Sg�.f�`.^� 1 1.� . . • 4 "• i� S>�#'� i✓ �," ,r;• ,'.t r . . ,.7 � s F sG ..�P, . , Er .'S'3' Y,�45'�.-F. . .. .. .. . .�1..'r.4.'• .�l.e.��f ..Jrr '.��..'.��.��e. ^r �'t'• 'r :1 .'I'� . �i�: 3 t '�f.: :i� =i.4tnb, y� T' .4� ''Z�.� , ti� '.l ^'F� ^ 1� Y � '�'��>t'� �i �..i Y'i� "t�^ .{ f•�a�� r�:r Ck i :� `i�' ..r�.v,: S .: J, E y . . 'ir4. E ^Sr• '^��. ri'. ."t.�:.�': �,5.�� r5-�� s �!r�� '4' Y� . .:i• •`k., ',s, '.ti�'' .f••, -'J. ` ..s. : i ` :�. V' .' ., �`i'L :� .��: r"s' �', , �� , �',�,::, 9 . S-' . . . , . :Y+d.' ''"� . . . �'i1:`a`!�c:. .,:y;: ., v.?.t �.b�� 3 5� . . �A.�' �'��. .4' . F.� Y 1::' �.fu�., '\J� �.' �{. �� ' ...}. �.� ...r�s ` . i'. �i: . � � �s �5+-•�" d ,'•!�� 'i . .. •�-.. i i"•� �•`F, hry,,. a� , , i =r.' ^�'�'� �&.., �„� , .N�, �.�� ;�"'at ';�•'� ;Ga��`' �t x' . . Y . . . . �� ; "c' N 3 . i � '.L� � t� i" •ie . � :.� i . 4 s•. �:ti�. � i .i. � f. 't: -i r•• :r::._ia.�w�, < c`t � 'd+i'd&}S'dkS�..� ';e i" r `�'Ftt�.�- - - �,.. .. � 'mxr.t+� .ea m wrriwuti/i4 a •.0 . .. -+.7 x . . �[" ^� k --.—.. ' ii:,� . . . .. � ?.`�_`'xi, .. tY �� ,. . �� , ;' .: � ��`� "Ar�ortizatlart Instnllm�nts" with r�speet to a�y Term Bands of n s�riQS, shall mQOn an amount �r �maur►ts so deslgnnted whiet� Is or ar� estQblished [or thd Torm F3ands o[ such series� provided ti}et Ii} cnch such instnllment �hall bQ deemed to be due on sucti interest or prinefpnl m�turity date of eneh upplicable yenr ns ls fixed by resolution of tt�e Cssuer ar�d shall be a multiple oi �5�OOQ prineipnl r�mount �or �5�U00 lliuturity Amount, in ths cose of Capital APAreciation Tcrm Bor�ds}� and (4i) the �ggregate of suoh instollments for sueh series st�ali equal ths ag�;regate Prineipal amount (or Maturity Amount, in the case of Capitul Appreciatidn Term 8onds) of Term Bands of sueh series c�uthentic�ted and dellvered on original issuance. ��Auth�rized Investments'� shall mean any of tne following if and to the extent the same are at the time iegaZ for irtvestment of municipal funds: fa) direct obligations of >, � or obligations, the principal of and interest on wMch are uncond[tionally guarar�teed by the United States of America; (b) bonds, debentures, notes or other evidence of indebtedness payable in eash isstied by any of the following agencies whose nbligations represent full faith and credit of the United 3tates at America: the Export-Import Banit of the Ilnited 5tates, the Federal Financing Banks, �armers Home Administration, Maritime Administration, Puhlic Housing Authority and the Go�ernment Na:tianal Mortgage Assoeiation; (e) certifieates of depostt pro�erly securec3 at all times, by aollateral security described in ie} and (b) above� but anly wIth aornmercial banits, savings and laan assoeiations, and mutual savings t�anks; {d1 the following irivestments fully �nsured by the Federbl Deposlt Insvranae Corporation or the Federal Sa�ings and J.�oan Insurance Corparation: (i) certificates af de�asit, i2) savings eceounts, (3) deposit accoun3.s, or (4) depository reeeipts of a bank, savings and loan $ssaciations, snd mutual sr3vings benks; ie) investments under ihe "Investment of Loea1 Government Surpl�ta Funds Aot", being Part IV, Chapter 218, F3orida Statutes (i983). "Bondholder" shal� mean a registered owner of a Bond as shown on t3�e registration baaks af t�e Registcar. "Band Serviee Requirement" for any Fiscal Year, as sPplied ta the Bonds of any series, shall mean the sum of: li) the amaunt required to pay the interesE becoming due an the Bonds o� sueh series during the Piseal Year, except to the extent that suct� interest shall have been providsd by payments into the Bond Fund aut of bo�d proceeds for e: speciflc period af time or by payments of imestment ineome into the Bond Fund from the Sinking Fund "�c:cuuul or rsny subaceounts thcreiR. LK�02/2p/85-562A-1873 Ord. 3932�85 -2- � 4/�i/85 . . . . -- -- ------ .-�.� �.��- ---- . _._:.�._.4.�:�-*�,�� x , , . , , ��:�� ^ � �i�� ;;;�� ;�.:,°. :,�,°w ,�'y:;�;;fip:iy � � � . , • , ,- ';{: �.,A�� ".L^',��j+, •'';•�li`it°st�. �.. . . .s: .. . .. .� ... ,,. . • ,. .�. �s- h,r�C�j`ii�',..�.f .��n.:�. . . , �;(d:..�p�,. .,,.>;omr:;ar.- . . .Y:tcr:.• .z � :��*•s'"••:ts. ,.�.,; ..t. ', . � '�: .1'�'. . , . . . , . �"° � ' . SI�,' ,,i,^ .. �1,h . . . . .'f r �1 ,q FK.<i r:a .'4.r .. . 1�. `:YA;�� q� ' h;;�4� �.,��,.,e ; '.S, ,� g.. .1 , i i •�4�.A R � i 4�„4!��' �� , }i e� ��1'' E2� P .)5 iii :�`. J' o!'. ,'4'.'(,� � y :�}r ;�y�,� , i; '4 . '� A �' . k ' •i� ` '�� , '�3 - ''Y � .'1: � :.I' � .``i �� ' Y. y.°' `j • • �.: n"s " � v1•' , .:.�. .i� ys G�. ti, .< .-.r'. .�.� ..y� � :�d� 'i� .�1` �r',� 'i't;•7 .t t^. �. �1: � .:� f. -z c� 1' 5��:,... ^.r' :.� • -'�'. '.'t':',.i�:� ' - ."{,', n.. +�� .+ffi '.`is•.e .t•> i. ; V,• V.'4, a r' � '�i�s "c' � �. �•` .�. r z �� - .� ��u ;: r ,y."� �¢� y, .��, .e, w :,j^ r'; -r�� 'i'', t z;� y '"rr• �'i' ae� �'S •,1' �°�..._ �s e.�' :�o� :4'��' .c� „�,�'j� >��s"" '#� f.°�", v. �: :5�. 'i' ''�t l"' '''s° ^ ; >� . a , `=tr R uI�E. .. . :%� .�' �� 't:.'� .'P� �'. 6. ��v. c� ri�`, '4'''• d� �i } 2"" ,,.'j '.y` '� .i. _ � �'�d �' ,r��t�`i��%�+ .�� s r� .�, r t•.' '3� ,�� .t,: ��"y ] r.i� ♦( 'ti 'F` '',>••: 'ei' ..1� 6^4 si ,t'�ti. \�" r. �Y r4i `j; jv'r'�'. a '.:d�I, �'3., 4 ; � ..i'/!'' �7`::. ' S_ J4, !' �:ai'�,- :'. �ta � #G h o ?,�i •'{� .��_i e-ro (i e { �'' •,�. �•. `;�.. — �,� ��- +YL ��. £. .f -�s� t: `t .t�` �:t�•< ,�,,� ,� �' . 4., " i v,. i ,-. �. %{�,".^" j >s':: '.#x ��%,. `I.� ,Y, �'l�,i.: 5� Y' �iC i,• .; �F"i' T` • '1:�' , nf��" �iY' ! Y' .<,` i n.. 'e�C" '�� .I' 'i: a •'�' .3 ,` ��` • . �, .-.4. . � ' �s'�3 r7° �.Y '<a' � � 'i:",�' , r `�a'%i" 3 ?'h�t5. ' r•• � e{ . •:�" i '�, r.�;:'. }��5� .i. :ii`'. .N",».'•i i'-`�,<, :l �"'t� •:;'rc.. �S .� F!. rc y� q �`.�': ��.. i:' I., , �°� ,ri:: ;•� � ;;' 3:� °�.�'c�. , >.�. - >�.. , :}7 �.Y�>. ...i n ..r.. �'c: V �,x a�.. ;-�. - " 1.�. % f''� -��'x :� � ° :`%s ..r'4"`� = •''.-� P� ��F.'• 5': �1.� �. $ :;f' e,a. 't'' :<ia'� Cla Fr .��q..� ,}. .( �e1 , r�, r �'a� � 41f-� .�dr -�,'� +.>� L1-�� Y ° ( � � � � � . �9� V ,i: �.i �'i .'L' 1��,..'.�-;,�:''�� .;�,.i�;�. }.d ic� `4°1 �: .r` �� .i ;.�� ° s ��5. t'.. � . �, i�; .a. �t ��! � { �.'i: e, :i � �'°i� - .�` � .'�' s:,..t �t �� : �...-: � !�i � ! "Yd ' r' �,�` :i"' �'t � ' ;t ;� . �tv � f . ^ �4 ] _ $. '�1�, � .Y � �S •C/'� rl ' .� M:.� _S`' .i�r. �`F ''1..� ,e��~.,�. . t''•.'.;.4 f` ��:. .l � ' j'iti}'e tF. .t. sY"��. ."l S^. ,! � ifie 'lia` j,.'' .r t{�g": 's '�r . . P' b +�`i".;�'.s: ` �% �'f`. �T.'.;'. , x.it°'�' °. . ).,. � ��` _.� ..x_„ t � ��,'it�,. °.r.�. �;.�: '.f.w • y� � � ~'i, `A�.. f•. �9'.. .t:• 1c `.i -�;i r4� n^�F-'. . �fdiFfM:f�.a;.:.aS.�.i,...<i,�4,.-�rr:� +.uei,.r�V�liht�i4�pi��'p�5�6i�yJ14PhMihfl%Gw�l�7!^ �i+.;ar:a�':}.i�;:.w��i:7.J+aJ.ci�s�4:t:$M i^�.,' ,� �He�l�Mw�rM�r.ar:'�le-.. �[,•:.$�!"«.P't� ir1,: � � � C2) tho nmounk rcquired to pny thc� prinelppl of 3eriuI E3onds af such sarl�s mnturing in sueh �'i��al YQar. (3) tha Amorttzatlon instnllments for the mnturtkles of Tr�rm Sands of such sarir�s [or �uef� �'isenl Yaar. �4) in the avent tiie Issuer has purchased or entnrad ir�to un ngreoment to � purahoso Federol Seeuritlns or Autl�ori�ed Inve::tments from monoys in thQ Slnktr�g Fund Aeeount, then �t�� innnme rccclved or to ba received on sueh I�edernl Securitles oi� Aukhorizad Inveatments fram the dute of acquisttfon thereo� to the ddt� ot muturity thereof, unless ottterwisa deeign�tad for oth�r purposes, shull be taken into e�nalderation „ in eplculat[ng tt�e �ayments whteh will be requi�ud to be made into the Bond �'und and the , 8[nking Fund AccouRt therein� "Bonds" shall mean �the Publ[c Service Tax and Bridga Revenue Bonds, Serles 1965, herein autho�ized to be issued, together with any A�ditional Bonds hereafter lssueci under the tPrms, cor�dittvns, anc� limitations contelned herein. "1985 Honds" shall me�n the Pvblia Serviee Tax and Brldge Revenue Bonds, Series 1985, herein authorized� "Bridge" shall mean the exlsting bridge across Clearwater Pass between C�earwater Beach and Sand Key in Pinellas County, �lorida. ttBridge Percentage" a1�all mean the amount of i985 Bond proceeds deposit�d Into escrow to refund the Utilities Tax and Hridge Revenue Bonda, Series 1977, divlded by the total 1985 Bo��d proceeds deptisited into the eserow for both �ssues of Refunded Bonds snd intn the Coristruction l�und, determined on the date of [ssue of the 1985 Bonds. "Cep{tal Appreciation Bonds" shall mean the 19d5 Bands the interest on whieh is psyable on�y at maturlty or redemption, ns determined by subsequent resolution. � "Capital Appreci�tion Term Bonds" shall mean CapitaF Appreciation Bonds of s � ` series all of which shall be atated to mature on one date, whieh shall be subjeet to � � . j � retirement by operation of the Bond Amortization Aeeount, and the interest on whieh is a t �: . �, ;. ' ,. � , f :�i. � payable only at maturity or redemption. • "City Engineer" shall mean a registered engir�eer employea by the Lssuer as Director of the City of Clearwater Publie Works Department. "County�t shall mean Pinellas County, Florida� a political subdivision of the State of Floride� "Escrow Deposit Agreement" means that ce�tain Fserow D�postt Agreement to be entered into by and betwesn the Lasuer and a banlc or ;rust eompany to be seleeted a:nd named by the Issuer prior ta the delIvery of the 1985 Bonds, in substantially the farm n�tctcnea t�ereto as Exhibit A. LKIr03/13/85-562A-i873 O�d. 3932�85 -3- �/�/85 � .. ti �'��,��7-•y�"�'4' C� '.` — _ _ _- . . _ _... , T' ` ' � _ .t'�`��' w-..��.,J�=� � � , � ' . . . I . , ... , " ' " `S' ' ` a.;'�~ . . ' , � . ' i �.i.r •� "a. ,� .. , , .. . , .. , <. . � . .,,�..e • . . �. �a,�r;x. _ . � �. , , 7. ..t +, f• .w..._ <.,.z�S-cl. . .. ... . . �p..ay,e .,.tr. :^��°� M',r-Sa.i:.h,a.+„,.y.. +�r.e� s� y�� .w�s' ,� sv,=. .�y,:a�»::��r, Y�kr � .. ;` - � • ;�'.r'• . r� , 5 .. �� . ., � 't: ;.� . �,�� ` ;� . . . , ' S. ' � , ,' . . . � ' ` '� ::r'7i�} `��.¢:..�"r:� .J�71-{ �'•'�a".��"-$`.S, s�, � �`' '!~ ' i: ,�,� �r..�� ! .a. ` •i' , .' , :3'? � ,��;•i,� ..� i�'.y ..s�;�i�f P>.'.a�<u: If�' ,��: e�:Y°,• .i.. ;.�.6a.so,�?' �.. . , � . . . . . � '•��'��.�t-„?:i,,�3' �Y,-. ,�4 ..°�"�"'o�'`L"? �.yM'°.�. "' P�' _' Ih" 1 �'. : . _ . '!:s- 3 Y..... �'1"��:' . �1'��+x'.s. ! .�'t�. 1T`w ''��. . �l,�.A.ar , , b' ir.^•'.�-�• k�^s�+' . . 'f • , t ;��4 - uf:'; .;7',?, r � . . . .. • !. ,? ':3�' - �� -.x '7' � . � . . � , iT .s � 4w ,::M.+ � .. . . « ^. ., Yt a� k:a. t.. ��z...., � '°�y'.=}:'> .y .4s � F � . . �J� 'Y } .c i��A w.,� ,e1'J�� ''��' `,c .. '��± ?� .r: ;,'r %1zn,..;'.�f�(� .� t 'z• '1:��i' 9E `Y Y.� ,��'� .r�t .Sc-. �Cf':s�}� ;aa,��... �S� .� ! �, t' •:7 . a ,� �., •-�:- , 3 �ll� 'i` i {, .�r , � n. "�°'� ��. � 1� �a . . r s � ��. � ;'a 2 s' p � r.. a�';: ; , k t � ' � c ..�Y i '�i . . "r: � i.��:� � ,� 1 � .°st�� .�7` '�t i.,.� r� i . '.r: � ;. 'i 'e �� r. . .� .t.4ftr,�� t' Y.\'.1 °1�'!� 'v4', f` .7. ��l. 1 .Y^t°- +T Jw ,y .;i�`.' j': 1'3' 'YZ .l. ,b'' �!./ � � _i.' '°', � ''� �:. � : n. , .r � °;; _ ..6 ia �,S ��l i .t, `,i �,�f . l � - ';e� $� f . �h ] f•. �'1 � a,�� i'��. t.i '�ti �'i'� '•lt:i; ;, .j r�� } s'�'' �RS F' r��" +i..cs.., i� �� tia°.'.:',' S' ,�W .r. .�5 :,t ,j' ��i° 'l�- ,.o.r.;' :L... ,i,°';, ,�,' s � ��i. i t:.' �r� '!d, ..�: xi" �j � �# �:�''�:;`.r: n# i �: °c�' :=✓..';z'� ''�1.:.:� �• ry-,�� n � .� � ,€ � �.��: �: �A� � � ,'�� .,:, • .-;�. �:�M" �! •:r� ��'.'� ;�f. •,r.F�• �� ':a''- r��': 5��. ,.�� y ,.� . :`��.. °,;'' .;: , , f . i • S. h.. �`- ;. 3` /"F � .4 ' 1' �st�' °.1.� � ��(f�� +,��, � . . � k �,�.:.�� fl" . . - `li� . .:C ''J.'i'. �'y., e� :.3,t�..�A A' i �. �F� �Y i �'Y~ ^'1'° Y.�1�a .�:1'_!':1�1 �"-�rs.,. i "'C5w Oi�.'�Ct" ��'1� 'A� �4. �3f: i #' ; $� ��:. � �� a �'�F x ...ii -"•`sc:' � � �'.a:::s�1:' �,:.`:5:,:::i...J.S� � . P# c�' :��lr �i�Kl�i a.�i,.- -- .ui,.�i�1-.<�r.:•,i+�r��iwaxw--'-.' ...aa.�.::'�".�:,:�aw�.ww�vr�re+w�rw::.9:'e..c,il a.�. . �'.P;�.': a.:ni..�u:�.r«.w. �:i+..�L y �L,; °.�.�w.. ;4'. . . � =v .,Il .�� ; �„ .$;�� -� , �r��:' %: ��::;; �:�'�;; � � ,,_ s ;s:.: :p j�' z,: � ,. ,S'r �; � E.i ; �r : :; „ :� _ . `�'; d �� .. .. � ; >_; ,.;. � .;, � � � � X�-;':: ,� •�,�� : `, ° -'t_Y . . . __ . ;}:� i��;,��, , :;�,�:��=� ,, � ..,��;t s"��=: S .�y �':�n . . : ��'; y. r� yi��,tt?�� .ti ' � �'�.�;� '. ��'Fri; �.it., ' �Iril+, �� ii+�+ , . :,'. ` �',�,^� . �.y-��sµ . �' ��• : �'I3c�E( ' �:`� �'��k . r��"�4�"'�E� . ��s��>T,��'� , � • , � � 1t r' ,'��edornt 3aeurities" ehall menn only dlroat obiigQtlona oT, or abligntlons fully gunranteed as to prinelpal arid intereat by, the Un[ted Stetes of Amerlea, or treasury reeQi�ts evldancing �n owricrship lntcrast in pAyments of principal af ar int�rest on suctti oblfgations, "Flseal Year" ehnl! rnenn the Per�od eommenein� on October 1 of sach year and andtng on tn� suaceeding September 30, ar sueh other period �s is at the timQ preseribed by law.' "Lwsucr" sholl mean the City of Cleurw�ter, Flortd�� "Mpturlty Amount" menns the r�mount payable upon the stated maturlty of a Cnpital Apprecietian Bond equal to the prineipal amount thereof p1US all r�ccrz�ed interest thereon from the date of issue Lo the dnte of m�turlty. "Maximum Hond Service Requirement" shall me�n, as of any pertieular date of calculation, the greatest amount of aggregate Boad Service Requtrements for the then eurr�nt or any future Plsesl Year. ��Net Revenues" �shnll meen the Revenues, nt'ter deduction therefrom af Operating Expenses, and after deduction of required payments into the �3enew�l and Repl�eement Fund as defined tn and ptirsuant to Seatton �6A{2) hereof, "Operating Expenses" shall mQan the eurrent expenses, paid or aeerved, of nperatlon, maintenar�ee '�rid repair of said Bridge and shall include, without limiting the generaIity of the foregoing, labor, materiaLs, Insuranee premiums, administr�tive expenses relating solely to the Bridge, end eharges ior the accumulatioa of appropriate reserves not annual3y recurrent but whlch are such as may"reesonably be expected to be inc�rred [n aecardance with sovnd sccaunting practice. Operating Expenses shall not inc1�tde any payments for prineipal or interest on Bonds, or any allowanee for depreciation of Lhe Bridge or for ttre renewal aad replacement of eapital assets af t�ts Bridge. "Paymen# Date" shall mean, with respect to payment to the Bandholders of �rinclpal or interest on the Bands, or wtth respect to the mandatory amortization of Term Bonds, the date upon which payment of sueh prinei�al, interest or Amortization �� lnstallment Is requfred to be made to tt�e P�ying Agent. � "Pledged Rever�ues" shsll mean is) as to the 1985 Hunds, the Public Serviee Tax deposited in the Pub1Ic Service Tax Revenue Account nnd Net Revenues, ib) as to eny Additional Rorrds, the Public 5erviee Tax deposited ir� the Publle Serviee Tax Revenue Aceaunt, ar�d (c) as to all Bonds, the investment income earned an moneys he�d in au funds -----�- °.^� Q^^_^�±r�ts established under this Ordinance Iexcept ihe Publie 5eruice Tax Revenue Account) �d the proceeds of the Hands until app�ied as pravided herein, , LKIr03/12/85-562A-1873 � � �� ' , , Ord. 8932-85 :S ��/G/ 85 � - - --:::�.�t�,;,�'�:��-- ..��.- . , ... , - -^�--�,.4,,� �.�:: .. . .. . • : ; � f�t _�� _-�:- : -�: . , . Y: . � i . � �• �s�ti � � .�?4�t..1� ..o. ,,� ... _ . �ly,�r;��s....- . . . . >.u�.. ��.' ..,, vist^. �.?«::.° ��?�+,e,�1''..,,ar.?.y�tr.yry�.M.;r' W�.��.:. «,r� .,"'t;,�i:�"..: �^ .;��,_! o,r:ws�o. ' „?.'. ., h . ...,f.? ^.� . t: ." . : ' ' , g r , , . . : .. . ' . � +� F'.:.::A C.r ` r_, 'ti� s v�.nyt:� . + .lii� � � ,,k . � .'s;:•3 �t . � -:i,i"':i,j��ri;' y.j: , :-� �}'y��E-°�"' a{b � i °t . .. .;. .� •�;;. ' �' t'�,;.�.rrr''�,",{} � ,a� ,3, f•7.r�`�, asta '-4•, :.KJ' 'f.�ij�• �r :�., ��a.�t.t.;•S.>.��:.i-Y��.+ '.iv ?t '�',� �� ,� y' .3 �.i , �it"�:;�� 4`'i ' :.'£- �,..� .y'T•r .F. � L �'r ..rS yn►', . s3a' ..3 `Si,}.� .1 ..�," l��;rk.; M.�n ��'rt.A..�.':W .,ayiSs { � +� �q� �'r. �1;. :i��'- ':�":"� :i� t "r:.xf;i:. {F .a ,['4 .�'�."�� l�'. y�' �5 ^Y.x. �+E�-s� �1 �3. '�S� I `S• F d]e �°��. �::��. � L�,r �}� ��.� . .,� :�w-�' ��:;°� � "•.,.w f :� : �., ..%� , -t � - %t �„�,.., t°� r '�t�a,-r. � ��- �ry� `&�. �.'� . r'!i:'sj�' :.L�; -�:'.� s .k.. a�. ,t'f'`.. { y��s !.t..y,.°�RY . ��•t"'``::., iy": l .i°- ..�' '.f ^�° ,t '; i • 7�- . . . . . � � ' f�� .'<4'r.':� . t vdf. �_ s�.+ '��l . . � � R � �.!': 3.�4° f"t= Ss ,. i�iMi . )4�' )v *'E� ��f�� '''I" .�' ri . �';`f.'� �`t�� i.'i �1 ,. s 's'' �°o. y':� C' x%ry, t, �t, ;C -'.a _a'� ��,�r _,l � : z.° �:r �'i;, .4.. '�s.+ : i `. . .y.,. '�a: . A w�k°. 'f"w" e:k` � 4.�' � .�'. �YV . S � $ � f� F.�. 1.:�� t ? . '4 � �'1�� .9� S�' �i�� `i ..f.' 'yY� ..1�• '�5.� .�r�.:;�'ii� .5'.� .P ?; .'-i .h��' 1 ji,i•in ( *� 'j4y �f'M 'he� + iJ':'�. ��!' . f.' ..j"� �•��a �3. �� .�!t•v�, ,J ,-i. �3 f,.: �f,° �rx'_ :�:.e,pr•:, ��`_�..�;� 3 Y�: v� �„,,� ��L" !- .3 • ��l'�' .l �.4. C � ."i .L � � ..1. � . 4'_ L' �i:t ��t " f.�' r�': '�:i : ,L � -'i'...<. "l:�N;: r.a.z�2t ,� tt j, � �c >I''+ . ':ii ?�, �'h. .'$'� 't.� �'Yf:� .e:° i:� ..� '1� J: '�I�'..4. - � .a -� .hJ, � ,t . { "'1'. i': e�t.' � . Fi-'�'<`.;��'- ' x� . r..� a.� }.w�+;, i=�-.� ..-�"�� - 4� � �'� �i'•.t .:E. . e• - ,s�N . ,�.i ;,'f' :a �:r'� ':�. .a. '4 .�P.d.::-;!. '�i' °U' '�c� .t 'r. �� ' �eCeTS - 7.:� e ;�" �1: ` ¢�'."� ,�:" fii� ')Y".ar' - .fXi t,` '�i �t+ - .2 `i' :4-. .`.r.}e �k�''y;'�'^,'x. 'rt� :��` r:i..'�, b'.. .�w•y[,1' •a'.,[ �'Gz '� d e i��« r�l` �,4' �t;s ��yt s' y �i� E; ' .. i`4�.-. �,-�'«9' :a 4. ''1�N� 4�.: u P'i.. -i.., " i�� .i"' �:r. .:�. r.. j '�_: ir° P i ✓�' I'' ..!�r.,,J� .r_ 7��.q. `'-��:�'"1. `.ti.r.' .'a: .•'' ..'S : d'...� .k iF., ".t , ,.�.. .:3:' '-;•1t,� .i; :lt,'.. s;'j<>s.�a;;',':' .r,:�.;�:. '.�csx-: : 'i. ;:3;��" ,w,. •^�' � '.�• ��.3 �3�- � ��-. :Va:.::�3•. : t�.`�";,:� e w':•,� ' : i w.� :r.: i��' "}�:,, .� lU' :v°.::: � 6i..�:'::ti;�.�,��" ".� .�.. .x� �� . ...,:. i?;!:..,::-"�.,w^� :s '{�p�,�y'�� 'w'w��C.KS.x'�yi:.`_t�.i':H.v+c`tAM1i�rW{+'vY11�M'M i+.' � .y✓+�i�Y�.=.�.i�'�:�a.». .� .R1C.3�i�irWlYiMliif. • S:S�PAG � � � . "'Prola�t" shall menn eolloativelys {�) thQ ttequleltton and/or �nat�llatlon o� � munlaipal �traet lighting fneilities in th� Ctty �f Cieorwstor pursuant to khe report of thce En�rgY Oi'fiea o! the lssuer, dated Jun�inry 1, �985, entitled "Propos�l tor ttte City af C1QUrwater to Own �nd Maihtuiti the Stroet Lighttng System" or� filc with t�tc� �suer in thn apProrimntv nmounk of �3,8��,�OQf ib) the acquisttior� nnd eonst��uetian qf t� dawntown pnrking faciltty in t�te Clty of Clearwater descrlbed in the re�art of Rnlph Burlce dc Assoctates on file wltt� the ]ssuer !n the approximpte amo:lnt nf �1,600,Q00; ut�d (n) the � . �. � ,• . ; - . k i �� . .. Acqu�sitton of land aa a site for houstng personnel and/ox vehiet�s of tt�e lssuer's Pvblie Service Depar#ment !n e�n �pFroximate am�unt of $600,oDO. t�Pub�ic Service Tax'� shall moan the taxes levied and collected within the urea of the Lssuer on the purchgae of utiltties services pqrsuant to Sectton 166.231, Flor�da Statutes (farmerly Section 187.431, Flnrida Statutes}, and Artiele lf, Pub19c: Service Tax, . of Chapter 4Q, Texutiori, of the Code flf Ordinances, City of Clearwater ICode 198�) in effect on the date of this Qrdinance� e�s the samN may be amended from time to time Sherein nalleetively referred to as "public Serviee Tex Ocdinenae"}. "Refunded Honds" shsll mean ti�e Issuer's outstanding Utiiities Tax and Bridge RevPnue Bonds, Ser3es 297? and Utilities Tax Bonds, Series 1977� dated �une 1, X877. "Registrar" sh�ll mean t�e paying egent for the BonBs, as Hond Registrar, or sueh nther person, firm or eorporation as may tt�ere�fter be from time to tlme des�gnated by the Lssuer as trie Registrar for the Bonds. � "Revenues" sheil mean gll tolls, eharges or other income from any sourees received by the Issuer or eccrued to the Issuer, from tt�e awnership and operatior� of the Bridge, and all parts ther�of. "Serial BandsT' shell mean any Bonds for the payment of t�e principal of which, at the maturity thereai, no Amartization Installments are required to be made prlor to the twel�e�month perto� immediately preeeding the stated da#e of maturdty of sueh 5erial Bonds. "Term Bonds" shall mean t�e Bands of a seriss �ll of wh[ch shall be stated to mature on one date and whieh ehall be subject to retiremen� by operetion of the Sinking k und Aecount. Section 3. declaced thst: F�NDiNGS It is hereby �scertained, determined and A. The acquisitfon and instellstion of municipal strw�et li�hting within the nuun��rle� oi' the Issuer, as �+rovided �eretn is necessary to pro�: i: ,:::r the health, safety and general welfsre of ths inhabitants af the Issuer. / LKL-U3/1,3/85-S62A-1$73 �rd. 3932�-85 _g_ �+/�+/85 � , -�-.,��r.°�u=;,��'�'��`' ., °•. ... . : r • Y .. t . _,r . . . - s..—:,� ,rr'.,w'—. � ; . , . , � � . •'r. �...--: _. .. • ' . r.. . , ^ �..q.+o. . . y�c_ . � '.e,-:°�. r r.,, r� Jt.N^1.� [ ge.,. t re s -t�craj �r• �v�Sr.�" t.e�{�'paEu:r.�!..1�,°�r{�•'..3.te�1.. . ,<.�.m. : . ..-. ., .. . . :�e;R. ,.�m�. . . 1E,..r'•_ . . .. , �'�ie.��^+�"s�ii�� , -�Jr:•.e.e .. .:r-.""(��.•� .. �°d.� .Fk , �� , ,. s.. P-�:, „ °, � r�. , z, :,,. . . . , _ . . - , � '. ;r . ��,. .� : , " � .,�.,,,;i . .: ��.1: -+�� }�e�' � ' . " ' ; ' . • ' ' ' ,"''' �ti.i'l�..-': '' Y,�, ` � �' iS: ; ^"r' � ,x'cr'�l�fc °�'ti'"�; �S '_ 'h?�.,p t !'9� ',A, ,' ` . , '. '��'. `:'"� � `t'S 7=i,t"fi.=::':-�f.i.i+i��! � `� Y' '4a:�5��;',"�'� . sar .£ ;ffi'. �I� . .e� . . . "{ ,:� `T`f('"F,�s�.i�.},�•. ° �ep' ' ,}�t �' ��i�-�j!� e t'.1�.h. �.�. .�-� J�- ','�i:� �i7•. . - � �c �� .+, "t'� `r". I�' r;�a?" �°.t.-.:„S z�,ra ay �} �'t`'�w": .�e� 7�,Fi'1�t .�.t,�. �i� �� , l�C' ..J �.( 1 i�� :Z i�.f �"y�1�'w' r' P r ; ��t: � . '.l. .Rr : �}.:• i: i �4.. vw°U. -7 t ,}� 5e . . . �{ 3' ,� h' . . . ' i� .ra x�. .� #:�a'{�5 � . . . . . . .. �� 'b:t r'P,,^•r�A� x.i�°':.:': �do ,d.`�r� ss � � � . �i� . v, s: � `.�;: >y;.. i:. r r f.�' .�i..�r r .� i . `�'C r �. F�' i Y�� { r j °'" � r�� , i'.+ x 3 v�'%.(' i '� s� i r : J� �r - Y . �tx' ir: °�iet'Aa�� ,�t. .. 'i. ti�� .i 'h. i h.. :[�x tS".�'s� �� .�� "i. a' cw.% ' Si. ` �h: ` ,�"� , �'7' �:.;. % T� � .S'� 'rf. .�'�.�� F'.9 �j •L�,' .�li.� •�.I'° w�!' ✓ .':9 ,�,:� +�.�.'y,;, .� 4`° .�f.w t�, e'� +C- r yi4' `1'Y �. �+Y� .'� y ..y�.../ ua1. � 4 b � ':� ')�' ,�'f'r •�'i t•l� 1. S'.' 3�'.,'�� si" '�S� �1� k �.€+ 4i a Cd s' ',C e �f,.�f�a i� ��i. ��'��` rt�. f i. °it�� '°'�� V:a�::;r:' 1,, f� °%� " � E' � r��} r� .�^ �l-� .. ':�i � f. F,:��..7 a .s_#. _�': �'. �.,: :;.,., •�;�g , �- ,�'. • .'�, e , ' : , ,.S°.� rS ` �:Y! 'n�. - 'i•r�"ry�1 �'f.$ �i •.i�• •e.. a �i�. �i.' �•<� ,i,. �i :i. :��i� i �f' �.o`� i i � 3�� i�,. '°i � �•:_ - i _c ��f ^f�; � f` �� xr, '.s I'�� 'ti'a `� P q'.i:- l.»'r _ J•;, `i'= "i:ira- :t., ,u�.«�.; �°�' ..' ;3. ::. ...�. ,,y a' e,S. ;'�'' '3;i.;,v.� ��t. � � r r �� •-<. . "��`� . � .;. ,:�:�-�' t� �- +s. �'��' �'. .y=�` T a,�� :�Si'i:�'� .r r. �'i��' �ta >�., ,•. u`3 ::" � C�' . .�s.t '� . 6"• 'e`l t ""Y � .'X�•� 'S'� �{ '.'J' S::J`:: . '? .�i f� . .i' . i" , s" '�` �� i , . .:f ..�2 b . �i' . z• :£".. 'd >�. , t' ��i; � r� ' w .�i.»t �d.:�: ..e��s.,F�:. ..�; .,,: � • , •. s.� �>, � :. . . ...5:,;-�: . : : :: -;, �, ;A.,` •rx3tar ,+ �}�.j y�,;:� ��iira:.i::5.a..t:.i::"�r-r;�:v..�:iaf�+.wrbwra+rAQIHkIi�'�3fd7t��`.t�:+3xRCF+[�i:ew..a.w�:a_..�rf+w:i�iu:aM.w.:w.i:�.+:.::.L.,�..nE�«r',,.�°F".�,,......,...�..w.� r,, .� . y . ... . � 4 "tS.r 1_sY.�, �.?t�7!i�P�..S'r�"�'�Etr hF � � � ti. Tltie frea nlCeulntion ai traif�e tl�roughc�t tho stroets af t�c� Issuer ls n�aessury to thQ 1�oalth, sofoty and wolfnro of ihq inhabitnntD of th� Issuer and tho � pn�rking of mntor vehteles �n the strcota hns contributad to the cangestlan af tha stroeis ot the Issuer and haz�rds to 1t[Q and pro(sorty. Tho provision far suffinlont otf-gtrQet parking faeiIitles �nd th� r�equisition und eanstructian of udditlonnl nfi-sireet parking fnetlitfos is nece�nry far the eafety and convenienco vf the travalling pubNc und for the eliminntton af eongestlon and huzards to life and praperty. C. It is neeessary to tn� publte heatth and Irt the best interests of th� �SSUer snd the inhabit�nts thcreoi to aequire lpnd as u site for housing personne� and/ar Issuer- owned vehicles for Public 8ervlce Department uso. D. Tt�e ]ssuer deems it neaessary and fn its best intorest to provide for the refund[ng of sll the outstanding Refunded Bands, The refunding program herein descrlbed wlli beneflt the Iss�er by reductng the debt service on the Refunded Bonds to be patd from thE Pledged Revenues and �ermitting favocable revtsions in restriative covenants msde to Sondho2ders regarding the funded reserve account, the required debt servlee eaverage by revenues of the Public Ser�lce Tex, and the restrietions on Issuing Additional Sonds. �. The estimated maxtmum cost of such refunding gs ebove deseribed snd of the Projeet is $15,OOO,Q00, the actuel cost ta be determined upon sale af the I985 Bands. Such cast shali be paid from the proceeds derived from the saIe of the 19B5 Bands, " anci, if necessary, with cert�in other funds availabte to the Isst�er. An amount su€ficIent .. '�to effect the refunding will be deposited in an irrevneab�e escrow sacount established for the haiders of the Refunded Bonds, and invested in �ederal Sec�rities. The prineipal amaunts of and interest eernlr�gs from such i�ederal Seeurities will be sufficient to make timely p�yments of all presently outstanding principal, interest, redemptian premiums and f other eosts and obligations incurred �n respeet to the Refvnded Bands. R. Pursuant to Seetian 166.23i, Florida StatUtes (formerly Seetian 16?.431, . , l �. * , . : " , ; � � . Flor�da Statutes), the issusr hss en�eted the Pubtic Serviee Tax Ordinance pursuant to whieh the Public Service Tax Is levied and c��Iected an each and every pt�rchase of electrielty, metered or battled gas Rnatural, liquified petroleum gas or m�nufactured gas}, water service, fuel oil and lacal telephone service within the corporate iimtts of the Lgsuer; that the Public Serviee Tax is not pledged or eneumbered as a first lien except for payrnent of the Refunded Bonds which sueh pledge and er�umbrance shell be defease� , pursuant to the refunding herein authorized, snd it Is deemed ,�ecessary and edvisa�le to refund sa[d Refunded Bands tn the menner provided hereiR and to pledge the Publie Service Tax as a first lien to the ]985 Bonds to be Issued puraue�nt to th[s Ordinanee. The I�KL-03/13/85-5&2A-1873 Ord. 3932--85 _g.. �+/4/85 .,:. ;"�.��°� "; s,. t;�'(`��;:? � � � •– —_-~�%r^�..��,�.��5: y' °''"' .%...��. 'N ..�. 'y� . . .�'° : f , ,�� ° � M1,� _ �� :'� 5 , ' . .. ' . � . ° ' . � ' � „ L;� � �. .:-�.- � � ' . ' . � ti . .. ' , s i � "�'' = z.�y?� �_ ,.. � .� ;: � �� .^.. +�r. . .. .. . . .... � wa.�H..a�� .aa � �.sr:,�.a . -.a�..�'�.�t15��tfw.. �l ,..pay+; .:a i' �;'aK«s..r.�ti ';Y.f.,yh„`€'�+'H{„ �-5� .,... . .. � . .. ','i;eF•.:r'�-^�� ... .. 4: ..y...��:r��:*r.�`Y,_•r•^�:: ��r t^ i. . . .. . � iT..'l,;�xj: ,' . . . . � ' . . . . � ,` ' . � . r ' t � .�{:_'� , � } � �',.�%5.91�••45;�e'y.F,,.Fyr .�� l4. . . . . .1. .�,.' � . 'i.. i ',�� ' �b/.' `�F '.��yl."�t�Y. 4P y� ��aj�S'i,�'�C. yi"`7: Y+ i `r r't•� s� �}' :: :.r.. :�..oF;f�i� apii� . e" ..1.1.1' � f :],J' �p �� > �t, .t, ft�Y-v..,,'.• � v�.+ j�t,,, . ;' � i�� er F ^ ��"�e` �!' nA ,a�� f i,�{. •`,� . a° ; ^i r � ,. P . `Fr" .�F d?:1F' f ` N� ;' �` %'�. .,.� 3'.;,.lp. a��.,..,. �r�' - Y �.. i '•'s.' S`'��' :+�s� ;�t'-.' 3., .{p i � v'i ''� �•:� 3,.. � .r ta' 13i� :�- `�d� ✓r. F Fr. r.''Y. �'.�t:.. , f% . `b •7 v J'` .a� '•Jj' .,e .1;�-`•, :'€�� :� r,� .r,: r� �° +Y � . �SS �f' . . � R . •j "� +( . -�i �`"J'a. Fi':� •di�<}.�.� d„+'' :., �.:. ^s =. t:� i . � `^j � � `'r�' � . . .� -;i�r'�, , >i� ..;�'h..e� �G � .i� � `�i �.� t�5 �,a � ('� .� �_:.; t � : ya. l �' i,. t�� h, �l �}.Al f�+'�V-N'� Y-J s�,� y ,�5� lT�Pi i,.=.a sc :JZ.,r `w ..S `i' , �� •r+ .L`�� Var,?� .a� :��1' '1d4�,: ,E3i� .:{':' ''•c. �?,�1 a�. '��r, �(' .1.� !� t : fy'L :� . i' y Y 8 �4 �` C ��' :�� t 3 i:'� �� L�t'�'' i}� ��Y'. �7 f 6.� s' ''� ."i �.i.� 9i? 9.' ji -t i : .:��.; '^��: � � .5� :,5: ,S .`�. K � y .. �f� � 'i!. . ' � ��'• �: ;'�. :1� ;��' 4:+ � .��,.. t' ; �3+a . �. .�s. �3 rn��. �'F` `U .r: • `�.� ..5. ; �,.r..:LS;``,� s=� =rC`::,, .s._., f.�� tt !``��r� r" ��r�� "t'�� u; � s-.m�.;.��n' 4� .} Pa�i :,��, '�i� �k� .f �'�S� t F.� . . �.lt�.. 't'. .Sx a�. . �.F.� �:L{�C k• d "s�:"r" �Re ti . ..'r!':'� ��I'� .4:�' . "•t".a:`..i i3L .Y : y. `� ; 1r,^ _�' �} X°. t � .�. "t '� : •..r'^ ''e': :`a.'r=. .�:�� S-n (+� 't d. .f'. ' L� t £- S ''�.'-� t�: ' 7s '; :`�,`,. y:;; '';t .i ,�. 3, r �; '� .�e., oi ''� . "r�.� �%s � ".°! , a • � � � �, ." F , c+f '.�f ...,.3,° �i� �( l4� iTf. i "�Y'' '^F . : �. .f�` . C �'! . � a.{I'..i. ,Y�f• �"L�a:�. .'�tiil �. tir a%s:.S .Kt✓.,,� if. �a �3',. -?t. >:n° '�i x�:�'`=•�':'i?', ..f'�: •' t, • aa ..ia ,�`7..7:=r. �,�5 .1.,. %� ,'d� Si� '1° ��^'� r3".!:3�.,`Fin l Y7 '"4' �f� ;,,.,�� ='i'� r' .r` '�I=�� .z ... v, r .0. i'�f ,i, • t1 i �^., �i:: � .i�' ..i vi `t ^ '�!. .4. i •L �d! ,5�".". .k�� .IlyL i.l,t '.1:' .,r.. ,1:.. r F�,; _x.:1:. 1.:.�_3f'1... .T�,l �.ki� - . ��F:� S•"� �,`�� .F' ^�F' ".A�F .' � h•'.•.'":.'f.'_' ' '''S'.�'• l::�'. y �Li:u:!.�..��71rJ-1=i%��N1.��uGi �tRt� `•��' ,`f-•�Irf..w.a.s -':r.4.. ..�4e'��: � , . 3 . - '} , . . . . � � rublie Servica Tax is preaQntly pledged nnd n lier� therean is grnnted to eacure p�yment of the I�suor's outstanding �d90,DU0 Cnplt�l lmpravem�nt Revenue i3onds� Series 198d, and �netnaratar Etevanue f3ondq Scries af ifl6a, whieh pledges u�d lie�s o�re s#ated to be junior nnd mubordinnt� to all other pl�dges nnd llena to secure ather bonds. Q, The Issuer derives R� vcnues from the operutinn af the Bridge heretofore r eonstruct�d nnd nequired, which Revenues are not pledged or eneumbered ta any mnzt�er except for the pr[or payment of the prineip�I nnd interest vn n partlan �f the Refunded Bonds, whteh sveh pledge ar�d enetimbr�nee shall be defeased purauant to t�e refunding here#n autnorized. lt is deemed necessury snd in the best interests of the Yssuer to pledge the Net B;vent�es to be reeeiv�d from the Bridge to the �ayjnent of the principal of and , intere�t an the 1985 Bonds to be issued pursup.nt to thls Ordinance and other payments provided for in this Ordinance. � H� The esttmaled Pledged Rever�ues will be sufflcient to pay all af the prtricipal oi and interest on the 1985 Bonda� as the same beeome dve, and to make All other Payments required t�nder thia Ordinance. � i. The principal of and interest on tne Bonds a�d all other payments required undsr this Ordinan�e shall be made solely frum the Pledged Revenues as herein provided. The issuer shall never be required ta l�vy ad valorern ts ;es on any property therein to pay the prineipal of and interest on tho Bonds or to make any af the ott�er payments re4uired under this Ordinance, and any failure to pay the Bonds sh�ll not give rise tn a lisn �pan ar�y property of or in the �ssuer, exeept the Pledged Revenuea. J. � The total indebtedness af the Issuer, within the meaning of the Issuer's eherter, does not exceed twenty ger eentum (2Q9Ibi of the eurrent assessed valuation of all real property loaated in the issuer, and will not exeeed sueh amount gfter issuance of the ]985 Honds. Seciion 9, AUTHORIZAT�ON OF ACQlTI3ITION, CONSTRUCTdON AND IN3TALLATION OF PROJECT AND RBFUNDING OF REFUNDBD BCINDS. (A? There is hareby authorIzed the acquisition, construction and installation of ��ihe Projeet. The cost o► sueh Profeet may fneiude� but need not be limited to, the acquisitlon of any lands or interest therein or any other properties d�emed necessary ar eonvenient therefor; engir�eering, Iegal end financir� expeases; expenses far estimates of costs �nd of revenues; expenses for plans, speeif�cations and stirveys; #he fees of fiseal LKL-03J13/65-562A-16?3 Ord. 3932-85 ' ,1 -7- , 4/�F/85 ....?: =-,..� r�� -,:';;;:� �.s.-=--=; w�..;;::` � � . �. ,.�; ��..^J"��iXSt�iy ' . .. .. ' ' .. -��.�.. '�4�r-�y . � . � . " . � .. � �. _ . . . . . • .? 1 ', .'".. .� _ ° � _ . .. . . � , � ''� 1 . " -,k.i....�,.•,y�y.fr*^'4.5w.�, w�.. ..s,,..��r.�'. :rw�a , . . ,. . , . , .. �.,„� .e�,^�•.::.wa:i'^" :�?�l�+x�«x� �,-^�'•'�x �^;7'k!i3:t'.� , �.. ` t ' � • + ' � 1 T7' b " • • , }4., �� 31 . 1r .iY�: .�. .• .-kv,�(wWi'r.�rY�v^ti ;�'��:N�y ,� �..� +..' r . .! • - •3„ '� �, ^�;c,,F:;;'' f• j � •yf ir''L�>;'�° ,:� i. . q.,'wa` :�. . 'a .sw• ,y-�.,a�. f%s5��t" ;ti ��c'eq;�.. ;.<tilC'`3�"�t.re.�; ',a�.� ..�,�:' ' :.. ,5•;;.' ..s=:-v�-•a:,J.'g �.....,}: "i:� `�' g ''.S �'�,�i. ..twS:�:' '�i': .i °i.'.. �.f• ,�!•;,'.��.. t•., ."s ��y�t-i.�'..�i.:�', $'r'-SY ;;. :"t"' ��3: °]y�. .t.+' .'c .r`� f :'r� :�.d r / "�� 1i. ,d`. :5'' i.• }'t:d . i.• '..�� r �;i� 'Y. i"?F e: �,ti�..L '-ti. ~•.t s li. � `{',' '.'��.'. • y ' ' . s'. L.;: ��-.., � � � ..<k� �`i a.�i. �•'4+` y.f.. ,2�i1�= `i,!"� .r . :ir'•" .a,..l , .� `�. '�.. .q' ' �.i` ��:' -�� • �f..�`� •}'. 3'iS^ .1' wl ��.,� 'S' '.T . .} : �: Ya . : 1'.�.'' �.h.i.a" A t?• :[� i�. �i� •4..:. Y�'-. ,R� ,.` ;i, l iit� "'.#'.' J�i° 'ai'= .'✓• - >�s' c. i..-.�" ` i 'G�" .X `i: i 'f� �.t �s t a:' •.ti , �°l�'� � . - 4. 'el. „��- .�, 1 i e�rc.r.f ^ :� ! {•, 'r....� -l�''." t.t,' c� � ,�5`�`i�i♦ a.t�j.•� •.i �y •e.1 .+,� � • i• � x�. E..�� 9s:�°�'s'^P� i>:i, '.��t�: .i;.'. '.t. . �_� :! t...a��:'--'a'.3",�;� i�e� s .$ C='.�.r., ..1'.`�:: '..it E�.` �. , d p- re�n :';',.9,. s.�;•,. •s. C�,t?� d:. . �' d.�`; niY ;"i.'-�c : . � e .c , . e. :�.i. "7�'�?�°;n � �1'. �r..?,li�-+': P �i;'v ' tl��, ' : t , ' c; , d', 'S. "�i,',+ ;r:� _ 's�� ,1::. '.' f,' J.e.�i� �^ ,< S,R��•'� r. '1�'; ii`�'='�"�j�P.'' F� •y'r ,{. �.�Y{f� $r> '.-�5':,4.y��;��rl� s•, ;��z�•. �;'it;.,.z, .��;Y,. ��,'. - '1�:` n,��> .r:!i=eL�•,14�..J . tt;y,` '4!, '•4!' .��:• �'iF �"�t • � 'S. et; i� .S. ,�' � �l,:'ai. '•d'' � .i1�: ..{i.� :�;' _�.,- �:J,�, , 9� i s: i. . : •':'" �i . ,. � : ._l.•:..S.tt.�'!.',. :. _"."'...:��'3�.'.�.` '.. `:". . . .............._.. _. ... .. ... .... . . . .._ .... .�.. . . .... ... ...... . _....._... . .u....._...1'.,'�.'_ _...�..� � 0 C_'�.I �•x; .. �s� '^^-•A.'�"P7;t. _ �,'k�::e-�'�'+3! . �'A',5:.. _'e[:t� . c . ��ii........ �.Ir.'sih;:�kF'�:.'_�i.,. agents, financlal ndvlsars or epnsuitants� adminiatc�ative ex�enses relatind eolaly ta tk�e canstrucHon and acqulsition of the Projeet; the ereutian and establlahment of reaeoneblQ reserves far debt servlee; bnnd discount, ii ar�y, ortd such other costs and ax�;enses, , ineluding l�gal fe�s nnd bond Insuran�e premiums, As mr�y be n�eessary ar inetdental to the finar�cing herein n�thorized und the eonstruction and seguisition of Lhe Projact and the plaelr�g of same in operatian. , , (S) There is also hereby authorized the ref�ndin$ of the ouiatanding � I �� ' . f . ". . s. . . � , � , : � i �� Refunded Bonds. Section 5. 4EDINANCB TO CONSITTUTB CONTRACT. In consid- eration of the aceeptanee of the 1985 Bnnds by the Hondha2ders fro� time to tlme, this Ordinence shall be deemed to'tae and shall canstitute a contract between the Issuer �nd sueh Bondholders. The cavenants and egreements t�ereln set forth to be performed by the Issuer shall t�e for the equQl beneflt, proteetion and security af the Bondholders of any and all of sueh 1985 8onds, all af whfeh shall be of equal rank and without preference� priortty or distinction of any oi the 1985 Bands aver any other thereof, except as expressly provided therein and herein. Section 6. AUTHORIZATION UF 1985 BONDS. Subjeat and pursue�nt to the pravisions hereaf, Bonds of t3�e Issuer to be knowr� as "Publie Seruice Tax end Bridge Revenue Bonds, Series 1385" are autharized to be fssued in the eggregate prineipal amount ai not exceeding $25,OOQ,000. , Section 7. Di?SCR�ON OF 1985 BONDS, The 1585 Bonds� except Cgpttal Appreeiation Bonds, shall be dated as Qf a date or d�tes to be fixed by subsequent resolution of the lssuer, but not Iater than their datz of delivery, m�y be Serial Bonds, Term Bonds, or a eombin$tian thereaf; shall be desigr:ated "R- " and numbered conseeutively from one upward in order of authentication; shall be in such denominatians, shall bear interest at sueh rate or rates not exceeding the maximUm legal rate allowable by law ta be payahle at such times, and shall rriature eithar annvalIy a� semiannually on sueh dates and In sueh ycers snd amaunts� all as shall be determinsd by subsequent rasolution af the issuer. The 1985 Bonds shall bear interest from their date or tram the �nosc recent interest payment date to which interest has been paid� until payment af the priacipal sti�n. The CapitaZ Appreciation Bonds shell be dated as of a date ar dates to be fixed by subseqnent resolution of the lssuer, but not Ieter than their date of dellvery; shall be -ci�slg��,taa "Cr�i��rT end numbered from 1�spward in order of authentieation; ahall matvre on such dates; the principal smounts thsreoi shall aaerete st the epproximats annaal yieId LKIr-02/2Q/$5�5B2A-1&73 Ord. 3932-95 -$- ��/�/85 - ~ ..r~t•T °" w.l�� ... ,i...r,� ' . �•f. � ' . . ' ..: .' .. •• • ,.l% . . " ' . za '1':� �°i'^{.:.�f,(+�f',p.i�,�.•. . . ... .p. , � . ' � . . � . „ `. . :ri.i..�—.'t�:M"1Vi•� � . � "`i�. � �ln. .:M.^!'ik.�f-ri��.�,•d'.f..`f: +, .:; 'ii7t.,�. ' . . . ' . ' {. �-'�� , F;, ..y . � � . � .. _ . _' ��a ..'. . y �; ;� '�;•�I.,a :��;,,�� :-_: ..�.;e:h�; . . .:i�, ..y �,�{T'i�i+Cr�'�:�r''�.�G ,'�''Yi9,;. �} ��`�..•�..''�E.-�,J�� ' ".F;. ��.:.✓Hi_,�:..,; .:��,: -�,� � '.��h:• !'J-';� J�44'.,�_ rwr��t'.'." 6) ` <,''�.' `' :.i ` '�a : �-x�,. w .,�, 'n'. i :�. 'r'� �.i§�FrJ� -{�:.-�y" ��5;' r 'S� if' '"t" '�r.. "�' .t�. .�' ,,.�� .:'3,�`r: a`�`v';':��.s�.�:�t�� .5:° ''tc� � . �• .l:�� a(`�'. .^ . .e� . t!. �3�.1�r r. ��. x�ts. -i. ��F�:. .F ,1r.>Lr r�."1•' <1.'.•'• `C�i."4F��::-� ,Y:{'-wW ef�s 1�.�. i r't�aM " v'' �l:'� "�ry�''y `;' :�: ;r.. . :.,y":: � s� . d y�. �. , : ta='�:: ` k'� �.�re3 �z'r � ::F.a: .�e`�� i�.'��.� Si'� �,i : s�.. '� �)rL�..�`�'re�^.�d' �!.�' }g� -'° �s %�q �(,-:.i . "'ty, y �:i ^ t -:�.• � ;�tirSw�<-0�:��.a � �t i J s�j. � Ytit� ..Sb•�4 � ,RV�f�'i^. Y''i.;! ..i' i�t:��" 3 .h': �,�.ylwtifa'a ._ :.� ,��'�" A-:S. !+1=.i` � E.�'� -."jf '::i��1Sf •',�+. �.�L. � „�E�. 4�5, [.{�"k.j4'1, ' vr,{,t'�. �•J�•' .y�.Y�.: �... �f�' �`. ".�7 ,}".s y1r.�. ,1�: s..�� .7.-:ssF{P e,'a�:.�:� ,r�, 1`r�y�.3".��. G . R',ti" �t•,e:.:.':` ,-i • �'Y�' i.` .:t?�w�� . .,�,e;.'�, y;�,�. „� .;i� a� �rt ie u �^�� °4� �= '�i:� :; ' �" - ti,;'� � .t ;� .•l�i �� -:y . L�.;: c�`� ...';a�°'e: �j...�a <,> � �:.� �. �1�,� i��i�:a.'W,i.: ',�c",;�'.: �.:.�d..�,�?�.�i`j '._��.�,�f� ;�:�r u};�. �d., �r. .,y�;�� s�iti!� :r�� i;1i4�y... ��r� . ..•i.'' { :`�Fr' «,1`:°'�� Cr. , .L..�y �S `7,+.� . .........�a.:Lt �_..._Ls_'f�:X;l..fJdi ... ... .. . .... . ... . ....4.. �.�a�fi7�t��..., _. ... .•!'�:-!L•'_ ..��:: .. Y•:'! SL� .F...'�'�...�". 7 � , , �� '� . � .�.�" t"' d�1�YtrM.�i�eF.3.a�.` •,ir�t.i..ty.. .Y.�1n r��H.� ♦'�;Si.'�i�J�., ..-I.�_. .� i.l°S':��'It.". . . . +�� :>, 4viYe ..� �9.' "•S3iF (subjeet to roun8ing the Accreted Valuesi all as set forth by aubsequent resoIuttor� ef the IssuQr. Th� � 985 Hnnds ghell be issued in fully reglstered form� pnyeble us #o prinelpel nrid premium, �f any, upon presentutior� and surrender thereof on the date flxed for maWrity or redemption fhereof at the corporate trust office of the Registrar to be sefeetpd by subsequent resolutian of the T�suer. Interest on eaeh fully registered 188b Bond (except the Ca�ital Appreciation Bonds) shall b� paid by check or draft muiled to ihe person in whose name the i985 Bond is registered, ut his or i�er nddr�ss ss it appeat�s on the Bond Regi$ter maintained by the Regdstrar, n.t tt�e close of business on the 15th day o[ tt�e month (whether or not a business day) next preceding the interest Payment Date (the "Reeord Date"}, irrespective of any transfer of sueh 1985 Bond subsequent te s�et� Reeord Date and prtor to such fnterest Payment Date, unless the Issuer shall be in defeult In {�eymsnt of interest due on sueh interest Payment Date. in the event of any sueh deta�lt, such defaulted interest shsll be payable to the �erson in whose neme such 1985 Hund is registered at the closa of business on a speaial record date for the payment of defaulted interest as establfshed by notice maiZed by the Registrar. to the registered owner of the 1985 Bonds {except the Capitai Appreciation Bonds) not less then flfteen days preceding such speeiel reeord dste. Such notiee shall be msiled to the persan in whose name such 1985 Bond is registered at the close of busin�ess on the fifth (5th) day precec3ing the date of mailing. All paymer�ts shall kae made in acoordanee with and pursuaat to the terms of this Ordinanee and the 1985 Boncis end shall be psyabia in any coln or eurrenay of the United States of America whloh, at the time af Paymer�t is legel tender for the payment af puh�ic or private debts. � No 1985 Bond shall he valId or beeome obligatory far any pttrpase or be entitlec3 to any securILy or benefit under this �rdinance �ntil the certificate of authenti- eetion ensiorsed on the i985 Hond shall have been duly s[gned by the Bond Regtstrar. � Lf the date for payment of the principal of� premium, if aay, or ir�terest an the 1985 Bonds shall be a Saturday, 5ur�day, legal holIday ar e dey on wh[ch the banking ' institut�ons in the city where the corporate tr�st offIce of the paying agent is loeated are authorized by law ar executive order to close, then the date for sueh payment shall be the next succeeding day which is not a Saturday, 3ur�day or legal holiday or a day on which such banking institutions ere authorized to close� and payment on sueh d�te shall have th� same foree and effect as 3f made an tt�e nominal date of payment. 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',ro ..r;:� '-f� . v;'�:i�.�:" .°a< r1.�:'J�'..�:",.� �3:: ,?. ��G ,;fs.�:r. :'r_ ✓ -ed•� •`�:t�. s ;.r•, !� bty .sc::.x, c:�,. :•i°.. :�`., . .r,, ��,. r oe. ,. .,,,� .r; ,*z' ,.1� y?� '�`R s ..� e':� .r " �:a�,'�Q' �" v :i .�s';i�.ri 43' f�i�. '7 !f*-.,. !r_,� �,�.•,� 't:�'� r,`�' .� �f^,> ;r'� �.. �r�:^, :�•� ;: .,ti.i :,� r�,�"• "•ti... .«� ,;� ;� .'5 a .7�;i..l• .'`a�,;,`ex" t4'i '`t t .> '�✓:':.. n.�•�� .�' ..iw. °��.'"' 2. '1�' -r, s�.�i`r ��1 .� •'��1� `iI ia..� i'IM �f ;�e' a o4: `a tre. :�" .i' � .�.., [:,� f i- `s t3.> �. "•.�6: „a' - s'.o .s r r.. .�ie .J� � .»�..:� . �; �� -: • ,'' '.�., a ��+� -. 1 � � {• s� .s� .:.F:• x'.` ta°-'- ri.r .�'°: ;t.. r . i�"! ` �'i ' r. ''iV. '• a� :`3 , <y.. .. �,. �. . �9 e s�f.. � �aJ.: `�': �i �r,..t • .r ;.�: L'" 3 � . r:'Sr:tr. �,' ,��,.:.;,A �y�� .� � . Y. . t E e:,.� .!`�N�. �i�. ;'�- .f .n. i.' `J:i,• •:t.- L�:,f!" .fe•1-".=� h;° .;iii"a�.�.'m :i�4'.e `•�;47 p;;. � 'l�il:r�.,eka�.,a.its.4i�s°'i}4!.5.?iiu ` _ P :: "`.e.=S , �"•: �;'��..a � '� ` �v, � �.,�`•: •� •.�{� ,�yry . i7{+ ...,. ,:�.�i.�� - � �'�.r�etisiv:.:tii:" t ?t:^: �t,.. � �3i371 � .f". �c`•i:,:.2',..., ..,.....�..»�..::r..:�i.�..r�<.:�, �.:va� ' �' F�i.+�,W.u.w.sinSai � � r::Tf3i� .f ��t�.�,� �� '; `Y.- F i , . �'.j�, �,� ; ;'r`r�_�,}: .� ":'t�,_��. f �F:�.`� -s ,. .,j. •s,n�. - ,: ,: , , �. '. ��' .3.1.. . , eiJk �'. . :,,�r, . '�fl}, i�.i- � t.'�L�R� � � ,� � Tt�� 198b qonds (exeQpt tt�Q CnpitAl Apprceiotlan aonds) m�y bo issuad or exehat�ged for 1985 Bands tn aoupan form, payobla to boarer, in sUCh farm, with suc� attributes und upan s�ich canditions n� Ehe Lssuer may provide by suppl�me�tal resalutlans, upon recelpt of en opinlan irom u h�tionnlly recognized bond counsel that aueh lesUn�ce ar exchenge will nat aause Interest on t�e 1985 E3onds to he iricludnble in gross Ineome of the holder for federni ineame tax purposes. 5eet�nn 8. EXBCUTION OI� BOND3. The Bon�s shall be exeeut�d in the name of the Issuer by the Meyor-Commissioner und City Mennger and attested by the City Clerk� and approved 8s to form, sufficieney and correctness by the City Attorney, etther maaually �r wlth hts faestmile signature� and the officiel seal of the Issuer or a fsesimiie thereof shall be affixed thereto or repraduced thereon. The facsfmile signature af such offIcers may be imprinted or repr�adveed on the Bonds. The Certificate of Authenticat�on of t�e Bond Registrar shall ap�ear on the Bonds, and no bond shall be valid or obligatory far �ny purpose or be entttled to any seeurity or beneiit under this Ordlnanee un2ess sueh ee�tiffcate shall h�ve been duZy exeeuted on such Hond. The �uthorIzed signature for tne Bond Registrar shall be either msnusl or facsimile; provIded, however, that �t least one ot the signatc�res eppearing on the Bond�, shall at all times be a manual signature. 1n case any affieer whase signeture shall appear on �ny Bonds shall ee�se ta be such offieer before the deiivery of such Bonds, such signature or faasimile shall nevertheless be valid and suf2ieient for ell purposes the same as i� he had remained in offiee until sue� delivery. Any Honds may be signed and sealed on behalf of the lssuer by auch person who at the acttial time of the exec�tion of sUCh Bands shall hoZd the proper office wi#h the Lssuer, althaugh at the date of enactr�ent af this Ordinarice such person may not have held such office or may not ha�e heen so authorized. Sectian 9. NEGOTTAHILITY. Subject ta ti�e provisions hereof respect�ng registrstion and transfer, the Bands shall be and shall he�e all the qUal�ties and incidents of negotfsbie instrurnents under the 3aws oY the 5t�te of Flortda, and .each sueeessive halder, in accepting any of the Bonds, sha.11 be eonclus[vely dsemed ta have agreed that the Bonds shall be and have all of suc3� qualities anri inciderits of negotiable i,�5�ru,nei�ts undsr the Uniform Commereie�l. Code -- Jnvestment Securities oi the State of Fic,rida. � ' Section ip. R.E(}iSTgATION, EXCHAN(3B AND TRANSFBR. There shall be a Band Registrar for the Bands whfch may be the lsstier or a designatud bank ar trust � � �--- :.�r..�.:.�.y Iocated within ar without the 6tate of Plorid�. The Bond Registrar ahall .� � , ., - r4 . �:� 1 ,; .� LKI�Q3/12/85-562A-1873 �rd. 3932-85 �� a- � iE/R/85 � . Y"��•�� -.-�:Y~ . � � r.. 4 ' .•, ' . . �'i � . • � �i! �" • � . I � • s.F.. ? : `�^+a .,i,�,�},..y,.,.�.R `�r.,, . , . ��..f t- s .e . .if , . .� . ' . .. . ', ' .�.�: ,..H�k..+.�.rre.ra... ..w,ye.' ....�{{v . r1 .s � •�v� ��;� •�� ' . . . . � ' : .x' i..i. _ ' . . 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"I::. .,'Y': �-y �.3�`:I� .';1'^`�.1. '�!i 1�.- S�'} j't.��' S�v'° �'o' �r !,'Clt". .7:: e'' �f�. ��. ...t; P �`� 'Y r {: l� er . i•'µ .i:a..' r'.>'�'•a: "i.�3�i' 'G ' .�i �. 'i~'' �.9 •'�': �,� m�'". . .t i s T� � .a. ', ,�r.• ;'w �r� ��:, �. ..r,''' �r. .� E r ,M �.�. . .r? � 'e` �. ..n. 5 r� s t�,� �� i�Y •i" .�a �,1.:: . :Y. '�i•�.[....,r.:nr :.�. ^Ei.. .l;i.... :l.A'.i �'i!, � , .� . .7 1 .��'" ',is li��'.'.� F� �5 ��i�[ �� L k .o •'f: "i=• ��. :'! ��Li:� }.i+'4- s` .a�`i. 3;�"� :S r �r��.y`,S � " s�.4�-s��- � 7°. �i'. . ti' ' R a�a�e *`,r��,:a� i;�� .:t .�:'r. x�� l !i� >jt�flx ':�'.,l,L. ,�w, al.- •'�,�, Y�. �;.4� a'� ii: ' j y r'f� - 0�5� ' F. �. ( s .�t�' ''SF {� +� .}_ i�f '4. � t�' ,�i. 'Y - SF91'+'n "e5: YM '�'E:.s.�' ^.1�. �.�•':::�.�: ( :ry" ,�f. ,� ; .y�. �Yrh2 A �t`� . ''.1. .�r`� S �, '� ' f•: :�. , „ �s�)� d'• l y .f � .S �� af'... � �S �Y iR�� I..t��. �.�� J�'` : f. ,�r'' , �7 ;.:, j". .i.� �'S�. `�J .5� Y` x r=,� ��?`, ,?1 -x •t'.�'. �!"`.• i ` . `( t . 1:'�< ii�f��' ��¢ �. 'i '�� ,ce � i �i ..��j= .�� t, ��,� . r'.i� ,v.�; rr, r, � n. .. < � . `�t`• .•i .. . �- ,+5-' � r �.. ,•7::.' . ;< . � :- . :. . .. �: ,;a .. , � . n .�. . .' . .�. ��. . � ... . � ( . � . + f e .. . . .�.i . . , e . ,. . �. . �G{�iYl�u:t..��..�.e.,..A�.�f-i`.....a.d.l.'..�Wa.aa�xrHw�iYC1�61iliNfRkr�.w....�.._..... . ,r .. .. . ... i9�'�."• zl , .. _. . .,.��i.x..�..." . . '.�....a,•..'F:'r� .. . �..x .�tS<e i � 'r ;�;. . .. -- , ;�:: �;;; ' ;:t ' .'�k:' " t � � E''�; r• � >.:��:, v:y�hiy: �"{ .�_.�. ' �'� . �, ��':. . , �,., ��a � � - �� U . �� 1 . . �J � 1 �� .. ��., . . �M �;�. �,�`" . ; �f � ; :� � . �� • � � ,. � � malnta[n tho reg#sttatian books of tha lssuer and bc responstble for tt�e trensfer uRd exchonge of the Bonds. The �SSUer shnll, prior to the proposed d�te of dellvery of tho Bonds, by resolutton dasignate the Bond Registrar. The Hand Registrar shall maint�ir� th� books for the reglstrgtian of the trr�nsfer and exehange of tt�e 8onds in complinnce with thQ �lorida Reg�stered Publie Obligations Act �nd the system of registration as established by the Issuer pursuunt thereto. Bonds mmy be transferred upan the registration baoks, uppn dellvery to 4he Regisfrar, together with written instructions as ta the details of the transfer of such Bonds, alotig with the sociel seeurity number or federal emp2oyer ddentificsHon number•of suah transfecee and, If such traRSferee is a trust, the name and soc�al seeurity or federal � em�2oyer identificatton nUmbers of the settlor anc� beneficiaries of the trust, the dete of the trust and the name of the trustee. N� transfer of any Hond shall be effective tsntll entered on the registra4ion books maintained by ihe Bond Reg�strar. Upon surrender for transfer or excharigc of any Bond, Lhe Issuer shall execute �nd the Bond Reglstrar shalI ffuthentIcate and deliver In the name of the registered awner or the transferee or transferees, as the case msy be, a new ful�y•registered Band or Bonds of authorized denominaLiQns of the sarr,e mat�rity and interest rste far the 8ggregate principal amount which the registered owner is entitled to reeeive at t�e earliest practieable time ir� accordance with the provisions of this Qrdinance, The Lssuer ar the Bond Registrer may ehQrge the owner of sueh Bond for every such transfer ar exehange an amount sufficient ta reimburse them for their reasonab2e fees and for a;ny tax, fee, or othec governmental charge reguired to �e Aaid with respect to sueh transfer,. end may require that sueh charge be �aid before ar�y sueh new Bond shall be delivered. All Bonds presenteci far tran,fer, excharrge� redemption ar ��yment iif so reguired by the Bond Registrar), shall be accompar�ied by a written instrument or instruments of transfer �r u�thorization for exrhsnge, in form ar�d with g�aranty of signsture satisfaetary to the Hond Registrar, duly executeB by t�e registcred holder or by his duly at�tharized attorney in fact or legsl representattve. " ' All Honds delivered upon trar�sfer or exchange shall bear interest from the . , . �rP�P�I#na� interest psyment date so that neither gain nor loss in lnterest shell resttlt irom � the transfer or exettange. New Honds delivered upon any transfer or exehsnge shall ba . valid obligations of the Issusr, evider�eing the same debt as the Bond surrendered, ahall be I � . ,' � 5 � `' . 1 � �� ' • ., . � . � � �, �. i secured by t�is Orc3inance end shall be entit3ed to all of the security erid the benefits hereof to the same extcnt as the Bands surrendered. LKL-U3/12/$5-562A-1873 � Ord. 3932-85 -11- 4/�+/85 ..�..::�.�••j-�,M,, x•.,, � - _., . ..� . . - : .: �3;_ l'-'".x`"�� =.�'�=. �' � � . , . .. �.f. _ _ . . 4 ; ;::t�9s�e}�';4r..n � •- .. . . c;i • �. . �,�-i r.. ,» i "�}ua^..�r . ...,-,.�. �.ry. ��. h ' , i.' � :•f.�' ,I'`�r..�"�';�i�`�:�( +i`�' .''it't. 1` .�� Y�. .d1 :firkF, ii` ��'�vh=. '�. r`3�c . :;,. . ' t.�., ^. �a�' r' Yk „��,ie vY r•�•; y ;t�. .•;.,y;x.:. � i'F'£; �<� .43<.� r�.,. s:�i'x: ,}�, .y . , .: S:C.L . �• =i' J,_ � '-f 'si, � . U'.`� . . . }, . i.`.,_..r :y.�,. •_.� �='.'s r '�� ; . ;a''....�„ . .. . _ -. .., . . . . , '. . .... 'q...N . .. . "`_'rb.r-iiM1aMSaVr.-f. , :1• 3°'7t.d4.: q"f' . . ,..�,rKf..�t*• ,��s'w.N�'. , . " •`y � � . ' 11 t. �.� r:'flYi.r.vE4.`' .,�.�.C.�'• F¢'{�: . , .s. ., . . , . . ' ��'�ii �.5� "i; �*3%�`��d;�.3�'�`�`y��•:i', �`j �t�'- ` �'t`c, .�+'�;��9.�• .,;• r.', -3fr, :;�. •;ti.,,... .st:-.,', ,.� 4�. �!,�,�.��i: fig'S ,k4 � F.: •�.w:�� .�5... � `�. ,� .� s rti;e� �,r° p'' ' � $t'� '.f' .,.3! •t -��' n.�: < �. �r.. .f�., t< �'•i�.� 2 ` ;e, *�v. ri r: .r sr<�. ci``-.�' ��s-� �.�., :. •'�. .. ,F ; ;� '�'`• .{, . �._�}6, ° - iy ! . . .�', :l,n{.•: ' . s W �` � s ;/� ;i'`;'.��.., e �`i .� ��S` �' �' k ,4 y ::�.-_: � c':?;-•.^, :f � � . :.'�s � .:i. :��i� : ` - r r-..�::i' > V a :�ti�'' �4 ,i. ,r. 3� 'r.��<a;:, � '2 •.1!` P? t: ' J~ i ,+ .`�3. 1 �, . _l�: ��i �' e �'C' . �:�� st..t �'} ' 1 , A £ �'4, ° '.e'. ��4'' - . .3-' •si.°��'{vr.' .�s: . -`.."�.f, .�t, �'�t�° '�Y•' �.r �f_. r� 0 1N. L1: ..�� `r•s� ,.t.. ..# �: .��.:r: >rCr � �� ..i, r : f�.°i; 3 •� ^�a! .:l�: �:` �l':.'�' . r.''. °'{::`�� ':d� �"' ,�.�,`� •,�'i�.' `; �.Ji[ � ..�:; s� 3; . � � e � ' ! a �ef'` �'°4� .r '' °•;► ' .,�'. r % �'.i .i} z:<=�`�' : �t it � ' � ,P ,ra2 - ': J'� : i : � ,.�..��..a � �F,'�� ,'�+ ��';�••� 'i�i�� i't�� .r�[,� �J.<�� .i.i'...' �.•'�`9� .F'! �y :•'s�' 'w, l. :'fi. ry�i,.; 6_� ��'� i, .� ': L�; :3'5 �'t. -' Y:�r ��s+ 4'l ', i:=� Y, 1'i'�.' � v'�.. F ��$�� 'i:.� �}.•' �}V� -f.a "\i� 'C '4 "'Rt T �L ��'�.'°.'�::',�i''«�' .� r.'l !, �' °�.r::` .y ''a .4.° - .Y. �'+4 :if7 .} -�' :�-} M �,. :`�.'_�,�.." �:tir,�a�' ��t�: �.� 1.: `i;;:.• .•.�. ;.��': .,e;, `1:.�2'. r� .�z #.;}� i' .. ��y' :{ !- .g ' 5� E',3C�'�' �T.: , �^°p, �.� :F; : °i' '�� '4.r�5. �• � Y�S: (� ) .Y•^ ..f'L � J1i '.:�. xti� E °�i�' .r s � '° IS� .a:'° ,Fi.: , '� - ?'z . £ �S ::�~ ; 7 � . � .� � C 7 � P: ; 1 :.�.' '�"� �. i ' :�i . r �w^.. "k � .i: . 'l. s� ..? i^ ."t�. c 4%x�.: .. �� "i:. ,i= � �i. e� i �, �. ;_�, r�;• `i' }.,�,.. '� r��. . �'6�y'4: S� .`�n+-',4...1 ! r '___ - _ .�..'w+n..1� .. � �'�1�l�wriww�wr4iawwrMSi.µ 'rw�:*... ....<. ��. ixrs.W.�.Yr:w' � siw,« ` �iiNUWl�1:'U:Y'.'Y�w�L.T.+.�'rr: v14� � � The Issuer ar�d the Bohd Registrpr m�y treQt the registered owner of any i3ond ars thQ ebsoluta owner thereof far all purposes, nrhother or not such Bands shall be overdue, and shall not be bound by �ny notiee to the contr�ry. Notwlthstandlrig the foregoing provisions of this sectian, the Issuer reservey the right, on or priar to the del[very af the Bonds to amend ar madify tlse foregoing provislons relating to the registration of t�c Bonds by resolut�on or ordinance !n order to eomply wlth all �pplieuble laws� rules, an@ r�gufations of the United States and/or ttte State of F]oride relating thereta � Section 11. BONDS MUTILATBD, DESTRUYBD, STOLEN O� L(3ST. In ' case any Bond ehall become mutllated, or be destroyed� stolen or lost, the Tssuer may ln its discretion issus and de�i�er a new Band nf like tenor as the Bo�d so mntil�ted� des#rayed, stolen or lost, In exchange and substitution for sueh mutilated Bond Upon surrender and cancellatian of such mutitated Bond or in l�eu af And su�stit�tion for the Bond destroyed� stolen ar losfi, snd upon the hoider furnishing the 1�suer proof of hls ownership thereof end satisfactory indemnity and comp�}ring wlth such other reasonabie regulations and conditions as the Issuer may preseribe artd paying such expenses as Lhe Issuer may Incur. All Honds so surrendered shsll be eaneelled by the Registrar for the , Bonds. I[ any of the Bonds shall hsve matured or be ebout to meture, instead of issufng a substitute Bonci, the Lssu�r may pay the same, upan being indemnified as aforesadd, and if such Bonds be lost, stolen or destroyed, without surrender thereof. Any such duplicate Bonds issued pursusnt to this section shall constitute originaI, additional contractual obligations on the part of the IssUer wktether or nvt the lost, stoIen or destrayed Bonds be [�t any time found by anyone, snd such dvplieate Bor�ds shell be entitled to equal and proPartionate benefits and rights as to lien an ths source and seeurity for {�ayment from the funds� as hereinafter �ledged, to the same extent as sll other Bonds issued hereunder. � Sectian 12. PROYL4IONS FQR REDBMPTI�N. The Bands shsll be redeemebie as provided by subsequen# resaiution oi the Issuer. . Bonds in denaminations greater the,n ar� authorfzed denomination (ar authorized Mat�trity Amount in the c�se of CaQital Appreeiatian Bonds} shall be deemed � � to be an equivalent number of Bonds in the denomination of an authorized denominetion ar � MaturIty Amount. If a Bond fs of a denomination or Maturity Amovnt larger than en I � . � avthnrized der�omination or Maturity Amaunt, e�ortian of such Bond may be redeemed, in the, amount of an auttiorized denomination or Maturity Amount or integral multiples thereof. �, � LKIr02/20/85-562A-1$73 / Ord. 3932-85 -12- � �#/�#/85 � � , "'`',��,;�,","��;��;��; ;; { --w�: �:�� ,� a;�-,,;w ;'�„`r �k � . -� ,. � b .. ��;��;��,�. °�J4�r`�:�:= < `'•: � a�"�sSi;LYi'� � �'.+Y�;�'7,�F„r~-�'�'� � ;'7',� '� :re:t�i`i�v%; ,i?4:�° ..�"� �.j �:Y;,I?. .,,.;;•,� -�" dt�-z• t -:=,��'r`.�'w`.��f��,��,?3t�•, . Fv.N F ' � � � � ,�'r �E�,� a�;'�i�,t�`�, �'i,::�'S �F� �i ae� �.. ,,:; i:a �i�r(, ,�;:�: ::� 'r�R_�z^�. ;;.aj;; ;;,��_' a` `N�S �4n�`Y�� i'r�; :r:Ff..,%b � , �, ._ . , :�.l�_ : ;�`1'+�, ' 1 Vr'_`N r-�.H�`G%.�P-�s- ..' �y— _. .. ' - ' Y • ... � _,w'1 . ' ^K '� � �. . :r� ... ' � , _ � �. . � � . � . ' , ;. -, ..: � :� . . .� . � . . � � ' r r . ,�.: �,r��sr>y,,,,,, �i/�!9T{'i"txP' • �;9"�',ro1i�� .,�y�, i�` s :'a�. . u.�,. ., .. . . . . . ° ° . . . ... . . -• '.w�,;,�ST W�'1"hXfrt.`!C��'!!J.^�.+".��'s . �;d� ..�v�< , 4 .. �1 j � , .. � eu� � .E.• �-�� 4�:. t. • ii% �}�^{'�::r;e •�f ..r' . � ` "�?�. . , i'r':si;�3F.t°w;i;,� e.��;t••y�%":t: '7. �5} +S'•�r=�:�'Gi� � . . . . . '1, ,i.. ..�'�� Z.:i� t". �� ;>=' t.;: �� «1�� ,�} ',az' :o', . .1' �" s;r�,�.s::;,� '.��':�,n,:��:F^I� dz"` �'r`��3,g :f': .i:�"�};t. , .•x �.S'."'i.;'' ..7�` s'' ei;^ ^:�•.� t�:.,Cr."i"^:.'`�� :�w._ 3• ��i ;F:�;�� tr." ' c;. _rt.E-.� :s «,:�. _ � � i ' . �"N; + . . , �'r' . .i Y':.�.. •�'.6: °I!k 'sr" �'•i,'.. " .<'y"� �4. '1`. � .�';y�; F '4 �•q'f, r�rta." ,�(�," '4�j -'�'�. ^r. '<.~ '<. ..ti. >� w�r.'�P'k� ?cr �i:% 3s�� s a�. �, 2:.. ,11� �..f �C",:' ..�d�� :ly" .�`.4'. �\ �'� zk��. ' � ` .�: "s. ..ki �e�� F'..a'� �. .•'r�% . .e :�S' �)`�:� °.�a `7 'J .a.3 �5.=.. � K f•• % -"S `i': k�. .`'t '`: �! e.}�� . . i 1 : �.�fi. �; :i.� 3» . .1� �'( 4 . . �2, .r'�'° a`i5 .k.t :i �i�� 't.t� r�7i.=� s. . o ,5: �r.. ,�C',.� ^.Y�f�� .�. . �=G` t4.t � 2i. ^+.2 !�!•� . ''+°' �,e ,a . 4 >'��n � '1�°.., , ! ,fry.. ,.'W � ; �,,i • `°" .i!.��i + '�;' 4 ! :`�q w { , i,�� =�. , �! S� � '�, i �.. ta . 'C,1 ,t�. 4ir — .,; .W �a 4 4«♦ �i.n °.y"' '.liL." a� � ' t :Y�s'�, •_s ° '"t! ! i :•r �a - ai:� ;�",4' :�'. f 1 i; �" n nt� , , 4'� a ..;*(� :;� � . ,YL �,.::,,;� :=s .e�_ 3i�'sr �.1�`� �� r� 7' : r `�� c -�s:- 4' ' ,:: ,.y,, �`�; .F� � �¢ f: '.'.«".'` •r �,' °`.• .l. ? • st ��' r:.�.. }�: . a<<;: S r, : �• �� .r' is- .. ��:`� if� t +� :t:• "x.+s�z.�:.;�. �:�n � �ff:•' t � zac �'i1'��3.. "'i • "� +S.'�e' 10.51 t°i''V', ":ar'�. ��i�4,'. : r . :% ..Y3: l.9i•� �C� k"L �' .� ^ff ec� w ,i.. �� °,•a- 1�":�' �`:?t'��: vx!�'.�;>t��E.. ,�"i...� l,�< ;c� `.�it ,"4=..�'� t4.-t% �i::�._ ;'r:' r�'- -uY.`2., .i�7� .r, 'i:; �'i"tk.=k:i'q:..k4 ' 1.. `,: : a.� i : . ;�r r. x� � iag` �'r .tt t •�t !iiv : S�, f. A� . Y pe�.�.� '�j'.S F ! �'r'! ,,r .�� :i� .'e:.� `'R' r. ;• : 1'�';; ��. R;� , F.., ;�:�. $�.. 11 . �''v . . = i.. �1:•`.' fi . SY='.`: � .� .:t+�. � , : -L' `{„ 'F"=F, .v, !' .« �;:'. i'.•:,.r a� .-r. .-4 �.' ..`j.w �t:. �';l'�:`i. . C . Il�- k � , �':t , r -s: .. f: Tx � �. . a.• . . - •�'�' , � .:a,. :. 4' . S.. � �. .: � . r". y,_� � &.� 7�' . "t �'t"� � � , � � T� � . r'� .,s >.�;:. 'y� ' � �' %� � ;" -s�? . `.�. :'�� . � - '�� ° "� c.:� �� r'� �ta. .r. �. r:. H.-.,;�", .�;�; •� �-� ,.�., '.�;, `i �� .n . � '�f • .�.4' �,,".. `'�` � S -+ ; _. `i». , �'u�� .. .. . . .. ° , . . , .. . . . •t= vA _r �^: �sa^"� i`• . • . . , ., a . . . . . �e . . '.,.�.:. ' ..'.... :�. t: ,� .. . " �'-i i �. �: . .. �;, .. : . .� .W :,.' .. . _+:. � ..� ?r> . . .., . e, �. � o ° :•d. i ..„. ,. , , . . � .. .. e .. . �. �.� . :- . '•. .�. ..' � , _ . . fl. _.. tir..�_. . . 3 �._... . _ i �.Y..S...�6.. . . A.:3. .. . � ..,. ..i -. `^ �bS_ i�.:�.. . ...,..� . . _. ` . .__.. . __... . 'e ... �� .�._. ..,, _.._ � � Notice of sueh redemption, identifying the Bonds or port[ons thereof called for redem�tion {i) shdll be filed with the payirig pgents and any Registrar, and iii} shall be mailed by the Registrar, first-class meii, postnge prepaid, to e�l regtstered awners of the Bonds to be redeemed Rot more than thirty i30) days end not ]ess than fifteen f 15) duys prlor to the dnte fixed far redemption at their addres.ses as they app�Ar on the registration bovks to be maintninr.d in aecordunce with the provisions n�reof. Failure to give sueh notice by mailing to any owner of BUnds, or e�ny defect therein, shall not �ffeet the valldity of any proceedit�g for the redem�tion of other Bonds. Notice having been maiied and filed in the manner and under the conditions hereinabove provided, the Bonds or portions of Bonds sa aalled for redemption shall, on the redemption date destgnat�d in svch natice, became and be due and payable at the redemption price pravtded for redemPtioR of such Bonds or portions of Bor�ds on sueh date. On the date so designated Far redemption� notiee having been mailed and filed and moneys � for payriient af the redemption priee being hetd in separate accounts i� trust for the holders of the Bonds or portians thereaf to be redeemed, all as pro�ided in this Ordinanc�, interest on the Bonds or portions o� Bonds so called for redemption shall cease to accrue, such Bonds and portlans of Bonds shall cease to be �ntitled to any lien, benefit or seeurity under thi� Ordinanee, and the holders or Registered Ownera of such Bonds or portions of Bonds, shall he►�e no r�gttts In respect thereof except to receive payment of the , redemption prIce thereof. ' Upon surrender of any Bond for redemption in part ar�ly, the lssuer shall issue and deiiver ta the ho2c�er thereaf, the costs of which shall be patd by the holder, a new Bond or Bonds of 8utharized denominations in aggregate principal amount eque:l to the 'F , ; • • . • 7 F � ; unredeemed portlon surrendered. Section 13. FORM OF BONDS. The text of the Honds, the Capital � Appreciatio� Bonds, th� Certifleate of Authantiestian and t�e Assignment si�all be in substantia�ty the forms attached hereto as Exhibit B, with such omiss[ons, insertians and ,;-.�$rIstlons as may be necessary and desirable and author�zed and permltted by this ' Ordinance or hy �ny subseguent ordinanee or resaIution sdopted prior to the issuanee thereaf. Section i4. BONDS NUT DSBT 4F ISSUBR, Tt�e Borids ahall not be or constitute a general indebtedness of the Lssuer wit�in the meanirtg of any constitutior�Ql or statutory provision or llmitstian, but shell be payable solely from an� secured by a prlor ' licn ugan en� pledge oi the Pledged Revenues herein provided. Na Bondholdec shall ever LKL�42/20/85-5fi2A-1873 ax+d. 39 32-85 -I3- ., 4/�/85 -- ----"�� ; �-- : . _. .- .�-.��:� � � ' �. --Z::,�.......;;,.�.� ._�___,_.. ---- --- - s� � � . , � � ; ., ' . . , ,. ��r. .'a• wr3 � iuy� h.±h� � � {��r;� t.i.a. . �'�:'S��«.�ry�.7�f!-«4as��`Ka;.q.,�z:.e.�.�::. . o . ,- .. . � �„•. . 'f�, "y:}nx. ,..NrE;�y,�,�;�.,s:�a ..v ,�r..:. �.i,:.r'. . . , "j`• ., ...:rr•� ,1" r:�'� d ��.ri.,� S�L .i• ,S�j.'� ri4� Yw .J� ' .... . . � v '�� 1 i. � .ir_ p � - . I'_ ' .� , ... "�:r:'a',iµ i�. . . .. , a. , . . ' ,J.� � . I.r. '�f� i�ka •:bc-' { 'S'. , . . ' i'. ' ,ei .'��'�$'•�'rJ�ai,i`. .� ��[S` "�� i;: _ -.o '�� ''L ~t��,� •1`�i�.a S:Ie xi�: :y , a�; ' I� i. 2' l. . ie.�� '�,'Y" �y �{•..k� a :S.'�t �9 f �f �'.I`.f: � 7 :1.•; ; ,.l.�� .3:^�i. ,::dn�M } <Y' ��v Er' ;i�` ii':'l`'9 �,,' .y, ''�''... t. ��r ,�e. .< -n � r ( 't� �:t p.� '�1. ',S.�:V %�� •4i �u .i.:` :��.: 1.F" �..� l5�:�`%"�, �iA .J'.rx '�4 �',� .I�L[al'�� '1,4;= )� �1., i5� w�S, 5+^s.� •f,ev�..v'u 5`:` Y � �ah ' J " . . 1 `. 5'Y : � "f ��6. i.� y;3 y ) . �s. �j{ 3 `Yflb .��€"-' ii: .1,:. .3 '�r��.' '�5� �`1:' 1*'rf .f �� i}. '=i� 4. �t? . � y�afir. .].�. L�: �'ii .�� 1 -�F' • ,a � ��' •E,n �:i' ;.�s- �r:.�°> .;>"� ,�` � s� .,s, _.. � > .�, Yh P: .�.." ��' 1 �'!. ��4' Y. ris. Di. 7 )�•� �g w' v.'' p R '�' ..�z "�jy� ,A �;1!•� i° .l ..E�� .'s'=' . , ef�' �1., d 'v�' � •'i�. a. i � r f'� . "e ��e � �.C:'" r . 'i�' �. r:- � .�. �i',�':`•�',i' r.� :i'�. i�'. 7�.. � S t �i'�i' �rvK. �'�. ^+! ",i.• i. S:�:k �. "l� �� "p .�s. ..1'� i .� �4.�T � .t� 'f � �I ,4 t . �PJf' .•f� [' •,1 . ;�s• S ..t= 'uti ♦ �.l � ,() . ,.f f Y!� .4�. ' !: 1.'..�':� 'eki :}� l ,�h: '.�.., •s'` 3',-. ;a.�.�. `ti.• •�:; n _•r•'��; .�. .`.+t�.';,�.r .,�5.. 1�at. £ - ` .S 'n' r.'��= .t^"T 'N� �i S° ' �.:�, . . .� � �"�:. , i �.. :�.;":: ." r ; t .. y � �... �P:'�`�'! y .�.� +� t�. '.J� 4f� �., ��. r�` .r -.� '� k,� 'ji:. !. �, i�' �t�, °�t�.'1 �. � !3a� r�'.` ';x �t'� k... �F��.. .t .� 4� '.,f . `t".i '11:� s:+: ��..i��. _f' ^ •,t � � F"�y 6 e� ,+°,.. ti. ""i'�' t. `nt i � � 3"' r �' �f ' '3 .tr • � � �,,� :'t�.,�: ,��."..<', i''k�. `h .} i a,. :�.' _,d.' �e; '1'� 'y•[i� i'� 5 .i'`. ^ .i4`t _�.vt .-� � 7� ��''' 1,: �s':��: = �.,, �.� ��. �.s-` -.� ��<� i..4-.. t, �.' : b'"'ii: .ae' ''r•; L. a.=� �. Y �- A�i ki � ,�`�-ti;:. .+' ��. f . � "S! � ,, :�t ;°,e 4i','•; �y? ;{ ..� . � ��, . ..:�; tl..;�_ "�''.y,., a i� .�: �7 .r. � � 4 '°T P j}`: :.�Z V. , i'� .a1 ~ � i.'..�.-;�" 1 :•F . ,.). :..7' �1'�. r'Y�.:'::. ��YI��•� t:: - ,7 t. :C=.. .�. •.1 t ��Y.•l.`, ��.1a.•f. `Ei ra:�.M1 't. i .7�i,.Jxc{' iSS. yY� I'�4 s :.v .t :.�: C .�j �S +_'#: "�,l,�.�• ,.i' Y'�',�1� ,�:xcr ��s•4' .lt. rr, �:;4!'. �• t „V/. j +i'' ti� 'ii: ��".`.s ;r.� ,�',��.y'�J .q�5� ,g 'd •� �W`� .:4: nl�e. .I.e`, rq7'� •y• .1��".t::�TC ��fe �l�J .1� .i �.`f.�i>�• _:R •�'.'F /L�s ,`x31�t� •lIl` pY'•i� ..�``>�a'i'' •E �£-� �'t� i��:� � [3 3Li. � ,c C. t+� ,i ...1','�;s z' `atit�� t ,f`. _i:� :i:' o'i..��".f. i. %.c'w.:':,� .i. "j: w�[rc � �'t. °�� .y sl F' nn,, Y } 1' -',.5.'/� ,�y .1� Q'. 1 e'..��T•� �'l�+` .i 1 '{�=.`Y: t:+t. ..iSv} •t-... .��i .i�� .� � I (��•:..' f�l r ' �5 : "e �k � :�N' 1.:k��. i'fis_ � 1 y�..fr �4•5��.. .``� /• ''�" - q".Gi1: Y .'j::., C_ _ •'l : iNrA.`�ri�"r"._: . �. .� `., : �'r"�"��i"�i�'. �'.' �� a:w.�, .�Rt��Y ��..eS_... ':s.........e.�!:..'✓,.s��_'..}.�.tixwr.Mi3*p�4��41�'�f+��a1r..wc::xn.i-:.� �,.....a........ai.:`.� �fch��kvla..�, .m: . � �� . z . � - � �; � x • � � --- ----._ . f ; . Y ;; � � hava - the rlght ta enmpel the exeretse of the i�d valoram taxing pawer of tho lssuer ,or taxuttan !n nr�y farm of any reul �roperty therein to pay sueh boads ar the interest thereon or bo entlki�d to puymer�t nf such prtneipnl and ir�terest from any other funds of the 1ssuQr except from the P�edged Revenues #n the manner Provided herein. Seetion 15. PLLDGBD RIIVIINULtS. Ur�ttl payment hns been provided far as hereln permitted, the paymerrt of the princiP�l af �,nd interest an the Bonds sh�.11 be secured forthwith •equally and ratably by an irrevocable lle� on the Pledged Ravenues prior aryd euPBriar to all ather liens ar ericumbrances on sueh Pledged Revenues end the I�suer does hereby irrevacably pledge such Pledged Revenues to the paymet�t of the principmt of anci Interest or� the Bonds� the reserves therefor, and far all other required payments. „ Section 16. COVBPiANTS QF THE iS3UBR. Until all principal of and interest on the Bands shall have been paid or provided for as herein pQrmitted, th� Issver eovenants with ti�e Bondholders as follows: A. HRIDGE OPERAT�NG AND REVENU� FUND. (1} The entire Revenues shall upon recelpt thereaf be depos[ted in t�e "City of Cleerwater Brldge Qperating and Revenua Fund" it�ereinafter called the "Re�e�tue Fund"}� hereby ereated and established. � Sue3� Ravenue �und shall constitute a trust fund for the purposes herein providesf, and shall be kept separate and dlstinet from all other iunds of the Issuer �nd used only for the , purposes and in the manner herein pro�i�ed. (2} DISPOS[TION OF REV�NUES. All Revenues at any time remair�ing an �eposit In tiie Revenue Fvnd snall be d�s�osed on or befor� the first day of each month, commeaefng in the manth immediately following the deli�ery of the 1985 Bonds only in the following m$nner and in the following arder of priority: (a) Revenues shall first be used Lo pay the Operating Expenses as hereln defined, a�d may then be reserved Tor future OPerating Expenses in amounts from time ta tIme determined by the �SSUer. (b) From :h+� ��oneys remainirtg in the Revenve Fund, the Issuer shall next depnsit into a sepsrste acaount I[� the Revenus Fund which is hereby ereat�d t�nd de,,t�nated "City �f C3Qarwater Bridge Renewal, R�placement end Emergency Accaunt't (�erein called tho "Rer�ewal und Rcplacement Account"), an amount equal to one-twelith af aeven perc�nt of the Revenues recelved In the previaus Fiseel Yeer, such deposit to be continued to be msde ior the pu�pase of the aacount; pravIded, however, thet should #tie amount oi #TS��ODO �e an deposit in the Renewal and Replaeement AcaaUnt� the Issuer LKIr03/12/85-562A-1873 Ord. 39 32-85 -i4- 4/�/85 , , =-'�T�:;•.y`�' °�:=a�'-..� s-.e r=",:;,.. , ..y�-a=-:,.'r�`�"�n�"�i-�:i�•' „ . � �� _�: '��_ . .. � . . .. : . .• . . � � � . . . �.::; �=.i%'g..w , . . . ,. ..P!�,r,a-�� . . • ..� • . . . .�. „w,i.�y.',k.i� �. .�qq�:�ps�...o;�,... .�"t.t;.�? ,hj:,rc,, , . • . . . . , . . . . , , . �i��: . . . �; , ' . ' • . . t , ' �: � . ,iY, ,., !' �',� a� �� , es�y=t:t:�=. ,s�:. . - .i'. . . . .. . � . . , � .;;�:: „a:es';:��r:<�Mti��...y';'`r�`�p;:;.�:�:.� �A"� •�` �� . .''2';.. �f, .I,F:, ._it�.:<'{i,,i , ::t?r�'�:;�.��•��.-F'�' �^ti . . � . , _ °°�::i, w_�:. �S" .t• :�y�. a �r... °j•..- .ti� ,r' �`r ��Y�: .Et;�a.� � . �.� i' ��:ti` � �, ',i.'. y:,°. � •�5 . ' ! ' . � . . . t'.}.� I ') «+�i s'4 : \ : '.4. � '.�F�: �.. .1 , �:i >S :� . : �.', . � � ,.s"c `� ��.: til�.`� :' •��t :s. _� g� .. v.b�.'.r�' ,�ir: ` .:E, �? ��6, Sf%... �c.� 1'� ^'s t` .c i• xe 't�. ?,' F , r .t -+i:' y.r' 1's 'e!� ..Y' .L.' ::.�},. .Y' srS . Y•, � �t: :�k :F�C':, s.:a :;�., 'S. 'ra .[ � "' , �1 d,� � ! � •q �.1' ..F,e •j ,�,' � �'�.. •;j• ',��:' ;'�.`- ;�a ..� 7; ,.� ` ' "' i t LL ; i. � ;:�`:� i :..'.: �>< . , . ;��i : ',;: . ,_�t' �> � >F � �i ' , f�� r� ` � :a'� =�{` r �� .•¢ ?- � 1 t,'. St �' '.i�.i ,.1'�. t. � 'i.' . �'E' ri�'.:-'•' .if�`i •?f�; .ir.; •i'j ;�;.; . ' .�!'. '.4„ '{n 'L.".e•]'., :.�.: �:is� i�g?�,° : r:�Yi;�M ..71 . . R � ,-,1.:.i � . t a.� `�i" � i:�i' �1t: � 'i' . To,'� �Au �'C.r �'i' .rs. ..s'''�„� :,,': ,;, �x: ^:: F. -l°, �,'�,; �,.i: �4�;. ;.•� :,..<;:t: �,t,:.:�.� . i: �" '�r.�:•..1 , r.f �j�' i�'6' f.. i�`'-"¢ �.�:.•� 'a ;.7, .. j � � .!, .d:..,";.�� s� _ .?f- i. �.. '"t".• :��; �tift..•':. .''�.' a ,i � li ��. •�}. -• � �q;r ' '•'r..':.�.''.�.'..�.]:..�..__ '��K .:- :).. �:SA'; 'e �IiQ:+�wwi«s�:1w.ir:.:�s..:ti:i..i.w �...ji:.,.�":o. a........i'i,.=F�+-�ri�M�rn' ... 'a�:.;a.,.e....,. .� ..�.n:io:1::�.wir � . • , � . . � r � , .. i: j,� � msy dlscontinue stieh depastts if the City �ngineer eertifles th�t no such further deposlt Is reason�bly requtred for the pueposes of such RQnew�l nnd Replacement Aceount. T'he moneys tn the Renew�l and Replc,cement Aceount shatl be used only� for the purppse �f puying the eost oi extensions, c�nlargQments or nddlttons ta, or the replr�eement o�' aapltal assets of the Bridge and emergency repnirs thereto. Th� moneys on deposit in such uccount shall t�1�o be used to supplement the Reserve Aecount, If necessary, in order to prevent a dsfault on the pnyment of not exceeding the B�idge PercentAge of the prinelpal oi and interest ori the X98� Honds. Ttie maneys an deposit in such fund shnll be withdrawn only uppn the authorization of the City Commission and the City Engineer. . fc} From the moneys on depos[t in the Revenue Fund the 3ssuer sh�ll next deposii into the Bond �und hereinafter ereeted nnd the Interest Account, Prineipal Account, Sinking Fund Account and Reserve Account therein, tt�e amaunts required in Subsection 18B of this Ordinance; provided, however, that no more than the $ridge Percentage of such deposit allocable to the 1985 Bands shall be provided from moneys in the Revenue Fund. B. �OND FUND. (1) There is hereby ereated and designated the Public Service Tax end Bridge Revenue Bond Band Fund {the "Bond Fund"). Commencing an the first dey of eacn month, there shsll be deposited inta the lnterest Acaount, Prineipal Aacount and Sinking Pund Aeeount, each on a parity with earh other, in the $ond Fund, first from Revenues to the extent avail�Ule and as }Imited 3n $ubsection 18A hereof and otherwise from the Public Serviee Tux Revenue Accour�t, such s�lms as will be suffielent ta pay: (a) inta the Tnterest Aeeount, one�ixth (1/6) of all interest becoming due on the Bonds on the next sert�I�anntiel interest Payment Date; (b) in#o the Principel Aceaunt� cammencing in the first month which fs twelve (12} months or six (6) months {�rior to the flrst annz�al or semi�annual principal Peyment Date, respeatively� of any Serial Boncis, one-tw�lfth (1/12) or ane-sixth {1/6), res�ectively, of the smaunt of Serial Bonds which will become due and peyable oR the next ennusl or semi-QnnU�l principal Payment nate, respectively, and {c) into the Sinking Fund Aeeount, one-twelfth (1/12) oi the Amortizatior� Jnstallment required to be made on the next snnusl Payment Date or one- sixth (1/6) of the Amortfzatlon Installment required to be msde on the next semi-annual Payment Date, Such payments [nto the Sinking Fund Accountr shall be credited to s seo$rate special account for each seriss of Term Bonds outstanding, and ii t�ere' sh�ll be LKIr03/12/65�562A-1873 Ord. 3992-»85 -15- �F/�+/85 ' �r , h U �hSn .�r.�i ��:..�. �- �' .+�- �" n��`YO � • ' - ^ - -•�\�•�M' �_ �..= ��r'"„tr•.�- .�. . � ' � . . 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'�a,;�°i' �:j'�`.. `�3`.. !. .q. ,i '? 5�it' _Sy `o�:,�''' •r1: ' i�'' tij,:�:j. .-:,hi.3.L... k� i. i . . � .� ' ir,'•.�..'z�. : t..}' i��. x e� .k �.1.'� �.i. �rS.b•t�� '��Ye'�}.' . . . � 'i:��'�i i �Sy�S''�.fF�t:Y: e n{.9'3',"r�.'.� •,.;., S,''A%: r�j?. `�<4.. ��ki' t ' r }z..: �J; •, .. . , . e : 3`i.� .�:.�� ' i � l..�� .h' dM .t� :C.` l�.e ./K�, �� •5�,. ,13� '°� <'��4 ^ 't�:+�� . L" � 1 'S'i 1: , :1..: ,I` Jr. , . . :f. �.� �.1�; •Y�"��'i'., ' }'� "j i^�;•�t:�� ;9 ;:t°� � r_ ,y ",� fPo�:3� il.�r. ",°. :�F`a. . � . i."i.! ..j_ .i, r�.S� t.��.e.r:�, .,�.4 1 .`>'Y+"�� >' Y ,�y E'.w.e �-s�:,•'� ''s' ' .5:i, r}.: .,5 m.'a '6'.' � r. �:t,•„,. y ',� .e '9.. y. (�^ : i �. • s ,.i . .'i : 2➢�-'. ^';.' :7� � .�'[_. �,�4 � +yt.dall:�:��I�c, �.�'? 4 �E'..�.,,ti^.ti.r�^ . ).. �f. `,l �E � i . , �.g; � �/y� ,,. . .. t '� `'-'i,� f.� :`l• . ,. `°s�: „f. •�� `a .�t' ,# .-. �-h `y � i .e-.. � ''4,• ;•/.... .. .i"G1°y� -t. .i' �f�. `" : {. . 3 ..i i• . � _i.. ��i b ` .:} : '%'tis:`.'� . . ,�: i � � 3 . '( � T$4x� 'ry" i�i•...'u:.''. .`F .' �.s� ;i•� ^'� . 'Q �":1''�r,.., l 5 ,1. N`,.'.ii� �'i. .!'�'•'�� .d: •F#`} }. cY".�" .i+'x. .'C".i.- ,3} •'r. . . i'` .}: � :�'' -> d•:"-.`� -,� , f:. •tis � r ' t..'.' � t f. •r� .� . ''f:=:`;." �"'y .�, r � . F ; �u ..� �,.i� �.tti - ..'�.`�• . •r'"°:� �."i kr • s .' S �, i y� ,7:.� '�}'' �:1 � .JJ • h`L "�i 'S?�.« .y',• tiw S3 Y }��, :"J -�'' ' �.iJ�.�'�• ��r:,' ��.. :Y��.� :. .+• yl l'N�. t'. � .�l•iai' ! ' l . . 1.. x _ .•3 . �..4t� 5 .Y e i.in S. .r�y �,j � �..,` . � �`f.}•: 3k .�i . :.6�'i•� . �93: � � J�-l�. 6 ��=L7 ::t-�� ^': i : . s � �"1 • � , �a�..Y '.�..r'si ''i'aie � �i�7 `'�t-.• .'vi' r.e�rar-n3.`; r..s;:�ef � c •°r, i ,,� s �t s .g •T � ,t.�.,;.�:�: '� . ".: �':".°°� ' +ww.r+��v:�«'= ��, '�,,;" '' w:.��*�w+i:�rS:..at.,:i�::�r,:tu.`�..w"Fi.. ��i.__' _ ..�1':�.r{�.h�;.; 9+�.�3:.�xi'P.�"�. .a,itSs�'.:a.�.�i..iu..�.:i:S:��:�.tiu.3wi�iriirwirl� -:.,.,�_._.,.,......�..wd :�ia�„ :�:.i. �,w.... t � �� I - i � � mare than onQ stated maturity for Term �ands of A serles, thcn inta � gepnrata �peeinl accoar�t in the Band Purid for eneh sueh aepnrate maturity of Term Honds. Tha funds �rd investments in ench such separate speeial aeeaunt shall be ptedged soiely to the payment of principal vf the Term 8onds of th� series or maturity wtthin n series for whteh it is establisned and shetl nqt be avai�ble far p�yment, purehtise or red�mpttan �f Term Bands of any other series ar within � series, ar for trunsfer to other accaunis in the Bond Fund to make up any deiiciencles in required payments theretn. The Amortizst�on Instmllments rr�ay be due either annuslly ar semi-annually, but in any event, the req�[red payments as set farth above shall be msde monttrly corrimeneing in the first manth which is six (B} manths or twelve i12} months, as the case may be, Prior to tt�e date on whieh the Amortization Installment is required to be made pursuant to (c} �,bo�e. . (2) Upan the sale of any series af Term Bands, the lssuer shall by resolution, establish the amounts �nd maturities oi suah Amortization InstelIments for eaeh series, end lf there shall be more the�n one maturity of Term Bonds wlthin e serles, t�e Amortization InstalIments for the Term Bonds of each maturity. In the svent the moneys deposfted for retirement af a maturity of Term Bands are required to be in�ested, in the manner pro�ided in pAragraph (3? t�elow, the Amortlzation Installments may he stated in terms of either ihe prineipal amount of the investments to be purchased on, or the cum�lative amour�ts of the prin�ipal amount of imestmenta �eqvired to have been purchased by, the payment date of such Amortization Installment. {3) Moneys on deposit in eaeri af the separate.spectal accounts in the Sit�king Fund Aeeount shall be used for the open markei purehase or the redemption of Term Bonds af the series or �maturity of Term Bonds within a series for which sueh separate specia� aceount is established or mey remain in said separate speeial account and be � lnvested until the stated date of maturity of the Term Bonds. The resolutian establlshing the Amortization Installments far eny series or maturity oi Term Bonds may limit the use of moneys to any one or more of the uses set £orth in the preceding sentenee and may speclfy the type or types of investments permitted hereunder to be purchased. (4) � Ee) On the first c3ey of eaeh month, there shall next be depasitec� into a RPCp�V�? Aecount� wli[ch Reserve Aecount is hereby eceated an� established in the Bond Fund, from Pledged Revenues e stim equal to and sUfficient to pay the Mgximum Bond Service Requirement on all outstanciing Bonds becomir�g due ia any ensuing ,Fiscal Yenr, all or a portton of which stieh sum may be initially provided from Ehe proceeds of the sale nf tha &snds and/pr other moneys of the Issuer. The Issver shall t3�erQafter LKIr03/l2/85-562A-1873 Ord. 3932�85 a s -1 B- �►/4/B� . ,,..w.�e��`�''i 'r �:i"' -e'.. , z� _ . . , ".'i..�.�'J� �...�.w...� • _ ,' - _.r .� "�•• - , ' . :� - . .` ; � ;� � , �,�j �.t.,.�t,. ��.,1�� . r,�,..E .-�+., .;x'r�. .�, .. ` ,n. i�R. . »t.... kr '��ij.r.k!i�,��.�'�.'.k::cci£..:+� �y�• y"E.'. !n'S`3ir�"r7°r'''.�r... ,�{. .�.;y�,��"....� ..y��.�.+,e...M'r..;�'r�'vr�.§.w.� . . � . • , . . . . , . . : t� t� r �"'�!t d"� r„ � . . , . . ' . .. . , " :� '. . . ' .. �i *, , . , ` ti � 'f��;P � . ' . . . ' .. '�: ..i; � '�,.. ��.} a .'f` ��1�'�..f�.1� ��4'4. `�i' . .� :,g . Jfs �� :�. h: ',S'�'j 'rt-�I t ,�i�' a' 'i�^ ra::'� `�J o•tR ��'l.S ` � • �^e , r: ' �, rs �i ' 3. � r. • v . . r' ,� .z�. �.e.� t.: � . i�'�' "e: � .�r. °.�, C s�+� f :.fa'� ..�: e '} ',� A�� i.'[ s{� I ) '4�� t��; �f p & � �T"F�.�. � 9� ;;.; _ `�4� ` a'. �'S' j 'ia ,1�', �,:�� f-" �T �� °i.'f� i:[ , . r . ., �1 �. �`} .'97 'd :?t� ` , s � . r : i r i � ,y r.[t 4'''� iYe' �'t' � v. {r'�~ : ,V � � .4 ! . . . �I �� S � . 'M w wI .'1 Y��. , i��'�u�A'�R'' ' s � >.. ��:� � ��$. � �t '4� ,,.;�. `-;:,-tF �; �N .:t' -� :,� .;; '_,�: , s: '��: . y � ,�.S -3' � •"', �`�° �'i .A°�}. �5�� ';€�t' �.G.�ii.{'�' 'h.. d� •'� �G� �.1:'.:�:Y`� �� {S`l.`}` i•� ��, ,�; s.; ": � ,j.:: , v: o %' ^;i� ..�i. h . ..'t�' ,} j'� �.r•,.r=� #. i ' �. 9��r `�r r� .�'4r;�..,.:• .�1; r ..v',t �. '�'S ;.� 'r. -�.� ..' .t;'-�;:,•�^- .,, :.ri, a.�i Pt.., .� ' R' . ..yr.�'��:. Y . •,� . .,�} ' �p r' � F'• t.° h„ `k" 'i . ,t.. .`�� r..� ��1. �.�b :�t'.,. .,1:'.� ..k 5{ Y� � ':'ii�'' �'e�`5` i'l�v::^ a�= �'.r.:• x F� v �•i•t..:,� ..J, hi4 F' � r � ,Y, ti • �t.s •" �. `x •'�s»' 71. !.'� I 1 �' �.; V A� F� �' [ � d .`�i 1 4� �"1 S� ��i`� ,tr� .\• .{, ��5 �:�. .;r.r. `�t •.A'� i� ��. w �r�9� . � �. � tl .ii` a:4.:• �" �5 �di',.:. ,C.�� '��' S`. ��3' -s (...`�•" 1. ) ^� ::3: , t t •�. � .s� . .s.. ,,.+' , .; •p 4 ." ,�{� t � . h L. �')'J :1' �.t. ,�,P`� <S.`;�:'�°..� �`R S a•�.�:' ,}�, .'"4 :l � � r '; t. � d ' '�S'� :'a^'. . '.i L .,j: :,:t� ..G<� F +s.�, .s�^,: • , ts" pi'�:�s� r�` .f ��. } A.t �"a � '�h � S', e .Tl• : • A � ( �F' 1��4G Y.:. , v� q' � IT'••" '�i. �: i�:• T 4 i.. xi. •.S K�• 1 �� .y��.�. 'Y• .,4: �'i'� ir`i� .r' �"r"� 7' �r,' � :r � _'� .��5 „�<`� ��'�� i'-e d .i n� .�� ,i�. 1�i`)` .. . '1 'r?'. `r. rr:� vJ-,'•,.�r; � -� �x �1 �1 . .1!' .o�P =>.. ,i�' :< �r �)�',' .x ��K�.t� !4 N. � +f `-�ie� L•' ..s ,}� i i',.'rr' 1 �$ 'Y', �5 i: `•,. �•: ' :z:.,� "v..• t:' r �. � `.v��,- �•� 7 .q �4i^ . '.,^�: ='r,� :t' ef �t. :i+�:t+ �s'' .ZSk .`! . F � � `:i'.•' '`F A�;: � :,:�' ii. :�';S" � l.'.x' . E. � � .�i i.. '-�: :'i� ;.�k'i " �:'}:� :� eq� .;a . �:tf: s. .:d„;.;,t;.i. ti.. ,�.k4,w ... e.r t �.c.•e.§1!H.,�'':��.a.... .....`.��.�:`r...��:��1�'iwW�+;n�i.ty+:i:i:�ic:''�.,.,:-.:i:,:t�:.*'�...:.xiswr:�i...+::.i:a.K,.t.fd:�::_e.�',_',..tt:i'' '�"�$'�"'�°f:.'rt`b�!.�t"h•i,� �. � ;; . . . . � , �,. ,; � . , � i . j � � dQposit Ir�to sAld REaerve Accaunt nn amaunt equal to rsne-twelfth �1/12) of twQnty per eent (209r�) of thu dlt�`�rarice betweon thc� nmount, if nny, so deposited upan the dcllvECy of tha iionds nnd the amnunt of' ihQ Maximum �orrd Serviee Requiremont on all autstnnding Bonds becaming duo fn c�ny ensuing Fiseni Year; pravld�d, however that no more tha� the Bridge Pernentuge of sucit nmount allocable to the 1985 Bands shall be provided from � moneys in the RQVenua Fund� No further paymer�ts shall bo requlr�d to be madc into sueh iteserve Aeeount �rhen there hus been deposited therein end as lang as there shall remain on depostt theretn a aun equal to the Maximum Band S�rvlee Requirement an all outst�nding Bands beoaming due in any ensuing Fiscal Year. (b) Any withdrawals from the Reserve Aeeount shall be subsequently restorec3 from t�re first mor�eys availab2e under this Ordinance after all reqaired current payments into all of the accounts [r� the Bond Fund, including all deflcieneles for prior payrner�ts, huve been made in ft�ll. (e) Mon�ys in the Reserve Accovnt shall be used only for the purAase of the payment of maturing principal (including Amortization Installments? oi ar interest or� the Bonds when the mon�ys in the ather accounts in the Bond Fund sre insafffcient therefor, and for no other purpose. Upan the issuanae by the Lssuer of any Additianal Bonds under the terms, llmitatians and eanditiQns provided in this OrdInence, the paymenis into the Reserve Aecaunt shall be increased sa that the amoUnt an deposit t�erein shall be equgt to the Maximum Bond Servir.e Requirement on all Bonds outstanding �nd to be outstand[ng. (d) �Yhenever the amaunt on deposii in the Reserve Accoun# excee�s the Maximum Hond Servies Requirement on all Bands then outstanding, the excess may be wlt�drawn and deposited in#o one of the other accounts in the Bond Fund. (e) Notwithstanding the foregofrig pravisions, in lteu of tite required deposits of Pledged Revenves inta the Reserve Account, the �ssuer may cause ta be depostted into the Reserve Accou�t s surety bond or an insurance po]Icy issued by a reputable and recognized insurer for the benefit of the Hondh�lders in an amount equat to the difference between the Maximum Hond Service Reqairemet�t and the sums then on dc�as#t i1x the Reserve Aacount� if any, which surety bond or insuranee policy shall be payable tuPoR the giving of nottc� as required thereunder) on any interest Psyment Date or� which a deficiency exlsts whtch csnnot be cured by funds in any other accou»t held pursuant ta thts Ordinanae and available for such purpose, Tt�e insurer provlding sueh , ��ar�tv i�nnd ar insurance paliey s�all he an insurer whose mt�t�iclpal bond ins�ranee �olIcies LKL-U2/20/85-562A-1873 ��'�• 3932-85 -1?- 0 �+/ �+% 8 5 ., . . . � � �...—:.� —•�.�~„f.l� ^" '.- :"'�-:; � . .. _ : <r;.; �y�t. � s. - . � , . 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M {, f.� . �y' ^,�f:° '?� f. �'.S.��f 1, S" .Sr' � . . . . .. . :� •i�(' .��.':ir_.. ,�Ii . , . , i'j `°,'i.� �. a , . , . ,. � f::3:�',:��r�>=�;." ��d. i �:� a..-z .. •��.' 3S €�,',!i �,c� r� � e:. •'J � ` � �. .i., , � � 1 �� t' i ' 1� .,Y . �� 'j. `'v:' uX?A :'}•': � ''7� :" y�^a Sr. �'Stir . �.1 Sti •:f,'.'•i b� 'if: i.i�� iMe� �� ♦" � t .t`ii . '3 `."Si .�", � 'fi:'rr �','� 4::7i .'37 • L'�. `� 3'. f. 4� � p �?.^ { ' !'r z' «'ss . ) i' � . `�:t,��'• ,.� �, rr�r<. ,} jjj •1' +6 . "i t �t�" :9.L`Y t . - 1: � �✓i� 1.i "Y ay.�.,j �.ui '! . •7�.�:•` 7� � �ei �'C �^:'e. ,9: ��\' p�S,' ��5 t . M.. �' `� ei.�S. i ° ,S: ` §,..� .� x � . -,;. �'. :'e"i �... : r .. a u ,`�=. : e .tM, • A."� .�i � s'-r'�- y^ i�' �. .�. P �} S � !� � 5 � st�� '.'t.°a i.'(°'� �!'` „p„' t r .� �• r.ta �f' l�'.� [!'.Sw':i.:^.T 'i' '1, _j"Y I Il # . ,"�' ! . �.'" ' J + „'a,_:. Fi•.?•�T ,•F`' .:l��i �t:z`.'�.!1<. � S. i "t; .tii. _ ..4 '�r �'��'�• `T ` .i•: � .'# .r� t. .�i •ti 1 } ��' �i " ,r "��' �; �';:�i�Y." �S. �i � r'a' -as'� j � P ".'S' . : i 4 �..- . `i,, �' 3..`.•s'•., ,,.Ia;=. `.t: _ Aa��. e.� �s� �it 3 :s' r��5�' '°,. , ' �' : .7'� '�.' �i...�? .i(..r' � ¢ { �i � �' �:a�F . L"� . �=.i' a--`--_ . -o- . Y. , �.�'�` ''�j' .��,. <, a M�^ �)�' _.... ,�'.� . i .� . �A�� ..t :3' �' l�. . . . .. . , .. �� r<: . . .r. :�4` �` R�.. .�' �� 3 : .;'. i ;.i`- :,f�,�y�y Y•ti 1 • R . �•f.. , iu.. '.:�a . ':�'k..t- �{ : rl '' .i k.fn� _ � �Y~� r�". if„'f�ri'^`"°. 6' Y` .r `��S'.�:» ' i.. '�a . ,�° � �.4 � 'a....� � . .� �� -.. rt��, ._....�:�,::;«»,.s«r�' __ . _ . .. -- -- `iri1�:;�:�.. � a.� 5�.i,'.'ay''`av..�,..r.... ..:w...�i4+t —. /i�S:..e�w,uw� . �±�. ,•:..i. � ;: �, ,�, .�� .��.� . ��y�i � �t��x. � �� a ,�t�; � �},� f•;,• � �a��,,,�� _ . G'.�,� �t�..r -,.�', � � . Pa .,•a`� � :: .J{ i � ',r,�� r... :)`,a. • . ;'E V. , :�.� ;•1,� ,s!;r�e' . . ' : Y' S � .i � '�. �� _ ;.; : r;� ;,, rU� :, s �• ,•: � ,�: ::,,, I..RY. ,�; . � � :;is�•s : �'r �'''�� _ .•;- � �''4 °_t � � _ . ... . � ry�1�;:):E,. L'.' :;;�' P 1 9��4e �' � II l.:: ��n;? � 1 ►..!4j��,�_,: � . �:.'��`� ` . , :{ck aa:. �.';��,'� .=�.;'w�{�� r �; ;��. , � �^:: �:� <<,. ��:t• �r ,; � fr'�s�r�k � , < �..' - ''4 EY�� s k. y �,s��: e; ,,�,� , �..;�''`�"-�; . . : 4� ��; �;�e' :a-,:. . _ �.��,� i."_ s'-�` �� r 3} �� '� ��x�� ' � , �� . '��<. � 1 ��;;'�•� #;��t v7�T�j;�T� �� . ��_�� ,'*��"*��`L� : � � �� insuring the payment, whcr� du�, of tlie prinaipnl af und int�rest on municlpal bond issues results in stich issues being rnted in the highest rutir�g eategory by eiiher Standr�rd dc •�Poor's Corporuttan ar Maady's I�tivestore Service, Ine., or thelr sueeessors or nny insuror who holds tt�e highest policyholder r�ting �cenrded insurers by A.M. Best dc Co. or nny compurable serviee. It e disbursement is made from n surety bond or an insuranee polley pravlded ��vrsunnt to this suhparagrnpt� (e}� the Issuer shall be obligated ta either relnstate the max[mum limtta of s�ch surety bond or insure�nce po�tcy immediately followir�g auch dtsbursement or to depasit into the Reserve Aecou�t, as her�ln provided in thfs subparagraph 18B(4){e) for restoratian of wttf�draw�ls from tne Reserve Aeenuni, funds in the amount oF the disbursement mnde under suah palicy� or a combination of sueh alternatives. i5} The lssuer shell not be reqiaired to make any further peyments into the Hond Funci or into the Reserve Account when the aggregate amount of moneys in th� Band Fund end the Reserve Account are at least equel ta the aggregste principel amount of Bonds then outstandtng, plus the amount of interest then clue or thereafter ta become due on the 8ands then autstanding. (6) To the extent junior lien bonds are issUed and outstendfng (wh[ch subordinated t�onds the Lssuer reserves tt�e r[ght to issue), the ]ssuer ehall next apply Pladged Revenues to the psyment of principal of, redemptian premiurn, if any, and interest on suoh subordinated debt of the Issuer; provided tt�st nor�e of the Revenues shall be used for such purpose unless and tc� the extent that the junior lien bonds are issued to finenee improvements to or repleeement oi the Hridge. (7) The balance oi any moneys remsining in the Rev�nue Fund ar�ci the Publde Service Tax Revenue Aecount aiter the above requlre� payments ha�e been made may be used hy the Issver for sny lawful purpose of the Lssuer. C. PUBLIC SERVICE TA�: REVENUE ACCOUNT. All af the proceeds of the Publie Service Tax, as soon as the sarne are collected by the Yssuer, sha11 be forthwith deposited into the "Publie Service Tsx Rev�nue Aceount", hereby erested snd e�tabllshed. � Tlie Publi� Servtee Tax Revenue Account shall aonstitute a trust fund far the pnrposes . �..:, �.�, �,rov[ded, end shall be kept sepatate ar�d dtstinet from all oth�r funds of the Issuer . and used only [or the pUrposes aad in the manner herein provided, On the first do.y of each manth, Issuer sh�ll ir�nsfer from the Public Service Tax Revenue Account the � . . ' s + � amounis i�equired in Subseetion iBB af this Ordinance. In licu of m�king deposits from the :'::�'t° "-,••_^^ Tax Revenue Account into the Bond Fund on a monthly basis, the Lssuer aa4 v�.{ � a�.L , LKL-U2/2Q/85-562A-1873 . � Ord. 3932�65 ... . . ... ��.-,�.,,. �.. . � -18� 4/�+/85 i�yil��i#j'S 14... .��t• '�t' I�I °Y,'t i ��r"i �; t.� �� . _ . . ...._e�;l � ....- --��.-..: �;:a ��•�„F�;:� -•�n. w • �,. , , _. ... . � . � . , , „ �i; . *:,a �s.."-..�� - , - . , ' } . ' ' � s 'r. � ''"' Yr.' �"�' �-�. .. � , . . ' • ' . . , ' _ , . . . ��. 7 �r.� �r"�y; ; . �t;'9�="i° . '��rA�'�fy p��`�ii .sty:��,;; i .,•.�y, . ',��•�•��1�a� ;t i Y:�.ly.'a, ":. 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'; �.� . r`,'a: wqt' �..�. € ' � , �;' i 91. .�.�.ics ., t a ` t ., i , � E:",- � 1AS'� ' •! . . i . q !' 9� ./ � f l � i � fi' f.. r ""�$' a :�,**., n� ��: •`+� A Y•� �u� �i �4:. •� "1, e.s �,� Lr .:.a. �'�k :�v� -�� `�f: �. t' �E�'.,: r�t`.. < . -ri. .'s-i:::6-... � s.° .7, Me. !i?e.�a• {+.',° _ F •r {r ��A' , t �i"I . �° '.:�:.h.. y 4i �� .M' .! . �f� $. .l' 9 ,.{.� •.1.: .1. .1°r t1 �% 5 ',e� f' i! r�� '�PJ�1'� •�. f• � �'fv��F ��. '3�,i . `'f � i1'. '�1' �� .� `Yt�'�r;. y� �:� � r._ `s �f ir'. ,,q; � .��j<' . 7r`�� .� .�- :i : Er fi✓.° ��.5 � � e�: :rti'. .1�: �'�� .i:. 3't�s Ay,s ��e�� !'dl�'i..°<' K�J� r�� ',�' � °` c. :�' � r+� � � r 'v. . &': ;, . t: 'r''�;�1 1 .4:,' . s •� �..,` rti : ° •,i' i" .l' .�S» , !t• "•t...y�� '{[.,�.3 �^ �, o'r+ d-'" r.d e°r. � C 5 �,{ r'M.': � . 'Yf. :`I i j `{ s !. ':§r 'i1��iV f7'�1'�'�,' �i� �l S'r�yr '�.t'� ��n� :' �', ' : i . Y 'J a�F ! i "!.' st,� S. ��I3�.� '�I,^., e1. �� , ::�; � �„ .,.1 .t ^�;�+ : d'- +•i�, .r'� . 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V.N��J/'�Abi, v b.' � i.Lw:wi,c:.,L:�,�L..�irJraJwtr:wYH+�S,.w�,.Y.U.�4i�AY;. �.! r , f '4�'v`:�:i.9K�liFt:.iiR .a. y Y�.fiw:xLl:.G'i�M+�JR' �Nwr�+C..�r+1�.:i �`,'�fi,�r��`�F:4ffr�iy�� ia•�' ' .`.�.��t =➢.h��+"�']y�i a, �`�.�;'�1;�'r��.i�:� � '�{ ��.Ey y� �°� ` � �+..;...:..f rxx5� t-�h°i � i�$a'�. ;... t � ,g,�"�;��s�:�+�.i��,�7 7�.�F: �i, �{ � �:i��. • � �+ ' �.:.✓ , a�u.� %�:e �`�;;�i�E�ta � (° ;( �b�� '^��yE r`-}�`r4'$gi "�'�"�' :cj -' �i3?�J4 { v;� '`•i}�,�y��.+ t �.�: _��r;�'t t S '� � �. 0 �,��(rSy. ?, , �4 Y 6 v, ' . .��;a•:''� . � ,.��y,�V+tx �� S ' •y�i mpy select ar trunsfQr nu procceds of tha Publie Servieo 'lax into tlie 13ond �und as �,�:- > -s ��:r: s .:�± , � a�a � ��.f� �.��a.� ��.,�, ``��r collected u�til all re uirod dc oslts for th� Current FiseAl Year h�ve baun mude nt ��'�}��+�l�`��x�=��g�''�� •u�`i'., � � P f , . x„1.?•�?.t�;a•f��r�.?�r�t}��=Etf��17",��, .�r�N;r �;: .� . f , ;�°;�;r � ..:.cTEi . i : f" , N�:;L.';41. b .�'t1 � �.��. .;.;e: f., ::�; `; �: : �`�'. , 15, f r'�t. ,� "�.,�' . ;4,:.; �.<:. � ' ��r; :;r' �;•. F S�f�:�ts.`; • ''��'� F � SA' . 1' I,, -�J,,: _;,t;� , _�. �, , �^11��. i � .'�;''�� . ,,;��: i� -�:�a�;-��. € ��.�:';�:� I f � -,'�.',x �.: ,; r;:. ��:-;F;;�,�� '��`L�`N� ,� :,;,;r�. i ` :�, � „ . . � . ` �: � ., . , ' . �'; � ,� whlch tlme all sucl� proeoeds received lhcreufter during sueh Flsral Yet�r mny be uscd for any lc�wful pUrpose. '" D. 1NVE5TMENT OI' F'iINDS. (1) Ail �'ur�ds and Accourits estAblished and crented in th#s Ordinnnee shall eo�sttiute trust funds for the purposes pravlded hereln fur s�ch funds� All sueh Funds shuli t�n conttnunusly s�eured in lhe same manner as state and munieipal deposits are requi�ed to be sceured by the Inws of the State of �lorida. Moneys on d�posit tn uny of such funds nnd neeounts m�y be invegted dnd reinvssted in Authorized Investmer�ts� except thst moneys on deposit in the Public Service Tax Revenue Aeeount may be invested in any manner �permitted by law. (2) investments msae wlth moneys in all Funds and Aceai�nts except the Sinking Fund Account, the Reserve Account, 4he Ptiblic Servtce Tax Revenue AccoUnt� and t1�e R�newal �tnd Replacement Account must mature not later than the date that suc� moneys will be needed. Investments made with rrioneys in the Stnking Fund Account� In the Reserve Aeeount snd in the Renewe� and Replucement Aceaunt must mature, in the case of the subaceaunta In the Siaking Fund Aeeovnt nat lster then the stated dste of maturity of tne Term Bonds to be retired from tt�e subaccounts {n th� Sinkirig k�und Account from which the investment is made, in the ease of the Reserve Accaunt not later than the final maturity of any Bonds then autstanding, and in the ease of the Renewal and Replacement Aecount, not later than such dnte as shall be deterrnined by the L�suer. Any snd all income received by the %suer from alt sueh investments shsll be deposited into one of the Accaunts in the Bond F�nd selected by the lssuer. i3} The cash required to be aecounted far in e�ch af the �unds and Aeeounts est�blished hereIn may be dpposited in a singie betik aecaunt, and funds alIoeated ta the varlous ae�;ounts estr�blished herein mey be [nvested in a common investment pool, provided that adequate accounting records ar� maintained to reflect and canfrol the •;'�resiricted alloeation of t�e cash on deposit therein and s�ch investments for t3ze varfous � purposes of sueh Funds and Aeco�nts as herein pro�ided. (9) The desigr�ati4n and establishment af the vartaus Funds in e�d by this Ordinance shall not he oonstrued to re�uire the establishment of any completely independent, self-balancirtg funds as sueh term ie commonly defined and used ln goverr�mental eccauntir�g, but rsther is inter�ded solely to eanatitute an earmarking of "�"::'^ ��;,enueS, �nd assets af the Lssuer for certain pur}�oses and to eatablish certain prIortties far applieation of such revenues and assets as herein provided. LK Ir03 / 12 /8 5-56 2 A-187 3 Ord. 9932-85 -18- 4/q/85 � � '�, �'� tl . � :, `dtt-tR; S .tV':*'.�'r ` t.+a�'t,`�' i c�.?��y �;i„y:�e;iL.i�i'.;ti.�. .i'y''��3 �: f i} � ��Yf .. }'t L s. ^ � _+ � F`y`d ��' . �y.�:lf��„�: ?..E 3�:\�li� . �:.t:� _.;�`,��:; ��' � �:tid�,�'�+`�-4••'t".�1=is° .'y: i if.<��i 4e,;��„Y��`'�fv t��` � h_��:..��.�..:��.��'.�;�;.'•:°�;;�;. � at�{;,�: : � fi�� ;r ��;;. _.,, , , � $,L� }. y � ' ; ti"�4 _•=��;r`•F�s'-'_��>�. `i. j�;�v,':',i�; zi= . ::T� S : � .,Y; � � , ;;,�}{fV .j.� �,r �` ,�i ��`'r�,�.?; ` � ;�� E�? �,�; ;'1;'�:� r''"' �•' 'J=s',�i,� 2�:';�'i:.a i °�z �;e ':,�":,•n� r ��, ;, �m.� 3 �' �r�b'�'�: •:;s?i:4ff:. r�,r r �. -"!4'r�'i•,,�'� '.:� .,.SCi�A1�''..��'�� xc',q.;..�f..':yS�E4;r_ Y� •.Y:i " , � R Y ,1z� �f; v;�?e�•� s4^�" ':fT�,e (C' �Y�•. ` ,�„ ' 1 � �.�: - ;�: �s,;� %�+'�j:�' ;,�x#`�('�`;�°� . � P.�,. �' :.`,s ��,'•: g�,} �•'^ b.t/�� i ,.ftE�... `�1''t,r}�,�`'S.i�i;k,:,��_�i��? f . � �.""'K-".�^.:��:�:° �':.,,�, . •• _ . �- . . • r �.ti',xfj: w �S7e'�t . i' . � . . 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' �•'��':t' i �.Y ''i��ii �' ,j-:':�I � 'r��+� L;( ' 6 : �. l `�_� �,� � j',�' ��i � �:'�4x?. : ��:� �,. � �<,.�,��F � '�'�$:� ': 1 � �r:t:' `�;} : � y' `��'4 ��: � ":-rat:A(.e},.w•�.:;.:�w,. �.�t� � . . � n e , rr" , �� .. tv Sr.��,,y+.f w+s :..�.��p,.�..,, s� : ;., . . . .' . . � rp , . �+ 4 , ?r.. �rwa?'� :t a %ci�°4?,d'rcy*3"u��k�`,'�',r . . . A a . . _ w .� 1'� 6 . _ ' • , , ' , , . ,r. ,.�:�`•� � •. �'��'a��..: �r` tia"�f"S'��:� `'SJR��'f , 5' �� . . . ' , � 1`:i.`� .��te.' :1�r.�`r�` i�''.4;i�C� .��7�`��i�r,�� R�r.��4, ;3 � F�, , :'� :3;: :, , . . :,,:�a ,r ..�.f ��z� ��'�'� � �. ''4�'. .F. 3�' ��: . t� �f� �"i^�.7'�•F' ,4�:�� ...�.-,y�'5 j� . '�fv 'i: �a� 'ff1� "i°.:� �;:y;° :�i. .:�aa'w 'i .i.%`Y'1• � t � A, a` �S, t> ,:�t . � .r�' ° Fi a �°?s. -ifl;. "�., . '�� a ..�r �'S' 'E:,� . . •.1 � � � •z .'s .h.k..�°��:s-, ._r.r. .� :� "i . . �'c':' '�'a t� _ , ;�e :�'ie h , i ( �I: `tf.ai� . %4.i� :.is"� iY•: �(, ± ,$,� �,v .r� �il "1 � �yF t; '.3 j�s". .•Y.0 . �:..k f�.itY:: ''t:" :�s s�t ��:Y: .R ..,t' °.i't.'; , •,ir .'f�:. �"t'i .,.�� .!'.�. -�v` .). �� -i.fr !6�'.' "f:">:«, l,' .,t � ,S w.i� ..L:F':..i '��r'� 'i.., .`i` f� .� �;s�:,�•�';'I'.';� .1�� [,. �; e��• :,?�; ..e: 46� ��::." ,i'�`'.iY'.. _<c� '�d�r: .�`�'' '4C•:+e� �3. .1' .�F. I. .h M,'�`-. 'a"� �f..' i .•\ � 't:� � 1' t - :� `7`. i �' .k:`. - 'f � .0 �r" '.J a �.!3� : ]' , �1�:. �' Y ' S'i"�'rt: S • f:1-4 � Y��e .. ef � � :� , r: � . � . e `��• :`t.�9''� � ' �4'e ••.'�'f �p ..r '_�'� � � ` ' � ° �'i. :.� `� .,y: e :�r '�;N 'r"�" .ey�� . � ';�: r� S �Jl E� y, 'd° �1'. V� 4.>:^Y;... fi+�'! ..•.,s,�: r:�� .t.. :9. .;�. �" ��i',`� =�''Z's .rl4,a pt.r •,'f . t-'iK�. '��P'L -S:l� !.i" �S� � f �'.�r .1:,,� .� d' � d! �t��` . �� '�,i ^...Y:� 3� . 3. : �`. :`��'.` � .-�:>. . �.a. ,. y� ;�.t, 7'>i+f ° , ✓i ..- 4 Cr.� 1�>Yi�� kc'�: ��y. . . E,... _ �f.:r..G:`..fw:.��.:�J:xcyriM4�vLw.YwlfKii11�1�'S'x��. ��a.:.�.�..dJ...t'..u..�,.;i»i�ti..{:,..:.,��.n.��.5:",;;.n� � � :- ;� �• k�t t � �`r. I { '��iF�: ' �K�..'i;� ��€ ,��,;: . � � .�:.��''�� , a; �:�;�. { ;? � �■k sq4i. pQ �)1.�14�!f.,4 1 r r i �"�k� ��k.'f �'`f E. ]iATE�. (1) Tltie lssuer wi11 flx, estublish, malntnin end collect such to11s t�nd other ch�rges for thc usQ af the T3ridgo and revisa th� samQ from time to time whenever necessary u� wll� ulwt�ys produce Revenues suificlent to pay, as the sRme �hail beaome due� all required pc�ymQnts of Operuting Expanses and deposlts into the R�newpl arid Replaeement Aeeount, �nd such tolls and othcr charges ahA11 not be changed so as to be ineuffleient to providQ adequate Revenues fnr sueh purposes. (2? 'I'ha rntes of toils and other enarges for the �ridgo !n effect on the date of 3ssuanee of the 1885 Bondsi or the first tnstalltnent thereof� shall never be changed at eny time t�nless the Clty Engit�eer shall certlfy that the Net Ravenues to bB derivad 1n the tt�en eurrent nnci in euch suceeeding Fiscal Year, sfter giving effect to such chariged rates af talis e�nd other charges, wili either (ai be greater then the Net Revenues t3er3ved from the Bridge in the year immediately preeeding the date af such ehartge in such tolls ar�d other charges, or (b) will be sufficleht ln esch future Fiscal Year to produee Net Revenues equ�l to one hundred Per centum (1D09�6) of the average annaal amount of Bond 5erviee Requirements which wlll become due �n such years. an the Hridge Percente�e uf all autstanding 1885 Bonds. F. SALE OF THE BRIDGE. {1} T#�e Bridge mey be sold, mortgaged or otherwise disposed of only �s a whvle or subste.ntially as a whole, and only ii, at or prior to the clasing of the sale, mortgage or other dispositlon� the issuer shall deposit inta irrevoesbie escrow suffietent funds, or Pederal Securities the princlpal af and interest on whleh will be sufficierit, ta pay when due t�e Bridge Percentage of the then outstsnding 1985 Bonds and the uap�id interest thereon, to mat�zrity or tp a redemptian date, then irrevoeably exer�ised by the lssuer pursuant to the terms fixed far redemption of the 1985 Bonds, and, if redeemed, aA redemption premiums which will be dve on the redemption date. Upon such deposit, the lien an and pledge of the Revenu�s tn secure psyment of the 1985 Bot�ds, and t�e eove�ants in this Ordinanee relating to the Revenues gnd tt�e Bridge, shall be axtingufshed. (2) Subsectton 16F{1) notwIthstanding, the issuer shall have and hereby reserves the right to sell or atherwise dispase of any of ttte prope►�ty comprising a parE of the �ridge t�creafter determined in the manner provided herein to be no longer necessary, useful ar profitable in the operatian thereof. PrIor to any such sale or other disposition af sueh property, if the �mount to �e reeeivec� therefor is not in excess of Qne Hundrzd ThoUSanci Dollars t$iao,000), the general manager or otner dvly authorized offieer in ,� rh�r�e �F t!�� Aridge shall make a finding in writing, which shsll be filed with the City LKL-02/20/85-562A-I8T3 Ord. 3932-65 ..z 0_ � Y/�/�J a 4� �_��. � • �,;--:... : ,:,:,.~ � .. . , � . . _ ` --=-'��'r `�-`-�s�'� ' � ° . - ' ' � � .�.Yn� " ��-'� - —.. .. . . . � l. � �. . . T:F� _ _ _ . . � ��...... _ - _ �..�....._....,..,.. �_� ,_ `---_. _. �.��. - —. �.:� � . _ .. ._.. . . __ . � _ . . _ _...,..�... _ . . . � . : w � .�Y. h.' ..ekr.. �G.7�,'r/}yn�+4,xa�vs''nt�`+Ma�t+ry:.l'%'".�a,� : '�' . . � .e . ..�; •�r^ ,:Y,,. . �.. .,.f-�i'h;4., - w�., .t,.yt...�', , e ",.: i: . _ ., .-y�.. .. � . �.�K��•.. . � .s9;,i� . 'a�':;��`'. .. , , . � �c • ..5� �', cFtt,E�,.,f�:.�.�:t�. '�� y^�y. ;-t;,� , i�.� ' �xY ,``,��,a.' ,�2�; ,`.1' . . °ei . . . •i) 'r4`gK y �:"�'f>S*w�:i'3":,3��,�?3,;:??; , ia �.:�'?r�:�y:��?�i �x r��:%i�� ii. �r'9'+T :4y1�'i ..;: .i'. ` � I : . . . . .L'�''.`a::": r°-� t . �A'.� �J .v.�,;' �� '(1� 1} �� ,+ � :f'i'. i'� .�:,'�St'> ' s.� '"x' � x.± : ei..� , ..�.. ., i. `o . ; [';�� :,i . F ^g,3n .�h .�1'�,_ t� _ .F�.�:.iR�::. . e i::i;S�� `� t [ s.'t`i 'As��I. .�4'" ."f .i�? },' . . �' ..J�• i�. .��5? . ��f. \l43�3-i� +5 S :i' x.� i...3� •1 ,1' � 2, l'. S . .dlr� fA� . � �a. [ � � �d f. . ,.�... .� :� ' b� . -i .�+r' _ �..'�:. : r'r '�t. 4. "i'� . t� »/ , :i `�K'�:t� c S ; :n . S�' . , r +i • � . r.. •:• :<+� d , � � `[w' ,�tt' �i x, ;�s,3 '� �i : '''� it t'asc. '.'s5 -6P ^�3�V 'ar � . .�5�' [ , 4Y✓< ts � �'1 '�° ��i • �• r,. �� , •'LY :Y' '7 � `�"r�." �. C�� F / 'vi�� :rvi } � .3 .,i y�E ��'' _� ..�w . J .is �J Ny s �� 1� �:y . � .,,.:H.: ,: f , Y � �e e`i 'G' y `I '�� S. 7•' .`1. ,'C: " '�'c L'' � S. t .1, d • Jl�i ��:,.i � .�. '(+„"�.0 ;5 ��, .r': r1 �.�:,:r.. e'� ..r?i i"=' �.�y t }S. ;'e :�s"�.`�; . ti � �j1�s :4 � �� i i� l�t �1. Y� °.�l' _'. ° eC� �!' a.✓'.i � € -.t R '.j� '?}`r;� .�'S+� ro �°! r 7 � :�i � 1,a: "•Y: � D' 9 .. C �3'�� t� �+ �i 'a r. �' . }i. 'k '1�' Qi: 1 .��t `.c? !. r e '� S �� .�3 d� .2��1�:�` ^'l- ,} f .€i�.4'?Z.� «'!fio ��7� "�r� :u' ''s•� r.- 't:'.1' ,&, .�:.Er .'l3 � $. ia `��+4 .^i k:+. n^�:. -€ .f "' �-'�1i" y a �` .i', �^ .�. .�. �tE.� :�!'�a CEF. �. ,�� .s. -.i' ��.�. ��:x.: �'f- "� t�., e-. � °'w'� i^ .Yi '�1`' 1 � 'i .Y' I 1y '{ `'-r: c :�i'�};;d�5 "` °$ •a 'i. 7tE: � vT' us:=�.')�i:. •,u- :�i{,,�, ?'� r;�� 'a,�:�'' s�� s' �le �"t;r..l"` . �.e. :'i�, .�: ..Sd,�= � `rt �'t�� a F,.�c.�' .'A.. . i°�f , C� P t 'y'' .�y v � ^ �f: ', n{ .'Y.rm «r ".i�.. r� •� '�f .i:� '�' `f'+' .ir>t» •'J.�,: I. � 'I.l:`" �.�' '.•! 4 �l k".'4�%' S� ^M `� [ V. X �" a' � ,i � °ti ��. "�. ,t: 'i� �i� 1°.�::.— .f. rt..'✓'. � f �. .t �� "�;`� ,.r , , �� - , w _�.. �j)� ;: ,`" �: ;.� �P. ' 'i�� ..'n.t' tt i •� r » a° )Y �� Y�� S�V� F�' �J�. .°3 .l �,L 7 3�� t. ��€� .s� ..f��} '� "/i .�i � .. `,`ti. • y i . :asM�'� .1:. i� �f• .1" .:�. . `•:4%�� a � "a� %`;4i: . Y. � �`,'/: - .y `R ys;[% ",i, 4iC i, �� ,'L��. -�v � _ _ . ,�t7+6Marta• ..,....;...,�_ .......'.ei.'E�-�'.3'.:.w.:e.E:�e� � � A� � . . ...r.,� '�sL��&:ii.s'�er�':!k:•, ii�e.Ye�e,a ..,fr�T�'�:5� aLir.:.a.� 0 � �� Commission, doter�nining tliut suci� property eomprising n part o�' th� Bridge is no langer necessary, � usatu! or profitable ltt tha ope�mtion thereof� �nd sueh proeeeds sha11 be deposited in the Renew�l nnd Repl�eement Aceount r�nd used only As provided horein far sueh aecaunt. If the ttmflunt to be rccelved from such snlP ;ease or ather diaposition of , property comprisfng n pnrt of the i3ridg� shali be in exeess af One Fluridr�d Thous�nd no�iars �S1na,aoa)� the genernl mc�nc�ger or othor duly c�uthorixed officer ir� charge of the Sridge nnd the City Engincer shnll first mmke � finding in wrtting� which shall be filed with the City Commission, determining tnat such property comprising s p�rt of the Bridge is no longer nec�ssAry, useful or profltable ln the oper�tion thereof, arid the4�ssuer shall, by resolution duly adapted, apprave and concur [n the finding af the gener�l meneger or ,. other duly authori�ed officer �and the City Eng3neer, and authorize such sale or ather disposition of property. Sveh proeceds shall �romptly be depasited in the Renewal and Replacement Account and, to the extent n�t needed for the Renswal aRd Replacement Account certified by the City Engineer, sha11 be used for the prompt purehase of not '- more than the Bridge Pereentage of the 1985 Bonds at not more thsn the then redemption price of sueh 1885 �onds or, if the 1985 Bonds be not then redeemable prior to maturity, i . � ; � , ' ,� ,. �` , - � • . .� � � �. i � at not more than the redemption priee af the 1965 Bonds on the next ensuing redemption date or far the redemptian prior to maturity of not more than the Bridge Percentage oi the 1965 Bonds in t�e manner provided in this OrdiRarice. G. INSURANCE. The �SSUer shall exereise saund� prudent judgment to provide for tnsurance coverage relat�ng to the Briage and its operation� with oti�ers or by self�insurance, agalnst such rlsks as the lssuer deems In its best interest. • H. OPERATIQN AND MAINTENANCE QF BRIDG�. The Issuer will maintain the �ridge in good condition and eontinuously apera#e ihe seme in an efficient and economieal manner and at a reasonable eost under reasonable rules end regulatians governing the use af the Bridge and the aperation thereof. , I. ENGINE�RINC3 SUPERVISIQN. The City E�gineer will an a continutng basls supervise generally the operation, meintenance and renewai and repiacement o� the Bridge and all parts thereof� and, at thcee year iatervals, make reports a�d ::...:,��►rr�endations ss to betterments� methods of operation, and retes and cherges for the use of the Hrldge. J. IS3UANCE O� ADD1T10NAL OBLIGATIONS PAYABLE FRDM PU�LIC SERVICE TAX. Tlie Issuer shall not issue any ather oblig�tians, except upon the LKL-�03/12/85-562A-1873 Qrd. 3532-�5 -21- �+/�/85 �_�_��,y-'` :�� •1'�.� r. ' . • -- F . t , �,�' Y.,;y: � � -tii�"�'�� '�' i., a � . . . .. .. _ , ti `�' • . t� :T+�.-.: ;-� . �� _ � . � � .l � � ' ' « ''t' _ _ ~^,,: . • ' '. ' � ' r . . . �..�,�.i.1 �.A ..N' � . . ..•Y��F. . ,. .: .i..,r:A"�.....,.o,fi'+. '1��" ..�. . . C-.s�E-F�.F�.`�ht?'��.`�',J�.��✓.0.ZLr. ., uM v e.�.lv !'�' �:r .i� �r' - ,, c ` ' . � . . , � � ' . +.7 , ,.�R-�c t:�t�+i,� ✓..."'�' T. '}� • 'f'!� �.di;iy��rJ' :�t . , .1' '�� .:L' `•s'. .'��)`.' �::�L,v .r. pl�. t-.� ,��.�� ': , �^' . . "6 �� Yi:tz'. pa'' ^:� .� � :�,:�hr � :`' lAl: :Ax�Ss�'3i'� -.�� rl.. .. .3 S•.'�p'-v' -L j[ i •� ,t"` ,:I.:'� ! - 'r .;i..' ri7. i.r''�'+ >.a�: 3..1i�.:,f. - ei . ' �"4`�.. ...1'�.:'.^.� . 1 . �! y � i'' � r' '�i�'t f' . "S: � � ' ''r Y a �f . y J r, ry� f:.e `;:"„3 ' 7'`. ,.r" ;E.: r�'�if-' i�` 'r n A � '',•;:. ,�� °'�•.�� .r r�F' c�,�w<;'s. 'i:::: '� ��;; �v =�i. �•-; �a :. ,,a'�, "'rlr�;� A��SI"w:��s:a'. ",y�, w: :�� •.f. :.t� . > �?1� � !i-,;� a _S :��J:.`�C..,�•f� w�.ska�..�r ,dar?.: ��'�:�.. �a�. .7 f�. �e,, r,.*�°.+,. r � � r p �l. r � '•.r � 1•� .., . -1i' ' ' .y' 1.-. �L��.. .a;`dr '=..z :s:.`; �s°. 3q ^:�j.y. ,�y%-� `�;y.' :ti>; p; l'� y :;,-'"`;��,-.�.�� . o,i�,�}=}'�e'`A'c�� ,1 „�1 .:f,;':!`;�; ,bSy •G•i, i,l�:..:'�,Z� v�'t :�'^ �';�'�� y '�e n �4't,k.. •F °:�fi* ;�s..,ai.,.�`� .�S,ir's�?i�".", �."�� :}Tr .ti-�.. .z.,s�..fi•.,F.� :'x` r` =te,a- :�z�: 4t�'.• .�Y;� r t.ti�,.,.•��.r �•�: b��..r`�:•a ltr � i"S-^�� ° �'t "^�Z�. f:: C.° ' 511�' a•I.. :�;ta^,1, ».I." .ai� r � )T�. �:#� � :.k�,f- i4'��;.p,.. ' f�.rl.[ . e{ ,?.:'C'�:Y,�.. ,�r,• .�a.,. ,-i' s `1� i 'J:'.�'2:` �'� ? ..s..a.x�r-�'::�;"1'F f 'r':9 .�f�„ YF+" �. .F �.jbi '):r �' ��"e '4.�..� .:1' �2'.J.-,5"`.',•;�� .� �L��,� ,..t. .r.t. .'f..��" ^Y:. .�3+,.. -'J�' ��C:c" .I'��. -ti�.e.' .a,s:�� .s""-� ,�� ''S � z,�' ,.��. w.ve. 't A <�. �V 1,...• . i''w . f''.q ' ��i, ' ! -.,j;:: «a.8 .;;t':2�,`i1F`;{.a,+i.�r' FS," 3�5`=�� '�,��'.�s.� �'� '�r",�,r� �!':'-t�. .`l�:: .J.,r. �.C`.1�"' :.1, ,a �r,'�':� i i.�. '.E;. ;i; _ . ` �F::, i tl �"�' : �'. ',��. q �ss�..±,•„ r,�. `y ..f� �.... ',�a t .a. �':' ' '`L'`' .6"a • . +.,^`'.. ,i�, r,': _ �'1,��'`. W'�1 r'�:"-':?r ',16....1, •.C: j•.• :��" ,)'' '•tlI '•4 . t.�E Y d`�L: 4'�. i'. ��`� . .1's,...,.�, c----��<._ _. , �___�a,..._. ,�``,'• �, x,.�.e_..--- .. ... ,. _ _ �. . . .. ,. . `Ef'�,' .''t�.-..�ti..'.�,�„��.._...a��...,.e.�.�'a`� _5�..�,�.. - . �...�;i,�;y:��aL,:,,.�.�,.� � - -- � � y � � . .♦ �. r ♦. . .».� . ..,`Y'1+.0±��4I •'.GS�� • _'. '° , � _. . , .. . . _ , .L .. ,"af ..� r.xe.ki.. candltions And in the mariner provided in Subsectfon 165 of this Ordir�ance, psyuble from the Public S�rviee Tnx, r�ar voluntur�Iy crer�te or eaus� to be created any debt, lien, �rZedge� ussignment, eneumbranre or nny other charge hav{ng priority to ar being an a parlty with the lien for pQyment af the 1985 I3onds, upori ihe Publie Serviee Tux. Any other obl�gations lss�ed by the lssuer, in additfon to the 1985 Bonds �nd Additional Bonds provided in Subse�tion 16S below, ppye�ble from the Publfc Service T�x, shall conta�n an express statemet�t thnt such abligations are junior 8nd subordinate in sll res�ects to the 1985 �onda us to Iten on nnd source and security for puyment from the Public Serviee T�x. K. aSSUANCE OF ADDITIONAL OHLTGATIONS PAYAE3I,� ��tOM REVENUES. The Lssuer will nat Issue any other obligetions payabte from t�e Revenues nor voluntariiy create or rause to be created ony debt, lien� pledge, assignment, encumbranee or any other chArge on the Revenues, exceAt that junior lien bonds n�i�y be iasued to finance improvements ta or replaeement af the Bridge. L. BO�KS AND RECORDS. The Issuer shall kee� books and recocds of the Revenues of the Bridge, and of the Public Service Tax receipts whieh svch baoks and reeords shall be kept sepsrate and apart fram all other books, reeords and sccoun#s of ti�e , Issuer, and �ondholders shall have the right at sll reasonable times to inspect ell records, aeaounts and data of the Issuer relatIng thereto. M. ANNUAL AUD1T. The Issuer shall alsa, et least onee a year,�cause the books, reoords end aeeoUnts relating ta the Hridge, the Pledged R+�venues, and the Funds and Accovnts established hereunder to b.e properly audited by a reeognized indepe�adent . firm of certified �ublie accountsnts and shall make generally a�uilable the report oi such sudits ta any Bondholder. N. ANNUAL BUDG�'I5. The general manager or other authorized officsr r .l � 4 . . l..._ _. �, . � �s ' , ,�� ' , " i : �: '.�� .� . . „ � � .� , ` � .i. of the Lssuer in charge of tt�e Bridge shall� annually, at Ieast thlrty t30) deys preceding each of its Fiscal Years, PrepQre s budget of the estimated expenditures far operation and rnaintenaace of the Bridge dvring the succeeding Fiscal Year, which shall then be adopted by the Issuer before the same shall beeome effective. The Lssver shall make avail�ble such budgets ar�d all ordinanees authorizing increased expendltures for aperatio[� and mamter�anes of the Bridge at �ll reasone,ble times to �ny Bondhp�der or Bondholdsrs or to any ane aeting for �nd in behalf of such Bondholder or Bandholders. �. LEVY OF PUBLIC SERVICE TAX, The Lssuer will not repea2 the � ordi�anees now in effect levying the Publie Service Tsx end will not amend or modify safd � uruiursnce in any manner so ss to impair or t�dversely effect the power and obligation oi �� LKL-03/12/85-562A-1873 �]rd. 3932-85 �22- �/4/85 ,.�;.�: s V_� : ._',°i ` ' , , Y;;'.'r`%+�'`.�'��-:'" ` - _ .. . ... � , . _ ., . � � .. " - =-i ��:�;"'• �� ' ... ' • �., -.t.�_ -I�� _ � � _ . , � ' , � - . � ` ' 'i � � . ., ,. -• `� •: . � , � . , . ,�-y . --a.�-r'wwe.�.y�k::0°e?r;�f•.�r.,,.�. ,.4.r,.�'o;:4. w.�C..e.:S A•±i�'c� .. ' : � � �: •lf�� "'.4:�l� � ,�. _ ... � .� � . . ,. . � - � . . . ' ' � ' . ' . . .. , ., . °. • . . .. � ' °. .�' ; . . - . � ,��J '.F � ��1 a, . '.ri�i��, ✓."ipi 'ti�, ' , . . 1 . .. � �:. ; � ��;� ' :.i:..:�15•,. : i. �e."'�' ' :'�::s '�'a�i t'L� �i' %+�°• •��.:4-- -' 't' �t: 'i� 4.;" ::i�:°:` ;nl;�,:d��.' ,�.'. �r'..t �i, �•. "4', .e. . •3 ,'i ..f�:� �.+,�•.. .Y v.A�`�F ) aL'.'..::�' '(>:t!,.....(:; �=1. �1_.��,�`a . :tt�. �.(e.`.yi.".�"iy��l� s,, F':' ,�;:.�1 ,r�`=,•,. .a� .;'v, .'t .'rT]i :k � .S�'..� C ` h�'.P � � "' � l�a a '`�i ° �.� . � .'i s A`=.�...' }.\' • .�1.� . '.°{,'.��[ih � .4ti� .� F•i 7.: .�i 'yE' .y�€:?�$.:��: ''i. ^.�4.�:� f i � i .�. -'�P�S.'�`�.,.;�i...�•a. F �t,i:tR x.. E.��' �•� .. .�`�° ��. ;�-. ., �a� ..f�;• ;��^ .:a . �„ :- �€t. J -t .4 ;, :� •r): "'�,,' : �- ;�' ��<;'.�� . �x 'c`� �'(1,.-.� �•�yuY:;;;.. .F;..,•��> �,� :o ��1 °� 'i� S•, e1' :i` y` . '��j,�:a:.�c�r;, �•�. �Ii . . . ,�;.. ,{.:'.F i.y`�,.e. '•k.' '�. J.x^> �f.• . .ssl��j'.r• f• .. =i�•�e'= 1. -T' .SF �t ,r�E. �.. f� F' *��"i,' �� '�' '� � ` .at � :'i_. t` ��;' . i -1� ;.' a •1i .1�� P' �Y� �i�°:�:.,� :� ; �y`� `1i, .�i,.- w.i .�A :.'S 'k iY �i.A' f i '�r: �4�' .i� :: .l :'i' �`.. ,� '�� ri x° ��;7. 1..° .`�y 1°: ,f ,.,�, `�' adl:. :t'`�> di-. °�t's- ,s' =r. °t ca� ��Y. :(•. .Y•. ��:�� J:� :1:•= .}�':a�, �v:..a.K �.s .ie �n: :i' �`i: x 'b( �� .s�� ;� '��" !> '�. 7� `c. ��., '.�'.� ^.'z� ef� �`!`r', .a � v 's'.E� ..i.c '�t' 'S�:° ;j., Y z y "i'' �[', $ •^x �'�.`.�•��.'i'j, .4i�U'' ..r: =oC�. �x1' 'i`�%�:'7 � � � 4� ^:` ?.? � a ;'i, s - s `.'.!= a ..!'., v � o r•:�,'c ,� . ir>' +.-i. :ta � .'�.�: .�Pr'� ;��; . :it �sS.:." e.,t i: w { . r " .' �f %� -. � y� . �i �.; ' zz' -_ �. { , �: k' .'7 �.5�`� V�' �� ' d ° :�i.0 Ss ` ' � L. . '" " ' .' r... � . , ...�> �.: • . , , b . ,' ,�` e � . .. . > ..,� :,..,, • J s' �:'sir, ri: . 6s� ''e ��.` ' ..✓' ;' �L. '1: y '.i.` is �� ` ,.} ° ` rh..,' ,�''s:i.. ..i�.- 5� �.;�.`�ys�v .1.,�:3...}:: "_i• 'EY `.: °. :t e r".. 4 t z.f: .�.1 � L. ..�r�'., . Y�4.' r�.v� e .i 4'. )' �'.f.�- � ) �1i'd �iI wi'.�aa '�� .'(''� -��<�� { .t� i o�S".%' 6�� '�'!.� ��f��, ,2.. `.6.� ':�' •.!" 1�"f F'[%y:�tA. �f� rj'•�.;.. .,t+l. "�i.'�^,^:.-. P�i.,4;'9• C. .4 .Y. ��6.�,.�: . Y��.t ,�.R� , ,,i' �M' �:l' � sU. r�, 7� .h:i,•. `'t!� �- ;t; h�. •,e 't_ "'�ia ►�'r�� 'i;.. ..c ). ar'`'� ci�";•.., i1 ~�. .;.�,�'�:� 1; ,5.; -.#,s - •':.:: ,�;`.�; , :'�v..{'.�, J �'� ^ .Srv.rxfss.s'i�1�~..r.-.r.:r+ww�� .s`x.1.��.,u: ir.i:`:..:�°.i.:o•,.:;+a'. .:..x:r�' �'ir.�t=�: � � the Issuer to levy and aol�eet such E'u�lle Serviee Tnx or impair ur adversely affect dn nny mnnner the �ledge of such Public Serv[ce Tax mpda herein ar the rights of the holders af th� Bonds.� The lssuer shnll be unconditionnlly dnd frrevocubly obligated, so la�g es any of the Bonds or thc interest thereon arc autstunding snd unpaid, to levy and callect sueh Publie Service Tnx, at the maximum rt�tes permttted by law, as wili always provide funds in any �'iscal Ycat� at lepst equal to 135916 of +,h� i3flnd Service Requirements beeomJng due in suet� Fiseal Yepr on the Bonds and 1009�6 of �11 raserve and other payments ta be made from the Publie Sprvics Tnx herein. This provision shall not be construed to prevent reasoRa�Ie revisions of the rates of sueh Publie Service Tax as long as the proeeeds of such Public Service Tex to 8e eolleeted by the Issuer in eacn Fiscel Year thereafter wiu be sufficient ta meet the above requirements. P. PUBLIC SERVICE TAX NOT SUBJ�CT TO REPEAL. The Issuer has fuII power to irrevocably pledge such Public Serviae Tax to tt�e payment of the prinelpal of and interest on the 8onds, and the pledging of such Publie Servlce Tax in th� manner provided herein shsll not be subject to re�eal, modlfication, ar impairment by any subsequent orditiance, resolution or other proceedings of the governing baay ot' the �ssuer , or by any subsequent act of the Legislature of F1orlda. ' Q. ENFORCEMENT OF COLLECTIONS, The Issuer will diligently eniorce and collect the Public Service Tax herein pledged; wi13 take steps, actians and proeeedings for the enforcement r�nd eoIIection of sUCh Publie Serviee Tax as sha�l beec;��e"delinquent � ' i ' • 1 • to the full extent �sermitted or authori�ed by law; and will maintain a:ccurate records with respeet thereof. All su�eit Public Service Tex herein pledged sh�ll, as colleeted, be i�e2d in trust to be app�ied as herein provided an8 not otherwise. R. REMEDIES. Any Bondholder, or eny trustee acting for the Bondholders may, either at law or in equity� by suit, aetion, mandamus or ott�er proeeedings in any court of eompetent jurisdlction, proteat and enfarce any and all rights, includtng the right to the appaintment of s receiver, existing under the laws of the State of Florida, or grsnted and cantained herein� and may enforce and compel the performenee of sll duties here[n required or by any appllcable statutes ta be performed by the Issuer or by any officer thereoi. Nat�ing hereir.� howe�er, shall be construed to grant to any Bandho�ders any Iien on any reQl property of the Issver. S. iSSllANCE OF ADDITIONAL BONDS. Additional Bonds, payabie on a parity from the Pledged Revenues wIth the 1985 Bonds, msy be issued for eny lawf�l ��urpose of the Issuer, but only upon complIanee with ell of the following e�nditions: LKL-03/12/85-562A-1873 Ord. 3932—@5 5�3:7 4/�l85 . , ��.�:,�.. .-��., � _ , . , �t . -; -..,,.:.: ..:� :',:- ._ __ .• ' .. . -;r: _.. ��_ e • , � ., ..:'' �'. � �•x;�".•'�a?'.•?;„�' a't:r"�;��,'.,.,"�,.."!':j��'•'.��v��;Z�� - •.�= ri" .. ?��M3i � . .' . ,� "�:`s� ,. ' , . , -i' i�S:,'�:-�r�„:�'.:,r��r,.`.�.��;"•�;S"na4� .. , 1 �M1.r.e�e. e�<.l�i"'�b.�T.�:f;.��. � �:�,� • . .. � � =•'i.' � ' >.� . �? �''r.:r.'' �;°' � .,r:� . ,. ;� . � . . . �,:� f::�� . ,y :;:�e,; ��; :�.r.:,..,�'� �.:� . s � � �.i.. �T�`,�.'�:: •'�' , '1 .. a' : �; ' ..i? �i. � l�•:.�:qi4'4� . .'�'� :'r' ,:}`;-'^. �R .a ='y ,a1'�� ,'� . : i ' . .t .;' �{,2.'� r'.q,�,`:,- a. ;s• .v .� �`' sr f �" , .3.'�s �.w,ri.. �b�Y. � � ; i `a:;.� .'T4� ?ir � r 'it� v,.i r' .� t'xt� � a �!i. i 1 '•s ,:� . '� .b . �y .P �! 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' ;�J �%i��,r ��'��: i' � 1 �1.:�• YT :4r<k„ 'S={: �� ,�(:• �.�A,� �id�p„^o e /T�p � 'r. y'c°,i.``�? a�, .,�' :s'`.•: �,�.r•. ,�:.� ."l 1F.°o �s`� 1•i'- r� •�h.�..,4.' :1..,�.: �,�: °r'a ` i�� - .�t :.1� , h' . a...... s .Af:n k.f. ..�, :az£.,r Y�Y .�' -. {F , �� "'�r5:i'�;v"' . �• ''_ �+`t.�� _ ;,.r. -: `•' � i:: ..'�;: `.,... , . .... � .,. �.. .�.A, - �p �, ky . �. f. -�3%:wif.iiri�J �L.t. s - ��..�..:i«rliA.ii".��iiM YC=•-" -_'�L:.:..r:4: S✓?-:s."'i.. Y._a '+ f: °:�s�.� . �:�re :� � �:s { 3., � ��t'. :�.: ; . � E:. �(E�� • :.: � F6;. �1 t !.i t � f� �� . - , .. ' . , . . .� . � � i -_ i i • ° ' r 4 • ` f . �� a � � � (11 There shu11 have been obtained and f#Ied witli tha Issuer a eertif[eate af a qualifted nnd reeogntzed tirm af independent eertlfied publle �crout�t�nts stntings ia) ti�ut the bnoks nnd records of tho lssuer have bean Qudited by sue� firm; �b} the amount of tne Public Service Taxes received in t3�n Ftseal Yenr preeeding tho date of issuanee of the praposeci rldditional Honds or for any 12 eonseeutive months during the 18 monii�s immedintely preeeding the date of the issua��ee of the Additionpl 13onds wtth respect to whdeh �uah certificate is made, {e) thnt tf�e �mount af such Publie Serviee Taxes, for the pNriad for whieh such Public Service Taxes nro being certif{ed is equal to not less than 1359�6 of the Maximum Bond Service Requirement �ecaming due in any Piscal Year thereafter �,n ii) all Sonds then outstanding� and (ii) on the Additional Honds with respect to which sueh certificate is m8de. (21 �ach ord#nenee or resointioa autharizing the issuance of Additio�al Bonds will reeits that all of the cavenants herein cant�ined will be applieahle to such Additional Bonds. � � (3) The issuer shall not be in defautt In perf4rming any oi the covensnts and obligations assurnec3 hereunder, and ell payments herein required to have been made into the Accounts and Funds, as provided 3�ereunder, shall have been made tn the full extent required. T. APPLICATI�N OF RBFUNDED HONDS FUNDS AND ACCOi]NTS. All moneys in the Funds and Aecaunts created by the ordlnances whi�h authorized the issuanee of t�e Refunded Bonds may� in the dIscretion of the Jssuer, be transferred to and deposited ir� the llke funds and �ccounts created by this Ordina�ce or may be used by the Lssuer, in whale or in part, to effect ihe refunding of the Refunded Bonds, es evider�ced by a certifleate of the Cxty Manager direeting such transfer and use. All Punds and Accounts created by this Ordinance may be held by more then one depository in the dfscretion of the Issuer. U. PAYMBNT OF 2985 HONDS — RELEASE OF REVENUES AND BRiDGE COV�NANTu. Upon Paymer�t of all prineipal of or interast on the 1985 Bonds� or provision for payment es pravided herein, the lien on and plec�ge of the Revenues and the cavenants in this Ordinance relating to the Revenues and the Hridge shall be extingvished. Section 17. APPLICATlON OF PRUCEEDS OP TS� 1885 BONDS. All mor�eys received from the sale o[ the 3985 Ronds shall be deposited by the Issuer in a speoial Account in a bank or trust eompany e►nd applied by the Issuer as fallows: LKIr03/12/85-5fi2A�i873 Ord. 3932-85 �� 4/�/85 - - '�i•�`�; ,t-^•";y;•r �.. ... ' " . . _ ' '� .�. . -.'-1:..�' `�".' 9'';""'t .r�' . � . ' . . • i � " _ti.^y",,.t��'"%�..�-°' . � . • ' . ' ' ' .� . � ' . -�.1.'_ n ' - . . � ' � .. , ' + .. .. . ' '� . " .. . . . . . �" . ¢ • N t, . . . . , � . . .. . . 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"5 �k �.�w° .�a�� '� •�°+y� ?: "'L '^y+ ':} { .S.' ::1 �C , :i •.! . h�° y !ry + p �`i f. �r� ' - �, � .�. u. �: k ,i ti v .� �rr.'�; �•, r �... r,�,'., t: �.� .x �5� `i=x.f' �'��" ,•�''. � , °,r� � �q , �, . t.i ��.i��' •�c , �,,,i �"'"'F j.� ..b� �Y, r ..'i . . �Ji. 3:r ..E Hl d" 1 1 �tN .1E '�.a`< :�ti€�i S• �.i�- } ,�?i.�> ' �.-a .w=:� : r° �`i'� T 9 .R . s4 r x�' K �i. �vt'}s:° � S t F= ' �l � �°.� -vi l .i'5�.. .t�:�.ti:^�S �.i `� �« �A� .`� •�! ��R. !il •P ��I'�' F '! q.. i.l'•� '.c . i n`� !:�'i " .is..�- .s '�r� `i.r. .,�g_�4:: �� •.�.` :�':: �•"��" S, �5 .v��y e'r.. - • .5 � �• > � .i;� ':� =s `' ,y��.'� iY. '> t -.:.�. " a z � .i •Cr `°��r' :!:` l ii: f-t. ..� `Jr" .6`�' .. � 4� :r•., �.. �. � ;q. ,'� ,��' J' ,'t� 1� " ai:'3" y r�•�1 ^a: .s„r . '�6' �.'s�t ��i•�..: .�,>•z'.r.°'±? • •t.; ;` � rEl:.'c). `",'• s „ , �':�ia ^'�,., �1•k•.. ' ' ' ,v...,. ' ' - . ,^ _ . „ •,. ,�- ,• ,.. "' , �. - , � .e • . �'� .P' __,.ix�ys..,... '9��.. ,.4._:+.�,�•:>..;'�. --- _-�.. r.�ra.ww..�,�3_ i....�._ _. ..'.•. .�i'.� ..,.. � n<.. . .�'�.� ....��4��: w ..... ._ . _;"�'".:��'.°.�.r_u�r_.�.�.� ,,,s,.,-. �.�a.Y��r�.�.'tir��: =k�..u. _ ..,rt__ , _r__. � �t� r ,�� ' . , �. � `�"t, ''�� A. All nccrued interest shull !ae depasited in the Interest Account in the tsf�X` . ' s`� �, � ��:��," gond �und and used sotely far the purpose of paying interea� on the 1985,�3onds. .� ..Fr; �'� ` 8. A s�m which, together tvikii other avatlnble mone s wilT be e uAl to the .<Li':'`� y 9 Hir.� ''i . . �"':�t�;s � Maximum �ond S�rvtce Requlrement on the 1985 Donds beaoming cluc iR nny Fiseal Year . :;��;;' °• ._-;.,,:,j •.� may be deposited into the Reserve Account, at tt�e dption of the I�suer, , � C. To the extent not reimbursed or pnid by t��e orlglnal purehoser of the ,, 1985 �DRdst the Issuer shnll pay all eosts and expenses in eor�neetian wlth the prep�r�t#on, Issuance and sale qf the 19$5 Bvnds. D. A sum speeified in the Escrow Deposit Agreetitent whieh together with ihe other funds described In the Fscrow Deposit Agreement to be deposited in escrow, will be sufficient to pay, es af sny dute of caleulatior�, the principal of, interest an, premium, if any, and other costs and obligations incurred with respent to the Refunded Bonds as the same shall beaome due a: ere redeerr�ed, as provided by subsequent resolution of the Lssuer and tn pay the cxper�ses specified in the Fscrow Deposit Agreement, shall be deposited into the Eserow Aecoutit est�blished in the Fscrow Deposit Agreement, in the emounts sufficIent for such purposes. 5uc3� funr3s shall be Kept separate and apart fram 8ll ot3ter funds of the Issuer end the moneys an deposit therein shaA be withdrawn� used and applied by the Lssuer solely for tne purposes set forth herein and in the Fscrow Deposit Agreement. Simuitaneausly with the dellvery of the 1985 Bonds to the purch�ser thereof, the Issuer she:ll enter into �n Esernw Deposit Agreement� in substant�ally the form attached hereto, wtth a bank or trust company ap�r�ved by the Tssuer. Sueh Escrow Deposit Agreement shall provide for the deposit of sums into the Fscrow Aceount and for the investment of such r�oneys in appropr�ate Federal 5eeurities so as to produce sufficient funds to make all of the psyrrients deseribed in the first paragraph of this 5ubsection 17D. At #he time of execution of the Fscraw Deposit Agreement, the Issuer she:ll furnIsh to the Eseraw Holder named thsrein 8ppropriate daeumentation to 7 •,� .-,demotxstrate that the sums being deposited and th� investments to be made will be � �' suificient for such purposes. 5 , , ' f � 'i , � . . „ ' ' ' , i . ` , ' �. A spQCial fund is hereby created, establIshed and designated �s the "1985 F'ub�ic Service Tax and Briage Revenue Bonc3 CQnstructian Pund" iherein called ihe "Construction Fund'�). There shall be pai� into the C�nstruction Fund the balence oi the moneys remaining after making ell the depas€ts and payments provldec4 for in peragrephs A thr�rFRh T3 ebove. , � LK L-Q2/20/85-582 A-1873 Ord. 3932-85 -25- 4/�/85 - - =:��::-��.,-�s�� .R' ..-�� .. _ :;r ' =`,; ,... _ �: ��,� >-:�` .. .'. �r: � - .ti- � - . . r h - � � . � ° .:k� . < ., .S-Tly.« �. ;�.,1«.a...r;{� ,.,,�N ' � .. . . „ . , . . . ":"' ^ r "�r� ., .Y . .. . , -sir . . `i .; . . . . � °2rfe t•. , „i,Al.y;�.,,.�,,., ...; .^�r�rr + i.y�. r. � , ; d; .7'y: 'S • il"1 5t`3*-' ^ �.' {t^�}j � . ( �ii � . .�' 'f� � :�i . , . . � . , . F . ':k�}',"' ' �•' • . . • ' ' , .f'. � . ' . .' .res`rrf y6Y' ,ti'a `q V .I . . ' i, f: c,ti °s�t'� .. •i � E' ,' � s�`Y�. 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I�i �1�' !'� ��°� 4 %. 9l �4;' • y:ru '�', ��`} - �r e. �+�'.4 ¢x .tz�` ;'�.� t '•'� ^�.� ��`'l" . �. � y �.V€ 5 s.. , �,,. ��':`i�. .a .r a � m.• i �: ,<•� �i'�. .S . i � •�`�`' 'i �� r� f�. b.�'� :3•" •�. a x� ::7` -� `:s:�` "�i 7 p S, •f�, �4S'� �:'il. �i i; �}- ��i � ..t l - i �: ,.h�v: g� - :s-: H`a ,E'''.'?:�� .1� ,�'.� .:i".i s'k, ,�t�• g.,: g �� .,, . r�., S.:w , -1 � � 1 ".�i,• °�s v �`.,,1�• . h. �: .r ,+:° J: :F. y �:1� a �f 't��'� ".�.#� �r. .n �'4 '',ls. .`�e'..' _ '�.� .,'i' s� `�i' S assC$� -..i .t. '+:�� .�r. ��i" "s.. !:r. .f:�,.. r .o s..,� .i�..el.':F . (.r ��'t.��i'. !dl' .�1 . A � .:if� �'�� r'.51Si. '.1.-d-... .x�� :d.- '.'r'� :r� `d. Pr='.'.o�E.i�f:`.^�' �7`.,..f.- 1 a. .5�'i rA"i '•f.� :1.�. ,5�.. �_y.�,.(' r; r.e'� �� .'l �:.. �;'. ' �. ! �. i"�' `i> J`• P' �� 1r.�.'� �. :4 � �,i:. ,.°i'. S. � , �•.a::4~�. •r.. :�'� t_ ', ', Fi�. _�� F°.. �i .'h 4' `�r' .�e.!4;,t°' :i.. �:+,• -.�s'r:..� .:: � .tif: � , ., � , . . „ . �. . , ,..e : ,. . . .. • .. a�7%fra ;{..}.:sr...a:.a5:r".iu.,�:��'It�f'.'� ......�,...�se.� ., � :.y,:::i ' '��T�a191t7ditli�l�'�': '�.', i. v,�... �, � � � Sucti fur�d ahall bc accounked far separutely from all ottrer aeeounts of the lssuor, nnd the mnneys on depostt th�re[n shall bo wlthdrawn, used nnd npplled by the Issuer solely to titie payment of ttte cost qf the Prc�ject nnd purpos�s ineldent�I t�croto, as hereinnbave describe� nnd set forth� if for nny reASOn such proc�eds or ar�y part thereof are nat necessAry For or r�re not applied to the payment of sueh cost, then the una�pltad praeeeds sh�11 be Applied and mllocated by the Issuer into the Reserve Aeeaunt ta thc extent necessary to meet the maximum requirements thereof� t�nd any balance ther�after rnay at the option nf the lssuer be used to pay the eost of eny lawful capital project of the Issuer, to fund a renewal and repla�ement fund for the street lighting system, or may be deposiied into �ny Aceount in the Bond Fund. All sueh proceeds s�all be anc! eonstituie trust funds for such purposes, and tt�ere is hereby cregted a lien upan such moneys �ntil so applied in favor of the Bandholders. Any funds on deposit fn the CoRStruation Fund whieh, in the apinion of the Issuer, ac�ing upon the recnmmendation of the City Engineer, are not irnmediately necessary far expenditure, as hereinabove provided, may be invested as �rovided in Subsection �6D hereof. All expenditures or disbursements fram the Construction Fund shall be made �� only after such expend�t�res or disbursements shell have been appraved in writing by the City Engineer. The dste of completion of the Project shall be determined by the Clty � Englneer, whn will certlfy sueh facts fn writIng to the Issuer. � Y �a � � � '; � : � .. „ . � , /•� . ' ' , t , - � � r SectIon x8. ARBiTRA(3E. The Issuer at all times while the Bonds ere outstan8ing will eomply with the requirements af Section 303�e) of the Internel Rever�ue Cade of 1954 and any ve.lid and app2ieable rules and regul�tions promulgated t�ereunder. Seetion 19. SALB QP THfi 19135 BONIhS. The 1985 gonds shall be isst�ed and sold in such manner and'at such priee or prices consistent with th� pro�isfons oP the Aet and the requirements of t3�is Qrdinance, all et one time ar in installments� from time Xo time, as the Issuer shall hereafter determine by resolution; provided that the iirst installment shall be sold end delivered onf3r in an aggrege�te amount suff�cient to effeet the complete refunding pragram descrihed in Section 3 of this Ordinance. Section 2U. CAPTCAL APPRHCIA'I�ON BONAS. Far it�e Purposes of (i) receiving payment of the redemptian price i€ a Capital Appreciation Bond fs redaemed prior to maturity, or (ii) receiving payment of a Capital Appreciatian Bond if the principai of aU, Bon�s is dec�ared immedlately due and payable under the provistons af the �rdinance, ar iiii) computing ths amount of the Maximum Bond Servlre Requirement and . ., , LKLr02/20/$5-562A-1873 Ord. 3932-85 -26- 4/4/85 - � . �.�..�.._�� .� _ �;;, � : .;�: - .�, _t-.�., a _ . .. r•.{th: �'.� . r. _ . . . :i �.. � K��r ,!. � . - ,. .�. .... , . �`� �� . w- �. . f� vei}��'xt,�'lf� �.w... _ . .5.. .r^'.fqY.M�.y:r,�Ki,+....l�^�•�"'�`.s"�ye�. . � �:I�n• '' . • , � � � •f � ,F . • � :."`i•., . ... . ',z - , ;'��,e. . yr'�• ` - ?'{�ye�`' ' , .. ' .. . , . . . . ,,. , ;,� ^F;. ' ' � ,� .'i�y �1� ..i .: '.., .. .. . . . . ' �: �: � f>; ' €,§�,..,.sF+:�,�;: `�;:T�� . ��; ��'�:; i i�; "!�.'� � 4, x 4e,� . �r, .� . � . `a • 'o�e . 'i°;. �`sv� :'=3'fi:1'.t..n4}rke�, � < P'• ;�;,3. ;d'+�. 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L� �� ..1.,• �.1�� .1', ��yx't'. �_°",'�•°S.S.`�::°� ''EF �,. .S �tw1� ��i:.�3�.� �.r.�.. �� •i, �54'.;,s. ,.rJd::' `�-�,k 4„ v;i^ 7 i +. i ':=+`� r� •is s !sYr�. .a:.� r. .'ij=.�� '��" f . .t .H 'Y ..5�'.:' -s ��S'� `i�. t°�!`i.A• •�S'..r v'Y + 1� 'i.. �c�v-f�"Le ) A� 7� �,a � H "1'; ,nt`, c:, f:t',a�f°� 1 � `x: �{ '�r�_ ' a. .',� °'t'��. .i �t.'^ . .x.. ',+�rh f3 ��r`•' ;4'..r ry :,.r'.:�.v .i� ": .�:''y+.•'�. �n ",= d�y ..��..x .8i �W k.' �.i ��• y}' ,�/� .'0i�:� wi� %:• .Sf :% � 4Si1 k, "� i:^ �'.'i'� _,�' r�., �i' f• ;=�r -�_ f: a Qs�yt� :n- w� ♦�.3�'� �i?r ':i�; ..>>. '`� 'a^'' .�.�w.�• �� .��n'`;'., �k n '�i�F �� i.-t r'' �+�. fi �. � . .'q.,y,,� � �1 .�: a`� - :,t{x I;N-S. Y .,+.^` ?:ta`.- ..rr' i �'°. � �`=ryi:, �-, { �rt".r r5'�.. �p• r'�.i, .� �;-" .a .a' :'}i'� }� L � S. .�S � e .r :�J� . .� Y � �'x7a� -�� -�:. s 'C: i� � y' '.:i� ".a:k't.;� s •ri � ;';: � , t � �1 � r *�t�..,� . °�F�.;i' 'i>::�' ;w..;,.; ,F.. � .`C' "S:' ^s�'�... ��,�`..w=�.- ��•. ' ,. � ��`t. + , � .%t� R. �S � S:. ^.x. .r'."ri�,t � s� ti � � 3 a •�; .'��. �'� T . }YiA.. ':;.. �:'S.`',• .� q'Y�+'•^ •�F'' � t.4 ' �'. �.�,� • .i 'a � �'�':.� ,.4. y, i.. � ; .p� � s=�y , �;. :�:-. =a� �i ^r� y �:5�`G �S a�� :�.,;,��; w4� ., �i':.5-`='" •t 4� " �v� �r�" h •X4• F t P f 1' ,� 1" ' I' Yl' �• � }.:� ,r� �. . .,4 � - d . .l �.t 'x ••rY . .ar . . � s . . _. . .,.. . � S ._..r.zi4�� '9.. , ., .. i ' .. ' ;.".� , e•.�.7 � .. �; �" ' ° : _' . ! 'R�° �• n . . . . . . . , t'�r : » .. . .:. . .. � � �'. —�.. a :��x,..r...,�r.f..° ,. ,,. , r<,.'r:.' •�'.� .:�.''.....,_,.,.::�.:s,.i..,.r,.A�:..�..__.... , . , . <. ..�•c�"•��r �.�c:°L . . . ,,�c...�.:�:a�..'x_,....., a_,... .___....__,...r:' a. � _.._..k. � ��: �{ F 1 ` , of compt�ting ihe principal amount of Bands neld by the registered owner of a CQ�ItaI Appreci�tion Bond in giving to the Issuar or the Trustee uny notice, congent, request ar `' demand �ursuant to the Ordinnnce for uny purpase whaksoc�ver, khe p�incipal umount of n . � . � C�pttal Appreeiatian Bond shall be deemed to be its Aeereted Volue. '�'� . � :3ention 21. 1�lODIFICATIUN Ol; AMi3NllMTNT. Na mQtertal modifi- ention or amendmcnt oi this Ordtn�nce or of At�y or�fnance ar resolutian ame�datary nereof �r supplementnl hereto may be made wlthout the consent in writing of il) the '' tnsuror under any irisurance poli�y of t�e Issusr then in force wnieh insures agaInst non- peyment of prineipal of and vedampt{on peemium, if appltcable, and 3nterest on, the BoRds, and {it? the BQndholders of twn�th�rd4 ar more In the principal amour�t �f the Bonds then outstanding; provtc�ing, ho�wever, thai no modtficaiion or nmendment shaii p$rmlt e change In the maturity of the Honds or reductian ln the rate Q[ interest thereQn or i� the amount of the prineipeI obligatlon thereaf or affeeting the promise of the isse�er ta pay the prineip�l o[ and lnterest on the Bands as the same shall become due from ine Fledged Revenues or reduce the percentage of Bor�dholders required to ennsent to any materfal modification or amendment l�ereaf wtthout the eonsent in writing of a�y insurar and of all � Bondhalders; provided further, however, thet no such madIiication ar amendment shQll � � �llaw or permit any seceleret[on of the payment oi' ptineipal of ar interest on #he' Bands � - i upon any default in the payment thereof whether or not the insurar and Bondholdera . .,�. �. � " : � .� , �- consent thereto. 3ection 22, pEPBASANC� ANi] SUBROGAT�ON. (a) If, at any time, the I�suer shall heve paid, or shall have m�de pj�ovision for payment of� the prinoipal, interest and redemption �remiums, if any, with respect to the Bot�ds, then, and i� that event, the pledge of and llen on the Pledged Revene�es and all e�venants herein in favor oi tho Hondholders shall be no longer in effe�t. �or pucposes oi the preceding sentence, deposit of Federal Securities ar bank certIficates of dePosit fully seeured sa to princi�al and xrsterest by Eedera] SecUrities Sor deposit of any other sec�rities or invsstments whieh may be Qutharized by lew frarn time to time and st�ffieient under sueh law to effect such a defeasancei in Irrevoc�ble tr�si witl� a bankin� instSt�tion or trust company, ior the sale "�r.�!'ft of the Boadholders� in respect #a w�teh such Fedsral Seeurities or certifieates af deposit� the prIr�cipa� and interest receivc:d will be sufficfent to make timely payment of the principe►1 af, interest on, redemptian premfums, ii gny, expenses as�d any a4tter obligations of the Issuer incurred with respect to the � Autstanding Bonds, shall be nnncirlPrar) ��,r�vision for payment". Nothing herein shall be deemed ta r4quire the issuer LKI�02f20/85-562 A-7.873 Qrd. 3932-85 � -27- �+I►1/8S y � � ��..%ilri. '!" �"�'�� «ti' .. � ' � , ' •�. � � , .- . ».!:'v�w��'�.T��,�� . .. .,` . � ' . � . ' . ' . .. . "��:` =c•"i,�;l•'.''�� , �l . - � .., . ' ' .. .--i: . . ��-. . ' - . _ _ -- �.:L__ . . s . . � - -�.'.h..1. ,G?..�'�.��';`t•.�;�.`^,y;�"e.a. , . .. �....Ji..s=� ., -S•,.4 . .�.r.,�, . r. . �...,,h.,i. ...rre,s;.�� . -��...lr:.! .;,'.�s+;,�'.++�'�W. .R•tli'y'�?.'s�r .. �'��r. :c- •'' .. ��+- ...:i Y?c�7"h�'�` . :Y 1 i fi`f. �' S�'.'� ` �i . . l . . ' . . . � �� ` .� . 't':. e7`E,... -:i`�y`i' .. ,� s . . • . a �:' ? • . �g .•i� �' ''s"�.i'�:,: _ '��..` .��i.,, , 'a: �s :r.. .�4�p','�•,� .. �f 2 . . , � . .r ��3 '.t<' '�:�° '1S'" .5' Y "'�F � ,' u i�..1nF'�.,�: 4��f"s�"9".��'�°��:^�� ';fi�w _� e°�s`",};i: l "�7.: '�1° l-. ��7. ��t �, .f9� "�r�',�n `�� .rr, � �S�''° .Yr.: .�.� .'T � � 7.•. it-� . i .,,s �:e.' � '.`i.3x4c.r+'r. 1 y 't.. ,�S�i ��,�,�,.. '�'°;`. . 't �> .S. ;ii• .� '7.v .% � ..1 r ", s `.'•C'x'�£�7" ' .s` :�f, '.!' :i . t .d '�+. . � � e .,k-"�' ,.. . . ��- �a. 7 :�l��} ,q. u °rr �1 � : •. f :. N: � "Ir1� "'S 't�'T�'� �'�.� S � a��t/�. 1.1x' :ti� ..s1'� - � � �.�� .1., iST.�_ .A ��.i i ,�i� t`.x:� "'iJ' I'��r• t� �� L '.R Y_y` � e t„ o �si " i::: ' .r � 1: � t' .' '�e' � - '�.0 I�: 9' t--i ' b F� i �. � �� 7' .! ��'7� $4�.`��c�' �f, ti:: :r: p S.` .t 'l 4�� `{ �.�,��u, "4 .� s1� �� !�.- : �� : r;, r';r'. .. +¢r r.':;ir�:7e`.•,�.s;�� ;s. ^ca �k4� �• �? r° vf ,ti': .:.>�ii:• "" c ? s 3 : r , f: . ��le` � i . , il ,+ ' ..* r,k.. :'lt' `.�.' F`•::�'.r•. �'- a;� �1�� Y'. �. °`�'.� n� 4�. ��'��'ti' .vi� A a "�.�. -l. ^''t . �'E , t f e �M ��c �� v '.� �. A„ .d' •fs. `s.�i�.�` -d...� e� :�.,. .a �°� o>.F .�. . l�` �1 , � �t � w ., r ' f.. l)L'' L. 3 �; �r,,. ='in �x..;,... .r,., t 'tN Sn"� U.i°.. .��.p:,s��. ��e..,` �,,`.. ..i �,� a ,�'. {,.,�: .F� C�� 5'.: "�,°x , :tH � V� ''e� �.v �` i Y �, . � c: � �t+. r •.�9�p�� ' 7 �w � S t rlt' � �.t+� .1 1 '�i,�...s , .1 'i :rt ;.i'i:'M1r� �'i: ��. '�1.i.� :;.,�' . �,t« ii � a.-.:,% a + ,��- '.y^ a �+_� at. �'�i f h r �. •:i:' :a%� a: �h•. �'ev ':a,..<.ti��. :i$'� r. �.g3; i �S .3 -"�S !. � �...� - }. � i . +� ; " f,' ��`i, : r � n. � r.. ��. � ., a, 1 'F��"� '.a "?r rR'"� . �r�, a••+ 7� d4:'� �[. y: ":k ::i� .'i• 'Q. ��d... "`.}f ^i' JI i s. 'btt�,,�+ y n s ��Y� ;F; . •:'t' AAi., a�a:hti.. ..i ,Ic � "`t' • a� k�3�.:{+"f�. .3�_'d . �q, j'«'•t ..a . - �:r�. .4^s`1 , )�i � � '.! - ;ti•�^h'ts� :; . .'iY�:�<:;:� , ��,.." _.a �3. � a.��ti � r s � �s�i�� • -t .., }l. ,.) •tX": ..( �' 1-X:,� ��f . F: ' . x. ; ° R* . �:. . l� "y� ?` r. �� r. �... t '��u i��.'� ti. �. ��, �'i1; ,.�: : c. }�4 i• a• ' �,'�+:. x ,a i`s,� .�.: $. .c. '�, ;v,2.`�C� .�«.g�:j�s�X� SrR' .)�� '[ 't'1'.> "��r�P :I\' .�..•' e`' • '.t. t'.r e `it1P', '. ,t r� r 4 '°�, { .�r,•i'`.�r�,'+ ,r, a�• wa,E� .�t,�+� �i �. '� 3 .9 i' �} '�I% �:�i�JY -a y� � F,,� a� b_ '•7 � �' �s �':L:�� '�i:::'� .iy''�1e:: . :3'� ��'. ._: { �f rT:'�:6 f', '.�'�`t p .'F �a- �t'.e:'; '� s: 1 i '•'i.�'.;':. s.�' ,a . � T ' �� .}, .tf�'i ri�. � ,..� 6'ti�Sf��!..i:'.i'1,. ..til � ,��,; 1 y, i1.:t i #��• }'"• .�..�.,. ��Pi<�f: , ,rV � '=v. W,'1`,�,,..�.� � �x��.{ .7 "}�. �it .,� ��"i�•. - 1 t r .tav �'il�, ,`7V.. 't '!' _l`.•`.� ^t�. .;t.t� s:ii t�. TJ�, �`�?.•r•�': �`�ii�'lii.� %fs�.�i. '.t+:: ..V.wi�. '� ��.i: ;,...; �ar: �.. � ..: �. ' ' . . .;"_"'�',^", 1 . • : v �:;',.•.. . !� - r'�' z. rx?3 i�;iav � t.F��:ix:::,. .-�r;^):iS.� . .i]�.711.�.:::..:i.wY�,uw.rv.w.....a::. .�i, . ,_.... ' �:; ... _ �� .`i::a:n �� " "".r; �i:.r�'�'f _3 � � � � , to eAll nny ni the oukstAnding qonds far redempllon prior to maturtty pursuont to any nppllcnble o�tional redemption provisians, ar to impalr thc discration of tho I�suer In dotormining whetl�er to exerelse uny such u�tion for early redemption, (b) . In the ovent any of the principal und redem�ttan premium� 1f npplie�,ble, end lntcrest dua an the I3onds sh�ll b� pAicf by an insuror pursuant to an insurunec paliey which insures agalnst non-payrnent thereof, the pledge af the Pledged Revenues nnd �ll covonQ�ts, agroemsnts and other obligations of the Issuer to the Hor�dho�ders ta whom or for thQ benefit of whnm th� insurar has mad4 such payments, st�all continue to axist and the insuror shall be subrogated to the rights of such i3ondholders to tlie full extent of �ueh payments. ' k/ , . , � . " i • : � � . . `.� �. . _ ' 4 ' i . ;, , , , Sect�an 23. PUBLICATION OF NOT1C� OF REFUNDZNC3. Within thlrty (30) day� after the de]ivery of the 1965 Sonds, the Tssuer shall eause to be puhlished one ttme in a newspaper publ3shed end af genere:l cireulation in the City of CZe�rwater� Plorida, and a finericial journal pub�ished ln the Borough ot Manhattan� City and State of New York, a notie� of the edvance refunding of the Refunded Bonds. 5ectton �4. SSVBRABILiTY OF INYALID PROVJSIONS. It any one ar more nf the eovenRnts, agreements or pro�isions nerein ennteined shall be held contrary ta any express prnvisions af law or eantrary to the policy of express law, ti�avgh not expressly grohibited, or Agatnst publie policy, or shall for any resson whatsaever be held invelid, then sueh eavenents, agreements or provisians shnll be null and void and shall be deemed seParable frorn the remaining eovene:nts� agreements or provisions and s3�all in no way affect the validity of any of the other p�ovisfans hereof or of the Hands isst�ed hereunder. Section 25. �IALIDATION AUTHORIZED. The City Attorney is author- ized and directed to prepare and file prnceedings in the Cireult CflLrt of the Sixth Judieisl CircuIt of FTorida fn and for Pinellas County, Flaride for Ehe validation pf the 1985 Bonds, and the proper oftieErs of the Issuer are hereby author�zEd to verify on bet�alf af the Lssuer sny pleadings in such pi•oc�edings. Sectian 26. REE'EAI.iNG CLAII3S All �rdinenees ar resolutions or parts � rhprP�f of the Issuer in conflict with the provisians herein eontained are, to the sxtent of sueh confiiet, liereby supersedcd and repealed. 8ection 27. EPFBCTIYE DATE This Ordinanee st�all take effeet immed- iately upon its �assage. LKL-D2/20/65••562A--1873 Ord, 3937--85 -28- 4/�/BS i � . �.�� ;=w .�_;_-:°�. �.;�> •�. ._ � - . . . - • . ...�;r'.;;�`'��:..._. _ , . , . . . . . -,-'.F:� " = j�r:_ _ . .. , . � . . � , , . . •;�.vs� `TiY.I�atTiti�:.�sid�7iii�.� _ . iiSi�+i'�""wrw,iFX�ii�S��f""��` � L � +� � ,r � � � � � BaQtlan 26, PUE3LiC NOTICI3. Notica of th� proposed anuetment of this :. �..' OrdinttriaQ �as baen prnperly advart�sod �n a newspn�or ai gonarul �treulation �n ' � � nceardt�neo witlti Ch��tar 168.04i, i�lortdn 84atutes, , . .., � . PASS�b ON CIl2S'1' �2�11DTNG M��zcti Z 1� 19�i5 . . . � . � '; Pl15S�i7 ON SECONU A�1D �'rN11L . Ap�'il g, 1985 ` � R��1pING 11ND 11UOi"I'�1J - -- -. , r ., , � . . , � � Nf�yor-Commi�s�.o �r �, . • . At�es�c � ° . , . . /� . �.� .� . . `� ' I� `' . � ` ,� ... .. � ' �F , . +� � . , Cirx'C1erk' �. � . . , �� , ; � � . �, � � �. � � „ � , � �.. __ . ' , . , , � , . - , •� . . , .. ' , , , �; . , . . ; � ' ' ` , '. � . ,-. .. . , . . �. � . � . . ' ' ' ,. . .. �,. . . i , � . ' , '. I� . . r � - . � � , �i ' • a � . . . ' d � , ' , ' .S � � ' . f. . ' . . � ' • , • ' . ' . :1�Y ' . . ' ' . . . � � . ' . ' . . ' • . .Y � ' � . . . . . . . . � ' � . . 1 . . . _ ' . . ' � ' . �� . . . . . , . . . ' . " , �� . � ' � . , . � ' { ' ' .. " . ' • . . . , , I ' . • f ' . . . • � . � . �t . . 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''3'�r' � �'? ��` �, S''.i 5 . � • :N. <^`8.6�� '�� .Y, �f�.. 1:' u'...s' � �l �� " � � � 4� . , � Sii �a.�d" .��<+��..r �+;s� F�C...�3.` ..� r� .�"��. � , � �`p" 2 (:.�^ ;° »��' �'� 3. +... :i� � .r": �.. :� t � k ,��' 34 .� #..,� .5;� .F,.� :•�`�.: ,'',�:° .3 r. ��: -•?� .0 ':i :t>: :�§� e °�M ti c i�' �. .�� .t- c•` .L. u.; �` .''', ti �" _ ', ^ � s�' ( °":i ^ �`� r� N y� t i@,. {�:dt -!s. �^'.i�',.,rr°=:.. �;.��<f j� �a� ��r 1 '... � �Y'"'�p ,�. t, � � .: �t$ . �� '' �� a „ > :� , �: 4C { � :.i� �f' .a� .4 (4 �:f:- � $� _2^� "r '� sr 1' �{�. �1 ` :'�� '. �f �'. <<: .,�k��.�"��.- s.i'.x �{.^`�� 9 'x ��.;.� ,+�x Y..� �i Hd�� L �1�� Y, .F. >t, ��Si^�� i �4� �i:i^t��'.-.i�:i.� .�'�e.. ��i.. ,Y�r'v.�•��'T � ` t�. � .M�S�ty sd,v:f � ..„ ,E,."' e�'n. F,Y� .y` �..)! 1 �F�. ?4 � �4♦ Oe?.'�'s•.'!�3�'3 . ' ��.i.�:i �id�.' i � �°J::��iS` .I.•r'�'v,�IAe,I. i '�� R�� '.�L�SIA..�i.�.zl.r.�.....�-....:...v..s.f Y'i'..l..i �C.: . ..'1.��. r-.. ..�.r .°� "��i° r.•4'rA• 'i� gl`y,y.,:...w.�wai:�%�i:�� '• , �� i. �� , �3CROY�•D�'POS1T AtiRBBML�NT � EXHIBIT A Tltls E8CRUW D�P03�T A�RLL�ML�NT, dated ns of , 1985� by and betweer the C�TY OI+ CLBARWATIIR, a mut�ictpAl corporation of the Stmte of �lorida Ithe "�SSaer"1, nnd _ , a nationul bnnking assooistion arganized under . the iaws of the United States of Amerten, as Escrow Holder ithe "�serow Holder")i WITN898IiTH: WHBREAS, the issuer has prev#ously authordzed �nd issued obligations of the Issusr as hereinafter set forth defined as the "Refundsd Bonds", as to which the cvrrent Aggreg�te Debt Serviee fas 3�ereinefter def[ned) is set forth on Sehedule A; snd WH�R�AS, the lssuer has determined to provide for payment of the �urrent Aggcegate Debt Service of �the Refundec3 Honds by depositing with the Fscrow Holder pursuant to the provisions hereof, eash and Federal Seeuritiesf t�e prtneipal of and interest on which will be at least equal to sueh sum; and WHBRBAS, in order to obt�.in the funds needed for suah purpose, t�e �ssUer has authori�ed snd is, concurrently with the deli�ery af this Agreement, issuirig certain Revenue Sonds more fully described herein; and WH�REAS, the Is�uer has determined that the amount to be on deposit from time to time in the Escrow AeeounE, as defined herein� will be sufficie�t to pay the Aggregate Debt Servlee; . NOW THBRBpORE, in constderatian of the mntual eovenants and agree- ments herein eontsined, the Issuer end the Fserow Holder agree as follows: Section l. DefInitiar�s. As used herain, the fallowing terms mesr�: (a) s�A�{gregste Debt Service�' means, as nf e�y date, the sum of all Present and future Annusl Debt Serviee p$yments then remaining unpaid with respect to the Refunded Bonds. (b) " reement" means thls Fserow Deposit Agreement. ._ (e) "Annual I7ebt Service" means, ir� any year, the princiRal of and interest on the Reftinded Bands comIng due in such year es ahowR on Schedule A attached hereto. . , _.__._.�._... _--_ -----.. _...._............ , . �. . � ,� . ' � 1 ? `� . �,� � 1.::�- ' -- - LKL-Dl/19 /85-562A-1873 Rev,43/13/85. Ord. 3932�85 -1- �F/�/85 � 0 . . -�"''"-�` •',�+; a rri�r:. .Y- .:-:�": . , . , , . . . .�'r � _°r�t:: • .i. ' � � ` � . . '� , ' � �=,:+�w"�7;?�J�J:�".'` ' • , ' � _ ' ` �, 5 �. : , • a �. . 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'i� ��1•.�`�S.e�.i•' 3. .f-"E 3'.: .�b��.- i. • :a �F..'%:`.' r.LY °�".i :�,��'. , • �s 5' t k � . �i:� ' ,e'r,r r 4 : .z" y a :.a° ��s•� q'1., .. �'t.' ��"W. s...:�i�'. tk:').'.x. :I:� �i! s.j ',4, .,�.:§'.•(.a�.i'..�.�:'�i� �>r.`' �i.+ .S ^�='�'�.s .'�,° ,a� �:s: .s z. �,�.. �r�;,, e, �a� .3,-.a "r'� �'�. �G s��,.. �.r� �• i i '. � , s,:ur� � :,;�.: .'1 � . }`�:.. _ 1 e .,,'3•. � X .�.}..e".. : t•�r� 1 r <C' �l''.i� .a' '�i�`�� X,:�< J�. � ('`f S ��:• tr,.,.' ..4:,`�� . r PY `r` .:T�•`� �°`•�' � g �:�d. ..t_ ��r'; :�� .��!;;�. � .f',:�-'.,.. �° S .a �� t`�a1 eaa�i '�r ��e' 'i'^�° k ' .�:r• : J li• �6' s[f'� -'� ! "it _S: �'�:'i �'it SJS � .�.r r?�b� A p� .'T" w',k . �'s.ki '~iS � , 1:.• ':.�� ` �t;_.r:• +..� f .:��' .��; � � S � {' . R 1 �.. i SN. Nr��e< �� :at,- _,Ta:'j•';',.:.. �,». .I.. .?��.. ':�'�-.a... ..s-.� :`i�_.,SP.r �� "�a at{.. r ;�:3��°� :af �.''i' �t': �,'.•, °+: 'i�° -t r�/:� t 1{.. r . 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"'l ,- 'r.r7: �+ei?��5 � ,t�;'�. .�°: iA'.'hf 0 ��" .•Y , �; �,� '�fl � � �. v ��;�;' i ` �'' ° � ;�` . �`��zi'r- � r..�. r�.�.�; f :;z;' +,: , , , :, f,' . ..4i.11•i � +.�.�'•ItA. • .. �3� a4; :i�4�;'� , � � � (ci) "Bonds" or "1985 Bonds" menns thc P�blie S�rvier� Tnx und f3ridgp Aeva�z�o Bor�s, Series ].485, af th� �Sauer, nuthorized by the Ordint�nee, as herein def�nQd. ie) "Esarow Aecount" means thc neeount estnblist.ed and held by lha Escrow Ho1dQr pursuanL 10 this Agreemeni, In which �ns1t and investmenta will be hold for payrnent of the �tQfunded Bonds and the Expenses. (f) '�Escrow Hc�lder" me�ns , , , F�01'�CiQ. j � I . . ; . . ' � f . � . ?� , . ;. ; , � . .. (g) "Escrow Requiremenl" rr�eans, es of any date of ealeufntion, the sum af an amnunl in c�sh snd principnl amount af FederAl Sacurilies in the Esccow Account which, together witt� Ihe lnterest due on the Federai Securitles, wil� be sufticient to pay, as the installments thereof beeome due, the Aggr�gaie Debt Serv[ce and to pay when due all E�cpenses then unpaid. �� {h) "Ex�e�ses" means the expenses (including cantraetual obligaLions Incurred wtth respect to the Refunded Bonds) set forth an Schedule B alie.ched hereto and hereby mede a part hereaf. (i) "FQderal Securities" means direct obligations af the United States of America and obligations the prine��al of and ir�terest on whieh are fully guaranteed by f.he United States of Ameriea, none af which permit r�demptlon priar to meturity st the option of ihe obligor. (j) "lssuer" means the City of Clearwater, a munfcipal earporetion of the State of Florida. � �k) "Ordinanee" means OrdInance No. , duly enacted by the goverrting body of the Issuer on , 1585, as ame�ded and supptemenfed from time to time, autharizing ihe Revenus Bonds und the Agreement. (U "Psyin� A e�nt'� shall mean the �aying Agent for Lhe Fiefunded Bonds. {m} "Refunded Hunds" meens the obli�stions of the Lssuer set forth on Sehedule A aitacheci hereto. Section 2. Deposit of Fur�ds. The lssuer hereby deposits $ _ with the Eserow Holder In immediately availeble funds, ta be held in irrevoeable escrow by lhe Escrow Holder and applied solely as provided in this Agreempnl. The Issuer represents that: � (ai Sueh funds sre all derived as follows: (1) �� from the nel proceeds af the Bands, (�} � transferred from the funds held tor the psyment ot ihe Refunded Bonds; and LKL-01/14/85�562A-1873 Ord. 3932-SS -2- " a/�/a5 � � . . � �.�: ��h�•,�v,w.,.� ^w' 't: `� : u« i : a . � ' � . , ' . 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' � �5...: "r� �'+�� ,�f a ;"� Mr�y`o,� """ �. � i '^�� r,:��c.. s.. .y:.�•�:",`� _ �y i'�'.� �?;' i #� �,3.{*�• .r:1f :�`4t"�a��`b �!c a'�; >1 e�, .�}.�c,...r«; y�xt, �y : �' �qj•` : '��c�-' ` �.i;� r��.�t. ��,'ia...YR.�i �. ��.k�, .�1 .1 .k�.�' .� `}:_ .�� ''�� ""i�� F '�%'w f� i-if .t'• �',"'+' ..;. �Y { � :jJ .i�:.:� t°a �!� :�� ''fS� =ro.. ) "�i.��.t,.,: .1� `f j,sr �:f'� 1 " .t .�r� �1. !c'y41°;'C '':i.',i� �.� 's'.j_. �;(�.�b.��:�,c..� al� ,r...:: .t: .F=.:�M; �.� a � .si�i�,� s '*YY i y .V' i. ,'S ��A...;�. , o :i'��:f�'.e",°:> i} ii" .i`` i?: . = Rr b;�.�' Y.'- 'c".�?�.n)co'�.' �."t Y..''. <'J�� y.I.�r�va;t'fY�.T � C��q.� Yi .� ��! Y�..�+f�} �.� ?.'� �:�� k.y. ! �`i�r"1��. '�,f�,�� R F . l, .iq ;es 'S . . [= , l� i. �g, 5 � i6i, r p t, '�f'� '1.. -5 ".t'e.. Y.,,�,�. ''{,� '..: `%` .k�' �:t' '�� `:v�" oy � Bfi , k :5 ia'r�r i "}•' ''�, !�' .r'v �' i .r. '�- ,�4' .r= r. �.,.':�.�;'.:... uS tM o it? °'f�'."',`',.. ��".'-'''tir:' �a ^F�:. i,r�.�. �(- •a. t,�� r4. �1.�}" �'�� i,�. -i S.a� s. ..t, .s� a ';.?s� `d �`r«� '� `-��F�� .k� .t�r '�. .SL° ' r. 'i�' '3 � � ��k'� '1•a�. '�.a � .r 'F. �. e . �,i� :[:* �''L '�7� ��a: .-«�� -'� '� :'�1' r �': K,� ;'� ':S �k5e ."q '~'1.�. ��F"- 4.�4, c�#ya�itr 1" � ,i. �::. y " . t � .,•�.. . •. 7'• ; � � � .a. r. ..n "i`, �n�: .+, -t�� +'` �z' � ,�4'�-�. .a:n < �. R } � . � � d.. .<��r.id � !"�i. �t ,t�+� l•�. `:�" r""N r 'ht, ''�.' .t i".'° J4''�'' ',�;J�, r: 1 E°a•'r`: S �'�'r+. .w° ya 'd^" �i s:t° cs �e�E�d .,tr .,:lF.s �' �r" .J:: .n. 4�' ..t. 4 �.Y.:M+a� •:,� � u- .^•1 � . •r''.'� tiii .�i *. .kk* i 2 }� 'r : : s��^- .,�n'„` ) . f • '�f,'",' '�`" a ..�,_e�s •e -.�°�'� � .� �k: n. �s, ._}., c �" =(,o- .%t:f'° 'S. +.�• ':i .i�` ,<. Alr .��.';�) nr..�^z; ..1 �:e �K .qj k ' V.� ...d�' �� • �ii° .,�':^t'�> :i-.. . i'� G�a' . �'' �• �;J �•:. nr� Y^lla�� y .t" . � '.1'.'�� •si' 's � .r �., •S.R ,.�' . �' r7. a ! � «r ,Cr} 'L: "t.` t i�� •��y ; ;.., .3.�;^. r�. s �4.'. rw.a�...,.1a�c�.�.v:ai•......:,,:,4;_,�.�i,n�a�++�eiiY�4AKli. � X� d.«H.x; °.a:�'< <r..._ •i:_: �_.. `�''� w ,1': �5, 5��•�-.V..?:�!?,k�� t"�'�^._-..� �°,.i? � � 5 � .. i ' � � I � ��IIr� i3) $ from nther funds nf' thQ Issucr. Sb) 5uel� fs�nds, when Appllod pursttant to Section 3 below, wi11 at lenst equai the I'serow Requiremerit ns of ti�e dnta harenf. •� &actian 3� Usa and Ir�vcstment of Funds. 'The Eserow iiolder acknaw- ledges racelpt of the sum deacrjbed in �ieetton 2 and agrees: (n) ta hold the funds in irrevoenble escrow during tt�e term of this Agraement, .,. . , � .. ' i ; � . . � �� ',n ib) to depos[t tne s�tm of � i� caah �n the Tscrow Aceaunt� (c? to immediately invest � � of sueh funds by the purchase of the Pederal Seeurities sst forth on Schedule Gl attached hereto, fd) ta reinvest,'upon reeeipt tliereof, any msiuring pr;ncipal end interest of sueh Fe�3era1' Seeurlties required to be reinvested pursus�t ta 5ehedule C-2. The Escrow Holder shell also, on sueh date of reinvestment pursuent to Schedule C-2, pay ;a the �SSUer, tor any Zawiul purpose, the e�cess eesh then held by the F�eraw Holder over the Eseraw Requirement ns of that date, {e) ta deposit in the rscrow Aceount� as received, ths reeeipts of maturing principal af ar�d inter�st on the Federal Seeurities �n the Escrow Aecnunt, Section 4. Pe ment of Refunded Bor�dq and Fac nses. fa) Refunded Bonds. On each interest payment c�ate for the Refunded Bonds, the Escrow Ho1Ber shall pay to the Paytr�g Agent f�r the Refunded Bonds, frorn the cash an hand in the Fscrow Account, a sum sufficient to pay th�t portion o£ the Annuel Debt Servles for the Refunded Bonds coming d�e on such date, as shown on Schedule A. (b) Ex enses. On eaah of the due dates as si�own on 5eh�duIe B, the Escrow Holder shall pay the Portfan of the Expenses coming due on sueh date to the apprapriate payee or payees designsted on SeheduIe B and deslgnated by aeparate aertificate of the Issuer. �a) Su_rplus. On eeeh interest payment date far the Refunded Bonds, after making the payments from the Escrow Aeeount descr3bec3 in Subseetions 4(a) and (b), the Escraw Holder shall pay to the Issuer any remaining eesh in the Escrow Aeeaunt in �+�xcess oi t�e Escrow Requirement, ta be used for any lswful purpose of the Issuer. {d) Priorit of Ps ments. The holders of the ft�funded Bonds ahall h�ve an express first lIen on the funds and Federal SeeurIttes in the Escraw Aeeaunt untll suah ft�nds snd Pederal Seeurities are used and applied as provided in this Agreement. Yf Lhe uu�ii uii iir�nci in the Escrow Account is ever insuifiefent to make the payments required � LK IrQ3/], 3/85-562 A-1873 Ord. 3932-85 ..3_ 11/4/�5 .. Ar�w„�J��'�Gw��"'rsA.»_°^�--� :4''�,. ..s .. , ". .r r-'_i �' "��.,� "~�. . . . � _ - - L,:j.. - _ ..-. i ` . , � , . , • �. . .. .ur° . � � .. . ..��3i•I. -. n.:A.Kl;.e: . t... � 'V.. .... r1. , , .. ' . . .. ,.a . � . , � . '-. . .:i.t. . i - .. ... , -v,+'' ...�ii. . :\� . . a7)�ti`..: ;.�a,,,1e�^�, _.�..♦ . , ' . . . , . . ' . .. . . . ' • .l . ' ^ ' 'J �' .'J l ,. �.�` � .:r i.1� ' Y � V'a...�:.�a' f... ' �. ° � ,�.' �•'' ti 't�.�w�'�a...>• .•.3''�j�++.d�s.��Y/ �i� ,G �� yi :.,�,4�6 ;.%''��"v' 's�. �:: , . . .T:Fi�`..�_ .; . `y..,.:�y!s�,':�.ia.,' E�: �x. ,k. .,r .`h% .r'. .��; :gs :"�. � r' d � ' i':'. • �'��' . .� ..Y. l � 1i�� , .{...�tl , . .F a`i '.YIC,f�. ir .�C.,':,`..i3 / ti+r+r ° :�'r•. ri 1.'; "ti" i_- �� :�1' >E �s `a'�' t,ro�' •:.4` .'i. ��s ,�P.. � a ti i ,.. �t !•i�. ��'. 's: .iir � . e . '.i� 7�:: r � ,:Y' i-: "-.:'::. , � =' +�Y �,. ..rx �'} :'s`,wr '�.��`� :=d•. •��r•.. � t "'� ,�P."� ti , t `�!- ,s' f �. �� r� :'r�:� t: r�,` ^a.�� `i. _ � :a <�� :��". ,�J t' r�� a' '�ir . . .i � Y'� �iP.. ' o, :Y.r .. f i1' �.�S�t�,. K �<� �e.� J �,Y� :t••' '��' �:" ��i��ti, s �'� `�fi�, .,7.y, • f �..i'� . . i. �.C� 4i�:° f�+ �.� �. f. ,L +F �F. .I � � t�, .5�- P ..s�,..: . �,r . . i,: . :,.' h•j' 's:,. ;=s, '� ;�,. ':C� "3� :t� �f, ��atrp.: :'x<�= ;. i;:`.. �i 4 ih. -t :i°� �`�:T1' } �e� r� . . !i ;s kw� �'f 7 . ,�. :5'.. <1 '?i /� i.i'' J.`• � A� - �'S�` .Y�' 4 Ni� f - �.[•i�� i.' � � 1 x1.' '.T..t ..�` ai � •'h �? ; �.', t:' -r.: .�,=f "�f' j��" . '.P: �Y•'A:�� . _`- �eY , tc<�'i , v= F•'3 .F. �.�'r .> ',.s ' w �•.r�' � j'7� �� j''7:''v � ,.P.� h" � , ,'Y" =':t�; �, '.r i:' ��• �'�'''��i'" ... �'t :�''' t r.>.:.r.- .i �: i�`�°'�� <� � j� .✓e� .,C•. , 4' Y f•��•ii,• -t �d ' '}.s ��I; �n .e ;f�, .�ta :��. •��. :� ,�, . � �7F. t 3 ii.' i� � .�I '�.=vi, i.1. 1 . i• �:�Y. �' �.5. . •�,�::�!�� . .i: ,i: .. , . .�:� . d i., .."�: '� •; . r . ::t; • '� . `:�.�. �,. _... �',`= r�� j» _� q ;;; , �°�, r'," � : j'.:;..� �?r � i a �j.> " _c`' � :,;_ ��`� �. `�1� . . : S•' -.1: `i� `C:;r':;,i:�. >xC�° �4 'Y,:: - t �y1••. .� . la�f.': " aS' , 1 ��s ' i': � .'.l 3 � •.L „� °•,' } . ..�, 5' .��, .��::s:;::,:.,'.'` �� `;:�� 3''s 1 y.�i�:•,.. y.L.�� w� 'A _ .� li .. — � " ��.�. "s._ . --�ir��i1�+..�?�flt�,'�' !,:�%:�x:»a�e..n�.:,.�...:...: �.., _ ....�..�...,� , � � 1 .. � � _.:.:.�`' _ .. _... _..y...�.. _ ._ . „ ,. � . ,.._._..�.,,.,�...�.''� -.W.,:;�� ..;�,.:...�....:.:�: :� �-� ;�, _ . .,, . .._ , �... � n � !��'�'� under St�bseetton �(a}� all of tha payments required under 3ubsnetion 9(r�) shAll be rnnde when due betore any paymenls shnll be mnde under 3ubsections 4(b} or 4(a). Se�tinr� 5. xtainvc.atrnenl. {n) �;xcept ns provided in Se�tion 3 hereof� and in this Section, the ' Eseroti� Holder ahall ttavo no power or duty to invest nny funds held under lhis Agreement or to sell, transfer or olherwise dis�osc of or maEce subslitutians of the Feder�l Securtties � � . �� 3 4 � F. R I 3 � � ,. � � � . � z: � ' r � � � � ., � • I • ' � � , . , , • ; , � .� : , .�..r:ww�� held her�under. (b) AL the request of the [ssusr and u�on complfanee with ihe eondiiior�s hereinefter stated, the �scraw HoIder shall seil, transfer, otherwise dispose of or request ihe redemptior� af any of the Federal Securities acquired hereunder and shall either epply ihe proeeeds thereof to the full diseharge and satisfaction nf the Refunded Bonds or substitute other Federal Securities for such Federal Seeurities. The Lgsuer will not reguest the Escrow HoZder ta exercise any of the powers described in the preceding sentenee irt any manner wt�i'ch wauld cause any Bonds to be "srbitrage bondst� within the meaning of Seetion 103(e) of Lhe Internal Revenue Code of 1954, es amended, and ihe Regulations thereunder. Tne trar�sactions m�y be effected anly if (i} an independer�t t�ertified public aecountant shall certify that the eash and principAl amount of Federal Seeurlties remaining on hand after the transactians ere complsted, togeti�er with the interest due thereon, will be not less ihar� the Escrow Requirement, and (ii} the �scrow Halder shall receive an unqualified opinion from e nationally reeognixed bond eounsel or tax counsel to the effect thet the transactions will not eause such Honds to be "arbiirage bonds" within Lhe meani�g of Sectfon 103(c) af the Internal Revenue Cade of 1954, as amended, and the regulations theraunder in effect on the date o#' the trnnsaetions and applfcable to abligetions fssued an such date. Seetian B. No R,e�iem tion or Acceleraiion a� Matar�t .'Ifie Lssver wlll not aeeelecate the maturity or due date o� the Refunded Bonds. Sectian 7. Inde� mnity. The Iss�er hereby essumes iiabillty for, and hereby agrees lwhether ar not any of the iransactions eontemplated hereby are eonsum- mated) to indemnify, proteet, save and keep harmtess t�e Esarow HoIder and its respeative suacassors, assigns, agents and servanis, from and sgainst any and all ltebilitfes, obligstions, losses, damages, penallies, c�aims, aet�ons, suits, casts, expsnses a end disbiarsements (ineluding le�al ;ees and dIsbursemenis} af whatsoever kind and n�lure which may be �imposed on, ineurred by, or asserted agaIr�st at any time, t3�e Fser�w Ho2der lwhether or no! a�so indemnified against the same by the issuer or any oiher person under LKL-01/14/85�562A-1873 Ord. 8932-85 _q.. �1�+185 J: Z:�:.�L�:�", •, � 5 � �l:, a '� =1.[ r .. , :; ,�� ,i ;� � fa 'li �'S";: ,^�: :•.��:.�:�.`� .:. . �'�� ; -.�, . , �. ..'. � '.. - � `�. . '��: �'-�'��`'r: J - -. ` a, , � ' • , . � , , _ � �'s-: � - �,, � _"°a' ,`;'k''� ��Y1v"'.. .. .. , . ti' . ' �•. �y �,� ; ; . ;, �le . i3 • t�� . ,. ..a:. -rr' x •�.rd �. � ;�'. �,i.. f.� i � ,./� : }� k. .�.i.i �,.. ��_!. R•• � S' ` i • +t l ° !� .i. �,� 4:� , � r � �;', >i.'� ��.r E <.:` � :� ',. �• Yr +6 }. Fr �t' -4 � :[ �'� � `.t".,' _r� � �'� . .. .:Z� , . <,S � .�ly �'`5'.��.j� � ,� s� ,� ;� it � �� ,,. � :� . . r. .. ..... . .. . ... . � . ...v. . � . � ,itl°1�... -rµ��„, . ! . �. . ' � .- ' ' '�. 'r;i:':rc��ili'a �.}%�i4'�' �� ,t _ E i . 'l.9 ;2� ' :�? `�' . 'g; �t...' .i'. •`.5��. . �:+�:, .. _ -' �. . „ � . . ;':.��".Yr,.•• ;�t a ,V ..,�� - n -�F' t 't :.,ii,: . r� t . •i.'i :'f', 'r:J; Mr.�. •,,: . -�,+'S.- = s � � �.'r`•. ::a�z '! � 'i3:.' `,, „rt'A' t} ; f�`.r', ti;.''r�,.'f` `�.,::' �;: ' . : >s� e`: �F/� .`i,'. :a;;, ;_r: �',: .i�N fj' }:' _ . , t ,'i T... zY � �aiz,� � f � h ; z�: �`s� e'�:`r"ar'"`�."xa��...ir. . t°. �.c'w..ar.:a.rc.�:�w-�- �'i�if.;,��: _,°.��....,..;:.�.�„w+�wiw:u:.:i.� .ti `:�>."�°'�,:1z'��,yt�,.- "y,.• . - - . ' � .: 7.��':J.�'4%y��'•;. ��. _.�r. ':t-;. a'u� t2.w'�3�t.C�J.,f..f s' `,�j�t�,�.u��',ai�+q^��,.��+rest �,�`�:�tf= °-1'.�':yFl a�c'c.x�:: af r �'. �..� `�r''.,}:�.!,.r •,`t.?�. , .T��.�. �ii. ♦ . r.r. ..Ii.F. �� i�� K ! f q . {.'y� ;y y�i +t � �.... ',.i "�'i°.•.3 `��P" -f� 7i,.+�C�t .��.. .�- a . r .O�.,Y �H�'.34+_'T.l,a.t.t.... :;i �+ G.y: , 3 j.,�.' .:,�r S ��- � .5:� .:t' ''�?' �,'� ,:p. 4 �. ':i;::...:�5i� �d° ' i f .� t: t o-j: :��, pM y t ; 7= :5,;: .o• :'�},�(.rf.j''.. s;t` lu~ q•r' y'^,�o�.�.`.�'�'i�.,t �F"��:` 4 '�t��14� .Sf�.� :t.s � -.. � r.. ...riir.l t'L':''.. . .._..... � � uny other agr�emenl or inslrument) ond in eriy wny relating to or nrising aul of the Qxeeulton nrid delivery of this Agreement, ihe establishment of the Escrow Aeeour�t, estAbZis?ied hereunder, thn r�eceplanee of ihe fu�ds and �ecurities de�oalted ther�inf the purchase of the Federr�l Securities� the retentlon af the I'ederal Seeurities or tho pracaeds thereof �nd Qny pmyrnent, lrmnsfer or other a�ptfc�tian of funds or securillcs by thE Fscraw Hoider in eeeordnnee with the ptovisions of thi� Agreementf provlded, hewever� thnt the Lssuer shall not be required to indemnify the �scraw Holder against ity own ne�ligence or wlllful misconduet. In no event shsll ihe Issuer or Eserow Holder be liable to any persan by reason of the transactiona contempluted hereby other th�n to e�eh otHer ns set forth in this Seeiion. The indemRities contained ln this secllon shall survive the terminatfan of t�t1s Agreemenl. Section 8. Respor�sibilities of Escrow Ho3der. Tt�e Fscrow HoIder and its respective successors� assignsf �,gents and aez�vants shall not be held to any personal �3ab11lty whatsoever, In tort, contract� or otherwise, in connection with the executfon and :� - . delivery of ihis Agreemenl, tne establishment of the Esorow Aneount, ths aeceptance of ihe funds deposited ti�erein� ihe purchsse of the Federal Seeurltles, the r�lention of the �ederal Securities ar the proceeds thereaf or any payment, transfer or oiher application of money or securities hy the Fscrow Holder in any non-negligent ant, non-negl�gent , , ,r omission or non-neg�igent error of !ha Escrow Holder made in good faith in tt�e eonduct of , ; . ,. ,. ; :, its dutles. The' ESCrow Holder shalI, however, be Iiable ta the Issuer for its negligent or willful aats� Oi'11�55LOn8 �C errors wh[eh vio]ate or fail to comg�jr �vith the terms af this Agreemenl. The daties and obligations af t�e F.scrow Ho2der sh�ll be determined by the express provisions of this Agreement. The Escrow Holder may aonsult with counsel, wha may or may not be counsel to the Lssuer, and in rellance upon the opinion of such covrisel shell hQVe full and complete avthorizaLion and protectian in respect of any action talcen, suffered or amitted by it in goad faith in aecord�nce therewith. Whenever ihe Escrow Holder shall deem lt necess[�ry or degirable Lhat a matter be proved or esteblished prior to teking, suffering or omitting any action under t�is AgreemenE, s�ch mstter may be deemed to be conclusively established by a certifieste signed by an authorized officer of ., ._._.. �llr �.s.aMl.l• � Section 9. Res�gnalion of Eserow Holder. The Eserow Holder may resign end lhereby beeome discharged fr�m the duties snd obligations hereby created, by notiee in writing given to the Lssuer and pub�#shed once in a newspaper of general =Ir_�.:'.�if �^ g;.��l�shed in the ierritariel limits of Lhe Issuer, and in a daily newspaper of � I� K Ir01 /1 �/8 5-5 B 2 A-18 7 3 Ord. 3932�85 -5- ��I4/85 -- -�--T � ,�,� y,; . - --- . . "`�'r+,.. •�r:w'. y 1'." `Y-� - . S:.-y ; -- . -+^�'i`!i�S7r:l =:7._. . ' � -' - � L"^h � -'� « ' .r . . . . . . ' .. N _,i _..' y, . . .. � , • .....�............,�i..,«tu.�.......«a....�w ---- ._..._..-�-.__.... . : r� ,�s�.R:� '+�'� P.� � . . ii �:.N.�.: �t.t.. :ikl.'_��.� � . i _.� t �� , ` ' . � . � , r'a..t a�.�,j.: . . . .. n.. , "¢s. , . . . is.. .s !f, �-.Y"1,: • . . . .. . . � < < aq....s .. .v.�s<}'ti..�,ie..•: .� . . . � ..i�f � , ,'�, . . - . . . . ' ' ' .}, '� 'k ,'� . :j .;'�.• - 1Y. :';�.. . .. . . . <at;f.n- -`ars.:?:;�� .,�S�,x�TSj �'E' ' �.:. :.14 .t _ . . ' 4.i;..k .' .�1.. . q..q : `�.�:..[`'.�i: `ti'�;;'t}� �. ,;i';� �. , :7'.:�. .i:b�, ""��.'��' �s' [P�.�;�tti�'^;x.; ,e.�si;r.+i � 1;S�.i i;' r�.+ �,.5 �'kr'� , Y•.:'.� s4t �� •�I�. ,�i�° � ':F ° .�..��_ 9�i'. : 7i' �S i:p" '3. , . ".� � . .. ,.t� . �.. ¢'I:,:i�5 ,.II' . , . . , '✓.'• . . J��Y°'�• ��!' .>:�"�'�', , i .�='� .'� "� �. j,,, "Je'�'; �, � G:3 i: ��v., �n.,..r .L: �l�: .:s ' - ;"?:`<�:i�t '�n!.i.. f �} �,"kJ ".i. f: , �_ ��y � ,';�.'';:,. .,�r�ii;,��'.t'JZ..� ). .A� :{:'�'h' .. �j' . �3: 3 �� 'i� t•}rV .ie °4�. �Ir�.�� l� 1"i "j•. 1 " .Ja•�r v..'.3� �� 5 .l. r;d" ,sr"; =.:�1'� .e .��t� ..t.r.R ftc;. s��r,4r r ��' i.' . '•i f `.x, >�* s{.: :•i . i z .,i' . Erv . {!.. '0 5 •.ir.;' 7t";;. .°6`• }: e�i. �e;''�i'' ir�� ':�� :�' �I•i• . •.}'•;''' °,r�•e } L. y• '�i[��' �3`�: ,t� •i� :�1� .}� i .:4 � P' Y•� •.r��'��' sa'% .:q}t• �r�,� :i,� ':t" '�. �"{p''k s' �.d. F i.":•1'f�— . : Y."C.: , �L�• !"�a. •`�{-... °i. 'e .�s;'.i: �„-{, r � +.�...s :t.��9......w�a.::.rw°w1:J..�w«f:s "..:ui«'.::.i:.... _ ..w _ .., ��..: >'..�`,�•^ ,yJ • :'�:s l�wsiii3t�s,:.. C.: #: �. �g� � - . ti� . : , � ,. $ � � �� .. � �, � � � => . � �� '; � � - .. �� fira►' ,,,y..:. �,+: '. . ...<: s�.:. �,,.. . . . r.,xy.... �, v��,oi�r: . - • . ; . . [ac .��. �'�.•. f�� fe`: ��4+%°i�d:.li�i=, r�= ��.y� i�j�tri! `�' :�:. .,>.�t. �"i1� �r' .s-a .i� d t {, . �$�.. .�i�" �`s �'r' _'ar_e. ,, . .�.�'f.. . ,_ . .��.�2�,��. r�4riF� .� general eirculatisn nr u finunaial journal published in t}�c E3orougt� of ManhaLtpn� City pnd State of New Yark� not less lttc�n sixly (60} days before sucli resignation shail iakQ affeet. Suet� resfgnntiort sl�ull tc�ke effect immedl�tely upon the npPolntment of e new �SCrow Hnlder hereunder, If such new Escrow }io�der shall be appointed hefare lhe ttm� limlted by such notice and sha11 then acce�t 1he dutles nnd abligptions lhereof. , Seclian iD. R.emoval af Lrscrow Holder. {a) �.,Tt�e Eserow Holder may be removed ai any tlme by an instrument ar concurrent instruments in writtr�g, execuled by the holders of not less ihan fifty-one �er centum (5�9�6) in aggregr�te prineip�l Amounl of each issue of Refunded Bonds then outstandin�, such instr�ments to be filed wit}� the Lssuer, and notie� in wr�tfr�g given by sueh holders to the original pur�naser or purchasers of the Refunded Bonds ar.d published ance in a newspaper of general cireulatian published in the Lerrltarial llmits af the I�suer, and in a daily newspaper of general circulation or a financial journgl publfshed in the Bcrrough of Manhettan, City �tnd Siat.e of New York, not less than sixty {60) days before suah removal is to take effect as stated in such insirument or instruments. Photographic eopy of eny instrumeni filed wiih the dssuer under !he provisions oi this paragraph shall be delivered by the Issuer to the Escrow Holder. , {b? The Escrow Holder may also be removed at any time for any breach of tr�at or for acting or praceeding in violation of, or far failing to aet ar proceed in accordance with, any provisions of this Agreement with raspect to the duiies and obiigetiar.s of the Eserow Halder� by any eaurt of campetent jurisdietion u�an the ap�licatian af the Issuer or. af the i�Qlders of not less i��n fi�e per centum �59b} in aggregate principal amount of the Refur�ded Bonds then outstanding. Section 11. Successor Escrow boZder. (a) If ai a�y time hereafter ihe Fsorow Halder shall resign, be retnoved, be dtssolved or ofherwise become Incapsble af aeijng, or shall be taken over by any governmental offleiel, agency, departmenL ar baard, the pasltion of Fserow Holder shall •:�t3�ereupon became vacent. If the pasttion af Escraw Holder shall beeame vacant for any of the foregoing reasons or for any other reason, the Issuer shall, but only with the written n��vat of ihe original purcheser af tt�e Refunded Bands, or the corporate successor ar suceessors of ihe orlginal purchaser, which approval shall not be unreasanebly withhe�d, sppoint an Eserow Holder to fill such vacaney. The Iss�er shall �ublish nolice of any s�eh apppointment once in eaeh week for [aur (42 successive weeks in a r�ewspaper of general �;..:u;a4;u,� �u1�1lshed In the terrilorial �mits of the Issuer and in � dai�y newspaper of L K L-0 i/14 /8 5-5 6 2 A-18 7 3 Ord, 3832--85 -8- �+/�F/85 .� .ac;.�= � � ��.:4' ��" _;'_ , . " � - . .. U'r' �..' �' `. ., x�. ._ . . . . , � .�wY.iy� f �5.. raM .. Lr ,{ .... ^I.� •• . .. � .. . .. Y1: .4'i�.. Se:��.�^� -W<✓' i y/a...�1Me+r. .'. °'1�._+s •��1t4.rm IY��at�.i1.� ';5:� ,�'...•,��,..� • .7,.. ,.� ; �._... r;'?;•... � z .. ; -s..,. ..�•r- r� wr� -a, i . � . • �.h.�4'.,% •y'. , , iJ' ' ��' ' ' '" ' ' e� �� 'r3 -.t•� !�v:::`s'' :i=. , . . . >. �t'.':��.w� �i �,jz., , :,C.),. :�; .��. �1..:1r. .f7 ��,.�. '`. •Fti. .F,. r.T'', . . � :1'_ '�f'e. , 1'�' � iE.K d��Y' ;�. %tt �'� iY—'.t�.. 'J" ��, �Y,a.l;:. Y. �J,. .k r'! `�i. ti':. .'F. �, '.ti. �`•i` �f:� {`_' y p.,:. y �} er'i i •u �r"' 'o� ':r'< "3��.':-�s .�'� �'. `ti� .t . �'tii :w x� �,o..� �'! : i", .:r^� �:Y � y r a Y;; � xt'•�:� s 9�'� ;.s"e:� t°%' - 4 i:�.. .�'�,... .F. h: ��L4f "5�^ � . ..d � � � '.F�- .•S' °F _ ..�..{�.a ,��a'� �� .L. _ . . +.�i 5 t , a! . � "' ; �.5�4."i':•. �}na ¢ �:.�.c . ,� :i�s .�7�' +� �.ts'.�`r�.�.%�l;y�'. T' ' a ' . '^� r � � .�; F b.E., i�d: ..'�n. .'lV !iY" J"`. .�3 .5:: w'l .T}::':��,..i•: ��ti:� yr'. y/' �1:,...,.�� r.F' r'3� ,J.��tw s3::. .fc. .hr'� y`�.;r;� q, ., Ct'�„e :i� ; �s`,, . '`.vC - iE ' , 'ta� .v�f � ��.• 'i' t�-�� :`f ,'P 'hi ,y.�-�v. pa nic' r5�. �i•� •;j'y.` a.s�, i !`:. .4.. �-1� �� i t �e 7 � F..�°� �ir.�. af`I .�' �. iSrv 'r�:: . �,�. +_'3.: °�J' .x'- ,s' �r` y� f-`�'� n.�i 1 ;-_ '„ . ', �.. y .k i�. 41�Ci. t �' i 5%% : i '•,, 'i a • . F' . _ ;v�'.Se' �.� s �.. :'�r '1 )o' li:a °} 1 ..9 a�, i`Ytl E• �11, . i. - !i'• '� 3 ?1,�. 1. . .�.., l�a il: •'Y� ,�;fJ �7u"��' c" !. ''� . .r `'i� �.°' rx .�i. ,�i.'i,i.,':i'.�:[:' '.f... ..s:,.f ��4'�, . '�7��' l�..r v.t.: i�.r ..�. ^h �,a'. , s}^• '�s°': 1+. -i�'- � e - �i • ,i�.J.s . j..,.• '..�..... - i :'1'} �:.. °'ai�r�i '�S r`n 'P.i' � y ,'i:' i• �_;�.:,:.9., e +� ' a 't�' , ^ g �,'. �'t .. t� 3' 'b :`+� `_t' s� '3�. J... ,{�....: `';" . � t ,915�c :i'' :i:`' ,�i•. :i �. . :f^ �,�i'�`i;"�' . '•a�. • �.a. 2 ,� � � R' ^''' �L p , �. ,r� � ,.p �,, ,'E�� °�a_o: °i' ,�. �.i�, . 'i � "fi ; � �� . JY�'1 b � .S.'a.. _ ;r Y. _ { t) r� � •�9`� A. '4' i�11 �j� '�•.I'� _ y,�� :{.�_' ' ,"� "" ,. ," : � ,,; . . . � ; , �y ,,...o ..,_ ..,� .,,. „ , .. .,, � .; � . .. .� . � ,.. ...,. ... , , m. : . ' .... . . .. ... ...: :.. . . . ;., -. .=�. : ;.,., ., v - .. . . .,� � .., •' • � -. . }, �.uJt+M3w++M�FA��sYS'd�Sic�N+yi�N`�'��,:.:�e.....'-n�.`,......,..1+-. .,c�.......�.�:^_-.�---- ---'.��s:.'a..�....i..�:>•..ata:.a.�� , ` a.l�f :' F . . . a';, � � ., , , . . ! , � . . � �° .I � ,.. ; 1 .. , � .., � . .. .;�: -.. � . :. � , . 4 �� general eirculalion or a t'inaneinl journal published in the Borough of Manhatt�r�, City and � Stnt� of NQw York� and, bef4re the sccond publlcatior� of sueh natiee shall mnil a copy thareof io tha orlgina� purchasQr or �urcl�dsers of the Refunded Bonds. (b) A1 any l[me within one yeur nfter sueiti vnenney ahall hove oecurred� thQ hold�rs of a majorlty in prineipnl umount of ench Issue of Refundeci Bonds Lhen ouislnnding, by nn Instrument or concurrent instrun�ents in writing, executed by �ll suct� bandhalders and filed, wtth the governing bady af the Issuer, may nppoint a suceessor � Eserow Halder, whtch shall supeti•sede any Escraw Holder theretofare eppointed by t�e i�sunr. Pi�ologr�phlc caples of each sUCh instr�ment shall be del3vered pramptly by the Issuer, lo the predecessor Escrow Hoide►� t�nd to the Escrow Holder so appoinied by ttte bondholders. � (c) If no appatntment of a sUCeessor �scrow Holder shs1l be made pursuant to ihe foregaing provisions of this seetion, the holder of any Refunded Bonds then ouistanding, or any retiring Fscrow Holder mey ap�Iy to any eourt of eompetenL jurisdiciian io �ppoint a sueeessor Escrow Holder. 5uch eaurt may lhereupon, after such notice, if any, es sueh court may deem proper and preseribe, appoint v sueeessor Fseraw Ha�der. Section ].2. Terra. This Agreement shall commence upon its execution and delivery and shall terminate when Lhe Refunded Bonds have been paid and discherged in accordance witt� t�e groeeedings auihorizing the Refunded �ands, and all smounis held , by ihe Escrow Holder hereunder have been a�p�ied in accordance herewith. Section 13. SeveraSil�ty. If any one or r�ore of the eovenants or agreements provided in this Agreement on the part of the Lssuer or t�e Eseraw Ho�der ta be periormed should be determined by e� �ourt of competent jurisdiction to be contrary to law, such covenant or agreements herein cont�iaed shall be null and vold and shall be severed frorn the remaining eo�ennnts and agreements anci shell in no wgy affeet the validity of the remeining pravisions of this Agreer�ent. Sectian 1�. Co�ntetparta This Agreement may be exeeuted in several eourtterparts, ell or ariy of which shall be regsrded for all purposes as duplicate ariginals and shall eonstitute and be but one and the same instrument. � Sectian 15. Gaverni� Law. This Agreement shall be construad under the i laws af the State of Flnrids. SeClion X6. Securit far Aa�cxmts atxi Funds. All aeaounts a=�d funds T��"mei�itiafned or held pursuani to ihis Agreement shall be continuousiy secured ir� tne same t LKL-01/24/85-562A-1873 Ord. 3832-85 -7- 4/�i/B5 a � �a � � �4r�'.�.:'�,�� 7 f��. �....�:; • �a�' ( � g' : %d';}° ��Yg�� -xa. G � ��'��e• - •-• .� � . ..i: �Gn `�" ;��» �• � .,�. 'i � ��f 3 ,v yr �'t. �e �_� .� .7'. . ` �S. �. r: �, f r, � �. 4. s-. :��.� �� Y�'; •-j: �� r� '�"..�� .r� � �` � �� a.,. � r: �. .w �, �� xx �ss : � � . ��Y��.��F�i��i's:'iih? � . _ . .G _ _ �wv.��t-.�•�_� . , . " "' •� � �' . ~�� .i��'.':,�� - - ,. . . .. � . . 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'� }�:t y�. 3: 5. � � � ,r�i �': �;7 . fj :t� �elt��<:t:x,H'* Y x�Y['7 3� ��. �1�t t � �'�� ^ •'.�'�'Fa�Q'Fr�' — ..a '�] �3,�� ii!}��I�� '��+w��.. 4'� x._ _ Tr�.,: �^ - - � �` t`t� � .. 3:5 � 3 � . Y� ��ai��ir � ' ' . . � • � � � � � i . '' i � � 1 mnnn�r ea otlier deposils of County funds are raquir�ed to ba soevred by thn Iaws of . �� i�lar�da. . �- ��•. IN WlTNii33 W}��nBOF� tha p�rtias Itersto have eQUSed thls Agreemeni ta � , bQ exeeutad by Lht�[r du�y auihorized offieera and thetr official set�Is to be hereunto � � � - t�� affixad an� attosted ns of the cinte fi t b v llt � rs a o e wr en. . THL' CITY QF CLBARWAT$R� PLORIDA (SEAL) � Mayor �' � ATT�ST: . � , � 4� � � , . . i I ' ' � ;;.. , � : .. . . . . i. . i . . .� . i � �. . � . < � �� , , COUNTERSIQNED: � C ty Manager . � � , � � es 8�erow Halder � _' � (SEAL) . . , ' � Attest: gy�Its:' • , l. . .. � Hy: -. � . . . � ' Its: , . . 'r , + �i : . , � � . o " '.1 . " � , ' �. . � � , . �.� �-: ..l � � .. . . � ' . ' . 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'1-:�' 4�.:i .-{.° ^sr',,td'.'-`^� �' r...1:'a' k,..l� i „nr'�r.` i:�S�.. :t .ti,�'.�q..Dl ('w,'< °srt l��'}.,'>,�' :P. .�i.�:�.�� GY3Sa:`.{'^l:.'�.ls,t�.. e..��'� rv."�. 19't° r� :v �;�,i .$��..ar.c�.� •�i�. :V:i,, 'ti�..�,. �;5.�;�..-.n'�..'.•`!• :�,��' :�' .t.� ,i�,. �r '.if•: ar�i. ¢.>...1.,, .s .s.�',_' u �i,i .t:: ..et �5.:`: - .`� - t '�� s ' w- . .;¢�. « ;�� :.>• • `�,i r�—'..: . " M, s �r... _�*�3��;x..4 s.�.-�Y.r=-�r. .n�--'!:x .r, ;t..t.. �:�ii�:%e :a�;�;ra..�'ti' '*.€.�'�, c�:•^.';.ih:._'.^_:as..r.:r�:�' :�s;:! '°..�.w ��4;]. Y::°lra-:;,:�� ,.di'�r>iC4'�,:• . __.�..,..,",..�.._.-y;'-��, '�?;`�j ' . , Z ` .�. i . ::: E : ' �'' � ;�:3''t, • r : v t-'g. .;�aL., �.f, .L.... `;u'' ,� , � ,w,ia'�..ii.tf.e.. :;,.�ii«w.a�:a::sr.ia�.i:.. �::r::,i,:i°��'v.:i:.�r..:.r'�wz.+a ::i{.Lti.��C�'.C�:4�r.�t3i . ��:,� _ a.1.� �� L, , � a � c � it . � . ,� . � - i � � , �; � w , �. , , , . � � � . ..i .' �,�� t ' - - � . .. : I � �. ' , t . ., � . � . .. � �. , '.�, ia )� f !� t� � i. .5 � S: �� m�� BXIii[�IT H (Form of Bonds} {�xe�pt Capitul Appreeiatipn Bonds) Na. R- UNITSD STATS� �OF AM�3RICA ; STA'�'g OF FLORIDA • CITY OF CI.IIARWATER PUSLIC SBRYICi3 TAX AND QRID(3S R�:VBNUB QOND� S8R1BS 1985 0 Rate oi interest Registered Hnlder: Pr[nclpal Amaunt: Mt�turit D�te Dated DutQ Cusi� KNOW ALL MBN 8Y Ti�i?3S PRffiBNTS, that the City of Clperwater� Florida, a munleipal corporatton of the Steto of Floridu ittarainufter ealied "Issusc"), far value rece�ved, hereby pramises to pa;y to thQ Registered Nalder iderotified above, or reg[etered essigns, an the Maturity Date idontlfied nbova, the Prineipul Amount shown ubove, solely from the reveaues hereinafter mentionQd, ond to puy solely icom suelt revenuesr interest or� said sum from the dete of this Bond or from the most recent Interest Payment date to which lnterest has heen paid, at the Ii.�te of lnterest per annum set farth abave until the payment af stieh principal sum, such interest being Payeble ot� , 1985, and semiannuslly thereafter on ' 1 and _ 1 of eaeh yee�r. The principal of and premium, ii any, on this Bond are pay�ble �pan Preeentatian and surrender hereof on the dete flxed for maturity or redemption at the principal afiice of tthe "Paying Agent") In , Flarida� ar at the ofiiee designated far such payment af any suceessor thereof, The interesi an thts Bond, when d�t� and payablQ, st�all be poid by check or draft mailed to th� kegistered Holder, st his eddress c�s it rsppears on the BoRd Register, at the ciose oi business on the Record Date or� '��in the e�ss of payment�sfter defeult, a sPeclal reeord date� as provided in the Ordinance hereinafter mentioned, All amounts d�a hereunder shall be payable In any coin or eurrency af thQ United States wh[eh is at the time of p�yment legal ter�der [or the payment of public or prlvate debts. Thls �ond ts one o[ t� duly auth�rized issue nf Bands af the Lssuer designated F'Public Servtee Tax and Bridge Revenuo Aands� Serles 1885T° in the aggregate principal. niiiuuut nt � � of llke tenor and efieet, exeept as to nvmber� date� LKL-Ol/17/85-582A-1873 Rev.Q3/13/65 �Rd. 3932-85 ..�_ �F/�/65 m � � w�.��i..-�� '-i.�._� ^ �' Yi � t � i. . ; . .. . . .. ' � � • • _.�Cr'-� G..�`:�� _ . ". . . , , . . � _•'+,i`-'� _ '�� " . � , `,' � , . . . . _ .�_ - . .. .. . • �� :�'�E.�r�+i^.4;t'.q:?..a+�'�.�t.�i�... ,r .,. , t� '""'`'`�w' :i' ` ..r:, .r..,, ::-s� �r.�ra':�,�.- e a:w�*q ��. +''^L�d�:yr�+�{,��erc:. 'y„�" ;�`7�-`i,.� : �u',�...;: , .c �,.1'. , ' ' " :S ;,�_:e.—i°3rS::,. �� ; ��iF!Y:�` �E. • . . .. ' � . �F. . : .:' ' j.a.�,�p�:.�.iy,:i," Lt_,f,� t,n �:. : �a �� . �e ''� �'1:,.•„;q'A ,`i", :.}, :i:� x€''°I'':C' �► 'irF=Ja s' u�� ,°�„ .'Rl'� < - -:E. .a;�f. �'} �}i .;ef'-.13,�5 ..�,.. �'!�� '3�� — ".Jl�' �i�,:''�`.•' .�i��:!'pyi)%. .i�. 'S� a`.��' 'I' ,.1 ,.f.�'�i't'�� a ,1 ♦��ic= �F: . f, �.j _} . '�" ..k'Y ..�..� ,"y..: E �f:tr ' �' w•t t 'ii� ''r.� .'f1� �. :�}.�' £: ry£, ..�.,,..,r..a;�?, • �. ,:;:€ :�j'.` `-d s,,• �- y �' •.��. t�(':. � . . ~e: ; �', t�:�e V'.f, �..: a.�.d.a,j' -.. i��•� .. . .'.i1r.a::,`�.;r=l ��°�.=r;• :�::..".'::i.' :�t;l�,'i �tt�'=.. =:i' t�Y 's .r. F" '.a: � �:.1t ,S «��;,,:i .:�;� "�a:'.a `'� i •f�: �•��• f �^� �i ' 1('i :.4-. r[y��' :1��`:�„� 1 t �i YF Il'f:�:`i+H�'�:�., i �` '�'j,' �€ ) e � ` f �' .d . -.i . G r.,7�.. :4 «�� ':a�r �,t''.:°: �'r .> 1., , s '��::` .t:;i'.;' r�A':; � £o-' �:t . r y� .:k; aa d ..� .. >'- :."�,. ;',; � x `�';'a � .°:?',iY.'v:�� x , €� G; li'',.: '�rw. ,i'c '.T. ''y^:�' 'L`�'� "F.:.a°i.' :{.� :�.�%� �i 5. ;7. ;a�' 13•, �ye .t�.i�� . �i`.;k` ,t '.'t-'•.,=y.r-'�".=,`�74' '¢,1M,�'v.,l�....�v�lww'-a+... "".y..•"P`S». °� cn'" t•1. :ii ',�ea.4 '•i�•.`', a z, :.�' �.H.'•.o: .�� ..�.s5�}:rv�,-.s�� ' `•i,3 �= . �T`'� . � ° `�f �'d' 7.��'�,'f•:CaY• �,°a° '�..y i r;: . n , o .iz:'s':. ". , r �.r_ ar `<�a�' "��' �rir,- ,., •au•. � .b° r3 e+�."^,7,��: i� ;�C:• '7.`.::�:'� "'{d.;,�,.:'. ,'��t .�ir»xh�• xa .� ��:,• 1.: z r �l . - •f' g .�.' Y,', .qr.'4 '-"., . 1: � 5.. A L• `r��' .i. s:,. .F�: ..i . `.. 9.�.:�y:' : � 4"e �v�e. 4?b }.:'��'.0 }_t,. ..e ;�. ::ry �.i' `'s�� _:it`''H��> i� .r. i"� 1 ,.v.� �[ �;.�i•.. : S , a �'�; : . i."�`. r�. Y °�.�.,..a „ �. .y'Zr ' 1.. :f�ai` .:°e�;.�L� %r�h� ;P t ..]7 �5�. .f�.F.. �r�:. ,�`.'-'3.. •f•°'al�{'r ,5•� �aka '•�'�� ;�t'� �..'f it^( J E. ��.. �,: �5. .. S�� c .. � chr �us'f4�J..: .��:`:'`'= !�' si: :tX:` .o; 'i�L ,:��J l.r,e°.'� .l.: !'�°':ii..�; .rx•_�. _ . : "�i� � .�.. ., `�.,.,.Y" `�t'ai �.4 �r.. =`i6", �i: �.4'.'a �rv�a�.�.: , '-ay..� ,.°s l.i�.6ic'�,ry;`....a ..,,.:.�,��.e; Vi:t":� r.�::��.w�..>...:� ' k!' - �,�c°.}3-.s. _,._,.�.,,tw:L7�t�fiiiNhS['.A�i�er,:�itc�:�..'��y::�.,t�a:,�:..,.:�,'��ii�+.'-"�_...'�n�...�:.._�.�.�«....�a�,��.a.�•s,::.�y�,.�. ,r � ..� . , ; � � �: � r. r a � � �� {.' �- � � , ;.�rf y Ya::.. matur:ty� Interest rate nnd redamption provisions, issued to finanee Lhe cost of refUnding the Issuer's Utilities Tax nnd Bridge Revenue Aonds, Series 1877 end Util[ties Tax Bonds, Series 197T, duted dune 1, 1877, �nd to finan�e the cost of cert�tn cupital pro�ects within the terrltarlaZ limits of the Issuer pursu�r�t to the nuthority of and in full eompliunce with the Constttutlon and lnws of the St�te of Flaridar including particularly Chapter 188,� 1*art lI, Florlda Statutes, nRd other uPplicab�e pravisions of law, ar�d pursuant to Ordinanee No. �� duly enacted by the lssuer on , as supPlsmented (he�einafter collectively called the "Ordinance"), and is sub jcet to ell the terms and canditions of such Ordinene�� thc provisions of whte� �re ine�rporated her�i� by reference. This Bond and the lssue of Bonds of w�ieh it is a part are speciel obligations af the �,sver paysDle solely fram and seaured by an irrevocable lien upon and piedge of (i) the net revenues derived by the Issuer f�om the operat�on of ths bridge across Clearwater Pa� between Cleerwater Heach and Sand Key in Pinel�as County, �lorida (the "Net Revenues'�), (ii3 the taxes levied and collected wlthin the area of the Issuer on th� purc�ase af eertain utilities servi�es pursuant to Section 166.231r �iorida Statutes (formerly 167.431, Florida Statutes), anci Article II, 1'ublie Servlee Tax� of Chepter 44, Taxation, of the Code af Ordin�nees, City of Clearwater {Code 1962} in effect on the date of adoption of the Ordinanee ss the same may be amended from time to time (the "Publie Service Tax'T)� and (i[i) the investmerit income on moneys heId in all funds and aeaaunts established under the Ordinanee (exeept the Public Serviae Tax Revenue Account) and the proceeds of the Bonds unt[1 �ppI�ed as provided in the Ordinance (such Net Revenues� Public Service Tax ar�d income anci proceeds hereinafter referred to as the "Pledged Revenues"}, all in the manner provided in the Orciinance. , This Bond does not constiEute a general obligation, ar a p�ec�ge oi the faith, cradit or taxing �ower of the L9suer� tt�e State of Fdorida or any politieal subdiviston 4hercof, wlthin the . meaning of �ny eonstitutional or statutary pravisian or limitation. NeIther the Ste�te of Florida nor any polItieal subdivfston thereaf, nor the lssuer shall be � oblige�ted il) to exercise its ad vatorem taxing power or any other texirig pawer in any farm on nny real ar persori�l praperty in the i�suer to pay the princ�pal of the Bonds, the ... ' i��1a��syl chsreon tir other costs ineider�t thereto or (2) to pav the same from any other �; funds af ths IssuQr, except from the Yledgeci Revenues, in the manner provfded herein and . In the Qrdinunce. It is [tirther agraed between the Lssuer and the Registered HoIder pi` J. _.... � . � • � � i , ; . i . � -� � � . LKI�D3/13/85-582A-1873 ORd. 3�32-45 0 -2- u/4/n5 �4 s;.�.r-;c,d�i o'�-' t• � _..'»:i�:'�� ; ,: ,� ..�c; ,�� - , � �:. �: � � �s s�-.""'"�'s�':'"�:`, . , .. .... . ;.: , : .. , -s . _, _:.-� ��;; --: ; .,, _ • , _ �, t : . .� _':;s-_ �.� ". - -� _ .'�.. :�'. -�- --- �.,....�:::�._._.---- ------ - - ._.v. � � _ s;.t.-. •�.i...�. .�-r<.:�.. ,. , . . , . . ..:.< . .-°F�:'•:�i- . _ - �n��vM: . ,:.1 . , :1, • ., . .. :r4,•,�:�` :;^z4'�:.T'^s'rs�r4�,�P�^T"s°..:. "„'.+ �x,�S.S,�,:.;.p .. .. , .. . .. .y�,, � '�P�� . . ' ' . ' . . . ' � � ;F � , , � '"S• �'i� t: � � . � ' �' "°i �� s .�5: ,j � I . .i _'ja. +Y�,1, �f;: :hti oG;�, C� '�r��` '1'' . .}� � �i. ��.; I:.�.F ;�q� . : s�, . °�t.r� ';�..�:- N` .r.�.".�,-� !t�i�� .Y:i,'• :t�' �.L.� � ��'e~ if. ��ti 'f:l.�:�'!'5,.+ fp�:. �l' '.l��' l�'E� S ' / 4+ t *�� .eSr �rJ�'�' . :l: .�:.' ��7!: i:�'. i r, . . f �. �s?'�` -Y: 1 e.� ,t.c. �i" ss- +.Ss .�F:•• °�A�T� F_•y�" �]••v .Y 4; �`�. L .» Y "�k' .�° �� h� .9. a .. . .. �.1`� 3� :! �'f -,i' ,i. ��" ".�: . . . .. . �1' .F .5�1 .'-d.� �• �`r° . rt .. fg.., . A. i: :['.r?��:{.�. 'f�.:. .C� ,i' „At,�..� i.. Y �� 'r .r� . ,�.• c, i? �� J« `ie' '��'�' 14: ;3'�. ��.., .;�; ,�j;, .9'• l .5.� '!.. ..i'rr :C.�. :+:4' rJ�'i �.s^.'.�` .2�F.. rY'�.`��.y:`; :. •=3 ' h- '.,l`.:,:..•. �'g{��'.5;..;�. `j�.::.;; �.Z ��4: ". P . "�' . 1 �{,F� : 3 ,;'4: i: �- �;4:; � �...ou , a' . .'C �:�,c� ,,�a i: r;j�'' ;�A'�1 si;•:i' � tt� s't `� -.�. .� �x>' 1 �R.. r'•. 1',1•� r` �•:i a 'ti.�� ' ��3' .�4 if:'�,.p�i S.�i�' �`�. .' t � ' � � ! Y�Sy,'' ie :Y.n ��;i�`.` T F- `,:.g;'xr"�:,'� :s., "Y's ^�F k'; `' '{^i +-,i;. L '.P'+ .i'" .� . :i:' •: r r � .'S'. , ' t-. ' °�.. i,w •� � � :',i: _ :.q : .,�. :a"' cF' �? :�;:. .�. L". � t . �': . . ,. , i�:. :, y,�. �'s� � '. t: ' - ' %Y : �`i� �q;.: ,`,- ; `t' :;, `K,' ;; _� ;yJ' tl.�' �;�� .J;:.�� a` C �;F: •f.' .F. "'f- :i� .:f:.'�'(` �! t 'si `!�. �'_i.;r, r:.. ,:� �,�� ' ' :3 "l , °i'; + 7 $'� ni' �. �:� o:y `i:b .�.-.� �i =¢c i� ac.r'� �i. 'a• s.s. ^:� �' - �, �~ —.g.. :� �.., :�6« r� � � i�.r : �1 :�_�: �? °p �;i. ,, ; ,' f. � ..¢ � t �.� .: .: c�S. .':,.s: ' t.r'; �P? .'-k�' ,°i: �5 .:�7� �'.l, y T, .' ".� � ' i • !�3 m � .�sr• "�r.° �.�i � .�i�w-'�_' E:� x,,,,�.;�' _ . ar - - . . . ��eMi?i«a�;w�ur.SC.:,.:.f' �.k...s_x...��..s.....i�: � ...... r..,u.., .. . . 4. • tY�: rv ;�.f�,� . .�. , _,._.:� , . ��'iiJ. . 0 E , a 1 . , . -� � � � this Borid that this Bond aztid the ir�debtedr�ess eviden�ed hereby shall nat eonstitute a lien an tlie Project or any att�er property of the Issuer, but shall constitu#e a llen onl� on the Pledged Revenuea, in the manner pravided tn the Ordinanee. E1N3SRT REUEMP'I70N PROVISION3} Bor�ds !n denomin�tians greater than $5,000 Prineipal Amount ior, in the eusa of Capttal Apprecic�tian Bonds, M�turtty Amount) shall be deemed to be an equtvalent n�tmber of Bands af the denomins.tion of �S,ODU Principu� Amount (or, ln the ease of Capital Appreciation Bands, Meturity Amount). Notice of redemPtion identifytng the Bonds or portions thereof #a be redeemed will �e given by the Registrar as provided [n the � Ordinsnce. All Bonds so ca1�Qd fvr redemption will eease to bear Interest after the specified redemption date provided funds for their redemption are an deposit at the plaee of payment at that time. . The Issuer has alsa covenantad and agreed with the Registered Ho2ders that it wIll not repeal. the ordinances now ln effeet le�ying the Publ[c Serviee Tax and will not amend or madify said ordinances�•fn any manner sa as to impair or adversely affeet the �ower and obligatian af the lssuer to levy and callect such Publta Service Tax or impair or adversely affect ln any msnner the pledge of sueh Pub1lc Serviee Tax or the rights of the Registered Holders of the Bonds and so long as any of the Bonds or the interest thereon are outstanding and unpaid, will levy and collect such Public 5ervice Tax, at the maximum rates Permitted by law, as will �lways provide funds in any Fiscal Year at least eqval to 1359�6 of the Bond Service Requirements becoming due in such Fiscal Year on the Bonds end 1U09�6 of all reserve and other payments to be made from the Public Service Tsx. The Issuer has entered into certain othec eorren.ants snd agreements respeeting thc Bonds, as to which reference is made to the Ordinaace. it is hereby certif#ed and recited that all acts, condit�ons and things required to exist, to happen and to be performed precedent ta and in t�e issuanee of thfs Bond exist, have happened and have been performed in regulsr and due form and time ss required by the laws and Constitutio� of the State of FIorida applicsble thereto, snd that the issu�nee of the Bonds of this isstie does not violate any constitutional or statutory limitations or pravisions. 3ubject to the provfsions of the Ordinanee respeeting registration, this Bond is and has all the qualities and Ineidents of s negntiable instrument t�nder the Uniform ' Commercial Ca�3e -�nvestment Securities of the Stata �f F1orlda. 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S �.'�i��'7 �irY ''c•' �:.�� .:t..«v�'�g. +'+x.��`�� F, } i ..�• F"� ` d��.`.,"= .5 ( �.':.�. -d ,S� �+C` 'i� I: + 1 S, ' °.� �' j T: s 5 'r: '§�.°. {� :s;� ' ' k ' •!�.'r .e}' S h .S I�:`,' '�{ - 4 '0�;,}5' � 1 ��!i. "e i � , r� 6•+ ..f�rr "f , ,;- / � �7 �;`tTd ,} �` ''� N� � S ��+j: �SE''�: ';t � R?r ,3 oi`. r � �i �{y � ?.i$ �k?-. � ;L�s f �' - 31: � {�. t e ":9 . .Y'�" •v`�m :,.1 � .e�' ��i.:'tic, n.tu.. �C. 7 :Y_.:sS �(i �.. . .�.....1' :T. �� I• �. �l: ?� �i .r� ..Ys 4'' �i(.. ef:°°i. ll;i t..G�:..�.�...°S� J:�v..a. .�t4. �'�Y. .H . . . ., = .: �' � i . . .: . , :�. ..i � . • i'•.. -'�' . e.. - .. � . ,L... x_Y_.. ... .:.. ..s'_:�...:..S:r_'::`.'-.'.:.w..:::" . _........ _-<..-�... t .... ......... ...... ..... ..�..... ...-.. ._._ . w.F:-;..�.Y!c�:l�..!:.^�" `.�"._......,..�,.�_..._._....L:_�.... __.-,....__..:� �X.«..... . .... ...... ... ,.....�e..... 0 g:i � , fi . . � � � ". �' d . ' � r� �. � � • „ ;xr � . ,. .- �r • . �rA � � � • 1 ��} ��j� /�`� ;�. �� ;. �:. �a�: :� :� f �. .J�� :��1 1 BubJact to tha llmltr�tions �nd upon paymerit ot tho ch�rgos Provtded in tha Ortlinanae� Bonds m�y bo exchanged for u llke oggregntQ Prine�pr�i Amount of I3onds of the same mnturtty of otirer nakhorfzed d�nominntlons, a�nd r�re transferable by the Reglgt+�red Holder in person ar hy hts attorney duly c�uthorized in wrlting at tha nbove-menttaned office of tho Registrar. • Thc Issuer shall deem and trent the Registered Holder hereof us the absoluto owner hereot Iwhether nr not th[s Bond sholl be nverduei for ths putpase of receiving payment of or an acaount of principal hereoi nnd interest due hereon and for al� other purposes, and the Issuer shall not be affected by any notice to the contrary. This Bond shall not be vaZid or become obligatory for any purpose ar be entitled to any security or benefit under the Ordinanee until the eerttflcate of auti�enti- cation endorsed hereon sha11 havz been duly signed by the Registrar. IN WITNES3 WHEREOF, the C�ty of Clesrwater, Florida, hss issued this Hond and has caused the same to be executed by the manuai or facsimile sign�eture af its Mayor-Commissioner and City Mar�ager� and attested by the manual or faesimile signature of Its City CIerk, and its official seal or a facsimile thereof to be affixed, impressed, f imprinted, iithographed or reprodueed hereon, as of , 1985. {SEAL) ATTEST: City Clerk Approved as to form and correctRess: � :,y�s nt�arney � LKLr03/13/65-S62A-1873 �rd. 3982-85 '! C1TY OF CLEARWATBR, FIARIDA Mayor-Comm ssioner City Manager -4- �1/4/#i5 � �„�'�!"s ��.� �;:a-- , • . " a�� '; �.t:m•_�`"�'�';� — , � `� , . . . ' ; �. , ' q ;r_ _ "z�-. -, . • :... ; ' . , , �,•.. .,� , �• ., .. �p• � K ✓ �� +CN#�Y,�iiYii��O�i9ti'i�lYIF37fi3�5��31"EN�'S�iCr�k�ri►ea . , � .� �El d ' . 7Mw !h, � CBRTiPICATB OF AUTHBNTICATION ON �OND RBCiiSTRA�i , � , , ,. • This Bond is one of tha Issuc of the wtthtR descrlbed Honds. T1�e Rmta of Interest, Matt�rlty Date, Re�istered Hnlder �nd Pr[nnlpnl Amount shown nbove nre corr�et in all . �, �; �•� `� . respects and hAVe benn rer,orded, ulorig with th� ttpplicable federal taxpsyer [dont4ficatlon ��V F . �. ' �• number und th� address of the Registered Holder� !n the Hond Register maintatned at the ,, �. . princigQl offiees of the undersigned. > �. �, . r Registrsc . . / , �,. �� Date of Regtstration and Auther�tication: ` . � By. Author zed O icer � �> ' � , � , ' ; . i . ; � �. . , . . . _ . . r ' � ' . � , � i � 4 ' . ti . ; • . . � � . ' � '. . P � . ' . . �. ' . . � , � . , r � . . ! . • , i ' ' ' v i� t • � t ,' '1 _ � .. . , ' � . '. � . S. . . . . ' ' - � ' �i � l 1• � � . '' . . , . • ? . . '� ,�. ' . . . , • ' . . . � . � . • . . , 1 . ' ' , , ' . • , ' � . . . � . � � . ' , t . , . - . . . . . . 1 51 . . � . � . . . ' , � , � . . .� . - , . . . ' '�. . . , . . ' ' � . � . ' • ' ' • `,, , r . , };� - ;..�ry : �i�'� . LK�r01/I7/85-562A-I$73 -5- � � ;,s` 1t . r . � §` ,: . , ^' , ' , �,!i� 1 �.�' � �� . ORd. 8932--85 � . � �+/�/85 � ,. „ ' f , .. " . . . '? . . s . . . , . . . ' � . , ' � � � � -- - ^ - '}a;�'"�i.i i�'aF .. •� . ,� s. ' ; "t:_;i . ' ' . ' " . � . , ' ' ' , ' . - ' , .' ' w�^..� ��u"ia. ��,.,;r!-`"��i:�_.y�� . .. .. , .., , ' �.,x.. . . . . .. , . �,�� . -z .. :Y;,'�:1. •....^;_. ; _. ' . . � , ".s�� - .`.. '• �:�. 4'ai�-i �t I+ , ' • ' ' ' . ' � " , ��: i�£�;+4 .... . �. . . . . . , " ' i . J . . .. . ' ' . . ' � . ' . �f'`. . r . os �` . .. . . . . . � .. . �. . � . � . , ;`ti,�� ,�.; s; : � A3SiaNMENT POR VALUE itgC3I3NED, the undersigned (tlte "Transferor"), hereby sells, nasigns, r�nd transfers unto � (Pler�se insert nume �nd Soeir�i Seeurity or Federal Fmployer ldentification numt�er of assi�nee} the within bond and ull righis thereundcr, und t�ereby: IrrevaeAbly constitutes nnd nppoints (the "Transferee") as atiarney to register ihe trnnsfer of thc within gond on the books kept for registrc�tton lhereaf, wit� tull pow�r of suhstitution in the premises. Dale: Signature Gu�,ranteed. N4TIC�: S�gnature s must Ue�guaranteed • by a member firm of the New York Stock Exchange or a eommercial b�nk or a trust company. � � ,. . .. i" . . NOTICE: No transfer will e cegistered and no new Bond will he issued in the name of the Transferee, un2ess the si�nature(s} to thts assignment corresponds with the name as it appears upor� the fsee of the within Bond in every partievlar, wlthout alterat{on or eniergement or any change whete�er anc� the Soeiai Security or �e��ral Emplayer identification Number of the 'I'ransferee is s�pplied. The following abbreviat[ons, when used in t�e inscription on the ?ace of the within bond, shall be constr�ed as thougt� they wene written o�t in full according to applieable laws or regtalations: T�N COM - as tenents in UNIF GIF MIN ACT - common Cust. TEN ENT -- as ten�nts by the Custodian ior entireties Minor JT TEN - as joint tenants with under Untform. Gifts to Minors Act right of survivor- of ship and nat as 5tate tenants irt common Addit{onai abbre�iations may also be used though not in I{st above. � LKL-OI/17/85-562A-1873 ORd. 3932-65 -S- 4/�1/65 � »:u� � ' I . . . ' � . .5*er±��M' Y�+:t."K 3: /w'x]-'y�;�...ia� .� . ... . � . 1 � . . .._ .r..�� °: �� _ :r[ . . ' . �� ., . . ` - ' ' r � '^`, _�_. _. .. . � , . . - , '• l . - , ' r.' -^ � .. .. .. . . . . � �. :=yr w , 3:5'y"�r^�*,'�#��?!;•.rt��Zx . .< . �f.� ;`, , . . ` '"t . 5 `�i'�J. .'.}} . '' " S =�i;�'�: .. �'4. . . . �.�f: . . � .. . ..'.f ti::�i ,. . . i., -- : ; s ;�' . ..y i � :e i� , � 4, , �; i' fi n _� . . �, , K , ,, >i . � „ � � � �� ... � .�:.. �� n � � ° - , •i.. . r.. ^ <'.tt•^Y . i`q" ° r«r. a : . � <. . � .. a.ns!�irt:.�v.� 7i,+Z �,}- : �;r�t,x�7f.:P • .�M�.S :?;+r-. A�f vi:� a� . . . . • . i. F , y.. � ' a v ':_iS'. i;': �`. . ��; • 'r',; 4-�:.�'ri,,. ,�i '� ',3•, . ..s,s,. �.t:, A:�`� `�,�''.: •f' .s. ,i . '�ii� l ,.t:.-� .5:.';`t;:Ci,.f.. ��v� �. �;��,:, r,k \ �.�i - .� i'Sy'Z ''r'�.1•.:: • r,. , '.. ':J �, •�y -,ki �f:.'J" �!.iCy ":`�'V f�r �..;1' 'wi5•'�'4.:,.. ' C .p'.+t.,'!. 7J'p'..2 x �+T"d' � �1 ,�i ��y/ ✓.-w.-. \� ! .f'. ``5 '�'��,��,�rl��`�s9:"�'1r�.f��.', il.� :s'_ .,�`:" ::,", .p�,�':, ,..�¢rtdxi7Fa�,i.:�_.`.r'.�S`';�'�.";r��;,+�.,t:� :,ruP �'''j,�, i..s.`'+i��rx A�._��s�;�i.� Pi; �3�'��'a�'+.' t�i f.,;';,�,.,�'.�s ;27�` s}e3 i d•v s-� ;.' ;r .^�.^ � �:; r�� r��;: 7•• . �°�t'��a:.' r ., ;q+°�'., �r„� i��;i : ,:�:s�1�y. � 7 %�"� #�`,ic. : z� ,2� ,5�,�,,�� 3;•.�`t .� a,�n��:}'' r.�t��:�: iv^'- .w.p.-`�' i'�, �f.� : rr•'ti,£� `s . : :e.� � f��, ' .so r�. � S<. ' lLy.,..��;!�y ; �! �:� ,.•� e':,:>,f': �i^i::��7f}?�i.;�r "%�t� <» :.)'si'�.✓'' `•y' `;%..��s'';- "•.^i��wP.ri : s' ',S'1�.�.i,'l`�;er. : h n �. s,' °b• ,:i"°`'�co- .� x. ,`f, �v�.n; .r;:}.�: ��'.�j�., .-?�{;ij..,j'�."°:� . y,p�; '�� , • �r ..y _r, ';• ".e�: :.': .: S i":s... d i: x :.;p!'7•;°?�. •�i.' ;..1� �� '+.;�14?r?i'. a,y'r:; «�r d�•a;S�;?, �_: ,s�1` �`. `,��r�Yi3. 'J''�.`. . . `;`, .�» �`.�'�� ., 3:.!'�:.N`�;.. . -y.s:o_,_°.:i . .. ...... . ... . . ...... . .... �j.:_+�`�:.:c...._.._... . . . _ ._� ..� _ .. - - - . , L'y)ar'. � � (�`orm af Capitai AppreciQtion 13onds) • THE iiBADINC38 AN7 Ti�� FIRST PARA(3RAPH OP THB CAPITAL ' �� APi'RECIATION DQND3 S�lALL READ A5 PQLI.OWS, AND TH�i RBMAINDBR OF Si1CH FORM SIiALL HB THB SAMi3 A� FOR OTl�I3R BONDSs � .> : � �� : � y � ;' .� e � . � � - ; � . . . . ", . :`^� �:a,„„ No. CA- UNITBD STATB3 OF AMBRICA $ STATI3 OF FLORIDA ., � CITY OF CLEARWATER PUHLIC S�:RVICE TAX AND EiRIDGB RBVBNUB BOND, SBRIES X885 Annual Yleld Original Prineipal { Approxtmate? Amount Reg�stered Halder: Principal Amount: Matur;t3i Date Date of Ori�inal Lssue Cusip KNOW ALL MEN BY THBSE PRFSBNTS, that the City of Clearwater, Plarida, � a rriunicipal corparetion of the State of Florida {hereinattsr called "lssusr"}, for value received, hereby promises to pay to the Registered Holder identified sbove, or registered assigns, on the Msturity Date identified 8bove, the Maturlty Amount shown �bove, solely from the revenu�s hereinafter mentioned. The Original Prineipal Amaunt identified aba�e will accrete from the Date of Original Fssue at the approximate Annuel Yieid identified abo�e (subjec# to the rounding of the Aocreted Veiues}� compounded 8s determined by the Ordinance herelnafter mentlaned. The Accreted Value will be paid on the Maturity Dete (or upon earlier redemp#ion) but Qnly upon presentation and surrender of this Bond, pronided that at maturity or upon sarlier rsdemption hereof, the Aecreted Yelues {per $5,040 Maturity Amount) as set forth in the Table of Aecreted Values on the reverse side af this Bond shell det�rmine the total amount due {pe: �5,000 Msturity Amaunt),to the Maturity Date flr �ate of redemption. Principal of, premium, if any, and interest o� t�is .r .•-; Hond are paysble lr� any coin or eurreney of the United 3tates which at the time af payment is Zegal ter�der for the payment of publlc or private debis. The Accreted Va�ue �of this Bond shall be payable upor� �resentatlon ar�d surrender hereaf on the Maturity D�tte or the date fixed f4r redemption et the carporate trust offfce of {the "Pay�ng Agent") in � ar at the offtea designated for such payr.�ent af eny sUCCessor thereof. ��, LKL-pl/17/85-5fi2A�1873 Ord. 3932-�5 r. -7- � �/N/85 . .�.`.�+�+,!+F�y��=�s�- .h° :;... ��-'; :�"��'�� ^ — � ' ° . . • . ..t� � f � . . - �� i 5�:1 �� • ��,{1