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ORDINANCE NO. 3440-84
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AN ORDINANCE AMENDING ORDINANCE NO. 3329-'83 OF THE
CITY OF CLEARWATER, FLORIDA, DULY ENACTED ON
DECEMBER 15, 1983, TO AUTHORIZE ISSUANCE OF FULLY
REGISTERED BONDS; PROVIDING AN EFFECTIVE DATE.
BE IT ENACTED BY THE CITY OF CLEARWATER, FLORIDA:
SECTION 1. AUTHORITY FOR THIS ORDINANCE. This ordinance is
enacted pursuant to the provisions of Chapter 180, Florida Statutes, the Registered Public
Obligations Act of Florida, Chapter 83•-271, Florida Statutes (the "RPOA") and other
applicable provisions of law.
SECTION 2. FINDINGS. It is hereby ascertained, determined and declared
that:
(A) The City Commission of the City of Clearwater, Florida (hereinafter
called "Issuer"), on December 15, 1983, duly enacted Ordinance No. 3329•-83, entitled:
"AN ORDINANCE AMENDING ORDINANCE NO. 3176-03 OF THE
CITY OF CLEARWATER, FLORIDA, TO CHANGE THE DEFINI-
TION OF THE PROJECT TO BE FINANCED; PROVIDING FOR
THE ACQUISITION AND CONSTRUCTION' OF EXTENSIONS AND
IMPROVEMENTS TO THE GAS SYSTEM OF THE CITY OF
CLEARWATER, FLORIDA; AUTHORIZING THE ISSUANCE BY
THE CITY OF NOT EXCEEDING $8,650,000 GAS SYSTEM REVE-
NUE BONDS, SERIES 1983, TO FINANCE THE COST THEREOF;
PLEDGING THE NET REVENUES OF THE SYSTEM TO SECURE
PAYMENT OF THE PRINCIPAL OF AND INTEREST ON THE
BONDS; PROVIDING FOR THE RIGHTS OF THE HOLDERS OF
THE BONDS; PROVIDING AN EFFECTIVE DATE."
(hereinafter called "Ordinance").
(B) In order to assure that the interest on a total of $8,650,000 Gas System
'Revenue Bonds, Series 1983 (the "Bondst°) remains tax-exempt under the United States
Internal Revenue Code of 1954, as amended, it is necessary to amend the Ordinance to
provide for the issuance of the Bonds in fully registered form.
(C) It is further the intent of the Issuer, in adopting this ordinance, to
establish a system of registration for the Bonds, within the meaning of the RPOA.
SECTION 3. AMENDMENTS TO ORDINANCE. The Ordinance is amended in
the following manner:
(A) Section 2 of the Ordinance is hereby amended to add the following
definitions:
(El) "Bond Registrar", or "R istrar" shall mean the officer of the Issuer
or the bank or trust company which the Issuer may from time to time designate to
perform the duties herein set forth for the Registrar of the 1983 Bonds.
LKL-02/01/84-303-1192
Rev.02/02/84
Rev.02/03/84
Rev.02/16/84
Ord. 3440-84 3-1-84
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('I`i) "paying Agent" shall mean the officer of the Issuer or the bank or
trust company which the Issuer may from time to time designate to serve as paying agent.
(U1) "Registered Owners" shall mean those persons whose names and
addresses appear on the registration books, at the point in time when registered ownership
is to be determined unless a contrary intent Is clearly indicated by the context,
maintained by the Bond Registrar.
(B) Section 7 of the Ordinance is hereby amended to read as follows:
11SECTION 7. DESCRIPTION OF 1983 BONDS. The 1983 Bonds shall be
numbered consecutively, from one upward; shall be in the denomination of $5,000 each or
integral multiples thereof; shall be dated; shall bear interest at such rate or rates not
exceeding the maximum rate allowed by law, such interest to be payable semiannually on
such dates and in such years and amounts; and shall mature in numerical order, lowest
numbers first, on such dates and in such years, and in such amounts all as shall be fixed by
resolution or ordinance of the Issuer adopted prior to the delivery of the 1983 Bonds.
"The 1983 Bonds shall be issued In fully registered form, without coupons; shall
be payable with respect to both principal and interest, If any, upon presentation and
surrender thereof on the date fixed for maturity or redemption thereof at the office of
the Bond Registrar; shall be payable in any coin or currency of the United States which at
the time of payment is legal tender for the payment of public or private debts; and shall
bear Interest from such date, but not earlier than the date of the 1983 Bonds, as is fixed
by subsequent resolution or ordinance of the Issuer, payable in accordance with and
pursuant to the terms of the 1983 Bonds,
"Interest on the 1983 Bands shall be paid by check or draft mailed to the
Registered Owners, at their addresses as they appear on the Bond Register, at the close of
business on the 15th day of the month (whether or not a business day) next preceding the
interest payment date for the 1983 Bonds (the "Record Date"), irrespective of any
transfer of the 1983 Bonds subsequent to such Record Date and prior to such Interest
payment date, unless the Issuer shall be in default in the payment of interest due on such
interest payment date. In the event of any such default, such defaulted interest shall be
payable to the Registered Owners at the close of business on a special record date for the
payment of defaulted interest as established by notice mailed to the persons in whose
names such 1983 Bonds are registered at the close of business on the fifth (5th) day
preceding the date of mailing.
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"if the date for payment of the principal of, premium, If any, or Interest on
the 1983 Bonds shall be a Saturday, Sunday, legal holiday or a day on which the banking
institutions in the city where the corporate trust office of the Paying Agent is located are
authorized by'law or executive order to close, then the date for such payment shall be the
next succeeding day which is not a Saturday, Sunday or legal holiday or a day on which
such banking Institutions are authorized to close, and payment on such date shall have the
same force and effect as if made on the nominal date of payment.
"The 1983 Bonds may be Issued or exchanged for 1983 Bonds in coupon form,
payable to bearer, in such form and with such attributes as the Issuer may provide by
supplemental resolutions, upon receipt of an opinion from a nationally recognized bond
counsel that such issuance or exchange will not cause interest on the 1983 Bonds to be
includable in gross income of the holder for federal income tax purposes."
(C) Section 8 of the Ordinance is amended to read as follows:
"SECTION S. EXECUT ON OF BONDS. The 1983 Bonds shall be executed in
the name of the Issuer by Its City Manager, countersigned by its Mayor-Commissioner and
attested by its City Clerk, and its official seal or a facsimile thereof shall be affixed
thereto or reproduced thereon. The 1983 Bonds shall be approved as to form and
correctness by the City Attorney of the Issuer. The facsimile signatures of such officers
may be imprinted or reproduced on the 1983 Bonds. The Certificate of Authentication of
the Bond Registrar, hereinafter described, shall appear on the 1983 Bonds, and no 1983
Bond shall be valid or obligatory for any purpose or be entitled to any security or benefit
under this Ordinance unless such certificate shall have been duly executed on such 1983
Bond. The authorized signature for the Bond Registrar shall at all times be a manual
signature. In case any officer whose signature shall appear on any 1983 Bonds shall cease
to be such officer before the delivery of such Bonds, such signature or facsimile shall
nevertheless be valid and sufficient for all purposes the same as if he had remained in
office until such delivery. Any 1983 Bonds may be signed and sealed on behalf of the
Issuer by such person who at the actual time of the execution of such Bonds shall hold the
proper. office with the Issuer, although at the date of enactment of this Ordinance such
person may not have held such office or may not have been so authorized.
The validation certificate on the 1983 Bonds shall be executed with the
facsimile signature of the Mayor-Commissioner. The Issuer may adopt and use for such
purposes the facsimile signature of any persons who shall have held such office at any
time on or after the date of enactment of this Ordinance, notwithstanding that he may
have ceased to be such officer at the time the 1983 Bonds are actually delivered.
LK"2/03/84-303-1192
Ord. 3440-84
-3-
3-1-84
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(D) Section 9 of the Ordinance is amended to read as follows,
"SECTION 9. NEGOTIABILITY AND REGISTRATION. A. NEGOTIABILITY.
The 1983 Bonds shall be and shall have all of the qualities and incidents of negotiable
instruments under the Uniform Commercial Code - Investment Securities of the State of
Florida, and each successive holder, in accepting any of the 1983 Bonds shall be
conclusively deemed to have agreed that such Bonds shall be and have all of the qualities
and incidents of negotiable instruments under the Uniform Commercial Code-Investment
Securities of the State of Florida.
"B. REGISTRATION AND TRANSFER. There shall be a Bond Registrar for
the 1983 Bonds which shall be a bank or trust company located within or without the State
of Florida. The Bond Registrar shall maintain the registration books of the Issuer and be
responsible for the transfer and exchange of the 1983 Bonds. The Issuer shall, prior to the
proposed date of delivery of the 1983 Bonds, by resolution designate the bank to serve as a
Bond Registrar and Paying Agent. The Bond Registrar shall maintain the books for the
registration of the transfer and exchange of the Bonds in compliance with an agreement
to be executed between the Issuer and such bank as Bond Registrar on or prior to the date
of delivery of the 1983 Bonds. Such agreement shall set forth in detail the duties, rights
and responsibilities of the parties thereto.
"The 1983 Bonds may be transferred upon the registration books, upon delivery
to the Registrar, together with written instructions as to the details for the transfer of
such 1983 Bonds, along with the social security or federal employer identification number
of such transferee and, if such transferee is a trust, the name and social security or
federal employer identification numbers of the settlor and beneficiaries of the trust, the
date of the trust and the name of the trustee. No transfer of any 1983 Bond shall be
effective until entered on the registration books maintained by the Registrar.
"In all cases of the transfer of the 1983 Bond, the Registrar shall enter the
transfer of ownership in the registration books and shall authenticate and deliver in the
name of the transferee or transferees a new fully registered 1983 Bond or 1983 Bonds of
authorized denominations of the same maturity and interest rate for the aggregate
Vvinu,paL amount which the Registered Owner is entitled to receive at the earliest
practicable time in accordance with the provisions of this Ordinance. Any 1983 Bond or
Bonds shall be exchangeable for a 1983 Bond or Bonds of the same maturity and interest
rate, in any authorized denomination, but in a principal amount equal to the unpaid
principal amount of the 1983 Bond or Bonds presented for exchange. Bonds to be
LK L-02 /1 B /8 4-30 3-1192
Ord, 3440-64
-4-
3-1-84
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y.?d ySi?i:??;?\.b' s. - ` ,. ,k: t. i'1." ",•,,?. ,,.7' ?./„ri,'. yi1'. :a .?',P..i.t'.".i'. '*a+
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s ?! y 4?r ????.??yyyy,,,, • y,• ,k 4 .S•'. 5.. >b: 'i t t . •t#,' - ,,5:? a .?.., S
E '.r rt?k ?? '?#?.- ;? t,y?°•;;? ?a}` .GS ?e ,xr't A i
Z1{{`n !
K^ .•it..?.... w". ! :i ,??..:::?:u!rt?` ??hi?:rttt_'A_?t'seti •4• f :?, s4`i?•
r ? ?? 5 exchanged shall be surrendered at the principal office of the Registrar, and the Registrar 'X_: '.
shall deliver in exchange therefor the 1983 Bond or Bonds which the Bondholder making &{,3 f
yW
?` kE the exchange shall be entitled to receive. The Issuer or the Registrar may charge the
Registered Owner of such 1983 Bond for every such transfer or exchange
, an amount
sufficient to reimburse them for their reasonable fees and for an tax fee or other
01! 'A
__T ,• tip governmental charge required to be aid with respect to 1.'? •'s3 ''i;''j` sh ''' +,"
p such transfer or exchange, and .,,3:.,?;?&?i?,???;,??.? a ? 5)'"•
?' •, ?'1rW` r : 'S 7t= `rf? ? •3/"3??1.y?% . y Y {?z yr?s??`Y
k.. 4y 6•^i!"t.'i g •2C' ?{?il•.f;,"'M..:a"r5 1 1 ?riVri
?tf k may require that such charge be paid before any such new 1983 Bond shall be delivered.
n
' "All 1983 Bonds delivered upon transfer or eyYF
xchange shall bear interest from '?i;'?"`` ?•'?'?`?? ?? w y??? . t?
such date that neither gain nor loss in interest shall result from the transfer or exchange. ' M?:kT "All 1983 B
onds presented for transfer, exchange, redemption or payment (if : y„ak;Yy,q?p s; ,-
).,? so required by the Issuer), shall be accompanied by a written instrument or instruments of ?y "el, 71,
3 ?-??'••?. , .'?
t ' r^ 'T Ss• 5
Sk ra '?? °` transfer or authorization for exchange, in form and with
guaranty of signature satis- .??1?? ???$???• : ;?
factory to the Issuer and the Registrar duly executed by the Registered Owner or by his
duly authorized attorney." °t-
rv U ?' (E} Section it of the Ordinance Is hereby amended to read as follows:
r . } 5 t s. x Y+
'cox "SECTION 11,. PROVISIONS FOR REDEMPTION. The 1983 Bonds shall be
jk redeemable by operation of the Bond Amortization Fund or at the option of the Issuer, as '
' h ;d
provided by subsequent resolution or ordinance of the Issuer adopted prior to delivery of
1G? t. _tlh
t each installment of the 1983 Bonds. The 1983 Bonds in denominations greater than $5,000 `? ° t GM ^> ,''
INN.
shall be deemed to be an equivalent number of 1983 Bonds of the denomination of $5,000.
'??.
In the event a 1983 Bond is of a denomination greater than $5,000, a portion of such may :.•, ?kr <.'..)
4"+ }
be redeemed, but 1983 Bonds shall be redeemed only in the principal amount of $5,000 or k.,?• ?_ , ? t
any Integral multiple thereof. In the event any of the 1983 Bonds or portions thereof are,
redeemable as aforesaid, notice thereof Identifying the 1983 Bonds or portions thereof to
be redeemed will be given by the Registrar (who shall be the Paying Agent for the 1983` 1 a
Bonds, or such other person, firm or corporation as may from time to time be designated
by the Issuer as the Registrar for the Bonds) by mailing a copy of the redemption noticeti Y
by first-class mail (postage prepaid) not more than thirty (30) days and not less than
fifteen (15) days prior to the date fixed for redemption to the Registered Owner of each
1333 Bond to be redeemed in whole or in part at the address shown on the registration
books. Failure to give such notice by mailing to any Registered Owner of Bonds, or any
defect therein, shall not affect the validity of any proceeding for the redemption of other
Bonds. All 1983 Bonds or portions thereof so called for redemption will cease to bear
Interest after the specified redemption date provided funds for their redemption are on
deposit at the place of payment at that time.
LKL-02/16/84-303-1192 -5-
Ord. 3440'-84 3-1-84
a
I
• , ' 0 a
"Upon surrender of any 1983 Bond for redemption in part only, the Issuer shall
issue and deliver to the Registered Owner thereof, the costs of which shall be paid by the
Registered Owner, a new 1983 Bond or 1983 Bonds of authorized denominations in
aggregate principal amount equal to the unredeemed portion surrendered.
"Whenever any 1983 Bonds shall be delivered to the Bond Registrar for
cancellation, upon payment of the principal amount thereof, or for replacement, transfer
or exchange, such 1983 Bonds shall be cancelled and, upon request of the Issuer, destroyed
by the Bond 'Registrar. Counterparts of the certificate of destruction evidencing any such
destruction shall be furnished to the Issuer."
(F) Section 12 of the Ordinance is hereby amended to read as follows:
'SECTION 12. FORM OF THE 1983 BONDS. The text of the 1983 Bonds, and
the certificate of validation shall be in substantially the following form with such
omissions, insertions and variations as may be necessary and desirable and authorized and
permitted by this Ordinance or by any subsequent ordinance or resolution adopted prior to
the issuance thereof:
4I{L-02/16/84-303-1192 -6=
,`:`` ' .',,,-.,.'Ord. 344044: 3.1-84
l'y
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1
4
(Form of 1983 Bond) "
No. $
UNITED STATES OF AMERICA
STATE OF FLORIDA
CITY OF CLEARWATER
GAS SYSTEM REVENUE BOND, SERIFS 1983
Rate of Interest Maturity Date Date of OrlKinal Issue
1
C• usie
Registered Holder:
Principal Amount:
KNOW ALL MEN BY THESE PRESENTS, that the City of Clearwater, Florida
(hereinafter called "City"), for value received, hereby promises to pay to the Registered
Holder identified above, or registered assigns, on the Maturity Date specified above, the
Principal Amount shown above solely from the revenues hereinafter mentioned, and to pay
solely from such revenues, interest on said sum from the Date of Original Issue of this
Bond or from the most recent interest payment date to which interest has been paid, at
the rate of interest per annum set forth above until payment of such sum, such interest
being payable , and semiannually thereafter on the first day of
and the first day of of each year.. The principal of and premium, if
any, on this Bond are payable upon presentation and surrender hereof on the date fixed for
maturity or redemption at the corporate trust office of
(the "paying agent") in Florida, or at the office designated for such
payment of any successor thereof. The interest on this Bond, when due and payable, shall
be paid by check or draft mailed to the person in whose name this Bond is registered, at
his address as it appears on the Bond Register, at the close of business on the 15th day of
the month (whether or not a business day) next preceding the interest payment date (the
"Record Date"), irrespective of any transfer of this Bond subsequent to such Record Date
and prior to such interest payment date, unless the City shall be in default in payment of
interest due on such interest payment date. ' In the event of any such default, such
defaulted interest shall be payable to the person In whose name such Bond is registered at
the close of business on a special record date for the payment of defaulted interest as
established by notice mailed by the Registrar to the Registered Holder of the Bonds not
less than fifteen (15) days preceding such special record date. Such notice shall be mailed
LKL-02/03/84-303-1192 -7-
Ord. 3440-84
3.1-84
•3
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!? 5 L :? iJ"' .t ..s 'S•'-' x. Ali S < i.. „?. .t,x. :i',..k i''y," a t: iy?fV ?t[wc. "i
-it" n's? •, S'• - ;Y 'r•''1...: k,? ;r.F - Ei? i?+,r.. e.,r A- (f[
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~??,• t I .?s4 +J'''•? "? ?.=r` ? . .y`'1". . ? 1. J.,1y.. _ ?1?! ? • y r'Y?i?, Q .i
to the person in whose name such Bond Is registered at the close of business on the fifth
(5th) day preceding the date of mailing. All amounts due hereunder shall be payable in
{f
6any coin or currency of the United States, which Is, at the time of payment, legal tender
fsR?4i r ` for the payment of publlc or private debts.
This Bond is one of a duly authorized issue of Bonds In the aggregate principal
:aA iX11
r,;;£rt„? amount of not exceeding $8,650,000 of like date, tenor and effect, except as to number,
installments, maturity and Interest rate, issued to finance the cost of the construction and
s?,"'• acquisition of additions, extensions and improvements to the gas system of the City (the
"System"), pursuant to the authority of and in full compliance with the Constitution and
laws of the State of Florida, including particularly Chapter 1BO, Florida Statutes, the
Registered Public Obligations Act of Florida, Chapter 83-271, Florida Statutes, and other
'-
applicable provisions of law, and Ordinance No. 3178-83, duly enacted by the City on July
21, 1983, as amended and supplemented (hereinafter collectively called the "Ordinance"),
"' r • " and is subject to all the terms and conditions of such Ordinance.
-' This Bond and the Issue of Bonds of which it Is a part, are limited obligations
Y a ° .[
w ; of the City payable solely from and secured by an irrevocable first and prior lien upon and
pledge of the net revenues derived by the City from the operation of the System (the "Net
?.w Revenues") in the manner provided in the Ordinance, This Bond does not constitute an
indebtedness, liability, general or moral obligation, or a pledge of the faith, credit or
taxing power of the City, the State of Florida or any political subdivision thereof, within
the meaning of any constitutional, statutory or charter provisions. Neither the State of
Florida nor any political subdivision thereof, nor the City shall be obligated (1) to levy ad
' valorem taxes on any property to pay the principal of the Bonds, the interest thereon or
' other costs incident thereto or (2) to pay the same from any other funds of the City,
except from the Net Revenues, in the manner provided herein. It is further agreed
between the City and the Registered Holder of this Bond that this Bond and the
indebtedness evidenced hereby shall not constitute a lien upon the System, or any part
thereof, or on any other property of the City, but shall constitute a lien only on the Net
Revenues, in the manner provided in the Ordinance.
(INSERT REDEMPTION PROVISIONS)
Bonds in denominations greater than $5,000 shall be deemed to be an
equivalent number of Bonds of the denomination of $5,000. In the event a Bond is of a
denomination larger than $5,000, a portion of such may be redeemed, but Bonds shall be
redeemed only in the principal amount of $5,000 or . j integral multiple thereof. In the
LKL-02/03/84-303-1192 -B-
Ord. 344084 3-1-84
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?5- + ^i• .n t?i?E?M °.:q ;M.'. 't:°.;: ,+ . ;•i'r{i' •?' s`i'". n` :ti:j''.F a S., s.+ . ij.4, . gCJr:'^ . `.J. -E. Lr! h?', ''?? 4..y a.r i ?a?f!r ff?kiC +,.
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event any of the Bonds or portions thereof are called for redemption as aforesaid, notice
thereof. Identifying the Bonds or portions thereof to be redeemed will be given by the
Registrar (who shall be the paying agent for the Bonds, or such other person, firm or
corporation as may from time to time be designated by the City as the Registrar for the
Bonds) by mailing a copy of the redemption notice by first-class mail (postage prepaid)
not more than thirty (30) days and not less than fifteen (15) days prior to the date fixed
for redemption to the Registered Holder of each Bond to be redeemed in whole or in part
at the address shown on the registration books. Failure to give such notice by mailing to
any Registered Holder of Bonds, or any defect therein, shall not affect the validity of any
proceeding for the redemption of other Bonds. All Bonds so called for redemption will
cease to bear interest after the specified redemption date provided funds for their
redemption are on deposit at the place of payment at that time. Upon surrender of any
Bond for redemption in part only, the City shall issue and deliver to the Registered Holder
thereof, the costs of which shall be paid by the Registered Holder, a new Bond or Bonds of
authorized denominations in aggregate principal amount equal to the unredeemed portion
surrendered.
If the date for payment of the principal of, premium, if any, or interest on this
Bond shall be a Saturday, Sunday, legal holiday or a day on which banking institutions in
the city where the corporate trust office of the paying agent is located are authorized by
Law .or executive order to close, then the date for such payment shall be the next
succeeding day which is not a Saturday, Sunday, legal holiday or a day on which such
banking Institutions are authorized to close, and payment on such date shall have the same
force and effect as if made on the nominal date of payment.
(To be inserted where appropriate on face of bond: "Reference Is hereby made
to the further provisions of this Bond set forth on the reverse side hereof, and such
further provisions shall for all purposes have the same effect as if set forth on this side.")
In and by the Ordinance, the City has covenanted and agreed with the
' Registered Holuars of the Bonds of this issue that It will fix, establish, revise from time
to time whenever necessary, maintain and collect always, such fees, rates, rentals and
other charges for the use of the product, services and facilities of the System which will
always provide revenues In each year sufficient to pay, and out of such funds pay, 1009 of
all costs of operation and maintenance of the System In such year and all reserve and
other payments provided for in the Ordinance and 125% of the bond service requirement
due in such year on the Bonds of this issue, and on all other obligations payable on a parity
LKL-02/03/84-303-1182 -g-
Ord, 3440-84
3-1.-84
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WA ys_3 _ `;w'°,i. f •+. ?f,',:;kr.r ;'+ :'?i,p.#,•t.:':,.;:rf'SIJ?:1?gF'•:
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,„,:? .n}! i• ,L::s? ?c•r"+- m StY,: .?: °i,:•:,: ?%;. it'i.: ., y'::'t -Se1"'r .]•;?i? • ??:-.af
a ra '. Y,' •,'?i. .f:. .S° r4. •''•' b ° '.4.? ?k'\.?'• y ?7•'•».?'S.
"j. •?? .+' r... ;f •?p. ,r.? ":•i'."?!''•";:. ; 't •,.:,"a' '.L: r'2 T•° ,'` ..,¢a-, ?•II;; 3'C'1`y- z?,
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,rr.¢ ? °T-? ??. ,u k: "h. ,?:: „F, f ;:`,. _.i h::`? '?e•" c3' .:t"4-` -1 `rf e- ¢ ^ f
i '?sa::n:' 4 i ?'i th ! .. i'•.'.%°::'` ..'k Via' Q 1 .?,};J>. 9 ? H.r .k r•
r ••1 ti`%? ,\.. i.s? ?. 'f. A:1 €-. r:':i. 'S v... ?;Yr.2'7:...[' .•Yl 'kl. .rift '".i lr .+4,
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y' t
P t pp??''SSgg ?,, '¢ 'lt. ..s:. '1 .•?t:_ ?•.i:hu,.skYf«a°s4i.?tF.u.f''! 7 '? ;
:tA?Y
r • 3; 0'11?1; therewith, and that such tees, rates, rentals and other charges shad not be reduced so as
N to be insufficient to provide adequate revenues for such purposes.. The City has entered
'" into certain further covenants with the holders o? the Bonds of this issue for the terms of
which reference is made to the Ordinance.
It is hereby certified and recited that all acts, conditions and things required
to exist, to happen and to be performed precedent to and In the issuance of this Bond
exist, have happened and have been performed in regular and due form and time as
required by the laws and Constitution of the State of Florida applicable thereto, and that
the issuance of the Bonds of this issue does not violate any constitutional or statutory
limtations or provisions.
This Bond is and has all the qualities and incidents of a negotiable instrument
under the Uniform Commercial Code - Investment Securities of the State of Florida.
The Bonds are issued In the form of fully registered bonds without coupons In
denominations of $5000 or any Integral multiple of $5000. Subject to the limitations and
upon payment of the charges provided in the Ordinance, Bonds may be exchanged for a
like aggregate principal amount of Bonds of the same maturity or other authorized
denominations. This Bond is transferable by the Registered Holder hereof in person or by
his attorney duly authorized in writing, at the above-mentioned office of the Registrar,
but only in the manner, subject to the limitations and upon payment of the charges
provided in the Ordinance, and upon surrender and cancellation of this Bond. Upon such
transfer a new Bond or Bonds of the same maturity and of authorized denomination or
denominations, for the same aggregate principal amount, will be Issued to the transferee
in exchange therefor. Bonds may be transferred upon the registration books upon delivery
to the Registrar of the Bonds, accompanied by a written instrument or instruments of
transfer, in form and with guaranty of signature satisfactory to the Registrar, duly
executed by the Registered Holder of the Bonds to be transferred or his attorney-in-fact
or legal representative, containing written instructions as to the details of the transfer of
such Bonds, along with the social security number or federal employer identification
number of such transferee and, if such transferee is a trust, the name and social security
or federal employer Identification numbers of the settlor and beneficiaries of the trust,
the federal employer identification number and date of the trust and the name of the
trustee. In all cases of the transfer of a Bond, the Registrar shall enter the transfer of
ownership In the registration boosts and shall authenticate and deliver In the name of the
transferee or transferees a new fully registered Bond or Bonds of authorized denomina-
LK"2/03/84-303-1192
Ord. 3440-84
-10-
3-1-84
v!7ce%?k e^r. 7(.C •^y?mt'.i'h Eli''j '.LSrm'•". !R fcw:-:.ar t y, y7{i,,.ew. 09•'.?.;. ? ::YS+$'i!;+f??'n,.,,,r. Tart ?we.ad t,1•.?,t?N
.,sk .?? {'a r?ss"?t't ,. te'?.'r+! ?^`!.. .t:. i?. - ._? .a.• •as: le41?:'?.:?°?;':i?.?r?')}•.t-: ,?'rp
F(. -5?1. °?i`+Y°? :: S•S.' .N ?1.k.,S• sir .4'°4Cr.?v ,?`.f ..- TS :1•' .l{ ??},,?'fy'? ??
Lp' •-?• _ u ... ? .. .. .. w? n., r.? :'I?...?t. `'1,?: r. ... ?}' ....f?A?a .. .v :r'r?•r ?, ? ? r
?...' s7???'6x?'?.L w:,.4W.a .,,. .,s. ? _ ,r_...._L•i .. ».. _•f'?.... `61, 2'..`X
E
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a
0
tions of the same Maturity Date and Rate of Interest for the aggregate principal amount
which the Registered Holder is entitled to receive at the earliest practicable time in
accordance with the provisions of the Ordinance. The City or the Registrar may charge
the Registered Holder of such Bond for every such transfer or exchange of a Bond an
amount sufficient to reimburse them for their reasonable fees and any tax, fee, or other
governmental charge required to be' paid with respect to such transfer or exchange and
may require that such charge be paid before any such new Bond shall be delivered.
The City may deem and treat the Registered Holder hereof as the absolute
owner hereof (whether or not this Bond shall be overdue) for the purpose of receiving
payment of or on account of principal hereof and interest due hereon and for all other
purposes, and the City shall not be affected by any notice to the contrary.
This Bond shall not be valid or become obligatory for any purpose or be
entitled to any security or benefit under the Ordinance until the certificate of authenti-
cation hereon shall have been executed by the Bond Registrar.
IN WITNESS WHEREOF, the City of Clearwater, Florida, has issued this Bond
and has caused the same to be executed by the manual or facsimile signature of its City
Manager and countersigned by the manual or facsimile signature of its Mayor-Commis-
sioner, and Its corporate seal or a facsimile thereof to be affixed, impressed, imprinted,
lithographed or reproduced hereon, and attested by the manual or facsimile signature of
its City Clerk, as of the first day of , 1984.
(SEAL) CITY OF CLEARWATER, FLORIDA
City Manager
Mayor-Commissioner
ATTEST: APPROVED AS TO FORM AND
CORRECTNESS:
C ty Clerk City Attorney
Date of Registration:
Authorized Re stray
LKL-02/18/84-303-1192 -11-
Ord. 3440-84 ;i-].-84 .
c h r7 .4 r z. < a .I?n,43?.,?x f ,•'{.? Nyv-i?
i .y [ ° ,?????%'4.?j •"!S°'??'?Sr' `?Y????"?'x'??o?,?tr,4,;,?'?s '?!€"r°,'??,-g+?•?',Y i'.. ?"'S*??R4riAE ?r'x?'bs?`Y''A'°?:A?":".?,?Ft^e '^7?ir1? ';!?'j'??` ?,'
'?'}g; ?ya.'n;q7'? ,?,y t?. ?. ..i.. ?; ?.,.,. irya"t,,=, •.#:i•j '=s-' '=ir?;,+tj?:='Xs?`•?•__ ;,,F,a;ji???gN?,u. }`ta:
x?fsaa. -.'?„??«??Snii.?:L.C?.s..i:...'5:.?....i;-:=.•. '_'.t •.r _. ,, e. .?:.rr?r'? s. ~w? ..? pa^?? 4g3? .-d. -. ..?. w. r. ? !k. I''nlji?:thb°'+?r
_??,i_...•].. __-3,. .'r '.;r?t,.i!?'. i?':S.a?.' .P..,,.G '?'.', ??5?,_ ,.4 `'?r s.'.7'.:. ?:*.4.Y.z ir?..tE?.?1?r.;
.,
VALIDATION CERTIFICATE
This Bond Is one of a series of Bonds which were validated by judgment of
the Circuit Court for Pinellas County, Florida, rendered on 1984.
Mayor-Commissioner
CERTIFICATE OF AUTHENTICATION OF BOND REGISTRAR
This Bond is one of the Issue of the within described Bonds. The Rate of Interest,
Maturity Date, Registered Holder and Principal Amount shown above are correct in all
respects and have been recorded, along with the applicable federal taxpayer Identification
number and the address of the Registered Holder, in the Bond Register maintained at the
principal offices of the undersigned.
By
Authorized Signature
Date a Authentication
The following abbreviations, when used in the inscription on the face of the
within Bond, shall be construed as though they were written out in full according to
applieable laws or regulations:
TEN COM - as tenants In UNIF GIF MIN ACT -
common Must.
TEN ENT - as tenants by the Custodian for
entireties Minor
JT TEN - as joint tenants with under Uniform Gifts to Minors Act
right of survivor- of
ship and not as State
tenants in common
Additional abbreviations may also be used though not in list above.
LK"2/16/84-303-1192
Ord.: 3+440-84
i
F
-12- 1
' ? ?rj?j.• ..?? ?''•'.'?taJ??,.?! f? i`+4?j 'pi A4}t?b...? ?y'??F.,il?-'?'4': "4f.ltl?l?.a???;K.,`f.:•i??ti'?'!l?Ml?o'«?X!i 'ii••?l'"s-.,T?. ...???;ai•Yay^'?'?••+'F•?+?'AN
??'n? a.A?"t??:,,..., a.._ ? L •:4:.. . .....e .. ; ?... . ??`_S1ZW?n •? ... _.?._,... .,....'1 •.???` ?.°??11•S'?.?i?•??_??''?"f?!
s ?` ?.i.. ?.LiE is ?A :i ?5'-141.;. ','i-_J..r ... ?3?_.ta: dt+i:?i:rtY.?. u.o i.• . ?, h??'•? i 3 .c ?1i"m
ASSIGNMENT
FOR VALUE RECEIVED, the undersigned _
(the "Transferor"), hereby sells, assigns, and transfers unto
(Please insert name and Social Security or Federal Employer
Identification number of assignee) the within Bond and all rights thereunder, and hereby
Irrevocably constitutes and appoints
(the "Transferee") as attorney to register the transfer of the within Bond on
the books kept for registration thereof, with full power of substitution In the premises.
Date:
Signature Guaranteed:
Signature(s) must be guaranteed
by amember firm of the New York Stock
Exchange or a commercial bank or a trust
company.
T C No transfer will be reg stered and
no new Bond will be issued in the name of
the Transferee, unless the signature(s) to
this assignment corresponds with the name
as It appears- upon the face of the within
Bond in every particular, without alteration
or enlargement or any change whatever and
the Social Security 'or Federal Employer
Identification Number of the Transferee Is
supplied."
-13-
3-1-84
• C:. u r "" 1nr "SL ?tt!^"'??1e'f.??S"+}',us'^'aH?`r?t4.r t?.{,'tit ., y? c ?nY R pgtk?rrsu :?*,'tJ F 4?'•Y e}." a. 4 •.fiery.?.•?`• yey'Pfd`-".,7"40. t+lrr.i?wMwi .
:! _ _ .?. .t• ?r? x .1l''" t. _y.SS' ;;. .i' F?'ie"s9"+. '..it .••. ..-.i. ..e •t :??' i' •;t?Y'
i'
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-. ?c r ..?`. ,:.i.?'3 4'• ?' -u{...;. .C.: Y,?..y: Y? y. ?• . T'' ? ? i'. ?'w ?tq:;.`;''e .°••c. A?bL'r. ?'r'"'°;? ?- dr Jo,.."{:. ? '?
'8. 'ts;.nt, ``t'r n?s!!y {tFK;y R?:t
lf."v??? d'd s`4>G -y, • }7 yy, ^?t.^, 6. ye,,, 'sE't S .i:awt x 'i ,Y ale, Y•l »5?..«.s• _•?..?? -
11, r ?t"v ^ P: '`A :: a: -.O "$.4 rs.+N, r' ;'1.., ; fi• ?i ! =.yt!..`RZ` r`.., t "atr EK7?" ? z.. ti%'??i '?.r N?.,4?. a ,:t.b.,.t; ,?k' t..," •S?it»
?'.3
, ??y 5^a< •,t: °.gry'J'?c.=?.e•. i 'fit. ?F 1 ?" j, h?t ?'?°e?.a.}T y+-.x" _ ,yg z.L''. ?y 't"'` ? S ti."
e ? •.{r"Y'? .,?°?.?r •j ?,b? e:?rY,?:t S°.- ?,•t} .i'n:'.: 1; <-> F aa?i; IY'•!.. 'S1''+o.ar- ?-i,•<a' ,?^r- i??'y'?? 'g
i'<<V' °iY'?•. r
i t 7 F T ^,? ? i ?rs ?ilnl. e ?y.-?"_. ??.•.?:r. ?ti4 ? C, ,e'i '^`'??` ,y.?U ??
TCi " 2F *? S?'' •?>' t?& 3' SY: T '.ASS rk?S !?4 -?S? $ a:.? .r?S- ' ??Kj=,}?; 2
?:$?s, ??N `.t .Y •?i?.."C-'.:.??7?.? ,?c'S,SS+"7"?• t-:.s ?e? :?:?"'?k'.w. }•t?)'•',?? tp[?y ?'`?-?.
:W ? 5a ? i?« '? i.4f df.a.'. ? 'a:.i1:_' ? ? E"`a? ?t.K,.+?CeYi 1 ?lr'?'?£? is7a??•+
?,:{. + . ?qrj ?4?t t??,{: x. ????t ??k '`?i'??. o .t???•1iY1
.; ! ,Aj It } psi. y , r.
..r3??t L%,rki,{? '??t? ?ISF?•y?dt, ,; y a
''.L't. ?sl;m+ S'L`!''•9c ? !
i.?` ?: s
i!`?" ?.?+,????,?,,i;?;{' :y?l?nr` •.ay rky„?;?»''?f''
:?'?Y•" i•?; ?` t??' Ct$ &?.. f ?;s? m ??"}F? i s
L xP" ?h,'? r f'j•tn.?¢? 1&FP?I.?:~SrY: t??_1.? '?.,, y?'?t1 7l'?, ?a?'?' g'???5-{y s?r'yy?i?.rai•• ".,r?. S 5, F.w+. •r7r
-'"'.a.,^,i •r?,. iJq"' ?l r'` .C,.,t..i..,i:`?h ^3w''-es<„LT'r3•..,Txr'„f.^?i" rSi' t ay£.u r..?e.
(G) Paragraph 1 of Section 15 of the ordinance is hereby
amended to read as follows:
I. ANNUAL AUDIT. The Issuer shall also, at least once a
year, within 180 days after the close of its fiscal Year, cause
the books, records and accounts relating to the System to be
properly audited by a recognized independent firm of certified
public accountants and shall make generally available the report
of such audits to any holder or holders of Bonds. Such audits
shall contain a complete preentation of financial statements in
accordance with generally accepted accounting principles. A copy
of such annual audit shall regularly be furnished to the Rating
Services and to any hold-2r of any Bonds who shall have requested
in writing that a copy of such reports be furnished him.
SECTION 4. SEVERABILITY OF INVALID PROVISIONS. If any one
or more of the provisions herein contained shall be held contrary
to any express provision of law or contrary to the policy of ex-
press law, though not expressly prohibited, or against public
policy, or shall for any reason whatsoever be held invalid, then
such provisions shall be null and void and shall be deemed separable
from the remaining provisions and shall in no way-affect the
validity of any of the other provisions hereof.
SECTION 5. REPEALING CLAUSE. All ordinances or resolutions,
or parts thereof, of the Issuer in conflict-with the provisions
herein contained are, to the extent of such conflict, hereby
superseded and repealed. In the event of any inconsistency between
the provisions hereof and the provisions of the ordinance, inso-
far as the registration provisions for the 1983 Bonds are con-
,cerned,,such provisions of the ordinance shall be detvmed to be
inapplicable to the 1983 Bonds to the
SECTION 6. NOTICE. Notice of the
ordinance has been properly advertised
circulation in accordance with Section
-14-
.,,.Ord. 1440-84
extent of such consistency.
proposed enactment of this
in a newspaper of general
166.041, Florida Statutes.
3-1-84
¦
SECTION 7. EFFECTIVE DATE. This ordinance shall take
effect immediately upon its enactment.
PASSED ON. FIRST READING February__ 1.6, 1984
PASSED ON SECOND AND FINAL
READING AND ADOPTED „
AS AMENDED March- _1 ,1984
Mayor-Commissioner
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