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ORDINANCE NO. 2081
AN ORDINANCE AUTHORIZING THE ISSUANCE OF A
NOTE NOT EXCEEDING $289, 396.00 TO BE KNOWN
AS THE "PLATFORM FIRE TRUCK NOTE, SERIES 1980,
OF THE CITY OF CLEARWATER, FLORIDA',' FOR THE
PURPOSE OF IMPROVING THE FIRE PROTECTION,
EQUIPMENT; AGREEING TO PAY SUCH NOTE FROM
LEGALLY AVAILABLE NON-AD VALOREM GENERAL
FUND REVENUE; PROVIDING FOR THE SEVERABILITY
OF THE PROVISIONS HEREOF; PROVIDING FOR PROPER
NOTICE OF PROPOSED ENACTMENT; AND PROVIDING
FOR THE EFFECTIVE DATE OF THIS ORDINANCE.
BE IT ENACTED BY THE CITY COMMISSION OF THE CITY
OF CLEARWATER, FLORIDA:
ARTICLE I
AUTHORITY, DEFINITIONS AND FINDINGS
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Section 1.01 AUTHORITY FOR ORDINANCE, This ordinance is
adopted pursuant to the provisions of Section 2-81 of the Code of Ordinances
of the City of Clearwater, 1962, Chapter 166, Part II, Florida Statutes,
and other applicable provisions of law.
Section 1. 02 DEFINITIONS. The following terms shall have the
following meanings herein, unless the text otherwise expressly requires:
A. "Issuer" shall mean the City of Clearwater, Florida.
B. "Obligation" shall mean the note herein authorized to be issued
for the purchase of a platform fire truck.
C. "Holder of Obligation" shall mean any person who shall be the
bearer of an obligation authorized to be issued by this ordinance.
D. "Project" shall mean the acquisition of an elevating platform
fire truck to be used as part of the fire protection service provided in the
City of Clearwater, Florida.
Section 1. 03 FINDINGS. It is hereby ascertained, determined and
declared that:
A. The Issuer now operates a fire department in the City of Clearwater,
Florida, and provides fire protection service to the residents of Clearwater
and persons located in the Clearwater Fire District.
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1/24/80
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B. It is necessary to acquire additions
l equipment in order to expand
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the service and thereby preserve and protect the public health, safety and
welfare of the inhabitants of the Issuer and persons located in its Fire
District.
C. The principal and interest an the Obligation shall be payable
solely from legally available non ad valorem funds in the general fund
.
The Issuer shall never be required to levy ad valorem taxes on any property
therein to pay the principal of and interest on the Obligation and such
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Obligation shall not constitute a lien upon any property of or in the Issuer.
ARTICLE II
AUTHORIZATION, TERMS, EXECUTION
Section 2.01 AUTHORIZATION OF ACQUISITION OF PROJECT.
There is hereby authorized the acquisition of the Project, consisting of the
purchase of an elevating platform fire truck, pursuant to agreements now
on file or to be filed with the Issuer. The cost of such project shall be
the principal purchase price payable over a period of ten (10) years and
interest upon the Obligation for not exceeding ten (10) years from the date of
delivery thereof; and expenses as may be necessary or incidental to the
financing herein authorized and acquisition of the Project and placing the
same in operation.
Section 2.02 AUTHORIZATION OF OBLIGATION. Subject and
pursuant to the provisions hereof, an Obligation of the Issuer to be known
as the "Platform Fire Truck Note, Series 198011, herein referred to as
"Obligation", is authorized to be issued in the aggregate principal amount
of not exceeding Two Hundred Eighty-Nine Thousand Three Hundred Ninety-
Six Dollars ($289, 396.00).
Section 2.03 DESCRIPTION OF OBLIGATION. The Obligation
shall be dated , 1980; shall consist of a note of the Issuer payable
in monthly installments of Three Thousand Three Hundred Forty-Five
ten (10) years plus interest at the rate of 6.976 per annum on the unpaid
principal balance,
Ord,' #2081 1/24/80
Dollars and Twenty-four Cents ($3, 345.24); which payment, made in advance
of. each month, shall fully pay the principal amount of the obligation in
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Such Obligation shall be issued on a note form as provided herein;
shall be payable to bearer with respect to principal and interest as provided
herein and in lawful money of the United States of America.
Section 2.04 EXECUTION OF OBLIGATION. The Obligation shall
be executed in the name of the Issuer by Its City Manager, countserigned
by its Mayor-Commissioner and its corporate seal or facsimile thereof
shall be affixed thereto or reproduced thereon and attested by its City Clerk.
The Obligation shall be approved as to form and correctness by its City
Attorney. In case any officer whose signature shall appear on any Obligation
shall cease to be such officer before the delivery of such Obligation, such
signature shall nevertheless be valid and sufficient for all purposes the
same as if such officer had remained in office until such delivery.
Section 2.05 NEGOTIABILITY. The Obligation shall be and shall
have all of the qualities and incidents of a negotiable instrument under the
law merchant and the laws of the State of Florida, and each successive holder,
in accepting such Obligation, shall be conclusively deemed to have agreed
that such Obligation shall be and have all of the qualities and incidents of
a negotiable instrument under the law merchant and the laws of the State of
Florida.
Section 2. 06 PROVISION FOR REDEMPTION. The Obligation
may be made redeemable prior to its respective date of maturity, at the
option of the Issuer. Interest shall cease to accrue on the Obligation on the
date Issuer exercises its right of redemption, if payment thereof has been
duly provided.
Section 2. 07 FORM OF OBLIGATION. The Obligation shall be in
substantially the following form, with such omissions, insertions and
variations as may be necessary and desirable and which are herein
authorized or permitted prior to the issuance of the Obligation:
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CITY OF CLEARWATER
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KNOW ALL MEN BY THESE PRESENTS that the City of Clearwater,
Florida, thereinafter called "City") for value received, hereby promisee "a1=`" `o ',:lr
to pay to the holder of this Note, from legally available general fund non
' ad valorerr? revenues the principal sum of Two Hundred Eighty-nine Thousand
Three Hundred Ninety-mix Dollars ($259, 396.00), interest thereon from the
%
and Nine-tenths per centum (6.956) per annum
data hereof at the rate of Silt
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on the unpaid principal balance, such interest to the maturity hereof being ,
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{ payable monthly. Both principal and interest on this Note shall be due and f_
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payable in the form of monthlypayments of Three Thousand Three Hundred
Forty-five Dollars and Twenty-four Cents ($3, 345, 24) in lawful money of
the United States of America at
This Note is a single authorized obligation in the amount of
$289, 396. 00, issued to finance the cost of the acquisition of one elevating
platform fire truck to improve the fire fighting system of the City under the
authority of and in full compliance with the Constitution and Statutes of the
State of Florida, including Section 2-81 of the Code of Ordinances of the
City of Clearwater, Florida, Chapter 166, Part II, Florida Statutes, and
other applicable provisions of law and an ordinance duly enacted by the
City Commission of the City of Clearwater on the day of January,
1980, and is subject to all the terms and conditions of such Ordinance.
This Note does not constitute an indebtedness of the City within
the meaning of any constitutional or statutory provision of limitation of
indebtedness and it is expressly agreed by the holder of this Note that
such holder shall never have the right to require or compel the exercise
of the ad valorem tasting power of the City for the payment of the principal
of and interest on this Note.
It is further agreed between the City and the holder of this Note
that this Note and the obligation it establishes shall not constitute a lien
upon the Project, or any part thereof, or on any other property of or in
-4-
1/24/80
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the City, but shall be payable from legally available general fund non ad valorem
revenues in the manner : '4P•;?,} tt :s `:
provided in the Ordinance.
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The City agrees to always maintain sufficient funds in the designated
fund as will always provide revenues sufficient to pay out of such fund as
each installment becomes due, the principal and interest of this Note.
The agreement to pay from the non ad valorem revenues described +. •, •:'',
by the City under the Ordinance may be discharged at or prior to the maturity
or redemption of the Note upon the making of provision for payment thereof :; r?f•K;
on the terms and conditions set forth in the Ordinance.` `
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All acts, conditions and things required to exist, to happen and to
be performed precedent to and in the issuance of this Note, 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 the issuance of this Note does not violate any constitutional,
statutory or ordinance limitation or provision.
This Note shall have all the qualities and incidents of a negotiable
instrument under the law merchant and the laws of the State of Florida.
IN WITNESS WHEREOF, the City of Clearwater, Florida, has
issued this Note and has caused the same to be signed by its City Manager,
countersigned by its Mayor-Commissioner, and the corporate seal to be
affixed and attested by its City Clerk, all as of the day of
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CITY OF CLEARWATER, FLORIDA
Countersigned:
Mayor-Commissioner
Approved as to form &
correctness:
By
City Manager
Attest:
City Clerk
City Attorney
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Ord. #2081
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1/24/80
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ARTICLE III
SOURCE OF PAYMENT OF OBLIGATION
Section 3.01 SOURCE OF PAYMENT. The Obligation herein
authorized, shall not be or constitute an indebtedness of the Issuer within
the meaning of any constitutional or statutory limitation of indebtedness,
but shall be payable solely from the legally available non ad valorem revenue
from the General Fund; provided that such agreement to pay shall not
constitute a lien on or pledge of such funds. No holder of the Obligation
shall ever have the right to compel the exercise of the ad valorem taxing
power of the Issuer or taxation in any form on real property for payment
thereof, but the Obligation shall be payable only from the legally available
general fund non ad valorem revenue.
Section 3.02 COVENANT TO GENERATE REVENUES. The City
agrees to take such lawful action as may be available to it from time to
time as will always provide revenues sufficient to pay out of such funds
as each installment becomes due, the principal and interest of this Note.
ARTICLE IV
MISCELLANEOUS PROVISIONS
Section 4.01 CANCELLATION. U, at any time, the Issuer shall
have paid, or shall have made provision for payment of the principal and
interest with respect to the Obligation, then, and in that event, the agreement
to pay from legally available general fund non ad valorem revenue in favor
of the holder of the Obligation shall be no longer in effect. For purposes of
the preceding sentence, a tender of the full amount of principal and interest
then due on the Obligation or a separate deposit of the principal and interest
payment in a separate account shall be considered "provision for payment. 11
Section 4.02 SEVERABILITY OF INVALID PROVISIONS.
If any one or more of the covenants, agreements or provisions herein
contained shall be held contrary to any express provision of law or contrary
to the policy of express law, though not expressly prohibited, or against
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ord..#2081
1/24/80
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public policy, or shall for any reason whatsoever be held invalid, then
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such covenants, agreement or provisions shall be null and void and shall »?°!f''. #
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be deemed separable from the remaining covenants, agreements or provisions
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and shall in no way affect the validity of any of the other provisions hereof or
of the Obligation issued hereunder.
Section 4.03 REPEALING CLAUSE. All ordinances or parts thereof qtr`"' F'°?yF``
of the Issuer in conflict with the provisions herein contained and of the
Original. Ordinance are, to the extent of such conflict, hereby superseded
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Section 4.04 EFFECTIVE DATE. This ordinance shall become
effective immediately upon its adoption,
Section Z, Prior to the execution of the Note provided herein, the i,
City Manager is authorized to make any insertion in this Ordinance necessitated y
by the execution of the Note.
Section 3. Notice of the proposed enactment of this ordinance has
been properly advertised in a newspaper of general circulation in accordance
with Section 166.041, Florida Statutes.
PASSED ON FIRST READING January 17, 1980
PASSED ON SECOND AND FINAL
READING AND ADOPTED January Z4, 1980
Attest:
City Clerk
Ord: 0120$1..
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9 ° CLEARWATi ER SUN
Published Daily
Clearwater, Pinellas County. Florida
STATE OF FLORIDA
COUNTY OF PINELLAS:
Before the undersigned authority personally appeared Maxine M. Williams, who on oath
says that she is the Classified Sales Manager of the Clearwater Sun, It dally newspaper pub.
llshed at Clearwater In Pinellas County, Florida; that the attached copy of advertisement,
being a.R9Aikge • of •Proposed .Enactment •.o£ •OrdU„in the matter of
.Ordinance, .......2..... 2082•••.....•,,,,•,•,•,•„
.......
In the .......... Y ..............XXICXY ...................... Court, was published In
sold newspaper in the issues of....... ,?a n•- • • 1 7.0 9 9.0 ...........................
f ...
Affianl further says that the said Clearwater Sun is a newspaper published at Clear•
water, In said Pinellas County, Florida, and that the said newspaper has heretofore been
continuously published In said Pinellas County, Florida, each day and has been entered at
second class mall matter at the post office in Clearwater. In said Pinellas County, Florida,
for a period of one year next preceding the first publication of the attached copy of adver,
tisement. and affiant further says that she has neither paid nor promised any person, flrtr.
or corporation any discount, rebate, commission or refund for the purpose of securing this
advertisement for publication In the said newspaper.
17
rr, :[tiwarn la and sttl?scribcd RECEI
Aanuarry.,n.D.t1,Sp.
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AV,
JAN 18
(SEAL) Notary Public
NOTARY PLICUC STATE of ILDRInA gt UISCL
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1980
CS•3W 11T cal=utusi IN EXPIRES MAY t3. 1581 CITY CLERK
PotIDED 1,11V oLNIZAL nr:. UNDERWRITERS
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