2082
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ORDINANCE NO. 2082 :`..' u
AN ORDINANCE AUTHORIZING THE ISSUANCE OF
NOT EXCEEDING A $300, 000 MUNICIPAL REAL PROPERTY
ACQUISITION NOTE SERIES 1980, OF THE CITY OF .' _>°; •^ ,...
CLEARWATER FLORIDA FOR THE PURPOSE OF
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ACQUIRING REAL PROPERTY TO BE UTILIZED FOR Y
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EXPANSION OF MUNICIPAL FACILITY; 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 ''" 4
DATE OF THIS ORDINANCE. x; I
BE IT ENACTED BY THE CITY COMMISSION OF THE
CITY OF CLEARWATER, FLORIDA:
ARTICLE I
AUTHORITY, DEFINITIONS AND FINDINGS
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 real property to be used as defined in the term
"project's.
C. "Holder of Obligations" 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 real property consisting
of Lots 14 through 18, and Lots 26, 27, 28, 29, 34, 35, 36 and 37 of
Gibsonis Clearwater Heights Subdivision to be used to accommodate an
expansion of municipal operations and facilities.
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Ord. #2082
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Section 1.03 FINDINGS. It is hereby ascertained, determined and
declared that;
A. The Issuer now has several buildings located in Clearwater, Florida,
in which the various municipal departments are located.
B. It is necessary to acquire additional real property in order to provide
space wherein the various departments and functions of the City of Clearwater,
Florida may expand as the City and services provided by the City expand.
C. The principal of and interest on 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
Obligation shall not constitute a lien upon any property of or in the Issuer.
ARTICLE II
AUTHORIZATION, TERMS, EXECUTION
Section Z. 01 AUTHORIZATION OF ACQUISITION OF PROJECT.
There is hereby authorized the acquisition of the Project, consisting of the
purchase of real property for municipal expansion purposes, pursuant to
agreements now on file or to be filed with the Issuer. The cost of such
project shall be the balance of the principal purchase price payable over a
period of five (5) years and interest upon the Obligation for not exceeding
five (5) 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. O2 AUTHORIZATION OF OBLIGATION. Subject and
pursuant to the provisions hereof, an Obligation of the Issuer to be known
as the "Municipal Real Property Acquisition Note, Series 198011, herein
referred to as "Obligation", is authorized to be issued in the aggregate
principal amount of not exceeding Three Hundred Thousand Dollars
($300, 000. 00).
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Ord. #2082 1/24/80.
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Section 2. 03 DESCRIPTION OF OBLIGATION. The Obligation shall
be dated 1980; shall consist of a note of the Issuer. shall be
payable as to interest on a semi annual basis and as to principal payable
on an annual basis on the anniversary date of the note. The amount of each
annual payment shall be $60, 000.00 annually for the life of the note. The
note shall bear interest at the rate of 816 per annum on the unpaid balance
remaining after each annual payment.
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, countersigned
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.
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ord. #2082
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1/24/80
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06 PROVISION FOR REDEMPTION. The Obligation
Section 2
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may be made redeemable prior to it a respective date of maturity; at the
option of the Issuer. Interest shall cease to accrue on the Obligation on the
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date Issuer exercises its right of redemption, if payment thereof has been ?
duly provided. .
07 FORM OF OBLIGATION. The Obligation shall be in
Section 2
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substantially the following form, with such omissions, insertions and 9; R
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.. variations as may be necessary and desirable and which are herein r4% f 1`,
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authorized or permitted prior to the issuance of the Obligation:
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CITY OF CLEARWATER
NOTE
KNOW ALL MEN BY THESE PRESENTS that the City of Clearwater,
Florida, (hereinafter called "City") for value received, hereby promises
to pay to the holder of this Note, from General Fund legally available non-
ad valorem revenues the principal sum of Three Hundred Thousand Dollars
($300, 000. 00), interest thereon from the date hereof at the rate of Eight
per centum (8%6) per annum on the unpaid principal balance, such interest to
the maturity hereof being payable semi annually. Payments on the principal
shall be made annually at the rate of $60, 000. 00 an the anniversary date of
the note. Payments of principal and interest shall be in lawful rro ney of the
United States of America at
This Note is a single authorized obligation in the amount of $300, 000. 00,
issued to finance the cost of the acquisition of additional real property to
expand and improve municipal facilities 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 pro-
visions of law and an ordinance duly enacted by the City Commission of the
City of Clearwater on the . day of 19_, and
is subject to all the terms and conditions of such Ordinance.
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``s " Ord. #2082 1/24/80
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 taxing 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
the City, but shall be payable from legally available General Fund non-ad valorem
revenues in the manner provided in the Ordinance.
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 pledge of 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
on the terms and conditions set forth in the Ordinance.
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.
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Ord. #2082, 1/24/80
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IN WITNESS WHEREOF, the City of Clearwater, Florida, has issued
this Nate and has caused the same to be signed by its City Manager, counter-
signed by its Mayor-Commissioner, and the corporate seal to be affixed
and attested by its City Clark, all as of the day of '19
CITY OF CLEARWATER, FLORIDA
Countersigned:
Mayor-Commissioner
Approved as to form
& correctness:
City Attorney
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 pay-
able solely from, the legally available non ad valorem revenue from the
General Fund. 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 pay-
able only from the legally available General Fund non ad valorem revenue.
Section 3.02 COVENAN'T' 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. If, 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
City Clerk
By
City Manager
Attest:
pay from the legally available General Fund non ad valorem revenue in favor
of the holder of the Obligation shall be no longer in effect. For purposes
Ord. 02082
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1/24/80
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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 interost payments in a separate account shall be considered "provision
for payment
Section 4.02 SEVERABILITY OF INVALID PROVISIONS. a
If any one or more of the covenants, agreements or provisions herein
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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
public policy, or shall for any reason whatsoever be held invalid, then
such covenants, agreements or provisions shall be null and void and shall
be deemed separable from the remaining covenants, agreements or pro-
visions 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
of the Issuer in conflict with the provisions herein contained and of the
Original Ordinance are, to the extent of such conflict, hereby superseded
and repealed.
Section 4. 04 EFFECTIVE DATE. This ordinance shall be come
effective immediately upon its adoption.
Section Z. Prior to the execution of the Note provided herein, the
City Manager is authorized to make any insertion in this Ordinance neces-
sitated 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 Jan ry 24, 1980
Atte st;
Mayor -Commissioner
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STATE OF FLORIDA
COUNTY OF PINELLAS:
CLEARWATER SUN
Published Daily
Clearwater, Pinellas County, Florida
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Before the undersigned authority personally appeared Maxine NI. Williams, who on oath NOTICE OF PROPOSED ' `.
says that she Is the Classified Sales Manager of the Clearwater Sun, a daily newspaper pub- ENACTMENT OF ORDINANCE", '
lished at Clearwater In Pinellas County, Florida; that the attached copy of advertisement, Clearwater City Commission Meeting January ZI, IINIO beginning'
at 9:70 A.M. • ommission Meeting Room, City Hall. Ito consider
t3d f f)rd4. adoption of Ordinance Nos. 2091 an 2012, titles as follows:
being a. N...o.ti...c .. e ... t]..f..P...r.o.p..os......En....a..c...tm..e.n.t .... o.....rd ..inthemalteraf AN ORDINANCE AUTHORIZING THE ISSUANCE OF•A I
Ordinance Nos . 2 f] 8 1 0 8 2 NOTE NOT EXCEEDING $29939900 TO HE KNOWN AS THE': a'
.......... .......................................r.l.2 ............................ D "PLATFORM FIRE TRUCK ROTE, SERIES 19110. OF THE.%
CITY OF CLEARWATER. FLORIDA, FOR THE PUR?POSE OF,,;, j
IMPROVING THE FIRE PROTECTION EQUIPMENT;
•••••••••••••••••••••••••••••,••••••••• •••••••••••••• •••••••••••••••••......... r AGREEING TO PAY SUCH NOTE FROM LEGALLY AVAIL-`
n tl:e .........................$?{XX}? ...................... Court, was published In ABLE NON-AD VALOREM GENERAL FUND REVENUE;;!'
;n,
PROVIDING FOR THE SEVERASILITY OF THE PRO',`. said newspaper in the issues oi......:.? a n, ; , ,1 7 ?, l 9 B.0 , • • , , , , , , , , , , , , , , , , , , , , , , , , VISIONS II EREOF; PROVIDING FOR PROPER NOTICE OF ;i
PROPOSED ENACTMENT; AND PROVIDING FOR THE EF {
FECTIVE DATE OF THIS ORDINANCE.
................................................................................. .:':AN EXCEEDING A 11SQO QO AUTHORIZING MUNICIPAL ISSUAN ' OF NAT r.' '! REAL Affiant further says that the said Clearwater Sun is a newspaper published at Clear- QUISITION NOTE. SERIES I990, OF THE CITY OF CLEAR.
water, In said Pinellas County, Flarida, and that the said newspaper has heretofore been WATER, FLORIDA, FOR THE PURPOSE -OF,ACQUIRING continuous) published In said Pinellas County. Florida, each da and has been entered as REAL PROPERTY TO BE UTILIZED FOR EXPANSION OF '•
second class mail matter at the ost office in Iearwater, In said Pinellaa County, Florida, ?;• MUNICIPAL FACILITY- AGREEING TO PAY SUCH NOTE.,,:
P FROM LEGALLY AVAILABLE NONrAD VALOREM GENER•.
for a period of one year next preceding the first publication of the attached copy of adver. , AL FUND REVENUE; PROVIDING FOR THE SEVER.
tisement; and afflant further says that she has neither paid nor promised any person, firm ABILITY OF THE PROVISIONS•HEREOF• PROVIDING FOR ;
or corporation any discount, rebate, commission or refund for the purpose of securing this VIDINGR FORTL THEF EFFEC7I£VEEAATL:M OF THIS?O°R•
advertisement furpubllcotlon in the said newspaper. J DINANCE. " ;
?' , CIII-lens may be present to spick on the ordinance and/or may
Ins eel them prior to above dales at City Attorney's Office • 3rd RoQr'
. city Hall.
Luc , .
-City of Cltarwite'r,'Florida
"xJ"r Lucille W1111a Williams, Cltr Clerk
Sworn to and subscribed b re ate' RECEIVE
this,..9.9tt....,ry??y .J.anua ry.. A.D, Lg S o.
...
CS-309 ItOTANT PUBLIC, STATE of I'LORIDA
MY eou:altuoN EXPIRES MAY
44NOiG TAiY atNtIUL IM Y1t0["Kirin
t513,1L! Notary Public
uR99
tg. t99L
JAN 18 1980
4
CITY CLARK