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ORDINANCE NO. 2112
AN ORDINANCE OF THE CITY OF CLEARWATER,
FLORIDA, AMENDING ORDINANCE NO. 2081, RELATING
TO THE ISSUANCE OF AN OBLIGATION FOR THE PURPOSE
OF ACQUIRING FIRE PROTECTION EQUIPMENT, TO
CHANGE THE RATE OF INTEREST, PAYMENT SCHEDULE
AND AMOUNT OF THE OBLIGATION SET FORTH IN THE
ORDINANCE; PROVIDING FOR THE REPEAL OF ALL
ORDINANCES OR PARTS OF ORDINANCES IN CONFLICT
HEREWITH TO THE EXTENT OF SUCH CONFLICT;
PROVIDING FOR PROPER NOTICE OF PROPOSED
ENACTMENT; AND PROVIDING FOR THE EFFECTIVE
DATE OF THIS ORDINANCE.
WHEREAS, the City Commission on January 24, 1980, passed
Ordinance No. 2081 providing for the issuance of a note to be used to
acquire fire protection equipment; and
WHEREAS, since the passage of such ordinance a change has been
necessitated in the rate of interest, payment schedule and the total amount
of the note;
NOW, THEREFORE, BE IT ORDAINED BY THE CITY
COMMISSION OF THE CITY OF CLEARWATER, FLORIDA:
Section 1. That Section 2.01 of Ordinance No. 2081 be and the same
is hereby amended to read as follows:
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 ter* 419} seven 7
years and interest upon the Obligation for not exceeding
tn&w4l9? seven ? 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. That Section 2.02 of Ordinance No. 2081 be and the same
is hereby amended to read as follows:
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 Hxndired-Eighty .NUie-
T4matsaond-?I?3und?tied-MiteS?,Six 44496,-34&.f-04)-
Two Hundred Eight!-Six Thousand Five Hundred Ninety-
Six Dollars f$286. 596.001,
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Section 3. That Section 2.03 of Ordinance No. 2081 be and the same
is hereby amended to read as follows:
Section 2.03 DESCRIPTION OF OBLIGATION.
The Obligation shall be dated April 1980; shall
consist of a note of the Issuer payable in raoabMy
quarterly installments of ?x+ee-?xtaand-?'ee-J?ktnck4ad
Fo?tyF#ve»Da?la?s-and ?'vwetrty..€aru`rGe?bs- (,$3,?4?.?4'}
Thirteen Thousand Nine Hundred Fourteen Dollars and
Twenty-three Cents ($13, 914.221 which payment, made
in aclv&rtoe arrears of each month-quarter. shall fully pay
the principal amount of the obligation in tent 44 Q} seven 7
years plus interest at the rate of 6r9Yo• 9.0 o J_per annum on
the unpaid principal balance.
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 4. That Section 2.07 of Ordinance No. 2081 be and the same
is hereby amended to read as follows:
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:
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 legally available general fund non ad
valorem revenues the principal sum of Two. 4Rvrn&te&Zighty-
ni;reT4}otrsa;xk T?rre? ?t?r?'?i?rek}*? s? ?o-bars -{,?2?}?,.3q{i, X14}
Two Hundred Eighty-Six Thousand Five Hundred Ninety-Six
Dollars ($286, 596. 00), interest thereon from the date hereof
at the rate of ax-&nd -Ni.*e-4entlrs- Nine per centum 46 r Oo) (9. 0°jo)
per annum on the unpaid principal balance, such interest to
the maturity hereof being payable TmentlAy quarterly. Both
principal and interest on this Note shall be due and payable
in the form of znonRAy quarterly payments of Three-Thausaxd
?'?rrc*e-H?d??cl-F?ty»€i?r? 17trlla?s- Tti,?}n-?etnr-6eats($I,-34 e44-) Thirteen Thousand Nine Hundred Fourteen Dollars
and Twenty-three Cents ($13, 914. 23) in lawful money of the
United States of America at Southeast Bank of Pinellas 80I
West Bay Drive Largo, Florida. Said quarterly payments shall
be due Jul 15 October 15 and January 15 of each ear commencing
April 15, 1980, and ending April 15, 1987.
This Note is a single authorized obligation in the amount of
$289r396rQQ $286, 596.2.0, 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
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in full compliance with the Constitution and Statutes of the `k"?::}f •;`"f;w;"t;7f,'}??`
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 15 day of January April
1980, and is subject to all the terms and conditions of such
Ordinance.
This Note does not constitute an indebtedness of the City Yy''.'~
within the meaning of any constitutional or statutory provision ?.::r<?•;
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, • ,S:r ; ; T3F#
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 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 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.
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 , 19
CITY OF CLEARWATER, FLORIDA
Countersigned:
By.
City Manager
Mayor-Commissioner
Attest:
Approved as to form
& correctness:
City Clerk
City Attorney
Ord. #2112 -3-
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Section S. All ordinances or parts of ordinances in conflict herewith
are to the extent of such conflict hereby repealed.
Section 6. 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.
Section 7. The provisions of this ordinance shall take effect
immediately upon its passage.
PASSED ON FIRST READING April 3, 1980
PASSED ON SECOND AND FINAL April 15, 1980
READING AND ADOPTED
AS AMENDED
Mayor-Commissioner
Attest:
City Clerk
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CLEARWATER SUN
Published Dally
Orarwater, Plneitas County. Florida
STA'L'E OF FLORIDA
COUNTY OF PINELLAS:
Marc the undersigned authority penonnily appeared Mary Anti Murrnrrlli, who on onth says that
she Is the Cla¦¦ined Holes Manager of the Clearwater Sun, n tinily newrpnprr pule l¦hed at Clearwater In
Pinellas County, Florldat that the attached cupy of advertl¦enteni, hying a ....................... .
....... A9Xloci..Ref,.Rx9R4t$9d..ROAF.tment/Dndi ancainthrntnlterof
...................... Oxdi naaae.. No.....21 ].2..............................
in the .............................. xx xxx .................... Cauri. vein pulillArd In
said newspaper in the issum of .... Ap.r:. ... 7. t .19.8 JR .............. k ............. " • ' •
• • Afflont further says that the said Clearwater Sun it a newspaper published at Uenrwnier, In said
Pinellas County, Florida, and that the said newspaper hnee heretofore been continuously published in raid
Pinellas County, Florida, eurh day and has been entered nit second class mall master at the poo office In
Clenrwnier, In said Pinellas County, Florida, for a period of one year next preceding the first publientlon
of the atinched coley of advertisement, and affiant further says that she has nrither paid nor prnml¦nl
any person, firm or corporation any discount, rebate, romndrrlun or refund for the purpose of securing
this adverti¦ment for publiendcn In the snid newspaper.
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Sworn to and subscribed before me
this. ...... ?..... Sru. ... ..Apxi.l........ Ad1.19.g0 APR
g 1380
?BEAf. (Votary 1'ublir
CS-304 HQTART rustic- ]TOTE of ILORIOR St tAUE
AFT g0W;13llUX LXNAES NAT 11, t1101 r?.?
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