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654 S , ' ? • lwo 4 tihas ' : ' ' • -' ' a ? i 1. `• :'l: . '• +5 -x?? ,t.••,/?'.[Siit + 'v'w.Y.°a,ltt . 1t. .... ?.ti . . e, o .. i - .']`: )?:^«a..i.1•...T« sn, r.n ..,•w • r.. rY+lE • _ ;a il r• . , • ' ' SL • !'?' t , • ":I ?,, 1,'15: ??'? A y ••E"? ' 1 " ORDINANCE NO. 654 AN ORDINANCE PROVIDING FOR THE CONSTRUCTION, IMPROVEMENT AND EQUIPMENT OF MUNICIPAL STADIUM RECREATIONAL FACILITILSE 14AKING CERTAIN FINDINGS IN REGARD THERETO; AUTHORIZING THE ISSUANCE OF X400,000 RECREATION REVENUE CERTIFICATES; DE- : SCRIBING SAID CERTIFICATES; PROVIDING FOR THEIR MATURITY DATES; PROVIDING FOR THE EXECUTION, NEGOTIABILITY AND REGISTRATION OP SAID CER'T'IFICATES; PROVIDING FOR REPLACE-- MENT AND PAYMENT.' OF MUTILATED DESTROYED, STOLEN AND LOST h " ,. E COVENANTS AND REVENUES AND CERTIFICATES; PROVIDING FOR T APPLICATION OF REVENUES OF SAID CERTIFICATES; PROVIDING FOR THE COVENANTS AND OBLIGATIONS OF THE CITY OF CLEARWATER ' UNDER SAID CERTIFICATES; PROVIDING FOR THE DISPOSITION OF ' ' ' ° REVENUES FROM THE STADIU14 RECREATIONAL FACILITIES; LIMITING '' I ..'•, THE ADDITIONAL OBLIGATIONS WHICH MAY BE ISSUED AGAINST THE SECURITY PLEDGED FOR SAID CERTIFICATES; PROVIDING FOR " REMEDIES OF CERTIFICATE HOLDERS; LIMITING MODIFICATION OR AMENDMENT OF THIS ORDINANCE; PROVIDING FOR THE SEVERABILITY ". OF THE PROVISIONS HEREOF; PROVIDING FOR THE ISSUANCE AND SALE OF THE CERTIFICATES; PROVIDING FOR THE VALIDATION OF :,,':";";.`,," ';. ,: :•:"' `? SAID CERTIFICATES; PROVIDING THAT THIS ORDINANCE IS AN EMERGENCY MEASURE AND PROVIDING FOR REPEAL OF ORDINANCES • :+: AND RESOLUTIONS IN CONFLICT HEREWITH. BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF CLEARWATER FLORIDA: That it is necessary for the immediate preservation of the ` public peace, prosperity, health and safety of the City of Clear- jJ f water and its citizens and inhabitants that the construction, im- ' ' ;;; •'.' f.:;:, provement and eattipment of said Stadium Recreational Facilities {; _a =}J ='" r',` as authorized herein be undertaken and completed with the least possible delay, and the ordinance is, therefore, hereby declared to be an emergency measure and shall take effect upon its passage as provided by law and the same is hereby enacted to meet said " :4 '`_"='' , ; t • : r `?? .. `t emergency. PASSED ON FIRST READING PASSED ON SECOND READING ' j = ;' ..'' PASSED ON THIRD AND FINAL : • .4 :: ?:. June 23, 1954 June 23, 1954 READING AND ADOPTED June 23, 1954 Mayor- ommi goner 3. •5 IT: Attesto M r y?:{? ,, ,•,:._:'. i= .: i F- "f '? ,:. - ! 1 • City Xuditor er ` .. . } n. {.; ;1.:x;1, ? ti ,1 i i `J t? tl f F: ,?_, ( ? 'ar Yx +? ;? is r.°•`':: ;: I Eli far :. On/, 4 d'r>•i t. >r ?iy'?y''?b,'SG`"w?• :4 ?`?i»o •,,i }j' Yr l {?} ??µ s .f. r3.n -.•t"ct' '?'E' )' -!,'' .i} Y°?.'Y••'1:';'.' ?3_.. i!. i ?`f.. Sf i { .t .X; ;'?l:•i''.":.:,. •' ^•s yt :7:?.• !Y-!"1"'?t i? „?',i?.'F'.: nr ,a.:, .s' ',"s..i ?"i_.`:.?i•.• A"" t k., L. •..<?z '?..-, ,y. IJ e ik Clearwater,Florida. Ma 21st-1954.--- -o I,H.G.Wingo City Auditor and Clerk of the ity of Clearwater,Florida hereby certify that Ordinance Humber 654 was posted.at City Hall,and at Pinellas County Court House,Clearwater Florida from April 20.1954 to May 21st.1954, as required by Florida s,Section 165.20. u for and 01;r .G. ngo. ;rWATEROFLORIDA. CITY OF CLE S .. . [r j' 1 { r ee??? AW't;,' zMr,.' .. '1 } tp {,F 'Tk. 1 ? ?p yT? .1??A%' Yf.'?•'{ji???tj(':4hL?j}tF??. ? ..` X111i;,A _r 1v 1, L Y? Y3'?e'' ? T 3? 44'?,1'pfL1. ID? :{3. a; ..0 "A -1 JS .: k"+!S'*?€?.{.rti?l'Y?.?h7,rJ?•T?'?"„"eNe"«?R,.Y:?a - ..+.,n+. Yn;"?.•wR,w,.,sw.r?..r-, Y ?. ?? 3 i f t ,E E f ' , ' t E' I t , 4 •1 % ?.s:?;,;'a?Ht ;?,??`;??,• •'s?'."-''ens ?g:r 1 ; NOTICE OF JtFVNACTAI9NT ?? t! or UnDINANCII au' The Clearwater Sun ORDINANCK -6M ., Published Daily THIN CONSTRUCTION,- IMPROVE- Clearwater, Pinellas County, Florida -r, AND EQuiPMNT OF 26ltJNI-Mms STATE OF FLOMDA COUNTY OF PINELLASt Before the undersigned authority personally appeared W. S. Zschach, who on oath says that he is the General Manager of the Clearwater Sun, a daily newspaper published at Clearwater in Pinellas County, Florida, that the attached copy of advertisement, being a , . •Noti-a e • of • ordinanc e - NO : $ 54 • • " • • • . • " " " • ' ................................................. ............. In the matter of ..Conetmcti.on,.Improv,ement..&. equipment. • of • municipa]. stadium. ...recreationai.•facilities{eta:' .................. 1 X3CCXXXXXX7C was published in said newspaper in the issues of ...Jump.. 93.,195/ r ............................. Atfiant further says that the said Clearwater Sun is a newspaper publishad at Clearwater, In said Pinellas County, Florida, and that the said newspaper has heretofore been continuously published In said Pinellas County, Florida, each day and has boon entered as second class mail 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 advertisement; and affiant further says that he has neither pald nor promised any person, firm or corporation any discount, rebate, commissign or refund for the purpose of securing this advertisement for publlcation^_in the?d' necw-sppaaa 1. Sworn to and bsctibed before me this of .. e . ..... A. D. 195 . (SEAL) tSkt.?S- s?bllC?tute rt Flofust u1 1u,y? MY camsnission explres ^pol '24, IY55 1w4??1 by',nesrirty :wr?tr L1. ?1 ll. ?. , 6L STADIUM RECREATIONAL }.: I! L)INGS IN REGARD THERETO, iI0RIZINQ T110 ISSUANCE OF S lit MATURITY DATES. PRO- ING FOR Till-, EXECUTION. NE- FOlt REPLACEMENT AND PAY- M Or MUTILATED, DESTROY- t STOLEN AND LOST CERTIFI- ps; PROVIDING FOR - THE KNAN"I'S AND IIEVENUFM AND LICATION OF REVENUES 010 CM.RTIFICATF-1KV PROVIDING TIM COVENANTS AND OHM- 1. TONS OF' THE CITY OF CLEAlt- Ma t1NDX SAID CEnTIFT. Es: PnOvjDiNr- FOR TIM t. IOSITION OF 1MVENUES FROM t BY IRSVED AGAINST THE M11TY PLEDrIND, FOR SAID t y3Ert IEDIES OF CERTIFICATE IINANCE:tPROVIDING'FOR TIM k- is IlEnyOr, PROVIDING- FOR : TSSUANcF: AND SALE OF THE TMCATM PROVIDING 'FOR VALIDATION OF SAID'CERTI- S. 'EAL OF ORDINANCES AND 't-' L•. '-?:? ?S: '.say,; ?°a-.t•,-?.5.??i,?ti? June. xs +no7 PASSED ON SZWND READING' June 29,' IOU PASSED ON TIIiJJD AND FINAL IIEADINM.AND.'ADOPTED ' '"- ,lutte"21,• 1961 IIERIIERT 1+1.' DROWN. AAttest= ` • 'AS?yor-Commlwlotler. • ' 1t: O. WINGt) City I1udEtor assd. Clerk. ' : ; .. VY . . . ORDINANCE NO. 654 AN ORDINANCE f ROVIDINC FOR THE CONSTRUCTION IMPI+;OVEME14T h 6 S, IdAL FACILITI AND EQUIPMENT OF MUNICIPAL STADIUM RECREAT1 fifA 'T CERTAIN FxIJDTNGS IN REGARD 'I'tIERETQ; AUTHORIZING THE ' TSSUANCE OF ,`,400,000 RECREATION REVENUE CERTIFICATES;. DE- F SCRIBING SAID CERTIFICATES; PROVIDING FOR 'THEIR MATURl'1'Y ` "` •"" '? DATES; PROVIDING FOR THE EXECUTION, NEGOTIABILITY AND s' REGISTRATION OF SAID CERTIFICATES; PROVIDING FOR REPLACE- MENT AND PAYMEN'T' OF MUTILATED DESTROYED, STOLEN AND LOST ? ANTS AND REVENUES AND CERTIFICATES; PROVIDING-FOR TCOVEt? `'. APPLICATION OF REVENUES OF SAID CERTIFICATES; PROVIDING 1OR THE' COVENANTS AND OBLIGATIONS OF THE CITY OF CLEARWATER UNDER SAID CERTIFICATES; PROVIDING FOR THE DISPOSITION OF i # .. REVENUES FROI THE 'STADIUM RECREATIONAL FACILITIES; LIMITING ' THE ADDITIONAL OBLIGATIONS WHICH MAY BE ISSUED AGAINST THE SECURITY PLEDGED FOR SAID CERTIFICATES; PROVIDING'FOR Rh-M DIES OF CERTIFICATE HOLDERS; LIMITING MODIFICATION On ; Ai`IIaNDMENT -OF THIS ORDINANCE; PROVIDING FOR THE SEVERABILITY OF THE.'PROVISIONS HEREOF; PROVIDING FOR THE ISSUANCE AND' ]) SALT, OF THE CERTIFICATES; PROVIDING FOR THE VALIDATION OF .,' j SAID CERTIFICATES; PROVIDING THAT THIS ORDINANCE IS AN E?ZRGENCY J1EASURE AND PROVIDING FOR REPEAL OF ORDINANCES + AND RESOLUTIONS IN CONFLICT HEREWITH. i 13E IT ORDAINED BY THE CITY COM14ISSXON OF THE CITY. OF CLEAR- WATER, FLORIDA: ARTICLE I STATUTORY AUTHORITY FINDINGS AND DEFINITIONS. 1. AUTHORITY OF THIS ORDINANCE. This ordinance is adopted pursuant to the provisions of Chapter 9710, Special Acts of the Legis- } , r .F: .. ' lature of Florida, 1923, and amendments thereof and supplements there- to, being the Charter of the City of Clearvrater, and other applicable provisions of lair. l}? It is hereby found and determined as follows: (A) That the City of Clearwater is now the owner of land 14 Lp.. acid premises in said City described as: ',` That portion of the replat of the New Country Club i 'F. Addition Subdivision according to the map or : plat thereof ac recorded in Plat Book 20, :,•.P Page 6 of the Public Retards of Pinellas County, 'Florida, more particularly described a,: All- of Block. •E. and that portion of Block D bounded by Palmetto Street oil the North Missouri Avenue or, the East, Seminole. Street on the South and Black 1; t ;V `:.. j: •f::. •;}" on the hest cF'".<s : _ in the City of Clearwater, Florida* that the City contemplates using the # ? .. I1r`,,'Y jy 1?,: °..'. rt+; •,. ,'4.• '.lr FJ`? ''1 ,r land and premises as a recreational facility so long as the certificates •hereby atithorized are outVstandintJg, and that the revenues,derived .4nd to : :•i ?{, `~dlh V';9 a7•,'i4lLlfly#t i'4••` '4 ' kL i£} -. er • Yl: vp er Fri ±. }i" , F' i•' r( 4 ,t k "{i? q, Ay?'?L3?.j F•.ti'.F}. taP. (a. J ?t 1??? ?s.F y yes - ? ... .: . ' • - . •, .. .: `?„fl?'Sk,?'` `ice .. .. .- ?.r `.?'°•..>^;••'-?"r:yi.4`?z,-.; .`.; `;, 7 `K ?a? -,r'r? r •p' < • y.z ?'y ' ,lla;,.;:n?±,? ;?,,_; • : .,.;? ?Y.e; "t ` • t 'L`ea ,? :,flE:t E ? ' , s , , ' be derived'from the Peen, rentals or othcr charges for the une of said land, premises and facilities constructed and to be constructed thereon', I as heroin authorized, are not pledged or encumbered in any manner. (B) That the construction, improvement and equipment of a municipal stadium and incidental facilities (horei.n called "Stadium i • Recreational Facilities") as hereinafter do3cribed, are, far a proper municipal purpose, and it is imperative i.n order to preserve, the public i health and provide proper recreational. Facili,tic , ...for the inhabitants of the City 'of Clearwater that said Stadium Recreational. Facilities k tshall be constructed, improved and equipped in accordance with the'pro- visions of this Ordinance. :ft',• ' (C) . Th t ti [' ty o f C v , er a of Oc ober.'.=:;i. 4?. - "' ? a ie .i learn ate:r did and d to t ?.,;?,.t.< :?+;°`.? ? . '' lo, 19114, enact.' an ordinance by which said City granted for a period of ?; : ; a twenty'.year, to the. Florida Power Corporation, a franchise to construct;.;:: F:t. , ['srR.l.A,r t maintain and operate electric light and power facilities for the purpose '- ^ ;s of supplying electricity to the City and its inhabitants. , In consideration :°? ,' F,. of the granting of said franchise and pursuant to said ordinance, said :'`° s :'Wi't`: i:, ` '° Florida Power Corporation, its legal representatives, successors and :;'_:'''',<` <;,'. ;.?' : ' assigns, is required to pay annually to said City, and the City has the' i, :`!`•;+ : power to levy anti collect, an amount equal. to tour per cent (0) of the {.?;.; ''t; ' gross receipts of said Florida Po?tier Corporation from tine sale of electric sir;' .:', ` 3 ener in the Cit. P o£ Clearwater hereinafter called "franchise taxes" ;. '`- ;' #. gY 3 ( ). 3 That it is deemed necessary and desirable to pledge such franchise taxes >'' ?'.';'":: r• .,!,'., is ,.:k ? .. - '?? ? .':k'? ':rt`,'.:. :r,'., . ' to, the payment of the principal o.f and interest on the revenue certifi- !,:` ` - ? _ ' ;?; ';s:a" =;f?` 1 ' . ?' `f: ?:z??"??,'err.?'}?'1?,';,1•,`.,??"'..€rCp's cates.-issued pursuant 'to this ordinance in order to assist in the finan- ;', : ?, .... , . - ;f CIng of the?,construction, improvement and equipment of the Stadium :'!'.. '''' 4`;?;:?i „?.y , :Recreational j?acilities as provided for in this ordinance. k;: _f .'+y `•r}.sj`?tf,' (D) That the roverues to be''derived from the Stadium Rebrea- ?` ,;.',: j-` ,. .,'L, '+' :tl: ear, ?,'?E ' . , P? x ere Wafter pledged :j '?1?; =f;F,?, tional. Facilities to ether with the franchise ta. es h i t `;i,. .'i'' '::.P' ?:' r: to the payment of the principal of and interest on the revenue certificates. ! ;i ::":?:_ :r. ,5, .,, i. - v . ' issued pursuant to. this ordinance will be suf.fic:ient to pay the principal ,z,,> f.:,' '. ',"!;fit(': 2, 1'r'``:: °:'' ?' of . and interest on al.l. o,f the Recreation Revenue Certi.fi.cates issued ? <?:"`' i4 .'Erb' i?b r'• _.-,I?.••L"`k' i_Y. ?`Nj °??j`, •r_ '.,'. +rst x. ? { ;?Y?r 77: r .?,S, p 't;:t I"* - )' f. •'t r' ?J..•? ?t {C. ,tF'r?/App g?A,e-'?` L >r?R'? ?{f`js?!'?? ? ., ? ? ? - ? .. ? •, " , ''r,??' 'r[P' 'ie%%r .•''z• ;;. ?J•r,? ?(?w:b+sj? ?• .tar ? ?f .. _ t• 3q «`.e??: `a rpp r?; fitt. r I //f?/? ?+ / (? s. //? `„'?';?z`:<:? :'i ;s,y.%?.: ?,? ,,• a# r,; T ??" k ?^'???3 a".r3. ?°y ? . A? ?Rl Vn??JJ) ? ?. •' _ .. 4?'? ?hr r: i if{? .f :3'. '.i. Y.??? ?^???'°. ?'`s?s ` y^ ,?? :, s,QUi'f' t? °r ?.- ' .t ?t•t+tk}?i3Sw.`?ii.?' ? 3?.'sGi?iiWws?i '?el.."y.'!•.`?a-- '-rc,` ° •3. "Fv-? ?'"i^t:?,?'..ri.°?wn.. '.\ -,.;.^. :r? +caa?i?°n.w'tip!'F:''j?'«!irtd."?+?`?rS:iL1',?i?.°a rEa..rS+d1:*:`fiK •?°titi T:i?!w, rt` ,? ;,C ????.,r '?3' u•.,? rl?, ?A? , ? j t' ' e?'ii?.r.iA'p_fAAfP? .1 sex, •,51,S'••''t .' F i• :.... ° ` +`? 1, " `'•, - F, % pursuant to thin Ordinance: and to make all re: erve:, sinking fund and •y' of}ion payments provides} -for in this Ordlnartce, and to pray -he r!eces- nary cost; of operating and rnnint.aining said Stadium Recreational Facilities. (E) ThaL the principal of and interest: on the Recreation Revenue Certificates ':,o be issued pursuant to this Ordinance and all t of the reserve, sinking fund and other payments provided for in this ; Ordinance, will be paid Sol r ly .Groin t11e Revenue derived by the City' ; ;= r 4, from the 'operation of said Stadium Recreational Facilities and said ; • franchise taxes, and it will never be necessary or authorized to use the ad valorem taxing poser or any other funds of said City,to pay the principal of and interest. on said Recreation Revenue Certificates' to be issued pursuant to this Ordinance, 'or to make 'any of the 're-' ' serve, sinking fund or other payments provided for in this Ordinance, t and . said Recreation Revenue Certificates issued pursuant to this } Ordinance shall not constitute a lien upon any of the properties of said Stadium Recreational Facilities or upon any nUher property what } soever of the City. r t .. (F) That construction, improvement and equipment of said k Stadium Recreational- Facilities shall be undertaken and completed-in ` accoHance with the plans and specifications prepared by Marr and. t. }iolman, Architects and Rnwri.neers, Inc., and heretofore filed in-the ;'• office of the City Auditor and Clerk,. at an estimated cost of $400,000. 4 - Such cost shall be deemed to include the cost of the construction, im- _•-•.• 3 provement and equipment of said Stadium Recreational Facilities pursuant ` to said ,plans and specifications including the .acquisition of any lands •'y` `` , .: or interest therein and of an fixtures or equipment or properties deemed. ,: ; ;•:- interest upon t;h Z re tion Revenue necessary or convenient therefor, e c eC a F,4 Certificates issued pursuant; to this Ordinance prior to, and during and for six months after the completion and placing in operation of said Stadium Recreational Facilities, engineering, architectual, financial ppL •?1.' J ?:t': 7 :.pT '?* ' ,; : ?i'; tr: and' legal expenses; expenses for estimates, of costs and of-revenues; ex- ' ;P ` '>", :?` nses for plans,, sPecifications and surveys and such other ex 1-5 Penses as p,e. r j??rc•.r?'>,?• ?t' ??? .a'?¢"???5;?`,r'?j???•1?":' ?i?1???, 1 .. '"r.'' 4e3•?YS'1:`Yls(?.•,'? I[•1 .. ? Gf "?.+ }tly.?4 T)y???f.? .. t 7.r;'?r°ry'f?? '. •f. ! Yw,t••' k ?! r3. ?.}• ' ] - .. , ?/ ^. . '; ',Kin ,:•?`„'FC?:i :,dr • - ? urn 4, stay' be necessary or incidental to the financing authorized by this Ordi- nance, and the construction, improvement and equipping of such Stadium 'Recreational Facilities and the placing of same in operation. ,; . 2. ORDINANCL TO CONSTITUTE CONTRACT. In consideration of . ,tllc acceptance of the Certificates authorized to be issued, hereunder . those who shall hold the same from time to time, this ordinance :;hall be deemed to be and shall constitute a contract between the r City of Clearwater, Florida, and such certificate holders, and the covenants and agreements herein set forth to be performed by said ' City.'shall be for the equal benefit:, protection and security, of -the legal holder, of any and all.o£ such Certificates and the coupons'' attached thereto, all of which shall be of-equal rank and-,without- .preference, priority or, distinction of any of the Certificates r j'' _. ' coupons over any other thereof. el;ccpL as expressly provided therein and herein. 3. DEFINITIONS. The following terms shall have tile,Pollow ing meanings in this Ordinance unless the text othenli.se expressly requires: /' {a) "City" shall mean the City of Clearwater, Florida. .t '.:. (b) "Act" shall mean the Charter of the City of Clearwater. .' constituting Chapter 9710, Special. Acts of the Legislature of Florida, 1923, and* amendments thereof and supplements thereto. (c) '"Certificates" shall mean the S'X00,000 Recreation ' Revenue Certificates authorized to be issued pursuant to this Ordinance - and any additional Certificates hereafter issued pursuant to sub-section t . 13 . (L) hereof in the manner therein provided, and ' the inter coupons attached to said`Certif'icates, " A'. Q {d) "Holder of Certificates" or "Certificate hoi any similar' term, *hall mean any person i-rho shall be the bearer or owner of any outstanding Certificate or Ccxtif icates registered to bearer or ' not registered, or the registered owner of any outstanding ` r,k'F s'" ,?rise Certificate oi" .Certificates which shall at the time be registered `' : y ysfr' 'rs =°,; -other than 'to bearer, or of any coupons re 'resentln i,nter-est accrued ? :;? `x..'.11 r• i`'ry;,t.N "i,r":: r:?{? ,.,.. - _ ` r 4t H )f u`A.?f``.{.:7:. '`i? "?•'. x? ' ,"'?'°';a`r?rrsFe4'?.4I?Ntikia; .'?i.. " ??,?n?+n`.1? ?t'?..Y' ?F.?, L?!N'!'"'., K?.s ,.. r ? ?" ;--'., `w ? gyp'-•• ,#,q;•f rl.`, [r :• o?> tf':..:.r`a:?V:?-r:.='. Now" 7 ? ?'f •'.?` •?6 of ' .•?y, ;f ?r 'spa ?,f ?. ?:'.. z { yr.. /??='8i'.£,1?;gE ?'?"?e;kff-y?. ?4}?."7 F'i•' ? . t. ?',,'1.{a',' ?,!' ,• .ter J? S a , ; or to accrue on aId Certificates. ' : "•''x (c;) ,star)-,um Recreational Facilities" ties" shall mean the complete . municipal recreational. f'acil i.ties of the City of Clearwater, constructed and to be constructed which shat.]. include a complete baseball stadium, ' t' ... baseball diamond, scoreboard, grandstand seats, box seats, wire screen, ` TV.and radio facilities, press box, first aid station, locker room for the-home team consisting of lockers, :showers, toilets, office for } manager, traineets room, visiting playerst loclcer room, showers and t;i.cDcet booths toilets, office.for ground,keeper, concession stands, and office, colored and whi.tc'rest room facilities for ladies and raen, t`. a es lighting 'facilities, parking facilit , , ." I .r ?'. i •i ?, ..1S fin'-. ,,rF ..i 1.i•1 i. (f) "Revenues or Grass Revenuest'. shall • mean s.ll rates, fces charges, 'rentals oi, tither income received by the City,, or'accrued {; r `'`;. :F..•,:; `: } to the.City, or any board or agency thereof in cc Lt;rol of the manage J. ment and operation of said Stadium Recreational facilit-ie.:, and all 'r s parts thereof, frorn the operation of said Stadium Recreational iaci.litties, 'Y f is . 'I all as calculated iri'accordance with sound 'accounting' practice. • 'Revenues j ,. shall he specifically deemed to include, without being .1-i.mited to, any and all rentals 'or other payments received by the Citry from, lessees, : licensees,- or. other persons .for' said Stadium. Recreational Facilities,,'?.:; `.'• or any part thereof. F (g 40peratinf; expenses" shall moan the current expenses, ' paid or accrued, of operation, maintenance and 'repair . of said Stadium + 3'. r'• f - ,z Recreational Facilities and shall include, without limiting; the i. ='? -`,Yir Y•''' t`t=', .? generality of the foregoing, insurance pvemiums and administrative s `;•• ;t expenses of the' City properly chargeable to else Stadium Recreationa? ,,. .tt •" `; , r; x'-fit. i,3 ??\' 'I 1? •-t`' 'Gl'si, Facilities labor , the cost of materials and supplies used for current i r' ¢• 'r ','•i.i4ti?,?'?i `7?'f` ,'Fe •'i.y?T.:^, :4? , .. i ? .'+'`'R~•'t?'1' 'r'{ .! operation, and charge : f0 the accumulation-of appropriate reserves r .. v? ''r?:E a not n ually recurrent but hi cli such may y . p '' .s _ k °'.: • ` 1< a n ware' as ma i easonabl be ex ected'' r to be 'incurred in accordance with sound accounting practice. frGperatint. .' y t' 4l", '?jjl?. ;'s'?`•, Expenses i shall riot include any allowance' for depreciation, renewals. or y .. ? 'r' sr._• , . Y.. or an charges fox' the :accumul.a:tion'.of, rreserves-for capital ^}';•'•!'r.,T- k` ?;•?3,?,s??{?r'aak,4?3 ?:!,?S' ??-t1i .?"?;g,.,V;:•... ...-.` ;'' :?',replacemerts, renewals or. extensions; provided, howdver; that, whenever i t i!; r a s,; ??(r ,. ¢ 4ks{ YW'?l lily .I 5.,, ¢r .'Y ?•SS,. ,??i'c.:''.r?`: ': r ?. `t?i't'??+:5":,-' 1y ? .. /?? yy. JY? ' ' w r? ' . , - ?'"-}? •'?• ? s °.''Sj?ul ?y?.5? 4-I?'?? ? 1ke?a ',tF?j '?,:' s, ?„q'"`' '.?^.'mil Z?. 'f"'. (lTj ?;. • !. ',., .. _ ? .. I_ J .Y'l 4 ?'-'•?''r.. C"?' st ?#?,'r'^......+w ^cMrSrs? .wrrtr.+.!wr•?..,.?.,.'r.*,Yf?.w,Mr+IW.a.s?1W f!.+..w.+?rir .';7', i. "'??t?, `:.?i 'i?: .mot 't,3?`?,.:. } '.ix - t . •.r ?.asF Yxrsennf,wr?l. lv, -*'scj +: f ?: ! ? a r?..r'C''•. fir. ,"H :f??<§%e','•:.,p `?'=1? .._ .c, ? #rr 'Jr '; s'. c'. ' {: -?? ` .4 • ? tI. F,r^;• K Eel • .and.wherever the City shall lease or license any portion of said' Stadium 'Recreatibnal Facilities 'undr.r tormsl providing for the pay- ment of net rentals to the City and wheroby the lessen or licensee pays part or all of the costs of operation and'maintenance, then the part of such costs of operation and maintenance paid by such lessee or licensee shall not be included under the term "Operating Expenses" as, used in this sub-section .(g). (h) "Not Revenucs" shall mean the gross revenues, as defined j in sub-section .(f) above, remaining after deduction only of operating expenses, as defined in' Sub-Section (g) above. ;: . =. (i) "Franchise Taxes" shall mean any'and all moneys re-' ceived by the City- from the Florida Power Corporation, '.its legal, representatives; successors or assigns under the franchise granted pursuant to the ordinance enacted October 10, 1946, and any and all, moneys received by the City from the Florida Power Corporation, its ?.°. • ':3`:.' _.,':,1 z legal representatives, successors or assigns, under any extension or're= neural of said franchise or from any new franchise granting the right. ` ' :: '"•E .:=} . . ? to construct, maintain and operate electric light and power facilities. E' :' '•' ; ?....c s ; " 'for.the purpose of supplying electricity io the City or its inhabitants. .. ? ' r (j) "Trustee's. hereunder shall be the City Treasurer of the City of Clearwater. .(k) -Words importing singular number shall include the plural ' number .in each case and vice versa, and words importing persons shall include firms and corporations. ARTICLE II ,.....'...,;. ;. _; •. AUTHORIZATION, TERMS, EXECUTION REGISTRATION r f 'I AN' ISSUE OF CERTIFICATES. AUTHORIZATION OF CERTIFICATES. Subject and pursuant to the provisions of this Ordinance, Certificates of the City of Clear- water 'to be- known as "Recreation Revenue Certificates" r .,? ,?? a?,• - are hereby ?.. authorized to be issued in the aggregate ' ` s=;=,:=•Eti,.,?af<< ;?': ? -?'f:I?.,,,z-, principal amount of not :'. ,.,riw-?.. exceeding Your Hundred Thousand Dollars ( 6400, 000) for the purpose of financing the GQ5t of the construction, improvement and equipment of Stadium . Recreational facilities as rov z•„ - p ided in t1115 .or dinance. fi .. ? } x84?tw? 4`T}:x`?t? 'd. ., •. 'rz. ;" y '"#?Y?•r vSAF••1yr?yy, .`.i.„.F t yy5yf ? s?e x ?'FY "F ?•?j ?•",? .3 .'y• .. •,???r?y. _ , cay-?"'r E .; fin.; $,?-,«5"k. ?'\ ?W -wv..r,. ' ° ' µvw,„,,...y.,....._.,.....;_.?-.-_:..,•.---..... ,..-;-.. 1...?-.r--«..; ' ?' Y 5 ".i I:,?-a.?..?--i -$'.` 'KIT: """" +,M sF+•.. '-+'1^":`? y: r.,?..; ;„•-,-.:. ;,o,..,.tiy.' <.? a ?.`' ?• Y:...r` YEAR AMOUNT YEAR MOUNT 1955 50 7, 000 1970 13.;000 . 1056 7,000 1971 13,000 ; #. 1.957 8,000 1972 14,000 .. r .. , - 195$ 82000 1973 14 , oQO .. . ?..,,6 ?,? ?-.?:, . Tp;,?.?? •:. • 1959 8,000 1974 15,000:.....::, 1960 -- ;-ee`a 9?oQ 1975 1.6, 000 1961 92000' . 1976 3.0,000 1962 ,000 10,77 17,000 000 1963 10;000. 197$ l.?;000 1964 10, 000 1979 1$, 000, 1965 11 000 19,80 19, 000, 1966 11;000 19 1 <c?,000. ?`<'.! :,''•.,.ywl,.L`,."=r`r,• k. S' t 1967 11,000 19$2 21,000' 1968 12,000 1983 22, 000 1969 12,000 1984 22,000 F' The Certificates maturing in the years 1955 to 1964,. in- elusive, shall not be redeemable prior to maturity. The Certificates maturing in the years 1965 to 1984, inclusive, shall be redeemable prior to maturity, at the option of the City on April 1, 1964,'or on any ` 1;•'??; -???•? f interest payment date thereafter prior to maturity, as a whole, or in s .. part in inverse numerical order, at a redemption price of par and w; r. .,, ::'•.: „p•,?ti r ; accrued inLere,t to date of redemption, plus a Prerriunr of Five per cent of the par••value thereof if redeemed on or before April l,, 196$; or a 'premium of. Four per cent (4,?) of the par value thereof if re- deemed 'thereafter but on or before April 1$ 1972; or a premium of Three per cent ' (X;) of the par value thereof if redeerncd thereafter but or, or before April ' 1, 1976; or a premium of Two per cent ' { 2 j } of '} , '; s';. • ). F': .`,,t ',; .I ,v.. .-? ' the par value thereof if redeemed thereafter but on or before April 'i, r'7...•iR li..` i't.. `} `? - 1 {, t?, ,.r: - I, t; 9' ts, ,I 100, and without remium if p redeemed thereafter; provided that a )•.+=::. :.t;." ';. notice of ''such intended-redemption shall h =s;.,b•, .r); ?(,?, ,,,?'' have been- published. by the ,, ??".`?°?•°:;r;:'?•'. .''.,, _`'• 'i} # ?tK y :;? i'i''°' •<J a =.A .. t'. .)• • t,yt`.' • . ?',':rl' ' ?:?;?`m`yv- ?S 'mod: ;?_i,•s`':,;,jT;?;,f?' ) '. fs. ;, ! '' • x dI "3 "Y:?.f??"?v'? z •} € '•_a ,A .,` _ ?'oa?. ?., ?', t;?r\:'?'•S ?.Trt\..``{`req. `,., :?3•:"?`^fij -?+t? ?s?yi??^?5,','d3w,a•+,i5,?h . .. 't.a.;'"t'..I'.!'«fj:`'''!?".-'',°. '? }.`.I•;4'I. ?BT x7`Le i`;,;•?=},. , _a . .: - P'?i"7. -,:.i.. s;' rr '? ? ( ?.Y.:t,}.?y%'?is;`??`?'?'• .`dr • r`-)? . ;f - ' ,. .?:'? by '?'?_ a ,2l { =e"•' e{:'. ';°x ? i ? ?2y .i' '?'? f,?G !{ ., .. _?.1'f " l;j, r r.r-•sb?+.,._ ) •° Y ,"'"w°w.`'•?','.r""' ."^.'"..^?:r` to C'!'['~„"., ,;;•:-.K--`T'"-r»^='..^.!++Sw?w+s.- l-v •.i'r.t ,5?°':`E,'=:: e1 r, >:r:.., s h'",'?nravree?'fr+.r'{'.."';.. i "'""";•`, "'i . i':,"`., 7FI -S ?' 'i?• •? .?? -nom, <yir`if••'••?-?':.r"'< ... ;s.. ..,." :e: d.,r t., i`r ,.,: •.•e: ?:?ES'.'?k44,,.,?.??.'1a:s.. n,! , .£.?,?? :•a k: .i'?4 ?• •1 ,?. .. t_. •?: i\.. S'. N: ., '=3 n.[: ..t of /:'. ..' nLS :!'. '\.N '3 ?+.S9,r 74 ? .s . t.? '?i?• 7 .,f.." ?•., .e't: ' s:f°. 'P.` V• IJ:r'•? t; .f,..• ?, Ei:: .A"',.• •', { 'pagT`4 . f PIN y .f } +? ? ,??, 177 V 55 Y cl' € _ ¦t:t?!'?.??y???l'.??i-If`1?_Y.tt? _ a?C `.:i:Lfl t_t: of the United States of America, at tho principal office of The Chase National Bank of the City of New York, New York City, New York, City at least once at least thirty days prior to the date of redemp- tion in a financial paper published in the City of Now York, New York, and provided furthor that if less than all of said Certificates subject to redemption are so called for redemption, the notice of redemption shall stage the identifying numbers of the Certificates to be redeemed, Said Certificates shall be issued in coupon form, shall be payable with rospect to both principal and interest in lawful money and shall bear interest from their date, payable in accordance with r' and upon surrender of the appurtenant interest coupons as they severally mature. 6. EXECUTION OF CERTIFICATES AND COUPLINS. Said Certificates shall be executed in the name of the City by its City Auditor and Clerk and its City Manager, and countersigned by its Mayor-Commissioner and shall have impressed thereon the corporate seal of the City. In case any one or more of the officers who shall have signed or sealed . t F any of the Certificates shall cease to be such officer of the City before the Certificates so signed and sealed shall have been actually sold and delivered, such Certificates may nevertheless be sold and delivered as herein provided and may be issued as if the person who signed or sealed suoh Certificates had not ceased to hold such office. ; Any Certificates may be signed and sealed on behalf of the City by t::•' ' such person as at the actual time of the execution of suoh Certifioates ` shall hold the proper office in the City, although at the date of such Certificates such person may not have held such office or may not have been so authorized. The Coupons to be attaohed to the Certificates shall be J authenticated with the fae simile signatures of the present or any future City Auditor and Clerk, City Manager and Mayor-Commissioner of z•' ` said City and the City may adopt and use for the g purpose the f ac E ' - } , simile signature of any of said persons who shall have held such ' , < t ' ?i! .• i 3:. .t'l^ . mo ';. 1 f '? ' • , '? ' ' ...!F^.•,-..,.wnr"-rte r ....-.y„'. • 1t 4 ? ` ` . ..sy ; ye.. .l ' 'yt• f • • ' 1• , St t. Y . : Y S? `_ ? {, fir: }? ?,: ?. .+i'. .. }j: `(, ? ^S ? ".d - ri•+ Al .:f+ .(„',7 -.i:,. :f' t ;E•' "" `;kx?'t+:jr.:.,.>a.r':.;?c".x•.,. ., - .. .. ,. . "+ „' ." .. r -.i f' offices at any time on or after 'tire daLe of the Certificates, 'notwi.th- standing'that.he may have ceased to hold such office at the time when said Certificate shall be actually sold and delivered. i' 7• !dE(',QTTABTI,ITY; AIyD REGISTRATION. The Certificates shall be, and have" all of the qualities and incidents of negotiable instru-- ments under the law merchant and the Negotiable Instruments Law of the { State of'- Floridaand each successive holder, in, accepting, any of said ' Certificates" or the coupon; appertaining thereto, shall be conclusively . 1 ." deemed to have agreed that such Certificates sha11, be and " Dave' all: , of . the " qualities and incidents of negotiable in"otruments under the law merchant $ and the Negotiable Instruments Late of the State -of Flori da,''and' 'each ?":=z;".,F;f,`;?=,"t=`.;?_ `-r• 4bccessi o holder' shall further c co rc e X lu3iY l.y deerr~d tC? have agreed 777 ! • '" ? i' r';, is ?.'y^'? 3 that said. Certi.ffcates shall, be' incont?•est.7b14 in the wands of a bcir,, I' •?1`'3 .s'• °•I'' "'` .. 'a •. 1i` yl ?. 'i ?","'?4.?rY°'`4+ j do holder for value in the' manner pt avid, d" hcreina?ter in the farm , i 'of .said Certificates. The Certificates maY ?: .. be re -istered at the .. '? . :??.• ';?: ,j: f "ceptfort of the holder as to principal only at the office af' the City Treasurer" of the City," such re i s`tration ' to be noted, Y ' , [;•- on the back of said Certificates > ?.- ;.. an the space provided therefor. After such registration no transfer of the Certificate:; shall be valid unless made,aL said office by the regis- tered ormer., 'or by his duly authorized agent' or representative" and Simi l.arlY noted on the Certificates, (' t but the Certificates may be dia :f char ed from re istrata an b being it like manner transferr d t h •'f"1. ";.`_ ; ,:.'.' ; :; ; ` g by ?. in e a eare.r and thereupon transferfabil.i ty 'by delivery shall be restored. At, the option of the holder the Certificates cates may thereafter again from time '? • ;`?; :, • x"'",,.' -.l' -:j `'° . •f registered or transferred to bearer as before. Such regis-' trat:ion as to 'Pringipal only pljalj. not -affect, the ""negotiabilit of the coupo;ru which sYJall, cor.t,:inge 'to pass by delivery. RT. I+ICA'';S :U ?,," UI~Si.? } I I TILATED CE DESTROYED STOLEN OR LOST* :" :}_,. ; : •:,; ., r, :t.,A." .1, :; : c,.'A, case Certificate' ertifi ta become any mutilated or be destroyed, stolen 1.° ,y?y4s'• "?'•^,`y'I f????•zf:',}=I?,.s'. .f.y "£':. ". ; t ,t 1 • '! . j?, ;,??}?'? '..?, r, t" l? t'"f'1'ris rl=fl ? ..l i `: ,. !. i? ,. -. C.,r., ,?.,?•t ?t ?t ir{ , r' '??ffrf?" :'F' .`i•" 1 'i .. ? ', ??? ' ? - ? •"° '.Yrf' ?r;e: .>;'L. ' ,oaA?i oar % ,'_? : ' s i % % Tr":'. ? ?'?;i .?",>, dry ??" ?":" ? +?""`'Y _ •,s ? ? ,rj,F• Y 3 7 rLi - j '>,` . '.t . - `" ,. r r" '. -; 1:;?,e:. •5.;?• .?:`r:. F'.}?1' .•tl" ,,k V"?Sr.??'4Li?? :I 'j - y f i ? }j(.{C??(I`1H't'?"'??( ?'"f?'!'?/,r:ir9 ,1`" "? .s_ M0,6; ee:7r2l"m ?loa?suwnMM4w?f+.'."'1w+raw.r+w.rc,rre.. "..e.n....,v.n-......,...•.... ._,..._..._..-- ------------ - I „t :I f`,;+•i;,1 `'?kFF-, ? •. •'dft t F'?tt .;; f,iF :.'r "h'. ;u'et^^: s` -sR%:d:?.3/;:r_-%2 a: L:. &, ,.. t:?d;'"l, ul.:.; .?? •? :.: 'F kV.: ;t •r• ..31 r?`vt.'? rl;. .tr a'F: ;?:.o',.-.:''•tu?>: :l i'r-,-GF.'z•?; '?'? .,,, :us:.•:. -f ",. r ,1r.3 •? F - "1 .. c •., rill . ? .. ji: % 1 or lost;, t; he City may in its discretion issue and deliver a new •5 Certificate with all unniatured coupons attach ed of like tenor as 'the = Certificate and attached coupons, if any, so mutilated, destroyed, a stolen or lo st, in exchange and substitution for such mutilatdd' :.... ; Certificate, upon surrender and cancellation of such mutilated... s IN " Certificate and attached coupons, if any, or in lieu of and substi--' tution'for the Certificate and attached coupons, if any, destroyed, stolen or lost, and upon the holder furnishing the City proof of his F' . ownership thereof and satisfactory indemnity and complying with such other reasonable regulations and conditions as the City may prescribe 1;' ? .r ( ' - '..I.: =' •;.: • . ?; r ! '., a • n paying sueh ekp,? enses as the City may incur. All Certificates acid .:kt: ._ ,' .• ..,IeE,1,.;'' . _ • 1 y e. , •' `?, •= at ? ' t coupons so surrendered shall be cancelled by the City i'r_easurer •'and' ,?' - , `, pj F ,' r r ' :If kel.d for ,the account of the City. If any such Certificate.or couPon shall have matured or be about to mature, instead of issuing a ,substittzted Certificate or coupon the City may pay the same, upon being indemnified a's aforesaid and if such Certificate or coupon be , . lost stolen or destroyed without surrender thereof. '9 - ?'` '`'''?,.ti"'• ;'1 , , . Any such duplicate Certificates and coupons issued pursuant to. this section shall constitute original, additional contractual. obligations on the part of the City, whether or not the lost, stolen, or destroyed Certificates or coupons be at any time found by anyone, .,',:• ?i.:,,f_ ' . and such duplicate Certificates and coupons shall. be entitled to equal and proportionate benefits and rights as to lien and source and security for payment from the Revenues and Franchise Taxes with all I =Y' ;"-1 :,"1 , other Certificates-and coupons issued hereunder. 4.;,'.;;'.'..•; : ':':'` :f 9. FORM OF CERTIFICATES A71M COUPONS. The text of the Cer- tificatcs, coupons.'and provisions *for registration shall be of substan=' ,;?: .:::. ;•=; , , . :. i tially the following tenor, with such omissions, insertions and varia- ,';`.,:;:'?.,;:=?':';`•' `'' •tions as Tray be necessary and desirable and authorised oi, permitted by this Ordinance, or any subsequent ordinance or resolution adopted- f•..-,:> . r t 441µ.'1 ~'z ?`+ , to the issuance thereof. prior 1. -14 . i i AV, f FI •i' .t i I . e 1 ? ., Js,t.j`?y;s R'' ?E?••Sas:lY-:?•r'"', ?? .dF A. , • ', ? • qif •," ?i1 ?F{rrry h ? °?•'?'i'!1? . ` ; i `. ?' 4 ? [y C1 ..}} ???) R f.:i ) ?.,i •',S? ?,j? ?;ii ? ' • 1 ?` •'z?' k ? ° ? ? T ? -•?- l K?.F,- . ??i ? i{: M1 u? y ' f ,i 3 No. UNITED STATES OF A14BRICA STATE OF FLORIDA CITY OF C1LEARWATER COUNTY OF PIN MLAS RECREATION REVENUE CERTIFICATE 10119000 KNOW ALL DIEN 13Y THESE PRESENTS that the City of Clearwater, in Pinellas County,, Florida, for value received,, hereby promises to pay to the bearer, or if this Certificate be registered, to the regis- tered holder as herein provided, on the first day of April., 19 ,, from the revenues. and special funds hereinafter mentioned, the princi- pal sum of ONE THOUSAND DOLLARS ($l, OOO ) E 3 S is `?, t ?:":??? ? tt ,.'_?' •..r:. ??? •-. e? y¦;0 with interest thereon at the rate of per centum ( %) per annum, payable semi-annually on the,lst day of April and the lst day of October of each year upon the presentation and surren- der of the annexed coupons as, they severally fall due. Both principal of and interest on this Certificate are payable, in lawful money of the United States of America at the principal office of The Chase National ' Bank of the City of New York, New York City, New York. ` This Certificate is one, of an authorized issue of Certifi- cates in the aggregate principal amount of 000,000 of like date, tenor and effect, except as to number (rate of interest).and date of maturity, issued to finance the cost of the construction, improvement 'and equip- ment of municipal stadium recreational facilities in the Oity of Clear- water, under the authority of and in full compliance with the Constitu- tion and Statutes of the State of Florida, the Charter of the City of Clearwater, being Chapter 9710, Special Acts of the Legislature of Florida + for', the year 1923, as amended and supplemented, and other applicable statutes, and an Ordinance duly adopted by the City Commission of said City on and is subject to all the terms and conditions of said Ordinance. This Certificate and the coupons appertaining hereto are pay- able solely from and secured by a lien upon and pledge of the net re- venues derived from the operation of the municipal stadium recreational facilities described in the Ordinance authorizing this issue of Certifi- cates and franchise taxes received by the City of Clearwater in the manner provided in said Ordinance and does not constitute an indebtedness of the City of Clearwater within the meaning of any constitutional, state- tort' or charter provisions or limitation, and it is expressly agreed by the holders of this Certificate and the coupons appertaining hereto that such holders shall never have the right to require or compol the oxer- cise of the ad valorem taxing power of said City, or the taxation of real estate in said City, for the payment of the principal of and in- ; terest on this Certificate or the making of any sinking fund, reserve or :'st other payments provided for in the Ordinance authorizing this issue of Certificates. # it is further agreed between the City of Clearwater and the holder of this Certificate that this Certificate and the obligation evidenced thereby shall not constitute a lien upon the aforesaid munici- f pal stadium recreational facilities,, or any part thereof,, or on any other ?.. property of or in the City of Clearwater,, but shall constitute a lien ! t only on the net revenues derived from the operation of said municipal stadium recreational facilities and franchise taxes in the manner pro- vided in said Ordinance, € 61 I#;s?nw«. .?... ?^.-^- -,7;17 AX?11 r_e*s6a°"`•"....W . ..?..T *.r.,.rt-...m...: •-< ., .. > •S l?.ii r'. 3 r? r , { r I 1 s i el?? • :1 -i s ?i I f i Cs',?4'"a?f' .4.?';.Y:,`, e_ ?'„".•?tr-•,_.;Yl.••t, r .?f'??.}i'•'_Cb'_a N i1i•?r:=1 _?):: .;.??rf.., ...?fE" 3 wr1 The City in said Ordinance has covenanted and agreed with the holders of the Certificates of this issue to fix and o strablish and maintain such' rates and collect such fees, rentals or other charges for said municipal stadium recreational facilities, and each and every part thereof, and to revise the same from time to time whenever neces- sary (subject to the provisions of any contracts with lossees or license's of such facilities, or any part thoroof? as will always, to- gather with the franchise taxes plodgod to the payment of the principal of and interest on the Certificates of this issue in the manner pro- vided in said ordinance,provide revenues sufficient to pay, and out of said revenues shall pay, as the same shall become due, the principal of and interest on the Certificates of this issue, in addition to paying, as the same shall become due, the necessary expenses of operating and maintaining said municipal stadium recreational facilities, all reserve or sinking funds, or other payments provided for in said Ordinance, and all other obligations payable out of the revenues of said municipal stadium recreational facilities, and that such rates, fees, rentals or other charges shall not be reduced so as to be insufficient to provide revenues for such purposes, and said City has entered into certain further covenants with the holders of the Certificates of this issue for the terms of which reference is made to said Ordinance. 1 1, The Certificates maturing in the years 1955 to 1961, ' inclu' si.ve, are not redeemable prior to-maturity. The Certificates maturing in the years 1965 to 19_84i. inclusive, are redeemable. prior to maturity, At the option of the Cl:j, on April 1, 1964, or on any interest payment ' date thereafter prior to maturity, as a whole or in part, in inverse numerical' order, at a redemption price of par and accrued interest to date of redemption, plus a premium of five per cont (5%) of the par value thereof if redeemed on or before April 1, 196$; or a premium of four' per , cent . (4%) of the par value thereof if redeemed thereafter but on or be-' fore April 1, 1972; or a premium of throe per cent (3p) of the pax value' thereof if redeemed thereafter but on or before April 1, 1976; or a. premium of two per cent (2p) of the, par value thereof if redeemed.there- '. after but on or before April 1, 19$0; and without premium if redeemed 4`' F thereafter; provided that a notice of such redemption shall have been putt.. r lished at least once at least thirty days prior to the date of redemption t in a financial paper published in Now York City, New York. 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 Certificate, exist, have happened and have # been performed in regular and due form and time as required by the statutes and Constitution of the State of Florida applicable thoreto, and that the. issuance of this Certificate, and of the issue of Certificates of which this Certificate is one, does not violate any constitutional, statutory or charter limitation. This Certificate, and the coupons appertaining thereto, is, and has all the qualities and incidents of, a negotiable instrument under the law merchant and the Negotiable Instruments Law of the State of Florida, anal the original holder and each successive holder of this Cer- tificate, or of the coupons appertaining thereto, shall be conclusively, deemed by his acceptance thereof to have agreed that this Certificate and the coupons' eppertaining thereto sha? 1 ,be and have all the qualities ,and' incidents of negotiable instruments under the law merchant and the Negotiable Instruments .Law of the State of Florida. The original holder and each successive holder of this Certificate, and of the coupons appertaining hereto, shall be conblusively,deemed to have agreed and con- sented to the following terms arid,.conditional (a) Title to this Certificate, unless registered as herein provided, and to the annexed interest coupons, may be transferred by delivery in the manner provided for negotiable inst4uaents payable to '.r -12- . yt .bearer in the law merchant and the Negotiable Instruments Law of the State of Florida; , t '. E 7 III :` ••r^?3' ?t 't. .r i'sj ?? .. .•?f^,i' :a`Y is '?l': ?4.r . .; gn, i'. • iF`??7?'? i'SSI,r 3L'?'?:r«'?1 ;4.?'e• 1iv?Y.: s.1:s a ' (b )' .' Any portion in possession of this Certificate, • unless regidtork ab heroin provided, or of the interest coupons hereunto appertaining, regardless of the manner in which he shall have acquirod postiossion, is horohy authorisod to represent himself as the absolute owner hereof, and is hereby granted power to transfer absolute title haroto by delivery hereof to a bona fide purchaser, that is, to any one who shall purchase the same for value (present or antecedent) without notice of prdior defenses or equities or.claims of ownership enforc©able. y against his, transferrer; every prior taker or owner of this Certifibaro' unless registered as herein provided, and of the annexed interest coupe s, _...,..waivos and renounces all of his equities and rights herein in favor of every such bona fide purchaser, and every such bona fide purchaser shall acquire absolute title hereto and to all rights r0p'rosantgd hereby; and (c) the City of CleanTator may treat the bearer of this Cer- tificate, .un?e?ss registered as herein provided, or of the interest coupons hereunto appertaining,as the absolute owner hereof for all'pur- poses without being affected by any notice to the contrary. This Certificate may be registered as to principal only in accordance with the provisions endorsed hereon. 114 WITNESS WHEREOF said City of Cleanrater, Florida, has is- ? sued this Certificate and has caused the same to be signed by. its City Auditor. and Clerk and its City Manager,, countersigned b its Ma or- Commissioner and its corporate seal to be affixed hereto and has caused the interest coupons hereto attached to be executed with the fac simile Si natures of all of said officers, all as of the first day of April, 1994- (SEAL) No. CITY Off' CLEARWATER., FLORIDA r i ! .:... My Au or' and- Clerk y Manager Countersignedi ayer- o ea oner f (FOH4 OF COUPON) On the day of , 19 , (unless the Corti- ficate to which this coupon is attached shall have been duly called for. redemption and provision for the payment of the redemption price duly made); the City of Clearwater, Florida, will pay to the bearer at the 4 principal office• of. The' Chase National Bank of the City of New York, New York 'City, New York,, from the.. revenues rand special funds described in the Certificates 'to' which this coupon is attached, the sum of Dollars in lawful money of the United States of 'America upon presentation and surrender of this coupon, being six Months interost then due on its Recreation Rovenue Certificatt;? dated .April is 1954, No. r `*-?? t CITY OF CLEARWA'THR, PLO RIDA I B t F `may 'ATor an or -13- .7. C47i?{ ! C•.r:;i, s p^?...`:;:a. .' y'F 7 rti?rz•.,77 ?.7,n'}e""'""'.""".."..""_. "' .. ?.•.-:ttK?..??.+«?w..••......xw?.?ruw:sYf k'.s.,i'+5+i:2?. {v:..s ?,,., :i: ' it ?' .} `,«'<;. {: w,?, It4.i •.? aim -Mingo i ry a :. ' ;4M' %?l ?r Yii ;I F •4?'i..? ?? ??' k`?,'.'£?; t??i??j rT?ii.'2a?,"''y?':?f?` ''•'1?1=1?{r,••5${?'vv???""""j".4^???, T r LJ My anage r Countersigned: '. 4 r r ayor7 omn salone r P . (FOR,I OF VALIDATION CERTIFICATE) Validated and confirmed by decree of the Circuit Court 'o'f the Sixth Judicial Circuit of Florida, in and for Pinellas County ; rendered on the day of ?, 195 € 4 er a e rcu our B37 Pinellas County, Florida (PROVISION FOR HEGISTRATION) . F. 11`q Y? This Certificate may be registered as to principal only in ?'•: '=,'s. <<'= ;: `'t':;` '" ' the name of'the holder on the books to be kept by the City "rraasurir as Registrar, or such other Registrar as may hereafter be duly appointed, such registration being noted hereon by such registrar in the registration blank below, after ,which no transfer shall be valid unless made on se-id books by the registered holder'or attorney duly authorized and similarly noted in the registration blank below, but ?. it may be discharged from registration by being transferred to bearer, after which it shall be transferable by delivery, but it may be again registered as before. The registration of this Certificate as to prince eipal shall not restrain the negotiability of the coupons by delivery merely. DATE OF REGISTRATION IN A-MOSE NAME REGISTERED SIGNATURE DF REGISTRAR r?.,.,..p4.r-.fMrs saw yy..vrt.*T!!?w A AD -777 , r• .Sr .. . •', t , i x 14- -4 %t : - J : ,' : ? ' : ' ' •-^ - . - .-s:•.. ?.»?, M ...- .,:. - " t ^. _ ?. ` • ** : , _. f • r .t? . '7? ???, ii 7+? , .w ,.. ?'°? : -,...r ? - : g - ; Y: , s tl, 3.. ` T 1:3 J r s .{?e_ 'f ,}i V]+,j ?t`4. l,M11•I?•1'S:T ?'?.!(S Ii•fi,?r'.{k?:?: •,'. '.1 =?V''=t?a,?r?•L,4.:?µ-11..E=:3 6F .??;, _?''r: :y;y<° ,?. ARTICLE III COVENANTS, REVENUES JWD APPLICATION THEREOF. 10. CERTIFICATES NOT TO BE INDEBTEDNESS OF THE CITY. Neither the Certificates nor coupons shall be or constitute an in- debtednoss of the City, but shall be payable solely from the Revenues of the Stadium Recreational. Facilities, Franchise Taxes and other special funds, as'herein provided. No holder or holders of any Certificates issued hereunder, or of any coupons appertaining thereto, shall ever have the right to compel the exercise of the ad valorem taxing power of the City, or taxation in any form of any real property therein, to pay said Certificates or the interest thereon, or to be entitled to payment of such principal and interest from any other funds of the City except the net Revenues of said Stadium Recreational Facilities, Franchise Taxes and other special funds, as provided herein. 11. CERTIFICATES SECURED BY PLEDGE OF REVENUES AND SPECIAL FUNDS. (A) The payment of the debt service of all of the Certificates issued hereunder shall be secured forthwith equally and /ratably by a lien on the net Revenues derived from said Stadium Recreational Facilities. The net Revenues derived from said Stadium Recreational Facilities in an amount sufficient to pay the principal of and interest on the Certificates herein authorized, and to make the payments into the reserve and sinking funds and a1.3_ other pa ents provided for Jr, f • F '? ..f this Ordinance, are hereby irrevoc,s.bly 'pledged to the payment of the principal of 4nd Interest on the Certificates herein authorized as t'.. ?•, the same become due. t (B) The payment of the debt service on all the Certificates `'. S.. 'k ;• issued hereunder shall. also be further secured forthwith equally and ratably by a pledge of and lien on the proceeds received by the City from the Franchise Taxes, and the City does hereby irrevocably pledge ?. such proceeds of such Franchise Taxes to the payment of the principal ...',-.: • ,?r.,.'.... I,' . I ' of and interest on the Certificates issued pursuant to this Ordinance , and to the creation and maintenance of the reserves therefor provided in this Ordinance. ?yiy?M( ?(,f'}'1 "'T: Xfr.,; .A ^•,s ;.?,._ :, „ _•2. ..I:*,,a •>`.SA:<` .q ., c• i'?j ,3}. `{ ry''?M X? ?i'•%6t ? '..{?' MiH a.. sR]^ - .> .i'... a`.'h. h.i S-..F. :+5 .. [, ?nfi ,M ?wr,?t:l, ?1 1''. - :1t'C+r.t.";',?,r Fy ti]`. c.k;J.sH+i.'F.s...: ti, :. .•i:,,.,:.}..Y!_s;i,:"-+-?ZYi:i.;??i2,9?k?,yyA+XSi+?:ri'Y•?rtx.,i.s. n. •i'•. . 1 u: .j-_ The City Trcas6rer of' the 033.t:y of Clearwater, Florida, and his . succe6sorr, in office in' hei ehy constituted the- trtrr,tee for the purposes of, this ordinance. All, of the proceedn or such Franchise Taxes, received by the . City, after the date ' of the Ccrt.i.f3.cates to be issued hereunder, . to- , . 1954; shrill be deposited in a trust account by the City t wit, April 1,.1954' and shal-? be di-obur,ed therefrom in the manner provided herein. As . moneys representing thn.prnr.eeds of said Franchise Taxes are deposited in said trust accritznt by the City and .when moneys therein are 'available " the City shall pay over to the t,z"t.-istee. of and into the Sinking;' Fund hereafter created, an amount 'iari.cr; together with the l`!et 11evemi'e's, ; F •`availabJ therefor and theret-ofare c?epasited in raid Sig-Lking. F'unti, will, be'..not less''thari `thr? at;,reat e' arnorant? of p i.nc f r1c i te ?; z' i,oal a a i i t rc'a.? on,.. the C6rti.f`'icat6U, 'clue, ai7d pr?yabl'e Oc#;ober 1, 155,ri:i April 7.; l?'S5, III adI t;ional amount r;qual. to ter. per cent (10;) of -the aforesaid ;• principal i an3 n erent 'p yment s to meet the requirements of the Reserve ' Acpoui prnvi ded far "in Section 13 W) ( 2) hereof. ?'t ft;er? makirr : the ? 3 payments therefrom hereiin ?above provided, .rs+nr?eyn d.ipoa,Itr d in aid' ,trt?s? account. in which said, F'.r (. , g .?a.i atrah; sc 'f'ay,es :are. deposited before July l., 145 and the Procceds ref such 1''S'inc' lice TC•z?:c^s col.icct:i.d prior tia July ,1 10/55 ,,5J, may be withdravY'ra and, appropriated by the City for any ].acvi'eal. Fstripo.>e. From and after July 1, 1955, as moneys representing the proceeds of said i ?i, 1 F'raT1C?11 se. Taxes are deposited In said trunt account; by the City and when moneys therein are available the City shall pay over. to the trustee of i; .. .' '- ;,•}: arid into' the Sinking Fund hereafter created,. in amount which, together { with the Revenues available therefor and theretofore drpodited in said Sinking Fund, will be not less than the aggregate amount of principal ; of . i?rte?re ,t -on the rertific;ates c'rtiirh will. mature 'and become clue and f( ? ,payable on October l.st and April I ].:,L ncxt succeeding each such July ? " 11, lrrt; plug an a ddationll t?rro nt r.quaZ to tart prr cent, (10;i) of suc;h pad- ment , to meet. the requirements of the fte:3ex•ve Account provided for in Sectign 1.3..(x}) (2) hereof. Moncys so deposited in said Sinking Fund shall 'bye use' d 'for the purposes, and in th'e' manner hercinAft 'r , •.. L .., ems.... ,. O'O'\.'i' e~• ?a \''t ,?:?' mil - y ;•... <§ >•?t r 1 ,t:esH3•lr.*i"ii! 6,V 'Je s x'',Odl ' • .'1?,; i "•.el `, i.. t:'•' . C'' F? ? qty h :3,r:?.``yy ?'.-.?',;?s -?.4'd•r: ,. - - ti .. ?'?r•.!^ :,;3. <',:•=, :.•:.• . *•,'"k?'?far?r'Y`'ES`' k? .7?;;?.? !. ',F;C,?-i5' ° ' - - •`?i'1`•` ;fa;',:.',. .: i { fir; ;?) t }} t k; f??F?i`??'€i"::?aR`-(; •.fr 5?`-Y ?.?? 1F- .[ S T+, E?•• 1" +?j{F??,2 ti:'ili? 3'tz. ?r-?_h?3?'?! k •`. a .. : , .r'?t ?,?r,=°-tiySa'?,R,t;, . e.. p.y( .. E 5 4 ?g?.(e.T,'f'T` ??..jf Q?'• ? J '?,...r ''? - - .r}?J ?''''?..?:?. 3.4 F ,e}C,? }?y i}t»$"??' _ J"?f :+ ?I?l ..4 \ / lw f?'i3Jx?:?'. it /•1ir t, ?T^?Y sklj?}t.?.,?R.1?tiY... ••`' .-. ' .. ..t-•, ?iII??". = f . r ,? :' ;.+..:c,.:.- z v1 - 3 s.•'.•S ?yr?..i, :{'f %.'?'•? y ?i ..'t• 1,.' Rf .•<.r^f5?',sGi.,n'a+SA tEi°"3r. wa?'r.. T....--..ti,......-. rlj •°;°.'e'. tiatir? r p kY !u r P ?. `' ?S ? iz ?, ? ' .1 r`, k `i;; y "a-yy,•?.1 ..d *?' a ?ry'3, F+"•e4 " %re't:_ 91 ?^'U .?,* r,1: 5, ?. i;, ¢ ?.• q"?,il?f'ykr?4.?Ce-"j"i`3 FY'[Y?T E?S?j??.? -".:Ce,. a ?'.?'.. '_.?: al: ?`'- 't t1 s Whenever in any twelve connecutive month period bet, rand ending Juan 3001, the City shall, h, deposited in the Singing f Fund hereinafter crc??ted and in the Fteserva Account therein the z aggregate annual sign , required to be deposited therein as hereinabove y' provided, mdneys on depm it in or deposited in said trust account in ., r • which said Franchise 't'axes are deposited before the next succeeding July lst•,. and the, proceeds of such Franchise Taxes collected pr for to ' the next succeeding July lst, riay be withdrawn and appropriated by the City for any lawful purpose. :i The City does, further. covenant; and agree that as long as any, s : of'•the.Certificates are outstanding and, unpaid, as to' either principal `: °'• ` '' S'': or i.riterest, accrued or to accrue.' or unless payment ' thereof han been duly provided for, it' will not repeal'the ordinance enacted October `1.0: " 1g?6, grantLing, the franchise to the Florida 'Power Corporation- and levying, oaid 'Franchise Taxes, and will not amend or modify said ordi-- i -nance in' any manner so as to reduce the rate or amount-of Franchise i:,?::.,: ;,•:: ;'- .;;;:..; Taxes levied thereunder or impair or adversely affect the' obli atiori . of the Florida Power Corporation, or of its legal representatives, ''.' _?r: :s:• . successors or.assigris, to pay, or .the power or obligation of the, City r= to levy and collect, said Franchise 'T'axes, or impair or adversely i,. affect in any.manner the pledge of. such Franchise Taxes made'-herein, , or..t.he rights of holders of Certificates issued hereunder. ss ?.. The City further expressly represents that it has legal and ? , ...ti :•°'; valid power to levy and continue to levy and collect said ' Franchise Taxes in the manner provided in said ordinance enacted October 10, 1946, r •;.f .,, ;,:. A notwithstanding that the legislative authority contained 'in the Act may be repealed, amended or modified by the Legi; lature of T`lorida prior to such time; and said City further represents. that the; covenant t entered into between the City and. holders of the Certificates pursuant to this Section 11 b constitutes a valid and legally binding contract ?- '` between the City' and such Certificate-holders .are not subject to re o I. (4, ?[ impairment or modification by. the City or the Legislature of the State ,.:: ;.- of-Florida. ;''{''.; The City hereby. covenants with the holders of the Certi.fi- •?' s. Y d F.yp' Z rat. AY r3.•.45?' ?. a r ,+.N, e' 6 cotes that In the event it shall" ao uire the electric owes and >Sr ` s {^' ?T . C' .1: ` 'z'f ;•::.' .iC: f ' r i..' ,a " I .., T+P?•M+. -'- nY--r.^,,v+,.c3wr.«eyw,.nrw.rraw..`.^'?"..',.?t'.4 .iWeNS'Ms#LS, ?.J,In''sy`etr"+°"r"'??;-: r- rr•-.-„?•n......,_.•--.-•» .rr^^•-.t?.•'r '• `r.a,'.,'9.1';.i :y'j?4:7 ?•r?v35a `3 ,} <1??e:t.• es' °:.l':, .fy'.•.: ?- chi -1=,y.. :)? . i.• f, 5•'F- ,:i., f' ? . W wet v`J? .ilf• y, Iq=.. .-.... -. ..... a .....1r+ ,. r .. .., .. .. ... .. - .. . 3,L #. distribution facilities of tt?e Florida }'owes Corporation within the City, pursuant to the provisions of the ordinan&c .entacted Qctober •10, 1946 , or otherwise, or in the event it :hall acgltirr,, conntruct, or operate an electric nower and distribution aystem within the City in place of the electric power and distraibution system of the Florida ' Power Corporation, and'thE Franchise Taxes are not available to the City to make the payments therefrom required pursuant to the provisions of this ordinance, the City will make payment, from the net •rryvetlues first 'available to it from the open ation 'of any such electric' power ` and distribution system so owned, acquired, constructed or operated. by'•it of the amounts required to be paid from the i;ranchise Taxes'pur- i-: suant to the provisions of this ordinance. 12. APPLICATION} OF CERTIFICATE PROCEEDS. All moneys re- ceived from.the . sale of an y . or all of the 00 000 Certificates ot•i- ;f,' • s?.F(' : ". ginally authorised .and issu' pursuant to this, 'ordinance' shall' be, 1 ' deposited by'the City in a special account, and shall only be used for, and applied by the City solely to, the payment of the. cost,.af ?.' the construction, improvement and equipment of said Stadium Recrea-;',,'. y- f : tional Facilities, the establishing of a Reserve Account, .in the. amount of 635,000 which is hereby created; and other pu'rposes -pro- ;j, '•"_; '' I vided in this Ordinance, and for other municipal purposes. If ,_for any reason any port-Lon of such proceeds of sale of the Certificates ,.' are not necessary for, or are not to.be applied to, the aforesaid pur- . poses, th'p such.unapplied proceeds shall be deposited by the City in the : Reserve Account herei-nabove created, in the Sinking Fund to be estab- lishedpursuant to sub-section D of Section 13 of this Ordinance and' shall be used only -for the purpose af• the payment of maturing principal , of or interest on the Certi.f'icaten when the other moneys in the 'Sinking, Fund: are insufficient therefor, and for no other purpose. All S1,ch : proceeds shall be and constitute a trust fund for such purposes and there is hereby created a lien upon such money, until''so applied, in .; favor of the holders of the Certificates. 1ilor_eys deposited in the s;?, `?'rr°,??.?i`.?;i??.•`'.:fie!/.:'?:;,:.- - ?'''?,?r ''1?' f• ;;?': i..r 'iF?.:f.'•?rf. Y.y?:=ti `aii • _?. "i '.r Fyn ; ':?'x`?''t;` 4r°a "w'; ",>' < •,aC .. -1$- •'?'''-'"af. . }}..??' °11?4°. ?1 ,a, • a.,,,:. , '""r"y""'^,.'.'Y:'?".;'.'."''"'"r'!?'?t'ri'?.a4'Yfiwr.AY ?X('1`i'F?"''*?,y,.t4'?:+'FC=';.??u,Y?`,'rn.w.«+.!+rxM!r`1'4U+a?!','w?•"," •'r....,..,...»y..•w';?.,...;n-.?,rwrsr?.w.'.?t`FN+?;° ?;iY t ??'p? ra:L?.' ? 'G. Shy, ,:y ;?` •'.'a. ;.:€.4:' ` gi-,., f.? s„i : .k , !!'cfTie'"^..V:. r .. .. a ° :.i.. J2M,, rti°?? a. `T,'}`'%+.', .,'i r 5p(? al. account, ptirsuar?t to his arction 12, perjclin[; 01 it use i.n'thu manner in this Ord3n-trice provided, may I)e t;e;,zporari.ly l,nv(2otcd In direct obligations of the United States of America irssatrsr.tlg not later 4han give (5) years frori Lhe date of purelinse 'or any other obligations of the United States of America regardless of maturity or interest which obligations are fully f;uaranteed or must; otherwise be maintained ' in cash or savings account.. 13. COt'IsNA1, i'S OF THE CITY. So ling as any of the Certificates shall be outstanding and unpaid, or until there shall have been ri ot' apart in the Sinking Pun.: = vein eotablished a sum sufficient to pay, when due, the entire principal of the Certificates remaining unpaid, I i together with interest accrued and to accrue thereon., the City F covenant's with tlie,holders of-any and all of the Certificates, issued pursuant: to this Or linance as follows: A. RATES. That the City will fix, establish and maintain.'- such rates and collect; such .fees, rentals or other charges, for 'the 'r services and facilities of sa±rl Stadium iZecreatianal Facilities (sub- __tale terries of any valid leases or licenses then in force), and ,sect to .. •..... -- revise same from time to time whenever necessary, as will always provide Revenues, together with the proceeds of the Franchise faxes, sufficient to pay, in the manner specified in Section 13 of this Ordinance, and out _. 3 of said Revenues shall pay, as the same shall become due, the principal . of and interest on the Certificates, in addition to paying, as the same shall become due, the necessary expenses of operating and maintaining ' such. Stadium Recreational Facilities, all reserver or sinking funds or other payments provided for in this Ordinance, acid all other obligations or indebtedness payable out of the Revenues of such Stadium ?recreational Facilities, and that such rates, fees, rentals and other charges shall ,.: sat be reduced so as t•o'be insufficient to provide Revenues for such purposes 16r, .ir?,r??',.4rr r re i; r. F?r .i? • f r• B, REVENUE FUND. That' the entire gross Revenues derived from -the operation of said Stadium Recreational Facilities shall be deposited in a special fund in a bank or trust company which is a member of the Federal Reserve System, which fund is hereby designated-as the "Stadium ?.1 k 1 Y J.'.•'•h'4 OFF"ati., . _ r ?.': •! • r•Wor•wYY w•ytart•yyu - •rx^...?•+1,x} rwrr+.w•n.r.a,ww+.+•....,s..•r-•7^.5,.,.x.•..... i...-? ;Z") •..a... I '? ..y ? i. '?9-y'?^:`n ?f! ?YSN!wtirr Y.. ..,ryq .: i • ?:'.,,,,:. J 41{. ,'6-` kz^=j rr• -??? ' i.. ..y. ?4;. 'f• - 't , 'i'. ..i'. x,r ,i .. ?-- ,rr?` ,; f1 1, ' ° .'i?'• :.;:, .. ? r' ,fit" Recreational Facilities Revenue Fund" (herein called 1111eventse' Fund") .' J Said Revenue Fund shall constitute a trust fund for the purposes pro- vided in ,this Ordinance and shall be kept separate and distinct: from all ' W ' ? 777 , 1 . ? F F G t ,05, a l• ?4 .v othor funds of the City .and used only for the purposes and in the manner'', provided in sub-section D of this Section 13. C. OPERATION AND MAINTEMANCE. That it will maintain in good condition said Stadium Recreational Facilities and-will operate the same either directly or through-lessees or licensees in an efficient and economical manner, making such expenditure for-equipment and'-for renewal, I;,, repair' and 'replacements as may be necessary for the economical 'operati,on. ? and maintenance.thereof from the Revenue Fund, i). PISPOSTTIOT'. of REVENUES. That all Revenues' at .shy time remaining on deposit in the Revenue Fund shall be'-disposed of 'in-'the following manner-and order of priority: , ."; . o: ;.:s •-; ' .:: . ' `: (]_) 'Revenues shall first be used for the payment of all current Operating Expenses of the Stadium Recreational Facilities as herein defined, to the extent; that the same are not paid by lessees or 'licensees. .j~ (2) Thereafter from the ;Honeys remaining in "the Revenue Fund;. the City shall • not later than the first day of each calendar month in f each year apportion and set apart out of the said Revenue Fund and de- , °' ; _ '.:• '?: posit in,a fund to be known as the "Recreation. Revenue Certificate Sinking Fund's (herein called "Sinking Fund".), which is hereby created and estab- lished, an amount,' which; together with the amounts of the proceeds of` the Franchise: `faxes available therefor and deposited in said Sinking Fund, will be not less than one-twelfth of the aggregate amount of princi- , pal-of and interest on the 'Certificates which will mature and become due .and payable on and prior to the next maturity date of such Certificates,: provided, however, that whenever in any twelve consecutive month period beginning July 1st and ending June 30th the City shall have depi)sited in . said'Sinking Fund the ag'greg;nt,e annual slim required to be deposited therein as above pro=rided, no. further payments need be made into said ^inking Fund from said Recreation Revenue Fund until the 'f'ollowing' July 1st. The City shall also from the Recreation Revenue Fund deposit s in' the Reserve Account in said Sinking; Fund not later than the first: ? ,S.`? • •r'' f J?W I, "L/ !? Ff ?"•??_ 41t3.S?PY " +.-+.?`..-r+-....?wr..`.?.. .°In^ .i-!r4'Y?.?n?t0'?M,.?."'-"•'- 'fir.. .?w Y.'r,....5? rr.?•rnf?r,M+,.,. Titer '??*•• ?` ~?' }• i 3 " i i r s 5 i ' ?, _,??<'E?'.`?, ` i. °.. •?i ? i., ??: ..^ it ?? >; '? 1?'i T? r?i• :1?;£ "sly •.I day of each calendar month in each year an amount which, together with the amounts of the proceeds of the Franchise Taxes available therefor, and deposited in said"Reserve Account, will be not less than-an amount equal to ten per cent (10%) of all amounts required to be paid for maturing principal and interest into the Sinking Fund, as provided in tho above paragraph, on said dates provided however, that whenever in any twelve consecutive month period beginning July lst and ending June 30th, the City shall have deposited in said Reserve Account the aggregate annual sum required to be deposited therein, as above pro- vided, no further payments need be made into said Reserve Account from ,said Recreation Revenue Fund until the following July let, and, pro- vided further, that no further payments shall be required to be made into said Reserve Account when there shall have been deposited therein, and as long as there shall remain on deposit therein, the sum of Twenty Five Thousand Dollars ($25,000), Moneys in the Reserve Account shall be used only for the purpose of the payment of maturing; principal of or interest on the Certificates when the other moneys in the Sinking Fund are insuffioient therefor, and for no other purpose, In the event any withdrawals are made from said Reserve Account, such withdrawals shall be restored to said Reserve Account from the first available Revenues, or the proceeds of the Franchise Taxes which are available, after all payments have been made for maturing principal of and interest on the Certificates, The City shall not be required to make any further payments into said Sinking Fund or into the Reserve Account in said Sinking Fund when the aggregate amount of funds In both said Sinking Fund and said Reserve Account are at least equal to the aggregate principal amount of Certificates issued pursuant to this Ordinance then out- standing, plus the amount of interest then due•or thereafter to be- come due on said Certificates then outstanding. (3) Thereafter the moneys remaining in the Recreation ? 21» ec]GWUt!'-"S?*.?' h?.•!^"'".•-'a°^^ ;?;;'. -J :- ^w.r?:?w?? +w t+.. _ _ . 'r '° ': ";:•'T'^z-.^^r.?F r+ rn,. `»,.. _ """.-.,?«... 1 Y k_ 1. e. -? .Y1 ...'I #r^.a??".wee§=a:?#:?'i 'e.?S?`?'.., '.,:[??. ?•,:.?i Revenue Fund shall be used to establish and set up a Renewal and Re- placement Fund and the City shall pay annually into said fund from the Recreation Revenue Fund on the first day of July of each year beginning with July, 1955, an amount which shall be equal to five per eentum of the gross revenues actually received and collected for the services and facilities of said Stadium Recreational Facilities during the preceding twelve consecutive month period. The funds in such Renewal and Replacement Fund shall be used only for the purpose of paying the cost of extensions, improvements or additions to or the replacement of capital assets of said Stadium Recreational Facilities, or any part thereof. (4) If on any payment date the Revenues together with other available funds, are insufficient to place the required amount in any of the funds as hereinbefore provided, the deficiency shall be made up in the subsequent payments in addition to the payments which would otherwise be required to be made into the Funds on the subsequent payment dates. (5) Thereafter, the balance of any Revenues remaining after all other required payments into the funds provided above have been made, may be used by the City in any manner required or permitted by law. (6) The Recreation Revenue Fund, Sinking Fund and Reserve Account therein, and the P enewal and Replacement Fund, and all other special funds set up and created by this Ordinance shall constitute trust funds for the purpose provided herein for such funds, and shall be deposited and maintained in a National Bank or Trust Company in the City of Clearwater, Florida. All of such funds shall be continuously secured in the same manner,as State and Municipal deposits of funds are J required to be secured by the laws of the State of Florida; provided, ( 1 however, that the obligations securing such funds shall be at all times at least equal in market value to the amount of money in said funds. The moneys in the Reserve Account in the Sinking Fund and In the Renewal and Replacement Fund may be invested by the City in 22 . a 4, ,: n ??i ?? S'.?'iv?,"? IY.^"r"?Te+e?-. .' •r -}?. `r; ,' , ,/? ?V ...•ef1! .. 'i ?f.. ij..i?alr,r.i',, ?,? .uN,...www.. .. !!Y...;....+w••+wM41,Mvnw,t Yny„ws,? i? : `i Pon-MOIR direct obligations of the f}n:3_tcd States, of America or muat otherwise .,be maintained in cash cur savings necount-,s..' L. SALE 0A' STADIUM RECREATIONAL FACIT.ITIES. That paid Stadium Rccreati oval Facilities, or any part tl:cren£, may he sold, mortgaged or otherwise disposed"of only if the not proceeds to be realized shall be sufficient fully to•retire all. of the Certificates issued pursuant to this Ordinance and all interest thereon to their respective dates of maturity or earlier redemption date. The proceeds from "such sale, mortgage, or other di:;pooitlon of said Stadium Re- creational Facilities shall. immediately be deposited in the Sinking -Fund and shall be used only for the purpose of.paying the' principal of .and interest on tl-ic Ccrt" ificates issued pursuant to this Ordinance as the sni,.iG shall become due, or the redemption of 'cal.lable 'Certifi- :? cafe , at a price not greater than the redemption price thereof. After{` :f i . . all of such principal. and interest ;hall have ` been duly paid an(]. r.0 ... ;.,?',.' .•,, tired any balance remaining in said fund shall be remitted to the. # i'. 'A' City. = The leasing or licensing of said Stadium Recreational F , Facilities, or of parts thereof., shall not be deemed to' be a sale. i` i or disposition of such Stadium Recreational l±acil sties as long as the City receives.reasonable and fair rentals or income under Such ; leases and licenses and the same are payable into the Revenue fund. F.. ISSUANCE OF OTHER 013LICATIONS PAYA13LE OUT OF REVENUES AND FRANCHISE TAXES. That the City will not issue any other obligations except upon the conditions and in the manner provided in this ordinance, T payable from the Revenues derived from the Stadium Recreational Facilities r' or said Franchise Taxes, nor voluntarily create or cause to be created an debt liens assignment, encumbrance or any other charge Y , , pledge, py g, having priority to or being; on a parity with the lien of the Certifi- cates issued pursuant to this 'Ordinance and the interest thereon, upon any of the Revenues of said Stadium Recreational'F'acilities nr:. ; '. Franchise Taxes pledged as security, therefor in this Ordinance. Any other obligations issued by the City, in addition to the Certificates r " authorized by this Ordinance and pari passu additional Cart:ificates :•'`? ~i, ;zf. `R` ,k r; .? : „ authorized by this Or'dinance', shall. cc gain- an express statement that :.i~''' i?j"?F ?? )r'`.'`.";f5t'?.'?"y `T"y:'e,?Y•"'7,i . .. '•'.i?. ?'"` 23- s'•;?y} ??; '3i?'+'''??t??r fj4Yt? ?'?{s; ??l .. .y• /'? ? if r • - ?`? C- } fl--v"?+.? .^.^,°?'!'tiV; f„' ili +ti =',•°t'F'? iy}+':ri=r::.R?, _. .,? 75?/.F.t - J r ?•?.'':i.':t ;'3t:-'? 'w _ '•? ' •x '>: i.' ' `tip' :, ,, .f , ; 1? y i .? ,?`'!, """.^.•+'•+'.'.,Mrr-r»?+«•,+?..rEw-t•,±??w.u.n,ro-vow...-.,.r,.f,,.,••.,?.. 1 ..r.s.«nen.-•«.-+K+r m.'eew•,g` '•i':t',,;+. = f',•'?`. y '??'. ?.;r ,?f??. _?`;, -,r F.,• 77 ?=t' r r{ t`?';,{'`?t,,??i, .fi.,; i%' - ;.a",? _'AS• .:1?w,F't.,. •a=r. [e _,€•.'; t .. •5? .'j 4. •'?4 - -y ?`:?:- j4Sn•r? i i ', 3?????i?rf??jSy•?:?I?ty+1?.(rJJ F??,?':rt??:?r£Y ?.'.r'?i '? _?, i' ^ir-n u; C:= 1SA'Y: i•, nf'r'^l'N:::?'=... . °•i? ^ such obligations are junior and subordinate in all respects to the Certificates issued pursuant to this Ordinance an to lien and source and security for payment from the Hevonuos of said Stadium Hecrea- tional Facilities and Franchise Taxes, G'. INSURANCE. That the City will carry, or cause to he carried for Its benefit, such insurance, and in such arounts, as is ordinarily carried by private corporations owning and operating simi- lar improvements and facilities with reputable insurance carriers against loss or damage to the Stadium Recreational Facilities, and said property loss or damage insurance shall at all times be in an amount or amounts equal to the fair appraisal value of the buildings, properties, facilities, improvements, furniture, fixtures and equip- }...,:` •' . went of said Stadium-Recreational Facilities. In time of•war, the City shall also carry in said amount such insurance as may be available E; against loss or damage by the risks and hazards of wars f. ; 11. BOOKS, RECORDS AND INSPECTION. That the City will keep i. books and records of said Stadium Recreational Facilities which shall f• :'.;?:`. be separate and apart from all other books, records and accounts of -' ' the City, in which complete and correct entries shall be made in accordance with standard principles of accounting of all transactions ` ?.;. relating to said Stadium Recreational Facilities, and any holder of a Certificate or Certificates issued pursuant to this Ordinanoo shall i have the right at all reasonable times to inspect said Stadium Recrea- tional Facilities, and all parts thereof, and all records, accounts , and data of the•City relating thereto. The City shall, an July lst of each year,' cause the books, records and accounts of said Stadium Recreational Facilities to be l properly audited by an independent certified public accountant of .1` . recognized standing and shall, upon request, make available within 90 days after the end of each such year, the report of said aocountant at all reasonable times to any holder or holders of Certificates issued pursuant to this Ordinance. Promptly after the receipt of such .audit report a copy thereof shall be mailed 'by the City to any Certificate 31. ' , ..:? ? ._ . ` 24- '•t t. '*'F,7 stir ':•l', r'Fj ''f {• . . "4, cYVic ?p,???.+.-., ; :,y.-,. ..,v.w?,?a>rw..?...?..., _...» r..?_ _,-i-«...,,,•..tc...,-..y....,.....,W..W.,.......,. feY-,`..rnw•?.-.?. .. .l. ':F% s: _i.?:,,4 I:•1' ? it, '?"_ r'11` 'i r ' "-: ''''•' ` ° i -,l' >?r.,C, el. : ?..; _' , 'j`•.: `. ?_ r •,! :' -f .. •?t . holder who shall have filed his address with the City and requested in writing that copies of such reports be furnishers him. 1. CONSTRUCTIGN AND MAINTEXANCE OF STADIUM RECREATICNAL FACILITIES. That the City will complete the constructions improvement and equipment of the Stadium Recreational Facilities provided for in this Ordinance with all practicable dispatch, and will maintain4aid facilities in good condition and continuously operate the same in an } { efficient manner and at a reasonable cost. k J. SERVICES RENDERED TO TFIE CITY. That the City will not _ render or cause to be rendered any free services or facilities of, =7 nature by said Stadium Recreational Facilities, nor allow any use or s•! _-:` . ,firs .5r "fit. occupation thereof without reasonable charge therefore, noj? will any preferential rates be established for users of the carne clasp; and ` in-the event the City, or any department, agency, instrumentality, officer or employee thereof, shall avail itself or themselves of and use such Stadium Recreational Facilities, or any part thereof, or . .': t. occupy said Stadium Recreational Facilities, or any part thereof, the same rates, rentals, fees or charges applicable to other parties using like facilities under similar circumstances shall be charged the City and any such department, agency, instrumentality, officer or 3 employee and all such rates, rentals, fees or charges shall be reason- able. The City shall require any lessee or licensee to observe and 2 enforce the provisions of this subsection J. Such charges shall be paid as they accrue, and the City shall transfer from its general funds :•'.'..,. Y;r,`,',. :1 sufficient sums to pay such charges. The income ac received shall be I'. deemed to be Revenues derived from the operation of the Stadium Re- creational Facilities, and shall be deposited and accounted for in the same manner as other Revenues derived from the operation of the Stadium Recreational Facilities. X. OPERATING BUDGET. That the City shall annually, at the ? same time and in the same manner that it prepares its annual municipal budget,, prepare and adopt by resolution of its governing"body a `: •" "',r' •.. -,.- ?Y';, ti's. .?"•"1 ? (''( •• ??, 3 : L+ ra .rj r i. ?". ='z??r4 ,??. 'y 4.°4" .:f,..:k?.L S.>;'r: : t•' ?' ' 'fps` ..! t?'•. . ??k?i 4''`??1-i`5. 4?'4,.r.,;?t4e'l :.;?{.",, ..?5? -. °i b' ii .. =1• ?w.t#=.i-?'?•ra?:'':? Lr??a?r???„a?? ;'j.''?=.?y ?s'''??'? .. ?,•'?.n:t,• 'Y,' 'l."'•' i .2 Kar::?..}1+.Frdti;... rz j ' , t5: r'^.'..•?" c,,.'p: Fr: '•,r ''s"." s ?• ley R??" +4- Y :r i. ? .. -s: f ? ??;':?'" ?.i . e-:t a .,:•." e?. .'?:•; : ' ?.?-' ' 4.; ?+1 7? , (k??e' a?Fj?• ? 4 t' ' ._"ste Or'e! .• ..,Y- _'s? ? ? 1' ,? :??• E?; o'?y'• - . a"k ,'??r ,?,,j . ,?, '?`Eas w?`?.? ?!"ii t^'_.i- -yr.,..-.TAUAne,ti.,,,,..,•'"?"^'l ...+as...M.,•!-+.•-,•t?-• .................... .,. . ;..,'-" ?' ..•5?,?1.L st.?5 k' 'j'y.l. 2c"' 'j., «jr^•+:: .'...? r.. F.• lr,k P1411 W )..Ty_.,' A. _ 'd tir[?}?• O 4M 1 detailed budget of the estimated expenditures for operation and main- tenanca of the Stadium Recreational Facilities during such succeeding fiscal year. No expenditures for the operation and maintenance of , such stadium Recreational Facilities shall be made in any fiscal year in excess of the amounts provided therefor in such budget without a written finding and recommendation by the general manager of such Stadium Reoreational Facilities or other duly authorized officer in ohnrge thereof, which finding and recommendation shall state in de- tail the purpose of and necessity for such increased expenditure for the operation and maintenance of such Stadium Recreational Facilities, E and no such increased expenditures shall be made until the governing i , body of said City shall have approved such finding and recommendation 4 by a resolution duly adopted. No increased expenditures in excess of. ten per centtm of the amounts provided for in such budget shall be made without the further certificate of an independent recognized i consulting engineer that such increased expenditures are necessary for ; r the continued operation and maintenance of said Stadium Recreational Facilities. "The City shall mail copies of such annual budget and all , resolutions authorizing increased expenditures for operation and main- ?. tenance to any holder or holders of Certificates who shall file his ?E , address with the City and request in writing that copies of all such ` budgets and resolutions be furnished him or them, and shall make available such budgets and all resolutions authorizing increased ex- penditures for operation and maintenance at all reasonable times to •,'t .t, any holder or holders of Certificates issued pursuant to this 3 •..,.. t.' Ordinance, or anyone acting for and in behalf of such Certificate holder or Certificate holders. ' i. L. ISSUANCE OF ADDITIONAL OBLIGATIONS. That no additional obligations, as in this subsection defined a payable pari ' pits 8u out of . the Revenue Fund or Franchise Taxes shall be created or issued after the issuance of any Certificates pursuant to this Ordinance, except }—°'',, , under the conditions and in the manner herein provided. is ;i??g:Y v,; ',t:., ,• 'E •?6°f. ?. 1'.sl ?'4:i 1p,Ei7.y -lbw f •} ,ry1r°,lr..sf" '•7, ?.: ?i?? q,:4?,":'r,;e:??r?.?f, ... _,.:;iki.;. 1 t ?r.. ? :.7:. k•?:".,? :,,r• ?; ;,t? ,` ... LL • ' Ord ?i °??-f?ti?:':. ':.;'g??'r ??I''r`?'x4''ti:.s'f^5-.`+'G• _ !`l' `"- - ' ?V ? .?',•' "ti .:: .•E}?S?•jv":.Y?;hc'_? , +;• .e ;ts'y 1i,. :,xtcl. ?. ;< ff....sh: `. 1•r3 ?2 '> .rte. .-.?...-..?^•.+?ww..e t .fr1 - `off s ?,.}`i a?.;,"c.•?' `::[i';, .,7; fir.', j.'.. l.-":i - a.trr.<-»'r....».,a...,.....•--._.._..-,r..k..-fi:s. T..?..... -rs r - - -•e'._.T, :'a: Ilef Y? ' 'My r c '! Ott a. r Ca: t Eve )) i' - - --- - - - --- - ---- No such additional pari passu obligation, shall be issued Ur cr(aGoc3 urilo s the F'tiet Revenues of such Stadium Rocroational .? `4ac. 1:Ll,iti.ef during nb1 f the ? preceding, t?ctcl.? k 1c. 1 consecutive €s€or,tt,:s top .F ether with "the Franchise `F'a7CC3: collected 'during t•ruLh preceding, 'tWolvc Cor€secut:ive month period, shall equal at least one and nne--half time'l ' j the highost aggre gate principal and int.orest requirements for any succeeding twelve consecutive month period on all. Certificates theretofore issued and stall outstanding; under this Ordinance including additional pari, pa ,su obligations therctofore. issued pursuant to this Ordinance and Still outstariding;, and 'on all such a<lda.ti_onal obligations to be issued cif :. •.'.:'::f„.e' "x::..'. rl '. k The term "additional parii_ passu obligations" asused 'in this sizb= ecti.on L shall be deemed to njc:an additional obligation- ev:ideraced ' ?• ,? t' :f by Certificates issued under the provisions and vti•thin the .:Landtati.ohs ?: ,', ,;,•,.,.?. :.'?.:,4:°. of this. Ordinance payable from the .F?ev(_'nuc Fund and ether special furids provided hezein pari u with Certificates originally auIA16r- pass u ( I•::r•.•?`, -' ' _ `•, .,4y C k izect and- issued pur.?u??nt to this Ordinance'. Such Certificates shZll `t r pursuant this Ordinance th same as b the j e deemed to have been issued to ;. ` the Certificates originally authorized and i„ued pursuant to this Ordinance,, and all of the covenants and other provisions of this •,I Ordinance (e?CCept as to details of such ger•'tificates evidencing such r' additional obl igntionc inconsistent tihere+ri.th), shall be for the equal benefit-, prctection and security of the hoidf r•s of any Certificates .?{' ? - •' ? f Originally, a- Pursuant 'to this Ordinance , and C ti's ; ;.. r ` ';.{_, s• aullhoinir. -ed and issued pl• .?rs e _holdErs,of any Certificates evidencing additional pari passe obligations subsequently created 'wittiin .L-he limitations of andin compliance wi Lh ?,., -?. `' • .,`t= ,? 't.? this sub-section L. All of .such Certificates, regardles'S of, the time '? S ','r•? `"'F•i"., I, `F ( •:s n 'nn ' s r.h a e: Ci -illy with wespcct to their' ar tirn? of ti?ea.r i u1ncr, y n).l. r iik ur lien on the ReVE. ?nUes a nd Franchise '.faxes and their oour ces and r ; ?' `,1 ?.":° "of`.-?F L'`?'?t..'.+°'J; a?:: •?'? , .: S'.?t"t y ;-_:.i,''"F `..`:- ;il.. ' .sec or payment from said Revenue and i'ranchine Taxes without: ;i•:, .}'E :?„??>r•: .,;,,... 1? . 1? :?,?,r' :,:-;?.•t-.: -::`.'•.< ?:: 3'+:; h•!'1j ..ef.? .] 4, :?„ e ' .4 S. FV";,,'.Y ."5'•r,'7(Y ,?.z7'. , k,.t . ` ?I{q ? R"ICY ?:•?'`?'; s:,'' ?' 't !!yh. - r. ?;,s;: •..?•. ?' -,s:•-;xY 'iltit',??`-i',d.r?:tt?fi;•- ,t ', i?t"'r?` .., .k...;A%"-:?,;. tf}- (cif .:?t ,•?;.",i, 5t?.,, j?L .. EI. - ' '; ,^. ,,i . .? ?1,?'. ?e4`.;, ( tir^€I?ru 7"',"l-i'ry','°^;sf' , 1 .t ?,,,,,,,,?i'' o,?,ts'-,,,'' \•`' .r`!'f, 1 1 mot'' x ?i? ? '?>,?:cl ??:?n ate} ???. - - IK`' .1?':'t;,.', '•:,?i1 ' j •i i?',?b?n ir`?'?dl ??a;x?t{?? 2 '. - .. .? ? ...14t, S?'_ • t?., ?.": [p?'7?.•:,? . '7.r$Sa ' _' Dr R'f1.f"Sf?L? /U d: ='i r..:-t•(E F.s}:4;? 1'I W -.`. r„-,.+`+?'7 f,*=,4.,.I -71..+;..yrss: ? Yrer31'w!".t' 'r + L`A.?'+ta"€'. €:Y•. .. .e••;,.,- ,. +wy.,.-;`r*'-'".»'-; rr,. ; r,..,.. •.r.war?,w.k?,?.T'?. t.. (r`• .' ;[r?:s. ?t ,y'i.'::' rte =. 'iii!. k• ,}? 'f .`'RS•. !•1 fi. ?..a??wi.?•Il' • y .1+ ?wwe d•m i,: •L 1 ?y - ?:1'. '. .5 .z ? C"., „'tom .. K.. ?Ki+`^?`TJN ,:i?? •: +?5er• :r:?,? a ? .?, y :.? ?4mn`I i::!q?"j•. ?? ?9t ?` ?. Sd .'Ii i? n?•.,: s. ,.`?:r ,.:r; ,'a:?? ?''. ,s __ ?'; t? tb, >;.:..:. '1 •;,, :^???;ti:'. .? z=r';r.. ?? tip':. t 6 preference of any Cortifiaato, or coupon, over any other. All additional pari pasou Certificates issued pursuant to this subsection L shall be dated April 1 or October 1, shall mature on April I .of each year of maturity, and the aemi-annual interest on s any of said additional pari passu Certificates shall be payable on April I and October 1 of each year. The term "additional pars, passu obligations" as used in this } subsection L shall not be deemed to include bonds, notes, certificates ` ar other obligations subsequently issued, the lien of which on the • Revenues and Franchise Taxes is subject to the prior and superior lien on such Revenues and Franchise Taxes of Certificates issued pursuant to this Ordinance, and the City shall not issue, any obligations what 4 soever payable from the Revenues or Franchise Taxes which rank- equally r as to lien and source and security for payment from such Revenues or Franchise Taxes with Certificates issued pursuant to this Ordinance` r :1 :. '4 except in the manner and under the conditions provided in this sub- rr 'I ,I " "3 section L. No additional obligations, as in this subsection defined, r ;,'?•'_' shall be created at any time, however, unless all of the payments into the respective funds provided for in this Ordinance on Certificates j { then outstanding, and all other reserve or sinking funds, or other i 'f:.• ,.' ?' ' payments provided for in this Ordinance shall have been made in full, i and the City shall have fully complied with all the covenants, agree- ments and terms of t4is Ordinance, ` M. REMEDIESO Any holder of Certificates or of any coupons pertaining thereto, issued under the provisions of this Ordinance, or ' any Trustee acting for such Cortificate-holders in the manner herein "`` ,•- E after provided, may, either at law orein equity, by suit, action, F F .4 mandamus or other proceeding in any court' of competent jurisdiction,' ?.. k r protect and enforce any and all rights under the laws of the State of .AFlorida, or granted and contained in this Ordinance, and may enforce and oompel, the performance of all duties required by this Ordinance or 'f $L L Lk'¢¢F?,i °J'. `?%,-y .. ?-FyE; ,'.Y €? ;?k •r,K: _ , .28" "'i- i" :. ?,'-:''{ •'. y 4. .i ',????a;a.re'..-?•nr-;?'••-•......'+.sgxhs'u+ii 's.,-"? F }i 'S[f? - Zt o 1{EiJt ._[:ie;'i',•.°':rJ'?Lk;;?r?:y.'''' !'` V ???'?? .? ,ii .?. f."f?•"a;=::J??kr(^it'..S'" °'v:?••g:;=s?'?'.'i:?1t4::?'??,_?ii .?t:?i t?t.s:z.:ai.;.,:%i?',c37?c' ak?' `.. ?.. :?`"t a'?a•'?' ri. by any applicable statutes to be perforated by bho City or by any officer thereof, including the f,ixin?;, c}barging and callecting of j rate,, rentals, fees, and chl rges for paid Stadium ium Recreational. f F Factlriti,cs,. subject to 16 provisions of any valid leases, or licenses j of said Stadium Recreational Facilities or any part, thereof. In the event that default shall he made iri the, paymont of i the interest on or tho principal of any.of the Cert,ificiatev issued pursuant: to this Ordinance as the same ,hr`?11 become due, or in trhe making of the payments into any reserve or sink:inG fund or any other i payments recuirad to 'be trade by this Ordinance, • or in the event that ? '•?.': ; 4• .,. the City or• my officer, agent or employee thereof shall- fail. or re- use to comply with . the . provisions of this Ordinance.' or shall d "fault in any, covenant: made herein, and in the further event; 'that:'. any' such default .shall continue fc)r a period of thirty 30 days an molder •4 . of such Cer6ificat;es? .or 'any Trustee appointe.d to represent Certifi- sate holders as hereinafter provided, shall be , enti..tl,cd as of right to the appointment of a receiver of such Stadium Recreational Facilities in an appropriate judicial proceeding in a court of 'Com- petent jurisdiction, whether or not such holder or Trustee is also seeking or shall. have sought to enforce any other right or exercise > . any other remedy in connection with Certificates .issued pursuant to this Ordinance. i ,. ,? ';.. • ',. ; ,fit; ' The receiver so appointed shall. forthwith, directly or by. agents and attorneys, enter into and upon and take possession of ?:• . h 'such Stadium Recreational Facilities and each and every part; thereof subject, however," to the rights of any lessees or licensees, and in the name bf the City shall exercise all the rights and powers of the City waLth respect to such Stadium Recreational Facilities as the City :. ', '.. itself' might (to. Such receiver shall collect and receive all Revruue; ?f`.i?;.• ":?'.:::• ?.. maintain and operate such Stadium Recrcational..Fac:ili.ti.es in the p, ;i'=';?'pmanner provided .in this Ordinance, and comply udder the j?trisdicti on ?< ,• r '-c y3•, 'e} ,'y;* - \ \C,' .y' , :r i „'ry ,,: :'' ' -' :t, r. ': ,"• of-the court appointing such receiver$ with all of the provisions of ,, y ,,•`''' ^_,, >t,l°i':'' `'r r, .:.L} ,'. i. ?i? x [I.. ' .. •`;?t :..'`•. „S' r "qtr ' F i,??'? ?; :?t ..•:; ., this Ordi.nance. ?'°? -.:.1,??t:'.:?''`°:.? ::? , 3.x:1";?4~T"?';'? t•'f: v'?wi N? j .l'., i t 10 ;?,., r t? -ter r,5=' y .,. F,. SLSL •., _;?.. 1. rFr i`k x '?_ t 't:*tr j?`r?`S S k•`?}l;; , .. . i ; F'. ',?: ? : ?.' ?? ?`}, '•"+ - a ' " . •: s<,} 'Y .Ny.r.:,F' F "'7. •.e >.i 33 ^ . - t , i .i?r'?' , 4t' ?: ?; t'y ..??? t . ?• '*''r :'t C.t`s'.'S''1ai.M..' J-? .t- ,., .#b 't ,• zy!*?';'r't,',!?„? 79 kk C ;t+-(y`SR.n' -•.?.r]"`.:r•?^.w'R :i.: t.? ?.+•wc •?'^'?fi".`. `;?-?`? _ .•!`E.....!Ir:-5+'a ? a'"`$li;xFf??Mt6?!rrW^•+"..'^.^-'*".!....«,www.w.+?,!.Cr*-.-:'--h^»'¢•;«wr.?? 'rH' a.1`:;:ty-aS+•'" ,t}, `: i:i`::?:,7 .ati,\,' ,f'-• }:°,,5•lS.#S.+!? jr. •.r,.:. ,t.:., ,C.,,` '.K!', e[5 i.i `8 :.?;y j 77,. .2'+d= •??r` .'t 7.i '' z:; `: ',7:..• ??` .{e',v Vi'a`'' S-'?':'.,'.?n k d 'ilS*: ?,' ? r??.• ru`•C:Y:. ir, 'j'! R, t'1a J •_!. 'l" .? "? r e ?g{??; ? H:' "f? i??, '?n'z ;*`.? '1? f'? ?'S?`'a'•Y .1,'.??.:t ? :, :i!' rt# i `'[: °:`i:-: ?(' . ??M?i°T.?"'t. +u+?,F.Y,?{.???rt"?''-'?,...ef^?=-1..-;Y?"}•"'. s,?{..';ere ,af'1??.?f'. X1:3 ?"' ,r?; .??.l\`.. ,'t ti'. F ., ,. 1?' s 1? 1 s f Whenever all that is duo upon Certificates issued pursuant to this Ordinance, and interest thereon, and under any covenants of this Ordinance for reserve, sinking or other fundal and upon any s other obligations and interest thereon, having a charges lien or en- cumbrance upon the Revenues or Franchise Taxes shall have been paid and made good, and all defaults under the provisions of this Ordinance shall have been cured and made good, possession of such Stadium Recreational Facilities shall be surrendered to the City upon the entry of an order of the court to that effect. Upon any subsequent { default, any holder of Certificates issued pursuant to this Ordinance or any Trustee appointed for Certificate holders as hereinafter pro- 3. `tin; F .-?jl??N?,??i?it?isi`v-?i`r•?.'?t??i?'?'? ????i't'?.?rti:.. vided, shall have the same right to secure the further appointment of a receiver upon any such subsequent default. ;.' Such receiver shall in the performance of the powers herd- ' ' ;•< ;;:' :. . inabove conferred upon him be under the direction' and supervision of the court making such appointment, shall at all times-be subject to ' S , .•.`' y the orders and decrees of such court and may be removed thereby and a successor receiver appointed in the discretion of such court. Nothing herein contained shall limit or restrict the jurisdiction of ' such court to enter such other and further orders and decrees as, such court may deem necessary or appropriate for the exercise by the receiver of any function specifically set forth herein. Any'roceiver appointed as provided herein shall hold and operate such Stadium Recreation Facilities in the name of the City ;':.•; and for the joint protection and benefit of the City and holders of Certificates issued pursuant to this Ordinance« such receiver'shall have no. power to sell, assign, mortgage or otherwise dispose of any °;,: `•- ? ;' ?'" , ' ' '' assets of any kind or character belonging or pertaining to such Stadium Recreational Facilities but the authority of such receiver shall be limited to the possession, operation and maintenance or such facilities, subdect to the rights of any lessees or license's, for the sole purpose of the protection of both the City and Certificate t:. holders, and the curing and making good of any default under the i,•F r ? . ..30.. . ; I' ?.?;4;aA419wurca? n.?L?.=:-.: "s r: , .. , ?1:. , .ate,. ...,., '. q.. .. ., . .. - , K r, !?y'f'4. R' ... '! ..:ti??'.?,1=?-n;?rEO»,?.rc:w::-:, Ci?iZ e.,'rc•?v+t..?'1.°rJ?.J iiSE2S'k: ,..?E??.`isi '-1• .. Vii. s ,sc: . F - r«. _ t ? ?` .; ,.?, ;? I .. ?? ?'?''`• •ti?• .f I s i :, y' ..• a i'?1•?•.?? '???:`?.; ?. y.? ,r• : s:•?.r???,' ?",'a .. ? ??.:` .i" "? x 1. l..--••?e ',. 1'X:?+i?Y?`?'+tt~='--h sc??!•i i--+ . ;?teta?,'?.. ?>i: provisions of this Ordinance, and the title to and ownership of such Stadium Recreational Facilities 13hall remain in the City, and no court shall have any ?uriadiction to enter Any ordor or deareo per- mitting or requiring such reoeivor to sell, mortgage or otherwise dispose of any part of such facilities. The holder or holders of Certificates in an aggregate principal amount of not less than twenty-rive per centum of Certifi- Oates issued under this Ordinance then outstanding may by a duly executed certificate in writing appoint a trusted for holders of Car- , tifioates issued-pursuant to this Ordinance with authority to represent such Certificate holders in any legal proceeding for the enforcement and protection of the rights of such Certificate holders. Such certificate shall be executed by such Certificate holders or their duly authorized attorneys or representatives and shall be filed-in the 'office' of the City Auditor and Clerk. N. ENFORCEMENT OF COLLECTIONS. That the City will dili- ', . 3' ' .'" • • , enforce and collect all fees rentals, rates or other charges gently for said Stadium Recreational Faci.liti.es, and take all steps, actions ? ;t :.• .' ;.:, and proceedings for the enforcement and collection of such fees, `' :;. 1.: ' • . ren'tale, rates or other charges which shall become delinquent to the ?F.,'.. full extent permitted or authorized by the Charter of said City and ; by the laws of the State of Florida. `.t. ;:. ,, •`; .. ;~ E I ..,...r,.z•.'rtt7»??- .71'4` ^E,""?t : •f•:..•-,..,Rµ.•y?,?,,..-.•-..« «..•.-..w••.,..-..w.+ocw?w.!^+¢?-tJ .ll. °%?ii?..: 5. ?31.? N'! ?1 ,?tl- t?? .. ?•E,t t.3, f •,J % e•.'' . f :? E ?' ? ,, t, •?.. ice. ? t itt@I?. ".' t x??' ••f°. "'? ak'F?? •Sit .?'. +.. ,y??}. ?. Si lull,,, ARTICLE IV MISCELLANEOUS PROVISIONS, l1t. MODIFICATION OR AMMllMENT. No material modification or amendment of this Ordinance or of any 0 rdinane a or resolution amend- 3 atory hereof or supplemental hereto, may be made without the consent ' in writing of the holders of two-thirds or more in principal amount of the Certificates then outstanding; provided, however, that no modifica- tion or amendment shall permit a change in the maturity of such Corti-' ficates or a reduction in the rate of interect thereon, or in the amount of.the prinaipaj))obligation or affecting the unconditional pro- ; mise of the City to maintain rates and rentals for the Stadium Recrea- tional Facilities and the levy and collection of Franchise Taxers, cia' .. ` herein provided, or to pay the principal of and interest on' the Certi- ficates as the se-me shall become duo from the Revenues and Franchise ?, { + `> Taxes, without the consent of the holder of such Cert?i.fi.cates. + 15. SEVERABILITY OF INVALID PROVISION. If t any one or more . _.:':t ;' "• ' of. the covenants, agreements or provisions of this Ordinance should be held contrary to any express provision'of law or contrary to the policy . . ' of express law, though not expressly prohibited, or against public '. , f . , . ' pglicy, or shall for any reason whatsoever be hold invalid, then such „ . : . covenants, agreements or provisions shall be null and void and shall. be 11 j deemed separable from the remaining eovena.nts, agreements or provisions, ' and in no way affect the validity of all the other provisions of -this 4 Ordinance or of the Certificates or coupons issued thereunder. _ 16, REFUNDING OF CERTIFICATES. If the City shall at any time hereafter issue Certii'ioates, by sale or exchange, to farad or refund an of the Certificates issued pursuant to this Ordinance the ordinance or otherProceedinSs authorizing the issuance of such fund- ' ' a Ong or refunding Certificates may provide that the holders of such ! '_ ? •1 funding or refunding Certificates shell have the.eame lion and all the .:4 ?. ? .. ... rights and remedies of the Certificates so funded or refunded; ? - ` _ dP.'.;:. 4 i 'C? ? ? •? ` ?? i ' ' ? . ' .:?? r ??:" ` i 1 , ??E:: .i ::, 1 C•, 4 m dC. # : T '£?ri:?4?k."? i„?JJ''?1''fM?t»t.k'.• ?:.s' 11€y,,?'. ?. i F fa'i'r 4{'t{EC-?:.s??".c? .?'•s''rk.,_, , S N,;??r^? . `I' i • ... xt•? ,?; ' _.? €'?'V F p F ` i '•k`• -??.i k , ? i 1 . i? N?i•-; f • y , ,.:tf? t. rr;. r:•;°r,...„r.y.,.... -.... i......•...777- i t, •! f ?".`°. ` .r74F; ,., y'J:' ':;.`ni . 7 .? t ' dr ''1 'Y :" 4 i 5 "MM provided, however, that otich furiding or rofunding CorLificate n shall ' be in ].ikc principal amount. and hall bear the I;amc da,te, of matur'?t;y no the Certificates funded or refunded by the i ,au.ance thereof. 17. ISSUANCE AND SALE OI{ ClaRTIfTCATES, That said ;4000000 Recreation fZ,evenu'' Cart Ificat-eo author.i.zcd to he issued by this Ordi - , E nance shall be issued and ;old in such amount, and in such manner and ' at such'price or prices consistent with the provisions of this Ordinance, as the City Commission shal.lhereafter determine b3 resolution. F I ¦ 109 I.hat kinarle {•,. Phillips, Jr., City Attorney, Ue and he i.4 hereby authorized and directed to institute-appropriate proceed- ' ings in the Circuit Court of the Sixth Jud.3.cial Circuit of 'Florida, .'' in and for Pinellas County, Florida, for the validation of :said Certi- F... , ficates, and the proper officers of the City are I7ereby auLllori zcd' to .7 . 'vez° ify on behalf of' the City any pleadings irti such prbcecd inf;s'. 19. That it is necessary for the immediate preservation of the public peace, prosperity, health, and safety of the'City of Clear r• grater and its citizens and inhabitants that the construction, improve,. Ir ' ment and equipment of said Stadium Recraationa1 Facilities, as 'auGhc'r- ized herein, be, undertaken -and completed with the least possible delay, and this Ordinance is hereby declared to•be an emergency measure and shall take effect upon its passage as provided by law. 20 That' all ordinances and resolutions of the City Commission of the City of Clearwater, or parts thereof, in conflict with the prc?? ,•. visions of this Ordinance are to the e.;tent, of such conflict hereby supcrseded'and repealed. t PASSED ON FIRST READING April 12, 1.951+ PASSED ON SECOND 'READING Aril 12,1954 w PASSED ON THIRD AND FINAL April' J?? 195 READING AND ADOPTED layor- o asloner Attest ' ... City. u itox• d' Clerk ` . YV'y! • .? I? "33 •' ' ,)';. YpL_ 'v:rh;Wt r '4,?tF?'•?• .'. } a 41/' ' 4 ;'?'/+'• .t, vif.i?y ?k6 ,t ?Fi `-i r,A?;.a. y.;'"?.?,1`?M'?".":i'!"..+r,.wkia7:k?v'.:Wra=usr•,e•lanaer.,.'^.. T...M....:?r..«t I.,nr!;?J^•v-r-L.-.....+r+-?••..r-i-'-: :-y...r _ ^'"-: ?.-a ?'rJ ''}?:''>?..Xe'?;'rF .1 i l 1 4 _. •r?{+rr"' ..y .'?>? 1 .•;4 •' d ., • t1F': -j . . I.f: ,Y••?' ?ali, :' • '';'e- .?° +?t ,•- 1