718
ORDINANCE NO. 7]14-
AN ORDINANCE SUPPLEMENTING AN ORDINANCE ENTITLEDf
"AN ORDINANCES PROVIDING FOR THE CONSTRUCTION AND ACQUISITION OF ADDI-
TIONS, EXTENSIONS AND IMPROVEMENTS TO THE WATER AND SEWER SYSTEMS
AND STORM SEWERS OF THE CITY OF CLEARWATER, PINELLAS COUNTY, FLORIDA;
PROVIDING FOR THE PAYMENT OR REFUNDING OF CERTAIN OUTSTANDING OBLIGA-
TIONS; AUTHORIZING THE ISSUANCE OF $1,500,000 UTILITY REVENUE CERTIFI-
CATES; PROVIDING FOR THEIR MATURITY DATES; PROVIDING FOR THE EXECUTION,
NEGOTIABILITY AND REGISTRATION OF SAID CERTIFICATES; PROVIDING FOR
REPLACEMENT AND PAYMENT OF MUTILATED, DESTROYED, STOLEN AND LOST
CERTIFICATES; PROVIDING FOR THE COVENANTS AND REVENUES AND APPLICATION
OF REVENUES OF SAID CERTIFICATES; PROVIDING FOR THE COVENANTS AND
OBLIGATIONS OF THE CITY OF CLEARWATER UNDER SAID CERTIFICATES; PROVID-
ING FOR THE ESTABLISHMENT OF THE "UTILITY SYSTEM REVENUE FUND" AND
PROVIDING FOR THE OPERATION AND MAINTENANCE THEREOF; PROVIDING FOR THE
DISPOSITION OF REVENUES FROM THE AFORESAID REVENUE FUND; LIMITING THE
ADDITIONAL OBLIGATIONS WHICH MAY BE ISSUED AGAINST THE SECURITY PLEDGED
FOR SAID CERTIFICATES; PROVIDING FOR REMEDIES OF CERTIFICATEHOLDERS;
LIMITING MODIFICATION OR AMENDMENT OF THIS ORDINANCE; PROVIDING FOR
THE SEVERABILITY OF THR 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 TO THE EXTENT OF THEIR CONFLICT."
BE IT ORDAINED BY THE CITY COM USSION OF THE CITY OF CLEARWATER,FLORIDA:
ARTICLE I
STATUTORY AUTHORITY, FINDINGS AND DEFINITIONS.
1.01. AUTHORITY OF THIS ORDINANCE. This ordinance is
adopted pursuant to the provisions of Chapter 9710, Special Acts of
the Legislature of Florida for the year 1923, and amendments thereof,
and supplements thereto, being the Charter of the City of Clearwater,
and other applicable provisions, of law, and pursuant to Section 3.04 (K)
of an ordinance entitled: "AN ORDINANCE PROVIDING FOR THE CONSTRUC-
TION AND ACQUISITION OF ADDITIONS, EXTENSIONS AND IMPROVEMENTS TO THE
WATER AND SEI4ER SYSTEMS AND STORM SEWERS OF THE CITY OF CLEARWATER,
PINELLAS COUNTY, FLORIDA; PROVIDING FOR THE PAYMENT OR REFUNDING OF
CERTAIN OUTSTANDING OBLIGATIONS; AUTHORIZING THE ISSUANCE OF $1,500,000
UTILITY REVENUE CERTIFICATES; PROVIDING FOR THEIR MATURITY DATES;
PROVIDING FOR THE EXECUTION, NEGOTIABILITY AND REGISTRATION OF SAID
CERTIFICATES; PROVIDING FOR REPLACEMENT AND PAYMENT OF MU'T'ILATED,
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DESTROYED, STOLEN AND LOST CERTIFICATES; PROVIDING FOR THE GOVENANTS
AND REVENUES AND APPLICATION OF REVENUES OF SAID CERTIFICATES; PROVID-
ING FOR THE COVENANTS AND OBLIGATIONS OF THE CITY OF CLEARWATER UNDER
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SAID CERTIFICATES; PROVIDING FOR THE ESTABLISHMENT OF THE "UTILITY
SYSTEM REVENUE RUND" AND PROVIDINa FOR THE OPERATION AND MAINTENANCE
THEREOF; PROVIDING FOR THE DISPOSITION OF REVENUES FROM THE AFORESAID
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REVENUE FUND; LIMITING THE ADDITIONAL OBLIGATIONS WHICH MAY BE
ISSUED AGAINST THE SECURITY PLEDGED FOR SAID CERTIFICATES; PROVIDING
FOR REMEDIES OF CERTIFICATEHOLDERS; LIMITING `.0DIFICATION OR AMEND-
MENT OF THIS ORDINANCE; PROVIDING FOR THE SEVERABILITY OF THE PROVI-
SIONS 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 REPEAT, OF
ORDINANCES AND RESOLUTIONS IN CONFLICT HEREWITH TO THE EXTENT OF
THEIR CONFLICT" enacted by the City Commission of the City of
Clearwater, Florida on the 16th day of August, 1955 (hereinafter
referred to as "Original Ordinance"), and is supplemental to said
Original Ordinance.
1.02. FINDINGS AND DETERMINATIONS. It is hereby found
and determined as follows:
(A) That the City of Clearwater now owns, operates and
maintains a combined and consolidated system of utility properties
supplying water and sanitary and storm sewerage services in and to
it
said City and its inhabitants and other users, and that/is necessary
and essential that said utility properties be improved and extended,
as hereinafter provided, for the protection.of the health, safety
and welfare of the City and its inhabitants.
(B) That the City derives revenues from rates, fees and
charges made and collected for the services and facilities of the
aforesaid utility properties and said revenues are not pledged or
encumbered in any manner and that no obligations of any kind are
chargeable against the revenues of said utility properties, or any
part thereof except as follows:
(1) The City has heretofore issued and has now outstanding
its Utility Revenue Certificates, Series of 1955, dated August 1, 1955s
in the principal amount of *1,500,000 maturing in numerical order an
August 1 of each'year in the years 1956 to 1985, inclusive, which
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by their terms are payable from and secured by a lien upon and pledge
of the revenues derived from the operation of the aforesaid utility
properties, in the manner provided in the Original Ordinance.
(C) That said Original Ordinance, in Section 3,04 (K)
thereof, provides for the issuance of pars passu additional Certificates
under the terms, limitations and conditions provided therein,
(D) That the average annual Net Revenues of the aforesaid
utility properties (as such term is defined in the Original Ordinance)
during the preceding two (2) years were $370,553.93.
(E) That the City is authorized to issue the Certificates
authorized herein as pari passu additional certificates within the `. ;-.
authorization contained in Section 3,04 K of the Ori inal Ordinance.
Alt
(R)' That the aforesaid utility properties shall be improved
and extended substantially in accordance with the plans and specifica-
tions prepared by Briley, Wild and Associates, Engineers, and hereto-
fore filed in the office of the City Auditor and Clerk at an estimated '
cost of-not exceeding $ 21000,000. Such cost shall be deemed to
include the coat of the construction or acquisition of extensions,
improvemento and betterments to said utility properties, Including
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the acquisition of any lands or interest therein and of any fixtures
or equipment or properties deemed necessary or convenient therefor, i -
interest upon the certificates issued pursuant to this ordinance prior
to, and during and for six months after the completion of such exten-
sions, improvements and betterments, engineering and legal expenses,
expenses for estimates of costs and of revenues, expenses for plans,
specifications and surveys, administrative expenses and such other
expenses as may be necessary or incident to the financing authorized
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by this ordinance,and the construction or acquisition of the extensions, ?
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improvements and Veitterments authorized by this ordinance and the
placing of same in operation. is
(a) That the estimated revenues to be derived from the
operation of said utility properties will be more than sufficient to
pay all operating and maintenance costs of said utility properties and
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to pay the principal of and interant on the Certificates herein author-
ized and the principal of and interest on the outstanding Utility
Revenue Certificates, Series of 1955, dated August 1, 19550 and all
sinking fund, reserve and other payments provided for in this ordinance,
- : and in the original Ordinance, and that it will never be necessary or
authorized to levy taxes on any real property in said City to pay the
principal of or interest on any of the Certificates to be issued pur-
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suant to this ordinance, or to make any of the reserve, sinking fund
or other payments provided for in this ordinance, and that the Certifi-
cates issued pursuant to this ordinance shall not constitute a lien
upon any of the said utility properties or upon any other property
whatsoever of the City.
. ' 4'1.03. ORDINANCE TO CONSTITUTE CONTRACT. In consideration
of the acceptance of the.Certificates authorized to be issued here-
under by those who shall hold the same from time to time, this ordi-
nance and the Original Ordinance shall be deemed to be and shall
constitute a contract between the City and such certificateholders,
and the covenants and agreements herein and In said Original Ordinance
set forth to be performed by said City shall be for the equal benefit,
protection and security of the legal holders of any and all of the ;
Utility Revenue Certificates, Series of 1955, and the Certificates
Issued hereunder, and the coupons attached thereto, all of which shall
be of equal rank and without preference, priority or distinction of
any of the Certificates or coupons over any other thereof, except as
expressly provided therein and herein.
1.04. DEFINITIONS. That all of the definitions and terms
contained in the Original Ordinance shall have the same meanings
ascribed thereto in the Original Ordinance and shall apply fully to
this ordinance and to the Certificates issued hereunder.
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ARTICLE II
,i. ,. 2.01. AUTHORIZATION OF CERTIFICATES. Subject and pursuant
to the provisions of this ordinance and the Original Ordinance, obliga-
tions of the City of Clearwater, Florida, to be known as "Utility
Rev6nue Certificate:, Series of 195611, are hereby au thorized to be
sy issued in the ag?,Iregate principal amount of not exceeding, Two
t Million Dollars xRkzxzzxdxRa*Jtzx3c 21 000, 000 ) .
for the purpose of financing the cost of the improvements to the
SS?stem as provided inflection 1.02 (F) hereof.
.? 2.02. DESCRIPTION OF CERTIFICATES. The Certificates shall Y
be dated August 1, 1956; shall be'in the denomination of $1,000 each, is
I ;. shall be numbered from 1 to 2000 , inclusive; shall bear interest at
a rate or rates, not exceeding the legal rate, to be determined upon
the sale thereof, payable semi-annually on February 1 and August 1
of each year, and shall mature serially in numerical order, lowest
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numbers first, on August 1 of each year, in the years and amounts as
follows:
Year Amount Year Amount` ?.
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1957 $ 310000 1974 54,000 :
' 1958 329000 1975 56,OO0
1959 33,000 1976 58 000
1960 3.5,000 1977 60,OOo
1961 369000 1978 62,000
1962 37,000 1979 64,000
1963 3 8, 000 1980 660000 1964 39,000 1981 68P O00
,
1965 41,000 1982 700000
1966 42,000 1963 72,ooa
1967 43,000 1984 75,000
1968 45,000 1985 77,000
t ;a 1969 46, 000 1986 80, 000
1970 48,000 1987 82,000
1971 49,000 1988 $ p 000
1972 51,000 1989 88000
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1973 52,000 1990 912000
n.'i'ce ; s' •; :'.` ; ' ;
1991 94,000
ats,.. 'F Said Certificates shall be issued in ooupon form, shall be
with payable respect to both principal and interest at the principal
Yf office of The Chase Manhatt n Hank N Y C Y r' I
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lawful money of the United States of America and:.shall bear interest
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from their date, payable-in accordance with and upon surrender of
the appurtenant interest coupons as they severally mature.
The Certificates maturing in the years 1963 to 1991, inclu-
sive, shall be redeemable prior to their respective stated dates'of
maturity, at the option of the City, on August 1, 1962, or on any
interest payment date thereafter, in whole•or in part, but in inverse
numerical order if less than all, at par and accrued interest together
with the following premiums if redeemed at the following times:
Four per centum (4%) of the par value thereof if
redeemed on August 1 3962 or thereafter to and
including August 1, 19671
Three per centum (3%) of the par value thereof
if redeemed on February 1, 1968 or thereafter to
and including August 1, 1972;
Two per centum (2%) of the par value thereof if ,;.
redeemed on February 1, 1973 or thereafter to
and including August 1, 1977;
One per centum (x) o.t the par value thereof if
redeemed on February 1, 1978 or thereafter to
and including August 1, 1982; and
Without premium if redeemed thereafter;
provided, however, that notice of such intended redemption shall be
given at least.once not less than thirty (30) days prior to the _
redemption date by publication in a financial paper published in the
City of New York, New York.
2.03. EXECUTION OF CERTIFICATES AND COUPONS, Said Certi-
ficates shall be executed in the name of the City by the City Auditor i;•'.:
and Clerk and its City Manager grad countersigned by the Mayor-Commis-
sioner and its corporate seal shall be affixed thereto. In case any
one or more of the officers who shall, have signed or sealed 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 such Certificate had not ceased
s no to hold such office Any
Certificate may be signed and sealed on behalf of the City by such
person as at the actual t#me of the execution of such Certificate 1
shall hold the proper office in the City, although at the date of
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such Certificates such person may not have held such office or may
not have been no authorized.
The coupons to be attached to the Certificates shall be
authenticated with the facsimile signatures of the present or any
future Ma
or-Commissioner Cit M A r14 4- A4 4.
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, y anager an y Au VA, and Clerk
of said City, and the City may adopt and use for that purpose the
facsimile signature of any person who shall have been such mayor-
Commissioner or City Manager or City Auditor and Clerk at any"time
on or after the date of the Certificates, notwithstanding that he may
have ceased to be such official at' the time when said Certificates
shall be actually sold and delivered.
2.o4. FORM OF CERTIFICATES AND COUPONS. The text of the
Certificates and coupons and provisions for registration shall be of
substantially the following tenor, with such omissions, insertions
and variations as may be necessary and desirable and authorized or
permitted by this ordinance or any subsequent ordinance adopted prior
to the issuance thereof. Said Certificates shall be registerable,
replaceable and negotiable in the manner and to the extent provided
in the Original ordinance,
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No. UNITED STATES OF AMERICA $1,000
STATE OF FLORIDA
COUNTY OF PINELLAS
CITY OF CLEARWATER
UTILITY REVENUE CERTIFICATE, SERIES OF 1956
KNOW ALL MEN BY THESE PRESENTS that the City of Clearwater,
Florida, for value received, hereby promises to pay to the bearer, or
,. if this Certificate be registered, to the registered holder as herein
provided, on the Ist day of August, 19 , from the revenues and special
funds provided therefor, the principal sum of
ONE THOUSAND DOLLARS
with interest thereon at the rate of
per centum ( %) per annum, payable semi-annually on the 15t day of '-
February and the 1st day of August in each year upon the presentation s;
. .. and surrender of the annexed coupons as they severally fall due or to 'i?:.????.?'. •:' ?,j;'°?•'.•
the registered holder hereof if this Certificate be registered as to
interest as well as principal. Both principal of and interest on
this Certificate are payable in lawful money of the United States of _ :•?;;;; a,'.,
. •j,"; L;t ire,
America at the principal office of The Chase Manhattan Bank, New
York, New York.
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This Certificate is one of an authorized issue of Certifi-
cates in the aggregate principal amount of $ 2,000,000 of like date,
tenor and effect, except as to number and date of maturity, (and 3
interest rate) issued to finance the cost of the acquisition and con-
struction of various improvements and extensions to the utility prop-
_ .
erties of the City supplying water and sewer services for the City of
;`. Clearwater, Florida, under the authority of and in full compliance
with the Constitution and Statutes of the State of Florida, including `•
the Charter of said City, and other applicable statutes, and ordinances
duly enacted by the City Commission of said City and is subject to all
the terms and conditions of said ordinances.
The Certificates of this issue of which this Certificate
."'' ''.: '' b•, is one maturing in the ears 1963 9 .:>
?s '?'_'`-:•?',• ,?`':::: one, y to 19 7, inclusive, are redeemable
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°d ` ?{ei{.?€?t?5"A,? •, i`: °-rV y.. .[. 1:?, .: r?"..dy :ri.'..`id`;'t:i.i:. 6
5?? `? fiz ? ?I t/ /! ? 1..,' . ?; i:rr ,'???;fsC ?.:i•. i_t> ?,.•Y`'?,'i:??r'rf-='' r
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:. prior to maturity, at the option of the City, on August 1, 1962, or
on any interest payment date thereafter, in whole or in part but in
inverse numerical order if less than all, at the price of par and
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accrued interest to-the date of redemption, plus the following pre-
miums if redeemed at the following times:
Four'per centum (4%) of the par value thereof if
redeemed on August 1, 1962 or thereafter to,and
including August 1, 1967;
Three per centum (3%) of the par value thereof if
redeemed on February 1, 1968 or thereafter to and
including August 1, 1972;
Two per centum (2%) of the par value thereof if
redeemed on February 1, 1973 or thereafter to and
including August 1, 1977;
One per centum (1%) of the par value thereof if
redeemed on February 1 1979 or thereafter to and
including August 1, 192; and
Without premium if redeemed thereafter;
provided, however, that a notice of such intended redemption shall be
given at least once not less than thirty (30) days prior to the re-
demption date by publication in a financial paper published in the
City of New York, New York.
This Certificate and the coupons appertaining hereto are
payable solely from and secured by a lien upon and pledge of the net
revenues derived by the City from the utility properties of the City
supplying water and sewer services in the manner provided in the
ordinance authorizing said Certificates and does not constitute an
indebtedness of the City of Clearwater within the meaning of any
constitutional, statutory or charter provision or limitation, and it
is expressly agreed by the holders of this Certificate and the cou-
pons appertaining hereto that such holders shall never have the right
to require or compel the exercise 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 interest on this Certificate or the
making of any sinking fund, reserve or other payments provided for
in the ordinance authorizing this issue of Certificates.
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It is further agreed between the City of Clearwater and the
holder of this Certificate that this Certificate and the obligation
evidenced hereby shall not constitute a lien upon the City's utility
properties, or any part thereof) or on any other property of or in
the City of Clearwater, but {shall constitute a lien only on the net
revenues derived from the operation of the City's utility properties
supplying water and sewer services in the manner provided in said
. I authorizing ordinance.
The Certificates of the issue of which this Certificate is
' one are on a parity and rank equally as to lien on and source and
security for payment from the net revenues of the aforesaid utility
- :; properties of the City, and in all other respects, with outstanding
certificates of an original issue of $1,500,000 Utility Revenue
Certificates, Series of 1955, dated August 1, 1955, and any other
Ai pari passu certificates hereafter issued by the City payable from the
net revenues of said utility properties under the terms, limitations
:,'.;;.• ! and conditions contained in the ordinance which authorized the issu-
ance of said $1,500,000 Utility Revenue Certificates, Series of 19550
The City has covenanted and agreed with the holders of the
1 Certificates of this issue to fix and establish and maintain such rates
and collect such fees, rentals or other charges for the services and
:. facilities afforded by the City's utility properties supplying water
' and sewer services and to revise the same from time to time whenever
necessary, as will always provide revenues sufficient to pay, and out
of said revenues shall pay, as the same shall become due, the principal
of and interest on said Certificates, all reserve or sinking funds or
other payments provided therefor, the necessary expenses of operating
and maintaining said utility properties and all other obligations
payable out of the revenues of said utility properties, and that such
rates, fees, rentals or other charges shall not be so reduced so as
to be insufficient to provide adequate revenues for such purposes,
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j 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 the ordinance authorizing the issuance thereof.
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 Laws and Constitution of the State of Florida applicable thereto,
j and that the issuance of this Certificate, and of the issue of Cer-
tificates of which this Certificate is one does not violate any
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constitutional, statutory or charter limitation.
This Certificate, and the coupons appertaining hereto, 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, and the original holder and each successive holder
.
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of this Certificate, or of the coupons appertaining hereto, shall be l
conclusively deemed by his acceptance hereof to have agreed that this
Certificate and the coupons appertaining hereto shall 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,
a
and of the coupons
ppertaining hereto, shall be conclusively deemed
to have agreed and consented to the following terms and conditions:
(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 instruments payable
to bearer under the law merchant and the Negotiable Instruments Law „
of the State of Florida.
(b) Any person in possession of this Certificate, unless
registered-as herein provided, or of the interest coupons hereunto :.
appertaining, regardless of the manner in which he shall have acquired
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possession, if; hereby authorized to represent himself as the absolute
owner hereof, and is hereby granted power to transfer absolute title
?. .> hereto by delivery hereof to a bona fide purchaser, that is, to any
one who shall purchase the same for value (present or antecedent)
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without notice of prior defenses or equities or claims of ownership
enforceable against his transferror; every prior taker or owner of
this Certificate, unless registered as herein provided, and of the
annexed interest coupons, waives 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 title hereto and to all
rights represented hereby; and
(c) The City of Clearwater may treat the bearer of this
Certificate, unless registered as herein provided, or of the interest
coupons hereunto appertaining, as the absolute owner hereof for all
purposes without being affected by any notice to the contrary.
This Certificate may be registered as to principal only, or
as to both principal and interest, in accordance with the provisions
endorsed hereon. xk/
IN WITNESS WIIEI-OF Raid City of Clearwater, Florida, has
issued this Certificate and has caused the same to be signed by the
City Auditor and Clerk and its City Manager, and countersigned by its
Mayor-Commissioner with the corporate seal of the City to be affixed
hereto and has caused the interest coupons hereto attached to be
By
City Mabager
executed with the facsimile signatures of the said officers, all as
of the lot day of August, 1956.
CITY bF CLEARWATER, FLORIDA
By
y Auditor an er
Countersigned:
yor-- o s6 loner
Card 7I V
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FORM OF COUPON
r No. t
S
On the 1st day of , 19 , the City of Clearwater,
Florida, will pay to the bearer at the principal office of The Chase
Manhattan Bank, New York, New York, from the revenues and special ;
funds referred to in the Certificate to which this coupon is attached, }
h the sum of
in lawful money of the United States of America, upon presentation
and surrender of this coupon, being six months interest then due on
'Y its Utility Revenue Certificate, Series of 1955, dated August 1,
:: ''?•, 1956, No
. CITY OF CLEARWATER, FLORIDA...
-tie F.
. s. or an Clerk
fl, :re °lr + City ager °e;?:`;'r,::. •r,'??a Jr}? ..'I r,.'"r?'?'•,e :. g
ri .,? .3t -;e. •i Y, k'.. ''L j?°^7..k.t,; -p', :^v?.'k.3 ,;.!"
k . yor-Co ss oner
. •?'(To be Inserted in Coupons maturing after callable date on Callable . ''
` Certificates -- "unless the Certificate to which this coupon is
attached has been previously duly called for prior redemption and
payment thereof duly provided for")
J° (FORM OF VALIDATION CERTIFICATE)
Validated and confirmed by decree of the Circuit Court of
the Sixth Judicial Circuit of Florida, in and for Pinellas County,
rendered on the day of , 1956.
t,?,'-:t;' ;/ir• ".1.•.,•-'•^', ,.fit .t^ >-' ',_' a
er of e C rcu O Pinellas
' =}
County, Florida '
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(PROVISION FOR REGISTRATION)
This Certificate may be registered in the name of the holder
? on the books to be kept by the City Treasurer, as Registrar, or such
other Registrar as may hereafter be duly appointed, as to principal
?. only, such registration being noted hereon by such Registrar In the
registration blank below after which no transfer shall be valid unless
made on said 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 butt it may be again registered
F as before. The registration of this Certificate as to principal shall
not restrain the negotiability of the coupons by delivery merely but
the coupons may be surrendered and the interest made payable only to
the registered holder, in which event the Registrar shal2 note in the
registration blank below that this Certificate is registered as to
interest as well as principal and thereafter the interest will be re-
mitted by mail to the registered holder. With the consent of the
holder and of the City of Clearwater this Certificate, when converted
into a Certificate registered as to both principal and interest, may
".` be reconverted into a coupon certificate and again converted into a
Certificate registered as to both principal and interest as herein-
above provided. Upon reconversion of this Certificate coupons repre--
senting the interest to accrue upon the Certificate to date of matur-
ity shall be attached hereto by the Registrar and the Registrar shall
note in the registration blank below whether the Certificate is
registered as to principal only or payable to bearer.
Date of In Whose Name Manner of Signature of
RegistrationRegistered Registration : Registrar
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ARTICLE III
SECURITY OF CERTIFICATES
" 3.01. CERTIFICATES ON PARITY WITH UTILITY REVENUE CERTIFI-
CATESJ SERIES OF 1955. The Certificates issued pursuant to this
' ordinance shall be on a parity and rank equally, as to lien on and
source and security for payment from the Net Revenues of the System
and in all other respects, with the outstanding Utility Revenue Cer-
tificates, Series of 1955, dated August 1, 1955, issued pursuant to
=. ?': °,'. .' .; .: ` •' the Original Ordinance, and any pars passe additional obligations
hereafter issued pursuant to and within the terms limitations and
conditions contained in Section 3.04 (K) of the Original,Ordinanee.
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3.02. CERTIFICATES SECURED BY ORIGINAL ORDINANCE. The Cer-
tificates authorized by this ordinance shall be deemed to have been
?. issued pursuant to the Original Ordinance (to which this ordinance is
•3
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supplemental) as fully and to the same extent as the Utility Revenue
Certificates, Series of 1955, dated August 1, 1955, originally issued
pursuant to said Original Ordinance, and all of the covenants and agree-
ments contained in the Original Ordinance shall be deemed to have
been made for the benefit of the holders of the Certificates issued
pursuant to this ordinance, and any pari passu additional obligations
hereafter issued within the terms, limitations and conditions con-
' . ,.
tained in Section 3.04 (K) of the Original Ordinance, as fully and
to the same extent as for the holders of said outstanding Utility
Revenue Certificates, Series of 1955, dated August,l, 1955.
All of the covenants, agreements and provisions of said
Original Ordinance (except as to details inconsistent with this ordi-
nance) shall be deemed to be part of this ordinance to the same ex-
tent as if incorporated verbatim in this ordinance, and shall be fully
enforceable in the manner provided in said Original Ordinance by any
of the holders of the Certificates issued pursuant to this Ordinance.
The Revenue Fund, Sinking Fund, Reserve Account in said
Sinking Fund and Renewal and Replacement Fund, created and established
pursuant to the Original Ordinance shall be continued and maintained as
provided in the Original Ordinance as long as any of the Certificates
issued pursuant to this ordinance, or the interest thereon, are out-
standing and unpaid, and the payments into said Sinking Fund and Reserve
Account therein shall be increased by the amounts necessary and required
for the Certificates issued pursuant to this ordinance, and no pre-
ference, priority or distinction of any kind shall exist or be exercised
in paymente from said Sinking Fund or the Reserve Account therein
between said outstanding Utility Revenue Certificates, Series of 1955,
and the Certificates issued pursuant to this ordinance, and any part.
-15-
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pars passe additional obligations hereafter issued pursuant to the
r' terms, limitations and conditions contained in said Original Ordinance.
r ARTICLE IV
`' •! ' .. ' ;:.: " APPLICATION OF CERTIFICATE PROCEEDS
4.01. APPLICATION OF CERTIFICATE PROCEEDS. All moneys -
received from the sale of any.or all of the Certificates authorized '
,I
and issued pursuant to this ordinance shall be disbursed and
applied as follows: 4 r.
(A) All accrued interest received upon the delivery of t
the Certificates shall be deposited in the Sinking Fund established
v t': ;' = ursuant to the Original Ordinance.
-` (B) The balance of the proceeds of sale of the Certificates `' •_:
shall be deposited by the City in the Construction Trust Fund established
Pursuant to the Original Ordinance and shall be disbursed and applied
toward the payment of the costs of extending, improving and adding
F 7 1. 1 i . J
s•. to the System, as authorized by this ordinance, upon the terms and
conditions applicable to the withdrawal of moneys from the Construe-
tion Trust Fund as provided for in the Original. Ordinance and the
Construction Trust Fund Agreement entered into pursuant thereto.
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.`ikrt •?4??ll i?•?'1? ';'?s s. `,{.F. ?.. ?'-' :•?E Y' '?• 'r .'r•1..'•YF;F47.x:°3 S`?t t`,j. , (.^1'ui .tk;`, `'" ?, ;.'f. ;`, x','C` ,°F;'?.. s'f.
?J?''?a , .?'y.LCi. sl tSr ;- .n ? ,?: •0 7 •'ih r '',:
k.,'ti4't',:'•:sj"?:: t7?xzb?'?',:g~Fr ;;.. n: r.."`•?SrS - .$'r. :'•..: •t :'(: ' i1 f, 1
v,•FYYi41 rx,Lf 3';-??..Y='.aSF}•s ey'? ? }' `•5'i -T%S4. ``'•'`S•,j=r ,. _
;', :S`i > ` a+VS'? : N. .,.; .. r :: "; •2 :`tip.
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ARTICLE V
MISCELLANEOUS PROVISIONS
5.01. MODIFICATION OR AMENDMENT. No material modification
or amendment of this ordinance or of any ordinance or resolution amenda-
tory thereof or supplemental thereto, 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 shall permit a change in the maturity of such Certificates or a
reduction in the rate of interest thereon, or in the amount of the
principal obligation or affecting the unconditional promise of the City
to fix, maintain and collect fees, rentals and other charges for the
water service and sewer service of the System sufficient to pay the
principal of and interest on the Certificates, as the same shall become
due, from the Revenues of the System, or reduce such percentage of
holders of such Certificates required above for such modifications or
amendments, without the consent of the holders of such Certificates.
5.02. SEVERABILITY OF.INVALID PROVISION. If any one or more
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 agalzat public
policy, or shall for any reason whatsoever be held invalid, then such
covenants, agreements, or provisions shall be null and void and shall
be deemed separate from the remaining covenants, agreements or provi-
sions, and in no way affect the validity of all the other provisions of
this ordinance or of the Certificates or coupons issued thereunder.
5.03. VALIDATION AUTHORIZED. That pursuant to Chapter 75,
Florida Statutes, the City Attorney of the City of Clearwater, be and
he is hereby authorized and directed to prepare and institute proceed-
ings in the Circuit Court of the Sixth Judicial Circuit in and for
Pinellas County, Florida, to validate and confirm the issuance of
the Certificates authorized by this ordinance and all proceedings
and actions taken relating thereto.
Card 719- -17-
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5.04. EpncTm DATE. It is hereby found, declared and
determined that the funds to pay the cost of the construction of the
additions, extensions and improvements to the System authorized herein
" are necessary and urgently needed for the preservation of the health,
safety and welfare of the inhabitants of the City of Clearwater; than
an emergency is hereby declared and that this ordinance shall be in
full :force and effect immediately upon its passage as provided by law.
5.05. That all ordinances and resolutions of the City Cam -
mission of the City of Clearwater, or parts thereof in conflict with
the provisions of this ordinance are to the extent of such conflict
hereby superseded and repealed.
PASSED ON FIRST READING 10 ,
'...:. - y.' PASSED ON SECOND READING Q d
,,-
PASSED ON THIRD AND FINAL
READING AND ADOPTED Ja ! SG
(CITY SEAL)
HERBERT M: BH?O T?N•..
Mayor-Comffii.ssioner
i'. ATTEST:
/04
H. Whitehead
Ci y Auditor and Clerk
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The Clearwater Seen NOTICE nr PASSAGE Or (IRnt1ANCL
Published I)e11 onnINANCe NO. 'IIe
Y AN ORDINANC>r• SUPPLEMENTING
Clearwater, Pinellas County, Florida AN OnDiffANCE LN'TiTZXD!- "AN ;
STAT1i OF rLOgIDA CONSTRUCTIONR?ANnNAC>QI/AITfON
COUNtY Or PINELLASt iirlioVT,TION'S "TOTTIAISNIYAArf7nl?
.F
Before the undersigned authority personally appeared W, S, 7.achacb, who AND eEW71t SYSTEMS Axn RTonti
sr"Irns aF THE CITY Or CLRAR-
on oaih says that he is the General Manager of the Clearwater Sun, a daily newspaper WATZR, PINELLAS COUNTT, FLGIt-
published at Clearwater In Pinellas county, Florida] that the attached copy of InA: FnovlnlNn F0n THE PATMENT,
on nEFUNDING or - CERTAIN OUT• ... .. •1, . ; ' ' .
advertisement, being a .Notice ..o£. -Passage.. of.. Ordinanae......... ;riK? TeiF inRRir°tNC? Nnv si M1nennMn
UTILITY REVENUE CERTIFICATER!
........................................................ ....
'' •. '•." s ' in the salter of PROVEDtN° FOR THV•IR St}TVRiTY
AB n E . a-
CU
CUT10N, Nrci NE°nitAR{L1'rY AND Rr RL:G•
f ' Ordinance • Nzz.7 • • • T1 N nD O
. .• •...•,.••,.•...•.••..•• .............•..•..•....,•. 119TRATT0N OF SAID OISnTIIrICATF.R: -
PAVMFNNG r R ANA) '?t
`- .. ...... ......... ........ ......... .............. ...................................... PAY\Ir.NT OF F MUTILATED-' DI:•l .- ,
7 RTRUYED, RTOLrN AND LQST CF.R-
XCJ K X7C7CXXXX was published in TIFICATZElt , PRnVIDINn rnR ? '17111:'=
said newspaper to the issues of ...sC?7tt!1IJ?]07?..1? 1}5??..••••••••'•••, > , , • AP? CATInN A O r RE ENULe A OF'
?• SAID CERTIN'ICATre; PltDV1D7NG .
FOR THE COVENANTS AND ODT.IGA•, '
'TIOND OF TIIE CITY OF CLKARWAT.
Affiant further Says that the said Clearwater Sun is a newspaper published at pnOVIDINa ,ENT FOR Or, THE "UTILITT SYSTEM
Clearwater, IA said Pinellas County, MrJda, and that the sold newspaper has berotofore vrvENUF. rural AND FROVIDINO
been continuously published in said Pinellas county. rlorida, each day and has boon rOR Tltr., OPERATION ANT) MAIN
-
TENANCE • Timrmor: FRovIDING,
°''.' ' entered as second class mail atelier at the post office in Clearwater, in said Pinellas DISPOSITION of
Countyron Florida, fora period at one year next preceding the first publication of the NUEs T F'nGntnr•TtE 11F. AFGREexrn n VW., •VZ
'
i : ; attached copy of advortleementl and affiant further says that he has neither paid Nur, ). LI ]TIN Ur ADW '
, 4 nor promised any person, firm or corporation any discount, rebate, commJ rU OJILTUATIONS WHICH 7r refund MAT
:',=j,s • -
for the purpose of securing this advertisement for public Lion is the lilt taeUFA Ar1AINRT TIIPf 9111=1117r,
i d: newsp I. PLFDn;:D FOR exit) CISRTtrICATER;=
• i,`-,• rnovInING FGR REAIEDrre op, CLR-'
'+''• " , ?' ?? C•
oTsrscATE 11OWEns: LIMITING MOD•; ` _ ': ?'}n ;: . ..; • • • • • .. 1 .. • ...? .. , .... RDWANCE RPROVIDING 1*nR
iCATIO 'I?i1E, L
•? ' • :•Y.i, E?3 SEVERARILiTY QF Tlin PROVISIONS
?,• :.'?,:t,:. Sworn to an nbscrlba belOre RUA CHEREOF1 PRnVtDING Iron Nit" in. -
'
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N in AND !
TItE
TIFICxTES: PROVtbltan Iron
't. ?:," _ ;: ,•;. F "f5,, ...I.j, .:j y mg at ay of .P CT?Jt. ?. 1115. b. cA?rspl+A rnovlDirFin SAID T,iieRTI
INANCI: Is AN EMERGENCY
USE; AND PROVIDING AE.
rOR'nEPEAi.
sifts#';`,??; ,:?t'•_'':,:;•, tSl':/1L11 ry N CONFLICTEHEREWIIRI:$Dr1.O.,TIIE
Note Pulllic
?•':''-,, Natory public, Mote el Florido of 1014s PATENT OF TI;FIR'CgNFLICr
MV commission cx I r + '
FASeEB ON IrIR$T READING,
li S, llpril 24, 1959c
?- •'i •., ,"-.r.r ,a,.:i•: ?• 601tucU uy Amen[un Sir'cev Co, N, Y ' $flitlT4?T 10, 1954 .
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TABNrD ON THIRD AND-TINA
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,:?tL F o>,°.,*t+.-% ••Y.,!'• =t - City Auditor and Clerk
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