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S?S?w?Y'?/'`?`.`-?Yi` :r':+r;r','f::?:: =•;'s ,',.?.::2:; ,} ..:..•.'.?..#?`.ei,`,s.r,..,..t.tn:' ''rot'r:;r:=t:v.l,,1'?.:?{•° °? fr?'''`+'??!+'x `'",'?• Ry `:i ?,i s' '? ?f '?ti;.?ti fi...K•t.'r,$"r. 'i?iv E ., '-;1,.5„x: J y?,?-•f'"•m`?j ?;?' S,. ORDINANCE NO. 876 r YR > {°r =AM`s°AN ORDINANCE SUPPLEMENTING AN ORDINANCE ENTITLED "AN I '?lr"t???; ORDINANCE AUTHORIZING AND PROVIDING FOR THE ISSUANCE OF $3,260,000 UTILITIES TAX IMPROVEMENT CERTIFICATES OF THE CITY OF CLEARWATER FOR THE PURPOSE OF FINANCING THE eal:? R.S., •,i, , j: COST OF CONSTRUCTION AND ACQUISITION OF VARIOUS MUNICIPAL IMPROVEMENTS, INCLUDING CONSTRUCTION AND ADDITIONAL - FACILITIES TO THE EXISTING MUNICIPAL GAS UTILITY SYSTEM ' TO PROVIDE NATURAL GAS ACQUISITION OF RIGHTS-OF-WAY IN 1 ORDER TO WIDEN AND EXThND CERTAIN STREETS IN THE CITY OF CLEARWATER CONSTRUCTION OF A MUNICIPAL POLICE HEAD- QUARTERS AND SAIL ON CITY-OWNED PROPERTY IMPROVEMENTS ` TO MUNICIPAL LIBRARY BUILDING INCLUDING AN ADDITION TO a?"a!" ` ''# ?r SAID BUILDING, CONSTRUCTION OF A HRANCH LIBRARY ON CITY- :,= r 5 OS4NED PROPERTY, CONSTRUCTION OF r A MEMORIAL CIVIC CENTER o4 .,? , Y;,n {:• :.,,. : r., t : _?:. tsr4Yf?:kK^. ' ?,' ON PROPERTY OWNED BY THE CITY OF CLEARWATER LOCATED ON is• M' ?k"ir CLEARWATER BEACH CONSTRUCTION OF RECREATIONAL FACILITIES ?.u'hi' r tryJ a' l;? -`!"?*';!Yr ??s? I ; ;;;'.,'s.':.! ;,uyi?tw.t E, •` ON CITY-OWNED TWENTY ACRE TRACT INCLUDING RETIREMENT OF VIE EXISTING MORTGAGE JOINT PARTICIPATION IN COST OF CON- STRUCTION OF BRIDGE FROM MAINLAND TO CLEARWATER MEMORIAL LF?'? ;t?'C4" s CAUSEWAY, JOINT PARTICIPATION WITH STATE ROAD DEPARTMENT AND COUNTY HIGHWAY DEPARTMENT FOR WIDENING AND EXTENDING ?•.cG?rt?'•. ?????.?• ???'. MYRTLE AVENUE NORTH AND SOUTH, RECAPTURING CAPITAL IM- PROVEMENT COSTS OF CITY OF CLEARWATER FROM THE YEAR 1954 t ??;?f:,??.'? ?j • ?? s,..•?;???,. TO DATE HEREOF, INCLUDING THE FOLLOWING: INSTALLATION OF WATER AND SEWER MAINS AT GREENWOOD HOUSING, CONSTRUCTION OF STORM SEWER ON PALM BLUFF STREET CONSTRUCTION OF SWIMMING POOL AND BATH HOUSE, CONSTRUCTION OF BEACH GROINS, CONSTRUCTION OF STORM SMlERS AT PALMETTO, GREENWOOD AND ' -1 c!"f?i`>::fv f14?t 3324r:.X4`t'iE: MISSOURI CONSTRUCTION OF SEWER LINE ON MYRTLE AVENUE FROM ?Ya ; DREW TO MAPLE, CONSTRUCTION OF STORM SEWER ON BAYMONT STREET, RECONSTRUCTION AND REHABILITATION OF MUNICIPAL r :'•:,f st;?; AUDITORIUM, CONSTRUCTION OF A NEW FIRE SUB-STATION ACQUI- ' f{ i SITION OF VARIOUS PARCELS OF LAND/ INCLUDING THE BACON , PROPERTY AND BUILDING BEHIND THE CENTRAL LIBRARY,AND THE PLUMB PROPERTY (CEMETERY) : PROVIDING THAT THIS ORDINANCE t` {{ SK&LL CONSTITUTE A CONTRACT WITH CERTIFICATE HOLDERS qga ME DEFINING THE TERMS HEREOF, DIRECTING THE CITY MANAGER TO ,MAKE SAID IMPROVEMENTS, DESCRIBING SAID CERTIFICATES AND =..Y• ' AUTHORIZING PROPER EXECUTION THEREOF, PROVIDING THAT SAID ;.` tat„ .., r. ,+ • ?•,?, '? ? - g CERTIFICATES SHALL NOT CONSTITUTE AN INDEBTEDNESS OF THE a {•. •?' ,., ?`•? k. x`y?s:•.,• CITY BUT SHALL BE PAYABLE SOLELY FROM PROCEEDS OF UTILITIES =+?cfyY'` ?'l?.r rt i y •• y}j1Y. f•3Ski :k SS.'34 '' '• 5 W . SERVICES TAXES PROVIDING FOR THE PLEDGE AND PAYMENT INTO ,• _ ? : ' ;'J A TRUST ACCOUNT OF SAID UTILITIES SERVICES TAXES TO SECURE THE PAYMENT OF SAID CERTIFICATES, PROVIDING FOR THE TERMS ;? ?5 ? t?{'? ?' ,• ? „ {{ ,' ?rte' r w:,' I OF SAID TRUST ACCOUNT AND PROVIDING CONDITIONS UNDER WHICH`', , SAID PROCEEDS MAY BE RELEASED FROM SAID TRUST ACCOUNT, PRO- ' VIDING FOR THE CONTINUATION OF ORDINANCE NO. 811 (UTILITIES ' w ' :' ' •4 . SERVICES TAX) OF THE CITY OF CLEARWATER UNTIL SAID CERTIFI- C=. 3f: RE PAID IN FULL, PROVIDING TERMS UNDER WHICH THE CI P• ' '` ' .y TY MAY ISSUE ADDITIONAL OBLIGATIONS PAYABLE PARI PASSUv ,111 ' FF •}5^• .x, t. .14." / {{{{`?`,? FROM THE PROCEEDS OF SAID UTILITIES SERVICES TAXES PRO- = ,,,,, • I -R t'„# .r 1°t VIDING FOR THE APPLICATION OF SAID CERTIFICATE PROCEEDS, :_ PROVIDING THE TERMS UNDER WHICH THIS ORDINANCE MAY BE ,??• MODIFIED CR :':MENDED, PROVIDING FOR THE RIGHTS AND REMEDIES' • 4', ' OF HOLDERS OF SAID CERTIFICATES PLEDGIt1G CERTAIN UTILITY f'* SERVICES TAXES TO THE PAYMENT OF SAID CERTIFICATES, AUTHOR- ,. IZING THE TERMS EXECUTION, REGISTRATION, ISSUANCE AND REDEMPTION OF SAID CERTIFICATES, AUTHORIZING THE REPLACEMENT t s? OF LOST CERTIFICATES, PROVIDING FORM OF CERTIFICATES AND COUPONS PROVIDING FORM OF VALIDATION CERTIFICATES, PRO- 5 VIDING APPLICATIONT OF FUNDS AND SECURITY FOR INVESTMENT OF SAID PROCEEDS, PROVIDING FOR ENFORCEMENT OF COLLECTIONS OF SAID TAXES, PROVIDING THAT CITY BE REQUIRED TO MAINTAIN t• Ord. 875 5r'1.f.4G',`.11`?l?•;• ?h:.[[?:L f?;`fjt jJ!'= ,'??" ' -1- ;I 1 .la .. fi i r ` ' -e ' , "y a ? ? i l ? ?•+ !'Y F•. `?V'F 'f!?/t'rn? kl • lf ?• y Y:.' ` r' i '5?.??? . . .. ??:S.l k •G?' 'z:'?s ?: 11 :?f4? 3-'„ts?t.Cy',;N:?i` ' ?'S ?? ? y ? .ii. c .1 S ST .; ? BOOKS AND RECORDS AND ALLOW INSPECTION THEREOF RELATING TO SAID PROCEEDS AND DISBURSEMENTS OF UTILITIES SERVICES TAXES PROVIDING FOR THE SEVERABILITY OF THIS ORDINANCE, AND PROVIDING FOR THE unCTIVE DATE-OF THIS ORDINANCE", AND AUTHORIZING THE ISSUANCE OF $840 000 UTILITIES TAX IMPROVEMENT CERTIFICATES, SERIES OF 1960. ' BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF CLEARWATER, FLORIDA: ARTICLE 1 STATUTORY AUTHORITY, FINDINGS AND DEFINITIONS Section 1. AUTHORITY FOR ISIS ORDINANCE. This ordinance is adopted pursuant to the provisions of Chapter 9710, Laws of Florida, Acts of 1923, as amended and supplemented, being the Charter of the City of Clearwater, and other applicable provisions of law, and pursuant to Section 16 of an ordinance entitled: "AN ORDINANCE AUTHORIZING AND PRO- VIDING FOR THE ISSUANCE OF $31260,000 UTILITIES TAX IMPROVEMENT CERTI- FICATES OF THE CITY OF CLEARWATER FOR THE PURPOSE OF FINANCING THE COST OF CONSTRUCTION AND ACQUISITION OF VARIOUS MUNICIPAL IMPROVEMENTS, IN- CLUDING CONSTRUCTION AND ADDITIONPL FACILITIES TO THE EXISTING MUNICIPAL GAS UTILITY SYSTEM TO PROVIDE NATURAL GAS, ACQUISITION OF RIGHTS-OF-WAY IN ORDER TO WIDEN AND EXTEND CERTAIN STREETS IN THE CITY OF CLEARWATER, CONSTRUCTION OF A MUNICIPAL POLICE HEADQUARTERS AND JAIL ON CITY-OWNED PROPERTY, IMPROVEMENTS TO MUNICIPAL LIBRARY BUILDING INCLUDING AN ADDI- TION TO SAID BUILDING, CONSTRUCTION OF A BRANCH LIBRARY ON CITY-OWNED PROPERTY, CONSTRUCTION OF A MEMORIAL CIVIC CENTER ON PROPERTY OWNED BY THE CITY OF CLEARWATER LOCATED ON CLEARWATER BEACH, CONSTRUCTION OF RECREATIONAL FACILITIES ON CITY-OWNED TWENTY ACRE TRACT INCLUDING RE- TIREMENT OF EXISTING MORTGAGE, JOINT PARTICIPATION IN COST OF CONSTRUC- TION OF BRIDGE FROM MAINLAND TO CLEARWATER MEMORIAL CAUSEWAY, JOINT PARTICIPATION WITH STATE ROAD DEPARTMENT AND COUNTY HIGHWAY DEPARTMENT FOR WIDENING AND EXTENDING MYRTLE AVENUE NORTH AND SOUTH, RECAPTURING CAPITAL'IMPROVEMENT COSTS OF CITY OF CLEARWATER FROM THE YEAR 1954 - 2 - Ord, 876 --2= it y??????f-?.f`5.1 ?{'? , •. rr???J, ?J «'t, ;?.yAi Ile, /.Y7. i if 1 t?.r1_.y....t,? ?1:fir?r?if'?Yw ?r"'t•,,.tx,,yi 1341 V P •i ? .. . spy... <_r ,.. ., A.`:?.,a t ?s S +,e op • ?,ar{a ,, TO DATE HEREOF, INCLUDING THE FOLLOWING; INSTALLATION OF WATER AND SEWER MAINS AT GREENWOOD HOUSING, CONSTRUCTION OF STORM SEWER ON PALM BLUFF STREET, CONSTRUCTION OF SWIMMING POOL AND BATH HOUSE, CONSTRUC- TION OF BEACH GROINS, CONSTRUCTION OF STORM SEWERS AT PALMETTO, GREENWOOD AND MISSOURI, CONSTRUCTION OF SEWER LINE ON MYRTLE AVENUE FROM DREW TO MAPLE, CONSTRUCTION OF STORM SEWER ON BAYMONT STREET, RECONSTRUCTION AND REHABILITATION OF MUNICIPAL AUDITORIUM, CONSTRUCTION OF A NEW FIRE SUB-STATION, ACQUISITION OF VARIOUS PARCELS OF LAND, INCLUDING THE BACON PROPERTY AND BUILDING BEHIND THE CENTRAL LIBRARY, AND THE PLUMB PROPERTY (CEMETERY): PROVIDING THAT THIS ORDINANCE SHALL CONSTITUTE A CONTRACT WITH CERTIFICATE HOLDERS, DEFINING THE TERMS HEREOF, DIRECTING THE CITY MANAGER TO MAKE SAID IMPROVEMENTS, DESCRIBING SAID CERTIFICATES AND AUTHORIZING PROPER EXECUTION THEREOF, PROVIDING THAT SAID CERTIFICATES SHALL NOT CONSTITUTE AN INDEBTEDNESS OF THE CITY BUT SHALL BE PAYABLE SOLELY FROM PROCEEDS OF UTILITIES SERVICES TAXES, PROVIDING FOR THE PLEDGE AND PAYMENT INTO A TRUST ACCOUNT OF'SAID UTILITIES SERVICES TAXES TO SECURE THE PAYMENT OF SAID CERTIFICATES, PROVIDING FOR THE TERMS OF SAID TRUST ACCOUNT AND PROVIDING CONDITIONS UNDER WHICH SAID PROCEEDS MAY BE RELEASED FROM SAID TRUST ACCOUNT, PROVIDING FOR THE CONTINUATION OF ORDINANCE NO. 811 (UTILITIES SERVICES TAX) OF THE CITY OF CLEARWATER UNTIL SAID CERTIFICATES ARE PAID IN FULL, PROVIDING TERMS UNDER WHICH THE CITY MAY ISSUE ADDITIONAL OBLIGATIONS PAYABLE PART PASSU FROM THE PROCEEDS OF SAID UTILITIES SERVICES TAXES, PROVIDING FOR THE APPLICATION OF SAID CERTIFICATE PROCEEDS, PROVIDING THE TERMS UNDER WHICH THIS ORDINANCE MAY BE MODIFIED OR AMENDED, PROVIDING FOR THE RIGHTS AND REMEDIES OF HOLDERS OF SAID CERTIFICATES, PLEDGING CER- TAIN UTILITY SERVICES TAXES TO THE PAYMENT OF SAID CERTIFICATES, AUTHORIZING THE TERMS, EXECUTION, REGISTRATION, ISSUANCE AND REDEMP- TION OF SAID CERTIFICATES, AUTHORIZING THE REPLACEMENT OF LOST CERTI- FICATES, PROVIDING FORM OF CERTIFICATES AND COUPONS, PROVIDING FORM OF VALIDATION CERTIFICATES, PROVIDING APPLICATION OF FUNDS AND SECURITY FOR INVESTMENT.OF SAID PROCEEDS, PROVIDING FOR ENFORCEMENT OF COLLEC- 4 1 -3- Ord . 875 w ?y.l, ?'1f ?`+rr 3•Y-e?y •rC. `,teak.--ji- .y?.: ` ?. , Y r?S???``?v?'?;;?}7siC?'7rH K.•??,.f?}?1?-,????l.,Y ri r?,.?:.3i''}:''•?..' ,??, ?`?+'•'i.- ':s eh' •'ty.- •,.? ;,fit.' ? ., -3- /.5.6 - r ORDINANCE," heretofore enacted by the City Commission of the City of Clearwater, Florida, on the 25th day of May, 1959, (hereinafter re- ferred to as "Original Ordinance"), and is supplemental to said Original Ordinance. It is hereby found and determined as follows: (A) That conditions existing in the City of Clearwater re- quire for the preservation of the public peace, health, property, safety and welfare of the citizens and inhabitants thereof the immediate acqui- sition, construction and completion of the following improvements and betterments (herein called "Municipal Improvements"): (1) The acquisition of rights-of-way for and the improvement of certain streets in the more congested areas of the City by the widening and extension thereof, all substantially in accordance with the preliminary estimates now on file in the office of the City Clerk. (2) Improvements for the control of erosion on Clearwater Beach, including the construction of seven groins and one groin pier together with incidental appurtenances, in accordance with plans and specifications on file with the City Clerk. (3) Construction of warehouses and barns substantially in ac- cordance with plans and specifications on file with the City Clerk for stor- age and housing of municipally owned vehicles and materials, including the cost of acquisition of any necessary -real property for such purposes. (4) Dredging by the United States Government-for widening, deep- ening, extending and improving Little Pass Channel in Clearwater Hay, 48% of the estimated cost of which improvement will be provided by the City, all substantially in accordance with the preliminary estimates now on file in the office of the City Clerk. :r r. -4- Ord. 876 .. .- '? ?k.,'?:,y'ct}iL'?.7.-yn.?:a„tl+n?E•-• ?; •i i**'n::;:??t t.i:, , .. , ... -.E-.r'- - ? -;;--.i.-v7?- •yR,}' :fir: t Y ?' ' • a G (B) That pursuant to Chapter 22829, Lawn of Florida, Acts of 1945, are amended, the City Commission did by Ordinance No. 811, enacted February 16, 1959, levy utilities services taxes on each and every purchase in said City of electricity, metered or bottled gas (natural or manufactured), water service and local telephone service in the manner provided in said statute; that said utilities services taxes are not pledged or encumbered in any manner and that no obligations of any kind are chargeable against said utilities services taxes, or any part thereof, except as follows% The City has heretofore issued its Utilities Tax Improve- ment Certificates, dated June 1, 1959, now outstanding in the principal amount of $3,260,000, maturing in numerical order on December 1 of each year in the years 1962 to 1989, inclusive (herein called "Outstanding 1959 Certificates"), which by their terms are payable from and secured by a lien upon and pledge of utilities services taxes, in the manner provided in the Original Ordinance. (C) That said Original Ordinance in Section 16 thereof provides for the issuance of pari passu additional Certificates under the terms, limitations and conditions therein. (D) That the average annual Utilities Services Taxes collected for the twenty-four (24) months immediately preceding the date of adoption of this ordinance were $497,877.35 . (E) That the Certificates authorized to be issued pursuant to this ordinance shall be on a parity with and rank equally as to lien on and source and security for payment from the Utilities Services Taxes and in all other respects, with said Outstanding 1959 Certificates. (F) That the City is authorized to issue the Certificates authorized herein as pari passu additional certificates within the authorization contained in Section 16 of said Original Ordinance. Ord. 876 - 5 -5- 14 .5 l4' 1 1 C] ¦: Q (G) That the Utilities Services Taxes pledged hereunder will be sufficient to pay all of the principal of and interest on the $8400,000.00 Utilities Tax Improvement Certificates, Series of 1960, authorized by this ordinance and said outstanding 1959 Certificates, authorized by said Original Ordinance as the same shall become due, and all reserve, sinking fund or other payments provided for herein, and in said 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 pursuant to this ordinance, or to make any of the reserve, sinking fund or other payments provided in this ordinance, and that the Certificates issued pursuant to this ordinance shall not constitute a lien upon any of the properties of said Municipal Imlirovements or upon any other property whatsoever of or in the City. Section 2. ORDINANCE TO CONSTITUTE CONTRACT. In considera- tion of the acceptance of the Certificates authorized to be issued here- under by those who shall hold the same from time to time, this ordinance and the Original Ordinance shall be fleeted to be and shall constitute a contract between the City 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 holders of any and all of said Outstanding 1959 Certificates 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 others thereof except as expressly pro- vided therein and herein. Section 3. DEFINITIONS. That all the definitions contained in the Original Ordinance, in addition to the definitions contained herein, shall apply fully to the Certificates issued hereunder. - 6 - W.",ri.'yr,-: SSA., e ".t •f:?.??;? )St .E'? `., .r .. e 1?? 7.^.!yflY+!MM?'?L!?:+?tixY:t?'1rRrt? 'r'. r ... .. -i. -^•..... s i, ?-'* -6- x s 1 °•lYJitaa•'31Ct+4ia+L[•+?rsiK.e, rq r.' - ' fi , srY.Sj'w Im ARTICLE II AUTHORIZATION OF IMPROVEMENTS f Section 4. That there is hereby authorized the construc- tion, acquisition and completion of the Municipal Improvements set forth in Section 1'(A) hereof, and other purposes necessary, appurtenant or incidental thereto, in accordance with plans and specifications therefor approved by this City Commission, at an estimated cost to the City of $840,000. Such cost shall be deemed to include the cost of the construction and acquisition of said Municipal Improvements including the acquisition of any lands or interest therein or any other properties deemed necessary or convenient therefor; interest upon the Utilities Tax Improvement Certificates, Series of 1960, issued pursuant to this ordinance,from December 11 1960 to and includ- ing June 30, 1961, computed at a rate of not exceeding four and one- half per centum (4 1/21.) per annum, engineering and legal expenses, expenses for estimates of costs and of tax revenues, expenses for plans, specifications and surveys, expenses for fiscal or financial advisors, administrative expenses relating solely to such municipal improvements, and such other expenses as may be necessary or inciden- tal to the financing authorized by this ordinance, and the construction and acquisition of the Municipal Improvements authorized by this ordinance. - 7 - fo? Ord. a7& -7.. ?4'+its[i•'i11; ?I`a,f'`` .; SS' ;4''L •?•.1 ? ?. ? ? ? / V?? e. . . ?. ?-.,S,?F_...^:% '?`7??5KTM,. ` fix: 6?; ?':7°di,: i•'r,•i,? - ?_ °:;+,s:?:iti'-rr:'.r :•?±?52s:f??n,7 srrriz:``f'f?F'; •i;?' '7? i+., re: , ry '?' •'k4.,-•-? C"' - .,"° 'i4 , L!., i.. . s' .s-S?? .... f: .ar;..._ ?. t ? tlsY v' w5.. _ `?1. v, Y p6 .?'. Te '1 a'? ;et:' ?r 1•: ??,h'.^ ?l?,i' - s•%c. -li 5• i?Crv ??' 0. ••I`_ '?5'• ?? i? ~•? ?1? r M'. ..., . ARTICLE III AUTHORIZATION, TERMS AND FORM OF CERTIFICATES. Section S. AUTHORIZATION OF CERTIFICATES. Subjact and pursuant to the provisions of this ordinance and the Original Ordi- nance obligations of the City of Clearwater, Florida, to be known as "Utilities Tax Improvement Certificates, Series of 1960", are hereby authorized to be issued in the aggregate principal amount of not ex•• ceeding Eight Hundred Forty Thousand Dollars ($8401000), for the purpose of financing the cost of the Municipal Improvements as pro- vided in this ordinance. Section 6. DESCRIPTION OF CERTIFICATES, The Certificates shall be dated December 1, 19601 shall be in the denomination of $11000 each; shall be numbered from 1 to 840, inclusive, shall bear interest at a rate or rates not exceeding the legal rate, to be determined on the sale thereof, payable semi-annually on June 1, and December 1 of each year, and shall mature serially in numerical order on December 1 of each year, in the years and amounts as follows: Year Amount Year Amount 1962 $15,000 1977 $25;000 1963 15;000 1978 301000 1964 15;000 1979 30;000 1965 15;000 1980 30;000 1966 15;000 1981 30;000 1967 15,000 1982 30;000 1968 15;000 1983 35;000 1969 20;000 1984 35;000 1970 20;000 1985 40;000 1971 201000 1986 40;000 1972 25;000 1987 40,000 1973 25;000 1988 45,000 1974 25;000 1989 50;000 1975 25;000 1990 90,000 1976 25,000 The Certificates maturing in the years 1962 to 1974, in- clusive, shall not be redeemable prior to their respective stated dates of maturity. The Certificates maturing in the years 1975 to 1990, inclusive, shall be redeemable prior to maturity, at the option of the City, on June 1, 1974, or on any interest payment date there- after prior to maturity, as a whole, or in part in inverse numerical order of maturity and by lot within a maturity, at a redemption - 8 - Ord. 876 .1 a .. i , . ? ILI, . }•,ii ' i '? .r• .t?. .?l". N .. , ,??.t ?? ?` ^,•lri ? 3 ?' •..... ; . i .. ??frS ?, ?? '" it ,?+ f ,} r i 71?'3rAt"....•'YW b?- T K n?a w» 1'J'__` _. _ - _ .? ..1_. _. .? _ ????i?___? _._??.__ '` u „ 4LY' a -?. ? Y ?f 1 4 ID 1? ¦? 1?) Yx?= Y r? µ price of par and accrued interest to data of redemption, plus the follow- ing premiums if redeemed in the following years. 3 % in 1974 2 3/4 % in 1975 2 1/2 % in 1976 2 1/4 % in 1977 2 % in 1978 1 3/4 % in 1979 1 1/2 % in 1980 1 114 % in 1981 1 % in 1982 3/4 % in 1983 1/2 % in 1984 1/4 % in 1985 without premium in 1986 and thereafter. A notice of such redemption shall be published by the City at least once at least thirty (30) days prior to the date of redemption in a financial 'paper published in the City of New York. Interest shall cease to accrue on any Certificates duly called for prior redemption after the redemption date, provided that payment thereof has been duly provided for. Said Certificates shall be issued in coupon form, shall be payable with respect to both principal and interest at the principal office of The Chase Manhattan Hank, New York City, New York, in lawful money of the United States of America, and shall bear interest from their date, payable in accordance with and upon surrender of the appurtenant interest coupons as they severally mature. Section 7. EXECUTION OF CERTIFICATES AND COUPONS. Said Certificates shall be executed in the name of the City by the City Clerk, and City Manager and countersigned by the Mayor-Commissioner and shall have impressed, imprinted or reproduced thereon, the corporate seal of the City or a facsimile thereof, and said Certificates shall be approved as to form and correctness by the City Attorney. The facsimile signatures of said City Clerk, City Manager, Mayor-Commissioner and City Attorney, may be imprinted or reproduced on said Certificates, provided that either the City Clerk, City Manager or Mayor-Commissioner shall manually apply his - 9 - Ord. 876 4 ?+iXt r ??i?`v?l i'i r' ..`' `Lf e. itk ?p ..• .,^ t?.' SS ?:?•"?} .4: Y ?; .• /`fi'r , i;'' S' t? i - 2 111' .. l`F?.Yw'? ?.Mt {i!? 1?'M ? '4 'f ?L •? 1'r"n. r 3 •{ -• ?? .... 1r?? 3 signature on said Cortificates. In case any one or mote of the officers who shall have signed or scaled any of the Certificates shall ooase to be such officer of the City before the Certificates so signed and seeded shall have boon actually sold and delivered, such Certifieatos may never- theless be sold and delivered as herein provided and may be issued as if the person who signed or sealed such Certificates had not ceased to hold such office. Any Certificate may be signed and sealed on behalf of the City by such person as at the actual time of the execution of such Certi- ficate shall hold the proper office in the City, although at the date of such Certificate such person may not have held such office or may not have been so authorized. The coupons to be attached to the Certificates shall be authenticated with the facsimile signatures of the present or any future Mayor-Commissioner, City Manager and City 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 Clerk at any time on or after the date of the Certificates, notwithstanding that he may have ceased to be such officer at the time when such Certificates shall be actually sold and delivered. Section 8. 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. - 10 - Ord. 876 'f i4. i's..i'i. a'.?. r"'f.• . ?'•?y3'k;l?F?> it`d'€'1?,es:'?kS ??''h?.•' I ?.:`rs>ite??ir?'?.ia??L.tiSMrr°s• a 5M ,, M . 4? r.. . ?s^j of r'-.'•;?ta • 4.r• .• ??.':('= X1:1. •?..,- '4' ? ':?•, , „.i elf ??"]?4'r' i:.s?F`_; F?`•'r:?j?' a f4T?t, fi ???vh.*I'19?s Y•S Y'? 1•?F'?? 7`:?"?'fa -. - ?l ?`??-,` s; 1. s'i?,i?;y.. r. .;. + r,. ,, ? ?• ? , 114!!MI t fe7rr? rwr u r wi= ti., ... , /I'V e: No. UNITED STATES OF AMERICA $10000 STATE OF FLORIDA COUNTY OF PINELLAS CITY OF CLEARWATER UTILITIES TAX IMPROVEMENT CERTIFICATE, SERIES OF 1960 u 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 1st day of December, 19 from the special funds here- inafter mentioned, the principal sum of ONE THOUSAND DOLLARS ($1,000) with interest thereon at the rate of per centum ( %) per annum, payable semi-annually on the lst day of June and the 1st day of December in each year upon the presentation and surrender 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 Manhattan Bank, New York City, New York. The Certificates of the issue of which this Certificate is one maturing in the years 1962 to 1974, inclusive, are not redeemable prior to maturity. The Certificates maturing in the years 1975 to 1990, inclu- sive, are redeemable prior to maturity at the option of the City on June 1, 19741 or on any interest payment date thereafter prior to maturity, as a whole or in part, in inverse numerical order of maturity and by lot within a maturity, at a redemption price of par and accrued interest to the date of redemption plus the following premiums if redeemed in the following years: 3 % in 1.974 2 3/4 % in 1975 2 1/2 % in 1976 2 1/4 % in 1977 2 % in 1976 1 3/4 % in 1979 1 1/2 % in 1980 1 1/4 % in 1981 1 % in 1962 3/4 % in 1983 1/2 % in 1984 1/4 % in 1985 without premium in 1986 and thereafter. - 11 - Ord. 876 Y - 1?„'}`tis'?r* `'8"-n_?`r f •- , ^?--• :h?,?? > ? :i34: •^,. - - .?r?r?. n T- - .. - ? , n.: - - - rc•>= °•;r?•s?• }S'`i;itFU 1- wo:•;.? f:n}s: e,'?;'-5*""t1i•,'7 ? [ R"X ? ••?.a •_1?1YFir' jLlf •? i.i .? #? • ? • .. ?I. ? aiLw?. ? •? ., ' F` 4 I• a 1?!!'1.7!f?+4'IfP'97YV:'l?'{'17f.71•?•i ."W-_e. w-x ?c h.: •.Y'?W-c_ti'____ i n , A notice of redemption shall be published by the City at I t` ? least once domption in at least thirty 30) days prior to the date of xe a financial paper published in the City of New York, Now York. K% This Certificate is one of an authorized issuo of Certi- ?• ficates in principal amount of $80,000 of like date, tenor the aggregate 'and effect, except as to number (interest rate) and date of maturity, issued 2mm to finance the cost of the acquisition, construction and completion of car- tain Municipal. Improvements in the City of Clearwater, under the authority of .and in full compliance with the Constitution and Statutes of the State of Florida, including Chapter 9710, Laws of Florida, Acts of 1923, as amendod, and other applicable statutes, and ordinances duly enacted by the City Commis- sion of said City and is subject to all the terms and conditions of said ordinances. This Certificate and the coupons appertaining hereto are payable solely from and secured by a lien on and pledge of the proceeds of utilities services taxes collected by the City in the manner provided in the ordinance authorizing this issue of Certificates and does not constitute an indebtedness of the City within the meaning of any constitutional, statutory or charter provision or limitation, and it is expressly agreed by the holder of this Certificate 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 ,?,r rtificates. It is further agreed between the City of Clearwater and the 'folder of this Certificate that this Certificate and the obligation evidenced .-hereby shall not constitute a charge, lien or encumbrance, legal or equit- table, upon the aforesaid municipal improvements, or any part thereof, or on any other property of or in the City of Clearwater, but shall constitute a lien only on said utilities services taxes in the manner provided in the ordinance authorizing the issuance thereof. - 12 - Ord. 876 .°i 'l? `. ?18??` 4 ti_ ,?%., "t,•1`?1`. S?f'? - ? . e't '. ?. Yi?It k?si1'•'^y'' '' • ?1. . E ?' . ? r ?rf..,,. i° ' i ? . i .1.• 111. 1 . ? . : , ?. f Inn 3 Ell ':*e{?'.?'a•-'Y?"'. A?.•; '''?d. ?;? ` , •?'? +`°? .' E.?'X''-.•"'., ...',• _, Y"'ss''^F??p'wy.. .: °? ` .=b A • i; 1:., r.,; ? 'P':;?:: u,•.:.. xiF'??:'.'a ?k' f_• P =;' ?T'I'z<a' ";f'• tit f µ c L' t 2?R •i..& Y., f ? 4 a? N? ??l . e. ! .?Y L°?,ri?V "tie ? :. ???'?,?•?rr?• ..ar ..: ? ; • • y a?Lc't +#r" scT<;i l4i:??t.;µ .:h;an4 0 't •F' a A s ?4,. .f ...?''4>-r`e,is f.: ti.,r ?:} i n.+?4:A ,?' `t e ' .a {r i.'1<x?>?;= ?Lt, r„r*?.?'°??wr„A'•1, :1= r'??''°• •°'?,`? 3''`: ,,?-?.:?.`"y'T=; `: FX;.;??.?'?? t?' .?`D ??:r:? w`. .i ?S. i .i :i rc_r:s=i1?:?,i,_ •.f..,. t'?C. `?3. i- 'Y '?~ ? Y, l?.-1^:C: E.:. ?'.? • a?l 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 proceeds of the utilities services taxes collected 1 ' by the City, and in all other respects, with outstanding Certificates of an original. issue of Utilities Tax Improvement Certificates, in the prin- cipal amount of $3,260,000, dated June 1, 1959, and any pari passu addi- tional obli;ations hereafter issued under the terms, limitations and con- ;:;:;.•.-?:','i;,; ;: :': + ditions contained in the ordinance authorizing the issuance of said Utilities Tax Improvement Certificates dated June 1 1959. ?x`?"``??M`'?""'*?"?y"??m?``"•'?e'??{°'"?' i..jj', ?'?Y7 ??rr}?}ka`1C It is hereby certified and recited that all F{ acts, conditions ?_?.vy=? 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 .a F performed in regular and due form and time as required by the Laws and e Constitution of the State of Florida applicable thereto, and that the is- nuance of this Certificate, and of the issue of Certificates of which this Certificate is one, does not violate any constitutional, statutory or char- F ter limitation or provision. This Certificate, and the coupons appertaining thereto, is; and t F' t has all the qualities and incidents of, a negotiable instrument underthe law merchant and the Negotiable Instruments Law of the State of Florida, and the original holder and each successive holder of this Certificate, or of the coupons appertaining thereto, shall be conclusively deemed by his acceptance thereof to have agreed that this Certificate and the coupons t `•i appertaining thereto shall be and have all the qualities and incidents of negotiable instruments under the law merchant and the Negotiable In- struments Law of the State of Florida. The original holder and each suc- cessive holder of this Certificate and of the coupons appertaining hereto, r.•r { shall be conclusively deemed to have agreed and consented to the following terms and conditions. (a) Title to this Certificate, unless registered as herein pro- vided, and to the annexed interest coupons, may be transferred by delivery in the manner provided for negotiable instruments payable to bearer in the law merchant; and the Negotiable Instruments Law of the State of Florida. (b) Any person in possession 'of this Certificate, unless regis- tered as herein provided, or of the interest coupons hereunto appertaining -13? Ord. 876 { 2. Fa• F AwaRi. y .A.. .`!'`2."? '."' .. . Y? ':r r 1 ' ~ ..?f.?.?: - t.".?'trt`i#=':? .°`h•., t.ar•:..?;5 •.F7?.Si. t! .S • , _ • '!5 ;:?`tr,tr' •ta+ ii ';,.: R?•i: rj r?` "r ?r a a , ? ' + -: •: °?P. 1 j?«Fk1 '4 -?.F??11,','• `>'ya S.?'.,. F ??a!.?51?'S'TSF(( ? ??i??a?} :. r 1 n .. al`,'I^'. {{ $ K .? " 'l b .k. e • ?• ' : ?° , YSy ?f ]t; .r <? 3 .. • ^ ?r S t ?? r. ? dsK'rY'!f",T!/e.ti.tY•.kan 1l+i.S'-=wr s• k-r ? •• - "'?• ?..? ? w .. ..` _ _ -.,.__ .. - ... - ... ___? ..._ .?-__- . _. _ __.?..?.?..-f.s.?... r.? - - - ? -- _- Nip t .+N ????,.???`J• ,+'?'15?.?,?r?f??h.v,.?s^?,i"?`.4k5'fq'.4{,'1-:•,+yat'--??tly^?.. }??t. Y'- -_ -,?, 7 ?: ! •?. u., '?is.,',`xr'4t ,:,;?i'. , i.`i?:°`••c ry y,i'yxr??" h i ,r?, .?•:; q P i,' 3: i I s rl regardless of the manner in which he shall have acquired possession, is {?1??,}4f•; ,:,)ruby authorized to represent himself as the absolute owner hereof, and f ' ~',.5+..:,_•.°, •'r is hereby granted power to transfer absolute title hereto by delivery hi-3raof to a bona fide purchaser, that is to an one who shall purchase the same for- value (present or antecedent) without notice or prior defenses r? )} r jj)r ty,;; or equities or claims of ownership enforceable against his transferror; every prior t aker or owner of this Certificate unless registered as herein provided, and of the annexed interest coupons, waives and renounces all of ygrt; his ecuities and rights herein i n favor of every such bans fide purchaser, and every such bona fide purchaser shall acquire absolute title hereto _' ' •' }; ` •r ' Y •i"" ` ` and to all rights represented hereby; and . F , , ' •; r v. Jx • is '?f t 0 ' (c) The City of Clearwaternay treat the bearer of this Certifi- cate, unless registered as herein provided, or of the interest coupons ' hereunto appertaining, as the absolute owner hereof for all purposes with- out being affected by any notice to the contrary.i A This Certificate may be registered as to principal only, or as to :k r both principal and interest, in accordance with the provisions endorsed r? a ? r ?.?. ' i •LF hereon. IN WITNESS WHEREOF, said City of Clearwater, Florida, has issued this Certificate and has caused the same to be executed by the manual or facsimile signatures of its City Clerk and City manager and countersigned by the manual or facsimile signature of its Mayor-Commissioner, and ap- proved as to form and correctness by the City Attorney by his manual or facsimile signature and its corporate seal, or a facsimile thereof, to be affixed hereto, or imprinted hereon and has caused the interest coupons hereto attached to be executed with the facsimile signatures of said City Clerk, City Manager and Mayor-Commissioner, all as of the first day of December, 1960 CITY OF CLEARWATER, FL OHI DA Countersigned: ayor- ommissloner Approved as to form and correctness: City Attorney Ord. 876 's i5 •k ?:a •?'?.?•?Ca By: City Clerk By: City Manager 'Ile ? - - T ' i 4'. 5 "?i'? X5,3• .y? F • 1 y, f; No, FORM OF COUPON L 1Yy t On the 1st day of , 19 _, the City of Clearwater, 4W Florida, will pay to the bearer at the principal office of The Chase Man- , hattan Bank, New York City, New York, from the special funds described in • F the Certificate 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 interest then due on its Utilities Tax Im- provement Certificate, Series of 1960 dated December 1, 1960, No. CITY OF CLEARWATER, FLORIDA By: City C er By: Myanager By. Mayor- ommissioner (To be inserted in coupons maturing after Certificates are callable) "Unless the Certificate to which this coupon is attached shall have been duly called for prior redemption and payment thereof duly pro- vided for." VALIDATION CERTIFICATE This Certificate is one of a series of Certificates which were validated and confirmed by decree of the Circuit Court of the Sixth Judi- cial Circuit of Florida, in and for Pinellas County, rendered on the day of , 1960. CITY OF CLEARWATER, FLORIDA By I Mayor- ommissioner Ord.. $7'6 71? ,r By: City Clerk By: ity Manager I -15- i ? 1s 11 17 t t? e 1Cyr : t ?, ? ? Ef*?? 'a3? ri «??? { . r f ,cq v'?. i 2;: y I a J;, =! ;r•;'y ?,, 4 .'}%b. .517 - ?. ''-• ..•.. =? _. ,?;, •. ..} fs.?:1 ''S, •Y,. }'r??s. rRa ,,? ? ?`?(. ^'. •5:'f?r?, '?? ?w'.?1J hr '' ?:"r •?. y°-C'i? "'r=,. R i ? f ?, f; ••; }x4. ee ttt t, k R ' b 1I ? ? ?? ??. lf? f? , ??S?.j.•?? Y^`S.lY ?pR .h '1'y •?? V .T 3° +•?? y }'f a? :? ?k1?a???r, i"i'rfri R'n •" ?';? ??; ;.., s j?,.,,?'+..?; i7t• ?se' xx y , ,lc S: . ?, f wa=!?ls5ev'? `,, i?' . ?. .t'?z s, d:r.,j:,"=?:..t,?? P,,!'..'?:.y!•i??t???."t°„4.?,`}?,?yzl'?.t?'?,h+ef "Ii'i' cr?!' . '? (PROVISION FOR REGISTRATION). 4'e?', :,', •- { • <°,•7 Via,: , i This Certificate may be registered in the name of the holder on ` the books to belept by the City Treasurer, as Registrar, or such other "in istrar 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 :,.,'','y'j` by being transferred to bearer after which it shall be transferable by delivery but it may be again registered as before. The registration of = f,• "„-- ?? '• this Certificate as to principal shall not restrain the negotiability of the coupons by delivery merely but the coupons may be surrendered and the ?.r. interest made payable only to the registered holder, in which event the 3 Registrar shall note in the registration blank below that this Certificate is registered as to interest as well as principal and thereafter the inter- est will be remitted by mail to the registered holder. With the consent of the holder and of the City of Clearwater, this Certificate, when con- verted into a Certificate registered as to both principal and interest, ' may be reconverted into a coupon Certificate and again converted into a ? ' R hA Certificate registered as to both principal and interest as hereinabove provided. Upon reconversion of this Certificate; when registered as to . S' l principal and interest, into a coupon Certificate, coupons representin g '. ? the interest to accrue upon the Certificate to date of maturity shall be ' ;. attached hereto by the Registrar and the Registrar shall note in the reg- istration blank below whether the Certificate is registered as to prin- • s cipal only or Payable to bearer. ,?,s; s? Date of In Whose Name Manner of Signature of Re istration Registered Registration Registrar ` { F' • is t i' S _16- , Ord. $76 1 Al 3+ r „ ,},o<.p .•. as°' ,i's 3•. .a: .. "" .a,• ... R:,'. .+"a yst;f% s t ?:' f : y 's ? •• i ? ' a .,' {''?r::, 3' .k4. yi } ?:`?, i- j • fi •.t? :. i4:1 • : . f ?1 { + ? tfri, .??i :d,.,1: • :F"ia' of .'?.•[fl ??4N. :.f a'` ' ' .. - .y" Y?- r,WF•'- - - - ?....rwfwti.ra arti..e?rr ,.? .. ?....... s •..., .._ .. -?.. ?.. _ . ? _ . .. _ .. ? _ __ ..._. -__ _-?_........?....._. ... .. . YS M'.t?`?i.-t???????•J?:4'e.5...oeJs.. .: ?i?«.r .?1'??'?`--'- - rd.. •.j'•.>%?i?';; :,. i?'. .>1.?•i'a?4 s'e?:r'.Y RN.i??'?'.". .!"-v. :E , ARTICLE IV SECURITY OF CERTIFICATES ?.YC,u • y ? ?% 'r Section 9. CERTIFICATES ON PARITY WITH $3,260,000 UTILITIES TAX IMPROV04ENT CERTIFICATES, DATER JUNE 12 1959. The Certificates issued pur- suant to this ordinance shall be on a parity and rank equally, as to lien on and source and security for payment from the Utilities Services Taxes and in 'all other respects, with the outstanding $3,260,000 Utilities Tax Improve- ment Certificates, dated June 1, 1959, issued pursuant to said Original Or- dinance, and any pari passu additional obligations hereafter issued pursuant to and within the terms, limitations and conditions contained in Section 16 of said Original Ordinance. Section 10. 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 supplemental) as fully and to the same extent as the $3,260,000 Utilities Tax Improvement Certificates, dated June 1, 1959, originally issued pursuant to said Origi- nal Ordinance, and all of the covenants and agreements contained in said Original Ordinance shall be deemed to have been made for the benefit of the holders of the Certificates issued pursuant to this ordinance, and the holders of any p ari passu additional obligations hereafter issued within the terms, limitations and conditions contained in Section 16 of said Or- !.ginal Ordinance, as fully and to the same extent as f or the holders of said outstanding $3,260,000 Utilities Tax Improvement Certificates, dated June 1, 1959. All of the covenants, agreements and provisions of said Original Ordinance (except as to details inconsistent with this ordinance) shall be deemed to be part of this ordinance to the same extent as if incorpo- rated verbatim herein, and shall be fully enforceable in the manner pro- vided in said Original Ordinance by any of the holders of the Certificates , issued pursuant to this ordinance. The Trust Account, the Certificate Service Account and the Ger- tificate Reserve Account, created and established pursuant to said Origi- nal Ordinance shall be continued andmmintained as provided in said Original Ordinance as long as any of the Certificatesissued pursuant to this ordi- nance or interest thereon, are outstanding and unpaid. -17- Ord.. 876• ---- ------ 'f• .. i w iii •, 40 M 1 w: ipTt!r`E:ii".r`.i?,•rrIr}.1";?r'r.iFi}rlijatL,'!*j`T'Ci,(? r?! ?y r .f. 3 :fir' .;i??` 4• ? Beginning June 1, 1961 payments into the Certificate Service Ac- ??;:_'.;? _ ,,.• count shall be increased by the amounts necessary and required for the Certificates issued pursuant to this ordinance. The payments required to be made into the Certificate Reserve .?:. ..ccount, pursuant to said Original Ordinance, to and including November :> ?,?.. '„• 1, 1961, shall be made as provided in said Original Ordinancet Beginning "'`. :..'::.• with December 1, 1961, and on the lst day of each month thereafter, the City shall, from the moneys remaining on deposit in said Trust Account ?°?';s, `• ?x??,?a?.,;:??? .?• apportion, set apart and deposit in said Certificate R eserve i.ecount an ????=Nay'???:-???`????`?`???'a?::-•;:'•?? ? ..:gyp ?E•r syA°:^.?:.F?`l?'•.? k' ?v?? •?,?r.,. p c`R ?", -d amount equal to one-tenth (1/10) of all amounts required to be paid into"??? ?'??? ' rti?jls'•t '?r•} 3?; • } ri•; ?'•LI"w IZI, the Certificate Service Account on said dates for maturing principal of s, ' A? and interest on the Outstanding 1959 Certificates, the Certificates is- { sued pursuant to this Ordinance, and any pari passu additional obligations 11110?1'Certificate ? hereafter issued pursuant to and under the terms, limitations and condi- tions contained in Section 16 of the Original Ordinance; provided, how- ever, that no further payments shall be required to be inade into said Reserve .ccount when there shall have been deposited therein MUMMEMMORK, and so long as there shall remain on deposit therein an amount equal to 110% of the largest aggregate amount which will be required for the pay- ment of maturing principal of and interest on the Outstanding 1959 Certi- ficates, the Certificates authorized herein, and any pari pa'ssu additional obligations hereafter issued pursuant to and under the terms; limitations and conditions contained in Section 16 of the Original Ordinance, in any succeeding fiscal year. No preference, priority or distinction of any kind shall exist or be exer- cised in payments from said Certificate Service .ccount or the Certificate Reserve :.ecount between said Outstanding 1959 Certificates, and the Certi- ficates issued pursuant to this ordinance, and any pari passu additional obligations hereafter issued pursuant to the terms, limitations and condi- tions contained in said Original Ordinance. t 41 ... ', .. Ord. 876 -18- d •! q x'? ``tip l• .t' + . ..yyZ? Fr;.?' 7?j:t'1 a,. ,,.5'•? :'k ?P. :,:?. CS ??r 3? ??. s :rt ,'?: ?d .h"ter .2' .d fit`.. ;'S•: { •Ci r •?d s,.f?bY' ..'R'a•?'•4:',..^.i I.i.'tiI-f s.s ? ?i•, ?? ' p 'x'`??y`?'td??FCr.'°v y{;:4 ?,l ?? ?:c?'.Y"'r`.'•'s4;':i? ? , ' ' ' 'y:'?,-??a??r???lf?i?{?;'??:.?ir?i?''I n?:??y} j.. '.1+•' is{-•t•;';? ? q ?? .. , . ,i IR 3 . ??• .?' ..S .'t.y:•f l'T'S%?r^.',: ?,'1'i?, i?:."f:}?"•'4.'. `-.•-'7r.,`?ila 6 ds W ¦4r • 1.`.SS7M r at> ARTICLE V APPLICATION OF CERTIFICATE PROCEEDS Section 11. APPLICATION OF CERTIFICATE PROCEEDS. All moneys re- ceived from the sale of the Certificates to be issued under the provisions of this ordinance shall be disbursed and applied as hereinafter provided: (A) Accrued interest on the Certificates to the date of deliv- ery thereof shall be deposited in the Certificate Service Account. (B) (1) The sum of $22,050.00, representing interest becoming due on the Certificates from the date of the Certificates to and including June 30, 1961, computed at an interest rate of four and one-half per centum (4 1/2f) per annum, as provided in Section 4 hereof, shall be deposited in the Certificate Service Account, subject to following provisions of this subsection (B). (2) In the event the Certificates shall be sold to bear inter- est at a rate or rates exceeding four and one-half per centum (4 1/2%) per annum, the City covenants that it will, prior to the delivery of the Certificates, deposit into the Certificate Service Account, in addition to the amount required to be so deposited by paragraph (B) (1) above, from funds derived solely from the proceeds of Utilities Services Taxes, a sum equal to the difference between the amount of interest on the Cer- tificates which will actually mature and become due from the date of said Certificates to and including June 301 1961 computed at such higher rate or rates of interest and the amount required to be so deposited as above provided. (3) In the event the Certificates shall be sold to bear inter- est at a rate or rates lower than four and one--half per centum (4 1/2f) per annum, then such sum representing the actual amount of interest which will mature and become due on said Certificates from the date of said Certificates to and including June 301 1961, computed at such lower rate or rates of interest, shall be deposited in the Certificate Service Ac- count and an amount equal to the difference between such sum so required to be deposited in the Certificate Service Account to pay interest on the Certificates which will actually mature and become due from the date of said Certificates to and including June 30, 1961, computed at such lower rate or rates of interest,'and the amount set forth in paragraph (B) (1) Ord . 87'6 _19- 14 wit. 1 = 'sa d'1. ,y A ? ! «: -t a % 51, Fi^???f'?, t's?tY;'t:Rtnii{rn' ?KI?tSA•. { tM _ _<:?T?.. ?s:.?n_. .. r.. .?,?;r.'• _. <._.. n?5..-t... •?.?. ?4?., .et' .. _4..-..::kwc..?,., .iit?'rl _ 'N(?=A1'r4r'19s. ?Fi. ?.i T..??»: ._?. ?,>'iav_'St-;'? is I4M 14M I??k?L'71?:L?_I?Si1=?lufi i'V•.^S•Yta '•1' -:i t14,-Ytj;.?.+..-_' .ate-.,. •t!__- __.f ai`. L.?rGr.t.?w?"',L' _ __ i,. above shall be deposited in the Certificate Reserve Account. (C) The balance of the proceeds of sale of the Certificates shall be deposited by the City with a bank or trust company authorized to exor- cise trust growers and which is a member of the Federal Deposit Insurance Corporation, as Trustee, in a trust fund to be known as the %tConstruction ... Trust Fund," under a Construction Trust Fund Agreement to be hereafter ? authorized by the City Commission and to be entered into between the City and said bank. The balance of the proceeds of sale of the Certificates so deposited in said Construction Trust Fund shall be used and applied to the j r p th t t f a i i i t i l i h 4 H ?n k ti Vy .. ,S ] 4. `A 9 S' y?• plymen o e cos s o cqu s t on, cons ruct on, and comp on of t et e Mu- nicipal Improvements herein authorized, and for legal and engineering ex- s? f:, • , penses, fees of fiscal or financial agents, and expenses in connection with • a r'h the issuance and sale of the Certificates. In so applying the moneys in the y.;.? Construction Trust Fund to thepa . emit of the costs of the acquisition, con-, struction and completion of the Municipal Improvements, the City shall not be bound by the estimates of cost of any project included in said Municipal Improvements but may use any moneys in said Construction Trust Fund to pay s the cost of any such project regardless of the estimated cost thereof. If _ j for any reason the moneys in the Construction Tryst Fund, or any part there- of, are not necessary for or are not applied to the purposes provided in this Ordinance, then such unapplied proceeds shall be deposited by the City, upon certification by the City Engineer that the Municipal Improve- ments have been completed and that such surplus proceeds are not needed for the purposes of the Construction Trust Fund, in the Certificate Re- J serve :.ccount and shall be used only for the purposes therein provided. x.11 such proceeds of the sale of the Certificates shall be and ` 7 IN ? ? :. !} constitute trust funds for the above purposes and there is hereby created ?? a lien upon such money, until so applied, in favor of the holders of the ` ..j ., Certificates. Such proceeds of the Certificates, pending their use in the ? manner in this ordinance provided, may be temporarily invested by the trus- tee of the Construction Trust Fund, upon direction from the City, in direct ? obligations of the United States of )?merica maturing not later than twelve (12) months after the making of such investment. J;• Ord. 876 -20- :z.#Yrji?iY yr '? ei ?i .. - ,.1• t. - 7 ,. ;,S,?x;' 1x1 ? ??%)??'»t',i,', 1 ••'A'?. ._S .. .. ? .'S .1.?? Y7'.Y'.f r'y+yy 'i•4f rs = '1 Yr ??5 ...:. ?^ _-____-.l._.__ ?._?5??_._? ____.....?.....-w....r.w???? - ti - ? - i?YF "4'?' ?y;r•r a .. ????? -ii 5? a.? { ::i .<.-?, r:. may.:.. .-.'»'_ r.:_. ..---":y?..:.i?...?_..a?f....r_Y?'.`:??1:.r?1:???:,.'v???'.v:.??.tixi:rrv'?.,4i:'_'.;?`J335•?:_x± i a 4 I,RTIGLE VI MISC ILANEOUS Section 12. MODIFICi.TION OR AMENDMENT. No material modification or =cndment of this ordinance or of sny resolution or ordinance amendatory 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 Certifi- cates then outstanding, provided, however, that no modification o r amend- ment shall permit a change in the maturity of such Certificates or a re- duction in the rate or interest thereon, or in the amount of the principal obligation or affecting the unconditional promise of the City to pay the principal of and interest on the Certificates as the same become due from said Utilities Services Taxes,`or reducing the percentages herein required for such modification or amendments, without the consent of the holders of i 1 e such Certificates. Section 13. SEVER,.BILITY OF INV;.LID 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 against public policy] or shall for any reason whatsoever be held invalid; then such covenants, agreements or provisions shall be null and void and shall be deemed.sepa- rable from the-remaining covenants, agreements or provisions; and in no way affect the validity of all the other provisions of this ordinance or of the Certificates or coupons issued thereunder. Section 14. ISSUANCE LND S;,LE OF CERTIFICATES. The $810,000 Certificates initially authorized to be issued pursuant to this ordinance shall be sold and issued in such manner and at such price or prices con- sistent with the provisions of this.o rdinance, as the City Commission shall hereafter determine. Section 15. V:.LID:.TION. That the City Attorney, be and he is 4 hereby authorized and directed to institute appropriate proceedings in the Circuit Court of the Sixth Judicial Circuit of Florida, in and for Pinellas County, Florida, for the validation of such Certificates, and the proper officers of the City are hereby authorized to verify on behalf of the City any pleadings in such proceedings. s Upon the validation of such Certificates pursuant to such pro- r ceedings, there shall be printed upon each Certificate prior to the deliv- -21- - Ord.. ,76 r r 'r?•rs sr.•--r . .s , • r . +?-k#r.±r.., r . R"' dl, • .CIA. .(r,. .?"'"' ••^ . .,?} .rt, i• k? r. }'3,+.7,'6°. A'' •:'ti tn.'C? [}•4 s I.?Ea1"? .. ' i • .. '? F r A 4 M +a ;in . y 5•? t kt I r , '?f'•1?..}"_ ?, ' ' ery thereof' and over the facsimile signatures of the Mayor-Commissioner, ? City Manager and City Clerk, a Validation Certificate in the form herein- above set forth. Section 16. EFFECTIVE DATE. That it is hereby found, declared rind determined that the f unds to pay the cost of the acquisition and con- struction of the Municipal Improvements authorized herein are necessary " ''a. .wl ;;,::'•: and urgently needed for the preservation of the health, safety and wel- 14 r w. : fare of the citizens and inhabitants of the City of Clearwater; that an tr'??-' k•'?', r. '°?` emergencyis. hereby declared and that this ordinance shall be in full force and effect immediately upon its passage as provided by law. PASSED ON FIRST REEDING October 10, 1960 r P;?SSED ON SECOND REALDING October 10, 1960 PJ,SSED ON THIRD LND FINJI October 10, 1960 READING AND ADOPTED Attest: City er .r. Otd., 876 1 #7 Y4 t"'I i' ?tt;d. '4 •r?'i;' ..'?•`•"' ' ?=ti` ... -t .,?. •f4 ?- ?. r-?;?,"_ - _:.J,!!",'_ _-ii?`;r.wi s•i.?.-n?;? ?aSrtS??';'S:L'?{?. e? ?it ?????;;,, ?"+Zf,v yf..15Y „}:` ?'!.s' .s+}? '.1'' ?. .r. .n•. .i..y '.r??' ?' 'F 5? ?.t ?'. ,,? f. i,•._ '!s`'1''..^??_,3.{,. :.%F `}.fir. .?r, °.?atr' ,, e. :" ? ? ?•? ?f_ 'r 't. ?}(`? r?5_'1' a?''??i?:Cr'. ETA 3rlk ,1`r ti: • .;??,i.}. r..?'? . ?i??•4rf'f. 'r5;' r ?i. ''?.5.' . ? C: ?R;;. ;i;4 - i??' .7>-??e-.., ,.? V4N,Trt? ?e3 e rs 1 i ) I i 11 I f- . • , .` r ;i': 4 S ' _ f .'S ` t • .aFt ' T' Wit' ': •4 i "A.?',p'),,. i9i'a'?'.)S ISit•-,Js 4,-, v7,;,!,. %'?vr= , . } F; l : 2ef'Yi'EatY`. ...'i.,?fi':S:r:'• i,S{- `k :.r.: '.:}: ` jn _ '? -...y. ? w?'r.F. _ , ,'t j ,i I i`-z--t:,Jr.',,.! 'i'I ?)'. ^ '- t - . 1)t"" -- •:, ,," k ,.'. ;_ , :` ,? • f- , ` 4 I - .. ?I .....;.r • . The Clearwater Sun "I'd Cfaarwaterp Pinellas County, Florida . .. , . I '; x.. ..; •F. t.:'';• 'Fdzi ;r.; i'" :. °' 6: 1 :' 11 E ? I f C:. Cl .r } '( { . r .s' e•.Y° i y {. e + So -......, . _.1G.'G..A...r...a,a........._,,..-.+- --......... -=:ti:«ww'rw.>_1,r•,Mi..i?:aL .,'. r." :?:...k r . 5• .- i/ . .t OfI ae AR tl2 " i;r.. ? , . , , . , . ? , 1, ". . , , . , ? , , , , : . " - pr &QI II AN :t ' . . 1;' ORDIKANon N. ' a" , STATE OF FLORIDA AN aRDI"M4p MR, Not;" ?' AN tlRD1ANCSI ' COUNTY OF PINELLASI axbINAlto Atnri+?7116s?UANC11 . Pna.:::ene6?11SiLIIICK, TA%: -r 71 . before the undersigned outhotHy personally appeared W. Paul Ilatris, who on oath says that he Is the Business Manager of the Clearwater Bun, a daily newspaper published at Clearwater in Pinellas County, Ftoridat that the attached copy of advertisement, being a ...N.Q.GI.C,e..of.XznaaF,,e.A1...OrdlnwincA...... ......................r,..,...,...,...,.....,...................., In the matter of ...................... OR1)D- ANCL,.NO..,$7. fi...........,.....r............,.. in the... , .. !E*. •#'tF##'ll9f4fif. F'It#tFil **.*'11"i!•3fif*.**it .. Court, was published in , , said newspaper in the issues of .... , .OattObar. ,13.s ..1•.0(10 . . .............. . Afflant further says that the said Clearwater Sun Is a newspaper published at Clearwater, in said Pinellas County, Florida. and that the said newspaper has heretofore been continuously published In said Pinellas C ty, Florida, each day and has been entered as second class mail matter at the st 0 Ice in Clearwater, in said Pinellas County, !Florida, for a period of one year na pre ing the first publication of the attached copy of advertisement; and aftiant rthec? ¦ that he has neither paid not promlaed any person, firm or corporatio any see , rebate, commission or refund for the purpose of securing this adrervti or p Ilcatl0 I a sold newspaper. 4, L v,?? .4 irworn to and subscribed before me this,.a 4th .....day oof , Qat.obex.,.. A. r). is .6.0. (EA } Notary Public W' ' IWIVIO;l L. Ac"It ' "s?m?ug can?I INp eAtUU p tn.D Np( TION or , 3 r r ON CJITT4?N16D I )JI IIuCNTT)E0 or A ti sSraaE'![l1 ar'i ? pi R LOCI "• ON Or nVIA . CONNTRU07 IuTpIONNAn ,,; Tyq C` INOLUDINO r ,IGSTING MOIITOAOI IOIPATION IN'COIT DTTON'r as 111RXDOI LAND To C"ARWA' AL QAUNEWAT, JOT ATIOII ' WITH' eTAT R'ritl:NT'ANr1 O UIV DEPARTNE 1ND EXTEND NR xv ! NORTJI'ii 'AND"- SO uRwa ' `OAPITAI.r -3 c CO Cr' OITYi ?S1 tat" •T E-'MI I': malt V..". ?C, ?UD Koji O? ANT)' Elf D HOUSING: C . Or eTORx 1 rr. ITRICC_i'_CO... . , . ,5 .11 a.n...... AX;s VAI,1L10'TTt » WOOD"AND -IQesollllr?I TION 1 Or,, orw=, M `f TLL AYE MA'". COaT7lUCTIaIf RElls77 VO?TIONpAKND - .' , ITATION'.DT`HVr ITO AUDRT.?.IITJ i', '•I, I. yp]sMON o7 ; VARIOUI ,- . - dr LAND. INCLUDING" IBM ' ",,r ' .. ' - PItOPERTT AND.,'.,.i , , . , . IHND Toi ' 41. '::I_`; y . . .. AND''''.CNn. .PLTT11Il t: ICE]OStER ! ' PROVIL } r 'rills . aR? Ita+ ?vI? c1. ... - .. . - OA?TE HOLDFRM' DlRI ' ,r. ` ' Txnin IIEREO `,-r.,? . • CITY ' UANXI TO . IUPROVEYEMM Ut?riCl ;` .. . .. , • rADnIE1t Ta L 0M ' .. , , ,. axPROVIDING TeTHAT atu HAM NOT ' - ATt tNDd.11TEDNESN OI PATAI ' ISUT RHALL 80 I' :': -. - •- , . MOld PROCEEDa 01 ;,y < : _ . eERVICEN TX)IX.S.'PRC TISE PLEDGE AND P x .'; - , - UTILTTIGe -SERVICESr • • ' • TIITlTCRx Or BAIL ' ,COUNT AND RAOYII _ ' TIONN UNDER WIIICI t . ' , . . ' ' , CEEDe IIAT 1116 REL1 SAID' TO ?TIiL COJ!i'r1 N0. SIF r . :.. 1 , , " - ORDINA CIE s-- . NFRVrCEN TAXI OF ":' ,' - OLEARWATER UNTII _ TUnCATEY , ARE PA] PROVIDING TIGRNA U i THE CITY xAX'IANU6 . - OBLIGATIONS PATARI ' - t4 , SU rRON TILE P1=1 w ,, - . ' UTILTTII:e NLRVICICE , . VIDINO FOR THE " :' ~ , - ' ., ' . - ' . 1 - ? . Or NATO CERTIrICA1 s, ]''}. ' . . , PROVIDING TRIP. ''n ',i`' "?;? i l; ,? - WTLICli TLILe' ORIyLNI •.,• 't'. : " F "' i. . . - - . . ' ' - - MODIFIED Oh a -AI(1 :'r? • '. ' ..: , VIDING' rOR THE _.:'; fit: ,- , ' REIIEDIEY Or, HO Z . - _ . . - CERTITtCATE!!. `' TALK VTIIITT 0=111 .!. s ?'(:, _, .. 01V THE PATIIENT f ` _ • ' 'IMCATEtS; AUTIIC -''r: %i. t '.i;-' !; - '. TERMS, EXECSITIO! ;; ?.:' :` .7j:,-,A,. 'a. , - - TroN ISSUANCE A '?s< '': i<?''r'`jt, . L ':,:. .. TION " Or 'MAID t 3.' "a. • ;'I' .:e•. ? )• ,. - ORIZINO TITS J ' r.' ; ,- a-!, , AUTII a ; ,, Or LOST CERTlrt l,, ''y.: ..i' .. ,. - <ti''-, ~'P' :'r, TNO TORY OF CENT ^ S. PJAOVTDII I •'c. %t;':t' FI}`' COUPON ON CERTI; F' I APPL1CATI '.3` VIDINO . - 'r, s; .r;J,,:_ '?a. ,t^ .;YF,•'1rr AND fLCURITY.rat L,\!rr `'r, . -• ,',4's r7,, : ::s ;tii. _ . 0" Or lIAID pgOCEEL "I 1. I I '_ >rN -. { :. K, 4 FOR ENVOROL1[ 4 _': e + ' or •4*1D ?• ? t ?'s` .?i, :x`:Y?r':? <` ?:t`' AT CITY Big IN R0 qq 1. ''7, pp 'E!iA',,?i'' .' 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