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ORDINANCE NO. 1222
AN ORDINANCE SUPPLEMENTING AN ORDINANCE ENTITLED:
"AN ORDINANCE PROVIDING FOR THE CONSTRUCTION AND "
•? u _.s x,: ACQUISITION OF ADDITIONS, EXTENSIONS AND IMPROVE-
MENTS TO THE WATER AND SEWER SYSTEM 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 $12500000 UTILITY REVENUE CERTIFICATES;
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 CER-
TIFICATES; PROVIDING FOR THE COVENANTS AND OBLIGA-
TIONS OF THE CITY OF CLEARWATER UNDER SAID CERTIFI-
CATES; PROVIDING 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 AMEND-
MENT OF THIS ORDINANCE; PROVIDING FOR THE-SEVER-
ABILITY OF THE PROVISIONS HEREOF; PROVIDING FOR
THE ISSUANCE AND,SALE OF THE CERTIFICATES; PROVID-
ING FOR-THE VALIDATION OF SAID CERTIFICATES; PRO-
VIDING THAT THIS ORDINANCE IS AN EMERGENCY MEASURE3"
AND PROVIDING FOR REPEAT, OF ORDINANCES AND RESOLU-
TIONS IN"CONFLICT HEREWITH TO THE EXTENT OF THEIR
CONFLICT:" AND AUTHORIZING THE ISSUANCE OF
$3,2003000 UTILITY REVENUE CERTIFICATES, SERIES OF
196.9.
BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF
CLEARWATER, FLORIDA:
ARTICLE I
STATUTORY AUTHORITY, FINDINGS AND DEFINITIONS
€k ? t?
1.01. AUTHORITY OF THIS ORDINANCE. .This ordinance
is adopted pursuant to the provisions of Chapter 9710, Laws
Ord. #1222
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of Florida., Acts of 1923: and amendments thereof, and supple-
ments thereto, being the Charter of the City of Clearwater,
and other applicable provisions of law., and pursuant to Sec-
tion 3.04 (K) of an ordinance entitled: "AN ORDINANCE PRO-
VIDING FOR THE CONSTRUCTION AND ACQUISITION OF ADDITIONS, EX-
TENSIONS AND IMPROVEMENTS TO THE WATER AND SEWER SYSTEM 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
$1,5500,000 UTILITY REVENUE CERTIFICATES; PROVIDING FOR THEIR
MATURITY DATES; PROVIDING FOR THE EXECUTION, NEGOTIABILITY
AND REGISTRATION OF SAID CERTIFICATES; PROVIDING FOR REPLACE-
MENT 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; PROVIDING FOR THE ESTABLISHMENT OF THE
13TILITY SYSTEM REVENUE: FUND AND PROVIDING FOR THE OPERATION
AND MAINTENANCE THEREOF; PROVIDING FOR THE DISPOSITION OF
REVENUES FROM THE AFORESAID REVENUE FUND; LIMITING THE ADDI-
TIONAL OBLIGATIONS WHICH MAY BE ISSUED AGAINST THE SECURITY
PLEDGED FOR SAID CERTIFICATES; PROVIDING FOR REMEDIES OF CER-
TIFICATEHOLDERS; LIMITING MODIFICATION OR AMENDMENT OF THIS
ORDINANCE; PROVIDING FOR THE SEVERABILITY OF THE PROVISIONS
HEREOF; PROVIDING FOR THE ISSUANCE AND SALE OF THE CERTIFI-
CATES; PROVIDING FOR THE VALIDATION OF SAID CERTIFICATES;
PROVIDING THAT THIS ORDINANCE IS AN EMERGENCY MEASURE; AND
PROVIDING FOR REPEAL OF ORDINANCES AND RESOLUTIONS IN CON-
-2-
Ord. #1222
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FLICT-HSREWrTH TO THE EXTENT OF THEIR CONFLICT" enacted by
the City Commission of the City of Clearwater, Florida, on
the 16th day of Augusts 1955 (hereinafter referred to as
"Original Ordinance"), and is supplemental to said original
Ordinance.
1.02 FINDINGS AND MTEMINATIONS. 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 said City and its inhabitants
and other users, (hereinafter referred to as "System") and
that it is necessary and essential that said System be im-
proved and extended, as hereinafter provided, for the pro-
tection 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 System and said revenues are
not pledged or encumbered in any manner and that no obliga-
tions of any kind are chargeable against the revenues of
said System, or any part thereof except as follows:
The City has heretofore issued its Util-
ity Revenue Certificates, Series of 1955, dated August 11
1955, now outstanding in the principal amount of $ 952, 000
maturing in numerical order on August 1 of each year in the
years 1970 to 1985, inclusive, (herein'called "Outstanding
Ord. #1222 - 3-
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•1-_,_,' ?vj?i'F}.S•'d4?Yaia«.r.:j'rxiz'r..:•.,:;?r ,•n.:r,?'?N'?,}:"S?? j rR:w,t
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1955 Certificates"), its Utility Revenue Certificates, Ser-
ies of 1956, dated August 1, 1956, now outstanding in the
principal amount of $1, 50Z, 000 maturing in nwierical or-
der on August 1 of each year in the years 1970 to 1991, in-
clusive,•(herein called "Outstanding 1956 Certificates"),
its Utility Revenue Certificates, Series of 19591 dated
August 13 1959, now outstanding in the principal amount of
$585,000 maturing in numerical order on August 1 of each
year in the years 1970 to 1989s inclusive, (herein called
"Outstanding 1959 Certificates"), its Utility Revenue Cer-
tificates, Series of 1960, dated August 1, 19603 now out-
standing in the principal amount of $500,000 maturing in
numerical order on August 1 of each year in the years 1970
to 1990, inclusive, (herein calked "Outstanding 1960 Certi-
ficates"), its Utility Revenue Certificates, Series of 1962,
not outstanding in the principal amount of, $850, 000 matur-
ing in numerical order on August 1 of each year in the
years 1970 to 1984, inclusive, (herein called "Outstanding
1962 Certificates"), its Utility Revenue Certificates, Ser-
ies of 19643 dated August 1, 1964, now outstanding in the
principal amount of $860,000 maturing in numerical order
on August 1 of each year in the years 1970 to 1989, inclu-
sive:, (herein called "Outstanding 1964 Certificates"), its
Utility Revenue Certificates, Series of 1965, dated August
1, 1965, now outstanding in the principal amount of
$1,145,000 maturing in numerical order on August 1 of each
year in the years 1970 to 1990, inclusive, (herein called
"Outstanding 1965 Certificates"), and its Utility Revenue
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Ri
+'=` tf 4't 7???`•;'t?j,k.•?+? av .+j $?t'-$:4r:lf" t ,. '- .6 n'. ?k5'ys. ,,?:°:•; t?. }.. , .'?iT?,,..F! ?'• ?.
a R }S i an, 4,. i ti .i, a. ,.Q?.4 r,. s'? _[•r
f , '1R'f ;{ s, Z?.. .. .^,a :,?.'•;°,°? ' ?t • ;i; ?' .v •.•';"= ?r.:l t'•>.at ?
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u i t ? xl ? ? r:,l? .,'.?' s: '- , .. ,?tf',;'". zh' ,.: #": ?" b, , y i,.r'',? a ^ ?' ? •?ti:'ti+S:Cr:+'?Y?taartss?i::.r Y +ac'ss t.ss1. +:?aek:h ;}.s'1?'?e?r'Sr,:rsss".?+:r::?•c+?at*,??+ta_ •'?,'
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?? • ?r.t? Certificates, Series of 1967, dated August 1, 1967, now outY1 ?;? :. ' •.'._'.';e.
94
'''i't` `" •t'' standing in the principal amount of $1, 215? 00o , maturing
in numerical order on August 1 of each year in the ears
J ' ! PtY S4 ?. J ?,
?t.Y?444SEE?•'i R. ? •l?• ?' '?? .F .. ?f.:3'?Ci.-"' w' vrt'•'. e?',•.
1970 to 1990, inclusive (herein called outstanding 1967
'??;3;a? ' • *'" s47F?-? r} j}-?1J:'?y E •? "'az?- .a ?i? ? .+'' 7'+.S'r:"i+???i? i':?''.
;' j," .7^ rkr ed ?:r. r"..it.•t3'G`,A.:?,?rF??iir'ai:., t.<.:
??.?????,?;?,?..•,,,;?„?„?,,,;_,,:?;;, Certificates11,which by their terms are payable from and
secured by a lien upon and pledge of the revenues derived
from the operation of the aforesaid System
, in the manner
provided in the Original Ordinance, and in each of the ordi-
nances authorizing said Outstanding 1956 Certificates, said I
?', ?t rs Outstanding 1959 Certificates, said Outstanding 1960 Certi.-
,';,,:r} ficates, said Outstanding 1962 Certificates, said Outstand-
ing 1964 Certificates, said Outstanding 1965 Certificates
E?Y??t , ` '' ' -rs, and said Outstanding 1967 Certificates. r'
(C) That said original Ordinance, in Section z} t'
3.04 K thereof provides for the issuance of ari assn ad?- ??':?
ditional Certificates under the terms limitations and condi?-
tions provided therein.
,•K f PT' ' ? 2 nTa? j ,;
sr `} H fx?? (D) That the average a t' e : b
nnual Net Revenues of
the aforesaid System as such term is defined in the Ori
g., yy,tr"A "^J'v?+ •..,'_ r ]$
z ;?• w.;u inal Ordinance} during the preceding two 2 ears is $1,290,000, ..}>:• ' E That the Certificates ( ) authorized to be
N . '.art issued pursuant to this ordinance shall be on a parity with ;N.V
and rank equally as to lien on and source and security for
' payment from the net revenues of the System and in all other ? ??? ?? t ?'? F• '
,.r
°r± resPectss with said Outetanding 1955 Certificates., said Out
?? . .. .. .;:?{?' ? ?'??•
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standing 1956 Certificates, said Outstanding 1959 Certifi-
catess said Outstanding 1960 Certificates$ said Outstanding ?.?
1962 Certificates,'said Outstanding 1964 Certificates, said r`
Ord. #1222
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Outstanding 1965 Certificates, and said Outstanding 1967
Certificates. A21 of said Certificates now outstanding
are herein sometimes referred to collectively as "Outstand-
ing Certificates".
(F) That the City is authorized to issue
the Certificates authorized herein as pari passu addition-
al certificates within the authorization contained in See--
ti.on 3.04 (K) of the Original Ordinance.
(G) That the aforesaid System shall be im-
proved and extended substantially in accordance with the
plans and specifications 'prepared by Briley, Wild & Asso-
ciates, Consulting Engineers of Daytona Beach; Florida,
which said plans and specifications have heretofore been
1
filed in the office of the City Clerk, all at an estimated
cost of not exceeding $x,285,0003 including the proceeds of
the Certificates authorized herein and the estimated amount
of $1,085,000 to be received from grants for the construe-
tion or acquisition of extensions, improvements and better-
'
ments to said System, including but not limited to, force
mains, outfall, interceptor and lateral sewers, pumping stations,
treatment plants, water mains, welts., and other facilities
of said System, and including the acquisition of any lands
or interest therein and of any `fixtures or equipment or
properties deemed necessary or convenient therefor, inter-
est upon the Certificates issued pursuant to this ordinance
prior to, and during and for six months after the comple-
tion of such extensions, improvements and betterments, en-
Ord. #1222
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."r€?t? it ir, ?fj??d?}??? .. ss:`s..?F;?i?i,"?:'?:?'.. f.k,°•. ;, t.,`; ?.,.; ? :: S??,z?. 1.?..e {,rp7'?F?•;;?:\rir'?.Nt?fiS?'?`'x•_.,1
;Ya :i; x lf„ tf?• ,f Yrt„ i,Y'; , s.i r:. >_.. , A,% i„^ :*:•Z w7;'G ?? 11
gineering and legal expenses, expenses for fiscal or finan-
cial advisors, expenses for estimates of costs and of rev-
enues, expenses for plans, specifications and surveys, ad-
ministrative expenses and such other expenses as may be ne-
cessary or incidental to the financing authorized by this
ordinance.
(H) That the estimated revenues to be de-
rived from the operation of said System will be more than
sufficient to pay all operation and maintenance costs of
said System and to pay the principal of and interest on
the Certificates herein authorized and the principal of
and interest on all said Outstanding Certificates and all
sinking fund, reserve and other payments provided for in
this'ordinance, in each of the ordinances authorizing the
issuance of said Outstanding Certificates and in the Orig-
inal Ordinance, and that it will never be necessary'or au-
thorized 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 for in
this ordinance, and that the Certificates issued pursuant
to this ordinance shall not constitute a lien upon any part
of said System or upon any other property whatsoever of the
city.
1.03. ORDINANCES TO CONSTITUTE CONTRACT. In con-
. .. ...` ..
sideration of the acceptance,of the Certificates authorized
to be issued hereunder by those who shall hold the same from
time to time, this ordinance and the Original Ordinance
-Ord: #1222Q
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shall be deemed to be and shall constitute a contract be-
tween the City and such Certificateholdera, and the cove-
nants and agreements set forth to be performed by said
City 'shall be for the equal benefit, protection and secur-
ity of the legal holders of any and all of said Outstand-
ing Certificates and the Certificates issued hereunder,
and the coupons attached thereto, all of which shall be
of equal rank and without preference, priority or distinc-
tion of any of the certificates or coupons over any other
thereof, except as expressly provided therein and herein.
1.04 mpinmom. That all of the definitions
and terms dontained in the Original Ordinance shall have
the same meanings ascribed thereto in the Original Ordi-
nance and shall apply fully t o this ordinance and to the
Certificates issued hereunder.
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Ord r- • #1222
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ARTICLE 11 ?.
AUTHORIZATION OF CERTIFICATES
2.01. AUTHORIZATION OF CERTIFICATES. Subject and
pursuant to the provisions of this ordinance and the Origi-
nal Ordinance, obligations of the City of Clearwater, Flor-
Ida, to be known as "Utility Revenue Certificates, Series
of 1969", are hereby authorized to be issued in the aggre-
gate principal amount of not exceeding Three Million Two
Hundred Thousand Dollars ($3,200,000), for the purpose of
financing the cost of the improvements to the System as pro-
vided in Section 1.02 (fl') hereof.
.2.02. DESCRIPTION OF CERTIFICATES. The Certifi-
cates shall be dated August 1, 1969; shall be in the denomi-
nation of $5400 each, shall be numbered from 1 to 640, in-
clusive;:shall bear interest at a rate or rates, not exceed-
. - - ? - - •- ,
ing the legal rate, to be determined upon the sale thereof,
payable semi-annually on February 1 and. August 1 of each
year, and shall mature serially in numerical order, lowest
numbers first, on August 1 of each year, in the years and a-
mounts as follows:
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Ord #1222. ,
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L,ai1?.?i'iie'r?`:,1i.?'iu.`$?Irwr:':.4•??!.psi.'fkM4a+•?•.e..:.•::a?:a'.:.:r+tZ'?' tc'??3,?'?+s??3it?.IS??zki.
.• .'?.,•? f? tier.
,c,, f. "r f•.
.j '
Year Amount Year Amount
1971 65, 000 1982 120, 000
1972 70;000 1983 1252000
L :: µ• 5.,?, °,. ;;``'
97 5- 1984 1303'000
1 7 000 ?.r::_ °??:?:?y`J'<:? ':{ :; ?'.
197 80 000 1985 195; 000
1975 85;000 1986 205;000
1976 85000 1987 215;000
19 0? 3 000 1988 2 0; 000; ; { ? L.
7 ( 9 _4 I
19'7-`}},{ 1195000 1989 2;000
1979 105;000 1990 250;000
1980 105;000 x.991 260,000
1981 1103000 1992 265,000
Said Certificates shall be issued in coupon
r.
form, shall be payable with respect to both principal and in-
terest at the principal office of The Chase Manhattan Bank,
(National Association), New York City, New York, in lawful
money of the United States of America, and shall bear inter-
est from their date$ payable in accordance with and upon sur-
render of the appurtenant interest coupons as they severally
mature. }
The Certificates maturing in the years 1971 t.
to 1982, both inclusive, are not redeemable prior to their '
stated dates of maturity. The Certificates maturing in the
years 1983 to 1992, inclusive, shall be redeemable prior to
their respective stated dates of maturity, at the option of
the City, on August 1, 1982, or on any interest payment date '
a
thereafter, in whole or in part, but in inverse numerical
order if less than all, at par and accrued interest to the
date of redemption, plus the following,premiuns, expressed
as percentages of the par value thereof, if redeemed at the
following times: i'
Ord: #1222
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Four per centum (4%) in 1982; j l•.
Three and one-half per centuni ( 3 1/2%)
in 1983;
Three per centum (3%) in 1984;
Two and one-half per centum (2 1/2%) AI D ,'
in 1985
Two per centum (2%) in 1986; t ,n
.. y .s :e i 7
One and one-half per centum (1 1/2%) in ?i
1987; , . "^, 4
One per cent='(l%) in 1988 or there- •r
after prior to maturity. a
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. Interest
shall cease on any of the Certificates duly called for re-
demption, on the redemption date, if payment thereof is duly
provided for.
2.03. EXECUTION OF CERTIFICATES AND COUPONS.
Said Certificates shall be executed in the name of the City
by the City Clerk and its City Manager and countersigned by
the Mayor-Commissioner and shall have imprinted, impressed
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 fac-
simile signatures of said City Clerk, City Manager, Mayor-
Commissioner and City Attorney may be imprinted or reproduced
on said Certificates, provided that either said City Clerk,
City Manager or Mayor-Commissioner shall manually apply his
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Ord. #1222
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signature on said Certificates. In case any one or more of :.
the officers who shall have signed or sealed any of the Car- f.
ti.ficates shall cease to be such officer of the City before rs,tiF,'br4 4,Y:i:rr
r•.r ='
the Certificates so signed and sealed shall have been actual- :-
ly sold and delivered, such Certificates may nevertheless be
sold and delivered as herein provided and may be issued asr
person who signed or sealed such Certificates had not
if the
ceased to hold such office. Any Certificates may be signed
and sealed on behalf of the City by such person as at the
actual time of the execution of such Certificates shall hold
the proper office in the City, although at the date of such
Certificates such person may not have held such office or may
not have been so authorized.
The coupons to be attached to the Certifi-
cates shall be authenticated with the facsimile signatures r
df the present or any future Mayor-Commissioner, City Man-
, _ • ' ::
ager and City Clerk of said City, and the City. may adopt and, ;'.
F r
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 Certi-
ficates, notwithstanding that he may have ceased to be such a=ay `;
.. •r .? ? ? its'', ? ?. ,.. .
official at the time when said Certificates shall be sold'
and delivered. mt 'p3'
2.04. FORM OF CERTIFICATES AND COUPONS. The text
of the Certificates and coupons and provisions for registra-
tion shall be of substantially the following tenor, with such omissions, insertions and variations as may be neces-
sary and desirable and authorized or permitted by'this ordi-
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Ord. #1222
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nance or arty subsequent ordinance adopted prior to
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ance thereof, '
Said Certificat su_
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s shal], be
registerabls, re..
placeable and ne otiable in the
g. , . manner and
to the extent
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vided in the
Original Ordinance. p
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yj4? ';i ;.Ye•;?? Lea,'
No, UNITED STATES OF AMERICA $5,000 C' •.!' .Y
STATE OF FLORIDA
s',`'y:.::
COUNTY OF PINELLAS `C:'.•;
CITY OF CLEARWATER
UTILITY REVENM CERTIFICATE, SERIES OF 1969
KNOW ALL MEN BY THESE PRESENTS, that the City of
Clearwater in Pinellas County, Florida, for value received,
hereby promises to pay to the bearer or, if this Certificate
is registered, to the registered holder as herein pi}ovided,
on the first day of August, 19 , from the revenues herein-
after mentioned, the principal sum of
FIVE THOUSAND DOLLARS ($5,000)
with interest thereon at the rate of per
centum per annum, payable semi-annually on the first day of
February and the first day of August of each year, upon the
presentation and surrender of the annexed coupons as they
severally fall due. Both principal, and interest on this Cer-
tificate are payable at the principal office of The Chase
Manhattan Bank (National Association), New York City, New
York, in lawful money of the United States of America.
This Certificate is one of an authorized issue of
Certificate's in the aggregate principal amount of not exceed-
ing $3,200,000, of like date, tenor and effect, except as to
number and date of maturity, issued to finance the coat of
the acquisition and construction of various improvements and
extensions to the combined system of utility properties sup-
Ord. #1222
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t
Plying water and sewer services for the City of Clearwater,
under the authority of and in full compliance with the con-
s •
stitution 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 ordi-
nances.
The Certificates of the issue of which this Certi-
ficate is one: maturing in the years 1971 to 1982, both inclu-
sive, are not redeemable•prior to their respective stated
dates of'maturity. The Certificates of said issue maturing
in the years 1983 to 1992, both inclusive, are redeemable
prior to their respective stated dates of maturity, at the
option of the City,'on August 1, 1982, 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 ac-
crued interest to the date of redemption, plus the following
Premiums, expressed as percentages of the par value thereof,
if redeeried at the following dimes:
Four per centum (4%) 'in 1982;
Three and one-half per centum (3 1/2%)
in 1983;
Three per centum (3%) in 1984;
Two and-one-half per centum (2 1/26)
in 1985;
Two per centum (2%) in 1986;
One and - one-half per centum (1 1/2%)
in 1987;
-15-
Ord: #1222
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t r,4C •1l;pr:•f• ;;?`•rii yr ^,:fi {?'•:i `. 4:. s,: :i•v'i •.{..
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•:,Fk?' . ? }r.''•;:}? i'1 : i. .'i:. .. „ - .. . I ?w°., +1'i i ?4„ ? ??p ?t'. ?'TN.. ?„'?1, ? ..t
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" one per centum (1%)'in 1988 or thereafter
prior to maturity4{i/
?1,?3 }PU I?' f',5 • ' 1,• ?N?''? ~SC .'y •tp 1 ? ?'r •1
Q *;III,
Notice of such redemption shall be published at
j:`t4's:=F',' {r ??_-{
44'1.!Y .
least once at least thirty d s ric
r to the date of re-, t
A I., r, demption in a financial paper published in the City of New,,.,, a w,V
<'1 Yorki New York. Int a re st shall cease
on any of the Certi-
ficates duly called 'for redemption, on the redemption date,
if payment thereof has been duly provided for. F".
WN,
This Certificate and the coupons appertaining
?.
t
`yMTi 4 t '
o
L?• ,y hereto are payable solely From and secured by a lien upon
' and pledge of the net revenues derived from the. operation
'=•;N, s of the utility properties of the City supplying water and
41
sewer services in the manner provided in the ordinance au-
z: Y•F ' thorizing the issue of Certificates of which this Certifi-
cate is one, This Certificate does not constitute an in-
y.,s ? e r?Lay s.,i
t, debtedness of said City, within the meaning of any constitu- `
ti onal, statutory, or charter provision or limitation, and .•'
it is expressly agreed by the holders of this Certificate' ,.;
a and the coupons appertaining hereto that such holders shall ?y.
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 '..` '
,u of and interest on this Certificate, or the making of any
€ x ':, t
sinking fund, reserve, or other payments provided for in %A
the ordinance authorizing this issue 'of Certificates. It
is further reed between the Ci
ag ty'of Clearwater and the
holder of this Certificate that this Certificate and the f
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Ord. #1222
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obligation evidenced hereby shall not constitute alien 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 said utility properties supplying water and sew-
er services in the manner provided in said ordinance.
The Certificates of the issue of which this Certifi-
cate 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 oth-
er respects, with the outstanding certificates of an origi-
nal issue of $13500,000 Utility Revenue Certificates, Series
of 1955, dated August 1, 1955; with the outstanding certifi-
cates of an original issue of $2,000,000 Utility Revenue Cer-
tificates, Series of 1956, dated August 13 1956; with the out-
standing certificates of an original issue of $630000 Util-
ity Revenue Certificates, Series of 1959s dated August 1,
1959; with the outstanding certificates of an original issue
of $600,000 Utility Revenue Certificates, Series of x960= dat-
ed August 1, 196o; with the outstanding certificates of an
original issue of $1,100,000 Utility Revenue Certificates,
Series of 19621 dated August 1, 1962; with the outstanding
certificates of an original issue of $975000 Utility Revenue
Certificates, Series of 1964, dated August 1, 1964, with the
outstanding certificates of an original issue of $1,2501,000
Utility Revenue Certificates, Series of 1965s dated August
1, 19652 with the outstanding certificates of an original is-
Ord. #x.222
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sue of $1;250,000 Utility Revenue Certificates, Series of
1967, dated August 1, 1967, and any other pars passu certi-
ficates hereafter issued by the City payable from the net
revenues of said utility (properties under the terms,' limita-
•tions and conditions contained in the ordinances which au-
thorized the issuance of said $13500000 Utility Revenue
Certificates, Series of 1955; said $2,000,000 Utility Rev-
enue Certificates, Series of 1956; said $6303000 Utility
Revenue Certificates, Series of 1959; said $600,000 Util-
ity Revenue Certificates, Series of 1960; said $1,100,000
Utility Revenue: Certificates, Series of 1962, said $975,000
Utility Revenue Certificates, Series of 1964, said
$1, 250, 000 Utility Revenue Certificates, Series of 1965,
and said $1,2502000 Utility Revenue Certificates, Series of
1967.
The City, in said ordinance, has covenanted and
agreed with the holders of the 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 supply-
ing water and sewer services, and to revise the same from
time to time whenever necessary, as will always provide rev-
enues sufficient to pay the principal of and interest on the
Certificates of this issue, all reserve or sinking fund or
other payments provided for in said ordinance, the necessary
expenses of operating and maintaining said utility proper-
ties; and that such rates, fees, rentals or other charges
shall not be reduced so as to be insufficient to provide rev-
. -18-
Qrd. #1222
d L'f ir??•..{h??.r +'4 ?F'i-Tr':,{_.;- _ _ - _ - .. ? - _..z.?r--'--•7.?.r•.
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F.?'".y???Q 1twp??r.?;;?zy?{s"r.:.•"t?• ,,.,y-.p,,°•?.:'f,tzq?ii?,•" yt";??"-`t :T;;":??r°`•?"'?
y a < ?? , i ,y,?s, .rrt_? ??`,.a'et:='r,}, 1 y'iY• tz' e ?iY,`t''??, ?, r..'.
?? ?Y' -1 "? ?` {' ,?:. ?. i? `) ?l:rr\. ,.1`.,,• F , p.F -. •' ?. 4 ri 4.s?"'?Lts ,'S a.r<'s"?ii. r?r.?l-M
??µ? :ei;e] r?ry•.?,F; ?'>>s s--e: "•?'.q..]}i a .•1 ?5?,?`S-? ?j°'??{%?a y"?'rA:.?,tr'7??s,,a
•'4 1i.'_ .. .. yi• -' .. _ _ `.....rd's\f,Y?AfYY
enues for such purposes; and said City has entered into cer-
tain further covenants with the holders of the Certificates
of this issue for the terms of which reference is made to
said ordinance.
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 Certi-
ficate exist, have happened and have been performed in regu-
lar and due form and time as required by the Laws and Consti-
tution of the State of Florida applicable thereto, and that
the issuance of this Certificate, and of the issue of Certi-
ficates of which this Certificate is one, is in full compli-
ance with all constitutional, statutory or charter limitations
or provisions.
This Certificate, and the coupons appertaining here-
to, is and has all the qualities and incidents of a negotiable
instrument under the law merchant and the Uniform Commercial
Code-Investment Securities Law of the State of Florida, and
the original holder and each successive holder of this Certi-
ficate, or of the coupons appertaining hereto shall be con-
elusively deemed by his acceptance hereto to have agreed that
this certificate and the coupons appertaining hereto shall be
and have all the qualities and incidents of negotiable instru-
ments under the law merchant and the Uniform Commercial Code-
Investment Securities LMr of the State of Florida.. The origi-
nal holder and each successive holdi§r of this Certificate, and
of the coupons-appertaining hereto, shall be conclusively
Ord. ,{1222
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?+? ?•{'ry i L:•'?'; 1 -' ?: •-.?+: 45'a r'j.•?:.a'?f`p h.'•`?y4{'t ?? 1yt r,• iJ
'jrr+'n s : ; ??t >?? . r:? • - .J ?' , ta.. P•e<."? . ;"?lj•}`f,!"t94iy .FS.?,: t.' ?i'q}} e° : S
<;??15 t '? 1r"!? , °`-' ¢'' • .'si,',r? >t ?'' '?4•„f ? ? n ?'a????:?"+,:::i'r? 1+;`: ?}t??i
i'j". r't •• ; s s :5'-. :F,S?';; F?gr..,'.oi,fs'ii. tl' :;?'{'Y141,`j '?
`5.:=?r, s ? •I?.li' ' .. -:. •i-.. ,i' ra?3i.`?? Y'i?'.:•,;.?'}y" ?t.•. - i?
'Siey#?V• ,i49 ?..'3 ?V+:Sk'V1-' N." +st'l'a ki• ..f.l ,. y •r •. ?• ?1k.3'.`..? 91M?,' 'W+?iA?,'' ?, ??,>ri?l7y'I
?.NAlitlWlirMiaia?il??[A w1?:y:./.?W?:3 i3Mw:. i. ?...4..t'.'...t.:il.a,r.k?il?.,w•, JSlM1+Y V•NFWMYI?l?ldlu t'??
deemed to have agreed and consented to the following terms
and conditions:
.4
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,a
s? .???}?. air #s"? .5?'?•?s.
'1`•+S {'tt ??r;4ii.rrrs c4 .•r 1'{£.'.;:f
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,4 \'w'i;:: ?'fr!'••?'4tiSr?, da:nhs„'``t ', r.
(a) Title to this Certificate, unless regis-
tered as herein provided, and to the annexed interest cou-
pons may be transferred by delivery in the manner provided
for negotiable instruments payable to bearer in the law mer-
chant and in the Uniform Commercial Code-Investment Securi-
ties Law of the State of Florida.
(b) Any person in possession of this Certi-
ficate, unless registered as herein provided, or of the in-
terest coupons hereunto appertaining, regardless of the man-
ner in which he shall have acquired possession, is hereby au-
thorized to represent himself as the absolute owner hereof
and is hereby granted power to transfer absolute title here-
to by delivery hereof to a bona fide purchaser; that is, to
any one who shall purchase the same for value (present or
antecedent) without notice of prior defenses or equities or
claims of ownership enforceable against his transferor;
every prior taker or owner of this Certificate, unless regis-
tered as herein provided, and of the annexed interest cou-
pons, 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 absolute title hereto
and to all rights represented hereby; and
(c) The City' of Clearwater, Florida, may
treat the bearer of this Certificate, unless registered as
herein provided, or of the interest coupons hereunto apper-
taining, as the absolute owner hereof for all purposes with-
Ord. #x.222
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:°. dry}," .r'F:. ..7 `. .?' `a .' r.• tl ,.,+ a7
1
out 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.
IN WITNESS WIREOF, said City of Clearwater, Flor-
ida, 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' approved
as to form and correctness by the City Attorney by his man-
ual or facsimile signature and its corporate seal, or a fac-
simile thereof, to be affixed hereto or imprinted hereon,
and has caused the interest coupons hereto attached to be ex-
ecuted with the facsimile signatures of said City Clerk, City
Manager, and Mayor-Commissioner, all as of the first clay of
August, 1969.
CITY OF CLEARWATER, FLORIDA
Countersigned:
BY
My er
By. ?
City .
Manager
Mor- s s one r
Approved as to fornm and ,correctness:
n i
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-21-
Ord. . -#1222
P 19 77r-7,- 777 7, 777?1;
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CITY OF CLEARWATER, FLORIDA
By WE
City e r .
By
Y ager
Mayor- ss oner
.. .. ' ill; 1 'Ye?+
` ktk'1
(To appear only on coupons'on callable' Certificates. ,
"unless the 'Certificate to
which this coupon is at- Y?.•?
tached shall have been-duly called "for prior re-
demption and payment thereof duly provided for.")
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.
FORM OF CO
UPON t
` 1'•
No
.
On the first day of
? 19 a the City
?? `?`??' ?' ' '
•
of Clearwater, Florida, Will pay to the bearer, at the prin- ?:
cipaloffice of The Chase Manhattan Bank (National AsSocia-
tion), New York City, New Yorks in lawful money of the Unit--
ed States of America, from the revenues described in the
Certificate to which this coupon is attached, the sum of
Dollars :i
($ u
pon presentation and surrender of this cou-
pon, being six months' interest then due on its Utility Rev-
enue Certificate, Series of 1969, dated August 1, 1969'.
Ord: #1222
!y a u :5: .>f:?.- f:'9•t?, ^,p ?,f,f: l• i.. ire \r?
11,? "77
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.?, .Ck.r. .?,.?.r ,•?, .: i•'•???1?: ??1: ?'•t!.'. ??'tM .,` '.'x.i ;:r'::rE?"3=?',x. ??[,s.1w,i???5 '. ff,, ,}', .Ye r! i.-
i•e:. r W,ti????,14?1 ,wfy .4.>?>+.y.k e , r • ',r`?rf??: } ??« M1 u
.1
x
FORM OF VALIDATION CERTIFICATE
This Certificate is one of a series of Certificates ,Fsk;?`?*'?'>a'
which were validated and confirmed by judgment of the Circuit
Court of the Sixth Judicial Circuit of Florida, in and for Y
Pinellas County; rendered on the day of ,.;
1969. -?,
Y' 4
CITY OF CLEARWATER, FLORIDA
.a
DY
y er
B
My manager
Mayor- CERH ss oner
.
PROVISION FOR REGISTRATION i a.
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:, simb rngistration 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 author
ized and similarly" n ted.'in the' registration blank belows but
it may be' discharged from registration by being transferred`
to bearer; after which it' shall' be transferable by'delivery, ;
but it may' be again registered as before. The registration
of this Certificate as to- principal shall not restrain the1
negotiability of the coupons by delivery merely, but the cou-
pons may be surrendered and the interest made payable only
-23-
Ord.' J/1222 .
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S.t(".?,.^yy:.?l -c? 1 q'•i`fciii'k
ti.: ?', `;,t:?;'x??'," :?"i,'•s,F; ?e,.?.?*'"??`? ? .?`??.•,???{ k1•?r`''??•?*, •?y???''t• "'?t?:s:l'?".laN{?c? s ?' ,-:•:-:
y:_i; `i5'? •?.#y2'raR+,n+`S?r4?ja"• a ?} ?,•i ??'? r?•w., f:-b i;4^
A, A
;N .,- ;« tn1"?v:tx. Y t 5',?.?4. t`s'' z,,.,?,? ? .S•{ °:i,?'! ?-.'li?d:_
a•.CM1,I.?F7!?4
.T x. •..1 ?'7r ,{??._}• 1C74tay... ?•r? 1'? Sc•? (?, :S ?????:• L ?'Tn+.??N 'TH".Y??;..?,`, .. 'f i4 ??r; ,,,may
' t[.'.::i;'?:r??{? ezx) ?. <• ?;;? ?a4?asr_°e, r. ?' .,'??v . s?',y?Ci?-.r?: "•:?x•:z,?,
',G••' ,Lc,?:?J?•, ?!' ;s3?.?' .4 ?;r Y t ? a ti ti ?.. .,4+'G`"?•Y?• 4+5•{?.;."a
t^4' i ) t Cf rl? "Y? `? ,g 1" ? .°?c 3' tT^-^ `r
'.`?'• ,;;t 'P.<'.1,akL-:???y• ?",.?` ? h+" ?. ? '• ? 4t .- f Cs +?.'' r. '? r+iri??;h .(??? s, r(ct^?;t;,.
r1.?M1 .?•` r? p? ?S?T• M`?..f e n i{ ,?a• r K
I.?yS,?• r ?• 4 ? 1.1' 1 ANN ?a,
1 0• 0
to the registered holder, in which event the Registrar shall
note in the registration blank below that this Certificate
is registered as' to interest as well as principal, and there-
after the interest'-will be remitted by mail in Now York ex-
change 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 coupan'Certificate
and 'again converted into a Certific&te'regist6ked as to both
Principal and interest as hereinabove provided: 'Upon recon-
version of this Certificate, when registered as'to principal
and interest,' into a' coupon Certificate, coupons" represent-'
ing the interest to accrue upon the Certificate to date of me,-
turity shall be attached hereto by the Registrar'and the Reg-
istrar shall note in'the registration blank'bdlow whether the
Certificate is registered as to principal only or payable to
bearer.
DATE OF IN =WHOSE NAME MANNER OF SIGNATURE
REGISTRATION REGISTERED REGISTRATION OF REGISTRAR
1 11 •0,
yeps
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is
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i? -
t A = '"7?,?• ;?.?"'• ?1 ass •,
Ord: #1.222.
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15:f?1:h
.ir)t`'"'?t "'•`,+*' TS?iiyr ?,?:?. ;urt}?'N•S; ,: 9. fir: 1??
-24-
?7-7773!7, 7-7717.7.77`
17
Y,r?t )A•SrdL' I.??i 3?.`,L'P," ?: ? ME:ITiy (.?>-s .., y... • ..L 1'• ?i'? .'?`.:.5. .?:, y .?..w„+. •j:L;.????i it 4.. ?`S? '?.
?° 41a ? ""i';, , .,' ?. Y,4,.:.rj?.:.-'•?.• .'?. S'?•'?. 41?Ni3t`?'Sa
1? ?'. •?:Zi 4ti ?.? :`7?;`{T+.+,. •r ..'l,". E'•-••'S`:?, ,;, '". :_•_?^?, ?. ?t:.Si.•' 'fi.?t',„ „?': +?,?zX
f a
ARTICLE III
SECURITY OF CERTIFICATES
3.01. CERTIFICATES ON PARITY WITH OUTSTANDING UTIL-
.i.iN?Sf+ivcYe:. i1'1`.n$a'.:.egvr::Y?..^.:• 1
ITY REVENUE CERTIFICATES. The Certificates issued, pursuant
to this ordinance shall be, on a parity with and rank equally,
as to lien on and source and security for payment from the
Net Revenues of the System and in all other respects, with the
outstanding Utility Revenue Certificates, Series of 19551 dat-
ed August 1,'1955, issued pursuant to the Original Ordinance,
the outstanding Utility Revenue Certificates, Series of 1956,
dated August 1, 1956, issued pursuant to an ordinance supple-
mental to said Original Ordinance, the outstanding Utility Rev-
enue Certificates, Series of 1959, dated August 1, 1959, is-
sued pursuant to an ordinance supplemental to said Original
Ordinance, the outstanding Utility Revenue Certificates, Ser-
ies of 19603 dated August 1, 1960,'issued pursuant to an ordi-
nance supplemental to said Original Ordinance, the outstanding
Utility Revenue Certificates, Series of 1962, dated August 1,
1962, issued pursuant to an ordinance supplemental to said
Original Ordinance, the outstanding Utility Revenue Certifi-
cates, Series of 1964, dated August 1, 1964, issued pursuant
to an ordinance supplemental to said Original Ordinance, the
Outstanding Utility Revenue Certificates, Series of 1965, dated
August 1, 1965, issued pursuant to an ordinance supplemental
to said Original Ordinance, the outstanding Utility Revenue
Certificates, Series of 19670 dated August 1, 1967, issued
pursuant to an ordinance supplemental to said Original Ordinance,
'. Ord. #1222
iC?
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•
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,
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tea
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Sty yri{,,-( p "3n!?s7Ffi
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't:}'x ?Ir. 7r `s;.•?¢;Y t" .Y5?
V4.*,
k a??y{ t ??.p•.. e;t. ,';?#.15...x• ?,_'?` •.?.?}??{^'A. `.'''+""..?k. '''V,d' •<•,
'R;[.? j.•r?s`,.t.ilt;{Y3Sj4`.$:•',.s..7;rJ 1'.;6j4?'4:,.ae',',:,?j'??wF'''S.'?,a?"''•i, N'"??F «? 1
'{1?i'?r 4ts,'
'4a VS }a ?i: `~'ti•Y: r'2, i".
}
jib- 4?d 7 :gt• s ',: :? - _ `SAS <, 5 is fl',l' f? SS.?/',
? ?, ,r« .?,.i f ,,; l+l ?1. ,:5.?> r•1. ':??.?._;;, •?C?;?;;. ?'i•, : ??1??'??:.•I?r .?i
??. ?:.?, ( S.,}„•FII.'1'.'_ , K'.' 7 1 w ;.,? 1 . S F?1 ? F' q 'S j ??` ? ?
. r R
1 1' l F ? ;i:•? ' ? g'y
e 51: 1
and any pari passe additional obligations hereafter issued
pursuant to and within the terms, limitations and condi-
tions contained in Section 3.04 (K) of said Original Ordi-
nance.
3.02. CERTIFICATES SECURED BY ORIGINAL ORDINANCE.
The Certificates authorized by this ordinance shall be
deemed to have been issued pursuant to the Original Ordi-
nance (to which this ordinance is supplemented) as fully
and to the same extent as the Utility Revenue Certificates,
Series of 1955, dated August 1, 19551 originally1 issued pur-
suant to said Original Ordinance, and all of the covenants
and agreements 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, the,
holders of said-Outstanding 1956 Certificates, the holders
of said Outstanding 1959 Certificates, the-holders of said
Outstanding 1960 Certificates, the holders of said Outstand-
ing 1962 Certificates, the holders of said outstanding 1964
Certificates, the holders of said Outstanding 1965 Certifi-
cates, the holders of said 1967 Certificates, and the hold-
ers of any pars passe additional obligations hereafter is-
sued within the terms, limitations and conditions contained
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
1, 1955.
All of the covenants, agreements and provi-
t
-26-
Ord. IJ1222
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.il"t}i -•+ 1.r.? 1?M•r ?u •a•Iy 'fir ?' ? .• - >• .. .._ ._ _. l ?. i.
V13
YxS'.i1?yFT?MEU?f.a
• I ,Y Stf 'I '•F st •j'7',(
i'
-Vill
Y?sr?t.X4ly?kY?"<?i???i'1'•????'.w??:'i it
•>r1r???N
i
9i
.1
i ?
WM4?.yK , ,s,E.a ?•?`r•: "4• ;:5;`3."C'?'+'.?„'J?'.- ? r?,,. ?• <r'.ti, w,>.,?.f,{.? r^?..r"
e?$1 j? ,i ! s 4 V- ,a ta;%h) ?l ?{a..ySic Rd. 3
.,S'`p f SF. E b fi }? .. J. d.SPa,;:1(..4f 73?.I?%?r y'•L?
C7
i?
f
lions of said Original Ordinance (except as to details incon-
sistent with this ordinance) shall be deemed to be part of
this ordinance to the same extent as if incorporated verbatim
in this ordinance, and shall be fully enf.orceab;.e in the man-
ner provided in said Original Ordinance by any of the holders
of the Certificates issued pursuant to this ordinance.
The Revenue Fund, Sinking Fund, Reserve Ac-
count in said Sinking Funds and Renewal and Replacement Fund,
S
. ,1
1
G
?f '+r •
e9,??r S?',•}in'J,o
S irr'1
_41 4
created and established pursuant to the Original Ordinance
shall be continued and maintained as provided in the Original
Ordinance, in the supplemental ordinances which authorized
the issuance of said Outstanding Certificates and in this ordi-
nance as long as any of the Certificates issued pursuant to
this ordinance, or the interest thereon, are outstanding 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 or-
dinance, and no preference, priority or distinction of any
kind shall exist or be exercised in payments from said Sink-
. ..
ing Fund or the Reserve Account therein between said Outstand-
ing 1955 Certificates, said Outstanding 1956 Certificates,
said Outstanding 1959 Certificates, said Outstanding 1960 Cer-
tificates, said Outstanding 1962 Certificates, said Outstand-
ing 1964 Certificates, said Outstanding 1965 Certificates,
1 '
said Outstanding 1967 Certificates, the Certificates issued
pursuant to this ordinance, and any pari passu additional ob-
ligations hereafter issued'pursuant to the terms, limitations
and conditions contained in said Original Ordinance.
Ord. ,1222
77
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77
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3.03. INVESTMENT OF MONEYS'IN SINKING FUND. Moneys
held in the Sinking Fund may be invested upon direction of. the
City, in direct'obligations of the United States of America
which mature not later than January 25th or July 25th next suc-
ceeding the date of such investment; provided, however, that
such investments shall mature not later than the time when
moneys in the Sinking Fund are required for the purposes for
which said fund was created. All income or increment derived
by the City from the investment of moneys in the Sinking Fund
shall be deposited into the Reserve Account in said Sinking
Fund.
-28-
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ARTICLE N
-L`t??L:re?; w.av:k "?• w^
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APPLICA'T'ION OF CERTIFICATE PROCEEDS a
4.01. APPLICATION OF CERTIFICATE PROCEEDS. All
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moneys received from the sale of any or all of the Certifi-
cates authorized and issued pursuant to this ordinance
shall be disbursed and applied as follows:
(a) All accrued interest received upon
the delivery of the Certificates shall be deposited in the h
Sinking Fund established pursuant to the Original Ordinance. i
(b) The balance of the proceeds of sale
of the Certificated shall be deposited-by the City"in a
Construction Trust Fund Agreement to be authorized by reso-
lution of the City Commission and shall be disbursed and
applied toward the payment of,the costs of extending, im-
proving and adding to,the System, as authorized by this or-
dinance, upon the terms and conditions applicable to the 7.:
withdrawal of moneys from said Construction Trust Fund pur-
suant to the provisions of said Construction Trust Fund
Agreement.
-29-
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.<. Ord. 'l?22... .
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ARTICLE V
MISCELLANEOUS PRWISIONS
5.01. MODIFICATION OR AMEN WENT. 'No material'modi-
fication or amendment of this ordinance or of any ordinance
or resolution 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 Certificates then'
outstanding, provided, however, that no modification shall per-
mit a change in the maturity of such Certificates or a reduc-
tion in the rate of interest thereon, or in the amount of the
1
principal obligation, or affecting the unconditional prcodse
of the City to fix, maintain and collect fees, rentals and oth-
er charges for the water service and sewer service of the Sys-
tem sufficient to pay the principal of and interest on the Cer-
tificates, as the same shall become due, from the Revenues of
the System, or reduce such percentage of holders of such Cer-
tificates required above for such modifications or amendments,
Without the consent of the holders of such Certificates.
55.02. SEVERABILITY OF INVALID PROVISION. If any one
or more of the covenants, agreements or provisions 'of this or-
dinance 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 separate
from the remaining covenants, agreements or provisions, and
shall in no way affect the validity of any of the other provi-
f 4
-30-
Ord, #1222
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lions of this ordinance or of the Certificates or coupons
issued thereunder.
5.03. ISSUANCE AND SALE OF CERTIFICATES. The
Certificates initially authorized to be issued pursuant to
this ordinance shall be issued and sold in such manner and
at such price or prices consistent with the provisions of
this ordinance, as the City Commission shall hereafter de-
termine.
5.04. 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 proceedings in the Circuit Court
of the Sixth Judicial Circuit in and for Pinellas County,
' i
Florida, to validate and confirm the issuance of the Certi-
ficates authorized by this ordinance and all proceedings
and actions taken relating thereto.
Upon the validation of the Certificates
pursuant to such proceedings, there shall be printed upon
each such Certificate prior to the delivery thereof, and
over the facsimile signatures of the Mayor-Commissioner,
City Manager and City Clerk, a Validation Certificate in
the form hereinabove set forth.
5.05. EFFECTIVE DATE. It is hereby found, de-
clared and determined that the funds to pay the cost of
the construction of the additions, ectensions and improve-
ments to the System authorized herein are necessary and
-31-
Ord. #1222
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urgently needed for the preservation of the health, safety and welfare
of the inhabitants of the City of Clearwater; that an emergency is hereby ..
declared, and that this Ordinance shall be in full force and effect
immediately upon its passage as provided by law,
PASSED ON FIRST READING September 15;' 1969
PASSED ON SECOND AND FINAL
READING AND ADOPTED
A tte
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?S`:'iµtirqF,-L_ ,r - Js The Clearwater Sun ;,' ,, PI`Aill " -,-,,'%-:"Y?'!..??; ?.r'?
!. ts'.;v;.t• OR•ORD1NANCEt,".r•4''s !Y
f;_ .: u,rjjr';0Y?, ., :,;. Published Dally 4-_ OROINANCI-No; 1!fl ; a r:7z T ':.f ;j?t.`fs
i;^r 3'`J .;' ''k ".i'' Clearwater, Pinellas Count Florida /i0?(DINANCEt ><V!•Pf.RMII r,:,'il„ ', .'
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;i:;i '1,}t -4f .?' .?a?I, , <' "'•= j STATE OF FLORIDA County, N Ar DkO1MANCE 'ENTITLED:r'rIN
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.1_r {.;,?,r? '. .' ORDINANCE DV OINO 100 ,T" E C4=tit' •.i',,q
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ti'''+v-'°-`,' -+,t;'.•,'Ft trt•- ,-y,• s COUNTY OF PIHELLA3S CONST N • AND 'Q SIT10N ' " ' .'t ~"-rl ;
' r`. 't'_+,,,?s ct"' ; '.f OF.• OTIONS,.EXTEN6 ONS<•tIWD E . i t..n,:, rt;-k °.?Y;:; °
r' ';. .Y G:,; 11aforo tho undersigned authority eared W. Paul Harris who on IM/ MONTS TID THE WATER ,r-:?,=r'•,ra'=
,`,',;r .` jj ;Y; 'z„ , ,`:' personally app . AND-aEWEa llf="m •ANd',+a • Y', ' ';'54:;li."'r
I " ` { .s,f•.,,zf :i ;; s oath says that he in the Business Manager of the Clearwater Sua, a dally newspaper SEWERS qOP THE' ,D?„ ? ;i ;<
"4, ? ``" gin;, i' ;" .aI:lsr:•; FLORIDA. PIi0Y10 a published at Clearwater In Pinellas County, Florida) that the attached copy of A .'' PtNlL • QOU TY ? ';I" :?iif' y
ry :.' ';''%,,;?i , r.;:, . - '.k: - `t.' .
y:? :T 'r,• ';t I;',°:; ,, ,! TAYMENT - 4R;J1; ill I' d 1lplb `1iIt. ?: ' ,; I f"I- :.I`, '!:'t'ar
C ;6`11' :t advertisement, being a ...KOtio.e..Q.f..P.assage„Af.,ordinanOe......• CERTAIN U st •"'-e- . ;°
. r?Flw. ?',ij .r,;'x? .w•? ?.. •' aeLIDAr ' ANO'lNE :, :;'..>;.t:.,a. 1, z?.
:Y %', -;'I : .'y;±,t:ro IONt %..'a ORIZINW ,;,'-:,, tit='. S ,
:;` ij- i,R1?",0:,•i'''" .. In the matter of ISSUANCE, 01c 61.300,000 ,UTIL! "`•.'y ;+- ..'.t
-'3r `i;:r I:d:: RIIVENUL " C C R T R t ,UTILITY ,
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nanae NO li?Zi? ................................. . ............... ' >P DATROYiDINO FOR THEIR IMATU MATURITY S 'i,a ':'Lti= ` ;
ro- 1 :(4 :.:6i -•: .I;;ta' _':,, ............... .. M "'PROVIDING . a `. i,..;' .?':{, r.4,.'?." :i?e7,d°.re'.z;
!z•,, 1"- '^i :: H ;sa','" CUTION • NEOOTr ?R k THE ti:i•s--, tl.:
j +, .,,,:;• i- s-, ........................ fREGIMATION ?REGr6TRATfO A....II . AND tLl; fLv "Z ;..Yrf,•:s=i;1
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.?{ ; = ;3 'y • 4" P ,. Wq=...... ?C= ............................ ... .$iv ..?? was published in REPLACFME Ild. PAYNENT,?k¢ R e.: "
'?'I; i;' _. :''7''j? f" I. r ?C7[7CJL -MUTILATED: DESTROYED,. 3TOLCN is ':.'.`'::•„'"z`t; ,
aA „ ,:,ray : ;j". ,r,• '` said newspaper in the issues of ...is?'r.4'113?4x.. }a{??1? ..................... rINiD LOFT REVENUtafcRE R T.1FrCAT.ES't : i, r., ",.k I.i'-
'x .t ;7r, ,' ::t a R 7 oVmI1l0; ':'• . c;•l:'{`.;:, !:1
'i. . THR'+COVENANTf ''•.'»
,.rj ;'.r ;r xv AND'REVENUES AM AFPLI
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' spry ' ei?,'S EST eL1J<IIIAENT' OR,THE'UTILi4'Y tT.'. x,'.
-'"• f` r:?`'f Afflant further soya that the said Clearwater Bun Is a newspaper published at aY 1r sTEM':'RIVEijuE W`r •
,.,EN41ti1;?z*t r ..
^.r,. • FUND , 's• ;: :t= .„ jT
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1,?•,je-b,A-'1;.,? ;+?r.r•, Clearwator, in said Pinellas County, Florida, and that the said newspaper has R4YIDINO RDR ,FIR AND :;:,?;:.u?; r
`" p,. ' _ <r t'- AND' ' AINTlI1fANCE ' 7NRRtrURN ;_ • ?. -
. ;'I r, ry-t .1i , , : heretofore been continuously published In said Pinellas County, Florida, each day and ! .? .-' :r`, .:.;.:,ly. •,
x Y: r ,'?,}? , igoviD M0: FOR: TME''D1lPOSITIDN ra.';1' :: •? ! ,It ? the
leo or, In said i ? zG t;' "',*__ a ' ? Pine las Gouaty. Florida, for alpeHod ol! onetpeartnext poecedloffice in Cirot pu tlication of A ?fl & *Ij0 j ?1iRNUS rr q , ' J ',`,.`..=4 ?'.
y?tiy -' txtz .N. i11..r.r--+s,. LIMrTI NS:,?;Tmwvr ?; r;a_; '•i?
-- i ?f i FK f?{ rl the attached copy of advertisement; and affiant Furth r a that o has either paid OELIOATIDNS'r ICH:ADD ?'?AT ;'-:5_ :r •P ,r
W,) ? I gig' nor promised any person, firm or corporation any d sco , re ate ommis on or refund FssU1rD AOArH64T ITHE' qi .-.1 c;4. if_ 1)
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ai'w; tL_N for the purpose of securing this advertisement p lice o n the d newspaper. rlLro°vcE° ?aR•>FA, ,C_jRICATxjI 1. ', _,.''t.,;•%t'k,-
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4" a 1 s 11 I 1 e t 'TIFICATE HOLDORS1 L'111 S:OP R? in ,,. . r?'. r'.L , , r1_q , t'r'; .11 " ~ MODIFICATION ail AME ?MI.? I10' {; ?:1> _;; ",#: " ,i.,
j ',?y; .s1 %N k', THIS ''0l0INANCMrr t r OYIa I10?PCR "-' 1' '.1'i, `.'' %'{ .: I?N-,Ii
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, 11 r'J %?: this ...... .day of P ........ r .. A.D. 19..9 *ERT111 CAT. 11DVIGiNO h ` 3 ,; •
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;t Notary Public 119TAR TATS OF FLORIDA AT Ll4 CONPI.I .T.HE IlIIWE,,'; 4 a 1 ; %r:, ?° ?..; '
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