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R E S 0 L U T 1 O N
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.. ; .... .' . 57 3 3
'4. ?sp.?y}f':r •: • ' - d??p'•^"
WHEREAS, it Is necessary and appropriate that the ?. ;
CITY OF CLEARWATER enter into a Construction Trust Fund Agree-
. i:.: j: ' ' l,?rr4,: }i?,. \5 •?:r . :''; I,t` 't:t?t it?u:?••e?cS,'s?
ment with a National Bank in the City of Clearwater, Florida, ;={:tr,;j.'. try,
''"+' ?`+: '•''" `+ having trust powers in order to accomplish the payment In the
1. j
proper manner of expenses of construction of Improvements accord -
,.`: •:.:: t,,':,;-_ ,.. ing to the provisions of Ordinance No. 718 of sold City; and
e , ,,,, `;'x+.x wra,•.`
?..,!•..r?& [[*?
WHEREAS, the CITY OF CLEARWATER has sold $2,000,000.00
#•?'??ti'}n?-1.???llltifry???'•?.?•' ':?..'S_..r;: ?54?`?j,i?,'9
Utility Revenue Certificates, Series of 1956, and the proceeds
placing with a Trustee to accomplish the
rt'• ak?T ..'rl ,„
are available for
„.A,-??_.tY`X`h Ys,,.4,1 }'•r??•. ._'. ?.'?!rr, . r ?1..:+i
foregoing purpose. Via..
?.Y '''1 ?e?'r's?y?t,- ?r ; ,.Y_f ?• ??FNi, ,S
"• ,kti`;'; ?;''t' `;,<;; '• NOW, THEREFORE, BE IT RESOLVED, by the City Commission r?
4?^•'??-al.? S.r'`' .rysl-:..?1• -'-tar ?,?: .:'cl'S??xYii
.;fr f'r
is
„?I r
L: of the City of Clearwater, Florida, in session duly and regularly
rr. assembled as follows:
ti
(1) THE FIRST NATIONAL BANK OF CLEARWATER, Clearwater,
Florida, a banking corporation organized and existing under the
laws of the United States of America, and having trust powers is
hereby designated as the Trustee for the purposes set out in
Ordinance No. 71$ and in Construction Trust Fund Agreement dated
June 10, 1957•
(2) That said Construction Fund Agreement is approved and
ratified and the City hereby binds Itself to the provisions there--
ry,rr-.t.t;
of and the Mayor, City Manager City Clerk City Treasurer and
`'yz City Attorney be and they are hereby authorized to execute same
for the City.
(3) That the officials authorized to execute requisitions
according to Section 3 (A) of said Construction Trust Fund
Agreement are as follows;
MAYOR - LEWIS HOMER
CITY MANAGER - JACK TALLENT
CITY TREASURER FRANK ABERNATHY
itYW 7f
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•? rL'• 5• ? r:, _ '4 i a :4 •r .`t •.D', «t`': -x •'s_- .z. ?< :.:a •?•: ..r• .
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?{}? 25..4 +,. R+, ..? ?"??".' ?4. ,>p -. 0'4, •}`•? L 3'?, e
;,s1w r ? , 24 ^r w
, ?r< r?."i 4:"+:rs 1. ( .•v SS: ?l?x" 7t'.,'.::,• 'a `' rip .s•?.a+'-
.•}1?°.4S ,,. I,?A» ` '.K•.- •ri ''Sd'„ r?i?.: . !? .?J.?. ;,4 r. ,.,-.ts• {?? 'r'7..?.?''•' s»e: '?'•
T. N. ?l+,! ,v.?19 kv ?:.£•?? .a'+ ., ?'v; "1+ -. t:,•? ,J' :.1 :1.:. '+?,?,Y,i?• ???•°
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+:. and said officials are the only persons authorized to execute
said requisitions until further resolution of this Commission,
=rr''` :? and that each requisition shall not be valid until signed by all i
??' three of the foregoing officials.t
`` ?> 5?a (4) That the official of the City and the only official
fr;i._,'•s r of said City authorized to make the request of the Trustee to
tr",:; r.' invest or re-invest according to Section 8 of the Construction Trust
Fund Agreement shall be the City Treasurer, FRANK ABERNATHY,
-_;' ;;: + •i>z ' : until further resolution of this Commission.
(5) That the Consulting Engineers of the City are BR I LEY,
WILD i ASSOCIATES of Daytona Beach, Florida, the principals of
which firm are
,:c:.,'`' j:.°ti•,..,,; HARRY E. WILD
HAROLD D BR I LEY
B. N. WILSON
:?ar
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.,: ?1yLey?a ?`?.
Y
the foregoing principals shall be the only persons authorized to
rt.:: execute requisitions and other papers on behalf of said Consu I t-?
I ng Engineers
;•?;xF°P: ,.i=,fi^,_?'=:,, (6) That the Trustee shall be compensated for its services
???y15,.[r:..i+`..,,;!•?•,:.,r; as follows:
Base fee $100 plus I/10 0
f 1% of a l l funds paid'
-;
•t` r'''1``J' '',':ti;f" out up to 1 , 000,000.00. fi: Va'4 +7J•>?,2 i4'.>' 1/25 of l,% on funds paid out over $1,000,000.00.
Out-of-pocket expenses Including but not limited
to registered mail, insurance charges, preparing
,t?F=sc i`ot'+ copies of documents and the like, special state- t
ments, lists, and duplicate requisitions.
r
i
?Cost of advice and opinions of counsel.
?. 1? ... +
ht "
41 The reasonable cost of additional unanticipated
ni services for reinvestment or unanticipated functions
4 required to be pperformed, said additional compensation
to be approved by the City Manager and City Treasurer.
MASSED AND ADOPTED this 10th day of June, A.D. 1957.
(SEAL) P
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