8419-13ORDINANCE NO. 8419 -13
AN ORDINANCE OF THE CITY
AMENDING ORDINANCE NO.
ORDINANCE NO. 6378 -99
DEFINITIONS THEREIN; AND
DATE.
OF CLEARWATER, FLORIDA,
6931 -02, WHICH AMENDED
TO RESTATE CERTAIN
PROVIDING AN EFFECTIVE
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
CLEARWATER, FLORIDA:
SECTION 1. AUTHORITY FOR THIS ORDINANCE. This Ordinance is enacted
pursuant to Chapter 166, Part II, Florida Statutes, the charter of the City of Clearwater,
Ordinance Nos. 6378 -99 and 6931 -02 and other applicable provisions of law.
SECTION 2. DEFINITIONS. The following definition set forth in Ordinance No. 6378-
99, as amended by Ordinance No. 6931 -02 is hereby amended to read as follows (additional
language is underlined and deleted language is indicated with [brackets]):
"Reserve Requirement" [shall be,] for each Series of Bonds issued on or after the effective date
of this Ordinance shall be as determined by subsequent resolution of the Issuer, and with
respect to each Series of Bonds [.] issued and outstanding before the effective date of this
Ordinance, [T]the lesser of (i) the Maximum Bond Service Requirement for such Series of
Bonds, (ii) 125% of the Average Annual Bond Service Requirement of such Series of Bonds, or
(iii) the largest amount as shall not adversely affect the exclusion of interest on [the] such Series
of Bonds from gross income for Federal income tax purposes.
SECTION 3. EFFECTIVE DATE. The provisions of this Ordinance shall take effect
upon its enactment, as required by law.
SECTION 4. PUBLIC NOTICE. Notice of the proposed enactment of this Ordinance has
been properly advertised in a newspaper of general circulation in accordance with Chapter
166.041, Florida Statutes.
PASSED ON FIRST READING May 16, 2013
PASSED ON SECOND AND FINAL
READING AND ADOPTED
Approved aB to form:
P me a K. Akin
City Attorney
June 6, 2013
. -'W,Lt ^ efit4k
George N. Cretekos
Mayor
Attest:
osemarie Ca
City Clerk
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