08/05/2004
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City Council Agenda
Date: 08/05/2004 6: 00 PM
Location: Council Chambers - City Hall
Welcome. We are glad to have you join us. If you wish to speak, please wait to be recognized, then
state your name and address. Persons speaking before the City Council shall be limited to three (3)
minutes unless otherwise noted under Public Hearings. For other than Citizens to be heard regarding
items not on the Agenda, a spokesperson for a group may speak for three (3) minutes plus an
additional minute for each person in the audience that waives their right to speak, up to a maximum
of ten (10)minutes. Prior to the item being presented, please obtain the needed form to designate
a spokesperson from the City Clerk (righthand side of dais). Up to thirty minutes of public comment
will be allowed for an agenda item. No person shall speak more than once on the same subject
unless granted permission by the City Council. The City of Clearwater strongly supports and fully
complies with the Americans with Disabilities Act (ADA). Please advise us at least 48 hours prior
to the meeting if you require special accommodations at 727-562-4090. Assisted Listening
Devices are available. Kindly refrain from using beepers, cellular telephones and other distracting
devices during the meeting.
1 Call to Order
2 Invocation
3 Pledge of Allegiance
4 Introductions and Awards:
5 Presentations:
5.1 End of Session Report and Presentation - Rep Farkas
5.2 Ken Hartman, FDOT District Secretary, Memorial Causeway Bridge
6 Approval of Minutes
6.1 City Council - July 15, 2004
7 Citizens to be Heard re Items Not on the Agenda
Public Hearings - Not before 6:00 PM
8 Administrative public hearings
- Presentation of issues by City Staff
- Statement of case by applicant or representative (5 min.).
- Council Questions
- Comments in support or opposition (3 min. per speaker or 10 min. maximum as
spokesperson for others that have waived their time).
- Council Questions
- Final rebuttal by applicant or representative (5 min.)
- Council disposition
8.1 Approve the applicant's request to vacate the 3-foot drainage and utility easements
lying along the north and south sides of the north property line of Lot 41, Imperial Park
Unit 1, (a.k.a. 2012 Imperial Way), less the east 5-feet therof and pass Ordinance
Number 7323-04 on first reading, (VAC2004-10 Derosia-Fenn),
8.2 Approve the applicant's request to vacate a 10-foot utility easement that lies in the
north 10-feet of the private street right-of-way of Pen mar Drive, said easement more
particularly described in Exhibit "A" attached, for property located at 702 Bayview
Avenue and pass Ordinance Number 7322-04 on first reading, (VAC2004-09 Our Lady
of Divine Providence),
8.3 Declare as surplus for the purpose of granting a perpetual utility Distribution Easement
to Progress Energy, a portion of the Southwest 1/4 of Section 22, Township 29 South,
Range 15 East, Pinellas County, Florida, commonly known as Ross Norton Park,
containing 19.56 acres, more or less, as more specifically described in the conveying
instrument, and authorize appropriate officials to execute same.
9 Quasi-judicial public hearings
Staff states and summarizes reasons for recommendation (2 minutes).
Applicant presents case, including its testimony and exhibits. Witness may be
cross-examined (15 minutes).
Staff presents further evidence. May be cross-examined (10 minutes).
Public comment (3 minutes per speaker or 10 minutes maximum as spokesperson
for others that have waived their time).
City Council discussion, and may question any witness.
Applicant may call witnesses in rebuttal (5 minutes).
Conclusion by applicant (3 minutes).
Decision.
None
10 Second Readings - public hearing
10.1 Adopt Ordinance No. 7307-04 on second reading, amending schedule for Stormwater
Utility Rates.
10.2 Adopt Ordinance No. 7320-04 on second reading, vacating the east three feet of the
5-foot drainage and utility easement lying along the west property line of Lot 9, Block
13, Mandalay Subdivision.
City Manager Reports
11 Consent Agenda
11.1 Approve settlement of Poling v. City (personal injury action) in amount of $37,500.00.
11.2 Award a contract in the amount of $254,448.00 to American LaFrance Medic Master of
Sanford, Florida for the purchase of two 2004 Freightliner M-2 business class
Advanced Life Support Rescue Unit in accordance with Florida Fire Chiefs Association,
Florida Sheriffs Association, and the Florida Association of Counties Bid 3
(03-04-0820)and authorize the appropriate officials to execute same.
11.3 Declare surplus to the needs of the City and authorize disposal through sale at the
Tampa Machinery Auction, Tampa, Florida, the attached list of vehicles and equipment.
11.4 Approve payment of $85,000 to settle the liability claim of Lesa Neal and Gary Neal
and authorize the appropriate officials to execute same.
11.5 Approve a donation to Clearwater Homeless Intervention Project, Inc. (CHIP) for
funding of operations in the amount of $100,000.00.
11.6 Approve a 10 year lease, with Florida State Council Pentecostal Assemblies, Inc., of a
portion of Christ Temple Church property at 1304 North Martin Luther King, Jr. Avenue,
legally described as the East 36 feet of the North 50 feet of Lot 7, and the North 50
feet of Lot 8, LESS the East 5 feet, Block 3, C. E. JACKSON'S SUBDIVISION, at
$1,200 annual rent for a total cost of $12,000, and authorize appropriate officials to
execute same.
11.7 Accept a sidewalk easement over and across a portion of the Northeast % of the
Northeat % of Section 21, Township 29 South, Range 15 East conveyed by Morton
Plant Hospital Association, Inc. in consideration of receipt of $1.00 and the benefits to
be derived therefrom and authorize the appropriate officials to execute same.
11.8 Accept a 20-foot wide Utility Easement to encumber a portion of the Northeast % of
Section 18, Township 29 South, Range 16 East conveyed by the Board of Trustees of
St. Petersburg College in consideration of receipt of $1.00 and the benefits to be
derived therefrom.
11.9 Approve a contract with American Housing Corporation to sell Lots 47 & 48, Block F,
GREENWOOD PARK NO.2, for the total net sum of $25,002, and authorize
appropriate officials to execute same and any instruments related thereto as may be
required for closing.
11.10 Approve a work order amendment for engineering design of the North Greenwood
Traffic Calming Design and Construction Administration Services (02-0055-EN) to
Wade Trim of Tampa, Florida in the amount of $37,249.00 and authorize the
appropriate officials to execute same.
11.11 Approve the amendment of the Capital Improvement Program (CIP) to restructure
Stormwater Utility funding by reducing project budgets by $28,930.09 of fee revenue,
$89,563.00 of 1999 bond proceeds, $243,936.50 OF 2002 bond proceeds and
$9,061,420.00 of 2004 bond proceeds for a total decrease of $9,423,849.59 and
increasing project budgets by $1,565,328.09 of fee revenue, $89,563.00 of FY99 bond
proceeds, $243,936.50 of 2002 bond proceeds, for a total increase of $1 ,898,827.59,
resulting in a net budget decrease of $7,525,022.00, and the amendment to the
Stormwater Maintenance (419-02090) 2004 operating budget to increase the transfer
of fee revenue to CIP projects by $1,536,398 from the retained earnings of the
Stormwater Utility Fund,
11.12 Approve the preliminary plat for "Edgewater Townhomes", located on the southeast
corner of Union Street and Edgewater Drive, (AKA. 2095 Edgewater Drive),
11.13 Approve a contract with Clearwater Neighborhood Housing Services, Inc. ("CNHS") to
sell GREENWOOD PARK NO.2, Block D, Lot 37, a/k/a 1108 Engman Street for the
total sum of $10,500, including compliance with special qualifying criteria, and
authorize appropriate officials to execute same and any instruments related thereto as
may be required for closing.
11.14 Approve changes to the New Construction chapter of the Design Guidelines relating to
the transition areas section and new requirements for architectural styles within the
Downtown Core.
11.15 Recommend Pinellas County Administrator appoint Doug Williams to the St.
Petersburg-Clearwater International Airport Aircraft Noise Abatement Task Force, due
to resignation of Saundra L. Curry.
11.16 Appoint Manoj Haresh Shewa to the Library Board with the term expiring on August 31,
2008.
11.17 Appoint Christine Travis to the Beautification Committee with the term expiring on
August 31, 2008.
Purchasing
11.18 Woodward (skate park) ramps and rails by Huna Designs, installed.
12 Other items on City Manager Reports
12.1 Adopt Resolution 04-22 authorizing the Marine & Aviation Department to act as Project
Manager for the Florida Boating Improvement Program and authorize the appropriate
officials to execute same.
12.2 Adopt City of Clearwater Resolution No. 04-18 and accept City of Oldsmar Ordinance
2004-02, which amends Ordinance 84-16 and changes the franchise percentage of
gross receipts from the sale of gas paid to the City of Oldsmar by Clearwater Gas, and
makes several administrative changes to our agreement and authorize the appropriate
officials to execute same.
12.3 Adopt Resolution 04-23 providing for the sale of not to exceed $15.5 million
Stormwater Revenue Bonds, Series 2004 and authorize the appropriate officials to
execute same.
12.4 Approve Capital Improvement Project 315-92836, Sign/Signal Shop Expansion, in the
amount of $240,000 for Fiscal Year 2004/05.
12.5 PULLED
12.6 Approve amendments to the Election Code and pass Ord. No. 7325-04 on first reading.
12.7 IAFF Contract Negotiations Update
13 City Attorney Reports
14 City Manager Verbal Reports
14.1 Update re County participation in Recreation Facility
14.2 Pinellas County Coalition for the Homeless request for funding
15 Council Discussion Items
15.1 Set Workshop for Enterprise Fund and CIP Budgets
15.2 Community Development Board Philosophy - Jonson
Land Development/COB discussion request
16 Other Council Action
17 Adjourn
CITY OF CLEARWATER
Interdepartmental Correspondence
TO:
Mayor and Councilmembers
Cyndie Goudeau, City Clerk i/,!:t ,,{
SUBJECT: Follow up from August 2, 2004 Work Session
FROM:
COPIES:
William B. Horne, City Manager
DATE:
August3,2004
In response to questions raised at the August 2 Work Session, the following answers
are provided in final agenda order:
Revised agenda - two items added for Council Discussion
Item #12.2 - Adopt Resolution No. 04-18 and accept City of Oldsmar Ordinance 2004-
02, which amends Ordinance 84-16 and changes the franchise percentage of gross receipts
from the sale of gas paid to the City of Oldsmar by Clearwater Gas, and makes several
administrative changes to our agreement. Email provided with item.
Item #12.4 - Sign/Signal Shop Expansion - Memo provided with item.
Item #12.5 - Approve a contract with St. Petersburg College ("SPC") to purchase
property situate in Section 7, Township 29 South, Range 16 East commonly known as the
Joe DiMaggio Gym, 2450 Drew Street -Item pulled
Item #14.2 - Pinellas County Coalition for the Homeless request for funding - Letter
provided in books.
Pinel/as Mobility Initiative (presentation at worksession) - A request was made to
provide a document to give purpose, scope and what PMI is to accomplish. Document has
been requested and will be provided when received.
Please bring your calendars to plan Work Shop for Enterprise Fund and CIP
Budgets.
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CONSTRUCTION LEADERS
August 5, 2004
Mr. James V. Moulton, Jr., P.E.
Director of Transportation Operations
FLORIDA DEPARTMENT OF TRANSPORTATION
11201 N. McKinley Drive
Tampa, Florida, 33612
RE: Memorial Causeway Bridge
Cleanvater, FL
Dear Mr. Moulton:
Further to our recent discussions and meetings, we are enclosing the following documents related
to the "twin-pier" replacement concept:
(1) Acceptance Proposal complete with rendering.
(2) Joint Memorandum of Understanding
We look forward to working jointly with the Department as we complete this project.
Yours truly,
D. Harder
e President & District Manager
Enclosures
PCL CIVIL CONSTRUCTORS, INC.
Suite 200, 3810 Northdale Boulevard, Tampa, Florida, 33624 Phone: (813) 264-9500 Fax: (813) 264-6689
(EQUAL OPPORTUNITY EMPLOYER)
Acceptance Proposal- Twin Pier Concept
Memorial Causeway Bridge
Clearwater, FL
In response to the Department's directive to replace piers 5R, 5L, 6R and 6L, peL
submits this Acceptance Proposal in accordance with Section 5-1.4.10 of the
Specifications. The concept provides a 'twin' pier as depicted on the attached rendering.
The general scope of construction is summarized as follows:
1. The up-station and down-station flared portions of the four existing columns will be
removed back to a plane approximately flush to the colwnn section at its base.
2. Transverse and longitudinal closures of the superstructure will be completed.
3. New, widened diaphragms will be constructed adjacent to each side of the existing
diaphragm inside each of the four pier segments.
4. Footing 6R will be injected above the low water line.
5. Steel reinforcing dowels will be anchored into the existing footings below the new
pier footprint locations where the proposed new columns will be constructed.
6. Reinforcing steel and formwork will be placed in preparation for constructing four
pairs of new twin piers adjacent to existing piers 5R, 5L, 6R and 6L.
7. When the new twin piers have been constructed to the underside of the superstructure,
load from the existing piers will be transferred to the new piers by means of jacking
and disconnecting the existing piers.
8. The new columns will then be permanently connected to the superstructure with post-
tensioned steel members.
9. The four existing columns will be removed.
10. Final finishes will be applied to complete the pier replacements.
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,Joint Memorandum of Understanding
. Prior to and since February 05, 2004, the original VECP design completed by Earth
Tech, Inc., as Engineer of Record (EOR), has been reviewed by several parties and
numerous errors and omissions have been discovered. As of August 04, 2004, the
EOR has failed to confirm the validity of the VECP design, and the EOR has not
provided confirmation that all errors and omissions have been identified or corrected.
As a result, the Department has advised PCL that the EOR has failed to deliver an
acceptable engineering design that conforms to Federal and Florida Department of
Transportation Design Codes and Standards.
· Pursuant to Section 5-1.4,10 of the Specifications, PCL has submitted an Acceptance
Proposal in response to the Department's May 14, 2004 directive for PCl to remove
and replace the columns at Piers 5 and 6. This Memorandum of Understanding sets
forth the terms and conditions related to the Department's and PCl's agreement
regarding the Acceptance Proposal. The Department and PCL agree that these terms
and conditions supercede the terms and conditions of any previous offers whether
written or verbal. Further, the Department and PCL agree to incorporate the terms and
conditions expressed herein into a formal Supplemental Agreement to the Contract in
due course.
· PCL is in the process of attempting to engage Parsons Transportation Group (PTG) as
the replacement EOR for Bridge Number 150244. The Department agrees to accept
PTG as the replacement EOR and PCL agrees not to replace PTG without the express
written approval of the Department. If PCl is not successful in engaging PTG as the
replacement EOR, PCl will select an alternate replacement EOR, subject to the
Department's approval of same; and this Memorandum of Understanding will be
modified by the parties to fully address any additional requirements the Department
may require as to such alternate replacement EOR. Further, should PCl be successful
in engaging PTG as the replacement EOR, PTG will assume responsibility for the
following tasks:
· PTG will submit a complete set of signed and sealed plan sheets and design
calculations that reflect the as-built condition of the superstructure and
substructure (except for the geotechnical engineering previously signed and
sealed by PSI) portions of the bridge, and do so in conformity with all Federal
and Florida Department of Transportation Design Codes and Standards as
stated in the Contract Documents and Supplemental Agreement No,1, PTG will
review all Requests for Information (RFI), Requests for Modifications (RFM),
repair procedures, and repairs previously approved by Earth Tech, Inc. to
confirm such are acceptable as submitted or PTG shall revise such as
necessary prior to incorporation into PTG's signed and sealed plans sheets and
calculations. Plan sheets and calculations shall conform to the Contract Design
Criteria, No additional design exceptions or variances will be issued, Should
any portion of the bridge affected by the VECP not meet the Contract Design
Page 1 of5
Criteria, PTG will incorporate the corrective measures to bring the structure into
compliance, all at no cost to the Department.
· PTG shall analyze all portions of the structure constructed to date, identify and
address any deficiencies, and sign and seal any designs for repairs.
· Any RFI, RFM, or repair procedure that was previously originated by an
engineer with PTG, shall be peer reviewed by another engineer at PTG who
shall determine if the applicable procedure is acceptable.
· PTG will provide necessary engineering services for any new RFI, RFM, repair
procedures, shop drawing production and shop drawing review.
· PTG shall prepare sufficient documents prior to completion of 100% plans, to
substantiate that the structure will load Rate and shall also complete the Load
Rating Analysis for the as-built condition of the bridge using the lFD Code, and
do so within 30 days of the Interim Milestone Date (or within 30 days of bridge-
open-to-traffic if this precedes the Interim Milestone Date) specified elsewhere in
this document.
· It is agreed that no additional compensation or time will be provided by the
Department for errors and omissions that arise in the Acceptance Proposal
plans and designs. PCl further agrees not to pursue any claims against the
Department for impacts to PCl as a result of the performance or non-
performance of PTG.
· PTG shall have in place a minimum of $2,000,000 in professional liability
coverage that is applicable to any and all engineering services PTG provides as
to the bridge, whether corporate or project specific.
· Should PCL be successful in engaging PTG, PCl shall submit an Interim Design
Package on or before September 15, 2004, The Interim Design Package will consist of
an updated longitudinal Construction Analysis for the twin pier concept, twin pier and
diaphragm widening details, and an updated Casting Manual that includes an updated
Geometry Control Plan for the remaining closures and replacement of the existing
Erection Manual. Upon the Department's approval of the interim design package, PCL
may resume all construction activities on all cantilevers. However, if subsequent
Interim Designs adversely affect previous approvals, any costs, delays, etc. will be
borne soley by peL.
· If PCl cannot provide an acceptable Interim Design Package for the twin pier design by
November 15,2004, pel will immediately thereafter begin removal and replacement in
accordance with the Department's directive dated May 14, 2004.
· The Department is agreeable to the concept of the proposed "twin-pier" design to
replace piers 5R, 5l, 6R, and 6L.
· PCl agrees to provide the required drawings, calculations, applications and fees for
any environmental permits or modifications to existing environmental permits
necessary for the Acceptance Proposal design, construction and/or demolition and will
do so solely at its own cost.
Page 2 of5
· FOOT will treat this work as a "fast-track" process by permitting PCL to proceed with
Piers 5 and 6 replacement activities prior to the time that the final design is completed
and approved. In other words, as components such as piers and diaphragms are
designed and approved, construction can proceed on these individual components at
PCl's discretion. However, if subsequent components adversely affect previous
approvals, any costs, delays, etc. will be borne soley by PCL.
· The Department is committed to reviewing and providing comments on all submittals
associated with the Acceptance Proposal within 14 calendar days from receipt by the
Department. PCl will provide preliminary design information to the Department not
less than weekly until the 100% submittal is made.
· PCl will provide a new Baseline Schedule by August 30,2004, in comparable detail as
the original baseline schedule that shows PCl's plan to complete the project and shift
traffic to the bridge on or before September 1, 2005 (Interim Milestone Date) and PCl's
plan to complete the Project on or before January 1, 2006 (Final Acceptance Milestone
Date ).
· PCl shall reimburse the Department at a rate of $1500/day for the Department's
additional Administrative Costs associated with the Acceptance Proposal, beginning on
the date of expiration of Contract Time, and continuing until the date the bridge is fully
opened to traffic. Upon the bridge being fully opened to lfaffic, PCL will then reimburse
the Department at a rate of $750/day until the date of Final Acceptance, Should the
Interim Milestone Date not be met, a $365,000,00 lump sum disincentive will be
assessed. The Department waives all Liquidated Damages under the Contract until
January 02, 2006; however, Contract Time shall continue to run until the date of Final
Acceptance.
· The final CPPR score assessed to PCl will be fixed as of the date of signing of this
Memorandum of Understanding and is 75%, provided the Final Acceptance Milestone
Date is met. If the Final Acceptance Milestone Date is not met, the CPPR score will be
retroactively adjusted in accordance with CPPR procedures, The Department
aCknowledges that the CPPR for this project has already been taken into consideration
for prequalification purposes; and, therefore, the Department agrees that PCl's CPPR
for this project will not be used for any future prequalification application and approvals,
Furthermore, neither the Milestone dates nor the duration required to complete this
project will affect any future PCl prequalification approvals.
· No additional time will be granted nor any monetary compensation provided for any of
the work resulting from or undertaken in furtherance of the design, implementation and
construction, of PCl's Acceptance Proposal. Further, PCL hereby waives any and all
issues or claims, of any kind, in any way arising out of, on, or pertaining to the Project
up to and including the date of this Agreement, regardless of whether raised or
identified as of this date; with the sole exception of the attached list of outstanding
items as set forth in Appendix A. The Department acknowledges that additional
Page 3 of5
.
Contract Time of 39 calendar. days will be required to complete the, Extra Work
identified in Appendix A as 'Curb Removal/Rigid Barrier Wall Addition' requested by
the Department; however, PCl acknowledges that none of the Milestone Dates
contained herein will be modified by such 39 calendar days of additional work,
· If engineering errors or omissions exist relative to the original pre-VECP design, the
Department will administer these as extra work and PCL will receive additional
compensation for this work, with any appropriate adjustments to the Contract Time and
Milestone Dates to be granted, to the extent that the Critical Path is impacted,
· FOOT will pay PCl for any extra work, additional work, design enhancements, etc., that
the Department may direct. To the extent that these items affect the Critical Path, the
Contract Time and Milestone Dates will be adjusted,
· Notwithstanding Section 5-1.4,10 of the Specification, the Department will not require
PCl to engage a Specialty Engineer to perform a technical assessment of the
Acceptance Proposal. The Department's peer review on the final design will be
provided to PCl and its consultants upon completion. However, any errors discovered
will be promptly conveyed to PCL.
· The Department and PCl mutually agree to fully cooperate with one another by
providing reasonable access to documentation, information and personnel reasonably
required for either to seek recovery from others as a result of damages incurred on this
project Of to defend against claims made against eithef by third parties.
Agreed to:
Florida Department of Transportation
6);-/04-
Date
PCl Civil Constructors, Inc.
~. S, 04
Date
Page 4 of5
. -.
Appendix A - List of OutstandinQ Issues
MOT Costs - Pierce 100 Access
MSE Systems Radio Tower/Productivity Claim
Bridge Load Rating - Extra Work
Barrier Mule - Additional Costs
Painting Enclosure
Asphalt Quantity
Embankment Quantity
Curb Removal/Rigid Barrier Wall Addition
Page 5 of5
8'1
City Council
Cover Memorandum
ErJGi
Trackinq Number: 715
Actual Date: 08/05/2004
Subiect / Recommendation:
Approve the applicant's request to vacate the 3-foot drainage and utility easements lying along
the north and south sides of the north property line of Lot 41, Imperial Park Unit 1, (a.k.a. 2012
Imperial Way), less the east 5-feet therof and pass Ordinance Number 7323-04 on first reading,
(VAC2004-10 Derosia-Fenn),
Summary:
* Applicant owns all of Lot 41 and the south 12 feet of Lot 40; the vacation will allow
the property owner to construct a swimming pool and pool enclosure across the shared
property line where the easements are located.
* Progress Energy, Verizon, Brighthouse Cable and Knology Broadband have no objections to
the vacation request.
* No city utilities are located in the easements to be vacated.
* Public Works Administration has no objections to the vacation request,
Originating: Engineering
Section: Administrative public hearings
Category: Vacation of Easements and Rights of Way
Number of Hard Copies attached: 2
Public Hearing: Yes
Advertised Dates: 07/18/2004
07/25/2004
Financial Information:
Review Aooroval
Glen Bahnick
Frank Gerlock
07-12-2004 15:46:37
07-16-2004 16:49:51
07-20-2004 21:48: 17
07-12-2004 15:52:10
07-21-2004 16:31:53
07-16-2004 14:32:27
07-20-2004 10: 18:21
Brvan Ruff
Bill Horne
Michael Ouillen
Cvndie Goudeau
Garry Brumback
NORTH
Scale 1" = 100'
EXHIBIT itA"
Scale 1"= 1 00'
36
47
60
139
22
37 46 61 140
21
8 .- 5' Drainage Utility
Easement Typ.)
RIAL 45
20 IMP 62 141
UNIT
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17 ::x: Easement (Typ. 66 153
41 42 65
IMPERIAL WAY
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City of Clearwater, Florida
Public Works Administration/En ineerin
ate City of Clearwater Vacation Request
07/02104 DEROSIA - FENN
awn Y Imperial Park Unit 1 PB59-PG33
SK Vacation the 3-foot drainage and
ec e Y utility easement along the North ec- wn- ng
S,D, property line of lot 41 & the South 24-29S.15E
property line of lot 40,
VAC 2004.10
eet
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r mance
316B
7323.04
Location Map
Derosia - Fenn
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City of Clearwater, Florida
Public Works Administration/En ineerin
ale City of Clearwater Vacation Request
07/02/04 DEROSIA _ FENN VAC 2004.10
awn Y Imperial Park Unit 1 PB59-PG33 eel
SK Vacation the 3-foot drainage and I of 6
ec e Y utility easement along the North ec- wn- ng
S.D. property line of lot 41 & the South 24-29S.15E
I property line of lot 40, less the east r mance
316B 5-feet thereof, 7323-04
I
ORDINANCE NO, 7323-04
AN ORDINANCE OF THE CITY OF CLEARWATER,
FLORIDA, VACATING THE THREE-FOOT DRAINAGE AND
UTILITY EASEMENT LYING ALONG THE NORTH
PROPERTY LINE OF LOT 41, IMPERIAL PARK UNIT 1,
LESS THE EASTERLY FIVE-FEET AND THE THREE-FOOT
DRAINAGE AND UTILITY EASEMENT LYING ALONG THE
SOUTH PROPERTY LINE OF LOT 40, IMPERIAL PARK
UNIT 1, LESS AND EXCEPT THE EASTERLY FIVE-FEET;
PROVIDING AN EFFECTIVE DATE.
WHEREAS, Gail Derosia Fenn, owner of real property located in the City of
Clearwater, has requested that the City vacate the drainage and utility easement depicted
in Exhibit A attached hereto; and
WHEREAS, the City Council finds that said easement is not necessary for
municipal use and it is deemed to be to the best interest of the City and the general public
that the same be vacated; now, therefore,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY
OF CLEARWATER, FLORIDA:
Section 1. The following:
The three-foot drainage and utility easement lying along the north property
line of Lot 41, Imperial Park Unit 1, as recorded in Plat Book 59, Page 33,
Official Records of Pinellas County, Florida, less the easterly five-feet
thereof and the three-foot drainage and utility easement lying along the
south property line of Lot 40 of Imperial Park Unit 1, less the easterly five-
feet thereof
is hereby vacated, and the City of Clearwater releases all of its rights in the servitude as
described above to the owner of the servient estate thereto.
Section 2. The City Clerk shall record this ordinance in the public records of
Pinellas County, Florida, following adoption.
Section 3. This ordinance shall take effect immediately upon adoption.
PASSED ON FIRST READING
PASSED ON SECOND AND FINAL
READING AND ADOPTED
Brian J. Aungst
Mayor
Ordinance No. 7323-04
Approved as to form:
Attest:
Cynthia E. Goudeau
City Clerk
Bryan D. Ruff
Assistant City Attorney
Ordinance No. 7323-04
8'L
City Council
Cover Memorandum
EN 6 2-
Tracking Number: 714
Actual Date: 08/05/2004
Subiect / Recommendation:
Approve the applicant's request to vacate a 10-foot utility easement that lies in the north 10-feet
of the private street right-of-way of Penmar Drive, said easement more particularly described in
Exhibit "A" attached, for property located at 702 Bayview Avenue and pass Ordinance Number
7322-04 on first reading, (VAC2004-09 Our Lady of Divine Providence),
Summary:
* Applicant is seeking vacation of the easement in order to relocate an existing worship
building presently in a flood zone onto an elevated portion of the site.
* Progress Energy, Verizon, Brighthouse Cable and Knology Broadband have no objections to
the vacation request.
* Presently, a 4-inch water main and an abandoned natural gas pipe are located in the
su bject easement.
* Clearwater Gas has no objections to the vacation request and the water line will be
abandoned as part of the redevelopment of the site.
* No further need for the easement is anticipated.
* Public Works Administration has no objections to the vacation request.
Originating: Engineering
Section: Administrative public hearings
Category: Vacation of Easements and Rights of Way
Number of Hard Copies attached: 2
Public Hearinq: Yes
Advertised Dates: 07/28/2004
07/25/2004
Financial Information:
Review Approval
Glen Bahnick
07-12-2004
16:09:25
Brvan Ruff
07-16-2004
16:00:40
Bill Horne
07-22-2004
21:39:20
Michael Ouillen
07-12-2004
16: 19:43
Cvndie Goudeau
07-26-2004
10:04:56
Frank Gerlock
Garry Brumback
I
City Council
Cover Memorandum
07-16-2004 13:31:47
07-22-2004 09: 19:57
NORTH
Scale 1" = 100'
EXHIBIT IlA"
Scale 1 "=100'
TRACT C
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,
City of Clearwater, Florida
Public Works Administration/En ineerin
ale City of Clearwater Vacation Request
07/02/04 OUR LADY OF DIVINE PROVIDENCE VAC 2004.09
awn y Myron A. Smith's Bayview eel
S,K, 20f6
ec y Subdivision, PB25-PG57 Tract C
S,D. The North 10 feet of road Pen mar
Drive, mance
30lA 7322-04
Location Map
Our Lady of Divine Providence
NORTH Scale 1"=1320'
~ /~U)
DJ BRJOAOOON OR
DREW
COURT1'IEy
City of Clearwater, Florida
Public Works Administration/En ineerin
ale City of Clearwater Vacation Request
07/02104 OUR LADY OF DIVINE PROVIDENCE v AC 2004-09
awn y
5,K,
eel
5,D,
Myron A. Smith's Bayview
Subdivision, PB25-PG57 Tract C
The North 10 feet of road Pen mar
Drive,
I Df6
ec e y
16-29S.16E
301A
r mance
7322-04
ORDINANCE NO, 7322-04
AN ORDINANCE OF THE CITY OF CLEARWATER,
FLORIDA, VACATING A TEN-FOOT UTILITY EASEMENT
LYING ALONG THE NORTH BOUNDARY OF A ROAD
(PENMAR DRIVE), BEGINNING AT THE NORTHWEST
CORNER OF TRACT C, MYRON A. SMITH'S BAYVIEW
SUBDIVISION; PROVIDING AN EFFECTIVE DATE.
WHEREAS, Our Lady of Divine Providence, owner of real property located in the
City of Clearwater, has requested that the City vacate the easement depicted in Exhibit A
attached hereto; and
WHEREAS, the City Council finds that said easement is not necessary for
municipal use and it is deemed to be to the best interest of the City and the general public
that the same be vacated; now, therefore,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY
OF CLEARWATER, FLORIDA:
Section 1. The following:
A ten-foot utility easement more particularly described as follows: Begin at
the northwest corner of Tract "C", Myron A. Smith's Bayview Subdivision, as
recorded in Plat Book 25, Page 57, Public Records of Pinellas County,
Florida; thence run South 21006'48" east along west line of Tract "C" 199
feet more or less to the north side of a 50-foot road (Pen mar Drive); thence
North 67029'05" east 365.93 feet along the north side of the 50-foot road to
the east line of Tract "C"; thence south 21006'48" east 50 feet; thence south
67029'05" west 365.93 feet more or less to the west line of said Tract "C";
thence north 21006'48" west 50 feet to the point of beginning
is hereby vacated and the City of Clearwater releases all of its rights in the servitude as
described above to the owner of the servient estate thereto.
Section 2. The City Clerk shall record this ordinance in the public records of
Pinellas County, Florida, following adoption.
Section 3. This ordinance shall take effect immediately upon adoption.
PASSED ON FIRST READING
Ordinance No. 7322-04
PASSED ON SECOND AND FINAL
READING AND ADOPTED
Approved as to form:
Bryan D. Ruff
Assistant City Attorney
Brian J. Aungst
Mayor
Attest:
Cynthia E, Goudeau
City Clerk
Ordinance No. 7322-04
g'..?'
City Council
Cover Memorandum
l=.N&3
Tracking Number: 696
Actual Date: 08/05/2004
Subject / Recommendation:
Declare as surplus for the purpose of granting a perpetual utility Distribution Easement to
Progress Energy, a portion of the Southwest 1/4 of Section 22, Township 29 South, Range 15
East, Pinellas County, Florida, commonly known as Ross Norton Park, containing 19.56 acres,
more or less, as more specifically described in the conveying instrument, and authorize
appropriate officials to execute same.
Summary:
The City commenced construction of its state-of-the-art Recreation Center and skateboard park at
Ross Norton in February 2004.
Progress Energy will be providing electric energy, service and communications systems for the
complex. In addition to providing power service and distribution, Progress Energy will install and
maintain site lighting throughout the recreation complex,
The subject easement grant will provide Progress Energy a ten-foot wide perpetual easement
lying five feet each side of the centerlines of all of its facilities as designed and installed by mutual
agreement with the City.
Should the City determine the future relocation of Progress Energy utilities are necessary for
additional orderly development of Ross Norton Park, the City will be required to bear the cost of
such relocation.
A copy of the easement instrument is available for review in the Office of Official Records and
Legislative Services.
Originating: Engineering
Section: Administrative public hearings
Category: Agreements/Contracts - without cost
Number of Hard Cooies attached: 1
Public Hearing: Yes
Advertised Dates: 07/25/2004
Financial Information:
Review Aooroval
Michael Ouillen
07-07-2004
10:20:16
Garrv Brumback
07-20-2004
10:19:36
Laura Lioowski
07-12-2004
16:48:33
Bill Horne
07-20-2004
21 :47:22
City Council
Cover Memorandum
Cyndie Goudeau
07-21-2004 16:32:41
LOCATOR MAP
PROGRESS ENERGY DISTRIBUTION EASEMENT -ROSS NORTON PArtk
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DISTRIBUTION EASEMENT - CORPORATE
K.~OW ALL MEN BY THESE PRESENTS. Illal dill ulldcnigllCd. their hell1!, ~rs. I~ and
assigns f"GRAN'roR"'}, in cunliidcmlioo of tlte l'fIlItuaJ ~IS, covenants and c(lndltioru; hc:fein rontaill(l(t, did grant
and com'!:}'I;:! PROGRF.5S ENERGY. a F1"rida corporntion rGRANTEE""), Posl OlUte Box 1t042, St f'!:tCfSbtIfg..
HariiLl JJ1:U, JII14 10 its 5n~ ~ liOt.~ UaII$f~ pc:nnita:s. aJlllOrtio~, and l1!ISigM, an eal.cmeut
III inslall, apcr.I1C and m.1imain in ~ty. such fatililks u may be ~I}' Of t:1esirablc for providing clccIric
energy and $l:lyi<:e and oommunj,catwn S}'Slcms. whctbcr 10 Idccommnmalt!on ~ or other CII$ktmcrl; b}'
GRANTEf; or <>>hcn.. said factlil:ie& being located ill, on, m1::l, under Of across the following descr1bed wP".asc:rnent
i\re:C witlllll GRA."ITOR'S pmni~ in f'i.m:UM Cm!nl}'. 10 wit
A III foot Wide is;l<;crncnt A!(:3 dclinro as l:t'lng 5 !eel 011 each sict.c of Grn.nlec's facilities 10 be installed III
mutuall>' llgll1Cl:l upon localiollS mer, ai.'1WS and I.hrough the (011(0\1118 dcsI;nW PfI'lPCflY to acro1l1mOOalc
pr=nl and futun: dcvcll1J'ment.
(See Alllll::luncut A)
'Tu P.~l NlllnlJtr: 2m?lI5i{)(l(l(~)t320JOI&1
'flterigll!sbertin~ntcd loGRANTEF.by GRANTOR ~ill(:lilly int11Hk; (a)lbc I'1g\ltJor GRANn:~lo
palfol, . illspccr,.altet, Im~~Il", relmild,~!lX;'llc, and retilQ'VC $;lid r~ciIilies; {bltheri~ f(lf GRANTEE to
incre:JSe nr da.~ theV(lIt;1h~JUJdwchanse tbe qlllmhty and l)<pe llLfucililies; {cl lllllrightfor GRANTEE to cleat
Ule Eal;emcnt Area of 1m::S, hmbs, undergrowth and ollw:r physi~1 objectS whicb, in theQpini(Utllr GRANTEE,
cmfmtgel" Of mterferewith.1hc we. @Ii. clIldcnl ul5t.1.llatio+l, opcrnuonor mainl~ of ~d facilitlcs; (d) thcright
for GRANTEE 10 m1l1 (lr reml1\'CanytunbcradjilCl:nt to,.bu1otitside Lbelia!lt:nlCDlAn:awhiclt,ln tile llj)illitl!l of
GR.<\N'ff.::E. cndanSCf!ilor tOlCneK'S with the s:lfe .lod efficient in.<la11alion..llpcrntit:m or lMillteaant>e of $ilid raqlil~;
(e) dill <<:;lS(lMblc ti~ for (lRi\N'I'EE 10 enter ujlQn land oftbc GRANTOR adJa~~ln ~d F~'iCllIcnt Area fot the
PUIipOSI;of exercisillgllte ri~1$ ~n s;ranlc4; llnd(f) nllo1l1Ct righ!S!Ifldlftl'tile;cs ~~lj' ~ry Of
oonvenient for GRANTEE's safe and e!lieient ill$tallatilm, apcmlioolJndrn.1lnlcnanceof said fa!;:i1ities IDltl (l>t the
enjuymc1uand ose ofSaiddl,<ieffiellt tor tile plltpiY.ICS describedabQve.
GRANTOR ht'fCbr covenanLo; andagnxs tMI oobuildingg, structures or obSlaclllS(cxcept fenws) sbllU.be
1{iC.1ted. eons:tJ'U(,"tC!.L FVl1ted or ~ltd "1lbtntlle E:,1Semem ^~ lllhc fuoq.:s ate Installt;d, Ihcy .~bc pla~so
ill! (4) allow ready~s tQ <;RANU:E'. facilities noo provide a wurk",g ~ qf.mlt \e:ilithall six w.:. (6') On \he
TIlls h'llll",ntl'repmw b}' t-mlY;j M. Tayl'O!
Return 11;1 Real Est.'l1~ Document CefllCf, Prog.res;s Etlctgy
1,00 F.M:llmlge PIl)Ct.l, Lake Mary, FL 3214Q
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GRAmOR covenants not to interfere with GRANTEE's facilities within UW! Easement Ar'ea in
GRANTOR's premise$, and GRANTOR furtl1er covenants, s1Jbj~n" the limitatlofl$ andrestfictionsur F. 5,
75S;ZB, the Florida SQve.reign Immunity Statute, toindemnlf'y and tm.ldGRANTEf harmless frQrn ilnyaorlal!
damagl1l$ and injuries, whether to perSf,lrl50r property, . resulting from interference with GRANTEE~5 f;:ICllit~by
GRANTOR or by GRANTOJ.?i's agMts or ernploy~,
GRANTOR hereby warrants l'lfld covenants (a) that GRANTOR Is the owner of fee simple title to
tile Premises in which the above de..<;CJibed Easement: Ar~ is located, (b) that GRANTOR has fun right ilnd
lilwfl,ll i)ull1orll;y to grant and wnvey this easement to GRANTEE, and (e) that GRANfEE shall have quiet and
peaceful possession, uSQ <md enjoyment of this casement
All covenants, terms, Pfovisions and coooitions herein Contai:J'rlldsl\alllnure to and ex1em:l to and
be obl$to!y upollthe heirs, SIH:r..essors, jess~s and 35signSQflhe l'eSpectlveparties hereto.
IN WITNESS WHE'REOf, the saId GRANTOR has caused lh1$~a5emel1t to be signed in its name
hy its proper officers thereUnto dul', 3uti'lorized and its official seal to be hereunto affixed and attested thiS
of , 2.004.
Countersigned:
CITY OF ClEARWATER. FLOIUDA
anan J.. Aungst, Mayor
By: _,.""" ,,_,,~
WilUam 8. Home, U, City Mal'\~r
Attest:
"" Cynthia t;, Goudea"u;"C1tY Cler~"
STATE OF FLORIDA
:55
COUNTY OF PINELLAS
BEFORE ME, the undersigned, personally appeared Brlilt\ 1. Aungst, tht'l Nayor of t~ CIly or
Clcat\"Iater, Florida, who executed the foregoing mstrument and aCknowledged ti'le (Ol(ecution thereof to be his
(rile act "no deed for the use and puq:XY-"$ herein set forth, and who is personally known to me.
WlTN.ESs my hand and offlcial seal this _ day of
~",,-' 2004.
Notary P~lic
!>ly tcmmissiM e:o:po;res:
PrintfType Name _,,, '"
STATE OF FLORIDA
:SS.
COUNTY OF PINELlAS
BEFORE M Ie, the un , persol1\llly appeared William B. Home, H, theClty Manager of the
City QfOearti~tet,. FlOOda, Who '.. . e fote9oltJg Instrument and cH:knowkMged theexe<:uoon thereof to
he his free act Md deed for the use .md purpp:;es herein set. furth, llnd who Is personatly known to me.
WITNESS myl1and and bffidal seallhis _ day
My commission expires:
Print/Type N.lrne .
ApproYed as to fonn~
Laura LJpow$ki, AsSistant CRy Attome'"
EXHIBIT A
LEGAL DESCRIPTION: ROSS NORTON PARK
A. portion of the Southwest % of Section 22, Township 29 South,.Range16 East,
PineUas County, Florida, beIng more specifically described as follows:
The North Y:lof the Northwest % of the Southwest. % of Section 22, Township29
South,Rang~ 1.5 East. Pinellas County, Florida, together With the following
described tract of land:
From the SouthWest corner of the Northwest % of the Southwest.% of Section 22,
Township 29 South, Range 15 East, run thence NOO"19'55"E, along the sectlon
Iins, 210.00 feet; theneerun NeS11123'50"W, parallel totheNarthright-of-way line
of vvoodlawnAvenue and.to a Point on the East right-af-way line of Old Tampa
and Gulf Coast Railroad. 43.35 feet; thence run N12Q40'OfW, along said railroad
right-of-way, 14.42. feet; thence run along., a .curVe to the right of.sald railroad
right-of-way, chord bearing of N08"02'01'W, 229,03 feet,arc of 229.28 feet, and
radius 011417.69 feet; thence run along a curve to the left~Odsaid railroad right-
of-way, chord bearing of N06"53'OT'W, 176.00 teet, are of176.12feet and radius
of 1447.69 feet for the POINT OF BEGINNING; thenc;e.run along aCUNe to the
left and said railroad tight~of-Way..chof<:ll::>earing of Nll"'04'40"W,35.74f$et, arc
of 35.74 feet and radius or 1447.69 feet; thence run S89Q23'SO"E, parallel to the
North right~of-way line of Woodlawn Avenue, 660.60 feet; thence run
SOO"'19'SS"W. parallel to said secHon line. 35.00 feet; thence run N8~"23'S0"W,
parallel to the North right-of-way line of Woodlawn Avenue, 653.52 feet to the
POINT OF BEGINNING; LESS AND EXCEPT that portion of the herein
described tract lying weslof the. section line..
10-/
City Council
Cover Memorandum
CA1-
Tracking Number: 699
Actual Date: 08/05/2004
Subject / Recommendation:
Adopt Ordinance No, 7307-04 on second reading, amending schedule for Stormwater Utility
Rates.
Originating: City Attorney
Section: Second Readings - public hearing
Cateqorv: Code Amendments, Ordinances and Resolutions
Public Hearinq: Yes
Advertised Dates: 07/04/2004
07/25/2004
Financial Information:
Review Approval
Pam Akin
07-12-2004 16:29:34
Cvndie Goudeau
07-20-2004 08:36:47
ORDINANCE NO, 7307-04
AN ORDINANCE OF THE CITY OF CLEARWATER,
FLORIDA, RELATING TO THE SCHEDULE FOR
STORMWATER UTILITY RATES; AMENDING APPENDIX
A, ARTICLE XXV PUBLIC WORKS--FEES, RATES AND
CHARGES; SECTION (3)(e) STORMWATER
MANAGEMENT UTILITY RATES, CLEARWATER CODE
OF ORDINANCES; PROVIDING AN EFFECTIVE DATE.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY
OF CLEARWATER, FLORIDA:
Section 1. Appendix A, Article XXV, PUBLIC WORKS--FEES, RATES AND
CHARGES, Section (3)(e) Stormwater Management Utility Rates, Clearwater Code of
Ordinances, is amended as follows:
(3) Rates:
(e) Stormwater management utility rates. The stormwater management utility rates
shall be based upon the revenue requirements for the construction,
administration, management, engineering, operation and maintenance of the
stormwater management system, and the adopted capital improvement program
funding needs of the system. For the purposes of these rates, the terms shal/
have the meanings set forth in section 32.242 or, if not defined in section 32.242,
in sections 32.002 or 1.02.
1. Basic rate. The rate per month for one equivalent residential unit or ERU
shall be established as specified below:
Effective
1 /1m 04 1 0/1/G2: 05 10/1/00, 06 10/1 /G4-07 10/1 /Qa 08
$&:-:l-3 8.65 $-7-:49 9.35 $~ 9.63 $&ea 9.92 $~ 10.22
Per ERU
2. Residential property fees. The monthly fee for each residential property
shall be:
Single-family................ 1 ERU/dwelling unit
Duplex units ................ 1 ERU/dwelling unit
Condominium units....... 1 ERU/dwelling unit
Apartments .................. 1 ERU/dwelling unit
Mobile homes .............. 1 ERU/dwelling unit
3. Nonresidential property fees. Nonresidential property shall be charged on
the basis of the impervious area of the property in accordance with the
following formula:
Ordinance No. 7307-04
Impervious area (sq. ft.) divided by 1,830 sq. ft. = Number of ERU's. A
minimum value of 1.0 ERU shall be assigned to each nonresidential
property. The impervious area of each nonresidential property shall be as
determined by the city engineer. ERU's shall be rounded to the nearest
one-tenth of a unit.
4. Undeveloped property. Stormwater management utility fees shall not be
levied against undeveloped property pursuant to this article.
Section 2. This ordinance shall take effect immediately upon adoption.
PASSED ON FIRST READING
PASSED ON SECOND AND FINAL
READING AND ADOPTED
Brian J Aungst
Mayor
Approved as to form:
Attest:
Leslie K. Dougall-Sides
Assistant City Attorney
Cynthia E. Goudeau
City Clerk
2
Ordinance No. 7307-04
to'l...
City Council
Cover Memorandum
CA3
Tracking Number: 700
Actual Date: 08/05/2004
Subject / Recommendation:
Adopt Ordinance No. 7320-04 on second reading, vacating the east three feet of the 5-foot
drainage and utility easement lying along the west property line of Lot 9, Block 13, Mandalay
Subdivision.
Oriainating: City Attorney
Section: Second Readings - public hearing
Cateaorv: Code Amendments, Ordinances and Resolutions
Public Hearing: Yes
Advertised Dates: 07/04/2004
07/25/2004
Financial Information:
Review Aooroval
Cvndie Goudeau
07-20-2004
08:34: 12
ORDINANCE NO, 7320-04
AN ORDINANCE OF THE CITY OF CLEARWATER,
FLORIDA, VACATING THE EAST THREE FEET OF THE 5-
FOOT DRAINAGE AND UTILITY EASEMENT LYING
ALONG THE WEST PROPERTY LINE OF LOT 9, BLOCK
13, MANDALAY SUBDIVISION; PROVIDING AN
EFFECTIVE DATE.
WHEREAS, Robert L. and Ingrid S. Henigar, owners of real property located in the
City of Clearwater, have requested that the City vacate the drainage and utility easement
depicted in Exhibit A attached hereto; and
WHEREAS, the City Council finds that said easement is not necessary for
municipal use and it is deemed to be to the best interest of the City and the general public
that the same be vacated; now, therefore,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY
OF CLEARWATER, FLORIDA:
Section 1. The following:
The east three (3) feet of the 5-foot drainage and utility easement lying
along the west property line of Lot 9, Block 13, Mandalay Subdivision as
recorded in Plat Book 14, Pages 32 through 35, Public Records of Pinellas
County, Florida
is hereby vacated, and the City of Clearwater releases all of its rights in the servitude as
described above to the owner of the servient estate thereto.
Section 2. The City Clerk shall record this ordinance in the public records of
Pinel/as County, Florida, following adoption.
Section 3. This ordinance shall take effect immediately upon adoption.
PASSED ON FIRST READING
PASSED ON SECOND AND FINAL
READING AND ADOPTED
Brian J. Aungst
Mayor
Approved as to form:
Attest:
Bryan D. Ruff
Assistant City Attorney
Cynthia E. Goudeau
City Clerk
Ordinance No. 7320-04
I \ . I
City Council
Cover Memorandum
C41.
Tracking Number: 712
Actual Date: 08/05/2004
Subject / Recommendation:
Approve settlement of Poling v. City (personal injury action) in amount of $37,500.00.
Summary:
On March 19, 2002, a City gas vehicle was involved in an accident with a vehicle owned and
operated by Kelly Poling. The City vehicle was backing from a driveway onto Michigan Avenue in
Palm Harbor when it struck the Poling vehicle. The damage to Poling's vehicle rendered it a total
loss.
Kelly Poling sustained multiple soft tissue inuries to her neck and back. She has undergone
conservative treatment and has reached her maximum level of improvement with a total body
impairment of 7%. Ms. Poling incurred $23,120.56 in verified medical expense, and $11,243.56
in past wage loss. The settlement would cover property damage, all past medical expense and
wage loss, as well as future medical expense, future wage loss, and pain and suffering.
The City's limit of liability as provided by Section 768.28, Florida Statutes is $100,000. Plaintiff
Kelly Poling has agreed to accept $37,500 for the full and complete settlement of her claim. The
City's Risk Management Division and the City's Claims Committee recommend this settlement.
Funding for the payment of this settlement is available in the budget for claims expense in the
Central Insurance Fund.
Originating: City Attorney
Section: Consent Agenda
Cateaory: Agreements/Contracts - with cost
Public Hearing: No
Financial Information:
~ Operating Expenditure
Bid Reauired? No
Bid Exceotions:
Sole Source
In Current Year Budget?
Yes
Budget Adiustment:
No
Current Year Cost:
$37,500.00
l
City Council
Cover Memorandum
For Fiscal Year:
10/01/2003 to 09/30/2004
Total Cost:
$37,500.00
Appropriation Code(s)
590-07000-545900-519-000
Amount
$37,500.00
Comments
Review Aooroval
Pam Akin
07-12-2004 16:52:27
Tina Wilson
07-13-2004 07:43:08
Cyndie Goudeau
07-20-2004 10:01:12
n.t..
rDl
City Council
Cover Memorandum
Tracking Number: 713
Actual Date: 08/05/2004
Subject / ReCommendation:
Award a contract in the amount of $254,448.00 to American LaFrance Medic Master of Sanford,
Florida for the purchase of two 2004 Freightliner M-2 business class Advanced Life Support
Rescue Unit in accordance with Florida Fire Chiefs Association, Florida Sheriffs Association, and
the Florida Association of Counties Bid 3 (03-04-0820)and authorize the appropriate officials to
execute same.
Summary:
Rescue 45 is an existing response unit, a 1999 FORD light duty utility body vehicle, with a 5-year
life expectancy. The existing vehicle has reached scheduled replacement, This vehicle receives
high use in Clearwater, with several high-speed thoroughfares within its district, handling
substantial trauma events that require rapid transport to a trauma center. Rescue 50 is a 1999
FORD light-duty utility transport-capable vehicle, also with a 5-year life expectancy. The existing
vehicle has also reached scheduled replacement.
This scheduled replacement will upgrade one unit (Rescue 45) with more functional capabilities
and replace an existing transport capable unit (Rescue 50), providing both with the ability to
transport patients. Medium duty transport-capable vehicles have been shown to better meet
Clearwater's needs in certain applications. Multifunctional units provide all existing capabilities,
as well as the following uses:
Immediate transportation potential of a trauma patient from the scene of injury
Longer unit life expectancy, (extends useful emergency life cycle from 5 to 7 or more years)
Increased capacity to manage special needs evacuation during Hurricane Emergency
Immediate sheltering from adverse weather during out-of-doors emergencies
Air conditioned exam area for fire rehabilitation sectors during large scale fires
Training and evaluation opportunity for additional riders
This purchase to be funded from project code 315-91236 $220,000.00
The available balance in project 315-91236, Rescue Vehicle is $220,000. Funding for the balance
of this contract will be provided by transferring $34,448 from capital improvement project
315-91221, EMS Capital Equipment, to capital improvement project 315-91236, Rescue Vehicles.
Oriqinatinq: Fire and Rescue Department
Section: Consent Agenda
Category: Basic Purchasing item
Public Hearinq: No
Financial Information:
~ Capital Expenditure
Bid Required? No
City Council
Cover Memorandum
Bid Exceptions:
Other Government Bid
Other Contract?
Florida Association of Counties Bid 3 (03-04-0820)
In Current Year Budget?
Yes
Budqet Adiustment:
No
Current Year Cost:
$254,448.00
Annual Operating Cost:
$0.00
Appropriation Coders)
315-91236
315-91221
Amount
$220,000.00
$34,448.00
Comments
Transfer from EMS Capital Equipment
Review Approval
Rowland Herald
Bill Horne
07-12-2004 15:40:45
07-29-2004 14:21:43
07-13-2004 10:39:47
07-28-2004 15:49:04
07-14-2004 14:10:58
07-29-2004 12:06:33
Cvndie Goudeau
Georqe McKibben
Garrv Brumback
Tina Wilson
l[.~
I _
City Council
Cover Memorandum
FNi
Tracking Number: 702
Actual Date: 08/05/2004
Subiect / Recommendation:
Declare surplus to the needs of the City and authorize disposal through sale at the Tampa
Machinery Auction, Tampa, Florida, the attached list of vehicles and equipment.
Summary:
See attached list.
Oriqinatinq: Finance
Section: Consent Agenda
Category: Other
Public Hearinq: No
Financial Information:
~ Other
Bid Exceptions:
Other
Other Contract?
None
Review Aporoval
Marcie Simmons
07-12-2004
17:22:11
Bill Horne
07-20-2004
21:50:42
Cvndie Goudeau
07-21-2004
16:29: 14
Garry Brumback
07-19-2004
14:57:35
Surplus for August 5 Council Meeting
I I I I REASON FOR
ITEM # G# I YEAR I DESCRIPTION SERIAL NUMBER I MILEAGE I SURPLUS / DISPOSAL
1 G0173 1993 FORD CROWN VIC POLICE CAR 2FACP71WOPX126526 80,089 AGE & CONDITION
2 G0300 1988 Ford E150 CARGO VAN 1 FTEE14Y8JHC22642 65,486 AGE & CONDITION
3 G0340 1991 Linear Dynamics Paint Striper A109 N/A Age& Condition
4 G0389 1980 Mac Trailer Mounted Pump 276 N/A Age& Condition
5 G0393 1983 Mac Trailer Mounted Pump 382 N/A Bad Injector Pump
6 G0431 1980 Ford F700 w/National Crane F70HVJD6401 32,986 Crane worn out
7 G0907 1989 Chevolet C70 Dump Truck 1GBJ7D1BOKV100472 72,650 Age& Condition
8 G1008 1991 CHEVROLET CAPRICE 4 Dr, 1G1BL5374MR139077 59,483 AGE & CONDITION
9 G1021 1994 Ford RANGER PICKUP 1 FTCR 1 OU 1 RT A63728 79,758 AGE & CONDITION
10 G1022 1994 F350 CREW CAB w/utility body 1 FT JW35H8REA4 7814 72,231 AGE / BAD TRANSMISSION
11 G1083 1987 Case 25x4XP Trencher 1248486 N/A Age& Condition
12 G1119 1994 RANGER PICKUP 1 FTCR1 OU4RUD34825 86,096 AGE & CONITION
13 G1263 1990 Ford F250 w/UTILlTY BODY 1 FTHF25Y2LNB34897 50,219 Condition/Rusted
14 G1266 1992 Ford F250 w/UTILlTY BODY 1 FTHF25H1 NNA87896 48,598 Condition/Rusted
15 G1267 1992 Ford F250 w/UTILlTY BODY 1 FTHF25H8NNA87894 78,773 Condition/Rusted
16 G1268 1992 Ford F250 w/UTILlTY BODY 1 FTHF25HXNNA87895 46,843 Condition/Rusted
17 G1461 1995 Ford F250 w/UTILlTY BODY 1FTHF25H8SNA96848 91,500 AGE & CONDITION
18 G1558 1996 DODGE DAKOTA PICKUP 1B7FL26X4TS607397 100,984 AGE & CONDITION
19 G1587 1996 CHRYSLER EAGLE VISON 4 Dr 2E3HD56FXTH229103 79,744 AGE & CONDITION
20 G1630 1996 FORD CROWN VIC POLICE CAR 2FALP71WOTX160332 82,519 AGE & CONDITION
21 G1638 1996 FORD CROWN VIC POLICE CAR 2FALP71W6TX160321 85,150 AGE & CONDITION
22 G1685 1996 FORD RANGER Pickup WfTOPPEF 1 FTCR1 OXOTUB86707 96,447 AGE & CONDITION
23 G1745 1997 FORD CROWN VIC POLICE CAR 2FALP71W1VX120411 98,367 AGE & CONDITION
24 G1931 1998 FORD CROWN VIC POLICE CAR 2FAFP71W5WX137534 86,611 AGE & CONDITION
25 G1940 1998 Crane Carrier Frontloader ICYFCL486WT080610 44,520 ge & Conditionl/Major repairs
26 G1941 1998 Crane Carrier Frontloader ICYFCL48XWT080609 40,628 ge & Conditionl/Major repairs
27 G1942 1998 Crane Carrier Frontloader ICYFCL488WT080608 48,222 ge & Conditionl/Major repairs
28 G2451 1996 John Deere 1070 Tractor 161360 N/A Not feasible to repair
29 2 Pallets consisting of 9 Federal Vector Emergency Light Bars N/A Worn out & Obsolete
30 BEAR I I BATTERY / CHARGING Analyzer N/A Not feasible to repair
I I
1---
i
1\'4
City Council
Cover Memorandum
FN2-
Trackino Number: 706
Actual Date: 08/05/2004
Subiect / Recommendation:
Approve payment of $85,000 to settle the liability claim of Lesa Neal and Gary Neal and authorize
the appropriate officials to execute same.
Summary:
On February 25, 2002, a police vehicle attempted to avoid a traffic backup on Southbound US 19
by riding on the shoulder of the road. Lesa Neal was making a left turn from Northbound US 19
into Autoway Dodge, when she was hit by the police vehicle.
Lesa Neal sustained multiple soft tissue inuries to her neck, back, jaw, hand, wrist, and shoulder.
Ms. Neal underwent two surgeries for her shoulder injury. All other injuries were treated
conservatively. Ms. Neal incurred $56,618 in verified medical expense.
The City's limit of liability as provided by Section 768.28, Florida Statutes is $200,000, Lesa Neal
and her husband, Gary Neal, have agreed to accept $85,000 for the full and complete settlement
of their claim. The City's Risk Management Division and the City's Claims Committee recommend
this settlement.
Funding for the payment of this settlement is available in the budget for claims expense in the
Central Insurance Fund.
Orioinatino: Finance
Section: Consent Agenda
Category: Agreements/Contracts - with cost
Public Hearino: No
Financial Information:
~ Other
Bid Reouired? No
Bid Exceptions:
Other
Other Contract?
contract
In Current Year Budget?
Yes
Budget Adjustment:
No
City Council
""",",}~,g,~,!:!,~,!,,~,2,~,!rw~~!!!!2I!Ild ~J!!.
Current Year Cost:
$85,000.00
For Fiscal Year:
10/01/2003 to 09/30/2004
Total Cost:
$85,000.00
Not to Exceed:
$85,000.00
Appropriation Code(s)
590-07000-545900-519-000
Amount
$85,000.00
Comments
Review Approval
Maraie Simmons
Dick Hull
07-09-2004 18: 18:42
07-21-2004 16:29:55
07-12-2004 10:48:35
07-19-2004 14:50:01
07-12-2004 12:06:31
07-20-2004 21:50:06
Cvndie Goudeau
Tina Wilson
Garrv Brumback
Bill Horne
ll.5
City Council
Cover Memorandum
PD1-
Tracking Number: 707
Actual Date: 08/05/2004
Subiect / Recommendation:
Approve a donation to Clearwater Homeless Intervention Project, Inc. (CHIP) for funding of
operations in the amount of $100,000.00.
Summarv:
1. The Clearwater Homeless Intervention Project Shelter opened In April 1998, and since that
date has provided a safe overnight facility for homeless persons and essential support services to
help individuals and families begin to improve their lives.
2. The City of Clearwater donated the first $100,000 to CHIP in January 1998 and, at this time,
the police department is requesting that the City continue their contribution to the shelter for
operational funds which are still needed and are essential to CHIP's successful operation.
3. Funding for this donation in the amount of $100,000.00 is available in the Special Program
project 181-99938, Homeless Shelter.
Originating: Police
Section: Consent Agenda
Category: Basic Purchasing item
Financial Information:
~ Other
Bid Required? No
Bid Exceptions:
Sole Source
In Current Year Budoet?
Yes
Current Year Cost:
$100,000.00
Total Cost:
$100,000.00
Appropriation Code(s)
181-99938-582000-521-000
Amount
$100,000.00
Comments
Donation to CHIP's
Review Approval
Georqe McKibben
07-12-2004
12:46:00
Garrv Brumback
Tina Wilson
Bill Horne
Cyndie Goudeau
City Council
Cover Memorandum
07-20-2004 08:55:38
07-13-2004 07:41: 11
07-20-2004 21:51:37
07-21-2004 16:28:22
i \.h
City Council
Cover Memorandum
EtJ6 Y
Trackinq Number: 630
Actual Date: 08/05/2004
Subiect / Recommendation:
Approve a 10 year lease, with Florida State Council Pentecostal Assemblies, Inc., of a portion of
Christ Temple Church property at 1304 North Martin Luther King, Jr. Avenue, legally described as
the East 36 feet of the North 50 feet of Lot 7, and the North 50 feet of Lot 8, LESS the East 5 feet,
Block 3, C. E. JACKSON'S SUBDIVISION, at $1,200 annual rent for a total cost of $12,000, and
authorize appropriate officials to execute same.
Summary:
In 1988 the North Greenwood Commercial District General Development Plan was created by the
North Greenwood Economic Task Force, Clearwater Neighborhood Housing Services and the
Neighborhood Re-Investment Corporation.
In 1989 the Clearwater Commission adopted the Penny For Pinellas Interlocal agreement and
allocated $300,000 of Penny funds for North Greenwood revitalization. In 1993 the North
Greenwood Merchants Association proposed development of two business district parking lots. The
subject parcel connects and unifies two City-owned parcels to facilitate construction of the
northernmost parking lot in 1994.
Lacking sufficient funds to purchase the entire church property in 1994 at its then appraised value
of $100,000, the City entered into the original lease that extended through May 19, 2004 at an
annual rental of $1,000.
The $1000 rental for the 4,050 square foot parcel was negotiated at about 20% of the 1993
assessed land value of $2.50 per square foot. The $1,200 per year renewal rate maintains the
same rent-to-Iand-value ratio at the current assessment of $3.00 per square foot.
The new lease will commence retroactively to expiration of the initial lease, and extend for a 10
year term to May 19, 2014 without further rent adjustment.
Sufficient funds are available in Housing Division CDBG - Public Facilities Project code
181-99414-582000-554-000 to fund initial year rental. Additional rent payments will be allocated
annually in future departmental budgets.
A copy of the lease agreement is available for review in the Office of Official Records and
Legislative Services.
Originating: Engineering
Section: Consent Agenda
Category: Real Property Basic Lease to the City
Number of Hard CODies attached: 1
Public Hearing: No
Financial Information:
~ Operating Expenditure
City Council
Cover Memorandum
Bid Required? No
Bid Exceotions:
Sole Source
In Current Year Budget?
Yes
Budqet Adjustment:
No
Current Year Cost:
$1,200.00
Annual Operatinq Cost:
$1,200.00
For Fiscal Year:
10/01/2004 to 09/30/2005
Total Cost:
$12,000.00
Not to Exceed:
$12,000.00
Appropriation Code(s)
181-99414-582000-554-000
$1,200,00
Comments
Initial year annual rent. Future payments
to be budgeted annually.
Amount
Review Approval
Howie Carroll
Ga rry Bru m back
05-27-2004 07: 51 :04
07-15-2004 10:11:18
07-22-2004 00:30:56
05-27-2004 10:37:47
07-22-2004 08:57:05
06-28-2004 15:56:58
07-21-2004 13:22:35
Laura Lioowski
Bill Horne
Michael Ouillen
Cvndie Goudeau
Tina Wilson
LOCATOR MAP
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BUSINESS LEASE CONTRACT
THIS LEASE CONTRACT, entered into this _ day of ,2004, between the
FLORIDA STATE COUNCIL OF THE PENTECOSTAL ASSEMBLIES OF THE WORLD, INC" a
corporation sole organized and existing under the laws of the State of Florida ("Lessor"), and the
CITY OF CLEARWATER, FLORIDA, a Florida municipal corporation ("Lessee"), collectively
("Parties").
WIT N E SSE T H:
That the Lessor does lease to the Lessee the following premises consisting of approximately
4300 square feet of land located at 1304 North Greenwood Avenue, Clearwater, Pinel/as County,
Florida, and being more specifically described as follows:
The East 36 feet of the North 50 feet of Lot 7, and the North 50 feet of Lot 8, LESS
the east 5 feet, Block 3, C, E, JACKSON'S SUBDIVISION, according to the plat
thereof as recorded in Plat Book 2, Page 96, Public Records of Hillsborough
County, Florida of which Pinellas County was formerly a part, the same being
depicted in EXHIBIT "A" appended hereto,
Such property shall hereinafter be referred to as the "lease premises" or "leased property."
1. LEASE TERM,
The term of this lease shal/ be for 10 years; which term will commence on the 20th day of May,
2004, and shall continue through midnight on the 19th day of May, 2014 (herein called the "initial
term"). The Lessee shall have the option to extend the term of this lease for one successive period
of 10 years (the "extended term"). No such renewal or extension shal/ be deemed a waiver by Lessor
of any breach or default which may then exist. The extended term shall be upon the same conditions
and terms, and the rent shall be determined and payable, as provided in this agreement, except that
there shall be no privilege to extend the term beyond the expiration of the extended term period as
hereinabove specified. The Lessee shall exercise the option for an extended term by notifying the
Lessor in writing at least two (2) calendar months prior to the expiration of the then current term.
Upon such exercise, this lease shall be deemed to be extended without the execution of any further
lease or other instrument. Failure to exercise the option as required herein shall nullify the option for
the extended term.
2. RENT.
The Lessee agrees to pay and the Lessor agrees to accept as rent during the initial term of
this lease the sum of Twelve Thousand and 00/100 Dol/ars ($12,000.00), the sufficiency of which is
hereby acknowledged. Initial annual payment of Twelve Hundred and 00/100 Dollars ($1,200.00) is
due within 15 days following execution of this lease by Lessee, and thereafter nine additional annual
payments of Twelve Hundred and 00/100 Dollars shall be due and payable on the 1 st day of May of
each succeeding year throughout the initial lease term. Should Lessee exercise its option to extend
this lease for an additional term as provided above, the rent for the extended term shall be
established at time of exercising the option so as to maintain the same ratio of annual rent to the then
assessed land value as determined by the Pinellas County Property Appraiser as the ratio of the
present annual rent; i.e., $0.279 per square foot to the current assessed value of $3.00 per square
foot.
3. USE OF PREMISES.
The premises are leased to Lessee solely for the following uses and no other use can be
made of the premises during the term without the written consent of the Lessor: The premises will be
integrated with Lessee owned property adjacent and contiguous on both the north and south of the
leased premises, the total to be utilized as a non-commercial parking facility (hereafter "parking lot")
available for patrons of neighborhood businesses and other recognized organizations, including but
not limited to the congregation, membership and invitees of Lessor. Lessee may make reasonable
rules and regulations concerning any and all the persons who may use the parking lot and the times
and manner in which it shall be used.
4. UTILITIES.
Water, sewer, electric and aI/ other utilities of any kind as are currently paid by each of the
parties shall remain unchanged and continue to be be billed to the respective party, notwithstanding
entry by the parties into this lease contract.
5. TAXES,
At the time of entry into this Lease contract both parties hereto are exempt from payment of ad
valorem and other taxes that may be levied on the property or the leasehold created by this
instrument. In the event that either party should lose such exemption, or convey title to a portion or aI/
of its property comprising the subject parking lot to a successor owner not similarly exempt, then the
successor owner shall be responsible for payment of any and all taxes lawfully imposed without
effect on any and other terms and conditions contained herein.
6. OBSERVANCE OF LAWS AND ORDINANCES.
Lessor and Lessee agree to respectively observe, comply with and execute promptly during the
term hereof, all laws, rules, requirements, orders, directives, codes, ordinances and regulations of
governmental authorities and agencies and of insurance carriers which relate to each party's use or
occupancy of the lease premises.
7. ASSIGNMENT OR SUBLEASE.
Lessee shall not, without first obtaining the written consent of Lessor, assign, mortgage,
pledge, or encumber this lease, in whole or in part, or sublet the premises or any part thereof, Lessor
expressly covenants that such consent to sublet shall not be unreasonably or arbitrarily refused, This
covenant shall be binding on the legal representatives of Lessee, and on every person to whom
Lessee's interest under this lease passes by operation of law.
If the premises are sublet or occupied by anyone other than Lessee, and Lessee is in default
hereunder, or if this lease is assigned by Lessee, Lessor may collect rent from the assignee,
subtenant, or occupant, and apply the net amount collected to the rent herein reserved. No such
collection shall be deemed a waiver of the covenant herein against assignment and subletting, or the
acceptance of such assignee, subtenant, or occupant as Lessee, or a release of Lessee from further
performance of the covenants herein contained.
Page 2 of 8
8. ALTERATIONS AND IMPROVEMENTS.
The Lessee shall not make any structural alterations or modifications or improvements which
are part of the leased property without the written consent of the Lessor, and any such modifications
or additions to said property shall become the property of the Lessor upon the termination of this
lease or, at Lessor's option, the Lessee shall restore the leased property at Lessee's expense to its
condition as existed prior to such alterations or modifications. The restrictions of this paragraph shal/
not apply to maintenance of the leased property, but shall apply to any change which changes the
architecture or purpose of the property. In the event Lessee desires to make any alterations or
modifications, written notice shall be given to the Lessor. Unless the Lessor objects to such
proposals by notice to Lessee within twenty (20) days after written notice from Lessee, the proposal
shall be deemed approved. Lessee shall have no power or authority to permit mechanics' or
materialmen's liens to be placed upon the leased property in connection with maintenance,
alterations or modifications. Lessee shall, within fifteen (15) days after notice from Lessor, discharge
any mechanic's liens for materials or labor claimed to have been furnished to the premises on
Lessee's behalf. Not later than the last day of the term Lessee shall, at Lessee's expense, remove all
of Lessee's personal property and those improvements made by Lessee which have not become the
property of Lessor, including trade fixtures and the like. All property remaining on the premises after
the last day of the term of this lease shall be conclusively deemed abandoned and may be removed
by Lessor and Lessee shall reimburse Lessor for the cost of such removal.
9. RISK OF LOSS.
All personal property placed or moved onto the lease premises shall be at the risk of the
Lessee or owner thereof. The Lessor shall not be responsible or liable to the Lessee for any loss or
damage that may be occasioned by or through the acts or omissions of persons occupying adjoining
premises or any part of the premises adjacent to or connected with the lease premises.
10. RIGHT OF ENTRY,
The Lessor, or any of its agents, shall have the right to enter said premises during all
reasonable hours, to examine the same to make such repairs, additions or alterations as may be
deemed necessary for the safety, comfort, or preservation thereof.
11. MAINTENANCE I RESTORATION,
Lessee represents that the lease premises are in good, sanitary and tenantable condition for
use by Lessee. Lessee's acceptance or occupancy of the leased premises shall constitute a
recognition of such condition. Lessee hereby accepts the premises in the condition they are in at the
beginning of this lease and agrees to maintain said premises in the same condition, order and repair
as they are at the commencement of said term, excepting only reasonable wear and tear arising from
the use thereof under this agreement. In consideration of Lessee entering into this lease contract,
and for the priviledge of Lessor's congregation, membership and invitees reasonable use thereof,
Lessor agrees to maintain the parking lot (EXHIBIT liB"), defined as encompassing and including all
of the following described parcels: C. E. JACKSON'S SUB. ,Block 3, Lots 9 & 10, LESS road on
north and east, said parcels being adjacent on the north to lease premises, and C. E. JACKSON'S
SUB., Block 3, the South 100 feet of Lots 5,6,7, and 8, LESS the East five feet of Lot 8, said parcels
being adjacent on the south to the lease premises, in a clean and orderly manner. Maintenance by
Lessor shall include both weekly landscape maintenance and litter control.
Page 3 of 8
12. INSURANCE.
Lessee shall maintain, or provide through self-funding, throughout the lease term and at
Lessee's sole expense, public liability insurance including bodily injury and property damage equal to
the maximum limits of liability provided for in Section 768.28, Florida Statutes, plus any excess
liability insurance coverage that may be purchased by Lessee. Any policies of insurance provided for
herein to be carried by Lessee shall be issued by insurance companies certified to do business by he
State of Florida and its insurance regulatory bodies; provided, however, lessee may self-fund any risk
provided for in this paragraph in lieu of purchasing insurance coverage therefore. Certificates of
insurance or letters of self-funding shal/ be delivered to Lessor within fifteen (15) days following
execution of this lease contract by Lessor and Lessee.
13. DESTRUCTION OF PREMISES.
In the event that the lese premises should be totally destroyed by fire, flood, earthquake or
other cause, to such an extent that it cannot be rebuilt or repaired within one hundred twenty (120)
days after the date of such destruction, either party may terminate this lease.
If, however, the improvements should be partially damaged by fire, flood, earthquake or other
cause, but only to such an extent that it can be rebuilt or repaired within one hundred twenty (120)
days after the date of such destruction, this lease contract shall be void or voidable, but not
terminated, except as otherwise provided herein. If the Lessor intends to rebuild or repair the
premises, Lessor shall, within fifteen (15) days after the date of such damage, give written notice to
Lessee of the intention to rebuild or repair and shall proceed with reasonable diligence to restore the
improvements to substantially the same condition as existed immediately prior to the destruction.
During the period of rebuilding or repairing, there shall be no diminution of rents. If, after rebuilding or
repairing has commenced, such rebuilding or repairing cannot be completed within one hundred
twenty (120) days after the date of commencement, either Lessor or Lessee, at their respective
option, may terminate the lease.
14. EMINENT DOMAIN.
If the whole or any part of the premises hereby leased shall be taken by any public authority
under power of eminent domain, then the term of this lease shall cease on the part so taken from the
date title vests pursuant to such taking, and the rent and any additional rent shall be paid up to that
day, and if such portion of the demised premises is so taken as to destroy the usefulness of the
premises for the purpose for which the premises were leased, then from that day the Lessee shall
have the right to either terminate this lease or to continue in possession of the remainder of the same
under the terms herein provided. The parties agree that the Lessee shall not be entitled to any
damages by reason of the taking of this leasehold, or be entitled to any part of the award for such
taking, or any payment in lieu thereof.
15. SUBORDINATION.
This lease and the rights of the Lessee hereunder are hereby made subject and subordinate
to all bona fide mortgages now or hereafter placed upon the said premises by the Lessor and any
other owner provided, however, that such mortgages wil/ not cover any fixtures or equipment on the
Page 4 of 8
lease premises owned by the Lessee. The Lessee further agrees to execute any instrument of
subordination which might be required by mortgagee of the Lessor.
16. DEFAULT; TERMINATION
(a) Termination by Lessor: Thjis lease contract shal/ be subject to termination by Lessor 1) in
the event of material default by Lessee in the performance of any of the terms, covenants or
conditions, and in the failure of Lessee to remedy, or undertake to remedy, to Lessor's commercially
reasonable satisfaction such default for a period of 30 days after receipt of notice from Lessor to
remedy same, or 2) in the event Lessee shall abandon or vacate the lease premises.
(b) Termination by Lessee: This agreement shall be subject to termination by Lessee in the
event of material default by Lessor in the performance of any of the terms, covenants or conditions,
and in the failure of Lessor to remedy, or undertake to remedy, to Lessee's commercial/y reasonable
satisfaction such default for a period of 30 days after receipt of notice from Lessee to remedy same.
(c) Exercise: Exercise of the rights of termination set forth in this Section shall be by notice
to the other party. Forbearance of timely notice shall not be deemed a waiver of any breach.
17. NOTICE
Any notice given by one party to the other in connection with the lease contract shall be sent
certified mail, return receipt requested, with postage and fees prepaid:
a) If to the Lesser, addressed to:
Dr. Earl Parchia
Pentecostal Assemblies of the World, Inc.
P. O. Box 68
Killarney, Florida 34740
b) If to the Lessee, addressed to:
City Attorney
City of Clearwater
P. O. Box 4748
Clearwater, FI. 33758-4748
18. MISCELLANEOUS
(a) Both the Lessor and Lessee shall have the unrestricted right of assigning this lease at any
time, and in the event of such assignment, the assignor shall be relieved of all liabilities hereunder.
(b) This contract shall bind the Lessor and its assigns or successors, and the Lessee and
assigns and successors of the Lessee.
(c) It is understood and agreed between the parties hereto that time is of the essence of this
contract and this applies to all terms and conditions contained herein.
(d) It is understood and agreed between the parties hereto that written notice sent by certified
or registered mail, or hand delivered to the office of the City Attorney, shall constitute sufficient notice
to the Lessee, and written notice sent by certified or registered mail or hand delivered to the office of
the Lessor shall constitute sufficient notice to the Lessor, to comply with the terms of this contract.
Page 5 of 8
(e) The rights of the Lessor under the foregoing shall be cumulative, and failure on the part of
the Lessor to exercise promptly any rights given hereunder shal/ not operate to forfeit any of the said
rights.
(f) It is hereby understood and agreed that any signs to be used by Lessee shall be subject to
the prior approval of the Lessor, which approval shall not be unreasonably wiwthheld.
(g) It is understood that no representations or promises shall be binding on the parties hereto
except those representations and promises contained herein or in some future writing signed by the
party making such representations or promises.
19. SUBROGATION,
The Lessor and Lessee do agree that each will cause its policies of insurance for fire and
extended coverage to be so endorsed as to waive any rights of subrogation which would be
otherwise available to the insurance carriers, by reason of any loss or damage to the lease premises
or property of Lessor. Each party shall look first to any insurance in its favor before making any claim
against the other party. Nothing contained herein shall in any way be considered or construed as a
waiver or release by the Lessor of any and all of the other covenants and conditions contained in this
lease to be performed by the Lessee.
20. ESTOPPEL LETTER.
In the event Lessor shall obtain a loan from an institutional lender, and if the following shall be
a requirement of such loan, the Lessee agrees to execute an estoppel letter in favor of the lender
verifying the standing of the lease, the terms thereof, and all amounts paid thereunder and such
other matters as may be reasonably requested.
21. INDEMNIFICATION.
The Lessee shall save and hold harmless the Lessor, its successors and assigns, from any
and all liability arising during the lease term from injury to person or property occasioned wholly or in
part by any negligent act or omission of the Lessee or Lessee's servants, agents and employees in
use of the premises described herein, provided, however, the Lessee shall not be liable to the Lessor
for any damage or injury to the extent that the Lessor's insurance provided coverage therefore, and
provided, further, that the Lessee shall not be liable for any negligence of teh Lessor, its servants,
agents, employees, successors or assigns, and provided, further, that the total amount to be
indemnified by the Lessee in any event under any circunstances shall not exceed the statutory limits
set forth in Section 768.28, Florida Statutes, plus any excess liability insurance coverage purchased
by Lessee.
22. "AS IS" CONDITION.
The Lessee accepts the leased premises on an "as is" basis, and Lessor shall have no
obligation to improve the leased premises preliminary to the commencement date of thsi lease.
Page 6 of 8
23. CONSTRUCTIVE EVICTION.
Lessee shall not be entitled to claim a constructive eviction from the premises unless Lessee
shall have first notified Lessor in writing of the condition or conditions giving rise thereto and, if the
complaints be justified, unless Lessor shall have failed within a reasonable time after receipt of such
notice to remedy such conditions.
24. SEVERANCE.
The invalidity or unenforceability of any portion of this lease shall in nowise affect the
remaining provisions and portions hereof.
25. CAPTIONS.
The paragraph captions used throughout this lease are for the purpose of reference only and
are not to be considered in the construction of this lease or in the interpretation of the rights or
obligations of the parties hereto.
26. NO HAZARDOUS MATERIALS.
The Lessee herewith covenants and agrees that no hazardous materials, hazardous waste, or
other hazardous substances will be used, handled, stored or otherwise placed upon the property or,
in the alternative, that such materials, wastes or substances may be located on the property, only
upon the prior written consent of the Lessor hereunder, and only in strict accord and compliance with
any and all applicable state and federal laws and ordinances. In the event such materials are
utilized, handled, stored or otherwise placed upon the property, Lessee expressly herewith agrees to
indemnify and hold Lessor harmless from any and all costs incurred by Lessor or damages as may
be assessed against Lessor in connection with or otherwise relating to said hazardous materials,
wastes or substances at anytime, without regard to the term of this lease. This provision shall
specifical/y survive the termination hereof.
27. CONFORMANCE WITH LAWS,
The parties mutually agree to comply with all applicable federal, state and local laws during the
life of this Contract.
28. ATTORNEY'S FEES.
In the event that either party seeks to enforce this Contract through attorneys at law, then the
parties agree that each party shall bear its own attorney fees and costs,
29. GOVERNING LAW.
The laws of the State of Florida shall govern this Contract; any action brought by either party
shall lie in Pinellas County, Florida.
Page 7 of 8
IN WITNESS WHEREOF, the parties hereto have executed this Contract as of the date set
forth above.
Countersigned:
CITY OF CLEARWATER, FLORIDA
By:
Brian J. Aungst
Mayor-Commissioner
William B. Horne II
City Manager
Approved as to form:
Attest:
Laura Lipowski
Assistant City Attorney
Cynthia E. Goudeau
City Clerk
FLORIDA STATE COUNCIL OF THE
PENTECOSTAL ASSEMBLIES OF
THE WORLD, INC,
By:
Witness signature
Dr. Earl Parchia, President and
Chairman of the Board
Print Witness name
Witness signature
Robert B. Thomas, Secretary
Print Witness name
Page 8 of 8
I i Q'1
City Council
Cover Memorandum
t:NG5
Trackina Number: 643
Actual Date: 08/05/2004
Subject / Recommendation:
Accept a sidewalk easement over and across a portion of the Northeast Y4 of the Northeat Y4 of
Section 21, Township 29 South, Range 15 East conveyed by Morton Plant Hospital Association,
Inc. in consideration of receipt of $1.00 and the benefits to be derived therefrom and authorize
the appropriate officials to execute same.
Summary:
In 2003 Morton Plant Hospital Association, Inc. ("Grantor") submitted a site plan for City approval
detailing plans to construct the Mary Ann and Bernard F, Powell Child Development Center at 510
"A" Street at its intersection with South Ft. Harrison Avenue.
The City issued building permit BCP 2003-06148 conditioned upon, along with other matters, the
applicant constructing a 4-foot wide sidewalk the length of the project's "A" street frontage in
adjacent public right-of-way.
Field discovery of utility conflicts at the intersection required the sidewalk connection to existing
Ft. Harrison sidewalk be constructed over and across a corner of Grantor's property.
The subject sidewalk easement conveys perpetual authority and responsibility for the City to
maintain and replace as necessary the sidewalk encumbering the project property.
A copy of the easement documentation is available for review in the Office of Official Records and
Legislative Services.
Originating: Engineering
Section: Consent Agenda
Cateaory: Agreements/Contracts - without cost
Number of Hard Copies attached: 1
Public Hearing: No
Financial Information:
Review Aoproval
Michael Ouillen 06-04-2004 09:47:39
Garrv Brumback 07-19-2004 13:40: 16
Laura Lioowski 06-08-2004 11 :09: 12
Bill Horne 07-20-2004 21 :49:09
Cyndie Goudeau 07-21-2004 16:31:04
Return to:
Earl Barrett
Engineering Department
City of Clearwater
P. O. Box 4748
Clearwater, FI. 34618-4748
RE: Parcel No. 21-29-15-34668-000-0030
II
SIDEWALK EASEMENT
II
FOR AND IN CONSIDERATION of the sum of One Dollar ($1.00) in hand paid to it, the
receipt of which is hereby acknowledged, and the benefits to be derived therefrom,
MORTON PLANT HOSPITAL ASSOCIATION, INC" a Florida corporation
326 Jeffords Street, Clearwater, FI, 33756
("Grantor"), does hereby grant and convey to the CITY OF CLEARWATER, FLORIDA, a
Florida Municipal Corporation ("Grantee"), an easement over, under and across the following
described land lying and being situate in the County of Pinellas, State of Florida, to wit:
A portion of the NEY4 of the NEY4 of Section 21, Township 29 South, Range 15 East,
Pinellas County, Florida, being more particularly described as follows:
From the Southwest corner of the NEY4 of the NEY4 of Section 21, Township 29 South,
Range 15 East, run S89016'07"E, 24 feet, more or less, to a 5/8" capped iron rod for a
POINT OF BEGINNING; said capped iron rod also being the southwest corner of Pinellas
County Parcel 21/29/15/34668/000/0030; run thence NOoo01'12"E, 14 feet; thence
Southeasterly 29', more or less, to the southerly boundary line of the NEY4 of the NEY4 of
said Section 21, Township 29 South, Range 15 East; thence N89016'07"W along said line,
25 feet to the POINT OF BEGINNING, as depicted in EXHIBIT "A" appended hereto and a
part hereof,
This easement is granted for installation and maintenance of a public sidewalk,
The CITY OF CLEARWATER, FLORIDA, shall have the right to enter upon the above-
described premises and to construct, install and maintain thereon such sidewalk and to inspect
and alter same from time to time.
Grantor warrants and covenants with Grantee that it is the owner of the fee simple title to the
herein described easement premises, that Grantor has full right and lawful authority to grant
and convey this easement to Grantee, and that Grantee shall have quiet and peaceful
possession, use and enjoyment of this easement.
It is expressly understood that Grantor reserves unto itself all rights of ownership of the
easement premises not inconsistent with the easement rights granted herein.
This easement is binding upon the Grantor, the Grantee, their successors and assigns.
The rights granted herein shall be perpetual and irrevocable and shall run with the land, except
by the written mutual agreement of both parties, or by abandonment of the easement premises
by Grantee.
IN WITNESS WHEREOF, the undersigned grantor has caused these presents to be
duly executed this day of , 2004.
Signed, sealed and delivered
in the presence of:
MORTON PLANT HOSPITAL
ASSOCIATION, INC,
WITNESS signature
By:
Print Witness Name
Phillip K. Beauchamp, President
WITNESS signature
Print Witness Name
STATE OF FLORIDA
: ss
COUNTY OF PINELLAS
The foregoing instrument was acknowledged before me this day of ,
2004 by Phillip K. Beauchamp, as President of Morton Plant Hospital Association, Inc., a Florida
corporation, who executed the foregoing instrument on behalf of said corporation, and who
acknowledged the execution thereof to be his free act and deed for the uses and purposes
therein expressed.
My Commission Expires:
Notary Public - State of Florida
Type/Print Name
[ ] Personally Known
[ ] Produced Identification
Type of Identification Produced
LOCATOR MAP
MORTON PLANT HOSPITAL ASSOCIATION - SIDEWALK EASEMENT
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City Council
Cover Memorandum
Et\J6b
Trackina Number: 661
Actual Date: 08/05/2004
Subject / Recommendation:
Accept a 20-foot wide Utility Easement to encumber a portion of the Northeast 114 of Section 18,
Township 29 South, Range 16 East conveyed by the Board of Trustees of St. Petersburg College in
consideration of receipt of $1.00 and the benefits to be derived therefrom.
Summary:
A public sanitary line extends from Drew Street right-of-way traversing the northeasterly corner of
the St. Petersburg College campus approximately 869 feet to Old Coachman Road.
An uneven settling of the pipe developed in the easterly portion of the line that reduced its
efficiency over time. Public Works Utilities Engineering initiated Project 02-0094-UT (SPJC
Sanitary Study) to refurbish the subject sanitary line.
To avoid open cutting and potentially damaging a signature tree line on the property, the project
will"pipe burst" the eastern 400 feet of existing pipe, withdrawing the old line as a new pipe is
fed into the voided space.
Upon discovery that the existing sanitary line had been constructed without grant of easement,
the St. Petersburg College Board of Trustees conveyed the subject easement to provide 10-foot
access each side of the installed utility to facilitate future maintenance and replacement as
necessary .
A copy of the easement documentation is available for review in the Office of Official Records and
Legislative Services.
Originating: Engineering
Section: Consent Agenda
Category: Agreements/Contracts - without cost
Number of Hard Copies attached: 1
Public Hearing: No
Financial Information:
Review Approval
Michael Ouillen 06-18-2004 09:57:18
Garrv Brumback 07-20-2004 10:22:20
Laura Lipowski 06-18-2004 11:59:40
Bill Horne 07-20-2004 21:46:27
Cyndie Goudeau 07-21-2004 16:33:28
EXHIBIT
"A"
This /s not a survey
NW CORNER
OF NE 1/4 OF
SEC 18-29-16
lS89'40'19"E_ _ _ _ _ ~R.!!i LINE OF Nf.1~E<2..18-29-16
32.42' ;!:
.....
....0
~~
~.IO", .S8~'!.0'19"E ~~ _,~
/ ~ 438.80'
J'l!:
;>.9;s~,
~-t 0$.
~, ~
N.T.S.
SOUTH R/W
NE CORNER
lOT 1, BlK F
EASTWOOD TERR.
3rd ADD.
P,B, 51-P,65
BASIS OF BEARINGS ~
~
S89'53'24"E
399.29'
.P
S89'38' 40"E
392.13'
20' UTiLITY EASEMENT J
~
a:
I-
(I)
W
UTILITY EASEMENT DESCRIPTION
A 20' UTILITY EASEMENT LYING 10 FEET EITHER SIDE OF THE FOLLOWING DESCRIBED LINE:
COMMENCE AT THE NORTHWEST CORNER OF THE NORTHEAST 1/4 OF SECTION 18, TOWNSHIP
29 SOUTH, RANGE 16 EAST; THENCE S89'40'19"E, ALONG THE NORTH LINE OF SAID
NORTHEAST 1/4, 32.42'; THENCE SOO'20'44"W, 50.00', TO THE NORTHEAST CORNER OF lOT
1, BLOCK F, EASTWOOD TERRACE, THIRD ADDITION, PLAT BOOK 51, PAGE 65, ON THE
SOUTH RIGHT-OF-WAY LINE OF DREW STREET; THENCE ALONG SAID SOUTH RIGHT-OF-WAY
LINE, S89'40'19"E, 438.80' TO THE INTERSECTION OF SAID SOUTH RIGHT-OF-WAY LINE AND
EXISTING SANITARY SEWER LINE, SAID POINT BEING THE POINT OF BEGINNING; THENCE
ALONG SAID SANITARY SEWER LINE BY THE FOllOWING THREE COURSES: (1) S49'52'05"E,
77.36'; (2) S89'38'40"E, 392.13'; (3) S89'53'24"E, 399.29' TO A POINT ON THE WEST
RIGHT-OF-WAY LINE OF OLD COACHMAN ROAD. SAID POINT BEING THE POINT OF ENDING.
",,,,,~-
l~sEA~"""
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CITY OF CLEARWATER, FLORIDA
PUBUC WORKS ADMINISTRATION
ENGINEERING
518 - TWP 295 - RNG 16E
PINELLA5 COUNTY, FLORIDA
SURVEYOR'S REPORT:
THIS LEGAL AND SKETCH IS FOR THE SOLE PURPOSE TO ESTABLISH THE 20 FOOT UTILITY EASEMENT
AS SHOWN ON MAP OF SURVEY.
MAP OF SURVEY
SEE SHEET 1 FOR REPORT.
SEE SHEET 2 FOR VICINITY MAP.
SEE SHEET 3 FOR MAP OF SURVEY.
UTILITY EASEMENT DESCRIPTION
A 20' UTILITY EASEMENT LYING 10 FEET EITHER SIDE OF THE FOLLOWING DESCRIBED LINE:
COMMENCE AT THE NORTHWEST CORNER OF THE NORTHEAST 1/4 OF SECTION 18, TOWNSHIP 29
SOUTH, RANGE 16 EAST; THENCE S89'40'19"E, ALONG THE NORTH LINE OF SAID NORTHEAST 1/4,
32.42'; THENCE SOO'20'44"W, 50.00', TO THE NORTHEAST CORNER OF LOT 1, BLOCK F, EASTWOOD
TERRACE, THIRD ADDITION, PLAT BOOK 51, PAGE 65, ON THE SOUTH RIGHT-OF-WAY LINE OF DREW
STREET; THENCE ALONG SAID SOUTH RIGHT-OF-WAY LINE. S89'40'19"E, 438.80' TO THE
INTERSECTION OF SAID SOUTH RIGHT-OF-WAY LINE AND EXISTING SANITARY SEWER LINE, SAID POINT
BEING THE POINT OF BEGINNING; THENCE ALONG SAID SANITARY SEWER LINE BY THE FOLLOWING
THREE COURSES: (1) S49'52'05"E, 77.36'; (2) S89'38'40"E, 392.13'; (3) S89'53'24"E, 399.29' TO A
POINT ON THE WEST RIGHT-OF-WAY LINE OF OLD COACHMAN ROAD. SAID POINT BEING THE POINT
OF ENDING.
THE MAP AND REPORT ARE NOT FULL AND COMPLETE WITHOUT THE OTHER.
THIS LEGAL AND SKETCH WAS PREPARED BASED ON THE FIELD SURVEY INFORMATION BY THE CITY
OF CLEARWATER SURVEY DIVISION, JOB #2001037, LAST DATE OF SURVEY 03/09/04.
DATA SOURCES:
THE BEARING BASIS ARE BASED ON THE SOUTH RIGHT-OF-WAY LINE OF DREW STREET BEING
ASSUMED AS S892'40'19"E, AS SHOWN ON MAP OF SURVEY.
NOTES:
1. USE OF THIS SURVEY BY ANYONE OTHER THAN THOSE PREPARED FOR/CERTIFIED TO, WILL BE THE
RE-USERS SOLE RISK WITHOUT LIABILITY TO THE SURVEYOR.
2. THERE MAY BE ADDITIONAL EASEMENTS AND/OR RESTRICllONS AFFECTING THIS PROPERTY THAT
MAY BE FOUND IN THE PUBLIC RECORDS OF THIS COUNTY.
3. PRINTED DIMENSIONS SHOWN ON THE SURVEY SUPERSEDE SCALED DIMENSIONS. THERE MAY BE
ITEMS DRAWN OUT OF SCALE TO GRAPHICALLY SHOW THEIR LOCATION.
4. LAST DATE OF FIELD WORK 03/09/04.
5. UNDERGROUND FOUNDATIONS AND THEIR LOCATIONS HAVE NOT BEEN DETERMINED OR LOCATED.
6. THIS IS NOT A BOUNDARY SURVEY.
7. NO INTERIOR MAPPING WAS SHOWN.
APPARENT PHYSICAL USE:
THE SUBJECT PROPERTY IS BEING USED AS THE SAINT PETERSBURG COLLEGE, LYING WITHIN THE
NORTHEAST 1/4 OF SECTION 18, TOWNSHIP 29 SOUTH, RANGE 16 EAST, PINELLAS COUNTY. FLORIDA.
EASEMENTS/RIGHT-OF - WA Y:
1. NO EASEMENT INFORMA 1l0N AFFECTING THE SUBJECT PROPERTY WAS PROVIDED TO THE
SURVEYOR.
2. NO DOCUMENTATION ON RIGHT-OF-WAY FOR DREW STREET AND OLD COACHMAN ROAD WAS
PROVIDED TO THE SURVEYOR.
ADDIllONS OR DELEllONS TO SURIlEY MAPS OR REPORTS BY OlHER lHAN lHE SIGNING PARTY OR PARllES IS
PROHIBIl[D W1lHOUT lHE WIllmN CONSENT Of lHE SIGNING PARTY OR PARllES.
lHlS SURIIEY NOT VAUO W1lHOUT lHE SlGNAlURE AND lHE ORIGINAl. RAISED SEAl. Of A Fl.ORIDA UCENSED
SURIlEYOR AND MAPPER.
lHOMAS L MAHONY
PROFESSIONAL SURIlEYOR ANO MAPPER
UCENSE NUMBER LS 5289
STAl[ Of Fl.ORIDA
DA l[ SIGNED
CITY OF CLEARWATER, FLORIDA
PUBLIC WORKS ADMINISTRATION
ENGINEERING
_.. wt SAINT PETERSBURG COLLEGE ..It
BVO 3/04
ctmCIDwt SURVEYOR'S REPORT -...
1LIot 2001037
_wt .....
1LIot lOf3
Return to:
Earl Barrett
Engineering Department
City of Clearwater
P. O. Box 4748
Clearwater, FI. 34618-4748
RE: Parcel No, 18-29-16-00000-120-0100 & 0300
II UTILITY EASEMENT II
FOR AND IN CONSIDERATION of the sum of One Dollar ($1.00) in hand paid to
it, the receipt of which is hereby acknowledged, and the benefits to be derived
therefrom,
BOARD OF TRUSTEES OF ST, PETERSBURG COLLEGE
p, 0, Box 13489, St. Petersburg, FI. 33733-3489
("Grantor"), does hereby grant and convey to the CITY OF CLEARWATER,
FLORIDA, a Florida Municipal Corporation ("Grantee"), a non-exclusive
easement over, under and across the following described land lying and being
situate in the County of Pinellas, State of Florida, to wit:
A 20' Utilitv Easement being a portion of the Northeast Y4 of Section
18, Township 29 South, Range 16 East, Clearwater, Pinellas County,
Florida as more particularly described and depicted in EXHIBIT" A"
appended hereto ("easement area"),
This easement is granted for construction, installation and maintenance of
sanitary facilities by Grantee.
The CITY OF CLEARWATER, FLORIDA, shall have the duty to maintain and
the right to enter upon the above-described premises and to construct, install
and maintain thereon such sanitary utilities, and to inspect and alter same from
time to time. In the exercise of rights granted herein Grantee shall in every
instance restore all physical impacts to the Easement Area to equal or better
condition as existed prior to the exercise of such rights.
C:\DOCUME-1\MONA-1.KAU\LOCALS-1 \Temp\FYI\OOOXUGXOID005V.DOC
1---
I
Grantor warrants and covenants with Grantee that it is the owner of the fee
simple title to the herein described Easement Area, that Grantor has full right
and lawful authority to grant and convey this easement to Grantee. It is expressly
understood that Grantor reserves unto itself aI/ rights of ownership of the
Easement Area not inconsistent with the easement rights granted herein.
This easement is binding upon the Grantor, the Grantee, their successors and
assigns. The rights granted herein shall be perpetual and irrevocable and shall
run with the land, except by the written mutual agreement of both parties, or by
abandonment of the Easement Area by Grantee.
IN WITNESS WHEREOF, the undersigned grantor has caused these presents to
be duly executed this day of , 2004.
Signed, sealed and delivered
I n the presence of:
BOARD OF TRUSTEES OF
ST, PETERSBURG COLLEGE
WITNESS signature
Print Witness Name
By:
Carl M. Kuttler, Jr., College President
& Secretary, Board of Trustees
WITNESS signature
Print Witness Name
STATE OF FLORIDA
: ss
COUNTY OF PINELLAS
The foregoing instrument was acknowledged before me this day of
, 2004 by Carl M. Kuttler, Jr., College President &
Secretary, Board of Trustees of St. Petersburg Col/ege, whom, being duly
authorized, executed the foregoing instrument on behalf of said institution, who
acknowledged the execution thereof to be his free act and deed for the uses and
purposes therein expressed, and who [ ] is personally known to me or who [ ]
did provide as identification.
My Commission Expires:
Notary Public - State of Florida
Type/Print Name
C:\DOCUME-1\MONA-1.KAU\LOCALS-1\Temp\FYI\OOOXUGXOI D005V,DOC
;. ,..
I/L'(
City Council
Cover Memorandum
EAlG7
Tracking Number: 665
Actual Date: 08/05/2004
Subiect / Recommendation:
Approve a contract with American Housing Corporation to sell Lots 47 & 48, Block F, GREENWOOD
PARK NO.2, for the total net sum of $25,002, and authorize appropriate officials to execute same
and any instruments related thereto as may be required for closing.
Summarv:
The Council declared the subject lots surplus to City needs on April 6, 2004 and authorized
offering them for sale by Invitation For Bid No. 17-04 at their minimum appraised value of
$10,000 per lot.
Three sealed bids were received at bid opening on June 3, 2004. One bid was not responsive to
the Invitation. A second bid was for $10,000 for Lot 48 only. The subject contract reflects the
American Housing Corporation ("Buyer") bid of $12,501 per lot.
The standard City purchase contract, without additional provisions, documents an all-cash
purchase that is anticipated to close within 30 days following the Effective Date.
Sale proceeds will be applied as follows: $400 will reimburse Miscellaneous Engineering project
315-92822 for incurred appraisal expenses. Housing rehab loan fund 686 will be reimbursed the
judgment principal balance of $5,760.11, along with interest of $1,413.50 that accrued from
October 1998 until the City acquired judgment title in June 2002. An additional $3228.35 will be
credited to fund 686 for reimbursement of taxes, fees, court costs and miscellaneous expenses.
The remaining $14,200.04 will be credited to General Fund surplus land sales revenue.
A copy of the contract is available for review in the Office of Official Records and Legislative
Services.
Originating: Engineering
Section: Consent Agenda
Cateaorv: Agreements/Contracts - without cost
Number of Hard Copies attached: 1
Public Hearina: No
Financial Information:
Review Aooroval
Michael Ouillen
06-16-2004
08:36:37
Cvndie Goudeau
07-22-2004
08:57:50
Laura Lioowski
07-12-2004
16:42:28
Garrv Brumback
07-21-2004
13:20:03
Tina Wilson
Bill Horne
City Council
Cover Memorandum
07-21-2004 11: 13:41
07-22-2004 00:29:34
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CONTRACT FOR SALE OF REAL PROPERTY
BY
THE CITY OF CLEARWATER, FLORIDA
PARTIES: The CITY OF CLEARWATER, FLORIDA, a Municipal Corporation of the State of Florida (herein "Seller" or "City"),
P. O. Box 4748, Clearwater, Florida 33758-4748, ATTENTION: City Manager, Phone: (727) 562-4050, and AMERICAN
HOUSING CORPORATION, a Florida corporation (herein "Buyer"), of 6580 72M Avenue North, Pinellas Park, Florida 33781,
Phone: (727) 546-6611, (collectively "Parties"), hereby agree that the Seller shall sell and Buyer shall buy the following real
property ("Real Property") and personal property ("Personalty") (collectively "Property") upon the following terms and
conditions.
THE "EFFECTIVE DATE" OF THIS CONTRACT IS THE DATE OF EXECUTION BY DULY
AUTHORIZED CITY OFFICIALS. TIME IS OF THE ESSENCE IN THIS CONTRACT.
Time periods of 5 days or less shall be computed without including Saturday, Sunday, or
national legal holidays and any time period ending on a Saturday, Sunday or national legal
holiday shall be extended until 5:00 P.M. ofthe next business day.
1, PROPFRTY nFSCRIPTION
LEGAL DESCRIPTION: Lot 47 and Lot 48, Block "F", GREENWOOD PARK NO.2, as recorded in Plat
Book 8, Page 16, Public Records of Pinellas County, Florida,
STREET ADDRESS (City/StatelZip): 1128 and/or 1130 Pine Bluff Street, Clearwater, FI. 33755
PERSONALTY: None (vacant parcel)
2. FULL PURCHASE PRICF .......................................,....................................................$ 2500200
3. MANNER OF PAYMENT
Total amount to be paid at closing in U.S. funds, cash, certified or
cashier's check, subject to adjustments and prorations................ ........ ".............. ...........$ 2500200
4. TIMF FOR ACCEPTANCE
Following execution of this contract by Buyer, the price, terms and conditions as contained herein shall remain unchanged
and be held unconditionally open for a period of 45 days following delivery in duplicate original to Earl Barrett, Real Estate
Services Manager of the City of Clearwater for acceptance and approval, or rejection by action of the Clearwater City Council
("Council"). If this agreement is accepted and approved by the Council, it will be executed by duly authorized City officials and
delivered to Buyer within 10 days thereafter. If the Council upon initial presentation rejects this contract, this contract shall be
null and void in all respects and Buyer shall be so informed in writing within 5 days of such action.
5. IIILE
Seller shall convey marketable title to the Property by Special Warranty Deed, subject only to matters contained in
Paragraph 6 and those otherwise accepted by Buyer. Otherwise title shall be free of liens, easements and encumbrances of
record or known to Seller, but subject to property taxes for the year of closing, if any; covenants, restrictions and public utility
easements of record; and no others; provided there exists at closing no violation of the foregoing and none of them prevents
Buyer's intended use of the Property infill residential development.
6. TITI F EVIDFNCF
Buyer may, at Buyer expense and within 10 days prior to closing date obtain a titie insurance commitment issued by a
Florida licensed title insurer agreeing to liens, encumbrances, exceptions or qualifications set forth in this Contract, and those
which shall be discharged by Seller at or before closing. Seller shall convey a marketable title subject only to liens,
encumbrances, exceptions or qualifications set forth in this Contract. Marketable title shall be determined according to
applicable Title Standards adopted by The Florida Bar and in accordance with law. Buyer shall have 5 days from receiving
evidence of title to examine it. If title is found defective, Buyer shall, within 3 days thereafter, notify Seller in writing specifying
defect(s). If the defect(s) render title unmarketable, Seller will have 120 days from receipt of notice within which to remove the
defect(s), failing which Buyer shall have the option of either accepting the title as it then is or withdrawing from this Contract.
Seller will, if title is found unmarketable, make diligent effort to correct defect(s) in title within the time provided therefore,
including the bringing of necessary suits,
1
7. CERTAIN RIGHT!'; RE!';FRVFn
As required by Section 270.11, Florida Statutes, the Seller reserves unto itself and its successors an undivided three-fourths
(3/4) interest in, and title in and to an undivided three-fourths (3/4) interest in, all the phosphate, minerals, and metals that are
or may be in, on or under the real properly described herein. and an undivided one-half (1/2) interest in all the petroleum that
is or may be in, on, or under said properly with the privilege to mine and develop the same. If the real property being conveyed
hereunder is less than 20 contigllOIJS acres is presently developed and/or there exists future development plans and there is
little likelihood of the presence of any of the minerals or petroleum contemplated by Section :170 11 Florida Statutes in all
sllch instances the City expressly releases the above descrihed rights Buyer petition for such release is evidenced hy
execution of this mntract
8. SURVFY
Buyer, at Buyer's expense, within time allowed to deliver evidence of title and to examine same, may have Real Property
surveyed and certified to the Buyer, Seller and closing agent by a registered Florida land surveyor. If survey shows any
encroachment on Real Property, or that improvements located on Real Properly encroach on setback lines, easements, lands
of others, or violate any restrictions, contract covenants or applicable governmental regulation, the same shall constitute a title
defect.
9. CI O!,;ING PI ACE AND DATE
Seller shall designate closing agent and this transaction shall be closed in the offices of the designated closing agent in
Pinellas County, Florida, on or before 30 days following Effective Date, unless extended by other provisions of this contract.
If either parly is unable to comply with any provision of this contract within the time allowed, and be prepared to close as set
forth above, after making all reasonable and diligent efforts to comply, then upon giving written notice to the other parly, time
of closing may be extended up to 45 days without effect upon any other term, covenant or condition contained in this contract.
10. CLOSING nOCUMFNTS
Seller shall furnish deed, bill of sale, mechanic's lien affidavit, assignments of leases, tenant and mortgage estoppel letters,
and corrective instruments as applicable to this transaction. Buyer shall fumish closing statement.
11. CL OSING EXPFNSFS
Recordation of the deed and Documentary stamps on the deed, unless this transaction is exempt under Chapter 201.24,
Florida Statutes, shall be paid by the Buyer. Seller shall pay the costs of recording any corrective instruments.
12. PRORATIONS; CREDITS
If there should exist any taxes, assessments, rent and other revenue specific to the Property, all of such expenses and
revenue shall be prorated through the day before closing. If the amount of taxes and assessments for the current year cannot
be ascertained, rates for the previous year shall be used with due allowance being made for improvements and exemptions.
Any deposits held by Seller in trust for third parties in occupancy of the Properly shall be credited to Buyer at time of closing.
Assessments for any improvements that are substantially complete at time of closing shall be paid in full by Seller.
13. PROPERTY CONnlTION
Seller shall deliver the Properly to Buyer at time of closing in its present "as is" condition, ordinary wear and tear excepted,
and shall maintain the landscaping and grounds in a comparable condition. Seller makes no warranties other than as
disclosed herein and marketability of title. Buyer's covenant to purchase the Properly "as is" is more specifically represented
in either subparagraph a. or b. as marked [X].
a. [ ] As Is: Buyer has inspected the Properly or waives any right to inspect and accepts the Properly in its present "as is"
condition.
b. [X] As Is With Right of Inspection: Buyer may, at Buyer expense and within 28 days from Effective Date
("lnspectionPeriod"), conduct inspections, tests, environmental and any other investigations of the Properly Buyer
deems necessary to determine suitability for Buyer's intended use. Seller shall grant reasonable access to the
Properly to Buyer, its agents, contractors and assigns for the purposes of conducting the inspections provided,
however, that all such persons enter the Properly and conduct the inspections and investigations at their own risk.
Seller will, upon reasonable notice, provide utilities services as may be required for Buyer's inspections and
investigations. Buyer shall not engage in any activity that could result in a mechanics lien being fiied against the
Properly without Seller's prior written consent. Buyer may terminate this contract by written notice to Seller prior to
expiration of the Inspection Period if the inspections and/or investigations reveal conditions that are reasonably
unsatisfactory to Buyer, unless Seller elects to repair of otherwise remedy such conditions to Buyer satisfaction. If
this transaction does not close, Buyer agrees, at Buyer expense, to repair all damages to the Property
resulting from the inspections and investigations and return the Properly to its present condition.
14. SFII FR HFI n HARMLESS
Buyer agrees to indemnify and hold harmless the Seller without limitation from any losses, damages, costs, including
attorney's fees, claims of injury to or death of any person(s}, any damage to property of Buyer, or the Properly, and from and
against any and every liability to any person arising from Buyer conduct of inspections, investigations and any other work
performed pursuant to Paragraphs 8 and 13 above.
2
15. RISK OF lOSS [WHERE APPLlCABL~
If the Property is damaged by fire or other casualty before closing and cost of restoration does not exceed 3% of the
assessed valuation of the Properly so damaged, cost of restoration shall be an obligation of the Seller and closing shall
proceed pursuant to the terms of this contract with restoration costs escrowed at closing. If the cost of restoration exceeds
3% of the assessed valuation of the improvements so damaged, Buyer shall have the option of taking the Properly "as is",
together with either the 3% or any insurance proceeds payable by virtue of such loss or damage, or of canceling this contract.
16. PROCE~DS OF SAI F' CI OSING PROCFnIlR~
The deed shall be recorded upon clearance of funds. Proceeds of sale shall be held in escrow by Seller's attorney or by
such other mutually acceptable escrow agent for a period of not longer than 5 days from and after closing, during which time
evidence of title shall be continued at Buyer's expense to show title in Buyer, without any encumbrances or change which
would render Seller's title unmarketable from the date of the last title evidence. If Seller's title is rendered unmarketable
through no fault of the Buyer, Buyer shall, within the 5-day period, notify the Seller in writing of the defect and Seller shall have
30 days from the date of receipt of such notification to cure the defect. If Seller fails to timely cure the defect, all funds paid by
or on behalf of the Buyer shall, upon written demand made by Buyer and within 5 days after demand, be returned to Buyer
and simultaneously with such repayment, Buyer shall retum Personalty and vacate Real Properly and reconvey it to Seller by
special warranty deed. If Buyer fails to make timely demand for refund, Buyer shall take title "as is", waiving all rights against
Seller as to any intervening defect except as may be available to Buyer by virtue of warranties contained in the deed. The
escrow and closing procedure required by this provision may be waived if title agent insures adverse matters pursuant to
Section 627.7841, F.S. (1987), as amended.
17. DEFAlJl T
If Buyer fails to perform this contract within the time specified (including payment of all deposit(s)}, the deposit(s} paid by
Buyer may be retained by or for the account of Seller as agreed upon liquidated damages, consideration for the execution of
this contract and in full settlement of any claims; whereupon, Buyer and Seller shall be relieved of all obligations under this
contract; or Seller, at Seller option, may proceed in equity to enforce Seller's rights under this contract. If, for any reason other
than failure of Seller to make Seller's title marketable after diligent effort, Seller fails, neglects or refuses to perform this
contract, the Buyer may seek specific performance or elect to receive the retum of Buyer deposit(s} without thereby waiving
any action for damages resulting from Seller's breach.
18. RADON GAS NOTIFICATION
RADON GAS: Radon is a naturally occurring radioactive gas that, when it has accumulated in a building
in sufficient quantities, may present health risks to persons who are exposed to it over time. Levels of
radon that exceed federal and state guidelines have been found in buildings in Florida. Additional
information regarding radon and radon testing may be obtained from your county public health unit.
19. CONTRACT NOT RECORDABI F' PFRSONS ROUND
Neither this contract nor any notice of it shall be recorded in any public records. This contract shall bind and inure to the
benefit of the parties and their successors in interest. Whenever the context permits, singular shall include plural and one
gender shall include all.
20. tID.IlCE
All notices provided for herein shall be deemed to have been duly given if and when deposited in the United States Mail,
properly stamped and addressed to the respective parly to be notified, including the parties to this contact, the parties
attorneys, escrow agent, inspectors, contractors and all others who will in any way act at the behest of the parties to satisfy all
terms and conditions of this contract.
21. ASSIGNARII ITY' PERSONS ROLJNn
This contract is [ ] assignable [ ] not assignable. The terms "Buyer", "Seller", and "Broker" (if any) may be singular or
plural. This Contract is binding upon Buyer, Seller, and their heirs, personal representatives, successors and assigns (if
assignment is permitted).
22. ATTORNEY FEES; COSTS
In any litigation arising out of this contract, the prevailing parly shall be entitled to recover reasonable attorney's fees and
costs.
23. NO RROKER
Seller and Buyer represent and agree they have dealt with no Broker or finder in connection with the transactions
contemplated hereby. Seller and Buyer further agree to indemnify the other from any damage, liability or expense either may
suffer as a result of any claim of a Broker or finder with whom it is determined that the other party has dealt with in
contravention of this agreement; except, however, that total City obligations under this provision shall be subject to the limits
and restrictions of the Florida sovereign immunity statute, F .S. 768.28.
3
24. TYPEWRITTEN OR HANnWRITTFN PROVISIONS
Typewritten or handwritten provisions shall control all printed provisions of contract in conflict with them.
25. EFFE'CT OF PARTIAl INVALIDITY
The invalidity of any provision of this contract will not and shall not be deemed to effect the validity of any other provision. In
the event that any provision of this contract is held to be invalid, the parties agree that the remaining provisions shall be
deemed to be in full force and effect as if they had been executed by both parties subsequent to the expungement of the
invalid provision.
26. GOVFRNING LAW
It is agreed by and between the parties hereto that this contract shall be governed by, construed, and enforced in
accordance with the laws of the State of Florida.
27. COIINTERPARTS' FACSIMIL F COPY
This contract may be executed in two or more counterparts, each of which shall be deemed an original and all of which
together shall constitute one instrument. A facsimile copy of this contract, including any addendum, attachments and any
written modifications hereof, and any initials or signature thereon shall be deemed an original.
28. SPECIAl CI AIISFS
[ X ] Not applicable, QB [ ] An Addendum containing special clauses that constitute agreements and covenants between
the parties is attached to and an integral part of this contract and without further acknowledgment is confirmed and accepted
by the parties. When any special clause in the Addendum is in conflict with any provision contained elsewhere in this contract,
then the special clause shall govern.
29. MERGER BY DFFD
All covenants, warranties, and representations contained herein shall merge with the deed at time of closing. Upon
delivery of deed by the City, and acceptance thereof by Buyer, the Buyer shall hold the City forever harmless thereafter.
30. FNTIRF AGRFFMENT
Upon execution by Seller and Buyer, this contract shall constitute the entire agreement between the parties, shall
supersede any and all prior and contemporaneous written and oral promises, representations or condition in respect thereto.
All prior negotiations, agreements, memoranda and writings shall be merged herein. Any changes to be made in this
agreement shall only be valid when expressed in writing, acknowledged by the parties and incorporated herein or attached
hereto.
THIS IS INTENDED TO BE A LEGALLY BINDING CONTRACT. IF NOT FULLY UNDERSTOOD,
SEEK THE ADVICE OF AN APPROPRIATE PROFESSIONAL FOR LEGAL, TAX, ENVIRONMENTAL
AND OTHER SPECIALIZED ADVICE PRIOR TO SIGNING.
AMERICAN HOUSING CORPORATION
FID # 59-2921828
Date:
,2004
By:
Stuart Cohen, Treasurer & Secretary
----------------------------------------------------------------------------------------------------------------------------------------------------------
APPROVED AND ACCEPTED THIS _ day of
,2004.
Countersigned:
CITY OF CLEARWATER, FLORIDA
By:
William B. Horne, II, City Manager
Brian J. Aungst, Mayor
Approved as to form:
ATTEST:
Laura Lipowski, Assistant City Attorney
Cynthia E. Goudeau, City Clerk
4
I; It.'"'
, \ LJ
City Council
Cover Memorandum
EtJ&~
Trackinq Number: 705
Actual Date: 08/05/2004
Subiect / Recommendation:
Approve a work order amendment for engineering design of the North Greenwood Traffic Calming
Design and Construction Administration Services (02-0055-EN) to Wade Trim of Tampa, Florida in
the amount of $37,249.00 and authorize the appropriate officials to execute same.
Summarv:
* This contract amendment is for miscellaneous additional engineering services needed for traffic
calming in the North Greenwood neighborhood and a sight distance safety improvement at the
intersection of Engman Street and Betty Lane.
* This traffic calming project is in response to long-standing resident requests for a solution to
speeding vehicles in this residential neighborhood.
* The North Greenwood neighborhood is ranked #1 for traffic calming by number of crashes.
* The Traffic Calming Plan was developed by neighborhood residents at a City-sponsored
charrette workshop, then field-verified by engineers.
* The Traffic Calming Plan was approved by petition signatures of 65% of the property owners of
North Greenwood neighborhood.
* The engineering design will be based on the neighborhood Traffic Calming Plan developed and
approved by consensus of the residents.
* Capital Improvement Program projects 315-92259 Traffic Calming and 315-92558 Intersection
Improvements have sufficient budget and revenue to fund this work order amendment.
* Work will commence upon award and execution of the Work Order; the additional design work
will be completed by April, 2005.
* A copy of the contract documents is available in the City Clerk's office for review.
Oriqinatinq: Engineering
Section: Consent Agenda
Category: Agreements/Contracts - with cost
Public Hearing: No
Financial Information:
~ Capital Expenditure
Bid Reauired? No
Bid Exceptions:
Other
City Council
Cover Memorandum
Other Contract?
North Greenwood Traffic Calming Design and Construction Administration Services
In Current Year Budget?
Yes
Annual Operating Cost:
$0.00
For Fiscal Year:
10/01/2004 to 09/30/2005
Total Cost:
$37,249.00
Appropriation Code(s)
315-92259-561200-541-000
315-92558-561200-541-000
Amount
$31,861.80
$5,387.20
Comments
Traffic Calming budget
Intersection Improvements fund
Review Aoproval
Michael Quillen
Bryan Ruff
07-12-2004 15:54:39
07-26-2004 10:06:39
07-16-2004 10:06:51
07-22-2004 09: 18: 12
07-16-2004 12:16:56
07-22-2004 21:37:18
Cvndie Goudeau
Tina Wilson
Garrv Brumback
Bill Horne
~: ErJ&~
July 14, 2004
Mr. Michael D. Quillen, PE
City Engineer
City of Clearwater
100 South Myrtle Avenue
Clearwater, FL 33756
Re: North Greenwood Neighborhood Traffic Calming Design and Construction Administration
Services - Work Order Amendment NO.1 Initiation Form
Dear Mr. Quillen:
Enclosed for your review are two (2) executed Work Order Amendment No.1 Initiation Forms for the
design of the North Greenwood Neighborhood Traffic Calming Plan located in the City of Clearwater. The
Work Order Amendment No. 1 Initiation Form has been prepared based on the following requirements:
. Traffic data required for roadway capacity analysis along Fairmont Street.
. Pinellas County Right-of-Way Utilization Permit required for intersection improvements at
Engman Street and Betty Lane including additional survey along Engman Street and outside the
right-of-way at the northwest corner of Betty Lane and Engman Street.
. Additional survey and right-of-way take sketches and descriptions for the roundabout at Fulton
and Fairmont intersection.
. Updating construction plans based on the City's 2003 Draft Policy on Tree Pruning, Planting and
Protection in Rights-of-Way.
. Three (3) additional topographical survey areas.
. Investigation of pedestrian safety devices to enhance motorists awareness of the Pinellas County
Trail Crossing at Fulton Avenue and Fairmont Street and crosswalk at the intersection of
Fairmont and Washington.
A Scope of Work, revised project schedule, and fee estimate is provided in the enclosure.
Thank you for the opportunity to assist the City on this assignment. Should you have any questions
concerning the enclosed materials, please do not hesitate to contact the undersigned or Mr. Greg Trim at
813.882.8366.
Sincerely,
WADE-TRIM, INC.
David B. Gildersleeve
Executive Vice President
GST:fs
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P:1AAA1000lGtrim\Final\Greenwood TC Design Amendment no.l Clearwater Template Format 07l404.doc
Enclosures
cc: Ken Sides, City of Clearwater
Greg Trim, Wade-Trim
[i]Wade- Trim
CITY OF CLEARWATER
PUBLIC WORKS ADMINISTRATION
WADE-TRIM WORK ORDER AMENDMENT NO.1
INITIATION FORM
Date: July 14, 2004
Project Number:CL W 2050.02M
City Project Number:
1. PROJECT TITLE: North Greenwood Neighborhood Traffic Calming Design and
Construction Administration Services - Amendment No.1.
2. SCOPE OF SERVICES:
In order to complete the design phase of the North Greenwood Neighborhood additional
services are required. This Work Order Amendment No.1 Initiation From has been
prepared on the following requirements:
1. Traffic data required for roadway capacity analysis along Fairmont Street.
2. Pinellas County Right-of-Way Utilization Permit required for intersection
improvements at Engman Street and Betty Lane including additional survey along
Engman Street and outside the right-of-way at the northwest comer of Betty Lane and
Engman Street.
3. Additional survey and right-of-way take sketches and descriptions for the roundabout
at Fulton and Fairmont intersection.
4. Updating construction plans based on the City's 2003 Draft Policy on Tree Pruning,
Planting and Protection in Rights-of-Way.
5. Three (3) additional topographical survey areas.
6. Investigation of pedestrian safety devices to enhance motorists awareness ofthe
Pinellas County Trail Crossing at Fulton Avenue and Fairmont Street and crosswalk
at the intersection of Fairmont and Washington.
I - PRE-DESIGN PHASE
Task 1- Continued project management and technical support.
Task 2- The Consultant proposes one meeting with representatives of the City as
follows:
1. Fairmont Street roadway capacity analysis meeting.
II - DESIGN PHASE
Task I-The additional topographical survey will be performed by John R. Beach
& Associates, Inc.; a Pinellas County based Surveying Company, who will
serve as a sub consultant to W ade- Trim on this assignment. The additional
survey will be incorporated into the original survey. This additional
survey should be on the same horizontal and vertical datum, per city
surveying standards. The CAD files and all associated electronic files will
be delivered with the 100% plans that are prepared and ready for bid. The
CAD files will meet the attached city standards.
III - FINAL DESIGN PHASE
Task I-Traffic data collection consisting of counts and vehicle characteristics will be
conducted along Fairmont Street between the intersections of Harbor Drive
and Fulton A venue. The traffic data will be analyzed to determine potential
impacts to the existing roadway capacity with the reduction from two lanes
to one lane in the westbound direction.
Task 2- Intersection sight distance improvements consist of raising the Engman
Street approach roadway profile and to modify the existing traffic railing
barrier along Betty Lane bridge structure over Stevenson's Creek. As part of
the proposed roadway profile adjustment, additional topographic survey and
elevations are required along Engman Street west and outside the existing
right-of-way along the north side of the corridor. The additional survey
information is necessary to complete the roadway profile adjustment and to
determine the drainage impacts caused by raising the roadway profile that
will require an evaluation of potential solutions to prevent behind the
sidewalk ponding. Modifications to the existing traffic railing barrier will
require a Right-Of-Way Utilization Permit from Pinellas County.
Task 3- To construct the roundabout at the intersection of Fairmont & Fulton,
additional right-of-way will be required from four (4) lots (#1, 2, 19, and 20)
within the Avondale Subdivision. Each lot will require additional survey
along the property frontages and a boundary survey in order to prepare right-
of-way description takes and sketches.
Task 4-In accordance with the City's 2003 Draft Policy on Tree Pruning, Planting
and Protection in Rights-of-Way, tree protection measures are necessary
when construction encroaches within the drip line of existing pines or 2/3 of
the drip line for hardwoods. To determine the existing tree drip line
perimeter, a field investigation is required to physically measure the tree
canopy. Based on the tree canopy size, an accurate tree protection barrier
can be shown on the plans and quantified. In addition, root pruning
quantities can be more accurately estimated.
Task 5- Two (2) additional topographical survey areas are required to
complete the final design.
Survey area no. I - Along Fulton Avenue, west of the Pinellas Trail
crossmg.
Survey area no. 2 - Lot no. 28 frontage area, Avondale Subdivision,
northwest comer ofFairmont Street and Harbor Drive.
Survey area no. 3 - Along Fairmont Street, west of Pin ell as Trail crossing.
Task 6-Pedestrian safety devices will be investigated to enhance motorist's
awareness of the Pinellas trail crossings at Fairmont Street and Fulton
Avenue and the existing crosswalk at Fairmont and Washington intersection.
Alternative devises will be examined and cost estimates established for the
City to review and determine if warranted for the project.
IV - BIDDING PHASE
Effort covered under original Work Order.
V - CONSTRUCTION PHASE
Effort covered under original Work Order
3. PROJECT GOALS:
As part of Work Order Amendment no. I traffic data consisting of counts and vehicle
characteristics will be obtained along Fairmount Street for capacity analysis purposes;
Additional survey information is necessary at Engman Street and N. Betty Lane in order to
complete intersection sight improvements and obtain Pinellas County Right-of-Way
Utilization Permit; Prepare four (4) Right-of-Way description takes and sketches at the
proposed roundabout intersection at Fairmont & Fulton; Update construction plans to
comply with the City's 2003 Draft Policy on Tree Pruning, Planting in Right-of-Way;
Additional survey information is required at two trail crossing locations and one residential
frontage lot; and investigate alternative safety devices that can be used at pedestrian
crossmgs.
A fee of $75 (miscellaneous work category) is required for the Pinellas County Right-of-
Way Utilization Permit that is good for 60 days from the date of the issuance of the permit.
W ade- Trim will submit construction plans at 90% completion stage to obtain the permit.
Should the project not commence within the 60 day time allocated, a re-issuance request
will need to be submitted with an additional $75 processing fee.
4. BUDGET:
This price includes all labor and expenses anticipated to be incurred by W ade- Trim for
the completion of these tasks, on a lump sum basis, for a fee of Thirty Seven
Thousand Two Hundred and Forty Nine ($37,249.00). The Consultant will pay a one
time $75 permit application fee to Pinellas County that will later be invoiced to the City
as a reimbursable
5. SCHEDULE:
The project schedule is contingent upon obtaining the necessary topographic survey and
traffic data information that will be utilized to complete the additional design tasks as
outlined above. Survey and traffic data collection requires approximately thirty (30)
calendar days to complete. To incorporate the design modifications in the 60%
construction plans will require approximately thirty (30) calendar days to complete. The
project is to be completed 126 days from issuance of notice- to-proceed. The project
deliverables are to be phased as follows:
90% construction plans and permit applications
City review of 90% construction plans
Final construction documents
60 calendar days
21 calendar days
45 calendar days
6. STAFF ASSIGNMENT
W ade- Trim
David B. Gildersleeve, Executive Vice President, Principal-in-Charge
Gregory S. Trim, PE, Project Manger (Engineer of Record)
Aaron Epperson, CAD Technician
City of Clearwater
Ken Sides, PE, PTOE, Project Manager
7. CORRESPONDENCEIREPORTING PROCEDURES:
Engineer's project correspondence shall be directed to Mr. Gregory S. Trim, PE. All City
project correspondence shall be directed to Mr. Ken Sides, PE, PTOE with copies to
others as may be appropriate.
8. INVOICING/FUNDING PROCEDURES:
Invoices shall be submitted monthly to the City of Clearwater, Attn: Marty Pages, 100 S.
Myrtle Ave., #220, Clearwater, Florida 33756-5520 or P. O. Box 4748, Clearwater,
Florida 33758-4748, for work performed. Invoices will be prepared monthly with
associated progress report with copies transmitted to Mr. Ken Sides, PE, PTOE.
City Invoicing Code: 315-92259-561200-541-000 $31.861.80
315-92558-561200-541-000 $5.387.20
9. ENGINEER CERTIFICATION:
Wade-Trim will certify as a licensed Professional Engineer, registered in accordance with
Florida Statute 471 (481), that the above project's construction plans meet or exceed all
applicable design criteria specified by City municipal ordinance, State, and Federal
established standards. We understand that it is our responsibility as the project's
Professional Engineer to perform a quality assurance review of these submitted plans to
ensure that such plans are free from errors and/or omissions.
This certification shall apply equally to any further revision and/or submittal of plans,
computations, or other project documents, which we may subsequently tender.
10 SPECIAL CONSIDERATIONS:
The City of Clearwater shall be responsible for the following materials and services in
support of this Work Order Amendment:
1. Evaluation of traffic data analysis, prepared by W ade- Trim, on the F airmont
Street roadway capacity impacts.
PREPARED BY:
APPROVED BY:
Gregory S. Trim, PE
Associate
W ade- Trim
Michael D. Quillen, PE
City Engineer
City of Clearwater
Date
Date
ATTACHMENT A
CITY OF CLEARWATER
NORTH GREENWOOD NEIGHBORHOOD TRAFFIC CALMING DESIGN AND
CONSTRUCTION ADMINISTRATION SERVICES - AMENDMENT NO.1
PROJECT BUDGET
WADE-TRIM
Sub consultant
Task Description Services Labor Total
1.0 Pre- Desien
1.1 Project Management Plan $3,090.50
1.2 Coordination $1,118.88
1.3 Meetings $568.32
1.4 Task Allowance (10%) $0
$4,777.70
2.0 Design
2.1 Ground Survevs (xvz, Inc.) $5,550.00 $0
2.2 Task Allowance (10%) $0
$5,550.00
3.0 Final Desien Plans and Specifications
3.1 Traffic Data & Analysis $6,831.68
3.2 (See Below)
3.3 Right-of-Way Descriptions & Sketches $4,795.20
Tree Canopy Investigation - City's 2003 Draft Policy on
3.4 Tree Pruning, Planting and Protection in Rights-of-Way $3,871.68
3.5 Additional Survey Areas - $$ covered under task 2.1
3.6 Research Pedestrian Crossings $3,327.04
3.7 Task Allowance (10%) $0
$18,825.60
Subtotal, Labor and Subcontractors $5550.00 $23,603.30 $29,153.30
Permit Review Fees $75.00
Other Direct Costs (prints, photocopies, postage, etc) $2,633.50
Subtotal Total for Traffic Calming $31,861.80
Engman Street/Betty Lane Intersection Improvements &
3.2 Permits $5,387.20
Subtotal, Labor and Subcontractors $5,387.20
Subtotal for Intersection Improvements $5,387.20
Grand Total $37,249.00
LL
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CITY OF CLEAR\V A TER
PUBLIC WORKS ADMINISTRATION
WORK ORDER AMENDMENT NO.1 INITIATION FORM
A TT ACHMENT "A"
FORMAT
The design plans shall be compiled utilizing one of the following two methods.
1. City of Clearwater CAD standards.
2. Pinellas County CAD standards
3. Datum: Horizontal and Vertical datum shall be referenced to North American Vertical
Datum of 1988 (vertical) and North American Datum of 1983/90 (horizontal). The unit of
measurement shall be the United States Foot. Any deviation from this datum will not be
accepted unless reviewed by City of Clearwater Engineering/Geographic Technology
Division.
DELIVERABLES
The design plans shall be produced on stable-based mylar or vellum material, 24" x 36" at a
scale of 1" = 20' unless approved otherwise. Upon completion the consultant shall deliver
all drawing files in digital format with all project data in Land Desktop (Land Desktop 2000
or later format, including all associated dependent files. When is not available, upon
approval by the City of Clearwater Project Manager, a standard ASCII file can be delivered
with all associated drawing and dependent files. The ASCII file shall be a comma or space
delimited containing code, point number, northing, easting, elevation and description for
each data point. Example below space delimited ASCII file:
POINT # NORTHING
284 1361003.838
EASTING
264286.635
ELEV
25.00
DESC
BCV
or comma delimited ASCII file:
284,361003.838,264286.635,25.00, BCV (PNEZD)
An AutoCAD Release 2000 or later drawing file shall be submitted. NOTE: If approved
deviation from Clearwater or Pinellas County CAD standards are used the consultant
shall include all necessary information to aid in manipulating the drawings including
either PCP, CTB file or pen schedule for plotting. The drawing file shall include only
authorized fonts, shapes, line types or other attributes contained in the standard
AutoDesk, Inc. release. All block references and references contained within the
drawing file shall be included. Please address any questions regarding format to Mr.
Tom Mahony, at (727)562-4762 or email address
mailto:tom.mahony@myc1earwater.com
~ All electronic files must be delivered upon completion of project or with 100%
plan submittal to City of Clearwater.
1--
II- II
City Council
Cover Memorandum
(;f\1GIV
Tracking Number: 718
Actual Date: 08/05/2004
Subiect / Recommendation:
Approve the amendment of the Capital Improvement Program (CIP) to restructure Stormwater
Utility funding by reducing project budgets by $28,930.09 of fee revenue, $89,563.00 of 1999
bond proceeds, $243,936.50 OF 2002 bond proceeds and $9,061,420.00 of 2004 bond proceeds
for a total decrease of $9,423,849.59 and increasing project budgets by $1,565,328.09 of fee
revenue, $89,563.00 of FY99 bond proceeds, $243,936.50 of 2002 bond proceeds, for a total
increase of $1,898,827.59, resulting in a net budget decrease of $7,525,022.00, and the
amendment to the Stormwater Maintenance (419-02090) 2004 operating budget to increase the
transfer of fee revenue to CIP projects by $1,536,398 from the retained earnings of the
Stormwater Utility Fund,
Summarv:
In 2001 the City Commission approved a series of storm water fee rate increases over a five-year
period beginning January 1, 2002 to provide funding for the operation and capital improvement
program of the Stormwater Utility Fund. The increases were based upon the 2001 rate study
prepared by Burton and Associates.
The 2001 rate study projected the need for $22,226,000 of stormwater revenue bond proceeds
to fund projects for FY2003 and FY2004. Resolution 02-51 was passed on November 21, 2002;
establishing the City's intent to reimburse certain stormwater project costs incurred with future
tax-exempt financing. The projects identified with 2004 revenue bonds as a funding source were
included in the project list associated with Resolution 02-51. Since November 2002 the list of
projects to be funded with 2004 revenue bond proceeds has been amended without changing the
total projected need of $22,226,000.
In 2004 Burton and Associates was contracted to prepare a rate study update to provide
funding projections for the five-year period of FY2005 through FY2009. Due to budgetary savings
in Stormwater operations, projects and additional grant funding the rate study update determined
that the need for revenue bond proceeds to fund 2003 and 2004 projects was reduced by
$9,061,420 to $13,164,580. Also the rate study updated identified projects requiring additional
funding by stormwater revenues in the amount of $1,536,398.
Third quarter amendments will increase or decrease the project budgets and revenues as
detailed on the attached schedule and increase the 2004 Stormwater Maintenance operating
budget by $1,536,398 for project funding with stormwater fee revenue. Sufficient operating cash
and retained earnings are available in the Stormwater Utility Fund to fund the $1,536,938.
The budget reductions for 2004 revenue bond proceeds will also require the transfer of some
open encumbrances and prior expenditures to related projects in
the CIP project fund 315.
Originatinq: Engineering
Section: Consent Agenda
Category: Rate/Fee Increases - All
Public Hearinq: No
City Council
Cover Memorandum
Financial Information:
~ Other
In Current Year Budaet?
No
Budget Adjustment:
Yes
Budget Adjustment Comments:
See summary and attachment.
Appropriation Code(s)
419-02090-590800-581-000
Amount
$1,536,398.00
Comments
Review Approval
Michael Ouillen
Garry Brumback
07-19-2004 16:36:45
07-20-2004 13:29:09
07-22-2004 21:41:59
07-19-2004 17:01 :36
07-26-2004 10:03:32
07-20-2004 08:33:32
07-22-2004 09:28:06
Pam Akin
Bill Horne
Maraie Simmons
Cvndie Goudeau
Tina Wilson
STORMWATER UTILITY FUND
PROJECT RESTRUCTURING PER 2004 RATE STUDY
ATTACHMENT FOR 8/05/04 AGENDA MEMORANDUM
Project Funding Budget Type of
Description Number Source Incr/(Decr) Budaet Amendment
Stormpipe System Improvements 315-96124 Stormwater Rev $ 3,173.00 budget and revenue
Stormpipe System Improvements 375-96124 99 Rev Bonds (2,360.58) budget and revenue
Stevenson Crk Estuary Restoration 315-96129 Storm water Rev (26,930.09) budget and revenue
Stevenson Crk Estuary Restoration 375-96129 99 Rev Bonds (82,302.96) budget and revenue
Stevenson Crk Estuary Restoration 377-96129 02 Rev Bonds (243,936.50) budget and revenue
Stevenson Crk Estuary Restoration 357-96129 04 Rev Bonds (6,132,765.02) budget only
FDEP Compliance 315-96137 Stormwater Rev 968,000.00 budget and revenue
FDEP Compliance 357-96137 04 Rev Bonds (968,000.00) budget only
Kapok Flood Resolution 375-96141 99 Rev Bonds (4,899.46) budget and revenue
Kapok Flood Resolution 357-96141 04 Rev Bonds (860,000.00) budget only
Stevenson Crk Implementation Projs 315-96144 Stormwater Rev (2,000.00) budget and revenue
Stevenson Crk Implementation Prejs 357-96144 04 Rev Bonds (173,000.00) budget only
Storm System Expansion 315-96149 Stormwater Rev 327,654.59 budget and revenue
Storm System Expansion 357-96149 04 Rev Bonds (327,654.98) budget only
Canterbury Rd Drainage Imprvmnts 315-96156 Stormwater Rev 266,500.50 budget and revenue
Canterbury Rd Drainage Imprvmnts 375-96156 99 Rev Bonds 89,563.00 budget and revenue
Canterbury Rd Drainage Imprvmnts 377-96156 02 Rev Bonds 243,936.50 budget and revenue
Canterbury Rd Drainage Imprvmnts 357-96156 04 Rev Bonds (600,000.00) budget only
$ (7,525,022.00)
Recap bY Revenue Type:
Stormwater Rev $ 1,536,398.00
99 Rev Bonds 0.00
02 Rev Bonds 0.00
04 Rev Bonds (9,061,420.00)
$ (7,525,022.00)
Ii. I L
City Council
Cover Memorandum
ErJG11
Tracking Number: 709
Actual Date: 08/05/2004
Subject / Recommendation:
Approve the preliminary plat for "Edgewater Townhomes", located on the southeast corner of
Union Street and Edgewater Drive, (A.K.A. 2095 Edgewater Drive),
Summary:
* The proposed subdivision is to be a replat of Lot 3, Rainbow's End subdivision.
* The plat was reviewed by the Development Review Committee on May 6, 2004.
* The subdivision plat is to enable the development of three townhomes on a 0.478
acre parcel of land.
* Present use of the property is one single family dwelling.
* A copy of the plat is available for review at the Office of Official Records and
Legislative Services.
Originating: Engineering
Section: Consent Agenda
Category: Plat Files
Number of Hard Copies attached: none
Public Hearing: No
Financial Information:
Review Aooroval
Glen Bahnick 07-12-2004 15: 50: 19
Frank Gerlock 07-16-2004 13:37:02
Bill Horne 07-22-2004 21:38:08
Glen Bahnick 07-13-2004 09:39:02
Cvndie Goudeau 07-26-2004 10:05:52
Michael Quillen 07-13-2004 11:09:18
Garry Brumback 07-22-2004 09: 19: 10
Location Map
Edgewater Townhomes
NORTH
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City of Clearwater, Florida
Public Works Administration/En ineerin
07/22/04 City of Clearwater 25lA
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S.D. 03-29-15
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City Council
Cover Memorandum
EtJt; 2
Trackina Number: 692
Actual Date: 08/05/2004
Subject / Recommendation:
Approve a contract with Clearwater Neighborhood Housing Services, Inc. ("CNHS") to sell
GREENWOOD PARK NO.2, Block D, Lot 37, a/k/a 1108 Engman Street for the total sum of
$10,500, including compliance with special qualifying criteria, and authorize appropriate officials
to execute same and any instruments related thereto as may be required for closing.
Summary:
The subject property, a vacant lot, was acquired by the City from Jeffrey J. Tomlinson in
September 1998 in consideration of the City canceling a lien in the amount of $1626.00 filed for
incurred expenses related to minimum housing code violations.
The parcel was declared surplus on September 18, 2003 and advertised for sale via Invitation For
Bid No. 32-03 at a minimum bid amount of $10,500 subject to special criteria requiring a
qualified developer utilize the property for affordable housing.
At bid opening on October 14, 2003 CNHS submitted a sealed bid that was non-responsive to
minimum bid requirements.
The City issued a second Invitation For Bid on May 31, 2004 and CNHS submitted the only sealed
bid at bid opening on June 17, 2004 that fully complied with bid requirements.
Among other provisions of the subject contract, CNHS has agreed that (a) the property will be
used for affordable housing purposes, (b) CNHS has the ability to screen potential owners to
insure they are eligible for state and federal assistance if such funds are utilized by the developer,
and (3) construction will commence by January 1, 2005, and if state and federal funds are used,
be completed by not later than July 1, 2006.
Net sale proceeds of $10,500 will accrue in the General Fund Land Surplus fund
010-00000- 364220-000-000.
A copy of the contract is available for review in the Office of Official Records and Legislative
Services.
Originatina: Engineering
Section: Consent Agenda
Category: Agreements/Contracts - without cost
Number of Hard Copies attached: 1
Public Hearina: No
Financial Information:
Review Approval
Michael Ouillen
07-12-2004
10:40:31
Cvndie Goudeau
07-26-2004
10:01:53
Laura LiDowski
Garrv Brumback
Tina Wilson
Bill Horne
City Council
Cover Memorandum
07-19-2004 10:23:43
07-22-2004 09:26:03
07-20-2004 13:19:09
07-22-2004 21:45:22
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SURPLUS PROPERTY
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N. GREENWOOD
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CONTRACT FOR SALE OF REAL PROPERTY
BY
THE CITY OF CLEARWATER, FLORIDA
PARTIES: The CITY OF CLEARWATER, FLORIDA, a Municipal Corporation of the State of Florida (herein
"Seller" or "City"), P. O. Box 4748, Clearwater, Florida 33758-4748, and CLEARWATER NEIGHBORHOOD
HOUSING SERVICES, INC., a Florida not-for-profit corporation, 608 North Garden Avenue, Clearwater, FI.
33755 (herein "Buyer"), (collectively "Parties"), hereby agree that the Seller shall sell and Buyer shall buy the
following real property ("Real Property") and personal property, if any ("Personalty") (collectively "Property") upon
the following terms and conditions.
THE "EFFECTIVE DATE" OF THIS CONTRACT IS THE DATE OF EXECUTION BY
DULY AUTHORIZED CITY OFFICIALS. TIME IS OF THE ESSENCE IN THIS
CONTRACT.
Time periods of 5 days or less shall be computed without including Saturday,
Sunday, or national legal holidays and any time period ending on a Saturday,
Sunday or national legal holiday shall be extended until 5:00 P.M. of the next
business day.
1. PROPERTY DFSCRIPTION
LEGAL DESCRIPTION: GREENWOOD PARK NO.2, Block D, Lot 37 according to the Plat thereof as
recorded in Plat Book 19, Page 56, Public Records of Pinellas County, Fl.
Containing 3,640 square feet, more or less.
STREET ADDRESS: 1108 Engman Street, Clearwater, Fl. 33765
PERSONALTY: None to be conveyed
2. FIlii PURCHASF PRICF .............................................................................................. $10 500 00
3. MANNFR OF PAYMFNT
Total consideration to be paid at closing in U.S. funds, cash, certified or
Cashier's check, subject to adjustments and prorations................................................... $ 10 500 00
4. TIMF FOR ACCFPTANCF
Following execution of this contract by Buyer, the price, terms and conditions as contained herein shall remain
unchanged and be held unconditionally open for a period of 45 days following delivery in duplicate original to Earl
Barrett, Real Estate Services Manager of the City of Clearwater for acceptance and approval or rejection by
action of the Clearwater City Commission ("Commission"). If this agreement is accepted and approved by the
Commission, it will be executed by duly authorized City officials and delivered to Buyer within 10 days thereafter.
If this contract is rejected by the Commission upon initial presentation to the Commission, this contract shall be
null and void in all respects and Buyer shall be so informed in writing within 5 days of such action.
5. IlILE
Seller shall convey marketable title to the Property by SPECIAL WARRANTY DEED, subject only to matters
contained in Paragraph 6 and those otherwise accepted by Buyer. Title shall be free of liens and encumbrances
of record or known to Seller, but subject to property taxes for the year of closing, if any; covenants, restrictions
and public utility easements of record; and (other matters which title will be subject): No Others
6. TITLE EVIDFNCF
Buyer may, at Buyer expense and within at least --1!L- days prior to closing date obtain a title insurance
commitment issued by a Florida licensed title insurer agreeing to issue its title insurance policy subject only to
liens, encumbrances, exceptions or qualifications set forth in this Contract, and those which shall be discharged
by Seller at or before closing. Seller shall convey a marketable title subject only to liens, encumbrances,
exceptions or qualifications set forth in this Contract. Marketable title shall be determined according to applicable
Title Standards adopted by The Florida Bar and in accordance with law. Buyer shall have 10 days to examine
title evidence following receipt. If title is found defective, Buyer shall, within 3 days thereafter, notify Seller in
writing specifying defect(s). If the defect(s) render title unmarketable, Seller will have 120 days from receipt of
notice within which to remove the defect(s), failing which Buyer shall have the option of either accepting the title
1
as it then is or withdrawing from this Contract. Seller will, if title is found unmarketable, make diligent effort to
correct defect(s) in title within the time provided therefore, including the bringing of necessary suits.
7. SLJRVFY
Buyer, at Buyer's expense, within time allowed to deliver evidence of title and to examine same, may have Real
Property surveyed and certified to the Buyer, Seller and closing agent by a registered Florida land surveyor. If
survey shows any encroachment on Real Property, or that improvements located on Real Property encroach on
setback lines, easements, lands of others, or violate any restrictions, contract covenants or applicable
governmental regulation, the same shall constitute a title defect.
8. CLOSING PI ACF AND DATF
Buyer shall designate closing agent and this transaction shall be closed in the offices of the designated closing
agent in Pinellas County, Florida, on or before 45 days following Effective Date, unless extended by other
provisions of this contract. If either party is unable to comply with any provision of this contract within the time
allowed, and be prepared to close as set forth above, after making all reasonable and diligent efforts to comply,
then upon giving written notice to the other party, time of closing may be extended up to ~days without effect
upon any other term, covenant or condition contained in this contract.
9. CI OSING DOCLJM~NTS
Seller shall furnish deed, bill of sale, construction lien affidavit, assignments of leases, tenant estoppel letters,
and corrective instruments as applicable to this transaction. Buyer shall furnish closing statement.
10. CLOSING FXPFNSFS
Recordation of the deed and Documentary stamps on the deed, unless this transaction is exempt under
Chapter 201.24, Florida Statutes, shall be paid by the Buyer. Seller shall pay the costs of recording any
corrective instruments.
11. PRORATIONS; CREDITS
If there should exist any taxes, assessments, rent and other revenue specific to the Property, all of such
expenses and revenue shall be prorated through the day before closing. If the amount of taxes and assessments
for the current year cannot be ascertained, rates for the previous year shall be used with due allowance being
made for improvements and exemptions. Any deposits held by Seller in trust for third parties in occupancy of the
Property shall be credited to Buyer at time of closing. Assessments for any improvements that are substantially
complete at time of closing shall be paid in full by Seller.
12. PROPERTY CONDITION
Seller shall deliver the Property to Buyer at time of closing in its present "as is" condition, ordinary wear and
tear excepted, and shall maintain the grounds in a comparable condition. Seller makes no warranties other than
as disclosed herein in Paragraph 14 ("SELLER WARRANTIES") and marketability of title.
13. SEllER HFI D HARMl FSS
Buyer agrees to indemnify and hold harmless the Seller without limitation from any losses, damages, costs,
including attorney's fees, claims of injury to or death of any person(s), any damage to property of Buyer, or the
Property, and from and against any and every liability to any person arising from Buyer conduct of survey and
related work performed pursuant to Paragraph 7 above.
14. SEll FR WARRANTIFS
Seller warrants that there are no facts known to Seller that would materially effect the value of the Property, or
which would be detrimental to the Property, or which would affect Buyer's desire to purchase the property.
15. PROCFFDS OF SAI F; CLOSING PROCFDlJRE
The deed shall be recorded upon clearance of funds. Proceeds of sale shall be held in escrow by Seller's
attorney or by such other mutually acceptable escrow agent for a period of not longer than 5 days from and after
closing, during which time evidence of title shall be continued at Buyer's expense to show title in Buyer, without
any encumbrances or change which would render Seller's title unmarketable from the date of the last title
evidence. If Seller's title is rendered unmarketable through no fault of the Buyer, Buyer shall, within the 5 day
period, notify the Seller in writing of the defect and Seller shall have 30 days from the date of receipt of such
notification to cure the defect. If Seller fails to timely cure the defect, all funds paid by or on behalf of the Buyer
shall, upon written demand made by Buyer and within 5 days after demand, be returned to Buyer and
2
simultaneously with such repayment, Buyer shall return Personalty and vacate Real Property and reconvey it to
Seller by special warranty deed. If Buyer fails to make timely demand for refund, Buyer shall take title "as is",
waiving all rights against Seller as to any intervening defect except as may be available to Buyer by virtue of
warranties contained in the deed. The escrow and closing procedure required by this provision shall be waived if
title agent insures adverse matters pursuant to Section 627.7841, F.S. (1987), as amended.
16. DEFAlJL T
If Buyer fails to close within the time specified (including payment of all deposit(s)), the deposit(s) paid by
Buyer may be retained by or for the account of Seller as agreed upon liquidated damages, consideration for the
execution of this contract and in full settlement of any claims; whereupon, Buyer and Seller shall be relieved of all
obligations under this contract. If, for any reason other than failure of Seller to make Seller's title marketable after
diligent effort, Seller fails, neglects or refuses to perform this contract, the Buyer may seek specific performance
or elect to receive the return of Buyer deposit(s) without thereby waiving any action for damages resulting from
Seller's breach. Seller does not waive any rights, claims, or action for damages resulting from Buyer's failure to
perform any other terms of this contract.
17. RADON ~AS NOTIFICATION
RADON GAS: Radon is a naturally occurring radioactive gas that, when it has accumulated in a
building in sufficient quantities, may present health risks to persons who are exposed to it over
time. levels of radon that exceed federal and state guidelines have been found in buildings in
Florida. Additional information regarding radon and radon testing may be obtained from your
county public health unit.
18. CONTRACT NOT RECORDARI F; PFRSONS ROlJND
Neither this contract nor any notice of it shall be recorded in any public records. This contract shall bind and
inure to the benefit of the parties and their successors in interest. Whenever the context permits, singular shall
include plural and one gender shall include all.
19. NOTICE
All notices provided for herein shall be deemed to have been duly given if and when deposited in the United
States Mail, properly stamped and addressed to the respective party to be notified, including the parties to this
contact, the parties attomeys, escrow agent, inspectors, contractors and all others who will in any way act at the
behest of the parties to satisfy all terms and conditions of this contract.
20. ASSIGNARILlTY; PERSONS ROUND
This contract is not assignable. The terms "Buyer", "Seller", and "Broker" (if any) may be singular or plural.
This Contract is binding upon Buyer, Seller, and their heirs, personal representatives, successors and assigns (if
assignment is permitted).
21. ATTORNEY FEES; COSTS
In any litigation arising out of this contract, the prevailing party shall be entitled to recover reasonable
attorney's fees and costs.
22. NO BROKER
Seller and Buyer represent and agree they have dealt with no Broker or finder in connection with the
transactions contemplated hereby. Seller and Buyer further agree to indemnify the other from any damage,
liability or expense either may suffer as a result of any claim of a Broker or finder with whom it is determined that
the other party has dealt with in contravention of this agreement; except, however, that total City obligations
under this provision shall be subject to the limits and restrictions of the Florida sovereign immunity statute, F.S.
768.28.
23. SPFCIAI CLAUSES; TYPFWRITTFN OR HANDWRITTEN PROVISIONS
Buyer acknowledges that "Declaration of Surplus Criteria" attached hereto as EXHIBIT "A" is an integral part of
this agreement and by execution hereof agrees to timely comply with all of its provisions. Typewritten or
handwritten provisions shall control all printed provisions of contract in conflict with them.
24. FFFFCT OF PARTIAl INVAliDITY
The invalidity of any provision of this contract will not and shall not be deemed to effect the validity of any other
provision. In the event that any provision of this contract is held to be invalid, the parties agree that the remaining
3
provisions shall be deemed to be in full force and effect as if they had been executed by both parties subsequent
to the expungement of the invalid provision.
25. GOVFRNING I AW
It is agreed by and between the parties hereto that this contract shall be governed by, construed, and enforced
in accordance with the laws of the State of Florida.
26. COUNTFRPARTS; FACSIMII F COPY
This contract may be executed in two or more counterparts, each of which shall be deemed an original and all
of which together shall constitute one instrument. A facsimile copy of this contract, including any addendum,
attachments and written modifications hereof, and any initials or signature thereon shall be deemed an original.
27. MFRGFR BY DFFD
All covenants, warranties, and representations contained herein shall merge with the deed at time of closing,
except as may be specifically excluded elsewhere in this agreement. Upon delivery of deed by the City, and
acceptance thereof by Buyer, the Buyer shall hold the City forever harmless thereafter.
28. FNTIRF AGREEMFNT
Upon execution by Seller and Buyer, this contract shall constitute the entire agreement between the parties,
shall supersede any and all prior and contemporaneous written and oral promises, representations or condition in
respect thereto. All prior negotiations, agreements, memoranda and writings shall be merged herein. Any
changes to be made in this agreement shall only be valid when expressed in writing, acknowledged by the
parties and incorporated herein or attached hereto.
THIS IS INTENDED TO BE A LEGALLY BINDING CONTRACT. IF NOT FULLY UNDERSTOOD,
SEEK THE ADVICE OF AN APPROPRIATE PROFESSIONAL FOR LEGAL, TAX, ENVIRONMENTAL
AND OTHER SPECIALIZED ADVICE PRIOR TO SIGNING.
Date:
,2004
CLEARWATER NEIGHBORHOOD
HOUSING SERVICES, INC.
Attest:
By:
Isay M. Gulley, Executive Director
W. Pearl Johnson, President
--------------------------------------------------------------------...---------------------------..-...---------...-..----------------
APPROVED AND ACCEPTED THIS _ day of
,2004.
Countersigned:
CITY OF CLEARWATER, FLORIDA
Brian J. Aungst, Mayor-Commissioner
By:
William B. Horne, II, City Manager
Approved as to form:
ATTEST:
Cynthia E. Goudeau, City Clerk
Laura Lipowski, Assistant City Attorney
4
ji-tt
PLD .1
City Council
Cover Memorandum
Tracking Number: 724
Actual Date: 08/05/2004
Subiect / Recommendation:
Approve changes to the New Construction chapter of the Design Guidelines relating to the
transition areas section and new requirements for architectural styles within the Downtown Core.
Summary:
As presented at the December 18, 2003 City Commission meeting, the development of the
Downtown Design Guidelines have been organized into four parts.
Design Principles;
New Construction;
Treatment of Designated Historic Structures; and
Signs and Miscellaneous.
The Design Principles were approved by the City Council on December 18, 2003. The New
Construction chapter was approved on April 15, 2004 with the understanding that additional
guidelines would be developed regarding architectural styles of new construction on Cleveland
Street and Ft. Harrison Avenue within the Downtown Core and that the transition areas section
would be revised. The Rehabilitation of Designated Historic Structures and Signs and
Miscellaneous chapters were approved on May 20th and June 17th, respectively.
This agenda item includes changes to the transition areas section as well as guidelines regarding
the use of appropriate architectural styles for new construction on Cleveland Street and Fort
Harrison Avenue within the Downtown Core.
The transition areas section is proposed to be divided into two parts with one addressing the
transition area within the Old Bay character district and the other addressing the transition area
within the Town Lake Residential character district. Attached are those proposed changes. Those
portions of the transition areas section that are in red and underlined are new and those portions
that are in blue and struck out have been previously reviewed and approved by the Council and
are proposed to be deleted.
At the Council's direction, Staff and the Steering Committee, utilizing the services of Janus
Research Group, created a photographic booklet (attached) highlighting architectural styles
common to Downtown Clearwater and other cities within Florida between 1900 and 1950 to guide
new construction along Cleveland Street and Fort Harrison Avenue. In addition, the Committee
recommends that the guidelines for appropriate archite
City Council
Cover Memorandum
ctural styles be applied to Fort Harrison Avenue and between Drew and Chestnut Streets as
opposed to limited to within one block north and south of Cleveland Street.
The Planning Department recommends approval of the transition areas section and addition of
prescribed architectural styles for new construction along Cleveland Street between Myrtle and
Osceola Avenues and along Fort Harrison Avenue between Drew and Chestnut Streets section in
the New Construction chapter as revised and presented by the Committee. A supporting
PowerPoint presentation that further supports the concepts contained within the New Construction
chapter of the Guidelines will be submitted for review prior to the Council meeting.
The Planning Department and Committee held their last Design Guidelines meeting on June 29th.
Staff is currently finalizing the Guidelines and compiling a list of additions and minor changes to
the New Construction, Rehabilitation of Designated Historic Structures and the Signs and
Miscellaneous chapters including:
Clarification and strengthening of some of the language;
Additional guidelines for telecommunication antennas;
Guidelines requiring the use of certain building materials;
Guidelines specific for office development in the Old Bay District, east of
Garden Avenue;
A Glossary; and
A listing of useful contacts.
The draft Guidelines will be presented to the Downtown Development Board, Main Street
Committee, Clearwater Chamber of Commerce and representatives from the Old Bay and East
Gateway character districts in August and the Community Development Board on September 21st.
The final draft of the Design Guidelines will be presented to the City Council on October 21st and
November 4th for approval.
Oriainatina: Planning
Section: Other items on City Manager Reports
Category: Other
Number of Hard CODies attached: 2
Public Hearina: No
Financial Information:
Type: Other
Bid Reauired? Yes
Review Aporoval
Lisa Fierce
07-19-2004
16:45: 56
Bill Horne
07-29-2004
12:07:30
Cvndie Goudeau
07-29-2004
14:20:50
Ralph Stone
07-22-2004
10:58:19
Old Bay
East of extended highwater line
-Max. height = 100'
-Min. setback from northern Plan
Area Boundary: 113'
Old Bay
East of extended highwater line
-Min. setback from northern Plan
Area Boundary:
~1S' or less
. 20'
~Over 1S' . 75'
PLUS l' per 2.25' of height above
15'
Old Bay
East of extended highwater line
-Min. setback from Osceola
Avenue:
~1S' or less
. 0'
~Over 15'
. 10'
1
Old Bay - east of mean highwater line
100'
50'
113'
l'
Property line/edge ~
of Plan Area
Old Bay
West of extended highwater line
-Min. setback from north Plan
Area Boundary:
~30' or less
. 20'
~Over 30' . 20'
PLUS l' per 3' of height above
30'
~
Old Bay - east of mean highwater line
100'
20'
n
50'
Property line/edge ~
of Plan Area
Old Bay - east of mean highwater line
100'
113'
90'
.
75'
Property line/edge ~
of Plan Area
50'
~1'
Old Bay
West of extended highwater line
-Max. height = 100'
-Min. setback from north Plan
boundary = 43'
2
II,
!iJJ
Old Bay
Clearwater Boy
Morino
~
Old Bay - west of mean highwater line
100'
Property line/edge 'if
of Plan Area
Old Bay - west of mean highwater line
100'
Property line/edge ~
of Plan Area
Old Bay
100'
150'
Max. Required separation between
buildings: 150'
3
Town lake Residential
-Min. setback for any building:
~30' or less
~ 10'
-Max. height = 75'
~75' in height
~ 32.5'
Town lake Residential
75'
Property line/edge ~
of Plan Area
Town lake Residential
....~...,.. ~........
9io . ,6 ' " ; 0, ',' i ,- :! C:
. . .,r~Tl.lJG
Town lake Residential
~
Property line/edge ~
of Plan Area
4
.
5
Appropriate Architectural Styles
. 20th Century Commercial Vernacular:
One-Part
. 20th Century Commercial Vernacular:
Two-Part
. Art Deco
. Art Moderne
Architectural Styles for
Downtown Clearwater
. Chicago School
. Mediterranean or Mission Influence
. Mediterranean Revival
. Neo-Classical
6
New Con'struction Chapter
Transition Areas Section
1. Change to the Transition Areas section beginning on page 21.
E. Additional Requirements for Character Districts and Special Areas
1. Transition Areas
The transition area guidelines apply to the properties adjacent to the Downtown Plan
boundary in the following two areas:
. In the Old Bay District, all properties located north of Seminole Street and west of
Osceola Avenue (Fig. 1).
. In the Town Lake Residential District, all properties located on the south side of
Chestnut Street (Fig. 2).
Transition area guidelines apply due to the significant differences in the development
potential and pattern between the transition area and the adjacent areas outside the
Downtown Plan boundaries. Projects shall be designed so that the least intensive portion
of the development (density, use and buildings) is located closest to the Plan Area
boundary. The appropriate separation and orientation of a development shall be
determined based on the maximum development potential/pattern of the adjacent area.
Old Bay
Appropriate:
. For development located eastward of a line drawn due south trom the intersection
of the mean highwatcr line and thc northc111 Plan Arca Boundary:
~ Buildings or portions of buildings ~ 15 feet or less in height that are setback
a minimum of M 20 feet from the northern Plan Area boundary.
~ Buildings or portions of buildings exceeding 15 feet in height that provide a
minimum setback (trom the northern Plan Area Boundary) of 75 feet plus one
additional foot of horizontal distance as measured from that boundarv for each
2.25 feet of height above 15 feet except along public rights-of-way where
buildings may be located a minimum of 10 feet from the boundary line.
- Buildings taller than 30 feet in height that provide a sotback of a minimum of 10
feet plus an additional one foot for each two feet of height above 30 feet
. For development located \vestvvard of a line drawn due south from the intersection
of the mean highwater line and the northern Plan Area Boundary:
--" Buildings or portions of buildings 30 feet or less in height that are setback a
minimum of 20 feet from the northern Plan Area boundary.
y Buildings or portions of buildings exceeding 30 feet in height that provide a
minimum setback (from the northern Plan Area Boundarv) 01'20 teet plus one
additional foot for each thr~e feet ofpeight.above 30 feet.
. Buildings or portions of buildings exceeding 50 feet in height that maintain a
horizontal separation between such buildings equal to or greater than].5 times the
height of the larger of the two buildings.
Town Lake Residential
Appropriate:
. Buildings or portions of buildings 30 feet or less in height that are setback a
minimum of 10 feet from the southern Plan Area boundary.
. Buildings or portions of buildings taller than 30 feet in height that provide a
setback of a minimum of 10 feet plus an additional one foot for each two feet of
height above 30 feet from the southem Plan Area boundarv.
Explanation: It may be appropriate for the two affected character districts to have
different regulations due to the differences in their development potential and unique
geographic area. Staff has worked extensively with the Steering Committee, Vicki
Morgan (an affected property owner and member of the Committee) and the developer in
creating the proposed language.
S:\Planning Department\DOWNTOWN PLAN UPDA TElDOWNTOWN DESIGN GUIDELINES\PubIic MeetingslAppendiccs and
MiscellancousI06-29-04106-29-04 Transition Areas changes.doc
2
ART MOD ERNE
Former Walgreen Drug Store, Located in Downtown Miami, Circa
1935. Photograph Taken by Janus Research, 2003.
Janus Research
1
TWENTIETH CENTURY COMMERCIAL VERNACULAR: ONE-STORY OR
ONE-PART
Historic Photograph of the First Coachman Building, Located in
Downtown Clearwater, Circa 1922. From Images of America:
Clearwater.
Located in the Ybor City National Historic Landmark District.
Photograph Taken by Janus Research, 2004.
Janus Research
2
Located in the Ybor City National Historic Landmark District, Date
Unknown. Photograph Taken by Mark Parry, City of Clearwater
Planning Department, 2004.
Janus Research
3
TWENTIETH CENTURY COMMERCIAL VERNACULAR: TWO-PART
Peter's La Cuisine, Located in Downtown Fort Myers. Photograph
Taken by Janus Research, 1999.
Historic Photograph of the Cuesta Apartments, Located in West
Tampa, Circa 1918. Courtesy of the Burgert Brothers Collection.
Janus Research
4
Historic Photograph of the Padgett Building, Located in Downtown
Clearwater, Circa 1922. From Images of America: Clearwater
J. Richards Building, Located in Downtown Fort Myers. Photograph
Taken by Janus Research, 1999.
Janus Research
5
{I' '\
Kress Building, Located in Downtown Tampa. Photograph Taken by
Janus Research, 1999.
Janus Research
6
MEDITERRANEAN OR MISSION INFLUENCE
Located in the Ybor City National Historic Landmark District, Circa
1995. Photograph Taken Mark Parry, City of Clearwater Planning
Department, 2004.
Historic Photograph of a Building, Located in Fort Myers, Circa
1920. Courtesy of the Florida Photographic Collection.
Janus Research
7
Historic Photograph, Located in West Tampa, Date Unknown.
Courtesy of the Burgert Brothers Collection.
Located in the Ybor City National Historic Landmark District.
Photograph Taken by Janus Research, 2004.
Janus Research
8
MEDITERRANEAN REVIVAL
Cleveland Street Post Office, 650 Cleveland Street. Photograph Taken
by Janus Research, 2004.
Calvary Baptist Church, 331 Cleveland Street. Photograph Taken by
Janus Research, 2004.
Janus Research
9
Peace Memorial Presbyterian Church, 110 S. Fort Harrison Avenue.
Photograph Taken by Janus Research, 2004.
St. Petersburg Open Air Post Office. Photograph Taken by Janus Research, 2004.
Janus Research
10
Metropolitan Hotel, Located in Downtown Miami. Photograph Taken
by Janus Research, 2003.
The Ponce de Leon Hotel, Located in Downtown St. Petersburg.
Photograph Taken by Janus Research, 2004.
Janus Research
11
The Snell Arcade, Located in Downtown St. Petersburg. Photograph
Taken by Janus Research, 2004.
Biltmore Hotel, Located in Coral Gables. Courtesy of the Seaway-
Biltmore Corporation.
Janus Research
12
r
Freedom Tower, Located in Downtown Miami. Photograph Taken by
Janus Research, 2003.
Janus Research
13
NEO CLASSICAL
Historic Photograph of Old Pinellas County Courthouse, 315 Court
Street, Circa 1945. Courtesy of the Florida Photographic Collection.
Old Florida National Bank Building, Located in Downtown
Jacksonville. Photograph Taken by Janus Research, 2004.
Janus Research
14
First National Bank, Located in Downtown Fort Myers. Photograph
Taken by Janus Research, 1999.
Janus Research
15
HISTORIC HIGH RISES
Historic Chicago Style High Rise Located in Jacksonville. Photograph
Taken by Janus Research, 2004.
Janus Research
16
Historic Chicago Style High Rise Located in Jacksonville. Photograph
Taken by Janus Research, 2004.
Janus Research
17
Historic Chicago Style High Rise Located in Jacksonville. Photograph
Taken by Janus Research, 2004.
Janus Research
18
EXAMPLES OF BUILDINGS WITH ORIGINAL FA<;ADES INTACT AND
LARGE NON-HISTORIC ADDITIONS
The Chaille Block, Located in Downtown Miami. Photograph Taken
by Janus Research, 2003.
Historic Photograph of the Chaille Block. Located in Downtown
Miami, Date Unknown. Courtesy of the City of Miami.
Janus Research
19
The Salvation Army Building, Located in Downtown Miami.
Photograph Taken by Janus Research, 2003.
Historic Photograph of the Salvation Army Building, Located in
Downtown Miami, Date Unknown. Courtesy of the City of Miami.
Janus Research
20
The Colonnade Building, West Elevation, Located in Downtown
Coral Gables. Photograph Taken by Janus Research, 2004.
The Colonnade Building, Front Elevation, Located in Downtown
Coral Gables. Photograph Taken by Janus Research, 2004.
Janus Research
21
EXAMPLE OF MODERN BUILDING WITH STEPPED FA<;ADE
Located in Downtown Coral Gables. Photograph Taken by Janus
Research, 2004.
Janus Research
22
New Construction Chapter
Architectural Stvles
1. Pages 42 and 43
Addition of new section - Development along Cleveland Street between Myrtle
and Osceola Avenues and along Fort Harrison Avenue between Drew and
Chestnut Streets
4. Development along Cleveland Str-eet between MYrtle and Osceola A venues and along
Fort Harrison Avenue between Drew and Chestnut Streets.
Appropriate:
. Development incorporating an architectural style/building type indicative of those
found in Downtown Clearwater between 1900 and 1950* and includes:
,. 20th Century Commercial Vemacular: One-story or One-Part;
)P> 20th Century Commercial Vemacular: Two-Pati;
, Art Deco;
,. AIi Modeme;
);0> Chicago School;
);0> Mediterranean or Mission Influence;
)P> Mediterranean Revival;
);0> Neo-Classical;
*See Appendix A Architectural Styles for additional details.
. Buildings which utilize character defining features from anyone of the approved
architectural styleslbuilding types listed above through the use of contemporary
materials.
Inappropriate:
. Use of multiple and/or conflicting architectural styles within a single building or
between several buildings within a single proiect.
Explanation: The City Council directed Staff to develop a specific list of appropriate
architectural styles for use within a portion of the Downtown Core. The area outlined by
the Council included Cleveland Street between Myrtle and Osceola Avenues and within
two blocks of Cleveland Street along Fort Harrison Avenue. The Committee suggests
extending the latter area to include all of Fort Harrison Avenue between Drew and Court
Streets.
The aid of Janus Research, providing architectural history services, was enlisted by Staff
to help compile a photographic list of appropriate architectural styles for this area.
S:\Planning Department\DOWNTOWN PLAN UPDA TE\DOWNTOWN DESIGN GUIDELINES\Master Guideline Changes
List.doc
1
City Council
Cover Memorandum
II. 15
Trackina Number: 719
Actual Date: 08/05/2004
Subject / Recommendation:
Recommend Pinellas County Administrator appoint Doug Williams to the St.
Petersburg-Clearwater International Airport Aircraft Noise Abatement Task Force, due to
resignation of Saundra L. Curry.
Summarv:
Saundra Curry was appointed to the Task Force April 2003; at that time, she was the President of
the Clearwater Neighborhoods Coalition. Because she is no longer President of the Coalition and
the Task Force meetings have been changed from quarterly to monthly, she has submitted her
resignation.
City Council makes recommendations to the Pinellas County Administrator, for appointment to the
St. Petersburg-Clearwater International Aiport Aircraft Noise Abatement Task Force.
Ms. Curry's letter is attached for reference.
Originating: Official Rec and Legislative Svc
Section: Consent Agenda
Category: Other
Number of Hard Copies attached: 1
Financial Information:
~ Other
Review Approval
Cvndie Goudeau
08-02-2004
16:56:36
Garrv Brumback
07-22-2004
10:47:50
Bill Horne
07-22-2004
21 : 34: 51
Saundra L. CUPPLJ
2649 St Andrews Dr.
Clearwater FL 33761.2745
Voice or Fax 727.797-7244
~ :. .
June 22, 2004
COPIES
CITY rO
COU!\!CIL
JUN :2 5 2004
CLE:'R~RESS
~7TORNEY
Office of the Mayor
Offices of the City Council
P.O. Box 4748
Clearwater FL 33758-4748
of" ", :
Dear Mayor and Council Members:
Upon recommendation of the Clearwater City Commission, the Pinellas County Administrator
appointed me to the St. Petersburg-Clearwater International Airport Aircraft Noise Abatement
Task Force in 2003. At that time, I was President of the Clearwater Neighborhoods Coalition and
was a logical choice to represent Clearwater neighborhoods affected by, or interested in, excessive
noise generated by air traffic at this facility.
I am no longer President of the CNC. In addition, Task Force meetings were changed from
quarterly to monthly. While this change is beneficial to the Task Force, I am not able to manage
the time commitment. Therefore, I must regretfully resign my appointment.
Mr. Doug Williams is the current President of the CNC, and is willing to step in as the
Clearwater representative on this body. Mr. Williams has a long history of community service,
and has an interest in this issue. I believe he would be an excellent addition to the Task Force.
I have greatly appreciated representing the COWlcil and the citizens of Clearwater on the Aircraft
Noise Abatement Task Force. Thank you for the opportunity.
Sincerely,
7'~
Saundra Curry
scurryOtampabay.rr.com
I/./lp
City Council
Cover Memorandum
Tracking Number: 704
Actual Date: 08/05/2004
Subiect / Recommendation:
Appoint Manoj Haresh Shewa to the Library Board with the term expiring on August 31, 2008.
Summary:
BOARD: Library Board
TERM: 4 years
APPOINTED BY: City Council
FINANCIAL DISCLOSURE: Not Required
STAFF LIAISON: John Szabo - Library Director
RESIDENCY REQUIREMENT: City of Clearwater
SPECIAL QUALIFICATIONS: None
MEMBERS: 7
CHAIRPERSON: Judy Melges
MEETING DATES: 3rd Fri., 10:30 am
PLACE: Library Conference Room
APPTS. NEEDED: 1
DATE APPTS TO BE MADE: August 5, 2004
THE FOLLOWING ADVISORY BOARD MEMBER(S) HAVE TERMS WHICH EXPIRE AND NOW REQUIRE
EITHER REAPPOINTMENT FOR A NEW TERM OR REPLACEMENT BY A NEW APPOINTEE.
1. Tom Leavy - 2977 Ambleglen Ct., 33761 - Original Appointment 8/1/1996
Interest in Reappointment: NO (Ending 2nd Term)
THE FOLLOWING NAMES ARE BEING SUBMITTED FOR CONSIDERATION TO FILL THE ABOVE
VACANCIES:
1. Manoj Haresh Shewa - 675 S. Gulfview Blvd. #306, 33767 - Computer Info. Systems Instructor
2. Marilyn D. Garte - 1520 Gulf Blvd., #706, 33767 - Retired Middle School Teacher
(Her husband Glenn Garte is currently serving on this board until 1/31/05 - 2nd Term)
Zip codes of current members on board:
1 at 33759
2 at 33761
1 at 33764
1 at 33765
2 at 33767
Oriqinatinq: Official Rec and Legislative Svc
Section: Consent Agenda
Category: Other
Number of Hard Copies attached: 0
Public Hearing: No
City Council
Cover Memorandum
Financial Information:
~ Other
Review Approval
Cvndie Goudeau
08-02-2004 16:51:50
~". .
-~
<::; .~, .' " ::':.~ ,; 0
I t.1.....;.' ..... ~.. ~..\ :u ~
'i
CITY OF CLEARWATER - APPLICATION FOR ADVISORY BOAR~N 31 2003
(must be Clearwater resident) CITY CLEHK cr~PARTMENr
Name: MAN oJ"
Home Address:
''1-.6' S. 6lu..lPVL\;vJ ~L"b, IJ"'l\ 'lob
HA~r=SH
SHel.<lA
Office Address:
~5'5"O lA..LMI;I2\ON Q,[).... \)1\111' IDO
C. L 6..A f!. W A l' I;. f- .
1='-
Zip ~3~",.
/.AtZ.&,O
F="I..
Zip 33+~ I.
Telephone: -:p..":f - 414 '2. - 01.'3 ~
How long a resident of Clearwater? 1:\ ~e tL '< .s
Occupation:'O'l'<\p"'-T6J? l:....~O. .sVS'lGn\S :rfl/H~../.;t.R. Employer: E'OU(.A'T'OrJ AMEl:lltlQ" TAMpA Te'~.
Telephone: 1-1-1- - 53"1. -\ q 1 ~ E ~t - ~ ,5"
Field of Education: Other Work Experience:
(3.$. C~V'I\p",,\ e,z.. EN,", 1\1 €e12 It'v<.J, (\/.SF)
&. c;.. Co"", ~~ T 6..z. l....Il:.~..l ",,~"\', 0 N S '{ S 'l eM ( ~~,:)
H~I~~ MAN4~~~~~T
A,,,,t)I\, IN""
If retired, former occupation: N /~
Community Activities: ~A.s. MI:Mi3 e~ o~ N~'l,ONA\.. t-\ONOt2.
AN D .p~1.. THE TrA j(.A~t'A (Si. PI; 1E ':r\)"l~~ C.O~LEG,g)
Other Interests: \)~B~\N~, ~e"'l;AR.c.""IN<r. . ~5'At)lNl>) <\"'1) T~A""el..l"'ln
"11,")0\ SC.1400L
Board Service (current and past):
NIl),
Board Preference:
L'1] ItAIZ'1 B OAIC-l)
EN v, nCtVfV1E.I\J TAL AI)'f/,,sD12t AD A IQ.n
BeAU.'Tlp".A\ION CC~""'I'T'TE€.
.. OPSN TO A... ';l A" '" II. "'IS" Il Bll/,\lLD,S
u:lLLG~,; A....a ....OILIe.. :r <...IA.~ nJo'r A"AIL~~LF- 7b Si.1iR.VE
Additional Comments: ""'T.<- f'J",J. {)..;I/: '10
C'I:Aa\J{.I'{"';.z. KE~'()e"'r.s. r. hlOI.-"O ,",leG.. p.,I OPPO/Z.TLlNITj ro /3c::co.lYl"," A vALuA13LE..
AS.50~1 '1""0 II"",, c:tT'j "I-' c..\"I;:AQ.w"'TlO~ ","NO 1:"''' R.~.sI!JeNT'
Signed:
r~
Date: I - 3 \ - 03.
See attached list for boards that require Financial Disclosure at time of appointment.
Please return this application & board questionnaire for each board listed to:
City Clerk's Department, P. O. Box 4748, Clearwater, FL 33758-4748 or drop off at City Hall, 2nd
Floor, 112 S. Osceola Avenue
...""
BOARD QUESTIONNAIRE
1. What is your understanding of the board's duties and responsibilities?
The' bOA.'fd'{ du.he. {. a,,,,d ye.sp"'''Si (,; h"u 'IS to ,."e.;", t"""',,, pasi t-i~e .
c.. Ie ~ '1-'..... r t't"
The baud '('I' p~SR'" t-", o..",c:I L.,o~ OIU i.s.,slAc.,( hu:. r a..,Q ;-port-;;..,J
to ~e t211\hG4",u""",/!'",,t ~ C\~ CleA'(",Jwrw ","",d ;t~ ci\-~V'I.s
2. Have you ever observed a board meeting either in person or on C-View, the City's
TV station?
"l ~.s.:.
3. What background and/or qualifications do you have that you feel would qualify you
to serve on this Board?
I. ~,,\o)Q b~ck~yQ\.\.""~CiP~"l"e') \r"1 (o""'r~C'(' eY't~:....~en~ ~'4'J
{n.....\'.t-o.... l."'~M~w.. c:;;~1',t'h,"'. M~ I..,GL~Y1I\4~d hE'~ me! Sh\1
Cl...,d b DC"-#d () f'l
oJ..;@c...t\v'o.. . dQ...t'c.......1 ~. r ,.,a;ve a.n ())( U!. 0 ,,"- r t"lI \1 (">'\ non lu ~'(..I
J .,
a.0'l D... 1'"d~~Lhv :" CI.s p.-o5l"aW\ o.k Q. tt"Lht'\I'l~l cnll~Drl1'n"" I~
~..L\d. J.\av:"5 ~()(~d ~j. 4lN'l ;....sh-u~, :r: htNt' d@ve.lop~ cJ J~
~p'" SUil.s.. :s: C4~ c.J."..o ~ ~Cc:l", 'd.~Y't"Y" """,d cC!..be.....k1v-.
4. Why do you want to serve on this Board?
t::\S G.. cle...,,"twcJ'ey '(~~icLeY\t fr" the rt.i:~~ /2 ~eA"J 1: hctlf4i!
i, ".J.! r" po.... h\loj r:lI tlrtJ-j)r\ h'j ~(l. a..(.!-\~ ob i--h12 boc...'( d . -:r.
U;'fe C\.~c...t-t~E' YU,lt",t" a",d c..~ ob Cle..tv"",,..rer . I wt."r N
<i~O....l '....a "'i'\''1'"....'J1'"'' b~ ~D."Ctit.\'~...~~ i~ t"'e bOt',(d c..",& UJl\h\h.J-e pcs;nve ~
tG..)tJ(~..s; CA:~ o~ c.'e~'flJ...t~y ~'W'd \~~ ,(ts,Ot'V\t~
Name: M'lO'\oj S ht'w4.
Board Name:
RECEIVED
JUL 12 2004
CITY OF CLEARWATER - APPLICATION FOR ADVISORY BOARDS
(must be Clearwater resident) OFFICIAL RECORDS AND
LEGISLATIVE SRVCS DEPT
Name: /J7 At< / L'Y II,) .:l> I GA I< T~
Home Address:
/~ ~ {) GI/t.F 8L.V2) #70Co
C L 6"r:1I2WA Te~ Zip 33767
Telephone:C7 2.. 7) ~7 w '1555"
How long a resident of Clearwater? ~ ,)'lc.S
Occupation: f)1/j)j)LG SCf)(N4.. "T6A (.fI-ffL (j2.Ei)Employer: L~i/i/vr."".)
- . _.._._ - .. _0"-.- _ . . _. ." .,-,--.,,' -.-' .-.~ .- -.... -.- -- . .... .
Field of Education: Other Work Experience:
(3 -4 - fA) tj) VCAT(~).)
Office Address:
/VA
Zip
Telephone:
C" of"""\V ~"' I ,., P .' .>"
I I .) Co. n v ~ ).
VA..
Ifretired, former occupation: M J /J f) '- c: ~ e+i iJ~ l- Tf:::.AC ~ En.... ( L.. 7 "I fJ-S)
Community Activities: (O~j)o €v€"NTs cp~PJ,VA7C!P-', l(/'IU~F.D lr./1-rhJ}J O(//L-
~
Cd.M./I1 VAl I 'T"Y /~':/I/2. '~/:JE,/I./AI/ES. ~;"/L hJ/':' (4~'i PM,'l-E UJ AA../P ,N'Ecl() u/Y'c'AtfY I:::"(/#.!JS'..
57t:~U.IV61 VA. l.-//.3M ~y APII'. f)J).
.
Additional Comments: -:r h';f /e SU/J~,,/L<;r:C7/ ./.'J./~
- A A/ 1JH - ~ /lit ~. A/ . .:;1"(..,../ vCi _.- ,/>j):fTft:(jNSo~ ---
Signed:/fJ~~;) ~
Other Interests: i?. ~ A I.) 1/'1 (T'- J /VI V SIc..
)
Board Service (current and past):
L ~t/1?OVN ~~vA/r>' L/I3/'--AR..Y
.A 'J) '/1$(!f)_Y S 14R-V Y j.. .
.1
L 1/11 E 2}<l AIel JJ 6-- . 1'.fi?.A V~ '-
,
Board Preference:
L I "'312A R- Y 'zv.,;.A R/J
IY~~n') "~ ";T"'e:,)
t..,~ p~ ()~ I b <;
(),d~ 9 I o~
Date:c - 7 .
See attached list for boards that require financial disclosure at time of appointment. Please return
this application and board questionnaire to the Official Records & Legislative Services Department,
P. O. Box 4748, Clearwater, FL 33758-4748, or drop off your application at City Hall, 2nd Floor, 112
S. Osceola Avenue. .
BOARD QUESTIONNAIRE
1. What is your understanding of the board's duties and responsibilities?
'to 6-/1/~ ADIIIl!..~ I'u (,.(..EAl2i11-iTFIJ.. UiA,j)GfSHlfJ ,Q.~LATIN;-
70 (.. tAM;(:Y o;PER-tJT/IN$ .API> PCJI.-Ic-i'. TlJ ~-GPfi~;:SE-NT
/Nn(2..Gt:;Y5ANP OPINlt1lVS OF C--17/Z,6/vS tA,.n7'H b.JN(J'.,,/j+.
L' .!-JA VE {1JN'IfiCr
2. Have you ever observed a board meeting either in person or on C-View, the City's
TV station?
'L:~
-y c.;..;> ,
.r
(/,/1/Z;~/L S--ri4 AJj) "'Tit E 1.A/~('l--It!.liA.JU t) t= '11-/ F (JO/J/7..J)
ANt)" .-; 7',)- -. /VIAiZe- IV":"-- "---.- - - .c....
3. What background and/or qualifications do you have that you feel would qualify you
to serve on this Board?
.:r .i..I/1~/6 B~N"" Fi/I.-f..-Tr/Yl E -rt..'":.4rHE/l. ;:()~_ 2.7 "7'1(.>.
A A/P H'..1 fI'~ 6 A.I C;Jf/N,6n..a A v..<o,qjo(;. T7' tJF ;' S $vE '5 M-S.A.Jtf2A uY
M L A T-ED -To I2--G-/:JZJIAJ ~ AA/'f) '-Ier~ R:v VS € .
fro tI , AM A
, ,
~ (J~ r f't/., <&12- I ...z A t.. c; lJ ~~ I IV c;. i~ 01 <:~ ~: -rC) Ii C /f'J EM i..I tV P
fJA-rI2LJ1.)S. .
4. Why do you want to serve on this Board?
-rtl~ "c/t:t..i) Or //,/r(?fi...A1AT/dA' :J;/S5-f7M)NATI,,/I) 1$ 6X/'APOINrr.
AA I'll)Ly A,..vv /J1E-E7//Vtf- rH/S (fiAtA...6A/r;...~ IS cSSFAlT/,#fL_.
'/:0_ ..' S-G./t..VI/Vf.i -r",€~ ~<<"'$ o..ge..eLi.7t2..11J! $ __6{;"/li:cC/v6C/- ,.----.-. ..
Name:,#hAJr .J<(Jp~
Board Name: (LE/I~WA7'f::;(L LI.a.t....<:1/CY BDV/rrl.rc-/ ~AIlQ).
IL/7
City Council
Cover Memorandum
Trackino Number: 703
Actual Date: 08/05/2004
Subiect / Recommendation:
Appoint Christine Travis to the Beautification Committee with the term expiring on August 31,
2008.
Summary:
BOARD: Beautification Committee
TERM: 4 years
APPOINTED BY: City Council
FINANCIAL DISCLOSURE: Not Required
STAFF LIAISON: Parks & Recreation Dept.
RESIDENCY REQUIREMENT: City of Clearwater
SPECIAL QUALIFICATIONS: None
MEMBERS: 7
CHAIRPERSON: Saundra L. Curry
MEETING DATES: 1st Wed., 8 am
PLACE: Municipal Services Building
APPOINTMENTS NEEDED: 1
THE FOLLOWING ADVISORY BOARD MEMBER(S) HAVE TERMS WHICH EXPIRE AND NOW REQUIRE
EITHER REAPPOINTMENT FOR A NEW TERM OR REPLACEMENT BY A NEW APPOINTEE.
1. Sally Foote - 312 N. Glenwood Ave., 33755 - Original Appointment 8/17/00
Interest in Reappointment: NO (Does not wish to be reappointed)
THE FOLLOWING NAMES ARE BEING SUBMITTED FOR CONSIDERATION TO FILL THE ABOVE
VACANCIES:
1. Paul Ellis - 19029 US Highway 19 N, 9-702, 33764 - Interior Design
2. Elizabeth Lancara - 2030 Cleveland Street, 33765 - Secretary/Administrative Asst.
3. Manoj Haresh Shewa - 675 S. Gulfview Blvd, Unit 306, 33767 - Computer Info. Systems
Instructor
4. Christine Travis - 1216 Bermuda St., 33755 - Self-Employed - Travis Lawn & Landscape
Zip codes of current members on board:
3 at 33755
1 at 33756
1 at 33759
1 at 33761
1 at 33764
Orioinating: Official Rec and Legislative Svc
Section: Consent Agenda
Cateoorv: Other
City Council
Cover Memorandum
Number of Hard Copies attached: 0
Public Hearing: No
Financial Information:
~ Other
Review ADDroval
Cvndie Goudeau
08-02-2004
16:53:29
FEB 2 1. 20U~
CITY OF CLEARWATER - APPLICATION FOR ADVISORY BOARDS
(must be Clearwater resident) ! '. '
, ;")
Name: ;. ~.q. U L
EL-L~ .-,
-)
Home Address:
Fio2 9uS fiG'; /9 IV 9 - 7CFL
(~t EAR kJ;; TER FL Zip 3 j '7~ L.(.
Telephone: 7 2-17 ~'.) J l- '-f 5 fs ';
How long a resident of Clearwater? ,3' 'r' R.~
Occupation:
Field of Education:
Office Address:
Zip
Telephone:
2. fYl c.r; .
Employer:
Other Work Experience:
CI
F t) R./JAFE <3 :II-
4 I} 1/1 I,\.; t'J IXA lr 1./ e- 5 EI< (/ (' E S"'
If retired, former occupation: y:; '7cl?/0/\ })GS'/W _>l.JiOl.RuIJ'C;;R... FOR- /1 f.I FE \' ';
Community Activities: DESiGN C:e;~4.~ \ 'rr\::"~ J SeA-- u.J.4U..- cenVV1IITEE
, , \t ~E-r\ ~ r c1U - U - A "- )/ Cei' 'uG-flIloC f) T I
aPttiR&I~tl J\yAJ r 'Two '-(EA P,8 Af r 0:;,.1//- ~k' /' n.fIA./"/ffG/'fi?
er n el'e8ts: L--"1
Board Preference:
t //'!' C E ~ Fu/JCii/r; tF.{; r g [,9.f+f} D
b t:A Ur- I F( ej) 7/ tJ AI' C~ J'V\ Vl.1 " i7
-1~ FA
'DE: S l G- tJ
nIQz)6R
i I\j ~ IvTER 10 i<.
PL/Vv tV i N(_
~ Pt:tCE-
Board Service (current and past):
-
Additional Comments: A4F Er ~ ARi?1 if
111/ ~ty(OPC
/'j',"" "7 ~ <7 /~ .
Signed: {/ /"'Y:~ ,/,:X/C.,.c;.,
I. ESr6-rJ
/9/;RFdRc./3
Er C/:.!.4 A./G6=-' S E;2 I,,<I/c!.6"
Date:
it
/
f!;if d ')--
See attached list for boards that require Financial Disclosure at time of appointment.
Please return this application & board questionnaire for each board listed to:
City Clerk's Department, P. O. Box 4748, Clearwater, FL 33758-4748 or drop off at City Hall, 2nd
Floor, 112 S. Osceola Avenue
BOARD QUESTIONNAIRE
1. What is your understanding of the board's duties and responsibilities?
.
II') ('/~'1
t':/ I
;t- e/q Ir:-c/ .j~ OCt:. UD/"( .-1-/ ~(? I /.: (~VJ jp s.'
, , ,
I/;-C, Oe.l" 14/''''1 ~7 n;-, / n j 'f"'n:... and J~ Iv 'C .;
{Jrf)~!r:hA (' .. r:Vlfo"C.t:"~ /'/" Codd.
I
:J-;;,L. .-If. l.;,y s A:q", hi'" 0 I/ehll/ /-/7 lit' p,.j~P".>t:tz./ D' "./ t' 4;.y/rf
(, . '--gerf-/;ter-/'c.-/ /7/-PJ'C"CT.>, .
2. Have<you ever observed a board meeting either in person or on C-View, the
City's TV station?
3
... ,Q/J I.>
nea rs
/u--q U 1"1 f
!?-~,
{,II (" ~ rd#,f
("rJ(Ir-(
'Is.
3. What background andlor qualifications do you have that you feel would qualify
you to serve on this Board?
7' /i'N/e
C"'/Oo r:ltnl!';zT
II
Je f-I/ ~ t7f. fY j/)
&'d,,~kyC'~
'"
6t9a/'ds
wi f~
.1
4, Why do you want to serve on this Board?
.::T ~tn,,/I,t /,1!1C'.' Iff ('" /J '/I'I'~{//e
1/11-1 e 16 -I h t
;' 1'71/& / ve cl
t t/ve,
..J9tn~
~..J'
/
(/~~
)-?';
...j () be
t() h J'e. 11
.---
Cd "n IU u tt1 I . ri/' ..L
WI/A {ki olea.-
/pt
Name: ~ (). L---- ELL- i 5:
D '
I Board Name: E 11/~rcc- ,I/);~l1f .6ca I',?..{..
?- -B CCi. ",-I/./~ ca/'. (:>1>1 {~ ;';v7 H/? / ~..1Ie e
--r, ~. '.
~,
...
CITY OF CLEARWATER - APPLICATION FOR ADVISORyfBp~RDS,' " ._~ LJi
(must be Clearwater resident)
FEB 1 8 2003
!
Name: Elizabeth A. Lancara
Home Address:
2030 Cleveland St.
Office Address:
. ' '( r^, ,...,' . ,-,--' 'Fl \",-
CITY, C! 1""\,,1) ,:> ":;".:; 'II' , \,'
., .. L' . ..,~ 1..;.-,. ..
Clearwater, FL
Zie 33765
Zip
Telephone: 727-447-6209
How long a resident of Clearwater? Eleven years
Occupation: Secretary/Administrative Asst.
Field of Education:
Have 32 college credits>
Telephone:
Employ-er: current~ unemPlor.;)
A t(l.t.~\ ~cr 7111 0..'3 - \ \ j 0.3
. Other Work Experience: .
. .
Data Entry Clerk for Title Co., AF Recrl
Office Administrator. Customer Service
Rep.
If retired, former occupation:
Community Activities: Skycrest Neighborhood Assn.. Clearwater Garden Club. volunteer for
Clearwater concerts and Officer Priendly Bike Safety. Jambore~
Other Interests: PhotolZraphv. crochetin~, hikp. riding. p ~u...Vl~ \I \ohli\.. ~')>lCt...f\6
Board Service (current and past): Board Preference:
None
Beautification Committee
Panks and Recreation
Date: c?2 -/1-0..:3
, See attached list for boards that require Financial Disclosure at time of appointment.
Please return this application & board questionnaire for each board listed to:
City Clerk's Department, P. O. Box 4748, Clearwater, FL 33758-4748 or drop off at City Hall, 2nd
Floor, 112 S. Osceola Avenue
APDITl6"'AL-.. COrn.N\E:'JVl~~ PA\I.::a-. "oulL t\E:J'\~ CU, aoo4') f\.)E.lG\-t8o~bC\OS cc~~-t.e.t
;;to03 A~() 0L0cL\' Ct4-lL.l li;'lCrrV\~ANG-~ WIl..o6(h..~H ANO ;:r~zz.. -r-'e:6T {OLJ.Jtt::C.
~~}JT~J,.) '3)~'6N Q)(""("\M I i"T'EJS VOL-uN\e:-C~ "tU\\L-:S OA'I "(jL..I.JJJ~
.~f. ..
...,
BOARD QUESTIONNAIRE'
..
,
1. What is your understanding of the board's duties and responsibilities?
Members advise the commission on anyl~hanges or improves necessary to
keep recreation centers and parks attractive to citizens' use. There
is room for improving these facilities based on needs of residents.
2. Have you ever observed a board meeting either in person or on C-View, the City's
TV station?
I've watched the Development Board meeting on C-View.
3. What background and/or qualifications do you have that you feel would qualify you
to serve on this Board?
I have been a resident of theSkycrest division of Clearwater for eleven
years and have some knowledge of native plants that may help in improving
landscaping.
4. Why do you want to serve on this Board?
I wOUld love to take paTt in improvin2 Clearwater and feel that the
Parks and Recreation Centers of Clearwater are a great uart of enjoying
life here.
Name: Elizabeth A. Lancal';'a.
B d N Parks and Recreation BoaTd
oar ame: . '. -...
" .
1"' .
,..~
r~. . ,
I t ~...,.
. : ':','
.:. .,"' ~.. .. ~~ i.v:'
'. .'D.'~.
.: 1:(. :
.......
't
CITY OF CLEARWATER - APPLICATION FOR ADVISORY BOAR,*N 31 2003
(must be Clearwater resident) CITY CLEHK DC.PARTMENT
Name: 1\1 A 1'1 o.:r
Home Address:
Co 1'5 S. &!u.LPvL ~ vJ ~L"J) I U Nl"\ 30 b
HA~{:S \;
SH F-\ioI A
Office Address:
~S'5"O llL.MI;Il\Ol'l RO'., UNIT 100
C. L 6.A fa.. W ~ 't l;. 12-
.
I='L.
Zip ~3~' T
I.. A fZ.&, 0 r:....
Zip 33+~ I.
E ~t - '-l ~5'
Telephone: ':p. ~ - 4 14 2. - 0 1.. '3 ~
How long a. resident of Clearwater? I ~ ~~ 4. -< .s
Occupation: 'Ot"\P\lTSt?, l:""rO. 'svS"t€tt\s r"'l>>T~l(c..lGg, Employer: E'OU(.A.,IOr4 AME~lt~. lAMpA TE'~.
Telephone: T '). 1- - 531.. -, q H
Field of Education: Other Work Experience:
0.$. CC.V\t\P\A.\I~12- E""Cn\",€e/ZIN<.J, (u.s~)
8.~' c:.Oi"\~""TG..z. ~.'Il=Qll~~"'ON S"{S'l':M l\4~':)
H~~~~ MAN~~~~€~T
A:\40\t"IN In
If retired, former occupation: N /A
Community Activities: '4IIA~ MI:Mi3 el2 oF- NA~IONA\.. ,",ONOI2.. 5o(..11~ T
AND P\-\1.. Tt-\ETt'A ~Af>>t'A (Si. PE1'f::r;,)"lv~ C.CL.LI:"/i)
Other Interests: b~B"'\o.)~, ~e$;~AR.c.,",IN~ I ~~At)'NbJ ~"'D T~tA"e\.Il"!n
t'\'Cn)o1 SUolOOc..
Board Service (current and past):
NIA
Board Preference:
LI f1 /'l.AI2'1 a OAK..J)
IE'" IJ , R eN""';"" TAL AD 1/ .,sDllt AD A IQ.El
l3eAU.~IF'''A\ION CC.""""'.I'TE.€.
'" OPSI'J TO A...';I A"'I\Il"Ae~r:. B 0(\ Ilo.s
UlLLl;,,~ j::lroa,:) ...,lOlL'" I l..JA~ NoT P,IIAIL1H~..L (;.. To SGlf.vf
Additional Comments: O....Tu.. rJ"'~ I 0'-'1: 10
Ctfaa.t,Jf.l'f',;12- K6~'oe"'r.s. I o..)O~C.D /-,let:... IJ.rl OP~O/2.T"'N'Tj r" ,3Gc:C'.l'YJr,::' A V/.1LuAI3LE.
A,s~r:.T 1"'0 THE C.;[T'j c.j; C.\.~All\..pQT~a.. ~NO ;i:'q Q..r.sl!JeNT~
Signed:
r~
Date:
1-3)-O~
See attached list for boards that require Financial Disclosure at time of appointment.
Please return this application & board questionnaire for each board listed to:
City Clerk's Department, P. O. Box 4748, Clearwater, FL 33758-4748 or drop off at City Hall, 2nd
Floor, 112 S. Osceola Avenue
~.
.....
BOARD QUESTIONNAIRE
1. What is your understanding of the board's duties and responsibilities?
ThE" bOA.'('d/" du.h~" o.....d ytJPo.'\S; bi h'~ 'IS to n,eJ", rrA.;"" peu; H-le
The boud l(P p"",M.'r\, r" d"'c:l ioo~~ OJe.~ i.s.~\A"-1 t~C4 r a..,Q ;""port-"...1
to ~e t?V'\havout""'t"lf\t ct cd~ CleAvvlM&T" ",-.....d ;t~ c\\-~(?n..s
2. Have you ever observed a board meeting either in person or on C-View, the City's
TV station?
"l e..s.: .
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Board Name:
RECEIVED
Name: Ch(II~~<
Home Address:
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CITY OF CLEARWATER - APPLICATION FOR ADVISORY BOAFWso2 2004
(must be Clearwater resident) OFFICIAL R
_ . ECORDS AND
. I ('0- tJi-S LEGISLATIVE SRVCS DEPT
Office Address:r-;) . <:: I
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Employer:--1!:c-J l~ Lc-.LAJVl .,-
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Other Work Experience:
If retired, former occupation:_
Community Activities:~A
Other Interests:.gx.rQ.ln'I~) rvrldiV'~ '"t"' b.J::Ln:s
Board Service (current and past): Board Preference: ^ )1
~vt/'tic(;..hDn LCJW\nlttKL
Additional Comments:
Signed: !JAA1),hiu dtA./.t1.J./
Date:_1/ I lOLl
See attached list for boards that require financial disclosure at time of
appointment. Please return this application and board questionnaire to the
Official Records & Legislative Services Department, P. O. Box 4748, Clearwater,
FL 33758-4748, or drop off your application at City Hall, 2nd Floor, 112 S.
Osceola Avenue.
BOARD QUESTIONNAIRE
1. What is your understanding of the board's duties and responsibilities?
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3. What background and/or qualifications do you have that you feel would qualify you
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ater
Purchasing Memorandum
City Commission
08/05/2004
Agenda Number: 2428
Pu R 1.
li.'.[
1 A~enda Item No: 11.1
Type: Purchase
Quantity:
Requesting Dept: Parks and Recreation
Using Dept: Parks and Recreation
Bid Number or
Code Exception:
Vendorlnfo:
Description:
Comments:
Amount:
$ 199,485.57
2.564 (1)( d) - Fl. St. Cont. 650-001-04-1
Playmore Recreational Products and Services,
Fort Myers, Florida
Woodward (skate park) ramps and rails by Huna Designs, installed.
To be installed at the Ross Norton Complex.
Appropriation Code(s):
315-93253-563500-572-000
Comments:
Ross Norton Complex Project
tv, rz t
\2.1
City Council
Cover Memorandum
Trackinq Number: 689
Actual Date: 08/05/2004
Subject / Recommendation:
Adopt Resolution 04-22 authorizing the Marine & Aviation Department to act as Project Manager
for the Florida Boating Improvement Program and authorize the appropriate officials to execute
same.
Summary:
The Marine & Aviation Department wishes to apply for grant funds to design the expansion of the
recreational boating portion of the marina, leaving the commercial slips where they are. The
Florida Fish and Wildlife Conservation Commission (FWC) offers a program for funding the cost of
engineering the construction of boating access facilities. One of the requirements is that the
Governing Body, the City Council in this instance, authorize the Project Manager, the Marine &
Aviation Department, authority to apply for and administer the grant on their behalf.
The initial request will be for a grant to fund the preparation of a Master Plan, estimated to cost
between $100,000 and $150,000. Once the Master Plan is completed the next tier of the grant
would be pursued to fund the actual construction of Marina improvements, the cost of which will
be determined by what is approved as the Master Plan.
Originating: Marine and Aviation
Section: Other items on City Manager Reports
Cateqorv: Agreements/Contracts - without cost
Public Hearinq: No
Financial Information:
Review Aooroval
Bill Morris 06-24-2004 12: 13:26
Garrv Brumback 07-22-2004 10:48:48
Brvan Ruff 06-24-2004 13 : 51 : 54
Bill Horne 07-26-2004 19: 51 :33
Cyndie Goudeau 07-28-2004 11:43:35
RESOLUTION NO. 04.22
A RESOLUTION OF THE CITY OF CLEARWATER,
FLORIDA AUTHORIZING THE MARINE & AVIATION
DEPARTMENT AS PROJECT MANAGER TO APPLY FOR
AND ADMINISTER THE FLORIDA FISH AND WILDLIFE
CONSERVATION COMMISSION (FWC) FLORIDA
BOATING IMPROVEMENT PROGRAM GRANT ON
BEHALF OF THE CITY OF CLEARWATER, THE
GOVERNING BODY; PROVIDING AN EFFECTIVE DATE.
WHEREAS, a requirement of the FWC to apply for their Florida Boating
Improvement Program grant includes the City of Clearwater as the Governing Body,
adopting a resolution authorizing the Project Manager to apply for and administer the
grant on their behalf; now, therefore,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF CLEARWATER, FLORIDA:
Section 1. The City Council hereby accepts and approves authorizing the
Marine & Aviation Project Manager to apply for and administer the FWC Florida Boating
Improvement Program grant on behalf of the City of Clearwater, the Governing Body.
Section 2. This resolution shall take effect immediately upon adoption.
PASSED AND ADOPTED this
day of
,2004.
Brian J. Aungst
Mayor
Approved as to form:
Attest:
Bryan D. Ruff
Assistant City Attorney
Cynthia E. Goudeau
City Clerk
Resolution No. 04-22
i7--';L
City Council
Cover Memorandum
GA s 1-
Tracking Number: 701
Actual Date: 08/05/2004
Subject / Recommendation:
Adopt City of Clearwater Resolution No. 04-18 and accept City of Oldsmar Ordinance 2004-02,
which amends Ordinance 84-16 and changes the franchise percentage of gross receipts from the
sale of gas paid to the City of Oldsmar by Clearwater Gas, and makes several administrative
changes to our agreement and authorize the appropriate officials to execute same.
Summary:
The City of Clearwater Commission accepted a 30 year franchise agreement effective September
1, 1984, which provided for a 4.0% franchise rate for the 1st 10 years, a 4.5% franchise rate for
the 2nd 10 years, and a 5.0% franchise rate for the 3rd 10 years.
On June 1, 2004, the City of Oldsmar Council approved Ordinance 2004-02 which seeks to amend
our current franchise agreement to reflect changes to the percentage of gross receipts received by
the City of Oldsmar from Clearwater Gas System.
The City of Oldsmar has requested that their franchise fee payments received from gross receipts
of the sale of gas be kept at 4.5% for the 3rd 10 year period of the agreement instead of
increasing it to 5.0%.
Additionally the new Oldsmar Ordinance makes the following administrative clarifications to the
agreement, which we requested, namely:
Franchise fee payments to the City of Oldsmar will be paid quarterly instead of monthly, which
has been our actual practice,
Clearwater Gas will no longer collect a surcharge for the construction costs of our System in
Oldsmar, which we actually discontinued in our Rate Case effective October 1, 1995, and
Clarifies that the date of the franchise was September 1, 1984.
Originating: Gas System
Section: Other items on City Manager Reports
Category: Code Amendments, Ordinances and Resolutions
Public Hearing: No
Financial Information:
Review Approval
Chuck Warrinaton
07-13-2004
16:40:02
Garrv Brumback
07-21-2004
13:23:47
Laura LiDowski
07-15-2004
16:29:50
Bill Horne
07-22-2004
00:31:47
Cyndie Goudeau
City Council
Cover Memorandum
07-22-2004 08:56:16
RESOLUTION NO. 04-18
A RESOLUTION OF THE CITY OF CLEARWATER,
FLORIDA, ACCEPTING THE FRANCHISE, PRIVILEGE
AND CONCESSION OF THE CITY OF OLDSMAR,
FLORIDA, FOR THE PURPOSE OF FURNISHING GAS
WITHING THE CITY OF OLDSMAR AND TO ITS
INHABITANTS; PROVIDING AN EFFECTIVE DATE.
WHEREAS, on June 1, 2004, the City of Oldsmar, Florida, adopted Ordinance
2004-02, a copy of which is attached to the original of this resolution and incorporated
herein by reference, granting the City of Clearwater a franchise for the purpose of
furnishing gas within the City of Oldsmar; and
WHEREAS, the terms and conditions of the franchise are acceptable; now,
therefore,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF CLEARWATER, FLORIDA:
Section 1. The amendment of the terms and conditions of the gas system
franchise, privilege and concession granted by the City of Oldsmar, Florida, by the
adoption of Ordinance No. 2004-02 of the City of Oldsmar on June 1, 2004, are hereby
accepted and the City Commission of the City of Clearwater does hereby agree to
comply with the terms and conditions of the franchise and with all reasonable
ordinances adopted by the City Commission of the City of Oldsmar not inconsistent with
the franchise.
Section 2. This resolution shall take effect immediately upon adoption. Upon
adoption of this resolution, the City Clerk shall deliver a certified copy to the City Clerk
of the City of Oldsmar.
PASSED AND ADOPTED this
day of
,2004.
Brian J. Aungst
Mayor
Approved as to form:
Attest:
Laura Lipowski
Assistant City Attorney
Cynthia E. Goudeau
City Clerk
Resolution No. 04-18
ORDINANCE 2004-02
RECEIVED
JUN S 0 2004
GAS ADMIN
AN ORDINANCE OF THE CITY OF OLDSMAR, FLORIDA AMENDING
ORDINANCE 84-16 WHICH GRANTED TO THE CITY OF
CLEARWATER, FLORIDA, A FRANCHISE FOR THE PURPOSES OF
FURNISHING GAS WITHIN THE CITY OF OLDSMAR, TO AMEND THE
PERCENTAGE OF GROSS RECEIPTS WHICH ARE TO BE PAID TO
THE CITY OF OLDSMAR, TO DELETE THE APPLICABILITY OF
SURCHARGES FOR THE CONSTRUCTION COST OF THE SYSTEM
WHICH SERVES OLDSMAR; TO REQUIRE PAYMENTS TO THE CITY
TO BE MADE QUARTERLY INSTEAD OF MONTHLY; AND PROVIDING
FOR AN EFFECTIVE DATE.
WHEREAS, the City of Oldsmar adopted Ordinance 84-16, which granted to the
City of Clearwater, Florida. a franchise privilege and concession to furnish gas to the
City of Oldsmar, together with the right to use the City of Oldsmar1s streets and
easements for the purposes of laying and maintaining pipes. or such other apparatus
necessary to supply gas to the City; and
WHEREAS, Ordinance 84-16 prescribed the terms and conditions under which
the franchise privilege and concessions were to be exercised; and
WHEREAS, the term of the franchise agreement was for thirty years; and
WHEREAS, Section 11 of the franchise agreement provided that the payment
from the City of Clearwater to the City of Oldsmar would be 4% of the gross proceeds
from the sale of the gas within the City limits for the first 10 years, 4112% of the gross
proceeds from the sale of gas within the City limits for the second 10 years; and 5% of
the gross receipts from the sale of gas within the limits of the City of Oldsmar for the
final 10 years of the franchise; and
WHEREAS, beginning in September, 2004 the percentage to be paid from the
City of Clearwater to the City of Oldsmar will increase from 4Y2% to 5%; and
WHEREAS, certain members of the business community have approached the
City and requested that the City modify its franchise agreement to maintain the payment
at 4%%; and
WHEREAS, the City Council of the City of Oldsmar has determined that in order
to maintain the prices of natural gas provided to customers within the City of Oldsmar, it
is necessary to maintain the franchise fee payment at 4 ~% for the last 10 years of the
franchise; and
WHEF,tEAS, there.is no nee~ for the City OfICIEJiMtpr~~.~yrc'W,~e ~r
the construction costs of Its system In Oldsmar; ani TRUE AND CORRECT COpy OF
(J~~ ~a;~~~
OF~~OlDSMAR
CITY CLERK
WHEREAS, the City of Oldsmar is willing to be paid quarterly instead of monthly.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF OLDSMAR,
FLORIDA, IN SESSION DULY AND REGULARLY ASSEMBLED:
Section 1. That Section 7 of Ordinance 84-16 shall be amended in its entirety to
read as follows:
The gas to be furnished by Grantee shall in no case be of less quaUty than
1000 British Thermal Units per cubic foot, and shall be conducted through
the pipes at a pressure sufficient to insure satisfactory operation. The
Grantee shall have the privilege and option of charging reasonable prices
therefore,
Grantee shall have the further right and privilege of collecting reasonable
service charges and connection fees; provided, however, such charges
and fees to be no greater than for similar services, charges, and fees to
any of Grantee's other consumers, plus travel expenses to be agreed to
between the parties from time to time.
Section 2. That Section 11 of Ordinance 84-16 shall be amended in its entirety to
read as follows:
Section 11.ln consideration for the grant of this franchise, Grantee shall
pay to Grantor:
a. Four percent (4%) of the gross receipts from the sale of gas within the
city limits of the Grantor for the firstten (10) years of this franchise; and
b. Four and one half percent (4~%) of the gross receipts from the sale of
gas within the city limits of the Grantor for the remaining twenty (20) years
of this franchise.
Grantee shall be required to keep proper books of accounts showing
quarterly gross receipts for the sale of gas within the limits of Grantor, and
shall make a statement in writing showing the receipts of each such
quarterly period for each and every year of this franchise, and based upon
such statement shall make concomitant quarterly payment to Grantor of
the amount due. In the event that Grantor shall annex a customer of
Grantee during this franchise, Grantee shall immediately include the gross
receipts of such consumers in the franchise fee payment.
Such franchise fee shall not be deemed to preempt or otherwise exclude
the Grantor from levying additional utility or other taxes which Grantor may
lawfully impose upon Grantee1s customers.
Section 3. That the Franchise will be deemed effective as of September 1, 1984,
Section 4. Except as amended and modified by this Ordinance, the City of
Oldsmar and the City of Clearwater hereby ratify and confirm the franchise.
Section 5.This Ordinance shall become effective immediately upon its final
passage and adoption.
PASSED ON FIRST READING:
-J1/ovt ~ :J. tJa 'I
PASSED ON SECOND READING AND ADOPTED:
ATTEST:
APPROVED AS TO FORM:
~~
City Attorney
City of Oldsmar
~: 1J,.l..,
Norman, Lois
From:
Sent:
To:
Subject:
Goudeau, Cyndie
Monday, August 02, 2004 4:39 PM
Norman, Lois
FW: Oldsmar Franchise Change Agenda Item 8/5/05
Work Session Follow up
-m-Original Message--m
From: Warrington, Chuck
Sent: Monday, August 02, 2004 3:21 PM
To: Goudeau, Cyndie
Cc: Scott, John C.; Cottier, Kristi
Subject: Oldsmar Franchise Change Agenda Item 8/5/05
In response to Council Member Hamilton's question on the $$$ effect of this change, here are the key points:
. First, this is a fee that is added by Clearwater Gas System to the bills of all residents & business in the city limits
of Oldsmar for the use of their rights-of-way.
. The Oldsmar Franchise Fee was 4.0% from 9/1/84 - 8/31/94 & 4.5% from 9/1/94 - 8/31/04. It was scheduled to
increase to 5.0% effective 9/1/04 - 8/31/14.
. The key change is to hold @ 4.5% for the last 10 years of their franchise, which was driven by their largest
industrial customer, Metal Industries, which is CGS's 3rd largest customer using about 800,000 therms in FY
02/03 = about $400,000/year in billing before taxes.
. In FY 02/03 the 4.5% Franchise Fee in Oldsmar provided them with $37,306/year & this is running about 26%
higher this year than last due to the higher gas supply costs. So, I would estimate that their annualized Franchise
Fee will run about $47,OOO/year this year.
. Therefore, this holding the line on the 0.5% increment, will cost the City of Oldsmar about $5,200/year. But,
please note that the higher gas supply costs will more than offset this.
. Metal Industries is about 52% of our revenues in the City of Oldsmar, so the impact of this change on them is
about $2,700/year. They current pay Franchise Fees of about $24,000/year and Utility Taxes of about
$18,000/year. So, they pay a significant part of the total Oldsmar gas franchise & utility tax & that is why they
raised this issue.
. The bottom line here is that Oldsmar is waiving this scheduled Franchise Fee increase of +11 % (4.5% to 5.0%),
but this is more than offset by a windfall from the much higher gas supply costs.
Please share this with our Council for their meeting this Thursday night. If you have any questions on this, please call me.
Chuck Warrington
Managing Director & Executive Officer
Clearwater Gas System
Tel: (727) 562-4901
Fax: (727) 562-4903
Mobile: (727) 224-7055
E-Mail: chuck.warrington@clearwatergas.com
1
l2'3 I
City Council
Cover Memorandum
FN3
Trackina Number: 688
Actual Date: 08/05/2004
Subject / Recommendation:
Adopt Resolution 04-23 providing for the sale of not to exceed $15.5 million Stormwater Revenue
Bonds, Series 2004 and authorize the appropriate officials to execute same.
Summary:
A Stormwater rate study has been completed which proposes implementing the previously
approved 8% per year rate increase in FY 2005 and FY 2006 and adopting annual rate increases
of 3% per year for FY 2007 through FY 2009. These rate increases are sufficient to provide for
operations, capital projects, and debt service on bonds issued during this time period.
The City identified a need for approximately $65.5 million in capital projects for the stormwater
system from 2004 through 2009, with bonds to be issued in 2004 for projects costing
approximately $13,164,580, in 2006 of approximately $7,223,302 and in 2008 of approximately
$10,542,926. On the attachment there is a list of the $13,164,580 in projects to be financed
from the 2004 bond issue.
Ordinance 6378-99 was adopted on April 15,1999 and Ordinance 6931-02 was adopted on July
18, 2002. Both ordinances authorize the issuance of Stormwater Revenue Bonds by resolution.
Resolution 02-41 was adopted on November 21, 2002, which provides for the City to be
reimbursed from bond proceeds for expenditures that occurred on these projects prior to issuance
of the bonds.
This resolution authorizes the competitive sale of not to exceed $15.5 million of Stormwater
Revenue Bonds, and authorizes the Finance Director and City Manager to award the sale of the
bonds to the best bidder. Only the amount of the bonds needed to fund the $13,164,580
construction costs will be issued.
The complete resolution (with attachments) is available in the Official Records and Legislative
Services Department.
Originating: Finance
Section: Other items on City Manager Reports
Category: Bonding
Number of Hard Copies attached: 1
Financial Information:
Review Approval
Maraie Simmons
07-01-2004
15:12:15
Garrv Brumback
07-21-2004
09:05:21
Pam Akin
07-12-2004
16:28:01
Bill Horne
07-22-2004
00:28: 11
Cyndie Goudeau
City Council
Cover Memorandum
07-22-2004 08:59:20
Proiects beina financed with 2004 Stormwater Bonds
Storm Pipe System Improvements
Prospect Lake Park
Kapok Flood Resolution
Myrtle Avenue Drainage Improvements
Storm System Expansion
Lake Bellevue Stormwater Improvements
Alligator Creek Drainage Improvements
Total
$ 2,000,000
200,000
1,640,000
6,512,140
607,440
1,000,000
1,205,000
$ 13,164,580
RESOLUTION NO. 04-23
A RESOLUTION PROVIDING FOR THE SALE OF NOT TO EXCEED $15,500,000
STORMW A TER SYSTEM REVENUE BONDS, SERIES 2004; SETTING FORTH THE
FORM OF THE NOTICE OF BOND SALE AND SUMMARY NOTICE OF BOND
SALE RELATING TO THE SALE OF SUCH BONDS; DIRECTING PUBLICATION
OF THE SUMMARY NOTICE OF SALE RELATING TO SUCH BONDS;
PROVIDING FOR THE OPENING OF BIDS RELATING TO THE SALE OF THE
BONDS; SETTING FORTH THE OFFICIAL NOTICE OF SALE AND BID FORMS;
PROVIDING THAT SUCH BONDS SHALL BE ISSUED IN FULL BOOK ENTRY
FORM; APPROVING THE FORM OF A PRELIMINARY OFFICIAL STATEMENT;
PROVIDING FOR COMPLIANCE WITH A CONTINUING DISCLOSURE
CERTIFICATE; DESIGNATING A REGISTRAR AND PAYING AGENT;
AUTHORIZING THE PURCHASE OF A FINANCIAL GUARANTY INSURANCE
POLICY; PROVIDING CERTAIN OTHER MATTERS IN CONNECTION
THEREWITH; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, on July 18, 2002, the City Council of the City of Clearwater, Florida (the "City"
or the "Issuer") enacted Ordinance No. 6931-02, amending Ordinance No. 6378-99 (collectively, the
"Bond Ordinance") to provide for the issuance of City's Stormwater System Revenue Bonds, Series
[to be determined], in one or more series from time to time payable from Parity Pledged Revenues
(as defined therein); and
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
CLEARWATER, FLORIDA, as follows:
SECTION 1. AUTHORIZATION OF BONDS AND SERIES DESIGNATION. That
portion of the Stormwater System Revenue Bonds, Series 2004 authorized by the Bond Ordinance
being offered pursuant to this resolution is hereby designated as the not to exceed $15,500,000 City
of Clearwater, Florida, Stormwater System Revenue Bonds, Series 2004 (the "Series 2004 Bonds"),
which Series 2004 Bonds are hereby authorized to be issued. The proceeds of the Series 2004 Bonds
shall be used to pay (i) a portion of the costs of the Series 2004 Project (as hereinafter identified), (ii)
the costs of issuing the Series 2004 Bonds, (iii) the premium on the bond insurance policy, and (iv) to
make a deposit to the Reserve Fund. The proceeds of the Series 2004 Bonds not required to pay the
amounts described in clauses (ii) through (iv) in the immediately preceding sentence shall be
deposited into the subaccount in the Construction Fund (created by the Bond Ordinance) for the
Series 2004 Project approved in the this Resolution.
SECTION 2. PUBLIC SALE. There is hereby authorized to be sold pursuant to a public
sale not to exceed $15,500,000 City of Clearwater, Florida, Stormwater System Revenue Bonds,
Series 2004.
SECTION 3. SALE OF SERIES 2004 BONDS; REDEMPTION AND MATURITY
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PROVISIONS. The Finance Director is hereby directed to arrange for the sale of the Series 2004
Bonds utilizing the electronic bid process of PARITY through the publication of the Summary
Notice of Sale of the Bonds in The Bond Buyer, on such date as shall be deemed by the Finance
Director to be in the best interest of the Issuer and such publications to be not less than ten (10)
calendar days prior to the date of sale as required by Section 218.385(1), Florida Statutes; and to
publish such Notice in such other newspapers on such dates as may be deemed appropriate by the
Finance Director.
The Series 2004 Bonds shall be subject to optional redemption and shall bear maturities and
sinking fund amortizations as shall be subsequently determined by the Finance Director, upon
advice of the City's financial advisor and based on market conditions existing at the time, prior to
the publication of the Summary Notice of Bond Sale hereinafter approved.
Proposals for purchase of the Series 2004 Bonds will be received electronically via PARITY
as provided in the Official Notice of Sale, from the time that the Notice of Bond Sale is published
until 11:00 a.m., Clearwater, Florida time, on such date and time as may be established by the
Finance Director of the City or her designee, and if such date is subject to change, communicated
through Thompson Municipal Market Monitor (TM3) not less than twenty-four (24) hours prior to
the time bids are to be received for the purchase of the City of Clearwater, Florida, Stormwater
System Revenue Bonds, Series 2004; provided that if the internet is not working on the designated
bid date, the bid date shall be automatically changed to the next business day, and the City will
communicate a confirmation of this change in bid date through Thompson Municipal Market
Monitor (TM3), all as provided in the Notice of Sale (the "Bid Date").
SECTION 4. CREATION OF ACCOUNT IN THE CONSTRUCTION FUND AND USE
OF FUNDS. There is hereby created with the Construction Fund a separate account, namely, the
Series 2004 Project Account. Moneys held in the Series 2004 Project Account shall be used to pay the
costs of issuing and delivering the Series 2004 Bonds and the costs of the Series 2004 Project.
SECTION 5. DISPOSITION OF PROCEEDS OF SERIES 2004 BONDS. The proceeds
from the sale of the Series 2004 Bonds shall be deposited as follows:
(a) An amount equal to the accrued interest on the Series 2004 Bonds shall be deposited
into the Interest Account in the Bond Service Fund;
(b) An amount determined by the Finance Director to be necessary to pay the costs of
issuing the Series 2004 Bonds, including the premium due to the Bond Insurer shall be used to pay
such costs;
(c) An amount determined by the Finance Director to be necessary to increase the
amount in the Reserve Fund so that the amount on deposit therein equals the Reserve Requirement;
and
(d) The remaining proceeds of the Series 2004 Bonds shall be deposited into the Series
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2004 Project Account of the Construction Fund.
SECTION 6. APPROVAL OF FORMS. The Notice of Bond Sale and Summary Notice of
Sale of the Bonds to be submitted for purchase of the Series 2004 Bonds shall be in substantially the
forms annexed hereto, as Exhibits A and B, respectively, together with such changes as shall be
deemed necessary or desirable by the Finance Director depending on the bidding method selected
in accordance with Section 3 hereof, incorporated herein by reference. The form of the Official Bid
Form shall be provided by the internet auction website selected by the Finance Director, and shall
be reasonably satisfactory to the Finance Director.
SECTION 7. BOOK ENTRY ONLY BONDS. It is in the best interest of the City and the
residents and inhabitants thereof that the Series 2004 Bonds be issued utilizing a pure book-entry
system of registration. In furtherance thereof, the City has previously executed and delivered a
Blanket Letter of Representations with the Depository Trust Company. For so long as the Series
2004 Bonds remain in such book entry only system of registration, in the event of a conflict between
the provisions of the Bond Ordinance and of the Blanket Letter of Representations, the terms and
provisions of the Blanket Letter of Representations shall prevail.
SECTION 8. PRELIMINARY OFFICIAL STATEMENT AND OFFICIAL STATEMENT.
The City Manager and Finance Director are authorized and directed to cause a Preliminary Official
Statement to be prepared in substantially the form attached hereto as Exhibit C, with such changes,
insertions and omissions as shall be approved by the City Manager and Finance Director, containing
a copy of the attached Notice of Bond Sale and to furnish a copy of such Preliminary Official
Statement to interested bidders. The City Manager and Finance Director are authorized to deem
final the Preliminary Official Statement prepared pursuant to this Section for purposes of Rule 15c2-
12 (the "Rule") of the Securities and Exchange Commission. Upon the award of the Series 2004
Bonds to the successful bidder, the City shall also make available a reasonable number of copies of
the Preliminary Official Statement to such bidder, who may mail such Preliminary Official
Statements to prospective purchasers at the bidder's expense. Following the award of the Series
2004 Bonds, the City Manager and the Finance Director shall cause to be prepared a final Official
Statement dated as of the Bid Date, reflecting such changes in the Preliminary Official Statement as
may be necessary to reflect the purchaser's bid. The Mayor and City Manager are hereby
authorized to execute and delivery such final Official Statement, with such changes, insertions and
omissions as may be approved by such officers.
SECTION 9. CONTINUING DISCLOSURE. The City hereby covenants and agrees that,
in order to provide for compliance by the City with the secondary market disclosure requirements
of the Rule, that it will comply with and carry out all of the provisions of that certain Continuing
Disclosure Certificate in substantially the form attached hereto as Exhibit D, to be executed by the
City and dated the date of issuance and delivery of the Series 2004 Bonds, as it may be amended
from time to time in accordance with the terms thereof (the "Continuing Disclosure Certificate").
Notwithstanding any other provision of this Resolution, failure of the City to comply with such
Continuing Disclosure Certificate shall not be considered an event of default; however, any
Bondholder may take such actions as may be necessary and appropriate, including seeking mandate
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or specific performance by court order, to cause the City to comply with its obligations under this
Section.
SECTION 10. REGISTRAR AND PAYING AGENT. Wachovia Bank, National
Association, through its designated office in Jacksonville, Florida, is hereby appointed as Registrar
and Paying Agent for the Series 2004 Bonds.
SECTION 11. FINANCIAL GUARANTY INSURANCE POLICIES. Pursuant to the Bond
Ordinance, Ambac Assurance Corporation ("Ambac") has been selected to provide its Financial
Guaranty Insurance Policy (the "Policy") as the Bond Insurance Policy (as defined in the Bond
Ordinance) as additional security for payment of principal and interest on the Series 2004 Bonds.
Selection of Ambac as the Bond Insurer (as defined in the Bond Ordinance) is hereby ratified and
confirmed and payment for such Bond Insurance Policy from proceeds of the Series 2004 Bonds is
hereby authorized. The Issuer hereby accepts the terms, conditions and agreements relating to the
Bond Insurance Policy in accordance with the Financial Guaranty Insurance Commitment attached
hereto as Exhibit E and incorporated herein. A statement of insurance is hereby authorized to be
printed on or attached to the Series 2004 Bonds for the benefit and information of the holders of the
Series 2004 Bonds.
For so long as the Bond Insurance Policy is applicable to the Series 2004 Bonds, the
additional provisions set forth on Exhibit "F" attached hereto shall be applicable to the Series 2004
Bonds. In addition to the covenants and agreements of the Issuer previously contained in the Bond
Resolution regarding the rights of the Bond Insurer which are incorporated herein, the Issuer
hereby covenants and agrees for the benefit of the Bond Insurer and the holders of the Series 2004
Bonds while the Bond Insurance Policy insuring the Series 2004 Bonds is in full force and effect, to
provide the Bond Insurer with copies of any notices to be given to any party pursuant to the Bond
Resolution or this Resolution, and to provide prior notice to the Bond Insurer of any amendments to
the Bond Resolution or this Resolution.
(a) Any notice that is required to be given to a holder of the Bonds or to the Paying
Agent pursuant to the Bond Ordinance shall also be provided to the Bond Insurer. All notices
required to be given to the Bond Insurer under the Resolution shall be in writing and shall be sent
by registered or certified mail addressed to Ambac Assurance Corporation, One State Street Plaza,
New York, New York 10004 Attention: Surveillance Department.
(b) The Insurer shall receive notice of any amendments to the Bond Ordinance or this
Resolution prior to the adoption of such amendments by the City.
(c) The City shall provide copies of all amendments to the Bond Ordinance or this
Resolution which required the consent of the Bond Insurer to Standard & Poors.
SECTION 12. A WARD OF BIDS. The Finance Director is hereby authorized to accept the
bids for the Series 2004 Bonds. The City Manager and the Finance Director are hereby authorized to
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award the sale of the Series 2004 Bonds on their determination of the best bid submitted in
accordance with the terms of the Notice of Bond Sale provided for herein so long as the true interest
cost rate shall not exceed 6.0% on the Series 2004 Bonds. The City Manager and the Finance
Director are hereby authorized to award the sale of the Series 2004 Bonds as set forth above or to
reject all bids for the Series 2004 Bonds. Such award shall be final.
SECTION 13. PRIOR RESOLUTIONS. To the extent the provisions of this Resolution are
inconsistent with the provisions of prior resolutions regarding the Series 2004 Project or the Series
2004 Bonds, provisions of this Resolution shall control and supercede the inconsistent provisions of
such Resolutions.
SECTION 14. EFFECTIVE DATE. This resolution shall take effect immediately upon
adoption.
PASSED AND ADOPTED this _ day of
,2004.
CITY OF CLEARWATER, FLORIDA
Brian J. Aungst
Mayor
Approved as to form:
Attest:
Pamela K. Akin
City Attorney
Cynthia E. Goudeau
City Clerk
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EXHIBIT A
FORM OF
OFFICIAL NOTICE OF BOND SALE
$14,350,000*
CITY OF CLEARWATER, FLORIDA
STORMW A TER SYSTEM REVENUE BONDS, SERIES 2004
NOTICE IS HEREBY GIVEN that electronic (as explained below) proposals will be received
electronically via PARITY in the manner described below, until 11 :00 a.m., Clearwater Florida Time,
on August 18, 2004.
Bids must be submitted electronically via PARITY in accordance with this Notice of Bond
Sale, until 11:00 a.m., Clearwater, Florida Time, but no bid will be received after the time for
receiving bids specified above. To the extent any instructions or directions set forth in PARITY
conflict with this Notice of Bond Sale, the terms of this Notice of Bond Sale shall control. For further
information about PARITY, potential bidders may contact the financial advisor to the City, RBC
Dain Rauscher, 100 Second Avenue South, Suite 800, St. Petersburg, Florida 33701 Attn: Kevin M.
Conitz, telephone (727) 895-8853, or Parity at 40 West 23rd Street, New York, NY 10010, telephone
(212) 404-8102. In the event of a malfunction in the electronic bidding process, the bid date will
automatically change to the next business day as confirmed in a communication through Thompson
Municipal Market Monitor (TM3).
Form of Series 2004 Bonds
The Series 2004 Bonds will be issued in book entry only form, without coupons, in
denominations of $5,000 or any integral multiples thereof, and shall be dated August 15, 2004.
Principal of the Series 2004 Bonds shall be paid to the registered owners at the designated corporate
trust office of Wachovia Bank, NA TIONAL ASSOCIATION (the "Paying Agent" and "Registrar"),
upon presentment and surrender of the Series 2004 Bonds. Interest on the Series 2004 Bonds shall
be paid to the registered owners as shown on the registration books maintained by the Registrar, by
check or draft mailed to each such owner's address as shown on the registration books maintained
by the Registrar as of the fifteenth (15th) day of the calendar month preceding such interest
payment date. Interest will be payable each May 1 and November 1, commencing November 1,
2004. Interest will be calculated on the basis of a 360-day year of twelve 30-day months. For so long
as The Depository Trust Company, New York, New York, or its nominee, Cede & Co. (collectively,
"DTC") is the registered owner of the Series 2004 Bonds, payments of principal of, redemption
premium, if any, and interest on the Series 2004 Bonds will be made directly to DTC.
Disbursements of such payments to the DTC participants is the responsibility of DTC and further
disbursement of such payments from the DTC participants to the beneficial owners of the Series
2004 Bonds is the responsibility of the DTC participants.
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Initially one bond will be issued for each maturity of the Series 2004 Bonds in the aggregate
principal amount of each such maturity and registered in the name of DTC. DTC, an automated
clearing house for securities transactions, will act as securities depository for the Series 2004 Bonds.
Purchases of the Series 2004 Bonds will be made in book-entry-only form (without certification). It
shall be the responsibility of the Successful Bidder (as hereinafter defined) for the Series 2004 Bonds
to furnish to DTC an underwriters' questionnaire and to the City the CUSIP numbers of the Series
2004 Bonds not less than seven (7) days prior to the Closing Date (as hereinafter defined).
Maturity Schedule
The Series 2004 Bonds will mature on November 1 of the following years in the following
principal amounts:
Series 2004 Bonds*
Principal Principal Principal
Maturity Amount Maturity Amount Maturity Amount
11/01/2005 305,000 11/01/2014 390,000 11/01/2023 570,000
11/01/2006 310,000 11/01/2015 410,000 11/oi/2024 595,000
11/01/2007 315,000 11/01/2016 420,000 11/01/2025 625,000
11/01/2008 330,000 11/01/2017 435,000 11/01/2026 650,000
11/01/2009 330,000 11/01/2018 455,000 11/01/2027 685,000
11/01/2010 345,000 11/01/2019 475,000 11/01/2028 710,000
11/01/2011 355,000 11/01/2020 495,000 11/01/2029 750,000
11/01/2012 365,000 11/01/2021 520,000 11/01/2030 825,000
11/01/2013 380,000 11/01/2022 540,000 11/01/2031 860,000
11/01/2032 905,000
*Preliminary, subject to change
Mandatory Redemption Provisions
If the Successful Bidder designates any Series 2004 Bonds as term bonds as described under
"Designation of Term Bonds," the following mandatory redemption provisions shall apply with
respect to such designated term bonds:
The Series 2004 Bonds maturing on November I, 20_ will be subject to mandatory
redemption prior to maturity, selected by lot, or in such manner as the Registrar may deem
appropriate, at a redemption price equal to the principal amount thereof on the redemption date, on
November I, 20---J and each November 1 thereafter, from amounts deposited in the Redemption
Account in the Bond Service Fund established by the Ordinance, in the following years and
amounts as follows:
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Amortization Amortization
Year Installment Year Installment
Optional Redemption Provisions
The Series 2004 Bonds maturing on or before November 1, 2014 are not callable prior to their
maturity dates. The Series 2004 Bonds maturing after November 1, 2014 are subject to optional
redemption by the City, on and after November 1, 2014 as a whole, or in part, at any time, at the
redemption prices (expressed as percentages of principal amount) set forth below, together with
accrued interest to the date of redemption.
Redemption Period
Price
November 1, 2014 and thereafter
100%
Adjustment of Principal Amount
After final computation of the bids, to achieve desired debt service levels, the City reserves
the right either to increase or decrease any Principal Amount of the Series 2004 Bonds (or any
Amortization Installment in the case of a Term Bond) shown on the schedule of Principal Amounts
set forth above (the "Maturity Schedule"), by an amount not to exceed five percent (5%) of the stated
amount of each such Principal Amount on the Maturity Schedule and correspondingly adjust the
issue size, all calculations to be rounded to the nearest $5,000.
In the event of any such adjustment in the Series 2004 Bonds, no rebidding or recalculation
of the bid submitted with respect to such Series 2004 Bonds will be required or permitted. If
necessary, the total purchase price of the Series 2004 Bonds will be increased or decreased in direct
proportion to the ratio that the adjustment bears to the aggregate principal amount of the Series
2004 Bonds specified herein; and the Series 2004 Bonds of each maturity, as adjusted, will bear
interest at the same rate and must have the same initial reoffering yields as specified in the bid of
the Successful Bidder. However, the award will be made to the bidder whose bid produces the
lowest true interest cost, calculated as specified below, solely on the basis of the bid for the Series
2004 Bonds offered pursuant to the Bid Maturity Schedule of the relevant series of Series 2004
Bonds, without taking into account any adjustment in the amount of Series 2004 Bonds set forth in
the Bid Maturity Schedule.
Designation of Term Bonds
Bidders may specify that the annual Principal Amounts of the Series 2004 Bonds coming due
in any two or more consecutive years may be combined to form one or more maturities of Series
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,
2004 Term Bonds scheduled to mature in the last of such years with the preceding annual Principal
Amounts for such years constituting mandatory Amortization Installments of Series 2004 Bonds to
be selected by lot and redeemed at a price of par plus accrued interest in accordance with the
Resolution.
Basis of Award
Proposals must be unconditional and only for all the Series 2004 Bonds. The purchase price
bid for the Series 2004 Bonds may include a discount (including underwriters' discount and original
issue discount) not to exceed two percent (2.0%) of the principal amount of the Series 2004 Bonds
and shall specify how much of the discount is original issue discount. The purchase price bid may
also include an original issue premium (including underwriter's discount and original issue
premium) not to exceed two percent (2.0%) of the principal amount of the Series 2004 Bonds and
shall specify how much of such purchase price is original issue premium. The Series 2004 Bonds
will be insured by Ambac Assurance Corporation and the City will pay the bond insurance
premium from Bond proceeds. The purchase price bid for the Series 2004 Bonds will not deduct the
insurance premium. Only the final bid submitted by any bidder through Parity will be considered.
The City reserves the right to determine the Successful Bidder for the Series 2004 Bonds, to reject
any or all bids and to waive any irregularity or informality in any bid.
The Series 2004 Bonds will be awarded to the bidder (herein referred to as the "Successful
Bidder" as to the Series 2004 Bonds) offering such interest rate or rates and purchase price which
will produce the lowest true interest cost to the City over the life of the Series 2004 Bonds. True
interest cost for the Series 2004 Bonds (expressed as an annual interest rate) will be that annual
interest rate being twice that factor of discount rate, compounded semiannually, which when
applied against each semiannual debt service payment (interest, or principal and interest, as due)
for the Series 2004 Bonds will equate the sum of such discounted semiannual payments to the bid
price (inclusive of accrued interest). Such semiannual debt service payments begin on November 1,
2004. The true interest cost shall be calculated from September 1, 2004, the expected closing date of
the Series 2004 Bonds (the "Closing Date") and shall be based upon the principal amounts of each
serial maturity set forth in this Notice of Bond Sale and the bid price set forth in the Proposal for the
Series 2004 Bonds submitted in accordance with the Notice of Bond Sale. In case of a tie, the City
may select the Successful Bidder by lot. It is requested that each Proposal for the Series 2004 Bonds
be accompanied by a computation of such true interest cost to the City under the term of the
Proposal for Bonds, but such computation is not to be considered as part of the Proposal for Bonds.
Interest Rates Permitted
The Series 2004 Bonds shall bear interest expressed in multiples of one-eighth (1/8) or one-
twentieth (1/20) of one percent. No difference greater than 4% will be permitted between the
highest and lowest rates of coupon interest specified. Should an interest rate be specified which
results in annual interest payments not being equally divisible between the semiannual payments in
cents the first semiannual payment will be reduced to the next lower cent and the second
semiannual payment will be raised to the next higher cent.
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It shall not be necessary that all Series 2004 Bonds bear the same rate of interest, provided
that all Series 2004 Bonds maturing on the same date shall bear the same rate of interest. A rate of
interest based upon the use of split or supplemental interest payments or a zero rate of interest will
not be considered.
Paying Agent and Registrar
The Paying Agent and Registrar for the Series 2004 Bonds is Wachovia Bank, NATIONAL
ASSOCIATION through its designated office in Jacksonville, Florida.
Security
Principal of and interest on the Series 2004 Bonds to be issued pursuant to Ordinance No.
6931-02, as supplemented, and all required sinking fund, reserve and other payments shall be
payable solely from the Net Revenues of the City's Stormwater System, together with the earnings
thereon derived from the investment thereof in the Funds and Accounts established in the
Ordinance and as more fully described in the Preliminary Official Statement.
The Series 2004 Bonds do not constitute a general indebtedness of the City within the
meaning of any constitutional, statutory or charter provision or limitation, and no Bondholder shall
ever have the right to require or compel the exercise of the ad valorem taxing power of the City or
taxation of any real or personal property therein for the payment of the principal of and interest on
the Series 2004 Bonds or the making of any debt service fund, reserve or other payments provided
for in the Resolution.
Purpose
Pursuant to the Ordinance, the Series 2004 Bonds are being issued to pay a portion of the
costs of the Projects, the costs of issuing the Series 2004 Bonds and to purchase a Financial Guaranty
Insurance Policy and to make a deposit to the Debt Service Reserve Fund.
Issuance of Series 2004 Bonds
The Series 2004 Bonds will be issued and sold by the City of Clearwater, Florida, a municipal
corporation organized and existing under the laws of the State of Florida. The Series 2004 Bonds
are being issued pursuant to Ordinance No. 6378-99 enacted by the City on April 15, 1999, as
supplemented by Ordinance No. 6931-02, enacted by the City on July 18, 2002, as further amended
and supplemented by Resolution No. 04-23, enacted by the City on August 5, 2004, as further
supplemented (collectively, the "Bond Ordinance") by the City of Clearwater, Florida (the "City")
and pursuant to the provisions of Chapter 166, Florida Statutes, and other applicable provisions of
law.
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financial Guaranty Insurance Policy
A commitment to issue a Financial Guaranty Insurance Policy guaranteeing payment of
principal and interest on the Series 2004 Bonds has been obtained from Ambac Assurance
Corporation.
Proposals
Proposals for the Series 2004 Bonds are desired on forms which will be furnished by
PARITY, on behalf of the City, and be submitted electronically via PARITY.
All bidders must submit a "Good Faith Deposit" in the amount of $100,000 (the "Deposit") in
the form of a financial surety bond of Financial Security Assurance, Inc. (the "Financial Surety
Bond"). Such Financial Surety Bond must be submitted to the City prior to the sale. The Financial
Surety Bond must identify the Bidder whose Deposit is guaranteed by such Financial Surety Bond.
The successful bidder is required to submit its good faith deposit by wire transfer not later
than11:00 a.m. eastern time, on the next business day following the award, as instructed by the
City's Financial Advisor. If such deposit is not received by that time, the City shall make a claim
under the Financial Surety Bond to satisfy the good faith deposit requirement. The wire of the
successful bidder or proceeds of a claim under the Financial Surety Bond, as applicable, will be
deposited by the City in an interest-bearing account and be retained and applied towards the
purchase price of the Series 2004 Bonds pending full performance by the successful bidder, or will
be forfeited to the City and applied as full liquidated damages upon failure of the successful bidder
to take up and pay for the Series 2004 Bonds. Any interest earned on the good faith deposit will be
retained by and inure to the benefit of the City. If the Series 2004 Bonds are not delivered to the
successful bidderwithin 30 calendar days from the date of sale, without fault upon the part of the
successful bidder, such successful bidder shall not thereafter be obligated to take delivery of and
pay for the Series 2004 Bonds and the good faith deposit amount will be promptly paid to the
successful bidder or Financial Security Assurance, Inc., as applicable.
Delivery and Payment
It is anticipated that the Series 2004 Bonds in book entry only form will be available for
delivery on September 1, 2004, in New York, New York, at The Depository Trust Company, or some
other date and place to be mutually agreed upon by the Successful Bidder and the City against the
payment of the purchase price therefor including accrued interest calculated on a 360-day year
basis, less the amount of the good faith deposit, in immediately available Federal Reserve funds
without cost to the City.
Closing Documents
The City will furnish to the Successful Bidder upon delivery of the Series 2004 Bonds the
following closing documents in a form satisfactory to Bond Counsel: (I) signature and no-litigation
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certificate; (2) federal tax certificate; (3) certificate regarding information in the Official Statement;
and (4) seller's receipt as to payment. A copy of the transcript of the proceedings authorizing the
Series 2004 Bonds will be delivered to the Successful Bidder of the Series 2004 Bonds upon request.
Copies of the form of such closing papers and certificates may be obtained from the City.
Information Statement
Section 218.38(1)(b)I, Florida Statutes requires that the City file, within 120 days after
delivery of the Series 2004 Bonds, an information statement with the Division of Bond Finance of the
State of Florida (the "Division") containing the following information: (a) the name and address of
the managing underwriter, if any, connected with the Series 2004 Bonds; (b) the name and address
of any attorney or financial consultant who advised the City with respect to the Series 2004 Bonds;
and (c) any fee, bonus, or gratuity paid, in connection with the bond issue, by an underwriter or
financial consultant to any person not regularly employed or engaged by such underwriter or
consultant and (d) any other fee paid by the City with respect to the Series 2004 Bonds, including
any fee paid to attorneys or financial consultants. The Successful Bidder will be required to deliver
to the City at or prior to the time of delivery of the Series 2004 Bonds, a statement signed by an
authorized officer containing the same information mentioned in (a) and (c) above. The Successful
Bidder shall also be required, at or prior to the delivery of the Series 2004 Bonds, to furnish the City
with such information concerning the initial prices at which a substantial amount of the Series 2004
Bonds of each maturity were sold to the public as the City shall reasonably request.
Pursuant to Section 218.385(2) and (3) of the Florida Statutes, as amended, a truth-in-
bonding statement will be required from each bidder as to the Series 2004 Bonds as part of their bid
in the following form:
"The City of Clearwater, Florida, is proposing to issue $[14,350,000] original
aggregate principal amount of Stormwater System Revenue Bonds, Series 2004, for
the purpose of paying (i) a portion of the costs of the Projects, (ii) the costs of issuing
the Series 2004 Bonds, (iii) the premium on the Bond Insurance Policy, if any and (iv)
the premium for the debt service reserve fund insurance or to make a deposit to the
Reserve Fund, all as further described in Ordinance No. 6931-02. The final maturity
date of the Series 2004 Bonds is November 1, 2032, and the Series 2004 Bonds are
expected to be repaid over a period of twenty eight (28) years. At a forecasted
average interest rate of _ % per annum, total interest paid over the life of the
Series 2004 Bonds will be $ . The source of repayment or security for this
proposal is the City's Stormwater System Net Revenues (as defined in the
Ordinance) and moneys and investments held in the funds created under the said
Ordinance. Authorizing the Series 2004 Bonds will result in $ not
being available to finance the other capital projects of the City. This truth-in-
bonding statement prepared pursuant to Section 218.385(2) and (3) of the Florida
Statutes, as amended, is for informational purposes only and shall not affect or
control the actual terms and conditions of the Series 2004 Bonds."
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Legal Opinion
The Successful Bidder will be furnished, without cost, with the approving opinion of Bryant
Miller & Olive P.A., Tallahassee, Florida, to the effect that based on existing law, and assuming
compliance by the City with certain covenants and requirements of the Internal Revenue Code of
1986, as amended (the "Code"), regarding use, expenditures, investment of proceeds and the timely
payment of certain investment earnings to the United States Treasury, the interest on the Series 2004
Bonds is not includable in the gross income of individuals, however, interest on the Series 2004
Bonds will be included in the calculation of the alternative minimum tax liabilities of corporations.
The Code contains other provisions that could result in tax consequences, upon which Bond
Counsel renders no opinion, as a result of ownership of the Series 2004 Bonds or the inclusion in
certain computations (including, without limitation, those related to the corporate alternative
minimum tax and environmental tax) of interest that is excluded from gross income.
Official Statement
The Preliminary Official Statement, copies of which may be obtained as described below, is
in a form "deemed final" by the City for purposes of SEC Rule 15c2-12(b)(I) (except for certain
permitted omissions as described in such rule) but is subject to revision, amendment and
completion in a final Official Statement. Upon the sale of the Series 2004 Bonds, the City will
publish a final Official Statement in substantially the same form as the Preliminary Official
Statement. Copies of the final Official Statement will be provided, at the City's expense, on a timely
basis in such quantities as may be necessary for the Successful Bidder's regulatory compliance.
It is not the intention or the expectation of the City to print the name(s) of the Successful
Bidder as to the Series 2004 Bonds on the cover of the Official Statement.
Continuing Disclosure
The City has covenanted to provide ongoing disclosure in accordance with Rule 15c2-12 of
the Securities and Exchange Commission. See "Appendix D -- Form of Continuing Disclosure
Certificate" attached to the Preliminary Official Statement.
CUSIP Number
It is anticipated that CUSIP identification numbers will be printed on the Series 2004 Bonds,
but neither the failure to print such number on any Series 2004 Bonds nor any error with respect
thereto shall constitute cause for failure or refusal by the Successful Bidder to accept delivery of and
pay for the Series 2004 Bonds in accordance with its agreement to purchase the Series 2004 Bonds.
All expenses in relation to the printing of CUSIP numbers on the Series 2004 Bonds shall be paid for
by the City; provided, however, that the CUSIP Service Bureau charge for the assignment of said
number shall be the responsibility of and shall be paid for by the Successful Bidder.
A-8
Copies of Documents
Copies of the Preliminary Official Statement, this Official Notice of Bond Sale and the
Official Bid Form and further information which may be desired, may be obtained from the City's
Financial Advisor, RBC Dain Rauscher Inc., 100 Second Avenue South, Suite 800, St. Petersburg,
Florida 33701, Attn: Kevin M. Conitz, telephone (727) 895-8853.
Amendment and Notices
Amendments hereto and notices, if any, pertaining to this offering shall be made through
Thompson Municipal Market Monitor (TM3) or similar information distribution service.
CITY OF CLEARWATER, FLORIDA
/s/ Brian T. Aungst
Mayor
A-9
EXHIBIT B
FORM OF
SUMMARY NOTICE OF SALE
$14,350,000*
CITY OF CLEARWATER, FLORIDA
Stormwater System Revenue Bonds
Series 2004
NOTICE IS HEREBY GIVEN, that bids will be received by the City Manager and the Finance
Director of the City of Clearwater, Florida, electronically through PARITY, subject to the provisions
of the Official Notice of Bond Sale.
Sale Date:
August 18, 2004
Time:
11:00 a.m., Clearwater, Florida Time
Bonds Dated: August 15, 2004
Maturities: Payable November 1 in the years and amounts as follows:
Series 2004 Bonds*
Principal Principal Principal
Maturity Amount Maturity Amount Maturity Amount
11/01/2005 305,000 11/01/2014 390,000 11/01/2023 570,000
11/01/2006 310,000 11/01/2015 410,000 11/01/2024 595,000
11/01/2007 315,000 11/01/2016 420,000 11/01/2025 625,000
11/01/2008 330,000 11/01/2017 435,000 11/01/2026 650,000
11/01/2009 330,000 11/01/2018 455,000 11/01/2027 685,000
11/01/2010 345,000 11/01/2019 475,000 11/01/2028 710,000
11/01/2011 355,000 11/01/2020 495,000 11/01/2029 750,000
11/01/2012 365,000 11/01/2021 520,000 11/01/2030 825,000
11/01/2013 380,000 11/01/2022 540,000 11/01/2031 860,000
11/01/2032 905,000
*Preliminary, subject to change
B-1
Interest
Payment Dates:
Payable May 1 and November 1, commencing November 1, 2004.
Legal Opinion:
Bryant Miller & Olive P.A.,
Tallahassee, Florida
F or copies of the Official Notice of Bond Sale and the Preliminary Official Statement of the City
of Clearwater, Florida, please contact the City's Financial Advisor, RBC Dain Rauscher Inc., 100
Second Avenue South, Suite 800, St. Petersburg, Florida 33701, Attn: Kevin M. Conitz, telephone
(727) 895-8853. The Proposed Form is to be provided by PARITY.
B-1
EXHIBIT C
FORM OF PRELIMINARY OFFICIAL STATEMENT
C-l
NEW ISSUE - FULL BOOK-ENTRY
Ratings: Moody's: "Aaa" (Insured)
"A3" (Underlying)
S&P: "AAA" (Insured)
"A" (Underlying)
Fitch: "AAA""(Insured)
"A" (Underlying)
(see "RATINGS" herein)
In the opinion of Bond Counsel, assuming continuing compliance by the City with various covenants in the Series 2004 Ordinance, under
existing statutes, regulations and judicial decisions, the interest on the Series 2004 Bonds will be excluded from gross income for federal income tax
purposes to the owners thereof. The Series 2004 Bonds are, under existing laws and regulations, also exempt from intangible taxes imposed pursuant
to Chapter 199, Florida Statutes. See "Tax Exemption" herein for a description of alternative minimum tax treatment and certain other tax
consequences to owners of the Series 2004 Bonds.
$14,350,000*
CITY OF CLEARWATER, FLORIDA
Stormwater System Revenue Bonds
Series 2004
Dated: August 15, 2004
Due: November 1, as shown on the inside cover page
The Stormwater System Revenue Bonds, Series 2004 (the "Series 2004 Bonds") of the City of Clearwater, Florida (the "City") are being issued in
fully registered form and, when initially issued, will be registered to Cede & Co., as nominee of The Depository Trust Company, New York, New York.
(paying Agent] is acting as the Paying Agent and Bond Registrar for the Series 2004 Bonds. The Series 2004 Bonds will be purchased in book-entry form
only, in the denomination of $5,000 or any integral multiple thereof. There will be no physical delivery of bond certificates to individual Bondholders.
Interest on the Series 2004 Bonds will be payable semi-annually beginning on November 1, 2004 and on each May 1 and November 1 thereafter. Principal of
and premium, if any, on the Series 2004 Bonds will be payable at maturity or upon redemption prior to maturity.
The Series 2004 Bonds are subject to redemption prior to maturity as described herein.
The Series 2004 Bonds are being issued pursuant to the authority of and in full compliance with the charter of the City, the Constitution and the
laws ofthe State of Florida, particularly Chapter 166, Part II, Florida Statutes, and other applicable provisions oflaw, and Ordinance No. 6378-99 enacted
by the City on April 15, 1999, as amended and supplemented by Ordinance No. 6931-02, enacted by the City on July 18, 2002, as further amended and
supplemented (the "Ordinance") for the purpose of (i) paying the costs of capital improvements (as more particularly described herein under the caption "THE
SERIES 2004 PROJECT") to the City's stormwater management system (as more particularly described herein, the "System"); (ii) making a deposit to the
subaccount established in the Reserve Fund for the Series 2004 Bonds in the amount of the Reserve Requirement for the Series 2004 Bonds; and (iii) paying
certain costs of issuance of the Series 2004 Bonds, including the financial guaranty insurance premium. The Series 2004 Bonds and the interest thereon are
payable solely from the Pledged Revenues, which consist of Net Revenues derived from the operation of the System and with respect to each Series of Bonds,
the moneys on deposit in the various funds and accounts created pursuant to the Ordinance allocable to such Series of Bonds, with the exception of the
Rebate Fund. The Ordinance permits the issuance of Additional Parity Obligations payable from the Net Revenues upon the conditions described herein
under the caption "SECURITY FOR THE SERIES 2004 BONDS - Additional Parity Obligations."
Ambac Assurance has made a commitment to issue a financial guaranty insurance policy (the "Financial Guaranty Insurance Policy") relating to
the Series 2004 Bonds effective as of the date of issuance of the Series 2004 Bonds. For a discussion of the terms and provisions of such policy, including
the limitations thereof, see "MUNICIPAL BOND INSURANCE" herein.
[INSURER LOGO]
MATURITY SCHEDULE
(See enclosed Notice of Sale)
(Accrued interest to be added)
ELECTRONIC BIDS FOR THE SERIES 2004 BONDS WILL BE ACCEPTED
IN ACCORDANCE WITH THE OFFICIAL NOTICE OF SALE.
The Series 2004 Bonds are offered when, as and if issued and accepted by the Underwriter subject to the approval of legality by Bryant Miller & Olive,
P.A., Tallahassee, Florida, Bond Counsel. Certain other legal matters will be passed upon for the City by Pamela K. Akin, Esquire, City Attorney, and by
Nabors, Giblin & Nickerson, P.A., Tampa, Florida, Disclosure Counsel to the City. RBC Dain Rauscher Inc., St. Petersburg, Florida, is serving as Financial
Advisor to the City. It is expected that the Series 2004 Bonds, in definitive book-entry form, will be available for delivery through DTC in New York, New York
on or about September 1, 2004.
August , 2004
* Preliminary, subject to change
CITY OF CLEARWATER, FLORIDA
ELECTED OFFICIALS
MAYOR - COUNCILMAN
Brian J. Aungst, Sr.
VICE MAYOR - COUNCILMAN
Frank Hibbard
COUNCIL
Hoyt Hamilton
Carlen Petersen
Bill Jonson
APPOINTED OFFI CIALS
William B. Horne, II, City Manager
Pamela K. Akin, Esq., City Attorney
Margaret L. Simmons, CPA, Finance Director
BOND COUNSEL
Bryant Miller & Olive, P.A.
Tallahassee, Florida
FINANCIAL ADVISOR
RBC Dain Rauscher Inc.
St. Petersburg, Florida
REGISTRAR AND PAYING AGENT
Wachovia Bank, National Association
Jacksonville, Florida
No dealer, broker, salesman or other person has been authorized to give any
information or to make any representations, other than those contained in this Official
Statement, in connection with the offering ofthe Series 2004 Bonds described herein,
and if given or made, such information or representations must not be relied upon as
having been authorized by the City or the Underwriter. This Official Statement does
not constitute an offer to sell the Series 2004 Bonds or a solicitation of an offer to buy
nor shall there be any sale of the Series 2004 Bonds by any person in any jurisdiction
in which it is unlawful for such person to make such offer, solicitation or sale. The
information set forth herein has been furnished by the City and by other sources which
are believed to be reliable, but it is not guaranteed as to accuracy or completeness, and
is not to be construed as a representation or contract, by the Underwriter. The
information and expressions of opinion herein are subject to change without notice and
neither the delivery of the Official Statement nor any sale made hereunder shall, under
any circumstances, create any implication that there has been no change in the affairs
of the City since the date hereof.
IN CONNECTION WITH THE OFFERING, THE UNDERWRITER MAY OVER-
ALLOT OR EFFECT TRANSACTIONS WHICH STABILIZE OR MAINTAIN THE
MARKET PRICE OF THE SERIES 2004 BONDS OFFERED HEREBY AT A LEVEL
ABOVE THAT WHICH MIGHT OTHERWISE PREVAIL IN THE OPEN MARKET.
SUCH STABILIZING, IF COMMENCED, MAY BE DISCONTINUED AT ANY TIME.
The Series 2004 Bonds have not been registered with the Securities and
Exchange Commission under the Securities Act of 1933, as amended, nor has
the Ordinance been qualified under the Trust Indenture Act of 1939, as
amended, in reliance upon exemptions contained in such acts. The
registration or qualification of the Series 2004 Bonds in accordance with
applicable provisions of the securities laws of the States, if any, in which the
Series 2004 Bonds have been registered or qualified and the exemption from
registration or qualification in certain other states cannot be regarded as a
recommendation thereof. Neither these States nor any of their agencies have
passed upon the merits of the Series 2004 Bonds or the accuracy or
completeness of this Official Statement. Any representation to the contrary
may be a criminal offense.
TABLE OF CONTENTS
Page
INTRODUCTORY STATEMENT ............................. ................ ...... ....................... ....... 1
THE SERIES 2004 PROJECTS.......... ............................................................. ............. 4
DESCRIPTION OF THE SERIES 2004 BONDS .........................................................5
General................................................................................................................ 5
Optional Redemption........ ....... .......... ............ .............................. ........ ... ........ .... 6
Mandatory Redemption ......... ......... ...................................... ................. ............. 7
Notice of Redemption......................... ............. ...................... ....... .......... .... ......... 8
Book-Entry Only System. .......... .................. ....................... ........ ......... ............... 8
SECURITY FOR THE SERIES 2004 BONDS ........................................................... 11
Series 2004 Bonds Not a Debt of the City........................................................ 14
Outstanding Parity Obligations ........ ................... .... ............ ...... ....... ............... 14
MUNICIPAL BOND INSURANCE ............. .................. ...... ..................... ....... .... ... .... 15
DEBT SERVICE REQUIREMENTS. ....... ........... .......... ....... ......... ............... ........ ...... 19
SOURCES AND USES OF FUNDS............................................................................ 20
THE STORMWATER MANAGEMENT SySTEM..................................................... 21
FINANCIAL STATEMENTS............... .... ..... .............. ..... ....... ... ........ ................. ........ 24
INVESTMENT POLl CY OF THE CITy..................................................................... 25
LEGALITY FOR INVESTMENT... ......... .... ............ ......... ....... ..... ... ...... ............ .... ...... 25
TAX EXEMPTION.. ................ ..... ....... ...... .... ............................................... ................ 26
RATINGS .... ...... ........ ........ .... ............................................ .............. ............ ......... ........ 27
LITI GATI 0 N................................................................................................................ 28
ADVISORS AND CONSULTANTS ............................................................................29
CONTINUING DISCLOSURE....... .... ...................... ...... ...... ...... .... ......... ...... ....... ....... 30
ENFORCEABILITY OF REMEDIES ................ .... .............. ..... ........... ....... ...... .......... 30
CERTAIN LEGAL MATTERS .... ......... .............. ....... ..... ... ......... ............ ..... ..... ........... 31
DISCLOSURE REQUIRED BY FLORIDA BLUE SKY REGULATIONS................ 31
FINANCIAL ADVISOR............ ........................................ .......... ................................. 32
MISCELLANEOUS .....................................................................................................32
Appendices:
Appendix A
Appendix B
General Description of the City and Selected Statistics
Excerpts from the City's Comprehensive Annual Financial Report
for the Fiscal Year Ended September 30, 2003
Conformed Copy of Amended Ordinance
Form of Continuing Disclosure Certificate
Form of Bond Counsel Opinion
Form of Municipal Bond Insurance Policy
Appendix C
Appendix D
Appendix E
Appendix F
OFFICIAL STATEMENT
$14,350,000*
CITY OF CLEARWATER, FLORIDA
STORMWATER REVENUE BONDS, SERIES 2004
INTRODUCTORY STATEMENT
The purpose of this Official Statement, which includes the cover page and the
Appendices, is to provide information concerning the City of Clearwater, Florida (the
"City") and the City's $14,350,000* Stormwater System Revenue Bonds, Series 2004
(the "Series 2004 Bonds"). The Series 2004 Bonds are issued pursuant to the authority
of and in full compliance with (a) the charter of the City, (b) the Constitution and the
laws of the State of Florida, particularly Chapter 166, Part II, Florida Statutes, and
other applicable provisions oflaw, and (c) Ordinance No. 6378-99 enacted by the City
on April 15, 1999 (the "Ordinance"), as amended by Ordinance No. 6931-02, enacted by
the City on July 18, 2002, as supplemented.
The Series 2004 Bonds are being issued for the purpose of (i) paying the costs of
capital improvements (as more particularly described herein under the caption "THE
SERIES 2004 PROJECTS," the "Series 2004 Projects") to the City's stormwater
management system (as more particularly described herein, the "System"); (ii) making
a deposit to the subaccount established in the Reserve Fund for the Series 2004 Bonds
in the amount of the Reserve Requirement attributable to the Series 2004 Bonds; and
(iii) paying certain costs of issuance of the Series 2004 Bonds, including the financial
guaranty insurance premium. The Series 2004 Bonds and the interest thereon are
payable solely from the Pledged Revenues, which are comprised of Net Revenues
derived from the operation ofthe System and with respect to such Series of Bonds, the
moneys on deposit in the various funds and accounts created pursuant to the
Ordinance allocable to each Series of Bonds, with the exception of the Rebate Fund.
The Series 2004 Bonds are the third Series of Bonds issued which are payable from
Net Revenues of the System. The City has previously issued $7,500,000 of its
Stormwater System Revenue Bonds, Series, 1999 (the "Series 1999 Bonds"), which are
currently Outstanding in the aggregate principal amount of $7,020,000 and
$24,685,000 of its Stormwater System Revenue Bonds, Series 2002 (the "Series 2002
Bonds"), which are currently Outstanding in the aggregate principal amount of
$24,245,000, both of which Series rank on a parity with the Series 2004 Bonds as to the
pledge ofthe Net Revenues. The scheduled payment ofprincipal of and interest on the
Series 2004 Bonds will be insured by a financial guaranty insurance policy to be issued
simultaneously with the delivery of the Bonds by AMBAC Indemnity ("AMBAC"), as
1
described herein. For a discussion of the terms and provisions of such policy, including
the limitations thereof, see "MUNICIPAL BOND INSURANCE" herein.
Neither the Series 2004 Bonds nor the interest thereon constitute a general
obligation or indebtedness of the City within the meaning of any constitutional,
statutory or charter provision or limitation. No owner or owners of any Series 2004
Bonds shall ever have the right to compel the exercise of the ad valorem taxing power
of the City, or any other taxing power in any form on any real or personal property of
the City, to pay the Series 2004 Bonds or the interest thereon. The City shall not be
obligated to pay the Series 2004 Bonds or any interest thereon except from the Pledged
Revenues, in the manner provided in the Ordinance referred to herein.
A Reserve Fund has been established for the benefit of the Series 2004 Bonds.
From the proceeds of the Series 2004 Bonds, the City will make a deposit into a
subaccount in the the Reserve Fund established for the Series 2004 Bonds equal to the
Reserve Fund Requirement applicable to the Series 2004 Bonds, which is equal to the
lesser of (i) the Maximum Bond Service Requirement for the Series 2004 Bonds, (ii)
125% ofthe Average Annual Bond Service Requirement of the Series 2004 Bonds, or
(iii) the largest amount as shall not adversely affect the exclusion of interest on the
Series 2004 Bonds from gross income for Federal income tax purposes (see
"SECURITY FOR THE Series 2004 Bonds - Reserve Account").
The City covenants in the Ordinance to fix, establish and maintain such rates,
and collect such fees, rentals and other charges for the services and facilities of the
System (as herein defined) which will always provide Net Revenues in each year
sufficient to pay one hundred fifteen percent (115%) ofthe Bond Service Requirement
becoming due in such year on the Outstanding Bonds.
The City may issue Additional Parity Obligations, payable on a parity from the
Net Revenues with the Series 2004 Bonds, for the purpose of refunding a part of the
Outstanding Bonds, or financing the cost of extensions, additions and improvements to
the System and for the acquisition and construction of, and extensions and
improvements to stormwater management systems which are to be consolidated with
the System and operated as a single combined utility, provided that, among other
requirements, certain earnings tests relating historical Net Revenues to the Maximum
Bond Service Requirement of all Bonds Outstanding after the issuance of such
Additional Parity Obligations can be met. Such historical Net Revenues may be
adjusted by the Consulting Engineer as provided in the Ordinance.
Definitions of certain words and terms having initial capitals used herein and in
the Ordinance (as defined below in "Authority For Issuance") are contained in the
"Conformed Copy of Amended Ordinance" in Appendix C hereto.
2
The references, excerpts and summaries of all documents referred to herein do
not purport to be complete statements of the provisions of such documents, and
reference is directed to all such documents for full and complete statements of all
matters of fact relating to the Series 2004 Bonds, the security for the payment of the
Series 2004 Bonds, and the rights and obligations of holders thereof. The information
contained in this Official Statement involving matters of opinion or of estimates,
whether or not so expressly stated, are set forth as such and not as representations of
fact, and no representation is made that any ofthe estimates will be realized. Neither
this Official Statement nor any statement which may have been made verbally or in
writing is to be construed as a contract with the holders of the Series 2004 Bonds.
3
THE SERIES 2004 PROJECTS
The City has identified a need for approximately $66.3 million in capital projects
for the stormwater system from 2004 through 2009, calling for funding from bond
proceeds in 2004 of approximately $13,164,580 in projects, in 2006 of approximately
$7,223,302 in projects and in 2008 of approximately $10,542,926 in projects. The
following is a list of the Series 2004 Projects anticipated to be financed from the Series
2004 Bonds:
Storm Pipe System Improvements
Prospect Lake Park
Kapok Flood Resolution
Myrtle Avenue Drainage Improvements
Storm System Expansion
Lake Bellevue Stormwater Improvements
Alligator Creek Drainage Improvements
$2,000,000
200,000
1,640,000
6,512,140
607,440
1,000,000
1.205,000
Total
$13,164,580
4
DESCRIPTION OF THE SERIES 2004 BONDS
General
The Series 2004 Bonds will be dated August 15, 2004. The Series 2004 Bonds
will bear interest at the rates and mature on November 1 in the amounts and at the
times set forth on the cover page of this Official Statement. The Series 2004 Bonds are
to be issued as fully registered bonds in denominations of $5,000 or integral multiples
thereof. Interest on the Series 2004 Bonds will be payable semiannually on May 1 and
November 1 of each year, commencing November 1, 2004, by check or draft mailed to
the registered owners, at their addresses as they appear on the registration books of
the City maintained by the Bond Registrar, as of the 15th day (whether or not a
business day) of the month preceding the interest payment date (the "Record Date").
Owners of $1,000,000 or more in aggregate principal amount of Series 2004 Bonds may
receive interest by wire transfer, at the Owner's expense, to a bank account designated
in writing by the Owner not later than the Record Date. Principal of, and premium if
any, are payable at maturity, or upon redemption prior to maturity, upon presentation
and surrender thereof at the corporate trust office of the Paying Agent. Wachovia
Bank, National Association, Jacksonville, Florida, is acting as Paying Agent and Bond
Registrar for the Series 2004 Bonds.
The Series 2004 Bonds will be initially issued in the form of a single fully
registered Bond for each maturity ofthe Series 2004 Bonds. Upon initial issuance, the
ownership of each such Series 2004 Bonds will be registered in the registration books
kept by the Bond Registrar, in the name of Cede & Co., as nominee of The Depository
Trust Company, New York, New York ("DTC"). While held in book-entry form, all
payments of principal, interest and premium, if any, on the Series 2004 Bonds
will be made to DTC or the DTC Nominee as the sole registered owner of the
Series 2004 Bonds and payments to Beneficial Owners will be the
responsibility of DTC and the DTC Participants as described below. See
"Book-Entry Only System."
With respect to Series 2004 Bonds registered in the name of Cede & Co., as
nominee ofDTC, neither the City, nor the Paying Agent will have any responsibility or
obligation to any DTC Participant or to any indirect DTC Participant. See "Book-Entry
Only System" for the definition of "DTC Participant." Without limiting the
immediately preceding sentence, neither the City nor the Bond Registrar and the
Paying Agent will have any responsibility or obligation with respect to: (i) the accuracy
ofthe records ofDTC or any DTC Participant with respect to any ownership interest in
5
the Series 2004 Bonds; (ii) the delivery to any DTC Participant or any other person
other than a registered owner, as shown in the registration books kept by the Bond
Registrar, of any notice with respect to the Series 2004 Bonds, including any notice of
redemption; or (iii) the payment to any DTC Participant or any other person, other
than a registered owner, as shown in the registration books kept by the Bond
Registrar, of any amount with respect to principal of, premium, if any, or interest on
the Series 2004 Bonds. The City, the Bond Registrar and the Paying Agent may treat
and consider the person in whose name each Series 2004 Bonds is registered in the
registration books kept by the Bond Registrar as the holder and absolute owner of such
Bond for the purpose of payment of principal of, premium, if any, and interest with
respect to such Bond, for the purpose of giving notices of redemption and other matters
with respect to such Bond, for the purpose of registering transfers with respect to such
Bond, and for all other purposes whatsoever. The Paying Agent will pay all principal
of, premium, if any, and interest on the Series 2004 Bonds only to or upon the order of
the respective registered owners, as shown in the registration books kept by the Bond
Registrar, or their respective attorneys duly authorized in writing, as provided in the
Ordinance, and all such payments will be valid and effectual to satisfy and discharge
the City's obligations with respect to payment of principal of, premium, if any, and
interest on the Series 2004 Bonds to the extent of the sums so paid. No person other
than a registered owner, as shown in the registration books kept by the Bond
Registrar, will receive a certificated Bond evidencing the obligation of the City to make
payments of principal of, premium, if any, and interest on the Series 2004 Bonds
pursuant to the provisions of the Ordinance.
Optional Redemption
The Series 2004 Bonds maturing on or before November 1, 2014 are not callable
prior to their maturity dates. The Series 2004 Bonds maturing after November 1, 2014
are subject to optional redemption by the City, on and after November 1, 2014, as a
whole or in part at any time thereafter, from the maturities selected by the City, and
by lot within a maturity ifless than an entire maturity is redeemed, at the redemption
prices (expressed as percentages of principal amount) set forth below, together with
accrued interest to the date of redemption:
Redemption Period
Price
November 1, 2014 and thereafter
100
6
Mandatory Redemption
If the Successful Bidder designates any Series 2004 Bonds as term bonds as
described under "Designation of Term Bonds" in the Notice of Sale, the following
mandatory redemption provisions will apply with respect to such designated term
bonds:
The Series 2004 Bonds maturing on November 1, will be subject to mandatory
redemption prior to maturity, by lot, in such manner as the Registrar may deem
appropriate, at a redemption price equal to the principal amount thereof plus interest
accrued to the redemption date, on November 1, , and on each November 1
thereafter, in the following principal amounts in the years specified:
Year
Amortization
Installment
Year
Amortization
Installment
As long as the book-entry-only system is used for determining beneficial ownership
of the Series 2004 Bonds, notice of redemption will only be sent to Cede & Co. Cede &
Co. will be responsible for notifying the DTC Participants, who will in turn be
responsible for notifying the Beneficial Owners (as such terms are described below
under the heading "Book-Entry Only System"). Any failure of Cede & Co. to notify any
DTC Participant, or of any DTC Participant to notify the Beneficial Owner of any such
notice, will not affect the validity of the redemption of the Series 2004 Bonds.
7
Notice of Redemption
Not less than 30 days prior to the expected redemption date, notice of such
redemption shall be filed with the Paying Agent and shall be mailed, postage prepaid
to all registered owners of the Series 2004 Bonds to be redeemed at their addresses as
they appear on the registration books. Failure to give such notice by mailing to any
registered owner, or any defect therein, shall not affect the validity of any proceeding
for the redemption of other Series 2004 Bonds. Interest shall cease to accrue on any
Series 2004 Bonds duly called for prior redemption, after the redemption date, if
payment thereof has been duly provided.
Book-Entry Only System
The Series 2004 Bonds will be available in book-entry form only, in denominations
of $5,000 or any integral multiple thereof. Purchasers of the Series 2004 Bonds will
not receive certificates representing their interests in the Series 2004 Bonds
purchased. The Underwriter is to confirm original issuance purchases with statements
containing certain terms of the Series 2004 Bonds purchased.
The following information regarding The Depository Trust Company, New York,
New York ("DTC") and the book-entry only system of registration has been obtained by
the City from DTC. No representation is made by the City as to its accuracy or
correctness.
The Series 2004 Bonds will be held by DTC as securities depository. The
ownership of one fully registered Series 2004 Bonds for each maturity, as set forth on
the cover page hereof, will be registered in the name of Cede & Co., as nominee for
DTC. DTC is a limited-purpose trust company organized under the New York Banking
Law, a "banking organization" within the meaning of the New York Banking Law, a
member ofthe Federal Reserve System, a "clearing corporation" within the meaning of
the New York Uniform Commercial Code, and a "clearing agency" registered pursuant
to the provisions of Section 17A of the Securities Exchange Act of 1934, as amended.
DTC was created to hold securities of its participants ("DTC Participants") and to
facilitate the settlement of securities transactions among DTC Participants in such
securities through electronic computerized book-entry changes in accounts ofthe DTC
Participants, thereby eliminating the need for physical movement of securities
certificates. Direct Participants include securities brokers and dealers, banks, trust
companies, clearing corporations, and certain other organizations, some of which own
DTC either directly or through their representatives. Access to the DTC system is also
8
available to other entities such as security brokers and dealers, banks and trust
companies that clear through or maintain a custodial relationship with a DTC
Participant.
Purchases of the Series 2004 Bonds may be made by or through brokers and
dealers who are, or act through, DTC Participants. Such DTC Participants and the
persons for whom they acquire interests in the Series 2004 Bonds as nominees will not
receive certificated bonds, but each DTC Participant will receive a credit balance in the
records of DTC in the amount of such DTC Participant's interest in the Series 2004
Bonds, which will be confirmed in accordance with DTC's standard procedures. The
ownership interest of the actual purchaser of each Bond (the "Beneficial Owner") will
be recorded in the records of the DTC Participant. DTC Participants are required to
provide Beneficial Owners with a written confirmation of their purchase containing
details of the acquired Series 2004 Bonds. Transfers of ownership interests in the
Series 2004 Bonds will be accomplished by book entry made by DTC and by the DTC
Participants who act on behalf of the Beneficial Owners.
The Paying Agent will make payments of principal of, redemption premium, if any,
and interest on the Series 2004 Bonds to DTC or its nominee, Cede & Co., as registered
owner of the Series 2004 Bonds. The current practice ofDTC is to credit the accounts
ofthe DTC Participants immediately upon receipt of moneys in accordance with their
respective holdings as shown on the records ofDTC. Payments by DTC Participants to
Beneficial Owners will be in accordance with standing instructions and customary
practices such as those which are now in effect for municipal securities held by DTC
Participants in bearer form or registered in "street name" for the accounts of
customers, and will be the responsibility ofDTC Participants and not the responsibility
of DTC, the Paying Agent or the City subject to any statutory or regulatory
requirements as may be in effect from time to time.
The Bond Registrar, the Paying Agent and the City will send any notice of
redemption or other notice only to DTC. Any failure of DTC to advise any DTC
Participant, or of any DTC Participant to notify the Beneficial Owner, of any such
notice and its content or effect will not affect the validity of the redemption of the
Series 2004 Bonds called for redemption or of any other action premised on such notice.
Redemption of portions of any maturity of the Series 2004 Bonds will reduce the
outstanding principal amount of such maturity held by DTC. In such event, DTC may
implement, through its book-entry system, a redemption of Series 2004 Bonds held for
the account ofDTC Participants in accordance with its own rules or other agreements
with DTC Participants, and then DTC Participants may implement a redemption of
Series 2004 Bonds for the Beneficial Owners.
NEITHER THE CITY NOR THE BOND REGISTRAR OR THE PAYING
AGENT WILL HAVE ANY RESPONSIBILITY OR OBLIGATION TO DTC
9
PARTICIPANTS OR THE PERSONS FOR WHOM DTC PARTICIPANTS ACT
AS NOMINEES WITH RESPECT TO THE SERIES 2004 BONDS OR THE
PROVIDING OF NOTICE OR PAYMENT TO DTC PARTICIPANTS OR
BENEFICIAL OWNERS OR THE SELECTION OF SERIES 2004 BONDS FOR
REDEMPTION.
In the event of an insolvency of DTC, if DTC has insufficient securities in the
fungible bulk of securities in its custody (e.g., due to theft or loss) to satisfy the claims
ofDTC Participants with respect to deposited securities and is unable by application of
(i) cash deposits and securities pledged to DTC to protect DTC against losses and
liabilities; (ii) the proceeds of insurance maintained by DTC and/or DTC Participants;
or (iii) other resources, to obtain securities necessary to eliminate the insufficiency,
DTC Participants may not be able to obtain all of their deposited securities.
The City, the Bond Registrar and the Paying Agent cannot give any assurances
that DTC, DTC Participants or others will distribute payments of principal of,
premium, if any, and interest on the Series 2004 Bonds paid to DTC or its nominee, or
any redemption or other notices to the Beneficial Owners or that they will do so on a
timely basis or that DTC will serve or act in a manner described in this Official
Statement.
DTC may determine to discontinue providing its services with respect to the Series
2004 Bonds at any time by giving notice to the City and discharging its responsibilities
with respect thereto under applicable law. In addition, the City may determine to
discontinue the use of book-entry transfers through DTC (or any successor securities
depository). Under such circumstances, the City and the Bond Registrar will
authenticate and deliver certificated Series 2004 Bonds.
In the event that the book-entry only system is discontinued, the following
provisions will govern the transfer and exchange of Series 2004 Bonds. The Series
2004 Bonds will be exchanged for an equal aggregate principal amount of
corresponding bonds in other authorized denominations and of the same series and
maturity, upon surrender thereof at the principal corporate trust office of the Bond
Registrar. The transfer of any Series 2004 Bonds will be registered on the books
maintained by the Bond Registrar for such purpose only upon the surrender thereof to
the Bond Registrar with a duly executed written instrument of transfer in form and
with guaranty of signatures satisfactory to the Bond Registrar, containing written
instructions as to the details of transfer of such Series 2004 Bonds, along with the
social security number or federal employer identification number of such transferee.
The City and the Bond Registrar may charge the registered owners a sum sufficient to
reimburse them for any expenses incurred in making any exchange or transfer after
the first such exchange or transfer following the delivery ofthe Series 2004 Bonds. The
Bond Registrar or the City may also require payment from the registered owners or
10
their transferees, as the case may be, of a sum sufficient to cover any tax, fee or other
governmental charge that may be imposed in relation thereto. Such charges and
expenses shall be paid before any such new Series 2004 Bonds shall be delivered.
Neither the City nor the Bond Registrar shall be required to register the transfer or
exchange of any Series 2004 Bonds during the period commencing on the fifteenth day
(whether or not a business day) ofthe month next preceding an interest payment date
and ending on such interest payment date or, in the case of any proposed redemption of
a Series 2004 Bonds, after such Series 2004 Bonds or any portion thereof has been
selected for redemption.
SECURITY FOR THE SERIES 2004 BONDS
Net Revenues. The principal of and premium, if any, and interest on the Series
2004 Bonds are payable solely from and secured by an irrevocable first lien upon and
pledge of the Net Revenues (as hereinafter defined) derived and collected by the City
from the operation of the stormwater management system of the City (the "System").
"Net Revenues" are defined by the Ordinance to include all income or earnings,
including any income from the investment of funds, derived by the City from the
operation of the System after deduction of current expenses, either paid or accrued, for
the operation, maintenance and repair of the System, but not including reserves for
renewals and replacements, for extraordinary repairs or any allowance for
depreciation.
The Series 2004 Bonds do not constitute a general indebtedness of the City
within the meaning of any constitutional, statutory or charter provision or limitation.
The principal of and interest on the Series 2004 Bonds and all required reserve and
other payments shall be made solely from the Net Revenues. The City shall never be
required to levy ad valorem taxes on any property therein to pay the principal of and
interest on the Series 2004 Bonds or to make any of the required debt service, reserve
or other payments, and any failure to pay the Series 2004 Bonds shall not give rise to a
lien upon any property of or in the City, except the Net Revenues.
Rate Covenant. In the Ordinance, the City has covenanted to fix, establish,
revise from time to time whenever necessary, maintain and collect always such fees,
rates, rentals and other charges for the use of the products, services and facilities of
the System which will always provide Net Revenues in each year sufficient to pay one
hundred fifteen percent (115%) of the Bond Service Requirement coming due in such
year on the Outstanding Bonds. Such rates, fees, rentals or other charges may not be
reduced so as to render them insufficient to provide revenues for the purposes provided
therefor by the Ordinance.
11
.~
Reserve Fund. The Ordinance creates a separate account in the Reserve
Fund to be funded, or into which there shall be deposited a reserve fund surety policy
providing coverage, in an amount equal to the Reserve Requirement applicable to each
Series of Bonds issued pursuant to the Ordinance. The "Reserve Requirement" will be
funded from the proceeds of the Series 2004 Bonds in an amount equal to the lesser of
(i) the Maximum Bond Service Requirement for the Series 2004 Bonds, (ii) 125% of the
Average Annual Bond Service Requirement of the Series 2004 Bonds, or (iii) the largest
amount as shall not adversely affect the exclusion of interest on the Series 2004 Bonds
from gross income for Federal income tax purposes.
Additional Parity Obligations. Additional Parity Obligations, payable on a
parity from the Net Revenues with the Series 2004 Bonds, may be issued for the
purpose :oLrefunding a part of the outstanding Bonds or financing the cost of
extensions,' additions and improvements to the System and for the acquisition and
constructiOIl:" of, and extensions, additions and improvements to stormwater
management systems which are to be consolidated with the System and operated as a
single combined utility. Additional Parity Obligations, other than for refunding
purposes, will be issued only upon compliance with all of the conditions set forth in the
Ordinance,iincluding the following:
(1) There shall have been obtained and filed with the Clerk a
certificate of the Finance Director stating: (a) that the books and records of the City
relative to the System and the Net Revenues have been reviewed by an independent
certified public accountant; and (b) the amount of the Net Revenues derived for any
consecutive twelve (12) months out ofthe preceding twenty-four (24) months preceding
the date of issuance ofthe proposed Additional Parity Obligations as adjusted pursuant
to paragraphs 2, 3, 4 and/or 5 below, is equal to not less than 120% of the Maximum
Bond Service Requirement becoming due in any Fiscal Year thereafter on (i) all Bonds
issued under the Ordinance, if any, then Outstanding, and (ii) on the Additional Parity
Obligations with respect to which such certificate is made.
(2) Upon recommendation of the Consulting Engineers, the Net
Revenues certified pursuant to paragraph 1(b) above may be adjusted by including: (a)
100% of the additional Net Revenues which in the opinion of the Consulting Engineer
would have been derived by the City from rate increases adopted before the Additional
Parity Obligations are issued, if such rate increases had been implemented during the
test period described in paragraph 1(b) above, and (b) 100% of the additional Net
Revenues estimated by the Consulting Engineer to be derived during the first full
twelve month period after the facilities of the System are extended, enlarged, improved
or added to with the proceeds of the Additional Parity Obligations with respect to
which such certificate is made.
12
~
a
(3) Upon recommendation of the Consulting Engineers if the
Additional Parity Obligations are to be issued for the purpose of acquiring an existing
stormwater system and/or any other utility system, the Net Revenues certified
pursuant to paragraph l(b) above may be adjusted by including: 80% of the additional
estimated Net Revenues which in the written opinion of the Consulting Engineers will
be derived from the acquired facility during the first full 12-month period after the
issuance of such Additional Parity Obligations (the Consulting Engineers' report shall
be based on the actual operating revenues ofthe acquired utility for a recent 12-month
period adjusted to reflect the City's ownership and the City's rate structure in effect
with respect to the System at the time of the issuance of the Additional Parity
Obligations).
(4) Upon recommendation of the Consulting Engineer, ifthe City shall
have entered into a contract, which contract shall be for a duration of not less than the
final maturity of the proposed Additional Parity Obligations, with any public body,
whereby the City shall have agreed to furnish any services creating Gross Revenues,
then the Net Revenues certified pursuant to paragraph 1(b) above may be increased (to
the extent such amounts were not otherwise reflected in such Net Revenues) by the
minimum amount which the public body shall guarantee to pay in anyone year for the
furnishing of services by the City, after deducting from such payment the estimated
Cost of Operation and Maintenance attributable in such year to such services.
(5) Upon recommendations ofthe Consulting Engineers, ifthere is an
estimated increase in Net Revenues to be received by the City as a result of additions,
extensions or improvements to the System during the period of three (3) years
following the completion of such additions, extensions or improvements financed with
the proceeds of Bonds or Additional Parity Obligations, then the Net Revenues certified
pursuant to paragraph 1(b) above shall be increased by fifty percent (50%) of the
average annual additional Net Revenues calculated for such three year period.
(6) The City need not comply with the provisions of paragraph 1 above
if and to the extent the Bonds to be issued are refunding bonds, and if the City shall
cause to be delivered a certificate of the Finance Director setting forth the Bond Service
Requirements (i) for the Bonds then Outstanding and (ii) for all Series of Bonds to be
immediately Outstanding thereafter and stating that the Bond Service Requirements
in any particular year pursuant to (ii) above is not greater than the Bond Service
Requirements in the corresponding year set forth pursuant to (i) above.
(7) The City need not comply with the provisions of paragraph 1 above
if and to the extent the Bonds to be issued are for the purpose of providing any
necessary additional funds required for completion of any improvements to the System
("Completion Bonds") if originally financed with the proceeds of Bonds; provided that
such Completion Bonds for which the City need not comply with the provision of such
13
paragraph (1) above may not exceed 10% of the total principal amount of Bonds
estimated to be required for such improvements to the System at the time of issuance
of the initial Series of Bonds to finance such improvements.
(8) The City shall not be in default in the carrying out of any of the
obligations assumed under this Ordinance and no event of default shall have occurred
under this Ordinance and shall be continuing, and all payments required by this
Ordinance to be made into the funds and accounts established hereunder shall have
been made to the full extent required.
(9) The ordinance or resolution authorizing the issuance of the
Additional Parity Obligations shall recite that all of the covenants contained herein
will be applicable to such Additional Parity Obligations.
See Appendix C, "Conformed Copy of Amended Ordinance."
Series 2004 Bonds Not a Debt of the City
The Series 2004 Bonds shall not constitute a general obligation or indebtedness
of the City within the meaning of any constitutional, statutory or charter provision or
limitation, and no Bondholder shall ever have the right to compel the exercise ofthe ad
valorem taxing power of the City or taxation in any form of real or personal property
therein for the payment of the principal of and interest on the Series 2004 Bonds or to
compel the City to pay such principal and interest from any other funds of the City
except the Pledged Revenues. The Series 2004 Bonds shall not constitute a lien upon
any property of or in the City, but shall constitute a lien only on the Pledged Revenues
all in the manner provided in the Ordinance.
Outstanding Parity Obligations
The City has previously issued $7,500,000 of its Stormwater System Revenue
Bonds, Series, 1999 (the "Series 1999 Bonds"), which are currently Outstanding in the
aggregate principal amount of $7,020,000 and $24,685,000 of its Stormwater System
Revenue Bonds, Series 2002 (the "Series 2002 Bonds"), which are currently
Outstanding in the aggregate principal amount of $24,245,000, both of which Series
rank on a parity with the Series 2004 Bonds as to the pledge of the Net Revenues. As
set forth under the caption "THE SERIES 2004 PROJECTS," it is anticipated that the
14
City will issue Additional Parity Obligations in 2006, 2008, 2010, 2012 and 2014 to
fund additional capital improvements to the stormwater system.
MUNICIPAL BOND INSURANCE
Payment Pursuant to Financial Guaranty Insurance Policy
Ambac Assurance has made a commitment to issue a financial guaranty insurance
policy (the "Financial Guaranty Insurance Policy") relating to the Series 2004 Bonds
effective as of the date of issuance of the Series 2004 Bonds. Under the terms of the
Financial Guaranty Insurance Policy, Ambac Assurance will pay to The Bank of New
York, in New York, New York or any successor thereto (the "Insurance Trustee") that
portion of the principal of and interest on the Series 2004 Bonds which shall become Due
for Payment but shall be unpaid by reason of Nonpayment by the Obligor (as such terms
are defined in the Financial Guaranty Insurance Policy). Ambac Assurance will make
such payments to the Insurance Trustee on the later of the date on which such principal
and interest becomes Due for Payment or within one business day following the date on
which Ambac Assurance shall have received notice of Nonpayment from the
Trustee/Paying Agent/Bond Registrar. The insurance will extend for the term of the
Series 2004 Bonds and, once issued, cannot be canceled by Ambac Assurance.
The Financial Guaranty Insurance Policy will insure payment only on stated
maturity dates and on mandatory sinking fund installment dates, in the case of principal,
and on stated dates for payment, in the case of interest. If the Series 2004 Bonds became
subject to mandatory redemption and insufficient funds are available for redemption of all
outstanding Series 2004 Bonds, Ambac Assurance will remain obligated to pay principal
of and interest on outstanding Series 2004 Bonds on the originally scheduled interest and
principal payment dates including mandatory sinking fund redemption dates. In the
event of any acceleration of the principal of the Series 2004 Bonds, the insured payments
will be made at such times and in such amounts as would have been made had there not
been an acceleration.
In the event the Paying Agent has notice that any payment of principal of or
interest on a Series 2004 Bond which has become Due for Payment and which is made to
a Holder by or on behalf of the Obligor has been deemed a preferential transfer and
theretofore recovered from its registered owner pursuant to the United States Bankruptcy
Code in accordance with a final, nonappealable order of a court of competent jurisdiction,
such registered owner will be entitled to payment from Ambac Assurance to the extent of
such recovery if sufficient funds are not otherwise available.
The Financial Guaranty Insurance Policy does not insure any risk other than
15
Nonpayment, as defined in the Policy. Specifically, the Financial Guaranty Insurance
Policy does not cover:
1. payment on acceleration, as a result of a call for redemption (other than
mandatory sinking fund redemption) or as a result of any other advancement of
maturity.
2. payment of any redemption, prepayment or acceleration premium.
3. nonpayment ofprincipal or interest caused by the insolvency or negligence of
any Trustee, Paying Agent or Bond Registrar, if any.
If it becomes necessary to call upon the Financial Guaranty Insurance Policy,
payment of principal requires surrender of Series 2004 Bonds to the Insurance Trustee
together with an appropriate instrument of assignment so as to permit ownership of such
Series 2004 Bonds to be registered in the name of Ambac Assurance to the extent of the
payment under the Financial Guaranty Insurance Policy. Payment of interest pursuant to
the Financial Guaranty Insurance Policy requires proof of Holder entitlement to interest
payments and an appropriate assignment of the Holder's right to payment to Ambac
Assurance.
Upon payment of the insurance benefits, Ambac Assurance will become the owner
of the Series 2004 Bond, appurtenant coupon, if any, or right to payment of principal or
interest on such Series 2004 Bond and will be fully subrogated to the surrendering
Holder's rights to payment.
The insurance provided by the Financial Guaranty Insurance Policy is not covered
by the Florida Insurance Guaranty Association.
Ambac Assurance Corporation
Ambac Assurance Corporation ("Ambac Assurance") is a Wisconsin-domiciled
stock insurance corporation regulated by the Office ofthe Commissioner ofInsurance
of the State of Wisconsin and licensed to do business in 50 states, the District of
Columbia, the Territory of Guam, the Commonwealth of Puerto Rico and the U.S.
Virgin Islands, with admitted assets of approximately $7,670,000,000 (unaudited) and
statutory capital of approximately $4,683,000,000 (unaudited) as of March 31, 2004.
Statutory capital consists of Ambac Assurance's policyholders' surplus and statutory
contingency reserve. Standard & Poor's Credit Markets Services, a Division of The
McGraw-Hill Companies, Moody's Investors Service and Fitch Ratings have each
assigned a triple-A financial strength rating to Ambac Assurance.
Ambac Assurance has obtained a ruling from the Internal Revenue Service to the
16
effect that the insuring of an [obligation] by Ambac Assurance will not affect the
treatment for federal income tax purposes of interest on such [obligation] and that
insurance proceeds representing maturing interest paid by Ambac Assurance under policy
provisions substantially identical to those contained in its financial guaranty insurance
policy shall be treated for federal income tax purposes in the same manner as if such
payments were made by the Obligor of the Series 2004 Bonds.
Ambac Assurance makes no representation regarding the Series 2004 Bonds or the
advisability of investing in the Series 2004 Bonds and makes no representation regarding,
nor has it participated in the preparation of, the Official Statement other than the
information supplied by Ambac Assurance and presented under this caption
"MUNICIPAL BOND INSURANCE."
Available Information
The parent company of Ambac Assurance, Ambac Financial Group, Inc. (the
"Company"), is subject to the informational requirements of the Securities Exchange Act
of 1934, as amended (the "Exchange Act"), and in accordance therewith files reports,
proxy statements and other information with the Securities and Exchange Commission
(the "SEC"). These reports, proxy statements and other information can be read and
copied at the SEC's public reference room at 450 Fifth Street, N.W., Washington, D.C.
20549. Please call the SEC at 1-800-SEC-0330 for further information on the public
reference room. The SEC maintains an internet site at http://www.sec.govthat contains
reports, proxy and information statements and other information regarding companies
that file electronically with the SEC, including the Company. These reports, proxy
statements and other information can also be read at the offices of the New York Stock
Exchange, Inc. (the "NYSE"), 20 Broad Street, New York, New York 10005.
Copies of Ambac Assurance's financial statements prepared in accordance with
statutory accounting standards are available from Ambac Assurance. The address of
Ambac Assurance's administrative offices and its telephone number are One State
Street Plaza, 19th Floor, New York, New York 10004 and (212) 668-0340.
Incorporation of Certain Documents by Reference
The following documents filed by the Company with the SEC (File No. 1-10777) are
incorporated by reference in this Official Statement:
1. The Company's Annual Report on Form lO-K for the fiscal year ended December
31,2003 and filed on March 15, 2004;
17
2. The Company's Current Report on Form 8-K dated April 21, 2004 and filed on
April 22, 2004; and
3. The Company's Quarterly Report on Form 10-Q for the fiscal quarterly period
ended March 31,2004 and filed on May 10,2004.
All documents subsequently filed by the Company pursuant to the requirements of
the Exchange Act after the date ofthis Official Statement will be available for inspection
in the same manner as described above in "Available Information".
18
Fiscal
Year
Endine:
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
DEBT SERVICE REQUIREMENTS
Parity
Bonds
Debt
Service
2,014,698.76
2,001,325.01
1,996,773.76
1,996,485.01
1,995,332.51
1,993,303.76
1,999,888.13
1,999,294.38
2,001,553.76
2,006,731.26
2,004,666.26
2,009,842.51
2,007,451.89
2,012,576.89
2,019,536.26
2,018,392.51
2,019,405.01
2,027,136.26
2,026,045.63
2,030,788.75
2,031,616.25
2,034,071.25
2,033,011.25
2,043,056.25
2,043,945.00
2,050,558.75
2,052,537.50
1,554,562.50
1,562,231.25
1.566.337.50
59,153,155.81
Series
2004
Bonds
Principal
Series
2004
Bonds
Interest
19
Series
2004
Bonds
Total
SOURCES AND USES OF FUNDS
SOURCES OF FUNDS
Par Amount of Bonds
Accrued Interest
Less: Net Original Issue Discount
Less: Underwriter's Discount
TOTAL SOURCES
USES OF FUNDS
Deposit to Debt Service Fund
Deposit to Debt Service Reserve
Fund
Costs of Issuance (1)
Deposit to Project Construction Fund
TOTAL USES
(1) Includes costs of issuance and financial guaranty insurance premium.
20
THE STORMWATER MANAGEMENT SYSTEM
Physical Description
The City of Clearwater was created in 1923 by Chapter 9710, Special Laws of
Florida, with all governmental, corporate and proprietary powers to enable it to
conduct municipal government, perform municipal functions and render municipal
services, and to exercise any power for municipal purposes except where expressly
prohibited by law. A major municipal function ofthe City of Clearwater is the efficient,
economic, and safe operation of the City stormwater infrastructure for the health,
safety, and general welfare of the public. The management of stormwater in the City
was established in 1991 as a city utility enterprise in accordance with Florida Statutes
and funded by a stormwater utility fee for stormwater management service, levied
against all developed property within the City to provide planning, design,
construction, operation, maintenance, regulation, surveying, and inspection of the
stormwater management facilities within the City. Those services provide system
management for approximately 120 miles of storm sewers, 9 square miles of open
water, and more than 14,400 structures (e.g. culverts, flumes, weirs, catch basins, etc.)
to manage drainage for the City, having a population of approximately 108,000
permanent residents and 20,000 winter residents.
Management
The City has a Council-Manager form of municipal government. The Mayor-
Councilmember and Councilmembers are elected by the City voters on an at-large
basis. All have voting power at Council meetings which are chaired by the Mayor-
Councilmember. The City Council appoints the City Manager and the City Manager is
responsible for appointing all officers and employees in the administrative service of
the City, including the Public Works Administrator.
Public Works Administration is administered by the Public Works Administrator
who reports to the City Manager through the Assistant City Manager. The stormwater
system is one of seven utilities (Water, Sewer, Reclaimed Water, Gas, Solid Waste,
Recycling, and Stormwater) billed on a consolidated basis by the Clearwater Utility
Customer Service Department.
Mahshid D. Arasteh, P.E. serves as the Public Works Administrator. She
received her Bachelor of Science Degree in Civil and Urban Engineering from the
University of Pennsylvania in 1980 and her Masters of Science Degree in Civil and
Urban Engineering, Mechanical Engineering and Applied Mechanics in 1982. She is a
21
member ofthe Florida Engineering Society and the Institute of Traffic Engineers, and
has been a registered Professional Engineer in the state of Florida since 1987.
Michael D. Quillen, P.E. serves as the Director ofthe Engineering Department
and reports to the Public Works Administrator. He received his Bachelor of Science
Degree in Civil Engineering from Purdue University in 1977. He is a member of the
Florida Engineering Society and has been a registered Professional Engineer in the
state of Florida since 1983.
Gary A. Johnson, C.G.C., serves as the Public Service Director. He received his
Bachelor of Building Construction degree in 1977 from the University of Florida and in
1979, obtained his General Contractor License from the State of Florida. He continues
to serve on the Pinellas County Public Works Academy Board of Trustees, a position he
has held since 1989.
Rates, Fees and Charges
The City uses a measurement of one equivalent residential unit or ERU as the
basis for the stormwater management utility fee. The rate per ERU was unchanged
from the inception ofthe utility on January 1,1991 until 1998 when annual increases
were adopted for five fiscal years beginning October 1, 1998. In November, 2001,
additional increases were adopted including a change to the increase previously
adopted to be effective on October 1, 2002. The monthly rates at inception and as
adopted in 1998, 2001 and 2004 and are:
22
Effective Date
Rate Per
ERU
January 1, 1991 $3.00
October 1, 1998 4.00
October 1, 1999 4.17
October 1, 2000 4.35
October 1, 2001 4.54
January 1, 2002 6.13
October 1, 2002 7.16
October 1, 2003 8.01
October 1, 2004 8.65
October 1, 2005 9.35
October 1, 2006 9.63
October 1, 2007 9.92
October 1, 2008 10.22
Single-family homes, multifamily units, condominium units, apartments and
mobile homes are rated as one ERU per dwelling unit. Nonresidential property is
charged at the rate of 1,830 square feet of impervious area per ERU.
23
Historical Net Revenues
2000 2001 2002 2003
Gross Revenues $4,938,338 $5,323,293 $6,846,086 $8,660,373
Expenses 3.183.260 3.608,281 3,957.577 4.727.187
Net Revenues
Available for
Debt Service $1,755,078 $1,715,012 $2,888,509 $3,933,186
Projected
Maximum
Annual Debt
Service (1) $2,960,000 $2,960,000 $2,960,000 $2,960,000
(1) Actual debt service on the Series 1999 Bonds and Series 2002 Bonds and
assumes 28 year level debt service amortization with apar amount of$14,350,000* and a
true interest cost of 4.84% for the Series 2004 Bonds.
Note: The periods shown are periods during which Bonds have been Outstanding.
With little undeveloped property in the City and no rate increase from the Utility's
inception in 1991 until 1999, revenues remained flat while expenses such as personnel
services, professional fees, interfund charges and repairs and maintenance have
increased significantly. Rate increases of 33.3% for 1999 and 4.3% for each subsequent
year through 2003 were approved in August, 1998. In November, 2001, to fund
significant increases in the storm water system capital improvement program, rate
increases to $6.13 effective January 1, 2002, to $7.16, effective October 1, 2002, to $8.01,
effective October 1, 2003, to $8.65, effective October 1, 2004 and to $9.35, effective
October 1, 2005 were approved. To provide funding to continue the capital improvement
program and provide for increased maintenance and asset management, rates were
increased in August, 2004, by 3% per year to $9.63, effective October 1, 2006, $9.92,
effective October 1, 2007 and $10.22, effective October 1,2008.
FINANCIAL STATEMENTS
The combined financial statements and Stormwater enterprise fund financial
statements of the City at September 30, 2003 and for the Fiscal Year then ended,
appended hereto as Appendix E, have been excerpted from the financial statements
contained in the City's Comprehensive Annual Financial Reports for the Fiscal Year
ending September 30, 2003.
24
INVESTMENT POLICY OF THE CITY
Pursuant to the requirements of Section 218.45, Florida Statutes, the City
adopted a written investment policy which applies to all funds held by or for the benefit
of the City Council (except for proceeds of bond issues which are deposited in escrow
and debt service funds and governed by their bond documents) and funds of
Constitutional Officers and other component units of the City.
The objectives of the investment policy, listed in order in order of importance,
are:
1. Safety of principal
2. Provision of sufficient liquidity
3. Optimization of return within the constraints of safety and liquidity
The investment policy limits the securities eligible for inclusion in the City's
portfolio. The City will attempt to maintain a weighted average maturity of its
investments at or below three years; however, the average maturity of investments
may not exceed four years.
To enhance safety, the investment policy requires the diversification of the
portfolio to reduce the risk of loss resulting from over-concentration of assets in a
specific class of security. The investment policy also requires the preparation of
periodic reports for the City Council of all outstanding securities by class or type, book
value, income earned and market value as of the report date.
Notwithstanding the foregoing, moneys held in the funds and accounts
established under the Ordinance may be invested only in Permitted Investments, as
described in the Ordinance.
LEGALITY FOR INVESTMENT
The Series 2004 Bonds constitute legal investments in the State of Florida for
state, county, municipal and all other public funds and for banks, savings banks,
insurance companies, executors, administrators, trustees and all other fiduciaries, and
also constitute securities eligible as collateral security for all state, county, municipal
and other public funds.
25
TAX EXEMPTION
Federal Income Tax Matters
The Internal Revenue Code of 1986, as amended (the "Code") establishes certain
requirements which must be met subsequent to the issuance and delivery of the Bonds
in order that interest on the Bonds be and remain excluded from gross income for
purposes of federal income taxation. Non-compliance may cause interest on the Bonds
to be included in federal gross income retroactive to the date of issuance of the Bonds
regardless of the date on which such non-compliance occurs or is ascertained. These
requirements include, but are not limited to, provisions which prescribe yield and other
limits within which the proceeds of the Bonds and the other amounts are to be invested
and require that certain investment earnings on the foregoing must be rebated on a
periodic basis to the Treasury Department of the United States. The County has
covenanted in the Resolution to comply with such requirements in order to maintain
the exclusion from federal gross income of the interest on the Bonds.
In the opinion of Bond Counsel, assuming compliance with the aforementioned
covenants, under existing laws, regulations, judicial decisions and rulings, interest on
the Bonds is excluded from gross income of the holders thereof for purposes of federal
income taxation. Interest on the Bonds is not an item of tax preference for purposes of
the federal alternative minimum tax imposed on individuals or corporations; however,
interest on the Bonds may be subject to the alternative minimum tax when any Bond is
held by a corporation. The alternative minimum taxable income of a corporation must
be increased by 75% ofthe excess of such corporation's adjusted current earnings over
its alternative minimum taxable income (before this adjustment and the alternative
tax net operating loss deduction). "Adjusted Current Earnings" will include interest on
the Bonds.
Except as described above, Bond Counsel will express no opinion regarding the
federal income tax consequences resulting from the ownership of, receipt or accrual of
interest on, or disposition of Bonds. Prospective purchasers of Bonds should be aware
that the ownership of Bonds may result in collateral federal income tax consequences,
including (i) the denial of a deduction for interest on indebtedness incurred or
continued to purchase or carry Bonds, (ii) the reduction of the loss reserve deduction
for property and casualty insurance companies by 15% of certain items, including
interest on the Bonds, (iii) the inclusion of interest on the Bonds in earnings of certain
foreign corporations doing business in the United States for purposes of a branch
profits tax, (iv) the inclusion of interest on Bonds in passive income subject to federal
income taxation of certain S corporations with Subchapter C earnings and profits at
the close ofthe taxable year, and (v) the inclusion of interest on the Bonds in "modified
adjusted gross income" by recipients of certain Social Security and Railroad Retirement
26
benefits for purposes of determining whether such benefits are included in gross
income for federal income tax purposes.
PURCHASE, OWNERSHIP, SALE OR DISPOSITION OF THE BONDS AND
THE RECEIPT OR ACCRUAL OF THE INTEREST THEREON MAY HAVE
ADVERSE FEDERAL TAX CONSEQUENCES FOR CERTAIN INDIVIDUAL AND
CORPORATE REGISTERED OWNERS. PROSPECTIVE REGISTERED OWNERS
SHOULD CONSULT WITH THEIR TAX SPECIALISTS FOR INFORMATION IN
THAT REGARD.
During recent years legislative proposals have been introduced in Congress, and
in some cases enacted that altered certain federal tax consequences resulting from the
ownership of obligations that are similar to the Bonds. In some cases these proposals
have contained provisions that altered these consequences on a retroactive basis. Such
alteration of federal tax consequences may have affected the market value of
obligations similar to the Bonds. From time to time, legislative proposals are pending
which could have an effect on both the federal tax consequences resulting from
ownership of Bonds and their market value. No assurance can be given that legislative
proposals will not be introduced or enacted that would or might apply to, or have an
adverse effect upon, the Bonds.
Florida Tax Matters
On the date of delivery of the Bonds, Bond Counsel will issue an opinion to the
effect that under existing statutes, regulations and judicial decisions, the Bonds and
the income therefrom are exempt from taxation under the laws ofthe State of Florida,
except as to Florida estate taxes imposed by Chapter 198, Florida Statutes, as
amended, and net income and franchise taxes imposed by Chapter 220, Florida
Statutes, as amended.
RATINGS
Moody's Investors Service, Inc. ("Moody's"), Standard & Poor's, a division of The
McGraw-Hill Companies, Inc. ("S&P") and Fitch IBCA, Inc. ("Fitch") would be expected
to issue their ratings of "Aaa," "AAA" and "AAA," respectively, with respect to the
Series 2004 Bonds, based on the issuance of the Policy by AMBAC. In addition,
Moody's, S&P and Fitch have assigned underlying ratings to the Series 2004 Bonds of
"A3," "A" and "A," respectively, without regard to the Policy. The ratings reflect the
view of Moody's, S&P and Fitch and any explanation of the significance of such ratings
may be obtained only from Moody's, S&P and Fitch. There is no assurance that such
ratings will remain in effect for any given period of time or that such ratings may not
be lowered or withdrawn entirely by the rating agencies, if in their opinion or
27
judgment, circumstances so warrant. Any downward revision or withdrawal of the
ratings may have an adverse effect on the market price and marketability ofthe Series
2004 Bonds.
LITIGATION
Except as described below, in the opinion of the City Attorney there is no
litigation now pending or threatened (i) to restrain or enjoin the issuance or sale of the
Series 2004 Bonds or (ii) questioning or affecting the validity of the Series 2004 Bonds,
the Ordinance or the pledge of the Net Revenues by the City or the proceedings for the
authorization, sale, execution or delivery of the Series 2004 Bonds.
The City is involved in certain litigation and disputes incidental to its
operations. Upon the basis of information presently available, the City Attorney
believes that there are substantial defenses to such litigation and disputes and that, in
any event, any ultimate liability, in excess of applicable insurance coverage, resulting
therefrom will not materially adversely affect the financial position or results of
operations of the City.
The Pinellas County School Board and St. Petersburg College, as the only public
educational institutions in the City, filed suit against the City in the Circuit Court of
Pinellas County seeking a declaration that, as public educational institutions, they are
statutorily exempted from payment ofthe storm water utility fees. The City settled the
litigation with St. Petersburg College by paying $100,000 and agreeing not to assess
the stormwater fees against it until there is a final appellate court opinion or Florida
Supreme Court opinion determining that the fees are a utility user fee.
The City has not collected stormwater utility fees from the Pinellas County
School Board for over three years; however, the School Board has demanded refunds of
Stormwater utility fees paid prior to that time. The Circuit Court of Pinellas County
found in favor of the Pinellas County School Board and was awarded a judgment in the
amount of $343,663.49. The City intends to appeal the judgment. Any damages
ultimately awarded would be payable from Net Revenues and it is not possible at this
time to predict the exact amount of such potential damages; however, the City is of the
opinion that the payment of any such damages would not have a material adverse
effect on the operation ofthe System or the payment of Debt Service on the Series 2004
Bonds. The issues raised in the suit do not pose a general challenge to the validity of
the stormwater utility fees or the collection thereof, which issues were validated as
described below, but only challenge the applicability of such fees under certain
circumstances to plaintiffs as public educational institutions.
28
ADVISORS AND CONSULTANTS
The City has retained advisors and consultants in connection with the issuance
of the Series 2004 Bonds. These advisors and consultants are compensated from a
portion of the proceeds of the Series 2004 Bonds, identified as "Costs of Issuance"
under the heading "ESTIMATED SOURCES AND USES OF FUNDS" herein; and such
compensation, is, in some instances, contingent upon the issuance of the Bonds and the
receipt of the proceeds thereof.
Financial Advisor. The City has retained RBC Dain Rauscher Inc., St.
Petersburg, Florida (the "Financial Advisor"), as the City's financial advisor. The fees
of the Financial Advisor will be paid from proceeds of the Series 2004 Bonds and such
payment is contingent upon the issuance of the Series 2004 Bonds.
Bond Counsel. Bryant Miller & Olive, P.A., Tallahassee, Florida represents
the City as Bond Counsel. The fees of Bond Counsel will be paid from proceeds of the
Series 2004 Bonds, and such payment is contingent upon the issuance of the Series
2004 Bonds.
Disclosure Counsel. Nabors, Giblin & Nickerson, P.A., Tampa, Florida
represents the City as Disclosure Counsel. The fees of Disclosure Counsel will be paid
from proceeds of the Series 2004 Bonds, and such payment is contingent upon the
issuance of the Series 2004 Bonds.
29
CONTINUING DISCLOSURE
The City has covenanted for the benefit of the holders and beneficial owners of
the Series 2004 Bonds to provide certain financial information and operating data
relating to the City by not later than June 30 in each year commencing June 30,2005
(the "Annual Report"), and to provide notices ofthe occurrence of certain enumerated
events, if deemed by the City to be material. The Annual Report will be filed by the
City with each Nationally Recognized Municipal Securities Information Repository
("NRMSIR"), and with the State of Florida Repository, if and when created. The
notices of material events will be filed by the City with the NRMSIR and with the State
of Florida Repository, if and when created. The form of Continuing Disclosure
Certificate containing the specific nature of the information to be contained in the
Annual Report or the notices of material events appears in "APPENDIX D - FORM OF
CONTINUING DISCLOSURE CERTIFICATE." These covenants have been made in
order to assist the Underwriter in complying with S.E.C. Rule 15c2-12(b)(5). The City
has never failed to comply in all material respects with any previous undertakings with
regard to said Rule to provide annual reports or notices of material events.
ENFORCEABILITY OF REMEDIES
The remedies available to the registered owners of the Series 2004 Bonds upon
an event of default under the Ordinance are in many respects dependent upon judicial
actions which are often subject to discretion and delay. Under existing constitutional
and statutory law and judicial decisions, including specifically Title II of the United
States Code, the remedies specified by the federal bankruptcy code, the Ordinance and
the Series 2004 Bonds may not be readily available or may be limited. The various
legal opinions to be delivered concurrently with the delivery of the Series 2004 Bonds
(including Bond Counsel's approving opinion) will be qualified, as to the enforceability
ofthe various legal instruments, by limitations imposed by bankruptcy, reorganization,
insolvency or other similar laws affecting the rights of creditors enacted before or after
such delivery.
30
CERTAIN LEGAL MATTERS
Certain legal matters in connection with the issuance of the Series 2004 Bonds
are subject to the approval of Bryant Miller & Olive, P.A., Tallahassee, Florida, Bond
Counsel, whose approving opinion will be available at the time of delivery of the Series
2004 Bonds and will be printed on such Bonds. The proposed form of Bond Counsel
opinion is attached hereto as Appendix E and reference is made to such form of opinion
for the complete text thereof. Certain legal matters will be passed upon for the City by
Pamela K. Akin, Esquire, City Attorney and by Nabors, Giblin & Nickerson, P.A.,
Tampa, Florida, disclosure counsel to the City.
DISCLOSURE REQUIRED BY FLORIDA BLUE SKY REGULATIONS
Section 517.051, Florida Statutes, and the regulations promulgated thereunder
(the "Disclosure Act") require that the City make a full and fair disclosure of any bonds
or other debt obligations that it has issued or guaranteed and that are or have been in
default as to principal or interest at any time after December 31, 1975 (including bonds
or other debt obligations for which it has served only as a conduit issuer such as
industrial development or private activity bonds issued on behalf of private
businesses). The City is not, and has not since December 31, 1975, been in default as
to principal and interest on bonds or other debt obligations for which ad valorem or
non-ad valorem revenues of the City are pledged.
The City hereby makes the following disclosure regarding a default on an issue
of industrial development bonds not related to any direct indebtedness ofthe City, as it
is aware of a prior default in 1990 with respect to an issue of industrial revenue bonds
for which the City served only as a conduit issuer. The City was not liable to pay the
principal of or interest on such bonds except from payments made to it by the private
company on whose behalf such bonds were issued and no funds of the City were used to
pay such bonds or the interest thereon. Although the City is not aware of any other
defaults with respect to bonds or other debt obligations as to which it has served only
as a conduit issuer, it has not undertaken an independent review or investigation of
such bonds or other debt obligations.
31
FINANCIAL ADVISOR
The Financial Advisor for the City is RBC Dain Rauscher Inc., with offices
located at 100 Second Avenue South, Suite 800, St. Petersburg, Florida 33701-4386.
MISCELLANEOUS
The references, excerpts and summaries of all documents referred to herein do
not purport to be complete statements of the provisions of such documents, and
reference is directed to all such documents for full and complete statements of all
matters of fact relating to the Series 2004 Bonds, the security for the payment of the
Series 2004 Bonds, and the rights and obligations of holders thereof.
The information contained in this Official Statement involving matters of
opinion or of estimates, whether or not so expressly stated, are set forth as such and
not as representations offact, and no representation is made that any of the estimates
will be realized. Neither this Official Statement nor any statement which may have
been made verbally or in writing is to be construed as a contract with the holders ofthe
Series 2004 Bonds.
The execution and delivery of this Official Statement by its Mayor and its City
Manager has been duly authorized by the City Council.
CITY OF CLEARWATER, FLORIDA
Brian J. Aungst, Sr., Mayor
William B. Horne, II, City Manager
32
APPENDIX A
GENERAL DESCRIPTION OF THE CITY AND SELECTED
STATISTICS
APPENDIX A
GENERAL INFORMATION
RELATING TO THE CITY OF CLEARWATER, FLORIDA
Location
The City of Clearwater (the "City"), the county seat of Pinellas County (the fifth
most populous county in Florida), is geographically located in the middle of the west
coast of Florida on the Gulf of Mexico. It is situated approximately 22 miles west of
Tampa and 16 miles north of St. Petersburg. Standing on the highest coastal elevation of
the State, the City limits comprise approximately 26.66 square miles of land and 8.61
square miles of waterways and lakes.
Clearwater Beach, a corporate part ofthe City, is a beach community connected to
the mainland by Memorial Causeway, a four-lane, toll-free drive stretching almost two
miles across the Intracoastal Waterway. Business on Clearwater Beach is mainly tourist
oriented, with hotels, motels and gift shops. Many fine homes, apartments and
condominiums offer pleasant, semi-tropical island accommodations to permanent
residents and winter and summer visitors.
History
The area now known as Clearwater was first explored in 1528 by Panfile de
Narvaez, a Spanish explorer who encountered a large tribe of Indians, which his army
drove out. The Indians recaptured their territory and held it until the Seminole Wars of
1835-42. The Indians who inhabited this area are said to have called it "Pocotopaug,"
meaning "clear water," for the many springs of clear, fresh water that bubbled along the
shore and even below the waterline at low tide.
Settlers began moving into the area around the time of the Seminole Wars. After
the wars ended, the territory was opened by the Federal government for homesteading
under the Armed Occupation Act. The first land title was granted in 1842. The early
settlement, named "Clear Water Harbor," was incorporated in 1897. "Clear Water" later
became one word and "Harbor" was dropped in 1906 when Pinellas County was created
by an act of the State Legislature. In May 1911, Clearwater became the County Seat and
Clearwater was chartered as a municipality on May 27, 1915.
Government and Administration
Clearwater has a council-city manager form of government. Four council members
and a mayor are elected at large to serve overlapping three-year terms. They appoint the
A-I
city manager and the city attorney. All other administrative and professional positions are
appointed by the city manager in accordance with the City's Civil Service System.
The City has approximately 1,851 employees, covered by the City's Civil Service
law relating to recruitment, promotion, evaluation and discipline based on merit
principles. Four employee unions represent the City's civil labor force: two units of the
Fraternal Order of Police; two of the International Association of Fire Fighters; and one
from the Communications Workers of America.
Transportation
Pinellas County and Clearwater are served by three major causeways and bridges
over Tampa Bay, by U.S. 19 and 1-275 to the north and south, by 1-4 and U.S. 60 to the
east. State Roads 590 and 686 also afford access to the City.
Tampa International Airport, located approximately seventeen miles from
downtown Clearwater, provides air travel access with approximately 260 national and
international flights daily. Limousine and taxi service to and from the airport is available
from Clearwater and throughout Pinellas County. St. Petersburg/Clearwater International
Airport, approximately ten miles from downtown Clearwater, offers regularly scheduled
passenger service and charter and special group flights, on a more limited basis to both
domestic and foreign destinations, particularly to Canada, Mexico, and Central and South
America. The Executive Airpark, which is slightly over a mile from the downtown
business section, provides service and maintenance for private plane owners. The airport
has one 3,000 foot hard-surface runway and facilities for visiting and locally based
planes.
The Port of Tampa (22 miles to the east) is the closest deep water port. The port is
serviced by a variety of steamship agents and operators. The United States Coast Guard
maintains an air station at the St. Petersburg/Clearwater International Airport, and a
search and sea rescue cutter station on Clearwater Harbor opposite Sand Key.
Gulf Coast Motor Lines provides service daily between Clearwater, St. Petersburg
and Tampa and makes connections with Greyhound and Trailways Bus Lines in Tampa.
Scenic tours are available via Gray Line out of Clearwater and St. Petersburg, and both
Gray Line and Gulf Coast have buses for charter. Pinellas Suncoast Transit System
maintains 54 routes in 19 municipalities in Pinellas County.
Utilities, Public Service and Community Facilities
The City owns and operates its own water and wastewater collection systems.
Water is obtained from 17 deep wells owned and operated by the City (approximately 20-
25%) and from wholesale purchases from the Pine lias County Water System
A-2
(approximately 75-80%). Total daily average is approximately 29 million gallons per
day. The wastewater collection program provides for the transmission of wastewater
through the City's underground sewer mains, collectors and interceptor lines and for the
maintenance, repair and replacement of 363 miles of sanitary sewer lines. The
Department of Public Works maintains 304 miles of paved streets, 10.5 miles of unpaved
streets, approximately 147 miles of storm sewer mains, and approximately 559 miles of
water mains.
Electric power is provided by Progress Energy and telephone service is provided
by Verizon of Florida, Inc. Bright House Networks and Knology provide cable television
service under franchises with the City. Local editions of the daily St. Petersburg Times
and The Tampa Tribune, plus weekly newspapers from adjacent Dunedin, Largo,
Seminole and Clearwater Beach are widely distributed.
The Clearwater Public Library System consists of a main library and four branches
which are spread evenly throughout the community for easy access. The City offers over
42 acres of public beach front, 1,130 acres of parks, 31 playgrounds, numerous athletic
courts and fields, five swimming pools, a 6,917 seat baseball and softball stadium, golf
course, civic and recreational centers, 7.4 miles of recreational paths, boat ramps and a
209 slip yacht basin and marina. The Philadelphia Phillies conduct spring training at the
municipal baseball stadium and have a long-term contract for farm club training on
Clearwater's specially constructed facilities during the Winter Instructional League
Program. Clearwater is the home of the Clearwater Bombers, a national amateur fastpitch
softball team.
Tourism
The State of Florida reported 75.6 million tourists came to Florida during the year
2003, exceeding the previous record set in 2002 by nearly 2.5%. The estimated number
of domestic visitors to the State in 2003 totaled 69.6 million, an increase of 2.5% over
2002, while the number of Canadian visitors surged nearly 6% to just under 1.7 million
for the year. The lone decrease was a slight drop in the number of overseas visitors to
Florida, which was 1.1 percent to 4.4 million. Tourism is a $5.2 billion industry annually
to the County. Pinellas County is ranked seventh of the top ten destinations in Florida and
generated approximately 5 million overnight guests and 7.5 million day visitors in 2003.
Clearwater's Fun 'N Sun Festival each spring attracts thousands of visitors.
Education
The Pine lIas County School District is the seventh largest in the State and operates
a total of 144 schools comprising elementary through high school, exceptional,
alternative and vocational schools within the County and serves more than 113,000
A-3
students. During the 2003-2004 school year, Pinellas County Schools expects enrollment
of more than 16,295 compared to 17,047 during the 2002-2003 school year with students
attending 82 elementary, 24 middle and 16 high schools along with five exceptional
education centers, four alternative schools, four partnership schools and three charter
schools. The district also operates three community schools, three adult
education/learning centers, two technical education centers and one secondary vocational
center. Private schools and academies are also located within or near the City limits. In
addition, St. Petersburg College has a Clearwater campus. Eckerd College in
St. Petersburg, Beacon College in Largo, Stetson University College of Law in Gulfport,
the University of South Florida and the University of Tampa in Tampa offer nearby
college and post-graduate education.
Industry, Commerce and Labor
Light, clean industry is encouraged in Clearwater. In 1957, the City of Clearwater
developed a 100 acre industrial park adjacent to the Clearwater Airpark (Executive
Airport) and to the CSX Transportation Company. There is also a privately owned, 35
acre industrial park. Large industries located near Clearwater include Honeywell, General
Electric, UNISYS, Concept and Hercules Defense Electronics Systems, Inc. During the
1999 fiscal year IMRglobal Corp. ("IMR") occupied its new world headquarters in
downtown Clearwater.
Pension Plan
The Employees' Pension Plan and the Fireman's Pension Plan are self-
administered by the City. City contributions for fiscal year ending 2003 were $4,649,642
to the Employees' Plan and $1,211,210 to the Fireman's Plan, and were in accordance
with actuarially determined funding requirements.
In addition, supplemental pensions exist for certified Police Officers and
Firefighters, funded solely from excise taxes on certain insurance premiums covering
property in Clearwater, collected by the State and remitted to the City. Both plans require
benefits to be adjusted to equal funds assets provided by the defined contributions.
[Remainder of page intentionally left blank]
A-4
Demographic Information
Last Ten Fiscal Years
(a) (b) (c) (d) (e)
Permanent Per Capita Median School Unemployment
Year Population Income Age Enrollment Rate (%)
1994 100,604 22,148 42.9 10,043 5.5%
1995 101,162 23,412 42.2 10,284 4.8
1996 101,867 23,768 42.1 11,906 4.2
1997 102,472 25,111 43.3 15,264 3.7
1998 102,874 26,287 43.6 13,714 2.9
1999 104,281 27,704 43.9 14,551 3.0
2000 104,454 29,041 44.2 15,978 2.7
2001 108,787 29,818 43.0 16,293 2.7
2002 109,231 31,406 43.0 17,047 3.9
2003 109,719 32,408 43.9 16,295 4.9
Source: City of Clearwater, Florida Comprehensive Annual Financial Report for period
ending September 30,2003.
(a) University of Florida, Bureau of Economic and Business Research, Florida Statistical
Abstract 2003.
(b) Data is for Pinellas County. Source is the University of Florida, Bureau of Economic
and Business Research, Florida Statistical Abstract 2003.
(c) University of Florida, Bureau of Economic and Business Research, Florida Statistical
Abstract 2003.
(d) Pinellas County School District.
(e) University of Florida, Bureau of Economic and Business Research, Florida Statistical
Abstract 2003, as of December 31 of the current fiscal year.
NOTE: Data is for an unspecified point in each year, not specifically September 30.
A-5
Property Values and Construction
Last Ten Fiscal Years
Commercial Construction Residential Construction
Number Number Total Assessed
Fiscal of of Property Value
Year Permits Value Permits Value (a)
1994 1,077 $ 66,558,783 4,662 $21,151,330 $5,572,851,512
1995 1,391 120,116,220 5832 27,199,318 5,641,202,905
1996 1,860 43,299,453 6527 32,039,292 5,733,193,387
1997 1,762 94,445,784 6605 36,259,408 5,884,592,007
1998 1,392 52,983,592 7253 50,906,470 6,049,571,226
1999 1,821 90,77,005 5624 37,677,855 6,349,561,534
2000 2,667 177,569,812 5485 30,376,636 6,555,350,175
2001 2,312 164,701,145 5512 34,182,620 7,108,110,272
2002 2,196 108,939,096 5448 37,498,719 7,858,986,677
2003 1,834 193,901,304 6084 54,304,855 8,556,134,526
Source: City of Clearwater, Florida Comprehensive Annual Financial Report for period ending September 30,
2003.
(a) Pinellas County Property Appraiser, values listed are for years of collections.
A-6
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City of Clearwater, Florida
Principal Taxpayers*
September 30, 2003
Percentage
to Total
Assessed Assessed
Taxpayers Type of Business Value * Value
Bellwether Prop. LP Ltd. Shopping Center $ 91,974,300 1.65%
California State Teachers Apartment Complex 27,600,000 0.49
Taylor, John S. III Landowner 27,401,700 0.49
Weingarten Nostat Inc. Shopping Center 24,939,600 0.45
Sand Key Association Ltd. Hotel 24,000,000 0.43
Clearwater Land Co. Adult Congregate Facility 23,848,700 0.43
St. Joe Co. Office Building 23,549,300 0.42
Northwood Plaza Shopping Center 22,309,100 0.40
ZOM Bayside Arbors Ltd. Apartment Complex 19,268,000 0.35
Furnary, Stephen J. Apartment Complex 19,200,000 0.34
Subtotal 304,090,700 5.45
All Others 5,276,066,950 94.55
Total $5,580,157,650 100.00%
* Based on non-exempt real property assessed taxable values.
Source: City of Clearwater, Florida, Comprehensive Annual Financial Report for period
ending September 30, 2003; Pinellas County Property Appraiser, 2002 tax rolls
for 2003 collections.
A-IO
City of Clearwater, Florida
Ratio of Net General Bonded Debt to Taxable Assessed Value
and Net Bonded Debt Per Capita
Last Ten Fiscal Years
Ration of Net Net
Taxable Net General General
Assessed General Bonded Debt Bonded
Fiscal Value Bonded To Assessed Debt
Year Population (000)(1 ) Debt Value Per Capita
1993 100,768 $4,188,105 348,478 0.008% 3.46
1994 100,604 4,181,314 242,700 0.006 2.41
1995 10 1,162 4,186,108 133,597 0.003 1.32
1996 101,867 4,252,433 21,598 0.001 0.21
1997 102,472 4,376,559 165,000 0.004 1.61
1998 102,874 4,494,262 33,750 0.001 0.33
1999 104,281 4,692,398 n/a 0.00
2000 104,454 4,903,478 n/a 0.00
2001 108,787 5,208,787 n/a 0.00
2002 109,231 5,688,426 n/a 0.00
2003 109,719 6,105,078 n/a 0.00
Source: City of Clearwater, Florida, Comprehensive Annual Financial Report for
period ending September 30, 2002.
(1) Values listed are for year of collections.
[Remainder of page intentionally left blank]
A-II
City of Clearwater, Florida
Computation of Legal Debt Margin
September 30, 2003
Assessed Valuation of Non-Exempt Real Estate(a) ..................................... $5,580, 157,650
Times: Twenty Percent Limitation per City Charter....................................x .20
Equals Legal Indebtedness Limitation ......................................................... $1 J 16,-031,530
Debt Subject to Indebtedness Limitation:
Revenue Bonds:
1996A Gas System Revenue Bonds
1997 Gas System Revenue Bonds
1998 Gas System Revenue Bonds
1993 Water and Sewer Revenue Bonds
1998 Water and Sewer Revenue Bonds
2002 Water and Sewer Revenue Bonds
1999 Stormwater System Revenue Bonds
2002 Stormwater System Revenue Bonds
200 I Infrastructure Sales Tax Revenue Bonds
2001 Improvement Revenue Refunding Bonds
2002 Spring Training Revenue Bonds
Notes, Mortgages and Contracts
Totals
Legal Indebtedness Margin
Gross Debt
$8,270,000
11,870,000
7,860,000
14,005,000
51,924,771
58,680,000
7,150,000
24,685,000
41,345,000
11,005,000
14,645,000
13,746259
$265,186,030
Less Sinking
Fund Assets
7,917
43,750
2,917
9,496,000
1,561,045
4,268,135
119,167
403,333
4,391,667
1,105,310
268,333
o
$21.667.574
Net Debt
Subject to
Limitation
8,262,083
11,826,250
7,857,083
4,509,000
50,363,726
54,411,865
7,030,833
24,281,667
36,953,333
9,899,690
14,376,667
13,746259
$243.518.456
$872.513.074
Source: City of Clearwater, Florida, Comprehensive Annual Financial Report for period ending
September 30, 2002.
(a) Valuation listed is from 2002 tax year for 2003 collections.
A-12
City of Clearwater, Florida
Computation of Direct and Overlapping Debt
September 30, 2003
Net General
Obligation Debt
Governmental Unit Outstanding
Percent
Amount
City of Clearwater $
100.0%
$
Pinellas County School Board $66,895,235
13.6%
$9,097,752
(a) Applicable Net Debt Percentage is based on ratio of City to County Taxable values
for 2003 collections ($5,580,157,650/ $41,167,093,480 = 13.6%).
A-13
APPENDIX B
EXCERPTS FROM THE CITY'S COMPREHENSIVE ANNUAL
FINANCIAL REPORT FOR THE FISCAL YEAR ENDED SEPTEMBER 30,
2003
earwater,
Florida
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COMPREHENSIVE
FINANCIAL
ANNUAL
REPORT
BRIAN AUNGST
Mayor-Commissioner
WHITNEY GRAY
Vice Mayor-Commissioner
HOYT HAMILTON
Commissioner
FRANK HIBBARD
Commissioner
BILL JONSON
Commissioner
BILL HORNE
City Manager
MARGARET L. SIMMONS, CPA
Finance Director
Prepared by: City of Clearwater Finance Department
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City of Clearwater, Florida
Comprehensive Annual Financial Report
For the Fiscal Year Ended September 30,2003
TABLE OF CONTENTS
INTRODUCTORY SECTION: Page
Title Page and List of Elected and Appointed Officials....................................................................................... i
Letter of Transmittal......... ......... ..... ... ......... ....... ......... ................. .......... ... ............... ....... ... ........................ ........ vii
Certificate of Achievement for Excellence in Financial Reporting.................................................................... xi
Organizational Chart ......................... ............................................................................................................... .xii
FINANCIAL SECTION:
Independent Auditor's Report ............................................................................................................................ 1
Management's Discussion and Analysis... ........ ......... ....... ...... ............. .................... ....... .................. .......... ...... 3
Basic Financial Statements:
Government-wide Financial Statements:
Statement of Net Assets ................. ................................... .............. ...................... .......................... ..... 16
Statement of Activities. ........ ......... .................... ........ ................... ........ ....... ... ....... .......................... ....... 17
Fund Financial Statements:
Balance Sheet - Governmental Funds.................................................................................................18
Reconciliation of the Balance Sheet of Governmental Funds to the Statement of Net Assets........... 19
Statement of Revenues, Expenditures, and Changes in Fund Balances - Governmental Funds ...... 20
Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances
of Governmental Funds to the Statement of Activities ....................................................................... 21
Statement of Revenues, Expenditures, and Changes in Fund Balances -
Budget and Actual- General Fund ................................................................................................... 22
Statement of Revenues, Expenditures, and Changes in Fund Balances -
Budget and Actual- Special Development Fund..............................................................................23
Statement of Net Assets - Proprietary Funds ...................................................................................... 24
Statement of Revenues, Expenses, and Changes in Fund Net Assets - Proprietary Funds .............28
Statement of Cash Flows - Proprietary Funds..................................................................................... 32
Statement of Fiduciary Net Assets - Fiduciary Funds .........................................................................36
Statement of Changes in Fiduciary Net Assets - Fiduciary Funds....................................................... 37
Notes to Financial Statements ......................... .................. ....... ......... .......... ......... ......... ......... ........ ............. 38
Required Supplementary Information - Pension Trust Funds:
Schedules of Funding Progress...................... ................. ........ .......... ......... ......... ................... .................... 70
Schedules of Employer Contributions... ........ ......... ...................................................... ................... ...... ...... 71
Notes to Schedules of Required Pension Supplementary Information...................................................... 72
Combining and Individual Fund Statements and Schedules:
Combining Balance Sheet - Nonmajor Governmental Funds ................................................................... 76
Combining Statement of Revenues, Expenditures and Changes in Fund Balances -
Nonmajor Governmental Funds ................. ....... .................. .......... ........ ................. ........... ..................... 78
Schedule of Revenues, Expenditures, and Changes in Fund Balance -
Budget and Actual- Community Redevelopment Agency Special Revenue Fund ..............................81
Combining Statement of Net Assets - Nonmajor Enterprise Funds ......................................................... 84
Combining Statement of Revenues, Expenses, and Changes in Fund Net Assets -
Nonmajor Enterprise Funds ...... ......... ............... ................. ... ..... ............. ......... ....... ... ..... ... ...... .............. 85
Combining Statement of Cash Flows - Nonmajor Enterprise Funds ......................................................... 86
Combining Statement of Net Assets - Internal Service Funds.................................................................. 90
Combining Statement of Revenues, Expenses, and Changes in Fund Net Assets -
Internal Service Funds ...... ............... ..... ..... ....... ... ....... ......... ......... ........ .................. ... ......... ........ ...........91
Combining Statement of Cash Flows - Internal Service Funds ................................................................92
Hi
City of Clearwater, Florida
Comprehensive Annual Financial Report
For the Fiscal Year Ended September 30,2003
TABLE OF CONTENTS (Continued)
Combining Statement of Fiduciary Net Assets........................................................................................... 96
Combining Statement of Changes in Fiduciary Net Assets .......................................................................97
Statement of Changes in Assets and Liabilities - Treasurer's Escrow Agency Fund ............................... 98
Capital Assets Used in the Operation of Governmental Funds:
Comparative Schedules by Source ....................................................................................................101
Schedule by Function and Activity ......................................................................................................102
Schedule of Changes by Function and Activity ..................................................................................103
Supplementary Information:
Continuing Disclosure - Gas System Revenue Bonds, Series 1996A, 1997A&B, and 1998..................106
Continuing Disclosure - Water & Sewer Revenue Bonds, Series 1993,1998, and 2002......................110
Continuing Disclosure - Stormwater Revenue Bonds, Series 1999 and 2002 ....................................... 113
Continuing Disclosure -Infrastructure Sales Tax Revenue Bonds. Series 2001 ...................................114
Continuing Disclosure - Improvement Revenue Refunding Bonds, Series 2001 ................................... 114
Fire Services Program .......... ................ ......... ......... ..... ............ .......... ....... ............ ....... ........ .......... ........... 115
STATISTICAL SECTION:
Table I General Governmental Expenditures by Function - Last Ten Fiscal years......................................... 118
Table II General Revenues by Source - Last Ten Fiscal Years ........................................................................ 120
Table III Property Tax Levies and Collections - Last Ten Fiscal Years .............................................................122
Table IV Assessed and Estimated Property Valuations Last Ten Fiscal Years .................................................124
Table V Property Tax Rates - All Direct and Overlapping Govemments -
Last Ten Fiscal Years ...... ........ .................. ........ ....... ......... ........... ........ ......... .......... ............ ..... ......... .......... 126
Table VI Principal Taxpayers ................................. ............ ...... ........ ............ ........ .......... ........... ............... ........... 128
Table VII Ratio of Net General Bonded Debt to Taxable Assessed Value and Net
Bonded Debt Per Capita - Last Ten Fiscal Years .......................................................................................129
Table VIII Ratio of Annual General Debt Service to Expenditures - General
B.onded Debt, General Revenue Certificates, and Mortgages
and Notes - Last Ten Fiscal Years ........................................................................................................130
Table IX Computation of Legal Debt Margin ....................................................................................................... 131
Table X Computation of Direct and Overlapping Debt....................................................................................... 131
Table XI Revenue Bond Coverage:
Water and Sewer Revenue Bonds Coverages ........................................................................................... 132
Gas Revenue Bonds Coverages ..............~.................................................................................................. 133
Stormwater Revenue Bonds Coverages .....................................................................................................134
Infrastructure Sales Tax Revenue Bonds Coverages................................................................................. 134
Spring Training Facility Revenue Bonds Coverages ................................................................................... 135
Improvement Revenue Refunding Bonds Coverages.................................................................................135
Table XII Property Values and Construction - Last Ten Fiscal years................................................................. 136
Table XIII Demographic Statistics - Last Ten Fiscal Years .................................................................................. 137
Table XIV Miscellaneous Facts.. ....... ........... ........ ................ .................... .................. .......... ......... ........ ........ ......... 138
SINGLE AUDIT I GRANTS COMPLIANCE SECTION:
Report on Compliance and on Internal Control Over Financial Reporting Based on an Audit
of Financial Statements Performed in Accordance with Governmental Auditing Standards ............................141
Report on Compliance with Requirements Applicable to Each Major Program and Internal
Control Over Compliance in Accordance with OMB Circular A-133 ..................................................................143
Schedule of Expenditures of Federal Awards and State Financial Assistance for the Year
Ended September 30, 2003 ........................................................................ .......................................................146
Notes to Schedule of Expenditures of Federal Awards and State Financial Assistance....................................... 150
Schedule of Findings and Questioned Costs for the Year Ended September 30, 2003.......................................151
Management Letter as Required by Rules of the Auditor General............,...........................................................153
Management Advisory Comments .........................................................................................................................155
v
March 29,2004
The Honorable Mayor, Councilmembers,
and Citizens of the City of Clearwater:
The City of Clearwater Charter (Section 2.01 (c)3), Florida Statutes, and various covenants relating to
debt and pension obligations of the City require an annual audit of the City's financial statements of all
funds of the City by a firm of licensed certified public accountants. These statements must be
presented in conformity with generally accepted accounting principles (GAAP) and audited in
accordance with generally accepted auditing standards. Pursuant to these requirements we hereby
issue the comprehensive annual financial report of the City of Clearwater for the fiscal year ended
September 30, 2003.
This report consists of management's representations concerning the finances of the City.
Consequently, management assumes full responsibility for the completeness and reliability of all of the
information presented in this report. To provide a reasonable basis for making these representations,
management of the City has established a comprehensive internal control framework that is designed
both to protect the government's assets from loss, theft, or misuse and to compile sufficient reliable
information for the preparation of the City's financial statements in conformity with GAAP. Because the
cost of internal controls should not outweigh their benefits, the City's comprehensive framework of
internal controls has been designed to provide reasonable rather than absolute assurance that the
financial statements will be free from material misstatement. As management, we assert that, to the
best of our knowledge and belief, this financial report is complete and reliable in all material respects.
Grant Thornton, LLP, a firm of licensed certified public accountants, has audited the City's financial
statements. The goal of the independent audit was to provide reasonable assurance that the financial
statements of the City for the fiscal year ended September 30, 2003, are free of material misstatement.
The independent audit involved examining, on a test basis, evidence supporting the amounts and
disclosures in the financial statements; assessing the accounting principles used and significant
estimates made by management; and evaluating the overall financial statement presentation. The
independent auditor concluded that there was a reasonable basis for rendering an unqualified opinion
that the City's financial statements for the fiscal year ended September 30, 2003, are fairly presented in
conformity with GAAP. The independent auditor's report is presented as the first component of the
financial section of the report.
The independent audit of the financial statements of the City was part of a broader, federally mandated
"Single Audit" designed to meet the special needs of federal and state grantor agencies. The
standards governing Single Audit engagements require the independent auditor to report not only on
the fair presentation of the financial statements, but also on the audited government's internal controls
and compliance with legal requirements, with special emphasis on internal controls and legal
requirements involving the administration of federal and state awards. These reports are in the Single
Audit section of this report.
vii
GAAP requires that management provide a narrative introduction, overview, and analysis to
accompany the basic financial statements in the form of Management's Discussion and Analysis
(MD&A). This letter of transmittal is designed to complement the MD&A and should be read in
conjunction with it. The City's MD&A can be found immediately following the report of the independent
auditors.
Profile of the City of Clearwater, Florida
Clearwater is located on the Pinellas Peninsula midway on Florida's west coast. It is directly located on
the Gulf of Mexico, 20 miles west of Tampa and 20 miles north of St. Petersburg. Clearwater is the
county seat of Pinellas County and one of the largest cities in the Tampa Bay area. The Clearwater
area offers a semitropical climate and 28 miles of beautiful beaches. Consequently, tourism is an
important component of the economy. However, Clearwater also enjoys a diversity of manufacturing,
service industries, high-tech companies, and a significant retirement population.
The City provides municipal services of police and fire protection; construction and maintenance of
streets, bridges, sidewalks, storm drainage, public parks, and recreation facilities; planning, zoning,
subdivision, and building code regulation and enforcement; redevelopment of commercial and
residential neighborhoods; supervised recreation programs; public libraries; water supply and
distribution; waste water collection, treatment, and disposal; natural gas distribution; solid waste
collection and recycling; stormwater management; marina, airpark, convention center, and public
fishing pier operations; and operation of the city-wide parking system.
The annual budget serves as the foundation for the City's financial planning and control. Per City Code
of Ordinances, the City Manager is required to provide to the City Council an operating budget for the
ensuing fiscal year, a capital improvement budget, and a five-year capital improvement program, along
with an accompanying budget message no later than 60 days prior to the end of the fiscal year. The
Council is required to hold public hearings on the budget and to adopt a final operating budget and
capital improvement budget no later than September 30, the close to the City's fiscal year. The
appropriated budget is prepared by fund and by department within fund.
Factors Affecting Financial Condition
The information presented in the financial statements is perhaps best understood when it is considered
from the broader perspective of the specific environment within which the City operates.
Local Economy
The Tampa Bay metropolitan area continues to resist national trends, with housing and job markets
stronger than most of the nation. The Tampa Bay region has an employed labor force of
approximately 1.2 million, which is anticipated to grow at a rate of between 2 percent and 3 percent
each year for the next several years. The unemployment rate for September 2003 was at 4.5 percent
versus a national average of 6.1 percent. Business development interest in the City's downtown and
beach areas has increased significantly in recent years as property valuation increases reflect. We are
also beginning to see renewed interest in the City's markets for multi-family and residential housing.
Long-term Financial Planning
The volume and scope of projects either completed or begun during fiscal 2003 is unprecedented in
Clearwater's history and is expected to benefit the community for many years to come.
viii
Three major projects . the new Memorial Causeway Bridge, Main Library, and Community Sports
Complex - were all nearing completion at fiscal year-end. The new Memorial Causeway Bridge will be
.a fixed, high-span "signature piece" bridge to replace the current drawbridge. Expected completion of
the bridge is fiscal 2004. The new 90,OOO-square-foot main library, overlooking the Intracoastal
Waterway in downtown Clearwater, is destined to become a focal point of downtown redevelopment.
Expected completion is also fiscal 2004. The Community Sports Complex includes a new Spring
Training facility for the Philadelphia Phil/ies major league baseball organization and construction was
completed prior to the 2004 Spring Training season opener.
Several projects also were completed in the North Greenwood community during fiscal 2003. These
included a new recreation and aquatics center, branch library, and Martin Luther King, Jr. Avenue
corridor enhancements.
Additionally, two new fire stations were opened; comprehensive plans were adopted to spur
redevelopment of the downtown, downtown waterfront, and beach; redevelopment of the Clearwater
Mall was nearing completion; and a state-of-the-art reverse osmosis water treatment plant was
completed.
Cash Management Policies and Practices
As more completely described in Note I - 0 - 1 of the notes to the financial statements, the City
employs a consolidated cash pool to facilitate short-term investment of liquid assets for all City funds.
The City believes that a conservative investment philosophy best serves the residents of Clearwater,
and that the return of the investment principal is more important than the return on the principal.
However, the City attempts to maximize the return, while maintaining a conservative philosophy, via
accurate cash flow forecasting and competitive selection of investments. The cash pool earned an
average rate of return of 3.32% on its investments during fiscal year 2003. Current year investment
income includes depreciation in the fair value of investments that will not be realized if the government
holds the investments to maturity as intended.
Risk Management
The City is self-insured within certain parameters for losses arising from claims for general liability,
auto liability, police professional liability, public officials' liability, property damage, and workers'
compensation. The transactions relating to the self-insurance program are accounted for in the Central
Insurance Fund, and are reported as an Internal Service Fund. The City is not self-insured with
respect to major medical coverage. Management believes that the amounts showing as claims payable
and the unreserved retained earnings are adequate to cover all reasonable projected losses arising
from events occurring on or prior to September 30, 2003. Additional information on the City's risk
management activity can be found in Note IV - A of the notes to the financial statements.
Pension and Other Postemployment Benefits
The Employees' Pension Plan and the Firemen's Pension Plan are single-employer defined benefit
pension plans that are self-administered by the City. Each year, independent actuaries engaged by the
pension plans calculate the amount of the minimum required contributions that the City must make to
each of the plans to ensure that the plans will be able to fully meet their obligations to retired
employees on a timely basis. City contributions for the year were in accordance with actuarially
determined funding requirements.
In addition, supplemental pensions exist for certified Police Officers and Firefighters under the
provisions of Florida Statutes Sections 175 and 185. These plans are funded solely from excise taxes
on certain insurance premiums covering property in Clearwater. The excise taxes are collected by the
state and remitted to the City. Both plans require benefits to be adjusted to equal fund assets provided
by the defined contributions.
Additional information on the City's pension plans can be found in Note IV - E of the notes to the
financial statements.
ix
Awards and Acknowledgements
The Government Finance Officers Association (GFOA) awarded a Certificate of Achievement for
Excellence in Financial Reporting to the City for it's comprehensive annual financial report (CAFR) for
the fiscal year ended September 30, 2002. This was the twenty-fourth consecutive year that the City
received this prestigious award. In order to be awarded a Certificate of Achievement, the government
published an easily readable and efficiently organized CAFR. This report satisfied both GMP and
applicable legal requirements. A Certificate of Achievement is valid for a period of one year only. We
believe that our current CAFR continues to meet the Certificate of Achievement Program's
requirements and we are submitting it to the GFOA to determine its eligibility for another certificate.
In addition, the City received the GFOA's Distinguished Budget Presentation Award for the fiscal year
2003 Budget document, the seventeenth consecutive year that this award has been received. In order
to qualify, the City's Budget document was judged to be proficient in several categories including as a
policy document, a financial plan, an operations guide, and a communications device.
We wish to thank the many members of the Citywide Annual Financial Reporting (CAFR) team, which
is composed of individuals in the Finance Department and other financial staff throughout the City, for
their professionalism and dedication in producing this report. In addition, we thank the Graphic
Communications Division for the professional printing of this report. Sincere appreciation is also
extended to the City's external auditors, Grant Thornton, LLP, for their advice and assistance in the
preparation of this report. Finally, we would like to thank the City Council for their interest, continued
support, and leadership in planning and conducting the financial operations of the City in a progressive
and responsible manner.
Sincerely,
~B.~-n
William B. Horne, II
City Manager
Lm.ft~~~ d( ~
Margaret L. Simmons, CPA
Finance Director
x
Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
City of Clearwater,
Florida
For its Comprehensive Annual
Financial Report
for the Fiscal Year Ended
September 30, 2002
A Certificate of Achievement for Excellence in Financial
Reporting is presented by the Government Finance Officers
Association ofthe United States and Canada to
government units and public employee retirement
systems whose comprehensive annual financial
reports (CAFRs) achieve the highest
standards in government accounting
and [mancial reporting.
~
President
~/~
Executive Director
xi
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xii
Grant Thornton ai
Accountants and Business Advisors
Report of Independent Certified Public Accountants
Honorable Mayor-Commissioner,
City Commissioners and City Manager
City of Clearwater, Florida
We have audited the accompanying financial statements of the governmental activities, the business-
type activities, each major fund, and the aggregate remaining fund information of the City of Clearwater,
Florida (the City), as of and for the year ended September 30, 2003, which collectively comprise the
City's basic financial statements as listed in the table of contents. We have also audited the financial
statements of each of the City's nonmajor governmental, nonmajor enterprise, internal service and
fiduciary funds presented as supplementary information in the accompanying combining and individual
fund financial statements as of and for the year ended September 30, 2003, as listed in the table of
contents. These financial statements are the responsibility of the City's management. Our responsibility
is to express opinions on these financial statements based on our audit.
We conducted our audit in accordance with auditing standards generally accepted in the United States of
America and the standards applicable to financial audits contained in Government Auditing Standards,
issued by the Comptroller General of the United States of America. Those standards require that we
plan and perform the audit to obtain reasonable assurance about whether the basic financial statements
are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the
amounts and disclosures in the financial statements. An audit also includes assessing the accounting
principles used and significant estimates made by management, as well as evaluating the overall
financial statement presentation. We believe that our audit provides a reasonable basis for our opinions.
In our opinion, based on our audit, the financial statements referred to above present fairly, in all material
respects, the respective financial position of the governmental activities, the business-type \ ctivities,
each major fund, and the aggregate remaining fund information of the City of Clearwater, FlonJa as of
September 30, 2003, and the respective changes in financial position and cash flows, where applicable,
thereof for the year then ended in conformity with accounting principles generally accepted in the United
States of America. In addition, in our opinion, the financial statements referred to above present fairly, in
all material respects, the respective financial position of each non major governmental, nonmajor
enterprise, internal service, and fiduciary fund of the City of Clearwater, Florida as of September 30,
2003, and the respective changes in financial position and cash flows, where applicable, thereof for the
year then ended in conformity with accounting principles generally accepted in the United States of
America.
In accordance with Government Auditing Standards, we have also issued our report dated January 16,
2004 on our consideration of the City's internal control over financial reporting and on our tests of its
compliance with certain provisions of laws, regulations, contracts and grants. That report is an integral
part of an audit performed in accordance with Government Auditing Standards and should be read in
conjunction with this report in considering the results of our audit.
Suite 3850
101 E. Kennedy Blvd
Tampa, FL 33602.5152
T 813.229.7201
F 813.223.3015
W www.grantthornton.com
Grant Thornton LLP
US Member of Grant Thornton International
The Management's Discussion and Analysis and the pension plan required supplementary information
on pages 3 through 14 and pages 70 through 72 are not a required part of the basic financial statements
but are supplementary information required by the Governmental Accounting Standards Board. We
have applied certain limited procedures, which consisted principally of inquiries of management
regarding the methods of measurement and presentation of the required supplementary information.
However, we did not audit the information and express no opinion on it.
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively
comprise the City's basic financial statements. The introductory section and statistical tables are
presented for purposes of additional analysis and are not a required part of the basic financial
statements. The introductory section and statistical tables have not been subjected to the auditing
procedures applied in the audit of the basic financial statements, and accordingly, we express no opinion
on them.
The accompanying schedule of federal and state financial assistance for the year ended September 30,
2003 is presented for purposes of additional analysis as required by U.S. Office of Management and
Budget Circular A-133, Audits of states, Local Governments, and Non-Profit Organizations, Section
215.97, Florida Statutes and Chapter 10.550 rules of the Auditor General, and is not a required part of
the basic financial statements. Such information has been subjected to the auditing procedures applied
in the audit of the basic financial statements and, in our opinion, is fairly stated, in all material respects, in
relation to the basic financial statements taken as a whole.
~~LLjJ
Tampa, Florida
January 16, 2004
2
Management's Discussion and Analysis
Management's Discussion and Analysis provides the reader with a narrative overview and analysis of the financial
activities of the City for the fiscal year ended September 30, 2003. Management's Discussion and Analysis (MD & A)
should be read in conjunction with the City's Transmittal Letter, which begins on page vii of this report.
Financial Highlights
The City's assets exceeded its liabilities at the close of fiscal year 2003 by $449.6 million (net assets). Of this
amount, $153.4 million (unrestricted net assets) may be used to meet the government's ongoing obligations to
citizens and creditors.
The City's total net assets increased by $38.8 million (or 9.4%) during fiscal 2003. The governmental net assets
increased by $27.7 million (or 14.4%) while the business-type net assets increased by $11.1 million (or 5.1 %).
A significant factor in the increase in governmental net assets was current year grants and donations of approximately
$8.8 million as detailed in the Government-wide Financial Analysis that follows.
The $11.1 million increase in business-type net assets is primarily due to contributions and grants from other
governments and developers of $9.4 million, along with rate increases for water & sewer, stormwater, and gas
utilities, as discussed in the following analysis of business-type activities, partially offset by a $2.6 million increase in
interest expense for new water & sewer and stormwater bond issues during fiscal 2002.
At September 30, 2003, the City's governmental funds reported combined ending fund balances of $87.7 million, a
decrease of $15.1 million (or 14.7%) in comparison with the prior year. Of this amount, $49.6 million (or 56.5%) is
available for spending at the government's discretion (unreserved fund balance). The decrease of $15.1 million in
governmental fund balances is primarily due to current year capital outlay expenditures for major construction
projects, including $9.4 million for the community sports complex and $9.7 million for the new main library.
At September 30, 2003, unreserved fund balance for the General Fund was $12.1 million, or 14.0% of total general
fund expenditures.
Total actual revenues for the General Fund approximated final budgeted revenues while total actual expenditures
were less than budgeted expenditures by $1.3 million, for a combined savings of $1.3 million.
Overview of the Financial Statements
This discussion and analysis (MD&A) is intended to serve as an introduction to the City of Clearwater's basic financial
statements. The City's basic financial statements are comprised of three components: 1) government-wide financial
statements, 2) fund financial statements, and 3) notes to the financial statements. This report also contains other
supplementary information in addition to the basic financial statements themselves.
Government-Wide Financial Statements
The government-wide financial statements are the statement of net assets and the statement of activities. These
statements report information about the City as a whole using accounting methods similar to those used by private-
sector businesses. Emphasis is placed on the net assets of governmental activities and business-type activities, and
the change in net assets. Governmental activities are principally supported by taxes and intergovernmental
revenues. Governmental activities include most of the City's basic services, including police, fire, public works, parks
and recreation, and general administration. Business-type activities are intended to recover all or a significant portion
of their costs through user fees and charges. The City's water and sewer system, stormwater system, gas system,
solid waste, recycling, marine, aviation, convention center, and parking system operations are reported as business-
type activities.
· The statement of net assets presents information on all of the City's assets and liabilities, with the difference
between the two reported as net assets. Over time, increases or decreases in net assets may serve as a
useful indicator as to whether the financial position of the City is improving or deteriorating. Net assets are
reported in three major categories: 1) invested in capital assets, net of related debt; 2) restricted; and 3)
unrestricted.
3
. The statement of activities presents information showing how the City's net assets changed as a result of the
year's activities. All changes in net assets are recorded in the period in which the underlying event takes
place, which may differ from the period in which cash is received or disbursed. The Statement of Activities
displays the expense of the City's various programs net of related revenues, as well as a separate
presentation of revenues available for general purposes.
The government-wide financial statements include not only the City of Clearwater itself (known as the primary
governmen~, but also the legally separate Downtown Development Soard (DDS). The DDS, though legally separate,
is included as a discretely presented component unit because it was created by City ordinance and the City is thereby
able to impose its will on the organization. In addition it is the opinion of the City's management that exclusion of the
DDS from the City's financial statements would cause the financial statements to be incomplete. The Clearwater
Redevelopment Agency (CRA), though also legally separate, is reported as part of the primary government due to the
City Commission serving as the CRA's governing board, or as a blended component unit.
Fund Financial Statements
A fund is a grouping of related accounts that is used to maintain control over resources that have been segregated for
specific activities or objectives. The fund financial statements provide detailed information about the City's major
funds - not the City as a whole. Fund accounting helps to ensure and demonstrate compliance with finance-related
legal requirements. Based on restrictions on the use of monies, the City has established many funds that account for
the multitude of services provided to residents. These fund financial statements focus on the City's most significant
funds: governmental, proprietary, and fiduciary.
Governmental funds
Governmental funds are used to report most of the City's basic services. These funds are used to account for
essentially the same functions reported as governmental activities in the government-wide financial statements. The
funds focus on the inflows and outflows of current resources and the balances of spendable resources available at the
end of the fiscal year. Such information may be useful in evaluating a government's near-term financing
requirements.
Because the focus of governmental funds is narrower than that of the government-wide financial statements, it is
useful to compare the information presented for governmental funds with similar information presented for
governmental activities in the government-wide financial statements. By doing so, readers may better understand the
long-term impact of the government's near-term financing decisions. Both the governmental fund balance sheet and
the governmental fund statement of revenues, expenditures, and changes in fund balances provide a reconciliation to
facilitate this comparison between governmental funds and governmental activities.
The City maintains twelve individual governmental funds. Information is presented separately in the governmental
funds balance sheet and in the governmental funds statement of revenues, expenditures, and changes in fund
balances for the General, Special Development, and Capital Improvement funds, which are considered to be major
funds. Data from the other nine governmental funds are combined into a single aggregated columnar presentation.
Individual fund data for each of these nonmajor governmental funds is provided in the form of combining statements in
the supplementary information section of this report.
The City adopts annual appropriated budgets for the General, Special Development, and Community Redevelopment
Agency funds. A budgetary comparison statement has been provided for these funds to demonstrate budgetary
compliance.
4
Proprietary funds
The City maintains two different types of proprietary funds. Enterprise funds are used to report the same functions
presented as business-type activities in the government-wide financial statements. The City uses enterprise funds to
account for the fiscal activities related to water and sewer, gas, solid waste and stormwater utilities, along with
recycling, marine, aviation, parking system, and convention center operations. Internal service funds are an
accounting device used to accumulate and allocate costs internally among the City's various functions. The City uses
internal service funds to account for the City's building maintenance, custodial services, self-insurance program, risk
management program, employee group insurance, vehicle acquisition and maintenance, and various support
activities including data processing, legal, telecommunications, postal, and printing services. All of the City's internal
service funds predominantly benefit governmental activities and consequently have been aggregated and included
within governmental activities in the government-wide financial statements.
Proprietary funds provide the same type of information as the government-wide financial statements, only in more
detail. The proprietary fund financial statements provide separate information for the Water and Sewer Utility, Gas
Utility, Solid Waste Utility, and Stormwater Utility enterprise funds, which are considered to be majorfunds of the City.
The remaining four non-major enterprise funds are combined into a single aggregated presentation in the proprietary
fund financial statements. Similarly, governmental activity internal service funds are aggregated into a single
presentation, as are business-type activity internal service funds. Individual fund data for the non-major enterprise
funds and the internal service funds is provided in the form of combining statements in the supplementary information
section of this report.
Fiduciary funds
Fiduciary funds are used to account for resources held for the benefit of parties outside the government. Fiduciary
funds are not reflected in the government-wide financial statements because the resources of the fiduciary funds are
not available to support the City's own programs. The accounting used for fiduciary funds is similar to proprietary
funds.
Notes to the Financial Statements
The notes to the financial statements provide additional information that is essential for a full understanding of the
information provided in the government-wide and fund financial statements. The notes also present certain required
supplementary information concerning the City's progress in funding its obligation to provide pension benefits to its
employees.
Other Information
In addition to the basic financial statements and accompanying notes, this report also presents certain required
supplementary information concerning the City's progress in funding its obligation to provide pension benefits to its
employees.
The combining statements referred to earlier in connection with non-major governmental funds, non-major enterprise
funds, and internal service funds, are presented immediately following the required supplementary information.
Government-Wide Financial Analysis
As noted earlier, net assets may serve over time as a useful indicator of a government's financial position. In the case
of the City, assets exceeded liabilities by $450.5 million at the close of the fiscal year ended September 30, 2003.
The City reports positive balances in all three categories of net assets, both for the government as a whole as well as
for its separate governmental and business-type activities, for both the current year and the prior year, as indicated in
the following table:
5
Assets
Current and other assets
Capital assets
Total assets
Liabilities
Current and other liabilities
Long-term debt outstanding:
Due within one year
Due in more than one year
Total liabilities
Net assets:
Invested in capital assets,
net of related debt
Restricted
Unrestricted
Total net assets
Assets
Current and other assets $
Total assets
Liabilities
Current and other liabilities
Long-term debt outstanding:
Due within one year
Due in more than one year
Total liabilities
Net assets:
Unrestricted
Total net assets $
City of Clearwater - Net Assets
Primary Government
Governmental Activities Business-type Activities Total
2003 2002 2003 2002 2003 2002
$ 183,987,172 $190,130,502 $ 138,060,189 $ 145,407,013 $ 322,047,361 $ 335,537,515
181,581,235 145,766,043 288,869,651 272,405,002 470,450,886 418,171,045
365,568,407 335,896,545 426.929,840 417.812,015 792,498,247 753,708,560
47,623,005 52,771,504 11,072,082 9,672,629 58,695,087 62,444,133
14,476,646 10,075,522 8,557,403 7,730,461 23,034,049 17,805,983
83,916,133 81,185,447 1n,294,521 181,501,022 261.210,654 262.686,469
146,015,784 144,032,473 196,924,006 198,904,112 342,939,790 342,936,585
103,014,874 60,969,830 105,824,224 86,678,577 208,839,098 147,648,407
53,938,944 63,794,806 33,412,704 38,382,264 87,351,648 102,1n,070
62,598,805 67,099,436 90,768,906 93,847,062 153,367,711 160,946,498
$ 219,552,623 $ 191,864.072 $ 230,005,834 $ 218,907,903 $ 449,558,457 $ 410,771,975
Component Unit
Clearwater Downtown
Development Board
2003 2002
409,479 $ 349,061
409,479 349,061
207,445 206,289
7,848 7,848
78,483 86,331
293,n6 300,468
115,703 48,593
115,703 $ 48,593
A large portion of the City's net assets (46.5%) reflects its investment in capital assets (e.g., land, land improvements,
buildings, and equipment), less any related outstanding debt used to acquire those assets. The City uses these
capital assets to provide services to citizens, and consequently these assets are not available for future spending.
Although the City's investment in capital assets is reported net of related debt, it should be noted that the resources
needed to repay this debt must be provided from other resources, since the capital assets themselves will not be used
to liquidate these liabilities.
An additional portion of the City's net assets (19.4%) represents resources that are subject to external restrictions on
how they may be used. The remaining balance of unrestricted net assets ($153.4 million) may be used to meet the
government's ongoing obligations to citizens and creditors.
There was a $42.0 million increase in invested in capital assets, net of related debt for governmental activities, due to
a $35.8 million increase in governmental activities net capital assets, along with a decrease in related debt. The
increase of $35.8 million was primarily due to: construction in progress expenditures for a new spring training
community sports complex and a new main library; a donated recreation complex (Long Center); and a donated land
parcel as described in the Capital Assets discussion on page 12 of this report. Similarly invested in capital assets, net
of related debt for business-type activities increased by $19.1 million due to a $16.5 million increase in business-type
activities net capital assets and a reduction in related debt. The increase in net capital assets was due to various
utility system asset additions as detailed in the Capital Assets discussion on page 12 of this report.
Changes in Net Assets
The following tables reflect the changes in net assets for the years ended September 30, 2003, and September 3D,
2002, for both the City and its discretely presented component unit:
6
City of Clearwater, Florida - Changes In Net Assets
Primary Government
Govermental Activities Business-type Activities Totals
2003 2002 2003 2002 2003 2002
Revenues
Program revenues:
Charges for services $ 23,822,887 $ 22,832,952 $104,931,876 $ 98,504,808 $128,754,763 $121,337,760
Operating grants and contributions 8,266,931 6,111,789 14,699 8,281,630 6,111,789
Capital grants and contributions 5,206,733 9,787,351 9,406,042 4,300,651 14,612,775 14,088,002
General revenues:
Property taxes 33,927,390 30,322,411 33,927,390 30,322,411
Sales taxes 14,528,873 14,663,969 14,528,873 14,663,969
Franchise fees and utility taxes 24,521,066 25,359,362 24,521,066 25,359,362
Other taxes 3,974,357 4,294,408 3,974,357 4,294,408
Other 2,355,095 5,184,077 2,147,878 3,083,160 4,502,973 8,267,237
Total revenues 116,603,332 118,556,319 116,500,495 105,888,619 233,103,827 224,444,938
Expenses
General Government 11,353,210 11,646,741 11,353,210 11,646,741
Public Safety 47,428,586 45,135,649 47,428,586 45,135,649
Physical Environment 2,270,918 2,886,504 2,270,918 2,886,504
Transportation 8,878,325 10,120,224 8,878,325 10,120,224
Economic Environment 4,288,244 3,230,524 4,288,244 3,230,524
Human Services 571,088 555,395 571,088 555,395 .
Culture and Recreation 22,093,943 22,230,715 22,093,943 22,230,715
Interest on Long-term Debt 3,283,732 2,962,849 3,283,732 2,962,849
Water and Sewer Utility 40,825,196 37,470,508 40,825,196 37,470,508
Gas Utility 26,638,165 23,573,611 26,638,165 23,573,611
Solid Waste Utility 14,231,764 14,397,892 14,231,764 14,397,892
Stormwater Utility 7,021,639 5,458,556 7,021,639 5,458,556
Other 11,242,581 11,057,400 11,242,581 11,057,400
Total expenses 100,168,046 98,768,601 99,959,345 91,957,967 200,127,391 190,726,568
Increase in net assets before
transfers 16.435.286 19,787.718 16.541,150 13.930.652 32.976.436 33.718,370
Special item - donated
recreation comolex 5.810,046 5,810,046
Transfers 5.443,219 938,688 (5,443,219) (938,688)
Increase in net assets 27,688,551 20,726,406 11,097,931 12,991,964 38,786,482 33,718,370
Net assets - beginning 191,864,072 171,137,666 218,907,903 205,915,939 410,771,975 377,053,605
Net assets - ending $219,552,623 $ 191,864,072 $ 230,005,834 $ 218,907,903 $449,558,457 $ 41 0,771,975
Component Unit
Clearwater Downtown Development Board
2003 2002
Revenues
Program revenues:
Operating grants and contributions $
General revenues:
Property taxes
Other
Total revenues
Expenses
Downtown Development Board
Total expenses
Increase in net assets
Net assets - beginning
Net assets - ending $
65,189
$
63,716
205,218
7,299
277,706
172,045
7,488
243,249
210,596
210,596
67,110
48,593
115,703
191 ,277
191,277
51,972
(3,379)
48,593
$
The City's net assets increased $38.8 million during fiscal 2003 versus $33.7 million for fiscal 2002. Approximately
37% of this increase represents the degree to which increases in ongoing revenues have outstripped similar
increases in ongoing expenses. Approximately 35% is attributable to one-time capital grants and donations, while the
remainder is due to rate increases, increases in operating grants, and investment earnings, decreased by increases in
interest expense on long term debt.
7
Governmental Activities
Governmental activities net assets increased by $27.7 million from $191.9 million as of September 30, 2002, to
$219.6 million as of September 30, 2003. This increase due to governmental activities accounted for 71 % of the total
increase in net assets for the City. Key elements of this increase are as follows:
. An 11.9% increase in property tax revenues from $30.3 million to $33.9 million, due to a 7.3% increase in
taxable assessed values, as well as a 4.5% current year increase in the City millage rate.
. A current year contribution of $3 million from the Florida Department of Transportation towards construction of
the new Memorial Causeway Bridge. During fiscal 2002 a $5 million contribution was received from Pinellas
County towards construction of the new bridge.
. Current year receipt of title to a donated recreation complex, the Long Center, in the amount of $5.8 million,
reflected as a special item on the Statement of Activities.
The cost of all Governmental activities this year was $100.2 million. However, as shown on the Statement of
Activities, the amount that the City's taxpayers ultimately financed for these activities through taxes was only $62.9
million because some of the cost was paid for by those who directly benefited from the programs ($23.8 million) or by
other governments and organizations that subsidized certain programs with grants and contributions ($13.5 million).
. Expenses
. Revenues
Expenses and Program Revenues - Governmental Activities
For the Year Ended September 30, 2003
Millions
$50
$45
$40
$35
$30
$25
$20
$15
$10
$5
$0
~~ ,('~ ~ .l:f' ~ 0":> .:..~~ :Q-
~ ~ # ~ # ~ ~ ~
!$' r:o"ti ~ o~ o~ c..0' - ...0 t"
~ ~ .~ ~ ~ v J ,~
o :0 ~ _~c,; /.~ ~~ "'" ~
~0 qv ~ ",<'(1' 'f,Jv .>o..~~ ri'?:> ,9~C$
~e\ ~v~ o~ "'" ~e 0<::0"
0'0 ,.,~"I o~ ~v ~
'" <vv c; ~0
,~0
8
Revenues by Sources - Governmental Activities
For the Year Ended September 30, 2003
Property taxes
30%
Sales taxes
12%
Capital grants and
contributions
4%
Franchise fees and utility
taxes
22%
Operating grants and
contributions
7%
Charges for services
20%
Business-type Activities
Net assets for business-type activities increased from $218,907,903 to $230,005,834. This increase totaled $11.1
million, reflecting a 5.1 % increase in business-type activities net assets and 28% of the total increase in net assets for
the City. This increase was $1.9 million less than the fiscal year 2002 increase in net assets of $13.0 million.
Total revenues increased by $10.8 million, or 10.2% versus the prior year. The increase resulted from a $6.4 million
increase in charges for services, primarily due to stormwater system and water and sewer system rate increases; in
addition to increased gas system sales, due to a 11 % increase in customer accounts, as well as favorable market
conditions related to a cold winter and relatively high gas prices. Also contributing to the $10.8 million increase in
revenues was a $5.1 million increase in capital grants and contributions, primarily due to capital grants received for
stormwater and water and sewer system improvements. These increases were partially offset by a $0.9 million
decrease in investment earnings due to a significant decline in interest rates.
Total expenses increased by $8.0 million from $92.0 million in fiscal 2002 to $100.0 million for fiscal 2003. Significant
factors contributing to this $8.0 million increase were increases in interest expense for the water and sewer utility
system ($2.6 million) and the stormwater utility system ($0.8 million) due to fiscal 2002 revenue bond issues.
Additionally, gas utility purchases for resale increased by $2.9 million over fiscal 2002 partially due to increased sales
as well as increases in prices for gas purchased for resale. Also contributing to the increase in expenses was an
increase in water and sewer system repairs and maintenance expense of $1.4 million versus fiscal 2002.
9
$50,000,000
$45,000,000
$40,000,000
$35,000,000
$30,000,000
$25,000,000
$20,000,000
$15,000,000
$10,000,000
$5,000,000
$0
Expenses and Program Revenue - Business-type Activities
For the Year Ended September 30, 2003
. Expenses
. Revenues
Water and Sewer
Utility
Gas Utility
Other
J
Solid Waste Utility Stormwater Utility
Revenues by Source - Business-type Activities
For the Year Ended September 30,2003
I
I
I
i
Charges for
services
90%
Capital grants and
contributions
8%
10
Financial Analysis of the City's Funds
As noted earlier, the City uses fund accounting to ensure and demonstrate compliance with finance-related legal
requirements.
Governmental Funds
The focus of the City's governmental funds is to provide information on near-term inflows, outflows, and balances of
spendable resources. Such information is useful in assessing the City's financing requirements. In particular,
unreserved fund balance may serve as a useful measure of a government's net resources available for spending at
the end of the fiscal year. The City reports the General Fund, Special Development Fund, and Capital Improvement
Fund as major governmental funds.
The City's governmental funds for the year ended September 30, 2003, reflect a combined fund balance of $87.7
million versus $102.8 million for the prior year, a decrease of $15.1 million. A total of $49.6 million, or 56%, of this
represents unreserved fund balance, which is available for spending at the government's discretion. The remainder of
the fund balance is reserved to indicate that it is not available for new spending because it has already been
committed 1) to liquidate construction contracts and purchase orders of the prior period ($17.2 million); 2) to pay debt
service ($6.5 million); 3) for advances due from other funds ($2.0 million); or 4) for specific program purposes per
grant restrictions and related loan agreements ($12.5 million).
The General Fund is the chief operating fund of the City. At September 30, 2003, unreserved fund balance of the
General Fund totaled $12.1 million, with the remainder of the $14.7 million in fund balance reserved to indicate it has
already been committed for purchase orders of the prior period ($0.6 million) and for advances due from other funds
($2.0 million). As a measure of the general fund's liquidity it is useful to compare unreserved fund balance to total
fund expenditures. Unreserved fund balance represents 14.0% of total general fund expenditures (GAAP basis
before transfers) for the current fiscal year.
The fund balance of the City's General Fund increased by $1.0 million during the current fiscal year. This increase
was the composite result of total actual expenditures less than budgeted expenditures by $1.3 million, partially offset
by a $0.2 million excess of actual operating transfers out versus budgeted. The expenditure "savings" were spread
across numerous departments.
The fund balance of the Special Development Fund increased from $6.9 million to $10.5 million during the current
fiscal year. Key factors in the increase included the return of $1.5 million of excess funding provided to the "Town
Lake" stormwater retention pond project and $0.5 million of excess funding provided to the Community Sports
Complex Development project. The remainder of the $3.6 million increase was primarily attributable to decreased
funding of capital projects versus the previous year. Current year transfers to capital projects totaled $12.6 million
versus $15.2 million for fiscal 2002.
The Capital Improvement Fund has a total fund balance of approximately $34.5 million. The fund had a minimal
current year decrease in fund balance of $64,914.
The fund balances for Other (non-major) Governmental Funds decreased from $45.7 million to $28.1 million during
the current fiscal year. This was primarily due to capital outlay expenditures for the community sports complex ($9.4
million) and the new main library ($9.7 million).
Proprietary Funds
The City's proprietary funds provide the same type of information found in the government-wide financial statements,
but in more detail. The City reports the Water and Sewer Utility Fund, the Gas Utility Fund, the Solid Waste Utility
Fund, and the Stormwater Utility fund as major funds.
The Water and Sewer Utility Fund realized a $1.5 million increase in net assets versus a $2.4 million increase for the
prior year. Operating revenues increased 3.9% over the previous year, partially offset by a 3.3% increase in operating
11
expenses. A rate increase effective October 1, 2002 contributed to the increase in operating revenues. Operating
income of $4.5 million was negated by $6.2 million in interest expense on long term debt, partially offset by $1.0
million in investment earnings. The net loss before contributions and transfers of ($0.6) million was offset by $3.9
million in capital grants and contributions that must be used for capital purposes. Finally, transfers out of $1.7 million
resulted in a net increase in net assets of $1.5 million.
The Gas Utility Fund realized a $2.4 million increase in net assets versus a $2.6 million increase for the prior year.
Operating revenues increased by 12.2% over the prior year. However the increase in operating revenues was entirely
offset by a 14.7% increase in operating expenses versus the prior year, including a 26.8% increase in purchases for
resale.
The Solid Waste Utility Fund realized a $1.2 million increase in net assets versus a $1.5 million increase for the prior
year. Operating revenues decreased by 0.8% while operating expenses increased by 1.8%.
The Storm water Utility Fund realized an increase in net assets of approximately $4.6 million. Operating revenues
increased by 25.2%, primarily due to rate increases of approximately 35.0% effective January 1, 2002, and 16.8%
effective October 1, 2002. The increase in operating revenues was partially offset by a 17% increase in operating
expenses.
Unrestricted net assets and changes in net assets of the proprietary funds for fiscal years 2003 and 2002:
Fund
Water and Sewer Utility
Gas Utility
Solid Waste Utility
Stormwater Utility
Other funds
Totals
Unrestricted Net Assets
2003 2002
$ 25,347,874 $ 19,788,491
8,664,372 9,498,817
10,025,860 6,426,639
7,376,541 7,888,733
12,439,195 10,873,333
$ 63,853,842 $ 54,476,013
Change in Net Assets
2003 2002
$ 1,536,839 $ 2,401,311
2,405,321 2,623,123
1,244,130 1,517,507
4,590,723 4,066,075
1,175,890 2,352,206
$ 10,952,903 $ 12,960,222
General Fund Budgetary Highlights
Differences between the original budget for General Fund expenditures and the final amended budget were relatively
minor ($311,600 decrease). Key elements of this decrease are as follows:
. $400,690 decrease in non-departmental budgeted expenditures, due to the distribution of union contractual
salary increases and defined contribution pension increases that were originally budgeted at the non-
departmental level, partially offset by various related departmental increases.
. $118,180 decrease in planning department budgeted expenditures, due to a planned annexation program in
the amount of $60,180 that was not implemented, and an additional $65,000 of operating savings that was
transferred to the Special Programs special revenue fund to fund a special program project "Special Planning
Design and Evaluation".
Total actual revenues for the General Fund exceeded final budgeted revenues by $14,016 and total actual
expenditures were less than budgeted expenditures by $1.3 million. The budget savings occurred over numerous
expenditure categories.
Capital Asset and Debt Administration
Capital Assets
Capital assets include land, buildings and building improvements, improvements other than buildings, and machinery
and equipment. Capital assets also include infrastructure assets added since October 1, 2001. Infrastructure assets
acquired prior to fiscal 2002 will be added when the City retroactively implements the infrastructure portion of the new
12
financial reporting model in fiscal 2006. The infrastructure asset category includes long-lived capital assets, typically
stationary in nature, such as roads, sidewalks, and bridges. At September 30, 2003, the City had investments in
capital assets totaling $470,450,886 (net of accumulated depreciation).
City of Clearwater, Florida - Capital Assets'
Governmental Activities Business-type Activities Total
2003 2002 2003 2002 2003 2002
Land $ 45,288,886 $ 41,609,748 $ 26,013,359 $ 19,181,869 $ 71 ,302,245 $ 60,791,617
Buildings 39,432,666 29,039,587 16,089,369 14,566,372 55,522,035 43,605,959
Improvements Other than 36,742,325 37,783,839 198,633,462 188,195,941
Buildings 235,375,787 225,979,780
Machinery and 27,505,002 24,705,847 3,842,388 3,255,711
EQuioment 31,347,390 27,961,558
Infrastructure 2,171,728 1,076,247 2,171,728 1,076,247
Construction in progress 30,440,628 11,550,775 44,291,073 47,205,107 74,731,701 58,755,882
Total $ 181,581,235 $ 145,766.043 $ 288,869,651 $ 272,405,000 $ 470,450,886 $ 418,171,043
. Net of accumulated depreciation
Net capital assets for the City's governmental activities increased from $145.8 million to $181.6 million, reflecting an
increase of $35.8 million for the current fiscal year. Key components of this increase include:
. A total of $11.6 million in construction in progress expenditures towards construction of a new community
sports complex to include a spring training stadium for the Philadelphia Phil lies major league baseball
organization.
. Expenditures of $9.4 million towards construction of a new main library, currently classified as construction in
progress.
. An increase of $5.8 million in buildings due to the fiscal 2003 receipt of the donated Long Center recreation
complex to be owned and operated by the City.
. An increase of $1.9 in land representing the acquisition of 4.34 acres of land previously known as Bayview
Park.
Net capital assets for the City's business-type activities increased by $16.5 million from $272.4 million to $288.9
million during the current fiscal year. Included in this increase were water and sewer system improvements and
buildings in the amounts of $10.8 million and $2.2 million, respectively, primarily due to planned system improvements
funded from the Water and Sewer Revenue Bonds, Series 2002. These improvements include expansion of the
reclaimed water program; continued renewal and replacement as needed of the water, wastewater collection, and
water pollution control systems; and upgrading of the water pollution control system to meet regulatory requirements.
Also contributing to the increase in net capital assets for business-type activities were land additions for the
stormwater system, including the purchase of the Kapok Mobile Home Park land in the amount of $3.5 million and the
transfer of land from governmental activities in the amount of $1.3 million for the "Town Lake" stormwater retention
pond.
Additional information on the City's capital assets can be found in Note III (C) on pages 47-48 of this report.
Long-term debt
The City's total long-term debt decreased by $7.7 million, from $291.9 million to $284.2 million, or a decrease of 2.7%
for the current fiscal year. Key factors in this decrease included:
. Revenue bond principal debt service payments in the amount of $11.9 million per debt service schedules,
partially offset by a $2.5 million capital appreciation increase in the Water and Sewer Refunding Revenue
Bonds, Series 1998 (capital appreciation bonds in the amount of $43.6 million).
. An increase of $1.5 million in claims payable due to a $1.7 million increase in actuarial reserves for workers
compensation claims, partially offset by a $0.2 million decrease in actuarial reserves for general liability and
automobile liability claims.
13
The City's bonded debt as of September 30, 2003, consists entirely of revenue bonds (secured solely by specified
revenue sources) with no general obligation debt or special assessment debt outstanding. Governmental activities
revenue bonds totaled $67.4 million while business-type activities totaled $182.4 million.
All revenue bond issues of the City have received an insured rating of either AAA by Standard & Poor's or Fitch, or
Aaa by Moody's.
The City's Charter limits legal indebtedness to twenty percent of the assessed valuation of non-exempt real estate.
The current debt limitation is in excess of $1.0 billion, which is significantly in excess of the City's legal indebtedness
at September 30, 2003.
Additional information on the City's long-term debt can be found in Note III (F) on pages 53-56 of this report.
Economic Factors And Year 2004 Budgets and Rates
Factors considered in preparing the City of Clearwater's budget for fiscal year 2004 included:
. The unemployment rate for the Tampa Bay metropolitan area for September 2003 was 4.5%, an increase of
0.1% from the 4.4% rate for September 2002. The national rate for September 2003 was 6.1% versus 5.6%
for September 2002.
. Total taxable assessed values for the City of Clearwater increased 9.6% for fiscal 2004.
. Health insurance costs for City employees are budgeted to increase 23% over the fiscal 2003 budget,
resulting in a $1.3 million cost increase for the General Fund.
. Property and liability insurance costs are budgeted to increase by 27%, or $1.1 million Citywide.
. Budgeted Water and Sewer utility revenues for 2004 reflect a 7% rate increase effective October 1, 2003,
while fiscal 2004 budgeted Stormwater utility revenues reflect a 12% rate increase effective October 1, 2003.
~
Contacting the City's Financial Management
This financial report is designed to provide a general overview of the City's finances for all those with an interest in its
finances and to show the City's accountability for the money it receives. Questions concerning any of the information
provided in this report or requests for additional financial information should be addressed to The City of Clearwater,
Finance Department, 100 S. Myrtle Avenue, Clearwater, Florida 33756-5520.
.,
14
Basic Financial Statements
15
City of Clearwater, Florida
Statement of Net Assets
September 30, 2003
Primary Government Component Unit
Clearwater
Downtown
Governmental Business-type Development
Activities Activities Total Board
ASSETS
Cash and cash equivalents $ 133,476,038 $ 27,828,580 $ 161,304,618 $ 204,972
Restricted cash and investments 13,940,625 13,940,625
Investments 1,475,635 1,475,635
Total receivables (net) 49,012,877 8,726,352 57,739.229 204,507
Internal balances (26,137,910) 13,599,875 (12,538,035)
Due from other governments 4,922,172 446,962 5,369,134
Prepaid items 623,851 3,999 627,850
Inventories 236,489 969,825 1 ,206,314
Deferred charges 553,953 1,419,826 1,973.779
Net pension asset 19,824,067 6,008,467 25,832,534
Restricted assets:
Cash and cash equivalents 51,052,722 51,052,722
Investments 9,530 9,530
Internal balances 12,538,035 12,538,035
Due from other governments 1,515,391 1,515,391
Capital assets:
Land 45,288,886 26,013,359 71,302,245
Buildings 39,432,666 16,089,369 55,522,035
Improvements other than buildings 36,742,325 198,633,462 235,375,787
Machinery and equipment 27,505,002 3,842,388 31.347.390
Infrastructure 2,171,728 2.171,728
Construction in progress 30,440,628 44,291,073 74,731,701
Total assets 365,568,407 426,929,840 792,498,247 409.479
LIABILITIES
Accounts payable and other current liabilities 5,381,768 2,343,559 7,725,327 2,938
Accrued liabilities 1,590,982 500,051 2,091,033
Accrued interest payable 729,033 68,649 797,682
Due to other governments 1,136,340 135,000 1,271,340
Deposits 3,160 134,532 137,692
Deferred revenue and liens 38,781,722 4,194 38,785,916 204,507
Payable from restricted assets:
Construction contracts payable 1,945,459 1,945,459
Accrued interest payable 1,886,637 1,886,637
Customers deposits 4,054,001 4,054,001
Non-current liabilities due within one year:
Compensated absences 625,283 137,280 762,563
Loans and leases payable 4,108,085 595,302 4,703,387 7,848
Revenue bonds payable 6,065,178 7,824,821 13,889,999
Claims payable 3,678,100 3,678,100
Long-term debt and liabilities:
Compensated absences 5,690,700 1,249,391 6,940,091
Loans and leases payable 7,563,332 1,479,541 9,042,873 78,483
Revenue bonds payable 61,383,719 174,565,589 235,949,308
Claims payable 9,278,382 9,278,382
Total liabilities 146,015,784 196,924,006 342,939,790 293,776
NET ASSETS
Invested in capital assets, net of related debt 103,014,874 105,824,224 208,839,098
Restricted for:
Capital projects 14,720,927 4,296,878 19,017,805
Debt service 6,467,996 9,855,408 16,323,404
Renewal and replacement 13,251,951 13,251,951
Employees' pension benefits 19,824,067 6,008,467 25,832,534
Other purposes 12,925,954 12,925,954
Unrestricted 62,598,805 90,768,906 153,367,711 115,703
Total net assets $ 219,552,623 $ 230,005,834 $ 449,558,457 $ 115,703
The notes to the financial statements are an integral part of this statement.
16
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City of Clearwater, Florida
Balance Sheet
Governmental Funds
September 30, 2003
Special Capital Other Totals
General Development Improvement Governmental Governmental
Fund Fund Fund Funds Funds
ASSETS
Cash on hand and in banks $ 21,475 $ $ $ 100 $ 21.575
Equity in pooled cash and investments 10,563,006 8,369,379 67,989,184 19,137,352 106,058,921
Receivables (net where applicable, of allowances
for estimated uncollectible amounts):
Accounts and contracts 281,393 281,393
Mortgages, notes and other loans 7,500 9,696,154 9,703,654
Improvement liens 35,880 35,880
Rehabilitation advances 69,014 69,014
Property taxes 34,978,151 2,234,781 37,212,932
Other 1,448,617 259,728 1,708,345
Due from other funds 2,088 2,088
Due from other funds (deficit in pooled cash) 750,675 750,675
Due from other governmental entities 2,224,350 2,278,610 419,212 4,922,172
Investments 1,475,635 1,475,635
Land held for resale 998,342 998,342
Inventories, at cost 15,998 15,998
Advances to other funds 2,000,000 2,000,000
Total assets $ 51,532,990 $ 12,890,270 $ 68,777,827 $ 32,055,537 $ 165,256,624
LIABILITIES
Accounts and contracts payable $ 134,666 $ $ 2,255,739 $ 2,230,896 $ 4,621,301
Accrued payroll 1,398,853 15,421 1,414,274
Due to other funds 24,925 31,968,548 120,402 32,113,875
Due to other funds (deficit in pooled cash) 679,092 679,092
Due to other governmental entities 6,099 193,179 215 199,493
Deposits 3,160 3,160
Construction escrows 510,372 510,372
Deferred revenue 35,247,346 2,234,781 87,289 37,569,416
Deferred assessment liens 35,880 35,880
Advances from other funds 24,925 361,204 386,129
Total liabilities 36,839,974 2,427,960 34,260,167 4,004,891 77,532,992
FUND BALANCES
Reserved for:
Encumbrances 618,417 14,520,675 2,021,592 17,160,684
Debt service requirements 6,467,996 6,467,996
Advances and notes 2,000,000 7,500 9,506,257 11,513,757
Grant programs 3,030,431 3,030,431
Unreserved, reported in:
General fund 12,074,599 12,074,599
Special revenue funds 10,454,810 4,744,343 15,199,153
Debt service funds 30,434 30,434
Capital projects funds 19,996,985 2,249,593 22,246,578
Total fund balances 14,693,016 10,462,310 34,517,660 28,050,646 87,723,632
Total liabilities and fund balances $ 51,532,990 $ 12,890,270 $ 68,777,827 $ 32,055,537 $ 165,256,624
The notes to the financial statements are an integral part of this statement.
18
City of Clearwater, Florida
Reconciliation of the Balance Sheet of Governmental Funds
to the Statement of Net Assets
September 30, 2003
Total fund balances of governmental funds
Capital assets used in governmental activities are not financial resources, therefore,
are not reported in the funds. The cost of the assets was $264,143,147, and the
accumulated depreciation is $82,561,912.
Total capital assets for governmental activities
Less: Land included in governmental funds as "Land Held for Resale"
The net pension asset related to governmental activities does not represent financial
resources and is not reported in the funds.
Accrued general long-term debt interest expenses are not financial uses and, therefore,
are not reported in the funds.
Accrued arbitrage rebate payable expenses are not financial uses and, therefore,
are not reported in the funds.
Special assessment liens receivable are not financial resources in the current period
and, therefore, are reported as deferred revenues in the funds.
The assets and liabilities of the internal service funds (funds used to charge the costs of
certain activities to individual funds) are included in the governmental activities
in the statement of net assets.
Net assets of internal service funds
Less: Capital assets included in total governmental capital assets above
Less: Net pension asset included in total governmental net pension asset above
Add: Capital lease purchases payable included in total governmental below
Add: Compensated absences included in total governmental below
Add: Adjustment to reflect the consolidation of internal service fund activities
related to enterprise funds
Interest revenues are not recognized in the current period because the resources are
not available, therefore, are not reported in the funds.
Long-term liabilities, including bonds payable, are not due and payable in the current
period and accordingly are not reported in the funds.
Long-term liabilities at year-end consist of:
Bonds payable
Less: Deferred charge on refunding (to be amortized as interest expense)
Less: Deferred charge for issuance costs (to be amortized over life of debt)
Less: Issuance discount (to be amortized as interest expense)
Add: Issuance premium (to be amortized as a reduction of interest expense)
Capital lease purchases payable
Compensated absences
Total net assets of governmental activities
The notes to the financial statements are an integral part of this statement.
19
$181,581,235
(998,342)
28,776,208
(17,324,285)
(2,092,892)
8,431,658
501,006
(358,979)
(66,914,826)
386,595
553,952
46,321
(966,985)
(11,671,416)
(6,315,985)
$ 87,723,632
180,582,893
19,824,067
(729,033)
(936,847)
35,880
17,932,716
1,659
(84,882,344)
$ 219,552,623
City of Clearwater, Florida
Statement of Revenues, Expenditures, and Changes in Fund Balances
Governmental Funds
For the Year Ended September 30, 2003
Special Capital Other Total
General Development Improvement Governmental Governmental
Fund Fund Fund Funds Funds
REVENUES
Taxes:
Property taxes $ 31,890,991 $ 2,036,399 $ $ $ 33,927,390
Franchise fees 7,139,648 7,139,648
Utility taxes 10,362,861 10,362,861
Licenses, permits, and fees 3,852,704 985,503 4.838,207
Intergovernmental:
Sales tax 5,867.258 8,661,615 14.528,873
Communications services tax 7,018,557 7,018,557
Other intergovernmental 8,809,392 1,281,729 824,675 9,137,215 20,053,011
Charges for services 9,999,606 471,755 10,471,361
Fines and forfeitures 1,493,228 584,405 2,077,633
Interest income 539,066 720,600 95,619 953,557 2,308,842
Miscellaneous 651 ,235 401,679 2,044,644 3,097,558
Total revenues 87,624,546 13,685,846 1 ,321.973 13,191 ,576 115,823,941
EXPENDITURES
Current:
General government 10,195,640 344,549 45,833 10,586,022
Public safety 46,077,098 95,642 1,988,784 48,161,524
Physical environment 2,130,815 15,118 143,317 2,289,250
Transportation 6,100,511 572,363 6,672,874
Economic environment 1,764,219 49,710 2,493,394 4,307,323
Human services 449,179 127,128 576,307
Culture and recreation 19,298,976 1,181,141 1,771,484 22,251,601
Debt service:
Principal 6,921,305 6,921,305
Interest & fiscal charges 3,142.184 3,142,184
Bond issuance costs 4,335 4,335
Capital outlay 12,431 ,203 19,840,504 32,271 ,707
Total expenditures 86,016,438 14,689,726 36,478,268 137,184,432
Excess (deficiency) of revenues
over I (under) expenditures 1 ,608,108 13,685,846 (13,367,753) (23,286,692) (21,360,491 )
OTHER FINANCING SOURCES (USES)
Transfers in 5,000,086 2,488,401 13,998,386 7,754,600 29,241,473
Transfers out (7,618,557) (12,595,171 ) (1,346,993) (3,025,587) (24,586,308)
Sale of capital assets 925,000 925,000
Long term debt issued 651 ,446 651 ,446
Total other financing sources (uses) (2,618,471 ) (10.106,770) 13,302,839 5,654,013 6,231,611
Net change in fund balances (1,010,363) 3,579,076 (64,914) (17,632,679) (15,128,880)
Fund balances - beginning 15,703,379 6,883,234 34,582,574 45,683,325 102,852,512
Fund balances - ending $ 14,693,016 $ 10,462,310 $ 34,517,660 $ 28,050,646 $ 87,723,632
The notes to the financial statements are an integral part of this statement.
20
City of Clearwater, Florida
Reconciliation of the Statement of Revenues, Expenditures, and
Changes in Fund Balances of Governmental Funds
to the Statement of Activities
For the Year Ended September 30, 2003
Net change in fund balances - total governmental funds
Amounts reported for governmental activities in the Statement of Activities are different because:
Governmental funds report capital outlays as expenditures while governmental activities report
depreciation expense to allocate those costs over the life of the assets. This is the amount by
which capital outlays exceeded depreciation in the current period.
Expenditures for capital assets
Less current year depreciation
In the Statement of Activities the loss on disposition of capital assets is reported. The loss is not
a use of current resources and thus is not reported in the funds.
Loan proceeds provide current financial resources to governmental funds; however issuing debt
increases long-term liabilities in the Statement of Net Assets. In the current year these amounts are:
Capital lease proceeds
Some expenditures and other financing sources (uses) of the governmental funds are deferred
and amortized In relation to the related debt in the Statement of Activities:
Issuance costs for revenue bonds issued during prior year
Repayment of long term debt principal is an expenditure in the governmental funds, however the
repayment reduces long-term liabilities in the Statement of Net Assets. Current year amounts are:
Revenue bond principal payments
Capital lease principal payments
Net pension asset is not a current financial resources and consequently is not reported in the
funds. However it is an asset in the Statement of Net Assets.
Current year change in the net pension asset
Some expenses reported in the Statement of Activities do not require the use of current financial
resources and therefore are not reported as expenditures in the governmental funds.
Current year change in compensated absences
Amortization of deferred charge on refunding
Amortization of issuance costs
Amortization of bond discounts and premiums
Current year change in accrued arbitrage rebate payable
Current year change in accrued interest expense
Special assessment revenues are deferred until collected in the governmental funds. The
revenues collected in the current year were prior year revenues in the Statement of Activities.
Current year change in interest revenues that will not be collected for several months after the
fiscal year and are not accrued in the governmental funds.
The net revenues of internal service funds (funds used to charge the costs of certain activities
to individual funds) for governmental activities are reported in the Statement of Activities but not
in the governmental funds.
Total net assets of governmental activities
The notes to the financial statements are an integral part of this statement.
21
$ 40,921,178
(6,317,134)
5,596,132
1,325,173
(92,435)
(27,587)
(95,283)
184,465
(936,847)
15,738
$ (15,128,880)
34,604,044
(619,731)
(651,446)
4,335
6,921,305
2,999,964
(951,949)
(50,921 )
(10,339)
572,169
$ 27,688,551
City of Clearwater, Florida
Statement of Revenues, Expenditures, and Changes In Fund Balances -
Budget and Actual (Non-GAAP Budgetary Basis)
General Fund
For the Year Ended September 30, 2003
Variance with
Budgeted Amounts Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES
Taxes:
Property taxes $ 31,385,360 $ 31,881,700 $ 31,890,991 $ 9,291
Franchise fees 6,891,660 7,066,660 7,139,648 72,988
Utility taxes 9,958,970 10,365,070 10,362,861 (2,209)
Licenses, permits, and fees 3,282,610 3,637,610 3,852,704 215,094
Intergovernmental:
Sales tax 5,850,000 5,826,000 5,867,258 41,258
Communications services tax 8,123,940 7,058,940 7,018,557 (40,383)
Other intergovernmental 9,108,270 8,667,000 8,809,392 142,392
Charges for services 10,275,930 9,932,270 9,999,606 67,336
Fines and forfeitures 1,574,130 1,509,290 1 ,493,228 (16,062)
Interest income 869,900 869,900 539,066 (330,834)
Miscellaneous 867.550 796.090 651 .235 (144.855)
Total revenues 88,188,320 87,610,530 87,624,546 14,016
EXPENDITURES
Current:
General government
City Commission 263,850 263,850 236,454 27,396
City Manager's Office 698,720 707,140 674,135 33,005
City Attorney's Office 1,354,850 1,411,790 1,397,318 14,472
Official Records & Legislative Services 1,109,170 1,115,650 1,017,588 98,062
Public Communications 890,600 893,320 786,203 107,117
Finance 1,942,630 1,892,300 1,816,354 75,946
Human Resources 1,212,310 1,216,540 1,167,626 48,914
Non-Departmental 2,215,560 1,814,870 1 ,576,239 238,631
Public Works Administration 79,469 80,143 78,800 1,343
Planning 1,158,920 1,040,740 1.017,659 23,081
City Auditor's Office 128,790 128,790 128,068 722
Office of Management & Budget 284,970 284,970 280,951 4,019
Total general government 11 ,339,839 10,850,103 10,177,395 672,708
Public safety
Police 28,069,480 28,106,180 28,113,728 (7,548)
Fire 15,078,030 15,023,850 14,932,909 90,941
Development & Neighborhood Services 2,782,963 2,857,975 2,822,192 35,783
Total public safety 45,930,473 45,988,005 45,868,829 119,176
Physical environment
Public Works Administration 2,145,678 2,163,854 2,127,615 36,239
Total physical environment 2,145,678 2,163,854 2,127,615 36,239
Transportation
Public Works Administration 6,143,063 6,195,103 6,091 ,350 103,753
Total transportation 6,143,063 6,195,103 6,091,350 103,753
Economic environment
Economic Development 1,537,180 1,617,960 1,544,691 73,269
Development & Neighborhood Services 192,857 198,055 195,576 2,479
Total economic environment 1,730,037 1,816,015 1 ,740,267 75,748
Human services
Equity Services 482,650 485,580 446,679 38,901
Total human services 482,650 485,580 446,679 38,901
Culture and recreation
Parks and Recreation 14,941,850 14,897,270 14,648,907 248,363
Library 4,033,620 4,113,930 4,040,605 73,325
Marine & Aviation 486,280 412,030 473,601 J61 ,571)
Total culture and recreation 19,461,750 19,423,230 19,163,113 60,117
Totai expenditures (budgetary basis) 87,233,490 86,921,890 85,615,248 1 ,306,642
Excess of revenues over expenditures (budgetary basis) 954,830 688,640 2,009,298 1,320,658
OTHER FINANCING SOURCES (USES)
Transfers in 4,440,370 5,000,810 5,000,086 (724)
Transfers out (6,003,100) (7.809,450) (7 ,618,557) 190,893
Total other financing sources (uses) (budgetary basis) (1 ,562,730) (2,808,640) (2,618,471 ) 190,169
Excess (deficiency) of revenues and other financing sources (607,900)
over expenditures and other financing uses (budgetary basis) (2,120,000) (609,173) 1,510,827
Encumbered purchase orders, beginning of year (1 ,019,607) (1,019,607)
Encumbered purchase orders, end of year 618,417 618,417
Excess (deficiency) of revenues and other financing sources (607,900) (2,120,000)
over expenditures and other financing uses (GAAP basis) (1,010,363) 1,109,637
Fund balances - beginning 15,703,379 15,703,379 15,703,379
Fund balances - ending $ 15,095,479 $ 13,583,379 $ 14,693,016 $ 1,109,637
The notes to the financial statements are an integral part of this statement.
22
City of Clearwater, Florida
Statement of Revenues, Expenditures, and Changes in Fund Balances.
Budget and Actual (GAAP Basis)
Special Development Fund
For the Year Ended September 30, 2003
Variance with
Budgeted Amounts Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES
Taxes $ 2,003,450 $ 2,003,450 $ 2,036,399 $ 32,949
Licenses, permits, and fees 595,370 932,520 985,503 52,983
Intergovernmental 12,049,050 12,769,050 9,943,344 (2,825,706)
Interest income 500,000 500,000 720,600 220,600
Total revenues 15,147,870 16,205,020 13,685,846 (2,519,174)
EXPENDITURES
Total expenditures
Excess of revenues over expenditures 15,147,870 16,205,020 13,685,846 (2,519,174)
OTHER FINANCING SOURCES (USES)
Transfers in 2,488,401 2,488,401
Transfers out (15,077,040) (15,721,740) (12,595,171 ) 3,126,569
Total other financing sources (uses) (15,077,040) (13,233,339) (10,106,770) 3,126,569
Deficiency of revenues and other sources
over expenditures and other uses 70,830 2,971,681 3,579,076 607,395
Fund balances. beginning 6,883,234 6,883,234 6,883,234
Fund balances. ending $ 6,954,064 $ 9,854,915 $ 10,462,310 $ 607,395
The notes to the financial statements are an integral part of this statement.
23
ASSETS
Current assets:
Cash on hand and in banks
Equity in pooled cash and investments
Accounts and contracts receivable:
Billed
Unbilled charges estimated
City of Clearwater, Florida
Statement of Net Assets
Proprietary Funds
September 30, 2003
Business-type
Enterprise
Water
and Sewer Gas Solid Waste
Utility Utility Utility
$ 400 $ 700 $ 200
11,901,971 2,058,963 7,523,840
2,382,150 1,129,498 928,740
1,221,500 1,143,900 600,001
3,603,650 2,273,398 1,528,741
(257,404) (68,668) (38,478)
3,346,246 2,204,730 1 ,490,263
2,517,801 5,257,284 1,873,231
446,962
502,014 448,793
3,999
18,719,393 9,970,470 10,887,534
10,193,625 1,491,578 797,013
10,193,625 1,491,578 797,013
28,913,018 11 ,462,048 11,684,547
Less: Allowance for uncollectable accounts
Total receivables. net
Due from other funds
Due from other govemmental entities
Inventories, at cost
Prepaid expenses and other assets
Total current assets. unrestricted
Current assets - restricted:
Restricted equity in pooled cash and investments
Investments
Total current assets - restricted
Total current assets
Noncurrent assets:
Restricted:
Equity in pooled cash and investments
Due from other funds
Investments
Due from other governmental entities
Interest receivable
Deferred charges
Advances to other funds
Net pension asset
Capital assets:
Land and other nondepreciable assets
Capital assets, net of accumulated depreciation
Total noncurrent assets
Total assets
38,219,391
5,037,015
300,001
1,515,391
817,828
291,5n
2,312,588
1,269,244
1,335,768
41,997,231
146,493,651
236,393,095
265,306,113
351,034
35,848,407
38,060,263
49,522,311
1,041,913
2,456,505
4,834,186
16.518,733
The notes to the financial statements are an integral part of this statement.
24
Activities
Funds Governmental
Activities -
Stormwater Other Internal Service
Utility Funds Total Funds
$ $ 23,067 $ 24,367 $ 1,900
2,707,506 3,683,516 27,875,796 27,322,059
485,772 346,620 5,272,780
755,000 119,823 3,840,224
1,240,772 466,443 9,113,004
(19,239) (2,863) (386,652)
1,221,533 463,580 8,726,352
3,126,561 5,409,960 18,184,837 1,895,803
446,962
19,018 969,825 220,491
3,999 618,058
7,055,600 9,599,141 56,232,138 30,058.311
1,441,456 16,817 13,940,489
136 136
1,441,456 16,953 13,940,625
8,497,056 9,616,094 70,172,763 30,058,311
(Continued)
25
City of Clearwater, Florida
Statement of Net Assets (Continued)
Proprietary Funds
September 30, 2003
LIABILITIES
Current liabilities:
Accounts and contracts payable
Accrued payroll
Accrued interest payable
Due to other funds
Due to other funds - deficit in pooled cash
Due to other governmental entities
Deposits
Deferred revenue and liens
Current portion of long-term liabilities:
Compensated absences
Revenue bonds
Notes, loan pool agreement and acquisition contracts
Claims payable
Total current liabilities (payable from current assets)
Current liabilities (payable from restricted assets):
Construction contracts payable
Accrued interest payable
Current portion of long-term liabilities, revenue bonds
Customer deposits
Total current liabilities payable from restricted assets
Total current liabilities
Noncurrent liabilities:
Compensated absences
Revenue bonds (net of unamortized discounts and
deferred amount on refunding)
Notes, loan pool agreement and acquisition contracts
Advances from other funds
Claims payable
Total non-current liabilities
Total liabilities
Net assets:
Invested in capital assets, net of related debt
Restricted for:
Revenue bond debt service and sinking fund requirements
Revenue bond renewal and replacement requirements
Water and sewer impact fees
Employees' pension benefits
Unrestricted
Total net assets
Business-type
Enterprise
Water
and Sewer
UtIlIty
747,329
184,291
40,691
135,000
43,621
1,095,833
134,169
2,380,934
1,632,874
1,141,182
5,479,167
1,940,402
10,193,625
12,574,559
397,005
117,780,070
325,966
118,503,041
131,077,600
79,473,208
9,846,014
12,951,951
4,296,878
2,312,588
25,347,874
134,228,513 $
Gas
UtIlIty
922.921
100,153
27,958
30,655
600,417
1,682,104
120,410
54,583
1,316,585
1,491,578
3,173,682
278,995
25,910,212
26,189,207
29,362,889
9,925,806
300,000
1,269,244
8,664,372
20,159,422 $
Adjustment to reflect the consolidation of internal service fund activities related to enterprise funds
Net assets of business-type activities
$
The notes to the financial statements are an integral part of this statement.
26
Solid Waste
UtIlIty
369.282
106,903
82,474
36,355
50,719
645,733
18,268
797,014
815,282
1,461,015
330,865
99,068
742,263
1,172,196
2,633,211
2,523,894
1,335,768
10,025,860
13,885,522
Activities
Funds Governmental
Activities.
Stormwater Other Internal Service
Utility Funds Total Funds
38,517 265,510 2,343,559 250,095
40,101 68,603 500,051 176,708
68,649
59,602 142,076 364,812
71,583 71,583
135,000
134,532 134,532
4,194 4,194 1,212,306
13,573 13,076 137,280 49,599
47,500 8,274 1,752,024
198,071 212,343 595,302 2,703,946
3,678,100
337,762 837,717 5,884,250 8,435,566
312,585 1,945,459
606,371 406 1,886,637
522,500 16,547 6,072,797
4,054,001
1,441 ,456 16,953 13,958,894
1,779,218 854,670 19,843,144 8,435,566
123,531 118,995 1,249,391 451,407
30,821,534 53,773 174,565,589
496,854 557,653 1,479,541 5,727,712
4,059,602 4,801,865 824,882
9,278,382
31,441,919 4,790,023 182,096,386 16,282,383
33,221,137 5,644,693 201,939,530 24,717,949
24.111,696 16,345,705 132,380,309 8,892,627
9,394 9,855,408
13,251,951
4,296,878
473,297 617,570 6,008,467 2,092,892
7,376,541 12,439,195 63,853,842 17,790,689
$ 31,961,534 $ 29,411,864 229,646,855 $ 28,776,208
358,979
$ 230,005,834
27
City of Clearwater, Florida
Statement of Revenues, Expenses, and Changes in Fund Net Assets
Proprietary Funds
For the Year Ended September 30, 2003
Operating revenues:
Sales to customers
Service charges to customers
User charges to customers
Billings to departments
Rentals
Total operating revenues
Business-type
Enterprise
Water
and Sewer Gas Solid Waste
Utility Utility Utility
$ 38,639,890 $ 28,226,159 $ 15,696,878
485,228 1,534,805 96,645
39,125,118 29,760,964 15.793,523
7,283,595 4,053,181 4,428,453
6,103,150 13,494,849 149
1,840,133 128,982 330,421
690,357 492,089 2,655,739
1,591,969 74,587 60,635
4,893,497
4,972,309 1,427,298 225,112
5,113,190 1,861,820 1,143,710
1,760,814 206,474 10,073
570,771 5,230
127,429 140,344 53,496
4.295
241,670 140,775 140,810
4,054,401 239,493 66,472
58,826 4.103
352,817 110,668 36,289
406,250 319,100 135,430
1,764,641
44,759 68,541 19,833
6,988,140 3,623,928 471,736
34,582,843 25,156,734 14,209,452
4,542,275 4,604,230 1,584.071
Operating expenses:
Personal services
Purchases for resale
Operating materials and supplies
Transportation
Utility service
Dumping charges
Depreciation
Interfund administrative charges
Other current charges:
Professional fees
Advertising
Communications
Printing and binding
Insurance
Repairs and maintenance
Rentals
Miscellaneous
Data processing charges
Taxes
Provision for estimated uncollectable accounts
Total other current charges
Total operating expenses
Operating income (loss)
The notes to the financial statements are an integral part of this statement.
28
(Continued)
29
City of Clearwater, Florida
Statement of Revenues, Expenses, and Changes in Fund Net Assets (Continued)
Proprietary Funds
For the Year Ended September 30, 2003
Business-type
Enterprise
Water
and Sewer Gas Solid Waste
Utility Utility Utility
Nonoperating revenues (expenses):
Earnings on investments 1,035,821 307,861 238,889
Interest expense (6,166,544) (1,413,358) (54,180)
Amortization of bond discount and issue costs (77,336) (121,986)
Gain (loss) on exchange of assets (45,857) (832)
Other 82,324 302,924 181,000
Total nonoperating revenue (expenses) (5,171,592) (925,391) 365,709
Income before contributions and transfers (629,317) 3,678,839 1,949,780
Capital grants and contributions 3,912,704
Transfers in 880
Transfers out (1,746,548) (1,274,398) (705,650)
2,166,156 (1,273,518) (705,650)
Changes in net assets 1,536,839 2,405,321 1,244,130
Total net assets - beginning 132,691,674 17,754,101 12,641,392
Total net assets - ending $ 134,228,513 $ 20,159,422 $ 13,885,522
Adjustment to reflect the consolidation of internal service fund activities related to enterprise funds
Change in net assets of business-type activities (page 17)
The notes to the financial statements are an integral part of this statement.
30
Activities
Funds Governmental
Activities -
Storm water Other Internal Service
Utility Funds Total Funds
174,806 390,501 2,147,878 845,052
(1,227,527) (162,176) (9,023,785) (314,164)
(17,360) (991) (217,673)
(29,991) (9,708) (86,388) 79,578
31,395 217,118 814,761 238,599
(1,068,677) 434,744 (6,365,207) 849,065
1,611,787 378,991 6,990,080 (138,579)
4,925,142 568,196 9,406,042 67,722
625,050 625,930 788,054
(1,946,206) (396,347) (6,069,149)
2,978,936 796,899 3,962,823 855,776
4,590,723 1,175,890 10,952,903 717,197
27,370,811 28,235,974 28,059,011
$ 31,961,534 $ 29,411,864 $ 28,776,208
145,028
$ 11,097,931
31
City of Clearwater, Florida
Statement of Cash Flows
Proprietary Funds
For the Year Ended September 30, 2003
Business-type
Enterprise
Water
and Sewer Gas Solid Waste
Utility Utility Utility
CASH FLOWS FROM OPERATING
ACTIVITIES
Cash received from customers $ 38,926,767 $ 29,711,982 $ 15,752,879
Cash received from other funds
Cash payments to suppliers (14,342,310) (16,468,694) (5,392,147)
Cash payments to employees (7,747,777) (4,583,105) (4,636,724)
Cash payments to other funds (6,992,323) (3,057,141) (4,129,185)
Other revenues 82,324 302,924 166,301
Net cash provided by operating activities 9,926,681 5,905,966 1,761,124
CASH FLOWS FROM NONCAPITAL
FINANCING ACTIVITIES
Transfers from other funds 880
Transfers to other funds (1,746,548) (1,274,398) (705,650)
Grant revenue 14,699
Receipt of cash on loans to/from other funds 476,508
Payment of cash on loans to/from other funds (1,470,236) (269,833)
Net cash provided (used) by
non capital financing activities (3,216,784) (797,010) (960,784)
CASH FLOWS FROM CAPITAL AND
RELATED FINANCING ACTIVITIES
Principal payments on debt (5,542,468) (630,000) (39,371)
Interest paid (2,334,747) (1,422,331 ) (58,295)
Acquisition of fixed assets (16,644,212) (2,920,125) (221,822)
Sale of fixed assets
Proceeds from issuance of debt 97,555 102,961
Payment of bond issue costs 85,959
Capital contributed by:
Other governmental entities 3,804,317
Property owners 5,024
Developers 103,363
Net cash used by capital and
related financing activities (20,425,209) (4,972,456) (216,527)
CASH FLOWS FROM INVESTING
ACTIVITIES
Interest on investments 1,257,017 307,861 238,889
Proceeds from investment sales & maturities 2,916,713
Net cash provided by investing activities 4,173,730 307,861 238,889
Net increase (decrease) in cash and cash equivalents (9,541,582) 444,361 822,702
Cash and cash equivalents at beginning of year 69,856,969 3,406,881 7,498,351
Cash and cash equivalents at end of year $ 60,315,387 $ 3,851,242 $ 8,321,053
Cash and cash equivalents classified as:
Cash on hand and in banks $ 400 $ 700 $ 200
Equity in pooled cash and investments 11,901,971 2,058,963 7,523,840
Restricted equity in pooled cash and investments 48,413,016 1,791,579 797,013
Total cash and cash equivalents $ 60,315,387 $ 3,851,242 $ 8,321,053
The notes to the financial statements are an integral part of this statement.
32
625,050 625,930 848,054
(1,946,207) (396,347) (6,069,150)
14,699
30,310 71,583 578,401 1,374,666
(621,278) (1,798,650) (4,159,997) (1,500,327)
(2,537,175) (1,498,364) (9,010,117) 722,393
(299,369) (164,255) (6,675,463) (2,621,292)
(1,129,960) (162,295) (5,107,628) (314,164)
(7,239,289) (1,043,322) (28,068,770) (4,418,099)
242,462
215,898 333,456 749,870 2,727,228
119,418 205,377
4,905,737 562,796 9,272,850
19,406 24,430
103,363
(3,408,159) (473,620) (29,495,971) (4,383,865)
547,039 390,501 2,741,307 845,052
2,916,713
547,039 390,501 5,658,020 845,052
(1,815,584) (677,696) (10,767,799) 2,138,428
18,498,012 4,400,652 103,660,865 25,185,531
$ 16,682,428 $ 3,722,956 $ 92,893,066 $ 27,323,959
$ $ 23,067 $ 24,367 $ 1,900
2,707,506 3,683,516 27,875,796 27,322,059
13,974,922 16,373 64,992,903
$ 16,682,428 $ 3,722,956 $ 92,893,066 $ 27,323,959
(Continued)
33
---
City of Clearwater, Florida
Statement of Cash Flows (Continued)
Proprietary Funds
For the Year Ended September 30, 2003
Reconciliation of operating Income (loss) to
net cash provided by operating activities:
Operating income (loss)
Adjustments to reconcile operating income (loss)
to net cash provided by operating activities:
Other revenue from nonoperating section
of income statement
Depreciation
Non-cash land rental expense
Provision for uncollectible accounts
Capitalized labor and interest
Construction in process reclassified as expense
Change in assets and liabilities:
(Increase) in accounts receivable
(Increase) in amount due from other governments
(Increase) decrease in inventory
Decrease in prepaid expenses
Increase (decrease) in accounts and contracts payable
Increase in deposits payable
(Decrease) in deferred revenue
(Increase) in net pension asset
Increase in accrued payroll
Total adjustments
Net cash provided by operating activities $
Noncash investing, capital and financing activities:
Gain (loss) on exchange of assets $
Asset contributions from general government $
Asset contributions to general government $
Contributed assets per radio lease agreement $
Amortization of bond issue costs $
Amortization of discount on bond issuance $
Amortization of deferred loss on defeasance of debt $
Increase in net pension asset $
Business-type
Enterprise
Water
and Sewer
Utility
Gas
Utility
Solid Waste
Utility
$
4,542,275 $
4,604,230 $
1,584,071
82,324 302,924 166,301
4,972,309 1,427,298 225,112
44,759 68,541 (1,335)
(112,528) (391,389)
891,011
(235,233) (196,448) (52,169)
(14,865)
31,507 46,808
892
47,104 90,340 14,722
51,747 147,466 32,693
(391,281 ) (224,592) (222,398)
16,660 30,788 14,127
5,384,406 1,301,736 177,053
9,926,681 $ 5,905,966 $ 1,761,124
(45,857) $ (832) $
$ $
$ $
$ $
(78,446) $ (20,310) $
(52,848) $ (25,849) $
(225,048) $ (75,827) $
391 ,281 $ 224,592 $ 222,398
The notes to the financial statements are an integral part of this statement.
34
Activities
Funds
Stormwater
Utility
Other
Funds
Governmental
Activities -
Internal Service
Funds
Total
$
2,680,464 $
(55,753) $
13,355,287 $
(987,644)
31,396 217,118 800,063 238,599
1,046,521 1,245,245 8,916,485 3,644,365
103,498 103,498
13,236 (917) 124,284
(503,917)
220,000 1,111,011
(305,566) (40,458) (829,874)
(14,865)
7,390 85,705 (34,916)
892 921,027
(42,898) (478,613) (369,345) 1,473,063
8,493 240,399
(11 ,198) (11,198)
(85,976) (106,155) (1,030,402) (356,186)
25,534 15,137 102,246 56,540
902,247 959,540 8,724,982 5,942,492
$ 3,582,711 $ 903,787 $ 22,080,269 $ 4,954,848
$ (29,991) $ (9,708) $ (86,388) $ 86,568
$ $ 5,400 $ 5,400 $ 7,722
$ $ $ $ (6,990)
$ $ $ $ 1,101,825
$ (17,360) $ (257) $ (116,373) $
$ (25,172) $ (728) $ (104,597) $
$ $ (965) $ (301,840) $
$ 85,976 $ 106,155 $ 1,030,402 $ 356,186
35
City of Clearwater, Florida
Statement of Fiduciary Net Assets
Fiduciary Funds
September 30, 2003
Pension
Trust Agency
Funds Fund
ASSETS
Cash on hand and in banks $ 18,084 $
Equity in pooled cash and investments 8,949,488 219,776
Managed investment accounts 451,144,256
Securities lending collateral 27,627,316
Interest and dividends receivable 695,309
Securities lending earnings receivable 4,312
Accounts receivable 86,986
Total assets 488,525,751 219,776
LIABILITIES
Accounts payable 433,831
Obligations under securities lending 27,627,316
Deposits:
Property owners 21,944
Developers 10,708
Total deposits 32,652
Other miscellaneous payables:
Special purpose funds 7,559
Other 179,565
Total miscellaneous payables 187,124
Total liabilities 28,061,147 219,776
NET ASSETS
Held in trust for pension benefits and other purposes 460,464,604
Total net assets $ 460,464,604 $
The notes to the financial statements are an integral part of this statement.
36
City of Clearwater, Florida
Statement of Changes In Fiduciary Net Assets
Fiduciary Funds
For the Year Ended September 30, 2003
Pension
Trust
Funds
ADDITIONS
Contributions:
Contributions from employer $ 5,860,852
Contributions from employees 5,310,610
State of Florida 1 ,465,940
Total contributions 12,637,402
Investment Income:
Net appreciation in fair value of investments 56,818,382
Interest 6,765,991
Dividends 1,881,471
65,465,844
Less investment expenses:
Investment management / custodian fees 1 ,879,513
Net income from investing activities 63,586,331
Securities lending Income:
Gross earnings 115,269
Rebate paid (78,898)
Bank fee (12,729)
Net Income from securities lending 23,642
Total additions 76,247,375
DEDUCTIONS
Benefits and withdrawal payments:
Ben efits 17,648,994
Withdrawal payments 581,818
Total benefits and withdrawal payments 18,230,812
Income before administrative expenses 58,016,563
Administrative expenses 198,056
Net Increase 57,818,507
Net assets held in trust for pension benefits:
Beginning of year 402,646,097
End of year $ 460,464,604
The notes to the financial statements are an integral part of this statement.
37
City of Clearwater, Florida
Notes to the Financial Statements
September 30, 2003
Note I - Summary of Significant Accounting Policies
The City of Clearwater, Florida (the City) was incorporated in 1923 per Chapter 9710, Special Laws of Florida, as
amended. The City is a Florida municipal corporation governed by a five member City Commission including a mayor-
commissioner. The City has an estimated population of 109,700 and is located in the four-county Tampa-St.
Petersburg-Clearwater Metropolitan Statistical Area (MSA), which has an estimated population of 2,535,000.
The financial statements of the City of Clearwater, Florida reporting entity (City) have been prepared in accordance
with generally accepted accounting principles (GAAP) as applied to governmental units. The Governmental
Accounting Standards Board (GASB) is the standard-setting body for governmental accounting and financial
reporting. Pronouncements of the Financial Accounting Standards Board (FASB) issued after November 30, 1989,
are not applied in the preparation of the financial statements of the proprietary fund types in accordance with GASB
Statement Number 20. The GASB periodically updates its codification of the existing Governmental Accounting and
Financial Reporting standards which, along with subsequent GASB pronouncements (Statements and Interpretations)
constitutes GAAP for governmental units. The City's more significant accounting policies are described below.
In June 1999, the GASB unanimously approved "Basic Financial Statements and Management Discussion and
Analysis for State and Local Governments" (Statement #34). This statement results in the most significant change in
governmental financial reporting in over twenty years and is scheduled for a phased implementation (based on the
size of the government) starting with fiscal years ending 2002. As part of this Statement, there are new reporting
requirements for governments' infrastructure (roads, bridges, etc). The requirements permit an optional four-year
delay for retroactive implementation of the infrastructure reporting requirements to fiscal 2006. The City elected to
implement the basic model in fiscal year 2002 and to defer implementation of the retroactive infrastructure reporting to
fiscal year 2006.
A. Financial Reporting Entity
In evaluating the City as a reporting entity, management has included in the accompanying financial statements the
City of Clearwater (the primary government) and its component units, entities for which the government is considered
to be financially accountable. The City has adhered to the standards set forth in GASB Statement No. 14 in reporting
the primary government (including blended component units), discretely presented component units, the reporting
entity, and related organizations.
Blended Component Units - Component units that meet the criteria for blended presentation in accordance with
GASB Statement Number 14 are reported in a manner similar to that of the primary government itself. Accordingly,
throughout this report, data presented for the primary government includes data of the following blended component
unit. The Clearwater Redevelopment Agency (CRA), created by authority of Florida Statute Chapter 163, Part III, and
City of Clearwater Resolution 81-68, although it is legally separate, is reported as if it were part of the City (blended
component unit) due to the City Commission serving as the governing board of the CRA. Separate financial
statements for the CRA are not available. However financial statements for the CRA are included in the City's
comprehensive annual financial report as a governmental special revenue fund.
Discretely Presented Component Units - Component units that meet the criteria for discrete presentation in
accordance with GASB Statement Number 14 are presented in a separate component units column in the
government-wide financial statements in order to clearly distinguish the balances and transactions of the component
unit from those of the primary government. The discretely presented component unit listed below is reported
separately in the financial statements and in the related notes and required supplementary information. The
Clearwater Downtown Development Board (DDB) was created by authority of Florida Statutes 70-635 and 77-637,
and City Ordinance 5347-93, but is legally separate from the City and governed by a separate board. The DDB was
created by City ordinance and the City is thereby able to impose its will on the organization. Additionally the exclusion
of the DDB's activities from the City's financial statements would, in the opinion of the City's management, cause the
financial statements to be incomplete. Consequently the DDB is reported in a separate column in the government-
wide financial statements as a discretely presented component unit of the financial reporting entity, in accordance with
GASB Statement No. 14. The DDB's financial statements have been incorporated into the City's comprehensive
annual financial report as a governmental discretely presented component unit. Separate financial statements for the
DDB can be obtained from the City's Finance Department located at 100 S. Myrtle Avenue, Clearwater, Florida.
38
City of Clearwater, Florida
Notes to the Financial Statements
September 30, 2003
B. Basic Financial Statements Under the New Financial Reporting Model
The City's Basic Financial Statements contain three components: government-wide financial statements, fund
financial statements, and notes to the financial statements.
1. Government-wide financial statements. The government-wide financial statements report information on all of
the non fiduciary activities of the primary government and its component units using the accrual basis of accounting,
which is similar to the accounting used by private-sector businesses. For the most part, the effect of interfund activity
has been removed from these statements. Governmental activities, which normally are supported by taxes and
intergovernmental revenues, are reported separately from business-type activities, which rely to a significant extent
on fees and charges for support. Likewise, the primary government is reported separately from the legally separate
component unit for which the primary government is financially accountable.
The statement of net assets presents information on all of the assets and liabilities of the City. The difference
between assets and liabilities is reported as net assets. Changes in net assets may serve as an indicator of whether
the financial position of the City is improving or deteriorating.
The statement of activities demonstrates the degree to which the direct expenses of a given function or segment are
offset by program revenues. Direct expenses are those that are clearly identifiable with a specific function or segment.
Program revenues include 1) charges to customers or applicants who purchase, use, or directly benefit from goods,
services, or privileges provided by a given function or segment and 2) grants and contributions that are restricted to
meeting the operational or capital requirements of a particular function or segment. The operating grants include
operating-specific and discretionary (either operating or capital) grants while the capital grants column reflects capital-
specific grants. Taxes and other items not properly included among program revenues are reported instead as
general revenues. All revenues and expenses are reported as soon as the underlying transaction has occurred,
regardless of when cash is received or paid.
As a general rule the effect of interfund activity has been eliminated from the government-wide financial statements.
Exceptions to this general rule are payments-in-Iieu of taxes and other quasi-external charges between enterprise
funds and various other functions of the government. Elimination of these charges would distort the direct costs and
program revenues reported for the various functions concerned.
2. Fund financial statements. Separate financial statements are provided for governmental funds, proprietary
funds, and fiduciary funds, even though the latter are excluded from the government-wide financial statements. The
fund financial statements are, in substance, very similar to the financial statements presented in the previous financial
reporting model. A neW emphasis is on the major funds in either the governmental or business-type categories.
Major individual governmental funds and major individual enterprise funds are reported as separate columns in the
fund financial statements. Non-major funds (by category) are summarized into a single column.
The City reports the following major governmental funds:
The General Fund is the government's primary operating fund. It accounts for all financial resources of the general
government, except those required to be accounted for in another fund.
The Special Development fund is a special revenue fund used to account for impact fees, property taxes for road
improvements, local option gas taxes, infrastructure taxes, and other revenues which are restricted legally or by City
Commission policy to be used for specific capital improvement projects.
The Capital Improvement Fund is used to provide combined accounting presentation for all City capital improvement
projects except those financed from proprietary funds or bond proceeds where bond ordinance provisions require the
segregation of bond proceeds in separate funds.
39
City of Clearwater, Florida
Notes to the Financial Statements
September 30, 2003
The City reports the following major proprietary funds:
The Water and Sewer Utility enterprise fund is used to account for the financing, construction, operation, and
maintenance of the water and sewer services of the City from charges made to users of the service.
The Gas Utility enterprise fund is used to account for the financing, construction, operation, and maintenance of the
gas service of the City from charges made to the users of the service.
The Solid Waste Utility enterprise fund is used to account for the financing, construction, operation, and maintenance
of the solid waste service of the City from charges made to the users of the service.
The Stormwater Utility enterprise fund is used to account for the financing, construction, operation, and maintenance
of the stormwater management system of the City from charges assessed against each developed property.
Proprietary funds distinguish operating revenues and expenses from nonoperating items. Operating revenues and
expenses generally result from providing services and producing and delivering goods in connection with the
proprietary fund's principal ongoing operations. Operating expenses for proprietary funds include the cost of sales
and service, administrative expenses, and depreciation on capital assets. All revenues and expenses not meeting
this definition are reported as nonoperating revenues and expenses.
Additionally, the City reports the following fund types:
Internal service funds account for fleet management, information technology, telephone, graphics, employee relations,
facilities management, radio communications, insurance, and risk management services provided to other City
departments on a cost reimbursement basis. The Garage, Administrative Services, General Services, and Central
Insurance funds primarily benefit governmental funds and are consequently included as governmental activities.
Pension trust funds account for the financial operation and condition of the Employees' Pension Plan, the Firemen's
Relief and Pension Plan, the Police Supplemental Pension Plan, and the Firefighters Supplemental Pension Plan.
The Treasurer's Escrow Agency Fund accounts for the receipt, custody, and expenditure of monies held temporarily
in an agency capacity for other parties.
The pension trust funds and the agency fund are fiduciary funds used to account for resources held for the benefit of
parties outside the government. Fiduciary funds are not included in the government-wide financial statements
because the resources of these funds are not available to support the City's own programs.
C. Measurement Focus, Basis of Accounting, and Financial Statement Presentation
The government-wide financial statements are reported using the economic resources measurement focus and the
accrual basis of accounting, as are the proprietary fund and fiduciary fund financial statements. The agency fund
included within the fiduciary fund financial statements also uses the accrual basis of accounting but does not have a
measurement focus. Revenues are recorded when earned and expenses are recorded when a liability is incurred,
regardless of the timing of related cash flows. Property taxes are recognized as revenues in the year for which they
are levied. Grants and similar items are recognized as revenue as soon as all eligibility requirements imposed by the
provider have been met.
Governmental fund financial statements are reported using the current financial resources measurement focus and
the modified accrual basis of accounting. Revenues are recognized as soon as they are both measurable and
available. Revenues are considered to be available when they are collectible within the current period or soon enough
thereafter to pay liabilities of the current period. For this purpose, the City considers revenues to be available if they
are collected within 90 days of the end of the current fiscal year. Expenditures generally are recorded when a liability
is incurred, as under accrual accounting. However, debt service expenditures, as well as expenditures related to
compensated absences and claims and judgments, are recorded only when payment is due.
Property taxes, franchise taxes, licenses, and interest associated with the current fiscal period are all considered
susceptible to accrual and so have been recognized as revenues of the current fiscal period for the governmental
funds. All other revenue items are considered to be measurable and available only when cash is received by the City.
40
City of Clearwater, Florida
Notes to the Financial Statements
September 30, 2003
D. Assets, Liabilities, and Net Assets or Equity
1. Deposits, pooled cash, and investments
Investments with original maturities of three months or less are considered to meet the definition of cash equivalents.
The majority of the investments in which the City's funds have equity are held by the City's consolidated pool of cash and
investments. The City utilizes the consolidated cash pool to account for cash and investments of all City funds other than
those that are required by ordinance to be physically segregated. The consolidated cash pool concept allows each
participating fund to benefit from the economies of scale and improved yield that are inherent to a larger investment pool.
Formal accounting records detail the individual equities of the participating funds. The cash pool utilizes a single
checking account for all City receipts and disbursements.
Since fund equities in this cash management pool have the general characteristics of demand deposits in that additional
funds may be deposited at any time and also funds may be withdrawn at any time without prior notice or penalty, each
fund's equity account is considered a cash equivalent regardless of the maturities of investments held by the pool.
All individual fund cash equity in a deficit (overdraft) position with respect to the consolidated cash pool is reclassified
at year-end to short-term interfund payables to the Capital Improvement Fund. The Capital Improvement Fund is the
fund selected by management to reflect the offsetting interfund receivables in such cases.
The City has an agreement with its depository bank to provide that all excess cash is swept daily and automatically
into an overnight money market account which pays interest at 14 basis points (0.14%) less than the daily federal
funds rate (1.00% at September 30, 2003), with no requirement for a minimum compensating balance. This account
is collateralized through the State of Florida Public Deposits Program.
Under City Charter and the current Investment Policy, adopted by the City Commission on September 7, 1995,
consolidated cash pool investments are limited to the following: United States Government Securities, Certificates of
Deposit in Local Banks, Repurchase Agreements, Savings Account in Local Banks, Federal Government Agency
Securities, Municipal Bonds (other than City of Clearwater issues), State of Florida Bonds, and Municipal Bonds
issued by counties in Florida.
The City utilizes a very conservative investment philosophy when it invests its pooled cash funds in that the return of the
principal is more important than the return on the principal. The City does not actively trade its portfolio and generally
holds investments until maturity. Through the use of a laddered approach to maturities and by timing maturities to cash
needs, the City does not anticipate selling investments to meet cash flow requirements.
Under the City's Investment Policy, a performance measure standard has been established. The performance measure
chosen is a weighted average of: the overnight interest rate; and three month, six month, one year, and three year
Treasury rates respectively. For the fiscal year ended September 30, 2003, the performance measure weighted average
was 1.39%. The actual pooled cash earnings performance, before bank charges, was 3.32%.
Investments being held outside of the consolidated cash pool include escrowed debt service investments and
employee retirement investments. Permissible escrowed debt service investments are specifically defined in each
individual debt instrument, but generally follow the same limitations which apply to consolidated cash pool
investments. The City maintains four different employee retirement programs, and each one has its own list of
permitted investments. Generally, each plan allows the same type of investments as the consolidated cash pool, but
additionally allows some portion of its assets to be invested in stocks, bonds, and notes of corporations listed on one
or more of the recognized national stock exchanges.
2. Receivables and payables
Activity between funds that are representative of lending/borrowing arrangements outstanding at the end of the fiscal
year are referred to as either "due to/from other funds" (i.e. the current portion of interfund loans) or "advances
to/from other funds" (i.e. the non-current portion of interfund loans). All other outstanding balances between funds
are reported as "due to/from other funds." Any residual balances outstanding between the governmental activities
and business-type activities are reported in the government-wide financial statements as "internal balances".
41
City of Clearwater, Florida
Notes to the Financial Statements
September 30,2003
Advances between funds, as reported in the fund financial statements, are offset by a fund balance reserve account
in applicable governmental funds to indicate that they are not available for appropriation and are not expendable
available financial resources.
All trade and property tax receivables are shown net of an allowance for uncollectibles. Trade accounts receivable
less than 60 days are included in the trade accounts receivable allowance for uncollectibles at the five-year average
loss experience rate of 5.04%. Trade accounts receivable in excess of 60 days are reserved at 40%. The property
tax receivable allowance for uncollectibles is 10% of the current year portion of the receivable, and 30%, 50%, 70%,
90%, and 95% for the receivable portions attributable to the prior five years respectively (fiscal 2002 thru 1998), and
100% of the receivable attributable to fiscal years 1997 and prior.
Property tax revenue is recognized in the fiscal year for which the taxes are levied, provided the availability test is
met, in conformance with NCGA Interpretation No.3. Property taxes for the following fiscal year are levied by
commission action in September of each year. This levy is apportioned to property owners based on the previous
January 1 assessed values. Tax bills are mailed out on or about November 1, and the collection period runs from
November 1 through March 31. On April 1, unpaid property taxes are considered delinquent and become a lien. Tax
certificates are sold in June for real property with delinquent t~xes.
Since taxes are not collected prior to November 1, the City does not record revenue for advance collections.
Uncollected taxes receivable at year-end are recorded, with an appropriate allowance for estimated uncollectible
amounts. The net amount deemed to be collectible but not current (not expected to be collected within sixty days
after the close of the fiscal year) is shown as deferred revenue in the appropriate fund. Additionally, taxes assessed
for the following fiscal year are recorded as a receivable and as deferred revenue in accordance with Governmental
Accounting Standards Board Statement No. 33.
All delinquent property taxes, except those levied specifically for the restricted purposes of financing activities
accounted for in the Special Development Fund, are recorded in the General Fund. Property tax revenues are
recognized in the General Fund and the required transfers to the appropriate debt service or pension fund are
recorded as operating transfers from the General Fund.
The City is permitted by State law to levy ten mills without referendum. Additional millage not subject to the ten mill
limitation is authorized if approved by referendum. The tax rate of 5.7530 mills for the year ended September 30,
2003, was an increase from the September 30, 2002, rate of 5.5032 mills.
3. Inventories and prepaid items
Inventories of proprietary funds are stated at cost and valued on the first-in first-out (FIFO) basis. In governmental funds,
the majority of inventory items are accounted for under the purchases method, which provides that expenditures are
recognized when the inventory item is purchased. The only governmental fund inventory that is accounted for under the
consumption method is the General Fund inventory of items for resale at the fishing pier. Under the consumption
method, the expenditure is recognized when the inventory item is sold (or consumed).
Certain payments to vendors reflect costs applicable to future accounting periods and are recorded as prepaid items in
both government-wide and fund financial statements.
4. Restricted assets
Certain resources of the City's enterprise funds are classified as restricted assets. Restricted assets include: Water and
Sewer improvement charges restricted by the authorizing ordinances to the construction of additions and improvements
to the water and sewer systems; and assets of the Water & Sewer Utility, Gas Utility, Stormwater Utility, and Parking
System funds restricted under the provisions of authorizing ordinances for revenue bonds to the payment of future
revenue bond debt service, system construction, and renewals and replacements.
5. Capital assets
Capital assets, which include property, plant, equipment, and certain infrastructure assets, (e.g. roads, bridges, and
similar items) are reported in the applicable governmental or business-type activities columns in the government-wide
financial statements. However infrastructure assets are only reported for the current fiscal year. The City has chosen to
defer implementation of retroactive infrastructure reporting to fiscal year 2005/2006 per the implementation
42
City of Clearwater, Florida
Notes to the Financial Statements
September 30, 2003
of GASB Statement #34. Capital assets are defined by the City as assets with an initial individual cost of more than
$5,000 (amount not rounded) and an estimated useful life in excess of five years. Individual assets that cost less than
$5,000, but that operate as part of a network system, will be capitalized in the aggregate, using the group method, if
the estimated average useful life of the individual asset is five years or more. Additionally, higher thresholds for
capitalization apply to the following categories: land improvements, $50,000; buildings, building improvements, and
utility systems, $100,000; and infrastructure, $500,000. Capital assets are recorded at historical cost or estimated
historical cost if purchased or constructed. Donated capital assets are recorded at estimated fair market value at the
date of donation. The costs of normal maintenance and repairs that do not add to the value of the asset or materially
extend asset lives are not capitalized.
Major outlays for capital assets and improvements are capitalized as projects are constructed. Interest incurred
during the construction phase of capital assets of business-type activities is included as part of the capitalized value of
the assets constructed. The total interest expense incurred by business-type activities during the current fiscal year
was $8,361,416. Of this amount, ($660,128), $87,065, and ($89,306) were included as part of the cost of capital
assets under construction in connection with water & sewer, gas, and stormwater system projects, respectively.
Property, plant, and equipment of the primary government, as well as the component units, as applicable, are
depreciated using the straight-line method over the following estimated useful lives:
Assets Years
Buildings & building improvements
Public domain infrastructure
Utility system infrastructure
Land improvements
'Machinery & equipment
Vehicles
1 0-40
20-40
25-40
5-50
5-33
5-10
6. Compensated absences
It is the City's policy to permit employees to accumulate earned but unused vacation and sick pay benefits. Generally
employees may accumulate vacation time not exceeding 360 hours and sick leave not exceeding 1,560 hours. Upon
retirement from City service a qualified employee is paid for all vacation time not exceeding 360 hours and one-half of
accumulated unused sick leave not exceeding 1,560 hours (Le. maximum pay-out of 780 hours). The City accrues for all
earned but unused vacation pay up to the "cap" of 360 hours, and the portion of unused sick leave estimated to be
payable upon retirement. The current portion of compensated absences is the amount estimated to be used in the
following year. For governmental activities, compensated absences are liquidated by the governmental funds where the
employee vacation and sick leave are earned.
7. Long-term obligations
In the government-wide financial statements, and proprietary fund types in the fund financial statements, long-term debt
and other long-term obligations are reported as liabilities in the applicable governmental activities, business-type
activities, or proprietary fund type statement of net assets. Bond premiums and discounts, as well as issuance costs, are
deferred and amortized over the life of the bonds using the straight-line method. Bonds payable are reported net of the
applicable bond premium or discount. Bond issuance costs are reported as deferred charges and amortized over the
term of the related debt.
In the fund financial statements, governmental fund types recognize bond premiums and discounts, as well as bond
issuance costs, during the current period. The face amount of debt issued is reported as other financing sources.
Premiums received on debt issuances are reported as other financing sources while discounts on debt issuances are
reported as other financing uses. Issuance costs, whether or not withheld from the actual debt proceeds received, are
reported as debt service expenditures.
8. Fund equity
In the fund financial statements, governmental funds report reservations of fund balance for amounts that are not
available for appropriation or are legally restricted by outside parties for use for a specific purpose. Designations of fund
balance represent tentative management plans that are subject to change.
43
City of Clearwater, Florida
Notes to the Financial Statements
September 30, 2003
Note II - Stewardship, Compliance, and Accountability
A. Budgets and budgetary accounting
Annual budgets are legally adopted for the General Fund, Special Development Special Revenue Fund, and the
Community Redevelopment Agency Special Revenue fund. The City of Clearwater observed the following procedures in
establishing the budgets for the General Fund and Special Development Fund, as reflected in the financial statements:
On June 14, 2002, the City Manager submitted to the Clearwater City Commission proposed budgets for the fiscal year
commencing October 1, 2002 and ending September 30, 2003. Public Hearings were held on September 5, 2002, and
September 19, 2002, at the Clearwater Commission Chambers to obtain citizen comments. On September 19, 2002,
official budgets were legally adopted by Ordinance No. 7012-02. Subsequent quarterly budget amendments were
adopted on April 3, 2003, (Ordinance 7097-03) and July 17, 2003 (Ordinance 7149-03). The final amended budget was
adopted October 2, 2003 (Ordinance 7171-03). The budget for the Special Development Fund is adopted on a basis
consistent with GAAP, and appropriations lapse at year-end. Appropriations for open encumbered purchase orders at
year-end in the General Fund do not lapse, but rather continue until liquidated or otherwise cancelled by City
Commission action. On the General Fund budgetary comparison statements, actual expenditures have been adjusted to
include end-of-year encumbrances and to exclude beginning-of-year encumbrances to provide for a meaningful
comparison. Except for the treatment of encumbrances and certain transactions relating to interfund loans, the General
Fund Budget is adopted on a basis consistent with GAAP, and all non-encumbered appropriations lapse at year-end.
The level of budgetary control established by the legislative body, the level on which expenditures may not legally
exceed appropriations, is the individual fund. In accordance with provisions of Ordinance 5025-90 and with Section
2.519(4) of the Clearwater Code, the City Manager may transfer part or all of any unencumbered appropriation
balance among programs within an operating fund, provided such action does not result in the discontinuance of a
program. Such transfers must be included in the next budget review presented to the City Commission. Upon
detailed written request by the City Manager, the City Commission may by ordinance transfer part or all of any
unencumbered appropriation balance from one fund to another.
As established by administrative policy, department directors may transfer money from one operating code to another
within a program without a formal written amendment. Formal requests for budget amendments from department
directors are required for transfers in capital expenditures, transfers, and reserves. Thus, certain object classifications
within departmental and/or program budget appropriations are subject to administratively imposed controls, in
addition to the legal controls imposed by City Commission action described above.
The Community Redevelopment Agency Fund annual budget is adopted by the trustees of that agency in accordance
with state law. The current year budget was officially adopted on June 18, 2002. The budget is adopted on a basis
consistent with GAAP, the level of budgetary control is the total fund, and appropriations lapse at year-end.
Budget amounts presented in the accompanying financial statements reflect all amendments adopted by the City
Commission and the governing boards of component units. All amendments were adopted in conformance with legal
requirements. Individual amendments, as well as the net effects of all amendments during the fiscal year, were not
material in relation to the original appropriations for the governmental funds in the aggregate.
The Clearwater City Commission also adopts budgets for the Enterprise Funds, all Intemal Service Funds, the Capital
Projects Funds, the Special Programs Fund, and the Local Housing Assistance Trust Fund. Budgetary comparisons for
the Enterprise and Internal Service funds are not required by NCGA Statement No. 1 for the general purpose financial
statements and are not included in this report. Budgets for the Capital Projects Funds, the Special Programs Fund, and
the Local Housing Assistance Trust Fund are adopted on a multi-year completed program basis, where budgetary
appropriations do not lapse at year-end, but may extend across two or more fiscal years. A comparison of annual results
with these budgets would not be meaningful and is therefore not included in this report.
All City Commission adopted budgets are integrated into the formal accounting system to allow for monthly
comparison of projected and actual experience in all funds for which budgets are adopted.
The annual budget for the Clearwater Downtown Development Board (DDB), a discretely presented component unit
of the City, is adopted by the members of the DDB's board in accordance with state law. The current year budget
was officially adopted on September 10, 2002. Separate financial statements for the DDB can be obtained from the
City's Finance Department located at 100 S. Myrtle Avenue, Clearwater, Florida.
44
City of Clearwater, Florida
Notes to the Financial Statements
September 30, 2003
B. Reclassification of prior year balances
Effective October 1, 2002, the City reclassified the Garage and Administrative Services internal service funds from
business-type activities to governmental activities for government-wide reporting. This resulted in the reclassification
of $12,621,515 in net assets from business-type activities to governmental activities as of October 1, 2002.
Note 11/ - Detailed Notes on All Funds
A. Deposits and investments
Investments with original maturities of three months or less are considered to meet the definition of cash equivalents.
The majority of the investments in which the City's proprietary funds have equity are held by the City's consolidated pool
of cash and investments. Since fund equities in this cash management pool have the general characteristics of demand
deposits in that additional funds may be deposited at any time and also funds may be withdrawn at any time without prior
notice or penalty, each fund's equity account is considered a cash-equivalent regardless of the maturities of investments
held by the pool. Funds with deficit (overdraft) positions within the consolidated pool report the deficits as interfund
payables to the City's Capital Improvement Fund.
Governmental Accounting Standards Board (GASB) Statement Number 3 requires certain disclosures for deposits and
investments, including management's determination of custodial credit risk, defined as follows:
For deposits, the bank balance must be categorized as follows:
Category 1: Insured or collateralized with securities held by the City or its agent in the City's name.
Category 2: Collateralized with securities held by the pledging financial institution's trust department or agent in
the City's name.
Category 3: Uncollateralized.
For investments other than deposits, the following categories apply:
Category 1: Insured or registered, or held by the City or its agent in the City's name.
Category 2: Uninsured and unregistered, held by the counterparty's (purchasing agent's) trust department or
agent in the City's name.
Category 3: Uninsured and unregistered, held by the counterparty, its trust department, or agent, but not in the
City's name.
As described above, the City's depository banking agreement provides for the investment of all excess cash daily into
a collateralized repurchase agreement, whereby all deposits deemed to be collected are automatically deposited.
City deposits consist of relatively small cash balances held by Debt Service Trustees and Employee Retirement
Custodians. The bank balances equal the carrying amount for these deposits, and management's classification of
custodial credit risk is indicated in the table below. Because these amounts are part of the trustee's and custodian's
composite account, they are classified along with investments on the balance sheet.
Managed mutual funds and securities lending collateral are not susceptible to classification by risk category and are
disclosed but not categorized pursuant to GASB Statement 3. Management has classified all other investments into
Category 1. The carrying value for all investments is fair value in accordance with GASB Statement 31.
45
City of Clearwater, Florida
Notes to the Financial Statements
September 30, 2003
Summary of deposits and investments, including management's assessment of custodial credit risk, follows:
Investment
Fair Deposit Credit Credit
Value Risk Category Risk Category
I. Cash On Hand and In Banks $ 47,842 1
II. Consolidated Cash Pool and Component
Unit Deposits and Investments:
Cash in Banks 5,605,849 1
U.S. Treasury Notes and Bills 26,005,830 1
U.S. Agency Securities 199,192,689 1
Money Market Mutual Funds 6,000,000 nla
Accrued Interest on Investments 1,778,215 nla
Less Outstanding Checks at 9/30/03 (2,958,224) nla
Total Cash Pool and Component Unit Equity * 235,624,359
(includes Fiduciary funds cash pool assets)
III. Construction and Debt Service Deposits
and Investments:
Money Market Mutual Funds 610,450 nla
Corporate Bonds 874,715 1
1,485,165
IV. Employee Retirement Deposits and Investments:
Money Market Accounts 7,120,068 1
Domestic Equity Securities 183,470,317 1
Government Bonds 40,287,718 1
Agency Bonds 280,340 1
Domestic Corporate Bonds 22,119,183 1
Mortgage Backed Bonds 3,725,883 1
Asset Backed Bonds 4,872,389 1
International Equity Mutual Funds 35,926,545 nla
Stock Mutual Funds 44,790,954 nla
Fixed Income Mutual Funds 108,568,943 nla
Securities Lending Collateral 27,627,316 nla
Total Employee Retirement Investments 478,789,656
Total Deposits and Investments, All Funds $ 715,947,022
* At September 30, 2003, the carrying amount of the primary government's deposits totaled $2,442,655 and the bank
balance was $5,399,993. The carrying amount of the component unit's deposits totaled $204,972, while the bank
balance was $205,856. Total bank balance for primary government and the discretely presented component unit was
$5,605,849.
B. Receivables
Receivables as of year end for the City's individual major funds and nonmajor, internal service, and fiduciary funds in the
aggregate, including the applicable allowances for uncollectible accounts, are segregated on the fund financial
statements. The Mortgages, Notes, and Other Loans amount of $9,703,654 reported on the Governmental Funds
balance sheet includes $9,506,257 of long-term loans receivable that are not expected to be collected in the next year.
46
City of Clearwater, Florida
Notes to the Financial Statements
September 30,2003
C. Capital assets
Capital asset activity for the year ended September 30, 2003 was as follows:
Beginning Ending
Balance Increases Decreases Balance
Governmental Activities:
Capital assets, not being depreciated:
Land $ 41,609,748 $ 3,679,328 $ 190 $ 45,288,886
Construction in progress 11,550,775 25,031,143 6,141,290 30,440,628
Total capital assets, not being depreciated 53,160,523 28,710,471 6,141,480 75,729,514
Capital assets, being depreciated:
Buildings 41,126,144 11.958,952 394.008 52,691,088
Improvements other than buildings 53,170,708 2,106,951 201,003 55,076,656
Machinery and equipment 72,519,291 8,776,646 2,875,587 78,420,350
Infrastructure 1,076,247 1,149,293 2,225,540
Total capital assets, being depreciated 167,892,390 23,991,842 3,470,598 188,413,634
Less accumulated depreciation for:
Buildings (12,086,557) (189,647) (13,258,422)
Improvements other than buildings (15,386,869) (116,653) (18,334,331 )
Machinery and equipment (47,813,444) (2,380,156) (50,915,348)
Infrastructure (53,812)
Total accumulated depreciation (75,286,870) (2,686,456) (82,561,9'13)
Total capital assets, being depreciated, net 92,605,520 784,142 105,851 ,721
Governmental activities capital assets, net $ 145,766,043 $ 42,740,814 $ 6,925,622 $ 181,581,235
Beginning Ending
Balance Increases Decreases Balance
Business-type activities:
Capital assets, not being depreciated:
Land $ 19,181,869 $ 6,831,490 $ $ 26,013,359
Construction in progress 47,205,107 17,618,870 20,532,904 44,291,073
Total capital assets, not being depreciated 66,386,976 24,450,360 20,532,904 70,304,432
Capital assets, being depreciated:
Buildings 20,425,340 2,290,235 22,715,575
Improvements other than buildings 293,385,180 18,027,743 311,412,923 '
Machinery and equipment 5,932,440 1,171,452 450,202 6,653,690
Total capital assets, being depreciated 319,742,960 21,489,430 450,202 340,782,188
Less accumulated depreciation for:
Buildings (5,858,968) (767,238)
Improvements other than buildings (105,189,239) (7,590,222)
Machinery and equipment (2,676,729) (559,025) (424,452)
Total accumulated depreciation (113,724,936) (8,916,485) (424,452)
Total capital assets, being depreciated, net 206,018,024 12,572,945 25,750
Business-type activities capital assets, net $ 272,405,000 $ 37,023,305 $20,558,654 $ 288,869,651
47
City of Clearwater, Florida
Notes to the Financial Statements
September 30, 2003
Depreciation expense was charged to functions I programs of the primary government as follows:
Governmental activities:
General government
Public safety
Physical environment
Transportation, including depreciation of general infrastructure assets
Culture and recreation
Capital assets held by the government's governmental internal service funds are
charged to the various functions based on their usage of the assets
Total depreciation expense - governmental activities
Business-type activities:
Water and sewer utility
Gas utility
Solid waste utility
Stormwater utility
Other
Total depreciation expense - business-type activities
Construction commitments
At September 30, 2003, material outstanding construction commitments were as follows:
Proiect
Reclaimed water distribution system
Community sports complex
Community sports complex
New main library
New main library
Sanitary coli. & transmission renewal & rep!.
Northwest fire station
Various street resurfacings
Pelican Walk parking garage
Kapok flood resolution
Water supply and treatment
New Citywide financial system
Clearwater Mall fire station
Sewer system pump station replacement
Garden Av. & S Beach pkg garage ctrl eqmt
Airpark improvements
Manhole and gravity line repairs
North Greenwood corridor enhancements
Total Construction Commitments
EY!ll1
Water & Sewer Utility enterprise fund
Capital Improvement construction fund
Community Sports Complex bond construction fund
Sales Tax Revenue bond construction fund
Capital Improvement construction fund
Water & Sewer Utility enterprise fund
Capital Improvement construction fund
Capital Improvement construction fund
Parking System enterprise fund
Stormwater Utility enterprise fund
Water & Sewer Utility enterprise fund
Administrative Services intemal service fund
Capital Improvement construction fund
Water & Sewer Utility enterprise fund
Parking System enterprise fund
Marine & Aviation enterprise fund
Water & Sewer Utility enterprise fund
Capital Improvement construction fund
48
$ 849,864
1,250,342
42,106
2,639,587
1 ,535,235
3,644,365
$ 9,961,499
$
4,972,309
1 ,427,298
225,112
1,046,521
1 ,245,245
8,916,485
$
Construction
Commitments
Outstanding
$ 7,430,679
5,893,623
1,706,502
1,258,459
1,242,227
1,937,718
1,749,000
1,663,297
1,400,000
1,023,038
821,486
720,000
625,144
615,141
590,654
580,609
533,326
522.466
$ 30 313 369
City of Clearwater, Florida
Notes to the Financial Statements
September 30, 2003
D. Interfund receivables, payables, and transfers
1. Interfund balances
As discussed in Note III-A, individual fund deficits in the consolidated cash pool have been reclassified as of
September 30, 2003, as interfund loans from the Capital Improvement Fund, which was selected by management for
this purpose. This reclassification results in a corresponding reduction in the cash equity in the Capital Improvement
Fund, offset by an increase in interfund receivables.
The amounts of the reclassified cash pool deficits, as well as other individual fund interfund payable and receivable
balances (current), at September 30, 2003, were as follows:
Due from Other Funds
Deficit in Other
Pooled Cash Receivables
Fund
General Fund
Special Revenue Fund:
Community Redevelopment Agency
Debt Service Fund:
Spring Training Facility Revenue Bonds
Capital Project Fund:
Capital Improvement
Enterprise Funds:
Water and Sewer Utility
Gas Utility
Solid Waste Utility
Recycling Utility
Stormwater Utility
Marine and Aviation
Parking System
Harborview Center
Internal Service Funds:
Garage
Administrative Services
General Services
Central Insurance
$
$
750,675 2,088
7,554,816
5,257,284
1,873,231
1 ,087,539
3,127,581
1,143,773
10,653,239
25,409
1,050,696
194,980
650,127
750,675 $ 32,620,763
$
Individual interfund advances (long-term) at September 30, 2003, follow:
Advances to
Other Funds
2,000,000
Fund
General Fund
Special Revenue Fund:
Community Redevelopment Agency
Enterprise Funds:
Solid Waste Utility
Marine and Aviation
Parking System
Internal Service Funds:
Administrative Services
Central Insurance
$
$
Due to Other Funds
Deficit in Other
Pooled Cash Payables
$ $ 24,925
419,695
259,397
120,402
31,968,548
82,474
59,602
71 ,583
2,088
362,724
$ 750,675 $ 32,620,763
Advances from
Other Funds
$ 24,925
361 ,204
742,263
59,602
4,000,000
824,882
4,012,876
6,012,876
$ 6,012,876
49
City of Clearwater, Florida
Notes to the Financial Statements
September 30, 2003
Descriptions of long-term interfund loans as of September 30. 2003:
An interfund Joan at the cash pool interest rate from the Central Insurance Fund to the Community Redevelopment
Agency Fund for the purchase of a land parcel for resale to a developer. The initial loan amount was $1,171,328 and
commenced during the fiscal year ended September 30, 2000. The loan is to be repaid when the development project is
completed.
An internal twenty year loan from the Central Insurance Fund to the Solid Waste Utility Fund for the construction of
administrative, container maintenance, and truck wash facilities, in addition to a paved yard for use by all cost centers of
the Solid Waste Fund. The loan provides for 20 annual payments of $82,474 together with interest at the cash-pool rate,
due on September 30 of each year, commencing September 30, 1994. The cost of the construction was $1,686,759.
An internal five-year construction loan in the amount of $298,011 from the Central Insurance Fund to the Marine and
Aviation Fund for construction of two aircraft T-hangars and one corporate hangar at Clearwater Airpark. The loan
provides for payments due on September 30 of each year, bearing interest at the cash-pool interest rate and
commencing September 30, 2001.
Internal loans of $2,000,000 each from the General Fund and the Central Insurance Fund, at the cash-pool interest
rate, to the Parking Fund to fund a contingency reserve per the terms of a development agreement. The Parking
Fund is contributing an additional $2,000,000 to fund a total contingency of $6,000,000 for the repurchase of a land
parcel if the proposed development does not occur by March 2006. The loans commenced September 30, 2002.
An internal five-year loan from the Central Insurance Fund to the Administrative Services Fund for the purchase and
installation of a new Utility Customer Service system. The loan provides for five annual payments of $300,000 plus
interest at the cash-pool rate, due on September 30 of each year. The loan commenced September 30, 1999 with
the first annual principal payment due September 30, 2000.
An internal ten-year loan from the Central Insurance Fund to the Administrative Services Fund for the purchase and
installation of fiber optic cable and termination equipment. The loan provides for ten annual payments of $91,653.50
plus interest at the cash-pool rate, due on September 30 of each year. The loan commenced September 30, 2003
with the first annual principal payment due September 30, 2004.
50
City of Clearwater, Florida
Notes to the Financial Statements
September 30, 2003
2. Interfund transfers
Interfund transfers for the year ended September 30, 2003, consisted of the following:
Transfers to General Fund from:
Capital Improvements Fund $ 253,396
Water & Sewer Utility Enterprise Fund 1,600,410
Gas Utility Enterprise Fund 1,271,980
Solid Waste Utility Enterprise Fund 705,650
Stormwater Utility Enterprise Fund 226,880
Nonmajor governmental funds 715,350
Nonmajor enterprise funds 226,420
Total 5,000,086
Transfers to Special Development Fund from:
Capital Improvements Fund 988,401
Stormwater Utility Enterprise Fund 1,500,000
Total 2,488,401
Transfers to Capital Improvements Fund from:
General Fund 3,313,998
Special Development Fund 8,665,850
Nonmajor governmental funds 2,018,538
Total 13,998,386
Transfers to Nonmajor governmental funds from:
General Fund 3,413,194
Special Development Fund 3,929,321
Capital Improvements Fund 67,968
Gas Utility Enterprise Fund 2,418
Nonmajor governmental funds 291,699
Nonmajor enterprise funds 50,000
Total 7,754,600
Transfers to Gas Utility Enterprise Fund from:
General Fund 880
Total 880
Transfers to Nonmajor enterprise funds from:
General Fund 625,050
Total 625,050
Transfers to internal service funds from:
General Fund 265,435
Capital Improvements Fund 37,228
Water & Sewer Utility Enterprise Fund 146,138
Stormwater Utility Enterprise Fund 219,326
Nonmajor enterprise funds 119,927
Total 788,054
Total interfund transfers $ 30,655,457
Transfers are primarily used to 1) transfer revenues that have been collected in the required fund per state law to the
funds and activities that state law allows for expenditures; 2) transfer of "payment in lieu of taxes" contributions from the
utility funds to the General Fund; 3) transfer funding from governmental funds to debt service and capital improvements
funds; and 4) transfer matching funds from the General Fund to various grant programs.
51
City of Clearwater, Florida
Notes to the Financial Statements
September 30, 2003
E. Leases
The City purchases various equipment for governmental and business-type activities under lease purchase financing
agreements. The equipment is purchased with cash and subsequently provided as collateral via a "lease purchase"
financing arrangement, typically for a five-year term. Obligations under these lease purchase agreements are recorded
at the present value of their future minimum lease payments as of date of inception. Purchase of the assets is recorded
as a cash outflow and the subsequent receipt of the financing proceeds is recorded as "proceeds from issuance of debf'
for Statement of Cash Flows reporting.
Capitalized equipment subject to lease purchase financing as of September 30, 2003:
Governmental
Activities
Business-type
Activities
Equipment
Less: Accumulated Depreciation
Total
$ 20,581,648
(7,980,698)
$ 12,600,950
$ 3,066,721
(957,513)
$ 2,109,208
The future minimum lease payments under capital lease purchase agreements are as follows as of September 30, 2003:
Governmental Business-type
Year Ending Sept. 30 Activities Activities
2004 $ 4,465,094 $ 660,299
2005 3,668,291 630,857
2006 2,384,968 461,656
2007 1,180,477 267,254
2008 604,457 158,326
2009 70,016 39,581
12,373,303 2,217,973
Deduction of the amount of imputed interest necessary to
reduce net minimum lease payments to present value (701,887) (143,130)
$ 11,671,416 $ 2,074,843
The City also leases personal computers under a three-year operating lease that is cancelable on an annual basis.
Lease payments for fiscal year ended September 3D, 2003, totaled $246,634.
52
City of Clearwater, Florida
Notes to the Financial Statements
September 30, 2003
F. Long-term debt
1. Revenue Bonds
$46,445,000 Infrastructure Sales Tax Revenue Bonds, Series 2001, with $5,270,000 of
principal due December 1, 2003, to $6,620,000 due December 1, 2009; interest at
4.00% to 5.00%.
$11,470,000 Improvement Revenue Refunding Bonds, Series 2001, due in annual
installments of $360,000 due February 1, 2004, to $820,000 due February 1, 2026;
interest at 3.00% to 5.25%. $80,174 of the bonds outstanding as of September 30,
2003, are reported in the Parking System Enterprise Fund per the financing of parking
system assets. Please reference the revenue bonds for business-type activities below.
$14,810,000 Spring Training Facility Revenue Bonds, Series 2002, due in annual
installments of $460,000 due March 1, 2004, to $470,000 due March 1, 2031, with a
maximum principal of $845,000 due March 1, 2021; interest at 2.00% to 5.38%.
Total revenue bonds for governmental activities
$53,445,000 Water and Sewer Refunding Revenue Bonds, Series 1993; serial bonds
due in annual installments of $5,715,000 due December 1, 2003 and $5,370,000 due
December 1, 2004, interest at 5.00% to 5.10%; 5.50% term bonds in the amount of
$1,160,000 due December 1, 2011; and 5.625% term bonds in the amount of
$1,760,000 due December 1, 2018.
$43,642,690 Water and Sewer Refunding Revenue Bonds, Series 1998, capital
appreciation bonds with total maturity amount of $81,785,000; due in annual installments
from December 1, 2004 to December 1 , 2018; ranging from $460,000 to $5,875,000: with
interest at 4.20% to 5.22%. The balance outstanding as of September 30, 2003, includes
capital appreciation bond accreted interest of $11,1 n,081.
$58,680,000 Water and Sewer Revenue Bonds, Series 2002; serial bonds due in annual
installments of $860,000 due December 1, 2003, to $2,420,000 due December 1, 2024,
interest at 3.25% to 5.00%; 5.00% term bonds in the amount of $11,050,000 due
December 1, 2028; and 5.00% term bonds in the amount of $13,665,000 due December
1 , 2032.
$8,815,000 Gas System Revenue Bonds, Series 1996A; serial bonds due in annual
installments of $95,000 due September 1, 2004, to $270,000 due September 1, 2014,
interest at 5.00% to 5.75%; 5.75% term bonds in the amounts of $905,000 and
$1,460,000 maturing on September 1, 2017 and September 1, 2021, respectively; and
5.80% term bonds in the amount of $4,465,000 maturing on September 1, 2026.
$14,605,000 Gas System Revenue Bonds and Gas System Revenue Refunding Bonds,
Series 1997 A & Series 19978; serial bonds due in annual installments of $525,000 due
September 1, 2004, to $785,000 due September 1, 2013, interest at 4.25% to 5.00%;
5.25% term bonds in the amount of $790,000 maturing September 1, 2017; and 5.30%
term bonds in the amount of $4,560,000 maturing September 1, 2027.
$8,020,000 Gas System Revenue Refunding Bonds, Series 1998; serial bonds due in
annual installments of $35,000 due September 1, 2004, to $50,000 due September 1,
2012, interest at 4.00% to 4.60%; additional serial bond annual installments ranging from
$620,000 to $755,000 from September 1, 2015 to September 1, 2019, interest at 4.75%
to 4.90%; 4.70% term bonds in the amount of $645,000 maturing September 1,2014; and
5.00% term bonds in the amount of $3,410,000 maturing on September 1, 2023.
$7,500,000 Stormwater System Revenue Bonds, Series 1999, with $130,000 of
principal due November 1, 2003, to $490,000 due November 1, 2029, interest at 4.25% to
5.75%.
53
$ 41 ,345,000
10,924,826
14.645.000
66.914.826
14,005,000
54,819,n1
58,680,000
8,270,000
11,870,000
7,860,000
7,150,000
City of Clearwater, Florida
Notes to the Financial Statements
September 30, 2003
$24,685,000 Stormwater Revenue Bonds, Series 2002; serial bonds due in annual
installments of $440,000 due November 1, 2003, to $965,000 due November 1, 2023,
interest at 3.00% to 4.75%; and 4.75% term bonds in the amounts of $3,205,000,
$5,115,000, and $2,985,000, due November 1, 2026, 2030, and 2032, respectively.
$11,470,000 Improvement Revenue Refunding Bonds, Series 2001, due in annual
installments of $360,000 due February 1, 2002, to $820,000 due February 1, 2026,
interest at 3.00% to 5.25%. A total of $11,255,958 of the bonds has been allocated to the
general government activities per above while the following amount has been allocated to
the Parking System Enterprise Fund.
Total revenue bonds for business-type activities
Total revenue bonds
24,685,000
80.174
187.419.945
$254.334.771
2. Restrictive covenants and collateral requirements
The Infrastructure Sales Tax Revenue Bonds are limited obligations of the City payable solely from and secured by a
lien upon and a pledge of the City's share of the proceeds derived by Pinellas County from the levy and collection of
the one-cent discretionary infrastructure sales tax pursuant to Section 212.055(2), Florida Statutes, as amended (the
Sales Tax Revenues) and, until applied in accordance with the provisions of the Ordinance, all moneys, including
investments thereof, in the funds and accounts established by the Ordinance, other than the Rebate Fund (collectively
the "Pledged Revenues"). The pledge of the Sales Tax Revenues does not constitute a lien upon any property of the
City. The covenants of the ordinance authorizing the bonds include, among other things, an obligation of the City to
do all things necessary on its part to continue the levy and collection of the Sales Tax Revenues at the maximum rate
permitted by and in compliance with Chapter 166, Part II, Florida Statutes, as amended, Chapter 212, Part I, Florida
Statutes, as amended, and other applicable provisions of law (the "Act"), and any successor provision of the law. The
City further covenants to proceed diligently to perform legally and effectively all steps required on its part in the levy
and collection of the Sales Tax Revenues and shall exercise all legally available remedies to enforce such collections
now or hereafter available under State law.
The Improvement Revenue Refunding Bonds are limited obligations of the City payable solely from and secured by a
lien upon and a pledge of the Public Service Tax as authorized by Section 166.231, Florida Statutes, as amended.
The pledge of the Public Service Tax does not constitute a lien upon any property of the City. The covenants of the
ordinance authorizing the bonds include, among other things, an obligation of the City to do all things necessary on its
part to continue the levy and collection of the Public Service Tax at the rate permitted by and in compliance with
Section 166.231, Florida Statutes, and Article III, Chapter 44, Code of Ordinances of the Issuer, and any successor
provision of law. The Public Service tax is a revenue of the General Fund.
The Spring Training Facility Revenue Bonds are special, limited obligations of the City, payable solely from and
secured by a lien upon and pledge of the (i) payments received by the City from the State of Florida pursuant to
Section 212.20, Florida Statutes (State Payments); and (ii) payments received by the City from Pine lias County,
Florida pursuant to the Interlocal Agreement dated December 1, 2000 (County payments). The pledge of the State
Payments and County Payments does not constitute a lien upon any property of the City. Furthermore, neither the
City, Pinellas County, the State of Florida, nor any political subdivision thereof has pledged its faith or credit or taxing
power to the payment of the bonds.
The Water and Sewer Refunding Revenue Bonds, Series 1993 and Series 1998, and the Water and Sewer Revenue
Bonds, Series 2002, are limited obligations of the City payable solely from and secured by a lien upon and pledge of
the net revenues of the City's water and sewer system (System). The pledge of the System's net revenues does not
constitute a lien upon any property of the City. The covenants of the ordinances authorizing the bonds include,
among other things, an obligation of the City to fix and maintain such rates, and collect such fees, rentals and other
charges for the services and facilities of the System and revise the same from time to time whenever necessary which
will provide gross revenues in each fiscal year sufficient to pay the cost of operation and maintenance of the system;
one hundred fifteen percent (115%) of the bond service requirement becoming due in such fiscal year on the
outstanding bonds; plus one hundred percent (100%) of all reserve and other payments required to be made
pursuant to the ordinances authorizing the bonds. The City further covenants that such rates, fees, rentals and other
charges will not be reduced so as to render them insufficient to provide gross revenues for such purpose.
54
City of Clearwater, Florida
Notes to the Financial Statements
September 30, 2003
The Gas System Revenue Bonds, Series 1996A; Gas System Revenue Bonds Series 1997 A; Gas System Revenue
Refunding Bonds, Series 1997B; and Gas System Revenue Refunding Bonds, Series 1998; are limited obligations of
the City payable solely from and secured by a lien upon and pledge of the net revenues of the City's gas system
(System). The pledge of the System's net revenues does not constitute a lien upon any property of the City. The
covenants of the ordinances authorizing the bonds include, among other things, an obligation of the City to fix,
establish, revise from time to time whenever necessary, maintain and collect always, such fees, rates, rentals and
other charges for the use of the product, services and facilities of the System which will always provide revenues in
each year sufficient to pay, and out of such funds pay, 100% of the cost of operations and maintenance of the system
in such year and all reserve and other payments provided for in the ordinances authorizing the bonds, along with one
hundred twenty five percent (125%) of the bond service requirement due in such year on all outstanding bonds.
The Stormwater System Revenue Bonds, Series 1999; and the Stormwater Revenue Bonds, Series 2002; are limited
obligations of the City payable solely from and secured by a lien upon and pledge of the net revenues of the City's
stormwater management system (System). The pledge of the System's net revenues does not constitute a lien upon
any property of the City. The covenants of the ordinances authorizing the bonds include, among other things, an
obligation of the City to fix, revise from time to time whenever necessary, and maintain and collect always such fees,
rates, rentals and other charges for use of the products, services, and facilities which will always provide net revenues
in each year sufficient to pay one hundred fifteen percent (115%) of the bond service requirement becoming due in
such fiscal year on the outstanding bonds. The City further covenants that such rates, fees, rentals and other
charges will not be reduced so as to render them insufficient to provide revenues for such purpose.
Annual debt service requirements to maturity for revenue bonds are as follows:
Revenue Bonds
Governmental Activities Business-type Activities
Principal Interest Principal Interest
$ 6,065,179 $ 2,796,166 $ 5,185,012 $ 8,798,192
6,273,477 2,534,986 5,400,129 8,546,648
6,491,170 2,235,993 5,661,286 8,242,209
6,685,000 1,945,793 5,908,385 8,019,911
6,935,000 1,674,198 6,064,869 7,787,207
17,575,000 5,231,712 34,892,056 34,709,873
5,590,000 3,694,071 44,038,018 25,508,757
5,925,000 2,173,099 29,010,190 16,200,679
4,030,000 845,203 26,735,000 9,724,785
1,345,000 110,859 24,525,000 3,080,978
$ 66,914,826 $ 23,242,080 $187,419,945 $130,619,239
Year Ending
September 30
2004
2005
2006
2007
2008
2009-2013
2014-2018
2019-2023
2024-2028
2029-2033
Totals
3. Advance refunding of bonds
In prior fiscal years, the City entered into various advance-refunding transactions related to certain of its bonded debt.
A portion of the proceeds of the refunding bond issues was placed in trust and used to purchase securities of the United
States Government and related agencies at various interest rates and maturities sufficient to meet all debt service
requirements of the refunded debt, of which $17,130,000 was outstanding at September 30,2003. These assets are
administered by trustees and are restricted to use for retirement of the refunded debt. The liability for the refunded
bonds and the related securities and escrow accounts are not included in the accompanying financial statements as the
City defeased its obligation for payment of the refunded bonded debt upon completion of the refunding transactions.
55
City of Clearwater, Florida
Notes to the Financial Statements
September 30, 2003
The following schedule reflects the outstanding principal on refunded bonds as of September 30:
Governmental Activities:
Utility Revenue Certificates, 1975
Utilities Tax and Bridge Revenue Bonds, Series 1977
Utilities Tax Bonds, Series 1977
Special Obligation bonds, Series, 1978A
Utility Revenue Bonds, 1978
Total Governmental Activities
Business-type Activities:
Total Business-type Activities
Total
$
600,000
1,350,000
2,380,000
10,000
12,790,000
17,130,000
$ 17,130,000
4. Changes in long-term liabilities
Beginning Ending Due Within
Balance Additions Reductions Balance One Year
Governmental activities:
Revenue bonds payable $ 72,510,958 $ $ (5,596,132) $ 66,914,826 $ 6,065,178
Add (subtract) deferred amounts:
For issuance premiums (discounts) 1,105,129 (184,465) 920,664
On refunding (414,182) 27,587 (386,595)
Net revenue bonds payable 73,201 ,905 (5,753,010) 67,448,895 6,065,178
Lease purchase contracts 12,239,209 3,383,184 (3,950,976) 11,671,417 4,108,085
Compensated absences 6,203,130 726,965 (614,112) 6,315,983 625,283
Claims payable 11 ,440,278 5,078,380 (3,562,176) 12,956,482 3,678,100
Governmental activity
Long-term liabilities $1 03.084.522 $ 9.188.529 $ (13.880.274) $ 98.392.777 $14.476.646
Business-type activities:
Revenue bonds payable $191,110,823 $ 2,517,990 $ (6,208,868) $187,419,945 $ 7,824,821
Less deferred amounts:
For issuance discounts (1,591,062) 105,334 (1,485,728)
On refunding (3,845,647) 301,840 (3,543,807)
Net revenue bonds payable 185,674,114 2,517,990 (5,801,694) 182,390,410 7,824,821
Lease purchase contracts 1,792,038 765,204 (482,399) 2,074,843 595,302
Compensated absences 1,382,056 141 ,439 (136,824) 1,386,671 137,280
Business-type activity
Long-term liabilities $188.848.208 $ 3.424.633 $ (6.420.917) $185.851.924 $ 8.557.403
56
City of Clearwater, Florida
Notes to the Financial Statements
September 30, 2003
G. Segment information
Generally accepted accounting principles require segment disclosure for non major enterprise funds with revenue bonds
outstanding. The following condensed statements are presented for the Parking System enterprise fund to satisfy this
disclosure requirement.
Condensed Statement of Net Assets
Assets:
~~~~~ $
Due from other funds
Restricted assets
Deferred charges
Net pension asset
Capital assets
Total assets
Liabilities:
Current liabilities
Current liabilities payable from restricted assets
Noncurrent liabilities
Compensated absences
Revenue bonds payable
Notes, loan pool agreement and acquisition contracts
Advances from other funds
Total noncurrent liabilities
Total liabilities
Net assets:
Invested in capital assets (net of related debt)
Restricted assets
Unrestricted
Total net assets $
Condensed Statement of
Revenues,Expenses,andChanges
in Net Assets
Operating revenues
Depreciation expense
Other operating expenses
Operating income
Nonoperating revenues (expenses):
Earnings on investments
Interest expense
Other
Transfers out to other funds
Change in net assets
Beginning net assets
Ending net assets
Parking
System
$ 3,975,121
(226,443)
(2,887,182)
861,496
Parking
System
1,866,739
3,153,239
7,526,347
483
172,476
3,340,516
16,059,800
225,225
16,953
34,809
53,773
265,302
4,000,000
4,353,884
4,596,062
2,835,670
181,870
8,446,198
11 ,463,738
Parking
System
Condensed Statement of Cash Flows
Net cash provided (used) by:
Operating activities $
Noncapital financing activities
Capital and related financing activities
Investing activities
Net increase (decrease)
Beginning cash and cash equivalents
Ending cash and cash equivalents $
306,918
(155,831)
26,686
(119,927)
919,342
10,544,396
$ 11 ,463,738
57
1 ,185,362
(1,659,000)
(330,741)
306,918
(497,461 )
2,380,573
1 ,883,112
Assets of the Water and Sewer Utility Fund restricted under the provisions of the ordinances
authorizing the issuance of Water and Sewer Revenue Bonds consisted of the following at
September 30,2003:
Water and Sewer Revenue Bonds Debt Service:
Equity in Pooled Cash and Investments
Water and Sewer Revenue Bonds Renewals and Replacements:
Equity in Pooled Cash and Investments
Due from Other Funds
Water and Sewer Revenue Bonds Construction:
Equity in Pooled Cash and Investments
Assets of the Water and Sewer Utility Fund restricted by agreement with other governmental entities
for improvements to the water and reclaimed water systems and the Northeast Water Pollution
Control facility at September 30, 2003:
Due from Other Funds
Due from Other Governmental Entities
Assets of the Water and Sewer Utility Fund representing Customers' Deposits and therefore
restricted, consisting entirely of Equity in Pooled Cash and Investments at September 30, 2003
Total restricted assets - Water and Sewer Utility Fund
2. Gas Utility Fund
Assets in the Gas Utility Fund restricted under the provisions of the ordinance authorizing the issuance of revenue bonds
consisted of the following at September 30, 2003:
Gas System Revenue Bonds
Debt Service:
Equity in Pooled Cash and Investments
Renewals and Replacements:
Equity in Pooled Cash and Investments
Assets of the Gas Utility Fund representing Customers' Deposits at September 30, 2003:
Equity in Pooled Cash and Investments
Total restricted assets - Gas Utility Fund
3. Solid Waste Utility Fund
Restricted assets in the Solid Waste Utility Fund designated for construction represent customer deposits in the amount of
$797,013 at September 30,2003, and consisted entirely of Equity in Pooled Cash and Investments.
City of Clearwater, Florida
Notes to the Financial Statements
September 30, 2003
H. Restricted assets
1. Water and Sewer Utility Fund
Assets in the Water and Sewer Utility Fund restricted for construction include:
Water Improvement charges, the use of which is restricted by the authorizing ordinance to the
construction of additions and improvements to the water system; assets remaining at
September 30, 2003, are:
Equity in Pooled Cash and Investments $
Due from Other Funds
Sewer Improvement charges, the use of which is restricted by the authorizing ordinance to the
construction of additions and improvements to the sewer system; assets remaining at
September 30, 2003, are:
Equity in Pooled Cash and Investments
Due from Other Funds
58
799,712
614,498
3,497,166
759,692
16,568,192
8,098,646
3,660,054
17,508,898
2,771
1,515,391
1.940.402
$54.965 422
$ 174,994
300,000
1.316.585
$ 1.791.579
City of Clearwater, Florida
Notes to the Financial Statements
September 30,2003
4. Stormwater Utility Fund
Assets in the Stormwater Utility Fund restricted under the provisions of the ordinances for the
issuance of revenue bonds consisted of the following at September 3D, 2003:
Stormwater System Revenue Bonds - Series 1999
Debt Service: Equity in Pooled Cash and Investments
Construction: Equity in Pooled Cash and Investments
Stormwater Revenue Bonds - Series 2002
Debt Service: Equity in Pooled Cash and Investments
Construction: Equity in Pooled Cash and Investments
Contributions from the Special Development Fund include proceeds restricted by City Commission
policy for improvements to the stormwater drainage system within the City; assets remaining at
September 3D, 2003:
Due From Other Funds
Total restricted assets - Stormwater Utility Fund
5. Parking System Fund
Assets in the Parking System restricted under the provisions of the ordinance authorizing the
issuance of the Public Service Tax and Bridge Revenue Bonds as of September 30, 2003:
Equity in Pooled Cash and Investments
Investments
Assets in the Parking System restricted under the provisions of a development agreement between
Clearwater Seashell Resort LC and the City of Clearwater as of September 30, 2003:
Due From Other Funds
Contributions from the Special Development Fund include proceeds restricted by City Commission
policy for improvements to the stormwater drainage system within the City; assets remaining at
September 3D, 2003:
Due From Other Funds
Total restricted assets - Parking System Fund
Note IV - Other Information
$ 280,627
1,721,433
849,565
11,123,297
1.020
$13.975.942
$ 16,817
9,530
6,000,000
1.500.000
$ 7.526.347
A. Risk management
The City is self-insured within certain parameters for losses arising from claims for general liability, auto liability, police
professional liability, public official's liability, property damage, and workers' compensation. Insurance coverage has
been maintained by the City to pay for or indemnify the City for losses in excess of certain specific retentions and up to
specified maximum limits in the case of claims for liability, property damage, and workers' compensation. The liability
and workers compensation excess coverage is $7,000,000 per occurrence ($14,000,000 aggregate) with self-insured
retention of $500,000. The property damage excess coverage is $287,000,000 with a $500,000 self-insured retention.
Settled claims have not exceeded excess coverage in any of the past three years.
The transactions relating to the self-insurance program are accounted for in the Central Insurance Fund, an Internal
Service Fund. The billings by the Central Insurance Fund to the various operating funds (the interfund premiums) are
based on actuarial estimates of the amounts needed to pay prior and current year claims. The claims liability reported
at September 30, 2003, is based on the requirements of Governmental Accounting Standards Board Statement No.1 0,
which requires that a liability for claims be reported if information prior to the issuance of the financial statements
indicates that it is probable that a liability has been incurred at the date of the financial statements and the amount of the
loss can be reasonably estimated.
59
City of Clearwater, Florida
Notes to the Financial Statements
September 30,2003
Changes in the claims liability amounts in fiscal years 2002 and 2003 were:
Self
Insurance
$ 9,337,296
Balance at October 1,2001
Current year claims and changes
in estimates
Claim payments
Balance at September 3D, 2002
Current year claims and changes
in estimates
Claim payments
Balance at September 30, 2003
6,464,068
(4,361,086)
11 ,440,278
5,078,380
(3,562,176
12,956,482
B. Statements of cash flows
For purposes of the statements of cash flows, investments with original maturities of three months or less are considered to
meet the definition of cash equivalents. The majority of the investments in which the City's proprietary funds have equity
are held by the City's consolidated pool of cash and investments. Since fund equities in this cash management pool have
the general characteristics of demand deposits in that additional funds may be deposited at any time and also funds may
be withdrawn at any time without prior notice or penalty, each fund's equity account is considered a cash equivalent
regardless of the maturities of investments held by the pool. Funds with deficit (overdraft) positions within the consolidated
pool report the deficits as interfund payables to the City's Capital Improvement Fund.
C. Capitalization of interest
Interest costs incurred in enterprise funds during construction are capitalized. net of interest income from the proceeds
of related tax-exempt debt if applicable, as part of the cost of the related assets of the respective enterprise funds.
Interest costs on long-term debt incurred and capitalized during the year ended September 30, were as follows:
Tota/lnterest Interest Costs Net Interest
Business-type activities: Costs Incurred Capitalized Expense
Water & Sewer Utility Fund $ 5,506,416 $ (660,128) $ 6,166,544
Gas Utility Fund 1,500,423 87,065 1 ,413.358
Solid Waste Utility Fund 54,180 54,180
Stormwater Utility Fund 1.138,221 (89,306) 1,227,527
Non-major Enterprise Funds 162,176 162,176
Total business-type activities $ 8,361,416 $ (662,369) $ 9,023,785
D. Use of estimates
The preparation of financial statements in conformity with generally accepted accounting principles requires
management to make estimates and assumptions that affect the amounts reported in the financial statements and
accompanying notes. Actual results could differ from the estimates.
60
City of Clearwater, Florida
Notes to the Financial Statements
September 30, 2003
E. Employee retirement systems and pension plans
1. Defined benefit pension plans
The City contributes to two separate single-employer, self-administered defined benefit pension plans covering
approximately three-fourths of all City employees. The Employees' Pension Plan covers all permanent, full-time City
employees who successfully pass the required physical examination, except for firefighters employed prior to July 1, 1963,
and certain nonclassified (primarily managerial) employees. The Firemen's Relief and Pension Plan covered eligible
firefighters hired prior to July 1, 1963, and is closed to new entrants. Neither of these plans issues a stand-alone financial
report. As indicated, both plans are self-administered, and the costs of administering the plans are paid from the respective
plan assets.
The Employees' Pension Plan is authorized by and operates under the provisions of Sections 2.391 through 2.411 of the
Municipal Code of the City of Clearwater. Plan provisions have been duly approved as required by the voters in
referendums. There were no changes in plan provisions for the current year. The normal retirement benefit is a monthly
benefit equal to 2-3/4% of average monthly compensation for the final 5 years of service multiplied by the number of years
of service to date of retirement. The minimum benefit under the plan is $300 per month. Eligibility for normal retirement
occurs upon completion of at least 10 years of service and the attainment of age 65, or completion of at least 20 years of
service and the attainment of age 55, or completion of 30 years of service, for employees engaged in non-hazardous duty.
For those engaged in hazardous duty, eligibility occurs upon completion of 20 years of service. The normal monthly
benefits are payable for the life of the participant and continue, after the participant's death, to be paid at the same amount
for 5 years to eligible surviving beneficiaries; after 5 years, the survivor annuity is reduced to fifty percent (50%) of the
original amount. The plan provides for an annual cost of living increase of up to one and one-half percent (1-1/2%). The
plan also provides for disability and death benefits, vesting after completion of 10 years of service and the refund of
employee contributions in case of a non-vested termination. There are seven other benefit payment options that are
computed to be the actuarial equivalent of the normal benefit. Covered employees contribute 8% of their compensation. It
is the city's obligation to provide a sufficient additional contribution to maintain the actuarial soundness of the fund but, in
any event, not less than 7% of participating employee's compensation per the ordinance governing the plan.
The Firemen's Relief and Pension Plan is authorized and operated under the provisions of Subpart 8, Article I (Laws of
Florida, Chapter 30658, 1955 and amendments), Sections 1 through 27 of the Municipal Charter and Related Law of
the City of Clearwater and Chapter 26, Article III, Sections 26.50 through 26.52 of the Municipal Code of the City of
Clearwater. The normal retirement benefit is a monthly benefit in the amount of 50% of the prevailing wage at the date
of retirement of the lowest rank held by the partiCipant during the three years immediately preceding retirement plus 2%
of such prevailing wage for each year of service in excess of 20 years up to a maximum of 60%. Participants retiring at
the age of 65 years are entitled to a benefit of 60% of the prevailing wage of the lowest rank held by the participant
during the three years immediately preceding retirement. The ending rate of pay specified above may not exceed the
highest rate of pay for the rank of Captain. Eligibility for normal retirement occurs upon completion of 20 years of
service or attainment of age 65. The monthly benefits are payable for the life of the participant and continue, after the
participant's death, to be paid to certain eligible surviving beneficiaries at an amount that is one-half of the amount
received by the participant. Benefits are also provided for children of the deceased participant who are less than 18
years of age subject to certain limitations as to amount. The plan also provides for disability and death benefits and for
vesting upon completion of at least 12 years of service. The plan provides for post retirement cost of living increases
equal to the increase in the prevailing wage for the rank at which the participant retired with a limitation for those retiring
on or after January 1, 1972, of 100% of the initial pension benefit for total cost of living increases. Participating
employees are required to contribute 6% of their salaries up to the equivalent of the salary of a fireman holding the rank
of Captain. The City is required to contribute a sufficient additional amount to maintain the actuarial soundness of the
plan for a period of 35 years commencing January 1, 1972. This contribution is based upon, but not limited to, the
amount of property tax that a levy of 0.6 mills would produce.
61
City of Clearwater, Florida
Notes to the Financial Statements
September 30, 2003
As of the January 1, 2002, actuary valuation date (upon which the current fiscal year funding is based), the membership
of the plans:
Retirees and beneficiaries currently receiving benefits
Terminated employees entitled to benefits but not yet receiving them
Active employees:
Fully vested
Nonvested
Total number of participants
Employees'
Pension Plan
566
47
Firemen's Relief
Pension Plan
48
793
799
2,205
48
For the fiscal year ended September 30, 2003, the covered payroll for the Employees' Pension Fund is $66,478,229. The
City's total payroll for the same period is $75,580,718. Annual pension cost and contributions information for the last three
fiscal years follows:
Employees' Pension Fund
Year
Ended
Sept 30
2001
2002
2003
Annual (a)
Required
Contribution
$ 174,377
$ 0
$ 0
Employer
Contributions
$ 4,255,484
$ 4,439,829
$ 4,649,642 (b)
Percent
Contributed
2440%
n/a
n/a
Net
Pension
Asset
$ 15,845,929
$ 21,445,982
$ 25,832,535
(a) The actuarially determined contribution requirements for the City's fiscal year ended September 30,2003, are based
on actuarial valuations as of January 1, 2002. Since the City's contributions are made during its fiscal year (which
commences nine months after the date of the actuarial valuation), the City, with approval of State regulatory
authorities, is following the practice of adding interest to its required contributions at the assumed rate of return on
investments for a period of one year.
(b) Actual contributions for fiscal 2003 totaled $4,649,642, as required by the ordinance governing the pension plan.
Firemen's Relief Pension Fund
Year
Ended
Sept 30
2001
2002
2003
Annual (a)
Required
Contribution
$ 1,098,990
$ 1,153,732
$ 1,211,210
Employer
Contributions
$ 1,098,990
$ 1,153,732
$ 1,211,210
Percent
Contributed
100%
100%
100%
a) The actuarially determined contribution requirements for the City's fiscal year ended September 30, 2003, are based
on actuarial valuations as of January 1, 2002. Since the City's contributions are made during its fiscal year (which
commences nine months after the date of the actuarial valuation), the City, with approval of State regulatory
authorities, is following the practice of adding interest to its required contributions at the assumed rate of retum on
investments for a period of one year.
62
City of Clearwater, Florida
Notes to the Financial Statements
September 30, 2003
The Employees' Pension Fund net pension asset at September 3D, 2003 totaled $25,832,535. It was comprised of the
following components:
Annual required contributions (ARC)
Interest on the net pension asset
Adjustment to annual contribution
Annual pension cost
Fiscal 2003 employer contributions
Increase in net pension asset
Net pension asset beginning of year
Net pension asset end of year
$ (514,517)
(1,502,968)
2,280,574
263,089
4,649,642
4,386,553
21,445,982
$ 25,832,535
The net pension asset at transition (October 1, 1997) was determined in accordance with GASB Statement No. 27,
"Accounting for Pensions by State and Local Governmental Employees". The amount of the pension asset at transition
was $3,503,365.
The net pension asset for the Employees' Pension Plan, representing excess contributions as calculated per GASB 27
requirements, is identical in amount to the plan "credit balance" as disclosed in prior years. A total of $17,731,175 of
the current net pension asset balance is attributable to governmental funds and therefore is not reflected in the
governmental fund financial statements in accordance with the modified accrual basis of accounting. The remaining
$8,101 ,360 attributable to proprietary funds is reflected in the proprietary fund financial statements on the accrual basis
of accounting.
Each pension fund is accounted for as a pension trust fund; therefore each is accounted for in substantially the same
manner as proprietary funds with a "capital maintenance" measurement focus and the accrual basis of accounting. Fund
assets, primarily investments, are valued at fair value for balance sheet purposes, in accordance with GASB No. 25.
Investment values are determined using the estimated fair value determined by averaging estimated fair values
obtained from three or more nationally recognized brokers.
As of September 3D, 2003, neither the Employees' Pension Fund nor the Firemen's Relief and Pension fund held
investments (other than U.S. Government or U.S. Government guaranteed obligations) in anyone organization
comprising 5% or more of the net assets available for benefits.
Significant actuarial assumptions utilized in the actuarial valuations as of January 1, 2002, are as follows:
Employees' Pension Plan
(1) Assumed rate of return on investments of 7.5% per annum.
(2) Projected salary increase at a rate of 6% per year, including both cost-of-living adjustments of 3% and merit
or seniority increases at 3%.
(3) Mortality based on the 1994 Group Annuity Reserving Table for males with female ages set back five years.
(4) Pre-retirement withdrawals assumed to occur in accordance with a table of declining withdrawal rates for male,
female, and hazardous duty categories.
(5) Pre-retirement incidence of disability is assumed to occur in accordance with a standard scale of moderate
disability rates (Class 1, 1952 Inter-Company); rates for females assumed to be twice that for males.
Firemen's Relief and Pension Plan
(1) Assumed rate of return on investments of 5.5% compounded annually.
(2) Assumed benefits grow at an annually compounded rate of 2%. There are no longer any active members in
this plan.
(3) Mortality based on the 1983 Group Annuity Mortality Table for retired participants; assumed disabled
participants will experience mortality according to PBGC Tables 3 and 4 for males and females, respectively.
(4) Assumed no withdrawals will occur.
(5) Assumed probability of an active participant becoming disabled is zero (no active participants).
(6) Assumed value of one mill of ad valorem tax will increase at ra1e of 5% per year.
63
City of Clearwater, Florida
Notes to the Financial Statements
September 30, 2003
The actuarial valuation of the Employees' Pension Fund as of January 1, 2002 reflected several changes in actuarial
assumptions, as follows: An investment yield of 7.5% assumed whereas the prior valuation assumed 7.0%. Salaries
were projected to increase at 6% versus the prior valuation assumption of 5%. Employee turnover rates were revised
for male and female employees and separate rates were adopted for hazardous duty employees. The mortality table
was changed from the 1983 Group Annuity Mortality Table to the 1994 Group Annuity Reserving Table. And finally, the
retirement age assumption was changed from 100% retirement at first eligibility for unreduced benefits to a table of
decrements at different ages. The impact of these changes decreased the unfunded actuarial accrued liability from
$72,178,974 to $41,332,472.
It is the City's policy to fund pension costs accrued as determined on an actuarial basis. Annual required contributions
(ARC) for the Employees' Pension Fund are calculated using the Entry Age Normal with Frozen Initial Liability method.
The initial unfunded actuarial accrued liability determined at July 1, 1963, is being amortized over a 40-year period;
changes made in 1979 and subsequent years which have had the effect of either increasing or decreasing the actuarial
liability are being amortized over a 30-year period from their effective dates in accordance with State law. The
amortization method is level dollar closed.
Annual required contributions (ARC) for the Firemen's Relief and Pension Fund are based on a variation of the
aggregate actuarial cost method, under which the unfunded portion of the present value of the projected benefits is
allocated over the present value of a 6.0% per year increasing annuity for the remaining years in the 35-year funding
period which began January 1, 1972, pursuant to an agreement between the City and the Plan participants. For this
purpose, the unfunded actuarial liability is determined after consideration of the available assets at the valuation date.
The increasing fixed schedule produced by this method was established in 1988 and will be modified in the future only
to the extent that a current valuation indicates a higher required cost level, or if the resulting cost level exceeds 60% of a
mill in a current year. Under the non-standard cost method used for this plan (due to the fact that there are no longer
any active employees), all liabilities are unfunded actuarial liabilities and are being amortized according to the closed
cost method.
Governmental Accounting Standards Board Statement Nos. 25 and 27 require the presentation, as supplementary
information, of certain 6-year historical trend information. The disclosures follow these Notes to the Financial Statements.
2. Police Supplemental Pension Fund
A supplemental defined contribution pension plan exists for all eligible policemen which is funded by earmarked
revenues received from the State and is administered by the City. The revenues received from the State are allocated
among eligible police officers on the basis of days employed as Clearwater Police Officers. These revenues, which
comprise the plan contributions, amount to $809,271 in the year ended September 30, 2003, and are obtained from an
eighty-five one hundredths of one percent (.85)% excise tax on the gross receipts from premiums collected on casualty
insurance policies covering property within the City's corporate limits. The current year contributions represent 5.2% of
current year covered payroll. The fair value of investments at September 30, 2003, totaled $9,881,078.
The Police Supplemental Pension Fund is authorized by and operates under the provisions of Sections 2.471 through
2.480 of the Municipal Code of the City of Clearwater and Chapter 185 of Florida Statutes. Under the plan provisions, the
total monies received during each fiscal year, after payment or provision for all costs and expenses of management and
operation of the plan, are allocated to participants on the basis of the total number of shares to which each participant is
entitled. Each participant is entitled to one share in the fund for each day of service as a police officer of the City.
All police officers, as defined in Section 26.70(g) of the Code of Ordinances of the City of Clearwater, who are elected,
appointed, or employed full-time by the City are eligible to participate in the plan. There are no employee contributions
to the supplemental plan. Benefits are fully vested for a lump sum distribution after twenty years from the date of hire,
with provision for partial vesting after ten or more years under the plan. Accumulated benefits are payable in full in case
of death while employed by the City or in case of total and permanent job-related disability. Non-vested participants'
account values upon termination of employment during any fiscal year are added to the monies received during that
fiscal year for allocation to the remaining participants in the plan on the basis of total days worked.
64
City of Clearwater, Florida
Notes to the Financial Statements
September 30, 2003
For the fiscal year ended September 30,2003, the payroll of the covered officers' was $15,538,166; the City's total payroll
for the same period was $75,580,718.
Since the entitlement to benefits is based entirely upon the allocation of monies received by the plan to the participants'
share accounts, there is no actuarial liability on the part of either the State or the City.
3. Firefighters Supplemental Pension Fund
A supplemental defined contribution pension plan exists for all eligible firemen, which is funded by earmarked revenues
received from the State and is administered by the City. The revenues received from the State are allocated among
eligible firemen on the basis of days worked during the previous year. These revenues, which comprise the plan
contributions, amounted to $654,462 in the year ended September 30, 2003, and are obtained from a one and eighty-five
one hundredths percent (1.85%) excise tax on the gross receipts from premiums collected on property insurance policies
covering property within the City's corporate limits. The contributions represent 6.86% of current year covered payroll. The
fair value of investments at September 3D, 2003, totaled $8,257,623.
As the plan is described as a money purchase pension plan, whereby contributions are allocated based on the number
of days worked during the fiscal year ended September 30, and interest earnings allocated based on the beginning
balances in each participant's account, there is no actuarial liability on the part of the State or City.
The Firefighters Supplemental Pension Fund is authorized by and operates under the provisions of Sections 2.441
through 2.450 of the Municipal Code of the City of Clearwater and Chapter 175 of Florida Statutes. Eligibility requires
two years of credited calendar year service as a firefighter with concurrent participation in the Employees' Pension Plan.
There is no employee contribution to the supplemental plan, and benefits are vested for a lump sum distribution at ten
years unless there is early retirement, disability or death. Non-vested participants' account values upon termination of
employment are reallocated among the remaining participants on the basis of days worked during the previous year.
For the fiscal year ended September 3D, 2003, the covered payroll was $9,543,405 the City's total payroll for the same
period was $75,580,718.
4. 401 (a) defined contribution plan
For all management employees not covered under either of the defined benefit pension plans, the City provides pension
benefits through a 401 (a) defined contribution plan. In a defined contribution plan, benefits depend solely on amounts
contributed to the plan plus investment earnings. Employees are participants from the date of employment and are fully
vested upon enrollment. The plan is totally contributory on the part of the City in an amount equal to 15% of
compensation on behalf of the City Manager and the City Attorney; 14% of compensation on behalf of the Chief of
Police; and 8% of compensation on behalf of all other management contract employees and assistant city attorneys.
The City makes bi-weekly contributions to the Trust throughout the plan year to meet its funding obligations under the
plan.
The International City Management Association Retirement Corporation (ICMA-RC), the trustee for the defined annuity,
offers participants a variety of investment options.
The City's total payroll for the fiscal year ended September 30, 2003, was $75,580,718. The Plan members' payroll for
the same period totaled $4,370,690. The City's contribution, per the above contribution rates, totaled $370,480. The
assets of the trust, at market value, totaled $1,562,848 at September 30, 2003.
5. Deferred compensation plan
The City offers its employees a deferred compensation plan created in accordance with Internal Revenue Code Section
457. The plan, available to all City employees, permits them to defer a portion of their salary until future years.
Participation in the plan is optional. The deferred compensation is not available to employees until termination, retirement,
death, or unforeseeable emergency.
Effective January 1, 1997, Federal legislation converted the Section 457 deferred compensation assets from City assets to
employee assets. As a result of these changes, plan assets are no longer subject to the claims of the City's general
creditors.
65
City of Clearwater, Florida
Notes to the Financial Statements
September 30, 2003
The City has previously reported the assets and associated liabilities of the deferred compensation plan in the City's
financial statements as an agency fund. Effective with the change in legislation these assets are no longer City assets and
the fiduciary responsibility has been transferred to the third party plan administrator. Consequently, effective with fiscal
1997, these assets are no longer reported in the accompanying financial statements, in compliance with Governmental
Accounting Standards Board Statement No. 32.
F. Securities lending transactions
The City of Clearwater Employees' Pension Plan participates in securities lending transactions via a Securities Lending
Authorization Agreement with Northern Trust Company, who is also the pension plan's custodian. Securities are loaned
versus collateral that may include cash, U.S government securities, and irrevocable letters of credit. U.S. government
securities are loaned versus collateral at 102% of the market value of the securities plus any accrued interest. Non-U.S.
securities are loaned versus collateral at 105% fo the market value plus any accrued interest.
Non-cash collateral cannot be pledged or sold unless the borrower defaults. All securities loans can be terminated on
demand by either the lender or the borrower. The average term for the pension plans loans at September 30,2003 was 41
days.
Cash "open" collateral is invested in a short term investment pool, the Core USA Collateral Section, which had an average
weighted maturity of 30 days as of September 30, 2003. Cash collateral may also be invested separately in "term loans" in
which investments match the loan term. These term loans may be terminated on demand by either the lender or the
borrower.
There were no significant violations of legal or contractual provisions, nor any borrower or lending agent defaults known to
the securities lending agent. The City did not impose any restrictions on the amount of loans made by Northem Trust
during fiscal year 2003.
Northern Trust indemnified the City for losses attributable to violations by the entity of the Standard of Care set out in the
Agreement. Northern Trust has also indemnified the City for all losses as a result of borrower default and for any losses
resulting from insufficient collateral. There were no losses during fiscal year 2003.
As of September 30, 2003, the City had no credit risk exposure to borrowers. The following is a summary of securities on
loan and their collateral:
4,842,113
11,152,373
8,298,725
24,293,211 $
4,928,302
11,441,217
8,427,302
24,796,821
Securities Collateralized by Non-Cash
Market Value Non-Cash Collateral
$ 2,050,950 $ 2,092,721
725,257 737,775
Security Type
U.S. Agency
U.S. Corporate Fixed
U.S. Equity
U.S. Government Fixed
Total
Securities Collateralized by Cash
Market Value Cash Collateral
$ $
$
2,776,207 $
2,830,496
$
G. Contingencies and commitments
Loan Guarantee - PACT. Inc.
PACT, Inc. is a nonprofit corporation formed in 1978, for the purpose of financing, constructing, and operating a
performing arts center. Per a Guaranty Agreement dated May 18, 2001, the City guaranteed $1,000,0000 on a
$5,000,000 mortgage note for PACT, Inc., used to refinance a previous mortgage with a similar City guarantee. City
management does not consider it probable that this guarantee will be called, and, accordingly, no amounts have yet
been accrued or otherwise recorded in the accompanying financial statements to reflect this possibility.
66
City of Clearwater, Florida
Notes to the Financial Statements
September 30, 2003
Loan Guarantee - Chi Chi Rodriquez Youth Foundation. Inc.
On March 30, 1992, the City Commission approved a contingent loan guarantee of $1,000,000 on a $2,500,000 note for
the Chi Chi Rodriquez Youth Foundation, Inc. The proceeds of the note were used to refinance existing foundation debt
incurred to construct a golf course on a parcel of City owned land. Subsequently, the note was refinanced with Variable
Rate Demand Revenue Bonds (Chi Chi Rodriquez Youth Foundation Project), Series 1998, on August 1, 1998.
In the event of default, the City is obligated to contribute $1,000,000 out of legally available non-ad valorem revenues.
In addition, the City has the option to retire the entire unpaid balance and assume ownership and operation of the golf
course facility. At the present time, management expects the foundation to meet all debt service payments and does not
consider it likely that the City's guarantee will be invoked.
Soil and groundwater contamination site
The City owns a property, currently used by the City Gas Division as its administrative offices and operating facility, that
has been identified as having soil and groundwater impacts in a June 1990 report prepared by a United States
Environmental Protection Agency contractor. The contamination allegedly resulted from the prior operation of a
manufactured gas plant (MGP). Contamination assessment activities by the City were initiated during 1995 and a draft
Contamination Assessment Report was submitted to the Florida Department of Environmental Protection (FDEP) on
December 29,1999. On March 20, 2000, FDEP requested further assessment be undertaken. On July 25,2000, FDEP
approved the City's proposed scope of work for additional on and off-site assessment activities. Additional field
activities were initiated in December 2000. The supplemental contamination assessment results were submitted to
FDEP as part of the May 2001 and July 2001 site status reports. The cost of this additional work, including preparation
and submittal of the May and July 2001 site status reports, was approximately $39,462.
On May 16, 2002, the City received a letter from FDEP requiring additional fieldwork to better define the soil and
groundwater contamination on the site. In September 2002, Clearwater Gas met with FDEP to discuss their May 16th
letter and the future of the gas plant site. In that meeting, it was agreed the City would install seven (7) new monitoring
wells and drill twelve (12) soil samples around the perimeter of the MGP site. This additional work was performed in
early 2003 and the results were submitted to FDEP in June 2003. FDEP has not made any comments on this June
2003 report.
Since 1993, the City has spent $447,107 on the MGP assessment activities, which includes both environmental
consultant and outside attorney fees. Approximately $487,500 has been recovered from City insurance policies to be
applied to any required remediation.
Letter of Credit Guarantee - soil contamination sites
The City has provided a standby letter of credit in the amount of $463,040 to the Florida Department of Environmental
Protection (FDEP). The Letter of Credit is required by FDEP for the City's approximate 41% share of the remediation
costs for three City-owned petroleum contamination sites under FDEP's "Pre-approved Advance Cleanup" (PAC)
program. The PAC program awards state funds to assist with remediation of petroleum contaminated sites. The City
has available funds set aside to fully fund the City's commitment of $463,040 under the PAC agreements.
Contractual Commitment - Water and Sewer Utility
Under the terms of a 30-year contract between the City and Pinellas County, which is effective through September 30,
2005, the City is required to purchase a minimum of 4 million gallons of water per day on an annual average basis from
the County within each calendar year, with a maximum amount of water available to the City of 10 million gallons per
day on an annual average basis. Effective October 1, 1995, the rate, which is set by the Pinellas County Board of
County Commissioners (BOCC), was $1.7902 per 1,000 gallons, including a $.60 per 1,000 gallon surcharge for
funding capital projects. On November 19, 2002, the BOCC approved the following rate increases: $1.9334 effective
January 1, 2003; $2.0881 effective October 1, 2003; $2.2969 effective October 1, 2004; $2.5266 effective October 1,
2005; and $2.7792 effective October 1, 2006. The cost of water purchased from the County during fiscal years 2002
and 2003 was $7,516,678 and $6,103,150, respectively.
67
City of Clearwater, Florida
Notes to the Financial Statements
September 30, 2003
Potential Claim - Gas System
As a member of the Florida Gas Utility (FGU), Clearwater Gas System is a party to gas supply contracts that FGU
enters into on behalf of the members. In November 2002, FGU received a verbal claim from representatives of Enron
North America Corporation, or one of its affiliated companies (Enron), claiming that unspecified amounts were due and
owing to FGU to Enron as a result of certain favorable pricing for gas received by FGU in the open market, but for which
confirmations had been placed with Enron under an earlier contract. FGU has since received a letter dated December
12, 2003, from Enron asserting a claim, demanding payment, and threatening action in the Bankruptcy Court for the
Southern District of New York or other forum. Enron failed to make deliveries of gas in December 2001 and FGU
accordingly terminated all confirmations and any existing contract with Enron. FGU disclaims any obligation that may
be claimed by Enron pursuant to any gas confirmation or any contract with Enron. FGU plans to vigorously contest the
claim by Enron. Due to the early nature of these proceedings, FGU indicates that they are unable to make an informed
judgment concerning FGU's ultimate liability, nor Clearwater Gas System's member share of any ultimate liability, and
the extent of any unfavorable outcome cannot be ascertained at this time. With such uncertainties, the City is unable to
determine the potential impact on the financial statements as of September 30, 2003.
Contractual Commitment - Parking System
Under the terms of a development agreement, the City has committed to repurchase a beach land parcel at the
appraised amount not to exceed $6,000,000, if the developer is unable to proceed with the development project by
March 2006. A contingency reserve was established in the Parking System fund in the amount of $6,000,000 during
fiscal year 2002.
Grant Revenues
During fiscal year 2003 and prior fiscal years, the City received revenues and contributions related to grants from the
Southwest Water Management District, the State of Florida, the federal government, and other grantors. These grants are
for specific purposes and are subject to review and audit by the grantor agencies. Such audits could result in requests for
reimbursement for expenditures disallowed under the terms of the grants. Based upon prior experience, City management
believes such disallowances, if any, will not be significant.
H. Pending litigation
In the normal course of operations the City is a defendant in various legal actions, the ultimate resolution of which is not
expected to have a material effect on the financial statements, other than for amounts that have been reserved and
recorded as liabilities in the Central Insurance Fund.
I. Conduit debt
The City has one issue of conduit debt outstanding as follows:
Original
Issue
Description / Purpose Amount
Amount
Outstanding
at 9/30/02
Amount
Outstanding
at 9/30/03
Drew Gardens Refunding Bonds / residential rental facility $ 3,425,000 $ 3,040,000
$ 2,985,000
The bonds do not constitute a debt, liability, or obligation of the City of Clearwater, the State of Florida, or any political
subdivision thereof and accordingly have not been reported in the accompanying financial statements.
68
City of Clearwater, Florida
Notes to the Financial Statements
September 30,2003
J. Subsequent events
Water and Sewer Revenue Refunding Bonds. Series 2003
On October 1, 2003, the City issued Water and Sewer Revenue Refunding Bonds, Series 2003, in the amount of $8.41
million, with an average interest rate of 3.14%, to advance refund $8.29 million of outstanding Water and Sewer Refunding
Revenue Bonds, Series 1993, with an average interest rate of 5.49%. The net proceeds of $8.58 million (after payment of
$111.000 in underwriting fees, insurance, and other issuance costs and $7,800 deposited to the Debt Service Fund),
including $182,000 of transfers from the refunded issue debt service fund and $44,000 released debt service reserve
escrow. were deposited into an irrevocable trust with an escrow agent to provide for all future debt service payments on the
refunded bonds.
The City completed the advance refunding to reduce its total debt service payments over the next 15 years by $874.000
and to obtain an economic gain (difference between the present values of the old and new debt service payments) of
$528,000.
Gas System Revenue Refunding Bonds. Series 2004
On January 15, 2004, the City issued Gas System Revenue Refunding Bonds, Series 2004. in the amount of $8.89 million,
with an average interest rate of 4.07%, to advance refund $8.18 million of outstanding Gas System Revenue Bonds, Series
1996A, with an average interest rate of 5.77%. The net proceeds of $8.76 million (after payment of $191,000 in
underwriting fees, insurance, and other issuance costs and $24,000 deposited to the Debt Service Fund), including
$195.000 of transfers from the refunded issue debt service fund, were deposited into an irrevocable trust with an escrow
agent to provide for all future debt service payments on the refunded bonds.
The City completed the advance refunding to reduce its total debt service payments over the next 23 years by $1.67 million
and to obtain an economic gain (difference between the present values of the old and new debt service payments) of
$970,000.
69
Page 1 of 3
,
City of Clearwater, Florida
Defined Benefit Pension Plans
Required Supplementary Information - Unaudited
Schedules of Funding Progress:
Employees Pension Fund
Actuarial Actuarial Actuarial Unfunded ML
Valuation Value of Accrued Liability Unfunded Funded Covered as a Percentage
Date Assets (AAL) - Entry Age ML Ratio Payroll * of Covered Payroll
(a) (b) (b-a) (a/b) (c) ((b-a) /c)
1/1/1998 $ 308.596,133 $ 333,250,492 $24,654,359 93% $47,281,198 52%
1/1/1999 $ 354,088,751 $ 377,788,731 $23,699,980 94% $49,666,523 48%
1/1/2000 $ 414,826,422 $ 490,426,940 $75,600,518 85% $50,937,403 148%
1/1/2001 $ 461,724,610 $ 535,672,208 $73,947,598 86% $54,864,584 135%
1/1/2002 $ 491,859,015 $ 533,191,487 $41,332,472 92% $58,929,582 70%
1/1/2003 $477,541,459 $ 517,933,495 $40,392,036 92% $65,150,820 62%
Firefighters Relief and Pension Fund
Actuarial Actuarial Actuarial Unfunded ML
Valuation Value of Accrued Liability Unfunded Funded Covered as a Percentage
Date Assets (AAL) - Entry Age ML Ratio Payroll * of Covered Payroll
(a) (b) (b-a) (a/b) (c) ((b-a) /c)
1/1/1998 $ 3,626,850 $ 10,565,127 $ 6,938,277 34% $ 50,573 13719%
1/1/1999 $ 3,963,395 $ 10,473,888 $ 6,510,493 38% $ 15,605 41721 %
1/1/2000 $ 4,092,298 $ 9,746.671 $ 5,654,373 42% $ n/a
1/1/2001 $ 4,668,572 $ 9,527,303 $ 4,858,731 49% $ n/a
1/1/2002 $ 5,213,993 $ 8,907,427 $ 3,693,434 59% $ n/a
1/1/2003 $ 5,741,450 $ 10,483,967 $ 4,742,517 55% $ n/a
* Covered payroll is for the calendar year period used for the actuarial valuation.
70
Page 2 of 3
City of Clearwater, Florida
Defined Benefit Pension Plans
Required Supplementary Information - Unaudited
Schedules of Employer Contributions:
Employees' Pension Fund
Year
Ended
Sept. 30,
1998
1999
2000
2001
2002
2003
Annual (a)
Required
Contribution
$ 3,080,802
$ 840,558
$
$ 174,377
$
$
Percent
Contributed
119%
464%
N/A
2440%
n/a
n/a
(b)
(a) The actuarially determined contribution requirements for the City's fiscal year ended September 30, 2003
are based on actuarial valuations as of January 1, 2002. Since the City's contributions are made during its
fiscal year, which commences nine months after the date of the actuarial valuations, the City, with approval
of State regulatory authorities, is following the practice of adding interest to its required contributions at the
assumed rate of return on investments for a period of one year.
(b) Actual contribution for fiscal 2003 was $4,649,642, as required by City pension ordinance.
Firemen's Relief Pension Fund
Year
Ended
Sept. 30,
1998
1999
2000
2001
2002
2003
$
$
$
$
$
$
Annual (a)
Required
Contribution
955,920
1,003,758
1,046,856
1,098,990
1,153,732
1,211,210
Percent
Contributed
100%
100%
100%
100%
100%
100%
(a) The actuarially determined contribution requirements for the City's fiscal year ended September 30, 2003
are based on actuarial valuations as of January 1, 2002. Since the City's contributions are made during its
fiscal year, which commences nine months after the date of the actuarial valuations, the City, with approval
of State regulatory authorities, is following the practice of adding interest to its required contributions at the
assumed rate of return on investments for a period of nine months.
71
Page 3 of 3
City of Clearwater, Florida
Defined Benefit Pension Plans
Required Supplementary Information - Unaudited
Notes To Schedules Of Required Pension Supplementary Information
Annual required contributions for the Employees' Pension Fund are calculated using the Entry Age Normal with Frozen
Initial Uability method. The initial unfunded actuarial accrued liability determined at July 1, 1963 is being amortized over
a 4o-year period; changes made in 1979 and subsequent years which have had the effect of either increasing or
decreasing the actuarial liability are being amortized over a 3D-year period from their effective dates in accordance with
State law. The amortization method is level dollar closed.
Annual required contributions for the Firemen's Relief and Pension Fund are based on the aggregate actuarial cost
method, under which the unfunded portion of the present value of the projected benefits is allocated over the present
value of a 6.0% per year increasing annuity for the remaining years in the 35-year funding period which begin January 1,
1972, pursuant to an agreement between the City and the Plan participants. For this purpose, the unfunded actuarial
liability is determined after consideration of the available assets at the valuation date. The increasing fixed schedule
produced by this method was established in 1988 and will be modified in the future only to the extent that a current
valuation indicates a higher required cost level, or if the resulting cost level exceeds 60% of a mill in a current year. The
amortization method for the Firemen's Relief and Pension Fund is a non-standard (no active employees) closed cost
method.
The actuarially determined contribution requirements for the City's fiscal year ended September 30, 2003, are based on
actuarial valuations as of January 1, 2002. Since the City's contributions are made during its fiscal year, which
commences nine months after the date of the actuarial valuations, the City, with approval of State regulatory authorities,
is following the practice of adding interest to its required contributions at the assumed rate of retum on investments for a
period of one year in the case of the Employees' Pension Fund and for nine months in the case of the Firemen's Relief
and Pension Fund.
Significant actuarial assumptions utilized in the actuarial valuations as of January 1, 2002, in the determination of the
annual required contribution are as follows:
Employees' Pension Fund
(1) Assumed rate of retum on investments of 7.5% per annum.
(2) Projected salary increase at a rate of 6% per year, including cost-of-living adjustments of 3% and merit or
seniority increases at 3%.
(3) Mortality based on the 1994 Group Annuity Reserving Table for Males with female ages set back five years.
(4) Pre-retirement withdrawals assumed to occur in accordance with a table of declining withdrawal rates for male,
female, and hazardous duty categories.
(5) Pre-retirement incidence of disability assumed to occur in accordance with a standard scale of moderate disability
rates (Class 1, 1952 Inter-Company); rates for females assumed to be twice that for males.
(6) Assumed inflation rate of 3%
Firemen's Relief and Pension Fund
(1) Assumed rate of return on investments of 5.5% compounded annually.
(2) Assumed benefits grow at annually compounded rate of 2% related to cost of living adjustments only.
(3) Mortality based on the 1983 Group Annuity Mortality Table (no active); assumed disabled participants will
experience mortality according to PBGC Tables 3 & 4 for males and females, respectively.
(4) Assumed no withdrawals will occur.
(5) Assumed probability of an active participant becoming disabled is zero (no active participants).
(6) Assumed value of one mill of ad valorem tax will increase at rate of 5% per year.
(7) Assumed inflation rate of 3%
Significant changes affecting the presented 6-year trend information include:
The actuarial valuation of the Employees' Pension Fund as of January 1, 2002 reflected several changes in actuarial
assumptions, as follows: An investment yield of 7.5% assumed whereas the prior valuation assumed 7.0%. Salaries
were projected to increase at 6% versus the prior valuation assumption of 5%. Employee turnover rates were revised
for male and female employees and separate rates were adopted for hazardous duty employees. The mortality table
was changed from the 1983 Group Annuity Mortality Table to the 1994 Group Annuity Reserving Table. And finally, the
retirement age assumption was changed from 100% retirement at first eligibility for unreduced benefits to a table of
decrements at different ages. The impact of these changes decreased the unfunded actuarial accrued liability from
$72,178,974 to $41,332,472.
72
Nonmajor Governmental Funds
Special Revenue Funds
Special revenue funds are used to account for specific revenues that are legally restricted to expenditures for
particular purposes.
Special Programs Fund - to account for grants and contributions, the use of which is restricted for certain
programs.
Community Redevelopment Agency Fund - to account for receipt, custody, and expenditure of property tax
increment funds associated with related redevelopment projects.
Local Housing Assistance Trust Fund - to account for monies allocated to the City under the Local Housing
Assistance grant program.
73
Debt Service Funds
Debt service funds provide separate accounting records for all debt interest, principal, and reserve
requirements for general government long-term. Debt of proprietary funds is serviced through restricted
accounts maintained within the individual enterprise or internal service fund associated with the debt.
Improvement Revenue Refunding Bonds Debt Service Fund - to account for the advance monthly
accumulation of resources by transfer of public service tax and communications services tax revenues
from the General Fund and the payment of currently maturing installments of principal and interest during
each fiscal year.
Infrastructure Sales Tax Revenue Bonds Debt Service Fund - to account for the advance monthly
accumulation of resources by transfer of sales tax revenues from the Special Development Special
Revenue Fund and the payment of currently maturing installments of principal and interest during each
fiscal year.
Notes and Mortgages Debt Service Fund - to account for the advance monthly accumulation of resources by
transfer of General Revenues from the General and Special Revenue Funds and the payment of currently
maturing installments of principal and interest on the various note and mortgage obligations of the
governmental funds during each fiscal year.
Spring Training Facility Revenue Bonds Debt Service Fund - to account for the advance monthly
accumulation of resources by transfer of sales tax revenues from the Special Development Special Revenue
Fund and the payment of currently maturing installments of principal and interest during each fiscal year.
74
Capital Projects Funds
Capital projects funds are used to account for resources to be used for the acquisition or construction of
major capital improvement projects, other than those financed by proprietary funds. A major capital
improvement project is a property acquisition, a major construction undertaking, or a major improvement to
an existing facility or property, with a cost greater than $25,000 and a minimum useful life of at least five
years.
Sales Tax Revenue Construction Fund - to provide separate accounting records for the financing and
construction of the entryway and roundabout at Clearwater Beach, a new Main Library, and a new Memorial
Causeway Bridge.
Community Sports Complex Construction Fund - to provide separate accounting records for the financing
and construction of a new community sports complex including a new spring training facility to be used by the
Philadelphia Phillies major league baseball organization.
75
City of Clearwater, Florida
Combining Balance Sheet
Nonmajor Governmental Funds
September 30, 2003
Special Revenue Funds
Community Local Housing
Special Redevelopment Assistance
Programs Agency Trust Total
ASSETS
Cash on hand and in banks $ $ 100 $ $ 100
Equity in pooled cash and investments 7,021,580 502,375 7,523,955
Receivables:
Mortgage notes 4,434,843 5,261,311 9,696,154
Rehab advances 38,767 30,247 69,014
Other 14,961 86,459 101,420
Investments
Due from other govemments - grants 258,071 161,141 419,212
Land held for resale 84,701 913,641 998,342
Total assets $ 11,852,923 $ 1,000,200 $ 5,955,074 $ 18,808,197
LIABILITIES
Accounts and contracts payable $ $ $ $
Accrued payroll 15,421 15,421
Due to other governmental entities 215 215
Construction escrows 205,875 304,497 510,372
Due to other funds 120,402 120,402
Due to other funds (deficit in pooled cash) 419,695 419,695
Advances from other funds 361,204 361,204
Deferred revenue 958 86,331 87,289
Total liabilities 222,469 987,632 304,497 1,514,598
FUND BALANCES
Reserved for:
Encumbrances 12,568 12,568
Advances and notes 4,244,946 5,261,311 9,506,257
Grant programs 3,030,431 3,030,431
Debt service:
Current requirements - principal
Current requirements - interest
Future requirements
Unreserved, reported in:
Special revenue funds 4,355,077 389,266 4,744,343
Debt service funds
Capital projects funds
Total fund balances 11,630,454 12,568 5,650,577 17,293,599
Total liabilities and fund balances $ 11,852,923 $ 1,000,200 $ 5,955,074 $ 18,808,197
The notes to the financial statements are an integral part of this statement.
76
Debt Service Funds Capital Project Funds
Spring
Improvement Infrastructure Training Total
Revenue Sales Tax Facility Community Nonmajor
Refunding Revenue Revenue Sales Tax Sports Governmental
Bonds Bonds Bonds Total Revenue Complex Total Funds
$ $ $ $ $ $ $ $ 100
297,296 4,984,896 5,282,192 4,152,454 2,178,751 6,331,205 19,137,352
9,696,154
69,014
158,308 158,308 259,728
865,185 610,450 1,475,635 1,475,635
419,212
998,342
$ 1,162,481 $ 4,984,896 $ 610,450 $ 6,757,827 $ 4,310,762 $ 2,178,751 $ 6,489,513 $ 32,055,537
$ $ $ $ $ 1,922,173 $ 308,723 $ 2,230,896 $ 2,230,896
15,421
215
510,372
120,402
259,397 259,397 679,092
361,204
87,289
259,397 259,397 1,922,173 308,723 2,230,896 4,004,891
611 ,245 1,397,779 2,009,024 2,021,592
9,506,257
3,030,431
223,452 4,391,667 268,333 4,883,452 4,883,452
83,113 593,229 52,286 728,628 728,628
855,916 855,916 855,916
4,744,343
30,434 30,434 30,434
1,777 ,344 472,249 2,249,593 2,249,593
1,162,481 4,984,896 351,053 6,498,430 2,388,589 1,870,028 4,258,617 28,050,646
$ 1,162,481 $ 4,984,896 $ 610,450 $ 6,757,827 $ 4,310,762 $ 2,178,751 $ 6,489,513 $ 32,055,537
77
City of Clearwater, Florida
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances
Nonmajor Governmental Funds
For the Year Ended September 30, 2003
Special Revenue Funds
Improvement
Community Local Housing Revenue
Special Redevelopment Assistance Refunding
Programs Agency Trust Total Bonds
REVENUES
Intergovernmental $ 3,662,056 $ 465,516 $ 921,989 $ 5,049,561 $
Charges for services 471,755 471,755
Fines and forfeitures 584,405 584,405
Interest income 112,916 23,520 41,069 177 ,505 56,067
Miscellaneous 1,971,609 73,035 2,044,644
Total revenues: 6,802,741 562,071 963,058 8,327,870 56,067
EXPENDITURES
Current:
General government 45,833 45,833
Public safety 1,988,784 1 ,988,784
Physical environment 143,317 143,317
Economic environment 1,830,983 223,015 439,396 2,493,394
Human services 127,128 127,128
Culture and recreation 1,771,484 1,771,484
Debt service:
Principal 331,132
Interest & fiscal charges 503,644
Bond issuance costs
Capital outlay 715,080 715,080
Total expenditures 6,622,609 223,015 439,396 7,285,020 834,776
Excess (deficiency) of revenues
over / (under) expenditures 180,132 339,056 523,662 1,042,850 (778,709)
OTHER FINANCING SOURCES (USES)
Transfers in 1,190,462 375,033 1,565,495 778,315
Transfers out (356,073) (723,258) (143,727) (1,223,058)
Sale of capital assets 925,000 925,000
Total oth,er financing sources (uses) 1,759,389 (348,225) (143,727) 1,267,437 778,315
Net change in fund balances 1,939,521 (9,169) 379,935 2,310,287 (394)
Fund balances - beginning 9,690,933 21,737 5,270,642 14,983,312 1,162,875
Fund balances - ending $ 11,630,454 $ 12,568 $ 5,650,577 $ 17,293,599 $ 1,162,481
The notes to the financial statements are an integral part of this statement.
78
Debt Service Funds Capital Project Funds
Infrastructure Spring Total
Sales Tax Notes Training Community NonmaJor
Revenue and Facility Sales Tax Sports Governmental
Bonds Mortgages Revenue Bonds Total Revenue Complex Total Funds
$ 3,000,000 $ $ 1,087,654 $ 4,087,654 $ $ $ $ 9,137,215
471,755
584,405
138,989 27,027 222,083 250,421 303,548 553,969 953,557
2,044,644
3,138,989 1,114,681 4,309,737 250,421 303,548 553,969 13,191,576
45,833
1,988,784
143,317
2,493,394
127,128
1,771,484
5,100,000 1,325,173 165,000 6,921,305 6,921,305
1,881,688 155,804 601 ,048 3,142,184 3,142,184
6,755 (2,420) 4,335 4,335
9,697,170 9,428,254 19,125,424 19,840,504
6,988,443 1,480,977 763,628 10,067,824 9,697,170 9,428,254 19,125,424 36,478,268
(3,849,454) (1,480,977) 351,053 (5,758,087) (9,446,749) (9,124,706) (18,571,455) (23,286,692)
3,923,121 1,480,977 6,182,413 6,692 6,692 7,754,600
(1,802,529) (1,802,529) (3,025,587)
925,000
3,923,121 1,480,977 (1,802,529) 4,379,884 6,692 6,692 5,654,013
73,667 (1,451,476) (1,378,203) (9,446,749) (9,118,014) (18,564,763) (17,632,679)
4,911,229 1,802,529 7,876,633 11,835,338 10,988,042 22,823,380 45,683,325
$ 4,984,896 $ $ 351,053 $ 6,498,430 $ 2,388,589 $ 1,870,028 $ 4,258,617 $ 28,050,646
79
City of Clearwater, Florida
Schedule of Revenues, Expenditures, and Changes in Fund Balances -
Budget and Actual (GAAP Basis)
Community Redevelopment Agency
For the Year Ended September 30, 2003
Variance with
Budgeted Amounts Final Budget
Actual Positive
Original Final Amounts (Negative)
REVENUES
Intergovernmental $ 459,562 $ 465,516 $ 465,516 $
Interest income 15,000 15,000 23,520 8,520
Miscellaneous 63,275 63,275 73,035 9,760
Total revenues 537,837 543,791 562,071 18,280
EXPENDITURES
Current - Economic environment 413,755 405,655 223,015 182,640
Total expenditures 413,755 405,655 223,015 182,640
Excess of revenues over expenditures 124,082 138,136 339,056 200,920
OTHER FINANCING SOURCES (USES)
Transfers in 354,160 375,033 375,033
Transfers out (478,242) (513,169) (723,258) (210,089)
Total other financing sources (uses) (124,082) (138,136) (348,225) (210,089)
Excess of revenues and other sources
over expenditures and other uses (9,169) (9,169)
Fund balances - beginning 21,737 21,737 21,737
Fund balances - ending $ 21,737 $ 21,737 $ 12,568 $ (9,169)
The notes to the financial statements are an integral part of this statement.
81
Nonmajor Enterprise Funds
Enterprise funds are used to account for the financing, acquisition, operation, and maintenance of
governmental facilities that are supported primarily by user charges.
Recycling Utility Fund - to account for the financing, processing, operation and maintenance of the City's
recycling service from charges made to users of the services and funds received from the sale of recyclable
commodities processed to meet market requirements. The service area extends beyond the City limits
Marine & Aviation Fund - to account for the financing, operation and maintenance of the City marina and
associated real property on Clearwater Beach from rents collected from users; and to account for the City's
airpark operations.
Parking System Fund - to account for the financing, construction, operation and maintenance of the City's
parking system, including on- and off-street parking on Clearwater Beach and Downtown Clearwater, from
parking charges.
Harborview Center Fund - to account for the operation of the City's convention center and related facilities.
83
City of Clearwater, Florida
Combining Statement of Net Assets
Nonmajor Enterprise Funds
September 30, 2003
Recycling Marine & Parking Harborvlew
Utility Aviation System Center Total
ASSETS
Current assets:
Cash on hand and in banks $ $ 817 $ 22,050 $ 200 $ 23,067
Equity in pooled cash and investments 1,585,485 253,342 1,844,689 3,683,516
Accounts and contracts receivable:
Billed 72,864 26,750 247,006 346,620
Unbilled charges estimated 119,823 119,823
192,687 26,750 247,006 466,443
Less: Allowance for uncollectable accounts (2,863) (2,863)
Total receivables, net 189,824 26,750 247,006 463,580
Due from other funds 1,087,539 1,143,773 3,153,239 25,409 5,409,960
Inventories, at cost 19,018 19,018
Total current assets - unrestricted 2,862,848 1,443,700 5,019,978 272,615 9,599,141
Current assets - restricted:
Restricted equity in pooled cash 16,817 16,817
Investments 136 136
Total current assets - restricted 16,953 16,953
Total current assets 2,862,848 1,443,700 5,036,931 272,615 9,616,094
Noncurrent assets:
Restricted:
Investments 9,394 9,394
Due from other funds 7,500,000 7,500,000
Deferred charges 483 483
Net pension asset 266,097 178,997 172,476 617,570
Capital assets:
Land and other nondepreciable assets 1,120,656 926,000 2,046,656
Capital assets, net of accumulated depreciation 1,503,733 2,239,619 2,219,860 9,303,148 15,266,360
Total noncurrent assets 1,769,830 2,418,616 11,022,869 10,229,148 25,440,463
Total assets 4,632,678 3,862,316 16,059,800 10,501,763 35,056,557
LIABILITIES
Current liabilities:
Accounts and contracts payable 16,606 32,063 18,846 197,995 265,510
Accrued payroll 20,054 21,859 26,690 68,603
Due to other funds 59,602 59,602
Due to other funds - deficit in pooled cash 71,583 71,583
Deposits 20,583 1,963 111,986 134,532
Deferred revenue and liens 4,194 4,194
Current portion of long-term liabilities:
Compensated absences 3,574 5,677 3,825 13,076
Revenue bonds 8,274 8,274
Notes, loan pool agreement and acquisition contracts 50,910 161,433 212,343
Total current liabilities (payable from current assets) 91,144 139,784 225,225 381 ,564 837,717
Current liabilities (payable from restricted assets):
Accrued interest payable 406 406
Current portion of long-term liabilities, revenue bonds 16,547 16,547
Total current liabilities payable from restricted assets 16,953 16,953
Total current liabilities 91,144 139,784 242,178 381,564 854,670
Noncurrent liabilities:
Compensated absences 32,523 51,663 34,809 118,995
Revenue bonds (net of unamortized discounts and
deferred amount on refunding) 53,773 53,773
Notes, loan pool agreement and acquisition contracts 292,351 265,302 557,653
Advances from other funds 59,602 4,000,000 4,059,602
Total non-current liabilities 324,874 111 ,265 4,353,884 4,790,023
Total liabilities 416,018 251,049 4,596,062 381,564 5,644,693
Net assets:
Invested in capital assets, net of related debt 1,160,472 2,120,415 2,835,670 10,229,148 16,345,705
Restricted for:
Revenue bond debt service and sinking fund requirements 9,394 9,394
Employees' pension benefits 266,097 178,997 172,476 617,570
Unrestricted 2,790,091 1,311,855 8,446,198 (108,949) 12,439,195
Total net assets $ 4,216,660 $ 3,611,267 $ 11,463,738 $ 10,120,199 $ 29,411,864
The notes to the financial statements are an integral part of this statement.
84
City of Clearwater, Florida
Combining Statement of Revenues, Expenses, and Changes in Fund Net Assets
Nonmajor Enterprise Funds
For the Year Ended September 30, 2003
Recycling Marine & Parking Harborview
Utility Aviation System Center Totals
Operating revenues:
Sales to customers $ 940,935 $ 1,676,543 $ $ $ 2,617,478
Service charges to customers 8,862 182,300 191,162
User charges to customers 1,477,390 79,937 3,788,296 5,345,623
Rentals 1,236,541 4,525 1,602,708 2,843,774
Total operating revenues 2,427,187 2,993,021 3,975,121 1,602,708 10,998,037
Operating expenses:
Personal services 831,665 892,777 910,174 2,634,616
Purchases for resale 259,908 1,321,020 842,896 2,423,824
Operating materials and supplies 72,554 118,449 103,427 18,744 313,174
Transportation 252,158 6,222 50,373 5,607 314,360
Utility service 6,622 141,682 38,283 148,224 334,811
Depreciation 186,000 278,872 226,443 553,930 1,245,245
Interfund administrative charges 441,900 217,660 616,590 8,760 1,284,910
Other current charges:
Professional fees 3,750 45,288 897,285 742,704 1,689,027
Advertising 8,484 9,926 1,082 8,297 27,789
Communications 5,698 24,112 12,406 22,780 64,996
Printing and binding 2,251 4,717 2,073 9,041
Insurance 41,380 58,000 32,040 23,555 154,975
Repairs and maintenance 16,873 52,480 20,367 64,798 154,518
Rentals 852 2,665 170,075 4,180 177,772
Miscellaneous 13,783 47,229 403 16,315 77,730
Data processing charges 29,500 30,540 29,960 23,750 113,750
Taxes 125 15,813 15,938
Provision for estimated uncollectable accounts 2,314 15,000 17,314
Total other current charges 122,634 272,616 1,168,335 939,265 2,502,850
Total operating expenses 2,173,441 3,249,298 3,113,625 2,517,426 11,053,790
Operating income (loss) 253,746 (256,277) 861,496 (914,718) (55,753)
Nonoperating revenues (expenses):
Eamings on investments 56,354 25,555 306,918 1,674 390,501
Interest expense (523) (5,822) (155,831) (162,176)
Amortization of bond discount and issue costs (991) (991)
Gain (loss) on exchange of assets (9,708) (9,708)
Other 131,523 27,677 57,918 217,118
Total nonoperating revenue (expenses) 55,831 151,256 177,773 49,884 434,744
Income (loss) before transfers 309,577 (105,021) 1,039,269 (864,834) 378,991
Capital grants and contributions 568,196 568,196
Transfers in 625,050 625,050
Transfers out (99,830) (176,590) (119,927) (396,347)
Changes in net assets 209,747 286,585 919,342 (239,784) 1,175,890
Total net assets - beginning 4,006,913 3,324,682 10,544,396 10,359,983 28,235,974
Total net assets - ending $ 4,216,660 $ 3,611,267 $ 11,463,738 $ 10,120,199 $ 29,411,864
The notes to the financial statements are an integral part of this statement.
85
City of Clearwater, Florida
Combining Statement of Cash Flows
Nonmajor Enterprise Funds
For the Year Ended September 30, 2003
Recycling Marine & Parking Harborvlew
Utility Aviation System Center Totals
CASH FLOWS FROM OPERATING
ACTIVITIES
Cash received from customers $ 2,434,247 $ 2,994,792 $ 3,976,323 $ 1,546,282 $ 10,951,644
Cash payments to suppliers (414,555) (1,986,089) (1,165,993) (2,307,682) (5,874,319)
Cash payments to employees (890,933) (907,437) (927,264) (2,725,634)
Cash payments to other funds (741,136) (121,125) (725,381) (77,380) (1,665,022)
Other revenues 131,523 27,677 57,918 217,118
Net cash provided (used) by operating activities 387,623 111,664 1,185,362 (780,862) 903,787
CASH FLOWS FROM NONCAPITAL
FINANCING ACTIVITIES
Transfers in from other funds 625,050 625,050
Transfers out to other funds (99,830) (176,590) (119,927) (396,347)
Receipt of cash on loans to/from other funds 71,583 71,583
Payment of cash on loans to/from other funds (19,867) (214,301 ) (1,539,073) (25,409) (1,798,650)
Net cash provided (used) by
non capital financing activities (119,697) (390,891 ) (1,659,000) 671,224 (1.498,364)
CASH FLOWS FROM CAPITAL AND
RELATED FINANCING ACTIVITIES
Principal payments on debt (3,637) (160,618) (164,255)
Interest paid (523) (5,822) (155,950) (162,295)
Acquisition of fixed assets (507,702) (521,447) (14,173) (1,043,322)
Proceeds from issuance of debt 333,456 333,456
Capital contributed by other governmental entities 562,796 562,796
Net cash provided (used) by capital and
related financing activities (178,406) 35,527 (330,741) (473,620)
CASH FLOWS FROM INVESTING
ACTIVITIES
Interest on investments 56,354 25,555 306,918 1,674 390,501
Net cash provided by investing activities 56,354 25,555 306,918 1,674 390,501
Net increase (decrease) in cash and cash equivalents 145,874 (218,145) (497,461) (107,964) (677,696)
Cash and cash equivalents at beginning of year 1,439,611 472,304 2,380,573 108,164 4,400,652
Cash and cash equivalents at end of year $ 1,585,485 $ 254,159 $ 1,883,112 $ 200 $ 3,722,956
Cash and cash equivalents classified as:
Cash on hand and in banks $ $ 817 $ 22,050 $ 200 $ 23,067
Equity in pooled cash and investments 1 ,585.485 253,342 1,844,689 3,683,516
Restricted equity in pooled cash and investments 16,373 16,373
Total cash and cash equivalents $ 1,585,485 $ 254,159 $ 1,883,112 $ 200 $ 3,722,956
The notes to the financial statements are an integral part of this statement.
86
City of Clearwater, Florida
Combining Statement of Cash Flows
Nonmajor Enterprise Funds
For the Year Ended September 30, 2003
Recycling
Utility
Marine &
Aviation
Parking
System
Harborview
Center
Totals
Reconciliation of operatIng income (loss) to net
cash provided (used) by operating activities:
Operating income (loss) $ 253,746 $ (256,277) $ 861,496 $ (914,718) $ (55,753)
Adjustments to reconcile operating income (loss)
to net cash provided (used) by operating activities:
Other revenue from nonoperating
section of income statement 131,523 27,677 57,918 217,118
Depreciation 186,000 278,872 226,443 553,930 1,245,245
Non-cash land rental expense 103,498 103,498
Provision for uncollectible accounts (917) (917)
Change in assets and liabilities:
Decrease (Increase) in accounts receivable 10,291 (50,749) (40,458)
Decrease in inventory 7,390 7,390
(Decrease) in accounts and contracts payable (2,229) (36,954) (17,864) (421,566) (478,613)
Increase (decrease) in deposits 1,770 (100) 6,823 8,493
Increase (decrease) in deferred revenue 1,302 (12,500) (11,198)
(Increase) in net pension asset (44,743) (32,022) (29,390) (106,155)
Increase (decrease) in accrued payroll (14,525) 17,362 12,300 15,137
Total adjustments 133,877 367,941 323,866 133,856 959,540
Net cash provided (used) by operating activities $ 387,623 $ 111,664 $ 1,185,362 $ (780,862) $ 903,787
Noncash Investing, capital and financing activities:
Loss on exchange of assets $ $ $ $ (9,708) $ (9,708)
Asset contributions from general government $ $ 5,400 $ $ $ 5,400
Amortization of bond issue costs $ $ $ (257) $ $ (257)
Amortization of discount on bond issuance $ $ $ (728) $ $ (728)
AmOrtization of deferred loss on defeasance of debt $ $ $ (965) $ $ (965)
Increase in net pension asset $ 44,743 $ 32,022 $ 29,390 $ $ 106,155
87
Internal Service Funds
Internal service funds are used to account for services and commodities furnished by a designated
department to other departments within the City or to other governments on a cost reimbursement basis.
Garage Fund - to account for the cost of automotive and other motorized equipment of the City. The
acquisition cost of new or upgraded equipment is financed through user departments and the asset value is
simultaneously contributed to the Garage Fund. The cost of replacement of existing equipment is financed by
the Garage Fund.
Administrative Services Fund - to account for various support activities including information technology,
printing, mailing, and telephone services. The cost for these services is charged to user departments based
on the cost of providing units of service.
General Services Fund - to account for various support activities including building maintenance and custodial
services for all City departments and facilities. The cost for these services is charged to user departments
based on the cost of providing units of service.
Central Insurance Fund - to account for the City's limited self-insurance program wherein all funds are
assessed charges based on damage claims incurred and on management's assessment of individual funds'
risk exposure. All claims and premiums are paid out of this fund, together with other costs necessary to
administer the program. Medical insurance premiums are also paid from this fund.
89
City of Clearwater, Florida
Combining Statement of Net Assets
Internal Service Funds
September 30, 2003
Garage Administrative General Central
Fund Services Services Insurance Total
ASSETS
Current assets:
Cash on hand and in banks $ $ 1,900 $ $ $ 1,900
Equity in pooled cash and investments 4,081,388 1 ,243,155 491,704 21,505,812 27,322,059
Due from other funds 1,050,696 194,980 650,127 1,895,803
Inventories, at cost 220,491 220,491
Prepaid expenses and other assets 618,058 618,058
Total current assets 4,301,879 2,295,751 686,684 22,773,997 30,058,311
Noncurrent assets:
Interest receivable 5,793 5,793
Advances to other funds 4,012,876 4,012,876
Net pension asset 566,548 1,050,405 376,608 99,331 2,092,892
Capital assets:
Land and other nondepreciable assets 696,681 696,681
Capital assets, net of accumulated depreciation 13,868,106 2,583,256 141,688 34,554 16,627,604
Total noncurrent assets 15,137,128 3,633,661 518,296 4,146,761 23,435,846
Total assets 19,439,007 5,929,412 1,204,980 26,920,758 53,494,157
LIABILITIES
Current liabilities:
Accounts. and contracts payable 5,000 6,250 5,000 233,845 250,095
Accrued payroll 47,709 86,856 32,730 9,413 176,708
Due to other funds 2,088 362,724 364,812
Deferred revenue 1,212,306 1,212,306
Current portion of long-term liabilities:
Compensated absences 10,105 29,146 7,531 2,817 49,599
Notes, loan pool agreement and acquisition contracts 2,446,495 252,692 4,759 2,703,946
Claims payable 3,678,100 3,678,100
Total current liabilities (payable from current assets) 3,723,703 737,668 50,020 3,924,175 8,435,566
Noncurrent liabilities:
Compensated absences 91,968 265,263 68,541 25,635 451 ,407
Notes, loan pool agreement and acquisition contracts 5,388,354 322,945 16.413 5,727,712
Advances from other funds 824,882 824,882
Claims payable 9,278,382 9,278,382
Total noncurrent liabilities 5,480,322 1 ,413,090 84,954 9,304,017 16,282,383
Total liabilities 9,204,025 2,150,758 134,974 13,228,192 24,717,949
NET ASSETS
Invested in capital assets, net of related debt 6,729,938 2,007,619 120,516 34,554 8,892,627
Restricted for employees' pension benefits 566,548 1,050,405 376,608 99,331 2,092,892
Unrestricted 2,938,496 720,630 572,882 13,558,681 17,790,689
Total net assets $ 10,234,982 $ 3,778,654 $ 1,070,006 $ 13,692,566 $ 28,776,208
The notes to the financial statements are an integral part of this statement.
90
City of Clearwater, Florida
Combining Statement of Revenue, Expenses, and Changes in Fund Net Assets
Internal Service Funds
For the Year Ended September 30, 2003
Garage Administrative General Central
Fund Services ServIces Insurance Total
Operating revenues
Billings to departments $ 8,633,526 $ 8,025,826 $ 2,994,265 $ 13,071,556 $ 32,725,173
Operating expenses:
Personal services 1,791,982 3,576,373 1,465,770 390,953 7,225,078
Purchases for resale 2,025,601 2,025,601
Operating materials and supplies 280,350 196,452 229,328 4,170 710,300
Transportation 7,200 83,403 80,611 4,571 175,785
Utility service 86,946 4,887 348,307 440,140
Depreciation 3,087,902 537,343 12,551 6,569 3,644,365
Interfund administrative charges 174,810 50,780 225,590
Other current charges:
Professional fees 292,539 147,085 17,000 72,632 529,256
Advertising 100 100
Communications 25,335 1,222,636 43,453 14,212 1,305,636
Printing and binding 246 49,216 49,462
Insurance
Premiums 283,980 61,340 39,130 10,378,941 10,763,391
Claims incurred 629,014 3,528,861 4,157,875
Repairs and maintenance 570,668 906,459 9,435 1,486,562
Rentals 2,776 303,709 10,358 1,934 318,777
Miscellaneous 32,950 100,142 30,918 29,332 193,342
Data processing charges 128,360 264,720 43,940 18,830 455,850
Taxes 5,707 5,707
Total other current charges 1,400,907 2,719,516 1,091,258 14,054,277 19,265,958
Total operating expenses 8,855,698 7,168,754 3,227,825 14,460,540 33,712,817
Operating income (loss) (222,172) 857,072 (233,560) (1,388,984) (987,644)
Nonoperating revenues (expenses)
Earnings on investments 84,347 46,848 23,396 690,461 845,052
Interest expense (270,346) (43,184) (634) (314,164)
Gain (loss) on exchange of assets 234,329 (150,671) (4,080) 79,578
Other 231,132 7,467 238,599
Total nonoperating revenue (expenses) 279,462 (139,540) 18,682 690,461 849,065
Income (loss) before transfers 57,290 717,532 (214,878) (698,523) (138,579)
Capital grants and contributions 7,722 60,000 67,722
Transfers in 549,577 238,477 788,054
557,299 60,000 238,477 855,776
Change in net assets 614,589 777,532 (214,878) (460,046) 717,197
Total net assets - beginning 9,620,393 3,001,122 1 ,284,884 14,152,612 28,059,011
Total net assets - ending $ 10,234,982 $ 3,778,654 $ 1,070,006 $ 13,692,566 $ 28,776,208
The notes to the financial statements are an integral part of this statement.
91
,--
City of Clearwater, Florida
Combining Statement of Cash Flows
Internal Service Funds
For the Year Ended September 30, 2003
Garage Adm in istrative General Central
Fund Services Services Insurance Total
CASH FLOWS FROM OPERATING
ACTIVITIES
Cash received from other funds $ 8,633,526 $ 8,025,826 $ 2,994,265 $ 13,071,556 $ 32,725,173
Cash payments to suppliers (3,924,369) (2,389,993) (1,515,825) (11,489,779) (19,319,966)
Cash payments to employees (1,877,375) (3,722,861 ) (1,518,245) (406,243) (7,524,724)
Cash payments to other funds (198,807) (691,897) (229,019) (44,511) (1,164,234)
Other revenues 231,132 7,467 238,599
Net cash provided (used) by operating activities 2,864,107 1,228,542 (268,824) 1,131,023 4,954,848
CASH FLOWS FROM NONCAPITAL
FINANCING ACTIVITIES
Transfers in from other funds 549,577 60,000 238,477 848,054
Receipt of cash on loans to/from other funds 181,614 109,587 1,083,465 1,374,666
Payment of cash on loans to/from other funds (138,839) (1,361,488) (1,500,327)
Net cash provided (used) by
noncapital financing activities 731,191 (78,839) 109,587 (39,546) 722,393
CASH FLOWS FROM CAPITAL AND
RELATED FINANCING ACTIVITIES
Principal payments on debt (2,379,382) (241,910) (2,621,292)
Interest paid (270,346) (43,184) (634) (314,164)
Acquisition of fixed assets (3,684,198) (712,077) (21,824) (4,418,099)
Sale of fixed assets 242,462 242,462
Proceeds from issuance of debt 2,618,833 112,905 (4,510) 2,727,228
Net cash (used) by capital and
related financing activities (3,472,631 ) (884,266) (26,968) (4,383,865)
CASH FLOWS FROM INVESTING
ACTIVITIES
Interest on investments 84,347 46,848 23,396 690,461 845,052
Net cash provided by investing activities 84,347 46,848 23,396 690,461 845,052
Net increase (decrease) in cash and cash equivalents 207,014 312,285 (162,809) 1,781,938 2,138,428
Cash and cash equivalents at beginning of year 3,874,374 932,770 654,513 19,723,874 25,185,531
Cash and cash equivalents at end of year $ 4,081,388 $ 1,245,055 $ 491,704 $ 21,505,812 $ 27,323,959
Cash and cash equivalents classified as:
Cash on hand and in banks $ $ 1,900 $ $ $ 1,900
Equity in pooled cash and investments 4,081,388 1,243,155 491,704 21,505,812 27,322,059
Total cash and cash equivalents $ 4,081,388 $ 1,245,055 $ 491,704 $ 21,505,812 $ 27,323,959
The notes to the financial statements are an integral part of this statement.
92
City of Clearwater, Florida
Combining Statement of Cash Flows
Internal Service Funds
For the Year Ended September 30, 2003
Garage Administrative General Central
Fund Services Services Insurance Total
Reconciliation of operating Income (loss) to net
cash provided (used) by operating activities:
Operating income (loss) $ (222,172) $ 857,072 $ (233,560) $ (1,388,984) $ (987,644)
Adjustments to reconcile operating income (loss)
to net cash provided (used) by operating activities:
Other revenue from nonoperating
section of income statement 231,132 7,467 238,599
Depreciation 3,087,902 537,343 12,551 6,569 3,644,365
Change in assets and liabilities:
(Increase) in inventory (34,916) (34,916)
Decrease in prepaid expenses 921,027 921,027
Increase (decrease) in accounts and contracts payable (112,446) (26,852) 4,660 1,607,701 1,473,063
(Increase) in net pension asset (91,240) (183,358) (61,849) (19,739) (356,186)
Increase In accrued payroll 5,847 36,870 9,374 4,449 56,540
Total adjustments 3,086,279 371,470 (35,264) 2,520,007 5,942,492
Net cash provided (used) by operating activities $ 2,864,107 $ 1,228,542 $ (268,824) $ 1,131,023 $ 4,954,848
Noncash investing, capital and financing activities:
Gain (loss) on exchange of assets $ 234,329 $ (143,681 ) $ (4,080) $ $ 86,568
Asset contributions from general government $ 7,722 $ $ $ $ 7,722
Asset contributions to general government $ $ (6,990) $ $ $ (6,990)
Contributed assets per radio lease agreement $1,101,825 $ $ $ $ 1,101,825
Increase in net pension asset $ 91,240 183,358 $ 61,850 $ 19,738 $ 356,186
The notes to the financial statements are an integral part of this statement.
93
Fiduciary Funds
Fiduciary Funds are used to account for resources that are managed in a trustee capacity or as an agent for
other parties or funds.
Employees' Pension Fund - to account for the financial operation and condition of the major employee
retirement system.
Firemen's Relief and Pension Fund - to account for the financial operation and condition of the Firemen's
Relief and Pension Fund, closed to new members in 1962, containing 48 retired members and no active
members.
Police Supplemental Pension Fund - to account for the financial operation and condition of a supplemental
pension plan funded by the State for sworn police officers.
Firefighters Supplemental Pension Fund - to account for the financial operation and condition of a
supplemental pension plan funded by the State for firefighters.
Treasurer's Escrow Agency Fund - to account for the receipt, custody, and expenditure of funds held
temporarily in trust for other parties.
95
City of Clearwater, Florida
Combining Statement of Fiduciary Net Assets
Fiduciary Funds
September 30, 2003
Defined Benefit Defined Contribution
Pension Trust Funds Pension Trust Funds
Police Firefighters
Employees' Firemen's Supplemental Supplemental Totals
ASSETS
Cash on hand and in banks $ $ $ 18,084 $ $ 18,084
Equity in pooled cash and investments 3,837,486 5,112,002 8,949,488
Managed investment accounts, at fair value 433,005,555 9,881,078 8,257,623 451,144,256
Securities lending collateral 27,627,316 27,627,316
Receivables:
Interest and dividends 610,037 55,956 29,316 695,309
Securities lending eamings 4,312 4,312
Due from others 86,986 86,986
Total receivables 614,349 55,956 116,302 786,607
Total assets 465,084,706 5,112,002 9,955,118 8,373,925 488,525,751
LIABILITIES
Accounts payable 424,038 9,793 433,831
Obligations under securities lending 27,627,316 27,627,316
Total liabilities 28,051,354 9,793 28,061,147
NET ASSETS
Net assets held in trust for pension benefits $ 437,033,352 $ 5,112,002 $ 9,955,118 $ 8,364,132 $ 460,464,604
The notes to the financial statements are an integral part of this statement.
96
City of Clearwater, Florida
Combining Statement of Changes in Fiduciary Net Assets
Fiduciary Funds
For the Year Ended September 30, 2003
Defined Benefit Defined Contribution
Pension Trust Funds Pension Trust Funds
Police Firefighters
Employees' Firemen's Supplemental Supplemental Totals
ADDITIONS
Contributions:
Contributions from employer $ 4,649,642 $ 1,211,210 $ $ $ 5,860,852
Contributions from employees 5,310,610 5,310,610
State of Florida 12,000 809,271 644,669 1 ,465,940
Total contributions 9,972,252 1,211,210 809,271 644,669 12,637,402
Investment Income:
Net appreciation (depreciation) in
fair value of investments 54,909,213 (19,256) 1,028,264 900,161 56,818,382
Interest 6,246,339 177,933 193,374 148,345 6,765,991
Dividends 1,739,962 83,265 58,244 1,881,471
62,895,514 158,677 1 ,304,903 1,106,750 65,465,844
Less investment expenses:
Investment management / custodian fees 1,735,590 72,409 71,514 1,879,513
Net Income from Investing activIties 61,159,924 158,677 1,232,494 1,035,236 63,586,331
Securities lendIng Income:
Gross earnings 115,269 115,269
Rebate paid (78,898) (78,898)
Bank fee (12,729) (12,729)
Net Income from securities lending 23,642 23,642
Total addlUons 71,155,818 1,369,887 2,041,765 1 ,679,905 76,247,375
DEDUCTIONS
Benefits and withdrawal payments:
Benefits 13,419,237 930,315 1,446,748 1,852,694 17,648,994
Withdrawal payments 581,818 581,818
Total benefits and withdrawal payments 14,001 ,055 930,315 1,446,748 1,852,694 18,230,812
Income (loss) before administrative expenses 57,154,763 439,572 595,017 (172,789) 58,016,563
Administrative expenses 136,861 5,205 37,980 18,010 198,056
Net increase (decrease) 57,017,902 434,367 557,037 (190,799) 57,818,507
Net assets held in trust for pension benefits:
Beginning of year 380,015,450 4,677,635 9,398,081 8,554,931 402,646,097
End of year $ 437,033,352 $ 5,112,002 $ 9,955,118 $ 8,364,132 $ 460,464,604
The notes to the financial statements are an integral part of this statement.
97
City of Clearwater, Florida
Statement of Changes in Assets and Liabilities
Agency Fund
For the Year Ended September 30, 2003
Balance Balance
October 1, September 30,
2002 Additions Deductions 2003
TREASURER'S ESCROW FUND
ASSETS
Equity in pooled cash and investments $ 284,162 176,679 241,065 $ 219,776
LIABILITIES
Deposits:
Property owners $ 21,944 $ 21,944
Developers 115,558 104,850 10,708
Other miscellaneous payables:
Special purpose funds 7,922 163 526 7,559
Other 138,738 176,516 135,689 179,565
Total Liabilities $ 284,162 176,679 241,065 $ 219,776
The notes to the financial statements are an integral part of this statement.
98
Capital Assets
Used in the Operation
of Governmental Funds
99
City of Clearwater, Florida
Capital Assets Used In the Operation of Governmental Funds
Comparative Schedules by Source 1
September 30, 2003 and 2002
2003
2002
Schedule of General Fixed Assets:
Land $ 43,593,863 $ 39,914,725
Buildings 49,498,895 37,933,951
Improvements other than buildings 54,078,550 52,455,386
Equipment 35,917,695 33,070,403
Infrastructure 2,225,540 1,076,247
Construction in progress 30,440,628 11,550,775
$ 215,755,171 $ 176,001,487
Sources of Investments In General Fixed Assets:
General fund revenue $ 141,237,902 $ 124,200,861
General obligation bonds 6,297,870 6,297,870
Revenue bonds 31,705,092 13,111,869
Notes, mortgages, and other obligations 3,057,044 4,910,150
Special assessments 2,012,192 2,012,192
Federal and state grants 15,639,257 10,435,417
Gifts 7,187,208 6,414,522
Contributions from developers 7,539,144 7,539,144
Undetermined investments prior to July 1, 1954 1,079,462 1,079,462
$ 215,755,171 $ 176,001,487
I This schedule presents only the capital asset balances related to governmental funds. Accordingly the capital assets
reported in internal service funds are excluded from the above amounts.
The notes to the financial statements are an integral part of this statement.
101
City of Clearwater, Florida
Capital Assets Used in the Operation of Governmental Funds
Schedule by Function and Activity 1
September 30, 2003
Improvements Machinery
Other Than and
Function and Activity Total Land Buildings Buildings Equipment Infrastructure
Fixed Assets Unallocated by Function $ 18,144,222 $ 9,958,088 $ 7,938,114 $ $ 248,020 $
General Government
Legislative 3,531 3,531
Executive 457,680 1,528 456,152
Financial & Administrative 935,649 9,679 925,970
Legal 159,010 2,106 156,904
Planning 6,285 6,285
Comprehensive Planning 12,417 12,417
Other General Government 25,809,530 6,404,795 16,169,786 131,761 3,103,188
27,384,102 6,404,795 16,183,099 131,761 4,664,447
Public Safety:
Law Enforcement 9,976,073 639,194 440,831 200,256 8,695,792
Fire Control 8,406,083 483,299 1,820,020 66,294 6,036,470
Protective Inspections 213,997 11 ,432 202,565
Emergency and Disaster Relief 403,868 88,482 315,386
Ambulance and Rescue Services 1,369,053 12,254 1,356,799
20,369,074 1,122,493 2,373,019 266,550 16,607,012
Physical Environment:
Solid Waste / Recycling 21,565 21,565
Conservation and Resource Management 90,541 76,210 14,331
Other Physical Environment 430,119 2,855 340,686 86,578
542,225 2,855 416,896 122,474
Transportation:
Road and Street Facilities 58,780,982 9,944,467 4,311,791 41,610,589 689,335 2,224,800
Parking 35,988 35,988
Other Transportation Services 528,111 1,200 171,262 148,000 206,909 740
59,345,081 9,981,655 4,483,053 41,758,589 896,244 2,225,540
Economic Environment:
Industry Development 1,428,826 1,396,655 16,901 15,270
Housing and Urban Development 698,747 329,835 293,682 75,230
Other Economic Environment 71,093 71,093
2,198,666 1,797,583 310,583 90,500
Human Services:
Other Human Services 23,377 23,377
Culture and Recreation:
Libraries 14,983,680 158,058 1,958,327 133,859 12,733,436
Parks & Recreation 36,537,273 10,120,317 15,574,159 10,364,760 478,037
Cultural Centers 28,508 993 27,515
Special Recreation Facilities 5,758,335 4,048,019 677 ,548 1,006,135 26,633
57,307,796 14,326,394 18,211,027 11,504,754 13,265,621
Total Allocated to Functions 185,314,543 $ 43,593,863 $ 49,498,895 $ 54,078,550 $ 35,917,695 $ 2,225,540
Construction in Progress 30,440,628
Total General Fixed Assets $ 215,755,171
I This schedule presents only the capital asset balances related to governmental funds. Accordingly the capital assets reported in intemal service
funds are excluded from the above amounts.
The notes to the financial statements are an integral part of this statement.
102
City of Clearwater, Florida
Capital Assets Used In the Operation of Governmental Funds
Schedule of Changes by Function and Activity 1
For the Year Ended September 30, 2003
General General
Fixed Assets Fixed Assets
10/01/02 Additions Deductions 09/30/03
Fixed Assets Unallocated by Function $ 18,144,222 $ 18,144,222
General Govemment:
Legislative 3,531 3,531
Executive 481 ,500 7,078 (30,898) 457,680
Financial & Administrative 935,649 935,649
Legal 144,794 14,216 159,010
Planning 6,285 6,285
Comprehensive Planning 4,165 8,252 12,417
Other General Government 25,556,599 268,370 (15,439) 25,809,530
27,132,523 297,916 (46,337) 27,384,102
Public Safety:
Law Enforcement 8,565,028 1,772,846 (361,800) 9,976,074
Fire Control 4,956,823 3,449,259 8,406,082
Protective Inspections 180,565 33,432 213,997
Emergency and Disaster Relief 403,868 403,868
Ambulance and Rescue Services 1,359,806 18,242 (8,995) 1,369,053
15,466,090 5,273,779 (370,795) 20,369,074
Physical Environment:
Solid Waste / Recycling 15,940 5,625 21,565
Conservation and Resource Management 90,541 90,541
Other Physical Environment 394,908 35,211 430,119
501,389 40,836 542,225
Transportation:
Road and Street Facilities 57,074,460 1,859,203 (152,681) 58,780,982
Parking 35,988 35,988
Other Transportation Services 502,091 51,474 (25,454) 528,111
57,612,539 1,910,677 (178,135) 59,345,081
Economic Environment:
Industry Development 1,428,826 1,428,826
Housing and Urban Development 698,747 698,747
Other Economic Environment 33,125 37,968 71,093
2,160,698 37,968 2,198,666
Human Services:
Other Human Services 23,377 23,377
Culture and Recreation:
Libraries 13,556,327 1,822,432 (395,079) 14,983,680
Parks & Recreation 24,174,314 12,540,107 (177,148) 36,537,273
Cultural Centers 28,508 28,508
Special Recreation Facilities 5,650,725 107,610 5,758,335
43,409,874 14,470,149 (572,227) 57,307,796
Total Allocated to Functions 164,450,712 22,031,325 (1,167,494) 185,314,543
Construction in Progress 11,550,775 25,031,143 (6,141,290) 30,440,628
Total General Fixed Assets $ 176,001,487 47,062,468 (7,308,784) $ 215,755,171
I This schedule presents only the capital asset balances related to governmental funds. Accordingly the capital assets
reported in internal service funds are excluded from the above amounts.
The notes to the financial statements are an integral part of this statement.
103
Supplementary
Information
105
Page 1 of 4
City of Clearwater, Florida
Continuing Disclosure - Gas System Revenue Bonds
Series 1996A, 1997 A&B, and 1998
Supplementary Information
The System:
Rates, Fees and Charges
The City Commission has established a schedule of rates and charges by ordinance, which includes a
purchased gas cost adjustment provision allowing the City to pass-through to customers any increase or
decrease in the purchased price of gas. The City is not subject to regulation by any State agency in
establishing or revising its rates. Where competitive fuel sources or transportation service are available to
the customer, the City Commission has authorized the City Manger to enter into contract gas service rates
at special rates and/or conditions as required to obtain/retain the customer load. Such contract service
must meet the normal construction feasibility formula to insure profitable payback to the City. As of
September 30, 2003, contract rates applied to 737 customer accounts and impacted 30.28% of total
revenues.
The rates charged by the System through September 30, 1996, were part of the Phase I Gas Rate Case
implemented October 1, 1995, which was based on a comprehensive cost of service study performed by
the Utility Advisory Services Group of the international accounting firm of Coopers & Lybrand, LLP (the
"Rate Study"). This Phase I implementation resulted in an extensive overhaul of the Gas System
customer rates, providing numerous classes of service and a modernized billing methodology.
The new rates, effective October 1, 1996, were designed to be industry-based and responsive to the
competitive energy challenges. The goal of the Rate Study was to establish rates which would be fair to
all classes of customers, provide funding to implement planned expansion in both existing northern
Pine lias County services area and into the newly acquired southwestern Pasco service area, and provide
an adequate growth potential in return to the City of Clearwater to further offset the ad valorem tax rates
(current impact is about 0.5 mills).
As the result of experiences during the first seven months of the Phase I implementation, adjustments
made to the Phase II rates were implemented October 1, 1996 and additional adjustments (Phase III) were
implemented effective October 1, 1997. The total projected impact of both new phases of the rate case is
$1.05 million or less than 7.9% of total gas sales revenues.
The rate ordinance containing the Phase II and Phase III rate changes was approved by the City
Commission on June 6, 1996.
106
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Continuing Disclosure. Gas System Revenue Bonds
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Supplementary Information
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City of Clearwater, Florida
Continuing Disclosure - Gas System Revenue Bonds
Series 1996A, 1997 A&B, and 1998
Supplementary Information
Service Area
The Clearwater Gas System (CGS) is owned and operated as an enterprise utility by the City of
Clearwater. CGS operates over 685 miles of underground gas main and handles the supply and
distribution of both natural and propane (LP) gas throughout northern Pinellas County and western Pasco
County. As a "full service" gas utility, CGS provides gas appliance sales, service and repair (both
commercial and residential), installation of customer gas piping, construction and maintenance of
underground gas mains and service lines, and 24 hour response to any gas emergency call within the
service area. CGS is regulated for safety by the Florida Public Service Commission and the Federal
Department of Transportation.
CGS has been serving customers in the Clearwater area for over 80 years (since 1923) when operations
were begun with a manufactured gas plant operation from coal and coke. In 1959, when natural gas
transmission lines were finally extended to the Florida peninsula, CGS discontinued manufacturing gas
and began receiving piped natural gas from Florida Gas Transmission.
Clearwater Gas System serves over 17,275 customers in a 298 square mile service territory, which
includes 17 municipalities as well as the unincorporated areas of northern Pinellas County and western
Pasco County. The Pinellas County service territory is 181 square miles and extends generally from
Ulmerton and Walsingham Roads on the South to the Pasco County line on the North and from the Gulf of
Mexico on the West to the Hillsborough County line on the East. This includes all of the Pinellas beach
communities south to Redington Beach. The Pasco County service territory is 117 square miles and
extends from the Gulf of Mexico on the West inland about 10 miles to just West of State Road 41 and Land
0' Lakes (generally along the right-of-way of the Suncoast Parkway) and from the Pinellas and
Hillsborough County lines on the South to generally State Road 52 on the North. The CGS service
territory extends 42.3 miles from the southernmost to the northernmost points.
Clearwater Gas System prides itself in being a competitive and public service-minded utility, providing
safe, economical and environmentally-friendly gas, which is made in America, available in our communities
for all of the homes and businesses in our service area, with special focus on the residential customers
who make up over 87.5% of our customer base.
108
Page 4 of 4
City of Clearwater, Florida
Continuing Disclosure - Gas System Revenue Bonds
Series 1996A, 1997 A&B, And 1998
Supplementary Information
As of September 30, 2003 the System's active natural gas customers were located as shown in the
following table:
Location
Meters
355
112
20
19
6,996
1,012
62
43
1,015
194
10
53
11
5
10
600
1,298
1,258
2,556
15,629
Belleair
Belleair Beach
Belleair Bluffs
Belleair Shores
Clearwater
Dunedin
Indian Rocks Beach
Indian Shores
Largo
New Port Richey
North Redington Beach
Oldsmar
Port Richey
Redington Beach
Redington Shores
Safety Harbor
Tarpon Springs
Unincorporated Areas Pasco
Unincorporated Areas Pinellas
Total
Percentage
2.27%
0.72%
0.13%
0.12%
44.76%
6.48%
0.40%
0.28%
6.49%
1.24%
0.06%
0.34%
0.07%
0.03%
0.06%
3.84%
8.31%
8.05%
16.35%
100.00%
The following table shows the five largest interruptible customers by peak monthly consumption anc
the percent of the System's revenues derived from such customers during the 12 months endin~
September 30, 2003:
Customer Name
Morton Plant Hospital
National Linen Services, Inc.
Metal Industries, Inc.
Mease Hospital
HCA Columbia Hospital
Peak Monthly
Therms
96,447
88,834
74,484
61,333
25,868
% of Gross
Revenues
2.05%
2.00%
1.74%
1.17%
0.92%
The following table shows the breakdown of the System's customers by category as well as the volume
of gas sold and the sales revenues generated by each category for the fiscal year ended September 30
2003:
Average No. Gas Gas
Customers Volume Sales
Interruptible 14 21.03% 10.79%
Residential 13,530 16.60% 25.27%
Commercial 2,085 62.37% 63.94%
109
Page 1 of 3
City of Clearwater, Florida
Continuing Disclosure - Water and Sewer Refunding Revenue Bonds
Series 1993 and 1998; and Revenue Bonds Series 2002
Supplementary Information
Historical Financial Information
Water System:
Source and Volume of Water Pumped
(in million gallons per day, averaged over the Fiscal Year)
FY City Wells County Total
1998 3.140 11 .540 14.680
1999 3.070 12.094 15.164
2000 3.047 11.528 14.575
2001 3.067 11 .260 14.327
2002 2.258 11 .739 13.997
2003 3.927 8.916 12.843
Historical Growth in Number of Water Customers
(all figures are as of September of the year indicated)
Year Water Customers
1998
1999
2000
2001
2002
2003
38,440
39,931
39,562
40,167
40,340
40,227
Ten Largest Water Customers
Fiscal Year Ending September 30,2003
Water Used
(in 100 Cubic Feet)
98,532
77,932
46,516
53,120
50,853
38,437
34,038
38,312
16,328
22.783
Name of User
1. Church of Scientology
2. Morton Plant Mease Hospital
3. Pine lias County Schools
4. Clearwater Housing Authority
5. United Dominion Realty Trust
6. Sheraton Sand Key
7. 880 Mandalay
8. AGH Leasing UP
9. City of Clearwater
10. Countryside Mall
Total
476.851
110
Revenues
Produced
$ 286,028
269,031
250,442
158,058
131,561
104,322
99,174
98,034
88,672
84.166
$ 1.569.488
)
Page 2 of 3
City of Clearwater, Florida
Continuing Disclosure - Water and Sewer Refunding Revenue Bonds
Series 1993 and 1998; and Revenue Bonds Series 2002
Supplementary Information
Historical Growth in Number of Sewer Customers
(as of September of the year indicated)
Fiscal Sewer
Year Customers
Sewer System:
Average Sewage Flow
Fiscal
Year
1998
1999
2000
2001
2002
2003
Annual Ave. Daily
Flow In MGD
17.9
16.5
15.4
14.4
14.3
16.2
1998
1999
2000
2001
2002
2003
Ten Largest Sewer Customers
Fiscal Year Ending September 30,2003
Sewer Used
(in 100 Cubic Feet)
74,599
41,981
83,790
50,853
44,739
38,312
33,360
32,376
28,737
22.783
Name of User
1. Morton Plant Mease Hospital
2. Pinellas County Schools
3. Church of Scientology
4. United Dominion Realty Trust
5. Clearwater Housing Authority
6. AGH Leasing UP
7. Sheraton Sand Key
8. 880 Mandalay
9. King's Savannah Trace Assoc., UP
10. Lane Clearwater UP
Total
451 530
33,174
33,383
33,075
32,933
33,215
33,215
Revenues
Produced
$ 284,350
276,207
271,005
160,919
139,130
119,075
106,897
100,610
89,372
76.328
$1 623893
Rates. Fees And Charaes
The City uses a three-tiered rate structure for water and sewer usage. The base rate includes a
minimum usage for residential and nonresidential water rates. Any usage over the minimum is
billed at one rate per 100 cubic feet up to a designated level and at a second rate for usage over
that level. For irrigation, there is a base rate, with no minimum, and a charge per 100 cubic feet of
water usage up to a designated level and a higher charge for usage over that amount. The sewer
base rate includes a minimum usage and a fixed charge per 100 cubic feet of water usage over
the basic allowance. The minimum usage and second tier usage level vary with the size of the
meters. For fiscal year 2003 there were no changes to the three-tiered rate structure for water or
sewer usage. Effective October 1, 2000 the basis for billing was converted from cubic feet to
gallons.
111
Page 3 of 3
City of Clearwater, Florida
Continuing Disclosure - Water and Sewer Refunding Revenue Bonds
Series 1993 and 1998; and Revenue Bonds Series 2002
Supplementary Information
Residential and October 1, October 1, October 1, October 1, October 1,
Nonresidential Water Rates 1999 2000 2001 2002 2003
Size of Meter Cubic Feet Gallons
Minimum- Under 1 inch 7.08 7.53 8.07 8.64 9.90
1 inch 15.93 17.57 18.83 20.16 23.10
1.5 inch 237.39 251.00 269.00 288.00 330.00
2 inch 550.47 584.83 626.77 671.04 768.90
3 or 2 inch manifold 849.60 901.09 965.71 1,033.92 1,184.70
4 inch 1,635.48 1,734.41 1,858.79 1,990.08 2,280.30
6 inch 4,200.21 4,455.25 4,774.75 5,112.00 5,857.50
8 inch 7,080.00 7,530.00 8,070.00 8,640.00 9,900.00
Additional charges are assessed for cubic feet of usage in excess of designated minimums.
Rates for Irrioation (Lawn) Meters October 1, October 1, October 1, October 1, October 1,
1999 2000 2001 2002 2003
Size of Meter Cubic Feet Gallons
Minimum- Under 1 inch 2.52 2.69 2.88 3.08 3.53
1 inch 7.57 8.07 8.64 9.24 10.59
1.5 inch 37.85 40.35 43.20 46.20 52.95
2 inch 105.99 112.99 120.96 129.36 148.26
3 or 2 inch manifold 209.45 223.27 239.04 255.64 292.99
4 inch 403.76 430.41 460.80 492.80 564..80
6 inch 1,218.85 1,299.29 1 ,391 .04 1,487.64 1,704.99
Sewer Rates October 1, October 1, October 1, October 1, October 1 ,
1999 2000 2001 2002 2003
Size of Meter Cubic Feet Gallons
Minimum- Under 1 inch 9.72 10.38 11.10 11.88 13.62
1 inch 21.87 24.22 25.90 27.72 31.78
1.5 inch 325.62 346.00 370.00 396.00 454.00
2 inch 755.73 806.18 862.10 922.68 1,057.82
3 or 2 inch manifold 1 ,166.40 1,242.14 1,328.30 1,421.64 1,629.86
4 inch 2,245.32 2,239.86 2,556.70 2,736.36 3,137.14
Sinch 5,766.39 6,141.50 6,567.50 7,029.00 8,058.50
8 inch 9,720.00 10,380.00 11,100.00 11,880.00 13,S20.00
Per 100 cubic feet of water used over 2.43 3.46 3.70 3.96 4.54
that allowed in minimum
Additional Indebtedness
Additional indebtedness incurred of $97,555 was for the lease purchase of capital equipment.
112
City of Clearwater, Florida
Continuing Disclosure - Stormwater System Revenue Bonds
Series 1999 and 2002
Supplementary Information
Rates. Fees. and Charaes
The City uses a measurement of one equivalent residential unit or ERU as the basis for the
stormwater management utility fee. The rate per ERU was unchanged from the inception of the
utility on January 1, 1991 until 1998 when annual increases were adopted for five fiscal years
beginning October 1, 1998. In November 2001, additional increases were adopted including a
change to the increase previously adopted to be effective October 1, 2002. The monthly rates at
inception and as adopted in 1998 and 2001 are:
Effective Date
January 1, 1991
October 1, 1998
October 1, 1999
October 1, 2000
October 1 , 2001
January 1, 2002
October 1, 2002
October 1, 2003
October 1 , 2004
October 1, 2005
Rate Per ERU
$3.00
$4.00
$4.17
$4.35
$4.54
$6.13
$7.16
$8.01
$8.65
$9.35
Single-family homes, multifamily units, condominium units, apartments and mobile homes are
rated as one ERU per dwelling unit. Nonresidential property is charged at the rate of 1,830
square feet of impervious area per ERU.
HISTORICAL NET REVENUES
Fiscal Years Ended Seotember 30.
1999 2000 2001 2002 2003
Net Operating Revenues (Excluding
Depreciation) $1,361,656 $1,622,157 $1,433,541 $2,793,204 $3,726,983
Interest Income and other Non-
Operating Revenues (Expenses) 46,209 132,921 281,471 95,305 206,202
Total Net Revenues $1,407,865 $1,755,078 $1,715,012 $2,888,509 $3,933,185
Maximum Annual Debt Service $520,974 $520,974 $520,974 $2,052,538 $2,052,538
Coverage 2.71 3.37 3.29 1.41 1.92
113
City of Clearwater, Florida
Continuing Disclosure - Infrastructure Sales Tax
Revenue Bonds, Series 2001
Supplementary Information
Historical Debt Service CoveraQe
2001
2002
2003
Sales tax revenues (1)
$8.339,694
$8,457,553 $8,661,615
Maximum annual debt service $7,083.688
$7,083,688 $7,049,688
Debt service coverage
1.18
1.19
1.23
(1) The Infrastructure Sales Tax Revenue Bonds, Series 2001, were issued June 1.2001 in the amount of
$46,445,000. They are secured by a lien upon and a pledge of the City's share of the proceeds derived by
Pinellas County, Florida from the levy and collection of the one-cent discretionary infrastructure sales tax
pursuant to Section 212.055(2), Florida Statutes, as amended (sales tax revenues).
City of Clearwater, Florida
Continuing Disclosure -Improvement Revenue
Refunding Bonds, Series 2001
Supplementary Information
Historical Debt Service CoveraQe
2001
2002
2003
Pledged Revenues (1)
$ 15,486,388
$18,272,521
$ 17,381,418
Maximum annual debt service $ 866,760
$ 866,760 $
865.310
Debt service coverage
17.87
21.08
20.09
(1) The Improvement Revenue Refunding Bonds, Series 2001, were issued October 15, 2001 in the
amount of $11,470,000. They were secured by a lien upon and a pledge of the Public Service Tax pursuant
to Section 166.231, Florida Statutes as amended. Effective October 1, 2001, the Florida Legislature
repealed the public service tax on telecommunications created per Section 166.231(9), Florida Statutes,
and created a simplified tax structure for communications services pursuant to Chapter 2000-260, Laws of
Florida. To the extent that the Public Service Tax receipts derived by the City pursuant to Section
166.231 (9), Florida Statutes, is eliminated as a result of this new tax, all of the revenues received by the
City pursuant to the new Communications Services Tax shall be deemed to replace the Public Service Tax
receipts so eliminated. Consequently the pledged revenues include both public service taxes and
communications services taxes effective October 1, 2001.
114
City of Clearwater, Florida
Fire Services Program
Supplementary Information
Pursuant to agreements between the City of Clearwater, the Pinellas County Fire Authority and the Pinellas
County Emergency Medical Services Authority, the City has provided fire and emergency medical services to
the respective authorities. With respect to fire services, the services are provided for the benefit of properties
located outside the corporate limits of the City, but within a designated service area. Emergency medical
services are provided for the benefit of persons residing both inside and outside the corporate limits of the
City, based on the Authority's nearest unit dispatch policy.
With respect to the Fire Services Program, a budget was prepared by Fire Department personnel covering
proposed expenditures for fiscal year ending September 30, 2003, for the Fire Department as a whole. Since
the funding for the Emergency Medical Services Program is based on the level fixed in prior years, the Fire
Services Program budget is essentially the residual obtained by deducting the approved level of funding for
the Emergency Medical Services Program from the budgeted amounts included in the total Fire Department
budget. This budget was submitted to, and duly approved by, the relevant Authority prior to the
commencement of the fiscal year. Income received from Pinellas County Fire Protection Authority and valid
program expenditures for the Fire Services Program for the fiscal year ended September 30, 2003 are
summarized below.
Total Revenue Received from Pinellas County Fire Protection Authority
$ 2,185,964
Total Fire Service Expenditures for Fiscal Year Ended September 30,2003
$ 15,786,226
The Fire Services Program does not currently utilize an equipment reserve.
115
r
Statistical Section
117
City of Clearwater, Florida
General Governmental Expenditures By Function (a)
Last Ten Fiscal Years
Fiscal General Public Physical Economic
Year Government Safety Environment Transportation Environment
1994 $6,944,313 $ 30,348,800 $ 1,461,345 $ 4,485,318 $ 944,189
1995 7,100,253 32,230,932 1,368,074 4,727,961 1,827,083
1996 8,422,146 32,473,158 1,448,830 4,935,058 1,931,839
1997 9,143,485 35,014,716 1,593,525 4,950,263 2,305,384
1998 10,149,047 36,269,061 1,926,168 5,017,921 2,918,024
1999 10,457,801 38,489,701 318,590 6,755,168 2,722,985
2000 9,126,217 41,362,225 2,245,047 5,091,703 2,177,534
2001 9,486,088 42,442,045 2,221,979 5,401,902 2,385,926
2002 10,545,629 45,920,782 2,839,608 8,940,748 3,268,188
2003 10,586,022 48,161,524 2,289,250 6,672,874 4,307,323
(a) Includes operating and capital outlay expenditures of all governmental funds.
General Governmental Expenditures By Function (a)
Fiscal Year Ending September 30,2003
Public Safety
35%
General
Government
8%
PhysIcal Env.
1.5%
General Debt
7"10
Transportation
5%
Economic
Environment
3%
I.>-
Capital Outlay
24%
Human Services
0.5%
Culture and
Recreation
16%
118
TABLE I
Culture Reporting
Human and Capital General Entity
Services Recreation Outlay Debt Totals
$ 637,739 $12,190,549 $ 9,297,004 $ 1,556,939 $ 67,866,196
760,196 13,172,327 14,059,318 2,169,809 77,415,953
693,940 13,582,796 23,283,499 2,496,111 89,267,377
794,432 14,459,550 15,703,411 4,327,382 88,292,148
893,812 15,059,753 12,700,027 2,401,704 87,335,517
934,791 16,300,735 14,783,956 2,230,312 92,994,039
633,960 16,932,942 16,885,678 2,141,246 96,596,552
699,699 18,301,610 42,676,646 2,257,198 125,873,093
565,668 20,740,013 19,594,274 4,571,463 116,986,373
576,307 22,251,601 32,271,707 10,067,824 137,184,432
Millions
Total General Governmental Expenditures
Last Ten Fiscal Years (a)
125
75
100
50
25
1994
1995 1996 1997 1998 1999 2000 2001
Fiscal Years
2002 2003
119
City of Clearwater, Florida
General Revenues By Source (a)
Last Ten Fiscal Years
Fiscal Other Licenses Fines and
Year Property Taxes (b) and Permits Forfeitures
1994 $ 21,107,231 $ 17,350,297 $ 3,047,814 $ 1,822,424
1995 17,265,880 19,012,336 3,620,891 1,756,680
1996 21 ,060,994 20,434,460 2,937,586 1,736,731
1997 21,652,492 20,706,412 3,403,879 1,592,702
1998 22,242,072 22,081,683 3,406,987 1,598,936
1999 23,293,933 22,736,582 4,241,747 1,989,510
2000 26,087,648 22,985,603 5,432,799 1,921,448
2001 27,712,010 24,187,094 4,408,637 2,015,067
2002 30,322,411 17,489,020 3,987,963 2,264,041
2003 33,927,390 17,502,509 4,838,207 2,077,633
(a) Revenues are those of all governmental funds.
(b) Includes franchise, utility and communication services taxes.
General Revenues by Source (a)
Fiscal Year Ending September 30, 2003
Other Taxes
15%
Other
Miscellaneous
3%
Investment
Earnings
2%
Fines & Forfeitures
2%
Charges for
Services
9%
Licenses and
Permits
4%
Property Taxes
29%
120
TABLE II
Inter- Charges
governmental for
Revenue Miscellaneous Services Total
$ 18,118,364 $ 3,153,097 $ 5,505,849 $ 70,105,076
19,814,366 3,627,036 5,523,544 70,620,733
20,617,058 3,835,839 5,695,288 76,317,956
23,744,019 4,427,296 6,289,164 81,815,964
24,615,308 4,581,291 7,564,833 86,091,110
26,551,416 5,518,920 7,677,873 92,009,981
26,073,855 3,253,487 8,127,038 93,881,878
33,105,406 7,011,060 9,378,667 107,817,941
44,208,496 8,775,946 10,428,964 117,476,841
41,600,441 5,406,400 10,471,361 115,823,941
Total General Revenues Last Ten Fiscal Years (a)
75
125
100
50
25
o
1994 1995 1996 1997 1998 1999 2000 2001 2002 2003
Fiscal Years
121
City of Clearwater, Florida
Property Tax levies and Collections
last Ten Fiscal Years
Fiscal Total Current Percent Delinquent
Year Tax Levy Collections (a) of Levy Collections
Collected
1994 $ 21,281,744 $ 21,154,946 99.40% $ 603,226
1995 21,458,160 21,388,692 99.68 159,918
1996 21,761,730 21,675,311 99.60 73,731
1997 22,410,181 22,281,502 99.43 80,253
1998 23,008,214 22,856,951 99.34 129,690
1999 23,951,878 23,854,396 99.59 226,812
2000 26,998,318 26,876,461 99.55 106,800
2001 28,664,112 28,567,429 99.66 77,716
2002 31,303,900 31,204,025 99.68 130,632
2003 35,153,114 35,038,555 99.67 91 ,548
(a) Collections are reported at the gross amount before any discount allowance
122
Percent Percent of
of Total Delinquent
Total Collections Outstanding Taxes to
Collections to Current Delinquent Current
Levy Taxes Levy
$ 21,758,172 102.24% $ 946,874 4.45%
21,548,610 100.42 856,443 3.99
21,749,042 99.94 868,209 3.99
22,361,755 99.78 914,383 4.08
22,986,640 99.91 935,957 4.07
24,081,208 100.54 806,626 3.37
26,983,261 99.94 821,683 3.04
28,645,145 99.93 840,651 2.93
31,334,657 100.10 809,894 2.59
35,130,103 99.93 824,673 2.35
123
TABLE III
City of Clearwater, Florida
Assessed and Estimated Actual Property Valuations
Last Ten Fiscal Years
Assessed Valuations (a)
Tax Collection Non-Exempt Personal Other Total
Year Year Real Estate Property Property(b) Taxable
1993 1994 $ 3,789,902,836 $ 390,841,880 $ 569,338 $ 4,181,314,054
1994 1995 3,782,134,930 403,392,150 580,731 4,186,107,811
1995 1996 3,820,217,710 431,622,230 592,909 4,252,432,849
1996 1997 3,918,747,480 457,182,870 628,698 4,376,559,048
1997 1998 3,999,483,300 493,752,640 1,026,819 4,494,262,759
1998 1999 4,153,719,690 537,808,800 870,404 4,692,398,894
1999 2000 4,353,493,520 549,051,160 934,183 4,903,478,863
2000 2001 4,657,074,110 550,845,380 867,947 5,208,787,437
2001 2002 5,130,069,970 557,588,870 767,087 5,688,425,927
2002 2003 5,580,157,650 524,125,950 794,789 6,105,078,389
(a) Pinellas County Property Appraiser
(b) Railroad and Telegraph Companies
(c) Includes governmental, educational, qualified religious, literary, scientific, and health care properties and
special exemptions for individual property owners. Qualified property owners are entitiled to a $25,000
Homestead Exemption based on residency requirement.
124
oJ.
TABLE IV
Percentages
Assessed
Total Total Values to Yearly Increases
Exempt(c) All Estimated
Market Taxable Total
$ 1,391,537,458 $ 5,572,851,512 100.0 % (0.2) % 1.2 %
1,455,095,094 5,641,202,905 100.0 0.1 1.2
1,480,760,538 5,733,193,387 100.0 1.6 1.6
1,508,032,959 5,884,592,007 100.0 2.9 2.6
1,555,308,467 6,049,571,226 100.0 2.7 2.8
1,657,162,640 6,349,561,534 100.0 4.4 5.0
1,751,871,312 6,655,350,175 100.0 4.5 4.8
1,899,322,835 7,108,110,272 100.0 6.2 6.8
2,170,560,750 7,858,986,677 100.0 9.2 10.6
2,451,056,137 8,556,134,526 100.0 7.3 8.9
125
City of Clearwater, Florida
Property Tax Rates All Direct and Overlapping Governments
Last Ten Fiscal Years
Fiscal Downtown
Year City Development (a) School
1994 5.1158 1.0000 9.0820
1995 5.1158 1.0000 9.3590
1996 5.1158 1.0000 9.3290
1997 5.1158 1.0000 9.1760
1998 5.1158 1.0000 9.1330
1999 5.1158 1.0000 9.1100
2000 5.5032 1.0000 8.6660
2001 5.5032 1.0000 8.4330
2002 5.5032 1.0000 8.4870
2003 5.7530 1.0000 8.4490
Property Tax Rates: Expressed as mills per $1,000 of taxable value.
Source: Pinellas County Property Appraiser
(a) A separate taxing district established by referendum which affects only downtown properties.
(b) "Other" includes Pinellas County Planning Council 0.0225; Juvenile Welfare Board 0.8117;
SW Florida Water Management District 0.4220; Pinellas Anclote River Basin 0.4000.
126
TABLE V
Emergency
Transit Medical
County District Services Other Total
5.4290 0.6697 0.8500 1.1820 23.3285
5.5850 0.6697 0.8720 1.4221 24.0236
5.5140 0.6697 0.8060 1.6308 24.0653
5.5100 0.6697 0.7520 1.6561 23.8796
5.5380 0.6697 0.7410 1.6561 23.8536
5.5380 0.6501 0.7130 1.6561 23.7830
5.8540 0.6501 0.6470 1.6572 23.9775
6.0040 0.6501 0.7470 1.6562 23.9935
6.1410 0.6501 0.6600 1.6562 24.0975
6.1410 0.6319 0.6600 1.6562 (b) 24.2911
Operating
Debt Service
Road Capital Improvements
Comm. Redevelopment Agency
Total City Tax
2003
5.2169
0.1299
0.3452
0.0610
5.7530
2002
4.9638
0.1383
0.3452
0.0559
5.5032
127
TABLE VI
City of Clearwater, Florida
Principal Taxpayers
September 30, 2003
Percentage
Type of Assessed to Total
Taxpayer Business Value * Assessed Value
Bellwether Prop. LP Ltd. Shopping Center $ 91,974,300 1.65%
California State Teachers Apartment Complex 27,600,000 0.49%
Taylor, John S. III Landowner 27,401,700 0.49%
Weingarten Nostat Inc. Shopping Center 24,939,600 0.45%
Sand Key Association Ltd. Hotel 24,000,000 0.43%
Clearwater Land Co. Adult Congregate Facility 23,848,700 0.43%
St. Joe Co Office Building 23,549,300 0.42%
Northwood Plaza Shopping Center 22,309,100 0.40%
ZOM Bayside Arbors Ltd. Apartment Complex 19,268,000 0.35%
Furnary, Stephen J. Apartment Complex 19,200,000 0.34%
Sub-Total 304,090,700 5.45%
All Others 5,276,066,950 94.55%
Total $ 5,580,157,650 100.00%
* Based on non-exempt real property assessed taxable values.
Source: Pinellas County Property Appraiser, 2002 tax rolls for 2003 collections.
128
TABLE VII
City of Clearwater, Florida
Ratio of Net General Bonded Debt to Taxable Assessed Value
And Net Bonded Debt Per Capita
Last Ten Fiscal Years
Ratio of Net Net
Taxable Gross Net General General
Fiscal Assessed General Less General Bonded Debt Bonded
Year Population Value (a) Bonded SInking Bonded To Assessed Debt
(000) Debt Fund Debt Value Per Capita
1993 100,768 $4,188,105 $ 635,000 $ 286,522 $ 348,478 0.008% $ 3.46
1994 100,604 4,181,314 545,000 302,300 242,700 0.006% 2.41
1995 101,162 4,186,108 450,000 316,403 133,597 0.003% 1.32
1996 101,867 4,252,433 355,000 333,402 21,598 0.001 % 0.21
1997 102,472 4,376,559 255,000 90,000 165,000 0.004% 1.61
1998 102,874 4,494,262 135,000 101,250 33,750 0.001 % 0.33
1999 104,281 4,692,398 (b) n/a 0.00
2000 1 04,454 4,903,478 n/a 0.00
2001 108,787 5,208,787 n/a 0.00
2002 109,231 5,688,426 n/a 0.00
2003 109,719 6,105,078 n/a 0.00
(a) Values listed are for year of collections.
(b) Final maturity of General Obligation Bonds, 1978 Series, was January 1, 1999, in the amount
of $135,000.
129
TABLE VIII
City of Clearwater, Florida
Ratio of Annual Debt Service Expenditures
For General Obligation Bonded Debt
To Total General Governmental Expenditures (a)
Last Ten Fiscal Years
Ratio of
Total Debt Service
Total General to General
Fiscal Debt Governmental Governmental
Year Principal Interest (b) Service Expenditures (a) Expenditures
1994 $ 90,000 $ 33,615 $ 123,615 $ 67,866,196 0.2%
1995 95,000 28,816 123,816 77,415,953 0.2%
1996 95,000 23,114 118,114 89,267,377 0.1%
1997 100,000 17,580 117,580 88,292,148 0.1%
1998 120,000 11,280 131,280 87,335,517 0.2%
1999 135,000 3,915 138,915 92,994,039 0.1%
2000 0 0 0 96,596,552 0.0%
2001 0 0 0 125,873,093 0.0%
2002 0 0 0 116,986,373 0.0%
2003 0 0 0 137,184,432 0.0%
(a) Includes operating and capital outlay expenditures of all governmental funds.
(b) Excludes bond issuance and other costs.
130
City of Clearwater, Florida
Computation of Legal Debt Margin
September 30, 2003
Assessed Valuation of Non-Exempt Real Estate (a)
Times: Twenty Percent Limitation Per City Charter
Equals Legal Indebtedness Limitation
Debt Subject to Indebtedness Limitation'
Reven ue Bonds:
1996A Gas System Revenue Bonds
1997 Gas System Revenue Bonds
1998 Gas System Revenue Bonds
1993 Water and Sewer Revenue Bonds
1998 Water and Sewer Revenue Bonds
2002 Water and Sewer Revenue Bonds
1999 Stormwater system Revenue Bonds
2002 Stormwater system Revenue Bonds
2001 Infrastracture Sales Tax Revenue Bonds
2001 Improvement Revenue Refunding Bonds
2002 Spring Training Revenue Bonds
Notes, Mortgages and Contracts
Totals
Legal Indebtedness Margin
Gross
Debt
Less Sinking
Fund Assets
$ 8,270,000
11,870,000
7,860,000
14,005,000
51,924,771
58,680,000
7,150,000
24,685,000
41,345,000
11,005,000
14,645,000
13,746,259
265,186,030
7,917
43,750
2,917
9,496,000
1,561,045
4,268,135
119,167
403,333
4,391,667
1,105,310
268,333
21,667,574
(a) Valuation listed is from 2002 tax year for 2003 collections.
City of Clearwater, Florida
Computation of Direct and Overlapping Debt
September 30, 2003
TABLE IX
$ 5,580,157,650
x 20%
1,116,031,530
Net Debt
Subject to
Limitation
8,262,083
11,826,250
7,857,083
4,509,000
50,363,726
54,411,865
7,030,833
24,281,667
36,953,333
9,899,690
14,376,667
13,746,259
243,518,456
$ 872,513,074
TABLE X
Net General
Obligation Debt
Govemmental Unit Outstanding Percent Amount
City of Clearwater $ 100.0% $
Pinellas County School Board $ 66,895,235 13.6% (a) $ 9,097,752
(a) Applicable Net Debt Percentage is based on ratio of City to County Taxable values for 2003 collections
($5,580,157,650/$41,167,093,480=13.6%).
131
TABLE XI
City of Clearwater, Florida
Water and Sewer Revenue Bonds Coverage
Last Ten Fiscal Years
Net Revenues
Fiscal Gross Available for
Year Revenues (a) Expenses (b) Debt Service
1994 $ 32,529,074 $ 17,824,720 $ 14,704,354
1995 33,058,297 18,495,960 14,562,337
1996 34,814,929 22,311,433 12,503,496
1997 35,816,439 23,417,605 12,398,834
1998 36,311,233 24,608,494 11,702,739
1999 35,850,799 24,806,085 11,044,714
2000 37,406,823 25,882,873 11,523,950
2001 39,485,997 27,336.550 12,149,447
2002 39,452,012 28,551,889 10,900,123
2003 40,243,263 29,610.534 10,632,729
Debt Service Requirements
Fiscal PrinclpaVSlnking Debt Service
Year Fund Interest Total Coverage
1994 $ 2,880,000 $ 3,916,263 $ 6,796,263 2.16
1995 3,760,000 3,380,470 7,140,470 2.04
1996 3,990,000 3,186,295 7,176,295 1.74
1997 4,140,000 3,038,845 7,178,845 1.73
1998 4,305,000 2,869,738 7,174.738 1.63
1999 4,500,000 2,083,179 6,583.179 1.68
2000 4,705,000 1,581 ,403 6,286,403 1.83
2001 4,920,000 1,358,690 6,278,690 1.94
2002 5,165,000 1,117,880 6.282,880 1.73
2003 5,430,000 3,334,202 8,764,202 1.21
(a) Includes interest earnings and gross revenues of Water and Sewer Divisions of Utility System.
Extraordinary gain and contributed revenues are excluded.
(b) Excludes depreciation (and similar noncash expenses), amortization of bond discount and issue
costs, bond interest, sinking fund and reserve requirements and extraordinary loss.
Note: In April. 1993, the City issued $53,445,000 Refunding Revenue Bonds to finance the cost of
refunding entirely the series 1988A and 1988B bonds. In November, 1998, the City issued
$43,642,690 Refunding Revenue Bonds to finance the cost of refunding entirely the series 1988
bonds. In July, 2002, the City issued $58,680,000 revenue bonds for the purpose of paying the
costs of capital improvements to the City's water, wastewater collection, water pollution control
and reclaimed water systems.
132
r
Fiscal
Year
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
Fiscal
Year
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
Gross
Revenues (a)
$ 13,316,619
13,672,905
16,423,147
17,779,715
19,438,030
18,772,104
21,533,228
31,211,839
27,218,076
30,372,858
Principal
$
150,000
240,000
320,000
455,000
540,000
560,000
580,000
610,000
630,000
TABLE XI
City of Clearwater, Florida
Gas Revenue Bonds Coverage
Last Ten Fiscal Years
Expenses (b)
$ 10,220,164
10,555,346
13,199,962
14,124,064
14,975,445
14,701,728
16,462,986
24,575,414
20,664,704
23,729,436
Net Reven ues
Available for
Debt Service
$ 3,096,455
3,117,559
3,223,185
3,655,651
4,462,585
4,070,376
5,070,242
6,636,425
6,553,372
6,643,422
Maximum
Debt
Service
Coverage Coverage(c)
6.34 1.74
2.76 1.75
2.49 1.81
2.06 2.06
2.43 2.05
1.93 1.87
2.41 2.33
3.16 3.05
3.11 3.01
3.16 3.05
Debt Service Requirements
Interest Total
$ 488,020 $ 488,020
978,195 1,128,195
1,052,923 1,292,923
1,454,765 1,774,765
1,379,358 1,834,358
1,564,891 2,104,891
1,543,494 2,103,494
1,518,713 2,098,713
1,494,887 2,104,887
1 ,469,679 2,099,679
(a) Includes interest eamings and gross revenues from Gas System.
(b) Excludes depreciation (and similar noncash expenses), amortization of bond discount and issue costs,
bond interest, and reserve adjustments.
(c) Maximum debt service coverage is presented for continuing disclosure on the Gas System Revenue
Bonds, and is based upon the maximum debt service for the outstanding bonds and parity bonds.
For fiscal 2003 the maximum debt service totals $ 2, 176,810.
Note: In September, 1994, the City issued $8,110,000 Gas System Revenue Bonds, Series 1994A, for additions,
extensions, supplements or replacements of the existing gas system in Pinellas County, Florida.
Approximately $1,340,000 was to be used to develop new gas markets.
In July, 1996, the City issued $8,815,000 Gas System Revenue Bonds, Series 1996A, for additions and
extensions to the gas system in Pinellas County and Pasco County, Florida, as well as supplements and
replacements of the existing gas system in Pinellas County, Florida.
During October 1997 the City issued $ 7,895,000 Gas System Revenue Bonds, Series 1997A, for additions
extensions, supplements, or replacements of the existing gas system within Pinellas and Pasco Counties.
Also during October 1997 the City issued $6,710,000 Gas System Revenue Refunding Bonds, Series 1997B,
to advance refund the Gas system Revenue Bonds, Series 1991.
During January 1998 the City issued $ 8,020,000 Gas System Revenue Bonds, Series 1998, to advance
refund the Gas System Revenue Bonds, Series 1994A.
133
TABLE XI
Fiscal
Year
2000
2001
2002
2003
Fiscal
Year
2000
2001
2002
2003
City of Clearwater, Florida
Stormwater Revenue Bonds Coverage
Four Fiscal Years Since Issuance
Gross
Revenues (a)
$ 4,938,338
5,323,293
6,846,086
8,660,373
Net Reven ues
Available for
Debt Service
$ 1,755,078
1,715,012
2,888,509
3,933,186
Expenses (b)
$ 3,183,260
3,608,281
3,957,577
4,727,187
Debt Service Requirements
Principal/Sin king
Fund
Debt Service
Coverage
9.48
3.40
5.61
3.20
Interest
Total
185,225
504,593
515,093
1,229,070
$
$
$
105,000
120,000
125,000
185,225
399,593
395,093
1,104,070
(a) Includes interest eamings and gross revenues of the Stormwater Utility System Fund.
Extraordinary gain and contributed revenues are excluded.
(b) Excludes depreciation (and similar noncash expenses), amortization of bond discount and
issue costs, bond interest, sinking fund and reserve requirements, and extraordinary loss.
Note: In November 1999 the City issued $7,500,000 Stormwater System Revenue Bonds for the
purpose of paying the costs of capital improvements to the City's stormwater management
system. In September 2002 the City issued $24,685,000 Stormwater Revenue Bonds for
the purpose of paying the costs of capital improvements to the City's stormwater
management system. Consequently only four years of data are available as of September
30, 2003.
TABLE XI
Fiscal
Year
2001
2002
2003
City of Clearwater, Florida
Infrastructure Sales Tax Revenue Bonds Coverage
Three Fiscal Years Since Issuance
Debt Service Requirements
Sales Tax Principal/Sinking Debt Service
Revenues (a) Fund Interest Total Coverage
$ 8,339,694 $ $ $ nfa
8,457,553 1,983,688 1,983,688 4.26
8,661,615 5,100,000 1,881,688 6,981,688 1.24
(a) City's share of the revenues derived by Pinellas County, Florida from the levy and
collection of a one-cent discretionary infrastructure sales surtax pursuant to Section
212.055(2), Florida Statutes, as amended.
Note: During June 2001 the City issued $46,445,000 Infrastructure Sales Tax Revenue Bonds,
Series 2001, for the purpose of paying the costs of certain capital improvements to the
City, including, but not limited to, costs relating to road and bridge projects and a new
main public library. Consequently only three years of data are available as of September
30, 2003.
134
TABLE XI
City of Clearwater, Florida
Spring Training Facility Revenue Bonds Coverage
Three Fiscal Years (a)
Fiscal
Year
Pledged
Revenues (b)
Debt Service Requirements
Principal/Sinking
Fund (a) Interest
Total
165,000
629,080
794,080
Debt Service
Coverage
nla
nla
1.40
2001
2002
2003
$
647,912
1,147,925
1,114,681
$
$
$
(a)
Though fiscal 2002 was the year of issuance, fiscal year 2001 is disclosed as the first year that pledged revenues
were received for debt service coverage.
Includes interest earnings and payments received by the City from the State of Florida pursuant to Section 212.20,
Florida Statutes: and from Pinellas County, Florida, pursuant to an inter-local agreement dated December 1, 2000.
(b)
Note:
In September 2002 the City issued $14,810,000 Spring Training Facility Revenue Bonds for the purpose of building
a spring training facility for the Philadelphia Phillies. The City started receiving the money from both the State of
Florida and Pinellas County commencing March 2000; consequently only three years of data is available as of
September 30, 2003.
City of Clearwater, Florida
Improvement Revenue Refunding Bonds Coverage
Two Fiscal Years Since Issuance
Debt Service Requirements
Fiscal Pledged Principal/Sinking Debt Service
Year Revenues (a) Fund Interest Total Coverage
2002 $ 18,272,521 $ 110,000 $ 407,537 $ 517,537 35.31
2003 17,381,418 350,000 506,435 856,435 20.30
(a) The Improvement Revenue Refunding Bonds, Series 2001, were issued October 15, 2001 in the amount of
$11,470,000. They were secured by a lien upon and a pledge of the Public Service Tax pursuant to Section
166.231, Florida Statutes as amended. Effective October 1, 2001, the Florida Legislature repealed the public
service tax on telecommunications created per Section 166.231 (9), Florida Statutes, and created a simplified tax
structure for communications services pursuant to Chapter 2000-260, Laws of Florida. To the extent that the
Public Service Tax receipts derived by the City pursuant to Section 166.231 (9), Florida statutes, is eliminated as a
result of this new tax, all of the revenues received by the City pursuant to the new Communications Services Tax
shall be deemed to replace the Public Service Tax receipts so eliminated. Consequently the pledged revenues
include both public service taxes and communications services taxes effective October 1, 2001.
Note: During October 2001 the City issued $11,470,000 Improvement Revenue Refunding Bonds, Series 2001, for the
purpose of providing a portion of the funds necessary to defease the City's outstanding Florida Public Service Tax
and Bridge Revenue Bonds, Series 1985, and Improvement Revenue Bonds, Series 1995.
135
TABLE XII
City of Clearwater, Florida
Property Value and Construction
Last Ten Fiscal Years
Commercial Construction Residential Construction
Fiscal Number of Number of Total Assessed
Year Permits Value Permits Value Property Value (a)
1994 1,077 $ 66,558,783 4,662 $ 21,151,330 $ 5,572,851,512
1995 1,391 120,116,220 5,832 27,199,318 5,641,202,905
1996 1,860 43,299,453 6,527 32,039,292 5,733,193,387
1997 1,762 94,445,784 6,605 36,259,408 5,884,592,007
1998 1,392 52,983,592 7,253 50,906,470 6,049,571,226
1999 1,821 90,770,055 5,624 37,677,855 6,349,561,534
2000 2,667 177,569,812 5,485 30,376,636 6,555,350,175
2001 2,312 164,701,145 5,512 34,182,620 7,108,110,272
2002 2,196 108,939,096 5,448 37,498,719 7,858,986,677
2003 1,834 193,901,304 6,084 54,304,855 8,556,134,526
(a) Source: Pinellas County Property Appraiser, values listed are for year of collections.
136
r
TABLE XIII
City of Clearwater, Florida
Demographic Statistics
Last Ten Fiscal Years
Per Capita Median School Unemployment
Year Population (a) Income (b) Age (c) Enrollment (d) Rate (e)
1994 100,604 $ 22,148 42.9 10,043 5.5 %
1995 101,162 23,412 42.2 10,284 4.8
1996 101,867 23,768 42.1 11,960 4.2
1997 102,472 25,111 43.3 15,264 3.7
1998 102,874 26,287 43.6 13,714 2.9
1999 1 04,281 27,704 43.9 14,551 3.0
2000 104,454 29,041 44.2 15,978 2.7
2001 108,787 29,818 43.0 16,293 2.7
2002 109,231 31,406 43.0 17,047 3.9
2003 109,719 32,408 43.9 16,295 4.9
(a) Source is the University of Florida, Bureau of Economic and Business Research,
Florida Statistical Abstract 2003.
(b) Data is for Pinellas County. Source is the University of Florida, Bureau of Economic
and Business Research, Florida Statistical Abstract 2003.
(c) Source is the University of Florida, Bureau of Economic and Business Research,
Florida Statistical Abstract 2003.
(d) Source of data is the Pinellas County School District.
(e) Source is the University of Florida, Bureau of Economic and Business Research,
Florida Statistical Abstract 2003, as of December 31 st of the current fiscal year.
Note: Data is the latest published annual data available for an unspecified point in each year,
not specifically September 30.
137
TABLE XIV
Date of Incorporation:
Town of Clearwater
Municipal Corporation
June 2, 1897
May 27, 1915
Form of Government: Commission. Mayor
Fiscal Year: October 1 - September 30
Population: U.S. Bureau of the Census
Area:
Land
Water
1930
1940
1950
1960
1970
1980
1990
2000
Clearwater
7,607
10,136
15,581
34,653
52,074
85,170
98,784
108,787
25.4 Square Miles
8.6 Square Miles
Public Works:
Streets:
Paved
Unimproved
Sanitary Sewers:
Sanitary Sewer Mains
Storm Sewer Mains
Treatment Plants
Daily Capacity
Water:
Mains
Accounts
Fire Hydrants
Gas:
Mains
Accounts
304 Miles
10 Miles
City of Clearwater, Florida
Miscellaneous Facts
September 30, 2003
Tampa Bay
Metro Area
231,190
291,622
436,365
820,443
1,105,553
1,613,603
2,067,959
2,395,997
363 Miles
147 Miles
3
29 Million Gallons
559 Miles
40,227
4,042
686 Miles
17,275
Public Safety:
Police Protection:
Stations
Employees
Fire Protection:
Stations
Employees
Total Municipal Employees
Libraries:
Branches (including main library)
Collection
Marina
Airpark
Recreational Facilities:
Parks
Playgrounds
Golf Courses
Beach
Ballfields
Tennis
Basketball
Horseshoe
Soccer and Football
Handball
Swimming Pools
Stadium
Recreation Centers
Special Recreation Facilities
Recreational Paths
Lawn Bowling
Shuffleboard
Fitness Courses
Disc Golf Courses
138
9
399
7
200
1,851
5
556,966
209 Boat Slips
177 Spaces
1 ,130 Acres
31
3 Courses
42 Acres
36 Diamonds
64 Courts
22 Courts
24 Courts
17 Fields
10 Courts
5 Pools
6,917 Seats
12
32
7.4 Miles
24 Rinks
62 Courts
8
2
Single Audit I
Grants Compliance
139
Grant Thornton ~
Accountants and Business Advisors
REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS
ON COMPLIANCE AND ON INTERNAL CONTROL OVER
FINANCIAL REPORTING BASED ON AN AUDIT OF FINANCIAL STATEMENTS
PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
Honorable Mayor - Commissioner,
City Commissioners and City Manager
City of Clearwater, Florida
We have audited the financial statements of the governmental activities, the business-type activities, each major
fund, and the aggregate remaining fund information of the City of Clearwater, Florida (the City), as of and for the
year ended September 30, 2003, which collectively comprise the City's basic financial statements. We have also
audited the financial statements of each of the City's nonmajor governmental, nonmajor enterprise, internal
service and fiduciary funds presented as supplementary information in the accompanying combining and
individual fund financial statements as of and for the year ended September 30, 2003, and have issued our
report thereon dated January 16, 2004. We conducted our audit in accordance with auditing standards generally
accepted in the United States of America and the standards applicable to financial audits contained in
Government Auditing Standards, issued by the Comptroller General of the United States.
Compliance
As part of obtaining reasonable assurance about whether the City's financial statements are free of material
misstatement, we performed tests of its compliance with certain provisions of laws, regulations, . contracts and
grants, noncompliance with which could have a direct and material effect on the determination of the City's
financial statement amounts. However, providing an opinion on compliance with those provisions was not an
objective of our audit and, accordingly, we do not express such an opinion. The results of our tests disclosed no
instances of noncompliance that are required to be reported under Government Auditing standards.
Internal Control Over Financial ReportinQ
In planning and performing our audit, we considered the City's internal control over financial reporting in order to
determine our auditing procedures for the purpose of expressing our opinions on the City's financial statements
and not to provide assurance on the internal control over financial reporting. Our consideration of the internal
control over financial reporting would not necessarily disclose all matters in the internal control over financial
reporting that might be material weaknesses. A material weakness is a condition in which the design or
operation of one or more of the internal control components does not reduce to a relatively low level the risk that
misstatements in amounts that would be material in relation to the financial statements being audited may occur
and not be detected within a timely period by employees in the normal course of performing their assigned
functions. We noted no matters involving the internal control over financial reporting and its operation that we
consider to be material weaknesses. However, we noted other matters involving the internal control over
financial reporting that we have reported to management in a separate letter dated January 16, 2004.
This report is intended solely for the information of the Mayor-Commissioner, City Commissioners, City Manager,
management, federal awarding agencies, pass-through entities, and State of Florida program officials and is not
intended to be, and should not be, used by anyone other than these specified parties.
~ ~ LLfJ
Tampa, Florida
January 16, 2004
Suite 3850
101 E. Kennedy Blvd
Tampa, FL 33602-5152
T 813.229.7201
F 813.223.3015
W WIWI.grantlhornton.com
Grant Thornton LLP
US Member of Grant Thornton International
141
Grant Thornton 5
Accountants and Business Advisors
REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS
ON COMPLIANCE WITH REQUIREMENTS APPLICABLE TO EACH MAJOR PROGRAM
AND ON INTERNAL CONTROL OVER COMPLIANCE IN ACCORDANCE WITH
OMB CIRCULAR A-133 AND CHAPTER 10.550, RULES OF THE AUDITOR GENERAL
Honorable Mayor - Commissioner,
City Commissioners and City Manager
City of Clearwater, Florida
Comoliance
We have audited the compliance of the City of Clearwater, Florida (the "City") with the types of compliance
requirements described in the U.S. Office of Management and Budget (OMB) Circular A-133 Compliance
Supplement and the requirements described in the Executive Office of the Governor's State Project Compliance
Supplement that are applicable to each of its major federal programs and major state projects for the year ended
September 30, 2003. The City's major federal programs and major state projects are identified in the summary
of auditor's results section of the accompanying schedule of findings and questioned costs. Compliance with the
requirements of laws, regulations, contracts and grants applicable to each of its major federal programs and
major state projects is the responsibility of the City's management. Our responsibility is to express an opinion on
the City's compliance based on our audit.
We conducted our audit of compliance in accordance with auditing standards generally accepted in the United
States of America; the standards applicable to financial audits contained in Government Auditing Standards,
issued by the Comptroller General of the United States; OMB Circular A-133, Audits of States, Local
Governments, and Non-Profit Organizations and Chapter 10.550, Rules of the Auditor General. Those
standards, OMB Circular A-133 and Chapter 10.550, Rules of the Auditor General require that we plan and
perform the audit to obtain reasonable assurance about whether noncompliance with the types of compliance
requirements referred to above that could have a direct and material effect on a major federal program or major
state project occurred. An audit includes examining, on a test basis, evidence about the City's compliance with
those requirements and performing such other procedures as we considered necessary in the circumstances.
We believe that our audit provides a reasonable basis for our opinion. Our audit does not provide a legal
determination of the City's compliance with those requirements.
In our opinion, the City complied, in all material respects, with the requirements referred to above that are
applicable to each of its major federal programs and major state projects for the year ended September 30, 2003.
The results of our auditing procedures disclosed no instances of noncompliance that are required to be reported
in accordance with OMB Circular A-133 or Chapter 10.550, Rules of the Auditor General.
Internal Control Over Comoliance
The management of the City is responsible for establishing and maintaining effective internal control over
compliance with requirements of laws, regulations, contracts and grants applicable to federal programs and state
projects. In planning and performing our audit, we considered the City's internal control over compliance with
requirements that could have a direct and material effect on a major federal program or major state project in
order to determine our auditing procedures for the purpose of expressing our opinion on compliance and to test
and report on internal control over compliance in accordance with OMB Circular A-133 and Chapter 10.550,
Rules of the Auditor General.
Suite 3850
101 E. Kennedy Blvd
Tampa. FL 33602-5152
T 813.229.7201
F 813.223.3015
VI www.grantthornton.com
Grant Thornton LLP
US Member of Grant Thornton International
143
Our consideration of the internal control over compliance would not necessarily disclose all matters in the internal
control that might be material weaknesses. A material weakness is a condition in which the design or operation
of one or more of the internal control components does not reduce to a relatively low level the risk that
noncompliance with applicable requirements of laws, regulations, contracts and grants that would be material in
relation to a major federal program or major state project being audited may occur and not be detected within a:
timely period by employees in the normal course of performing their assigned functions. We noted no matters
involving the internal control over compliance and its operation that we consider to be material weaknesses.
This report is intended solely for the information of the Honorable Mayor-Commissioner, City Commissioners,
City Manager, management, federal awarding agencies, pass-through entities and State of Florida program
officials and is not intended to be, and should not be, used by anyone other than these specified parties.
~ ~ LLfJ
Tampa, Florida
January 16, 2004
145
City of Clearwater, Florida
Schedule of Expenditures of Federal Awards
and State Financial Assistance
For the year ended September 30. 2003
Federal Grantor /
Pass-through Grantor /
Program Title
FEDERAL AWARDS
U.S. Department of Commerce:
Economic Development Adminstration
North Greenwood Planning
Total U.S. Department of Commerce
U.S. Department of Housing and Urban
Development (HUD):
Passed through Clearwater Housing Authority:
Homer Villas
Community Development Block Grant - Entitlement
Passed through Pinellas County:
Home Investment Partnerships Program
Beach by Design Initiative
Total U.S. Department of HUD
U.S. Department of the Interior, National Park Service:
Passed through Florida Department of State
Division of Historical Resources:
Downtown Clearwater Design Guidelines
Total U.S. Department of the Interior
U.S. Department of Justice:
Neighborhood Policing Initiative for the Homeless
Local Law Enforcement Block Grant '02
Local Law Enforcement Block Grant '03
Weed & Seed 2001
Weed & Seed Asset Forfeiture '01
Federal Forfeiture Sharing
Community Oriented Policing Services
(COPS) Universal Hiring Award
COPS Technology
Bullet Proof Vests
Dept of Justice passed through State of Florida
Attorney General's Office:
VOCA Grant
VOCA Grant
Dept of Justice Passed through Florida Department
of Law Enforcement, Byrne Formula Grant Program:
Project Next Step
Operacion Apoyo Hispano
Operacion Apoyo Hispano
Total U.S. Department of Justice
CFDA/CSFA
Number
Program
or Award
Amount (a)
Federal
Share of
Expenditures
Grant I.D. Number
11.307
04-69-04764
$ 35,000 $
35,000
9,717
9,717
14.193 FL 14DEP07501 01 142,501 47,459
14.218 B-01-MC-12-0002 15,500,000 932,652
14.239 M-01-MC-12-0230 4,232,914
14.246 B-02-SP-FL-0129 490,000 165,805
20,365,415 1,145,916
15.904
FEID #59-60001874 F0216
10,000 5,000
10,000 5,000
997,800 409,137
245,829 124,406
203,782
175,000 1,441
50,000 2,114
240,888 40,883
1,275,000
748,350 634,510
720 720
16.580 2001-DD-BX-0056
16.592 2001-LB-BX-1821
16.592 2oo2-LB-BX-0113
16.595 2000-WS-QX-0041
16.595 2000-WS-QX-0041
N/A N/A
16.710 96UMWX0784
16.710 2001 CKWX0035
16.607 02010017
16.575 V1123 34,910
16.575 V2092 34,510 34,510
16.579 01-CJ-J1-08-62-02-058-01 78,500
16.579 02-CJ-2H-08-62-02-147 65,000 18,084
16.579 03-CJ-5A-08-62-02-022 68,794 48,521
4,219,083 1 ,314,326
146
City of Clearwater, Florida
Schedule of Expenditures of Federal Awards
and State Financial Assistance - Continued
For the year ended September 30, 2003
Federal Grantor /
Pass-through Grantor /
Program Title
CFDA/CSFA
Number
Grant I.D. Number
Program
or Award
Amount (a)
Federal
Share of
Expenditures
U.S. Department of Transportation:
Passed thru Florida Dept of Transportation:
Clearwater Beach West Bridge Connector 20.205 Federal No. 9045-019C,Contract #AI 915 689,775 361,029
McMullen Booth Road Overpass 20.205 Federal No. 9045-018C,Contract #A916 400,000 193,200
Clearwater Pedestrian / Bicycle Coordinator 20.600 Contract AN21 0 52,787 33,470
Clearwater DUI Enforcement 20.600 Project #AL-03-05-05 / DOT #AM668 36,000 36,000
Total U.S. Department of Transportation 1,178,562 623,699
U.S. Environmental Protection Agency:
Passed thru Florida Dept of Environmental Protection:
Alligator's Creek 66.460 DEP Contract #WM781 242,000 22,000
Brownfield - Federal 66.811 BP-98405396-4 50,000 36,728
Brownfield - Federal 66.811 BP98405396-3 150,000
Brownfield - Federal 66.811 BP-98405396-2 100,000
Brownfield - Federal 66.811 BP98405396-1 100,000
Brownfield - Federal 66.811 V-98405396-0 100,000
Brownfield - Federal 66.811 BL984872-99-0 500,000 9,300
Vulnerability Assessment 66.476 HS-82988401 115,000 33,046
Total U.S. Environmental Protection Agency 1,357,000 101,074
Total Federal Financial Assistance $27,165,060 $ 3,199,732
147
City of Clearwater, Florida
Schedule of Expenditures of Federal Awards
and State Financial Assistance - Continued
For the year ended September 30, 2003
State Grantor I
Pass-through Grantor I
Program Title
STATE FINANCIAL ASSISTANCE
Florida Executive Office of the Governor, Office of
Tourism, Trade, and Economic Development:
Brownfield Grant
Total Rorida Executive Office of the Governor
Florida Department of Environmental Protection:
Waste Tire Grant
Cliff Stephens Park
Florida Recreation Development Assistance Program
Eddie C. Moore Softball
Town Pond
Stevenson Creek Water Quality
Total Department of Environmental Protection
Florida Department of State, Secretary of State:
Division of Library & Information Services
North Greenwood Branch Library
Total Rorida Department of State, Secretary of State
Florida Housing Finance Corporation:
State Housing Initiative Partnership Program (SHIP)
Total Florida Housing Finance Corporation
Florida Department of Community Affairs:
Historic Bayview Environmental Park
Total Department of Community Affairs
Florida Department of Transportation (FDOT):
T -Hangars
T-Hangars
T-Hangars
Declared Distance
Airpark Master Plan
Airpark Master Plan
Airpark Master Plan
Runway Overrun & BERM
Runway Overrun & BERM
Security Upgrade
Total Department of Transportation
CFDAlCSFA
Number
Program
or Award
Amount (a)
Grant 1.0. Number
31.011
V 984053-96-0
$ 600,000 $
600,000
37.015 WT97-52 14,707
37.017 FRDAP Grant F-01330 150,000
Dep Contract #F1330
37.017 DEP 0334 200,000
37.039 WAP051 400,000
37.039 WAP050 2,500,000
3,264,707
45.030
Project #01-PLC-09
300,000
300,000
52.901 6,578,591
6,578,591
52.002 FCT #02-CT-5H-01-F1-A1-144 1,726,875
FCT#01-144-FFI
1,726,875
55.004 WP#40300619401 Contract AI076 300,000
55.004 FM40300618401 250,000
55.004 FM40300618401 668,800
55.004 WP#40299118401 Contract AI 20,745
55.004 WPI#40297918401 Contract#J 50,000
55.004 WPI#40297918401 Contract#J 59,964
55.004 WPI#40297918401 Contract#J 100,000
55.004 WP40298619401 Contract AJi 175,000
55.004 WP40298619401 Contract AJi 280,000
55.004 FM#40299319401 70,000
1,974,509
148
State
Share of Transfers to
Expenditures (b) Subrecipients (c:
15,894 $
15,894
14,699
68,170
400,000
275,000
757,869
120,000
120,000
2,419,616
50,949
2,419,616
50,949
1,726,875
1,726,875
100,591
372,262
40
472,893
State Grantor I
Pass-through Grantor I
Program Title
Florida Department of Law Enforcement:
Violent Crime Investigative Emergencies
City of Clearwater, Florida
Schedule of Expenditures of Federal Awards
and State Financial Assistance - Continued
For the year ended September 30, 2003
CFDAlCSFA
Number
Grant I.D. Number
71.005
109701
Total Florida Department of Law Enforcement
Florida Department of Revenue:
Phillies Stadium
Total Florida Department of Revenue
73.016
Total State Financial Assistance
Total Expenditures of Federal Awards
and State Financial Assistance
(a) Includes awards under prior year grants, which remain active.
(b) Funded with State grants and aids appropriations.
(c) State projects only.
149
Program
or Award
Amount (a)
State
Share of Transfers to
Expenditures (b) Subrecipients (c:
45,000 14,158
45,000 14,158
15,000,000 795,285
15,000,000 795,285
$ 29.489,682 $ 6,322,590 $ 50,949
$ 9,522,322
City of Clearwater, Florida
NOTES TO SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
AND STATE FINANCIAL ASSISTANCE
Year ended September 30, 2003
NOTE 1 - BASIS OF PRESENTATION
The accompanying schedule of expenditures of federal awards and state financial assistance includes the
federal and state grant activity for City of Clearwater, Florida and is presented on the modified accrual basis of
accounting. The information in this schedule is presented in accordance with the requirements of OMB Circular
A-133, Audits of states, Local Governments and Non-Profit Organizations and Chapter 10_550, Rules of the
Auditor General. Therefore, some amounts presented in this schedule may differ from amounts presented in, or
used in the preparation of the financial statements.
NOTE 2 - CFDAlCSFA NUMBER
CFDA numbers represent Catalog of Federal Domestic Assistance and apply only to Federal Awards. CSFA
numbers represent Catalog of State Financial Assistance and apply only to State Financial Assistance.
150
City of Clearwater, Florida
SCHEDULE OF FINDINGS AND QUESTIONED COSTS
For the year ended September 30, 2003
SECTION I - SUMMARY OF AUDITOR'S RESULTS
Financial Statements
Type of auditor's report issued (unaualified, qualified, adverse, disclaimer).
Internal Control Over Financial Reportina:
Material weaknesses identified
Reportable conditions identified that are not considered to be a material
weakness
Noncompliance material to financial statements noted?
Federal Awards
Internal control over major programs:
Material weaknesses identified?
Reportable conditions identified that are not considered to be a material
weakness
Type of auditor's report issued on compliance for major programs (unaualified,
qualified, adverse, disclaimer).
Any audit findings disclosed that are required to be reported in accordance
with Section 510(a) of Circular A-133?
Identification of major programs:
Federal Programs
CFDA Numbers
14.218
16.710
20.205
Name of Federal Program or Cluster
Community Development.Block Grant
COPS Technology
Clearwater Beach West Bridge Connector
State Project
CSFA Numbers
37.039
52.002
52.901
55.004
Name of State Project
Town Pond
Historic Bayview Environmental Park
State Housing Initiative Partnership Program
Runway Overrun & BERM
Dollar threshold used to distinguish between type A and type B programs.
Auditee qualified as a low risk auditee for Federal single audit purposes?
Auditee qualified as a low risk auditee for State single audit purposes?
151
Yes
Yes
Yes
Yes
Yes
Yes
.lL Yes
..lL Yes
.lL No
.lL No
.lL No
.lL No
.lL No
.lL No
$300.000
No
No
City of Clearwater, Florida
SCHEDULE OF FINDINGS AND QUESTIONED COSTS
For the year ended September 30, 2003
SECTION 11- FINANCIAL STATEMENT FINDINGS
NONE
SECTION 11I- FEDERAL AWARD FINDINGS AND QUESTIONED COSTS
NONE
SECTION IV - OTHER ISSUES
. No summary schedule of prior audit findings is required because there were no prior audit findings
related to Federal Programs or State Projects.
. No corrective action plan is required because there were no findings required to be reported under the
Federal or State single audit acts.
152
Grant Thornton e
Accountants and Business Advisors
MANAGEMENT LETTER REQUIRED BY
SECTION 10.554(1 )(g) OF THE RULES OF THE
AUDITOR GENERAL OF THE STATE OF FLORIDA
Honorable Mayor-Commissioner,
Commissioners and City Manager
City of Clearwater, Florida
We have audited the financial statements of the governmental activities, the business-type activities, each major
fund, and the aggregate remaining fund information of the City of Clearwater, Florida (the City), as of and for the
year ended September 30,2003, which collectively comprise the City's basic financial statements. We have also
audited the financial statements of each of the City's nonmajor governmental, nonmajor enterprise, internal
service and fiduciary funds presented as supplementary information in the accompanying combining and
individual fund financial statements as of and for the year ended September 30, 2003, and have issued our
report thereon dated January 16, 2004.
We conducted our audit in accordance with auditing standards generally accepted in the United States of
America and the standards applicable to financial audits contained in Government Auditing Standards, issued by
the Comptroller General of the United States. We have issued our Report of Independent Certified Public
Accountants on Compliance and on Internal Control over Financial Reporting. Disclosures in that report, if any,
which is dated January 16, 2004 should be considered in conjunction with this management letter.
Additionally, our audit was conducted in accordance with the provisions of Chapter 10.550, Rules of the Auditor
General. Those rules (Section 10.554(1 )(g)1.a.) require that we address in the management letter, if not already
addressed in the auditor's reports on compliance and internal controls or schedule of findings and questioned
costs, whether or not inaccuracies, shortages, defalcations, fraud and/or violations of laws, rules, regulations and
contractual provisions reported in the preceding annual financial audit report have been corrected. There were
no inaccuracies, irregularities, shortages, defalcations and/or violations of laws, rules, regulations and contractual
provisions disclosed in the preceding annual report.
The Rules of the Auditor General (Section 10.554(1)(g)1.b.) require that we address in the management letter, if
not already addressed in the auditor's reports on compliance and internal controls or schedule of findings and
questioned costs, whether or not recommendations made in the preceding annual financial audit report have
been followed. The current status of the recommendations made in the preceding annual financial report are
included under the heading "Current Year Status of Prior Year Comments."
As required by the Rules of the Auditor General (Section 10.554(1 )(g)2.), the scope of our audit included a
review of the provisions of Section 218.415, Florida Statutes, regarding the investment of public funds. In
connection with our audit, we determined that the City complied with Section 218.415, Florida Statutes.
The Rules of the Auditor General (Section 10.554 (1) (g) 3.) require disclosure in the management letter of any
recommendations to improve financial management, accounting procedures and internal controls.
Recommendations for improvement are noted beginning on page 155.
The Rules of the Auditor General (Section 10.554 (1) (g) 4.) require disclosure in the management letter of the
following matters if not already addressed in the auditor's reports on the internal control structure or compliance:
there were no violations of laws, rules, regulations and contractual provisions which mayor may not materially
affect the financial statements that were discovered during the audit; there were no illegal or improper
expenditures which mayor may not materially affect the financial statements that were discovered during the
audit; there were no improper or inadequate accounting procedures (e.g., the omission of required disclosures
from the financial statements) that were discovered during the audit; there were no failures to properly record
financial transactions, or other inaccuracies, irregularities, shortages, or defalcations discovered by the auditor.
Suite 3850
101 E. Kennedy Blvd
Tampa, FL 33602-5152
T 813.229.7201
F 813.223.3015
W www.grantthornton.com
Grant Thornton LLP
US Member of Grant Thornton International
153
The Rules of the Auditor General (Section 10.554 (1) (g) 5.) also require that the name or official title and
legal authority for the primary government and each component unit of the reporting entity be disclosed in
the management letter, unless disclosed in the notes to the financial statements. The City, located in
Pinellas County, Florida, was incorporated in June 1923. The legal authority by which the City was
created and is governed is its charter, which was derived from Chapter 9710 Special Laws of Florida, as
amended. The Clearwater Redevelopment Agency (CRA), a blended component unit of the City of
Clearwater, Florida, was created by authority of Florida Statute Chapter 163, Part III, and the City of
Clearwater Resolution 81.68. The Clearwater Downtown Development Board, a discretely presented
component unit of the City of Clearwater, Florida, was created by authority of Florida Statutes 70-635 and
77-637 and City Ordinance 5347-93.
As required by the Rules of the Auditor General (Section 10.554 (1) (g) 6a.), the scope of our audit
included a review of the provisions of Section 218.503 (1), Florida Statutes, Determination of Financial
Emergency. In connection with our audit, we determined that the City of Clearwater, Florida, is not in a
state of financial emergency as a consequence of the conditions described by Section 218.503(1), Florida
Statutes. The financial condition assessment procedures pursuant to Rule 10.556 (8) were applied in this
determination.
As required by the Rules of the Auditor General Section 10.554 (1 )(g) 6b.), we determined that the annual
financial report for the City of Clearwater, Florida for the fiscal year ended September 30, 2003, that was
filed with the Department of Banking and Finance pursuant to Section 218.32 (1) (a), Florida Statutes, is
in agreement with the annual financial audit report for the fiscal year ended September 30, 2003.
As required by the Rules of the Auditor General (Section 10.554(1)(g)6.c.1. and 6.c.2.), the auditor
applied financial condition assessment procedures pursuant to Rules of the Auditor General 10.566(8).
The City of Clearwater, Florida does not have deteriorating conditions as defined in Section 11.45(3)(a) 8,
Florida Statutes.
This management letter is intended solely for the information of the City of Clearwater, Florida and
management and the State of Florida Office of the Auditor General and is not intended to be, and should
not be, used by anyone other than these specified parties.
~ ~ [,Lf
Tampa, Florida
January 16, 2004
154
CURRENT YEAR COMMENTS
WATER/SEWER RATE
Observation:
During our testing of the utility cash receipts, we noted that the rate charged for water/sewer was less then the
City Ordinances established rate on certain sampled items. Upon further review, it was discovered that this was
due to inconsistencies in customer account billing codes.
Recommendation:
We recommend that consideration be given to establishing an information technology control that allows only the
established City ordinance rates to be charged.
Management Response:
Management concurs and has created an exception report that identifies these billing inconsistencies on a
monthly basis for review and correction.
YEAR-END ADJUSTMENTS - GENERAL FIXED ASSET ACCOUNT GROUP
Observation:
During our testing of the General Capital Assets, we noted that additions related to certain capital improvement
funds were not accurately reflected. This was due to year-end adjustments within the capital improvement funds
that were not reflected within the General Capital Assets.
Recommendation:
We recommend that the City put into place procedures to reconcile the expenditures per the "Program/Project
Expenditures and Transfers" report to the General Capital Assets Additions/Deletions Totals for each respective
capital improvement fund. This would ensure that all adjustments to the capital improvement funds are also
adjusted within the General Capital Assets.
Management Response:
Management concurs and will add the recommended additional control procedure to ensure that all year-end
adjustments are included for all capital improvement funds.
CAPITAL ASSET INVENTORY
Observation:
During our testing of the COPS Technology Grant Revenue/expenditures, we noted a piece of equipment
purchased, was not tagged and recorded on the City's fixed asset listing.
Recommendation:
We recommend that the City implement procedures that require a fixed asset tag to be issued before an entry to
a capital code within the general ledger. This will alleviate the risk of the City purchasing fixed assets that are
then not recorded on the City's fixed asset inventory.
156
Management Response:
Management concurs that this additional control would be desirable if practical, and will review in conjunction
with the implementation of a new financial system during fiscal 2004.
MAINTENANCE OF CONTRACT FILES
Observation:
During our testing of the Community Development Block Grant (CDBG), we noted several instances where the
construction contract files for contractors performing work under the program were not complete. In addition, we
noted that the contract files of the subrecipients for whom construction work was contracted were not complete.
Specifically, contract files were missing contracts, signatures executing contracts. certain certifications required
for Federal projects of this type, and other miscellaneous documentation.
Recommendation:
We recommend that the department consider implementing a procedure, such as a completeness checklist, to
ensure that contract files are complete. Additionally, we recommend that the department consider monitoring the
contract files of its subrecipients to ensure that contract files are complete.
Management Response:
Management concurs that there needs to be tighter administrative controls in place to assure compliance with all
federal labor standards, rules, and regulations associated with the Housing Division's use of U.S. Department of
Housing and Urban (HUD) funds. Management has implemented new policy whereby all disbursement requests
involving public facilities/improvements will need to be approved by both the Assistant Director and the Housing
Manager prior to expending federal funds. Additionally, management has developed a checklist that will be
placed in all new, and current ongoing, public facilities/improvements files that will be signed by each responsible
party. This will ensure that all required documentation is included in each file.
157
CURRENT YEAR STATUS OF PRIOR YEAR COMMENTS
MORTGAGE RECEIVABLES
. Observation:
During our testing of the Local Housing Assistance Trust Fund (SHIP) and the Rehabilitation Loan Fund (HOME
Program), we noted a significant amount of deferred payment loans receivable. Based upon the nature of these
loans (repayment is not required for a specified period of time or until the property is no longer owned or used by
the borrower), there is the risk that the original mortgagee could have sold the property or could be renting the
property to another person and therefore repayment of the loan would be required.
Recommendation:
We recommend that the City consider performing periodic reviews of the deferred payment loans, including site
visits, if necessary, to ensure that the original mortagee is still listed as the property owner in the County tax
collector's records and still occupies the property in accordance with the loan documents and provisions of the
City's grant agreements. This will also help ensure the Federal and State funds are being used for allowable
costs and activities.
Management Response:
Management concurs that the monitoring of deferred loans is an important function and believes that it has
adequate controls currently in place, including required annual insurance certification of the properties by the
mortgagee. Additionally, the State of Florida and U.S. Department of Housing and Urban Development (HUD)
monitor the programs on a bi-annual basis, with both reviewing and issuing satisfactory reports on the Housing
Division and related loan programs during fiscal 2002. Management will review, on a cosVbenefit basis, the
recommendation to add a procedure for site visits and will implement site visits during fiscal 2003, if warranted.
Current Status:
The City stands behind its position that the annual insurance certification process is a reasonable and effective
mechanism to ensure that the properties are still inhabited by the appropriate parties.
158
APPENDIX C
CONFORMED COpy OF AMENDED ORDINANCE
4
ORDINANCE NO. 6931-02
AN ORDINANCE OF THE CITY OF CLEARWATER, FLORIDA, AMENDING
ORDINANCE NO. 6378-99 TO AUTHORIZE ADDITIONAL STORMWATER
SYSTEM REVENUE BONDS, SERIES (TO BE DETERMINED) OF THE CITY
OF CLEARWATER, FLORIDA, TO BE ISSUED IN ONE OR MORE SERIES
OVER ONE OR MORE YEARS, TO CORRECT CERTAIN DEFINITIONS
THEREIN AND TO REVISE OTHER COVENANTS AND AGREEMENTS IN
CONNECTION THEREWITH; AND PROVIDING AN EFFECTIVE DATE.
BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF
CLEARWATER, FLORIDA:
SECTION 1. AUTHORITY FOR TIDS ORDINANCE. This Ordinance is enacted
pursuant to Chapter 166, Part II, Florida Statutes, the Charter of the City of Clearwater, Ordinance
No. 6378-99 and other applicable provisions of law.
SECTION 2. DEFINITIONS. (A) The following definitions set forth in Ordinance No..
6378-99 are hereby amended to read as follows (additional language is underlined and deleted
language is indicated with [brackets]):
"Additional Parity Obligations" shall mean additional obligations issued in compliance with
the terms, conditions and limitations contained herein and which (i) shall have a lien on the Parity
Pledged Revenues equal to that of the Bonds, (ii) shall be payable from the Parity Pledged Revenues
on a parity with the Bonds, and (iii) rank equally in all other respects with the Bonds.
"Bond Insurance Policy" shall mean, with respect to a Series of Bonds, any municipal bond
new issue insurance policy issued by a Bond Insurer that guarantees payment of principal of and
interest on such a Series of [the] Bonds.:.
"Bonds" shall mean (i) the Stormwater System Revenue Bonds, Series 1999; (ii) the
Stormwater System Revenue Bonds, Series 2002 herein authorized to be issued and (iii) any
Additional Parity Obligations permitted to be issued hereunder from time to time in accordance with
the provisions hereof.
"City Manager" shall mean the City Manager or an Assistant City Manager of the Issuer, or
such other person as may be duly authorized by the City Manager of the Issuer to act on his or her
behalf.
Ordinance No. 6931-02
"Clerk" shall mean the City Clerk or an Assistant City Clerk of the Issuer, or such other
person as may be duly authorized by the City Clerk of the Issuer to act on his or her behalf.
"Finance Director" shall mean the [Financial Services Administrator] Finance Director of the
Issuer or her designee.
"Pledged Revenues" shall mean, with respect to any Series of Bonds (i) the Parity Pledged
Revenues [Net Revenues of the System], and (ii) the moneys on deposit in the various funds and
accounts created pursuant to this Ordinance allocable to such Series of Bonds, including but not
limited to the Construction Fund and the Reserve Account for such Series, with the exception ofthe
Rebate Fund.
"Reserve Requirement" shall be, with respect to each Series of Bonds, 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 Bonds from gross income for Federal income tax purposes.
(B) The following new definitions are hereby added:
"Parity Pledged Revenues" shall mean (i) the Net Revenues of the System and (ii) the
moneys on deposit in the Bond Service Fund.
"Series" or "Series of Bonds" or "Bonds of a Series" shall mean all Bonds issued under this
Ordinance and designated as being of the same Series issued and delivered on original issuance in a
simultaneous transaction, and any Bonds thereafter delivered in lieu thereof or in substitution
therefor pursuant to this Ordinance.
"2002 Project" shall mean the Project authorized to be financed with the proceeds of the
Series 2002 Bonds as identified by subsequent resolution ofthe Issuer adopted prior to the issuance
of the Series 2002 Bonds, consisting of constructing and acquiring certain additions, extensions and
improvements to the Issuer's System, including but not limited to piping, the purchase of real
property for retention ponds and drainage improvements, and other similar improvements, additions,
renovations, acquisitions and related capital projects ofthe System.
(C) Any terms not defined herein shall have the meaning assigned to such term in Ordinance
No. 6378-99.
SECTION 3. FINDINGS. It is hereby ascertained, determined and declared that:
(A) The Issuer now owns, operates and maintains the System and will continue to derive
revenue from rates, fees, rentals and other charges made and collected for the services of such
System, which revenues and the other revenues pledged pursuant to the provisions hereof are not
now pledged or encumbered in any manner except for payment of the Series 1999 Bonds.
2
Ordinance No. 6931-02
1-----------------
(B) It is in the best interests of the Issuer and in the furtherance of the public health and
safety of the residents thereofthat the Issuer authorize the issuance of the Bonds for the purpose of
designing, permitting, acquiring and constructing the improvements and additions to its Stormwater
System.
(C) Such Bonds shall be payable from the Pledged Revenues.
(D) Any Series of Bonds, after the issuance ofthe Series 2002 Bonds herein authorized,
shall be issued upon approval by supplemental resolution of the Issuer as provided by law. The
proceeds of any Series of Bonds shall be applied as provided in a supplemental ordinance or
resolution.
(E) The principal of and interest and redemption premium on each Series of the Bonds
and all reserve and other payments shall be payable solely from the Pledged Revenues. The Issuer
shall never be required to levy ad valorem taxes on any real or personal property therein to pay the
principal of and interest on the Bonds herein authorized or to make any other payments provided for
herein. The Bonds shall not constitute a lien upon any properties owned by or located within the
boundaries of the Issuer or upon any property other than the Pledged Revenues.
(F) The Bonds herein authorized shall be on a parity and rank equally, as to lien on and
source and security for payment from the Parity Pledged Revenues and in all other respects, with the
Series 1999 Bonds.
(0) The Pledged Revenues should be sufficient to pay all principal of and interest and
redemption premium on the Bonds to be issued hereunder, as the same become due, and to make all
required deposits or payments required by this Ordinance.
(H) All costs of the 2002 Project incurred after the date of this Ordinance shall be
reimbursed from proceeds of the Bonds.
SECTION 4. AUTHORIZATION OF DESIGN, PERMITTING, ACQillSITION AND
CONSTRUCTION OF THE 2002 PROJECT. There is hereby authorized the design, permitting,
acquisition and construction of the 2002 Project.
SECTION 5. Section 6 of Ordinance No. 6378-99 is hereby amended to read as follows
(additional language is underlined and deleted language is indicated with [brackets]):
SECTION 6. AUTHORIZATION OF BONDS. Subject and pursuant to
the provisions hereof and as shall be described in subsequent resolutions of the Issuer
to be adopted prior to the issuance of any series of Bonds, obligations of the Issuer to
be known as "Stormwater System Revenue Bonds, Series (to be determined)" are
authorized to be issued in one or more series (including Additional Parity
3
Ordinance No. 6931-02
Obligations) from time to time in the aggregate principal amount of not exceeding
[$30,000,000] the total amount of Bonds that can be issued within the parameters of
Section 20CO) hereof, which may mature at higher Compounded Amounts to include
the maturity amount of Capital Appreciation Bonds and Capital Appreciation Income
Bonds. There is expressly authorized to be issued an initial Series of Bonds to be
called the "Stormwater System Revenue Bonds, Series 1999 (the "Series 1999
Bonds"), the proceeds of which will fund the costs of the 1999 Proiect, and a second
Series of Bonds to be called the "Stormwater System Revenue Bonds, Series 2002"
(the "Series 2002 Bonds"), the proceeds of which will fund the costs of the 2002
Proiect, all as shall be described in a subsequent resolution to be adopted prior to the
issuance of such Series [1999] of Bonds.
SECTION 6. Section 7 of Ordinance No. 6378-99 is hereby amended to read as follows
(additional language is underlined and deleted language is indicated with [brackets]):
SECTION 7. DESCRIPTION OF BONDS. The Bonds shall be issued in
fully registered form; may be Capital Appreciation Bonds, Capital Appreciation
Income Bonds, Option bonds, Variable Rate Bonds, Serial Bonds or Term Bonds;
shall be dated; shall be numbered consecutively from one upward in order of
maturity preceded by the letter "R"; shall be in the denomination of$5,000 each, or
integral multiples thereof for the Current Interest Bonds and in $5,000 maturity
amounts for the Capital Appreciation Bonds or in $5,000 multiples thereof, or such
other denominations as shall be approved by the Issuer in a supplemental resolution
prior to the delivery of the Bonds; shall have such Paying Agent and Registrar as
designated in a subsequent Resolution of the Issuer adopted prior to the issuance of
such Series of Bonds; shall bear interest at such rate or rates not exceeding the
maximum rate allowed by State law, the actual rate or rates to be approved by the
governing body of the Issuer prior to or upon the sale of the Bonds; such interest to
be payable semiannually at such times as are fixed by supplemental resolution of the
Issuer if Current Interest Bonds and shall mature annually on such date in such years
[(not exceeding 30 years from the date of issuance)] and such amounts as will be
fixed by supplemental resolution of the Issuer prior to or upon the sale ofthe Bonds;
and may be issued with [variable, adjustable, convertible or other rates with] original
issue discounts and [as Capital Appreciation Bonds] original issue premiums; all as
the Issuer shall provide herein or hereafter by supplemental resolution.
Each [Serial] Current Interest Bond shall bear interest from the interest
payment date next preceding the date on which it is authenticated, unless
authenticated on an interest payment date, in which case it shall bear interest from
such interest payment date, or, unless authenticated prior to the first interest payment
date, in which case it shall bear interest from its date; provided, however, that if at
the time of authentication payment of any interest which is due and payable has not
4
Ordinance No. 6931-02
been made, such [Serial] Current Interest Bond shall bear interest from the date to
which interest shall have been paid.
The Capital Appreciation Bonds shall bear interest only at maturity or upon
redemption prior to maturity in the amount determined by reference to the
Compounded Amount.
The principal of and the interest redemption premium, if any, on the Bonds
shall be payable in any coin or currency of the United States of America which on the
respective dates of payment thereof is legal tender for the payment of public and
private debts. The interest on the [Serial] Current Interest Bonds shall be payable by
the Paying Agent on each interest payment date to the person appearing on the
registration books of the Issuer hereinafter provided for as the registered Holder
thereof, by check or draft mailed to such registered Holder at his address as it appears
on such registration books or by wire transfer to Holders of $1 ,000,000 or more in
principal amount of the Bonds. Payment of the principal of all [Serial] Current
Interest Bonds and the Compounded Amount with respect to the Capital
Appreciation Bonds shall be made upon the presentation and surrender of such Bonds
as the same shall become due and payable.
Notwithstanding any other provisions of this section, the Issuer may, at its
option, prior to the date of issuance of any Series of Bonds, elect to use an
immobilization system or pure book-entry system with respect to issuance of such
Series of Bonds, provided adequate records will be kept with respect to the
ownership of such Series of Bonds issued in book-entry form or the beneficial
ownership of bonds issued in the name of a nominee. As long as any Bonds are
outstanding in book-entry form the provisions of this Ordinance inconsistent with
such system of book-entry registration shall not be applicable to such Bonds. The
details of any alternative system of issuance, as described in this paragraph, shall be
set forth in a resolution of the Issuer duly adopted at or prior to the sale of such Series
of Bonds.
SECTION 7. Section 20(B)(2) of Ordinance No. 6378-99 is hereby amended to read as
follows (additiona11anguage is underlined and deleted language is indicated with [brackets]):
(2)The Issuer shall next deposit from moneys remaining in the
Revenue Fund an amount required to make the amount on deposit in the Reserve
Fund with respect to a Series of Bonds equal the Reserve Requirement for such
Series of Bonds, subject to the funding limitations set forth in this paragraph (2).
Any withdrawals from the Reserve Fund shall be subsequently restored from the first
moneys available in the Revenue Fund, after all required current payments for Cost
of Operation and Maintenance as set forth above and all current applications and
allocations to the Bond Service Fund, including all deficiencies for prior payments
5
Ordinance No. 6931-02
have been made in full. Notwithstanding the foregoing, in case of withdrawal from
the Reserve Fund, in no event shall the Issuer be required to deposit into the Reserve
Fund an amount greater than that amount necessary to ensure that the difference
between the Reserve Requirement and the amounts on deposit in the Reserve Fund
with respect to a Series of Bonds on the date of calculation shall be restored not later
than sixty (60) months after the date of such deficiency (assuming equal monthly
payments into the Reserve Fund for such sixty (60) month period). The Issuer may
provide that the difference between the amounts on deposit in the Reserve Fund with
respect to a Series of Bonds and the Reserve Requirement with respect to a Series of
Bonds shall be an amount covered by obtaining bond insurance issued by a reputable
and recognized municipal bond insurer, by a letter of credit rated in one of the two
highest categories by one of two nationally recognized rating agencies, by a surety
bond acceptable to any company issuing a policy of municipal bond insurance
guaranteeing the payment of principal and interest on such Series of Bonds, or any
combination thereof. Moneys in each account in the Reserve Fund applicable to a
Series of Bonds shall be used only for the purpose of the payment of Amortization
Installments, principal of, or interest on the Outstanding Bonds of such Series when
the other moneys allocated to the Bond Service Fund for such Series of Bonds are
insufficient therefor, and for no other purpose.
Securities in the Reserve Fund shall be valued annually at market
rate. Deficiencies in the amounts on deposit in the Reserve Fund resulting from a
decline in market value shall be restored no later than the succeeding interest
payment date. In the event of the refunding of any Series of Bonds, the Issuer may
withdraw from the Reserve Fund, all or any portion of the amounts accumulated
therein [with respect to the] allocable to that portion of the Series of Bonds being
refunded and deposit such amounts as required by the resolution authorizing the
refunding of such Series of Bonds; provided that such withdrawal shall not be made
unless (a) immediately thereafter that portion of the Series of Bonds being refunded
shall be deemed to have been paid pursuant to the provisions hereof and (b) the
amount remaining in the [Reserve Fund] account in the Reserve Fund applicable to
that portion of the Series of Bonds not being refunded after giving effect to the
issuance of such refunding obligations and the disposition of the proceeds thereof
shall not be less than the Reserve Requirement for [any] that portion of the Series of
Bonds then Outstanding and not being refunded.
SECTION 8. Section 20(B)(5) of Ordinance No. 6378-99 is hereby amended to read as
follows (additional language is underlined and deleted language is indicated with [brackets]):
(5)The Bond Service Fund (including the accounts therein), the
Reserve Fund, the Revenue Fund, and any other special funds herein established and
created shall be deemed to be held in trust for the purposes provided herein for such
funds. The money in all such funds shall be continuously secured in the same
6
Ordinance No. 6931-02
manner as state and municipal deposits are authorized to be secured by the laws of
the State of Florida in Permitted Investments.
Moneys in any fund or account created hereunder (with the
exception of the Reserve Fund) may be invested and reinvested in Permitted
Investments which mature not later than the dates on which the moneys on deposit
therein will be needed for the purpose of such fund. [Moneys in the Reserve Fund
may be invested and reinvested in Permitted Investments maturing not later than five
(5) years after deposit into such Reserve Fund by the Issuer.] All income on such
investments, except as otherwise provided, shall be deposited in the respective funds
and accounts from which such investments were made and be used for the purposes
thereof unless and until the maximum required amount (or, with respect to the
Construction Fund, the amount required to acquire, construct and erect the Project) is
on deposit therein, and thereafter shall be deposited in the Revenue Fund.
SECTION 9. Section 20(D) of Ordinance No. 6378-99 is hereby amended to read as follows
(additional language is underlined and deleted language is indicated with [brackets]):
(D) RATE COVENANT. The Issuer will fix, establish, revise from
time to time whenever necessary, maintain and collect always such fees, rates, rentals
and other charges for the use of the products, services and facilities of the System
which will always provide Net Revenues in each year sufficient to pay [the lesser of
the aggregate of] one hundred fifteen percent (115%) of the Bond Service
Requirement becoming due in such year on the Outstanding Bonds. Such rates, fees,
rentals or other charges shall not be reduced so as to render them insufficient to
provide revenues for the purposes provided therefor by this Ordinance.
SECTION 10. Section 20(Q)(1) of Ordinance No. 6378-99 is hereby amended to read as
follows (additional language is underlined and deleted language is indicated with [brackets]):
(Q) ISSUANCE OF ADDITIONAL P ARITY OBLIGATIONS. No
Additional Parity Obligations shall be issued after the issuance of the Series 2002
Bonds herein authorized, except upon the conditions and in the manner hereinafter
provided:
(1)There shall have been obtained and filed with the Clerk a
certificate of [an independent certified public accountant] the Finance Director
stating: (a) that the books and records of the Issuer relative to the System and the
[Pledged] Net Revenues have been reviewed by an independent certified public
accountant; and (b) the amount of the [Pledged] Net Revenues derived for any
consecutive twelve (12) months out of the preceding twenty-four (24) months
preceding the date of issuance of the proposed Additional Parity Obligations as
adjusted pursuant to paragraphs 2,3,4 and/or 5 below, is equal to not less than 120%
7
Ordinance No. 6931-02
of the Maximum Bond Service Requirement becoming due in any Fiscal Year there-
after on (i) all Bonds issued under this Ordinance, [if any] then Outstanding, and (ii)
on the Additional Parity Obligations with respect to which such certificate is made.
SECTION 11. Section 24(A) of Ordinance No. 6378-99 is hereby amended to read as
follows (additional language is underlined and deleted language is indicated with [brackets]):
SECTION 24. DEFEASANCE. The covenants and obligations of the
Issuer shall be defeased and discharged under terms of this Ordinance as follows:
(A) If the Issuer shall payor cause to be paid, or there shall otherwise
be paid, to the Holders of [all] one or more Series of Bonds the principal, redemption
premium, if any, and interest due or to become due thereon, at the times and in the
manner stipulated herein, then the pledge of the Pledged Revenues and all covenants,
agreements and other obligations of the Issuer to [the] such Bondholders, shall
thereupon cease, terminate and become void and be discharged and satisfied. If the
Issuer shall payor cause to be paid, or there shall otherwise be paid, to the Holders of
any Outstanding Bonds the principal or redemption premium, if any, and interest due
or to become due thereon, at the times and in the manner stipulated herein, such
Bonds shall cease to be entitled to any lien, benefit or security under this Ordinance,
and all covenants, agreements and obligations of the Issuer to the Holders of such
Bonds shall thereupon cease, terminate and become void and be discharged and
satisfied.
SECTION 12. Section 28 of Ordinance No. 6378-99 is hereby amended to read as follows
(additional language is underlined and deleted language is indicated with [brackets]):
SECTION28. CAPITAL APPRECIATION BONDS. For the purposes of
(i) receiving payment of the redemption price of a Capital Appreciation Bond if
redeemed prior to maturity, (ii) receiving payment if the principal of all Bonds is
declared immediately due and payable, and (iii) [computing Bond Service
Requirement, and (iv)] computing the amount of Holders required for any notice,
consent, request or demand hereunder for any purpose whatsoever, the principal
amount of a Capital Appreciation Bond shall be deemed to be its Compounded
Amount.
SECTION 13. REPEAL OF INCONSISTENT INSTRUMENTS. Any other ordinance
or resolutions, or parts thereof, in conflict herewith are hereby repealed to the extent of such conflict.
SECTION 14. EFFECTIVE DATE. The provisions of this Ordinance shall take effect
upon its enactment, as required by law.
[Remainder of page left intentionally blank]
8
Ordinance No. 6931-02
, '
SECTION 15. PUBLIC NOTICE. Notice of the proposed enactment ofthis Ordinance has
been properly advertised in a newspaper of general circulation In accordance with Chapter 166.041,
Florida Statutes.
PASSED ON FIRST READING
June 20.
PASSED ON SECOND
AND FINAL READING
July 18
May!fJItr--
Attest:
~.v' ~~G.wc
.P.rJ:.'fll- -;'--OOi,deau- J . O.
V City Clerk
, Approved as to form:
MM Akm
City Attorney
9
,2002
,2002
Ordinance No. 6931-02
APPENDIX D
FORM OF CONTINUING DISCLOSURE CERTIFICATE
CONTINUING DISCLOSURE CERTIFICATE
This Continuing Disclosure Certificate (the "Disclosure Certificate") is executed
and delivered by the City of Clearwater, Florida (the "Issuer") in connection with the
issuance of its $14,350,000* Stormwater System Revenue Bonds, Series 2004 (the
"Series 2004 Bonds"). The Series 2004 Bonds are being issued pursuant to Ordinance
No. 6378-99, enacted by the City on April 15, 1999, as amended by Ordinance No.
6931-02, enacted by the City on July 18, 2002, as supplemented (the "Ordinance"). The
Issuer covenants and agrees as follows:
SECTION 1. PURPOSE OF DISCLOSURE CERTIFICATE.
This Disclosure Certificate is being executed and delivered by the Issuer for the benefit
of the Series 2004 Bondholders and in order to assist the original underwriters of the
Series 2004 Bonds in complying with Rule 15c2-12(b)(5) promulgated by the Securities
and Exchange Commission ("SEC") pursuant to the Securities Exchange Act of 1934
(the "Rule").
SECTION 2. PROVISION OF ANNUAL INFORMATION.
Except as otherwise provided herein, the Issuer shall provide to all of the nationally
recognized municipal securities information repositories described in Section 4 hereof
(the "NRMSIRs"), and to any state information depository that is established within
the State of Florida (the "SID"), on or before June 30 of each year, commencing June
30, 2005, the information set forth below in this Section 2. Notwithstanding the
immediately preceding sentence, to the extent any such information does not become
available to the Issuer before June 30 of any year, the Issuer shall provide such
information when it becomes available, but no later than one year following the end of
the Issuer's Fiscal Year.
(A) the Issuer's Comprehensive Annual Financial Report for the immediately
preceding Fiscal Year (the "CAFR"), which shall include the audited financial
statements of the Issuer for the immediately preceding Fiscal Year prepared in
accordance with Generally Accepted Accounting Principles, as modified by applicable
State of Florida requirements and the governmental accounting standards
promulgated by the Government Accounting Standards Board; provided, however, if
the audited financial statements of the Issuer are not completed prior to June 30 of any
year, the Issuer shall provide unaudited financial statements on such date and shall
provide the audited financial statements as soon as practicable following their
completion; and
(B) to the extent not set forth in the CAFR, additional financial information
and operating data of the type included with respect to the Issuer in the final official
statement prepared in connection with the sale and issuance ofthe Series 2004 Bonds
(as amended, the "Official Statement"), as set forth below:
1
1. Updates of the financial information set forth in the Official
Statement under the subcaptions "Rates, Fees and Charges" and "Historical Net
Revenues" under the principal captions "THE STORMW ATER MANAGEMENT
SYSTEM" ( in the case of the material under the caption "Historical Net
Revenues," for the then-immediately preceding five fiscal years).
2. Description of any additional indebtedness payable in whole or in
part from the Net Revenues (as defined in the Ordinance).
3. Any other financial information or operating data of the type
included in the Official Statement which would be material to a holder or
prospective holders of the Series 2004 Bonds.
For purposes of this Disclosure Certificate, "Fiscal Year" means the period
commencing on October 1 and ending on September 30 of the next succeeding year, or
such other period of time provided by applicable law.
SECTION 3. REPORTING SIGNIFICANT EVENTS. The Issuer
shall provide to the NRMSIRs or the Municipal Securities Rulemaking Board (the
"MSRB") and to the SID, on a timely basis, notice of any ofthe following events, if such
event is material with respect to the Series 2004 Bonds or the Issuer's ability to satisfy
its payment obligations with respect to the Series 2004 Bonds:
(A)
(B)
(C)
difficulties;
(D)
(E)
(F)
(G)
(H)
(I)
Principal and interest payment delinquencies;
Non-payment related defaults;
Unscheduled draws on the debt service reserve fund reflecting financial
Unscheduled draws on credit enhancement reflecting financial difficulties;
Substitution of credit or liquidity providers, or their failure to perform;
Adverse tax opinions or events affecting the tax-exempt status of the
Series 2004 Bonds;
Modifications to rights of Series 2004 Bondholders;
Redemptions;
Defeasances;
2
(J) Release, substitution, or sale of property securing repayment ofthe Series
2004 Bonds;
(K) Rating changes; and
(L) Notice of any failure on the part of the Issuer or any other Obligated
Person (as defined herein) to meet the requirements of Section 2 hereof.
The Issuer may from time to time, in its discretion, choose to provide notice of
the occurrence of certain other events, in addition to those listed in this Section 3, if, in
the judgment of the Issuer, such other events are material with respect to the Series
2004 Bonds, but the Issuer does not specifically undertake to commit to provide any
such additional notice ofthe occurrence of any material event except those events listed
above.
Whenever the Issuer obtains knowledge of the occurrence of a significant event
described in this Section 3, the Issuer shall as soon as possible determine if such event
would be material under applicable federal securities law to holders of Series 2004
Bonds, provided. that any event under clauses (D), (E), (F), (K) or (L) above will always
be deemed to be material.
SECTION 4. NRMSIRs. The NRMSIRs to which the Issuer shall
provide the information described in Sections 2 and 3 above, to the extent required,
shall be the following organizations, their successors and assigns:
Bloomberg Municipal Repository
100 Business Park Drive
Skillman, New Jersey 08558
Phone: (609) 279-3225
Fax: (609) 279-5962
Email: Munis@Bloomberg.com
DPC Data Inc.
One Executive Drive
Fort Lee, NJ 07024
Phone: (201) 346-0701
Fax: (201) 947-0107
Email: nrmsir@dpcdata.com
FT Interactive Data
Attn: NRMSIR
3
100 William Street
New York, New York 10038
Phone: (212) 771-6999
Fax: (212) 771-7390 (Secondary Market Information)
(212) 771-7391 (Primary Market Information)
Email: NRMSIR@FTID.com
Standard & Poor's J. J. Kenny Repository
55 Water Street
45th Floor
New York, NY 10041
Phone: (212) 438-4595
Fax: (212) 438-3975
Email: nrmsir_repository@sandp.com
(F) Any NRMSIRs that are established subsequently and approved by the
SEC.
(G) A list of the names and addresses of all designated NRMSIRs as of any
date may currently be obtained by calling the SEC's Fax on Demand Service at
202/942-8088 and requesting document number 0206.
4
SECTION 5. NO EVENT OF DEFAULT. Notwithstanding any
other provision in the Ordinance to the contrary, failure of the Issuer to comply with
the provisions ofthis Disclosure Certificate shall not be considered an event of default
under the Ordinance; provided, however, any Series 2004 Bondholder may take such
actions as may be necessary and appropriate, including pursuing an action for
mandamus or specific performance, as applicable, by court order, to cause the Issuer to
comply with its obligations hereunder. For purposes of this Disclosure Certificate,
"Series 2004 Bondholder" shall mean any person who (A) has the power, directly or
indirectly, to vote or consent with respect to, or to dispose of ownership of, any Series
2004 Bonds (including persons holding Series 2004 Bonds through nominees,
depositories or other intermediaries), or (B) is treated as the owner of any Series 2004
Bond for federal income tax purposes.
SECTION 6. INCORPORATION BY REFERENCE. Any or all of
the information required herein to be disclosed may be incorporated by reference from
other documents, including official statements or debt issues of the Issuer of related
public entities, which have been submitted to each of the NRMSIRs and the SID, if
any, or the SEC. If the document incorporated by reference is a final official statement,
it must be available from the MSRB. The Issuer shall clearly identify each document
incorporated by reference.
SECTION 7. DISSEMINATION AGENTS. The Issuer may, from
time to time, appoint or engage a dissemination agent to assist it in carrying out its
obligations under this Disclosure Certificate, and may discharge any such agent, with
or without appointing a successor disseminating agent.
SECTION 8. TERMINATION. The Issuer's obligations under this
Disclosure Certificate shall terminate upon (A) the legal defeasance, prior redemption
or payment in full of all of the Series 2004 Bonds, or (B) the termination of the
continuing disclosure requirements ofthe Rule by legislative, judicial or administrative
action.
SECTION 9. AMENDMENTS. Notwithstanding any other
provision of this Disclosure Certificate, the Issuer may amend this Disclosure
Certificate, and any provision may be waived, if such amendment or waiver is
supported by an opinion of counsel that is nationally recognized in the area of federal
securities laws, to the effect that such amendment or waiver would not, in and of itself,
cause the undertakings herein to violate the Rule if such amendment or waiver had
been effective on the date hereof but taking into account any subsequent change in or
official interpretation of the Rule.
5
SECTION 10. ADDITIONAL INFORMATION. Nothing in this
Disclosure Certificate shall be deemed to prevent the Issuer from disseminating any
other information, using the means of dissemination set forth in this Disclosure
Certificate or any other means of communication, or including any other information in
its annual information described in Section 2 hereof or notice of occurrence of a
significant event described in Section 3 hereof, in addition to that which is required by
this Disclosure Certificate. If the Issuer chooses to include any information in its
annual information or notice of occurrence of a significant event in addition to that
which is specifically required by this Disclosure Certificate, the Issuer shall have no
obligation under this Disclosure Certificate to update such information or include it in
its future annual information or notice of occurrence of a significant event.
SECTION 11. OBLIGATED PERSONS. If any person, other than the
Issuer, becomes an Obligated Person (as defined in the Rule) relating to the Series
2004 Bonds, the Issuer shall use its best efforts to require such Obligated Person to
comply with all provisions of the Rule applicable to such Obligated Person.
Dated as of [
], 2004
ATTEST:
CITY OF CLEARWATER, FLORIDA
City Clerk
By: Brian J. Aungst, Sr.
Mayor
6
APPENDIX E
FORM OF BOND COUNSEL OPINION
APPENDIX E
Upon delivery of the Series 2004 Bonds in definitive form, Bryant Miller & Olive P.A.,
Bond Counsel, proposes to render its final approving opinion in substantially the following
form:
[Date of delivery of the Bonds]
City Council
City of Clearwater
Clearwater, Florida
$
CITY OF CLEARWATER, FLORIDA
STORMW A TER SYSTEM REVENUE BONDS, SERIES 2004
Ladies and Gentlemen:
We have acted as bond counsel in connection with the issuance by the City of Clearwater,
Florida (the "Issuer"), of its $ Stormwater System Revenue Bonds, Series 2004 (the "Series
2004 Bonds"), pursuant to the Constitution and laws of the State of Florida, Chapter 166, Part II,
Florida Statutes, and other applicable provisions of law, Ordinance No. 6378-99, enacted by the City
Council of the Issuer on April 15, 1999, as amended and supplemented by Ordinance No. 6931-02,
enacted by the City Council of the Issuer on July 18, 2003 (collectively, the "Bond Ordinance"), as
amended and supplemented by Resolution No. 04-23 adopted by the City Council of the Issuer on
[August 5], 2004 (collectively, the "Resolution"), as amended and supplemented. Any capitalized
undefined terms used herein shall have the meaning set forth in the Ordinance.
As to questions of fact material to our opinion, we have relied upon representations of the
Issuer contained in the Bond Ordinance and the Resolution and in the certified proceedings and
other certifications of public officials furnished to us, without undertaking to verify the same by
independent investigation. We have not undertaken an independent audit, examination,
investigation or inspection of such matters and have relied solely on the facts, estimates and
circumstances described in such proceedings and certifications. We have assumed the genuineness
of signatures on all documents and instruments, the authenticity of documents submitted as
originals and the conformity to originals of documents submitted as copies.
We have not been engaged or undertaken to review the accuracy, completeness or
sufficiency of any offering material relating to the Series 2004 Bonds. This opinion should not be
construed as offering material, an offering circular, prospectus or official statement and is not
intended in any way to be a disclosure statement used in connection with the sale or delivery of the
Series 2004 Bonds. Furthermore, we are not passing on the accuracy or sufficiency of any CUSIP
E-I
numbers appearing on the Series 2004 Bonds. In addition, we have not been engaged to and,
therefore, express no opinion as to compliance by the Issuer or the underwriter with any federal or
state statute, regulation or ruling with respect to the sale and distribution of the Series 2004 Bonds.
In rendering this opinion, we have examined and relied upon the opinion of even date
herewith of Pamela K. Akin, Esquire, Counsel for the Issuer, as to the due creation and valid
existence of the Issuer, the due enactment of the Bond Ordinance and due adoption of the
Resolution, the due authorization, execution and delivery of the Series 2004 Bonds and the
compliance by the Issuer with all conditions precedent to the issuance of the Series 2004 Bonds.
The Series 2004 Bonds are payable from and secured by a lien upon and pledge of the Net
Revenues (as defined in the Ordinance) of the City's Stormwater Management System, on a parity
with the Issuer's $7,500,000 Stormwater System Revenue Bonds, Series 1999 (the "Series 1999
Bonds") and the Issuer's $7,020,000 Stormwater System Revenue Bonds, Series 2002 (the "Series 2002
Bonds," together with the Series 1999 Bonds, the "Parity Bonds"). Pursuant to the terms, conditions
and limitations contained in the Bond Ordinance, the Issuer has reserved the right to issue
obligations in the future which shall have a lien on the Net Revenues equal to that of the Series 2004
Bonds and the Parity Bonds.
The Series 2004 Bonds do not constitute a general obligation or indebtedness of the Issuer
within the meaning of any constitutional, statutory or other limitation of indebtedness and the
holders thereof shall never have the right to compel the exercise of any ad valorem taxing power of
the Issuer or taxation in any form of any real or personal property for the payment of the principal
of or interest on the Series 2004 Bonds.
The opinions set forth below are expressly limited to, and we opine only with respect to, the
laws of the State of Florida and the federal income tax laws of the United States of America.
Based on our examination, we are of the opinion, as of the date of delivery of and payment
for the Series 2004 Bonds, as follows:
1. The Bond Ordinance has been duly enacted by the Issuer, the Resolution has been duly
adopted by the Issuer, and each constitutes a valid and binding obligation of the Issuer enforceable
upon the Issuer in accordance with its terms.
2. The Series 2004 Bonds have been duly authorized, executed and delivered by the Issuer
and are valid and binding special obligations of the Issuer enforceable in accordance with their
terms, payable solely from the sources provided therefor in the Bond Ordinance.
3. The Internal Revenue Code of 1986, as amended (the "Code"), establishes certain
requirements which must be met subsequent to the issuance and delivery of the Series 2004 Bonds
in order that interest on the Series 2004 Bonds be and remain excluded from gross income for
E-2
purposes of federal income taxation. Non-compliance may cause interest on the Series 2004 Bonds
to be included in federal gross income retroactive to the date of issuance of the Series 2004 Bonds,
regardless of the date on which such non-compliance occurs or is ascertained. The Issuer has
covenanted in the Bond Ordinance to comply with such requirements in order to maintain the
exclusion from federal gross income of the interest on the Series 2004 Bonds.
Subject to compliance by the Issuer with the aforementioned covenants, (a) interest on the
Series 2004 Bonds is excluded from gross income of the holders thereof for purposes of federal
income taxation, and (b) interest on the Series 2004 Bonds is not an item of tax preference for
purposes of the federal alternative minimum tax imposed on individuals and corporations;
however, with respect to corporations (as defined for federal income tax purposes), such interest is
taken into account in determining adjusted current earnings for the purpose of computing the
alternative minimum tax imposed on such corporations. We express no opinion regarding other
federal tax consequences arising with respect to the Series 2004 Bonds.
4. The Series 2004 Bonds are exempt from intangible taxes imposed pursuant to Chapter
199, Florida Statutes.
It is to be understood that the rights of the owners of the Series 2004 Bonds and the
enforceability thereof may be subject to the exercise of judicial discretion in accordance with general
principles of equity, to the valid exercise of the sovereign police powers of the State of Florida and
of the constitutional powers of the United States of America and to bankruptcy, insolvency,
reorganization, moratorium and other similar laws affecting creditors' rights heretofore or hereafter
enacted.
Our opinions expressed herein are predicated upon present law, facts and circumstances,
and we assume no affirmative obligation to update the opinions expressed herein if such laws, facts
or circumstances change after the date hereof.
Very truly yours,
BRY ANT MILLER & OLIVE P.A.
E-3
APPENDIX F
FORM OF MUNICIPAL BOND INSURANCE POLICY
Ambac
Ambac Assurance Corporation
One State Street Plaza, 15th Floor
New York, New York 10004
Telephone: (212) 668-0340
Financial Guaranty Insurance Policy
Obligor:
Policy Number:
Obligations:
Premium:
o er than (i) the Obligor or (ii) any person whose obligations constitute the
gations who, at the time of Nonpayment, is the owner of an Obligation or of
ein, "Due for Payment", when referring to the principal of Obligations, is when
e mandato aemption date for the application of a required sinking fund installment has been
any earlier date on which payment is due by reason of call for redemption (other than by application
stallments), acceleration or other advancement of maturity; and, when referring to interest on the
h uled date for payment of interest has been reached. As used herein, "Nonpayment" means the failure
l.'e ro d sufficient funds to the trustee or paying agent for payment in full of all principal of and interest
h ch are Due for Payment.
c celable. The premium on this Policy is not refundable for any reason, including payment of the Obligations
prior to m '. This Policy does not insure against loss of any prepayment or other acceleration payment which at any time
may become due in respect of any Obligation, other than at the sole option of Ambac, nor against any risk other than Nonpayment.
In witness whereof, Ambac has caused this Policy to be affixed with a facsimile of its corporate seal and to be signed by its duly
authorized officers in facsimile to become effective as its original seal and signatures and binding upon Ambac by virtue of the
countersignature of its duly authorized representative.
noti that any payment of principal of or interest on an
t a Holder by or on behalf of the Obligor has been deemed a
nt to the United States Bankruptcy Code in accordance with
Holder will be entitled to payment from Ambac to the extent
fJ j /!.J--
President
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Secretary
Effective Date:
Authorized Representative
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Authorized Officer of Insurance Trustee
THE BANK OF NEW YORK acknowledges that it has agreed
to perform the duties of Insurance Trustee under this Policy.
Form No.: 2B-0012 (1/01)
A-
EXHIBIT D
CONTINUING DISCLOSURE CERTIFICATE
D-1
CONTINUING DISCLOSURE CERTIFICATE
This Continuing Disclosure Certificate (the "Disclosure Certificate") is executed
and delivered by the City of Clearwater, Florida (the "Issuer") in connection with the
issuance of its $14,350,000* Stormwater Revenue Bonds, Series 2004 (the "Series 2004
Bonds"). The Series 2004 Bonds are being issued pursuant to Ordinance No. 6378-99,
enacted by the City on April 15, 1999, as amended by Ordinance No. 6931-02, enacted
by the City on July 18, 2002, as supplemented (the "Ordinance"). The Issuer covenants
and agrees as follows:
SECTION 1. PURPOSE OF DISCLOSURE CERTIFICATE.
This Disclosure Certificate is being executed and delivered by the Issuer for the benefit
of the Series 2004 Bondholders and in order to assist the original underwriters of the
Series 2004 Bonds in complying with Rule 15c2-12(b)(5) promulgated by the Securities
and Exchange Commission ("SEC") pursuant to the Securities Exchange Act of 1934
(the "Rule").
SECTION 2. PROVISION OF ANNUAL INFORMATION.
Except as otherwise provided herein, the Issuer shall provide to all of the nationally
recognized municipal securities information repositories described in Section 4 hereof
(the "NRMSIRs"), and to any state information depository that is established within
the State of Florida (the "SID"), on or before June 30 of each year, commencing June
30, 2005, the information set forth below in this Section 2. Notwithstanding the
immediately preceding sentence, to the extent any such information does not become
available to the Issuer before June 30 of any year, the Issuer shall provide such
information when it becomes available, but no later than one year following the end of
the Issuer's Fiscal Year.
(A) the Issuer's Comprehensive Annual Financial Report for the immediately
preceding Fiscal Year (the "CAFR"), which shall include the audited financial
statements of the Issuer for the immediately preceding Fiscal Year prepared in
accordance with Generally Accepted Accounting Principles, as modified by applicable
State of Florida requirements and the governmental accounting standards
promulgated by the Government Accounting Standards Board; provided, however, if
the audited financial statements of the Issuer are not completed prior to June 30 of any
year, the Issuer shall provide unaudited financial statements on such date and shall
provide the audited financial statements as soon as practicable following their
completion; and
(B) to the extent not set forth in the CAFR, additional financial information
and operating data of the type included with respect to the Issuer in the final official
statement prepared in connection with the sale and issuance ofthe Series 2004 Bonds
(as amended, the "Official Statement"), as set forth below:
1
1. Updates of the financial information set forth in the Official
Statement under the subcaptions "Rates, Fees and Charges" and "Historical Net
Revenues" under the principal captions "THE STORMW ATER MANAGEMENT
SYSTEM" ( in the case of the material under the caption "Historical Net
Revenues," for the then-immediately preceding five fiscal years).
2. Description of any additional indebtedness payable in whole or in
part from the Net Revenues (as defined in the Ordinance).
3. Any other financial information or operating data of the type
included in the Official Statement which would be material to a holder or
prospective holders of the Series 2004 Bonds.
For purposes of this Disclosure Certificate, "Fiscal Year" means the period
commencing on October 1 and ending on September 30 of the next succeeding year, or
such other period of time provided by applicable law.
SECTION 3. REPORTING SIGNIFICANT EVENTS. The Issuer
shall provide to the NRMSIRs or the Municipal Securities Rulemaking Board (the
"MSRB") and to the SID, on a timely basis, notice of any of the following events, if such
event is material with respect to the Series 2004 Bonds or the Issuer's ability to satisfy
its payment obligations with respect to the Series 2004 Bonds:
(A)
(B)
(C)
difficulties;
(D)
(E)
(F)
(G)
(H)
(I)
Principal and interest payment delinquencies;
Non-payment related defaults;
Unscheduled draws on the debt service reserve fund reflecting financial
Unscheduled draws on credit enhancement reflecting financial difficulties;
Substitution of credit or liquidity providers, or their failure to perform;
Adverse tax opinions or events affecting the tax-exempt status of the
Series 2004 Bonds;
Modifications to rights of Series 2004 Bondholders;
Redemptions;
Defeasances;
2
(J) Release, substitution, or sale of property securing repayment of the Series
2004 Bonds;
(K) Rating changes; and
(L) Notice of any failure on the part of the Issuer or any other Obligated
Person (as defined herein) to meet the requirements of Section 2 hereof.
The Issuer may from time to time, in its discretion, choose to provide notice of
the occurrence of certain other events, in addition to those listed in this Section 3, if, in
the judgment of the Issuer, such other events are material with respect to the Series
2004 Bonds, but the Issuer does not specifically undertake to commit to provide any
such additional notice of the occurrence of any material event except those events listed
above.
Whenever the Issuer obtains knowledge of the occurrence of a significant event
described in this Section 3, the Issuer shall as soon as possible determine if such event
would be material under applicable federal securities law to holders of Series 2004
Bonds, provided, that any event under clauses (D), (E), (F), (K) or (L) above will always
be deemed to be material.
SECTION 4. NRMSIRs. The NRMSIRs to which the Issuer shall
provide the information described in Sections 2 and 3 above, to the extent required,
shall be the following organizations, their successors and assigns:
Bloomberg Municipal Repository
100 Business Park Drive
Skillman, New Jersey 08558
Phone: (609) 279-3225
Fax: (609) 279-5962
Email: Munis@Bloomberg.com
DPC Data Inc.
One Executive Drive
Fort Lee, NJ 07024
Phone: (201) 346-0701
Fax: (201) 947-0107
Email: nrmsir@dpcdata.com
FT Interactive Data
Attn: NRMSIR
3
100 William Street
New York, New York 10038
Phone: (212) 771-6999
Fax: (212) 771-7390 (Secondary Market Information)
(212) 771-7391 (Primary Market Information)
Email: NRMSIR@FTID.com
Standard & Poor's J. J. Kenny Repository
55 Water Street
45th Floor
New York, NY 10041
Phone: (212) 438-4595
Fax: (212) 438-3975
Email: nrmsir_repository@sandp.com
(F) Any NRMSIRs that are established subsequently and approved by the
SEC.
(G) A list of the names and addresses of all designated NRMSIRs as of any
date may currently be obtained by calling the SEC's Fax on Demand Service at
202/942-8088 and requesting document number 0206.
4
SECTION 5. NO EVENT OF DEFAULT. Notwithstanding any
other provision in the Ordinance to the contrary, failure of the Issuer to comply with
the provisions ofthis Disclosure Certificate shall not be considered an event of default
under the Ordinance; provided, however, any Series 2004 Bondholder may take such
actions as may be necessary and appropriate, including pursuing an action for
mandamus or specific performance, as applicable, by court order, to cause the Issuer to
comply with its obligations hereunder. For purposes of this Disclosure Certificate,
"Series 2004 Bondholder" shall mean any person who (A) has the power, directly or
indirectly, to vote or consent with respect to, or to dispose of ownership of, any Series
2004 Bonds (including persons holding Series 2004 Bonds through nominees,
depositories or other intermediaries), or (B) is treated as the owner of any Series 2004
Bond for federal income tax purposes.
SECTION 6. INCORPORATION BY REFERENCE. Any or all of
the information required herein to be disclosed may be incorporated by reference from
other documents, including official statements or debt issues of the Issuer of related
public entities, which have been submitted to each of the NRMSIRs and the SID, if
any, or the SEC. If the document incorporated by reference is a final official statement,
it must be available from the MSRB. The Issuer shall clearly identify each document
incorporated by reference.
SECTION 7. DISSEMINATION AGENTS. The Issuer may, from
time to time, appoint or engage a dissemination agent to assist it in carrying out its
obligations under this Disclosure Certificate, and may discharge any such agent, with
or without appointing a successor disseminating agent.
SECTION 8. TERMINATION. The Issuer's obligations under this
Disclosure Certificate shall terminate upon (A) the legal defeasance, prior redemption
or payment in full of all of the Series 2004 Bonds, or (B) the termination of the
continuing disclosure requirements of the Rule by legislative, judicial or administrative
action.
SECTION 9. AMENDMENTS. Notwithstanding any other
provision of this Disclosure Certificate, the Issuer may amend this Disclosure
Certificate, and any provision may be waived, if such amendment or waiver is
supported by an opinion of counsel that is nationally recognized in the area of federal
securities laws, to the effect that such amendment or waiver would not, in and of itself,
cause the undertakings herein to violate the Rule if such amendment or waiver had
been effective on the date hereof but taking into account any subsequent change in or
official interpretation of the Rule.
5
l
I
SECTION 10. ADDITIONAL INFORMATION. Nothing in this
Disclosure Certificate shall be deemed to prevent the Issuer from disseminating any
other information, using the means of dissemination set forth in this Disclosure
Certificate or any other means of communication, or including any other information in
its annual information described in Section 2 hereof or notice of occurrence of a
significant event described in Section 3 hereof, in addition to that which is required by
this Disclosure Certificate. If the Issuer chooses to include any information in its
annual information or notice of occurrence of a significant event in addition to that
which is specifically required by this Disclosure Certificate, the Issuer shall have no
obligation under this Disclosure Certificate to update such information or include it in
its future annual information or notice of occurrence of a significant event.
SECTION 11. OBLIGATED PERSONS. If any person, other than the
Issuer, becomes an Obligated Person (as defined in the Rule) relating to the Series
2004 Bonds, the Issuer shall use its best efforts to require such Obligated Person to
comply with all provisions of the Rule applicable to such Obligated Person.
Dated as of [
], 2004
ATTEST:
CITY OF CLEARWATER, FLORIDA
City Clerk
By: Brian J. Aungst, Sr.
Mayor
6
EXHIBIT E
COMMITMENTS FOR FINANCIAL GUARANTY INSURANCE POLICY
E-l
EXHIBIT F
FINANCIAL GUARANTY POLICY ADDITIONAL PROVISIONS
Additional Covenants with Bond Insurer
Definitions
The following definitions shall be applicable to this Resolution:
"Ambac Assurance" shall mean Ambac Assurance Corporation, a Wisconsin-domiciled stock insurance company.
''Financial Guaranty Insurance Policy" shall mean the financial guaranty insurance 1X>licy issued by Ambac Assurance
insuring the payment when due of the principal of and interest on the Series 2004 Bonds as provided therein.
Covenants Regarding Ambac Assurance Consent Rights
A. Consent of Ambac Assurance.
Any provision of the Bond Resolution or this Resolution (collectively, the "Series 2004 Authorizing Documents")
expressly recognizing or granting rights in or to Ambac Assurance may not be amended in any manner which affects the
rights of Ambac Assurance hereunder without the prior written consent of Ambac Assurance. Ambac Assurance reserves
the right to charge the Issuer a fee for any consent or amendment to the Financing Documents while the Financial Guaranty
Insurance Policy is outstanding.
B. Consent of Ambac Assurance in Addition to Holder Consent.
Unless otherwise provided in the Series 2004 Authorizing Documents and so long as there is not event of default
occurring or continuing under the Financial Guarantee Insurance Policy or the Reserve Surety and no insolvency of Ambac
Assurance, Ambac Assurance's consent shall be required in addition to Holder consent, when required, for the following
purposes: (i) execution and delivery of any supplemental Ordinance or Resolution which seeks to amend the Series 2004
Authorizing Documents as such apply to the Series 2004 Bonds and (ii) initiation or approval of any action not described
above which requires Holder consent.
C. Consent of Ambac Assurance in the Event of Insolvency
Any reorganization or liquidation plan with respect to the Issuer must be acceptable to Ambac Assurance. In the
event of any reorganization or liquidation, Ambac Assurance shall have the right to vote on behalf of all Holders who hold
Ambac Assurance-insured Series 2004 Bonds absent the insolvency of Ambac Assurance or a default by Ambac Assurance
under the applicable Financial Guaranty Insurance Policy insuring such Series 2004 Bonds.
D. Consent of Ambac Assurance Upon Default.
Anything in the Series 2004 Authorizing Documents to the contrary notwithstanding, upon the occurrence and
continuance of an event of default as defined herein, so long as Ambac Assurance is not insolvent and absent a default under
the Financial Guaranty Insurance Policy or Reserve Surety, Ambac Assurance shall be entitled to control and direct the
E-2
enforcement of all rights and remedies granted to the Holders under the Series 2004 Authorizing Documents.
NoticeslInfonnation To Be Given To Ambac Assurance
Notices to be sent to the attention of the SURVEILLANCE DEPARTMENT:
A. While the Financial Guaranty Insurance Policy is in effect, the Issuer shall furnish to Ambac Assurance, upon
request, the following:
(a) a copy of any financial statement, audit and/or annual report of the Issuer
such additional information it may reasonably request.
Upon request, such information shall be delivered at the Issuer's expense to the attention of the Surveillance
Department, unless otherwise indicated.
B. a copy of any notice to be given to the registered owners of the Series 2004 Bonds, including, without limitation,
notice of any redemption of or defeasance of Series 2004 Bonds, and any certificate rendered pursuant to the Series 2004
Authorizing Document relating to the security for the Series 2004 Bonds.
C. To the extent that the Issuer has entered into a continuing disclosure agreement with respect to the Series 2004
Bonds, Ambac Assurance shall be included as party to be notified.
Notices to be sent to the attention of the GENERAL COUNSEL OFFICE:
A. The Issuer shall notify Ambac Assurance of any failure of the Issuer to provide relevant notices, certificates, etc.
B. Notwithstanding any other provision of the Series 2004 Authorizing Document, the Issuer shall immediatelynotify
Ambac Assurance if at any time there are insufficient moneys to make any payments of principal and/or interest as required
and immediately upon the occurrence of any event of default hereunder.
Other Infonnation to be eiven to Ambac Assurance:
The Issuer will pennit Ambac Assurance to discuss the affairs, finances and accounts of the Issuer or any infonnation
Ambac Assurance may reasonably request regarding the security for the Series 2004 Bonds with appropriate officers of the
Issuer. The Issuer will permitAmbac Assurance to have access to and to make copies of all books and records relating to the
Series 2004 Bonds at any reasonable time.
Payment Procedure Pursuant to the Financial Guaranty Insurance Policy
As long as the Financial Guaranty Insurance Policy for the Series 2004 Bonds insurance shall be in full force and effect,
the Issuer and any Paying Agent agree to comply with the following provisions:
(a) At least one (1) day prior to all Interest Payment Dates the Paying Agent will determine
whether there will be sufficient funds in the Funds and Accounts to pay the principal of or interest on
the Series 2004 Bonds on such Interest Payment Date. If the Paying Agent determines that there will be
insufficient funds in such Funds or Accounts, or Paying Agent, if any, shall so notify Ambac
Assurance. Such notice shall specify the amount of the anticipated deficiency, the Series 2004 Bonds to
E-3
which such deficiency is applicable and whether such Series 2004 Bonds will be deficient as to
principal or interest, or both. If the Paying Agent has not so notified Ambac Assurance at least one (1)
day prior to an Interest Payment Date, Ambac Assurance will make payments of principal or interest
due on the Series 2004 Bonds on or before the first (1st) day next following the date on which Arnbac
Assurance shall have received notice of nonpayment from the Paying Agent.
(b) the Paying Agent shall, after giving notice to Arnbac Assurance as provided in (a) above, make
available to Ambac Assurance and, at Ambac Assurance's direction, to The Bank of New Yark, in
New York, New York, as insurance trustee for Arnbac Assurance or any successor insurance trustee
(the "Insurance Trustee"), the registration books of the Issuer and all records relating to the Funds and
Accounts maintained under the Series 2004 Authorizing Document.
(c) the Paying Agent shall provide Arnbac Assurance and the Insurance Trustee with a list of
registered owners of Series 2004 Bonds entitled to receive principal or interest payments from Arnbac
Assurance under the terms of the Financial Guaranty Insurance Policy, and shall make arrangements
with the Insurance Trustee (i) to mail checks or drafts to the registered owners of Series 2004 Bonds
entitled to receive full or partial interest payments from Arnbac Assurance and (ii) to pay principal upon
Series 2004 Bonds surrendered to the Insurance Trustee by the registered owners of Series 2004 Bonds
entitled to receive full or partial principal payments from Arnbac Assurance.
(d) the Paying Agent shall, at the time it provides notice to Ambac Assurance pursuant to (a)
above, notify registered owners of Series 2004 Bonds entitled to receive the payment of principal or
interest thereon from Arnbac Assurance (i) as to the fact of such entitlement, (ii) that Ambac Assurance
will remit to them all or a part of the interest payments next coming due upon proof of Holder
entitlement to interest payments and delivery to the Insurance Trustee, in form satisfactory to the
Insurance Trustee, of an appropriate assignment of the registered owner's right to payment, (iii) that
should they be entitled to receive full payment of principal from Ambac Assurance, they must
surrender their Series 2004 Bonds (along with an appropriate instrument of assignment in form
satisfactory to the Insurance Trustee to permit ownership of such Series 2004 Bonds to be registered in
the name of Ambac Assurance) for payment to the Insurance Trustee, and not the Paying Agent and
(iv) that should they be entitled to receive partial payment of principal from Ambac Assurance, they
must surrender their Series 2004 Bonds for payment thereon first to the Paying Agent who shall note on
such Series 2004 Bonds the portion of the principal paid by the Paying Agent and then, along with an
appropriate instrument of assignment in form satisfactory to the Insurance Trustee, to the Insurance
Trustee, which will then pay the unpaid portion of principal.
(e) in the event that the Paying Agent has notice that any payment of principal of or interest on the
Series 2004 Bonds which has become Due for Payment and which is made to a Holder by or on behalf
of the Issuer has been deemed a preferential transfer and theretofore recovered from its registered owner
pursuant to the United States Bankruptcy Code by a trustee in bankruptcy in accordance with the final,
nonappealable order of a court having competent jurisdiction, the Paying Agent shall, at the time
Arnbac Assurance is notified pursuant to (a) above, notify all registered owners that in the event that
any registered owner's payment is so recovered, such registered owner will be entitled to payment from
Arnbac Assurance to the extent of such recovery if sufficient funds are not othelWise available, and the
E-4
Paying Agent shall furnish to Ambac Assurance its records evidencing the payments of principal of and
interest on the Series 2004 Bonds which have been made by the Paying Agent and subsequently
recovered from registered owners and the dates on which such payments were made.
(t) in addition to those rights granted Ambac Assurance under the Series 2004 Authorizing
Document, Ambac Assurance shall, to the extent it makes payment of principal of or interest on Series
2004 Bonds, become subrogated to the rights of the recipients of such payments in accordance with the
terms of the Financial Guaranty Insurance Policy, and to evidence such subrogation (i) in the case of
subrogation as to claims for past due interest, the Paying Agent shall note Ambac Assurance's rights as
subrogee on the registration books of the Issuer maintained by the Paying Agent upon receipt from
Ambac Assurance of proof of the payment of interest thereon to the registered owners of the Series
2004 Bonds, and (ii) in the case of subrogation as to claims for past due principal, the Paying Agent
shall note Ambac Assurance's rights as subrogee on the registration books of the Issuer maintained by
the Paying Agent upon surrender of the Series 2004 Bonds by the registered owners thereof together
with proof of the payment of principal thereof.
Interested Parties
A. Ambac As Third Party Beneficiary.
To the extent that the Series 2004 Authorizing Document confers upon or gives or grants to Ambac any right, remedy
or claim under or by reason of the Series 2004 Authorizing Document, Ambac is hereby explicitly recognized as being a
third-party beneficiary hereunder and may enforce any such right remedy or claim conferred, given or granted hereunder.
B. Parties Interested Herein.
Nothing in the Series 2004 Authorizing Document expressed or implied is intended or shall be construed to confer
upon, or to give or grant to, any person or entity, other than the Issuer, the Trustee, Ambac Assurance, the Paying Agent,
if any, and the registered owners of the Series 2004 Bonds, any right, remedy or claim under or by reason of the Series
2004 Authorizing Document or any covenant, condition or stipulation hereof, and all covenants, stipulations, promises
and agreements in the Series 2004 Authorizing Document contained by and on behalf of the Issuer shall be for the sole
and exclusive benefit of the Issuer, the Trustee, Ambac Assurance, the
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I) '4-
(
City Council
Cover Memorandum
E.1\l6CJ
Trackina Number: 687
Actual Date: 08/05/2004
Subiect / Recommendation:
Approve Capital Improvement Project 315-92836, Sign/Signal Shop Expansion, in the amount of
$240,000 for Fiscal Year 2004/05.
Summary:
* The project consists of the construction of a warehouse addition to the existing sign/signal shop
at the Public Works Complex on Arcturas Avenue that will double the amount of storage for traffic
operations equipment and material.
* The project will provide out of the weather storage for expensive pavement marking equipment
such as the truck mounted thermoplastic striper, two Apollo Thermoplastic stripers for parking lots
as well as the palletized raw thermoplastic material.
* The project will provide additional space for Public Services and Public Utilities by freeing up the
space currently occupied by the aforesaid equipment.
* This will bring all the field elements of Traffic Operations under one roof for better operations
and coordination.
* Work to be done inhouse by Building and Maintenance.
* Third quarter amendments will establish a new Capital Improvement Program project
315-92836, Sign/Signal Shop Expansion, with a budget of $240,000.00 and transfer Local Option
Gas Tax revenue in the amounts of $205,800.87 from 315-92263, N.Greenwood (MLK) Corridor
Enhancement and $34,199.13 from 315-92555, Intersection (Major) Improvements to fund the
new project. The N. Greenwood project will be closed.
Originating: Engineering
Section: Consent Agenda
Category: Agreements/Contracts - with cost
Public Hearing: No
Financial Information:
~ Capital Expenditure
Bid Reauired? No
Bid Exceptions:
Other
Other Contract?
See summary section.
In Current Year Budget?
No
Budget Adjustment:
Yes
City Council
Cover Memorandum
Budget Adjustment Comments:
See summary on page 1.
Current Year Cost:
$0.00
Annual Operating Cost:
$0.00
For Fiscal Year:
10/01/2004 to 09/30/2005
Total Cost:
$240,000.00
Not to Exceed:
$240,000.00
Appropriation Code(s)
315-92836-541600-541-000
315-92836-565800-541-000
Amount
$120,000.00
$120,000.00
Comments
Building and Maintenance Labor
Construction Materials
Review Aoproval
Michael Ouillen
Bryan Ruff
06-25-2004 13:35:48
07-26-2004 10:07:22
06-30-2004 13:25:02
07-20-2004 10:20:53
07-01-2004 11 :00:45
07-22-2004 21 :36:07
Cvndie Goudeau
Tina Wilson
Garrv Brumback
Bill Horne
u.
o
>-
l-
u
Interoffice Correspondence Sheet
To:
From:
City Council
William B. Horne II, City Manager
Mahshid Arasteh, P.E., Public Works Administrator
Thru:
CC:
Michael Quillen, P.E., City Engineer
Paul Bertels, Traffic Operations Manager
Date:
August 2, 2003
Cost Payback for Sign/Signal Shop Expansion
RE:
The projected payback for expanding the sign/signal shop is as follows:
. The existing truck-mounted thermoplastic striper that is to be stored in the expanded
warehouse is ten years old and was originally scheduled for replacement in FY
2003/04 at an approximate cost of $200K dollars. The replacement value of the
remaining striping equipment to be stored is $60K, which includes in addition to the
truck-mounted striper two handliners for parking lots and a premelter and trailer. In
addition to the equipment approximately $15K dollars worth of palletized
thermoplastic as well as $3-4K dollars worth of glass beads would be stored as well.
. This storage area will extend the life of the equipment by at least five years
meaning the $260K replacement cost will be saved through this period.
. Fleet and traffic personnel have made several repairs and modifications to extend
the life of the equipment all of which depend on the equipment being stored in a dry
environment. The dry environment is necessary to protect the sophisticated control
circuits from corrosion, which could cost up to $10K per occurrence to repair. This
includes downtime from the striping operation.
· In addition to the striping equipment listed above signage components that are used
on a regular basis would be stored in this area including the expanded
neighborhood signage inventory. This would provide storage for signs and markings
in one half of the building and signal inventory in the other half. This would increase
the efficiency of the operation through better organization.
· The availability of this new storage area would free up the covered space that is now
used by the striping equipment and palletized thermoplastic for use by Public
Services.
12'6
O~L.s t
City Council
Cover Memorandum
Tracking Number: 694
Actual Date: 08/05/2004
Subject / Recommendation:
Approve amendments to the Election Code and pass Ord. No. 7325-04 on first reading.
Summary:
The Charter has been amended, taking specific qualification criteria out of the Charter in order to
facilitate changes needed due to Florida Statutes and Pinellas County Supervisor of Elections
requirements. The Charter amendment also required that issues removed be included in an
ordinance; this ordinance meets that requirement. We are recommending the filing fee be
increased from $50 to $100. This fee has not been increased for at least 20 years and will cover
administrative costs. The period between apointing a treasurer and obtaining petition cards is
recommended to be removed with the number of petition cards remaining at 250. The qualifying
period will be the first two full work-weeks in December.
Originating: Official Rec and Legislative Svc
Section: Other items on City Manager Reports
Cateoorv: Code Amendments, Ordinances and Resolutions
Financial Information:
Review Approval
Cvndie Goudeau
07-29-2004
14:18:52
Bill Horne
07-29-2004
12:08: 13
Pam Akin
07-26-2004
10: 15:02
Garry Brumback
07-26-2004
12:33:09
ORDINANCE NO. 7325-04
AN ORDINANCE OF THE CITY OF CLEARWATER, FLORIDA,
RELATING TO THE ELECTION CODE; AMENDING QUALIFICATIONS
FOR CANDIDACY; AMENDING THE FILING FEE; AMENDING THE
QUALIFYING PERIOD; OPTING OUT OF THE PROVISIONS OF
SECTION 101.657 REGARDING EARLY VOTING; MAKING
NONSUBSTANTIVE CHANGES; PROVIDING AN EFFECTIVE DATE.
WHEREAS, pursuant to a referendum held March 9, 2004, the section of the
City Charter pertaining to municipal elections was amended; and
WHEREAS, pursuant to the referendum, regulations of municipal elections are to
be addressed in the Code of Ordinances;
NOW THEREFORE,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
CLEARWATER, FLORIDA:
Section 1. Article 1, Chapter 14, Clearwater Code of Ordinances, is hereby
amended to read as follows:
Sec. 14.01. Definitions.
The following words, terms and phrases, when used in this chapter, shall have the
meanings ascribed to them in this section, except where the context clearly indicates a
different meaning:
Candidate means:
(1) Any person who seeks to qualify for election to the office of mayor
commissioner or council member city commissionor by means of the petitioning process
and who appoints a treasurer and designates a primary depository, who files
qualification papers and subscribes to a candidate's oath as required by law, and who
receives contributions or makes expenditures or gives consent for any other person to
receive contributions or make expenditures, with a view to bringing about his election or
reelection to public office; or
(2) Any person who seeks to qualify as a write-in candidate pursuant to section
14.44.
Supervisor of elections means the supervisor of elections of the county or his designee.
Sec. 14.02. Regular elections.
Ordinance No. 7325-04
@} Regular municipal elections shall be held on the second Tuesday in March
of each year in which the term of any councilmember commissioner expires.
(b) Early votino in municipal elections beains 15 days before the election.
The City of Clearwater exercises its riaht to exempt itself from the provisions of Section
101.657. Florida Statutes. and shall contract with the Supervisor of Elections to provide
facilities and services for early votina. Voters who wish to participate in early votina
may do so at the offices of the Supervisor of Elections of Pinellas County.
Sec. 14.03. Method and manner of election.
(1) Seats on the city council commission shall be numbered, and the candidate
receiving the largest number of votes among the candidates for that seat shall be
elected.
(2) The mayor commissioner seat shall be number 1, the seats for the terms
which expired in 1986 shall be numbers 4 and 5, and the seats for the terms which
expired in 1987 shall be numbers 2 and 3.
(3) The election for seats 4 and 5 shall be held in 1992 and every third year
thereafter, and the election for seats 1, 2 and 3 shall be held in 1993 and every third
year thereafter.
(4) Vacancies occurring on the city council commission between regularly
scheduled elections shall be filled in accordance with the city charter.
*****
Section 2. Article III, Chapter 14, Clearwater Code of Ordinances is hereby
amending to read as follows:
Sec. 14.41. Qualification for candidacy.
*****
(2) All candidates must be at least 18 years of age~ aOO-must have continuously
resided in the city for at least one year as of the first day of the qualifying period. and
must submit an affidavit statina that they meet the residency criteria. At the time of
qualifying for office, each candidate shall pay a filing fee of $1 OO.OOW:GQ plus an
election assessment as required by F.S. 999.093. These amounts shall be paid from
the candidate's campaign account. Candidates shall qualify without identification of
party affiliation.
(~a) Each candidate shall file the appointment of appoint a campaign treasurer
and desianation of designate a campaign depository not more than 180 days before an
election, as a prerequisite to obtaining the petition cards from the city clerk.
2
Ordinance No. 7325-04
1------- -
(1J) Upon filinQ the prerequisite forms. anyAAy person who seeks to qualify as a
candidate will receive 350 of the required printed petition cards from the city clerk. Each
required card shall contain the name and address of the elector, the name of the
candidate and the office being sought. Additional petition cards may be reproduced by a
candidate at his expense, provided that such cards shall be of the same size and format
as the cards issued by the city clerk.
(.Q4) Each petition card must be personally signed by a qualified elector of the
city in the exact manner as the signature of the elector appears on the registration
books of the supervisor of elections. A minimum of 250 petition cards with valid
signatures is required. Candidates will be responsible for the cost of verification of the
signatures by the supervisor of elections.
(6) Any candidate changing the designated office for which he is a candidate
shall be required to obtain the minimum number of valid signatures on new petition
cards bearing the name and address of the candidate and the city council commission
seat number sought by the candidate. Petition cards bearing a city council commission
seat number no longer sought by the candidate shall be deemed invalid.
(7) Candidates may file qualifying papers with the city clerk during regular
business hours at the city hall during the qualifying period. which beQins at 8:00 a.m. on
the first Monday in December and ends at 5:00 p.m. on the second Friday thereafter.
specified in the city charter. Any candidate may withdraw from nomination, but no fee
will be refunded. For the city election of March g, 2004, the qualifying period shall be
December 1, 2003 through December 15, 2003.
*****
Sec. 11.13. I\dditional disclosure statements.
(1) In addition to the disclosure roquiroments under F.S. S 112.3115, oach
candidate and each membor of the city council commission shall prepare and file with
the city clerk in affidavit form a disolosure statement containing a listing without
referenoo to amount of sources of inoome, inoluding trusts, of the parties named in this
section and oach person's spouse and minor children, if any; any interest held by any of
the individuals named in this section in any business 'A'hether it is a partnership,
corporation, proprietorship or holding company; all roal property in the state owned in
whole or in part by the individuals named in this sElction and their spousos; and all
li:Jbilities, individually or jointly, of the individu:Jls named in this section and their
spousos in oxcess of $1 ,000.00, excluding therefrom :J home mortgago, car or boat
mortgage and any retail charge accounts.
(2) If any candidate or momber of the city council commission fails to comply with
this section, then such failuro shall bo doomed grounds for disqualification or romoval
from office.
3
Ordinance No. 7325-04
*****
Section 3. Article IV, Chapter 14, Clearwater Code of Ordinances is hereby
amended to read as follows:
*****
Sec. 14.62. Political committees and committees of continuous existence.
All political committees and committees of continuous existence are required to file as a
committee with the city clerk clerk's department and shall adhere to all regulations in
this article.
Sec. 14.63. Political signs.
Candidates erecting political signs shall comply with the requirements of Community
Development Code Article 3. Division 18. includinq but not limited to Section 3-1805N.1
section '1 '1 .08( 16).
Section 4. Article V, Chapter 14, Clearwater Code of Ordinances is hereby
amended to read as follows:
ELECTRONIC VOTING SYSTEM*
Sec. 14.81. The votinq system is provided as set forth in Chapter 101. Florida
Statutes. Definitions.
The following 'Nords, terms and phrases, 'Nhen used in this article, shall have the
meanings ascribed to them in this section, except where the context clearly indicates a
different meaning:
Eloction bO::Jrd means the clerks and inspectors appointed to conduct an election.
E!oct-ranic voting 'latina system means a system whioh includes those components set
out in F.S. ~ 101.5606, and apparatus necessary to automatically examine, count and
record votes.
Eloctronic voting system b::Jl.'ot means a ballot which is voted by the process of
punohing or marking with a marking device for tabulation by autematic tabulating
equipment or data processing equipment.
Official ballot means printed sheets appearing in booklet form containing the names of
the candidates nominated and a statement of the questions submitted.
Q{;}ostion means any charter amendment, proposition or other question submitted to the
voters at any election.
4
Ordinance No. 7325-04
Sec. 14.82. Use authorized.
The use of the electronic voting system provided by the supervisor of elections for the
conduct of all elections held by the city is hereby authorized.
Sec. 14.83. Testing.
The city clerk shall have the electronic voting system equipment at the proper polling
place before the time fixed for opening of the polls, and in good and proper order for use
at such elections. ,^J, least 15 days prior to an election, a written notice shall be mailed to
each candidate whose name will appear on the ballot, stating Notification of the time
and place where the pre-election logic and accuracy testing of the equipment shall take
place shall either be oiven to each candidate at the time of aualifvina or sent certified
mail to each candidate at least 15 days prior to the election. Following each test
procedure the test results shall be sealed. The results of such testing procedure shall be
certified by a representative of the city canvassing board and the city clerk. All such
certification shall be accomplished in the manner provided by F.S. ~ 101.5612.
Sec. 14.84. Number of units required.
The city clerk shall determine the actual number of electronic voting devices HRits to be
used in each precinct at each election. In determining the number of voting devices
HRits to be used in each precinct, the city clerk shall take into consideration the
requirements of state law and the traditional voting patterns of each precinct, and shall
furnish the number of electronic voting devices HRits necessary to handle efficiently the
number of anticipated voters in the precinct.
Sec. 14.85. Offioial Ballots.
Official Baallots shall be of the form and description as required by state law. Names of
candidates shall be grouped by seat number and, within each group, shall be listed in
alphabetical order.
Sec. 14.86. Instruction of election boards.
At least 20 Not more than 21 days prior to date of an election, the city clerk, assisted by
representatives from the supervisor of elections, shall instruct the election boards who
are to serve in the election, such instructions to relate to each duty assigned the
election boards, including but not limited to instruction in the manner of preparing the
electronic voting devices system equipment for use and the manner of running a test
ballot. The supervisor of elections shall maintain an attendance report signed by each
member of the election boards indicating that each member has attended the instruction
session.
Sec. 14.87. Duties of election boards.
5
Ordinance No. 7325-04
I-
I
!
The election board of each polling place shall arrive at the polling place one hour before
the time set for opening of the polls, and shall arrange the polling place and electronic
voting system equipment for the election. In preparing and operating each polling place,
the election board shall utilize procedures outlined in the most recent edition of
Instructions for Poll Workers as provided C.E.S., Votomatic Voting System, Pinellas
County, Florida, published by the county supervisor of elections.
Sec. 14.88. Certificate of results.
In each election where electronic voting devices ooits are used, a tabulation report of
the results shall be provided to the canvassing board and filed with the minutes.
Section 5. This ordinance shall take effect immediately upon adoption.
PASSED ON FIRST READING
PASSED ON SECOND AND FINAL
READING AND ADOPTED
Brian J. Aungst
Mayor
Approved as to form:
Attest:
Pamela K. Akin
City Attorney
Cynthia E. Goudeau
City Clerk
6
Ordinance No. 7325-04
Chi Chi Driving Range
6 Field Soccer Complex
'I-5-of
Soccer fields at Chi-Chi's Driving Range
2 story concession, restrooms press box bldg.
elevator -lump sum
sanitary sewer lump sum
water -include fire hydrant -lump sum
water tap - lump sum
civil works - inlets (catch basins)
civil works - out fall structures
civil works - reinforced concrete pipes 15" dia
clearing and grubbing - sq. ft.
Dumping charges for debries - lump sum
Site Grading Lump sum
water tap - lump sum
silt fence lin. ft.
sign-plates-rules & dedication
site work - concrete flat work 4" conc. arch. Finish
site work - concrete flat work 6" conc. arch. Finish
asphalt - subgrade compact,6"limerock asphalt2" sJ.
6"x6"x12" conc. Header curb lin. ft.
type f curb lin ft.
wheel stops
grass sq. ft.
6' high double pvc gates 12' - wide
Soccer lighting system - lump sum
electrical service
bermuda spriging 19 acres sprigging include fert. estab
site furnishings - trash recepticals
site furnishings - bleachers - relocate Jack Russell
site furnishings - drinking fountains
site furnishings - scores stations
site furnishings - score boards
site furnishings - flag pole and flag
site furnishings - park identifcaiton signage dbl sided
site furnishings - rules sign
site furnishings - picnic tables
benches - 4' back less
site furnishings - picnic tables - ADA
irrigation system - sq. ft
irrigation system - well
irrigation controller
landscaping - bahia sod
landscaping - live oak trees 3" cal 50 gallon
landscaping - shrubs 3 gallon
landscaping - 30 understory trees 20 gallon
landscaping - bird of pardise 7 gallon
landscaping - ground covers 1 gallon
landscaping - pine bark mulch med. Size cu yd
parking lot lighting by florid a power - lease up front fee
FL Power lighting is rough #'s refine less w/soil boring
Architectural fees
quantities cosUunit total cost
2350
2
1
1
1
12
4
1600
900000
1
900000
2
3,500
10
25,000
10,000
80000
13000
300
475
10,000
5
423,000
1
19
24
100,000
4
6
6
1
2
6
15
10
2
825000
10,000
3,500
75,000
200
2500
100
50
20000
1000
2,500
o
20000
95
15,000
100000
150000
3500
3600
4200
67.8
0.25
20000
0.15
3500
0.65
350
2.85
3.15
4.51
4
12.75
18
0.27
1,800
1
3500
3,500
310
1
1,500
617
3500
3500
2700
475
600
425
500
0.25
1
2
0.17
150
5.5
75
17.5
3.75
15
1
o
1
223250
30000
100000
150000
3500
43200
16800
108480
225000
20000
135000
7000
2275
3500
71250
31500
360800
52000
3825
8550
2700
9000
423000
3500
66500
7440
100000
6000
3702
21000
3500
5400
2850
9000
4250
1000
206250
10000
7000
12750
30000
13750
7500
875
75000
15000
2500
o
20000
encumbered
cost
playground unit
Note no engineering cost are provided to be performed
by city?
blue items to be performed by city staff
irrigation cost can be reduced to $50 - 75K if city staff
install system for material purchase only
All other cost shown are contracted out
sub-total cost
contingencies 5%
Total Cost of Project
amount left in budget after encumbered cost
1 25,000 25000
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
2690397
0.05 134519.85
2824916.85
McMullen Sports Complex Project
. Project - Partnership between Pinellas County, City of Clearwater and the city of
Safety Harbor and the Chi Chi Rodriguez Foundation to swap the existing
Countryside Sports Plex located on the west side of McMullen Booth Road with
the Foundation for city property currently leased by the foundation from the city
on the east side of McMullen Booth Road which currently has a driving range on
it. This project was first brought up by the foundation as a way to consolidate
their operations after the closing of the Glen Oaks Golf Course. The current
Countryside Sports Complex has four multi purpose playing fields, support
facilities and inadequate parking which causes unsafe conditions along McMullen
Booth Road with illegal parking. The swapping of properties would allow for the
construction of six multi purpose fields, support facilities and ample parking for
any events at the facility.
. Advantages - Provides the foundation with contiguous property to operate the
driving range on the same side of the road as the golf course. Provides the city
with a larger site so that there would be a net increase of two additional multi-
purpose fields and increased parking to support a six-field complex, which is a
current problem at the existing complex.
. Disadvantages - Driving range would need to be out of service for a year while
the new complex was being built. No current city funding to complete the
project.
. Users - Currently between the Countryside Youth Soccer Association
(competitive and recreational) and the Countryside Jr. Cougars Football Program
there are 1475 participants in the various programs offered which far exceed the
capacity of the facility, which has led to deteriorate fields. Ofthis total only 506
(34%) are residents of the city of Clearwater, 394 (27%) are residents of
unincorporated Pinellas County, 377 (25%) are residents of Safety Harbor, 138
(9%) come from various incorporated areas of Pine lIas County and 60 (4%) come
for areas outside of Pinellas County.
· Funding - The proposed project funding has been established at $2.8 million.
Contributors would receive reciprocal use ofthe facilities as a Clearwater resident
would. The City of Clearwater's share would be the land and approximately
$700,000 of in kind support (city work forces and CIP). Discussion with Safety
Harbor and Pine lIas County was for their funding to be at $1.05 million each with
an approximate $75,000 - $85,000 per year each for operating cost. Safety
Harbor has committed (and budgeted) $1.05 million and is prepared to
recommend the O&E funding in the next fiscal year assuming the project is
completed. Pinellas County is now saying that they can only provide $700,000
and no O&E monies but that we can apply for an annual MSTU grant for a
portion of the maintained. The counties position is that they should only fund
27% of the project, as that is the amount of unincorporated residents. In addition,
their position is that this is a substantial contribution (their largest to date) and as
such should allow them access to a greater number of programs and facilities.
· Discussion - The concept was to have the three major partners (86% of the users)
develop a three way sharing of the project. Clearwater and Safety Harbor have
agreed to this. Pinellas County has now informed us that they are not subscribing
to this. They will only agree to roughly 27%. Ifwe followed this concept it
would be impossible to secure funding from the remaining 13% ofthe users
jurisdiction as that is made up of close to 15 entities. In addition, without the
funding, the city would be left with making up the balance, which has been what
the City of Clearwater has been doing for many years.
Without Pinellas County participation, the project fails due to lack of funding.
The best alternative at that point would be to move forward with city and Safety
Harbor funding and renovate the existing complex. Once renovations were
completed maximum quotas on each of the programs, which operate out of the
facility, would be established. City of Clearwater and Safety Harbor residents
would be given priority in filling the quotas established for each program. If slots
were available after taking care of Clearwater and Safety Harbor residents, other
"non-residents" would be allowed to register at much higher non-resident rate.
This concept would protect the facility and provide fields for residents of
Clearwater and Safety Harbor, but also would negatively impact traditional users
of the facility. Maintaining the status quo would only continue to deteriorate our
existing multi purpose facilities.
1 If 2-
m
June 14, 2004
Mayor Brian Aungst, Sr.
City of Clearwater
Offices of the City Council
P.O. Box 4748
Clearwater, FL 33758-4748
Dear Mayor Aungst,
The Pinellas County Coalition for the Homeless (pCCR) is seeking the financial support of the
County's HUD-funded jurisdictions to fulfill its federal- and state-designated role of Lead Agency for
homeless services throughout Pinellas County. It has become steadily more difficult for this all-
volunteer, non-profit, 501(c)(3) organization to meet the expectations of both federal and state
agencies to be the local leader in developing a system to address and end homelessness in our
community. Please see the attached State and Federal expectations of the Lead Agency.
HUD funding for Supportive Housing Projects for homeless persons alone is more than $2 million per
year in Pinellas County. There are 13 agencies in our County that receive this funding for programs
and services, which is awarded as a direct result of the consolidated application through PCCH as Lead
Agency.
Pinellas County and the cities of St. Petersburg, Clearwater, and Largo are designated jurisdictions that
receive other HUD funding which comes to us, in part, because their Consolidated Plans include the
description of homeless services that is written annually by PCCH, called the Continuum of Care
(CoC). HUD emphasizes that the development of a Continuum of Care be an inclusive process that is
coordinated with the community's larger effort of developing a HUD-required Consolidated Plan.
These jurisdictions also utilize the annual count of homeless persons conducted voluntarily by PCCH
member agencies as well as the Continuum of Care narrative in the annual updates of their
Consolidated Plans.
President Bush and the United States Interagency Council on Homelessness have issued a challenge to
communities to end chronic homelessness by 2012. At this point, 117 cities have completed, or are
creating a Ten Year Plan to End Chronic Homelessness. HUD dollars and other federal funding for
homelessness are being linked to the progress that communities are making in achieving their Ten
Year Plans. To the best of my knowledge, only the City of St. Petersburg has made a commitment to
participate in this effort, or to develop a plan of its own.
The Pinellas County Coalition for the Homeless has completely outgrown its voluntary status, and now
needs full time professional staff filling the role of Executive Director. We are seeking the financial
support of Pinellas County Government and the Cities of St. Petersburg, Clearwater, and Largo, which
Pinellas County Coalition for the Homeless
receive HUD dollars as designated jurisdictions. Given the growing challenges from HUD and also
from Florida's State Office on Homelessness, the Pinellas County Coalition for the Homeless
believes that it is imperative to formalize the role of "Lead Agency" immediately, and begin to build
capacity to perform the many functions that a Lead Agency is expected to be capable of fulfilling. We
cannot fulfill this leadership role without paid professional staff to represent the coalition, which has
countywide representation, including staff from Pinellas County and the City of St. Petersburg.
PCCH is requesting funding for 18 months, to coincide with the final report of the consultant now in
place to analyze homeless issues in our county. From the county we are seeking $65,000.00 for 12
months, and $32,500 for the remaining six months from the cities of St. Petersburg, Clearwater, and
Largo, a total of $97,500.00. This will support one professional staff person, either on salary or
through contract, as well as some telephone, internet, operating and transportation costs, to function as
the Executive Director of the PCCH for 18 months.
As in-kind, the Coalition will provide office space with utilities, a computer, and support. The
Coalition currently devotes approximately $30,000.00 of State Grant-In-Aid funds to a halftime office
support staff person and a part-time contract manager. The PCCH has arranged for technical
assistance through the Florida Coalition for the Homeless to explore how other local Coalitions have
funded their professional staff. We are expecting that the work of the county's consultant will clearly
reveal the need for this funding.
Pinellas County's pro rata share ofHUD funding for homeless services ($2,074,779) is based on the
following jurisdiction percentages through HUD's formula: Pinellas County - 52.44% ($1,088,208);
St. Petersburg - 38.46% ($798,057); Clearwater - 6.08% ($126,175); Largo - 3.02% ($62,339). This
funding for homeless services comes through PCeH as Lead Agency, as does other State funding such
as State Grant in Aid funds, Challenge Grant funds, and Housing Homeless Assistance funds. PCCH
performs functions similar to the community development departments of these jurisdictions, but with
one part-time contract manager. We no longer can operate effectively with no paid executive staff to
oversee contract management and to function as the county's visible representative for homeless
services and issues.
The benefits of funding PCCH are multiple:
1. A paid executive director will work with the County consultant and other City and County
officials in their efforts to develop coordinated plans for homeless services in Pinellas County
2. That person will work with the Executive Council of PCCH to develop the capacity within the
Pinellas County Coalition for the Homeless to strengthen the Lead Agency's role in the county
3. Pinellas County can join other cities, counties, and states in responding to the President's
challenge to end chronic homelessness in 10 years (now down to 8 years).
4. The Consolidated Plan process of each of the four jurisdictions (County, St. Petersburg,
Clearwater and Largo) will be directly coordinated with homeless services and efforts to end
homelessness.
The timing of this proposal is crucial, if the existing expertise of PCCH is to be incorporated into a
renewed policy and funding environment for homeless services in Pinellas County. PCCH is
committed to preserving and enhancing the funding levels that we have for homeless services in this
county, while acknowledging that the PCCH does not at this time have the internal capacity to perform
all the functions of the Lead Agency. We must build the capacity, and funding this proposal will
accomplish that goal.
Page 2 of3
, ,
Pinellas County Coalition for the Homeless
I look forward to hearing from you to discuss this proposal, and the steps needed to move forward in
Pinellas County in providing effective services to end homelessness. In closing I am including the
words ofHUD, as expressed in this year's SuperNOFA, section I.A.3, page 27497,
"For a community to successfully address its often complex and interrelated problems,
including homelessness, the community must marshal its varied resources - community and
economic development resources, social service resources, housing and homeless assistance
resources - and use them in a coordinated and effective manner. Coordination with state
and local] O-year-plans to end chronic homelessness and Interagency Councils on
Homelessness is also crucial to developing an inclusive CoC system. "
Sincerely,
Ed Brant
President
Pinellas County Coalition for the Homeless
Enc: Lead Agency Responsibilities
Interagency Council on Home1essness Newsletter
cc. Commissioner Susan Latvala, Pinellas County Board of County Commissioners
Mayor Robert E. Jackson, City of Largo
Mayor Rick Baker, City of St. Petersburg
Page 3 of3
1S' '1v
Reehling, Dottie
From:
Sent:
To:
Cc:
Subject:
Goudeau, Cyndie
Thursday, August OS, 2004 11 :04 AM
Kaushal, Mona; Reehling, Dottie
Diana, Sue
FW: Council Discussion Item 15.2
Mona - please attach the below e-mail to the item in FYI.
Dottie - please print and place at the Council's seats for tonight's meeting.
Thanks.
-----Original Messagem--
From: Brink, Carolyn
Sent: Thursday, August OS, 2004 9:47 AM
To: City Council
Cc: Akin, Pam; Blunt, Betty; Brumback, Garry; Goudeau, Cyndie; Horne, William; Reporter
Subject: FW: Council Discussion Item 15.2
-----Original Message--m
From: Jonson, William
Sent: Wednesday, August 04,200411:43 PM
To: Brink, Carolyn
Cc: Horne, William; Akin, Pam
Subject: Council Discussion Item 15.2
TO: Fellow Council members
FROM: Bill Jonson
SUBJECT: Land Development/CDB discussion Request
I would like to narrow the scope of the Councilmember Discussion subject that I asked to be placed on the agenda.
My interest is the philosophy behind the DRC and CDB decisions for Flexible Standard Development and Flexible
Development as they relate to two elements of the code criteria for approval:
"Section 3-913. General Standards for Level One and Level Two approval "Conditions which are imposed by the
community development coordinator and the community development board pursuant to a Level One or a Level
Two approval shall ensure that:
"1. The proposed development of the land will be in harmony with the scale, bulk, coverage, density and
character of adjacent properties in which it is located.
"5. The proposed development is consistent with the community character of the immediate vicinity of the
parcel proposed for development."
As I observed CDB meetings I sense more struggle over these two concepts than any other.
After five years since the adoption of the current Land Development Code, it is time to pause and check our course to
determine if we all have a common policy understanding of this segment of the code.
I look forward to our discussion.
1