96-24' ` �
' RESOI,UTION NO. 96-24
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A RESOLUTION OF THE CITY CONlMISSIOPT OF THE
CITY OF CLEARWATER, FLORIDA, PROVIDII3G FOR THE
REDEMPTIOPI OF ALL OF THE OUTS't'ANDIPdG CITY OF
CLEAI2WA'1'Elt, FLORIDA, PARItIIJG SYSTEM REVEPTUE
BONDS, SERIES 1983? PROVIDII3G FOR THE
PUBI,ICATION OF THE NOTICE OF REDEMPTION;
PROVIDING CERTAIN OTHER MATTER5 IN COIdNECTION
THF.'REWITHi AND ES�Y'1iBLISHING AN EFFECTIVE DATE.
63HE�tEAS, th� City of Clearwater (th� "City°) has determined
that it has on deposit in various funds and accounts, funds
suf�iciea�� to rede�m �].1 of th� curren�ly outs�anding City of
Clearw��er, Florida Parking System Revenue Bonds, Series 1983,
da�ed as of January 7., 1983 (the "Redeemed Bonds"), which are
scheduled to mature on January 1, 1997 and January 1, 1998; and
WI�EREAS, �he Bonds hawe been subj�ct to optional red�mption as
of 3�nuary 1, 1990; and
WHEREAS, the City has det�x�z�+z�ed to call the Redeemed �onds
for optional redemption and to dire�t The Bank of Aiew York, New
York, New York, successor to NCNB I�atzonal Bank of F3.oricla, Tampa,
Florida, the Paying Agent far the Redeemed Bonds (�he "Paying
Agent"), to publish notice of such redemption and to take s�ch
further action as may be required by Orc�3nance No. 2799-82, as
amended and supplemented, securing the Red�emed �onds (the "Bond
Ordinance");
NOW, THEREFORE, BE IT RESOLVED $Y 'L'HE CITY COMt�TSSION OF THE
CITY OF CLEARWATER, FLORIDA, AS FOLYAWS:
SECTION 1. The Finanae Diredtar of the Ci�y is hereby
authorized and directed to call for optionai redemption pursuant to
the Bond Ordinance the Redeemed Bonds on July 1, 1,996 (the "Call
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Date"), as permi�ted by the Bond Ordinance, for which the City
shall then have on deposit adequat� and suf€icient funds for such
redemption. The Redeemed Bonds are hereby irrevocably called for
red�mption on the Call Date, at lOQ� of the principal amount
t�ereaf as set forth in Resolution No. 83-37 of the City. Prior to
the Call Date, th� Ci�y's Finance Dir�ctor is her�by authorized to
deposat £unds of the City to be use@ to redeem the Redeemed Bonds
with ��e Paying Agent pursuant to arrangements satisfactory to the
Ci�y°s Finance Directo�, the City Attorn�y and the City's Bond
Counsel.
SECTION 2. The Finance Director is hereby direc�ed to provide
notice of such redemption to the Paying Agent at least forty-five
(45) days before the Cail Date.
SECTION 3. The Paying Agent is hereby authori�ed and dir�cted
to publish a rede�ption notice substan�ially in the form attach�d
heretp as Exhibit 01A", at lea�t thirty j30) days prior to the Ca11
Date in a financial journal of general circulation in the Borough
of Manhattan, City and State oi Neca �ork.
SECTION 5. This resolution may be am�nded, rep�aled or
supplemented by the City provided such aGtion is adapted not latex
than forty-five (45) days prior to the Ca11 Date; othe�wis� thi�
resolution shall be irrepealable and the dir�ction given �o the
Finance Director and the Paying Aqen� shaZl be irrevocable.
SECTION 6. Al1 capitalized undefined �erms �sea herein shall
have the meanings set forth in the B�nd Ordinance.
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SECTION 7. This resolution shall beccme effective immediately
upon its adop�ion.
Passed and adop�e�. by the City Commission of the City of
Clearwater, Florida, this 4th day of April , 1996.
. Rita Garve
a'�"t�17p��COIItAl1SS 1.OY1@C
1�'�te8� "
�'• 'd�..�..�.�.�
Gy Pi�ia E : �oucle�u �
Ci.iy CI:Prk
Appro�red as �o form
anci legal sufficiencyo
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P�mela K. Akin
City l�ttorney
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EXfIIBIT A
NOTICE OF REDEY+IPTIOPi
CITY OF CLEARWATER, FLORII3A
PARKIT�TG SYSTEM R�VENUE BONDS, SERIES 1983
NOTTCE IS HEREHY GIUEN that all of the outstanding City of
Cle�rwater, Florida, Park.ing System Revenaxe Bonds, Series 1983,
listed hereinl3elow, have been irrevocably called for redemption on
July 1, 1996, �t Z00� of �he principal amount thereof.
MATURITY D.��'E PRINCIPAF, CUSIP
OF BOPTAS AMOUNT NUA�BER
Januaay 1, 1997 $100,000
Januazy 1, 1998 $110,000
Payment of the principal amount of said Bonds, with premium,
wi11 be made on or after the redemption date of July 1, 19960 �apon
the presenta�ion of sai�d �onds at the of�ice of Th� Bank of New
York, 10Z Barclay Street, Lobby Leve1, Carporate Trust Deliveri�s,
Nee� York, New York 10286, Attention: Kevin Young, as successor to
NCNB National Bank of �'lorida, as Paying Agent for said Bonds.
Interest on said Bonds accruing to or psior to 5aid redemption da�e
wi11 be paid in �he usual manner. Tnterest on said Bonds will
cease �o accrue grom and after saad �edemption date.
Dated this day of , 1996.
TFiE BAPYK OF NE'tra i'ORK
�s Payir�g Agent
By
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