05/25/1936-
Mzrr�rr�s oF T� c�� cor�zsszox
NIAY 25� 1936
A regular meet3ng of tne Citg CoIInnission of t�� City oi` Clear�ater,
Florid�.� ,�ag r_e�a on the 25th day of �dag,, 1935, at 7:30 0� clock P,M.
The meeting was called to order bg the Mayor-Co�missioner and upon
rq11 ca7.1 the iollov�in.g answere� present: `
Magor-Co�ssioner R. E. Green,
Co�nissioners R. L. Baker� J, A,. Barrg, D.Q.Batchelor and L.A. Marsh.
Coanni�sionar Batchelor introduced the followir,g entitled Resoltztion:
°RESOLIITSON AIITHORIZING THE R.EFtINDING OF iSE CI�Y'tS QTJTSTANDING INDFF�TII7�
NESS BY' THE ISS'UANCE OF REF'tTr1DIATG BONDS AND DE;LINQUENT TAX NOTES, °�hich
was read in i"�t"1.1 and after discussion thereof Co�i.ssion.er Batchelor moved
that the Reso7.ution as reac3 be a�.opted, which motion was seconded by
Co�mn3.ssioner �arsh; upon r•oll ca11 the Pollcming vote was polled:
Ayes: �fayor-Commissionor Green Mr. Batehelor
Mr. Marsh Mr. Barr�
Mr, Baker
Nays: None.
� Thereupon the Mayor-Commissioner decZared the Resolutian duly adopted
and signed the s�:me as �'ollorrs e
�
�
i
,
0
� , .
RESOZIITIOV AIITH�JIitZING TAE R�FUNDING
QF THE CITYtS QUTSTANDING INDEBTEDNESS
13� THE ISSU�'iNCE QF R�+FUNDING BONDS AND
DELINQUENT TAX NOTES.
Wi�RrAS, the City of Clearwater has outstanding a bondad inaebtedness
hereinafter more particularlg described aggra�ating 3.n principal amount
�5,110,1.�.00.00, upon cvhich unpaid interest has �carued to Ma� Z5t�, i936,
in the aggregate approximate amount of �75A,000.00 and additional interest
thereon w3.7.�. c�ntinue to accrne; and -
WHEREAS, a considerabls part of such indebtedness has matured and.
�the balance thereof and additional accruals of �.nterest tY�.ereon will
mature in such amount� and at such tiznes as to irspose up�n the Ci�y ��o
great a burden for it to mec�t, and it 3s in the interests of the Ci'ty� and
its creditors that sur.h inciebtedness be readjusted and rEfunaed; and -
4�1HER�AS, such. indebtedness was incurred prior to �7anuary 1st, 1q31,
and �re holaers thereof, by vi:rtue of the la.svs in e�istence at the time
oi' incurring such indebtedness, have the legal right to require that
taxe3 for the payment thereof be levied on all property aub�eet to taxation
at t�e time such indabtedness was incur•red, including homesteads exempted
from ta.Yation bg the am.er�d.ment ratified November 6th, 193L�., ad.ding
Section 7 to �rticle X of the Constitu�ion o�' Flarida, and to requi.re tk±e
co1].ection of such taxes in cash at the same time and iri the sarne ma�ner as
other taYes levied by the City and to otherwise enfarce the3r claims and
the security therefor independently of an� restrict3ons or iimitations upon�
the enforeement thereof enacted by the State T,egislature since January lst,
193�, and while � considera'�le number oi' such creaitors are willin�; to
extend the matvsity o� their claizcs snd agree to a reduct�.on in interest
thereon, nevertheless �hey are r�ot w�l7.in.g to so readjust and refund their
claims unless the rei`undin� obli'�;atior_s isaued in e�chanoe therefor have
the e ame seeurity and aro enti�tled to the same romedies and ri�hts of
enforcement as exist�a prior to January lst, 1931, and now apportain to
said outstandi.ng claims; and ?
WSEREAS, in order to permi.t oi' a readjustment and refundin� that wi7.l
be acceptable to its creditors, �the Cit9 deems it advisable and necessary
to aut:norize the issua:nce of refianding obligations under such terms and
c�nditions as wi17. resarve to the holders thereof the right�, security
and remedies nolti a4ailable to them as holders of the City�s present
outstanding indebtedness;
�
ti.__. _ _ _. , __ . . _._ . _ _
�
NOW, TFIEREE'QREz BE IT RESOLVED B�'' THE CITY COhSMISSION aF THE CIR'Y'
OF C�EARWATER, FLGR�'DA :
S�CTIOI�T I. It is hereby found and determined thai: prior to
xlo�rember 12th, 192�.}., th� follovPing described obligations of �he C�?ty of
Olearvrater were duly issv.ed for municipal purpo�es othzr than. citg ha11 and
eq_u:tpment, water works and equipment, gas plant and. equ:i:pment and parks of
said City, and now constitute valid outstanding indebtedness, for the pay-
ment of v�hicr all �roperty within the present territorial limits of �he
City of Cleartivater, exclusive of that certain �rnpert� anneaed to said City
'b's Chapter io39i and Ghapter 10391.{., Lazvs oi Florida, 1525, and e�cepting
such proparty as was examptad from taxation by the Constitution of Flo�ida
prior to Novamber E, i931�, is stitbject to ta.xation �aithovt limitation of
rate or amount, viz;
N�IOUNT TITT�E OF ISSUE DATE INTER�ST RATE
(Bonds issued 1� Town o2 Cleas�7 aterj
�11.�, 000.00 Se�ves�age System Borid �{-;._1p 5�/,
35,15o.Q0 City Improvement Bond lo-i-Z2 5�
"12, 000.00 Street Paving Bond 11-1-1�}. 5 0
17,000.00 Se�rer System Bond 11-1-1l.�. ti a
5, OOO, oA Drainage Bond �].-? -71{. 5�
11, 000.00 Funding ESonc'�. 11-1-1�}. 5�
(Bonds issued by City of Clearwater)
36,960.00 Funding Bond �.-1-15 5�
2$,000.00 Municipa3. Street Improvemen� Bond 11-1-�,9 5�
11.�1.,000.00 �unicipal Improvement Bond f�.-15-22 6�
3,000.00 Improvement Bond 3-1-23 6�6
3,o00�Q0 Improvement Bond 2-1-23 b�
3, 000.00 Improvement Bond D 1;.-1-23 6 0
6,000.00 Improvement Bond E 5-1-23 6�0
6,000.00 2mprovemen.t Bond F 7-1-23 6�
1,0OO.OQ Improvement Bond G $-15-23 bo
8,900,OG Improvement Bond H 5-15-2I�. 60
SECTTON 2. It is hereby found and determined that prior to
Noveznber �.2th, 192�}., the following described obligations of the Gii:y of
Clearwater were duly i�sue�. for purposes of city hall and equipment,
water works and equipmen-�, �as plant and equipment and parks of said city�
and now constitu�e valid outstanding inda'atedness, for the pa�ment of which
�11 property within the present �err3.t�r3.a7. 13.m3.ts of the C� tv af Glc�arwater,
�'
�
�
exclusive of that carta3.n propertry annexad to said City by Ch�:pter a.o394>
Latvs of Florida, 1925, and exaeZst3ng �uch property 4.�? was exempted frem
taxation by the Coi�stitution of Florida prior to November bths 1�j3�.E., is
sub�ect to taxation �vitheut limitation of ra�e or amount, �lz;
AMOUNT TITF,E OF ISSIIE DATE I�ITEREST F.ATE
(�onds issued by mo�m o� Clearvva�ar)
�-,`,21.�., OOO.OU Waterwbrks Bond 4-1-10 5°�
1,850.;00 Cit� Improvement Bond 1C1-1-12 5�
8,000.00 l�aterworks Bond I-7--1-7.1� 5f
3,000.00 Public Park Bond 11-1-11}. 5�
�o, 000.00 filater Front Bond 11�1-I!{. 5 f
(Bonds issued by C3.ty of Clear�vater)
5, o�.o. oo �ain g Bona �.-i-ib 5 0
8,CJOOaDO Park Bond 1-1-17 5�0
30,000.00 Muni.cipal Park Bond 5-1-20 6�
�}.5, 000.00 Ir4unicipal Park Bond 3-Z-21 6°�
8�.E.,000.00 1�4uni�ipa7. Improvement Bond 1.�.-15,�22 6f
25,000.00 R4Lmicipal Park Imyrovement Bond ].2-�-22 6f
20,000.00 Municipal I'ark Bond 6-1-23 6�
150, 000.00 I�unic:Lua3 Gas Bond 5-1-2l� 52�/
a
SECTIOId 3. :Ct is hereby found and determined that since
April 2l�.th, 1s25, the fol��wing clescribed obligations of �ho City of
Clearwater were duly issued for municipal purposos and now constitute
nalid outs��nding indeb�edn:ess, for tlze payrrient of which a1Z property �
�rI.thin the present territorial limits of the City of Claarwater, excepting
such property as svas exemnted from.taxation b� the Constitution oi' Florida
prior to I�Tovembar 6th, 1931.�., is subject to �axation without limitation
of rate or cunoun�, viz : ,
AL�40Lfi+�'P TITLE OF ISSUE DATE INTEREST 'Y�AT� °
i
;, ( Bonds issrzed by C:tty of Clearv�ater ) �
i
�31.}.$,OOO.OG Nunicipal T�provement Bond 7-1-2�} 52� !
738,000,00 N��anicip�l Improvement Bond 5-1-26 6f
381,000,00 N;unicipal Impxovement Bond j-Z-26 bo
36i�000.OG Improvemen� Refunding Bond 6-i-z7 5Q�
7.8$, 000.00 Improv�ment Refunding Bond 3-1�-28 5.4 �
300,o00.00 Tmprovement Re�uncling Bond 6��.-29 6�
128,000«00 7mprovement Pefunding Bond 3-1-3� 6�
50, 000.00 Tmprovement Bont7. Series A 6-7.-25 6�
-
.�_�_��rt . � ' _..
373,OOOo00 ImProvement Bond Series B 10-1 25 6�
9a��0.00 Improv9ment �ond o
$-1-z5 6q
38,�Qp.00 Improvsment Bo�2d 1�-15-25 6f
39,000,00 Improvement Bond
12-�.-25 6�
2?9,000.00 Improvement Bond 5eries C 12-1-25 6°a
6,500.00 Improvement Bond Series A-1 3-1-26 (�
3�1-a ���•00 Improvement B:�nd Series A;-2 8-1-26 6�
533,OGO.Op Impxovement Bond Series D 1
5-��26 52�
1�4.,000,00 Improvement Bcnd Series B-1 8-I-26 6�
51.�.,000.00 Improvement Eond Series E 10-1-26 6�
97, 000.00 Improvement Bond Series B-,2 l..l_27 6�
79,000.00 Tmprovement Bond Seri9s B-3 �.-1_27 6/
`j3,000.A0 Tmprovement Lond Series B-� 5_1..27 (�
2,000,00 T�provement Bond Series F 11_Z..27 6�
21.�1.9000.G0 Improvenent Bond Series C-� 12-�1�27 (;
SECTION , Rafundin� Bon�3s, Series A, in t�e principal amount oi
�PZ!-s355s500.00, are herelry authorized to be issuecl for ths purpose of
refunding the principal of �the bonds set for�h in Seetion 3 hereof. T�es
sv.fficient to produce the sums required for the �;ayxnent caf principa.l and
interest of said Refund3ng 73onds, Sories A, will be levied upon all
proper�y within the present territorial limits of the City of Clearwater
v�hich �Nas not exemptsd from taxation by the Con3titution of Florida as it
exis�ed immediately pr3,or to November 6th, 193l�., and ell of such property
shall be subject to the specii�c tax levies hereinafter directed to be made.
SECTION 5. Ref�anding Bo-ids, Ser3es B, in the pr�.ncipal amount of
y�l.µ-3,890.00, are hereby authorized to be issued for the purpose of ,refundi.ng
the principal of t.he b4nds set forth in Section 2 hereof, Tate� sufficient
to produco the �um3 required for the payment of principal and interest Af
said Refunding Bonds, S:eries B, v�3,11 be leuied upon all propertg v�ri.thin
the presen� territorial limi,ts of the Citj* of Clearvr�ter, exclusivo of
that certazn pronerty annexed to sa3d Gity by Chapter 1A3j1�., �aws of
Florida, 1925, which was not exemptad fram 'ta�ca.tion by the Consti�ution of
Florida as it e::isted immediatel� nrior to November 6th, 1931�, and all +�f
such propertg shall be sulaject to the specific �a�c lev�es hereinafter
directed to be nada,
�
�
■
� .�'r
S�CTION 6, Refund3.ng Bonds, Series C, in tho principel amount of
�331, 010.00, a,re hereby authorized to be issued for the purpose of refuzldix�g
the principal of the bonds set forth in Section l here�i. Taxes sufficiont
to prvduce the sums required fox the paymant of principal and interast of
said Reflznding Bonds, Serias C, will be lev3ad upon all property within the
pr•esenti terri�torial limits of the City of Clear����er, exclu.�ive of that
certain propertg anne�:ed to said City by Cr�s.pter 7.0391 an.d Chapter �.039l�,
Laws of Florids, 1925, which wae not exempted from taxation by the
Constitution o� Florida a� it existed imme8iately prior to November 6t�., 1934,
and all o� such pr�per�3r shall bz subject to the specific �ax levies
hereinafter directed tr� be made.
SECTIOIvT 7. Al1 of said refunding bonds sha11 be da�ced Ju1�* 1st, 193h,
and shall ma�ure July lst, 1966, subjact t� redem�tion on any interest
payment �.ate prior to maturity upon payment of the par value there�f and
accrued intere§t to the date fixed fc� redemption. In the event the City
should desira cr be rsquired, as hereinafter set forth, to redeeYn said
bonds prior to �atur•itg, the part'cular bonds to be redeemed. shall Ue
determined by lot and shall be redeeraed only a.fter nutice of redemption
sett�ng forth the numbers of the partieular bonds to be redeomed and ths
date fixed for redeuiption shall have been published in a financial r_ewspaper
published in t�e City af Netiv York, r1. Y., once a wee�c for four conaecutive
aa.Zendar weeks, the date of the �irst publica�inn of such notice to be at
least s�_xty c�a9� prior to t�e datn fixed for redemption. Said refunding
borrls sha.11 bear interest at �he rate of two per centum per annum to
July lst, 191.�.1.; at the rate oi two and one-half per centum per annum to
su�.y lst, i91�.; at the rate of three per centum per annuxn to July lst, 19�.}.8;
at ths rate of four per centwn per annum to July lst, 1953; and at the rate
of five per centum. pe� ann�.am �hereafter and until ma.turit� of said bonds.
InteresL upon said xefunding bonds shal.l be pa�able semi-annuallg and sha11
be evidenced by interest coupons to be attachod thereto. Both prineipal
and intarest af said refunding bonds shall be payable in lawfu]. monoy of
the United States oi' America at Chas� 1Vational Bank, New York City, N. Y.,
anrl said refunding bonds shall contain provisions ior th.eir registration,
as to principal �lone or �s �� both principt�T and intersst. Ref`un.ding
bonds oi each serie� sh�:ll be issued in denomin.ations of �1000.00 each
and sixch other denominations as' may hereafter be determined to be
neces�arg to eifect such refunding.
�
SECTTO]� $, The C3.ty majr appl� an� moneys in the sinking fund hera-.
inafter provided for said refunding bonds to the purchase of re�unclin�
boncls at the lowast prices submitted, provided t�.at auch prices shall be
less than. the par value and accrued interest on the refunding bonda to be
so purehased, and providod further that such part of the ainking f'und as
may result from the coll±:ction of taxes levied in the territory annexecl
to the City by Chaptier Zo39i, Uaws 1925, shall be applied onl� i;o the
payinent, purchase or rederaption of Series A and Series B Refunding Bonds
and su�h part of the sinking fund ae ma9 restzl.t from the collection of
taxes levied in the terr3.tory annexed to ths City bg Chanter 1o39J�,,
Za,ws 1925, shall be applied onlg to the pagmsnt, purehase or redexr,ption oi'
Series A Refl�nding Bonds. The City covenan.ts that i� the event tY?ere is
in t]� sinking fund hereinafter provided ior the refvnding bonds �he stam of
�].D,QOO.00 or more, it tiaill apply the moneys in such sinking fund to the
purcr�se of 're�`unding bonds at the prices and sub3ect to the cor_dit3.ons
aforesaid. Any and a11 purchases of refunding bonds wi11 be made i>y calling
for and accepting tenders, Thirty (30) da�s pri�r to the receigt of tenclers
the City vrill cau:e to be published in a financial paper pitblished in ti2e
City of Netiv York, N'. Y., a rwtice requesting ten3ers of refuncxing bonds
and fixing the time and place at which such tenders tivill be received. All
-tenders will be required to be eontained in pla�n. sealed envelopes��ra rked
�'Tender of City oi Clear�vater Refunding Sonds, Series °, and will be
opened in publlc on the day and at the place =ixed in the notice callin�
for such tenderse Except in the cass of calls for -tenders which may be
required to be made by reasqn of the existenee of �c510,000 or more in tb.e
sinking t�znd for refundin g bonds, the City shall have the right to reject
any and all tenders in excess of a fixed price to be determined by it.
Subject to the exercise of tLis right$ a1.1 moneys on har�d in the sinkin�
fund on the date fixed for the receipt of such tenders �vill be applied.
immediatel� to the purchase of refundin.g bonds tendered at the lowest
prices submitted. If tenders,of a greater amount of refuncling bonas at
the same �rice are received than moneys are available in the sir_king fund
for the purchase thereof, the Citg will purchase tlae refunding bonds
tendered at such price in, tYie order in whieh the tendsrs were received;
providad� however, that th� Cit� slaaZl have first purchased all other
rei'undin.g bonds which may rave been �endered �t a 7.otiv�r prics, if any.
Sn the event there shall be insufficieu't moileys in the airiking fiznd to
purchase al.l of the rafunding bonds ofiered by any tender otherwiso
accetatable, the City n�ay accept any part of t1�.e refunding bonds so tendered.
�
�..
k_,..�._ .�..�Ww.,. ,�... �
�
-
� $�'
The C3ty at its option ma.y raquire all tenders of refiinding bonds to be
accompan3.ed by a certified check of not sxceeding one pex cent of the
amount of refuncl3ng bonas so tendered to evidenca �he good �'aith of the tsndei�o
In the ever�t moneys in the sinking fund. shal.l accumulate to the sxrwunt
of �10,000.00 or more and remain on hand for more than six mouths, not-
vrithstand�:ng tha fact that the City hes made a1.1 cal.ls for tenders ot
reftmcling bonds as required Y� rein, the Citg covenants that such moneys
will be applied to the redemption of refuuding bonds to be selected by 1ot
in an amount suificier_t to e�cl�.aust such moneys upan tdie first interest
pa�snent date thereafter occurr•ing, provided that if such interest payment
date should occur vrithin a pariod of time less than that for which notico
of redemption must be given, plus fifteen days, said moneys wi11 be held
as a spec3al s''und to be applied solely to ths redempt3on of refunding bonds
upon the next succeedzr_g interest pagment date. Any and all redemptions
that may be made as required b� this paragraph will bo made in accordance
w1.th the terms and provisions set forth ir_ the rei'unding bonds and in tYa.3,.9
resoluiion, whereby the Ci�y reserves the right to redeem said rei'undin.g
bonds prior to their matu��:': ;� o
A].l re�uizding bonds purchased or redeemed by the City �vi11 be
cance].led immediately upon the3r s�urrerider to ths City. The City will not
purchase any ref�,indin� bonds if and Slhile it may be in clofau7.t in the
payment of interest on, an� refuncling bonds unlesa tenders thereof shr�ll
rave been accepted prior to such default, and then it may purcra�e onl� the
bonds covered b� such tenders.
SECTION 9, The rei'uncli:ng bonds herein authorized to be issued srall
be signed by the City lt�.snager and Cit� Aad3.tor anc�. Clerk of the City of
Clearc���er and countersigned by the Nayor-C�mmissioner and the corperate
seal of �he City of Clearwater shall Ue affixad thereto. TY:v interest
coupons thereto a�tached shall be exscuted with the �'ac-simi.le signature of
said Cit� Auditor and Clerk, The text of sa�a vonas shall be in the
follov�ing iorm, with the additlonal reGitals hereina:fter prescribed for each
sories incox�porated therein where space is prov�aea th.8refor;
iTi1ITED STATES OF APcTERIC 4
STATE OF F�OR2DA
CIZ'Y OF CE�EAHti'UATER
RLFUNDING BOND
ISSTT� OF TJLY l, 1g36
SE1�iES
No, ;�
r
�
■
The City oi Clearwater, in Pinellas Caunty, Florida, is
justly ;indebted �.nd for value recAived hereby promises to pay to bearer,
or if this bond be registered, to the registered owner hereo�, cn the
first day of Ju].y, 1g66, the principal sum of
___DOLLARS (� ) togetY� r vvith interest thereon from the date
hereo£ at :lw rate oi' two pex centum per annum to Ju1y l, 19L4.1,; thereaftar
at the rate of two and one-half per centum per annum to July 1, 19�}lF;
thereafte'r at ths rate of three per centum per annum to July 1, 19�.{.8;
th�reaPter at the rate of i'our per centum per arinum to July ;., 1953, ana
at t}�e xate of five per centtiim per annum. thereafter and un.til the
ma�urity hereof, said interest being payable semi-�.�.r_ua].iy on the first
days of Jmnuary and Julg in each year. Both principal en.d interest
hereof are pay�:ble in lavrful. �noney of tho United utates of America at
Chase National Bank in the City or New Yoi•k� I3. Y., upon presentat3.on
and surrencier of this bond and the interest coupo�s ]a.ereto attached as
th4y severally ma�Gure.
Thi.s bond is issued under the autY�aritp of arsd in �ull compliance
with the Constitution a� statutes of the St�:te of Florida, inc'luding the
Charter cf the City of c,leas�r.Tater, an:d pursuant to a Resolution passed
by ths City Corrimission of s aid Cit� oi` Clearwater, for the purpose of
0
The C1ty of Clearwater he�eby reserves the right to redeem t�is
bond on any interest paymont date upon payment of par and accrued interest,
and a�rees that it wi?1 apply the sinking f'und created by the resolution
authorizing the issuance of this bond to the rs3emption of the bonds of
this issue at par and accrued intere�t by lot whenever such ainking fund
amounts to �10�0�0.00 or mrqre, arx�. is not used for the purchaso of bonds
of this issue at less than par and not reserved to so acquire such bonds
under then published notice, in the maxiner more particvlarly prescribed
by the resolution authorizing the.issuance of this bond. In the event this
bond is s� called for redemption, notice thereof shall be published in a
financia�, nevrspaper published in t�e City� of Notiv York, N:. Y., once a week
for frnzr consecutive ca].endar v�teeks, the date of first publiaation to be at
least sixty days prior to the date i'ixed for redemption. If this bon�.
■
�
�
aha11 not be presented for payment on the dai;e so fixad for redemption,
� it sha11 ceAse to bear intereat from and after sai.d date. The s3.nking fland
provided for said bonds may also bo used in the parchase thereof in
acr,ordance with the provisions of the resolution authorizin,g thoir issuance.
It is herehy csrtified and recited that all acts, Conditions and
thin„s required to happen, oxist and be performed, precednnt �o and in the
issuanc� af thia bond, have happanecl, exist and have been �erfarmed in due
time, form and �aziner as required by the Const9.tu�ioi2 and la�� of the
Svate of Florida; that the total indebtedness of said City, i.ncludyng this
bond, daes not excead., and that tha total ir_debteeiness of s aid City� at
the creation oi' tise indeb�tedness refunded hereby, including said indebtedness,
did no� then exceed, any constitutional or stattittory limibation '�hereon.
The Citg of Clearv�ater covenants with the ho7.der of this bond ��at
ior tY+.e payment of the prineipal and interest trereof it will l�vy �axe�
in an amount suf.iicient to provide therefor upon
excepting that prot3erty �^rk�.ch wss exempted �'rom nnznicipal ta.Yata�on by
the Constitutian of F'lorida as it was in force and effect �iimiediately
prios to Sdovember 6, i931�.. The Gity further ca�renants that all taxe�
levied for the payment o� the pr�ncipal and �nterest hereof� including
taxes upon honesteads, v�ril7. be collected in cash at the s a�e time and
in the same manner as operating and governmental ad valorem taxes levied
by said City, and �the rights and remedies �or �Y:e enforcement of the
ind�btedness re_�znded hereby shal� appertain to this bond and the taxes
securin.g the same independently of any restrietions or 1im3.t�tions thereon
enacte�. by the Zegislature of �the State of Florida since January lst, 1931e
Thta bond may be registered as to princi�al alone and as �o both
principal and interest, in accardance ti�ith the provis3ons endorsed �'hereono
IN !��TI3ESS 4T13ER.�OF, said City oi Clear�vater has caused this bond
to be 3igned by its Citg Manager and City Auditcr and Clerk under its
co:rporate sea1, and rountersigned by its �Jiay�or-Conuhissioner and tha
intereat coupons Lereto attached to be executed with the fac-sim3.le
signaiure of a aid Cit� AucLtor and Clor�, al1 as of thc iirsi; day of
�uiy, i936,
�
�
0
,
_ _ . ..., '�
�i1 '�.,
� . . . . .. 4 �}�
. . � .. � . . � . � . .� ^ ��
. . . . . . . . I .
� . . . . . ..... .. . ... . . . . . _ ._ . .. . .. ... .... . . .. - 'I
. . . . !I.:,c: :
� .
� . � . . ����� � ��
Rr' �
Gity Manager
C OUNTERSIGIJED :
City Auc'litor �nd Clerk
Magor-C omrr�. s si �nor,
(VA�iDATTOIJ CERTIFICATE)
Valida�ed and con.firmed by decree of the Circuit Court of the
Sixth Judicial Circuit �f tha State of Florida in an.d ior Pinellas Count3,
r�ndered l�
�- Clerk o sa3.d Cir.cui Cour .
(PROTTISIONS FOR REGTSfiRATION)
`�his bond ma.y be registered in the name of the holder on books t�
be kept bv the Ci�g Audi tor and Clerk as Re�ist-rar, as to principal onl�,
such registration being notec� hereon by such Re�istrar in the ragistra�ion
blank beTotiv, after w�.ich no transfer shall be valid unless mac�e o_n. s�:id
books by the registered haldes� or attorney duly authorized and sin;ilarl�
noted in the registra�cion blank belov�, bu� it ma.y 1ae discharged ir�ni
registratlQn Ynf being tiansferred �o bearer, aftor wh�ch i,t sha11 be
transferable by delivery, but it ana,y be a�ain registered as before. 2'he
,re�isi:ration of thxs bond as to principal shall not restrain t�e
neoatiability of th e coupons bg delivery merely, but the coupo�s ms� be
surrendered and the interest made pa�able anly to t�e registered holder,
in i�vhich event the I3�gistrar shal.l note in the registration blaxLk �ae�.ow
that the bond is xegistered as to interest as well as nr-incipal. With
the consen+ of the hol3ar and of the Gity o� Clearwater, tbis bond vrhen
converted ini;o a bond registered as to �oth principal end intsrast mag be
reconver�ad into a coupon bond and again conver�ed in�to a bond x�egistered
as to both principal and interest as hereinabove providado Upon recon-
varsion o�' this bond Mhen registerad as to principal and interest into a
coupon bond, nev� cov.pons repreaents.n,�, the interest to accrus up�n the
bond �to da�e of matux�ity shall be atiached hers-to by the Registrar, and the
Reg3strar shall note in the rog:tstr�.tion blank belocr �rh�fsher the bond is
s�egistered as to princi�al only or payable to bearer.
DATE QF IN WHOSE �IAME MA:I�II�TER OF SIGR?Al^URE OF
REGISTRATION: REGISTERED: REGISTRATIOI3: REGTSTRAR:
— �
{
�
I
f
�
.�
Q