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08/22/1938. �e .,. . _ �._..v _m . .,M��,N�., � � a ,,t �� , ; � . _ , � � , , �� ; MINTJTES OF TFIE CITY COTIIMTSSION August 22, 1938 ' A regular meei:inp; of' the City Commisaion of •trc Cit� of C1ear�rater, Florida, was held on the 22nd day of Au�usts 1938. The moetir� v�rr�,s called to order by the R4ayor-Commissioner and upon roll call the follovJin� answered pres9nt: L. A. I�narsh, b:ayor-Commissioner D. 0. Batchelor R. L. Baker � J'. A. Barrg I Herbert Gr�.ce , The follov�ing were absent: TTone An Ordinance No. 427 entitled °Alii ORDIPTANCE PROPOSIIvC TI-�E � Cp�lSTRITC',�IO�� OF A SANITARY S'EIYPRAGE S�T�.P�., AND TO �i'ID IN �'I�ANCIT�iC� � T3E COST OF SA11� COYdSTRt'iGTIOI�T, PROPOSIPTG T� ISSIIAt?CE QF 4i;272,000.�70 -.� � REVEA?UE CEFiTIFIGAT�'S OF THE CITY OF CI;EARY�ATER, FLORIDA, PAXABL�, � SOL�'LY Fl?UDi T_'qL RL+'STEATUES DEI�IVE� FRC�I�,4 S1AID SA2IITARY' SEPlERt�G1��' SY5`I.TE2.�, °� was introduced by P�Ir. Baker and read i n fu11. •After a discuasi�n thereof �rir. Baker moved said Ordinance be adoptzd as read. I�;r. Batchelor sec�nded ti�.e motion, Upon roll call � 1 tha followin�; vote vras' polled: Ages; S�ir. P:iarsh � I�ar. Baker i Ir?r. Barry , �4r. Ba�chelor Nr. Gri:ce Nays: None Thereupon, t�:e rtayor-Covnnissioner declared Ordinance No, 427 ' duly passed upoiz ita fii'�t reading. � iuir. Baker movad that Ordi��ance No. 427 be read its second i time by title only. I�ir, Batclzelor seconcled the motion. tTpon roll i ca11 tlze f'ollowii� vote was polled: ' ' Ayes : l,�r, 1;�ar sh . h7r, Batchelor IYIr. Baker IrIr. Barry ! It4r, hTarsh Nays: None Theieupon the h�iayor-Commissioner declared the motion passed and said Ordinan,ce'was rea.d a�econd time b5* its titlo. , Mr. Bake-r snoved saicl Ordina�zce be adopted as read. I�Ir. 13at- i cllelor seconded the m otion. ITpon roll eall tlie follov��ing vote tivas E 3 polled: • i i � 1 ; . . � s __._�. . ��_ _ _ _ . _ _.. _. ...__r_ ___--. ' __ ._ _ _ � � � � Ayes: PRr. NTarsxi Mr. Batchelor _ Itir. Ba�cc:'c nRr. Barr�r nir. Grice Nays: None Thereupon the T,1a,yor-Commissioner a��iarea said Ordinanca duly p�ssed upon ita secor_d readin�. 14r. Baker moved Ordii�ance No. 427 be read its third and final time. Mr, Batchelor seconded th9 motion. Upon roll call the Follovtii� vote was polled: ��e S: n7r, n��siz P�1r. Batchelor " ntr . I3al�er lYTr. Barr� 114r. Grice Nays: None Thereupon the Ma�or-Comm.issionor declared the motion passed and said Ord�nance was read it a third and final time. 114r. Baker moved said �rdir:�:uzce be f inally adopted as read. Mr. BatcLelor seconded the motion. IIpon roll call the following voto v�as polled: Ages: Mr, I,�arsh ItZr. Batche7_or nir, Baker PJIr. Barr� Mr. Crice Nayss None Thereupon the �'tayor-Coramissioner declnrPd the m otion passed and Ordinance �Ic. 427 duly adopted and signed �aid Ordinan.ce and approval tnereof; as =ollo�rs: ORDINANCE N0. �•27 AN ORDIIvANCE PROPOSING THE COi�TSTRUCTION OF A SAlVITARY SEtPTERAGE SYSTEIti1, AND, TO AID IN THE P' .TiiANCING �PLE COST OF SATD CONSfiRT,TCTIOIQ, PRO- POSING THE ISSUANCE OF �,�272,,000 REVEl�NE CERTIFICATES OF THE CZ'I'Y -0F CL�ARWATER, F'LORIDA, PAYABL� S6ZELY FROTvi THE REVEWES DERNED rR011� SAID SAttITARY SE4i]ERAG� SYSTIl',T . BE IT ORDAINED BY T� C7TY COIVII�tISSSON OF THE CITiT OF CLEARIVATER, FLORIDA: Section 1, Pursuant to Chapter 17118, Laws oi' �lorida, Acts of l•935, it is hereby declared expedient and necessary to construct, operate and maintain a Sanitary Sewerage System (ia.erein, called the °Project") ior the pur�iose of domestic, municipal and industrial u�es. Seetion 2. The territory vvithin and adjacent to the corpor-ate limits oi the City of Clearyvater, Florida, is hereby found and declared to be the territory to be served by tl�e Project. Section 3o The estimated cost oi construction af the Project is tiG449,J90. Section 4. It is hereb� fo�u..nd and declared that no system, worlt, 1'roject or utilit� of a character simil�r to the Project herein a.ut;la.orized ie being actually operated by any municipality or private compan� in ths C3ty of Cleart��a�er, or territory to be served by the Projec�. � Sootion 5. To aid in financing i;he cost of construction �f the Project, in excess oi' the grant to be made to the City of Clear- �vater, Florida by the Un.ited Statea of America, the City :�x Clearwa�er, Florida proposas to issue Sewer Revenue Certificates of �he City of Clearwater (herein called t�e "Cert3ficates") in t;he aggregate pr3_ncipal sum of yN272,000, The Certi�'icatee sr..a.11 be dated -0ctober l, 1938, sl�.all be in the deizominat�on of tip1,000 each, sha11 be numbered in order of their maturity from 1 to 272, boi;h inclusive, shall bear interest A�L the rate of four per cer_tum ( 4°�) per annum paya.t,le semi-annually o:� October 1 and Apr31 1 in each yoar zrom the d�te thereof until maturity; sYzall be payable as to both principal and interest at the o�fice of the Citg T�easurer in the Cit� of Clearvrater, or �.t the option of the holder, at the Chemical Bank & Trust Company, New York City, 2Iew Yorl�, in such coin or currenc� as is, on the resl�e�tive dal;es of pa�nent of principal thereof and interest thereon, legal tender for the payment of public and pr:ivate debts; shall be in coupon form, shall be registerabl� as to principal only at the o ption of tY� holder; and shall mature serially on, Oc-�ober 1 �11 '�82��''9 and amounts as f o1loHrs s Yeai� Amount Year Amount 1940 ��2, 000 1954 y�8, 000 1941 �2,000 1955 9,000 1942 a�000 1956 1Q,000 19h3 4,000 1957 11,000 1944 6,00� 1958 12,000 1946 6,000 1959 12,OOQ 6,d00 1960 13,000 194'7 6,000 1961 13,OOU 1,948 7,600 1962 14,000 1949 7,000 1963 14,000 1950 9,00� 1964 14,000 1951 '7, 000 1965 ].5, 000 1952 8,000 1966 15,�00 1953 8� 000 196'7 16, 000 1968 16,U00 The Certificates sha11 be executed on behalf of the Cit� of C1earNater by its City Auditor and C1erk and Citg I�anager and counter- signed by its N.agor-Com�nissioner., ancl shall be sealed with the corporate seal of said citg and the interest coup�ns thereto �ttacred shall bear the zacsimile signatures of said City Auditor aud Clerk, City 2ttanager and P,Zagor-Colnmissioner. . Section G� The Certif icates and coupons attached thereto shall be substantially in tiie follotiain� form, to-wit: �«• N1000.00 . UIVITE� STATES OF AMERiCA STATE OF F.LCIRIDA C OUP3TY OF P II�TELI.A S CIZY' Or CLEARI,'AT�R S��,TER R.GVEAN� CERTIFIGATE The City of Clear�vAter, in the Cozanty oi Pinellas, a inu.nicipal corporation ci' the State of Florida, i'or value received, hereb- promises to p�.y to bearer, or if th�s Certificate be registered, to the reg�stered a�rner thereof, solaly from �he sinking fund prouidod f:herefor, as hereinafter set fortlz, and not othersvise, the principal. sLun of ONE THOUSAND DOLLARS (�,�1,000) on October 1, 19 ,and to pay interest on said principal sum, yolely from the:sinkin� f'und provided therefor, as he�eznafter set farth, and not otherwise, from the date hereoi at the rate oz four per centu� (4�) per annum, payable semi-annually on October 1 � � and April 1 in each ,year upon the prosentation and surrei�,der pf t�.ze interost coupor�s attached kiereto as they several.ly become due, unt31 the maturity of this Cert�.fi,cate. Both tne principal a�,zd interest on tlzis Certifica�e are payable at the oi'fice of the Cyty Treasurer in the City of ClearFvater, State of Florida, or at t11e option of the holder, at �he Chemical �ank & Trust Company, Netiv Yorl� City, Netiv Yorl�, _i� such coin or currenc�' as is, on �lie respee�ive dates oz �aymeni; tl�ereof, le�a1 ter�der for t11e payntent of pul7lic and private debts. This Cer�ifioate is one oi' a dulf authorized issue of Gerti- ficates, limited �to an ag�re�ate principal of �272,000, of lilie tenor and eff�,ct exeept as to.nwrber and maturity, is is�ued pursuant to � d in full compli�nce with tk�e Constitution and Statiutes of Florida, par- ticularly the Cl�arter of bhe City of Clearwater an� Chap-ter 17118 Laws oi` Florida, Acts o#' 1935, ar_d by virtue of an Ordinance entitled �'Ar� • Ordinan�e Providing for tr:e Coilstrue�Gion of a Sanitaz�' Setvarage System, and� to aid ir_ finaneing the cost of such construction, f ir the Tssuance of w2'72,QQQ Revenue Certificates of �tlze Citg of Clearwater, Florida, payable so1e1� irom 'the revenues derived fram sAid Sasitary Setiverage Systeni" duly adopted b�y tre Citg Commissian of the said Ci-ty oi Clear� vrater or_ �he 22nd da� oi August, 79�8, and said Ordinance is hereb,y referred to, anc�, as �to a11 of its �erms and provisione, is made a part of this Ceruificete.: T�iis Ger�ificate and the issue of whicr it is one are issued to aid i� fia7ancin� the cost of construction of a Sai2i.tary Sovverage S3stem and aro pa5able only from a sin�ir_� fund in �vhich there sla.all be set aside annually, in appr•oxiniatel� equal monthly installmonts, out of the revenues and income ctarived frora the o�eration of said Sanitary Se«era�e System, after all operati� �.�ests have befln paicl, sucY? stanms as srall be suf2icient for the payment of interest on and princ�pal of saict certificates as the same rospectivel� sti�11 become due, 'and this C�� yifieate, to�ether `�ri-�h a11 oi;her Ceri;ii'icates of tY�e issue oi rrh�.ch this Certificate is on_e, and -L-he in�erest �'�'iereon, are secured by a pledge of ar_cl exclusive first lier_ upon all revenues set aside in said sirkin�' i�.ind, all as in said Ordina.tzce provided. This Certi�'� cate ar_d the interest thereon are not pa,qable from �ior are a charge upon �n� fvnds other �han tize re,ror_ue pled�ed to tY�o pay- �ien� thereoi and shall no-t i�posa �.� tax liability upon any real or personal propeity� in �b.e Giiy of C1ear�raater nar cong�ti�;ute a debt against said Cit�. This Certificate and the coupons attached are iasued upon the f ollolvin� terms anc� conditions, to all of ��h3ch each holder and otamer hereof cansenta and •a�reeat (a) Title to tris Certific3ts, u�lless this Certificai:e be registered as herean provided, and to the coupons ai�taehed heroto mag be transferred by clelivery in the same raaanner as a negotiablo instrument pazfable to bearer; and {b) Any person in possassion of this Certificate, unless th�:s Ce.r-�ificate be rpgistered as herein provided, oi of the coupona attached hereto, regardless of the roan..ner in v�hich he shaTl Y�avo acquired pos- session, is rereb� author:�zed to repre�en�L hiruself as the abso'lute ol=mer t}iereof, and is hereby �ranted posver to transfer title thereto b� delivery thereo.i to a bona fide purchaser, tLat is, to anyore who shall purchase the sarrie ior valae (present or an,tecedent) vrithout notice of prior dafen_sE3 or equities or elai�rs of oti�n.ierghip enforceable against Ya;is trangferor; everg prior holder or ovmer of this Certificate, unless this Certificate be regis- te.red as herein prov:i'ded, and of the coupons attached hereto, �Naives and renounces a11 oi' ris equitiss or ri�Y�.ts �rerei.rt in favor of e4�ry sueh bona fide purchaser, an,d every such bona fide purchaser sr�ll acquYre absolute title thoreto and to all ri�rts renresentod fihereby; and � r' _ , �a"� (c) The City of Clearwa'�er may treat tho bearer of t�..i.s Certii'icate, unless this Certificate be register•ed as herein grovided, or af' the coupon.s attached 'nero�o, as the absolute o�vs�ier thereof for all purposes witY�.out being affec�ed b� any notice to the contrary, This Certifl.cate shall pass bg delivery as hereinabove pro- voded, but it may be registered as to principal in the name of the holder on -L-he ,,z�oks of the �ity of Clearvrater, snch registr•ation bein; noted qiZ tl�.e back thoreof, after ti��hich n� transfer shall. be vaZid u.n.�ess inade on said books by the re�is�ered o�vner or his lesal reprasent-ative and similarly noted on the back thereof, 'but it may be digch.arged i`rom re6isi;ry b� bsing transferred to bearar an the books of the City of �7,aarv�ater• and thereafter shall be transferrable by delivery, but 3,`c may be agaan, =rom time time, registered or -tra..ns- ferrod to bearer as before. DTo �uch registration as to princi�al shaT1 ei'fect the ne�otiability of the coupons attaehed herota, �rhich shall continue to pass b;� delive�.yy b-ierel�. IT IS HEREBY CERTIFIFD, RECI'.'ED, AP?D DEGT�ARED tLat all acts, conditions and trings required bg the Constitution and Statui<eg of the State of Florida ar_d by the Ord�nances of the City of Clearv�ater i;o � exist, to Y!anpen., and, tc be perforrned, preeedent to and in the issuance o� �his Certificate, exist, have happened, and have been perforn�ed in dize time, form ar_d manner as required by l�vr. IN VVIT�TESS �;�REOF, the City of Clearsvater has caused this Certificato to be execuged in its name b� its Gity Auditor and Clerk and Ci.tg Nanager, and countersigned by iis Ivrayor-Gor� issioner, and its co rporate seal to be hereunto affixed, and tho interest coL?pons hereto �ttacla.od to be executed witr the facsiu�ile signatures of said Gzty Auditor and ClerJi, City iy�anager and P�ia�or-Commissior_er, and tr.is Cer- tii'icate to be dated the first day of Qctober, 1938. CI�Y OF CZEARV4Am�R, FLORI�A, By Cit� Auditor and lerk By (Seal) C5 ty T':anager Countersi ��w,��d�� IdAYO_R-COPI�ti7ISS IONER ( VALIDAT�OAT ENDORSEP�NP�- Validated and confirmed by ciecree of the Circuit Gonrt of ti�e Sixth Judicial Gircuit i�. and for Pinellas County, Florida, rendered on tlze day of 19�8. IIJ 4'dITRTESS tiYFER:COF I have heret�to set m,y han_d and afSixed the seal of said Circuit Court i<his day of 193Ei, C1erk of the Circi�i Court in and for Pinellas Coutzty, 'Florida. { FORI47 QF CC�IIPOId ) No. _ �2D,00 On 'tre F3:rst day of 19 the City o� CleartF�ater, Florida, will pay to bearer, solely from tla.e revenues pledged to th.e p ayment horeof and not otherv�ri ae, at �he ofi ice c f the City ��easurer in the City of Clearv�ater, Florada, or at the opt�_c,n of the holder, at the Ghemical Bank & Trust Company, Vet� York Cit�, Neiv Y'or�, upon sur- ren.dAr of this coupon ��20.00 in such coin or currency as is, on the day of payment hereof, 7.egal tender for the pay�nent of public �nd private dobts, bei� six mon�Lhs interesi: on it� Se�ver Revenue Certificata dated October l, 1938, and numberect 0 r'� � i.� �� `.. (REGISTI�ATTON QL'FTTFIC'A�'E) I}ATE OF REGISTRA�ION NAP,9E OF REGISTEI�ED 01VNER SICTNATURE OF REGISTI3AR Section 7. The City of Clear�rater shall keep pooss for the reg:Lstration and transfer of Gerti�'icates at tre office of the City Treasurer of the City of �lea�l+�ater. At the optior oz the holder,'eny Certificate may Ue registered as to principal in the Certi�icat9 Re�ister oi' the City of Clearwater, Florida, by the City Treasurer. as Cer�;if3cate Registrar, and such cer- tii'icate ma� �hereafter be tra�sferrod on said C'ertificate Registor only upon an assignment ir_ writing of the registered otvn.er or oi l�is legal represe�.tative, duly acl�.ovrledged, such transter to be endorsed a� such Certificate by the Certificate Registrar, Such Cer�ii'icate may be trans- fersefi to bearer on ths Certificate Register and thereafter trazxsferability by delivory sha11 be restored, bu� such Certificate shall.agaix� be �ubject to success�ve registration and transfers as before. No such registratioil as to principal sha11 affect tlae negotiability of' the coupons attached to such certiPicate, ��h.ich s�all e ontinue to pa�s by delitiery merel�, No charge s1ia11 bo made to any holder or ov�.zer oi a1�.y Certifica-�es for the privilege o� regiatration herein gr�nted. 5ection 8. It is hereir_ proposed to �rant to the Cii;y Auditor and Cleik City P.Fanager axr�. Liayor-Corrnnissior_er, authority to ea.ecute at ona time the Certificates in tn.e na.�e o�' the City oi Cleartiv�ter, and to grant to the City- Auditor and Clerk autnority to affix the aea.l. of the City of C;�ear- 3vater to the Certifica�es. It is f��rther proposed t;hat the City l�udn.�;or and Clerk, City 114anager and 2r:ayor-Cemmzsaionor shall be authorized and directed to cause the aoupons atta�r_ea to s�.a certific�:�cs to be e�ecutod by the�ir facsimile signatuses. It is praposed t�a.at the Cer�ificates sha11 be av�arded to the IInited States of America actin� through.the Federal E4n3rgency Adrninistrator o� Fgblic Works at pgr`and ac�,rued interes�, ar_d th_at the City Auditor and C1erk shall be authorized and diz°ected to de- livor�•the Certificatea i,o the purchaser theroof, at one time oi from time to time as he may deem advisable, upon receipt of paylneixL- therefor. Sectioxi 9, It ie proposod that the Certificates and tlie intere�t thereon sha11 be paya.ble from a sinkin� flznd provided therefor, as hereinafter set fort;n, and not other�iise, and shall be aecured by a pledge of and exclusiv� first lien upon all rovenues sot aside in said sinking fund. Nothing in this orclinance or in the ordin,ance authorizir_g the construction of' the Project and the is�uance oi the Gertificates shall be deemed to create any encumbrar_ces, mort�age, or othor p ledge of or charge upon any property or funds of the City of Clearwater, Florida, other than the revenues pledged to the payrnent oi the Certific�tes as he rein provided, nor to impose any tax. liability upon any real or personal property in said City, nar to constiLute a debt against such �ity. Section 1�� It is hereir_ propossd to authorize and d3rect the City Auditor ar�d Clerk, upon reaeipt of payment for the Certif'icai;es, or any part thereof, to set a�ide and deposit in the sinkin�'fl.ind ( hereir_after �,rovided) the amount of suclz payment rop�esontir_� the interast accrued on any Certificates to tlze date of pa�ment oS" 1�he .purcFia'se price tY�erefor ancl tl�e amount, if any, of such paymeizt wl�ich sha11 be estimated to accx�ue during the pericd of construction of the Project and for six months tYierea�ter on the moneys proposed 3:�. this Ordinance to be borrowed. It is furtrer proposed that the remainin� proceecls receivod by the City from the sale and delivory oi' the Cer- ti�icatea, sY�a11 be set aside and dep�si�;ed by said City Au�i-tor �iZd Clerk in a separai;e accour;t, to be kno�m as the"Sewer Construction Account° i�: a bank or bar�s which are members oi the Federal Regerve Systexa, i;Le mone� in said account to be used �olely for tlie pur,pose of payin� the costs of canstruction of the Projeet, in the manner and subject to the teTrnis a�d conditions ��oViaea in any coni;ract or agree- ment with'the purcha�er or purchasers o� any Certificates; any us�ex�ended � � 0 '�� ;;� ; 'u balance remainin�; after �he payment oi the costs of such con��rv.ct3on sha.l�. be us ed for• the re-purcnase o:f the Certificatas at a price not to exceec� pAr and accrued interest, or shall be set aside and depogited in tY�e Sev�er Revenue Sinking Fund. Sectior_ 11. Tt is proposed that t}ze methods oi' receipt and disburs�- ment ot' the gross revenues and income derived from the operation of the Pro ject sha11 be as f olloVrs: The project shall be operated on a fiscal year basi�, com- menc3.ng the first day of October in each year and ending on t�e 3Qt's�: day of September next follovrin�. Froxn and after the date ef the completion of the Project, �k�e Ci�y of Clear�n*ater sY?all na� all revenues and income derived and obtained frorn the operation of the Project into a special iund to ba knoPm as the "Set�er Revenue Fund,"' In the event th�a.t City of Clearvyater or an.y denartment, agency, or instrumer�tality thereof shall avail itaelf of the facilities or services so rendered by �E�.e' Project, the reasonable value of t1�.e facilities or services so rendered shall be charged agair_st tk�.e Czty, or such department, agency, or instrumentality and shall be paid for as such charges accrue; but nothing in th-i.s Ordinance shall be con- atrued as requiring tiie City or any department, asency or inatrvinent- alit;q thereoi' to avail i�self of �he facilities or servzces rendered b,y the Project. The revenue� received from the city or an,�g department, a�ency or inatrumentality thereof shall be deerned to be revenues de- rived from the operation of the Pro�ect and shall be deposited in the Sesver Revenue Fw�d. Tha City hereby covenants trat said Sevrer ;tenue Fund will be adninistered, held and applied b� it un�il all tiae Certificates ar�d the interest thereon ancl the in�erest on any unpaid insta.11ments of interest shall have been fully paid and dis- char�ed only for the purposes and in the follo�vir_g manr_er: (a) Into a separate account to be k-.noz^m as the '�Setiaer Operation and A�aintenance Account° thero shall be pa,id each fi�cal pear i� �}�proxima•tely equal monthly installnients sn aLnount sufficiert for the purpose of paya.r_g all reasonable e�penses of operation and mainten,ance o� the Project for esch year, but the amount naid into said pccount durxng any month shall not be less than an amount suf- ficie�t to pay the reasonable expenses of operati�n and maintenance of the Project for such month. The mone�s ir_ said aceount shsll be used solely for the purpose of paying the reasonable ex�enses of operatin� and maintainin.� the Project. If in any month, for �n� reason, the City shrzll fail to pay th.e abova rec�uired amount into saicl Account, then an tuuc?un� equal to ang de-F'icien�f in the amount paid into said account in such month shall be added to the amount otherl�ise required to be paid in�Lo tie �caour_t in the ne�.t succeeding month. (b) Into a separate account io be knovJn, as the J'Sev�er Sinking ��drr there shall be paid durin,�; each yeax in approximately enually monthly installments after rnakirg the above requ�.red pa�nents into t1_�.e Sewer Operatie� and P,aa�ni;enance account� such aniount as is required to pay {1) a sum equal to one hundred por centum (1000) of tLe principal of all o�' the Certificates m�turin�; dur�n� the next succeedin�; fiscal. yeai�a (2) a sum equal �o one hun,dred per centum (100;;} of the interest becom_�:n�;• c�ue �n all outstandin� Gertizicates prior to ar?d on the matur- ity date of the pr�ncipal thereoi' in such r_ext succeed�n� fiscal year, and in additior,, in orcler to provide and coni;inuously ma3ntain r� re- aerve in tiae Setrrer Sinkin� Funcl (3) a stiun at least equal to tF�enty Asr centuln ( 20�) of the aggregate of the amounts defined by (1) and( 2� ; payment ai th2 additional amourxt definod b�r (3) shall be made, continued and recontinued until there is, and in order that out of all funds avail- able for� the purpose there may al�rrays be main�ained, ii1 saia Se�ver Sinkang Fti.u�d, zin, amoun� equal to the ag�rogate of the a.mounts defined in ( l) and (2) plus a11 the principal ar�c� interest �ayments maturing an.d becoming due durir�g the n,ext t�+ra fiscal gears after �?�e 1'iscal year referred to in (1) amd (2) above; no payment need be made into the Sev�er Si�ing Func� when ar_d so lon�; as the alnou.nt in said Fund is at leastequal to the, aggregate �rincipal amow.zt of Certifica�es then o�.tstanding, plus the amount of interest due and theiaaf�er to become due on said Cert�- ficatos; but if �n any month i'oi any reason, t�.e City s�ia11 fail to pay into said F`und t:he amot�nts her3in required, then an amount equal to any deficiency in� tho asaou.nt paid into said I`u.nd in such montlz shall bo added to the amouni; otrxercviae requi.red to be paid into said �znd in the noxt succeedii� mon,tYi; any moneya at aziy tir,ie paia into the 5e�ver Sii�t- in� Fu.nc1 sh.all bo held by th.e Gity iri trust i'or tlze benef�,t of the holders irom time to �bim_e of the Certii3cates and coi�pons �i;tached thereto enti�led to Ue paid i'rom such monog, and th.e Ciby sha7.l not have nsy benef3eial ri�ht or intdxast in any such mon;egs. A1.1 moneys in said �znd shall be . ._ .... .. . _ _. _.. .. _ . ._.,._..._..J e ■ 4f,'o deposi�ed in a banl� or baiil�s wlzich are memUera of �ho Pedoral Reserve S�stem aixd all suxrs in excess of sul auioiul�L sufficien,t to discharge all principal and interest paymen,ts to becoino due tvithin thc neYt twelve mont�is period shall be continuously secured b,y d3rect obli- gations of the IInited States of America or other securi'tios approved by tlze Federal Reserve Board for the securing o� trt,tst deposits by national ban�s� which obligatio�s or oi;her sE'curities shall be at a11 timea at least equal in marliet value to the amo�.lnt of mone,qs in the said funcl to be secured; the moneys in said Server Sinl�ing ' Fu_.nd shall be used solely i'or �he purpose of payin� the priilcipal of and interest on tize C,ertificates and for no other purpose, Se�tion 12, Any �'iands remaining in the Server Revonua F�.uid, af�ter provision.s for the reasoi�:ablo cost of operatin� �n�? maintainiizg the Project, a�zd aitPr paying tha amou.nt required to be pAid into the Setiv�r Sinking �und, as Above provided, may be used by�tHs City o�' Clsartiva-ter for the purchase of Certificates at not exceeding the principal amount thereof (exclLlsive of accrued interest) or for ai1� other purpose pormitted by law. It is proposed tl�at the City of Clearrvater shall covenant and agree with the several holders and ov�ners of Certificates as fo11o�9: (�) That it shall not volun.tarily create or cause to bo created any debt, lien, charge or encumbratice unon any of the reye- nues pledged to the payment of the Cer�Gificates and the interest thereof axcept such as may be junior to the lien of said Certificates, and tlzat it rvill not sell, murtgage, lease or otherwise d3.spose of or encumber any praperty essential to the proper operation of the Project; (b) That it will at all times preservo and protect i;he security of the Certificates and the rights of the Gertificate holders under this Ordinance and that it ti��i11 at all times ma3ntain, preserve and keep, or cause to be maintained, preserved and kept, the Project; 3ncluding al1 part� tlzereof and anpurtenances thoreto in good repair, working order and condition, and ��ill from time to time make or cau�e to be made all necessary and pr�per repairs and replar.ements so that a�_a1l tiines the business carried on in cnnneci-'�n �h�revr3th may be properly and advan- tageously conducted ir_ a mannE:� �onsistent rvith prudent management; (c) Thai it will at a11 times prescribe and collc�ct rates in connection tivit�. t�:e Project as it ma� deem reasonable, which said rates sha11 b� at 3:ea"st sufficient afi:er makin� reaaonable allowances for conting�ncies and for a margin of error �:n the e�timatos, to maintain the Sevrer Operation and rlfaintenance'Account and the Sewer Sinki� Funcl as proposed by this Ordinance; (d) That it will at all times keep prope•r books of records ai�d. accounta (separata from all other records and aecoun.ts) in which complete ar_d correct entries shall be made of all transactions relating to the Project. The City of Clearwater will furnish to the original purehaser or purchaser of said Certificates ancl to an:y holder or holders of any of said Certificates, at the written request of such holdor or holders, not more than thirt� dags after the close of eaciz aix mont?�.s fiscal period, complete operating and iricome sta��emei�ts of the Pro��ect in reasonable detail covering such six nionths peri od, and, not more tY�an sixty dags ai�Ger the close of each fiscal year, complete f inancial statemenia of' t}a.e Projec� in xeason.able detaiT covering auch �fiscal .;�ear, certified by the Auditors of -the Ci-Ly of Clearwater, Florida; (s) T�at it will maintain insurance on the Project for 'the benefit of the holders of Certificates issued under this Ordinance so long as any of such Certzficates or the interest theraon shall remain outstanding or be unpaid, oP a kir�d and in an amount which usuall�* wou3d be carried by a private corporation operating a similar type o�' undertaking. The proceeds of any insurr�nce_, other than �o� Loss of Use and Occupaney, ghall be used only for (a) reconstruction, re- placements or repairs, or (k,) paymen�;s into the Sswer Sinking Fund. During any period of Loss of Use and Occupanc�, total or partial, resultir� from riaks a�d perils against wh3ch other insurance is or ahoLlld be carried pursuant to this section, the proceed� of any such use and occupancy insurance shall be ;�aid to tlie Setiver Itevenue Fwzd ancl sha11 be adminis•8ered, heltl and applied for tho same purpose and in the same manner as providec� by th3s Orcl�nanee for the use, dispo- si�ion a�zd ap�lication of the �one�s in such �'und; r"� � y'� (f) That it will permit at a11 reasonable times so long as any of the Certificatea are outstanding, anzl holdor or holders of twenty per centum {20�) in principal amount of such Certificates thon outstand3n� to in�pset the books and a11 accounts and recorda thereof. It is proposed that none of the fore�oing covenants shall be construed to require the expenditure by the City of any fur��a other tharx the revenues recoived or receivable from i;ne Pro'�ect. Section 13. Tt is �ro�osed that, ir� the ever�t of a default 3.n the p ayment of the prineipal of or interest on any Certificates, vrhich def�ult shal.l continue for a period of six�h (60) days, the holder or holders of twenty per cen�urn (200) in principal amount uf Cer- tificates then outstanding shall be entitled as a strict matter of right to tlse Appointment of a receiver, tivl�ich receiver maur enter upon and take possession of the Projeet, operate and m�intain the ssune, �rescribe rates, and colleat, receive and apply all rev�nues thereafter arising therei'rom in the same r�ay aa the Ci�ty itself rn�ght do, It is f'u:rtrer proposed that unless the Court shall othert�-i.se direct, whenever all that is due upon sucr Certifica�es and install- m2nt s of interes:t and to any of „ te s''unds or accounts proposed in thi.s Ordin.anco to be established :�hal1 have been p�.ic? and all defaults made goody said Receiver shall surr•end.er possession tri the Cit�, and that the same rig�t to a receiver shall exist upon any subsequent default. It is further proposed that this seetion shall no� be cor_- strued to limit �he r3ght of an� holder of a Gertiiicate f,o anp�y- for the appointment of a receiver in the discretion of the Court, nor to limit tre rights or -remedies of an,y Lolder �f Certificates or interest coup�ns uader the La�rs oi Florida. Sectior_ 14. It is proposed that tihe rights and duties of the City� of Clearrvater and ot Lhe holdera of the Gertificates a_nd coupone ar_d the terms and provisions of this ordinance may� Ue modified or altered ixi an� respect by Oidinance o�' the Giiy� Commission of the �ity of Clear- �vater �vith the consent of the holder or holders of seventy-=ive ('75n) � par centum. in principal �unount of all tl�e Certificates then outstandir�, such consent to be evidenced 'aj an instrument or instrument� exeeuted by sucll hoider or holders �a auly a�z;noy�le�ged or proved in the �anner of a cleed to be recarded and sucn 7nstrumen� ar instruments skiall be �iled in the office of the Clerk of �r.e Circui� Court and shall be a public record. Seotion l5. If au;7 seetion, paragraph, clause or provision of this Ordinance shall be held invalid, the invalidity of such section, paragraph, clause or nrovision shal7. no� afzect any of the remaining provisions of this Ordinanee, Section 16, All ordinances or �arts of ordin ancos or rasolution� i nconsiste>it �vith this ordinance are rereby repealed, rescinded and revol�ed to the extent only of such incotzsister_c�. � Sectior_ 17. Thia orclinance i.� an, emergency matter and sha1l go in�o effect �ediately upon ita passage. P�r. B�ker �ntrodu�od Ordinance I�?o. �.26 f'or its fii�al passage a.�d moved itr� �doption.. Seconde� bv 2tir. Batchelcr, and upon roll call the follovrin� vo�te v��as polled: Aye s : 1'�ir . l�iar sh � � ' � � Ia:r , Bateholor Prr. Bal�er i1Tr . }3arry lt7r . GriCe �- Nays: ATone ,,�- VVhereupon t�ie 1,iayor-Coimnis�ionor declared Ordinance No. 426 passed And Adopted arxl si�ned the same, as follor�sc e ■ ORDI�TAiCCE N0, 426. ��t Qt�DII�TANCE REGULlI`PIP:G SOLICITORS AI�ID CAP�VASSi,�S I%1 TH� GITY OF CLEARt"�rhT�R, FLORIUl�, AND PB�VTDTNG A PEI?ALTY FQR T� VIOLA�'ION OF THE TEI'i14'iS QF T�ITS ORD:CI�AT� C� , BE IT QRDAI�]ED BY l�E CITY COI;�`ISSIOPT OZ' TIiE CITY OI CLEAR69.AT�R, F`LORIDA: Section l. SOI�?CITORS AI�D C:F�IVASS�RS: It shall be urla�^tfLil for an� per�or_, firni or corporatior_ to go 3ra ar upon any pr�.vat;e residonce, apartment or premisea in tY�e G�ii:y of Glear�vater for tize purpose of soliciting from the occupants t�aei:eoi', or to car.vass for orders �'or' goods, cJares, mercYaandise or services of an�r chat�ac�ter or description, or for tre pl,lrpose of oifeiing to give or to ilzrnish o�� givin� or furni_shir� any goods, wares, merchandis� or services to any such occupants to induce or invite such orders, witlzota.t firs� Yia.vin� applied for ai�d received froni �he Crief oi �olice a solicitar�s �ermi�4 so to do. l�r_� person desirin� to secure such a sclicitor►s permit sh�ll apply— therefor in yvriti.ng over his on c�r signa�ure to the T Chief of Police on forms pravide� by the Cit�, and sucli appli- cation shall state (1) the name and address oz the applicani;, (2) tM.e name and ac�dress of the person, firm or corparation by whom emplo�ed, (3) the lengi�h of services �� s�,lch applicatn with suci2 amployer, (4) tile place of residonce and nature of empi.ay- n?ent of the applicant during the last precedin�; year, ( 5) the r_ature or character o�' the good,s, ��aros, merchandi�e or servzces to be offered by the applicar_t, ( 6) the perso��.al description of the applicant� S�ach applicant sha11 be uccompaniecl by the photograph of tlze applicant an.d such creden�ials ancl othei evi- dence of the good moral charac�cer and identity of th� applicant, as may be reasonably required by the Chief of Police. If tro Crief of Police sha11 determine after reasonable investigation that the applicant }s of �ood moral character and proposes to engaQe in a la�vful and le�itima�Le commexcial or professional enterprise, he shall then issU.s the permit apnlied fos, vrhich permit shall e:�pire on the 30th dag of September of the year in wliich such permit �hal1 r ave been issuod. Such permits shall be carried at all times b� t:h.e applican� to �vhom issued, v�hen soliciting or car?vasein� in the City, rand shall be exhibited b� any such applican � whenever r.e or shfl shall be requested so to do by any police ofiicer or an� person solicited. Any such pel:mit ma� be reuoked by �;lze Chiei' oi Police �`or viola�ion by the holder thereof of any of the ordinanoes oi "the ' City of Cleart�ater, or? of any State or Federal Lativ, or vrherevor �the holder oi such permit sha7.l in tY�e judgment of the Chief of Police ce�.se to possess the charaater and qualifications required by thi3 Section �or the •isau�+nce of �uch perrnit, , Seetien 2, Any person, firm or corporation ��ho �hall violate any o� the provisions oi this Qrdir_ar_ce srall upon convictior� in the 142ia.nicipal Court of the Cii;y• of Clearv�iater be fined not less than ��5.00 or more than ;1100.00, for each offense. Every day upon v�hich violation ghall occur, or upon ��hic� such violata.on shall con�tinue, shall cor_stitute a separate oifense. ,. Section 3. A11 Ordir_ances or parts of Ordinances in conf'lict eroh�v�i h"be and the saxne are herobf repealod. Section 4, This Orclinanee shall take effect irmnediately upon its passage. PASSED AND kDOPTED b� the City Conm�ias3.or o� the Cii;y of Cleai�arater•, Florida, thia 22nd day o= August, A, D, 1938. .L . A . T;iARBH, ' Mayor-Commis�ioner. Attest: J. E. SATTERFIEZD, City Auditor and C7.erk, � r � � t. "1 �+r � J U � t. �� . -,� �:�,�rr r� � '�� 1 � � " ,�, �r,.�� ;, , �� 3 b � \�'� �._ __� I-� wae movod b� P1Ir. Batekelor, seconded by Ts�r, Barry and carried that tre Ci�y Attorr_ey be paid .r500 on aceount of legal feea in conrzection �^�ith PVIA projects. It ti+ias moved by Bir. Barrg, seconded by Mr. Baker and carried � that the Gity 1'danager be instructed to advertise for bids on se�rer � 1�"" v2ork under the PNIA Pro j ect . �� It �vas moved bg Mr. Batchelor, seconded bg T+�r. Grice and c�rried that the resignation of I��r. Frazak �. Booth fromthe Recreation Board be accepted and trat'.�re matter of a successor be deferred until the n�xt meetir_g. It was moved by Mr. Batchelox, seconded by N;r. Bar-r� .and carried that Zot Three ( 3) of 8. J. Re�z�.olds Subdivision be sold for yu300, terms ��150 cash and the balance at y 10. per mont:h.. It vras moved by Pfir, Batchelor, seconded 'U� Ia'tr. Barr� a�d carried that i;�.e Cit� sell Lots Thirtg- �vto ( 32) and Zrsrty-trsee ( 33) Block ��C�� of Bassadena for �y,��,200 cash. It yras moved bg N,r. �atchelor, seconded by hir. BArry and carried that the Citg sell Lots Seventeen (17) ar±d Eightean (18) Block Thir- teen (13) of TIagnolia Park for �;21d on time. It was moved by P�ir. Batchelbr, seconded by bir. Barr;� and carried tYaa.t Pv:r, t�V, B. Vfzrace be allo�ved to settle taxes and assessments against hYs prc�perty in Bay Texrace for �75,00 cash. It was nloved b� Air. Barry, seconded by Irir. BatcLelor and carrie�. that the City pa� �p7Q.�0 membership fee to the Florida League o= NZunicipalities. Mr, Crice introduced an ordinance entitled °ADT OP,DINAI�iCE REG�iLATiNG T� I��EPIl?G OF CHICF��TS, TUt�s�'-'Y'S, I�UCIiS, GEESE AND GUTATEA FOtiVLS II�T TF1E CORPORP_TE L11�iITS OF TtiG CI�Y OF CLEAR4'JATER AATD PRQVIDIPIG A PEPIAT�TY FOR TF�E VIOI,ATIOTT C�F THE TERI�'iS OP TIiIS ORD�LITA'�`CE," and moved its adoption on its first reading. TJir. Baker seconc�ed the motion, and upon ro11 asll the follo«in� vote was polled: Aye s; Mr, IIMar sh 1t�Ir. Batchelo� IJir. Baker Pu7r. Barrg 14�r. Gr3.ce �&�r8: TT0178 '�]�.ereupon the Mayor-Cormnissior�er declared the ordinance du.ly passed upon its :first reading, P�Zr. �ric� movecl �he ordinance be road its second tirne by title on1.y . 14Tr. Baker seconded the motion, and upon roll ca11 tlze i'ollovrin� vote rras pulled: � .,_ ;i � J