86-58
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RBSOLUTION
No. BG-SB
A RBSOLUTION OF THB CITY OF CLEARWATER, FLORIDA,
AUTHORIZING AND APPROVING AN EXTBNSION OF THB
MATURITY OF THE $4,200,000 WATER AND SEWER REVENUE
BOND ANTICIPATION NOTE, SERIES 1985, OF THB CITY OF
CLEARWATER, FLORIDA; PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, the City of Clearwater, Florida (the "Olty"), has by Resolution No.
85-88, authorized the issuance and sale of a $4,200,000 Water and Sewer Revenue Bond
Anticipation Note, Series 1985 (the "Note") of the City, to Sun Bank/Suncoast, N.A.,
St. Petersburg, FlorIda; and
WHEREAS, the City contemplated retirement of the Note on its maturity date,
Septembor 24, 1986, from the proceeds of authorized but unissued Water and Sewer
Revenue Bonds, Series 1984, to be sold in the traditional pUblic bond market; and
WHEREAS, the City has received prelimInary approval to obtain such funds from
8. municipal loan pool created by the City of Gulf Breeze, Florida, upon terms more
favorable than those currently available in the traditional publiC bond market, which
funds wlll not be available untU October 1, 1986; and
WHEREAS, the, City's stalf has requested a two-week extension of the maturity
of the Note to accommodate the municipal loan pool financing;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION
OF THE CITY OF CLBAR;WATBR,' FLORIDA:
Sectlon 1. Upon receipt of approval by the holder of the Note, the maturity of
the Note shall be extended from September 24, 1986, to such date, not exceeding two
weeks after September 24,1986, as shall be approved by the holder of the Note.
Section 2. This resolution take effect effectIve immediately upon adoption.
PASSED AND ADOPTED this 4th
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Res. 86-58 .
9/4/86
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