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RESOLUTION
No. b3 -z7
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RE50LUTION PRESCRIBING FORM AND AUTHORIZ-
ING EXECUTION OF CONSTRUCTION TRUST FUND
AGREEMENT
WHEREAS, by Ordinance No. 954, duly adopted on November 2b,
1962, this City Commission authorized the issuance of $l, IOR, U00
Incinerator Revenue Bonds, Series of 1963; and
WHEREAS, said Ordinance provides that the proceeds derived
from the sale of said Bonds, leas certain deposits required to be
made into certain accounts, shall be deposited in trust with a bank or
trust company in the State of Florida, in a Construction Trust Fund
under a "Construction Trust Fund Agreement" in order to ensure the
application of such bond proceeds to the purposes provided in the afore-
said Ordinance; and
WHEREAS, said bonds have been awarded and sold; and
WHEREAS, the Fixst National Bank of Clearwater, Clearwater,
Florida, has agreed to act as Trustee of such Construction Trust Fund;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY
COIviMISSION OF THE CITY OF CLEARWATER, FLORIDA,
IN SESSION DULY AND REGULARLY ASSEMBLED, AS
FOLLOWS:
1. That immediately upon the delivery of said $1, 100, 000
Incineratox Revenue Sands, Series of 1963, the City Manager, Mayor-
Commissioner arsd City Clerk be and they hereby are authorized to
execute, on behalf of the City, the Construction Trust Fund Agreement
in the form and language annexed hereto and made a part hereof, the ,
farm of which agreement has been approved by the City Attorney.
2. That this Resolution shall take effect immediately upon passage.
PASSED AND ADOPTED this 1st day of April,
sione
Attest:
Clerk
' Fteso.' X63-27 .
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1.
D. 1963.
4-3.-63
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