Loading...
73-70 t. C RESOLUTION tip; No, 73 X70 f.,..41 1r E RESOLUTION PRESCRIBIN4 FORM AND AUTHORIZING EXECUTION OF CONSTRUCTION TRUST FUND AGREEMENT. lip WHEREAS, by Ordinance No. 1399 duly adopted on July 24, 1972, this City Commission authorized the issuance of $9, 000, 000 Utility Revenue Certificates, Series of 1972; and WHEREAS, said Ordinance provides that the proceeds derived from the sale of said Certificates, less 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 Certificate proceeds to the purposes provided in the aforesaid Ordinance; and WHEREAS, said Certificates have been awaxded and sold; and WHEREAS, the Barnett Bank of Clearwater, Clearwater, Florida, has agreed to act as Trustee of such Construction Trust Fund; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF CLEARWATER, FLORIDA, IN SESSION DULY AND REGULARLY ASSEMBLED, AS FOLLOWS: 1. That immediately upon the delivery of said $9, 000, 400 Utility Revenue Certificates, Series of 1972, the City Manager, Mayor-Commissioner, City Cleric and. City Attorney 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 form of which agreement has been approved by the City Attorney. 2. That this Resolution shall take effect immediately upon passage. PASSED AND ADOPTED this 21 Attest: U . L2?,& ? Deputy City Clerk Rees.#73-70 sy:?ly'to„?,?,?„t7'n`??'r;7"i YX^?'?E "sc•?pZ w •.Y rw??rF . . ?.... _. ..?...- ..iii::; 5-21-73 I