77-64. i, ,+
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5` AD
n
F RESOLUTION
No, 77 - 614.
A RESOLUTION AUTHORIZING PAYMENT IN THE AMOUNT
OF $476.09Z. 83 TO BE MADE TO THE UTILITY REVENUE
CERTIFICATE SINKING FUND FROM THE CONSTRUCTION
TRUST FUND.
WHEREAS, the City of Clearwater, Florida, has heretofore sold and
delivered $8, 000, 000 Utility Revenue Certificates pursuant to Ordinance No.
1586, enacted on October 2, 1975; and
WHEREAS, the Application of Certificate Proceeds states that
(a) All accrued interest received upon the delivery of the Certificates shall
be deposited in the Sinking Fund established pursuant to the Original Ordinance
and (b) that the sum of Four Hundred Twenty-Six Thousand Six Hundred
Sixty-Seven Dollars ($426,667) shall be deposited in the Reserve Account
created in said Original Ordinance to be used as provided in said Original
Ordinance; and
WHEREAS, there is now due and payable to the Utility Revenue
Certificate Sinking Fund of the City of Clearwater from the proceeds of the
sale of Utility Revenue Certificates, Scriea of 1975, the following sums:
Accrued Interest $-49,4Z5.83
Reserve 4Z6, 667. 00
for a total of $476, 092.83;
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 the surn of $476,092.83 be paid from the Construction Trust
Fund by the Barnett Bank of Clearwater, Florida, Trustee thereof of
Construction Trust Fund Agreement dated November 9, 1976, which Construction
Trust Fund is derived from proceeds of the sale of Utility Revenue Certificates,
Series of 1975.
2. That a certified copy of this Resolution be. delivered forthwith
to said Trustee, which said certified copy shall constitute the direction of
-1?
IN I
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r
Reno. #77-64 717177
s^
the City of Clearwater to said Trustee to pay the foregoing sum directly to
the said City of Clearwater Utility Revenue Certificate Sinking Fund forthwith
in compliance with Section'3 (C) and other provisions of said Construction
Trust Fund Agreement.
PASSED AND ADOPTED this 7th day of July, A. D, 1977.
Mayor- Comrnissione
Atte t;
C' Clerk
f
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