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RESOLUTION
No. 78 - 51
A RESOLUTION AMENDING RESOLUTION NO. 78-36,
TO PROVIDE THAT 2004 TERM BONDS ARE TO BE
REDEEMED BEGINNING DECEMBER 1, 1997 AT PAR
PLUS ACCRUED INTEREST AND TO PROVIDE AN
EFFECTIVE DATE.
WHEREAS, the City Commission of the City of Clearwater on
March 31, 1978 adopted Resolution No. 78-36, awarding the Bonds,
1978 Series, identified in Ordinance No. 1761 and Ordinance No. 1760;
and
WHEREAS, such resolution provides for the redemption of Term
Bonds identified as 2004 Term Bonds; and
WHEREAS, it is necessary to amend the redemption requirement
in order to provide the terms under which such bonds will be redeemed;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY
COMMISSION OF THE CITY OF CLEARWATER, FLORIDA:
Section 1. That Section Z(C)(H) of Resolution No. 78-36 be and the
same is hereby amended to read as follows:
(ii)"The City commencing December 1, 1997 shall call for
redemption by lot at par plus accrued interest on December 1 in
each year in which 2004 Term Bonds are subject to redemption
from moneys in the 2004 Term Bonds Sinking Fund Account such
amount of Z004 Term Bonds then subject to redemption as will
exhaust the moneys then held in the 2004 Term Bonds Sinking
Fund Account as nearly as may be practicable. Prior to calling
2004 Term Bonds for redemption the City shall withdraw from
the Bond Service Account and from the 2004 Term Bonds Sinking
Fund Account and set aside in separate accounts for deposit
with the Paying Agents the respective amounts required for
paying the interest on and principal of the 2004 Term Bonds so
called for redemption. 11
Section 2. All other sections and provisions of Resolution No. 76-36
not herein expressly amended, shall remain in full force and effect.
Section 3. All resolutions or parts thereof of the City in conflict
with the provision herein contained are, to the extent of such conflict,
hereby superseded and repealed.
-I -
Reso.''478.
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Section 4. This resolution: shall take effect immediately upon
its pasaage.
PASSED AND ADOPTED this 20th day of _April A. D., 197B.
Mayor - ommfssfoner
Attest:
ft lerk '
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