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} ORDINANCE NO. 875
AN ORDINANCE SUPPLEMENTING AN ORDINANCE ENTITLED.
"AN ORDINANCE PROVIDING FOR THE CONSTRUCTION AND
ACQUISITION OF ADDITIONS EXTENSIONS AND IMPROVE-
MENTS TO THE MATER AND SEWER SYSTEMS AND STORM
SEWERS OF THE CITY OF CLEARWATER, PINELLAS COUNTY
FLORIDA; PROVIDING FOR THE PAYMENT OR REFUNDING 0' --
CERTAIN OUTSTANDING OBLIGATIONS; AUTHORIZING THE
ISSUANCE OF $1,500,000 UTILITY REVENUE CERTIFICATES,
'`;t f ??; : E, s.=.?" • PROVIDING FOR THEIR MATURITY DATES; PROVIDING FOR
THE EXECUTION, NEGOTIABILITY AND REGISTRATION OF
• .";:F.-q? SAID CERTIFICATES PROVIDING FOR REPLACEMENT AND
PAYMENT OF MUTILATED DESTROYED STOLEN AND LOST
" CERTIFICATES; PROVIDNG FOR THE'COVENANTS AND
REVENUES AND APPLICATION OF REVENUES OF SAID CERTI-
`t FICATES• PROVIDING FOR THE COVENANTS AND OBLIGATIONS
'rR;?s}??:s,"k'°'}F: i'
t OF THE CITY OF CLEARWATER UNDER SAID CERTIFICATES;
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PROVIDING FOR THE ESTABLISHMENT OF THE "UTILITY" rz{a. i
SYSTEM REVENUE FUND AND PROVIDING FOR THE OPERATION R .
AND MAINTENANCE THEREOF; PROVIDING FOR THE DISPQSI-
TION OF REVENUES FROM THE AFORESAID REVENUE FUN ;
LIMITING THE ADDITIONAL OBLIGATIONS WHICH MAY BE
ISSUED AGAINST THE SECURITY PLEDGED FOR SAID CERTI-
FICATES; PROVIDING FOR REMEDIES OF CERTIFICATE 1
HOLDERS; LIMITING MODIFICATION OR AMENDMENT OF THIS
ORDINANCE; PROVIDING FOR THE SEVERABILITY OF THE
.
??•. °' ;. I, PROVISIONS HEREOF; PROVIDING FOR THE ISSUANCE AND
#,4 SALE OF THE CERTIFICATES; PROVIDING FOR THE VALIDA-
r TION OF SAID CERTIFICATE§; PROVIDING THAT THIS ORDI-
NANCE IS AN EMERGENCY MEASURE; AND PROVIDING FOR
REPEAL OF ORDINANCES AND RESOLUTIONS IN CONFLICT '
HEREWITH TO THE EXTENT OF THEIR CONFLICT." AND AU-
THORIZING THE ISSUANCE OF $600,000 UTILITY REVENUE
CERTIFICATES, SERIES OF 1960. ;.,
t
BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF '
CLEARWATER, FLORIDA: ,YA
• ARTICLE I `Y
STATUTORY AUTHORITY, FINDINGS AND DEFINITIONS,
1.01. AUTHORITY OF THIS ORDINANCE. This ordinance is adop-
ted pursuant to the provisions of Chapter 9710, Laws of Florida, Acts
of 1923, and amendments thereof, and supplements thereto, being the Charter 'r
of the City of Clearwater, and other applicable provisions of law, and pur-
suant to Section 3.04 (K) of an ordinance entitled: "AN ORDINANCE PROVIDING
FOR THE CONSTRUCTION AND ACQUISITION OF ADDITIONS, EXTENSIONS AND IMPROVE- `
MENTS TO THE WATER AND SEWER SYSTEMS AND STORM SEWERS OF THE CITY OF CLEAR-
11ATER, PINELLAS COUNTY, FLORIDA; PROVIDING FOR THE PAYMENT OR REFUNDING y?
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OF CERTAIN OUTSTANDING OBLIGATIONS; AUTHORIZING THE ISSUANCE OF $1,500,000
UTILITY REVENUE CERTIFICATES; PROVIDING FOR THEIR MATURITY DATES; PROVIDING
FOR THE EXECUTION, NEGO'T'IABILITY AND REGISTRATION OF SAID CERTIFICATES;
PROVIDING FOR REPLICEMENT AND PAYMENT OF MUTILATED, DESTROYED, STOLEN AND
LOST CERTIFICATES; PROVIDING FOR THE COVENANTS AND REVENUES AND APPLICATION '. '
OF REVENUES OF SAID CERTIFICATES; PROVIDING FOR THE COVENANTS AND OBLIGA-
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TIONS OF THE CITY OF CLEARWATER UNDER SAID CERTIFICATES; PROVIDING FOR THE ;;?;;?°;;;;,: ;,.:; y'f?•
ESTABLISI.1MENT OF THE "UTILITY SYSTEM REVENUE FUND" AND PROVIDING FOR THE
t ls,?_kfu_:'lw::w :i... 4
OPERATION AND Mr1INTENANCE THEREOF; PROVIDING FOR THE DISPOSITION OF REVENUES ••,?%
FROM THE AFORESAID REVENUE FUND; LIMITING THE i1DDITIONAL OBLIGATIONS ;1HICH ???'?'???? ' •4 ? ?6 "S
WiY BE ISSUED AGAINST THE SECURITY PLEDGED FOR SAID CERTIFICATES; PROVIDING LLLL
FOR REMEDIES OF CERTIFICATE HOLDERS; LIMITING MODIFICATION OR ] ENDMENT OF
THIS ORDINMCE;, PROVIDING FOR THE SEVERABILITY OF THE PROVISIONS HEREOF;
PROVIDING FOR THE ISSUANCE AND SALE OF THE CERTIFICATES; PROVIDING FOR 'THE
VALIDATION OF SAID CERTIFICATES; PROVIDING THIN THIS ORDINANCE IS AN EMER- `
GENCY MEASURE'; AND PROVIDING FOR REPEAL OF ORDINANCES AND RESOLUTIONS IN ''•
CONFLICT HEREWITH TO THE EXTENT OF THEIR CONFLICT'enacted by the City
Commission of the City of Clearwater, Florida, on the 16th day of August,
1955 (hereinafter referred to as "Original Ordinance"), and is supplemen- ;
tal to said Original Ordinance.'
1.02 FINDINGS'AND DETERMINATIONS, It is hereby found and
determined as follows:
(A) That the City of Clearwater now owns, operates and main-
tains a combined and consolidated system of utility properties supplying
water and sanitary and storm sewerage services in and to said City and
its inhabitants and other users, (hereinafter referred to as "System") and
that it is necessary and essential that said System be improved and ex-
tended, as hereinafter provided, for the protection of the health, safety
and welfare of the City and its inhabitants.
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(H) That the City derives revenues from rates, fees and r:= '•, :j ,,,:
charges made and collected for the services and facilities of the afore- `',' ... .a.
raid System and said revenues are not pledged or encumbered in any manner
and that no obligations of any kind are chargeable against the revenues
of said System, or any part thereof except as follows:
The City has heretofore issued its Utility Revenue Certi- ;
ficates, Series of 19551 dated August 1, 1955, now outstanding, in the
-principal amount of $1,333,000, maturing in numerical order on August 1
of each year in the years 1961 to 1985,inclusive, (herein called "Out-
.a•L•anding 1955 Certificates"), its Utility Revenue Certificates, Series
of 1956, dated August 1, 1956, now outstanding in the principal amount ;"i':r Y k Yl
of $1,869,000, maturing in numerical order on August 1 of each year in "°s=
'_he years 1961 to 1991, inclusive, (herein called "Outstanding 1956
J(_?rt-i.ficates") and its Utility Revenue Certificates, Series of 1959, 1
dated August 1, 1959, now outstanding in the principal amount of $630,000, maturing in numerical order on August 1 of each year in the years 1961 to j
19891 inclusive, (herein called "Outstanding 1959 Certificates") which
by their terms are payable from and secured by a lien upon and pledge of i N
the revenues derived from the operation of the aforesaid System, in the
t,
manner provided in the Original Ordinance, in the ordinance authorizing
said Outstanding 1956 Certificates and in the ordinance authorizing said ?•" =''
Outstanding 1959 Certificates. '
(C) That said Original Ordinance, in Section 3.04 (K)
thereof, provides for the issuance of pari passe additional Certificates
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under the terms, limitations and conditions provided therein.
(D) That the average annual Net Revenues of the aforesaid`" ?.
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System (as such term is defined in the Original Ordinance) during the preceding two (2) years were $318, 660,00.
(E) That the Certificates authorized to be issued pursuant
to this ordinance shall be on a parity with and rank equally as to lien on
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Ord. 875
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and source and security for payment from the net revenues of the
System and in all other respects, with said Outstanding 1955 Certi-
ficates, said Outstanding 1956 Certificates and said Outstanding
1959 Certificates.
(F) That the City is authorized to issue the Certi-
ficates authorized herein as pari passu additional certificates.
within the authorization contained in Section 3.04 (K) of the
Original Ordinance.
(G) That the aforesaid System shall be improved and
extended substantially in accordance with the plans and specifi-
cations prepared by Briley, Wild & Associates and heretofore filed
in the office of the City Clerk at an estimated cost of not exceed-
ing $600,000. Such cost shall be deemed to include the cost of the
construction or acquisition of extensions, improvements and better-
ments to said System] including two water storage reservoirs and
additions and improvements to the water distribution system, and
including the acquisition of any lands or interest therein and of
any fixtures or equipment or properties deemed necessary or convenient
therefor, interest upon the Certificates issued pursuant to this
ordinance prior to, and during and for six months after the comple-
tion of such extensions, improvements and betterments, engineering
and legal expenses, expenses for fiscal or financial advisors, ex-
penses for estimates of costs and of revenues, expenses for plans,
specifications and surveys, administrative expenses and such other
expenses as may be necessary or incident to the financing authorized
by this ordinance, and the construction or acquisition of the ex-
tensions, improvements and betterments authorized by this ordinance
and the placing of same in operation.
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(H) That the estimated revenues to he derived from the
operation of said System will be more than sufficient to pay all operr
nting and maintenance costs of said System and to pay the principal of
<<nl interest on the Certificates herein authorized and the principal of
rind interest an the Outstanding 1955 Cdrtificates, on the Outstanding
1950 Certificates, on the Outstanding 1959 Certificates, and all sinking
fund, reserve and other.payments.provided for in this ordinance, in the
ordinance authorizing the Outstanding 1959 Oertificates, in the ordinance
authorizing the Outstanding 1956 Certificates, and in the Original Ordin-
nance, and that it will never be necessary or authorized to levy taxes
on any real property in said City to pay the principal of or interest
on any of the Certificates to be issued pursuant to this ordinance, or
to make any of the reserve, sinking fund or other payments provided for
in this ordinance, and that the Certificates issued pursuant to this
ordinance.shall not constitute a lien upon any part of said System or
upon any other property whatsoever of the City.
1.03. ORDINANCE TO CONSTITUTE CONTRACT. In consideration
of the acceptance of the Certificates authorized to be issued hereunder
by those who shall hold the same from time to time, this ordinance and
the Original Ordinance shall be deemed to be and shall constitute a con-
tract between the City and such Certificate holders, and the covenants
and agreements set forth to be performed by said City shall be for the
equal benefit, protection and security of the legal holders of any and
all of said Outstanding 1955 Certificates, said Outstanding 1956 Certi-
ficates, said Outstanding 1959 Certificates, and the Certificates issued
hereunder, and the coupons attached thereto, all of which shall be of
equal rank and without preference, priority or distinction of any of the
Certificates or coupons over any other thereof, except as expressly pro-
vided therein and herein.
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1.04 DEFINITIONS. That all of the definitions and terms
cottainad in the Original Ordinance shall have the same meanings ascribed
.jxata in the ? Original Ordinance and shat fully to this ordinance
l apply i
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and to the Certificatesissued hereunder.
ARTICLE II
2.01 AUTHORIZATION OF CERTIFICATES. Subject and pursuant
s '?•'' x???.."?•
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to the provisions of this ordinance and the Original Ordinance, obligations
of the City of Clearwater, Florids to be known as "Utility Revenue Certi-
rk f.,
3?:•.4.3c.StaX
y?p[ficates, Series of 19601'; are hereby authorized to be issued in the aggre-
gate principal amount of not exceeding Six Hundred Thousand Dollars ($600,000)x`
for the purpose of financing the cost of the improvements to the System as
_ ?, rlu? provided in. Section 1.02 (G) hereof.
2.02 DESCRIPTION OF CERTIFICATES. The Certificates shall
..*?: ' •n. be dated August 1, 1960; shall be in the denomination of $1,000 each, shall
be numbered from 1 to 600, inclusive; shall bear interest at a rate or rates, ;
?. not exceeding the legal rate; to be determined upon the sale thereof, pay-
?v able semi-annually on February 1 and August 1 of each year; and shall mature
t serially in numerical order, lowest numbers first, on August 1 of each year,
in the years and amounts as follows; yr
i
Year Amount Year. Amount
P y
1962 $10,000 1976 $20;000
1963 10;000 1977 20,000
" a 1964 10,000 1978 20,000
'NE 1965 10; 000 1979 20,000
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1966 15;000 1980 201000
1967 15; 000 1981 25, 000' i
' 1968 15;000 1982 25,000
1969 15;000 1983 25,000
33. .
1970 15; 000 1984 300`000
1971 151000 1985 304`000 °
1972 15;000 1986 301r000
1973 15;000 1987 30,000
1974 20;000 1988 30,000
1975 201?000 1989 35,000:
1990 . 40, 000
Said Certificates shall be issued in coupon form, shall be -?s
payable with respect to both principal and interest at the principal
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Ord'. 875
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0 office of The Chase Manhattan Hank, New York City, New York, in lawful
money of the United States of America, and shall bear interest from
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v c. { C their date, payable in accordance with and upon surrender of the appur-
tenant `interest coupons as they severally mature.
sJ The Certificates maturing in the years 1975 to 19901
inclusive shall be redeemable prior to their respective stated d-stes t, :';•`: _
fFr maturity, at the option of the City, an August 1 1974, or on any :?Y. ;•,.,....-,'
XR ra t' ?F °7;?Y^
•'? ? interest payment date thereafter; in whole or in part but in inverse
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numerical order if less than a11, at 'par and accrued interest to the
date of redemption, plus a premium of one-fourth of one per cent of?
the par value thereof for each year, or fraction thereof, from the
1?=° ``"' ?s= date of redemption to the stated date of maturity of the Certificates '.r
"
called for payment, such premium in no event, however, to exceed three t
per cent of the par value of such Certificatesr provided, however, that
„.:. notice of such intended redemption shall be given at least once not less
than thirty (30) days prior to the redemption date by publication in a
,
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;r financial paper published in the City of New York, New York. Interest
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§ '61
shall cease on any of the Certificates duly called for redemption, on t,.
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s the redemption date, if payment thereof is duly provided for.
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2.03 EXECUTION OF CERTIFICATES AND COUPONS. Said
Certificates shall be executed in the name of the City by the City Clerk x
and its City Manager and countersigned by the Mayor-Commissioner and x ! `
shall have imprinted, impressed or reproduced thereon the corporate seal
of the City or a facsimile thereof, and said Certificates shall be ap-
proved as to form and correctness by the City Attorney, The facsimile
signatures of said City Clerk, City Manager, Mayor-Commissioner and City
. e"
Attorney may be imprinted or reproduced on said Certificates, provided
that either said City Clerk, City Manager or Mayor-Commissioner shall f 0
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Ord. 875 -7-
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manually apply his signature on said Certificates. In case any one
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or more of the officers who shall have signed or sealed any of the
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Certificates shall cease to be such officer of the City before the
Certificates so signed and sealed shall have been actually sold and
delivered, such Certificates may nevertheless be sold and delivered
as herein provided and may be issued as if the person who signed or
srti?•:wl..iAi?r°iA'`..uJR13 L,'y:`....`Y.\ '
sealed such Certificates had not ceased to hold such office. An
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Certificates may be signed and sealed on behalf of the City by such
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person as at the actual time of the execution of such Certificate
shall hold the `: . , s tr
proper office in the City, although at the date of ?"`?•.
such Certificates such person may not have held such office or may
not have been so authorized. i
The coupons to be attached to the Certificates shall be ' ?
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authenticated with the facsimile signatures of the present or any
future Mayor-Commissioner, City Manager and City Clerk of said City, w'
and the City may adopt and use for that purpose the facsimile signs- .'
ture of any person who shall have been such Mayor-Commissioner or
City Manager or City Clerk at any time on or after the date of the
Certificates, notwithstanding that he may have ceased to be such
4
official at the time when said Certificates shall be sold and de- F.
livered.
2.04 FORM OF CERTIFICATES AND COUPONS. The text of the
Certificates and coupons and provisions for registration shall be ,r "kj
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of substantially the following tenor, with such omissions, insertions
and variations as may be necessary and desirable and authorized or,:.
permitted by this ordinance or any subsequent ordinance adopted prior
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to the issuance thereof. Said Certificates shall be registerable,
replaceable and negotiable in the manner and to the.extent provided
in the Original Ordinance.
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Ord.. 875
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No. UNITED STATES OF AMERICA $11000
STATE OF FLORIDA
COUNTY OF PINELLAS
CITY OF CLEARWATER
UTILITY REVENUE CERTIFICATE, SERIES OF 1960
131011 ALL MEN
Pinellas County, Flori+
the bearer, or if this
as herein provided, on
hereinafter mentioned,
BY THESE PRESENTS, that the City of Clearwater, in
la, for value received, hereby promines to pay to
Certificate be registered, to the registered holder
the first day of August 19from the revenues
the principal sum of
ONE THOUSAND DOLLARS ($1,000)
with interest thereon at the rate of per centum
per annum, payable semi-annually on the first day of February and the
first day of August of each year, upon the presentation and surrender' of
the annexed coupons as they severally fall due. Both principal and inter-
est on this Certificate are payable at the principal office of The Chase
Manhattan Bank, New Fork City, New York, in lawful money of the United
States of America.
This Certificate is one of an authorized issue of Certificates
in the aggregate principal amount of not exceeding $6001000, of like date,
tenor and effect, except as to'number and date of maturity, issued to fi-
nance the cost of the acquisition and construction of various improve-
ments and extensions to the combined system of utility properties supply-
ing water and sewer services for the City of Clearwater, under the author-
ity of and in full compliance with the Constitution and Statutes of the
State of Florida, including the Charter of said City and other applicable
Statutes, and ordinances duly enacted by the City Commission of said City
,and is subject to all the terms and conditions of said ordinances.
The Certificates of the issue of which this Certificate is one
maturing in the years 1962 to 19740 both inclusive, are not redeemable
prior to their respective stated dates of maturity. The Certificates of
said issue maturing in the years 1975 to 1990, both inclusive, are re-
deemable prior to their respective stated dates of maturity, at the option
Ord. 8?5
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of the City, on August 1, 1971, or on any interest payment date there-
after, in whole or in part but in inverse numerical order if less than
all, at the price of par,and accrued interest to the'date of redemption,
plus a premium of one-fourth of one per cent of the par value thereof
for each yeer, or fraction thereof, from the date of redemption to the
stated date of maturity of the Certificates called for payment, such
premium in no eve nt, however, to exceed three per cent of the par value
of such Certificates; provided, however, that a notice of such redemption
shall have been published at least once at least thirty days prior to the
date of redemption in a financial paper published in the City of New York;
New York. Interest shall cease on any of the Certificates duly called for
redemption, on the redemption date, if payment thereof has been duly pro-
vided for.
This Certificate and the coupons appertaining hereto are pay-
able solely from and secured by a lien upon and pledge of the net reve--'
hues derived from the operation of the utility properties of the City
supplying water and sewer services in the manner provided in the ordi-
nance authorizing the issue of Certificates of which this Certificate is
one, This Certificate does not constitute an indebtedness of said City
within the meaning of any constitutional, statutory or charter provision
or lirnitation, and it is expressly agreed bythe holders of this Certifi-
cate and the coupons appertaining hereto that such holders shall never
have the right to require or compel the exercise of the ad valorem tax-
ing power of said City, or the taxation of real estate in said City, for
the payment of the principal of and interest on this Certificate, or the
making of any sinking fund, reserve or other payments provided for in
the ordinance authorizing this issue of Certificates. It is further
agreed betweenthe City of Clearwater and the holder of this Certificate
that this Certificate and the obligation evidenced hereby shall not
,
constitute a lien upon the City's utility properties, or any part there-
of, or on any other property of or in the City of Clearwater, but shall
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TI'• +7e .:t'':1'J•51'`'1 V•iJt51 Ii tyu*,'-"b-G.3 ?l ::r?•xr "NhS i''SR J ?
constitute a lion only on the net revenues derived from the operation of . ; '..'
said utility properties supplying water and sowor services in the manner
•
{ er N
providod in said ordinance
.
M o
t.'
i
The Certificates of the issue of which this Certificate is
one are on a parity and rank equally as to lion on and source and
security for payment from the net revenues of the aforesaid utility
propertios of the City, and in all other respects, with outstanding
certificates of an original issue of $1i 5oo,oo0 Utility Revenue Corti-
ficates, Series of 1955, dated August 1, 1955, with outstanding certi-
R
C
t
000 Utili
ifi
i
i
i
f
2
000 ,
,
ca
es
evenue
ert
g
nal
ssue o
;p
,
ty
ficates of an or ,
Series of 1956, dated August 1, 1956, and with outstanding certificates
of an original issue of :,630,000 Utility rLevenue Certificates, Series ?
of 1959; dated August 1, 1959] and any other pari passu certificates
hereafter issued by the City payable from the net revenues of said
utility properties under the terms, limitations and conditions contained
in the ordinances which authorized the issuance of said $11500,000
Utility Revenue Certificates, Series of 1955, said X2,000,000 Utility
Revenue Certificates, Series of 1956, and said y630,000 Utility Revenue
Certificates, Series of 1959. r
.•t
The City in said ordinance has covenanted and agreed with the
holders of the Certificates of this issue to fix and establish and Train-
Lain such rates and collect such fees, rentals or other charges for
the services and facilities afforded by the Cityts utility properties
supplying water and sewer services and to revise the same from time to
time whenever necessary, as will always provide revenues sufficient to
pay, and out of said revenues shall pay, as the same become due, the
principal of and interest on the Certificates of this issue, all re-
serve or sinking fund or other payments provided for in said ordinance,
the necessary expenses of operating and maintaining said utility prop-
erties, and all other obligations payable out of the revenues of said
utility properties, and that such rates, fees, rentals or other charges
shall not be reduced so as to be insufficient to provide revenues for
Ord. 875 -11-
L
}yys 'c. ;scS?r< ?. .:`'???:?? ''x: i=:?. Vii; .. .. _ •.1 ']??Y,:`ti
y17t'??%s??t??,c1y?J.:,??!_.'.
?{??ffY•?4%is???„k?::; 1?4?. ti+`_"?z °;:a'EA '4'?',':": ? ? '1 ? •?i ?.
1,S_ __?`l: ____ _ •S' __ _ t!:'!`? •Q'•4iit-w 7h1N r_if` ti^ L+?i?^-?_ ?._?___??? '•
a?
4
fop
I-
;
such purposes, and said City has entered into certain further covenants
with the holders of the Certificates of this issue for the terms of
• which reference is made to said 'ordinafice.
? It is hereby certified and recited that all acts, conditions
and things required to exist, to happen and to be performed precedent
,99 to
nd i
th
f thi
C
i
tifi
t
i
t
h
h
d
d
n
ssuance o
s
an
a
e
er
ca
s
,
appene
e, ex
ave
have been performed in regular' and due form and time as required by
} s
' ?
x the Laws and Constitution of the State of Florida applicable thereto,
; and that the issuance of this Certificate, and of the issue of Certi-
+. Y
wX=1k;,+? ficates of which this Certificate is one, is in full compliance with
all constitutional., statutory or charter limitations or provisions.
This Certificate, and the coupons appertaining hereto; is,
? i
r
a? and has all the qualities and incidents of, a negotiable instrument'
ff under the law merchant and the Negotiable Instruments Law of the State
of Florida, and the original holder and each successive holder of this
Certificate, or of the coupons appertaining hereto, shall be conclu-
•, ti sively deemed by his acceptance hereof to have agreed that this Certi-
ficate and the coupons appertaining hereto shall be and have all the
qualities and incidents of negotiable instruments under the laws
' merchant and the Negotiable Instruments Law of the State of Florida.
The original holder and each successive holder of this Certificate,
and of the coupons appertaining hereto shall be conclusively deemed
to have agreed and consented to the following terms and conditions:
C
" (a) Title to this Certificate,,unless registered as herein
provided, and to the annexed interest coupons,cray be transferred by
e delivery in the manner provided for negotiable instruments payable to
' bearer in the law merchant and in the Negotiable Instruments Law of
the State of Florida.
(b) Any person in possession of this Certificate, unless
registered as herein provided, or of the interest coupons hereunto
appertaining, regardless of the manner in which he shall have acquired
possession, is hereby authorized to represent himself as the absolute
Ord. 875-12-
F 11 ????T'?-1+..?1 .r .?«?7: t: r.?.3w;o?ry? sra.?J•;'. ?.? 'i i'ii`:??,ti??'s???
.^} T.t{• t? ?Tk'3^t?'ky'i?i? ?SNS•3t {: ,5'?d?. t"•'*t,. -? ' ?': ., ?R"`.. '.' ..
y 'k??;'t.; ?•'S?SY'•' '',Ste 5y.711- t ik ! , . r, r"
?. .r^?.?:Yins:S°i??"'Y:''tij..??"?':1.???3?6?e n? ','y .? •,:°?I3 .?, •-
??. - __ .. iiwr't'w'r`y,?'a„ M, r.,.'?. •,'?, '.. .,r,,. 4,Ly. ..•r» _ _ _ __,. 1.?1..
T
??,• `' .yam • r1?: 'Li
:i.,•:?e: SR ?'?'i?1s??4:iSR«-6'{+trsYq'1i1?rF ' '
S°.'fyijf?ki?r7
5L, .
.`4i":T1??.a "'t"'. N7 "T.: -'S •.. is •a-?
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unless registered as herein provided, and of the annexed interest coupons,
waives and renounces all of his equities and rights herein in favor of
every such bona fide purchaser and every such bona fide purchaser shall
acquire absolute title hereto and to all rights represented hereby; and
V, A (c The City of Clearwater Florida may treat the bearer of
this Certificate, unless registered as herein provided, or of the in-
0.S 'JIVy,
terest coupons hereunto appertaining, as the absolute owner hereof for
all purposes without being affected by any notice to the contrary.
4 f { r
This Certificate may be xagistered as to principal only, or
as to both principal and interest, in accordance with the provisions
endorsed hereon.
IN VJITNESIS WHEREOF, said City of Clearwater, Florida, has
issued this Certificate and has caused the same Lobe executed by the
manual or facsimile signatures of its City Clerk and City Manager and
countersigned by the manual or facsimile signature of its Mayor-Commis-
sioner, and approved as to form and correctness by the City Attorney by
his manual or facsimile signature and its corporate seal or a facsimile
thereof, to be affixed hereto, or imprinted hereon and has c aused the
interest coupons hereto attached to be executed with the facsimile
signatures of said City Clerk, City Manager and Mayor--Commissioner,
all as of the first day of August, 1960.
CITY OF CLW RWATER, FLORIDA
Countersigned:
r ayor•- ommis stoner
Lpproved as to form and
correctness:
By
City Clerk
By
City Manager
4 n ry? ?tit:?
" Ir •
"a
ail. . . ?.' ?.
1 ,Te
M.
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4,Rjy
No, FORM OF COUPON
On the first day of , 19 , the City of Clear-
water, Florida, will pay to the bearer, at the principal office of The
Chase l fanhattan Bank, New York City, New York, in lawful money of the
*United States of America,' from the revenues described in the Certifi-
cate to which this coupon is attached, the sum of
dollars upon presentation and
surrender of this coupon, being-six months interest then due on its
Utility Revenue Certificate, Series of 1960, dated August 1i 1960.
CITY OF CL EAMIATER, FLORIDA
By City er 4'
By
Mayor- ommissioner ity Manager
(To appear only on coupons on callable Certificates "unless the Certi-
ficate to which this coupon is attached shall have been duly called
for prior redemption and payment thereof duly provided for.«)
FORM OF VALIDATION CERTIFICATE
This Certificate is one of a series of Certificates which
were validated and confirmed by decree of the Circuit Court of the
Sixth Judicial Circuit of Florida, in and for Pinellas County, rendered
on the day of 1960.
CITY OF CLEARWATER, FLORIDA
By.
City MR
Mayor-Commissioner
Ord. B75
By '
City C anager
11043
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_- ?_- r 1MFiW.f 77'31!• Lvlr•wlh A1. / 'i •t 'l • •.?.?^L. i'.t M ? Y ?- ? /= J......:_ril
••
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4
PROVISION FOR REGISTRATION
7
This Certificate m ay be registered in the n ame of the holder
on the books to bekept by the City Treasurer as Registrar, or such
other Registrar as may hereafter be duly appointed, as to principal
only, such registration being noted hereon by such Registrar in the
registration blank below, after which no transfer shell be valid unless
made on said books by the registered holder or attorney duly authorized
and similarly noted in the registration blank below, but it may be
discharged from registration by being transferred to bearer, after
which it shall be transferable by delivery, but it may be again regis-
tered as before. The registration of this Certificate as to principal
shall not restrain the negotiability of the coupons by delivery merely,
but the coupons may be surrendered and the interest made payable only
to the registered holder, in which event the Registrar shall note in the
registration blank below that this Certificate is registered as to in-
terest as well, as principal) and thereafter the interest will be re-
mitted byrrail in New York exchange to the registered holder. With the
consent of the holder and of the City of Clearwater,.t his Certificate,
when converted into a Certificate registered as to both principal and
interest, may bexeconverted into a coupon Certificate and again con-
verted into a Certificate registered as to both principal and interest
as hereinabove provided. Upon reconversion of this Certificate, when
registered as to principal and interest into a coupon Certificate,
coupons representing the interest to accrue upon the Certificate to
date of maturity shall be attached hereto by the Registrar and the
Registrar shall note in the registration blank below whether the Cer-
tificate is registered as to principal only or payable to bearer.
DATE OF IN WHOSE NAI4E MANNER OF SIGNATURE OF
REGISTRATION REGISTERED REGISTRATION REGISTRAR
Ord. 875 ..15_
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g?i ?{?t?t?6?r??• ??',• r?a•?`~i54.?. ,£E ,'?? ?y ?C?,_A-='Y.1n....')l• ' Y_ ? ? .' ? ? i. 1 .. _
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MY
ARTICLE III
SECURITY OF CERTIFICATES
3.01. C&,TIFICATES ON PARITY ',iITH OUTSTANDING UTILITY REVE-
NUE CERTIFICATES. The Certificates issued pursuant to this ordinance
shall be on a parity with and rank equally, as to lien on and source
and security for payment from the Net Revenues of the System and in
all other respects, with the outstanding Utility Revenues Certifi-
cates, Series of 1955, dated August 1, 1955, issued pursuant to the
Original Ordinance, the outstanding Utility Revenue Certificates, Se-
ries of 1956, dated August 1; 19561 issued pursuant to an ordinance
supplemental to said Original Ordinance, the outstanding Utility Rev-
enue Certificates, Series of 1959, dated August 1, 1959, issued pursu-
ant to an ordinance supplemental to said Original Ordinance, and any
pars passu additional obligations hereafter issued pursuant to and
within the terms, limitations and conditions contained in Section
3.04 (K) of the Original Ordinance.
3.02. CERTIFICATES SECURED BY ORIGINAL ORDINANCE. The Cer-
tificates authorized by this ordinance shall be deemed to have been
issued pursuant to the Original Ordinance (to which this ordinance is
supplemental.) as fully and to the same extent as the Utility Revenue
Certificates, Series of 1955, dated August 1, 1955, originally issued
pursuant to said Original Ordinance, and all of the covenants and agree-
ments contained in the Original. Ordinance shall be deemed to have been
made for the benefit of the holders of the Certificates issued pursu-
ant to this ordinance, the holders of said Outstanding 1956 Certifi-
cates, the holders of said Outstanding 1959 Certificates, and the
holders of any pari passu additional obligations hereafter issued
within the terms, limitations and conditions contained in Section
3.04 (K) of the Original Ordinance, as fully and to the same extent
as for the holders of said outstanding Utility Revenue Certificates,
Series of 1955, dated August 1, 1955.
All of the covenants, agreements and provisions of said
Original Ordinance (except as to details inconsistent with this or-
dinance) shall be deemed to be part of this ordinance to the same
extent as if incorporated verbatim in this ordinance, and shall be
fully enforceable in the manner provided in said Original Ordinance
Ord. 875 -16-
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+ .41?4'??`{'r,a???
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"K., ?:? °r it ..`/e:.. M•. • .t.'i • • ?» ,'iE. ?,' ]L :',SL?}•1 L. r. ... .. ??,??
.ur::i: .. .... x... - ..-•?.,.-.,',._e_.r' -3?i.'„r'. ,::5:•n:'i...`,?"=%::39<'r?'/;:.n.9;.?1.tf:.i:'t.,,:ri'r,.?it?'sit..aL-'?iE?,?:?'3.?T a ..
?l = Pfd y?y`? ? e r i.
1, .xL- t ?tt '
1 ??i?•: r,Y\•1 ! Axnr
li
? .s?•. °7.Fl,wrr
., by any of the holders of the Certificates issued pursuant to this or-
I
dinance+ ..
The Revenue Fund, Sinking Fund, Reserve Account in said Sink-
ing Fund' and Renewal.. and Replacement Fund, created and established pulr-
suant to the Original Ordinance shall be continued and maintained as provided in the Original Ordinance, in the supplemental ordinance au- ;
thorizing the Outstanding 1956 Certificates and in the supplemental
4 k x '''V•t ,r
ordinance authorizing the Outstanding 1959 Certificates as long as any
of the Certificates issued pursuant to this ordinance, or the interest
' `ter f?,?, ' `' ,.t•? ???:r`':?•.a'?.=?,, '?.:;
thereon are outstanding and unpaid, and the payments into said Sink-
ing '.+,. s,•.;?: -
Fund and Reserve Account therein shall be increased b the amounts
rry?z??.:' necessary and required for the Certificates issued pursuant to this or-',''° , > >
dinance and no reference priority or distinction of an kind shall
N't .> ,, exist or be exercised in payments from said Sinking Fund or the Reserve T
*y' Account therein between said Outstanding 1 Certificates said Out- i
x 955 ,
?.. standing 1956 Certificates, said Outstanding 1959 Certificates, the
Y`_?° =+ Certificates issued pursuant to this ordinance, and any pari passu ad-
ditional obligations hereafter issued pursuant to the terms, limitations
E'.
and conditions contained in said Original Ordinance.
ARTICLE IV
APPLICATION OF CERTIFICATE PROCEEDS
4.01. APPLICATION OF CERTIFICATE PROCEEDS. All moneys received
from the sale of any or all of the Certificates authorized and issued,
pursuant to this ordinance shall be disbursed and applied as follows;
(a) All accrued interest received upon the delivery of the
Certificates shall be deposited in the Sinking Fund established pur-
suant to the Original Ordinance.
(b) The balance of the proceeds of sale of the Certificates
shall be deposited by the City in a Construction Trust Fund under terms
and provisions of a Construction Trust Fund Agreement to be authorized
by resolution of the City Commission and shall be disbursed and applied
toward the payment of the costs of extending, improving and adding to
the System, as authorized by this ordinance, upon the terms and condi-
tions applicable to the withdrawal of moneys from said Construction
-17-
16.4 IV
I WIT
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MAWK'1?11?
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` Y
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Trust Fund pursuant to the provisions of said Construction Trust Fund
?•f
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Agreement.
;t;'a R
ARTICLE V
MISCLLLANEOUS PROVISIONS
5.01. MODinCATION OR AMENDIENT. No 'Material modification
, 'rr
or amendment of this ordinance or of any ordinance or resolution amend-
?
• •. ,
' ..`
.
story hereof or supplemental hereto, may be made without the consent `
in writing of the holders of two-thirds or more in principal amount
3
of the Certificates then outstanding
provided
however
that no mod- ; <rdY fv• .
'a. ?,..?°f ? '"
'
?;?
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,
,
,
h
i
t
it
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it
h C
tifi
ifi
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h
ll
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f ??,•
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,
n
on s
perm
ur
er
ca
es
ca
a
a c
ange
e ma
y o
suc
i
t
ti
h
f i
h
i
f
on
nterest t
or a reduc
n t
e ra
ereon, or
n the amount o
e o
the principal obligation or affecting the unconditional promise of the
City to fix, maintain and collect fees, rentals and other charges for 0_
the water service and sewer service of the System sufficient to pay M & • '`;.'
tificates.
5,02. SEVERABILITY OF INVALID PROVISION. If any one or more
t 4
of the covenants, agreements or provisions of this ordinance should be
held contrary to any express provision of law or contrary to the poli-
cy of express law, though not expressly prohibited, or against public
policy, or shall for any reason whatsoever be held invalid, then such
covenants, agreements, or provisions shall be null and void and shall
be deemed separate from the remaining covenants, agreements or provi-
sions, and in no way affect the validity of all the other provisions
of this ordinance or of the Certificates or coupons issued thereunder.
5.03. ISSUANCE AND SALE OF CERTIFICATES. The $600,000 Cer-
tificates initially authorized to be issued pursuant to this ordinance
y1°
shall be issued and sold in such manner and at such price or prices
consistent with the provisions of this ordinance, as the City Commis-.w
3. a
.sion„shall hereafter determine. ` sfiI
Ord..875 9,9)
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5.O4. VALIDATIONAUTHORIZED. That pursuant to Chapter
I. Florida Statutes, the City Attorney of the City of Clearwater, be and
f4} t' he is hereby authorized and directed to prepare and institute proceed-
ings in the Circuit Court of the Sixth Judicial Circuit in and for Pi-
nellas County, Florida, to validate and confirm the issuance of the
Certificates authorized by this ordinance and all proceedings and ac-
r ,k.
' s.
?r r
tions taken relating thereto:
" Upon the validation of the Certificates pursuant to such pro-
w ceedings, there shall be printed upon each such Certificate prior to
. _?...,..
z ?_...__. rho.
the delivery thereof, and over the facsimile signatures of the Mayor-
i•
s
Commissioner, City Manager and City Clerk, a Validation Certificate
a
in the form hereinabove set fortht
.
t 5054 EFFECTIVE DATE. It is hereby found, declared and de-
termined that the funds to pay the cost of the construction of the
r additions, extensions and improvements to the System authorized herein
rk-
t
+ are necessary and urgently needed for the preservationof the health,
?> y
?
• s' safety and welfare of the inhabitants of the City of Clearwater; that
an emergency is hereby declared, and that this ordinance shall be in
full force and effect immediately upon its passage as provided by law.
PASSED ON FIRST READING
PASSED ON SECOND READING
PASSED ON THIRD AND FINAL
READING
Attest:
Ci l.er
S t m r 26, 60
4 491- .1
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1'' :+,,t:F:s!r +`" star. County, Florida AN x.:;''?;Jt„ •!F4"• S ?i ti
.i- , i Clearwater, Pinellas OHDINANOitt'•.aVPPLZI}gttt111( ii :e': .-,ai
?3'-'` :°.•• . ,?'-a=:' w STAT& OF FLORIDA NAtiW:'7sNT11q.IIDr't fn,. ? tit's'.: Fi+.:?
i• _^ >a QADINAHCIZ , R0VIDDM;,l a -,-,i,,:s,4v. -kjs ,,c, ,a.t"% .
,4,.'- ':'<'r' J%sa:''...F ?t _ COUNTY OF PYN?.'LLABt , ;HffTAUCTI0jAND•'ACQVIliITI ',S«;r %ti:+`'4 IX:" 4{z
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.; ` _'' ' 'a':'` 1. Before the undersigned authority personally appeared W. Paul Harris, who on "jUrWVzUZMfi-TO :.TIM "'''",-. :#=? ;j,? '=i
r- t,-.-I- :''' ? A' ; ' oath says that he Is the Business Manager of the Clearwater Sun, a daily newspaper ?? siiBFOf MIX Q `. ?;. , y.;; ? ; ??,;3,'d r:;
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,p&Bf3 Florida,
.... in .Hatl Pinellas
ae..af. County,
.Or??i71 attached
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f.t:,;r=r4JJ,kj,fn-i; "„ Published at advertisement, being a Clearwater
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':X' ? ? :,''':...' ................................................. . ...... ........ In the matter of 1A CM o)I' $i 5w eee uTUAWv;j=. ;` °. , , , k,7 . "'
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.1 yi.??t"\+ f;„ In the ....................... . ................ ... . ......... Court, was published in AND PATI X"r: DP'% TZD ''t'1T',, "'• i`.• y".,ai
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] '' Affla=t further says that the said Clearwater Sun is a newspaper published at ;o3itdOATtoNa.Dr7'Tlgtr,, JA0 ,:.,:::, ;s' ,,, ?J5 .r
r' ''' .S' 'C'I.'AtAAwAxxR'tv6MR:^lAm:."? 1 '1'6,."'N ''=':?IJ:::
t?11V?? -.. _ _ . Clearwater, in said Pinellas County, Florida, and that the said bawspaper has ITSrlawTSaYi PROVM1NaIFr0i! , ...• ,:vi ` sr?{'t?,') •
f'. ?tu. ?, •;.` heretofore been continuously published In said Pinellas ty, Florida, each day and f]ctr,}>r?tsttsrxNT,01FI rlCS;• :.;a{y,r,.:;,:,, ,
x•. `° bus been entered as second clans mall matter qt th oat of Ice in Cloarwator, in saide1? .. ]tFVZ;NVIf•"IUttD :t'}'3?,,5 fk ''r:; 11 ? ; i p,;_ AND P7tDVID Na-FOR',TItRrpp f r 1;;;
Z, , .5 , r g3 Pinellas County, Florida, for a period of n d o11eafila Yearn t pre ng the first publication of : AVON AND' Y'A I N T M N7? D n ?X*l"" ??° fl.far ?•.
'Ai t ?' 1 : the attached copy of advertisement; ant ,the a i that he has neither paid :TXCREOrt. PhOVIDINa'xr1gt V „` ?h`,:..?.,'I
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