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ORDINANCE NO. 879
AN ORDINANCE AUTHORIZING THE CONSTRUCTION AND
ACQUISITION OF A BRIDGE ACROSS LITTLE PASS,
.µ BETWEEN CLEARWATER BEACH AND SAND KEY IN
PINELLAS COUNTY, FLORIDA, SAID BRIDGE BEING
PART OF A PROPOSED CAUSEWAY AND BRIDGE PROJECT
BETWEEN CLEARWATER BEACH, FLORIDA AND BELLEAIR
BEACH, FLORIDA; AUTHORIZING THE IbSUANCE OF NOT
EXCEEDING $1,500,000 BRIDGE REVENUE BONDS TO
FINANCE THE COST OF SAID BRIDGE AND PROVIDING
FOR THE RIGHTS AND REMEDIES OF THE HOLDERS OF
SAID BRIDGE REVENUE BONDS.
BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF CLEARWATER,
FLORIDA:
ARTICLE I
STATUTORY AUTHORITY, FINDINGS AND DEFINITIONS
Section 1.0L AUTHORITY FOR THIS ORDINANCE. This ordinance
is adopted pursuant to the provisions of Chapter 159, Florida Statutes,
and other applicable provisions of law.
Section 1.02. FINDINGS. It is hereby found, determined and
declared as follows:
(A) That it is necessary and desirable and in the best interests
of the City of Clearwater, Florida, and the inhabitants thereof, to con-
struct and acquire a bridge across Little'Pass, between the southernmost
point of Clearwater Beach and Sand Key in Pinellas County, Florida, said
bridge being part of a proposed Causeway and Bridge Project between Clear-
water Beach, Florida, and Belleair Beach, Florida.
(B) That said proposed Causeway and Bridge Project consists
of a two-lane causeway beginning at a point near the northern terminus
of Gulf Boulevard (County Road 208) in Belleair Beach, Pinellas County,
Florida, and extending northward a distance of approximately 1.96 miles
along the eastern shore of Sand Key, thence across Little Pass by a bridge
approximately 2378 feet in length to the southernmost point of Clearwater
Beach, thence north and west 0.16 miles to a connection with Gulf Way
Boulevard, South in Clearwater Beach, Florida.
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(C) That the proposed Causeway and Bridge Project re-'
ferred to in (B) above, exclusive of the said bridge across Little
Pass herein authorized to be constructed and acquired, is to be
constructed or acquired by the State Road Department of Florida and
financed by the State Road Department of Florida from any moneys
legally available therefor, at an estimated cost of Five Hundred
Thousand Dollars ($5001000.).
(D) That the City of Clearwater, Florida, will derive
revenues from the operation of the said bridge across Little Pass
herein authorized to be constructed and acquired; that said revenues
are not pledged or encumbered in any manner and it is deemed necessary
to pledge such revenues to the payment of the principal of and inter-
est on the Bonds to be issued pursuant to this ordinance,
(E) That the revenues to be derived in each year hereafter
from the operation of the said bridge across Little Pass herein author-
ized to be constructed and acquired will be at least sufficient to pay
all costs of operating and maintaining said bridge in such year, the
principal of and interest on the Bonds to be issued pursuant to this
ordinance maturing and becoming due in such year and all sinking fund,
reserve and other payments provided to be made in such year by this
ordinance.
(F) That the principal of and interest on the Bonds to be
issued pursuant to this ordinance and all sinking fund, reserve and
other payments provided for in this ordinance will be paid solely
from the revenues derived by the City from the operation of said bridge
across Little Pass herein authorized to be constructed and acquired and
said Bonds to be issued pursuant to this ordinance shall not constitute
a lien upon said bridge across Little Pass herein authorized to be con-
structed and acquired, or any part thereof, or upon any other property
of the City of Clearwater, except the revenues to be derived from the
operation of the said bridge across Little Pass herein authorized'to
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(G) That there is hereby authorized the construction and L: "' 'r.•''?
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acquisition of a bridge across Little Pass, between the southernmost
point of Clearwater Beach and Sand Key in Pinellas County, Florida, _
said bridge being part of a proposed Causeway and Bridge Project "-
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between Clearwater Beach, Florida, and Belleair Beach, Florida, at
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an estimated cost of One Million Five Hundred Thousand Dollars ?r%
($1,500,000), and other purposes necessary, appurtenant or incidental ?• :r:.._'
thereto, substantially in accordance with plans and specifications 1
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therefor heretofore prepared by J. E. Greiner Company, Inc., Consult-
ing Engineers, of Tampa, Florida. Such cost shall be deemed to in-
clude the cost of construction and acquisition of said bridge across
Little Pass, including the acquisition of land or interests therein:
and any other property, real or personal, tangible or intangible,
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necessary or convenient therefor; interest upon the Bonds herein
authorized prior to, during and for one year after the completion and is
placing in operation of said bridge; engineering and legal expenses,
expenses for financial or fiscal services, the cost of plans, specifi-
cations and surveys; the cost of estimates of construction costs and
of revenues and other expenses necessary or incidental to determinirg `t• '''.
the feasibility or practicability of the construction and acquisition
and the financing authorized hereby, and such other expenses as may s.
be necessary, convenient or incidental to the financing authorized
hereby, the construction and acquisition of said bridge across
Little Pass and the placing of said bridge across Little Pass in ±
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operation. '.
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Section 1.03. ORDINANCE TO CONSTITUTE CONTRACT. In con- '
sideration of the acceptance of the Bonds authorized to be issued
hereunder by those who shall hold the same from time to time, this
ordinance shall be deemed to be and shall constitute a contract be-
tween the City of Clearwater and such Bondholders, and the covenants
- 3 -
Ord:. 879
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rand agreements herein set forth to be performed by said City shall
be for the equal benefit, protection and security of the legal hold-
ers of any and all of such Bonds and the coupons attached thereto,
all of which shall be of equal rank and without preference, priority
or distinction of any of the Bonds or coupons over any other thereof
except as expressly provided therein and herein.
Section 1.04. DEFINITIONS. The following terms shall have
the following meanings in this ordinance unless the text otherwise
expressly requires:
(a) "City" shall mean, the City of Clearwater, in the County
of Pinellas, State of Florida.
(b) "Act" shall mean Chapter 159, Florida Statutes, and
other applicable Pzovisions of law.
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(c) "Bonds" shall mean the $1,500,000 Bridge Revenue Bonds,
originally authorized to be issued pursuant to this ordinance, together
with any pari passe additional bonds hereafter issued pursuant to sub-
section 3.04 (L) hereof, and the interest coupons attached to said
Bonds.
(d) "Holder of Bonds" or 'Bondholder", or any similar term,
shall mean any person who shall be the bearer or owner of any out-
standing Bond or Bonds registered to bearer or not registered, or the
registered owner of any outstanding Bond or Bonds which shall at the
time be registered other than to bearer, or Qf any coupons represent-
ing interest accrued or to accrue on said Bonds.
(e) "Bridge" shall mean the bridge across Little Pass, be-
tween the southernmost point of Clearwater Beach and Sand Key in Pinellas
County, Florida, constructed and acquired pursuant to this ordinance,
and all parts thereof, said bridge being part of a proposed Causeway
and Bridge Project between Clearwater Beach, Florida, and Belleair Beach,
Florida.
(f) "Revenues" or "gross revenues" shall mean all tolls,
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charges or other income from any sources received by the City or
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accrued to the City,.from the ownership and operation of said Bridge,
and all parts thereof, all as calculated in accordance with mound
accounting practice.
(g) "Operating Expenses" shall mean the current,expensou,
paid or accrued, of operation, maintenance and repair of said Bridge
and shall include, without limiting the generality of the foregoing,
labor, materials, insurance premiums, administrative expanses relating
solely to said Bridge, and charges for the accumulation of appropriate
reserves not annually recurrent but which are such as may roaconably
be expected to be incurred in accordance with sound 'accounting practice.
"Operating Expenses" shall not include any allowance for dopraeiati,on
of said Bridge or for the renewal and replacement of capital assets
of said Bridge.
(h) "Net Revenues" shall mean "Revenues", as defined in
subsection (f) above, after deduction therefrom of "Operating Expenses",
as defined in subsection (g) above,
(i) For the purpose of this ordinance "Fiscal Year" shall
mean the period commencing on November 1 and continuing to and including
the next succeeding October 31.
(j) Words importing singular number shall include the plural
number in each case and vice versa, and words importing persons shall
include firms and corporations.
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Ord. 879
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ARTICLE 11
AUTHORIZATION, TERMS EXECUTTON
REGISTRATION AND ISSUNCE OF BONGS
Section 2.01. AUTHORIZATION OF BONDS. Subject and pursuant
to the provisions of this ordinance, Bonds of tho City of Clearwater
to be known as "Bridge Revenue Bonds" are hereby authorized to be
issued in the aggregate principal amount of not exceeding One Million
Five Hundred Thousand Dollars ($1,500,000) for the purpose of financing
the cost of the construction of sai
d Bridge as provided in Section 1.02
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(G) of this ordinance. ;;#;wne=4d'{yz.;
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Section 2.02. DESCRIPTION OF BONDS. The Bonds shall be dated
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November 1, 1960; shall be numbered from 1 to 1,500, both inclusive;
shall be in the denomination of $1,000 each, shall bear interest at a
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rate or rates not to exceed five per centum (5%) per annum, payable
semi-annually on May 1 and November 1 of each year, and shall all .i
mature on November 1, 2000.
All of said Bonds are subject to redemption, at the option ,s
of the City, in whole, from any moneys made available for such purpose, f?
at any time on and after November 1 1970, at a
price of par and accrued ?
interest to the date of redemption plus the following premiums if re-
deemed in the following periods:
November 1, 1970, to Nove'.
From November 2, 1975, to
thereof.
From November 2, 1980, to
thereof.
From November 2, 1985, to
thereof.
And thereafter, but prior
nber 1 1975, at 57. of the par value thereof.
NovomLor 1, 1980, at 47. of the par value
November 1, 1985, at 3% of the par value
November 1, 1990, at 27. of the par value
to maturity, at 17„ of the par value thereof.
All of said Bonds are further subject to redemption, at the option of
the City, in part, on November 11 1065, or on any interest payment date
thereafter, by lot, from moneys in the Bond Redemption Account herein-
after created available for such purpose, at the price of par and ac-
crued interest to the data of redemption, plus the following premiums
if redeemed in the following periods:
November 1, 3970, to November 1, 1975, at 57. of the par value thereof.
May l; 1976-to November 1 -1980 at 47. of the par value thereof.
May 1; 1981; to November 1, 1986; at 37, of the par value thereof.
May 1, 1986; to November 1, 1990, at 27. of the par value thereof.
And thereafter, but prior to maturity, at 17. of the par value thereof.
6
Ord. 879
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A notice of any such redemption shall be publiahod by the -
City at least once not less than thirty (30) days prior to the rudomp-
tion date in a newspaper or financial Journal published in tho City of
New York, New York.
Said Bonds shall be issued in coupon form; shall be payabla
with respect to both principal and interest at the Chase Manhattan Bank,
New York City, New York, or at Bank of Clearwater, in the City of
Clearwater.. Florida, at the option of the holder, in lawful money
of the United States of America, and shall bear interest from their
date, payable in accordance with and upon surrender of tho appurtenant
interest coupons as they severally mature.
Section 2.03. EXECUTION OF BONDS AND COUPONS. Said Bonds
shall be executed in the name of the City by the City Clerk and City
Manager and shall be countersigned by the Mayor-'Commissioner of the
City and shall have impressed, imprinted or reproduced thereon, the
corporate seal of the City or a facsimile thereof, and said Bonds shall
be approved as to form and correctness by the City Attorney. The fac-
simile signatures of said City Clerk, City Manager, Mayor-Commissioner
and City Attorney may be imprinted or reproduced on said Bonds, pro-
vided that either the City Clerk, City Manager or Mayor-Commissioner
shall manually apply his signature on said Bonds. In case any one or
more of the officers who shall have signed or sealed any of the Bonds
shall cease to be such officer of the City before the Bonds so signed
and sealed have been actually sold and delivered, such Bonds may never-
theless be sold and delivered as herein provided and may be issued as
if the person who signed or sealed such Bonds had not ceased to hold
such office. Any Bond may be signed and sealed on behalf of the City
by such person as at the actual time of the execution of such Bond
shall hold the proper office in the City, although at the date of such
Bonds such person may not have held such office or may not have been so
authorized.
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The coupons to be attached to the Bonds shall be authenti-
cated with the facsimile signatures of the present or any future City
Clerk, City Manager and Mayor-Commissionor of said City and the City
may adopt and use for that purpose the facsimile signature of any
person who shall have been such City Clerk or City Manager or Mayor-
Commissioner at any time on or after the date of the Bonds, notwith-
standing that he may have ceased to be such officer at the time when
such Bonds shall be actually sold and delivered.
Section 2.04. NEGOTIABILITY AND REGISTRATION, The Bonds
shall be, and have all the qualities and incidents of, negotiable
instruments under the law merchant and the Negotiable Instruments Law
of the State of Florida, and each successive holder, in accepting any
of said Bonds or the coupons appertaining thereto, shall be conclusively
deemed to have agreed that such Bonds shall be and have all the qualities
and incidents of negotiable instruments under the law merchant and the
Negotiable Instruments Law of the State of Florida, and each successive
holder shall further be conclusively deemed to have agreed that said
Bonds shall be incontestable in the hands of a bona fide holder for
value in the manner provided hereinafter in the form of said Bonds.
The Bonds may be registered at the option of the holder as
to principal only, or as to both principal and interest at the office
of the City Treasurer, as Registrar, or such other Registrar as may
hereafter be legally appointed, such registration to be noted on the
back of said Bonds in the space provided therefor. After such regis-
tration as to principal only, or both principal and interest, no
transfer of the Bonds shall be valid unless made at said office by the
registered owner, or by his duly authorized agent or representative
and similarly noted on the Bonds, but the Bonds may be discharged from
registration by being in like manner transferred to bearer and'there-
upon transferability by delivery shall be restored. At the option of
the holder, the Bonds may thereafter again from time to time be regis-
tered or transferred to bearer as before. Such registration as to
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Ord. 479.
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principal only shall not affect the negotiability of the coupons
which shall continue to pass by delivery.
Section 2.05. BONDS MUTILATED, DESTROYED, STOLEN OR LOST.
In case any Bond shall become mutilated or be destroyed, stolen or
lost, the City may in its discretion issue and deliver a new Bond with
all unmatured coupons attached of like tenor as the Bond and attached
coupons, if any, so mutilated, destroyed, stolen or lost, in exchange
and substitution for such mutilated Bond, upon surrender and cancella-
tion of such mutilated Bond and attached coupons, if any, or in lieu
of and substitution for the Bond and attached coupons, if any, destroyed,
stolen or lost, and upon the holder furnishing the City proof of his
ownership thereof and satisfactory indemnity and complying with such
other reasonable regulations and conditions as the City may prescribe
and paying such expenses as the City may incur. All Bonds and coupons
so surrendered shall be cancelled by the City Clerk and held for the
account of the City. If any such Bond or coupon shall have matured
or be about to mature, instead of issuing a substituted Bond or coupon,
the City may pay the same) upon being indemnified as aforesaid, and
if such Bond or coupon be lost, stolen or destroyed, without surrender
thereof.
Any such duplicate Bonds and coupons issued pursuant to
this section shall constitute original, additional contractual obliga-
tions on the part of the City, whether or not the lost, stolen or des-
troyed Bonds or coupons be at any time found by anyone, and such dup-
licate Bonds or coupons shall be entitled to equal and proportionate
benefits and rights as to lien and source and security for payment
from the revenues of said Bridge with all other Bonds and coupons
issued hereunder.
Section 2.06. FORM OF BONDS AND COUPONS. The text of the
Bonds and coupons shall be 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 sub-
sequent ordinance adopted prior to the issuance thereof:
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No.
; UNITED STATES OF AMERICA $
. STATE OF FLORIDA
COUNTY OF PINELLAS
CITY OF CLEARWATER
BRIDGE REVENUE BONDS
1.
KNOW ALL MEN BY THESE PRESENTS, that the City of Clearwater,
Florida, for value received, hereby promises to pay to bearer, or if
this Bond be registered, to the registered holder hereof, solely from
the special fund provided therefor as hereinafter set forth,•the
principal sum of
ONE THOUSAND DOLLARS ($1,000.00)
on November 11 20001 and to pay from such special fund interest on
said principal sum from the date hereof until paid, semi-annually on
May 1 and November l of each year, at the rate of
per centum ( 9a) per annum, both principal and
interest being payable in lawful money of the United States of America
at the Chase Manhattan Bank, New York City, New York, or at Bank of
Clearwater, in the City of Clearwater, Florida, at the option of the
holder.
This Bond is one of an authorized issue of Bonds of like
date, tenor and effect, except as to number (and interest rate) in
the aggregate principal amount of not exceeding One Million Five
Hundred Thousand Dollars ($1,500,000) issued pursuant to and in full
compliance with the Constitution and Statutes of the State of Florida,
including Chapter 159, Florida Statutes, and an ordinance duly adopted
by the City Commission of said City on the 18th day of October, 1960,
(hereinafter referred to as "Ordinance") for the purpose of financing
the cost of construction and acquisition of a bridge across Little Pass
from the southernmost point of Clearwater Beach to Sand Key in Pinellas
County, Florida, (herein referred to as "Bridge").
All of said Bonds are subject to redemption, at the option
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of the City, in whole, from any moneys made available for such purpose,
at any time on and after November 1, 1970, at a price of par and ac-
crued interest to the date of redemption plus the following premiums
if redeemed in the following periods.
- 10 -
0rd. 879
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November 1, 1970, to November 1, 1975, at 5% of the par value thereof.
From November 2, 1975, to November 1, 1980, at 41, of the par value
thereof.
From November 2, 1980, to November. 1, 1985, at 3% of the par value
thereof.
From November 2, 1985, to November 1, 1990, at 21. of the par value
thereof.
And thereafter, but prior to maturity, at 11. of the par value thereof.
All of said Bonds are further subject to redemption, at
the option of the City, in part, on November 1, 1965, or on any interest
payment date thereafter, by lot, from moneys in the Bond Redemption
Account created by the Ordinance, available for such purpose, at the
price of par and accrued interest to the date of redemption, plus the
following premiums if redeemed in the following periods;
November 1,•1970, to November 10•1975, at 5% of the par value thereof.
May 1; 1976; to November 1; 1980, at 47. of the par value thereof.
May l; 19811 to November 1- 1985; at 31. of the par value thereof.
May 1, 1986; to November 1, 1990, at 2% of the par value thereof.
And thereafter, but prior to maturity, at 1% of the par value thereof.
In the event that the City elects to redeem any of said
Bonds, notice of intention to redeem shall be given by publication of
an appropriate notice at least once not less than thirty (30) days
before the date fixed for redemption in a newspaper or financial
journal published in the City of New York, New York.
The principal of and interest on this Bond and all other
Bonds of the issue of which it is a part are payable solely from and
secured by a first lien on and pledge of the net revenues derived
from the operation of the Bridge in the manner provided in the Ordi-
nance authorizing the issuance of this Bond and all other Bonds of
the issue of which it is a part.
This Bond does not constitute an indebtedness of the City
of Clearwater within the meaning of any constitutional, statutory or
charter provision or limitation, and it is expressly agreed by the
holder of this Bond that such holder shall never have the right to
require or compel the exercise of the taxing power of said City for
the payment of the principal of and interest on this Bond or the
making of.'any sinking fund, reserve or other payments provided for
in the Ordinance authorizing this issue of Bonds. It is further
agreed between the City of Clearwater and the holder of this Bond
that this Bond,and the obligation evidenced thereby shall not be or
..Ord., 879
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constitute a charge,,-lien or encumbrance, legal or equitable, upon
said Bridge, or,any part thereof, or on any other property of or in
the City of Clearwater, but shall constitute a lien only on the net '
revenues derived from the operation of said Bridge in the manner pro-
vided in said Ordinance.
The City in said Ordinance has covenanted and agreed with
the holders of the Bonds of this issue to establish, maintain and
collect such tolls or other charges for the use of said Bridge, and
all parts thereof, 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 shall become due, the neces-
sary expenses of operating and maintaining said Bridge, the principal
of and interest on said Bonds, and all sinking fund, reserve or other
payments provided for in said Ordinance, and that such tolls or other
charges shall not be reduced so as to be insufficient to provide
revenues adequate for such purposes, and said City has entered into
certain further covenants with the holders of the Bonds of this issue
for the terms of which reference is made to said Ordinance.
It is hereby certified and recited that all acts, conditions
and things required to exist, to happen and be performed precedent to
and in the issuance of this Bond, exist, have happened and have been
performed in regular and due form and time as required by the Consti-
tution and Statutes of the State of Florida, and that the issuance of
this Bond, and of the issue of Bonds of which this Bond is one, does
not violate any constitutional, statutory or charter limitation or
provision.
This Bond, and the coupons appertaining hereto, is, and has
all the qualities and incidents of a negotiable instrument under the
law merchant and the Negotiable Instruments Law of the State of
Florida, and the original holder and each successive holder of this
Bond, or of the coupons appertaining hereto, shall be conclusively
12 -
Ord. 879
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deemed by his acceptance hereof to have agreed that this bond and
the coupons appertaining hereto shall be and have all the qualities
and incidents of negotiable instruments under the law merchant and
the Negotiable Instruments Law of the State of Florida. The original ?•.
holder' and each successive holder 'of this Bond, and of the coupons `, ` ;:' , ¦
appertaining hereto, shall be conclusively deemed to have agreed and
consented to the following t }?,;}`?Z?%??i??1???R?•i,?•T?-.
erms and conditions: (a) Title to this Bond, unless registered as herein pro- }?? '°; •'?$
vided, and to the annexed interest coupons, may be transferred by
delivery in the manner
provided for negotiable instruments payable
to bearer in the law merchant and the Negotiable Instruments Law of
the State of Florida. `l
(b) Any person in possession of this Bond, unless regis-
tered as herein provided, or of the interest coupons hereunto apper-
taining, regardless of the manner in which he shall have acquired
possession, is hereby authorized to represent himself as the absolute
owner thereof, and is hereby granted power to transfer absolute title
hereto by delivery hereof to a bona fade purchaser, that is, to any-
one who shall purchase the same for value (present or antecedent)
without notice of prior defenses or equities or claims of ownership
enforceable against his transferror; every prior taker or owner of
this Bond, 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
(c) The City of Clearwater may treat the bearer of this
Bond, unless registered as herein provided, or of the interest coupons
hereunto appertaining, as the absolute owner hereof for all purposes
without being affected by any notice to the contrary.
This Bond may be registered as to principal only, or as to
principal and interest in accordance with the provisisions endorsed
hereon.
- 13 -
Ord. 879
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IN WITNESS WHEREOF said
City of Clearwater, Florida, .
has
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issued this Bond and has caused the
same to be executed by the manual .
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or facsimilesignatures o t y Clerk and City Manager
counter- '
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signed by the manual or facsimile signature of its Mayor-Commissioner, ? ;?:t`•?. ;:."';. .:{'.,. ,
and approved as to form and correctness b its City Attorney b his v•?' ' ='•'-?''?x a
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manual or facsimile signature and its corporate seal, or a facsimile ,'u,
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r;?'?:.`{h `, ••3.f i*'
thereof, to be affixed hereto or imprinted or reproduced hereon and
has caused 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 November, 1960.
CITY OF CLEARWATER, FLORIDA
Hy, y Clerk
By, y Manager
Countersigned:
Mayor-Comm ss oner
Approved as to form and
correctness:
i7ity Attorney
- 14 -
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Ord. 879
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W? r7T i,?t? {`?Y?,. ',:.' ft,. 1 r•, t .. ,.?.t. ?:'? t: :,?. '°_? ,e..?s.. ?, yY,? .5? ?h:.t
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FORM OF COUPON
Nor
On the lst day of 19 * the City of Clear-
water, Florida, will pay to the bearer at tho Chase Manhattan Bank,
New York City, New York, or at Bank of Clearwater, in the City of
Clearwater, Florida, at the option of the holder, from the revenues
described in the Bond to which this coupon is attached the sum of
Dollars ($ ? in lawful
money of the United States of America, upon presentation and surrender
of this coupon, being six months interest due that day on its Bridge
Revenue Band, dated November 11 1960, No. ,
CITY OF CLEARWATER, FLORIDA
By
y er
By
y Manager
By:
ayor- Commissioner
{* To be-inserted in coupons becoming due on May 1, 1966, and there- )
{ after, on all bonds; )
( "unless the Bond to which this coupon is attached shall have been )
( duly called for prior redemption and payment thereof duly provided )
l for,
(VALIDATION CERTIFICATE)
This Bond is one of a series of Bonds which were validated
and confirmed by decree of the Circuit Court of the Sixth Judicial
Circuit of the State of Florida, in and for Pinellas County, rendered
on the day of 19
CITY OF CLEARWATER, FLORIDA
BY
City Clerk
BY
-•F t..??.,?..`?'.rc.T1:'4KYL4i ?rK"'il?lrfeJ ?l I
,4sy*?`y't?cw,?:r? .n" -".-r° i"`"• ?, '?: .x i. ;?. .;,," S: "? ?kny-s,?..?w:`..,..? T-r.??yr,?-.
i k. '?'?',;K r•=7?3r?:i `n :..,?' ,?.t a'n'' ?: 'f? •). }lS.Aa, ?.?. ...h Sr.k ????Y.£ '?
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(PROVISION FOR REGISTRATION)
G
This Bond may be registered in the name of the holder on
the bonds to be kept 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 shall be valid un-
less 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
registered as before. The registration of this Bond as to principal
shall not restrain the negotiability of the coupons by delivery
merely but the coupons may be surrendered and the interest made pay-
able only to the registered holder, in which event the Registrar shall
note in the registration blank below that this Bond is registered as
to interest as well as principal and thereafter the interest will be
remitted by mail to the registered holder. With the consent of the
holder and of the City of Clearwater, this Bond, when converted into
a Bond registered as to both principal and interest, may be reconverted
into a coupon Bond and again converted into a Bond registered as to
both principal and interest as hereinabove provided. Upon reconversion
of this Bond, when registered as to principal and interest, into a
coupon Bond, coupons representing the interest to accrue upon the Bond
to date of maturity shall be attached hereto by the Registrar and the
Registrar shall note in the registration blank below whether the Bond
is registered as to principal only or payable to bearer.
Date o In WHo8e Name Manner of Signature of
Registration Registered Registration: Registrar
.Ord. 879 - 16 -
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ARTICLE III
REVENUES AND APPLICATION THEREOF
}sk
Section 3.01. BONDS NOT TO BE INDEBTEDNESS OF THE CITY.
Neither the Bonds nor coupons shall be or constitute an indebtedness
of the City of Clearwater but shall be payable solely from the net
:revenues of said Bridge as herein provided. No holder or holders of
any Bonds issued hereunder, or of any coupon appertaining thereto,
shall ever have the right to compel the exercise of the ad valorem
taxing power of the City or taxation in any form of any real property
therein, to pay said Bonds or the interest thereon, or to enforce
payment of such principal and interest from any other funds except
the net revenues of said Bridge as provided herein.
Section 3.02. BONDS SECURED BY PLEDGE OF NET REVENUES.
The payment of the debt: service of all of the Bonds issued hereunder
shall be secured forthwith equally and ratably by a first lien on
and pledge of the net revenues derived from the ownership and op-
eration of said Bridge. The net revenues derived from the ownership
and operation of said Bridge, in an amount sufficient to pay the
principal of and interest on the Bonds herein authorized, and to make
the payments into the reserve and sinking funds and all other payments
provided for in this ordinance, are hereby irrevocably pledged to the
payment of the principal of and interest on the Bonds herein authorized
as the same mature and become due.
Section 3.03. APPLICATION OF BOND PROCEEDS. The proceeds,
including accrued interest and premium, if any, received from the
sale of any or all of the Bonds shall be applied by the City, sim-
ultaneously with the delivery of any or all of the Bonds to the pur-
chaser thereof, as follows:
(A) The accrued interest, if any, received, from the sale
of the Bonds shall be deposited in the Interest Account in the Sinking
Fund hereinafter created and provided for and used only for the purpose
Ord. 879
,MVV ly i.:Sw;e jr.,yl"`ifx.YJii
',:`fX?;L•?.?d";ri;,e?eii`?,?.?*??xk??'r?-r?;??";?':,il"?'?Y,A •r; ?u-;r,?-r.a`?.' vY'al#1' ;Mr., g3?h;.?,! :3 `(+r. q ?'•i L?' •' h,`:?.• :,r
??,.,; ? `„ ? ? .,?., . •."..• ., r .r5?r ;stir it•ir ,
?y 't, '?L(;. r}?,?. sir: '..5' .. >,.•. .
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(B) The remainder of the proceeds shall be deposited by
the City in a trust fund to be known as the "Little Pass Bridge Construc-
tion Trust Fund" (hereinafter referred to as "Construction Trust Fund"),
which is hereby created, to be held by an incorporated bank or trust
t s'
company in the City of Clearwater, Florida, as Trustee. The City and
•? ?,l,?A ?. '.'h? ?t??-lei w?jx?: said Trustee shall hereafter enter into a Construction Trust Fund
,'..; Agreement concerning the application of said funds, which agreement
i a shall be in such form as is hereafter determined by resolution of the
City Commission; provided, however, that such agreement shall provide,
among other things, that such proceeds shall be used only for the pur-
pose of paying the cost of the construction and acquisition of the
Bridge as set forth in Section 1.02 (G) hereof and that no expenditures
shall be made from said Construction Trust Fund, except for engineer-
ing and legal expenses, expenses for financial or fiscal services,
interest on the Bonds prior to, during and for one year after the
completion and placing in operation of said Bridge and expenses in
connection with the issuance and sale of the Bonds, unless such ex-
penditures shall first be approved by the Consulting Engineers by
means of a certificate filed with the Trustee certifying that such
withdrawals are proper and are for purposes authorized by this ordi•-
nano e.
If for any reason such proceeds, or any part thereof, are
not necessary for, or are not applied to such purposes, then such un-
applied proceeds shall be deposited by the City in the Reserve Account
in the Sinking Fund hereinafter established, and shall be used only as
provided therein for said Reserve Account. All such proceeds shall be
and constitute a trust fund for such purposes and there is hereby
created a lien upon such moneys, until so applied, in favor of the
holders of the Bonds issued pursuant to this ordinance. Such proceeds
may, pending their use for the purposes provided in this ordinance,
be temporarily invested in direct obligations of the United States'of
America maturing not later than the date on which such moneys will be
- -
Ord'. '879 18
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.11
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.{? ?iKwmMii+?+erwt!rreri?r?sr?lre:•...-..? y .:...,'s,'.,,?,'__ ?_ ,.. w ... i +
r a. -[ <?'F,•. '795 - fy'Ln'!?y
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' ,, .; •. '+r -; ??, :.^Y?. r. ;eft .i. ?..
???' i 1' Simi' • `. f r5 ..,?'•fe y, '.t f.•F':.. i::.,N??j'fS''•? !
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needed for the purposes hereof as estimated by the Consulting Engineers,.
Section 3.04. COVENANTS OF THE CITY. So long as any of
the Bonds, or interest thereon, shall remain outstanding and unpaid,
or until there shall have been set apart in the Sinking Fund, includ-
ing the Reserve Account therein, hereinafter established, a sum suffi-
cient to pay, at maturity, or redeem prior to maturity, the entire
principal of the Bonds then remaining unpaid, together with interest
accrued and to accrue thereon, the City covenants with the holders of
any and all of the Bonds issued pursuant to this ordinance as follows:
(A) RATES. That the City will fix, establish, maintain
and collect such tolls and other charges for the use of said Bridge
and its facilities and revise the same from time to time whenever nec-
essary, as will always provide revenues sufficient to pay, in the manner
specified in this Section 3.04, and out of said revenues shall pay, as
the same shall become due, the principal of and interest on the Bonds
and all reserve and sinking fund payments provided for in this ordinance
in addition to paying the necessary expenses of operating and maintain-
ing said Bridge as the same shall become due, and all other payments
provided for in this ordinance, and that such tolls and other charges
shall not be reduced so as to be insufficient to provide adequate
revenues for such purposes.
The initial schedule of rates of tolls and other charges
for the use of said Bridge and its facilities shall be as follows:
Vehicle Toll Class Description: Toll
Two-Axle Vehicles - $0.25
Passenger Cars, Pickup
and Panel Trucks, Single
Unit 4-Tire and 6-Tire
Trucks, Motorcycles and
Motorbikes
Three-Axle Vehicles - - $0.45
Single Unit Trucks, Semi-
Trailer Combinations, and
Two-Axle Vehicles with
Single Axle Trailers.
Ord. 879
- 19 -
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+ '. }."„•jet??r? ;'r ?=i`.? ? t ~?' ,. •1' If. <<'n' .r .?'e'(.?1?2J•r. .,? 4?5
i,' y '.L''a ?t;71';?.??. .?.}+fi5,' I li 1-? °' 'f': ?,.s' S ,5 ..*I' rt ? ? .. i'S? f t? :Y.,?.;h {'
? L??}r.?, ? ???,.?, ?,s? • rf: s::d `.r' ;?. ?'t? '; ? ?'y;;'- ` s,- 't . yap',*:
. •3 Iau1 ;:yy?? ;f, 1• -??i.'f?• EFL-??r•§..,.r? .1•" :?• ? .. 'E? `.:
a •,.?i,F X1.1 '{'ra,'??i»",e d" t 'J,• , "s` 'y-•"1i
??t•' f?j,.j:.Y. `f; ?: r. 1. ?'y? n?r?• , ,
Four-Axle Vehicles
Secai-Trailer Combinations
and other Two-Axle Vehicles
with Two-Axle Trailers
Five-Axle Vehicles
Semi-Trailer Combinations
and other Special and Unusual
Vehicles
Buses.(Commercial)
Pedestrians, Bicycles
4
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0.75
1.00
0.15
The rates of tolls and other charges for said Bridge and its fa-
cilities shall never be reduced at any time except under the following
terms and conditions:
(a) The City shall have duly made all payments required for
principal and interest on said Bonds, and all other payments required by
this ordinance including any deficiencies in prior required payments, to
the time of such reduction in such rates of tolls and other charges.
(b) The City shall not then be in default under any of the cov-
enants or agreements contained in this ordinance.
(c) There is then on deposit in the Reserve Account in the
Sinking Fund, hereinafter created, the sum of One Hundred Fifty Thousand
Dollars 0150,000).
(d) The Consulting Engineers shall certify that the net reve-
nues to be derived in the then current and in each succeeding year, after
giving effect to such reduced rates of tolls and other charges, will be
greater than the net revenues derived from said Bridge in the year imme-
diately preceding the date of such reduction in such tolls and other
charges, and will be sufficient in each future year to produce net reve-
nues equal to one hundred fifty per centum (150%) of the average annual
amount of Amortization Installments and interest which will mature there-
after on all Bonds issued hereunder, including any pari passu additional
Bonds, if any.
(B) BRIDGE REVENUE FUND. That the entire gross revenues de-
rived from the ownership and operation of said Bridge shall be deposited
daily in a special fund with Bank of Clearwater, Clearwater, Florida, as
Trustee, which fund is hereby designated as the "Bridge Revenue Fund."
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Ord. ..879
9
riot ?rifww? ,?,nmq?vv,?? wxY? n > ifj«? _z•b:":.".?. 7.E '?
f e K'iypv'.:?:r rls?,js.y1,? ?!."• ::ice . ` z"c? .' >1'.I', . , , ,
>w-.r ?^k?' i"??"'?"t??'"'?:?3 ?tF;'n m?,fP.., :.F;°1?. ;1i-•?:?:..`i ??.,. ''SS ? ?4'.`• ..
4 ::? > it •!. 4.:
.I,
may,
A)
I•
J. ?? • . as 4 ' §, .?a ?". ' ? cis.?a4? v' '!tie ••'l«t?(,?7? ?}? T•"''t .F•'.` t . e?k`$? ? ` t.,
e?`?sL S? ?''l"?M7,}•??ii`"w`}'?e ?r?ri:57wXC?.".S'G.;If L'?i?:l6j ?T-'Y'ad?
+ f . i"F.r 3 Vie, +u1 L ii i
`tai 3?• Yrj}? ? %i
Said Bridge Revenue Fund shall constitute a trust fund for the purposes
be kept separate and distinct from
ordinance and shall d d
provided in this
•
n '
" `.
all other funds of the City and used only for the purposes and in the man- a ::,-•
nor provided in subsection (C) of this section 3.04.
(C) DISPOSITION OF REVENUES. That all revenues at any time re-
maining on deposit in said Bridge Revenue Fund shall be disposed of only
ti
V, pal
in the following manner and order of priority:
4E'?i !t (1) Revenues shall first be used for the payment of all cur-
• 7''?; .?3Cy?? r? hi ?„y?` ,' Vii:.. .: ,,`•; .- .' ,?,.''? 7.
Operating Expenses ?;„t;?,':;,'?+;6;.',`?:' ,.•. :;,.
rent
i.a s? L4 1' g' I, l'dirA7(' K•3?•?3' It
2) Revenues remaining on deposit in the Bridge Revenue F
und ;•• :. t„' r
+y? ?}r?=+?k?? i?
t «,?'??x.i'?7';?• r?yy>•3?x?Y3'SO'i,r: .
h?:?a,+,ar:J?F°';,'`!'??.?: -?:.'!. ??rr?•„ti:?,?y'sp'+YT •?,'`'. .?iy...:`: r
shall next be used for deposit in a fund to be known as the "Sinking r??;•t'?? ??s?a?; ??+'i;"+? '???i;
'+I ; M?r,YtDTI, 1+3+t??..: , -+ 'S rG
`''': ??' 1;•L`??.i ° i(?y? Dili f"' ,:,t?+ L 4 }`Y' , ' ?? a"'d''
Fund " which is hereby created and established as follows: F ? ?I
??'T>> (a) There shall first be de•;osited in an account in said Sink-;
?t ing Fund to be known as the "Interest Account,}i which is hereby created
and established, on the fifteenth (15th) day of each month in each his-
le
jag
;? • ''' cal year, beginning with the fifteenth (15th) day of the first full month
vW ...
following the date on which all or any part of the Bridge is completed
and placed in operation, an amount equal to one-sixth (1/6) of the inter-
est which will mature and become due on said Bonds on the next semi-annual,
interest payment date; provided, however, that interest on said Bonds ac-
cruing prior to and during and for one year after the completion and,
Placing in operation of said Bridge may be paid from the Con a
struction "v
?• ; f°`s "k.
Trust Fund to the extent that the revenues derived from said Bride are
r+l ?' , insufficient therefor.'
a'
(b) There shall next be deposited in an account in said Sink- ?.za°?'
ing Fund to be known as the "Reserve Account," which is hereby created { ? . w
s'?± and established, on the fifteenth day of each month in each fiscal year,
'
s
}y}!?-Y s.i? s?i
beginning with the fifteenth (15th) day of the first full month fallow-
ing the date on which all or any part of the Bridge is placed in opera- M,4
4117??H "F I.? ? ?f r•i
tion, an amount equal to one-twelfth of twenty per centum (I /L2 of 20 o?::. •?'`
of One Hundred Fifty Thousand Dollars ($150,000). Any withdrawals from the Reserve Account shall be subsequently
restored from the first revenues available therefor after all current'
-21-
Ord. 879
All
.?yq? .heR ? ".:1 ,+5;"."Y 'r;. !'a•Mra4:- ,.w.?. .. ..r,..s, , r..i,i?.». -.n. ..in+«ass..,, w!:s•y Y!.h.+i?.!??'n, »+[ _?s,y„-t .+F r
r '•+s;C?'.° ++s.,y_7? ;?r,k. „*'r: +? r1-? .oK•a':a,Sti': . . s , yr:4•? ;3+?;r~; _.9
F.?a[ee'3??r?`; ?:, e _ .C,; •;1• 't(,'Y',
S y?i??e?`1:4???Si lyr Yy;.y??4?,.f ?`i?4y .`s; ?}V: i r - ,' •?:
S • l f
wtw•bCwt'![1tfLt ?Yl?.. n•'nbr 'vr r ?. . 'i r•'--? ?i ••+ _ -- • _ - ._ __ __ __. __ 1,-_? .
t
.
payments pursuant to paragraph (1) and clause (a) of paragraph (2) of
this subsection, including any deficiencies for prior payments, have
been made in full. The City shall not be required to make any further
payments into said Reserve Account when there has been deposited therein
and so long as there shall remain therein a sum equal to One Hundred
Fifty Thousand Dollars ($150,000),
Moneys in the Reserve Account shall be used only for the pur-
pose of the payment of maturing interest on the Bonds to the extent that
funds in the Interest Account are insufficient therefor and for required
Amortization Installments to the extent that Rinds on deposit in the Bond
Redemption Account are insufficient therefor and for no other purpose, ex-
cept that said moneys may be invested and reinvested as provided for here-
in.
The City shall not be required to make any further payments into
the Stinking fund when the aggregate amount of funds on deposit in the va-
rious accounts in said Sinking Fund are at least equal to the aggregate
principal amount of Bonds issued pursuant to this ordinance then out-
standing, plus all interest accrued or to accrue on said outstanding
Bonds, or if said outstanding Bonds shall have been duly called for
p',•:ior redemp':ion and sufficient funds have been irrevocably placed in
trust for all such outstanding Bonds.
(c) There shall next be deposited in an account in said Sink--
ing Fund to be known as the "Bond Redemption Account," which is hereby
created and established, on the fifteenth (15th) day of each month in
each fiscal year, beginning with the fiscal year ending October 31; 1966)
an amount equal to one-twelfth (1/12) of the annual amount stated below
for such fiscal year (herein sometimes referred to as "Amortization In-
stallmentfl) :
-22-
Ord. 879
i.^ .7)7' S F _. i". -
?5 !j. •;r rhr "?+?'{.ir-??, n.Z.,.°;`
i. L'; 'r',:t;'•rt,zitif:;'_tt' •': 'i• '.
1 ?S.f
?f(y Ur
.; •.YL A.r_ t 1 • _ 1'
1,ryP:t7dW ..1..'F' .,Y 7'?
?iyt ^: ,n`t„ •.t,i,??11 .a'ii'_t?•I''?tf'•C:y °r,'L.ip, .. -
FL?[t' ?•?ni t;;.-??: f:, a•}M e.t.. •Flf .
1 , :i: • ''
- ,, •t .,. -, a..,..f{{s..Mis °.•,,-?, •?•.. ::1 •a T.'t„h ,,?•i ?,?'r? r?? ..
's ?5.?'.rt•?'. '., t4: at?,.".?
? ?t lr
?.' i; :
? •y [
.'f. 1.^.'??: 1, r''•ts _+r, ?::,rte\<":b :? 1
t.
Fiscal Year Fiscal Year
Ending Annual Ending' Annual
October 31st Amount, October--31st Amount
1966 $17,000 1984 $42;000
1967 18;000 1985 44,000
1968 113,000 1986 461000
969 19,000 1987 48;000
1970 21;000 1986 51,000
1971 221000 1989 53,000
1972 23,000 1990 56;oao
1973 24,000 1991 513,000
197' z6, 000 1992 61; 000
1975 27,040 1993 65,000
1976 28;o00 1994 68,000
1977 29,000 1995 71,000
1978 31,000 1996 75,000
19?9 32,000 1997 78,000
1980 34,000 1998 42:000
1981 36,000 1999 87;000
1982 37,000 2000 92,000
1983 39,000
The moneys in said Bond Redemption Account shall be used solely
.-or the purchase or redemption of Bonds. The City may at any time pur-
chase any of said Bonds at prices not greater than the then redemption
price of said Bonds or, if the Bonds be not then redeemable prior to ma-
turity, at prices not greater than the redemption price of such Bonds on
the next ensuing redemption date; and the City shall, to the extent of any
moneys in said Bond Redemption recount on the twentieth (20th) day of
August in each year in excess of Ten Thousand Dollars (10,000), be ob-
ligated to use such moneys for the redemption prior to maturity of Bonds
on the next November 1st.
(3) Thereafter revenues shall next be used for deposit in a
trust fund to be known as "Renewal and Replacement round," which is here-
by created and established, and the City shall pay into said fund from
the Bridge Revenue Fund on the fifteenth day of each month, beginning
November 15, 1965, the sum of Eight Hundred Fifty Dollars ($850); pro-
vided, however, that the City shall not be required to make any further
payments into said Renewal and Replacement Fund when there has been de-
posited therein and so long as there shall remain therein the sum of
Fifty Thousand Dollars ($50,000). The funds in said Renewal and Re-
placement Fund shall be used only for the purpose of paying the cost
of capital improvements to or the renewal or replacement of capital as-
sets of said Bridge.
1-:54
? •, ? :{ '?Sy,p,rl.;;. x a+' .'. eat `!. ?,,7:'? i,r t ! ? •? .
'i
•i nts •? .fit` +:;4+
?r",K4}?: ?.ti?. .'?'?n'•i'>('Mi;?': ??',a k;,t'J:'??l ?r?',. <r', a_??"?'? '.7?,; .. '.{ _ '
9
f.ltf tr?!`i`I:gi .i Y'Y i},•-i.r!!
r:, Iyt,'. is
t
y F
? ii
e
t
(4) if on any payment date the revenues are insufficient to
i
place the required amount in ary of the funds or accounts as hereinbe-
fore provided, the deficiency shall be made up in the subsequent pay-
ments in addition to the payments which would otherwise be required to
be made into such funds and accounts on the subsequent payment dates.
(5) Thereafter, any moneys remaining 6n deposit in the Bridgo
Revenue Fund on the twentieth (20th) day of each month, after all current
payments pursuant to paragraphs (1), (2) and (3) of this subsection have ,;
• ,
been made in full on the preceding fifteenth (15th) day of such month, RJ•t•yJ,aE•f; e?: Vii. i '?y .`„ 'I
shall be deemed surplus funds. Such surplus funds shall, on the twenti-
eth (20th) day of each month in which there is a surplus, be transferred € k ` ;
s•.?c..
by the City to and deposited in the Reserve Account in the Sinking Fund;
provided, however, that when there is on deposit in said Reserve Account
f?
and so long as there shall remain on deposit in said Reserve Account a 'F
..,um equal to One Hundred Fifty Thousand Dollars ($150,000), the City ;
:shall, on such twentieth (20th) day of each month, transfer any such
surplus to, and deposit such surplus in, the Bond Redemption Account in i
the Sinking Fund. r
(D) All special funds set up and created by this ordinance
shall constitute trust funds for the purposes provided herein for such
funds. The Renewal and Replacement Fund shall be deposited and main--
tained in a bank or trust company which is eligible under the state {
laws to receive deposits of State and municipal funds. The Bridge Rev-
enue Find, the Sinking Fund, including the Interest ;account, Reserve
;.ccount and Bond Redemption j'xcount therein, shall be deposited with and { • '°
held by the Bank of Clearwater, Clearwater, Florida, as Trustee, under Y
r
f
a trust agreement in such form as shall be determined hereafter by reso-
lution of the governing body of the City. 1.11 of such funds shall be r"
4 ?
continuously secured in the same manner as State and municipal deposits
of funds are required to be secured by the laws of Florida. x
The moneys in the Bridge Revenue Fund shall not be invested
at any time. The moneys in the Sinking Fund (except the Reserve Ac-
count therein) may be invested and reinvested only in direct obligations . ;.
-24-
Ord. 879
Yj .. n_ ??:l y..vi .r. '?'?i?H+ .fv:? 'fJ. ,
{'•I tV •
,
•, .
Jr?-
-'
t5
?.-
¦
a g
? f
of the United States of ILmerica maturing not later than the dates on
which the moneys in the accounts therein will be needed for the pur-
poses of said accounts, but in noevent later than twelve (12) months
after the date of purchase thereof. The moneys in the Reserve Account
in the Sinking Fund and in the Renewal and Replacement Fund may be in-
vested and reinvested only in direct obligations of the United Stated
of America.
E. SIZE OF THE BRIDGE. That said Bridge may be sold, mort-
gaged, '`' '- ` ;•: '°<<,.
' Tj. ;rlQali?', .??ry'ArI.IY- ,r^%'I'1eV•T?,:
leased or otherwise disposed of only as a whole or substantially ,-
'.,if.iLw"•i1QlVVi4y(ff,;i Wi•Y` ?36i• j
as a whole, and only if the net proceeds to be realized shall be fully i? Jt,4i•:,?j;f'?„t?t,,.a,,
sufficient to retire all of 't' :`.;''y 3•. ,?
the Bonds issued pursuant to this ordi-
nance as the same shall mature, and all interest thereon to their re- .'z?' ? _..;?•,•
spective dates of maturity, or prior redemption as such obligations
'!• yr' '?
1 ,
shall mature. The I
proceeds from such sale, mortgage, lease or other ? ? a
disposition of said Bridge shall promptly be deposited in the Bond Re-
demption Account in the Sinking Fund and used only for the purpose of "i
paying the principal of and interest on the Bonds issued pursuant to
this ordinance as the same shall become due or for the purchase of Bonds
at not more than the then redemption price of such Bonds or, if the Bonds
_S
be not then redeemable prior to maturity, at not more than the redemp-
tion price of such Bonds on the next ensuing redemption date or for the
redemption prior to maturity of Bonds in the manner
provided in this or-
dinance.
,
The foregoing provision notwithstanding, the City shall have
>>I
and hereby reserves the right to sell, lease or otherwise dispose of
any of the property comprising a part of said Bridge hereafter deter-
mined in the manner provided herein to be no longer necessary, useful
or profitable in the operation thereof. Prior to any such sale) lease
or other disposition of said property, if the amount to be received ' •''
therefor is not in excess of Twenty-five Thousand Dollars ($25,000), the general manager or other duly authorized officer in charge of such 4F??
Bridge shall make a finding in writing, which shall be filed with the
City Commission, determining that such property comprising a part of such
,?FfiS'`="?????.,•M,?lr•,s^`K?•H;ir!ifl5«,,?,r ??,?. , ..y,.r- t : e ? _ -- ._ - _ ._..._ .__ .. .-. e . , - : z.?:}>.. ?_N..r, rf??+?•, iw•s-'re? ??7T?
'.?;•??'::+ •..5`. c?_?? '?:.eZ,?:= .1 `T', 5?• , t`; °!i ',,??7 .. '? ? ?'. '.}: , I ,? ? •' H?'i? ,.
"sK?t:. ..Y(. fiSyi!'?, ?A?,?i?`..1 ,•?l?;ti;"n 'i ?v '??., ;(r::?;,?. ?y ? ? ? ? . .
4?. ?:' 4}vIFi'l. 'CSC V,'..i?.a?,: •f r ?: ie ? ?''i?• ?l ? - • S ?•:
Bridge is no longer necessary, useful or profitable in the operation
thereof,, and such proceeds shall be deposited in the Renewal and Re-
placement Fund and used only as provided herein for such fund. If the
amount to be received from such sale, lease or other disposition of said
property comprising a part of said Bridge shall be in excess of Twenty-
five Thousand Dollars ($25,000) but not in excess of One Hundred Thou-
sand Dollars ($100,000), the general manager or other duly authorized
officer in charge of such Bridge and the Consulting Engineer, shall first
make a finding in writing, which shali be filed with the City Commission,
determining that such property comprising a part of such Bridge is no
longer necessary, useful or profitable in the operation thereof, and the
City shall, by resolution duly adopted, approve and concur in the find-
ing of the general manager or other duly authorized officer and such
Consulting Engineer, and authorize such sale, lease or other disposi-
tion of said property. The proceeds derived from any such sale, lease
or other disposition of said property, in excess of Twenty-five Thou-
sand Dollars ($25,000) and not in excess of One Hundred Thousand Dol-
lars ($100,000) shall promptly be deposited in the Bond Redemption Ac-
count in the Sinking Fund and used only for the purchase of Bonds at
not more than the then redemption price of such Bonds or, if Bonds be
not then redeemable prior to maturity, at not more than the redemption
prase of such Bonds on the next ensuing redemption date or for the re-
demption prior to maturity of Bonds in the manner provided in this or-
dinance:
No sale, lease or other disposition of all or any of the prop-
erty comprising a part of said Bridge shall be made by the City if the
proceeds to be derived therefrom shall be in excess of One gundred
Thousand Dollars ($100,000) and insufficient to pay all of the princi-
pal of Bonds then outstanding as the same mature and all interest and
premium, if any, thereon to their respective dates of maturity or prior
redemption as the same matures, without the prior approval and consent,
in writing, of the holders, or their authorized representatives, of
sixty-six and two-thirds per centum (66 2/3%) in amount of Bonds then
-26-
Ord. 879
F ?J°Ifxv:?? 1 ?-". X.f
„?il'•'y`IS'K f'FT 3?f'; ?,?N -".' <?' •i,rA? ;. ? nl'' i
c j.
'; ?:; iii ?f ?{i1i? Y£??`?'3 ?<<I.?'4????f'?•"..'
i a
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outstanding. The city shall prepare the form of such approval and con-
sent for execution by Bondholders, or their duly authorized represent-
atives, which form shall provide for the disposition of the proceeds of j
the sale, lease or other disposition of such property comprising a part
of said Bridge. ,
F. ISSUACE OF OTHER OBLIG.,TIONS PAY,&BLE OUT OF REVENUES.
That the City will not issue any other obligations, except upon the con-
ditions and in the manner provided herein, payable from the revenues de-
rived from the operation of said Bridge, nor voluntarily create or cause ??,?5?x,?.•s??:?x?,,.}:,,?r.??r??T.. ;
to be created any debt, lien, pledge, assignment, encumbrance or any .NAM-
X"'
, ?
N'
other charge having priority to or being on a parity with the lien of
the Bonds issued pursuant to this ordinance and the interest thereon" `.?
upon any of the revenues of said Bridge. Lny other obligations issued '
by the City in addition to the Bonds authorized by this ordinance or
pari passu additional Bonds provided for in Section 3.04 (L) hereof, K
s.
shall contain an express statement that such obligations are junior, subor-
dinate and inferior in all respects to the Bonds issued pursuant to this ?
ordinance as to lien on and source and security for payment from the rev-
?a
enues of said Bridge.
G. INSURANCE. That the City will at all times cause said
Bridge, and all parts thereof, to be insured in a responsible insurance q?,!
company or companies against loss or damage by fire, lightning, tornado, •"
wands, earthquake, flood, rising waters, collapse, riot, strike, civil .. r?.
commotion, collision, malicious damage and explosion, all to the extent $t Yhi
insurance is obtainable from time to time against any one or more of such risks and in each case to the greatest amount obtainable, not exceeding -_+
the full insurable value, subject to deduction from such loss or damage -?
N'
(except in case of total loss) of not more than one per centum (1 f) ? ? ? "?' ? 'fir `?-?`•:'.
unless the Consulting Engineer shall approve a higher deduction, not ex-
ceeding ten per centum (10%); provided, however, that the aggregate k N`'
amount of each type of insurance covering the Bridge need not exceed a;
the principal amount of Bonds outstanding from time to time. The pro-
ceeds of any and all such insurance received by the City shall be held
Ord. 879
-27-
S ,h2 ,? ? ?:k"Ya??"'M+i%??.??aJ?,tr`?.; 7?}. r.`};: ??i?r?i i'.'i?. ?4 • `t,?'.l1'•» ' .
S' F.l 7
Ell
by the City as security for the Bonds until paid out as hereinafter pro-
vided.
The City covenants that, promptly after any loss or damage to
said Bridge which is covered by insurance, it will cause plans and speci-
fications forrepairing, reconstructing or replacing the damaged or de-
stroyed property, to be prepared.
The proceeds of all insurance policies, referred to in this sub-
section, shall be available for, and shall to the extent necessary be ap-
plied to, the reconstruction, repair or replacement of the damaged or
destroyed property. If such proceeds are more than sufficient for such
purposes, the balance remaining shall be paid into the Renewal and Re-
placement Fund. If such proceeds shall be insufficient for such purpose,
the deficiency shall be supplied out of any moneys in the Renewal and
Replacement Fund.
The City covenants that, if the cost of repairing, reconstruct-
ing or replacing the damaged or destroyed property shall not exceed the
proceeds of insurance and other moneys available for such repair, recon-
struction or replacement, such repair, reconstruction or replacement of
destroyed property shall be promptly commenced and diligently prosecuted.
The City covenants that it will at all times carry policies
of insurance for the benefit of the holders of the Bonds and the City
in a responsible insurance company or companies against:
(1) Loss, total or partial, of the use and occupancy of said
Bridge, or any part thereof, resulting from any of the causes set forth
in this subsection which will provide an income during the period of
suspension of use equal to the result obtained by multiplying the num-
ber of days in such period of suspension by the amount of the average
daily gross income of said Bridge, in the same month or months of the
preceding calendar year, all to the extent such insurance is obtainable
from time to time. Such insurance, however, may be subject to the de-
t
duction, at the option of the City, of not more than fourteen (14) days
from such period of suspension. The proceeds of the use and occupancy
insurance shall be deposited in the Revenue Fund.
-28-
Ord. ' 879
%e T { 1 cf;? `'ma`r ?•? ,. ?`. ,
al'. +? ik'..\t•.?.1 nit `,,
3
i
y ?? ° . ' ? v :ly'?''4r4 F ?''r :!4'x,:1 `'?;?. ;; `;•.
1
l
.4
R"',
3
is ,_? °:nt:•,?: ;?-,,;, *?z ,:; F
(2) Liability for injuries to persons and property to the
extent deemed necessary by the City'.
H. BOOKS AND RECORDS. That the City will keep books and , . `'.
,
records of the operation of said Bridge which shall be separate and
apart from all other books, records and accounts of the City, in which '
complete and correct entries shall be made of the daily tolls and other '".....r•r
v
revenues collected and of all transactions relating to said Bridge and
.4.
any holder of a Bond or bonds issued pursuant to this ordinance shall 4
have the right at all reasonable times to inspect said Bridge and all
records accounts ="??" Y`y?'?":•it:;•::.
and data of the City relating thereto. ?r?`e;{t
The City shall, not later than twenty (20) days after the ???• .1 ,
last day of the month to which such report relates, prepare a monthly
operating report of said Bridge for the month preceding the month in
which said report is prepared, setting forth in reasonable detail both
an annual' cumulative and a monthly schedule of the gross revenues and
.i
operating expenses and a statement of the number of users of said Bridge
a1
and shall mail such report to the original purchasers of the Bonds and
to any Bondholder requesting that such monthly reports be forwarded to
him.
The City shall, at least once a year, cause the books, rec-
ords and accounts relating to said Bridge to be properly audited by ,
an independent firm of certified public accountants, and shall make
available the report of said certified public accountants at all rea-
sonable times to any holder or holders of Bonds issued pursuant to this
ordinance or any one acting for and in behalf of such Bondholder or
Bondholders and shall mail a copy of such report to the original pur-
chaser of the Bonds. Such audit shall include a certification by such
accountants that they are familiar with the provisions of this ordi-
nance, that the results of such audit do or do not, as the case may ,
be, comply with the provisions hereof and shell include a balance ,f
sheet and income account relating to the Bridge. •
??
I. OPERATION AND MAINTENANCE OF BRIDGE. That the City will
maintain said Bridge in good condition and continuously operate the F
Ord. 879 ,
t_
N,
S II?.,???#4`ti?S?Yf7CSY'r; P,?-"<. .r: •.?,'. .yr_. -,a€ r:r„•
?? ?r?7?s?,4 '??:i?p'^?.[: yi".:'i,.•.i.: ?.', 1. `.f:, _•+.;,', ':re '.s•
Out,
. 16`?
4
811-
same in an efficient and economical manner and at a reasonable cost under
reasonable rules and regulations governing the use of said Bridge and
the operation thereof.
J. CLASSIFICATION OF TOLLS. That all tolls will be classified
in a reasonable way to cover all traffic falling within any reasonable
class, regardless of the status or character oC any person, firm or cor-
poration participating in the traffic, and that no reduced rate of tolls
will be allowed within any such class, except through the use of commutar
Lion or other tickets or privileges for services based upon frequency or
volume, and that no free use of said Bridge, or any part thereof, will be
permitted except to officials or employees of the City while in the dis-
charge of their official duties or to police or fire department officials
and employees when engaged in the proper work of any such department.
K. ANNUAL BUDGETS. That the general manager or other author-
ized officer of the City in charge of said Bridge shall annually, at
least thirty (30) days preceding each of its fiscal years, prepare a de-
tailed budget of the estimated expenditures for operation and maintenance
of said Bridge during such succeeding fiscal year which budget shall first
be approved by the Consulting Ingineer, and shall then be adopted by reso-
lution of the governing body of the City before the same shall become
effective. No expenditures for the operation and maintenance of said
Bridge shall be made in any fiscal year in excess of the amounts provid-
ed therefor in such budget without a written finding and recommendation
by the general manager of said Bridge or other duly authorized officer
in charge thereof, which finding and recommendation shall state in de-
tail the purpose of and necessity for such increased expenditure for
the operation and maintenance of said Bridge and no such increased ex-
penditures shall be made until the governing body of said City and the
Consulting engineer shall have approved such finding and recommendation
by a resolution duly adopted. The City shall make available such budg-
ets and all resolutions authorizing increased expenditures for operation
and maintenance of said Bridge at all reasonable times to any holder or
holders of Bonds issued pursuant to this ordinance or to any one acting
Ei
AW
Ord. 879
7.
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_30-
?;:?.r: "•i: °";3%,?7*'ir
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Y
Y?
111,.^MKYyrE r.'I ? ? - 1 `F ?'.?L rA
a,4
,
for and in behalf of such Bondholder or Bondholders. '
_,•r';<?M ter, V'.
tv'
tf Y,4 f `J
L. ISSUANCE Or PABI PASSU ADDITIONAL BONDS. That no pars passu
additional Bands, an in this subsection defined, payable pari passu with
Bonds issued pursuant to this ordinance out of the revenues of the Bridge
shall be issued after the issuance of any fronds pursuant to this ordi-
?
nance , except upon the conditions and in the-manner herein
provided.
? ,
.
No such pari passu additional Bonds shall be issued except for .
..
rv=
the purpose. of completing said Bridge if the proceeds of the Bonds ini-
tinlly issued hereunder shall be insufficient for such purpose, and only
in the amount certified b th Consulting
by the Engineers as necessary for such +
•?:; ?. ' ?'.`°?;'';;,'???;
purpose, but not in any event exceeding the principal amount of One Hun-
dred Thousand Dollars ($100,000).
;. %.
The term 11pari passu additional Bonds" as used in this subset-
tion shall be deemed to mean additional obligations evidenced by Bonds
3
issued under the provisions and within the limitations of this subsection "
payable from the revenues of the Bridge, pari passu with Bonds originally 'f•}'t
authorized and issued pursuant to this ordinance. Such Bonds shall be y'
deemed to have been issued pursuant to this ordinance the same as the '
Bonds originally authorized and issued pursuant to this ordinance, and
s
all, of the covenants and other provisions of this ordinance (except as .
to details of such Bonds evidencing such pari passu additional obliga- , _.A
tions inconsistent therewith) shall be for the equal benefit, protectio n - n
,
and security of the holders cf any Bonds originally authorized and issued
y. ?Y.
?< • . v;`
pursuant to this ordinance and the holders of any Bonds evidencing addi-
h
tional obligations subsequently issued within the limitations of and in
compliance with this subsection. All of such Bonds, regardless of the s,
;
time or times of their issuance shall rank equally with respect to their ,'
lien on the revenues of such Bridge and their source and security for ?
payment from said revenues, without preference or priority of any of
?° +=""
said Bonds or pari passu additional Bonds, or coupons relating thereto,
over any other thereof.
The term "pari passu additional bonds" as used in this sub-- •a
'
Y
?r
section shall not be deemed to include bonds, notes, certificates or
Ord. 879
-31-
sr.•-ice ,•5•:. !C?! "1? .• :-?'•,. r1;?.aw .rw.,.. ri!t'e' .F?.."rr.`•"-"i •r` !'r
t'. '
t
?'„R",w^"r?c,_`?'C?w. ?i?`"?1-.Ri'Ta?`??"::`; Z??,re-;a: ti?•?•ry3: ?..?.
y???"?'M?•?"q°}'tr,•y"?,?.jy???. l;.:Fi`i."n.. ,; ? •..... :. ,°• 3..?•.G. .'? '° s4, 41. ?? ;. ;
'J?1Lris:. .I s S?'3?.?'.'d 3:% Y'?s!: tir.• . r:au?w.'.'s?,>:. .?i'?r1,: ,:s'? Y%?L'ew :f.'.f:..°;..v's.1.,_f»: ".?? ?3-rca:,.-.s.?a•
V
• ? I
7 _
I .v
other obligations subsequently issued tho lien of which on the revenues
t' 1 of the Bridge is subject to the prior and superior lien on such revenues
of Bonds issued pursuant to this ordinr?ncu and the City shall not issue
-my obligations whatsoever payable from the revenues of the Bridge which
a t s"' rank equally as to lien on and source and security for payment from such
q1.r? i?
revenues with bonds issued pursunnt to this ordinance except in the man-
F.,; ner and under the conditions provided in this subsection.
IJ f ? ?V +"A9 7a M. R54EDIES. Any holder of Bonds or of any coupons appertain-
?. ?- ing thereto, issued under the provisions of this ordinance, or any Trus-
tee acting for such Bondholders in the manner hereinafter provided, may,
? -?' " ar c
IF either at law or in equity, by suit, action, mandamus or other proceed-
.
ing in any court of competent jurisdiction, protect and enforce ony and
all rights under the laws of the State of r'lori.da, or granted and con-
K;
tai.ned in this ordinance, and may enforce and compel the performance of
f=??'" + rA all duties required by this ordinance or by any applicable statutes to
a lj
be performed by the City or by any agency, board or officer thereof, in-
.J xX
eluding the fixing, charging and collecting of tolls and other charges
?, for the use of said Bridge and its facilities.
l.?,
L? y}yy? ??3..;? In the event that default shall be made in the payment of the
?. #. interest on or the principal of any of the Bonds issued pursuant to this
ordinance as the same shall become due or in the making of the payments
into any reserve or sinking fond or any other payments required to be
made by this ordinance or in the event that the City or any agency, board,
?' t 1 ? i? ??ht? •'7 7
officer, agent or employee thereof shall fail or refuse to comply with
the provisions of this ordinance or shall default in any covenant made
+`rr h i. ?.L .:
herein and in the further event that an such default shall continue
for a
period of ninety (90) days, any holder of such Bonds or any Trus-
tee appointed to represent Bondholders as hereinafter
?fir s.• . provided, shall
g be entitled as of right to the appointment of a receiver of said Bridge
n in an appropriate judicial proceeding in a court of competent jurisdiction,
whether or not such holders or Trustee shall also be seeking or shall have
sought to enforce any other right or exercise any other remedy in connec-
tion with Bonds issued pursuant to this ordinance.
,.
Ord. 879 -32-
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;?. ._ .??.? •.-...... ?-,a. °Y•n'1rv?r '[aM ]• 4• t.- 7. _ +!. ?.i ? . ? '_ 4 • .. _ _ __a..??i_. i l?
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flirt r"; [.?'n•r i:.k ?f•i1N^a ?,,. r
,?ra 'lr Mk'` ??4 jZr '
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:y??fl?i:-,,x?t ''T1.cx :?'• .:`i7:` •I: t°- ;`7: eY- ``?'.` .•.`:. ' '.? y.'„ 1,?3f.f._' - .
.. ..... -' -- -------.-._-??? cra+e±n?-?:r' 7.']9"?vefr'?:•':."`T:?'=".;1.. ?+;• 1... .1_.ss?.''?°w.
,? a- - -err r??}•+' - se• '{::y.r ,-.4. .e: :'a,.+.-, ;:r ::?!-1C'T" rrl'^Y''c.-,• - s _ - ` 1
(i. r 7711 )
. ` ? L.`rl pf?_n??::?•t?a?'f??I??t,'?;tsq' I'iP'••
The receiver 'so appointed shall forthwith, directly or by his
agents and !attorneys, enter into and upon and take possession of said
'R ? Bridger and each and every part thereof: and shall hold, operate and '
?
B
maintain, manage and control said Bridge, and each and every part there-
;
of, and in the name of the City shall exercise all the rights and powers
`; + Y of the City with respect to said Bridge as the City itself might do. {
+? }
Such receiver shall collect and receive all tolls and other revenues ,?.'_?=.' ,'.•:-' .
?:? ?•?k. in this ordi-
maintain and operate said Bridge in the manner provided
1r
nance, ?,??:. ,. ? ;:??"
and comply under the jurisdiction of the court appointing such re-'1?•''=;;_
•'aw .'A i?ka..Y.c.lftr 4? ?•"?!'•+.•, s
'?iva}.+:eg:lsii-:vl.est.??5'k?k74+T?.`?'+.?.s,:.'.iFi. ,,_ .4?;' ??:?, ;?y ?1?Ny4?{,?Y. 1'P1'. }.
y> yF,: 1'•,i?t:J by
ceiver, fwith all the provisions of this ordinance. ?._• >i} '''?.z;«?''°. •
r Whenever all that is due upon Bonds issued pursuant to this or- ,fr, ?-' Y:' ??•_.• ???'? s,
??'Y H F?3,jk„?'•P ?? S, •r °r:•t..:.?;s 33,}"xtk??? '? ? ,• 1
,. 3. dinance, and interest thereon, and under any covenants of this ordinance
_`?"?`"`?
for reserve, sinking fund or other payments and upon any other obliga- ,. '
r`-??'•i• ,? tions and interest thereon having a charge, lien or encumbrance upon the tolls and other revenues of said Bridge shall have been paid and
made good, and all defaults under the provisions of this ordinance shall
have been cured and made good, possession of said Bridge shall be surren-
dered to the City upon the entry of an order of the court to that effect.
Upon any subsequent default, any holder of Bonds issued pursuant to this
ordinance, or any Trustee appointed for Bondholders as hereinafter pro-
vided, shall have the same right to secure the further appointment of a
receiver upon any such subsequent default.
,'
Such receiver shall in the performance of the powers herein-
above conferred upon him be under the direction and sup ervision of the court making such appointment; shall at all times be subject to the or-
ders and decrees of such court and may be removed thereby and a succes-
sor receiver appointed in the discretion of such court. Nothing herein
contained shall limit or restrict the jurisdiction of such court to en-
ter such other and further orders and decrees as such court may deem
necessary or appropriate for the exercise by the receiver of any function
not specifically set forth herein.
Any receiver appointed as provided herein shall hold and oper-
ate said Bridge in the name of the City and for the joint protection and
-33-
Ord. 879
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1?+r_S?f1Y?C t Y.Y'SW Y'wf• isM 3'1`? .y'. 'L '?• •"i r? ? ??.?_rr??.d•,.r-.?t•? -
tM
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' benefit of the City and holders of Bonds issued pursuant to this ordi-
nance. Such receiver shall have no power to sell, assign, mortgage or ''• =
otherwise dispose of any assets of any kind or character belonging or
j pertaining to said Bridge but the authority of such receiver shall be
s limited to the possession, operation and maintenance of said Bridge for
t?k w , the sole purpose of the protection of both the City and Bondholders, „i
and the curing and making good of any default under the provisions of
this ordinance, and the title to and ownership of said Bridge shall re-
f; main in the City, an no court shall have any jurisdiction to enter any
order or decree permitting or requiring such receiver to sell, mortgage `'`"mmadw,:r`rr ?a,.?•wfeswi
I NA,
?. or otherwise dispose of any assets of said Bridge except with the con- z:r.
'?r;??` a.
?s fl•iq 1 t? "^'[:/dRta jr-`Y.. ,,'w ?xY i •'?L L
r'i4n 3 ?1 c'??,,;•t Vii. ,;f,..:v
Yy k ;+,z ,rj sent of the City and not less than seventy-five per centum (75%) of the
holders of the aggregate principal amount of Bonds then outstanding to
J ?IJ Y:{ C {7
be evidenced in such manner as the court shall direct,
The holder or holders of Bonds in an aggregate principal
amount of not less than twenty-five per centum (25%) of Bonds issued
xt: ,
under this ordinance then outstanding may by a duly executed certificate
in writing appoint a trustee for holders of Bonds issued pursuant to
this ordinance with authority to represent such Bondholders in any le-
e,
gal proceedings for the enforcement and protection of the rights of
such Bondholders. Such certificate shall be executed by such Bondhold-
ers or their duly authorized attorneys or representative, and shall, be
filed in the office of the Glerk of the City.
J;
N. CONSULTING ENGINEER. That the City will retain the firm
of J. E. Greiner Company, Inc., Consulting Engineers, of Tampa, Florida,
as Consulting Engineers, or other qualified and recognized engineers, to
supervise the construction of said Bridge, and, after the completion of
said Bridge, will retain on an annual basis said firm or a firm of na-
tionally recognized engineers, as Consulting Engineers to supervise gen-
erally the operation, maintenance and renewal and replacement of said
Bridge, and all parts thereof, and to make reports and recommendations
as to betterments, methods of operation, and rates of tolls or charges
for the use of the facilities of said Bridge.
Ord. 879
-34-
i??y , r yes f ,.
.C` ?e3Y?Sy ?' .\,i"E.y?f.'sY'`t; •y?{?. t?;??:}'?..?•; '^f.- r+! .
-?„'ija !ta?`o'{,wc t Ij?? tT! ?'.? •1'.'s•'' :'7i " - ?`,Z',..-
-7 771
.. rFrv4 s4??'1a:'wMir r"? t& p; 5?1 Sfi? ti
' y " .rarw. •y i
• ,N ? f?5?"1 ..$? 4 1?
proceedings in the Circuit Court of the Sixth Judicial Circuit of Flor-
ida, in and for Pinellas County, Florida, for the validation of the
F
Bonds and the proper officers of the City are hereby authorized to veri-
fy on behalf of the City any pleadings in such proceedings.
Upon the validation of the Bonds pursuant to such proceedings, there shall be printed upon each Bond prior to the delivery thereof
and over the facsimile signatures of the City Clerk, City Manager and
Mayor-Commissioner of the City a Validation Certificate substantially in
-y•?.1', iY,}+I,F1,.;iiEtl rai'i ?S'. .: .
the form hereinbefore set forth Q ,t, ?. :. {"? r.r•'?•„t
Section 4.06. EFFECTIVE DATE. That it is hereby found deter- +` t;y?,'" •`?';
mined and declared that the funds to pay the cost of the construction and :•a?r 4 x r x 'n•'
acquisition of the Bridge authorized hereby are necessary and urgently
needed for the preservation of the health, safety and welfare of the citi-
a Y
zens and inhabitants of the City of Clearwater; that an emergency is here- `E
by declared and that this ordinance shall be in full force and effect
immediately upon its passage as provided by law-. ray,
PASSED ON FIRST READING October 17," 1960
PASSED ON SECOND READING October 18, 1960
PASSED ON THIRD AND
FINAL READING AND
ADOPTED. _October 18, 1960
Y
• yor- ommiss oner
t:
Attest:
f: 3
Clerk
f
r
- 36 -
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_ ;??; t't ;` , X; The Clearwater Sun u:1 ,t:. w?l: r -a' r_ ' 7 "?; =r .
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> ,i ra, j r 1': a;+.': oath says that he is the Business Manager of the Clearwater Sun. dal y newspaper `;, Fi '44.1'. -, .: '=
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' 's:f µi j?l•r[ >`;'?= =`r'`s"'' ubIlshed at Clearwater in Pinellas Couatp Plorldat that for attached c I : t '° .
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a r.'t s IT In the ...................................................... Covet. was published in
>_':. ,_, C,ss. ;?_w Ly{?t' 5' - R said newspaper in the Issues of .... .October. .20 .101 6ri .
Afflant further says that the said Clearwater Sun is a newspaper published at
Clearoater. In said Pinellas County. Florida, and that the said newspaper has
heretofore been continuously published in said Pinellas County, Florida. each day and
has been entered as second class mail matter at the post office in Clearwater, in said
Pinellas County. Florida, for a period of one year no cc ding the first publication of
the attached copy of adnrtisementi and afflant the ¦ that he has neither paid
nor promised any person, firm or corporation an Isco . rebate, ca misdon or refund
for the purpose of securing this advertise a or cation In t said newspaper.
..... . C.GrL. i . ... . (. l . ........
,Sworn to and subscribed before me
. this., . ,21 FLt....day of... October.... A. D. 19.b.O.
".1- LSa? 1 ataxy Put7:cc;'S{a:e FA Cl:t ri:t a! larr'J
( ) Notary Public
I My Comm'a:: an Cx a'r,' ; Jan. 25, 10363
, Unnded by A!iiLsx,in !??reiy Co. of N. Y.
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