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ORDINANCE NO. 954
;s AN ORDINANCE AUTHORIZING THE CONSTRUCTION OR ACQUXSITIO?
?a OF AN INCINERATOR FOR THE CITY OF CLEARWATER FOR THE
PURPOSE OF DISPOSING OF GARBAGE AND OTHER WASTE MATERIAL
` OF SAID CITY; AUTHORIZING THE ISSUANCE OF $10100,000
INCINERATOR REVENUE BONDS TO PAY THE COST THEREOF;
• ?rs??{,a'?.r„ ,? £;z, ? .•--?-? PROVIDING FOR THE RIGHTS OF THE HOLDERS OF SAID BONDS
Y:AND PROVIDING FOR THE METHOD OF PAYMENT OL` SAID BONDS.
BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF CLEARWATER, FLORIDA:
ARTICLE I
;7
'1 {7? ' `'. '` `?? •'? STATUTORY AUTHORITY, FINDINGS AND DEFINITIONS.
1.01. AUTHORITY OF THIS ORDINANCE. This ordinance is adopted pursuant
_t'"`."''.t: j'?'?`s';..•' to the provisions of Chapter 61-2010, Laws
of Florida, Acts of 1961 herein called
µE?'.'Nfud::3?ixln?.•j+r ?":..r.•+<.i;i;.i ik.al: it
"all "Act??•), and other applicable provisions of law.
yE7 r'r J:?• i?. r?'a ?li•. J'f...L
i' s?+ L'L`r"" :;'}S?• "ae'•? It is hereby found and determined as follows:
'a ?\ 11?. 1. r?.' r?rvr •..
A That the City of
•, () Clearwater does not now have an incinerator system
:;.:,. to efficiently dispose of garbage and other waste materials and refuse collected
by the City, and the present method of disposal of said garbage and other waste
materials is expensive, as wall as inadequate, to meet the present needs of the
City, much less to meet the increasing demand for the disposal of garbage and other
waste materials resulting from the increase in population and the consequent increase
14Y of garbage, waste materials, and refuse to be disposed of and destroyed.
(B) That the City of Clearwater, under Section 2 of said Act, has power
?'^ta \.,? '• to erect, acquire, owns and operate such garbage disposal incinerator units as it
may deem necessary for the protection of the health and welfare of its inhabitants.
(C) That the Legislature of the State of Florida, by said Act, has found
i? A^?6 h 1
Ate, ti' ;?u b? and determi.ned,and this Commission now finds and determines that the construction
t,;,AM of garbage disposal or incinerator unit or units by the City of Clearwater, Florida,
is essential and necessary for the protection of the health and welfare of the
inhabitants of the City and that the construction of them is a necessary governmental
s? \ purpose.
s , (D) That the City will derive revenues from rates, fees, rentals, and
other charges from the operation of its incinerator and garbage collection system
r ti.
?hC? .off
and that such revenues are not pledged or encumbered in any manner.
(E) That the revenues derived by the City from the operation of said
incinerator and garbage collection system will be sufficient to pay the principal
of and interest on the Incinerator Revenue Bonds authorized by this ordinance as
the same shall become due and, together with other funds lawfully available therefor
and deposited in the Incinerator Fund hereinafter provided for, all costs of
operating and maintaining said incinerator and garbage collection system and all
Ord. #954 1.
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reserve, sinking fund, or other payments prdvide4 for in this ordiiianca,
(F) That there is hereby authorized the construction or acquiaition and
installation of an incinerator for the disposal of garbage, waste materials and
refuse, in accordance with the preliminary plans and specifications therefor here-
tofore prepared by Briley, Wild & Associates of Daytona Beach, Florida, and hereto-
fore filed in the office of the City Clerk, at an estimated cost of not exceeding
$1,100,000. Such cost shall be deemed to include the cost of the construction or
acquisition and installation of said incinerator, 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 Incinerator Revenue Bonds issued
pursuant to this ordinance to and including February 1, 1964; engineering and legal
expenses; expenses for estimates of costs and of revenues; expenses for plans,
specifications, and surveys; fees of financial agents or consultants; administrative
expenses; and such other expenses as may be necessary or incidental to the financing
authorized by this ordinance and the construction of the incinerator authorized by
this ordinance and the placing of the same in operation.
1.02. ORDINANCE TO CONSTITUTE CONTRACT. In consideration 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
between the City of Clearwater, Florida, and such Bondholders, and the covenants and
agreements herein 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 such Bands
and the coupons attached thereto, all of wh.L4h 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.
1,03. 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, Florida.
(b) "Act" shall mean Chapter 61-2010, Laws of Florida, Acts of 1961.
(a) "Bonds" shall mean the $1,100,000 Incinerator Revenue Bonds originally
authorized to be issued pursuant to this ordinance and also any pari passu additional
Bonds hereafter issued under the terms, restrictions, and conditions contained in
this ordinance and the interest coupons attached to said Bonds.
Ord. #954
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(d) "Holder of Bonds" or "Bondholders" or any similar term shall mean
any person who shall be the bearer or owner of any outstanding Bond or Bonds
registered to bearer or not registered or the registered owner of any outstanding
Bond or Banda which shall at +.he time be registered othdr than to bearer or of any
coupons representing interest accrued or to accrue on said Ponds.
(e) "{garbage Disposal System" shall mean the incinerator unit to be con-
structed or acquired and installed pursuant to this ordinance and any additional
incinerator or incinerator unit or units that may hereafter be constructed or
acquired by the City of Clearwater, together with any appurtenant plants for the
production of steam or other products, those agencies of the City now or hereafter
engaged in the collection of garbage and other waste materials for disposal in the
incinerator unit or units, and the accumulation, handling, and sale of materials
salvaged therefrom.
(f) "Gross Revenues" shall mean all fees, rentals, or other charges or
other income received by the City or accrued to the City or to any board or agency
of the City in control of the management and operation of said Garbage Disposal
System, and all parts thereof, from the operation of said Garbage Disposal System.
(g) "Operating Expenses" shall mean the current expenses of the City,
paid or accrued, of operation, maintenance, and current repair of said Garbage
Disposal. System and shall include, without limiting the generality of the foregoing,
administrative expenses relating solely to said Garbage Disposal System, insurance
premiums, labor, the cost of materials and supplies used for current operation, and
charges for the accumulation of appropriate reserves for current expenses not annually
recurrent but which are such as may reasonably be expected to be incurred in accordance
with sound accounting practice. "Operating Expenses" shall not include any allowance
for depreciation or renewals or replacements of capital assets of said Garbage
Disposal System.
(h) "Net Revenues" shall mean the gross revenues, as defined in (f)
above, remaining after deduction only of operating expenses, as defined in (g)
above.
(i) "Fiscal Year" shall mean the period beginning with and including
February 1 and ending with and including the next January 31.
Words importing singular number shall include the plural number in each
case and vice versa, and words importing persons shall include firms and corporations.
;Ord. 4954 _3..
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ARTICLE ii
AUTHORIZATION, TERMS, EXECUTION
2.01. AUTHORIZATION AND TERMS OF BONDS. For the purpose of financing
the cost of the construction of the incinerator described in Section 1.01 (F) hereof,
there shall be issued negotiable Incinerator Revenue Bonds of the City of Clearwater,
Florida (hereinafter called "Bonds"), in the aggregate principal amount of One Million
One Hundred Thousand Dollars ($1,100,000), which Bonds shall, be dated February 1,
1963, in the denomination of $1,000 each, numbered consecutively in numerical order
from 1 to 1,100, both inclusive, and shall mature serially in numerical order on
February 1 in the years and amounts as follows:
Year Amount Year Amount
1965 $30,000 1978 $45,000
1966 30,000 1979 15,000
1967 30,000 1980 45,000
1968 30,000 1981 50,000
1969 30,000 1982 50,000
1970 35,000 1983 55,000
1971 35,000 1981 55,000
1972 35,000 1985 55,000
1973 35,000 1986 6o,0oo
1971 loo, 000 1987 6o, ooo
1975 40,000 1988 65,000
1976 40,000 1989 65,000
1977 40,000
Said Bonds shall bear interest, payable semi-annually on February 1 and
August 1 of each year, at a rate or rates not exceeding six per centum (6%) per annum,
to be determined at the sale thereof. Both principal and interest shall be payable
at the principal office of The Chase Manhattan Bank, New York City, New York.
The Bonds of said issue maturing in the years 1965 to 1974, both inclusive,
shall not be redeemable prior to their respective stated dates of maturity. The
Bonds of said issue maturing in the years 1975 to 1989, both inclusive, shall be
redeemable prior to their respective stated dates of maturity, at the option of the
City, on February 1, 1974, or on any interest payment date thereafter, 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, plug a premium of one-fourth of one-per
centum of the par value thereof for each year or fraction thereof from the date of
redemption to the stated date of maturity of the Bonds called for payment; such
premium,in no event, however, to exceed three ane one-half per centum of the par
value of such Bonds.
Ord. #954 4 -
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kv X •AIfiai}' pi's `?(T l?j `a???? }. ?y'?1{?• ? ? i•?'•??. Y,. ? ? - ,3' ? ? . . . ?? " '{
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?1"l?i?'RiMM'?i?1F!'?M?N.?R1'l jtY"Mw ?r•?f'•?f??n. •a L ?r. Sri ? ? ? _ .._ i _ ?. ? ? ??._?_.__..__?__._?.._ti W._..,.??__...._. ..a... _.-?. __
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:mss :Lil ?.',?il ??-g.4Yii rra r-?. ".c ::'"i'! a;,i t<y4.t.fnr•..4 s• ..;rj... •+„. .. K•xcws'...i,.. ... ,? .f?.. bi -_
3 ???.. ,5., u,. e•x.17° a+71r.,\w'•.;J'j?iif, i.3'G,i a?.:L', fo«,a'S%?ra ik ",?,'Yttf . !-' iiH ,,A• ",a°:_e; ?'f' °,!"• . ?
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s•fT '•.'?b: ?1'1r•?tnf G,il?' ry tk?;4,:,J;:
r A notice of such redemption shall be published at least once at least
thirty days prior to the date of redemption in a financial paper published in the
}yi City of New Yorko New York. Interest shall cease on any of the Bonds duly called
for redemption, as provided above, on the redemption date if payment thereof has
0 s;fi r? been duly provided for. '
2.02. EXECUTION OF BONDS AND COUPONS. Said Bonds shall be executed in
„? ;: :-.`r, :•
the name of the City by the City Clerk and City Manager and countersigned by the
INC
"MAI
fF Y.ti5, sfr;?:.. Mayor'-Commissioner and shall have imprinted, impressed, or reproduced thereon the . `•` `': ` ..'- .`Y" "; ; ? '
?j i ,fit'.'.°R?§?'?yp5?1?;..;,' :;:o `'«': ;,1. i:.::x?;::,?!:.} -; aail•?..! =;'
n riw' corporate seal of the City or a facsimile thereof, and said Bonds shall be approved •.}'..?. .?r?s':??: „`',.;.
.if 'r r its':•> as to farm and correctness b the City Attorney. The facsimile signatures of said : a, s'' ,, '•r;,
,!,r?` c i}?? S1?V S' Yl'4 ,} ?: ?' it .: r.ti f•:, l,r !''f F ( 1, i?•,•:"i.
;
City Clerk, City Manager, Mayor-Commissioner, and City Attorney may be imprinted or
x ev{{ ry(? 5(}&7 .,, reproduced on said Bonds, provided that either the City Clerk, City manager, or
Mayor'-Commissioner shall manually apply his signature on said Bonds. In case any ;r, ?, ?S:•?
'S.S 3 Tu y one or more of the officers who shall have signed or sealed any of the Bonds shall i
cease to be such officer of the City before the Bonds so signed and sealed have been , f
actually sold and delivered, such Bonds may nevertheless be sold and delivered as
! 11C
herein
?$,} :.•-, . ;. •,,?' provided and may be issued as if the parson who signed or sealed such Bonds ?'• : ,•.Y
' •?? 1 fr? Ilit ,.?
' . had not ceased to hold such office. Any Bond may be signed and sealed on behalf of ?
4 F the City by such person as at the actual time of the execution of such Bonds shall" v .
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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.
The coupons to be attached to the Bonds shall be authenticated with the r _''?'t aIr:.
a Irv
facsimile signatures of the present or any future Mayor-Commissioner, City Manager,,
and City Clerk of said City, and the City may adopt and use for that purpose the
facsimile signature of any person who shall have held such office at any time on or
after the date of the Bonds, notwithstanding that he may have ceased to hold such
office at the time when said Bonds shall be actually sold and delivered.
2.03. NEGOTIABILITY AND REGISTRATION. The Bands shall be and have all
of 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, f?4? ?Z '<'•
in accepting any of said Bonds or the coupons appertaining thereto, shall be con- s?k?•
elusively deemed to have agreed that such Bonds shall be and have all of the quali-
ties and incidents of negotiable instruments under the law merchant and the Negotiable
•1 "
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
Ord, #954
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{ a hands of a bona fide holder for value in the manner provided hereinafter in the
Tl? ? a form of said Bonds. ;
'k•;
The Bonds may be regiatorec at the option of the holder, as to principal
a '= only or as to both principal and interest at the office of the City Treasurer of
the City; such registration to be noted on the back of said Bonds in the Epace i
provided therefor. After such registration 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 ?.
i s. similarly noted on the Bonds, but the Bonds may be discharged from registration by
.rl ,4..
being in like manner transferred to bearer, and thereupon transferability by ?"ii, ;? ;; {• .? ? !? r ;.a??``????t? ? .
k?t-?y?,f1 ,^i;+; 'r•` r'': ? .S%•;
delivery shall be restored. At the option of the holder, the Bonds may thereafter rt??i ',,;. 4,'?y;:,•,.?'s? '
,?a ?L.t, 's,. '?.?+??°;xi.ir:',41 o;>>EE. Gkz??i, •
Y+9'i!'???•t,°? again from time to time be registered or transferred to bearer as before. Such sF'e,r,y registration as to principal only shall not affect the negotiability of the coupons
r
hick shall continue to pass by delivery. ,
w
r tz 2.04. BONDS MUTILATED, DESTROYED, STOLEN OR LOST. In case any Bonds
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) if an so'
mutilated, destroyed, stolen, or lost, in exchange and substitution for such ?' ?;?,., e ?• ;
. 14
mutilated Band, upon surrender and cancellation of such mutilated Bond and attached
Ks ;
?r coupons, if any, destroyed, stolen, or lost and upon the holder furnishing the
????;
= City roof of his ownership thereof and satisfactory indemnity and complying with
such other reasonable regulations and conditions as the City may prescribe and
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paying such expenses as the City may incur. All Bonds and coupons so surrendered
any. E t'•::r }
shall be cancelled by the City Treasurer and held for the account of the City.
,?r3rr;,
If any such Bond or coupons shall have matured or be about to mature, instead of
issuing a substituted Bond or coupons, the City may pay the same s upon being
indemnified as aforesaid, and if such Bond or coupon be lost, stolen, or destroyed,
,e. without surrender thereof. F. "0 {
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Any such duplicate Bonds and coupons issued pursuant to this Section
shall constitute original, additional contractual obligations on the part of the
City, whether or not the lost, stolen, or destroyed Bonds or coupons be at any
time found by any one, and such duplicate Bonds and coupons shall be entitled to
ir Yequal and proportionate benefits and rights as to lien and source and security for
payment with all other Bonds and coupons issued hereunder.
2.05: FORM OF BONDS AND COUPONS. The text of the Bonds and coupons ;
ard. 1954 - b - "?
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.r w .a ?i ?!M ..ri,r` ,._..._.y,. ----- - - - .. ..:.r.+avacah? ;br.,.+,FF.?.w..lY:?;,s+n. ce•s?":'riC?` `?a'fs'.?' .`"
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't?u?3siy.rl?'"r7d9'?-w:. .: ?.t.t?xS k3Y?."iaf+=S' _,.. ., R:X+7?a. F„S. ?.?`'::'t. , ........:.a •..rk1.-.=.' .....M1...i?''?F.-`?5?1:l:?i<a:>x_•:......, . ..... ?fie:.=.'Yr?_"..???SIYa?
t t:a •. ?f- a'P. a.kl .'1. 7' r'••'• •d. a4? .f r ?,. A,};+,4.• ..-S. a.s?$r i, rtr .`
E shall be of substantially the following tenor, with such omissions, insertions,
Fh'
and variations as may be necessary and desirable and authorized or permitted by j
this ordinance or any subsequent ordinance adopted prior to the issuance thereof:
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TATES OF AMERICA
$1,000
Y STATE OF FLORIDA
COUNTY OF PINELLAS
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INCINERATOR REVENUE BOND ;r.::°
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?r i ' '£ s " KNOWALL MEN BY THESE PRESENTS that the City of Clearwater, in Pinellas
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•F` County, Florida, for value received, hereby promises to pay to the bearer or, if
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this Bond be registered, to the registered holder,as herein provided, on the first . .,
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• day of February, 19 solely from the revenues and Incinerator Fund hereinafter ,'.,':,.r •,.,.:- k,•''
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? mentioned7 the principal sum of e
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ONE THOUSAND DOLLARS ?
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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 interest on this Bond are payable at
the principal office of The Chase Manhattan Bank, New York City, New York, in law-
ful money of the United States of America.
This Bond is one of an authorized issue of Bonds in the aggregate prin-
cipal amount of not exceeding $1,100,000 of like date, tenor, and effect, except
as to number (interest rate) and date of maturity, issued to finance the cost of
the construction or acquisition and installation of a new incinerator unit for the
City of Clearwater, under the authority of and in full compliance with the Consti-
tution and statutes of the State of Florida, including Chapter 61-2010, Laws of
Florida, Acts of 1961, and other applicable statutes, and an ordinance duly enacted
by the City Commission of said City and is subject to all terms and conditions of
said ordinance.
The Bonds of the issue of which this Bond is one maturing in the years
1965 to 1974, both inclusive, are not redeemable prior to their respective stated
dates of maturity. The Bonds of said issue maturing in the years 1975 to 1969,
both inclusive, are redeemable prior to their respective stated dates of maturity,
at the option of the City, on February 1, 1974, or on any interest payment date
thereafter, 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 centum of the par value thereof for each year or fraction
thereof from the date of redemption to the stated date of maturity of the Bonds
called for payment, such premium in no event, however, to exceed three and one-
half per centum of the par value of such Bonds.
A notice of such redemption shall be 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 Bonds duly called
for redemption, on the redemption date, if payment thereof has been duly provided
for.
This Bond and the coupons appertaining hereto are payable solely from
and secured by a lien upon and pledge of the revenues derived by the City of
Clearwater from the operation of its Garbage Disposal System and out of the special
fund designated as "Incinerator Fund" in the manner provided in the ordinance
authorizing the issue of Bonds of which this Bond is one. This Bond does not con-
stitute an indebtedness of said City within the meaning of any constitutional,
statutory, or charter provision or limitation, and it is expressly agreed by the
holders of this Bond and the coupons appertaining thereto that such holders shall
never have the right to require or compel the exercise of the ad valorem taxing
power of said City, or the taxation of real estate in said City, for the payment
of the principal of or 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.
Ord. #954 - 7 -
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It is further agreed between the Cityy of Clearwater and the holder of
this Bond that this Bond and the obligation evddonced hereby shall not constitute
a lien upon the Incinerator to be constructed or acquired or upon the Cityts Garbage
Disposal System, or any part thereof, or on any other property of or in the City
of Clearwater, but shall constitute a lien only on the revenues derived from the
operation of said Garbage Disposal System and said Incinerator Fund in the manner
provided in said ordinance.
The City, in said ordinance, has covenanted and agreed with the holders
of the Bonds of this issue to fix and establish and maintain such rates and collect
such fees, rentals, or other charges for the services and facilities of said Garbage
Disposal System, and to revise the same from time to time whenever necessary, as
will always provide revenues sufficient to pay, as the same shall become due, the
principal of and interest on the Bonds of this issue, all reserve or sinking funds
or other payments provided for in said ordinance, the necessary expenses of oper-
ating and maintaining said Garbage Disposal System, and all other obligations
payable out of the revenues of said Garbage Disposal System, and that such rates,
fees, rentals, or other charges shall not be =educed so as to be insufficient to
provide revenues 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 to 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 Laws and Constitution of the State of Florida appli-
cable thereto, and that the issuance of this Bond and of the issue of Bonds of which
this Bond is one is in full compliance with all constitutional, statutory, or
charter limitations or provisions.
This Bond and the coupons appertaining hereto is and has all the quali-
ties 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 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 instrunents 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 terms and conditions;
(a) Title to this Bond, unless registered as herein provided, 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 in the Nego-
tiable Instruments Law of the State of Florida.
(b) Any person in possession of this Bond, 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 owner hereof and is hereby granted power to transfer.abso-
lute title hereto by delivery hereof to a bona fide 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
transferor; 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, Florida, may treat the bearer of this Bond,
unless registered as herein provided, or of the interest coupons hereunto apper-
taining, as the absolute owner hereof for all persons without being affected by
any notice to the contrary.
This Bond may be registered as to principal only or as to both principal
and interest in accordance with the provisions endorsed hereon.
IN WITNESS WHEREOF, said City of Clearwater, Florida, has issued this
Bond and has caused the same to be executed by the manual or facsimile signature
Ord. #954
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of its City Clerk and City Manager and countersigned by the manual or facsimile
signature of its Mayor-Commissioner, 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 horoto or imprinted 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 February, 1963.
' CITY OF CLEARWATER, FLORIDA
ATTEST:
City Clerk
Approved as to form and correctness:
City Attorney
on the first day of , 19 , the City of Clearwater, Florida,
will pay to the bearer, at the principal office of The Chase Manhattan Bank,
New York City, New York, in lawful money of the United States of America, from
the revenues described in the Bond 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 Incinerator Revenue Bond, dated
February 1, 1963.
No. FORM OF COUPON $
CITY OF CLEARWATER, FLORIDA
ATTEST:
City Manager
City Clerk Mayor-Commissioner
(To appear only on coupons on callable Bonds, "unless the Bond 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 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 Florida, in and
for Pinellas County, rendered on the 'day of , 19
CITY OF CIMWATER, FLORIDA
ATTEST:
City Clerk
City Manager
Mayor-Commissioner
City Manager
Mayor-Commissioner
PROTIISION FOR REGISTRATION
This Bond may be registered in the name of the holder on the books to
be kept by the City Treasurer as Registrar, or such other Registrar as may here-
after 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 unless made on said books by the registered holder or attorney duly
Ord. #954 - 9 -
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authorized and sirailarly noted in the registration blank below, but it may be
?• '-?3' 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 rogis-
-'' tration of this Bond as to principal shall not restrain the negotiability of the
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°' coupons by delivery merely, but the coupons may be surrendered and the interest
trade payable 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 thoreaftor 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,
k:r may be reconverted into a coupon Bond and again converted into a Bond registered
Yu as to both principal and interest as hercinabove provided. Upon reconversion of
Via; •.. 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
1. attached hereto by the Registrar, and the Registrar shall note in the registration
h1Mt blank below whether the Bond is registered as to principal only or payable to bearer.
DATE OF IN WKSE NAME 14ANNER OF SIGNATURE OF
REGISTRATION REGISTERED REGISTRATION REGISTRAR
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ARTICLE III
REVENUES AND INCINERATOR FUND AND APPLICATION THEREOF s.
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3.01. BONDS NOT TO BE INDEBTEDNESS OF THE CITY OF CLEARWATER. Neither ;s o •' a?
the Bonds nor coupons shall be or constitute an indebtedness of the City of Clearwater.,
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but shall be payable solely from the revenues of the Garbage Disposal System and IVA
other funds deposited in the Incinerator Fund hereinafter created as herein pro-
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fairing thereto, shall ever have the right to compel the exercise of the ad valorem a t r
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taxing power of the City or taxation in a form of an real property
any Y therein to
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pay said Bonds or the interest thereon.
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3.02. BONDS SECURED BY PLEDGE OF REVENUES AND MONEYS IN INCINERATOR FUND.;
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 the revenues derived from ' ?a A ; P;z `:,°p+'•
said Garbage Disposal System and other moneys deposited in the Incinerator Fund. ?? T •, t.-',f.
The revenues derived from the Garbage Disposal System and other moneys deposited
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in the Incinerator Fund, 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 become due.
Ord, #954 - 10
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3.03. APPLICATION OF BONA PROCEEDS. All moneys received from the sale
.k of any or all of the Bonds originally authorized and issued pursuant to this
..y ordinance (except accrued interest, which shall be deposited in the Sinking Fund)
shall be deposited by the City of Clearwater in a bank or trust company, as Trustee,
in a trust fund to be known as the "Incinerator Construction Trust Fund," which is ,
hereby created. The City and said bank or trust company shall enter into an
Incinerator Construction Trust Fund Agreement concerning the application of said
fund, said agreement to be in a form to be hereafter determined by resolution. "
Said agreement shall provide, among other things, that no expenditures shall be
made from said Incinerator Construction Trust Fund, except for engineering and
legal expenses, interest maturing on the Bonds issued pursuant to this ordinance
to and including February 1, 1964, and expenses in connection with the issuance and -'s ,y?
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sale of said }3onds unless such expenditures shall be first approved by the City ?`;
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Manager, and if the purchase of real property is involved, approval by the City j s
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Attorney in the form of a legal opinion to the effect that the City either has eti.
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obtained or will obtain, simultaneously with payment for such real property, a
good and marketable title to said real property. If for any reason such proceeds,
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or any part thereof, are not necessary for, or are not applied to such purposes,
then such unapplied proceeds shall be deposited by the City in the Reserve Account a?{
in the Sinking Fund to be established pursuant to this ordinance and shall be used f,r. r4
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only as provided therein for said Reserve Account. All such proceeds shall be and
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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. Such proceeds ',N,,? €r x r'%
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may, pending their use for the purposes provided in this ordinance, be temporarily
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invested in direct obligations of the United States of America maturing not later
than twelve months after the date of the purchase thereof,
3.01:. COVENANTS OF THE CITY. So long as any of the principal of or
interest on any of the Bonds shall be outstanding and unpaid, or until there shall a?:
have been set apart in the Sinking Fund and Reserve Account herein established a 't .
sum sufficient to pay, when due, the entire principal of the Bonds remaining unpaid, k°
4 ?'• X35 'S
together with interest accrued and to accrue thereon, the City covenants with the
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holders of any and all of the Bonds issued pursuant to this ordinance as follows: .
(A) RATES. That the City will fix, establish, and maintain such rates
and collect such fees, rentals, or other charges for the services and facilities
of its Garbage Disposal System, and revise same from time to time whenever necessary,
as will always provide revenues sufficient to pay, in the manner specified in
tea'
Ord. #954 - 11 - {
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Section 3.06. hereof, and out of said revenues shall pay, as the same shall become
due, the principal of and interest on said Bonds, the necessary expenses of
operating and maintaining such Garbage Disposal System, all reserve and sinking
fund or other payments provided for in this ordinance, and all other obligations
and indebtedness payable out of the revenues of such Garbage Disposal System; and
that such rates, fees, rentals, or other charges shall not be reduced so as to be
insufficient to provide adequate revenues for such purposes.
(B) ANNUAL APPROPRIATION. That the City will, in each year, beginning
September 30, 1963, set up and include in its annual budgets the amount or amounts
sufficient to pay the principal and interest on said Bonds as they become due,
without any deduction from or credit against said annual appropriations for the
revenues derived from the operation of the City's Garbage Disposal System, and
no later than February 15 in each fiscal year, beginning no later than February 15,
1964, shall deposit the amount of said appropriation into the Incinerator Fund
hereinafter created.
Notwithstanding the foregoing, however, no holder or holders of any Bonds
issued hereunder shall ever have the right to require or compel the exercise of
the ad valorem taxing power of the City for the purpose of making any such annual
appropriation for said Bonds.
(C) INCINERATOR FUND. That the entire gross revenues derived from the
operation of said Garbage Disposal System and the amounts appropriated in the City's
in
budget/each year shall be deposited in a special fund in a bank or trust company
in the. State of Florida which is eligible under the State laws to receive deposits
of state and municipal funds, which fund is hereby designated as the "Incinerator
Fund." Said Incinerator Fund shall constitute a trust fund for the purposes pro-
vided in this ordinance and shall be kept separate and distinct from all other funds
of the City and used only for the purposes and in the manner provided in Section
3.06.
3.05. OPERATION AND MAINTENANCE. That it will maintain in good condition
said Garbage Disposal System and all parts thereof and will operate the same in an
efficient and economical manner, making such expenditures for equipment and for
renewal, repair, and replacement as may be proper for the economical operation and
maintenance thereof from the Incinerator Fund.
3.06. DISPOSITION OF FUNDS. That all moneys at any time remaining on
deposit in the Incinerator Fund shall be disposed of only in the following manner
Ord. 0954
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and order of priority:
A. Incinerator Fund moneys shall first be used to pay the principal of
and interest on the Bonds. The City shall, commencing February 15th in each fiscal
year, beginning February 15, 1964, deposit all moneys in the Incinerator Fund into
the Sinking Fund until, the total of the Incinerator Fund moneys received and no
deposited in said Sinking Fund in each fiscal year shall equal the amount of interest
which will mature and become due on all the Bonds on August lst of such fiscal year
and the total amount of principal and interest which will mature and become due on
all the Bonds on February 1 of the next succeeding fiscal year; provided, however,
that the City shall pay the interest maturing on said Bonds to and including
February 1, 1964, from the proceeds of said Bonds.
B. Incinerator Fund moneys shall next be used to maintain a reserve
account in said Sinking Fund. The City shall, after such amount has been deposited
in the Sinking Fund as provided in Subsection A above, deposit in the Reserve
Account, which is hereby created, in each fiscal year, beginning with the fiscal
year which commences after the completion of construction of the Incinerator, an
amount equal to twenty per centum (20%) of the amount required to be deposited in
the Sinking Fund under Subsection A above in such fiscal year for maturing principal
of and interest on the Bonds; provided, however, that no further payments shall be
required to be made into said Reserve Account when there shall, have been deposited
therein, and as long as there sha11 remain therein, an amount equal to one hundred
fifty per centum (150%) of the largest amount which will be required for the pay-
ment of maturing principal of and interest on the Bonds issued pursuant to this
ordinance, including any pari passu additional Bonds hereafter issued, in any
succeeding fiscal year.
Moneys in the Reserve Account shall be used only for the purpose of the
payment of maturing principal of or interest on the Bonds when the other moneys
in the Sinking Fund are insufficient therefor, and for no other purpose.
Any withdrawals from the Reserve Account shall be subsequently restored
from the first revenues available after all required payments for the Sinking Fund
and Reserve Account, including any deficiencies for prior payments, have been made
in full.
The City shall not be-required to make any further payment into said
Sinking Fund or into the Reserve Account in said Sinking Fund when the aggregate
amount of funds in both said Sinking Fund and said Reserve Fund are at least equal
Ord. #954 - 13 -
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to the aggregato principal amount of Bonds issued pursuant to this ordinance then
outstanding, plus the amount of interest due or thereafter to become due on said
Bonds then outstanding.
C. Thereafter, the moneys on deposit in the Incinerator Fund shall be
used to pay the operating expenses of the Garbage Disposal System in the following
order of priority:
(1) The cost of operating and maintaining the incinerator unit.
(2)" The cost of collecting garbage and other wastes to the point of
disposal thereof,
D. In the event that the moneys on deposit in the Incinerator Fund,
after the payments into the Sinking Fund and Reserve Account therein have been
made, as provided in Subsections A and B above, shall be at any time insufficient
to pay the requirements of Subsection C above, then said requirements shall be paid
from general funds or other moneys of the City.
E. Thereafter, the balance of any moneys remaining in the Incinerator
Fund after all other required payments provided above have been made may be used
by the City in any manner provided by law; provided, however, that none of said
Incinerator Fund moneys shall ever be used for any other purposes other than the
purposes hereinbefore specified unless all of the current payments provided for
above, including any deficiencies for prior payments, have been made in full and
unless the City shall have complied fully with all the covenants and provisions of
this ordinance.
F. The Sinking Fund and the Reserve Account therein, the Incinerator
Fund, and all other spacial funds set up and created by this ordinance shall
constitute trust funds for the purposes provided herein for such funds. All of
such funds shall be continuously secured in the same manner as state and municipal
deposits of funds are required to be secured by the laws of the State of Florida.
The moneys in the Incinerator Fund may not be invested at any time.
The moneys in the Sinking Fund may be invested,upon direction of the City Treasurer
of the City, in direct obligations of the United States of America which mature
not later than fifteen days prior to the next succeeding interest payment date.
The moneys in the Reserve Account in the Sinking Fund may be invested, upon
direction of said City Treasurer, in direct obligations of the United States of
America which mature not later than five years after the making of such investments.
Ord. #954 - 24
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ARTICLE IV
ADDITIONAL COVENANTS OF THIS CITY
4.01, SALE OF INCINERATOR UNIT. The City will not voluntarily sell,
mortgage, lease, or otherwise diaposo of or encumber said incinerator or any
property essential to the proper operation of the incinerator unit.
h.02. (A) ISSUANCE OF OTHER OBLIGATIONS PAYABLE OUT OF INCINERATOR
FUND. That the City will not issue any other obligations, payable from the
Incinerator Fund, except pari passu additional Bonds.provided for herein, nor
voluntarily create or cause to be created any debt, lien, pledge, assignment,
encumbrance, or any 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 and other moneys deposited in said Incinerator Fund.
Any other obligations hereafter issued by the City, payable from the Incinerator
Fund except such pari passe additional Bonds, shall contain an express statement
that such obligations are junior, subordinate, and inferior to the Bonds issued
pursuant to this ordinance as to lien and source and security for payment from the
moneys in the Incinerator Fund and in all other respects.
(B) ISSUANCE OF PARI PASSU ADDITIONAL BONDS. That no pari passu addi-
tional Bonds, as in this subsection defined, payable out of the said Incinerator
Fund shall be created after the issuance of any Bonds pursuant to this ordinance,
except under the conditions and in the manner herein provided.
No such pari passe additional Bonds shall be issued unless the net reve-
nues, as defined herein, derived from the operation of the Garbage Disposal System
during each of the two preceding fiscal years shall be not less than one hundred
fifty per centum (150%) of the largest aggregate amount of principal and interest
which will mature and become due in any succeeding year on the Bonds issued
pursuant to this ordinance then outstanding and on any pari passe additional Bonds
theretofore issued and then outstanding and on any other obligations then outstanding
which are payable from the Incinerator Fund and on the pari passu additional Bonds
then proposed to be issued.
Such pari passu additional Bonds shall be issued only for the financing
of the construction of new additions, extensions, and improverents to said Garbage
Disposal System, including the renewal or replacement or acquisition of new and
additional capital assets thereof.
The term «pari passu additional Bonds," as used in this subsection,
Ord. #954 - 15 -
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shall be doomed to moan additional Bonds issued under the provisions and within the
limitations of this subsection payable from the Incinerator Fund pari passu with
Bonds originally authorized and issued pursuant to this ordinance. Such pari passu
additional Bonds shall be doemad to have been issued pursuant to this ordinance,
and all of the covenants and other provisions of this ordinance (except as to
details of such pari passu additional Bonds inconsistent therewith) shall be for
the equal benefit, protection, and security of the holders of any Bonds originally
authorized and issued pursuant to this ordinance and the holders of any pari passu
additional Bonds subsequently created within the limits and in compliance with
this subsection. All of such Bonds, regardless of the time or times of their
issuance, shall rank equally with respect to their lien on the moneys deposited
in the Incinerator Fund and their source and security of payment from said moneys
without preference of any Bond or coupon over any other. The City shall comply
fully with all the increased payments into the various funds created-in this ordi-
nance required for such pari passu additional Bonds in addition to the payments
required for Bonds originally issued pursuant to this ordinance.
All pari passu additional Bonds issued pursuant to this subsection
shall be dated February 1 or August 1 and shall all mature serially on February 1
of each year, and the semi-annual interest thereon shall be payable on February 1
and August l of each year.
The term "pari passu additional Bonds," as used in this subsection,
shall not be deemed to include bonds, notes, certificates, or any obligations sub-
sequently issued, the lien of which on the moneys deposited in the Incinerator
Fund is subject to the prior and superior lien on such revenues of the Bonds
issued pursuant to this ordinance, and the City shall not issue any obligations
whatsoever payable from the moneys deposited in the Incinerator Fund which rank
equally as to lien and source and security for payment from such moneys deposited
in the Incinerator Fund with Bonds issued pursuant to this ordinance, except in
the manner and under the conditions provided in this subsection.
No pari passu additional Bonds, as in this subsection defined, shall be
created at any time, however, unless all of the payments into the respective funds
provided for in this ordinance on Bonds then outstanding and all sinking fund,
reserve, and other payments provided for in this ordinance shall have been made in
full to the date of issuance of such pari passu additional Bonds and the City
shall, have fully complied with all the covenants, agreements, and the terms of
this ordinance.
r, Ord. #954 - 16 -
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}. 11.03. INSURANCE. That the City will carry such insurance as is ordi-
narily carried by private corporations owning and operating similar systems as
the Garbage Disposal System with a reputable insurance carrier or carriers against
loss or damage by fire, explosion, hurricane, earthquake, cyclones accupanoy, or
other hazards and risks, which insurance shall at all times be in an amount or
A;
'F amounts equal to the fair appraisal value of the buildings, propertiee, furniture,
fixtures, and equipment of said garbage Disposal System. In time of war, the City
' shall also carry in said amount such insurance as may be available against loss or
E damage by the risks and hazards of war.
Y
11A. BOOKS AND RECORDS. That the City will keep books and records of.
the Garbage Disposal System which shall be separate and apart from all other books,
records, and accounts of the City, in which, complete and correct entries shall be
s made of all transactions relating to the Garbage Disposal System, and any holder
of a Bond or Bonds issued pursuant to this ordinance shall have the right at all
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reasonable times to inspect the Garbage Disposal System and all parts thereof and
all records, accounts, and data of the City relating thereto.
4 The City shall, at least once a.year, cause the books, records, and
I
accounts of the Garbage Disposal System to be properly audited by a competent and
qualified certified public accountant and shall mail, upon request, and make
available generally the report of said certified public accountant, or a summary
thereof, to any holder or holders of Bonds issued pursuant to this ordinance or
anyone acting for and in behalf of such Bondholder or Bondholders.
4.05. MAINTENANCE OF GARBAGE DISPOSAL SYSTEM. That the City will
complete the construction of the incinerator unit provided for in this ordinance
in an economical and efficient manner with all practicable dispatch and thereafter
will maintain the incinerator unit and the Garbage Disposal System in good condi-
tion and continuously operate the same in an efficient manner.
4.06. SERVICES RENDERED IN THE CITY OF CLEARWATER. That the City of
Clearwater will not render or cause to be rendered any free garbage disposal
services of any nature, nor will any preferential rates be established for users
of the same class; and in the event the City of Clearwater or any department,
agency, instrumentality, officer, or employee of said City shall avail itself or
themselves of the facilities or services provided by said Garbage Disposal System
or any part thereof, the same rates, fees, or charges applicable to other customers
receiving like services under similar circumstances shall be charged said City
Ord. 0954 - 17 -
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and any such department, agency, instrumentality, officer, or employee of said
City. Such charges shall be paid an they accrue, and the City shall transfer
from its general funds sufficient sumo to pay such charges. The revenues so
received shall. be deemed to be revenues derived from the operation of the Garbage
'r Disposal. System and shall be deposited and accounted for in the same manner as
other revenues derived from such operation of the Garbage Disposal System.
,r
ARTICLE V
MISCELLANEOUS
5.01. MODIFICATION OR AMENDMENT. No material modification or amendment
of this ordinance or of any ordinance amendatory hereof or supplemental hereto
may be made without the consent in writing of the holders of two-thirds or more
in principal amount of the Bonds then outstanding; provided, however, that no modi-
fication or amendment shall permit a change in the maturity of such Bonds or a
reduction in the rate of interest thereon or in the amount of the principal obliga-
tion or affecting the unconditional promise of the City to pay the principal of
and interest on the Bonds as the same shall become due from the moneys deposited
in the Incinerator Fund or reduce the percentage of Bondholders required to consent
to such modification or amendment without the consent of the holders of such Bonds.
5.02. SEVERABILITY OF INVALID PROVISION. If any one or more of the
covenants, agreements, or provisions of this ordinance should be held contrary to
any express provision of law or contrary to the policy of express law, though not
expressly prohibited, or against public policy, or shall for any reaEon whatsoever
be held invalid, then such covenants, agreements, or provisions shall be null and
void and shall be deemed separable from the remaining covenants, agreements, or
provisions and in no way effect the validity of all the other provisions of this
ordinance or of the Bonds or coupons issued thereunder.
5.03. ISSUANCE AND SALE OF BONDS. The $1,100,000 Bonds initially
authorized to be issued by this ordinance shall be issued and sold in such manner
and at such price or prices consistent with the provisions of this ordinance as
the City Commission shall hereafter determine.
5.04. VALIDATION. That the City Attorney be and he is hereby authorized
and directed to institute appropriate proceedings in the Circuit Court of the
Sixth Judicial Circuit of Florida, in and for Pinellas County, Florida, for the
validation of said Bonds, and the proper officers of the City are hereby authorized
to verify on behalf of the City any pleadings in such proceedings.
Ord.. #954
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Upon the validation of the Bonds pursuant to such proceedings, them
shall be printed upon each such Bond prior to the delivery thereof and over the -
facsimilo signature of the Mayor-Commissioner, City Manager, and City Clerk a
i - 'tYr. i!r
Validation Certificate in the form hereinabove set forth.
5.05: TIME OF TAKING EFFECT. That it is hereby found, declared, and
determined that the funds to pay the cost of the construction and installation of
the incinerator unit authorized herein are necessary and urgeritly needed for the
preservation of the health, 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 '' w a s
passage as provided by law. ?:? ?' ?',?'?'` ? •, `
PASSED ON FIRST READING November 26, 1962 ; r#
PASSED ON SECOND READING November 26, 1962
PASSED ON THIRD AND FINAL
READING AND ADOPTED November 26, 1962
!1'
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ayor- era missioner
Attest:
Clerk
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c. ,.ri' 'L , Clearwater, Pinellas County, Florida ,: s; :: i';
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.,iff y' ll ?. Wit: ]llfiant further says that the said Clearwater gun is a newspaper published at f ZA8 •O! SAID HgNae A" PROYID+' V??-; r;- M{,?, :. ?f,+':J:::,? a.t
i Clearwater, in said Pinellas County, Florida, and that the said newspaper has tx=? •snr Ti tn - DONHOD: OP; >PA,YT „ i?:,: ",.,'f'J,F, ;,=r?,,<<:,;.;,• '
fin: 1f IaxNr a eAra >aoNDe: ° . r,. 1,?r 5
' '' u" heretofore bee copublished in said Pinellas orfd each an (PASgs:D,ON ="T.n"Diiia Y'':.° :;,:.,:.a.)
i' r. u'2t r;:,f' been continuously , a,a day and 5' y., f.r:t?",i ,? rd i," v:,..-? La:`tx•`_T.
fhas beast entered as second class mail matter at the t offlca Clearwater, [n said 1rASean.oN alxoivrD°'"aiwtHd'; "' : "''>i'y+.,' at• '. '3 ;4
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'. Pinellas County, Florida, for a period of one year nex procedl a a first publication of ' .. '..• Norrma.ras, xseti 3--;'.ra:,N'•I.r. ;? ;y's-- 1::,
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R=, i Y the attached coy of advertisements and a!li 'm f or s at he has neither paid t>PAearDION .TM" AND r=A1,.'t :4 .'S. ,:;w} , ,.-1 ' :?"%-'yf,, .'-.ti}?,°,
, . Bar promised any person, firm or corporation y aunt. ate, commis n or refund ]1l?At) o;AtiD%ADo mba, '': `' '' , yq•":S, I.Jj' ?, -' ` '11'.1P, stir,,-,i; ;.fir
of securing this adwrtlsam t ! p u u n in th n w$vapor. N°tnmtJ?r?a Iss= a` ,.
a. f ' i;':.M ?fi"' ' ?'" ,,i era ' '.
or the purpose e /y, ttowrt.I..: Ww1wRr t .; x"' ?. a;.
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SO= to and subscribed before mar{G??r> t
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this...29.t . ..daI of..Hovfamber.. A. D. so-62, 1' r t? s,'
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(8H1LI. r Notary Public NOtory Pubflc, State of Florida at Large
.: My Commission Expires Jan. 25, 1963
?F r? ,? Bonded by American Surely Ca. of N- Y,
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