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1. _•:
RESOLUTION
No. 62 - 116
?RESOLUTION PRESCRIBING FORM AND
AUTHORIZING EXECUTION OF CONSTRUC-
TION TRUST FUND AGREEMENT.
c
WHEREAS, by Ordinance No. 931, duly adopted on May 23, 1962,
this City Commission authorized the issuance of $1, 100,000 Utility Revenue
Certificates, Series of 1962; and
WHEREAS, said Ordinance provides that the proceeds derived from
the sale of said Certificates, less certain deposits required to be made into
certain accounts, shall be deposited in trust with a bank or trust company in
the State of Florida, in a Construction Trust Fund under a "Construction Trust
Fund Agreement" in order to ensure the application of such certificate proceeds
to the purposes provided in the aforesaid Ordinance; and
WHEREAS, said certificates have been awarded and sold; and
WHEREAS, the First National Bank of Clearwater, Clearwater,
Florida, has agreed to act as Trustee of such Construction Trust Fund;
NOW, THEREFORE, BE IT RESOLVED BY THE
CITY COMMISSION OF THE CITY OF CLEARWATER,
FLORIDA, IN SESSION DULY AND REGULARLY
ASSEMBLED, AS FOLLOWS:
1. That immediately upon the delivery of said $1, 100, 000 Utility
Revenue Certificates, Series of 1962, the City Manager, Mayor-Commissioner
and City Clerk be and they hereby are authorized to execute, on behalf of the
City, the Construction Trust Fund Agreement in the form and language annexed
hereto and made a part hereof, the form of which agreement has been approved
by the City Attorney.
2. That this Resolution shall take effect immediately upon passage.
PASSED AND ADOPTED this 24th day of O obey, 1962.
f
ayor-Commiesio er
Attest:
. GAL ,
' CClerk
t ?. ' .
Reso.#62- 116 1. 10-24-62
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