CITY OF CLEARWATER CITY COMMISSION MEETING
4 1
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CLEA'~:,~:~.~~n SIJN
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NOTICE OF PROPOSED
EN ACTMENT OF
ORDINANCE
Clearwater City Commission
Meetings May 29, 1980, begin,
ning at 4:30 P.M. and June 5,
1980, beginning at 6 P.M" Com,
mission Meeting Room, City
Hall. To consider adoption of
Ordinance No. 2133, tiUe as fo),
lows:
AN ORDINANCE OF THE
CITY OF CLEARWATER,
FLORIDA, AMENDING OR,
DINANCE NO. 2124 TO PRO-
VIDE THAT THE "PARKAC-
QUISITION NOTE, SERIES
1980, OF THE CITY OF
CLEARWATER, FLORIDA"
SHALL BE PAID FROM THE
FRANCHISE FEES RE,
CEIVED FROM THE
FRANCHISE GRANTED TO
FLORIDA POWER COR PO,
RATION; PROVIDING FOR
THE REPEAL OF ALL OR.
DINANCES OR PARTS OF
ORDINANCES IN CONFLICT
HEREWITH TO THE EX-
TENT OF SUCH CONFLICT;
PROVIDING FOR THE SEP,
';"ARABILITY OF THE PRO,
VISIONS HEREOF, PRO-
VIDING FOR NOTICE OF
PROPOSED ENACTMENT;
AND PROVIDING FOR THE
EFFECTIVE DATE OF THIS
ORDINANCE.
Citizens may be present to
speak on the ordinance and/or
may inspect it prior to above
dates at City Attorney's Office.
3rd floor, City Hall.
~1r City of Clearwater, Florida
C~~VJ''' Lucille Williams, City Clerk
C\'f'1 May 29 758
,
STATE OF FU lHlJ)A
UHJ!\TY OF I'I:'IELLAS:
B,.fol'" lilt" 1I1111tT",il!,ll4"cl ,,"r1IlH'il~ lH'r",ullall~ upP,'url'cJ 'll1r~ .\1I1t :\lurnart.lli. ",,111I on Clall. ..u~... lIulI
"III' i.. 1I1~' C:lu.....ifi..d Sill.... 'l11llllg.l'r ur tl... C:I,'ur"'lllc'r Sltn. II (1IIil~ IIf'\o\."'P"P',,- publi...llI'd III C:Ir'lln'..IIIt'r' ill
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Notice of Proposed Enactment of Ordinance ,#2133
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1111111' IIIHllt'f" uf
Amending Ordinance No. 2124
................................................................................ .
................................................................................ .
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l'illl,lIu!'< (:ollnl~. Florid,.. "w'h du~ unci hw.. 1"'1'11 C'III("...(J u.. ,,('C'UIU) c.la..... 1I111iIIllUllf''''' III II". po"'l offi.'., in
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u( Ih.' ullut'lll'd .'up~ of IIfh..rti....IIH'III: und uffiulJI fllrrlll"r ....H~.. 111lS1 ..III' Ia,... III.ill...r l'uiclllUI' prollli".'fl
un~ p..r"ull. firlll ur nJrporulioll un~ .li....OIlIlI.. n.lw.... C.Ulllllli....ioll ur n.fllll.1 fur .111' purl'lt..., of ..(.(.ltrill;,!
thi.. udn'rli..IIH'lIt for publicUlilllJ ill II", ...lIi.IIH',""PUpCT.
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I..;EAI.
\Cjro~
\IIIHI"' Puhlic'
( :~'-:lO')
t:CHrY FU~.l'C,
J.~y C(1::::,.~:ss:Cj~ L.~.. =:.) ~',':'Y i.l. :~'~1
EOt~!JED Tiol~k! r.::~:~~AL INS. laIDE~\h~af.rlS
I, Lucille Williams, duly appointed City Clerk of
the City of Clearwater, Florida, .certify the fore-
going to be a true and correct copy of the
Affidavit of Advertisement.for Ordinance No. 2133
adopted by the City Commission on the ftfthday
of June, A.D. 1980"
Witness my hand
Clearwater this
and the seal of the CityCQr-
fifth day of ,June, 19&-0. -_:-'
--->
~~L~,
City Clerk
1~=o46-0 h~ 1
....
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ORDINANCE NO. l124
AN ORDINANCE AUTHORIZING THE ISSUANCE OF A NOTE NOT EXCEEDING
$427,000.00 TO BE KNOWN AS THE "PARK ACQUISITION NOTE, SERIES
1980, OF THE CITY OF CLEARWATER, FLORIDA," FOR THE PURPOSE OF
EXPANDING THE PARKS AJ.,{D RECREATION FACILITIES OF THE CITY;
AGREEING TO PAY SUCH NOTE FROM LEGALLY AVAILABLE NON-AD VALOREM
GENERAL FUND REVENUE; PROVIDING FOR THE SEVERABILITY OF T11E
PROVISIONS HEREOF; PROVIDING FOR PROPER NOTICE OF PROPOSED
ENACTMENT; AND PROVIDING FOR THE EFFECTIVE DATE OF. THIS ORDINANCE.
BE IT ENACTED BY THE CITY COMMISSION OF THE CITY OF CLEARWATER, FLORIDA:
ARTICLE I
AUTHORITY,DEFINITIONS AND FINDINGS
Section 1.01 AUTHORITY FOR ORDINANCE. This ordinance is adopted pursuant to
the provisions of Section 2-81 of the Code of Ordinances of the City of Clearwater,
1962, Chapter 166, Part II, Florida Statutes, and other applicable provisions of
law.
Section 1.02 DEFL'iITIONS. The following terms shall have the following
meanings herein, unless the text otherwise expressly requires:
A. "Issuer" shall mean the City of Clearwater, Florida.
B. "Obligation" shall mean the note herein authorized to be issued for the
purchase of the 37.83 Acre Iley/Ruppel Tract.
C. "Holder of Obligation" shall mean any person who shall be the bearer of
an obligation authorized to be issued by this ordinance.
D. "Project" shall mean the acquisition of the 37.83 Iley/Ruppel Tract to
be used as part of the parks and recreation services provided in the City of
Clearwater, Florida.
Section 1.03 FINDINGS. It is hereby ascertained, determined and declared
that:
A. The Issuer now operates a parks and recreation department in the City of
Clearwater, Florida, and provides parks and recreation services to the residents
of Clearwater.
B. It is necessary to acquire additional land in order to expand the service
and thereby preserve and protect the public health, safety and welfare of the
inhabitants of the Issuer.
C. The principal and interest on the Obligation shall be payable solely from
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AR TICLE II
AUTHORIZATION, TERMS, EXECUTION
Section 2.01 AUTHORIZATION OF ACQUISITION OF PROJECT.
There is hereby authorized the acquisition of the Project, consisting of the
purchase of the 37.83 acre lley/Ruppel Tract. pursuant to agreements now on
file or to be filed with the Issuer" The cost of such proj ect shall be the principal
purchase price PJrable of $700,000 of which $273,000 shall be paid by the City
from funds on hand. and the balance of $427,000 shall be paid over a period
of ten (10) years and interest upon the Obligation for not exceeding ten (10)
years from the date of delivery thereof; and expenses as may be necessary or
incidental to the financing herein authorized and acquisition of the Project
and placing the same in operation"
Section 2" 02 AUTHORIZATION OF OBLIGATION. Subject and pursuant
to the provisions hereof. an Obligation of the Issuer to be known as the "Parks
Acquisition Note, Series 1980". herein referred to as "Obligation". is authorized
to be issued in the aggregate principal amount of not exceeding Four Hundred
Twenty-Seven Thousand Dollars ($427,000.00)"
Section 2" 03 DESCRIPTION OF OBLIGA TION" The Obligation shall
be dated May 30, 1980; shall consist of a note of the Is suer payable in annual
principal payments of Forty-two Thousand Seven Hundred Dollars ($42, 700.00),
due May 30 of each year. beginning 1981 and ending in 1990, plus interest
payments due on May 30 and November 30 of each year, beginning November
30. 1980, and ending May 30, 1990, at the rate of nine per cent (9%) per
annum. on the unpaid principal balance"
Such Obligation shall be issued on a note form as provided herein;
shall be payable to bearer with respect to principal and interest as provided
herein and in lawful money of the United States of America.
':.
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shall be approved as to form and correctness by its City Attorney. In case
any officer whose signature shall appear on any Obligation shall cease to be such
officer before the delivery of such Obligation, such signature shall nevertheless
be valid and sufficient for all purposes the same as if such officer had remained
in office until such delivery.
Section 2.05 NEGOTIABILITY. The Obligation shall be and shall have
all of the qualities and incidents of a negotiable instrument under the law merchant
and the laws of the State of Florida, and each successive holder, in accepting such
Obligation, shall be conclusively deemed to have agreed that such Obligation shall
be and have all of the qualities and incidents of a negotiable instrument under the
law merchant and the Laws of the State of Florida.
Section 2.06 PROVISION FOR REDEMPTION. The Obligation may be
redeemed at any tirn.e prior to maturity, at the option of the Issuer, in whole at
par plus accrued interest to the redemption date upon at least thirty (30) days
prior notice published in a newspaper of general circulation in the City of
Clearwater, and given in writing to the Paying Agent.
Section 2.07 FORM OF OBLIGATION. The Obligation shall be in
substantially the following form, with such omissions, insertions and variations
as may be necessary and desirable and which are herein authorized or permitted
prior to the issuance of the Obligation.
CITY OF CLEAR WATER
NOTE
KNOW ALL MEN BY THESE PRESENTS that the City of Clearwater,
Florida, (hereinafter called "City"), for value received, hereby promises to pay
to the bearer of this Note, from legally available general fund non ad valorem
revenues the principal sum of Four Hundred Twenty-Seven Thousand Dollars
($427,000.00), payable in ten (10) equal annual principal payments of Forty-two
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hereof being payable semi-annually on May 30 and November 30 of each year
commencing November 30, 1980, and ending May 30, 1990. Principal and interest
on this Note shall be due and payable in lawful money of the United States of
America at Barnett Bank of Clearwater, 1130 Cleveland Street, PO Drawer
5128, Clearwater, Florida 33518.
This Note is a single authorized obligation in the amount of $427,000.00,
issued to finance the cost of the acquisition of the 37.83 acre !ley/Ruppel Tract
to improve the parks and recreation system of the City under the authority of
and in full compliance with the Constitution and Statutes of the State of Florida,
including Section 2-81 of the Code of Ordinances of the City of Clearwater, Florida,
Chapter 166, Part II, Florida Statutes, and other applicable provisions of law
and an ordinance duly enacted by the City Commission of the City of Clearwater
on the 15th day of May, 1980, and is subject to all the terms and conditions of
such Ordinance.
This Note may be redeemed at any time prior to maturity, at the option
of the Issuer, in whole at par plus accrued interest to the redemption date upon
at least thirty (30) days prior notice published in a newspaper of general
circulation in the City of Clearwater, and given in writing to the Paying Agent.
This Note does not constitute an indebtedness of the City within the
meaning of any constitutional or statutory provision of limitation of indebtedness
and it is expressly agreed by the holder of this Note that such holder shall never
have the right to require or compel the exercise of the ad valorem taxing power
of the City for the payment of the principal of and interest on this Note.
It is further agreed between the City and the holder of this Note that this
Note and the obligation it establishes shall not constitute a lien upon the Project,
or any part thereof, or on any other property of or in the City, but shall be
payable from legally available general fund non ad valorem revenues in the
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The agreement to pay from the non ad valorem revenues described by the City
under the Ordinance may be discharged at or prior to the maturity or redemption
of the Note upon the making of provision for payment thereof on the terms and
conditions set forth in the Ordinance.
All acts, conditions and things required to exist, to happen and to be performed
precedent to and in the issuance of this Note, 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 applicable thereto, and the issuance of this Note does not
violate any constitutional, statutory or ordinance limitation or provision.
This Note shall have all the qualities and incidents of a negotiable instrument
under the law merchant and the laws of the State of Florida.
IN WITNESS WHEREOF, the City of Clearwater, Florida, has issued this Note and
has caused the same to be signed by its City Manager, countersigned by its Mayor-
Commissioner, and the corporate seal to be affixed and attested by its City Clerk,
all as of the
day of
, 19
Countersigned:
CITY OF CLEARWATER, FLORIDA
By
City Manager
Mayor-Commissioner
Attest:
Approved as to form &
correctness:
City Clerk
City Attorney
.
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ARTICLE III
SOURCE OF PAYMENT OF OBLIGATION
Section 3.01 SOURCE OF PAYMENT. The Obligation herein authorized, shall not
be or constitute an indebtedness of the Issuer within the meaning of any constitutional
or statutory limitation of indebtedness, but shall be payable solely from the legally
available non ad valorem revenue from the General Fund; provided that such agreement
to pay shall not constitute a lien on or pledge of such funds. No holder of the
Obligation shall ever have the right to compel the exercise of the ad valorem taxing
power of the Issuer or taxation in any form on real property for payment thereof,
but the Obligation shall be payable only from the legally available general fund
non ad valorem revenue.
Section 3.02 COVENANT TO GENERATE REVENUES. The City agrees to take such
lawful action as may be available to it from time to time as will always provide
revenues sufficient to payout of such funds as each installment becomes due, the
principal and interest of this Note.
ARTICLE IV
MISCELLANEOUS PROVISIONS
Section 4.01 CANCELLATION. If, at any time, the Issuer shall have paid, or
shall have made provision for payment of the principal and interest with respect to
the Obligation, then, and in that event, the agreement to pay from legally available
general fund non ad valorem revenue in favor of the holder of the Obligation shall be
no longer in effect. For purposes of the preceding sentence, a tender of the full
amount of principal and interest then due on the Obligation or a separate deposit
of the principal and interest payment in a separate account shall be considered
"provision for payment."
Section 4.022 SEVERABILITY OF INVALID PROVISIONS. If anyone or more of the
covenants, agreements or provisions herein contained shall 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 reason 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 shall in no way affect the validity of any of the other provisions
hereof or of the Obli~ation issued hereunder.
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Section 4.03 REPEALING CLAUSE. All ordinances or parts thereof of the Issuer
in ~onflict with the provisions herein contained and of the Original Ordinance are,
to the extent of such conflict, hereby superseded and repealed.
Section 4.04 EFFECTIVE DATE. This ordinance shall become effective immediately
upon its adoption.
Section 2. Prior to the execution of the Note provided herein, the City
Manager is authorized to make any insertion in this Ordinance necessitated by the
execution of the Note.
Section 3. Notice of the proposed enactment of this ordinance has been
properly advertised in a newspaper of general circulation in accordance with
Section 166.041, Florida Statutes.
PASSED ON FIRST READING
May
1 , 1980
PASSED ON SECOND AND FINAL
READmG AND ADOPTED
AS AMENDED
May 15, 1980
/s/ Charles F. LeCher
Mayor-Commissioner
Attest:
/s/ Lucille Williams
City Clerk
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I, Mary Sue Lamkin, duly appointed Deputy City Clerk of the
City of Clearwater, Florida, certify the foregoing to be a true and
correct copy of Ordinance No. 2124
adopted by the
City Commission on the
1 st
day of
May
A. D., 19'X 80
Witness my hand and the seal of the City of Clearwater,
~-r::t.
da y of
~
, A. D., 191C 80
this
1n .~.y~
Dep~ty Clerk . ..
..
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ORDINANCE NO. 2133 ,
AN ORDINANCE OF THE CITY OF CLEARWATER,
FLORIDA, AMENDING ORDINANCE NO. 2124 TO
PROVIDE THAT THE "PARK ACQUISITION NOTE,
SERIES 1980, OF THE CITY OF CLEARWA TER,
FLORIDA" SHALL BE PAID FROM THE FRANCHISE
FEES RECEIVED FROM THE FRANCHISE GRANTED
TO FLORIDA POWER CORPORATION; PROVIDING
FOR THE REPEAL OF ALL ORDINANCES OR PAR TS
OF ORDINANCES IN CONFLICT HEREWITH TO THE
EXTENT OF SUCH CONFLICT; PROVIDING FOR THE
SEPARABILITY OF THE PROVISIONS HEREOF;
PROVIDING FOR NOTICE OF PROPOSED ENACTMENT;
AND PROVIDING FOR THE EFFECTIVE DA TE OF
THIS ORDINANCE.
BE IT ENACTED BY THE CITY COMMISSION OF THE
CITY OF CLEARWATER, FLORIDA:
SECTION 1. Ordinance No. 2124, duly enacted by the City
Commission of the City of Clearwater, Florida on May 15, 1980, authorizing
the issuance of not exceeding $427,000 Park Acquisition Note, Series 1980
(the "Ordinance"), is hereby amended in the following respects:
(a) Section 1. 03C of the Ordinance is amended to read as follows:
"Section 1.03 FINDINGS. It is hereby ascertained, determined
and declared that:
* * *
C. The principal and interest on the Obligation shall be payable
solely from the moneys received by the Issuer from Florida Power
Corporation, its legal representatives, successors or assigns under the
franchise granted pursuant to Ordinance No. 1091, duly enacted on July 5,
1966, or any extension or renewal of said franchise or from any new franchise
granting the right to supply electricity to the Issuer or its inhabitants (the
"Franchise Revenues"). The Issuer shall never be required to levy ad
valorem taxes on any property therein to pay the principal of and interest
on the Obligation and such Obligation shall not constitute a lien upon any
property of or in the Issuer. "
(b) Section 2.07 of the Ordinance is amended to read as follows:
"Section 2.07 FORM OF OBLIGATION. The Obligation shall
be in substantially the following form, with such omissions, insertions,
and variations as may be necessary and desirable and which are herein
authorized or permitted prior to the issuance of the Obligation:
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STATE OF FLORIDA
CITY OF CLEARWATER
PARK ACQUISITION NOTE, SERIES 1980
KNOW ALL MEN BY THESE PRESENTS that the City of Clearwater,
Florida (hereinafter called "City"), for value received, hereby promises to
pay to the bearer of this Note, from the Electric Franchise Revenues, as
hereinafter defined, the principal swn of
FOUR HUNDRED TWENTY-SEVEN THOUSAND DOLLARS
($427; 000), payable in ten (10) equal annual principal payments of Forty-two
Thousand Seven Hundred Dollars ($42,700), due on May 30 of each year in
the years 1981 through 1990, and interest on the unpaid balance thereof, from
the date hereof, at the rate of nine per centwn (9%) per annwn, such interest
to the maturity hereof being payable semiannually on May 30 and November 30
of each year, commencing on November 30, 1980, and ending on May 30,
1990. Principal of and interest on this Note shall be due and payable in lawful
money of the United States of America at Barnett Bank of Clearwater, Acting
as Paying Agent, 1130 Cleveland Street, P. O. Drawer 5128, Clearwater,
Florida 33518.
This Note is a single authorized obligation in the amount of $427,000,
issued to finance the cost of the acquisition of the 37.83 acre lley/Ruppel
Tract to iInprove the parks and recreation system of the City under the authority
of and in full compliance with the Constitution and Statutes of the State of
Florida, including Section 2-81 of the Code of Ordinances of the City,
Chapter 166, Part II, Florida Statutes, and other applicable provisions of
law, and Ordinance No. 2124, duly enacted by the City Commission of the
City on May 15, 1980, as amended, and is subject to all the terms and
conditions of such Ordinance.
The principal of and interest on this Note is payable solely from
the moneys received by the City, for a period of thirty (30) years from
July 5, 1966, from Florida Power Corporation, its legal representatives,
successors or assigns under the franchise granted pursuant to Ordinance
No. 1091, duly enacted on July 5, 1966, or any extension or renewal of said
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franchise or from any new franchise granting the right to supply electricity
to the Issuer or its inhabitants (herein referred to as "Electric Franchise
Revenues ").
The Note may be redeemed at any time prior to maturity, at the option
of the City, in whole at 'par plus accrued interest to the redemption date upon
at least thirty (30) days prior notice published in a newspaper of general
circulation in the City of Clearwater, Florida, and given in writing to the
paying agent.
This Note does not constitute an indebtedness of the City within the
meaning of any constitutional or statutory provision or limitation of indebtedness
and it is expressly agreed by the holder of this Note that .such holder shall never
have the right to require or compel the exercise of the ad valorem taxing
power of the City for the payment of the principal of and interest on this Note.
It is further agreed between the City and the holder of this Note that
this Note and the obligation it establishes shall not constitute a lien upon
the Project, or any part thereof, or on any other property of or in the City,
but shall be payable solely from the Electric Franchise Revenues in the manner
provided in the Ordinance.
The City has covenanted and agreed with the holder of this Note that
it will not repeal the ordinance levying the electric franchise revenues and
will not amend or modify such ordinance in any manner so as to impair or
adversely affect the power and obligation of the City to levy and collect the
electric franchise revenues or impair or adversely affect in any manner the
pledge of such electric franchise revenues or the rights of the holder of the
note, and that the City shall be unconditionally and irrevocably obligated, so
long as the note is outstanding and unpaid, to levy and collect such electric
franchise revenues, at a maximwn rate permitted by law, to the extent
neces sary to pay the principal of and interest on the Note and to make the
other payments required by the ordinance.
The agreement to pay the principal of and interest on this Note from
the Electric Franchise Revenues may be discharged at or prior to t.he
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maturity or redemption of the Note upon the making of provision for payment
thereof on the terms and conditions set forth in the Ordinance.
All acts, conditions and things required to exist, to happen and to
be performed precedent to and in the issuance of this Note, 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 applicable thereto, and
the issuance of this Note does not violate any constitutional, statutory or
ordinance limitation or provision.
This Note shall have all the qualities and incidents of a negotiable
instrUIllent under the law merchant and the laws of the State of Florida.
IN WITNESS WHEREOF, the City of Clearwater, Florida has issued
this Note and has caused the same to be executed by the manual signature
of its City Manager, countersigned by its Mayor-Commission, and attested
by its City Clerk, and the corporate seal of the City to be affixed hereto,
all as of this
day of May, 1980.
CITY OF CLEARWA TER, FLORIDA
. (SEAL)
By
Attest:
City Manager
Countersigned:
City Clerk
Approved as to form and
correctness:
Mayor-Commissioner
City Attorney"
(c) Section 3.01 of the Ordinance is hereby amended to read
as follows:
"Section 3.01 SOURCE OF FA YMENT. The Obligation herein
authorized shall not be or constitute an indebtedness of the Issuer within the-
meaning of any constitutional or statutory limitation of indebtedness, but shall
be payable solely from, and shall be secured by a pledge of and a lien on, the
Franchise Revenues; provided that such lien on and pledge of such Franchise
Revenues shall be subject to (i) all existing pledg-es and liens as of the date
of issuance of the Obligation and (ii) all future pledges and liens of such
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Franchise Revenues to secure future debt of the Issuer; provided that, as of
the date of issuance of any future debt, the amount of such Franchise Revenues
in the Iss~er' s preceding fiscal year, after subtraction of the largest annual
debt service coming due in any future fiscal year on all debt of the Issuer then
outstanding and proposed to be issued secured by such Franchise Revenues
(such debt service to be first reduced by the amount of revenues, other .than
Franchise Revenues which are pledged for payment of such then outstanding
and proposed debt), will be at least 1.5 tiInes the largest annual debt service
coming due in any future fiscal year on the Obligation. No holder of the
Obligation shall ever have the right to compel the exercise of the ad valorem
taxing power of the Issuer or taxation in any form on real property for payment
thereof, but the Obligation shall be payable only from the Franchise Revenues. "
(d) Section 3.02 of the Ordinance is hereby amended to read as
follows:
"Section 3.02 COVENANT TO GENERATE REVENUES. The
Issuer hereby covenants and agrees with the holder of this Note that it will
not repeal the Ordinance levying the Franchise Revenues and will not arnend
or modify such Ordinance in any manner so as to iInpair or adversely affect
the power and obligation of the Is suer to levy and collect the Franchise '
Revenues or iInpair or advers ely affect in any manner the pledge of such
Franchise Revenues or the rights of the holder of the Note. The Issuer shall
be unconditionally and irrevocably obligated so long as the note is outstanding
and unpaid, to levy and collect such franchise revenues, at a maxiInwn rate
permitted by law, to the extent necessary to pay the principal of and interest
on the Note and to make the other payments provided for herein. "
(e) Section 4.01 of the Ordinance is amended to read as follows:
"Section 4.01 CANCELLATION. If, at any tiIne, the Issuer shall
have paid, or shall have made provision for payment of the principal and
interest with respect to the Obligation, in full, to and in the final installment
thereof, then, and in that event, the agreement to pay from Franchis e
Revenues in favor: of the holder of the Obligation shall be no longer in
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effect. For purposes of the preceding sentence, a tender of the full amount
of principal and interest due and to become due, to and including the final
instal1m.ent, on the Obligation or a separate deposit of such full amount in
a separate account shall be considered "provision for payment. " "
SECTION 2. All other sections and provisions of the Ordi. nance not
herein expressly amended, shall remain in full force and effect.
SECTION 3. All ordinances of the City Commission or parts thereof
in conflict with the provisions of this ordinance are, to the extent of such
conflict, hereby superseded and repealed.
SECTION 4. If anyone or more of the covenants, agreements or
provisions herein contained shall 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 reason 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 shall in no way affect the validity of any of the other provisions hereof
or of the Obligation issued hereunder.
SECTION S. Notice of the proposed enactment of this ordinance
has been properly advertised in a newspaper of general circulation in
accordance with Section 166.041, Florida Statutes.
SECTION 6. This ordinance shall take effect immediately upon its
adoption.
PASSED ON FIRST READING
May 29, 1980
PASSED ON SECOND AND FINAL
READING AND ADOPTED
AS AMENDED
June 5, 1980
/s/ Charles F. LeCher
Mayor- Commissioner
Attest:
/ s / Lucille Williams
City Clerk
-6-
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I
I, Mary Sue Lamkin, duly appointed Deputy City Clerk of the
City of Clearwater, Florida, certify the foregoing to be a true and
correct copy of Ordinance No.
2133
adopted by the
City Commission on the
5!th
da y of
June
A. D., 19X 80
Witness my hand and the seal of the City of Clearwater,
~~
da y of
r
, A. D., 19K 80
this
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RESOLUTION
No. 80 - 66
A RESOLUTION AWARDING AND SELLING A PARK
ACQUISITION NOTE, SERIES 1980, OF THE CITY
OF CLEARWATER, FLORIDA, IN THE PRINCIPAL
AMOUNT OF $427, 000, TO THE PURCHASER NAMED
HEREIN, AT THE PRICE OF PAR PLUS ACCRUED
INTEREST; PROVIDING AN EFFECTIVE DATE.
WHEREAS, the City of Clearwater, Florida, has authorized the issuance
of a $427,000 principal amount Park Acquisition Note, Series 1980, pursuant
to Ordinance No. 2124, enacted on May 15, 1980, as amended; and
WHEREAS, the City has received an offer to purchase the note from
the purchaser named below at the price of par plus accrued interest. which
the City finds is advantageouS and in the best interest of the City to accept;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY
COMMISSION OF THE CITY OF CLEAR WATER, FLORIDA,
IN SESSION DULY AND REGULARLY ASSEMBLED, AS
FOI,..LOWS:
1. The City's Park Acquisition Note, Series 1980, dated May 30,
I
1980, in the principal amount of $427.000, as authorized pursuant to Ordinance
No. 2124 of the City Commission of the City. is hereby awarded and sold to'
Barnett Bank of Clearwater, N.A., Clearwater, Florida, at the price of par
plus accrued interest to the date of delivery.
2. The Mayor_Commissioner, City Manager, City Clerk and City
Attorney are each designated agents of the City in connection with the is suance
and delivery of the Park Acquisition Note and are authorized and empowered,
collectively or individually, to take all action and steps and to execute and
deliver any and all instrUIl1ent~, documents or contracts on behalf of the
City which are necessary or desirable in connection with the execution and
delivery of the Park Acquisition Note which are not inconsistent with the
terms and provisions of Ordinance No. 2124, as amended, this resolution
and other action relating to the Park Acquisition Note heretofore taken by
the City.
-1-
-....-
."-.A_ _
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1, Mary Sue Lamkin, duly appointed Deputy City Clerk of the City of
Clearwater, Florida, certify the foregoing to be a true and correct copy
of Res olution No. 80-66
adopted by the City Commission on the
5th
day of
June
, A. D. 1980
Witness my hand and the seal of the City of Clearwater, this
~ -IL day of
r
, A. D. 19 80
% L/~
~ty City Clerk
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3. This resolution shall take effect immediately upon its
adoption.
PASSED AND ADOPTED this
5th
day of June, A. D. 1980.
/s/ Charles F. LeCher
Ma yor- Commis sioner
Attest:
Is / Lucille Williams
City Clerk
-2-
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Excerpts from the City Commission Meeting minutes of June 5,
1980.
"ITEM #26 - Second Reading, Ordinance #2133 - Amending
Ordinance #2124 to Provide that the "Park Acquisition Note,
Series 1980, of the City of Clearwater, Florida," shall be
paid from the Franchise Fees received from the Franchise
granted to Florida Power Corporation.
The City Attorney presented Ordinance #2133, as amended,
for second reading and stated he would read by title only
unless there was a request to read in its entirety. The
Ordinance was read by title only. Commissioner Moore moved
to pass and adopt Ordinance #2133, as amended, on second and
final reading and to authorize the appropriate officials to
execute same. Commissioner Garvey seconded the motion. Upon
roll call the vote was:
"Ayes": Garvey, Moore, Nunamaker, Tenney and LeCher.
"Nays": None."
"Resolution #80-66 - Awarding and Selling a Park Acqui-
sition Note, Series 1980, of the Cit of Clearwater Florida,
in the Princi al Amount of 427,000, to the Purchaser (Barnett
Bank of Clearwater, N.A. at the Price of Par Plus Accrued
Interest.
Commissioner Tenney moved to pass and adopt Resolution
#80-66 and to authorize the appropriate officials to execute
same. Commissioner Moore seconded the motion. Upon roll
call the vote was:
"Ayes": Garvey, Moore, Nunamaker, Tenney and LeCher.
"Nays": None."
I, Lucille Williams, duly appointed City Clerk of
the City of Clearwater, Florida, certify the fore-
going to be a true and correct copy of excerpts
from the minutes of the City Commission meeting of
June 5, 1980, which have not yet been approved by
the Commission.
Witness my hand and the corporate seal of the City
of Clearwater this sixth day of June, 1980.
J)'
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City Clerk
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PUBLIC MEETING CERTIFICATE
STATE OF FLORIDA )
)ss
COUNTY OF PINELLAS)
We, the undersigned members of the City Commission of
the City of Clearwater, Florida, recognizing that the purchaser
of a $427,000 Park Acquisition Note, Series 1980, of the City of
Clearwater, Florida, will have purchased said note in reliance
upon this Certificate, do hereby certify, individually and
cOllectively, that no two or more members of the Commission,
meeting together, reached any prior conclusion as to whether the
actions taken by the Commission, with respect to said note, the
security therefor and the application of the proceeds thereof,
should or should not be taken by the Commission or should or
should not be recommended as an action to be taken or not to be
taken by the Commission, except at public meetings of the
Commission held after due notice to the public was given in the
ordinary manner required by law and custom of the Commission.
IN WITNESS WHEREOF, we have hereunto affixed our offi-
cial signatures this 5th day of June, 1980.
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Sworn to and subscribed before me
this 5th day of June, 1980.
Notary P ~i"c 'j)f ~loKlda
My Comm s:i:(::m.-.E;~p_ir~Sf
Notary Public,'"St4~ of Flort:ll -at Large
My~ommis\ion E~pi(e$'l\u9:-t 1982
ig~<l,:f '111. ,~_rr.c,,~~~ Fu. & C.~y~!,rr Comp.nv.
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OFFICERS CERTIFICATE
We, the undersigned officers of the City of Clearwater,
Florida (the "City"), hereby certify that as of this date there
is no litigation pending or, to our knowledge, threatened in any
court or administrative agency to restrain or enjoin the
issuance, sale, execution or delivery of the City's $427,000 Park
Acquisition Note, Series 1980, dated May 30,1980 (the "Note"),
or the payment, collection or application of the proceeds
thereof, or the payment, collection or application of the
Franchise Revenues pledged pursuant to Ordinance No. 2124, duly
enacted by the City Commission on May 15, 1980, as amended,
authorizing the issuance of the Note (the "Ordinance"), or in any
way contesting or affecting the validity of the Note, the
Ordinance, or the application of the proceeds of the Note or the
payment, collection or application of the Franchise Revenues or
the pledge thereof pursuant to the Ordinance, or contesting the
powers of the City or contesting or affecting any authority for
the issuance of the Note or the Ordinance, or the existence of
the City or the titles of the present officers of the City, or
any of them, to their respective offices, and that none of the
proceedings or authority for the issuance of the Bond has been
repealed, revoked or rescinded.
We further certify that there is no litigation pending,
or to our knowledge threatened, against the City or involving any
of the property or assets under the control of the City which
involve the possibility of any judgment or liability, not fu~ly
covered by insurance or adequate established reserves, which may
result in any material adverse change in the properties, assets
or in the condition, financial or otherwise, of the City other
than (i) suits pending or threatened for inverse condemnation
proceedings or otherwise, involving claims in an aggregate amount
not exceeding $250,000 and (ii) routine litigation of the type
which normally accompanies operations of the City.
We further certify that (a) the names of the members of
the City Commission, and the dates of commencement and expiration
of their respective terms of office are as follows:
Members
Term Began
Term Ends
Charles LeCher
Richard Tenney
William Nunamaker
Rita Garvey
Marvin Moore
February, 1979
February, 1980
February, 1979
February, 1980
February, 1979
February, 1981
February, 1982
February, 1981
February, 1982
February, 1981
(b) All of the above persons have duly filed their
oaths of office and such of them as are required by law to file
bonds or undertakings have duly filed such bonds or undertakings
in the amount and manner required by law.
(c) Charles LeCher is the duly elected
Mayor-Commissioner of the City. He began his term of office as
Mayor-Commissioner in April, 1979 and his term of office will
expire in February, 1981.
~L_ ,..~...... M~....""oV' t"'\T thp Citv.
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(SEAL)
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mmissianer .. - .
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City Clerk
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I hereby certify that the signatures of the above offi-
cers of the City of Clearwater, Florida, which appear above are
true and genuine and that I know said officers and know them to
hold the offices set opposite their names.
8PrI<N grr
(Bank)
JJf71JK
of eLEII-t<UJItTPR IV IJ.
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By
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CITY OF CLEARWATER, FLORIDA
$427,000
PARK ACQUISITION NOTE, SERIES 1980
Dated May 30, 1980
NON-ARBITRAGE CERTIFICATE
The undersigned official of the City of Clearwater,
Florida (the "City"), certifies with respect to the above note
(hereinafter called the "Note"), that the following are reason-
able expectations of the City: .
1. The undersigned, along with other officials of the
City, is charged with the responsibility of issuing the Note.
2. This certificate is made pursuant to Sections 1.103-
13, 1.103-14, and 1.103-15 of the Code of Federal Regulations
promulgated by T.D. 7627 on May 31, 1979 (the "Regulations"), all
with respect to arbitrage bonds as described in Section 103(c) of
the Internal Revenue Code of 1954, as amended (the "Code").
3. The Note is being issued on the date of this cer-
tificate for the purpose of financing the cost of the
acquisition of land for park purposes as described in Ordinance
No. 2124, duly enacted by the City Commission on May 15, 1980, as
amended (the "Ordinance"), and hereinafter referred to as
"Project", as to which part of the estimated cost is $427,000.
4. The City has entered into a contract for purchape of
the land at a purchase price of $700,000. The purchase price has
been paid to the seller from a loan of $427,000 from the City's
General Fund, which will be repaid on the date hereof from the
proceeds of the Note, and from other available funds. The
accrued interest of $533.75 will be spent for interest due on the
Note on November 30, 1980.
5. The City reasonably expects that the Project will
not be sold or otherwise disposed of, in whole or in part, prior
to the last maturity of the Note.
6. The Note is payable from the Franchise Revenues, as
def ined in the Ordinance. That portion of the Franchise Revenues
needed for annual debt service on the Note will be used within 13
months of the date of receipt for payment of principal and
interest on the Note. The City has not established and does not
expect to establish any sinking or similar fund for payment of
principal of or interest on the Note. The City reasonably
expects that the balance of the Franchise Revenues available for
any lawful purpose of the City will not be needed for, and will
be expended for purposes other than, payment of principal of or
interest on the Note.
..
I
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On the basis of the foregoing facts, estimates and rea-
sonable expectations, and the covenants made in the Ordinance
authorizing the Note, it is not expected that the proceeds of the
Note will be used in a manner that would cause the Note to be an
arbitrage bond under Section 103(c) of the Code and the
Regulations. To the best of my knowledge and belief there are no
facts, estimates or circumstances that would materially change
such expectations.
IN WITNESS WHEREOF, the undersigned has executed and
delivered this certificate as of this 6th day of June, 1980.
CITY OF CLEARWATER, FLORIDA
By (flLA F ~
I
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PURCHASER'S CERTIFICATE
We, the undersigned officers of the Barnett Bank of
Clearwater, N.A., Clearwater, Florida (the "Bank"), do hereby
certify that the Park Acquisition Note, Series 1980, dated May
30, 1980, of the City of Clearwater, Florida, in the amount of
$427,000, issued by the City and purchased by the Bank on the
date hereof (the "Note"), is purchased by the Bank for its own
account and the accounts of other related or affiliated banks of
the Barnett System for investment and not with a view to resale
in connection with any distribution thereof, nor with any present
intention of distributing or reselling any part thereof, except
as permitted by law and subject to all applicable regulations of
the Securities Act of 1933, as amended, and the Securities
Exchange Act of 1934, as amended and the rules and regulations
promulgated thereunder: subject, nevertheless, to the condition
that disposition of the Bank's property shall at all times be
within the Bank's control.
I further certify that the Bank has had access to and
has been supplied with all written and oral information,
including financial statements and other financial data of the
City, which it believes is necessary to enable the Bank to make
an investment decision with respect to its purchase of the Note,
and that the Bank has conducted its own inquiry and analysis with
respect to the Note and the security therefor, including the
receipt of answers from knowledgeable individuals to questions
relating to the foregoing matters. Therefore, as an investor of
reasonable sophistication, the Bank has been able to make a fully
informed decision to purchase the Note.
IN WITNESS WHEREOF, we have hereunto affixed our offi-
cial signatures and seal this 6th day of June, 1980.
BARNETT BANK OF CLEARWATER, N.A.
(SEAL)
By
Its:
ATTEST:
Its:
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IS~ECIMENI
. ($427,000), payable in ten (10) equal annual principal payments
of Forty-two Thousand Seven Hundred Dollars ($42,700), due on May
30 of each year in the years 1981 through 1990, and interest on
the unpa id balance thereof, from the date hereof, a t the rate of
nine per centum (9%) per annum, such interest to the maturi ty
hereof being payable semiannually on May 30 and NOvember 30 of
'I)i." each year, commencing on November 30, 1980, and ending on May 30,
,';',1):.: '1990. Principal of and interest on this Note shall be due and
.:i1 . " payable in lawful money of the United States of America at
. -:;- 'i" "Barnett Bank of Clearwater, as paying agent, 1130 Cleveland
.>1::,;'; Street, P. O. Drawer 5128, Clearwater, Florida 33518.
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STATE OF FLORIDA
CITY OF CLEARWATER
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PARK ACQUISITION NPTE, SERIES 1980
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KNOW ALL MEN BY THESE
Clearwater, Florida (hereinafter
received, hereby promises to pay to
the Electric Franchise Revenues,
principal sum of
PRESENTS, that the City of
called "Ci ty" ) , for value
the bearer of this Note, from
as hereinafter defined, the
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FOUR HUNDRED TWENTY-SEVEN THOUSAND DOLLARS
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This Note is a single authorized obligation in the
amount of $427,000.00, issued to finance the cost of the acquisi-
tion of the 37.83 acre Iley/Ruppel Tract to improve the parks and
recreation system of the City under the authority of and in full
compl iance with the Constitution and Statutes of the State of
Florida, including Section 2-81 of the Code of Ordinances of the
Ci ty, Chapter 166, Part II, Florida Statutes, and other appli-
cable provisions of law, and Ordinance No. 2124, duly enacted by
the City Commission of the City on May 15, 1980, as amended, and
is subject to all the terms and conditions of such Ordinance.
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The principal of and interest on this Note is payable
solely from the moneys rece i ved by the Ci ty, for a per iod of
thirty (30) years from July 5, 1966, from Florida Power
Corporation, its legal representatives, successors or assigns,
under the franchise granted pursuant to' Ordinance No. 1091, duly
enacted by the City on July 5, 1966, or any extension or renewal
of said franchise or from any new franchise granting the right to
supply electricity to the City or its inhabitants (hereinafter
referred to as "Electric Franchise Revenues").
The Note may be redeemed at any time prior to maturity,
at the option of the City, in whole at par plus accrued interest
to the redemption date upon at least thirty (30) days prior
notice published in a newspaper of general circulation in the
City of Clearwater, Florida, and given in writing to the paying
agent.
This Note does not consti tute an indebtedness of the
City within the meaning of any constitutional or statutory provi-
sion or limitation of indebtedness and it is expressly agreed by
the holder of this Note that such holder shall never have the
riaht to rfOlnl1;rfOl or t"omnfOll thlQ IQYlQrr,;clQ ,..,F t-hlQ ;o~ u;o1,..,rom' t-;ov;n......
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The Ci ty has covenanted and agreed with the holder of
this Note that it will not repeal the ordinance levying the
Electric Franchise Revenues and will not amend or modify such
ordinance in any manner so as tp impair or adversely affect the
power and obligation of the Ci ty to levy and collect the Electric
Franchise Revenues or impair or adversely affect in any manner
the pledge of such Electric Franchise Revenues or the rights of
the holder of the Note, and that the City shall be uncon-
ditionally and irrevocably obligated, so long as the Note is
outstanding and unpaid, to levy and collect such Electric
Franchise Revenues, a t the max imum ra te permitted by law, to the
extent necessary to pay the principal of and interest on the Note
and to make the other payments required by the Ordinance.
" . :
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The agreement to pay the principal of and interest on
this Note from the Electric Franchise Revenues may be discharged
at or prior to the maturity or redemption of the Note upon the
making of provision for payment thereof on the terms and con-
ditions set forth in the Ordinance.
All acts, conditions and things required to ex ist, to
happen and to be performed precedent to and in the issuance of
this Note, exist, have happened and have been performed in regu-
lar and due form and time as required by the laws and
Constitution of the State of Florida applicable thereto, and the
issuance of this Note does not violate any constitutional, statu-
tory or ordinance limitation or provision.
, "
ii',
This Note shall have all the qual i ties and incidents of
a negotiable instrument under the law merchant and the laws of
the State of Florida.
IN WITNESS WHEREOF, the Ci ty of Clearwater, Florida
issued this Note and has caused the same to be executed by
manual signature of its City Manager, countersigned by
Mayor-Commissioner, and attested by its City Clerk, and the
porate seal of the City to be affixed hereto, all as of this
day of May, 1980.
has
the
its
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30th
CITY OF CLEARWATER, FLORIDA
(SEAL)
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By
City Ma~ ,'~
COUNTERSIGNED~~
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ATTEST:
, '..A~f"
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City Clerk\-~~
APPROVED AS TO~'ANU
CORRECTNESS: ~:.~
, -~,,\
Mayor-Commissioner
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~~III"
OFFICE OF
CITY ATTORNEY
C I T Y
OF
CLEARWATER
POST OFFICE BOX 4748
C LEA R W ATE R, F LOR IDA 3 35 1 8
June 6, 1980
Mayor..Commissioner and Members
of the City Commission
Clearwater, Florida
Freeman, Richardson, Watson,
Slade, Kelly & Livermore, P.A.
1200 Barnett Bank Building
Jacksonville, Florida
Barnett Bank of Clearwater, N.A.
Clearwater, Florida
Re: City of Clearwater, Florida $427,000 Park
Acquisition Note, Series 1980
Honorable Mayor- Commis sioner and
Members of the City Commission:
I have acted as Attorney for the City of Clearwater, Florida
(the "City") in connection with the is suance by the City of $427,000
principal amount of a Park Acquisition Note, Series 1980, dated May
30, 1980 (the "Note"), issued pursuant to Ordinance No. 2124, duly
enacted by the City Commission on May 15, 1980, as amended (herein
collectively called the "Ordinance"). I have examined all proceedings of
the City ComIPission in connection with the authorization, issuance and
sale of the Note by the City, and I am of the opinion that:
1. No additional or further approval, cons ent or authorization
of any governmental or public agency or authority not already obtained is
required by law or the City in connection with (a) the issuance and sale of
the Note or (b) .entry into and performance by the City of its obligations
under the Ordinance with respect to the Note.
2. The Ordinance enacted by the City Commission authorizing
the Note is valid and in force and enforceable by the City in accordance
with its terms, except to the extent that the enforceability ther eof may be
limited by bankruptcy, insolvency'or other laws affecting creditors I rights
generally. .
"Equal Employment and Affirmative Action Employer"
.. ..
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I
Mayor-Commissioner and Members
of the City Commission
-2-
June 6, 1980
3. The undersigned has no knowledge of any legislation enacted
by the 1980 Session of the Florida Legislature that in any manner limits,
restricts or otherwise adversely affects the right and power of the City
to issue the Note or to pledge for the payment of the Note the special funds
so pledged pursuant to the Ordinance.
TAB:br
brelY
(/~A: u
City Attorney
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.JUDSON FREEMAN
RAY W. RICHARDSON, JR.
THOMAS a.SLADE,m
.JOHN F, KELLY
DANIEL U, LIVERMORE, .JR.
A, GRAHAM ALLEN
RICHARD E, KLEIN
JOHN L. MCWilLIAMS, m
.JUDSON FREEMAN, .JR,
ROBERT O. FREEMAN
WILLIAM D. BRINTON
1200 BARNETT BANK BUILDING
GILES .J. PATTERSON
(IB85'1963)
JACKSONVI LLE, FLORIDA 32202
(904) 353.1264
FRANK L. WATSON
OF COUNSEL
June 6, 1980
Mayor-Commissioner
City of Clearwater, Florida
Dear Sir:
We have examined certified copies of the proceedings on
behalf of the City of Clearwater, Florida (the "City"), and other
proofs submitted to us relative to the issuance and sale of
a $427,000 Park Acquisition Note, Series 1980, dated May 30, 1980
(the "Note"). In particular, we have reviewed the Non-Arb i trage
Certificate of even date herewith executed on behalf of the City,
the terms of the Note and its sale to the purchaser, and the pro-
visions of the authorizing instruments and related documents
dealing with the disposition and investment of the proceeds of
the Note and the deposit, investment and use of the revenues
pledged for payment of the Note.
We have also reviewed Section 103(c) of the Internal
Revenue Code of 1954, as amended (the "Code"), and Sections
1.103-13, 1.103-14, and 1.103-15 of the u.S. Treasury Regulations
published and proposed thereunder (the "Regulations").
In our opinion, the Note is not an "arbitrage bond"
within the meaning of the Code and the Regulations.
Respectfully submitted,
JAU~'~I1v~ '~I N-4 ~~l ~{J.
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June 6, 1980
Mayor-Commhaloner allclMemberl
of the City CommildoD
Clearwater, Florida
Freeman, Richardlon, Wat.on,
Slade, Kelly &: Llv.nn~u.'e~,' P.A.
I ZOO Barnett Bank BulleU..
Jacksonville, Florida
Barnett Bank of Clearwater, , N. A.
Clearwater, Florida
/
Re: City of Clearwater, Florida $4Z7, 000 Park
Acquidtion Note. Series 1980
Honorable Mayor- Commie..-loner and
Members of the City COUlmb8i:on:
I have acted a. Attotney for the City of Clearwater, Florida
(the "City") in connection with the ts.uanc:e by the City of $4Z7, 000
principal amount of a PaJ!k Acquilition Note, Series 1980, dated May
30, 1980 (the "Note"), blued purluant to Ordinance No. Zl Z4, duly
enacted by the City Commil.ion on May 15, 1980, as amended (herein
collectively callec:i the "Ordlaance"). I have examined all proceedings of
the City Commi88ion in eQn~ectlon with the authorization, issuance and
sale of the Note by the Cl~y ,and 1 am of the opinion that:
1. No additional or further approval~ c~:)Qsent or authorization
of any governmental 01' public aseDcy or authority not already obtained is
required by law or th~ Chy in cozmection with (a) the issuance and sale of
the Note or (b) entry b~to and performance by the City of it. obligations
under the Ordinance with re.pect to the Note.
z. The Ordinance enacted by the City Commission authorizing
the Note ia valid and in force and enforceable by the City in accordance
with its terms, except to the extent that the enforceability ther eo! may be
limited by bankruptcy, insolvency or other laws affecting creditors' rights
generally.
d- 7 6 ).. d/.o - 'f
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Mayor-Commie.loner and Members
of the City Commie.loD
-z-
June 6, 1980
3. The qaQerslllled has no kraowledae of any legislation enacted
by the 1980 Seelion of th.'Elorlda Le.ldature that in any manner limits,
restricts or othel'wlae actv:erlely affecte the right and power of the City
to issue the Note or to pled,. for the payment of the Note the special fundI
80 pledged pur..at to the.OrcUnuace.
Sincerely yours,
TAB:br
Thomas A. Bus tin
City Attorney
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1200 BARNETT BANK BUILDING
GILES .J. PATTERSON
(1885-1963)
.JUDSON FREEMAN
RAY W. RICHAROSON, JR.
THOMAS B.SLADE,m
.JOHN F. ~ELLY
DANIEL U, LIVERMORE, .JR.
A. GRAHAM ALLEN
RICHARD E. ~LEIN
.JOHN L. McWILLIAMS, m
JUDSON FRE:EMAN, JR.
ROBERT O. FREEMAN
WILLIAM D. BRINTON
JACKSO NVI LLE, HO R IDA 32202
(904) 353-1264
FRANK L. WATSON
OF COUNSEL
June 6, 1980
Mayor-commissioner
City of Clearwater, Florida
Dear Sir:
We have examined certified copies of the proceedings of
the City Commission of the City of Clearwater, Florida
(hereinafter referred to as "City"), and other proofs submitted
to us relative to the issuance and sale of
$427,000
CITY OF CLEARWATER, FLORIDA
PARK ACQUISITION NOTE, SERIES 1980
Dated May 30, 1980
One bearer note, in the denomination of $427,000,
bearing interest at the rate of nine per centum
(9.00%) per annum (payable semiannually on May
30 and November 30 of each year), and maturing
in ten annual principal installments of $42,700
each on May 30 in the years 1981 to 1990, inclu-
sive.
The note is redeemable upon the terms and conditions and
in the manner stated in the note. We have also examined the exe-
cuted note.
The note is issued pursuant to the Constitution and
Statutes of the State of Florida, including particularly Section
2-81 of the Code of Ordinances of the City, Chapter 166, Part II,
Florida Statutes, and other applicable provisions of law, and
Ordinance No. 2124, duly enacted by the Ci ty on 11ay 15, 1980, as
amended (hereinafter collectively referred to as "Ordinance"),
issued to finance the cost of the acquisition of the 37.83 acre
I1ey/Ruppe1 Tract to improve the parks and recreation system of
the City (the "project").
The note and the interest due thereon is payable solely
from the moneys received by the City, for a period of thirty (30)
years from July 5, 1966, from Florida Power Corporation, its
legal representatives, successors or assigns, under the franchise
granted pursuant to Ordinance No. 1091, duly enacted by the City
on July 5, 1966, or any extension or renewal of said franchise or
from any new franchise granting the right to supply electricity
to the City or its inhabitants (hereinafter referred to as
"Electric Franchise Revenues").
The City, in the Ordinance, has covenanted and agreed
with the holder of the note that it will not repeal the ordinance
levying the Electric Franchise Revenues and will not amend or
modify such ordinance in any manner so as to impair or adversely
affect the power and obligation of the City to levy and collect
the Electric Franchise Revenues or impair or adversely affect in
any manner the pledge of such Electric Franchise Revenues or the
rights of the holder of the note. The City shall be uncon-
I
I
[Letterhead of Thomas Bustin, City Attorney]
June 6, 1980
Mayor-Commissioner and Members
of the City Commission
City of Clearwater, Florida
Barnett Bank of Clearwater, N.A.
Clearwater, Florida
Freeman, Richardson, Watson,
Slade, Kelly & Livermore, P. A.
1200 Barnett Bank Building
Jacksonville, Florida
Re: City of Clearwater, Florida $427,000 Park
Acquisition Note, Series 1980
Honorable Mayor-Commissioners and
Members of the City Commission:
I have acted as Attorney for the City of Clearwater,
Florida (the "City") in connection with the issuance by the City
of $427,000 principal amount of a Park Acquisition Note, Se~ies
1980, dated May 30, 1980 (the "Note"), issued pursuant to
Ordinance No. 2124, duly enacted by the City Commission on May
15, 1980, as amended (herein collectively called the
"Ordinance"). I have examined all proceedings of the City
Commission in connection with the authorization, issuance and
sale of the Note by the City, and I am of the opinion that:
1. No additional or further approval, consent or
authorization of any governmental or public agency or authority
not already obtained is required by law or the City in connection
with (a) the issuance and sale of the Note or (b) entry into and
performance by the City of its obligations under the Ordinance
with respect to the Note.
2. The Ordinance enacted by the City Commission
authorizing the Note is valid and in force and enforceable by the
City in accordance with its terms, except to the extent that the
enforceability thereof may be limited by bankruptcy, insolvency
or other laws affecting creditors' rights generally.
3. The undersigned has no knowledge of any legislation
enacted by the 1980 Session of the Florida Legislature that in
any manner limits, restricts or otherwise adversely affects the
right and power of the City to issue the Note or to pledge for
the payment of the Note the special funds so pledged pursuant to
the Ordinance.
~
Very truly yours,
",-":--
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~~,~,~~~~~flJ.d.
JUDSON FREEMAN
RAY W. RICHARDSON, JR.
THOMAS B.SLADE,m
JOHN F. KELLY
DANIEL U, LIVERMORE, JR.
A. GRAHAM ALLEN
RICHARD E. KLEIN
JOH N L. McWILLIAMS, ill
JUDSON FREEMAN, JR.
ROBERT O. FREEMAN
WILLIAM D. BRINTON
1200 BARNETT BANK BUILDING
GILES J. PATTERSON
(1885-1963)
JACKSONVILLE, FLORIDA 32202
(904) 353.1264
FRAN K L. WATSO N
OF COUNSEL
June 4, 1980
Thomas A. Bustin, Esquire
City Attorney
112 S. Osceola
Clearwater, Florida 33518
Re: City of Clearwater $427,000 Park Acquisition
Note, Series 1980
Dear Tom:
Enclosed please find a resolution awarding the above-
referenced note to be adopted on June 5.
Also enclosed please find a closing document list and
four (4) sets of closing documents for execution for the closing
to be held in Clearwater on June 6. I have certified copies of
Ordinances numbered 2124 and 2133, but will need a certified copy
of the resolution of award at the Closing.
Also enclosed is a form of your opinion.
any questions on the substance please call.
If you have
I will be attending the closing on Friday and will bring
our opinions, the Note for execution and the specimen notes. If
you have any changes in any of the documents, please contact
Brenda as I will be out of town until late Thursday.
Very truly yours,
D~ivermore.
Jr.
DULJr:b
Enclosures
cc: Mr. Tim Lane (w/encl.)
Bill King, Esquire (w/encl.)
,R-rCEIVED
JIJ ~ ~ 1980
trry ATTORNEYj
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JOHNSON, BLAKELY, POPE, BOKOR & RUPPEL, P. A.
ATTORNEYS AND COUNSELLORS AT LAW
911 CHESTNUT STREET
JOHN T. BLAKELY
BRUCE H. BOKOR
ELIZABETH J. DANIELS
ELLEN L. FOWLER
TIMOTHY A, JOHNSON, JR.
r. WALLACE POPE, JR.
DENNIS G. RUPPEL
JOEL R. TEW
POST OrFlCE BOX 1368
TELEPHONE
AREA CODE 813
461-1818
CLEARWATER, FLORIDA 33517
June 10, 1980
Thomas A. Bustin, Esquire
City Attorney
Third Floor
City Hall
112 South Osceola
Clearwater, Florida
JUN t, 1980
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Re: Purchase of approximately 37.83 acres of land at NW corner
of McMullen-Booth and Drew Street extended.
Dear Mr. Bustin:
Please find enclosed the following:
1. Original recorded warranty deed from G. Patrick Iley and
Jacqueline H. Iley, his wife, to the City of Clearwater.
2. Original recorded warranty deed from George Ruppel and
Sandra J. Ruppel, his wife, to the City of Clearwater.
3. Original recorded warranty deed from G. Patrick Iley
and Jacqueline H. Iley, his wife, and George Ruppel and Sandra
Ruppel, his wife, to the City of Clearwater.
4. Original recorded quit-claim deed from G. Patrick Iley
and Jacqueline H. Iley, his wife, and George Ruppel and Sandra
J. Ruppel, his wife, to the city of Clearwater.
5. Copy of satisfaction of that mortgage from G. Patrick
Iley and Jacqueline H. Iley, his wife, to Irene Jordan.
6. Copy of recorded satisfaction of that mortgage from
G. Patrick Iley and Jacqueline H. Iley, his wife, and George
Ruppel and Sandra Ruppel, his wife, to Robert R. Meador, Jr.
7. Copy of re-recorded satisfaction of that mortgage from
G. Patrick Iley and Jacqueline H. Iley, his wife, to Howard C.
Metzger and Dorothy A. Metzger, his wife.
8. Original closing statement.
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JOHNSON,
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BLAKELY, POPE, BOKOR & RUPPEL, P. A.
ATTORNEYS AND COUNSELLORS AT LAW
I
Thomas A. Bustin, Esquire
June 10, 1980
Page Two
We will be able to prepare the final title insurance policy
and forward it to you upon receipt of our up-dating title search
from Commonwealth Land Title Insurance Company.
Please contact me if you have any questions.
Very truly yours,
JOHNSON, BLAKELY, POPE,
~.RU PEL, P.A.
Dennls'G. Rup
DGRjab
Enc.
cc: Mr. George Ruppel
Mr. G. Patrick Iley
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CLEARWATER, FLORIDA
$427,000 PARK ACQUISITION NOTE, SERIES 1980
Dated May 30, 1980
CLOSING DOCUMENT LIST
June 6, 1980
1. Certified copies of:
(a). Ordinance No. 2124 authorizing the Note
(b) Ordinance No. 2133, amending Ordinance No. 2124
(c) Resolution awarding Note, adopted on June 5, 1980
(d) Minutes of Meeting of June 5, 1980
(e) Proof of Publication of public hearing re
amending Ordinance
2. Pub 1 ic Meeting Certificate
3. Off icer Certificate
4. Non-Arbitrage Certif ica te
5. purchaser's Certif ica te
6. Specimen Note
7. Opinion of City At torne y
8. Opinion of Bond Counsel re arb i trage
9. Opinion of Bond Counsel
c...____~_-_._-