94-54RESOLUTION NO. 94 -54
A RESOLUTION OF THE CITY OF CLEARWATER,
FLORIDA EXPRESSING THE INTENT OF THE CITY TO
EXPAND ITS MUNICIPAL GAS SYSTEM INTO THE
UNINCORPORATED AREAS OF PASCO COUNTY, FLORIDA
AND CERTAIN MUNICIPALITIES LOCATED THEREIN
PURSUANT TO SECTION 180.03, FLORIDA STATUTES;
ESTABLISHING ITS INTENT TO REIMBURSE CERTAIN
PROJECT COSTS INCURRED WITH PROCEEDS OF FUTURE
TAX- EXEMPT FINANCING; PROVIDING CERTAIN OTHER
MATTERS IN CONNECTION THEREWITH; AND PROVIDING
AN EFFECTIVE DATE.
WHEREAS, the City Commission of the City of Clearwater,
Florida (the "Issuer ") has determined that the need exists to
construct certain capital improvements consisting of the purchase
and installation of gas pipeline equipment, additional pipelines
and related facilities and equipment to expand the current service
area of the Issuer's gas system (the "System ") to serve additional
areas in the unincorporated areas of Pasco County, Florida and in
the municipal limits of certain consenting municipalities located
in Pasco County, Florida (collectively, the "Pasco County
Project ");
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE
CITY OF CLEARWATER, FLORIDA THAT:
SECTION 1. AUTHORITY. This Resolution (hereinafter called
the "Resolution ") is adopted pursuant to the provisions of the
Florida Constitution, Chapter 166, Florida Statutes, Chapter 184,
Florida Statutes, particularly Section 180.03, Florida Statutes,
and other applicable provisions of law.
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SECTION 2. EXPRESSION OF INTENT TO EXERCISE POWERS PURSUANT
TO CHAPTER 180, FLORIDA STATUTES. The Issuer hereby expresses its
intention to exercise its municipal powers to operate the Issuer's
municipal gas system (known as "City Gas ") in the unincorporated
area of Pasco County, Florida, and in such municipalities located
therein, including but not limited to the City of Port Richey and
the City of New Port Richey, who agree to the exercise of the
Issuer's municipal powers in the operation of the System within
their municipal boundaries pursuant to one or more interlocal
agreements between the Issuer and such municipalities. The
expansion of the System constituting the Pasco County Projects will
serve residential, commercial and industrial customers. The Issuer
intends to issue its not to exceed $26,750,000 Gas System Revenue
Bonds, in one or more series (the "Bonds ") , to finance the cost of
the Pasco County Projects, and by Section 3 of this Resolution,
authorizes the expenditure of other legally available funds of the
Issuer to pay the cost of the Pasco County Project until the Bonds
are issued.
SECTION 3. DECLARATION OF INTENT. The Issuer hereby expresses
its intention to be reimbursed from proceeds of a future tax - exempt
financing for capital expenditures to be paid by the Issuer in
connection with the construction of the Pasco County Project.
Pending reimbursement, the Issuer expects to use funds on deposit
in the Capital Improvement Fund maintained in the System enterprise
fund and funded from revenues of the system to pay costs of the
Pasco County Project. it is not reasonably expected that the total
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amount of debt to be incurred by the Issuer to reimburse itself for
expenditures paid with respect to the Project will exceed
$25,750,000. This Resolution is intended to constitute a
10declaration of official intent" within the meaning of Section
1.150 -2 of the Income Tax Regulations.
SECTION 4. PUBLIC HEARING. Pursuant to Section 180.03(2),
Florida Statutes, the Issuer will hold a public hearing regarding
the Issuer's expression of its intent to exercise its municipal
powers pursuant to Chapter 180, Florida Statutes, on August 18,
1994, regardless of whether the Issuer has actually any written
objection to such exercise prior to such date.
SECTION 5. SEVERABILITY. If any one or more of the provisions
of this Resolution shall for any reason be held illegal or invalid,
such illegality or invalidity shall not affect any other provision
of this Resolution, but this Resolution shall be construed and
enforced as if such illegal or invalid provision had not been
contained therein.
SECTION b. REPEALING CLAUSE. All resolutions or orders and
parts thereof in conflict herewith to the extent of such conflicts,
are hereby superseded and repealed.
SECTION 7. EFFECTIVE DATE. This resolution shall take effect
immediately upon its adoption.
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Passed and adopted by the City Commission of the City of
Clearwater, Florida, this 21St day of July , 1994.
( SF:,L) By:
Mayor Rita Garvey
ATTEST:
a-,�'5' i - 1� n,
Cit Clerk
Cyn is E. Goudeau
Approved as to form and
legal sufficiency:
A n Z imm t
Interim y Attorney
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