96-58� -�
RESOULTION NO. 96-58
A RESOLViION OF Ti� CITY OF CLEARWATER,
FLORIDA ESTABLISHING ITS �TTENT TO
REIMBURSE CER�'AIN PROJECT COSTS INCiJRRED
WITH PRrJCEEI?S OF FUTURE TAX EXEMPT
FINANCIlVG; FRO�IDE CERTt�IN OTE�R
i1RATTERS IN CONNEC'I'iON THEREWIT�i; AND
I'ROVIDING AN EFFECTIVE I3ATE.
wI�EREAS, the City Commission of the city of Clearwater, Florida (the
"Issuer") has determined that 1he need exists to acquire certain items of equipment
during the 1996-1997 fiscal year;
NOW, THEREFORE, BE TT RESOLVED BY Tf� CITY CONiMISSION OF
TFiIE CITY t�F CL�tWA'i�ER, FLOidIDA'TIiAT:
SE�'TION 1. AiJTY-IORI�' i'. 'This resoIution (hereinafter cailed 4he
c LIGJii'IULIOIi��� is adopi.ed pursuant �to the provisions oi� the Florida Constitution, Chaptee
165, �darida Statutes, and oiher applicable provisions of law.
SECTION 2. I3ECLARATIDN OF INTENT. The Issuer hereby expresses iCs
antentioa to be reimbursed from proceeds of a futuce tax-exempt finaacixag for capital
�ndihires to be paid by tl�e Issuer in connection with 4lse acquisition of equiprrc�nt as set
forth iai the Issuer's 1996-1997 fiscal year budget, as amended and supplemented &om
time to tiHn� (the "Project"�. 'i'fee issu�r int�nds on acquiring eaoh item of equipment
constitutin� a gortion of the Project with funds then on deposit in the Issuer's banlc
account, anr� within a reasonable time thereafter refinancin� such purchases within le�se
gurchase financing with i'aE Capital Public Finance pursuant to a master lease purci�ase
agre�ment. IL is not re�sonably expected that Yhe toial amount of debt to be ineurred by the
Issuer to reimburse i4self for expenditures paid �vath respect to the Praject wi11 exceeci
�3,988,�00. Tiiis resolution is intended ta constitut.� a"deciara4ion of of�iciat intent"
withir► the meaning of Section 1.150-2 of ttfe Income Tax Itegulations.
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SECTION 3. SEVERABILTTY. If any ons or more o: the provisians of this
Ftesolution shall for any reason be held illegal or invalid, such illegality or invalidity sh�ll
not affect any constnzed and enforced as if such iilegal or ia�valid provesions had not been
contained therein.
SECTION 4. REPEALING CLAUSE, All resolutions or orders and parts thereof
conflict herewi4h to the extent of such conflicts, are hereby superseded and repealed.
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SECTION 5. EFF'ECTIVE DATE. This resolution shall take ef%ct
immediately upon its adoption this 5th day of September , 1996.
_ CTI'Y OF CLEARWATER, FLORIDA
Rita iiarvey, Mayor-Co ' sioner
(S��)
,����:
_.__� 1
C '� E. K`ioudeau, City Clerk
t�pproved as to forna and iegal suPficiency:
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Pameta �. Akin, City Attorney
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