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ORDINANCE NO .
AN ORDINANCE PROVIDING FOR THE ISSUANCE OF
$600, 000.00 IN REVENUE CERTIFICATES OF THE
CITY OF ZEPHYRHILLS, PASCO COUNTY, FLORIDA, .
IN ANTICIPATION OF A CIGARETTE TAX HERETO-
FORE ENACTED, NET WATER REVENUES AND UTILITY
TAX INCOME OF SAID CITY; AND FOR THE PURPOSE
OF PAYING THE COST OF CONSTRUCTION OF A
SEWERAGE SYSTEM AND SEWAGE TREATMENT PLANT,
AND MAINTENANCE OF SAME, FOR THE CITY OF
ZEPHYRHILLS, FLORIDA; AND THE EXPRESSING OF
CERTAIN COVENANTS AND UNDERTAKINGS ON BEHALF
OF SAID CITY FOR SECURITY AND PAYMENT OF SUCH
REVENUE CERTIFICATES.
WHEREAS , the City of Zephyrhills, in Pasco County,
Florida, is .a municipal corporation, duly organized, existing,
governed by, and acting under Charter granted by the State of
Florida , as reflected by new City Charter granted by Chapter
31377, Special Acts of Florida, 1955 ; and
WHEREAS, heretofore, in pursuance to the provisions
of Florida Statutes ; Section 210.03, F.S .A. , the said City
by Ordinance No. 162, duly passed and enacted June 27, 1963,
has been imposing certain taxes upon the sale of cigarette
sold within the city limits of the City of Zephyrhills,
Florida, which said monies realized from the tax, as afore-
said, has, in pursuance of Florida Statutes , Section 210.20,
F.S .A. , been paid in to the State Treasury of the State of
Florida, into a fund designated as "Tax Collection Fund" ,
and the State of Florida has been remitting to the City of
Zephyrhills, an amount each month equal to the amount of
taxes collected within the said City, in pursuance of said
Ordinance, and the said City will continue to impose and
collect taxes upon the sale of cigarettes sold within said
City, in pursuance of said Ordinance No. 162 , and
WHEREAS , the said City also collects a utility tax
from utilities provided within the City of Zephyrhills , and
revenues from the City Water System, and
WHEREAS , the said cigarette tax, utility tax, and water
revenues are free of all pledges , and based upon the total
amount of revenues received therefrom, the City of Zephyrhi is
is assured of an amount of not less than $90, 000,00 annually,
and such will be more than ample to pay the interest on, and
the retirement of, the Revenue Certificates herein authorized ;
and
WHEREAS , the City Council of the City of Zephyrhills
has previously secured a Need and Feasibility Report of a
sanitary sewerage system for the City of Zephyrhills , said
Report recommending the installation of an adequate Sanitary
Sewerage Collection and Treatment System, as the same was
necessary to protect the health of the residents:-of the City
of Zephyrhilis , and to allow for the future,. proper and ord�rly
growth of said City, and
WHEREAS, the City Council of the City of Zephyrhills
has been authorized by registered, qualified, freeholders o
the City of Zephyrhills, by a Special Election held on May 31,
1966, to expend the sum of $1, 378 , 719.00 to pay the cost of
the construction of said Sewage Disposal System and Sewage
Treatment Plant, and
WHEREAS, the entire cost for the first phase of con-
struction of such Sewage Disposal System and Sewage Treatment
Plant is in the sum of $600, 000.00-, and
WHEREAS, the City Council of the City of Zephyrhills
has decided to borrow the said sum of $600,000.00, through
the issuance and sale of Anticipation Revenue Certificates
in the sum of $600,.000.00, as hereinafter authorized;
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF
THE CITY OF ZEPHYRHILLS, PASCO COUNTY, FLORIDA, as follows :
SECTION 1: It is, hereby, ascertained, determined and
declared that:
2.
(a. ) The City of Zephyrhills , Pasco County, Florida,.
now has a .eigarette tax ordinance, to-wit: Ordinance No. 162 ,
which was duly passed and adopted June 27, 1963, in pursuance
of Florida Statutes, Section 210.03 F.S.A. ,. whereby the cigarette
tax paid, in pursuance of said Ordinance is paid to the Sta e
of Florida, who, in turn, remits to the City of Zephyrhills,
an amount equal to the amount of taxes collected in the Cit
of Zephyrhills.
(b..) The net receipts by reason of the said cigarette
tax and net water revenues , and the amounts received by reason
thereof, during the last four fiscal years , has amounted to
the following sumst
FISCAL YEARS NET CIGARETTE NET WATER
ENDING TAX REVENUE REVENUES
March 31,. 1963 $23, 675..00 $34, 623.94
March 31,. 1964 $35, 539 .14 $40, 289.70
March 31, 1965 $40,886.43 $40,892.15
March 31, 1966 $42, 240.65 $431757.40
and the revenues of the said cigarette tax and water reven es
have not been pledged, either in whole or in part, to the pay- .
ment of any outstanding bonds or other obligations of the
City. That in addition thereto, the Utility Tax Income of
said City is also pledged, in part, covering an amount suf i-
cient with the revenue from the cigarette tax fund and net
water revenues, so that said total estimated net revenues in
each fiscal year, after the construction of the Sewage Disposal
System and Sewage Treatment Plant, above mentioned, is in
excess of the amount to become due in such fiscal year for
principal and interest on these certificates hereinafter p o-
vided for.
SECTION 2, To aid and finance the construction of he
project, the City Council of the City of Zephyrhills, Pasco
County, Florida, hereby, authorizes the issuance of Tax AntJi-
cipation Revenue Certificates of the City of Zephyrhills
(hereinafter called the Revenue Certificates) , in the aggre-
i
gate principal amount of $600, 000.00.
3•
The said Revenue Certificates shall be dated 'P'" , /
196_, and shall be in the following denominations and numbers
respectively:
NUMBER OF . AMOUNT OF
CERTIFICATES CERTIFICATE NUMBERS EACH TOTAL
500 Numbered 1 to 500,
inclusive..-4. $1,000.00 $500,,000 00
190 Numbered 501 to 690,
inclusive. . $ 500.00 $ 95 , 000 00
50 Numbered 691 to 740,
inclusive. .. $ ' 100.00 $ 5, 000.,00
and shall bear interest at the rate of five percent (5%) per
annum, payable semi-annually, commencing one year from date
shown on Revenue Certificates. That said interest payment
checks shall be mailed by said City on April 1 and October 1
of each year.. That said Revenue Certificates shall mature
and become due and payable Twenty (20) Years from the date
of said Revenue Certificates, provided, however, the right
is, hereby, expressly reserved by the City of Zephyrhills ,.
to recall in whole, or in part, any of the said Revenue
Certificates remaining outstanding on any interest payment
date, upon terms of par and accrued interest., and without
payment of any interest therefor.
The Mayor and President of the City Council are, her by,
authorized to execute said Revenue Certificates in the name
of the City, and the City Clerk is, hereby, authorized and
directed to affix the seal of the City to the said Revenue
Certificates, and attest such seal. The said Revenue Certi-
ficates herein authorized shall be and are placed in custod
of the City Clerk, who shall place said Revenue Certificates
in the vault of the City Hall, and the City Clerk is, hereby,
authorized to deliver all, or any part, as said City Council
from time to time may deem advisable, upon receipt of payme t
therefor.
SECTION 3. The Revenue Certificates shall be substa -
i
tially in the following form, to-wit:
4.
NO .
UNITED STATES OF AMERICA
STATE OF FLORIDA
COUNTY OF PASCO
CITY OF ZEPHYRHILLS
CITY OF ZEPHYRHILLS ANTICIPATION REVENUE CERTIFICATES
THIS IS TO CERTIFY that the City of Zephyrhills, a
Municipal Corporation, duly organized and operating under
the Constitution and the Laws of the state of Florida, is
justly indebted, and for value received, hereby, promises
to pay to the BEARER, the sum of
(4 ) , lawful money of the United States of America,
on or before, , 19 , with interest at the
rate of five percent (5%) per annum, payable semi-annually,
commencing one year from date shown on Revenue Certificates ,
said payments to be made on April 1 and October 1 of each
year.
This Certificate is one of a series of Seven Hundred
Forty (740) Certificates, of various amounts, but the tenor
and maturity date all being the same, and the total principal
amount being Six Hundred Thousand Dollars $600, 000,00) , alk
issued by virtue of authority granted by City 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 issuance to this Certificate, exist, have
happened, and have been performed in regular and due form,
and time, as required by the Constitution and Laws of the
state of Florida applicable thereto, in that the issuance of
this Certificate, and the issuance of the Certificates of which
this Certificate is one, does not violate any Constitutional
or Statutory limitation.
5.
This • Certificate has all the qualities and incidents
of a negotiable instrument under the negotiable instruments
laws of the state of Florida, and the original holder, and
each successive holder of this Certificate shall be conclu-
sively deemed by his acceptance thereof, to have agreed tha
this Certificate shall be and have all the qualities and in-
cidents of negotiable instruments under the negotiable inst u-
ments laws of the state of Florida.
This Certificate and the issue of which it is one, is
issued to aid in the financing of the construction of a Se age
Treatment Plant and Sewage Disposal System, and are payable
only from a sinking fund which there shall be set aside, a-d
in approximately equal monthly installments out of the revenues
and income derived from cigarette taxes , net water revenues
and utility tax income, as aforementioned,. such sums as shall
be sufficient for the payment of interest on,. and the principal,
Certificates, as the same respectively shall becom
of said Cer , p y
due, and this Certificate, together with all the Certificates
of the issue of which this Certificate is one, and the interest
thereon, are secured by a pledge of revenues set aside in aid
sinking fund. This Certificate and the interest thereon a e
not payable from, nor a charge upon, any fund other than t e
revenues pledged to the payment thereof, and shall not impose
a tax liability on any real or personal property in the City
of Zephyrhills, or constitute a debt against said City, and
the holder shall never have the right to require or comet he
exercise of the ad valerom taxing power of said City., .or t1ie
taxation of Real Estate in said City, or the making of any
sinking funds reserve, or any other similar funds , other than
that provided for in this Ordinance.
IN WITNESS WHEREOF, the City of Zephyrhills, Florida,
a Municipal corporation, organized and existing under the
Constitution and Laws of the state of Florida, acting by and
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through its duly authorized officers, in open session, has
caused this Revenue Certificate to be signed by the Mayor
and the President of the City Council of said City of Zephy
hills, Pasco Count Florida, and attested and countersigned
Yt
by the City Clerk, and to be officially sealed as of the
day of A.D. , 196
�rrt ez CITY OF ZEPHYRHILLS
5 By
Mayor
President of City Council
(SEAL)
Attest:
City Clerk
SECTION it. The Revenue Certificates hereby authorized
may be registered as to principal in accordance with the pro-
visions for registration, as provided by the City Clerk of
Zephyrhills , and the City Clerk of Zephyrhills is ,. hereby,
appointed and designated as Registrar for such purpose.. No
charge shall be made for the registration or transfer.
SECTION 5 . The Revenue Certificates herein authoriz d
shall be negotiated and sold in such manner, at such time or
times, and upon such terms as may be determined by the City
Council to be for the best interest of the City, and as may
be evidenced by supplemental resolution, or resolutions, in
the interest of the City, hereafter adopted by said City
Council.
SECTION 6. The proceeds to be received through the
negotiation and sale of said Revenue Certificates shall be
applied to and for the purpose of,. paying for the construction
of a Sewage Treatment Plant and Sewage Disposal System, here-
i
inbefore more generally described.
SECTION 7. There shall be and there is, hereby,. created
a special fund, to be known as "1966 Sewerage System Sinking
Fund" (hereinafter called the "sinking fund" ) , into which there
7.
shall be set apart and paid from and after the date of the
issuance of any of said Revenue Certificates each month,.
from the proceeds of the revenues herein pledged, amounts
sufficient for the payment when due of the interest on,
and the principal of said revenue certificates, when same
mature, and also creating and thereafter maintaining a
reserve therefor.
The City of Zephyrhills , hereby, reserves the right
to issue additional revenue certificates and to pledge pro-
ceeds of said cigarette tax, water revenues and utility to
income to secure same, and said certificates shall be on
parity with the certificates 'authorizedby this Ordinance,
provided, however, that said revenues at that time are suffi-
cient to warrant the imposition of an additional pledge, and
further provided, that the sinking fund and reserve herein
authorized is maintained so that the proportionate amount paid
into said sinking fund to secure the Revenue Certificates
herein authorized,, is not reduced.
Whenever additional parity revenue certificates are
issued, provision shall be made for increasing the amounts
to be set aside and paid into the sinking fund by amount
equal to the average annual interest and principal payment
therefor becoming due by reason of such additional revenue
certificates.
All monies set apart and paid into said sinking fund
shall be sized solely and only, and is , hereby,. pledged for the
purpose of paying the revenue certificates and interest there-
on, hereby, authorized, and any additional parity revenue
certificates and the proceeds of the cigarette tax in any
month in excess of the amount required to be so set apart tnd
paid into the sinking fund may be used and disbursed for any
purpose as set forth in the Statute and/or Ordinance authorizing
the imposition of such taxes or revenues , provided, that the
amount in the sinking fund is in an amount equal to, and in
conformance with, the amount authorized by this Ordinance,
8 .
SECTION 8. The certificates and interest thereon shall
be payable from a sinking fund provided therefor, as herein bove
set forth, and not otherwise, and shall be a lien upon and
pledge of revenues set aside in said sinking fund. Nothing
in this Ordinance shall be deemed to create any encumbrance,
mortgage or other pledge or charge upon any property or funds
of the City, other than the revenues pledged to the payment of
the certificates as herein provided, nor to impose any tax
liability upon any real or personal property in said City,
nor to constitute a debt against said City, and the holder,
or holders, of the certificates herein authorized shall never
have the right to require or compel the exercise of the ad
valorem taxing power of the City, or the taxation of real
estate in said City, or the making of any sinking funds reserve
or other similar funds, other than that provided for in thi
Ordinance*
SECTION 9. The provisions of Florida Statutes, Sect on
210.03, F. S.A. , and Ordinance No. 162 of the City of Zephyr-'
hills, enacted pursuant thereto, imposing and providing for
the collection of a cigarette tax, as well as the provision
of this Ordinance, shall constitute a contract between said
City and the holders of the Revenue Certificates that may b
issued and outstanding hereunder, and if any section, para-
graph, clause or provision of this Ordinance shall be ruled
by any court of competent jurisdiction to be invalid, the
invalidity of such section, paragraph, clause or provision
shall not affect the remaining provisions .
SECTION 10* All ordinances, resolutions and orders,
or parts thereof, in conflict with the provisions of this
Ordinance, are to the extent of such conflict, repealed,.
The foregoing Ordinance No. / U was read and passe
�r as 4" on its first reading by the City Council of Zephyrhills, Pasco
f �s
Cp ty, Florida, on the 7 - day of 1:::-?c ---- 1966.
1
�-
'Lv:--�__/President of City Council
, �4< .' test /President
/
ty Clerk
9
The foregoing Ordinance No.g � was read and passed
II
qs
PY�(l'
rKor s second reading by the City Council of Zephyrhills,
Pasco County, Florida, on the day of , 1966.
,� t/ '"_-------�o"�
c f
i
President of City Council
.y y.f a cn ri Li f r
Attest
City Clerk L "
The foregoing Ordinance No. / 51 L— was read and passed
...on its third reading by the City Council of Zephyrhills,
County, Florida, on the / -1966.
C V�
Q f Y 1 S ji
/I
� � �. ; �I,�{ Pr ident of Ci Council
ty Clerk
The foregoing Ordinance No. / 3 L was approved by m
this / day of / '4T )P /)P / , 1966 .
4) /) (
Mayor
10.
I,
This is -to certify that Ordinance # : has
been posted on two punlic places;, namely the
City Hall and the U.S.Post Office for a
period of fifteen days. The -Ordinance -was
posted in the City Hall and the U.S.Post
Office on February 15, 1967 and remained in
said City Hall and U.S.Post 'Office until
March 8, 1967.
John Phillips,Jr.
City Clerk
Zephyrhills, Florida
7