Ordinance 221 ORDINANCE ~~221
AN ORDINANCE PROVIDING FOR ADDITIONS, IMPROVE-
MENTS AND EXTENSION OF T:EIE WATERWORKS SYSTEM
OF THE CITY OF LONGWOOD, FLORIDA; PROVIDING FOR
THE ISSUANCE OF $125,000.00 WATERWORKS SYSTEM IM-
PROVEMENT NOTE OF THE CITY OF LONGWOOD, FLORIDA;
PROVIDING-FOR THE SECURITY AND PAYMENT THEREOF
AND MAKING CERTAIN COVENANTS AND AGREEMENTS IN
THAT CONNECTION.
BE IT ENACTED BY THE CITY COUNCIL OF THE CITY OF
LONGWOOD, FLORIDA, that:
SECTION 1. AIJTH.ORITY FOR THIS ORDINANCE. This ordin-
ance is adopted pursuant to the provisions of Chapter 9825, Laws of
F-~ Florida, Acts of 1923, as amended, being the Charter of the City
of Longwood, Florida,, Section 167.+31, Florida, Statutes, City of
New Smyrna Beach v. State of Floridan 132 So. Zd 151, and other
applicable provisions of law.
SECTION 2. FINDINGS. It is hereby ascertained, deter
mined and declared that:
A. The City `of Longwood, Florida, (herein-
after called "City"), now owns, operates and maintains a water-
works system (hereinafter called the "System"), for the benefit of
i
its inhabitants. The waterworks system has become inadequate to
the needs. of the City and it has become urgently necessary to make
certain additions, improvements and extensions to said waterworks
system (such addition, improvement and extension are hereinafter
sometimes referred to as the ''project"), all in accordance with
the plans and specifications of A. E. O'NEILL ASSOCIATES, INC., II
I
consulting engineers, now_on file or to be filed with the City
Clerk.
B. That pursuant to said Section 167.431,
Florida Statutes, and other applicable provisions of law, the City
of Longwood has heretofore enacted an ordinance under date of
,l~
October 5,_1945, levying a tax on -each and every purchase of
electricity, metered or bottled gas (natural., liquified petroleum
gas or manufactured), water service and telephone service within
the corporate limits of said City, in the amount as provided. in
said ordinance of the payments received by the seller of such
utilities services from the purchaser of such utilities services,
and said utilities services taxes are not pledged or encumbered
in any manner except that the said utilities services taxes have
been. pledged to the payment of Street and Water Improvement Bonds
of 1959, dated December 1, .1959, now outstanding in the amount of
. $35,000. The payment of a1T outstanding bonds have been called
for redemption and the payment of the bonds and interest accrued
or to accrue has been duly provided for by the City of Longwood,
Florida.
C. The revenues to be derived by the City
from the operation of the system have not been heretofore pledged
or hypothecated except that the surplus net revenues of the system
have been pledged to the payment of Street and Water Improvement
Bonds of 1959, dated December 1, 1959, now outstanding in the
amount of $35,000. The payment of all of said outstanding bonds
have been called for redemption anal the payment of said bonds and
interest accrza.ed or to accrue has been duly provided for by the
City of Longwood, Florida.
D. That the principal of and interest on the
waterworks system improvement Note. to be issued pursuant to this
Ordinance will be paid solely fro~~ the revenue resulting from the
operation of the waterworks system and the water utilities serv-
ices taxes, and it will never be necessary or authorized to levy
taxes on any :real property in saidl City to pay the principal of ~
~r
and interest on the Waterworks Sy~~tem Improvement Note to be
-2: -
i
issued pursuant to this Ordinance, and the Waterworks System Im-
provement Note, issued pursuant to this Ordinance, shall not con-
stitute a lien upon any of the properties of the City of .Longwood,
except said water utilities services taxes and the revenues de-
rived from the City's water system., and said Note shall not be
a general obligation of the City payable from any source other
than set forth in this Ordinance..
E. The revenues to be derived from the
system together with the water utilities services taxes will be
sufficient to pay the. principal of and interest on the Note-and
~ the cost of operation anal maintenance of the said system.
F. It is deemed necessary and desirable to
pledge the revenues of the system to the payment of the principal
of and interest on the Note herein. authorized.
SECTION 3. DEFINITIONS. The following terms shall
have the following meanings in this Ordinance unless the text
otherwise. expressly requires:
A. "City" shall mean the City of Longwood,
Florida .
B. "Act" shall mean Chapter 9825, Laws of
Florida, Acts of 1923, as amended, Section 167.431, Florida
Statutes, City of New Smyrna Beach. v. State of Florida., 132 So. 2d
151, and all other applicable laws of the State of Florida._
C. "Note" shall mean the $125,000 Waterworks
System Improvement Note authorized. to be issued pursuant to this
Ordinance, and the interest thereon.
D. "System" shall mean the completed water-
works system of the City together with any anal all improvements,
extensions and additions thereto h~.ereafter constructed or acquired,
r
-3 -
and shall include (without being l:~mited to) all lands or interest
therein, plants, buildings, machinery, franchises, pipes, fixtures,
equipment and all property, real o:r personal, tangible or intangi-
ble now or hereafter owned or used by said City in connection
therewith.
E. "Gross revenues" or "revenues" of the
system shall mean all fees, charges, receipts and rents or other
income received by the City from t:he operation of the system or
accrued to the City or to any other board or agency of the City
in control of the management and operation of said system.
F. "Cost of operation and maintenance" of
the system shall mean the current expenses, paid or accrued, of
operation, maintenance and repair of the system, and shall in-
elude insurance premiums and engineering expense, but shall ex-
elude any reserves for renewals, replacements and extraordinary
repairs and any allowance for depreciation.
G. "Water utilities services taxes" shall
mean the taxes levied and collected on water utilities services
in said City. pursuant to Section 167.431, Florida Statutes and
pursuant to the Ordinance enacted by the City Council of said ~ ~ a~
City on October 5, 1945.
H. Words importing singular number shall in-
elude the plural number in each case and vice versa, and words
importing persons shall include firms and corporations.
SECTION 4. AUTHORIZATION OF CONSTRUCTION AND ACQUI-
SIT ION OF PROJECT. There is hereti~y authorized the construction
and acquisition of the project pursuant to the plans and specifi-
cations of consulting engineers, ~~resently on file or to be filed
with the City Clerk. The cost of the project is estimated by the
_L. -
consulting engineers at $125,000 and shall be paid out of the
proceeds of the Waterworks System.. Improvement Note herein authori-
zed. Such cost, in addition to th.e items set forth in the plans
and specifications, may include bu.t need not be limited to the
acquisition of any lands or interest therein or any other proper-
ties deemed necessary or convenient therefor; engineering, legal,
financing expenses; expenses for estimates of costs and of reve-
nues; expenses for plans, specifications and surveys; the fees of
fiscal agents, financial advisors or consultants; administrative
expenses relating solely to the construction. and acquisition of
the project and such other expenses as may be necessary or inci-
dental to the financing authorized, by this Ordinance and the con-
struction and acquisition of the project authorized by this Ordin-
ance and the placing of same in operation.
SECTION S. ORDINANCE; TO CONSTITUTE CONTRACT. In
consideration of the acceptance of the Note authorized to be
issued hereunder by those who shall hold the same from time to
time, this ordinance shall be deemed to be anal shall constitute
a contract between the City and such holder or holders.
SECTION 6. AUTHORIZATION OF NOTE. Subject and pur-
scant to the provisions of this Ordinance, obligations of the City
to be known as "Waterworks System Improvement Note" herein some-
times referred to as "Note" is hereby authorized to be issued in
the aggregate principal amount of ONE HUNDRED TWENTY-FIVE
THOUSAND DOLLARS ($125,000.00), together with interest at the
rate of five per cent (5%) per ann~.um.
SECTION 7. DESGRIPTI:ON OF NOTE. The said Note, as
above-described, shall be dated the day of ,
A. D., 1969, and shall be in the f:or-m of the Note attached hereto
-~I -
as "Exhibit A", incorporated herein and made a part hereof by
a:~
reference . ~,M.
SECTION 8. EXECUTION OF THE NOTE. The Note shall be
executed in the name of the City by the Mayor and countersigned
by the City Clerk and its corporate seal affixed thereto. The
Note may be signed and sealed on bE~half of the City by such per-
son who at the actual time of the ~~xecution of such Note shall
hold the proper office in the City, although at the date of such
Note such person may not have held such office or may not have
been so authorized.
SECTION 9. NOTE NOT `I'0 BE INDEBTEDNESS OF THE CITY.
The Note herein authorized shall n~~t be or constitute an indebted-
ness of the City within the meanin;; of any constitutional, statu-
tory or charter limitation of indebtedness, but shall be payable
solely from and secured by a prior lien upon the water utilities
services taxes and the revenue of the system provided therefor
in this Ordinance. No holder of the Note shall ever have the
right to compel the exercise of th~~ ad valorem taxing power of the
City or taxation in any form on re,~l property therein for payment
thereof or be entitled to payment Hof said Note from any other
funds of the City except from the revenue from the system and
from the water utilities services taxes.
SECTION 10. NOTE SECURED BY PLEDGE OF REVENUES OF
SYSTEM AND WA7~'ER UTILITIES SERVICES TAXES. The. payment of the
debt of the Nate. issued hereunder shall be secured by a pledge of
and a lien upon the revenue of the system and the water utilities
services .:taxes. The City does hereby irrevocably pledge such reve-
nues to the payment of the principal of and interest on the Note
issued pursuant to this Ordinance. , ,
SECTION 11. ISSUANCE OF OTHER OBLIGATIONS. The City
-6-
i
covenants and agrees that so long as any of the. principal and in-
_
terest of the Note is outstanding, it will not create or permit to
be created any charge or lien on the revenues thereof ranking
equal or prior to the charge or lien on the Note.
SECTION 12. DISPOSITION OF SYSTEM. The City coven-
ants and agrees that so long as the Note is outstanding, it will
not sell or otherwise dispose. of any of the system facilities or
any-part thereof, and, except as provided for above, it will not
create or permit to be created any charge or lien on the revenues
thereof ranking equal or prior to the charge or lien on the Note.
SECTION 13. WATER RATES AND CHARGES. So long as any
principal of ~r interest on the Note shall be outstanding, the City
covenants and agrees with the: holder of the Note issued pursuant
to this Ordinance, to maintain and collect such schedule of water
rates and charges as may be necessary for the payment of the Note
and the cost of operation and maintenance of the system.
SECTION : 14. MODIFICATION AND AMENDMENT. No material
modification or amendment of this Ordinance or of any ordinance
amendatory hereof or supplemental hereto, may be made without the
consent in wriiting of the Holder.
SECTION 15. SEVERASILITY. If any-one or more of the
covenants, agreements or provisions of this Ordinance shaould 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 whatseover be held invalid,
then such covenants, agreements or provisions shall be null and
void and sha17L be deemed separate from the remaining covenants,
agreements or provisions, and in no way affect the validity of all
the other provisions of this Ordinance or of the Note issued there-
under.
SECTION 16. REPEAL OF CONFLICTING ORDINANCES. All or-
dinances or parts of ordinances in conflict herewith are hereby ,~,i~_
repealed.
SECTION 17. EFFECTIVE DATE. This Ordinance shall take
effect immediately upon its final ~~assage.
PASSED AND ADOPTED AT A ].tEGULAR MEETING of the City
Council of the, City of Longwood, F:Lorida, this 11th day of
September , A. D., 1969.
FIRST READING: September 11, 196g
SECOND READING•September 11, i96g
l~
~y//~///fJ~/j ~
CHAIRMAN, City Council of the
City of Longwood, Florida
A -EST
City Clerk
APP OVED th is f ~ day of
ep ember, A. D. 1969.
~1 ~
~ MAYOR,JCITY OF LONGWOOD, LORIDA
ATTEST:
' r'~
City Clerk
- F'
V
$125,000.00
UNITED STATES OF AMERICA
STATE OF FLORIDA
COUNTY OF SEMINOLE
CITY OF L~ONGWOOD
WATERWORKS SYSTEM IMPROVEMENT NOTE
KNOW ALL MEN BY THESE PRESENTS, that the CITY .OF LONGWOOD,
a municipal corporation in Seminole County, Florida (hereinafter
called "CITY"), for value received, hereby promises to pay to the
SOUTH SEMINOLE BANK, Fern Park, Florida, the principal sum of ONE
HUNDRED TWENTY-FIVE THOUSAND DOLLARS ($125,0.00.00), together with
interest thereon from the date hereof at the rate of five percent
(5%) per annum, solely from the special funds here.inafte.r me.ntion-
ed, in the following manner: The CITY shall pay equal monthly
installments of principal in the a;noun~t of $1,488.09, plus inter-
est at the rage of five percent (5'%) per annum on the then out-
standing principal balance, the first said principal installment, ~
plus interest, commencing thirty (.30) days after the date of this
Note, and continuing thereafter until this obligation is paid in
full.
Both principal of and interest on this Note are payable in
lawful money of the United States Hof America at the SOUTH SEMINOLE
BANK, Fern Park, Florida.
This Note is issued pursuant to the Constitution and Laws of
the State of Florida, particularly Section 169.01, Florida Statu- ~
tes, the Charter of the City of Longwood, and the following proper
action of the City Council: Ordin,~nce number 221 duly adopted on
the 11 day of September , 196'9, and Resolution adopted on
the 11 day of Sept~~ember , 1969. This Note is payable as
to principal and interest solely from and secured by a prior lien
upon and a pledge of (1) all revenues resulting from the operation
~,i
EXHIBIT A
_ - -
of the waterworks system, both present and future, of the CITY,
and (2) all water utility tax collected on said water revenues.
The aforesaid prior lien and pledge of water utility tax is given
with the understanding that the BANK will release the said lien
and pledge if and when the BANK, in its absolute discretion, con-
siders that sufficient experience in the repayment of this loan has
been obtained to justify the release of said lien and pledge. Ref-
erence is made to the said Ordinance. and Resolution for the provi-
sions relating to the security of this Note and the duties anal ob-
ligations of the CITY.
This Note is payable solely from and secured by lien upon and '
a pledge of the water utilities services taxes and the revenue de-
rived from the operation of the waterworks system of the CITY and
shall not constitute a general obligation of the CITY. It is
expressly agreed by the Holder of this Note that the full faith and
credit of the CITY are not pledged to the payment of the principal
of and interest on this Note and that such Holder shall never have
the right to require to compel the exercise of the ad valorem
taxing power of the CITY, or taxation in any form of any real
property therein, to pay such principal or interest thereon, or be
entitled to payment of such principal and interest from any other
fund of the CITY except from the revenue derived from the operation
of the system and the water utilities services taxes. This Note
shall not constitute a lien upon the waterworks system or any part
thereof or upon any other property of or in the CITY, but shall
constitute a lien only on the revenue derived from the operation
of the. system .and the water utilities services taxes.
This NOtE~ is redeemable at the, option of the CITY, at any
time, for the then unpaid principal balance and accrued interest;
il~'
provided, however, that written notice of such redemption shall
-2-
,
have been given to the BANK at least ten (10) days prior to. the
date of redemption.
It is hereby certified and recited that all ants, conditions
and things required to exist, to happen and to be performed pre-
cedent to and in the issuance of this 1Vote, exist, have happened
and have been performed in regular and due form and time as requir-
ed by the Constitution and Laws of the State of Florida applicab7Le.
thereto, and that the issuance of this Note does not violate any
constitutional or statutory limitation.
IN WITNESS WHEREOF, the. CITY ~DF LONC~TOOD, FLORIDA,has issued
this.Note and has caused the same to be signed by its Mayor, and
the corporate seal of said CITY to be impressed hereon, and attest-
ed by its City Clete all as of the II ,'day of , ~,t~ ,
A. D., 1969.
CITY ~O~LONGWOOD, FLO DA
BY: /
MAYOR
ATTEST.:
~~A~
CITY CLERK
A~
-3 -