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72-28RESOLUTION N0. 72-28 _. WHEREAS, by Ordinance No. 35-67-2, the City of Atlantic Beach authorized a continuing method for financing further additions to the sewer and water systems of the City until the area of the City of Atlantic Beach, bounded on the South,,by Selva Marina Unit No. 2, on the East by Seminole Beach Road, on the North by Saturiba Drive, and on the West by Selva Marina Country Club, was completely developed; WHEREAS, Selva Marina Realty Company now proposes to develop an additional part of said area to be known as Selva Marina Unit No. 8, which will complete the development of said area, and has re- quested the City of Atlantic Beach to construct an addition to its water mains with fire hydrants to serve that portion of said area now to be developed and has agreed to loan the City the cost of constructing 'said addition to its water mains with fire hy- drants, plus the cost of engineering, said loan to be evidenced by a Certificate of, Indebtedness payable out of special funds as in Ordinance No. 35=67-2 particularly set forth"; WHEREAS, Selva Marina Realty Company has requested the City of Atlantic Beach to construct in said Se1va Marina Unit No. 8 the necessary gravity sewer lines and to construct in said area the streets and necessary drainage facilities and ,to let the contracts for the construction thereof at the time it lets the contract for the construction of the addition to its water mains and fire hydrants in said area, the construct~n,of said improvements at all times to be in accordance with~the plans and specifications approved by the City and subject to its inspection, the same to be and become, the property of the City. WHEREAS, Selva Marina Realty Company has agreed to deposit with the City the cost of constructing the necessary gravity sewer lines and streets and drainage facilities, together with the cost of engineering the same; WHEREAS, plans and specifications for said improvements have been prepared by the Owner's and City`s engineer and have been approv- ed by the City Commission; WHEREAS, satisfactory bids for the construction of said water mains and fire hydrants, gravity sewer lines and street paving and drainage have been received by the City in accordance with said approved plans and specifications as followsa ~--~ ~ Item Low Bidder Amount Engineering Fee Total water Allen`s of Fla, Inc. $17,384.00 $1,686.25 sewer Alleris of Fla. Inc. 21,005.11 1,995.49 streets B.B. McCormick & Son 55,510.50 2,497.97 & drainage $ 19,070.25 23,000,60 58,008.47 Total $93,899.61 $6,179.71 $100,079.32 GTHEREAS, the City has let the contracts `to the aforesaid low bidders, subject to deposit by Selva Marina Realty Company of the total funds aforesaid°; and subject to the approval of the plans and specifications fer distribution of the water system addition and for the gravity sewer lines by the appropriate governmental agencies of the State of Florida; and, WHEREAS, Selva b7arina Realty Company has agreed to deposit the aforesaid sums for each of the above named improvements plus the cost of any approved additions and less the cost of any approved deletions thereto. NOW, THEREFORE BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF ATLANTIC BEACH, AS FOLLOWSa Section 1. Upon the deposit of said funds by said Selva Marina Realty Company with the City, as aforesaid,'and upon the approval of said plans by the appropriate governmental agencies of the State of Florida, the Mayor and City Clerk are hereby authorized, empowered and directed to execute in the name of the City con- tracts for the construction of the aforesaid improvements. Section 2. Upon the deposit of said funds for the addition to its water mains and fire hydrants to serve that portion of said area now to be developed, and upon the completion of construction thereof, a Certificate of Indebtedness in the amount of the cost thereof, plus the cost of engineering, (plus or minue any appr~--~d additions or deletions) in substaintially the following form shall be executed and delivered to said Selva Marina Realty Company by the Mayor, Commissioner and the City Clerk under the seal of the Citya CERTIFICATE OF INDEBTEDNESS NO. 6 CITY OF ATLANTIC BEACH, FLORIDA KNOW ALL MEN BY THESE PRESENT, tha Florida, for value received hereby the Selva Marina Realty Company, a special fund hereinafter mentioned, 1972 t the City of Atlantic Beach, promises to pay to the order of Florida corporatian, from the the sum $ i ^E •« y v ~ ~ ~_~ i ~ ~ a f without interest, said sum to be .paid from said special fund at the time and in the manner hereinafter set forth. This obligation is issued to finance the cost to the City of Atlantic Beach for the construction of an extension of its water system within the area of the City bounded on the ,South by Selva Marina Unit No. 2, on the East by Seminole Beach Road, on the North by Saturiba Drive and on the West by the Selva Marina Country Club, and under authority of and in compliance with the Constitution and Statutes of the State of Florida, and the resolution duly adopted by the City Commission of the said City of July 7, 1959, and known as Resolution No. 59-13 and the Ordinance duly adopted by the City Commission of the said City on October 9, 1967, and known as Ordinance No. 35-67-2, and is subject to all the terms and condi- tions of said Resolution and Ordinance. This obligation is payable solely from and is secured by a fourth lien on and fourth pledge of the revenues collected and received by said City from the users within the said area above described of the sewer system of said City for the use of same and does not constitute an indebtedness of the City of Atlantic Beach within the meaning of any Constitutional, Statutory or Charter provision or limitation, and it is expressly agreed by the holder shall never have the right to require or compel the exercise of the ad valorem taxing power of said City for the payment of this obligation or any part thereof. It is further agreed by the City of Atlantic Beach and the holder of this obligation that this obligation shall not constitute a lien upon said water facilities or any of the property of said City, but shall constitute a lien only on said sewer service charges as and when collected by said City 'in the manner provided in said Resolution and Ordinance. It is expressly agreed and understood by the holder hereof that the aforesaid lien and pledge of said revenues is subordinate to the lien and pledge thereof given and granted by the City for payment of that certain certificate of indebtedness designated "Certifi- cate of Indebtedness No. 1" of said'City bearing date of July 30, 1959, in the some of $22,102.54, and that certain certificate of indebtedness designated "Certificate of Indebtedness No. 2"of said City bearing date of December, 31, 1959, in the sum of $4,700,00, and that certain Certificate of Indebtedness designated "Certifi- cate of Indebtedness No. 5" of said City bearing date of February 10, 1970, in the sum of $12,520x66. The City of Atlantic Beach covenants with the holder of this obligation that so long as any part of this obligation remains unpaid, but for no longer a period than thirty years from date hereof, to levy a sewer service charge in accordance -3- r ~. rates not less than as provided by Ordinance No. 80-59-2 of said City upon all persons within sa3.d territorial area whose pro- petty is served by the sewer facilities of said City and after the said Certificate of Indebtedness Nos. 1, 2 and 5 shall have been paid in full, to pay annua`11y to the holder of this obli- gation ali monies collected and received by the City fcr said sewer charges tc customers served by Sewage Pumping Station D on account of and in payment of this obligation; PROVIDED, HOWEVER, that if the funds collected and received by the City and herein pledged as aforesaid shall, after the elapse of thirty years hereafter be insufficient to fully pay and discharge said certi- ficates or indebtedness Nos. 1, 2 and 5 and this obligation, then this obligation shall then and there become null and void and shall stand discharged to the same extent and with like effect as if the same had been paid in full. IN WITNESS WHEREOF the City of Atlantic Beach has executed this obligation and has caused the same to be signed by its blayor- Commissioner and the Corporate Seal of the said City to be affix- ed hereto. Attested by its City Clerk this A.D., 1972> day of CITY OF ATLANTIC BEACH Its Mayor-Commissioner Its City Clerk Section 3. So long as any part of the aforesaid Certificate of Indebtedness shall remain unpaid, but not for a longer period than thirty years from the date of said last dated certificate and the Certificate of Indebtedness hereby authorized the City shall levy the sewer service charges for sewer facilities of the City as covented in the aforesaid Certificates of Indebtedness, in accordance with the rates not less than as provided by Ordi- nance No. 80-50-2 of the City, and all monies collected and re- ceived by the City for such sewer charges shall be deposited by the City Treasurer in a special fund to be designated Selva Marina Sewer Fund and shall be used only for the payment of said certificates of indebtedness and the certificates of indebtedness hereby authorized until the same be paid and discharged in accordance with the terms thereof. A11 monies received by the City from Selva Marina Realty Company for the aforesaid gravity sewer lines and the aforesaid street paving and drainage, plus the cost for engineering the same, shall be deposited in the general fund of the City and are hereby appropriated for the -4- ~, construction of said sewer lines, street paving and drainage contracts. Section 4. The City Commission has found and determined that the improvements proposed by Selves Marina Realty Company hereinbe- fore described are in accordance with the provisions of said Resolution No. 59-13 duly adopted by the City Commission July 7, 1959, and by Ordinance No. 35-67-2 adapted by the City Commission on October 9, 1967, and were necessary to the health and general welfare of the City and its inhabitants and hereby ratifies and confirms paid Resolution and Ordinance and the Certificates of Indebtedness thereby authorized, issued and delivered thereafter to Se1va Marina Realty Company and ratifies and confirms the obligation thereof of the City according to the terms and con- ditions therein set forth, Section 5. The City Commission has found and determined that the improvements now proposed by Selves Marina Realty Company, for Selves Marina Unit No. 8, as hereinabove described, sha11 cemFlete the development of the area hereinbefore first described. Passed by the City Commission on May 22~ 1972. .w ~ Attesta ,~; ~ ~~~ µ ~ /~ City Clerk ~~ W { (SEAL) rv 4 -5-