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59-13 RESOLUTION NO. 59-13 WHEREAS, the Seiva Marina Realty Company, a Florida Corporation, proposes to develop the area in 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 the Selva Marina Country Club, and has requested the City of Atlantic Beach to construct as additions to its sewer system a sewage pumping station and force main and water mains with fire hydrants to serve said area and adjacent area and has agreed to loan the City the cost of constructing said improvements, said loan to be evidenced by Certificates of Indebtedness payable out of special funds and in the amount as hereinafter particularly set forth; and, WHEREAS. said Selva Marina Realty Company has agreed, at its own expense, to construct in said area to be developed as aforesaid the necessary gravity sewer lines at its own cost and to let the contract for the construction thereof at the same time the contract for the construction of said improve- ments is let, the construction of said lines at all times to be in accordance with, plans and specifications approved by the City and subject to its inspection, the same to be and become, when paid for, the property of the City; and, WHEREAS, plans and specifications for said improvements have been prepared by the City~s Consulting Engineer, Walter J. Parks, Jr., and approved and accepted by the City Commission; and, 4v'HEREAS, the City Commission has found and determined that it is necessary to the health and general welfare of the City and its inhabitants that the said improvements be constructed; NOW THEREFORE, BE IT RESOLVED by the City Commission of the City of Atlantic Beach, Florida: 1. That said improvements be constructed, and that the City Manager and City Clerk do advertise in accordance with the Charter of the City a request for bids for the construction of said improvement designated Sewage Pumping Station ~~D~~ and Force Main. 2. That upon the coming in and receiving of a satisfactory bid for the construction of said Pumping Station ~~D~~ and Force Main in accordance with said plans and specifications, the City J Manager shall notify the Selva Marina Realty Company and upon its depositing with the City funds in the amount of said bid, plus the cost of engineering incurred by the City, a contract for doing said work shall be let by the City to the Successful bidder. 3. Upon deposit of said funds by-said camp any with the City, as aforesaid, a certificate of indebtedness in the amount thereof in substantially the following form shall be executed and delivered to said company by the Mayor-Commissioner and City Clerk under the Seal of the City: CERTIFICATE OF INDEBTEDNESS NO. 1 CITY OF ATLANTIC BEACH, FLORIDA S 1959 KNOW ALL MEN BY THESE PRESENTS, that the City of Atlantic Beach, Florida for value received hereby promises to pay to the order of the Selva Marina Realty Company, a Florida Corporation, from the the sum of S , paid from said special hereinafter -set forth. special fund hereinafter mentioned, without interest, said sum to be fund at the times and in the manner This obligation is issued to finance the cost to the City of Atlantic Beach for the construction of a sewage pumping station and force main and designated Sewage Pumping Station ~~D~~, and Force Main, according to plans and specifications prepared by the City~s Consulting Engineer, Walter J. Parks, Jr., 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 on July 7th, 1959 and known as Resolution No. 59-13, and is sub}ect to all the terms and conditions of said resolution. This obligation is payable solely from and is secured by a lien on and a pledge of the revenues collected and received by said City from the users of the sewer system of said City served by said sewage pumping station 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 of this obligation that such holder shall never have the right to require or compel the exercise of the ad valorum taxing power of said City for the payment of this obligation or any part thereof. - 2 - 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 sewer 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. 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 period than thirty years from date hereof, to levy a sewer service charge in accordance with the rates as now provided by Ordinance No. 80-59-2 of said City, upon all persons whose property is served by said sewage pumping station and force main, and to pay annually to the holder of this obligation all monies collected. and received by the City for said sewer service charge 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 from date hereafter be insufficient to fully discharge this obligation, the same shall then and there become null and void and shall stand discharged to the same extent and with like effect as if the same has been paid in full. tN WITNESS WHEREOF the City of Atlantic Beach has executed this obligation and has caused the same to be signed by its Mayor Commissioner and the Corporate Seal of the said City to be affixed hereto, Attested by its City Clerk this __ day of 1959. CITY OF ATLANTIC BEACH Its Mayor-Commissioner Attest: Its City Clerk - 3 - 4. That the City, with its own work force, construct within said area to be developed as aforesaid, an extention of its water system by the construction of 6~~r-iain~ fire hydrants and other necessary appurtenances in accordance with the plans and speci- fications therefor on file with the City Manager and heretofore approved by the City Commission upon said Selva Marina Realty Company deposited with the City funds in t~e amount of 56000.00 (the estimated cost of said water imp~`ovements). When the said work shall have been completed and the actual cost finally determined, if the said sum so deposited shall be in excess of the cost, sdch excess shall be refunded to the said Selva Marina Realty Company and, if the said sum so deposited shall be less than said cost the said Selva Marina Realty Company shall pay to the City the difference. When the actual cost for doing said work has been determined and the amount thereof deposited with the City by said Selva Marina Realty Company the City shall thereupon execute and deliver to said company by the Mayor- Commissioner and City Clerk under the Seal of the City, a certificate of indebtedness in the amount thereof in substantially the.following form: ~ __ , CERTIFICATE OF INDEBTEDNESS NO. 2 CITY OF ATLANTIC BEACH, FLORIDA n S KNOW ALL MEN BY THESE Beach, Florida for va to the order of the S Corporation, from the the sum of S , from said special fun inafter set forth. 1959 PRESENTS, that the City of Atlantic lue received hereby promises to pay elva Marina Realty Company, a Florida special fund hereinafter mentioned, without interest, said sum to be paid d at the times and in the manner here- 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 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 on July 7th, 1959 and known as Resolution No. 59-13, and is subject to all the terms and conditions of said resolution. - 4 - ~"'~ This obligation is payable solely from and is secured by a second lien on and second 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 of this obligation that such holder shall never have the right to require or compel the exercise of the ad valorum 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. 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 the payment of that certain certificate of indebtedness designated ~~Certificate of Indebtedness No. 1~~, of said City bearing date of 1959 in the sum of S 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 period than thirty years from date hereof, to levy a sewer service charge in accordance with the rates as now provided by Ordinance No. 80-59-2 of said City upon all persons within said territorial area whose property is served by the sewer facilities of said City and after the said Certificate of Indebtedness No. 1 shall have been paid in full, to pay annually to the holder of this obligation all monies collected and received by the City for said sewer service charges 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 Certificate of Indebtedness No. 1 and this obligation, then this obliga- tion 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. - 5 - t i IN WITNESS WHEREOF the City of Atlantic Beach has executed this obligation and has caused the same to be signed by its Mayor-Commissioner and the Corporate Seal of the said City to be affixed hereto, Attested by its City Clerk this day of 1959. CITY OF ATLANTIC BEACH Its Mayor-Commissioner Attest: Its City Clerk 5. THAT, so long as any part of either of the aforesaid Certificates of Indebtedness shall remain unpaid, but not for ~' a longer period than thirty years from the date of said last dated certificate, the City shall levy the sewer service charges upon the use of the sewer facilities of the City as covenanted in the aforesaid Certificate of Indebtedness in accordance with the rates as now provided by Ordinance No. 80-59-2 of the City and all monies collected and received by the City for such sewer service 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 until the same shall be paid and discharged in accordance with the terms thereof. All monies received by the City from said Selva Marina Realty Company in accordance with this resolution shall also be deposited in said fund. ~ ~ ~ * ~ ~ ~ Passed by the City Commission July 7th, 1959. _ Attest: j - ~, _- ._. ~ ~ ... ~ ~ City Clerk ~ __ (SEAL)