Loading...
113 of 1908 - Ordinance 113 of 1908 – Providing for the issue and negotiation of $475,000 Water Bonds and $125,0 AN ORDINANCE. An ordinance providing for the issue and negotiation of Four hun- dred and seventy-five thousand (.;475,000.00) dollars in WATER BONDS, and One hundred and twenty-five thousand 0125.000.00) dollars in SEWER BONDS of Salt Lake City, Utah. WHEREAS by the result of a special election duly called, advertised and held in Salt Lake City, Utah, July 29th, 1908, said city was author- ized and empowered to issue and sell the bonds hereinafter set out and described to the amount therein mentioned; the result of which election was declared by the City Council sitting as a board of canvassers by resolution duly passed August 3rd 1908, and approved by the Mayor Aug- ust 5th, 1908; and WHEREAS the City Council on August/th, 1908 duly passed a resolu- tion authorizing and directing the Mayor and. City Recorder to advertise for bids for the purchase of said bonds, which resolution was approved by the Mayor August 7th, 1908; and WHEREAS the Mayor and City Recorder have advertised for bids for said bonds as authorized and directed by said resolution last named; AND WHEREAS in accordance with said last mentioned resolution and said advertisment for bids for said bonds, all bids in the hands of the City Recorder at 7:30 P. M. August 31st, 1908 were duly opened and considered by the City Council at a regular meeting thereof on said August 31st 1908 beginning at 8 o'clock P. M.; and WHEREAS the bid of Woouir}a, MoNear F :;:core, o? Chicago, Illinois, having been declared by the City Council by resolution duly passed at said meeting as being the highest, best and most advantageous to the interest of the city, which bid was by said resolution accepted by said City Council. NOW THEREFORE. BE IT ORDAINED by the City Council of Salt Lake City, Utah: SECTION I. That for the purpose of defraying the expense of increasing, improving, enlarging, extending perfecting and adding to 1� .. 4 the present water supply and water works system now owned and to be owned and controlled by the city, in the manner set out in an ordinance passed by the City Council June 18th 1908 and approved by the Mayor June 19th 1908, entitled "An ordinance providing for and ordering a special election for the purpose of submitting to the qualified electors of Salt Lake City, Utah, the question of incurring a bonded indebtedness to the amount of Six hundred thaousand („>600.000.00) dollars" Salt Lake City does issue four hundred and seventy-five (475) WATER BONDS of the denomination of One thousand (yI.000.00) dollars each, consecutively numbered from 1 to 475, both numbers inclusive. Said bonds and each of them shall be (except as to consecutive numbers) in the following form, words and figures, and shall contain the covenants, representations, dates and statements in the following form contained, to-wit:- Number ITRITFD STATES OF AYERICA Number _ STATE OF UTAH. $1000. ( TAT) COURT OF ARMS) I000. CITY OF SALT LAKE CITY WATER RORD. SERIES E. KNOW ALL mar: BY THESE PRESENTS: That the City of Salt Lake City in the State of Utah, for value received, hereby acknowledges itself to be indebted and promises to pay to the bearer, or, if this bond is registered, to the registered owner hereof on the First day of October 1928, the sum of ONE THOUSAND DOLLARS in gold coin of the United States of America of the present standard of weight and fineness, with inter- est thereon at the rate of/f per centum per annum, payable in like gold coin, semi-annually on the First day of April and the First day of October in each year until the principal thereof falls due, upon the presentation and surrender of the interest couponshereto annexed as they severally become due, unless this bond hhall be registered, in which case the interest shall be payable to the registered owner. Both principal and interest of this bond are payble at tie United States L_ortgne•e and Trust Conpnny„in row York City 3 This bond is one of a series of 475 bonds, numbered from 1 to 475, both inclusive, of like date, tenor and amount, and. is issued. pursuant to sections 308, 309 and 310 of the Revised Statutes of Utah of 1898, and an ordinance passed June 18th 1908 by the City Council of Salt Lake City, approved by the Mayor of said city June 19th 1908, and has been authorized by the electors of said city at a special election held in. said city July 29th 1908, for the purpose of extending and improving the water system of said City to be owned and controlled by said City. This bond is subject to redemption at any time after ten years after its date of issue upon payment of the principal of the bond and the interest then accrued. The City Council shall annually levy a. sufficient tax to pay the interest on this bond as it falls due and also to constitute a sinking fund for the payment of the principal thereof within twenty years. It is hereby certified that all conditions, acts and things, essential to the validity of this bond, exist, have happened, and. have been done, and that every requirement of law affecting the issue thereof has been duly complied with, and that this bond is within every debt and other limit prescribed by the Constitution and Laws of said State; and that the faith and credit of the City of Salt Lake City are hereby irrevocably pledged to the punctual payment of the principal and interest of this bond according to its terms. I.N WITNESS WHEREOF , the City of Salt Lake City has caused this bond to be signed by its Mayor and its corporate seal to be attached hereto, attested by its City Recorder and the annexed coupons to bear the fan-simile signatures. of said Mayor and City Recorder, as of the First day of October, 1908. Attest: -'- City Recorder. And to each of said bonds shall be attached a coupon for each in- stallment of interest contemplated by said bond, which said coupons shall be numbered from 1 to 40 consecutively, with the several dates of payment and number of bond to which attached stated therein, and shall bear the fac-simile signatures of the Mayor and City Recorder. Said coupons and each of them shall be (except as to dates of pe.y7ent and numbers) in the following form, words and fissures, to-wit: (FORM OF COUPON) $21:'.2.5 The City of Salt Lake City in the State of Utah, will pay to the bearer on the First day of 19 , the sum of Twenty-one Dollars nni twonty-. ve—cents in gold coin, at the United States Mortgage and Trust Company, in New York City, 4 being six months interest then due on its Water Bond No dated October first 1908. J. B. Moreton, J. S. Bransford City xecorder Mayor. Series E. (Coupon number) SECTION 2. That for the purpose of defraying the expense of completing, increasing, extending and adding to the present sewer system now owned and to be owned and controlled by the city, in the manner set out in an ordinance passed by the City Council June 18th 1908 and approved by the Mayor June 19th 1908, entitled "An ordinance providing for and ordering a special election for the purpose of submitting to the qualified electors of Salt Lake City, Utah, the question of incur- ring a bonded indebtedness to the amount of Six hundred thousand ($600.000.00) dollars" Salt Lake City does issue One hundred and. twenty five (125) SEWER BONDS of the denomination of One thousand (I.000.00) dollars each, consecutively numbered from 1 to 125, both numbers inclu- sive. Said bonds and each of them shall be (except as to consecu- tive numbers) in the following form, words and figures, and shall con- tain the covenants, representations, dates and statements in the fol- lowing form contained, to-wit: Number UNITED STATES OF AMERICA Number STATE OF UTAH. I000. (STATE COAT O ARMS) $IOOO. CITY OF SALT LAKE CITY. SEWER BOND. SeriesF KNOW ALL MEE BY THESE PRESENTS: That the City of Salt Lake City, in the State of Utah, for value received, hereby acknowledges itself to be indebted and promises to pay to the bearer, or, if this bond be registered, to the registered owner hereof, on the first day of October 1928, the sum of ONE THOUSAND DOLLARS in gold coin of the United States of America of the present standard of wthight and fineness, with interest thereon at the rate ofl_1./; per centum par annum, payable in like gold coin, semi-annually on the let day of April and the 1st day of October in each year until the principal thereof falls due, upon the present- ation and surrender of the interest coupons hereto annexed as they severally become due, unless this bond shall be registered, in which case the interest shall be payable to the registeresd owner. Both principal and interest of this bond are payable at the United States Mort age and Trust Corlpany, in New York City. This bond is one of a series of 125 bonds, numbered from 1 to 125, both inclusive, of like date, tenor and amount, and is issued pursuant to sections 308, 309 and 3I0 of the Revised Statutes of Utah of 1898, and an ordinance passed June 18th 1908 by the City Council of Salt Lake City, approved by the Mayor of said city June 19th 1908, and has been authorized by the electors of said city at a special election held in said city July 29th 1908, for the purpose of extending and improving the sewer system of said city to be owned and controlled by said city. This bond is subject to redemption at any time after ten years after its date of issue upon payment of the principal of the bond and the interest than accrued. The City Council shall annually levy a sufficient tax to pay the interest on this bond as it falls due and also to constitute a sinking fund for the payment of the principal thereof within twenty years. It is hereby certified that all conditions, acts and things, essen- tial to the validity of this bond, exist, have happened end have been done, and thatevery requirement of law affecting the issue thereof has been duly complied with, and that this bond is withinevery debt and other limit prescribed by the Constitution and Laws of said state; and that the faith and credit of the city of Salt Lake City are hereby irrevocably pleadged to the punctual payment of the principal and int•. erest of this bond according to its terms. IN WIT LMSS ',7TIRREOF, the City of Salt T..ake City has caused this bond to be signed by its Mayor and its corporate seal to be attached hereto, attested by its City Recorder,, and the annexed coupons to bear the fac-simile signature of said Mayor and City Recorder as of the First day of October 1908. Attest: Mayor City Recorder. And to each of said bonds shall be attached a coupon for each inst- allment of interest contemplated by said bond, which said coupons shall be numbered from 1 to 40 consecutively, with the several dates of pay- ment and number of bond to which attached stated therein, and shall bear the fac-simile signatures of the Mayor and City Recorder. Said Coupons, and each of them shall be ( except as to dated of payment and numbers) in the following form,words and figures to-wit: (FORM OF COUPON) !321.25 The City of Salt Lake City in the State of Utah, will pay to the bearer on the first day of 19 , the sum of Twenty-one. Dollars and twenty-five cents, in gold-coin, at t�nited.States Mortgage and Trust Company, in New York City, being six months' interest then due on its Sewer Bond No. _, dated October 1, 1908. J. 3. iioreton, J . S. Bransford, City Recorder. Mayor. Sr.RIES E. (COUPON IUMBER) SECTION 3. Said bonds and each of them shall be signed by the Mayor, signed and attested by the City Recorder and sealed with the seal of the City, and the said coupons shall bear the fac-simile sig- natures of the Mayor and Recorder. Said Mayor is hereby empowered and directed to sign, and said Recorder to sign and attest and affix the seal of the city to each of said bonds, and the acts of said Mayor and Recorder in so doing are and shall be the act and deed of said Salt Lake City. All the covenants, statements, representations and agreements con- tained in said bonds and coupons, and all recitals and representations in this ordinance are hereby considered and understood, and it is hereby ordained and declared that said covenants and promises therein, are the covenants and promises of Salt Lake City, and that the representations and statements therein are the representations and statements of said City. And it is further averred and represented that said. Salt Lake City is a municipal corporation, and a city of the £irut class under the constitution and laws of the State of Utah. SECTION 4. The sale of said bonds to Woodin, McNear and Moore, and the action of the Council in accepting the bid of the said firm, and all acts and proceedings pertaining thereto, are hereby considered and are hereby ratified and confirmed. The City Council may by resolution or resolutions provide for the details involved in the execution and delivery of said bonds, the collection of the proceeds therefrom and the negotiation of the business connected therewith. SECTION 5. This ordinance shall take effect upon app val. Passed by the City Oounoiic-ai e 0 Citylnah; September 3rd,1908, and referred to the Mayor for his a. Gig 'ty Recorder. Approved this 7 day of September, 1908. Mayor. 1 L I • A... .. . I 1. 34"-* ki \ N k \ t Nt :..... ,„ . , X 40)7 V' 1, • •Coa i ... • \\ 0 m 6 •=7: ,s, 1 r % ..10... KAs, e-1 1 ,2 ir1/4, us •zle., KN, 1 ots•o gz ,_.0 tt a trt 1.F4111. l'i g I 1 :' , •V [ ..-. 1 1 . . 1 , , . 1 1 1 f' 1 . . . . . -. .