147 of 1904 - Ordinance 147 of 1904 – Providing for special election for issue of $850,000 Water Bonds. AN ORDINACE
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 eight hundred and fifty thousand ($850,000.00) dollars for
the purpose of supplying said City with. water, and improving the
present system of water distribution of said City; and also the
question of incurring a bonded indebtedness to the amount of one
hundred and fifty thousand ($150,000.00) dollars for the purpose of
laying and est,ebliehing sewer mains and sewer system in the southern
and western portions of slid City.
Be it. ordained by the City Council of Salt Lake City, Utah:
SECTION 1. That there is an immediate and pressing necessity
for increasing the water supply of Salt Lake City, Uteh, and also
for the improvement and extension of the present system of water-
works whereby the water of said City is now distributed throughout
said City; and also that there is an immediate and pressing neces-
sity for sewer mains and a system of sewerage in the southern and
western portions of said City in which no sewerage system now
exists.
SECTION 2. That to increase said water supply and improve and
extend the present system of water distribution of said City in the
manner required calls for and requires an expenditure of eight hun-
dred and fifty thousand (050,000.00) dollars.
That to establish and provide sewer mains and a sewerage system
for the part of said City above specified, calls for and requires an
expenditure of one hundred and fifty thousand ($150,000.00) dollars.
S]CTION 3. That there are not sufficient funds in the City
Treasury to defray said expenses or any part thereof, and that in
order to defray the expenses of making said proposed improvements
it is necessary for Salt Lake City to incur a bonded indebtedness to
raise funds the•'efor in the following amounts:
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For increasing water supply $850,000.00
For establishing sewer mains and sewerage system - 150,000.00
SECTION 4. That in pursuance of Sections 308, 309 and 310 of
the Revised Statutes of Utah of 1898, it is hereby ordered that a
special election be held in Salt Lice City, Utah, on the
day of e' __ , 190 :, for the purpose of submit-
tin to �s/uch ��
g qualified electors as shall have paid a property tax in
said City in the year 190 yL. , the question of incurring a bonded
indebtedness in the sum of eight hundred and fifty thousand
0850,000.00) dollars for the purpose of defraying the expenses of
increasing the water supply of said City by laying pipes and estab-
lishing a water system to conduct water from Big Cottonwood Creek
and Mill Creek and their tributaries to Salt Lake City, and acquir-
ing water and water rights in said streams and in Utah Lake, and by
improving and extending the present systemof water distribution by
which water is now distributed throughout said City; also the ques-
tion of incurring bonded indebtedness in the sum of one hundred and
fifty thousand ( 150,000.00) dollars for the purpose of defraying
the expenses of establishing sewer mains and a sewerage system in
the southern and western portions of Salt Lake City, where no sewer-
age system now exists.
Said water system and said sewerage system shall be owned by
Salt Lake City.
Said bonds shall bear interest at a rate not to exceed G� "
per cent per annum, which interest shall be payable semi-annually;
and said bonds shall become due and payable at the end of twenty
(20) years from the date of issue, with the option reserved to the
City to pay or refund the same at any time after the expiration of
ten (10) years after the date of issue, and shall be of such denom-
ination or denominations as the City Council may hereafter determine
and the net revenues from said water system shall be set apart for
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and shall be a sinking fund for the psa amza iiit payment of said
bonds.z�„(,.--e - -..-......,,,—
Said election shall be conducted according to the statutes and
laws of Utah, and shall be held in manner and form provided thereby.
SECTION 5. The Mayor and City Recorder of Salt Lase City are
' hereby directed and required to make proclamation of said special
election by publication of a notice thereof in three (3) daily news-
papers, published and circulated in said City, for four (4) succes-
sive weeks prior to the date of said election.
SECTION 6. This ordinance shall take effect upon approval.
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['nosed by the Ci+.v Coursil cf S91+, Lake Ci+v, U+ah, Nrverhrr CIsI ,1 CC1,
and referred tr the. haysr For his arrroval.
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