21 of 1960 - Authorizing the issuance and sale of $90,000.00 of Special Improvement Bonds for Curb and Gutter Ext ORDINANCE NO. 21 of 1960
AN ORDINANCE OF SALT LAKE CITY, SALT LAKE
COUNTY, UTAH, AUTHORIZING AND DIRECTING THE
ISSUANCE AND SALE OF IMPROVEMENT BONDS OF
SALT LAKE CITY, UTAH, CURB AND GUTTER DISTRICT
NO, 220; TO FINANCE THE COST OF IMPROVEMENTS
MADE IN SAID DISTRICT, PROVIDING FOR THE AMOUNT
AND THE EXECUTION AND FORM OF SAID BONDS:
FINDING AND DECLARING AN EMERGENCY THAT THIS
ORDINANCE BECOME EFFECTIVE IMMEDIATELY AFTER
ITS PASSAGE, APPROVAL, AND PUBLICATION.
WHEREAS, the Board of Commissioners of Salt Lake City, Utah, has here-
tofore adopted proceedings for the construction of improvements in Curb and
Gutter District No. 220, and the Ordinance of said City confirming the assessment
roll for such improvements having been duly adopted and approved on the 19th
day of November, 1959, and
WHEREAS, notice of assessments to property owners in said District has
been published in accordance with the requirements of the laws of the State of
Utah and the ordinances of said City, and notice of assessment has been mailed
by the City Treasurer to all the owners of all property assessed in said District,
and
WHEREAS, the total cost of the project was $ 155,089.00 of which the
City's portion was $ 32,724.72 , leaving an amount of $ 122,364.28 as
the remaining front foot cost, of which the City's portion against property owned
by it is $ None , the balance of the front foot cost, after deleting the
City's portion, being assessed against the abutting property owners in the amount
of $ 122,364.28 ; that during the fifteen day period following the effective
date of the ordinance levying the assessment, the owners of private property in
said District have paid $ 31,004.43 on the principal of their assessments, and
WHEREAS, it is the opinion of the Board of Commissioners that Special
Improvement Bonds of said City shall be issued and sold for the purpose of paying
for the improvements in said Curb and Gutter District No. 220 for Salt Lake City,
Utah,
NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF COMMISSIONERS
OF SALT LAKE CITY, UTAH:
-1-
9
Section 1. There shall be issued $90,000 Salt Lake City, Utah, Special
Improvement Bonds of Curb and Gutter District No. 220, said bonds to bear date of
the 9th day of December, 1959, said bonds to mature without option of prior payment,
to bear interest, numbered, and in the denominations as follows:
Bond Numbers Interest Rate Amount Year
(All Inclusive) (Per Annum Denomination Maturing Maturing
1-9 5.00%n $1,000 $9,000 1960
10-18 5.00 1,000 9,000 1961
19-27 5.00 1,000 9,000 1962
28-36 5.00 1,000 9,000 1963
37-45 5.00 1,000 9,000 1964
46-54 5.00 1,000 9,000 1965
55-63 5.00 1,000 9,000 1966
64-72 5.00 1,000 9,000 1967
73-81 5.00 ci,000 9,000 1968
82-90 5.00 1,000 9,000 1969
Bond principal and annual interest shall be payable at the Office of the City
Treasurer of Salt Lake City, Utah.
Section 2. That said bonds and the coupons thereto attached shall be in
substantially the following form:
UNITED STATES OF AMERICA
STATE OF UTAH
COUNTY OF SALT LAKE
SALT LAKE CITY, UTAH
SPECIAL IMPROVEMENT BOND
CURB AND GUTTER EXTENSION NO. 220
$1,000 No.
KNOW ALL MEN BY THESE PRESENTS:
That Salt Lake City, in the County of Salt Lake, State of Utah, a municipal
corporation duly organized and existing, for value received hereby promises, out of
funds available for the purpose, as hereinafter set forth, to pay to bearer the sum of
ONE THOUSAND DOLLARS ($1,000.00)
on the 9th day of December, 19 60
in lawful money of the United States of America, with interest theron at the rate of five
per cent (5%) per annum, payable annually in like money on December ninth in each
year, beginning December 9, 1960, upon the presentation and surrender of the interest
coupons hereto attached, both principal and interest being payable at the office of the
City Treasurer, Salt Lake City, Utah. In event of failure to pay this bond when due,
it shall draw interest at the rate of eight per cent (8%)per annum until paid.
-2-
•
This bond is drawn upon the City Treasurer against the special tax levied upon
the property included in Curb and Gutter Extension No. 220 of said City, to pay
the cost of Special Improvements constructed in said district or extension, under,
by virtue of and in full conformity with the Constitution and Laws of the State of
Utah, and also ordinances of said City duly passed and made a law thereof prior
to the issuance hereof.
A special improvement guarantee fund has been created by said City as pro-
vided in Article 8, Chapter 7, Title 10, Utah Code Annotated 1953, and said City
agrees that at all times during the life of this bond and until payment thereof in
full, said fund shall be at all times maintained. This bond is payable exclusively
out of said special tax and the said special improvement guarantee fund, and neither
said City nor any officers thereof is holden for the payment thereof otherwise.
It is hereby certified, recited and declared that all acts, conditions and
things essential to the validity of this bond exist, have happened and have been
done in due time, form and manner as required by law, and that the total issue
of bonds of said City for said Extension or District, including this bond, does not
exceed the taxes levied to cover the cost of said improvement and that all of said
taxes have been lawfully levied.
IN WITNESS WHEREOF, Salt Lake City, Utah has caused this bond to be signed
by its Mayor, and attested by its City Recorder and drawn by its City Auditor on its
Treasurer, and the annexed coupons to bear the facsimile signature of said City
Auditor, and this bond to be dated December 9, 1959.
/S/ J. Bracken Lee
Mayor
/S/ Louis E. Holley
City Auditor
ATTEST:
.S/ Herman J. Hogensen
City Recorder
(SEAL)
(Form of Coupon)
No. $
On the ninth day of December, 19 60 , Salt Lake City, Utah, will pay to
the bearer at the office of the City Treasurer, Salt Lake City, Utah, the sum of
Dollars ($ ) in lawful money of the United States
of America, being one yearts interest due on that date on its Curb and Gutter
Extension No. 220 bond, dated December 9, 1959, this coupon being payable
exclusively from the funds described in said bond.
/S/ Louis E. Holley
City Auditor
Bond No.
-3-
2
Section 3. Said bonds shall be signed by the Mayor and attested by the
City Recorder, and drawn by the City Auditor on its Treasurer, and the annexed
coupons to bear the facsimile signature of the City Auditor, and the Board of
Commissioners does hereby ratify, approve and confirm the execution of said
bonds by the said officers, and the City Treasurer is hereby authorized to issue
and deliver the bonds to the purchasers thereof, their agents or assigns, on
receipt of the purchase price therefor.
Section 4. The Treasurer of Salt Lake City shall be, and he is hereby
authorized and empowered, and it shall be his duty, to receive and collect all
assessments levied to pay the cost of said improvements in Curb and Gutter
District No. 220, and the annual installments thereof and the interest thereon, and
the penalties accrued, including without limiting the generality of the foregoing,
the whole of the unpaid principal which becomes due and payable immediately
because of the failure to pay any installment, whether of principal or interest,
when due, and to pay and disburse such payments to the person or persons
lawfully entitled to receive the same, in accordance with the laws of the State
of Utah and all the ordinances and resolutions of said City heretofore or to be
hereafter adopted. All monies constituting the payment of principal of said unpaid
installments of assessments shall be placed in a separate fund to be designated
"Bond Fund of Salt Lake City Special Improvement District No. 220," and shall
be used for the purpose of paying the principal and interest on special improvement
district bonds of Salt Lake City Curb and Gutter District No. 220 and for no other
purpose whatsoever, and as security for such payment said fund is hereby pledged.
Should there not be sufficient money in said fund to pay all of the interest and
principal falling due at any one time, then the principal and interest shall be paid
from the guaranty fund, or from any funds of the City lawfully available for that
purpose.
Section 5. That the assessments and interest thereon have been and shall
continue to constitute and are hereby declared to be a lien in the several amounts
assessed against every lot or tract of land in said Curb and Gutter District No. 220
21-
from and after the 9th day of December, 1959, the date on which the ordinance
levying special assessments became effective, which lien shall be superior to the
lien of any mortgage or other encumbrance, whether prior in time or not, and
shall constitute such lien until paid, which shall be equal to the lien for general
taxes.
Section 6, That in response to request for bias for the bonds herein described
Five bide were received as follows:
Name of Bidder Interest Rate Premium
Coughlin f! Company, 5% $ 1,818.00
J. A. Bogle & Company, 5% $ 1,691.00
Continental Bank & Trust Co. 5% $ 3,258.90
First Security Bank of Utah, 5% $ 2,640.60
Edward L. Burton & Company, 5% $ 3,470.50
-5-
It is hereby determined that the offer of
and associates to purchase said bonds at a price of par and accrued interest and
a premium of $ is hereby determined to be the highest and best bid
submitted for the purchase of said bonds, and the sale of said bonds to
in line with their bid therefor is hereby ratified and
confirmed and the bonds are hereby sold to said purchasers in accordance with
the terms of their bid therefor. The City Treasurer is hereby instructed to
deliver said bonds to the purchasers upon receipt of the purchase price thereof.
Section 7. That a special improvement guaranty fund has been created as
provided in Article 8, Chapter 7 of Title 10, Utah Code Annotated, 1953, as
amended, Salt Lake City hereby covenants and agrees that at all times during the
life of the bonds herein authorized until the payment thereof in full that it will,
to such extent as is necessary, in order to prevent default in the payment of
principal and interest on the bonds herein authorized cause to be levied annually
for guaranty fund purposes such tax as may be necessary on all of the taxable
property in Salt Lake City, Utah, but not in excess of one mill on each dollar of
assessed valuation; and that any money received from said special improvement
guaranty fund levy shall be placed in the special improvement guaranty fund account
and maintained for the purposes outlined in Article 8, Chapter 7, Title 10, Utah
Code Annotated, 1953, as amended, and for no other purpose.
,�� Section 8. That an emergency is hereby declared, the preservation of the
.' peace, health and safety of Salt Lake City and the inhabitants thereof so requiring,
that immediately after its adoption this ordinance shall be signed by the Mayor
and City Recorder and shall be recorded in the ordinance book kept for that
purpose and said ordinance shall be published in the Deseret News, a newspaper
of general circulation in Salt Lake City, Utah, and this ordinance shall take
effect immediately upon its passage and approval and upon publication as required
by law.
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21
ADOPTED AND APPROVED this 2nd day of February , 1960.
C- (7
Mayor
ATTEST:
.,..
(sE,,,,,,,,,,
BIL4-11c44.3 21 of 1960 1 1 ,:.:::".-j R
Pubc1.4stielrl February 6th, 106'
H
P.: r
,,,•., a •4
'
; ....1
8 '';'..• r.
2i- .
R. 103 50 1.59 Q.P. A1 f -
ROLL CALL ! Salt Lake City,Utah, February 2d, 196 0
VOTING Aye Nay
I move that the Ordinance be passed.
Christensen . . ___/
Geurts
V 2 / i % /
Romney Y/ / Mayor
Mr.Chairman . 1` ,..."--,,
,d
Result- -------- --- —I
Al
Legal Notices M of
ORDINANCE NO.21OE 101i0Affdavit Publication
„ORDINANCE
INA[�CE OF SALT ■1�1■
LAKF:CI'A' :'SALT LANE COUN-
TY.UTAH AV CHOHILING AND
D1HEC'1'INIi T'1{E I.SS VANCE AND
SALE O}'IMPRUVEMENT BONDti
OE' SALT LAKE CITY. UTAH,
CUIIB AND GU2'TER DIS1'IZIC7'
NO.220�Tp FINANCE THE COST
SA IMISISTRICNTS MADE IN
SAID. DISTRICT, PAND TNG
FOR THE AMOUNT AND THE SS.SAID ONUS AND FORM C-
C I A BONDS;FINDING AND DI:
C I.A RING g. W ERGENCY
THAT' PHIS ORDINANCE BE.
COME iE5 ITIVE SSAGDIA'LE-
LY AFTER ITS PASSAGE, AP� t
YRVAL�ANll PUBLIA'f1O N L Ate' Pokey
1n VVHI.RLIAS,the Bo:iid or Cron,
ha:. t l f S Il adopt.
t
11 t 20°I I li `o-I Being first duly sworn, deposes and says that he is legal advertising
I ,I °e! clerk of the DESERET NE\fVS AND SALT LAKE TELE-
t Il r
I 1. I b e
N n e fa A.end°loll a tDF GRAM, a daily except Sunday) newspaper printed in the Eng-
wi+lREAs r�s t e�ia Dil, fish language with general circulation in Utah, and published in
ante ha_s the reouiehT nt aD.d-
m me ete of Utah a ar me Salt Lake City, Sall Lake County, in the State of Utah,
lafvs an the Slate P City.
and the
LrcFitlancca nI,sa'd CI[,v.iliiti i
ice of avee;sment has been 1nalled
b the "� Trooe�e t°all the That the legal notice of which a copy is attached hereto
I II t cd hl
'WHEREAS n a tat I t of fire
sl 50(505 I nleh �1% A�sPc 0i ty 1Jrdi.no-,nce No, 2,,1 0f 1.9600
I_ Ine t t ;Mz2Jea 8
tlhC n th C-t I i t - ti
the beI � I It 1. t N
os t, e , urdinnneel authori ling and d:ir•rri,'I_ng
�L
bciciH F tl a i 11 -I nl: - ......_ T ) ,,t
, IIt Ft�22Ifi9�2F tI't d4he the I:is-wince and -,5 e: ()fir Ihlpr()ge� )t_:nU i)ids A
oat[I Hoance ictivc e:at- ti t for li-
D�( cI i m hs21 a0a stl �„ CA+'ll `.end Cui:t T Lei et, iso 220
th principal'of their a cafe.
a„a D ese m
WHEREuc�lAS. 'I iv the a of nlDa
the An oC Gonnln�slDnars that
anecial ImDrovem mil Rnntls .I
fo�dtkirty°hall be Issuotl nnU>11 n
NOW THpIIUEU 220 19 ORt T February. 6 ,1.;/()��a
L I.a C U!I RI•:.REI b Sal was published to said newspaper on_ __—_..__—__
G tt I p . t Nov t C
DAINED O TIIL ROAHD OF
COMMI.5SION'Elt$ OF S A L'T L 9e; ITY�TIIUee el all be(coed
400.000 Sail L,hm City.Otuh,Sno-
and Gutter er ItiotltctR PO],s 220,Cni�rj'l OO , IS of the m �aY
oI Decc�nitcr.1,06A,v'a d Mnds In ��.�
apayment.aii ;�n he denonioatos
'
A Legal Advertising Clete'"- -
93
iIJ 5.0gs;S1.o00 S9,Of10 I040
IA-2] S.i1U t�t1p0?
,050,00 t9fi2 A,:16 5.00 I,050 5 1Ad:i��as on I obn n huo 1 I a S5 M Ih01 9t0C 19
82 00 sal ono oan lA h ���
el oob A;oo i$R Ito before me this clay of
5.0 1000 A UCfI 19GA B tl l i 1 �{ t�L t rIl fb t Toe:Ht./co o lhl Salt
(5O a $aft A.D. 19
C'nv Uf I
lace
.t' 2 That I b d
b uL lant�allV mo folluwlii�y
U0!I'TC1s TS r,„..,:$ pi, ASIRD ICA
A
t5OUSN(ACKE SAE/TAKE;
I T LAKC('1T Y.V 1 Afl SF;('IAL 1MPS<OVEMI:N'r BOND CLRe AND XN GUTTER PXTENSION --
xl oGo ND'220 Notary Public
OW Ati ML'N BY IHESF.PRESENTS;
o,'hal'f.�lt Lnl le`al Cilc,Dual ae`
U 1 fu Itl L 1- St t
,Il dlty
IPhd>,, � t i
IL bl
hcat'e�'i16elt 1lf of'fl,to pay for l a
I ---ONE THOUSAND DOLLARS
fsi.000 am
n the 9th day of December.1950
S lawfe1 on,v ofµ the United
tales f America, ith interest
bcrcol, 'rl the rate of ilre .,.
.•n1 lly 1 v;ci'Ie
tiannually
r ninthin hcacliry .beginning
Dee ores-
cember 4• op d 190 d 11the
in-
hide, n y hereto tt 1 5 That It assessments
a,ndeC t of h h.
1 tl r 1 oInterest bheel,
payablet theoffice f the lt,. and sell t t constitute
S Lake nCity. Utah. and a t oebv declared to be
In event of failure to ,a, this1lc eat as-
] tlue it.shall Pas In- e.otlnagainst.h rr lntotont ino'
iere�sl at the r of eight c cent sisland N ade Curb and rG aCtOr
N II I. llisb'�h Y 2I0 t d ft
11 U d 1' , Lh the Itod t Dc U le 9.
t T c ".th. t , the
eroperty in.. I vidat twhich theord assessments inance
ilydt'd in Curb andlav lowed mom °otter botch- effective, which lie, shalt
No,220 said City.t men t thelienf Y
ll .t e 5 1 1 n i� mortgage other encumbrance,
whet t' t
tension,11• ttIIconformityb lvirtuht f ltbt' shall
h constitute tied b 1 dlien n en the
and , w 0t C 6t-to of Pen eel. a.ne-1 taxea
`li.h.a.d r.l,s,t laloances of said Section 6. That not-e to
v dully passed and made , hoest for bids in
rthe bonds
thereof prior M the issuance herein described Five bids were
h.'.f 'law received as follows
ame of h t `
t.Af ,tl 1l t' rt tI U -�i'd Bidder RileP'
Cl. as i21C -n A t I A. d ehi S Co. 53 818.00
CI I t t t, 1't'c 10. LL h C do A.Hanle&Cn 5 Si 91.00
Annagrees otated'
I.1r all timesd during
City
e ConlmcnOo.Bark&
Trust Co. a'. 49,258.90
b'fret Sa:urft''hank
nail ic ithereois f in,full said fund
_Utah o �42,G40.60
shall be.t all tones rat tamed. Edward 1._Ration -
'nol bond of isleb1al S excluax dstvtile &Co:n-c,' .Sll 23,4'1,511
ll b. i .d I 1.
a 1 F' the of f Ll I L. .
f i t I IF f 111 I C li t h' bonds
e -thr`v there I i wise I heedame 1 d of war and acinurd premium
u d 3,470 h50
e
Ii is hereby certified. cited hest tl b.t bid b It d -
nd declared that all arts,co,di- the p rehaan of said bonds. and
tioas alid.
.v If things
thi land osscolxialst la l the the 'al F d bonds t Edward
vit Coinoans hi line
1 harming,aim C ve n done
I with l Burton
bid therefor hereby
cuatru trine,
I d that 11 total I- bonds cr ratified and
b confirmed Id t :d he
issue t l 1 fiodic, C f in
l saiIthllciension or l d l n.Dcr ttl 1.exceed
multi,
f terms its f theiris
here bid by t-tl' Thed
d th'lawfully
tc all nl to del lid bond Si the our-
chasers
N,Iiit t' 'I be 1 [ ver
levied.
1 WITNESS WHEREOF', Sall p wai price t guaranty f Wild h l been
lake City.
Utah
bn t
L' h s d as . d this
DuId.t eat aed bIneit C .b dtc contra
r x c T d d 30 DAtr cCr
o d
Annotated, e,as amended Sal
t
iitor ,rnrb y ta rota
lAcudainrexetO Lake Ct her covenants'and
agrees that at alllnesut he
coupons't bear the facsimile sl- t the boos herein authorial the payment therea ill full
i[will,Io such extent ass
legal Notices i:;�oine'pneeo,ter nt nio nrnci,l
—. _ -. _ __.
anihinteakt oieth ,,,,ia atop,
,atlUC eF Id City A t. a,d 11 0 ty fund th s hood 4 00 dated U . h r 9. h 1 )� I
19SN t 1 J.BRACKEN LEI i 1000 lt ofG 1 Ptah,tut not in ex in cess
H R h dollar
l f l LOWS E.HOLLLEf ar seed ]nation: d that
APTEs'1' tour received fro d - _'`.,
ILERb1AN J. Mali NEEN Improvementguaranty -
(SEAL) v famder l b placed in thefund
li
movement iguaranty fund account
F f C and d' t in Article t1 Chapter uoso,
No n the north d t December. Title 10 oo ! Cods A t t d.
I9 Shae"J.akc titr Ul'1 v01 195.3. ended. and for no
per to th U tl 't f other
the CII, al L 1 Lit Is She h 8. actt21 th
l,lijl,ius4h I' la [I nc lion of thepeace�h 1 h d aat-
[41 I, I.,,—,, 1- - t o t, f Salt 11 City d ti
SI 1 , Lit-coot 1 bca t.thereof i1 f.
that date i1 Garb 1 O tl.' , 1 It.l ,ter it, 1 ti this
1 t N LLU b I 1 nd divas b b d b tie.
1n. .bohl9 xer ive fromthe Mahe dC R tl.' d'h II
be t c d d tt d b I;
''ads cle l d r drl 1 d. (cent f that purpose d -d
(sl LUU[5 ls.l ity Auditor
Des,edinanct 'hall ben Ul,Te eg the
.,> a news News oS a ltn Lai:n Telegram',
Bnncl Ne ` I -on
Seciro, 3 I b 11 U. Sia Lake rdinance,hall
USff ect l this
i deli t RN dd r el t o d an.
b u A re-
• r. I h I u H b dl v n,bll t
b - jl 't t t nI ADOPTED AND APPROVED
I C to A d Ih D- ,t this 2 d f Eel- 39No.
f Ctom a h Is T,13n.V: isi LLE
ratify.exceulo f bond,confirm b the I ATTEST- Mayor
Id ffi d the C tY L HERMAN J. HOGENSEN
hoer d dotty,hereby btl„ri to the
t, SLAL1 Chv Recorder
-vor BILL NO.21 f I9Nd
pur-
chasers thereof their t'1 or Published Febanlal,v lith, 19d0
si ens
rand of he pure haso _ II-94)
t,rsection
e c ion 4.T —Album'.Tn r n+m
.ilon 4.The Treasurer of.Snit
I,alce City vlrull br, and Z. a
and li H tan lred It nMit, ire.
cllre and collect all: rnnLa
levied in :.the cost ofs�said'm-
o tali Curb a d sGutter
llrov rt No. 220, and the ohm,'
installments thereof nu the n-
ietest thereon.and the
n af ds,It icr
accrued, including without ipid-
the hl Ve.tf ahhd rkoil payable
immediately,comes
ly hieeai,sc of thenf:Idlu0'v
lu rlav a'. rn l:dlmcnl�whcihcr
of rprtihei y and
lcichei>e such due,
�e le lot lhF nr n0'sllte
inw(unr cutucd War.ui sire bins
if Ilie Imes anofalsoll and all the
en-Incomes and coY,o be
re said
ado heretofore es be constituting
adopted. All tit oln sl,luti,tE
n �nl of s:,
nalll ila4li llnlentscoE�:u c smenLi
sliall I,c placed rn ica rule fund
be dc.s,eLilad 'Bdntl �I,nn,l of
Salt I.ako Cdr Snnctal Improve
ant Dd>if No.Veil."'and ahall
bob the nr,0boI el larrdot noes brit,r
s 1 I ln-.FlF�, -o w t ctt nOdt 011'e
D£Hilt/Nl:c(_0v Curb and Tuber
ralriet Noh,le0 mid for t,o',boo
' ur l• ic,srll lvilned.ruSkoutd'thole
csol be s0llldirlit 10 c In weld
fund 10 t i,t1 of Chetatleceel alyd
1 teleslirltlallYL'-een,llne nit aa`ldole
_hum. ,r trot.l�.r,+v 1funos of
j the-Ciise_lawfully available for that
C.i