22 of 1901 - Ordinance 22 of 1901 – Providing for refunding of $200,000 in bonds, issued pursuant to resolution Dill Nu. ....r. ?st•
AN ORDINANCE PROVIDING FOR TH$ REFUNDING OF TWp HUNDRED THOUSAND
DOLLARS IN BONDS, ISSUED PURSUANT TO RffiOLUTI< PARSED JUNE 9th, 1891,
FOUND IN THE REVISED ORDINANCES OF SALT LAKE CITY OF Ws 1892, page 151.
WERRAS, Pursuant to a resolution of the City Gouncll Of Salt
Lake City AnOnod June tth, 1891, malt Lake City iesaa4dd and sold and hue
now outstanding two hundred bonds of the denemieiatien if One Thousand
Dollars eseli, dated July 1, 1891, payable twenty years after date, with
the option of paying rams upon the expiration of ten years after date; and
Wieersis, it is possible now to refund Said bonds at ,a lower
rate of Interest and thereby effect a large sating to cult Lake City
Corporation, ant the firm of Parson, Leach & Company of New York and
Chicago hoe made a proposition to purchase the bonds to be issued pursuant
to this ordinance hereinafter moreparticularly described, whieh,,propofi--
tion has been accepted by the 3ity Council; Now, therefore, be it
Ordained by the City Council of salt Labe City:
Smitten 1. That for the purp.6*o of refunding said issue of bonds
of Julylst, 1891, Solt Tyco City Corporation itlsus a 'fries of twgphutt+
dred coupon bonds of the denomination of one thousand dollars each,
the principal payable at the office of the City Treasurer of Salt Lake
City, twenty years after date thereat, Said bonds to bear date of July
let, 19o1, with interest thereon from *aid date at the rate of four
per cent per antes, fait interest payable s:a;t-wnanally thereafter en the
first days of January and July of each year, 1n the City of New York,
at the banking house of W"e�rs=a) s o., er at the office of the City
Treasurer in salt sake City, en presents:tie* and surrender of the said
coupons as they become tus; both principal and interest being pa.:ab1e in
lawful money of the United States. Said bonds shall be
exempt from taxation by said city,
see. 2. Said bonds shall be signed by the mayor and City
Recorder, and before issuance of the same, the corporate seal of salt
Lake city shall he attached to each. Said bonds shall be known as Salt
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Lake City refunding be*dn, and shall be numbered from 1,001 to 1,200
both inclusive, and shall be regietered La numerical order in a book
kept for that purpose by the Auditor of the eeid City, and chill have forty
interest coupons attached thereto, to be numbered from 1 to 40 both
inclusive, with the proper dates of payment nomad therein, and which
shall bear the lithographic signatures of the Mayor art City recorder.
Said bones ill be substantially in the following form.
UNITED STATES 0P AMERICA.
STATE OF UTAE.
SALT LAKE CITY REx'UNDIEG BOND.
So .. $1,000.00
Knew all elan by thee. i►rel.eete, that the City of Salt Take, in
the County of salt Lake and State of Utah, aelknewleiges itself to be
indebted and for value received, hereby premises to pay the bearer hereof
the sum of one thousand dollar* to Mufti money of the United States on
the first day of July, 1921, at the office of its City Treasurer, with
Intermit thereon at the rate of four per Bent per a num from date until,
paid, payable semi-annually, in like money on the first days of January
and July in amok year at the Srame p1440, or lit the eption of the holder,
at the banking house of We11s .,ergo .h Co., in the City of New York on
presentation and surrender of the absxaed eeupane as they eeverel]r
become due.
Thie bend is one oJl a series of two hundred (Sov) bonds of like
tenor, date and amount, numbered from One Thousand and one to Twelve
Hundred, both inclusive, and known as "Salt Lake City nefundng bonds"
for the aggregate mum of Two Hundred Thousand 0200,000) Dollars, issued
for the purpose of refunding a like amount of outstanding bonds of said
City heretofore issued pursuant to law, under and pursuast,iestion 206
of the Revised Statutes of Utah,and pursuant to an ordinance of the City
Counoil adopted and approved by the Mayor and published, providing for
the issuance and disposal of such bonds.
And it is hereby resift* th--t 411 sets,apnditions and things
required to exist and to be performed pr000desa V. and in the issuing of
said bonds, hate duly existed and been performed in due manner and form
as required by the constitution and laws of tre said State; and that the
total indebtedness of the said City, both bendsd and floating, including
this issue of bonds, is not in exe*s of any etS eia1 er gensr*1 etstutory
er constitutional limit of indebtedness.
Tnwitness whsroof, the said Ol r of Salt Lake Ahms, by the ordin-
ance above recited, caused these bond' to be signed and delivered
and the corporate seal of to said City to be thereto attaehed,by the
mayor and City Recorder on this first toy of July, 1901.
Mayor.
City Recorder.
C O U P O N .
$20.00 No. .....
On the first dray of 19 the City of Celt Lake,
Utah, will bey to bearer at the City Treisuper's offiee, or, at the
option of the holder, at the banking tame* •f Wells P*PgO & Co, in the
City of New Yerk, twenty dsUmrs in lawful maw of the United States,
be9.ing six months interest en kW refunding bond numbered
Dated July 1, 1901.
City Recorder.
(Certificate to be endorsed on bask of bond.)
It is hereby ee•rtified, pursuant to nation 146 of the Revised
Statutes of Utah, that the within bond is within the lawful debt limit of
the City of salt Lake City, Utah, and is issued ...cording to law.
Dated July 1, 1901.
City *editor.
Sec. 3. Upon the execution of the said bonds, they shall be
delivered to the e .id firm of Parson, Leach & Company upon the ;payment of
the purchase pries thereef* set heretofore agreed, provided, however, that
none of the said bonds shall be issued unless and until a like amount of
the outstanding bonds issued pursuant to said resolution of June 9th, 1091
has been surrendered and eaneelled.
See. 4. There shall be set aside Out of the revenue of the said
City semiZannually a sum suffieient to pay the interest upon said bonds,
and for the pa.ment of the principal and interest of the said issue of
bonds, the faith and credit of Salt take City is hereby pledged.
See. 5. This ordinance shall take effect immediately upon its
approval and ublie,;tion in a newspaper p published inaa City of Salt Lake,
and any resolutions inconsistent herewith are hereby repealed.
Passed by the City Council of Salt Lake City, Utah, this \�...
day of June, 1901, and referred to the .. or for hip approval.
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Approved this ... ... 4. • • dmy of,J ne, 1901.
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STATE OF UTAH,
i City and County of Salt Lake.
I, ,;City Recorder of Salt Lake City, Utah, do hereby
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certify that the above and o'rer oint. is a full,true and correct co z o an ordin-
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passed by the ity Council of Salt Lake City, Utah,3il<1iLtR,..._.. Lam....... ,190.‘.
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and approved by the Mayor, : . L . 190..1, as appears of record
iI in my office.
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I1 In witness whereof; I have hereunto set ,ny hand and affixed the corporate
seal of said city, this . ......_._........_....day of .. ti ,ne.... 1901.
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j City Recor er.
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Presented to the City Council,
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-JuNi, 1901
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