35 of 1932 - Providing for the issuance of $700,000.00 Refunding Bonds, Series November 1, 1932; ROLL CALL
Salt Lake City,Utah, Nov. 8th ,193 2
VOTING AYE NAY
Finch I move that the ordinance be passed.
Keyser V_t,
Knight
Lake
Mr.Chairman - - r
Result C�/C -�-�—tJ
Commissioner of public Affairs & Finance.
AN ORDINANCE
AN ORDINANCE PROVIDING for the issuance and sale of Seven Hundred
Thousand Dollars ($700,000.00) Refunding Bonds of Salt Lake City, Utah,
Series of November 1, 1952.
OIEREAS, at a regular session of the Board. of City Commissioners
of Salt Lake City, Utah, held on the 30th clay of December, 1931, said Board
of City Commissioners by ordinance duly passed provided for the issuance
and sale of Seven hundred Fifty Thousand Dollars ($750,000.00) Tax Anticipation
Bonds of Salt Lake City, Utah, Series of January 2, 1952, bearing interest at
the rate of five (5) per cent per annum, numbered and in denominations as
follows:
Numbers one (1) to three (5), both inclusive, in the denomination
of Five Thousand Dollars ($5,000.00) each; numbers four (4) to nine (9), both
inclusive, in the denomination of Ten Thousand Dollars ($10,000.00) each;
numbers ten (10) to twenty-two (22), both inclusive, in the denomination of
Twenty-five Thousand Dollars ($25,000.00) each, and numbers twenty-three (23)
to twenty-nine (29), both inclusive, in the denomination of Fifty Thousand
Dollars ($50,000.00) each, said bonds bearing date of January 2, 1932, and
hf" being due and payable December 5, 1932, and designated as "Salt Lake City
Tax Anticipation Bonds, Series of January , 1932," said bonds being issued
for the purpose of meeting current expenses of said City for the year 1932,
and
NRERLAS, said issue: of Seven Hundred. Fifty Thousand. Dollars
($750,000.00) Tax: Anticipation Bonds was not in excess of the estimated
revenues for the year 1902 and all of said bonds were duly and lawfully
issued. and sold and are now the lawful and valid outstanding obligations
of Salt Lake City, interest on all of said bonds having been paid rromptly
when duo, end none of said bonds have ever been adjudicated to be invalid
and. there is no litigation pending or threatened involving the validity of
said bonds, or any of them, said bonds being the _legal, valid and binding
obligations of said Salt Lake City, and
Urj
°_k i
WHEREAS, general taxes in the State of Utah become delinquent
on November 30th :in each year, and at the time said bonds were issued. it
was estimated that sufficient revenues from the collection of taxes would
be available for the payment of said bonds at maturity, but the Board of
County Commissioners of Salt Lake County, Utah, has extended the delinquent
date for the payment of taxes to December 20, 1932, and Salt Lake City
has, or will have available December 5th, only the sum of Fifty Thousand
Dollars ($;z50,000.00) with which to retire said bonds, and it is necessary
and for the best interests of said City that Refunding Bonds of said City
be issued to provide funds for the payment of the remaining Seven Hundred
Thousand. Dollars (i,700,000.00) of said bonds.
NOW, THEREFORE, BE IT ORDAINED by the Board of Commissioners of
Salt Lake City, Utah:
SECTION 1. That said Fifty Thousand Dollars ($50,000.00) available
for the redemption of said bonds shall be applied to the payment of said Tax
Anticipation Bonds numbers four (4) to eight (s), both inclusive, in the
aggregate amount of Fifty Thousand Dollars ($50,000.00) and that for the
purpose of paying and redeeming Seven Hundred Thousand Dollars ($T700,000.00)
Salt Lake City Tax Anticipation Bonds, Series of January 2, 1952, dated January
2, 1952, and due and payable December 5, 1932, numbered and in denominations
E.s follows:
Numbers one (1) to three (5), :both inclusive, in the denomination of
Five Thousand Dollars ($5,000.00) each; number nine (9) in the denomination
of Ten Thousand Dollars (610,000.00); numbers ten (10) to twenty-two (22),
both inclusive, in the denomination of Twenty-five Thousand Dollars ($25,000.00)
each, and. numbers twenty-three (25) to twenty-nine (29), both inclusive, in the
denomination of Fifty Thousand. Dollars (li"50,000.00) each, aggregating the sum
of Seven hundred Thousand Dollars (4700,000.00), hearing interest at the rate
of five (5) per cent per annum, there shall be issued Refunding Bonds of Salt
Lake City in the amount of Seven Hundred Thousand Dollars (`700,000.00) to
be dated November 1, 1932, bearing interest at the rate of four and one-Quarter
payable semi-annually on January 1st and July 1st it�..�
per cent (44/') perannum, '
_ 5 _ %'t.,r
tt
Ems'
each. year, commencing July 1, 1933, except that the first coupon attached
to said bonds shall provide for the payment of interest due on said bonds
from November 1, 1932, the date thereof, to July 1, 1953, in denominations
of One Thousand Dollars ($1,000.00) each, numbers one (1) to seven hundred
(700), both inclusive, payable serially in numerical order Seventy Thousand
Dollars ($70,000.00) on January 1st in each of the years 1934 to 1943, both
inclusive. Said bonds and each of them shall be, except as to numbers and
maturities, in substantially the following form, to-wit:
/74
- 4 - 1
_ ;
UNITED STATES OP' AMERICA
STATC Ok UTAH
SALT LAKE COUNTY
SALT LAKE CITY REFUNDING BOND
SERIES Of'' NOVIU IBJR 1, 1932
No. $1,000.00
Salt Lake City, in Salt Lake County, State of Utah, hereby
acknowledges itself to be indebted and for value received hereby promises
;o pay to the bearer hereof the sum of
ONE THOUSAND DOLLARS (41,000.00)
in gold coin of the United States of America of the present standard of
weight and fineness on the first day of January, A. D. 19_, at The
National City Bank of New York, in New York City, with interest thereon
at the rate of four and one—quarter per cent (4e%) per annum, from date
until paid, pajyaible semi—annually in like money on the first days of
January and July in each year, commencing July 1, 1933, said interest to
maturity being represented by interest coupons hereto attached.
This bond is issued for the purpose of refunding legal and valid
outstanding bonded indebtedness of said city and is one of a series of
bonds of like date and amount and known as "Salt Lake City Refunding Ponds,
Series of November 1, 1932,"issued under and pursuant to the provisions
of the Constitution and Laws of the State of Utah.
The Board of Commissioners of Salt Lake City 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 as the
same falls due.
It is hereby certified, recited and declared 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
Hereof has been duly complied with, and that this 'bond is within every debt
nd other limit prescribed by the Constitution and Laws of said State, and
that the full faith and credit of said Solt Lake City are hereby .irrevocably
pledged to the punctual payment of the principal and interest of this bond,
according to its terms.
IN dITN S; d'ICIEOE, Salt Late City has codsel this pond to be signed
y :its Mayor and its City Treasurer end. its corporate seal to be hereunto
affixed, attested by its City Recorder, and the annoked coo:coo to bear the
iacsimile signature of the City Treasurer, as of the first day of November,
A. D. 1932.
Mayor
ATTEST: City Treasurer
City Recorder
(SEAL)
ram=
To each of said bonds shall be attached a coupon for each
installment of interest contemplated by said bond, which coupons shall
be numbered consecutively, beginning with No. 1, with the several dates
of payment and number of bond. and shall beer the facsimile signature of
the City Treasurer, Coupon No. 1 shall provide for the payment of interest
from November 1, 1932, the date of said bonds, to July 1, 1933, providing
for the payment of interest in the amount of `!;2S.55, and shall be in
substantially the following form, to-wit:
No. tB.33
On the first day of July, 1955, Salt Lake City, Salt Lake County,
State of Utah, will pay to the bearer hereof et The National City Bank of
Now York, in New York City, the sum of Twenty-eight and 35/100 Dollars
($;28,35) in gold coin of the United States of America of the present standard
of weight and fineness being eight months' interest then due on its Refunding
Bond, Series of November 1, 1932.
Bond No.� CVacmiaailo gi,geaturel
City Treasurer
Coupons numbered 2 and thereafter oholl provide for the payment
of interest at six months intervals end shall be in Substantially the
following form, to-wit:
No 121.25
January,
On the first day of July, 19 Salt Leke City, Salt Lake
County, State of Utah, will pay to the bearer hereof at The National City
'park. of New York, in New York Cit„, the sun of Twenty-one and 25/100 Dollars
W1.25) in gold. coin of the United States of America of the present standard
of weight and fineness, being aLa months' interest then duo on ita Fstund_ing
Bond, Sdries of November 1, 1952.
(facsimile signature)
Bond No. City Treasurer
There shall be endorsed on each of said bonds the following:
(City Auditor's Certificate)
"1 hereby certify that this bond is within the lawful debt
limit. of Salt Lake City, Salt Lake County, State of Utah,
and is issued according to law.
City Auditor, Salt Lake City, Utah."
1 7)
- 6 —
l'
ram'
All the covenants, statements, representations and agreements
contained. in said bonds and coupons end all recitals and representations
of this ordinance, arc hereby considered and understood and it is hereby
ordained and declared that said covenants end promises therein are the
covenants and promises of said Salt Lake City end that the representations
and statements therein are the representations and statements of said City,
and it is further stated and represented that Salt Lake City is a municipal
corporation of the first class under the Constitution and Laws of the State
of Utah.
bal lOd 2. The interest falling due on said bonds on July 1,
1933, shall be paid out of the general fund of said City, and for the
purpose of reimbursing said general fund for said payment of interest and
to meet the principal falling due on said bonds on January 1, 1954 and to pay
the interest falling due on said bonds on Janusry 1, 1934 end July 1, 1954,
there shall be levied in the year 1933 on ell taxable property within said
City, in addition to all other taxes, a direct tax sufficient to produce
the sum of 0118,093.50, being ,46,095.50 for interest and $70,000.00 for
principal. And thereafter in order to raise the necessary funds with which
to pay the interest promptly, as the same falls due, and also to constitute
a sinking fund for the redemption of said bonds when due, there shall be
levied in each of the years 1954 to 1942, inclusive, a direct annual tax
on all taxable property in said City, in addition to all other taxes,
sufficient to produce sums as follows:
YEAR PaINCIOLL TUTEREbT TOTAL
1934 :$y70,000.00 i25,287.50 $95,287.50,
1935 70,000.00 22,312.50 92,512.50
1936 70,000.00 10,357.50 89,357.50
1937 70,000.00 16,362.50 86,362.50-
1938 70,000.00 13,387.50 83,387.50
1939 70,000,00 10,412.50 80,412.50-
1940 70,000.00 7,437.50 77,457.50
1941 70,000.00 4,462.50 74,462.50
1942 70,000.00 1,467.50 71,487.50
Said taxes, when collected, shell be applied solely for the
purpose of paying the interest and principal of said bonds respectively
and. for no other purpose whatever until the indebtedness so contracted
under this ordinance, principal and interest, shall have been fully paid, )' !
ill? )
- 7 -
s!�
satisfied and discharged, but nothing herein contained shall be so con-
strued as to prevent said City from applying any other funds that may be
in the treasury and available for the purpose to the payment of said
interest or principal, as the same respectively mature, end the levy or
levies herein provided for may thereupon to that extent he diminished,
and the sums hereinbefore provided for to meet the interest on said bonds
and to discharge the principal when due, are hereby appropriated for that
purpose, and said amount for each year shall also be included in the
annual appropriation bills passed by the Board of Commissioners of said
Salt Lake City in each year respectively.
SECTION 3. Said bonds and each of them shall be signed by the
Mayor and the City Treasurer and attested by the City Recorder and the
coupons attached to said bonds shall be signed by the facsimile signature
of the City Treasurer. The Mayor and. City 'Treasurer arc hereby authorized
and directed to sign, and the City Recorder to attest and. affix the seal to
each of said bonds and the acts of said Mayor, City Treasurer and City
Recorder in so doing are and shall be the act and deed of Salt Lake City.
SECTION 4. Said bonds shall be issued in place of the bonds to
be refunded and simultaneously with the cancellation thereof.
SECTION 5. That all ordinances and resolutions or parts of
ordinances and resolutions in conflict with the provisions hereof, be and
the same are hereby repealed, and after said bonds are issued, this ordinance
shall be and remain frrepealable until said bonds and the interest thereon
shall have been fully paid, satisfied and discharged as herein provided.
SECTION 6. The City Recorder is hereby instructed and directed
to cause copy of this ordinance to be published immediately in one issue of
Salt Lake Tribune a daily newspaper of general circulation
in and printed and published in Salt Lake City, Utah.
- 6 - t
6a®f°1
SECTION 7. That en emergency is hereby declared and in the
opinion of the Board of Commissioners because of the necessity of
raising funds with which to meet maturing obligations of said City, it
is necessary for the peace, health and safety of the inhabitants of
Salt Lake City that this ordinance take effect isunediately.
SECTION 8. NOW, THEREFORK, BE IT OhDAISED that an emergency
3 his hereby declared and this ordinance shall take effect and be in force
rj ,/1„.8epon the day of its pas age, #pproval 0,14pub cati n
/. Passed by the Board iyfkommiss ¢ners of SaXtryke City, Utah,
(w):4
i � a r, ,end approved this 8th d df Nove�ebery A. D. 199b2 r / J
Mayor
3,1 µ„19ATTEST: y
La �[ City Recorder
(SEAL)
BILL N0L, 35.
The adoption of the foregoing ordinance was seconded by
Commissioner Finch and the same on being put to a vote
was unanimously carried by the affirmative vote of all Commissioners
present, the vote being as follows:
Louis Marcus, Mayor — Commissioner "Aye"
Harry L. Finch, Commissioner "Aye"
George D. Keyser, Commissioner "Aye"
John M. Knight, Commission ".Aye"
Mayor
ATTEST:
City Recorder
(SEAL)
— 9 —
1
arid- Ai .VJAA bv-Asloob 109qarl Ai -orioaaor-se, in Jo:1T .7 .ddIdd&lid
ao adj 1.) niu,o ci wdododnaddidll63 ao iyddcwa odd flodfli0o
it! 1JiC) hi ma b anoii-A311do -,:sitshsdo,t Joe, od doisss dzyjr, abri,;(2
ao Adoodidodai odi- a. vtGas,L, ho iJj.i3oLi tcf,zeq o4J- 'Tog .,,Tsuae000 Ai
.N.ied-Ajhe,;;m1 'Hod oosson.,frJo Aid! ;Sod! colosj
V.1193"191119 VA d'Ati± U8A1AhAO Ti 'eta Ji8LALAJI81 ,:s1051 .8 14.01111;!;c-s
ZJ
90701 III od brie Jo' i,i 1111;JU onrcioih-iss hisiJ 5A11 hs-Y-J000b vio-ind
_
invo-I8o ,o'ssohAoa hji Jo eIII
\ ?„,
• ' ,J*
1 „
, 0_14.44_,G6 lo naestaigsthoDllhlouA 'Ili) o 'nosq
t:k
k ; :Rni 4',A 1•,, ; vo'pr 0 ;LI/
— " °*
!govM
• 11,
4A1,1.
aelY5.-ooeSI
--,--,-- , s, (A.11;q8)
.Uh Liu
d bohnooeA Aoa sporeJaifrio Asfif U cloiskieho
9Jov odJuq go 0M011 01-1J boo AOflir4 1,N101F;81!IWIOD
TiferSOIMESWOO JIG ao ,iJov ,,,v1J30,1draa,1 9dd T,d Fdes- vdadomdmi0
-JoY essi ,jAohe-JA
noNA" ueoila flrammeJ - .covIM 0,13q,1 Loch
lloy,A" heaoiAsssi,Jo0 vricdJ
"o101" Jr.000iAA_Hoo8 s-T:loo0
noy,A" ,js!„-sid.o" .1.. A.401,
•
100M
88 .1.11
CI ,C,q .=
arylof.)9)-1 OiD
(dA. )
'V`Sid"23'-IOU-Soo'ec.§§3513i'ITAnordin ce providing for the Ism- old coin o1 the United States of Amer.
mice and sal fg of seven hundred thou- a of the preemeppt-standard of weight
Band dollem ($700,000.00) Refunding and fineness,being eight months'in.
Beads.of Salt Lake.City,iftah,.8erlee tercet then due on Ste Refunding Bond,
DI isebedber 1,1932,r ,5 .,„Berle,of November 1,1932.
wheleae, t a regular melon of the (Facsimile signature)
Board of:City COmmteeionem of Salt
Lake City;Utah,held ph the-20tri day . City"'3(1'easurer,
of December,1931,said,Boad o1 Olt ,bond NO.-
Condrilesionere. by ordinance .dilly °µpone numbered 2 end thereafter n �' In
d,ee,r dad for the Issuance and 'Shall.Provide for the payment of Inter-
,dale Ali � �►V+�
of Seven hundred tiny trioi1aSad est at:six-montli Internals and shall
of;ar8($750090,00).';Ta4xx Antlelpdtion .be In substantially the following'form,
de 0f B tlLake-City,Utah;Series to-wit: ,
&ry 2,1;932, 00ng Interest at NO.- $31.25
tl0natr o1 flue:($)per cent per annum, January,
numbered and in denominations as fol. On the first day of July, 19..,,
;?aw$: o .- Salt Lake City,Salt Lake County,State
Nltmber.One(I)to three(3),both of Utah,will,pad to the bearer hereof
1ioluolve,.In the den00 h:xenon of five at The Ntew.'yaii City Bank of New
•thousand dollars($5,p00000)each;num York,In brew Yolk'City,the.sum.of
• re,four(4, to pf a(9),both Mehl. Twenty-One and 25100 ddhart.(02}.25)
i „`$g�`t00 Clenemineeldn of ten,thfiti' 'in gold 00in of the.United Statile of
api ddllene,$ ).wap n numbers America of the,preeen¢,standard of
al (10)'t6 tw ty- ei(22),both m 4t 1. we bet six months'
valve,'In the denomination of Owen
ty Elva.thousand dollars ($25,000.00) St :.
ace,and numbers twenty-three(23) $
td twenty-nine(29),both inclusive,Ip "'`"
the denomination of fifty thousand ,1
dollars dote 0.00) each, sald3 bonds
Peeing date of,lanuary-22,1932,and - - .,
llOZ MOW due bad.payable December 5, HARRY i�CLFP
1932,and designated as'salt Lake City
The Anti34ip ilea Bonds,Series of Jan-
try6 2,1932 :said bonds bola;1Saveel
fdr c.:12rp$eJ me Sa c r t .",
sa°�Pga:01 ea�id city '" � being first duly sworn, deposes and says, that he is the Principal Clerk
Whereas,sideLlesue of seven hundred
Yifty th0(000Hd,tioilare($750,00tvoi.tax
Of the apt metedhievenues forlthe excess of the SALT LAKE DAILY TRIBUNE, a newspaper published in
."aannp:lawffud lly ll of
and sold saddare
now'the!eyeful-and valid outstanding
'.pbltlatione of Salt Lake City,interest Salt Lake City,Salt Lake County,State of Utah.
DI said bonds having been paid
..when due,and none of cold
ds ha,_, ex been'adjudicated t0 be
err tri eaten 41 via$ttl0e 0n0 a ty That the Notice Jt �� °'''
oofr§aid bonds or any"qr them,said BAd0 6e1 the legal,Valid a0rd bind.
x0Ylg"oblI*0ttoya o0 sold Bolt Lske`Clty," �I;T LAY; '2 ITY C C C'RAT I G.L..
ah6llerdag,'general taxes 1n the State of u
.tali'Decal-fie delingnent on November
Sots In each year,and a9 the time said
'bends were issued it was estimated that'
sufTlfient revenues from the collection
of dance would be available for the
ppppynleat Of chid bonds et maturity,but
Sloe,Baard of County Utah,heseextere of
.Salt Lake County,date
boo extended
tile delinquent'date for the payment
of texas Fe December 20,1932,and Salt
D�de Cloy has,or will sue available
December Stri only the Sum of fifty! of which a copy is hereto attached, was first published in said news-
wlttot.to'. rs (bonds,
with
winch to retireto" nd raid beaten and t If
.smd'cit y and for the bast bonds
ofinterests of
said be
that refunding bonds of salt
tie,eo ensued to me Sngds en paper in its issue dated the I:J.Zh
the payment.a thelaysremaining seven
hueoked thdu sad dollars($700,000.00)
01 said Londe ', 2
?'lbw,,theref re, be it'ordained by dayof „ V ut.U r I g3 ,
the Board of Commissioners of Salt{
Lake City,Utah:
deniers($so,0000,00)aavailab ty Moraine and was published in each daily issue of said newspaper, on
red0xlption of said bonds shall be ap-
plied to the payment pi said tax an-
titipatlon bonds numbers four,d4),to
eight(a),.both Inclusive,In the Swine I1llmQ,.Q.6)Pir 1J t11 for
gate amount of fifty thousand dollars
(050,000.00)"and that for the purpose
of paying and redeeming seven.hun-
dred thousand dollars ($700,000A0)
Salt Lake City Tan Antlelpetlon Bonds, thereafter, the full period off,Sl.e....y.ns.ext.a..o.n-
8erles of January 2,1939,dated Janu-
ary2,1932,and due and payable De-
cember.5,1932,numbered and in de-
nominationsesfollows: the last publication thereof
Numbers one"(1)to three(3),both
Inclusive;In the denomination of five
thoveaad dollars($5 000.00)each;num-her nine.ine,(0)in the denOmineti0n of
toot,thate(10 tole , ,, 4,00): bon being in the issue dated the 1Jtk1 "day of
thclutive, in t fi ''lion of
twenty-five trio 'are ($25,-
) each ,:i'a twenty-
ttoree
tixee (23) tot (29),both -S:.Y-l:l--'�V P<r ,A.D. 19
Snelueive,in the Ion of fifty
thousand dollar. )-each.eg-,
gregating the a hundred,
typvtlat a dotter 00)),bearing eiW4 6cc,c. _..,
&Y�ereet at the (5)par sent'+ !-/
v pernnum th .Issued Fee- .-�
.Saing Bond ke City 1n
the amount ,'tired thou-
sand dollen(( ate be wed 1 J th dayof
�`rdv6mber 1, -,g interest at_ied and sworn to before me this
4.the at of quarter•yeti
n I,:, ..,.,, d attached
yet
Ins b y-, g July 1,1933, 2
-exegt,t that Sup n attaches''SdoVetrber ,A.D. 193
',twain d bonds shall provide for the
payment of Interest due on seta bonds
om November 1,1932,the date there-
{'to J,nl an 1 del In tlenom0.00)e e h.
nni ing.'one dollars(seven.h eared,
1(4091, melt I (1) e, seven hundred,
(79In nuMend Inc/naal ive,seventy e t ousseriand
any'
.each of.the,years 1934,to 194 both in-
elusive. Said bonds d d each of them
''shall be,except as to numbers and ma-
Unities, In.eun0tantlelly.the follow-
ingsdorm,to-wit:
Notary Public.
Advertising fee,$
■
There n reed on each of
said bonds the following;
(City Auditor's Certlfloate)
•2-herebp.dertify that Shill band'1
Within the lowfill'debt limit of -'
Lake.11lty oaf SY°•'C.vvtyy ila .
'V10h and 1s leaned ggcooWy6ytoy.4.*4
UNITED STATES OF AMERICA ' city Audtldr,Salt Lake City,Utah."
All the covenant,.a e ts,
. STATE OF UTAH " resentattons and agreeme
SALT LANE COUNTY rn ld'bonds and C4
Salt Lake City Refunding Bond edttals-and Mermen
Series 0$November 1,1932 ordinance are hereby
Hd+^-•• $1,000.00 .Understood and it Is
Salt Lake City,in Salt�Lake County, and declared that said
State of Utah, hereby acknowledges promisee therein are th
Itself to be indebted and for value re- promisee of said Salt Lake City and
Delved hereby promises to pay to the that the representations.add atpte
bearef hereof the eum.of- meat therein are the-represlntat1ane
ONE THOUSAND DOLLARS 01,000.00) and statements of said Clty:.and It is
he.geld coin of the United States of further stated a represented.that
America.of the present standard of •Salt Lake City le a municipal corpora-
eelght and fineness on the-first day of lion of the first class under'the Con-
7anuary.A.D.19....at The National ninth n;end Laws of the State of
City,.Bank of•New YorO,In.New York Utah•
.City,with interest thereon at the rat - Section 2. The Interest falling due
of four.end one-quarter•per cent on said boucle on July 1,•1933,shall
:;.t�4 1%) per annum, from date until be paid outof a purperel'fund of.said
,.,payabis'_Aend-annu611yy 1n lake city,.and for he,purposeof.paymre-
money on the first.Says-of"January mg said general fund for said payment
and:July in each year,.commencing of interest and to meet the principal
'JU1y L 1933;said interest to maturity falling due on said bonds on Imagery.
' being reproeented.by.interest coupons 1,1934,and to pay the interest falling
Del
attached. due on said-bonds on January 1,1934;
This bond to issued for the purpose and July 1,1934,there shall'bedevied In
of refunding legal and.valltt outdtend- the year 1933 on all taxable property
Mg-bonded Indebtedness o1 said city within said city, Into addition to all
.and to one of a series of bonds of like other taxes,a direct tax euffl0leat to
,date and amount and known es Salt produce the sum Of'$118,093.50,being
Lake City Refunding Bonds,Series of 648,093.5D for Interest and $70,000.00
November.1,1932, issued under and for principal. And thereafter,in order
pursuant to the provisions of the Con- to raise the necessary ,funds with
tiMition and Laws of the State of which to pay the intent promptly,as
Utah. the same falls due,and also to constl-
The Board of Commissioners of Salt tut a sinking fund for the ere emptlon
Lake City shall annually levy a suffl- of.said b'oach of tnedue,o 1934shall be
01ent.tax to pay the Interest on this levied in each of the years 19.14'to 1942,
bond es'It folio due and:also to con- Mclusive,a direct annual tax onall
stitute a sinking fund for the payment taxable property in said oily;In addt-
ooff���the prmolyal'thereof as the same ton to.all other.taxes,sufficient to
fe•Bs due. produce sums as follows: 0�
3t 1e hereby certified, recited,and 1B34Year...8 0,000e0 $l Interest 50 $95,18760
al
declared that all conditions,,acts and 1935...70,000.00 25,311.50 -95,312.50,
things essential to the validity of this ened,and have 1935...70,000.00 19,337,50 89,339.50
1 been done and that' bond exist,'have aeveryrequirement 1937...70,000.00 16,382,50 86,362,50
of law affecting the issue hereof has 1938...70.000.00 13,387.50•.83,387.50
'been duly complied with,and that'this 1939...70,000,00 ,10,412.50 80,412.50
••bdild Is within every debt and other 1940...70,000.00 7,437.50 77,437.50
limit'prescribed by the Constitution1941...70,000.00 4,462.50 74,462:50
and Laws of said State,and that the 1942...70,000.00 -1,487,50' alien.50
'.'full faith and credit of.said Salt Lake Said taxes,when.a purpd;.shall,be
} City'are hereby irrevocably pledged to applied solely.for the e of pay-.
.the punctual payment of the-principal ing the Interest and principal of said
"and intereot of this bond;according to bonds respectively and for,no other
its terms.` .purposeno'whatever until the indebted-
.ln'oitness'whereof,Salt Lake City ...nee,so contracted under tide vrdll
has Caused tidil bond
to beBauerden' n]lave bee fully intl 4 end dfau
:.'•-
I¢ayyPr;a. er charged but n•. - in Cotitemeill
G ftixed,attested
by its City i order,an• 'shall be so ..prevent Said
'#'fixed,atteeted by its City to bear rrthe far-e,and city from app other:funds
',the
signature a xed of the City Treasurer, 'that may be in y and avail-
"as of the first day o1 November,A,D. able for the •••the-payment
of said fret a:' •uclpal,eo the
193?•. same reepeetiv . .- and the levy
.l AMY.. •or levies lien •ynled.for may
thereupon to.'.. ,.t be Wenn-
Clty Treasurer. lolled, d tic h.-Inbefore pro-
Attest:.--•-,-----'-- aided for to tercet on.Bald
City Recorder. bonds and t Ash,. t44o.��PsrinCilnlall
(Seal) . the duo ate t 4 aemtfor each
To.each of said bonds•shell be at- ' that purpose, -'M1 ,•.cunt for aeon
year shall al ' ,deft ba the.an
'ta ln t rest contmDlat d bynald stallb°nd,
Which coupons shall be numbered eon-
s Lake City 1 eayecttvel.`"t
:becutiueiy,beginning 1,with 'tSettler?hem
shell 3, 't' cis end each of
the several dates of payment and num- -them •' - the Meyoi�an
!'.;•bar Of bond and ehBll•bey'the lac- the City Tr- attested by
'elmlle•signature of the City Treasurer. inch Room,' .e.coupons the
.00Uyon No. 1 shall provide for the at-
tached to .hell be signed
_payment of interest from November 1, -by the a ,':tore of the City
'1932,the date of said bonds t July Treasure. -i1":r and City'Trea-
r"""1;"1933,Drovhe ae or the payment of surer are hereby authorised and di-
rected I the amount of'$38.33,and rested to sign;and the City Recorder
yhall'be`in subetantaally•the to11oW1ng to attest and affix the seal to each of,
'form,to-will $28,33 said bonds,and the act of said Mayor,
'N of July,1933,Satt City are
Treasurer and City Recorder 1n
otin the itret day so doing are and shall be the act and
hake Clty,Salt Lake County.State of deed of Salt Lake City.
Utah,Win.pay to the bearer hereofat Section 4. Said ponds to be le-
•The Natock Cityity,Bank of New York. 'cued in.place of the bonds to be re-
n How York City the sum 0f Twenty- funded'and atmmtaneoudy.With the
cancellation thereof.
Section 5. That all ordinances and
resolutione or part of ordinances and
resolutions In•conflict-with the pro-
' visions hereof, be and the genie are
hereby repealed,and after said bonds
are issued,this ordinance Shall be.and
remain Irreplable until said bonds
and the Interest thereon shall have
been fully paid, satiefieli and Ms-
charged as herein provided.
9ectoln 8. The City Recorder is here-
by instructed.and directed to cause
copy oI this ordinance to be published
Immediately in one.issue of Salt Lake
Tribune, a daily.newspaper of gen-
eral circulation in and printed and
-published in Salt Lake City,Utah:
-hereby
.'.That an a enq{9,1��
of the Board of Commissio lig ne�Decllussee
of the necessity of raising'funds,With
which to meet maturing obligations of
said city,It I9 necessary for the ppepaacce�
health and safety of the.iohabltepts,of
Salt Lake Lety.that this ordl a t-
effect Immediately. ' --•--
Section 8. Now,therefore,belt.yr-
dained decllaredthat an and this ordinance t hereby•
effect-and be in force upon the G6yvif
1t passage,approval and pulilloatlon.
Passed by the Beard of Comrntelom;
ere of Salt Lake City,Utah,and dp-.
proved this 8th day of November,A.D.'
1932. LOUIS MARCUS,Mayor. •
Attest:Ethel Macdonald,
(Seal) City Recorder,
Bill No.35. •
Published November 10,1932.
Fra EN
Z I st
..A. >.
...
c
c
P g 0'4 L.5 L
'4 •.---.: ..: .1= C,1,..j.
C.) •Z ""si :,
....... 6,
P4 •-tt
0
tilt , r:
44 ,
Ila . ......14 P.1
C4
I
i
I
1
. „
0