35 of 1935 - Providing for the issuance and sale of $50,000.00 Salt Lake City, Utah, Bonds, Series of July 1, 193 / '7 Rec. /0.4
ROLL CALL
Ray 18 5193. .
VOTING AYE NAY Salt Lake City, Utah,..
.--'
1 vi-----
I move that towicastwe #35 by Mr Idarcw I i
Goggin
1
Keyser V be adopted.
Knight V
____..-----
Lee
,/r-
Mr. Chairman - - .11—I
Result
The Board of Commissioners of Salt Lake City, Utah met
in session on the day of July
IA. D. 1935.
On roll call the following members were present:
Mayor —_—�
Commissioner
Commissioner
Commissioner
Commissioner
Absent:
9
Commissicner introduced and moved the
ladoption of the following ordinance„ whic'h ordinance was ready in
full by •
ORDINANCE NO.
AN ORDINANCE PROVIDING t'OR THE ISSUANCE AND SaLE OF
f $50,000.00 SALT LAKE CITY, UT di BONDS, SERIES OF
JULY 1st, 1935.
WHEREAS, under the provisions of Section 2, Chapter 8,
;Title 15, Revised Statutes of Utah 1933, the Board of Commissioner ,
`bare authorized and empowered, among other things, to appropriate
money for corporate purposes, and to purchase, receive, hold, sell
; lease, convey, and dispose of property, real and personal, for
thebenefit of the City and to do all things in relation thereto as
natural persons, and that it shall be deemed a corporate purpose
to appropriate money for any purpose which in the judgment of the
'Board will provide for the safety, preserve the health, promote
the prosperity, and improve the morals, peace, order, comfort,
land convenience of the inhabitants of the City, and,
WHEREAS, under the provisions of Section 6, Chapter 8,
E '
STitle 15, Revised Statutes of Utah 1933, the Board of Commissioner .
f
lis further authorized and empowered to borrow money for corporate
purposes in the manner and to the extent allowed by the Constitution
land Laws and to issue bonds therefor in such amounts and forms
land on such conditions as the Commission! shall determine,
! and
3
WHEREAS, in the juugnent of the Board of Commissioners, in order to
provide for the public safety, preserve the public health and improve the
comfort and convenience of the inhabitants of said Salt Lake City, there is
immediate and pressing need of raising funds to the amount of Fifty Thousand
Dollars ($50,000.00) to defray the expense of purchasing that certain real
estate situated within the Corporate limits of said Salt lake City known as
all of Lot 3, 4, 0, 14, 15, and 16, Block 45, Ten Acre Plat "A", Big Field
Survey, heretofore owned by the Forest Dale Golf Club, the same to be used for
corporate purposes only, and,
,:a REAS, the City is without the necessary funds at this time with
ich to purchase said real estate, and,
WHEREAS, said sum of Fifty Thousand. Dollars may be raised at this
'ime without incurring any indebtedness or liability in excess of the taxes of
said City for the current year 1935.
NU"J, THEREFORE, BE IT ORDAINED BY THE BOARD OF CO vDIISSIONERS of
'LT LAKE CITY, UTAH, as follows:
Section 1. That for the purpose of raising funds to defray the
.xpense of purchasing that certain real estate situated within the Corporate
imits of said Salt Lake City, Utah known as all of Lot 3, 4, 5, 14, 15, and
6, Block 45, Ten Acre Plat "A", big Field Survey, heretofore owned by the
morest Dale Golf Club, the same to be used for corporate purposes only, said.
.alt Lake City shall borrow the said sum of Fifty 'Thousand Dollars (450,000.00)
d for that purpose as evidence of such indebtedness, is sue fifty (50)
.onds therefor of the denomination of 1,000,00, numbered from one (1) to
fifty (50), inclusive. Said bonds shall bear date of July 1st, it. D. 1935,
shall bear interest at the rate of two per cent (2%) per annum from date until
paid, which interest shall be paid semi-annually on the first days of January
and July each year, in accordance with interest coupons thereto attached and
.oth principal and interest shall be payable at The National City Dank of
New York in New York City, New York. The Principal of
2�
said bonds shall become due and payable serially as follows: Five Thousand
Dollars (35,000.00) on the first day of July in each of the years 1936 to
1945, inclusive.
2. That said bonds and each of them, except as to date of maturity
shall be in substantially the following forms
UNITED STATES OF AIRICA
STATE OF UTAH
SALT LAKE COUNTY
SALT /AKF CITY BOND
SERIES OF JULY 1st, 1935
0. *1,000.00
KNOW ALL MN BY THESE PRESENTS:
That Salt Lake City, in Salt Lake County, State of Utah, hereby
cknowledges itself to be indebted and for value received hereby promises to
P:y to the bearer hereof the sum of ONE THOUSAND DOLLARS ($1,000.00) in lawful
Toney of the United States of America on the first day of July, A. D. 19 , at
Ile National City Bank of New York in New York City, New York, with interest
'hereon at the rate of two per cent (2%) per annum from date until paid, payable:
emi-annually in like money on the first days of January and July in each year,
id interest to maturity being represented by interest coupons hereto attached.
This bond is one of a series of Fifty (50) bonds of like date and amount,
umbered from One 1) to Fifty (50) inclusive, for the aggregate sum of Fifty
•ousand Dollars ( 50,000.00) issued pursuant to the provisions of Section ',
(,,.....A � i$xi
g, c crettt t4i7QY 6, Cliapter 8, Title 15, Revised Statutes
•If Utah 1933.
It is hereby certified, recited and declared that the entire indebtedness
f said City hereby incurred, together with all other indebtedness incurred by
,aid City for and during the year 1935, is not in excess of the taxes of said
lity for the current year, 1935.
It is hereby further certified, recited and declared that all conditions,
cts, and things essential to the validity of this bond exist, have happened
'nd have been done and that every requirement of law affecting the issue thereof
s been duly complied with, and that this bond is within every debt and other
imit prescribed by the Constitution and Laws of said State and that the full
aith and credit of said Salt Lake City are hereby irrevocably pledged to the
.unctual paymait of the principal and interest of this bond according to its
erns.
IN WITNESS WHEREOF, said Salt Lake City, has caused this bond to be
signed by its Mayor, its corporate seal to be hereunto affixed, and attested
its City Recorder, as of the first day of ais}y„1955.
Mayor.
fittest:
City Recorder.
(Seal)
4.
To each of said bonds shall be attached a coupon for each installment
of interest, which said coupons shall be consecutively numbered, beginning with
number one (1), with the several dates of payment and number of bond. Said
coupons shall be in substantially the following form to-wit:
(Form of Coupon)
No. $10.00
On the first day of Yanuary-duly, A. D. 19 , Salt Lake City, Utah
will pay the bearer hereof at The National City Bank of New York in New York
City, New York, the sum of Ten Dollars ($10.00) in lawful money of the
United States of America, being six months' interest then due, on its coupon
bond dated July 1, 1935.
(tao-simile Signature)
City Treasurer.
There shall be endorsed on each of said bonds the following:
"I hereby certify that this bond is within the
debt limit of Salt Lake City, Utah, and is issued
according to law.
City 44ud .' -ir
Said bonds and each of them shall be signed by theMayor and
attested by the City Recorder and sealed with the seal of said City and said
coupons shall bear the original or fats-simile signature of the City Treasurer.
The Mayor of said City is hereby authorized, empowered and directed to eisali,
and the City Recorder to sign and attest and affix the seal of said City to
each of said bonds and the acts of said Mayor and Recorder in so doing are
ind shall be the act and deed of said Salt Lake City.
3. BE IT FURTHER ORDAINED, THAT T!HEF?EAS, Snow, Goodart & Company,
s Utah Corporation, has offered to purchase said bonds, as and when said bonds
iay be and are legally issued and delivered, paying therefor a price satisfactory
to said City, which said offer is in words and figures as follows, to-wit:
5.
Hon. Mayor and Board of City Commissioners
Salt Lake City
Utah
Gentlemen:
For *50,000.00 of par value Salt Lake City notes maturing
one to ten years, bearing interest at the rate of 2%, we will pay you par
and accrued interest.
We will furnish the bonds and legal opinion without cost to the
City.
Respectfully submitted,
SNOW, GOODART & COMPANY
By W. G. Goodart
6.
NOW, TFiE'R FOEE, BE IT FURTHER ORDAINED, that the offer of said.
Snow, Goodart & Company, be and the same is hereby accepted and the Mayer of
said Salt Lake City is hereby authorized and directed to sign, execute, deliver
and issue as the act and deed of said Salt Lake City, the said bonds to Snow,
Goodart & Company, upon receipt of the purchase price therefor in accordance
with the terms of said bid.
4. A4 IT IS 9U jR OHDAIDED, that after said .s are issued, this
Ordinance shall n e and rem awn.‘
untly4.d bo and the interest
N
ro -t- thereon shall h x4"f. *been fu paid, satisfiec�az jariar as herein provided.
i a
5. ANI6i"ld('E1HE&S, necessary fo , �n{�diat preservation of the
�. n .:� • �t�!�:.:'
t=J- peace, health tug, $it.feq oY Said City that the 1tese bonds be
.3 available immedr te1y for the;Rurpose herein et th,
Q
NOW, T GREFORE,'I'P;IS FJRTHIM ORDAINED t at th s rdinance shall be in
force and take effect upon the day of its passage,\pproval and publication.
PASSED by the Board of Commissioners of Salt Lake City, Utah, Salt
Lake County, State of Utah this /" "day of July, A. L. 1935.
yor.
Attest
ty teeor er.
(Seal)
APPROVED this day of July, A. D. 1935.
yor.
Attest
r y con er.
(Seal)
Commissioner seconded the adoption of
the foregoing Ordinance 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:
"Aye"
hiwyor
Commissioner "Jyen
COrIU3T2 8T over. _- 0%6t.
T,!tt?.DL t 6t1
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r-- state and that then
•OR .. - - credit of said Salt
AN.,OEDIN• . '' • • ' r' - a e City are hereby irrevocably
'FOR:THE ISSUANCE AND pledged to the punctual payment
SALE,OF '$50'000.00 SALT of the principal and interest of -
-LAJOE,CITY;UTAH,BONDS, this bond.according to its torma.
SERIFS OF JULY 1st,1935: IN- WITNESS WHEREOF
WHEREAS,`under the provi- said Salt Lake City has caused
sines..of Section,.2, Chapter 8, this bond to be signed by its
Title .15, Revised Statutes of mayor, its corporate seal to be r
Utah,.1933, the Board-of Corn- 'hereunto affixed,and attested by ,r�yhiiration
misslupers are authorized and its city recorder,as of the first ii ` ,V•{�`
empowered;.among.other things, day of July,1935. -.
to appropriate-money for cor$o- Mayor.
•?ate,phrposes,and to purchase,
.receive,hold,sell, lease,convey Attest:
and dispose of property,real and
petsolfal,for-the benefit of the City Recorder.
sitf''add to do all things in rola- (Seal)
lion thereto as nattlral persons, To each of said bonds shall
.a0dJWbtit,sliallhg,4eensed-aeon- . be attached a coupon for each
porsts,purpose to appropriate instalment of interest, which
money-ter...sr&purpose which in said coupons shall be consecu-
'o,.i,ip,,judgment of the board will tively numbered,beginning with
provide for-the safety„preserve number one(1),with the several
he.health,promote the prosper- dates of payment and number of
cl',and improve the morals, bond. Said coupons shall be in
peace,,order, comfort and con- substantially the following form,le ce of thq:.tnba P. THOMPSON
bitants of to-wit:(Form of Coupon)
5..e1).lad -• $10.00
-dtu EAS under the provi- No.—
r" siobs-of Section 0 Chapter 8. On the first day of January-
Title 15, Revised Statutes of July,A.D.19—,Salt Lake City,porn,deposes and says,that he is the Principal Clerk
Utah,1933,the Board of Commie- Utah,will pay the bearer hereof
' done-a is further authori6ed and at the National City Bank of
empowered,to borrow money for New York In New York City,
-corporate purposes in the man- New York,the sum of Ten Dol-.KE DAILY TRIBUNE, a newspaper published in
/'fer;add to,the extent allowed by lays ($10,00)in lawful money of
f! -the constitution and laws and the United States of America,be-
to issue,bonds therefor in such ing six months'interest then due,alt Lake County, State of Utah. ,
.:_amounts and forms and on such on its coupon bond dated July 1,
conditions as the commission 1935. (Far-simile Signature)
shall determine'and, lice AN ORDINANCE..
WHEREAS, in the judgment
...,., of the Beard of Commissioners, City Treasurer
in,order to provide for the pub- There shall be indorsed on
lie safety, preserve the public , each of said bonds the follow- SALT..LAKE...CITY_.O.ORP.ORATION.
bealtJh.and improve the comfort ing: ,
and.,convenience of the inhab- I hereby certify that this bond'
itants of'said-Salt Lake City, is within the debt limit of Salt
there Is immediate and pressing Lake City, Utah, and is issued
need,of raising funds to the according to law. I'
amount of fifty'thousand dol-
lars ($50,000) to-defray the ex- City Auditor
penseof;purchasing that certain Said bonds and each of them
real estate Situated within the shall be signed by the Mayor
corporate limits of said Salt and attested by the City'Record-S heretoattached,was
first published in said news-
:d..Lake City known as all of lots er and sealed with the seal of
' 8,4,'5,14, laand 16, block 45, said city„and said coupons shall
ten acre plat"A,"Big Field cur- bear the original or far-simile 20thvey, heretofore owned by' the signature of the City Treasurer:dated the
,Fopeegt,Dale Golf club,the same The Mayor of said city is herebyi
t,1 E10dfopeorporate purposes authorized, empowered and di I
rented to sign,and the City Re- JUlY , 193 g ,
pnWFIE AS;the city is with- corder to sign and attest and -
out the necessary funds at this affix the seal of said city to each
• time with which to purchase said of said bonds-and the acts of ,d in each daily issue of said newspaper, on ,
real estate; and, said Mayor and Recorder in so '
WHEREAS,said sum of fifty doing are and shall be the act
c thousand dollars map be raised' and deed of said Salt Lake City.
at-this time without incurring 3. BE IT FURTHER OR- 5O.th. for
any indebtedness'or liability in DAINED, THAT WHEREAS -
excess of•the taxes of said city Snow, Goodart & Company, a
.for the current year 1935. Utah corporation,has offered to period of One insertion
NOW,'THEREFORE BE-IT purchase said bonds,as and when ---
ORDAINED BY THE BOARD said bonds may be and are legally
or COMMISSIONERS OF issued and delivered, paying .
SALT LAKE CITY, UTAH, as 'therefor a price satisfactory to the last publication thereof
fellows:, said city,.which said offer is in
'Section 1. That for the pur- words and figures as follows,
pose,of raising,funds to defray to-wit: dated the 20th- day of
the-expense of purchasing that Hon.Mayor and Board of City
%_`certain real estate situated with- Commisioners,
in the corporate limits of said Salt Lake City,Utah.
Salt Lake City,Utah,known as Gentlemen: ,A.D.193 e?
all of iota 3,4,5,14,15 and 16, For$50,000.00 of par value Salt
block 45,ten acre plat"A,"Big Lake City notes maturing one to
Field survey, heretofore owned ten years,bearing interest at the
by the Forest Dale Golf club, , rate of 2 per cent,we will pay
m
tide e taibe used for corps- you par and accrued interest.
rate )1rposes only,sal@ Salt Lake We will furnish the bonds and
•Grit'shall borrow the said sum legal opinion without cost to the 20th dayof
of tijty.thousand dollars ($50,- .city. -
000),°and for that purpose as Respectfully submitted,
evidence of such indebtedness, SNOW,GOODART&CO. l
issue fifty(50)bonds therefor of By W.G.Goodart. F
the d0nd tnati,pn.,,Of $1000.00 - "NOW, THEREFORE,13E IT S
numbered flom one (1) to fiftty 1$UR'I'HER ORDAINED that the //�/OLf'�_
(60),Inclusive.. Said bonds shall offer of said Snow, Goodart & / " ,
bear,date of July lst,A.D.1936, Company be and the same is. A,
shall bear interest at the rate of hereby accepted and the Mayor l G L '��'
ti»o-per cent (2 pet)-per an- of said Salt Lake City is hereby Notary Public.
nuns from date until paid,which authorised and directed to sign,
-f nterest'shall be•_paid'semian- execute,deliver and issue as the
•
Advertising fee $
3�-:
SALT LAKE TRIBUNE, SATUI act and deed of said Salt Lake°
City, the said bonds to Snow,
nually on the first days of Jan- Goodart & Company, upon re-S
nary and July each year,in ac- ceipt of the purchase price=
cordance with interest coupons theref or in accordance with the
thereto attached and both prin- ,terms of said bid. e
cipal and.interest shall be pay- 4. AND IT IS FURTHER OR-
able at the National City Bank DAINED that after said bonds
of New York in New York City, are issued this ordinance shall c
New York. The principal of be and remain irrepealable until
said bonds shall become due said bonds and the interest
and payable serially as follows: thereon shall have been fully=
Five thousand dollars ($5000.00) ' paid,satisfied and discharged as
on the first day of July in each herein provided. Z
of the years 1038 to 1945,inclu- 5. AND WHEREAS it is nec-e
sive. essary for the immediate preser-_
2. That said bonds and each vation of the peace, health and
of them, except as to date of• safety of said city that the pro-
maturity, shall be in substan- ceeds of these bonds be avail-
tially the following forms: able immediately for the pur-i
UNITED STATES pose herein set forth, .
OF AMERICA NOW, THEREFORE, IT IS
STATE OF UTAH FURTHER ORDAINED that i
SALT LAKE COUNTY this ordinance shall be in force-
SALT LAKE CITY BOND and take effect upon the day of i
SERIES OF JULY 1st,1935 its passage,approval and publi-_
No. $1,000.00 cation.
KNOW ALL MEN BY 7.'FIESE PASSED by the Board of Com-i
PRESENTS: missioners of Salt Lake City,
That Salt Lake City,,;iry Utz;h,Salt Lake County,State of i
Lake County, State'elf— Utah, this 18th day of July, A.
hereby acknowledges ftigjf'6. l D.1935.
indebted and for value repc6- LOUIS MARCUS,
hereby promises to pay to Mayor.
Attest:
bearer hereof the sum of O Ethel Macdonald,
THOUSAND DOLLAR CityRecorder.
($1000.00),in lawful money of the
United States of America on the (Seal)
BILL NO.35. s
first day of July,A.D.19—,at
the National City Bank of New Published July 20,1935.
York in New York City, New
York, with interest thereon at
the rate of two per cent(2 pct.)
per annum from date until paid,
payable semiannually in like
money on the first days of Jan-
uary and July in each year,said
interest to maturity being repre-
sented by interest coupons hereto
attached.
This bond is one of a series of
fifty(50)bonds of like date and
amount,numbered from one (1)
to fifty(60),inclusive,for the ag-
gregate sum of Fifty Thousand
Dollars ($50,000.00) issued pur-
suant to the provisions of Section
6,Chapter 8, Title 15, Revised
Statutes of Utah,1933.
It is hereby certified, recited
and declared that the entire in-
debtedness of said city hereby
incurred,together with all other
indebtedness incurred by said
city for and during the year
1935,is not 1n excess of the taxes
of said city for the current year,
1935.
It is hereby further certified,
recited and declared that all con-
ditions,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 there-
of has been duly complied with,
and that this bond is within eN/