355 of 1900 - Ordinance 355 of 1900 – Providing for issuing & disposing of certain bonds for purpose of increasi •
BILL !40.....`:. . for
Am o di e amending an ordinance passed under the designation
of 'Pill '•o. 5 an app e July 27th, 190e, providing for issuing and
disposing , cer.ain and by S t y. ?e City er • irat r th 'ass
- ' . -- r systtim , an
Tul;,r 16th, 1900.
-.- BILL NO.Wit NOR AN ORDINANCE. .t
pviding for issuing and disposg of
certain bonds by Salt Lake City / / ���
corpo-
ration,fur the purpose of in o.reeeing the 1J
water supply and improving waterworks
system of said Salt Lake City corpora-
tion,as authorized by a vote of the tax- W
Payers of said city on July LR 1:N10.
•
•
See. 1. That for the purpose of increasing the water supply and
•
• improving the watwrworks system of Salt Lake City, the Committee of 'inane :
of the City Council are hereby authorized to take all necessary steps •
•
• looking toward the issuance and sale, of $250,000 in bonds of the folliTing
denominations: •
100 bonds of the denomination of $500.00 each, and
• 200 bonds of the denomination of 01000.00 each.
•
Sec. 2. Said bonds shall be known as Salt lake City Water Bonds, •
•
and issued and sold for the express purpose of increasing the water supply
• and improving; the waterworks system of Salt Lake City. 040k
Sec. 3. Said bonds shall boar .the date of , 1900, and
shall be payable twenty-years from date, and shall be numbered from one •
• to 300 inclusive. The principal of said bonds shall he payable at the
office of the City Treasurer of Salt Lake City, and interest shall, be made
• payable at either salt Lake City or New York City. Both such principal
and interest shall be payable in lawful money of the United States.
Sec.' 4. Said bonds shall bear interest at a rate not to exceed •
•
four per cent per annum payable semi-annually.
•
Sec. 5. Said bonds shall bear coupons for the interest, so arranged
•
that they may be detached without mutilation of the bonds, said interest
bonds to bear the signatures of the t'syor and City Recorder, either by
the`r own hand or by lit'ogtaphic copy of each.
•
Sec. 6. The Mayor and City Recorder are hereby authorized and •
directed to s n and deliver said bonds to the purchasers thereof on
iL _ 355
BILL B'o.:. ' . .
'� . . 'tor
An o di e amending an ordinance passed under the designation
of Pill "a. 5 an app e July 27th, lfrfs, providing for issuing and
disposing eer.ain and by S t T .e City )•r rat r th ost
en?' increasing water su y and impr ens t e to r eyst,dm , as
eethorized by a vote' of the tax payers of sal City on July 10h, 1900.
ordained
Be it ordained
sec. 1. That for the purpose of increasing the water supply and
improving the waterworks system of Salt Lake City, the Committee of 'inane
of the City Council are hereby authorized to take all necessary steps
looking toward the issuance and sale, of $250,000 in bonds of the folleWing
denominations:
100 bonds of the denomination of $500.00 each, and
--1
200 bonds of the denomination of $1000.00 each.
Sec. 2. Said bonds shall be known as Salt Take City Water Bonds,
and issued and sold for the express purpose of increasing the water supply
� I
and improving the waterworks eye'em of Salt Lake City. aia
Sec. 3. Said bonds shall bear .the date of/ , 1900, and
shall be payable twenty-years from date, and shall be numbered from one
to 300 inclusive. The principal of said bonds shall ee payable at the
office of the City Treasurer of Salt Lake City, and interest shall be made
payable at either salt Lake City or 'New york City. Both such principal
and interest shall be payable in lawful money of the United States.
Sec. 4. Said bonds shall bear interest at a rate not to exceed
four per cent per annum payable semi-annually.
See. S. Said bonds shall bear coupons for the interest, so arranged
that they may be detached without mutilation of the bonds, said interest
bonds to bear the signatures of the SSayor and City Recorder, either by
the'r own hand or by lit'ogaphio copy of each.
Sec. 6. The Mayor and City Recorder are hereby authorized and
directed to sign and deliver said bonds to the purmkaeere thereof on
355
behalf of said City and shall attest the same by the corporate seal of
said City.
See. 7. The City T?ecorder is hereby instructed to advertise for
bids for said bonds for a period of ten days, said advertising to be done
under the instructions of the Finance Committee of the Council.
el'
Fee. e. The revenue from the waterworks department shall hereafter
be kept in a special fund by the City Treasurer, and said fund shall be
expended as follows: First, a sufficient part thereof shall be :et apart
to pay the interest upon the issue of bonds provided for by this ordinance
Second so much thereof as may be necessary shall be used for the general
maintainance of the waterworks sysem and such extensions and improvements
as may be from time to t±me ordered by the city Council. Third, after
paying interest on said bonds and e xpenditures for maintainance and
improvements as above provided, the revenue remaining shall he set aside
and placed in a special fund for the purpose of redeeming such bonds as
may be issued for waterworks purposes including the bonds herein provided
for. Provided, however, that said special fund may be invested from time
t to time by the Finance Committee of the City Council, subject to the
approval of the mayor and City Council, in bonds of the United States, the
State of Utah, City or County of salt Lake, or Felt Lake City School
bonds, and provided, further, that when the fund so created shall equal
the amount of bonds issued for waterworks purposes, then and thereafter
_the net revenues of the waterworks department after paying expenses,
improvements and interest, shall be placed in the general fund.
Sec.*. The bonds issued under the provisions of this ordinance shal
be exempt from taxation by Salt. ;Ake City.
and the ordinanc Ir amended
Seer=-10.. This rdinance s e in Three from and after the
approval.of this ord
7/_ GCS CO
Aga t� -� Gil��{ x
0,,t yZf_Aff
behalf of said City and shall attest the same by the corporate seal of
said City.
Sec. 7. The City necorder is hereby instructed to advertise for
bids for said bonds for a period of ten days, said advertising to be done
under the instructions of the Pinance Committee of the Council.
Feu. O. The revenue from the waterworks department shall hereafter
be kept in a special fund by the City Treasurer, and said fund shall be •
expended as follows: Pir;;t, a sufficient part thereof shall be :et apart
1
to pay the interest upon the issue of bonds provided for by this ordinance i
Seeond,so much thereof as may be necessary shall be used for the general i
maintainanee of the waterworks system and such extensions and improvements
as may be from time to time ordered by the "its Council. Third, after
paying interest on said bonds and e xpenditures for maintainance and
improvements as above provided, the revenue remaining shall be set aside
and placed in a special fund for the purpose of redeeming such bonds as •
may be issued for waterworks purposes including the bonds herein provided
for. Provided, however, that said special fund may be invested from time
to time by the Finance Committee of the City Council, subject to the
approval of the mayor and City Council, in bonds of the United 'tates, the
Sec. 9. Salt Lake City hereby pledges its credit for the pa4'ment of
' said bonds and interest as the same fall due.
improvements and interest, shall be placed in the general fund.
Sec.h. The bonds•issued under the provisions of this ordinance shal
•
be exempt from taxation by Salt Fake City. •
and the ordinanc y amended
See--C.. This rdinance s e in fhrce from and after t$e
approval.of this ord
�� // GZ
Passed by the City Council of Salt Lake City August 7, 1900,
and referred to the Mayor for his approval
/�
/2
City Recorder.
Approved this 9 i `day of August, 1900.
4i/fa, Mayor.
, .
lre
...1 . i!
....
,............1 +.: : .
\45r 1
,...„.
,,..: ..., .
. I
. 1 ' 'Fr (•,/ j.r- . .
/1
! ,
‘..
. i..-
, 1 1
. N
1
•I)
•- ''' .
i I
. ,_
...•
......___ 1 '
! ,
. 1
i
1 i
I
i