37 of 1935 - Providing for the issuance and sale of $50,000.00 Tax Anticipation Bonds, of Salt Lake City, Utah, S e. Eno cif risers ef tho Liity of O.A-i. ihhe
Uteih, inditlated by the, official title ,iinpooite oar hereby
sertif.; t'eat wo On tie: day of idc.11
ekx ;Anticapv,A,ion .4sric1 of ‘Ritly /, 113.1.5, of the
1;tabl bond model:red inv., Cl), in the denoxsiaz•ti
be4rinc, intorest et ti.i. rate of two ..:•or omit yet oaIab.Le on the
la.: tifk. of icivo.i...bor, tiritioipad being payabie on dey of
Novembel4 1V51, being et tL date xl sash sii,iriatures the dely ohosua. gwAlifiod
eau x.:otlhe offinern Indicettottt1j nd ..tallter hied. to ezeotito the aside.
fur/emir oortify that LITicii.a.A1 oXnog costars new lox-AUL:in
or I 111C, or the ism/arum and delivery of said bonds
or the kov.x, end collection of totes to posy the prinnipe/ o.rgi intoreat, nox.
in tiny idanuor questioning the )?ro.7...00dinge ,./id author/V 'aliaer ehoth the eeme
ir nada C,r- ffroctiag the of %ni bonds thereunder; tit,t neither the
L.r nor the .zrn..vr; of the press:At
ttlekr respootire o'ficoe le being son/sated: ans. tett no dethority or
for the isisedoce of said bonds have boon repealed, revoked, or row:limed.
"anon eilish of said toe to m4red the following sertifieetei
'I hereby oertity that this bond to thIn tho lawful
debt limit of ...exit tAtke 4ty, Aida, sadi is low/el
ado rtiing tu
dlty Zudidtor./4 '-
374;
....exxo dud delivered et ',wit 1.-ako City, 001: this day of
• 1"1:
1,0,412 .:.:areek. Ayvr, kisit ogiike VitYs'itabx.
.;Aindostald, ,aseorder,estle /eke tab.
V.15L011;:01.174:r txtiko
I horeby Lunt ify o: toi;;ZYZ LI'es if the t,tfloaro above
s.iblaeritoo. '41:1) trio ..41-4 ddeelno•
1/.1(tAi Cgrzleder...
•
COPY
SNOW G0ODART AND COMPANY
WALKER BANK BUILDING
•
REFERENCE SALT LAKE ISSUE PROCEEDINGS SUBMITTED SATISFACTORY IN FORM BUT
SUGGEST THAT BOND FORM IN ORDINANCE BE DATED JULY ONE NINETEEN THIRTY FIVE
STOP REFERENCES IN AUDITORS CERTIFICATE ON PAGE TEN SHOULD BE TO ASSESSED
VALUATION FOR NINETEEN THIRTY FOUR WHICH WE ASSUME IS LAST ASSESSMENT FOR
CITY PURPOSES STOP IN ADDITION FURNISH CERTIFICATE COPIES OF STATUE �'`�tiz ,RAJ
f /
REQUIRED BY SECTION FIFTEEN(EEIGHTY�DASH NINE DASH SE EVISED STATRi'ES�,r, t ,r �Y
b ee
AND OF BUDGET FOR CALENDAR YEAR NINETEEN THIRTY FIVE AS REQUIRED BY
SECTION FIFTEEN DASH NINE DASH FOUR AND ALSO DA A 0 ESTABLIS THAT
.PROPOSED DEBT IS WITHIN MARGIN BETWEEN EXPENDITURES AND REVENUE FOR
7/ NINETEEN THIRTY FIVE STOP THESE REQUIREMENTS NEED NOT DELAY ADOPTION OF
ORDINANCE.
`:'
,� �, PERSHING NYE BOSWORTH AND DICK.
y
41
r
,a71,. ,..„.„,„4,,,A ' ' j
101UTIUN.
A eIZOLUTION LINYING TKKE0 UPON )1.1. Ti. IiEL
2e01, L.;/LT CITT, made taxable by law,
for the year 1935.
ifi; IT ANSOLE D by the hoard of Corxeissimers of ';alt
Lalec 0ity, Utah:
That for the purpose of defraying the necessary and
proper expenses of malt Laiie eity and maintaining the government
thereof, there be and there is hereby levied upon all the real and
personal property uithin rn1t LaLe city, made taxable by law,
for the Tiseal year ending beceeber 31, 1935, a tax of thirteen
(13) eills on eatob dollar assessed valuation of said property.
ald tax is hereby levied avd to be raised for the follow-
Jw pureueeep and is and shall be apportioned to such purposes in
the following manner:
CO;;TING=TZ.20.
To defray contingent expenses, one (1.000) mill on each
dollar assessed valuation of said property.
PITQ1
To defray the expenses of the auditor one hundred thirty-
five thousandth:, (135/1000) of a mill on each dollar assessed
value-
tion of said property.
1,ULLIC LIEr.RL
To 'maintain public libraries and free reading rooms five
hundred fifty thousandths (550/1000) of a eill on each dollar assess-
ed valuation of said property.
;4111: Je4fPULLit;
To defray the expense of the Alpartueet of ublie ,,AVety
four and four hundred forty-four thousandths (4.444) mills on saah
dollar assessed valuation of said property.
PUBLIC PROP41:iTY
To defray the expense of the Department pf Parks and
Public 'Toperty one and one hundred thousandths (1.100).mills on
each dollar assessed valnatioa of said property.
ZT-41T=S
To open, improve and repair streeta ana sidewalks two
and four hnnAred eighty (2.460) mills on wen dollar aseeseed
valuation of wild property.
liCND IT
kor the payment of interest or. outstanding Londe nma to
constitute a ,Aking jeind for the payment of the principal of out-
staiding bonds two and nine hundred fifty-two thoupendths (2.952)
111111 on each dollar assessed valuation of said property.
A.Z1D GIL,TWITIZ
J levy of three hundred thirty-nine thouse4ths (339/1000)
of a mill on each dollar asseased valuation of said property le
r_Tede to the 4ecial Improvement and Cuarantee
It is neoeseary in the opinion of the j,oard of eommission-
ere far the peace, health and safety of the inhabitants of ; lt
La'4e •Aty, Utah, that this resolution shall take effect upon its
passage and an emergency is hereby declared teexiet so that said
levy may be made and said tax collected as required by law.
This resolution shall take effect upon its adoption.
Louis Maras
Adopted by tho ';oard of ,'.:ommiesioners of c.tlt
Utah, this 1st day of zci :eiet, 193h.
Louis Marcus
Ethel Macdonald
CitY Recerdei
P, L )
_11 2
1, Alton Lipman, the undersigned, :Creasure r f ;4611. UO City,
Utah, hereby certify that 1 reeeived from Jnow, Goodart L:o.hrovi, or their
agente or aselole, the purchamt price uf 4?50,00u,00 Tax anticipation Boado of
limit Lake Olty, state of Utah. dated July 1, 1955 bearing intorest th.e rate
of two 1.,er cent (ZA) per annum, peo.ble November 1, 193 5, ant nambered ono (1),
daid bawl bin, in the denomination of ;40,000.00.
The dote or delivtu7 was ;*uvast 7th, 193h.
I 1,,,rther certify tnJt Louis ,:arous, .nyor, 4hel aftationald, iteoorder,
61J1.1 Alt on Ji„ Liparm, Treasurer, the officer" who signed ueid bow ore still
in oface.
The !oirahaso price Wass
inol pal b0,000.0Q
000rued interest 100.00
Total 50,100.00
iaited at jai,. Lake Qa. i, Utah this, 7th. day of Ail,C,1:114• 193 5.
ilirCesUreztf-IA4141.
Jolt Lake City, Utah.
The Board of City Commissioners of Salt Lake City, Utah, met in
regular session on the 1st day of --AuF>>Gt , 1935, at the hour of
10:00 o'clock, A.M. at the regular meeting place of said Board in
the City & County Building, Salt Lake City, Utah,
The meeting was called to order by Mayor Marcus
On roll call the following members were present:
�_.LOUIS IIARCUS , Mayor - Commissioner
Ps H. GOGGIN , Commissioner
GE0. D. ICgYSER , Commissioner
JOYS U. KNIGHT , Commissioner
Aot.__. HAR(TLD B. LEE , Commissioner
Absent: EDVROLD B. LEE
Also present: ETIFTL `"_ACDOTTALD, CITY RECORDER
Commissioner MA.RCUS introduced the following
ordinance and moved its adoption:
AN ORDINANCE
AN ORDINANCE PROVIDING for the issuance and sale of Fifty Thousand
Dollars (050,000.00) Tax Anticipation Bonds of Salt Lake City, Utah, Series
of July 1, 1935.
WHEREAS, there is immediate and pressing need for raising funds to
the amount of Fifty Thousand Dollars ( 50,000.00) for the purpose df meeting
the current expenses of the City for the year 1935 until the payment of taxes
for the year 1935, and
WHEREAS, the tax revenues of Salt Lake City, Utah, for the year 1935
will aggregate One Million Eight Hundred and Seventy-five TheusapdAind no/100
(1,875,000.00) Dollars and the total revenue from all assessed sources will
aggregate Two Million, Eight Hundred Forty-five Thousand ( 2,845,000.00) Dollars;
and
1.
WHERE.' the sum of Fifty Thousand ( 50,000.00) Dollars required
now to be raised is not in excess of said revenue as estimated for the year
1935.
NOW, THEREFORE, BE IT ORDAINED by the Board of Commissioners of
Salt Lake City, Utah:
SECTION 1. That Salt Lake City, Utah, for the purpose of meeting
current expenses of said. City for the year 1935 until the payment of taxes for
the year 1935, shall borrow the sum of Fifty Thousand. Dollars ( 50,000.00) and
for that purpose as evidence of such indebtedness shall issue one bond numbered
one (1) being in the denomination of Fifty Thousand Dollars ($50,000.00).
Said bond. shall bear date of July 1, 1935, shall bear interest at the rate of
wo per cent (2%) per annum from date until paid and the same shall be payable
•t the office of the City Treasurer of Salt Lake City, City & County Building,
in Salt Lake City, Utah. Said bond. shall be designated "Salt Lake City Tax
• ticipation Bond, Series of July 1, 1935." Said bond. shall be due and payable
on the let day of November, A. D. 1935, in lawful money of the United. States
:nd shall bear interest from the 1st day of July, A. D. 1935, said interest
.eing payable on the 1st day of November, 1935. Said bond shall be signed by
he Mayor and attested by the City Recorder under the seal of the city and
shall be registered in a book by the City Auditor for that purpose, and the
ity Auditor shall endorse on said bond, the certificate required by law.
aid bond. shall be in substantially the following form, to wit:
UNITED STATES OF AERICA
TATE OF UTAH SALT LAKE CITY
I o. 1 $50,000.00
TAX ANTICIPATION BOND
Issue of July 1, 1935
The City of Salt Lake, in the County of Salt Lake, and State of Utah, for
value received, acknowledges itself indebted and hereby promises to pay to the
bearer hereof, the sum of Fifty Thousand ($50,000.00) Dollars, on the first
day of November, A. D. 1935, with interest thereon at the rate of two per cent
per annum, payable on the first day of November, A. D. 1935, upon presentation
and surrender of this bond, both principal and interest being payable at the
office of the City Treasurer of Salt Lake City, City & County Building, in
Salt lake City, Utah, in any coin or currency which, on the respective dates
payment of the principal and interest Is legal tender for the payment of pu':lia
and private debts.
This bond is the only one of an issue made by the City of Salt Lake
for the purpose of meeting current expenses of said. City for the year 1935 until
the payment of taxes for the year 1935, under and by virtue of and in full
conformity with the constitution of the State of Utah, the provisions of
Section 6, Chapter 6, Title 15, Revised Statutes of Utah, 1933, and an
ordinance duly adopted and made a law of said city prior to the issue of this
bond, and it is hereby certified and warranted that all the requirements of
law have been complied with by the proper officers in the issuing of this bond.
It is further recited, certified and warranted that the total amount of the
issue which includes this bond, does not exceed any limit of indebtedness or
other limitation prescribed by the constitution or statutes of the State of
Utah or the ordinances of said City of Salt Lake.
The City of Salt Lake has levied in the year 1935 sufficient tax
to pay the principal and interest on this bond as the same shall fall due, and
this bond is issued in anticipation of such taxes for the year 1935.
The faith and credit of the City of Salt Lake are hereby pledged
for the punctual payment of the principal of and the interest on this bond.
IIJ TESTL'VNY VIHLliEOF, the City Commissioners of the City of Salt Lake
have caused this bond to be signed by itsyor,under the seal of said city,
affixed and attested by the City liecorder, all as of them+ day of July
A. D. 1935.
Mayor.
Attest:
y necoraer.
There shall be endorsed on each of said bonds the following City Auditor's
certificate:
"I hereby certify that this bond is within the lawful
debt limit of Salt Lake City, Utah, and is issued
according to law.
City Auditor".
SECTION 2. That all the covenants, statements, representations,
and agreements contained in said bonds, be and the same are hereby adopted
as covenants, statements, representations, agreements and promises of Salt Lake
City, Utah.
SECTION 3. That the Mayor of Salt Lake City is hereby authorized and
directed to sign and execute said bond and the City Recorder is hereby
authorized and directed to attest and affix the seal of Salt Lake City to said
bond, and the City Auditor is authorized and directed to place upon said bond
the certificate in the manner and form set forth above, and the acts of said
Mayor, City Recorder, and auditor in so doing are and shall be the act and
deed. of Salt Lake City.
SECTION 4. That the City Treasurer is hereby authorized to deliver
said bond to the purchaser thereof, as and when said 'bond may be and is legally
issued and delivered pursuant to authorization of the Board of Commissioners
at a regular meeting held. p„ „a+ 1st, , 1935.
SECTION 5. That the Board of City Commissioners have levied in the
year 1935 a sufficient tax to pay principal and interest on said bond as the
same shall fall clue and for the payment of said bond the full faith, credit and
taxing power of Salt Lake City are hereby irrevocably pledged.
SECTION 6. That an emergency is hereby declared and in the opinion
of the Board of Commissioners because of the necessity for funds with which to
meet the current expenses of said City it is necessary to the peace, health,
and safety of the inhabitants of Salt Lake City that this ordinance take effect
upon its passage, approval, and publication.
SECTION 7. Now, therefore, BE IT ORDAINO ha this Ordinance shall
take effect and be in force upon its passage, a
al an publication.
Passed by the Board. of Commissioners of Salt Lake City, Utah, and
approved this day of Auanst
A. D. 1935.
or.
Attest:
co e
TIm adoption of the foroLoing ordinance wad seoonded by
Commiddioner Keyser and the 04.00 on being put to a vote was
unanimously carrod by the affirmative vote of all Commissioners present, the
vote being as follows,
Louis Zarcus i:ayor-Commissioner "Aye"
P. h. Goggia Commissioner "ils.Yo"
George D. Keyser Commissioner it Aye t,
John M. Knight Coassissioner "Aye"
Harold 5. Lee Commissioner
yore
Attest: , _ 1
000r er.
15eall
Commissioner tarts moved that the attached offer
of snow, Goodart & ompany, a 'Utah rporation, for the purchase of
050,000.0C Tax Antioipation hunde of Salt Lake City to be dated July 1, 1955
M maturing November 1, LY65, bowl:tic interest at the rate of 2 be
'000Pted, and the same on being put to a vote was unanimously carried by
the afflr,fative vote of all Commissioners preeent, the vote being as follows,
Louis Marotta rAgyor-Gomaissioner "Ave"
Po H. Goggin Commiseioner "Ave"
George D. Keyser Commissioner dives
.54 Knight Commidsioner "Ave"
Harold Lee Comm $lo, "Ave"
Or.
Attest I/1
1 '
y o e
(Seal)
CITY AUDITOR'S CERTIFICATE
STATE OF UTAH )
( SS.
COUNTY OF SALT LAKE)
I, SAMUEL F. NICHOLLS, do hereby certify that I am the duly
leoted, qualified and acting City Auditor of Salt Lake City, a municipal
lorporation of the State of Utah, and as such City Auditor do hereby certify
I the following facts;
1. Zamt the taxable property within Salt Lake City, according to
the assessment for the year 1934 is One Hundred Forty-eight ,billion, Six Hundred
i enty-eight Thousand, Three Hundred Fifty-seven and no/100 (0148,628,357.00)
I•liars.
2. That the tax levy for Salt Lake City for the year 1934 was 13 Mlle
.ioh on such 4►ssessed valuation would raise One Million, Nine Hundred Thirty-
' o Thousand, One Hundred Sixty-eight and 64/100 (41,97,2,168.64) Dollars„ and
I; =t the total revenue from all sources was Two Million, Seven Hundred Ninety-
' Thousand, Three Hundred Eighty-three and 22/100 (02,795,563.22) Dollars,
lid that the estimated revenues from taxation for the year 1935 is One Million,
i�.ne Hundred Eighteen Thousand, Eight Hundred and Ninety-six and 53/100 (01,918,
='6.33) Dollars, and that the estimated revenues from all sources exceed budgeted
endituree by Sixty-seven Thousand, Seven and 33,100 (067,007.33) and that the
1 tter sum is unappropriated and available for payment of the 050,000.00 Tax
) ticipation Bond dated July 1, 1935 and due November 1, 1935.
3. That the total authorized issue of Fifty 'Thousand Dollars (450,000.00)
Lt Lake City Tax Anticipation Bond, Series of July 1, 1935 and numbered one (1)
s been legally issued within the debt limit of Salt Lake City and within the
timKted revenues for the year 1935.
4. That the total bonded indebtedness of said City exclusive of this
sue of Tax Anticipation Bonds is Eight Zillion, Three Hundred Ninety-nine
ousand and no/100 (08,399,000.00) Dollars, that all of said last mentioned
.nds were duly authorized by vote of the qualified electors of Salt Lake City.
5. That the aggregate amount of floating indebtedness of said
It Lake City of every nature whatsoever, exclusive of bonded indebtedness
July 1, 1935 ceneisto solely of current bills and does not exceed
i
1 r`"
(* 1,273,000.00 ) Dollars.
6. That said issue of Fifty Thousand (450,000.00) Dollars Tax
Anticipation Bonds is made in anticipation of the collection of taxes and
other revenues for the year 1935.
7. That said Salt Lake City Tax Anticipation Bond Series of July
1, 1935, are general obligations and payable out of the taxes to be levied
on all taxable property in Salt Lake City, together with other revenues
received from all sources during said year by said city and the aggregate
amount of indebtedness as incurred in anticipation of the taxes of said year
1938, including this issue, will not be in excess of the taxes and revenues
for said year 1935.
8. That the total amount of cash in the sinking fund Seventy-five
Thousand (y75,000.00) Dollars.
9. That Salt lake City, Utah, has never, within the ten years last
past, defaulted for fifteen days or more in the payment of principal or
interest of any bonded debt, authorized to be contracted by it.
y -or,
Salt hake City, Utah.
•F
P
STATE OF UTAH
( SS.
COUNTY OF SALT LAKE)
I, Ethel Macdonald, the duly appointed, qualified and acting
Recorder of Salt Lake City, Utah, do hereby certify as follows:
1. That Salt Lake City, Utah, is a city of the first class, duly'
organized and existing under and in accordance with the laws of
the State of Utah.
2. That the names of the members of the Board of Commissioners and
other municipal officers of said Salt Lake City are as follows:
Mayer-Louis Marcus - Term expires January 6, 1936
Commissioner-P. H. Goggin - Term expires January 3. 1938
Commissioner-George D.Keyser - Term expires January 6. 1936
Commissioner-John Knight - Term expires January 6. 1936
Commissioner-Harold B. Lee - Term expires ,Ta nuary 3. l 93R
City Recorder -Ethel uacdonald -Term expires when successor is
appointed and confirmed.
City Treasurer - Milton E. Lipman -
appointed andwhen
oenfs successor
is
City Auditor - Samuel F. Nicholls - Term expires JanuaY 3 1 93:
3. That the regular meetings of the Board of Commissioners are held
as follows:
4. That there is no liA gation pending or threatened affecting in
any way the legality of the Fifty Thousand Dollars (450,000.00),
Issue of Salt Lake City Tax Anticipation Bonds, series of July 1,
1935 or any similar issue of bonds issued by Salt Lake City or the
boundaries of said City or the title to office of any of the officers
thereof.
5. That the said Ethel riacdonald as City Recorder and Milton E.
Lipman, City Treasurer, are each of them now in office performing
the duties thereof and that the right of them or either of them to
hold such office has never been questioned and is not now being
contested.
IN WITNESS VIH :EOF I have hereunto set my hand and affixed the
corporate seal of said City of Salt Lake this lot day of August , A. D. 19 5.
(Seal) City Recor er.
STATE OF UTAH
( SS.
COUNTY OF SALT LAME )
I, Samuel F. Nicholls, the duly chosen, qualified and acting
City Auditor of Salt Lake City, Utah, do hereby certify as follows:
1. That the total assessed valuation of the taxable property
of Salt Lake City, as shown by the last complete assessment
for City purposes, being for the year 1934 is as follows:
(a) Total assessed valuation of real estate ti7 115,062,053.00
(b) Total assessed valuation of personal
property 33,566,304.00
Total 148,628,357.00
la.Total assessed valuation, 1930 186,380,650.00
2. That the total bonded indebtedness of
said City is 8,399,000.00
3. That the aggregate amount of floating
indebtedness of said City is 1,273,000.00
4. That the total amount of Waterworks Bonds
included in the total debt is 4,653,500.00
5. That the total amount of Storm sewer
Bonds included in the total debt is $,46,000.00
6. That the total amount of Sanitary Sewer
Bonds included in the total debt is ,600,000.00
7. That all of said 'eater and Sewer Fonds
were issued for the purpose of supplying said
City with water and sewers, and all of said
works are owned and controlled by said
Municipality.
B. That the total amount of Sinking Fund for
Redemption of outstanding bonds is 75,000.00
9. That Salt Lake City was duly incorporated
in the year 1860.
10. That the population of Salt Lake City, as
shown by the Census of 1930 is 140,050
WITNESS IVY official signature to the above and foregoing
statement, this 1st day of August , A. U. 35.
Cita% Auditor, Salt Lake City, Utah.
i1a
REGISTRATION CERTIFICATE
I, SAEUEL F. NICHOLLS, do hereby certify that I am the duly
qualified and acting City Auditor of Salt Lake City, State of Utah; that on
the day of , 1935, I registered in my office Fifty
Thousand Dollars (450,000.00) Tax Anticipation Bonds, Series of July 1, 1935,
of Salt Lake City, State of Utah, said bond numbered one (1), being in the
denomination of Fifty Thousand Dollars ( 50,000.00), dated July 1, 1935 with
interest at the rate of two per cent (2%) per annum, payable November 1, 1935,
the principal of said bond being payable on November 1, 1935.
i
I FURTHER CERTIFY that there is a certificate endorsed on the back of
said bond in the following form, a3 which certificate has been signed by me.
"I hereby certify that this bond is within the
lawful debt limit of Salt Lake City, Utah,
and is issued according to law.
City Auditor"
WIIIVESS my official signature this 1st day of August , 1935.
ity Audi or, sa t e City,trtahe
STATE OF UTAH
SS.
COUNTY OF SALT LW)
I, Ethel Macdonald, the duly appointed, qualified, and acting
Recorder of Salt Lake City, Utah, do hereby certify that the attached and
foregoing is a full, true and correct copy of a complete transcript
issued through this office authorizing and providing for the issuance and
sale of ,450,000.00 in dax Anticipation Bonds, aeries of July 1, 1955, setting
out excerpts froa City Commission minutes, copy of ordinances and resolutions,
proof of publication of ordinance and various City Auditor's finaucia 1
certificates and miscellaneous certificates therein included and as appears of
record in my office.
IN WITNESS UHEREOF, I have hereunto set my hand and affixed the
corporate seal of said City this 1st day of August , A. D. 1935.
y ecordsr o
Salt Lake City, Utah.
STATE OF UTAH
( ss.
COUNTY OF SALT LAKE )
'431 I, Ethel Macdonald, the duly chosen, qualified and acting Recorder
1
c Graf salt Lake City; Utah, dc-! reby certify that all ordinances and resolutions
:J.--''ipassed by the Boakd of Con aj r 3.es 3if Sa] ake City, Utah, in connection
A 0L :Q 6'" ..:,�J ::,aYe
i so with, referring oi, *letting kEy t iS4Uance.5said Salt Lake City of is
, y
Fifty Thousand (i.0:�;,000 00) s Ai dcipation Bonds to be dated July
l y 4,tj I p
' L, 1935, and matff'iissg I�p3Yemb�r 4 A.-4.'",11935 e passed at legal meetings of
:i ,�..�-ff tia
Said Board calle&Thnd held ,�A„ Cptg rda c vrita w and the rules and ordinaces
K'•'i Jttit � i a
, fi 3f said Cityand Piave been du}y,�cfer�led b an books kept for that purpose
l; }x
�. V in my office.
,4 1
IN'iiITNESS WHEREOF I have hereunto set my hand and affixed the
corporate seal of said City this 1st day of August A. D. 1935.
ifk /' 4,4
411#.6rak „I
•i y 'ecor.er.
(Seal)
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STATE OF UTAH ss•
COUNTY OF SALT LAKE
AN ORDINANCE
AN ORDINANCE PROVID-
ING for the issuance and sale of ,
fifty thousand dollars ($50,- F. P. T,-_OMPBOld
000.00)tax anticipation bonds of
Salt Lake City,Utah,aeries of 2
July i, 1935. being first dulysworn,deposes and says,that he is the Principal Clerk
WHEREAS, there is lmme- P Y P
mate and pressing need for rats-
lng funds to the amount of fifty ;
•thousand dollars (00,000.00) for of the SALT LAKE DAILY TRIBUNE, a newspaper published in
the purpose of muting the cur-
rent expenses of the city for the e
taxe until
the
"'
at of
s for the year l 35, nd Salt Lake City, Salt Lake County, State of Utah.
WHEREAS,the tax revenues
of Salt Lake City,Utah,for the
year, 1935 will aggregate one That the Notice ,
million eight hundred and sev-
enty-five thousand and no one-
hundreds ($1,875,000.00) dollars
and the total revenue from all ^ ev-:e_-.- tV--- -??1, ;y_
assessed sources will aggregate t>> -� - "� {11�. � -F -���?
two million, eight hundred for-
ty-five thousand ($2,845,000.00)
dollars;and WHEREAS, the sum of fifty
thousand ($50,000.00) dollars re- '
quired now to be raised is not In
f excess of said revenue as estl-
I mated for the year.1935.
NOW, THEREFORE, BE IT of which a copy is hereto attached,was first published in said news-
ORDAINED by the Board of
Commissioners of Salt Lake
city,Utah: in its issue dated the 2nd
SECTION 1. ,That Salt Lake paper
City, Utah, for the purpose of
meeting culrent expenses of said
eity for the year 1935 until the day of f'- ..u.,^>s - , 193
payment of taxes for the year
1935, shall borrow the sum of •
fifty thousand dollars ($50,- and was published in each daily issue of said newspaper, on
000.00) and for that purpose as 1
evidence of such indebtedness
shall issue one bond numbered
one (1).being in the denomina- 44UfeUSt--".-Ild..• for
ton of fifty thousand dollars
($50,000.00). Said bond shall
bear date of July 1,.1935, shall thereafter,the full period of One nsertton
,bear interest at the rate of two
per cent(2 per cent)per annum
from date until paid and the the last publication thereof
same shall be payable at the of-
fice of the City Treasurer of Salt
Lake City, City and County
Building, in Salt Lake City, being in the issue dated the `Zi-d-_ day of
Utah. Said bond shall be desig-
nated "Salt Lake City tax an-
ticipation bond,series of July 1,
1935.". Said bond shall be due LLLi(•.'U&'G-- - ,A.D.193.5...
and payable on the 1st day of
November,A.D.1935,in lawful
money of the United States andshall bear interest from the tat
day of July,A.D.1935,said in-
terest being payable on the 1st
day of November,' 1935. said sworn.to before me this Enli_..___..__..
bond.shall be signed by the ----------- - - day of
Mayor and attested by the City
Recorder under,the seal of the
city and shall be registered in A.D 193
, it book by , D.'the City Auditor for5._
that purpose, and the City.Au-;
ditor shall endorse on said bond,
the certificate required by law.
Said bond shall.be in substan-
tially the following form,to wit: Notary Public.
UNITED STATES OF
AMERICA •
STATE-OF,UTAH
Na.1 SALT-LAKE CITY
$50,00fi.OA
TAX ANTICIPATION BOND
Issue of July 1,1035,
1 The City.of Salt Lake,in the
' County of Salt Lake, and State
of Utah,for value received,Ac-
knowledges itself indebted and Advertising fee
hereby promises to pay to-the
bearer hereof the sum of fifty
thousand ($50,000.00) dollars on the first day of November,A.D. 8.X_
1935,with interest thereon at the
rate of two per cent per an-`-
num, payable on the first day
of November, A. D.1935, upon
presentation and surrender'of
this bond,both principal and in-
.._terest being payabl ia'ar-^*fiec
terest on this bond as the same
shall fall due,and this bond is
issued in anticipation of such
taxes for the.year 1935.The faith and credit of the
City of Salt Lake are hereby
pledged for the punctual pay-
ment of the principal of and the
interest on this bond.
IN TESTIMONY WHEREOF,I
the City Commissioners of the
City of Salt Lake have caused i
this bond to be signed by its
Mayor, under the seal of said
city,affixed and attested by the,
City Recorder,all as of the let
day of July,A.D.1935.
Mayor. •
Attest:
City Recorder. _.
of the City Treasurer of Salt There shall be endorsed on
Lake City, City 'and- County each of said bonds the following
• Building, in Salt Lake City, City Auditor's certificate:
Utah, in any coin or currency, "I hereby certify that this
which, on the respective dates bond is within the lawful debt
of payment of the principal and limit of Salt Lake City, Utah,
Interest, is legal)tender for the and is issued according to law.
payment of public and private
debts. "City Auditor."
This bond is the only one of SECTION 2.That all the cove-
an issue made,by the City of Hants, statements, represents-
Salt Lake for the purpose of tions,and agreements contained
meeting current expenses of said In said bonds,be and the same
City for the year 1935 until the are hereby adopted as covenants,
payment of taxes for the year statements, representations,
1935,under and by virtue of and agreements and promises of Salt
in full conformity With the-con- Lake City,Utah.
stitution of the State of Utah, SECTION 3. That the Mayor
the provisions of Section 8,Chap- of.Salt Lake City is hereby au-•
ter 8,Title 15,Revised Statutes thorized and directed to sign and
of Utah,'1933,and an ordinance execute said bond and the,City
duly adopted and made a law of Recorder is hereby authorised
said city prior to the issue of this and directed to attest and affix
bond,and it is hereby certified .the seal of Salt Lake City to
and warranted that all the re- said bond,and the City Auditor
quirements of law have been is authorized and directed to
complied with by the proper of- place upon said bond the certifi-
ficers in the issuing of this bond. cate in the manner and form set
It is further recited, certified forth above,and the acts of said
and warranted that the total Mayor,City Recorder and Audi-
amount of the issue which in- for in so doing are and shall be
eludes this bond,does not exceed the act and deed of Salt Lake
any limit of indebtedness or oth- City.
er limitation prescribed by the SECTION 4. That the City
constitution or statutes of the Treasurer is hereby authorized
State of Utah or the ordinances to deliver said bond to the pur-
of said City of Salt Lake. 'chaser thereof,as and when said
The City of Salt Lake has lev- bond may be and is legally issued
led In the year 1935 sufficient and delivered pursuant to author-
' tax to pay the principal and in. ization of the Board of Commis-
sioners at a regular meeting held
August 1st,1935.
SECTION 5. That the Board
of City Commissioners have lev-
ied in the year 1935 a sufficient
tax to pay principal and interest
on said bond as the same shall
fall due and for the payment of
said bond the full faith, credit
and taxing power of Salt.Lake
City are hereby irrevocably
pledged.
SECTION 8. .That an emer-
gency is hereby declared and in
the opinion of the Board of Com-
missioners because of the neces-
sity for funds with which to meet
the current expenses of said City
it is necessary to the peace,
health and safety of the inhabi-
tants of Salt Lake City that this
ordinance take effect•upon its
passage, approval and publica-
tion.
SECTION 7. Now,.therefore,
BE IT ORDAINED that this Or-
dinance shall take effect and be
in force upon.its passage, ap-
proval and publication.
Passed by the Board of Com-
missioners of Salt Lake City,
Utah,and approved this 1stday
of August,A.D.1935.
LOUIS MARCUS,
Mayor.
Attest:
ETHEL MACDONALD,
(Seal) - City Recorder.
Bill No.37.
Published August 2, 1935.
PROOF OF PUBLICATION
FROM
Tip OttIt Eakt Oribune
-
County
Entry No
"TT