37 of 1962 - Providing for the issuance and confirming the sale of $7,000,000 Sanitary Sewer Facility Bonds, $1,0 NOTICE AND ORDINANCE NO. 37 of 1962
Salt Lake City, Utah
May 15, 1962
The Board of Commissioners of Salt Lake City, Salt Lake
County, Utah, met in adjourned regular session at its regular
meeting place in the City Hall in Salt Lake City at 10:30 o'clock
A.M. on May 15, 1962, with the following members present:
J. Bracken, Lee, Mayor
L. C. Romney , Commissioner
Joe L. Christensen, Commissioner
Conrad B. Harrison, Commissioner
Herbert F. Smart , Commissioner
There was absent: None
There were also present Herman J. Hogensen, City Re-
corder, Homer Holmgren, City Attorney, and Louis E. Holley, City
Auditor.
After the meeting had been duly called to order and
the roll called with the above results, the Mayor stated that one
of the purposes of the meeting was to be the reception of sealed
bids for the purchase of $7,000,000 Sanitary Sewer Facility Bonds,
Series 1962, $1,000,000 Public Library Bonds, Series 1962A and
0,500,000 Public Building Bonds, Series 1962A, of Salt Lake City.
The City Recorder announced that 6 sealed bids had been
received. The bids were opened, tabulated and found to be as fol-
lows:
Name of Bidder Interest Rate Premium
1. First Security Bank of Utah 1965 - 3% $45.00
& Associates 1966 - 1975 - 2.60%
1976 - 1978 - 2.75%
Net Interest Cost, 1979 - 1980 - 2.80%
$3,269,462.91
Average Net Rate, •
2.6946%
37
Name of Bidder Interest Rate Premium
2. Bankers Trust Company, New 1965 - 1966 - 4 1/4% $3,841.00
York, New York & Associates 1967 - 1969 - 2 1/4%
1970 - 1972 - 2 1/2%
Net Interest Cost, 1973 - 1974 - 2.60%
$3,275,893.08 1975 - 1980 - 2 3/4%
Average Net Rate,
2.699912%
3. Halsey, Stuart & Co., Inc. 1965 - 5% $1,955.00
& Associates 1966 - 1968 - 2.70%
1969 - 1973 - 2.50%
Net Interest Cost, 1974 - 1975 - 2.60%
$3,331,200.63 1976 - 1980 - 2.75%
Average Net Rate,
2.70279%
4. The First Boston Corp. 1965 - 5% $345.06
& Associates 1966 - 4.25%
1967 - 2.10%
Net Interest Cost, 1968 - 1969 - 2.25%
$3,301,646.24 1970 - 2.40%
Average Net Rate 1971 - 1972 - 2.50%
2.72113% 1973 - 1974 - 2.6o%
1975 - 1976 - 2.70%
1977 - 1980 - 2.80%
5. The First National Bank of 1965 - 3 1/4% $731.00
Chicago, Chicago, Illinois 1966 - 1972 - 2 1/2%
& Associates 1973 - 1977 - 2 3/4%
1978 - 1980 - 2.80%
Net Interest Cost,
$3,294,306.15
Average Net Rate,
2.715087%
6. Phelps, Fenn & Company 1965 - 3% $2,024.00
& Associates 1966 - 1972 - 2 1/2%
1973 - 1977 - 2 3/4%
Net Interest Cost 1978 - 1980 - 2.90%
$3,325,611.83
Average Net Rate
2.7408%
-2-
� - 37
After due deliberation, it was determined that the bid of
First Security Bank of Utah & Associates , of Salt Lake City, Utah ,
was the highest and best
bid submitted for the purchase of said bonds, said bid being in
full as follows:
Name of Bidder Interest Rate Premium
First Security Bank of Utah 1965 - 3% $45.00
& Associates 1966 - 1975 - 2.60%
1976 - 197e - 2.75%
Net Interest Cost, 1979 - 1980 - 2.80%
$3,269,462.91
Average Net Rate,
2.6946%
-3-
37
Thereupon, the following ordinance was introduced in
writing, was read in full and discussed and pursuant to motion made
by Herbert F. Smart _ and seconded by Conrad B. Harrison
was adopted by the following vote:
Aye: Mayor J. Bracken Lee
Commissioner L. C. Romney
Commissioner Joe L. Christensen
Commissioner Conrad B. Harrison
Commissioner Herbert F. Smart
Nay: None.
The ordinance was then signed by the Mayor in open meeting
recorded by the City Recorder and ordered published one time in the
Deseret News-Telegram, a daily newspaper published in said city. The
ordinance is as follows:
ORDINANCE NUMBER 37 of 1962
AN ORDINANCE providing for the issuance
and confirming the sale of 17,000,000
Sanitary Sewer Facility Bonds, Series
1962, $1,000,000 Public Library Bonds,
Series 1962A and $3,500,000 Public Build-
ing Bonds, Series 1962A of Salt Lake
City, Salt Lake County, Utah.
WHEREAS pursuant to ordinance duly adopted on August 9,
1961, an election was held in Salt Lake City on September 12, 1961,
at which there were submitted to such qualified electors of Salt
Lake City as paid a property tax in said city in the year preceding
such election the following propositions:
PROPOSITION NUMBER 1
Shall Salt Lake City incur debt and issue bonds to the
amount of $5,000,000 to run for a period of not more than
twenty (20) years from the date thereof and to bear
interest at a rate or rates not in excess of 6% per annum
for the purpose of paying part of the cost of erecting a
necessary public building to be used for court and public
safety purposes including a city jail, the housing of the
police department, the housing of other public safety
facilities and administrative offices used in that connec-
tion, municipal court-rooms, city offices and other related
facilities, including a heating plant and other necessary
equipment and furnishings for such building and incluxng
the purchase and improvement of a site therefor?
-4-
37
3
PROPOSITION NUMBER 2
Shall Salt Lake City incur debt and issue bonds to
the amount of $2,500,000 to run from a period of not
more than twenty (20) years from the date thereof
and to bear interest at a rate or rates not in ex-
cess of 6% per annum for the purpose of erecting a
municipal building to be used for public library
purposes including the acquisition of a site and all
necessary furnishings and equipment therefor?
PROPOSITION NUMBER 5
Shall Salt Lake City incur debt and issue bonds to
the amount of $7,000,000 to run for a period of
not more than twenty (20) years from the date thereof
and to bear interest at a rate or rates not in ex-
cess of 6% per annum to pay the cost of constructing
a sanitary sewer facility for the purpose of improve-
ment of the disposal and treatment of sanitary
sewage, and all equipment and appurtenances properly
related thereto and including the purchase and im-
provement of a site therefor?
WHEREAS, the results of said election were declared by the
Board of Commissioners of said city, sitting as a Board of Can-
vassers, by resolution duly passed on September 18, 1961, from which
it appears that the aforementioned proposition on the issuance of
$7,000,000 Sanitary Sewer Facility Bonds carried by a vote of 13,900
in favor of and 1,421 against the issuance of said bonds, that the
foregoing proposition on the issuance of $2,500,000 Public Library
Bonds carried by a vote of 12,959 votes in favor of and 2,393
against the issuance of said bonds and that the foregoing proposi-
tion on the issuance of $5,000,000 Public Building Bonds carried by
a vote of 12,891 in favor of and 2,439 against the issuance of said
bonds; and
WHEREAS, of the bonds so authorized only $1,500,000 Public
Library Bonds and $1,500,000 Public Building Bonds have been issued,
and it is now desired to sell additional bonds as hereinafter pro-
vided; and
WHEREAS, said bonds have been this day offered for sale
-5-
upon sealed bids and, when said bids were opened, it was found that
the bid of First Security Bank of Utah & Associates of
Salt Lake City, Utah , was the highest and best bid submitted
for the purchase of said bonds; and
WHEREAS, said bonds have been awarded to said purchaser
at the price of par and accrued interest to the date of delivery
plus a premium of $ 45.00
NOW, THEREFORE, Be It and It Is Hereby Ordained by the
Board of Commissioners of Salt Lake City, Salt Lake County, Utah,
as follows:
Section 1. That there shall be issued bonds of Salt
Lake City in the aggregate amount of$11,500,000. The bonds to be
so issued shall be separated into issues as follows:
$7,000,000 Sanitary Sewer Facility Bonds,
Series 1962
1,000,000 Public Library Bonds, Series
1962A
3,500,000 Public Building Bonds, Series
1962A
Each of said issues is hereby authorized and shall be is-
sued for the purpose set out in the pertinent proposition appearing
in the preamble hereto. The bonds of each issue shall be dated
April 1, 1962, of the denomination of One Thousand Dollars ($1,000)
each, except that if the purchaser shall exercise his right to re-
quest bonds to be issued in denominations of >5,000 and shall notify
the City Treasurer, the Treasurer shall cause such bonds as may be
so specified to be issued in denominations of $5,000. The bonds
shall be numbered from one (1) consecutively upward within each
issue, shall bear interest from date until paid at the rates here-
inafter set out, which interest shall be payable January 1, 1963
and semi-annually thereafter on the first days of January and July
of each year. Such bonds shall mature serially in numerical order
-6-
37
on January 1 of each of the years, and shall bear Interest as fol-
lows:
SANITARY SEWER FACILITY BONDS
Amount Interest Rate Year
$535,000 1965
220,000 2.60% 1966
250,000 2.60% 1967
280,000 2.60% 1968
310,000 2.6o% 1969
350,000 2.60% 1970
39o,000 2.6o% 1971
430,000 2.6o% 1972
470,000 2.6o% 1973
510,000 2.6o% 1974
550,000 2.6o% 1975
590,000 2.75% 1976
630,000 2.75% 1977
670,000 2.75% 1978
710,000 2.80% 1979
105,000 2.80% 1980
PUBLIC LIBRARY BONDS
Amount Interest Rate Year
$100,000
60,000 2.6o% 1966
60,000 2.6o% 1967
60,000 2.60% 1968
60,000 2.6o% 1969
60,000 2.6o% 197o
60,000 2.6o% 1971
6o,000 2.60% 1972
60,000 2.6o% 1973
60,000 2.6o% 1974
6o,000 2.6o% 1975
60,000 2.75% 1976
60,000 2.75% 1977
60,000 2.75% 1978
60,000 2.80% 1979
60,000 2.80% 198o
-7-
3'7
PUBLIC BUILDING BONDS
Amount Interest Rate Year
$200,000 3% 1965
220,000 2.60% 1966
220,000 2.60% 1967
220,000 2.60% 1968
29
20,000 22.60% 1970
220,000 2.60% 1971
220,000 2.60% 1972
220,000 2.60% 1973
220,000 2.60% 1974
220,000 2.60% 1975
220,000 2.75% 1976
220,000 2.75% 1977
220,000 2.75% 1978
220,000 2.80% 1979
220,000 2.80% 1980
Both interest and principal shall be payable in lawful money of the
Chase Manhattan Bank, New York City, New York.
United States of America at Barris Trust and Savings Rant, mmnaQ , TllRn �
ticleo6b&oYmtiti First Security Bank of Utah, N_A Salt Lake City, Uthh �F
All of said bonds shall be registrable as to principal in
the manner and with the effect recited in the bond form set out in
Section 2 hereof.
Section 2. That said bonds and the interest coupons there-
to attached shall be in substantially the following form:
UNITED STATES OF AMERICA
STATE OF UTAH
SALT LAKE COUNTY
SALT LAKE CITY
BOND, SERIES
Number $
KNOW ALL MEN BY THESE PRESENTS that Salt Lake City, Salt
Lake County, Utah, for value received, hereby acknowledges itself to
be indebted and promises to pay to the bearer, or if this bond is
registered as to principal then to the registered holder hereof, the
sum of
THOUSAND DOLLARS ($
on the first day of January, 19 , together with interest thereon
from the date hereof until paid at the rate of
-8-
37
per cent ( %) per annum, payable
January 1, 1963, and semi-annually thereafter on the first days of
January and July in each year, with interest falling due on and
prior to maturity payable only upon presentation and surrender of
the attached interest coupons as they severally become due. Both
principal of and interest on this bond are payable in lawful money
of the United States of America at
in the City of
This bond is one of an issue of
Bonds numbered 1 to , inclusive, of like date,
tenor and effect except as to maturity (denomination and interest
rate) issued for the purpose of
under and by virtue of and
in full conformity with the Constitution and Laws of the State of
Utah, and an ordinance duly adopted by the Board of Commissioners of
said city on May 15, 1962, after having been duly authorized
at an election legally held in said city on September 12, 1961.
The Board of Commissioners of Salt Lake City agrees that it
will annually levy a tax sufficient to pay the interest on this bond
as it falls due and also to constitute a sinking fund sufficient
to pay the principal when due.
It is hereby certified, recited and declared that all
conditions, acts and things essential to the validity of this bond
and the issue of which it forms a part do exist, have happened, and
have been done, and that every requirement of law affecting the issue
thereof has been duly complied with, and that this bond is within
every debt and other limit prescribed by the Constitution and Laws
of the State of Utah, and that the full faith and credit of Salt Lake
City are hereby irrevocably pledged to the punctual payment of the
principal of and interest on this bond according to its terms.
-9-
37
This bondmay be registered as to principal on the books
of the City of�of said city in the manner and with the effect
specified on the back hereof.
IN WITNESS WHEREOF, Salt Lake City has caused this bond to
be signed by its Mayor and countersigned by its City Recorder, with
the seal of the city affixed, and the coupons hereto attached to be
signed with the facsimile signatures of said officers, who by the
execution hereof do adopt as and for their own proper signatures
their facsimile signatures appearing on each of said coupons, all as
of the first day of April, 1962.
Mayor
Countersigned:
City Recorder
(SEAL)
(Form of Coupon)
Number $
On the first day of - 19 , Salt
Lake City, Salt Lake County, Utah, will pay to the bearer hereof at
, in the City of
, the amount shown hereon in
lawful money of the United States of America, being the interest then
due on its Bond, Series
dated April 1, 1962.
Fascimile Signature
Mayor
Bond Number
Countersigned:
Facsimile Signature
City Recorder
-10-
37
(Form of Auditor's Certificate)
I, do hereby certify that this bond is within the lawful
debt limit of Salt Lake City, Utah, and is issued according to law.
City Auditor, Salt Lake City, Utah
The blanks in the above forms shall be appropriately
filled in each of said bonds and the purposes of each issue shall be
stated in the bond in the same language in which it appears in the
proposition authorizing such issue recited in the preamble.
(Form of Registration for back of bond)
The within bond may be registered as to principal in the
name of the holder on books to be kept for such purpose by the City
Treasurer
aftuolctIr of Salt Lake City, as Registrar. Each such registration
shall be noted in the below blank by the Registrar, after which no
transfer of the bond shall be valid unless made on the Registrar's
books by the registered holder and similarly noted in the registration
blank below. If this bond is registered as to principal it may be
discharged from registration by being transferred to bearer, after
which it shall be transferab} by delivery but may be again registered
as to principal as before. The registration of the bond as to
principal shall not restrain the negotiability of the coupons hereto
attached by delivery merely.
(No writing hereon except by Registrar)
Name of Registered Date of Signature
Holder Registration of Registrar
•
•
•
•
•
•
•
Section 3. That the proceeds of the sale of the bonds shall
be properly allocated to the various issues and the proceeds of the
sale of each issue shall be placed in a fund separate and apart from
the general funds of said city, and shall be used solely for the
purpose for which the bonds of each issue are herein authorized.
-11-
37
Section 4. That each of said bonds shall be signed by the
Mayor and countersigned by the City Recorder, with the seal of said
city affixed, and the said coupons shall bear the facsimile signatures
of said officers. The Mayor is hereby empowered and directed to sign,
and the City Recorder to countersign and affix the seal of the city
to each of said bonds and the acts of said Mayor and City Recorder
in so doing are and shall be the act and deed of Salt Lake City,
Utah. All the covenants, statements, representations and agreements
contained in said bonds and coupons, and all the recitals and
representations of this ordinance are hereby considered and under-
stood, and it is hereby ordered and declared that said covenants
and promises therein are the covenants and promises of Salt Lake
City, and that the representations and statements therein are
the representations of said city.
Section 5. That to pay the interest falling due on said
bonds as the same becomes due, and also to provide a sinking fund
for the payment of the principal of said bonds at maturity, there
shall be and is hereby levied on all taxable property in said city,
in addition to all other taxes, a direct annual tax sufficient to
pay the interest on said bonds and to pay and retire the same as
hereinbefore provided. Said taxes when collected shall be applied
solely for the purpose of the payment of said interest on and
principal of said bonds, respectively, and for no other purpose
whatsoever until the indebtedness so contracted under this ordinance,
principal and interest, shall have been fully paid, satisfied and
discharged, but nothing herein contained shall be so construed as
to prevent said city from applying any other funds that may be in
the city treasury and available for that purpose to the payment of
said interest and principal as the sarse respectively mature, and
the levy or levies herein provided for may thereupon to that extent
be diminished, and the sums herein provided for to meet the interest
-12-
3?
on said bonds and to discharge the principal thereof when due, are
hereby appropriated for that purpose. Principal and interest
falling due at any time when there are on hand from the proceeds
of the above tax levy insufficient funds, shall be advanced from
other funds of the city available for such purpose and such other
funds shall be reimbursed when the tax levy proceeds become available.
Section 6. That the sale of said bonds to
First Security Bank of Utah & Associatme -ofSalt Lake City, Utah
, at the price of par and accrued interest
to the date of delivery plus a premium of $ 45.00
in accordance with the terms of the bid submitted by said purchaser
on this date, is hereby in all respects ratified and confirmed.
Said bonds shall be delivered to the purchaser as soon as they
may be legally issued, upon receipt by the City Treasurer of the
agreed purchase price therefor.
Section 7. That all ordinances and resolution or parts
thereof in conflict herewith be and the same are hereby repealed,
and after said bonds are issued, this ordinance shall be and remain
irrepealable until said bonds and the interest thereon shall have
been fully paid, satisfied and discharged as herein provided.
Section 8. That immediately after its adoption this
ordinance shall be signed by the Mayor and City Recorder, shall be
recorded in a book kept for that purpose and shall be published one
time in the Deseret News-Telegram, a newspaper published in said city.
Section 9. That it being necessary for the immediate
preservation of the peace, health and safety of Salt Lake City and
the inhabitants thereof that the proceeds of the bonds herein
authorized be available immediately for the purpose herein set forth,
an emergency is hereby declared, and this ordinance shall be in full
force and effect immediately upon its adoption and publication.
-13-
:37
PASSED AND APPROVED by the Board of Commissioners of Salt
Lake City, Salt Lake County, Utah, this 45th, ,f May, 1962
Mayor
Attest:
agu
fL ,ecorder
(Other business not pertinent to the above
appears in the minutes of the meeting.)
Upon motion duly made and carried, the meeting was
adjourned. ?
Aayor
Attest:
corder
(SEAL)
BILL NO. 37 of 1962
Published May 23, 1962
STATE OF UTAH
COUNTY OF SALT LAKE
I, Herman J. Hogensen, hereby certify that I am the duly
qualified and acting City Recorder of Salt Lake City, Salt Lake
County, Utah.
I further certify according to the records of said city in
my official possession that the above and foregoing constitutes a
true and correct copy of excerpts from the minutes of the meeting of
the Board of Commissioners of Salt Lake City, Utah, held on
May 15, 1962, including an ordinance adopted at said meeting,
as said minutes and ordinance are officially of record in my
possession.
I further certify that the aforesaid ordinance has been
duly signed by the Mayor and City Recorder and was deposited in my
office and recorded on May 15 _ 1962, together with an
affidavit evidencing the publication thereof in the Deseret News-
-14-
3'7
Telegram on May 23 , 1962, and that my endorsement
to such effect appears on such ordinance as it is of record.
IN WITNESS WHEREOF, I have hereunto subscribed my official
signature and impressed hereon the corporate seal of said city this
�! day of Tr\ , 1962.
rder
(SEAL)
pry;
JAM:M
5/2/62 -15-
3'7
' ADM-J9A
Affidavit of Publication
STATE OF UTAH,
ss.
County of Salt Lake
D. M. Ockey
Being first duly sworn, deposes and says that he is legal advertising
clerk of the DESERET NEWS AND SALT LAKE TELE-
GRAM, a daily (except Sunday) newspaper printed in the Eng-
lish language with general circulation in Utah, and published in
Salt Lake City, Salt Lake County, in the State of Utah.
That the legal notice of which a copy is attached hereto
Salt Lake City Bill No. 37 of 1962. An Ordinance
Providing for the issuance and confirming the
sale of Sewer Facility bonds Series 1962, Public
Library Bonds, Series 1962A and Publio Building
Bonds Series 1962A.
was published in said newspaper on May 23, 1962.
/Legal Adv0rsing—Gferk
Subscribed and sworn to before me this 24th day of
May A.D. 19 62
Notary Public
My Comrr soYn2Sxpirf�65
37
Legal Notices_ 11.=cal Notices Le I Notices Legal Notices
_____ yp,yyd�tJ{(D¢q�@f1�pp lfY I I g6 h u 111$ 6 tie.
Y IN NOTICE AND ORDINANCE NO,37 OF 1962 * I teen 4 VviFASkyin-of,otner ultqau
0M
Sall Lake CI'Y,Utah, 15,1962 p. - *Sky
01
The Board f Co f Sall Lake City,Sall Lake Count pkiin Utah net ado auto tl regular s at s regular meeting place In m hOhlilly Heating
Do...,al id',necessary equip.
the
the City Hall in Salt Lake City al 1050 o'cloc .M,on May 5,1962, pur<nase anu II I r Sere '!
With the following members present: NKi,o Web(
r u i it of a,i EK a
J.Bracken Lee,MayOr Ommii' Shall Salt Lake r cro enu isSU bond6 to the
L.C.Rem.,iolo Commissioner f > O,v0v to run beat
a period
u r0s nlore
Jo L.Christensen,Commissioner lwedi Ctrot years from f e d%le n l and to
C ,tl B.Han loon,Commissioner i(r i 1 rate r n m er null
Herbert F.Smart,CommisslOner 1 green of Inf.o.d ue
There was absent:None. for t or ppuooc i n9 s n.., 0 buelpldtg
Therm e:also present Herman J.H l ensenl City Recorder, Homer of.1 i heCov Yryu i Noslsnl�i In..,
Oequipment inrilun
holme9t CIIYn Attorney,a tl Louts E MOIIeVV,City A-..2°.. for s le anu ail n ea n gs a 0ere-
Afler the celldtg I tl 1Dcen tluly Iled fo , a10 the roll called PROPOSITION NUMBER 5
with the above results,the Mayor stated that el the pure Oses Cl the Snaiu SaI:1 La Kd uuiyop 1C nr foe a issue bonds to the
t'n l be the rOce l Ito tl i°4' for Ib¢ base O
rmIlI Urc d f !hare
Library S es war -a illy 9 d S s Building
Sl DD 000 pull '.0 i roil rr m t a s9 pi eeoo to Dear
1962A,oO Bonds,Series y.The
and 5Recor e Public ce l tea Bards Series r ales u
h d b t Salt Lake City.Toe ere Recorder a announced and
of 6 sealed bias roil r
had been received.The bids were opened, tabulated a d found 10 be as nuraule Or se vrader nt of;an 4uip sewer andralc
to pay r
tot Sie 1,..c.oie f s n err s¢ e, an are,
,er1e0vno meal a. av
Nome Of Biddgr Interest Rate Premium purcil ae a p verly 1m at o e, ro nu a1n the
1,First Sec UrltY ank of Vtnh 1965-T+'= 345.00 oo ov,a he 0 s of s 0 a ione reuetherefore u y
8 Associates 1966--19)5-2,60"° WHciouiv the r is,or sa,1d¢elenliun were uec a11ed by the Board
Ncl InlCrest Cast, 1976-1978-2.15°r° f(...noes tubers of s lily,s ung as a Buar or
Average
1919-19g 2.80% luh.ro Iy panned u Uiderrlrer r >01,Troiawhich r
Average Net Rafe, ail usSnun n the lbuonce ar,vuu,ball a"Alas
2 69d6% ,1 u pr 1 OV os a in pkvur u mat
t.hart k,N Trust Carnnanv,New 65-1969-2,d°e 53,A41.00 Di Iv, e ul nos can coon ' thatI.foregoing a1V me ins
York.New York&Associates 1910-1969-217.% 01 Vo,l<L10rery D carried or au the Oof 11,9a9 vo use in
Nel Inleresl Cost. 19I0-1912-91/a°i° favor dna 2,Ovd andrnsr the issue.,e r said u us and 1 at Inc wre-
9C075,A930e 1973-1980-2.FL' ogop o lee f SC,OUI,wu oruullc dui�nm9 Bonus
Average Nef Rate, 19I5-198P-2pn96 carried bya vote or 1a,011 in"raver Of
and�,eEy agelndt me issuance u
3.Hoisey,1sso 5'uart S.Co.,Inc. 1965--S9a E1,955.00 said 0010a„en"Hie f the Uontls o aul horized on lv SLOSeli000 Public Llbrars
3 155og.Ms 969-1973-2.1n°e Banos a o al,WeCOU Puonc 6 Old my n ds en o,a u d 1
N^•19lerest Cost, 197d-1975-2.50', w tleslletl II lrlon o nos as eon rpor aoo
fn.131,.0063 191E-1905-2.75% bbi WHa ktAS,said oonu5 eree connect
,o II Owed TOere loot
p eato'a
Av Fir Nol Ratc. 1965-1980-2.15% sect enwrier, 1 pros re epOened, teams Thatrole bide otst t
270279w° sect,. Bnk or titan 011 O lit Salt Lake LOUOU 000 w liha
d.The First Boston Corp. 1965-Se'° E3d5.00 th gnesr ,d best bltl sub milted nor sthe purchase of said bonds and
Associates �966-d.25% WHEHatAS,said bonds nave pee„ idea IOOe said ormaser at Iha
NC!Interest Cost, 960-2 1 r price p a.accrueuinterest o a ate o/ livery lus a oremlurn
Alle 1960--2,10%.25°,b of r>aSVUU.
A72113%IJet Rate, 1971-1972 n ,,,THEREFORE,Be It nil It Is Hereby Ordained by the Board
2.72113as 91t-1912--S.5n°/, of Commissioners !Sa'.I Lake COINS Satin Lake County,Ulalt,as follows:
1913-1914-2.M°o 'Tlat there snails bonds yeSalt Lake City the
1977Igen-MO% eat',amount Or oll,m,00.e lee issued
to e issued shall De
1965-1980-2.A0% aggregate
S.'he First National Bank Of 196,-197% $731.00 separag aOOJ,4001Jdaellarr 5eW¢rrhe<iI11Y Bonds,Series 1962.
Chicago,Chicago,Illinois 1966-1919-2r.i%
R A35oclates 1973-1977-2tn5e I,000,000 YVU1ie LibralY Bonds,Series 1962A.
N¢f Intcresl Cost, 19JA-1911E-2,60% 3,IUJ,OW PU91VC Burldne9 Bonds,Series196-[A.
31:29d,30615 Eacn o said i^s s 1 tl ISO authrize a.shall be Issued for the
A,e,a9^.Not Rafe, purpose I col the 0 proPosrnon appearing 1 1 e preamble
1 helps,,. en¢omotiinas on oaf Unef Thousand Issue
(ye00u tee each,
I.en!I that of
the
6.PhAsso Fenn 8 Company 1en/n_1°:a 32,02d.00 purchaser shall Ise'his right to request bonds to be issued in de-
Not
Inieafc 1 ° + °; asur ,r t re svr
S3,325,611
I }Cost. 97 1 71 2 ' E such
;olds
d moo L 1 C r o, t a
33256182 1910 19P0-290 shall h d be to Oe issued n senomnay
f$S OOU TM1 bonds II b numbered tram n•�n ens ut ve Y
2.nr Not Rate, upward withinh shall D interest from one
fill pad at the
After
A1rl d tl l l it die d that the hid F 5 bare rates hereinafter t h shall be aa January 1,1vb0J
k Vu h A P ,. 1 f If Ior fit 100. ih a rOII d a tl sly thereafter h first days of January antl July f
b..,f old s bm ifed far ibC putt.s-Of 5aQ bonds,sad bid beIn 1n full h Year.Such bonds shall on ri y in numerical order on January
1 Of each f the Years, d shall bear t1 f fellows.
NsarnC ofstfidder Inter,'Rafe Premium SANITARY SEWER FACIi LITY BONG)
Fir^!Seen,ily Bank of Utah 9 5-.i°., fd5.00 Ill
Interest Rate Year
8 Associates torn IOC'-2�n o 3Y1966Nat Ininrest Cost, 1We-197E-2.75% 2.60% 1Y66f3,269,d6291 1979-19A0-2.80% 2.64% 1961A,,,•r, Net Rate, .6u'•v196A2.6,16% 2.60° 1969Thereupon,the following ordinance wo troduced in w Ifinr,w350,00 OP",:
9'r0
Scad in full antl tl1sc11ssad old pursuant to rnotion ado by Herbert Fs 390,000 ?.00, 1971
mat and secondetl by Conrad B.Harrison,was"dogged by the follow- 0,000
Inn Vote: 10,000 o'oo'. 1973
Anal Mayor J.Bracken Lee 510,000 0.00°/° 191d
Commissioner L.C.Romney 550,000 2.6d56 1975
missioner Joe L.Christensen 590,000 2.73% 1976
Cornmissioncr Conrad B.Harrison 600,000 2.15% t911
Commissioner Herbed F.Smart 610,000 1918
Nay:None, 710,000 2.80% 1919
The ordinance was Ihen signed by the Mayor In op meeting 105,030 2.0B 1980
ra, b he City Recorder and ordered published one time the PUBLIC LIBRARY BONDS
Deseret News.TIn follows:
a daily ewspa r published Inn said city. The Amount Interest Raid Year
ordinance is as follows: $103,000 3°'° 1965
flli'F rANCE NUMBER 31 OF 1962 6C,000 2.60°'° 1966
AN ORDINANCE ld for the- and confirming 60,080 260s 1967
theI. f_1f000 r S v S F Ili Bo-1tls SEAS 60,000 260� 1960
6 0 rO P r_ 1!b a0 Bonds, S. s 1969A and dC,000 2609b 1969
$150000 Pal,ic R Ild J Bonds,S .962A of Sall Lake dC,000 260°i° 19%0
tb.Sall e m rr o,Utah, ' 60,000 2.60°io into
WHEREAS p I ant to ordinance duly n dnpled onAugust 9, 1961, 60,,,, 0,00' 1912
1
thection was he'd in Sallf La,City on S,l0maer 2, 1961,at which d0,rrr 2.60'0 1913
en we submitted to such"mangled electors o•San ake City s paid 60,000 609'.. is
said Oily In the year nrec¢ding such elecllon the 60,CC0 2.60%
toflarvving,aro�osrrions: dO,000 2.70°is
nk r PROPOSITION NUMBER 1 63,CC0 2.75°a
Small Salt, Lake Cliv incur debt and issue bonds to the 60,000 2.75%E5.',°e5 0010rfor C ipdsot 1 ethan 60,000 2.80'sie eievr(2o) n s tramedate Iliereofnnl!oo m- V 60,000 2.BOSo
rest at a rate o r ten aot ss of 6%g r gum I PUBLIC BUILDING BONDS
• for she 0 000li I ying p !coedit a coct rt e a Amupm Interest Rafe Year
necessary b bloc building to be used far court andcrpublic 5200,OW 3°0 1965
220,000 2.60% 1966
220,000 2.60'io 1961
220,000 260% 196d
220,000 2.60% 969
220.000 2-60°�e 1910
220,000 2.60% 1971
220.000 260"i° 1973
220,000 2.60% 1973
220,000 260% 197E
220,OD0 2.60�° 975 1
220,000 2.154'e 1976
2200C,3 2.155'e all 1
220000 2JS°'o 1978
220,OJ0 2.80'a 1919
22rest 2.A0% 190
Both interest and principal seep be payable' lawful money of the
United Sta•es f America 1 Chase Manhattan Banrk,New York City,New
YOri, Har:is of
0 Savings Bank,Chicago, 'Minos, First Security
;Pa f Vsaid N. ,Salt Lake eehy,Ulae,
All f said�DatCs shall De registrable as to principal i the manner
antl 11h the a iect re ",g r the bond form s t out Ire Sea V 2 rcl,V.
5ectio•I 2.That sob DonOs tl the in Blest coupes thereto Clothed
snail be In subslantir the following form:
UNITED STATES OF AMERICA
STATE OF VTAH
SALT LAKE COUNTY
SALT LAKEB�N�Y 9FRl Ec
37
bar
Lake NCDou Iva U hoNfo YVTIue THESE
PRESENTS
that
cknorwledk99es City.S
be intleblsd ntl v Ides to D fo the bearer, r If Ihis C tl ree-
isferetl a f0 p Inclpal then to ache Istered Holtlef hereof,the surf, f
on ..THOUSAND DOLLARS with
1
the first day of January, 19.- together Ith interest thereon from
iM1e date nercof Ultl did of file fe Oi -- -_.-.per elf
m,paanu January Jan 1,n ntl a ou,t Inte sr falling toe
ier
insf etlays fmnr and ably in each year,with Interest falling due o
and for to maturity c payable they
uponpresentation and surrender of
Rye altacner Interest s they severally awful become due.Barn eprincipal
interest n Ihis"hone are PdVable In lawful Y of the Cily
StafeL of America et __---...---._._, in the oily
of This bond Is of an Issue of Bonds numbered
1 to ,inclusive Ol like date,tenor na effect except
maturity--(denomination and Interest rate) Issued for the purpose of
--__with
the
o --__- and tler e'n' V`I f ntl-in
cull e formity Ith thr Constitution a Laws of the State t Utah,and
conformity
dulya donfed by ine. Boartl of Commissioners of salld c
n MIn 5,1city filer having been duly aulho�IZM at a election legality (SEAL)
held In saki Ilo September 12,1961. (Farm of Couponl
Thl Board of Commissioners tot of Salt Lake City ,Sagrees that if will _annually lso tcoonsufficient to pay the interest n this bond as it falls Number e Ine 1 I 0 Y 1 e _. a_ re Salt L k City,Salt
and also t0 slute a sinking fund sufficient to pay the Principal L k C____. Ut h ill pay tothebearerhereof at...
when dVe recited d declared that all conditions,acts ntl -""--"- _ -th to shown hi In lawful money f
It Is hereby certified,hvidity of this bond and the Issue f which It I the United Stales of America, being the Interest then due Pon Its
forms assert to the and have been done, and that
forms a part do exist, have Happened,, corn- - --------------- bontl.Series ,elated
sle Y requirement f lawaffectingIswith issue debt/has been duly April 1,1962.
ice Ilh, ntl that this bon Is within everydeer and other limit - Facsimile Signature
c ibeA by theConstitutionred d Laws are ere of rre o and that pledgee pond Number Mayor
toll feilh a tl realm of Salt lake City e hereby irrevocably s bond
COurtfersl9ned
to the punctual n meat f toe principal are
a. interest on this band i Facsrnile Signature
Taloe to Ih terms Clly RccOra Fro
his band id r gl In to as to nr rd Wl n ine books eu Ine 1 of AVtlitors'CeriWficafe)
onTreasurer re aid city In sit manner and ilh the effect pe to be I do Hereby<e Iffy th 1 Ihis bond la 'tHin the IaW/UI deb} II II
0 the hack SSW 01 Sall Lake City,Ufah,and Is issued a coming to law.
IN WITNESS WHEaR ECIF,Salt Lake City has loused this bond Ie be
signed by il<Maa or a au he' once by its C'Ir Recorder,e sI the
I f the m signatures
and the ohs hereto tithe execution fo be .fined l b appropr Sall Lake dC In a ch
do o the lac amile 5 eir o of roper signat woo a 1fa fig hereof The blanks in the Have forms shall is appropriately lately staled
in h and
with
cone a and for fhsii o roe signatures th thew/day of signatures alvres I said bonds and the, Doses of pear issue shall be siti n in the each
a ntl rl 9 on each of said coupons, as of the first ear of APfII,1962. s the i `cited in In which f appears in the proposition authorizing
such issue recited For the m of preamble.Registration sitr aion for back of bond)
Mayor The within bond y be e isterd as to principal In the nameof
Countersigned: the holder n books to a be kept for such purpoe by the Clty Treasrer
------ City Recorder of Salt Lake
by the(Registrar,alter which no l!tansffotll of then bond
that be valid u made or.the Registrar's books by the registered
holder and similarly noted in the registration blank below. ii this bond
Is
oterretlf to bearer, it
which dischargedishell e transferable de
tsltoi ionvo Ip Ibut pony besa lain registered asll to nonlethal
the
There
f the c u rrs hereto eatfachod nbv ealivery m rt ely. negotiability
(No writing hereon except bYOReglsirar)
Name of Registered Dale of Signature of
Holder Registration Registrar
I I I I
1 I I
Is
t 3i Thal the pinuuedd al the sere 01 inebontls shall be proverb
shall
ll etl the ar o s set and ten p pa tls t t th sale of a h Issue
said it placedshalla fund
e nuad separate
ly for the rt from
for which ltheunbards
al each Issue are herein uulhsrioed. r s
Section a.Thai each of said bonds shall he signed by the Mayor and
ed,
countersigned
ndn then/card by the hell beenrnne laclth sinnle sseal
luressaid
at said oftity cero
The Mayor is O nerebo a red antl directed to s 'each'
sail
Recorder to c acts of
d Mayor
the seal of the cltyn to a of said
bonds and the aacts of said Mayor and City Recorder in so doing are and
shall he the act and deed of Sall Lake City,Oteh. All the covenants,
statements,represenfasrens and a erte rental red i said hones ana
and all the recitals antl me es hereby
Of Ihis Ordinance
herebosconsidered and understood,and nits is hereby oraerad any declared
OS SaltiLake Cilyttand Sf00 thhveereprle enfaliioohst antl statemenisntherein lore
the$ectlonnSal�Tfef tbaFav ItY,e interest falling due on sold bonds as the
of ine be lnp,pat Vt'raid bundstat rovtdeifv,theregshall bear dell hereby
levied vn all taxable v nerly in said city, addition fa lln other ff�'taxes,
pays and retire theasa a ash herot inbetnretprovided.Saida faxes whentcollected d
or trldeensiled
nnioaltofels id,bonds,respectivlely, andy payment of other Intense
wiratrmocr until the aindebtedness s enlractee undenolhls ordinance,
print ipei and ireinc!,shall have b•eno fully pars,satisfied and discharged,
but o nothing herein contained shall be s construed as to n vent the city
from avplvinr any other tuntls that ma be in the clivr¢heasutf and
velleblc for that purpose to the p cat oa said interest antl n pal a
the s n 'tha mature,and the levy or levies herein p ovitlntl ant
tv thereupon to that extent He diminirhetl,and the sums heroin n ovided
ot 1 r the interest n seta bones antl to discharge thr n pal
thereat when due,a e hereby aevrovrinlcd for that a Princiroartand
Offfnrsatwveiafax fevvf insuffir fie ant fendsthshalll be advtn needriroml other fund¢
Of the city available for Such p and such other tontls shall be reim.
borsad when the t x levy proceeds become available.
Section 6.That the_ge of.said bonds to First Security Bank of Utah
1k AssocI fe.a fdeteltoLake.veriv,n Utah,at the proles S,par.and Paccand
withethe terms el Ine bid zubmitl[a by sate pm0rch0,ee On 1hts date,id
hereby in all r eels rafilied and corllrmed. Said bonds shall ntl de.
livered to the ptincna.ser a 5 1noY may he legally Induce. U n
receSect on ft. Thal Taila ardinancesneandr resnlvoilonse5P p parts therfeofP in
horgs`nr efisstiee.bihisnora aneemaharle bee and rnmaineairreeealable enii
said Honed and the interest thereon shall have been fully paid,satisfied
and dlscnaraed es h¢re'r v ovided.
action 9_ Thar Immeaiateir after Its adeprion this ordinance thou
kept
ford hr the Mayor are City Recorder.shall be recorded it a hook
kcpt�for Ihai Purpose and shag tr=published o r lime In then Deseret
eleion.Trlrgr'am,a Pchiirhrd sold city.
Section 9, That sit being n y for the immediate p vctioe
f the ^a n,hcolth a d s fete rocs fiat Lake City a d the innb pants
hrrecoi Inaf the rpceeda en he bond, herein a thnrir^d be av habit
m diately Inn tlrr e e hnre,n set fnrlh, a Y s hereby
declared.and IM1is ordinenrn shall be In run torcenare effect`Immediateb
adonnan a mim.
pk it, PNC AP CRntc, br the 15tra of LoMmi, roars o} Salt
Lake City.Salt Lake County.Utah,Ills 151h day fit May,1962.
A lest J.BRACKEN LEE,Mayor.
HERMAN J. HOGENSEN,Clip Repondan.
(Other business nor
pertinent to t e s he above Sm e In the minutes of
ctlPlovrnetln9.I Upon mtion duly made on BRACKEN 1LE E,r Mayor.svas
Attest,
(SeaP'.till No.37 of 1962. Publ aped Mar'2)D1e02, N,CITY Record(A 12)
37