38 of 1904 - Ordinance 38 of 1904 – Providing for the issue of Refunding Bonds. I
An Ordinance Providing for the Issue of Refunding Bonds
Be it ordained by the City Council of Salt Lake City
Section 1 ?or the purpose of funding a like principal amount
of valid outstanding bonds of the city there be issued by virtue and
in pursuance of the Revised Statutes s. 206 as amended by the Laws
of 1903 c. 138 bonds of the city to an aggregate principal amount of
$548,000 in denominations of $1,000 each bearing interest at the
rate of 4-1/2 per oentum per annum payable semi-annually the said
bonds to be dated let January 1904 and payable on the 1st of January )
1924 both principal and interest being payable either at Walker
Brothers Bank in Salt Lake City or at the Importers & Traders Nation ',
al Bank in the city of New York N. Y. at the option of the holder
The said bonds shall be sealed with the corporate seal of the city
and be signed by the Mayor and City Treasurer and countersigned by
the City Recorder and the coupons thereto attached may be signed by
the facsimile signature of the City Treasurer
Section 2 The said bonds and coupons shall be in substantially
the following form to wit:
UNITED STATES OF AaMERICA
State of Utah
Salt Lake City Refunding Bond
$1,000 No.
Per 'Value Received the city of Salt Lake City in the state of
Utah hereby promises to pay the bearer One Thousand dollars in law-
ful money of the United States of America on the let day of January
1924 with interest thereon at the rate of 4-1/2 per cent. per annum
payable semi-annually upon presentation and surrender of the annexed
ooupons as they severally become due both principal and interest
being payable either at Walker Brothers Bank in the city of Salt
Take City or at the Importers & Traders National Bank in the city of
New York N. Y. at the option of the holder
This bond is issued by virtue and in pursuance of the Revised
Statutes of Utah s. 206 as amended by the Laws of 1903 c. 138 and of
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an ordinance of the City Council duly passed approved and published
and is issued for the purpose of funding a like principal amount of
valid outstanding bonds of the city
It is hereby certified that every requirement of law relating
to the issue hereof has been duly complied with that this bond and
the debt hereby refunded are within every debt and other limit pre-
1 scribed by the Constitution of the state of Utah the Laws of the
state and territory of Utah and Acts of Congress and that the in-
debtedness of the said city is not increased by the issue hereof
In Witness Whereof the said city of Salt Lake City has caused
its corporate seal to be hereto affixed and this bond to be signed
by its Mayor and City Treasurer and countersigned by its City Re-
corder this let day of January 1904
Mayor of Salt Lake City
Treasurer of Salt Lake City
Countersigned
Recorder of Salt Lake City
(Coupon)
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$22.50
On the 1st of July (January) 19 the city of Salt Lake City
Utah will pay the bearer either at Walker Brothers Bank in Salt Lake
City or at the Importers do Traders National Bank in the city of New
York N. Y. at the op*ion of the holder twenty-two and 50/100 dollars
in lawful money of the United States for six months' interest on its
Refunding Bond No.
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City Treasurer
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Section 3 Provision is hereby made for the payment of the
interest on the said bonds as the same shall become due and for a
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sinking fund for the payment of the principal thereof at maturity
and for that purpose there shall be and is hereby levied an annual
tax sufficient to meet the said interest and to contribute to the
said sinking fund a sun sufficient to pay the said bonds at maturity
Section 4 The sale of the said bonds to E. H. Rollins & Sons
is hereby confirmed and the said bonds shall be delivered only as a
like principal amount of the outstanding bonds to be refunded are
retired and cancelled
Section 5 This ordinance shall take effect from and after its
passage and publication
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