43 of 1931 - Authorizing issuance and sale of $600,000.00 Sewer Bonds i
The Board of Commissioners of Salt Lake City, Salt Lake County,
j Utah, met in regular session on Wednesday the 16th day of
December , A. D. 1931, at the hour of 10 o'clock A+M.,
due, legal and timely notice of said meeting having been given to all members
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as required by law and the rules and ordinances of said City.
Upon roll call the following members were present:
Mayor, John F, Bowman
Commissioner, T. T. Burton
Commissioner, Chas. N. Fehr
Commissioner,Harry L. Finch
Commissioner, Jos. H. Lake
Also present: Ethel Macdonald, City Recorder.
The following were absent: None.
Commissioner Chas.N. Fehr then introduced and moved
the adoption of the following Ordinance, which Ordinance was read in full by
the City Recorder:
ORDINANCE NO. 43.
43 AN ORDINANCE PROVIDNG FOR THE ISSUANCE AND SALE OF SIX HUNDRED
THOUSAND DOLLARS ( 600,000.00) SEWER BONDS OF SALT LAKE CITY, UTAH,
OHEREAS, by the result of a special election duly called and
held in Salt Lake City, Utah, on Tuesday the 27th day of October, A.D. 1931,
said City was authorized and empowered to issue and sell Six Hundred Thousand
Dollars N600,000.00) Sewer Bonds, for the purpose of supplying said City
with a general storm and drainage sewer and increasing, enlarging, extending,
and perfecting the present storm and drainage sewer system of Salt Lake City,
said sewer and sewer system to be owned and controlled by said municipality,
and
'WHEREAS, the result of said election was declared by the Board
of Commissioners of said. City, sitting as a Board of Canvassers, by resolution
duly passed on Monday the 2nd day of November, 1931, and
WHEREAS, it will be necessary for the City to have available
i•fiY/r
in the near future, the funds from the sale of said bonds for the
43
purpose above set forth,
NOW, ERF ORE, BE IT ORDAINED by the Board of Commissioners of
Salt Lake City, Utah:-
Section 1. That for the purpose of supplying said City with a
general storm and drainage sewer and increasing, enlarging, extending and
perfecting the present storm and drainage sewer system of Salt Lake City,
said sewer and sewer system to be owned and controlled by said municipality,
in manner provided for in an Ordnance passed by the Board of Commissioners
on the 4th day of September, 1931, providing for and ordering a special
election for the purpose of submitting to the qualified electors of said City
the question of incurring a bonded indebtedness in the amount of Six Hundred
Thousand Dollars ($600,000.00), there shall be issued Six Hundred Thousand
,Dollars ($600,000.00) Sewer Bonds, Series of December 15, 1931, which bonds
;shall be in denominations of $1,000 each, numbered consecutively from one
(1) to six hundred (600), both inclusive, to be known as "Salt Lake City
'Sewer Bonds, Series of December 15, 1931,n to be dated December 15, 1951 and
'to become due and payable serially in numerical order, $25,000 on December 15th
in each of the years 1942 to 1950, both inclusive, and $575,000 on December 15th,
1951. Interest on said bonds shall be payable semi-annually on the fifteenth
days of June and December in each year, both principal and interest being
payable at the Irving Trust Company in New York City, N. Y., or at the first
Security Trust Company in Salt Lake City, Utah, at the option of the holder.
'Said bonds shall bear interest at the rate or at rates not exceeding 5% per
annum, to be hereafter designated by resolution of the Board of Commissioners
of Salt Lake City, said bonds and each of them shall be (except as to
consecutive numbers, date of payment and rate of interest) in substantially
the following form, to-wit:
!i
UNI'lE:D STATES OF' AMERICA
STATE OF' UTAH
.ALP LAE' CITY
SN&A BOND
SERIES OF' DECEMBER 15, 1931
No. $1,000.00
KNOW ALL MIN BY 'Trt1 SE PRS.SENT'S:
That Salt Lake City, Salt Lake County, State of Utah, hereby acknowledges
itself to be indebted and for value received hereby promises to pay to the
bearer hereof the sum of ONE 'TTHOUSAND DOLLARS ($1,000.00) in Gold Coin of the
rUnited States of America of the present standard of weight and fineness, on
the fifteenth day of December, A. D. 19y, at the Irving Trust Company in
New York City, N. Y., or at the First Security Trust Company in Salt Lake City,
Utah, at the option of the holder, with interest thereon at the rate of
per cent ( %) per annum from date until paid, payable semi—annually
in like money on the fifteenth days of dune and December in each year, said
interest to maturity being represented by interest coupons hereto attached.
This bond is issued for the purpose of supplying said City with a general
storm and drainage sewer and increasing, enlarging, extending and perfecting
the present storm and drainage sewer system of Salt Lake City, in manner
;'.provided for in an Ordinance passed by the Board of Commissioners on D:leember
16t1 ,, 1931, under and pursuant to the provisions of the Constitution and
Laws of the State of Utah, by the Board of Commissioners of Salt Lake City,
and as authorized by the electors of said City at a special election held
for that purpose.
The Board of Commissioners shall annually levy a tax sufficient to pay
the interest on this bond as it falls due and also the principal thereof as
it falls due.
It is hereby certified, recited and declared, that all conditions, 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 thereof
!ihas been duly complied with and that this bond is within every debt and other
;limit prescribed by the Constitution and Lava of said State.
The full faith, credit and all taxable property, within the limits of
said Salt T.Pke City, as constituted at the time of the issuance hereof are
and shall continue to be pledged to the punctual payment of the principal and
interest of this bond.
IN WITNESS WHEREOF', Salt Lake City has caused this bond to be signed by
;fits Mayor and City Treasurer and its corporate seal to be affixed hereto,
attested by its City Recorder and the annexed coupons to bear the facsimile
,signature of the City Treasurer, as of the fifteenth day of December, A. D. 1931i
ATTEST: Mayor
City Recorder __ w
City Treasurer
, BAL)
;;1;
To each of said bonds shall he attached a coupon for eaoh
installment of interest contemplated by said bond, which said coupons shall
be consecutively numbered, beginning with No. 1, with the several dates of
payment and number of bonds and shall bear the facsimile signature of said
City Treasurer, and said coupons and each of them shall be substantially in
the following form, to—wit:
(FORM OF COUPON)
No._ $
June
On the fifteenth day of December, A. D. 19 , Salt Lake City, Utah,
will pay to the bearer hereof, at the Irving Trust Company in New York City,
N. Y., or at the First Security Trust Company in Salt Lake City, Utah, at the
option of the holder, the sum of
($ ) in Gold Coin of the United States of America of the present standard
of weight and fineness, being six months' interest then due on its Sewer Bond,
Series of December 15, 19S1.
(Faeeimile Sivnature)
Bond No. City Treasurer
There shall also be endorsed on each of said bonds the
following:
"I hereby certify that this bond is within the lawful
debt limit of Salt Take City, Utah, and is issued
according to law.
City Auditor"
Said bonds and each of them shall be signed by the Mayor and
City Treasurer and sealed with the seal of said City and the said coupons
shall bear the facsimile signature of the City Treasurer. The Mayor and City
Treasurer of said City are each hereby empowered and directed to sign 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, Treasurer and Recorder in so doing are
and shall be the act and deed of Salt Take City.
All covenants, statements, representations and agreements
contained in said bonds and coupons and all recitals and representations of
this ordinance are hereby considered and understood and it is hereby ordained
and declared that said covenants and promises therein are the covenants and
promises of said Salt Lake City and that the representations and statements
therein are the representations and statements of said City.
ff
And it is further stated and represented that Salt Lake City is a
municipal corporation and a City of the first class under the Constitution
End Laws of the State of Utah.
Section 2. The Board of Commissioners of Salt Lake City shall
,nnuelly levy or cause to be levied for the years in which interest and/or
:rir:cipEI are payable a direct annual tax on all taxable property in said
City, in addition to all other taxes, sufficient to pay the interest on said
bonds as the same shall fall due and also to pay the installments of
principal on said bonds as the same shall fall due. Said taxes when collected,
shall be applied solely for the purpose of the payment of said interest and
principal of said bonds respectively and for no other purpose whatever 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 the purpose to
the payment of said interest or principal, as the same respectively mature.
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Section 3. Said bonds shall be issued and sold in such amounts
at such times and bearing such rates of interest, not exceeding five (5%)
per annum, as the Board of Commissioners of Salt Lake City may hereafter by
resolution determine.
Section 4. That all ordinances and resolutions or parts of
ordinances and resolutions in conflict with the provisions hereof, 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 5. In the opinion of the Board of Commissioners of
said City, it is necessary to the peace, health and safety of said City that
I, this ordinance become operative immediately.
Section 6. NOW, THEREFORE, BE IT ORDIND that an emergency
is hereby declared and this ordinance shall take effect and be in force upon
the day of its passage, approval and publication.
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PASSED by the Board of Commissioners of Salt Lake City, Utah,
'i and approved this day of6�� , A. D. 1931.
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j ATTEST: Mayor
1 City Recorder _ __--/
i1 (SEAL)
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d It was then moved by Commissioner Fahr and
seconded by Commissioner Finch that said ordinance be read '
1 three successive times and placed upon its final passage. Said question upon ,
!i being put to a vote was unanimously carried by the affirmative vote of. all
Ca)
1 Commissioners present, the vote being as follows:
Commissioner, John F. Bowman, Mayor "Aye"
II Commissioner, Charles N. Fehr "Aye"
h Commissioner, Harry L. Finch "Aye"
Il
II Commissioner, Joseph H. Lake "Aye"
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1 Commissioner, T. T. Burton "Aye"
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Thereupon said ordinance was read three successive times.
h Commissioner Fehr then moved the adoption end
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passage of said ordinance as read; and that the same be published once in
The Deseret News which motion was seconded by Commissioner
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Finch and upon being put to a vote was carried by the
jaffirmative vote of all Commissioners present, the vote being as follows: 1
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ter.
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Commissioner, John F. Bowman, Mayor "Aye"
Commissioner, Charles N. Fehr, "Aye"
Commissioner, Harry L. Finch, "Aye"
Commissioner, Joseph H. Lake, "Aye"
Commissioner, T. T. Burton, "AYe"
{ ry
ADOPTED AND APPROVED THIS 16thday of December
A. D. 1931.
ATTEST: I i. Mayor �I
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Ethel Macdonald
City Recorder
(SEAL)
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SPATE or UTAH )
SS
SiJT LAKE COUNTY) I I
I, Ethel Macdonald, the du]y chosen, qualified and acting
City Recorder of Salt Lake City, Utah, do hereby certify that the above and
foregoing constitutes a full, true and correct copy of the minutes of a
regular * meeting of the Board of Cormis loners of Salt Lake City, i t
of which all members had due, legal and timely notice s required by law
and the rules and ordinances of said City, held at the re„uie.r mooting place
of said Board on the _ lla day of December , A. D. l331, in so far
as the same refer to or concern the issuance and sale of 4,p000,000.00 Sewer
Bonds of said City, as the same appears of record in ;r7 office in Rock 1931
at pages 43 ; that, I personally attended et said
meeting and that the foregoin.q proceedings were in fact held as in said
minutes specified. i I
IN WITNESS FF37SDEOF, I have hereunto set rrgr hand and affixed the
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corporate seal of said City this day of , A. D.
1931. E
City Recorder
(SEAL)
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Proof of Publication
STATE OF UTAH, 1.
County of Salt Lake
AN , " e.; .o itSr, ,3,17g' bteurtt08n.
AN ORDINANCE IIB• ,, ltt+^t- s- r.
'THE 188VANCE AND SALE ? Md 'n each
HUNDIIED THOU%AND DOLLA of geld a t
(1609,000.001 B ' tllp l thishand It
LAKE UTAH BONDS ON SAL I hee CITY, UTAH• within the lawful Malt Of'841t
WHEREAS, by the reeulandf hall I+jp k City.TRIM,end 1s 1bNed ecCdrdJ
a 1*101election duly called t t0 law.
Se]t Lsr City, Utah, on T41021. th1al&
17th day.of October, A. D•, 1971, said City Auditor."
fesue e.astheri ea and empowered to Said bond.and each of lbent shalt I loses and sa s
p Six Nbndred Thelleenl aliened by the Mayor end cn* Trete- y that he is the adverbs-
-Donate (1600,000.90) Sewer Rondl. far Prer and seated with he peal a Geld
the perpoee 6e supplying Bald City with City and the Bald o4pons Pali Dear
siomerai alarm end dratneta ewer MN the feesimlle signature. of the City
e. 'T NLIf�S, newspaper published in
IooYsaAn emerging, extending, one Treaeurer. The Mayor end CRY Treee- a
perteoeno the bream term end dralf•tier of Bata City are each hereby she
age 'ewer eyetem of.Salt.Enke City powered and abetted to elan d the
said power and 'ewer system to a affix
Recorder to sign and attest and
owned d cdnO011ed by .aid mania' the Seal et Id City to re. of aunty,in the State Of Utah.
panty.and said bonds and the pap oe said Mayor,•
WlIEREAS,the result of Raid elect'.Treaeurer and Recorder in so doing are 9
wee dot/.red by,the Board 01 Caxj•gild shall be the act and dead a flit
mlaeloner. of. 'aid CRY, UMS ae a Lake City. YvadE._ _ • '
Beard of cenetesere.by od tlon duly All•covenants, enters n . repreepn- ----------- _____
hustled On Monday the Ind day of NO-tatione..lid agreements contained In said•
vembUr, 1991, andwlll be n0eaeaSry for bond.and voUpona and all recital.and !f
WHEREAS. it av811beis in the n r rep[etent-Selo. of this orrdinance ere a
'Ulu e,ty to have eeqq parser ceneldered and underetoed ______________
f4ture,the funds Rom the sale of ally it I.hereby ordained and declared that _1 -
bonda lot ILER)YOREab BEe en--,1 0R-Bald Ooveneote and promises refer are /
NOW. T the covdnanta and bromiea of said Salt _ ___
PAINED by the Board.Of CO mission lake City and that the
• L and etatemente therein aft rthentrep.- ---
-----------------------
eta of salt eke Clty, Utah: ee rsppre_
' Section 1. That for the °f eentation!and etatemente Of said City.
aunplYiaq sold City with a general'term And it is further plated and repro-
•and drainage cower end Increasing,an-sent0d that Salt Lake Pit le a munioM"
Ierging, extending and perfecting the Tel corooratien and a City of the first -'""
pYeeent torn) ddraioa8 glower 6y91em clap..under the Constitution and Laws
Of Salt Lake City. Id a and eewe[of the State of Utah. Cached,
a item to be weed end controlled by Section 1. The Board of 000uelle- was first published in said
'Gala muolcipelity, in manner Drovldad Goners of Salt lake City shall annuelrs
Me In an Ordinance Pd.. DY the ieVy or caves to be].vied for the years.
Board Of COmhlleeMile on ilia Pill In which Interact lid o Minolta] nr _
day of September, 1711, providing for a r s , the.._.._....._
and ordertpg a e..I election for the Web.a direct annual tar On ell tax-
purpose of submitting to the Qualitted 1 property In .aid City.In addition: ay of
` fo¢II Other taxes,¢dtilclent to Day the.
l elect.. se Said City the gUeption of Interest On Bald bonds as the came _________
6Mdurit e•I 'lit H�dlrod'lit ndnDeie'hail tall due and also to pay tea m- "-------------A, D. l9j_.j
lore (7600,000.00), there 'hall be ts- ctallmenat of alln(al oe paid bones
e ed SI Hundred Tlt°usanA Dellai as the same'hat{fall duo Seld tale."
pp yy,. when collected, shell be applied aelsly'
lie tr000.001 Hewer Bdna., eerie. et for the Durnose of the payment of.a)d
Ueocmber 16, 1961, which bonds shall in6eie¢t -� `Q
be In dsnomindtione f 71;100 each, and princlpaio of said Vend' l
porno.-
numbered c°nee0utwely from One(1)to rfn.!!!
e.0apever00utively and for that / �/
she hundred(600),both 1.1.1ve.to be h!ever t)1 the 7ndeDtbdnea so eon- ling in the issue dated the U�/-
known as"Salt Lske City Sewer Ronde, e01 li,teretaeh¢hlahaun boons, grincaiai,
Series of December It,1931."to be oat- ev_ticost and dlecharged, but nothing
ed December 16, 1931, and to become herein contained 'hall.be so oppptruSd �—_
due and payable NflellY•In 1fUmOflcal a. to prevent said City from applying -------"" ---A. D. 19 l
oreder,176,000 do 10 to Der]6th In cacti spy other funds that may be in the.
of tRe Yearb 1912 !° 1960, both InCiyy CI[y Treasury and evallaD]e lot the pur-
epive, and 7176:000 on De'eamber 16th Dosce to the payment of Geld Mee..
1961, Infers.on .1d boucle shall be or principal, as the sane ragpeetively"
Qeyeb/4 eeml-annual]yD On the fifteenth
enth mature. /
yaps of Tn.Roth pile and and ion ere't being Section 3. `Said h..obeli be leased "^ ---
and seta in such amount'at such times,
--------
Mehl* t the Irving Trust Company and.heathqq'udn rate.41 wtereat pal Advertising Clerk,
In New at
City.N.Y., h or at the a Beeding teoe)per anndm,se the board
First City,ttoo Trust Come a Y in Salt a eaflsr slone[' f Salt 110 City may-
Lake City.Utah, et the piton of the Usereaftrr by raeoluetixn drdinunhd,
holder. Said bond.O ell Mar reterest 60e Uon 4. That s11 ordinapptee and-
at the rateet rates not eheeeding re.clotione or parts f- th MP and
St par eeht ornne. ender,, to M bane resolution! in conflict wan the ptevl-
L after dofp Cetied by ors of 1 of the alone pealed be and the alma are here-
Board of Cettnn MO sec. of Sgq1t Ley Dy rdp sled and eclat said bond' ae' /
here-
CRY,Bela bbn4tl MO each et them.Rail ee
be (egoept a to eonseo411vo number',tOhs lrrege th er until'nil bhave eat'
---gets Of payment lid fete of I ni, lit) the lnel ant thereon ball bevel'Men day of
in subetMtlaay till following form, to•fully paid, 0atietied and dteeherged as •
WIN herein prOvl4a4.
•STATES OF AMERICA Section 6. In the opinion f the"
UNITED. Beard of eommieeldnees a said sty,
STATE OF UT,��tH ale necessary tot the peace,health.and
SALT LA,tKE CITY safety of said City that Nile ordinance
tIWEB HOND ecame eDerative immeat99leiy
eERIES OF OxeCEMRER de, mt. 86ot10n 6. NOW, THERHFORE, HE
.�-- i1000.� hofeby eoolsred naa thli Ordinonce epnii �a
NO.SWOW ALL BEN BY THt68E f
take eff'ct and be 1n roves upon the -'--""
PRESENTS: ear of its paeeage, approval and put- Not Public.
That Salt Lel.City,Salt Leke Goon•Citation.
ty,State I Utah,hereby e^koV one. PASSED br the Hoard of COmmlaa.
itealf to b0 o' pro eA and 11 alas the elanera t Salt Lake City, pen. n
Slued hereby Dtd mfsee to pay to approved till' Seth day Of December, -
CJI!I1r hereof thpe� painm [ONA THOU-A: D., 1931,
SAND NOLEA l (5 600.00) in Geld JOAN Co.BOWMAN.
Coln of the united Stet. of Ante.. Moor. -
6e the pres.nt standard Of weight end ATTEST:
ff en*Ra, en the flaeentk day et D0$ 1THEL IfACy BatS l
C-Nuot A. rti 19-- f the Irving (Seal) OItY RecbrC4r•
Trust at theyy 1n New t T Olty, N. Fub No. 13.
7.,of at the Valet Security TTu`L Oom- PUb1leh.a pea.18,1981.
pang in Salt Lake City. Utah. et e
option of the bolder.with interest there-
on at the rate of--per cent
n t'(—Ts)
per annum from date until paid, pay-
able mi-annually In like notley
the fifteenth days of June and Decent- '-
bet In each year,said interest to ma.
turlty being represented by Interest eon-
pone hereto attached.
This bond 1s ieeubd for the purposs
of supblyhig said City with a general
storm and drainage sewer and increae-
Mg, enlarging, extending and effecting
the present to and drainagecower
system of Salt r Lco
Lake City, to marmot.
teva °Ofmtenec -hBordComieson° o passed
her if. 1931,. under and pureuant to
tho provisions of the Conetitutldn and ,.
law.of the State of Utah,by the Board
of Commioeldnere of Salt Lake Cite,
and as authorized by the electors of Said
City at a epeclel election held for that
purpose.
The Board of Commissioner..shallan-
nually levy a tax sufficient to pay the
Interest 6n this bond es it Mile dub and
also the eerinelpal thereof as it falls
due.
It le hereby certified.recited and de-
clared, that all conditions, acts and
thing.eeeent let to the validity of this
bond ester, have happened and have
been done and that every t meet
of law affecting the Isue thereof has
horn duly CenlPhed with d that this
bend is within every debt and other
limit prescribed by the Constitution and
Laws of said State. e
The fun faith, credit and all tax-
ble property,within the limits of slid-,
Salt Lake City, tie oonotituted at the
time of the insane. hereof are and
shall oontlnae to be pledged to the
Punctual payment of the principal and
interest of this band.
IN WITNESS WHEREOF, Salt Lake
City has caused this bond to be*Holed
by its Mayor and City Treasurer and
it.corporate seal to be affixed and
hereto,
etteeted bit Its CRY Recorder and the-
annexed Coupons to bear the thcelmile signature gnature of the City Treasurapzi.
the fifteenth day 6f I3 amps•'
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City
ATTEST:
City Recorder.
(Seal)
TO each of said bonds shall M at-
tached coupona for each installment •
of interest contemplated by said band.
which said pone shall be
tively numbered,beginning yeaeuto.1.-
with the ea eras dates of payment and
fu ber of vbonds and shall bear the.
acsimile signature of said City fTreas-
tires em
shalland be substantially in en.and the fallowing.
form, to-wit:
(FORM OF COUPON)
No.— 'd--
On the fifteenth day of June Ufa-
her, A, D.,Stile Salt Lake City,Utah,
will pay to the bearer hereof, at the
Irving Tenet Company In New York CRY,N. Y„ or at the Fired Security Trust
Company to Salt Lake City. Utah, et
the option of the bolder, the soma of
.e )1n Geld Coln of the Cull-
State. of America of the prevent
weight et and
flse ,eess, being
2Meree
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