HomeMy WebLinkAbout5 of 1934 - Providing for the issuance of One Million Six Hundred Seventy Five Thousand Dollars Refunding Bonds 130c. 103 441'.::, o
ROLL CALL
VOTING AYE I NAY - Salt Lake City,Utah,
K 1.. 193
ViGoggin , I move that the ordinance be passed.
Keyser Y '..
-421.-4-0iV-iir--- -----
Knight 1 , ___
Lee w s "]
Mr. Chairman - 1
Result
_I
{
AP oRDIN/ 0
AN ORDINANCE PROVIDING for the issuance of One Million Six Hundred
Seventy-five Thousand Dollars ($1,675,000.00) Refunding Bonds of Salt Lake
City, Utah, Series of February 1, 1934.
WHEREAS, by ordinance duly passed by the Board of Commissioners of
Salt Lake City, Salt Lake County, State of Utah, on February 16, 1914,
there was authorized the issuance of Seven Hundred Seventy-five Thousand
Dollars ($775,000.00) bonds of Salt Lake City to refund Seven Hundred Seventy-
five Thousand Dollars ($775,000.00) bonds, being part of an authorized issue
of Eight Hundred Thousand Dollars ($800,000.00),! issued for permanent improve-
ments and for other corporate purposes, dated May 1, 1894, due May 1, 1914,
bearing interest at the rate of five per cent (5%) per annum, which said
refunding bonds were issued to bear date of May 1, 1914, due and payable
May 1, 1954, bearing interest at the rate of four and one-half per cent (4z%)
per annum, in denomination of One Thousand Dollars ($1,000.00) each, which
bonds were duly and lawfully issued and sold and are now the legal and valid
outstanding obligations of Salt Lake City, for the payment of which the full
faith and credit of said City are pledged, and interest has always been paid
promptly on said bonds when due and the legality or validity of said bonds,
or any of them, has never been questioned in any way, and
WHEREAS, by the result of a special election duly and lawfully
called and held in Salt Lake City, Utah, on February 18, 1914, and pursuant
to an ordinance duly passed by the Board of Commissioners of Salt Lake City,
Utah, on the 22nd day of June, 1914, there was authorized the issuance of
Salt Lake City, Utah, Water Bonds, Series "F" in the amount of Five Hundred
Twenty-five Thousand Dollars ($525,000.00), denomination of One Thousand
Dollars ($1,000.00) each, numbered from one (1) to five hundred twenty-five
(525), both inclusive, bearing interest at the rate of four and one-half
per cent (4 ) per annum, dated July 1, 1914, and due and payable July 1,
1934, which bonds were issued for the purpose of defraying the expense of
increasing, improving, enlarging, extending, perfecting and adding.to the
present water supply and waterworks system now owned and to be owned and
controlled by Salt Lake City, all of which bonds were duly and lawfully,
issued and sold and are now the legal and valid outstanding obligations
of Salt Lake City, Utah, for the payment of which the full faith and credit
of said City are pledged, interest on said bonds always having been paid
promptly when due and the validity of said bonds never having been questioned,
and
WHiSRSAS, by the result of a special election duly and lawfully
called and held in Salt Lake City, Utah, on February 18, 1914, and pursuant
to an ordinance duly passed by the Board of Commissioners of Salt Lake City,
Utah, on the 22nd day of June, 1914, there was authorized the issuance of
Salt Lake City, Utah, Sewer Bonds, Series "F" in the amount of Three Hundred
Seventy-five Thousand Dollars (g575,000.00), denomination of One Thousand
Dollars 41,000.00) each, numbered from one (1) to three hundred seventy-
five (375), both inclusive, bearing interest at the rate of four and one-half
per. cent (4p) per annum, dated July 1, 1914, and due and payable July 1,
1934, which bonds were issued for the purpose of defraying the expense of
completing, increasing, extending and adding to the present sewer system
now owned and to be owned and controlled by Salt Lake City, all of which
bonds were duly and lawfully issued and sold and are now the legal and valid
outstanding obligations of Salt Lake City, Utah, for the payment of which
the full faith and credit of said City are pledged, interest on said bonds
always having been paid promptly when due and the validity of said bonds
never having been questioned, and
whLR.dAS, all of said bonds above described are due and payable
as indicated and the City has or will have available funds with which to
pay the interest due on said bonds at maturity but will not have any funds
available to pay the principal of said bonds when the same falls due, and
it is necessary therefore and for the best interests of said City that
Refunding Bonds of said City be issued to provide funds for the payment
of said bonds above described, aggregating the sum of One Million Six
hundred Seventy-five Thousand Dollars (gl,675,000.00).
NOW, THEREFORE, BE 1'i uhDAJdthD by the Board of Commissioners of
Salt Lake City, Utah:
SECTION 1. That for the purpose of refunding the above described
Salt Lake City, Utah, four and one-half per cent (4i) bonds, being Seven
Hundred Seventy-five Thousand Dollars ($775,000.00) Refunding Bonds, due
May 1, 1934; Five Hundred Twenty-five Thousand Dollars ($525,000.00) Water
Bonds, Series "F", due July 1, 1934; and Three Hundred Seventy-five Thousand
Dollars ($375,000.00) Sewer Bonds, Series "F", due July 1, 1934, and for the
purpose of paying and redeeming the same, there shell be issued Salt Lake
City Refunding Bonds, Series of February 1, 1934, in the amount of One
Million Six Hundred Seventy-five Thousand Dollars ($1,575,000.00), dated
February 1, 1934, bearing interest at the rate of four and one-quarter per
cent (41) per annum, payable semi-annually on February 1 and August 1 in
each year, commencing August 1, 1934, in denomination of One Thousand
Dollars ($1,000.00) each, numbered from one (1) to one thousand six hundred
seventy-five (1,675), both inclusive, payable serially in numerical order
Fifty Thousand Dollars ($50,000.00) on February 1 in each of the years
1943 to 1953, both inclusive, and One Million One Hundred Twenty-five Thousand
Dollars ($1,125,000.00) on February 1, 1954. Of said One Million Six Hundred
Seventy-five Thousand Dollars ($1,675,000.00) Salt Lake City Refunding Bonds,
Series of February 1, 1954, bonds in the amount of Twenty-five Thousand
Dollars ($25,000.00) payable in each of the years 1943 to 1953, inclusive, and
bonds in the amount of Five Hundred Thousand Dollars ($500,000.00) payable in
V 1954, shall be issued for the purpose of refunding the Seven Hundred Seventy-
five Thousand Dollars ($775,000.00) Refunding Bonds above described, due May
1, 1934; bonds in the amount of Fifteen Thousand Dollars ($15,000.00) payable
in each of the years 1943 to 1953, inclusive, and bonds in the amount of
Three Hundred Sixty Thousand Dollars ($360,000.00) payable in 1954, shall be
issued for the purpose of refunding the Five Hundred Twenty-five Thousand
Dollars ($525,000.00) Water Bonds, Series "F", above described, due July 1,
1934; and bonds in the amount of Ten Thousand Dollars ($10,000.00) payable
in each of the years 1943 to 1953, inclusive, and bonds in the amount of
Two Hundred Sixty-five Thousand Dollars ($265,000.00) payable in 1954, shall
be issued for the purpose of refunding the Three Hundred Seventy-five Thousand
Dollars ($375,000.00) Sewer Bonds, Series "F", above described, due July 1,
1934, and the refunding bonds to be so issued are hereby designated by
numbers as follows:
YEAR OF MATURITY BONDS TO REFUND 0776,000 BONDS TO REFUND 0525,000 BONDS TO REFUND 0375,000
REFUNDING BONDS WATER BONDS, SERIES 'F', SEWER BONDS, SERIES 'F',
DUE MAY 1, 1934 DUE JULY 1, 1934 DUE JULY 1, 1934
AMOUNT' BOND NUMBERS AMOUNT BOND NUMBERS 1 AMOUNT BOND NUMBERS
i
I
1943 425,000 1 to 25, inch. 415,000 26 to 40, incl. 410,000 41 to 50, incl.
1944 $25,000 51 to 75, " ( 415,000 76 to 90, " 410,000 91 to 100, "
1945 25 000 101 to 125,, " � $15,000 126 to 140, " 410,000 141 to 150, "
1946 25,000 151 to 175, " 415,000 176 to 190, " 410,000 191 to 200, "
1947 $25,000 201 to 225, " 415,000 226 to 240, " $10,000 241 to 250, "
1948 $25,000 251 to 275, " $15,000 276 to 290, " $10,000 291 to 300, "
1949 $25,000 301 to 326, " $15,000 326 to 340, " ' $10,000 341 to 350, "
1950 $25,000 351 to 375, " $15,000 376 to 390, " 410,000 391 to 400, "
• " 1951 425,000 401 to 425, " 015,000 426 to 440, , "'' €. 10,000 -r441 to 450, "
1952 425,000 '`451 to 475, " 415,000 -476 to 490, '- 410,000 491 to 500, "
1953 025,000 501 to 525, " i 415,000 526 to 540, " 1 410,000 - 541 to 550, "
1954 4500,000 551 to 1050, " 4560,000 1051 to 1410, " 14265,000 1411 to 1675, "
Said bonds and each of them shall be, except as to numbers and maturities,
in substantially the following form, to—wit:
UNITED STATES OF ANERICA
STATE OF UTAH
SALT LAKE COUNTY
SALT LAKE CITY REFUNDING BOND
SERIES OF FEBRUARY 1, 1934
No. $1,000.00
,Salt Lake City, in 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 THOUSAND DOLLARS (01,000.00)
in lawful money of the United States of America on the first day of February,
A. D. 19 . , at The National City Bank of New York, in New York City, with
interest thereon at the rate of four and one-quarter per cent (4*%) per annum,
from date until paid, payable semi-annually in like money on the first days
v/' of February and August in each year, commencing August 1, 1934, said interest
to maturity being represented by interest coupons hereto attached.
This bond is issued for the purpose of refunding legal and valid
outstanding bonded indebtedness of said city and is one of a series of
bonds of like date and amount and known as "Salt Lake City Refunding Bonds,
Series of February 1, 1934," issued under and pursuant to the provisions of
the Constitution and Laws of the State of Utah.
The Board of Commissioners of Salt Lake City shall annually levy
a sufficient tax to pay the interest on this bond as it falls due and also
to constitute a sinking fund for the payment of the principal thereof as the
same 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
hereof has been duly complied with, and that this bond is within every debt
and other limit prescribed by the Constitution and Laws of said State, and
that the full faith and credit of said Salt Lake City are hereby irrevocably
pledged to the punctual payment of the principal and interest of this bond,
according to its terms.
IN iiITNESS WHEREOF, Salt Lake City has caused this bond to be signed
by its Mayor and its City Treasurer and its corporate seal to be hereunto
affixed, attested by its City Recorder, and the annexed coupons to bear the
facsimile signature of the City Treasurer, as of the first day of February,
AN D. 1934.
City Treasurer
ATTEST:
City Recorder
(SEAL)
To each of said bonds shall be attached a coupon for each
installment of interest contemplated by said bond, which coupons shall
be numbered consecutively, beginning with No. 1, with the several dates
of payment and number of bond and shall bear the facsimile signature of
the City Treasurer. Said coupons and each of them, except as to dates
of payment, shall be in substantially the following form, to-wit:
No. ,.._ $21.25
February,
On the first day of August, 19 , Salt Lake City, Salt Lake
County, State of Utah, will pay to the bearer hereof at The National
City Bank of New York, in New York City, the sum of Twenty-one and
25/100 Dollars ($21.25) in lawful money of the United States of America,
being six months' interest then due on its Refunding Bond, Series of
February 1, 1934.
(Facsimile signature)
City Treasurer
Bond No. _
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, Salt Lake County, State of Utah,
and is issued according to law.
City Auditor, Salt Lake City, Utah."
All the 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,
and it is further stated and represented that Salt Lake City is a municipal
corporation of the first class under the Constitution and Laws of the State
of Utah.
SECTION 2. The interest falling due on said bonds on August 1,
1934, shall be paid out of the general fund of said City, and for the
purpose of reimbursing said general fund for said payment of interest
and to pay the interest falling due on said bonds on February 1, 1955 and
August 1, 1955, and also to constitute a sinking fund for the payment of
said bonds when due, there shall be levied in the year 1934 on all taxable
property within said City, in addition to all other taxes, a direct tax
sufficient to produce the sum of $190,551.25, being 0106,781.25 for
interest and $85,750.00 principal. And thereafter, in order to raise
the necessary funds with which to pay the interest promptly, as the same
falls due, and also to constitute a. sinking fund for the payment of said
bonds when due, there shall be levied in each of the years 1935 to 1953,
inclusive, a. direct annual tax on all taxable property in said City,
in addition to all other taxes, sufficient to produce sums as follows:
YrrAh kiiiiiULeAL 1N'1L'ht'.ul' T�JTAL
1955 $86,750.00 $71,187.50 $154,937.50
1936 83,750.00 71,187.50 154,937.50
1937 85,750.00 71,187.50 154,937.50
1938 83,750.00 71,187.50 154,957.50
1939 86,750.00 71,187.50 154,937.50
1940 83,750.00 71,187.50 154,937.50
1941 83,750.00 71,187.50 154,937.50
1942 83,750.00 70,125.00 153,875.00
1943 83,750.00 68,000.00 151,750.00
1944 83,750.00 65,875.00 149,625.00
1945 83,750.00 63,750.00 147,500.00
1946 85,750.00 61,625.00 • 145,375.00
1947 83,750.00 59,500.00 143,250.00
1948 83,750.00 57,375.00 141,125.00
1949 83,750.00 55,250.00 139,000.00
1950 83,750.00 53,125.00 136,876.00
1951 83,750.00 51,000.00 154,750.00
1952 83,750.00 48,875.00 132,625.00
1955 85,750.00 26,006.25 107,656.25 _
r"'I%
Said taxes, when collected, shall be applied solely for the purpose
of paying the interest and principal of said bonds respectively and for no
v' other purpose whatever until the indebtedness so contracted under this
ordinance, principal and interest, shell 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 treasury
and available for the purpose to the payment of said interest or principal,
as the same respectively mature, and the levy or levies herein provided for
may thereupon to that extent be diminished, and the sums hereinbefore
provided for to meet the interest on said bonds and to discharge the
principal when due, are hereby appropriated for that purpose, and said
amount for each year shall also be included in the annual appropriation
bills passed by the Board of Commissioners of said Salt Lake City in each
year respectively.
SECTION 3. Said bonds and each of them shall be signed by the
Mayor and the City Treasurer and attested by the City Recorder and the
coupons attached to said bonds shall be signed by the facsimile signature
of the City Treasurer. The Mayor and City Treasurer are hereby authorized
and directed to sign, and the City Recorder to attest and affix the seal to
each of said bonds and the acts of said Mayor, City Treasurer and City
Recorder in so doing are and shall be the act and deed of Salt Lake City.
SECTION 4. Said bonds shall be issued in place of the bonds to
be refunded and simultaneously with the cancellation thereof.
SECTION 5. Bonds in the amount of Seven Hundred Seventy-five
Thousand Dollars ($775,000.00) of said issue shall be sold and delivered
to Snow, Bergin & Company, First Security Trust Company, Edward L. Burton
& Company, Continental National Bank & Trust Company, Ure, Pett & Morris,
Inc., J. A. Bogle & Company, Snow, Goodart & Company and Blyth & Company
all of Salt Lake City, Utan, and the action of the Board of Commissioners
in disposing of this issue of refunding bonds and the agreement made with
1' the foregoing companies is hereby ratified andreonfirmed.
SECTION 6. 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
kr
- ;ha)-1 be and remain irrepealable until said bonds and the interest thereon
r .
x y pha.l have been fully paid, satisfL&d and diay rged as herein provided.
14'17s
3 - ,_ SECTION 7. The City Recorcr,4is herey instructed and directed
3..
p 4brCause copy of this ordinance to IDe""pub .shed immediately in one issue of
' ,•14`e/ $ t AP..1. a daisy newspar of general circulation
in and printed and published in Salt L�ik 'ity,!Utah.
SECTION 8. That an emergen* is hereby,>declared and in the
opehion of the Board of Commissioneft because of the necessity of raising
' n unds with which to meet Maturing obligations of said City, it is necessary
for the peace, health and safety of the inhabitants of Salt Lake City that
this ordinance take effect immediately.
SECTION 9. NOd, THEREFORE, BE IT ORDAINED 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.
Passed by th Board of Commissioners of Salt Lake City, Utah, and
approved this I3 day of 347,4" e„A , A. D. 1934.
WIr ova
ATTE SS f /1 4
City Recorder
(SEAL)
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Affidavit of Publication
•
STATE OF UTAH,
County of Salt Lake)
gig UILDINANCE .
:'`'AN'ORDINANCId PROVIDuda for the
deenande of One Million Rig Hundred Sey- Leo B Young
ty-five Thousand Dollars Y91,675,000.0bl,
'Refunding.Bonds of Salt Lake Clty.i
•Utah;.Settee of February 1. 1934, '..
-WBEREAd. by ordinance duly Weed
by,the soard f cotnmiseioners Of salt Being first duly sworn,deposes and says that he is the advertis-
J.ake City, Salt Lake.County, State.of
altah, on February 18,.1914, Chore was
authorized the lain/Owe of Seven Hun- '1,
died Seventy-five Thoneand Deflate ing clerk of THE DESERET NEWS,a newspaper published in
0775,000.00) bonds of Salt Lake C
to refund•.Seven-Hundred Seventy-five
' -
rs
Inapart of ausand n authorlaed Issue of Eight
Hundred Thousand Dollars(sa00,0o0.00). Salt Lake City,Salt Lake County,in the State of Utah.
led for permanent improvement.and!
hunted
for other Corporate.purposes,dated May !�
1,1894',due May 1,1914,•bearmg Inter-1 That the advertisement S j, City.QoJrp
set at the rate of five per cent (6q):
Der annu .which mold refunding bonds.
were Issued to bear date of May I.1914,'
doe and payable May 1, 1934. bearing', Ordinance No relating to Issuance of
heft et:at the ate of four and-o one-
half per cent(4 One per hooecu ,in de-
($ Inatton of One. -Thousand. Dollard.
1.000,00) ch,which bonds wereduly., Refunding Bonds
and lawfully..coded and eola a ell
`oar the legal and vald forthe outstandingob-'i
ligation.of Salt Lek.City,for the pays.
meet' f,which the fuignfaith anddntereet
i a Id City are pledged.•a
Ilan always been paid promptly on said
bonds when dpe and the legality or valid
•nt of.ale quee,or y of
them., n a' teas published in said newspaper, in its issue dated, the
dial election duly and lawfUlly oflled a
an 9
neverbeen questionedbyhe 1n
WHEREAS by the ♦ j— March
21,
meld in Salt-Lake City. tah.._on Feb..b. �7th da o{----------------14['Yx.Ci3F A.D. 19..34.-
Y 19.:.1914,and Burson,to.ap,ory J 1
dlnaoce duly pafeed by the-Hoard
on• the
.foner.of Salt Lake City,Utah.'.the Rend day of June, 1314, there. one issue
was authorized the laenahce of'Salt published
i
!Olty'. Utah, Wafter Bonds, Series
Salt Lake and w S "F"
the.amount of Five Hundred Twenty-
' ye Thousand Dollars(t626,a00.0 D),de-
nomination of One Thousand Dollars . the last publication thereof being in the issuerdated the
(>0.000,001 each.numbered from one 131
to flue hundred twenty-five (3281.both.
toolnnave. bearing intere.f et thee rate] day of A.D. 19
'of.tour and one-half per cent (4;4%1•per-annubl dated July 1.1whi and doe
and payable or t o 1924. winch_hood's
were the
for the purpose of AlefInwrov-
ing the'ezpenea of hog.l.rre 1'mprov-I _
Jn6..ealaeglhg,'egtehfllpg.'DerEecting and ----- -- =v a --
Ad rasing Cle
20th
Subscribed and sworn to before me this day of
March..................A. D. 19..34..
if
Notary/ ublic.
adding to the.➢resent water sup
ply and •The Beyrd-of,Commissioner Of-Salt
waterworks system D w wned and to Lake City hall annually levy .utficient
be owned and b ntrolled:by salt Lake tea to pay the Interest on thle build ea
City,all of which bonds were duly'and It falls due and also to constitute a
lawfully Issued and,sold and are now sinking.fund for-the payment-of the
the legal and valid outstanding oblige•principal thereof as the name fall'dua
bons,of Salt Lake Clly., Utah, for the 1t la hero%certlelod,recited and de-
payment at which the full faith and Glared that all conditions, acts and
l credit-o[ said City are pledged. Inter-things essential to the validity of thin
set onslid bonds always having been band exist. have happened and have
paid.romptly-when due and the valid-been done and that.o cry requirement
ny ul' said bonds never having bean of law Affecting the Issue hereof,'bas
questioned, and been duly complied with, and that this
WI41;RSJAS„by the result of a',Mole'bond Is within every debt and other
eluotloo duly and lawfuly bailed and:Milt prescribed by the Constitution and
held In Salt Lake City, Utah, on Fob.Laws of said State, and that the full
ruai'y 18. Isle, and pursuant to en
or.fnith and cradtt oil told Salt,Laks City
dinonce duly passed'by the Board Of me hereby Irrevocably pledged to tho
Commissioners of Salt Lake.City, Utah.Punctual, payment of the principal
n the'22nd day f.June, 191,4, there andtaL interest of this bond,n cording to
a authorized the Mahan.,o1 Salt Lake i IN WITNESS WHEREOF. halt Lake
ms,
i illty, Utah; o1 er lohrBonds,series"F" In City has tainted tble bond to Ool signed Ian 00goe t.Throb Hundred Seventy- y au
Ills T11Oueaod Dollar..M16,000.00, de-by its'Mayor and its City 'Treasurer
urination of One Thousand Dollars 0nd Ile corporate Beal to be hereunto
i three hundred aev interest
0761.both fa sin the
annexed coupons to bear.the
i ch:Aloe, bearing interest at the to oignaturla of the'City.7'reae-
of tone and oot..hnit per cent it du u f the]Irat day of February,
Per a n,dated July 1,1919,.and.due Ara D.as
and payable.July'1,•1934. which bonds
were
e e Issued for th purpose of defray- - Mayor.
nis the.expense f comyleting,.lnccea0•. -
ins, extending.and adding to the pros- City Treasurer.
ent•sower-system now owned and to be i"-` S2'• `
'Owned and controlled by Salt Lake City,ell
n •
of which bonds were duly and lawfully City Recorder.
Issued and gold. d are now the legal (SEAL)
end valid-outstanding-obligationsof Salt to each of said:bonds shall be attach-
Lake City, Utah, for the payment f ed a coupon for each Snstallm ant-of In-
Which the full faith:and credit of'said serest contemplated-by said bond,which
C ate bating.been on•said bonds uovpone shall be numbered consecutive-
always
g promptly•when aY,beginning with No.1,with'the asv-
due and the validity of said bonds 0. eel dates of payment and number'of
waving been questioned,-and never bond and shall bear the facelmlle slava.
WbIEREAS, All of-said bonds above tore o[the City tireaevrer. Said-
pone c au
WHEREAS,are due' n0 Datable as tool. end each of thorn, except as ate
Jtcd and the City'has or Will have avail-dates [payment, shall be 1rt subntnv-
hb.0 funds-.whit which to any the Iv 4ia'lly,the following form,to-wdt:
M-
ows, said bonds at maturity.but No 881.26
wills bite have'a y':fpnde available to On the .first day of August:
pay the
Ira l -due,al at and said bit 0end.necessary
Salt Lake City,Salt Lake County,Mate
therefore d for'the beet interests [of Ulah, well Pay to the bwroi"nereof
eald.,Clt that Refunding.Bonds of 'ld at The Natlooal Clty Sank of New York.
Yln'New York City, the um'1 Twenty
City bB Issued to'prhvlde funds.for the n and 2)i-300 Dollars (b23,26)In payment of maid bonds above described.ono
01 obey of the United Staten -of
law-
aggregating-the aim of Ono Minion Six America,bejet.the
months'lntereest then lundred Se4entY-five, Thousand Dollars due on Its Refunding Bend, Series en
41.675,000.09); February 198{. at
NOty, .by Olva Board, BE IT OR-
era01 O,by the Board of Commission- (Facsimile signature) `
er "Salt Lake City. Utah:
SECTION 1 That 4 the purpose f bond No • City Treasurer.
refunding:thisob e d g-halr.190.1 Salt I„ak There hall be dd ed Drt OsleS of,
City, Utal foul rid.0-e h If) t Sold bonds the follow'lil : "-
(9'h%)bends,.being Seven Hundred Env- (City Auditor's'Certtflcate) •
enty-flve Thousand Dollars 1. 15,000-.00) el hereby, a iffy that this bond Is
Refunding Hondo,due May 1,1384;Fivliar withla-ills )awful debt limit of Salt
Hundred Twenty-five TheuBonds.
hd De la.e Lake City, Salt Lake county.Stale at
(8626,000.00) Water Honda Series.dyrd Utah,nod Is issued according to law.
duo Jul)'.--1.,1989: and Three Hundred
vet,OIl-lve Thousand Dollars-0376,• City Auditor,'Salt Lal nnC}tY,Utah."
0o0..DO)-Hewer•Fonda Settee 'qr."'due Ail the c ants, B WW
Mg .1834.and for the purpose of pay-se'tatione and agreements,conttaf edrin
Ing and redeemingthe s ..there shall said-bonds and coupons a d all recftatha .
boos,ued serir.lot Februa tr lly B'J44 lb...the ereby tanside t title'ordinance.
1 hereby considered and uodorotood
ml u t 3 Thousand Biz Hundred Bev-And s is hereby ordained and declared
0000.00), Thousand 5,1Dollars (betel,-that sold covenant.and d-Piti as there-
tntereet datedtthe Februaryl le ue39,nd one'said
are It i. o.0 ty 'd➢remises of
snarler V cent(4'A%)Pernoun V y•.aid Salt L k C1ty and that the rents,
bW semi-Annually(Y F b vary�1 d entat[a .and sta;teniente•therein i ale--
Aagnst I'In each r,c m ODOIDS Au-DCA the .Presto tat font d statement elatedea t
gust 1, 1934, In year.
f One represented l that and Saltt Laker Cityisana
Thousand Dollars(1 L000.00)each,nun-municipal orporatlon of the[Wet'cleat
bored from one (11 to one thousand is under the constitution and Laws of the
hundreelusive,danyabla sserrii'allyt to numerleal or-, both State-of Utah.
der Flak Thousand Dallara (860.000.00) SECTt0 1. The Interest'falling dot
on February 1 In each of the years 1993 fin eel e v ugnet 1,1934,shall
to 1951,both inclusive„and One,Million n1QP Cidy out dof the general fund of
One Hundred Twenty-live Thousand Doi•tmburt as Bald general fund for vald�
here 01.125.e Million
on February 1.3954, Pay-
Of said One Mullen Biz Hundred Sev- tot fv[srest n d to Day she ivtereet
ty-flue• Thpuisend Doilare falling guns said bonds o•February
000.00)Salt Lake CRY Refeedfng,Roods.tons feu e a sinking.
main.f I.last,and oleo p-
Series of•February 1,.3934,bonds in'tha pant t of said]nbondsf when n due there
here
amount of-Twentyf(vs Thousand Dollar°shall be levied do the year 1981 on all
(826,000.00)Payable,in each of the year.taxable property within said CD.V,to ad-
ief3 to 1953,Inclusive,end bond.In the anion to 11 other to a direct tax
amount Of Five'Hundred Thousand DOI-sufficient to•produce the sum otr 8190,-
lees(8600,000.00)payable in. refunding
531.25,being 3108.781.25 for interest and
be tweed for the DuSeve of refunding 883,760.00 raise
teal. And.thereafter, fn.
the Seven Hundred Seventytive Thou-order to r lee the.necessary funds with
sand D611are srrtb,000�0n 'Refunding winch to pay the Interest also,
on toy.as
Bond,above described,dee May 1.1994:'the samefalls'due,and also,to c lf-
'bonds In the amount oI,$Ifteen Thousand tute.a sinking fund for the P shall t of
be
Dollare..f816,000.to 00ayable 4n each of said bonds when due, there
the years 16(8'to 1963. tnelecive) and levied in eeoh of the years 1936 to 1963,
bonds in-theamount of.Throe tHundred Inclusive,A direct annual tan.on all tax-
;Sixty The:M 3¢-Doilare (8360;000w00)able property SA said CRY,In addition to
payable In 1964,. bail be.Issued.for the ell.•other takes, euticient to:produce
pueDom.of'refunding•the VIVO Hundred snore as follows:
Twentystive..
(P10,,OOtl'.00))ya yabM n d.1Hotta."
hd e( -Year. 89,760Principal
. interest. Total.
000.00I'water idee,SO f■..F.".above 1935 $50,701.00 $71,187,61 1164.037.10
,eeeribed due JWpy bonds 71-
187.60 184937.80
to the.4tnovnt et Tn Thousand Dollars
yeass
1938 83,760..09 71,187.50 184,987.60
19(2 to 196$}},,,,1A61ti11ael 9t>&d,bonds'in the 1939 50,160.00 71.187,50
fly.:T 7}epnf a nd'11P011naH8Ts fl 8i tg-ttas l In 1941- 164,987..10
Tboa-1940 83.760:00 71.187.60 154487.10
pod I pIdE h :00yae II•
7 .00 181,501.use
1964,shall b '.Issued, r.the Pure s 1848 88'760.00 68000,90 161
.760,00
'efunding th Three''Hu d ed Sy-194 82 750 750.006, .00(P3b76're."d),?wd6 0 3760 7.406Honda d ; 1846 88:750.1 81,6 .00 11JiU
er duo July 1,3094,and the [barns bonds 1947 83,750.90 59.600,00 148,250.00
to be
Maus!!are hereby designated by t948 81,760.00 .00 141,126,00
numbers In
1949 83,750.00 55,set130:00 139,00(1.00
HBO 83,760.00' 63,126.00 188,876:00
Iint191 63,760.00 51.000.00 124.161.00'
to 83,750.00 48.876.00 182,626:00
1953 83,760.50 •23,906.28 107,658:26
Lilt—tit-it Ta had
ag k p'u.4"w n s'w:'6- Said texen, when-e fleeted, .hail.be
z applied solely'for-the purpose of Parr
Ing the interest and principal of ...Id
•0 w , e e - e e e e° L"'. bond.respectively'and for o ether pur-
1 0 W^e' 2" ^ 'Dose'whateveo'until the/ndebtedliese so
'
zm H O e' •a ee n e.... oebtracted under'this ordinance prin-
t P. 47 viral and interest.'shall have been ful-
b ad" Iy-paid, atiefied and dlecharge o, but
q J nothing herein contained shal'
a'-z'y oonetrued ae to prevent paid City from
64 W.r z a egg in-thegtrnanuryn and availablet forr the
to yWW'Ei O e m o v e e o o v e w eatrpoee yrin o the payment ys the ofa said rf ter-
pec-
gy tWWWW¢v .'Y'a lively mature, and sthe levy at' levies.
m E o « herein provided'for y.there/an'. to
W a : • that extent be diminished. d,ttlhe'mimenb heteteier..provided for to ieet.the
interest on said bonds -and'' to dis-
•
harge the principal when due,' ate
C ^' hereby appropriated for that purpose,
Si d'a's d-,_ _ __: and cold mount for each year shall
y 1 beIn l d d'In the'annual.appro-
e ] • Iati bills passed by the d of
Co,nmi I e f said Salt Lbk City•In
" cede year reectIvg•94 G SECTION.3 Said bonds and each of
them shall b igT d by the-Mayor-and
q,L4 the Cloy Treasurer and attested by'the
V a,,.i pl-_. .I" a• ." City Recorder,and tied co pone attach-
- ed f id bonds hail be'sig ed'by
E.qy rW3 ' the 4 Imlle, lg t "of th City
•
f4' O Trews e 'The.M Y and lreas-
z hereby authorized and dl et-
0 0 ti in - d rin Ig d th ,'City Re d
po PI W 7 [teat d file th I t k t Id
.� of e g -b a+ d the'act. f.- Id Mayor.vier
QW G O Treasurer d City Recorder In'en u-
«« « amand hall be'thet and d d of
O:d . . Salt LakeCity. ' -
El k • ' SECTION 4. Said bonds ehall'be Ie-
'rsued In'plane.'of„the bonds to be're
• funded rundedli and invelt tt ouely-With the
11 tl ttl eof
a S. SECTION 6-Bo'1 ov try-fiVauugtusf
• W __ _A g g seien gb aMd"Hnd 6;0114 y-fly thous,.
W a s Dollars and dOlivere o Snow,
Ieeue-
w0n.F,.H n 7 ee-7 e,. shish be.old and delivered to Snow,Trust
^ _ 'e" gin & Company, First Socdriir Trust
q P1" '22444444
company,Edward L.Barton&Compan
$$.°. Continental National Bank & rout
' (7 el G w Company, Cr., Pett &Morrie, Ian,'S.
{Sad al A. tootle &aC pa Y. Snow- anoohart
^E p m al ,.,.w w.n n+.'°10 A Company,and Birth&Company,all
of•Stilt Lake Clip, Utah, and thea
FE' Lion of the Hoard'of Commissioner.
t1 In disposing f this leene of refund-
,''''O:Q z g g g tag bdnde and the agreement made
u g 1th the.foregoing ompanlee le here-
by titled and at all'd,
b x n s,e"n a N .SECTION 0. That all ordinances and
aolutlwla or palls'Ram,
rdmanoee'and
reeolutione In conflict with'the provl-
K lone.hereof,be end the same arehere-
, y. p p by repealed. d after Id bonds a
4' t^ I Issued. this ordinance shall be and.'ree--
WW4F main Irrepealable:until said bonds and
h'OT,-, "�^'^'4" '""" the interest there "shall have been ful-
Satd bonds and each'of thorn ehall be,ly Pald, satisfied n and dlecharged a.
excapt am to numbers and maturities.In herein provided.
substantially.the following form,to-w1U. SECTION I..The,City Recorder Is
UNITED STATES'OF AMERICA hereby Instructed.arid,directed to cause
STATE OF UTAH corm of this o
m F
SALT;LARE COUNTY I ediatety In
SALT I:ARE CITE REFUNDLND BOND News a daily.
SERIES OF FEBRUARY 1,1934 - ulatlon In'and _ -
No.-- 41,000.DO,SaSECTION lt Lake Clty. ?"Salt Lake City,he Salt Lake county,hereby declared a
State of Utah,hereby ledges.lteelf the Board of Commissioner.because:of
n
to be Indebted and foror value
luo a eived the necessity of raising fund.with Wielh
hereby promises to Day to the bearer tomeet maturing obligations of weld
hereof the sum of City,It,Ise y for:the peace,'health
ONE THOUSAND DOLLARS(91,000.00) d fetY of the inhabitant+ f Salt
In Iawufhl money f the United"States Lake C t this ordinance take effect
of America on'the first day of February.immediately.
A.;D., fro et the National City Bank SECTION I.NOW,THEREFORE,Ht
P4 New York, In New York City, with IT ORDAINED that an ergency ig.,.
toereet.thereon at the to of four and hereby declared ffect'and the rdinatda
0darter per one toll er cent) per shall take effect and be,In force-A l
from date until,paid, payable or the,day,of Its passage approval
aaye annue b In like money on the first and Publication.
days of February pad August In each h ORO. D. REYSER,
year,commencing August lel.1034,a la Passed•by the Board.of,Commission.
Intermit to maturity being represented are of Salt Lake City.Utah.and,ape
by Interest coupons- hereto attached. Droved this 19th day of March,A. D„
.This bond is lseued for the Durpoae 1934. ,
of refunding legal and•valid ...tend-...tend- • OEO. D. REYSER,
lag bonded Indebtedness-of cold city and Temporary Chairman,
-Is one of a aeries of bonas of like date ATTEST, _
and amount and known "Sall Lake ETTHEL MAODONALD,
ICity Refunding Bonds,Sea ries of Fehr.- -City Recorder,
rY I,1034:'Issued under"and pursuant(SnlAL1
Ito the Dowlelnne of the Constitution and Bill No. 6. R
tawe"ef the State'of Utah. . Published March 16th, 1034, I_Ai
41'd
•--s
R-1.) ..
. F