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51 of 1944 - Providing for the issuance and sale of $1, 250,000.00 Tax Anticipation Bonds, Series of January 1st, DECICIBER (Ah , 1944 PAGE.6.44- The Board of Commissioners of Shct Lake City met in regular cession on Viednesday , December Ott) 1941„ at 10:00 o'clock A.M. in the regular meeting place. The meeting was called to order by Mayor Glade. On roll call the following members were present: D. L. Affleck Commissioner of later Supply & atereorks John B. Matheson Commissioner of Streets & Public Im- provements L. C. Romney Commissioner of Public Safety Fred Tedesco Commissioner of Parks & Public Property Earl J. Glade, Mayor Commissioner of Public Affairs and Finance, Chairman Also Present: Irma F. Bitner, City Recorder REPORTS OF CITY OFFICERS Pt.GE ORDINANCES AND RESOLUTIONS BILL NO. 51_ for en ordinance providing for the issuance and sale of One Million Two Hundred and Fifty Thousand Dollars ($1,250,000) Tax Anticipation Bonds of Salt Lake City, Utah, Series of January 1, 1945, introduced by Commissioner__ Glade , was taken up and read,: -1- AN ORDINANCE AN ORDINANCE PROVIDING FOR THE ISSUANCE AND SALE OF ONE MILLION 'I O HUNDRED AND FIFTY THOUSAND DOLLARS (91,250,000) TAX ANTICIPATION BONDS OF SALT LAKE CITY, UTAH, SERIES 0.' JANUARY 1, 1945. RHEAS, there is en immediate and pressing need for the raising of funds in the amount of One Million Two Hundred end F ifty Thousand Dol- lars ((61,250,000) for the purpose of meeting the current expenses of Salt Lake City for the year 1945 until the payment of the taxes for the year 1945, and WHEREAS, the estimated tax revenues of Salt Lake City for the year 1945 will aggregate iT'm Mil 7 ion Two Hnndr4vi Ninety-six Thnm.sand, Five Hundred Twenty-nine Dollars (4E2,296.529,00) and the total estimated revenue from all sources will aggregate Four million, One hundred Ninety Three Thousand,Five riundred Twenty-nine Dollars,(.4,19,3,529.00) and, WHEREAS, the sum of One Million Two Hundred and Fifty Thousand Dollars 01,250,000) required now to be raised is not in excess of said re- venue as estimated for the year 1945, NM, THEREFORE, BE IT ORDI TNED BY '1'HS BOARD OF COMIMISSIONERS OF SALT LAKE CITY, UTAH: Section 1. That said Salt Lake City, Utah, for the purpose of meeting current expenses of said City for the year 1945 until the payment of taxes for the year 1945, 'shall borrow the sum of One Million Two Hundred and Fifty Thousand Dollars 0l,250,000) and for that purpose as evidence of such indebtedness shall issue twenty-five (25) bonds, numbers one (1) to twenty-five (25), both inclusive, in the denomination of Fifty Thousand Dollars 050,000) each. Said bonds shall bear date of January 1, 1945, and shall be due and ocyable January 1, 1946, bearinrb interest at the rate of five-tenths of one per cent (5/10 of 1%) per annum, ,y.yable semi-annually on July 1, 1945, end. January 1, 1946, both principal and interest being pays.ble at The National City Bank of Nev, York, 55 ball Street, New York City, -2- New York. Said bonds shall be designated "Salt Lake City Tax Anticipation Bonds, Series of January 1, 1945." Said bonds shall be signed by the Mayor and by the City Treasurer and attested by the City Recorder under the seal of the City, and the coupons attached shall be signed ;:ith the lithographed or engraved facsimile signature of the City Treasurer. Said bonds shall be registered in a book kept by the City Auditor for that purpose and the City Auditor shall endorse on each of said bonds the certificate required by law. Said bonds shall be substantially in the following form, to—wit: -3- UNITED STATES OF AME LICA STATE OF UTAH COUNTY OF SALT LAKE SALT LAKE CITY TAX ANTICIPATION BOND SERIES OF JANUARY 1, 1945 No. $50,000.00 KNOW ALL MN BY THESE PRESENTS: That Salt Lake City, in the County of Salt Lake and State of Utah, hereby acknowledges itself to be indebted and for value received hereby promises to pay to the bearer hereof the sum of FIFTY THOUSAND DOLLARS ($50,000.00) in such funds as are, on the date of payment of the principal of and the in- terest on this bond, legal tender for debts due the United States of America, on the first nay of Januaiy, 1946, at The National City Bank of New York, in Now York City, New York, with interest thereon at the rate of five tenths of one per cent (5/10 of 15) per annum, from date until paid, payable semi- annually in like money on July 1, 1945, and on January 1, 1946, said interest to maturity bein; represented by interest coupons hereto attached. This bond is one of a series of twenty-five (25) bonds of like tenor and effect, numbered from one (1) to twenty-five (25), both inclusive, and known es "Salt Lake City Tax Anticipation Ponds, Series of January 1, 1945," for the aggregate sum of One Million Two Hundred and Fifty Thousand Dollars (51,250,000), issued pursuant to Section 15-B-6, Utah Code Annotated, 1943. The City of Salt Lake City sha:L levy in the year 1945 a sufficient tax to pay the principal and interest on this band as the same shall fall due, and this bond is issued in anticipation of such taxes for the year 1945. It is hereby certified, recited and declared that the entire indebt- edness of said City hereby incurred is not in excess of the taxes of said City to be levied for the current year 1945, .and. that t;eid indebtedness was and is contracted for the purpose for which said taxes are levied. It is hereby certified, recited and declared that all conditions, acts end 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 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 a.ccordin to its terms. IN ','ITNECS ,EEREOF, Salt Lake City has caused this . nd to be signed by its Mayor and its City Treasurer, its corporat- peal he here- unto affixed, and attested by the City Recorder, and an . coupons to bear the facsimile signature of the City Treasurer as of t day of January, A.D. 1945. Mayor, Lake City, Utah. ' City Treasurer, Salt Lu:>e City, Utah� ATTESST:4,�y -). 7' `Aj City Recorder, Salt Lake Cit Utah. (SAL) -4- To each of said bonds shall be attached a coupon for each install- ment of interest contemplated by said bond, the coupon due July 1, 1945, to be numbered one (1), and the coupon due January 1, 1946, to be numbered two (2), with the several dates of payment and number of bond, ana shall bear the facsimile signature of the City Treasurer. Said coupons shall be in substantially the following form, to-wit: (Coupon) No. 125.00 July, On the first day of January, 194, Salt Lake City, in Salt Lake County, State of Utah, will pay to the bearer hereof the sum of One Hundred Twenty-five and No/100 Dollars (t"s125.00) in such funds as are, on the date of payment hereof, legea tender for debts due the United States of America, at The National City Bank of New York, in New York City, Nea York, being six months, interest then due on its Tax Anticipation Bond, Series of January 1, 1945. (Facsimile Signature) City Treasurer, Salt Lake City, Utah Bond No. There shall be endoased on each of said bonds the following City Auditor's Certificate: City Auditor's Certificate "I hereby certify that this bond is within the lawful debt limit of Salt Lake City, Utah, and is issued according to law. City Auditor, Salt Lake City, Utah."' Section 2. All the covenants, statements, representations and agreements contained in said bonds are hereby adopted as covenants, state- ments, representations, agreements and promises of Salt Lake City, Utah. Section 3. The Mayor and the City Treasurer of halt Lake City are hereby authorized and directed to sign and execute said bonds and the City Lecorder is hereby authorized and directed to attest had affix the seal of Salt Lake City to each of said bonds, and the coupons attached to said bonds shall he signed by the facsimile signature of the City Treasurer, and the City Auditor is authorized ant directed to place upon said bonds the cer- tificate in the manner and form set forth above, and the acts of the said —5— Mayor, said City Treasurer, said City Recorder dnd said City 1.uditor in so doing are and shall be the act and deed of Salt Lake City. Section 4. That the Board of City Commissioners shall levy in the year 1945 a sufficient tax to pay the principal and .interest on said bonds as the same shall fall due, and for the payment of said bonds the full faith, credit and. taxing power of Salt Sake City are hereby irrevocably pledged and the Board of City Commissioners hereby covenants with the holders of said bonds to levy in the year 1945 sufficient taxes to provide for the payment of the principal and interest of said bonds. Section 5. The First Security Trust Company of Salt Lake City, Utah, having offered to purchase said bonds at a price satisfactory to this Board of City Commissioners, which offer :gas the best and most advantageous received for the purchase of mid bonds, and which offer has heretofore been accepted by this City Commission, the acceptance of said offer be and the same is hereby ratified and confirmed, and the City Treasurer is hereby auth- orized and instructed to deliver said One Million Two Hundred and Fifty Thousand Dollars (U1,250,000) Tax Anticipation Bonds to the purchasers thereof as and when the said bonds shall be and are legally issued and delivered, upon receipt of the purchase price therefor. Section 6. The City Recorder is hereby instructed and directed to cause copy of this ordinance to be published immediately in one issue of the Salt Lake Telegram , a daily newspaper of general circulation in and printed and published in Salt Lake City, Utah. Section 7. That an emergency is hereby declared and in the opinion of the Board of City Commissioners because of the necessity for funds to meet the current expenses of said City it is hecessary to the peace, health -6- and safety of the inhabitants of halt Lake City that this ordinance shall take effect at once. Section 8. This ordinance shall take effect upon the first publi- cation. Passed by the Board of City Commissioners of Salt L e City, Utah this 6th day of December, A.D., 1944. i 47J i( f/ AKyor, Salt City, ah ATTEST: / • City Recorder, Salt Lake City, Utah. (SEAL) Bill No. 51 Published December 8th , 1944. -7- Mr. Glade moved, seconded by Commissioner Matheson , that the ordinance be adopted, which motion carried, on the following unanimous roll call vote: D. h. Affleck Commissioner "Aye" John B. Matheson Commissioner "Aye" qr `3 t, L. C. Romney Commissioner "Aye" f - Fred Tedesco1. mi. mnissioner ,,,,v,Ayy' c ,, I ,4:4 Earl J. Glade, May ►• .nissioner , A W =.r} t" C"` -O' i� a[ ., a ** - ayor, S' t'Ey,t t ^• 1. a m ,6 Y;. a e4, 7 0 aA'TEST: i • a. . r'. 4. jowyd6 ,.{ City Recorder, Salt Lake City, Ut =" e" 1 i'' {-SEAL) -&- Proof of 11ub1kattnu %%niteD Otnteo of Amerira STATE OF UTAH ss. COUNTY OF SALT LAKE S,coMM_'oR being first duly sworn, deposes and says, that he is the Principal Clerk of the SALT LAKE TELEGRAM,a newspaper,published in Salt Lake City, Salt Lake County, State of Utah. That the Notice ..N ORDINANCE—BILL ;51 of which a copy is hereto attached,was first published in said newspaper in its issue dated the f9th DEC4 day of CE:Il3 T{ , 19 , and was published in each daily issue of said newspaper, on asGl t Ekth. for thereafter, the full period of 1 TIME the last publication thereof being in the issue dated the flux day of 93 M. A. D. l9 44 Subscribed and sworn to before me this 9.th day of 1JEC'.;:.ISER ,A.D. 19 44 Notary Public My commission expires 14ov.25,1945 Advertising fee S z >, „ 0 E 3... . s. 4. o -• ,,-, -.,- k. 1 r4 i 14t ) , 0 Tzt .1 IA Fa4 1 . w 1'. 0 it. ...=- 0 la \ r=4 g14 '),,' AN ORDINANCE its corporate seal to be hereunto affixed, AN ORDINANCE PROVIDING FOR THE and attested by the City Recorder,and ISSUANCE AND SALE OF ONE MIL- the annexed coupons to bear the fac- LION TWO HUNDRED AND FIFTY simile signature of the City Treasurer, THOUSAND DOLLARS ($1,250,000) as Of the first day of January,A.D. TAX ANTICIPATION BONDS OF 1945. SALT LAKE CITY, UTAH, SERIES EARL J.GLADE, OF JANUARY 1,1945. Mayor, Salt Lake City, Utah. WHEREAS,there is an immediate and MILTON E. LIPMAN, pressing need for the raising of funds City Treasurer,Salt Lake City. in the amount of One Million Two Utah. Hundred and Fifty Thousand Dollars ATTEST: ($1,250,000)for the purpose of meeting IRMA F.EITHER, the for turrenhe t expe1945nses until the fexitpayment0 (SEAL) Lake City City Recorder,Salt Lake City,Utah. the takes for the year 1945, and To each of said bonds shall be at- WHEREAS,the estimated tax revenues (,ached a coupon for each installment of Salt Lake City for the year 1945 of interest contemplated by said bond, Will aggregate Two Million,Two Hun- the coupon due July 1,1945,to be num- deed Ninety-six Thousand, Five Hun- beret! o a (I), and the coupon due dred Twenty-nine Dollars($2,298,529.00) January 1, 1948, to be numbered two and the total'estimated revenue from (2),with the several dates of payment all sources Will aggregate Four Million, and number of bond. and shall bear One Hundred.Ninety-three Thousand. the facsimile signature of the City Five Hnndredr,'- ..y-nine Dollars)$4- Treasurer.Said coupons shall be in sub- 193,529.00), ati.. - etantially the following form,to-wit: WHEREAS;;;. One Million (Coupon) Two Hund 1 e 1 usand Do]- No $125.00 lays ($1250 4 �, ow to be July, raised m "1, 04 revenueOn the first day of January, 194_, as estimated •Alf? 1945, Salt Lake City, in Salt Lake County, DAINED . T i ."BE IT OR- State of Utah, will pay to the bearer DAINE BY .r OF COMMIS- hereof the sum f One Hundred Twen- SIONERS OF a ', ,, CITY,UTAH, ty-flue and No/100 Dollars ($125.00) Section.1.Thae-i.I Salt Lake City, insuch funds as are, on the date of Utah, ferns of Saida of meeting cur- pyment hereof, legal tender for debts rent expens't said City for the year due the United States Of America. t 1945 ftthe pa_-tr)t Of taxes for The National City Bank of New York, the year 19 hall`-. the sum of in New York City, New York, being One Millie -fh':17 r- and Fifty ix months' interest then due n its Th t p' (M 0' ` 1 and for Tax Anticipation Bond,Series of Jan- that pr. !r -..f such in- uary 1, 1945 debts -.« d.3 ,i y-flue(25) (Facsimile Signature) bond(25/Cr'a . , #�u i` denomina-ve City Treasurer Salt Lake City,Utah. Ennis' L `..f' leap($50000) Bond NO bear date of There shall be endorsed on each of Jan,'ii i,.,,irr : L;.-''11 be due and said bonds the following City Auditor's pay - Baring interest Certificate: at s .,e' 'fir'' s of One City Auditor's Certificate cent '-< '--r annum,end Jan- ithin the lawful debt limit Of Salt uary 1 19'18 th principal and Interest Lake City,Utah,and Ia Issuetl So- beingpayyable at The National City cording to law, Bank of We d 6 Wall Street,New York City, .Said bonds shell City Auditor,Salt Lake City,Utah." be designate '" eke City Tax An- ticlpatio,Bo ries of January 1, Section 2.All the'cove ants, state- less." Said di'''ahan be signed by meats,representations and agreements the Mayor anal by the City Treasurer contained In said bonds are hereby and attested by the City Recorder under adopted as covenants,statements,rep- the seal of the City,and the coupons resentations, agreements and promises attached shall be signed with the litho- of Salt Lake City, Utah. graphed or engraved facsimile sign. Section 3.The Mayor and the City turn of the City Treasurer,Said bonds Treasurer of Salt Lake City are hereby i shall be registered In a book kept by authorized and directed to sign and the City Auditor for that purpose and execute said bonds and the City Re-I the City Auditor shall endorse on each corder 1s hereby authorized and directed of said bonds the certificate required to attest and affix the seal of Salt Lake by law.Said bonds shall be substan- City to each of said bonds, and the tally In the following form.to-wit: coupons attached to said bonds shall UNITED STATES OF AMERICA be signed by the facsimile signature of STATE OF UTAH the City Treasurer,and the City Auditor COUNTY OF SALT LAKE is authorized and directed to place SALT LAKE CITY TAX ANTICIPATION neon said bonds the certificate In the BOND,SERIES OF JANUARY 1,1945 manner and form set forth above,and No $50,000.00 the acts of the said Mayor, said City KNOW ALL MEN BY THESE PRES- Treasurer,said City Recorder and said ENTS: City Auditor In so doing are and shall That Salt Lake City, in the County be the act and deed of Salt Lake City. of Salt Lake and State Of Utah,hereby Section 4.That the Board of City acknowledges itself to be indebted and Commissioners shall levy in the year Ior value received hereby promises to 1945 a sufficient tax to pay the prin- t/ay to the bearer hereof the sum of cipal and interest on said bonds as FIFTY THOUSAND DOLLARS the same shall fall due, and for the ($50,000.001 payment of said bonds the full faith, in such funds as e,on the date of credit and taxing power of Salt Lake inte• rresttonf this principale nd,lg l tender for City Board of Co Commicably ssioners hie eby legal City d debts due the dayUnited Status rofy America, covenants with the hear 1 of f said onthe firsa day of January.N 1948, at bondsiensto levy r the year the payment et The National City New of New York. dent to xrs tosi alo ds for said to New York City.New York,ffive-tenths with in- Of the principal and interest of said ofrest thereon at the rate of 1%)per an- bonds. of one per cent (5/10 aid, per a Section 5.The Lake Security Trust num, from date untilm et payable ing oany of Salt Lrche Ca ty.said Utah,hay- semiannually don In likey mo946.on Julyla L Ing price satisfactoryto pr to said bondsd at 1945,andat rtyubei 1.g said Idtey a pricemsie to this Boaoffer of et to maturity beret represented by Ciey beet en Commissioners, which offer we-''. interest bend is o hereto series of twenty. the defo and most se of a id bonds. re- This)bo d of li a series ofrffc reined for the offer purchase said nun bet r of a tenor and effect, and which offer hasheretofore beene numbered from one(1)and twenty-five ve accepted a said City Commission,hthe "Sai both inclusive,Tax Anticipation Bo aR c ere y ao seed offer bc antl tee same 'erie Lake Cianu Tax19 '" orBonds, tyy ratified d r confirmed. and Series of O 1,Mill for the an- the City Treasurer is hereby authorized drednte sum of One Million Two Hue- and Two instructed Hundred danv¢r fty One and 250.0 0). Fifty Tpurs an Dollars tion ]ton Two .00and o Anticipation Thousan 15-n-a. Issued pu n do Section Boers f tL250.000) ernx oc0011 15Tile t Code Annotated,shall Bonds to the purchasers thereof as and The City of Salt Lake City levy when the said and delivered,ie Ue pon are Ifr the y r ipal asufficientnteres tax ,legally lathed end erref r- bon the the ram and interest tarls( e,this F celet ofro the ur re therefor e bond the floe shall fall due. antl Section 8.The City Recorder is hereby this bond is issued in anticipation of instructed and directed to causecopy taxes for the.year 1945. O Off this ordinance to be published Im- such It 1s hereby certified, recited en,I mediately in One Issue Of The Salt Lake declared that the entire indebtedness I Telegram.a daily newspaper r of general Of said City hereby incurred Is not In l bed iion in and Printed and pub- • s offor the taxes oa said yea Cityr 154 to and 171 Section 7.That an en Salt.Lake Im}ergenah. cy Is here- that ids the current was and , i by declared and In theopinion of the the.( Id r the pdrlesSurpos h is con- Board of City Commis,slners because traded for the purpose for which said takes are envied. of the necessity for fonds to meet the It d hereby coed.recited and end current ex pen th of said eCityxit it d thanes et all oothe validity acts t necessary h0 the pace. feh a e things essential hnto the ned a i this yty sot the inhabitants dinan of Salt Lake bond e,, have happened r and have City that this ordinance shall take been done,and that every requirement effect at once. of law affecting the issue thereof has Section n.This s ordinance ban take beennduly within complied claim and that r e[Passed upon the first ofblitytCo bond prescribed ebyry debt antl other Passed bf tit Board Cf Cy, this andwfsa by the Constitutionhat stoners of Salt Lake City, Utah, this and Laws of said State,and that the 6th day December,GLADE. E D.,1944. full faith and credit of said ent Lake EARL J. art a. City are hereby irrevocably of t pledged to Mayor,Salt Lake City,Utah. the interest payment of the according ATTIRMASF: and Interest of this bond accottling to City RecordA F. er,Salt Lake City,Utah. NER, Its terms. Iy WITNESS this t Salt Laed (SEAL) City has Mayor this bond to r signed Bill ish.51. by its Mayor and its City Treasurer, Published December 8th,line. -ORUI}-1 vtw. ^oFP .. ROLL CALL '° ��" l VOTING Aye Nay Salt Lake City;'..3Fah, December btb 1944 Affleck I move that the ordinance be passed. Matheson . . Romney Tedesco - L Mr. Chairman . . CAN O INANCE Result 'ts COS, ,te seal to be hereunto affixed, AN ORDINANCE Puu .MAG Fuss THE and attested by the City Recorder,and ISSUANCE AND SALE OF ONE MIL- the annexed coupons to bear the Jac- LION TWO HUNDRED AND FIFTY simile signature of the City Treasurer, THOUSAND DOLLARS ($1,250,000) RS of the first day of January, A. D. TAX ANTICIPATION BONDS OF 1945. SALT LAKE CITY, UTAH, SERIES EARL J.GLADE OF JANUARY 1,1945, Mayor, Salt Lake City, Utah, 'WHEREAS,there Is an immediate and MILTON E. LIPMAN, prreessing need for the raising of funds City Treasurer,Salt Lake City, in the amount of One Million Two Utah. lidhdred and Fifty Thousand Dollars ATTEST: )$]o25 ($k250,000)for the purpose of meeting IRMA F.SITNER. GA current expenses of Salt Lake City City Recorder,Salt Lake City,Utah, for the year 1945 until the payment of (SEAL) the taxes for the year 1945, end To each of said bonds shall be at- WHEREAS,the estimated tax revenues taehed coupon for each installment Of Salt Lake City for the year 1945 of interest contemplated by Said bond, ]] aggregate Two Million,Two Hun- the coupon due July 1,1945,to be num- rdtl Ninety-six Thousand, Five Hun- breed a (1), and the coupon due drdd Twenty-nine Dollars($2,296,529.00) January 1, 1946, to be numbered two and the total estimated revenue from (2),with the several dates of payment all sources Will aggregate Four Million, and number of bond, and shall bear One Hundred Ninety-three Thousand, the Ile signature of the City Five Hundred Twenty-nine Dollars($4- Treasurer. Said coupons shall be in sub- , 193,529,00), and stantially the following form,to-wit: WHEREAS, the sum of One Million (Coupon) Two Hundred and Fifty Thousand Doi- No $125.00 late ($1,250,000) required now to be July, raised is not In excess of said revenue On the first day of January, 194.,, as estimated for the year 1945, Salt Lake City, fn Salt Lake County, NOW, THEREFORE, BE IT OR- State of Utah,will pay to the bearer DAINED BY THE BOARD OF COMMIS• hereof the sum of One Hundred Twen- SIGNERS OF SALT LAKE CITY,UTAH: ty-five and N0,100 Doate ($ ) ' Section 1.That said Salt Lake City, in such funds as are, n the dateate oI Utah,for the purpose of meeting cur- payment hereof,legal tender for debts rent expenses of said City for the Year due the United States of America, at i 1945 until the Payment of taxes for The National City Bank of New York, the year 1905,shall borrow the sum of in New York City, New York, being One Million Two Hundred and Fifty six months' Interest then due on Its e Thousand Dollars ( ,000) and for Tax Anticipation Bond,Series of Jan- that purpose m evidence of such in- vary 1, 1945. debtednese shall issue twenty-five(25) (Facsimile Signature) bonds,numbers one(1)to twenty-five Lion of Fifty Thousand Dolls h inclusive.In the ssno($50000) BondltNoTreaeurer,Salt Lake City,Utah. each. Said bonds shall bear date of There shall be endorsed on each of January 1,1945,and shall be due d said bonds the following City Auditor's Payable January 1,1946.bearing Interest Certificate: at the rate of Iive-tenths of one per City Auditor's Certificate ant(5/10 of 1%)per annum,payable "I hereby certify that this bond is se miannually on July 1,1945,and Jan- within the lawful debt limit of Salt uary 1,1946,both principal and Interest Lake City,Utah,and is issued no. being payable at The National City cording to law. Bank of New York,55 Wall Street,New York City,New York.Said bonds shall City Auditor,Salt Lake City,Utah." be designated"Salt Lake City Tax An- ticipation Bonds,Series of January 1, Section 2.All the covenants, state- 1945." Said bonds shall be signed by meats,representations and agreements the Mayor and by the City Treasurer contained in said bonds are hereby and attested by the City Recorder under adopted as covenants,statements,rep- , t he seal of the City,and the coupons resentatIons, agreements and promises ( attached shall be signed with the litho- of Salt Lake City, Utah. graphed or engraved facsimile signa- Section 3,The Mayor and the City • ture of the City Treasurer.Said bonds Treasurer of Salt Lake Getty are hereby hall be registered in a book kept by authorized and directed to sign and the City Auditor for that purpose and execute said bonds and the City Re- the City Auditor shall endorse on each corder is hereby authorized and directed of said bonds the certificate required to attest and affix the seal of Salt Lake I by law. Said bonds shall be substan- City to each of said bonds, and the Bally in the following form.to-wit: coupons attached to said bonds shall UNITED STATES OF AMERICA be signed by the facsimile signature of STATE OF UTAH the City Treasurer,and the City Auditor COUNTY OF SALT LAKE la authorized end directed to place SALT LAKE CITY TAX ANTICIPATION upon said bonds the certificate In the BOND,SERIES OF JANUARY 1,1945 manner and form set forth above,and No $50,009.00 the acts of the said Mayor, said City KNOW ALL MEN BY THESE PRES- Treasurer,said City Recorder and said ENTS: City Auditor in so doing are and shall That.Salt Lake City,In the County be the act and deed of Salt Lake City. of Salt Lake and State of Utah,hereby Section 4.That the Board of City acknowledges itself to be indebted and Commissioners shall levy in the year for value received hereby promises to 1945 a sufficient tax to said the prin- pay to the bearer hereof the sum of cipal and Interest onid bonds as FIFTY THOUSAND DOLLARS the same shall fall due, and for the ($50,000.00) payment of said bonds the full faith, In such funds as on the date of credit and taxing power of Salt Lake payment of the principal of and the City are hereby irrevocably pledged and interest on this bond,legal tender for the Board of City Commissioners hereby debts due the United States of America, covenants with the holders of said on the first day ofJanuary, 1946, at bonds to levy In the y-a r 1945 suffi- The National City Bank of Ness York, dent taxes to provide for the payment In New York City,New York,with in- of the principal and Interest of said terest thereon at the rate of five-tenths bonds. of one per cent(5/10 of 1%)per an- Section 5.The First Security Trust num, from date until paid, payable Company of Salt Lake City.Utah,hay- • tannually in like money on July 1, ing offered to purchase said bonds at 1945,and on January 1,1946.said inter- a prim satisfactory to this Board of eat to maturity being represented by City Commissioners, which offer was- interest coupons hereto attached. the best and most advantageous re- This bond is one of a series of twenty- ceded for the purchase of said bonds. five(251 bonds of like tenor and effect, and which offer has heretofore been numbered from one(1)to twenty-five accepted by this City Commission,the (251. both inclusive, t and known s acceptance of said offer be and the same "Salt Lake Clty Tax Anticipation Bends, is hereby ratified and confirmed. and Series of January 1,1945,"for the ag- the City Treasurer is hereby authorized grepote sum of One Million Two Hun- and Instructed to deliver said One Mil- dred and Fifty Thousand Dollars (SI,- lion Two Hundred and Fifty Thousand 250.000), Issued pursuant to Section Dollars ($1.250,000):' Tax Anticipation 15-0-6,Utah Code Annotated.1943. Bonds to the purchasers thereof as and The City of Salt Lake City shall-levy when the said bonds shall be and are In the year 1945 a sufficient tax to legally Issued and delivered. upon re- pay the principal and interest on this celpt of the purchase prier therefor. bond as the same shall fall due,and Section 6.The City Recorder is hereby this bond Is issued in anticipation of instructed and directed to cause Copy such taxes for the year 1945. of this ordinance to be published lm- It is hereby certified, recited and mediately In one Issue of The Salt Lake declared that the entire indebtedness Telegram.a dailyw e daily n senpee of general of said City hereby incurred is not in circulation in and printed and pnb- xcess of the taxes of said City to be liahed in Salt Lake City,Utah. levied for the current year 1945, and Section 7.That en ernergenCY is here- that said indebtedness was and is con- by declared and In the opinion of the traded for the purpose for which said Board of City Commissioners because taxes are levied. of the nec essity for funds to meet the It is hereby certified.recited and de- current expenses of said City It Is elated that all conditions, acts and necessary to the peace, health and things essential to the Validity of this safety of the Inhabitants of Salt Lake and• exist, have happened have City that this ordinance shall take been done.and-that every requirement effect at once. of law affecting the issue thereof has Section g.This ordinance shall take been duly complied with,and that this effect upon the first publication. bond is within every debt and other Passed by the Board of City Commis- limit prescribed by the Constitution sioners of Salt Lake City, Utah, this and Laws of said State,and that the 6th day of December,A.D.,1944. full faith and credit of said Salt Lake EARL J. GLADE. City are hereby Irrevocably Pledged to Mayor.Salt Lake City,Utah. the punctual payment of the principal ATTEST: and interest of this bond according to IRMA F.BITER. t Its terms. Lake City,Utah. IN WITNESS WHEREOF. Salt Lake (SEAL) City has caused this bond to be signed Bill No.51. by Its Mayor and Its City Treasurer, Published December Oth,1944.