56 of 1945 - Providing for issuance and sale of $1,250,000.00 Tax Anticipation Bonds, Series of January 1, 1946 ROLL
VOTING AYE NAY Salt Lake City,Utah, Nay. 28
Affleck
Xvprocxxx . . .
Matheson . . . 1 move that the ordinance bd passed.
Romney
Tedesco . . . .
Mr.Chairman . .
Result . . . .
Mayor
KY
P lby the 13'oardrmis urs f Salt Lake City, Utah, -
City Recorder
MayOr
Rec.121 5M I-2-42
N er , ig?f, PAC.; 564
The Tioere of Cohmi*stoncrs of scit Lzkf, city .,t ia 1.*,:;ult.r session oo
_ c-L, 16:00 oicJocy-
tn the mmlsr hoetinp: hlace. The rvatinL WE c*Alet to croer Ozejor Glnde.
Oo roll call -L,e followd.h.6 members sacsdreoent:
D. Affleck ComAssioner of 73ter fiicTlp
lieterworkN
John B. mnthc:ua Co .cirziencr of itreet Th-
2re7enents
L. G. No.ane.y Go,orie,iennr of Public brfet,
Fred Tedesco Gonoir.riorer rh' Parks O. Puklic i'ro,erty
Earl J. Glace, Mver Go;rnicsioner ef c iffrIrs
sd
Flornce, GneiPr,c
Also oresent: Iris- T. Pt or, Cd.Jm Fecor1nr
* * * * * * * * * * * * * * * * * *
lie'OPTS OF GT. 1
* * * * * * * * * * * * * * * *
oRnTNJ-,]rFiP Pidu fOT55'-.
BTU-, NO. p6L for rn ordi.nnnoe nrcvAeing for thr en6 SS'-- of One
MiTlioo Two Hundred ano Fift4 Ihousnno Col lr- ( 1.,250,(loo) Tec- trntiettetion
hooJc of L511 Lae City, Tits ., Serino of Jon"'": 1, 1946, introduced 113
Co,rmni, col , wa, ne 1,110
AN OF.T.ji/L4CE
OBDIN.ANCE PROVIIIA1 FOh ilL ISONi.u.dT a Si II OF ON Till
FIFTY THOJSMif hOLLIF (C1,250,000) Tel ,Uffil.IPLTT2d BONDS OF SALT LIeS
CITY, Willi, HTBTF:. OF TAvli.do 1, 19/C.
thdra is ,,, immedite ann ressin, lined for th, rrisiu of
funds in the amount of One Million Two Hundred and Fift:v Thousand Dollars
(Pl.,250,000) for the purpose of meeting the curr,nt ex-ienes ni Salt Lake
City for the year 19/-C until the psyment of ths tee' fur the -v:er and
WeilHqu'l, the estimated too' revenue, of Sal: Lae City for nor
1946 will atuTegate Two Million, Five Hundred Thousand, Two Hundred
Seventy-four & 11/100 (0,500,274.11) Dollars and the total
..
estimated revenue from all ,-,”rees will a,zrauate Four Million, Six Hundred
five Thousand, Two Hundred Seventy-three & 27/100 ($4,605,273.27) Dollars
MEW/LS, the sum of One 111.111.on Mc dun:rad Fifty Thousand
Dollars ('J,',)50,000) re-,uired now to he raised is not in evecss of said re-
venue Cr ecttic led for the year 1946,
SUFREFORI, Bi TT ORT/e.T.F.BD OF SALT
L4F CITY, UTH:
Section 1. r-,L,t caid Sal T 1J0)-( CIA,, UtCM, for TOO purpose of
' meeting current expe:nse:, of said City for the yeer ial6 unTil Inc nT,;,rient of
teaun for the year 194.6, shnll horrov, the cum of One Million TT, dundred and
Fi6ty Thousand Dollure ( i,F-50,000) tnT c'oc tln T _urne,- ne evidence ol such
ineeladness stall issue t:Tenty-l'ive (25) bond , numbers one (1) to tv.ent-,--five
(25), botb inclusive, in the denomination of ',lift: itousand Dollars (lV15.0,000)
each. Sale bones shal1 bear date of Peru-er 1, 194.4., and shell be due and
payable January 1, 1947, bearinu interest at llie rate of five-tentts of one
ner rent (5/10 of ner vrnum, seei-euuuallv on Jul:v 1, 191.6, nud
Jenwrz' 1947, both prircionl and ,uterest het 2ayalie at The PILtionni
Oil' Bard': of S e Yon:, N I Street, 14ei -ior City, A, honds
shall be designated n1t1.1, Lake City Tan erics of
cl;
Jynn:ry 1, 1946." Said bons, shrll hn si,2ned ;,;layor and b tho City
Treasurer ana. atUaotcd hy 1.be C.ity .1i,cocOar snde-r thr set] of the Ci-*, and
tha coupons rttrchod sbril ho qi7,,-(1 Li,c, litnerabrd or onifraved facr4mile
sianaturo of the City Troasnrer. bon 1--.._:Arterop ,1 a book
(-ant by tbo City iwc.itor TOT' tt—t ,-.2n,-1nro pun tte PilUitOr eadorsc ou
each of orio hone.. the rort; 5 rnt Ce b7 Sol(, hood-, sb' Li be in
substantially thy fo)lowiesT fore)
friw
UN:rino STATS OF AfdfRICA
STTE OF UTAH
COUNTY OF SALT LAKE;
SALT LAKE CITY TPx Amarumom BoND
sERIEs 01 JANUARY 1, 1946
No. 0,mo.on
KNOW ALL 'IN BY THESE orf"SwW2S:
That Salt, Lake City, in the County of Salt LaXe and State of Utah,
bereb6 soknotdedkes itself to he indebted and for value received nereby
orowioes to pay to the bearer hereof the FlIU. of
FIFTY THOUSLND NOLLAffS ( 50,000.00)
in such funds En are, on fbe date of itm:cent of the :TiRCi)L1 of PTV, the interest
on thiz bond, 1va1 tender for debts due the United States of America, on the
first day of January, 19/,7, nt The National City Bank of Or York, in Nets York
City, See' York, with interest tin -on at, the rade of five-tenths of one per
cent (5/10 of 1%) per annum, from date until paid, payable semi-annually in like
money on July 1., 1946, and On Janusry 1, 1947, said interoot to maturity being
reeresented by interest coupons hereto attachcd.
Thin bond in; ono of a series of tmenty-five (25) bonds of like tenor
and effect, numbered from one (1) to froeuty-five (25), both ifol"iv,', coo kilo")
PS "Salt Lake City Tax Anticipation Bonds, Series of Jarnary 1, 1946," for the
aggregate sum of One Million Tuo Hundred and Fifty Thousand Doll-re ( 1,250,000),
issued pursuant to Section 15-P-6, Utaf, Code Annotated 190.
The City of sEqt, Lake City shall levy in the year 1946 a sufficient
tax to pay the principal and interest oa this bond so the same chili fell die,
are this bond in issued in anticipation of such taxes for the year 1946.
It is hereby certified, re-cited and declared thot the entire indebted-
ness of said City- hereby incurred is not in excess of the tares of said City to
he levied for the current, yoar 1946, and tint said indebtedneas was and is con-
tracted for the purdose for which said taxes are levied.
It is hereby certified, recited and declared that all conditions, acts
and thinks essential to the validity of this bond exist, have happened and have
been done, and that every reduiroment of law affecting the issue thereof has been
duly complied with, and that this bond is within, every debt and other limit, pros-
cribed 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 pay-
went of the principal and interest of thin bond according to its terms.
IN WITNESS WHEREOF, Salt, Lake City has caused thin bond to be signed by
its Mayor and its City Treasurer, its corporate seal to be hereunto affixed, and
attested by the City Recorder, pnd the annexed coupons to bear the fecsiA.dle
signature of the City Treasurer, as of the 1st day of Janua y, A -. 1946.
Mayor, .t Lake Cf.t., Utah
. y Treasurer, Salt lake City, Utah
ATIa7006
City Recorder, Salt Lake City, Utah.
•
(SEAL)
Y
To each of said bonds shall he attached a coupon for each installment
of interest contemplated by said bond, the coupon due July 1, 1946, to be
numbered one (1), and the coupon due January 1, 1947, to be numbered two (2),
with. the several dates of payment and number of bond, and shall bear tho fac-
simile signature of the City Treasurer. Said coic on,e shall be in substantially
the following form, to-wit:
(Coupon)
No. A125.O0
July,
On the first, day of January, 194 , Sel t Lake City, in Sat Lake
Count,, State of Utah, will pay to the bearer hereof the sum of One Hundred
Twenty-five end No/100 Dollars (5125.00) in such funds as are, on the date of
payment hereof, legal tender for debts due the United States of America, at
The National City Bank of New York, in New York City, New York, being six
months' interest then due on its Tax Anticipation Bond, Series of January 1,
1946.
(Facsimile Signature)
City Treasurer, Salt Lake City, Utah
Bond No.
There shall be endorsed 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 agree-
wants contained in said bonds are hereby adopted as covenants, statements,
representations, agreements and promises of Salt Lace City, Utah.
Section 3. The Mayor end the City Treasurer of Salt Lake City are
hereby authorized and directed to sign and execute said bonds and the City
Recorder is hereby authorized and directed to attest and 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 and directed to place upon said bonds the certificate in the
manner and form set forth above, and the acts of the said Mayor, said City-
Treasurer, said City Recorder and said City Auditor in so doing are and shall
be the act and deed of Salt Lake City.
-5-
Section !-. That the Board of City Commi.scioners shell levy in the
year 1946 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 tsniny, power of Salt Lake City are nereby irrevocably pledged a.ne the
Board of City Commissioners hereby covenants with i.ec holders of said bonds to
levy in the year 1946 sufficient taxes to provide for the payment of the principal
end interest of said bond:=,.
Section 5. The first Security Trust Company and associates of Salt Lake
City, Utah, having offered to purchase said bonds at a price s_:tiefactori to this
Boar. of City Commissioners, which offer sac the best end most edvente.geous re—
ceived for the purchase of said bonds, and weird offer has heretofore been ac—
cepted by this City Commission, the acceptance of said offer be and the same is
hereby ratified and confirmed, and the Cit; Treasurer is hereby authorized and
instructed to deliver said One Million Two rumored End Fifty Thousand Rollers
(Q',51,250,000) Tax Anticipation Bonds to the eerchneews thereof as and when the
said bonds shall be and are legally issued and delivered, noon receipt of the
purchase price therefor.
Section 6. The City Recorder is hereby instn,ated and directed to cause
copy of this or•ina.nce to be nnhlished immediately in one issue of the ._ Deseret
�^ News a daily newspaper of zoneral circulation in and ;;zinced and
published in Salt Lake City, Utah.
Section 7. That en 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 necessary to the peace, health and safety of
the inhabitants of Salt Lake City that, this ordinance shall take effect at once.
Section P. This ordinance shall teke effect upon the first. ebliceti.on.
Passed by the Board of City Commissioners of ;Salt Lake City, Utah, this
�!4ay of r A.D., 1`i45•
Mayor, Salt a.e City, Utah
ATTF /4
City' Recorder, Salt Lake City, Utah.
(SEAL)
Bill No. ,'
Published _ ___, 1945.
air
Mr. Gi ade moved, seconded by Commissioner Matheson
, that the ordinance be adopted, which motion carried, on the follow-
ing unanimous roll call vote:
D. A. Affleck Commissioner "Aye"
John B. Matheson Commissioner "Aye"
L. C. Romney Commissioner "Aye"
fir- ... Fred Tedesco Commissioner "Aye"
,r.`'`i r ;.' Earl J. Glade,.Mayor Commissioner 4 ye
citl f
�, 01 .afore,* • -•Age1.411
�'�!' -ker ity, -eh
'.1^,i ES y{��{ i
% Lie 7 #P " I, 0
. a'
..r ',:y Recorder, Salt Lake ity, Uta h 5 �� r3
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Affidavit of Publication
STATE OF UTAH,
ss
County of Salt Lake
C Legal Notices D M oekey
RDINAHOR N
A4 ORDINANCE OLISALE
• FOR THE ISSUANCE SALE
OF'ONE:MILLION HI7ND Being first duly sworn,deposes and says that he is the ad-
• REI? AND FIFTY .TrUSAND
DOLLARS ($1,260,000) TAAB AN-
TICIFATION BONDS OF SALT realising clerk of THE DESERET NEWS,a newspaper
LAKE CITY, UTAH, 9ERIEs OF
J" ERE ,WHAS there ern tmma(aIe published in Salt Lake City,Salt Lake County,in the State
and need-u Yor the-raising of-
fundss lot n the
amount of One Million F' .
) Two Hundred d•Fifty Thousand of Utah.
Dollars ($1,260;000) for the pur➢oef i
Y labeling the current expenses
Salt Lake City for the
the taxer 1940
nail the payment efor
i Tee year K That the advertisement
Ik WHEREAS, the'estimated' tax )
of Salt Lake City for the
year a1046 ill aggregate Two Mil- 'i d No GC
• Ilan, Five will
Thousand)Two i "Ordinance Bill 56
Hundred Seventy-Four&11.100 Dol- j
lore (n500,274.11).and the ototal ,
will
estimated revenue from I Salt Lake City Corporation
will ed re to Four Mailllos sources
{ Hundred Flve Thousand,Two Hun-
dred Seven1Y-tlnve,& 97-/00 Dol-
lars ($405,070.97) and
WHEREAS, the sum of One
Million Two Hundred and Fifty
Thousand Dollars ($1,260.000) -
nuired now to be raised re not
I n
I in a ease of said revenue ae esti-
{ mated Ibr the year 1946. - was published in said newspaper, in its issue dated, the
.. .a.RO1EI.THERFe-ORE,B.10.,IT,OR-
DAMNED BY THE BOAR OF toy` November 4'5
COMMISSIONERS OF SALT LAKE rJ Y{1 y f A.D, 19
CITY,UTAH.
Section i. That said Salt Lake `+.,.City, Utah, for expenses sespose of said
e l time
meeting foand was published
City for f axes for'the
until the
➢hashall ent borrtow a the cute efyear
One1M8-
lion Two Hundred and Fifty Thous-
and Dollars (61,960,000) d'for the last publication thereof being in the issue dated the
ihatt purpose evidence
oftwentY
indebtedness shall is
numbs„one a, 5
five (ab) non(, both inctpaiva. November
to twedenomi lion. 30th--_-day o f A.D. 19
'n the shall denomination 1 ya laryThO 1,
and Dollars (960,000) each,. Said
bonds shell bear date of nnpaya 1,
1948,and shall be due and payable
January 1, 1947; bearing interest
at the rate of five-tenths of one Advertising Clerk
Der cent emi- n1 1%) Per u , �_
payable -annually o July' L
prin and January 1,being
both
pt The
and interest being.payable
New
t The 5 alli Sire Hank of New
York, ar Wallr ' Sold New York /
City,.Haw York. Said bonds shell
be designated SaltLake City Tex
Anticipation Bonds. Series of Jan-
nary 1, 1948.s' Said.bonds shall be ..l ,
ned by the Mayor a d by the to before me this 1st day O
City Treasurer d attested by the • .7l;)
City Recorder and
the seal of the '
ii
City, and the eon➢one• attached A.D.19 45
shall be signed with the litho-
graphed orgraved facsimile ig-
natura f tbe City,Treasurer. Said
bonds shall be registered in a book
kept by the City Auditor for that
purpose
endorse on and
each of the said
d bonds Auditor kthe —'
art certificate a red by law. Sat
no a hallrbeuait substantially the )ki . Notary Public
following form to-wit:
5 )
UNITED STATES OF AMERICA
STATE OF UTAH
COUNY OF ALT LAKE
SALT LAKE CITY TAX
ANTICIPATION BOND
SERIES OF JANUARY 1, 1946
N KNOW ALL MEN BYe6 THESE
PRESENTS:
That Salt Lake City,in the coun-
ty-ty of hereby Salt Lake d k owtedges itself of be
in-
debted and for value received here-
by promisee to pay to the bearer
hereof the aunt of
FIFTY THOUSAND DOLLARS
(650,000.00)
to such funds as are, on the date
t Payment of the principal of and
the interest on this bond,legal ten-
der for debts due the United State.
1 America, on the first day of
- BankJanua rof New1047s at Yorke in Natio MeCity
ow l Yok
City, New`•York, with intermit
thereon at the rate f dive-tenths
of one per eent,(6.10ihs of 1 pct.)
Per m, from date until paid,
payable pout-annually in like money
July 1,1946,and'en January 1,
1947, said interest to maturity be-
ing reDreeented by interest coupon.
hereto attached,
The bond is of a aeries of
twenty-five(25)bonds of-like.tenor
and effect,numbered from one (1)
to twenty-five (06),both inclusive,
and known as'"Salt Lake City T.
Anticipation Bonds,Series of Jane-
- err I,1946,"for the aggregate sum
of.One Million Two Hundred and •
Fifty Thousand'Dollars($1,550,000),
issued pursuant to Section 16.6.6,
Utah Code Annotated, 1943.
The City of Salt Lake City,shall
levy in-the year 1946 a ufiicient
lax to pay the principal and inter-
et on this bond as the same hall
fall dtle,and tine bond is issued in
anticipation of such taxes for the
year 1046.
•It is hereby-certified,recited and
-declared-MO-The-attire d btednees
of said City hereby in0 rred is not
Ce
in a of the taxes of said City.
• to be levied for the current year
1998,and thatsaid indebtedness was 'ay ills principal and ihtereet on
and isntracted for arethe purpose'. •„end bonds as the same hall fall
for which said taxeslevied. d for the payment of said
It'r hreby ttfcd, died a "T, •re o•de the full faith din and
declend Clomps essential to the valldi'..,. ;_,I1e hereby irrevocably Pledged and
oe shave nee done.t ands h -'the Bord of City Commissioners
r d h be oleeand that n hereby cants its the holders
rems e of s been affecting of said bonds to levy in the year
Plied thereofwith,
has been t , -i 1048 sufficient taxes to provide
Plied oft, and th an thisb d; ....#•for the payment of the Driatlmal
thin ' debt d otherand 'tereet of said bonds.
Prescribed theConstitutionn,'/ Section 6. The First Security
Lax of said State. and that
Lafu S ih and creditr of said aust Cona 000r, and associate. of
Ledg City are,hereby last.. d;�•• Salte Lake City,Utah, having-atoffer-
Pledged to the and punctual pt➢m-• ea to purchase said bonds t price
the principal according
interest .'--- -i�- satisfactory ion e, this Board no City
bond a cS to its terms,':•'. Commissioner., most
offer w
IN'WITNESS ecaused
WHEREOF 6 thebet and mpu ease of dd
LakeCity bit this b received for.the purchase ofsaid
reed by Itss Mayor and 1 bonds, and which offer ibishere-
Treasurer, corporate City
hethe-City Recorder,
affixed, and ttea'-" offer be on, the same f said
the-City o bearet,and theoffer 0 d the a is.der the
coupons of to bear the faces City
and confirmed, t the
they E the City Treasure-s City Treasurer is hereby auerho aid
tb aye day t Lake
C y,'•.: 0 and instructed to deLLol laid
Mayor, Salt t Latt U One sa don Two Hundred d Fifty
City Treasurer, Salt LaaR t. Thousand Dollars (01,259,000)p0).Tax
Utah. Anticipation Bonds to the porches- '
ATTEST: a thereof as and when the said
City Recorder,Salt Lake City, bonds shall be d are legally is.
(SEAL) . sued and delivered,•unon receipt of
To to he e.11 nf gai upou fords a the purchase price therefor.
Section 8 The City Recorder
nteuaids bond,interest -f Oe eby tar -t d and directed-to-'
1948, to be numbered on8'd7111 old Copy P ed ides tobe.
the coupon d January,-If Ir-to ans published ear rely -
be numbered two(0), ith't s'eev- }newspaper
Pea et News.car daily
1 dates of payment and number in and
f gannet cold-in
ofa bond, and shall bear the mac a a printed and published-m
simile signature of the City Trees- leis Lake City,That
• aid pone shall be in Section 7. v emergency
oepcy
eubetantially coupons
following form, she by declared and inthe pin-
to-wit: ion of the Board of City Commis-
(Coupon) sion re because of the necessity for
No, E105.00 funds to meet the current expenses
July of said City it is necessary oto the
On the first Any of January, inhabitants]th of Sal Lake safety of
that
1946, Salt Lake City., Salt Ly tO tl,;a ordinance shall take„effect at
County, elate of Utah, will of no
the bears hereof the au One One..
I This ordinance shall
HDundred Twenty-Inns and Nds as take effect noon the lint publica-
gee, n t6e date In such funds Lion. -are, on the date•01 rdpayment here. Passed by the Board of City Corn-
the legal tender for der dueloners of Salt Lake City.Utah,
the National States f A t 28th day of November„AD.,
The NdtlonN City Bank f New!
York, New York City N EARL J. GLADE.
York, being z x A t re •
Mayor,Salt Lake City,then due Its Tax A W p 64 5 Utah
Bond, Seriesof January 1, 1846 r ,ATTEST:
(as u ear, S Si¢Lk t IRMAF.CITNER,
City Treasurer, Salt City Recorder,Salt
Lake City.Utah.
Utah;• (SEAL)Bo
B h•No, Bill No.66
There
t hall be endorsed. Published November loth.1945.
of said
dlt r'e Cneebllcate:fo- a
A
-City Auditor's Car:((i
"I'hereby certify lh', •
is within the lawful ,
Salt j.ake City Uta.,::i
sued according'Cite
to la-.:-
.4udlbr, 9 ty,
UtSection 2 All tea
etatemente, rep '
ae bond.
adopted
n,-tenants,
are herebyants,
etatemente, representation., agree-
ments and promises of Salt Lake
City,Utah,
Section 3.The Mayor and the City
Treasurer of Salt Lake City a
-.__.hereby authorized and directed to
sign and execute said bonds and
the City Recorder is
herebyy
au-
thorized and directed to attest and
• affix the seal of Salt Lake City to
each'of said bonds,and the coupons
attached to said bonds shall be
signed by the facatmtle steonture
of the City Treasurer,and the City
Auditor
is authorised and
direct-
ed
to place none laid bonds the
certificate in them and form
set forth above, andu the acts of
the said Mayor,said City Treasurer,
Said City.Recorder and a Id City
Auditor•the in t and dee of Salt
doing
eo are ehall
be Lab
City. -
Section 4, That the Beard of
City Commissioners shall levy in
, the year.1946 a e"fficlent tea to
•
- _
0,1
1.1
•ft
0 IV
A C C
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