66 of 1942 - Authorizing issuance of $1,250,000.00 Tax Anticipation Bonds, Series January 1, 1943 ____,,�� Page
December Jo( 1942
The Board of Commissioners of Salt a City met in rsgular session on
, December at 110 o'clock A. M. in the regular
meeting pla . The meeting was cled to,order by Mayor Jenkins.
On roll call the following members were/present:
Fred Tedesco Commissioner of Parks & Public Property
Geo. D. Keyser Commissioner of Water Supply & Waterworks
John B. Matheson Commissioner of Streets & Public Improvements
Oscar W. McConkie Commissioner of Public Affairs & Finance
Ab Jenkins, Mayor Commissioner of Public Safety, Chairman
Also Present: Ethel Macdonald, City Recorder
REPORTS OF CITY OFFICERS
Page
ORDINANCES AND RESOLUTIONS
BILL NO. 6r4p, , for an ordinance providing for the issuance and sale of
One Million Two Hundred and Fifty Thousand Dollars (41.,250,000.00) Tax Anticipation
Bonds of Salt Lake City, Utah, Series of January 1, 1943, introduced by Com-
missioner McConkie, was taken up and read:
AN ORDINANCE PROVIDING FOR THE ISSUANCE AND SALE OF ONE MILLION
TWO HUNDRED AND FIFTY THOUSAND DOLLARS ( l,250,000.00) TAX ANTICIPATION BONDS
OF SALT LAKE CITY, UTAH, SERIES OF JANUARY 1, 1943.
WHEREAS, tbere:is an immediate and pressing need for the raising of
funds in the amount of One Million Two Hundred and Fifty Thousand Dollars
(i1,250,000.00) for the purpose of meeting the current expenses of Salt Lake City
for the year 1943 until the payment of the taxes for the year 1943, and
WHEREAS, the estimated tax revenues of Salt Lake City for the year
1943 will aggregate Two Million, One Hundred Twenty-eight Thousand. Two Hundred
Thirty-seven and 18/100 Dollars ($2.128.237.18 )
and the total estimated revenue from all sources will aggregate Three Million,
Eight Hundred Thirty-six Thousand, Six Hundred Fifty-four and 71/100
Dollars (a 3.836.654.71 ),
and
WHEREAS, the sum of One Million Two Hundred and Fifty Thousand Dollars
($1,250,000.00) required now-to be raised is not in excess of said revenue as
estimated for the year 1943.
NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF COMMISSIONERS 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 1943 until the payment of taxes for the
year 1943, shall borrow the sum of One Million Two Hundred and Fifty Thousand
Dollars ($$1,250,000.00) and for that purpose as evidence of such indebtedness shall
issue five (5) bonds, numbers one (1) to five (5), both inclusive, in the denomin-
ation of Two Hundred and Fifty Thousand Dollars ($250,000.00) each. Said bonds
shall bear date of January 1, 1943, and shall be due and payable January 1, 1944,
bearing interest at the rate of six tenths of one per cent (6/10 of 1%) per annum,
payable semi-annually on July 1, 1943, and January 1, 1944, both principal and
interest being payable at the National City Bank of New York, 55 Wall Street,
New York City, New York. Said bonds shall be designated "Salt Lake City Tax
Anticipation Bonds, Series of January 1, 1943." 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 with the lithographed or
engraved fac-simile 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 wits
UNITED STATES OF AMERICA
STATE OF UTAH
COUNTY OF SALT LAKE
SALT LAKE CITY TAX ANTICIPATION BOND
SERIES OF JANUARY 1, 1943
No. ar 50,000.00
KNOW'ALL MEN 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 TWO HUNDRED AND FIFTY THOUSAND DOLLARS ($250,000.00)
in such funds as are, on the date of payment of the principal of and the interest
on this bond, legal tender for debts due the United States of America, on the
first day of January, 1944, at The National City Bank of New York, in New York
City, New York, with interest thereon at the rate of six-tenths of one per cent
(6/10 of 1%) per annum, from date until paid, payable semi-annually in like money
on July 1, 1943, and on January 1, 1944, said interest to maturity being represented
by interest coupons hereto attached.
This bond is one of a series of five (5) bonds of like tenor and
effect, numbered from one (1) to five (5), both inclusive, and known as "Salt Lake
City Tax Anticipation Bonds, Series of January 1, 1943," for the aggregate sum of
One Million Two Hundred and Fifty Thousand Dollars ( 4 ,250,000.00), issued pur-
suant to Section 15.4-6, Revised Statutes of Utah, 1933.
The City of Salt Lake City shall levy in the year 1943 a sufficient
tax to pay the principal And interest on this bond as the same shall fall due, and
this bond is issued in anticipation of such taxes for the year 1943.
It is hereby certified, recited and declared that the entire indebted-
ness of said City hereby incurred is not in excess of the taxes of said City to be
levied for the current year 1943, and that said 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
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 has been
duly complied with, and that this bond is within every debt and other limit pre-
scribed by the Constitution and Laws of said State, and that the fill faith and
credit of said Salt Lake City are hereby irrevocably pledged to the punctual pay-
ment of the principal and interest of this bond according to its terms.
IN1ITNES WHEREOF, Salt Lake City has caused this bond to be signed
by its Mayor and its City Treasurer, its corporate seal to be hereunto affixed, and
attested by the City Recorder, and the annexed coupons to bear the fac-simile
signature of the City Treasurer, as of the 1st day of January, A. D. 1943.
Mayor, Salt Lake City, Utah
ATTEST: City Treasurer, Salt Lake City, Utah
City Recorder, Salt Lake City, Utah
(SEAL)
To each of said bonds shall be attached a coupon for each installment
of interest contemplated by said bond, the coupon due July 1, 1943, to be numbered
one (1), and the coupon due January 1, 1944, to be numbered two (2), with the
several dates of payment and number of bond, and shall bear the fac-simile
signature of the City Treasurer. Said coupons shall be in substantially the
following form, to-wit:
(Coupon)
No. $750.00
On the first day of January-July, 194, Salt Lake City, in Salt Lake
County, State of Utah, will pay to the bearer hereof the sum of Seven Hundred
Fifty and no/100 Dollars ($750.00) in such Hinds 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, 1943.
(Fac-simile 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-
ments contained in said bonds are hereby adopted as covenants, statements represent-
ations, agreements and promises of Salt Lake City, Utah.
Section 3. The Mayor and 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 be signed
by the fac—simile signature of the City Treasurer, and the City Auditor is author—
ized 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.
Section 4. That the Board of City Commissioners shall levy in the
year 1943 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 Lake City are hereby irrevocably pledged and the Board
of City Commissioners hereby covenants with the holders of said bonds to levy in
the year 1943 sufficient taxes to provide for the payment of the principal and
interest of said bonds.
Section 5. Zion's Savings Bank and 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 was the best and moat advantageous received
for the purchase of said bonds, and which offer has heretofore been accepted by
this City Commission, the acceptance of said offer be and the same is hereby
lfied and confirmed, and the City Treasurer is hereby authorized and instructed
to deliver said One Million Two Hundred and Fifty Thousand Dollars ($1,250,000.00)
Tax Anticipation Bonds to the purchasers thereof as and when the said bonds shall
be and are legally issued and delivered, upon receipt of the purchase price
therefor.
Section 6. The City Recorder is hereby instructed and directed to
cause copy of this ordinance to be published immediately in one issue oflikk
TIM_ pAgr*Vig '$
IIIIMAUXISINKIla, 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 necessary to the peace, health and safety
of the inhabitants of Salt Lake City that this ordinance shall take effect at
once.
Section 8. This ordinance shall take effect upon the first publication.
Passed by the Board of City Commissioners of Salt Lake City, Utah, this
d th-a y of December, A. D. 1942.
Mayor
i >"...,---
Salt Lake Ci :,.. Utah
. 4 .1-TYsarf u < Pi'-': - , .
, ot? s, ii 7= ti
c. r. /' a,
tl Salt Lake City, r c
. ..,...„..,,, . „
at .a -
41:4
3 . a
Bill No. (p L
Published December id , 1.7.4422.0
Mr. moved, seconded by Commissioner
k-(Za , that the ordinance be adopted, which motion carried,
on the fo owing unanimous roll call votes
Fred Tedesco Commissioner "Aye"
Geo. D. Keyser Commissioner "Aye"
John B. Matheson Commissioner "Aye"
Oscar W. McConkie Commissioner "Aye"
Ab Jenkins, Mayor Commissioner "Aye"
ATTEST: Mayor,
Salt Lake City, Utah
City Recorder
Salt Lake City, Utah
(SEAL) � l
I
ds doe33e :nisi. Ilsde eonsnibso atdi dsdf "010 e:tsJ also to afnsdidsdni .edt lo
.so no
.notd'so.ilduq Iei±1 edt noqu foells exist Ilsda eonsnibzo aidT .8 noi4ose
side tdsdU .mil 10 sir." nils2 lo e'xsnotaatiemo0 '010 lo brisofi edt Id beeas`i
.API .0 .A .'sedmsosa lo izsb_s'�
54-- ,
auscsil
.':' -,., .
dst U iU eAisj i „
f isa N
ill \ .,..,„
imy
C -.� so �ft0 0
' a �.&,tto e�1xJ Pisa °
lir In
Z.
g
(-, zliL
.lci; .oU[ ili£?
'\�:,1 . ': 7edmeosI bedatlducI
7enotaatmmo0 Qd bebnooea 1bevom-._."�..), ....u.,�..�se''.- .'M
tbet'rxso notice dotdw ,betgobs sd esnsntbio sdt J dd ._____ \ t?_
:etov Ilso Iioz auomtnsnu gatwolLol sit ao
"suit 7enotaatmmo0 oosebeT bef1
"8Y,A" nsnoteatmmo0 Isexe)1 .(.1 .oeD
"gip." Kenolestmmo0 nosedtsM .H ndoi.
"axe 7enoiaetmmo0 stXnoO0M .W qsoa0
"sicA" zenotaetmmo0 7ogaM tanthneL dA
loysM ;'.r 2TTA
ds1U 1i t0 sa(s1 f1s2
^xeblooeii -d20
dsiU e 10 s)is.I ils8
0\ (J_4.z)
Affidavit of Publication
STATE OF UTAH,
County of Salt Lake
•
Legal Notice •
Lego H. Young
,707•of the
Hey.. SECTION
L1•of the Walt,
led ordinances et eau Being first duly sworn,deposes and says that he is the ad-
Lake City,Utah,IBS4, amended by an
thisonce passed by the hoard el Cem
ilelicenss on AUBue,t 17, 191V, relating vertising clerk of THE DESERET NEWS, a newspaper
o licensee.
-Be It vlaided by the Board I Com•
miasione'a o1 salt lake City.Utah: published in Salt Lake City,Salt Lake County,in the State
SECTION 1. That a7 of the y
Revised Ordinances Salt Lake City,
Utah, 1934, amended by au Ordinance
passedUCUSt 1the1B34aidalalinCo Commissioners of Utah.on
be and the mime le thereby amended to
read ae follntel
SEC.707.VEHICLES,LICENSE.(au It
'shall be Unlawful for any person to use, That the advertisement S`lt Leke-Cityy Corporation
operate o r to cause ny r inn,p a aer permit a p
of hie pplonyee or agentp to T•epe'at,
r n,elth t of hie buei auto ) ,ff. p •t t + }
a yn wagon, automobile..hereh le alb auto QI'.4SSIAZIC[l--B.SSl..((..�7 1.1.Py�-y��"Ig.-yQ--y/Licensee.
sstage,
truck or
theh streets. of Salt like
City without first paying the fee herein
provided and obtaimea- a license tor
• each vehicle BO used and operated. The
yearly license tax Inc vehicles shall be
according to the tollowing schedule:
PAe6HNOER vC,a/CLltn
For each taxicab or automobile for
hire with a raped. e1 ae
lees persona,including'drivere11,...925.00 For eadh taxicab or a kutorroblle for waspublished in said newspaper, in its issue dated, the
nice with a rapacity of More than P P
seven perilous, including driver .445.00
tFdr same-automobiiie taee operat- 17 dayDecember A.D. 19 42
ing between Salt Luke Cily a o f
Poi b'RE UHT A,'ENICLby0••.•"A0
For each two-horse vehicle for the
earl..of brick. .coal, lumber, and was published ODOe
tone, earth.gravel,sand, cement,
Br
ae, tiling,steel beams ndo her
•steel and heat products,oil,gasoline,
-.odds. are, merchandise,Lilian• the last publication thereof being in the issue dated the
lectured articles, a pe'ese matter x material bay and cry ki of
' any and every kind A 0.00
For each on.ho'ee Vehicle for the.`--. day of A.D. 19
......................
.•carriage.above e of material a described
4
aoe 6.00
For each three-bores or Your-horse
vehicw desle for crrbedthboveriage of vtateria!410.00 Ad tieing Clerk.
For each motor vehicle of Any de-
en orn of a Mr
carriage one-half
ton or Idea Rbe triage m
rran described above,per year ar
'or part tbeanf /5.00
Fo each motor vehicle of any de-
1'iption f a 22
Beau one-half ton rapacity
not of
e s
d one tor, for . iage f ma- 'o before me this day of
[slot.aa,described above a 610.00
•For h motor vehicle of any de- A.D. 19 42
iplion bt a capacity of limit o and leas than three
tons. Toe ton
el material as
described shove 316.00
H'or each motor vehicle o4 any ore
acquaint h capacity a more
ierithen threat tone and leas than _& rPubl
Lois,for the carriage of n '-
al as described aUove 'a$20,00 tay '
For each motor vehicle of anY de-
cripnme of a capacity of more
than v tons• r time 'age
of material as above embed
(), •
I t
For each motor vehicle used for
commercial
tl acribedpOsee he'einaud not oth-
erwise81000
(b)Every vehicle licensed under this
section shall have taslened thereupon 1u eucn
manner
that the a same may be plainly
eel windshield slicker, to be furnished
by thaa license as and odllectotoi,bear-
ing
then f ethe class of such,vehicle
and the Year for which it is sued;ter
such sticker the licensee shall pay the
sum of 10 cents;-and it shall be vn-
lawful to t °Perot.,orsuch
any
ceblele,upon
use,
the same run duly ty
need,s n the el attach Lake Ceto;
ands suchh be sticker isattached.tperson,
and It shall pi unlawful for any person,
upon the expiration of such ,license, it
anther datlon 01 the same,to lie r
saidor license number to or or
eat ruched' to his lte to
operate orit run his vehicle alter his license
d
has dayirn eora has been eoor vehicle
¢scut e, Boy wagon,aautomobileponhestrs
is used,oLetho y upon the streets
of eon Lig City red a uttic she owner
thereof lancingceprocured a license tof ts
in compliance with the provisions considered
this
section,sseparate
to all'a distinct
to aim t»c s .nd
a;
cep It shall a yvl a offense hereunder.rrcvt
a let I,shall Cr por ss to nny kCeense
to sell, oiler eiobsr y license
under the provisions f t this sec-
tion,Lse -ion, except bye permission of the board
of t commissioners.
(di Mall be unlawful our anye peruse
.toat hire,engine oremploy for the purpose
hie hashees any teamster op o
mobile weer who hall nyt base herein
to license tee�fa vehicle as herein
provided,'U'
let The provisions of thisesectionnee shall
not apply to vehiclesw used for pleasure
only. Any Person.who pays a elcilee t
en Salt 10-o car for the business
al
engaging in carrying on btuinese shall
be entitled on exe used onpc vehicle
Incase such licensedvehiclesbusinessu to principall an y
not to exceed the anre of n f the business
ill license-m . Any n m
attached thereto the windshield a sticker
referred To t this section,inc which the
license assessor shall collect the sum of.
10 cents.EeO person having a evidence o
(II Any
place of busins w thou t the limits of
Salt.Lake City.who shall use,
t'
vehicle on the streets nl operate
city
for the purposes of lain business, shall be
required to D roeu11 license u
such vehfcle,asdt8 to-theschedtle each
r ens 0f e Beaton, provided. how.
ever, y such'vehicle, except
automobile stage,which has.been licensed
b any otter'eiar or municipality of she
State ifU which cry o murtlytra
recognizes the license issued by Salt
lake City, shall exempt from the
license fees imposed this is and
the owner thereof may have issued to
him 66e windshield sticker mserre¢
to
herein p payment rho of 3o Cents.
SECTIONmmis 2.In the opinion en of the oBoard j
of Peace.
athnen is.i cry In the
penes. health and 'safety of arse inhabi-
tants Salt Lakes effect
immediately.en tll shallordi-
sake effect osnceshall effeS t upon
it This ordinance shall lake
slier n its lire publication,
Commissioners
Passed by the Board of 1ethoney
Of Salt C.1 Utah, this•lies day
of December,A.D.3911,
An JENKINS.
Mayor.
E'DAEL My
C1 Recorder,
(SEAL))
RILL NO. 87. -
Ptpublishedns
December 17t4, 191Y