89 of 1959 - Authorizing issuance of $90,000.00 Special Improvement Bonds for Curb & Gutterr Ext. No. 283. Rcc.SOON 200 '3.59 Q.P.
ROLL CALL Salt Lake City,Utah, NOU 3 1 59 , 195
VOTING Aye I Nay
I move that the Ordinance be passed.
Burbidge . . .
Christensen
'`
Geurts. . • —'�
Romney . . .
Mr. Chairman . d/ AN ORDINANCE
Result .
AN ORDINANCE authorizing the issuance of $90,000.00 special
improvement bonds for Curb and Gutter Special Improvement District No. 283
of Salt Lake City, Utah, prescribing the form of bond and interest coupon,
maturity and denomination of said bonds, referring to the special assessment
lien, providing for a one-mill levy for guaranty fund purposes, and pro-
viding when this ordinance shall be effective.
WHEREAS, the Board of Commissioners of Salt Lake City, Utah has
heretofore adopted proceedings for the construction of improvements in
Curb and Gutter Special Improvement District No. 283 for said city, and
Bill No. 77 of 1959 of said city confirming the assessment role for such
improvements having been duly adopted and approved September 2, 1959; and
WHEREAS, notices of assessments to property owners in said
district have been duly published and also mailed by the City Treasurer
to all the owners of all property assessed in said district in accordance
with the requirements of the ordinances of said city and the laws of the
State of Utah; and
WHEREAS, the share of the cost of the construction of improve-
ments In said district assessed to the owners of private property in said
e: district is $124,545.19; and
WHEREAS, during the fifteen-day period following the confirmation
(,.. )of
of said assessment role, the owners of private property paid $34,518.37 on
the principal of their assessments; and
WHEREAS, it is the opinion of the Board of Commissioners of Salt
Lake City, Utah that the special improvement bonds of said city shall be
issued and sold for the purpose of paying the unpaid assessments chargeable
to the property on the streets improved in said Curb and butter Special
improvement District No. 283 of Salt Lake City, Utah;
R. 105 700 '3.59 Q,I'.
2 -
NOW, THEREFORE, be it ordained by the Board of Commissioners of
Salt Lake City, Utah:
SECTION 1. That all of the proceedings heretofore taken and
adopted for the creation of said Curb and Gutter Special Improvement
District No. 283 for Salt Lake City, Utah, and for the construction of
Improvements therein and the assessment of a part of the cost of construct-
ing such improvements on and against the private properties in said district
shall be, and the same are hereby ratified, approved and confirmed.
SECTION 2. That for the purpose of paying the unpaid assessments
chargeable to the abutting, adjoining, contiguous and adjacent lots, blocks
and parcels of land in said district within said city, there shall be
issued $90,000.00 Salt Lake City Utah Special Improvement bonds on Curb and
Gutter Special Improvement District No. 283. Said bonds are to bear date as
of the 4th day of September, 1959, and shall mature serially as nearly as
may be possible, in ten equal annual installments without option of prior
redemption, said bonds to bear interest at the rate of five per cent (5%)
per annum, to be numbered, in denominations, and to mature as follows:
BOND NUMBERS Amount Year
(All Inclusive) Denomination Maturing Maturing
1 - 9 $ ,000.00 $9,000.00 960
10 - 18 ,000.00 9,000.00 961
19 - 27 ,000.00 9,000.00 962
28 - 36 ,000.00 9,000.00 963
37 - 45 ,000.00 9,000.00 964
46 - 54 ,000.00 9,000.00 965
55 - 63 ,000.00 9,000.00 966
64 - 72 ,000.00 9,000.00 967
73 - 81 ,000.00 9,000.00 968
82 - 90 ,000.00 9,000.00 969
Bond principal and annual interest shall be payable at the Office of the
City Treasurer of Salt Lake City, Utah.
SECTION 3. That said bonds and the coupons thereto attached shall
be in substantially the following form:
UNITED STATES OF AMERICA
STATE OF UTAH
COUNTY OF SALT LAKE
NO. $1,000.00
89
Rec.ioR no•R.s9 O.P.
-3-
SALT LAKE CITY, UTAH
SPECIAL IMPROVEMENT BOND
Curb and Gutter Extension No. 283
KNOW ALL MEN BY THESE PRESENTS:
That Salt Lake City, in the County of Salt Lake, State of Utah,
a municipal corporation duly organized and existing, for value received
hereby promises, out of funds available for the purpose, as hereinafter
set forth, to pay to bearer on , the sum of ONE
THOUSAND DOLLARS ($1 ,000.00) in lawful money of the United States of
America, with interest thereon at the rate of five per cent per annum, pay-
able annually in like money on , in each year,
upon the presentation and surrender of the interest coupons hereto attached,
both principal and interest being payable at the office of the City
Treasurer, Salt Lake City, Utah, In event of failure to pay this bond when
due, it shall draw interest at the rate of eight per cent per annum until
paid.
This bond is drawn upon the City Treasurer against the special
tax levied upon the property included In Extension No. of
said City, to pay the cost of construction done in said
district or extension, under, by virtue of and in full conformity with the
Constitution and Laws of the State of Utah, and also ordinances of said
City duly passed and made a law thereof prior to the issuance hereof.
A special improvement guarantee fund has been created by said
City as provided in Article 8, Chapter 7, Title 10, Utah Code Annotated
1953, and said City agrees that at all times during the life of this bond
and until payment thereof in full, said fund shall be at all times maintained.
This bond is payable exclusively out of said special tax and the said special
improvement guarantee fund, and neither said City nor any officers thereof
is holden for the payment thereof otherwise.
It is hereby certified, recited and declared that all acts, condi-
tions and things essential to the validity of this bond exist, have hap-
pened and have been done in due time, form and manner as required by law,
and that the total issue of bonds of said city for said Extension or Dis-
tict, including this bond, does not exceed the taxes levied to cover the
cost of said improvement and that all of said taxes have been lawfully
levied.
iN WITNESS WHEREOF, Salt Lake City, Utah has caused this bond to
be signed by its Mayor, and attested by its City Recorder, and drawn by its
City Auditor on its Treasurer, and the annexed coupons to bear the fac-
simile signature of said City Auditor, and this bond to be dated
Attest: Mayor
\t"(14Mtf
ecorder
City Auditor
(SEAL)
(Form of Coupon)
Coupon No. $50.00
On Salt Lake City, Utah, will pay to bearer,
RC.I 08 zoo j 59 Q,r.
-O-
at the office of the City Treasurer, Salt Lake City, Utah, the sum of $50.00
lawful money of the United States of America, being one years's interest due
on that date on its Extension No. bond,
dated , this coupon being payable exclusively from
the funds described in said bond.
(Facsimile Signature)
Bond No.
City Auditor
SECTION 4. Said bonds shall be signed by the mayor and attested
by the city recorder, and drawn by the city auditor on its treasurer, and
the annexed coupons to bear the facsimile signature of the city auditor, and
the Board of Commissioners of Salt Lake City, Utah, does hereby ratify,
approve and confirm the execution of said bonds by the said officers and the
city treasurer is hereby authorized to issue and deliver the bonds to the
purchasers thereof, their agents or assigns, on receipt of the purchase
price therefor.
SECTION 5. That the offer of Edward L. Burton & Company to
purchase these bonds at a price of par and accrued interest is hereby accepted
and the bonds are hereby sold to said purchasers in accordance with its offer
to purchase, and shall be delivered upon the receipt of the purchase price
thereof.
SECTION 6. The treasurer of Salt Lake City, Utah, shall be and is
hereby authorized and empowered, and it shall be his duty to receive and
collect all assessments levied to pay the cost of said improvements, the
installments thereon, the interest thereon, and the penalties accrued,
including without limiting the generality of the foregoing, the whole of
the unpaid principal which becomes due and payable immediately because of
the failure to pay any installment whether of principal or interest, when
due, and to pay and disburse such payments to the person or persons lawfully
entitled to receive the same in accordance with the laws of the State of
Utah and all the ordinances and resolutions of said city heretofore or to
be hereafter adopted.
All monies constituting the payment of principal and interest
shall be placed in a special fund to be designated "Bond and Interest Fund
Curb and Gutter Special Improvement District No. 283, Salt Lake City, Utah,"
K .108 200 3 59 QP.
- 5 -
and shall be used for the purpose of paying the principal of and the interest
on special improvement bonds of Curb and Gutter Special Improvement District
No. 283 and for no other purpose whatsoever, and as security for such pay-
ment said fund is hereby pledged.
SECTION 7. A special improvement guaranty fund is hereby created
by said city as provided in Article 8 of Title 10, Utah Code Annotated,
1953, and said city agrees that at all times during the life of the bonds
herein authorized and until payment thereof in full has been made, said City
will levy annually a one mill tax for guaranty fund purposes authorized by
Article 8 of Title 10 of Utah Code Annotated, 1953.
SECTION 8. Should there not be sufficient money in the Bond and
Interest Fund to pay all of the interest falling due at one time and the
principal amount thereof due, the said interest and principal shall be paid
from said guaranty fund to the extent that there is sufficient money in
said guaranty fund for this purpose, and this bond is payable exclusively
from the special taxes levied for said purpose and the said special improve-
ment guaranty fund, and neither the Cltynor any officer therein Is holden
for the payment thereof otherwise.
SECTION 9. That the assessments and interest thereon shall con-
tinue to constitute and are hereby declared to be a lien in the several
amounts assessed against every lot or tract of land in said Curb and Gutter
Special Improvement District No. 283 from and after the 3rd day of
September, 1959, the date on which the ordinance levying special assessments
became effective, which lien shall be superior to the lien of any mortgage
or other encumbrance, whether prior in time or not, and shall constitute
such lien until paid, which lien shall be equal to the lien for general
taxes.
SECTION 10. Said funds hereinabove referred to shall be kept
separate and apart from each other and from any other funds of the City and
shall , from time to time as they are accumulated, be deposited in such bank
or banks as are designated as depositories of public monies for funds of
said City under the Depository Laws of the State of Utah for the deposit of
public funds.
SECTION 11 . Default in the payment of
�any Installment of
Rec 10R 200%s-59 QP.
- 6 -
principal or interest when due shall cause the whole of the unpaid principal
or interest to become due and payable immediately and the whole amount of
the unpaid principal shall thereafter draw Interest at the rate of eight
per cent (8%) per annum until paid, and the City covenants and agrees that
it will proceed with due diligence to place in operation the procedure
necessary to provide for tax sale of the property and that the proceeds
from the sale of any property sold will be placed in the bond and interest
redemption fund hereinabove referred to. If, after tax sale, tax sales
certificates have been issued to the City, the City will proceed with due
diligence to sell said property and place the proceeds in the bond and
interest fund hereinabove referred to.
SECTION 12. In the opinion of the Board of Commissioners of
Salt Lake City, Utah, it is necessary to the peace, health and safety of
the inhabitants of Salt Lake City that this ordinance become effective
Immediately.
SECTION 13. This ordinance shall take effect upon its first
publication.
Passed by the Board of Commissioners of Salt Lake City, Utah,
this 3rd day of November , 1959.
a" r'
( S F. A L )
BILL NO. 89 of 1959
Published November 9th, 1959
AUM.SOA
N
Affidavit of Publication
STATE OF UTAH,
ss.
County of Salt Lake
D. M. Ockey
Being first duly sworn, deposes and says that he is legal advertising
clerk of the DESERET NEWS AND SALT LAKE TELE-
GRAM, a daily (except Sunday) newspaper printed in the Eng-
lish language with. general circulation in Utah, and published in
Salt Lake City, Salt Lake County, in the State of Utah.
That the legal notice of which a copy is attached hereto
Salt Lake City Bill No. 89 of 1959.
An Ordinance 1,utl-torizinE the Issuance of
$90,000.00 Special Improvement Bonds for
Curb and Gutter Spocial Improvement
District No. 283/
was published in said newspaper on November 9, 1959.
Legal Advertising Clerk 7
Subscribed and sworn to before me this 10th day of
November. A.D. 19 59• \
-, 1
Notary Public
My Commission Expires
Nov. 25_, 1901.
89
—^ Bled H _I l SI a t
or
Legal Notices I I egal{'�oticef • te,t'dSFSCT ON 4l s Id b d shall
Id bsigned tti t the
d t d t d 't
AN ORDINANCE f 1'�' t d th d p t b }h [ 1 t
AN ORDINANCE h 1 1 g th of yspA00 00 .DI 1 f tI (t d t d th H d ( (es I(I k
1mn t b tl fp L�tl b d G tte Sp 1 1 IO1Vtov t C tY Ut h d b f U t Lh Li 1 11
trf t N 28tl fuS It L k City.''Utah, etibl H t i t t bond d bonds b thed officers d the 't t h b th
n 1 l f L at ill d cl ynau 5T sold b tl d t i' d d h bonds t theh- thereof,their
to g t th 1 �,$1e P M t 11 1 t - t f theh 1 therefor.
fo t, fu d liN; ps,Sl1d roro d fe h th ordinance shell SECTION 5 That the t f Li d I Burton G Company t _ • t h thesebonds t d accrued interest
b fWHEREA§ th B`M r° CCC sSi n f Salt Lake Clt• hereby accented d the b hereby old to said p in.
VL 1 h 1 t fdadmit,/ ^ge tll g's f thet t f U with 1t I [ purchase.and shall be delivered tirionl
p t i C 0 d Gut o r Special i District' No I lh ih rr ttr f
261 f 1d It d DIl]N 'I'( f 1959 f Said It. rfl a the) SECTION 6. TI t f S It ealce City Vt h h 11 b I
assessment role for such m e is having been duly adopted d hereby th .xed a d »Cn.ve.ed, d it shall be his duly
and d September 2 1959 d ? d 1 t d t the cost [ d
WHEve A4 1 : ! t t ra ilY n d f the Installments 12 the interest thereon. d h
d t l e h b IY b11 ia d 1 1 n tied by the C I T ` Penalties 1. including without limiting the It f the
r •to all the F ell PropertydI said district £ th whole f t 1 h b due
JlI
• d with thet t the ordinancesE said city and and-payable d1 t 1. because of the failure to Pav ony install
th 1 of the State of Utah:and t hth f 1 t t h d A top d.
WHERFA9 Mc share a the -t of the construction,of lm- disburse h paYments t the persons thwfullv e.ntilledto'
Provements in sold district d to the f private Prof the d ith the laws of the Si ate of Utah
city 1 'Itl d' t 12 54 1 d d all th d' d resolutions of said city heretoforeto
IllationWH 10 hS 1 th fifteen-di-iv period following the b hereafter
Il4381 said
t1 l 't'lrole.
tt he owners ft tl nt id hll plil d pp monies l.'tlf iny ihlbdt ft iB d dt interest�
\N0StibA it I [h i f tl 0 d f C t Fi1d Curb Anl t. 1 1 t 0'[I t 2 n Itl
Salt Lak Clt, Ut ls th t i e 1 1- bonds f 'd city Lake City.I h d h 11 d f [h t y' 1
pal b d Id( of p f paying theunpaid, -I Hrirt G l of d th i -t p
t ha r bl_t th_ r the t is 1 d 1rnd Gutte-Suer 1 Iov-nno t ly Len such
earm en of f(di ry
C b -Gulte Sn. I Iarp mOrt District Na.28lr of S 1[Like Jleteb�c wAced ever and as {v for such Payment said fund .s
City.Utah; ,special tmnrdvementguaranty fund to benchv
le
NOW.Tfil ine AE,be it ordained by the Board of Commis.i created be said lityA as boost alone f Salt take City U£ti - c dad a Article [ itle l0.Utah Code
rS1:�T10N 1.'That ail o£the proceedings heretofore Wien a d Annotated,]9.�i3.and said city agrees that at all times during the 11[e
dwell tl the cr tlon o[ d akrlr� 1.Ginter va cinl the nov-I f the bonds herein authorized and until Payment thereof In hill has
meat Distrrict No-L83 for Solt Lekc Lity, Utahs and lI the or.. been made,said City will levAannuallya e ill tax for,r r. tv
struction f improvements(h d the nt of t oft fund .s authorized by Article l 8 of Title]0 of Utah Cade nAn
the t of constructing such improvementsA against the - notated,1952.
xoproperties
p 'ti d district shall b and the h b I SECTION
CIt g'S}Should 1 rit b ft f . in th Bond Fd pay an fiyinterest
t tf1 Iile t one time,
t SdECIONp T ifi id [ C the id d thelp 1 t t of d the interest 1
t bl t th 0 Et a i t R d d E�' D 1 h 11 D n'd 3 t } t th t U t th
lot bl k tl 1 t i-n 1 id 1' 1 I hl U t h f ff i { u - L £nd f thl p 1 thf II
mullb l d f900000U It L k Cit Ut h 5 -I I pr've nti bused is nn all exclusive),£ (I special t 1 d f d..
bonds C 3 d Gutter Special [ District_t No. 288 P p d the1 t f neither
a bonds b d f the4th d f 5 t tuber.1959 the Citye f[ therein holden forthepayment th f
d '1 11 t 1 b pti in ten equal
annual installments with Out t1 E priorredemption.said bonds SECTION That thet _Interest tl h 11
to b interest f the ratef five t OS I per annur,to ec be continuet constitute A b, declared l b. II f I
BO
b I l d I t d to motor E ll vs. r I t U t every ND Nl}MBERb Ar it Yeae C I d Gut S 1 I tID1 t t N.o 8- froor trset of land m and
(All(All Inclusive) Dcrnominatlon Maturing MaturinY aft the3 d i fSeptember. 1950 the doteh h the
]00 �10)O t0 39000.00 0511 inane,shalt It lien f assessmentsb ff.t which
3018 000.00 9000.00 196E flien
192! 1.000(0 9,0n0.00 19G2 v b h h P [ h 1any t. t e or [� i'
2H-3fi 1.000.00 9.000.00 1994 i t'
alto 1,000.00 9,000,00 1954 aSECTION o10 Sind 11 each other
r f th referred t 1 b k f
d8-54 1.000.00 8,000.00 19fi5 [ p t, d t - h d f h. d f
Sf_G0 1.000.00 ,000.00 1986 1 th Cif d shalt f t' t t c they ti9'12 1,030.00 .000.00 390'! deposited I h-. k 4 d t I h
T381 1.00000 900000 1900 11rr rylIor
8280 100000 BOOOrat 19fi9 th St t f rl ry e fh rfl l d of hl ,h D 't L £
Bond principal and annual interest hall it payable at the Office SECTION 11 D f It t f 1 t i t f
f the City freasru b of Salf I.aa Cily Utah ! Principal } h 1sisal! th h f h
SECTION l That said bovda and the<pupons thereto attached. f interest t 0 d d la hl Immediately I
ehall be]0 sUbstantfally the fallowing form• I th whole t f the d 1 ,shall thereafter t
UNITED 9TATD5 Of'A}M}ERICA row in.
t t thet f h t 8 ill d
COUNTYTOFOSALTALAILE to place in n eeat'nnl lhn am c mat i will e rove s2"-dtn "he d' e• col
No $1,000.00 sal f eth h t tl d f tres f f f
SALT LAKE CITY UTAH n d t 11 ll 1 1 d t b d d t
SPECIpf.IMPFOVFMENT HONU d h' b / ( It f I 1
C b- 1 C t F} No gal }r h d t to 't theC'1 ill d due duieence
XNO`V ALl pink RY 1}IFS PRESENT t 11 ( f theProceeds In the botui d interest
TI t S IL L I Cit I tl C t E Salt I .Slat f Utah. fund hereinabeim referred t
n municipal t- duly it l existing.for1 SECTI N] f n f(hp l a f Commissioners f
l d hereby n it f d it bl forthe p v S I L C t,.it is neecesory to h £t t f th [ DD b tl f h h bit f Salt LakeCitythat thisordinance bec met ome cf-I
C ONE TF OU ANI�oDOILA RS gl 000.00 ]Wf 1 y i L - iy
of lidVisited n t P Anomie', 1 t t thereoni theto SECTION 1_.. This ordinance shall take effect Upon its first
of five per cent 1 a nnum Ivaryle an wail n in lie m v on P rbl[ tin 1,
deli 5• r, o the socntaiion Passed b•,the Bnm'd of Cnmmisstoners of Salt Lake City,Utah
And surrender f thy oi interest, peons hereto ttached,botlac rmc' l thts Ord day of November,3959. ADIEL r'.Sir'
Interest belne_ yi'gt` t the arising'
a[the City Treasurer,Salt Mavn EWART
Saale City,ntale to 00 nt ne oft lure to nay this band wnov due. t
Shalt This interest
ist nrtatv^.li e of
City Treasurer i against the thetil paid. HEAMA City 1000,0tlerEN
tax levied uponrthe ;nn 'lyu100100ed hr Ha Extension No. [CFALt
f cgicl Clty eto a the en t o! eo 'h'uetion BA.L NO-89 of)Hip
Clone to 'a1d sllntrict exicnslon,under.by �irluc f nd ii full, Pohlished Nosr,9,1959 lB-3001
aformitor vlth the Co id CI(ion rid Laws ed the State of Ureofi — --
prirc to ei nonce of said CIfY duly passed and made a law thereof
Prior to the issuance hcoc,if.
A special ovlrted 1,1 1�t161eo 8,11C:liagtend'1 hTlticcl0,created
tah Code,
Attu olatcd ISSd, nd Id Clnffi,v a s lira(aU Il times during the life
al mill fin esdm Idtainnf.Tfilsr bnndhereof n trrlx, Id fund hall}}11
yaaioi c)aaly t f sold:
neitle tax n rid the said s I Is thereof Isguaranteeer he,and
her said tatty norpoftleers thereof Is oen for the n
m,nt ther,of otherwise. a11
Lions land hhines es,11t.l to edicts lidho<lofe this'that
exist,c have
happened and have°beeir done i due time. form and manner as i
re Iced by law, d that the tonal issue of bonds of said city for
;axesEleviednto covert the.In l ofinaid improvement hand dne and thatealltrt
said IN WITNESSeWHFRifturOF.'halo LakeCity,Utah has caused thi)
Urawrt by It,Clp'l Audltes Malts T[castireritaddbtimeita ne<ydReooroe:',I
to bea the facsimile signature of said City Auditors ande dthis ubond,
Attest:
Mayor
City Recorder City Auditor r•
(SEAL)
(Form of Counonl
Coupon No. 000.00
On Salt Loh,City.Utah,will MY
theh earlr'of t$50e00 lawful the City Treasurer.tedlStatese City.
being ono year's Intcreat Brie on that date on its n
m
Exte thisn coun,n being payable d e dated ..
land.clea<rlbed-in said bond, exclusively from lhel
V q