1 of 1920 - A resolution directing Mayor and City Recorder to advertise for bids for the sale of $857,500 worth REMARKS ,-:` . i j
f Resolution No.....a.
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` L, B.11 CQniw wmr:..,- reen. ._.,_..
D'irecting the Mayor and -
City Recorder to advertise for
II bids for the sale of $857,500 I
woof Salt Lake City's bonds i .
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I
MEAD AND ADOPTED
BAN,2.3 1t2b
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ROLL CALL
VOTING AYE NAY,
Salt lake City,Utah. Jar nary 21_, 192_Qa-
Burton ..,...,,.«.,»..
V
Crabbe I move that the resolution be adopted.
Green -- -
Neslen
Mr. Chairman it •
Result I RESOLUTION
BE IT RESOLVED by the Board of Commissioners of Salt
Lake City, Utah: that,
WHEREAS, at a special election duly held in Salt Lake
City, Utah on Tuesday, the 25th day of February, 1919, there
was submitted to the qualified electors of said city who had
paid a property tax, in the year precedin=z said election, among
others, the following propositions, to-wit:
1. The question of incurring a bonded indebtedness to
the amount of ;p250,000 for acquiring water rights in canyons
and creeks adjacent to the city and other sources of water
supply by exchange or purchase, or both, and the development
of local sources of supply.
2. The question of incurring a bonded indebtedness to
the amount of 'a10O,000 for conservation and development of
City Creek Canyon water supply.
3. The question of incurring a bonded indebtedness to
the amount of • 50,000 for the purpose of defrayinrr city's por-
tion of sanitary sewers.
4. The question of incurring a bonded indebtedness to
the amount of 435,000 for the construction of bridges across
Jordan River and the surplus canal.
5. The question of incurring a bonded indebtedness to
the amount of 200,000 for the city's portion of street paving.
6. The question of incurring a bonded indebtedness to
1.
the amount of ••85,000 for city's portion of curbing and guttering.
7. The question of incurring a bonded indebtedness to the
amount of $20,000 for city's portion of constructing sidewalks.
8. The question of incurring a bonded indebtedness to the
amount of "y200,000 for municipal bath nouses and improvement of
grounds at the Warm Springs.
9. The question of incurring a bonded indebtedness to the
amount of 0152,000 for paving buildings and other improvements at
Liberty Park and improving new parks and boulevards.
10. The question of incurring a bonded indebtedness to the
amount of • 27,500 for improvments at City Cemetery.
11. The question of incurring a bonded indebtedness to the
amount of $22,000 for underground fire alarm system, and
WHEREAS, a majority of qualified electors of said city,
voting at said election, voted in favor of each and every proposi-
tion submitted as aforesaid, which result was duly ascertained and
declared by the Board of Commissioners of said city, sitting as
a Board of Canvassers on Monday, the 3d day of March, 1919; and
WHEREAS, there has been sold heretofore certain of
said bonds so voted as aforesaid, the seine being the following,
to-wit:
•14,000 of the .r250,000 voted for acquiring water rights
in canyons and creeks adjacent to the city and otner sources of
water supply by exchange or purchase, or both, and the development
of local sources of supply; and
0100,000 of the 0200,000 of bonds voted for city's por-
tion of street paving; and
.,100,000 of the $200,000 of bonds voted for municipal
bath houses and improvement of grounds at the Warm Springs; and
$50,000 of the $132,000 of bonds voted for paving
buildings and other improvements at Liberty Park and improving
new parks and boulevards; and
2.
YEAS, it is deemed expedient and necessary at this
time to issue and sell 4857,500 of said bonds so voted of which
sum there shall be issued and sold 4256,000 for the acquiring
of water rights in canyons and creeks to be known as `"Water
Bonds, Series "I"' ;
Also, 4100,000, the entire amount voted for conserva-
and
tion for development of City Creek Canyon water supply to be
known as 'Water Bonds, Series "J" ' ;
Also, 450,000, the entire amount of sanitary sewer
bonds to be known as 'Sewer Bonds, Series "H"' ;
Also, 435,000, the entire amount of bridge bonds to be
known as 'Bridge Bonds, Series No. 14';
Also, 4100,000 of the 4200,000 voted for city's portion
of street paving to be known as 'Paving Bonds, Series No. 15';
Also, ;A85,000, the entire amount *or city's portion or
curbing and guttering of streets to be known as 'Curb & Gutter
Bonds, Series No. 16' ;
Also, 420,000, the entire amount for city's portion of
constructing sidewalks to be known as 'Sidewalk Bonds, Series No.
17' ;
Also, 4100,000 of the 4200,000 voted for municipal
bath house and grounds to be known as 'Bath House Bonds, Series
No. 18' ;
Also, 482,000 of the 4132,000 voted for parks and boule-
vards to be known as 'Park Bonds, Series No. 19' ;
Also, 427,500, the entire amount for improvements at
City Cemetery to be known as 'Cemetery Bonds, Series No. 20' ;
Also, .422,000, the entire amount for constructing
underground fire alarm system to be known as 'Fire Alarm Bonds,
Series No. 21' ;
NOW THEREFORE, BE IT RESOLVED, that the Mayor and City
Recorder of Salt Lake City be, and they are hereby authorized,
3.
empowered and directed to advertise for bids for the purchase of:-
•
A36,000 Water Bonds Series "I"
100,000 Water Bonds "3"
50,000 Sewer Bonds "H"
35,000 Bridge Bonds " -------- No. 14
100,000 Paving Bonds No. 15
85,000 Curb & Gutter Bonds " No. 16
20,000 Sidewalk Bonds " No. 17
100,000 Bath House Bonds, " No. 18
82,000 Park Bonds " - No. 19
27,500 Cemetery Bonds No. 20
22,000 Fire Alarm Bonds " No. 21
Said notice to bidders shall be published daily for a
period of ten days in the following papers:
The Salt Lake Herald
Deseret Evening News,
daily papers of general circulation published in Salt Lake City,
Utah; and also in five issues of the Daily Bond Buyer, a paper
of general circulation in financial quarters and published in
New York City, N. Y.
Said notice shall describe generally the proposed bonds
and shall further require that bids upon said bonds shall be
accompanied by a certified check in the sum of not less than one
per cent par value of the bonds bid for, and all said checks shall
be payable to the order of the Treasurer of Salt Lake City, as a
guarantee of good faith on the part of said bidders, and to re-
imburse said city for its loss and expense in this behalf in case
the bidder shall not perform his bid after acceptance thereof.
Said city reserves the right to reject any and all bids
and to accept any bid or bids deemed advantageous to said city.
All bids shall be sealed and shall be placed in the hands of the
City Recorder of Salt Lake City, on or before 10 o'clock A. M.
of the 5th day of February, 1920, and said bids shall be opened
at the meeting of the Board of Commissioners of said city at
10 o'clock A. M. of February 5ti?,1920.
Said notice shall be in substantially the following form:
4.
NOTICE OF BOND SALE
$a57,500
SALT LAKE CITY, UTAH.
Notice is hereby given that Salt Lake City, Utah, proposes to
issue and sell the following bonds, to-wit:
$236,000 Water Bonds Series I
100,000 Water Bonds " J
50,000 Sewer Bonds " H
35,000 Bridge Bonds " No. 14
100,000 Paving Bonds " No. 15
85,000 Curb & Gutter Bonds " No. 16
20,000 Sidewalk Bonds " No. 3.7
100,000 Bath House Bonds " No. 18
82,000 Park Bonds " No. 19
27,500 Cemetery Bonds " No. 20
22,000 Fire Alarm Bonds " No. 21
ae authorized at an election duly held on Tuesday, the 25th day of
February, 1919. All of said bonds shall be dated the let day of
February, 1920.
Said Water Bonds, Series I; said Water Bonds, Series J;
said Sewer Bonds, Series H; said Bridge Bonds, Series No. 14; and
said Fire Alarm Bonds, Series No. 21 shall be payable twenty years
from date of issue, without option of prior payment.
Said Paving Bonds, Series 15; said Curb and Gutter Bonds
Series No. 16; said Sidewalk Bonds, Series No. 17; said Bath House
Bonds, Series No. 18; said Park Sonde, Series No. 19; and said
Cemetery Bonds, Series No. 20 shall be payable serially as follows:
Paving Bonds, Series No. 15, $5,000 payable one year after
date of issue and $5,000 each succeeding year thereafter for the full
period of twenty years.
Curb & Gutter Bonds, Series No. 36, $4,000 payable one year
after date of issue and $4,000 each succeeding year thereafter to and
including the nineteenth year and $9,000 at the end of the twentieth
year.
Sidewalk Bonds, Series No. 17, $1,000 payable one year after
date and $1,000 each succeeding year thereafter for the full period of
twenty years.
Bath House Bonds, Series No. 18, $5,000 payable one year after
date and $5,000 each succeeding year thereafter for the full period of
twenty years.
Park Bonds, Series No. 19, $4,000 payable one year after date
of issue and 44,000 each succeeding year thereafter to and including
the nineteenth year and 46,000 at the end of the twentieth year.
Cemetery Bonds, Series No. 20, 41,000 payable one year
after date of issue and 41,000 each succeeding year thereafter to
and including the nineteenth year and 48,500 at the end of the
twentieth year.
All bide must be sealed and envelope marked on outside
"Bid on City Bonds," and must be placed in the hands of the City
Recorder of SaltLake City on or before 10 o'clock A. M. of the �%
day of February, 1920. Each bid must be accoa.panied by a certified
check in the sum of not less than one per cent par value of the bonds
bid for, and all such checks shall be payable to the order of the
Treasurer of Salt Lake City as a guarantee of good faith on the part
of the bidders and to reimburse said city for its lose and expense
in this behalf in case the bidder shall not perform his bid after
acceptance thereof.
The City reserves the right to reject any and all bide.
Bids will be opened at the meet of the Board of Commissioners at
10 o'clock A. M. February;-y , 1920.
All of said bonds shall bear interest at the rate of five
per cent per annum, payable semi-annually, both principal and interest
payable at some bank in New York City.
The City will furnish to the successful bidder the approving
opinion of Mr. John C. Thomson of New York City.
This notice is given pursuant to a resolution of the Board of
Commissioners of Salt Lake City, Utah, passed the 23rd day of January,
1920.
(T/G7/4 /
Passed by the Board of Commissioners of Salt Lake City, Utah,
this'')... —day of January, 1920.
Attest;
Mayor
/41:::;?-) 7,74/
City Reco der.
(SEAL)