10 of 1932 - A resolution authorizing the delivery of Storm Sewer Bonds in the sum of $50,000.00 to the First Sec REMARKS:
Resolution No. 10
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i' .fb commissioner I r,Cu,s !, 1
Ajattiorizing the deliVery of
Ste ewer -
ezds in the.`.sum of $50,000.00
to the First. Sec.Co. and.._Bdw ..L.,'`
1Bo..__.,...Series._of_Dec 15,
urton €c g
1931 and bearing interest at
1 4 3/4% per annum.
1
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�i r'mooted to the Board of Gonookol000ts
i.9I r. 'R AND PASS OD
...S7"7 F.S..UlwlAift' — - -
ROLL CALL 31A /6 193.gd Sat Lake City,Utah,
VOTING AYE Y
Finch
I move that resolution No / by
Keyser be adopted.
Knight
Lake
Mr.Chairman - - -
Result
MARCH 8th,,;1932 at. 6/4" Ct.,M.•
I
MARS Bth, l952. Page
TheMoard of Oommissioners of Salt Lake City met in regular session at /0:0-0
MayoorrwMarone in•'the chair.
On roll dell the f'ollneing>-meebers were preesat: ,Harry L. Fincb,'Commissioner•
,of Parks & Public Property;, Ceprge B. Keyser, Commissioner of Water Supply &:',
Waterworks, ' John M. Knight,-Commissioner of Public Safety; Joseph H. Lake,
Commissioner,pf Streets & Public Improvyments and;Loui33.Maxcus, (' nissioner
of Pub.lio Affei is f& Finaxt.e, Bhairean.. '.
Mr. Marcus moved that the offer of purchase of $50,000.00 "
Salt Lake City Sewer Bonds for par and interest for 4 •"hesda dated.hacember- '
15tt}t 181, as made by`the Rxst;3ecurikg Company and Mlward 4.,,Burton &
Company as fiscal agents, be accepted, aaid.bonds to be accompanied by the
approving opinion of Thomson, Wood and fiOffinen of New York City, which motion
I carried, all members voting aye.
itesolution No. ]0by Mayor Marcus.
WBARLAS, by the result of a special election duly called and
r.. " held'n Salt Lake City, on Tuesday the 27th day of October A. D., 19510aid
▪ +4 iwas authorized and empowered to issue and sell $600,000.00 Sewer Bonds
storm
40'.the purpose of supplying said City with a genera:Vend drainage sewer and
'.increasing, nniArging," extending and perfecting the present storm and drainage,:.
(' • sewer system of Salt Lake City, said sewer and sewer system to be owned and
� controlled'by Said Municipality, and
WURSAS',"hy ordinance duly passed by._the Board of Commissioners
of Salt Lake sty,®'Utah, on the.16th day of December, 1931, there was
authorized the"issua&ce<of"maid $600,00.0.00 bonds for the purpose aforesaid,
said bonds to'bl,issued ;and sold in such amounts and at such times""and bearing
! Such rates',of interest as the Board of Commissioners may thereafter determine,. '
and
_ 1 _
WHdhEAS, there has heretofore been authorized the issuance
jIand Sale of bonds in the.amount of $200,000.00 of said:issue maturing
December 15th, 1951, being bonds Nos. 401 to 600, both inclusive; bonds in
the amount of $100,000.00 of'said issue maturing $25,000.00 on December 15th,
in each of the years 1942 to1945,, inclusive, being bonda:'Nos. 1 to 100, both
inclusive, and bonds in the.amount of $25,000.00 of said .issue maturing
December 15th, 1946, being bonds Nos. 101'to 125, both inclusive, -and
WHEREAS, it is now necessary to raise additional funds in
the amount of $50,000.00 for the purpose aforesaid, and' .
WHEREAS, the First Security Company and Edward L. Burton &
Company as agents for Salt Lake City, have -sold $50,000,00 of said Bonds
maturing $25,000.00 on December 15th in each of the.years 1947 and 1946,"
being bonds Nos. 126 to 175, both inclusive, as authorized in said ordinance
passed on the l6th day of;December, 1904.bearing interest at the rate of
4 per annum at a price of par plus accrued interest satisfactory to'thie
Board, Whioh offer is the beet and moat adVantageoua'offer.received for said
bonds and it is deemed for the best interests of said City that said offer
be accepted which',pt<fer m in substantigl q t1(ie .'o11oid t form,-to-wit:
Honorable Board of City Commissioners, .
Salt Lake City,
-Utah.
Gentlemen:
Aa agents of'.Salt Lake City we have sold for delivery at such .
banking point to be designated later, $50,000.00 Salt.Lake City Sewer Bonds.
bearing interest at the rate of 4 per annum dated Decetber 15th, 1951,,due
and payable $25,000 on December 15th in each of thejsars 1947'and 1946, as
described in an ordinance passed by the Board of,Commissioners of Salt Lake
City on December 16th, 1931, at a price of par and interest.
The bonds are to be accompanied by the approving legal
opinion of Thomson, Wood and Hoffman of New'York City, whose opinion is to be -
-
delivered to us together with the bonds, which are to be delivered without
Undue or unnecessary'delay.'
{ This offer is for immediate acceptance Only.
Respectfully eubmi.tted,
FIRST SECURITY COWAN!'
•
EDWARD L. BURTON & COMPANY
By.L.,P. VanVgorhls,:V•iee-President',
2 - First SecurityxCompai
j NOW, THERI.1,04;,BE IT'RBSOLVED that there shall be issued
fj
jr$50,000.001of said'Sal rake City Sewer Bonds,Series of'pebember 15th, 1931,
o
o being bonds;Non. 126 to 175, iSic Usive, due and Payable 05,000.00 on ,
a.cember 15th in each of the years 1947 and 1948, which bonds shall.bear
1 interest at the rate of 44N per annum,and
BE,IT FURTHER Rk5OLVE[)that the City Treasurer be and is
IIhereby"authorized and directed to deliver said•bonds to the order bf said
' 1 First Security Company and Edward L. Burton & Coe}pany,,at such banking point
' l-as they may,designate upon'receipt of the purchase price therefor in the SUM' '
' of $50,000.00.
1 It is necessary in the;opinion of.the Board of Commissioners
t for the peace, health and safety of the inhabitants of,6aid Salt.Lake City,
1 Utah, that this resolution take effect upon its.pas9age.
1 This resolution:&hall'tctnupo fts adoption. 1,I
/;I�"
Mayor
Adopted by the Board of Commissioners of Salt Lake City,' -
Ntah, March1. ';,19b2..
Mayor,
o
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ty Reebrder -
S .. I i,
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{ Mr. Marcus moved, seconded by Commissioner 7 ti1
that the foregoing resolution be and the same is hereby adopted, which motion
carried, on the following roll call'rbte: ' .
Commissioner Louis Marcus,,Mayor. "Aye"
Comwissioneg Jos. H. Lake "Aye"
1 ' Commissioner. Harry L. Finch . - "Aye"'
1 EBmmissioner Geo. D.'Keyser "Aye"
Commissioner John M.:Knight-, '"Aye"
7.1
On--motion of Commissioner ' =1___ the Boardo
. Eof Commissioners adjourned, all members voting sie.