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101 of 1981 - Adopting Resolution 100 of 1981 providing for the issuance of water and sewer bonds; and Resolution Resolution No. 101 By Report 181 of 1981 Public Utilities = 1 Authorizing the issuance and sale of five million dollars of water and sewer revenue bonds, Series A-1981 , to the State of Utah, Department of Natural Resources for the construction of Victory Road Reservior and pipe- line. [WATER RESOURCES] SALT LAKE CITY, UTAH Supplemental Resolution No. Authorizing the Issuance and Sale of $5, 000,000 Water and Sewer Revenue Bonds , Series 1981 Adopted November 3, 1981 • TABLE OF CONTENTS ARTICLE I DEFINITIONS Section Page 101 . Definitions 1 102. Authority for Series 1981 Supplemental Resolution 2 ARTICLE II AUTHORIZATION, TERMS AND ISSUANCE OF SERIES 1981 BONDS 201 . Authorization of Bonds, Principal Amount, Designation and Series 2 202 . Purpose 2 203 . Issue Date 2 204 . Series 1981 Bonds 2 205 . Denomination and Numbers 3 206 . Paying Agent 3 207 . Optional Redemption and Redemption Price 3 208 . Sale of Series 1981 Bonds 4 209 . Delivery of Series 1981 Bonds 4 210 . Further Authority 4 ARTICLE III ESTABLISHMENT OF SERIES 1981 PROJECT ACCOUNT AND APPLICATION OF SERIES 1981 BOND PROCEEDS AND OTHER MONEYS 301 . Interest During Construction 4 302 . Debt Service Reserve Account 4 303 . Establishment of Series 1981 Project Account 4 ARTICLE IV FORM OF SERIES 1981 BONDS 401 . Form of Fully Registered Bond 5 Section Page ARTICLE V APPOINTMENT OF THE TRUSTEE 501 . Appointment of the Trustee 12 ARTICLE VI MISCELLANEOUS 601 . Arbitrage Covenant 12 602 . Effective Date 13 ii RESOLUTION NO. I b A RESOLUTION Authorizing the Issuance and Sale of $5 ,000,000 Water and Sewer Revenue Bonds , Series 1981 , of Salt Lake City, Utah. * * * * * * WHEREAS, on Ooto4..e-r 27, 1981 , the Municipal Council of Salt Lake City, Salt Lake County, Utah ( "City" ) , adopted a Resolution No./(1() Providing for the Issuance of Water and Sewer Revenue Bon s "Resolution" ) ; and WHEREAS, in order to obtain funds with which to acquire a project consisting of improvements and extensions to the System, it is deemed necessary and advisable to issue a series of Water and Sewer Revenue Bonds of the City as hereinafter provided; NOW, THEREFORE, Be It Resolved by the Municipal Council of Salt Lake City, Salt Lake County, Utah, as follows : ARTICLE I DEFINITIONS 101 . Definitions . (a) Except as provided in subparagraph (b) of this Section, all defined terms contained in the Resolution when used in this Series 1981 Supplemental Resolution shall have the same meanings as set forth in the Resolution. (b) As used in this Series 1981 Supplemental Resolution, unless the context shall otherwise require, the following terms shall have the following meanings : "Board" shall mean the State of Utah Department of Natural Resources, Board of Water Resources . "Fully Registered Bond" shall mean the single Fully Registered Bond in the denomination equal to the aggregate amount of the Series 1981 Bonds . "Installment" shall mean the amount of the Series 1981 Bonds due in any one year, whether represented with other Installments by the Fully Registered Bond , or by Coupon Bonds . "Registered Installment" shall mean an Installment represented by the Fully Registered Bond . "Series 1981 Bonds" means the Series of Bonds of the City authorized by this Series 1981 Supplemental Resolution. "Series 1981 Project" means the acquisition of improvements and extensions to the System consisting of the construction of a 12 million gallon distribution reservoir to be located on Victory Road together with a supply main extending westward to Salt Lake International Airport and the acquisition of all necessary land, together with all necessary equipment and appurtenances . "Series 1981 Suppiniental Resolution" means this Supple- mental Resolution No. / ( of the City adopted on Octobcr 27 , 9-8± authorizing the Series 1981 Bonds . The terms "hereby", "hereof" , "hereto" , "herein" , "here- under" , and any similar terms as used in this Series 1981 Supplemental Resolution, refer to this Series 1981 Supplemental Resolution. 102 . Authority for Series 1981 Supplemental Resolution. This Series 1981 Supplemental Resolution is adopted pursuant to the provisions of the Act and the Resolution. ARTICLE II AUTHORIZATION, TERMS AND ISSUANCE OF SERIES 1981 BONDS 201 . Authorization of Bonds, Principal Amount, Designation and Series. In order to provide sufficient funds to acquire the Series 1981 Project and in accordance with and subject to the terms, conditions and limitations established in the Resolution and this Series 1981 Supplemental Resolution, a series of Water and Sewer Revenue Bonds is hereby authorized to be issued in the aggregate principal amount of $5 ,000,000. Such Series of Bonds shall be designated "Water and Sewer Revenue Bonds , Series 1981" . 202 . Purpose . The purpose for which the Series 1981 Bonds are being issued is to pay the cost of the acquisition of the Series 1981 Project. 203 . Issue Date . The Series 1981 Bonds shall be dated December 1, 1981. 204 . Series 1981 Bonds . The Series 1981 Bonds shall mature in fifteen ( 15) annual Installments on the dates and in the principal amounts and shall bear interest from the date of delivery of and payment for the Series 1981 Bonds, payable on the March 1 next succeeding the date of issue and annually thereafter on March 1 in each year at the rate of 6-5/8% on the "Total Principal Sum" set forth in the form of Fully Registered Bond from the dates of payment -2- of principal made by the Board, as recorded in the Certificate of Dates of Payment and Amount set forth on the reserve side thereof : March 1 Amount March 1 Amount of the Year Maturing of the Year Maturing 1983 $ 205,000 1991 $ 342, 000 1984 219, 000 1992 365,000 1985 233, 000 1993 389,000 1986 249, 000 1994 414, 000 1987 265 ,000 1995 441,000 1988 283, 000 1996 470,000 1989 301,000 1997 503, 000 1990 321,000 205. Denomination and Numbers. The Series 1981 Bonds shall be initially issued as a single Fully Registered Bond without coupons in the denomination of $5,000,000, numbered R-1. 206 . Paying Agent. The Trustee is hereby appointed the Paying Agent for the Series 1981 Bonds , subject to Section 7. 02 of the Resolution. Principal, interest and Redemption Price on the Series 1981 Bonds shall be payable at the principal corporate trust office of the Trustee in Salt Lake City, Utah, or of its successor as Paying Agent. Payment of interest on the unpaid principal of the Fully Registered Bond shall be made by check or draft mailed to the registered holder at its address shown on the registration books of the Trustee, and payment of each Registered Installment on the due date thereof shall be made to the registered holder or its legal representative upon presentation of the Fully Registered Bond at the principal corporate trust office of the Trustee, who shall note on the Payment Record attached to the Fully Registered Bond the date and amount of payment of each Registered Installment of principal and interest then being paid and of interest theretofore paid and not yet noted thereon; provided, as long as the Board is the registered holder of the Fully Registered Bond, payments of principal and interest shall be made by check or draft drawn on the Trustee and mailed to the Board as the registered holder at the address shown on the registration books maintained by the Trustee. 207. Optional Redemption and Redemption Price. Each Installment is subject to redemption, in whole or in part in multiples of $100, at the election of the City in inverse order of maturities on any interest payment date, upon notice as provided in Section 4. 03 of the Resolution, and at the Redemption Price (expressed as a percentage of the principal amount of each Series 1981 Bond to be so redeemed) of 100%. -3- 208 . Sale of Series 1981 Bonds . The Series 1981 Bonds authorized to be issued herein shall be sold to the Board at an aggregate price of $5 , 000, 000. 209 . Delivery of Series 1981 Bonds . The Series 1981 Bonds shall be delivered to the Board upon compliance with the provisions of Section 3 .02 of the Resolution. 210 . Further Authority. The Mayor, City Recorder, City Treasurer, Director of Public Utilities or other officers of the City are, and each of them is, hereby authorized to do or perform all such acts and to execute all such certificates, documents and other instruments as may be necessary or advisable to provide for the issuance, sale and delivery of the Series 1981 Bonds . ARTICLE III ESTABLISHMENT OF SERIES 1981 PROJECT ACCOUNT AND APPLICATION OF SERIES 1981 BOND PROCEEDS AND OTHER MONEYS 301 . Interest During Construction. The amount to be deposited from the proceeds of the Series 1981 Bonds into the Construction Fund to pay interest on the Series 1981 Bonds estimated to fall due during the period of construction of the Series 1981 Project, as set forth in the Engineer' s Certificate estimating the cost of construction of the Series 1981 Project and the estimated date of completion thereof as required by Section 2 .03 ( c) (1 ) of the Resolution, is $ 0 302 . Debt Service Reserve Account. The amount to be deposited from the proceeds of the Series 1981 Bonds into the Debt Service Reserve Account, is $ 0 303 . Establishment of Series 1981 Project Account. There is hereby established a Project Account in the Construction Fund designated as the "Series 1981 Project Account" , moneys in which shall be used for the purposes and as authorized by Section 5 . 03 of the Resolution. The Series 1981 Project Account shall con- stitute a "Supervised Bank Account" . In addition to the requirements of Section 5 .03(e) of the Resolution, each Written Request filed with the Trustee in order to obtain payments from the Series 1981 Project Account shall be approved in writing by an authorized representative of the Board. Delivery of installment checks by the Board for payment for the Series 1981 Bonds shall be deposited into the Series 1981 Project Account and shall be deemed for all purposes of the Resolution and the Series 1981 Supplemental Resolution to be in full satisfaction of payment , to that amount, of the proceeds of sale of the Series 1981 Bonds to the City. -4- The Trustee shall stamp or write the date of each payment made by the Board at the appropriate place on the Certificate of Dates of Payment and Amount appearing on the Fully Registered Bond. As payments are made by the Board they shall be deemed to represent Registered Installments in the order of their maturity. Upon the filing of the Engineer ' s Certificate as contemplated in Section 5 .04(i) of the Resolution, the Payment Record attached to the Fully Registered Bond shall be completed by the Trustee to provide for the cancellation of all or any part of one or more Registered Installments, in the inverse order of their maturity , shown on the Payment Record attached to the Fully Registered Bond equal to the amount of the principal of the Series 1981 Bonds , if any, which was not paid to the City by the Board, by reason of the fact that the acquisition of the Series 1981 Project was completed without the necessity of advancing such amount to the City. ARTICLE IV FORM OF SERIES 1981 BONDS 401 . Form of Fully Registered Bond. Subject to the pro- visions of the Resolution, the Fully Registered Bond shall be in substantially the following form, with such insertions or varia- tions as to any redemption or amortization provisions and such other insertions or omissions, endorsements and variations as may be required or permitted by the Resolution: [FORM OF FULLY REGISTERED BOND] UNITED STATES OF AMERICA STATE OF UTAH COUNTY OF SALT LAKE SALT LAKE CITY WATER AND SEWER REVENUE BOND, SERIES 1981 $5, 000,000 No . R-1 KNOW ALL MEN BY THESE PRESENTS that Salt Lake City (the "City" ) , a duly organized and existing municipal corporation and political subdivision of the State of Utah, located in Salt Lake County, Utah, acknowledges itself indebted and for value received hereby promises to pay, in the manner and from the source hereinafter provided, to the State of Utah Department of Natural Resources, Board of Water Resources, or registered assigns, the Total Principal Sum set forth in the "Certificate of Dates of Payment and Amount" set forth on the reverse side of this bond, but in no event more than a maximum principal amount of Five Million Dollars ($5, 000,000) , payable in -5- registered installments on March 1 of each of the years set forth below, together with interest on the Total Principal Sum from the dates of payment of principal made by the State of Utah Department of Natural Resources, Board of Water Resources , as recorded in the Certificate of Dates of Payment and Amount set forth on the reverse side hereof at the rate of six and five-eighths per cent (6-5/8% ) per annum. If the maximum principal amount is advanced, the repay- ment period and annual principal amounts of registered installments shall be as set forth in the following Repayment Schedule. If the total principal sum of this Bond is less than the maximum principal amount, the repayment period and annual registered installments shall be shortened and reduced in inverse order of maturities to correspond to the Total Principal Sum and the City shall make the payments stated for each year beginning with the first repayment year and continuing until the Total Principal Sum shall be paid in full. REPAYPMENT SCHEDULE Maturing Principal Amount Year of Registered Installment (March 1) 1983 $ 205, 000 1984 219, 000 1985 233,000 1986 249,000 1987 265, 000 1988 283, 000 1989 301, 000 1990 321, 000 1991 342, 000 1992 365, 000 1993 389, 000 1994 414, 000 1995 441, 000 1996 470, 000 1997 503, 000 The principal amount of this bond shall be the Total Principal Sum set forth in the Certificate of Dates of Payment and Amount. In no event shall the Total Principal Sum exceed the maximum principal amount of $5, 000, 000. This bond, as to principal, interest and redemption price when due, will be payable at the principal corporate trust office of First Security Bank of Utah, N.A . , in Salt Lake City, Utah, a paying agent of the City, or its successor as such paying agent, in any coin or currency of the United States of America which at the time of payment is legal tender for the payment of public and private debts; provided, however, payment of the semi- annual interest hereon shall be made to the registered holder and shall be paid by check or draft mailed to such registered holder at its address as it appears on the registration books of the Trustee. This bond is a special obligation of the City and is one of the Water and Sewer Revenue Bonds of the City ( "Bonds" ) issued -6- under and by virtue of the Utah Municipal Bond Act, Chapter 14 of Title 11 , Utah Code Annotated, 1953, as amended (the "Act" ) , and under and pursuant to the Resolution Providing For the Issuance of Water and Sewer Revenue Bonds of the City adopted on October 27 , 1981 (the "Resolution" ) , as the same from time to time may be amended or supplemented by further resolutions of the City, including the Supplemental Resolution authorizing the issuance of this Series of Bonds (such Resolution and Supplemental Resolution and any and all such further resolutions being herein collectively called the "Bond Resolution" ) , for the purpose of paying the costs of acquiring a Project consisting of improvements and extensions to the Water and Sewer System of the City, together with all necessary appurtenant facilities. The City is obligated to pay principal, redemption price of, and interest on this bond solely from the revenues and other funds of the City pledged therefor under the terms of the Bond Resolution. This bond is not a debt of the City within the meaning of any constitutional or statutory limitations of indebtedness. As provided in the Resolution, Bonds may be issued from time to time in one or more series in various principal amounts, may mature at different times, may bear interest at different rates, and may otherwise vary as provided in the Resolution, and the aggregate principal amount of Bonds which may be issued is not limited. All Bonds issued and to be issued under the Resolution are and will be equally and ratably secured by the pledge and covenants made therein, except as otherwise expressly provided or permitted in or pursuant to the Resolution. This bond is one of a Series of Bonds designated as "Water and Sewer Revenue Bonds, Series 1981" (herein called the "Series 1981 Bonds" ) , limited to the aggregate principal amount of $5, 000, 000, dated December 1, 1981, and duly issued under and by virtue of the Act and under and pursuant to the Bond Resolution. Copies of the Bond Resolution are on file at the office of the City Recorder in Salt Lake City, Utah, and at the principal corporate trust office of First Security Bank of Utah, N.A. , in Salt Lake City, Utah, as trustee under the Resolution (said trustee and any successors thereto under the Resolution being herein called the "Trustee" ) , and reference to the Bond Resolution and to the Act is made for a description of the pledge and covenants securing the Series 1981 Bonds, the nature, manner and extent of enforcement of such pledge and covenants, the terms and conditions upon which the Series 1981 Bonds are issued and additional Bonds may be issued thereunder, and a statement of the rights, duties, immunities and obligations of the City and of the Trustee. Such pledge and other obligations of the City under the Bond Resolution may be discharged at or prior to the maturity or redemption of the Series 1981 Bonds upon the making of provision for the payment thereof on the terms and conditions set forth in the Bond Resolution. To the extent and in the respects permitted by the Resolution, the Bond Resolution may be modified or amended by action on behalf -7- of the City taken in the manner and subject to the conditions and exceptions prescribed in the Resolution. The holder of this Series 1981 Bond shall have no right to enforce the provisions of the Bond Resolution or to institute action to enforce the pledge or covenants made therein or to take any action with respect to an event of default under the Bond Resolution or to institute, appear in, or defend any suit or other proceeding with respect thereto, except as provided in the Bond Resolution. This bond is transferable, as provided in the Bond Resolu- tion, only upon the books of the City kept for that purpose at the principal corporate trust office of the Trustee, by the registered owner hereof in person or by his attorney duly authorized in writing, upon surrender hereof together with a written instrument of transfer satisfactory to the Trustee, duly executed by the registered owner or such duly authorized attorney, and thereupon the City shall issue in the name of the transferee a new registered Bond or Bonds or, at the option of the transferee, a coupon Bond or Bonds with appropriate coupons attached, of the same aggregate principal amount and series, designation, maturity and interest rate as the surrendered bond all, as provided in the Bond Resolution and upon the payment of the charges therein prescribed. The City, the Trustee and any paying agent of the City may treat and consider the person in whose name this bond is registered as the holder and absolute owner hereof for the purpose of receiving payment of, or on account of, the principal or redemption price hereof and interest due hereon and for all other purposes whatsoever. The Bonds are issuable in the form of coupon Bonds in the denomination of $5, 000, and in the form of registered Bonds without coupons in the denomination of $5,000 or any integral multiple of $5 ,000. Coupon Bonds, upon surrender thereof at the principal corporate trust office of the Trustee, with all unmatured coupons and all matured coupons for which no payment or only partial payment has been provided attached, may, at the option of the bearer thereof, be exchanged for an equal aggregate principal amount of registered Bonds of the same series , designation, maturity and interest rate of any of the authorized denominations, in the manner, subject to the conditions and upon the payment of the charges provided in the Bond Resolution. In like manner, subject to such conditions and upon the payment of such charges , registered Bonds may, upon sur- render thereof at said principal corporate trust office with a written instrument of transfer satisfactory to the Trustee duly executed by the registered owner thereof, be exchanged for an equal aggregate principal amount either of coupon Bonds of the same series , designation, maturity and interest rate with appropriate coupons attached or of registered Bonds of the same series , designation, maturity and interest rate of any of the authorized denominations . Each installment of the Series 1981 Bonds is subject to redemption at the election of the City in inverse order of maturities on any interest payment date, in whole or in part in multiples of $100, upon notice given as hereinafter set forth, at a redemption price equal to the principal amount of each Series 1981 Bond to be redeemed, and accrued interest to the redemption date. -8- • Notice of redemption shall be given by the Trustee by publication at least once prior to the redemption date in a financial newspaper or journal of general circulation in New York, New York, such publication to be not less than thirty nor more than forty-five days before such redemption date and shall be sent by registered mail to Burrows, Smith and Company, Suite 1003, Kearns Building, Salt Lake City, Utah. If any Bond called for redemption is regis- tered as to principal or is fully registered , notice of redemption thereof shall also be mailed, not less than thirty nor more than forty-five days prior to the redemption date, to the registered owner of such Bond, but neither failure to mail such notice nor any defect in any notice so mailed shall affect the sufficiency of the proceedings for the redemption of any of the Bonds . If at the time of giving notice of redemption no Bonds are outstanding except Bonds registered as to principal or fully registered Bonds, publication of such notice shall be deemed to have been waived if such notice shall have been mailed to each registered owner of such Bonds at his address as it appears on the bond registration books of the Trustee, or at such address as he may have filed with the Trustee for that purpose, or otherwise as provided in the Bond Resolution, all in the manner and upon the terms and conditions set forth in the Bond Resolution. If notice of redemption shall have been given as aforesaid , the Series 1981 Bonds or portions thereof specified in said notice shall become due and payable at the applicable redemption price on the redemption date therein designated, and if, on the redemption date , moneys for the payment of the redemption price of all the Series 1981 Bonds to be redeemed, together with interest to the redemption date, shall be available for such payment on said date, then from and after the redemption date interest on such Series 1981 Bonds shall cease to accrue and become payable and the coupons for interest appertaining thereto maturing subsequent to the redemption date shall be void . Less than all of a registered Bond without coupons in a denomination in excess of $5,000 may be so redeemed, and in such case, upon the surrender of such Bond, there shall be issued to the registered owner thereof, without charge therefor, for the unredeemed balance of the principal amount of such Bond, at the option of such owner, either coupon Bonds or registered Bonds of like series , designation, maturity and interest rate in any of the authorized denominations , all as more fully set forth in the Bond Resolution. It is hereby certified and recited that all conditions, acts and things required by the Constitution or statutes of the State of Utah or by the Act or the Bond Resolution to exist, to have happened or to have been performed precedent to or in the issuance of this Series 1981 Bond exist, have happened and have been performed and that the issue of the Series 1981 Bonds, together with all other indebtedness of the City, is within every debt and other limit prescribed by said Constitution and statutes . -9- This Series 1981 Bond shall not be valid until the Certificate of Authentication hereon shall have been signed by the Trustee . IN WITNESS WHEREOF, SALT LAKE CITY, SALT LAKE COUNTY, UTAH, has caused this bond to be signed in its name and on its behalf by its Mayor, and its corporate seal to be impressed hereon, attested by its City Recorder and countersigned by its City Treasurer, all as of the first day of December, 1981 . SALT LAKE CITY, UTAH By Mayor ATTEST: City Recorder ( SEAL) COUNTERSIGNED By City Treasurer [FORM OF TRUSTEE 'S CERTIFICATE OF AUTHENTICATION] This bond is one of the Bonds described in the within mentioned Bond Resolution and is one of the Water and Sewer Revenue Bonds , Series 1981 , of Salt Lake City, Utah. Trustee By Authorized Officer -10- (Provision for Registration) This Series 1981 Bond has been registered as to principal and interest in the name of the holder hereof on the books of the Trustee as follows : Signature of Date of Registry Name of Registered Holder Trustee Payment Record Interest Payment (6-5/8% ) Name of Paying Agent and Signature and Title of Date Due Amount Date Paid Authorized Official CERTIFICATE OF DATES OF PAYMENT AND AMOUNT First Security Bank of Utah, N.A . , as Trustee, has received from the State of Utah Department of Natural Resources , Board of Water Resources, original purchaser of this Fully Registered Bond, the amount or amounts of the principal advances indicated below on the date or dates set forth opposite such amount (s ) ; that the amount last inserted under the column "Total Principal Sum" is the total amount received by the Trustee on behalf of Salt Lake City, . Utah, for the purchase of this Fully Registered Bond; that the Trustee has caused such certificate to be executed in the space -11- provided opposite such amount(s ) to evidence receipt of payment. Amount of Date of Total Prin- Signature and Title of Payment Payment cipal Sum Authorized Official of Trustee $ $ $ $ $ $ $ $ ARTICLE V APPOINTMENT OF THE TRUSTEE 501 . Appointment of the Trustee. For the benefit and protection of the Bonds and the holders of the Bonds and coupons from time to time, First Security Bank of Utah, N.A. , a bank having the powers of a trust company, doing business and having its principal corporate trust office in Salt Lake City, Utah, is hereby appointed as Trustee. The Trustee shall signify acceptance of the duties and obligations imposed upon it by the Resolution by executing and delivering to the City a written acceptance thereof prior to the delivery of the Series 1981 Bonds. ARTICLE VI MISCELLANEOUS 601 . Arbitrage Covenant. The Mayor, City Treasurer and Director of Public Utilities of the City are hereby authorized and directed to execute such certificates as shall be necessary to establish that the Series 1981 Bonds are not "arbitrage bonds" within the meaning of Section 103 (c ) of the Code and the regulations promulgated or proposed thereunder. The City covenants and certifies to and for the benefit of the purchasers of the Series 1981 Bonds that no use will be made of the proceeds of the issue and sale of the Series 1981 Bonds, or any funds or accounts of the City which may be deemed to be available proceeds of the Series 1981 Bonds , pursuant to Section 103 (c) (2) of the Code and applicable regulations (proposed or promulgated) under which, if such use had been reasonably expected on the date of issuance of the Series 1981 Bonds, would have caused the Series 1981 Bonds to be classified as "arbitrage bonds" within the meaning of Section 103 of the Code. Pursuant to this covenant, the City obligates itself to comply throughout the term of the issue of the Series 1981 Bonds with the requirements of Section 103 of the Code and the regulations proposed or promulgated thereunder. -12- 602. Effective Date. This Series 1981 Supplemental Resolution shall take effect immediately. ADOPTED AND APPROVED this 3rd day of November, 1981. riA/PLZA., Chairman of the Municipal Council, Salt Lake City, Salt Lake County, Utah Attested and Countersigned: ity Rey : •er, Salt Lake City, Salt Lake County, Utah [SEAL] Approved: - /I 7/„./ Mayor, alt Lake City, Salt Lake County, Utah -13- • • I, Kathryn Marshall, City Recorder of Salt Lake City, Utah, hereby certify that the foregoing resolution entitled "Supplemental Resolution Authorizing the Issuance and Sale of $5, 000,000 Water and Sewer Revenue Bonds, Series 1981" was duly adopted by the Municipal Council of Salt Lake City on November 3, 1981, and became effective as of said date, that said resolution has been compared by me with the original thereof, recorded in the minute book of the City and that it is a correct transcript of the whole thereof, and that said resolution has not been altered, amended or repealed but is in full force and effect. IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of said City this q'k^- day of W , 1981. y ecorder [SEAL] -14-