11 of 1923 - A resolution refunding $500,000.00 bonds dated January 1, 1904, numbered 1 to 548 inclusive, with in REMARKS: Resolution No.
By Commissioner Green.
Refunding $500,000.00 bonds
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dated January let, A.D. 1904
° numbered 1 to 548 inclusive,
with interest at 4+ per cent
per annum.
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ROLL CALL
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VOTING AYE NAY Salt Lake City,Utah, N.ii:i Aa 19zf ,192
Barnes I/; 11
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Burton 1 I move that resolution No. 1 by Mr.
/ be adopted. • .
Green
:::airman / 1
Result _1
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iv OVETO3ER 13 th. , 1923.
The Board of Commissioners of Salt Lake City, met in regular session, Mayor
Neslen in the chair.
On roll call the following members were present:
Commissioner C. Clarence Ndslen, Commissioner of Water Supply
and Waterworks, Chaff,
Commissioner Arthur F. Barn8 , 0 issioner of Public safety,
Commissioner T. T. Burton, Commissioner of Public Streets
and Public Improvements,
Commissioner H. H. Green, Commissioner of Public Affairs
and Finance.
Commissioner Dr. R. M. Stewart, Commissioner of Parks and
Public Property.
The following resoiutIon was then introduced by Commissioner Green
R E S 0 ICU T I_0 N.
WHEREAS, pursuant to an ordinance duly passed, made and entered by
the City Council of Salt Lake City, on the 4th day of April, A. D. 1904, and
221 approved by the Mayor on April ?thy A. D. 1904, said City Council issued and
sold Five Hundred and forty-eight (548) bonds of the denomination of 1,000.00
each, aggregating the principal sum of Five Hundred and forty-eight Thousand
Dollars ($548,000.00) said bonds being dated January 1st, A. D. 1904, numbered
from 1 to 548 inclusive, payable twenty years after date thereof, with inter-
est thereon at the rate of four and one half per cent (4i%) per annum payable
g semi-annually on the first days of January and July in each year, the nrincipa
of said bonds being payable at Walker Brothers Bank in Salt Lake City, or at
the Importers and Traders National Bank in New York City, at the option of the
holder, which said bonds were issued for the purpose of redeeming, refunding
and paying off a prior issue of bonds of said Salt Lake City, dated July 1st,
1892, numbered from 1 to 523 inclusive and from 576 to 600 inclusive, issued
for the purpose of obtaining money for permanent improvements and for other
1 corporate purposes; and,
t'HEBEAS, Forty eight Thousand Dollars ($48,000.00) of said refunding bonds
dated January 1st, 1904, have been.heretofore purchased, redeemed and duly
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cancelled by said Salt Lake City, and,
WHEREAS, the remainder of said refunding bonds, amounting to 4500,000.00,
dated January 1st, A. D. 1904, will become due and payable on the first day of
January A. D. 1924, being the entire balance thereof and numbered from 1 to 10
inclusive, and from 41 to 305 inclusive, and from 324 to 548 inclusive, and,
WHHRRLS, it Will become necessary to issue refunding bonds in,the said sum
of Five Hundred Thousand Dollars 4500,000.00) for the purpose of obtaining
money with which to redeem, refund, .and retire 4500,000.00 bond issue, dated
January 1st, A. D. 1904 and becoming due and payable January 1st, A. D. 1924,
and,
WHEREAS, it is the purpose of the Board of Commissioners of said Salt Lake
City, to issue and sell bonds to pay off, redeem and refund all of said bonds,
maturing January 1st, A. D. 1924, amounting in the aggregate to Five Hundred
Thousand Dollars (4500,000.00),
NOW THEREFORE BE IT RESOLVED, by the Board of Commissioners of Salt Lake
'City, that the City Recorder of said City be and he is hereby authorized and
directed to cause to be published in The Bond aver a daily
riNew York
ewspaper printed and published in and of general circulation in aaii'Eaitxkake
City, notice of intention of said City, to issue, negotiate and sell the refund-'
ing bonds of said City, amounting in the aggregate to Five Hundred Thousand
Dollars (:500,000.00) for the purpose of paying off, redeeming and refunding sa_d
hands-, dated January 1st, 1904 and payable January lst, 1924, which publication
shall be for a period of five days in five successive
issues thereof and which said notice shall be in substantially the following
form:.
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NOTICE OF SALE OF SALT LAKE CITY.
* REFUNDING BONDS *
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PUBLIC NOTICE IS KERRBY GIVEN THAT SALT.LAHE CITY, UTAH, proposes
to issue and sell Five Hundred Thousand,Dollars ($500,000.00) Refunding Bonds
dated January let,.1924, maturing serially, Twenty-five Thousand Dollars on
the first day of January,A. 3D.. 1925, and Twenty-five Thousand Dollars on the
first day of each succeeding January thereafter, up to and including January
let, 1944. Said bonds to be of the denomination of One Thousand Dollars
($1,000.00) each, begring interest at the rate of five per cent per annum,
payable semi-annually, both principal,and interest payable at the National
Park Bank, in New York City, N. Y.,
All bids must be sealed in an-envelope, marked on the outside,
,' "Bid on'Refunding Bonds". All bids must be accompanied by a certified Check..
on a reliable bank or trust company,.for ;5,000.00, payable to Salt Lake City
Corporation, as evidence.of good faith.
The proceeds prom the sale of said bandamust be available to.Salt, "
Lake City, not later than the first day of January A. D. 1924, for the purpos.
of retiring, refunding and cancelling an equivalent amount of outstanding
bonds, maturing on said January 1st, 1924.
No bids for less than par and accrued interest will be received or
considered, by the Board of CenAnissinies.The City reserves the right to reject
• any or all bids. The City will furnish the approving-opinion of Mr. John C.
Thompson of New York City,.without cost to the purchaser.
Bids must be received by the City Recorder not lgter.,than ten e'ela. .
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A. M. on.Thursday, December lath, 1.9fl1, Bids will be opened by the Board of
Commissionersat its meeting at 10 o'clock A. 1fd., on December
1Jt ,'1925..
By order'of the Board' Of Commissioners of Salt Lake. City, Utah.
Dated this 1.th day Of November, A. D. 1923.
By W. A. .Leatham
-3- (SEAL) City Recorder ,
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Commissioner T. T. Burton seconded the adoption of said resolu-
Iytion and said motion on being put to a vote was unanimously carried by the affir-
mative vote of all Commissioners present, the vote being as follows:
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Mayor Neslen "Aye"
Commissioner Barnes "Aye"
Commissioner Burton "Aye"
Commissioner Green "Aye"
Commissioner Stever "Aye"
ADC'ID AND APPROVED this 13th day of November, A. D. 1923.
or
Attest:
City Recorder.
'(SEAL)
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STATE OP UTAH )
SALT LAKE COU'TY (SS.
SALT LAKE CITY )
I, Cl. A. LEATHAM., the duly chosen, qualified and acting City Re-
corder of Salt Lake City, Utah, do hereby certify that the above and foregoing
constitutes a full, true and correct copy of the minutes of a regular meeting
of the Board of Commissioners of Salt Lake City, Utah, held pursuant to due,
legal and timely notice served upon all members as required by law and rules
and ordinances of said City, at the regular meeting place of said Board on
Tuesday the Pith day of November, A. D. 1923, in so far as they
refer to or concern the offer to sell the refunding bonds of said City, as
specified in said notice of sale, as the same appear of record in my office;
that I personally attended at said meeting and that the foregoing proceedings
were in fact held as set forth in said minutes.
IN WITNESS CJHKREOF, I have hereunto set my hand and affixed the
corporate seal of said City this 13th day of November , ,. D. 1923.
City Recorder.
(SEAL)
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