11 of 1931 - A resolution authorizing the borrowing of $100,000.00 from Walker Bank and Trust Company and the iss REMARKS:
Resolution No......
By Commissioner....liO':..T1_lYl...._.......__......__.................... j
I
Authorizin„ the borrovin
H of ,r1OC;,000.CO from -,fa.11:er Bank
Zs Tr,Co, stnd the issuance a a 1-
j
hproi:Yissory note v:ith i Yitcrent c11
I'the rate o_ per annum, for
'the puriDose of enlcrhing the
I't.cter::or7te syutei-i of nit L,ke
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Ci ty .
F,,. d to'the Ruud of Dm-m 3840s •
ANT) PASSE
1`,',:�i 15 1931
CITY RECORDER
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$ 100,000.00.. Salt Lake City, $tah.
May , 1931.
On or before January 15, 1932, SALT LAKE CITY, a municipal
corporation of the State of Utah, promises to pay to the order of
WALKER BANK & TRUST COMPANY, the sum of One Hundred Thousand
(4100,000.00) Dollars, with interest at the rate of four and one—
half per cent (4%) per annum from date hereof until paid.
This note is made, executed and delivered for the purpose
of securing money to extend, increase, augment and enlarge the water
supply and waterworks system of Salt Lake City and is within the law—
ful debt limits of said city and is made and executed according to
law and all necessary procedure for its execution and delivery has
been performed, and it is within the current revenue of said city for
the year 1981.
SALT LAKE CITY,
By
Mayor.
Attestt
City Recorder.
I hereby certify that the above indebtedness is
within the lawful debt limits of Salt Lake City,
Utah, and is issued according to law.
City Recorder.
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VOTING AYE NAY Salt Lake City,Utah, May 15, 1974,..
Burton I move that the resolution be adopted.
Fehr - iW2
Finch - y \� M�
Lake
Mr.Chairman - +'
RESOLUTION
Result -
V,HEBLAS, an emergency exists and it is necessary to
the welfare of the peace, safety and health of the inhabitants
of Salt Lake City that the water supply and waterworks system
of Salt Lake City be immediately augmented, increased, extended
and enl r-ed; and
HLLLLCS, it is a corporatepurpose to improve the water
supple and waterworks system of Salt Lake City as aforesaid and
the treasury of Salt Lake City has not the immediate funds necessary
for said purposes and it is necessary in the aforesaid emergency
and for the aforesaid purposes to immediately borrow One Hundred
Thousand (?100,,000.00) Dollars; and
IIHLR AS, the said sum of One Hundrec Thousand ($100, 00.00)
Dollars when borrowed will be within the lawful debt limits of Salt
Lake City, and within the current revenue for the year 1931.
NOV;, THEREFORE, BE IT RLSOLVLD that Salt Lake City immed-
iately borrow from i;alker "+ank & Trust Comnany of Salt Lake City,
Utah, the sum of One Hundred Thousand (a00,000.00) Dollars and that
the Mayor and City Recordet are hereby authorized to make execute
and deliver the promissory note of Salt Lake City payable to said
Talker Bank & Trust Company on or before January 15, 19^2, with in—
terest at the rate of four and one-half (W)per cent per annum until
paid.
In the opinion of the Board of Commissioners, it is neces—
sary to the peace, health and safety of the inhabitants of Salt Lake
-2-
City that this resolution take effect upon its passas,e.
,, This resolution shall take effect uoon its adoption.
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Cdoltei 'oy the hoard of Commissioners of Salt Lake City,
Utah, this _ I,hdav of _ , 19b'1•
1S-1'—f-A1-1"--.4-4-4"`l
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Mayor.
City ?,ccorler.
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