16 of 1920 - A resolution authorizing the issuance of certificates of indebtedness in the sum of $1,000,000.00 at •
REMARKS: - s e xr
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Iti�0 No,. i6
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;. i.. Sy+Coeewnu,oner...:...- Greer
witthopi,zing the issuance of
ttftcates of indebtedness
,1.n the sum of $1,000,000.00
•
si,t 8} percent interest per'.
`ahnum, payable December 31st,
1920.
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'-1
ROLL CALL
VOTING AYE NAY 0
/ Salt Lake City, Utah , 192
Burton V
Crabbe --- I move that the resolution be adopted.
Green ( ��
10/
Neslen
11
Mr. Chairman
Result I' RESOLUTION
WHEREAS, by motion duly adopted by the Board of Commissiondre of Salt Lake
City, on the 10th day of July, 1920, it was determined that said City borrow the
sum of One Million Dollare($1,000,000.00) at a rate of interest not to exceed eight
and one-half per cent (8-'g%) per annum, said sum to be payable on the 31st day of
December, 1920, and the execution of Certificates of Indebtedness of said City in
in said amount of One Million Dollars ($1,000,000.00) was, by said motion duly
authorized.
NOW, THEREFORE, Be It Resolved that Certificates of Indebtedness of said
City be issued in the following denominations, to-wit;-
140 Certificates of Indebtedness, numbered 10 to 149, both inclusive, in the sum of
$1,000.00 each, or a total of 4140,000.00
3 Certificates of Indebtedness, numbered 150 to 152, both inclusive, in the sum of
$25,000.00 each, or a total of $ 75,000.00
3 Certificates of Indebtedness, numbered 153 to 155, both inclusive, in the sum of
$50,000.00 each, or a total of 4150,000.00
1 Certificate of Indebtedness, numbered 156, in the sum of 0135,000.00,
1 Certificate of Indebtedness, numberod 157, in the sum of 4500,000.00.
A total of 41,000,000.00
That each of said Certificates of Indebtedness bear date the 15th day of
July, 1920, and shall be, except for the amounts, in substantially the following
form:
Note No
CERTIFICATE OF INDEBTEDNESS
$ Salt Lake City, Utah, July 15, 1920.
Or. December 31, 1920, for value received, Salt Lake City, a municipal corpora-
tion of the State of Utah, promises to pay to bearer at the National City Bank of
Salt Lake City Dollars, with interest at the rate of eight per cent
per annum from maturity hereof until paid.
It is hereby certified and recited that this note is given for money borrowed to
meet the ordinary current expenses of said City for this currant year, 1920, until the
payment of the taxes for the current year and that the aggregate indebtedness incurred
by said City for this current year, including this note, does not exceed the taxes for
this current year and that the borrowing of said sum and the execution of this note
have been authorized by resolution of the Board of Commissioners of Salt Lake City,
duly passed at a duly convened meeting thereof held on the 10th day of July, A.D.,
1920, under the provisions of Chapter 3 of Title 16, Compiled Laws of Utah, 1917.
It is also certified and recited that all conditions, acts, and things essential
to the validity of this certificate, exist, have happened, and have been done and that
every requirement of law affecting the issue thereof has been duly complied with and
that this certificate is within livery debt and other limit prescribed by the Con-
stitution and Laws of said State, and that the faith and credit of the City of Salt
Lake City are hereby irrevocably pledged to the punctual payment of the principal and
interest of this certificate according to its terms.
II
ROLL CALL
VOTING
AYE NAY Salt Lake City,Utah,______J'i1 _14 , 192._0...
Burtop
I Crabbe - I move that the resolution be adopted.
Green
Neslen •
Mr. Chairman — . .
-
1
Result 71
,I RESOLUTION
In witness whereof, the said City, by its Board of Commissioners, has caused this
note to be signed by the Mayor of Salt Lake City, and attested by the City Recorder
of said City, and the seal of said City to be affixed hereto, this 15th day of July,
A. D. 1920.
C. C. Neelen,
Actg. Mayor.
Attest:
W. A. Leathern,
(Seal) City Recorder.
I hereby certify that the within certificate of indebtedness ie within the lawful
debt limit of Salt Lake City, and is issued according to law.
H. S. McCann
City Auditor.
And Be It Further Resolved that the Mayor and City Recorder be, and they
are hereby authorized and directed to execute each of said Certificates of Indebted-
ness for and in the name of Salt Lake City, and under its corporate seal, and that
the City Auditor of said City certify upon each of said Certificates of Indebtedness
that the same is within the lawful debt limit of said City and is issued according
to law, and
Be It Fur ther Resolved that the City Treasurer be, and he is hereby
authorized and directed to deliver all of said Certificates of Indebtedness to the
Anglo and London Paris National Bank of San Francisco upon payment by said Bank
to the Treasurer of Salt Lake City of said sum of One Million Dollars ($1,000,000.00),
and there is hereby appropriated to said Anglo and London Paris national Bank of
San Francisco the sum of Thirty-Seven Thousand Five Hundred Fifty-Five Dollars,
Fifty-five Cents ($37,555.55) interest on said sum of One Million Dollars($1,000,000.00)
from the date of said Certificates of Indebtedness to December 31st, 1920, same to
be paid upon receipt of said One Million Dollars ($1,000,000.00).
(,---f)4/-4 ;27.'
Commissioner of Public Affairs and Finance.
Adopted ..y tl_e - Cc..._,int;ic.:er c S .lt L .'Ce City,, 'Ita}l,
this 14t_1 day 0 . July, A. _ . '-'20. a Q
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