18 of 1932 - A resolution authorizing the issuance of Salt Lake City Sewer Bonds in the sum of $125,000.00, Serie REMARKS: , s7
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Iution No. is
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Authorzzin issuance of
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ROLL CALL
_ VOTING AYE NAY 141.5 It11 e City,Utah, C416,:ik 1 7 1932,,
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Finch 1
I move that resolution gtei _to by Mr 2.4.4vicre144..
Keyser be adopted. ..--- --)
Knight .--
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Mr.Chairman
Result
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April 27111932, at 10 A. M.
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'1 April 27th, 1932. pie 284
The Board of Commissioners of Salt Lake City met in regular
session at 10 O'clock A. M.
Mayor Marcus in the chair.
{ On roll call the following members were present:
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i; Harry L. Finch, Commissioner of Parka & Public Property.
George D. Keyser, Commissioner of Water Supply & Waterworks.
John M. Knight, Commissioner of Public Safety.
Joseph H. Lake, Commissioner of Streets & Public
j! Improvements
Louis Marcus, Commissioner of Public Affairs & Finence,
Chairman.
Mr. Marcus moved that the offer of purchase of $125,000.00
Salt Lake City Sewer Bonds for par and interest for 4-1 bonds
g dated December 15th, 1931, due December 15th, 1951, as made by the First Security
,; Company and Edward L. Burton
and Company, as fiscal agents, be accepted, said bonds to be accompanied by
the approving opinion of Thomson, Wood and Hoffman of New York City, which
motion carried, all members voting aye.
Resolution No. 1 by Mayor Marcus.
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WHEREAS, by the result of a special election duly called and
held in Salt JAke City, on Tuesday the 27th day of October A. D., 1931, said
City was authorized and empowered to issue and sell $600,000.00 Sewer Bonds
for the purpose of supplying said City with a general and drainage sewer and
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creasing, enlarging, extending and perfecting the present storm and drainage
1 sewer system of Salt Lake City, said sower and sewer system to be owned and
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controlled by said Municipality, and
WHEREAS, by ordinance duly passed by the Boti•d of Commissioners
of Salt Lake City, Utah, on the 16th day of December, 1931, there was
authorized the issuance of said $600,000.00 bonds for the purpose aforesaid,
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A. said bonds to be issued and sold in such amounts and at such times and bearing
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f such rates of interest as the Board of Commissioners may thereafter determiui
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WHEREAS, there has heretofore been authorized the issuance and sale
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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
1 $100,000.00 of said issue maturing $25,000.00 on December 15th, in each of
the years 1942 to 1945, inclusive, being bonds Nos. 1 to 100, both inclusive;
bonds in the amount of $25,000.00 of said issue maturing December 15th, 1946,
being bonds Nos. 101 to 125, both inclusive, and bonds in the amount of
$50,000.00 of said issue maturing $25,000.00 on December 15th in each of the
years 1947 and 1948, being bonds Nos. 126 to 175, both inclusive, and
WHEREAS, it is now necessary to raise additional funds in the amount
t of $ 125,000.00 for the purpose aforesaid, and
WHEREAS, the First Security Company and Edward L. Burton & Company
as agents for Salt Lake City, have sold 0125,000.00 of said Bonds, maturing
December 15th, 1951, being bonds i`os. 276 to 400, both inclusive,
as authorized in said ordinance
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passed on the 16th day of December, 1931, bearing interest at the rate of
per annum at a price of par plus accrued interest satisfactory to
this Board, which offer is the best and most advantageous offer received for
said bonds and it is deemed for the best interests of said City that said
( offer be accepted which offer is in substantially the following form, to-wit:
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it Honorable Board of City Commissioners,
Salt Lake City,
11 Utah.
j; Gentlemen:
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As agents of Salt Lake City we have sold for delivery at such
4 banking point to be designated later, >a 125.000.00 Salt Lake City
11 Sewer Bonds bearing interest at the rate of 4' % per annum, dated December 15,195]
� due and payable December 15th, 1951,
4 as described in an ordinance passed by the Board of Commission:.
ers 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
3 delivered to us together with the bonds, which are to be delivered without
31 undue or unnecessary delay.
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This offer is for immediate acceptance only.
Respectfully submitted,
FIRST SECURITY COMPANY
EDWARD L BURTON & COMPANY
j By L. P. VanVoorhis, Vice-President
� First Security Company
NOW, THEREFORE, BE IT RESOLVED that there shall be issued $125,000.00
of said Salt Lake City Sewer Bonds, Series of December 15th, 1931,
Nos. 276 to 400, both inclusive, payable being bonds due and P yable on
11 December 15th, 1951, which bonds shall bear interest at the rate of 4
kper annum, and
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ifBE IT FURTHER RESOLVED that the City Treasurer be and is hereby
ji authorized and directed to deliver said bonds to the order of said First
}{ Security Company and Edward L. Burton & Company at such banking point
d as they may designate upon receipt of the purchase price therefor in the sum
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of ; 125,000.00.
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'' It is necessary in the opinion of the Board of Commissioners for the
1.1 peace, health and safety of the inhabitants of said Salt Lake City, Utah,
1i that this resolution take effect upon its paasagew
;} This resolution shall take effect u cip,its ad ion.
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- 5 - Mayor
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Adopted by the Board of Commissioners-of Salt Lake City, Utah,
April 9,,7 ! 1932.
Mayor
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City Recorder
, (SEAL)
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{ Mr. /V'i()1/I!/✓t4 moved, seconded by Commissioner ( /1/! _,
'1 that the foregoing resolution be and the same is hereby adopted, which motion
carried, on the following roll call vote:
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Commissioner Louis Marcus, Mayor "Aye"
Commissioner Jos. H. Lake "Ape"
Commissioner Harry L. Finch "Aye"
Commissioner Geo. D. Keyser "Aye"
Commissioner John M. Knight "Aye"
On motion of Commissioner 1�1 ✓� /Y the Board of
Commissioners adjourned, all members voting aye.
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STATE OF UTAH
) SS.
COUNTY OF SALT LAKE)
I, Ethel Macdonald, the duly chosen, qualified and acting City
Recorder of Salt Lake City, Utah, do hereby certify that the above and
iI foregoing constitutes a full, true and correct copy of the minutes of a
regular meeting of the Board of Commissioners of Salt Lake City, of which
'! all members had due, legal and timely notice as required by law and the
rules and ordinances of said City, held at the regular meeting place of said
;i Board on the 27th day of April, A. D. 1932, insofar as the same refer to
or concern the issuance and sale of $125 000.09
v� � Salt Lake City Sewer
Bonds of said City, es the same appears of record in my office; that I
personally attended at said meeting and that the foregoing proceedings were
'1 in fact held as in said minutes specified.
IN aITNYSS WHEFEOF, I have hereunto set my hand and affixed the
corporate seal of said City this 27th day of April, A. D. 1932.
.tr 'y �y P.
A)) /WVI!'.11)1.)
City Recorder
Salt Lake City, Utah.
(scar,)
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STATE OF UTAH )
) SS.
COUNTY OF SALT LAKE)
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I, Ethel Macdonald, the duly appointed, cualified and acting City
Recorder of Salt Lake City, Utah, do hereby certify as follows:
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1. That Salt Lake City is a City of the first class, duly organized
and existing under and in accordance with the laws of the State of Utah.
2. That the names of the members of the Board of Commissioners and
other Municipal Officers of said Salt Lake City are as follows:
1 Mayor, Louis Marcus, Term Expires January 6th, 1936
Commissioner, Jos. H. Lake, Term Expires January 1st, 1954
Commissioner, Harry L. Finch, Term Expires January 1st, 1934
Commissioner, George D. Keyser, Term Expires January 6th, 1936
Commissioner, John M. Knight, Term Expires January 6th, 1936
City Recorder, Ethel Macdonald , Term Expires When successor is
appointed and confirmed.
i' City Treasurer, Milton E. Lipman, Termra co�cpirena,i ynpi.succensor is appoint-
I' e. a
i City Auditor, Samuel F. Nicholls, Term Expires January 1st, 1934
I' 3. That the regular meetings of the Board of Commissioners are held
as follows:
Every Tuesday at 10 o'clock A. M.
Every Tuesday at 5:15 o'clock P. M.
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it Every Wednesday at 10 o'clock A. M.
Every Thursday at 10 o'clock A. M.
4. That there is no litigation pending or threatened affecting in
i any way the legality of the Six Hundred Thousand Dollars ($600,000.00) issue
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of Salt Lake City, Utah, bonds authorized at a special election held within
said City, October 27th, 1931, and are to be issued for the purpose of
11 supplying the said City with general storm and drainage sewer and increasing,
enlarging, extending and perfecting the present storm and drainage system of
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Salt Lake City, or the boundaries of said City or the title to office of
any of the officers thereof.
That said Ethel Macdonald as City Recorder and Milton E. Lipman as City
Treasurer are each of them now in office performing the duties thereof and
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ji that the right of them or either of them to hold such office has never been
questioned and is not now being contested.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the corporate
seal of said Salt Lake City, this 27th day of April, A. D. 1932.
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ii City Recorder,
Salt Lake City, Utah.
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(SEAT)
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