2 of 1920 - A resolution accepting the bid of National City Company and Redmond Company of par and accrued inter REMARKS:
Resolution No. 2 : 1
*Fri Green i
fi., By Commissioner_... .__ • ,
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1 ! Accepting the bid of 1
rational City Co, a:d Redmond F� I
I I 1
Co. of par and accrued interest
for the $857,500 bonds offered 1
for sale on Feb. 5th, 1920.
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ROLL CALL
VOTING AYE NAY'
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Salt lake City,Utah, February 7th 192
Burton /f I
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Crabbe I move that the resolution be adopted.
Green ----- __../C;
/�Neslen
Mr. Chairman - -
Besnit H RESOLUTION
BE IT RESOLVED by the Board of Commissioners of
Salt Lake City, Utah; that,
WHEREAS, the Board of Commissioners of Salt Lake City
on the 23rd day of January, 1920, passed a resolution authoriz—
ing and directing the layor and City Recorder to advertise for
bids for the purchase of the following bonds, to—wit:
$236,000.00 Water Bonds--Series I,
l00,000.00 ':Toter Bonds--Series J,
50,000.00 Sewer Bonds--Series
$ 35,000.00 Bridge Bonds--Series No. 14,
$100,000.00 Paving Bonds--Series No. 15,
$ 85,000.00 Curb & Gutter Bonds--Series no. 16,
$ 20,000.00 Sidewalk Bonds--Series 1'b. 17
$100,000.00 Both house Bonds--Series
82,000.00 Park Bonds--Series No. 19,
$ 27,500.00 Cemetery Bonds--Series Ho. 20, and
22,000.00 Fire Alarm Bonds--Series Ho. 21
authorized to be issued and sold by the qualified electors of
Salt Lake City, at a special election held on the 25th day of
February, 1919, said notice to bidders to be published daily
for a period of ten days in the "Salt Lake Herald" and the
"Deseret evening ,News", daily papers of general circulation
published in Salt LaKe City, Utah, and also in five issues of
the "Daily Bond Buyer", a paper of general circulation in
financial quarters and published in "Hew York, _.Y., said notice
to describe generplly the proposed bonds and requiring that all
bids for the purchase of said _onds shall be accompanied by a
certified check in the sum of not less than one per cent par
value of the bonds bid for, payable to the order of the Treasurer
of Salt LakeCity as a guarantee of good faith on the part of
said bidder and to reimburse said City for its lose and expense
, / t,•
in this behalf in case the bidder shall not perform his bid after
acceptance thereof; said 'cid to be sealed and placed in the hands
of the City Recorder on or before 10 o'clock A.M. on the 5th day of
February, 1920, said bids to be opened at the regular meeting of said
Board of Commissioners on said date; and
- WHEREAS, pursuant to and in conformity with said resolution, the
Mayor and City Recorder, duly advertised for bids as therein provided;
and
WHEREAS, on said 5th day of Lebruary, 1920, bids for said
bonds were received and filed by the City Recorder, which bids were
opened and reed; and
WHEREAS, upon motion duly made and seconded said bids were
referred to the City Treasurer for tabulation and report; and
`h REAS, an adjournment was taken by saidBoard of Comnis-
sioners to February 7th, 1920, at the hour of 2:30 P./., at which time
the report of the City Treasurer on the tahuletion: of the bids received
for le.e purchase of g57,500 bonds of ;Cult Lake City was received and
read an. thereupon all of said bids were rejected as being unsatisfactory
to said City; and
WHEREAS, the it tional City Company and Redmond Company, jointly,
have offered in writing to purchase all of the $857,500 bonds of said
City at mar value plus accrued interest from date of bonds to date of
delivery to them in Chicago, said bonds to be dated February 1st, 1920;
ITOW T1MFI:FORE, RE IT RESOLVED that the joint bid of :iutioral
City Company and Redmond c; Company, be and the same is .lereby- declared
to be the highest, best and most advantal.eous to said Salt Lake City and
the same is hereby accepted and said bonds are "Hereby sold to said
i:atioral City Company and Redmond &: Company and the City Treasurer of
Salt Lake City is hereby auhorized and directed to deliver said bonds
toseid purchasers upon receipt of the purchase price thereof, to-wit, the
sum of $857,500 together with accrued interest thereon at five per cent
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per annum from date of bonds to date of delivery.
In the opinion of the Board of Commissioners of Salt Lake
City, it is necessary to the peace, health and safety of the inhabi—
tants of said City that this resolution become effective immediately.
This resolution shall take effect upor its passage.
Passed by the Board of Corsnissioners of S.lt Lake City,
Utah this 7th day of February, 1920. /
I:a— r
Attest:
as- /
CityMcoder
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