2 of 1932 - A resolution authorizing issuance of $1,000,000.00 in Salt Lake City Tax Anticipation Bonds, Series REMARKS' ,i
lution No• 2
, �
Marcus
jig/Commoner
e e ,�, 1 4
13 P
AutlzoPizing the issuance of 0
ri
00,OOQ.6c in Salt Lake city N
x?"Star Anticipation Bonds, Series oi"
oik
an. 15, 1932, interest at the t
t
te of 6% per annum. `E`
I
Hf
f'reeenroud to the Board of
11 4 AND PASSED
4., JAi4 2 81932 I,
i:CPY RwoitLEc+
�
t
r ii,.a
�I. Sad, Kok
r,
ROLL CALL ;;`;
Salt Lake City,Utah, 193._..
VOTING AYE NAY
Finch
I move that resolution lf t�.,by Mr
Keyser be adopted.
Knight
Lake
Mr.Chairman - -
Result
Tme Loari of Co':imicsioners of -falt Lake Citj, Utc.h, met
in re;-ul�.r cession on the _._8th d:-y of J;nuary, 18 >, at the hour
of _` -__-- o?clock i__T;1., at the re-'Uiar meetia , aio,-ce of said
oard in the City & County coilr_in,g, Salt Late City, Utah, Mayor
NT rcus in the chair.
On roil call the fo'owii- mem',^rs were 7.rese nt:
------_---_ , Coa1 lis dinner of ?ublic Safety,
— 7 L. ------- .i Commissioner of Parks an
Pronerty.
, Commissioner of ,'trots and Public
lmnroironeritc.
_. , Commissioner of Later ''u ,y '.:2tcr-
works.
, Cor.. ..sioner of Public . f_rirs &
2inance, Chairman.
1 so lcc cent PTHLL _,;3 .O]DLL, City iiiecorjer.
Conui s.cioner ,: int-'o,.ucei the foilo.;ing resolu-
tion an.. mover'_ its acoftiun:
LSO LUTIO 1.
G. i_A:..i , there is icineiiate and sres,cin7 neef for r;__..in^
flocs to the amount of One 'ai1_liosi iollars (.,r1000,)00.U0) for the
cur'o e of -leetin-' the current ex?en^es of the City for the ,-ear
lO`:_ unt'1 the ;ayment of taxes for the :rear 1000, and
the tax revenues of Talt Lake Cit,', Utr h, for the
your llh 0 will _ -re„ate 1v.o 7!1.77ion Twenty--five Thou-": i:.- 'nhr,_ '-ion-
red One anti oV-/11', (;i.,1%�5,"�?2.9=) 'o?'rrr and the totc,i rcvrnue
from ail osdesdec aour,oe" will -re;atc Threc =ii.'ion, One Hun'.red
Uinet!-one Thousand, Li ht Hundred One and 04/100 ( ' ,191,391.14)
Tailors; and
',.fi:'..i-LO, the sum of One Ni lian Dollars (,„:1,000,000.Oo)
recuired now to be raicen is not in excess of sai',- revenue a,- esti-
mate,-; for the year la L; <nd
the bin of the that i oncl City an'k of _'<e'r. York is
herehrr c'ecli,:red by the -oars' of Commissioners ar bein_- the h= '_ed ,
best and most aavcuitr-coos biro- received for the purchase of orb of
slim 'rormis c,ne1 to the beet interests of v. id city, which bit ;ias been
.I• t ! IC-
Cu):y accepted by said '?oar;' of Commissioners.
.0Ok, THL CFrFOil£, BE IT RSPOLVLD by the Toar:). of Co�rai_sion-
era of Oalt Ike City, Utah, that '-alt Lake City, Utah, for the -'ur-
nose of meeting' current ex'enses of said City for the year lYi. until
the on.yment of taxes for the year 1q7 ., shall borrow the sum of One
Million Collars ,300,000.00) and for that purpose as evidence of
such indebtedness shall issue sixty (GO) bonds thereof, bona_ num-
bered one (1) to sixty (d0), both inclusive; bonds numbered one (1)
to eight (8), both inclusive, bein;,,, in the denomination of :fifty
":housend Lollarr ( 50,000.00) each, bonds numbered nine (9) to
twenty (Co), both inclusive, being: in the denomination of Tv,ie-.nty-
five Thousand ':ollars ( 5,000.00) each, -ponds numbered twenty-one
(Cl) to forty (40), both inclusive, being in the denomination of Ten
'houss.nd !oilers ( l0,000.00) each, and_ bonds numhere forty-one ((i1)
to sixty (60), both inclusive, bein,, in the denomination of Cive
Thousand L'oliors ( 5,000.0"1) each, an' shall sell bonds in the sum
of Two Hundred nifty Thousand. Iollnrs (. °,000.00) numbered one (1)
to five (5), both inclusive, in the denominations of nifty Thousand
noi_tars U50,000.00) each, of said issue of said. Tax Anticipation
3onds to the Rational City an-: of New York City in aecor, :'ne.: with
their hid duly Acc"rted by the -board of Comaat •rion-r: and the reaain-
,Thr of issue to be Coln under such terms and conditions as the
ioard of Commis:ioners r. ..:1 by rerol it_on detsrl'_.ne to "r for the best.
interosts of the city. "a.iei bonds shall bear ._to of Jsnur ry 15, 197.',
shall bear interest et the rsto of six der cent ('is) per an:um nAyable
semi-annually on the 15th day of July, 13r12, and the 15th day of Janu-
ary, 19?7, both orinci al and interest payable at the National City
!->ank of New York, 55 l•ali Ctreet, New York City, Nos: York. Said bonds
shall he caesiyna.ted "Salt Lake City Tax Anticipation fonds, Peri.es of
January 15, 19t2." Said bonds shall be due and payable on the 15th
day of January, A. i'. I9.tIf, in lawful _money of the United fitates and
shall bear interest from the 15th day of January, .A. C. 137.2. ;aid
bonds shall be si7nea by the Mayor and attested by the City 1ecoreer
under the seal of the city and said. cou_ions shall bear the fac -mile
si,_+a:ture of the CityTreasurer. `-ai-d bonds and coupons shall be
_a istereC in a boof/by the City .Auditor for that i>ursose, and. the
City Auditor shall endorse on each of sail bonds, the certificate
required hvr law. Taid bonds and each of them shall be (exce-t as to
numbers and amount) in substantially the following form, to-wit:
COUNTY OF SALT OlICE
NAIiP LAKE CITY TAX ANTICIPATION BONNE
Series of JANUARY 15, 197 :.
No. 1__ 5` 000.90
ALL MEN BY THESE PH_-ENT", that Salt Lake City in the
County of -alt Lake, in the tate of Utsh, hereby acknowledges it-
self to be indebted. and, for value received, hereby promises to pay
to the bearer hereof, the sum of Fifty Thousand 050,000.00) Dollars
in lawful money of the United Ttates on the kith day of January, A.U.
19?Y at the National City Bank of New York, 55 'fall. `treet, New York
City, New York, U. C. A., with interest thereon at the rate of six
per cent (6y) Her annum from date until 'laid, in like money ,ucyable
semi-annually on the 15th day of July lC, and the 15th of
January, 19 rn ',
, said interest to turi9'
t, bei,:� rc _r. ..y
a entcc 1,y int<_-
r-
cst coupons i.creto attached.
This bond is one of a series of sixty (SO) bonds of like
tenor and effect, nuanbered one (1) to sixty (To), 'coth inclusive;
bonds numbered one (1) to eight (8), both inclusive, being in the
denomination of fifty Thousand Collars <;50 0on,,
(, , 0) each, bonds num-
bered iec nine (9) to twenty (,:l), both inclusive, bein7 in the ?eno mea-
tion of went•--five Thousand Dollars (45,000.90) each, bonds number-
ed twenty-one (L:1) to forty (40) both inclus
ive, being in the aenom-
ination of Ten Thoosdnn Down ( A.0,000.00) each, and bonds numbered
forty-one (41) to sixty ( 0) being inclusive, bciP in the denomina-
tion of Tive ',21ioJesnn Doll,.r, (N5,010.00) each, end. known as "Salt
Lake City Tax 'nt_ici a ation non-s, Feries of January 15, 19 b,d' for
the rer-ate ,um of One Million Iollars ( 1,00�0,000.00), issued ur-
suant to Section 57CC 3, Compiler; Laws of Utah 1917, and all acts
amendatory thereof and su.mslr-:eftal thereto.
suffi-
cient t The City of alt Lake shall levy in the year 1?';.: a to Tey the grincigal and interest on this bond. r the same
shall fell dud, and this bond is issued in anti ci ration of such taxes
for the year 19 .
It is hereb- certified, recited and declared that the entire
indebtedness of said city hereby incurred is not in excess of the tax-
es of :die city levier or to be levied for the current oer.r '-
that said indebtedness nec was and is contracted for the ur,ose for \)h'�ch
sa.i_ taxes re levied.
It is hereby certified, recited and declare' that all condi-
tions, act ., and things essential to the validity of this bond exist,
have ha^.ened and hay been done, on that eve
effecting :
the issue thereof i._.. era and
of Taw
been duly complied with, nd that this
bond is Tithin every debt ann other limit escribed by the onst4tution
and Laws of seid -tete, and that the full faith and credit of said Fait .
Lake City are hereby irrevocably bly ol e,-ge', to the gunctual ;ayaent of
the irinci•rr.l and interest of this bond accord in; to its terms.
IN ITTNE5N ,; , iLOF, Salt Lake City has caused this bond to
be signed by its Mayor, its corporate seal to be hereunto affixed, and
attested b; the City i:ecorer as of this
s. ?``_. day of
, .
r
t
ty Pecor
0ach ri, -Coil ,- nail o coc:o, for CilCh
Inrt; i'_11o€:nt icticr; 0octc.,-i rtc.: i,y r: " i cu:.ons
.7,11E:7.1 ice conrEguti-Cy nu rcri, '.1tla fm. 1, thc
FEV 1-; 1 L y Ent b: r of r th0 f: c-
air,117, rture ( City -rc: arc 1', coo ch
O I. cc rhol -t;otr: illy fcc the follo. for , to-1r it:
(1,'.1nl,1 CT? CCU 'sr)
i1c.
thc 15th -r cc:, the 15th y of J
colt mice City, Utch, rill --:ay to th.c crc .. hcrcof, rt the
ih.tIon: l City of i',101 cit:, 51'- 'trrct, 7cy
N. Y., the corn Of '2.11C T,“)1.111 Lluncrr, r
oil pr.:- ,ol: Co cc th0 n -L., r>f acre: of the .•or'cot
roic 'fat . finen0or, Of;' 32t:.orft thcr. cc
On itr on( c• 75,
1_ c
C Lty TrE
ihcrc, shal] rlro cc, -or, ed on each of i'onr1r tne
in - ity rt11'1.c: tc:
'I locr0' cc:1-.11'y tihot ti .
lay rul t ic ft of' 0 City, ft h, onci,
in Ir!::ner N- I* :Ir ' to 1,
'tar.
Lilt? corcnontr, rtatel•:cntn., rc-ri t.ionr
rents cont, ne:. in 1_, 1-on,: rc herr'y c a tc.' crivcnantr, Ft"_ --
71ent5-, nentr_ -r, oentr ruC c- of calt "C:,he ty,
1,3tchT.,
The Tir.yor [it C'tY in trir'C'y autilori:7& Ciroct-
c-O to si :n rn: c:::coutc. Ff thr. City r.coor: in 1-Errei,
author°.ocO anc ..'irectcci' to rttest thc 1 of c c-it 117re City
to of cci on,;r, the City :h.c.itor in author.1.:•e,
to cc cc on r,ric, Jonr.c: the cat( n 117-c -can .cr cr_o fr)ro, net
-orth ho0-c, roiC coca- (=nor FILL• ')ccr thc r.1-n.:.--ture of
tcidi
the city -2r0crurcr, anc thc actr of roir, ',1r.:Tbr, City - ce01',
i 1 • ; " .
-5-
ILATHitor in ro coinr are ariC shall 'no the Let and (ha:ea: of jT-J:Lt tc_ITe
Cjty.
That the City Treeaorer ia ncrolT authori.re to jcliver
aLic ',-:on - to the, ourcharcra the roof, as anJ.' 'ren reiL '-onCa Tay
L,±a,- r:re TE:-.',C!.7y jzsuea anc c'eliverec r.uracant to authcucia etor:
of the 7,oare, of Corrliaaioncra at T rocular weTtin,: hcla JLI-1..ary Llth,
That the oLre. of Cit7 Coirnioner:7 rthalT_' levy In. the yoer
cj:,1 a aufficiant ta.:; to uFi7 j'rthsil err:, intcroat on aeld '000 as
the same shell folj! Cue and. for the Taa.iant of rate 'cona7 the ful'l
fTjth, crc it an,. -te: jn :0,: r of elt Lake City are horch- irrevoca-
ly r:ledce:J. and the 1 ,:;-T of city Coiarionora here.hy covenants and
aa;roca with the holaerc of seta bonds to levy in the J:cer 117.1:j au
eient taxes to ':roviC.c for the ,Tymeht of the ':riflcial 'to" intc.reat
of 110 bon Os.
That an emerency is hereJv deciared and in the opinion of
the 7-0ard of Co=iraioners becTuce of tJ-e recearity for furida with
which to ac-aot the eurrert c::-.....en.aca of raj,C city it it necoarary to
t}ie. ocoal-, health ens safety of the inhaitants of : Lit Lne City
that this resolution teke effect It o,nee.
D<' • re---- ,--i.. /% - --. -- -:-L,-Z-
_.,..
This resolution ahail take effect u:on aColtion.
----4'.. -- ',--;'-_. -Z .,-.-/ ---- ,:_----L-4r_.--
tte7t: Tle7or.7. .;•' .1 - /-
__cji d a__11.W.,-Zii-- .
City liecOrTcr,
The a.Twtion of tie forceoine resolution 1:7:,7 71OM-1'.'( by
Corva,iarioner 72= on: the aane on hoine rut to a vote too unani-
mously et rrjea" by the affirmative vote of all Coa-iraionora - tort,
the vote hejn, La follev:s:
_Lc= Tk\J=J1 7eyor
1- liC7
Coia' Ionor ' .. 7-i:v
_
• ------ -li ColTriioor "- "
- dc „ n,_
1:._77.:-Ilrli2 Couiraionor l'",:',
r? .
A
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