2 of 1943 - A resolution WHEREAS, City has purchased $205,000 of the outstanding bonds of Salt Lake City, which 1
By Commissioner Ms;Ganki.a i,
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YvdEhleS,City has purchased
$205,000 of the outstanding:,!
bonds of f.L C.,wnich purchase`
was made before the matsrity
of the bonds and e premium was
paid to secure their rur hase
and VilatoS said ponds purchasi
ed were paid. fr•omth. Bond
Sinking Fund and in order to
' reimburse the fund for premium!
paid, it will be necessary
that a charge in lieu of I
interest be set up to oe paid
to the Bond Sinking Fund and t
directin the Auditor to can- !
cel the $205,000 in oonds
purchased as aforementioned;
nd authorizing him to pay to !
1 the Bond Sinking Fund $8,712.501+
which was set up in the 1543 1i
budget as pond interest to mee�l
coupons on the 4205,000 of .
bonds purchased, etc. i'
Proratted to the Sued of Commission I
AND PASSED
JAN 2 011n943 ,
j'��i'tl rz-Ya I�
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I move that the resolution be adopted.
Keyser
Matheson - - - - !,-- . -y
McConkie
6akonlmMacx - - - -
Mr.Chairman - - - - RESOLUTION
Result
'WHEREAS, Salt Lake City has pur/teased $205,000.00 of the
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outstanding bonds of Salt Lake City. This purchase was made before
the maturity of the bonds and a premium was paid to secure their
purchase; however at a saving to the City when considering the un-
earned interest on the bonds; and
WHEREAS, said bonds purchased were paid from the Bond
Sinking Fund and in order to reimburse the fund for premium paid
it will be necessary that a charge in lieu of interest be set up
to be paid to the Bond Sinking Fund.
NOW, THEREFORE, BE IT RESOLVED that the City Auditor be
and he hereby is authorized and directed to cancel the $205,000.00
in bonds purchased as aforementioned; and that he is further
authorized and directed to pay to the Bond Sinking Fund $8,712.50,
which was set up in the 1943 budget as bond interest to meet the
coupons on the $205,000.00 of bonds purchased; and that the City Auaitc
is further authorized and directed to set up in the Statutory and
General Account the sum of $9,208.14 for the years of 1944, 1945,
1946, 1947 and 1948 and to pay said amounts to the Bond Sinking
Fund.
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Passed by the Board of Commissioners of Salt Lake City,
Utah, this 7^ '7 day of,. ,• 2 , 1943.
•
Mayor.
C y Recorder.