20 of 1932 - A resolution authorizing the issuance of $100,000.00 Salt Lake City Sewer Bonds, Series of December REMARKS: at',
'' '--Resolution No._.
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ROLL CALL or APti VOTING AYE Y 29 1932
Salt Lake City,Utah, 193
Finch
I move that resolution rio 20 by
Keyser be adopted.
Knight
Lake
Mr.Chairman - - -
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Result
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APRIL 29th, 1932, at 3:00 P.M.
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APRIL 29th, 1932.
Page 289
The Board of Commissioners of Salt Lake City met in special session
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at 3:00 o'clock P. M.
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Mayor Marcus in the chair.
On roll call the following members were present:
Harry L. Finch, Commissioner of Parks & Public Property.
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I; George D. Keyser, Commissioner of Water Supply & Baterworks.
;I John M. Knight, Commissioner of Public Safety.
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,I Jos?ph H. Lake, Commissioner of Streets & Public Improvement.
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Louis Marcus, Commissioner of Public Affairs & Finance,
Chairman.
Mr. Marcus moved that the offer of purchase of -100,000.00 Salt Lake
City °ewer bonds for par and interest for 4 bonds dated December 15th, 1931,
S25,000.00 due on December 15th in each of the years 1949 and 1950, and
$50,000.00 due on December 15th, 1951, as made by the First Security Company
1 and Edward L. Burton & Company, be accepted, said bonds to be accompanied by
the approving opinion of Thomson, good and Hoffman of New York City, which
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i, motion carried, all members voting aye.
Resolution No. h by Mayor Marcus.
WHEREAS, by the result of a special election duly called and held
in Balt Lake 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
II the purpose of supplying said City with a general and drainage sewer and
ii increasing, enlarging, extending and perfecting the present storm and drainage
sewer system of Salt Lake City, said sewer and sewer system to be owned and
controlled by said Municipality, and
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WHEREAS, by ordinance duly passed by the Board of Commissioners of
I Salt Lake City, Utah, on the 16th day of December, 1931, there was authorized
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the issuance of said ,$600,000.00 bonds for the purpose aforesaid, said bonds
to be issued and sold in such amounts and at such times and bearing such rates
of interest as the Board of Commissioners may thereafter determine, and
iiHEREAS9 there has heretofore been authorized the issuance and sale
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
$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; 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 bonds in the amount
of !.125,000.00 of said issue maturing December 15th, 1951, being bonds Nos.
276 to 400, both inclusive, and
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rhREAS, it is now necessary to raise additional funds in the amount
of 2100,000.CC for the purpose aforesaid, and
wHi2EAS, the First Security Company and Edward L. Burton & Company
of Salt Lake City, have offered to purchase $100,000.00 of said bonds,
maturing $25,000.00 on December 15th, 1949, being bonds Nos. 176 to 200, both
inclusive; $25,000.00 on December 15th, 1950, being bonds Nos. 201 to 225,
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both inclusive; and $50,000.00 on December 15th, 1951, being bonds Nos. 226 to
275, both inclusive, as authorized in said ordinance passed on the 16th day
of December, 1931, bearing interest at the rate of 42,E 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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Eimmummilb
Honorable Board of City Commissioners,
Salt Lake City, Utah.
Gentlemen:
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We agree to purchase from Salt Lake City, Utah, for delivery at such
!1 banking point as we may designate later $100,000.00 Salt Lake City Sewer
bonds bearing interest at the rate of 42 per annum, dated December 15, 1931,
I due and payable 25,000.00 on December 15th in each of the years 1949 and 1950„
1 and r`P50,000.00 on December 15th, 1951, as described in an ordinance passed by '
'; the Board of Commissioners of Salt Lake City on December 16th, at a price
{; of par and interest.
The bonds are to be accompanied by the approving legal opinion of
Thomson, ,good and Hoffman of New York City, whose opinion is to be delivered
0 to us together with the bonds, which are to be delivered without undue or
unnecessary delay.
This offer is for immediate acceptance only.
II Respectfully submitted,
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FIRST SECURITY COMPANY
EDWARD L. BURTON & C0HPANY
By L. P. VanVoorhis, vice-President
First Security Company.
I! NOW, THEREFORE, BE IT RESOLVED that there shall be issued $100,000.00
fI1 of said Salt Lake City 'ewer bonds, Series of December 15th, 1931, maturing
$25,000.00 on December 15th, 1949, being bonds Nos. 176 to 200, both inclusive;;
25,000.00 on December 15th, 1950, being bonds Nos. 201 to 225, both inclusive;
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and $50,000.00 on December 15th, 1951, being bonds Nos. 226 to 275, both
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11 inclusive, which bonds shall bear interest at the rate of 4 per annum, an
BE IT FURTHER. RESOLVED that the City Treasurer be and is hereby
ij authorized and directed to deliver said bonds to the First Security Company
Hand Edward L. Burton & Company at such banking point as they may designate
11 upon receipt of the purchase price therefor in the sum of $100,000.00.
1i It is necessary in the opinion of the Board of Commissioners for the
peace, health and safety of the inhabitants of said Salt Lake City, Utah,
that this resolution take effect upon its passage.
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This resolution shall take effect u its--adoption.
Mayor
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Adopted by the Board of Commissioners of-Salt Lake City, Utah,
April 29th, 1932.
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r n r, n Mayor
p City Recorder
1{ (SEAL)
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Mr. Marcus moved, seconded by Commissioner Keyser
that the foregoing resolution be and the same is hereby adopted, which motion
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carried, on the following roll call vote:
Commissioner Louis Marcus, Mayor "Aye"
Commissioner Jos. H. Lake "Aye"
Commissioner Harry L. Finch "Aye"
Commissioner Geo. D. Keyser "Aye"
Commissioner John M. Knight "Aye"
it On motion of Commissioner
Keyser the Board of
Commissioners adjourned, all members voting aye.
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STATE OF UTAH cc+
) ss.
COUNTY OF SALT LAKE)
I, Ethel Macdonald, the duly chosen, qualified and acting City
L Recorder of Salt Lake City, Utah, do hereby certify that the above and
foregoing constitutes a full, true and correct copy of the minutes of a
special 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
11 and ordinances of said City, held at the regular meeting place of said Board
on the 29th day of April, A. D. 1932, insofar as the same refer to or concern
q the issuance and sale of $100,000.00 Salt Lake City Sewer Bonds of said City,
as the same appears of record in my office; that I personally attended at
said meeting and that the foregoing proceedings were in fact held as in said
minutes specified.
IN ITLRS& 4HEREOF, I have hereunto set my hand and affixed the
corporate seal of said City this 29th day of April, A. D. 1952.
fin. r401/1,01
City Recorder
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Salt Lake City, Utah.
(SEar,)
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STATE OF UTAH j SS.
COUNTY OF SALT LAKE)
I, Ethel Macdonald, the duly appointed, qualified and acting City
Recorder of Salt Lake City, Utah, do hereby certify as follows:
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:
Mayor, Louis Marcus, Term Expires January 6th, 1936
Commissioner, Jos. H. Lake, Term Expires January 1st, 1934
'! Commissioner, Harry L. Finch, Term Expires January 1st, 1934
i Commissioner, George D. Keyser, Term Expires January 6th, 1536
Coanisioner, John M. Knight, Term Expires January 6th, 1936
City Recorder, Ethel Macdonald, Term Expires When successor is
appointed and confirmed.
City Treasurer, Milton E. Lipman, Term Expires Then successor is
appointed and confirmed.
City Auditor, Samuel r. Nicholls, Term Expires Janui:ry lst, 1934
3. That the regular meetings of the Board of Commissioners are held
;i as follows:
Every Tuesday at 10 o'clock A. M.
Every Tuesday at 6:15 o'clock P. M.
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
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) any way the legality of the Six Hundred Thousand ,collars ( 600,000.00) issue
of Salt Lake City, Utah, bonds authorized at a special election held within
said City, October 27th, 1951, and are to be issued for the purpose of
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
an' of the officers thereof.
That said Ethel Macdonald as City Recorder and Milton E. Lipman as
!I City Treasurer are each of them now in office performing the duties thereof
11 and that the right of them or either of them to hold such office has never
been questioned and is not now being contested.
IN ,ITN:SS V,hERCOF, I have hereunto set my hand and affixed the
corporate seal of said Salt Lake City, this 29th day of April, A. D. 1932.
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City Recorder
Salt Lake City, Utah.
(SEAL)
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