22 of 1931 - A resolution approving ten notes in the sum of $3,000.00 each, dated July 9, 1931, for purchase of r REMARKS: f
Resolution No. 22
Bowman
By Commissioner_......_...-.............._ ...._..._........_...._........__
Approving ten notes in
the sum of $3,000.00 each,
dated July 9, 1931, for pur-
chase of real property and watgr
rights from The Progress Co.
PrNenled t the Botte
AND PD
�r_,,y�JUL 141931
3'
CITY wsooaoiw
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Salt Lake City,Utah, duly 15, 19_;51..
VOTING AYE NAY
Burton - - I move that the resolution be adopted.
Fehr - -
Finch - -Lake
Mr.Chairman -
RESOLUTION
Result - -
WHEREAS, Salt Lake City has purchased from The ProCress
Company, a corporation, certain real property located in the S. W.
1/4 of Sec. 16, i. 2 S., R. 1 E., and water rights de;,reed to the
Progress Company on Rig Cottonwood Creek, Little Green River and
Spring Creek, all located in Salt Lake County, Utah, and conveyed
to Salt Lake City, Utah, by deeds dated May 9, 1931, and recorded
in the County Recorder's office of Salt Lake County on July 9, 1931,
being entry numbers 679546 and 679547, and as the purchase price
thereof pay to the said The Progres Company the total sum of
$30,000.00 out of the revenues for the year 1931, in ten annual
installments, to be evidenced by ten (10) negotiable promissory
notes for $3,000.00 each, all dated July 9, 1931, one of such notes
due on or before one year from date hereof, and one note each year
thereafter to and including the year 1941, each note to bear interest
at the rate of five per cent (5%) per annum from date until paid.
NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners
of Salt Lake City that said City purchase the said real estate and
water rights upon the terms and conditions herein set forth, and that
the Mayor and City Recorder be and they are hereby authorized to
make, sigh, execute and deliver for and on behalf of said City the
ten notes hereinbefore mentioned and described, and when said notes
shall have been executed and delivered, they shall be binding as the
notes and obligations of said iC t*.
-2-
Passed by the Board of Commissioners of Salt Lake City,
.\\1E2
Utah, this u day of , k. D. 197 .
- --- Mayor. - ------
Ci y Aecorder.