HomeMy WebLinkAbout23 of 1931 - A resolution accepting bid of Walker Bank and Trust Company, Snow-Goodart and Company, First Securit REMARKS:
Resolution No...
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ROLL CALL
VOTING AYE NAY Salt Lake City,Utah, 19
Burton - -
Fehr I move that resolution No by Mr
Finch be adopted.
LAKE
Owe
Mr.Chairman - -- ------- -- - -
ResuIt - - - • - tsk k
The Board of Commissioners of Salt Lake City, Salt Lake County, Utah,
met in -e u1c < session on y , the 1Sth
_..._
day of J,,,1 , A. D. 1931, at the hour of
o'clock . LI., due, legal and timely notice of said meeting having been
given to all members as required by law and the rules and ordinances of said
City.
Upon roll call the following members were present:
.Tdayor
4.1
C scion r
Commissieer Tr
Commissioner 7. . S 0"
Commissioner .T17.3_]_:77 ",
Also present: 7. :G77rf 5t�i'�'_i .c City Recorder.
The following were absent: :iel. : C 1 c
The following resolution was introduced by Commissioner
R E 3 U•L'.0 T I 0 I;
BE IT RESOLVED BY THE BOARD OF COI.CiISSIONERS OF SALT LAKE CITY, UTAJI:
THAT WHEREAS, at a special, election held in Salt Lake City, Utah, on
Wednesday, the 1st day of July, A. b. •1931, there was submitted to the qualified
electors of said City who had paid a property tax in the year preceding said
election the question of incurring a bonded indebtedness in the sum of
a 2,000,000.00 for the purpose of supplying said City with water and increasing,
enlarging, extending and perfecting the present water supply and waterworks
system of said City and for supplying said City and the inhabitants thereof
with additional water, and
WHEREAS, a majority of the qualified electors of said City, voting at
said election, voted in favor of said proposition submitted as aforesaid,
which result was duly ascertained and declared by the Board of Commissioners of
said City, sitting as a Board of Canvassers on Monday, the 6th day of July,
A. D. 1931, and
WHEREAS, it is deemed expedient and necessary at this time to issue
1.
and sell only $1,300,000.00 of the said bonds so voted as aforesaid, and
"WHEREAS, Walker Bank & Trust Company, Snow, Goodart & Company, First
Security Company and Edward L. Burton & Company, have offered to purchase
1,300,000.00 of the bonds so authorized and issued, paying therefor a price
satisfactory to this Board, which offer is in words and figures as follows,
to-wit:
July 7th, 1931.
Hon. Mayor and City Commissioners
Salt Lake City, Utah.
Gentlemen:
For $1,300,000.00 Water Bonds, constituting Direct Obligations of Salt Lake
City, Utah, legally issued to the satisfaction of Thomson, Wood & Hoffman,
Attorneys, of New York City, dated July 1st, 1931 and to mature 50,000.00
on July 1st in each of the years 1934 to 1959 inclusive, bearing 4% interest,
payable semi-annually, January lst and July 1st each year, both principal
and interest payable in New York City or at the office of the City Treasur-
er, at the option of the holder, we offer you the par value of said bonds
and accrued interest from their date to date of delivery to us.
You agree to promptly adopt such proceedings as our Attorneys may require to
the end that said bonds may be legally issued, in their opinion, and deliver-
ed to us without unnecessary delay.
Respectfully submitted,
WALKER BANK & TRUST COL'TANY
SNOW, GOODART & COMPANY
FIRST SECURITY COMPANY
EDWARD L. BURTON & COMPANY
By GORDON SNOW
(Signed)
2.
AND WHEREAS, the bid of said Walker Bank & i'rust Company, Snow
Goodart & Company, First Security Company and Edward L. Burton & Company, for
the purchase of :1,300,000.00 +laterworks Bonds is the highest, best and most
advantageous bid received for said Bonds and it is deemed by said Board to be
for the best interest of said City that said bid be accented,
NOW, T`L^1-0.1)0RE, IT IS "L' EB" RESOLVE:) Bt'D G IRIBED, by the Board of
Commisaionera or said Salt take 01w,. c...,w. 11.-+. --., ,.,. _a ..... - . - _
Company, Snow, Goodart Z. Company, First Security Company and 3dward L. Burton &
Company, for the purchase of 01,300,000.00 Waterworks Bonds, be and the same is
hereby accepted and that the sale of said 4,300,000.00 Waterworks Bonds to said
'Balker Bank & Trust Company, Sno'v, Goodart & Company, First Security Company and
Edward i. Burton A. Company and the action of the Board of Commissioners in
accepting said bid and all acts and proceedins pertaining thereto are hereby
considered and are hereby ratified and confirmed and said bonds are hereby or-
dered to be delivered to said Wal_-er Bank Trust Company, Snow, Goodart s Com-
I
pany, First Security Company and Edward L. Burton & Company, upon receipt of the
purchase price therefor in accordance with the terms of said hid.
Commissioner - seconded the motion of
Commissioner ', n for the adoption of said resolution and
the acceptance of the bid of Balker Bank B Trust Company, Snore, Goodart A Company,
First Security Company and Edward L. Burton B< Company for said .1,300,000.00
Waterworks Bonds and the same upon being put to a vote was carried by the
affirmative vote of al Commissioners present, the vote being as follows;
eedmmissioner , - - i, , „ayor "Aye"
Commissioner _ _- , "aye"
Commission r ye++
?Y''''
Commissioner _ -'B1 - ::e , ";dye+?
Commissioner 1 , - ..
BDOP,t1) AJ APP.-ROM) this • day of , A. D. 1931.
ATTEST � /;
{{V// \Lgajror.
City Recorder.
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3. (SEAL)