24 of 1920 - A resolution authorizing City Treasurer to issue certificates of indebtedness in the sum of $400,000 'REMARKS:
Resolution Noy . 24 v
;;oico e.,...__._ ur.on=._e_
thorizing City Treasurer to ;j
. iseue-certifioates of indebted-
ness in the sum of $400,000. 1
set,:a rate of interest of 7 3/4k.,.
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ROLL CALL
VOTING AY - NAY
Barnes Salt Lake City,Utah, ?ut...13. , 192�7
Burton
Crabbe I move that the resolution be adopted.
Green
MEW
/ O
Mr. Chairman
Result RESOLUTION
._, has i. . - -ic --
-._ i� t0 bon.'Ol'1 :"O17 C17 with
which to ay fs ou__•c:l c e:; eases of t':e oily administration
in'• the c:of loot "on of tan " e_cdo_ore
personal en7. real, in Sail =t in u..T our __undsod
nousand (::34Co,000.00) Dollars; _.ad
1 R:._ , the .' casure_ of 3alt �_e ,_L obtained an
offer to loan said sum of _None;; at a rate of ntei•est of 7';� per
annum, said interest payable in advance, and said nsa to be paid
by the 'h ip on the 51st day of 'December, 1930.
, 3c I SUS i'J) t_ct certificates of in-
debtediess o]' ,,,_,id c"it1 be i. a11Cd ii'. ,;he fo''.._o.iin denominations,
to-nit:
s'ive (5) certificates of indebtedness to be anunbered
158,to 162, Pot : inclusive, in the Earn e_ -,t30,000.00 each, or
total of .1;5250,000.00;
-dirty (30) ce_tifice.tes of iade'htohne s to be n m.bered
163 to 192, both inclusive, in the sum of •„">5,000.00 each, or a total
of '150,000.00;
The same being thirty-five (35) certificates of indebted-
ness in the total sum of ;°1400,000.00; that each of said certificates
of indebtedness shall bear date of Se.to:uher 1, 19i0, and shall be,
except .7.0::' the amounts, in substantially the -d of to in! form;
Note ?o.... . . . .
s::lt :C !.t;, UtLI, wept. 1, 1920.
On December 31, 1920, for value received, Salt Lake City,
a municipal corporation of the State of Utah, promises to nay to
the bearer at the National City Bank of Salt Lake City,,
Dollars, with interest at the rate
of seven and three-fourths per cent per annum from maturity
hereof until paid.
It is hereby certified and recited that this note is given
for money borrowed to meet the ordinary current expenses of said
City for this current year, 1920, until the payment of the taxes
for the current year and that the aggregate indebtedness in-
curred by said City for this current year; including this note,
' does not exceed the taxes fofr this current, year and that the
.borrowing of said sum and the execution of this note have been
authorized by resolution of the Board of Comrnissioners''of Salt
,Lake City, duly passed at a duly convened meeting thereof held
on the 18th day of Au;upt,.A.,D., 1920, under the provisions of
Chapter 3 of Title 16, Compiled Laws of Utah, 1917.
It is also certified and recited that all conditions, acts,
and things essential to the validity of this certificate, exist,
'have happened, and have been done and that every requirement of
law affecting the issue thereof has been duly complied with and
that this certificate is within every debt and other limit pre-
scribed by the Constitution and Laws of said State, and that the
faith and credit of the City of Salt Lake City are hereby irre-
vocably pledged to the punctual payment of the principal and
interest of this certificate according to its terms.
IN WITITESS WHERE0 , the said City, by its Board of Commis-
sioners, has caused this note to be signed by the Mayor of Salt
•'Lake City, and attested by the City Recorder of said City, and
the seal of said City to be affixed hereto, this 1st day of
September, A. D. 1920.
C. C. Neelen, ,,
Mayor.
Attest; W. A. Leathern,
City Recorder. •
(Seal)
I hereby certify that the within certificate of indebtednes:
His within the lawful debt of Salt Lake City, and is issued ac-
cording to law. ' •
• H. S. (McCann,
City Auditor.
BE IT PURTHIE RESOLVED that the.Mayor and City Recorde•
be, and they are hereby authorized and directed to execute each
of said Certificates of Indebtedness for and in the name of Salt
Lake City, and under its corporate .seal, and that the City Audi-
tor of said City certify upon each of said Certificates .of In-
debtedness that the same is within the lawful debt of said City •
and is issued according to law, and
BE IT FURTHER RESOLVED that the City Treasurer be,and
he is hereby authorized and directed to deliver all of said aer-
tificates of Indebtedness to the Anglo and London Paris National
Bank of San Francisco upon payment by said Bark to the-Treasure's
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of Salt Lake City of said sum of Four Hundred Thousand ( 400,000,00)
Dollars, and there is hereby Appropriated to said Anglo and Lon-
don Paris hat Tonal Bank of Sanfraucisco the sum of Ten Thgueand
i our Hundred Nineteen and 45/100 410419.451_ Dollars,
interest on said sum of Pour Hundred Thousand Dollars ( 400,000.00)
from.the date of said Certificates of Indebtedness to December
31st, 1920, same to be-paid. upon receipt of said Four Hundred
thousand Dollars (.400,000.00).
Adopted by the Board of Commissioners of Salt Lake City, Utah,
this 18th day day of Ku, ust, A. D. 1920.
./�/�e� o,�i/
Uay o T.
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City ieco-rder.
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