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HomeMy WebLinkAbout28 of 1931 - A resolution accepting bid of A. C. Allym Company for purchase of $700,000.00 Water bonds. REMARKS: 28 Resolution No. By Commissioner. Bowman Accepting bid of A.C. Allyn & Co. for purchase of $700,000 Water bonds. Noted to the&drd of Gonmde Ions AND PASSECD AUG it 1931 Arobhoottmaleit CiTV 110.X•i.i+dYs 1 ROLL CALL VOTING AYE NAY ASIkit Lake City,Utah, AUG Ia 1931 192 -Burton — Fehr I move that resolution-No 28 by Mr Finch be adopted. LAKE - Was= Mr.Chairman - - Result , The Board of Essioners of Salt Lake City, _Suit . _ Lake 63ounty,;Utah, met in regular session on Tuesday, this l8th day of August, A. D.•1931, at the:heur of 5:15 p'eleek • P. M , due, legal and timely notice of said meeting having been given to all me:ebors as required by Taw and the rules and. ordinances of said City. Upon roll call the•following me*bers were present: Mayor Commissioner Commissioner Commissioner Commissioner • Also- present: , City .I Recorder. • - The following•were absent_;. i RESOLUTION i BE IT RESOLVED BY THE BO COMELESIONERB OF SALT LAKE CITY, UTAH: 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 whe had paid a property tax in the year preceding said election the question of incurring a bonded.indebtedness in ' • the sum of $a,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, ofsaid City and for supplying said City and the inhabitants thereof with additional water, sad WHEREAS, a majority of the qualified electors of said City woting at the said election, voted in favor of said _ MIFF- proposition submitted as aforesaid, which result was duly ascer- tained and declared by the Board of Commissioners of said City, sitting as a Beard of Canvassers en Monday, the 6th day of July, A. D., 1931, and IBBREAS, it is deemed expedient and necessary at this .time to issue and sell the remaining 4700 000.00 of said bawds so Watrd as aforesaid, and WHEREAS, the firm of A. C. Allyn,and.Company of 0hioago, have offered to purchase the remaining $700,000.00 of the bends se authorized and issued, paying therefor a price satisfactoryI:90 yhe Board, which offer is in words and figures as fellows, tewit: The firm of A. C. Allyn and Company of Chicago, will pay the City par plus a premium of $4,500 plus accrued interest to dates of payment; the bonds to be delivered as soon as possi- ble to the First National Bank of Chicago; the City to draw ll drafts against the bonds=frees time to time and A. C. Allyn and Company to receive interest on the bonds only from date the II draft is honored. • 6.A.' 1 fct l AND WHEREAS, the bid of the firm of A. C. Allyn and Company of Chicago, for the purchase of $700,000.00 Waterworks Bonds is the highest, best and most advantageous bid received if o for said Bonds and it is deemed by the Board to be for the best ,1 interest of said City that said bid be accepted, J NOW, THEREFORE, IT IS HEREBY RE soup AND ORDERED,BY I the Beard of Commissioners of Salt Lake City, Utah, that said 1 bid of the firm of A. C. Allyn and Company, for the purchase of $700,000.00 Waterworks Bonds, be and the same is hereby accepted d '. and that the sale of said $700,000.00 Waterworks Bonds to said A. C. Allyn and Company and the action of the Board of Como o missioners in accepting said bid and all acts and proceedings II pertaining thereto are hereby considered and are hereby ratified !! and confirmed and said bonds are hereby ordered to be delivered ff to said A. C. Allyn and Company, upon receipt of the purchase price therefor in accordance with the terms of said bid* I, Commissioner seconded the motion of 'I Commissioner for the adoption of said j resolution and the acoeptanoe of the bid of A. C. Allyn and Company for said $700,000.00 Waterworks Bonds and the same if upon being put to a vote was carried by the affirmative Mete Il fi of all commissioners present, the vote being as follows: Commissioner , Mayor ✓ Commissioner , >f Commissioner Commissioner 1 Commissioner , tl 4 ADOPTED AND APPROVED this 18th day of August, A. D., 1931. Attest: Mayor ity3ecor er (Seal)