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Home My WebLink About31 of 1931 - A resolution directing the City Treasurer to destroy $700,000.00 erroneous Waterworks Bonds, Series REMARKS: Resolution No. 31 By Commissioner Chas.D.7ehr Directing the City Treas- urer to destroy S700,000.00 erroneous 7ateraorks Bonds, Series July 1st, 1931. Prwirdad to the Board of CommWonsa AND PASSED SEP 1r1931 TZCZ- ei40441014.4k4 CITY HBCOAD FI ROLL CALL VOTING AYE Y Salt l ke City,�3tah, September 3�; : in 1 Burton iffignFear I move that resolution No 3) by Mr 1,@ Finch be adopted. Moran- - ---- - - --Mr.Chairman.- - Result I The Board of CodoiAssYioAev of Salt Lake City, Salt Lake County, Utah, met in regula gsion.on Tuesday_____, this 15th J ilday of September, A. D. 1931, at thh�jhour of 5'15 _ o'clock !T p._M, , due, legal and timely notice of said meeting hav'ing-been given to all members as required by law and the rules and ordinance- / pf said city. Upon roll call the following members were present: Mayor _ J4813_E..__BQL'MAN Commissioner T. T. BURTON !i Commissioner CHAS. N. FEHR Commissioner HARRY L. FINCH Commissioner _ JOS. H. LAKE__— Also present: Ethel Macdonald , City Recorder. The following were absent: • NONE 1i The following resolution *as introduced by Commissioner ehas.N.Fehr R E S O L U T j a N. 'j WHEREAS, the Board. of City Commissioners of Salt Lake City, Itah, by an ordinance' passed August 18, 1931, provided- for the 11 ssuance and sale of Seven Hundred Thousand ( 700,000.00) Dollars Vaterworks Bonds of the issue dated July 1, 1931, of the denomination bf One Thousand Dollars ($1,000.00) each, numbered consecutively rrom 1301 to 2000, both inclusive, to be denominated "Salt Lake City daterworks Bonds, Series of July 1st, 1931," to be dated July 1st, 11 p31, and to become due and payable serially as follows: O5fty Thou sand Dollars ($50,000.00) on the first day of July in each of the Ifi ears 1960 to 1969, both inclusive, and One Hundred Thousand Dollars 100,000.00) on the first day of July 1970, and One Hundred. Thousane ollars ( 100,000.00) on the first day of July. 1971, to bear interes t the rate of four per cent (4%) per annum, payable semi-annually o he first days of January and July in each year, both principal and i Interest payable at the Guaranty Trust Company of New York, in New ork City, N. Y., or at the office of the City Treasurer of Salt Lek: 1I -2- 11 City, Utah, at the option of the holder. Said bonds and each of !them to be (except as to consecutive numbers and date of payment) li in substantially the following form, to-wit: I II, UNITED STATES OF AMERICA I) STATE OF UTAH SALT LAKE CITY WATERWORKS BOND P, SERIES OF JULY Lst, 1931. h o. 1,000. 0 IN �--Il KNOW ALL MEN BY THESE PRESENTS: 11 That Salt Lake City, Salt Lake County, State of Utah, hereby acknowledges itself to be indebted and;for value received hereby promises to pay to the bearer hereof the sum of ONE THOUSAND DOLLAR II(01,000.00) in Gold Coin of the United States of ,America of the present standard of weight and fineness, on the first day of July, A. D. 18 - , at the Guaranty Trust Company of New York, in New York City,N.'';Y.,>or at the office of the City Treasurer at Salt 'make City Utah, at the option of the holder, with interest thereon' fat the rate of four per cent (4%) per annum from date until paid, lrayable semi-annually in like money on the first days of January Nand July in each year, said interest to maturity being represented $y interest coupons hereto attached. This bond is issued for the purpose of acquiring funds to be 'used for the purpose of defraying the expense of increasing, im- �proving, enlarging, extending, perfecting and adding to the present water system and securing an additional water supply for said city . for the purpose of supplying and distributing water to the inhabi- . lit ants thereof, in manner provided for in an Ordinance passed by the Qard of Commissioners .on August 18th, 1931, under and pursuant o the provisions of the Constitution and Laws of the State of Utah, y the Board of Commissioners "of Salt Lake City, and as authorized y the electors of said City at a special election held for that urpose. The Board of Commissioners shall annually levy a tax sufficient :o pad the interest on this bond as it falls due and also the prin- ripal thereof as it falls due. ' It is hereby certified, recited and declared, that all condi- ions, acts and things essential to the validity of this bond exist, ve happened and have been done and that every requirement of law v ffectthng the issue thereof has,been duly complied with and that his bond is within every debt and other limit prescribed by the onstitution and Laws of said State. ICI The full faith, credit and all taxable property, within the @imits of said Salt Lake City, as constituted at the time of the ssuance hereof are and shall continue to be pledged to the punptual ayment of the principal and interest of this bond. IN WITNESS WHEREOF, Salt Lake City has caused this bond to be igned by its Mayor and City Treasurer and its corporate seal to be ffixed hereto, attested by its City Recorder and the annexed coupon o bear the fac-simile signature of the City Treasurer, as of the irst day of July A. D. 1931. TTEST: — Mayor. [------City—Recorder----- -- -- City Treasurer. -3- 11 To each of said bonds shall be attached a coupon for each (installment of interest contemplated by said bonds, which said I� koupons shall be consecutively numbered, beginning with No. 1, with the several dates of payment and number of bond and shall bear the Ifac-simile signature of said City Treasurer, and said coupons and I leach of them shall be substantially in the following form, to-wit: i (FORM OF COUPON) No. ----- $20.00 I1 On the first day of January-July, A. D. 19 , Salt Lake ity, Utah, will pay to the bearer hereof at the Guaranty Trust !Company of New York, in New York City, N. Y., or at the office of he City Treasurer at Salt Lake City, Utah, at the option of the i Molder, the sum of Twenty and 00/100 Dollars ($20.00) in Gold Coin I pf the United States of America of the present standard of weight 0.nd fineness, being six months interest then due on its Waterworks piond, Series of July 1st, 1931. i (Fac-simile signature) 11 City Treasurer. fond No. ____ i 1 There shall also be endorsed on each of said bonds the jollowin : "I hereby certify that this bond is within the 11 lawful debt limit of Salt Lake City, Utah, II and is issued according to law. City Auditor." AND WHEREAS, said bonds were printed, executed and deliver- elld to A. C. Allyn & Company of Chicago; and 1 WHEREAS, in the printing of said bonds an error was made n that the ordinance was recited as having been passed by the Board I Of Commissioners on July 14, 1931, instead of the correct date of I�Ugust 18, 1931; and WHEREAS, 'said erroneous bonds together with interest cipupons attached thereto have been returned to the City Treasurer o� Salt Lake City; and NOW, THEREFORE, BE IT RESOLVED by the Board of Commission- I 1 -4- i I ers of Salt Lake City that the said bonds be reprinted in the form prescribed by the ordinance of August 18, 1931, as heretofore set forth, and that to each of said bonds shall be attached the interes 1 icounons as authorized by the said ordinance of August 18, 1931, and ,that said bonds as reprinted be signed by the Mayor and City Trea- surer and sealed by the seal of said city and the said coupons shal bear the fac-simile signature of the City Treasurer, and- that the 'Mayor and City Treasurer of said city are each hereby empowered and directed to sign and the City Recorder to sign and affix the seal 1 i!of said City to each of said bonds, and the acts of said Mayor, Cit 11 1 reasurer and City Recorder in so doing are and shall be the act land deed of Salt Lake City. ARP BE IT FURTHER RESOLVED that the City Treasurer is hereby directed to destroy the aforesaid erroneous bonds by crema- Htion in the presence of the Board of.City Commissioners of Salt Lak: I! pity and make written report thereof to the'said Board of Commis- sioners. I Commissioner T. T. BURTON seconded the motion of Com- 1 nissioder CHAS. N. FEHR_ for the adoption of said resolution and the same upon being nut to a vote was carried by the affirmative ;vote of all Commissioners present, the vote being as follows: II Commissioner JOHN_R__BOWMAN� Mayor. jj Commissioner T. T. BURTON fli Commissioner CHAS. N_ FEHR II Commissioner HARRY L.FINCH Commissioner JOS. H. LAKE ADOPTED AND APPROVED this 1 th day of September, A. D. I 11931. lC ‘1---;7-a-77--g-"-----------er".....) I. j' Mayor. Attest: City Recorder. I. 1`. 1 - I