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4 of 1927 - A resolution providing for the issuance of bonds in the sum of $155,000.00 in connection with the ex REMARKS: ." = Resolution No 4 '.0 P #�r a Fehr Pxai ling fdr the issuance.of l tipplg a ...;e in. the sum of *155, 0a Ooilneet ion with exchange •a8 1 El xaent with the Lower"I2ill"Crettk -I-rri{ration Co., interest payeb :` ; 'semi-annuallyli 1,1 I y 3 '. `�� �.,�ki�u YyAb(1ar�i�O � : 'Ar�lt3 11927 Idj ,,T Y rii.y';ORDBfi '^ li I , 4 P ROLL CALL Salt Lake City,Utah, , 192--.._ VOTING AYE Nf1Y /Burton Fehr / I move that the resolution be adopted. Finch Moran ✓ /--/-a.-..,'• Mr.Chairman - - - - Result RESOLUTION under the provisions of :Action 570e>2, Jompiled Lows of Ut , 1917, the 'neard of Jommiesioners are authorized and emeouered, -.men oteer things, to aeeropriate money for corporate purposes, and to eurchaue, reoeive, hold, sell, lease, convey and dispose of property, real end eersonel for the benefit of the jity and to do ell things in relation thereto as natural persona, end that it shall be deemed a corporate purpose to neeropriete money for any eurpoce eeieh in the judenent oT the eenrd rill oreelee for the safety, ereeerve the health, promote the prosperity, end im- prove the morals, peace, order, comfort and convenience o the in- habitants of the eity, and, 73AL, under the provisions of ,Action 570n6, emptied Laws of the tate of Uteh, 1917, the ecard of Jommiseioners is fur- ther authorized end empowered to berree money for corporate pur- poses in the manner and to the extent allowed by the Jonstitution laNs end to issue bonds therefor in such amount and forms and on suoh conditions as the eommlosion shall determine, and, the judgment of the ioard of jommiseioners in order to provide for public safety, ereeerve eublio health and imnrove the comfort and convenience of the inhabitants of said alt cake :Ity, there is ineadinte and dresoing need of raising funds to the amount of One Bundrei A.fty-five Thousand nollare (n150,000.00) to defray the expense and to pay the contract price of certain waters and water rights in that aertein stream known as Mill reek in felt Lake nounty, and particularly all the weters and water sights of the hoagland and :Arphy eitehes. The acouire- ment whereof has been provide' in a certain oontraot made and one- outed on the 14th day of MAroh, 1927, by and between the Lower Idill Oreek Irrigation lompany, a corporation, and ealt Lake Pity, said teeter thus nbeuired to be use by said city for corporation purposes only and to be and become a part of the water system of said city. Tnneee, the Jity is without the necessary funds at this `- time with which to purchase said waters and water rights, and said sum of One OO.undred fifty-five Thousand Dollars eels ,000.0O) may bo raised rat this time without incurring any indebtedness or liability in eecess of the taxes of said rsuty for the current year 1927. TTO '77 71-1 TT.' eee0.7,Vee by the :,card of ',ossnission- ors of ._e1t ;eke .'ity, Utah, as follows: 1. That for the purpose of raising funds to defray the expense and to fulfill its oontract obligations in the p,,rehrese and aceuiremnent of the wetere and enter rights in that certain stream known as 11i11 ireok in ea1t lake Jounty and more particu- larly all the waters and water rights of the Poagland and rurphy 'aitohoe under and by virtue of that certain contract dated t`e 14th dry of ?'arch, 1`.'01, by and between the Lower :all .reek Irri- gation .Jompsny and ..altLake Olty, said waters to he for oorporate purposes only and to be and become a part of the water system of salt Leke Jity, sold .alt Lake ::ity shall issue One hundro... fifty- five (155) bonds of the denomination of 1,000.00 eaoh, numbered from one (1) to one hundred fifty-five (155) inclusive, and de- liver the enome to the sower :1111 reeek> Irrigation 3omaany pursuant to the terms of said oontraet. :_,aid bonds shall bear date of >ril 1st, l0'27, rand shall bear interest at the rate of five per semi- cent (5 ) per annum from dote until peid, interest payable„annual- and October ly on the first days of �sril Hof each year, in accordance with in- terest coupons thereto attached, and both ,rinoipel and interest shall be payable at the e'e_atral Trust voaoony, :alt Leee i.eler-neeeoler - Co. Utah, orottoarcentexelVeriteempereoete of i'ow Y)r k in IIaw York The erincix}.l of said bonds shall become due and payable aerially as follows: 415,000.00 on ^aril 1st, 1928; ;316,000.00 on 'pril let, 1929; 15,000.00 on ?.pril let, 1930; ;'.16,000.00 on '.pril 1st, 1931; . 15,000.00 on epril 1st, 1932; '16,000.00 on ',pill 1st, 1933; es15,000.00 on '.pril let, 1934; 416.000.00 on '.pril let, 1935; 15,000.00 on `.pril let, 1936; -410,000.00 on ^:pril let, 1937; -3- 2. That seid bonds and each of them, except as to date of maturity, shall be in substantially the following form: "UHITT) STATES 07 ileEICA nTATE Oe' UTAH .;ALTLK3 30nTY 67LT :An: CITY ::;OND BeIRI: 07 aPRIL lst,1927. Do. :1,000.00 110'7 'LT., TITel:SE eaEaLNTn: KilePr-Peeoly " Co. That ealt Lake City in Halt Lake County, etate of Utah, hereby acknowledges itself to be indebteA and for value received hereby promises to pay to the bearer hereof the sum of OPT THOUSZD DOLLe5 ( 1,000.00) in lawful money of the United States of rneri- ea on the first day of April, H. 19 at the Central Trust • Company, Pelt Lake City, Utah, or Uggiggiic of New York in New York City, N. Y., with interest thereon at the rate of five per cent (5 ) per annum from date until paid, payable semi- annually in like money on the first days of April and. October in each year, said interest to maturity being represented by interest coupons hereto attached. This bond is one of a series of One Hundred silty-five (155) bonds of like date and amount, numbered from one (1) to one Hundred fifty-five (155) inclusive, for the aggregete sum of OBE FUNDR]e 7LATY-PITe' THAJJS' e) nOLeRe (P155,000.60) issue_, pursuant to the provisions of 6ection 570X6, Compiled Laws of Utah, 1917. It is hereby certifiee, recited and declared that the entire indebtedness of said City hereby incurred, together with all other indebtedness incurred by said City for and during the year 1927 is not in ee:cese of the taxes of said 3ity for the cur- rent year, le27. It is hereby further certified, recited and declared that all conditions, acts and. things essential to the validity oe this bond. exist, have ha2pened and have been done and that every re- ouirement of law affecting the issue thereof has been duly complied with, and that tie bond is within every debt and other limit pre- scribed by the Constitution end Laws of said State and that the full faith and credit of said ealt Take City are hereby irrevocably pledged to the punctual payment of the )rincieal and interest this bond aocording to its termo. IN j'TNA .;H-e123nP, said ealt Lake City has caused this bond to be signed by its Layor, its oorporate seal to be hereunto affixed, and attested by it City 'eecorder, as of the first day of eeril, 1927. `ayor. Attest: City eecorder. y I o each of said bonds shall be attached a coupon for each installment of interest, which said coupons shall be consecu- tively numbered, beginning with number one (1), with the several dates of payment and number of bond, which said coupons shall be in substantially the following form to-wit: f":'orm of Cou oon) do. c 25.00 .idder-Peabody Co. On the let day of '.aril - Cotober, i.e. 19_, Snit Lake City, Utah, will pay the bearer hereof at the Central Trust Company, .salt Lake City, Utah, or 7.1x.wackarx of flew York in Hey, York city, H. Y., the sum of Twenty-five end 00/100 (; 25.00) Dollars in lawful money of the United dtetes of '_ruerica, being six months interest then due, on its coupon bond dated pril first, 1927. City Treasurer. There shall be endorsed on each of said bonds the fol- lowing: hereby certify that this bond is within the debt limit of halt Lake City, Utah, and is issued according to -law. City auditor ;aid bonds and each of them shall be signed b,; the Mayor and ottested by the City recorder and sealed with the seal of said City and said coupons shall bear the original or fao-simile signa- ture of the City dreesurer. The Mayor of sold City is hereby authorized, empowered. and directed to sign, and the City .;:;corder to sign and attest end affix the seal of said City to each of said bonds and the acts of said T' ,yor and iecorder in so deine are and shall be the act and deed pi' said Leke City. i T.f a ,?1 TT AT r� 3. _,.0 IT UIr_. . .;;;:�OLV ., i,._�� .lPH:t'+;^S, by reason of the contract of date, ::arch 14, 1927, between Lower Mill Creek Ir- rigation company, a corporation, which is the owner of the water and meter rights in the Hoagland and Hurohy Pitches end te;d.ng water from Mill Creek in salt Lake County, State of Utah, and emit Lake City, said Lower kill Creek Irrigation Company agrees to con- -5- vey to said city all the water of said ditches pursuant to the terius and condition.; of sold contract in consideration that the said '4a1t ..a:ze dity issue and deliver to and Lower Lill dreek Irrigation aany its boado in the total t.,u.%:. of One Yundred ','ifty- five Thousand L'IL.,,000,00) Dollars, )aynble over a period of ten (10) L7c,,nrs, wt5.:!h aid oontraot has already bean exeoutod by the and ,)1.ty :ecorder of said city, they having been authorized to e..eoute said contract by a resolution of the '3oard •3f donnission- era of .-ait ':,a'.ze ''.ity on t3:e 14th thy of .arch, 1047. 737.3 II' 7.7a E'". ....,..-.7-','I.) that the ,:nyor and .3ity .ecorder arc horeb.7 authorized to'sim, execute, deliver and isaue ac the yetur.1. doed of _nit 7.-1ze dity the said bonds herein cx•ovide to the 7.ower 1-.111 dreek Irrigati)n doratosny, 4. 77.] 23 ',".''II:".".3 : '',',30T.7.12„ that in the °Anion of the '`doard of 'doinaissioners of said. ...silt _-,1'.:e dity, it is necessary '.-.0 the peace, health and. narety o ' said dity and the inhs'aitants thereof, that this resolution take effect and boyin for : at once, and the sanle sholi therefor take ofiect l' ...,h4ate1y upon its adoption. . 'Taal: : loner s,.. " / --seoonded the notion for the adoption of snit" resolution and. upon being put to n. vote, was err,:ie 1 the affir:notive vote of all I:onunissioners present, the irate isms 'a: follows: ;Ivor t". dlarenoe reslen Y'..."'' !ea...z-issiouer 2. 2. 7:Rirton -;yalls:'ion.Jr ::. 7..1. finahl_ lovnissilner ;has!. , . ehr '''llq ' jo:i As:1 aner 2. J. r do pted and approved this s, \1-3---, day of N\-MQrs., , '.d. 1927. _..2 -- , ---"5".... _ . illayor,,Y4. -- __:„..„..-....„._ . , : . ________„,...,.-- .......... ...- ,....„-_.-__. „..,..... ,,,.,..,7 ^, ,..r.% ,.• -v- b 6T aT 1 0? UT1? ) ( . 00UI TY +)' LT I,Al2 ) I, ?. Y. i Esg;, i ty .Aecordor in and for .Alit Lake city, Utah, do hereby certify that the above and foregoing is a full, true end correct copy of z_rooeedings had by the 'oard of 0ommie- eioners of .Snit 1rke Oity, Utah, at its meetinE, held on the day of , 1927, in so far as the aa,.rte relate to or concern the issuance of its bonds, dated the 1st day of ',aril, ,,. 1927, in the sum of :„'l55,000.00 us the some za�aesrs of record in :y office. Iig IT'i;_ r:N7 I ! c7o hereunto sot ry hand and affixed the corporate seal of said dity this day of flaroh, . 1927. ,ity -ccorder.