4 of 1932 - A resolution authorizing the issuance of tax anticipation bonds in the sum of $50,000, Series of Feb REMARKS: •
Resolution o... 4 a •
t..
Sy Commiautonn Marcus
Authorizing the i ssu.ance `f':,
tax anticipation � .
of bonds in the sues of ,
J �.50 QQ '
! ..Series of Feb. 16, 1932. ` r'`
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G I p
' t fieeditd to the Bated of
1 F J.01932 I
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ROLL CALL _ I
Salt Lake City,Utah, Feb. 16 19S 2
VOTING AYE NAY
Finch I move that resolution No.._.._..4
by Mr
Keyser be adopted.
Eta
gh
e
irman - -
Result
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The ooard. of Commissioners of Halt Lake City, Utah, met
in regular session on the kith day of February, 197,,P, at the hour
of ten otclock i:., at the regular meeting place of said Board in
he City & County 3uilding, Salt Lake City, Utah, Mayor Marcus in
the chair.
On roll call the following members were present:
- ;"�,M_�-�k__ r '--___, Commissioner of Huhlic Cafety,
_4.,,1,11 _ 1, 44__—__,Commissioner of Far'ks and Public
Promerty.
9
_ '.t _ft%_� ', ___-_ ,Commissioner of Streets & Puhlic
Improvements.
—=/,!0-__ ^ ,,, _,Commi.ssioner of Cater `?u_�ly & Cater-
Torks.
__,., J"IL421, ,01,' --.---,Commissioner of Public fr ai rs &
Finance, Chairman.
Lino ::resent lTHLL :':AC:cO:''1LLLD, City becorder.
Commissioner ,,YrvI4introduced the following resolution
snd moves its adog'tion:
RESOLUTIO N.
CHEI? AS, there is immediate and eressin.p need for raising
fund to the amount of Fifty Thousand Dollars (c;;50,000.(r) for the
purpose of meeting the current e:aenses of the City for the year TOLE
until the payment of taxes for the ,year 1d7,C, and
'.HE'".CS, the tax revenues of `'alt Lake City, Utah, for the
year 297E will ay,re,tate Two Million Twenty-five Thousand Three Hun-
dred One and O,1;100 (.: ,(Y5,,01.04) Collars and the total revenue
from all assessed sources will as.-reate Three Mi'lion, One Hundred
flinety-one Thousand, Eight Hundred One end 04/10,-' ( c,lo1,90i.04)
r'oisa.rs; and
.:HEBtES, the sum of Fifty 'Thousand Collars (;50,000.Y)
require nor to he raised is not in excess of said revenue as estimat-
ed for the year 10-t.
NOS;, TCEIIEFOIUi, 3E IT IIESOLVE3 by the ^oard of Commission-
ers of Salt Lake City, Utah, that 7.alt Lake City, Utah, for the pur-
pose of meeting current ex-enses of said City for the year 19CC until
the nayment of taxes for the year 19''=, shall borrow the sum of Fifty-
l►` _
Thousand ''oh ere (;350,000.00) and for that surddose a.s evidence of
such indebtedness shall issue and sell too hurried sixty (f:30) ?,ons
thereof, ponds numbered One (1) to too hundred sixty both
inclusive; hones numbered_ one (1) to two hundred ( 00), both inclu-
sive, being in the denomination of One Hundred i oll-ars (�.�h0O.00)
each, and bondn, numbered tyro hundred one ( 01) to two hundred sixty
both inclusive, being in the denomination of five Hundred.
-ollars (;:51O.00) ccch. -aid bonds shall bear date of 7e',ruary 16,
shall hear interest at the rate of six "er cent (3%) ner annum
7.syab1e semi-annually on the 1,°th day of i_u-ust, J.::C C, and the 1Cth
day of February, 1277, bath nrinci2al and interest ;able at the
office. of City Treasurer of halt Lake City, City and County coil
Halt Lake City, Fitch. aid bonds shall be desi_gnated. "Salt Late
City Tax Lntici,:eti.on 'ones, Series of February 1 U, l-fa''[ .'' id
bona rha'l be due and -o ie on the 1 ith day of February, L.
1' C, is lawful money of the United ftates and shill ber..r interest
from the 1Cth day of February, .l!. r. 19 0 . "aid kond.s shah? ' e r i,Rn_
eC the Mayor r.n.' attests h the City Recorer unecr the seal of
the city -a rai cou,;one shall bear the fac-simile signature of the
City Lrcasurcr. ^a;.r'- bo__r an coo o,as shall be r sterol in a hook
se_,t by the City 1u itor for that 2ur:ose, and the C'ty -u itor ..hall
en arse on each o- :7-id bonCs, the certificate rec a_ref y 1_a:.-. qei$
�onG nc each of them shah he (exec at a, to nunfiy:ra c.nd amidnt) in
s ubrtantial'y the follev.i n form, to-::it:
7TL.TL OF UTLII
COUNTY OF OLIX IHKE
LP T- '-r.1'; CITY T 10I:'3TIOU 003f3
aeries of Fe',rua:ry 18,
No. l =121.0 -
;,, rrr ,a.__a Fv TCF,., 3C-L1Tu, tIlat lelt Make City in the
County of C It Lake, in the tote of Utah, her ',y c no 'he.-es it-J
�
self to , in .bte ! -..n , for value received, hereby ror.1 ea to r
to the '.e.:re r hereof, the sum of One .0 i,red ( 11' on) Fellers in law-
a.ful ful ;coney of t' e Unites _t::tes on the 1"th ra ; of T e ruarJ, 1. County.
^t the office of the City 'Tre. surer of Felt Lake City,
City-niLn in 'all; Lake City, Utah, U. C• l-. with interest thereon at,,
the rate of six -er cent (C ) nor annum from date until :>aid_, in like
money nayable semi-annually on the 16th day of :ku ust, I9;'tom, and the
'16th day of February, l9:7, said interest to maturity being repre-
sented by interest couprOns hereto attached.
This bond is one of a series of two hundred sixty (260)
bonds of like tenor and effect, numbered one (I) to two hundred
Sixty (260) both inclusive; bonds numbered one (I) to two hundred
(200 both inclusive, being in the denomination of One Hundred Poi-
'Iars C:IC(1.00) each, and bonds numbered two hundred one (20i) to
two hundred sixty (260), both inclusive, being in the denomination
of Five Hundred Dollars (;5C0.00) each, and known as /Tait Lake City
:lax inticination Ponds, Series of February 16, 1932,v for the aggre-
gate sum of Fifty Thousand Tollars (650,0s0.00), issued pursuant to
Vection 570y6, Com iled Laws of Utah, I977, and ail acts -amendatory
thereof and su .ulementel thereto.
The City of Salt Lake shall levy in the year 1662 a suffi-
cient tax to pay the -rinci eal and interest on this bond as the same,
shall fall cue, and this bond is issued in anticipation of rUchtaxes
for the year 1932.
It is hereby certified, recited and declared that the entire
indebtedness of said city ::sere',- incurred is not in excess of i;he
taxes of arid city levied or to be levied for the current year in32,
and that said indebtedness was and is contracted for'the purpose for
which said taxes are levied.
It is hereby certified, recited and declared that all condi=-
tions, acts and things essential to the validity of this bond exist, '
have hapeened and have been done, and that every recui_rement of law
affecting the issue thereof has been duly complied with, and that this
bdnd is within every debt and other limit prescribed by the Constitu-
ti;on and Laws of said State, and that the full faith and credit of
said Salt Lake City are hereby irrevocably pledged to the lunctual
;ayment of the principal and interest of this bond according to its
terms.
IN vvITNFSS L-Hl FLOF, Salt Lake City has caused. this bond to
be signed by its Mayor, its corporate seal to be hereunto affixed,
and attester by the City D-ecord_er as of this day of
@. I'. i97 .
Mayor.
Ettest:
City Recorder.
•
To each of said bonds shall be attached : couon for each
installment of interest contemeleted by said bond, which raid coupons
shall be consecutively numbered, beginning with No. 1, with the
several dates of payment and number of bond and shall bear the fac-
simile signature of said City Treasurer, and said coupons and each
of them shall be substantially in the following form, to-wit:
(FORM OF COUPON)
No. 1
-4-
On the 16th day of August, 19`:L, and:the loth day of
'+February, 1973, Salt Lake City, Utah, will pay to the bearer hereof,
Fiat the office of City Treasurer of Salt Lake City, City and County
Fuihding, Salt Lake City, Utah, the sum of Three and 00/100 ($a.00)
bollars ih Gold Coin of the United States of Cmeri_ca of the .resent •
Standard of weight and fineness, being six months' interest then
due on its Tam Lnticigati on Conti:, Series of February 1'C, 19 -.
fFac-simile signature'____
City Treasurer.
pond No._ _
There shall also be endorsed on each of said bond the
follo;,1a City '.u; itor':= re rtificote:
"I hcre',,, certify that this bond is within the
lawful debt limit of Celt take City, Utah, and
is isrued. accorCim7 to law.
•
---- -_City r.uditor.i'---_______.
T11 the covenants, statements, representations and e;ree-
ments contained in saiq bonds are hereby' ado?te'. as covenants, state--
Meets, re_-resentations, agrenments and promises of Salt Lake City,
Utah.
The Mayor of Bait Lake City is hereby authorized end direct-
ea to sign and. execute said bonds and the City llecnrcr is here ,,
authorized a.nc directed to attest and affix the seal of Salt Lake
and t',.e City Auditor is authorized and directed to place upon said h
City to each of : aid :ond"the crrt fic•_te in the :.la.nne.r and form set
forth o-rove, and saiC. coi:ons shall bear the fac-simile si_ ;reture of
the City T rr,a.^urer, the acts of Mayor, City decor''er, Trea-
surer rnd '-u,'itor in so doing rc anC shall be the act deed_ of
Sn t Lake City.
That the City Treasurer is %,ereby authorizes' to ,cliver
said. bonds to the purchasers thereof, as end when said bonds may be
and. are le«elm deiivcred -cursuant to authorization of the
Board of Commissioners at a regular meeting held February 16th, 19-3d.
That the Board of City Commissioners shall levy in the year
19 a sufficient tax to ,-ay principal and interest on said bonds as
the same anall fall due and for the payment of said bonds the full
faith, credit and taxing _cover of Salt Lake City are hereby irrevoca-
bly pledged and the Board. of City Commissioners hereby covenants and
agrees with the holders of laic_ bonds to levy in the year 19C,12 suffi-
-5-
i-ent taxes to _rovide for the Te.yent of the princi-;al and inter-
st of said bonds.
That en emergency is herc-b-- declared and in the o inion
of the Coerd of Commissioners because of the necessjty for funds
with rrh ch to r^eet the current ex"-enses of said city it is necessary
to the ..cc-ec, health car. _:•fety of the inhahitcnte of °alt Lu31Fe City
II
that this resolution tra'.e ef'fF:ct at once
This resolution shall take __cc ❑,on ado:tion.
Mayor.
ttest:
� r
7
lk
City '�ecori e
The ado do_ of the foregoing resolution Lou second<(?
Commissioner _ and the same on being -vt to a vote �.ar
unanimously cur.ri -iv the affirmative ivr_ vote of a7.' Commirui r:ners
ren t� the ote- ci,)., fol7.o.us:
Mayor rfl,ult
CorJms7ioner
"}J k _ _ Coi .ioner
n
._',u
_—�✓./YY t. ._-1-Y-'.f- — a_ __� �I O.'?-'1i 1.0.'er
Mayor.
�`ttteet: r,
City