5 of 1922 - A resolution directing the City Auditor to issue special improvement bonds to Utah Power and Light C \ . —t
REMARKS
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ROLL CALL
VOTING AYE NAY Salt Lake City,Utah, April 20, 1922.
Barnes
I move that the resolution be adopted.
Burton
Green
Stewart
Mr. Chairman
Result RESOLUTION
WHEREAS, The Board of Commissioners of Salt Lake City, Utah,
did, on the 16th day of August, 1920, duly adopt a resolution of inten-
tion to establish Lighting District No. 6, in said city comprising both
sides of State Street between South Temple street and 4th South street
in said city and to improve said district by constructing and erecting
ornamental iron standards and ornamental luminous aro lamps for the pur-
pose of lighting said street, and
WHEREAS, said notice of intention was duly published as re-
quired by law and all proceedings had, and taken, as provided by law
to give said Board of Commissioners jurisdiction to proceed with said
improvement and said Board of Commissioners did acquire jurisdiction
to proceed with and compete said improvement and levy an assessment upon
the property abutting and adjacent to said street for the cost of said
improvement whereupon a contract was duly made and entered into by and
between said Salt Lake City and the Utah Power & Light Company, a cor-
poration, for the construction and erection of said lighting system, and
WHEREAS, said work was duly completed and on the 24th day of
January, 1922, an ordinance was duly passed by the Board of Commissioners
of Salt Lake City and published as required by law which said ordinance
provided for and made the levy of the assessment for the cost of said
improvement upon the property in said district abutting and adjacent
to said street and benefited by said improvement, and
WHEREAS, on the 24th day of January, 1922, a motion was
adopted by said Board. of Commissioners wherein the city auditor was in-
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struoted to issue special tax warrants to said contractor in •
11 payment of the amount due under said contract, and
WHEREAS, the contractor has notified the Board of Com• 1
i missioners of its desire that said special improvement bonds pay-
able serially be issued to it instead of special tax warrants.
NOW THEREFORE BE IT RESOLVED that the city auditor be,
• and he is hereby direoted to issue and deliver to Utah Power do i
Light Company, a corporation, in payment of all amounts due by
virtue of its contract for conatraotinn of lighting system in said
district, special improvement bonds with interest coupons attached
in substantially the following form, to-wit:-
STATE OF UTAH
COUNTY OF SALT LAkE
1111 SALT LAKE CITY
' SPECIAL IM ROVEKENT BOND
LIGHTING DISTRICT
#6.
No
KNOW ALL MEN BY THESE PRESENTS:
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That Salt Lake City, in the County of Salt Lake, State i
of Utah, a municipal corporation duly organised and existing, for
I value received hereby promises, out of funds available for the
purpose, as hereinafter set forth, to pay to bearer the sum of
in lawful money of the
united States of Amerioa, with interest thereon at the rate of si#
' per cent per annum, payable annually in like money on the
1 day of , in each year, upon the presentation and sur-
render of the interest coupons hereto attached, both principal j
and interest being payable at the office of the City Treasurer,
Salt Lake City, Utah, In event of failure to pay this bond when
due, it shall draw interest at the rate of eight per cent per annl
until paid.
This bond is drawn upon the City Treasurer against the 1
special tax levied upon the property included in Lighting District
1 No. 6 of said City, to pay the cost of installing lighting equip-
ment in said Lighting District, under, by virtue of and in full
conformity with the Constitution and laws of the state of Utah, I
particularly Chapters 14, 18 and 17 of Title 16 of the Compiled
Laws of Utah, 1917, Chapter 9, Laws of Utah, 1921 and all acts Rut
plemental thereto and amendatory thereof and also ordinances of
said city duly passed and made a law thereof prior to the issuance
I hereof.
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A special improvement guarantee fund has been created b*
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said city as provided in Chapter 9, Laws of Utah, 1921, and said 1
City agrees that at all times during the life of this bond and
until payment thereof in full, said fund shall be at all times
maintained. This bond is payable exclusively out of said special'
tax and the said special improvement guarantee fund, and neither !
said city nor any officer thereof is holden for the payment there..
of otherwise.
It is hereby certified,, recited and declared that all
acts, conditions and things essential to the validity of this
bond exist, have happened and have been done in due time, form
and manner as required by law, and that the total issue of bonds
of said City for said Lighting District, including this bond,
does not exceed the taxes levied to cower the cost of said improv$-
ment and that all of said taxes have been lawfully levied.
IN WITNESS WHEREOF, Salt Lake City, Utah, has caused
this bond to be signed by its Mayor, and attested by its City '
Recorder, and drawn by its City Auditor on its Treasurer, and thel
ii annexed coupons to bear the fact-simile sig-nature of said City
Auditor, and this bond to be dated the day of
1922.
MAYOR
Attest:
City Recorder.
li
City Auditor.
(FORKS OF COUPON)
No. $
On the day of , 19 , Salt Lake City;
Utah, will pay tourer, at the office of the Trty Treasurer,
Salt Lake City, Utah, the sum of $ lawful money.
li of the United States of America, being one year's interest due
on that date, on its Lighting District No. , bond, dated
19 , No. , this coupon.being payable from the;
funcTs described in said bonds.
•
City Auditor.
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That the Mayor and City Recorder be, and they are hereby*
authorized and directed to sign and attest said bonds, respective.
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ly, and that the city recorder affix the official seal of Salt
Lake City thereto; that the City Auditor be, and he is hereby
directed to certify said bonds in the following language:
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"I hereby certify that this bond is issued
within the lawful debt limit of Salt Lake
City, Utah, and is issued according to law.
City Auditor".
That said bonds be issued aerially, one third of the
total issue to beoome due one year from date of issue, one third
of the total issue to become due two years from date of issue and .
one third of the total issue to become due three years from date
of issue.
In the opinion of the Board of Commissioners, it is
1 necessary for the peace, health and safety of the inhabitants of
Salt Lake City that this resolution beoome effective at once.
This resolution shall take of of immediately.
Passed by the Board of Commissioners this 1.1 day
of C '� , A. D. 1922.
Temporary Chairman
ity Recorder.
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