HomeMy WebLinkAbout56 of 1915 - A resolution granting authority to the Salt Lake Terminal Company to include franchise privileges gr REMARKS
Resolution No. 56
By Commissioner Morr is
Granting authority to the
Salt Lake Terminal Company to
include franchise privileges
granted by the City of Salt Lake,
in Dedd of Trust to The Inter-
national Trust Co.
OPTED
ROLL CALL
‘S- 191.VOTING Vas No Salt Lake City,Utah, July 27,
- I move that resolution No a aa, by Mr.
be adopted.
Lawrence
tUtAMàr /•,CY`r—I:k,
Mr.CAlairman
Ramat
r
liESOLUT,I Q.N
Resolution authorizing and confirming the
assignment of those certain franchise rights held by the
Salt Lake Terminal Company by virtue of franchise passed
by the City Commission of Salt Lake City on December 31st,
1913, and any and all subsequent supplements and amendments
thereto.
rfhr.REAS, on the 31st day of December, A. D.
r;-
1913, by_an. ordinance passed upon said date, the Board of
Commissioners of Salt Lake City did make and gr-,nt to the
Salt Lake Terminal Company a franchise to lay, construct and
operate a single or double track standard gauge railroad over,
along and upon First West Street between the North side of
North..Temple Street„ and Sixth Saathi Street;, also along . ,
Pierpont Street between West Temple Street and First West 3F
a:e
Street, one of the provisions of such ordinance being:
That said franchise and the rights granted
therein should not be assigned by the Grantee without the'
consent of the Board of Commissioners of said City; and,,
iREAS, the Salt Lake Terminal Company did
thereafter receive from the City of Salt Lake additional
franchise rights as supple etal to or amendatory of said
original franchise; and,
WHEREAS, said Salt Lake Terminal Company has
at all .tomes and in:el thin complied-with the terms et "
said franchise; and,
8tiid Salt Lake Terminal COmpany is now
operating ufider and by" ; tue of said franchise in the City
of Salt Lake, and sekd tr .ne ise is now in full force and
effect; and,
1 '
i- REA.S', for the purpose of completing the
construction of' its Terminal facilities and the enlargement
of its operations, said Salt Lake Terminal Company is now
about to issue bonds, secured by Deed of Trust, given to the
International Trust Company, a corporation of Denver, Colorado, " ,
Trustee, pledging its franchises and ,ptoperty,,for pa3tment
of said bonds. Nor, therefore; be it:
RESOLVED, by the Board of Commissioners of
Salt Lake City that the authori•cy and,,.righ •;is hereby given
to the Salt Lake Terminal Company to include and incorporate
in said Deed of Trusty and to thus assign all the franchise
rights obtained by it from .the City of Salt Lake under and by
virtue of said original ordinance and any enppl cram ts or
amendments thereof:
+° The City of .$41t L ite, by £e )34ard',d
Commissioners, hereby authorizing, ratiring and confirming
any such action upon ther.xt of the Salt Lake Terminal
Company done and performed for the purposes and under, the
conditions in this resolution above referred to, and passed
by the Board of.,Commissioners- of Salt Lake. City, upon this
the .. , day of July . . D. 1915.
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PRO TER '
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