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Home My WebLink About56 of 1970 - A resolution setting forth the intention of the Board of Commissioners of Salt Lake City, Utah, with n Reso io NO err 1, L ;gif Courad 13:'Harrison i ' CMiee to i ./ -pntion of the Board 1 (: _ Y -1' ! `_' of:�t,ake,„City, 1 �} 95 titg ,' -, ,- t to the lisp rtion 17 i " reVealteg fl the operation of- the 1 'Lake city Internati nal Airport. 1 �, f( Presented to the Board of Commissioners ! I AND PASSED OCT 2 21970 - - CITY RECO R. f P 1 r. e 4 . •fit w .r • S. !T' -�`1C'llYiGORPO_A. iICI I OFFICE OF • MILDRED V. HIGHAM CITY RECORDER KATHERINE L BARSNICK CHIEF DEPUTY CITY RECORDER 200 CITY&COUNTY BUILDING MARILYN SMYTH SALT LAF};CITY.UTAH 54111 ADMIHISTRAnYE SECRETARY October 19, 1979 Attorney General Robert B. Hansen 236 State Capitol Building Salt Lake City, Utah 84114 Dear Attorney General Hansen: On October 18, 1979, the Board of Commissioners of Salt Lake City adopted a Resolution to issue $9,000,000 in revenue bonds for a construction project to expand the South Support Area at the Salt Lake City International Airport. This amount would be in ex— cess of the taxes for the current year since those anticipated taxes have been budgeted for other uses. I have been directed by the Board of Commissioners to attest to and to affix the seal of the City to the supplemental bond resolution, to fix a date for the receipt of sealed bids for the purchase of the bonds, to publish notice of the sale of the bonds and to execute and affix the seal of the City to the bonds. Said bonds are to be paid solely from the revenues of the Airport. The revenues to be pledged would be revenues derived from existing facilities as well as the revenues derived from the improvements to be constructed with the bond proceeds. The City currently has outstanding an aggregate of $23,000,000 general obligation bonds which were issued for the construction of Airport facilities. These bonds are a general obligation of the City and the proposition was submitted to a vote of the qualified electors of the City prior to being issued. Upon issuing said bonds, the Board of Com— missioners adopted a Resolution to the effect that it was their intent that these general obligation bonds were to be paid for out of the revenues of the Airport and not from the General Fund. From the date of their issuance to present these general obligation bonds have been paid, both as to principal and interest, from the revenues of the Airport. The Board of Commissioners now intend to issue this new series of revenue bonds without an election in order to save the cost of such election. The purpose of this letter is to request counsel from you as to the legality_- of such action. Please advise me whether I should do those things which the Board has directed me to do or whether such an issue is illegal or unconstitutional. Sincerely, MILDRED V. HIGHAM City Recorder Salt Lake City, Utah October 22 1970 The Board of Commissioners of Salt Lake City, Salt Lake County, Utah, met in regular session at its regular meeting place in the City Hall in said City at 10:00 o'clock A .M., on the 22nd day of October , 1270, with the following mem- bers of the Board of Commissioners present, to wit: J. Bracken Lee, Mayor James L. Barka, Jr. , Commissioner George B. Catmull , Commissioner E. J. Garn , Commissioner Conrad B. Harrison , Commissioner There were absent: None There were also present Herman J. Hogensen, City Recorder and Jack L. Crellin, City Attorney. After the meeting had been called to order, the following resolution was introduced in writing, was read in full and pursuant to motion duly made by Commissioner Harrison , and seconded by Commissioner Catmull , was adopted by the following vote: YEA: Mayor J. Bracken Lee, Chairman Commissioner James L. Barker, Jr. Comnissioner George B. Catmull Commissioner E. J. Garn Commissioner Conrad B. Harrison H NAY: None. The resolution was then signed by the Mayor in open meeting and recorded by the City Recorder. The resolution is as follows: RESOLUTION NUMBER 56 A RESOLUTION setting forth the intention of the Board of Commissioners of Salt Lake City, Utah, with respect to the disposition of revenues from the operation of the Salt Lake City International Airport. WHEREAS the City of Salt Lake City now owns and operates an airport known as the "Salt Lake City International Airport'; and WHEREAS by resolution adopted this day, a special election has been called to be held in Salt Lake City, Utah, on December 1, 1970, for the purpose of submitting to the qualified electors of Salt Lake City, Utah, the question of the issuance of $25,000,000 General Obligation Airport Bonds of said city for the purpose of defraying the cost of improving and extending the municipal airport of said city by adding to and remodeling the existing airline terminal building and facilities, constructing additional auxiliary buildings and facilities to be used in connection with the operation and maintenance of the airport, improving and rehabilitating airport runways, making site relocation of airport utility facilities made necessary by reason of such improvements and extensions, together with the acquisition of all land necessary therefor, and the acquisition of all appurtenant facilities necessary or convenient in connection with such improvements and extensions, all for the use of the traveling public and others using the municipal airport facilities; and WHEREAS such $25,000,000 General Obligation Airport Bonds of said city, when issued, will be payable according to their tenor and terms from ad valorem taxes to be collected without limitation as to rate or amount on all taxable property within the boundaries of the city; and • -2- H • WHEREAS the city has heretofore entered into "Salt Lake City International Airport Landing Fee Agreements" with Frontier Airlines, Inc.;Hughes Air Corporation, dba Air West; Texas International Airlines, Inc.;United Air Lines, Inc.;and Western Air Lines, Inc. American Air Lines, Inc. (to be effective as of October 25, 1970). being all of the Air Lines serving the Salt Lake City International Airport, each of which agreements provides for the payment by said Air Lines of certain landing fees, and for certain credits against the aviation fuel tax receipts, for the use of the airport and appurtenances, together with all facilities, equipment, improvements and services which have been or may hereafter be provided at or in connection with the airport from time to time, all in contemplation of the submission to the qualified voters of Salt Lake City of a proposition calling for a general obligation bond issue in the amount of $25,000,000 for the purposes described above and the eventual issuance, sale and delivery of said bonds by the city; and WHEREAS it is now the desire of the Board of Commissioners of the city to declare its intentions to apply the revenues of the airport, including such landing fees and credits so received from the Air Lines serving Salt Lake City to the payment of' (1) the expenses of maintenance and operation of the Salt Lake City International Airport, (2) to the extent legally possible and to the extent available to the payment of principal of and interest on the bonds heretofore issued by the city for airport purposes, and when issued the $25,000,000 General Obligation Airport Bonds, if authorized at the December 1, 1970, election, so that the ad valorem taxes otherwise necessary to be collected in each year may be abated, and (3) in such other lawful manner as may be determined by the Board of' Commissioners; -3- NOW, THEREFORE, Be.it and it is Hereby Resolved by the Board of Commissioners of Salt Lake City, Salt Lake County, Utah as follows: Section 1. That it is hereby declared to be the intention of the Board of Commissioners of the City of Salt Lake City, Utah, to devote the revenues received from operation of the Salt Lake City International Airport, including the landing fees and aviation fuel tax credits, received by the city pursuant to the "Salt Lake City International Airport Landing Fee Agreements" executed with each of the following Air Lines: Frontier Airlines, Inc.; Hughes Air Corporation, dba Air West; Texas International Airlines, Inc.; United Air Lines, Inc.;and Western Air Lines, Inc. American Air Lines, Inc. (to be effective as of October 25, 1970). so far as legally may be possible and to the extent available AND TO ISSUE BONDS LIMITED TO SUCH AMOUNT AS CAN BE SERVICED AS TO BOTH PRINCIPAL AND INTEREST FROM PROCEEDS OF REVENUES DERIVED FROM AIRPORT OPERATIONS, (1) to the payment of the expenses of maintenance and operation of the$alt Lake City International Airport as improved and extended with the proceeds of $25,000,000 General Obligation Airport Bonds of said city to be voted on at a special election to be held therein on December 1, 1970, if as and when said bonds are sold, issued and delivered, (2) to the payment of the principal of and interest on the bonds of the City of Salt Lake City heretofore and hereafter issued for the purpose of acquiring, constructing, improving and extending the Salt Lake City International Airport, and (3) in such other lawful manner as may be determined by the Board of Commissioners, all to the end that the collection of ad valorem taxes in each year to pay such i7a1 and interest shall be abated in each such year whenever there shall be deposited into the sinking funds for the payment of such bonds in each such year sufficient revenues from the aforesaid landing fees and aviation fuel tax credits collected pursuant to said agreements to pay the principal of and interest on said bonds as the same falls due, that nothing herein contained shall be construed as conferring cont ractual rights on the holders of any of _g_ said $25,000,000 General Obligation Airport Bonds, if, as and when issued, insofar as the application of such revenues is concerned. Section 2. That immediately after its adoption, this resolution shall be signed by the Mayor and City Recorder, shall be recorded in a book kept for that purpose and shall take immediate effect. Passed and approved October 22 , 1970. ,Z1 /- ../.7 Mayor Attest: o k �� City ecb er (Here follows other business not pertinent to the above.) Pursuant to motion duly made and seconded, the Board of i Commissioners adjourned. ,407 / �,/ / Mayor Attest: .44j?CiVh,rder STATE OF UTAH ) COUNTY OF SALT LAKE ) I, Herman J. Hogensen, hereby certify that I am the duly qualified and acting City Recorder of Salt Lake City, Salt Lake County, Utah. I further certify that the above and foregoing constitutes a true and correct copy of the minutes of a meeting of the Board of Commissioners of Salt Lake City, including a resolution adopted at said meeting, held on October 22 , 1970, as said minutes and resolution are officially of record in my possession. IN WITNESS WHEREOF, I have hereunto subscribed my official signature and affixed the seal of said city this 22nd day of October , 1970. RIPvnnlr� (SEAL) t R order -5-