HomeMy WebLinkAbout57 of 1975 - A resolution authorizing the issuance of $8,500,000 General Obligation Airport Bonds, Series 1975, o I. 4 �ii, �; Resolution 1�
^ gy Mayor Conrad B. Harri8 �COIAMIIMs�i
v I
.ar Authorizing the issuance of$8,500,000-1I pa r
j General Obligation Airport Bonds, Se'4c x.;
5'', 1975, of Salt Lake City, Utah, providig
�°I, for the levy of taxes to pay the principal
°'' of aid interest on said bonds, fixing the, it
„'= place of payment thereof, ratifying
publication of the notice of sale with
respect thereto, making certain firth
tthd covanants in connection therewith,
providing for the publication of a
Notice of Bonds to be issued, and
providing for a contest period.
I
OCT 7 1975
, ?low relwirmord•
II I
I
Y
4" aI
BID FORM
$8,500,000
GENERAL OBLIGATION AIRPORT BONDS
SERIES 1975
SALT LAKE CITY, SALT LAKE COUNTY, UTAH
City Recorder
City and County Building
Room 301
Salt Lake City, Utah 84111
Dear Madam:
For$8,500,000 par value General Obligation Airport Bonds,Series 1975,of Salt Lake City,dated
November 1, 1975, denomination $5,000 and maturing serially on July 1,1978 through July 1,1997;
in the amounts shown herein,with interest payable July 1, 1976, and semi-annually thereafter on
the first days of January and July of each year at the rate or rates specified herein until said bonds
are paid,we will pay$Sa?1 mC'C) plus accrued interest to the date of delivery of said bonds to us.
The schedule of maturities,coupon rate or rates,total interest cost,the net interest cost,and the
effective rate of interest upon which this bid is based with interest computed from November 1,
1975 to the maturity date of the bonds are as follows:
Maturity Date Cumulative
(July 1) Amount Coupon Bond Years Bond Years
1978 $220,000 ''•2. % 586.667 586.667
1979 230,000 G,'SC % 843.333 1,430.000
1980 250,000 '' ' % 1,166.667 2,596.667
1981 265,000 6.S' % 1,501.666 4,098.333
1982 280,600 lv•-s0 % 1,866.667 5,965.000
1983 300,000 w•SO % 2,300.000 8,265.000
1984 320,000 6.,sc % 2,773.333 11,038.333
1985 340,000 :o•aG, % 3,286.667 14,325.000
1986 365,000 ,SO % 3,893.333 18,218.333,
1987 385,000 (p,,SO % 4,491.667 22,710.000
1988 410,000 47,40 % 5,193.333 27,903.333
1989 440,000 &•/C % 6,013,334 33,916.667
1990 470,000 6,/C % 6,893.333 40,810.000
1991 500,000 /, /O % 7,833.333 48,643.333
1992 530,000 '-'s- % 8,833.334 57,476.667
1993 565,000 �•2 S % 9,981.666 67,458.333
1994 600,000 l.?, _.% 11,200.000 78,658.333
1995 640,000 &•2-. % 12,586.667 91,245.000
1996 680,000 Cv• --0 % 14,053.333 105,298.333
1997 710,000 -5 0,9 % 15,383.334 120,681.667
Total Interest to Maturity ...i 4_0,$b�C•k4--
Less Premium
Net Effective Interest Cost 7 4C-3,3 Gi.E
Net Effective Interest Rate (,/%4" ..
This bid is submitted in accordance with and subject to all provisions contained in the Official
Notice of Bond Sale of these bonds which by this reference is made a part hereof.
A cashier's check or certified good faith check in the sum of$170,000 drawn upon an incorpo-
rated bank or trust company mid payable to the City Treasurer of Salt Lake City is enclosed to be
retained by said City Treasurer and applied on the purchase price of these bonds if we are the suc-
cessful bidder, otherwise to be returned to us.
We hereby name as
paying agent or will so name the paying agent within three days after the receipt of bids as required
in the Official Notice of Bond Sale.
Respectfully submitted this 7th day of October, 1975.
FIRST NATIONAL CITY BANK
UNITED CALIFORNIA BANK
MERRILL LYNCH, PIERCE, FENNER
& SMITH, INC.
BEAR, STEARNS & COMPANY
(JOINT MANAGERS)
FIRST ENNCO SECURITIES, INC.
STEP S
----------
BY: u1�J.- AS:SIAN...CASHIER
Accepted for and on behalf of Salt Lake City,Utah,this day of
1975.
Mayor
AFlAST:
City Recorder
Good faith check returned and receipt thereof acknowledged this day of
1975.
BID FORM
$8,500,000
GENERAL OBLIGATION AIRPORT BONDS
SERIES 1975
SALT LAKE CITY, SALT LAKE COUNTY, UTAH
City Recorder
City and County Building
Room 301
Salt Lake City,Utah 84111
Dear Madam:
For$8,500,000 par value General Obligation Airport Bonds,Series 1975,of Salt Lake City,dated
November 1, 1975, denomination $5,000 and maturing serially on July 1,1978 through July 1,1997;
in the amounts shown herein,with interest payable July 1, 1976, and semi-annually thereafter on
the first days of January and July of each year at the rate or rates specified herein until said bonds
are paid,we will pay$5 ,0 2.,plus accrued interest to the date of delivery of said bonds to us.
The schedule of maturities,coupon rate or rates,total interest cost,the net interest cost,and the
effective rate of interest upon which this bid is based with interest computed from November 1,
1975,to the maturity date of the bonds are as follows:
Maturity Date Cumulative
(July 1) Amount Coupon , Bond Years Bond Years
1978 $220,000 .Z3 % 586.667 586.667
sG %1979 230,000 &' 843.333 1,430.000
1980 250,000 (-,SL % 1,166.667 2,596.667
1981 265,000 4.SO % 1,501.666 4,098.333
1982 280,000 (p•..s-0 % 1,866.667 5,965.000
1983 300,000 6•-TO % 2,300.00l 8,265.000
1984 320,000 lG•Sb % 2,773.333 11,038.333.
1985 340,000 (o.,-G' % 3,286.667 14,325.000
1986 365,000 6,So % 3,893.333 18,218.333.
1987 385,000 lP,SO % 4,491.667 22,710.000)
1988 410,000 lP,40 % 5,193.333 27,903.333,
1989 440,000 to./0 % 6,013,334 33,916.667
1990 470,000 6,70 % 6,893.333 40,810.000
1991 500,000 4, /O % 7,833.333 48,643.333
1992 530,000 W'--5- % 8,833.334 57,476.667
1993 565,000 6•2.i% 9,981.666 67,458.333.
1994 600,000 ec2:., ..% 11,200.000 78,658.333
1995 640,000 &.2-.S % 12,586.667 91,245.000
1996 680,000 w. % 14,053.333 105,298.333
1997 710,000 z 00 % 15,383.334 120,681.667
Total Interest to Maturity .-7j 4 r3 0,84-
Less Premium
Net Effective Interest Cost 7_4-0 3 3&0,�'�
Net Effective Interest Rate 6.,_Lg 2 ..
This bid is submitted in accordance with and subject to all provisions contained in the Official
Notice of Bond Sale of these bonds which by this reference is made a part hereof.
A cashier's check or certified good faith check in the sum of$170,000 drawn upon an incorpo-
rated bank or trust company and payable to the City Treasurer of Salt Lake City is enclosed to be
retained by said City Treasurer and applied on the purchase price of these bonds if we are the suc-
cessful bidder, otherwise to be returned to us.
We hereby name as
paying agent or will so name the paying agent within three days after the receipt of bids as required
in the Official Notice of Bond Sale.
Respectfully submitted this 7th day of October, 1975.
FIRST NATIONAL CITY BANK
UNITED CALIFORNIA BANK
MERRILL LYNCH, PIERCES FENNER
& SMITH, INC.
BEAR, STEARNS & COMPANY
(JOINT MANAGERS)
FIRST PENNCO SECURITIES, INC.
STE 'ENS
BY: [�{� S SI t.E•17_CASHlER
Accepted for and on behalf of Salt Lake City,Utah,this day of
1975.
Mayor
ATTEST:
City Recorder
Good faith check returned and receipt thereof acknowledged this day of
1975.
BID FORM
$8,500,000
GENERAL OBLIGATION AIRPORT BONDS
SERIES 1975
SALT LAKE CITY, SALT LAKE COUNTY, UTAH
City Recorder
City and County Building
Room 301
Salt Lake City,Utah 84111
Dear Madam:
For$8,500,000 par value General Obligation Airport Bonds,Series 1975,of Salt Lake City,dated
November 1, 1975, denomination $5,000 and maturing serially on July 1,1978 through July 1,1997;
in the amounts shown herein,with interest payable July 1, 1976, and semi-annually thereafter on
the first days of January and July of each year at the rate or rates specified herein until said bonds
are paid,we will pay$.S py 000 plus accrued interest to the date of delivery of said bonds to us.
The schedule of maturities,coupon rate or rates,total interest cost,the net interest cost,and the
effective rate of interest upon which this bid is based with interest computed from November 1,
1975,to the maturity date of the bonds are as follows:.
Maturity Date Cumulative
(July 1) Amount Coupon Bond Years Bond Years
1978 $220,000 6,'2- % 586.667 586.667
1979 230,000 &•SG % 843.333 1,430.000
1980 250,000 "' 5'U % 1,166.667 2,596.667
1981 265,000 6•SD % 1,501.666 4,098.333
1982 280,000 ,'-�C, % 1,866.667 5,965.000
1983 300,000 6•SP % 2,300.000 8,265.000
1984 320,000 .,,S0 % 2,773.333 11,038.333.
1985 340,000 (,. 0 % 3,286.667 14,325.000
1986 365,000 6,S0 % 3,893.333 18,218.333.
1987 385,000 4,SO % 4,491.667 22,710.000,
1988 410,000 &•4-0 % 5,193.333 27,903.333,
1989 440,000 6v•/0 % 6,013,334 33,916.667
1990 470,000 6,/0 % 6,893.333 40,810.000
1991 500,000 .( /D % 7,833.333 48,643.333
1992 530,000 • .--'-- % 8,833.334 57,476.667
1993 565,000 6•Z S--- % 9,981.666 67,458.333
1994 600,000 &./-.,�i..%a 11,200.000 78,658.333
1995 640,000 &•Zz % 12,586.667 91,245.000
1996 680,000 •'9-0 % 14,053.333 105,298.333
1997 710,000 .,5`,00 % 15,383.334 120,681.667
Total Interest to Maturity ..7...4-c 7320,S-4—
Less Premium .
Net Effective Interest Cost .7 4c=,3: ,S 4--
Net Effective Interest Rate G,.!3�1.-L..
This bid is submitted in accordance with and subject to all provisions contained in the Official
Notice of Bond Sale of these bonds which by this reference is made a part hereof.
A cashier's check or certified good faith check in the sum of$170,000 drawn upon an incorpo-
rated bank or trust company and payable to the City Treasurer of Salt Lake City is enclosed to be
retained by said City Treasurer and applied on the purchase price of these bonds if we are the suc-
cessful bidder, otherwise to be returned to us.
We hereby name as
paying agent or will so name the paying agent within three days after the receipt of bids as required
in the Official Notice of Bond Sale.
Respectfully submitted this 7th day of October, 1975.
•
FIRST NATIONAL CITY BANK
UNITED CALIFORNIA BANK
MERRILL- LYNCH PIERCE.,- FENNER
& SMITH, INC.
BEAR, STEARNS & COMPANY
(JOINT MANAGERS) -
FIRST ?ENNCO SECURITIES, INC.
STEP S
BY: s L__ ;SIANT..CASHIER
Accepted for and on behalf of Salt Lake City,Utah,this day of
1975.
Mayor
A•l-lAST:
City Recorder
Good faith check returned and receipt thereof acknowledged this day of _
1975.
BID FORM
$8,500,000
GENERAL OBLIGATION AIRPORT BONDS
SERIES 1975
SALT LAKE CITY, SALT LAKE COUNTY, UTAH
City Recorder
City and County Building
Room 301
Salt Lake City,Utah 84111
Dear Madam:
For$8,500,000 par value General Obligation Airport Bonds,Series 1975,of Salt Lake City,dated
November 1, 1975, denomination $5,000 and maturing serially on July 1,1978 through July 1,1997;
in the amounts shown herein,with interest payable July 1, 1976, and semi-annually thereafter on
the first days of January and July of each year at the rate or rates specified herein until said bonds
are paid,we will pay$.8.,504,501. 0lplus accrued interest to the date of delivery of said bonds to us.
The schedule of maturities,coupon rate or rates,total interest cost,the net interest cost,and the
effective rate of interest upon which this bid is based with interest computed from November 1,
1975 to the maturity date of the bonds are as follows:
Maturity Date Cumulative
(July 1) Amount Coupon Bond Years Bond Years
1978 $220,000 6.90 % 586.667 586.667
1979 230,000 .6..90 % 843.333 1,430.000
1980 250,000 6...90 % 1,166.667 2,596.667
1981 265,000 6...90 % 1,501.666, 4,098.333
1982 280,000 6...90 % 1,866.667 5,965.000
1983 300,000 6...90 % 2,300.000, 8,265.000
1984 320,000 6..90 % 2,773.333 11,038.333.
1985 340,000 6...90 % 3,286.667 14,325.000
1986 365,000 6...1.0 % 3,893.333 18,218.333,
1987 385,000 6 J 0 % 4,491.667 22,710.000,
1988 410,000 6 10 % 5,193.333 27,903.333.
1989 440,000 6 10 % 6,013,334 33,916.667
1990 470,000 6..J.0 % 6,893.333 40,810.000
1991 500,000 6.10 % 7,833.333 48,643.333
1992 530,000 6.3Q % 8,833.334 57,476.667
1993 565,000 6..30 % 9,981.666 67,458.333.
1994 600,000 6.4Q % 11,200.000 , 78,658.333
1995 640,000 6..40 % 12,586.667 91,245.000
1996 680,000 5.50 % 14,053.333 105,298.333
1997 710,000 5.50 % 15,383.334 120,681.667 ,
Total Interest to Maturity 7,408,551.67
4 5501.00
Less Premium
7-;404-;050-.67
Net Effective Interest Cost
Net Effective Interest Rate 6.1352
This bid is submitted in accordance with and subject to all provisions contained in the Official
Notice of Bond Sale of these bonds which by this reference is made a part hereof.
A cashier's check or certified good faith check in the sum of$170,000 drawn upon an incorpo-
rated bank or trust company and payable to the City Treasurer of Salt Lake City is enclosed to be
retained by said City Treasurer and applied on the purchase price of these bonds if we are the suc-
cessful bidder, otherwise to be returned to us. j
We hereby name 7 meat- Lik`� 2i41 <w /� G as
paying agent or will so name the paying agent within thre days after the eceipt of bids as required
in the Official Notice of Bond Sale.
Respectfully submitted this 7th day of October, 1975.
FIRST SECURITY BANK OF UTAH, N.A.) Joint
HARRIS TRUST..AND SAVINGS.-BARK )
.THE..CHAS.E..MANHATTAN..BANK,..N..A ) Managers
.&-.Associates-.(-l.ist.-attached)
Accepted for and on behalf of Salt Lake City,Utah, this day of
1975.
Mayor
A r1'b,ST:
City Recorder
Good faith check returned and receipt thereof acknowledged this day of
1975.
ACCOUNT MEMBERS
Harris Trust and Savings Bank )
The Chase Manhattan Bank, N.A. : Joint Managers
First Security Bank of Utah, N.A. )
BancNorthwest
European-American Bank & Trust Company
First and Merchants National Bank of Richmond, Va.
First National Bank of Oregon
Moseley, Hallgarten & Estabrook, Inc.
Republic National Bank of Dallas
Trust Company Bank
Van Kampen Wauterlek & Brown, Inc.
Bosworth, Sullivan & Company, Inc.
First National State Bank of New Jersey
United Missouri Bank of Kansas City, N.A.
William Blair & Company
Damn, Kalman & Quail, Inc.
Johnston, Lemon & Co. Inc.
Hutchinson, Shockey, Erley & Co.
Coughlin and Company Inc.
Wood Walker, Division F.R.S.
V. K. Sauerman & Associates Inc.
BID FORM
$8,500,000
GENERAL OBLIGATION AIRPORT BONDS
SERIES 1975
SALT LAKE CITY, SALT LAKE COUNTY, UTAH
City Recorder
City and County Building
Room 301
Salt Lake City,Utah 84111
Dear Madam:
For$8,500,000 par value General Obligation Airport Bonds,Series 1975,of Salt Lake City,dated
November 1, 1975, denomination $5,000 and maturing serially on July 1,1978 through July 1,1997;
in the amounts shown herein,with interest payable July 1, 1976, and semi-annually thereafter on
the first days of January and July of each year at the rate or rates specified herein until said bonds
are paid,we will paygg,5.04.46Gi.,3,0-,plus accrued interest to the date of delivery of said bonds to us.
The schedule of maturities,coupon rate or rates,total interest cost,the net interest cost,and the
effective rate of interest upon which this bid is based with interest computed from November 1,
1975 to the maturity date of the bonds are as follows:
Maturity Date Cumulative
(July 1) Amount Coupon Bond Years Bond Years
1978 $220,000 6.30 % 586.667 586.667
1979 230,000 ...L_90 % 843.333 1,430.000
1980 250,000 ...L-90 % 1,166.667 2,596.667
1981 265,000 6_90 % 1,501.666 4,098.333
1982 280,000 ....6-.90 % 1,866.667 5,965.000
1983 300,000 ....6..90 % 2,300.000 8,265.000
1984 320,000 .._.L_90 % 2,773.333 11,038.333.
1985 340,000 ....11..90 % 3,286.667 14,325.000
1986 365,000 ....6...10 % 3,893.333 18,218.333
1987 385,000 ....fi...10 % 4,491.667 22,710.000
1988 410,000 ...6._10 % 5,193.333 27,903.333
1989 440,000 .....6..10 % 6,013,334 33,916.667
1990 470,000 ....6._10 % 6,893.333 40,810.000
1991 500,000 .11.10 % 7,833.333 48,643.333
1992 530,000 ...6..30 % 8,833.334 57,476.667
1993 565,000 ..-6...30 % 9,981.666 67,458.333
1994 600,000 6...40 % 11,200.000 78,658.333
1995 640,000 ....6..40 % 12,586.667 91,245.000
1996 680,000 5.50 % 14,053.333 105,298.333
1997 710,000 ...5..50 % 15,383.334 120,681.667
Total Interest to Maturity 7,403,551.67
Less Premium 4,501.00
7;404;ttt:67
Net Effective Interest Cost
Net Effective Interest Rate 6.1352%
This bid is submitted in accordance with and subject to all provisions contained in the Official
Notice of Bond Sale of these bonds which by this reference is made a part hereof.
A cashier's check or certified good faith check in the sum of$170,000 drawn upon an incorpo-
rated bank or trust company ard payable to the City Treasurer of Salt Lake City is enclosed to be
retained by said City Treasurer and applied on the purchase price of these bonds if we are the suc-
cessful bidder, otherwise to be returned to us.
We hereby name ' %' �� (i/ Gf/l4 as
paying agent or will so name the paying agent w thin three day after the receipt of bids as required
in the Official Notice of Bond Sale.
Respectfully submitted this 7th day of October, 1975.
FIRST SECURITY BA.11( OF UTAll.,..iLA..)...hint
RUMS_TRUST.-A1iiO_SA1VIilGS...EAU )
TtlE_C}1ASE-l1AilUATIA;1._BUL, `;.A. ) Managers
Associates-(1-i-st-attached)
Accepted for and on behalf of Salt Lake City,Utah, this day of
1975.
Mayor
ATTN.ST:
City Recorder
Good faith check returned and receipt thereof acknowledged this day of
1975. \ ��
ACCOUNT MEMBERS
HarrislTrust and Savings Bank )
The Chase Manhattan Bank, N.A. : Joint Managers
First Security Bank of Utah, N.A. )
BancNorthwest
European-American Bank & Trust Company
First and Merchants National Bank of Richmond, Va.
First National Bank of Oregon
Moseley, Hallgarten & Estabrook, Inc.
Republic National Bank of Dallas
Trust Company Bank
Van Kampen Wauterlek & Brown, Inc.
Bosworth, Sullivan & Company. Inc.
First National State Bank of New Jersey
United Missouri Bank of Kansas City, N.A.
William Blair & Company
Damn, Kalman & Quail, Inc.
Johnston, Lemon & Co. Inc.
Hutchinson, Shockey. Erley & Co.
Coughlin and Company Inc.
Wood Walker. Division F.R.S.
V. K. Saue rmai & Associates Inc.
BID FORM
$8,500,000
GENERAL OBLIGATION AIRPORT BONDS
SERIES 1975
SALT LAKE CITY, SALT LAKE COUNTY, UTAH
City Recorder
City and County Building
Room 301
Salt Lake City,Utah 84111
Dear Madam:
For$8,500,000 par value General Obligation Airport Bonds,Series 1975,of Salt Lake City,dated
November 1, 1975, denomination $5,000 and maturing serially on July 1,1978 through July 1,1997;
in the amounts shown herein,with interest payable July 1, 1976, and semi-annually thereafter on
the first days of January and July of each year at the rate or rates specified herein until said bonds
are paid,we will pay$..1,.5:D.t1.4 plus accrued interest to the date of delivery of said bonds to us.
The schedule of maturities,coupon rate or rates,total interest cost,the net interest cost,and the
effective rate of interest upon which this bid is based with interest computed from November 1,
1975 to the maturity date of the bonds are as follows:
Maturity Date Cumulative
(July 1) Amount Coupon Bond Years Bond Years
1978 $220,000 7.0 0 % 586.667 586.667
1979 230,000 7.0 0 ofo 843.333 1,430.000
1980 250,000 7•00 % 1,166.667 2,596.667
1981 265,000 7•00 % 1,501.666 4,098.333
1982 280,000 7.0 0 % 1,866.667 5,965.000
1983 300,000 7.0 0 % 2,300.000 8,265.000
1984 320,000 7.00 % 2,773.333 11,038.333.
1985 340,000 7•00 % 3,286.667 14,325.000
1986 365,000 5.70 % 3,893.333 18,218.333
1987 385,000 5.70 % 4,491.667,/'1 - 22,710.000.
1988 410,000 5.70 % 5,193.333 27,903.333.
1989 440,000 6.0 0 % 6,013,334 33,916.667
1990 470,000 6•00 % 6,893.333 40,810.000
1991 500,000 6.00 % 7,833.333 48,643.333
1992 530,000 6 75 % 8,833.334 57,476.667
1993 565,000 .75 % 9,981.666 67,458.333 - - -
1994 600,000 6.25 % 11,200.000 78,658.333
1995 640,000 6.25 % 12,586.667 91,245.000
1996 680,000 6.2 5 ofo 14,053.333 105,298.333
1997 710,000 5.50 % 15,383.334 120,681.667
Total Interest to Maturity 7, 0 8,13 6.0 0
Less Premium 115..0 0
Net Effective Interest Cost 7,408,021.00
Net Effective Interest Rate f1 13.04
This bid is submitted in accordance with and subject to all provisions contained in the Official
Notice of Bond Sale of these bonds which by this reference is made a part hereof.
A cashier's check or certified good faith check in the sum of$170,000 drawn upon an incorpo-
rated bank or trust company and payable to the City Treasurer of Salt Lake City is enclosed to be
retained by said City Treasurer and applied on the purchase price of these bonds if we are the suc-
cessful bidder, otherwise to be returned to us.
We hereby name as
paying agent or will so name the paying agent within three days after the receipt of bids as required
in the Official Notice of Bond Sale.
Respectfully submitted this 7th day of October, 1975.
Ualker 'Bank & Trust Con-many, as Agent
.for..aanker.s...Trust._Conn.anv .and
-AGsogi_at-e-i
uz • iF� �...IS(ANT CASHIER
Accepted for and on behalf of Salt Lake City,Utah, this.........d y of ,
1975.
Mayor
ATTEST:
City Recorder
Good faith check returned and receipt thereof acknowledged this day of ,
1975.
1
BID FORM
$8,500,000
GENERAL OBLIGATION AIRPORT BONDS
SERIES 1975
SALT LAKE CITY, SALT LAKE COUNTY, UTAH
City Recorder
City and County Building
Room 301
Salt Lake City, Utah 84111
Dear Madam:
For$8,500,000 par value General Obligation Airport Bonds,Series 1975,of Salt Lake City,dated
November 1, 1975, denomination $5,000 and maturing serially on July 1,1978 through July 1,1997;
in the amounts shown herein,with interest payable July 1, 1976, and semi-annually thereafter on
the first days of January and July of each year at the rate or rates specified herein until said bonds
are paid,we will pay gg plus accrued interest to the date'of delivery of said bonds to us.
8,500,358.13'
The schedule of maturities,coupon rate or rates,total interest cost,the net interest cost,and the
effective rate of interest upon which this bid is based with interest computed from November 1,
1975 to the maturity date of the bonds are as follows:
Maturity Date Cumulative
(July 1) Amount Coupon Bond Years Bond Years
1978 $220,000 6,50 % 586.667 586.667
1979 230,000 6.50 % 843.333 1,430.000
1980 250,000 6.50 % 1,166.667 2,596.667
1981 265,000 6.50 % 1,501.666 4,098.333
1982 280,000 6.50 % 1,866.667 5,965.000
1983 300,000 6.50 % 2,300.000 8,265.000
1984 320,000 6.50 % 2,773.333 11,038.333.
1985 340,000 6.50 % 3,286.667 14,325.000 ,
1986 365,000 6.00 % 3,893.333 18,218.333,
1987 385,000 6.00 % 4,491.667 22,710.000,
1988 410,000 6.00 % 5,193.333 27,903.333,
1989 440,000 6'00 % 6,013,334 33,916.667
1990 470,000 6.00 % 6,893.333 40,810.000
1991 500,000 6,00 % 7,833.333 48,643.333
1992 530,000 6.40 % 8,833.334 57,476.667
1993 565,000 6.40 % 9,981.666 67,458.333.
1994 600,000 6.40 % 11,200.000 78,658.333
1995 640,000 6.50 % 12,586.667 91,245.000
1996 680,000 6,50 % 14,053.333 105,298.333
1997 710,000 5.00 % 15,383.334 120,681.667
Total Interest to Maturity 7,411,951.84
Less Premium 358.13
Net Effective Interest Cost 7,411,593.71
Net Effective Interest Rate 6.141441%
•
This bid is submitted in accordance with and subject to all provisions contained in the Official
Notice of Bond Sale of these bonds which by this reference is made a part hereof.
A cashier's check larCxemtikbaCkllaGlitifoitkixqhtklkin the sum of$170,000 drawn upon an incorpo-
rated bank or trust company and payable to the City Treasurer of Salt Lake City is enclosed to be
retained by said City Treasurer and applied on the purchase price of these bonds if we are the suc-
cessful bidder, otherwise to be returned to us.
We hereby name as
paying agent or will so name the paying agent within three days after the receipt of bids as required
in the Official Notice of Bond Sale.
Respectfully submitted this 7th day of October, 1975.
The First National Bank of Chicago
and Trust Company of Chicago
•
Account Managers
(sae...a_ttachad...1.ist)
Assist t Vice President
The First National Bank of Chicago
For the Managers
Accepted for and on behalf of Salt Lake City,Utah,this day of
1975.
Mayor
ATTEST:
City Recorder
Good faith check returned and receipt thereof acknowledged this day of
1975.
1
E-30
is,500,000
City of Salt Lake City, Utah
Airport Unlimited Tax Bonds
Selling on Tuesday, October 7, 1975
MEMBERS
1. The First National Bank of Chicago)]/T
2. Continental Illinois National Bank)Mgrs.
and Trust Company of Chicago
3. The Philadelphia. National Bank
4. Drexel Burnham & Co. , Inc.
5. Marine Midland Municipals Co.
6. A. G. Becker & Co. Municipal Securities Incorporated
7. The Bank of California, N.A.
8. Bank of Oklahoma, N.A.
9. Mercantile National Bank at Dallas
10. Spencer Trask & Co. , Incorporated •
11. Loewi & Co. , Incorporated
' 12. The Liberty National Bank & Trust Company,
Oklahoma City
13. Thomson & Mc Kinnon Auchincloss, Kohlmeyer, Inc.
14. The Contine:-+al Bank & Trust Company of
Salt Lake City
15. The Illinois Comp.,ny, Incorporated
16. Stern Brothers & Co
17. The Milwaukee Company
18. Tripp & Co. , Inc.
19. Shelby Cullom Davis & Co. •
20. Third National Bank in Nashvij,le
21. Traub and Company, Inc.
22. Weil, Roth & Irving, Inc.
23. American National Bank ` True Company of Chicago
Davidson-Vink-Sadler, Inc.
25. :'arker/Hunter Incorporated
BID FORM
$8,500,000
GENERAL OBLIGATION AIRPORT BONDS
SERIES 1975
SALT LAKE CITY, SALT LAKE COUNTY, UTAH
City Recorder
City and County Building
Room 301
Salt Lake City, Utah 84111
Dear Madam:
For$8,500,000 par value General Obligation Airport Bonds,Series 1975,of Salt Lake City,dated
November 1, 1975, denomination $5,000 and maturing serially on July 1,1978 through July 1,1997;
in the amounts shown herein,with interest payable July 1, 1976, and semi-annually thereafter on
the first days of JanuaW &l,Nly c ,each year at the rate or rates specified herein until said bonds
are paid,we will pay$ , lus accrued interest to the date of delivery of said bonds to us.
The schedule of maturities,coupon rate or rates,total interest cost,the net interest cost,and the
effective rate of interest upon which this bid is based with interest computed from November 1,
1975 to the maturity date of the bonds are as follows:
Maturity Date Cumulative
(July 1) Amount Coupon Bond Years Bond Years
1978 $220,000 7.00 % 586.667 586.667
1979 230,000 % 843.333 1,430.000
1980 250,000 "
% 1,166.667 2,596.667
o
1981 265,000 % 1,501.666 4,098.333
1982 280,000 " % 1,866.667 5,965.000
o
1983 300,000 % 2,300.000 8,265.000
o
1984 320,000
IV % 2,773.333 11,038.333.
1985 340,000 % 3,286.667 14,325.000
1986 365,000 " % 3,893.333 18,218.333;
1987 385,000 6.00 % 4,491.667 22,710.000'
1988 410,000fl" % 5,193.333 27,903.333.
1989 440,000 o % 6,013,334 33,916.667
1990 470,000 % 6,893.333 40,810.000
1991 500,000 6.20 % 7,833.333 48,643.333
1992 530,000 "
8,833.3347, 6.
1993 565,000 6.50 % 4
% 9,981.666 67,458.3337
.
1994 600,000 " % 11,200.000 78,658.333
1995 640,000 " 10
1996 680,000 5.50 14,,053.337. 91,245.000
% 3 105,298.333
1997 710,000 % 15,383.334 120,681.667
Total Interest to Maturity 7,478,074.94
Less Premium 2,022.70
Net Effective Interest Cost 7,476,052.24
Net Effective Interest Rate .......G...1.948....
This bid is submitted in accordance with and subject to all provisions contained in the Official
Notice of Bond Sale of these bonds which by this reference is made a part hereof.
A cashier's check or certified good faith check in the sum of$170,000 drawn upon an incorpo-
rated bank or trust company and payable to the City Treasurer of Salt Lake City is enclosed to be
retained by said City Treasurer and applied on the purchase price of these bonds if we are the suc-
cessful bidder, otherwise to be returned to us.
We hereby name as
paying agent or will so name the paying agent within three days after the receipt of bids as required
in the Official Notice of Bond Sale.
Respectfully submitted this 7th day of October, 1975.
Weeden & Co. Inc.
25 Broad Street
10.404 T1
by: George W....h&o.ntg.ame1V
Vice President
Accepted for and on behalf of Salt Lake City,Utah,this day of
1975.
Mayor
ATTEST:
City.Recorder
Good faith check returned and receipt thereof acknowledged this day of
1975.
BID FORM
$8,500,000
GENERAL OBLIGATION AIRPORT BONDS
SERIES 1975
SALT LAKE CITY, SALT LAKE COUNTY, UTAH
City Recorder
City and County Building
Room 301
Salt Lake City, Utah 84111
Dear Madam:
For$8,500,000 par value General Obligation Airport Bonds,Series 1975,of Salt Lake City,dated
November 1, 1975, denomination $5,000 and maturing serially on July 1,1978 through July 1,1997;
in the amounts shown herein,with interest payable July 1, 1976, and semi-annually thereafter on
the first days of January arid q1 of each year at the rate or rates specified herein until said bonds
are paid,we will pay$ ,5 J ,plus accrued interest to the date of delivery of said bonds to us.
The schedule of maturities,coupon rate or rates,total interest cost,the net interest cost,and the
effective rate of interest upon which this bid is based with interest computed from November 1,
1975 to the maturity date of the bonds are as follows:
Maturity Date Cumulative
(July 1) Amount Coupon Bond Years Bond Years
1978 $220,000 6.._010 % 586.667 586.667
1979 230,000 6.00 % 843.333 1,430.000
1980 250,000 6.00 % 1,166.667 2,596.667
1981 265,000 5 00 % 1,501.666 4,098.333
1982 280,000 6.00 % 1,866.667 5,965.000
1983 300,000 6.00 % 2,300.000 8,265.000
1984 320,000 6.00 % 2,773.333 11,038.333.
1985 340,000 6.00 % 3,286.667 14,325.000
1986 365,000 5.75 % 3,893.333 18,218.333,
1987 385,000 5.75 % 4,491.667 22,710.000,
1988 410,000 5.75 % 5,193.333 27,903.333
1989 440,000 5.75 % 6,013,334 33,916.667
1990 470,000 6.09 % 6,893.333 40,810.000
1991 500,000 6.20 % 7,833.333 48,643.333
1992 530,000 6.20 % 8,833.334 57,476.667
1993 565,000 5.2
% 9,981.666 67,458.333
1994 600,000 6.40 % 11,200.000 78,658.333
1995 640,000 6.59 % 12,586.667 91,245.000
1996 680,000 6.50 % 14,053.333 105,298.333
1997 710,000 6.59 % 15,383.334 120,681.667
Total Interest to Maturity $7,599,134.13
Less Premium none
Net Effective Interest Cost 7,509,134.18
Net Effective Interest Rate 6 2L4 ..
This bid is submitted in accordance with and subject to all provisions contained in the Official
Notice of Bond Sale of these bonds which by this reference is made a part hereof.
A cashier's check or certified good faith check in the sum of$170,000 drawn upon an incorpo-
rated bank or trust company and payable to the City Treasurer of Salt Lake City is enclosed to be
retained by said City Treasurer and applied on the purchase price of these bonds if we are the suc-
cessful bidder, otherwise to be returned to us.
We hereby name as
paying agent or will so name the paying agent within three days after the receipt of bids as required
in the Official Notice of Bond Sale.
Respectfully submitted this 7th day of October, 1975.
Boettcher and Company
T Thite, TTol d n,n 1 rnrnar17
and associates
Accepted for and on behalf of Salt Lake City,Utah,this day of
1975.
Mayor
ATTEST:
City Recorder
Good faith check returned and receipt thereof acknowledged this day of
1975.
BID FORM
$8,500,000
GENERAL OBLIGATION AIRPORT BONDS
SERIES 1975
SALT LAKE CITY, SALT LAKE COUNTY, UTAH
City Recorder
City and County Building
Room 301
Salt Lake City, Utah 84111
Dear Madam:
For$8,500,000 par value General Obligation Airport Bonds,Series 1975,of Salt Lake City,dated
November 1, 1975, denomination $5,000 and maturing serially on July 1,1978 through July 1,1997;
in the amounts shown herein,with interest payable July 1, 1976, and semi-annually thereafter on
the first days of P y u$axy- Jpl-v,1,pl sth accr edear anterest to the date t the rate or rates of delivery of said herein il said bondstonds
us.
are paid,we will a �,- .1 '11�.
The schedule of maturities,coupon rate or rates,total interest cost,the net interest cost,and the
effective rate of interest upon which this bid is based with interest computed from November 1,
1975 to the maturity date of the bonds are as follows:
Maturity Date Cumulative
(July 1) Amount Coupon Bond Years Bond Years
1978 $220,000 6.00 % 586.667 586.667
1979 230,000 6.00 % 843.333 1,430.000
1980 250,000 6.00 % 1,166.667 2,596.667
1981 265,000 6.00 % 1,501.666 4,098.333
1982 280,000 6.00 % 1,866.667 5,965.000
1983 300,000 6.00 % 2,300.000 8,265.000
1984 320,000 6.99 % 2,773.333 11,038.333.
1985 340,000 6.00 % 3,286.667 14,325.000
1986 365,000 5.75 % 3,893.333 18,218.333.
1987 385,000 5 75 % 4,491.667 22,710.000,
1988 410,000 5.75 % 5,193.333 27,903.333
1989 440,000 5•75 % 6,013,334 33,916.667
1990 470,000 6•11 o 6,893.333 40,810.000
1991 500,000 0 5 % 7,833.333 48,643.333
,_
1992 530,000 % 8,833.334 57,476.667
1993 565,000 0. -i % 9,981.666 67,458.333.
1994 600,000 6.1.0 % 11,200.000 78,658.333
1995 640,000 6.50 % 12,586.667 91,245.000
1996 680,000 6.59 % 14,053.333 105,298.333
1997 710,000 6.50 % 15,383.334 120,681.667
Total Interest to Maturity 72500t134.13
,
Less Premium- , none
Net Effective Interest Cost 7,5 0 3,13 4.1:,
Net Effective Interest Rate 6.214-7,
This bid is submitted in accordance with and subject to all provisions contained in the Official
Notice of Bond Sale of these bonds which by this reference is made a part hereof.
A cashier's check or certified good faith check in the sum of$170,000 drawn upon an incorpo-
rated bank or trust company and payable to the City Treasurer of Salt Lake City is enclosed to be
retained by said City Treasurer and applied on the purchase price of these bonds if we are the suc-
cessful bidder, otherwise to be returned to us.
We hereby name as
paying agent or will so name the paying agent within three days after the receipt of bids as required
in the Official Notice of Bond Sale.
Respectfully submitted this 7th day of October, 1975.
Boettcher and Company
Trite, ?leld and Company
and associates
Accepted for and on behalf of Salt Lake City,Utah, this day of
1975.
Mayor
ATTEST:
City Recorder
Good faith check returned and receipt thereof acknowledged this day of
1975.
BID FORM
$8,500,000
GENERAL OBLIGATION AIRPORT BONDS
SERIES 1975
SALT LAKE CITY, SALT LAKE COUNTY, UTAH
City Recorder
City and County Building
Room 301
Salt Lake City,Utah 84111
Dear Madam:
For$8,500,000 par value General Obligation Airport Bonds,Series 1975,of Salt Lake City,dated
November 1, 1975, denomination $5,000 and maturing serially on July 1,1978 through July 1,1997;
in the amounts shown herein,with interest payable July 1, 1976, and semi-annually thereafter on
the first days of January and July o each year at the rate or rates specified herein until said bonds
are paid,we will pay$8,50 4,871.,( lus accrued interest to the date of delivery of said bonds to us.
The schedule of maturities,coupon rate or rates,total interest cost,the net interest cost,and the
effective rate of interest upon which this bid is based with interest computed from November 1,
1975 to the maturity date of the bonds are as follows:
Maturity Date Cumulative
(July 1) Amount Coupon Bond Years Bond Years
1978 $220,000 7.50 % 586.667 586.667
1979 230,000 7.50 % 843.333 1,430.000
1980 250,000 7.50 % 1,166.667 2,596.667
1981 265,000 7. 50 % 1,501.666 4,098.333
1982 280,000 7.50 % 1,866.667 5,965.000
1983 300,000 7.50 % 2,300.000 8,265.000
1984 320,000 6.00 i 2,773.333 11,038.333.
1985 340,000 6.00 % 3,286.667 14,325.000
1986 365,000 6.00 % 3,893.333 18,218.333.
1987 385,000 6.00 % 4,491.667 22,710.000
1988 410,000 6.00 % 5,193.333 27,903.333
1989 440,000 6.00 % 6,013,334 33,916.667
1990 470,000 6. 10 % 6,893.333 40,810.000
1991 500,000 6.25 % 7,833.333 48,643.333
1992 530,000 6.25 % 8,833.334 57,476.667
1993 565,000 6.25 % 9,981.666 67,458.333
1994 600,000 6.25 % 11,200.000 78,658.333
1995 640,000 6.2 5 % 12,586.667 91,245.000
1996 680,000 6.2 5 % 14,053.333 105,298.333
1997 710,000 6.00 % 15,383.334 120,681.667
Total Interest to Maturity 7, 532,989.00
Less Premium 4,871.00
Net Effective Interest Cost 7,52,8.,.1.1.8.00
Net Effective Interest Rate 6.2380%
This bid is submitted in accordance with and subject to all provisions contained in the Official
Notice of Bond Sale of these bonds which by this reference is made a part hereof.
A cashier's check or certified good faith check in the sum of$170,000 drawn upon an incorpo-
rated bank or trust company ar-d payable to the City Treasurer of Salt Lake City is enclosed to be
retained by said City Treasurer and applied on the purchase price of these bonds if we are the suc-
cessful bidder, otherwise to be returned to us.
We hereby name Morgan Guaranty Trust Company as
paying agent or will so name the paying agent within three days after the receipt of bids as required
in the Official Notice of Bond Sale.
Respectfully submitted this 7th day of October, 1975.
Morgan G aranty rust Company
By: Zion ' st 1,a1 Blank
V'ce President
Accepted for and on behalf of Salt Lake City,Utah,this day of
1975.
Mayor
ATTEST:
City Recorder
Good faith check returned and receipt thereof acknowledged this day of
1975. ()
BID FORM
$8,500,000
GENERAL OBLIGATION AIRPORT BONDS
SERIES 1975
SALT LAKE CITY, SALT LAKE COUNTY, UTAH
City Recorder
City and County Building
Room 301
Salt Lake City, Utah 84111
Dear Madam:
For$8,500,000 par value General Obligation Airport Bonds,Series 1975,of Salt Lake City,dated
November 1, 1975, denomination $5,000 and maturing serially on July 1,1978 through July 1,1997;
in the amounts shown herein,with interest payable July 1, 1976, and semi-annually thereafter on
the first days of January and July of each year at the rate or rates specified herein until said bonds
are paid,we will pay$o,504,44i.9S lus accrued interest to the date of delivery of said bonds to us.
The schedule of maturities,coupon rate or rates,total interest cost,the net interest cost,and the
effective rate of interest upon which this bid is based with interest computed from November 1,
1975 to the maturity date of the bonds are as follows:
Maturity Date Cumulative
(July 1) Amount Coupon Bond Years Bond Years
1978 $220,000 6.80 % 586.667 586.667
1979 230,000 6.80 % 843.333 1,430.000
1980 250,000 6.80 % 1,166.667 2,596.667
1981 265,000 6.30 % 1,501.666 4,098.333
1982 280,000 6.80 % 1,866.667 5,965.000
1983 300,000 6.00 % 2,300.000 8,265.000
1984 320,000 6.00 % 2,773.333 11,038.333,
1985 340,000 6.00 % 3,286.667 14,325.000
1986 365,000 6.00 % 3,893.333 18,218.333
1987 385,000 6.00 % 4,491.667 22,710.000,
1988 410,000 6.00 % 5,193.333 27,903.333.
1989 440,000 6.00 % 6,013,334 33,916.667
1990 470,000 6.30 % 6,893.333 40,810.000
1991 500,000 6.30 % 7,833.333 48,643.333
1992 530,000 6.30 % 8,833.334 57,476.667
1993 565,000 6.50 % 9,981.666 67,458.333
1994 600,000 6.50 % 11,200.000 78,658.333
1995 640,000 6.50 % 12,586.667 91,245.000
1996 680,000 6.50 % 14,053.333 105,298.333
1997 710,000 5.50 % 15,383.334 120,681.667
Total Interest to Maturity 7,539,891.67
Less Premium 4,443.05
Net Effective Interest Cost 7,535,448.62
Net Effective Interest Rate 6.2440%
This bid is submitted in accordance with and subject to all provisions contained in the Official
Notice of Bond Sale of these bonds which by this reference is made a part hereof.
A cashier's check or certified good faith check in the sum of$170,000 drawn upon an incorpo-
rated bank or trust company and payable to the City Treasurer of Salt Lake City is enclosed to be
retained by said City Treasurer and applied on the purchase price of these bonds if we are the suc-
cessful bidder, otherwise to be returned to us.
We hereby name as
paying agent or will so name the paying agent within three days after the receipt of bids as required
in the Official Notice of Bond Sale.
Respectfully submitted this 7th day of October, 1975.
Bank of America N.T. & S.A.
Dean Witter & Co. Incorporated
Joint Managers
And i}sso ate
J P. Helm, Vice President
Accepted for and on behalf of Salt Lake City,Utah,this day of
1975.
Mayor
A'1'1'LST:
City Recorder
Good faith check returned and receipt thereof acknowledged this day of
1975.
BID FORM
$8,500,000
GENERAL OBLIGATION AIRPORT BONDS
SERIES 1975
SALT LAKE CITY, SALT LAKE COUNTY, UTAH
City Recorder
City and County Building
Room 301
Salt Lake City,Utah 84111
Dear Madam:
For$8,500,000 par value General Obligation Airport Bonds,Series 1975,of Salt Lake City,dated
November 1, 1975, denomination $5,000 and maturing serially on July 1,1978 through July 1,1997;
in the amounts shown herein,with interest payable July 1, 1976, and semi-annually thereafter on
the first days of Janua yjq,each year at the rate or rates specified herein until said bonds
are paid,we will pay$ `;1-Jlus accrued interest to the date of delivery of said bonds to us.
SjSC(;6 e Ed
The schedule of maturities,coupon rate or rates,total interest cost,the net interest cost,and the
effective rate of interest upon which this bid is based with interest computed from November 1,
1975 to the maturity date of the bonds are as follows:
Maturity Date Cumulative
• (July 1) Amount Coupon Bond Years Bond Years
1978 $220,000 7-'G % 586.667 586.667
1979 230,000 ( a % 843.333 1,430.000
1980 250,000 ' % 1,166.667 2,596.667
1981 265,000 j II % 1,501.666 4,098.333
1982 280,000 a % 1,866.667 5,965.000
1983 300,000 a % 2,300.000 8,265.000
1984 320,000 ,,50 " % 2,773.333 11,038.333
1985 340,000 (G-G % 3,286.667 14,325.000
1986 365,000 ' % 3,893.333 18,218.333
1987 385,000 6.00 aJoIT 4,491.667 22,710.000
1988 410,000 % 5,193.333 27,903.333
1989 440,000II % 6,013,334 33,916.667
1990 470,000 % 6,893.333 40,810.000
.;I:1991 500,000 _ 6.20 % 7,833.333 48,643.333
1992 530,000 b/ay % 8,833.334 57,476.667
1993 565,000 (SO 6.50 %it 9,981.666 67,458.333
1994 600,000 S a % 11,200.000 78,658.333
1995 640,000 % 12,586.667 91,245.000
1996 680,000 S,i50 % 14,053.333 105,298.333
1997 710,000 5.. % 15,383.334 120,681.667
Total Interest to Maturity a i '.T "' ',,5/, 375'.o0
Less Premium 21.677:119 _ ^�
Net Effective Interest Cost 7�24 7, V/s7s 00
Net Effective Interest Rate tom. V d r
This bid is submitted in accordance with and subject to all provisions contained in the Official
Notice of Bond Sale of these bonds which by this reference is made a part hereof.
A cashier's check or certified good faith check in the sum of$170,000 drawn upon an incorpo-
rated bank or trust company and payable to the City Treasurer of Salt Lake City is enclosed to be
retained by said City Treasurer and applied on the purchase price of these bonds if we are the suc-
cessful bidder, otherwise to be returned to us.
We hereby name as
paying agent or will so name the paying agent within three days after the receipt of bids as required
in the Official Notice of Bond Sale.
Respectfully submitted this 7th day of October, 1975.
HALSEY,. STUART...&..CD..-..-Inc.
Affiliate of Bache & Co. Incorporated
And..Associates
BY j r •V . Gd
yti441
Accepted for and on behalf of Salt Lake City,Utah, this day of
1975.
Mayor
ATTEST:
City Recorder
Good faith check returned and receipt thereof acknowledged this day of
1975.
BID FORM
$8,500,000
GENERAL OBLIGATION AIRPORT BONDS
SERIES 1975
SALT LAKE CITY, SALT LAKE COUNTY, UTAH
City Recorder
City and County Building
Room 301
Salt Lake City, Utah 84111
Dear Madam:
For$8,500,000 par value General Obligation Airport Bonds,Series 1975,of Salt Lake City,dated
November 1, 1975, denomination $5,000 and maturing serially on July 1,1978 through July 1,1997;
in the amounts shown herein,with interest payable July 1, 1976, and semi-annually thereafter on
the first days of January and July of each year at the rate or rates specified herein until said bonds
are paid,we will pay$8,505,6u64.(Nils accrued interest to the date of delivery of said bonds to us.
The schedule of maturities,coupon rate or rates,total interest cost,the net interest cost,and the
effective rate of interest upon which this bid is based with interest computed from November 1,
1975 to the maturity date of the bonds are as follows:
Maturity Date Cumulative
(July 1) Amount Coupon Bond Years Bond Years
1978 $220,000 6.00 % 586.667 586.667
1979 230,000 6.00 % 843.333 1,430.000
1980 250,000 6.00 °Jo 1,166.667 2,596.667
1981 265,000 6.00 % 1,501.666 4,098.333
1982 280,000 6.00 % 1,866.667 5,965.000
1983 300,000 6.00 % 2,300.000 8,265.000
1984 320,000 6.00 % 2,773.333 11,038.333.
1985 340,000 6 00 % 3,286.667 14,325.000
1986 365,000 6.00 % 3,893.333 18,218.333
1987 385,000 6.00 % 4,491.667 22,710.000,
1988 410,000 6.00 % 5,193.333 27,903.333.
1989 440,000 6.00 % 6,013,334 33,916.667
1990 470,000 6.20 % 6,893.333 40,810.000
q 1991 500,000 6.20 % 7,833.333 48,643.333
1992 530,000 6.40 % 8,833.334 57,476.667
1993 565,000 6.40 % 9,981.666 67,458.333
1994 600,000 6.50 % 11,200.000 78,658.333
1995 640,000 6...5.0 % 12,586.667 91,245.000
1996 680,000 6.50 % 14,053.333 105,298.333
1997 710,000 6. 50 % 15,383.334 120,681.667
Total Interest to Maturity 7,611,729.77
Less Premium 5,664.00
Net Effective Interest Cost 7,606,065.77
Net Effective Interest Rate 6.30258
This bid is submitted in accordance with and subject to all provisions contained in the Official
Notice of Bond Sale of these bonds which by this reference is made a part hereof.
A cashier's check or certified good faith check in the sum of$170,000 drawn upon an incorpo-
rated bank or trust company and payable to the City Treasurer of Salt Lake City is enclosed to be
retained by said City Treasurer and applied on the purchase price of these bonds if we are the suc-
cessful bidder, otherwise to be returned to us.
We hereby name to be named as
paying agent or will so name the paying agent within three days after the receipt of bids as required
in the Official Notice of Bond Sale.
Respectfully submitted this 7th day of October, 1975.
THE NORTERN TRUST COMPANY
AND ASSOCIATES (See attached list.)
1
✓_/ /%, -
^TARREN N. NNW BAN
Second Vice President
Accepted for and on behalf of Salt Lake City,Utah,this day of
1975.
Mayor
A PI'EST:
City Recorder
Good faith check returned and receipt thereof acknowledged this day of ,
1975.
iL.,___C
THE NORTHERN TRUST COMPANY ) JOINT
FIRST NATIONAL BANK IN DALLAS ) MANAGERS
THE CONNECTICUT BANK & TRUST CO.
EHRLICH-BOBER & CO., INC.
FIRST NATIONAL BANK AND TRUST
COMPANY OF OKLAHOMA CITY
SHEARSON HAYDEN STONE, INC.
MERCANTILE TRUST COMPANY N.A.
SEATTLE-FIRST NATIONAL BANK
BOETTCHER AND COMPANY
BROWN BROTHERS HARRIMAN & CO.
COMMERCE BANK OF KANSAS CITY
FIRST NATIONAL BANK IN ST. LOUIS
THE FORT WORTH NATIONAL BANK
UNITED STATES NATIONAL BANK OF OREGON
ZIONS FIRST NATIONAL BANK
GEORGE K. BAUM & CO., INC.
BECKER & COWNIE, INC.
BERGHOFF, STERLING & MARSH, INC.
DEE & NAAB SECURITIES CO.
FIRST MID-AMERICA, INC.
INVESTMENT SECURITIES ASSOCIATES INCORPORATED
KIRCHNER, MOORE AND COMPANY
MC LINEY & CO.
PERRY, ADAMS & LEWIS, INC.
ROWLES, WINSTON & CO.
(A Division of Cowen Co.)
STIFEL, NICOLAUS & CO., INC.
BID FORM
$8,500,000
GENERAL OBLIGATION AIRPORT BONDS
SERIES 1975
SALT LAKE CITY, SALT LAKE COUNTY, UTAH
City Recorder
City and County Building
Room 301
Salt Lake City,Utah 84111
Dear Madam:
For$8,500,000 par value General Obligation Airport Bonds,Series 1975,of Salt Lake City,dated
November 1, 1975, denomination $5,000 and maturing serially on July 1,1978 through July 1,1997;
in the amounts shown herein,with interest payable July 1, 1976, and semi-annually thereafter on
the first days of January and July of each year at the rate or rates specified herein until said bonds
are paid,we will pay$ 500.20 ,plus accrued interest to the date of delivery of said bonds to us.
The schedule of maturities,coupon rate or rates,total interest cost,the net interest cost,and the
effective rate of interest upon which this bid is based with interest computed from November 1,
1975 to the maturity date of the bonds are as follows:
Maturity Date Cumulative
(July 1) Amount Coupon Bond Years Bond Years
1978 $220,000 6_7.5 % 586.667 586.667
1979 230,000 6.75 % 843.333 1,430.000
1980 250,000 .6..75 % 1,166.667 2,596.667
1981 265,000 .6..75 % 1,501.666 4,098.333
1982 280,000 6.._75 % 1,866.667 5,965.000
1983 300,000 6.-00 % 2,300.000 8,265.000
1984 320,000 .6..00 % 2,773.333 11,038.333.
1985 340,000 .6.00 % 3,286.667 14,325.000
1986 365,000 6..00 % 3,893.333 18,218.333:
1987 385,000 6..00 % 4,491.667 22,710.000
1988 410,000 6._00 % 5,193.333 27,903.333,
1989 440,000 6.00 % 6,013,334 33,916.667
1990 470,000 6..25 % 6,893.333 40,810.000
1991 500,000 6..25 % 7,833.333 48,643.333
1992 530,000 6,25 % 8,833.334 57,476.667
1993 565,000 6.25 % 9,981.666 67,458.333
1994 600,000 6.50 % 11,200.000 78,658.333
1995 640,000 6..50 % 12,586.667 91,245.000
1996 680,000 6.70 % 14,053.333 105,298.333
1997 710,000 6.75 % 15,383.334 120,681.667
Total Interest to Maturity 7,702,173.33
Less Premium 300.20
Net Effective Interest Cost 7,701,873.13
Net Effective Interest Rate 6.3819
This bid is submitted in accordance with and subject to all provisions contained in the Official
Notice of Bond Sale of these bonds which by this reference is made a part hereof.
A cashier's check or certified good faith check in the sum of$170,000 drawn upon an incorpo-
rated bank or trust company and payable to the City Treasurer of Salt Lake City is enclosed to be
retained by said City Treasurer and applied on the purchase price of these bonds if we are the suc-
cessful bidder, otherwise to be returned to us.
We hereby name VALLEY BANK £ TRUST COMPA:JV, Salt Lake City, Utah as
paying agent or will so name the paying agent within three days after the receipt of bids as required
in the Official Notice of Bond Sale.
Respectfully submitted this 7th day of October, 1975.
CROCKER NATIONAL BANK
Daniel P. Cochrane
.Ass.t.....viez..Pre aident
Accepted for and on behalf of Salt Lake City,Utah, this day of
1975.
Mayor
ATTEST:
City Recorder
Good faith check returned and receipt thereof acknowledged this day of
1975.
i
1
1
4
Ootokor 7, 107:
lir. L. Takto r
City xrsastarsr
VI City oaf Casty lielletat
salt Loki City, Utah
Deft 4sir.
Atasanst to the 'Kstise of *awl Sal* , paiolitasi ha no Nei flavor is Mew York City,
Nor York to fataxaskor 1f. 1973,sidling for fits for than yaedras of*3,Sc"e,4t00 tab
Lake City, Utak, Gaairsi Nation`airport Baiode, folios 1973,Lh.fa 1 oriso lib
avoro atookaa its soro ar ttamreto.
NAME O'Bih'r;:. .NN,i 1 ' l2CET COST zap
Nhaat Xattomal City lamak 111,4103,3416.14 Now
WWI Calillemato Bank (WA 3.1346%)
illoadll look,31MPIf,renklet aati Smith
lase,31st#nss ant Compso r arat As000lateeo
Maeda Trost nil liedop Soak
411
TM #f ittMS Bal k,LA. M4.G3t 9t,3i2.00
�li>~rR i.13S2%)�)
flout Sooitity dank at Htda,34.A,
OM ASSIIMARION
SOW,*Trod Clmplq t7.IM.821.Io MIMI
Walker Sok oaf Taut Conway y ORS 4.135$)
sal.4111111111400
tint Ultima Mk at Cep n.411,593.71 135a.13
Castimitel Chu&Mistio A Soak
SlabligillM Natind Bark and Aasosiat sa
"alio ad ,howertated 07,474,052.24 $16,101.7$
OM Adosilsw (NCR 4.190%)
c iRvp,,� I 913` 1
Joseph L. i'zkioi A3a Crtob.r 7. ISO
City TaS1 *Z 6?
NAM or vioaPi rimer non; r COOT vpioitaim
Boettcher mad Ce agley 47.800.]A4.14 Deaf
Atte. Wald surd Co npamay azd Associates iyiEr CMS)
Noyes Gea:mtty Taunt Conroy $7.32i,11L.00 $4,1171.0$
Uses YYrst U tima Nods.ira!Aaroeistca Met i.22S)
311ek of Mink*lit"and fA 07,25.40.0 94.443.08
rise Otter sod Ceaopey, laaaarpoeated osiai 4.24d0)
eel Associates
Hades.Stuart and Caarpsty, bemo pDzatai 07.$41,3711.10 Name
ladle MB Ceay*y,MMrimsattad gum 4.23M .)
The Nortiteee Sao*Consiteny i7,414,0i3.77 i4.ii1.00
Met Nodded Soak le DO** 1101 4.l0230i)
Aaawalotea
Omits,Natioeai Basilicata to Auedat•. $7,701,173.T3 4304.28
O R 4,3111 )
The City Commitsioa tatepted t s#yid of Eta*Natlonel City Nam et ta.w Usk City,
Now York,at a sat 3atoatet cost of$17.441,350.id¢7UR 4.3344%)witb ar frimallau
The City C passed uyi i NO.ii aid Tt73.esationft the*Ws of
ii,tM,MQ.eO trialerldaltiotiesAdmit 1aado,Soda irn,sail Lariat city, M,
a R tie psWastko ed nabsgMose*ram se be Woo ilisselor,ib the*mot ppm* •
id ids thereto. .
Yews tam,
City fceaasdre
CC,
Moe samsMee
Comissfessv arereae
Caursoldivor MMeaesmn
Mtwras
Ossingseilior aepeeea
Ailitie
Ws,Master
limo 4sd&tr Co mpsy
MMsiamr swam
NOM
T k
NOTICE OF BONDS TO BE ISSUED
NOTICE IS HEREBY GIVEN pursuant to the revisions of Section 11.1421,
Utah Cede Annotated,1953,as amended,that on October],1975,the Board of
ters of Salt Lake City,Salt Lake County,Utah,accepted the bid of
First e niNational City Bank,United California Bank,Merrill Lynch,Pierce,
Fenner A Smith Inc.,Bear,Stearns A Company(Mint manager),First Ponnco
Securities Inc.,Stevens Inc.,for the purchase of 00 General Obligation
Airport Bonds,Series 1975,of said city,dated November 1,1975,at the price of
0,500,000 plus a premium of S None.Said purchaser made a good faith deposit
.of$l]0,000 In connection with Its bid.
Said General Obligation Airport Bonds,Series 1975,pursuant to a resolution
of the Board of Commissioners of Salt Lake City duly adopted on October],
1975,are to be issued 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 imrovements and extensions,together with the acquisition of all land
necessary therefor,and the acquisition of all ennanns ant facilities necessary
lent in connection with such Unpro meac and extensions,or said
itvtand bear Interest and mature on July 1 r each of the years and In the
amounts as follows:
Bend rest
Numbers Amour lnRala Year
l toil S220,000 6.25% 1978
45 to 90 230,000 6.50% 1979
91 to 140 250,000 6.5096 1980
141 to 193 265A00 6.50% 1981
194 to 449 200,000 6.50% 1982
250 to 309 300Am 6.50% 1913
310.373 320,000 6.5096 1.84
376 to NI 310,000 6.50% 19115
.00 to 514 365,000 6.50% 1986
515 to 591 385,3D A.50% 1907
592 to 673 410,000 6.ta%
9gg
662 to]61 4470 000 6.10% 1999
• ]62o955 6.10% 199
95615955 500,000 6.25% 1991
956.1061 530,000 6.25% 1993
11162 to11)6 600.000 6.25% 1993
1295 to 1422 660,000 6.25% 1995
6.20% 199
I59 o 1500 10,000 6.60% 1996
I55 to 7
9 1]00 10.000 5.00% 1997
A the Beird of
Commisosipaears of Salresolution
Lake City autthhorizing on gtthe iissssuancetober 7. Sand retina Me
1975 of
file n the roffice St the City R�nid of said city,in Airport Bonds,
20)City
and County Building,Salt Lake City,Utah,where It may be examined during
ro'clock P.M.lar Iness hours of Said resolution shalClty beRs�a�or Impecton or a period of
at least thirty(30)days from and alter date of the wlblkatlot of this notice.
NOTICE IS FURTHER GIVEN that pursuant to law fora period of thirty
Interest shall have ather rghtato ocontest itieic rlaaalityf offs Meld described
n
resolution of the Board of Commissioners of Salt Lake City,Utah,adopted on
October],1975,or the S8,500,000 General Obligation Airport Bonds,Series 1975,
of said
cpayment of such authorized thereby,
and that after suc or any h tiImei.ioweahemade�have a the annyrrauseof
action to contest the regularity,formality or legality thereof for any cause
whatsoever.
DATED this Hh day of October,1975.
MILDRED V.HIGHAM
city Recorder,
(SEAL) Salt Lake Clty,Utah
For a period of thirty Mt days after such publkrlon,any person In interest
shall have the right to contest the legality of thls resolution or of the bads
hereby authorized or any provisions made or the security and payment of such
betas.Asir such time,no one shall have any cauee of action to contest the
rsauorih.formality legality of this resolution or the bads herein
anlhriad for any cause whatever.
Section 11.That all resolutions or parts thereof in Cotllt t herewith be and
the same are,to the extent of such conflict,hereby repeals,and alter said
bonds are Issued,this resolution shall be and remain irrepealaBfa until said
bonds and and the interest
n erestthhed.n shall have been fully veld,satisfied and
Section 12.That this resolution shall become effective Immediately upon its
adoption.
PASSED AND APPROVED by the Board of Commissioners of Salt Lake
City,Salt Lake County,Utah,this 7th day of October,1975.
CONRAD HARRISON
Mayr
Attest:
MILDRED V.NIGHAM
City Recorder (D33)
Published—October if,1975.
- 8,500,000
SALT LAKE CITY
UTAH
General Obligation Airport Bonds, Series 1975
SEALED BIDS for the purchase of$8,500,000 General Obligation Airport
Bonds, Series 1975, of Salt Lake City, Salt Lake County, Utah,will be re-
ceived up to 10:30 o'clock A.M.,M.D.T.,on
OCTOBER 7, 1975,
at the regular meeting place of the Board of Commissioners of said city in
Room 301 in the City and County Building,in Salt Lake City,Utah.
Copies of the OFFICIAL NOTICE OF BOND SALE,the OFFICIAL PRO-
SPECTUS and other related information with respect to the bonds, being
offered subject to the approval as to legality of Chapman and Cutler, of
Chicago,Illinois,may be obtained from Murray Bywater,Manager,Salt Lake
International Airport,Salt Lake City,Utah,or Burrows,Smith and Company,
Suite 1003,Kearns Building,Salt Lake City,Utah 84101,the Financial Con-
sultant to the City.
Dated this 26th day of August,1975.
MILDRED V. HIGHAM,
City Recorder,
Salt Lake City,Utah.
• City and County of New York,
t 4_ SHEILA McGin, being duly sworn, says that
she is the Advertising Clerk of THE BOND BUYER, a
daily and weekly newspaper printed and published at
One State Street Plaza, in the City of New York,
County of New York, State of New York; and the
Copy notice, of which the annexed is a printed copy, was
regularly published in said THE DAILY BOND BUYER on
SEP 151975
of
Advertisement • � r, G.
Advertising Clerk
Subscribed and sworn to before me this
/ S day of -r--e 1975'
4"-^A.
ANN T.PERRONE
Notary Public, State of New York
No.24-8331675
Qualified in Kings County
Commission expires March 30, 1976
RESULTS OF SALE . .
BURROWS, SMITH & COMPANY 1003 Kearns Building Salt Lake City, t't ,
,� / 328-1511 /
Issue: $f 00,000 \•r!�Ct /4`:F t.7rI Y L.. O, itk+'o,rT- Sale Date /6/ 7� Covered by:
Syndicate Syndicate Syndicate Syndicate Syndicate Syndicate
fi' T 9/47/ l_n/7Y Flies $' ao, '7/ TPN/cE-R5 !Ross- /'£r/6 L 6N/eA6O (1.1EF5)'E/111 co �-ZettCNE,.9-Co
ON/tt0 OAtip TA,1/c 1/AR/2/$ T?1)67- 4nN7'4. 7-41/N4/5 WNIlt Ul r i T)
i4F/'/'/14 l->'NCA4 (NAS5 --!1AN//44-7T4M' THI Ld1)ELPP/A NAT'e_
ZtE A2 7 E.A/'//5
F/25T 1eNNCO
Coupon Coupon Coupon Coupon Coupon Coupon
c,2$% 197to19 K;7o% 197gto1985— r,oi % 197 'to19es 6•SO%u197 ' to19fi5 7/010197�' to19 96 6,1o% 19'J• to19g
4 o% 19 79 to 19,7' 6,/O% 19 k'(:,to 19 9/ ,$ 70% 19 76 to 19 gg (p,4Q% 19 g6' to 19 f/ a,00% 19 67 to 19 9O 3:'7 % 19 ' to 19 b%9
4,y o 19 (,' to 19 (n,3o% 19 qz to 19 93 G,a o% 19 79 to 19 7/ 64i/(2.% 19 9.2 to 19 99 6,2O% 19 9/ to 19 9Z. (;,00% 19 9) to 19
6,/p 1. 19 cry to 19 9/ 6,4,0% 19 7y to 19 95 („z5% 19 9�to 19 96 ',j O% 19 9,5 to 19 96 6,5o% 19 95 to 19 9;1— 4,9Q % 19 ?/ to 19 93
6.25% 19 92 to 19 9$- 5,50% 1976 to 19 ?7 S,SO% 19 97 to 19 5.,0% 19 97 to 19 5 6-0>0% 19 94 to 19 77 G,4/O% 19 9.r to 19
6,3/4J%0197(to19 • % 19 to 19 % 19 to 19 % 19 to 19 % 19to19 6,5070199rto1997
sob %, 77
Ex. Cpns: Ex. Cpns: Ex. Cpns: Ex. Cpns: Ex. Cpns: Ex. Cpns:
to to to to to to
Gross $ 7 y0 3P(),Yy/ Gross $74/0r 55/,/?7 Gross $ 7ve" /74",o0 Gross $7 y/,75/.A5/ Gross $ ../'7 Q'J�/.9y/ Gross $j S0Q/ /3U,/y
Prem. Disc.$ — Prem. Disc. ys(J/,gO Prem. Disc.$ //,j op Prem. Disc.$ 3Sy',/3 Prem. Disc.$ of 027,7OPrem. Disc.$
Net $ `/5/03 3`i30,g`/ Net $ 75/D./DS(5,67 Net $ gS/0g- woo Net $ e7y//593,7/ Net $ 7y7, Os2,.gy Net $ s61/3y/,/1C
Net Rate ,,, % Net Rae / /
C /3y6 � 6, /�5�--% Net Rate G�,l3 Fitt % Net Rae�i�/y/,/.'//•% Net Rafe ., %9 6/%. % Net Rate 6,2/y %
Position / Position 2. Position 3 Position 5/ Position ,$ Position 6
RESULTS OF SALE . •
BURROWS, SMITH & COMPANY 1003 Kearns Building Salt Lake City, Utah 84101
� r/ 328-1511
Issue: $ '' JSo o O dO JACr1A/c6 (2,ry O-, y 'ro2r Sale Date /4 7S--- Covered by:
/ / /
Syndicate Syndicate Syndicate Syndicate Syndicate Syndicate
./(/O%lA/V AT-4'`irY eAwc or A.tt c�ic 9 .l.4a1 Sr7 .. TGAiAr I" /(/.2rfrEki/ 7,eo57--- e /CF 2
J 4r( tr!irrFQ
Coupon Coupon Coupon Coupon Coupon Coupon
7„c() % 197?to19 ?3 (40% 19 t 'to19 f3 7O0%u197,yto19 R3 67,40 % 1975, to19 S99 r;.7j/0197vto19 ?L % 19_to19_
C"•60 % 19 ?I/to 19 g'9 6,60% 19 5 y to 19 g7 6;5-0% 19 9yto 19 G,20 1019 90 to 19 9/ ,' o% 19 g3 to 19 9,9 % 19 to 19_
,/o %n 19 90 to 19 .,30% 19 p to 19 9Z. (.;.6()% 19 8s 6q
—to 19 96 ,_4102% 19%. ato 19 93 ,23-% 19 9(i to 19 9. % 19 to 19_
6r2$'% 19 9/ to 19�i— P)G% 19 93 to 19 94 6,25-% 19 9/ to 19 92 G•SD`io 19 9V to 19 97 6s0%u 19 99to 19 96 % 19 to 19
640 % 1997to19 S.5 % 1997to19 �,f0% 1993to19 4 % 19 to19 ,70% 199‘to19 % 19—to 19_
_% 19 to 19 • % 19 to 19 5,SO% 19 77 to 19 7019 to 19 6,7J % 19 97 to 19 To 19 to 19_
Ex. Cpns: Ex. Cpns: Ex. Cpns: Ex. Cpns: Ex. Cpns: Ex. Cpns:
to to to to to to
Gross $ 7 532, 9�9 Gross $ 7 519 791,�7 Gross $ 7S//<,27,5-,0 Gross $ �J 6//779,77 Gross $ 7702 /73,33 Gross $
Prem. Di c.$ y fry boo Prem. Disc. 's/yf/y,ds Prem. Disc.$ Prem. Disc.$ 6(y,o Prem. Disc.$ /06,j0 Prem. Disc.$
Net $ /7 5f //c/,a Net $ /�53s z/y CL Net $ 2 SY/�7r/Od Net $ 6/7 Dt,�,77 Net $ 77�7e73,/.� Net $
Net Rate C,23 gQ % Net Rate 4,Z1jyO % Net Rate 6, ?t/eR. % Net Rate 6, n1.5-r. % Net Race gApi? % Net Rate
Position 7 Position e Position 1 Position /p Position // Position
Salt Lake City, Utah
October 7, 1975
The Board of Commissioners of Salt Lake City, Salt
Lake County, Utah, met in public session at its
regular meeting place in Room 301, in the City and County
Building in Salt Lake City, Utah, at 10:00 o'clock A.M. , on
October 7, 1975, with the following members present:
Conrad B. Harrison, Mayor
Glen N. Greener, Commissioner
Stephen M. Harmsen, Commissioner
Jennings Phillips, Jr. , Commissioner
Herman J. Hogensen, Commissioner
There were absent: NONE
There were also present Mildred V. Higham, City
Recorder, and Env'. F C„rlar , City Attorney.
After the meeting had been duly called to order and
the roll called with the above results, and after the conduct of
other business, at the hour of 10:30 o'clock A.M. , M.D.T., the
Mayor stated that the meeting was called pursuant to notice
for the purpose, among other things, of opening sealed bids
received for the purchase of $8,500,000 General Obligation Airport
Bonds, Series 1975, of Salt Lake City.
The City Recorder then presented the sealed bids for
the purchase of said bonds which had been received, which bids
were opened and found to be as follows:
•
til
y �
NAME OF BIDDER NET INTEREST COST PREMIUM
First National City Bank $7,403,380.84 None
United California Bank • (NER 6.1346%)
Merrill Lynch, Pierce, Fenner & Smith
Bear, Stearns & Company
and Associates
Harris Trust and Savings Bank $7,404,050.67 $4,501.00
The Chase Manhattan Bank, N.A. (NER 6.1352%)
First Security Bank of Utah, N.A.
and Associates
Bankers Trust Company • $7,408,021.00 $115,00
Walker Bank and Trust Company (NER 6.1384%)
and Associates
First National Bank of Chicago $7,411,593.71 $358.13
Continental Illinois National Bank
Philadelphia National Bank
and Associates
Weeden & Company, Inc. $7,476,052.24 $2,022.70
and Associates (NER 6.1948%)
Boettcher and Company $7,500,134.18 None
White, Weld and Company (NER 6.214%)
and Associates
Morgan Guaranty Trust Company $7,528,118.00 $4,871.00
Zions First National Bank (NER 6.2380%)
and Associates
Bank of America NT and SA $7,535,448.62 $4,443.05
Dean Witter & Co. Inc. (NER 6.2440%)
and Associates
Halsey, Stuart & Co., Inc. $7,541,275.00 None
Bache & Co., Inc. (NER 6.2488%)
and Associates
The Northern Trust Company $7,606,065.77 $5,664.00
First National Bank in Dallas (NER 6.30258%)
and Associates
Crocker National Bank $7,701,873.13 $300.20
and Associates (NER 6.3819%)
-2-
After due deliberation it was determined that the bid
of First National City Bank
of New Y>rk City , New York , and associates,
was the highest and best bid submitted for the purchase of said
bonds, whereupon the following resolution was introduced in written
form byConrad B. Harrison, Mayor was read in full, and pursuant to
motion made by Jennings Phillips, Jr.and seconded by Herman J. Hogensen
was adopted by the following vote:
Aye: Conrad B. Harrison, Mayor
Jennings Phillips, Jr., Commissioner
Herman J. Hogensen, Commissioner
Stephen M. Harmsen, Commissioner
Glen N. Greener, Commissioner
Nay: None.
The resolution was thereupon signed by the Mayor in
open meeting and recorded by the City Recorder and is as follows:
A RESOLUTION authorizing the issuance of $8,500,000
General Obligation Airport Bonds, Series 1975, of
Salt Lake City, Utah, providing for the levy of taxes
to pay principal of and interest on said bonds, fixing
the interest rates to be borne thereby, fixing the place
of payment thereof, ratifying the publication of the
notice of sale with respect thereto, making certain
findings and covenants in connection therewith, providing
for the publication of a Notice of Bonds to be Issued, and
providing for a contest period.
*** *** ***
WHEREAS at a special bond election duly and lawfully
called and held in Salt Lake City, Salt Lake County, Utah, on
December 1, 1970, the following proposition was submitted to a vote
of the qualified electors of said city:
-3-
PROPOSITION
Shall negotiable coupon general obligation bonds of
Salt Lake City, Utah, in the sum of $25,000,000
bearing interest at a rate or rates not in excess of
eight per cent (8%) per annum and due and payable in
not to exceed thirty (30) years from the respective
date or dates thereof, be issued and sold 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 con-
nection 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?
WHEREAS the result of said election was declared by
the Board of Commissioners of said city, sitting as a Board of
Canvassers, by resolution duly passed on December 7, 1970; and
WHEREAS $8,500,000 of the bonds voted at said
election have heretofore been issued and delivered, and it has
been determined to authorize the issuance and sale of an
additional $8,500,000 of said bonds at this time; and
WHEREAS a notice inviting sealed bids for the purchase
of said bonds has been advertised by publication on September 15
1975, of a Notice of Sale in The Daily Bond Buyer, a newspaper
published in New York, New York, and brought to the attention
of potential purchasers and the bids received pursuant to such
notice have been tabulated and the bid of First National City Bank
, of New York City
New York , and associates, has been determined to be
-4-
11.
BID FORM r
$8,500,000 1
GENERAL OBLIGATION AIRPORT BONDS
SERIES 1975
SALT LAKE CITY, SALT LAKE COUNTY, UTAH
City Recorder
City and County Building
Room 301
Salt Lake City, Utah 84111
Dear Madam:
For$8,500,000 par value General Obligation Airport Bonds,Series 1975,of Salt Lake City,dated
November 1, 1975, denomination $5,000 and maturing serially on July 1,1978 through July 1,1997;
in the amounts shown herein,with interest payable July 1, 1976, and semi-annually thereafter on
the first days of January and July of each year at the rate or rates specified herein until said bonds
are paid,we will pay _4 I2I a.-':20,plus accrued interest to the date of delivery of said bonds to us.
The schedule of maturities,coupon rate or rates,total interest cost,the net interest cost,and the
effective rate of interest upon which this bid is based with interest computed from November 1,
1975 to the maturity date of the bonds are as follows:
Maturity Date Cumulative
(July 1) Amount Coupon Bond Years Bond Years
1978 $220,000 ‘2'2-3 % 586.667 586.667
1979 230,000 6's0 % 843.333 1,430.000
1980 250,000 ....(2•' -' % 1,166.667 2,596.667
1981 265,000 6.3-0 % 1,501.666 4,098.333
1982 280,000 (c,'5-0 % 1,866.667 5,965.000
1983 300,000 6•SQ % 2,300.000 8,265.000
1984 320,000 5 0 % 2,773.333 11,038.333
1985 340,000 ,.A 0 % 3,286.667 14,325.000
1986 365,000 li,.s-D % 3,893.333 18,218.333.
1987 385,000 5-0 % 4,491.667 22,710.000,
1988 410,000 62•46) % 5,193.333 27,903.333.
1989 440,000 .'./C % 6,013,334 33,916.667
1990 470,000 6.J C % 6,893.333 40,810.000
1991 500,000 .. /O % 7,833.333 48,643.333
1992 530,000 4,'r- % 8,833.334 57,476.667
1993 565,000 �•2 5 % 9,981.666 67,458.333
}
1994 600,000 S�l:?:.S_..i
.% 11,200.000 78,658.333
1995 640,000 •2- % 12,586.667 91,245.000
1996 680,000 C•¢0 % 14,053.333 105,298.333
1997 710,000 S 00 % 15,383.334 120,681.667
Total Interest to Maturity 7i_ %<73, S"4'
Less Premium
Net Effective Interest Cost 7 1 c .-do.E 9—
Net Effective Interest Rate 6.,/3 4-4,.
-
This bid is submitted in accordance with and subject to all provisions contained in the Official
Notice of Bond Sale of these bonds which by this reference is made a part hereof.
A cashier's cheek or certified good faith check in the sum of$170,000 drawn upon an incorpo-
rated batik or trust company ned payable to the City Treasurer of Salt Lake City is enclosed to be
retained by said City Treasurer and applied on the purchase price of these bonds if we are the suc-
cessful bidder, otherwise to be returned to us.
We hereby name as
paving agent or will so name the paying agent within three days after the receipt of bids as required
in the Official Notice of Bond Sale.
Respectfully submitted this 7th day of October, 1975.
FIRST NATIONAL CITY BANK
UNITED CALIFORNIA BANK
MERRILL LYNCH, PIERCE,- FENNER
& SMITH, INC.
BEAR, STEARNS & COMPANY
(JOINT MANAGERS)
FIRSTf, ENNCO SECURITIES, INC.
STEP14ENS
BY: .-.{y : i ::7..Cr»i11ER
---CS-I-vrJE-'fsJ•-
Accepted for and on behalf of Salt Lake City,Utah,this day of
1975.
Mayor
ATTEST:
City Recorder
Good faith check returned and receipt thereof acknowledged this day of
1975.
the highest and best bid for the purchase of said bonds, said
bid being in full as follows:
; and
-5-
7 r
WHEREAS in the opinion of the Board of Commissioners,
it is to the best interests of the city that such bid be accepted
and the sale of such bonds to said First National City Bank
, Of New 7brk City , New York
and associates, be ratified and confirmed;
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 under authority of Chapter 14 of
Title 11, Utah Code Annotated, 1953, as amended, otherwise known
as the Utah Municipal Bond Act, General Obligation Airport
Bonds of Salt Lake City, Utah, in the amount of $8,500,000 shall
be issued 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,
for said city. The bid of First National City Bank
, Of New York City , New York
and associates, for the purchase of $8,500,000 General Obligation
Airport Bonds, Series 1975, of said-city, pursuant to the bid
which is set out 1n full in the preamble hereto, be and the
same is hereby accepted.
-6-
Section 2. That said bonds shall be known as "General
Obligation Airport Bonds, Series 1975" shall be dated November
1, 1975, of the denomination of $5,000 each, numbered 1 to 1700,
inclusive, and shall bear interest from date until paid at the
rate or rates hereinafter set forth, which interest shall be
payable July 1, 1976,. and semiannually thereafter on the first
days of January and July of each year. Such bonds shall mature
serially in numerical order on July 1 of each of the years and
be numbered and bear interest as follows:
okr
BOND NUMBERS AMOUNT INTEREST RATE YEAR /j ,
1 to 44 $220,000 6.25% 1978
45 to 90 230,000 6.50% 1979
91 to 140 250,000 6.50% 1980
141 to 193 265,000 6.50% 1981
194 to 249 280,000 6.50% 1982
250 to 309 300,000 6.50% 1983
310 to 373 320,000 6.50% 1984
374 to 441 340,000 6.50% 1985
442 to 514 365,000 6.50% 1986
515 to 591 385,000 6.50% 1987
592 to 673 410,000 6.40% 1988
674 to 761 440,000 6.10% 1989
762 to 855 470,000 6.10% 1990
856 to 955 500,000 6.10% 1991
956 to 1061 530,000 6.25% 1992
1062 to 1174 565,000 6.25% 1993
1175 to 1294 600,000 6.25% 1994
1295 to 1422 640,000 6.25% 1995
1423 to 1558 680,000 6.40% 1996
1559 to 1700 710,000 5.00% 1997
Both principal and interest shall be payable in lawful
money of the United States of America at First National City
Bank , in New York City , New York
Bonds numbered 442 to 1700, inclusive, shall be
subject to the right of the city to redeem the same in inverse
numerical order on July 1, 1985, and on any interest payment date
thereafter at the price of par plus accrued interest to the
date fixed for redemption plus a premium of 2% of the principal
amount of each bond so called for redemption on or prior to
-7-
January 1, 1986, which premium is to reduce by 1/4 of 1% in
each twelve-month period thereafter until reduced to 1/2%, so
that the premium payable on bonds redeemed on July 1, 1991,
and thereafter prior to maturity is to be 1/2%, such premium to
be computed according to the following schedule:
2% on July 1, 1985, and January 1, 1986
1-3/4% on July 1, 1986, and January 1, 1987
1-1/2% on July 1, 1987, and January 1, 1988
1-1/4% on July 1, 1988, and January 1, 1989
1% on July 1, 1989, and January 1, 1990
3/4% on July 1, 1990, and January 1, 1991
1/2% on July 1, 1991, and thereafter prior to maturity.
Notice of any such redemption shall be given not less than thirty
(30) days prior to the date fixed for redemption by publication
of an appropriate notice one time in a financial newspaper or
journal published in the City of New York, New York, or Chicago,
Illinois, and sent by registered mail to the place of payment of
the bonds, to the original purchaser of the bonds and to Burrows,
Smith and Company, Salt Lake City, Utah.
Section 3. That said bonds and the interest coupons
thereto attached shall be in substantially the following form:
-8-
(Form of Bond)
UNITED STATES OF AMERICA
STATE OF UTAH
SALT LAKE COUNTY
SALT LAKE CITY
GENERAL OBLIGATION AIRPORT BOND, SERIES 1975
Number $5,000
KNOW ALL MEN BY THESE PRESENTS that Salt Lake City,
Salt Lake County, Utah, for value received, hereby acknowledges
itself to be indebted and promises to pay to the bearer hereof
the sum of Five Thousand Dollars ($5,000) on the first day of
July, 19 , with interest thereon from the date hereof until
payment of principal at the rate of per cent ( %)
per annum, payable July 1, 1976, and semiannually thereafter
on the first days of January and July in each year, such interest
falling due on and prior to maturity, payable only upon presentation
and surrender of the attached interest coupons as they severally
become due. Both principal of and interest on this bond are
payable in lawful money of the United States of America at
The bonds of the issue of which this bond is one
maturing on and after July 1, 1986, are subject to the right
of the city to redeem the same on July 1, 1985, and on any
interest payment date thereafter in inverse numerical order at
the price of par and accrued interest to the date fixed for
redemption plus a premium of 2% of the principal amount of each
such bond so called for redemption if redeemed on or prior to
January 1, 1986, which premium will reduce by 1/4 of 1% in each
-9-
•
twelve-month period thereafter until reduced to 1/2%, so that
the premium payable on bonds redeemed on July 1, 1991, and there-
after prior to maturity, will be 1/2% of the principal amount of
each such bond so called for redemption. Notice of the call of
any of the bonds for redemption shall be given not less than
thirty (30) days prior to the date fixed for redemption, by
publication of an appropriate notice one time in a financial
newspaper or journal published in the City of New York, New York,
or Chicago, Illinois, and sent by registered mail to the place
of payment of the bonds, to the original purchaser of the bonds
and to Burrows, Smith and Company, Salt Lake City, Utah.
This bond is one of an issue of 1700 bonds of like
date, tenor and effect, except as to maturity, option of
redemption (and interest rate) aggregating the sum of Eight
Million Five Hundred Thousand Dollars ($8,500,000) issued 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 reloca-
tion 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, for said city under and
by virtue of and in full conformity with the Constitution and
laws of the State of Utah, including particularly the Utah
-10-
•
Municipal Bond Act, Chapter 14 of Title 11, Utah Code
Annotated, 1953, as amended, and a resolution duly adopted by
the Board of Commissioners of said city on October 7, 1975,
after having been duly authorized at an election legally held in
said city on December 1, 1970.
The Board of Commissioners of Salt Lake City covenants
and is by law required to levy annually a tax sufficient to pay
the interest on this bond as it falls due and also to
constitute a sinking fund sufficient to pay the principal when
due.
It is hereby certified, recited and declared that all
conditions, acts and things essential to the validity of this
bond and the issue of which it forms a part do exist, have
happened, and have been done, and that every requirement of law
affecting the issue thereof has been duly complied with, and that
this bond is within every debt and other limit prescribed by
the Constitution and laws of the State of Utah, and that the
full faith and credit of Salt Lake City are hereby irrevocably
pledged to the punctual payment of the principal of and interest
on this bond according to its terms.
IN WITNESS WHEREOF, Salt Lake City has caused this
bond to be signed by its Mayor and countersigned by its City
Recorder (the signature of said Mayor being by facsimile), with
the facsimile of the corporate seal of the city imprinted
thereon, and the coupons hereto attached to be signed with the
facsimile signatures of said officers, who by the execution hereof
do adopt as and for their own proper signatures their facsimile
signatures appearing on each of said coupons, all as of the
first day of November, 1975.
(Facsimile signature)
Countersigned: Mayor
City Recorder
(FACSIMILE SEAL)
-11-
(Form of Coupon)
Number $
On the first day of , 19 , unless the herein-
after mentioned bond is then callable for redemption and has been
so called and provision for the payment thereof duly made,
Salt Lake City, Salt Lake County, Utah, will pay to the bearer
hereof the amount shown hereon at
, in
in lawful money of the United States of America, being the interest
then due on its General Obligation Airport Bond, Series 1975,
dated November 1, 1975, and numbered
(Facsimile signature)
Mayor
Countersigned:
(Facsimile signature)
City Recorder
Section 4. That each of said bonds shall be signed
by the Mayor and countersigned by the City Recorder (the
signature of said Mayor being by facsimile), with the facsimile
of the corporate seal of said city imprinted thereon, and the
said coupons shall bear the facsimile signatures of said
officers. The Mayor is hereby empowered and directed to sign,
and the City Recorder to authorize the facsimile of the
corporate seal of the city to be imprinted on each of said
bonds and the acts of said Mayor and City Recorder in so doing
are and shall be the act and deed of Salt Lake City, Utah. The
use of the facsimile signature of the Mayor on the face of the
bonds is hereby authorized and approved as the authentic
execution thereof. All of the covenants, statements, representa-
tions and agreements contained in said bonds and coupons, and all
-12-
•
of the recitals and representations of this resolution are
hereby considered and understood, and it is hereby ordered and
declared that said covenants and promises therein are the
covenants and promises of Salt Lake City, and that the representa-
tions and statements therein are the representations of said
city.
Section 5. That to pay the interest falling due on
said bonds as the same becomes due, and also to provide a sinking
fund for the payment of the principal of said bonds at maturity,
there shall be and is hereby levied on all taxable property
in said city, in addition to all other taxes, a direct annual
tax sufficient to pay the interest on said bonds and to pay and
retire the same as hereinbefore provided. Said taxes when
collected shall be applied solely for the purpose of the payment
of said interest on and principal of said bonds, respectively,
and for no other purpose whatsoever until the indebtedness
so contracted under this resolution, principal and interest,
shall have been fully paid, satisfied and discharged, but nothing
herein contained shall be so construed as to prevent said city
from applying any other funds that may be in the city treasury
and available for that purpose to the payment of said interest
and principal as the same respectively mature, and the levy or
levies herein provided for may thereupon to that extent be
diminished. The sums herein provided for to meet the interest
on said bonds and to discharge the principal thereof when due,
are hereby appropriated for that purpose. Principal and interest
falling due at any time when there are on hand from the proceeds
of the above tax levy insufficient funds, shall be advanced from
-13-
other funds of the city available for such purpose and such
other funds shall be reimbursed when the tax levy proceeds
become available.
Section 6. That the sale of said $8,500,000
General Obligation Airport Bonds, Series 1975, to First
National City Bank , of New York City
New York , and associates, at the price of par and
accrued interest to the date of delivery plus a premium of
$ None is hereby ratified and confirmed. The City Treasurer
is hereby instructed to make delivery of such bonds to the
purchasers thereof as soon as may conveniently be after the
adoption of this resolution and to receive payment therefor in
accordance with the terms of sale and to set the proceeds of
said sale aside into a separate fund apart from the general
funds of the city to be used for the purpose for which the bonds
are herein authorized.
Section 7. The city covenants and agrees with the
holders of the bonds from time to time that in addition to
creating such funds and accounts as shall be necessary to provide
for the payment of principal of and interest on the bonds
herein authorized, there has heretofore been created and there
shall continue to be maintained a fund designated as the "Salt
Lake City General Obligation Airport Bonds 1970 Election Reserve
Fund", hereinafter in this resolution referred to as the "Reserve
Fund". The moneys from time to time on deposit in the Reserve
Fund shall be used to pay the principal of and interest on bonds
of the city authorized for airport purposes at the December 1,
1970, election as the same are from time to time issued and
outstanding, in the event that no other funds or revenues are
-14-
available for such purpose. There shall continue to be deposited
into the Reserve Fund by the City Treasurer on or prior to the
30th day of June of each year the sum of $75,000 until the
total sum of $800,000 has been accumulated in the Reserve Fund.
At the time of the retirement of the General Obligation Airport
Bonds, Series January 1, 1959, of the city, all funds remaining
in the Reserve Account established in connection with said 1959
bonds shall forthwith be transferred and paid into the Reserve
Fund herein created to the extent necessary to accumulate in
such Reserve Fund the aforesaid amount of $800,000. As additional
series of the remaining bonds for airport purposes authorized
at the December 1, 1970, election are authorized, the proceeding
authorizing the issuance of such bonds may provide for an
increase in the amount to be accumulated in the Reserve Fund.
Moneys from time to time on deposit in the Reserve
Fund may, in the discretion of the city, be invested as permitted
under the laws of the State of Utah for the investing of public
funds or may be deposited in any bank or trust company to be
held and secured as from time to time provided by the State Money
Management Act of 1974 of the State of Utah. All income arising
from the investment or deposit of the moneys from time to time
in the Reserve Fund shall be deposited into the Reserve Fund
until the amount hereinabove required to be maintained in the
Reserve Fund shall be on deposit in said fund, and thereafter may
be transferred to the general funds of the city to be used for
any lawful purpose.
If payments are made from the Reserve Fund for any
purpose for which the fund is created, deposits into the fund
-15-
shall be recommenced as above provided until the amount on
deposit in the Reserve Fund shall again equal $800,000. The
Reserve Fund shall be maintained in the amount of $800,000 until
such time as the amount on deposit in the Reserve Fund is
sufficient to pay all outstanding bonds of the city for airport
purposes for the benefit of which the Reserve Fund is herein
created at which time the moneys in said fund may be used to
call bonds for prior redemption or to purchase bonds on the open
market at a price or prices not exceeding the price at which such
bonds may then be called for prior redemption, may be used to
retire said bonds as the same normally mature according to their
term or may be retained in the Reserve Fund until all of said
bonds have been fully paid, retired and cancelled, and then the
moneys in the Reserve Fund may be transferred to the operating
fund of the airport to be used for any lawful purpose.
Section 8. That the principal proceeds of the sale
of said bonds shall be devoted to and used with due diligence
for the completion of the airport facilities for which said
bonds are hereby authorized to be issued. The Board of Commis-
sioners of Salt Lake City represents and certifies that:
(1) Salt Lake City, Utah, has heretofore incurred or,
within six months after delivery of the bonds expects to
incur, a substantial binding obligation with respect to
said facilities; said binding obligations comprising:
Utilities and car rental relocation, site work for north and south
a>>rrcrt of the ,,.,r*h „rh rampnrary h.g Maim
areas, construction of the three, south support buildings, and payment
SAIID ?-.40cf+ are. All Zit;-e.. o(Z-
r architectural services. S�6se.a� -cs �w-1 3,405 Ccs�4,-oafs w��
,Soa'�-S 02 co1.Slo-c..c-A,jr RrmnS.
in the amount of not less than 2-1/2% of the estimated total
cost of said facilities;
16-
(2) Salt Lake City, Utah, expects that over 85% of the
spendable proceeds of said bonds (including investment
proceeds) will be expended on or before November 1, 1978,
for the purpose of paying the cost of said facilities,
said date being within three years following the date of
issue of said bonds;
(3) work on the said facilities is expected to proceed
with due diligence to completion;
(4) said facilities have not been and are not expected to
be sold or otherwise disposed of in whole or in part
prior to the last maturity of said bonds;
(5) all of the principal proceeds of the bonds are
needed for the purposes stated in the form of bond above
set out, including expenses incidental to such purpose
and to the issuance of the bonds; and
(6) to the best of the knowledge and belief of the Board
of Commissioners of Salt Lake City, Utah, there are no
facts, estimates or circumstances that would materially
change the conclusions and representations set out in
this section.
Said city also certifies and further covenants with the
purchasers and holders of said bonds from time to time outstanding
that so long as any of said bonds remain outstanding, moneys on
deposit in any fund or account in connection with said bonds,
whether or not such moneys were derived from the proceeds of the
sale of said bonds or from any other sources, will not be used
in a manner which will cause such bonds to be "arbitrage bonds"
within the meaning of Section 103(d) of the Internal Revenue
Code of 1954, as amended, and any lawful regulations promulgated
-17-
or proposed thereunder, including Sections 1.103-13 and 1.103-14
of the Income Tax Regulations (26 CFR Part 1), as the same
presently exist, or may from time to time hereafter be amended,
supplemented or revised. The city reserves the right, however,
to make any investment of such moneys permitted by state law
if, when and to the extent that said Section 103(d) or regulations
promulgated thereunder shall be repealed or relaxed or shall be
held void by final decision of a court of competent jurisdiction,
but only if any investment made by virtue of such repeal,
relaxation or decision would not, in the opinion of counsel of
recognized competence in such matters, result in making the
interest on said bonds subject to Federal income taxation.
Section 9. That all proceedings, resolutions and
actions of this board taken in connection with the sale and
issuance of the aforesaid $8,500,000 General Obligation Airport
Bonds, Series 1975, including the advertisement of the Notice
of Bond Sale with respect to said bonds in The Daily Bond Buyer
on September _, 1975, are hereby ratified, confirmed and
approved.
Section 10. That in accordance with the provisions
of Section 11-14-21, Utah Code Annotated, 1953, as amended,
the City Recorder shall cause the following "Notice of Bonds
to be Issued" to be published one time in Deseret News ,
a newspaper published and of general circulation in Salt Lake
City, Utah, and to cause a copy of this resolution to be kept
on file in her office for public examination during regular
business hours until at least thirty (30) days from and after
the date of publication thereof. The "Notice of Bonds to be
Issued" shall be in substantially the following form:
-18-
NOTICE OF BONDS TO BE ISSUED
NOTICE IS HEREBY GIVEN pursuant to the provisions
of Section 11-14-21, Utah Code Annotated, 1953, as amended,
that on October 7, 1975, the Board of Commissioners of Salt
Lake City, Salt Lake County, Utah, accepted the bid of First
National City Bank, United California Bank, Merrill Lynch, Pierce, Fenner &
Smith, Inc., Bear, Stearns & Company (Joint Managers), First Pennco Securities, Inc.
Stephens, Inc.
for the purchase of $8,500,000 General Obligation Airport
Bonds, Series 1975, of said city, dated November 1, 1975, at the
price of $8,500,000 plus a premium of $ None . Said purchaser
made a good faith deposit of $170,000 in connection with its
bid.
Said General Obligation Airport Bonds, Series 1975,
pursuant to a resolution of the Board of Commissioners of
Salt Lake City duly adopted on October 7, 1975, are to be issued
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, for said city,
and bear interest and mature on July 1 of each of the years and
in the amounts as follows:
-19-
I
BOND NUMBERS AMOUNT INTEREST RATE YEAR
1 to 44 $220,000 6.25% 1978
45 to 90 230,000 6.50% 1979
91 to 140 250,000 6.50% 1980
141 to 193 265,000 6.50% 1981
194 to 249 280,000 6.50% ?982
250 to 309 300,000 6.50% 1983
310 to 373 320,000 6.50% 1984
374 to 441 340,000 6.50% 1985
442 to 514 365,000 6.50% 1986
515 to 591 385,000 6.50% ?9B7
592 to 673 410,000 6.40% 1988
674 to 761 440,000 6.10% 1989
1762to 855 470,000 6.10% �990
856 to 955 500,000 6.10% 1991
956 to 1061 530,000 6.25% 1992
1062 to 1174 565,000 6.25% 1993
1175 to 1294 600,000 6.25% 1994
1295 to 1422 640,000 6.25% 1995
1423 to 1558 680,000 6.40% 1996
1559 to 1700 710,000 5.00% 1997
A copy of the resolution adopted on October 7, 1975,
by the Board of Commissioners of Salt Lake City authorizing the
issuance and confirming the sale of the above described
$8,500,000 General Obligation Airport Bonds, Series 1975, is on
file in the office of the City Recorder of said city, in Room
200 , City and County Building, Salt Lake City, Utah, where it
may be examined during regular business hours of the City Recorder
from 8:00 o'clock A.M. to 5:00 o'clock P.M. Said resolution
shall be so available for inspection for a period of at least
thirty (30) days from and after date of the publication of this
notice.
NOTICE IS FURTHER GIVEN that pursuant to law for a
period of thirty (30) days from and after the date of the
publication of this notice, any person in interest shall have
the right to contest the legality of the above described
resolution of the Board of Commissioners of Salt Lake City, Utah,
adopted on October 7, 1975, or the $8,500,000 General Obligation
Airport Bonds, Series 1975, of said city authorized thereby, or
-20-
any provisions made for the security and payment of such bonds,
and that after such time, no one shall have any cause of action
to contest the regularity, formality of legality thereof for any
cause whatsoever.
DATED this 7th day of October, 1975.
City Recorder,ity�
(SEAL) Salt Lake City, Uta
For a period of thirty (30) days after such publication, any
person in interest shall have the right to contest the legality
of this resolution or of the bonds hereby authorized or any
provisions made for the security and payment of such bonds.
After such time, no one shall have any cause of action to
contest the regularity, formality or legality of this resolution
or the bonds herein authorized for any cause whatever.
Section 11. That all resolutions or parts thereof
in conflict herewith be and the same are, to the extent of
such conflict, hereby repealed, and after said bonds are issued,
this resolution shall be and remain irrepealable until said
bonds and the interest thereon shall have been fully paid,
satisfied and discharged as herein provided.
Section 12. That this resolution shall become
effective immediately upon its adoption.
PASSED AND APPROVED by the Board of Commissioners of
Salt Lake City, Salt Lake County, Utah, this 7th day of October,
1975.
ltti0vt
Attest: Mayor
iti144
City Recorder
Published October 11, 1975
-21-
.
(Other business not pertinent to the above appears in
the minutes of the meeting. )
Upon motion duly made and carried, the meeting was
adjourned.
Attest: Mayor
City Recorder
STATE OF UTAH
COUNTY OF SALT LAKE )
I, Mildred V. Higham, the duly qualified and acting
City Recorder of Salt Lake City, Utah, do hereby certify, according
to the records of said city in my official possession, that the above
and foregoing constitutes a true and correct copy of excerpts from
the minutes of the meeting of the Board of Commissioners of Salt
Lake City, Utah, held on October 7, 1975, including a resolution
adopted at said meeting, as said minutes and resolution are
officially of record in my possession.
I further certify that in accordance with the provisions
of Section 10 of the foregoing resolution, on October 7, 1975,
I caused a true and correct copy of the above referred to resolu-
tion to be filed in my office for examination by any interested
person during the regular business hours of my office.
IN WITNESS WHEREOF, I have hereunto subscribed my
official signature and impressed hereon the corporate seal of
said city, this 7th Iday of October , 1975.
(SEAL) City7ib ico.41.4erder �•
PHH:r
9/5/75 -22-