75 of 1981 - A RESOLUTION OF THE CITY COUNCIL OF SALT LAKE CITY, UTAH, ADDING A PROCEDURE WHEREBY PARTIAL RELEASE 61
Resolution No. 0
By
An addendum to Curb and Gutter
• Extension #38-668, #38-668-1, and
#38-668-2.
Salt Lake City, Utah
September 1, 1981
The City Council of Salt Lake City, Salt Lake County,
State of Utah, met in regular public session on the 1st day of
September, 1981, at the hour of 5: 00 p.m. at its regular meet-
ing place in Salt Lake City , Salt Lake County, Utah.
On roll call, the following members were determined
present:
Palmer DePaulis Chairman
Alice Shearer Council Member
Sydney Fonnesbeck Council Member
Grant Mabey Council Member
Ronald J. Whitehead Council Member
Ione M. Davis Council Member
Edward W. Parker Council Member
There were also present:
Ted L. Wilson Mayor
Kathryn Marshall City Recorder
Roger Cutler City Attorney
Absent: None.
After the meeting had been duly called to order , the
City Recorder presented to the City Council an affidavit evi-
dencing the giving of not less than twenty-four (24 ) hours pub-
lic notice of the agenda, date, time and place of the September
1, 1981, meeting in compliance with the requirements of Section
52-4-6 (2 ) , Utah Code Annotated, 1953 , as amended, by ( 1 ) post-
ing written notice of the meeting at the principal office of
the City Council and (2 ) providing notice to at least one news-
paper of general circulation within the geographic jurisdiction
of Salt Lake City , Utah, or to a local media correspondent.
The affidavit was ordered recorded in the minutes of the meet-
ing and is as follows:
STATE OF UTAH
:ss.
COUNTY OF Salt Lake)
I , the undersigned, the duly qualified and acting
Recorder of Salt Lake City, Salt Lake County, State of Utah, do
hereby certify , according to the records of said City Council
in my official possession, and upon my own knowledge and
belief , that in accordance with the requirements of Section
52-4-6 (2) , Utah Code Annotated, 1953 , as amended, I gave not
less than twenty-four (24) hours public notice of the agenda,
date, time and place of the September 1, 1981, public meeting
held by the City Council of Salt Lake City, Utah, by:
(a) Causing a Notice of Public Meeting to be posted
at the principal office of the City Council in Salt Lake
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City, Utah, on the 28th day of August, 1981, at least
twenty-four (24 ) hours before the convening of the meeting,
in the form attached hereto as Exhibit A; said Notice of
Public Meeting having continuously remained so posted and
available for public inspection during the regular office
hours of the Salt Lake City Offices until the convening of
the meeting; and
(b ) Causing a copy of the Notice of Public Meeting in
the form attached hereto as Exhibit A to be provided on the
28th day of August , 1981 , at least twenty-four (24 ) hours
before the convening of the meeting, to the Deseret News, a
newspaper of general circulation within the geographical
jurisdiction of Salt Lake City, and to each local media
correspondent , newspaper , radio station, or television
station which has requested notification of meetings of the
Salt Lake City Council.
IN WITNESS WFEREGF, I have hereunto subscribed my
official signature and impressed hereon the official seal of
Salt Lake City, Utah, as of the 1st day of September , 1981.
//
6
Ci y Re o der /
Thereupon, a proposed addition to Section 9 of the
Authorizing Resolution for the Curb and Gutter Special Improve-
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ment District Extension #38-668, #38-668-1 and #38-668-2 dated
May 13 , 1980, which addition will establish a procedure whereby
partial releases from the special improvement district lien may
be granted upon the payment of specified amounts of money into
the special improvement district bond fund, was introduced in
written form by Alice Shearer and was considered in full and in
detail. After due discussion to the matters contained therein,
a call for a vote of approval thereof was made by Alice Shearer
and seconded by Sydney Fonnesbeck, whereupon the resolution was
approved and adopted by the following vote.
Aye: Palmer DePaulis
Alice Shearer
Sydney Fonnesbeck
Grant Mabey
Ronald J. Whitehead
Ione M. Davis
Edward W. Parker
Nay: None
At the conclusion of the meeting the Resolution was
signed by Palmer DePaulis, attested by the City Recorder and
recorded in the official records of Salt Lake City. The
Resolution is as follows:
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RESOLUTION NO. 75 ADOPTED: September 1, 1981
A RESOLUTION OF THE CITY COUNCIL OF SALT
LAKE CITY, UTAh, ADDING A PROCEDURE WHEREBY
PARTIAL RELEASES FROM THE ASSESSMENT LIEN OF
THE CURB AND GUTTER SPECIAL IMPROVEMENT
DISTRICT EXTENSION #38-668 , #38-668-1, AND
#38-668-2 MAY BE GRANTED UPON THE PAYMENT OF
SPECIFIED AMOUNTS OF MONEY INTO The; BOND AND
INTEREST FUND OF SALT LAKE CITY, SALT LAKE
COUNTY, CURB AND GUTTER SPECIAL IMPROVEMMENT
DISTRICT EXTENSION #38-668, #38-668-1 AND
#38-668-2.
'WHEREAS , the payment of certain special improvement
bonds of Salt Lake City, Utah, which were authorized and issued
pursuant to that certain Salt Lake City Resolution adopted May
13 , 1980 , for the Curb and Gutter Special Improvement District,
Extension #36-668 , #36-668-1 , and #38-668-2 , is secured by a
lien assessed and levied on all real property within said
Improvement District; and
WHEREAS , the original Bond Resolution does not provide
for any partial release of the lien levied upon the real prop-
erty within the prescribed boundaries of the Curb and Gutter
Special Improvement District Extension #38-668 , #38-668-1 and
#38-668-2, upon the payment of the amount of the assessment
levied against individual parcels of real property within said
Improvement District; and
WHEREAS , it was the original understanding of the
property owners at the time the Curb and Gutter Special
Improvement District Extension #38-668, #38-668-1, and
#38-668-2 was created that partial releases would be granted
upon palment of the full amount of the assessment levied
against any individual parcels; and
WHEREAS , all of the property owners within the Special
Improvement District desire the right to have partial releases
as set forth herein; and
WHEREAS, to date each and every Bond as it has
matured, along with all interest accrued thereon, has been
redeemed timely by the parties holding title to the property
within the boundaries of the Curb and Gutter Special Improve-
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ment District Extension #38-668 , #38-668-1 and #38-668-2 upon
which the special improvement tax has been assessed; and
WHEREAS, the fair-market value of each and every par-
cel of land within the boundaries of the Curb and Gutter Spe-
cial Improvement District Extension #38-668, #38-668-1 and
#38-668-2 greatly exceeds the amount of the special improvement
tax assessed upon each parcel, resulting in more than adequate
security for the Bondholders; and
WHEREAS , it is a restraint on the free transferability
of real property not to release the special improvement tax
lien on portions of said real property when full payment (prin-
cipal and interest ) is made of the amount of the assessment
levied against said portions.
NOW THEREFORE, Be It Resolved by the City Council of
Salt Lake City, Salt Lake County, Utah, that Section 9 of the
Salt Lake City Resolution adopted May 13 , 1980 , for the Curb
and Gutter Special Improvement District, Extension #38-668,
#38-668-1 , and #38-668-2 , is hereby amended by adding the
following paragraph to the end of the present Section 9 and
before the beginning of Section 10:
Notwithstanding the foregoing , the lien
levied against every lot or tract of land in Salt
Lake City , Salt Lake County, Curb and Gutter
Special Improvement District Extension #38-668,
#38-668-1 and #38-668-2, for the payment of the
assessed special improvement district tax shall
be released, at any time, upon the remittance
into the Bond and Interest Fund of Salt Lake
City, Salt Lake County, Curb and Gutter Special
Improvement District Extension #38-668, #38-668-1
and # 38-668-2, (the "Fund" ) of an amount per
front foot calculated as follows:
(TA - AP) = Amount of Remittance into
(A - AR) Fund for each one (1 ) front
foot of land released
Where:
TA = Total Curb and Gutter Special
Improvement District Extension #38-668,
#38-668-1 and #38-668-2 tax assessment
of the property owner;
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•
AP = Amount of total Curb and Gutter
Special Improvement District Extension
#38-668, #38-668-1 and #38-668-2 tax
assessment of the property owner paid
to present date;
A = Total assessed front footage of the
property owner within the boundaries of
the Curb and Gutter Special Improvement
District Extension #38-668, #38-668-1
and #38-668-2 ;
AR = Number of front footage of the
property owner within the boundaries of
the Curb and Gutter Special Improvement
District Extension #38-668 , #38-668-1,
and #38-668-2 released from the date of
the assessment lien to the present date.
Upon the remittance into the Fund of the requi-
site monies, as determined by the formula above,
Salt Lake City shall prepare or cause to be pre-
pared according to their normal special improve-
ment district release procedures, a release from
the Curb and Gutter Special Improvement District
Extension #38-668, #38-668-1 and #38-668-2
assessment and lien of the front footage to be
released from the assessment lien, which front
footage shall be designated by the property owner
entitled to such release.
Subject to the consent of substantially all of the
Bondholders , in such form and manner as is acceptable to the
Salt Lake City Attorney, and such other consents as the Salt
Lake City Attorney may require, the proposed addition to Sec-
tion 9 of the Bond Authorizing Resolution dated May 13 , 1980 ,
as specified above, will become effective.
Approved and adopted this 1st day of September , 1981.
(CITY SEAL) CITY COUNCIL OF
SALT LAKE CITY, UTAH
By 444.11r4& 41-4-;
ATTEST:
) C-1(,-a' , '17 li
Salt Lake ty Recorder
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•
STATE OF UTAH
: ss.
COUNTY OF SALT LAKE
I , Kathryn Marshall, the duly qualified and acting
City Recorder of Salt Lake City, Salt Lake County, Utah, do
hereby certify , according tc the records of said City in my
official possession, that the above and foregoing is a true and
correct copy of the minutes of a public meeting of the City
Council of Salt Lake City, Utah, held on September 1 , 1981,
insofar as said minutes pertain to the matters therein set out ,
and attached hereto is a true and correct copy of a resolution
adopted at said meetings.
IN 14ITLESS INHLhLOF , I have hereunto subscribed my
official signature and impressed hereon the seal of Salt Lake
City, Utah, this 1st day of September , 1981 .
;/
Salt La e City Recorder
(CITY SEAL)
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EXHIBIT A
NOTICE OF REGULAR MEETING
OF THE
CITY COUNCIL OF
SALT LAKE CITY, UTAH
PUBLIC NOTICE is hereby given that the City Council of
Salt Lake City, Utah, will hold a regular meeting at its regu-
lar place of meeting in Salt Lake City , Utah, commencing at
5: 00 p.m. , on Tuesday, the 1st day of September , 1981.
At the meeting a matter concerning the addition of a
procedure for the granting of partial releases from a Special
ILprover,ment District assessment lien will be considered as an
item of the agenda of said meeting, as follows:
A Resolution of the City Council of Salt
Lake City, Utah, adding a procedure whereby
partial releases from the assessment lien of
the Curb and Gutter Special Improvement
District Extension #38-668, #38-668-1 , and
#38-668-2 may be granted upon the payment of
specified amounts of money into the Bond and
Interest Fund of Salt Lake City, Salt Lake
County, Curb and Gutter Special Improvement
District Extension #36-668 , #38-668-1 , and
#38-668-2 .
CITY COUNCIL OF SALT LAKE
CITY, SALT LAKE COUNTY, UTAH
y ` t al La a City Recorder
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