8 of 1922 - A resolution of intention to establish Lighting District No. 7, comprising both sides of 3rd South f REMARKS:
Resolution No.
By Commissioner Ne s].on.
11
Resolution of intention to
establish Lighting_Diztrict #7;
ootiprising both sides of 3rd S .
H
from West Temnle to 2.nd Et
al.s0 Lighting Dist, No. 8,
comprisinr, both sides of 4th S .
Main to State Sts.
ROLL CALL
VOTING AYE NAY Salt Lake City,Utah,..,_._.37.]1],y__..31,
Barnes
I move that the resolution be adopted.
Burton
Green
Stewart
Mr. Chairman
Result _I RESOLUTION
WHEREAS, The Board of Commissioners of Salt Lake City, Utah,
did, on the 16th day of August, 1920, duly adopt a resolution of inten-
tion to establish Lighting District No. 7, in said pity comprising
both sides of 3d South street from West Temple to 2nd East streets,
and Lighting District No. 8, in said pity comprising both sides of
4th South street, Main to State streets in said city and to improve
said distric t3 by constructing and erecting ornamental iron standards
and ornamental luminous arc lamps for the purpose of lighting said
streetq and
WHEREAS, said notioe of intention was duly published as re-
quired by law and all proceedings had, and taken, as provided by law
to give said Board of Commissioners jurisdiction to proceed with said
improvement and said Board of Commissioners did acquire jurisdiction
to proceed with and complete said improvement and levy an assessment
upon the property abutting and adjacent to said street for the cost
of said improvement whereupon a contract was duly made and entered
into by and between Salt Lake City and the Utah Power & Light Company,
a corporation, for the oonstructi.on and erection of said lighting sys-
tem, and
WHEREAS, said work was duly completed and on the 24th day of
January, 1922, an ordinance was duly passed by the Board of Commieeion-
era of Salt Lake City and published as required by law which said
ordinance provided for and made the levy of the assessment for the cost
of said improvement upon the property in said districla abutting and
adjacent to said streeiseand benefited by said improvement, and
WHEREAS, on the 24th day of January, 1922, a motion was
adopted by said Board of Commissioners wherein the city auditor was
instructed to issue apeoial tax warrants to said contractor in
payment of the amount due under said contract, and
WHEREAS, the contractor has notified the Board of Com-
missioners of its desire that said special improvement bonds pay-
able serially be issued to it instead of special tax warrants.
NOW THEREFORE BE IT RESOLVED that the city auditor be,
and he is hereby directed to issue and deliver to Utah Power &
Light Company, a corporation, in payment of all amounts due by
virtue of its contract for construction of lighting system in said
district% special improvement bonds with interest coupons attached
in substantially the fainting form, to-wit:-
STATE OF UTAH
COUNTY OF SALT LAKE
SALT LAKE CITY
SPECIAL IMPROVEMENT BOND
LIGHTING DISTRICT
(#7) (#8)
No.
KNOW ALL MEN BY THESE PRESENTS:
That Salt Lake City, in the County of Salt Lake, State
of Utah, a municipal corporation duly organised and existing, for
value received hereby promises-, out of funds available for the
purpose, as hereinafter set forth, to pay to bearer the sum of
in lawful money of the
• Hnited States of America, with interest thereon at the rate of six
per cent per annum, payable annually in like money on the day
of , in each year, upon the presentation and surrender
of the interest coupons hereto attached both principal and inter-
est being payable at the offios of the City Treasurer, Salt Lake
City, Utah, In event of failure to pay this bond when due, it
shall draw interest at the rate of eight per cent per annum until
paid.
This bond is drawn upon the City Treasurer against the
special tax levied upon the property included in Lighting District;
Nos. U^+A B)of said city, to pay the cost of installing lighting
equipment in said lighting district..., under, by virtue of and in
full conformity with the Constitution and laws of the State of Utah,
particularly Chapters 14, 16 and 17 of Title 16 of the Compiled
Laws of Utah, 1917, Chapter 9, Laws of Utah, 1921 and all acts sup-
plemental thereto and amendatory thereof and also ordinances of
said city duly passed and made a law thereof prior to the issuance
hereof.
- 2 -
A special improvement guarantee fund has been created by
said city as provided in Chapter 9, Laws of Utah, 1921, and said
city agrees that at all times during the life of this bond and
until payment thereof in fall, said fund shall be at all times main-
tained. This bond is payable exclusively out of said special tax
and the said spacial improvement guarantee fund, and neither said
city nor any officer thereof is holden for the payment thereof other-
wise.
It is hereby certified, recited and declared that all acts,
conditions.and things essential to the validity of this: bond exist,
have happened and have been done in due time, form and manner as re-
quired by law, and that the total issue of bonds of said city for said
Lighting District, inoluding this bond, does not exceed the taxes
levied to cover the cost of said improvement and that all of said
taxes have been lawfully levied.
IN WITNESS WHEREOF, Salt Lake City, Utah, has caused this
bond to be signed by its Mayor, and attested by its City Recorder,
and drawn by its City Auditor on its Treasurer, and the annexed
coupons to bear the fac-simile signature of said CitycAuditor, and
this bond to be dated the " day of . , 1922.
Mayor
ATTEST:
City Recorder.
City Auditor.
(FORM OF COUPON)
No. $ •
On the day of , 19 , Salt Lake City, Utah,
will pay to bearer, at the office of the CT�y Treasurer, Salt Lake
City, Utah, the sum of $ , lawful money of the United
States of America, being one year's interest due on that date on its
Lighting District No. , bond, dated 19 No. this coupon
being payable exclusively from the funds descr ,ed in sal ,bonds.
City auditor.
That the Mayor and City Recorder, be, and they are hereby
authorized and directed to sign and attest said bonds, respectively,
and that the city recorder affix the official seal of Salt Lake City
thereto; that the City Auditor be, and he is hereby directed to certify
said bonds in the following language:
"I hereby certify that this bond is issued
.within the lawful debt limit of Salt Lake
City, Utah, and is issued according to law.
- 3 „ City Auditor"
That said bonds be issued serially, one-third of the
total issue to become due one year from date of issue, one-third
of the total issue to become due two years from date of issue and
one-third of the total issue to become due three years from date
of issue.
In the opinion of the Board of Commissioners, it is
necessary for the peace, health and safety of the inhabitants of
Salt Lake City that this resolution become effect at once.
This resolution shall tale effect immediately.
- •
Passed by the Board of Commissioners this 3\day of
A. D., 1922.
ayor
'-'4,,/,'/LP
City keno der.
CHIEF DEPUTY
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