8 of 1923 - A resolution directing Mayor and City Recorder to execute notes to the Progress Company for water ri[ *i v _ • .;mot p /„ a
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L fp'�17trnissionr ._2de_sl a n.-__--
�. Di nt ng the Mayor and K:
i
ity.lecorder to execute note
r
H€'p to the Progress Co. for water
rights below the mouth of Sid
yet' Cottonwood Canyon.
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AU G 2-1923
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ROLL CALL
VOTING 1 AYE NAY Salt Lake City,Utah, AucLnst , 192-3+
Barnes
I move that the resolution be adopted.
Burton /
Green
Stewart
r
Mr.Chairman
Result -_ RESOLUTION
^; in order to take the waters of
Big Cott.2. conduit of Salt Lake City and its
intake Coiton,lood Canyon to acquire the power
and s,rplu`. c:"' ,: ogress Company in and to certain of the
waters of creek, and
WEEL'd13, negotiations uve been pending for several months
with the Progress Cor.:yaai looking to the acquiring of their water
rights which culminated in an agreement between the mayor and com-
missioners and the representatives of the Progress Company upon the
basis of payment of Thirty-three Thousand Five Hundred (033,500.00)
Dollars by the city to the Progress Company for all of its water
rights necessary to be acquired in order that the city might take
into its conduit the waters of Big Cottonwood Creek, said sum payable
as follows:
Eight Thousand Five Hundred ( 8,500.00) Dollars cash upon
receipt of warranty deed from said company:
Eight Thousand (08,000.00) Dollars payable July 15, 1924:
Eight Thousand (08,000.00) Dollars payable July 15, 1925:
and
I?ine Thousand (09,000.00) Dollars payable July 16, 1926,
said deferred payments to draw interest at the rate of six (6)
per cent per annum and be evidenced by negotiable promissory notes, and
HERELiS, Said company has executed and delivered its
warranty deed to said water rights.
NOW TUREFOPE BE IT RESOLVED that said deed be accepted
by the city; that Eight Thousand Five Hundred ("8,500.00) Dollars
be appropriated for payment to the Progress Company and that the
Mayor and city recorder be, and they are, hereby directed to ex-
ayable`�
ecute and deliver to the Progress Company promissory notes/On or
before the following dates:
One note for Eight Thousand ( 8,000.00) Dollars, payable
July 15, 1924:
One note for Eight Thousand ('S8,000.00) Dollars, payable
July 15, 1925:
One note for Pine Thousand (59,000.00) dollars, payable
July 15, 1926, each bearing interest at the rate of six (6) per
cent per annum payable quarterly, said note to be substantially
in the following form:
Salt Lake City, Utah.
July
SALT LiL E CITY, a municipal corporation, in the County
of Salt Lake :aid State of Utah, for value received hereby promises
to pay to THE PROGRESS CQ::r_dTY, or order, the sum of
( ) Dollars, payable at the office of the
02 beso:::e
City Treasurer of Salt Lohe City, on/the day of ,
19_, together with interest at the rate of six per cent
(6%) per annum from date until paid, payable quarterly.
IP '.';W''iESS 71E 0F, Salt Lake City has caused this
note to be si_led ly its Ilayor, its corporate seal to be hereunto
affixed and attested by its City Recorder, this of
, D., 19
Sim`_' L:E CITY,
By
ATTEST: ..i ayor
City :recorder. - 2 -
and,
BE IC FIMTH S: RESOLVED that in the opinion of the
Board of Commissioners it is necessary to the peace, health and
safety of the inhabitants of Salt Lake City that this resolution
take effect immediately.
This resolution shall take effect upon passage. .
Passed by tho board of Cor; at-!one:.rs of Salt Lobe
City, Utah, this lk-T,"lay of ` ..1).,C�, , .•. ➢., 192S.
City Sec rde r.
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