8 of 1943 - A resolution authorizing the City Auditor to cancel the $300,000 of bonds purchased and authorizing REMARKS: Resolution No. -0 1
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'i By Commissioner McCopkie
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Authorizing the City Auditor tb
cancel the 4300,000 of bonds
purchased and authorizing the
City Auditor to pay to the
Bond Sinking Fund the sum of 11
$6,375.00 which was set up in II
the 1943 budget as bond interest
j etc.
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1
PAsnledb the Bond al0 iudede j
AND PASSED 11.
FEB.213;1943
CI Y RSOORL3A II
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I move that the resolution be adopted., 7
Keyser (
Matheson
McConkie
`aes co _ - - -
Mr.Chairman - - - RESOLUTION
Result
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WHEREAS, Salt Lake City has purchased $300,000.00 of the
outstanding bonds of Salt Lake City. This purchase was made before
the maturity of the bonds and a premium was paid to secure their
purchase; however at a saving to the City when considering the un-
• earned interest on the bonds; and
ViHEREAS, said bonds purchased were paid from the Bond
Sinking Fund and in order to reimburse the fund for premium paid
it will be necessary that a charge in lieu of interest be set up
to be paid to the Bond Sinking Fund.
NOW, THEREFORE, BE IT RESOLVED that the City Auditor be
and he hereby is authorized and directed tc cancel the $300,000.00
in bonds purchased as aforementioned; and that he is further author-
ized and directed to pay to the Bond Sinking Fund $6,375.00, which
was set up in the 1943 budget as bond interest to meet the coupons
on the $$300,000.00 of bonds purchased; and that the City Auditor is
further authorized and directed to set up in the Statutory and General
Account the sum of $13,038.09 for the years of 1944 to 1950, both
inclusive, and to pay said amounts to the Bond Sinking Fund.
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Passed bythe Board of Commissioners of Salt Lake City,
Utah, this 7 a P,day of i 9 1943.
• 'Mayor.
City Recorder.