9 of 1919 - A resolution directing the advertisement notice calling for bids for the purchase of $1,000,000.00 o REMARKS:
Resolution No:. .
By Commissioner lerry.
Directing the advertisement,
notice calling for bids for
the purchase of $1,000.000.00
I i
of the $2,000,000.00 bond Jesup ?,
• authorized February 25th, 1919.'
•
BEAD AND ADOPTED
MAR 211919
. ,
' l'‘
ROLL CALL
VOTING AYE {JAY
Salt Lake City,Utah, r" Q� 19 ,191
Crabbe
Green ._.- ' I move that the resolution be adopted.
Neslen
41/7/1
Scheid
Mr. Chairman
RESOLUTION
Result —
BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF SALT LAKE
CITY, UTAH:
THAT WHEREAS at a speoial election duly held in Salt Lake
City, Utah, on Tuesday the 25th day of February, 1919, there was
submitted to the qualified electors of said City who had paid a
property tax in the year preceding said election, among others,
the following propositions to-wit:
1. The question of incurring a bonded indebtedness to the
amount of 4540,000.00 for water supply conduit from the mouth of
Parley's Canyon to the Northeast Bench and various feeder mains
throughout the distributing system, water main stubs and lowering
water mains.
2. The question of incurring a bonded indebtedness to the
amount of 4250,000.00 for aoquiring water rights in canyons and
creeks adjacent to the city and other sources of water supply by
exchange or purchase, or both, and the development of local
sources of supply.
3. The question of incurring a bonded indebtedness to the
amount of 4196,000.00 for the construction of storm sewers.
4. The question of incurring a bonded indebtedness to the
amount of 4200,000.00 for City's portion of street paving.
5. The question of incurring a bonded indebtedness to the
amount of 4200,000.00 for municipal bath house and improvement
of grounds at the Warm Springs.
-1-
I .
6. The question of incurring a bonded indebtedness to the
amount of $132,000.00 for paving,buildings, and other improve-
ments at Liberty Park and improving new parks and boulevards, an
WHEREAS, a majority of the qualified eleotors of said City,
voting at said election, voted in favor of each and every
Iproposition submitted as aforesaid, which result was duly ascer-
IItained and declared by the Board of Commissioners of said city
sitting as a Board of Canvassers on Monday the 3rd day of March,
1919, and
WHEREAS, it is deemed expedient at this time to issue and
(sell only $1,000,000.00 of said bonds so voted, of which sum
there shall be issued and sold $540,000.00, the entire amount of
water conduit bonds to be known as Water Bonds Series G; also
$14,000.00 for the acquiring of water rights in canyons and
creeks, to be known as Water Bonds Series H; also $196,000.00,
(the entire amount of storm sewer bonds to be known as Sewer Bond
1Series G; also $100,000.00 for City's portion of Street paving,
Ito be known as Feting Bonds Series No. 11; also $100,000.00 for
(municipal Bath House and grounds, to be known as Bath House
(Bonds Series No. 12; and *50,000.00 for parks and boulevards, t
be known as P&rk Bonds Series No. 13.
NOW THEREFORE,BE IT RESOLVED, that the Mayor and City
Recorder of this City be, and they are hereby authorized,
empowered and directed to advertise for bids for the purchase o
*540,000.00 Water Bonds Series G; $14,000.00 Water Bonds Series
H; $196,000.00 atm= Sewer Bonds Series G; $100,000.00 Paving
Bonds Series No. 11; $100,000.00 B:_th House Bonds Series No. 12
and $60,000.00 Park Bonds Series No. 13.
Said notice to bidders shall be published daily for a
period of ten days in the following papers: The Salt Lake
Herald and the Deseret Evening News, daily papers of general
circulation, published in Salt Lake City, Utah; and also in
-2-
five issues of the Daily Bond Buyer, a paper Of general circula-
tion in financial quarters, and published in New York City, New
York.
Said notice shall describe generally the proposed bonds,
and.shall further require that bids upon said bonds shall be
accompanied by a certified check in the sum of not less than one
per cent par value of the bonds bid for, and all of said checks
shall be payable to the order of the Treasurer of Salt Lake City,
as a guarantee of good faith on the part of the bidders, and to
reimburse said City for its loss and expense in this behalf in
lease the bidder shall not perform his bid after acceptance there f.
That said City reserves the right to reject any and all
bids, and to accept any bid or bids deemed advantageous to said
City, and that all bids shall be sealed and shall be placed in
the hands of the City Recorder of Salt Lake City on or before
10 o'clock A.. M. on the 3rd day of April, 1919, and said bids shall
be opened at the meeting of the Board of Commissioners, 10 o'clock A.
M.April 3, 1 19. Said notice shall be in substantially the following form:
NOTICE OF BOND SAT,N
4l,000,000.00
SALT LAKE CITY, UTAH.
Notice is hereby given that Salt Lake City, Utah, proposes
Ito issue and sell the following bonds, to-wit:
4540,000.00 Water Bonds Series G;
14,000.00 Water Bonds Series H;
196,000.00 Sewer Bonds Series G;
4100,000.00 Paving Bonds Series No. 11;
4100,000.00 Bath House Bonds Series No. 12p
4 50,000.00 Park Bonds Series No. 13;
as authorized at an election duly held on Tuesday the 25th day
of February, 1919. All of said bonds shall be dated the 1st
1
i day of April, 1919.
-3-
Said Water Bonds Series G, said Water Bonds Series H, and
Sewer Bonds Series G, shall be payable in twenty years after
date, with option of payment after ten years.
Said Paving Bonds Series Nor 11, said Bath House Bonds
Series No. 12, and said Park Bonds Series No. 13, shall be pay-
able serially as follows:
Paving Bonds Series No. 11, $5,000.00 payable one yea
after date, and 45,000.00 each succeeding year thereafter
for the full period of twenty years.
Bath House Bonds Series No. 12, $5,000.00 payable one
year after date, and $5,000.00 each succeeding year there-
after for the full period of twenty years.
Park Bonds Series No. 13, $2,000.00 payable one year
after date, $2,000.00 each succeeding year thereafter up
to and including the nineteenth year, and $12,000.00 twent
years after date.
All bids must be sealed and envelope marked on outside "Bi.
on City Bonds", and must be placed in the hands of the City Re-
1 corder of Salt Lake City on or before 10 o'clock A. M. of the
13rd day of April, 1919. Each bid must be accompanied by a
( certified check in a sum of not less than one per cant par valu:
of the bonds bid for, and all such checks shall be payable to
' the order of the Treasurer of Salt Lake City, as a guarantee of
good faith on the part of the bidders, and to reimburse said
city for its loss and expense in this behalf in case the bidder
shall not er orm is bid after ate tance thereof. The City r •serv•
es the rigpht fto react any and all Side.
o' .t A e... L. .. . 'e _., ._ 'f. 0": :.s
10o'ooc . . pr , . .
All of said bonds shall bear interest at the rate of five
per Dent per annum, payable semi-annually; both principal and
I
-4-
I
interest payable at some bank in New York City. This notice is
given pursuant to a resolution of the Board of Commissioners of
Salt Lake City, Utah, passed the Z.� day of March, 1919.
G
Passed by the
Board of Commissioners of Salt Lake City,
Utah, March �\ ," , 1919.
Mayo r
C y a8 order.
II