HomeMy WebLinkAbout9 of 1932 - A resolution authorizing the issuance of $25,000.00 of Salt Lake City Sewer Bonds, Series of Decembe REMARKS:
Resolution No.
j
By Commissioner
Marcus
rt
Authorizing the issuance 1
of $25,000.00 of Salt Lake City
•. Sewer Bonds,Series of Dec. 15,
4
1931, being bonds Nos. 101 to
,' 125 incl.,' bearing interest at 1
4 3/4% per annum and directing 1
" the City Treas. to deliver saidi.
Li
bonds to the order of First Sec '}
Co. and Edw. L.Burton & Co.
q1
Pr EITIOd to the Board of Commisetoq i
AND PASSED
MAR 31932
"%art.• `
I,s
Ci1Ty REC(JRUIen I"'
ROLL CALL
Salt Lake City,Utah, March 3 2
193
VOTING AYE N/AY
Finch I move that resolution No by Mr Mayor Marcus
Keyser be adopted.
Knight
Lake
Mr.Chairman - - -
Mayor
Result
MARCH 8th, 1952 at •J0:de lt.,M.
)41.0d $th,-.1952, Page'
H Tha.Boa67-
rd. of Qommissioners of Salt Lake City met in regular session at /Di
Pad,
Mayor Marcus in-•the chair.
On roll Call the folkoiting,Membera were pressat: -Harry L. Finch,: Commissioner
i,of Parks & Public property;i 'Geprge D. Keyser„ 0omm;dsioner of Water Supgi $v
I Waterworks; 'Johrib4. gnight, 'Commisaioner of Public Safety; Joseph H. Lake,
Commissioner,of Str1Otss & Pt bilc Improvements and E�puia,.taarc , CoMmiaaioner
of Pubp.c AEf#r'm& Finange, 6hairmanc
I Mr. Marcus moved'that the;offer of purchase of $50,000.00
Salt Lake City Sewer Bonds for par and interest for 4%.bends datedDecember.
1''150.4: 1D51,,as made by;-fie Fit Security Compaq- and Edward•Z.,,Burton &
1 Company as fiscal agents, be accepted, said bonds to be accompanied by the '
approving opinion of Thomson, Wood and Ueffman of New York City, which motion
carried, all members voting aye.
Resolution No. ]Oby Mayor Marcus. -
•WHFRsAS, by the result of a special election duly called and
• ,held iti Salt Lake City, on Tuesday the 27th day ofOctober,A. D., 1951,'maid
Cii ',.-was authorized and-empowered to issue and sell $600,000.00 Sewer Bonds
storm
fo'� the purpose of supplying said City with a generalaand drainage sewer and
.increasing, enlarging, extending and perfecting the present storm and drainage;.,
`_ sewer.systew.of Salt Lake City,'aaid sewer and sewer system to be owned and
i
f controlled bjr said Municipality, and
1 . WHEREAS, by ordinance duly.passed by...the Board of Commissioners
p
of Salt'Lake City,.'Utah, on,the.16th day of December, 1931, there was
authorized the'issuancerof said $600,000.00 bonds for the purposes aforesaid,
said bOnde .to.bW,issued;ad sold in such amounts and at such times and bearing
' such rates',bf interest as the Board of Commissioners may thereafter determine,.
and ,
I - -
•
•
• WHEREAS, there has heretofore been authorized the issuance
and sale of bonds in the..amount of $200,000.00 of said:issue maturing
December 15th, 1951, being bonds Nos. 401 to 600,,both inclusive, bonds in
the amount of $100,000.00 of'said issue maturing $25,000.00 on December 15th,'•
in each of the Years 1942 to.1945, inclusive, being -bonds'Nos. 1 to 100, both
inclusive, and bonds in the.amount of$25,000.00 of said issue maturing
December 15th, 1946, being bonds Nos. 101'to 125, both inclusive,-and
WHEREAS, it is now necessary to raise additional funds in
the amoUnt.of $50,000.00 for the purpose aforesaid, and.
II WHEREAS, the First Security Company and Edward L. Burton &
Company as agents for Salt Lake City, have sold $50,000,00 of said Bonds
maturing $25,000.00 on December 15th in each of the-years 1947 and 1948,
being bonds Nos. 126 to 175, both inclusive, as authorized in said ordinance
passed on the 16th day of:December. 19$1,„bearing interest at the rate Oft
4% per annum at a'price of par plus accrued interest eatiefactory to this
Board, Whioh offer.is the best and moat adtantageous'offer received for.said
bonds and it is deemed for the best interests of said City that said offer '
be accap't d whichoffer ip in substiptaal.jy tke ,felloudi jform,_to-wit:
Honorable Board of City Commissioners,
I, Salt Lake City,
Utah.
Gentlemen:
As agents Of Salt Lake city we haao.sold for delivery at such
banking point to be designated later, $50,000.OQ Salt. Lake City Sewer Bonds.
bearing interest at the rate of 4 per annum dated.DeceMber 15th, 1931, due
and payable $25,000 on December 15th in each of thetyears.1947 and 1548, as
described in an ordinance passed by the Board'of-.Commissioners of Salt Lake ,
City* on December 16th, 1931, at a price of par,and interest.
The bonds are to be accompanied by,the approving.legal
opinion of Thomson, Wood and Hoffman of New:York City, whose opinion is to be
delivered to,us together with the bonds, which are to be delivered without
undue or unnecessary'delay,
.This offer is for immediate acceptance"only.
-Respectfully subnii.tted,
FIRST SECURITY CO*ANY
EDWARD L. BURTON & CO ?ANY
By L. P. VanV.00rb s ,yiee-President
?..- ; First Security`-CompanY A
!I NOW, THEREFORE, BE It R.BSOLVED that there shalt be issued
q
jr$50,000.00 of said'Salt sake City Sewer Bonds,Series of December 15th, 1931,
being-bond9,.Mom. 126 to 17S,':inc usive, due and payable $23,000.04 on
1 December 13th in each of the years 1947 and 1948, Which bonds shall bear
iinterest at the rate of 44% per annum,and
.BE,ZT FURTHER RESOLV.ED:that the'City Treasurer be and is
hereby-authorized and directed to deliver said bonds to the order 41 said
' . First Security Company and-Edward'L. Burton'& Company;at such banking point
' as they May:designate upon.'receipt of the purchase price.therefor in the sum -
of $50,000.00.
It is necessary in the opinion of the Board of Commissioners
for the peace, health and safety of the inhabitants of-Said Salt 7:Ake City,
} Utah, that this resolution take effect upon its passage.
l This resolution.ahall t of upo ItsItss adoption. ;' -
i Mtyor
II. Adopted by the Board of Commissioners of pa..14 Lake City,
I�utah, March /�; 1952.
Ii
{ 'ty Recbrder
i;' ,:• e^rr,,
II
Mr. Marcus moved, seconded by Commissioner 7'
'that the foregoing-resolution be and the same is hereby adopted, which motion
7 . icarried, on.the following roll call vbte: •
Commissioner Louis Marcus,,Mayor "Aye"
1 Commissioner Jos. H. Lake "Aye"
1 Commissioner Harry L. Finch "Ayes i'
j!• Commissioner Geo. D. Keyser "lye" .
lf Commissioner John M.'Knight.• "Aye"
la On-notion of Commissioner the Board
i •
. of Commissioners adjourned, all members voting aye. 1,
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