9 of 1943 - A resolution authorizing the City Auditor to cancel the $10,000 in bonds purchased and further autho REMARKS: Resolution No. 4 jl
By Commissioner McConkie I,
Authorizing the City Auditor
to cancel the 410,000 in bonds
purchased and further authoriz-
ing him to pay to the Bond
Sinking Fund the sum of $212.50
which was set up in the 1943-
budget as bond interest and to
further set up in the Sta.&
Gen. Acct. the sum of $440.50
for the years of 1944 to
1950 both incl. and to pay
said amounts to the Bond Sinking
Fund.
Piiimtedb the Nord oF gliapiatior
AND PASSED
MAR 14 71943 ti
,_
I move that the resolution_be adopted.
Keyser
Matheson �
McConkie _ -
"�edes moo- - - -
Mr. Chairman - - - RESOLUTION
Result
WHEREAS, Salt Lake City has purchased $10,000.00 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
WHEREAS, 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 to cancel the $10,000.00
in bonds purchased as aforementioned; and that he is further author-
ized and directed to pay to the Bond Sinking Fund $212.50, which
was set up in the 1943 budget as bond interest to meet the coupons
of the $10,000.00 of bonds purchased; and that the City Auditor is
further authorized and directed to set up in the Statutory and Genera]
Account the sum of $440.50 for the years of 1944 to 1950, both in-
clusive, and to pay said amounts tp JBox}d_ Sinking Fund.
`y./// `-
Passed by the Board of Commissioners of Salt Lake City,
Utah, this/lay of , 943i
/r.
City Recorder