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93 of 1978 - Resolution of Commendation to Philip Morton for developing the Morton Meadows Subdivision. ROLL CALL / VOTING Aye Nay Salt Lake City,Utah, December 19 ,19 78 Mr.Chairman Agree ✓ +k, ✓/ I move that the Resolution be adopted. Greener Hall �—�`— / .�. ._ Phillips ✓ ' RESOL Olv OF COMMENDATION Result iof/ WHEREAS, Mr. Phillip Morton is and has been a developer and financier in Salt Lake City for many years and is one of the out- standing citizens of the City who is presently developing a subdivision called Morton Meadows within the limits of the City; and WHEREAS, on the 7th day of December, 1978, he announced that because of favorable circumstances in which he found himself, part of which was contributed to by Salt Lake City, he and his company intend to sell most of the homes in Morton Meadows Subdivision at an interest rate of eight and seven-eigths percent (8 7/8%) rather than at ,a considerably higher race available to him and required by other lenders in the community; and WHEREAS, Mr. Morton's reasons for charging the lesser interest rate is to benefit those who desire to live in the City, particularly younger people who desire to find residences within the City at an economically feasible price and interest rate,and to combat the high rate of interest charged locally, in the State and Nationally for similar loans; and WHEREAS, the Board of Salt Lake City Commissioners believe that such an attitude and act on the part of Mr. Morton is highly commendable. NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners of Salt Lake City, and the Board does hereby express to Mr. Phillip Morton its commendation and congratulations for his high ideals, outstanding attitude and service to the community. PASSED BY THE BOARD OF COMMISSIONERS OF SALT LAKE CITY, UTAH, t, 19th day !I- euber , 197_. pr Milliki eaMMI =I• ER ,-CO SSIONER / (J v Resolution No. 93 41 4.4tgraz COMM141OMQ Resolution of Commendation to Philip Morton Presented U the Bard ef GIBeissanaS AND PASSED DEC191978 lGd' air moat, • it NI III