Show AN providing for the issuing and disposing of municipal bonds provo city a municipal corporation free from debts and obligations of every is in need of a of waterworks water works to more effectually provide for the health and convenience of its inhabitants and the security ot property pro party and the money in the tras nry of pr i city is insufficient and tho current ruvaine to amriet the expenditures necessary tor the construction ot aard of waterworks water works and it is deemed for the best goodof Provo city and its tants to borrow the necessary sum to establish sad system of waterworks water works and for purpose to issue a bories of one hundred aad twenty five bonds of the denomination of one thousand dollars each pursuant to an acton the legislative assembly of the territory of utah entitled an act providing for the of cities ap proved march 1888 therefore SEC 1 be it ordained by tha city council of provo city that for the purposes above expressed said corporation po ration shall issue a series of one hundred and twenty litho graphed coupon bonds of the denom i nafrio n ot ona thousand doll ars bach the principal payable at the office of the any treasurer of provo city in U S gold coin swanty years after the date thereof redeemable how aver at the option at said city at any time after ten years from the date of their issue said bonds to bear date 0 oct with bater mgt from the date thereof at the rate of seven per cent per annaia ani 1 payable senai annually thereafter on 11 he first days of april and october in each year at the first national bank of provo in provo city or its successors ces sors or at the chemical national bank of new york in nw york city or its successors at the option of the holder on presentation and surrender of the as they become due in lawful money of the united states and eaid boada shall he exempt from taxation by said city i SEC 2 said bonds shall be numbered from cue 1 to one hundred and twenty fi CP indu sive and apy sa b d ily ri rd r d in anra r iu rj a biuk kept for that city shall ba signed by the mayor and treasurer of said city and before the issuance of any of them the corporate anal shall thereunto be affixed duly attested by the recorder of said city the faith and credit of provo city is hereby pledged for the payment of aid bonds and the interest accruing therein as herein provided SEC 3 coupons for the dball be attached 10 edtih bond BO that they may be removed without injury or mutilation to the bond they shall be consecutively numbered from one 1 to forty 40 both inclusive and bear the same number as the bond to chich bey are attached also the arup r dait x of payment named therein and the interest expressed in aid bond SEC 4 said bonds shall be sold only upon tn order of the city council and in such lots and on adueh berrus as shall be designated by baid council the seal of the corporation shall not be impressed upon taid boods butil the time of sale thereof and then the presence of the mayor treasurer and committee on finance of baid city provided the order of selling and baid bonds may be modified or changed by order of the city council SEC 5 whenever Wn enever the city council shall have arranged to make A loan and issue or any part of then said council shall direct the treasurer of said city to advertise for the sale of the bonds to be issued as aforesaid by can a attics of said sale to be published for a period of at least fifteen days in iwo daily newspapers published in salt luke city hsuch notices ceball specify the amount of to be abold the rate of interest tha place altay and hoar ot leand Ba baleanu that bids will ba received by sad treasurer for tha purchase of said bonda within fifteen days from the expiration of said publication in saia papers at ibe time and place named in laid noti ses the said treasurer together with tha committee on of aard city council shall kopea ail bids received by said treasurer and they shall avard the purchase of said bunda or the portion offered for sale 10 the highest beddor or bidders there fur provided that said treasurer and said committee shall haye the right in behalf of said city to re jact any and all bida and provided further that they may in their discretion refuse to make any award af said bonds unless sufficient security ahall be burnished by the said bidder or bidders for the i compliance with tace of his or ciril cir il for the urpo rie of provid tig for the payment of iha interest on aid bonds as abe same abail mccoma aue abe sum of eight seven lion dred and fifty dollars in 0 much thereof as may be neco ia hereby appropriated from th general fund of provo city annually id be drawn on the warrant of ane kec arder admi aumi annually to meet such in erest on he first days if april and october of each feer ar sac 7 at the expiration of ten the issuance of aard bonds awre dball be set apart and is hereby out ot the general jund ft be chiy annually the sum of welt liun nd and five hendred dolla po b drawn on the wen act of adiv 0 o pay ahe principal of did boubis a aba same shall fall dut ir be called lor as provided in ahr ordinance baid amount ahall be beld and placed by cho treasurer in annd in b known as tb tion fundor aid bonds provided Pro Tided that r of this section shall noi be construed to prohibit the acty council from making other provision pro 9 tor ane redemption of any or all ot aid bonds after the expiration of tea years sac 8 whenever after expiration pi ration of ten years from the ane of issuance of any bonda boder h s ordinance there is available as provided in the preceding section the sum of twelve thousand and tive hundred dollars or more it shall be the duty of the treasurer to advertise as in adver the sale of said bonds which advertisement bhagi th amount in the said redemption fund and the number of bond numbering ahem in the order of their issuance commencing a ohp highest number then outa which said go mil set apart to pay and discharge and the daie when they will be paid and if such bonds so numbered in such advertisement shall not be presented for pay went and cancellation at the expiration of the debt m in the publication then such fund shall remain in the treasury to discharge anch bonds whenever presented but they ceball draw no interest after the ex pi ration of such publication becore any such bonds shall be paid they shall bi presented to the recorder who shall endorse thereon the amount due and shall write across the face of said bonds the date of its surrender and the name of the person surrendering the Bame the treasurer shall within ten days after the ealo of any bonds file with the a statement therein th number date rate of interest amount of sale and when and to whom payable and the said Beo order shall keep a record of all bonds issued and disposed of by the treasurer showing the same facts as shown by the record kept by the treasurer Trea aloo when pre for redemption the amount due and portion surrendering passed september 29 A D 1891 JOHN E BOOTH mayor of peoro city attus tl M city recorder or UTAH UTAH catt L J M recorder in aid for provo city county and territory of utah hereby certify eliat the foregoing is a full true and correct copy of an ordinance for the issuing and 0 municipal bonds passed by the city council of provo city 29 A D 1891 in testimony whereof I 1 hare hereunto affixed the seal of SEAL provo city this ad day of october A D 1891 J M city recorder |