OCR Text |
Show An Ordinance. Piovldlng for the issue of bonds of the City of Logan to the amount of $11!,-000 $11!,-000 for the pin pose of providing funds for the completion of the Municipal Klectilc Lighting works of said city: He It ordained by the City Council of Logan City, Utah: Section 1. That for the purpose of piovldlng funds wherewith to complete the Municipal Electric Lightingvvoiks of said city, thcic shall be borrowed on the "cicdlt of said city the sum of $12,000, and to evidence such loan there Is hereby orde'red Issued the negotiable ne-gotiable Inteicst bcailng bonds of said city to said amount. Said bonds shall be designated as "Klectrlc Light Completion Com-pletion Honds;" shall be twelve (12) In number, numbered from 1 to 12 Inclusive, In-clusive, and of the denomination of one thousand dollars ($1,000) each, shall bear date of June 1st, 11)04; shall become due and payable on June 1st, PJ24 or at any time before said date after the cxphatlon of ten (10) yeais from their date at the option of said city; shall bear Interest from their date until paid at the rate of rive (o) per centum per annum, pay able, semiannually semi-annually on the 1st days of December and June In each vear, which interest payments to the date of the maturity of the principal shall be evidenced by proper coupons attached to each bond and both principal and interest shall be payable In gold coin of the United States of Amcilca of the present standard stan-dard of weight and fineness, at the banking house of Rudolph Kleyboltc& Co. in New York City. N. Y. Section 2. That each of said bonds shall be signed bv the Mayor and attested at-tested by the city lecorder of the city of Logan City, and impressed with the coiporate seal of said city, and each of the interested coupons shall be executed by the engraved or lltho-giaplied lltho-giaplied kau soulk slgnatuies of said Maor and City llccoider, and such officers of-ficers aie heicby aiithoiicd and (II-icctcd (II-icctcd to so execute the said bonds and coupons for and In behalf of said city. Section :. That each of said bonds and eacli of the interest coupons thcic-to thcic-to attached shall be in substantially the following foims lespectivel, to-wlt: UN1TP.1) STATKS OF AMKIUCA. STATi: OF UTA II County of Cache 1 C I T Y O F LOG A X C 1 T Y j Klectrlc Light Completion Bond No $1,000. Know all men by these presents: That the City of Logan City, a municipal muni-cipal coipotatlon, in the County of C.icho and Slate of Utah, acknowledges acknowl-edges Itself to owe, and, for value leeched, le-eched, hereby pioinlse.s to pay to bearer the sum of One Thousand Dollars Dol-lars on the liist day of Juno A. I). HUt, 01 at any time bcfoie said date after the expiration of ten (10) yeais fiom the date heicol, at the option of said cit, together with interest on said sum from the date hereof until paid, at the rate of live per centum per annum, pajable semi-annually on the Hist da.vs of December and June In each) car, In accordance with and upon picsentalion and sin lender of the inteicst coupons heieto attached as they scveially become due, both principal and interest pa able in gold" coin ol the United States of America of the piesent standaid of weight and llneuess, at the banking house of I Rudolph KleboIto & Co. in New , York City, New Yoik. And for the prompt pa mcnl of this bond, with Inteicst asafoiesaid, at maturlt, the . full laith and ciedlt of said city are I heieby Irtevocibly pledged. This bond Is Issued to evidence an 1 Indebtedness Inclined by said city for 1 the puipose of providing a poitlon of the funds lequired to eiect works, to be owned and controlled by said city, for suppllng said city with artlllcial lights, In accordance with more than a majority vote HHHHHMHiHBBi of the qualified electors of said city, who paid a property lax therein in the year preceding, voting at a special election duly called and held therein on March 22, 1W4, and In all iepccts In full compliance with the provisions of.Chapter 18 of the Revised Statutes of the State, of Utah for the year 1803 and all acts amendatory theicof or supplemental thereto. And it is heieby ccrtllied and recited recit-ed that all acts, conditions and things required by the constitution and laws of the State of Utah to bo done precedent pre-cedent to and in the Issue of this bond have been properly done, happened and been performed In regular and due form and time as required by law, and that the total Indebtedness of said city, including this bond, does not exceed ex-ceed any constitutional or statutory limitation. In testimony wheieof, the said city of Logan City by its City Council has caused Its corporate seal to be heieto atllxed and this bond to be signed by Its Ma or and attested by Its City Recorder Re-corder this liist day of June, A. D. 1004. Maor Attest: City Rcconlcr (FORM OF COUPON.) No. $25.00. On 100 The City of Logan City, County of Cache and State of Utah, will pay the bearer the sum of TWKNTY-F1VK DOLLARS, In gold coin of the United States of America, at the banking house of Rudolph Klcyboltc & Co., In New York City, N. Y., for semi-annual interest due that day on Its Klectrlc Klec-trlc Light Completion Pond, dated June lirst, 1004, Numbered Mayor City Recorder Sec. 4. That for the purpose of piovldlng for the payment of the Interest In-terest 011 the bonds hereby authorised as the same falls due the City Council of Logan City shall, commencing with the year 11)04 and continuing annually thereafter until all of said bonds aie paid, levy a tax on all the taxable property in said city In addition to all other taxes, suttlcicnt to produce the sum of six hundred dollars ($000) or so much thereof as may bo necessary to meet the interest on such of said bonds as remain outstanding and unpaid. Sec. 5. That for the purpose of establishing es-tablishing a sinking fund for the payment pay-ment of the principal of the bonds hereby authorised at their maturity, the City Council of the City of Logan city shall, beginning with the year 1004 and continuing annually thereafter up to and Including the year 1023 levy a tax on all of the taxable property in said City in addition to all other taxes sunicient to produce the sum of six hundred dollars ($600). Sec. 0. That said tuxes for the payment pay-ment of the Interest and principal of the bonds hereby authorized shall be levied, extended upon the tax lolls and collected at the same time and in the same manner in each year as the taxes of said city for general city purposes pur-poses are levied, extended and collected. collect-ed. Sec. 7. That this oidlnance shall be in full force and cITcct from and after its passage, approval and publication publi-cation as requited by law. Passed by the City Council this 10th day of June 1004, and icfciied to tlio Mayor for his approval. ' (5. W. LlSlllJlMST, Piesldeut of the City Council. (suai.) Attest: II attik Smith, City Recoider. Appioved this 10th tl.i v of June 1004. K. W. Roiiinsox, Ma or. State of Utah ! County ot Cache ( 1, Hattlc Smith, City Recoiderof Logan City, Utah, do heieby certify that the above and loregolng is a full, ttue and coriect copy of the original oidluanCe entitled: en-titled: An oidlnance piovldlng for the Issue Is-sue of bonds of the City of Logan City to the amount of $12,000, for the puipose pui-pose of providing funds for the completion com-pletion of the Municipal Klectrlc Lighting Works ol said City. In witness thereof I have heieunto set my hand and fixed the corpoiate seal of Logan City this 10th day of i June A. D. 11)01. Hattii: Smith. (skal) City Recoider. |