Show Sewer Ordinance Passed By V Town Of Lay Layton ton V V Government Will Finance Of The Total Cost Bonds Are Sold I I Members of the Layton town town board Monday had passed an ordinance providing for the issuance an of in bonds author author- authorized authorized authorized at a special election held Aug Aug- August August 31 for the purpose of construct construct- constructing constructing ing in a municipal sewer system for Layton The bonds have been purchased by three concerns the First Na Na- National NaI National bank at Layton the Edward EdwardI I I L. L Burton Corporation and the First Security Trust company of Salt Lake City whose offer was the highest it was announced by the of the town board George E. E Briggs Driggs The Thc bonds are payable within 20 years from the date of issue bear bear- bearing bearin bearing ing in interest at not to exceed the rate of one and three quarters per an an- annum anI annum num payable pa abe semi The he in in- in 1 I I I I terest which tails falls due on April 1 1944 and on October 1 I 1944 is to tobe tobe tobe be pail out of the general fund of Layton town To reimburse this fund of Layton town To reimburse this fund there shall be levied in inthe inthe inthe the year 1944 on all taxable prop prop- property erty in erty-in in addition to fo all other taxes ta es a direct annual tax sufficient to produce the sum of and there thereafter thereafter thereafter after to pay the interest on bonds on-bonds bonds as the same falls due and to pay payI the principal of said bonds as same I matures Cost of the entire project will be approximately and the fed fed- federal fedI federal eral government will wilt finance lof of the total About 15 miles of sew sew- sewer er lines Jines will wilt be installed and two and an one-half one miles of trunk lines tines ar are I already in place constructed by the government several severa months ago I I I |