Show NO to 31 A RESOLUTION providing for forthe forthe forthe I the acquisition of the portion of ofa ofa ofa a sewer s system stem consisting of or sewage facilities for South Davis Count County Sewer Improvement Improvement Improvement Im Im- provement District providing for or the issuance of Sewer Revenue Bonds Donds of South Davis County Sewer improvement Improvement Improvement Improve Improve- ment District entering into certain agreements and making certain provisions for the Ule security security security se se- se- se and payment of such bonds providing for tor the sale and cr delivery of or such bonds and entering into collateral agreements and provisions in connection with the foregoing WHEREAS there was held in South Davis County Sewer Improvement Im- Im pro provement District on October 10 1953 1939 an m election at which there was submitted to the qualified qualified fied lied electors of said district who had paid a prop property crt tax in said district in the year next preceding preceding ing the election the following proposition Shall ShaIl the bonds of South Davis Count County Sewer Improvement Improvement Improvement Improve Improve- ment District D Davis Dans s 1 and Salt Lake Counties Utah in the aggregate sum of or maturing in not to exceed 40 years from the date thereof and bearing interest at not to exceed the rate of 6 io per annum be issued by said district district dis dis- such bonds to the amount of to be issued issued is is- sued for the purpose of paying paying paying pay pay- ing the cost- cost of acquiring through construction and purchase purchase purchase pur pur- chase the portion of a sewer system for said district which will consist of facilities designed designed de de- signed to treat and dispose of sewage including a disposal and treatment plant or pl plants and trunk outfall lines and anti to be full general obligations of the district payable from ad valorem taxes sufficient for that purpose and such bonds to the amount of 1 to be issued for the purpose of paying part of the cost of or acquiring through construction construction con con- and purchase the portion of a sewer system for said district which will consist of sewer lines and facilities necessary to collect sewage and to cOn e convey it to trunk outfall lines Jines none of such collection facilities to be within the corporate boundaries ies of Bountiful City and to tobe tobe be p payable solely from revenues revenues revenues rev rev- to be derived from the operation of the sewage fac- fac of the district such cost in both eases cases to include such legal engineering and fiscal agent expenses reason- reason incurred in connection with the acquisition of such sewer system and with the authorization Uon and issuance of or such bonds as may be properly prop prop- properly erly payable from the proceeds pro pro- thereof said bonds to tobe be issued at one time or from time to time in the discretion I bf the Board of Trustees of said district and WHEREAS due and legal noLice notice no Lice tice of the calling of said election election elec elec- tion lion was given riven and md said election election elec elec- tion lion was in m all things properly V held and conducted and resulted d in the approval of said proposition proposition tion lion b by a vote of 1548 in favor favor- r- r and against and WHEREAS of the bonds s so authorized at said e have been heretofore issued issue d general obligation bonds to th the c amount of but no revenue rev re revenue bonds and it is now desired desired desir desir- r ed to provide for the issuance e of revenue bonds i in n order to pay part of or the cost of the acquisition sit on of the portion of the system for which the re revenue revenue rev rev- v bonds were voted NOW THEREFORE Be It Resolved by the Board of Trustees Trustees Trus Trus- s tees of or South Davis Count County y Sewer Improvement ement District as follows Section 1 Definitions The following words a and nd terms used in this resolution o n shall be construed as follows follow s 1 1 The board shall be and understood understood under under- er stood to mean the Board of Tiu Ti- Trustees Trustees Trus Trus- u Is tees of South Davis County Sever Sewer Sew Sew- v er Improvement District 2 The uThe district shall shaH be understood to refer to South Sou th Davis County Sewer Improvement Improve e. e ment meat District as such distri district ct now exists or as it may at any a nY time hereafter exist gist with e extended extended ex ex- x tended boundaries 3 The consulting engineers engineer s shall be understood to refer to Nielsen Reeve and md Maxwell of Ogden Utah and to any successors successors suc suc- s uc to said engineers w who vho ho may be hereafter selected in t the he manner for which provision Is made in this resolution 4 The Trustee shall be understood to be the tho bank be hereinafter here here- e matter designated to perfo perform rm the various duties for which p provision provisIon pro pro- ro vision is herein made and any bank which may in the lut future are succeed to the duties of the Trustee as herein provided pro 5 The words the system m and the lethe sewer system shall hall s 11 be understood to mean the c complete com com- o m sewage collection facilities fall tics and outfall system and sewage sew age treatment and disposal plants is of the district including all s sage sewage sewage sew sew- evv age facilities of every kind and nature served or operate 1 bythe by bythe bythe I the district together with all improvements and extensions hereafter made thereto including including including ing real estate trunk and lateral mains pipes valves buildings machinery apparatus and equipment equipment equipment equip equip- ment of every character and description and all rights privileges prIvileges privileges leaseholds e casements franchises rights way rights ot way and contracts pertinent thereto or used in connection therewith whether lying within or without the bo boundaries of the district G. G TJI The words sewage treatment treatment treat treat- ment meat and disposal plants shall be understood to mean that portion portion por por- tion Lion of the s system stem heretofore or I 1 n her hereafter acquired with the prods proceeds pro pro- Ci cee ds of the flat aforementioned gener general 11 obligation bonds comprising the tho facilities designed to treat and dispose of se sewage wage including a disposal and tre treatment plant or plants and trunk outfall lines together with all future improvements and additions ad ad- dit ions to such portion of oC the system added thereto and used sol solely ely for the treatment and md disposal of sewage including trunk outfall lin lines s. s The words sewage selvage collection facilities shall be understood to refer reCer to the portion of the system which consists of sewer lines and facilities facilities fac fac- facilities used to collect sewage an anto anto anto to convey it to trunk outfall lines initially acquired with the proceeds pro of the bonds herein authorized together with all col col- collection collection collection lection facilities and improvements improvements improve improve- ments me and additions thereto wh which ch may be hereafter acquired ed it being understood however how how- hower ev ever er er that no facilities owned and operated by Bount Bountiful Cul Cit City sh shall all be part o of oC the system 7 The words the lethe revenues sh shall all be understood to mean all revenues of every character derived derived de de- de- de riv rived ed by the district from the operation of the system including jr ing in g all payments made by residents residents resi resi- de dents and nonresidents of oC the d district for current services rendered rendered ren ren- d dered by the system and including including ir in ing g also all fees collected fore forthe for forthe r tl th the e making of connections to the e s system sy stem but excluding special fees fee feed n an and d charges for sewage selvage treatment treatment treat treat- n ment pa paid d by industrial agricultural agricultural tl tural tarot commercial or other establishments establishments es es- t including such establishments establishments es es- tz constructed and n maintained in Bountiful City a as here hereinafter naCter provided an and d a also excluding b but u t ton o only n l I y j juntH until the system or an any Y part thereof is first placed place d in operation connection fees tees received received re re- c from froin the owners of or property pro pert perty connecting with the system ss s's tc ten tem but such connection fees fee s si shall be so excluded only if th the e siP siP P proceeds thereof are arc used to pa pay P part of the cost of constructing g the system or arc are paid into th the p Reserve Fund To the extent exten et that provision is e c r n made for Ol the application of insurance insurance in in- s sui ance proceeds to the payment pay n ment meat of oC principal of or interest t on the bonds herein authorized o such c proceeds shall also be considered considered con con- os s to be he included in th the e tl term the revenues There Then e s shall not be included in the term m any any money derived from th the e levy lej of taxes on taxable pr property pro o petty perty in the district 8 The words the general oh ob- ob bonds shall shaH be under understood stood to refer to the heretofore e voted bonds of the district heretofore heretofore here her e ee and hereafter issued issue a which are arc payable from the proceeds proceeds pro pro- pr o- o of ad valorem taxes 9 The words the bonds bonds- an and d the revenue bonds shall be understood to refer to the bonds bond bes s in the amount of pa payable payable pay pay- Y able from the operating revenues revenues reven revs n ues acs of the system which bon bonds ds a are arc re herein authorized 10 The words parity bonds s shall hall be understood to refer to till all ll bonds hereafter issued on toa a parity with the tile bonds pursuant nt to the provisions of oC subsection on 10 of Section 11 hereof 11 The words Sinking Slaking Fur Fund d Year shall shaH be understood to refer to the twelve month period period per per- pe r iod rod beginning Jul July 1 of the c calendar cal cal- al cedar year and ending on tl the to next succeeding June 30 I 12 The words the tic depository ry shall- shall be understood to me mean menn n t the he bank hereinafter designated e d to receive the deposits of II the e revenues and any bank why which ch may in the future succeed to t the he duties of the initial depositor depository Section 2 Acquisition of oC Facilities The district shall continue contin u e with the acquisition of the system s stern ys tern tem pursuant to plans and sp spec specifications eci therefore prepared b by Nielsen Reeve and Maxwell o of Ogden Utah which plans a and anc ad specifications have been heretofore hereto here lo- lo fore approved by the board Section 3 The Bonds For the purpose of pay paying Lag part of the cost east of oC acquit acquiring i ng through construction and p purchase purchase pur pur- ur r- r chase the portion of a sewer sc system for said district Rh which ieh will consist of sewer lines an and facilities necessary to Coll collect eel sewage and to convey it to trunk outfall lines none of such collection collection col col- c lection leMion facilities to be within the 10 existing corporate boundaries es of ot Bountiful City and for the purpose pur r- r rn pose of ot paying such legal lega engineering en en- n- n and fiscal agent expenses expenses ex ex- x- x xin reasonably incurred d in connection therewith and with til the authorization and issuance of the bonds as may be properly proper proper- ly I payable from the proceeds thereof there shall be borrowed on the credit of the revenues and p payable solely from the revenues rev as more particularly hereinafter here hereinafter provided the sum of II and that in evidence thereof there arc are hereby authorized authorized authorized author author- to be issued the bonds of the district in such amount The bonds shall shaH be designated I ted Sewer Revenue Bonds shall be dated July 1 1961 shall be in the denomination of 1000 each shall shaH be numbered 1 to 1500 and shall be p payable as to both principal 11 and interest in II lawful money of the United States of oC America at al First Sec Security fixity Bank Dank of Utah N. N A. A Salt Lake La ke City Ut Utah The bonds shall bear interest as such rate or rates not exceeding six percent per percent percent cent 6 per cent per annum as asma ma may hereafter be determined by resolution of the board which interest shall be payable on only Ju Jl July ly 1 1962 and semiannually semi thereafter on Jan 1 and July 1 of each year earo The revenue bonds shall become become be- be come due serially in numerical order on July 1 of oC each year ear as follows I Bond Numbers Amount Y Year Yc-a ar r I 1 to 5 v t 1966 s 6 to 15 1967 7 I 16 to 25 1963 8 I 26 to 40 1969 41 to 55 1970 0 I 56 to 75 1971 1 76 to 1972 2 I to 1973 3 to 1974 4 to 1975 5 to 1976 1971 6 2 31 to 1977 7 to 1978 1971 8 3 16 to 1979 1971 g 3 61 to 1980 1981 0 4 11 to 1981 1 4 61 to 1982 i to 19 1983 I to 1984 1 6 31 to 19 1985 i 6 91 to 1986 iG G to 1987 19 7 8 21 to 1988 S to 19 1989 to 1035 1990 0 1036 to 1110 1991 1 1111 to 1185 1992 r 1186 to 1260 1993 3 1261 to 1340 1330 1994 4 1341 1311 to 1420 1995 S 1421 to 1500 1996 6 Bonds numbered 76 to 1500 inclusive shall be callable fo for r redemption at the option of th the e re district on Jul July 1 1971 and o ony on n a any ny interest payment sate date thereafter there there- after aCter in inverse numerical order orde r and at the principal amount amour t thereof plus accrued interest to t o the date fixed for redemption n and a premium of 40 for eat each h bond so redeemed on or prior r to Jul- Jul July JulI 1 I 1980 30 for each bond bon d so redeemed ther thereafter after and o on onor onor n or prior to July July- 1 1985 20 for Ea r each bond so redeemed deemed thereafter thereafter there tier e. e after and on or prior to July 1 I 1990 and 10 for each bond so s 0 redeemed tier ther thereafter after prior t to o maturity Notice of the call of any of the bonds for redemption is t to tobe tobe o be given not t ess than thin thirty ov v days prior to the redemption n date by registered mail to lh the e registered holders thereof at th the e addresses shown on the Registrars Registrar's Regis Regis- registration books If an any y bond is called for redemption on which Is not at the time of ca call ll registered as to principal n not at less than thirty days says notice of r redemption shall shaH be given give n through the publication of or an an a appropriate ap ap- p notice one time in a f financial ot newspaper published publish ed in the City of New York No New n v York or Chicago and a nd sent by registered mail to t the h e ban bank at which the bonds to be redeemed are payable Section 4 Registration The bonds shall shaH be a ble as to principal in the ma manner man n- n ner ncr and with the effect pt provided provid provid- ovi d ed in the form of bond hereinafter herein a- a after set out Section 5 Execution of Bonds Each of the bonds shall be signed by the Chairman of t the h e Board shall be attested by t the h e Clerk and shall have impressed impress hed ed i thereon the seal of the distri district ct Interest falling due on the bon bonds bondson ds on and prior to maturity sh shall all be evidenced by appropriate interest in in- terest coupons to be thereto attached at at- at- at tacked which coupons shall be signed by said Chair Chairman man a and nd Clerk by their facsimile si signa signa- te a. a tures lures and said officers shall teby by the execution of t the he bonds ad adas adopt opt as and for far their own pro proper P er signatures their respective facsimile fa Cs smile signatures appearing on said coupons Each bond |