Show ordinance 0 68 AN till run COS OF ANO inta 14 1 17 4 TUH till byh I 1 daiil narino hysel HYS Tl I 1 1 1 pitON ll 1211 INO FOR THE ANCI AND sart MALI OF liti mn mankuk KUK 10 IO 1 xv 11 taftt OP 01 till I 1 COST POR loil till DISPI OF ilal or loftain hysni it INO ALT 1 olf PARTS OF 1 LIOT ANI 1 till SUCH 1 fixco la 10 m I 1 P I 1 CT I 1 V il by anco no 65 55 adopted and by tho the city council of pil i ng ilitch city fly on oll tho fifth tiny lay of oc october A 1 1 I 1934 and recorded I 1 tind published its i ly by law inar IL spenial LI caw blon was ordered to ii 74 held in city on oil tile ali ui dayl of cof r A 1 I 1934 4 for tho io of sul knitting mUt lii to the electors of wild city who hall had paid ft a property tux tax the therein it in uio the year prece proceeding eding said election tile following question shall revenue leonds of panguitch city in t lie e nino tint of thirty tivo th 0 11 ui dollard loll rs pay til e s serially e rl ily wit twenty one years fro froni in date to of 0 ISSUP issue solely from kho net revenues of the entire waterworks water works system of said city and in ili tit nt the rate of i not to exceed four 4 per cen iser ir ani annum flun payable ell I 1 N rit to N of the of second special session Ke 1933 coVin ionly known ns as alie hond bond act of 1933 I 1 for the purpose of defraying in ili I 1 part the cost of improving and repairing the file existing waterworks water works s system of city garfield county utah tile mid not net revenues of tile entire waterworks water works system of gilld city to be plodded A to the payment of said revenue bonds EAy said election was duly held and conducted la in accordance with tile requirements of tho the constitution and laws of the state of utah on the said sixth day of november A D 1934 and returns of the result thereof have been mado by the duly appointed and qualified judges of the election and WHEREAS the city council of sald city sitting as a board of canvassers on the day of november A D 1 1984 canvassed said aid returns of the judges of the elec tion and by resolution declared that votes had bad been cast in favor of issuing bonds in accordance with said proposition and 11 votes had been cast against issuing bonds in accordance with said bald proposition showing a majority of votes in favor of issuing bonds in accordance with said proposition NOW AND IS HEREBY by tho the city council of panguitch city as follows SECTION 1 that in order to construct tho the enlargements and replacements to tho the cites existing water iter distributing system construction wl tion bo be undertaken as follows the replacement of approximately linear foot feet of wood stave pipe in file pressure and distribute ng lines with cast iron andor steel andor inot ingot iron galvanized pipe tile installation of approximately linear fort feet of new pressure line of cast iron andor steel andor ingot iron illde to tai facilitate uie the distri button of tho the water together with mich new castings castl nga and tire fire ayd tants as tire are necessary and to make 1411 kiich ch improvements at the present and to the source of as funds will pery the cost of such con Is forty two thousand Ito llara SECTION 2 that for the pur loose of defraying part of the cost of tile construction of 0 enlargement nod replacement 4 to the cites water distributing system as do de iserina alcove above city does doea hereby issue wiLter works improvement I 1 revenue bonds bonda lit in the aggregate principal amount of 0 thirty ivo airo dollars to le bit numbered from one 1 to sixty 81 acty tour 64 both in elusive clu ilac sive and to be payable serially int at th rate re to of oc one yhoua thousand aud five dollars Dol liiM 1600 lit in tit years x 1930 1936 to 0 o 1965 loth inclusive and two dollars 2000 in ill 1966 1956 each bond ti bo of tile 1 da I or of alvi 11 0 hundred do del 1 lur jar GOO stich hucl oliell lie io pay imy iahlo in any vola coin or currency whdeh on oil ali tho respective dates of 1 thereof Is in legal tender for chii pay l of public wid dt lit shall bear Int interest vrest front from and after tin tilt first lily bihy of november A 1 I 1934 lit t tile hii rill ante of four per cent lini 4 per wr an all such interest bo 1 any title in ill like money on oil tile first days of f amny and november lit in each year and shall joe ly by onions oni ois to such bonds ill such bonds chall maturo serial ly y the bond one olio 1 and two 2 and 3 on oil Noven itier 1 1938 anil iff tr or of stich bonds in numerical orter order three leonds well cach year until and including 1965 with four bond ianda 4 In turIng lit in the final year 1950 1966 said revenue bonds shall lo 10 blo solely from tile net bevc le rived front from lite iho operation or of the entire water supply system of Pilli gItell city such net revenues shall he bo to bo be the grows grosi reye lill of such sY stenn after do only for or the cost of oper and maintaining the cin und the of tiny liny betterments or replacements to keep keel the same lit in good repair and working order said hald revenue bolli and tile lie lItt ached thereto shall io m 1 amablo nt lit the office of the city at city on alt r vold atall juul AI cwi iwi lw jj shall boar into the findt lay day or of november A U D 1934 and a lid shall iw H liy by thet of said alty countersigned counter signed by the city treasur er cr and shall havo have uio me corporate seat of imald vity affixed thereto by the city recorder llo cordor of salo kuld city all att rhod to said bonds bonda bear tile the facsimile signature of oc tile treasurer of said bald city und IB as uius thus authenticated said coupons shall bo be binding obligations for the interest evidenced thereby SECTION 3 that said bonds and the coupons thereto at j inched and each of them shall I 1 be substantially the following forms form UNITED STATES OF AMERICA STATE OF UTAH CITY COUNTY OF OAn FIELD waterworks Water works improvement revenue BOND no Pan gultch city a municipal cor po horation por atlon ration in the county of garfield state of 0 utah hereby acknowledges itself indebted and for value received promises to pay to the bearer liere of on the first day of november the sum of five hundred roil dollars and to pay interest thereon tit at the rate of four 4 per per annum payable geml annually on alo first daysi days of may blay and november in each year from date until maturity upon surrender of the annexed coupons as they severally become duo dim both principal and interest of this oila bond are payable in ili any cola coin or currency which on tile the respective dates of 1 payment thereof Is legal tender for the lie payment of public and private ailts il ts at the office of tile city treasurer at panguitch city gar 1 field county utah this howl bowl la Is one of bf a boije of revenue bonds issued by pan duitch city lit in the aggregate principal amount of thirty two thousand Dolla dollars iv for tile the purpose of construction of enlargements find atul replace mevis to the cites existing water distributing system by virtue of a vote of the qualified electora ot of said city voting nt at a fill election us its required by article article XIV section 3 of ulo tho con of tho the gulte of duty duly called uil aind held on tho the sixth day of november A D I 1 1934 and by virtue of ordinance no 58 of the city continued to page six hix I 1 NO 68 trow rf raw one council of sidd city duly passed on oil tho 2901 tiny day of january A D 1935 and pursuant to tho the constitution and of tile tho state of utah including petion 15 1678 1578 78 ho statutes chapter Olin pter 22 laws of arcond special six caal sw SCH slon known na its tile ilove title nue ilond act of 1833 1033 ns as required ity by section 3 or of tile said bald Ite ilond hond act oc 1933 it la Is hereby state ol oil 01 that tills bond Is issued under the provisions thereof and that it does doea not constitute nil an indebtedness city within ally state constitutional provi or statutory limitation this bond Is payable as to both principal and interest solely from the net revenuer of the entire water supply system of Pao gultch city said not revenues being defined by said ordinance no 68 58 as aa the cross brosa revenues of such system after deductions only tor for the cost coat of operating and maintaining tho the system and the expense of any bet torments tonn onta or replacements to keep tho same floreo in ill good repair and working order and na as security for such payment eald net rove aro are pledged by sald ordinance la ill an amount ent therefore thore forc to tile tho payment of 0 tile interest upon and tho the principal pill of the issue of dondi bonda of which tills Is one and to tile tho 1 1 creation of a howl bond nual mid interest sinking fund it in im hereby cov commuted canted mid and agreed that the city will nv III charge reano water hatm adequate to produce revenues ies front said hold water supply hyatt m to pay operation op oration and expenses of vald hid and the alio interest on and tile principal of this kond ilond us its and when tile maine becomes become duo and payable it Is IH hereby furber cove minted and agreed it reed that hint raton rates adequate to iroldo re revenue dent for much purposed seH will ile 10 nt lit till nil thues until thih heind and ill alic coupons hereunto attached tire fully paid and its charged provided that alint such mull brates shall not ho bu in excess of it reason abao rato for rendered this thin bond Is subject to tho condition and every holder hereof by tile MARIO agreci with tile obligor anti every that it the delivery dr llory of tilts tills ilond to tiny ny transferee transfer eu vest mt tatlo in III this bond anti ail the interest thereby lit in hitch trans force to io tho same extent for till purposes purio mn in would alio dollery dol lury rr er of able bearer b tile and tiny liny agent of tin obligor may inny trout the bearer of tills ilond tile bluto owner hereof for till nil durpos 44 and shall not lot ie bo d by ally notice to alio 1 I 1 10 contrary c the principal of mid and tho interest on tills ills ilond will bo be paid and tills ilond and of the appertaining thereto tire transferable free front from tind without regard to equit equities les setoffs set offs and cronn between alio lie obil gor and clio original or tiny later inter holder herl hereof if it lite sur render rendor to lo the obligor or tiny liny agent of the obligor of tills load kond and of each of tho coupons shall bo be a 11 goell to tho obligor of tho it la Is hereby certified recited end declared doc auml that till til things to tile validity of tills thin ilona exist have fillippella and inno birn been dono dolle and that hint overy oury requirement of law tile lAs issuance tiance liua duly daily i IN pun pan city lins has tills ilond hond to to lie be signed fy by its mayor rd ed by its treasurer and iti IN it i torpor corpor lite seal to bo be hereto attest it trat fd d by its city ind has also callea 10 th lo doupona COU to bo be authenticated by tile tho O of tile tho said treasurer and chiq to bo be tinted to in of tile first illy day or of november A di J 1934 AL mayor city acty treasurer uror OP coliron co iiroN oo no 1000 on oil flie lit first day of mily may A D 1935 city 11 municipal corporation in ill thu county of garfield santu of atall will pay to hereof tit nt the office of tile city treasurer 1000 iol DOI LARS in nuy ally coin or currency which on oil the ditto of payment hereof 0 f I la Is s legal tender for tile payment of public and vittie debts being belu six month interest on its water works improvement Ile hond bond no i dated november 1 A D I 1 1934 tills this coupon la Is issued under tind and pursuant purs unitt to tile constitution and laws or of tile state of oc atall including section 15 1678 1578 78 revised statutes 1033 1933 and chapter 22 laws of 1933 second special session and as required by section 3 of said chapter 22 it Is hereby stated that this athla coupon la Is issued under the provis tons lona thereof and that it doea not constitute an indebtedness of the city within any stata constitutional provisions or statutory ata limitations the Inte interest rost represented by tit this is coupon shall bo be payable solely from tho not revenues of tho ho entire water supply system of city |