Show ORDINANCE NO 68 58 AN PROVIDING rou tim vill AND or 01 1 rim INO nl OV orry CITY MINTY COUNTY UTAH PRO 1110 roil FOR hilll ANI SAIJI 0 OP F I 1 t 11 V HN BONDS TO PART OF mi till 1 1101 rno PRO FOR vini TIUN 4 OF 01 OF tim HINT 1101 1 11 ili nil I 1 InA LINd ALINO ALL OR on OV or 19 IN I 1 11 ll ANI AND I 1 11 ienir 1 otiva vill 4 ly liy nm 65 adopted nua iii approved rowl by thea llio ally Cotil lell of oc city garfield county 11 butoli fill on tho lio bill day of Oct colier A 1 I 1034 1934 mid and revor dod and published iia ri reli dired by law 11 special IolI wan vas ordered to bo hold held tn ili said llly city on tile tho eth tiny of november A I 1 1034 for tho purpose imri wo of submitting to the lie olee If ctorn torm of said city who imd had paid 11 property arty liiv therean lit in tho etor sall election tile follo whig question hhall bondi of or pan inn city CA county mity ikno lit in tho of thirty two thousand niHl pollara dollars payable serially lt liln twenty one years from late of issue solely front from tho the net rover mom of tho entire of said city anti bearing interest tit nt tile ritto rato of riot not to four 4 r tor per it genii annually tw be issued pursuit ut to Cha liter 22 eawh of tho the state of soc oaid special Sw scalon alon 1933 commonly known og as tho the revenue ilond bona act of oc 1933 for tile purpose of defray iw in part tho cost of mid find repairing the atiq existing water works system of city county butoli the alio said aid net Te venues of 0 tin tilt entire water works system of 0 said city to iw be pledged agea to uit the op of mid re bonds said election was wai duly avia and conducted conduct eol in accord ince with tile I 1 rein ants of the e constitution and caws of tile state of utah on oil saia oth day of Noven iberA A D 1934 and returns of tile result thereof Iter cof have been mado by tile duly appointed and judges of tile election und and WHEREAS the city council of mald hold city sitting bitting as a board of on oil tho the lath tiny lay of november A ai D 1834 1934 canvassed sald of tho judged ot of election and by resolution declared that votes had been cast in favor of issuing bonds in amor accordance danco with said eald proposition and 11 votes had been cast against issuing bonds in accordance with said propos proposition itlen showing a majority of votes in favor of issuing bonds in accordance with said proposition NOW THERE POnD BE IT ORDAINED by the city council of panguitch Pan gultch city garfield county utah na as follows SECTION 1 that in order to improve and repair the existing waterworks water works system of said city construction be ba undertaken as follows follow the replacement of tho the present wood stave pipe in tho the pressure and distribution lines lilies with cast iron steel and galvanized pipe fire improvements it at the present head house minor developments of its water supply iona other work nork incident thereto the alio cost of such construction st Is 2 that for tho the pur pose of defraying part of the cost coat of improving and repairing its existing water waterworks works system as above city does docis hereby itsuo issue revenue eluo bonds lit in tile aggregate principal amount of ILI thirty li I 1 r t y two to dollars to lie im consecutively front from 1 to 80 both in ill elusive find to be payable pain llo serially at hii tile tho rate of sixteen Ilund rod 1600 dollars it beer yc ar in cach of tho the yea yeam from 1937 to 1956 both luclus inclusive ive three thieo bonds lit it c coldi acl y year e hr to bo be of tho the of bao Hund dollars and one bond to ix bo of the ole denomination of bf ono hundred dollars such bonds shall bo be payable lit in tiny liny coin or currency which ou ohp ro spec tive dates of payment thel thereof cof Is legal tender tor for the payment of public and private debts shall bear interest from and after tile first play flay of february A D 1936 1935 at the rate of four per cen 4 per annum payable conil antisz annually ally interest shall lo be 10 payable in ill like money on tile tho first days of february and august of each year atil and shall be evidenced by coupons attached to such bonds and such bonds shall mature ver verbally lally in ili numerical vill order four bonds each year oliree liaci ol lir irce ci of tho the denomination of VIVO Ilund hundred rod Dolln Dollar rn 4 find ono OHM of tile of 0 one anol dollars Dolln rH on febria iny ary first lit in of tho 1937 to 0 o 1950 both inclusive said maid bonds shall lio bo payable solely frow front tho not nol ruvo reve wit derived from the operation of 0 tho ali cuthre waterworks water works system of city stich not nel dball liu bo dee nicol to lio bo the of such sy system stein after du do duct dictions ions only for the coat or of oper mid find ma tilt III tile find the of liny filly betterments or to keep keel the yaino saino lit in good repair n kiil working order fillad mid find alio roii voit pona pons thereto bo lit ill tile office of tile city treasurer nt fit city garfield county sald ahall lnor duty date ilio first illy of l A 1 I 1035 find hall bu be signed tl ly by abo mayor of said mill C city it ys hy by the city treasur er 01 and shall have uio corpor nto of wild sald city thereto attested liy the olty city recorder of said mild city all attached to gilld baida shall benr bear the facsimile of the treasurer of still ined I 1 city indi find us its thus authenticate I 1 sala coupons hall bo be binding obi obal Kii tlona for tile interest ev I 1 thereby SECTION 3 chilt said sald blonda anil and the alic coupons couii ons thereto nt at inched mid find each of then eliom I 1 81 1 all lio be in substantially 1110 follow folio w 1 lii aig form 1 UNI iKI STATUS 00 AMERICA STATI 1 or OF UTAH CITY COUNTY OF OARD 1131 Improve nici it evell 0 blonds so no i city a municipal cor por porot atlon lon in the county of Cartle ld state of utah hereby lier Lly lnell indebted mid and for value rc calved promises to pay to hereof lio roof or if ills bond bo be rt td ed to to tho registered holder hereof on oil the first illy of february A D I 1 19 tile hinn of DOLLAR S mid and to pity imy interest there 1 I tit nt tilt th ratu rato of four wo 4 por cen por annum iionia 1 n it it till ily on the first ilnyo of find and august lit in vach year beor fruin front into until maturity upon surrender of the annexed colli doupona polis us its they severally become due both principal and interest of tills kond ilona fire payable tit in any coin or curre currency itcy which oil mi tile respect respective ivo dates of r payment ther therbor eor in legal tender for the tic payment of public and fit atu debts debb 4 tit lit tho he office of the city Treas treasurer uror nt lit Pang nitch tilty illy gar field county atall tills this biond Is one olio of ft a of revel luo bonds IssiK Hl liy by city garfield gill field county utah in tile tho aggregate principal amount of thirty two thousand dollars Dolln re for tho the purpose of berray defraying in part the costa cost of improving and niad repairing its existing water works system by virtue of a majority vote oto of the qualified electors of sold city voting nt at a special election as by article XIV section 3 of the constitution of the state of utah duly called tind and hold held on tho the ath day of november A D 1934 find and by virtue of 0 ordinance 68 of tho the city council of said city duly lias passed scid on the day of february uary A D 1835 1935 and pursuant to the constitution and laws lawa of tho the state santo of utah including section 1878 1578 18 15 78 sool statutes of 1933 find and chapter 22 laws or of utah 1933 seand special session commonly known as tile alio revenue bona noal act of 1933 As required by section 3 of tile tho said revenue hond tet act of 1933 it Is I 1 hereby stated that ehli la Is issued under the provisions thereof and that it does doea not constitute till nil of said city within filly state shito con mitu lional provision or statutory limitation tills nond bond li 19 pay tible to bula principal anil and interest solely from the net of tile the entire water waterworks works of poin guitell city sald not net being 10 lo de filloon by said ordnance oranan o 68 58 its as the tl IL 1 gross revenues revenue of such system after only for tile tho cost of oper wing tho the system and tin the of any or replacements to keep keel tho the sumo lit in good repair ellid working order find and as a security for such sald said net revenues aro are pledged by said 01 ordinance in ill an all amount dent clent to tile payment of 1110 interest upon and principal of the issue of bonds of which this la Is one abtil to the croat loii of a bond mod interest In V art sinking filed it is hereby covenanted and agreed that the city will charge reasonable water rates adequate to to produce r reclines denues from said water supply system suf lelent to pay op oration find and mantell nCe expenses of said system and the interest on in find and the lie principal of tills this hobyl as and when lien the samu becomer lm dun find payable it Is hereby fuff iier covenanted find and agreed that rates adequate to provide revenue dent clout for such purposes will vill be maintain nt at nil all times dines until tills hond and tile con coti iiona lions hereunto attached tire fully pala paid rind discharged provided that such rates shall not lio lie in ili of u it reason rate nito for tin tile rendered this leond biond IS IH subject to tile alio coin coil dation and every holder by live accepting epting the same anino agrees with the obligor find every cery subsequent holder that it the di livery delivery of this hond to to any ally transferee it if not derod or if tho last r A lio lie to bearer i vest title in III tills ilonia ind and alic interest thereby lit in stich trails forro if ID atno extent for nil purposes II 11 na would alio delivery und or cr like of any ally lu Ile goti in instrument payable to bearer b 1 the obligor rind any agent of tile I 1 0 lillior tuny may treat the bearer of thim bond blondi or it if it W w registered lit in ill balne or of 11 1 holder 1 lr I 1 alio r eg I 1 1 I ri coldor of alili 4 kund ilond na its tin tile alog locuto lo luto owner hereof for till nil and not lo io 10 affected ly filly 11 O to to tin the contrary c the principal 0 of f and dw interest on oll HIN kond will vill IK paid fill and tills this find m ili of tin tile coupons lip tithe to alre transferable free from jihu ali 1 l without regard to equities set offs and KW bluie blu ii tit alio and tile jio original or tiny in holder harvot d tile HUr surrender render to alic obligor oi or liny fifty of if tit hie obligor of this elih ilond allot ot C etcell of tile coupons if ac not i registered or if tho alio last transfer bo be to learer or the lio ix celpa of the holder for tit alio principal ll lian preot of find giblet oat lida let 0 on 11 if tills this ilond be 1 registered in ili the of it 11 holder slinia bo IH 11 kowl good discharge to tho obligor or of tit tho it la Is hereby cord certified fled anti lee lared that nil all things to tilo validity lt of tills ilond exist lime live happened alla have been lone done 11 ivul id that every eory of law tile issuance bervar lias has liati ie L 11 duly compiled with IN WITNESS 14 ran pall tell city larfield 1111 lis 4 tills this kond to bt 1 ajl nebi neqi in by lt its i minor mayor ly by its Tr treasurer and its corporate seal to in be hereto nf affixed fixed att estea by its ita city recorder hid find tills luia iligo caused lio alil loyod coul kIIS to bo oiled iy ay tile htiu signature of wild said treasurer and tills this bond to bo be nn as or tile first tiny of ferrii febra tiry nry A D 1935 AL mayor ATTEST j city TON HD city treasurer FORM or OF coliron N naj on tho first adny fly of A D I 1 10 city a corporation in fit alib county of garfield ot of utah will pay to tilt the bearer hereof lio roof at the office of the city treasurer iol lars ili tiny coin or currency blitch on me jio into dato of hereof isi Is legal tender for the payi payment nent ol of public and private debts being sl alx 6 months interest lut croat on oil its water works improvement revenue dond bond no batea february 1 A U D 1936 this coupon Is issued under and pursuant to the constitution and laws of the state of utah include UK COXIN COUNTY Tit jug w Sect section lOII 1678 16 78 revised statutes 22 laws of 1933 IDS 3 1933 nna Cli chapter apter second special rosalon Ho Sos salon slon and its aa required by section 3 of said clini chap ter 22 it Is hereby stated that elih tui ilion la IS issued under tile provis lons thereof find that it loci not constitute tin nn indebtedness Indebted nom of tho the city within any ally state constitutional provisions or statutory limitations alio interest represented by tills this caution shall bo be payable solely from froin tho li not net revenues of tile tho entire water supply system of city l signature of olty treasurer fl hade aclo 0 TO ln 1111 WRITTEN I BY chis ilond inny lio lie registered na as to principal only lit in tile ninno of thu holder hereof i on oil the booke of alio llio lie Ile corder of panguitch city iliah tit nt which thilo alnio such reg istra cioll shall bo be lidlow by said Ite corder upon its ita presentation by such registered li holder older ills legal leal or ns assigns signs together avith proper proof of identity power of tit torney or assignment us tile ease may bo be said lie corder it if so HO request eol shall resistor register it lit in tho linnio anino of another holder ho liki or to bearer after to bearor tills ilond shall bo be by 41 olivery lint but it may inny again bo borenis regis us its before lic fon tho registration of jhb 4 ilond as to principal shall not firrest tile negotiability of 0 tile coupons which shall to bo be transferable by delivery alio he within ilond linn has been regis ns its follows date of 0 registration f T 1 1 I 1 in ili elioso name registered 1 I of city recorder I I 1 1 thoro there shall bo be endorsed on oil owsald of sald biond bytho by alio city recorder the following 1 I hereby certify that tills ilond Is within the lawful ilott limit ol of city anti la Is issued ac cordua to law ci city ty it eco I 1 I 1 c r station 4 cic fati met d fi special full f in id to lie be keion its is the avater supply system hi stun gincomo 0 fund of h city herein tile In conui collict ruia into shall bo be pata front from ind and anter the lik anto of tho the salo of the bonds herein authorized to lie be ill fill income derived from the operation of tile tho entire water supply Sst or of gala city As ai long ions ns as any ally of tile the principal of or interest oil nn tiny of 0 the imondi herein issued li is l i outstanding tile income fund shall bo be adminis its as heroin provided before any of the monies lit in such fund Is used for any other purpose tit in filly month there shall be paid 1 I 1 into a separate account to be known as aa tho the water supply system operation and maintenance fund of panguitch PAn gultch city i hore heroin tit culled chilled clil led tile tho operation find natice rund fund nn an amount sufficient to pay nil all expenses of operation hid and of the system for such month tho the monies ini in the operation and maintenance fund shall bo be used usual only tor for the of the legitimate costs costa if and maintenance of tile system and the reasonable cs of tiny betterments or replacements necessary to keel kchop tile same lit in good repair ana work liiK order 2 into it separate account to bo be known ss ns tile weilor supply system bond find interest sinking fund fluid of city herein called uie the bond fund the herein required to toi lie bo paid into tile bond fund in such nuch month thero there shall bo be paid into the I 1 mita bond fund in approximately vilt lill installments after makina the above required payment into the operation and |