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Show Garfield Leader, Garfield, Utah Magna, Utah June 29, 1953 The Board of Trustees of Granger-Hunter Improvement District, Salt Lake County, met in special session on June 29, 1953, at 5635 West 3500 South in Magna, Utah, at 3 o'clock p.m. due, legal and timely notice of said meeting having been given to all members as required by law and the rules of said Board. The meeting was called to order by Chairman W. J. Jones. On roll call, the following members, constituting a quorum, were present: Estel L. Wright, Trustee Lester O. Larson, Trustee Absent: None. After the roll had been called with the above result, the following resolution was introduced in written form by Estel L. Wright was read in full and, after due discussion, pursuant to motion made by Estel L. Wright and seconded by Lester O. Larson was adopted by the following vote: Aye: Estel L. Wright Lester O. Larson W. J. Jones Nay: None. The resolution is as follows) Friday, July 3, 1953 WHEREAS the district is making provision for the payment from the proceeds of such bonds and the imposition of connection charges of all expenses and obligations heretofore incurred by the district for legal, engineering and fiscal agent's services; and the district has received bids for furnishing materials and supplies and fur labor involved in the construction of the contemplated waterworks improvements and its now desired to provide for the issuance of the bonds voted in the proposition aforesaid in the amount of $225,000, as it is the opinion of the district engineers that the proceeds from the sale of $225,000 of bonds will provide sufficient funds to make the improvements necesary to be made at this time including engineering, fiscal and incidental expense. The remainder of the bonds authorized at the election shall be reserved for issuance at a later date if additional funds are needed as the Board of Trustees by resolution may determine and they shall be isued only for the purpose for which they were voted. pons shall be signed by said officials by their facsimile signatures and said officials by the execution of said bunds shall adopt as and fur their own proper signatures their respective facsimile signatures appearing on said coupons. Section 4. That such bonds shall contain a recital that they are issued under authority of Chapter 6 uf Title 17 of Utah Code Annotated 1953 as amended and the recital to such effect contained in the form of bond set out in Section 5 hereof is hereby approved. Such recital shall conclusively import full compliance with all of the provisions of said chapter, and the bunds shall be incontestable for any cause whatsoever after their delivery and sale. Section 5. That the bonds and the coupons to be thereto attached shall be in substantially the fol- lowing form: (Form of Bond) UNITED STATES OF AMERICA STATE OF UTAH SALT LAKE COUNTY GRANGER-HUNTEIMPROVEMENT DISTRICT WATER SYSTEM BOND R NOW. THEREFORE. Be It ReNumber $1,000 solved by the Board of Trustees KNOW ALL MEN BY THESE A RESOLUTION authorizing of Granger-Hunter Improvement PRESENTS, that Granger-Huntthe issuance of $225,000 bonds District, Salt Lake County, Utah Improvement District, Salt Lake of Granger - Hunter Improve- as follows: acknowlment District; providing for Section 1. That for the purpose County, Utah, hereby payment of such bonds and the of acquiring, through purchase or edges itself to be indebted and for value received hereby promises sale thereof. construction, or both, a water dis- to pay to the bearer hereof the WHEREAS pursuant to Chapter tribution system for Granger-Hunt- sum of One Thousand Dollars 6 of Title 17 of Utah Code AnnoinDistrict, Improvement on the first day of July, tated 1953, as amended, there has all necessary and desir- ($1,000) 19 with interest thereon at , been heretofore created an im- cluding fire hyable pipe lines, valves, provement district within Salt drants and other appurtenances, the rate of three and per cent (3 5t) per annum from Lake County, Utah, known as and including necessary date until paid, payable semiGranger-HuntImprovement and for the purpose of payannually on the first days of JanfisDistrict; and and ing all legal, engineering and July of each year, inWHEREAS at an election duly cal uary agents expenses reasonably terest falling due on and prior to called and held on January 20, incurred in connection therewith being payable upon pre1953 within the territory comprisand in connection with the issu- maturity aning said district the following ance of the bonds, there shall be sentation and surrender of the proposition was approved by the issued the bonds of the district in nexed interest coupons as the same severally become due. Both prinqualified taxpaying registered the sum of $225,000. of and interest on this bond electors residing in the district: Section 2. That said bonds shall cipal in lawful money of Shall the bonds of Granger-Hunt- be designated Water System are payable Improvement District, Bonds," shall be in the total prin- the United States of America at Salt Lake County, Utah in the cipal amount of $225,000, shall be First Security Bank of Utah, N.A., aggregate sum of (260,000, ma- dated July 1, 1953, shall be in the Exchange Place Branch, in the of Salt Lake City, Utah. turing serially, not to exceed 40 denomination of $1,000, shall bear City This bond is one of a series of years from the date of issue and interest at the rate of three and bonds of like date, tenor and efbearing interest at not to exper cent (3,ir) per except as to maturity ceed the rate of five per cent annum until paid, and interest to fect, issued sold be by Granger-Hunte- r and Janon annum, per be payable District unImprovement of of Board Trustees the 1 of each year, by uary 1 and July the provisions of Chapter 6 Granger - Hunter Improvement which interest falling due on and der District for the purpose of ac- prior to maturity shall be repre- of Title 17 of Utah Code Annotated 1953, as amended for the purquiring, through purchase or sented by appropriate interest pose of acquiring, through purwater or a such both, construction, coupons to be attached to distribution system for the dis- bonds. The bonds shall be payable chase or construction, or both, a water distribution system for the all and er er cipal of and interest on this bund, according to its u rms. IN WITNESS WHEREOF, Granger - Hunter Improvement District, Salt Luke County, Utah, hus caused this bun.l u be signed by the Chairman ol the Board of Trustees uf said d.Murt, and attested by the Cleik t ,'iereof, and has. caused the curpoiute seal of said Granger-Hunl- tr right-of-wa- y, er one-quart- er semi-annual- ly necessary trict, including desirable pipe lines, valves, fire hydrants and other appurtenances, and including necessary said bonds to be payable either entirely from ad valorem taxes or from operating revenues of the district, or in part from each, in the discretion of the Board of Trustees of the district? and WHEREAS subsequent to the holding of the election, SenBte Bill Number 144 was adopted by the 1953 Utah Legislature, which bill amends Chapter 6 aforesaid, but is so worded as to permit the authorization and issuance of the bonds voted at said election of January 20, 1953, pursuant to the provisions of Chapter 6 as so amended; and WHEREAS provision appears of Chapter 6 in Section as so amended by Senate Bill Number 144, pursuant to which said proceedings for the issuance of bonds thereunder may be effective only when a hearing shall have been held as therein provided, and although it is not considered by the Board of Trustees that such provision is applicable to the issuance of the bonds voted at said election, nevertheless in order to eliminate any possibility of failure to disregard a pertinent statutory requirement, the Board of County Commissioners did by resolution adopted on May 20, 1953, provide for a hearing to be held in said district on June 15, 1953, due notice of which was given as required by law; and right-of-wa- y, as to both principal and interest in lawful money of the United States of America at First Security Bank of Utah, N.A., Exchange Place Branch, Salt Lake City, Utah, and shall mature serially in numerical order on July 1 of each of the years and be numbered as follows: Section 3. That said bonds shall be signed by the Chairman and shall be attested by the Clerk of the Board of Trustees of the district and shall have impressed thereon the official seal of said district. Interest accruing on said bonds; on and prior to maturity shall be evidenced by coupons to e thereto attached, which cou issued district, including all necessary and desirable pipe lines, valves, fire hydrants and other appurtenances, and including necessary and is issued under and pursuant to the provisions of the Constitution and Laws of the State of Utah, and pursuant to a resolution adopted by said board on June 29, 1953. The Board of Trustees of Granger-Hunter Improvement District covenants and is by law required to cause to be levied annually a sufficient tax to pay the interest on this bond as it falls due and also to constitute a sinking fund for the payment of the principal thereof as the same falls due. It is provided in the aforesaid resolution that the Board of Trustees of said district may apply to the payment of this bond and the issue of which it is a part $11 or any part of the revenues derived by the district from the operation of the water distribution system of the district. It is hereby certified, recited and declared that all acts, conditions and things essential to the validity of this bond exist, have happened and have been done, and that every requirement of law affecting the issue hereof has been duly complied with, and that this bond is within every debt and other limit prescribed by the Constitution and Laws of the State of Utah, and that the full faith, credit and resources of said Granger-Hunter Improvement District are hereby irrevocably pledged to the punctual payment of the prin right-of-wa- y, unv-quar- per cent (3VI) per annum at par and accrued interest, and it is tile opinion of the Uoaid that of Trustees of this the offer of the Commission of Finance to purchase said bonds is the highest, best, and most advantageous offer that could lie received for the purchase of those bonds, and said offer of tile Commission of Finance to purchase is hereby accepted and the Chairman and the Clerk of the Board on behalf of the Granger-Hunte- r dl.-lu- cl Improvement District to be heieto affixed, and the annexed coupons to be signed with the facs.mile signa-tu- i es of said Chairman and Clerk, which officials by the execution hereof do adopt as and for their own proper signatures their facsimile signatures appearing on each uf said coupons, all as uf the first day uf July, 1953. Improvement District arc hereby W. J. Junes authorized and directed to deliver said bonds to the State of Utah Chairman Attest: as soon as legally possible upon Lester O. Larson receipt of the purchase price therefor. Said Chairman and Clerk Clerk are further authorized and (Form of Coupon) Number directed to sign and affix the seal $ of said district to each of said On the first day of 19..., Granger-HuntImprove- bonds and the acts uf the Chairment District, Salt Lake County, man and Clerk in so doing are Utah, will pay to the bearer here- and shall be the act and deed of of at First Security Bank of Utah, the Board of Trustees of Granger-HuntN. A.k Exchange Place Branch, Improvement District. Salt Lake City, Utah, the sum of Section 8. That this resolution Dollars ($ ) shall be published immediately in lawful money of the United after its adoption in the Magna States of America, being the in- Times, a newspaper published in terest then due on its Water Sys- Salt Lake County, Utah and of tem Bond, dated July 1, 1953, and general circulation in the district. For a period of thirty days after numbered the date of such publication, any er er Chairman Attest: one-quart- er er Utah, and in response to said offer, the Commission of Finance hus agreed to purchase said bonds in the amount of $225,000 hereinbefore described bearing interest at the rale of three and Clerk Section 6. That there shall be levied in each year while said bonds are outstanding and unpaid, in addition to all other taxes authorized by the Constitution and Laws of the State of Utah, a tax on all taxable property in said district fully sufficient to pay the interest as the same shall become due, and to pay the principal of said bonds falling due each year. The proceeds of said tax shall be devoted and applied to the payment of said interest and principal as each shall become due, and the Board of Trustees of said district shall certify annually to the Board of County Commissioners of S. L. County the amounts y to be levied annually to pay said bonds, and the proper officer or officers are hereby authorized and directed, beginning with the year 1953, to include in the annual levy of taxes upon and to extend upon the assessment rolls against all taxable property situated in said district a sum sufficient to pay the principal of and interest on said bonds becoming due the ensuing year. Principal or interest falling due at any time when the proceeds of said tax levy may not be available shall be paid from other funds of the district and such funds shall be reimbursed from the proceeds of said taxes when said taxes shall have been collected. Nothing herein contained shall be so construed as to prevent the Board of Trustees of the district from applying all or any part of the revenues derived from the operation of the water distribution system of the district to the payment of said principal or interest and the Board of Trustees of the district is hereby specifically authorized in its discretion to apply such revenues for the purpose of paying interest or principal on said bonds, and in any year in which money from such sources has been actually deposited in the sinking fund for the payment of interest or principal, or both, becoming due in the ensuing year, the levy of taxes hereinabove required to be made in such year may to the extent of the money so deposited be diminished. Section 7. The Clerk of the Board of Trustees pursuant to Section Utah Code Annotated 1953, has submitted a written offer of the bonds to the Commission of Finance of the State of nec-sar- 5, person in interest shall have the right to contest the legality of said resolution and of the bonds authorized thereby and the provisions made for the security and payment of the bonds. After the expiration of said thirty days no one shall have any cause of action to contest the regularity, formality or legality thereof fur any cause whatever. Section 9. That the Clerk of the district is hereby authorized and directed to forward a certified copy of this resolution to the Clerk of the Board of County Commissioners of Salt Lake County, Utah, with the request that the Board of County Commissioners of Salt Lake County levy the taxes hereinabove provided in Section 6. Section 10. That all resolutions or orders or parts thereof in conflict herewith are to the extent of such conflict hereby repealed and this resolution shall be in effect from and after its passage. Adopted and approved June 29, 1953. J. Jones Chairman W. Attest: Lester O. Larson Clerk (Other business not pertinent to the above appears in the minutes of the meeting). Pursuant to motion duly made and carried the meeting was adjourned. W. J. Jones Chairman ATTEST: Lester O. Larson Clerk STATE OF UTAH ) ) LAKE ) COUNTY OF SALT I, Lester O. Larson, do hereby certify that I am the duly qualified and acting Clerk of the Board of Trustees of Granger-Hunt- er Improvement District, Salt Lake County, Utah. I further certify that the above and foregoing is a true and correct copy of the minutes of a meeting of the Board of Trustees of said District held on the 29 day of June, 1953 and of a resolution adopted at said meeting as said minutes and resolution are of record in my possession. IN WITNESS WHEREOF I have hereunto subscribed my official signature and affixed the seal of said district this 29 day of June, 1953. Lester O. Larson |