Show An Ordinance I I I AN ORDINANCE PROVIDING FOR POR FORTHE FORTHE THE ISSUANCE AND SALE OF FIFTY THOUSAND DOLLARS LIGHT AND WATER BONDS OF TIlE THE CITY OF l I MANTI A NT I SANPETE COUNTY UTA UTAH II WHEREAS by hy the result of a special bond hond election duly and und lawfully lawfully law law- fully called an and ami held in ManU Manti City Sanpete County State of Utah on Tues Tuesday ay the da day of September A. A D. D I 1937 3 7 sal said city was authorized and empowered ito to issue and anti sell jell 00 Light and Water Vater Bon Bonds dR and WHEREAS the result of said election was duly declared by the City council of or saw saki city CHy sitting as asa asa asa a Board Doard of Canvassers by hy resolution duly passed on the day of September 1937 from which it appears appears appears ap ap- ap- ap pears that the total number of voles votes I cast at said election in favor of the theIss issuance Iss ance and an sale of said Light and Water Vater Bonds was vas and aud the total num number bel o of votes voted cast against tHe I Issuance and s sale le of said Light and nd Water Vater Bonds Donds was 19 showing a majority of votes in favor of or orthe the issuance issuance and sale of said Light and Water Yater Bonds and WHEREAS THEREAS by resolution duly passed on the day of September Septem Septem- ber bel A. A D D. D 1937 it is ia deemed expedient expedient ex ex- and advisable by the City Council of said city to i issue sue and sell all of the bonds so authorized D. b by said election and WHEREAS Lauren W. W Gibbs ibbs Company Compan Real Insurance Estate Securities has offered to purchase said bonds paying par and accrued interest from date of bonds to date of dellver delivery thereof which price was satisfactory to the City and which offer has by resolution been duly accepted by said City Council and andI I WHEREAS there is immediate and pressing need of raising funds to the said amount of for or the tho purpose specified I NOW NOV THEREFORE BE DE IT ORDAINED ORDAINED ORDAINED OR OR- BY THE CITY COUNCIL OF THE CITY OF MANTI SANPETE SANPETE SANPETE SAN- SAN PETE COUNTY UTAH Section 1 That for the purpose of raising funds to defray the expense expense ex ex- X- X pense of constructing an additional generating unit to the municipal light and power system of u City illY ana and constructing a pipe line to w supply said generating unit and to carr carry culinary water to Manti ManU City as provided Dr for in a resolution adoptEd adopt adopt- adopted ed and ad and passed by b the City Council on the 7 h day of August A. A D. D I 1937 37 providing for and ordering a special election for the purpose of or submitting to the qualified electors of said city city the question of incurring incurring incurring incur incur- ring a bonded indebtedness to the amount of the City of Manti Utah does issue Light and Water Vater D Bonds Bond's said bonds bondi shall be of the denomination of ot 1000 each and shall be bc numbered from one 1 to to fifty 50 Inclusive inclusive inclusive sive said sald bonds bonds' shall be known as asCHy asCHy CHy City of or Manti Light and Water Vater ds 1301 Series of October 1 A A A. A D. D 1937 shall bear interest at the rate of 41 IA per annum payable on In ii April 1st and ind October 1st in each year maturing as follows October October 1 I 1948 October 1 1949 2000 00 October 1 I 1950 October 1 I 1951 October 1 1952 October Cl ober 1 I 1953 October 1 1954 1964 October 1 1 1955 00 October 1 1956 October 1 1957 57 S Section 2 Said bonds and each cach of them shall shaH be except hs as as ito number number num num- ber bel and maturity in substantially the following form wit to UNITED STATES OF OP AMERICA STATE SlATE OF OP UTAH SANPETE COU COUNTY TY I CITY OF 01 MANTI MA LIGHT A AND ANI J WATER ATER BOND SERIES OF OP OCTOBER 1 AI AD A.D. 1937 1037 No o. o KNOW ALL MEN l BY THESE PRESENTS That the City of or Manti Sanpete County S ate of Utah hereby acknowledge acknowledges acknowledges ack ack- itself to be indebted and for value received hereby promises to pay to the bearer hereof the ithe sum of O ONE E THOUSAND DOLLARS in lawful money of the United States of America on the first da day of October A. A D D. 19 atthe at atthe atthe the ZIons ZIon's Savings Bank and Trust Company in Salt Lake City Utah with interest thereon at the rate of or four and one quarter per 41 4 1 Vi c IA l per er annum from date until paid payable semi-annually semi in iii like mone money on the ithe first days of or April and I October in each year said interest to maturity 1 being represented by In Interest interest interest in- in terest coupons hereto attached This bond bonU Is issued f for r the purpose purpose purpose pur pur- pose of acquiring funds to be used for Cor the purpose of defraying the r A r expense of constructing an additional addition addition- al generating g unit to the municipal I t electric light and power system of Qt ManU Manti City and amI I 7 constructing a pipe nipo line to o supply said sal generating unit and to carr carry culinary water to blank City in manner provided for in a resolution passed by the City Council Coun Coun- Council cil of ot said City ity Issued under and to the provisions of the Constitution and Laws of the State of Utah and as authorized by the thc I I electors of said City at a special election held for that purpose The City Council of or said City pity shall shaH annually levy a tax sufficient to pay the interest on this bond as asIt asIt asit It falls fulls due and also to constitute a sinking fund sufficient to pay the thc principal when due It is hereby certified recited and und declared that all conditions acts and things essential to the validity of or this thia n bond exist have e happened hannen r n. and have been done and that every evory requirement of law affecting the tho is issue issue issue is- is sue thereof has been duly complied compiled with and that this bond is within eV every r debt and other limit prescribed ed cd b by the Constitution and Laws Law of the State of Utah The full faith credit and all taxable taxable taxable tax tax- able property within the limits of or said CIl City of Manti lanti as constituted at atthe atthe atthe the time of the Issuance hereof are tire and shall continue to be pledged to the punctual payment of the thc principal principal principal prin prin- cipal and interest of this bond IN WITNESS WHEREOF said City of Mand Manti has caused this bond to be signed by its Mayor Maor its corporate car cor seal to be hereunto affixed and attested by hy its Cil City Recorder and the annexed coupons to bear the thc simile fac signature of the City I Treasurer as of the first day of October A. A D. D 1937 R. R EASTON MOFFITT Mayor ATTEST AVA TUTTLE City Recorder SEAL To each of or said bonds shall be attached a coupon for each Installment installment Install install- ment of interest which said coupons coupons coupons cou cou- pons shall be consecutively number numb numbered r. r ed beginning with No 1 I with the several dates of payment and number number num num- ber of bond and shall bear the facsimile facsimile facsimile fac fac- simile signature of the City Treas Treas- Said coupons shall shaH be in substantially substantially sub sub- the following form lowit to- to wit Form norm of Coupon No 2125 1 5 A u un On the 1st day or of O Apr i U A. A D. D 19 ManU Manti will wilt pa pay to the bearer hereof at the ZIons ZIon's Savings Bank Trust Company Company Com Com- pany panny in Salt Lake City Utah the th sum of Twenty-One Twenty and 25 Dollars Dollars Dol Dol- lars tars 2125 In lawful money of the United States of America being six months' months interest then due on its Light and Water Yater Bond dated October October October Octo Octo- ber 1 I 1937 simile Fac-simile Signature City Treasurer I Bond No There shall be endorsed on ach each f f said bonds the following I I hereby certify that this bond is within the law lav debt limit of Manti 1 City Utah and andIs Is Issued according to law AVA TUTTLE City Recorder Said bonds and antI each of them shall shaH oe signed by the thc Mayor and attested b by the City Recorder and sealed with Aith the seal of the said City and said coupons shall bear the facsimile facsimile fac Cac- fac- fac simile signature of the City Treas Treas- The Thc Mayor layor of said city is Je rei eby eI empowered and directed to sign the City Recorder to sign and attest St and affix the seal of the cit city to each of said bonds and the acts Jf JC f said Mayor and City Recorder in inso inso so 30 doing are and shall be the act and deed of said Manti ManU City All statements representations an and agreements contained in inLaid said mid bonds and coupons and all recitals re re- and representations of this ordina ordinance ce are hereby considered and understood and it is hereby ordered hat said and promises herein are the covenants and promises promises promises pro pro- of said city and that the re representations representations representations re- re presentations and statements there there- in are the representations and statements statements state state- ments of said city And it Is ls further stated and represented represented re re- presented that said City of Mantl lanti is isi is 1 i municipal corporation under the Constitution and La Laws of tie the te t State of Utah Wan Section 3 All ordinances and resolutions or parts of ordinances mId md resolutions in conflict with the provisions hereof be and the same are hereby herch repealed and after said bonds are Issued this ordinance shall be attU remain until said bonds and the the the- interest thereon shall have been fully paid satisfied and discharged as as s herein herelD provided Section 4 The interest falling due on said bonds on the first d Jay day r of April 1938 shall be be paid out of the general fund of or said city and andor andor andor or or the purpose of reimbursing said sad general fund for the payment of said interest and for the purpose I I 1 of providing for the payment of the Interest falling due on the first day of or October 1928 1938 and r for r the purpose purpose purpose pur pur- pose of providing for the payment of the thc interest falling due on the first day of April 1939 there shall t be levied in the year 1938 a direct annual tax on all property in said city In addition to all other taxes F sufficient to produce the sum of ot and amI to meet the interest falling Calling due ie on said bonds thereafter e. e promptly and as the same becomes due and to provide c for the payment of the tho principal of said bonds as aa they severally become due there l ill shall he levied a direct annual tax T on all taxable property in said city in addition to all other taxes suf- suf sufficient sufficient suf to produce the following 1 sums Year Interest Principal Total 1939 1 1940 1941 r 2125 P 0 1942 1913 3 fi 00 fj 00 j 1941 1 j 1915 1946 19 V I. I 1947 2000 1 19 1948 1 8 2000 3 1919 1932 50 2000 1950 2000 50 1951 1952 t 1953 50 1954 1955 50 1956 50 1 19 1957 5 7 12 7 j 0 6 0 0 0 61 2 j 5 50 0 Sai Said taxes when collected shall shaH be applied solely for Cor the purpose of the payment of said Interest and principal principal principal prin prin- cipal of said bonds respectively and for tor no other purpose whatever until he indebtedness so created under this ordinance and resolution principal principal prin prin- I cipal and interest shall shaH have been ully muy paid satisfied and angl discharged But nothing herein cont contained shall oe be c so construed as to prevent said ily nty from applying appling any other funds chat may be be in the City Treasury t tand and available for the purpose to the payment of said interest and prin- prin 1 as the same respectively maure maure maure ma- ma ure and the lev levy or levies herein provided for to meet the interest l lon on said bonds and to discharge the principal thereof when due are hereby appropriated for that purpose pur- pur pose DOS and said amount for each year shall shan be included In the annual ap- ap appropriation appropriation appropriation ap ap- bills passed by the City Council in each year respectively Section 5 The sale of said Light and Water Bonds I consisting of of bonds numbered from one 1 to fifty 50 both inclusive to o Lauren W. W Gibbs Company Real Securities Insurance a corporation corporation corporation cor- cor of the S State ate of Utah and the tho action of the City Council in ac- ac epting Its offer aud and all aU acts and proceedings pertaining thereto are hereby considered and are hereby I ratified and confirmed and the City authorized in- in Treasurer is hereby and directed to deliver said bonds when properly executed to Said Lauren W. W Gibbs Company T TReal Real Estate Insurance Securities upon receipt of the purchase price Section G. G In the opinion of the ity Council of said City it is necessary necessary sary Jan to the peace health and safety Jf f said City that this ordinance become become become be be- come operative immediately so that he proceeds 1 of these bonds be available available avail avaIl- able immediately for the pui purposes poses herein set forth t Section 7 The City Recorder is hereby in instructed to cause this or ordinance ordinance ordinance or- or a to be pu published bUshed In one issue of the Manti lanti Messenger a newspaper of general circulation in anti Manti City every Friday Section S S. S NOW be beIt beit beit it further ordained that an emergency emergency emer emergency emer- emer gency is her hereby by declared and that his ordinance shall take effect anabe and ana be in force upon the date of its passage and approval and tion PASSED b by the City Oily Council of he City of Manti Utah and approved ed this 1st day of June A. A D. D 1938 R. R EASTON MOFFITT Mayor l Attest AVA TUTTLE i Recorder City Z r f f. f SEAL A motion for the adoption cf of this Q ordinance was made b by councilman E. E T. T Reid The adoption of the foregoing ordinance ordinance ordinance or or- was seconded b by Council CouncH- J. J C. C Harris and upon being hein put to lo toa loa a vote was carried b by the affirmative vote yote of all aU councilmen present the theote Tote ote being as follows i Councilman Stanford Madden Madsen n Aye Aver Councilman P. P M. M Smith A Aye Ayo n Henry leU Ay Ay Councilman E. E T. T Reid o A A t Councilman J. J C. C Harris A Aye Ayo t ADOPTED AND APPROVED this lri 1st day of June A. A D. D 1938 R. R EASTON MOFFITT vi Mayor ATTEST I IAVA A AVA VA TUTTLE City Recorder lp SEAL SEt I I 1 |