Show Ordinance No AN ORDINANCE PROVIDING FORTHE FOR FORTHE FORTHE THE CONSTRUCTION OF A WATERWORKS WATERWORKS WATERWORKS WATER WATER- WORKS SYSTEM FOR THE CITY OF DELTA MILLARD COUNTY STATE OF UTAH TO BE OWNED AND CONTROLLED CONTROLLED CONTROLLED CON CON- TROLLED BY SAID PROVIDING FOR THE ISSUANCE AND SALE OF COUPON REVENUE BONDS OF SAID CITY IN THE AMOUNT OF SEVENTY THOUSAND DOLLARS TO DEFRAY PART OF THE COST THEREOF THERE THERE- OF PRESCRIBING THE FORM OF SAID BONDS PROVIDING FOR THE COLLECTION OF REASONABLE AND UNIFORM RATES FOR SERVICE FROM SAID WATERWORKS SYSTEM TO PAY THE INTEREST ON AND TO EXTINGUISH THE PRINCIPAL OF SAID BONDS AND ESTABLISHING A SPECIAL FUND OF SAID REVENUE F FL F SUCH PURPOSE AND EST ESTABLISHING ESTABLISHING AB- AB LISHING OTHER FUNDS AND REPEALING REPEALING REPEALING RE RE- PEALING ALL ORDINANCES OR PARTS OF ORDINANCES IN CONFLICT CONFLICT CONFLICT CON CON- HEREWITH AND FIXING THE TIME THIS TillS ORDINANCE BECOMES EFFECTIVE WHEREAS on the day of July 1940 the Town of Delta Millard County State of Utah Changed its corporate status to the present City of Delta due to increase of population to more than as determined by thelast the thelast thelast last National Nation l Census pursuant to I I certification of such fact to the Governor Governor Governor Gov Gov- GovI of the State of Utah and the declaration by public proclamation by such Governor on said date that said town had become a city of the third class all pursuant to the provisions of Section 15 1 Revised Statutes of or Utah 1933 as amended by Chapter i 21 Laws of Utah 1935 and that pursuant pursuant pursuant pur- pur to the provisions of Section 1515 1515 15 1 5 Revised Statutes of Utah 1933 as amended by Chapter 25 Laws of Utah Utah Utah U- U tah 1939 the Board of Trustees of said Town with the President Clerk i and Treasurer of or such board continue in office as the officers of said City until the next municipal election on the Tuesday next following the first Monday in November 1941 and until their respective successors shall be be r duly elected and qualified and that such town officers are now the officers officers officers cers of said city and I WHEREAS the City of Delta Millard Millard Millard Mill- Mill ard County State of Utah now has no waterworks system of any kind kindor or nature to supply the inhabitants of said City with water and WHEREAS in full conformity with the Constitution and laws of the State of Utah and the ordinances rules and orders of said Town of to becoming a City the Board of Trustees Trustees Trustees Trus Trus- tees of said Town has by proper resolution resolution resolution res res- heretofore unanimously adopted adopted adopted a- a determined to proceed under the provisions and authority of Chapter Chapter Chapter Chap Chap- ter 22 Laws of Utah 1933 1933 Second Special Sessions as amended by Chapter 74 74 Laws of Utah 1935 to construct a new and complete waterworks waterworks waterworks water water- works system to be owned and controlled controlled controlled con con- trolled by said Town now a City forthe forthe for forthe the purpose of supplying said Town now a City and the inhabitants thereof with water to be paid for partly by the issuance of or revenue bonds of said City in the aggregate amount of Seventy Thousand Dollars and I I WHEREAS pursuant to said Act said Board of Trustees of said Town I now a City has caused a com comprehensive comprehensive compre compre- pre pre- I estimate of the costs of ot construction construction construction con con- and operation of said project project project pro pro- to be made by a competent engineer en- en engineer engineer en en- approved by the State Engineer Engin Engin- eer of the State of or Utah and having no connection with any manufacturer or I seller pf machinery pipe or other e- e t to be used In said project projector or in the Installation thereof or with any person or corporation engaged in f tithe the same business and said City has heretofore by proper resolution unanimously unanimously u- u adopted said estimate together with plans and specifications for said waterworks project and WHEREAS under Title 15 15 Chapter 1 1 Section 4 4 Revised Statutes of Utah 1933 all ordinances orders and resolutions resolutions resolutions reso reso- in force in any town when it changes to a city in so far tar as such ordinances orders and resolutions are not repugnant to law shall continue In full force and effect until repealed or amended and such change in the th class of such town shall have no effect effect effect ef ef- on the same and WHEREAS the Board of Trustees deems It expedient of r said City now and necessary to proceed with the conduction of said waterworks system system tem fern for the purpose aforesaid and to contract the necessary necessary necessary for that purpose essary indebtedness on behalf of said City upon the net revenues to be derived derived de derived de- de the operation of said waterworks wat vat rived from corn Worl s system when constructed by Issuing the coupon revenue bonds of ot said City in said aggregate amount of or Seve Seventy ty Thousand Dollars O THEREFORE BE IT AND IT NOW V HEREBY IS ORDAINED by the Board Trustees of ot the City of Delta Millard Millard Mill- Mill of nf ard Jd County State of Utah as fol- fol Section 1 T That h a t a e. n new w an and d. d com corn system of waterworks to be owned and controlled by said City be erected and by the Board of Trustees of said City which conI contemplated contemplated con con- I waterworks s system stem is brief brief- I ly described ed as consisting of or two drilled drilled drill drill- ed wells wells situated one-half one mile North f. f of the City of Delta corporate limits pumping plant elevated steel storage stor- stor I I age tank gallons capacity and miles of 8 6 in 4 and 2 iron cast-iron distribution m mains a i ins n s valves meters etc the estimated cost of which is One Hundred ty-Two ty Thousand Five Hundred ty-seven ty an and 49 Dollars Section 2 That for the purpose of providing part of or the necessary funds for the construction of or said waterworks waterworks waterworks water water- works system the City shall issue its coupon revenue bonds in in inthe the aggregate aggregate aggregate ag ag- ag- ag principal amount of Seventy Thousand Dollars which bonds shall be designated City of Delta Waterworks Revenue Bonds consisting of seventy 70 bonds in inthe inthe in inthe the denomination of One Thousand Dollars 1000 each numbered from I 1 to 70 both inclusive payable in in lawful money of or the United States of of America dated as of the first day of September A. A D. D 1940 and due and I payable in numerical order Two Thousand Dollars 2000 on the first first day of September in each of the I years 1941 to 1975 both inclusive and bearing interest at the rate of four I I per 4 per annum until the principal thereof is paid payable in I like medium semi-annually semi on the first day of March and the first day I of of September in each year as evidenced evidenced evidenced evi evi- to maturity by coupons attached attached attached at at- to said bonds i Said revenue bonds shall be payable payable payable paya paya- ble solely from and shall be a first lien and charge upon the net revenues revenues revenues reven reven- ues to be derived from the operation I of said waterworks system of the City I of Delta Millard 1 County State Stat of U- U tah Said net revenues shall be deemed deem deem- ed to be the revenues remaining after i I deducting from the gross revenues of said system the cost of operating and maintaining the system and the expenses expenses expenses ex ex- of or any betterments or replacements replacements replacements replace replace- ments necessary to keep the same in inI I good repair and working order I Said revenue bonds and the coupons coupons coupons cou cou- pons attached thereto shall be payI payable payable payable pay pay- I able at the office of the Treasurer of the Board of Trustees of the City of Delta until the election and qualification tion of a City Treasurer of said City I and thereafter at the office of such City Treasurer in the City of Delta Millard l County State of or Utah Said bonds shall be signed by the President President President dent of or the Board of Trustees of said City and attested by the Clerk of the Board of Trustees of or said City under the corporate seal of said City and shall be countersigned by the Treasurer Treasur Treasur- er or of the Board of Trustees of said City and the Clerk of the Board of Trustees of or said City shall endorse upon each of said bonds the certificate certificate certificate cate in substance provided by Section 8 0 Revised Statutes of Utah 1933 All coupons shall bear the facsimile signature of the Treasurer of the Board of or Trustees of said City and as thus authenticated said coupons shall be binding obligations for the interest interest interest inter inter- est evidenced thereby Section 3 Said revenue bonds and coupons attached shall be in insubstantially insubstantially substantially the following form I UNITED STATES OF AMERICA I CITY OF DELTA I IA A Municipal Corporation MILLARD COUNTY STATE OF UTAH I CITY OF DELTA WATERWORKS VATER I REVENUE BOND i Number KNOW V ALL MEN BY THESE PRESENTS PRESENTS PRES- PRES i That the City of Delta a municipal municipal municipal mu mu- muI I corporation in jn Millard County County County Coun Coun- ty State of or Utah hereby acknowledges es itself to be indebted and for value received promises to pay to the bearer bear- bear I er hereof the sum of I ONE THOUSAND DOLLARS I on the 1st day of September Septem Septem- ber A. A D. D 19 and to pay interest I thereon at the rate of four per cen- cen turn 4 per annum until the payment payment payment pay pay- ment of or the principal thereof payable semiannually on the 1st day of March Marchand Marchand Marchand and the 1st day of September In each I year from date but until maturity only upon presentation and surrender J of the annexed interest coupons as they severally become due Both principal and interest are payable in inI I lawful money of the United States of I America at the office of or the Treasurer Treasur Treasur- er of the Board of Trustees of the I City of Delta until election and qualIfication qualification I of or a City Treasurer of said City and thereafter at the office orfice of j such City Treasurer in the City of I Delta Millard l County State of Utah I I This bond is one of a series of Waterworks Waterworks Wat Vat VatI I Revenue Bonds issued by byl I said City in the aggregate principal amount of Seventy Thousand Dollars for the purpose of defraying defraying defray defray- i ing in part the cost of supplying such I City with water by the construction construction I of a waterworks system to be owned I and controlled b by said City under authority authority authority au au- of oC and in full conformity with 1 the Constitution of or the State of or Utah the the provisions of or Chapter 22 Laws Laws' of I 1 Utah 1933 Second Special Session as as' as I I amended by Chapter 74 Laws of Utah Utah U- U UI I tah 1935 and in full conformity with I the provisions of all other laws of the I I State of Utah thereunto enabling and 1 by virtue of Ordinance No of the Board of Trustees of or said City duly I passed and adopted on the day of January A. A D D. D 1941 This bond 1 hand and the attached coupons have been I I issued under the provisions of Chapter Chap- Chap j ter fer 22 Laws of Utah 1933 Second I Special Session as amended by Chapter Chap- Chap ChapI I ter 74 Laws of or Utah 1935 and do donot do donot I II not constitute an indebtedness of said i r i I City within an any state constitutional provision pro or statutory limitation I I. I I This bond Is payable as to both j 1 principal and Interest solely from and andis is a first lien and charge upon the net revenues to be derived from the operation operation oper oper- alion of said waterworks works system tobe to tobe be determined by deducting from the gross revenues of the all costs of operating and maintaining the system I tern tem and the expenses of an any betterments betterments betterments better- better ments or replacements necessary to 1 keep the same in good repair and working working- order and ard as security for I such payment said net revenues revenues' s' s are arc I pledged primarily to the payment of Interest upon and principal of oC the Issue Issue issue is- is I sue of oC bonds of which this is Is' Is one Is-one one and to the creation of a Bond and Interest Interest Interest In- In terest Sinking Fund to be known as the Waterworks Bond and Inter Inter- InterI J I I lest est Sinking Fund of the City of Delta Del Del- ta taIt ta It is hereby is-hereby covenanted and agreed that said City will charge reasonable rates for the services furnished by said waterworks system sufficient to provide for the payment of the interest interest inter- inter est upon and principal of or all of the Issue of bonds of which this bond Is isone lone one as and when the same become due due and payable to create a Bond BondI I and Interest Sinking Fund to provide for the payment of or the expenses expenses expenses ex ex- of or administration and operation operation operation opera opera- tion and such expenses for the maintenance maintenance maintenance main main- of or said system necessary to preserve the same In good repair an and d working order to build up a reserve for depreciation and to build up a a. reserve for improvements betterments betterments betterments better better- ments and extensions other than those necessary to maintain the same in good repair and working order It Itis Itis Itis is hereby further covenanted and agreed agreed agreed a- a greed that rates adequate to provide revenues sufficient for such purposes will be maintained at all times until this bond and the interest hereon are fully paid and discharged provided that such rates shall not be in excess of a reasonable rate for the service rendered rf This bond is subject to the conditions conditions conditions condi condi- and every holder hereof by accepting accepting accepting ac ac- the th same agrees with the obligor and every subsequent holder that a the delivery of this bond and of the inter interest st coupons hereunto appertaining appertaining appertaining ap ap- pertaining to any shall vest title in this bond and the interest interest interest inter inter- est hereon in such transferees to the same extent for all purposes as would the delivery under like circumstances of any negotiable instrument payable to bearer b the obligor and any agent agent a- a gent ent of or the obligor may treat the bearer of this bond as the absolute owner hereof for all purposes and shall not be affected by any notice to the contrary c the principal of oC and the interest on 1 this bond will be paid and this bond and each of oC the coupons appertaining hereto are transferable free from and without regard to equities set offs and cross- cross claims between the obligor and the original or any intermediate holder hereof d the payment by the obligor obligor obligor ob ob- ligor or by any agent of the obligor of the principal of this bond to any holder of the same and of the Interest interest interest Inter inter- est represented by the annexed coupons coupons coupons cou cou- pons to any holder of such coupons upon delivery of this bond and such coupons to the obligor shall discharge discharge discharge dis dis- charge the obligor from any further liability for payments on account of oC such principal and interest It is hereby certified recited and declared that all acts conditions and things necessary to exist to be done and to have happened precedent to the issuance and essential to the validity validity validity va va- of this bond do exist have been done and have happened in regular and due time form and manner and that every requirement of |