OCR Text |
Show (Facsimile Signature) thereof. The failure of the Said bond3 shall be fully special tax and assessments This bond is payable exclusivbondholders so to negotiable and shall have all levied upon the property in- ely out of said bond fund and proceed the qualities of negotiable cluded in said Payson Special said improvement special THUDSDAY JUNE 2, 1960 City Recorder and shall not relieve said City or Assessment District No. 1958-- 1 guaranty fund. Said City paper, subject to the City Auditor any of its officials of any ija. of said City, provided, how- shall not be held liable for ment provisions stated not in coupons bility for failure to perform insert (Do cash in said special improve' any such duty. in, and the holder or holders ever, said payment is additi- the payment of this bond, exmaturing one year from date ment guaranty fund at any Section 10. That all thereof shall possess all rights onally secured by a special cept to the extent of the funds and on each one numbered time to make any and all nances or resolutions, or ordiholders of negoti-mor- e improvement guaranty fund so created and received from enjoyed by purchases of property bid on able instruments under the heretofore created by Ordi- said special tax levies and as- bond.) thereof, in conflict with parts the AUDITORS CERTIFICATE MENT GUARANTY FUND; by the City at sales of prop of extent nance No. 9 of Payson City, sessments and to the the Negtiable provisions I hereby certify that this provisions of this ordinance DETAILS erty for delinquent special ini' PRESCRIBING Instruments Law. passed and adopted on the 16th of its special improvement bond does not constitute an are hereby repealed. This reIN CONNECTION THERE- - provement taxes, the City of May, 1960. Said City guaranty fund; but said City indebtedness of pealer shall not be construed day bonds shall be Said signed Payson City, to revive for WITH; AND DECLARING Council shall replenish said shall not be for held liable shall held be the ordinance nor responsible Mayor, countersigned by County of Utah, and State of resolution, any special improvement guaranty AN EMERGENCY. or part thereof and the payment of any of said the lawful levy of all special the conTreasurer, by City State within any Utah, fund by transfer or appropri' attested by the City Recorder bonds, except to the extent of taxes or assessments, or the stitutional or statutory limi- heretofore repealed. WHEREAS, Payson City , in aon from the general fund Section 11. That this ordiof the funds receivcreated and maintenance and creation and City Auditor and is issued accord- nance Utah County and the State of or other available sources as ed from said special tax levies the special improvement guar- - tation, may be amended or sup its and said 0f issu-1 City, the Payson ing to law. Utah, is considering may be determined by the and and assessments to the as an ordinance plemented law, affixfund shall be seal by improvided anty corporate ance of certain special Dated this day of or ordinancesby City Council. ed to each bond. The coupons extent of its special improve- - and for faithful accounting, adopted by the I 1960. Warrants drawing interest y kntSj I City Council in accordance attached to said bonds, shall ment guaranty fund; but said collection, settlement and WHEREAS, said Payson C ty t & rate of not t0 exceed with the laws of the State shall be held responsible ments of the special tax and facsimile bear the signature of of and Recorder additionally desirous is City an. Utah and said City, and witheight per centum of the City Recorder and Ex-- for the lawful levy of all assessments levied for local Auditor City guaranteeing its special out the receipt by the - num may be issued by the officio City Auditor, which special taxes or assessments, improvements and for the e City of Section 6. That said bonds provement bonds by Auditor against said fund - j moneys of said funds, mainfor and the creation of the execution officer by imProveexecuted slnll be issued any additional consideration when ation of a sPf to meet any financial liabili-mensaid 'bonds shall adopt as and tenance of the special taxes Said special tax and assess-o- r to Lauren W. Gibbs, the law with the written consent of . I guaranty ties accruiing against it; but the crea- - ment made and levied to for additional consideration n assessments, the facsimile his for I signature BE IT at tbe time of thereof, for the any NOW, THEREFORE, with the written consent of making its and maintenance of the fray sajd cost, with accruing ful purchaser thereof appearing on said and thereof amount ORDAINED BY THE MAYOR nex annuai tax eVy( the City principal the holders of seventy-fiv- e pons, and when said bonds are special improvement guaranty interest thereon, constitutes accrued interest to the date AND CITY COUNCIL OF Council shall provide for the as and centum (75) of the bonds fund law, shall by said per of provided and the executed, I $61,800.00. coupons jjen npon against of delivery; and said City here PAYSON CITY, UTAH: jevy 0f a sum sufficient with for faithful accounting, col- authorized by this ordinance the tax which constitute such binding BE IT NOW or upon THEREFORE holder property to the by pledges Section . Special Improve-- the other resources of the BY THE CITY gations of said City for said lection, settlement and pay-- 1 an(j assessment was made and holders of said bonds, the ex- and outstanding at the time ment Guaranty Fund. There funcj to pay warrants so ments of the adoption of such amenlevied taxes the of for bonds and March interest. Said levied from and after ercise of all lawful corporate hereby created a special sued and outstanding, the tax COUNCIL OF PAYSON CITY, local and for or supplemental ordithe which improvements 31 1960 date the signatures bearing up0n COUNTY, STATE OF Pns powers in the collection of datory fund to be known as special for this purpose not such said nance; of the officers in office at the moneys of said funds. I provided, however, ordinance assess levying UPAH' tax and fund, special guaranty jng one mdj jn any 0ne year. Section 5. That said bonds, e signing thereof became ment levied for the collection that no such ordinance shall x and assessment 1. That all action, Section which said fund shall be used the thereto attached, effective which lien is prior of such bonds. Sect;on ? Subrogation of The funds have the effect of permitting: matters and shuf hte the yahd and binding and coupons for the purpose of guarantee- the certificate to appear Lnd superior to all liens, Whenever the City shall proceedings, (a) An extension of the ma of issuance the for realized of,fldlty-aning the extent Paid under its guaranty things heretofore taken, and Watl0 thereon, shall be in substanti- - j eiajmg titles, mortgages and said bonds shall be deposited turity of any bond authUJt P done and the payment o by Payson City fund any sum on account of orized by this ordinance-oPayment ally the following form: encumbrances, except the liens in the Citys Special AssessI P con- - dehv officers of said the City provement bo principal and interest on the efor any or all of the per- of general taxes. 1958-ConNo. I ment District warr curb, gutter sons whose improvement bonds or warrants of any dis- - cerning making It is hereby further certified, struction signatures appear (b) A reduction in the prinFund, heretofore terest thereon it shall be suborgated to and sidewalk improvements thereon shall have ceased to trict, recited and declared that all created and applied solely for I iocai cipal amount of any S in is what hereafter issue desigcommonly the rights of the holders of and things the purpose of paying the fill their respective offices. bond or the rate of inacts, conditions 1S. improvemen such bonds or warrants, or nated Payson Special Assessessential to the validity of the costs and expenses of making terest thereon without All of said bonds shall be I loc of P " No. ment District . payment interest coupons so paid, and have bond the happened to exist, written consent of said redemption and for prior subject provided and within for said City, the improvements, therein such bonds or warrants or and have been done in due that all moneys, if any, rethe holder of said bond; in inverse numerical order, at of of property sold to the City creation said the District, and the proceeds or I time, form and manner as re- maining in said Construction the option of the City, on any 1 at tax sales or un thereof, shall become a part levy and collection of a spe-- interest (c) The creation of a lien when by law, and that the Fund after the payment of quired date, payment assessment to tax cial and closure for delinquent special guaranty fund total issue of special improve' all proper costs and expenses I upon or a pledge of meet the cost and expense of ever there is sufficient money improvemen Section 8. All ordinances such ment bonds of said City for of said ipprovements, shall i11 Utah, property, revenues or City, Payson and the I improvements, flection 2 or resolutions, there- .ww, nn I said District, including this then be paid into said Bond funds, ranking prior to issuance of special improve-- 1 Special Assessment District The City Council shaU create I conflic witPh the I No. 1958-- 1 does not exceed the Fund, herein created. to the liens or pledges creBond Fund" bond, The 1 im-per bonds ment be, and therefor, and maintain said special I amount authorized by law nor purchaser of said bonds shall visions of this ordinance are the same ated by this ordinance; hereby is ratified, mit such prior redemption, at the special tax and assessment in no manner be responsible or approved and confirmed, in-- 1 a price equal to the principal be , levied to er not shall to cover the cost of for the application by said construed so A reduction of the prineach of amount bond (d) tax without the of a or limiting toe eluding, fund eral by levy County Payson City in revive ordinaice nor re- improvements in said Dis City, or any of its officers, of cipal mount of bonds of the foregoing, the I deemed, together with accrU' of Utah and State of Utah, for of not to exceed one mill in solution any hereor thereof I that aU o said spe. any of the funds derived from to part the interest for consent to redemption to of required is Lauren sale said bonds the or 1 one by value year, any received, hereby prom-3 have tofore repealed. and one a of and such date issuance the thereof. or supW. premium Lake Salt L amendatory Gibbs, City, suance of general obligation ises out of a special fund Section 9. As long as any lawfll levied. Section 7. That all assessplemental ordinance. years interest on each bond available for the purpose as bonds, or by appropriation special improvement bonds of Utah This bond is gubject to the treasu-re- r Notice of prior hereinafter set Section 12. That if 2. That Payson atySOedeemed from . such, other sources as forth, to Pay Londition and every holder ments collected by the I redemPtl0n shaU v.said Payson City are out andSection said section, paragraph, clause any the said after of iven City Treasurer the thereof to or the hereof bearer be, principal hereof fey accepting the same 28th Sid Council to provide the standing, this ordinance shall and hereby are, authorized, the City Treasurer in the sum of day of April, 1960, and provision of this ordinance and name of Payson City by publi agrees with the obligor he account thereof, shall be shall for any reason be held moneys empowered and directed to catlon suoh notice at least ONE THOUSAND DOLLARS j every subsequent holder in the Bond Fund sep- to be invalid or unenforceable, kept enforce collect and receive, shal h? ful HUNDRED DOLLARS of, that (a) the delivery of arate and apart from all other the hSdby Se City Treasurer- Paid- certlfied and the payment of all of said spe- - once in eacdl4 calendar week invalidity or unenforce- discharged cial tax and assessments madeon an da week for at FIVE HUNDRED DOLLARS this bond to any transferee funds and moneys of said ability of such section, paraand shall be kept by him sep- I bond this in herein title vest provided, two consecutive weeks on the first day of April, 19 , shall City, and said fund shall be graph, clause or provision shall arate and apart from all other Section 10. If any section, to defray the cost of acquir- I laast,. to be at with interest thereon until and in the interest coupons kept in the custody of the not affect any of publication the remainfunds held by him. Payments and said improvements, clause or provision ing attached hereto in such transout of said fund shal be made paragraph all installments thereof, all I ,east 15 daf Pnor to tte re maturity at the rate of four feree to the same extent for City Treasurer in the manner ing provisions of this ordiprovided by the laws of the nance. interest thereon, and all penal-- 1 demption date, in a newspaper upon warranto drawn by reason be held to be Pay-nm circulation rralinnuem, State of Utah and the ordi general pabE Section 13. manthe City Auditor. That in the same or unenforceable, the invalid- ties accrued, in the livery under like nances of said City. of the City Council of and at the same time or son. Crty, and a copy of such annually on the first day of stances opinion Section 3. Interest and Pen- ity or unenforceability of such inof any negotiable shall be sent by regist April in each year, both prin Section 8. That the officers Payson City it is necessary to alties. All excess charges and section, paragraph, clause or times in the manner prescribed notice mad struments payable to bearer; of said City be, and they here- the 5 east a I days 8 of said erfd No. interest payand the being said Ordinance peace, health and safety of collected cipal City by by penalties sbaji not affect any to the redemption date able in lawful money of the (b) the obligor and any agent by are, authorized and direct- said City that this ordinance Treasurer for the benefit the treat of the remaining privisions of City, adopted and approved Pnr of the obligor may ed to take all action necessary shall take effect on the 16th day of March, to Lauren W. Gibbs Salt Lake United States of America, at credit of any special improve this ordinance. abimmeliately Ntah, as agent for the Zions First National Bank, bearer of this bond as the all or appropriate to effectuate upon its passage, approval and ment fund and remaining on Section 11. It is necessary 1960, and all other ordinances p1 for hereof owner solute the provisions of this ordi publication, and that an r for the immediate or laws thereunto appertain-- 1 bondholders, and an addition-ing- ; Salt Lake City Utah, upon, hand after all the bon j g and shall not be af- preservation a cPy shall be sent by regist-saiof nance, including, without limitsurrender to is hereby declared. and and and disburse Pect warrants, together with inter-- 1 pay peace health and safety any notice to the ing generality of the forego emergency 15 days prior presentation by naail at least ered annexed the of assessThat and tax sai est thereon, drawn against this bond and after its special immediately o said payson city and the of the principal contrary; (c) ing, the printing of said bonds adoption, this ordinance shall ments, the installments there-- 1 t0 the redemption date to Zions coupons as Uiey severally be- special improvement fund shall- inhabitant3 thereof that bond on interest fte Lake and the excution of such cer- be signed by the Mayor and have been fully paid and can- Qrdnance become effective of, the interest thereon, and First National Bank, Salt sha11 come due- If upon presenta- - shall and utah- Such notlce tificates as may reasonably be City Recorder and shall be at maturity, payment of bon celled, shall be transferred by immedjately. An emergency penalties thereto, to any per-- 1 Clty cou. and each of the numbers or number the specify said hereas ento the required by the purchasers recorded ir. a book kept for not son or Treasurer bond the City this paid is persons lawfully is hereby declared g appertaining thereto thereof, relating inter alia, to that of the bonds to be so redeephereon purpose and shall be pubspecial improvement guaranty ordjnance ghaii be jn effect titled thereto. provided, transferable. free from the signing of the bonds, the ed (if less than all are to be shall contmue at the rate of lished in one issue of The Pay-so- n und Section 3. That for the pur- on the date of its passage, lnd tQ any without regard tenure and identity of the redeemed) and the date fixed eight per centum Chronicle, a newspaper Section 4. Payment of Bonds approval and publication, pose of defraying in part the and shall annum until the principal equities between the obligor municipal officials, the am- published redemption, and having general ' When any PASSED AND ADOPTED cost and expense of making and Warrants. or any original thg that on such re ounts certified on the assess- circulation in Payson City. full. m is drawn or warrant said otherwise and paid coupon or Council of the bond, by mediate holder hereof, any ment roll, together with the acquiring City Payson wiU be-date Passed by the Council and This bond is one of a series or against any special improve- city, County of Utah, State improvements, there be issued ble be d and due amount of payments received, of Payson City, City of County ment fund is presented to the0f Utah, and approved by the in the name of Payson City upon each bond so to be re-- subject to prior redemption in (d) the surrender to the desI Utah, State of Utah, and apnumerical order at or or any agent of the obligor the accuracy of property City Treasurer for payment, Mayor this 16th day of May, bonds designated Payson City dmed at Zions First Nation the receipt of the proved by the Mayor, this of the City, on any o thjs bond and each of the criptions, and there is not a sufficient igeo. Bank, Salt Lake City, Utah, the option the delivery 16th day of May, 1960. a price, purchase whenamount in said special im-- 1 G. Osmond Dunford, interest payment date, coupons shall be a good of the and the absence bonds, G. Osmond Dunford which! there is sufficient money charge to the obligor for the of provement fund against Mayor, or threatlitigation pending the same, to Speis Mayor drawn Utah, pay it the Payson City, same (SEAL) ened the validity of (SEAL) redemption date and the stip- - in unless otherwise requested by I Attest: . IN WITNESS WHEREOF, the affecting cipal amount of $61,800.00, .ulated premium, and that cial Assessment District No. bonds, if such is in ac- Attest: the holder, payment therefor Edward H. Bates, consisting of 74 bonds num- - Irom and aIter suctl date in 1958-- 1 Bond Fund to permit payson City, Utah, has caused cordance with the facts. warrant Edward H. Pates a 1 at to bered consecutively from shall be made by this bond to be signed by its city Recorder Section 9. That any holder iterest will cease to accrue. such prior redemption, the to City Recorder its 74, both inclusive, which bonds N principal drawn by the City Auditor Mayor, countersigned by oeen given in price equal of any one or more of said shall bear interest at the rate ouce navmg amount of each bond so re-- j city Treasurer, attested by its against the special improve- I bonds, or any of the coupns Ordinance NO. 10 with accrued city Recorder and f ne'half ent" ment guaranty fund. YOUR SHARIS M AMERICA bond or bonds so deemed, together the vided, interest thereon, representing annum the froml alledJ redemption city Auditor, and its corporate per Section 5. Purchase by City. an ORDINANCE RATIFYING, um (4 shall interest to law at or either in redemption may, equity, date to maturity, payable become due and and a premium of one seai to be affixed thereto, and In the event that any property payable on date suit, action, mandamus or April 1, 1961, and annually the redemption date so desig- - years interest on each bond the annexed coupons to bear by is sold to the City at tax sales other appropriate proceeding on said of dethe of first thereafter redeemed. facsimile so the for day foreclosure signature or under in any court of competent jur- BUY U.S. SAVINGS BONDS & STAMPS naed and uPn presentation April in each year, and shall This bond is one of a series of City Recorder and f together with all ap-linquent special improvement enforce and compel isdiction, special improve- - City Auditor, and this bond the performance of taxes, said purchase shall be purtemlnt coupon maturing seventy-fou- r any duty A super camera that can as of the first to dated be day made by warrant drawn against to the redemption ment bonds numbered from imposed upon the said City by take pictures at the rate of in-- 1 of 1960. tation at maturity, payment subsequent both seventy-fouto April, the special improvement guarwill pay at one the provisions of this ordin- two million frames of any bond is not made as date Payson Citynt" tank per second elusive, issued by Payson City, anty fund. All proceeds from the said ance, W111 including, without limit- is used at the Naval Ordnance interest bond or bonds so called for all of which are of like date herein provided, the redemption or sale of proping the generality of the fore- Laboratory, Silver Spring, Md. thereon shall continue at the and designation and aggregate erty sold under foreclosure or redemption. going, the segregation of the to show exactly what happens centum of rate of Sixty-On- e eight per of certificates to tax sale held Section 4. That said bonds the total amount Hundred Dolspecial tax and assessments, when an explosive detonates. annum until the into principal be per shall paid Thousand Eight by the City and the proper application are thereon and interest full. is in Said thereof paid the special improvement guar($61,800.00). lars at as op out and of, bonds and the coupons there- payable solely of this bond and anty fund. to attached shall be payable security for such payment thePayment thereon shall be A interest Section 6. Replacement there is hereby pledged, a of United the lawful in money is made from. of fund. Whenever there of America at the Zions cial fund designated the Tay-FirCouncil not a sufficient amount of of WHEREAS, theinCity Assess-Citson Utah, City, special the County National Bank, Salt Lake Payson City, of Utah and State of Utah, Utah. Said bonds shall ment District No. 1958-- 1 Bond (Coupon Form) Payson City, Utah, Special ha3 heretofore re. be numbered, shall be in de- - Fund (hereinafter sometimes Assessment $45.00 No. 1958-- 1 District 4.50 the quisite proceedings for making nominations and shall mature designated the Bond Fund, Bond Fund containing 22.50 curb, gutter and sidewalk im- serially in regular numerical containing the receipts deriv receipts derived by said City ATTENTION provements in what is com- order on the first day of April ed hy said City after the 28th after April 28, 1960, from the No April, 1960, from the On the fust day of April, "Payson in the years indicated, as fol-- 1 day monly designated special taxes and assessments- 19 . Assessment District lows in(unless the bond to Special the property levied upon No. 1958-more particularly GOLFERS ! ! eluded in said District in said which this coupon is attached - has been called for prior described in Ordinance No. 5 of g City for the purpose of pay- demption,) said City adopted and approvPayson City, Counin part the cost of making ed the 4th day of Mry, 1959; Why buy new expensive curb gutter and sidewalk im- - ty f Utah, State of Utah, will Golf Shoes? the bearer hereof and by Ordinance No. 8 adoptprovements in said District pay ed and approved the 16th day FORTY-FIVin and AND NO100 of, virtue under, by LET of March, I960, said City DOLLARS with, the Con- full conformity Council has validly levied a stitution and laws of the State FOUR AND 50100 DOLLARS 63 special tax and assessment in AND 50100 inch of Utah and certain ordinances TWENTY-TWthe amount of $62,068.20, upDOLLARS and resolutions of said City! on the blocks, lots, or parts HOE inch and made law jn iawui money of the United passed duly thereof and pieces of ground to the issuance States of America, out of a thereof 44 prior ERVICE specially benefited by said iminch size... hereof. fund designated the special provements, and fronting or It is hereby certified that Payson City, Utah, Special Put full Soles, Heels and abutting upon or adjacent to Other sizes priced proportionately low! authorized by Ordinance Assessment District No, 1958-as Spikes on your own comsaid streets, to defray the cost and No. 9, adopted approved Bond Fund and out of the LIFE-LON- G fortable used pairl of constructing and making the 16th day of May, 1960, and Citys special improvement said improvements, all in acpublished by authority of the guaranty fund, at Zions First cordance with the statutes of SPENCES SHOE City Council, a special im- National Bank, Salt Lake City, the State of Utah providing XSAC" provement guaranty fund has Utah, being one years interest therefor; and been created and said City on its Payson City, Special SERVICE WHEREAS, said special tax agrees that at all times during Improvement Bond, Special was made payable in ten equal 160 South Third East the life of this bond and until Assessment District No. 1958-Qis annual installments on or rfpm ajjfi thereon in full, said Series April 1, I960, and bearpayment Utah Payson. the 1st day of April in mainfund shall be at all times ing each of the years 1961 to 1970, l I I l tained as therein required. No. both inclusive, bearing inter-- 1 est at a rate of four and one- half per centum per annum, as provided in said No. 8, or, in the at the option of the owner or owners of the property so assessed, one or of such installments in the order payable, or the whole tax, was made payable with- out interest on or before the 28th day of April, 1960; and WHEREAS, the City Treas-- 1 urer of said Payson City has given the requisite notice of the levy of said special tax; and WHEREAS, there remains unpaid of said special tax and assessments by the property owners of said blocks, lots, parts thereof, the sum of $62,068.20; and WHEREAS, said Payson City has determined, and hereby determines, to issue its special bonds in the sum The Payson Chronicle, Payson, Utah (4) I (8) I I ce io here-alternati- I io pay-Cit- or io I de-tio- 1 1 I is-- is cou-UTA- H I I exceed-improveme- nt rtann im-lha, d r 1 . 1958-1,- I I I I 35? here-ON- E I - T '"S lit 1 er orrpyon I v d 1 m - Lj - (8)P inter-here- of oblig-inver- se I set-of- fs cross-claim- s; I dis-ev- er I . Ex-offic- io I I I I fr Ex-offic- io ZtZ I r, I (8) I I 03333333 spe-Stat- es st y, I now is the 1, TIME TO re-in- HEADGATE E S PENCS 4 O "8 size. ..$3 size...$466 10 5 1 SERVICE NO UPKEEP! I iiQISD3BQIS8 1, be-Ifo- re Ini i |