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Show .l 4 J6 7 .' 'X x 1 V V f ' - i -7 1JL 'A Springviile Rier Killed In Action Oyer Axfr Europe vsPfgQVlllEFpur days af t- , r recelylnr word of the death of ,er son bt Tom L. Anderson, in a '-( .": jwuie, jura. fuen I s'word of the birth of a baby daugh- y iormer- Kayiene stein, at wicnita, "-$ Mrs. Anderson received word of Tier sdn's death on Saturday, April . 22, staging that he waa killed April ',' tit ,a nM wa TT!iimVii anf sh(P baby daughter was born ,A Anderson left for overseas a'- duty,' January 150. 1944, and went Winto Pom hat rinfv In-March. He ,30 1943, and' his wife has een" residing at Wichita, Kan. ' He is survived by his widow 4nd baby daughter, also his moth er, a teacher in Mapleton schools; fyy.tw brothers, Floyd M. Anderson 4" with the army air corps stationed fi at Luke-Field, Ariz.', who is on if furlough. here now, aiid.Don.and Elaine Anderson, Springville y hi VAferandmother. Mrs. N. EL. Whit- i 'ixnore; Springville ; , a grandfather. Wyo' , - :' , iLtvAndemoil's father. Thomas jJ&Vefc Anderson,' a,- veteran of . world- war I, who, saw action in rmy of" occupation In Germany yea,r was Killed in a truck ac cidentn J938. . . kvernor Coming Show SPANISH . FOI Governor Herbert B. Maw. ha written to John E. Booth, president of the yiptah State Junior Livestocfchaw, that he shall attend the lives show, on Governor's day, F"riday, jA&yG, and participate' In thepro-irm thepro-irm for that day. Governor Maw i will be accompanied by Mrs. Maw ' and the Commissioners of Aerri- ' culture. Tracv Wellinc Don Kee- ney and vernei sergeson. , JThe safety glass used in wind shields of - warplanes is semi-: semi-: tempered, so that a thinner glass -"Will give strength edual to a ' heavier glass, permitting a heavier i oaa oi eitner gasoline, or bombs. A beautiful room tcostsony iis Gal. USE ft THE MIRACLE WALL FINISH R CO. ' Kk THEM WITH Xhi$l ,Yii, )itrt will b ubefturt In your hem tummtr. Tlity r probably thri nw (-irt waiting. Moths 'don't moU, any neisf. TKoy nok, lit J pi. nj dottroy. , t oltrt! $4f9urtf your irroplcbl clothing, woofoni, furi.Mji, drtpoi nd tipholitory by ipfyjfo TODAY WITH EN02,- the clttn, njtnt, obtain motb dttroyorl ' W EN02,- the cln. Wnant.' o-Ui motk isSl. . ECONOMY QT. SIZE ... 79c- :i ...'. . 510TH CAKES' for ; -Drawers, Luggage, etc. S Cnlie Cmnnmir Plctr. 7 v ".' .-..' J Ciant CrystaliJi lb. . .69c3 lb. 1.49 5 lb. 2.29 K 3T0RE tiQURS: 10 iLfcau ia p. m. ' ' Incfudinir Monday ProVo Oirl Playsj JuKetRoleln 'If Production 7 Algene. :BaHlf talented young Provo actress, will enact the role of Juliet in the famous Shakespearean Shake-spearean play, 'Romeo and: Juliet,' to be staged tonight, Friday and to be staged tonight and Saturday afternoon' And evening by the University theater at Kingsbury hall, U. of U. camaua. Packed! nousea saw me pay vveonesoay and Thursday nights. :.' Miss Ballif ia the daughter of Mr. and Mrs. Georee SABalUf of 836 North University av, and won high -honors in dramatic art at tne Provo wgh school and at the annual drama festival con tests t the-Brigham Young university.; uni-versity.; Since that time she has starred In several University of Utah campus productions and is already-rated one of the most promising-of the younger drama tic students at the school. i Motor Transport Parley Concluded S.lT LAK1J City.' April 28 U! Members of the Utah Motor. Transport association ended their -annual convention here Thursday after hearing Ted V. Rodgers of WashlhgtoQ, president of the American Trucking Association, describe the draft as the truckers" worst problem. ' Rodgers said many local boards failed to realize that key men had to be kept in the industry if proper service was to be maintain ed. He added that the industry Was resigned to lbsingall its eligible eli-gible under-26 men, but hoped the confusion over the; status of, older Workers could be .ended. The national association head believed that the tire situation had Improved through manufac ture of BUitable aynthetic tires and that the program of. upply ing replacement parts and some new trucks was also progressing satisfactorily. Testimonial Set For ric SPANISH FORK Members of the new bishopric of Lake Shore ward, including Bishop Jessee Tuckett sand his counselors, Thomas Youd and Norman Bel lows and Ronald Francis, secre tary, will sponsor a testimonial to the retiring bishopric, W. J. Fran cis, J. Ivan Youd, and Mark Huff, which will be- held at the Lake Shore ward amusement hall Thursday. April 27, at 8 p. m. which will partake of the nature of a. home- coming for -all former residents of the ward who are invited in-vited to attend. A fine program has been arranged which will feature brief talks by the hon ored guests, which is in charge of the Young Men's and Young Ladies Mutual Improvement as sociation. The Relief Society dir ected by their president, Mrs. Annie Huff will serve refresh- ments.. The party is free to all former residents. Roanld Francis, who was with the former bishopric as clerk will be presented witn a gift of appreciation. . $1.29 . $339 GAL. ' ' 'l '.i.i-. .-in; taiii ENOZ PARA PACK LaKge, attractive con's- tainer. Long lasting and deajefly to moths. Easily refilled. Buy one or every clothes closet! Complete and Ready to Use- Refills, each' . 69c . 59c Gai-ment Bags, Bureau Mr Sifti PL-- fi.Q "-N K Jit w W IT IE Iff Profuse Praisei Praised as , the greatest voice lever to appear on a Provo lyceum, oiau etayao, popular jyietrppouian opera star ang nrovo 'taber nacle last night iuider the auspices aus-pices ofthe Brigham Youngs University-Community Concert association. asso-ciation. ! ;The audience was exceptionally responsive and enthusiastici"jnusic critics declared : apd stated, "she did not try to,-win her audience by an undue "display of pzro- .techincs." : i ' "Bidu Sayao is unsurpassed for sheer beauty of tone and the ease with which -he handles hejr voice, even in technically difficult arias." "There is no question thjat Bidu Sayao is the most pleasing personality per-sonality On the singing platform today Although' the .lighter numbers were preferred by the audience, 'La Travaiata' an aria, was her outstanding out-standing number musically. Encored several times, she sang Summertime and the Butterfly, Chopin's piano Etude set t words. Marine Receives The Purple, Heart SPRINOVILLB Marcus Johnson, John-son, son of Mrs. Thota Balby of this city, has been awarded the Purple Heart, in recognition of wounds received in .the battle of xarawara, according to wora . received re-ceived here. He i stationed in the Hawaiian islands recovering from his injuries. - Recently prompted to I private first class in the marines! he saw action on the Gilbert Island In vasion and has served jin New Zealand and other south Pacific war zones. His wife is the former Catherine Holley of this city. Gfrl to Compete in State Finals SPRINGVILLKt Leslie Aileeh Males, daughter of Mr. and Mrs. G. Ray Hales, will compete in the state finals of a. speech contest sponsored by the office of civilian defense, in Salt Lake Citi Satur day. '; . . ; ; A senior at the local high school. she won first place in a contest held recently at Snow college, Eph-raim, Eph-raim, In which students from Snow college, Carbon college and Delta nigh school participated. Her subject was on "Juvenile De- i ( . 'i GLEE CLUB TO SING L SPRINGVILLE Kolob (stake M. I. A. is sponsoring the Tjniversity of Utah Mens' Glee club; and the university piano team in a re cital in the Springville; Fourth L. S. S. Ward chapel on Sunday, May 7, aft. 3 p. i. to wihich the public is being Invited. ; ; Legal notices Probate and ! . Guardianship Notices Consult County Clerk or the Respective Signers for Fur-' ther Information-! s AS ORDINANCE authorizing the issuance of $933,000 j Electric Revenue Refunding Bonds, Ser ies 1944j- of the City of Provo City, Utah, fiiing the details and confirming the sale of said bonds, and providing j for the payment thereof. ? WHEREAS the City jf Provo City, Utah, has heretofore issued its Electric Revenue Refunding Bonds, Series, 1942, in the amount of $1,037,000, dated December 1, 1942, in the denomination of $1,-000, $1,-000, numbered 1 to 1037, inclusive; and WHEREAS on June il 1944 there will have been paid and retired retir-ed bonds numbers 1 to 104, .inclu sive, and there will remain outstanding out-standing and Unpaid bonds numbered num-bered 1Q5 to 1037. inclusive, in the aggregate principal j amount of $933,000, bearing; interest at the rate of one and thtiee-qtiar-trs per cent and. two per pent per annum; and WHEREAS all of said bnds are callable for redemption on June 1, 1944. and John NuyceYi arid Company, Com-pany, of Chicago, Illinois, and associates have offered to purchase refunding bonds having hav-ing identfcel details with the outstanding bonds but bear ing interest at substantially lower rates, an it is accordingly desir able and to the best ; interests of Provo City to call said bonds for payment on June 1, 1944,; and to issue in lieu, thereof the bonds hereinafter authorized, bearing in terest at lower rates; and WHEREAS the Board qf Commissioners Com-missioners is authorised under tfie Statutes of Utah to "issue bonds for the purpose of refunding its outstanding bonds and has been authorized by the qualified electors 'of the City of Provo City through the adoption of the initiative ordinance or-dinance pursuant to which said outstanding bonds were i issued, whenever the Board of Commissioners Commis-sioners shall find .that said outstanding out-standing bonds can be called for payment and refunded1 at a lower rate. of interest and on tertns advantageous ad-vantageous to the city, jto authorize au-thorize the issuance of refunding bonds for the purpose of refunding said outstanding bonds, provided only that the maturities of the bonds be net lengthened and that. the interest rate borne by the bonds be not increased: NOW, THEREFORE, -Be lit and It Is Hereby Ordained 4y the Board of Commissioners bf the City of Provo Qty, Utah County, Utah, as follows: Section 1. Thatfor the purpose of refunding theoutstanding Electric Elec-tric Revenue Refundine 'Bonds. Series; 1942, described m the pre amble ' hereto, there are hereby authorized to be issued the! Electric- Revenue Refunding Bonds, Series 1944, of the City of ' Provo City., in the total principal amount of $933,000, which bonds shall beJ u.i r l t from the net rev- cnues de: from the operation of ;the el r XttPhCV ami mw plant ana system or rrovo aty, as hereinafter provided. i 1 i Sjection X. That said bonds shall lb dated June 1. 1944. shall be in the denomination of $1,000 each, shall be numbered i to 933, Inclusive In-clusive ton bear: Interest tmtu paid, payable semi-annually on the first dayaxrf June and Decern' w vuii. f uuiuueijcu 1 to 833. inclusive, at One and One-quarter (14.) per. cent per annum, ana snail mature serially serial-ly In numerical order as follows: Maturity Date Amount December 1, 1944 ....$35,000 iJune 1, 1945 36,000 37,000 , 37,000 . 87,000- 38.000 38,000 39,090 December 1945 .June 1, 1946 . December 1, 1946 June .1, 1947 December 1 1947 June 1, 1948 '. December, 1, 1948 June i; 1949 . December 1, 1949 June 1, 1950 December.!, 1950. June 1, 1951 . December 1. 1951 June . 1, . 1952 '. December 1, 1952 June 1, 1953 December 1, 1953 June 1, 1954 December 1, 1954 'June 1, 1955 . 39,000 40,000 40,000 41,000 41,000 43,000 44..000 44,000 ; 45,000 I 45,000 j- 46,000 1 December 1, 1955 41,000 ; Section S. AH of said bonds shall be redeemable numerical order? on any interest payment date irior to maturity upon payment of the principal amount thereof'! plus all interest due and unpaid to the date for which 7 they are' called for pay ment plus a premium eauivalent to one year s interest on each bond so called for redemption. Notice of call shall be given by publication of an appropriate notice at feast once not less than thirty days prior to the date fixed for redemption redemp-tion in a financial newspaper pub lished in the City of Chicago, Illinois, Il-linois, and by notices to be sent by registered hiall not less than uurty days prior to tne date fixed for redemption to the place ' of payment and to. the holder of each bond called for redemption which is regisierea as to principal Section 4. That said bonds shall be payable both principal and in terest in lawful money of the United States of America at the American National Bank and Trust Company of Chicago, in the City of Chicago, Illinois, and shall be signed by the Mayor of the City of Provo City, and shall be countersigned by the City Record er, and shall nave the corporate seal of said city, impressed there on, and the interest coupons at tached to said bonds shall be ex ecuted with the facsimile signa tures of said Mayor and Recorder, which officials by the execution of said bonds, shall adopt as and for their own proper signatures their respective facsimile signatures ap pearing "on said coupons. Section 5. That upon presentation presenta-tion at the office of the City Treasurer of the City of Prove- City , of any of said bonds, such bonds may be registered as to principal in the name of the owner thereof on the books of the treasurer treas-urer to be kept for that purpose in his office, which' registration shall be noted on the reverse side of the bonds by Ue treasurer, and thereafter the principal of ' bonds so registered shall be payable only to the registered holders. their legal representatives or as signs. Bonds so registered may be transferred to other registered holders or transferred to bearer upon presentation to the City Treasurer with a legal assignment duly acknowledged; or proved. Registration of any of said bonds as to principal shall not affect the negotiability of the coupons thereto attached and said coupons cou-pons shall continue to be trans-ferabtexby trans-ferabtexby delivery. Section 6. That said bonds and coupons and the blanks to appear on the nack tnereor snau be in substantially the following form :f (Form of Bond) ' l UNITED STATES OF AMERICA STATE OF UTAH COUNTY OF UTAH CITY OF PROVO CITY ELECTRIC REVENUE REFUND ING BOND SERIES 1944 . Number $1,000 The City of Provo City, in the County of Utah and State of Utah, for value receivedi hereby prom ises to pay. to the bearer, or if this' bond be registered to the registered regis-tered holder hereof, out of the special fund hereinbelow designat ed; and not otherwise, the sum of One Thousand Dollars $1,000) on the first day of -f -. 19- with interest thereon from the date hereof until: paid at the rate of .per cent ( ) per annum, payable December 1, 1944 and semi-annually thereafter on the first day of June and the iirst day of December of each year upon presentation and surrender of the annexed Interest coupons as the ! same severally mature, both principal and interest being' payable in lawful money of the United States" of America at the American National Bank . and Trust Company of Chicago, in the City of Chicago, Illinois. This bond may be called for redemption re-demption at the option of the City on any interest payment date upon payment of the principal sum hereof, accrued interest to the date' fixed for redemption, and a' premium equivalent to one years interesst hereon. If 'this bond - is so called thirty days' notice is to be given by one publication in a financial newspaper published in the City of Chicago, Illinois, and by registered mail to the place of payment hereof and, if this bond be registered "as to principal, to the registered holder hereof. This bond' and the issue of which it is one ire issuedby the City of ; Provo City pursuant to ordinance ordi-nance duly enacted and pursuant pursu-ant to authorization duly granted by a majority of the qualified tax- paying electors of said city voting at an election held on the 25th day of May, 1940, for. pie purpose of refunding a like par principal amount bf outstanding Electric Revenue' Refunding Bonds Series 1942,heretofore issUedfor- the purpose bf refunding a like par principal amount of revenue bonds tat aald city oxgrinaliy Issued for payable solely ye4 acquiring an electric light 'andt the price of par and accrued power-plant .' and system . in ; full conformity with the constitution and laws of -the State Of Utah. Both principal of and interest on this bond and the Issue of which it it a part are, payable, together with the unrefunded part iof the original authorized Issue, when issued, is-sued, solely front a special -fund designated as tha "City of Provo City Electric Revenue Bond Sinking Sink-ing Fund" into which fund aire to be 'nlaced the net revenues derived and to be derived' from the oper ation of said electric power and light plant and system, all as more fully described and provided in the ordinance to 'which reference, is above made. The .city has covenanted i and agreed: and does hereby covenant and agree that it will fix such rates for the sale of electricity and will -collect and account for the revenues to be received for the sale Sale of such electricity, that the net revenues so received will be sufficient promptly to pay. the principal of and Interest on this bond and the issue of which .it 42,000. forms a part, and the unrefunded 42,000 part of the Original authorized is-43,000 is-43,000 sue, when issued, as each becomes due. , . This bond, may be registered -as to principal in the name of the holder on the books iof the City Treasurer of Proyo . City, In the office of the treasurer, such reg- Utration to be noted- on the back hereof by the treasurerj after in inverctlwh'.'-.h no "tranrfer hereof sh?.U L valid unless made on said books and similarly noted on the back hereof, but this bond may be dis charged from registration by being transferred to bearer, after which it shall be transferable by delivery, deliv-ery, but may be again registered as before. The registration of this bond as to principal shall not re strain the negotiability of the coupons hereto attached , by de livery merely. Each and every successive holder of. this bond dur ing such time as it is payable to bearer and such holder of each or the coupons hereto attached are conclusively presumed to forego and renounce his and their equities equi-ties in favor of- subsequent holders hold-ers fcr value without notice, and to as r ,-e that this bond while so payat I to bearer, and each of the coupon hereto attached may be negotiated by delivery by any person per-son .having possession thereof. howsoever such possession may: have been acquired, and that any holder who shall have taken this bond or any of the coupons from' any person for value and without notice, thereby nas acquired absolute abso-lute title thereto, free from any defenses enforceable against any prior holder and free f r'Om all equi ties and claims of ownership of any such prior holder. The City of Provo City and its officials and the American. National Bank and. Trust Comoanv of Chicago shall (not be affected' by any notice to the contrary. It is hereby certified, recited and declared that all acts, conditions and things required to exist, hap-j pen and be performed precedent to and in the- issuance of this bond have existed, have happened and have been performed in due time, form and manner as re- auired bv law. that the amount of this bond, together wttn tne issue W which it forms a part does ndt exceed any limitation pre scribed by the constitution and Statutes df the State of Utah, that an amount, of the; revenues to be derived from the electric light and power plant and system of said city has been pledged and will be set aside into a special fund by said city sufficient for the prompt payment of the principal or ana interest on this bond and the is sue of Which it forms a part, and the unrefunded part of the .orlr-fe inal authorized issue, when issued antf that the revenues of said Plant and system have not been pledged, hypothecated or anticipat ed in any way otner tnan oy me issuance of such bonds. IN TESTIMONY WHEREOF, the City of Provo City, Utah, has; caused this bond to be signed by its Mayor and countersigned py itsi Citv Recorded under the cor pojrate seal of said city, and has caused the interest coupons hereto here-to attached to be executed by the facsimile signatures of said officers, offi-cers, all as of the first day of June, 1944. Mayor Countersigned: City Recorder (Form of Coupon) Number- On the first dav of 19 -; the City of Provo City, Utah County. Utah, will pay to bearer - Dollars ($ -) in the man- ner and out of the fund described in the bond to which this coupon is attached, and not otherwise, inl . .1 fl.:..j O .nl lawiui money oi uie uiuieu ok of America, at the , American Na tional Bank and Trust company of Chicago, in the City of Ch cago. Illinois, for interest due that day on "its Electric Revenue Re-i funding Bond, series oatca June l, 1944, and numoerea Mayor Countersigned: City Recorder XForm of Auditor's Certificate) I. the undersigned duly qualified nnri nctinc Auditor of the Citv of Provo City, Utah County, u tan, 0.0 hereby certify mat tne witnin bond is within the lawful debt limit of Jthe City of Prova City, Utah, and is issued according to law. . Witness mv official signature this day of , 1944. Auditor (Form of Registration CerUficate) i . I In WhoM I pt of I Nam J Signature of Registration Rgglatered CUy Traaurer ' T-i 1- - '; ' i I 1 1- Section 7. That the offer of John Nuveen and Company, of Chicago, Illinois, and associates- to purchase pur-chase the bonds herein authorized Interest tof the date of delivery is nereby accepted and the Mayor and -City Recorder are authorized! to have said bonds printed and executed as soon as may be after me adoption of this, ordinance and thereupon delivered to said. John Nuveenancl - Company; and elates In accordance '! with thai terms of said offer, i . Section 8. That notwithstanding anything in this ordinance else where contained, the principal of and interest on said bonds shall be payable only1, out of the net revenues, derived and toi ba derived from said electric light and power plant and system of the City of Provo . City, and in no vent. shall said bonds or the interest accruing thereon be deemed or construed to be a general indebtedness - of said city or payable from any funds of said city other than those derived from the operation of said plant and system. Section 9. That, from and after the delivery of any bonds issued Under the provisions of this or dinance the income and revenues! of the electric light and power plant kind system of. said city, as said plant and system now exist, together with all extensions and improvements which may here- ! after be made tnereto, shall con tinue to . be set aside into a separate sepa-rate and special fund,' and, except as hereinafter otherwise" provided, shall be used in maintaining and operating ' said plant and system, and after the payment of the rea- sonaoie. proper and, necessary maintenance and operation- ex penses ' of said plant and , Bysten snau, wo me exieni nereinaiier provided, be used to pay the principal prin-cipal of and interest on the bonds herein authorized, and the unrefunded un-refunded part of the original authorized au-thorized issue, when issued. Thflre shall be continued for th benefit of the bonds hereto authorized author-ized and the unrefunded part of the the original authorized issue, the special fund known as the "City of Provo City ElCctrtc Revenue Rev-enue Bond Sinking Fund," into which there shall be, set aside from the earnings of said Electric light and power plant and system (after the payment of the necea-sarv necea-sarv expenses jof maintaining and operating said system, as in theJ last above paragraph provided) such portion of said revenues as will be sufficient to' pay the in terest on and principal of the! bonds -herein authorized as the same become due, and the unrefunded unre-funded part of the original author ized issue, when issued, and it is hereby determined that the amount to be so set aside into said sinking fund in each fiscal year ending on May 31st shall be fully sufficient to pay the principal prin-cipal of and interest on said, bonds falling due on - December 1st i of such fiscal year and principal of and interest on said bonds falling fall-ing due on the June 1st succeeding succeed-ing the close of such fiscal year, together with an amount equal to ten per cent (10) of tha amount so required to be. paid for prin cipal and interest. Such payments into said sinking sink-ing fund shall be made in equal monthly installments on the first day of each month, except that when the first day of any month shall be a Sunday or a legal noli day then such payments shall be made on the next succeeding secu lar day. Such sinking fund shall bed: used solely and only; and is here- bv pledged for the purpose of pay ing the interest on and retiring principal of the bonds herein au thorized to be issued, and the un refunded part of the original au thorized . isSue, when issued, through .payment or 'purchase as hereinafter provided. If at any ? J&EtiTm above stipulated, then an amount equivalent to such deficiency shaUfhave been replaced by otner prop be paid into said sinking-.- fund from net earnings of said plant and Bystem as soon as available. and in addition to the amount otherwise reauired to be so set apart and paid into said sinking fund. Any balance or tne net earnings in excess of tne pay ments hereinbefore- specmea to be made into said sinking fund shall be available to the city aai the Board of Commissioners may from time to time direct, and whenever there shall be m the sinking fund money more than sufficient to pay all principal and interest' falling due during the next succeeding six months, and in addition a reserve fund of $25,-000. $25,-000. such surplus, over and above said reserve fund of $25,000 and the amount so needed for principal and interest falling due during the next six months, shall be used by the city to purchase bonds herein authorized, and ' the unrefunded part of the original authorized issue, is-sue, when issued, and then outstanding out-standing on the' open market at the beat price or prices obtain able, but not exceeding the price Kor prices at wnicn sucn Donus could be redeemed under their op tional feature. If insufficient bonds to exhaust the surplus can be purchased at Such price; or prices, then the city shall call, for pay-mentVon, pay-mentVon, the next" succeeding in-terestWyment in-terestWyment date an amount of bohd.Nsufficient to exhaust the surplus. Bonds shall continue to be so purchased, or called from Um to time whenever surplus mOney-w availahle and all hohds SO nurchaS- ed or redeemed shall be cancelled and snau not De reissued. All accrued interes-t received from the purchaser of said revenue bonds at the time of the delivery thereof shall be paid into said sinking fund. Ml money held in said sinking furtd shall be deposited in a bank approved as a regular depositary by the State Depositary Board and so far as permitted by law such deposit shall , be continually secured by a -valid pledge, of di rect obligations of the , United States- Government- having an equivalent market value, or surety bond written by a solvent surety company of recognized standing: Section 10. That the Cityof Proyo Ctty hereby, covenants and agrees -with each ;'and every hold er or. the bonds issued hereunder: (a) That while the bonds auth orized herein or any of them remain re-main outstanding and unpaid, the rates for all electricity sold by the said, electric light and power plant and system to said city and to its citizens, and , to all con sinners within or without the boundaries of said city, shall be reasonable and just, taking' into account and consideration the cost and value of said plant ad ays-tern ays-tern and the Cost of maintaining and operating said plant and sys tem, and .the proper ,and neces- atsso-jjgary allowances for the deprejtfa uon thereof and the amounts necessary for the retirement df all bonds, and- the ; accruing interest on all such bonds as may jbeJ issued hereunder, and the unrefunded unre-funded part of the original authorized author-ized issue, when issued, and there shall he charged against all purchasers pur-chasers 'of said electricity, including includ-ing said city, ; such rate and amounts, as shall be adequate to meet the requirements of this and the preceding sections hereof, an pt which revenues. including those received from the city, shall be subject to distribution to the pay ment of the Cost of operating and maintaining the plant and system, sys-tem, and theretirement of principal prin-cipal of and payment of interest on the bonds herein authorized, and the unrefunded part of the original authorized issue, when issued, as hereinbefore provided; (b) That the city will maintain said electric light and power plant and system in good condition and operate the same in an efficientTiar and accrued interest as may manner and at reasonable cost; (f) That .the city will keep proper books, records and ac counts separate from all other rec ords and accounts, in which com plete and correct entries , shall be maae or an transactions .relating to the system. Said books and accounts shall be kept as pearly as may be In accordance with the rules and regulations established by the Utah State Public Utility Commission for privately owned utilities. The city will furnish to any holder of any of the bonds issued hereunder upon written request re-quest after the dose of each fiscal year complete -operating and in come statements of the system in reasonable detail covering such fiscal year: ( d) That the holder or holders of twenty-five per cent (25) in aggregate principal amount o; bonds issued hereunder at any time outstanding shall have the right at all reasonable times to inspect the system,, and all rec ords, accounts and data of the city relating thereto, and that upon request the city will furnish to twenty-five, petf cent of such holders such financial statements and Other information" relating' to the city and the system as such holder or holders may1" from time to time reasonably requrre (e) That the city in its opera' tion -of the. system will carry fire insurance, workman s compensa tiort insurance and public liability insurance, in such amounts and to such extent as is normally carried by private corporations operating public utilities of the same- type The cost of. such insurance shall be considered one of the operating operat-ing costs of the system. In the event of loss or damage, insurance proceeds shall be used first, for the purpose of restoring or re placing the property lost Or dam aged, and any remainder shall be paid into the "Electric Revenue Bond Sinking Fund," and shall be subject to distribution in the same manner as are other moneys in said fund: (f) That the city will not; sell. lease, mortgage, or in any man ner dispose of the system, or any part thereof, including any and all extensions and additions mat may be made thereto, until aR of the bonds herein authorized to be Ss- ssued shall have been paid in full. both principal end interest, except that the city may sell any portion por-tion of said property which shall erty of at least equal value, or which shall cease to be necessary for the efficient operation of the system, provided however, that inl the event or any sale as aioresaia the proceeds of such sale shall be first paid Into the "Electric Revenue Bond Sinking Fund," and distributed as are other moneys in safd fund; (g) That in the event of default on the part of the city &i paying principal of or interest on said! revenue, bonds promptly as each) falls due, or in the keeping of any covenant herein contained. nd if such default shall continue for al period of sixty (60) days, the city will appoint a manager ror tnca system, which manager shall havej full control oyer tne system. an shall operate the system for tin City of Provo City, and shall en force such reasonable rates and charges, as will be sufficient to make the payments required by this ordinance, and shall in all things so operate the system as to fully .comply with all of the requirements and provisions of this ordinance. The right of. the holder or ; holders of the bonds herein authorized , to ' require the appointment of such manager shall not be exclusive, and in the event of default as herein, outlined, such holder Or holders shall have the right to proceed in law or equity to require the performance of the covenants herein contained in any action which to them shall 'seem appropriate; (h) That the dity will hot permit per-mit any other electric light and power plant or distribution sys tem to be operated within. the boundaries of the city while any of the bonds herein authorized remain re-main outstanding and unpaid. Section 11. That the bonds au thorized to be issued hereunder and from time to time outstanding shall not be. en titled to any, priori ty one. over the other, and the un refunded part" of the original authorized au-thorized issue, when issued, in the application of the' revenues of said plant and system, regardless or the time or times of their issu ance, it being the intention of "the Board of Commissioners that there, shall be no priority among the bonds authorized to be issued suant to this .ordinance regardless of the fact that they may be ac tually issued and delivered at dif ferent' times. It is nereby ex-oresslv ex-oresslv agreed and " covenanted that the City of Proyo City will ot hereafter issue any bonds or obligations, payable from the rev- ienes or tne system, otner voan the unrefunded part of the original authorized issue, until all bonds herein authorized have been paid I ' 4 1b fun. unless bonds are issued in such manner that they are in all respects sub ordinate-to the bonds herein; auk-' thorized. ' . , V.. ' Section 12. That if at uv.Umt- after the bonds herein authorized,! or any part, thereof, shall 'have been issued the Board of Com- ' missioners shall find that isaid bonds can be caUed for payment ana reiunaea at a lower rate or interest and on terms advanta ous to the city, the Board Of Co) missioners shall have authority t authorize the issuance of refund Ing bonds for the purpose of re such additional funding said outstapdmg bonds' in i whole, but not in nart. ' Said re- funding' bonds shall be secured th all respects as are the bonds here in 'authorized and shall be issued with such details as the Board of Commissioners may provide, provided pro-vided onlV that the maturities of Ljlhe bonds are not lengthened arid that the interest rate to be borne by the bonds is pot ' increased. After refunding bonds are so issued, is-sued, the holders thereof shall Be subrogated to all of -the rights a'ndi privileges enjoyed - by th holders of the ' bonds, ( refunded thereby: Such reftmdlrig bonds 1 may either be sold by the Board of Commissioners in such manner. and at such price not less than be determined by the Board of Commissioners or if the holders of the bonds to ' be' refunded 'are willing to surrender such bonds tha; refunding bonds may be delivered to such holders in exchange, for a like principal amount or amounts of outstanding bonds. . Section 13. That the bonds herein here-in authorized shall be delivered to the purchaser thereof on June X, 1944, and the proceeds of the sale ' ' thereof shal be escrowed with the American National Bank and Trust Company of Chicago, Chi cago, Illinois, to- be held solely for the payment of the bonds herein authorized to be refunded and called for redemption on- said date. There shall be also deposited .with said bank a sum of money sUfy ficient to pay the principal falling due on June 1, 1944 on bonds num bered 70 to .104,' inclusive, of the outaandlng issue, interest due on June 1, 1944 on all outstanding, bonds of the issue-and redemption premiums payable on tne out standing bonds called for redemp tion an said date. Section , -14. That the holders from time to time of the bonds herein authorized shall be and are . hereby subrogated to all. of the; Frights 1 and privileges enjoyed bjsf tne noiaers or .tne ocnas rpiunaea thereby. i Section- 15. That the provisions of this ordinance shall, constitute a contract between the - City of Provo City and the holders fromv time to time of the bonds herein authorized to be issued, and . that after the issuance of any of Such bonds no change, variatIone alt eration of any kind in thre provisions pro-visions of this ordinance shall be made ' in any manner, except as " herein provided until such time as all: of the bonds issued hereunder here-under and Interest V due thereon have been paid n ulL , Section 16. That said plant, and system shall continue to be operated oper-ated by the Electric Utility Board of Provo City, Utah, of the Cittf of Provo City in all respects as is now provided oy ordinance or th City of Provo City; and ints 1 operation of said plant and system said ' The Electric Utility Board of Provo CUy, Uah. Shall In all respects fully observe and shall carry out and7 perform all covenants cov-enants and agreements herein made and 'entered into with re spect to the. operation of said plant and system and the .disposi tion of the revenues derived there . from. v. Section 17. That if any secUon, paragraph, clause or provision of this ordinance shall be held' to be Mnvalld or unenforceable for any mmaii uia irivaimitv or unen forceability of such section, para) graph, clause or provision sni not affect any of the remaining provisions of this ordinance. Section 18. That in order to tU feet for the benefit of the inhabitants inhabi-tants of Provo City the savings in interest rate which will arise through the issuance of the bonds herein authorized; at is necessary that the bonds' herein- authorized be- ready for delivery on June 1, 1944. and it is therefore essential to the immediate preservation of. the peace, health and safety of the City of Provo aty and its )whahftntji that this ordinance shall take immediate effect, and it is therefore ordained that this ordinance, shall be published immediately im-mediately after its passage hvtlw Daily Herald, a newspaper pub liShed and of general circulation in Provo City, shall take errect im- fmediately upon such publication, and shalj not be subject 10 reter-; enduing ' ' ' ' Adopted, approved and, recorded; April 27th, 1944. MAURICE MAKU1HO, . Majror ' (SEAL) ' Attest: ' - - - i A, G. BENCH City Recorder STATE OF UTAH r COUNTY OF UTAH ss. 1, L G; Bench, the -duly chosen ; qualified and acting City Recorder of Provo City, Utah County,. State ; of Utah, do hereby certify that as such official 1 have the custody .i of the records-and files' of the pro-' ceedihgs of the Board of Commis-. sioners of said City; that the above ,, and foregoing is a full, true,-and -correct copy .of an Ordinance passed by the Board of.Commis-i sioners of said City on? tha 27th ; day Of April, A. D. ia44, entitled t AN ORDINANCE AUTHORIZE ING THE ISSUANCE OF $933;i 000 ELECTRIC REVENUE REFUNDING RE-FUNDING BONDS, SERIES 1944, OF THE CITY OF PROVO CITY,:. UTAH FIXING THE DETAILS AND CONFIRMING THE SALE OF SAID BONDS, AND PROVID pur-tlNG FOR , THE PAYMENT1 THEREOF. IN. WITNESS 'THEREOF. . t have hereunto set my hand and affixed the corporate seal of said aty thik 27th day of Apr A, p. 1944. ' :., ! .' I. G. BENCH,. , ; f aty Recorder ! Provo CStyVtah ( SEAL) r Published In The Daily Herald April 28, 1944. e .a - i I, W j C . 1 1 -i ! - |