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Show ORDINANCE AN ORDINANCE TO CONTRACT AN INDEBTEDNESS ON BEHALF OF DUCHESNE COUNTY, UTAH AND I UPON THE CREDIT THEREOF. BY ISSUING THE NEGOTIABLE NE-GOTIABLE COUPON, GENERAL OBLIGATION BONDS OF DUCHESNE COUNTY IN THE AGGREGATE PRINCIPAL AMOUNT OF $160,000.00; PRESCRIBING THE FORM OF SAID BONDS; PROVIDING FOR THE LEVY OF A TAX TO PAY THE PRINCIPAL AND INTEREST THEREOF, AND PRESCRIBING DETAILS IN CONNECTION THEREWITH. WHEREAS, at a special election duly called and held in Duchesne County on Tuesday, the 30th day of September, 1952, there was submitted to the electors of the County; qualified to vote thereon, the following question, to-wit: "Shall lhe general obligation bonds of ihe Couniy of Duchesne, in ihe aggregate principal amount of $160,-000.00, $160,-000.00, be issued and sold for the purpose of defraying ihe cost of erecting and furnishing a couniy court house, said bonds to mature in not to exceed twelve years from the date of said bonds, and to bear interest at a raie not exceeding three per centum per annum?" WHEREAS, more than a majority of such qualified electors voting on said question, voted in favor of creating such debt and the issuance of such bonds; and WHEREAS, the Board of County Commissioners has determined, de-termined, and does hereby determine, that it is necessary and for the best interest of Duchesne County and the inhabitants thereof that said bonds in said amount of $160,000.00, be immediately im-mediately so issued. THE BOARD OF COUNTY COMMISSIONERS OF THE COUNTY OF DUCHESNE ORDAINS AS FOLLOWS: Section 1. That all action heretofore taken by the Board of County Commissioners and the officers of Duchesne County, directed di-rected toward the erection and furnishing of a county court house, and the issuance of its bonds for that purpose, be, and the same is hereby, ratified, approved and confirmed, including without limiting the generality of the foregoing', the sale of said bonds to Bosworth, Sullivan & Company. Section 2. That for the purpose of providing funds to defray the costs of erecting and furnishing a county court house, the Board of County Commissioners of Duchesne County on behalf of said County and upon the credit thereof, shall issue the negotiable, ne-gotiable, coupon, General Obligation, Court House Bonds, Series May 1, 1953, of said County, in the aggregate principal amount of $160,000.00, consisting of 160 bonds in the denomination of $1,000.00 each, numbered from 1 to 160, both inclusive, dated the first day of May, 1953, bearing interest at the annual rate or rates hereafter designated, payable semiannually on the first days of Many and November in each year, commencing November 1, 1953, as evidenced by interest coupons attached to said bonds, both principal and interest being payable in lawful motley of the United States of America, without deduction for exchange or collection charges, at the Commercial Bank of Utah, Duchesne Utah, and being numbered and maturing serially on the first day of May in each of the designated years, without option of prior redemption, as follows: Bond Numbers Years Amounts Interest Rate (All Inclusive) Maturing Maturing (Per Annum) 1 - 13 1954 $13,000.00 14- 26 1955 13,000.00 27 - 39 1956 13,000.00 40 - 52 ' 1957 13,000.00 53 - 65 1958 13,000.00 66 - 78 1959 13,000.00 79 - 91 1960 13,000.00 92 - 104 1961 13,000.00 105 - 118 1962 14,000.00 ' H9 - 132 1963 14,000.00 133 - 146 1964 14,000.00 147 " 160 1965 - 14,000.00 Section 3. That said borids shall be signed by the Chairman of the Board of County Com-misisoners, Com-misisoners, countersigned by the County Treasurer, certified by the County Auditor, and shall hear the official seal of Duchesne Du-chesne County attested by the County Clerk. There shall be attached at-tached to each bond an appropriate appro-priate number of coupons, numbered num-bered consecutively from one upwards, each coupon representing represent-ing a semiannual installment of interest on the bond to which it is attached, and securing the payment of said interest as it accrues. Said coupons shall bear the facsimile signature of the county Treasurer, and the number num-ber of the bond to which they are attached, and said coupons 1 when so made, executed and delivered as part of the bonds! to which the same are attached, i shall be the lawful obligations of Duchesne County, securing ; the payment of interest in the hands of all persons to whom they may come. The County Treasurer of Duchesne County, by execution of said bonds, shall adopt as and for his signature the facsimile thereof appearing on the coupons. Said bonds and coupons, bearing the signatures of the officers in office at the time of the signing thereof, shall be the valid and binding obligations of Duchesne County, Coun-ty, notwithstanding that before the delivery thereof, and payment pay-ment therefor, any or all of the persons whose signatures appear thereon shall have ceased to fill their respectives offices. Section 4. That said bonds, the coupons thereto attached, and the certificate endorsed thereon, shall be in substantially the following form: ( Form of Bond) United States of America State of Utah County of Duchesne Duchesne County General Obligation Court House Bond Series May 1, 1953 No $l,00p.00 The- County of Duchesne, in the State of Utah, acknowledges itself indebted, and hereby promises to pay to the bearer hereof the sum of One Thousand Dollars on the first day of May, A.D., 19 with interest thereon 1 at the rate of 2 58 per centum per annum, payable semiannually semiannual-ly on the first days of May and November in each year, com- mencing November 1, 1953, both i principal and interest being payable pay-able in lawful money of the I United States of America, with-I with-I out deduction for exchange or collection charges, at the Com-j Com-j mercial Bank of Utah, Du- chesne, Utah, upon presentation ! and surrender of this bond and ' of the annexed coupons as they I severally become due. I This bond is issued by Du-! Du-! chesne County upon behalf of I said County and upon the cred-j cred-j it thereof for the purpose of ! providing funds to defray the I costs of erecting and furnishing I a county court house under the ' authority of, and in full con-I con-I formity with, the Constitution and Statutes of the State of ' Utah, and, in particular, the provisions of Chapter 12, Title 17, Utah Code Annotated 1953, and all acts amendatory thereof and supplemental thereto, and pursuant to an ordinance of said County duly adopted, published pub-lished and made a law of said County prior to the issuance of this bond. It is hereby certified and warranted that the issuance of this bond has been authorized by the electors of Duchesne County, qualified to vote on the question, at a special bond election held in said County the same time as the general election elec-tion on the 4th day of November, Novem-ber, 1952. It is hereby certified and recited re-cited that all the requirements of law have been fully complied with by the proper officers of said County in the issuance of this bond; that the total indebtedness indebt-edness of said County, including includ-ing that of this bond, does not exceed any limit of indebtedness indebted-ness prescribed by the Constitution Consti-tution or Laws of the State of Utah, and that provision has been made for the levy and col-1 lection of annual taxes sufficient I to' pay the interest on and the' principal of this bond when the same become due. The faith and credit of Duchesne Du-chesne County are hereby pledged for the punctual payment pay-ment of the principal of and the Interest on this bond. IN TESTIMONY WHEREOF, Duchesne County, Utah, has caused this bond to be signed by the Chairman of the Board of Commissioners of the County, Coun-ty, countersigned by the County Treasurer, and attested by the County Clerk under the seal of the County, and has caused the attached coupons to be signed with the facsimile signature of the County Treasurer, all as of this first day of May, 1953. (Do not sign) Chairman, Board of County Commissioners Countersigned: (Do not sign) County Treasurer (SEAL) Attest: (Do not sign) County Clerk (Form of Coupon) No $ May, On the first day of November, A.D., 19 Duchesne County, Utah, will pay to bearer hereof, the sum of DOLLARS at the Commercial Bank of Utah, Duchesne, Utah, in lawful law-ful money of the United States of America, being six months' interest on its General Obligation Obliga-tion Court House Bond, Series May 1, 1953, and bearing No (Facsimile Signature) County Treasurer (Form of Certificate) I hereby certify that this bond is within the lawful debt limit of Duchesne County, Utah, and is issued according to law. (Do not sign) County Auditor Duchesne County, Utah Section 5. That when said bonds have been duly executed, the County Treasurer shall deliver de-liver them to the lawful purchasers pur-chasers thereof, on receipt of the agreed purchase price. The funds received from the sale of said bonds shapp be' applied solely to defray the costs of erecting and furnishing a county coun-ty court house, but the purchasers purchas-ers of said bonds shall, in no manner, be responsible for the application or disposal by said County or by any of its officers of any of the funds derived from the sale thereof. Section 6. That for the purpose pur-pose of providing the necessary funds to meet the interest accruing ac-cruing on said bonds as the same becomes due, and for the purpose of providing for the payment of said bonds as they serially mature, there shall be levied on all the taxable property pro-perty in Duchesne County, in addition to all other taxes, taxes tax-es in an amount sufficient to pay the principal of and the interest on said bonds promptly as the same, respectively, become be-come due. Said taxes, when collected, col-lected, shall be deposited in a special fund to be known as "Duchesne "Du-chesne County Court House Bond Fund, Series May 1, 1953." and such fund shall be applied solely for the purpose of the payment of the interest on and the principal of said bonds, respectively, and for no other purpose whatever until, the indebtedness so contracted under this ordinance, both prin- cipal and interest, shall have been fully paid, satisfied and; discharged, but nothing herein i contained shall be so' construed as to prevent said County from applying any other funds that may be in the Treasury and available for that purpose to the payment of said interest or-principal or-principal as the same, respectively, respec-tively, mature, and upon such payments, the levy or levies herein provided may thereupon to that extent be diminished. The sums produced by the levies lev-ies herein provided to meet the interest on said bonds and to discharge the principal thereof, when due, are hereby applied for that purpose, and said amount for each year shall be included in the annual budget and the appropriation bills to be adopted and passed by said Board of County Commissioners in each year, respectively. Section 7. That it shall be the duty of the Board of County Commissioners o f Duchesne County, annually, at the time and in the manner provided by law for levying other county taxes, if such action shall be necessary to effectuate the provisions pro-visions of this ordinance, to ratify rat-ify and carry out the provisions hereof with reference to the levy and collection of taxes, and the Board of County Commissioners Commis-sioners shall require the officers of and for said County to levy, extend and collect such taxes in the manner provided by law for the purpose of creating a fund for the payment of the principal of said bonds and the interest accruing thereon. Such taxes, when collected, shall be kept for and applied only to the payment of the interest and principal of said bonds as hereinabove here-inabove specified. Section 8. That the officers of Duchesne County be, and they I hereby are, authorized and directed di-rected to take all action necessary neces-sary or appropriate to effectuate the provisions of this ordinance, including, without limiting tne generality of the foregoing, the printing of said bonds and the execution of such certificates as may properly be required by the purchaser thereof relating to the signing of the bonds, the tenure and identity of the Coun-ey Coun-ey officials, the assessed valuation valua-tion and indebtedness of Duchesne Du-chesne County, the receipt of the bond purchase price and, if in accordance with the facts, the absence of litigation, pending pend-ing or threatened, affecting the validity thereof. Section 9. That all ordinances, resolutions, or parts thereof, in conflict with this ordinance, are hereby repealed. After the bonds hereby authorized have been issued, this ordinance shall constitute a contract between be-tween Duchesne County and the holder or holders of said bonds, and shall be and remain irre-pealable irre-pealable until said bonds and the interest accruing thereon shall have been fully paid, satisfied sat-isfied and discharged. Section 10. That if any one or more sections, sentences, clauses, or parts of this ordinance ordin-ance shall for any reason be questioned or held invalid, such judgment shall not affect, impair im-pair or invalidate the remaining provisions of this ordinance, but shall be confined in its operation op-eration to the specific sections,-sentences, sections,-sentences, classes, or parts of this ordinance so held unconstitutional unconsti-tutional and invalid, and the inapplicability and invalidity of any section, sentence, clause, or part, of this ordinance in any one or more instances shall not affect or prejudice in any way the applicability and validity of this ordinance in any other instances. Section 11. That by reason of the fact said County is not properly pro-perly or adequately supplied with court house facilities, it is hereby declared that an emergency emer-gency exists, that this ordinance is necessary to the immediate preservation of the public peace, health and safety, and that it shall be in full force and effect ef-fect fifteen days after its passage, pas-sage, or the day following its publication, whichever day is later. Section 12. That this ordinance, ordin-ance, immediately on its passage, pas-sage, shall be published for at least one publication in the Roosevelt Standard and the Uintah Basin Record, weekly newspapers published in, and having general circulation in, Duchesne County, Utah. PASSED, ADOPTED AND APPROVED, this 7th day of April, A.D., 1953. FLOYD E. LAMB Chairman, Board, of County Commissioners, Commission-ers, Duchesne County, Utah (SEAL) Attest: PORTER L. MERRELL County Clerk The motion to adopt the foregoing fore-going ordinance was duly seconded sec-onded by Commissioner Case. It was then moved by Commissioner Commis-sioner Mickelson that said ordinance or-dinance be finally passed and adopted, which motion was duly seconded by Commissioner Case. The question being upon the passage and adoption of said ordinance, the roll was called with the following result: re-sult: ' Those voting aye: Floyd E. Lamb Floyd Case Clinton J. Mickelson Those voting nay: None. The Chairman of the Board of County Commissioners thereupon there-upon declared that a majority of all the Commissioners elected, elect-ed, having voted in favor thereof, there-of, the said motion was carried, and the said ordinance duly passed and adopted. There being no further business busi-ness to come before the meeting, meet-ing, the meeting was, on motion duly made, seconded and carried, car-ried, adjourned. PASSED, ADOPTED AND APPROVED this 7th day of April, 1953. Published April 23, 1953. FLOYD E. LAMB Chairman, Board of County Commissioners, Commission-ers, Duchesne County, Utah ''SEAL) Attest: PORTER L. MERRELL County Clerk |