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Show 9 KANAB CITY the rate of four per cent WATER AND SEWER REVEper annum from date until paid, NUE REFUNDING BOND and bonds numbered 85 to 364, Number $1,000. inclusive, shall bear interest at In the County of Kanab City, the rate of four and Kane and State of Utah, for per cent (4l4) per anpum value received promises to pay from date until paid. Interest to the bearer, or, if this bond falling due on each bond on be registered, to the registered and prior to maturity shall be holder hereof, out of the special represented by single semi- - anfund hereinbelow designated nual cou ports to be thereto' at- not ahd otherwise, the sum of tached. Such interest shall be One Thousand Dollars ($1,000) payable on December 1, 1964 and thereafter pn-t- he on the first day of December, with interest thereon 19.; first days of June ahd Defrom the date hereof until paid cember of each year until prinat the rate of per cipal shall have been paid. cent ) per annum, ( Bonds numbered 85 to 364, which Interest is payable on inclusive, shall be subject to December 1, 1964 and semianredemption at the option of the nually thereafter on the first city on December 1,1974 and days of June and December of on any interest payment date each year, upon presentation thereafter, in inverse numerical and surrender of the interest order, at the principal amount thereof and accured interest to v coupons hereto attached as they severally fall due. Both princi-- , the date fixed for redemption pal of and interest on this plus a premium of bond are payable in lawful monof one per cent of the principal amount thereof for each year ey of the United States of America at Kanab Branch First or fraction thereof between the State Bank of Salina, In the City date of redemption and the date of Kanab, Utah, or, at the opof maturity of each bond so retion of the holder, at Zions First deemed prior to maturity, proNational Bank, in the City of vided that no such premium Salt Lake City, Utah. shall exceed three per cent This bond is one of an issue of the principal amount of the of $364,000 authorized and Isbond being redeemed. Notice sued for the purpose of refundof redemption shall be given amount of not less than thirty days prior ing a like principal to the date fixed for redemption Water and Sewer Revenue Bonds, Series of 1957, of said by registered mail to the holdcity, in full conformity with the er of each bond which is registered as to principal on the Constitution and Laws of the books of the City Recorder. If State of Utah. Both principal of and interest on this bond ahd any bond so called for redempthe issue of w h I c h it Is a tion is not at the time registered as to principal, at least thirty part are payable soley from a 1964 special fund designated days motice of the intended reWater and Sewer Revenue Redemption thereof shall be given by registered mail to the funding Bond Fund, into which banks at which the bonds are fund are to be placed the net revenues derived and to be depayable and by publication of rived from the operation of the an appropriate notice one time waterworks plant and system fn a financial newspaper or and sewer system of said city journal published in the City of New York, New York, or after all payments from 80.4 of the net revenues of said sysChicago, Illinois. Section 4. That said bonds tems have been made for the benefit of certain Wate: and shall be payable as to principal and interest in lawful money of Sewer Improvement Revenue Bonds, -- Series -- 1949, of Kanab the. United States at Kanab Branch, First State City, dated July 1, 1949, all as Bank of Salina, in the City of more fully described and provided in the ordinance adopted Kanab, Utah, or at the option of by the City Council of said ity the holder at Zions First Naton the 14th day of July, 1DC-ional Bank, in the City of Salt Lake City, Utah, and shall be for the purpose of authorizing this bond and the issue of signed by the Mayor and shall be countersigned by the City which it is a part. This bond is issued under and pursuant to Recorder, and shall have the Sections 1 to 21, inclusive, of corporate seal of said city imChapter 3 of Title 55 of the pressed theron. Interest coupCode, 1953, as amended; ons to be attached to said bonds and this bond and the coupons shall be executed with the fachereto attached do not consti simile signatures of said Mayor tute an indebtedness of Kanab and City Recorder, which ofCity within the meaning of any ficials by the execution of said bonds shall adopt as for their state constitutional or statutory limitation. own proper signatures their reBonds numbered 85 to 364, spective facsimile signatures apinclusive, of the isr.ue of which pearing on said coupons. --Section 5.That upon pres- - -t- his is one, are subject to at the option of the entation at the office of the City waterworks of the city AN ORDINANCE providing e city its inhabitants servjng for the refunding of $364,000- and the jnhabitants of the and Sewer Revenue rtory adjacent thereto, Series of 1957, of Ka- jng aj improvements, extensiors nab City, Utah, thorough the is- - and additions thereto which may suance of $364,000 Water and be made while any of the bonds Sewer Revenue Refunding herein authorized remains the sale confirming standing, and including all providing fdr the col- - pertyf real, personal and mixed, lection and disposition of the cf every nature or hereafter revenues of said utility; making owned by the city and used or other provisions with respect to usefu n the operation of jts the operation of said utility and water ordproperties are the issuance of said bonds ,and inance sometimes referred to providing for the payment of as the water system. said bonds. The complete sewage Kanab City, Utah ment pIant and sewer system (hereinafter sometimes called of the city serving the city its "city) now owns and oper- inhabitants and the inhabitants ates a complete waterworks of the territory adjacent thereto, plant and system for the purincluding all improvements, expose of supplying water to the tensions efid additions thereto city and its inhabitants and the which may be made while any inhabitants - of the - territory, ad- of the bonds herein authorized jacent thereto, nd now owns remains outstanding, and inand operates a sewer system cluding all property, real, per- for the purpose of supplying sonal and .mixed, of every service to said city and ure now or hereafter owned by its inhabitants and the inhab- - the used and in or useful city itants of the territory adjacent the operation of its sewer pro- thereto; and perties are in this ordinance WHEREAS said plant and sometimes referred to as the systems have, so far as practisewer system. cable, been operated as a sing'e Said combined water system utility and with a single mainhereinaftenance and clerical force since and sewer system are called the issuance of $120,000 Water ter collectively sometimes the system. and Sewer Improvement RevNothing in this ordinance conenue Bonds, Series 1 949, of shall be so construed as said city, dated July 1, 1949, tained . . , ! . now outstanding in the amount to mpair in any way the contract r'9hts vested ln the hold' of $20,000 00; and from t0 ,li.me of ,he WHEREAS said city has heretofore issued $375,000 Wat- - Water and Sew,er Improvement er and Sewer Revenue Bends,' ,Reve"ue Bonds' Series 949 re Series of 1957, dat?d December ferred to in the Preamble here to. The revenues to be derived 1, 1957, and bearing interest at from the operation of the water the rate of four and one-haor the sewer system of per cent per annum, system which bonds are now outstand- - the city, despite anything rin thls ordinance , contained, shall ing in the amount of $364,000; never be applied or disposed and WHEREAS said city has re- - of in 5uch manner as t0 violate ceived from Thornton D. Mor- - any Provision of the ordinance ris & Company and Goodbody authorizing said 1949 bonds, as 4 Co., of Salt Lake City, Utah, amended on AuSust 23, 1949, a contract anofferto purchase bonds is- - which constitutes right vested in the holders of the bonds authorized thereby. Section 2. That from and af aPton f is ordin- interest rate borne by said out- - ter ance water system and the standing obligations will be sub- sawer system shall continue so stahtially reduced, and it is the ar as practicable to be oper-i- t opinion of the City Council that as a sn9e unt and with a is to the best interests of said a. e maintenance and clerical city to authorize the issuance ORDINANCE NUMBER The - ter-Wat- includ-Bctid- er s, out-Bond- s; pro-thereo- f; one-quart- semi-annuall- his er (3) (4) are payable from the net rev- enues derived and to be derived from the operation of said water works plant and system and sewer system after all payments from 80.4 of the net revenues of said systems have been made for the benefit of said outstanding Series 1949 bonds, dated July 1,1949, and such refund- ing bonds are to be payable fromthesame revenues so that no charge will be made in the security of the obligations by reason of such refunding; ' NOW, THEREFORE, Be it and It is Hereby Ordained by IfieTity "C6iincirof KanatrCity, ,h.l pose of refunding and retiring $364,000 Water and Sewer Revenue Bonds of said city dated December 1, 1 957, more fully described in the preamble hereto, there are hereby authorized to be issued the Water and Sewer Revenue Refunding Bonds of the city in the principal amoujit of $364, 000, which bonds shall be payable from the revenues hereinafter specified. of-Am- - Sectiori 3. That said bonds shall be dated June 1, 1964 shall be in the denomination of $1,000 each, shall be numbered 1 t0 364 inclusive, and shall mature serially in numercial or- der on December 1 of each yeai as follows: Bond Numbers Amount Year 1 to 5 $ 5,000 1964 6 to 10 5.000 1965 11 to 16 6.000 1966 17 to 22 6,000 1967 23 t0 29 7,000" 1968 30 j0 37 8,000 1969 33 8,000 1970 55 64 74' 85 ;100 to- - to 63 73 84 99 to to to 115 9.000 9.000 . 10,000 11,000 15,000 16,000 1 -- - Recorder-of-Kaln- -C- ab ity,-the; holder 'of any such bond may have such bond registered as to principal in the manner and with the effect prescribed in the form. of bond set out in Section - 6 - hereof. Section 6. That said bonds and coupons, and the blanks to appear on the back thereof, shall be in substantially the following form, and such bonds shall recite that they are issued under authority of Chapter 3. Title 55 of the Utah Code, 1953, as amended: Form of Bond) UNITED STATES OF 1972 1973 1974 1975 '1976 to 84, in- , nterest at erica " Illinois. , , ah . -- Bonds numbered elusive, shall bear and the publication of an notice one time In a financial newspaper or journal published in the City of New York, New York, or Chicago, The City has convenanted and agreed and does hereby covenant and agree that it will fix such rates for the sale of water and water service and sewer service and will collect and account for the revenues to be received for the sale of such water and water service and sewer service, that said revenues will be sufficient promptly to make all payments having priority In the right to the application ofjiajdL revenues and promptly to pay the principal of and Interest on this bond and the issue of which it forms a part, as each becomes due, end to make all payments required to be made into the a bove mentioned 1964 Water and Sewer Revenue Refunding Bond Fund. This bond may be registered as to principal in the name of the holder on the books of the City Recorder of Kanab City in the office of the City Recorder, such registration to be noted on the back hereof to be noted on the back hereof by the City Recorder, after which no transfer hereof shall be valid , unless made on said books and similarly noted on the back hereof, but this bond may be discharged from registration by being transfered to bearer, after which It shall be transferable by delivery, but may be again registered as before. The regis tration of this bond as to prin dpal shall not restrain the ne gotiability of the coupons here to attached by delivery merely Each and every successive hold er of this bond while it is pay able to bearer and such holder of each of the coupons hereto attached are conclusively presumed to forego and renounce his and their equities in favor of susequeht holders for value without notice and to agree that this bond while so payable to bearer, and each of the coupons hereto attached may be negotiated by delivery by any person 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 apy person for value and without notice, there-- eby has acquired absolut- title thereto, free from any defenses enforceable - against - any -- prior city onDecemberl on any interest payment date holder. Kanab City and its ofthereafter, in inverse numerical ficials and the paying agent order, at the principal amount banks shall not be? affected by thereof and accured interest to any notice to the contrary. the date fixed tjr reden, prion It is hereby certified, recited a of plue qjnd declared that all acts, conpremium of one per cenfof the principal' ditions andthingyrequired to amount thereof for each year exist, happen and be performed or fraction thereof between the precedent to and In the issuance date of redemption and the of this bond have existed, have iate of maturity ofach bond so. happened and have been perredeemed prior to maturity, pro- formed in due time, form and vided that no such premium' manner as required by law, shall exceed three per cent that the amount of this , bond, of the principal amount of the together with the issue of bond being redeemed. Notice which it forms a part, does not of redemption is to be gien not exceed any limitation prescribless than thirty days prior to ed by the constitution or stat- the date fixed for redemption utes of the State of Utah, that by registered mail to the holder an ' amount of the revenues to, (Continued on Page 4) U-t- 1971 . er at the time registered as to principal, at least thirty days notice of the Intended . redemption thereof is to be given by registered mail to the banks at which the bonds are payable y one-quart- lf force.- is not er . In-t- nat-sew- of each bond w;i?h is. legister-e- d as to principal on the books of the City Recorder. If any bond so called for redemption (4) complete and system plant 1964-- 1 Pag e 3 Kanab, Utah Southern Utah News Thursday, July 23, 1964 . - AMERICA STATE OF UTAH COUNTY OF KANE emption . one-quart- er -- r . (3) - ? $ |