OCR Text |
Show AN ORDINANCE WHEREAS, the State Advisory Board of the Federal Emergency Administration of Public Works has approved an application of the City of Duchesne for a loan of $40,000 for the renovation of the existing water works of Duchesne City; of which the sum of $10,-521.00 $10,-521.00 will bo a direct grant to the city and the sum of $29,479.00 will be a loan secured by revenue bonds to be Issued by the City of Duchesne, which bonds will be a charge upon the revenues of the city water works and not a general gen-eral obligation' on the City. BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF DUCHESNE, UTAH: 1. That the City of Duchesne issue special revenue bonds In the sum of Twenty-nine Thousand Four Hundred Seventy-nine and No-100 ($29 479.00) Dollars, the proceeds of said bonds to bo used for the removal of the existing wooden stave pipe and the substitution sub-stitution therefor of cast Iron pipe constituting the city's mains; for the Installation of Twenty-five (25) new Fire Hydrants; for the purchase and Installation of a chlorinator for the protection of the health of the water users within with-in the City, and for construction of an emergency line up the Duchesne Du-chesne River for a distance of approximately ap-proximately Six Thousand Feet. 2. The estimated cost of the project is Forty-Thousand Dollars ($40,000); the rate of interest on said bonds is to be four per centum cent-um per annum; said bonds to be payable in Duchesne, Utah, or In the City of New York, and to be payable as to Interest only for the first three years, and to be retired by twenty-seven annual payments on principal, beginning three years after issuance of said bonds, each annual principal payment pay-ment to be in the sum of $1,091-81; $1,091-81; said bonds and the debt thereby there-by represented to be a charge upon the revenues of said City water system only, and not a direct charge or obligation of the City of Duchesne nor the taxpayers there of. 3. This Ordinance is passed and published under the provisions of Chapter 22, Session Laws of the Special Session of the Legislature Legis-lature of the State of Utah, (Known as the Granger Act) and notice Is hereby given that unless un-less within twenty-one (21) days from the publication of this Ordinance Or-dinance a petition is filed with the City Recorder of the City of Duchesne, Du-chesne, signed by voters qualified to vote thereupon at least equal to fifteen per cent in number of the voters voting for Mayor at the last municipal election, and asking ask-ing that the question of improving improv-ing and extending city water system sys-tem be submitted to the voters of said City, said City Council will proceed to issue said bonds in accordance ac-cordance with the provisions of the Ordinance. 4. This Ordinance to become effective twenty-one (21) days after the publication thereof. Passed and approved by the City Council of the City of Duchesne, Du-chesne, Utah, this 20th, day of November, A. D. 1933. G. C. KOHL, Mayor HILDUR W. JOHNSTUN, City Recorder |