Show ORDINANCE NUMBER 2 AN ORDINANCE PROVIDING FOR THE ISSUANCE OF AN ADDI FIVE THOUSAND E HUNDRED DOLLARS 5 00 waterworks BONDS OF THE CITY OF SAINT GEORGE UTAH OUT OF A TOTAL authorized ISSUE OF 72 00 WHEREAS by the result of a caal election duly called and held in the city of saint george washing ton county utah on tuesday the jtb day of november 1920 said city was authorized and empowered to is sue and sell seventy two thousand dollars 72 00 waterworks bonds and WHEREAS the result of said elec tion was duly declared by the city council of said city sitting as a board of canvassers by resolution duly passed on the day of no vember 1920 from which it appears that the total number of totes otes cast as said election in favor of the bissu ance and sale of said waterworks bonds was and the total number of votes cast against the issuance and sale of said waterworks bond was 29 showing a majority of 86 cotes votes in favor of the issuance and sale of said works bonds and WHEREAS palmer bond and mortgage company has offered tc to purchase said additional 5 00 of said bonds paying a price satisfactory to this council with ac ae crded interest from date of bonds to date of delivery thereof which bid was the highest best and most art ad vant ageous to the city and which has by resolution been duly accepted by said city council and WHEREAS there la Is lz immediate mediate and pressing need of raising addition al funds in the amount of said 5 00 for the purposes specified NOW THEREFORE BE IT OR by the city council of the city of saint george washington cou county n ty utah section 1 that for the purpose of defraying the expenses of increase ing improving enlarging extending perfecting and adding to the present water supply and waterworks system of said city and securing an addi lional supply for the purpose of supplying and distributing water to the inhabitants thereof the same to be owned and controlled by said city in manner provided provide d tor for in an ordinance passed by the city council on the ath day of october A D 1920 providing for and ordering a special election tor for the purpose of submit ting to the qualified electors of said city the question of incurring a bonded indebtedness in the said sum surn of 72 00 bald said city of saint george does issue an additional 5 00 out of a total authorized Is sue of 72 00 waterworks bonds bo rids of the denomination of 00 each numbered consecutively from I 1 to 13 11 both inclusive to be denominated city of saint george waterworks bonds to be dated february 1st 1922 and to become due and payable pa Y twenty years from date of is issue sue with option of prior payment after ten years from date of issue said bonds and each of them shall be in substantially the following form to wit UNITED states OP OF AMERICA STATE OF UTAH COUNTY OF washington CITY OF SAINT GEORGE waterworks BOND no 00 know all men by these presents that the city of saint george washington county utah hereby acknowledges itself to be indebted and for value received hereby prom aises to pay to the bearer hereof the au sum in 0 of f five hundred dollars 00 in lawful money of the united states of america on the first day of february A D 1942 at the guaran ty trust company of new york new york city U S A with interest thereon from date until paid at the rate of six per cent aclo 6 per annum payable semi annually in like money on the first days of february and august in la each year said interest to maturity being represented by interest coupons hereto attached this bond is redeemable at the op tion of said city of saint george at any time after ten years after date of issue on any interest paying date in case this bond Is called for re demotion demp tion notice thereof shall be given by publication in irk a newspaper published in and of general curculla tion in salt lake city utah and in a financial journal published in and of general circulation in new york city for at least thirty days prior to the date fixed for redemption and after euch tuch notice interest upon this bond from and after the said date of redemption demp tion shall cease this bond Is issued for tha the purpose of defraying the ekpo expense anse of increase ing improving enlarging extending perfecting and adding to the present waterworks system of said city and securing an additional water supply tor for the purpose of supplying and dis water to the tg inhabitants alq ta I 1 b q pua fd controlled ont rolled by said municipality and Is issued under and pursuant to the constitution and laws of the state of utah and an ordinance passed by the city council of said city and a authorized by the electors of said city at a special election held tor for that purpose the city council of said city ha has S provided tor for levying annually a tax sufficient to pay the inte interest iest on thi thic bond as it falls due and also to con statute a sinking fund for the pay ment ot of the principal when due it is hereby certified recited and declared that all conditions acts and things essential to the validity of his this bond exist have happened and have been done and that every re qui rement of law affecting the issue thereof has been duly compiled complied with and this bond is swithin every debt and other limit prescribed by the constitution and laws of said state of utah the full faith and credit and all taxable property within the tho limits of ald baid city as constituted at the time of the issuance hereof are and shall continue to be pledged to the bunc payment of the principal and in terest of this bond IN WITNESS WHEREOF tha the city of saint george has caused thia this bond to be signed by its mayor and city treasurer and its corporate seal to be hereto affixed attested by its city recorder and the annexed coupons to bear the facsimile signature of the city treasurer as of the first day of february A AD D 1922 ALBERT E MILLER mayor NEPHI M SAVAGE attest city treasurer G E MILES city recorder SEAL to each of eald said bonds shall be at jached a coupon for each installment of interest contemplated by said bond which bald said coupons shall be numbered consecutively beginning with no I 1 with the several dates of payment and number of bond and shall bear the tac facsimile simile signature of the city treasurer said coupons and each of them except as its to dates of payment and number shall be in substantially the following form to wit FORM OF COUPON no 1500 15 00 february on the first day of august 19 the city of saint george utah III pay to bearer hereof at the guaranty trust company of new york new york city N Y USA U S A the sum of fifteen dollars 16 15 00 in lawful money of the united states of america being six months interest then due on its waterworks bond dated february 1922 no fac simile signature city treasurer there shall be endorsed on each of said bonds the following I 1 hereby certify that this bond Is within the lawful debt limit of the city of saint george utah and is issued according to law G 0 E MILES city recorder and ex city auditor I 1 said bonds and each of them shall be signed by the mayor and city treasurer and attested by the city recorder and sealed with the corporate seal of said city and the said coupons shall bear the facsimile fac simile sig nature of the city treasurer the mayor and city treasurer of said city are each hereby empowered and directed to sign the city recorder to sign and attest and affix the cor borate seal of the city to each of said bonds and the acts of eald said may or city treasurer and ana city recorder in so doing are and shall be the act and deed of said city of saint george utah all ail covenants state ments representations and agree ments contained in said bonds and coupons and all recitals and depre sensations of this ordinance are hereby considered and understood and it is hereby ordered and declared that said covenants and promises therein are the covenants and promises of said city and that the representations and statements therein are the representations and statements of said city and it is further stated and depre dented that said city of saint georgd is a municipal corporation and a city of the third class under the const aution and laws of the state of utah section 2 all ordinances ordinances and resolutions or parts of ordinances and resolutions in conflict with the provisions hereof be and the same are hereby repealed and after said bonds are issued this ordinance shall be and remain until said bonds and the interest thereon shall havn been fully paid satisfied and discharged as herein provided section 3 the interest falling due on said bonds on the 1st day of august 1922 shall be paid out of the general fund of said city and for the purpose of reimbursing the said gen bial fund for the payment of said interest and to chiate create a it f fund va t to 0 wt faa Q arial M nd tg W 44 04 7 |