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Show A RESOLUTION KOVirIN(J VOH THE ISSUANCE OF Houds for Curporate purpose-. Whereas, The corporation of Sa,t Lalie City Is desirous of borrowing the tuin of 1 wo Hun dred ThouHand Dollar for the making of p.-r'na-ti-nt liiiproveuieins and for other Corporate pui'ik sej. and It has ln-eu de-iued prudent and b"t to fsue a nerles of Two hundred On Thouand Dollar Hon. In, pursuant to the provisions pro-visions of an Act of tli tiovernor and Le-.fc.ia-tire sseui!ily of the Territory ul U tall, approved ap-proved March 8th, I1; therefore. Section 1. lie, and It is, re-olved, by the City Council of Salt Lake City, that lor the purpose of obtaining luoiiay f,,r permanent improvements and for other Corporate purposes pur-poses sal'l Corporation shall Is lea series of l'w.i Hundred engrave 1 toaiKui lioiids of thn detiononation 01 One Thousand dollars each, tlm principal payable at the oiuce ot thn City Treasurer of theClty 01 Halt Lake twenty years after tiu-date ta d-oof. r.-decma: 1. ho,r.-ve ' tae option of ald Corporation at anv time after ten .years from the date of their ln. Mud minds 10 bear date of July 1st, p-til. with liiturest irom the date tiiereof at the rale of 5 m- cent per annum, and payable teu'-au-nuallv thereafler, on the tlrst ua) got January and duly in each year, In the City of New York at the nankin House of the Importers and fradei-s' National Hank, or ltsserccssors, or at the L'ulon Aatlouul Hank In Sait Lake CUv. or lis successful, ou presentation and surrender of the Coupon! as they become due both interest inter-est and pine pal payable in lawful ino-i. y of Ilia Un.ted Slates, Unj j his shall la ex-eint.t ex-eint.t from taxation liv said City. Section a said Houds shall he sailed by the Mayor and Treasuter of said C.ty. and before the issuance of any of lliem the Curporate Seal of sai l city shall be thereunto Mrted, amy attested at-tested by the liecorder of said City. Section II. f a d Hoods slia.l lie numbered from one to two hundred, both inclusive, ai.d they shall lie registered In numerical order in a booa kept for such purpose bv the Auditor of sal. I Cltv. and said lionds Saad lie sold only upon the order of tho Cliy Conned and in surli lots and on m- h terms as If, shall dedciiftle, and to cat hot said Houds there shall be attache,! at-tache,! f..riy ciititi ,us, iiuinb r -il tespO"'ivey from one to forty, both lin luslve, wltn til pro'-er tiati-H of payment uained therein. S' oiloti 1, The Seal of the Corporation shall not lie Impressed upon said Houds until the terms n ,; thereof, and tln-n said imi n-slon snail be made in Hie jir.-M-nce of tho Mavor iitidTreasuri-randi omuiitteeof Piuauceof said City, provided the order ot seli.ni and nttest-tuir nttest-tuir sad Honds Including the sealing thereof may be changed or inodliitd by order of the City Council. S'-otmn fi. Whenever the City Council of salt l.aliecity shall have urrtimred to Issue said Honds or any part of tliein, said Cmitieil shall directthe'i'reasiircrof said City to advertise adver-tise fur the s!e of Honds to tie issued as nfors-sald. nfors-sald. by causing notice of said sale to l-e published pub-lished for a period of one month 111 three dally newspapers published in Halt LakoCity. Such notice shall specify the amount ot Honda 10 be old. the rate of interest they shall bear, the place, day auj hour of sale, and that bids will be r.icelved bv said 'iroasurer for the purchase of said Bonds within ilfteeu days from the expiration of said publication In said papers, and at a place and tune reined in said notice. The Treasurer of said City, together with the Committee on Pittam-a of raid City Council shall opea a'.l bids received bv said Tieasurer and thev shall award tue purchase of said Bonds or the portion thereof offered for sale to the lilt'liest bidder or bidders therefore. Provided: That said Treasuti-r and si-Id Committee on Finance shall have the right on behalf of said City to reject any and ail bids, und provided further, that they may In their discretion refuse to make any award of said Honds unless stif-tieient stif-tieient security shall b- furnished by the bidder bid-der or bidders for the compliance with the terms of his or their bids. Section 8. For the purpose of providing for the payment of the Interest on said Honds as the same shall become due, the sum of ten thousand dollars or so much thereof as may be necBssary Is hereby appropriated accord -luply. Section 7. At tho expiration of ten years after af-ter tho issuance of said H inds, there shall be set apart, and tlie same is hereby appropriated the sum of twenty thousand dollars, as a sinking sink-ing fund to pay the principal of said Honda, as tlie same shall fall due or be called ns provided pro-vided by Section S of this resolution: Provided, Provid-ed, that nothing herein shall be construed to prohibit tne ( lty Council from making any other provision for redemption of any or all of said lb. lids after the expiration of t 11 years. Sections. Whenever after the e.xtilration of ten years from the Issuance of said lionds there is available as provided in the preceding section or otherwise the sum of twenty thousand dollars or more, It shall be the duty of the City Treasurer to publish a notice stating tlie number of bonds to be redeemed, commencing com-mencing with the higheBt cumber then outstanding, out-standing, aud the date when they will be paid. Anil If such Bonds so numbered iu sabl notice shall not lie presented for payment or cancellation at the date mentioned In the publication, then such fund shall remain re-main In the treasury to dlscharee such Honds whenever presented, butsnch call Honds shall draw no Interest after the date specined in such notice. Section v. This resolution to take effect from and after its passage. Passed and approved June 9th, 1891. IskauJ c,ko. M. S'-ott, Mayor. Attest: J. F. jAfg, City Recorder. United Statfs of Amkhica, I Ttittiinoiiv or Utah, ;-8s. Salt Lak it Citv, t I. .T. F. Jack. Recorder of Salt Lake City, do hereby certify that tlie foregoiim Js a full, true nnd correct copy of "a resolution providing forthe Issuance of Honds for Corporate purposes" pur-poses" passed by the City Council of Salt Lake city. June uth, 1HU1, as appears of record In my ohtce. Iu testimony whereof, I have hereunto set my hand ami amxedtbeO 'rporatc Seal 01 Sait Lake City, this tilth dav of June. Isiil. Iseai.J u. 141. J. F. Jaok, city Hs.iorder. |