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Show A RESOLUTION IJKOVIDINU UOK THE ISSUANCE OF llouds for Corporate purposes. Whelea, Tho corporatlou of Malt Lake City tadesirou of borrowing the sum of Two Huu ilrrdTtiousMid Dollar tor the mn klnn of permanent perma-nent lniproemenis and for other (.urporaie lull poses, and it has lieen deemed prudent and beet t i lssu a t-eries of Two Hundred One Thousand Dollar H n is. pursuant t 1 tlie provisions pro-visions of an Act of the llovercor and Legislative Legisla-tive iwcnibly of th Territory of Utah, approved ap-proved March 8th, l1', therefore. Section 1. He, and !t is, re-olved, by th City Council of bult Lake City, that for the puriiose of obtaining money for permanent Improvements and for 01 her Corporate purposes, pur-poses, said Corporation shall Issue a series of Two Hundred euifrad Coupon llouds of the denomination of one Thousand dollar each, the principal pyable at the oiilce of the City Treasurer of in City 01 gall Luke twenty years after the date thereof, redeemable, how.reve al tlio option of said Corporation at any time after ten years from the date of their Issue, fcald Hon Is to bear dat of July 1st, Mil. with Interest from the date thereof at tho rale of f per ceut per annum, and payable i-eml-annually thereafter, on the first day of January mid July In each year, lu the City of New York nt the llanklmf llous of the Importers and Traders' Nallonal Hank, or Itssecceosor. or at the Union National ll.uiU lu Aalt Lake City, or it successot. on presentation and surrender of the Coupon as ta'ey becomedite. both Interest Inter-est an 1 principal payable lu lawful mom y ol the United States, and said Homla shall be exempt ex-empt from taxation by said City. Section if, Kaid Bonds shall ne signed by the Mayor and Treasurer of said C ty. and be ora the issuance of any of them the Corporate Seal of said City iballbe thereunto aillxed, duly attested at-tested by the Kecorder Of said City. Heoilon 3. raid linn,. shall lie numbered from oue to two hundred, both Inclusive, and they shall be registered lu numerical order in a book kept for such purpose by the Auditor of said City, and said Homis shad be so, d only upon the order of the City Council and lu au h lot and on su"n terms a lt shall de-dnate, and to ea h of said Bond there shall lie nt-inched nt-inched fori? coupon, numbered lespectlvely from one to forty, both Inclusive, w ith tb proper dates of p lytiient named therein. Keotion I. The Meal of the Corporation shall cot be Impressed upon sld lionds until the term of sale thereof, and then -,;ld Impression shall be made In the presence of the Mayor ainlTroftsurer andi omtnitteoof Finance of said City, provided the order of selling and attesting attest-ing said Honda Including the sealing thereof may b ohiied or modllled by order of the City Council. Section f. Whenever the City Council of Bait Lake City shall have arntBK'"t to lMsue saidllondsor any part of them, said Council shall direct the Tnstirrof said City to advertise adver-tise for the sale of Honda to be Issued as aforesaid, afore-said, tiy causing notice of M sale to be published pub-lished for a period of one month In three (tally newspapers published In Salt LakeClty. Such notice shall specify the amount of Honds to be sold, the rate ol Interest tin y ehall bear, the place, day and hour of sale, and that bid will be received y said Treasurer for the purchase of Said Bond wllhlu fifteen days from the expiration of suld publication in said p ipers, and at a place and time mimed In said notice. The Treasurer of nil I City, toqtether with the Committee on Finance of said City Council shall open all bid received by aald Treasurer and thev shall award the Furohase of said Broils or tlio portion hereof offered for sale to the lili'liett bidder or bidder theref 're. l'rovldrt: That said Treasurer and said Committee 011 Finance) snail have the right on behalf of said city to reject sny and all bids, and p'ovldcd further, that they may lu their discretion refuse to make any award of said Honda miles sufficient suf-ficient security shall be furnished by the bidder bid-der or bidders for the coiuplli noe wlih tho terms of his or their bids. flection ft. For tho 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 necessary Is hereby appropriated accordingly. accord-ingly. Section 7. At the exnlrntlon of ten years after af-ter the issuance of sai l Bonds, there shall bo set apart, aud the slime Is hereby appropriated the sum of twenty thousand dollars, n a sinking sink-ing fund to pay the principal of said Bonds, as the same shall fall due or lie called as provided pro-vided by Section 8 of this resolution: Provided, Provid-ed, that nothing herein shall lie construed to prohibit the city Council from making any other provision for redemption of nny or all of said Honds nfter the expli allott ol ten years. Sections. Whenever after tho expiration of ten years from the issuance of said Honds there is available as provldod in the precedlnu suction or otherwise the sum of luenly thousand dollars or more, lt Shall he the duty of the City Treasurer to publish a notice stating the number of bonds to be redeemed, commencing com-mencing w ith the highest number then outstanding, out-standing, and the date when tiny will be paid. And If such Honds so numbered lu said notice shall not be presented for payment or cancellation at th" date mentioned in the publication, then such fund shall remain re-main In tne treasury to discharge such Honds whenever presented, but such call Honda -h..ll draw no Interest after the date Bpeciiied in such police. Suction V. This resolution to take effect from and a'ter its passage. Passed and approved June Pth, ism. Ikau duo. M. Si-ott, Mayor. Attest: J. F. Jack, City Recorder. United Statvs of amkhica, I TKKniroiiv or Utah, i-ss. Sai t Lakh Citv, I I. J. F. Jack. Recorder of Salt Lake City, do hereby certify tnat tho foregoing is a full, true and correct copy of "A resolution providing, for the Issuance of Honds for Corporntn purposes'' pur-poses'' passed by the City Council of Salt Luke ( ity. J une nth, laul, as appears of record in my olllee. In testimony whereof, I have hereunto set my hand and aillxed !m Corporate Seal of Salt Luke Cltv, this loth dav of June. 1 My 1 . (skai 0, 141. J. F. Jaok, City Kecorder. |