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Show A RESOLUTION I1KOVIDINO VO THE ISSUANCE OF Houds for CoriHirale purposes. Whereas, The coi pcratlou ui Suit Lake City la des.rous of borrowing the sum of Two Huu dred Thousand Dollar for the making of peri.ia-mnt peri.ia-mnt improiementa aud lor olhiM- Corporate purposes, and it has been deeiueu prudent and Iwl to Issue a series of Two Hundred l.e Thousand Uoll ir lton.ls, pursuant t tne pro visions or an Act of the tioveruor and Lcas.a-t.ve Lcas.a-t.ve assembly of the Territory of Utah, approved ap-proved March 8th. 1-vvS; therefore. Sect. on I. lie, imd It Is, resolved, by the City Council of Bait Lake City, that for the pu;KBe of obtaining money for permanent Improvements and for other Corpoiate purposes pur-poses said Corporation shall Issue a series of Two Hundred engraved loiipon ltomti ol tbe denomination oi One Tdousuud dollars caeu, the principal payable at the oillce of the City Treasurer of ti.eOitv oi fait Lake twenty years after the date thereof, redeem: 1 Low,r v at the option ot "aid Corporation at unv time after ten years from the date of their issue, paid llon.ls to tear date of July is'., IMfl. w:ta Interest from the date thereof at the rate of 5 per cent )ier annum, and payable eeinl oil-nually oil-nually thereafter, ou the first uaj s of January and July 111 each year, In the City of New York Ht the Hanking House of the Importers and Trad- is' National lP.uk or ltsseet,esors, or at the Union National Hank in Salt Lake City, or lis suceessois. oil presentation and surrender of the Coupons as they bucomed'.ie.both interest inter-est and principal payable In lawful motcyof the United Slates, and said Honda shall 1 exempt ex-empt from taxation bv said (Illy. Sect on J, Saul Houds shall iw signed by the Mayor and Treasurer of said City, aud lH(fore the issuance of any of them tho corporate Seal of said City shall be thereunto artued, duly attested at-tested by the iieeorder of said City. Section 8. said Himils shall be numbered from one to two hundred, both Inclusive, and they shall be registered In numerical order lu a book kept for such purpose by the Auditor of said City, aud said Honda shall besoldonlv upon the order of the Cliy Council and In smli lots and on such terms ss It shall ue-lgnate. and to each of said Honda there shall l e attached at-tached fort y coupons, nunib-r-d lespectlvely from one to forty, liot'i Inclusive, with the proper dates i f payment named therein. Beotion 4. The Heal of the Corporation shall not tat lmpri seed upon end Bonds until the teTus of sule thoreof, and then ald Impression shall be made In the presence of the Mayor audTreHsurerandCoinmitteeof Finance of said City, provided the order of sell mg end at testing test-ing stud Bonds including the sealing thereof m ay be changed or moullled by order of the City Council. Section ft. Whenever the City Council of Salt Lal e City shall have arranged to Issue said llonds or any part ot them, said Council shall direct the Treasurer of said City to advertise adver-tise for the sale of Houds to be Issue I as aforesaid, afore-said, by causing notice of said salo to bo published pub-lished for a period of one month in three daily newspapers published In Salt Lake Cit y. Such notice shall speciry the amount of Honds to be sold, the rate of interest they eball bear, tbe plane, day and hour of sale, and that bids will be reoelved by said Treasurer for the purchase of said HoiuIh within fifteen days from the expiration of said Publication In said papers, and at a place and I line named lu said notice. The Treasurer of said City, toother with the Committee ou Finance ol said City Council shall open all bids received by said Treasurer and thev shall award the purchase of said I! mas or the portion thereof effered for sale to the highest bidder or bdders therefore. Provided: That said Treasurer and said Committee on Ktnauce shall have the right on behalf of said City to reject any and ail bids, and provided further, that they may In their discretion refuse to make any award of said Honds unless suf-ttclent suf-ttclent beeiirliy shall lie furnished by the bidder bid-der or bidders for the oomplianoe with the terms of Ids or their bids. Section B. For tho purpose of providing for the payment of the lutere t on said Bonds as the same shall become due, tbe sum of ten thousand dollars or so much thereof as may be necessary Is hereby appropriated accord-lnely. accord-lnely. Section 7. At the exnlmtion of ten years after af-ter the Issuance of said Bonds, there shall be set apart, and the same is hereby appropriated the sum of twenty thousand dollars, as a sinking sink-ing fund to pay the principal of said bonds, as tbe same shall fall due or be called as provided pro-vided by Section 8 of this resolution: Provided, Provid-ed, that nothing herein shall be construed to prohibit the i lty Council from making any other provision for redemption of any or all of said Hc.nds nfter the expiration of ten years. Sections. Whenever after the expiration of ten years from the Issuan e of said Bonds there Is available as provided In the preceding section or otherwise the sum of twenty thousand dollars or morn, It ahull be the duty of the City Treasurer to publish a notice stating the number of bonds to be redeemed, commencingwith com-mencingwith the highest number then outstanding out-standing and tbe date when they will be paldl And If such Honds so numbered in said otlce shall not be presented for payment kr cancellation at the date mentioned in the publication, then such fund shall remain re-main In tmltreasury to discharge such Honds whenever lanaented. buteuch call Honda shall draw no Interest after the date specified in such notice. Section Vi This resolution to take effect from and after lis passage. Passed and approved June Pth, 1H.U-skal. 1H.U-skal. (lico. M. Scon, Mayor. Attest: .t. F. Jack, City Recorder. UNITKD 87ATKS OF AMBKKSA, Teriuiukv or Utah, sb. Sat.t Lake City, I. J. F. Jack. Recorder of Salt Lako City, do hereby certify that the foregoing is a full, true snd correct copy of "A resolution providing for the Issuance of Bonds for Corporate purposes'' pur-poses'' passeii by the City Council of Salt Lake City. June 9th, l'l, as appears of record In my ohice. In testimony wherenf, I have hereunto set my hand and afilxed tne Corporate 8eal of Salt Lake City, this 10th day of June. llvl. (seal 0. 141. J. F. JACK, City Kecorder. |