OCR Text |
Show rcftemplion rlafo, and" n pro-' niinm consisting of four per centum (4'"!) of t he principal amount redeemed. Honds numbered num-bered fifi to 525, both inclusive, maturing on the first day of March, 1974, shall be subject to prior redemption with any monies legally available th re-fur, re-fur, in inverse numerical order, at the option of said District, on March 1, 1!)73, or .m any interest payment date thereafter, at a price equal to the principal amount thereof, accrued interest to the redemption re-demption date, and a premium computed in accordance with the following schedule: 4'" of the principal amount redeemed, if redeemed re-deemed on or before September Sep-tember 1, 1977; 3ri of the principr.l amount redeemed, if redeemed re-deemed on or after March 1, 1!)78, and on or before September 1, 1!)!I2; and 2r', of the principal amount redeemed, if redeemed re-deemed on or after March 1, 1983. said tumds wliieli me o'l'ei'edl and made available for delivery de-livery after, forty-five days' from llie date herein designated desi-gnated for opening bids: and if said bonds are not so offered and made available within said period of time, the good faith (deposit will be returned to the ;Purchaser upon its request., The bonds shall be made avail-j .able for delivery by the Dis trict to the purchasers as soon as reasonably possible after the dale of the sale. j SALE RESERVATIONS: The Hoard of Trustees of the District Dis-trict reserves the privilege, in its sole discretion, of waiving any irregularity or informality in any bid, of rejecting any and all bids nnd re-advertising said bonds. The bonds herein offered shall not be sold for 'ess than par with accrued interest in-terest to the date of delivery; and no discount or commission shall be allowed or paid on or for such sale to any purchaser or bidder, directly or indirectly. indi-rectly. BASIS AND TIME OF PURPOSE AND AUTHORIZATION: AUTHOR-IZATION: The bonds of said scries were authorized, and constitute all the water revenue rev-enue bonds authorized at a special bond election held on October 24, 1955, at which AWARD: The bonds will be awarded to the highest and. best bidder, considering the' interest rate or rates specified j and the premium offered, if any. The highest bid will be determined by deducting the amount of the premium bid, if any, from the total-amount of interest which the District would be required to pay from the dale of said bonds to the respective maturity dates at the coupon rate or rates specified speci-fied in the bid; and the award will be made on the basis of the lowest net interest cost to the District, without reference to the possible redemption of the bonds prior to maturity. The Board will open bids at tho time hereinabove specified and will thereupon determine the best bid. In any event the Board will take action, awarding award-ing all the bonds or rejecting all bids, not later than twenty-four twenty-four hours after the expiration of the time herein prescribed for the opening of bids. If there are two or ' more equal bids and such are the best bids , received and for not less than i par and accrued interest, the Dislrict authorities shall determine deter-mine which bid shall be accepted. (Form of Notice of Sale) NOTICE OF SALE SOUTH DAVIS COUNTY WATE R IMPROVEMENT DISTRICT WATER REV-1 ENUE BONDS SERIES MARCH 1, 1958 - $525,-000.00. $525,-000.00. NOTICE IS HEREBY GIVEN that the Board of Trustees of the South Davis County Water Irmprovement District, in the County of Davis and State of Utah, will on Thursday, the 6th day of March, 1958, at the hour of 7:30 o'clock p.m., Mountain Standard Time, at the Adelaide Schoolhouse 551 West 7050 South Street, Bountiful, Boun-tiful, Utah, and within said District, receive sealed bids and publicly open the same for the purchase of the South Davis Da-vis County Water Improvement Improve-ment District Water Revenue Bonds, Series March 1, 1958. election the District was also authorized to issue, and it has issued, its general obligation water bonds in the principal amount of $175,000.00, for the same purpose as said revenue bonds, i. e., acquiring a culinary and irrigation water system. The District was created by a resolution passed, adopted and approved May 3, 1954, by the Davis County Board of Commissioners, pursuant pur-suant to Title 17, Chapter 6. U. C. A., 1953, and all laws thereunto enabling; and the District has never defaulted on the principal of or interest on any debt or other obligation. No litigation is pending, or to the District's knowledge, threatened, which may affect the validity of the bonds. The bonds arc issued pursuant to said act and to a resolution adopted Tuesday, Feb. 18, 1958, reference to which is hereby made for further details. SERIES. The bonds of said series, in the principal amount of $525,000.00, in the denomination denomi-nation of $1,000.00 each, consisting con-sisting of 525 bonds, numbered consecutively from 1 to 525, both inclusive, payable to bearer, dated as of March 1, 1953, shall bear interest at a rate or rates not exceeding five per centum (57) per annum, payable Ay only one set of coupons (unless the best bidder bid-der designates two sets), semiannually semi-annually on the first days of March and September in each year, commencing September 1, 1958, and shall be numbered num-bered and mature serially in 'regular numerical order and :be payable on the first day o March in each of the designated des-ignated years, as follows: ijBond Nos. Years Amounts SECURITY: The bonds are payable, both as to principal and interest, solely from, and constitute a first lien (but not necessarily an exclusive first lien) upon, the net revenues to be derived from fees and charges for the use of, and the service rendered and facilities fa-cilities furnished by, the District's Dis-trict's water system. No additional addi-tional bonds mfciy be issued having a lien superior to the lien of the bonds herein offered offer-ed for sale. Additional bonds having a lien junior to, or on a parity with, said bonds, may be issued in accordance with the provisions of said authorizing author-izing resolution. BID PROPOSAL: No specified speci-fied form of bid is required. Each bid must be unconditional, uncondi-tional, sealed, for all of the PLACE OF DELIVERY: The successful bidder Will be required re-quired to accept delivery of and to make payment for any! said bonds as soon as they are ready for delivery to the pur-1 chaser at soma bank or trust company in Salt Lake City, Utah: or at the successful bidder's bid-der's request and expense, delivery de-livery will be made at some other bankl or trust company in the United States of America, Amer-ica, as requested. LEGAL OPINION: ADDITIONAL ADDI-TIONAL INFORMATION: The legality of the bonds will be approved by Messrs. Dawson, Nagcl, Sherman & Howard, lAtlorneys at Law, Equitable I Building, Denver, Colorado, whose unqualified approving opinion, together with the printed bonds and a certified transcript of the legal proceedings, proceed-ings, including a certificate stating there is no litigation pending affecting the validity of Die bonds as of the date of their delivery, will be furnished furnish-ed the purchaser without charge by the District. Additional Addi-tional information concerning tho District, its system and said bonds may be obtained from (lie District's Clerk or its fiscal .agent, F. T. Boise & Co., 25 .jEast Second Soulh, Salt Lake 'City, Utah. I DATED in the District, Davis iCounty, Utah, this 18th day' oi February, 1958. P. K. PETERSON Chairman, Board of Trustees i Soulh Davis County Water Improvement District. (SEAL) I ATTEST: JESSIE W. HESS, i Clerk bonds herein designated, and 'addressed to Mr. Jesse W. !Hess, Clerk, South Davis County Water Improvement i District .Adelaide Schoolhouse, Bountiful, Utah, and reading "proposal to Purchase S525,-000.00 S525,-000.00 Water Revenue Bonds, Series March 1, 1958, as advertised." ad-vertised." Each bid, must specify spec-ify the lowest rate or rates of interest and premium, if any, at or above par, at which the bidder will purchase such jbonds. It is requested, but not required, for informational purposes only, that the bid dis- close (a) the total net inter-jest inter-jest cost in dollars and cents to the District, and (b) the average aver-age net interest rate in a Istated per centum. It is per-'missiblc per-'missiblc (1) to bid different or 'split interest rales for said jbonds, without limitation as to 'the number of rates specified 'for any maturity, the rate being evidenced by any coupon cou-pon only to be in a multiple of 0.05, and (2) to provide 'all or any part of the interest bid is payable by two sits of coupons (i. e., "A" and ''B" coupons), as specified in the bid. (All I Inclusive) Maturing Maturing 1 1961 $ 1,000.00 2 1962 1,000.00 3 1963 1,000.00 4 1964 1,000.00 5 1965 1,000.00 6- 10 1960 5.000.00 11 - 15 1967 5,000.00 10 - 20 1968 5,000.00 21-25 I960 5,000.00 26 - 35 1970 10,000.00 36 -45 1971 10,000.00 46 - 55 1972 10,000.00 56 - 05 1973 10,000.00 66 - 75 1974 10,000.00 76 - 85 ' 1975 10,000.00 86 - 95 1976 10,000.00 96 - 110 1977 15,000.00 111 - 125 1978 15,000.00 126 - 140 1979 15,000.00 141 - 155 1980 15,000.00 156 - 170 1981 15,000.00 171 - 185 1982 15,000.00 186 -200 1983 15,000.00 201 - 220 1984 20,000.00 221 - 240 1985 20,000.00 241 - 260 1986 20,000.00 261 - 280 1987 20,000.00 281-300 1988 20,000.00 301 - 320 1989 20,000.00 321 - 340 1990 20,000.00 341 -300 1991 20,000.00 361 - 380 1992 20,000.00 381 - 400 1993 20,000.00 401 - 425 1994 25,000.00 426 - 450 1995 25,000.00 451 - 475 1996 25,000.00 476 - 500 1997 25,000.00 501 - 525 1998 25,000.00 I The principal of and the interest inter-est accruing on said bonds shall be payable in lawful money of the United States of America, without deduction for exchange or collection charges at The Continental Bank and Trust Company, Salt Lake City, Utah. The bonds are : NOT registrable for payment i as lo principul or interest, or ' both. 1 I'UIOH REDEMPTION: Bonds numbered 451 to 525, . botli inclusive, maturing on and after the first day of ijMarch, 1996, shall lie subject rto prior redemption in inverse : numerical order, at the option ! of the District, and payable solely from net revenues - derived from the system's operation and available there- for (and not from the proceeds i of refunding bonds), on tlu ' first d-iy of March, 1968. oi on any interest payment dak " thereafter prior to the first iijday of March, 1973, al a prici J equal to the principal ammin1 j thereof, actMlt'd illtciest to tlu BID DEPOSIT: MANNER I AND TIME OF DELIVERY: Each bid (except any bid) which may be received Jronii the State of Utah or any board or department thereof) shall be accompanied by a cashier's check or certified check of a. solvent bank or trust company made payable to the District in an amount equaling two anril one-half per centum (2':;7c)' of the amount of any such bid, or by a cash deposit in like amount, which cashier's check, certified check, or cash deposit shall be promptly returned to ; iany such bidder if his bid is not accepted; and said cashier's' check, certified check, or cash; deposit of any successful bid-tier bid-tier who shall fail, neglect or refuse to accept the bonds so sold, and lo pay therefor, in accordance with the terms of such successful bid, within five days from the date the District properly ti nders the bonds for delivery, .shall be forfeiti d to said District. Such deposit will be credited to l hi purchaser, without accruing interest, at tlu time delivery is made. The 'purchaser shall not be rcqii 'red :jio accept delivery of uny of |