Show AS A S providing for the issuing and disposing of muni cipa bonds proto city a municipal corporation osing free from debba and obligations 0 every nature is in nead of a bysted of waterworks water works to more effectually provide for mhd health and convenience af its inhabitants and tun security of property and the money in the treasury of proto city is and the inadequate to meet the expenditures necessary for the construction of said system of waterworks water works and it is deemed for the beat good of provo city and its inhabitants to borrow the necessary sum to establish said estem af water works and for that to issue a series of one hundred and twenty five bonds of the of one thousand dollars each pursuant to ao act of the legislative assembly of the territory of entitled an act providing for tle incorporation of cities ap pro march 1888 yec 1 be it ordained by the city Ju uncil of provo city that for the purposes above said corporation po ration shall a series of one i and twenty five litho graphed coupon bonds of th denomination of one thousand dollars each the principal payable at tiia office of hb city treasurer of fiovo city in US twenty years affer tuo date thereof redeem thle however at the option of aard provo city at any time ten years from the dale of their issue said bonds to bear date of november and 2nd 1891 with interest from the data thereof at the rate of six per cent per annum and payable semiannually semi annually thereafter on the first days of may and november in each year at the first national bank of provo provo city or its or at the chemical national bank of new york in new york oil or its at tha option of the holder on presentation and surrender of the coupons as they become due in lawful money of the united states and said bends shull ba eak ampt from taxation by provo city one 2 timid bonds be numbered from ono 1 0 o one hundred aud twenty five inclusive abid shall be delv registered in numerical order in a book kept for that purpose by the city recorder they hall be figued by the alador alayor anil treasurer of said city and before the of any cf them abu corporate oual shall thereunto be affixed duly attested by the recorder of said city the faith and credit of provo city is lit ireby pledged for the payment of aard bonds and tte interest accruing therein as herein provided SEC 3 coupons for the interest bhagi be attached alt ached to each bond eo thai they may be removed with nac in jury or multi lation to the bond They shall b numbered from one 1 to forty 40 both inclusive and the same number as ane bond to which they ar attached alao the proper dates of payment named thereon tb ereon and the interest expressed in baid bond sic si c 4 said bond shall be sold only upon the order of the city council aud in such lots and on such derais as shall be designated by said the seal of the corporation not ba impressed upon aard bonds until the time of saia thereof and then in tho presence of the mayor treasurer and on of aid city provided the order of selling and attesting said douds may be modified or changed tj order of the city council 5 whenever the city coun cil ahll have arranged te make a lean and ibbie eaid bonds or any oart of ilfin baid council snail direst the treasurer of said city to advertise for the sale of the bonds to be imbued as by causing a of said bale to be published for a period of at least daya in awo daily newspapers newn papers in adit lake city such notice shall specify the amount of buds to be old the rate of interest iha place day aud buur of sale and that bids vi it ba received by oaid for the purchase of baid bonds within ten da ya fram of said publication ID fraid papers at the nine and place named io said ibe baid treasurer together the on ol 01 said city Ju uncil shall olaa all bids receive d by said treasurer aud thy shall award the purchase of said bonds or aport ioa offered for arle to ahe bidder or bidders provided that said and said committed Commit teo shall have the right inbe balt of said city to reject any and all bids and provided farther that they may ill thair defuso to mako any award of said bonds unless security shall be furnished by the said bidder or bidders for the compliance with the terms of his or their bid SEC 6 for tha purpose of providing for the payment of the interest on said bonds as the same ceball leeome due beha bum of seven thousand civo hundred dollars or so much thereof as may be nao eBsary is hereby appropriated from the gen eral fund of provo city annually to be drawn on the warrant cf tha koc semiannually semi annually to meet such interest on the first days cf may and november of each and evry year SEC 7 at the of tea years after the issuance of said bonds there ahall be set apart and ie hereby appropriated out of the general fund of the city annually the sum of twelve thousand five hundred dollars to be drawn on thi warrant of the recorder to pay the principal of said bonds as the same s all fall due or be called for as provided m this said amount hall bo ia a fund to be known an the redemption and f said bonds provided thy provisions of this fotion shall not be construed to prohibit the city council from making other provisions pro for the redemption of any or all of said boada after tho expiration of ten cynara aso 8 whenever actor tha expiration pi ration of ten years from th data of issuance of duy bona under this ordinance there IB available a provided in abs tbs ireadia hie eum of twelve thousand ave hundred dollars or more it mihall be the duty of the treasurer to adverties advert iee as in the manner of advertising tha sale of said bonds which advertisement shall state the amount of money in the baid redemption annd and the number ef bunds numbering them in the order of their issuance commencing at the highest number then outstanding which said sam is sat apart to pay and discharge and the date when they will ba paid and if anoh bonds so auml ered in such advertisement shall not bo presented for payment and cancellation at the expiration of the date mentioned in tho publication then fauch fund shall remain in tho treasury to discharge buch bonds whenever presented but they shall draw no interest after the expiration of publication before any such bonds shall bi paid they shall be presented to tha er who shall endorse thereon he amount due and shall write accost the fac of said bond the date of ita garrander aar rander and the namo ef the person surrendering the same tho freas aurer shall withie ten days after the aale ot any bonds file with the recorder a verified statement showing therein the nui aber date rate of iu te refit amount of sale when and to old and the said recorder shall keep a record of all bonds issued end disposed of by lb treasurer showing the aado facts as shown oy the record copt by tha treasurer also when presented for redemption tha amount duo and person drina passed october 31 1891 JOHN E BOOTH mavor of provo city attest J M city recorder OF UTAH UTAH COUNTY ss alty 1 JM JENSEN Kp corder in and for Provo City utah county and territory of utah hereby certify that the foregoing is a full true and correct copy of an ordinance providing for tho issuing and dapos ing of municipal bonda passed by abo city council of provo city tober 31 A D 1891 in testimony whereof I 1 have hereunto affixed the seal SEAL I 1 of Provo City this and 2nd day of november A D 1891 J M JENSEN city |