Provo Daily Enquirer | 1897-10-11 | Page 3 | An Ordinance

AN providing for the creation of a sinking fund to redeem the outstanding t provo city water works bonds be ba it ordained by the city council of provo city SECTION I 1 that for the purpose of redeeming the outstanding provo city waterworks Water works bonds a sinking fund be and the same is hereby created SEC IL II that six thousand dollars of the mone moneys Ts of provo city now in the hands of the treasurer of provo city be and that amount is hereby set apart as 16 a portion of the sinking fund by this ordinance created SEC III that until otherwise provided and beginning with the year eighteen hundred and ninety eight and each year thereafter ei all the revenue derived from the water works system of prove city be and the same is hereby set apart as a portion of the sinking j and by this ord ordinance nance created SEC IV that until otherwise provided any surplus moneys remaining from the tax levied for the year eighteen bundled and ninety seven for the purpose of paying the interest upon the said provo city water works bonds and any surplus that may remain from any tax that may be levied during any year hereafter for the purpose ot of paying the interest upon the said water works bonds be and the same is hereby set apart as a portion of the sinking fund by this ordinance created SEC V the fund created by this ord ordinance iLance is hereby declared to be sacred and inviolable for the purposes contemplated by this ordinance and the fund hereby created shall not be diverted or applied to any other purpose whatsoever until the aforesaid provo city water works bonds shall be fully paid and redeemed SEC VI that the mayor alador the president of the city council and the treasurer of provo city are hereby created commissioners of the sinking lundby fund by this ordin te inie created w who ho shall rna mu m vu u aud and control the said sinking fund under the direction and supervision of city council 0 cicil of provo city and it shall be the duty of the treasurer of provo city to keep a so separate larate account of the said sinking f fund and aud and to make an dually on the first monday in december of each year reports thereof to the city council of provo city and to make such other reports thereof as the city council shall from time i to time demand SEC VIL VII it shall be the duty of if the aforesaid commissioners whenever said sinking f fund and shall amount to one thousand dollars or more to redeem with the consent aad approval of the city council the said outstanding provo City water works bonds provided that whenever any of the said eaid bonds are redeemed as herein provided the city council shall authorize the recorder of provo city and it is hereby made his duty to draw his warrant upon the treasurer of provo city for the amount required for the redemption of said bonds and the said treasurer shall pay the said warrant out of the sinking fund by this ord ordinance finance created passed this day of september A D 1897 ROGER FARRER president of the city council of provo city attest LARs LABS L NELSON city I 1 recorder Ee corder approved this day 0 of september A D 1897 LAFAYE LAFAYETTE HOLBROOK mayor of provo city STATE OF UTAH UTAH COUNTY Es provo city I 1 lars L nelson recorder Ee corder in and for provo city utah county and state of utah hereby cei certify tiby that the forego foregoing ingis is afuli a full true and correct copy of an ordinance Tro providing viding forthe for the creation of a sinking fund to redeem the outstanding provo city water works bonds passed by the city cay council of oe provo city this day of september A D 1897 in testimony whereof I 1 have hereunto affixed the seal of provo this day of septem ber A D 1897 lams LAES L NELSON city recorder