Provo Daily Enquirer | 1897-10-12 | Page 3 | An Ordinance

AN providing for the creation of a sinking fund to redeem etc deem the outstanding provo city water works beonde be ba it ordained by the city council of provo city SECTION I 1 that for the purpose of redeeming the outstanding provo city cita waterworks Water works bonds a sinking F fund d be and the same is hereby created SEC II 11 that six thousand 14 ba dollars of the moneys of provo city now nor in the hands of the treasurer of provo city baand be and that amount account is hereby apart is as a portion of tho the S eking fand by this ordinance created SEC III that until otherwise so provided and beginning with the year eighteen hundred and nine ninety ty eight and each year t thereafter all tho the revenue derived from the water works system of prove city be ba and the same is hereby set apart as a portion of the sinking fund by this ordinance created SEC IY IV that until ol otherwise berwise provided any surplus moneys remaining from the tax levied for the year eighteen bundled and ninety seven for the purpose of paying j interest estupin 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 oi of paying the interest upon the ibe said waterworks Water works bonds be and the same s hereby set apart as a portion of the sinking fund by this ordinance created SEC V tao fund created ed by this or ordinance dirance 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 ba fully paid and redeemed SEC VI that tho the mayor tho the Fres president ident of iho ho city council and the treasurer of provo city are hereby mated created commissioners of the sinking fund by this ordin ince created who shall rr it rw duj I 1 control the said slaking sinking fund under the direction and supervision of tha city council of provo city and it shall be the duty of the treasurer of provo city to keep a fe separate account of the said isaid sina sinking b tn f faud and aid aad to mike annually on the first bionday SIon day in december of each year reports thereof to the city council of provo city and i to make such othor reports thereof as tho city council shall from time to time demand SEC VIL it shall be the duty of the he aforesaid commissioners whenever said sinking f fund and shall amount to one thousand dollars or more to redeem with the consent and approval of tho city council the said outstanding provo city water works bonds provided that whenever any of the said 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 I 1 of said eaid bonds and the said treasur er shall p pay av the said warrant out of the sinking fund by this ordia ordinance created passed parsed this day of september A D 1897 ROGER FARRER farner president of the city council of provo city attest LAPs LAES ii NELSON city recorder Ee corder approved this day 0 of september A D 1897 LAFAYETTE HorB nooK mayor of provo city STATE OF utan UTAH ca COUNTY CU N ty 1 BS 65 provo city 1 I liars lars L nelson recorder in and for provo city utah county and state of utah hereby cei certify tiby that t the he foregoing I 1 is a full true and correct copy of an ordinance providing for the creation of a sinking fund to redeem the outstanding ont banding provo city water works bonds I 1 passed by the C city ty council of provo city this day of september A D 1897 in testimony whereof I 1 have hereunto affixed the seal of provo this day of september A AD D 1897 LAES L NELSON city recorder