Provo Daily Enquirer | 1897-10-16 | Page 3 | An Ordinance

AN providing for the creation of a sinking fund to Liede ern the outstanding provo city water works bonds eonda be 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 bunds bonds it a sinking fund be and the same is hereby created SEC II 11 that bat six thousand dollars of the moneys of provo city now dow in the hands bands of the treasurer of provo city be and that amount is hereby set apart as a portion of the S fald L 1 ibis 11 is ordinance crowed crea ed SEC III that until ol 01 op r zwiep alse provided and beginning with the year eighteen hundred and nin ninety ety eight and mch each year thereafter all the revenue derived from he water works system of prove city be i and ind the same is hereby set apart as a portion of the sinking fund by this I 1 ordinance created SEC ivi IV that until otherwise provided any surplus moneys remaining from tb the tax levied for ov the year eighteen bundled and ninety seven for the purpose of paying the inter 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 paying the interest upon the 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 the f ard breaf created ed 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 the president of the city council and the treasurer of prokp city are here hereby b y created commissioners of the sinking fund by this ordinance created who shall manro aal sn control the said sink uy lg lund fund under the direction and supervision of city council of provo city and it shall be the duty of the treasurer of provo I 1 city to keep a een Eeva arate rate accod account at of the baad aad to mike annually on thy the first monday in december of each year reports thereof to the city ity council of provo city and to make such other reports ther thereof beof as the city council shall from time to time demand sec VIL it shall be the duty of t the he aforesaid commissioners whenever said sinking fund fand shall amount to one thousand dol dollars lars or more to redeem with the consent and approval of the 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 Ee corder of provo city and it is hereby made his duty to draw his warrant upon jhb th treasurer of provo city for the amount required for the redemption of said bonds and the said treasur er shall pay the said warrant out of the sinking lundby fund by this ordinance created pas passed sed this day of september A D 1897 ROGER FARRER president derit of the city council of provo city attest lans LABS L NELSON KELSON city recorder Ee Re corder cordei approved this day 0 of september A D LArAYE LAFAYETTE Tn HOLBROOK mayor of provo city STATE OF UTAH 1 COUNTY ss BS provo city I 1 lars L nelson recorder in and for provo city utah county and state of utah hereby cej certify tiby that the foregoing is a full true and correct copy of an ordinance providing for the creation of a sinking dg fund to redeem the outstanding 1 provo cit city y water works bonds passed by the city council of provo city this day of A D 1897 in testimony whereof I 1 have hereunto affixed the seal of provo this thia day of september A AD D 1897 lans LAES L NELSON city recorder Ee corder