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Show for the sale of such electricity and water, that the net revenue I received will be sufficient promptly to pay the principal of and r I interest on this bond and the issue of which it forms a part" as I becomes due, and to make all payments required to be made intne!? I above mentioned "Springville City Electric and Water Revenue L I Sinking Fund." x I This bond may be registered as to principal in the name nf . I holder on the books of the City Recorder of Springville City in 5e I office of the Recorder, such registration to be noted on the V I hereof by the Recorder, after which no transfer hereof shall be v.Cl1 I unless made on said books and similarly noted on the back ho I but this bond may be discharged from registration by beine tr ' I ferred to bearer, after which it shall be transferable by delivervk I may be again registered as before. The registration of this btL I to principal shall not restrain the negotiability of the coupons C as I attached by delivery merely. Each and every successive holtw'0 I this bond during such time as it is payable to bearer and such hrLf I of each of the coupons hereto attached are conclusively presum I forego and renounce his and their equities in favor of subsen I holders for value without notice, and to agree that this bond whn ' I payable to bearer, and each of the coupons hereto attached mav k I negotiated by delivery by any person having possession ther , I howsoever such possession may have been acquired, and that I holder who shall have taken this bond or any of the coupons f5' I any person for value and without notice, thereby has acquired ah I lute title thereto, free from any defenses enforceable against I prior holder and free from all equities and claims of ownershi a I any such prior holder. Springville City and its officials and tk' I Springville Banking Company in Springville City, Utah shall not k I affected by any notices to the contrary. Ul I It is hereby certified, recited and declared that all acts r ditions arid things required to exist, happen and be performed nr00" I dent to and in the issuance of this bond have existed, have hapne I and have been performed in due time, form and manner as remr I by law, that the amount of this bond, together with the issue I which it forms a part does not exceed any limitation prescriberi k" I the Constitution or Statutes of the State of Utah, that an amount I the revenues to be derived from the electric light and water m ! I and system of said City has been pledged and will be set aside if I a special fund by said City sufficient for the prompt payment of tk I principal of and interest on this bond and the issue of which it i I part, and that the revenues of said plant and feystem have not b 8 I pledged, hypothecated or anticipated in any way other than bv th" I issuance of the series of bonds of which this bond is one. I If this bond shall ever be held to be invalid or ineffective f I any reason, the holder of this bond is subrogated to all of the rieht I powers and privileges enjoyed by the holder of the bond refunded I hereby. I IN TESTIMONY WHEREOF, Springville City, Utah h t I caused this bond to be signed by its Mayor and countersigned lr I its City Recorder under the corporate seal of said City, and h I caused the interest coupons hereto attached to be executed bv n I facsimile signatures of said officers, all "as of the first dav of mL v I 1946. tl I SELVOY J. EOYER, I Mayor I Countersigned: I GLENN HANSEN, I City Recorder I 1 (Form of Coupon) I Numb" $7.50 I ' March, I j On the first day of September, 19 , Springville City Uil I h County, Utah, will pay to bearer Seven and 50100 Dollars ($7 50) I in the manner and out of the fund prescribed in the bond to which I this coupon is attached, and not otherwise, in lawful money of tht I 1 United States of America, at the Springville Banking Company I Springville City, Utah, for interest due that day on its Electric aid I Water Revenue Refunding Bond, dated March 1, 1946, and mini I bered ."...... ' I K SELVOY J. BOYER, I co m Mayor. I A Countersigned: I GLENN HANSEN, I " City Recorder. I , (Form of Auditor's Certificate) ve I, the undersigned, duly qualified and acting Auditor of Sprint-1 m ville City, Utah County, Utah, do hereby certify that the with! I 1 bond is within the lawful debt limit of Springville City, Utah and i- I for issued according to law. ' kef Witness my official signature this dav of I uv 1946. I c I ma LEGAL NOTICES NOTICE OF BOND REDEMPTION Notice is hereby given that Springville City, Utah County, Utah, has called for payment on March 1, 1947, One Hundred Twelve Thousand Dollars ($112,000) of its outstanding Electric and Water Revenue Bonds dated September 1, 1941, in denominations of $1,000 each, numbered, due and payable, and bearing interest as follows: Bond Numbers Amount Int. Rate Maturity 39 to 48 incl $10,000 2 September 1, 1947 49 to 59 incl $11,000 2 September 1, 1948 60 to 70 incl $11,000 2 September 1, 1949 71 to 81 incl $11,000 2 September 1, 1950 82 to 92 incl $11,000 2 September 1, 1951 93 to 104 incl $12,000 2 September 1, 1952 105 to 116 incl $12,000 3 September 1, 1953 117 to 128 incl $12,000 3 September 1, 1954 129 to 140 incl $12,000 3 September 1, 1955 141 to 150 incl $10,000 3 September 1, 1956 Said bonds may be presented at any time at the place where they are payable by their terms or to the First Security Trust Company, Com-pany, Salt Lake City, Utah, and receive payment in full of $1,000 for each $1,000 bond, plus a premium of $10.00, plus interest in full to March 1, 1947, on which date interest on said bonds shall cease. If presented for payment prior to September 1, 1946 the coupon due September 1, 1946 and all subsequent coupons must be attached to said bonds, and if presented for payment after September Sep-tember 1, 1946 the coupons due March 1, 1947 and all subsequent coupons must be attached to said bonds. BY ORDER OF the City Council of Springville City, Utah, this 2nd day of April, 1946. SELVOY J. BOYER, Mayor of Springville City, Utah. (SEAL) Attest: GLENN HANSEN, City Recorder, Springville City, Utah. ORDINANCE No. AN ORDINANCE PROVIDING FOR THE ISSUANCE OF i ONE HUNDRED TWELVE THOUSAND DOLLARS ($112,-000) ($112,-000) ELECTRIC AND WATER REVENUE REFUNDING BONDS OF SPRINGVILLE CITY, UTAH COUNTY, UTAH, TO BE ISSUED FOR THE PURPOSE OF REFUNDING A LIKE AMOUNT OF ELECTRIC AND WATER REVENUE BONDS OF SAID CITY, PRESCRIBING THE FORM AND OTHER DETAILS OF SAID REFUNDING BONDS AND FOR THE PAYMENT OF THE SAME. WHEREAS, by the result of a special election duly and lawfully law-fully called and held in Springville City on the 3rd day of October, 1941, the said City was authorized to issue and sell Three Hundred Thousand Dollars ($300,000) Electric and Water Revenue Bonds of Springville City, Utah, for the purpose of defraying the cost of construction con-struction of extensions and improvements to be made to the electric and water plant and system, including all engineering, legal, fiscal, and other costs incident thereto, the said bonds being dated September Sep-tember 1, 1941, in the denomination of $1,000 each, numbered consecutively con-secutively from one (1) to three hundred (300), both inclusive, and maturing serially in numerical order as follows: $ 9,000 September 1, 1943 $12,000 September 1, 1955 9,000 September 1, 1944 13,000 September 1, 1956 10,000 September 1, 1945 13,000 September 1, 1957 10,000 September 1, 1946 14,000 September 1, 1958 10,000 September 1, 1947 14,000 September 1, 1959 11,000 September 1, 1948 14,000 September 1, 1960 11,000 September 1, 1949 14,000 September 1, 1961 11,000 September 1, 1950 15,000 September 1, 1962 11,000 September 1, 1951 15,000 September 1, 1963 12,000 September 1, 1952 16,000 September 1, 1964 12,000 September 1, 1953 16,000 September 1, 1965 12,000 September 1, 1954 16,000 September 1, 1966 bonds numbered from 1 to 48, inclusive, bearing interest at the rate of two and one-half per cent (2) per annum until paid, bonds numbered from 49 to 104, inclusive, bearing interest at the rate of two and three quarters per cent (2) per annum until paid, bonds numbered from 105 to 150, inclusive, bearing interest at the rate of three per cent (3) per annum until paid, and bonds numbered num-bered from 151 to 300, inclusive, bearing interest at a rate to be determined by the City Council by proper resolution, but in no event to exceed interest at the rate of five per cent (5) per i annum; bonds numbered from 39 to 300, inclusive, being callable for redemption at the option of Springville City in whole, or in part in inverse numerical order, on March 1, 1947, and on any interest payment date thereafter at par and accrued interest to the date fixed for redemption plus a premium of S10.00 for each hnnri t-o. to issue the same; and that bonds numbers 29 to 150, inclusive, now outstanding, are the legal and valid and outstanding obligations obliga-tions of said City payable solely from the net revenues derived from the operation of said electric and water systems to the extent and in the manner provided in the ordinance under which said bonds were issued, and WHEREAS, there are no funds available for the payment of bonds numbered 39 to 150, both inclusive, which bonds are callable call-able for redemption at the option of the City on March 1, 1947, and it has been determined that said bonds may be refunded through the issuance of bonds bearing a lower rate of interest, and WHEREAS such refunding will be for the best interests of said City and the taxpayers and the residents thereof, and it is the opinion of this City Council that such refunding should be effected, the refunding bonds being authorized pursuant to the authority granted by the electors in said City in the initiative ordinance approved ap-proved at the election on the 3rd day of October, 1941, entitled: "AN ORDINANCE Providing for the construction of extensions and improvements to the municipally owned electric and water plant and system of Springville City, Utah; authorizing and providing for the issuance of $300,-. 000 Electric and water revenue bonds of Springville City, Utah, for the purpose of defraying the cost of the construction construc-tion of such extensions and improvements and the acquisition acquisi-tion of additional water; prescribing the form and other details of said bonds; providing for the collection and disposition dis-position of the revenue to be derived from the electric and water plant and system; making other provisions with respect re-spect to the operation of said plant and system and the issuance of said bonds and providing for the payment of said bonds" NOW, THEREFORE, BE IT AND IT IS HEREBY ORDAINED BY THE 'CITY COUNCIL OF SPRINGVILLE CITY, UTAH COUNTY, UTAH, AS FOLLOWS: Section 1. That for the purpose of refunding One Hundred Twelve Thousand Dollars ($112,000) Electric and Water Revenue Bonds of Springville City, numbered, due, and payable, and bearing interest as follows: Bond Numbers Amount Int. Rate Maturity 39 to 48 incl $10,000 2 September 1, 1947 49 to 59 incl 11,000 2 September 1, 1948 60 to 70 incl 11,000 2 September 1, 1949 71 to 81 incl 11,000 2 September 1, 1950 82 to 92 incl 11,000 2 September 1, 1951 93 to 104 incl 12,000 2 September 1, 1952 105 to 116 incl 12,000 3 September 1, 1953 117 to 128 incl : 12,000 3 September 1, 1954 129 to 140 incl 12,000 3 September 1, 1955 141 to 150 incl 10,000 .....3 September 1, 1956 callable for redemption at the option of the City in whole or in part, in inverse numerical order, on March 1, 1947 or on any interest payment date thereafter, at par and accrued interest to the date fixed for redemption plus a premium of $10.00 for each bond being redeemed, said bonds being in the denomination of $1,000 each, there shall be issued Springville City Electric and Water Revenue Refunding Refund-ing Bonds, Series of March 1, 1946, in the amount of One Hundred Twelve Thousand Dollars ($12,000), dated March 1, 1946, in denominations de-nominations of $1,000 each, numbered and due and payable without option of prior payment as follows: Bond Numbers Amount ' Maturity 1 to 10 incl $10,000 September 1, 1947 11 to 21 incl :.. 11,000 September 1, 1948 22 to 32 incl 11,000 September 1, 1949 33 to 43 mcl 11,000 : September 1, 1950 44 to 54 incl 11,000 September 1, 1951 55 to 66 incl 12,000 September 1, 1952 67 to 78 incl 12,000 September 1, 1953 79 to 90 incl 12,000 September 1, 1954 -Lt??5 incl 12'000 September 1, 1955 103 to 112 mcl 10,000 September 1, 1956 bearing interest at the rate of one and one-half per cent dVo) per annum, interest payable semi-annually on March 1 and September Sep-tember 1 of each year, commencing September 1, 1946. The principal of and the interest on said bonds shall be payable at the Springville Banking Company, Springville, Utah. . Section 2. Said refunding bonds shall be issued and delivered as soon as possible to Edward L. Burton and Company and Ure Pett and Morris, both of Salt Lake City, Utah, upon receipt of the purchase price of par and accrued interest, and the Treasurer is authorized and instructed thereupon to deposit with the First Security Secur-ity Trust Company of Salt Lake City,-Utah, in an irrevocable trust account, the sum of $112,000 to pay the principal of the bonds called for redemption and the sum of $1,120.00 to pay the premium thereon, there-on, and the sum of $3,170.00 to pay the interest in full on said bonds & t l94u to"March 1. 1947, inclusive, with instructions that said bank shall pay m full for any bonds presented for payment at any time prior to March 1, 1947, provided, however, that if prior to delivery of the refunding bonds Edward L. Burton and Company and associates have advised the City that it has in its possession some of the bonds called for redemption, then the City shall deliver refunding bonds of the appropriate numbers to Edward L Burton and Company and associates, who shall pay interest to date of such exchange on the refunding bonds and shall receive the par value plus fn ? dPt P-,rnium 0f ?10-00 Per S1'000 bnd, plus interest in full to March 1, 1947, on the bonds surrendered to the City and the funds escrowed with the First Security Trust Compkny of Salt Lake SoX t0 er "my mteSfef KsK Springville Banking Company in Springville mah a Ah ,, k bvThe IV May,r f SPrinSvme CPitySand shS "be counterstgned by the City Recorder, and shall have the corporate seal of saM Cirv impressed thereon, and the interest coupons attached L 7 shall be executed with the facsimile signatures of sai MJ said Recorder, which officials by the execution of sa d bnds shall adopt as and for their own proper signatures, their respective facsimile signatures appearing on said coupons respective by being transferred to bearer, after which they shall hi t w T by delivery, but may be again registered as before Th! tansferfble of said bonds as to principal shall no restrn fL .tion the coupons thereto attached by deliver mereH EaTh f successive holder of said bonds during such time as thev t 17 to bearer and such holder of each of the 1! ll Y f 6 ??yable are conclusively presumed to forego Ind renounce T ad equities in favor of subsequent holders for vllue wftnn,,t nf the'5 to agree that said bonds while so payable to bearTr anH not'ce- and coupons thereto attached, may be negotiated hv 'r eachu0f the person having possession thereof? howsoever such nnT by any have been acquired, and that any'hoWer who shall mZ bonds or any of the coupon fmm f ave taken sa d notice, rlutelj and without fenses enforceable against any prior holder a, if I any de" and claims of ownership of any such prior hoWer S?" l? and its officials and the ringville BaSkhT CoZ'Jl City City Utah shall not be affected by any nltfce To XnrT11116 Section 5. That said bonds and coupons and the hi,, pear on the back thereof shall be in Srbstnatutl,VhheanLSlltowrnPg (Form of Bond) UNITED STATES OF AMERICA STATE OF UTAH COUNTY OF UTAH SPRINGVILLE CITY ST WATER REVENUE REFUNDING BOND SPRINGVILLE CITY in the Counrv of rtfv, . ?1.00.00 for value received hereby ' promises to pa v to SUte 0f Utan' bond be registered, to the registered holder tnerenf r if this fund hereinbelow designated and I not other?' T f the sPecia' Thousand Dollars ($1,000) on the first davf 6 SUm of ne with interest thereon from the date hereof L n e??ter, 19 one and one-half per cent (1 V ) ner annm 1P - the rate of 1946, and semi-annually thereafter on the J P3'6 SePte 1, September of each year, upon presentation fayS 0f March ad annexed interest coupons aSP theTame severallv f.f,"6"1- f the cipal and interest being payable in lwfu, money o ,PHn-of ,PHn-of America at the SpringviHe Banking CoZPlVL! vineTctybun by Spring the electors of said city on October 3 on 0rdlnance adopted by ordinance adopted by the City Council of said' cirv "l'PPlcm,cnted by for the purpose of refunding a like prin im y .n Apnl 2' 19'6, inally issued under said initiated offlnce Bh'n ' or' interest on this bond and the issue of which it u PnnclPal f and f 150,000 bonds remaining to be issued under h a Part' U"MX initiated ordinance, are payable sole froZ z sZciFJTT f as the "Springville City Electric and Wator Rcvcn lp n "'Watcd Fund," into which fund are to be placed thr I nd Si'i from the operation of the electric and water svstnn, rCn,,CS llcr'v'd as more fully provided in the aforesaid ordinance dly' n" The City has covenanted and agreed and rio i and agree that it will fix such rate! for the s i lo 'T'T cv''mt water and will collect and account for the revem. l:loi'1Lri,'ll-y mid s to be received , Auditor. I , (Form of Registration Certificate) I . MI Date of In Whose Signature of ( ' - Registration Name Registered City Recorder I ; j cui the ; I eve I Art I A Section 7. That notwithstanding anything in this ordinanij the elsewhere contained, the principal of and interest on said boril R shall be payable only out of the net revenue derived and to be dt-1 whic rived from the system, and in no event shall said bonds or the it-1 men terest accruing thereon be deemed or construed to be a general : I Earl debtedness of said City or payable from any funds of said Cityott;: j, than those derived from the operation of the system. I t Section 7. The refunding bonds herein authorized shall be pa; I w able as to both principal and interest from the "Springville S K! c Electric and Water Revenue Bond Sinking Fund" established bv Se:-1 tion 9 of the ordinance adopted by the voters of Springville City (.'I RHI October 3, 1941, entitled: I Ear "AN ORDINANCE providing for the construction of j 7 extensions and improvements to the municipally owned Ul electric and water plant and system of Springville City, I Hol Utah; authorizing and providing for the issuance of $300,- ridi 000 Electric and Water revenue bonds of Springville City, j throu Utah for the purpose of defraying the cost of the con- day. struction of such extensions and improvements and tte I acquisition of additional water; prescribing the form and I tr; other details of said bonds; providing for the collection and I ,.( 1 disposition of the revenue to be derived from the electric "'e He and water plant and system; making other provisions vM t respect to the operation of said plant and system and the as t; issuance of said bonds and providing for the payment of I The said bonds." f rides t in all respects as is provided in said ordinance for the payment -I sUmnie piincipal of and interest on the bonds herein authorized to be n I activjtj : and ls hereby expressly provided, covenanted and ag on , ,nds lssued Pursuant to this ordinance shall be -1 Grpj , twlLng Pwers an(3 privileges enjoyed by the bonds retur, . thereby under the provisions of Sections 9, 10 mid 11 of said on. f -So .at the Provisons, covenants and agreements con& n-Ji .Sections 9, 10, and 11 shall be fully applicable to the M A p w,m ereu"der t0 the same extent and in like manner as 1 1 (y j rml?HVe ,6n aPP'icabIe to the bonds refunded had such "; A. C. c 1 w ""refunded and all of the provisions of said SectuM th'P hnnrtJare- Cby rPeated and re-adopted for the benei.i I , section, Cre,m authrized to be issued, a id that after the t sections were herein set out in full. a canTuThat the Provisions of this ordinance shall cons- e , the hl h etWeen Springville City and the holder or hoM M the bonds herein authorized to be issued, and that after tM H V anv?n"yMf SUCh bonds 110 chailge, variation or alters Mpea mnni? m l1G Provisis of this ordinance shall be made i ; E. bond, f v aS hCrcin Provided, until such time as all M H0 bonds issued hereunder and interest due thereon have been H W I 4 of twf, 9- Thnt if a,,v action, paragraph, clause or P. Coffey reason 'dlnance. be held to be invalid or unenforceable X V clause' I lnVa 'dlty or wnformibility of such sectiok p it clause or provision shall not affect any of the ro.i.ai.iinS P' a'0 oi tnis ordinance. " ,. 1 a Mrs be invr",011 10-lf y bond of this refunding issue shall $ bond ?. ?r ,nefre've for any reason, the holder of the ; AW joyed bvStlhor0f,t,d l n" f 11,0 r,Khta- Pro'0,'S (UUi pr'V t,L i "t1''1' 1,1 th0 bond refunded thereby. rf thereni' n U,Tlmt ordinances, resolutions and order. 'r I J, j, exte r T"1'1 wllh thu Provisions of this ordina.iee Pj - S extent o such conflict, hereby repealed In it Is ne e'"1 12lu U, opinion "of the City Council of Sprij'P . OrdiST l U, IU1U-0' "oalth and safety of said . ' , k St here v ri? .bw5' operative Immediately; that " ''""K .the Hi V ul th.it this Ordinance shall W pohM' (1 f 8t,n pu 1 sl ed ? ,1;1":v",e ""-"W- vveoklv newspaper 1", W;i()n- shall bo in f 1 1 r i i i g v 1 1 1 e City, Utah Count v, Slate ol ;"J V '?"m,,Iul t,,k '-''''t Immediately .mo., the H of pu.ssnM, approval and publication. 'bo 0f ' i9i(AD0PTED AND ArPUOVKO this nd day of M"il 1 'a SKI.VOV J. KOYKK. kgH, Mayor, Sprlnf.vlllo City. ' ';. f At AM , IViinly. Slate el I ' ' Attest; I an j CI.ENN IIANSKN, 'l tl-rpS1 CltV Heeonlec, Sprlnj-.vlHo v ' . ' hity P-Utah P-Utah County, Stale d I t,e ' 'Sr deemed, and WHEREAS, by resolution duly passed by the City Council on the 6th day of October, 1941, the issuance and delivery of One Hundred Fifty Thousand Dollars ($150,000) of said bonds, numbered, num-bered, due, and payable, and bearing interest as follows-Bond follows-Bond Numbers Amount . Int. Rate Maturity 9 incl $ 9,000 2V2 September 1, 1943 J 1 lo mC 9'000 2 September 1, 1944 H t 2f inc - 10,000 2 September 1, 1945 ! to 38 mcl 10,000 2 September 1, 1946 fQ 1 H mc 1.000 2 September 1, 1947 fn 59 incl 11,000 2 September 1 1948 ?? I? mc "'000 2 September 1 1949 H 1 H mc lOO 2 September 1, 1950 to 92 mc 11,000 2 September 1, 1951 itni? m ' 2V,; September 1 1952 tivtJll mC li'Tn 3 ' September 1 1953 ,l J?2 mC 12'00 3 September 1 1954 9 to 140 inc 12,000 3 September 1 1955 itt0 1? '"C ;t-"T- 10'000 3 ' September 1 1956 was authorized, bonds numbered 39 to 150, inclusive, being callable for redemption at the option of Springville City, in whole or in part m inverse numerical order, on March 1, 1947 or any interest nav-ment nav-ment date thereafter, at par and accrued interest to the date fixed for redemption, plus a premium of $10.00 for each bond redeemed which bonds have heretofore been issued and delivered to the Dur-chasers Dur-chasers and the City has received full purchase price therefor; and bonds numbered 1 to 28. inclusive, have heretofore matured and been paid; and bonds numbered 29 to 38, inclusive, are due ?n, PayabIe September 1, 1946, and funds are or will be available 151 tonyme'?t f Slid bndS at maturity, and bonds numbered wni. o 300 inclusive, have not as yet been issued because, due to var and other conditions, the City has been unable to purchase :vqeTePrau?Larrzdedt,aCndmPlete ts which WHEREAS, the City Council of Springville City knows it to and Wf T her6bX C6rtifieS that a)1 of sajd $150,000 Electric and Water Revenue Bonds numbered 1 to 150, both inclusive were duly and lawfully issued and sold; that all acts and things required to be done precedent to and in the issuance of said bonds we e law hv ?h ?-; thathV? PUrChaSe Price for said bonds wa Trece ivTd by the city, and that there has never been nor is there now ! litigation pending or threatened affecting in any way the leealitv or validity of said bonds or any of them or the right of said C y |