Show LEGAL NOTICES ORI ORDINANCE NO 81 56 AN ORDINANCE TO CON CONTRACT CONTRACT TRACT AN INDEBTEDNESS ON BEHALF OF OP MOAD MOAB CITY GRAND COUNTY UTAH AND UPON TIlE THE CREDIT THEREOF DY BY ISSUING THE TilE NEGOTIABLE BLE DLE COUPON GENERAL OBLIGATION OBLIGATION OB on WATER AND SEWER SEW SEW- ER En BONDS OF MOAB MOAD CITY IN TilE THE AGGREGATE PRiNCiPAL PRINCIPAL PAL AMOUNT OF ACCEPTING TilE THE BEST nEST BID DID FOR SAID BONDS DONDS PRESCRIBING ING THE TilE FORM OF SAID SArD BONDS DONDS AUTHORIZING TIlE THE SALE THEREOF PROVIDING FOR TOR TilE THE LEVY OF A TAX TO PAY rAY THE PRINCIPAL AND INTEREST THEREOF PRESCRIBING PRE SCRIBING DETAILS IN CON CON- THEREWITH AND PROVIDING TIlE THE EFFECTIVE DATE OF THIS ORDINANCE WHEREAS Moab City In the I County of Grand and State of Utah Is an Incorporated city duly organized and existing under the laws of the State of Utah as a city of the third class and I WHEREAS Moab City was wa duly proclaimed a city of the third class classon on the day of September 1936 and WHEREAS at a special election duly called and held at the same time as the general election of municipal mu officers in Moab City on the day of November 1955 there was submitted to the electors of the city qualified to vote there on the following question wit to-wit Shall ShaH the negotiable coupon general obligation bonds of ol Moab City Grand County Utah In the aggregate principal of or so much thereof as may be necessary necessary sary payable within not to exceed exceed ex ex- ex thirty years from date of Issue and bearing Interest at a arate arate arate rate not exceeding five per cen cen- tum turn per annum payable semiannually semi semi- v annually be Issued and sold for forthe forthe forthe the purpose of constructing Im lm- Improvements enlargements extensions extensions ex ex- ex tensions and betterments to the present water and sewer system of said City In order adequately to supply water and sewer service service service ser ser- vice to the Inhabitants thereof the same to be owned and controlled controlled controlled con con- trolled by said municipality and WHEREAS more than a majority major ity of the qualified electors of the City voting on the question so submitted voted In favor of the Issuance of the bonds and WHEREAS the City Council of Moab City has heretofore authorized author and sold of said issue in the aggregate principal amount of bonds in the aggregate aggregate I gate principal amount of and WHEREAS prior to advertising said bonds for sale the Mayor and City Recorder of said City offered said bonds in writing on behalf of said City to the State Commission of Finance pursuant to the laws of the State of Utah a true copy of the reply of said Commission being as follows THE TIlE STATE OF UTAH Commission of Finance Salt Lake City 14 Utah January 6 1956 Honorable J J. J W W. Corbin Mayor 1 J I T t Moab Utah If t LEGAL NOTICES Dear bear Mr Corbin Your letter of December 29 1955 has been received and re ref viewed As of this date this Commission cannot see Its way clear to make any commitments on the remainder remain der of the bond Issue and If It It Is necessary for you to have a commitment It might be bewell bewell I well for you to advertise these for sale We have other commitments that were approved during the current cur eur rent year and available funds for Investment will depend entirely on revenue and It Is It quite unlikely that money In sufficient amounts to purchase your entire bond Is Issue issue Is sue will be available Sincerely yours COMMISSION OF FINANCE SIGNED D D. II Chairman WHEREAS In accordance with the statutes of the State of Utah said bonds in the aggregate prin- prin pal amount of were advertised for public sale and WHEREAS the bids received were at the hour of o'clock PM rM Mountain Standard Time on Tuesday the day of September Septem Septem- ber 1956 publicly opened and considered con con- and WHEREAS it t has been determined determined deter deter- mined and the City Recorder has hasso hasso hasso so certified to the City Council that the bid submitted by Edward Edwarc L L. Burton Durton and Company was the best bid submitted for the purchase purchase purchase pur pur- chase of said bonds NOW THEREFORE BE IT ORDAINED ORDAINED OR OR- BY THE CITY COUNCIL COUNCI L OF MOAB CITY GRAND COUNTY COUNTY COUN COUN- TY UTAH Section 1 I. That the bid submitted submit submit- ted by Edward L L. Burton and Company Company Company Com Com- pany for the Moab City Utah General Obligation Water anc and Sewer Bonds Series October 1 1 1956 In the aggregate principal amount of be and the same hereby is Is accepted Section 2 2 That all all action heretofore heretofore heretofore here here- taken by the officers o of Moab City directed toward constructing constructing constructing con con- improvements enlargements enlarge enlarge- enlargements ments extensions and betterments to the present water and sewer system of Moab City in order adequately adequately adequately ade ade- to supply water and sewer sewer sew sew- er service to the inhabitants there there- thereof of of and the the issuance of said bonds For tor that purpose be be and the same hereby is ratified approved and confirmed Section 3 That for the purpose of providing funds to defray in part the cost of constructing Improvements im im- enlargements extensions extensions exten exten- and betterments to the present present present pre pre- sent water and sewer system of Moab City there shall be Issued said negotiable coupon bonds of said City designated Moab City Utah General Obligation Water and Sewer Bonds Series October 1 I 1956 In the aggregate pal jal amount of consistIng consistIng consist consist- Ing of 40 bonds In the denomination denomination atlon of each numbered consecutively from 1 to 40 both inclusive bearing date as of the first day of October 1956 maturing matur ing serially without option o of prior redemption on the first day of October in the year 1957 In each of the years 1958 and 1960 both eur hi i- i tint o lass u l rI I i 4 j ti 00 f t t V 1 CROW DISTILLERY CO DIV OF NATIONAL DIST PROD CORP f t v Y Yr r i. i j r is URANIUM STOCKS I P SEPTEMBER 27 1956 Atlas AUas 05 1 06 Mt Peale 05 06 Beaver Deaver Mesa 21 23 Sec 80 90 Beehive 02 03 Pinon Sabre Big Horn 06 07 producers 02 03 Mex U 09 11 Royal 09 12 Dig Big Piney 75 80 Standard 65 05 75 Federal 1374 4 humway 40 62 Four Corners Sun Sun 09 11 03 04 Sterling 04 05 napp OO 4 Ula 05 06 Lisbon White Canyon 57 51 62 Moab 02 03 Yellow at OO 00 01 CUSS GUSS SECURITIES CO r STOCKBROKERS UND Moab Branch Office Salt Lake Lak city aty once Office Ji P P. P 0 O. O Box t 3 Eo E Broadway Moab Utah luau Ibon 4 I io ALpine 2111 1 Teletype ISS Rui lane M LEGAL NOTICES live and in the year 1961 and bearing Interest payable semiannually on the first days of April and October of each year at the rate of four and quarter one 4 4 per per annum both principal and Interest being payable In lawful money of the United States State of America without with I out deduction for exchange or collection col lection charges at the First Security Security Se flank Dank of Utah NA Fourth South Street Branch Dranch Salt Lake City Utah Section 4 4 That said bonds shall be signed by the Mayor and City Treasurer and attested by the City Recorder and sealed scaled with the corporate seal of said City The coupons attached to said bonds shall bear the facsimile signature of the City Treasurer which officer by the execution of said bonds shall ado adopt t as and for his signature signa a. ture the facsimile thereof appearing appear ing on said coupons Said bonds and coupons bearing the signatures of the officers In office at the time of the signing thereof shall be the valid and binding obligations obliga lions of Moab City notwithstanding ing that before the delivery thereof there there- of and payment any orall or orall orall all of the persons whose signatures signa tures appear thereon shall have ceased to fill their respective of of- Section 5 That said bonds and the coupons thereto attached shall be in substantially the following form Form of Bond Dond UNITED STATES OF AMERICA STATE OF UTAH COUNTY OF GRAND MOAB CITY GENERAL OBLIGATION WATER AND SEWER BOND nOND SERIES OCTOBER 1 I 1956 I No Moab City in the County of Grand and State of Utah acknowledges acknowledges ledges itself Indebted and hereby promises to pay to the bearer hereof hereof here here- of the sum of ONE THOUSAND DOLLARS DOLLARSon on the first day of October 19 with interest thereon according to the coupons hereto attached payable payable payable pay pay- able semiannually on the first days of April and October In each year both principal and interest being payable In lawful money of the United States of America at First Security Bank of Utah NA Fourth South Street Branch Salt Lake City Utah upon upon up up- on presentation and surrender of this bond and of the annexed coupons as they severally become due This bond Is Issued by Moab City for and on behalf of f said City and upon the credit thereof there there- of for the purpose of constructing constructIng constructing construct construct- ing improvements enlargements extensions and betterments to the he present water and sewer system tern tem of said City In order to adequately adequately ade ade- supply water and sewer service to the inhabitants thereof there there- of ol under the authority of and in Full conformity with the Constitution Constitution and statutes of the State of Utah and pursuant to an ordinance ordinance ordinance or or- of said City duly adopted adopt adopt- ed ed published and made a law of of said City prior to the Issuance of this bond It is hereby certified and warranted warranted warranted war war- ranted that the issuance of this bond has been authorized by the electors of Moab City qualified to vote on the question at a special special cial election held in said City on the day of November 1955 It is h hereby reby certified and re recited recited reo re- cited that all the requirements of law have been fully complied with by the proper officers of said City in the issuance of this bond that the total Indebtedness of said City including that of this bond does docs not exceed any limit of indebtedness prescribed y V V the Constitution or laws of the State of Utah and that provision provision pro pro- vision has been made for the levy and collection of annual taxes sufficient to pay the Interest on and the principal of this bond when the same become due Ti The faith and credit of Moab City are hereby pledged for the payment of or the principal pal of and the interest on this bond JN lN WITNESS WHEREOF Moab City has caused this bond to be signed by its Mayor and City Treasurer and its corporate seal t to be affixed hereto attested by its City Recorder and the annexed annexed an an- interest coupons to bear the facsimile signature of the City Treasurer as of the first day of October 1956 Do not Sign SEAL Mayor Do not Sign Attest City Treasurer Do not Sign City Recorder Form Fonn of Coupon No On the first day of April and October 19 Moab City Inthe in inthe inthe the County of Grand Orand and State of Utah will pay to the bearer DOLLARS at at First Security Rank Bank of Utah N N. A A. Fourth South Street Branch Salt Lake City Utah in lawful money of the United States of America being six months month's interest on Its General Obligation Water and Sewer Bond Series October I I. I 1956 and bearing bear bear- Ing ng No Facsimile Signature City Treasurer Treasure Form Fonn of Certificate AUDITORS AUDITOR'S CERTIFICATE I certify that this bond is within with with- In n the lawful debt limit of Moab City In the County of Grand Orand and State of Utah and Is Issued according to law Dated this day of 1956 Do fl Not t Sign 1 LEGAL NOTICES City Recorder and Ex Officio City Auditor r Section 6 That the Mayor the City Treasurer and the City I Recorder of said City are hereby authorized and directed to prepare prepare prepare pre pre- I pare and said bonds as herein provided Upon such execution execution ex ex- ex of said bonds they shall be delivered to said City treasurer treasurer Treasurer Treas to be by him delivered to the purchaser of the bonds at a aprice aprice price not less than the principal principal pal amount thereof and accrued Interest to the date of delivery I e e. e a price of not less than their face value Section 7 7 The funds realized from the sale of the bonds auth auth- by this ordinance shall be applied solely to the purpose of defraying In part the cost of I instructing Improvements i enlargements enlargements en en- extensions and betterments betterments bet bets to the present water and sewer system of Moab City in Jn order adequately to supply water and sewer service to the Inhabitants thereof but the purchaser purchaser pur pur- chaser of said bonds shall In no manner be responsible for the or disposal by said City or by any of its officers of any of the funds derived from the sale thereof I Section 8 That at the time andIn andin and In the manner provided by law commencing In the year 1956 and annually thereafter while any II of the bonds herein authorized are arc outstanding and unpaid in order to provide for the pay payment payment payment ment of the principal and interest interest inter inter- est cst as the same become due there shall be levied on all the taxable property In the City In addition to all other taxes direct annual taxes sufficient to provide provide provide pro pro- vide for payment of such principal principal prin prin- cipal and interest and said taxes when collected shall be deposited deposit deposit- ed in a special fund to b bE be known as The October 1 t I. I 1956 General Obligation Water and Sewer Bond Dond Fund and such fund shall be applied solely for far the purpose purpose purpose pur pur- pose of the payment of the Interest interest In in- terest on and the principal of i isaid said bonds respectively and for forno forno I Ino no other purpose whatever un until until un- un til the Indebtedness so contracted contract contract- ed under this ordinance both principal and interest shall have been fully paid satisfied and discharged discharged dis dis- dis charged but nothing herein contained contained con con- shall be so construed as asto asto asto to prevent said City from applying any other funds that may be in inthe inthe inthe the treasury and available f for r that purpose to the payment of said interest or principal as the the- same respectively mature and upon such payments the levy or levies herein provided may thereupon to that extent be di di- The sums hereinbefore provided to meet the interest on said bonds and to discharge the principal thereof when due are hereby applied to that purpose and said amount for each year shall be included In the annual budget and the appropriation bills to be adopted and passed by the City Council of said City in each year respectively S Section 9 That it shall be the duty of the City Council of said City annually at the time and in inthe inthe inthe the manner provided by law for levying other taxes if such action action ac ac- ac tion shall be necessary to effectuate effectuate the provisions of this ord finance to ratify and carry out the provisions hereof with reference reference ref ref- to the levy and collection of taxes and that said City Council Council Council Coun Coun- cil shall require the officers of and for said City to levy extend extend ex ex- ex- ex tend and collect such taxes in the manner provided by law for fie purpose Se of at creatIng a fund for for the payment of the principal LEGAL NOTICES sal sal- I of f said bonds and the Interest accruing thereon Such taxes when eollo collected ted shall be kept for and applied only to the payment pay pays ment of the Interest and principal pal Ial of said bonds as fore specified Section 10 That the officers of Moab City they hereby are authorized and directed to take all action necessary or |