Show r t R i 1 rl LEGAL NOTICES 1 ORDINANCE NO 4 62 k v Series 1962 I t tot t t TO CONTRACT AN INDEBTEDNESS ON Bt BEHALF BE- BE I HALF OF MOAB MOAn CITY UTAH AND UPON TIlE THE CREDIT r BY Y ISSUING THE TIlE NEGOTIABLE COUPON GENERAL OBLIGATION O WATER AND SEWER SEWEll BONDS norms OF 01 TOE TIlE CITY IN TIlE THE AGGREGATE PRINCIPAL AMOUNT OF 00 PRESCRIBING TILE THE FORM OF SAID BONDS PROVIDING FOit FOR TIIE LEVY OF A TAX TO PAY TIlE PR PAIN CIPAL ANT AND THEREOF PRESCRIBING OTHER DETAILS IN CONNECTION THEREWITH AND PROVIDING I I TIlE THE EFFECTIVE DATE OF TIllS THIS ORDINANCE WHEREAS Moab City In the Ule County of Grand and State Slate of or Utah herein sometimes de designated as the City Is an Incorporated City of the third class having been so 10 proclaimed on the day of 0 of September 1936 duly organized and existing under the laws of the State of ot Utah a and do WHEREAS Moab City now owns and operates a municipal water facility and nd municipal sewer facility both being operated and maintained as a Joint water and sewer system sometimes sometime designated herein as M the system for the tM benefit of the City and andUs its Us inhabitants s and WHEREAS S at the re regular lar election for municipal officers duly called caned and held held heldon on the day of November 1901 1961 there was i submitted sub to the electors of the City qualified to 10 vote thereon the following question s Shall ShaH the negotiable coupon general obligation bonds of t i Moab Moab City Grand County Utah in the aggregate principal amount 0 of or so much thereof as 85 may be necessary payable within a n period not to exceed forty years from date I It- It of issue and hearing bearing interest at nt a rate not exceeding six per I payable semiannually be Issued and sold for the purpose purpose purpose pur pur- pur- pur pose of constructing Improvements enlargements extensions and betterments to the present water and sewer system of said City In order adequately to supply said City with water f t 1 and sewers the same to be owned owned and controlled by the municipality and andt t t WHEREAS the election on the aforesaid question resulted in 1 J 61 votes for water and sewer Bonds Donds and votes against said water and sewer sever Bonds Donds and WHEREAS the City Council of Moab City has determined and does docs hereby determine that It is necessary and for the best interests of the City and the inhabitants thereof that said general obligation water and sewer bonds of the City in the aggregate principal amount of be Issued and sold at nt this time to Peters Writer ChrIstensen Inc Denver Colorado at nt a n price of o par par and accrued Interest from date of the bonds to the date of delivery at nt the interest Tat rata hereinafter designated NOW THEREFORE m BIT IT ORDAINED BY ny TIlE THE CITY COUN COUN- CIL OF m MOAB MOAD CITY GRAND COUNTY UTAH t Section 1 1 That said election resulted In the approval of the issuance nce of oC the general obligation water and sewer bonds of Moab City in the aggregate amount of as aforesaid and the result of said election is hereby so declared Section 2 That all action heretofore taken by the officers of Moab City directed toward constructing improvements enlargements enlargements enlargements enlarge enlarge- ments extensions and betterments to the present Joint water and sewer system of Moab 1 City in n order adequately to supply said City with water and severs and the issuance of o the City s a bonds in the amount of for said purpose be and the same hereby is ratified approved and confirmed including without limiting the generality of the foregoing the sale for their face Cace value of the bonds herein authorized to Peters Writer Chrisi Christensen Chris Chris- I i Inc of Denver Colorado Section 3 That for the purpose of providing funds for conI constructing con- con Improvements enlargements extensions and betterments I to the present Joint water and sewer system of Moab City there shall be Issued the he negotiable coupon bonds bands of said City designated designated Moab City General Obligation Water and Sewer Sever Bonds Donds P Series January 1 1962 In the aggregate principal amount of oft t consisting of bonds in do the denomination denomination of 1000 00 11 each numbered consecutively from 1 to both inclusive bearing bear bear- Ing date as of the first day of January 1962 payable to bearer h and bearing Int interest rest from their heir date until maturity at nt the rate of four per 4 per annum payable semIannually on the I first days of January and July in each year commencing on the I first fast day of July 1962 evidenced from date until maturity by one 1 set of coupons attached to all of said bonds said bonds being 1 numbered and maturing serially In regular numerical order on I the first day of January in each of the designated amounts and years as follows Bond Numbers Amounts Years t t All Ail Inclusive Maturing Maturing 20 1 1978 40 21 1979 r 1 50 41 1980 f i 51 GO 1981 t L 1 N r 90 90 61 1982 91 1120 1983 1981 1985 1986 1386 1987 1988 1989 1990 f f 40 1991 ft 1 1092 1992 2 j uI 1 06 00 1994 J If II Upon presentation of ot any bond at maturity payment is not made as herein provided interest thereon shah shall continue althe at al atI atthe i the rate of four per 4 per annum until the principal thereof Is Js paid in n full Both Doth the principal of or and the interest on oni i x the bonds shall be payable upon presentation and surrender of I the annexed interest coupons and of said bonds as they severally I become due without deduction for exchange or collection charges I la n lawful money of the United States of America at the Ule First f Security Bank of Utah NA Moab Branch Dranch Moab City Utah y t. Section 4 4 All bonds are subject to prior redemption In Inverse 1 numerical order at the option of Moab City on the first day olt of ol t January 1977 or on any interest payment date thereafter at a aw 4 w price equal to the principal amount thereof with accrued interest to the redemption date and a premium of four per 4 of at the principal amount thereof Notice of redemption shall be f r given by the Treasurer of Moab City in the name of the City by I publication of such notice at least once not more than sixty nor less than thirty days prior to the redemption date In a newspaper at of general circulation in Moab l City and a copy of such notice shall be sent by registered mall mail at least thirty days prior to the redemption date to the original purchaser or purchasers of the bonds as representative of the holder or holders of the bonds am and amI to the First Security Bank of Utah NA Moab City Utah the designated above paying agent Such notice shall specify the number num num- ber or numbers of the bonds to be so redeemed if less than al all are to be redeemed and the date fixed for redemption and shall f a further state that on such redemption date there Utere will become and anc be due and payable upon each etch bond so to be redeemed at the First Security Bank of Utah NA in n Moab City Utah the principal amount thereof with accrued interest to the redemption date together together together to- to gether with the stipulated premium and that from and after such date interest will cease to accrue Notice having been given in the manner hereinbefore provided the bond band or bonds so called for tor redemption shall become due and payable on the redemption date so designated and upon presentation thereof at said bank together to to- get gether her with all appurtenant coupons maturing subsequent t to the t f redemption redemption date Moab City will pay the bond or bonds so called callec for tor redemption Section 5 5 That Tha t said bonds shall shaU be signed by the Mayor and Qty City Treasurer and att attested e i by the Cit City Clerk and Recorder and sealed with the corporate seal of f said City City City- The coupons att attached ched to fn said bonds shall bear the ta facsimile signature of the City Treasurer Treas Treas- which officer by the execution of said bonds shall adopt r t a m and for his signature the facsimile thereof appearing on said saidi j i coupons Said bonds honda and coupons bearing the signatures of the 1 officers In office at the time of the signing thereof shall be the valid and binding obligations cf ci Moab City CUy notwithstanding not that i before the delivery thereof and payment any or or- orall aU all o of off the ns whose signatures aPpear thereon shall shail f f Sy have ceased t to fi flU l their respective offices c. c Section cUon 6 6 That said bonds the certificates certificate to be endorsed thereon and the coupons to be thereto attached attach shall shaH be In sub r y the following tollo form torm Form of Bond Dond q UNITED STATES OF AMERICA I. I TO TO STATE STAn OF UTAH COUNTY OF GRAND GItANA f x MOAn crry f. f xi GENERAL WATER AND S SEIVER BOND BONDi i SERIES JANUARY 1 1962 i lt No if I F 1 OO i Moab City m in the Q of Grand and State of Utah ae tt t t edges Itself aril and hereby pr promises to pay to the bearer b A 1 the ONt ONE THOUSAND DOLLARS far Mr value received on OIl the first day o or of January 19 19 with n- n thereon from date until maturity maturity at the rate ot of four tour 4 per annum evidenced until maturity by only per t t of onet one coupons coupon being payable semiannually on the first days davs i al ot of January and arid July In to eed year g the first day of July I r ua upon presentation and wind s surrender of the annexed M coupons as ai INy y seve y become due dice both p l and inter interest t ten being beine pay able aWe in lawful money of 01 the UI of o oAr Ar u L at First Birt Security Hank Ba k fit of Utah fl N A A. Branch Moab Cuy City Utah ta H U. upon presentation of this bond at maturity payment te is not matte mad as u herein provided interest hr oa shall Iball at the e at pate pato of four tour Pit per par 4 per annum until the principal hereof paid pall in fU fuU d 11 This a bond is subject to prior redemption at the option of Moab aty QUy on January 1 1 1977 or on any interest payment date thereafter thereafter there there- after at a price equal to the principal amount hereof with accrued interest to the redemption date and ana a 11 premium 1 of at four tour per pel 44 4 eC of 01 the principal amount hereof such prior redemption to toj j ft I 4 a e A 4 LEGAL NOTICES he Me m made de upon t notice In the manner mann r and upon the condItions provided d In lit the ordinance authorizing the I Issuance of this bond This bond It Is I Issued by Moab City on behalf of or said City and upon th the credit It th thereof for tor the purpose pu of providing funds fus for fot constructing Improvements nt enlargements extensions and better betterments b betterment ment ments to fa the present water and sewer ewel system of said City In order adequately to supply lythe the City with water and end sewers under the authority of ot and In full conformity with the Constitution and statutes of ot the State of ot Utah and pursuant nt to an ordinance of sew said City duly adopted publish and made a law of said City prior to the Issuance of ot this hondo hand It I Is h hereby reby certified and warranted that the Issuance of this bond has hes been authorized ed by hy n a majority of electors of Moab City qualified to vote on the question and voting at an election held held in In sad said City City on the day day of November November r 1961 It Is ts h hereby reby certified And recited reeled that all aU the requirements requirement of or law have been fully funy complied with by the proper officers of said City in the Issuance of this MiU bond that the total indebtedness of said Mid City Including that of bond band does dOM not exceed any limit of Indebtedness prescribed by the Constitution or laws of the State of Utah and that provision has been made for the levy and collection ec co tion of o annual taxes sufficient to pay the Interest on and the of this bond band when the same become due The faith and credit of Moab City Is hereby pledged for the punctual payment of the principal of and end the Interest on this bond IN WITNESS WHEREOF Moab City has hall caused this bond to tobe tobe tobt be bt signed by its Mayor and City Treasurer and Its corporate sea seal sMI to be affixed hereto attested by Its Us City Clerk and Recorder and the annexed Interest coupons to bear the facsimile signature of the City Treasurer as of the day of January 1962 Mayor rt r ply city t Treasurer r r SEAL Attest J J City Clerk and Recorder Form o oI Coupon Coupon No 20 2000 00 On the first day of January July 19 10 19 unless the bond to which this Ulis coupon Is attached has been called for prior redemption Uon lion tion Moab City County of Grand and State of Utah will wUl pay to bearer the amount heroin heron designated at the First Security Bank Dank Dankof of Utah NA Moab 1 Branch M Moab ab City Utah in lawful money of the United States of America being six months' months Interest on its General Obligation Water and Sewer Sever Bond Series January 1 1962 and bearing Bond nond No J r City ii Tr Treasurer S Insert in all aU coupons coupon maturing on and after July 1 I 1977 Form of oC Certificate AUDITORS AUDITOR'S CERTIFICATE I certify that this bond is within the lawful debt limit of Moab City in the County of o Grand and State of Utah and is Js issued according to law DATED this day of 1962 City Clerk and Recorder and Ex Officio City Auditor Section 7 That the Mayor City Treasurer and the City Clerk and Recorder of said City are hereby authorized and directed to prepare and execute said bonds as herein provided Upon such execution of oC said bonds they shall shaU be delivered to said City Tr Treasurer to be by him delivered to the purchaser of oC the bonds at att ata atta ata a price not less than the principal amount thereof and accrued interest to the date of o delivery Ie I.e. a price of not less than their lace tace value Section 8 That the funds realized from the sale of the bonds bond Authorized by this ordinance shall shaH be applied solely to g costs of the designated improvements and purpose ie i.e. to construct construct construct con con- improvements enlargements extensions and betterments to the present water and sewer sever system of Moab City All AU mone moneys received from the sale of said r-ald bonds as accrued interest at the time or times of their delivery and any premiums shall be deposited in the Bond Fund hereinafter created by Section 9 of this ordinance and applied on the payment of interest next due dueon dueon dueon on the bonds herein authorized The purchaser of said bonds however however however how how- ever shall in no manner be responsible for the application or disposal disposal disposal dis dis- by said City or by any of Its Us officers of any of the funds derived from the sale thereof Section 9 That the interest falling due on said bonds on the first day of July 1962 shall be paid out of the general fund of the City or from any other funds fund's available for Cor that purpose and for forthe forthe forthe the purpose of reimbursing said fund or funds and of providing the necessary funds to pay the Interest and principal thereafter accruing on said sald bonds as the same become due there shall be levied on all taxable property In n the City at the time and in the manner provided by law commencing In the year 1962 and annually thereafter while any of the bonds herein authorized are In ing and unpaid in addition to all other taxes direct annual taxes sufficient to provide the tha payment of such principal and interest and said taxes when collected colleted shall be deposited Into a special fund to be known as Moab City General Obligation atlon Water and Sewer Sever Bonds Series January I 1 1962 Interest and Bond Retirement Fund herein sometimes merely designated as the Bond Fund and such fund shall be applied solely for the purpose of the payment payment pay pay- ment of the Interest on and the principal of |