Show AN ORDINANCE providing for the execution and delivery to the lawful purchasers thereof of water bonds of tooele thoele city of tooele thoele county utah to raise funds for the purpose of supplying said city with water the works tor for supplying the same to be owned and controlled by i said city prescribing the form of said bonds and providing tor for the levy of a direct annual and valorem valoree tax upon all of the tax taxable I 1 ble property in said city in addition to all other taxes sufficient to pay the interest accruing upon said bonds promptly when and as the ame becomes due and also to constitute a sinking fund sufficient to pay the principal thereof at the time of their maturity repealing all ordinances or parts of ordinances in conflict herewith and declaring an emergency WHEREAS A special bond election was lawfully called and duly held hel A at the he respective polling places in each of the several election precincts in and for said city on saturday to wit watt the day of february A D 1915 between the hours of 7 A M and 7 P M tor for the purpose of voting upon the question following shall the city council afy of for and on behalf of tooele thoele city of tooele thoele county utah incur a bonded indebtedness in the aggregate principal sum of sixty four thousand dollars to supply said city with water the works for a up plying the same to be owned and controlled by the city said bonds to be payable parable serially june 1917 and june in each year thereafter AND WHEREAS after due canvass canvas of the returns of said election made by b y the city council it was found declared and certified that the total number of ballots cast at said election upon the question submitted thereat was of which ballots were for the issue of water bonds yes and 9 ballots were for the issue of water bonds no and that a majority ol of of all of the ballots cast at said election was for the issue of water bonds yes and WHEREAS said bonds have heretofore by the said city council pur to law been duly awarded and sold upon the best terms at which said bonds can be sold and at a price exceeding the par value of said bonds together with all accrued interest thereon to date of delivery to sweet i causey foster company of denver colorado who were the highest and best bidders and WHEREAS it is the duty of said council to issue said bonds as and in the manner provided by law for the purpose aforesaid now therefore in consideration of the premises BE IT ORDAINED BY THE CITY COUNCIL OF TOOELE CITY OF county utah as follows section 1 that it be and hereby i is certified recited and warranted that hat all conditions acts and things necessary and essential to the validity of the bonds hereinbefore and hereinafter mentioned and required require a by law to be done have been fully done and performed section 2 that to raise funds for the he purpose of supplying said city with water the works for supplying the same to be owned and controlled by said city as mentioned inthe in the preamble hereof there shall be and there are hereby authorized ordered and directed to be issued and delivered to the purchasers thereof aforesaid the negotiable water bonds of said city to an amount aggregating the principal sum of which shall be known and designated water bonds shall be 64 in number numbered consecutively from I 1 to 64 both numbers inclusive of the denomination of 1000 each shall war biar date of march 1 A D 19 1915 15 shall become absolutely due and payable in numerical order as follows on june A D 1917 and on each june thereafter until all shall have been paid that said bonds shall bear interest from their date until paid at the rate of six 6 per c per annum payable semiannually on the first days of june and december respectively in each year which installments of interest to date of maturity of principal shall be evidenced by appropriate doupona attached to each bond and both the interest accruing on and the principal of said bonds shall be payable in lawful money of the united states of america at the banking house of kountze Brot brothers herg in the city and state of new york U S A section 3 that each of said bonda and each of the interest coupons to be thereto attached shall be in substantially the following forms respectively to wit form of bond UNITED STATED OF AMERICA STATE OF UTAH COUNTY OF I 1 TOOELE CITY OF TOOELE no 10 1000 water bond KNOW ALL MEN ny BY PRESENTS that toselo city of tome county utah itself to owe and for value received hereby promises to pay to tile the bearer hereof tile principal nuna of ono tholand dollars ON JUNE FIRST AD A D IF 19 together with interest intermix unsaid s sum f from m tile tho date hun of until paid at tho the rate orsia of six per per annum payable semiannually semi annually on oil tile the arat days of june and december in ili each year ns as evidenced by atil and upon tile presentation and surrender of tho the jn i tere t c coupons its hereto attached atta clied as aa they so severally v era il become conic due and both the said sad principal nud and interest aro arc hereby made payable in fit lawful money 0 of f tile alio un united states of america at tile banking house of kountze brothers lit in tile the city and state of now new york 11 B S A this bond Is issued by gild said city to raise funds funda for the purpose of supplying said city with water the works for supplying tile same to be ba owned and con controlled rolled by sald bild city pur bitant to a vo vote to of tile the duly qualified taxpaying electors electora of said bald city present and voting upon tile the question at ft a special election lawfully law tully I 1 I 1 y c called a 1 1 0 d a and t i d d duly u 1 y I 1 licud i c 1 idy t therein I 1 aae r e ill on oil t the fi I 1 0 7 t 1 i d day a y 0 of f F february eb r t u A U 19 1 15 for the purpose urpo seo prior to tile the hsu ance of tills bond at which election a majority of ali all of tile the led electors electora present and voting thereat voted in favor of tile the issuance of this bond and under by virtue of and lit in all respects lit in nil full and strict compliance with tile constitution chapter cli apter 24 title 13 1 compiled laws of utah of 9 7 all laws amendatory thereof and supplementary 5 thereto arid and nn an ordin a neo anco of said bald city duly adopted prior to tho the issuance of this bond and it is hereby certified recited and warranted that said city liaa has been fur for many years past lind and Is now a body politic and ana corporate and a municipal corporation duly organized existing and operating as a city under and by virtue of the constitution and ge general iceal laws of tile state anti and is now and all al ways has been under the alie control of a duly organized olty council as t the lie duly constituted corporate authority thereof that eliat all things lings ti acts acta and conditions condl tlona required by the constitution and laws of the state of utah to exist anti and to happen and bo be done arid and performed precedent to and lit in tile issuance of tills this bond lit in order to constitute tile the same the valid arid and binding obligation of said city do exist anti and have happen od ed and been done aud and performed lit in regular and duo due form and time that tile tho total indebtedness of said city including tills this bond does not exceed any constitutional or statutory limitation and that duo due provision has been matle made for the levy assessment and collection of a direct anneal aam ial ad valorem valoree tax on oil all of the taxable property of said city lit in addition to all other taxes to create a fund lent to pay tile interest accruing upon this bond promptly when and as tile same becomes duo due and to establish a sinking fund with which to discharge the principal hereof nt at maturity tito alio faith credit and all of tile the taxable property of said city are hereby Iry irrevocably ovoca 1 tr pledged ledged for tile punctual pay nimit of tho liU crost anil of tile tho principal of tills bond gospee as tile samo same become bacomo duo due arid aro are payable abac as aa aforesaid IN aa TESTIMONY WHEREOF tofele tooele cit city utah 11 by its city council has bus caused caused this bon bond id to to be signed by tile mayor and city recorder and countersigned counter signed sigried by tho the city treasurer under its corporate seal and the tha attached interest coupons to bo be signed with wit the engraved facsimile signature of said city treasurer the 11 first r A day of march A n D 1916 1915 1 mayor seal city recorder countersigned Counter signed city treasurer form of 0 coupon no on june A D 19 december tooele thoele city of thoele tooele county utah for value received will pay to the bearer hereof the sum of dollars in lawful money of the united states of america at the banking house of kountze brothers in the city and state of new york U S A being months interest then due on its water bond dated march 1 AD 19 1915 15 no city treasurer form of certificate to be eudor endorsed sed on back of each bond state of utah county of tooele thoele I 1 ss city of tooele thoele J I 1 certify that the within bond is issued in accordance with law and is is within the debt limit permitted by the constitution and laws of utah and in accordance with i vote of the taxpayers ol of tooele thoele city of I 1 boele county utah at an election held on the day of february A D 1915 authorizing bonds to the amount of sixty four thousand dollars seal city recorder section 4 that each of the bonds hereby authorized shall be signed by the mayor and cuy city rec recorder cader and countersigned counter signed by the city treasurer under Us As corporate seal which seal sh shall allbe be impressed thereon that each 1 i of th the frit interest eres t coupons to be attached to each of said bonds shill shall be executed by the tn engraved graved fic facsimile simile signature of said city insurer tia tr surer and the officers in in this paragraph mentioned are hereby authorized ordered and directed to cause said bonds and cour coupons lons to he be prepared substantially in the forms respectively hereinabove set forth and to execute the same for and on an behall of said city as and in the mer manner aforesaid sadi and gar afar their execution and be loie fore said bonds are arc delivered to the purchasers thereof they shall be registered by the city recorder in a public record book kept for that purpose in his office which shall shuw show thai said bonds were issued by said city the amount of each bond its number date of issuance time and place of payment rate of interest number of interest c coupons attached name and postoffice post office address of the purchaser pu pui chaser and a arper I 1 description thereof for future identification and said recorder shall endorse eldorse a certificate on the reverse side of said bonds as berei hereinabove dabove and before set out section 5 that the interest falline due on said bonds on june 1 A D 1915 shall be and the same is hereby appropriated and paid by the city treasurer treasur cr from the general fund of said city or out of any moneys in h his is hands belonging to said city and tor for the purpose ot of providing the necessary funds to reimburse said fund for the amount so borrowed from it and also to pay the interest accruing on said bonds subsequent to june 1 A D 1915 promptly n when and as the same falls due and to constitute and maintain a sinking fund sufficient to discharge the principal thereof at maturity there shall be and by this ordinance there is hereby levied upon all the taxable property in said city in addition to all other taxed the following direct annual ad valorem valoree tax to wit in the year 1915 a tax sufficient to P produce produce the net sum of for interest in the year 1916 A a tax sax sufficient clent to produce the net sum of beine for interest and for principal in the year 1917 a tax sufficient to produce the net sum of being tor for interest and lor for principal in the year 1918 a tax sufficient to produce the net sum of being for interest and for P principal rin cipal in the year 1919 a tax sufficient to produce the net met sum of being baini for interest and for principal in the year 1920 a tax lax sufficient to produce the net sum of being 2700 for interest and for principal in the year 1931 1921 a tax sufficient to produce the net sura sum of being 2400 for interest and for principal in the year 1922 a ta tax sufficient to produce the net sum of being 2100 for interest and for principal in the year 1923 a tax sufficient to produce the net sum of being 1800 for interest and for principal in the year 1924 a tax sufficient to produce the net sum of being 1500 for interest and for azin principal apal in the year 1925 a tax sufficient to produce the net sum ol of being 1200 for interest and for principal in the year 1926 a tax sufficient to produce the net sum of being for interest and for principal in the year 1927 a sufficient to produce the net sum of being 6 for interest and for principal I 1 in the year 1928 a tax sufficient to produce the net sum of being for interest and for principal and said tax when collected shall oy dy the city treasurer be kept in a separate fund to be designated water bond dated march 1 A D 1913 1915 interest and sinking fund which shall be irrevocably pledged to and used solely tor for the payment of the interest accruing on and the principal of the said bonds hereby authorized when due so long as any of said bonds or the interest coupons thereto remain outstanding and unpaid and for greater certainty the ol of said years 1915 to 1928 both inclusive clu sive include the bond tax hereinabove levied for such year in the annual estimate for city purposes for said year and annually pr prior borto to july said bond tax shall in each of said years be certified to the county treasurer of said county extended upon the taic ax rolls and collected by the same officers in the same manner and at the time as the taxes for general city county and school district purposes for said county for such year are certified extended and collected provided however that the provisions 0 this ordinance shill shall not be construed to prevent the city council from utilizing any funds in the hands of the city applicable to the purpose with which to pay the said interest or principal as the case may be and in in the event that said funis funds way may be so used and appropriate provision made for the payment ol of said principal or interest as the case may be then the tax levies levie required ired under the provisions of chii ordinance may bo be reduced proportion T atela in accordance with the amount available for use in paying the said interest or principal as the case roay may be section 6 that on the of may and november respectively in each year so long as any of the interest coupons appertaining to the bonds hereby authorized to be issued remain out outstanding g and unpaid the city treasurer shall and he is hereby ordered authorized and directed to remit out of any moneys in his hands belonging to said city in the forin ov of check or draft payable in new york city U S A to the banking ban kinghouse house of kountze brothers in the city and state of new york a sum sufficient to pay the semi annibal annabal interest accruing on said bonds on the first days of june and december respectively in each year and all escrow charges made by s said aid bank for handling said COU coupons coudons Dons and on the day of may A D 1929 the said city treasurer shall and he is hereby authorized ordered and directed out of the s aking fund created under the provisions of this ordinance to remit by check or draft payable in new york to the said banking house of kountze brothers in new york a sum sufficient to pay the orin cipa amount of said bonds as may then be outstanding together with a all interest accrued thereon to june A D 1929 and any and all |