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Show ORDINANCE NO. 3 An Ordinance Providing for the Issuance and Sale of Twenty-five Twenty-five Thousand Dollars ($25,-000.00) ($25,-000.00) City of St. George, "Washington County, Vtali, Waterworks Wa-terworks lloiuls for the Pur-pose Pur-pose of Defraying the Expense of Increasing, Improving, Enlarging, En-larging, Extending, Perfecting and Adding to the Present Waterworks Wa-terworks System of Said City and Securing an Additional Water Supply, for the Purpose of Supplying and Distributing Water to the Inhabitants Thereof, Which Said Water System and Works Shall Be Owned and Controlled by Said Municipality. WHEREAS, at a special meeting meet-ing of said City Council of the City of St. George, Washington County, State of Utah, held on Monday, the 4th day of October, A. D., 1920, at the hour of 7:30 p. m., an ordinance was adopted adopt-ed by said City Council deciding that it is expedient and necessary nec-essary at that time and for the public good to issue the negotiable negoti-able coupon bonds of said City in the sum, of $72,000.00 for the purpose of raising funds to defray de-fray the expense of increasing, improving, enlarging, extending, perfecting and adding to the present waterworks system of said city and securing an additional addi-tional water supply, for the purpose pur-pose of supplying and distributing distribut-ing water to the inhabitants thereof, which said water system and works shall be owned and controlled by said municipality; and at said meeting an ordinan -e was duly passed by said Ciiy Council providing that a specia' election be held in said City of St. George, on Tuesday, the 9th day of November, A. D., 1920, for the purpose of submitting to such qualified electors of said City as shall have paid a property prop-erty tax therein in the year "next preceding such election, for their determination by ballot whether or not this City Council should issue bonds of said City in the sum of $72,000.00 for the purpose pur-pose of raising funds to defray the expense of increasing, improving, im-proving, enlarging, extending, perfecting and adding to the present waterworks system of said city and securing an additional addi-tional water supply, for the purpose pur-pose of supplying and distributing distribut-ing water to the inhabitants thereof, which said water system and works shall be owned and controlled by said municipality; and directing that notice be given giv-en of such special bond election in manner required by law, and, WHEREAS, notice of said election elec-tion was duly and regularly given in the manner required by law and in accordance with the terms specifically set forth in said ordinance and said election was duly and regularly held at each of the voting districts of said city on Tuesday, the 9th day of November, A. D. 1920, at which election all qualified electors elec-tors of said city who had paid a property tax in the year 1919 in said city were given an opportunity oppor-tunity and permission to vote and none but such duly qualified electors of said city who had paid a property tax in the year 1919 in said city, were permitted to vote and no votes were received re-ceived at any voting district in said city except from such duly qualified electors who had paid a property tax in the year 1919 in said city and the returns from said election from all districts dis-tricts in said city were duly and regularly canvassed by this said city council, said city council having met for that purpose on Monday, the 15th day of November, No-vember, A. D. 1920, at the hour of 12:00 o'clock noon as required re-quired by law, at which time' all the returns from such special bond election had been duly re- ceived and said canvass was duly made and completed and it was found and determined by this City Council that a majority of the qualified electors of said city as -aforesaid, voting at said election, elec-tion, voted in favor of the issuance is-suance of said water bonds in the sum of ?72,000.00, and said election was duly and regularly carried in favor of the issuance of said bonds, and, WHEREAS, at a special meeting' meet-ing' of said City Council, held on Thursday, the twenty-first twenty-first day of April, A. D. 1921, an ordinance was duly passed, adopted and approved by said City Council deciding that the city should issue bonds to the amount of $72,000.00 for the purpose of acquiring funds to be used in increasing, improving, enlarging, extending, perfecting and adding to the present waterworks wa-terworks system of said city and securing an additional water supply, sup-ply, for the purpose of supplying supply-ing and distributing water to the inhabitants thereof, which said water system and works shall be owned and controlled by said municipality, said water bonds being bonds numbered from 1 to 72, both inclusive, of the denomination de-nomination .of $1000.00 each, and, WHEREAS, Thirty-five Thousand Thou-sand Five Hundred Dollars ($35,500.00) of the bonds so authorized to be issued, issu-ed, have heretofore been issued, sold and delivered, leaving a balance bal-ance of $36,500.00 bonds still remaining unsold, and, WHEREAS, it is now deemed expedient and necessary at this time to issue and sell an additional addi-tional $25,000.00 of the bonds so authorized as aforesaid, and, WHEREAS, Lauren W. Gibbs Company, a corporation of the State of Utah, has offered to purchase said bonds as and when they may be legally issued and delivered, agreeing to pay therefor there-for par and accrued interest from date of bonds to date of delivery, de-livery, and, WHEREAS, the bid of said Lauren W. Gibbs Company is the highest, best and most advantageous advan-tageous bid received for the purchase pur-chase of said $25,000.00 bonds, and which bid has been duly accepted ac-cepted by said citv, NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF ST. GEORGE CITY, WASHINGTON COUNTY, STATE OF UTAH: Section 1. That for the purpose pur-pose of defraying the expense of increasing, improving, enlarging, enlarg-ing, extending, perfecting and adding to the present waterworks system of said city and securing an additional water supply, for the purpose of supplying and distributing dis-tributing water to the inhabitants thereof, which said water system and works shall be owned and controlled by said municipality, there shall be issued by City of St. George, $25,000.00 Water Bonds, which .bonds shall be dated December 1, A. D. 1931, in denomination of $1000 each, numbered from 1 to 2 5, both inclusive, in-clusive, bearing interest at the rate of 5i per cent per annum, payable semi-annually on June 15th and December 15th in each year, maturing as follows: $4,000.00 December 1, 1937. $4,000.00 December 1, 193S. $4,000.00 December 1, 1939. $4,000.00 December 1, 1940. $4,000.00 December 1, 1941. $5,000.00 December 1, 1942. Section 2. Said bonds and each of them, except as to number and maturity, shall be in substantially substantial-ly the following form, to-wit: UNITED STATES OF AMERICA State of Utah Washington County City of Saint George WATERWORKS BOND Series of December 1, 1031 No $1,000.00 KNOW ALL MEN BY THESE PRESENTS: That the City of Saint George, Washington County, State of Utah, hereby acknowledges itself it-self to be indebted and for value received hereby promises to pay to the bearer hereof the sum of ONE THOUSAND DOLLARS ($1,000.00) in Gold Coin of the United States of America, of the present standard of weight and fineness on the first day of December, De-cember, A. D. 19 at the office of Lauren W. Gibbs Company Com-pany in Salt Lake City, Utah, with interest thereon at the rate of five and one-half percentum (51:: per cent) per annum from date until paid, payable semiannually semi-annually in like money on the 1st day of June and the 1st day of December in each year, said interest to maturity being represented by interest coupons hereto attached. This bond is issued for the purpose pur-pose of acquiring funds to be used for the purpose of defraying defray-ing the expense of increasing, improving, enlarging, extending, perfecting and adding to the present waterworks system of said city, and securing an additional addi-tional water supply, for the purpose pur-pose of supplying and distributing distribut-ing water to the inhabitants thereof, which said water system sys-tem and works shall be owned and controlled by said municipality, munici-pality, in manner provided for in an ordinance passed by the City Council of said city, issued under and pursuant to the provisions provi-sions of the Constitution and Laws of the State of Utah, and as authorized by the electors of said city at a special election held for that purpose. The City Council of said city shall annually levy a tax sufficient suffi-cient to pay the interest on this bond as it falls due and also to constitute a sinking fund sufficient suffi-cient to pay the principal when due. It is hereby certified, recii and declared that all conditions, acts and things essential to the validity of this bond exist, have happened and have been done, and that every requirement of law affecting the issue thereof has been duly complied with and that this bond is within every debt and other limit prescribed by the constitution and laws of the State of Utah. The full faith, credit and all taxable property within the limits lim-its of said City of Saint George, as constituted at the time of the issuance hereof, are and shall continue to be pledged to the punctual payment of the principal prin-cipal and interest of this bond. IN WITNESS WHEREOF, the City of Saint George has caused this bond to be signed by its Mayor and City Treasurer and its corporate seal to be affixed hereto here-to .attested by its City Recorder and the annexed coupons to beai the facsimile signature of the City Treasurer, as of the firs) day of December, A. D. 19 31. HENRY T. ATKIN, Mayor. LAURA A. GATES, uuy Treasurer. Attest: G. E. MILES, City Recorder. (SEAL) To each of said bonds shall be attached a coupon for each installment of interest contemplated contem-plated by said bond, which said coupons shall be numbered consecutively con-secutively beginning with No. 1, with the several dates of payment pay-ment and number of bond and shall bear the facsimile signature signa-ture of the City Treasurer. Said coupons shall be in substantially the following form, to-wit: (Form of Coupon) No $27.50 June On December 1, A. D. 19 , the City of Saint George, Washington Wash-ington County, State of Utah, will pay to the bearer hereof at the office of Lauren W. Gibbs Company, in Salt Lake City. Utah, the sum of Twenty-seven and 50-100 Dollars ($27.50) ii Gold Coin of the United States of America of the present standard stan-dard of weight and fineness, being be-ing six months interest then due on its Waterworks Bond, dated "December li 1931. (Facsimile Signature) City Treasurer. Bond No There shall be endorsed on each of said bonds the following: follow-ing: "I hereby certify that this bond is within the lawful debt limit of the City of Saint George, Utah, and is issued according to law. G. E. MILES, City Recorder." Section 3. :i"ue rrrterest falling due on said bonds on the 1st day of June, A. D. 193 2 shall be paid out of the general fund of said city, and for the purpose of reimbursing said general fund for the payment of said interest, and to meet the interest falling due on said bonds on the first day of December, A. D. 19 3 2, and the 1st day of June, A. D. 19 33. there shall be levied in the year 19 32 on all taxable property within said city, in addition ad-dition to all other taxes, a direct annual tax sufficient to produce the sum of $2,062.50. Thereafter in order to raise the necessary funds with which to pay the interest promptly as the same becomes due and also for the purpose of paying the principal as it becomes due, there shall be levied on all taxable property in said city in addition to all other taxes, a direct annual tax, sufficient to produce sums as follows: fol-lows: li-i-'(----i-'l-1h- h rfk CO CO CO CO to CO M? 2 . - - - - - p ) M --1 3 -Ol-O r ci cn cn cn zn zn ci tn '" o O ; ooooo r- cn -y -ft cn -s zrt " T Vc 1 -0 " W - W - -1 -1 -1 J -1 -5 zn in -I in -jn cn - zn in Said taxes when collected shall be applied solely for the purpose of the payment of said interest and principal of said bonds respectively, re-spectively, and for no other pur- pose, until the indebtedness so contracted under this ordinance, principal and interest, shall have been fully paid, satisfied and discharged, but nothing herein contained shall be so construed as to prevent said city from applying ap-plying any other funds that may be in the city treasury and available avail-able for that purpose to the payment pay-ment of said interest and principal prin-cipal as the same respectively matures and the levy or levies herein provided for may thereupon there-upon to that extent be diminished. diminish-ed. And the sums herein provided pro-vided for to meet the interest on said bonds and to discharge the principal thereof when due, are hereby appropriated for that purpose and said amount for each year shall also be included in the annual appropriation bills passed by the City Council of said city in each year respectively. respect-ively. .AH proceeds, derived from the sale of said bonds must be applied exclusively to the purpose pur-pose for which said bonds are issued. Said bonds and each of them shall be signed by the Mayor and City Treasurer and attested attest-ed by the City Recorder and sealed with the corporate seal of said city, and the said coupons cou-pons shall bear the facsimile signature sig-nature of the City Treasurer. The Mayor and City Treasurer are each hereby empowered and directed di-rected to sign, the City Recorder to sign and attest and affix the seal of said city to each of said bonds and the acts of said Mayor, City Treasurer and City Recorder Re-corder in so doing are and shall be the act and deed of said city. All the covenants, statements, representations and agreements contained in said bonds and coupons cou-pons and all recitals and representations repre-sentations of this ordinance are hereby considered and understood under-stood and it is hereby ordained and declared that said covenants and promises therein are the covenants and promises of said city and that the representations representa-tions and statements therein are the representations and statements state-ments of said city. And it is further stated and represent "J that said city is a municipal corporation cor-poration and a city of the third class, under the constitution and laws of the State of Utah, and was organized in the year 1m',2. Section 4. AND IT IS FURTHER FUR-THER ORDAINED that all ordinances or-dinances and resolutions or parts of ordinances and resolutions, in conflict with the provisions- hereof here-of be and the same are hf"-',v repealed and after said ' c.nd.-are c.nd.-are issued, this ordinance shal! be and remain irrepealable until un-til said bonds and the interest thereon shall have been full pa d, satisfied and discharged as herein here-in provided. Section 5. The sale of said $25,000.00 Waterworks Bond-, consisting of twenty-five (25) bonds, numbered from 1 to 25, inclusive, in denomination of $1,000 each to Lauren W. Gibbs Company, and the action of the City Council in accepting its bid and all acts and proceedings pertaining thereto, are hereby considered and are hereby ratified rati-fied and confirmed, and the City Treasurer is hereby authorized instructed and directed to deliver de-liver said bonds, when properly executed, to Lauren W. Gibbs Company, upon receipt of the purchase price therefor, being par and accrued interest from date of bonds to date of delivery deliv-ery thereof, in accordance with the terms of purchase. Section 6. That it is necessary for the immediate preservation of the peace, health and safety of said city that the proceeds of these bonds be available immediately imme-diately for the purpose herein set forth. Section 7. The City Recorder is hereby instructed to cause this ordinance to be published in one issue of the Washington County News, a weekly newspaper newspa-per printed and published every Thursday and of general circulation circula-tion in said City of Saint George. NOW, THEREFORE, IT IS ORDAINED that an emergency is hereby declared and that this ordinance shall be in force and take effect upon the day of its passage, approval' and publication. publica-tion. PASSED by the City Council of Saint George, Utah, and approved ap-proved by the Mayor, this 21st day of November, A. D. 19 31. HENRY T. ATKIN, Mayor. Attest: G. E. MILES, City Recorder. (SEAL) The adoption of the foregoing ordinance was- seconded by Coirti-cilnian Coirti-cilnian Vernon Worthen, and upon up-on being put to a vote was carried car-ried by the affirmative vote of all councilmen present, the voto being as follows: Councilman Joseph W. Judd, "Aye". Councilman Vernon Vernon, "Aye". Councilman Jos. W. Prince, "Aye". Councilman John Stauffcr, "Aye". Councilman Arthur Coltani, "Aye". ADOPTED AND APPROVED this 21st day of November, A.D. 1931. HENRY T. ATKIN', Mayor. Attest: G. E. MILES, City Recorder. (SEAL) |