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Show ORDINANCE NO. 103 AN ORDINANCE CREATING A MUNICIPAL POWER PLANT ACQUISITION AND CONSTRUCTION CONSTRUC-TION FUND AND PROVIDING FOR THE EXPENDITURE OF $300,000.00 OF ELECTRIC LIGHT AND POWER REVENUE BONDS AUTHORIZED UNDER ORDINANCE ORDI-NANCE NO. 100 OF THE ORDINANCES ORDI-NANCES OF ST. GEORGE CITY. WHEREAS, the City of St. George City by virtue of Ordinance No. 100 has authorized the City Council Coun-cil to issue $300,000.00 electric light and power revenue bonds and to proceed with the construction construc-tion and acquisition of a municipally municip-ally owned power plant; and WHEREAS, in pursuance to said Ordinance No. 100, said City of St. George City has issued $260,-000.00 $260,-000.00 of said bonds and received the money therefor; and WHEREAS, in pursuance to said Ordinance No. 100, the City of St. George City called for bids in the acquisition and construction construc-tion of a municipally owned power plant and in pusuance to said call for bids, bids have been received and contracts are ready to be awarded for the construction of said municipally owned power plant; NOW, THEREFORE, BE IT AND IT IS HEREBY ORDAINED by the City Council of the City of St. George City, Washington County, State of Utah, as follows: Section 1. There is hereby created, cre-ated, set up and established a fund to be known as the "ST. GEORGE CITY MUNICIPAL POWER PLANT ACQUISITION AND CONSTRUCTION FUND." Section 2. All moneys received from the sale of bonds under Ordinance Or-dinance No. 100 up to the sum of $300,000.00 are hereby appropriated appro-priated for expenditure under this Ordinance as hereinafter provided, and the City Recorder and the City Treasurer of St. George City are hereby instructed and authorized author-ized to deposit all moneys from the sale of electric light and revenue rev-enue bonds, authorized under Ordinance Or-dinance No. 100, into this fund. Section 3. All moneys deposited in the fund herein designated as the "ST. GEORGE CITY MUNICIPAL MU-NICIPAL POWER PLANT ACQUISITION AC-QUISITION AND CONSTRUCTION CONSTRUC-TION FUND" are to be expended as follows: (a) On approved contracts awarded by the City Council for the construction and acquisition ac-quisition of a municipally owned power plant and distribution system; (b) On engineering, legal, preliminary and miscellaneous expenses incurred by the City in taking necessary steps to be able to acquire, construct, maintain, and operate a municipally mu-nicipally owned power plant and distribution system; (c) To pay into the special fund known as "ST. GEORGE CITY ELECTRIC REVENUE BOND SINKING FUND" sufficient suf-ficient money to guarantee the payment of the interest falling due for the first year on the $300,000.00 bonds authorized under Ordinance No. 100; Section 4. All claims paid out of this fund on contracts let for acquisition or acquiring of all or any part of said municipally owned power plant and distribution system sys-tem must be certified to by the Engineer in charge, presented, passed and approved by the City Council of St. George City. Section 5. All other claims to be paid from said fund shall be paid upon approval by the City Council of St. George City, Utah. Section 6. That immediately after the adoption of this Ordinance Ordi-nance it shall be signed by the Mayor and City Recorder, shall be recorded in a book kept for that purpose, and shall be published publish-ed in the Washington County News, a newspaper published and having a general circulation in the City of St. George City, and shall take immediate affect, the preservation of the peace, health and safety of the City of St. George City so requiring. DATED, passed and approved this 17th day of June, A.D., 1941. D. C. WATSON, Mayor. ATTEST: H. R. BENTLEY, City Recorder. GIVEN under my hand and the official seal of said City this 17th day of June, 1941. ' H. R. Bentley City Recorder, St. George City, Utah. (SEAL) |