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Show I iffiv PUBLIC NOTICES I I IS I a I" BECAUSE THE PEOPLE MUST KNOW said date being within three years following the date of issue of said bonds; (3) work on the said facilities is expected to proceed with due diligence to completion; (4) said facilities have not been and are not expected to be sold or otherwise disposed of in whole or in part prior to the last maturity of said bonds; (5) all of the principal proceeds of the bonds are needed for the purpose stated In the form of bond prescribed including in-cluding expenses incidental to such purpose and to the issuance of the bonds; and (6) to the best of the knowledge and belief of the Board there are no facts, estimates or circumstances that would materially ma-terially change the conclusions and representations set out in this section. Said Board of County Commissioners also certifies and further covenants with the purchasers and holders of said bonds from time to time outstanding that so long as any of said bonds remain re-main outstanding, moneys on deposit in any fund or account in connection with said bonds, whether or not such moneys were derived from the proceeds of the sale of said bonds or from any other sources, will not be used In a manner which will cause such bonds to be "arbitrage bonds" within the meaning of Section 103 (d) of the Internal Revenue Code of 1954, as amended, and any lawful regulations promulgated or proposed thereunder, Including Sections 1.103-13 and 1.103-14 of the Income Tax Regulations Re-gulations (26 CFR Part 1), as the same presently exist, or may from time to time hereafter be amended, supplemented or revised. re-vised. The Board reserves the right, however, to make any Investment In-vestment of such moneys permitted by state law if, when and to the extent that said Section 103 (d) or regulations promulgated thereunder shall be repealed or relaxed or shall be held void by final decision of a court of competent jurisdiction, but only if any investment made by virtue of such repeal, relaxation or decision would not, in the opinion of counsel of recognized competence compe-tence in such matters, result in making the interest on said bonds subject to federal income taxation. Section 9. That this resolution shall be published one time in the Beaver Press & the Beaver County News, newspapers published pub-lished and of general circulation in Beaver County, and for a period of thirty (30) days after such publication any person in interest shall have the right to contest the legality of this resolution reso-lution or of the bonds hereby authorized or any provisions made for the security and payment of such bonds. After such time no one shall have any cause of action to contest the regularity, formality or legality of this resolution or the bonds herein authorized for any cause whatever. Section 10. That all proceedings, resolutions and actions of this Board of County Commissioners and its officers, agents and employees taken in connection with, the sale and issuance of the aforesaid $400,000 General Obligation Courthouse Bonds are hereby ratified, confirmed and approved, including the publication pub-lication of the notice of sale for said bonds as set out in the preamble hereof. Section 11. That all resolutions and orders or parts thereof in conflict herewith are to the extent of such conflict hereby repealed. The foregoing resolution was adopted by the following vote: Aye: Fred B. Harris, Chairman Thurman F. Eyre, Commissioner George Richard Jefferson, Commissioner Nay: None. Adopted and approved February 7, 1974. Fred B. Harris Attest: Chairman Nicholas R. Dotson County Clerk STATE OF UTAH ) COUNTY OF BEAVER ) I, Nicholas R. Dotson, do hereby certify that I am the duly qualified and acting County Clerk of Beaver County, Utah, and as such the duly qualified and acting Clerk of the Board of County Commissioners of said county. I further certify according to the records of said county in my, official possession that the above and foregoing is a true and correct copy of an excerpt from the minutes of a meeting of said board held on February 7, 1974, and of a resolution adopted at that meeting as said minutes and resolution are of record in my possession. I further certify, that the above and foregoing resolution, together with the names of those voting for and against, have been recorded at length in the Resolution Book of Beaver County and in that book in which the tax levies are ordinarily recorded and that the aforementioned minutes, together with the vote of the several members of the Board on the aforementioned resolution, have been recorded in the Minute Book of said county. IN WITNESS WHEREOF, I have hereunto subscribed my official signature and impressed hereon the official seal of Beaver County, Utah, this 7th day of February, 1974. Nicholas R. Dotson County,Clerk (SEAL) Published in the Beaver County News, February 14, 1974. ' l GENERAL OBLIGATION COURTHOUSE BOND Numbe r KNOW ALL MEN BY THESE PRESENTS that Beaver County, Utah, hereby acknowledges itself to be indebted and for value received hereby promises to pay to the bearer hereof the sum of Five Thousand Dollars ($5,000) on the first day of March, 19 , with interest thereon at the rate of percent ( ) per annum from date until paid, payable March 1, 1975, and semiannually therafter on the first days of March and September Sep-tember of each year, interest falling due on and prior to maturity ma-turity being payable upon presentation and surrender of the attached interest coupons as they severally become due. Both principal of and interest on this bond are payable in lawful money of the United States of America at the Milford State Bank, Beaver City Branch In the City of Beaver, Utah. This bond Is one of an issue of $400,000 bonds, numbered 1 to 80, inclusive, all of like date, tenor and effect, except as to maturity, right of redemption (and interest rate), issued by Beaver County under and pursuant to the provisions of the Constitution Con-stitution and laws of the State of Utah, including particularly the Utah Municipal Bond Act, Chapter 14 of Title 11, Utah Code Annotated, 1953, as amended, for the purpose of defraying the cost of erecting and furnishing a courthouse, Including the acquisition ac-quisition of all land necessary therefor, in and for Beaver County, and is issued pursuant to a resolution adopted by the Board of Commissioners of said county on February 7, 1974, after having been duly authorized at an election held on July 10, 1973, by the qualified voters of said county. Bonds numbered 49 to 80, inclusive, of the issue of which this is one are. callable for redemption In inverse numerical order at the option of the county on March 1, 1984, and on any interest payment date thereafter at par and accrued interest to the date fixed for redemption, plus a premium of three per cent (3) of the principal amount of each bond so redeemed prior to maturity. At least thirty (30) days notice of the call for redemption redemp-tion shall be given by publication one time in a financial newspaper news-paper or journal published in the City of New York, and by registered mail sent to the paying agent bank and to Burrows, Smith and Company, Suite 1003, Kearns Building, Salt Lake City, Utah. The Board of County Commissioners of Beaver County hereby covenants and is by law required to levy annually on all taxable property In said county a sufficient tax to pay the interest on this bond as it falls due and also to constitute a sinking fund for the payment of the principal hereof when due. It Is hereby certified, recited and declared that all acts, conditions con-ditions and things essential to the validity of this bond have happened and have been done in regular and due time, form and manner and that every requirement of law affecting the issue hereof has been duly complied with that this bond is within every debt and other limit prescribed by the Constitution and laws of the State of Utah and that the full faith, credit and resources of Beaver County, are hereby irrevocably pledged to the punctual punc-tual payment of principal of and Interest on this bond according to its terms. IN WITNESS WHEREOF, Beaver County, Utah, acting through its Board of County Commissioners, has caused this bond to be signed by the Chairman and attested by the Clerk of said county (the signature of said Chairman being by facsimile), and has caused the facsimile of the corporate seal of said county to be imprinted hereon and the annexed interest coupons to be signed with the facsimile signatures of said Chairman and Clerk, which officials, by the execution hereof, do adopt as and for their own proper signatures their facsimile signatures appearing on each of said coupons, all as of the first day of March, 1974. (Facsimile Signature) Chairman Attest: , County, Clerk (FACSIMILE SEAL) I j RESOLUTION A RESOLUTION confirming the sale and authorizing the Issuance of $400,000 General Obligation Courthouse Bonds of Beaver County, Utah, fixing the interest rates to be borne thereby, providing for the levy of taxes to pay principal of and Interest on said bonds, providing for the use of the proceeds thereof, making certain findings and covenants in connection therewith, providing for publication and ratifying ratify-ing actions heretofore taken. Whereas an election was duly called and held in Beaver County, Utah, on July 10,1973, and at said election the following follow-ing proposition was carried by a vote of 239 of the qualified .1 ; voters of Beaver County voting for said proposition and 173 '4 of such voters voting against such proposition: : . Shall negotiable coupon general obligation bonds of Beaver j : County, Utah, in -the sum of $400,000 bearing interest at '!.- a rate not to exceed six and one-half percent (6-12) j : per annum and due and payable in not to exceed twenty ' (20) years from the date of said bonds, be Issued and i. sold for the purpose of defraying the cost of erecting and furnishing a courthouse, including the acquisition of all -L land necessary therefor, in and for said county? WHEREAS none of the bonds so voted at said election has heretofore been Issued and delivered, and it has been I determined to authorize the issuance of said bonds at this time; and WHEREAS a notice inviting sealed bids for the purchase of said $400,000 bonds has been advertised by publication of a Notice of Bond Sale in The Salt Lake Tribune, a newspaper published in Salt Lake City, Utah, on January 27,1974, and brought to the attention of potential purchasers and the bids i received pursuant to such notice have been tabulated, and It has been found that the bid of Continental Bank and Trust Company of Salt Lake City, Utah, and associates, is the highest high-est and best bid received for the purchase of said bonds, resulting re-sulting in the sale of such bonds at the lowest obtainable interest in-terest rate, said bid reading in full as follows: February 7, 1974 Beaver County Utah Beaver, Utah Re: $400,000 Beaver County Utah General Obligation Courthouse, Series 3-1-74 Gentlemen: For all of the above named, legally issued bonds, as described in your Notice of Sale, which is made a part hereof, we hereby bid you par and accrued interest plus a premium of $ none. Said bonds shall bear interest and mature as follows: 1975 through 1978 4.75 270 equal 12,825 1979 through 1983 4.50 675 equal 30,375 1984 through 1988 5.00 1500 equal 75,000 1989 through 1990 5.25 930 equal 48,825 3375 167,025 This bid Is made subject to the full unqualified approving legal opinion of Messrs. Chapman and Cutler it being agreed that you will pay all expenses incurred in obtaining said legal opinion. The printed bonds are to be furnished by you and at your expense. This bid is for prompt acceptance. As evidence of our good faith in submitting this bid, we are enclosing herewith our check for $8,000.00 to be retained by you in the event this bid is accepted; but otherwise, to be returned to us Immediately. Gross Interest Cost ( $167,025.00 ( ) Premium 0 Net Interest Cost $167,025.00 Effective Rate 4.948892 Respectfully submitted, ; The Continental Bank and Trust Co. ' - .v Salt Lake City, Utah -i5 , (Hanlfe,, Imhoff, etc., Denver, Colo.) By Marion J. Hammond Vice President The above offer is hereby accepted for and on behalf of the Beaver County this 7th day of February, 1974 by the undersigned under-signed duly authorized officials. Fred B. Harris Nicholas R. Dotson NOW, THEREFORE, Be It Resolved by the Board of County Commissioners of the County of Beaver, Utah, as follows: Section 1. That the bid of Continental Bank and Trust Company of Salt Lake City, Utah, and associates, for the pru-chase pru-chase of $400,000 General Obligation Courthouse Bonds ,of Beaver County, pursuant to the bid which is set out In full In the preamble hereto, be and the same is hereby accepted, it being hereby found, determined and declared after public advertisement for bids for the purchase of said bonds, that said bonds bear interest at the lowest obtainable interest rate, and that under authority of Chapter 14 of Title 11, Utah Code Annotated, 1953, otherwise known as the Utah Municipal Bond Act, such bonds shall be issued by said county for the purpose of defraying the cost of erecting and furnishing a courthouse, including the acquisition of all land necessary therefore, in and for Beaver County. Section 2. That said bonds shall be designated "General Obligation Courthouse Bonds", shall be in the total principal amount of $400,000, shall be dated March 1,1974, shall be in the denomination of $5,000, numbered 1 to 80, inclusive, shall bear Interest from date until paid, payable March 1,1975, and semiannually thereafter on the first days of March and Sept-. Sept-. ember of each year. The bonds shall be payable as to both principal and interest In lawful money of the United States of America at the Milford State Bank, Beaver City Branch "-' In the City of Beaver, Utah, and shall mature serially in numerical numer-ical order on March 1 of each of the years and shall be numbered and bear interest as follows: BOND NUMBERS AMOUNT INTEREST RATE YEAR lto 7 $35,000 4.75 1975 8 to 14 35,000 4.75 1976 15 to 21 35,000 4.75 1977 22 to 24 15,000 4.75 1978 25 to 27 15,000 4.50 1979 28 to 31 20,000 4.50 1980 32 to 35 20,000 4.50 1981 ; 36 to 39 20,000 4.50 1982 40 to 43 20,000 4.50 - 1983 44 to 48 25,000 5.00 1984 49 to 53 25,000. 5.00 1985 54 to 58 25,000 5.00 1986 I 59 to 63 25,000 5.00 1987 i 64 to 68 25,000 5.00 1988 69 to 74 30,000 5.25 1989 j 75 to 80 30,000 5.25 1990 Bonds numbered 49 to 80, Inclusive, shall be callable for redemption In inverse numerical order at the option of the I county on March 1, 1984, and on any interest payment date j thereafter at par and accrued interest to the date fixed for j redemption, plus a premium of three per cent (3) of the principal prin-cipal amount of each bond so redeemed prior to maturity. At least thirty (30) days notice of the call for redemption shall be given by publication one time in a financial newspaper or Journal published in the City of New York, and by registered mall directed to the bank at which the bonds are payable and to Burrows, Smith and Company, Suite 1003, Kearns Building, Salt Lake City, Utah. Section 3. That said bonds shall be signed by the Chair -man of the Board of County Commissioners, attested by the County Clerk (the signature of said Chairman being by faclmile), and shall have the facsimile of the official seal of Beaver County Imprinted thereon. Interest falling due on said bonds on and prior to maturity shall be evidenced by appropriate coupons to be thereto attached, which coupons shall be signed by said officials by their facsimile signatures, and said officials, by the execution of said bonds, shall adopt as and for their own proper signatures their respective facsimile signatures appearing on said coupons. Section 4. That the bonds and the coupons to be thereto attached shall be in substantially the following form: ( Form of Bond) UNITED STATES OF AMERICA STATE OF UTAH BEAVER COUNTY (Form of Coupon) Number . $ On the first day of , 19, unless the hereinafter mentioned bond is then subject to the right of redemption and said county has duly provided for the exercise of such right, Beaver County, Utah, will pay to the bearer hereof at the Milford State Bank, Beaver City Branch in the City of Beaver, Utah, the amount shown hereon in lawful money of the United States of America, being the Interest then due on its General Obligation Courthouse Bond dated March 1, 1974, and numbered , (Facsimile Signature) Chairman Attest: (Facsimile Signature) County Clerk Section 5. That the Chairman and County Clerk are each hereby empowered and directed to sign, and the County Clerk to cause the facsimile of the seal of the county to be imprinted on each of said bonds, and the acts of said Chairman and County Clerk in so doing are and shall be the act and deed of said Beaver County, Utah. The use of the facsimile signature of the Chairman on the face of the bonds is hereby authorized. Section 6. That there shall be and is hereby levied in each year while any of said bonds is outstanding and unpaid, in addition addi-tion to all other taxes authorized by the Constitution and laws of the State of Utah, an unlimited tax on all taxable property in Beaver County fully sufficient to pay the interest on said bonds as the same shall become due and to pay the principal of said bonds falling due in each year. Beginning with the year 1974, the appropriate officials of Beaver County, Utah, shall, without further Instructions or direction from the Board of County Commissioners, extend and collect the aforesaid tax, which shall be devoted and applied solely to the payment of interest on and to the creation of a sinking fund for the payment of the currently maturing principal of the bonds herein authorized as they fall due in each and every, year until all of said bonds are retired. Principal or interest falling due at any time when the proceeds of said tax levy may not be available shall be paid from other funds of the county and such funds shall be reimbursed reim-bursed from the proceeds of said taxes whenever said taxes shall have become available. Section 7. That the sale of said $400,000 General Obligation Courthouse Bonds to Continental Bank and Trust Company of Salt Lake City, Utah, and associates, at the price of par and accrued interest to the date of delivery, plus a premium of $0.00, is hereby confirmed. Said bonds shall be printed and executed as soon as may conveniently be after the adoption of this resolution and thereupon shall be delivered to said purchasers pur-chasers upon receipt by the Treasurer of Beaver County of the purchase price for said bonds. Section 8. That the principal proceeds of the sale of said bonds shall be devoted to and used with due diligence for the completion of the facilities for which said bonds are authorized to be issued, as set out in the preamble hereof. The Board of County Commissioners Com-missioners represents and certifies that: (1) the said county will have incurred within six months after delivery of said bonds substantial binding obligations with respect to said facilities; said binding obligations comprising com-prising land purchase and architectural contract with Edwards & Daniels & Associates, Architects, 525 East 3rd South, Salt Lake City, Utah, in the amount of not less than 2-12 of the estimated total cost of said facilities; (2) the Board expects that over 85 of the spendable proceeds pro-ceeds of said bonds win, be expended on or before March 1, 1977, for the purpose of paying the cost of said facilities, |