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Show Page Twelve The Springville Herald July 29, 1971 LEGAL NOTICE RESOLUTION A RESOLUTION providing for the issuance and confirming con-firming the sale of $50,000 City of Mapleton, Utah, General Obligation Water Bonds. WHEREAS, at a special bond election duly and lawfully called and held in Mapleton City, Utah County, Utah, on February 16, 1971, the following proposition was submitted to a vote of the qualified electors of said City: PROPOSITION Shall the City Council of Mapleton City, Utah be authorized to issue the General Obligation Water Bonds of said City in the amount of not to exceed Fifty Thousand Dollars ($50,000), bearing interest at a rate or rates not to exceed eight percent (8 percent) per annum, and due and payable in not to exceed twenty-five (25) years from the date of said bonds; these bonds to be issued and sold for the purpose of defraying all or a part of the cost of constructing improvements im-provements and extensions to the water system of the City? WHEREAS, the results of said election were declared by the City Council of said City sitting as a Board of Canvassers by resolution duly passed on the 18th day of November, 1970, from which it appears that the total number of votes cast at said election in favor of the issuance of said general obligation water bonds was 199 and that the total number of votes cast at said election against the issuance of said general obligation water bonds was 47. WHEREAS, the bonds authorized at said election have been this day offered for sale upon sealed bids, and when said bids were opened, it was found that the bid of Zions First National Bank was the highest and best responsible bid submitted for said water bonds; and WHEREAS, said bonds have been awarded to said purchaser at the price of par and accrued interest to the date of delivery plus a premium, if any, of $250.00. NOW, THEREFORE, Be it and It is Hereby Resolved by the City Council of Mapleton City, Utah County, Utah: SECTION I. That for the purpose of paying all or part of the cost of constructing con-structing improvements and extensions to the water system of said City, there shall be issued $50,000 General Obligation Water Bonds of Mapleton City, Utah, pursuant to the Utah Municipal Bond Act. Said bonds shall be dated July 1, 1971, of the denomination of $1,000 each, numbered 1 to 50 inclusive, and shall bear interest from date until paid at the rate of rates hereinafter set out, which interest shall be payable beginning July 1, 1972 and semi-annually thereafter on the first days of January and July of each year. Said bonds shall be numbered and shall mature serially in numerical order on July 1 of each of the years and shall bear interest in-terest as follows: BondNos. Maturity Amount Coupon Percent 1 1973 $1,000 5.50 2 1974 1,000 5.50 3 1975 1,000 5.50 4 1976 1,000 5.50 5- 6 1977 2,000 5.50 7- 8 1978 2,000 5.50 9-10 1979 2,000 5.50 11-12 1980 2,000 5.50 13-14 1981 2,000 5.50 15-16 1982 2,000 5.50 17-19 1983 3,000 . 5.50 20-22 1984 3,000 6.00 23-25 1985 3,000 6.00 26-28 ' 1986 . 3,000 6.00 ' 29-32 1987 4,000 6.00 33-36 1988 4,000 6.00 37-40 1989 , 4,000 6.00 41-45 1990 - - 5,000 6.50 46-50 1991 , . 5,000 i - . 6.50 Bonds numbered 1 through 28 maturing on or prior to July 1, 1986 are not callable for redemption. Bonds numbered 29 through 50 maturing on July lr 1987 and thereafter, are callable for redemption redemp-tion in inverse numerical order, at the option of the City, on July 1, 1986, or on any annual maturity and interest payment date thereafter at a price equal to the principal amount of the bonds so redeemed and accrued interest to the date of redemption plus a premium of 4 percent of the par value of the bonds redeemed. Notice of the call of any of the bonds for redemption shall be given by publication of an appropriate notice one time in a newspaper of general circulation in Salt Lake City, Utah, at least thirty (30) days prior to the date of repurchase, together with notification of the firm of Burrows, Smith and Company, Salt Lake City, Utah, and the orginal purchaser(s) of the bonds. Interest on any bonds subject sub-ject to redemption shall cease to accrue on the date fixed for redemption if notice has been properly given and funds equal to the redemption price have been deposited with the Son's First National Bank in Spanish Fork, Utah. SECTION II. That said bonds and the interest coupons thereto attached shall be in substantially the following form : (Form of Bond) UNITED STATES OF AMERICA STATE OF UTAH CITY OF MAPLETON GENERAL OBLIGATION WATER BONDS DATED JULY 1,1971 Number $ Mapleton City, Utah County, Utah, for value received, hereby acknowledges itself to be indebted and promises to pay to the bearer hereof the sum of ($ ) on the first day of July, 19 , together with interest thereon from the date hereof until paid at the rate of -percent (- percent) per annum, payable July 1, 1972, and semi-annually thereafter on the first day of January and July of each year with interest falling due on and prior to maturity, payable only upon presentation and surrender of the attached interest coupons as they severally become due. Both principal and interest on this bond are payable in lawful money of the United States at the Zion's First National Bank in Spanish Fork, Utah. This is one of an issue of 50 bonds of like date, denomination, tenor and effect except as to maturity and interest rate, issued for the purpose of paying all or part of the cost of constructing improvements im-provements and extensions to the water system of Mapleton City, under and by virtue of in full conformity with the Constitution and laws of the State of Utah and a resolution duly adopted by the City Council of Mapleton City on July 20, 1971, after having been duly authorized at an election legally held in said City February 16, 1971. This bond and the issue of which it is a part are issued pursuant to authority contained in the Utah Municipal Bond Act. Bonds numbered 1 through 28 maturing on or prior to July 1 1986 are not callable for redemption. Bonds numbered 29 through 50 maturing on July 1, 1987, and thereafter, are callable for redemption redemp-tion in inverse numerical order, at the option of the City, on July 1, 1986 or on any annual maturity and interest payment date thereafter at a price equal to the principal amount of the bonds so redeemed and accrued interest to the date of redemption plus a premium of 4 percent of the par value of the bonds redeemed.' Notice of the call of any of the bonds for redemption shall be given by publication of an appropriate notice one time in a newspaper of general circulation in Salt Lake City, Utah, at least thirty (30) days prior to the date of repurchase, together with notification of the firm of Burrows, Smith and Company, Salt Lake City, Utah, and the original purchaser(s) of the bonds. Interest on any bonds , subject to redemption shall cease to accrue on the date fixed for redemption if notice has been properly given and funds equal to the redemption price have been deposited with the Zion's First National Bank in Spnish Fork, Utah. The City Council of Mapleton City agrees that it will annually levy a tax sufficient to pay the interest on this bond as it falls due and also to constitute a sinking fund sufficient to pay the principal when due. This bond is subject to the conditions, and every holder hereof and every holder of the coupons hereto attached by accepting the same, agrees with Mapleton City and every subsequent holder of this bond of or such coupons, that (a) delivery of this bond to any transferee shall vest title to this bono! and to the interest coupons attached hereto at the time of such delivery in such transferee and the delivery of any interest coupons hereto to any transferee shall vest title to such coupons in such transferee to the same extent for all purposes as would any such delivery under like circumstances of any negotiable instrument payable to bearer; (b) Mapleton City and any agent of Mapleton City may treat the bearer of this bond and of any of such coupons as the absolute owner thereof for all purposes and shall not be affected by any notice to the contrary; (c) the princiapl of and interest on this bond shall be paid and this bond and each of the coupons attached hereto are transferable free from and without regard to any equities, setoffs, or crossclaims between Mapleton City and original or any subsequent holder thereof and free from any claims of ownership by any such holder; and (d ) the surrender to Mapleton City or to any agent of Mapleton City of this bond and of each of the coupons attached hereto shall be a good discharge to Mapleton City for the same. It is hereby certified, recited, and declared that all conditions, acts, and things essential to the validity of this bond and the issue of which it forms a part do exist, have happened, and have been duly complied with and that this bond is within every debt and other limit prescribed by the Constitution and the laws of the Sate of Utah and that the full faith and credit of Mapleton City are hereby irrevocably pledged to the punctual payment of the principal and interest on this bond according to its terms. IN WITNESS WHEREOF, Mapleton City has caused this bond to be signed by the Mayor and countersigned by its City Recorder with the seal of the City affixed and the coupons hereto attached to be signed with the facsimile signature of the City Treasurer, all as of the day of -, 1971. Countersigned: Mayor City Recorder No.- (Form of Coupon) . On the first day of unless the hereinafter mentioned bond is then callable for redemption and has been so called and provision for such redemption duly made, Mapleton City , Utah , will pay to the bearer hereof at the Zion 's First National Bank in Spanish Fork, Utah, the amount shown hereon in lawful money of the United States of America, being the interest due on its General Obligation Water Bonds, dated July 1, 1971, numbered (Signed) City Treasurer SECTION III. That each of said bonds shall be signed by the Mayor and countersigned by the City Recorder with the seal of the City affixed, af-fixed, and said coupons shall bear the facsimile signature of the City Treasurer. The Mayor is hereby empowered and directed to sign, and the City Recorder to countersign and affix the seal of the City to each of said bonds, and the City Treasurer is authorized to execute said coupons by causing his facsimile signature to be placed on each of said coupons, and the acts of said Mayor, City Recorder, and City Treasurer in so doing shall be the act and deed of Mapleton City, Utah. All of the convenants, statements, representations, and agreements contained in said bonds and said coupons, and all of the recitals and representations of this resolution are hereby considered and understood, and it is hereby ordered and declared that said convenants and promises of Mapleton City and that the representations and statement therein are the representations of the City. SECTION IV. That to pay interest falling due on said bonds as the same becomes due and also to provide a sinking fund for the payment of the principal of said bonds at maturity, there shall be and is hereby levied on all taxable property in said City, in addition to all other taxes, a direct annual tax sufficient to pay the interest on said bonds and to pay and retire the same as hereinbefore provided. Said taxes when collected shall be applied solely for the purpose of. the payment of interest on and principal of said bonds, respectively, respec-tively, and for no other purpose whatsoever, until the indebtedness so contracted under this resolution, 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 other funds that may be in the City treasury and available for that purpose to the payment of said interest and principal as the same respectively mature, and the levy or levies herein provided for may thereupon to that extent be diminshed. The sums herein provided for to meet the interest on said bonds and to discharge the principal thereof when due is hereby appropriated for that purpose. Principal and interest falling due at any time when there are on hand from the proceeds of the above tax levy insufficient funds, shall be advanced from other funds of the City available for such purpose and such other funds may be reimbursed when the tax levy proceeds become available. SECTION V. That the sale of said water bonds to Zions First National Bank, at a price of par and accrued interest to the date of delivery plus a premium, if any, of $250.00, in accordance with the terms of the sealed bid submitted by said purchaser on this date, at the advertised ad-vertised public sale of said bonds is hereby in all respects ratified and confirmed. Said bonds shall be delivered to the purchasers as soon as they may be legally issued, upon receipt by the City Treasurer of the agreed purchase price therefor. SECTION VI. All ordinances, resolutions, or parts thereof in conflict herewith be and the same are to the extent of such conflict hereby repealed and after said bonds are issued this resolution shall be and remain irrepealable until said bonds and the interest thereon shall have been fully paid, satisfied and discharged as herein provided. SECTION VII. This resolution shall be published one time in the "Springville Herald", a newspaper of general circulation in Mapleton City, Utah. For a period of thirty days after such publication any person in interest shall have the right to contest the legality of this resolution or any action taken pursuant thereto or the bonds authoirzed hereby or any provision made for the security and payment of said bonds, but.after such time, no one shall have any cause of action to contest the regularity, formality, or legality thereof for any cause whatsoever. SECTION VIII. That it being necessary for the immediate preservation of the peace, health and safety of Mapleton City and the inhabitants thereof that the proceeds of the bonds herein authorized be available immediately for the purpose herein set forth, and this resolution shall be in full force and effect immediately upon its adoption. PASSED by the City Council of Mapleton City, Utah, this 20th day of July, 1971. Keith P. Roylance Mayor Pro-tem ATTEST: Harold V. Gividen City Recorder (SEAL) Published in the Springville Herald July 29, 1971. J ami 200 TABLETS 1 200 TABLETS SQUIBB ASPIRIN 5-Grain Fast Pain Relief. ft 79c Value fl J I 30 Extra Tablets HiVmll LupTUUIsJ H 1 ooeeooo eoeoooo if f MINNIN 1 BaBY MaGIO lotion MENNEN BABY MAGIC LOTION Keeps the skin soft and smooth! 9 fl. oz. $1.29 Size KODACHROME II I ?f As 135 - 20 Exp. Film ' t?p ' 2. 10 Value .; 30)6 I M LJ x S '"ill I Wviv I c iiff Mpt?: $249 LmBB 4j I Mi ONE-A-DAY MULTIPLE VITAMINS Plus iron, with a free month's supply. $3.39 Value WILSON BASEBALL SHOES Lockstitch construction with orilite outsole. High grade black split leather uooers steel cleats. $11.30 VALUE Reg. $7.95 $195 (Limited quantity) r DISPOSABLE PAMPERS wm.i I : . INSTEAD OF A DIAPER DAYTIME 30's $1.79 Value 49 4 PROCTOR SLIEX ELECTRIC ICE CREAM FREEZER 4-quart Model 88105 88 fl O V' H3 $23.98 $ Value 15 r I ?4liilui ALPHA LAWN AND GARDEN BAGS Plastic bags Tough, weather proof 10 Bags 3 bushel capacity! 98c Value 5!r i i I I T2:n 111 - IN KOREA, AN AMERICAN VIOOP TRAIN WAS PEIAYEP A VITAL HOUR WHILE THE ENGINEER AND FIREMAN FOUGHT -OVER THE PRIVILESE OF BLOWING THE WHISTLE what a preamer he predicts that i some pav these things j v will do ioo miles AN HOUR y INPIANAPOLIS ONCE-HAD ONCE-HAD THE WORLD'S LARGEST WTERURBAN TERMINAL SOO CARS A PAY, 7000,000. PASSENGERS A YEAR,' When the wrights sold the u.s. its first war plane, for . iO.OOO. THEC RfCEIVEP A S.OOO BONUS FOR EXCEEPING THE SPECIFIEP SPEED OF jf -TV rtr 1 1 v i 1 MILES ' , NO.' ISAlPt'ToN 9HAMMKA... NOT I ) IH I WAS WALKIN mi CLOROX Bleach whitens, cleans, removes re-moves stains, disinfects. One Gallon RAID YARD GUARD Outdoor foqger kills flying insects up to 20 feet away. Repells flies, mosquitoes, gnats, ants, etc. 16 oz. $1.98 Value fr3 VX A ii ii it: i nnr : J5S) SOFT ' N ' PRETTY DECORATED BATHROOM TISSUE by Scott. 650 sheets, e'ach roll m I -j-jc Value faO r aik 33 (HMOS MKltBe &u fms H IT PI L Cast, iron nickle,pfatf to desired $6.95: Value :SV V AS Tidy-all, cok Large size $2.98 Value AM, all-traii phone. AMERICAN K L E im 125 2-ply facial 1 5 28c & Value |