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Show LEHI FREE PRESS, LEHI, UTAH ORDINANCE AN ORDINANCE RATIFYING, APPROVING AND CONFIRMING ALL ACTION, PROCEEDINGS, MATTERS, AND THINGS CONCERNING CURB, GUTTER IMPROVEAND SIDEWALK MENT DISTRICT NO. 3 IN LEHI, UTAH; PROVIDING FOR THE ISSUANCE OF SPECIAL IMPROVEMENT BONDS; PRESCRIBING DETAILS IN CONAND NECTION THEREWITH; DECLARING AN EMERGENCY. WHEREAS, the City Council of Lehi, in the County of Utah and State of Utah, has heretofore taken the requisite proceedings for making curb, gutter and sidewalk improvements in which is commonly designated "Curb, Gutter and Sidewalk Improvement District No. 3", more particularly described by Ordinance passed and approved on the 31st day of August, 1953; and by Ordinance No. 1955A passed and approved the 14th day of March, 1955, said City Council has validly levied a special tax and assessments, in the amount of $14,513.52, upon the blocks, lots, or parts thereof, and pieces of ground, specially benefited by said improvements, and fronting or abutting upon or adjacent to said street, to defray the cost of constructing and making said improvements, all in accordance with the statutes of the State of Utah providing therefor; and WHERAS, said special tax was made payable in ten equal annual installments on or before the first day of April in each of the years 1956 to 1965, both inclusive, bearing interest at a rate of four per cerium per annum, as provided in said ordinance, or, in the alternative, at the option of the owner or owners of the property so assessed, one or more of such installments in th order payable, or the whole tax, was made payable without interest on or before the 20th day of May, 1955; and WHEREAS, the City Treasurer of said City of Lehi has given the requisite notice of the levy of said special tax; and WHEREAS, there remains unpaid of said special tax and assessments by the property owners of said blocks, lots, or parts thereof, the sum of $7,491.83; and WHEREAS, said City of Lehi has determined, and hereby determines, to issue its special improvement bonds in the sum of $7,400.00. BE IT NOW, THEREFORE, CITY BY THE ORDAINED COUNCIL OF THE CITY OF LEHI, UTAH COUNTY, STATE OF UTAH: Section 1. That all action, proceedings, matters and things heretofore taken, had and done by the City of Lehi and the officers of said City concerning the acquisit Bond Denominations Bonds Numbers Lll Inclusive) 1 2-- $ 3 4 5-- 6 7 8-- 9 10 11 12-1- 3 14 15 16-1- 7 18 19 20-2- 1 22 23 24-2- 5 26 27 28-2- 9 30 31 32-3- 3 34 35 36-3- 7 38 ion of curb, gutter and sidewalk improvements in what is commonly designated "Curb, Gutter and Sidewalk Improvement District No. 3" within and for said City, the creation of said District, the levy and collection of a special tax and assessments to meet the cost and expense of such improvements, and the issuance of special improvement bonds therefore, be, and the same hereby is, ratified, approved and confirmed, including, without limiting the generality of the foregoing, and the sale of said bonds to The State Bank of Lehi, Lehi, Utah. Section 2. That the City of Lehi and the Treasurer thereof be, and hereby are, authorized, empowered and directed to receive, collect and enforce the payment of all of said special tax and assessments made to defray the cost of acquiring said improvements, and all installments thereof, all interest thereon, and all penalties accrued, in the same manner and at the same time or times in the manner prescribed by Ordinance No. 1955A of said City, duly passed and approved on the 14th day of March, 1955, and all other ordinances or laws thereunto appertaining; and to pay and disburse said special tax and assessments, the installments thereof, the interest thereon, and penalties thereto, to any person or persons lawfully entitled thereto. Section 3. That for the purpose of defraying in part the cost and expense of making and otherwise said improvements, acquiring there be issued in the name of the City of Lehi bonds designated "Lehi City, Utah, Special Improvement Bonds, Curb, Gutter and Sidewalk Improvement District No. 3, Series April 1, 1955," in the aggregate principal amount of $7,400.00, consisting of 38 bonds numbered consecutively from 1 to which bonds 38, both inclusive, shall bear date as of the first day of April, 1955, and shall bear interest at the rate of four per centum (4 per cent) per annum to maturity, payable annually on the first day of April in each year, as evidenced by interest coupons attached to said bonds. If, upon presentation at maturity, payment of any bond is not made as herein provided, interest thereon shall continue at the rate of eight per centum (8 per cent) per annum until the principal thereof is paid Said bonds and the in full. coupons thereto attached shall be payable in lawful money of the United States of America at the State Bank of Lehi at Lehi, Utah. Said bonds shall be numbered, shall be in the denominations, and shall mature serially, without in option of prior redemption, regular numerical order on the first day of April in the years indicated, as follows: Said bonds shall be fully negotiable and shall have all the qualities of negotiable paper, subject to the payment provisions stated herein, and the holder or holders thereof shall possess all rights enjoyed by holders of negotiable instruments under the provisions of the Negotiable Instruments Law. Said bonds shall be signed by the Mayor, countersigned by the City Treasurer, and attested by the City Recorder and City Auditor of said City of Lehi, and its corporate seal shall be affixed to each bond. The coupons attached to said bonds shall bear the facsimile signature of the City Recorder and City Auditor, which officer by the execution of said bonds shall adopt as and for his signature the facsimile thereof appearing on said coupons, and when said bonds are executed, sjaid coupons shall constitute the binding obligations of said City for said interest. Said bonds and coupons bearing the signatures of the officers in office at the time of the signing thereof shall be the valid and binding obligations of said City, notwithstanding that before the delivery thereof and payment therefor any or all of the persons whose signatures appear thereon shall have ceased to fill their respective offices. Section 4. That said bonds and the interest thereon are payable solely out of, and as security for such payment there is hereby pledged, a special fund designated the "City of Lehi Curb, Gutter and Sidewalk Improvement District No. 3 Bond Fund" (herein sometimes designated the bond fund), containing the receipts derived by said City after the 20th day of May, 1955, from the special tax and - assessment levied upon the property included in said Curb, Gutter and Sidewalk Improvement District No. 3 of said City, provided, however, said payment is additionally secured by a special improvement guaranty fund heretofore created by ordinance and being Sections 444 to 445, both inclusive, of the Revised Ordinances of the City of Lehi, adopted December 29, 1947, and published by authority of the City Council. Said City shall not be held liable for the payment of any of said bonds, except to the "extent of the funds created and received from ' said special tax levies and assessments and to the extent of its special improvement guaranty fund; but said City shall be held responsible for the lawful levy of all special taxes or assessments, for the creation and maintenance of the special improvement guaranty fund as provided by law, and for faithful acsettlement collection, counting, and payments of the taxes levied for local improvements and for the moneys of said funds. Section 5. That said bonds, the thereto attached, and the coupons Amounts certificate to appear thereon, shall Maturing be in substantially the following $700.00 Years Maturing 1956 1956 1957 1957 1958 1958 1958 1959 1959 1959 500.00 100.00 500.00 100.00 500.00 100.00 50.00 500.00 100.00 50.00 500.00 100.00 50.00 500.00 100.00 50.00 500.00 100.00 50.00 500.00 100.00 50.00 500.00 100.00 50.00 500.00 100.00 50.00 700.00 750.00 750.00 750.00 I960 1960 1960 1961 1961 1961 1962 1962 1962 1963 1963 1963 1964 1964 1964 1965 1965 1965 750.00 der, by virtue of, and in full conformity with, the Constitution and laws of the State of Utah and certain ordinances and resolutions of said City duly passed and made law thereof prior to the issuance hereof. It is hereby certified that as authorized by ordinance, being Sections 444 to 450, both inclusive. Revised Ordinances, City of Lehi. adopted December 29, 1947, and published by authority of the City Council, a special improvement guaranty fund has been created and said City agrees that at all times during the life of this bond and until payment thereon in full, said fund shall be at all times maintained as therein required. This bond is payable exclusively out of said bond fund and said guarantee special improvement fund. Said City shall not be held liable for the payment of this bond, except to the extent of the funds so created and received from said special tax levies and assessments and to the extent of its improvement guaranty special fund; but said City shall be held responsible for the lawful levy of all special taxes or assessments, for the creation and maintenance of the special improvement guaranty fund as provided by law, and for faithful accounting, collection, settlement and payments of the special tax and assessments levied for local improvements and for the moneys of said funds. Said special tax and assessment made and levied to defray said cost, with accruing interest thereon, constitutes a lien upon and against the property upon which such tax and assessment was made and levied from and after the 24th day of March, 1955, the date upon which the ordinance levying such tax and assessment became effective, which lien is prior and snper-io- r to all liens, claims, titles, mortgages and encumbrances, except the liens of general taxes. It is hereby further certified, recited and declared that all acts, conditions and things essential to the validity of the bond exist, have happened and have been done in due time, form and manner as required by law, and that the total issue of special improvement bonds of said City for said District, including this bond, does not exceed the amount authorized by law nor the special tax and assessment levied to cover the cost of said improvements in said District, and that all of said special tax and assessment has been lawfully levied. This bond is subject to the condition, and every holder hereof by accepting the same agrees with the obligor and every subsequent holder hereof, that (a) the delivery of this bond to any transferee shall vest title in this bond and in the interest coupons attached hereto in such transferee to the same extent for all purposes as would the delivery under like form: circumstances of any negotiable (Bond Form) instrument payable to bearer; (b) UNITED STATES OF AMERICA the obligor and any agent of the STATE OF UTAH COUNTY OF UTAH obligor may treat the bearer of CITY OF LEHI SPECIAL IMPROVEMENT BOND CURB, GUTTER AND SIDEWALK IMPROVEMENT DISTRICT NO. 3 SERIES APRIL 1, 1955 io io this bond as the absolute owner hereof for all purposes, and shall not be affected by any notice to the contrary'; (c) the principal of and the interest on this bond shall bo paid, and this bond and each of the coupons appertaining thereto are transferable, free from and without regard to any equities between the obligor and the original or any intermediate holder hereof, or any or and (d) the surrender to the obligor or any agent of the obligor of this bond and each of the coupons shall be a good discharge to the obligor for the same. IN WITNESS WHEREOF, the City of Lehi, Utah, has caused this bond to be signed by its Mayor, countersigned by its City Treasurer, attested by its City Recorder and City Auditor, and its corporate seal to be affixed thereto, and the annexed coupons to bear the facsimile signatures of said City Recorder, and Auditor, and this bond to be dated as of the first day of April, A.D. 1955. of said bonds shall be deposited in the City's Curb, Gutter and Sidewalk Improvement District No. 3 Construction Fund, heretofore created and applied solely for the purpose of. paying the costs and expenses of making said improvements, provided that all moneys, if any, remaining in said construction fund after the payment of all proper costs and expenses of said improvements, shall then be paid into said bond fund, herein created. The pur chaser of said bonds shall in no manner be responsible for the ap plication by said City, or any of its officers, of any of the funds derived from the issuance thereof. Section 7. That all assessments collected by the Treasurer of said City after the said 20th day of and the 1955, May, shall be account thereof, kept in the said bond fund separate and apart from all other funds and moneys of said City, and said fund shall be kept in the custody of the City Treasurer in the man ner provided by the laws of the State of Utah and the ordinances of said City. Mayor (SEAL) Section 8. That the officers of Attest: said City be, and they hereby are, authorized and directed to take all City Recorder and action necessary or appropriate to City Auditor effectuate the provisions of this or dinance, including, without limit(Coupon Form) $ No ing the generality of the foregoing, On the first day of April, A.D. the printing of said bonds and the 19 the City of Lehi, County execution of such certificates as , of Utah, State of Utah, will pay may reasonably be required by the the bearer hereof: purchasers thereof, relating inter Dollars alia, to the signing of the bonds, in lawful money of the United the tenure and identity of the munStates of America, out of a spec- icipal officials, the amounts cerial fund designated the "City of tified on the assessment roll toLehi Curb. Gutter and Sidewalk gether with the amount of payImprovement District No. 3 Bond ments received, the accuracy of Fund," at the office of the City property descriptions, the receipt Treasurer of said City, being one of the purchase price, the delivery year's interest on its City of Lehi of the bonds, and the absence SDecial Improvement Bond, Curb, of litigation pending or threatened Gutter and Sidewalk Improvement affecting the validity of the bonds, district No. 3, Series April l, lyao if such is in accordance with the and bearing facts. NO Section 9. That 'any holder of T. F. Kirkham one or more of said bonds, or any City Recorder and any of the coupons representing City interest thereon, may, either at Auditor law or in equity, by suit, action, mandamus or other appropriate (Form of Certificate) AUDITOR'S CERTIFICATE proceedings in any court of comI hereby certify that this bond petent jurisdiction, enforce and does not constitute an indebedness compel the performance of any of the City of Lehi, County of Ut- duty imposed upon the said City ah, and State of Utah, within any by the provisions of this ordinance, State constitutional or statutory including, without limiting the limitation, and is issued according generality of the foregoing, the to law. segregation of the special tax and Dated this assessments and the proper ap day of 1955. plication thereof. The failure of the bond holders so to proceed City Recorder and shall not relieve said City or any Auditor of its officials of any liability for Section 6. That said bonds when failure to perform any such duty executed shall be issued to State Section 10. That any part of Bank of Lehi, the lawful pur- the Revised Ordinances of the City chaser thereof, for the principal of Lehi and of any other ordinamount thereof and accrued in- ances or resolutions, or parts terest to the date of delivery; and thereof which may be in conflict said City hereby pledges to the with the provisions of this orholder or holders of said bonds, the dinance are, to the extent of such exercise of all lawful corporate conflict, hereby repealed. This repowers in the collection of said pealer shall not be construed to special tax and assessment levied revive any ordinance, nor resolfor the collection of 'Such bond. ution, or part thereof, heretofore The funds realized from the is repealed. set-of- 750.00 750.00 750.00 The City of Lehi, in the County of Utah and State of Utah, for value received hereby promises, out of a special fund available for the purpose, as hereinafter set forth, to pay to bearer hereof the principal sum of FIVE HUNDRED DOLLARS ONE HUNDRED DOLLARS FIFTY DOLLARS on the first day of April, A. D., 19 of prior , without option redemption, with interest thereon at the rate of four per centum per annum, until maturity, payable annually on the first day of April in each year, both principal and interest being payable in lawful money of the United at the States of America, State Bank of Lehi. Lehi, Utah, upon presentation and surrender of this bond and of the annexed coupons as they severally become due. If, upon presentation at maturity, payment of this bond is not paid as herein provided, interest hereon shall continue at the rate of eight per centum per annum until the principal hereof is paid in full. This bond is one of a series of thirty-eigspecial improvement bonds numbered consecutively both infrom one to thirty-eigh- t, clusive, issued by the City of Lehi, all of which are of like date and designation- and aggregate the total amount of Seven Thousand Four Hundred Dollars ($7,400.00). Payment of this bond and the interest thereon shall be made from and as security. for such payment there is pledged, a special fund designated the "City of Lehi Curb, Gutter and Sidewalk Improvement District No. 3 Bond Fund," containing the receipts derived by said City after May 20, 1955, from the special taxes and assessments levied upon the property included in said District in said City for the purpose of paying in part the cost of the acquisition of curb, gutter and sidewalk improvements, in said. District, un ht Barbara Latimtr, Janet Sprout, Nathan lb.. A Fill out which to choose. AUTUMN QUARTER STARTS SEPT. 6 BUSINESS COLLEGE Branch of Brigbam Young University SALT LAKE CITY and mall for Information. y . larsen. Our graduate! frequently have several excellent positions from Nam.. Address-Cit- K. Heart Florence P. Evam, instructor. These thrM students recently won Gregg awardt for palling the official tist. Their goal now li 173 words a minute. (Miss Latimer typed 127 words without error I) minutes a minute far five 70 NORTH MAIN .State- - s; io io io unauthorized or unconstitutional. Section 13. That it is necessary for the immediate preservation of the peace, health and safety of said City and in the inhabitants thereof that this ordinance be- come effective immediately; and emergency is hereby declared and this ordinance shall be in effect on the date of its passage, approval and publication. Section 14. That this ordinance shall be published once in the Lehi Free Press, a newspaper of general circulation published within said City. PASSED by the City Council of the City of Lehi, County of Utah, and APPROVED by the Mayor, this 8th day of August, A.D. 1955. Frank E. Sharp Mayor io (SEAL) Attest: T. F. Kirkham City Recorder fisTHMfttyEFRIN 'esssr-S- eirw-es- ee- - ma Ex-offic- io Bitffifr Lehi Drug Task-Forc- LIGHT- - WORK-STYLE- D AND MEDIUM-DUT- WORK-STYLE- D Y have their own fresh design. MODELS HIGH-LEVE- REVOLUTIONARY NEW VENTILATION L outside air. (Low Cab Forward) is lower than former C.O.E. models yet it offers C.O.E. maneuverability. MOST D I--. HIS V8's-w- ith Five new sion pro- vides a more constant supply of L.C.F. -1 sixes valve-in-hea- d the most advanced sixes in the industry! New, roomy Flite-RiDe Luxe cab the truck driver's "dream cab!" New Full View rear window that sweeps clear around rear cab corners (optional at extra cost). de HEAVY-DUT- Y NEW CONCEALED SAFETY STEP stays clear of snow, ice and mud for greater safety. NEW SYSTEM delivers double the punch for quicker starting and finer performance. 12-VO- IT MODERN the shortest stroke of any leading truck V8! V8 is standard in L.C.F. models, an extra-co- st option in all others except Forward Control models. NEW CAMEO CARRIER is the flagship of the Chevrolet truck fleet! It's the first truly beautiful truck ever built! ' TIMPMOGOS MOTOR COMPANY Mala Wed Oeater MODELS look as husky and efficient as they are. PANORAMIC WINDSHIELD sweeps around the corners to give you a wider, safer view of the road ahead. (8) Better Jobs cross-claim- Section 11. That after the issuance of bonds to defray the costs of said improvements, this ordinance shall be and remain until said bonds and the interest thereon shall be fully paid, certified and discharged, as herein provided. Section 12. That should the courts of this or any other State or of the United States declare any section, provision, paragraph, clause, sentence, phrase, or part thereof, of this ordinance invalid, unauthorized or unconstitution al, or in conflict with any section, paragraph, provision, clause, sentence, phrase, or part thereof, of this ordinance then such decision shall affect on ly the section, provision, para graph, clause, sentence, phrase, or part thereof, declared to be invalid, unauthorized or unconstitutional, and shall not affect any other part of this ordinance what soever. The City Council of the said city hereby declares that it would have passed this ordinance on behalf of said City and each section, provision, paragraph clause, sentence, phrase, or part thereof, hereof, irrespective of the fact that any one or more of the sec tions, provisions, paragraphs. clauses, sentences, phrases, or parts thereof, be declared invalid, No Dollars Spent in Lehi Return to You (4) Higher Skills mean suance e Here's why we say New Chevrolet Trucks are the most Modern trucks for any job today! $500.00 $100.00 $ 50.00 750.00 THURUSDAV, AUGUST 11, 1955 FkDM M |