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Yfisco - vsw uti, .rhinal 1 ' d, to be execute! rftT in wh!-- h ev'-n- t - January J2," '1961,-- 4 'Page 8 deys arooint a successor On-- 1 P t eral 'Manager, and the Clerk j L tlg.ia.ures W ruch resignation shall Bund Form by the ligation bonds shall be underimmediately upon the ap- shall ao notify tha General Man The bonds and the coupons to raid Chairman' and Clerk, all stood to refer to the bonds of from tha . schools, churches and the of Febru- pointment of ruoi successor ager previously serving that hia of an the district heretofore and here- be thereto attached, together as of this ' first day unclassified units above will 1901. is terminated and Revenue Bond and Interest Retrustee. for registraappointment the with j. are which provision issued payable ary, after have rates set pioportional , be removed hia appointment shall there- demption Fund then outstandTrustee on The the may will which tion ad "appear valorem of from the proceeds to the service rendered as . Chairman, time by the holders of a upon - bis terminated. The suc- ing. It shall be the duty of the subin be at any shall back thereof, taxes. recommended by the . con- -. to the payto transmit Trustee so in cessor Attest: apGeneral form: aggregate principal the Manager majority following bonds and the stantially 9. The words fifthan not bank less revthe suiting engineers and fixed rfmount be of first shall ing agent approved unoutstanding pointed OF be shall UNITED STATES the revenue bonds" fallthe board. the of in advance bonds by Clerk teen and bonds hereafter enue the days by consultingbonds engineers. AMERICA derstood to refer to the interest,-; For every connection hereor of due on of a therewith issued Coupon) principal (Form ing . by 10 parjty Section , STATE OF UTAH in the amount of $405,000 paymoney after made with the sysfrom the .Revenue1 Number . . . an instrument dr concurrent in$. COUNTY OF DAVIS Disposition of Revenues able from the operating reventem (other than connection! of in On the first filed struments 1, day writing by From and after the issuance Bond and Interest Redemption ues of the system, which bonds CENTRAL DAVIS COUNTY made in incorporated munithe 19 .. , , unless the hereinafter such holders witn the Trustee of ; of the revenue bonds, Fund or, if necessary, from sufSEWER DISTRICT any are herein authorized. mentioned bond has theretofore and with the District Clerk. cipalities which have con--1 the revenues shall be set aside Reserve Fund, in an amount .. io. The words Sinking Fund SEWER REVENUE BOND tracts with toe district purIn case the Trustee or any into and are hereby pledged for ficient to pay the principal and $1,099 been called for redemption and Year shall be understood to Number suant to which the district for the so falling due. All of the interest 'redemption provision month BY trustee MEN successor shall the pethe of twelve ALL KNOW to the following refer resign, purposes is to treat, and. dispose of DaFund Reserve Central thereof the in made, 1 duly money of Cenbe othshall removed The Trustee or that bs dissolved, funds. THESE special PRESENTS riod beginning February - at of the direction Sewer District municipal will the sewage for such vis shall, , on County inDisto become allocate revenues Sewer erwise and the or all of ending tral Davis County the calendar year disqualified tlie-shall Trussum the . the of be invested to bearer municipalities) Board, by expay in 3L and order the the a successor various funds capable of acting, the next succeeding January trict; a duly organized initial an be pay-- ) Dollars of the in tee direct charged obligations ,) ($ hereinin be which the funds are appointed by the Section 2 isting improvement district in in the manner and out of the trustee may ment in the nature of a conUnited States of America maholders a principaAll for value for of listed. in after Davis Facilities Utah, charges majority County, of Acquisition nection fee, of $156. of the outstand- services rendered by the sys- turing in not, more than ten continue received hereby promises to pay revenues described in said bond, l-amount The district shall If any initial payment Barnes Banking Company; ing revenue bonds and bonds tem shall be payable by the years from the date of purchase, at be bond or regto this if a of bearer, sewage with the acquisition due under, the preceding the in- hereafter issued on a in which event all income debeing Utah, Kaysville, ManGeneral user holder to thereof the to the istered outfall registered and parity system collection terest then due on its Sewer therewith by an instrument paragraphs of this section, or ager or to the collector to whom rived from such ; investments and a sewage treatment and dis- hereof, solely from the reven- Revenue Bond dated is not paid promptly when-Revenue into the be shall' paid have General concurrent instruments the writin ues hereinafter may to specified, upon Manager February plans posal plant pursuant numbered and Bond Interest and 1, 1901, Redemption charthe of with collection dy, there - shall ofba teuFaded sura the this the Trustee filed surrender of and bond, delegated ing and specifications therefor pretnereto a panal.y Trusted per The Fund. is hereby Thousand be the unand Dollars District shall One with the ges, paid by Clerk, but pared by Neff Engineering and of . cent (10). . . Chairman. til a successor trustee shall Manager qr collector to the authorized, to the extent at any , Construction Company, which ($1,000) on February 1..19 Service charges 'shall be Attest: have beei so appointed by the Trustee as "Vapidly as collected. time necessary, to sell a numthe thereon from interest with have and specifications plans . payable in advance and shall bondholders, the board- - by -- an The General- - Manager may ber of such obligations- - suffibeen heretofore approved by the date hereof until paid at the Clerk , begin to, accrue the day on rate of instrument in writing duly au- make such arrangements for cient to produce the money necper board. which service bccjE'.CJ avail(Provision for Registration) thorized by resolution shall in the maintaining of facilities for essary to make up the deficicent ( ) per annum, pay Section 3 able .but, haaJ not in paid r The within bond may" be reg- such case appoint a successor the collection of fees and char- ency in the funds nvrilable able August 1, 1961 and semiThe Bonds a pario o 2 thirty (50) for of of the holdin name in istered Februthe principal the of Treasurers payment on to thereafter the Trustee the jr and shall cause County ges For the purpose of paying part annually thorcaftte. Following secured on herds interest the daja office on 1 to each office as 1 the books er and in of of or the notice be of to thereof principal only August year, ary published of the cost of the acquisition the making of tho first paywhich sale may be made a sewage collection and outfall with interest falling due on and to be kept by the Trustee un- as promptly as possible in a fi- Trustee, or elsewhere, as may thereby, ment each monthly, payment be directed by the board. The by the Trustee cither 'privatesystem and a sewage treatment prior to maturity payable only der the resolution authorizing nancial newspaper or journal advance on shall be dua-inless and disposal plant, and for the upon presentation and surrender this bond as Registrar, such published in the City of New revenues so. paid to the Trus- ly or publicly, but. at nef fir.?t dry of tbs month. the d the than tee set be jricequot-ebe prevailing, Trustee to shall the hereon noted annexed interest New fiof the such in and by coupons a registration York, York, legal, of paying purpose A penalty of. fifteen per folfor the obligations so sold. engineering and fiscal agent ex- as they severally mature. Both in the registration blank be- nancial newspaper published in aside as received into the ceBi (151c) shud be added 11 which no and funds: interest Section after hereof low, in incurred of transfer lowing the special Illinois. principal City Chicago, penses reasonably to all charges delinquent for . connection therewith and with hereon are payable in lawful shall be valid unless made on The" successor trustee so apGeneral Covenants (a) Out of the revenues there lifUen (15) days or more. said books of the United States of the issuance the and board by serve be money shall shall registered pointed by lirut set aside ironi time the authorization The board hereby, covenants where the nature In cases holder his or America thereunBarnes at be Trustee the as attorney until such time to time as needed uu.-inpropBanking each apd a 'Trees with the successive of such bonds as may the from any of sewage to authorized and Utah. duly similarly as a successor trustee shall have Sinking Fund Year suc.i amount, holders from time to , time of erly payable from the proceeds Company, Kaysville, commercial or industrial This bond is one of an issue noted in said registration blaqjc been appointed by the bondholdif any, as may be necessary to the bonds and the coupons reprethereof, there shall be borrowplant, building pr premises ed on the credit of the revenues of $405,060 issued under au- below, but this bond may be dis- ers in the manner hereinabove provide for the payment, of sueh senting interest thereon, that bo .is such that it imposes an and payable solely from the thority of Chapter 6 of Title 17, charged from registration by provided. If in a proper case part of the expenses of main- long as any of the bonds unusual burden upon the to Code aftransferred of Utah 1953, no sum being purand succesAnnotated, $405,000, of the the bearer, a sysrnd appointment revenues, taining operating unpaid is outs.andirg system, an additional charge and that in evidence thereof suant to an election held in said ter which it shall be transferable sor trustee shall be made pur- tem in such braking Fund Year to, either principal or interest: shall be maue therefor, or to-t- he to to be on and authorized but district 1900, by a in be suant 3, May excess may the are there of delivery again promay hereby foregoing provi1. The board will maintain the board may, if it deems it Board resolution before. Such bonds of as the sions six within revenue m be issued the registered months after a ceeds derived such Sinking the regadopted by in good repair and system advisable, compel such plant, istration on amount. district Trustees of said shall not of such shall have occurred, the Fund Year from the levy of tha impair the vacancy the district in order and will operate building or premises to treat The revenue bonds shall be December 29, 1960, for the pur- negotiability by delivery of the holder of any bond or the re- four (4) mflls operation and Working will it efficiently and such sewage in such manfaithfulRevenue pose of paying part of the cost of coupons hereto attached. Sewer tired trustee may apply to any maintenance tax authorized to designated ly and punctually perform all ner as shall ' be specified Bonds, shall be dated February the acquisition of a. sewage col(No writing in this blank ex- court of competent jurisdiction be levied by Section reference to vhe syswith duties by the board before disto appoint a successor trustee. Utah Code Annotated, 1953. This tem 1, 1901, shall be in the denomina- lection and outfall system and cept by the Registrar.) reouired by the Constitucharging such sewage into Said court may thereupon after fund shall be designated as the tion tion of $1,000 each, shall be num- a sewage treatment and disand laws of th? Slate of the system. such notice as to it shall seem Operation ao bered 1 to 405, and shall be pay- posal plant, and the payment of and Maintenance Utah and th9 provirions of this All charges made for sewand incidental to both and ba maintained as trusa expenses, able shall principal proper proper, appoint successor Fund, resoiuticn. services shall be chargeer which with the of tee. in in lawful such reasonably necessary issue, together interest money any g 4e able against and payable 2. The board will fix and colat other bonds which may be isUnited States of America n o successor trustee ap- amount and shall be paid out in lect rates and Any by the owner of the premcharges for servc & Barnes Banking Company, Kays-vill- e, sued on a parity therewith unpointed hereunder shall with- such manner and for such pur- ices, supplied by the system fulises connected with the sew4 4) O be Utah. The revenue bonds der the provisions of the aforedirected the as poses may out by further act become M o fully er, but such owner may be ly sufficient, efte; making alshall bear interest at such rate mentioned resolution, is payable vested with all the estote, prop- board." relieved from such liabillowance for delinquencies in colFrom revenue not or rates not exceeding six per .from and secured by a pledge of the (b) erties, right, powers, trusts, ta conjuncity if and to the extent that (in lection, proride revenues be derived the to as annum from cent in each Fund may Sinking duties and obligations of its pre- required per such charge or charges tion with the proceeds of the any mainYear ana hereafter be determined bjr reso- the operation of said sewer sys .or decessor in trust hereunder with operation mainteare and annual paid by the occupant operation tenance lution of the board, which in- tern after provision has been as aoove provided, there like effect as if originally named of the premises. tax which is to be caused terest shall be payable on Au- made for the payment from as Trustee herein, and the Trus- shall be set aside into a lund nance the board ahd in 3. Any charge for services such revenues of certain extee ceasing to act shall pay over to be uesignated as tne i.ev-en- to be levied by gust 1, 1961 and Bond and Interest Re- conjunction with the amounts rendered by the system which thereafter on Februaiy 1 and penses of operating and mainto the successor trustee any tne August 1 of each year. amount received from incorporated mu- is not paid within ninety (90) taining said system, and is not money or securities which may demption Fund treat- days from the date on which it dissaid a of be hereinafter to general obligation bebe paid nicipalities for sewage then required in its possession under The revenue bonds shall and disposal'service. pur- becomes due shall be certified and in no trict event ment be shall into in such such fiscal fund the terms hereof. come due serially in numerical considered a debt for the pay, - suant to .contracts between such by the Clerk of the district to year. order on February 1 of each Section 8 Section 7 ment of which the faith or cred.f The revenues not required municipalities and the district) the Treasurer or Assessor of (c) as follows: The year Consulting Engineers The Trustees in each Sinking rund Year for for the payment of the expenses Davis County and in each such it of said district is pledged. Neff Engineering Company of maintaining and operating th9 case such delinquent charges, For the benefit and protection Bonds numbered 101 to 405, Bond Numbers Amount the payments above required to of Salt Lake City, Utah, has be maoe and to presaFve it in gather with interest and penalinclusive, of the issue of which of the revenue bonds and the been'heretofore-selecteinto the Operation and by the Maintenance bund and into the good repair and working or- ties, shall immediately this bond is xne are callable for holders thereof from time to upon board and are hereby appointed Revenue Rond and interest Re- der,- to produce an amount in such certification become a lien redemption at the option of the time and the holders of the cou- as suffifor consulting the Fund Year each engineers Sinking on the delinquent premises on a district on February 1, 1976 and pons, First Security Bank of Fund, shall be paid It demption on any interest payment date Utah, N. A., Fourth South purposes of this resolution. into a lund to be known as the c'cn to Py maintenance and parity with and collectible at be shall the of such engi- "Reserve Fund duty thereafter, in inverse numerical Branch, Salt Lake City, Utah, neers to whenever toe Operation expenses, to make the the same time and in the same complete preparation of amount on deposit in said fund payments required to be made mrnner as order, at the principal amount is hereby appointed as Truscounty taxes, thereof plus accrued interest to tee, with the powers and duties any part of the plans and speci- - is less man $25,666 or Sucn into the Revenue Bond and In- - all as provded in Section 17 and Fund lertst the date fixed for redemption hereinafter provided. Redemption (jtah Code Annotated, larger amount as may be i.pe- is to be construct- cified The Trustee accepts the duand a premium of $40 for each in any proceedings here- the Reserve Fund in such Sink- 1953. It shall be tne duiy of tha ed with the availof ties the make sub-proceeds to Fund herein in bond so redeemed on or before Year, 1 its ing imposed proper officials of Davis Counbonds herein authorized, if such after adopted authorizing the able for purposes having prior- ty to utilize promptly all methissuance of revenue bonds on a August 1, 1980, $30 for each jeetto, the following terms and and plans have conditions: specifications bond so redeemed thereafter and j parity with those herein au- ity junior to payments into the ods of enforcing such lien avail1. The Trustee assumes no re- not been heretofore entirely thorized, under the provisions of Revenue Bond and Interest Re- able for collection of on or prior to August 1, 1985, general to supervise the con- Sectioh J1 hereof. Money in the demption Fund an amount equal county taxes, including sale of $25 for each bond so redeemed sponsibility for the correctness completed, thereafter and on or prior to of the recitals herein contained struction of such portion of the Reserve Fund shall be used to in isuch' Sinking Fund Year to the delinquent premises. Tha and any improvements the amount required to board will use all means legally, ot or interest on 46-August 1, 1996, and $20 for each or for representations am to the system pay which bondsprincipal from the Reven- be paid into said fund in such available to it for the enforcebond so redeemed thereafter pri- value of the system or the title and extensions thereto payable or to maturity. Notice of the of the district thereto, or the may be made while any of tho ue Bond and Interest Redemp- year, and to perform all other ment of the payment of tha call of any of the bonds for re- validity of this resolution or the revenue bonds remain outstand- tion Fund as to which there duties required to be perform- amounts required to be paid to ing, to supervise the application would be a default if money in ed under the provisions of this the district by demption is to be given not less bonds and attached coupons. incorporated mu2. The Trustee shall not be of the proceeds of the bonds to the Reserve Fund were not so resolution. The board covenants than thirty days prior to the nicipalities for sewage treatment the of the construc- used. payment that it will levy and collect in and disposal service as above redemption date by registered liable for failure of the board mail to the registered holders to insure or renew insurance or tion costs in the manner hereAfter there shall have each tax year, beginning with set forth, and unless legally (d) inafter provided, and to perthereof at the addresses shown for the amount of insurance carmade in each Sinking Fund the year 1961 an ad valorem tax prohibited will shut off service form such other functions as been on the Registrars registration ried by the board. Year the payments required in on all taxable property in the to any such municipality which 3. The Trustee may execute are hereinafter specifically menbooks. If any bond is called for (a), (b) and (c) district at such rate not greater shall became more than three tioned. At any time after the redemption which is not at the any of the trusts or powers above, and after any deficiencies than four (4) mills xm the dol- months delinquent in the paytime of call registered as to hereof either through itself or completion of the construction which may have existed in pre- lar as will be fully sufficient, ment of amounts due the disprincipal, not less than thirty by or through its attorneys, of the portion of the system vious Sinking Fund Years shull after making due allowance for trict. which is to be constructed with days notice of redemption is to agents or employees, and shall been remeuiea, the remain- delinquencies in collection, to 6. The board will maintain the proceeds of the bonds here- have revenues be given through the publica- not be answerable or accountrecsived in such pay all reasonably necessary and keep proper books of record ing in authorized, or earlier if said Sinking Fund Year shall be costs Of maintaining and oper- and tion of an appropriate notice one able for any act,, default, neaccount from all time in a financial newspaper glect or misconduct of any such Neff Engineering Company be- paid by the board to the Trus- ating the system in the year in other recordsseparate and accounts in comes unable or to which such taxes such fall unwilling due, published in the City of New attorney, agent or employee if tee to retire in advance of mawhich shall be made full and inclusive, of the bonds herein York, New consulting en- turity revenue bonds or bonds tax being the tax authorized by correct entries of all transacYork, or Chicago, reasonable care has been exer- serve, successor authorized shall be callable for ' be gineers may the appointed by Utah Code tions relating to the Illinois, and sent by registered cised in the appointment and hereafter issued op a parity Section system. board, but such successor engiledemption at the option of the mail to the bank at which the retaining thereof, nor shall the neers or snail be used or Annotated, 1933. Such books of record and actherewitn, district in inverse numerical or- bonds are so appointed shall be en- reserved by the board for the Trustee be otherwise answer-abl- e time If at revenues payable. the count shall be audited in tha any der on February 1, 1976, and on This bond' is or accountable except fur gineers of recognized ability and making of replacements, exten- arising from such charges shall same manner and at the san e statute made any interest payment date there- fully negotiableby for all pur- its own gross negligence standing in matters pertaining sions or bad or improvements to the not be sufficient' to; make all times as are county records, and after at the principal amount poses but to toe construction and operamay be registered as faith. system, or shall be used by the ruch payments promptly as not later than one month after thereof plus accrued interest to to tion sewer of The fees systems. The 4. Trustee shall be under board to pay principal of and herein required, the board will the making of each audit, tha principal in the manner and the date fixed for redemption with the effect for which pro- no obligation to perform any for services rendered by the interest on junior lien bonds or revise the sewer service .ebarr board will cause to be delivered and a premium of $40 for each vision consulting the engineers after appears on the back here- act hereunder or to institute or obligation bonds of the ges to users other than the mu- to the Trustee and to the hold- general bond. so redeemed on or prior of. of the completion defend any suit in respect hereportion of the district, or lor any other law- nicipalities whose charges are era of the revenue bonds to August 1, 1960, $30 for each Under the provisions of the of unless properly indemnified system which is to be construct- ful purpose, in the discretion of fixed by contract, s.o that such who may have so requested copbond so redeemed thereafter and ed and to its satisfaction. acquired with the pro- the board. An retiring bonds deficiency will, bs remedied be- ies of aforementioned resolution of such audit. Each such on or prior to August 1, 1985, December 5. Th Trustee shall not be ceeds of the bonds voted at the hereunder, the Trustee is here- fore the end of the next ensuing audit, .in addition to whatever 29, 1960, First Se$25 for each bond so redeemed election above referred to shall Bank to notice of take N. Fourth required of any Utah, by authorized to give the noti- Sinking Fund Year. If any such matters may be thought proper thereafter and on or prior to curity South Branch, Salt Lake City, default of the district or the be considered as one of the ex- fication .of redemption herein- revision in charges shall so be- by the auditor to be included August 1, 1990, and $20 for each Utah, has been appointed Trusboard unless specifically noti- penses of maintaining and op- above and to pay all come necessary, the - board therein, shall include the followrequired bond so redeemed thereafter pri- tee the erating system. for the benefit of the hold- fied of such default in writing bonds presented for redemption agrees to consult .with and be ing: or to maturity. Section $ ers of the bonds of this issue, by the holders of of the and to cancel all bonds so re- guided by the advice of the con(a) A statement in detail of Notice of the call of any of and for a statement of the du- outstanding bonds." any The General Manager deemed and deliver the cancelled sulting engineers as to what re- the income and expenditures of the bonds for redemption is to ties of said Trustee, a more comThe board agrees that it will bonds to the Treasurer. 6. The Trustee shall not be vision should be made; If the the system for the fiscal year. If prior be given not less than thirty plete statement of the reven- bound to recognize any person appoint a well qualified general to the time at which notice of board shall fail to revise such (b) A balance sheet as of tho days prior to, the redemption ues from which and conditions as the holder of any of the manager for the district who must be so given it charges as herein required, the end of the fiscal year. date by registered mail to the under which this bond is pay- bonds unless and until title shall serve at the pleasure of the redemption shall appear to the Trustee that holders of not less than ten per (c) Tha auditors comments registered holders thereof at the able, a statement of the condi- thereto is established to the sat- board and be charged with toe revenue in aggregate princi- regarding the manner in which bonds can be purchased cent addresses shown on the Regi- tions on which obligations isfaction of the Trustee. general management of the sys- on the open market at a price pal amount of the outstanding the board has carried out tha strars registration books. If hereafter be issued on a may 7. The Trustee shall not be tem, and whose salary shall be lower than that at which rev- revenue bonds and bond hereparity requirements of this resolution is bond called for redemp- with this bond, the conditions held responsible in acting upon one of the expenses of main- enue bonds can be called for after issued on a any parity .with end. the auditors recommendation which is not at the time of under which and extent to which any notice, resolution or other taining and operating the sys- redemption, the Trustee shall the revenue bonds, whether-- r tions for any changes or imcall registered as to principal, said resolution may be modified paper or document believed tem. use ah or part of such surplus not any of the bonds shall then provements in the operation of by not less than thirty days notice with the consent of the holders it to be genuine and to have The General Manager may funds for the purchase of rev- be in default, shall have author- the system. of redemption shall be given of seventy-fiv- e been signed or presented by the either serve as collector of the enue bonds at the best per cent price or ity to bring an appropriate ac(d) The number of properties through the publication of an in principal amount of the out- proper party or parties. revenues of the district or may prices obtainable. All bonds so tion in any court of competent connected with the system al one in notice time appropriate 8. The Trustee shall not be employ a collector, as may be standing bonds of said issue and purchased shall be similarly can- jurisdiction to compel the board the end of the fiscal year, thC a financial newspaper published the general covenants and pro- obligated or liable to allow tne determined by the board, but celled and delivered to the Treas- to carry out the proviaiona of number of occupied buildings in in the City of New York, New visions applicable to this bond, district interest on this paragraph. The . board the unincorporated areas In tho any money the General Manager shall in urer. York, or Chicago, Illinois, and reference is hereby made to said received by it hereunder, The amount to be paid into agrees that it will make no re- district which are not connected except any event be responsible for the sfcnt by registered mail to the resolution. Thea district has as herein otherwise specifically prompt and aggressive collec- the Bond and Interest Redemp duction in- - the schedule of char- with the system, and as to each bank at which the bonds to be covenanted and tion of all fees and charges due tion Fund in each Sinking Fund ges hereinafter! set eut and that agreed and does provided. municipality receiving sewage redeemed are payable. 9. The district will pay to the for the services rendered by the Year shall be such amount as it will not hereby covenant. and agree to permit to be reduc- treatment and disposal service maintain continuously such rates Trustee from time to time a system and for tjie prompt pay- will be Section 4 ed the to sufficient be to from the district as aforesaid, charges required pay fqlly for services furnished by the reasonable compensation for its ment thereof to the Trustee as all Registration and. interest fall- paid to the district by incorpo- the number of properties in principal The bonds shall be registrable system as will be sufficient to services rendered hereunder, hereinafter provided. such 'municipality ing due on- August 1 of such rated municipalities for connected as to principal in the manner provide revenues fully adequate which compensation shall be reThe General Manager shall be Sinking Fund Year and on Feb- treatment and disposal sewage service with the municipalitys sewer and with the effect provided in to carry out all of the require-mento as an a of garded required expense supply fidelity ruary l of the next succeeding under the contracts entered in- system at the end of the fiscal the form of bond hereinafter set of said resolution. and the sys- bond written by a surety com- Sinking Fund Year on such rev- to between such municipalities year. out. It is hereby certified, recited tem and shalloperating be payable from pany of recognized standing and enue bonds and Buch The cost of such audit shall obligatiqns and the district, until all of the and declared that all bets, con- thi revenues thereof Section 5 at as .may be issued in the future revenue bonds Issued hereun- be considered to be one of tha according. with a discovery clause ditions and things required to ' Execution of Bonds least three years, in the amount on a parity with the revenue der shall have been retired, but costs of maintaining and oper.,. Each of the bonds shall be exist, happen and be performed 10. ihe Trustee may become of not less than $25,660, to asbonds under the condition here- this sentence shall not be ap- ating the system. The board will signed by the Chairmen of the precedent to and in the issuance the owner of bonds and coupons sure the faithful carrying out inafter set out. There shall also plicable to the amounts fixed promptly cause to be corrected board, shall be attested by the of thiS' bond and the issue of with the same rights it would f hi and the prompt be paid into said fund all ac- for connection charges or initial all failures disclosed by the auClerk and shall have impressed which it is one, have existed, have if not Trustee. and diligent enforcement, col crued- interest received from payments. ditors report to have been made thereon the seal of the district. have happened and have been The Trustee and an succes- - lection and proper 3. The board will not permit in observing the covenants and application the purchaser of the revenue Interest falling due on the bonds performed in due time, form sor trustee may resign by giv- - jof all fees and charges due for bonds at the time of the delivery free services to 'be supplied by agreements of this resolution. on and prior to maturity shall and manner as required by law, ing to the District Clerk notice tne services of the system. The thereof. Money in' the Bond and the system to the district or to - Said books of record and acbe evidenced by appropriate in- and that the amount of this in writing and by xor such bond shall be Interest Redemption Fund not any person, firm or corporation, count, as well as the physical giving the terest coupons to be thereto att- bond and of such issue do not bondholders notice through regarded as one of the expenses needed for the payment .of prin- public or private, or to any pub- properties of the system, shall ached, which coupons shall be exceed any applicable limitaat least once not less of maintaining and operating cipal and interest be open to examination at all failing due lic' agency or instrumentality. signed by said Chairman and tion prescribed by the constitu- than sixty days prior to the the on the next inteiest payment 4. ,Tlje minimum schedule of reasonable .times by the holders system. Clerk by their facsimile signa- tion or statutes of the State of effective'date of such If at any time the holders of date may be invested in ninety rates for services rendered, by of any of the revenues bonds resignatures, and said officers shall by Utah. tion, in a financial a majority In aggregate princi- day bills of the United States the system, which scnedule shall and by the Trustee . and . it IN WITNESS WHEREOF, or journal published innewspaper the execution of the bonds adopt the City pal amount of the outstanding Treasury. be subject to such increase and agents, engineers, accountants as and for their own proper Central Davis County SeweS of New York, New York, and All . money in the Revenue revision from time to time as and attorneys, although the in revenue bonds and bonds herefacsignatures their respective District, acting through its a financial newspaper published after issued on a parity with Bond and Interest Redemption may be necessary to carry otit Trustee shall be under no duty simile signatures appearing on Board of Trustees, has caused in the City of Chicago, Illinois. the revenue bonds shall file with Fund and all money in the Re- the provisions of this resolu- to make or cause to be made said coupons. Each bond shall this bond to be signed by the Such resignation shall take ef- the Clerk of the 'board a writ- serve I und which is not invested tion, shall be as follows:. eny such examination unless recontain the recital of regularity Chairman and attested b the fect on the day specified in such ten instrument or concurrent in securities as herein permitSingle residential units, $3.00 quested so to do by the holders authorized by Section Clerk of said board and Jhe cor- notice unless previously a suc- written instruments of twenty-fiv- e requesting ted shall be held by the Trustee per month. per cent Utah Code Annotated, for which porate seal of said district to cessor trustee shall have been the in principal amount of tha outDouble residential units, resignation of ehe General as a special trust fund, the bene-- 1 provision is made in the bond be impressed hereon and has appointed either by bondhoid-e- Manager, the board shall ficial interest in which shall be apartment houses, commerstanding revenue bonds and form hereinafter apoearing. caused the interest couoons or bv the board as herein- and within cial and industrial ' Unite, thirty in the holder from time to time pro (continued ta pays 9) I 8. The words Resolution A RESOLUTION providing lor the acquisition ol for sanitary sewer facilitiesSewCentral Davis County er District, providing for the Issuance of 405.000 Sewer Revenue Bonds of Central Davis County Sewer District; entering into certain agreements and making Certain provisions for the security and payment of such bonds; providing for the sale and delivery of such bonds, and entering into collateral agreements and in connection provisions with the foregoing. the general ob- Meciion ' TV ' 6 etta"hl - pro-Mc- take-effec- . - v , there was held in Central Davis County Sewer District on May 8, 1960, an election at which there was submitted to the qualified electors of said district who had paid a property tax in said district in the year naxtepreceding the election, the following proposition: Shall the bonds of Central Davis County Sewer District in the aggregate amount of 11,050,000, maturforty ing in not to exceed (40) years from the date interthereof and bearing est at not to exceed the rate per ? of six per cent num, to be issued by said district for the purpose of of paying part of the cost the acquisition of a sewagen collection and outfall and a sewage treatment and disposal plant, for said district, and for the purpose WHEREAS (6) sys-ter- of paying such legal, engi- and WHEREAS due and legal no- -, tice of the calling of said election waa- given and said election was in all things properly held and conducted and resulted in the approval of said proposition by a vote of 430 in favor and 329 against; and WHEREAS of the bonds so authorised at said election, there have been heretofore issued general obligation bonds to the ' 643,000, but no rev- enue bonds, and it is now desired to provide for the issuance, of $405,000 .revenue bonds in older to pay part of the dost of the acquisition of the system for which the bonds werq voted; NOW, THEREFORE, Be It Resolved by the Beard of Trus-tees- j, of' Central Davis County Sewer District, a "fallows: Section 1 Definitions and words The following terms used in this resolution shall be construed as 'follows: 1. .The board tffrU be understood to mean theN) oard of Trustees of Central Davis Coun- ty Sewer District. i.JUhe district shall be understood to refer to Central Davis .County Sewer District as such district now exists or as it may at any time hereafter exist with extended boundaries. 3. The .consulting engineers shall be understood to refer to Neff Engineering Company of Salt Lake City, Utah, and to any successors to said engineers who may be hereafter selected in the manner for which provision is made in this resolution. 4. The Trustee shall be understood to be the bank hereinafter designated to perform the various duties for which provision is herein made, and any bank which may in the future succeed to the duties of the Trustee as herein provided. 5. The words the system and the sewer system shall be understood to mean the sewage collection and outfall system with sewage treatment and disposal plant constructed with the proceeds of bonds heretofore issued and the bonds herein au- thorized, together with all im- provements and extensions hereafter made thereto, and together with all sewer properties and facilities now and hereafter owned by the district and serving the district, including real estate trunk and lateral mains, pipes, valves, buildings, machinery, apparatus and equipment of every character and description and all rights, privileaseholds, leges, easements, and franchises, rights-of-wacontracts pertinent thereto or used in connection therewith, whether lying within or without the boundaries of the district. 6. The words the revenues" shall be understood to mean all revenues of every character derived from the operation of the system, including' not only all payments made by residents and of the district for current services rehdered by the system,' but including also all initial payments as hereinafter defined. To the extent that provision is hereinafter made for the application of insurance proceeds to the payment of principal of or interest on the bonds herein authorized, such proceeds shall also be considered to be Included in the term the revenues. There shall not be included in the term any money derived from the levy of taxes on taxable property iji the district. 7. The words initial payments shall be understood to mean ' all ' advance payments made by prospective users of the system in anticipation of connection with and use of the system, in consideration of the acquisition of the system by the district and its availability ' to such users, provision for which payments appear in the schedule of fees Tontained in Section 11 hereon . y, If .. . . in agent neering and fiscal incur-'red expenses reasonably in connection with the acquisition of such system and with the. authorization and issuance of such bonds an may be properly payable from the proceeds thereof, which bonds shall be payable either entirely from ad taxes or entirely valorem from the operating revenues of all or part of the facilities and properties of said district, or in whole or in part from both ad valorem taxes and such operating revenues, in the discretion of the Board of Trustees of the district? amount of . .8 Sf L 22 (6) semi-annual- ly d f'Vri ef ' of-an- - (10) (75) - - ts main-winin- i of I.- pub-licati- (25) I,' I |