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Show l (Continued from preceding Page) serial registration certificate to be placed herein except writing ood (M registered Bond ehall oimer or hie Date of Registration be payable only to the order of the legal representative. of Registered Name On war Bond is to bond in registered be (Include the following if Registrar' the form) the registered hereof in person or by his attorney duly authorized in writing, by the surrender of this Bond, together with INSTALMENT PAYMENT CERTIFICATE The undersigned, Treasurer of the Issuer and duly authorised representative of the holder of this Bond, hereby certify that the amount(s) shown below are the monthly installment payments to be made on pay the Total fully Principal years from ) ( this Bond interest thereon within the date of this Bond. and upon presentation of this provided above. Bach holder of this Bond is payment all hereby placed on notice of payments of this 6. serial The upon conversion of said all Iseuer from obligation aa to interest paid prior to the date single Interest Water Revenue of euch in Section forme Subordinate Fund", into which Bond Sinking twelve special of the percent (12 I) net revenues to be derived from the System, including any future improvements, additions and extensions thereto. For a more dated as of the date particular description bs in such denominations, not to exceed two, as shall of said fund, the revenues to be deposited therein and the nature and extent of the security afforded thereby, reference is made to the provisions of the aforementioned Resolution adopted by the Issuer pursuant to which this bond ia is effected and will permit them to mature within the oriqinal term of the single bond io substantially the saw amount (s) of principal and Interest as are required to bs paid annually bond, as sat forth In the Amortisation a original of tbs series if may be used thereof. serial The shall bonds be in Issuer's time to time are in the special monies which from and inferior to substantially the serial an attended an Feb- (and water revenue bonds issued upon This Bond, and the issue of which and shall never constitute UNITED 1975 7, 1974 to ruary 6, 1975) , including conversion of the single water revenue bond issued thereunder any following form STATE OP AMERICA STATE OP UTAH COUNTY OP BOX ELDER TOWN OP MANTUA WATER REVENUE SUBORDINATE of the lien thereon tha $114,000 1975 Water Revenue Bond issued pursuant Ordinance of tha Issuer adopted on November redemption upon all upon reapects subordinate necessitated by the redemption provisions set forth in the serial bonds lien part, shall constitute forms a fund herein pledged; provided, that, the lien of this Bond, and the issue of which it forme a part, upon said names shall be in ell term of the single bond, except that Bond Nwbsr 1 may bo in a different denomination if necessary and additional denominations it Thie Bond, and the issue of which Schedule referred to during each of the remaining years of tbs therein, issued and such fund has been established and will be maintained. the single on it forms a does not now part, an indebtsdnees of the Issuer within the meaning of any State constitutional provision or statutory limitation or e charge against the general credit or taxing powers of the Issuer. BONDS Issuer hereby covenants with the bond holder to perform all covenants and agreements contained in the The No. 9 ALL KNOW MEN Box Elder County, THESE BY "Issuer) for Utah (the keep and That the PRESENT value Resolution of the Issuer authorizing the issuance of this bond and the issue of which it forms a part,, and the Issuer will fix, of Mantua, Town received, establish, maintain promises to pay from the special fund hereinafter described and in the manner hereinafter set forth, but not otherwise, to (the bearer) (the order of the registered owner) hereof, the principal sum of Dollars day of January, 19 unless this ($ ) , on 0 the is redeemed prior thereto as hereinafter provided, together with interest thereon from the date of this bond until paid at the rate of five percent (5) per annum, , said interest 'payable bond on January and on the 1, 19 it the issue of which first ( 12) of the said net revenues, said interest on this Bond and forms a part This bond is subject to the conditions, (or of such coupons) that, (a) delivery sequent holder of this of this bond to any transferee shall vest title in this bond bond as to maturity, in the aggregate principal amount of (and in the interest coupons attached hereto) at the time of such delivery (and the delivery of any interest coupons attached ), issued in exchange for and conversion of the Issuer's 1975 Water Revenue Subordinate Bond dated hereto to any transferee shall vest title in such interest coupons so delivered) to the same extent for all purposes as would any such delivery under like circumstances of any negotiable instru- ($ in the total principal sum of $ a Resolution of the Issuer duly adopted 1975 all By purchasing this , the purchaser bond it is quiring improvements, additions water system (the Municipal Bond by agrees to accept this ac- full same are hold by from and without regard all hereby acts conditions, of this which Bonds of principal of it forms c this Revenue bond Bond any is one and by of like maturity and Any redemption of any of the said Bonds shall be with- the aforesaid $114,000 1975 Water of the Issuer. shall never constitute an indebtedness of the Issuer within the meaning of any State constitutional provision or statutory limitation or a charge against the general credit or taxing povsrs of the Issuer. countersigned WHEREOF, the Town of Mantua, OF MANTUA, with the saal of the necessary supporting documents and certificates. and directed to sign or to cause his The Treasurer is empowered facsimile signature to be affixed on any coupons which may be attached to any serial bonds which may be issued pursuant and any is further authorized directed and certify as to the dates of payment and amounts paid on the single Bond and to further certify to tho monthly installment to to ba set forth in the Installment Payment Certificate on tha payments Ths acts of ths President, Tcwn Clerk and Treasurer in so doing single bond. tions and ond deed orncos. noicung suen All of the covenants, statements, representacontained in said bonds and all of the recitals and agreements this Resolution are hereby considered and hereby ordered and declared that the said of rooresentations understood it and is covenants and promises therein herein are the covenants and and promises of the Municipality and that the therein statements and representations herein are tho representations and and statements The Town Clerk is hereby empowered and directed to register the said single and any of the said serial bonds which may be issued in registered form in a book or record of said Municipality. to be kept and maintained in thin office and, upon payment of the serial bonds or price, to deliver said finale ourchase Box Board of Trustees Home Administration (Include the following Registration Certificate only if the serial bond is issued in registered form REGISTRATION CERTIFICATE writing to be placed hereon except by Bond Registrar) Date of Registration Name of Registered Owner Signature of Rond Pectirij paid. shall be and made under a be paid immeidatley Certificates Any cancelled and shall not re reissued. te shall be the transfer of bonds so redeemed and when the same become due and payable. Following (d) If at any time, the Net Revenues derived from the operation of the System shall ba insufficient to percent (12 make good tha amount of such deficiency by making additional payments out of the first available revenues theieafter derived from the operation of the System. is hereby desig City nated as custodian of the Revenues for the purposes on the provided, that, the lien of the Bonds on said portion of said net revenues shall be in all respects subordinate and inferior to the lien thereon of the Municipality's $114,000 1975 Water of this- Section. day to be known in shall a bank insured Fund", which fund "Revenue shall the first there shall amounts in the nil -- spccirl and not general held m the above funds or accounts be r.vld ns onev shall be held as special trust funds, the beneficial interest in which shall be in the holder or holders of the bonds. All money so held by the custodian bank shall be secured to the fullest extent required or permitted be deposited be paid all Fund Revenue Operation Maintenance Expenses of the System. to the securing of public deposits. and For this The Governing purpose Fund as Revenue for the following month. There shall be allocated to the Expense Account from time to time during the month such additional amoutns as may be required to each Sinking Fund Year all amounts in the Expense Account in excess of that required to pay Opera- inafter provided. From amounts in the Revenue Fund there shall payments required to be made to the Fund", "Bond Account", "Reserve Account of Section 9 all with and as required by the provisions of the 1974 Ordinance, the provisions of Section 9 of the 1974 Ordinance. (c) Twelve percent (12) of the amounts in the Revenue Fund not allocated to the Expense Account and to the funds and accounts required by the 1974 Ordinance of this a fund (as provided Section ) established Municipality in paragraphs shall on (a) and (b) allocated to the books of the be known as the "Town of Mantua 1975 remove said designate a different bank to so of each registered owner registered as any amd any bank so by from time to of each bond tine, principal of or interest bond and with the payable on holders, to bearer that so long the bonds remains outstanding unpaid: and Maintenance Expenses for which the amounts theretofore allocated to the Expense Account are insufficient. At the end of and resolution, designated shall be one the Federal Dcnosit Insurance Corporation and qualified as a depository of public funds under the laws of the State of Utah. Section 10. The Municipality covenants with the insured day of each month, such portion is estimated to be required for Operation and Maintenance Expenses of the System of the Body may, by act, provided, that, Account" to which shall be allocated monthly, or before the 10th custodian Bank as the Municipality has established pursuant to Section 9 of the 1974 Ordinance an account known as the "Expense on and by tho laws of Utah pertaining From (a) from be allocated deoosits, Deposit Insurance Corporation and by the Federal shall, be deposited in said bank and custodian ba,'. chn'l other funds of the Municipality, which fund shall as the "Mantua Water Revenue Fund", sometimes herein all referred to as the All the Revenues received day as received, by said bank pcriodicallY in the manner described herein. All money so held by the issued pursuant to the Ordinance of the Issuer on November 7, 1974. All revenues of the System shall adopted be deposited from day to day as collected in a fund separate and Bond, from Bank of Brigham (e) Bonds apart the above funds or specified, the Municipality shall for the sole interest purpose of the payment of the principal of and make any payment to any of on the date or dates accounts of the Net Revenues derived ) from the System are hereby set aside and pledged Revenue apart from all other investments and extent necessary to use the funds derived thereby to pay the principal and interest on the bonds as after the issuance of the bonds and interest thereon have been fully paid, and in the State of any bank funds of the Municipality, and shall be liquidated as prevailing market prices whenever and to the From and twelve and separate the Construction Fund will be closed. until all principal issued by years fron the date of purchase. Such investments shall be held by the Municipality as a special trust fund unexpended funds from the Construction Fund to the said Sinking Fund, Section 9. of Deposit (2) The the face amount thereof. Bond Reserve Utah authorized to act as a depository of public funds under the laws of the State of Utah maturing not later than two into the subor-dina- fully America maturing not later than two (2) years from the date of purchase or in Time con- Subordinate Sinking Fund" said unexpended balance of the Bonds shall be used only for the payment or prepayment of amounts of principal due or to become due on the single water revenue bond or for redemption of any serial water revenue subordinate bonds at a price (exclusive of accrued interest) not have been invested, in the discretion of the Governin direct obligations of the United States of ing Body, deposit Bond "Town of Mantua 1975 Water Revenue hereinafter described. on the Bonds Account may be to said All monies so deposited interest All monies in the 1975 Subordinate (c) structing the System, including any architectural, engineering, legal and other expenses incidental thereto. Any unexpended balance of the Bonds remaining in the said fund after completion of said in accordance (SEAL) of and deposited at the time of sale in a special fund to be known as the "Construction Fund". Said fund shall be deposited in a "supervised bank account" as defined in the regulations of tion and Maintenance Expenses then due shall be transferred of the Sinking Fund established as here- UTAH extensions, improvements, additions, repairs and replacements to the System and for any other lawful Municipal purposes until the principal of the sale of the said bonds be agreement with the Government. 1975 Subordinate Bond Account, 1975 Subordinate Bond Reserve Account and 1975 Subordinate Bond Emergency Repair and Replacement Account have been made , may be used to prepay or redeem the bonds in whole or in part, or to make tlm. Section. the Farmers allocated to the amounts All remaining funds, if any, in the Bond Sinking Fund after all of the payments required to be made into the 1975 Delivery of a chock for deposit in a "supervised pusuint to the regulations of the Farmers Nome Wmni'.tration shall be consi derd payment within the meaning of shall the Of 1975 Subordinate account" The proceeds .7 7. (iv) bonds to tlic purchaser. Section 8. Bond (lii) Of the amounts allocated to the 1975 Subordinate Bond Sinking Fund, after there shall have been allocated the amounts required to be allocated to the 1975 Subordinate Bond Account and tha 1975 Subordinate Bond Reserve Account, including any amounts to remedy sny deficits which may have occurred in the allocations to bs made to the 1975 Subordinate Bond Account and the 1975 Subordinate Bond Reserve Account, there shall be allocated monthly, on or before the 15th day of each month, to a subaccount established on the books of the Municipality known as tha "197S Subordinate Bond Emergency Repair and Replacement Account," the 2. 00 urn of $ plus such additional amount as may be required to meet any monthly installment to said account not therefore made in whole or in part, such allocations shall continue until there ehall have been accumulated Such in said account the sum of $ 400. 00 account shall be used solely7or emergency should repairs and replacements to the System such repairs or replacements be necessary. At any time the amount in this account is less than the balance prescribed above, deposits shall be returned until the required amount has been so transferred to such account. of the Municipality and the authority to ouch officers shall eoply to all parsons now or hereafter granted arc ord ehall be the act "Sinking (No (ii) affixtd thsreto. Ths Prssident is hsrsby eaipowered and to countersign and affix dirocted to sign and the Town Clerk and to prepare the described the seal to the bonds hereinbefore hereto and the Treasurer e- Subordinate Bond Sinking Fund after there shall have been allocated the amounts required to be allocated to the 1975 Subordinate Bond Account, there shell be allocated monthly, on or before the 15th day of each month , to a sstabllahed on the books of the Municipality known aa the "1975 Subordinate Bond Reserve Account the sum of $ 5. QQ plus such additional amount as may be required to meet any monthly installment to the 1975 Subordinate Bond Reserve Account not therefore made in whole or in part. Such allocations shall continue until there shall hava bean accumulated in the 1975 Subordinate Reserve Account an amount equal to the largest future Bond Service Requirement falling due in any 12 month period on the bonds or $ 600. 00 whichever is greater Amounts allocated to the 1975 Subordinate Bond Reserve Account shall be used solely to pay the principal and interest falling due on the bonds at any time when there are not sufficient funds in the 1975 Subordinate Bond Account to pay the same, but ponding auch use Whan the may be invested as hereafter provided. 1975 Subordinate Bond Reserve Account has been accumulated as in this paragraph provided, no further allocations to the 1975 Subordinate Bond Reserve Account need be made unless payments from the 1975 Subordinate Bond Reserve Account have reduced the same below the amount raquired by this paragraph, in which event allocations shall be resoned until such deficiency has baen remedied. Municipality bonds som- purpose. President by the be signed Town Clerk make payments of Operation Clerk the - shsll Said bonds bv the (b) stated, less than amount of the Bond, a Bond Chapter 14, Title 1953, as amended, and do not now and next be paid tho entire principal amount of this Bond may be so redeemed, and In such case, upon tho surrender of the Bond, there shall be Issued to the owner thereof, without charge therefor, for the princioal interest rate. Bond and President, at that time. unrodeemed balance of tho additions and By Town as above exist, the issue of interest this part, and that said percentage of the net on TOWN if redeemable, uo pari Elder County, Utah, has caused this Bond to be signed by the President of its Board of Trustees and countersigned by its Town Clerk with the seal of said Issuer affixed, all as of the , 1975. day of notice has been properly given and and funds (or securities in which such funds are invested) equal to the redemption price have been deposited at the place of payment is forms a future improvements, and IN WITNESS COUNTER8IGNED: Bond it revenues of the System are not pledged, hypothecated or anticipated in any way other than by the issue of bonds of tion of the notice shall not be required. Interest on any Bond subject to redemption shall cease to accrue after the date fixed If this (and of each Bond certified, recited and declared that things essential to the validity notice by registered or certified mail to the registered owners thereof not less than thirty (30) days prior to the date fixed for redemption shall be sufficient and publica- Bond this and registered, for redemption of said equities, the original any extensions thereto, have been pledged and will be set aside into a special fund by the Issuer to be used for the payment to be redeemed are at that time Subordinate , and numbered Bond Act, Fund" Subordinate assurs, to the extent the availability of net revenues from the System, the prompt payment of the principal and interest on the Bonds as each shall become due. The amount to be so sst aside shall, as nearly as may be practicable, be set aside and allocated to the 1975 Subordinate Bond Account monthly, on or before the 15th day of each month, and shall equal at least the amount of the principal and interest on ths monthly installment payment next due on the single bond or l12th of the amount of the principal and interest on ths serial bonds next maturing to the end that there will be sufficient funds allocated to the 1975 Subordinate Bond Account to pay the principal and interest on the Bonds as and when the same become due. Amounts allocated to the 1975 Subordinate Bond Account shall be used solely for the purpose of paying principal and interest on the bonds and shall not be reallocated, transferred or paid out for any other not otherwise, State of Utah: redemption date by publication of an If all of the Bond and 1975 Water Revenue affecting the issue thereof has been duly complied with; that this Bond and the issue of which it forms a part does not exceed any limitation prescribed by the Constitution and laws of the State of Utah; that twelve percent ( 12) which deemed. is of the net revenues to be derived from the operation of the appropriate notice one time in a newspaper of general circulation in Salt Lake City, Utah and by mailing a copy of the redemption notice at leaat thirty (30) days prior to the date fixed for redemption to the original andor registered holders of the Bonds to be re- its qualified as a depository of public funds under the laws of the the date fixed for redemption and shall be made without penalty or additional interest or charges. Notice of the exercise of the right of the Issuer to redeem any bond is to be given not less than prior to the be paid and of law inclusive, which mature duly hare happened, and have been done and that every requirement System, including days to between the Issuer and the issue of which 3or.d and after January 1, 1987, on January 1, 1986 and on any principal and interest payment date thereafter. Any redemptions of any of the bonds of this series shall be at a price equal to the principal amount of each Bond so redeemed and accrued interest thereon to (30) shall Bond any agent of the Issuer of It is . before January 1, 1977, in the event there are bond proceeds remaining at the time the said acquisition and construction is completed and, in any event, to redeem in inverse numerical order thirty this (and each of the coupons attached hereto are) Bond the United of America, Farmers Home Administration (the "Government") Issuer further reserves the right, at its option, to redeem in inverse numerical order any or all of the bonds held by holders other than the Government prior to maturity at any time , both on of the coupons attached hereto) shall be a good discharge to the Issuer for the same. The to interest and the Issuer or to States bonds numbered the Issuer and any agent of the this bond (and of any of such or any subsequent holder thereof and free from any claims of ownership by any such holder; and (d) the surrender to the formity with the Constitution and laws of the State of Utah. The Issuer reserves the right, at its option, to redeem any of the outstanding bends of this series prior to maturity at any time any of the (b) setoffs, or crossclaims con- then due on dated Bonds, the bearer of transferable free 11, Utah Coda Annotated, and under and by virtue of and in treat may principal of extensions to the Issuer's Title 1A Issuer coupons) as the absolute owner thereof for all purposes and shall not be affected by any notice to the contrary; (c) the part is Issued for the a to bearer; ment payable , under the authority of the Utah "Sy stem") Act, Chapter 1953 i as amended, , 23 purpose of paying part of the cost of construction and and ' This Bond and tha of the provisions of said resolution. issue of serial bonds of which authorized October on the funds stated in said interest being the acquisition and construction shall and every holder hereof (and every holder of the coupons hereto attached) by accepting the same, agrees with the Issuer and every sub- owner shown on the registration books of the Issuer) (office of the Treasurer of the Issuer). This Bond is one of an authorized issue of serial bonds of like date, term, interest rate and effect except DOLLARS and out of 1975 (i) Of the amounts allocated to the 1975 Subordinate Bond Sinking Fund there shall be allocated to a established on the books of the Municipality known as the"197S Subordinate Bond Account" such amounts as will made fund shall be used solely for the purpose of acquiring and as each becomes due. Include the following paragraph if serial bonds are issued in bearer form. Include words in parenthesis if coupons are attached.) thereafter (upon presentation and surrender of the attached interest coupons as they severally become due) . Both principal and interest on this bond shall bs psysbls in lawful money of the United States of America at the of the registered percent twelve revenues to pay the principal and day of January of each year (address collect reasonable rates, fees or charges and for service furnished by or through the System, including all extensions and improvements thereto hereafter constructed or acquired by the Issuer and will collect and account for the revenues to be received for such service, and will set asido first and of Mantua, Box Elder County, Utah (the "Issuer"), will to the holder hereof the amount shown hereon in lawful money of the United States of America at the place, in the manner Section 7. hereof, shall mature annually on January 1 of each of the remaining years of the original term of this bond, shall be the conversion is callable for redemption Bond and provision for such redemption Town end it Bond Sinking Sinking Fund". pay the Issuer by transfer.) fund shall be deposited 4 when the called unless the , Troasuier of Issuer a part are limited obligations of the Issuer end are payable solely from e special fund designated the "Town of Mantua 1975 bonds which may be issued bond, as provided has been so prior to the transfer to euch holder has and each such holder hereby releases the Bond This Bond and the issue of bonds of which SECTION hereinafter mentioned day of January, 19 11, Utah Code Annotated, (Interest is payable only at the piece of been ascertained Representative of Holder first the authority of tho Utah Municipal thie bond prior to its transfer to auch holder and etch euch holder hereby acknowledges that the actual unpaid interest ' Brigham City, Utah October 30, 1975 Thursday, times herein referred to as the On 23 BOX ELDER JOURNAL, This coupon and said bond are issued under the Bond dua on Authorised trans- name of the made on due. Treasurer of Issuer registered in the llncludo the followinq paragraoh only if the aerial bond is to be in bearer form without interest coupons attached. f $ , provided of Monthly Installment installment such in may final lesser or the monthly that, amount as to of principal the balance is pay necessary greater interest then remaining of be issued to and COUPON Water Revenue Subordinate feree.) Amount and shall the Issuer and will Bond by Sura written instrument transfer satisfactory to the Xasuer, duly executed by the registered owner or his attorney duly authorized in writing thereupon a new bond in the same form as this a INTEREST only'if the serial bonds are issued with interest coupons attached. (This bond shall be registered as to principal and Interest in the name of the initial purchaser and any subsequent purchasers in an appropriate book in the office of the torn Clerk of the Iasusr, who shall be the Bond Registrar. This Bond is 'transferable only upon said book, by notation thereon, by by the Registrar) Thit out penalty or additional interest ox charges. Ilncluda the following paragraph only The (a) the System to and rates for all service supplied by all users thereof shall be reasonable just, taking into account and consideration the value of the System, the cost of maintaining and Qpcratinq the System and the amounts necessary cost and for the retirement of the Bonds and the accruing in- terest thereon including the amounts necessary to maintain the funds and accounts hereinabove established. There shall be no free service and all users, including the Municipality, shall be charged for any service furnished by or through the System, including all extensions and improvements thereto For all users hereafter constructed or acquired. of water service supplied by the Issuer who are also users of sewer service, a single bill shall be rendered for both of such services and provision for the suspension of water service to any user made delinquent in the payment of charges for water service or sewer service or both. who shall become (Continued on following Page) |