OCR Text |
Show - ft f ton to r 'a-t- V J- 'V - J X. ' v , fr 4, y v J ? k A1 DHKtt Lay bond issue By Joe Deseret News staff writer T'ir:4sr.: ere prnprry redeemed and there is no need for fer Jie hissing dixurn fsits, I" a public statement dur-ih- g todays City Commission meeting, Phillips said that although the $853,000 orh of municipal bonds have never been found, the bank has Omrr.'issiesicr Jeimbigs Phillips jr today SsLed tli.it the nusiiug IrjTid business be lad to rest, because of a bank affidavit bearing the city of liability certified that the rest, iV bonds concern. The city issued the $S50.mlO is bonds for expenses reialeu to libraries, the cemetery, satiiUi strwer eonstraction and buildings. Typically, such bonds are sold through banks to local, and some-timout , investors. Every quarter, the city treasurer deposits money in a bank trust account to covt principal and interest on bonds that are coming due. The bonds in question rs1? due in 1574. When the bond expiration date arrives, the bond holder tases the document to the bank and urns it in. The bank pays the border me principal es MOTHER'S DAY SPECIALS WASHABLE TERRY SLIPPERS SNaiKj? 'iOHa ! 2.39 VALUE I interest due him, punches" or perforates the document to show it has been redeemed, and then .. returns the document to its issuer the city. Financial experts said it PER PAIR )! and says possible, particularly if the person seeking to caa the document were well known to the bank, such as are certain city and county finance officials They also said neh documents could be used under certain circumstances I as collateral for loans After the bonds were reported missing and a search launched. City Treasurer Joe FakJer located two large envelopes containing other old municipal city bonds in the county treasurers office. It is a mystery how the papers arnved at the county office, since me address cm the envelopes says city treas- urer's office The Deseret News found that some of the bonds in the of-fi- he were found city in the county treasurers Lambourne added office), Meanwhile, County Auditor Gerald R. hansen, who had boon a bed by city officials to look for the bonds, said his staff found nothing in a search of office storage areas and vaults. Fakler, who was assistant " envelopes, It's cthat said. mysterious" bonds county treasurer in 1970 when the two envelopes containing bonds were mailed, said he a has no recollection of receiving tiie documents in his which were mailed m 190, had not been punched, which means they costs wili Sandy okays connection the fee increasing ary, the rf the connet ordinance on Coder the ordinance. water fees with were not perforated to show they had been redeemed. Former County Treasurer Sid Lambourne told the Deseret New he and his former e'uet deputy. Boh Hall, went through the county treasurers records last year before leaving office. He said no ciy bonds were m the oft ice then Misdirected mail always was forwarded- - to the proper woidd be difficult for a bond already cashed in. but not perforated, to be cashed a second tune. But they said it would be office. NFVyt, (Hi iirSOAv, mmY H, fee with size the subdivider or developer will pay all water eonneetfn fees iu the approved housing plat when the Subdivision Is approved by the city officials. UUM. new ATTV WIDE & i EXTRA-WID- SHOES E I Otuiuoitic and requiring al) subdividers and land developers to Pay water connection fees upon plat approval was passed here Wednesday k Cool Shoe .Fashion by WELLCO wires iligiit. City administrator Jim Ash said in the past deveiuoers and subdiv iders had sulxivi- sion plats approved, and the city was paid the water connection fee by the home buyer. Under this new plan, we will be paid in advance and can keep ahead of needed water improvement programs The connection fee wiii be added to the purchase price of the home by the developer. All the home owner will have to do is come into the city hall and pay a meter fee, Ash said. The administrator said tw' wires Sires 5 to 12 ! j yfan Mesh Uppers, Oisfiion Foam Base, leadie- Sole. 4 Rone & Whiiq - IUEEN FASHIONS 3M-41S732 South Main 2235 Washington in Qgtten 0 FANCY LACE CONTROL TOP PANTY HOSE 5.00 VALUE PER PAIR QUEEN SIZE PANTY HOSE REG. 69c EACH 1 g 3 PAIS PRICES IFFICTIVE h S8, , 5 10 ONLY 5 PANTYHOSE WHOLESALE 270 SO. State 157 3900 So. EL SLC SLC mm, OPEN DAILY 10 to 6, SAT. 10 to 5 rii p III i;!1. liili! -- -' ' ' A- ' 't--J Hjjir - JL l I uQ fill lW!) .Oi y f i , I j V f W'-i I , TTJ' r - , , i i DECORATIVE BARK MUGH0 PINE Li!! 3 cubic tael of redwood bark adds a touch ot elegance to Dense mugho pinos make beautiful addibons to high in 2 gallon containers. any landscape. 2 Healthy and ready to grow mu your yard Use rt around Iroes shrubs flowers and -- 10-1- r' V re & 3 CUBIC FEET AiTKvx. I y- is i! fr - TO i Cl ORGANIC x - -- - Ml 1, A -- -- r- Why Hul 7uik fi ' f j XLrt to rT.7 - .4 L. SO Sb 59-L- mPSGSSi rw- ' aUSOSr - ra bag. B. BAGS E ftTy-RfrANU- i fww, mmm STEER MANURE nm 1 S toet u natural .tear manure is odoriesw and ready to apply to your lawn and garden areas Regular use keeos your plants tonktng tush and green. v 'ii- - Tie- - Z. , ts "Svl !giwi tf jflK ' - L FERTO n ttotfw toxJ J ccntotnsr 12 toms wiS enhance Silfif--i i n Hums TAMS your landscape and increase toe value (X your property over toe years. tm iaan Siyd Ctmo partJt hr Msfta-- i Cay arid rwn rd,- -r yojimo Vtoavsr torn, wSumefcoay dij IJ 1 -- GALLON spread. Healthy - :JSLi Fedo is a new kind ot terhtszer We afl know how harmM hash clwfntoois can be to Our environment Ferto is a "back to nature sort ot tertikzar with all the nutrients your garden and lawn wit need to be lush and heakby Guaranteed analysis proves Ferto to be rich m everything plants need, inducing organic mailer. One-gallo- - ELL V5 NEW! V 1 tlS' V wrtS i W i' Says 1.5 CU. FT. vm&) - , U r fe. I wm |