Show AN ORDINANCE to provide funds for the cons construe dign of A system of water works ta 19 supply the town and an d the inhabitants thereof with water prescribing the form of bond to de be issued and th manner mannor of selling the same section 1 whereas on the th day of june 1911 by order duly entered for that purpose the town board of trustees did by resolution order a ell election actton tor for the purpose of voting upon the question of incurring a bonded indebtedness elness in the sum of seven thousand 00 dollars for the purpose of providing funds tor for the construction of a system of water vater works to supply the inhabitants thereof and the town toa with ith water nater and whereas the said election was wai regularly held in n the alth day of august 1911 and the electora electors of the said town authorized the issuance of tho the eald said bonds now therefore he ile it ordained by the town board of trustees of the town of scofield in the county of carbon state of utah sec see 2 that seven thousand 00 ci dollars ollars be borrowed upon the credit of the town of 0 scofield a municipal corporation of the county of carbon state of utah tor for the purpose of providing funds for the construction of a system of water works to supply the town and the inhabitants thereof with water which system Is to be and controlled by the said town sec see 3 that the money be borrowed by the issuance of bonds of th the 0 sa said 1 d town of scofield in the amount of seven thousand 00 00 dollars eald sald bonds to be of the denomination of five hundred 00 dollars each and to be payable in gold coin of the united states of america with interest at the rate of five per per annum anslum payable semiannually semi annually according ting to the interest coupons attached to said bonds and that said bonds run for a period of twenty beirs with the reservation and option on the part of the said town to redeem the same or any part thereof at any time after ten years from the date thereof sec 4 that the said bonds sha shall 11 be known as scofield town water bonds and shall be dated april 1912 and each of said bonds shall bear coupons tor for the interest so arranged arran geil that the same may be detached without mutilation of the bonds each coupon shall be tor for the sum suni of twelve lind und one halt half 12 50 dollars sec 5 that the said bonds shall bo be elined by the president and attested by the clerk with the corporate seal of scofield ld town ton thereto affixed and the president and clerk are hereby authorized and directed to sign the said bonds in behalf of the wild s ild town toan of scofield together with the coupons thereto attached sec see 6 that each of tha said bonds shall bo be in the form following to wit U UNITED OF AMERICA STATE OP OF UTAH no 00 scofield town 0 the county of carbon state of butth authorized by chapter 24 of title 13 of the compiled laws of utah 1907 and all supplemental and amendatory acts and pursuant to and in conformity with sections 3 and 4 of article XIV of the constitution of the state ot of utah issued april oth 1912 on cla the twentieth tient leth day of april A D 1 la 12 toyn toy n a municipal corporation of the county of carbon state of promises to pay the bearer the sum of five hundred dollars gold coin of the united states of america with interest thereon at the rate of five per por per annum pa able semiannually semi annually on the twentieth day of each october and april ensuing the date herec upon pres presentation 0 and surrender of tho the annexed interest coupons both principal and interest are payable at the utah national dank bank salt lake city utah said town reserves the right to redeem this bond at any time ater alter ten years from the tile aiato lerent it Is hereby represented certified and stipulated that all acts and things essential to the validity of this bond have been boen done and that every requirement of law affecting tho the issue hereof has been duly and fully compiled complied with and that the total amount of this series of bonds onca la Is within the debt limit prescribed by the constitution ind sad laws of this state and that the faith and credit ot of scofield town are hereby irrevocably pledged to the punctual payment of the principal and interest of this bond according to its terms this is one of a series of fourteen bonds issued by said town of like tenor and date and of the denomination of five hurdled dollars and are issued tor for the purpose of providing funds for the construction of a system of water works for supplying UP the town mid stud the inhabitants thereof with ith water in fitness whereof the sald sc 0 field town of carlon carloa county bah has caused ahma presents to be signed by its president and clerk and its corporate seal to be affixed I 1 this twentieth day of april A D 1912 attest president prele n 7 town 0 wn hoard oard of trustees scofield town carbon county utan clerk town ton board of trustees scofield town fron carbon county utah SEAL the Int interest coupons attached to said bonds shall be substantially in the form fol following loning to wit 12 1260 50 12 60 scofield town carble county I 1 tab tah promises to pay to the bearer hereof the sum of twelve and one halt half dollars at the utah national bank salt lake city utah on the twentieth day ot of 1 19 being interest due on that day on anater V ater bond no clerk president sec 7 all the statements representations covenants and agreements contained in tho the said bonds and coupons and all the recitals an representations contained herein are hereby considered and understood and it Is hereby ordained and declared that the eald said statements representations covenants agreements and recitals are the statements representations covenants agreements and recitals ot of the said scofield Scott eld town bac 8 that for or the payment ot of the lat interest erst on oa tho said bonds as the same shall become due the sura sum ot of one hundred seventy five 75 00 dollars N 1 hereby ampro pi fated on the twentieth day of each ench october and march ot of each year during the time the said bonds shall cont continue lano as an obligation ot of the said town payable out ot of the general fund ot of tho the said town sec see 9 that upon the execution ot of the tho said bonds by the president and clerk of the said town the sime shall be delivered to the treasures roi ot of the said town who Is 1 hereby charged upon his official bond for the safekeeping safe safo keeping ot of the sime same as well as the proceeds derived from the sale thereof sec 10 that the treasurer is hereby authorized to sell the said bonds to the state of utah at the par value thereof with accrued interest and the proceeds derived from the said sale shill bo he deposited by the treasurer to the credit of the water works fund tuna sec 11 that althen ten anys of sale of the bonds provided for by this ordinance the treasurer shall make a verified statement to the recorder showing therein the lamount amount of 0 the proceeds of the said sale when hen and to whom sold and the recorder shall kep a record of all bonds issued ind ills posed of b the treasurer also when presented for redemption tho the amount due the nimes of the persons surrendering the same sec 12 that at any time after ten years from tho date of the issuance of the said bonds and when there Is money sufficient in tho the sinking fund to redeem ne ie or more of the said bonds the board of trustees inay by resolution direct the treasurer to cause to be published in a newspaper published at salt lake city utah tor for a period of ten days a notice that there has been set aside from the mone morle in la the sinking fund provided tor for the payment of the said bonds money sufficient to pay aad and discharge number of bonds mentioned in notice said notice shall state the number of bonds in la their numerical order commencing at the highest number outstanding and giving the date when they shall be paid and if such bonds shall not be presented for payment and cancellation at the expiration of the time mentioned in the notice then such fund shall remain in the treasury to discharge tuch euch bonds whenever presented but they shall draw no interest after the date mentioned in the notice before such bonds shall be asid they be presented to the recorder who shall endorse thereon the amount due and hall write across the face of each of said bonds th tho 0 date ot of its surrender and the n name ame of the person surrendering the same aee 13 that the R reorder corder shall endorse on each of said sain bonds his certificate that the said bend L and and the entire issue thereof la Is mi within the lawful debt limit of the said scofield town and Is issued according to law and shall sign the same in his ills official character sec 14 that this ordinance shall shau take effect and be in force ten days after the date of its passage approval and publication PAUSED PASSED AND ADOPTED by the board of trustees of scofield town carbon county count utah this ath day of 0 april A D 1912 ATTEST W D STILLMAN clerk NEL NEIL at MADSEN MAD SEy Pro president sidon t this diy daiy of arll A D 1912 NEIL at MADSEN president |