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Show 1 I BLANDINQ OUTLOOK LEGAL NOTICES of (Form Jmm, 1954 bonds and the accrued Coupon) lntereat and 16, I960 prior redemption said bonds, such fund and account to be continuously secured by direct obligations at all times at least equal to the moneys therein and to be used solely for the payment of said 1954 bonds (principal, Interest and premium) on the first day of August, 1959. The sale of the remainder of said bonds herein authorised, in the aggregate principal amount of $600,000.00, premium on Coupon Ho. tori ian KM $25.00 $16.25 to which this such remainder being bonds numbered . talted State a of America, without deduction for exchange Lake charge a, City, Utah, at the Flrat National Zlona AND E SIXTEEN AND j (unloas the coupon TWENTY-FIV- f 19 la attached haa bean called for Kwdemption,) Ae City of Blending, In the County of San and Stae of Utah, will pay to bearer In lawful money of collection glt tot day of October, NO100 25100 DOLLARS Bank In , DOLLARS aolely from and aecured by a pledge of two funda created from the net revenues derived from the operation of the Joint water and aewar of aald City, auch amount electric, ayatem being alx nonthe1 lntereat on Ita City of Bland lng Joint NO. (FacslmlleSlgnature) f 1 I ! j (Insert In coupons maturing on October 1, 1969, thereafter, attached to bonds numbered 187 to 800, both Inclusive, maturing on and after April 1, 1970.) Section 9. That It la hereby determined and re- cited that the period of usefulness. of the facilities to be acquired with the proceeds of the bonds herein authorised la not leaa than twanty-fiv- e years from the date of aald bonds, l.e., from the first day of April, 1959. and 168-20- 223-26- 6, 5, 284-33- 1, 352-40- 5, 1-- 427-48- 6, 67, 74-1- purchasers of the bonds herein authorised, however, shall In no manner be responsible for the application or disposal by the City or by Its officers of the Section 10. E. 510-57- designated 5, and 705-78- 5, Section 12. 6, all Inclusive, . T mK.Sa-.- - .??26rM. In the aggregate principal mL 2m2QP ' ill inciuilve, ' Mount of 8 VA. W'1 t 'tfys . lit accordance with said proposal, shall be at par and accrued interest, if any, from the date of ' said bonds to the data of delivery, and the payment of said ! principal amount shall be lamwdlately deposited In a special j fund and separate account, along with moneys from the Blending City Sewer, Power and Revenue Bond Sinking Fund, and other amount to pay Bond Mo. 3 of said pfoper sources, sufficient In 1 . Section 11. That for the purpose of this ordinance the system shall be opereted upon a fiscal year basis commencing on the first day of April in each year and ending on the 31st day of March of the succeeding year. In the aggregate principal amount of $600,000.00, have been and hereby are sold to Kir chaar, Ormsbee & Wlesner, Inc., of Denver, Colorado, at the interest rates herein set forth. The sale of said bonds numbered 1- - 38 . both Inclusive, In the aggregate principal . 'in accordance with said buyer's amount of $ 38a00G(;C accepted proposal, shall be at par and accrued Interest, If sny, from the date of said bonds to the dsta of delivery, and the payment of said principal amount shall be Immediately applied to the refunding and payment of the bonds numbered 'Vy inclusive , la 'said aggregate principal amount of 33'0W ?)! of the City's outstsndlng Electric and Water Revenue Bonds, dated August 1, 1947, In the aggregate principal amount of to be redeemed as aforesaid on said first day of April, 1959. The sale of said bends herein authorised numbered ,reATT 602-67- The funds derived from the sale thereof or of any other funds herein 119-15- 3, 05, and A . The Mayor and City Recorder are and directed to prepare and execute said bonds hereby authorised When as herein provided. aald bonds have bean duly exccutad and sold, the City Treasurer shall deliver them to the lawful purchasers thereof on receipt of the agreed purchase price. Bonds numbered 705785 ce Section 10. A. Section 10. B. ZS2M0St' Section 10. C. After said outstanding 1947 and 1954 bonds, both principal and Interest, are paid In full, any remaining moneys In or withdrawn from any sinking fund theretofore created by ordinance or otherwise for the payment of said 1947 and 1954 bonds shall be deposited into the Reserve Fund hereinafter created by Section 12 of this ordlnence. All other remaining moneys heretofore or hereafter derived from the operation of the system or of any of the facilities comprising a part thereof shall be deposited In the Income Fund hereinafter creeted by Section 12 of this ordinance and distributed as therein provided. All moneys, if any, received as Section 10. D. accrued interest at the time of delivery of said refunding and Improvement bonds from the sale thereof shall be deposited Into the Bond Fund hereinafter created by Section 12 of this ordi-nen- BOND j fiQ2-fi75.i.-.-..; ', all inclusive. In the aggregate princi . In' accordance with said buyer's pal amount of $36fli600afl0 accepted proposal, shall be at ninety-si- x per centum (961) of the face amount thereof and accrued Interest, if any, on the full face amount thereof from the date of said bonds to the date of delivery, and the payment of said sale price as paid on delivery shall be deposited in the City of Blending Joint Electric, Water and Sewer Refunding and Improvement Revenue Bonds, Series April 1, 1959, Construction Account, and the moneys so deposited shall, without delay, be applied solely to the Improvement of the system as herein provided. Water and Sewer Refunding and Improvement Revenue Honda, Serlea April 1, 1959, and bearing i v Jte7Mafie ' Electric, I -- 300331 That so long as any of the bonds here- by authorised shall be outstanding, either as to principal or Interest, all revenues derived from the operation of the system, shall be deposited into a bank account to be known as the "City of Blending Gross Income Joint Electric, Water and Sewer Ftmd," herein sometimes referred to as the Income Fund. System The following payments shall be made from the Income Fund: A. shall Firstly, as a first charge thereon, there be set aside each month aa an operation and maintenance fund such reasonable percentage of the Income Fund as the City Council shall determine to be necessary for the proper operation and maintenance of said system, and said moneys shall be used solely therefor. Any surplus remaining at the end of the fiscal year and not needed for operation and maintenance purposes, shall be transferred to the Income Fund and be used for the purposes thereof, as herein provided. B. Secondly, and subject to the aforesaid provisions, from any moneys remaining In the Income Fund, from the net revenues, there shall be deposited Into a bank account to be known as the "City of Bland lng Joint Electric, Water and Sewer Refunding and Improvement Revenue Bonds, Series April 1, 1959, Interest and Bond Retirement Fund," herein sometimes referred to as the Bond Fund, the following: l.e., 1. Monthly, coanmnclnq on the first day of of (he amount necessary to April, 1959, pay be name maturing installment of interest on 61 eg beads authorised hereby. me r t one-six- th if |
