Show I An AlL O 0 Ordinance f To o provide funds for the purchase e and installation of an electric lighting plant to be owned and con troll d 1 by the municipality of Ephraim City and t. t a ing the form of bonds t i Be it ordained by the city council council coun coun- cil of Ephraim city Sec 1 That Chat Chat twelve thousand dollars he borrowed on the credit of Ephraim city a municipal corporation cor cor- in in the county of Sanpete in the state of Utah for the pur purpose purpose pose pos of purchasing and installing fin tn n electric light plant and system with the he necessary ary site water rights power plant appurtenances appurtenances appurtenances nances and appliances to be owned and controlled by the said city SEC 2 2 That the said baid money be borrowed borrowed by the issuance of bonds I of the said Ephraim city t the amount of twelve thousand dollars dollars dol dol- ollars ol- ol II lars said bonds to be in the de denomination denomination nomination of one thousand dollars dollars dollars dol dol- I lars each and to he bo payable le in ingold ingold ingold gold coin of the United States I Ns with ith ith interest thereon at the rate of six per percent cent per annum pay payable payable pay pay- able annually semi according to interest coupons attached to said b bonds and anci that said aid ai bonds run for fora a period of twenty years with the reservation awl and option on the part of the said Ephraim c city ty to pay the same samo at any time after ten years from the date thereof I SEC 3 Said S-Said Said bonds shall be known as Ephraim City Electric L Light Bonds and shall be dated September first 1905 and each of said bonds shall bear coupons for forthe tho the interest so arranged that the same may be detached without 1 mutilation of the bond Said coupons coupons coupons cou cou- pons shall be numbered from oneto ono one onoto to forty inclusive and each coupon coupon coupon cou cou- pon shall be for tho the sum of thirty dollars SEC SEO 4 That 4 That said That said bonds shall be signed by the Mayor and City Recorder and attested by the corporate seal of Ephraim city and tho the Mayor and aud city Recorder i are hereby authorized and directed direct direct- I ed to si sign n the said bonds on be behalf behalf behalf be- be half of Ephraim city together with the coupons attached thereto I provided however that the said I coupons may be bo be signed by having havinga 1 a f fae fac ac simile signature of the Mayor and city Recorder printed thereon SEO SEC 5 Each 5 Each of said bonds sh shall ll be bo in the following form viz UNITED STATES OF c. c t CIc 1 v J. J r 1 o a d i 1 STATE OF OP UTAH N Number um ber Dollars Ephraim city Sanpete county Utah Authorized by Chapter 18 Revised Re Statutes of the State State oJ of Utah 1898 Issued September first 1905 On the first day of September A A. D. D one nine nino hundred and twenty five Ephraim city a municipal corporation of Sanpete county State of Utah promises to pay to bearer the sum of one thousand dollars gold old coin of the United States of America with interest thereon from date until paid at the rate of six per cent per annum payable semi annually on th the first day of each March and September ensuing the date hereof hereof hereof here here- of on presentation and surrender of the annexed interest coupons I Both principal and interest are I payable at the State Bank of Utah Salt Lake City ity Utah The said city reserves the ri right ht to redeem this b bond nd at any time after ten years from the date hereof hereof It is hereby represented corti tied fled and stipulated that all acts and things essential to the validity of this bond have been done and that every requirement of law af affecting affecting affecting af- af the issue thereof has been duly and fully complied with and that the total amount of this series series ser series ser ser- ies of f bonds is within the debt limit prescribed by the constitution constitution constitution I Ithe tion and laws of this state that the tho faith and credit of of Ephraim city are hereby irrevocably pledged to tho the punctual payment of the principal and interest of this bond according to its terms This is one of a 1 series of twelve bonds issued by said city o of the same tenor and date of the denomination denomination denomination de de- nomination of one ono thousand dollars dollars dollars dol dol- lars numbered from one to twelve both inclusive and are issued for forthe forthe forthe the purpose of furnishing the said city with artificial light In testimony whereof the said Ephraim city of Sanpete county I State of Utah has has' caused these presents to be signed by its Mayor and city Recorder and its corporate corporate corpo corpo- rate seal to bo be affixed this first day of September A D Done one thousand thousand thousand and nine hundred and five C. C R. R DORIus Mayor of Ephraim Ci City ty Attest Attest Attest- J JAMES AIlES FROST Recorder of f Ephraim City L. L I r rf f t l I J j l IY t. t SEC 6 6 lt It is farther further ordained that for the payment of of the interest interest inter inter- rest r- r est on the said bonds as the same sam e shall become due and payable the sum of three hundred d and sixty dollars is hereby appropriated on OE the first days of f March and September September September Sep Sep- in each ach year year f durin during the time the said bonds shall continue as an obligation of the said city p payable out ont of the revenue derived from the said electric lighting plant and system or if th the same same be insufficient for that purpose then out of the general fund of the city T It It is further ordained that the net revenue derived fro from n the operation of the said electric li lighting plant and system or s so much thereof as may be necessary be set apart as a sinking fund to meet the payment of the said bonds as the same shall mature mature mature ma ma- ture provided that nothing herein here her in contained shall be construed as prohibiting the said city fro from in making f kiI g any other provisions provisions' f for forthe r rth th the payment of the said bonds in incase case cae the said net not revenue derived from the operation of the said plant be insufficient for the redemption redemption redemption re re- of the said bonds SEC SEO 8 All 8 All the agreements recitals recitals re- re and representations co contained contained con con- in said aid bonds bonis and coupons and all recitals and r representations representations presenta- presenta presentations contained in this ordinance are fully considered and understood understood understood under under- stood and it is hereby ordained that the same lire ire are the agreements recitals and representations of Ephraim city SEC 9 Upon 9 Upon the execution of the said bonds by the Mayor and city Recorder the same shall oe De delivered to the to-the the city treasurer of said city who is hereby charged charged upon hi his official bond for the Ine e said safe safekeeping seeping keeping of the same as well well well-as as the proceeds of the the sale ale thereof Upon rec receipt i f thereof the city treasurer is hereby authorized to sell the same to the tho State Stat Board of Land Commissioners of the State of Utah for the sum um of 48 and the proc proceeds eds of such sale salo shall be pe hold held by said treasurer in a special fund to be known cnown as The Electric Electrio Li Light ht Fund und and shall be used and expended expended expended ex ex- only for carrying out the purposes of thi ordinance SEC SEO 10 An 10 An ordinance pas passed sod July entitled An ordinance j ordinance nance pr providing for the tho issuance I II I and sale sale of the Ephraim Ephraim- city i 1 X t i L Hi L l r. r l. l J b H. H 3 f i Electric Li Light ht Bonds is is hereby hereby l t repealed J SEC SEO This 11 11 This ordinance shalL J t take effect effect upon its approval a and d f S v publication V Passed this fourth day of September Sep Sep- t 1 A AD D 1905 t. t Jr App Approved oyed thi this fourth day or of J September A AD D 1905 i. i C. C R. R DORIUS I tt Mayor of t- t P t Ephraim City If Attest Attest- I J A j I. I J JAMES F FROST I AMES 1 ROST r J. J N I J I I City Recorder f J A Co i OJ Jt A i j |