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Show OlDDtAHCI N. 103 WHEREAS, on the 22nd day of November, 1949, an initiative petition pe-tition was presented to the City Council requesting the enactment of an ordinance entitled "An Ordinance Or-dinance providing for the acquisition acqui-sition of a municipally owned electrical distribution system by Cedar City. Utah; authorizing and providing for the issuance of $375,000 Electric Revenue Bonds of said City for the purpose pur-pose of defraying the cost of such acquisition and making improvements im-provements to said electrical distribution dis-tribution system; prescribing the form and other details of said bonds; providing for the collection collec-tion and distribution of the reve-nues reve-nues to be derived from the operation op-eration of said electrical distribution distri-bution system; making other provisions with respect thereto and providing for the payment of said bonds; and authorizing the Mayor and Recorder to do all things necessary to the acquisition acquisi-tion of said electrical distribution distribu-tion system, including the acquisition, acqui-sition, voting and liquidation of stock of Southern Utah Power Company;" and WHEREAS on the 22nd day of November, 1949, aforesaid, the City Council adopted said ordi-nance ordi-nance subject to a favorable vote of the qualified electors of Cedar City, Utah, voting at a special spe-cial election to be called by the City Council, and the City Coun cil at said meeting called a special spe-cial election to be held in said city on the 30th day of December, 1949, for the purpose of submitting submit-ting to the qualified electors of said city the question of approving approv-ing said ordinance; and WHEREAS, there was also submitted sub-mitted at said special election to all of the qualified electors of said city who paid a property tax in said city in the year preceding pre-ceding such election the question of Issuing $375,000 Electric Revenue Reve-nue Bonds; and WHEREAS, said election was duly and regularly held and a majority of the qualified electors of the city voting in said election elec-tion and the majority of the qualified taxpaying electors voting vot-ing in said election voted in favor fav-or of the approval of said ordinance ordi-nance and the issuance of said bonds, and said election results have today been officially canvassed can-vassed and have been declared to have resulted in favor of the approval of said ordinance and in favor of the issuance of said bonds; NOW, THEREFORE, It Is Here-by Here-by Ordained by the City Council of Cedar City, Iron County, Utah, that said ordinance is hereby ap- proved, ratified, confirmed and ' declared to be in full force and effect, and that immediately after af-ter the adoption of this ordinance this ordinance shall be signed by the Mayor and City Recorder, shall be recorded in a book kept for that purpose and shall be published in the Iron County Record, a newspaper published and having general circulation in the City of Cedar City, Utah. PASSED AND APPROVED Jan-uary Jan-uary 3, 1950. GRONWAY R. PARRY, Mayor, Cedar City, Iron County, Utah. ATTEST: ELLEN A. SIMKINS. City Recorder, Cedar City, Iron County, Utah. (SEAL) |