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Show ORDINANCE AN ORDINANCE RATIFYING, APPROVING AND CONFIRMING ALL ACTION, PROCEEDINGS, MATTERS, AND THINGS CONCERNING CON-CERNING SIDEWALK, CURB AND CUTTER, AND STREET LIGHTING DISTRICT NO. Ill IN CEDAR CITY, UTAH; PROVIDING PROVID-ING FOR THE ISSUANCE OF SPECIAL IMPROVEMENT llONDS; PRESCRIBING DETAILS IK CONNECTION THEREWITH, APTD DECLARING AN EMERGENCY. EMER-GENCY. WHEREAS, the City Council of Cedar City, in the County of Iron and State of Utah, has heretofore taken the requisite proceedings for improving Main Street on both sides between 200 North Street and Center Street in said City, by constructing sidewalks, and curb and gutters, and incidental inci-dental improvements in what is commonly designated "Sidewalk, Curb and Gutter, and Street Lighting District No. Ill," more particularly described in an ordinance or-dinance of said City, passed and approved on the 27th day of August. 1951. and thereby has validly levied a special tax and assessments, in the amount of $30,473.86, upon the blocks, lots, or parts thereof, and pieces of ground, specially benefited by improvements, and fronting or abutting upon or adjacent to said street, to defray the cost of constructing and making said Improvements, all in accordance with the statutes of the State of Utah providing therefor; and WHEREAS said special tax was made payable in ten equal annual an-nual installments on or before the 31st day of August in each of the years 1952 to 1911, both Inclusive, bearing Interest at a rate or rates of not less than six per centum per annum, as provided in said ordinance, or, in the alternative, at the option of the owner or owners of the property prop-erty so assessed, one or more of such installments in the order payable, or the whole tax, was made payable without interest, commencing the 1st day of September, Sep-tember, 1951, and on or before the 15th day of September, 1951; and WHEREAS, the City Treasurer of said Cedar City has given the requisite notice of the levy of said special tax; and WHEREAS, there remains unpaid un-paid of said special tax and assessments as-sessments by the property owners own-ers of said blocks, lots, or parts thereof, the sum of $16,804.75; and WHEREAS, said Cedar City has determined, and hereby determines deter-mines to Issue its special improvement im-provement bonds in the sum of SlGRTiO.OO. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL COUN-CIL OF CEDAR CITY, UTAH: Section 1. That all action, proceedings, pro-ceedings, matters and things (not inconsistent with the provisions pro-visions of this ordinance) heretofore here-tofore taken, had and done by Cedar City and the officers of said City concerning the construction con-struction of sidewalks and curbs and gutters, and other incidental Improvements on Main Street on both sides between 200 North Street and Center Street In what is commonly designated "Sidewalk, "Side-walk, Curb and Gutter, and Street Lighting District No. Ill" within and for said City, the creation cre-ation of said District, the levy and collection of a special tax and assessments to meet the cost and expense of so improving said street, and the issuance of special improvement bonds therefor, there-for, be, and the same hereby is, ratified, approved and confirmed, Including, without limiting the generality of the foregoing, the letting of contracts for the construction con-struction of said improvements, and the apportionment of the costs and expenses of said im-iprovements im-iprovements upon the blocks, lots, or parts thereof, and pieces of ground fronting or abutting or adjacent to the street in said 'District, as set forth in the assessment as-sessment roll heretofore made for said District, and the sale of said bonds to Lincoln Ure & Company, Com-pany, Salt Lake City. Utah. Section 2. That Cedar City and the Treasurer thereof be, and hereby are, authorized, empowered empow-ered and directed to receive, collect col-lect and enforce the payment of all of said special tax and assessment as-sessment made to defray the cost of acquiring said improvements and all installments thereof, all Interest thereon, and all penalties penal-ties accrued, in the same manner and at the same time or times In the manner prescribed by the ordinance of said City, duly passed and approved on the 27th day of August, 1951, and all other oth-er ordinances or laws thereunto appertaining; and to pay and disburse said special tax and assessments, as-sessments, the installments thereof, the interest thereon, and penalties thereto, to any person or persons lawfully entitled thereto. Section 3. That if the owner of any lot or parcel of land assessed for said Improvements shall be delinquent for a period of sixty (60) days in the payment of any assessment, installment or interest inter-est due, it shall be the duty of the City Council to cause such delinquent person, if known, and Lincoln Ure and Co., Salt Lake City, Utah, as representative of the bondholders, to be Immediately Immed-iately notified pf such delinquency, delin-quency, in writing, and if such delinquency shall not be paid I within ten days after such not-ice not-ice shall have been given, then said Council, at its own expense, shall forthwith foreclose the special spe-cial assessment lien against the property or properties wherein the delinquency exists in the method now or hereafter provided provid-ed by statute for the foreclosure of mortgages on real estate, or otherwise as provided by law, and at such sale said property shall be bought in by the City for not less than the amount of the balance due on the assessment, assess-ment, principal, interest, penalty, penal-ty, and costs, if there be no other oth-er purchaser therefor. If said foreclosure be not promptly filed and prosecuted, then any bondholder bond-holder may file and prosecute said foreclosure action in the name of said City. Section 4. That for the purpose of defraying in part the cost and expense of making and otherwise other-wise acquiring said improvements, improve-ments, there be issued in the name of Cedar City bonds designated desig-nated "Cedar City, Utah, Special Improvement Bonds, Sidewalk Curb and Gutter, and Street Lighting Districts No. Ill," in the aggregate principal amount of $16,850.00, consisting of 39 bonds numbered from 1 to 39, both inclusive, in-clusive, which bonds shall bear date as of the 1st day of September, Sep-tember, 1951, and shall bear interest in-terest at the rate of ( ) per centum ( ) per annum to maturity, payable annually on the 1st day of September In each year, as evidenced by Interest coupons attached to said bonds. If, upon presentation at maturity, payment of any bond Is not made as herein provided, interest inter-est thereon shall continue at the rate of eight per centum (8) per annum until the principal thereof is paid in full. Said bonds and the coupons thereto attached shall be payable in lawful money mon-ey of the United States of America Amer-ica at the office of " the City Treasurer of Cedar City, Iron County, Utah. Said bonds shall be numbered, shall be in the denomination of, and shall mature ma-ture serially, without option of prior redemption, in regular numerical nu-merical order on the 1st day of September in the years indicated as follows: Bond Bond Year Amounts Numbers Denomination Maturing Maturing 1 $1,000.00 1952 $1,600.00 2 500.00 1952 3 100.00 1952 4 1,000.00 1953 $1,650.00 5 500.00 1953 6 100.00 1953 7 50.00 1953 8 1,000.00 1954 1,700.00 9 500.00 I9r4 10 & 11 100.00 1951 12 1,000.00 1955 1,700.00 13 500.00 1955 U & 15 100.00 1955 16 1,000.00 19:56 1,700.00 17 500.IX) I9!jfi 18 & 19 100.00 1956 20 1,000.00 1957 1,700.00 21 500.00 1957 22 & 23 100.00 1957 24 1,000.00 1958 1,700.00 25 500.00 1958 26 & 27 100.00 1958 28 1,000.00 1959 1,700.00 29 500,00 1959 30 & 31 100,00 1959 32 1,000.00 I960 1,700.00 33 500.00 I960 31 & 33 100.00 I960 36 1,000.00 1961 1,700.00 37 500,00 1961 38 & 39 100.00 11 Said bonds shall be fully en-gotiable en-gotiable and shall have all the qualities of negotiable paper, subject to the payment provisions provi-sions stated herelng and the holder or holders thereof shall possess all rights enjoyed by by holders of negotiable instru- I ments under the provisions of the Negotiable Instruments Law. Said bonds shall be signed by the Mayor, countersigned by the City Treasurer, and attested by the City Recorder and Ex-of-flcio City Auditor of said Cedar City, and its corporate seal shall be affixed to each bond. The coupons attached to said bonds shall bear the facsimile signature sig-nature of the City Recorder and Ex-officio City Auditor, which officer., by the execution of said bonds, shall adopt as and I for her signature the facsimile thereof appearing on said coupons, cou-pons, and when said bonds are executed, said coupons shall constitute con-stitute the binding obligations 'of said City for said interest. Said bonds and coupons bearing the signatures of the officers in office at the time of the signing sign-ing thereof shall be the valid and binding obligations of Cedar City, notwithstanding that before the delivery thereof and payment pay-ment therefor any or all of the persons whose signatures appear thereon shall have ceased to fill their respective offices. Section 5. That said bonds and the interest thereon are payable solely out of, and as security for such payment there is hereby pledged, a special fund designated designat-ed the "Cedar City Sidewalk, Curb and Gutter and Street Lighting District No. Ill Fund," containing the receipts derived by said City from the special tax and assessment levied upon the property included in Sidewalk, Curb and Gutter, and Street Lighting District No. Ill of said City, provided, however, said payment is additionally secured by a special improvement guaranty guar-anty fund heretofore created by ordinance. Said City shall not be held liable for the payment of any of said bonds, except to the extent of the funds created andi received by said special tax levies lev-ies and assessments and to the extent of its special improvement guaranty fund; but said City i shall be held responsible for the j lawful levy of all special taxes or assessments, for the creation and maintenance of the special improvement guaranty fund as provided by law, and for faithful faith-ful accounting, collection, settlement settle-ment and payments of the taxes levied for local improwments and for the moneys of said funds. Section 6. That said bonds, the coupons thereto attached, and the certificate to appear thereon,, shall be in substantially the following fol-lowing form: (Bond Form) UNITED STATES OF AMERICA State of Utah Countv of Iron CEDAR CITY. UTAH SPECIAL IMPROVEMENT BOND SIDEWALK. CURB AND GUTTER, AND STREET LIGHTING DISTRICT NO. Ill $1,000.00 $ 500.00 $ 100.00 No - $ 50.00 i Cedar City, in the County of Iron and State of Utah, for value received hereby promises, out of a special fund available for the purpose, as hereinafter set forth, to pay to bearer hereof the principal prin-cipal sum of ONE THOUSAND DOLLARS FIVE HUNDRED DOLLARS ONE HUNDRED DOLLARS FIFTY DOLLARS on the first day of September, A. D., 19 , without option of prior pri-or redemption, with interest thereon at the rate of per centum ( ) per annum, until un-til maturity, payable annually on the first day of September in each year, both principal and interest in-terest being payable in lawful money of the United States of America, at the office of the City Treasurer, Cedar City, Iron County, Coun-ty, Utah, upon presentation and surrender of this bond and of the annexed coupons as they severally sever-ally become due. If, upon presentation presen-tation at maturity, payment of this bond is not paid as herein provided, interest hereon shall continue at the rate of eight per centum (8') per annum until the principal is paid in full. This bond is one of a series of thirty-nine special improvement improve-ment bonds numbered consecutively consecu-tively from one to thirty-nine, both inclusive, issued by Cedar City, all of which are of like date and designation and aggregate the total amount of SIXTEEN THOUSAND, EIGHT HUNDRED FIFTY DOLLARS ($16,850.00). Payment of this bond and the i interest thereon shall be made from, and as security for such i payment there is pledged, a special spe-cial fund designated the "Cedar City Sidewalk, Curb and Gutter, and Street Lighting District No. i III Fund," containing the receipts derived by said City from the special tax and assessment levied lev-ied upon the property included in said District in said City for. the purpose of paying in part the( cost of the construction of side-! walks, curbs and gutter, and I other incidental improvements, in said District, under, by virtue vir-tue of, and in full conformity with, the Constitution and Laws I of the State of Utah and certain ordinances and resolutions of said City duly passed and made law thereof prior to the issuance hereof. It Is hereby certified that a special improvement guaranty fund has been created by ordinance or-dinance as authorized by Article 8, of Title 15, Utah Code Annotated, Anno-tated, 1943, which ordinance was adopted and approved on the 20th day of February, 1950, and said City agrees that at all times during the life of this bond and until payment thereof in full, said fund shall be at all times maintained as therein required. This bond is payable exclusively out of said special tax and assessment as-sessment and said special improvement im-provement guaranty fund. Said City shall not be held liable for the payment of this bond, except ex-cept to the extent of the funds created and received by said special tax levies and assessments assess-ments and to the extent of its special improvement guaranty fund; but said City shall be held i responsible for the lawful levy of all special taxes or assessments, assess-ments, for the creation and maintenance main-tenance of the special improvement improve-ment guaranty fund as provided by law, and for faithful accounting, account-ing, collection, settlement and payments of the special tax and assessments levied for local improvements im-provements and for the moneys of said funds. Said special tax and and assessment as-sessment made and levied to defray de-fray said cost, with accruing interest in-terest thereon, constitutes a lien upon and against the property upon which such tax and assessment assess-ment was made and levied from and after the 31st day of August, 1951, the date upon which the ordinance levying such tax and assessment became effective, which lien Is superior to the lien of any mortgage or other encumbrance and is equal to and on a parity with the lien for general gen-eral taxes, and such lien shall continue until said tax and assessment as-sessment is paid, notwithstanding notwithstand-ing any sale of the property for or on account of a general or special tax, or the issuance of an auditor's deed. It is hereby further certified, recited and declared that all acts, conditions and things essential es-sential to the validity of the bond exist, have happened and have been done in due time, form and manner as required by law, and that the total issue of special spe-cial improvement bonds of said City for said District, Including this bond, does not exceed the amount authorized by law nor the special tax and assessment levied to cover the cost of said improvements in said District, and that all of said special tax and assessment has been lawfully law-fully levied. This bond is subject to the condition, and every holder hereof here-of by accepting the same agrees with the obligor and every subsequent sub-sequent holder hereof, that (a) the delivery of this bond to any transferee shall vest title in this bond and in the interest coupons attached hereto in such transferee trans-feree to the same extent for all purposes as would the delivery under like circumstances of any negotiable instrument payable to hearer; (b) the obligor and any agent of the obligor may treat the bearer of this bond as the absolute owner hereof for all purposes, and shall not be affected affect-ed by any notice to the contrary; con-trary; (c) the principal of and the interest on this bond shall be paid, and this bond and each of the coupons appertaining thereto are transferable, free from and without regard to any equities between the obligor and the original or any intermediate holder hereof, or any set-offs or cross-claims; and (d) the surrender sur-render to the obligor or any agent of the obligor of this bond and each of the coupons shall be a good discharge to the obligor for the same. IN WITNESS WHEREOF, Cedar City, Utah, has caused this bond to be signed by its Mayor, countersigned coun-tersigned by its City Treasurer, attested by its City Recorder and Ex-officio City Auditor, and its corporate seal to be affixed thereto, there-to, and the annexed coupons to bear the facsimile signatures of said City Recorder and Ex-officio City Auditor, and this bond to be dated as of the first day of September, Sep-tember, A. D. 1951. Mayor (SEAL) Attest: City Recorder and Ex-officio City Auditor. Countersigned: City Treasurer. (COUPON FORM I No $ i On the 1st day of September, A. D. 19 , Cedar City, County of Iron, State of Utah, will pay the bearer hereof: .'. Dollars in lawful money of the United States of America, out of a special spe-cial fund designated the "Cedar City Sidewalk, Curb and Gutter, and Street Lighting District No. Ill Fund," at the office of the City Treasurer of said City, being one year's interest on its special improvement bond of said District, Dis-trict, dated September 1, 1951, and bearing No (Facsimile Signature) City Recorder and Ex-officio City Auditor. (Form of Certificate) AUDITOR'S CERTIFICATE I hereby certify that this bond does not constitute an indebtedness indebted-ness of Cedar City, County of Iron, and State of Utah, within any State constitutional or statutory statu-tory limitation and is issued according to law. Dated this day of 195 City Recorder and Ex-officio City Auditor. Section 7. That said bonds when executed shall be issued to the lawful purchasers thereof; and Cedar City hereby pledges to the holder or holders of said bonds, the exercise of all lawful law-ful corporate powers in the collection col-lection of said special tax and assessment of the payments levied levi-ed for the collection of such bonds. Section 8. That all assessments collected by the Treasurer of said City and the account thereof shall be kept in the "Cedar City Sidewalk, Curb and Gutter, and Street Lighting District No. Ill Fund," separate and apart from all other funds and moneys of said City, and said fund, hereby created, shall be kept in the custody cus-tody of the City Treasurer in the manner provided by the laws of the State of Utah and the ordinances ordi-nances of Cedar City. Section 9. That the officers of Cedar City be, and they hereby are, authorized and directed to take all action necessary or appropriate ap-propriate to effectuate the provisions pro-visions of this ordinance, including, includ-ing, without limiting the generality gener-ality of the foregoing, the print-ing print-ing of said bonds and the execution execu-tion of such certificates as may reasonably be required by the purchasers thereof, relating inter in-ter alia, to the signing of the bonds, the tenure and identity of the municipal officials, the amounts certified on the assessment assess-ment roll together with the amount of payments received, the accuracy of property descriptions, descrip-tions, the receipt of the purchase price, the delivery of the bonds, and the absence of litigation pending or threatened affecting the validity of the bonds, if such is in accordance with the facts. Section 10. That any holder of any one or more of said bonds, or any of the coupons representing represent-ing interest thereon, may, either at law or in equity, by suit, action, ac-tion, mandamus or othpr appropriate appro-priate proceeding in any court of competent Jurisdiction, enforce en-force and compel the performance perform-ance of any duty imposed upon the said City by the provisions of this ordinance, including, without with-out limiting the generality of the foregoing, the segregation of the special tax and assessments and the proper applications thereof. Section 11. That all ordinances or resolutions, or parts thereof, in conflict with the provisions of this ordinance are hereby repealed. repeal-ed. This repealer shall not be construed to revive any ordinance, ordi-nance, or resolution, or part thereof, heretofore repealed. Section 12. That after said bonds are issued, this ordinance shall be and remain irrepealable until said bonds and the interest thereon shall be fully paid, certified cer-tified and discharged, as herein provided. Section 13. That should the courts of this or any other state or of the United States declare any section, provision, paragraph, clause, sentence, phrase, or part thereof, of this ordinance invalid, unauthorized or unconstitutional, unconstitution-al, or In conflict with any other section, provision, paragraph, clause, sentence, phrase, or part thereof, of this ordinance, then such decision shall affect only the section, provision, paragraph, clause, sentence, phrase, or part thereof, declared to be invalid, unauthorized or unconstitutional, and shall not affect any other part of this ordinance whatsoever. whatso-ever. Said City Council of said Cedar City hereby declares that it would have passed this ordinance ordin-ance on behalf of said City and each section, provision, paragraph, para-graph, clause, sentence, phrase, or part thereof, hereof, irrespective irrespec-tive of the fact that any one or more of the sections, provisions, paragraphs, clauses, sentences, phrases, or parts thereof, be declared de-clared invalid, unauthorized or unconsitutional. Section 14. That it is necessary for the immediate preservation of the peace, health and safety of said Cedar City and the inhabitants inhabit-ants thereof that this ordinance become effective immediately. An emergency is hereby declared, and this ordinance shall be in effect ef-fect on the date of its passage, approval and publication. PASSED by the City Council of Cedar City, Countv of Iron, State of Utah, and APPROVED by the Mayor of said City, this 6th day of December. 1951. L. V. BROADBENT, Mayor (SEAL) Attest: ELLEN A. SIMKINS, City Recorder. (Dec. 6, 1951). |