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Show Nos. Maturity Amt. Coupon 1 1973 $ 5,000 5.10'; 2 1971 5,000 5.10', 3 1973 5,000 5.10', 4-5 1976 10,000 5.10', 6-7 1977 10,000 5.10' i 8-9 197S 10,000 5.10'; 10 11 1979 10.000 5-10',; 12-10 19S0 25,000 5.10'.i 17-21 19S1 25.000 5.10',; 22-20 19S2 23,000 5.10',; 27-31 19S3 25,000 5.10',; 32-3S 1981 35,000 5.10', 39- 45 19S3 35,000 5.10'.; 40- 52 19S6 35,000 5.10',; 53-59 19S7 35,000 5.10',' ! 60-67 19SS 40,000 5.10' 68-76 19S9 45,000 5.05',; RESOLUTION NO. 1969 A RESOLUTION providing for the issuance and confirming confirm-ing of the sale of $123,000 General Gen-eral Obligation Various Purpose Pur-pose Bonds of Cedar City, Iron County, Utah. WHEREAS, at a special jbond election duly and lawfully law-fully called and held in Cedar City, Iron County, Utah, on September 3, 1968, the following follow-ing propositions were submitted submit-ted to a vote of the qualified electors of said City who had paid a property tax in the year preceding said election: PROPOSITION NO. 1 STORM SEWER BONDS This bond Is subject to the conditions, and vvery holdei 'hereof and evry holder of tin coupon hereto attached by accepting ac-cepting the same agrees with Cetlar City and every subse quent holder of this bond oi of such coupons, the (a) delivery de-livery of this bond to any transferee shall vest title in this bond and in the interest coupons attached hereto at the time of such delivery and the delivery of any interest coupons cou-pons attached hereto to any tranferee to the same extent for all purposes as would any such delivery under like circumstances cir-cumstances of any negotiable instrument payable to bearer; (b) Cedar City and any agent of Cedar City may treat the bearer of this bond and of any such coupons as the absolute abso-lute owner thereof for all purposes pur-poses and shall not be affected af-fected by any notice to the contrary; (c) the principal of and tlie interest on this bond shall be paid and this bond and each of the coupons attached at-tached hereto are transferable transfer-able free from and without regard to any equities, setoffs, set-offs, or cross claims between Cedar City and the orginial or any subsequent holder thereof and free from any claims of ownership by any such holder; and (d) the surrender sur-render to Cedar City or to any agent of Cedar City of this bond and of each of the coupons cou-pons attached hereto shall be a good discharge to Cedar City Ci-ty for the same. It is hensby certified, recited, recit-ed, and declared that all conditions, con-ditions, acts, and things essential es-sential to the validity of this bond and the issue of which it forms a part do exist, have happened, and have been duly complied with and that this bond is within every debt and other limit prescribed by the Constitution and laws of the State of Utah and that the full faith and credit of Cedar City are hereby irrevocably pledged pledg-ed to the punctual payment of th.e principal and interest on this bond according to its terms. IN WITNESS WHEREOF, Cedar City has caused this bond to be signed by the Mayor May-or and countersigned by its City Recorder with the seal of the City affixed and the coupons cou-pons hereto attached to be signed with the facsimile signature sig-nature of the City Treasurer, all as of the 1st day of December, Dec-ember, 1968. L. A. Whettcn Mayor Countersigned: Ellen A. Simkins ' ' contained shall be so constru- .'.(! as to prevent said City from applying other fund that may be in the City treasury and i available for that purpose to the payment of said interest and principal as the same respectively re-spectively mature, ancj the levy or levies herein provided i for may theieuponto that extent ex-tent be diminished. The sum herein provided for to meet 1 the interest on said bonds and to discharge the priniepal thereof when due is hereby appropriated for that purpose. Principal and Interest falling due at any time when there are on hand from the proceeds of tlie above tax levy insufficient insuffi-cient funds shall be advanced from other funds of the City-available City-available for such purpose and such other funds may be reimbursed re-imbursed when the tax levy proceeds become available. Section 5. That the sale of said various purpose bonds to First Security Bank of Utah of Salt Lake City, Utah and associates at a price of par and accrued interest to the date of delivery plus a premium prem-ium of $None, in accordance with the terms of the sealed bids submitted by said purchasers pur-chasers on thus date, at the advertised ad-vertised public sale of said bonds is hereby in all respects ratified and confirmed. Said bonds shall be delivered to the purchasers as soon as they may be legally issued, upon receipt by the City Treasurer of the agreed purchase price therefor. Section 6- That all ordin-ances, ordin-ances, resolutions, or parts thereof in conflict herewith bo and the same are to the ex-ttent ex-ttent of such conflict hereby repealed and after said bonds are issued this reslolution shall bo and remain irnepeal-able irnepeal-able until said bonds and the interest thereon shall have been fully paid, satisfied, and discharged as herein provided. pro-vided. Section 7. The resolution shall be published one time in the Iron County Record, a newspaper published in said City and having general circulation cir-culation in said City. For a period of thirty days after such publication any person in interest shall have the right -to contest the legality of this resolution or any action tak-'en tak-'en pursuant thereto, but after af-ter such time, no one shall have any cause of action to contest the regularity, formality, form-ality, or legality thereof for any cause whatsoever. 77-S3 1990 45,000 5.05',; Bonds numbered 1 through 11 maturing on or prior to December De-cember 1, 1979, are not callable call-able for redemption. Bonds numbered 12 through S5 maturing ma-turing on and after December 1, 1980, are callable for redemption re-demption at the option of the City in inverse numerical order or-der on December 1, 1979, and on any interest payment date thereafter at par plus accrued interest to the date fixed for redemption and a premium of two and one-half per cent. Section 2. That said bonds and the interest coupons thereto attached shall be in substatially the following form: (Form of Bond) UNITED STATES OF AMERICA STATE OF UTAH CEDAR CITY GENERAL OBLIGATION VARIOUS PURPOSE BONDS Dated December 1. 1968 Number $5,000 Cedar City, Iron County, Utah, for value received, hereby here-by acknowledges itself to be indebted and promises to pay to the bearer hereof the sum of Five Thousand Dollars ($5,-000) ($5,-000) on the first day of December, Dec-ember, 19 , together with interest theron from the date hereof until paid at the rate of per cent ( ') per annum, payable June 1, 1969, and semiannually thereafter on the first day of December and June of each year with interest inter-est falling due on and prior to maturity, payable only upon up-on presentation and surrender surrend-er of the attached interest cu-pons cu-pons as they severally become be-come due. Both principal and interest on this bond are payable pay-able in lawful money of the United States of America at First Security Bank of Utah, Salt Lake City. Utah. Shall the City Council of Cedar City, Utah, be authorized author-ized to issue the General Obligation Obli-gation Storm Sewer Bonds of said City in the amount of not to exceed One Hundred Five Thousand Dollars ($105,-000), ($105,-000), bearing interest at a rate or rates not to exceed six per cent (6',; ) per annum and due and payable in not to exceed ex-ceed thirty (30) years from the date of said bonds; these bonds to be issued and sold for the purpose of defraying all or part of the cost of constructing con-structing drainnge and flood control structures for the City Ci-ty including the construction of storm sewers and related cur and gutter in said City? PROPOSITION NO- 2 WATER BONDS Shall the City Council of Cedar City, Utah, be authorized to issue is-sue the General Obligation Water Bonds of said City in the amount of not to exceed Three Hundred Twenty Thousand Thous-and Dollars ($320,000) bearing interest at a rate or rates not to exceed six per cent (6) per annum and due and payable pay-able in not to exceed thirty (30) years from the date of said bonds; these bonds to be issued and sold for the purpose pur-pose of defraying all or a part of the cost of constructing construct-ing improvmeents to the water wat-er system of said City? WHEREAS, the results of said election were declared by the City Council of said City, sitting as a Board of Canvassers, by resolution duly passed on the 5th day of September, Sep-tember, 1968, from which it appears that the total number num-ber of votes cast at said election elec-tion in favor of the issuance of said General Obligation Storm Sewer Bonds was 587 and that the total number of votes cast at said election against the issuance of said General Obligation Storm Sew- Section 8. That it being necessary ne-cessary for the immediate preservation pre-servation of the peace, health, and safety of Cedar City and the inhabitants thereof that the proceeds of the bonds herein authorized be available avail-able immediately for the purposes pur-poses herein set forth, and this resolution shall be in full force and effect immediately upon its adoption. PASSED by the City Council of Cedar City, Utah, this 16th day of January, 1969. LOREN A. WHETTEN, Mayor ATTEST: ELLEN A. SIMKINS, City Recorder. , (SEAL) January 30, 1969. er Bonds was 63; that the total number of votes cast at said elction in favor of the issuance issu-ance of said General Obligation Obliga-tion Water Bonds was 587 and that the total number of votes cast at said election against the issuance "of said General Obligation Water Bonds was 59. WHEREAS, the bonds authorized at said election have been this day offered for sale upon sealed bids and, when said bids were opened, it was found that the bid of First Security Bank of Utah of Salt Lake City, Utah and associates was the highest and best bid submitted for said various purpose bonds; and WHEREAS, said bonds have been awarded to said purchasers pur-chasers at the price of par and accrued interest to the 'date of delivery plus " premium, pre-mium, if any, of $ Nona NOW, THEREFORE, BE It and It Is Hereby Resolved by the City Council of Cedar City, Ci-ty, Iron County, Utah: Section 1. That for the purpose pur-pose of defraying all or a part of the cost of constructing construct-ing drainage and flood control con-trol structures for the City and improvements to the water system of said City, there shall be issued General Obligation Obli-gation Various Purpose Bonds of Cedar City, Utah, in the aggregate amount of $425,000. Proceeds from the sale of the bonds in an amount not exceeding ex-ceeding $105,000 may be used for the purpose of defraying all or part of the cost of constructing con-structing drainage and flood control structures including the construction of storm sewers sew-ers and related curb and gutter gut-ter In said City and proceeds rom the sale of bonds in an amount not exceeding $320,-000 $320,-000 may be used for the purpose pur-pose of defraying all or part of the cost of constructing improvements im-provements to the water system sys-tem of said City. Said bonds, shall be issued pursuant to the Utah Municipal Bond Act, shall be dated December 1, 1968, shall be of the denominations denom-inations of $5 000 each, shall be numbered 1 to 85, Inclusive, Inclu-sive, and shall bear interest from date until paid at the rate or rates hereafter set out, which interest shall be payable pay-able beginning June 1, 1969, and semiannually thereafter on the first days of December Decem-ber and June of each year. Said bonds shall be numbered num-bered and shall mature serial ly in numerical order on December De-cember 1 of each of the years and shall bear interest as follows: This is one of an issue ol 85 bonds of like date, tenor, and effect except as to maturity matur-ity and interest rate of the aggregate amount of $425,000, Of said aggregate amount $105,000 of General Obligation Various Purpose Bonds are issued is-sued for the purpose of defraying de-fraying all or a part of the cost of constructing drainage and flood control structures for the city including the construction con-struction of storm sewers and related curb and gutter in said City, and $320,000 of General Gen-eral Obligation Various Purpose Pur-pose Bonds are issued for the purpose of defraying all or a part of the cost of constructing construct-ing improvements to the water wa-ter system of said City. These bonds are issued under and by virtue of and in full conformity with the Constitution Consti-tution and laws of the State of Utah and a resolution duly du-ly adopted by the City Council Coun-cil of Cedar City on January 16, 1969, after having been duly du-ly authorized by an election legally held in said City on September 3, 1968. This bond and the issue of which it is part are issued pursuant to authority contained in the Utah Municipal Bond Act. Cedar City has reserved the right and option to redeem in inverse numerical order bonds numbered 12 through 85, inclusive, in-clusive, which mature on and after December 1, 1980, on December De-cember 1, 1979, and on any interest in-terest payment date thereafter, thereaf-ter, at a price equal to the principal amount of each bond so redeemed and ac-cured ac-cured interest thereon to the date fixed for redemption, plus a premium of two and one half per cent (2Varc) of tlie par value of the bonds. Notice of the call of any of the bonds for rede;np;ion shall be given by publi: it ion of an appropriate notice one time in a newspaper of general circulation cir-culation in Salt Lake City, Utah, at least thirty days prior pr-ior to the date of redemption together with notification of the firm Burrows, Smith and Company, Salt Lake City, Utah, and tlie original purchasers pur-chasers of the bonds. Interest on any bond subject lo redemption re-demption shall cease to ac-cure ac-cure on the date fixed for redemption re-demption if notice has been properly givn and funds equal to the redemption price have been deposited with First Security Se-curity Bank of Utah, Salt Lake City, Utah. The City Council of Cedar jCity agrees that it will annually an-nually levy a tax sufficient to pay the interest on this bond us it falls due and also to con. jstitute a sinking fund sufficient suffi-cient to pay the principal when due. (Form of Coupon) Number $ On the first day of , 19 , unless the hereinafter , mentioned bond is then callable call-able for redemption and has been so called and provision , for redemption duly made, Ce-, Ce-, dar City, Utah, will pay to the i bearer hereof at First Security Securi-ty Bank of Utah, Salt Lake City, Ci-ty, Utah, the amount shown hereon in lawful money of the United States of America being be-ing the interest then due on its General Obligation Various Purpose Bonds dated December Decem-ber 1, 1968 numbered (Facimile Signature) City Treasurer Section 3. That each of said bonds shall be signed by the Mayor and counterssigned by the City Recorder with the seal of the City affixed, and said coupons shall bear the facsimile facsim-ile signature of the City Treasurer. Trea-surer. The Mayor is hereby empowered and directed to sign, and the City Recorder to countersign and affix the seal of the City to each of said bonds, and the City Treasurer is authorized to execute said coupons by causing his facsimile fac-simile signature to be placed on each of said coupons, and the acts of said Mayor, City Recorder, and City Treasurer in sod doing shall be the act and deed of Cedar City, Utah. All of the covenants, statements, representations, and agreements contained in said bonds and said coupons, and all of the recitals and representations re-presentations of this resolution resolu-tion are hereby considered and understood, and it Is hereby ordered and declared that said covenants and promises of Cedar City and that the representations re-presentations and statements therein are the representations of the City. Section 4. Thaat to pay the interest falling due on said bonds as the same becomes due and also to provide a sinking sink-ing fund for the payment of the principal of said bonds at maturity, there shall be and is hereby levied on all taxable tax-able property in said City, in addition to all other taxes, a direct annual tax sufficient to ,pay the interest on said bonds and to pay and retire the same as hereinbefore provided. Said taxes when collected shall be applied solely for the purpose of the payment of interest on and principal of said bonds, respectively, and for no other purpose whatsoever until the indebtedness so contracted under un-der this resolution, principal and interest, shall have been fully paid, satisfied and dis-chagerd, dis-chagerd, but nothing herein |