Show ORDINANCE awl AN ORDINANCE PROVIDING FOR THE IMPROVING AND RI REPAIRING pairing pAIRIN 0 OP TUB THE EXISTING 1 IV waterworks WATER V WORKS SYSTEM PROVIDING Ni FOR THE ISSUANCE ANI AND SALE OF REVE alir ale BONDS TO lAl I PART airl OV OF THE COST THE THEREOF RE OF PROVIDING FOR 1011 THE disposition OF TUB THE INCOME OF THE tiia I 1 ENTIRE SYSTEM arai ALL ordinances NA 01 S pit OR PARTS OV OF ordinances NANCES 11 8 IN CONFLICT HEREWITH AND v FIXING I 1 ING THE TIME SUCH 14 U C 11 ORDINANCE SHALL BECOME 1111 E EFFECTIVE V F E acrive WHEREAS JUDAS by ordinance awl adopted and approved ap by thol board loard or ot 01 oil tile the lay day of march larch A D 1935 mid and recorded and posted na as required by law a special election was ordered to lie lc bield in said town on saturday the day of april A I 1 D 1935 for the purpose of to the qualified clee tors fors of 0 salil mild town who had bald a 11 property tax ther therein elti in ili tho the year said election the following follow liiK shall revenue bonds bond ot of tho the volyn town of kanal Ka rial kane county altah in ili the amon aniol lub rei of twenty nine thousand dollars p loyille liy ille seil tilly lly within twenty nine year froni from the date of oe issue solely from the net revenues of ole it lie entire waterworks water vater works of tile town of kakahi kana itah and bearing earing li interest at a rato rate liotto not to four 4 per por lier payable mainwal lio be issued pun pursuant to chapter Cli apter 22 laws of the state of utah second special session 1933 commonly corn known fig as tile the revenue bondaco bond act of 1933 for tho the purpose of oc defraying in ili part tile llie cost of extending improving and repair lug tile the existing waterworks water works tent teni of tile the town of kanab tile said net revenues revenue of tile the entire waterworks water works system or of said town of kanal kanah to lo be 10 pledged to lo the payment or of said revenue bonds 1 find WHEREAS said election was duly bield and conducted in accordance with the alie requirements of the constitution and laws of the state of U utah tali on the wil said saturday the lay day of april A 1 1935 and returns of the result thereof leavo been made ly by the duly appointed and qualified ted judges or of ri election lection and WHEREAS the board of trustees of said town sitt sitting iii 4 1 as a sq on monday foi iday tile the alj aljy of f A 1 nTA ay iy 1936 1935 canvass d si said raid returns of tile the judges of election and by resolution i declared that 31 votes had been cast in ili favor of issuing bonds in accordance with said proposition and I 1 vote had len been cast against issuing is bonds tn in accordance with said proposition showing a majority of 30 votes in favor of issuing bonds bonda in accordance with said proposition NOW THEREFORE BE IT BY THE BOARD OF TRUSTEES or OF THE TOWN OF KANAB KAIND COUNTY utah AS ag FOLLOWS SECTION I 1 that in order to extend improve improte and repair the said system there bo undertaken the following the replacement of ly 75 miles of existing ext sting wood stave state pipe with cast iron pipe the installation of approximately lineal feet of wood stave pipe to obtain an additional supply of water the install installation of a chlorinator additional firo hydrants all other work incident thereto tile the estimated cost thereof Is SECTION 2 that for the Pui purpose lOsO of defrays defraying part of the cost of extending liti improving proving and repa repairing its ita existing waterworks water waterN works yorks system as de above the town of kallab kanab kloes hereby issue waterworks water works improvement pro revenue bonds bonda in the aggregate principal amount of twenty ty alno io thousand dollars to bo numbered red consecutively from one 1 to twenty nine 29 both and to lie be payable serially lit at tit the rate of ono one thousand 1000 hollars dollars in ili cadi of file years from 1937 to ta 1963 both inclusive and two Thou thousand 2000 dollars on slay may 11 1 1064 each bond to bo be of the dc liomin nomination atlon 0 of f one Thou thousand gana 1000 dollars such buell bonds bond shall be payable in any win coin or currency on oil the respective respeCt IvO dates of payment thereof Is legal tender leader for tile the payment of public and eriv ato ate debts Iel ts bear interest from and after tho the first day of may hay 1935 at the be rate of four 4 per per annum payable semi such interest shall bo be payable in ili like money on the first klays of may and november of each year aud and shall bo be evidenced by coupons at attached to such bond ind such bonds shall mature serially in numerical order one bond each year beginning in the year 1937 and ending in the year 1963 and two bonds in the year 1964 said revenue bonds shall be pa davalie valie solely from the jnet reve on rate ran four conr 3 NO awl f continued CIO from rate ono oat lilies derived from the operation of the entire water supply system of tile town of W annab such not revenue shall IB be doomed to bo be the gross revenues ot or such uch system after deductions only for tho the cost of operating and maintaining tho the syr tern tein and lio lie expense 0 of tiny any better ments or replacements to keep the same in it good repair anil and working order said revenue donds bonda and the coupons attached shall 1 ao 10 0 payable at tile office of the town r nt at annab kano county utah said bonds bonda shall boar bear dato date the first day of may A I 1 1835 1936 unit and shall lie 10 signed d by the proal dent of the board of Trust trustus ws of aad town ly by tho town and omit leavo tho the kal al of said I 1 town nt at fixed thereto attested by ilia alio clerk of tile hoard of tees of said town all coupons attached to said bonds bonda shall bear tho the facsimile signature of the treasurer of said tomi 1 and its IB clitis a ed said shall iw bandill bin dill lations for to interest thereby SECTION 3 that said revenue Ile vonno mada and the cout cautions ions thera attached haid oath each of thoin them shall bo be in fei iban 1 1 winy alio it following form forin STATES ot 01 01 UTAH oy OF KANAK COUNTY OF KANH KAND lul rowl BOND NO 1000 town of kanab A municipal corporation in the county of kane bane state of utah hereby acknowledges itself indebted and for value re elvod promises to pay in the man tier ncr hereinafter provided to fo tho the bearer hereof or it if tins this bond boad bo be registered tp to tile registered holder liere of ou on the first lay day tit t bray aray A 1 D 19 tile tho bum of ON lin 1011 borras 1000 mid and to pay inter late crt rost there on al ruto of four 0 4 pir per per minum uini payable cenit annu allys ou on the first days of may and november lit in nich year from date until maturity upon surrender Bur rendor of the annexed as they fieve rally due dah pal nad hite rost os 04 chis ilond bond are payable iia uble lit in any coin or currena vOil elt ort on the ho tive dates ot of ther theriot vot la Is legal tender for tho payin ont ent 0 of public and arl vate mite debt librat lib taT lit at tho the lot tho me town treasurer tit danab kanab kino county utah tah 4 kond Is a ono of fi a series of revenue bohlds by the town or of nallah in tho of alne thousand Dolli Dol litra lra for the of extend hig works system of wd town by virtue of a majority yoto vote of tile qualified electors of said town voting at ata a special election as required require dby by arv sm bon 3 of tile constitution ution of tile tho state of utah duly va and lic aiom ld on oil aho day of april A D 1035 and by virtue of no bwl ot of tile tho board of of said nita towa duly anly passed and adopted on the day I 1 arll A 1 1935 and pursuant to io the constitution and abid laws ot of tiia alio state of utah including section th ill 1678 16 78 ta statutes 1933 alid Chup tor 22 laws lawa of 1833 1933 second Spec lill session commonly known is AS the ReVO Ite onue bond boad alt of df 1933 As required by section settimi 3 of cf tile the said revenue bond act ot of 1933 it ia Is hereby stated that this bond Is issued andor tile tho provi lilova thereof and that it dom doea bot constitute on an Indebted noes of said town any state or statutory limit aaion thia bond is payable as to both principal and interest Inte rost solely froni from tho ilia not revenues of vic tho entire water supply system of tho the town of kanab SAM said net revenues royen uca being defined by br bald ordinance no cwi im thu tho grom revenues of such system and of any hotter botter monts menta or replacements to keep the tamo samo jn III good repair and working order older and us as M for such payin payment vot bala not reven revenues ups url aro pledged ly nita p ald ordinance lit in an amount clent there fori to tho daymont of tho ho interest upon and principal of tho file lamio of bonds of which athla Is im one ona and to the crew crea tion of ft a bond anil and interest ligom st sink ing ig fund it tt t t hereby covenanted and agreed that tho the town will charge water rates adequate to prod produce I 1 uve rey enties from sala eata water supply system sufficient to fco pay operation and maintenance ex poll seH of fid and alid the tho inter st t on and tile principal of tills this ditona is and when tile aune become due and payable it Is here iby by further farther covenanted find and agreed ti that ait rais adequate to provide for mich men pur par gosei will be at nil all until tills ilond bond and the doupona lit attached are fully pala paid antl hillst barged provided that such muei cleall not be in excess cx cess of a rate tor for the wv leo rendered this ilond bond Is 18 subject to the lie condition mia every holder hereof by um epting the same tigres with til obligor and 0 wery tr er thit a the delivery of ells rond bond to liny any transferee trans forro if not kisr IL I L Ide or if the bapa regi sterea I 1 trans bransfor for bo be to bearer shall vest vent fillo in i bond and tho me interest represented pheroby in III otiele trans trams ceroo to the saine extent for all purposes pin poses fly aa would tile delivery dell my under lako of any ne ioe got lable payable to beator b tho the obligor and Al any agent of the obligor may treat tim acho bearer of toils bilg bond or if tt it bo be in tile nai of it ft 1101 lar ill lie holder of tills bond boad a na s ifil jbv e owner hereof for all nad shall no not t bo be lt at feeter ly by any hotl u to iho con arary c tho the principal of and the int Inter cut ou on itjima rond bond will 1011 bo be imm and f liia his bund bood and ettelt of tho eon pons appertain lug dipreto fora fo rable bli ateo from and without to equities set offs offa and cross dainis lip tween tile obligor and ilia original or uny any intermediate holder hereof it the surrender to tho the obligor or any agent of tho obligor of this bond and of each of the coulon if not registered or if tho last red transfer bo be to bear or or ilia receipt of tile lie registered holder for tho the and littere st liefton li eiton if tills this bond b bo 0 K registered tit in the naino of it a b older shall lio ho a rood good discharge to uio the obligor of tho same saino it la hereby certified and deelaree dee lared that all nets condl conditions laid aud things to bo be a dono pi to tile lasu atKo an and d OT os s islai to uie io validity of this bond have licon been dono and performed and ll llyl fl abo form conn and that every requirement of if taw law affecting tile alio issuance hero of haa beell duly compiled with TN IN WITNESS tho frowin of has tills bobul it to iw be by tile president of tile board of tru aves counter ly by its treasurer and its ori getil to ie 10 hereto a falk 0 di by its ita clerk cle rk of tile board of trustees Tru steeA and aili lias has also caused the lie annexed to bo fluth miti batea abed ly by tile tho ati signature of ald t treasurer and this bond to bo be na ag of the first day of mayi alay A D 1936 B E J rord FORD president of tho the board of trustees trustee SEAL 1 west attest i iI cDONALD clerk cleric of the board of trustees Uc mcdonald DONALD town Treas treasurer uror FORM OV OP COUPON no on the first day of A D 10 the town of kanab a municipal corporation in the tha county of kane state of utah will pay in the manner described in tho the bond to which this coupon la Is attached to the bearer hereof at the office of tho the town treasurer ur ir er V dollars in any coin or currency which on the iho date of payment hereof is legal tender for the payment of public and private debts being six 6 months interest on its waterworks Water works improvement revenue bond no dated may 1 A D 1035 this coupon la Is issued under and pursuant to the constitution and laws of the state of utah including section 1578 15 78 revised statutes 1933 and chapter 22 laws of 1033 second special session and as required by section 3 of said chapter 22 it is hereby stated that this coupon is issued under the provisions thereof and that it does not constitute an indebted edi nes of the town within any state constitutional provisions or statutory limitations the interest represented by this coupon shall bo be payable solely from the net revenues of the entire water supply system of the town of kanab MARIE mcdonald facsimile signature of town treasurer back of bond NOTICE 1 NOTHING TO BE WRITTEN HERI fiON EXCEPT BY THE CLERIE CLERIC OF THE BOARD or OF TRUSTEES this thia bond may be registered as to principal only in the name of th the e holder hereof on the books afi the clerk of the board of trustees of the town of kanab utah at wh which I 1 ch time such registration shall be noted below by said clerk upon its presentation by such registered holder his hia legal tentative senta tive or assigns ni signs together with i proper proof of identity power of attorney or assignment as aa the case may be said clerk if sore so re j quested shall register it in the name of another holder or bobear to bearer after registration to bearer this bond shall be transferable by del delivery lvery but it may again be re gist ered as before the reg istra tion of this his bond as to principal i shall not the negotiability of the coupons which shall continue cont n to be transferable by delivery the within bond has been registered as follows date of registration I 1 11 1 I 1 I I 1 in whose name registered I 1 1 I signature of tho the clerk of the I 1 board of trustees I 1 there ther shall iw be endorsed a orbed on each of said bonds by the clerk of the board of trustees the following I 1 hereby certify that this bond als within the lawful debt limit of the town of kanab and is is issued S u e a i according to law MARIE mcdonald clerk of the board of trustees SECTION sections 4 v S special cl fund to be known as the wa water lr supply system income fund of the town of kanab herein called the income fund into which shall bo be paid from and after tho the date of the sale of the bonds herein authorized to bo ba issued all income derived from the operation of the entire water supply system of said town As long na as any of the principal of or interest on any of the bonds herein issued alfund is outstanding the income fund shall be administered as herein provided before any of tho the monies in such f und fund is used for any other purpose in any month there shall be paid 1 into a separate account to be known as the water supply system operation and maintenance fund Fun dothe of the town of kanab beret herein called ailed the operation and maintenance fund an amount sufficient clent to pay all reasonable expenses of operation and maintenance of the system for such month the monies in the operation and maintenance fund shall be used only tor for the payment of the legitimate legit mate costs coats of operation and maintenance of tho the system and the reasonable ex benses of any bet torments or replacements necessary to keep tho the same in good repair and working order 2 into a |