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Show -- , ? I Invest In Municipal Warrants )) I Return 8 Per Cent j Two Classes of Municipal The new state law aovernina I What is the special improvement k H nAj guarantee fund? Chapter 9, Compiled 1 V 130nOS y 1 f d 9 1 T L of Utah, 1921, effective May 1 1 t'tniKrx tn issuance of Special 1 mprove- io-mi- m j- A J er bonds or warranto may be divided T TT T ! An; cit3 01 t0wn hich lins Y'k Krr 1 1 rnent Bonds or Warrants is of r:::z::;z: m Crurriil ..hhtrations arc sTiirMl or van. nils, shall bv appropri- t'JE H??B1E::S d;?ct benefit to property own- r.;:r.;v:r'..;r.: r Hj within the municipality. Special or 1) "I 1 exceed our mill in any one I Hi district obligations may also be addi- sit O -v-HjV -A3 vlk SB 'W C -4 ff Svi" -Ml yiT '"' '' issuance of general J 4 j tionally secured bj a conditional ftfO CI f CfM2 CioCJ CflCjL L f HZ (Ji (SttL obligation bonds, or bj appro- I H general guarantee of the ntiiv inn- priatiun i'rom such other B iifB nicipality. Special improvement ob- "i jf J sources as mar ho determined ' ( I I ligations of Utah municipalities are ? 1 1 SY 1 7! $ P T 1 1 1 til T TT? O? ifXYifiQ by the board of commissioners, H 30 additionally i ured The g ral ' & UL B Us$& KJ J IAJ B S UHIO VJ B KJJ B tHO 01 ,,t councilj ,. board 0j guarantee mnsl I" conditional tn he 1 ' town trustees as the case may ?t.s,t3ffi is reflected m lower ma cost of ZjtjX'z: protection. Special improvement ob- s 9 tent of such fund, the payment Ligations "i Utah municipalities have v 1 'I 'l 1 'I "' bonds or warrants and mter- such a guarantee. T il P HI) (TP,? Ji H (i T Si P 71 P til P 7 T fi P est thereon, issued against local A. municipal bond or warrant is in ' ML IV 9 t. lf tAB I K, B improvement districts for the H: effect a promissory note issued under m p m payment of local improvements 1 more formality than the ordinary SB'B 4 w B 1 SY'V'V 4" O J'V nAlilC therein Such fund shall be J note sf hand tts promise of a defi- ULLS UL$ "J I LULLt B CtiCo KJ B AJvJbIUL& designated as "Special Improve- nite interest payment and the repay- r ment Guarantee Fund." ( men1 principal at a fixed date is 1 1 1 j f s . .; . apprcacnes par trie less the 1 1 1 stick maker may go unpaid hut taxes -1 '"' S?1 "' any SpPUal imProve" r;:.-,rr assessment to pay for the cost 'f: f";z:;zz M 1 b)lit i.-hind a muuinpal oblipntmn B 7 f lund haxr b.,.-n retir.-d shall he STm HI in - nf d.-pr.-ssinn whm i v transferred to the special improve- corp. rations and individuals are T" lTTI(lYlf fl iPHflPUT ment guarantee fund and that nil ex- 41 1 able to meet their obligations. B B B B I B KJ J S B B I - cess interest charges ami penalties I j Municipal obligations ar( exempl a 9 - accrumg to the guarantee fund shall from taxation and the full income is A II W I ll'M O 4-V be used to build up and strengthen oel income This explains why the 4 3.11 1 L i C17TCL JL (JlUbTS (Ji LlMZ s, this guarantee fund, .aside l net yield is greater than that from from thl general levy and the other corporation or other securities oi j , TT, 1 j 1 methods of replenishment provided it?:;:;"" - 90 otate or Utah contempt ati nq ssjswMuSs Hi 0 assured of the inherent II' 1 11 "f any Penalties ,lne to defaults. I I Hi soundness oi any particular munici- Iklf K I 1 I 1 V-ft i V1 1f 4 O O V S M I s4 Where this mandate of the state leg- HI pal obligation, the investor JJ U U I I C 7l Jji (JJJ 771 tTTto. O BlijLtlLt )slturo has been confirmed by city lieved of anv anxiety as 10 property MM ordinances and the guarantee fund l ralue, earnings competition, hard 1 1 is established and functioning, as is times, etc Tins explains why estates, PP1Bllt1llB1 tlY fml fl 1 11 ill 11 P P Q 111 ll,P case in Salt Lake City' the sPe" insurance and trusl companies and W W B B B LJ K4, 0 O V- f ti i C V W W C7 wal improvement obbgation takes on . 1 other conservative investors buy and - the safety of a general obligatipn of f gg compliance with requirements I I of state law, and thereby give the property owners the j H j benefit of such costs for such improvements. j I ! HiRAL CONTRACTORS " I ; SUITE 504 FELT BUILDING ROOM 201 ECCLES BUILDING 1 Summarizing Ten Advantages of SALT LAKE CITY, UTAH OGDEN, UTAH Why is the annual interest yield fj ; Special Impiovemcnt from a special 25'., to 50', greater 1 k Obligations. . r II . 1. The security is ahead of any than from a general municipal obh- H' mortgage upon the property gation? Largely because the individ- j H 2 The value of the property issev- ual investor is not as familiar with Hj eral times the special improve- special as with general municipal ob- i H ment tax assessed against it. ' "" ligations, and does not yet fully un- H1 8. The special improvement in- derstand the additional strength H' creases the value of the prop given these securities by the new M H 4 We will sell $50,000 of Special Improvement Warrants H 5. TTequseilSing the special of Ogden City at 92 per cent of face value and accrued Safety improvement obligations m- . t ' c rtorr ' zC Regularity of Income 1 H irV"L Merest Denominations of warrants $600; interest 6 Prompt P,yment at Ma- e TTxesrtL.rmorre certain than per cent; yields 8 per cent per annum. Exempt from all turity 7 Se iSvhfi frequent coni taxp both normal and surtax. If interested address Exemption from Taxes tro1 of lns moilc3 and Pan bc Value as Collateral M0RAN PAVING COMPANY H r"fi income is all net because , - m . -r, r, t 504 Felt Building Salt Lake City, Utah J' chr af?oTiateSifCmtition and value Special Improvement Obli- I io funds assist local gations of Utah cities and I H' improvement and civic advance- I towns to the careful in- Hl I ment, adding value to the city . II i B and all property in it VeSiOT. j |