Show AN N ORDINANCE A CE j AN ORDINANCE PROVIDING FOR FORTHE FORTHE FORTHE THE ISSUANCE AND SALE BALE OF NINE THOUSAND DOLLARS TAX ANTICIPATION BONDS OF PARK CITY SUMMIT COUNTY STATE OF UTAH SERIES OF MAY i 1 1948 WHEREAS there is an Immediate and pressing need for the raising of funds j in the amount of Nine Thousand Dollars for the purpose of meeting the current expenses of Park City for forthe forthe forthe the year 1948 until the payment of taxes for the year 1948 and WHEREAS said sum can be borrowed without incurring and Indebtedness in excess of the taxes of said eaid City for the current year 1948 and WHEREAS the sum of Nine lne Thousand Dollars now to be bo raised is not in excess of the revenues to be raised raised rais rals- ed for the year 1948 NOW THEREFORE BE IT ORDAINED ORDAIN ORDAIN- ED BY TIlE THE CITY COUNCIL OF PARK CITY SUMMIT COUNTY STATE OF UTAH Section I 1 1 That said Park City Utah for the purpose of meeting current ex expenses expenses expenses ex- ex of said City for th the year 1948 until the payment of taxes for the year I 1943 1948 shall borrow the sum of Nine Thousand Dollars and for tor that purpose as evidence of such in indebtedness Indebtedness indebtedness In- In shall Issue three bonds of the denomination of Three I Thousand Dollars each numbered numbered numbered num num- from one 1 to three 3 in inclusive In- In Said bonds shall bear date of May 1 1 1948 and shall be due and payable payable pay pay- able ablo December 31 1948 bearing Interest at the rate of three and one half per percent percent percent cent 3 2 per annum payable at maturity both principal and interest being be being be- be ing pa payable able at the First Security Bank Dank Dankof of Utah N N. A A. Park City Branch Park City Utah Said bonds shall be designated designated Park City Tax Anticipation I Bonds Series of May I 1 1 1948 Said bonds shall be signed by the Mayor and attested by the City Recorder under tinder the seal of the City and shall be registered in a book kept by the City Auditor for forI that purpose and the City Auditor shall I endorse on said bonds the certificate required by law laws I I Section 2 That an emergency Is hereby hereby here here- by declared and In the opinion of the City Council because of the necessity for I funds to meet the current expenses of said City it is necessary for the peace health and safety of the inhabitants of Park City that this ordinance shall take effect at once Section 3 This ordinance shall take effect upon the first publication Passed by the City Council of ot Park City Summit County State of Utah and approved this day of May A A. A D. D 1948 HARRY DeJONGHE Mayor Attest MARJORIE McKISSICK Seal Beal city Recorder |