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Show Thereupon the Clerk was ordered and directed to enter the foregoing proceedings upon the records of the Board of Education. Approved this 25th day of February, 1975. Fay T. Dearden President, Board of Education Ed-ucation of Park City School District, Summit County, Utah. Attest: Stephen Badger Clerk, Board of Education of Park City School District, Dis-trict, Summit County, Utah Published in The Park Record March 6, 1975. (Jemptiun, on April 1 of each of the years as follows: OND NUMBERS AMOUNT YEAR 1 to 14 $ 70,000 1976 15 to 34 100,000 1977 35 to 54 100,000 1978 55 to 74 100,000 1979 75 to 94 100,000 1980 95 to 114 100,000 1981 15 to 134 100,000 1982 35 to 156 110,000 1983 57 to 180 120,000 1984 81 to 204 120,000 1985 Section 3. That both principal prin-cipal of and interest on said bonds shall be payable in lawful money of the United States of America at First Security Bank of Utah, N.A., in Salt Lake City, Utah. Said bonds shall be signed by the President and attested by the Clerk of the Board of Education Educa-tion (the signature of said President being by facsimile), facsim-ile), and shall have the facsimile of the corporate seal of said board imprint ed thereon and shall have coupons for interest attached, attach-ed, which coupons shall be signed with the printed facsimile fac-simile signatures of the President and Clerk of the Board of Education, and the preparation of said printed facsimiles of said President and Clerk upon said bonds and coupons is hereby adopted adopt-ed by said Board as the authorized auth-orized and authentic signing of said bonds and coupons by said officials. Section 4. That said bonds and the coupons shall be in substantially the following form: LEGAL A RESOLUTION authorizing authoriz-ing the issuance of $1,020,-000 $1,020,-000 School Building Bonds, Series April 1, 1975, of the Board of Education of Park City School District, Summit Sum-mit County, Utah, providing for the levy of taxes to pay principal of and interest on said bonds, and providing for the sale of said bonds. WHEREAS at an election duly and lawfully called and held in Park City School District, Summit County, Utah, on May 14, 1974, the issuance of $3,000,000 bonds was authorized for the purpose pur-pose of raising money for purchasing school sites, for building orpurchasingoneor more school houses and supplying sup-plying the same with furniture furn-iture and necessary appart-atus, appart-atus, and for improving school property under the charge of the Board of Education, Ed-ucation, the result of which election was declared by the Board of Education, sitting as a Board of Canvassers. school property under ttie charge of ttie Board of Education Ed-ucation and is issued under and pursuant to the provisions pro-visions of the Constitution and laws of the State of Utah, including particularly the Utah Municipal BondAct, Chapter 14, Title 11, Utah Code Annotated, 1953, after having been authorized at an election held on May 14, 1974, in said district by vote of the qualified electors of said district. The Board of Education of Park City School District covenants and is by law required re-quired to levy annually a sufficient tax to pay the interest in-terest on this bond as it falls due and also to constitute con-stitute a sinking fund for the payment of the principal thereof as the same falls due. It is hereby certified, recited re-cited and declared that all acts, conditions and things essential to the validity of this bond exist, have happened happen-ed and have been done, and that every requirement of law affecting the issue hereof here-of has been duly complied with, and that this bond is within every debt and other limit prescribed by the Constitution Con-stitution and laws of said state, and that the full faith and credit of said Board of Education of Park City School District are hereby irrevocably pledged to the punctual payment of the principal prin-cipal of and interest on this bond according to its terms. IN WITNESS WHEREOF, the Board of Education of Park City School District, Summit County, State of Utah, has caused this bond to be signed by its President Pres-ident and attested by its Clerk (the signature of said President being by facsimile) facsim-ile) and has caused the facsimile fac-simile of the corporate seal of said Board of Education of Park City School District Dis-trict to be imprinted hereon, and the annexed coupons to be signed with the facsimile signatures of its President and its Clerk, which officials by the execution hereof do adopt as and for their own proper signatures their facsimile fac-simile signatures appearing on each of said coupons, all as of the first day of April, 1975. (Facsimile Signature) President, Board of Education Ed-ucation of Park City School District, Summit County, Utah. Attest: be red . (Facsimile Signature) President, Board of Education Ed-ucation Attest: (F a c simile Signature) Clerk, Board of Education Section 5. That the President Pres-ident and the Clerk of the Board of Education are each hereby empowered and directed to sign, and the Clerk to cause the facsimile of the corporate seal of said board to be imprinted on each of said bonds, and the acts of said President and said Clerk in so doing are and shall be the act and deed of said Board of Education of Park City School District, Summit County, Utah. The use of the facsimile signature sign-ature of the President on the face of the bonds is hereby authorized. Section 6. That all covenants, cove-nants, statements, representations rep-resentations and agreements contained in said bonds and coupons, and all recitals and representations in this resolution res-olution and order, are hereby here-by considered and understood under-stood and it is hereby resolved re-solved that all said covenants, cove-nants, statements, representations rep-resentations and agreements of said school district, are the covenants, statements, representations and agreements agree-ments of the Board of Education Ed-ucation of Park City School District, Summit County, Utah. Section 7. That to pay the interest falling due on said bonds as the same becomes due, and also to provide a sinking fund for the payment pay-ment of the principal of said bonds at maturity, there shall be levied on all taxable tax-able property in Park City School District, 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. pro-vided. Said taxes when collected col-lected shall be applied solely for the purpose of the payment pay-ment of said interest on and principal of said bonds, respectively, res-pectively, and for no other purpose whatsoever until the indebtedness so contracted under this resolution, principal prin-cipal and interest shall have been fully paid, satisfied and discharged, but nothing herein contair.ed shall be so construed as to prevent said district from applying any other funds that may be in the district treasury and available avail-able for that purpose to the payment of said interest and principal as the same res- payment thereof shall, to the extent of such deficiency, be paid from other funds of the Board of Education available for such purpose, and such other funds reimbursed when the proceeds of said levies become available. Section 8. That said bonds shall be sold pursuant to resolution to be hereafter adopted. The Treasurer of the Board of Education is hereby instructed to make delivery of such bonds to the purchasers thereof as soon as may conveniently be after the adoption of the resolution confirming sale and to receive re-ceive payment therefor in accordance with the terms of sale and to set the proceeds of said sale aside into a separate sep-arate fund to be used for the purposes for which the bonds are herein authorized. Section 9. That this resolution res-olution shall be published one time in The Park Record, a newspaper of general circulation cir-culation printed and published publish-ed in Park City School District, Dis-trict, and for a period of thirty (30) days after such publication any person in interest shall have the right to contest the legality of this resolution or of the bonds hereby authorized or any provisions made for the security sec-urity and payment of such bonds. After such time no one shall have any cause of action to contest the regularity, regul-arity, formality or leealitv of this resolution or the bonds herein authorized for any cause whatever. Section 10. That all resolutions res-olutions and orders or parts thereof in conflict with the provisions hereof are hereby repealed. Adopted and approved this 25th day of February, 1975. Fay T. Dearden President, Board of Education Ed-ucation of Park "City School District, Summit County, Utah Attest: Stephen Badger Clerk, Board of Education of Park City School District, Dis-trict, Summit County, Utah After due consideration of said resolution by the Board Ronald Hannay seconded its adoption and the same on being be-ing put to a vote was unanimously un-animously carried by the affirmative vote of all members mem-bers present, the vote being be-ing as follows: Aye: Violet S. Terry Gary D. Boyle John C. Green Ronald Hannay Fay T. Dearden Nay: None on May 21, 1974; and WHEREAS none of the bonds voted at said May 14, 1974, election have heretofore hereto-fore been issued and delivered, deliver-ed, and it has been determined deter-mined to authorize the issuance is-suance and sale of $1,020,-000 $1,020,-000 of said bonds at this time; NOW', THEREFORE', Be It Resolved by the Board of Education of Park City School District, Summit County, State of Utah: Section 1. That under authority auth-ority of Chapter 14 of Title 11, Utah Code Annotated, 1953, otherwise known as the Utah Municipal Bond Act, there shall be issued by said board bonds in the amount of $1,020,000 for the purpose of raising money for purchasing pur-chasing school sites, for building orpurchasingoneor more schoolhouses, and supplying sup-plying the same with furniture furn-iture and necessary apparatus, ap-paratus, and for improving improv-ing school property under the charge of the Board of Education. Ed-ucation. Section 2. That said bonds shall be known as "School Building Bonds, Series April 1, 1975," shall be in the denomination de-nomination of $5,000 each, numbered 1 to 204, inclusive, dated April 1, 1975, shall bear interest from their date until paid at such rate or rates not exceedingeight per cent (8u) per annum as shall be fixed by resolution to be adopted at the time the bonds are sold, said interest being payable April 1, 1976, and semiannually thereafter on April 1 and October 1 of each year, and shall fall due serially in numerical order without option of prior re form of Bond) UNITED STATES OF AMERICA STATE OF UTAH SUMMIT COUNTY BOARD OF EDUCATION OF PARK CITY SCHOOL DISTRICT DIS-TRICT SCHOOL BUILDING BOND . SERIES APRIL 1, 1975 NUMBER $5,000 The Board of Education of " Park City School District, Summit County, State of Utah, hereby acknowledges itself to be indebted and for value received hereby promises to pay to the bearer bear-er hereof, without option of prior redemption, the sum of Five Thousand Dollars ($5,000) on the first day of April, 19 , with interest thereon at the rate of per cent ( ) per annum from the date hereof until paid, payable April 1, 1976, and semiannually thereafter on the first days of April and October of each year, said interest to maturity being be-ing payable only upon presentation pres-entation and surrender of the appropriate interest coupons hereto attached. Botti principal prin-cipal and interest are payable pay-able in lawful money of the United States of America at First Security Bank of Utah, N.A., inSalt LakeCity, Utah. This bond is one of an issue of $1,020,000 bonds of like date and tenor, except as to maturity (and interest rate), issued for the purpose of raising money for purchasing pur-chasing school sites, for building or purchasing one or more schoolhouses and supplying the same with furniture and necessary apparatus, ap-paratus, and for improving Clerk, Board of Education of Park City School District, Dis-trict, Summit County, Utah. (FACSIMILE SEAL) (Form of Coupon) Number $ On the first day of , 19 , the Board of Education Educa-tion of Park CitySchoolDis-trict, CitySchoolDis-trict, Summit County, Utah, will pay to the bearer hereof here-of at First Security Bank of Utah, N.A. in Salt LakeCity, Utah, the amount shown hereon in lawful money of the United States of America, Amer-ica, being the interest then due on its School Building-Bond, Building-Bond, Series April 1, 1975, dated April 1, 1975, and num-n pectively mature, and the levy or levieshereinprovid-ed levieshereinprovid-ed for may thereupon to that extent be diminished, and the sums herein provided for to meet the interest on said bonds and to discharge the principal thereof when due, are hereby appropriated for that purpose, and the required requir-ed amount for each year shall be included by the Board of Education in its annual budget bud-get and its statement and estimate es-timate as certified to the Board of County Commissioners Commis-sioners in each year. Principal Prin-cipal or interest falling due at any time when there shall not be available from the proceeds of said levies money suff ic ient for the |