Show A RESOLUTION A RESOLUTION confirming the sale and authorizing the is issuance issuance issuance is- is of General Obligation Bonds Series 1968 of D Davis County Utah providing fp the payment payment payment pay pay- ment of such bonds and levying taxes and ordering publication of this resolution WHEREAS an election was duly called and held in Davis County Utah on June 4 1968 and at said election the following following following follow follow- ing proposition was carried by a vote of of the qualified voters of Davis County who had paid a property tax therein in the year preceding said election election election elec elec- tion voting for said proposition and 2087 of such voters voting against such proposition Shall Davis County Utah incur debt and issue general obligation bonds to the amount i rf f to mature mature mature ma ma- ture seri serially in not more than thirty five 35 years from their d date te or dates and to bear interest at a rate or rates not in excess of six per percent percent percent cent 6 per cent per annum for the purpose of paying part of the cost of erecting hospital hospi hospi- tal facilities in and for Davis County including the acquisition acquisition acquisition tion of suitable sites and all necessary furnishings and equipment and WHEREAS none of the bonds so voted at said election have heretofore been issued and delivered delivered delivered de de- de- de livered and it has been determined determined determined deter deter- mined to authorize the issuance I and sale of of said I bonds at this time and I i WHEREAS said bonds have heretofore been offered offered of of- I 1 to the Department of Fi- Fi due October 1 1972 to bear interest at per annum 1973 1974 1975 k 1976 1977 1971 6 1978 1979 1980 1981 1982 1983 1984 1985 44 1986 44 1987 1988 44 I due October 1 1989 to bear interest interest at per annum f 1990 1991 1992 1993 1994 1995 1996 1997 1997 1998 A. A I I t 1 1 t to be in coupon form in denomination denomination denomination denom denom- of as warranted and described in the official notice of sale which is hereby made a part of this bid and to all the representations and warranties warranties warranties war war- of which this bid is subject subject subject sub sub- we will pay par and accrued accrued accrued ac ac- interest plus a total premium premium premium pre pre- of NONE This bid is subject to our being furnished without cost to us at t the time of or prior to the delivery of the bonds with the satisfactory unqualified legal of Chapman Chapman Chapman Chap Chap- man and Cutler Attorneys Chicago Illinois approving the validity of the issue which opinion will be printed on the Bonds On the basis of the above bid we calculate the net interest interest interest inter inter- est cost to the County as follows follows follows fol fol- fol- fol lows provided none of the bonds I are called prior to maturity I Gross Interest Cost I Less Premium Bid None Net Interest Cost I INet Net Effective Rate pc As evidence of our good faith j in bidding there is enclosed a check for drawn to the order of the County Treasurer of Davis County Utah which check is to be retained as partial partial partial par par- payment for the total purchase purchase purchase pur pur- chase price named herein if we weare weare weare are awarded the bonds or returned returned returned re re- re- re turned immediately if our bid is not accepted This bid is for prompt acceptance ac ac- ac- ac j Very Truly Yours FIRST NATIONAL CITY BANK HUTCHINSON SHOCKEY ERLEY I nance of the State of Utah which department has waived I the right to purchase said I bonds and I WHEREAS a notice inviting sealed bids for the purchase of said bonds has been advertised and brought to the attention of potential purchasers purchasers purchasers pur pur- chasers and the bids received pursuant to such notice have been tabulated and it has been found that the bid of First National National National Na Na- City Bank of New York New York and associates is the highest and best bid received received received re re- re- re for the purchase of said bonds said bid reading in full fullas fullas fullas as follows First National City Bank 55 Wall Street New York N. N Y October 2 1968 Board of or County Commissioners Commission Commission- ers of Davis County Utah Courthouse Farmington Utah Dear Sirs For all but no part of the following described legally issued properly executed general general general gen gen- eral obligations obligations' of Davis County County County Coun Coun- ty Utah namely General Obligation Hospital Bonds Series 1968 to be dated October 1 1968 to mature each October 1 1972 98 1972 98 inclusive inthe inthe in inthe the amounts shown below Bonds due 98 1984 inclusive tobe tobe to tobe be callable at the option of the Board of County Commissioners Commission Commission- ers in inverse numerical order on October 1 1983 and on any interest payment date thereafter thereafter thereafter there there- after prior to maturity at par and accrued interest to the date fixed for redemption plus a premium of 2 per cent of the principal amount of each bond bondI so BO called for redemption to bear interest at the rates per annum specified below payable April 1 1969 and semiannually semi-annual- semi ly thereafter on October 1 and April 1 l CO By A. A J. J Sr Vice Pres Zions First National Bank NOW THEREFORE Be It Resolved by the Board of County County County Coun Coun- ty Commissioners of the County of Davis Utah as follows Section 1 That under authority ty of Chapter 14 of Title 11 Utah Code Annotated 1953 as amended otherwise known as the Utah Municipal Bond Act for the purpose of paying I I part of the cost of erecting hospital hospital hospital hos hos- hosI pital facilities in and for Davis County including the acquisition tion of suitable sites and all necessary furnishings and equipment there shall be issued the bonds of Davis County in the sum of Section 2 That said bonds shall be designated General i Obligation Hospital Bonds Series Series Series Ser Ser- ies 1968 shall be in the total principal amount of I Ishall shall be dated October 1 1968 shall be in the denomination of numbered 1 to inclusive inclusive in in- inI I shall bear interest from rom date until paid at the rate or rates hereinafter set out payable payable payable pay pay- able April 1 1969 and semiannually semiannually semiannually semi- semi annually thereafter on the first days of April and October of each year The bonds shall be payable as to both principal and interest in lawful money of the United States of America at Zions Zion's First National Bank One South Main Street in Salt Lake City Utah and shall mature mature mature ma ma- ture serially in numerical order on October 1 of each of the years and shall be numbered and bear interest as follows t Bond Numbers Amount Interest Rate Year I I 1 to 4 1972 5 to 8 1973 9 to 12 1974 13 to 16 1975 17 to 21 1976 22 to 26 1977 27 to 31 1978 32 to 36 1979 37 to 42 1980 43 to 48 1981 49 to M 54 1982 55 to 61 1983 62 to 68 1984 69 to 75 44 1985 76 to 82 1986 1936 83 to 90 1987 91 to 98 1980 99 to 1989 to 1990 to 4 oS 0 1991 to 1992 to 1993 tp 1994 to 1995 to 1 1996 to 1997 to 1998 I Bonds numbered 62 to inclusive shall be callable for redemption in inverse numerical numerical numerical numer numer- ical order at the option of the county on October 1 1983 and andon andon on any interest payment date thereafter at par and accrued interest to the date fixed for redemption plus a premium of two per cent 2 per cent of the principal amount of or each bond so redeemed prior to maturity At least thirty days notice of the call for redemption shall be given by publication one time in ina ina ina a financial newspaper or journal journal journal jour jour- nal published in the City of New NewYork NewYork NewYork York and by registered mail directed to the bank at which the bonds are arc payable and to Burrows Smith and Company Kearns Building Salt Lake City Utah Section 3 That said bonds shall be signed by the Chairman Chairman Chairman Chair Chair- man of the Board of County Commissioners attested by the County Clerk the signature of said Chairman being by facsimile ile and shall have the facsimile ile of the official seal of Davis County imprinted thereon Interest Interest Interest In In- terest falling due on said bonds bondson on and prior to maturity shall be evidenced by appropriate coupons to be thereto attached wl which ch coupons shall be signed by said officials by their facsimile facsimile facsimile fac fac- simile signatures and said officials officials officials by the execution of said bonds shall adopt as and for their own proper signatures their respective facsimile signatures signatures signatures sig sig- sig- sig natures appearing on said cou cou- pons Section 4 That the bonds and the coupons to be thereto attached shall be in substantially substantially substantially the following form Form of Bond UNITED STATES OF AMERICA STATE OF UTAH DAVIS COUNTY GENERAL OBLIGATION HOSPITAL BOND Series 1968 Number KNOW ALL MEN BY THESE PRESENTS that Davis County Utah hereby acknowledges it itself itself itself it- it self to be indebted and for value value value val val- ue received hereby promises to pay to the bearer hereof the sum of Five Thousand Dollars on the first day of October 19 19 with interest thereon at the rate of per cent per per cent per annum from date until paid payable April 1 1969 and semiannually semiannually semiannually semi- semi annually thereafter on the first days of April and October of each year interest falling due dueon dueon dueon on and prior to maturity being payable upon presentation and surrender of the attached interest interest interest inter inter- est coupons as they severally become become become be be- come due Both principal of and interest on this bond are payable payable payable pay pay- able in lawful money of the United States of America at Zions Zion's First National Bank One South Main Street in Salt Lake City Utah This bond is one of an am issue of bonds numbered 1 to inclusive all of like date tenor and effect except as to maturity right of redemption redemption redemption re re- re- re and interest rate issued by Davis County under and pursuant to the provisions of the Constitution and laws of the State of Utah including particularly the Utah Municipal Bond Act Chapter 14 of Title 11 Utah Code Annotated 1953 as amended for the purpose or oi paying part of the cost of erecting erecting erecting erect erect- ing hospital facilities in and for Davis County including the acquisition acquisition acquisition ac ac- ac- ac of suitable sites there there- for and all necessary furnishings furnishings furnishings furnish furnish- ings and equipment and is issued pursuant to a resolution resolution resolution reso reso- lution adopted by the Board of Commissioners of said county on October 2 1968 after having been duly authorized at an election held on June 4 1968 by the qualified voters of said county who paid a property tax ta therein in the year preceding preceding preceding ing said election Bonds numbered 62 to I inclusive of the issue of which I this is one are callable for redemption redemption redemption re re- I in inverse numerical order at the option of the county county coun coun- I ty on Oct 1 1983 and on any interest payment date thereafter ter at par and accrued interest I to the date fixed for redemption tion plus a premium of two per cent 2 per cent of the principal amount of each bond so redeemed prior to maturity At least thirty days notice of the call for redemption shall be given by publication one time in ina ina ina a financial newspaper or journal journal journal jour jour- nal published in the City of New York and by registered mail sent to the paying agent bank and to Burrows Smith and Company Kearns Building Salt Lake City Utah The Board of County Commissioners Commissioners Commissioners Com Com- missioners of Davis County hereby covenants and is by law required to levy annually on all taxable property in said county a sufficient tax to pay the interest on this bond as it falls due and also to constitute a sinking fund for the payment of the principal hereof when due It is hereby certified recited and declared that all acts conditions conditions conditions con con- and things essential to the validity of this bond have happened and have been done in regular and due time form and manner and that every requirement requirement requirement re re- re- re of law affecting the issue hereof has been duly complied complied complied com com- plied with and that this bond is within every debt and other limit prescribed by the Constitution tion and Laws of the State of Utah nd that the full faith credit and resources of or Davis County are hereby irrevocably bly pledged to the punctual payment payment payment pay pay- ment of principal of and interest interest interest inter inter- est on this bond according to its terms IN WITNESS WHEREOF Davis County Utah acting through its Board of County Commissioners has caused this bond to be signed by the Chairman Chairman Chairman Chair Chair- man and attested by the Clerk of said county the signature of said Chairman being by facsimile ile and has caused the facsimile facsimile facsimile fac fac- simile of the corporate seal of said county to be imprinted hereon and the annexed interest coupons to be signed with the facsimile signatures of said Chairman and Clerk which officials by the execution hereof here here- of do adopt as and for their own proper signatures their facsimile signatures appearing on each of said coupons all as of the first day of October 1968 Facsimile Signature Chairman Attest County Clerk FACSIMILE SEAL Form of Coupon Number On the first day of 19 19 unless the hereinafter mentioned bond is then subject to the right of redemption and said county has duly provided for the exercise of such right Davis County Utah will pay to the bearer hereof at Zions Zion's First National Bank One South Main Street in Salt Lake City Utah the amount shown hereon in lawful money of the United States of America being the interest then due on its General General General Gen Gen- eral Obligation Hospital Bond Series 1968 dated October 1 1968 and numbered Facsimile signature Chairman Attest Facsimile signature County Clerk Section 5 That the Chairman and County Clerk are each hereby empowered and directed to sign and the County Clerk to cause the facsimile of the seal of the county to be imprinted imprint imprint- ed on each of said bonds and the acts of said Chairman and County Clerk in so doing are and shall be the act and deed of said Davis County Utah The use of the facsimile signature of the Chairman on the face of the bonds is hereby author author- Section 6 That there shall be and is hereby levied in each year while any of said bonds is outstanding and unpaid in addition addition addition addi addi- tion to all other taxes authorized by the Constitution and Laws of the State of Utah an unlimited tax on all taxable property in Davis County fully sufficient to pay the interest on said bonds as the same shall become due and to pay the principal of said bonds falling due in each year Beginning with the year 1968 the appropriate officials of Davis County Utah shall without without without with with- out further instructions or direction direction direction tion from this Board of County I Commissioners extend and collect collect collect col col- col- col lect the aforesaid tax which shall be devoted and solely to the payment of intel est on and to the creation of a sinking fund for the payment of the currently maturing principal principal pal of the bonds herein authorized authorized authorized author author- as they fall due in each and every year until all of said bonds are retired Principal or interest falling due at any time when the proceeds of said tax levy may not be available shall be paid from other |