| Show Ordinance 68 An ordinance providing for the submission to the voters of the City of Duchesne the proposition of improving and extending the present waterworks and sewage system of said and the issuance of water and sewer revenue and special assessment bonds of said City to defray the cost at a special election to be held in and for said City on the day of Be it ordained and enacted by the City Council of the City of Duchesne Section The Duchesne City Council hereby declares that public interest and necessity demands the installation of new and extended culinary water facilities and equipment and sewage facilities and equipment to promote the public health and welfare and to meet the increased demands for Section The installation of said facilities and equipment will necessitate the issuance of revenue bonds in the principal amount of One hundred seventy two thousand dollars and special assessment bonds in the principal amount of i Twenty eight thousand dollars Section Both types of bonds shall bear interest at a rate not exceeding four per per and will be due and payable serially or by term within forty years from the date of their Said revenue bonds will be paid solely and be secured the of the net revenues of the entire water works system of said Said special assessment bonds will be paid by an annual tax levy on all taxable property within the boundaries of said City sufficient to pay the interest on such indebtedness as it falls and the principal sum thereof will be paid from a sinking fund which shall be constituted for such purpose by said City Section The issuance of the special assessment as will not create an indebtedness in the aggregate with all other indebtedness in excess of twelve per cent of the taxable property within Duchesne Section The proposition to create such debt will be duly submitted to the vote of the qualified electors of this City at a special election to be according to for approval or Section It is this Council's judgment that it Is necessary to the health and welfare of this City that this Ordinance shall take effect immediately upon It's approval and Passed and approved by the City Council of the City of Duchesne on the day of ROY Mayor Luran L. Recorder Published September |
