Show ordinance OKOl NANCE NO an am ordinance creating an indebtedness on behalf of tile the city of 0 roosevelt Koo sevelt utah and upon the credit thereof the by issuing the thone noi goti got able lable coupon bends of said city in tile amount of twelve thousand five linuci hundred ed dollars for the purpose of purchasing I 1 the works and system of tile roosevelt waterworks Water works company a corporation and improving and ev extending tending the same said system to be owned and controlled by the municipality prescribing tile alio form of said bonds and prod pro for the levy of t a tax on all tile the taxable property within said city sufficient to pay the interest and to eXt extinguish Ingish tile the principal of such debt whereas in full conformity with the constitution and laws of the state of utah and ordinances ot of the city ot of roosevelt utah and the qualified if led electors ol of said city havies authorized zed the city council to purchase the works and system ot of the roosevelt water works company a corporation po ration and improve and extend the same into a sufficient system to provide the inhabitants ot of said city with water for domestic and fire extinguishing gui gul shing purposes said system to be owned and controlled by said city and tor for that purpose at supply supplying mg said city wilba raab vatere as aforesaid have likewise authorized the city council to contract indebtedness on behalf of said city and on the thereof in the sum of twelve thousand five hundred dollars tor for purchase and extension and improvement ot of said water works sye system and whereas the city council ot of said city alty deem it expedient to purchase ind and proceed with tile extension and improvement ot of such water works system tor for the purposes aforesaid and ad the benefits of such water tern tem being equal equa in said city likewise like wise deem it expedient and necessary to contract the necessary indebtedness Indebted nesb nesi on 1 behalf of said city and the credit 01 thereof h ereon by issuing the negotiable coupon bonds ot of the said city in the sum of therefore BE IT ORDAINED BY THE CITY COUNCIL OP OF THE CITY VELT IN THE COUNTY OF yr DUCHESNE STATE OP OF UTAH section 1 that the city of roosevelt utah purchase the works and ana system of the roosevelt water works company a corporation and extend a and d improve the same to such extent and and capacity as to the said city coun conn oil cil may appear necessary tor for the needs of the inhabitants of said city a and con such e ll 11 system to be owned ana controlled ll 11 e d by ther the said city section 2 that for the of purchasing extending and improving such water works system the said city shall issue its negotiable interest bearing coupon bonds in the aggregate amount of twelve thousand five hundred dollars consisting of twenty five bonds in the denomination of five hundred dollars each payable in lawful money ot of the united states and bearing in terest from and after the fir saday first day ot of july 1910 at the rate of six per per annum payable semian dually on the first days of each year and evidenced by coupons attached to said bonds said bonds shall be numbered in rl regular g and consecutive order commencing with number one and shall bo be absolutely due and payable la in ordel of theli their number on the first day ot of july A D 1936 with jhb reserved right and privilege to redeem said ealo bonds at the option of 0 said city on or after the first day ot of july A D 1926 said bonds and the coupons attached thereto shall be raydale at ai the roosevelt banking company lit in the city of roosevelt utah and said bonds shall bear date the first day da of 0 july 1916 and shall be signed by tho the mayor of said city attested by the city recorder under seal of said city and countersigned counter signed by the city treasurer and shall be registered in a book kept for that purpose by the thel city recorder and said recorder shall indorse on each of faiq bonds tho certificate required by bv of the compiled laws of utah 1907 all coupons shall bear the tac fac signature of the city treasurer and as thus executed shall be the binding obligations of the said city tor for the interest evidenced thereby section 3 the said bonds and coupons attached thereto shall be la in substantially stant lally ly the following form form of bond UNITED STATES OP OF AMERICA state of utah county of duchesne CITY OF ROOSEVELT ROOSEVELT waterworks WATER WORKS BOND series of jury july 1st alst 1916 no the city of roosevelt in the county ot of Duc duchesne besne state ot of utah here itself to be indebted and hereby promises prom to pay to bearer tor for value received five hu hundred adred dollars in lawful deoney ot of tho ohp united states of 0 america on the first day july A D 1936 with interest thereon at the rate ot of six per per annum payable semiannually on the first days ot of jury july and january in each year upon presentation ot of the annexed coupons and this bond as they severally become due principal and interest payable at the roosevelt banking company roosevelt utah tile the city of roosevelt reserves the tha right however to pay and redeem this bond at any time before the maturity thereof alter after the first day ot of july this bond la is issued by the city council of the city of roosevelt tor for the purpose of supplying the city with water by purchasing the works and system of the roosevelt water works company a corporation and improving and extending the same such system to be owned and controlled by br the municipality under au authority thorit and tn in full conformity with the ca constitution ution of the state ot of utah the provisions of chapter twenty tour four title thirteen of 0 the compiled laws ia of utah 1907 1111 and all amerida amendatory lory and nd supplemental acts thereto and in full conformity with all other othe ruty 1 ivy of at the state of utah thereunto peri i laining and in pursuance ot of an ord cnance of said bald city dupy duly adopted and made mad a taw law of said city prior to the issuance of this bond and it la Is hereby certified and recited that the question ot of the issuance of 0 it this bond was prior to the issue thereof duly submitted to the qualified electors ele thereof ot of said city at an election held therein on the seventeenth das ot of february 1916 at which elect election rotC a majority of 0 the qualified electors voting on thel the question tion voted in favor of incurring such indebtedness and ana the requirements of 0 law have been fully complied with by the proper officers of said city in the issue of this bond and that the total debt ot said city including that of this bond does not exceed any limit of indebtedness prescribed by the constitution or laws of the state of utah and that thai provision has been made tor for the levy and collection of an annual tax upon all taxable property within such city suM sufficient elent to pay the interest on and ana extinguish the principal of this bond when the same become due the faith and credit of the city of oc o C roosevelt are hereby pledged for the punctual payment of the principal and interest of this bond in TESTIMONY WHEREOF thi the city council of the city of roosevelt has caused ibm bondi to be ba figued sl gued by the mayor of said city attested by the recorder thereof under seal ot said bald city and countersigned counter signed by its treasurer as of the first day of july IA A D 1916 1 0 H BRACKEN mayor attest J 0 klag king city Re Reco cordez rdOE seal countersigned Counter signed y 1 EDWARDS gity city treasure treasur form of coupon no 1500 on the first day of july A D 19 tho them city of roosevelt duchesne county utah will pay the bearer fifteen dollars in lawful money of the united states of america at the tha roosevelt banking company roose velt utah being six months interest on roosevelt water works bond series of tuly 1916 no HOMER P EDWARDS city treasurer form ot of certificate indorsed endorsed Indor sed on bond I 1 hereby certify that the within bond Is issued according to law and Is within the lawful debt limit of the I 1 city of roosevelt utah in WITNESS WHEREOF I 1 have hereunto subscribed my name as city recorder ot of the city of roosevelt and affixed tho the seat of said city at the thel city ot of roosevelt this day 0 of 1916 seal 3 0 KING city recorder section 4 ehst the said bons when executed be delivered to the purchaser thereof and said bonds and the funds raised thereby shall b be e applied solely tor for the purpose described in said bonds but the purchaser thereof shall in no way be responsible pon sible for the application or disposal by said eaid city or any officer thereof of any of the funds derived from the sale of said bonds section 5 that in order to meet and furnish funds to pay the accruing interest on said bonds bond on the first day ol of january A D 1917 and tile the first day ot of july A D 1917 there shall be levied in tile the year 1916 on all of 0 the taxable property in sald said city in addition to all other taxes a direct annual tax sufficient to produce the sum bum ot of seven hundred fiffi dollars that no sinking fund shall be created until the year 1926 that in order to raise the necessary funds with which to pay the tha interest due january let 1918 and july alst and thereafter ano ana up to and including july let 1926 promptly as the same accrues there shall be levied in each year of the years 1917 to 1925 inclusive on all of the taxable property in said c city I 1 ty in addition to all other taxes a direct annual tax ax sufficient to produce tho the sum of seven hundred fifty dollars in each year and said taxes when collected shall be applied I 1 solely to the payment ol of the interest on said bonds and tor for no other purpose whatever and in order to raise the necessary funds to pay the interest accruing on said bonds january 1927 and july 1327 1927 and thereafter up to and in eluding july 1936 1939 also tor for 6 purpose of creating and constituting a sinking fund to pay one tenth or the principal of said bonds each year thereafter there shall be levied in the years 1926 to 1935 inclusive on all the taxable property la in said city in addition to alt all other taxes a direct annual tax sufficient to produce the sum of two thousand dollars in each ol of said years and said taxes when collected shall bi be applied solely tor for the purpose of 0 the payment ot of the interest and the principal ot of said bonds respectively and tor for no other purpose whatever until the indebtedness so con traded under this ordinance shall have been fully paid satisfied and discharged but bint nothing herein contained shall be so BO construed as to prevent said city from applying any other funds that may be in the city treasury and available tor for that purpose to tile the payment of the interest or principal on said bonds as the tha same respectively mature and the levy or levies herein provided lor for may to that extent be diminished anil ane upon the payment ot of the principal of any of the bonds issued here under in said manner or by the use ot of the sinking fund herein pr provided ovidea for or the said levies for the payment ot of interest on the bonds so paid may be dimInI diminished sUed and the sums hereinbefore pro bided vided for to meet the interest on sala said bonds and to discharge the principal pa thereof when due are hereby ampro for that purpose and the said amount ot of each year shall also be included in the annual tion bills passed by the city council of said city each year respectively section 6 it shall be the duty 01 0 the city council ot of said city annually at the time and in the manner mann provided tor for by law tor for levying other otil i oily city taxes wherein such action Is necessary to effectuate the provisions ot of this ordinance with reference to the levying and collecting of taxes and shall require the officers of and tor for said city to levy and extend and collect such taxes in tile the manner provided by law tor for the purpose ot of ere sting a fund for the payment of 0 thy the interest and principal of 0 saidi banda and such taxes when collected shall be kept for and applied only to tile the payment of the interest and prin principal cipa as ae hereinbefore specified section 7 whenever after the expiration pi ration of 0 ten years from the date of said bonds the city has money in said sinking funds fundis sufficient and available to redeem any of said bonds and tor for that purpose and desires t to exercise its option to redeem the city council shall by resolution exer cise such option specifying the amount of bonds to be so ser redeemed and thereupon tile the city treasurer shall call in and pay and redeem said amount of bonds in numerical ord er beginning with the lowest num bared bond then outstanding he shall call in said bonds by publishing for I 1 at least thirty days in a 2 newspaper ot of general lit them said city of roosevelt and in a similar paper in salt lake city utah a notice stating that he will on or be fore a certain date named therein which shall be at least twenty eight days after the first publication of said notice pay andi and redfern redeem certain of said bonds giving their numbers and date on or before the date ot the first publication of said notice and in case any of such bonds are not presented tor for payment on or be fore the date mentioned in said notice nt at the place whereby the terms thereof they ara payable then such funds tor for their payment shall remain lu iii the city treasury to pay such bonds when they are presented but all such bonds shall cease to draw interest after the date fixed in said notice for their redemption section 8 the city recorder shall make a list of the bonds issued under tills this ordinance as required by lawn law and keep the tha same in his office section 9 the bonds issued under this ordinance shall be exempt front taxation by the city ot of roosevelt velt section 10 all ordinances of the th city of roosevelt in conflict with this ordinance are hereby repealed thin ordinance shall be and remain pea lable until said bonds and the interest thereon shall have been fully paid and discharged as herein pro vided aided section 11 this ordinance imms imme upon its passage shall be deposited in the office ot of the city recorder recorded in the book of ord finances of said city signed by the tha mayor of said city and attested by the city recorder under seal of the said city and shall be published in the roosevelt standard a newspaper published in said city and of circulation and shall take effect upon due according to law passed and approved by the city council of the city of roosevelt utah this day of july 1916 1919 0 H BRACKEN mayor seal attest J 0 king city recorder |