The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1905-07-11
An Ordinance

AN ORDINANCE PROVIDING FOR
the issue and negotiation of eight hun
dred and fifty Thousand (SS50, zoo O0) dol
lars in water bonds and one hundred and
fifty thousand (SI50, OO0.eO) dollars in sewer
bonds of Salt Lake City, Utah
Whereas, BY a special election here
tofore duly called. and held on Jan 3.
empowered to issue and sell the bonds
hereinafter set forth and described TO
the amount herein mentioned; and
whereas, An advertisement for bids on
said bonds was heretofore made. and DldS
therefor were received and considered by
the council; and
Whereas, The Mutual Life Insurance
company of New York. being the highest
and best bidder. and its bid having been
accepted, became the purchaser of all OF
said bonds; now. therefore, -
Be it ordained by the city council OF
Salt Lake City, Utah:
Section l. That for the purpose OF eX-
tending and improving the water system
OF Salt Lake City now owned and to De
owned and controlled by said city, Sal
fifty (S50) water bonds of the denomin3-
ton OF one thousand dollars tSlOU0-uVl
each, cOnsecutively numbered from 1 70
$50. both numbers Included
Said bonds and each of them shall pe
except as 70 consecutive numbsrsl III
the following form. words and figures
and shall contain the covenants, repre-
sensations, dates and statements in the
following form contained; to-wit;
UNITED STATES OF AMERICA.
STATE OF UTAH
FA'VVV. N0tdlc Coat OF -ATHlS.J N4'VVV'
City of
SALT LAKE CITY.
WATER BOND.
Series D.
KNOW ALL MEN BY THESE PRE-
SCENTS That the city Of Salt Lake City.
in the state of Utah, for value received,
hereby acknowledges itself to be indebted
and promises to pay TO the bearer, or, II
JhlS bond be registered, to the registered
i9S5 the e sum of f1 oN SIi T TS ga DOL
LARS in gold coin of the United States
OF America of the present standard OF
weight and fineneSS with interest there
on at the rate of 4 per centum per an
mum, payable, in like gold coin, SEMI
annually on the lst day of April and the
LIST day OF October in each year. until
the principal thereof falls due upon the
presentation and surrender of the inter
orally become due, unless this bond shall
be registered. in which case the interest
S S pc payable TO the registered owner;
both principal and interest OF this bond
are payable at the United States Mort
sage & Trust company, in New York
This bond is one of a series of $50
ponds, numbered from l TO $50 both in
elusive, or like date, tenor and amount
ana is issued pursuant to sections sos,
$l9 and 80 of the Revised Statutes OF
Ctah OF 1925 and an ordinance passed
10y. =; 15Ut' Dy the CITY couhclI OF san
LAKE lily. approved Dy the mayor OF
said city Nov -. 1904, and has been au-
thorized by the electors of said city at a
special election held in said city Jan 3,
1905, for the purpose of extending and
improving the water system of said city,
TO be owned and controlled by said city.
This bond is subject to redemption at
any time after ten years after its date
or issue upon payment of the principal of
the bond and the interest then accrued.
The city council shall annually levy a
sufficient tax to pay the interest on this
bond as 1t falls due, and also 70 cOnsti-
tute a sinking fund for the payment Of
the principal thereof within twenty years.
1t is hereby certified that all cOndi-
lions, acts and things essential to the
validity of this bond. exist, have hap
pened and have been done, and that every
requirement of law affecting the issue
thereof has been duly complied with, and
that this bond is within every debt and
other limit prescribed by the constitution
and laws of said state; and that the
faith and credit of the city Of Salt Lake
City are hereby irrevOcably pledged "a
the punctual payment of the principal
and interest of this bond, according to
it's terms.
IN WITNESS WHEREOF. the city OF
salt Lake City has caused this bond TO be
signed by its mayor and its corporate seal
to be attached hereto, attested by its city
recorder. and the annexed coupons to
bear the fac-simile signatures of said
mayor and city recorder, as of the firsl
day of April, 1905.