The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1905-07-04

AN ORDINANCE PROVIDING FOR
the issue and negotiation of eight hum
dred and fifty thousand C$S50. 600 Oo) doll
lars in water bonds and one hundred and
1l1ty thousand (Sl50. 000-00) dollars in sewer
bonds OF Salt Lake City, Utah. ,o-o
whereas BY special election mere
sotore duly called. and held on Jan. ):
1855, Salt Lake City was authorized ana
empowered 70 issue and sell the BOMBS
hereinafter set forth and described TO
the amount herein mentioned; and
.Mhereas, An advertisement for bids on
said bonds was heretofore made. and bids
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 or
BE II ordained by the city council or
Salt Lake City, Utah:
Section I. That for the purpose of ex-
tending and improving the water system
OF Salt Lake City now owned and TO be
owned and controlled by said city, Salt
fifty $50 water bonds Of the denomina-
ton OF one thousand dollars 81 600 O0)
each consecutively numbered from 1 10
800 both numbers included.
Said bonds and each OF them shall be
except as 10 consecutive numbers) IN
and shall contain the covenants, repre-
Sentatons. dates and statements in the
5n9llowlng form contained; to-wit:
UNITED STATES OF AMERICA.
STATE OF UTAH.
Fl0Oo. Estate Coat of Arms) sl,ooo.
City of
SALT LAKE CITY
WATER BOND.
Series d.
KNOW ALL MEN sBY THESE PRE-
SEN is, That the city of Salt Lake CITY.
IN the state of Utah, for value received,
and promises 10 pay 70 the bearer, or, II
TINS bond be registered, 10 the registered
1SS5 III hereof on The first day > Of APT 1
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 a Der centurn per an
mum. payable. in like gold coin. semi
annually on the LIST day OF April and the
lSt day OF October in each year, until
the principal thereof falls due upon the
presentation and surrender of the inter
CSt coupons hereto annexed as Ihey sew
erally become due,-unless this bond shall
be registered. in which case the interest
shall be payable to the registered owner
both principal and interest Of TINS POND
gage * Trust company, in New York
Tnis bond is one of series of $50
bonds. numbered from / 10 $50. both in
elusive, of like date, tenor and amount,
and is issued pursuant to sections sos.
500 and 80 of the Revised Statutes of
ltah of 1898. and an ordinance passed
NOV. y. 1904, by the city council of Salt
Lake city, approved by the mayor OF
said city Nov -. 1904, and has been au-
thorized by the electors of said city at
special election held in said city Jan. .,
Improving the water system Of said city
10 be owned and controlled by said city.
This bond is subject to redemption at
any time after ten years after its date
OF 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
pond as 1t falls due, and also to consti-
tute a sinking fund for the payment OF
the principal thereof within Uwenty 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 TO
the pUnctual payment of the principal
and interest of this bond, according to
its terms.
IN WITNESS WHEREOF. the city OF
Salt Lake City has caused this bond to be
signed by its mayor and it's corporate seal
to be attached hereto. attested by its city
recorder, and the annexed coupons 70
bear the fac-simile signatures of said
mayor and city recorder. as of the first
day of April. 1905.