The Logan Republican. [volume] (Logan, Utah) 1902-1924, 1916-10-26
City Recorder


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City Recorder
Said bonds and each OF them shall
be signed by the Mayor of said City
and its City Treasurer, signed and
attested by the City Recorder, and
sealed with the seal of said Logan
City, and the said coupons shall bear
the fac-simile signature of the City
Treasurer. The Mayor of Logan
City and the City Treasurer of said
City are each hereby empowered and
directed to sign, and the City Re-
corder of said City to sign, attest
and aflix the seal of said
City to each of said bonds,
and the acts of said Mayor,
Treasurer and City Recorder in so
doing are and shall be the act and
deed of said Logan City.
All the covenants, statements, rep
reservations and agreements contain
ed in said bonds and coupons. and all
recitals and representations in this
ordinance are hereby considered and
understood, and it is hereby ordain-
ed and declared that said covenants,
statements, representations and ag-
reements therein are the covenants,
statements, representations and ag-
reements Of Logan City. And II is
further stated and represented that
said Logan City Is munic-
ipal corporation and city of the
second class under the Constitution
and Laws of the State of Utah.
The Board of Commissioners of
Logan City shall annually levy suf-
ficient tax to pay the interest on
said bonds as it falls due and also
to constitute sinking fund for the
payment of the principal thereof as
the same becomes due.
The interest falling due on said
bonds on April l, 1917 and October
/, 1917, shall be paid out of the gen.
eral revenue fund of the city. and for
the purpose of reimbursing said gen.
eral revenue fund for said two semi
annual installments of interest, and
to meet the interest accruing on
said bonds on April l, 1918 and Oc-
tober /, 1918, and also for the pur-
pose of constituting a sinking fund
to pay one-twentieth Of the princi-
pal of said bonds in each year,
there shall be levied in the year
1917, on all of the taxable property
in said city, in addition to all other
taxes, a direct annual tax sufficient
to produce the sum of Fourteen
Thousand DollarJ 4,900.0O);
that in order to raise the necessary
funds with which to pay the interest
due April /, 1919 and thereafter up
to and including October l, 1885,
promptly and as the same accrues,
and also for the purpose OF consti-
tuting a sinking fund to pay one
twentieth of the principal of said
bonds in each year, there shall be
levied in each of the years 1918 to
1895, inclusive, on all of the tax
able property in said city, in addition
to all other taxes, a direct annual
tax sufficient to produce the sum of
Seven Thousand Dollars (S7 100000
| in each year: and said taxes, when
collected, shall be applied solely for
the purpose of the payment of said
interest and principal of said bonds,
respectively, and for no other pur-
| pose whatever, until the Indebted
! ness so contracted under this ordin-
ance, principal and interest. shall
| have been fully paid, satisfied and
| discharged, but nothing herein con-
| tanned shall be SO construed as to
prevent said city from applying any
other funds that may be in the city
| treasury and available for that pur-
pose to the paymen of said inter-
! est or principal, as the same res
pectiyely mature, and the levy or lev
| les herein provided for may there
upon to that extent be diminish
| ed.
| no n nrnUtHn1
to meet the interest on said bonds
and to discharge the principal there
! of when due are hereby appropriat-
! ed for that purpose and said amount
| for each year shall also be included
in the annual appropriation bills
passed by the Board of Commission
ers of said city in each year respec-
lively.
1t shall be the duty of the Board
of missioners of said city, an
nually, at the time and in the maner
provided by law for leyying other
city taxes. II such action shall be
necessary to effectuate the provisions
of this ordinance, to ratify and carry
out the provisions hereof with refer
ence to the levying and collection
of taxes; and shall require the otiic-
ers of and for said city to levy,
extend and collect such taxes in the
manner provided by law for the pur-
pose of creating fund for the pay
ment of said bonds. and such taxes,
when collected, shall be kept for and
applied only to the payment of the
interest and principal of said bonds
as hereinbefore specified.
AND BE 1T FURTHER ORDAIN-
ED that for the purpose of raising
funds to defray the expense of re-
building. repairing, reconstructing.
extending and otherwise improving
the present electric lighting system
in said Logan City. for the purpose
of more adequately providing a
means of supplying electric light for
said city and for the inhabitants
thereof, the electric lighting system
is now and shall be owned and con-
trolled by said municipality, said
| Logan City does issue Fifteen (1b)