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

s'oou, ana IL is hereby ordoi,
ed and declared that said covena a.n-
statements. representations ma
reements therein are the covanos-
statements representations ana
reements of Logan City. And "s
further stated and Represented ~
said Logan City is a municinai mat
poration and city of the sa VT
class under the constitution o
laws of the State of Utah. ana
The Board of COMMISSIONS
Logan City shall annually lew a s, VI
ficient tax to pay the interest on ssn,
bonds as 1t falls due and also 70 o u
stitute sinking fund for tho nO MI
ment of the principal thereof as pay az
same becomes due. 'ne
The interest falling due on Apru
1, 1917. and October 1, 1917, shall
be paid out of the general reyennat
FUND OF the City. and for the mr.
pose of reimbursing said general rev
enue fund for said two semi-annnel
installments of interest, and to moo,
the interest accruing on said bonds
on April !, 1918 and October
1918. and also for the purpose n,
constituting sinking fund to nav
one-twentieth of the principal of saiJ
bonds in each year. there shall no
levied in the year 1917 on all of tho
taxable property in said City, in adj.
dition to all other taxes, direc,
annual tax sufficient to produce the
sum of Three Thousand Dollars
$3,000.00): that in order to raise
the necessary funds with which to
pay the interest due on April I 1919
and thereafter up to and including
October 1, 1886. promptly and as the
same accrues, and also for the pur-
pose of constituting sinking fund
to pay one-twentieth of the princip.
al OF said bonds in each year, there
shall be levied in each OF the years
1918 to 1885, both inclusive on
all the taxable property in said City,
in addition to all other taxes, dir
ect annual tax sufficient to produce
the sum of One Thousand Five Hun
dred Dollars ($1,5OO.OO) in each
year; and said taxes, when collected.
shall be applied solely for the pur-
pose of the payment OF said interest
and the principal of said bonds res
pectively, and for no other purpose
whatsoever. until the Indebtedness
principal and interest. shall have
been fully paid, satisfied and dis
charged, but nothing herein contain
ed shall be so construed as to pre-
vent said City from applying any
other funds that may be in the City
| treasury and available for that pur-
pose to the payment of said interest
or principal, as the same respective
| ly mature. and the levy or levies
herein provided for may thereupon
to that extent be diminished.
| And the sums herein provided for
| to meet the interest on said bonds
and to discharge the principal there
of when due are hereby appropriated
for that purpose and said amount for
| each year shall also be included in
the annual appropriation bills passed
| by the Board of Commissioners Of
said City in each year respect
| lively.
1t shall be the duty of the Board
Of Commissioners OF said City, annu-
ally at the time and in the manner
provided by law for levying other
city taxes, IL 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 officers
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 hereinabove specified.
! AND BE 1T FURTHER ORDAlN'
ED that the offer of said T.. II
Rollins & Sons to purchase said
bonds at price of not less than their
par value and accrued interest and
I, to take up and pay for said bonds
on or before the 18th day of Novem
Der A. d. 1916, Is hereby accept
ed and the issuance and delivery OF
said bonds to E. II. Rollins & Sons
is hereby directed and authorized OF
receipt from +. II. Rollins & Sons OF
the purchase price.
| AND BE 1T FURTHER ORDAIN
ED that all ordinances of Logan City
| in conflict with this ordinance are
hereby repealed; and that after said
bonds are issued, this ordinance shall
be and remain irrepealable unit
said bonds and the interest thereon
shall have been fully paid, satisfied
and discharged as herin provided.
AND BE 1T FURTHER ORDAlN
ED that this ordinance Immediately
on its passage shall be deposited in
the Office of the City Recorder, re-
corded in the book of ordin'
ances of said City kept fol
that purpose. authenticated by
the Mayor OF said City, attesteC
by the City Recorder. and approved
by the said Mayor, and shall be pub
lished in one issue of the Logan Re
publican, newspaper published anC
of general circulation in the sale
City. and shall take effect and b'
enforced Immediately upon and after
publication.
Passed by the Board of Commits
sioners OF Logan City, Utah, this
23rd day of October, A. ID. 1916.