The Sun. [volume] (Price, Utah) 1915-1932, 1919-07-04
ORDINANCE 40. so-NN oRDIN.

ORDINANCE No. aO--AN ORDIN-
anyc Contracting An Indebtedness
uu Behalf ~ the city 81 Price.
Utah. ana Upon the Credit Thereof.
By irHuing the Negotiable Coupon
bonds ~ Said city In tho Amount
ct one Hundred aus Seventy Thou.
rfud Dollars. For the Purpose ~
Supplying said city with Water ~
Improving the Water System Now
owned and Controlled iiy the city,
Prescribing tho Form of Said Bonds
and Providing For the Levy ~ "a
TaH Upon Al Of the Taxable Prop
rrtN within Snid city Sufficient 10
Pay the Interest ON and o. EN-
unElish the Principal ur Such Debt
Whereas. IN fun conformity with tho
constitution and laws uf the state 81
Utah, ana tho ordnance, rules und
orders ~ the city Of Price, the quail.
iird 'lrciura ~ the City NJ "a special
election lawfully called and duly held
uu tho 18th day nf March. 4. -. 1919.
authorized the city council o. improve
the water system now owned aud ,iu.
irullrd Us said city Tor The turpusH of
supply Ing said city uud the inhahltHuts
thrfuuf with water. and have iIrwlrs
authorized tho city council CO. contract
nu indebtedness uu hrhtl. ,. the outs
and upon the credit thereof. lN tssuiug
the negotiable coupon bonds ut tho
city iu the amount ui one hundred ana
o0o.0pl, for the purpose ~ applying
said city with water hy Improving tho
water system now owned aud CONTROL.
ud by tho ,ity. aud,
whereas. Tho city council uf said
city does nov deem n uNpsdlrut aud
necessary I" proceed with tho I'm,
prov at such water system. Tor
nfs al a.
purpose tn contract the necessary iu.
drhteducra On behalf uf tho yity aud
upon the credit thereof. hy issuing the
negotiable coupon bonds 81 tho city
Ia said amount uf ono hundred und
seventy thousand dollar Now. there.
fore.
HE IT ORDAINED UY THE CITY
PRICE, UTAH
Ser. .. That the wutor system now
owned ana controlled hy tho ,iW Tor
the purpu-e Of supplying the tity uf
Price ana the inhabitants thereof with
water be- extended and improved iu
accordance with the contracts. plans
ana specifications adopted or a. b.
adopted by tho city council
See. 2 That for the purpose uf
providing FUNDS Tor the Improvement
uf the water system now owned and
operated hy the city uf Price. the pit.
shall ISSUE Ga negotiable coupon bonds
Ia the aggregate amount ul ono hun.
dred and seventy thousand dulluu
UlfO, 00O 00l. consisting uf one hun.
dred and seventy l3Ul bond Boo tho
denomination or one Thousand dollar
$4,000 each, payable m lawful money
OF the United states, and bearing in.
teIeht from ana after the FIRST day uf
June, A. H., 1919, az the rate uf o prr
rentum per annum, payable Femi-m-
nutlly ON the first dag OF June uud tha
first day ~ December iu each yrtr.
and evidenced hy coupons attached o.
said bonds. said bonds shall bee num-
hered lea regular and consecutive
order, commencing with SO. tll. ana
shah De- absolutely due and PAYABLE lu
tho order ut their number ON the first
day 81 june. A, D., 1889. with th,
toserNcd right aud privilege, however.
q redeem said bonds uu uT after tho
bonds aud the coupons attached there
to shall be- payable at the office ut thr
city treasurer or "a tho banking hpus,.
ct kuuntIe lirOthrrs. Goa the city Of
New York. a. g. A. ut tho option of
the holder, said bonds shall bear date
the inst day of June, a. a.. 1878. shall
10 signed hN the mayor Iftr-ItH Hy
tho cts recorder under the seal u,
said city couniersimed hy tho ritr
treasurer, amt shall bee registered boz DO
took to Doe kept by said CHS recorder
for that purpose. ana the Dity recorder
shall endorse upon each uf sald bonds
the certificate required be-" SHr 400 co.
the Compiled Laws uf Utah. 1919. AN
coupons shall bear the facsimile -Ir-
nature ut tho ,ity treasurer .I said
Dity. and us tlUs executed shalt rr
the binding obligation ui thu gB tor
the interest evidenced thereby.
sen said bonds Hui tIH coupon.