Iron County record. [volume] (Cedar City, Utah) 1893-1982, 1921-06-10
AN ORDINANCE.

1
ial election duly called and held il
Cedar City, Iron County, Utah, OF
Saturday, the lst day of May, 1920
said City was authorized and EN-
powered among other things to is.
sue and sell Fourteen Thousand
Dollars ($l4,00000) Public Park
Bonds, and,
| Whereas, the result of said cleo
ton was duly declared by the City
Council of said city sitting as a
Board of Canvassers by resolution
duly passed on the 3rd day of May,
1920, from which it appears that
the total number of votes cast a,
said election in favor of the issu-
ance and sale of sand Public Park
Bonds was % and the total number
of votes cast against the issuance
and sale of Public Park Bonds was
AZ, showing a majority of SO votes
in favor of the issuance and sale of
said Public Park Bonds, and,
Whereas, on the 9th day of May,
1921, the Palmer Bond and Mort
gage Company offered to purchase
said bonds, paying therefor a price
satisfactory to this Council, with ac-
crued interest from date of bonds
to date of delivery thereof, which
bid was the highest, best and most
advantageous to the City and which
bid has by resolution been duly ac-
cepted by said City Council, and
Whereas, there is immediate and
pressing need of raising funds in the
amount and for the purpose speci-
fed.
Now Therefore, Be it Ordained,
by the City Council of Cedar City,
Iron County, Utah:
Section l. That for the purpose
of defraying the expense of pur-
chasing grounds for Public Park
within said City and to lay out. es-
tablisb and improve such grounds,
in the manner provided for in an
ordinance passed by the City Coun-
ii on Thursday the lst day of April.
1920, providing for and ordering a
special election for the purpose of
submitting to the qualified electors
of said City the question, among
Others, of mourning bonded in
debtedness to the said amount of
$l4000.00 Cedar City does issue
$l4,OO0.00 Public Park bonds of
the denomination of $1,000. num-
bered consecutively from / to IA,
both inclusive, to be denominated
Public Park Bonds" to be dated
the first day of May, 1921, to bear
interest at the rate of six per centum
60 per cent? per annum PAYABLE
semi-annually on the first days of
May and November in each year
and to become due and payable
without option of prior payment as
follows:
$1,000 on May LIST in each of the
years 1925 to 1923, both inclusive,
and $1,000 on May lst 1920.
Said bonds and each of them shall
be in substantially the following
form to-wit:
United States of America
State of Utah
County Of Iron
Cedar Chy-Pnblic Park Bond
No. .-...... 100000
Kno5o An Men BY These Presents.
That Cedar City, Iron County.
State of Utah. acknowledges itself
TO be indebteded and for value re-
ceived hereby promises to pay to the
bearer hereof the sum OF One
thousand Dollars ($1 ,0O0) in law
ful money of the United States of
America on the LIST day of MAY 10.
without option of prior payment
with interest thereon, from date UNI
til paid, at the rate of six per cent
20 per ceuD per annum, PAYABLE
scmi-annually in like money on The
first days of MAY and November il
each year, said interest, to maturity
being represented by interest cou-
.pons hereto attached, both princi-
pal and interest payable at the Han
over National Bank in the CITY of
New York.
This bond is issued for the purpose
of acquiring funds for the purpose
of defraying the expenses of pur-
chasing grounds for a Public Park
within said City, and to lay out, es-
tabliSh and improve such grounds,
and is issued under and pursuant
to the provisions of the Constitu-
ton and Laws of the State of Utah
and an ordinance passed by the City
Council of said Cedar City and as
authorized by the electors of said
City at special election held for
that purpose.
The City Council of said CITY has
provided for levvinp annually q tax