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""""""BBBBBBBBbbbbMHMBMhwm bbbVipt I ppi H!I mrr, SATUBDAY, .DECEMBER 23 inoo f? SATURDAY, DECEMBER 23, 1922. AMERICAN, FORK CITIZEN , W. !J ORDINANCE NO AN ORDINANCB PftOVIDINO FOR ,' THE ISSUANCE AND 8AU8 OF I I i ' ' TWENTY ' THOUSAND DOUUARS "' ji i (10,000) WATERWORKS BONDS II' 1 OF ttt, CITV OF fLEABANT V ,$ OROVE," UTAH: i WHEREAS, by tho result ot a jgfj special election duly called and held W in tho City of Pleasant Drove, Utah jjfii Courity. Utah, on Tuesday, tho 24th 4sy of October, A. D., 1922, aald City JI,' waaauthorlzed and" empowered to ls- W sae and sell 20,000.00 Waterworks fiS ' Bonds, and, g WHEREAS, tho result of said clcc- i m tlon was duly declared by tho City 1 1( Council ot said City sitting as a ' Board ot Canvassors, by resolution 4uly passod on tho 30th day of Oc- jijj. tobor, A. D, 1022, from which It op SI fears lhat the total numbor ot votes S' east at said, eloctlon In favor of tho Ml Jesuanco and sale of said Water- BJ works Donds was 08 and tho total Wt number of rotes cast against tho Is- Iflj' nanco and sal0 ot aald Waterworks j Bonds wna G7, showing a majority ot ft 1 voto In furor of tho Issuance and ' Mlejt said Waterworks Donds, and, jfj WHEREAS, Palmor Dond & Mort,-, (age' Cpmpany has . offcrod to pur- R chase said bonds, paying therefor a m prlco satisfactory to this Council, 1 1 with accrued Interest, from date ot ffl, toads to dato or delivery thereof, t iV'Jl ! Which bid was th0' highest, beat and WR ' most advantageous to tho City nnd Mfl j which bid has by resolution been duly I bu ' accepted by said City Council, and, Jo WHEREAS, thcro Is Immediate and j M (' pressing need of raising funds to tho i IsY amount nnd purpose specified, JMt! NOW .THEREFORE DE IT OR- f I H PAINED, by tho City Council of the 0j CU ot Pleasant drove, Utah, County, ilMi Utah: m 8ECTI0N 1. That for tho purposo ffnjfj of raising fiinds to defray tho ox- lUll fo of Incrcaslngr, Improving, en- Mm Urging, perfecting and, adding to tho IJ'IjJ present water supply and waterworks ig8j system of said City, for tho purpose if 1 r moro Bde(iuate')r noppiying an(l I 8 ft, eUttrlbutlng water to tho inhabltanU i III i I Msereot which said water systom and 1 ill 1 works shall be owned and controlled j fjjfjl fey aald municipality, In manner pro- f 1 ' Tleed for In a resolution adopted and ft' IHI pasted by tho City Council on the I ij lta day of September, 1922, proyld I II tCT B orAni special elee llxL Ue '0r lhe DurPse ot submitting to llppb. the qualified electors dt said City ittils,' , the question of' incurring a bonded l-S " indebtedness to' the said amount ot I- ,W0.OQ.tho Cjty of freasonl Orove, ' Utah, does issuo $20,000.00, water works bonds ot tho denomination ot itjHKK) eaeh, numbered consecutively from 1 to 20 both. Inclusive, to bo do nominated "City "of Pleasant drove, Witerworks Donds," to bo dated No smW 1, 1922, and to become due seV payable twenty year ' after, dato f tissue, without option ot prlorsy ald bonds and oach or them shall feV in substantially the following linn to-wit; StJNITED flTATflS OF AKRRICA CITT of pleasant grove, v WATE1WOKKS BOSD. Kl1 11.000. "AKNOW ALL MKN BY THESE jU PRESENT T gTnat the City ot Pleasant drove, Ofejh County, Utah, hereby ackmowl f'jfTi Itself to be indebtod and tor fmUe received hereby promises to pay li'the hearer hereof tho sum or One Thousand Dollars ($1,000) In lawful MMey of tho tjnlted States of Am erica oathe first day of, Noyeraber A. D. 19?. without, option of prlorr . pmcnt;at the Quafanty Trust, Cosi Pny of i Now York,' In the City ot Ktw York, U. 8. A. with Interest Isisfeon -from- date until, paid, at. the rate of ajx per ceatl(6) per.anum. payable J,sei-nnualjK. (a like mwey. ..the first days ot May and Novem ber In each year, said Interest to m ' T " tnflky being- represed.1y Interest coupons hereto attached, .This bond. Is one. of a -series ot twenty f30)i'ibonds''of like tenor, dato and amount, numbered from 1 to 20, feeih Inclusive known as "City ot Plea sant drove Waterworks Donds" amoun ting in the aggregate to $20,000.00, and Is Issued for the purpose of de fraying the expense ot increasing, Improving, enlarging, extending, per fecting and adding to the presont wa terworks, system of said City and so curing an additional water supply, for' tho purpose or supplying and dis tributing water to the Inhabitants thereof, the samo to be owned and controlled by said municipality and is Issued under and pursuant to tho J Constitution and Laws of tho State of Utah aaYf an ordinance passed by the j City Co&icll of said City and as au thprizodby tho electors of said City at n sp&plal election duly called ami tt held fonthat purposo In said City. K The Cy Council of aaldj.Olty shall annually levy a tax sufflclcnt to pay the Intejmtfhfe bq?d ltolls f , due ana also to constitute a sinking I mr fund for tho payment of tho princi pal when due. It Is hereby certified, recited and declared that all conditions, acta and things essential to the validity ot this bond exist, have happened and havt been dono and that every require ment of law affecting the Issue there of has been duly compiled with and this bond Is within every debt and other limit prescribed by the Consti tution and Lawb of said Stato of Utah. Tho full faith and credit and all tnxablo proporty within tho limits of nald City, of Pleasant Orovo, as con stituted at tho time of the issuanco horoof, aro and shall contlnuo to bo pledged to tho punctual payment ot tho principal nnd Interest of this bond. IN WITNESS WHEREOF tho City of Ploasant Orovo has caused this bond to bo signed by Its Mayor and City Treasurer and Its corporate seal to be hereto affixed, attested by Its City Recorder and the annoxed coup ons to bear tho fac-slmtlo slgnaturo of the City Treasurer, as ot the first 'day of November A.- D. 1922. JUNIUS A. WEST, Attest: Mayor. LB. ADAMBON, , City Recorder. ' MARIE SMITH, City Treasurer. (8EAL) To each of said bonds shall be at tached a coupon for each Installment of Interest contcmplatod by said bond, which coupons shall bo num bered consecutively, beginning with No. 1 with tho sovoral dates ot pay ment and number of bond nnd shall boar tho fac-slmllo slgnaturo of tho City Treasurer; eald coupons nnd each of them (Except as to dates of payment nnd number) shall bo in substantially tho following form to wlt: (Fonn of Conpon) No. 3o.oo On tho first day ot May-November, A. D. 19 , th0 City ot Pleasant drove, Utah, .will pay to the bearer hereof the sum of Thirty Dollars ($30.00) In lawful money of tho Un ited States, of America, at tha guar anty Trust Company of Now York In the City ot New York, U. S. A., be ing six, months Interest then due on Its Waterworks Bond, dated Norem- ber 1st, 4922, No, , (Fac-Slmlle Signature) - . rr ? vt City Treasurer. Thero shall also be endorsed on each of said bonds th0 following: "WA hereby 'certify, tbatthls H. bpnd-ls within the lawful debt limit of tho City ot Pleasant drove, Utah, and Is Issued according to law. f U D. ADAMSON, City Recorder" and Ex-offlclo Qlty Auditor." Said bonds and each of them shall bo signed ,(by',the Mayor arid'ctfy Treasurer and' attested by tho City Recorder and sealed with th0 seal of said City and the said coupons slinjl bear the fac-slmlle signature c,f tho City Treasurer, Th0 Mayor end City Treosuror ot said City are eqch here by empowered and directed to f!gn, the City Recorder 'to sign and utti'Rt and affix tho seal of the' City" to CHch ot said bonds and th0 acts of said Mayor, City Treasurer and City "Re corder In so doing, are and shall be the act and deed of said City of Plea sant drove, Utah. All covenants, state ments, representations and agree ments, contained In said bonds and coupons and all recitals and represen tations of this ordinance are hereby considered and understood and It Is horcby ordered that said covenants and lromlses therein, aro tho covenants 'and promises ot said City and that the representations and statements there in, aro tho representations and state ments of said City. And It Is further, stated., and repres ented that said Cltjj. jit, j Pleasant Oove. is a municipal corporation and a City ot the third clossjindcr the Constitution nnd Iaws vOf-.tfae Bute of lUh. iSECTlON 3. All onlteanci;s .and resolutions,- or parts ot ordinances and HrosplutIons In conflict with tho provisions horoof, be and the same are hereby repealed, and aftor said bonds are Issued, thts ordinance Hhall be and remain irrcpealable. until said bonds and tho Intbrest thereon shall have been fully paid, satisfied and discharged as herein provided. SECTION 4. Tho Interest, falling duo on said bonds on tho first day of May 1923, shall bo paid out of tho genoral fund of said City and for the purpos0 ot reimbursing said genoral fund for tho payment of Bald interest nnd to crcato a sinking fund and to meot tho Interest accruing on said bonds on tho first day of November 1923, also tho Interest accruing on said bands on tho first day of May, 102J promptly and as tho samo be comes duo, thore shall b0 lovled by tho City Council or said City,, pn nil taxablo property In said City; In ad dition to all othcrjaxes, a direct an nual tax In thoyo'ar 1923 Butllclcnt to produce th0 sum ot $2800.00, be ing Interest $1800.00 and sinking fund $1,000, and to meet the interest accruing on said bonds thereafter promptly and to creat0 a sinking fund for tho Ultimate redemption of said bonds, there shall be levied by the City Council of said City on all tax able proporty in said City, In addi tion to all othor taxes, n direct an nual tax In each ot tho years 1924 to 1940 both Inclusive sufllclent to pro duce tho sum of $2200.00, being In torest $1200.00 and sinking fund of $1000, and In tho yoar 1941 sufficient to prqduco tho sum of $1600.00, being Interest $600.00 nnd sinking fund $1,000.00. Said taxes when collected shall bo applied solely for tho purposo of the payment of said Interest and princi pal ot said bonds, respectively and for no other purpose whatever, until th0 Indebtedness so created under this ordinance and resolution, princi pal and Interest shall havo been fully paid', satisfied and discharged. But nothing herein contained shall bo so construed as to prevent said City from applying any othor funds that may bo In the City Treasury and nvallnblo for the purposo, to the pay ment of sold Interest and principal as th0 same respectively mature, and tho levy or levies herein provided .for may thereupon to that extent be di minished, and tho sums heroin pro vided for to meat tho Interest on said bonds and to discharge tho principal thereof, when due, aro hereby ap propriated for that purpose and said amount tor each year shall bo in cluded in t!io annual appropriation bills passed by th0 City Council in each year respectively. SECTION E. The sale of said $20, 000.00 Waterworks Bonds, consisting ot bonds numbered from one (1) to twenty (20) both Incluslvo to Palmer Bond & Mortgage Company, n Corpor ation of the Stato of Utah, and tho action of tho City Council In accept ing Its hid nnd all acts and proceed ings pertaining thereto, nrc hereby considered and are hereby 'ratified and confirmed and the City Treasurer Is hereby authorised. Instructed' 'and directed, to deliver said bonds when properly oxecuted to said Palmer Bond and Mortgage Company, .tipoh receipt of the purchase price thetofor. SECTION G. In the opinion of tho City Council ot said City, It Unneces sary to' the peace, health and safety bf'aald City that this ordinance, be come operative Immediately, so ' that the work of Improving and extending the present water system may proceed without delay. ' ,' -' SECTION 7. Now therefore, be It furthor ordained that an omergency Is hereby declared and that this ord inance shall take' of feet and be In force upon the day "of Its passage. ppproval and publication. Passed by tho city Council of the. City of, Pleasant Orovo, Utah and' approved -this 20th day ot December JUNIUS A. WEST, , Attest: Muyor L. B. ADAMSON, City Recorder,. (8M) . ' ' ;,, It was then moved by Councilman' W. Wl' Urn and seconded by Coun cilman .Isaac E. Carlson, that sold ordinance bo .read three successive times and placed upon its final pas sage. Said question upon being put to a voto was unanimously carried by the affirmative vote of all Coun cllmcn present, the rote being as fol lows: ' " Councilman John 8. Holdaway,' Aye , ii - Councilman Isaao E. Carlson, , "Aye". ; Counollman Albert H. Olpln "AyeV. Councilman W W, Llm "Aye", rf Councilman J. Ed, Warburtoa, "Ayo". "1 Thereupon said ordlqanco was read for three successive times. Council? man J. Ed. aWarburton.thenmovyi the adoption and passage ot said ord inance as read,- which motion was seconded by Councilman W W Lint and upon being pat to. a vote waj carried "by the anUmatlvo rote of air pound! men present, the, oto being as follows: ," Councilman John S. Holdaway, "Aye". , f Councilman Jlsaac R. , Carlton,? "Aye". a-t Councilman Albert H. Olpln "Aye Councilman W. W. Llm "Aye". ' .Councilman J. Ed. Warburtoa, "Aye". Adopted nnd approved this 20th day of December, A. D. 1922. ' JUN.IUS A. WEST,11 Attest: . Mayor. L. B. ADAMSON, City Recover. (Seal) ,. . . Observation Worth Considering. A MiiKt of old observed: "lie who iniikcs ot Iters happy unit it piisxllilu liiiiiliiiKK fur . Iilinsvlf.'' " .T,"hf 'tf', st'rtiillnii rcu'itted Is nlo pi'rlliit-iit, "lh wIhi imikt'N utiiir im'iiiijri'iv' iniikt'H imikh'I.i,. iirilifiii1iicjiM Tin him H'lf Apply tliito liiiKiitf x iimMif illlHlrVll iiillillttnDS linliii (ifil i 4 joke cam fr Sri . 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