HomeMy Public PortalAboutRES-CC-1955-no number'IHIBIT "A"
$15,000.00 May 16, 1955
On or before January 1, 19561 the City of Moab, Grand County, Utah,
for value received promises to pay to the First National Bank of Moab, or order,
the sum of Fifteen thousand ($15,000.00) Dollars, at the First National Bank
of Moab, in Moab, Utah, with interest at the rate of 4% per annum from date
hereof until paid.
It is hereby certified, recited and declared, that the entire
indebtedness of said City hereby incurred is not in excess of the taxea and
revenues of said City to be levied and collected for the currant year 1955, and
that paid indebtedness was and is contracted for the purpose for which said
taxes and revenues are to be levied and collected.
The City of Moab shall levy and collect in the year 1955, sufficient
tax and revenue to pay the principal and interest on this note as the same ehall
fall due, and this note is issued in anticipation of such taxes and revenues for
the year 1955.
It is hereby further certified, recited and declared that all conditions,
cote and things essential to the validity of this note exist, have happened and
have been done, and that every requirement of law affecting the issue thereof
has been duly complied with, and that this note id within every debt and other
limit prescribed by the Constitution and laws of said State, and that the full
faith and credit of the said City of Moab is hereby irrevocably pledged to the
prompt payment of the principal and interest of this note according to its terms.
Said City further agrees to pay a reasonable attorneys fee in case
suit shall be brought on this note, said fee to be taxed as a part of -the
costs in the suit.
This note is issued by the City of Moab in conformity to a resolution
of said City passed and adopted on the lath dey of Mey, 1955, by the City
Council of said City, and under authority conferred upon said Council under
provisions of Section 10e8-6, Utah Code Annotated, 1953.
In witness whereof, the City of Moab hoe caused this note to be
signed by its Mayor, its corporate seal to be hereunto affixed, and countersigned
and attested by the City Recorder, on this 16th day of May, 1955.
CITY OF MOAB
SEAL
Attest
4t--
Ciwy Recorder
STATE OF UTAH )
COUNTY OF GRAND ))
I, Ellis Foote, the duly appointed, qualified and acting recorder
of the City of Moab, Utah, do hereby certify that the foregoing promissory
note is within the lawful debt limit of said City and is issued according to
law.
es
Dated this 16th day of May, 1955.
41;‘i-c42;; order