HomeMy Public PortalAboutRES-CC-1954 no number 3Councilman then moved that
said ordinance be passed and adopted as read.
The adoption of the foregoing ordinance was seconded
by Councilman , and on being put to a
vote, was carried, the vote being as follows:
Those Voting Aye:
'those Voting Nay:
The presiding officer thereupon declared that ae at
least two thirds of all the members of the City Council voted
in favor thereof, the said motion was carried and the said
ordinance finally passed and adopted♦
The Mayor thereupon signed said Ordinance No.
in approval thereof, and the same was duly 4ttested by the City
Recorder and th► City seal thereof affixed to said ordinance.
Councilman _ ,_ introduced
and moved the adoption of the 'following resolution:
42.
WHEREAS, Moab City, in the County of Grand and State
of Utah, is an incorporated city, duly organized and existing
under the laws of the State of Utah, and now owns and operates
a water and sewer system (hereinafter sometimes designated the
"systems) for the benefit of the City and its inhabitants; and
WHEREAS, the water facilitiea and the sewer facilities
are jointly operated as a single system; and
WHEREAS, it has been determined that the cost of
constructing improvements, enlargements, extensions and better-
ments to the present system is $75,000.00; and
WHEREAS, it is proposed to defray the cost of con-
structing improvements, enlargements, extensions and better-
ments to the present system by the issuance of the revenue
bonds of Moab City in the amount of $75,000.00; and
WHEREAS, the City Council has determined, and does
hereby determine, that said revenue bonds in the amount of
$75,000,00 should be publicly sold at this time for the purpose
of defraying In part the cost of constructing improvements,
enlargements, extensions and betterments to the system,
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL
OF MOAB CITY:
Section 1. That bids for the sale and purchase of
the City's "Moab City Water and Sewer Improvement Revenue
Bonds, Series July 1, 1954," in the aggregate principal amount
of $75,000.00, shall be received and/considered by the Mayor
and City Council at Rig
withii. said City at the hour of /: 0 . oclock , M.,
on _ _/ , the iJ day of , 1954,
and the 1- or and City Recorder of said Cit , be and they
hereby are, authorized and directed to cause to be published
43.
in The Times. -Independent, a newspaper published and having
general circulation in said City, at least once a week for
three consecutive weeks, the first publication being at least
twenty-one days prior to said date specified for the receipt
of said bids, which advertisement shall be in substantially
the forms
44.
Worm of Notico1
No€= CT WV SALE
AME CITYo
WALIC NOTICE ZS 1 t 3y GIVEN that tho Eacordior of
Mash City, Omani County, Utah, will receive soalod bids for
tho following dosaribed hoods until l - _ , the
, .day of J 1954. at
at , is Moab City. Utah, at which
tine and plat* tho City Council of sold City will pUblicly open
and aonsidar any sealed bids received Par tha purchsss of
AaDeib City WatOr and SOWer Toprovomont Rovence Bandar Soria*
July 1, lam, in tho auto principal amount of t10,004.00.
The bonds of said issuo shy b* dated July 1, Wu,
moist of 90 bond' in that denomination of t1,000,00 ar U00.00
osah, nu borOd asniat,valy (gaol to 900 bath ineiwivo•
brarina inter*** until paw at a raGtat . or rails not 0#coOding
six per Wotan OM par moo* WNW.* tailiannuallY an the
first days of January and July of oath Mar, both principal
and interact being psyablo, without deductiew for *oohing, or
collimation aia IWI at the Zion,'• Savings Baak t Trait CaMpany,
soft Lanus City, UWd►r without bring euhioet: to registration as
to principal or interest, ell of said bonds being numbered,
Wing in the densminations and maturing *aridly in roguler
nUmorics1 oar sn the !ice day of July in each of the years
herooftor dasignatsd, ss follows*
4 t1.
.K•�Y•ic.�s.�i.4�lvt�F.�•-lwdl.el.�l+�wt.�s.•#.•fps.f«*.�e,•l+�mt�i+-i++la.i.•is��.-t.+l+s�[+4s�i*+E.rt.dr�l+t�a��.t*�•{s�s�}w�+E.#•iwe+�w�:rf.�s
8 8 8 8 8 8 8 8' 8 8 8 8 8 8 8 8 8 8 8 8 8 8 8 8 8 8$ 8 8
ii9,11/111111§;igicii94141141§411§4.1111VATIliqijiigiii
a r M r
1 ••�s$r4444-w$g44i§ ••s�44g$ 88a�s 44 $8$$$•11$$$T844� 8= 8888w
§m
$
§§ a § §�♦sits
a •• 4, .4r w r ♦ i s 4 r4 ♦. + •os •{ • • -v.:s • f i • • 4 t • •
441.
,4'tr-g23aRgial"WgVt2.14323rigg: ggS3
Bonds numbered 26 to 90, maturing on and after July
1, 1964, shall be subject to prior rede motion in inverse
numerical order, at the option of the City, on July 1, 1963,
or on any interest payment state thereafter prier to maturity,
at a price equal to the principal amount thereof with accrued
interest tee the redeemptien data, together with a premium in
accordance with the following schedules
4% of the principal amount redeemed. if
redeemed on Or after July 1, 1 634 Up
to and including January 1, 19701
3% of the principal amount redeemed tf
redeemed on or after July 1, 1970, up
to and including January 1, 1976; and
of the principal amount redeemed. if
redeemed on or after July-1, 1976.
Notice of redemption shell be given by the City Treasurer, in
the nay of the City by publication of such notice at leapt
thirty days prior tQ the redemption date in ea newepepe>r of
general circulation in the City, and a copy of such notice Shall
be sent by registered mail et least thirty loges prior to the
redemption date to the original purchsser of Maid bonds.
Payment Of these bonds and the interest thereon shall
be made solely from, and as security fear such payment there is
pledged, a special fund created by ordinance into which the
City will pay from 2b% of the net revenues to be derived from
the operation of its municipal water and sewer system, after
prevision only for all necessary end reasonable expenses of
operation and amintenanco of said system, sums sufficient to
pay when duo the principal of and the interest on the bonds,
and to create and maintains reasonable reserve for such
purpose. The bonds of this series are not entitled to any
priority ore over the other in the Opplielation of the revenues
of the systems and they constitute a first lien upon the net
revenues of skid oysters. provided, that the lien of said
improvement ment revenue hoods on the net revenues derived from
47.
the operation of the wator rocilitios of said syttem, and
the plodgo a ce or;inng tho payment thoroof, aro oubordinoto to
the lion of the outotanding Meek City orator works nevem*
nofundirss Bonds, woxioa June 1► 19b1, on eaid rat reavaaetuo$
dariVad from bald focili,ti es; and the lien of said
igprOualmOOt revarOm bonds an sold 2W of tit* not rovanuet
derived from they operation of all of sold wets's, and the
plogs security che payment theroof, , are on a paxity with
the lion of tho outstanding Noah aty Voter and Stator to vonno
Rost ;Sexists of Ally 1, 1 ,, an 011 of said not revo nuos
of sold oefebi.n 4 systom, and tho pi.eciga for U0 Moont th4zom'
of.
Udders asraro required to submit unconditional soled
bids for al of aeld its *starving the lowest rote or rates
tes
of interest premium, if any, a t or astvd pair, at ► which such
bidder wat peaxebllio the bend*. bids oust be enclosed in a
sear onvoispal sorkvd On the autsido "Proposal for water and
User ImproviMisnt 1Ovetnso ems, SOries July 1, 19be, 0 amd
atdelrsl;sOd to hill$ R. fir, Jr., City itsStOrd,r, MOO City. Utah.
Udders are permitted to hid difforont xwtars of into►raat . Pey-
arlo frsm ono or max. SOS cif 44144:4041, irznsts*otives bra' th*
M aturiti/ of tho bandof onat biro must specify tit, rat, or
rat" in multiple* of oeuoitonth, eno«etehth, or both.
said bonds sell be sold to the hiyho st and bast
bidder considering tho interest rote or retra s spocifled and
the 1reelmeaaffeed. if any. subject to the right of said City
to rldoct onv and ail bide, end to xo for d bondef as public
solo. The City furthor resorwes the privilego of waiving any
irrogulaarity or informality in any bid. Th. highest bid will
be dotemined by deducting the amount of the premium bid, If
any, fires► the total Amount of int,root which the City would bo
raquita4 to pry from the dame of the bonds to the respOctivo
maturity a#aKtO$ et the coupon rate Or raga specified ,in ghee
4U.
laid, send egad bonds will b awadird on the basis of the lowest
not interest coat to said City. without referents to possible re-
demption of the bends »WM to maturity. None of suit,► bands small
be sold to the pursheeerr at loss 'Chas! Far and accrued interest to
the dote of delivery, nor will any discount or commission be
allowed or plaid on the wile of Geld bonds. Tho bonde shall be
tendered for delivery by the City to the purchaser within forty-
five days from the date of the silos ar4 if they ors tendered
thereeliterr. delivery will be medo only eht, the option of the hest
bidder.
Nash bid shalt be eccompenied by Cosh. a cashier's
cheek or properly certified check upon a solvent flank or trust
e nwe nY. pehysble to the City Treasurer. sbab City, titeh. in the
amount of five pars memos of the bid. Which deposit shell be premot-
ly returned if the bid is not accepted. lZhs Mood faith deposit
will be credited to the pore eheesr. without waving interest. et
the time the delivery is aids. and it the successful bidder shell
fait or molest to owlet. the purr hsee of said bends within tech
deys. after the tondo eve tendered for di tom. prodded they are
so tendmod within tasty -liver drys !e+w the eels dab, the ewe*
of the deposit shell be forfeited to end retained by said City as
liquidated emee for earn-soeerliense with the W. If the bands
afar net era teeesdisiod within said forty-five day% the *Welter
the beret bidder will be peewi*tly returned upon sequoia. If there
axe two over eeore equal birds and such are the best bider received
end for not Lars than per and stewed interest. the City euthoeitias
shall determine which bid shall be arasnpted.
Delivery of the bonds will be mods at the office of
the City TxeseewNW. *rat some beak in Salt Lake COY, MIN oar.
at the euiee essful bidder's request end e>ewe*. et semi other bank
in the United States of MOW*.
Tho legality of the bonds will be approved by Nome.
Pershing, Born truth, Pick ei Dormon, Attorneys at Law. equitable
ildim; Denver, Won*, w 040 onlniant together with the
printed bonds and a certified transcript of the legal proceedinger.
49,
will be famished the purchaser without ohs*. Mathes informatiah
is available from Mt. Leuven W. Gibbs, Zicnts Saving,' Bank Wilding,
Salt Lake City, Utsh.
Dated at tab City, Utah, this day of
1954.
(SUL)
Attests
`0.
Section 2. That prior to advertising said bonds for
sale, said Mayor and City Recorder shall offer in writing on be-
half of said City ell of said bonds to the State Commission of
Finance, pursuant to the laws of the State of Utah.
Section 3. That the officers of the City be, and
they hereby are, authorized and directed to take all action necesat
ary or appropriate to effectuate the provisions of this resolution,
Section 4. That in the opinion of the City Council
of Moab City, an emergency exists and it is necessary for the
immediate preservation of the peace, hetlth and safety of said
City that this resolution shall take effect immediately upon its
passage, approval, and publication in accordance with law.
Passed by the City Council of Moab City, and approved
by the Mayer of said City, this day of _ ,1954.
(SUL)
Attest:
ciky Recorder
ayor
MoabMCity, Utah
51.
The motion to adopt the foregoing resolution was
seconded by Councilman and upon being
put to a vote was carried by the affirmative vote of all Council-
men present, the vote being as follows:
Thnse Voting Aye:
Those Voting Nays
Thera being no further business, upon motion duly
made, seconded and unanimously carried, the meeting adjourned.
ADOPTMD AN7 APPAOVBD this day of
1954.
(SMALL
ATTOST's
City Recereer
Mayor
52,
STATE OF UTAH
COUNTY Op GRAND ) SS.
MOAB CITY
I, ELLIS R. COOK, JR., the duly chosen, qualified,
and acting City Recorder of Moab City, in the County of Grand and
State of Utah, do hereby certify that the foregoing pages numbered
1 to 52, both inclusive, are true, perfect and complete copies of
the record of proceedings of the City Council of Moab City, had
and taken at a lawful meeting of said Council, held at the County
Court House, in said City, on the _ day of ,
NU, at the hour of o'clock, i.M., as recorded it
the regular official book of records of the proceedings of said
Board kept in my office, and that said proceedings were duly had
and taken as therein shown, that the meeting therein shown was
duly held, and that the persons therein named as present at said
meeting were present as shown by said minutea.
I do further certify that all tho members of said
Board were duly notified of said meeting and of the purpose there-
for as required by law and the rules and ordinances of said City.
IN MASS MHBRSCF, I have hereunto set my hand and
the 'eel of Moab City, this day of
1954.
City &corder
53.
A�CH
INAIv' E NO.AII OF PUBLICATION
54,
ATTACH AFFIDAVIT OF MAILINU
WRITTEN OFFER TO
STATE COMMISSION OF FINANCE
55,
ATTACH AFFIDAVIT OFS BBLICAT/CCN OF
NOT CS i2
56.
ATTACH ACCSPTANCS OR RUICTION OF
=Ili COMMISSION OP PINANCS
57.
NON, THEREFORE, Bg IT RESOLVED hY THE CITY COUNCIL
GI' mOAD CITY*
Section Y. Thet bills for the sail sad purchase of
the City*a +►wlb City Neter end Sewer i prevwNnt Revenue
Bends. Sort** Juiy L. 1 54.d In the avporoests principal *mount
at S75,0063.00, *hall be received and 000sidrrdd by the Meyer
erKI City Cet44l1 4t ....._......._.... ,.. .
within *aid City at tho hour of , ... „. O' clo k ..F „..w � ►
an _ ...�..., , . the...day day of .,�. � ..... � * i9t4 *
and tho mayor and City Recorder of *aid City, be end they
hereby are, autherired and directed to cause to be publialed
43.
RMJ-BBR,
5/b/54:3
STATE OF UTAH
COUNTY OF GRAND SS
MOAB CITY
The City Council of Moab City, in the County of Grand
and State of Utah, met in session at the hour
of o►clock, r,.M., on , the day of
, 1954, at the County Court House within said City,
being the regular meeting place of said City Council, due, legal
and timely notice of said meeting having been served upon all
members of the City Council as required by law and the rules
and ordinances of said City. Upon roll call the following
members, constituting a quorum, were found to be present:
Mayor: J. W. Corbin
Councilmen: M. E. Robertson
K. E. McDougald
Robert E. Mohler
Lorren L. Robertson
Absent:
constituting all the members thereof.
There were also present:
City Recorders Ellis R. Cook, Jr
City Treasurers Winford Bunce
Councilman introduced the
following ordl.nence, which was thereupon read in full, end is
as follows,
1.