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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.