HomeMy Public PortalAboutRES-CC-1962 no numberRESOLUTION
WHEREAS, the City of Moab has on deposit with the Zions First National
Bank, a national banking corporation of Salt Lake City. Utah, and also has on
deposit with the First Security Bank of Utah, N.A.. Main at First South Branch,
a national banking corporation in Salt Lake City, Utah, certain securities and
cash deposits further described as follows:
Water and Sewer Revenue Bond Sinking Funds - Issue Date July 1, 1956
with 'Lions First National Bank. Salt Lake City, Utah
Water and Sewer Revenue BondSinking Funds -Issue Date: July 1, 1954.
with Zions First National Bank . Salt Lake City, Utah
Water and Sewer Revenue Bond Sinking Funde-Issue Date: June I. 1951
with First Security Hank of Utah, N.A., Salt Lake City, Utah
Water and Sewer Revenue Bond Sinking Funds -Issue bate: July 1, 1951
with First Security Bank of Utah, N.A., Salt Lake City. Utah.
WHEREAS, the Citizens of Moab and the City Council of Moab City, Utah,
have heretofore voted to call all outstanding revenue bonds issued and provisions
have been made to finance new construction of 1.4+ater and Sewer facilities in said
City which makes it necessary to convert the assets of said accounts in said Banks
to casht and.
WHEREAS. the City of Moab now desires the Zions First National Flank and
the First Seeu`rity Bank of Utah, N.A. to sell the erects they now hold belonging
to the City of Moab and to remit the proceeds of male, together with all cash on
deposit in said Banks. to the City of Moab.
NOW THEREFORE BE IT RESOLVED by the City Council of Moab, City,
Utah. that the Oro Security Bank of Utah. N.A. and the Zions First National
Bank be, and they are. requited and instructed to sell the assets and securities
held by them belonging to tetb City Of 'Moab and to deliver the proceeds of said
sale. together with all care on -deposit in said Hanks belonging to the City of Moab
to Moab City as soon as practicable.
BE IT FURTHER RESOLVED that the Mayor, or City Recorder and the
City Treasurer be. and they are. hereby authokised to receipt for payment of
said funds and do arty and all things necessary or convenient to effect the sale
of said securities anti the delivery of said securities and cash on deposit in said
Banks belonging to said City of Moab to Moab City in accordance with the terms
of the Resolution above stated and set forth.
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CERTIFICATION
Darrell Reardon, the duly appointed, qualified and acting City Recorder
of Moab City, hereby certifies that the foregoing Resolution is a true and correct
copy of a Resolution duly paseed and adopted at the regular meeting of the Moab
City Council held on the 20th day of February, A. D., 1962, at the regular meeting
place, at which a quorum was present, and that said Resolution hae neither been
rescinded nor modified, and that the same is, as of the date hereof, currently
in force.
Dated this 211th day of February, A D., 1962.
Darrell Reardon
Moab City Recorder
(SEAL)
REso LUTiON
WHEREAS, the City of Moab has on deposit with the done First National
Bank, a uational banking corporation of Salt Lake City. Utah, and also has on
deposit with the First Security Rank of Utah, N.A., Iviain at First South Branch,
a national banking corporation in Salt ;Ake City. Utah, certain securities and
cash deposits further described as f011pv16;
Water and Sewer Revenue Bond Sinking Funds - laaue Date July 1, 1956
with Mons First National Bank, Salt take City, Utah
Water and Sewer Revenue hondSinking Funds«Issue Date: July 1, 1959,
with Lioaa First National Bank . salt lake City. Utah
Water and Sewer Revenue Bond Sinking Farads -Issue Dates June 1. 1951
with First Security Bank of Utah, N.A., Salt Lake City. Utah
Water and Sewer Revenue Bond Sinking Funds -Issue Date: July 1, 1951
with First Security Bank of Utah. N.A., Salt Lake City, Utah.
WHEREAS, the Citizens of hioab and the City Council of Moab City, Utah.
have heretofore voted to call all outstaodtng revenue bonds issued and provisions
have been made to finance new construction of Water and Sewer facilitiea in said
City which nukes it necessary to convert the aaseta of said accounts in said Banks
to cash$ and.
VI1EREAS. the City of Moab now desires the Zions First National Bank s.nd
the First Security Bank of Utah. N.A. to sell the aerate they now hold belonging
to the City of Moab and to remit the proceeds of sale. together with all cash on
deposit in said Banks. to the City of Moab.
NOW THEREFORE BE IT RFSOLVFD by the City Council of Moab, City,
Utah. that the First Security Bank of Utah, N.A. and the Zions First National
Bank be. and they are. requested and instructed to sell the assets and securiti s
held by them belonging to the City of Moab ana to deliver the proceeds of said
sale. together with all cash on deposit in said Banks belonging to the City of Moab
to Moab City as soon as practicable.
BE IT FURTHER RESOLVED that the Mayor, or City Recorder and the
City Treasurer be. and they are, hereby autholeised to receipt for payment of
Said funds and do any and all things necessary or convenient to effect the sale
of said securities and the delivery of said securities and cash on deposit in said
Banks beiaaging to said City of Moab to Moab City iz accordance with the terms
of the Resolution above stated and set forth.
CERTIFICATION
Darrell Reardon, the duly appointed, qualified and acting City Recorder
of Moab City, hereby certifies that the foregoing Resolution as a true and correct
copy of a Resolution duly passed and adopted at the regular meeting of the Meeb
City Council held on the 20th day of February. A t . , 1962, at the regular meeting
place. at which A quorum was present. and that said Resolution has neither been
rescinded nor modified, and that the name #a, as of the date hereof, currently
in force.
Dated this 28th day of February, A D. , iglu;.
luta.
Darrell Reardon
Moab City Recorder
(SEA).)