HomeMy WebLinkAbout1952-002 Water Works Revenue Bonds Sold BE IT RESOLVED, By the Board of Trustees of the Village of Chubbuck, Idaho,
that the foregoing bi~iled by Lincoln Ure g Co., of S~t Lake City, Utah, pro-
posing the purchase o~e $70,000.00 of Negotiable Wa~ Works Revenue Bonds
of the Village of Chubbuck, at par and accrued interest of four per cent per annum,
said bonds to be dated July 1, 1952, and to be issued in denominations of $500.00
"Maturities as follows:
$3000.00, principal, July 1st in each of the years 1954 to 1962, both inc.
$4000.00, principal, July 1st in each of the years 1963 to 1969, both inc.
$5000.00, principal, July 1st in each of the years 1970 to 1972, both inc.
Bonds maturing July 1, 1963 and thereafter subject to redemption after
July 1, 1962, on any interest paying date."
be, and the same is hereby accepted and the bonds sold to said bidder.
Be it Further Resolved, That the First Security Bank of Idaho, N.A., Pocatello
Branch, Pocatello, Idaho, be, and the same is hereby designated as the Bank and
place at which the principal and interest of said bonds shall be paid, and all
collection charges shall be paid by the purchaser, or holder, of said bonds.
Be it Further Resolved, That said bonds shall be issued, sold and payable
under the authority and pursuant to Chapter 47, 1951 Session Laws of the State of
Idaho, pertaining to the issuance of revenue bonds, and under the authorization of
the Municipal Bond Law of the State of Idaho, and Ordinances of the Village of
Chubbuck heretofore passed.
Be it Further Resolved, That the bid of Lincoln Ure 5 Co., be, and it is hereby
accepted as the best bid for said bonds, and that tile sale of said bonds to said
company, pursuant to said bid, be, and the same is hereby approved, ratified and
confirmed.
Be it Further Resolved, That when the said bonds [lave been prepared and printed
they shall be signed in the corporate name, viz, Village of Chubbuck, Bannock County,
Idaho, by John R. Valenty, Chairman of the Board of Trustees of the Village of
Chubbuck, and each bond shall be countersigned by Kenneth I{. Kennedy, Treasurer of
the Village of Chubbuck. and shall be attested by the signature of Charlotte T.
Kennedy, Clerk of the Village of Chubbuck, under the official seal of the Village
of Chubbuck.
Be it Further Resolved, That the Treasurer Of the Village shall sign the coupons
on said bonds by having his facsimile signature on said coupons.
Be it Further Resolved, That the form of bonds and coupons, a copy of which
is hereto annexed to these Minutes and marked Exhibit "A", be, and the same is
hereby approved as to the form and contents of both the bond and coupon to be issued
for the bonds of said $70,000.OOWater Works Revenue Bond Issue of the Village of
Chubbuck.
Be it Further Resolved, That before the delivery of said bonds to the purchaser
thereof, the said bonds shall be duly registered by tile Clerk of the Village of
Chubbuck in numerical order in a permanent public record book, kept by said Village
Clerk in the office of the Village Clerk of the Village of Chubbuck for that purpose,
in accordance with the provisions of Section 57-219, Idaho Code, such registration of
such bonds to show the number, date, amount of each bond, the rate of interest thereon,
date of maturity thereof, place of payment and the number and denominations of attached
coupons, together with any other proper data describing such bonds, for tile purpose
of future identification thereof, and that after said registration is completed, tile
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Clerk shall deliver said bonds to the Village Treasurer and take the Village
Treasurer's receipt therefor, and that the Village Treasl~rer shall also register
the said bonds in numerical order in a permanent record book, kept by the Village
Treasurer in the office of the Village Treasurer of the Village of Chubbuck for
that purpose, and that the Village Treasurer shall thereupon, be, and he is hereby
authorized to deliver said bonds to said purchaser, to-wit, Lincoln Ute ~ Co., Salt
Lake City, Utah, and shall note in such registration book the name of the purchaser,
Lincoln Ute 5- Co., Salt Lake City, Utah, and tile date of delivery thereof, such
delivery of said bonds is to be made upon receipt of payment therefor of par and
accrued interest on said bonds, and upon receipt of the moneys for said bonds, the
Treasurer of the Village of Chubbuck shall deposit the same in the First Security
Bank of Idaho, N. A., Pocatello Branch, Pocatello, Idaho, in a fund designated
"I~ater ~"](,rks System llevenue Special Fund of 1951" cre~ted by Ordinance No. 11
of thc '~ age of Chubbuck.