Arizona republican., 1899-10-27

( Adams had any suggestion to make re-
garding the meeting of the interest or
the bonds and the provision for a sink
ing fund as the law requires. Mr. Ad-
ans replied that that subject was not
ripe for consideration. The first thing
was to issue the bonds. Mr.. Darby said
/ that it was possible by taxa
! ton to raise about 81, O0O which
/ would little more than pay
! the annual interest, but there
could be no provision for an adequate
sinking fund. A discussion arose as to
the definition of a sinking fund and the
size of it. Mr.. Adams definition was
! accepted and he said that the amount
of it was not prescribed by law. 1t
might be $500 a year and need not be-
as Mr.. Darby supposed, a proportion
ate part of the whole indebtedness The
amount of the sinking fund was a
matter in which the bond buyers would
take a greater interest than anybody
else. 1t was not required Mr. Adams
said, that the fund should be raised
wholly by taxation. 1t was presumed
that the water works would bring in a
revenue which would provide a sink
ing fund. Mr.. Darby asked if it would
be unsatisfactory to the gentlemen who
attended the mass meeting if the water
works and sewer propositions We're
segregated by the council. Mr.. Adams
replied that it would. would it be
unsatisfactory asked Mr.. Darby, IF
the council should decide that it could
not legally present both propositions
as one:'
That decision would be unsatisfac-
tory" said Mr.. Adams
tended the mass meeting, which was
the most representative body of tax
payers he had ever seen gathered in
Phoenix. There was no doubt in his
mind that the citizens wanted an OPP
portunity to express themselves on the
subject of a bond issue. He accord
ingly moved that the resolution pre-
scented by the subcommittee be adopt
ed at once and that the bond election
be fixed for December u.
Councilman Morford said that at
previous meeting it had been agreed to
the matter to the first meet
ing in November, and the council
therefore could not adopt Mr.. Dyer's
motion without stultifying itself. Mr..
Fickas said he was not satisfied with
the resolution as it had been offered
and was not in favor of building the
water works piecemeal. He did not
that the gentlemen of the
committee had asked for immediate i
action, but that by the November
meeting they would be able to find out 1
precisely what they wanted.
Mr. Sanders retorted that Messrs. I
Hfckas and others had instituted /
4 campaign of education some |
ago. He thought that
oy this time the taxpayers of |
he city would have been taught
something if they We're capable OF
earning. He asked Mr.. Fickas when
his water works course in the scheme
If education was going to be finished
md diplomas given to the taxpayers.
Mr.. Fickas Indignantly denied that he
lad set himself up as a professor of
water works. He moved that Mr..
1yer's motion be laid on the table I'M
il the November meeting. 1t was
one, Messrs. Dyer and Sanders voting
lay. Altogether the spirit of the
proceedings rather than anything that
vas actually said or done, left an i'm
'ression that the people are going to
ncounter a great deal of opposition in ]
hree members of the council.
The resolution was preceded by ac-
ion upon a request by H. P. DeMund, !
I. E. Hewins and J. w. Walker for a
ermit or franchise to build a railroad I
rack from the end of the 8. F. P. & P.
pur on Fifth avenue, along the alley Y
0 Third avenue. The object of the pc Y
itioners who own the ground on the !
orth side of the alley is to create a
rarehouse district. They We're uncer- t
moniously turned down when the J
natter was first presented a couple OF {
he nc of m
trance made by property owners on i
he south side of the main track. The I
etition was subsequently referred to
ne streets and alleys committee, con- :
sting of Messrs. Dyer, Sanders and
ickas The first two reported against
ne petition, but Mr.. Fickas offered
minority report which was adopted,
-hereupon Mr.. Dyer asked what was
ne use of having committees But
lie nucleus of a warehouse district has
ow been formed. .