Arizona republican., 1906-05-23
ORDINANCE NO. ss2.
An Ordinance Prescribing the Form of Bond for an Issue of $30o,000 Water Bonds of the City of Phoenix.

1 An Ordinance Prescribing the Form of 1 Bond for an Issue of $30o,000 Water 1 Bonds of the City of Phoenix.
 The Common Council of Phoenix do ordain as follows:
 | Section 1. That the $3OO,OOO Water Bonds of the City of Phoenix author ized by Ordinance No. S49, approved 1st February. 1904, and sold under Resolution No. 263 passed 2nd Novem Der, 1905, be issued in substantially the following form to-wit:
 United States of America
 Territory of Arizona City of Phoenix Water Bond
 No. 5000. The City of Phoenix, in the Terri toryof Arizona for value received promises to pay to bearer the sum of ONE THOUSAND DOLLARS in gold coin of the United States of America of the present standard of weight and fneness on the First day of June, 1881, with the privilege of prior payment as hereinafter provided, with interest thereon at the rate of 3 per cent per annum, payable semi-annually on the 1st days of January and July of each year upon presentation and surrender of the annexed coupons as they sev- erally mature. both principal and in terest being payable at the American Exchange National Bank. in the City of New York.
 This bond is one of a series of 300 bonds of like tenor and denomination, numbered from 1 to 300 inclusive is sued under and by virtue of an Act of Congress entitled "An Act to amend an Act to prohibit the passage of local or special laws in the Territories to limit Territorial indebtedness, and so forth" approved 4th March 1898 and of ordinances of the Common Council of the said City duly passed and ap- proved and published. The issue hereof has been authorized at an cleo tion duly warned and held at which two-thirds of the qualified voters of the City being qualified electors and owners of real or personal property subject to taxation therein voted af- firmatively for the issue hereof. The Common Council of the City of Phoenix reserve the right to pay off in their numerical order at the rate of s30,000 per annum from and after the expiration of 15 years from the date hereof the bonds of the series of which this bond is one by notice given according to the provisions endorsed hereon.
 It is hereby certified that every re- quirement of law relating to the issue hereof mas been duly complied with and that this bond and the debt ere ated hereby are within every debt and other limit prescribed by law. In Witness Whereof the said City of Phoenix mas caused this bond to be signed by it's mayor and attested by its city recorder, and the seal of the said city to be hereto attached and the said interest coupons to be signed by the fac simile signatures of the said mayor and city recorder this First day of June, 1906.
 LEWIS W. COGGINS, Mayor. Attest: FRANK THOMAS, City Recorder.
 (Form of Coupon)
 $25
 On the 1st day of January CJuly) 19-- the City of Phoenix, Arizona, will pay the bearer $25.OO in gold coin of the United States of America of the present standard of weight and fine ness at the American Exchange Ma tional Bank, in the City of New York, for six months interest on its Water Bond No. - unless said bond shall nave been previously redeemed as therein provided.
 LEWIS W. COGGINS, Mayor. Attest: FRANK THOMAS, City Recorder.
 (Endorsement)
 Provisions for Prior Payment.
 In order to pay off this bond before maturity as herein provided the City of Phoenix shall give notice of it's in- tention to do so on a specified day. by publishing such notice for a period of ten days before such specified day in one newspaper published daily in each of the cities of Phoenix, Cincin- nati and New York, and thereupon af- ter the day so specified, interest here on shall cease unless payment hereof shall be refused after presentation on or after such specified day pursuant to such notice.
 Section ?. The first and last cou- pons shall be for the period of one month and five months respectively and the terms thereof shah be varied accordingly. The phrase unless said bond shall have been previously re- l deemed as therein provided" shall ap- pear only on such coupons as mature subsequent to the date on which the bonds to which they are attached be- come redeemable.
 Section 3. All ordinances and reso- lutions so far as they are in conflict with the provisions of this ordinance are hereby repealed.
 This ordinance shall take effect and be in force from and after it's passage approval and publication according to law.
 Passed by the Common Council of the City of Phoenix this 14th day of May, 1906
 Approved this 14th day of May. 1906
 LEWIS w. COGGINS, Mayor. Attest: FRANK THOMAS. City Recorder