Bisbee daily review., 1908-11-07

Sdno tSi<ofuoosVuJ SSttdFcs ana tnc
Issuance Of Bonds for the City OF
6isbee, cochise County Territory
Of Arizona, for the Improvement OF
Streets to the Amount of One Hun
] dred and Twenty-Five Thousand
(s125, 00o.oo) Dollars, and Providing
for the Payment Of Said Bonds, and
Providing for the Sinking Fund to
Redeem said Bonds and Pay the In
terest Thereon.
BE 1T ORDAINED by the Mayor
and Common Council of the City OF
Bisbee, Cochise County. Territory of
Arizona. as follows to-wit:
SECTION /. That, whereas, under
the authority and in pursuance OF and
in conformity with the provisions On
the Act OF Congress, approved March
a, 1898, entitled. AN Act to Amend
an Act to Prohibit the Passage of
Local on Special Laws in the Terri
tories. to Limit the Territorial Indebt-
edness, etc. and in accordance with
the provision of the revised statutes
of 1901 OF the Territory of Ari-
zona, and amendments thereof an
election was held in the said City OF
Risbee, on the oath day of October,
1908, between the hours of 500 a. m.
and 600 p. M, of said day for the
urpose OF voting on the Issuance of
bonds of the said City of Bisbee, for
the Construction OF Water Works to
the amount Of Sl25, 000.60 and the I'm
pavement of Streets to the amount oil
$125,000.00 and notice of which cleo
ton had been given more than thirty
days before such election, by publica-
ton in a newspaper of general cir
culation published in such City and
stating the time and place of holding
such election. and.
WHEREAS, at said election more
than twothirds of the qualified cleo
tors of said City of Bisbee and owners
OF real or personal property subject
to taxation within the said municipal
ity voted affirmatively for the issu-
ance of said Bonds for Construction
of said Water Works In the sum of
1925, 10000 and for the issuance of
said Bonds for Improvement of
Streets in the sum of $125 100000 said
Bonds to bear a rate of interest not
exceeding six (69e) per cent per an
mum payable semiannually and said
Bonds to run for the term of twenty
Eve years and be payable as follows,
to-wit:
During the first five years of the time
which they are to run, only the inter
est shall be due thereon and at the emo
of each year thereafter, besides the in-
terest there shall be due and payable on
said Bonds for Construction OF Water
Works, the sum of Six Thousand Two
Hundred and Fifty (s6,250.00) Dollars,
until the said bonds shall have been
paid; and, on said bonds for the I'm
provement of streets, the sum of Six
Thousand Two Hundred and Fifty
($6250.00) Dollars, until the said
bonds shall have been paid; and,
Whereas, the said Mayor and Com
mon Council of the said City of Bis
bee, dsem it necessary and proper to
issue and sell said Bonds for the Con-
struction of Water Works to the
amount of s125, 10000 and said bonds
for the Improvement vi streets to the
amount of S125, 10000 to be paid at
the time and in the manner as here
in set forth and to bear interest at
the rate of six $50 per cent per an
mum, said interest to be payable semi
annually on the first Monday in jan
uary and July OF each year, and that
the principal and interest of said
bonds shall be payable in gold coin of
the United States of America, ct the
office of the city clerk, ex-officio city
treasurer Of said City of Bisbse, Co
chise county, Territory Of Arizona, or
at such bank in the city Of New York
Tor at such other place as may be
designated by the Mayor and Com
mon Council of said City of Bisbee,
at the option of the purchaser of sa d
bonds. the place of payment to be
mentioned in said bonds, and said
bonds shall be made payable to bear
err
Section 3 That the city clerk, ex-
officio city treasurer of the said City
of Bisbee, is hereby directed to have
prepared Bonds for the CONSTRUCTION.
of Water Works In the sum of 1925.
100000 of the denomination of One
Thousand Two Hundred and Fifty
tS1250) Dollars, each numbered Sc
rally from one TO one hundred in
elusive, dated the End day of January,
1909. and which shall become due
twenty-five (25) years after the date
thereof and which snail bear interest
at the rate CT six (6%o) per cent pen
annum. which interest shall be paya-
BILE semfannually on the first Mon
Jay in January and July Of each
year; and also Bonds for the Improve
meHts of Streets in the sum of $685.
10000 of the denomination of One
Thousand Two Hundred and Fifty
s1250) Dollars, each numbered serial
~ from one to one hundred inclusive,
dated the End day of January, 1909,
and which shall become due twenty
five (25) years after the date thereon
and which shat bear interest at the
rate Of six per cent per annum, which
interest shall be payable semi-annually
on the first Monday In January and
July of each year: Provided, how
ever, that It shall be stipulated in said
bonds that the Mayor and Common
Council of said City of Bisbee reserve
the right to pay of and redeem any or
all Of said bonds in their numerical or
der at any time from and after the
ieXDfratfOn of five wears from their