Bisbee daily review., 1908-11-08

Arizona for the Construction OF wa
ter Works to the Amount Of One
Hundred and Twenty-Five Thou
sand t$12s. .ooo.oo) Dollars, and the
issuance Of Bonds for the City OF
5isbee, cochise County, Territory
Of Arizona, for the improvements OF
Streets to the Amount Of One Hun
dred and Twenty-Five Thousand
{S125, ,oo0.00) 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 IT ORDAINED by the Mayor
and. Common Council OF the City OF
Bisbee. Cochise County, Territory OF
Arizona, as follows to-wit:
SECTION 1. That, whereas. under
tae authority and In pursuance Of and
In conformity with the provisiops On
the Act of Congress, approved March
4, 1898, entitled, An Act to Amend
an Act to Prohibit the Passage of
Local OF Special Laws in the Terri
tories, to Limit the Territorial Indebt-
edness, etc." and In accordance with
the provision of the revised stautes
of 1901 OF the Territory Of Ari-
zona, and amendments thereof an
election was held in the said City OF
Bisbee, on the Gath day of October.
1908, between the hours of $500 a m
and 500 p. m, of said day for the
purpose OF voting on the issuance OF
bonds of the said City of Bisbee, for
the Construction of Water Works to
tb< ox,o.,u@ - sf0E mn On o~A &9.a t.,
poyement OF Streets to the amount OF
$125, 100000 and notice of which cleo
tion had been given more than thirty
days before such election, by publica-
ton in a newspaper of general cir.
eulation 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 subjeci
TO taxation within the said municipal
ity voted affirmatively fer the issu
ance of said Bonds for Construction
of said Water Works in the sum o.
S125,600.00 and for the issuance OF
said Bonds for Improvement oI
Streets in the sum of $125,000.00 SAID
Bonds to bear a rate of interest mo-
exceeding six (6q6) per cent per an
mum payable semiannualIy and said
Bonds to run for the term of twenty
five years and be payable as follows
to-wit:
During the first five years of the timt
which they are to run, only the inter
est shall be due thereon and at the enC
of each year thereafter, besides the In
terest there shall be due and payable or
said Bonds for Construction of Wate1
Works, the sum of Six Thousand TIVE
Hundred and Fifty (s6,250.00) Dollars
until the said bonds shall have beel
paid; and, on said bonds for the I'm
provement OF streets. the sum of 81,
| Thousand Two Hundred and Fift.
| ($6250.00) Dollars, until the saiC
| bonds shall have been paid; and,
Whereas, the said Mayor and Com
mon Council of the said City of Bis
bee, deem it necessary and proper t.
issue and sell said Bonds for the Con
Istruction of Water Works TO the
amount of $125,0OO.O0 and said bonds
for the Improvement If Streets to taE
amount OF S125,000.00 to be paid a
the time and in the manner as here
in set forth and to bear interest a
the rate of six (6%o) 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 thai
the principal and interest of said
bonds shall be payable In gold coin o
the United States of America, at tht
office of the city clerk, eX-offfcio city
treasurer of said City of Bisbee, Co
chise county, Territory of Arizona, ol
at such bank in the city of New Yorl
or 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 SAID
bonds, the place of payment to bt
mentioned in said bonds, and sait
| bonds shall be made payable to bear
er.
Section 2. That the city clerk, ex
| officio city treasurer of the said Cit,
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
| (S1250) Dollars, each numbered Sc
rally from one to one hundred in
] elusive, dated the End day of January
! 1909, and which shall become du'
twenty-five (25) years after the datt
thereof and which shall bear interes
at the rate of six (695) per cent pc
annum, which interest shall be paya
Bile semi-annually on the first Mon
day in January and July of eacl
year; and also Bonds for the Improve
ments of Streets in the sum of $125
10000 of the denomination of On,
thousand Two Hundred and Fift
$1250) Dollars. each numbered seria,
ly from one to one hundred inclusive
dated the End day Of January, 100.
and which shall become due twenty
five (2S) years after the date thereo
and which shall bear interest at tn
rate OF six per cent per annum, whic
interest shah be payable semiannuall
on the first Monday In January an
July Of each year: Provided, how
ever, that It snail be stipulated in sal
bonds that the Mayor and Comno
Council Of said City of Bisbee reserV
the right 10 pay off and redeem any O
all of said bonds In their numerical o.
der at any time from and after tn
Expiration of five years from theI
date, both the principal and the in
terest on said bonds shall be mad
payable in gold coin of the Unite
States of America, at the office Of tn
city clerk, ex-officio city treasurer o
said City of Bisbee, Cochise county
Territory Of Arizona, or at such ban
in the City of New York, State q
New York, or at such other place a
may be designated by the Mayor an,