Bisbee daily review., 1908-11-07

tenor thereof whenever The same Shall
have been sold and delivered.
Section 4. The city clerk is hereby
authorized and directed to advertise
for bids or proposals. in, at least, one
newspaper published in said City OF
Bisbee. for period Of ten days and in
such other newspapers as may be
designated by the Common Council OF
said city for the sale OF said bonds
and he shall In said advertisement
state time and place when and
where said bids shall be opened,
which said bids shall be opened in
the presence of the Mayor and
Common Council and the Mayor and
Common Council shall award the sale
OF the said bonds to the highest re-
sponsible bidder or refuse and reject
any and all bids as they may deem
best; provided, however, that no
bonds shall be sold for a less sum
than its par value.
Section 5. The Common Council of
said city shall in due time. manner
and season cause to be levied and col
lected annually upon all of the taxa
BILE property In the said City of Bis
bee, a tax sufficient to pay the annual
interest upon the said Bonds for the
Construction of Water Works and the
said Bonds for Improvement OF
Streets, provided to be issued in this
ordinance, which tax shall be added
to- assessed and collected at the same
time and in the same manner as pro-
yided by law for the collection of
other municipal taxes. The taxes so
collected shall, by the city clerk, ex-
officio city treasurer, be placed to and
designated respectively as WATER
WORKS BONDS INTEREST SINK
ING FUND and STREET IMPROVE
MENT BONDS INTEREST SINKING
FUND, and he shall pay the interest
en- said bonds semi-annually, herein
provided respectively. out of said
WATER WORKS BONDS INTEREST
SINKING FUND and said STREET
IMPROVEMENT BONDS INTEREST
SINKING FUND.
Section 6. The Common Council
shall also cause in due time and man
ner to be levied and collected annual
ly upon all of the taxable property in
the said City of Bisbee until said
bonds are all redeemed. a, tax suf-
ficient to raise the sum of S6250.00 TO
lDE Tue
CT sad Bonds for the construction OF
water works, and the sum of S6250.00
to constitute fund for the redemption
of said Bonds for Street Improvement
and which taxes shall be added to, as
sessed and collected at the same time
and in the same manner as provided
by law for the collection OF other
municipal taxes, the money so receiv
ed shall be respectively placed to and
designated WATER WORKS BONDS
SINKING FUND and STREET I'M
b PROVEMENT BONDS SINKING
FUND, and shall be retained for the
purpose of paying the principal on
said bonds which said bonds shall be
| redeemed in their numerical orde,
der and said funds shall be used for
no other purpose.
Section z. And as soon as the city
clerk ex-officio city treasurer has suf-
fcient funds in said WATER WORKS
| BONDS SINKING FUNp and in sail
STREET IMPROVEMENT BONDS
SINKING FUND to redeem one or
more of said bonds respectively after
the same are permitted to be redeem
ed under this ordinance, it shall be his
duty to redeem the said bond or bonds
respectively on the first interest day
when the semi-annual interest on said
bonds becomes due
Section 8. When all Of said bonds
and the interest thereon, shall nave
been paid, discharged and cancelled,
any money remaining in said WATER
WORKS BONDS SINKING FUND and
STREET IMPROVEMENT BONDS
SINKING FUND, shall be transferred
to and become a part of the general
fund of the city.
Section 8. All ordinances and parts
of ordinances in conflict herewith are
hereby repealed.
Section TO- This ordinance shall
take effect and be in force from and
after it's passage and adoption by the
mayor and common council and APP
prevail by the mayor and due publica-
/ tIcn according to law.
Passed and adopted by the mayor
and common council Of he City ii
Bisbee. this 4th day Of November. !
d., 1903.
Presented to the mayor for mis- Sig
nature and approval and by aim duly
signed and approced the Atm day of
November, A d. 1908.
GEORGE H. NEALE, Mayor
Attest: C. w. Hicks, City Clerk