Arizona republican., 1910-08-27
INFORMATION FOR THE
 BIDDERS ON CITY BONDS
Neat Booklet Issued From Recorders Office Showing Sewer Bonds
 Status.

Since the city recorder ana city at } torney caused to be inserted in tn financial papers of the country adver- tsements of the offering for sale O. S325,OO0 worth of the $4OO,O90 bono issue authorized by the council for tho construction of an adequate sewel system for this city. there have beer so many inquiries from all parts ot the country relative to the bonds ana the financial standing of Phoenix that it has been found practicable to issue an abstract of the proceedings of the council relative to the issuance of these bonds, together with a statement of the financial condition of the city LII to June 30, 1910.
 The issuance of such an abstract which has just come from the printer will obviate the necessity of writing | long letters to each of the many in quirers, as the booklet seems to em- brace practically every phase of the situation which might arise. A large number of these pamphlets have all ready been mailed to some of the larger houses all over the country, go- ing principally to Chicago. Cincinnati, Cleveland, Buffalo, New York and Bos- ton.
 As a sort of preface the following facts are set forth relative to the na- ture of the bonds themselves:
 They are issued for the purpose of constructing an adequate sewer sys- tenn in the city of Phoenix, the city not owning its sewer system at the present time, there being a private cor poration which has merely taken care of the needs of a portion of the busi- ness district.
 Interest, AZ per cent, payable semi annually.
 Principal and interest payable at the option of the holder of the bonds
 Denomination, one thousand dollars, date July l, 1910, due forty years aft CT their date.
 optional to pay twenty thousand dollars per annum from and after twenty years from their date.
 Bonds exempt from taxes under the laws of Arizona.
 Bonds will be sold on sealed bids to be received by the city recorder not later than october 1, 1910.
 "To be opened at council meeting at 7:30 o'clock D. m., October 3, 1910.
 Sinking fund, none established.
 These bonds are issued under the authority of an act of cOngresss, being chapter 35, fifty-fifth congress, second session, March 1, 1898.
 Phoenix has never repudiated any of its obligations, and has paid the principal and interest of all previous bond issues promptly when due.
 The population of Phoenix is esti- mated at fifteen thousand"
 Every resolution passed by the council relative to this bond issue. to- gether with the call for the election and a statement of the result of the election, all appear in the pamphlet
 A brief summary of the financial condition of Phoenix as shown by the books of the city assessor and tax col lector and the city treasurer at the dates given occupies a page of the booklet and is of more than passing interest This statement follows: Assessed valuation of
 property subject to tax
 ation for the year end-
 ing June 30, 1910 (esti
 mated) ... w ....s S.00O, ,O00.O0 True value (eStlmateQ l4,UOO, ,OOO.UU Value of real and person al property title of which of which is in the city of Phoenix ...... .... 700. 100000 | Cash on hand June 30, 1910 36.45O.11 !
 Indebtedness. Fire department refunding
 bonds, maturing May 15.
 1919, bearing 6 per cent =. S,000.00 : City hall bonds maturing
 June 21, 1917, bearing
 per cent -. .... ..... 100000 City hall and fire. engine
 bonds. maturing July 19.
 1910. bearing per cent ... S,000.00 Roosevelt road bonds, matur
 ing July l, 1924. bearing
 per cent -. ......... 67,5OOOO Waterworlzs bonds, maturing
 July l. 1881. fearing per
 cent ....... ........ 3OO,OO0.00 bonds. bearing
 per cent ...... ..... -. 155,O00.O0 II Sewer bonds, authorized is
 sue four hundred thousand dollars, present offering... 325.000.00 Total bonded indebptedness.