Arizona republican., 1911-04-26
ALL BIDS
 REJECTED Latest Effort to Sell Sewer
 Bonds Fails CONDITIONS OBJECTIONABLE Advertisement Called For Unconditional Bids and Every Response Had a String to It. Embarrass- ing Delay.
CONDITIONS OBJECTIONABLE

| Pursuant to the advertisement of the | city council for the sale Of S325.OO0 worth Of the $400.0O0 worth of sewer bonds voted by the city. the bonds to run forty years and bear f T. per cent ! the redemption of $2O,000 annual" af- ter twenty years being optional. three bids were made for the bonds last night and all were rejected by the council The advertisement called for unconditional bids and all three bids were conditional. What the next step will be was not indicated last night
 The New First National Bank of CoIumbus ohio. offered for the bonds. par and accrued interest and q premium of $10.302. subject to the bonds being exempt from taxation all
 over the United States. in the opin-
 ion of their attorney; the furnishing
 of a transcript showing legality prop
 CT formalities. etc.
 Breed X Harrison of Cincinnati.
 ohio. offered for the bonds $33l,093.l5 with accrued interest to date of de
 livery. This bid would amount to a premium of sG.U93.15. The condition
 placed by this bidder was that the transcript should show the bonds to be satisfactorl to its attorney.
 The Union Savings Bank X Trust company of Cincinnati offered S$}l.- 9lG and accrued interest. with long list of conditions. principal among which were the following: that the sale shall be subject to any additional evidence that may he required by Shopc. Zane. Busby X Weber of Chi cago: also subject to congress pass ing at the present session an act similar to the one it failed tD pass at the last session. permitting the city to buy the old sewer system for not to exceed S6o.000: also subject tO the city passing a final ordinance. nam ing the bonds etc. subject also to the fact that the aforementioned ap- proval shall be made by July I. 1911; and that the actual issuance and de- livery of the bonds must be effected prior to Arizona becoming state
 The first condition imposed by the last named bidder was q dampener as to that bid for the reason that the bond experts referred to have already examined d transcript of the bonds prepared previous to the last former bidding when all bids were rejected. and on which occasion the transcript was disapproved. The other conditions named are even more embarrassing
 What the city council wants is to sell the bonds at once and get the work of building a sewer under way. It is not believed that any house would find the bonds illegal or ir regular but the council in advertising as it did. wanted To avoid prospective buyers taking all summer in which to approve them, largely for the very reasons mentioned by the third bid der in one Of the conditions. namely the possible complication of the sit nation by the securing of statehood.
 In the event of admission before the bonds are disposed of they could not then be sold under the old cleo tion instruction. 4 new election would have to be held under state laws which would mean more delay. More oyer, under state laws 1t is not likely the bonds would sell for so high d price as when backed by congress. 1 Again. the element that opposed the bond issue. under the conditions of a state government. might be able to prevent at such an election. the car rying of the issue before the people.
 Had any one of the present bids been accepted the negotiations might | have dragged until after statehood and be finally fruitless And by re- jection there is already some delay occasioned so whatever the viewpoint the council is facing a complicated and unsatisfactory situation. while the city iS daily more and more in need ! of the long wished for sewer system !