The border vidette., 1911-12-09
ORDINANCE No. 8i.

An Ordinance Providing for the Is. suance of Sewer System Bonds of tbe town of Nogales, Arizona, in the amount of Fifty Thousand Dollars.
 WHEREAS, at an election which had been duly and legally called and which election was held in the Town Of No gales, Arizona, on the 3lst day Of August 1911. mo @ than two-th rds Of the qualified voters of said Town voted in favor of the issuance of bonds of sa d town ip the amount Of Fifty Thous and Dollars, for the purpose of cons tru ting a system of sewerage to supply said Town and its inhabitants with sewer. and
 WHEREAS, said bonds have been duly sold and awarded to the First National Bank of Nogales, Arizona at price not jess than the par value thereof; Now THEREFORE. BE IT ORDAINED by the Mayor and Common CoupcIl of the Town of Nogales, Arizona: Section i. That for the purpose O. constructing a system of sewage to snp- ply the Town of Nogales, Arizona and it's inhabitants with sewer, there are hereby ordered and directed to be issued the negotiable coupon bonds of said Town in tho aggregate amount of Fifty Thousand Dollars (S50000). consisting of 50 bonds of the denomina ation of 5000 each. numbered l to 50 inclusive. Said bonds shall be dated September l, 1911, and shall mature thirty years after date. Said bonds shall bear in- tercst at the rate of five per centum @ per cent) per annum, payable semi annually on the 1st day of March and of September in each year until the maturity of the principal, and shall have coupe ns attached representing said interest installments; both princi pal and interest of said bonds shall be made payable in lawful money of the United States of America at the Hau- over National Bank in the City and State Of New York.
 Section ?. Said bonds and coupons shall be in substan tially the following forms respectively, to-wit:
 UNITED STATES OF AMERICA
 TERRITORY OF ARIZONA
 COUNTY OF SANTA CRUZ
 TOWN OF NOGALES
 SEWER SYSTEM BOND.
 No. 5000 %
 KNOW ALI MEN BY THESE PRESENTS that the Town of Nogales, in the Conn ty of Santa Cruz, Territory of Arizona, acknowled ges itself indebted and for value received hereby promises to pay to bearer on the first day ofSeptember, A. D., 1911, the principal sum of One Thousand Dollars, together with 1n- terest thereon from the date hereof until paid, at the rate Of five per centum t0 per cent) per annum, payable on the first day of March and of Septembe in each year, to the date of the mature of the principal, evidenced by and payable upon representation and surrender of the annexed interest coupons as they severally become due. Both principal and interest of this bond are payable in lawful money of the United States of America at the Hanover National Bank in the City and State of New York And for the prompt payment of the principal and interest of this bond as they respectively become duo, the full faith, credit and reso urces of said Town are hereby irrevocably pledged.
 THIS BOND is issued for the purpose of providing funds for the construction of sewerage system to supply said Town and Its inhabitants with sewer pursuant to the favorable vote Of more than two-thirds of the qualified electors residing in said Town and owners of real or personal property subject to taxation therein, and pur- suant to ordinances, resolutions and proceedings of the Mayor and Commons Counci! Of said Town duly passed, ap proved aud adopted, and pursuant to and in full conformity with the re- quirements of the laws of the United States and of the Territory of Arizona, narticuiarIY an Act of Con gress ap. !