Arizona republican., 1913-09-23
RESOLUTION NO. 622

funding the floating indebtedness of
 the City of Phoenix up to July 1.
 1913; for purchasing two tracts of
 land for park purposes; for street
 improvements; and for the extension
 and improvement of the fire depart
 ment of the City of Phoenix.
 THE COMMON COUNCIL OF
 PHOENIX DO RESOLVE AS
 FOLLOWS:
 First: That the following propO- sition be, and the same is hereby sub
 mitted to the qualified electors and
 property tax payers subject to taxa
 ton within the corporate limits with
 in the City of Phoenix, County of MaricOpa, State of Arizona, to be
 voted upon by them at an election
 called for the purpose to be held
 on the 11th day of October, A D,
 1913, in said city, county and state,
 viz:
 The aggregate amount of indebted ness of the City of Phoenix, in the County of Maricopa, State of Ari- zona, now being in excess of four percentum of the value of the taxa
 ble proptrty in said city, as is ascer- tained by the last assessment of taxable property in said City for City purposes, made previous to incurring of the indebtedness contemplated by this resolution, shall The Common Council of the City of Phoenix. in said County and State, issue bonds of the City of Phoenix. in the amount of Two Hundred and Fifty Thousand Dollars ($25O,O00OO), for the purpose of funding it's floating indebtedness up to July l, 1913, amounting to ap- proXimately One Hundred and Twen- ty-five Thousand Dollars ($125, 100000; to provide funds to the amount of Twenty five Thousand Dollars for the purpose of purchasing two or more tracts of land to be hereafter select cd by the Common Council of the City of Phoenix. said land to be used hy said City of Phoenix and the inhabitants thereof as public parks and further to provide funds to the amount of Twenty-Five Thousand Dollars ($25. .OOO0O) for the purpose of street improvements. and particu- larly the widening of Van Buren street by condemnation, or otherwise, from the west line of Central Avenue to the east line of Second avenue in said City to an approximate width of fifty-seven (5D feet; said Van Buren Street when so widened to be for public use; and to provide funds 10 the amount of Seventy five Thous- and Dollars (S75, ,O0O.OO) for the pur- pose of enIarging the fire depart ment of the City of Phoenix and in Creasing its equipment, by extending the fire alarm system, by the pur- chase of additional fire fighting ap- paratus and the establishment of | sub-stations for the said fire depart 1
 
 nominations of Five Hundred Dollars | (s500.00) each, shall bear the date of 1 their issuance and be numbered con 1 secutively from One upwards, the l principal to be due in twenty (2O) years from date thereof provided 1 that The Common Council of the | City of Phoenix reserves the right to pay off such bonds in their numeri- cal order at the rate of Twenty-Five 1 Thousand Dollars ($25.OOO.OO) thereof 1 per annum from and after the ex- l piration of ten (1O) years from their l date, all of said bonds to bear interest at the rate of five per cent per an mum; interest thereon shall be paid ] semi annually on the first day of 1 January and July of each year after their issuance Principal and interest shall be paid in gold coin of the United States of America in the of flee of the City Treasurer of the City Of Phoenix. MaricOpa County, State of Arizona, or at such Bank in the City of Phoenix. in said state and county, or in the City of New York, 1 in the State of New York, or such place as may be designated by the Common Council of the City of Phoe- nix, at the option of the holder of 1 said bonds; place of payment to be mentioned in said bonds and shall be made payable to bearer, and said bonds are to be signed by the Mayor Df said City of Phoenix and at tested by the City Recorder thereof | and to have the seal of the said City Df Phoenix attached thereto and each pond shall have interest coupons at -ached thereto so that the same may De removed therefrom without mutt ating the bonds for the semi annual interest to accrue thereon, which coupons shall have a fac-simile of the signatures of the Mayor and Re ,Order of said City of Phoenix Iitho- sraphed or printed thereon, provided hat it shall not be necessary to i'm press upon such coupons the seal Df said City of Phoenix. Said bonds shall be sold by the Common Council | # the City of Phoenix at a regular pr special meeting called for that purpose after causing to be entered lpon the record of said The Common Council of the City of Phoenix an order directing the sale of said bonds md the date and hour of said sale md shall cause q copy of said order O be published for at least four consecutive weeks before said sale in ;uch daily or weekly newspaper or as may be designated by aid The Common Council of the City # Phoenix, together with a notice hat sealed proposals will be received ,y it for the purchase of said bonds n the date and hour named in said ,rder. Said The Common Council of he City of Phoenix shall at said time,