Arizona republican. [volume] (Phoenix, Ariz.) 1890-1930, 1913-09-29
RESOLUTION NO. 522


funding the floating Indebtedness of
the City of Phoenix up to July l.
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.
PHOENIX DO RESOLVE AS
FOLLOWS:
First: That the following propo-
stiOn 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 18th 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-
iona, now being in EXCESS Of four
percentum of the value of the taxa
BILE proptrty in said city, as is ascer-
tanned by the last assessment of
taxable property in said City for City
purposes, made previous to mourning
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 ($250, 100000, for the purpose
Of funding its floating Indebtedness
up to July I, 1913, amounting to APP
proximately One Hundred and TWen
ty-fiye 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
ed by the Common Council Of the
City of Phoenix, said land to be used
by said City of Phoenix and the
inhabitants thereof as public parks,
and further to provide funds to the
amount of Twenty-Five Thousand
Dollars ($25OOO0O) 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 (57) feet; said Van
Buren, Street when so widened to be
for public use; and to provide funds
to the amount of Seventy-five ThOus
and Dollars ($75, 100000 for the pur-
pose of charging 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 APP
paratus and the establishment Of
sub-stations for the said fire depart
ment. Said bonds shall be in de
nominations of Five Hundred Dollars
(S500.O0) each, shall bear the date of
their issuance and be numbered con-
secutively from One upwards, the
principal to be due in twenty (20)
years from date thereof, provided
that The Common Council of the
City of Phoenix reserves the right to
ray off such bonds in their numeri-
cal order at the rate of Twenty five
Thousand Dollars ($25.O00OO) thereof
per annum from and after the eX
pfration of ten GO) years from their
Gate, 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
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,
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
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
of said City of Phoenix and at
tested by the City Recorder thereof
and to have the seal of the said City
Of Phoenix attached thereto, and each
bond shall have interest coupons at
tached thereto so that the same may
he removed therefrOm without mutt
Iating 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
corder of said City of Phoenix litho-
graphed or printed thereon, provided,
that it shall not be necessary to i'm
press upon such coupons the seal
of said City of Phoenix. Said bonds
shall be sold by the Common Council
Of the City of Phoenix at a regular
or special meeting called for that
purpose after causing to be entered
upon the record of said The Common
Council of the City of Phoenix an
order directing the sale of said bonds
and the date and hour of said sale
and shall cause a copy of said order
to be published for at least four
consecutive weeks before said sale in
such daily or weekly newspaper or
newspapers as may be designated by
said The Common Council of the City
of Phoenix, together with a notice
that sealed proposals will be received
by it for the purchase of said bonds
on the date and hour named in said
order Said The Common Councils of
the City of PhnnniX shall at said time