Arizona republican., 1913-07-08
The aggregate amount of indehted-

The aggregate amount of indebted ness of the City of Phoenix in the ; County of Maricopa, State Of Ari- s zona, now being Tn excess of four per centum of the value of the tax 2 able property in said City, as is as , certained 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
 one Hundred and Seventy-five Thou
 sand Dollars ($175, 5,00OCO) for the pur-
 pose of funding it's floating indebted
 ness up to July 1st, 1919, amounting
 to approximately One Hundred and
 Twenty-Five Thousand Dollars ($125,-
 OOOOOU), and to provide funds to the
 amount of Twenty-Five Thousand
 Dollars (S25, ,00O.OO) for the purpose of
 purchasing two or more tracts of land
 to be hereafter selected by The Com
 mon Council of the City Of Phoenix,
 said land to be used by said City
 of Phoenix and the inhabitants there
 of as public parks, and further to
 provide funds to the amount of TWen- ty-five Thousand Dollars ($25,000.00)
 for the purpose of street improve ments and particularly the widening of Van Buren Street by cOndemna- tiOn, 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 1 (57) feet; said Van Buren Street when 1 so widened to be for public use Said bonds to be in denominations of 1 Five Hundred Dollars ($500.OO) each, i shall bear the date of their issuance and be numbered conSecutively from 1 One upwards, the principal to be due 1 in twenty years from date thereof, 1 provided that the Common Council i of the City of Phoenix reserves the ] right to pay off such bonds in their l numerical order at the rate of Seven teen Thousand Five Hundred Dollars l 17,500.00) thereof per annum from and after the expiration of ten G0) years from their date, all of said
 bonds to bear interest at the rate of - per cent per annum; inter est thereon shall be paid semi-annual- | 1 ly on the first day of January and 1 July of each year after their issuance. i l Principal and interest shall be paid in gold coin of the United States of
 America in the office of the City ,
 Treasurer of the City of Phoenix, |
 Maricopa County State of Arizona, !
 or at such Bank in the City of Phoe- 1
 nix, 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 Coun- i
 cil of the City of Phoenix, 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 to be signed !
 by the Mayor of said City of Phoenix
 and attested by the City Recorder
 thereof and have the seal of the said
 City of Phoenix attached thereto, and
 each bond shall have interest coupons
 attached thereto so that the same may be removed therefrOm without mutilat-
 ing the bonds for the semi annual in terest to accrue thereon, which cou-
 pons shall have a fac -simile of the
 signatures of the Mayor and Recorder of said City of Phoenix Autographed or printed thereon, provided, that it
 shall not be necessary to impress upon such coupons the seal of said City of Phoenix. Said bonds to be sold by the Common Council of the City of Phoenix at a regular or special meet ing called for that purpose after caus- ing to be entered upon the record of Stlu the common COuncll or the CltN 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 newspapers as may be desig . mated by said 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 Council of the City of Phoenix shall at said time, and at a meeting to be held for such purpose, open all sealed proposals received by them and shall l award the purchase of said bonds to the highest and best responsible bid 4 shall be sold for less amount than par I with accrued interest, and all bids or received for the purchase of 4 said bonds or other evidences of in lebtedness shall be accompanied by ! certified check not less than five : per cent (53o) of the total amount of ! said bid and the Common Council of ! he City of Phoenix shall reserve the ! light to reject any and all bids and Ill such certified checks accompany ng bids which are not accepted and which are rejected, shall be returned 2 o the parties rendering the same = Certified check so deposited by suc- ,essful bidder shall be retained by I aid Common Council of the City of c Phoenix and shall be forfeited in the ( went that such bidder shall not carry
 ut the terms of the contract, provid-