Arizona republican., 1913-07-02

taxable property in said City for City l purposes, made previous to incurring of the indebtedness contemplated by
 this resolution, shall The Common | Council of the City of Phoenix, in said l County and State, issue bonds of tho 1 City of Phoenix in the amount of l One Hundred and Seventy-five Thou 1 sand Dollars ($175, ,000.00) for the pur- pose of funding it's floating indebted | ness up to July 1st, 1913, amounting
 to approximately One Hundred and Twenty five Thousand Dollars ($I25,- l 000,000). and to provide funds to the amount of Twenty-Five Thousand | Dollars ($25, 5,000.0O) 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 uSeu 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 (s25,OOO.O0) for the purpose of street improve ments, and particularly tie 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 (5D feet; said Van Buren Street when so widened to be for public use. Said bonds to be in denominations of Five Hundred Dollars ($50000) each, shall bear the date of their issuance and be numbered cOnsecutiVely from One upwards, the principal to be due in twenty years from date thereof.
 provided that the Common Council
 of the City of Phoenix reserves the
 right to pay off such bonds in their
 numerical order at the rate of Seven
 teen Thousand Five Hundred Dollars
 (s17. .50O.0O) 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-
 ly 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 office of the City
 Treasurer of the City of Phoenix.
 Maricopa County, State of Arizona,
 or at such Bank in the City of Phoe-
 nix, in said State and County, in
 the City of New York, in the State of New York, or such place as may be designated by the Common COun- cil of the City of Phoenix, a 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 lithogra phed 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
 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 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
 hoI oil
 proposals received by them and shall
 award the purchase of said bonds to
 the highest and best responsible bid
 der, provided that none of said bonds
 shall be sold for less amount than par
 with accrued interest, and all bids or
 proposals received for the purchase of said bonds or other evidences of in
 debtedness shall be accompanied by a certified check not less than five per cent (586) of the total amount of said bid and the Common Council of the City of Phoenix shall reserve the right to reject any and all bids and all such certified checks accompany
 ing bids which are not accepted and which are rejected, shall be returned
 to the parties rendering the same
 Certified check so deposited by suc-
 cessful bidder shall be retained by said Common Council of the City of Phoenix and shall be forfeited in the event that such bidder shall not carry out the terms of the contract, provid-
 ed herein to be entered into. The City Recorder of the City of Phoenix shall enter upon the record of the proceedings of the Common Council of the City of Phoenix the amount of bonds sold, their numbers and dates.
 Second: That said election shall be