Arizona republican., 1913-06-30

zona. now being in excess of four per centum of tine value ot the tax abI" property in said City as IS as certnined by the last assessment of taxable property in said City for City purposes, made previous to mourning of tne indebtedness contemplated by this resolution, shall The Common Council of the City of Phoenix. in said County and State, issue bonds If the City of Phoenix in the amount of
 one Hundred and ScEenty-fiye Thou
 sand Dollars ($1G5,Guu.tub for the pur-
 pose or funding it's floating indebted
 ness up to July 1>t 1919. amounting
 70 approximately one Hundred and
 Twcuty-five Thousand Dollars C$l25,-
 o0o.ooo). and to provide funds to the
 amount of TNenty-five Thousand
 Dollars CS25.o0nom for the purpose of
 purchasing two or more tracts of land
 to be hereafter selected by The Com mon Council CT the City of PhocniN said land to br uscl ;,y said city or Phoenix and the inhabitants there of ae public Iara-. and further to provide funds tp the amount of TWcn- tv-five Thousand Dollars tS25.ooo."0) for the .purpos, of street improve mcnts and partcuiary the widening or Nan 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 ot nttN-seEen en ! t57) feet: said Van Baren Street when SD vid.uod to b. for public Use. said bonds to ho in denominations of ! Five Hundred Dollars C>5G"oD each, shall bear the date of their issuance ] C 1 one upwards. the principal 10 be due ! in twenty years from date there of, 1 provided that the Common Council for the City or Puocn5N reserves the lrieLt to nav off such bonds in their { numerical order at the rate of Seven
 ten Thousand iNe Hundred Dollars 1 ezi7.IGU. .Up) th,re5l per annum From ! land after the cNp.ration of ten tl") wears from their date. all "f said bonds tn bear interest "t the rate ol --- Der cent per annum: inter est thereon shall b. paid srni-annHAI- I- ! I,- on the. first Gay of January and i Julv or each wear after their issuance. 1 Principal and interest shall he paid 1 in gold coin of tu~ United States of 1 America in the office of the city ! Treasurer of the City of PhoenlN' : ETaric0ta County. State of Arizona Or at such Banil in the city or PEoe- mix. ia said State and County, or ID inc Ci:-- or New York, in tn" state or New York. or such place as may be dosignated by the Common Coun- irl If the City Of Phoenix, at the ontion of the holder of said bonds }nIace of payment to b" mentioned III said bonds and shall be made paNabIe 1 to bearer. and said bonds to De Sl6h"d by the Mayor Of said City of Ph"ehlN land atteeted by the City 1'ecofdeI thereof and have the seal of the said 1 City of Phoenix attached thereto ana leach bond shall have interest coupons lattached thereto so that the same may Inc removed therefrom without mutilat- +ne, th. bonds for the semi-annuaI ln- trrcst to accrue thereon. which "ou- mons shall have a fac-simile of the sirnatilroe of the Mayor and Recorder nt said City of Phoenix Autographed Tor printed thereon, proNdcd' that II sbaH not be necessary to impress upon such coupons the seal ot sal i'l tCitv of Phoenix. Said bonds to be S"ld by the Common Council of the City oi l Phoenix at q regular or special meet line called for that purpose after caoA- Iinor to be entered upon the record ol ..id inc Common Council of the '1tN of Phoenix an order directing 'Ht sale of said bonds and the date ana hour of said sale and shall cause '' copv If said order to be pupll9Ilt" for at least four consecutive W"eh9
 before said sale in such daIlN or
 weekly newspapers as may be desig- hated by said Common Council "l inc City of Phoenix. together with a jEot;ce that sealed proposals will he
 received by it for the purchase of Sald bonds on the date and hour named in eaid order said The Common
 Council of the City of Phoenix shall ali said time and at u meeting to be held for such purpose, open all sealed proposals received by them ana Shaii Inward the purchase of said bonds to
 the highest and best reSponslple plu der. provided that none of sad pohuS shall be sold for less amount than par
 with accrued interest, and all bIdS or proposals received for the purchase oi
 said bonds or other evidences of hl-
 Indebtedness shall he accompanied bN
 a certified check not less than i've
 per cent C5fC) of the total amount 'l
 laid bid and the Common Council of
 the City of Phoenix shall reserve the ripht to reject any and all bids ana 7 all such certified checks accompany ing bids which are not accepted ane } which are rejected. shall be returned $ to the parties rendering the same / Certified check so deposited by sue ? cessfuI bidder shall be retained bA l said Common Council of the City oi l Phoenix and shall be forfeited in th' ! event that such bidder shall not carr2
 out the terms of the contract, proVid- - ed herein to be entered into Th' Q Citv Recorder of the City of Phoeni' = shall enter upon the record of tn