Arizona republican., 1913-10-01
RESOLUTION NO. 622

a resolution ordering an election to
authorize the issuance of bonds for
funding the floating Indebtedness of
the City of Phoenix up to July /.
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 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-
zona 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, 00000), for the purpose
Of funding it's floating Indebtedness
up to July 1, 1913, amounting to APP
proximately One Hundred and Twen-
ty-five Thousand Dollars $125,O0OO0);
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 ($25, 100000 for the purpose
Of street improvements, and particu
Iarly 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 (5O 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 ap-
paratus and the establishment of
sub stations for the said fire depart
ment. Said bonds shall be in de-
nominations of Five Hundred Dollars
($50000) each, shall bear the date of
their issuance and be numbered con-
secutively from One upwards, the
principal to be due in twenty (2O)
years from date thereof, provided
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
Thousand Dollars ($25, 100000 thereof
per annum from and after the ex-
piration of ten (10) years from their
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
! January and July of each year after