Arizona republican., 1913-07-06

ness of the City of Phoenix in the
 County of Maricopa, State Of Ari- zona, now being m excess of four per centum of the value of the tax 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 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 One Hundred and Seventy-fiVe Thou 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 ($125,-
 OO0,OOO), and to provide funds to the amount of Twenty-Five Thousand Dollars 5.000.00) 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 (S25O00OO)
 
 ments, and particularly the widening of Van Buren Street by condemna- tion, 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. Said bonds to be in denominations of Five Hundred Dollars ($5OO.OO) 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 ($17, 7,5G0.O0) thereof per annum from and after the expiration of ten GO) 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, or 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, 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 thereto so that the same may De removed therefrOm without mutilat- ing the bonds for the semi annual in terest to accrue thereon which cou- l pOns shall have a fac -simile of the | signatures of the Mayor and Recorder | of said City of Phoenix Autographed i )r printed thereon, provided, that it i shall not be necessary to impress i lpon such coupons the seal of said 1 'ity of Phoenix. Said bonds to be sold ! 1y the Common Council of the City of Phoenix at regular or special meet ng called for that purpose after caus- ng to be entered upon the record of said the Common Council of the City ,f Phoenix an order directing the 'ale of said bonds and the date and 1our of said sale and shall cause a 'opy of said order to be published or at least four consecutive weeks before said sale in such daily or weekly newspapers as may be desig- lated by said Common Council of he City of Phoenix, together with a sealed xUil he l eceived by it for the purchase of said 'ondS on the date and hour named n said order. Said The Common Council of the City of Phoenix shall, t said time and at a meeting to be eld for such purpose, open all sealed ropoSalS received by them and shall ward the purchase of said bonds to he highest and best responsible bid CT, provided that none of said bonds hall be sold for less amount than par rith accrued interest, and all bids or received for the purchase of aid bonds or other evidences of in ebtedness shall be accompanied by
 certified check not less than five CT cent (5Eo) of the total amount of aid bid and the Common Council of he City of Phoenix shall reserve the lght to reject any and all bids and Il such certified checks accompany $ lg bids which are not accepted and mich are rejected, shall be returned 9 the parties rendering the same. . certified check so deposited by suc- essful bidder shall be retained by aid Common Council of the City of 1 ( hoeniX and shall be forfeited in the I vent that such bidder shall not carry ut the terms of the contract, proVid- d herein to be entered into. The l