Arizona republican., 1913-09-17


 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 blc prOptrty in said city, as is aScCr- tained 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 Two Hundred and Fifty Thousand Dollars ($250.000.00), for the purpose of funding it's floating indebtedness up to July l, 1913, amounting to ap- rroXimRtely one Hundred and Twen- ty-fiVe Thousand Dollars ($125, 900 00) to provide funds to the amount of Twenty-Five Thousand Dollars for the purpose of purchasing two or moro tracts of land to be hereafter select ed by the Common Council of the City of Phoenix, said land to be used hy 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. .0G0.0D for the purpose of street improvements. and particu- larly 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 fp to the amount of Seventy-five Thous- and Dollars ($75. .00O.O0) for the pur- pose of enlarging the fire depart ment of the City of Phoenix and in creasing it's 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 .($500.00) each, shall bear the date of their issuance and be numbered con secutiVely from One upwards. the principal to be due in twenty C20 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 C$25, ,00O.00) thereof per annum from and after the cx- piration of ten G0) 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 mi-annually 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 of flee of the City Treasurer of the City Of Phoenix, Maricopa County, State of Arizona. or at such Bank in the City of Phoenix, 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 Council of the City of Phoe- nix, 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 are to be signed by the Mayor of said City of Phoenix and at tested by the City Recorder thereof aEd to have the seal of the said City O. Phoenix attached thereto. and each bond shall have interest coupons at tached thereto so that the same may hc removed therefr0m without mutt lating the bonds for the semi-annual interest to accrue thereon, which coupons shall have fac similc of the signatures of the Mayor and Re cOrder of said City of Phoenix Htho- graphed or printed thereon. provided. that it shall not be necessary to i'm press upon such coupons the seal Of said City of Phoenix. Said bonds Sndll he sold hN of the City of Phoenix at 9 regular or special meeting called for that purpose after causing 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 1 and shall cause q copy of said order l to be published for at least four consecutive weeks before said sale in l such daily or weekly newspaper or ! newspapers as may be designated by | said The Common Council of the City of Phoenix, together with a notice l that sealed proposals will he received | by 1t for the purchase of said bonds | on the date and hour named in said | order. Said The Common Council of 1 he City of Phoenix shall at said time | and at d meeting to be held for such 1 purpose oPen all sealed proposals re -eived by them and shall award the purchase of said bonds to the high est and best responsible bidder. pro- Vided that none of said bonds shall De sold for less amount than par with accrued interest, and ail bids or 9, opOsals received for the purchase jf said bonds or other evidences Of indebtedness shall be accompanied by l certified check not less than five per cent c per cent of the total mount of said bid and The Common Council of the City of Phoenix shall 'eserVe the right to reject any and l III bids and all such certified checks accompanying bids which are not ac- ;epted and which are rejected, shall 'e returned to parties rendering the anne. Certified check so deposited by he successful bidder shall be retained " said The Common Council of the City of Phoenix and shall be for II