Arizona republican., 1913-07-05

14 I- LOWS:
 First: That the following proro-
 sitiOn be, and the same is hereby submitted to the qualified electors
 and property tax payers subject to
 taxation within the corporate limits
 within 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 31st day of July, 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 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 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 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,- OOO,O0O, and to provide funds to the amount of Twenty-Five Thousand Dollars ($25, ,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 used 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 ($25, ,OOO.OO) for the purpose of street improve ments. and particularly the 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 (57) feet; said Van Buren Street when so widened to be for public use. Said bonds to be in denominations of Five Hundred Dollars ($500.00) 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 C$17,5OO.00) thereof per annum from and after the expiration of ten 10) 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, 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 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 attached thereto so that the same may be removed therefrom without mutilat- ing the bonds for the semi-annual ln- 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 Autographed or printed thereon. provided. that it l shall not be necessary to impress upon such coupons the seal of said