Arizona republican., 1913-07-07

1 The aggregate amount of indebted
 ness of the City of Phoenix in the
 County of Maricopa, State of Ari- l ZOna, now being in excess of four l 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 l purposes, made previous to mourning
 of the indebtedness contemplated by l this resolution, shall The Common 1 Council of the City of Phoenix, in said l County and State, issue bonds of the 1 City of Phoenix in the amount of l One Hundred and Seventy-five Thou sand Dollars ($175, 5,000.00) for the pur- pose of funding it's floating indebted l ness up to July 1St, 1913, amounting 1 to approximately One Hundred and | Twenty-Five Thousand Dollars (S125,
 l 000,000), and to provide funds to the 1 amount of Twenty-Five Thousand 1 Dollars (s25, 5,O0O.O0) for the purpose of purchasing two or more tracts of land i to be hereafter selected by The Com l mon Council of the City of Phoenix, i said land to be useu by said City | of Phoenix and the inhabitants there | of as public parks, and further to 1 provide funds to the amount of TWen-
 tyfive Thousand Dollars C$25,00O00) 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 (50 feet; said Van Buren Street when so widened to be for public use. Said bonds to be in denominations of 1 (SE00
 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 l 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 | (s17, ,50O0O) 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
 1 est thereon shall be paid semi annual
 1 ly on the first day of January and July of each year after their issuance. i Principal and interest shall be paid l in gold coin of the United States of 1 America in the office of the City | Treasurer of the City of Phoenix, l Maricopa County. State of Arizona, l or at such Bank in the City of PhOe
 | nix, in said State and County, in 1 the City of New York, in the State | of New York, or such place as may 1 be designated by the Common COun- cil of the City of Phoenix, at the
 option of the holder of said bonds; 1 place of payment to be mentioned in said bonds and shall be made payable
 to bearer and said bonds to be signed 1 by the Mayor of said City of Phoenix l and attested by the City Recorder 1 thereof and have the seal of the said l City of Phoenix attached thereto, and | each bond shall have interest coupons l attached thereto so that the same may l be removed therefrom without mutilat- l ing the bonds for the semi annual in | terest to accrue thereon which COu- pons shall have a ac-simile of the
 signatures of the Mayor and Recorder ! of said City of Phoenix lithographe or printed thereon, provided, that it ! shall not be necessary to impress
 upon such coupons the seal of said lCity of Phoenix. Said bonds to be sold | by the Common Council of the City of 1 Phoenix at a regular or special meet | ing called for that purpose after caus- l ing to be entered upon the record of i said the Common Council of the City l of Phoenix an order directing the 1 sale of said bonds and the date and 1 hour of said sale and shall cause a 1 copy of said order to be published l for at least four consecutive weeks 1 before said sale in such daily or l weekly newspapers as may be desg-
 mated by said Common Council of | the City of Phoenix, together with a l Notice that sealed proposals will be ] received by it for the purchase of said 1 bonds on the date and hour named i in said order. Said The Common l Council of the City of Phoenix shall,
 at said time, and at a meeting to be | held for such purpose, open all sealed l proposals received by them and shall
 award the purchase of said bonds to | the highest and best responsible bid l der, provided that none of said bonds
 shall be sold for less amount than par
 with accrued interest, and all bids or
 proposals received for the purchase of said bonds or other evidences of in debtedneSS shall be accom- panied by a certified check not less than five 1 per cent (59o) of the total amount of said bid and the Common Council of 1 the City of Phoenix shall reserve the
 right to reject any and all bids and l all such certified checks accompany 1 ing bids which are not accepted and
 which are rejected, shall be returned to the parties rendering the same.
 Certified check so deposited by sue cessful bidder shall be retained by said Common Council of the City of Phoenix and shall be forfeited in the event that such bidder shall not carry
 out the terms of the contract. provid- ed herein to be entered into, The