Arizona republican., 1913-10-10
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 l. 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 11th 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 ble prOptrty in said city, as is ascer- tained 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 or Phoenix, in said County and State, issue bonds of the City of Phoenix, in the amount of Two Hundred and Fifty Thousand Dollars ($250 GOO 00), for the purpose Of funding it's floating indebtedness up to July l, 1913, amounting to ap- prOximately One Hundred and Twen- ty-fiVe Thousand Dollars ($125, 900. 0O) i; 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 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, ,0O0O0) 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 (JO 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, ,O00.00) 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 ($5OO.00) each. shall bear the date of their issuance and be numbered con- secutively from One upwards, the principal to be due in twenty (20) 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 Thousand Dollars ($25,00OOO) thereof per annum from and after the ex- piration of ten GOD 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 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 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 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 ard to have the seal of the said City Of Phoenix attached thereto, and each bond shall have interest coupons at tached thereto so that the same may hc removed therefrom without mutt Iating the bonds for the semi annual interest to accrue thereon, which shall have a fac simile of the signatures of the Mayor and Re- corder of said City of Phoenix litho- 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 shall be sold by the Common Council of the City of Phoenix at a 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 m order directing the sale of said bonds and the date and hour of said sale and shall cause copy of said order to be published for at least four weeks hafore id caIn in