Arizona republican., 1913-09-15

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 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,OOO.OO), 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 C$125, ,0O0.OO);
 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
 by 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, ,000.00) 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 fiftyseven (5O 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, ,00O.0O) 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 (2O)
 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,O ,OOO.OO) thereof pCI siiiHUIn rom anu dileG I0C G&- piration of ten GO) 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
 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 and 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 he removed therefrom without mutt lating the bonds for the semi-annuaI interest to accrue thereon, which coupons 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 1 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 | and shall cause a 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 l said The Common Council of the City of Phoenix, together with a notice | that sealed proposals will be received | by it for the purchase of said bonds | on the date and hour named in said 1 order. Said The Common Council of l the City of Phoenix shall at said time. l and at a meeting to be held for such l purpose, open all sealed proposals re- CeiVed by them and shall award the | purchase of said bonds to the high 1 est and best responsible bidder pro- Vided 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 1 indebtedness shall be accompanied by | a certified check not less than five | per cent G per cent) of the total | amount of said bid and The Common 1 Council of the City of Phoenix shall | reserve the right to reject any and | all bids and all such certified checks | accompanying bids which are not ac- cepted and which are rejected shall i be returned to parties rendering the | same Certified check so deposited by |, the successful bidder shall be retained l by said The Common Council of the l City of Phoenix and shall be for | ceited in the event that such bidder l shall not carry out the terms of i