Arizona republican., 1913-10-07

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 its floating indebtedness up to July l, 1913, amounting to ap- proximately One Hundred and Twen- ty-five Thousand Dollars ($125, ,00O.O0): 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, 5,00O.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 fifty seven (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 ($75,000.00) for the pur- pose of enlarging the fire depart ment of the City of Phoenix and in creasing its 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 (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 five Thousand Dollars ($25, 100000 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 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 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 be removed therefrom without muti- Iating the bonds for the semi annual 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 inn 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 an order directing the sale of said bonds and the date and hour of said sale and shall cause a copy of said order to be published for at least four consecutive weeks before said sale in such daily or weekly newspaper or rewspa pers as may be designated by f7 of to 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 order. Said The Common Council of the City of Phoenix shall at said time, and at a meeting to be held for such purpose, open all sealed proposals re- ceived 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 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 ind debtedness shall be accompanied by a certified check not less than five per cent G per cenD of the total amount of said bid and The Common Council of the City of Phoenix shall reserve the rigkt to reject any and all bids and all such certified checks accompanying bids which are not ac cepted and which are rejected, shall be returned to parties rendering the same. Certir ed check so deposited by the successful bidder shall be retained by said The Common Council of the City of Phoenix and shall be for feited in the event that such bidder shall not carry out the terms of the contract, provided herein to be entered into. The City Recorder of the City of Phoenix shall enter upon the record of the proceedings of The Common Council of the City of Phoe nix the amount of bonds sold, their numbers and dates.
 Second: That said election shap be held on the 11th day of October, A. D, 1913, between the hours of 6 nFa +