Carson City daily appeal. [volume] (Carson City, Nev.) 1907-1930, 1916-05-29

- 49, on
front OF L. S. Mint -.~.-. 1889
5. Paving and grading in
front OF U. S. PostofNce 1.32027
g.. Paving and gradir~ in
front Of private property l4.So9.76
Total S3O.32S.8e
WHEREAS. 1t NAV become. neces-
sary to make changes in cross cuiverts
and cover tops and to make other
changes which ma become necessary
by reason of said pavement. and to
incur other expenses incidental there
with, and further expense by reason
If the t1%uCtuation OF the market prices
OF the materials to be used. all oi
OF about $4,67l.11 over and above the
estimate above given. and
WHEREAS, Twenty-Five cents Der
square foot appears to be a proper
maximum cost for the said pavement.
and
WHEREAS, 1t appearing proper
that the cost OF SO paving in front
OF assessable property abutting on said
portion OF SAID street be assessed to
the owner of said property according
to the frontal feet thereof; that said
property owners have the optional
right to pay said assessment in cash
within fifty days after completion OF
said paving and acceptance by the
city or the right to pay said assess
ment in equal annual instruments ex-
tending over a period Of ten years. to-
gether with interest at the rate OF
five per cent per annun on all I'M
paid installments. interest PAYABLE
seani-annually t. be collected at the
times and in the manne as city taxes
for Carson City are collected the first
half Of the first installment, with in
terest then due. to- be collected in the
November collection OF taxes. 1917.
and the whole assessment together
with interest to be paid by or before
the June collection of taxes 1923; that
said assessment together with interest
thereon become a lien against the
property SO assessed. and all monev
collected by reason o. said assessment
and interest due thereon. be placed in
a special fund to- be known as and
called the Street Sinking Fund. and
WHEREAS. 1t will become neces-
sary for said Carson City to pledge its
credit in the sum of 100000 for the
| purpose of so paving said portion Of
Carson street. and it appearing proper
to issue bonds in the name OF Carson
City, OF $4,000 denomination each.
bearing interest at the rate of five per
cent per annum. interest PAYABLE on
the 10th day Of June and December Of
each year until all bonds have been
paid and in TIE aggregate OF S35,OOO.-
GO; that the Board of City Trustees
cause said bonds to be prepared in
proper form and be made PAYABLE to
bearer not later than the 10th dav of
June. 1923; that the said bonds shall
be signed by the President of said
Board and countersigned bv Clerk
of the Board. who shall attach there
to the official seal of said city: that
said bonds be redeemed only at the
office of tho Clerk of Carson City.
and at the rate of at least thirty-five
bonds or $3,5OO.O per annum. from
the 10th day of June, 1918. until the
whole have been redeemed but not
later than the 10th dav of June. 1923.
and that said Board shaln have the
power to negotiate the sale of said
bonds at the time and in the manner
as they may see fit, for not less than
collected thereby shall be placed in a
fund to be created and called the
Street Paving Fund. and hat all mon
eys coming into said fund shall be ap-
piled solely for the purposes above
mentioned. and
WHEREAS. $40 10000 of the cost
OF SO paving said portion Of said
street, being the cost of paving in
front of the United States mint. the
United States postoffice. the State |
Capitol, the County building and the
intersections of cross streets with said
portion of Carson street. and other
expenses which may be necessarily
involved. will have to be paid Dy sand
Carson City at large. or in other |
words. said sum will thave to be rails
ed by said Carson City and applied to
the payment of $40. 100 Of said bonds. |
) per cent per annum on all unpaid |
bonds. and therefore it will be neces-
sarv for this Board to levy and COL
leCt annually a special tax sufficient
to pay said bonds as they become due.
together with interest due thereon.
and it appearing proper that said tax
should not exceed 80 cents on each
$lOO assessed valuation of all taxable
property situated within the corDor-
ate limits of Carson City. Nevada;
that THE first installment of said tax
should be- levied so that it will be col
1ected in the November collection of
taxes of 1917. and that said tax should
continue not later than the June col
leCtlOn OF taxes lSZS. tnat the mOn-
eys collected hereunder be placed in
a special fund to be known as and
called the Street Sinking Fund; that
said bonds and interest be paid from
the moneys coming into said fund by
reason of said special tax and said
street assessment as above mention
ed; that the in said fund be
used for no other purpose than the
purposes herein mentioned. and that
if at the time all bonds and interest