Carson City daily appeal. [volume] (Carson City, Nev.) 1907-1930, 1916-06-15

Sinking Fund shall then cease.
THEREFORE BE 1T RESOLV-
ED. That the City Trustees of Car
City, Nevada. pass an ordinance
a bonded indebtedness in the
sum of $35,OOO.U for the purpose of
Carson Street of said Carson
City, from Washington Street on n
north to Second street on the south.
with a hveIinoh concrete base and an
inch and a half asphalt top in accord
ance with the plans and Specifications
file in the Office of the City Clerk
of said Carson City. but at a cost not
to exceed 20 cents per square foot.
and for the further purpose of doing
all things necessary or incidental
Herewith; said bonds be issued in the
name of Carson City. and for one
hundred dollars ($lOO) denomination
each. bearing interest at the rate of
5 per cent per annum, interest pay
able semi-annual1y: that the Board OF
City Trustees cause said bonds to be
prepared in proper form. PAYABLE to
bearer at such times IS NAV be DEEM
ed proper by said Board. but not later
said bonds be signed by the President
of h Board and countersigned by
the Clerk of the Board who shall at
tach thereto the official seal of said
city; hat the said Board shall have
power to negotiate the, sale of said
bonds at the time and in the manner
they may deem fit. but for not less
than their par value: that the moneys
collected hereunder be paid into a
fund to be created and called the
Street Paving Fund. and that all mon
eys coming into said fund be applied
solely for the purpose of so paving
said portion of said Carson Street and
doing those things necessary or in
be redeemed only at the office Of the
Clerk of Carson City. and at the rate
of thirty-five bonds or $3,5OO.U per
annum, from the 10th day of June.
1918, until the, whole thereof have
been redeemed. but not later than the
10th day of June, 1923; hat said or
dinance provide for the levying and
collecting of a special annual tax suf-
hcient to pay $50, 10000 of said bonds.
being the citv's portion of the cost Of
said pavement and other things incl
dental therewith; that said annual tax
shall not exceed 80 cents on each one
hundred dollars ($10O) assessed valu-
alton of all taxable property situated
within the corporate limits OF Carson
City. Nevada; that the first INSTALL
1 tllCIt VI Sdlu tdN NC ~ 81 TIA III
| first half thereof will be collected at
| the November collection of taxes.
| 1917; that said tax terminate and end
| by or before the June collection OF
taxes. 1923; that said tax be known
as and called the Street Tax: that
| all oneys collected hereunder be
| placed in a special fund to be known
as amid called the Street Sinking Fund:
that said bonds and interest thereon
| be paid from the money coming into
said fund bv reason of SAID tax and
the street assessments as hereinafter
provided. and that the in said
fund be used for no other purpose.
hut that after all bonds and interest
| manning in said fund shall be ans
| feTred to the General Fund of said
| city. and said special Street Fund shall
| cease.
BE 1T FURTHER RESOLVED.
That this Board pass an ordinance re-
quiring all owners of assessable real
property abutting on that portion OF
Carson Street of CARSON City. Ne
vada. lying between Washington
Street on the north and Second Street
on the south. to pay for the cost of
paving to the center of said abutting
their said property according to
the plans and specifications on file in
the City Clerks office, of said Carson
City. according to the frontal feet
thereof; that said cost shall not ex-
said property owner shall have the
optional right to pay said assess
ment in cash within fifty DAYS after
the completion of said pavement and
acceptance by the city. or the right
to pay said assessment in equal an
nual installments extending over a
| period of ten years. together with in
terest on all unpaid instalments. at
| the rate of 5 per cent per annum. in
| terest payable semi-annually. and said
| installments and interest to be col
lected at the times and in the manner
as the city taxes of Carson City are
| collected. the first half of the first in
! stallment and interest to be collected
in the November collection of taxes.
1917, and the whole assessment. to-
| gether with interest, to be paid Dy or
before the June collection of taxes
1923; that said assessment. together
with interest thereon. shall become a
lien against the property so assessed.
| and that all moneys collected by reas-
on of said assessment. and interest
due thereon. be placed in the Street
Sinking Fund. to be created. and all
moneys so placed in said fund by reas-
| on of said assessment and the special
tax as hereinbefore provided be used
! only for the purpose of paving OF
| tine bonded Indebtedness of said Car
| SON City as above provided. and
BE 1T FURTHER RESOLVED
| That this RESOLUTION be spread
upon the minutes of this Board. and
be published in the Carson City News
and the Carson CITY Daily Appeal for
the full period of four weeks.
Approved this I'D OF May. 1916.
ALEXANDER MACDONALD.
President ,of the Board of City Trus-
tees of Carson City. Nevada.
Attest, this 22d day of Nav. 1916.
DANIEL E. MORTON.
Clerk Of the Board
Date of first publication. Nav y.
1916.
Date of last publication. June 10.
1916.