Carson City daily appeal. [volume] (Carson City, Nev.) 1907-1930, 1916-06-02

Fund of said city. and said Street
Sinking Fund shall then cease.
THEREFORE BE 1T RESOLV-
ED, That the City Trustees Of Car
son City, Nevada. pass an ordinance
creating a bonded indebtedness in the
paving Carson Street of said Carson
City. from Washington Street on the
north to Second street on the south.
with a hVe-lnoh concrete base and an
inch and a half asphalt top in accord
anoe with the plans and specifications
on 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
nam of Carson City. and for one
hundred dollars ($1OO) denomination
each. bearing interest at the rate of
5 per cent per annum interest pay
able semi-annually; that the Board OF
City Trustees cause said borids to be
prepared in proper form. payaofe to
bearer at such times as may be Deem
ed proper by said Board. but not later
than the 10th day of June. 1923: that
said bonds be signed by the President
Of the Board and countersfgned by
the Clerk OF the Board who shall at
tach thereto the official seal Of SAID
city; that 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
cidental t~herewith; that said bonds
be redeemed only at the office of the
Clerk of Carson City. and at the rate
of thirty-hve bonds or $3,5OO.U per
annurn. from the 10th day of June.
1918, until the, whole thereof have
been redeemed. but not later than the
10th day of June. 1923: that said or
dinance provide for the 1evving and
collecting of a special annual tax sut-
hcient to pay $50. 10000 of said bonds.
being the citv's portion of the cost OF
said pavement and other things Incl
dental Herewith: that said annual tax
shall not exceed 80 cents on each. one
hundred dollars ($1OO) assessed valu-
alton of all taxable, property situated
J within the corporate limits of Carson
| City. Nevada: THAT the first Install
| ment Of said tax be levied SO that the
| first half thereof will be collected at
| the November collection of taxes.
1917; that said tax terminate and end
by OF before the June collection of
taxes. 1923; that said tax be known
as and called the Street Tax: that
all moneys 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 moneys coming into
said fund bv reason of said tax and
the street assessments as hereinafter
provided. and that the moneys in said
fund be used for no other
but that after all bonds and interest
have been paid. all n then re-
naming in said fund shall be trans
ferred to the General Fund of said
city. and said special Street Fund shall
cease.
BE IT FURTHER RESOLVED.
That this Board pass an ordinance re-
curing 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-
coed 20 cents per square loot: that
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 rlght
to pay said assessment in equal an
nual I~nstallmentS extending over a
period OF ten years. together with IN
terest on all unpaid installments. at
| the rate of 5 per cent per annum. in
terest payable s~emi-annually. and said
installments and interest to be col
lected at the times and in the manner
as the city LAKES OF Carson City are
collected. rle first half of the first in
stallment and interest to be collected
in the November collection OF axes.
1917. and the whole assessment. to-
| gether with interest. to be paid Dv or
before the June collection of taxes
1923: that said assessment. together
| with interest thereon. shall become a
lien against the property so assessed.
md that all moneys collected by reas-
on of said assessment. and interest
due thereon. be placed i'll 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 h%ereinbefore provided be used
only for the purpose OF paving Oft
| 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
I and tire Carson City Daily Appeal for
the full period of four weeks.
Approved this I'D OF MAY. 1916.
ALEXANDER MACDONALD.
President poi the Board of City Trus-
tees of Carson City. Nevada.
Attest, this 22d day of Nav. 1916.
DANIEL f. MORTON.
Clerk of the Board.
Date Of first publication. Nav p.
1916.