Carson City daily appeal. [volume] (Carson City, Nev.) 1907-1930, 1916-06-14

Sinking Fund shall then cease.
THEREFORE BE 1T RESOLV-
ED. That the City Trustees of Car
son City. Nevada. pass an ordinance
creating q bonded indebtedness in the
sum Of $35.OUO.O for the purpose of
paving Carson Street of said Carson
City, o Washington Street on the
north to Second street on the south.
with a hve-lnoh concrete base and an
ance 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 ~ 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 ($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 bonds to be
prepared In proper form. PAYABLE to
bearer at such times as NAV 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 countersigned 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 tine, sale of said
bonds at the-time and in the manner
they may deem fit. but for moi 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
ciden.al Herewith; that said bonds
be redeemed only at the office of the
Clerk of Carson City. and at the rate
of thirty-fve bonds or $3.5OO.M per
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 Lowing and
collecting of a special annual tax surf
fcient to pay $40. 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 ($1OO) assessed valu-
alton of all taxable property situated
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 or before the June collection of
taxes, 1923: that said tax be known
as and called the Street Tax: that
| all 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 Dv reason of SAID tax and
! the street assessments as hereinafter
| provided. and that the moneys in said
| fund be used for no other purpose.
hut that after all bonds and interest
have been paid. all 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 1T 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 % cents per square foot: that
said property owner shall have the
optional right to a said assess
| ment in cash within fifty DAYS after
the completion of said pavement and
acceptance by the city. or the right
~ co1y eo,I -, o1,,,1 -
nual installments 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 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 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.
and that all moneys collected by reas-
on of said assessment. and interest
due thereon. be placed in the Street
N L III ~ " AeotSo "AN ~
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 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
and the Carson City Daily Appeal tor
the full period of four weeks.
Approved this 22dI 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 F. MORTON.
Clerk of the Board
Date of first publication. Nav Y.
1916.