Carson City daily appeal. [volume] (Carson City, Nev.) 1907-1930, 1916-06-05

Sinking Fund shall then cease.
THEREFORE BE 1T RESOLL-
ED. That the City Trustees of Car
sol City, Nevada. pass an ordinance
creating a bonded indebtedness in the
sum of $35.OUO.UO for the purpose of
paving Carson Street of said Carson
City, from Washington Street on the
north to Second street on the south.
with a fiveLinoh 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 % 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 (S1OO) denomination
each. bearing interest at the rate OF
5 Der cent per annum. interest pay
able semi-annually; that the Board OF
City Trustees cause said bonds to be
prepared in proper form. payaDie 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 Pre- sident
of the Board and countersIgned by
the Clerk of the Board who shall at
tach thereto the official sea Of sand
city: that the said Board shall have
power to negotiate tine, sale of said
| they may deem fit, but for not less
| than their par value; that the money
| 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 Herewith; hat said bonds
be redeemed only at the office of the
| Clerk of Carson City, and at the rate
| of t%hirty-hve 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 dav of June. 1923; that said or
| dinance provide for the levving and
| collecting OF a special annual tax sur
| icient to pay $50. 10000 of said bonds.
| being the citv's portion of the cost OF
said pavement and other things incl
dental Herewith: that said nnual tax
shall not exceed 80 cents on each one
hundred dollars ($lOO) assessed valu-
alton Of all taxable property situated
within the corporate limits of Carson
City. Nevada; that the first INSTALL
nent of said tax be levied SO that the
| ll1SC NAH tlelcOl VILE NC AOfLCAlCu at
the November collection of taxes.
1917: that said tax terminate and end
by or before the June collection o.
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 and called the Street Sinking Fund;
that said bonds and interest thereon
be paid from the moneys coming into
said fund bv reason of sa,d tax and
the street assessments as hereinafter
provided. and that the in said
fund be used for no other purpose
but that after all bonds and interest
have been paid. all moneys 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 assessabie 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 III
the City Clerks office of said Carson
City, according to the frontal feet
thereof: that said cost shall no ex-
coed ~ 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 right
to pay said assessment in equal an
nual lnStallments extending over a
period OF ten years, together with IN
terest on all unpaid installments. at
the rate of ) per cent per annum. IN
terest payable se~mi-annuallv, and said
insta1lments 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
stal1ment and interest to be collected
in the November collection Of taxes.
1917. and the whole assessment. to-
gethler 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
Sinking Fund, to be created. n 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 OFT
the bonded indebtedness of said Car
som 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 T. MORTON.
Clerk of the Board
] Date of first publication. MAY y.
, 1916.
Date of last publication. June 1o.
1916.