The Coconino sun., 1917-04-27

and said tax, for principal and inter- est, shall be collected and when col lected shall by the town treasurer be kept in separate funds to be design ated respectively, Redemption fund, sewer bonds, dated January 1, 1917" and Interest fund, sewer bonds, dated January 1, 1917" and said funds shall be irrevocably pledged to and used solely for the payment of the prin- cipal of said bonds and the interest thereon hereby authorized when due, so long as any of said bonds or the interest coupons thereto appertaining remain outstanding remain outstand- ing and unpaid, and for greater cer- tainty the town council shall in each of said years 1917 to 1886, both in- elusive, include the bond tax herein above levied for such year in the usual estimate for town purposes for said year; and annually and at the lawful time the said bond tax shall in each of said years be levied and cer- tifed to the town treasurer of said town, extended upon the tax rolls and collected by the same officers, in the same manner, and at the same time as the taxes for general town pur- poses for said town for such year are certified, extended and collected. Pro- viding that nothing herein contained shall be so construed as to prevent said town to apply any other funds that may be in the treasury of said town available for that purpose, to the payment of said interest, or prin- cipal, of said bonds when and as said principal and interest become due and payable, and the levy or levies herein provided for may thereupon to that extent be diminished. "
 Section 4. That on the 18th day of June, A. D 1917, and on the 18th days of June and December, respectively, in each year thereafter, so long as any of the interest coupons appertain- ing to the bonds hereby authorized to be issued remain outstanding and un- paid, the town treasurer shall and he is hereby ordered, authorized and dir ected to remit out of any moneys in his hands belonging to said town, by and through the purchasers of said bonds, in the form of check or draft payable in New York City, U. S. A, sum sufficient to pay the semi-an- nual interest accruing on said bonds on the first days of January and July, respectively, in each year and any and all escrow charges made by said bank for handling said coupons; and on the 18th day of December in each year of the years 1927 to 1886 in elusive, the said town treasurer shar and he is hereby authorized, ordered and directed out of the redemption fund created under the provisions of this ordinance, to remit by and through the purchasers of said bonds by check or draft payable in New York, to said National Bank of Com merce, in New York, a sum sufficient to pay the principal amount of said bonds as may then be outstanding, due and unpaid on January 1st ir each of the years 1928 to 1887 inclr
 i've, and any and all escrow charges made by said bank for handling same.
 Section 5. That the mayor, treas urer and clerk, respectively, of said town, are hereby authorized, ordered and directed to furnish the purchasers of said bonds with such certificates, transcripts or other documents as will fully evidence the proceedings had preliminary to the issuance of said bonds, the regularity and sufficiency thereof, and the acts of said officers in the premises are hereby declared authorized, ratified, approved and confirmed.
 Section 6. That it be and is hereby certified, recited and warranted that all conditions, acts and things neces- sary and essential to the validity of the bonds hereinbefore mentioned and required by law to be done, have been fully done and performed.
 Section z. That the provisions of this ordinance and each of the bonds and interest coupons issued pursuant hereto, shall constitute and the same are hereby declared to be binding and irrevocable contract between said town and the purchasers of said bonds and the holder from time to time of each of said bonds and the interest coupons thereto appertaining.
 Section 8. That any and all ordin- ances, or parts thereof, heretofore adopted in conflict with the provisions hereof, or which would in any way