Arizona republican., 1919-07-15
ORDINANCE NG o71

AN ORDINANCE DIRECTING AND
 CALLING A SPECIAL ELECTION
 WITHIN THE CITY OF PHOENIX,
 ARIZONA, FOR THE PURPOSE OF
 SUBMITTING TO THE QUALIFIED
 ELECTORS THEREIN, THE PROP
 OSITION OF INCURRING AN IN
 DEBTEDNESS BY THE CITY OF
 PHOENIX, ARIZONA, IN EXCESS
 OF FOUR PER CENT OF THE
 VALUE OF THE TAXABLE PROP
 ERTY OF THE SAID CITY OF
 PHOENIX, BUT NOT EXCEEDING
 FIFTEEN PER CENT THEREOF,
 BY THE ISSUING OF THE NEGO-
 TABLE COUPON BONDS OF SAID
 CITY IN THE AGGREGATE PRIN-
 CIPAL SUM OF ONE MILLION,
 THREE HUNDRED THOUSAND
 DOLLARS FOR THE PURPOSE OF
 PUR C H ASING, CONSTRUCTING
 AND INSTALLING A WATER
 WORKS SYSTEM TO SUPPLY
 SAID CITY WITH WATER, SAID
 WATERWORKS SYSTEM TO BE
 OWNED AND CONTROLLED FIX
 CLUSIVELY BY SAID CITY, AND
 DECLARING AN EMERGENCY.
 WHEREAS, in the opinion or the Commission of the City of Phoenix, a municipal corporation within the Coun ty of Maricopa, State of Arizona, the public interests demand that bonds of said City be issued for the purpose of acquiring funds for the purchase. construction and installation of a waterworks system for sad City, and the inhabitants thereof, to be owned and controlled exclusively by said City of Phoenix, and that an indebtedness be created therefor by the issuing of bonds in the aggregate principal sum of One Million Three Hundred Thous and Dollars, for the purpose of pur- chasing, constructing and installing a waterworks system, and
 WHEREAS. it is provided by Chapter 2, Title 52, of the Revised Statutes of Arizona, 1913, (Civil Code) that prior to the creation of said indebtedness and the issuance of bonds therefor. the question of whether said indebted ness shall be authorized, shall be sub mitted to the vote ot the property taxpayer of the City Of Phoenix, who in all other respects shall be qualified electors in said City, for their deter imitation; NOW, THEREFORE
 BE IT ORDAINED BY THE COMMIS-
 SION OF THE CITY OF PHOENIX,
 AS FOLLOWS;
 Section l. That with the assent of said property taxpayers, who in all other respects shall be qualified cleo tors of the City of Phoenix as hereinaf- ter provided, bonds of the City of Phoe- nxi shall be issued in the aggregate sum of $500, ,000.0O, and the proceeds of the sale thereof shall be used for the purpose of purchasing, construct ing and installing a waterworks sys- tenn to be owned and controlled by said City; that said bonds shall bear the date of their issuance and shall mature January 1, 1850; they shall be in the denomination of s1,00000 each and shall be numbered consecutively from one to thirteen hundred, both inclusive; they shall be payable to bearer and bear interest as evidenced by coupons at tached thereto at the rate of per cent per annum, payable semi annually on the first days of January and July, beginning January 1, 1920, at some bank in the City of New York, State of New York; said bonds shall be signed and attested by the Mayor and City Clerk and coupons for the interest thereon shall be attached to each of said bonds and each of said coupons shall bear a fac -simile of the sigma lures of the Mayor and City Clerk as such signatures appear on said bends.
 Section 2 That special election by the property tax payers of the City of Phoenix, who in all other respects shall be qualified electors of said City, be, and the same is, hereby called and di- rected to be held in accordance with | law on the 26th day of July, A. D. 1919 for the purpose of determining whether such indebtedness in such amount shall be authorized.
 1 Section 3. That at said special cleo | ton the following question shall be, and | is, hereby submitted to the legally qualified property taxpayers of the City of Phoenix, Maricopa County, Arizona who in all other respects shall be quail fled electors in said City for their de- | termination. to-wit:
 Shall the Commission Of the City oi Phoenix, Maricopa county, State o1 | Arizona, be authorized to create an in- | debtedness for and on behalf of the said City of Phoenix, and upon thu credit thereof in excess of four pel centum of the value of the taxable propefty of said City. but not in excess l of fifteen per centum of the value oi said taxable property of the City O. Phoenix, by issuing negotiable coupor bonds of said City in the amount O | One Million Three Hundred Thousand Dollars, for the purpose of acquiring funds for the purchase. construction