Arizona republican., 1919-06-24
Legal Advertising
ORDINANCE NO. 271.

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 MOURNING 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 RCH ASING. CONSTRUCTING AND INSTALLING A WATER WORKS SYSTEM TO SUPPLY SAID CITY WITH WATER, SAID WATERWORKS SYSTEM TO BE OWNED AND CONTROLLED EX- CLUSIVELY BY SAID CITY, AND DECLARING AN EMERGENCY.
 WHEREAS, in the opinion of 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 said 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 ol bonds in the aggregate principal sun of One Million Three Hundred Thous- and Dollars, for the purpose of pur- chasing, constructing and installing waterworks system, and
 WHEREAS, it is provided by Chapter ?, Title 52, of the Revised Statutes oi Arizona, 1913, Civil Code) that priol 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 of the property taxpayer of the City of Phoenix, wh' in all other respects shall be quallfle' electors in said City, for their deter imitation; NOW, THEREFORE,
 BE IT ORDAINED BY THE COMMIS
 SION OF THE CITY OF PHOENIX AS FOLLOWS:
 I said property taxpayers, who in al 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 aggregat sum of S1,300, ,000.00, and the proceed of the sale thereof shall be used fo the purpose of purchasing, construct ing and installing a waterworks sys ten to be owned and controlled by sai City; that said bonds shall bear tn date of their issuance and shall matur January l, 1950 they shall be in tn denomination of $1,000.00 each an shall be numbered censecutively fror one to thirteen hundred. both inclusive they shall be payable to bearer and bea interest as evidenced by coupons at tached thereto at the rate of per cen per annum, payable semi annually o the first days of January and Jul! beginning January 1, 1920. at som bank in the City of New York, Stat of New York; said bonds shall b signed and attested by the Mayor an City Clerk and coupons for the interes thereon shall be attached to each ( said bonds and each of said coupon shall bear a fac-simile of the sigma lures of the Mayor and City Clerk a such signatures appear on said bonds
 Section 2. That special election b the property tax payers of the City ( Phoenix. who in all other respects sha be qualified electors of said City, b and the same is, hereby called and di rected to be held in accordance wit law on the 26th day of July, A. D. 191 for the purpose of determining whetht such indebtedness in such amount sha be authorized.
 Section g. That at said special cleo ton the following question shall be, an is, hereby submitted to the legal qualified property taxpayers of the Cit of Phoenix, Maricopa County, Arizon who in all other respects shall be qual fled electors in said City for their dt termination, towit:
 Shall the Commission of the City Phoenix, Maricopa county, State Arizona, be authorized to create an 1T debtedness for and on behalf of u said City of Phoenix, and upon u credit thereof in excess of four pi centum of the value of the taxab property of said City. but not in exce of fifteen per centum of the value said taxable property of the City
 Phoenix. by issuing negotiable coupe bonds of said City in the amount
 One Million Three Hundred ThousaI Dollars, for the purpose of acquiril