Arizona republican., 1919-07-20
ORDINANCE NO. 271

after referred to, which said ordinance is as follows:
 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 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 PURCHASING, CONSTRUCT ING 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
 
 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 of bonds in the aggregate principal sum of One Million Three Hundred Thou sand 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 of 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 1 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- nix shall be issued in the aggregate sum of s1,300, ,000.00, and the proceeds l of the sale thereof shall be used for | the purpose of purchasing, construct | ing and installing waterworks sys- | tenn to be owned and controlled by said | City; that said bonds shall bear the 1 date of their issuance and shall mature January 1, 1850; they shall be in the denomination of s1,0G0.00 each and shall be numbered consecutively from one to thirteen hundred, both inclusive; | they shall be payable to bearer and l bear interest as evidenced by coupons attached 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 an6 | City Clerk and coupons for the interest | thereon shall be attached to each oi said bonds and each of said coupons shall bear a -simile of the sigma lures of the Mayor and City Clerk as such signatures appear on said bonds
 Section 2. That special election by the property taxpayers of the City O Phoenix, who in all other respects shal be qualified electors of said City, be and the same is, hereby called and di rected to be held in accordance witl law on the 18th day of July, A. D. 1919 for the purpose of determining whether such indebtedness in such amount shal be authorized.
 Section B. That at said special cleo tien the following question shall be and is, hereby submitted to the legal. qualified property taxpayers of the Cit. 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 0 Phoenix, Maricopa County, State o Arizona, be authorized to create an in debtedness for and on behalf of tn,