Arizona republican., 1919-06-26
ORDINANCE No. 271

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 OSIT1ON OF RECURRING 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
 DECLARING AN EMERGENCY.
 WHEREAS, in the opinion of the
 
 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 waterworl1s 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 ot bonds in the aggregate principal sum of One Million Three Hundred Thou sand Dollars, for the purpose of pur- chasing, constructing and installing 8 waterworks system, and
 WHEREAS, it is provided by Chapter 2, Title 52, of the Revised Statutes ot 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, whC 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 o 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 nix shall be issued in the aggregat sum of S1,300, ,00000, and the proceed of the sale thereof shall be used fo | the purpose of purchasing, construct | ing and installing a waterworks sys | tenn to be owned and controlled by sai' | City; that said bonds shall bear tn | date of their issuance and shall matur January l. 1850; they shall be in tn | denomination of S1,0G0.00 each an l shall be numbered consecutively iron one to thirteen hundred, both inclusive l they shall be payable to bearer an | bear interest as evidenced by coupon l attached thereto at the rate of 5 pc cent per annunl, payable semi-annuall on the first days of January and July beginning January ], 1920, at som | bank in the City of New York, Stat of New York: said bonds shall signed and attested by the Mayor an City Clerk and coupons for the interes l thereon shall be attached to each ( said bonds and each of said coupon | snail pear d ldC-SlHllle Ol tue SlSilst lures of the Mayor and City Clerk a l such signatures appear on said bond Section 2. That a special election the property taxpayers 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 whethe such indebtedness in such amount sha be authorized.
 Section 5. That at said special cleo tion the following question shall b and is, hereby submitted to the legall qualified property taxpayers of the Cit of Phoenix, Maricopa County, AriZon; who in all other respects shall be quail fled electors in said City for their dc termination, to-wit:
 Shall the Commission of the City ( Phoenix, Maricopa County, State ( Arizona, be authorized to create an ir debtedness for and on behalf of tf said City of Phoenix, and upon u credit thereof in excess of four pt centum of the value of the taxab property of said City but not in exces