Arizona republican., 1919-06-20
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, I1S EXCESS
 OF FOUR PER CENT OF THE
 VALUE OF THE TAXABLE PROP
 ERTY OF THE SAID CITY OF
 PHOENLX, 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 H 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 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 ?, Title B, 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 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- nxi shall be issued in the aggregate sum of $1,300, 100000, and the proceed! of the sale thereof shall be used fol the purpose of purchasing. construct ing and installing ] waterworks SyS tenn to be owned and controlled by sait City: that said bonds shall bear tn date of their issuance and shall matur, January 1, 1850; they shall be in th' denomination of $1.00000 each anC shall be numbered consecutively iron 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 ol the first days of January and July 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 o said bonds and each of said coupons shall bear a fac -simile of the sigma lures of the Mayor and City Clerk a such signatures appear on said bonds. Section ?. That a special election b. the property tax payers 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 wit ] law on the 18th day Of July. A. D. 1919 for the purpose of determining whethe