The Winslow mail., 1920-08-27
AN ORDER OF THE COMMON couN-


DIRECTING THE SALE OF BONDS
OF SAID TOWN OF WINSLOW
STATE OF ARIZONA, IN THE AG-
GREGATE AMOUNT OF $30,0Oe.0s
AND A NOTICE CALLING FOR
SEALED PROPOSALS FOR THE
PURCHASE OF SAME.
ORDINANCE NO. SO
AN ORDINANCE OF THE TOWN OF
WINSLOW, STATE OF ARIZONA,
DIRECTING THE PREPARATION
OF BONDS OF SAID TOWN OF
WINSLOW TO THE AMOUNT OF
$30,00O.0O AS AUTHORIZED BY
ORDINANCE NO. "a, AND AS AP-
PROVED AT THE SPECIAL. ELEC-
TION HELD ON THE oath DAY
OF JULY, 1920, AND PROVIDING
FOR THE SALE OF SAID BONDS.
WHEREAS, under Ordinance No.
"a the issuance of bonds of the Town
Of Winslow, State of Arizona, in the
aggregate amount Of $3O,000.00, the
proceeds thereof to be used for the
purpose of purchasing and acquiring
the gas plant, it's equipment and dis
tributing system and franchise in
connection Herewith owned by the
Winslow Gas Light and Heat Com
pany, corporation, and for the pur-
pose of providing reserve fund for
the Improvement, betterment and
maintenance of said gas plant, the
same to be owned and controlled by
said Town of Winslow, a special cleo
tion of the property taxpayers of
said Town of Winslow, who in all
other respects are qualified electors
in said Town, was held on the Oath
day of July, 1920, at which election
there was submitted the proposition
of the creation of said indebtedness
by the issuance of said bonds for said
purpose, and
WHEREAS, at said election
majority of said property taxpayers
voted in favor of the creation of said
by the issuance of said
bonds as fully appears by the certii-
cate duly made by the members of
the said Common Council of the said
Town of Winslow on the 9th day of
August, 1920, and which said certifl-
cate is duly recorded in the office of
the County Recorder of the County
Of Navajo, State of Arizona, and
WHEREAS, by virtue of said Ordi-
nance and the result of said election
as shown by said certificate, it is now
made the duty of the said Common
Council of the said Town of Winslow
to proceed to carry out the object of
said election.
NOW THEREFORE,,
BE 1T ORDAINED BY. THE COMMON
COUNCIL OF THE TOWN OF WIN
SLOW, AS FOLLOWS:
Section l. That the Town Clerk of
he Town of Winslow, is hereby di-
'ected to have prepared bonds of the
Town of Winslow. State of Arizona,
n the aggregate sum of $30,000.00, of
he denomination of $1,OOOOO each, to
oe numbered consecutively from 1 to
30 inclusive, to bear the date of the
ISSUANCE thereof, which shall be the
date of September 18th, 1920, when
the same shall be executed by the
Mayor and Town Clerk, said bonds
shall bear interest at the rate of g.
per cent per annum, payable semi
annually on the first days Of January
and July, respectively, of each year
They shall be made due and payable
as follows: ten Q0) of said bonds
numbered from 1 to 10, inclusive,
shall be due and payable ten (10)
years after the said date of issuance;
ten (10) of said bonds numbered from
II to 20 inclusive, shall be due and
payable fifteen (15) years after date
Of issuance, and ten (10) of said bonds
numbered from 21 to 80 inclusive,
shall be due and payable twenty (20)
years after the date of issuance. They
shall be made payable to bearer and
coupons for the interest thereof shall
be attached to each of said bonds so
that the same may be removed there
from without mutilating the same,
and each of said bonds shall be signed
by the Mayor and attested by the
Town Clerk, and each of said coupons
shall bear a facsimile of the sigma
lures of the said Mayor and Town
Clerk as such signatures shall appear
on said bonds. Both principal and
interest on said bonds shall be made
payable in gold coin of the United
States of America of the present
standard of weight and fineness at