The Winslow mail., 1920-07-02
ORDINANCE NO. 81

ORDINANCE NO. 81
AN ORDINANCE PROVIDING FOR
THE ISSUANCE OF BONDS OF
THE TOWN OF WINSLOW IN AG-
GREGATE AMOUNT OF THIRTY
THOUSAND (3O,0OOOO) DOLLARS,
THE PROCEEDS THEREOF TO
BE USED FOR THE PURPOSE OF
ACQUIRING A GAS PLANT, IT'S
EQUIPMENT, DISTRIBUTING SYS-
TEN FOR SUPPLYING THE TOWN
AND IT'S INHABITANTS WITH
GAS FOR THE PURPOSE OF
LIGHT AND HEAT, AND THE
FRANCHISE IN CONNECTION
THEREWITH, BEING THE PRO-
PERTY OF THE WINSLOW GAS
LIGHT AND HEAT COMPANY, A
CORPORATION. SAID PLANT TO
BE OWNED AND CONTROLLED
BY SAID TOWN AND THE CALL
ING OF A SPECIAL ELECTION OF
THE PROPERTY TAXPAYERS
OF SAID TOWN OF WINSLOW,
WHO SHALL IN ALL OTHER RE-
SPECTS BE QUALIFIED ELEC-
TORS IN SAID TOWN FOR THE
PURPOSE OF DETERMINING
WHETHER SUCH INDEBTED
NESS SHALL BE AUTHORIZED.
BE 1T ORDAINED BY THE MAYOR
AND THE COMMON COUNCIL OF
THE TOWN OF WINSLOW.
Sect. 1. That the public interest
demands the purchase and aquisition
of the Gas Plant. it's equipment and
distributing system and franchise inI
connection Herewith, now owned by
the Winslow Gas, Light and Heat
Company, a corporation, to be owned
and controlled by the Town of Win
slow for the purpose of supplying said
Town with gas for the purpose oil
light and heat; that to provide the|
funds for the purchase and acquisition
of said plant it is necessary that an is
sue of bonds of the Town of Winslow|
in the aggregate sum of Thirty Thou
sand ($3O,OOO) Dollars be made with
assent of a majority of the property
taxpayers of said Town. who are in
all other respects qualified electors
of said Town as by law provided
Sect 2. That with the assent of the
said property taxpayers as hereinaf-
ter provided bonds of the Town of
Winslow shall be issued in the aggre-
gate sum of Thirty Thousand ($30000)
Dollars and the proceeds of the sale
thereof shall be used for the purpose
Of purchasing and acquiring said gas
plant to be owned and controlled by
the said fSwn to supply the said
Town with gas for the purpose of
light and heat, and to provide re-
serve fund for improvement and main
tenance of said plant; that said bonds
shall bear the date of their issuance
and be due and payable ten Q0l If
said bonds ten years after date. ten IF
said bonds shall be due and payable
fifteen years after date. and ten (10)
of said bonds shall be due and pay
able twenty years after date. They
shall be in denominations of one
thousand dollars each and shall bear
interest at the rate of six per cent per
annum. payable semi-annually on the
First days of July and January res
pectively of each year; Said bonds
shall be numbered consecutively from
one to thirty. inclusive, and shall be
signed and attested by the Mayor and
Town Clerk; said bonds shall be pay
able to bearer and coupons for the in
terest shall be attached to each of
said bonds so that the same may be
removed therefrom without mutilating
the bonds and each of said coupons
shall bears facsimile of the sigma
ture of the Mayor and the Town Clerk
as said signatures appear on said
bonds.
Sect. 8. That a special election is
hereby ordered to be held in said
Town of Winslow, State of Arizona,
On the oath day of July, 1920. for the
purpose of submitting to the property
taxpayers of said Town who shall be
in all other respects be qualified cleo
tors in and for said Town. the ques-
tion whether the Indebtedness of said
Town shall be incurred by the is
suance of said bonds in the sum of
Thirty Thousand ($3O,OOO) Dollars.
which said sum is not in excess of
four per cent of taxable property in
said Town, the proceeds thereof to be
used as aforesaid for the purpose of
purchasing and acquiring of the Gas