The Coconino sun., 1922-12-22

CIPAL OF AND INTEREST UPOl SAID BONDS AS THE SAME RE ! SPECTIVELY MATURE, CONFIRM ING THE SALE OF SAID BONDS APPEALING ALL ORDINANCE OR RESOLUTIONS IN CONFLIC' WITH THE PROVISIONS HEREO. AND DECLARING AN EMERGEN CY WHEREBY THIS ORDINANCE SHALL BECOME EFFECTIVE M MEDIATELY UPON ITS PASSAGE AND APPROVAL.
 WHEREAS, at a special electio held in and for the Town of Flagstaff Coconino County, Arizona, on Mon day, the End day of October, A. [ 1922, a majority of the qualified tax paying electors of said town votin, at said election voted in favor of tn question submitted thereat, to-wit:
 Quesion:
 "Shall the Town Town of Flag
 staff, Coconino County, Arizona,
 be authorized to borrow money
 and issue coupon bonds of said
 town in the aggregate principal
 sum of Sixty Thousand Dollars
 ($60,O00) and thereby incur an
 indebtedness in excess of four
 per centum of the value of the
 taxable property in said town for
 the purpose of providing funds
 with which to purchase ground
 for a public park and improve
 and beautify the same in and for
 said town. The said bonds to be
 sixty in number, numbered from
 1 to GO, inclusive, of the denom-
 ination of $1,oQf peach, dated No
 vember l. 1922, bearing interest
 at the rate k 1six per centum per
 annum, pa.able semi-annually,
 the first days of November and
 May of each year, and maturing
 serially $5,000, on the 1st day of
 November in each of the years A.
 D. 1888 tosA. D. 1949, both years
 inclusive?"
 and
 WHEREAS, said election was call ed, conducted, held and the results thereof canvassed in all respects as provided by law and pursuant to the authority conferred by said election, the town council of said town did make and enter an order providing for the advertisement and sale of the bonds authorized to be issued at said election and did cause copy of said order to be published in the manner provided by law, and
 WHEREAS, the Town Council did meet at the time and place stated in said order and after considering all bids received for the purchase of said bonds, did accept the bid of Bankers Trust Company, Sidlo, Simons, Fels & Company and Benwell, Phillips & Company, and did award and sell said bonds in accordance with the terms of said bid.
 NOW, THEREFORE, BE IT OR DAMNED BY THE TOWN OF FLAG COCONINO COUNTY, ARI- AND THE MAYOR AND THE COMMON COUNCIL THERE OF, as fellows:
 Section 1. That all things required by law to be done and performed and conditions required to exist precedent and in order to authorize the Mayor and Town Council of the Town of Coconino County, Arizona, to issue, execute and deliver to the lawful purchaser thereof, the bonds of said town hereinafter described, have been done and performed and do exist in the manner and form requir- ed by law.
 Section 2. That for the purpose of funds with which to pur- chase ground for public park and improve and beautify the same in and for said town, there shall be prepared, executed, issued and delivered to the lawful purchaser thereof the negoti- able coupon bonds of the said Town of Flagstaff, Coconino County, Ari- zona, in the aggregate principal sum of Sixty Thousand Dollars ($60,000), to be designated as Park Bonds" and to be comprised of sixty (60) bonds, consecutively from one to sixty, both numbers inclusive, of the denomination of $1,000 each, said bonds shall Ee dated the 1st day of November, A. D. 1922; shall be abso- lutely due and payable serially in nu- merical order, five of said bonds in the aggregate amount of $5,000 on the 1st day of November in each of the years 1888 to 1949, both years in- they shall bear interest from