The Coconino sun., 1922-11-17
RESOLUTION NO. 143

RESOLUTION NO. 143
 AN ORDER PROVIDING FOR THE
 ADVERTISEMENT AND SALE
 OF $6O,OOO PARK BONDS OF
 THE TOWN OF FLAGSTAFF,
 COCONINO COUNTY, ARIZONA,
 AUTHORIZED TO BE ISSUED
 AT A SPECIAL BOND ELECTION
 HELD IN AND FOR SAID TOWN
 THE END DAY OF OCTOBER, A.
 D., 1922.
 WHEREAS, at a special election in and for the Town of Flagstaff, Co., conino County, Arizona, the 2nd day of October, A. D. 1922, a majority of the property taxpayers who were In all other respects qualified electors of said town and were present and vot- ing at said election, voted in favor of borrowing money and issuing bonds of said Town in the aggregate principal sum of Sixty Thousand Dol lars ($60,000), thereby mourning 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 pur- chase ground for a public park and improve and beautify the same in and for said town and by said election, the common council of said town was au- thorized to issue said bonds to the amount and in the form provided in the question submitted at said elec- tion and in the ordinance ealing the same.
 NOW, THEREFORE, BE IT RE- SOLVED AND ORDERED BY THE COMMON COUNCIL OF THE TOWN OF FLAGSTAFF, COCO NINO COUNTY, ARIZONA, AS FOLLOWS:
 1. That for the purpose of provid- ing funds with which to purchase ground for a public park and improve and beautify the same in and for the Town of Flagstaff, Arizona, there shall be advertised for sale and sold in manner provided by law, the ne- gotiable coupon bonds of said Town n the aggregate principal amount of $60000, comprised of sixty bonds, numbered from one to sixty, inclusive, of the denomination of $1,000 each; :; dated November l, 1922, being abso- lutely due and payable serially $5,000 on the 1st day of November in each of the years A. D. 1888 to A. D. 1949, both years inclusive, bearing interest from their date until paid at the rate of six per centum per annum, payable sami-annually, the first days of No- vember and May, respectively in each year, both principal of and interest upon said bonds being payable in law ful money of the United States of America at the Mechanics and Metals National Bank in the City and State uf New York
 ?. That sealed proposals will be received by said council for the pur- chase of said bonds on Wednesday, the 9th day of December. A. D. 1922, at the hour of 8 o'clock P. M., at the council chambers in the Town Hall of said town, at which time and place the council will meet for the purpose of considering all bids received for the purchase of said bonds and of taking such action thereon as may be deemed advisable, the council reserv- ing the right to reject any and all bids received, and sell said bonds at private sale. No bid for the purchase of said bonds at price less than the par value thereof, with all accrued in terest thereon to the date of their de- livery, will be considered, and all bids fo, the purchase of said bonds must be unconditional and accompanied by a certified check drawn on a national bank in an amount equal to five per cent of the total amount of such bid; the said check to be payable to the town treasurer of said town and the check of the successful bidder shall be retained by the council and for feited iG the event the bidder does not take up and pay for said bonds on the date of sale. The approving opm- ion of Messrs. Wood and Oakley of Chicago, Illinois, will be furnished to the successful bidder.
 8. That a copy of this order shall