The Coconino sun., 1922-12-15
ADVERTISEMENT
Ordinance No. 250

SAND DOLLARS ($60,000) PAR BONDS OF THE TOWN OF FLAG STAFF, COCONINO COUNTY, AR IONA, FIXING THE FORM O SAID BONDS, PROVIDING FO THE LEVY OF ANNUAL TAKE SUFFICIENT TO PAY THE PRIN CIPAL OF AND INTEREST UPO. 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 ORDINANC1 SHALL BECOME EFFECTIVE I'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 2nd day of October, A. 1922, majority of the qualified tax paying electors of said town votinj 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
 ($60,000) 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 60, inclusive, of the denom-
 ination of S1,00O each, dated No
 vember 1, 1922, bearing interest
 at the rate of six per centum per
 annum, payable 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 to A. 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 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 ponds, did accept the bid of Bankers Trust Company, Sidlo, Simons, Fels E Company and Benwell, Phillips & Company, and did award and sell said bonds in accordance with the erms of said bid.
 NOW, THEREFORE, BE IT OR DAMNED BY THE TOWN OF FLAG COCONINO COUNTY, ARI- IONA, AND THE MAYOR AND THE COMMON COUNCIL THERE )F, as follows:
 Section 1. That all things required ,y law to be done and performed and required to exist precedent md in order to authorize the Mayor md Town Council of the Town of Coconino County, Arizona, O issue, execute and deliver to the awful purchaser thereof, the bonds # said town hereinafter described, 'ave been done and performed and do xist in the manner and form requir- d by law.
 Section ?. That for the purpose of funds with which to pur- hase ground for 8 public park and improve and beautify the same in and or said town, there shall be prepared, xecuted, issued and delivered to the awful purchaser thereof the negoti- .ble coupon bonds of the said Town f Flagstaff, Coconino County, Ari- ona, in the aggregate principal sum f Sixty Thousand Dollars ($60,000), 0 be designated as Park Bonds" and o be comprised of sixty (60) bonds, consecutively from one to ixty, both numbers inclusive, of the denomination of $1,000 each, said