The Winslow mail., 1922-10-20

ELECTION HELD ON THE SEC
OND DAY OF SEPTEMBER, 1922,
AND PROVIDING FOR THE SALE
OF SAID BONDS.
WHEREAS, Under Ordinance No.
ITO, the issuance of bonds of the
Town of Winslow, State of Arizona,
in the aggregate amount of 100000,
the proceeds thereof to be used for
the purpose of extending gas mains
and overhauling and improving the
City Gas Plant, it's equipment and dis
tributing system for supplying the
the purpose of light and heat, a spe-
cial election of the property tax-pay-
ers of the said Town of Winslow,
who, in all other respects are quail
fled electors of the said Town of
Winslow, was held ON the second day
Of September, 1922, 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 ma
jority of said property taxpayers
voted in favor of the creation of said
Indebtedness by the issuance of said
bonds as fully appears by the certifi-
cate duly made by the members of
said Common Council of the said
Town of Winslow on the 18th day of
September, 1922. and which certifi-
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 said Common coun-
ell of the said Town of Winslow to
proceed to carry out the object of
said election
NOW, THEREFORE,,
BE 1T ORDAINED BY THE COM
MON COUNCIL OF THE TOWN OF
WINSLOW, AS FOLLOWS:
Section 1. That the Town Clerk of
the Town of Winslow is hereby di-
rected to have prepared bonds of the
Town of Winslow, State of Arizona,
in the aggregate sum of $12,0OO.OO of
the denomination of $1,000.00 each, to
be numbered consecutively from / to
IL inclusive, to bear the date of the
issuance thereof, which shall be the
date of November /. 1922. when the
same shall be executed by the Mayor
and Town Clerk: said bonds shall
hno iv,<o x,% 1H4 r,S~
cent? 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: Four (4) of said
bonds shall be due and payable ten
(10) years after the date of issuance;
four (4)' of said bonds shall be due
and payable fifteen (15) years after
the date of issuance, and four (4) of
said bonds shall be due and payable
twenty (2O) 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 therefrom without mutilat-
ing the same, and each of said bonds
shall be signed by the Mayor and at
tested by the Town Clerk, and each
of said coupons shall bear a facsimile
of the signature of the said Mayor
and Town Clerk as such signatures
shall appear on each of 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 the office of the Town
Treasurer Of the Town of Winslow,
Navajo County, State of Arizona, or at
such place as may be agreed upon by
the Mayor of said Town of Winslow
and the purchaser or purchasers of
said bonds; the place of payment
thereof, if so agreed upon, to be
mentioned in said bonds
The form of said bond shall be sub
stantially as follows:
GAS BOND OF THE TOWN OF
WINSLOW, ARIZONA.
81 100000. No. -
The Town of Winslow, State of Ari-
zona, for value received, promises to
pay to bearer the sum of One Thou
sand ($1000.00) Dollars in gold coin
of the United States of America of
the present standard of weight and
fineness on the day
with interest thereon at the rate of six
(6 per cent) per cent per annum.
payable semi-annually on the first
days OF January and July respec-