The Winslow mail., 1925-03-13

! OF THE TOWN OF WINSLOW,
NAVAJO COUNTY, ARIZONA, THE
QUESTION OF AUTHORIZING
MAYOR AND COUNCIL TO ISSUE
SAID BONDS TO BE SUBMITTED
AT A SPECIAL BOND ELECTION
TO BE HELD IN AND FOR SAID
TOWN THE 18TH DAY OF
MARCH, A. D. 1925.
WHEREAS, the Mayor and Coun-
Gil have called a special election
of the qualified tax paying electors
of the Town of Winslow, Arizona,
to be held the 18th day of March,
A. D. 1925, for the purpose of sub
hitting to said electors the question
of issuing the Municipal Coupon
Bonds of said town in the total
principal sum of $50,OO0O0 for the
purpose of providing funds with
which to extend and improve the
gas works and system now owned
and operated by said town, and
WHEREAS, it is necessary for
the preservation of the public
peace, health and safety that said
bonds be issued and funds be avail
able for the extension and improve
ment of said gas works and system
at the earliest possible time.
NOW, THEREFORE,, BE 1T RE-
SOLVED AND ORDERED BY THE
COMMON COUNCIL OF THE
TOWN OF WINSLOW, NAVAJO
COUNTY, ARIZONA, as follows:
:, 1. That anticipating favorable
vote at the election referred to in
the preamble hereof and for the
purpose of providing funds with
which to extend and improve the
gas works and system of said town,
there shall be advertised for sale
and sold in manner provided by
law, the negotiable coupon bonds
of said town in the aggregate prin-
cipal amount of $5O,000.00 compris-
ed of so bonds, numbered from /
to so, inclusive, of the denomina-
ton of $1,000 each; dated April
LIST, 1925, bearing interest at the
rate of five and one-half per cen
tum per annum, payable semi-an-
nually, the list days of April and
October of each year and maturing
serially in numerical order as fol-
lows: 100000 on April LIST in
each of the years 1910 to 1854, both
years inclusive, and 100000 on
April 1st, 1866, both principal of
and interest upon said bonds be-
ing payable in gold coin of the
United States of America at the
Chase National Bank in the City
and State of New York.
2. That sealed proposals will
be received by said council for the
purchase of said bonds on Monday,
the 23rd day of March, A D. 1925.
at the hour of 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 adviS-
able, the council reserving 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 a price less than the par
value thereof, with all accrued in
terest thereon to the date of their
delivery, will be considered, and all
bids for the purchase of said bonds
must be unconditional and accom-
panied by a certified check drawn
on 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 forfeited in the
event the bidder does not take up
j, and pay for said bonds when tend
cred to said bidder by said town.
3. That a copy of this order
shall be published for five con-
secutive weeks in the Winslow
Mail, Immediately preceding the
date set for the said sale, and the
town clerk is hereby charged with
the duty of effectuating this pro-
vision.
4. That this resolution and order
shall be entered upon the records
of the council and inasmuch as it
is necessary for the immediate pre-
servation of the public peace, health
and safety that the bonds mention
ed herein be sold as soon as pos
sible, an emergency is hereby de-
clared to exist and this resolution
and order shall be in full force and
effect Immediately upon it's passage
and approval.
Approved:
FRED B. DOUGLAS,
(SEAL) Mayor.
Attest:
c. L. MURPHY,
i Town Clerk