The Coconino sun., 1927-01-14
Thoman. Clerk.

read the notice and call for the meet
ing which said notice and call was
ordered inserted as part Of the min
utes of this meeting and is in words
and figures as follows, to-wit:
Flagstaff, Arizona.
To members of the Board of Super
visors of Coconino County, Arizona
You and each of you are hereby
notified that special meeting of the
board Of supervisors of Coconino
County, Arizona, has been and hereby
is called and ordered to be held at the
office Of said board in Flagstaff, Ari-
zona, on the 18th day of January A.
d. 1927, at the hour of 2:30 o'clock
P. M, for the purpose of considering
and adopting a resolution and order
providing for the issuance, advertise
ment and sale of funding bonds of the
county in the aggregate principal
sum of sits, 100000 to bear interest at
the rate of five per cent (5Ro) per
annum, payable semi-annually, for
the purpose Of raising funds with
which to fund and redeem outstanding
warrants of said County.
R. E. TAYLOR, Chairman.
JOS. j. WALDHAUS, Member.
JAMES KENNEDY, Member.
(SeaD Attest:
j. R. THOMAN, Clerk. ].
Thereupon Supervisor James Ken
nedy introduced and moved the adop-
tion of a certain resolution and order
which was read by the Clerk and
found to be in words and figures as
follows:
RESOLUTION
A RESOLUTION AND ORDER
PROVIDING FOR THE ISSUANCE,
ADVERTISEMENT AND SALE OF
FUNDING BONDS OF COCONINO
COUNTY, ARIZONA, IN THE PRIN-
CIPAL SUM OF $4,000 REPEAL
ING ALL ORDERS OF RESOLU-
TIONS IN CONFLICT HERETO
AND DECLARING AN EMER-
GENCY WHEREBY THIS RESO-
LUTON SHALL BECOME Eff
FECTIVE IMMEDIATELY UPON
ITS PASSAGE.
WHEREAS, as shown by the re-
port of floating Indebtedness, prepared
by the County Treasurer, as of jan
uary /, 1927, said County has out
standing, registered and unpaid its
legally issued warrants drawn on the
Expense fund of the County during
the period commencing with October
5, 1925, and ending with and includ-
ing warrant number 7, issued Jan. 13,
1927 said warrants amounting to the
principal sum of $170,069.52; and
WHEREAS, as shown by said re-
port said County also has outstanding,
registered and unpaid its legally is
sued warrants drawn on the Road
Fund of said County during the period
commencing with May 4, 1925 and
ending with and including warrant
number 1854, issued December 81,
1926, said Road fund warrants
amounting to the principal sum of
SO, ,737.75; and
WHEREAS, all of said warrants
amount to the total principal sum of
$180,807.27 and the accrued interest
on said warrants from their respect
i've dates of registration to January
Is, 1927, will amount to a sum in
excess of $180,807.27, making total,
principal and interest, in excess of
S175,0 900; and
WHEREAS, the said County has no
funds in its treasury available for
the payment of any of said warrants
or of any part thereof, and in order
to save interest the Board of Super
visors deems it advisable and to the
best interest of said County that the
Five per cent (5ss) funding bonds OF
said County be issued in the aggre-
gate principal sum of $175,000.00, for
the purpose of funding, redeeming
and paying said warrants, and
WHEREAS, the assessed valuation
of all the taxable property in said
County, as finally equalized for the
year 1926 which is the last completed
assessment roll of said County,
amounts to the sum of $20,262, ,659.00
and said County has total outstand-
ing bonded indebtedness in the sum
of S190,000.00 fer the payment of
which there is available in the vari-
Gus sinking funds S15,419.07, and
the total outstanding Indebtedness of
said County Of every kind and char
acter, at the time said warrants were
issued, including bonded Indebtedness
and the Indebtedness proposed to be
funded by said bonds, is and was, at
the time it was incurred, less than
four per cent az Of the taxable
property in said County as shown by
the assessment rolls for the years in
which said Indebtedness was in
CURED,
NOW THEREFORE,. BE IT RE-