The Coolidge examiner., 1937-05-27

performance or said duty TO TINS
Board Of School Trustees.
The above Resolution was second
ed by c. o. Patr, and was adopted
with the following voting "aye
H. H. McCowen, Beatrice NJ MOI
gan, and the following voting may,
none.
The President thereurun declar
ed said Resolution carried.
It was moved and seconded that
the meeting adjourn. The motion
carried.
(Signed) BEATRICE NJ. MORGAN
Clerk.
After discussion the Resolution
as presented. the following Resolu-
ton was offered by James Heron
Jr. and read in full.
RESOLUTION AND ORDER
PROVIDING FOR THE ISSUANCE
OF REFUNDING BONDS OF
SCHOOL DISTRICT NO. 4. PTNAL
COUNTY, ARIZONA, IN THE
PRINCIPAL SUM OF $27,500.00,
TO BE SOLD, AND THE PRO
CEEDS THEREOF TO BE USED
IN THE PAYMENT OF $27,5OO.OO
OUTSTANDING S PER CENT OF
THE ABOVE NAMED SCHOOL
DISTRICT, DATED JULY /, 1926,
DUE JULY 1, 1916, OPTIONAL
JULY /, 1886; REPEATING ALL
ORDERS AND RESOLUTIONS IN
CONFLICT HEREWITH AND DE-
CLARING AN EMERGENCY
WHEREBY THIS RESOLUTION
SHALL BECOME EFFECTIVE I'M
MEDIATELY UPON ITS PASS
AGE.
WHEREAS, School District No.
4, Pinal County, Arizona, has here
tofore issued its negotiable inter
est bearing bonds described as fol-
lows:
$35,0O0.O0 School District No. 4,
Pinal County. Arizona. S per cent
bonds, dated July 1, 1926, due in 20
years, optional ten years after date,
of which $27.500.00 are still out
standing and unpaid. and,
WHEREAS. all Of said outstand-
ing bonds were duly and lawfully
issued and sold, and at all times
have been and are now the legal
and valid obligation of School Dis
trict No. 4, Pinal County, Arizona,
the full faith and credit Of the
School District being pledged for
the prompt payment OF said bonds,
both principal and interest. and,
! WHEREAS, a considerable saw
ing in interest can be placed into
effect by refunding the above de-
scribed bonds, and.
WHEREAS, the said Board OF
Supervisors has determined the is,
suance of said refunding bonds is
necessary, expedieut and advisable
and,
WHEREAS, pursuant to and by
authority of Sections .2663 to 2671
of the Revised Code of Arizona,
1928, and amendments thereto
which enable the several counties,
school district, and municipalities
to refund their bonded indebtedness
and empowers the Board of Super
visors of Pinal County, Arizona, to
issue refunding bonds on behalf OF
said School District No. 4, of Pinal
County, Arizona.
NOW, THEREFORE, BE 1T RE-
SOLVED AND ORDERED BY THE
BOARL OF SUPERVISORS OF
SUPERVISORS OF PINAL COUN
TY, ARIZONA: i
! Section /. That for the purpose
Of refunding, paying. and redeem
ing the outstanding bonded indebt
edness of said School District No. 4
Pinal County, Arizona, there should
be executed and issued bonds OF
said School District to be designat
ed "Refunding Bonds" in the aggre
gate principal amount of Twenty
Seven Thousand Five Hundred
($27, ,500.00) Dollars, to consist OF
twenty-five bonds, numbered / to
% inclusive of he denomination OF
one thousand (s1,000.0O) Dollars
each, and Eleven bonds (1D of the
denomination OF Five Hundred
($500.00) Dollars each, numbered
D 1 to D II, inclusive. The said
bonds shall be dated July /, 1887
shall bear interest at the rate OF
Ia per centum per annum payable
semi-annually on the 1st day of July
and January. respectively in each
year thereafter, and shall become
due and payable as follows:
Bond Nos. Due Dates Amt
l to inc. July l, 1898 ....$2.000.0 90
l D July /, 1938................- 10000
to 4 inc. July l, 1939..... 100000
D July /, 1939...................,--. 10000
s to 6 inc. July l, 1910. 100000
D July l, .1S40.......... 10000
Z to inc. July 1, 1941....... 100000
D July /, 1941............... 10000
8 to 10 inc July 1, 1912 ..... 2,000.U0
D July 1, 1942.-.....-.-....~ 10000
II to IL inc. July 1, 1943..,. 100000
6 D July /, 1943................ 10000
13 to IA inc. July /, 1914. 1000. 90