Chapter 6. To enable the city of Phoenix, the town of Tempe, and the town of Mesa, all in Maricopa County, Arizona Territory, severally to issue the bonds of said municipalities for the purpose of aiding in the construction of a freighting and wagon road from any convenient point in the Salt River Valley to th
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CHAP. 6.— An Act To enable the city of Phoenix, the town of Tempe, and the town of Mesa, all in Maricopa County, Arizona Territory, severally to issue the bonds of said municipalities for the purpose of aiding in the construction of a freighting and wagon road from any convenient point in the Salt River Valley to the Salt River reservoir dam site in Maricopa County, Arizona. January 21, 1904. [[H. R. 7273](/us/bill/58/hr/7273).] [[Public, No. 6](/us/pl/58/6).] *Be it enacted by the Senate and House of Representatives of the United States in Congress assembled*, Arizona.
Wagon road in Maricopa County. Municipal bond issue for, authorized. That the city of Phoenix, the town of Tempe, and the town of Mesa, nil situated in Maricopa County, in the Territory of Arizona, are hereby severally authorized and7 empowered to issue their several bonds in any sum not exceeding two per centum of the assessed valuation of the real and personal property taxable for municipal purposes by said municipalities, respectively, as the same appears upon the last assessment roll of said municipalities, respectively, for the const ruction of a freighting and wagon road from any convenient point in the Salt River Valley in Maricopa County, Territory of Arizona, to what is known as the Salt River reservoir dam site in said Maricopa Comity, Arizona.
Sec. 2. That before the bonds of either said city or said towns shallSpecial election required. be issued a special election shall be ordered by the common council of said city or of said towns, or either of them, proposing to issue the bonds, at which election the question whether such bonds shall issue shall be submitted to the qualified electors of said city or of said town or towns whose names appear upon the last assessment roll of said city or said town or towns as assessed for municipal taxation.
ThirtyNotice. days notice of any such election shall be given by publication thereof in a newspaper printed and published and of general circulation in said city or town in which such election is proposed to be held for said period of thirty days before the day fixed for such election. Sec. 3. That the registration for such elections, the manner of conductingRegistration, etc. the same, and the canvassing of the returns of said election shall be as nearly as practicable in accordance with the requirements of law in general or special elections in each of said municipalities, respectively, and said bonds shall be issued only upon condition that two-thirds of the votes vast at such election in said city or town shall be favor of issuing said bonds.
Sec. 4. That the bonds above specified, when authorized to be issuedInterest on bonds. as herein before provided, shall bear interest at not exceeding five per centum per annum, payable semiannually, and shall not be sold for less than their par value, with accrued interest, and shall be in denominationsDenominations. of five hundred dollars each, and shall be payable in New York City or Phoenix. Arizona, at the option of the holder, in not less than fifteen years nor more than twenty years from date.
Sec. 5. That no part of the funds arising from the sale of said bondsUse of funds. shall be used for any purpose other than that specified in this Act. Sec. 6. That said bonds shall be sold only in such amounts as theSale of bonds. governing body of the municipality issuing the same shall direct, and the proceeds thereof, when expended, shall be disbursed under theDisbursements. order and direction of such governing body, from time to time, as the same may be required for the purposes aforesaid.
Approved, January 21, 1904.