Chapter 34. To enable the city of Tucson, Arizona, to issue bonds for the extension and repair of its water and sewer system, and for other purposes
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CHAP. 34.— An Act To enable the city of Tucson, Arizona, to issue bonds for the extension and repair of its water and sewer system, and for other purposes. February 21, 1908.[[[H. R. 14638.]](/us/bill/70/hr/14638)[[[Public, No. 30.]](/us/pl/70/30) *Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled*, That the city of Tucson,Tucson, Ariz., may issue bonds for municipal improvements. Pima County, Arizona, pursuant to an election held for that purpose on the fourteenth day of March, nineteen hundred and seven, in said city, is hereby authorized, through its mayor and board of common councilmen to issue bonds of said city to the amount of three hundredAmount. thousand dollars, the said bonds to be payable thirty years from the date of their issue and sale and to bear interest at the rate of not moreInterest. than four and one-half per centum per annum, payable semiannually.
Of the proceeds of the bonds so issued the sum of two hundred andUse of proceeds. sixty thousand dollars shall be applied to the extension and repair of the water and sewer system of said city, the sum of twenty-five thousand dollars to the equipment and improvement of the fire department; the balance of fifteen thousand dollars shall be applied to the erection of a city hall for the use of said city. Said bonds, when issued,Bonds. shall bear the date of their issue and the date of maturity and the rate per centum of interest, not exceeding four and one-half per centum per annum.
Each of said bonds shall have sixty semiannual interest coupons attached to and printed with the bonds, and each coupon shall 35 bear on its face the amount of interest due for six months on the bond and each shall bear a number corresponding with the number of the bond to which it is attached. The interest on said bonds shall be paidPayment of interest. semiannually, and as the interest is paid the coupon representing the same shall be detached from the bond and, after being marked paid, shall be filed by the treasurer of said city and preserved as vouchers.
Said bonds shall be issued under the seal of said city of Tucson, if it have a seal, and shall be signed by the mayor of said city and attested by the signature of the clerk of the common council. Sec. 2. That the mayor and common council of said city, after theTaxes. sale of said bonds, and in addition to all other city taxes, shall cause to be levied, assessed, and collected as other city taxes are levied, assessed, and collected each year a sum reasonably sufficient to meet the interest on said bonds and provide a sinking fund to meet the payment of said bonds at their maturity.
Approved, February 21, 1908.