Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1865-02-11
sroREY COUNTY ENDRBFIRpNRss:.

SIOAnA OOOPtRA 1SNUn01HDNESSs
AN ACT - provide for tho paymo.,
Of the outstandinH Warrants Of
storey County.
The People of the State of Nevada, repre-
ser1ted i" Senate and assembly, do enact
as folotcs:
SECTION I. From and after the passage
of this Act, it shall not be lawful for the
Treasurer Of Storey county to pay any
warrants drawn on the Treasurer of said
county prior to the passage of this Act,
except in the manner hereinafter provided.
SEC. 2. The Board of County Commits
sioners Of Storey county are hereby au-
thorized and directed, from and after the
passage of this Act, to create in the Coun-
ty Treasury of said county Fund, to be
known as the Redemption Fund" of
said county. Immediately after the pas
sage of this Act they shall cause forty per
cent. GO per cent? Of all county revenues
paid into the Treasury Of said county for
the fiscal year 1865, and each and every
year thereafter, until the present debt Of
said county, together with the interest ac-
cruing thereon is iquidated, to be placed
in said Redemption Fund as soon as paid
into said Treasury, and the County Trea-
surer Of said county is hereby expressly
prohibited from paying out any portion of
said forty per cent. of said revenues, ex-
cept as hereinafter provided.
SEC. 8. Whenever at any time there
shall be in said Redemption Fund, the
sum of twenty-five hundred dollars or
more, it shall be the duty Of the County
Treasurer Of said county to give fifteen
days notice by publication in some news
paper published at the county seat of said
county, that sealed proposals directed to
him, will he received for the surrender of
county warrants issued prior to the pas
sage of this Act; and that said proposals
viii be received by him until the first
Saturday following the expiration OF said
fifteen days notice.
SEC. 4. On the first Saturday following
the expiration of said fifteen days notice,
the Board of County Commissioners shall,
together with the County Auditor and
Treasurer, attend at the Office of the latter,
and then and there open all sealed propo-
sails, and accept the lowest bid for the
surrender Of county warrants specified in
the previous section, provided that no bid
for more than par value shall be accepted
bp them, nor any bid unless accompanied
by warrant or warrants proposed to be
surrendered.
SEC. S. When any bids are accepted,
the County Auditor and County Trea-
surer shall each take description Of the
warrants to be redeemed, specifying the
amount to be paid for each warrant, the
date, number and amount thereof, and
make a record thereof in their respective
Offices; and thereupon the Board of
County Commissioners shall, by order,
direct the County Treasurer to purchase
tie warrants designated in the accepted
bid or bids, and pay the same out Of the
Redemption Fund aforesaid, and all way
rants so redeemed shall be Cancelled by
the County Treasurer by writing across
the face thereof in red ink, the words
purchased and redeemed" adding there
unto the time when, and the amount paid
therefor, and signing the same officially.
The order of the Board of County Com
missioners aforesaid, together with the
record made by the County Auditor as
herein required, shall be sufficient vouch-
ers for the County Treasurer in the settle
ment of his account. The bids specified
IN this Act being equal, preference shall
be given to the smallest amount. That
shall be deemed the lowest bid that shall
offer the largest amount of warrants in
par value for the least sum Of money; the
bids and amounts of warrants being equal,
taking into consideration both principal
and interest, each shall be accepted, pro
rata, as near as possible. The County
Treasurer shall return all unaccepted bids,
together with the warrants therein con-
tanned, to the owners, on demand. The
The County Treasurer shall keep sepa-
rate account, under the heading of Re
demption Fund, of all warrants received
in the said fund, and all moneys paid out
of said fund, and to whom paid. He
shall also, on the register of county war
rant, kept by him, write opposite each
warrant redeemed under the provisions of
this Act, the word "pTchased;" and shall
state the amount paid therefor.
SEC. 6. All outstanding warrants of
said county are hereby divided into two
classes. All warrants issued prior to
August l, 1864. shall be deemed the first
class, and all issued subsequent to that
date shall be deemed the second class. In
the consideration of any bid or bids made
in pursuance of the provisions OF this Act
the County Commissioners shall give
preference of thirty-fve per cent. to war
rants of the first class, over and above
those of the second-class.
Sec. 7. No county warrant shall be
purchased or redeemed under the provis-
ions Of this Act unless the same shall have
been issued according to law, and it is
hereby made the duty of the Commission
ers to pass upon the legality Of the. same
unanimous decision Of the Board shall
be required as to such legality before the
same shall be purchased or redeemed.
SEC. 8. The County Commissioners
shall in no case issue any warrants, or in
any manner contract Indebtedness unless
there Is money in the treasury to pay the
same.
SEC. 9. All Acts and parts Of Acts here
tofore passed, as far as the same conflict
with or are repugnant to the provisions of
this Act, are hereby repealed.
No DRAFr.-Some mischief breeders of
thoroughly established character have been
industriously circulating the report that