Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1865-03-22
AN ACT
To Provide for the Payment Of the
Outstanding Indebtedness Of the
Town of Gold Hill, storey county.

The People Of the State of Nepddd. represented in
Senate aud Assembly, do enact as Joilops;
SECTION |. For the purposes hereinafter men,
toned the Board Of Trustees of that incorporate
body known Hs 1.-THE Inhabitants of the Town OF
Gold Hill" are hereby empowered and author.
lied to levy and collect, during the year A. d.
Qs65) eighteen hundred and sixty-ive, upon all
the property within said town made taxable by
the laws Of the State of Nevada, O further and
additional tax than Is provided in the charter Of
said town, of fifty (5O) cents upon the one hun
dred dollars.
SEC. .. The time and manner of levying and
collecting said additional tax, shall be as provided
by ordinance of said Board.
SEC. 3. The revenue arising from said special
or additional tax shall be set aside rs q Redemp
ton Fund and the said Board of Trustees ore
hereby empowered and required 10 Set apart hfty
per cent Of, all other moneys now in, or hereafter
TO come into the treasury OF said town (until ali
the outstanding indebtedness OF said town shall
be paid, which fifty per cent snail become part
of said redemption fund, and shall be used eNclu-
Sively for the payment Of the outstanding indept'
edness Of said town in the manner hereinafter
provided. The remaining fifty per cent may be
set apart and used for the payment Of the current
expenses of said town.
SEC. l. No money shall be paid out of the said
redemption fund excep; by order of said Board OF
Trustees, and in the manner by them directed
And il shall be lawful for the said Board Of Trus.
tees from time TO time, whenever there shall be d
sufficient sum in said redemption fund, to give
notice by publication in some Newspaper in said
county Of Storey, that sealed proposals directed
to the President of said Board, will b. received
for the surrender of town warrants bonds or other
legal evidences of indebtedness of said town OF
corporate body known as 1.-THE Inhabitants oi
the Town of Gold HILL" and that such sealed pro
posals will be received until u day in said notice
stated. ...
SEC, S. After the expiration of the time named
. a of said RORrd of Trug
tees such sealed proposals shall be opened, ana
said Board shall accept the lowest bids for the
surrender of said warrants, bonds, or otner PBal
evidences of indebtedness, specified In the preee
ding section. No bid for more than par Salue
shall be 10 accepted. When any pias sIe aGeeP, .u
ed the Clerk of the Board shall take description
of the warrants bonds, other legal evidences OF
! indebtedness to be redeemed sPecityipg tne
amount 10 be paid for each of the same, the date
number and amount thereof ana MAKE Iecoru u
thereof in the journal Of said Board ana sucn
warrants bonds. or other Iegai eVideners Vi ~
.boII ba Cancelled by writing in red ink across the
So"a ot ,hs same the words purchased and Re-
sornsd +" adding the date of redemption and the
ann paid for the same and the SAID SUN Shali
hs Maid out Of the said redemption fund. The bids
speci6ed in this act being equal preferences shall
he given TO the smallest amount. That shall be
deemed the lowest bid which offers the lare est
amount of warrants, bonds, or other legal evi-
dences Of Indebtedness. in par value. for the
smallest amount of money. The bids and amounts
Of warrants, bonds, or other legal evidences Of
Indebtedness being equal taking into con'idera
tion both principal and interest, and such other
equities az NAV exist In the premises. each shall
be accepted, pro rata, as nearly as possible.
SEC. E. Alilegal claims or demands IS hatsoever,
such as bouds, warrants interest coupons, and
other legal evidences of indebtedness Of said cor
Dorate body, existing or outstanding at the time
Of the passage Of this act. may be epurchasable as
herein provided. from the redemption fund of said
w. .-r " Us. CRoSMAN,
RI - r.. President of the Senate.
,ss L. B. MOORE,
.aaEEH- Secretary ofthe Senate.
- r....... g. w. TOZER,
Speaker of the Assembly.
.r U. E. ALLEN,
l.