Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1865-03-21
AN ACT
The People of the State Of Nsrada. reprssemted in
Ssnate and AsIeM6LY do enaet az follows:

The People of the State of Nerdda. represented in
Ssnats and AsSembly, do enact az totIOus:
SECTION |. For the purposps hereinafter men
tionrd, the Board Of Trustees If thar incorporats
body known Us THE Inhabitants of the Town Ot
Gold HILL" are hereby empowered and author
lied to levy and collect, during the year A. d.
1859 eighteen hundred and sixty-hre. upon all
the property within said town made taxable By
the laws OF the State OF Nevada, further and
additional tax than Ia provided in the charter OF
said town, of fifty t5O) cents upon the one hun
dred dolIars
SEC 9. The time and manner Of levying and
collecting said additional lax, shall be aS provided
by ordinance Of sain Board.
SEC, g. The revenue arising from said special
or additional tax shall be ret aside rs Redelnp
ton Fund, aud the said Board nf trustees are
hereby empowered and required 10 Set apart NIFTY
per cent of all other moneys now iu, or hereatt'
TO come into the treasury Of said town luntli all
the outstanding indebtedness Of said town shal
be paid) which nifty per cent shall become part
of said redemption fund. and shall be Used "xclu
sively Tor the payment OF the outstanding inueot
eGness of sai,I town In the m1nner hereinafter
provided. The remaining nifty per cent may be
net apart and used for tbr payment OF the current
expenses of said town.
.EC 4. No money shall be paid out Of the said
redemption fund except by order of said Board of
Trustees, and In the manner by Them directed
And II shull be lawful for the said Board Of Trus
tees from time TO time, when vrr th+re shall be u
sufficient sum In said redemption fund, to give
notice by publication In Some newspaper in SAID
county of Storey. that sealed proposals directed
10 the President Of said Board will receiv' d.
for the surrender of town warrants bonds or other
legal evidences Of indebtedness OF said town or
corporate body known AS "The Inhabitants Of
the Town of Gold Hill, !" and thar such sealed pro
posals will be received until day in said notice
! I stated. =,
SEC. S. After the expiration Of the tirns named
in sad notice, at q meeting Of said Board OF trus
tees such sealed proposals shall be opened, ana
said Board shall accept the lowest bids for the
surrender Of said warrants, bonds, or other legal
evidencps of indebtedness, specified In the prece
ding sectisn. NJ bid for more than par Vaiue
shall be 80 accepted. When any bids ar accept
ed, the Clerk of the Board shall take Description
of IN. warrants bonds, or other gal evidences OF
| ind.btednesu TO be redeemed, specifying the
an,nnt 10 he paid for each of the same, the date
| numhpr and amount thereof aud make record
| m rsof In the journal Of said Board ana snen
warrants, bonds. or other legal evidences OF in'
debtedness shall be ordered palo ana tne sa',ie
.halI be Cancelled by writing II red ink across tue
| Sac. of the same the words Purchased and Re-
| dreme,,," adding the date Of redemption anil the
| ,um paid for the Eame aud the said sum Snail
be paid out Of the said redemption fund The bids
specified In this act being equal, preference snnii
| b, given to the smallest amount hat SNAIL Ut
deemed the lowest bid which Offers the larE est
drnces of indebtedness. IN par value, for the
smallest amount of money. The bids aud amounts
Of warrant bonds or other legal evidences VI
indebtedness being equal, taking Into considera'
tion both principal and interest, and such other
,uuites MS may exist in the premises. each shall
| Le accepted pro rata, az nearly as possible.
SEC. g. Ali legal claims or rdtmandswhatsoever
| such a. bonds, warrants, interest coup0n1, and
other legal evidences of Indebtedness OF said Cor
Dorat. body, existing or outstanding at the time
of the passage Of this act, may be purcha able al
herein provided from the redemption fund Of said
| town. ..-f, as. #. ..s r.--