Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1865-03-29
AN ACT
AN ACT .
TO Provide fer the Payment q she
OutstandInE Indebtedness Of the
Town Of Gold Hill, storey county.

The People of The State Of Nevada. Teprcsented In
Senate and Assembly, do enact ds JotIops:
SECTION l. For the purposes hereinafter men
toned the Board ofTrustees Of that incorporate
body known as THE Inhabitants Of the Town OF
Gold HILL" are hereby empowered and author
lied to levy and collect, during the year A. u.
le6D eighteen hundred and sixty-6ve, upon all
the property within said town made taxable by
the laws Of the State of Nevada a further and
additional tax than Ia provided In the charter Of
said town, of fifty (50) cents upon the one hun.
dred dollars. .-.. .U-.
SEC. . The time and manner Of leyying and
collecting said additional tax shall be as provided
by ordinance Of said Board .-. .... ~ annie.
SEc.3 The revenue arising from said special
or additional tax shall be ret aside as Redemp.
tion Fund, and the said Board VI Trustees are
hereby empowered and required 10 set apart htty
per cent. of all other moneys now In, or hereafter
to come into the treasury Of said town. (until all
the outstanding Indebtedness Of said town shall
be paid, which fifty per cent shall become part
of said redemption fund. and shall be used eXclu'
sively for the payment Of the outstanding indebt.
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 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 Il shall be lawful for the said Board Of Trus-
teeI from time 10 time, whenever there shall be
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 otner
legal evidences of Indebtedness of said town or
corporate body known as :" The lnhaotsntsoi
the Town OF Gold Hill" }" and that such sealed pro
posals will be received until day In said notice
stated.
SEC. ). After the expiration of the time named
in said notice, at meeting Of said Board OF Trus
IL. kali laA asA n ND
said Board shall accept the lowest bids for the
surrender of Eaid warrants, bonds, or other legal
eyidenceSo Of indebtedness, specified In the prece
ding section. No bid for more than par value
shall be 10 accepted. When any bids are accept.
ed, the Clerk of the Beetd shall take description
of the W warrauts bonds or other legal evidences Of
Indebtedness to be redeemed, specifying the
amount to be paid for each Of the same, the date,
number and amount thereof, and make record
thereof in the journal Of said Board and such
warrants bonds, or other legal evidences OF In
debtedness shall be ordered paid, and the same
shall be cancelled by writing In red ink across the
face of the same the words Purchased and Re-
deemed" adding the date Of redemption and the
sum paid for the same and the said sum shall
be paid cut Of the said redemption fund. The bids
specified In this act being equal, preference Inah
be given TO the smallest amount, That shall 6e
deemed the lowest bid which offers the largest
amount Of warrants, bonds, or other legal evil
dences Of Indebtedness, In par value, Tor the
smallest amount OF money. The bids and amounts
Of warrants bonds, or other legal evidences OF
indebtedness being equal, taking into conSdera.
tIon both principal and interest, and such other
equities as may exist in the premises. each shall
be accepted, pro rata, an nearly as possible.
SEC. g. Alllegal claims or demands whatsoever,
such as bonds, warrants, 10 terest coupons. and
other legal evidences of Indebtedness Of said Cor
porate body, existing or outstanding at the time
Of the passage ofthiS act. may be purchasable ~
herein provided. from the redemption fund Of said
J.S CRoSMAN,
E-.T- ...r President of the Senate.
L. B. MOORE,
Secretary Of the Senate.
G. w. T0ZER,
Speaker Of the Assembly
u @ ag u. E. ALLEN,
Clerk Of the Assembly.