Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1865-03-17
NEW TO-DAY.
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 Neradd, represented in
Senate aud Assembly, do enact as toslopS:
SECTION |. For the purposes hereinafter NEIL
toned the Board of Trustees of that incorporate
body known 1s THE Inhabitants of the Town Of
Gold Hill," are hereby empowered and author
lied to levy and collect during the year A. d.
1859 eighteen hundred and Sixty-hYc, upon all
the property within said town made taxable by
the laws of the State of Nevada. further and
additional tax than is provided in the charter Of
said town, of fifty (5U) cents upon the one hun
bred dollars.
SEC. .. The time aud manner of levying and
collecting said additional tax shall be rs provided
by ordinance of said Board.
SEC, g. The revenue arising from said special
or additional tax shall be set aside as Redemp'
ton Fund, and the said Board of Trustees are
hereby empowered and required 10 set apart fifty
per cent OF all other moneys now in, or hereafter
to come into the treasury of said town (until all
tho outstanding Indebtedness OF said town shall
be PAID which fifty per cent. shall become part
of said redemption fund, and shall be used exciu'
Sively for the payment of the outstanding indebt'
edness of said town in the manner hereinafter
provided The remaining fifty per cent may be
bet 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-
tees from time to time. whenever there shall be a
sufficient sum in said redemption fund, 10 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 flown warrants, bonds or other
legal evidences of Indebtedness of said town or
corporate body known as 1.-The Inhabitants of
the Town of Gold HILL" and that such sealed pro
posals will be received until day in said notice
stated.
, SEC. s. After the expiration Of the time named
in said notice, at q meeting of said Board OF Irus
tees. such scaled proposals shall be opened, and
said Board shall accept the lowest bids for the
surrender of said warrants, bonds, or other legul
evidences OF. Indebtedness, specified In the precc
ding sectien. NJ bid for more than par value
shall be 80 accepted. When any bids are accept
ed the Clerk of tho Board shall take description
of the warrants bonds or other legal evidences of
indebtedness to be redeemed, specifying the
am lunt 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
d.btsduess shall be ordered paid, and the same
shall be cancelled by writing in red ink across the
fnce of the same the words Purchased and Re.
deemed" adding the date of redemption and the
,un paid for the same; and the said sum shall
be paid out of the said redemption fund. The bids
specited in this act being equal, preferences shall
be given to the smallest amount That shall be
amount of warrants, bonds, or other legal evil
d.nces of indebtedness, in par value, for the
smallest amount of money. The bids aud amounts
Of warrants, bonds, or other legal evidences OF
indebtedness being equal, taking into considera.
ton both principal and interest, and such other
equities as may exist in the premises. each shall
be accepted pro rata, az nearly as possible.
SEC. g. All legal claims or demands whatsoever,
such rs bonds, warrants, interest coupons, aud
other legal evidences of indebtedness Of said cor
porate body, existing or outstanding at the time
Of the passage Of this act, may BIZ purchusable az
herein provided, from the redemption fund Of said
town
Us CROSMAS,
.. President of the Senate.
L. B. MOORE,
Secretary of the Senate
G. VI. TOZER,
Speaker of the Assembly.
u. E. ALLEN,
CLARK nf the Assembly