Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1865-03-20
NJ ACT
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 Nevada, represented in
Senate aud assembly, do enact as foaOrs:
SECTION l. For the purposes hereinafter men
toned, the Board of Trustees of thar Incorporate
body known as THE Inhabitants of the Town OF
Gold Hill" are hereby empowered and author
ized to levy and collect, during the year A. D.
1850 eighteen hundred and sixty-tive, upon all
the property within SAID town maze taxable by
the laws OF the State OF Nevada, i further and
additioual tax than Is provided In ine 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 sail Board
SEC. 3. The revenue arising from said special
or additional tax shall be ret aside IA Redeinp
ton Fund, and the said Board Of Trustees are
hereby empowered aud required TO set apart hity
per cent of all other moneys now in, or hereatt,
10 come into the treasury OF said town (until all
the outstanding Indebtedness OF SAID town shall
be- paid, which 1fty Per cent. shall become part
of said redemption fund. and shall De- used "xclu.
sively Tor the payment Of the outstanding indeot
edness of said town In the manner hereinafter
provided. The remaining hIty per cent. may lie
Aet apart and used tor the payment ot the current
expenses OF said town.
&c 4, No money shall be paid ont Of the said
redemption fund except BY order of said Board OF
Trustees, and In the manner by them directed
Aud il shall be lawful for the said Board OF lrus'
tees from time 10 time, whrn yer th re shall be
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 receive d,
for the surrender OF town warrants bonds or other
legal evidences Of indebtedness OF said town or
corporate body known az The Inhabitants OF
the Town of Gold HilI," and thar 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 lrus
tees, such sealed proposals shall be opened, ann
said Board shall accept the lowest bids LOT the
surrender of said warrants, bonds, or other legal
evidences Of Indebtedness, specified In the prece
ding sectien. NJ bid for more than par NaIue
shall BIZ 10 accepted. When any bids ar' accept
ed the Clerk of the Board shall take description
of the warrants. bonds or other gu evlurnees OF
indebtedness to be redeemed, specifying the
am uut 10 be paid for each OF the saine the date,
unnh,r and amount thereof and make Il record
m reof in the iuurnAl of said Board aud such
warrants. bonds, or other legal evidences Oi in'
d,bt.duess shall be ordered paid, ana tue salne
shall be canceledb BY writing H. red INK across !he
face of the same the words Purchased aul he-
ireme j." adding the date of redemption ami the
ann paiI for the same aud the said sum shall
be paid gu: # the said redemption fund. The bids
-pecitied In this uct being equal preference Sna
bp given to the smallest amount Inut sha'I oe
deemed the lowest hid which offers the iHrses'
amount of warrants, bonds, or other 'gn tii
denres of Indebtedness. In par value, Tor Tile
smnllest amount of money. The bids and amounts
of warrant bonds, or other legal evidences oi
inasblednrss being equal taking iuto consdrra
tiop both principal and interest, aud sueE other
ruuiries ~ may exist In the premises. eacn snsi
Iva accented, pro rata, az nearly as possible
SEC s. Ali legal claims or demands whatsoever
such as bonds, warrants interest cou ''onS' anu
otber legal evidences of Indebtedness OF said Cor
norate body, existing or outstanding at tue time
m the passage of this act. may be purcha able as
herein provided. from the redemption fund Of said
JS CRoSMAN,
President Of the Senate.
L. B MOORE,
Secretary Of the Senate.
q. w. TUZER
Speaker of thu Assembly.
U. E. ALLEN,
Clerk Of the Assembly