Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1865-03-28
MISCELLANEOUS ADVERTISEMENTS
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 NeuGd6 represented in
Senate and Assembly, do enact as toHopS:
SECTION /. For the purposes hereinafter men
toned the Board of Trustees Of that incorporate
body known as "The Inhabitants of the Town Of
| Gold Hill," arc hereby empowered and author
lied to levy and collect, during the year A. d.
| I86:O eighteen hundred and sxty.ive, 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 (5O) cents upon the one hun
dred dollars
SEC. @ Tho time and manner OF levyiug 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 as Redemp'
ton Fund, and the said Board of Trustees are
hereby empowered aud required to set apart hfty
per cent of oil 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-
syely for the payment of the outstanding indebt
eduess 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, A. 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 Irus
tees from time to time, whenever there shall DC
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 be received
for the surrender oftown warrants, bonds or other
legal evidences of indebtednesS Of said town or
corporate body known rs The Inhabitants Of
the Town of Gold Hill, !" and that such sealed pro
poEalS will be received until uay IN salu hoiee
stated.
SEC 5. After tho e1 pration of the time named
in said notice, at meeting of said Board of Trus
tees such sealed proposals shall be opened, and
said Board shall accept the lowest bids for the
surrender Of said warrants, bonds, or other legal
evidences Of Indebtedness, specified in tho prece
ding sectisn NJ bid for moro than par value
shall be 20 accepted. When any bids are accept.
ed the Clerk of the Board shall take description
of the warrants 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
debtedpess 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 shail
be paid out of the said redemption fund. The bids
specified in this act being equal preference shall
be given to the smallest amount. That shall he
deemed the lowest bid which offers the lare est
amount of warrants, bonds, or other legal evil
dcnccs 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 considera'
tion both principal and interest, and such other
equities MS may exist in the premises, each shall
be accepted, pro rata, IA nearly as possible.
SEC. g. Ali legal claims or demands whatsoever
such as bonds warrants, interest coupons and
other legal evidences of indebtedness of said COR
porate body, existing or outstanding at the time
of the passage Of this act, may be purchasa6le ~
herein provided from the redemption fund OF said
Us. CROShAN,
President Of the Senate.
L. b. MOORE.
Secretary Of the Senate.
c. w. T0ZER,
Speaker of the Assembly.
u. E. ALLEN,
nj II IL, hlxf