The weekly Elko independent. [volume] (Elko, Nev.) 1872-1887, 1879-05-04


and TO Issue Bonds for the
Construction or = County Jail.
The People Of the State Of Neradd repre-.
gsnted in the Senate and -1ssem6ky do
enaei as .foiioTs
SECTION I. The Board Of County
Commissioners OF Elko County. Nevada,
are Hereby authorized and empowered
to contract debt. and To borrow n oncy
ON the faith aud credit of the county
for the purpose of constructing u COun-
ty Jail, provided that the whole amount
Of such debt: or money. borrowed in
the urETrgut-.. shall not exceed The stun
Of ten thousand dollars, exclusive of
interest.
SEc =. The Board of County Com.
missioners OF snii county, anu their
succoSsors in office, shall be and are
hereby empow-rsd to perform the duties
hereinafter enumerated, to carry into
effect the provisions Of this Act.
SEC. 5. The said Board Of County
Commissioners shall cause to be pre-
pared. aud shall have power to issue on
behalf Of said county, bonds in the
sums OF not less than two hundred dol
lars, nor greater than one thousand dol
lnrs. each with coupons for interest at
tachUd, bearing interest at the rate OF
ten per cent per annum, payable IN gold
and silver coin; which bonds shall be
made payable 1T the TTrhsur>r's Office
Of said county on the first day of Jan
nary, one thousand eight hundred and
ninety. nine ;Gnd the interest on the same
shall be made payably 10y the Trousurer
of said county, ut his oijce, annually,
on the first day 0f the month of J"nu.
AIRY III each year, on presentation of the
coupons therefore Us the same becomes
due.
SIC. (. The back of said bonds so
Issued shall Ice cousecutively numbered
for each denomination. aud shall be
signed by the Chairman of the Board Of
County Commissioners. and auth-utI-
Gated by the Clerk of the said Bonrd
aud shall purpOr; IN substance. that the
said county is ind btrd to the holder
thereof III the sum named therein, pay
able and braGing interest ~ aforesaid.
and that the faith nui credit of the
county Of Elko il pie dyed for the re.
drmptiOn of the same. The coupons
for interest hail also be signed by the
Chairman and Ciork of the Board, ard
shall be cOnsccutively numbered, accord
IES TO the date o! payment.
SEC. 8. The Clerk Of the Board Of
County Commissioners, shall keep a
record Of NJ! their proceedings, and all
bonds that muy be ISSUED under this
Act, showing the number, date, aud
amount 81 each. and to whom issued
and aS soon ns such bonds can be pre-
pared for issue. the Board of County
Commissioners shall proceed to sell and
dispose of = sufficient number anl
nmoun; thereof to provide the morcvs
necessarily required FOR the purpose of
constructing IA County J al. and luraish.
ing the same.
SEC. 6. All sales 81 bonds shall be-
made for gold and silver coin ui the
United States. Tnc moneys derived
from the sale Of such bonds shall be
devoted sulo.y AM rNclusiycly 10 tho
uses and purposes declared in the for..
going section, shall be- deposited "a tho
County Treasury, when received shall
be kept Rs n separate fund TO be dcsig
mated the "JuIl Fund" and shall not
he used, diverted, appropriated or
disposed OF for any Other purpose.
The moneys so contained in such Jail
Fund" shall be drawn from the Treas
ury only upon the order Of the Board
Of County COMMISSIONER, signed by
the Chairman, and countersigncd by
the Clerk thereof specifying tho pur.
p"so for which, aud the persons to
whom the same are ma 10 payable.
SIC. z. Should there, however, he
any money still remaining in the said
Jail Fund unused and uDappropri.
nt"d after the completion of the said
County Jail, and furnishing the same
ns provided, then the said money shall
by order Of ia" Board Of County Com.
miasiOnrts, be transferred to the Jail
Redemption Fund Of said country.
SIC. 5. All sales of bonds shall bo
made i'll the following manner: The
Board of County Commissioners shull
cHuse notice tu he published for twenty
days Ia any newspaper published In
EtHo county, uniting sealed proposals
for the purchase of said bonds. The
notice shall state the time and place OF
receiving such bids, the amount of
bonds TO he disposed Of and that bids
will be received for one bond or more,
naming the amount for which the bonds
are issued. and that the payment for
the same must be made in gold aud sill.
yer coin OF the United States. Parties
proposing to purchase bonds offered as
aforesaid, must state in writing the
amount they propose to purchase, aud
the rate per contain, they propose to
pay, provided. tLa, no bid shall be- nc.
ceptcd, nor any OF such bonds sold by
the Board for less than ninety per
centum Of the par value thereof.
SIC. o. At the time specified in tho
notice for received and condsidcring
bids tho I,ontI of Cnuniy rntum:a
sioners, or n minority Of them shall
meet nu1 proceed iu open aud consider
the proposals. aud may accept such as
propose 10 purchase such bonds, ut tho
highest pelcentum OF the par value
thereof ns stated in the last prcccdi. &
section, or may reject any OF all such
bids. and may re advertise for proposals
II sufficient funds be not provided By
tho acceptance Of n portion or all of the
bids no made. Upon tho acceptance Of
any such bid, tho Clerk of the Board
shall Immediately notify tho bidder
thereof, and require him 20 pay TO the
County Treasurer, the amount of tho
purchase money in gold md silver coin
within ton days thereafter. and upon
the payment Of such purchase money
by tho bidder, shall deliver 10 him the
bonds so purchased.
SEC. 10, At any timo after the open.
ing, consideration and acceptance OF
proposals for the purchase OF such
bonds. II IL shall appear that tho whole
amount thereof so offered has not been
taken. the Board OF County Commission.
ors may proceed TO sell the remainder
or any portion thereof, at private sale,
To guch purch tgnrs aa NAV prgppnt