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

Toard Of County Commissioners may
issuv and sell to any contractor, or con-
tractors, such portion or amounts Of
bonds ns may be agreed upon between
the parties, ut the rates and upon the
terms aud conditions hereinbefore pre-
prescribed for the payment OF any ina.
teriuls furnished, or current liability in
CURED, or contracted in the construction
of said County Jail and furnishing
thereof, but for no other purpose, what
ever.
SEC. IL. The necessary expenses OF
preparing such bonds, advertising ami
issuing the same, shall be paid out of
any money in the General Fund" Of
said County not otherwise appropriated.
SEC. IL. For the payment of the
principal and interest of the bonds is
sued by authority of this Act, it shall
be the duty of the County Commission
ers OF said County to levy and collect
annually at the same time and in the
same nIGnuer that other State and
County taxes are levied and collected, a
tax of five cents on each one hundred dol
lars valuation Of taxable property in said
County, and the money derived from
this tax shall be set apart aud kept sep
arate, in the amount and maunsr here
matter provided. from other moneys in
the County Treasury, and shall be dos
ignsted as the Jail Redemption Fund"
and shall be applied to the
payment of the said interest accruing
Oh the bonds herein provided for. and for
the redemption and payment OF said
bonds.
SIC. l3. Whenever on the first Tues-
dUy III January of any year, hereafter,
af er the payment of the interest then
accrued there shall remain n surplus in
the Jail Redemption Fund " Of five
hundred dollurs or upwards, the County
Treasurer of said County shull proceed
10 advertise Tor not less than thirty days
IN some newspaper published i'll Elko
County inviting proposals for the sur
render of bonds ISSUED under this Act,
such advertisement. shall state the
time and place Of receiving such bids,
the amount Of money OH hand Applica-
bic TO the redemption of such bonds. and
that no bid will he received exceeding
the par value thereof. The County
Treasurer together with the Board OF
County Commissioners shall proceed to
open and consider such proposals at
the time named i'll the advertisement,
and shall accept such proposals at rates
upl fAGGtulhs tDc PR Nhlucths may rem
der th5 greatest amount OF bonds, until
the amount of cash on hand is exhaust.
ed.
SEC. II. Whenever the said bonds
aud interest provided for in this Act.
shall have been redeemed or fully paid
Mt maturity thereof the tax authorized
and levied by this Act shall cease, and
all moneys, then remaining i'll the "JA'
Redemption Fund" shull be transferred
by order Uf the Board of County Com
missiOners to the General Fund" of
s.id County.
SEC. ID. Whenever the County Treas
urer shall payanycuupons OF bonds under
the provisions Of this Act, he shall cam
eel the same in tho usual manner aud
turn them over to the County Auditor
"nu shall giTe him credit therefor on
his h0uKs.
SEC. ID. The use, appropriation or
diversion OF any Of the moneys nen-
tiun aud provided for in this Act. TO
any other purpose tbnn as hcreinbefore
declared shall be deemed II felony, and
the party thus offcudiug shall he SUBJ
jet to the penalties as provided by Law
for such offenSes.
Approved March Sth. 1879.
STATE OF NEVADA,
Secretary's Office.
l. Jaspar Babcock. Secretary Of State