Santa Fe daily New Mexican. [volume] (Santa Fe, N.M.) 1885-1897, 1889-05-10
SOME NEW LAWS.
Acts of the 2sth Assembly OF Interest to
the People.
Concluded from Yesterday

lConcluded IRON Yesterday
Sec. 5.-All bonds issued under the
provisions of this act shall be numbered
consecutively, beginning with number /,
and shall be signed by the chairman OF
the board OF county commissioners and
attested by the probate clerk under the
seal of the county. The county commits
siOners shall prescribe the date and form
OF such bond or bonds, and all coupons
shall be signed by the chairman OF the
board OF county commissioners and by the
treasurer of such county and the coupons
attached to each bond shall bear the same
number as the bonds to which they are
attached, and shall show the date OF ma
turty of such coupon bonds.
Sec. 6.-The county commissioners OF
each county issuing bonds under the pro-
visions Of this act shall provide a book
and shall register therein, in the order in
which they are issued, the number, date
anG amount of each bond so issued and
the time when the same shall become due,
together with the name of the person to
whom issued, and description of the
warrants or bonds. as the case may be,
taken up and Cancelled by issuing said
bond or bonds; and they shall likewise
keep memorandum or record OF all bond
or bonds, or warrant or warrants, ut any
time taken up and paid by the treasurer;
tered on the back thereof blythe treasurer
of such county, who shall certify that
such bond or bonds have been regularly
signed in accordance with the laws of the
territory of New Mexico.
Sec. Tt shall be the duty Of the county
commissioners Of any county issuing
bonds under the terms of this act to levy
each year, at the time of making the levy
of other taxes, tax sufficient in amount,
and no more than is sufficient, to pay the
interest on said bond or bonds, warrant
or warrants, for each year; such tax shall
be kept separate from the taxes levied for
other county purposes, and shall be paya
BILE in money, and shall be devoted cX-
clusively to the payment OF such interest.
Sec. S.-After the expiration of the
year 1889, and annually thereafter until
paid, the county commissioners of each
county shall provide a sinking fund, by
taxation, and shall levy tax equal to at
least 10 per Centum and not more than 20
per centum of such bonds whenever funds
to the amount of$ 900 shall come into the
hands of the county treasurer, he shall
give notice by publication once week for
at least four consecutive weeks, in some
newspaper published in his county, and
If there be no newspaper published III
such county, then in the nearest news
paper published in the next adjoining
county, that upon presentation OF certain
bonds, designating them bynumber, date
and amount, he will pay the same; and
interest upon such bond or bonds shall
cease thirty days after the last publication
aforesaid; and all bonds shall be called
for redemption in the order OF their num-
Der, beginning with No. |.
Sec. amy funds remaining in the
hands Of the county treasurer after the
redemption Of such bond or bonds shall
be transferred to the proper fund for the
redemption of county warrants, or to the
fund for payment of the current expenses
Of said county.
Sec. Whenever any bond or bonds,
or the interest there on or the coupons at
taChed thereto, issued under the provi-
sions OF this act, shall become due and
be unpaid, they shall on presentation to
tHC plOpei ulSDulolhS u'itCi VI All tOuli-
ty wherein such bonds were issued, be
promptly paid by him out OF the money
in his hands collected for that purpose;
or he shall send said funds to the des-
ignated place of payment, and he shall
indorse in red ink upon the face of any
and all bond or bonds or coupon or
coupons redeemed by him in the words
Cancelled and paid" and the date OF
payment, and sign his name thereto and
at each settlement with the board OF
county commissioners OF such county, he
shall turn over to such commissioner any
and all bond or bonds, coupon or coupons,
SO redeemed and cancelled by him; which
said bonds or coupons shall be carefully
preserved or destroyed.
Sec. 1.-THE provisions OF this act
shall not apply to such part of the indebt-
edness of any county incurred or created
after July 3Uth, A. D. 1889, as was in ex-
cess of per centum Of the value of the
taxable property within su"h county, ac-
cording to the last assessment mad pre-
vious to the mourning and creating Of such
Indebtedness, which said excess OF indebt-
edness shall be void.
Sec. 12.-This act shall take effect and
be in force on and after date OF its pass
age.
Sec. 13.-All acts and parts of act in
conflict with this act be and the same are
hereby repealed.
Approved Feb. 10, 1889.
An act concerning unincOrDOrateI