Las Vegas free press., 1892-03-22

nishing of the town buildings now under con-
tract and In course of erection in said town
and for no other purpose ia therefore; 70 e., =,
the town of East Las Vegas, New Mexico:
That there be issued bonds of the said town
of East Las Vegas to the amount of ten thou
sand dollars, (par valuel, bearing interest at
the rate of six per cent per annum, interest
payable sem-annually on the first day of Jan
uary and tho first day OF July, of each and
every year, commencing the nrst day OF Jam
uary A. ID. 1893, until the full payment of the
principal OF said bonds be made as provided
for In this ordinance aud said bonds to be des-
gnated aud known rs the town hall compile
said bonds to be issued and sold for the pur-
pose of raising money aud means with which
to pay for the completion of the town hall
now under construction and the furnishing of
same when completed for the use OF said
town.
said dbonds to be issued underthis ordinance
to run, mature, and TO become absolutely paya-
able in thirty years from the date of the issue
of same, but redeemable and payable at the
option and will OF said town ut any time after
the expiration of ten years from the date of
their issue upon the tender or payment OF the
face value OF same or any OF said bonds and
the accrued interest to the date of such ten
der OF payment. such payment TO be made
i'm the legal tender of the United States, and
public notice in any newspaper pub
lished and circulated I'm said town at any time
after the expiration of said ten years, for
the period OF thirty days, calling for the re-
demptiOn of all or any OF SAID bonds, or in
are made payable, shall be construed to be
full l-notice to the holder or holders of said
bonds of the desire and wish OF SAID town to
redeem the same, and the same shall not draw
interest after such notice and call Tor re-
demptiOn by said town.
said bonds to be issued of such denomina-
tions and for such amounts as the purchaser
or purchasers thereof may require or prefer,
but only in muitipes of one hundred dollars,
ttnd no bond TO be issued for the face or par
value of less than one hundred dollars.
Eafd In ha hV Town Trustees
of said town to the highest bidderor bidder for
the entire issue of said bonds or for any portion
thereof, after due advert sement in some news
paper published aud circulated IN said town
of the Intended sale of same, and ON sealed
bids TO the Board of Trustees of said town for
the same or any portion, but no bid to be re
ceived or considered, nor shall any OF said
EOnds be sold for, Il price less than ninety-hNe
cents of their par value.
The Issuing OF said bonds and the creating
of said Indebtedness by said town Dy reason
thereof 10 be subject TO the ratihcatiOn or re-
lection 10y the duly qualined electors ana TAX
payers of said town entitled to vote thereon
at the time of the annual election for town
officers, which election will be held on the
5th day OF APRIL A. ID. 1892, at which election
those qualified to vote for or against the issu-
ing of said bonds for the purposes herein men
toned, will be given an opportunity TO vote
whether or not the said bonds snail he issued
and said debt created by said town; and upon
n majority of such votes cast at said election
upon the question of whether or not said
bonds shall be issued being in the affirmative
and in favor OF the issuing of said bonds here
i'm provided for, then this ordinance shall take
effect and be in full force, and SAID bonds be
accordingly issued and sold Tor the purposes
herein mentioned; but IL the votes cast az
said election be majority against the issuing
of said bonds, then this ordinance snail De OF
no effect aud said bonds shall not be issued or
said debt created. ,oo,
]. NJ. CUENNINuHAM, Mayor.
Attest: W. II. KELLY, Recorder pro TEN.