Las Vegas free press. (East Las Vegas, N.M.) 1891-1???, 1892-03-23

nishing of the town buildings now under CON
tract and in course of erection in said town
and for no other purpose, therefore; :.
Be IL ordained by the Board of Trustees OF
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, lpar valued, bearing interest a!
payable semi-annually on the first day of jan
uary and the first day of July, OF each and
every year; commencing the ilrst day Of Jan,
principal of said bonds be made as provided
for In this ordinance and said bonds TO be des-
ignated and known as the town hall compile.
ton bonds.
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 hail
now under construction and the furnishing of
same when completed for the use of said
town.
Said bonds 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 tho
option and will of said town at 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 tho legal tender of the United States, and
public notice In any newspaper pub
lished and circulated in said town at any time
after the expiration OF said ten years, Tor
demption of all or any OF SAID bonds, or in
some newspaper at the place where said bonds
are made payable, shall be construed to be
full notice to the holder or holders of said
bonds of the desire and wish of said town to
redeem the same, aud the same shall not draw
interest after such notice and call for re-
demptiOn by said town.
said bonds to be issued of such denomina-
lions and for such amounts as the purchaser
or purchasers thereof may require or prefer,
but only in multiples of one hundred dollars,
aud no bond to be issued for the face or par
value of less than one hundred dollars.
said bonds TO he sold by the Town Trustees
of said town to the highest biddcrOr bidder for
the entire issue of said bonds or for any portion
thereof after due advertisement In some news
paper published and 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 auy OF SAID
bonds be sold for, price less than ninety-nve
cents of their par value
The issuing of said bonds and the creating
of said Indebtedness by said town by reason
thereof TO be subject to the rntthcation or re-
lection by the duly qualthed G ectors ana tax
PAYERS of said town entitled to vote thereon
at the time of the annual election Tor town
officers, which election will be held on the
9th day of April, A. ID; 1872, ut which electlon
those quail led to vote for or against the tsSu-
ing of said bonds for the purposes herein men
toned, will be given an opportunity oNOtc
whether or not the said bonds shall ne ISSUED
and said debt created by said town; and upon
a majority of such votes cast ut said election
upon the question of whether or not sald
bonds shall be issued being IN the affirmative
and i'm favor OF the issuing OF said bonds mere
in provided for, then this ordinance shall take
effect and be in full force, and said bonds ne
accordingly issued and sold Tor the purposes
herein mentioned; but IL the votes cast ut
said election be Il majority against the issuing
of said bonds, then this ordinance shall be OF
no effect and said bonds shall not be issued or
said debt created. -
j. NJ. CUNNNINGHAM, Mayor.
Attest: w. Ii. KELLY, Recorder pro tenn