Las Vegas free press. (East Las Vegas, N.M.) 1891-1???, 1892-03-25

nishing of the town buildings now under con-
/ tract and in course OF erection in said town
| Be it 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, (par valued, bearing interest Mt
the rate of six per cent per annum, interest
payable semi-annually on the first day of Jam
uary and the first day of July, of each and
every year, commencing the nrst day of Jam
uary A. ID. 1888 until the full payment of the
! 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 hall
now under construction and the furnishing OF
same when completed for the use of said
town.
Said bonds to be issued under this 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 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 the legal tender of the United States, and
public notice in any newspaper pub
iished and circulated in 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 sad bonds, or in
some newspaper at the pace where sud 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
raid bonds to be issued of such denomina-
lions and for such amounts as tue purchaser
or purchasers thereof may require or prefer,
but only i'm muitpies of one hundred dollars,
and no bond to he issued for the face or par
value OF less than one hundred dollars
said bonds to be sold by the Town Trustees
of said town to the highest hidderor 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 shalt any of said
bonds be sold for, price less than ninety-ilve
cents uf their par value.
The ssuimy OF said bonds and the creating
OF said Indebtedness by said town 10y reason
thereof 10 tie subject 10 the ratification or re-
lection by the duly qualified q cctors and tax
payers OF said town entitled to vote thereon
al the time OF the annual election for town
officers, which election viii be he'd ON the
5th day OF april, A y 1892, Mt which election
those QualiGed to vote for or against the issu-
ing of said bonds fOrthe purposes herein men
toned, viii be given an opportunity oVOte
Whether or not tho said bonds shall be issued
and said debt createl by said town: and upon
Il majority OF such votes cast mt said election
upon the question OF whether or not SAID
bonds shall be issued being in the affirmative
and in favor OF tho issuing OF SAID ponds mere
in provided for, thCn this ordinance shall take
effect and bc in full force, and said bonds be
accordingly issued and sold Tor the purposes
herein mentioned; but IL the votes cast AT
said election b" . IT. .OIity against tue Issuing
OF said bonds, then this ordinance shalt be OF
no erect and said bonds shall not be Issued or
SAD u created o
49, n. OUNNNISGHAM, Mayor.
Attest " - KELLY, recorder pro TEN.