Las Vegas free press. (East Las Vegas, N.M.) 1891-1???, 1892-03-30

lnishing OF the town buildings now under con
tract and In course of erection in said town
and for no other purpose. therefore:
lie 1t 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 valuel, bearing interest al
the rate OF six per cent per aunum, interest
payable semi-annually ON the first day OF Jan.
uary and the first day of July, OF each and
every year, commencing the first day of Jam
uary A. ID. 1899, until the full payment of the
! principal OF said bonds be made as provided
| Tor In this ordinance and said bonds TO be dos
| ton bonds.
said bonds to be issued and sold for the pur-
pose of raising money aud means with which
TO pay Tor the completion OF the town hall
now under construction and the furnishing OF
| town.
Said bonds to be issued underthis ordinance
10 run, matureand to become absolutely paya-
aDle IN thirty years from the date of the issue
OF same, but redeemable and payable ut 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
iace value OF same or any of said bonds and
inc accrued interest to the date of such ten
der OF payment. such payment TO be made
In the legal tender of the United States, and
public notice in any newspaper pub
ished 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 |
fun 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 for re- |
demption by said town.
Said bonds to be issued of such denomina- |
tons and for such amounts as tue purchaser
or purchasers thereof may require or prefer,
but only in multiples of one hundred dollars,
ana no bond to be 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 bidderor bidder Tor
the entire issue of said bonds or for any portion
thereof, after due advert isemCnt in some news
paper published and circulated Ia 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
6onds be sold for, price less than nnety-iive
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 ratification or re-
lection by the duly qualtned ectOrs and 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
9Th day of April, A. ID. 1872, at which election
hose qualided to vote for or against the issu-
ing OF said bonds for the purposes herein mem
Toned, Will be given an opportunity to vote
whether or not the said bonds shall he issued
and said debt created by said town: and upon
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 |
n provided for, then this ordinance shall take
elect and be in full fO ce, and said bonds be
issued and sold Tor the purposes
ierein mentioned; but IL the votes cast at
'ud election be majority against the issuing
IL said bonds, then this ordinance shall be of
40 elect and said bonds shall not be issued or
'aid debt created
Enacted this Sth day of March. A. 1892.
j. N. CUNNNINGHAM, Mayor.
Attest: w. II. KELLY, Hecorder pro tenn