Las Vegas free press. (East Las Vegas, N.M.) 1891-1???, 1892-03-10

nishing of the town buildings now under con-
tract. and in course of erection in said town
| and for no other purpose, therefore:
| Be 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
sand oIiars epsr vslneI bearing interest al
the rate of six per cent per annum, 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. d. 1893, 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
| tiOn bonds.
Said bonds to be issued and sold for the pur-
pose of raising money and 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
in the 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, for
the period of thirty days, calling for the re-
demptton 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, 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-
lions and for such amounts as the purchaser
or purchasers thereof may require or prefer,
but only in multiples of one hundred dollars,
and 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 bidder or bidder for
the entire issue of said bonds or for anyp0rtion
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 any of said
bonds be sold for, price less than ninety-five
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 qualified electors 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. 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 shall be issued
a 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
in provided for, then this ordinance shall take
effect and be in. full force, and said bonds be
accordingly issued and sold for the purposes
herein mentioned; but If the votes cast at
said election be 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.
Enacted this Sth day of March, A. ID. 1872.
j. NJ. CUNNNINGHAM, Mayor.
Attest: W. H. KELLY, Recorder pro TEN.