Las Vegas free press. (East Las Vegas, N.M.) 1891-1???, 1892-03-24

! nishing of the town buildings now under con
/ tract and i'm 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
OF East Las Vegas to the amount of ten thou
| sand dollars, (par valued, bearing interest at
the rate of six per cent per Rpnum, interest
payable semi-annually on the first day of Jan
uary and the haRRpsiay of July, of each and
every year, hencing the first day of Jan
uary A. Dsyslo 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 ana known as the town hall compile
ton bonds.
said bonds to be issued aud 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 he 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
demption of all or any of SAID bonds, or in
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, |
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 bidder or bidder for
the entire issue of said bonds or for anyportion |
thereof, after due advert sement In some news |
paper published and circulated in said town |
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-tiYe !
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 |
ut the time of the annual election for town |
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 the purposes herein men I,
toned, will be given an opportunity ovote
whether or not the said bonds shall he 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 said I
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 Tor the purposes |
herein mentioned; but IL the votes cast ut
said election be n 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. d 1892.
j. NJ. CUNNNINGHAM, Mayor.
Attest: w. Ii. KELLY, Recorder pro TEN.