Las Vegas free press. (East Las Vegas, N.M.) 1891-1???, 1892-03-17

nishng of the town buildings now under con-
1 tract end In course of erection in said town
and for no other purpose, therefore;
Be II 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 valuel, bearing interest at
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 Hrst day OF jan
uary A. d. 1898, 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 us the town hall compile
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 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 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 I'm any newspaper pub
lished and circulated in said town at any time
after tire expiration of said ten years, for
the period of thirty days, calling for the re-
dempton Of all or any of SAID bonds, or i'm
some newspaper ut 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 denomiua- !
lions and for such amounts as the purchaser |
or purchasers thereof may require or prefer, |
but only i'm 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 anyportion
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 10 be re- |
eeived or considered, nor, shall any of said |
Bonds be sold for, price less than nincty-fve |
cents of their par value.
The issuing of said bonds and the creating |
of said Indebtedness by said town by reason |
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 I
those qualified to vote for or against the issu- ,
ing of said bonds for the purposes herein men, |
toned will be given an opportunity tovote :
or not the suid bonds shall bc issued
and said debt created by said town; and upon
II 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 /
i'm 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 a 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 TEN.