Las Vegas free press. (East Las Vegas, N.M.) 1891-1???, 1892-03-26

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 vniue), bearing interest ut
the rate OF six per cent per anuum, interest
payable semi-unnually on the first day of jan
uary and the first day of July, of each and
every year, commencing the nrst day of jan
uary A. d. 1873, 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 nall compile
said bonds 20 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.
to run, maturc,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 ut 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
pubic notice in any newspaper pub
lshed and circuinted 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 ali or any OF SAN bonds, or IN
are made payable shah be construed to be
full notice to the holder or holders OF said
bonds of the desire ana wish of said town TO
redeem Tia. same. and the same shall not draw
interest otter such notice ana call Tor re-
dem ton by said town.
aid bonds 20 he issued of such denomina-
ticns aud for such amounts rs the purchaser
on purchasers thereof may require or prefer,
but only in muitiples vt one hundred dollars,
,tud no bond to bc issued Tor the face or par
value of less than one hundred dollars
a hl
of said town TO the highest bidderOr bidder for
the cntbc issue OF said bonds or Tor any portion
thereof after due advertisement in some news
paper published and circulated in SAID town
OF tue iuteuGed sale of same, and ON sealed
bids to the Board OF Trustees OF said town Tor
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-nVe
cents OF their par value.
The issuing OF sad bonds and the creating
Of said Indebtedness by said town by reason
thereof to ue subject to the ratification or re-
lection by the duly qualified electors ana TAX
payers OF said town entitled to vote thereon
ut tho time of the annual election Tor town
officers, which election Will he held on the
9Th day of April, A. ID. 1857, ut which election
thusp oualiued to vote for or against the issu-
,u~ OF eaij Apuds fOrthe purposes herein men
toned. viii NC given mn opportunity TO vote
Whetnei or not the said bends shall he issued
and said debt created by said town; and upon
a Inuju, y ut such. votes cast at said election
upon thc question of whether or not SAID
DIUus shall be issued being IN the affirmative
aud ia favor OF tic Issuing OF SAID bonds mere
90 provided for, then this ordinances shall take
cIie,u nd 80 in tuil force, and said bonds be
accordingly issued and sold for the purposes
herein lncrtiCuca. but if the votes cast at
said election be a majority against the issuing
OF sAil coud5, then TINS ordinance SNAIL be OF
M effect and said bonds shall not be issued or
SAID debt c.t'ttld ,,o,
J. NJ. CUNNNINGHAM, Mayor.
Attest: W. IL. KELLY, Recorder pro tenn.