Las Vegas free press. (East Las Vegas, N.M.) 1891-1???, 1892-03-31

nishing Of the town buildings now under con-
4 tract and 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 cen thou
sand dollars, (par valued, bearing interest at
/ the rate of six per cent per annum, interest
payable semi-annualy 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. 1898, until the full payment of the
principal OF said bonds be made as provided
for In this ordinance aud said bonds to be des-
lgnated and known as the town hall compile
| ton bonds.
said bonds to 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.
Said bonds to he issued under this ordinance
to run, mature, and 20 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 ana
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 amy newspaper pub
ished 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 10
redeem the same aud the same shall not draw
interest after such notice and call for re
DEM ton by said town.
said bonds TO be issued of such denomtna-
lions and for such amounts as tue purchaser
or purchasers thereof may require or prefer,
but only in muitiples 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 bidderOr bidder for
the entire issue of said boudso for any portion
thereof, after due advert !sement 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-nVe
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 @ ectors and tax
payers of said town entitled to vote thereon
at the time of the annual election for town
officers, which election viii be heid on the
9th day of april, A. ID 1892, at which election
those qualified to vote for or against the iSsu-
ng OF said bonds for the purposes herein men
toned, will be given AN opportunity toNOte
whether or not the said bonds shall he issued
and said debt created by said town: and upon
n 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 mere
m provided for. thea this ordinance shall take
effect and hc in full force, and said bonds DC
accordingly issued and sold Tor the purposes
nerein mentioned; but IL the votes cast AT
said election be majority against the issuing
OF said bonds, then this ordinance shall be OF
no eifeC, gnd said bonds sinai! not be issued or
said debt created. 900,
j. NJ. CUHNNINGHAM, Mayor.
Attest; W. Il. KELLY, recorder pro tenn.