Las Vegas free press. (East Las Vegas, N.M.) 1891-1???, 1892-03-11

nishipg OF the town buildings now under con-
1 tract and In course of erection In said town
and for no other purpose, therefore:
&c it 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 value) bearing interest Mt
| the rate of six per cent per annum, interest
payable semi-annually on the first day of jan
nary and the first day of July, of each and
every year, commencing the first day of jan
uary A. ID. 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
tton 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 underthis ordinance
to run, mature, and TO become absolutely paya-
able in thirty years from the date of the issue
of same, but redeeinabie and payable at tho
option and will of said town at any time after
tho expiration of ten years from the date of
their issue upon the tender or payment of the
iace value OF same or any OF said bonds and I
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-
demption of all or any of sad bonds, or in |
some newspaper at the place where said bonds |
are made payable, shall be construed ~ 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 bidderor bidder for
the entire issue of said bonds or for anyportou
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-flve
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. d. 1892 at which election
those qualided to vote for or against the issu-
ing of said bonds for the purposes herein mem
toned, will be given an opportunity to vote
whether or not the said bonds shall be issued
and said debt created by said town; and upon
n majority of such votes cast mt said election
upon the question of whether or not said
bonds shall be issued being i'm 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
issued and sold for the purposes
herein mentioned; but IL 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.
Enacted this Sth day of March, A. ID 1892.
j. NJ. CUNNNINGHAM, Mayor.
Attest: w. Ii. KELLY, Recorder pro tenn.