Las Vegas free press. (East Las Vegas, N.M.) 1891-1???, 1892-04-01

nishinR OF the town buildings now under con.
tract ana 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 Vegus, New Mexico:
| That there be issued bonds OF the said town
nf East Las Vegas to The amount OF ten thou
| sand dollars, tpar vaiuel, bearing interest Ht
The rate OF six per cent per unnum, interest
SaNabie semi-unnually on the first day of Jam
uars and the first day of july, of each and
| very year, commencing the nrst day of jan
uary A. ID. 1888 until the fun payment OF the
principal OF said bonds be made as provided
Tor In tnis ordinance and said bonds to be des-
grated and known as the town hall compile
ton bonds.
said bonds TO be issued and sold for the pur-
pose of raising money and means with which
O. pay for the completion of the town hall
now under construction and the furnishing or
same when completed for the use of said
'uwn.
ouid bonds to be issued underthis ordinance
90 run, mature,and to become absolutely paya-
able in thirty years from the date of the issue
nt same, but redeemabie and payable ut the
option and will of said town at any time after
the tx iratiun OF ten years from the date of
theiI issue upon the tender or payment of the
lace Vaiue OF same or any of said bonds and
he accrued interest to the dutc of such ten
der OF payment. such payment To be made
~ tue legal tender of the United States. and
pubic notice in Any newspaper pub
isnvd and circu atcd In said town 1T any time
liter the expiration ut SAID ten years, Tor
ne period 81 thirty days, ca ling Tor the re-
a. uiptiun of all or ans of SAID Bonds, or in
are mude payHbie, shall he construed to he
tuli 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 aud call Tor re- |
dem. tlnn by said tuwn.
aid boIds to be issued of such denomina- |
tons aud for such amounts MS the purchaser |
or purchasers thereof may require or prefer |
out only in muitiples of one hundred dollars, |
~ no bond to ne issued for the face or par /
va,ue uf ,ess than one hundred dollars
laid bonds TO be sold by the Town Trustees |
ut shid Town to the highest bidder or bidder Tor /
I ne tnti Issue of said bonds or for any portion
thereof, after due advert sement in some news
pup published ana circulated la said town |
0l tho intended sale of same, and on sealed !
uid> to the bOHtd OF Trustees OF said town for /
inc same or any portion, but no bid To be re-
ccivtd or considered, nor SHAH any of said /
Conds 10 sold for, price less than nincty-hYe =
ecuts uf their par value.
The issuing of sad bonds aud the creating |
OF said Indebtedness 10y said town by reason I
thereof IT, tc subject TO tho ratification or re- !
lection by the duiy qualified cctOrs aud tax !
pa! ers of SAID town entitled tn vote thereon !
at the limo OF the annual election for town 4
iuueis. which election will be held on the =
those quail ed to vote for or against the issu-
ny Oi sud bonds fOrthe purposes herein men ,
Toned, Will he given an opportunity to- vote
whether or not the sud bonds shall TIE issued
and said debt created 10y said town; and upon
u majority of such votes cast ut said election
up n the question of whether or not said
Junds shall be issued being IN the affirmative /
and Ia favor o! the issuing of SAID bonds here.
~ provided for, tEen this ordinance shall take
nert and be in full force, and said bonds be
accordingly issued aud sold Tor the purposes
erein mentioned; but IL the votes cast ut
said election be u majority against the issuing |
Il said bonds then THIS ordinance shall be of
Ne eject and said bonds shail not be issued or
sud debt Great, d.
Enacted tins sth day of Marah, a. ID 1892.
j NJ. CUNNNlNtiHAM, Mayor.
Attest: w II KELLY, Recon DIES pro TEN.