Santa Fe daily New Mexican. [volume] (Santa Fe, N.M.) 1885-1897, 1897-02-15

dred dollars each or some multiple there.
Of, and shall bear interest at tho rate OF
six (6) per oentum per annum, payable
semi-annually on the first days of July OF
each year; both principal aud interest
shall be payable at the Office of the coun.
ty treasurer of such country issuing such
bonds, or at such place as the county
commissioners may designate, and all
such bonds shall be payable at the op.
ton OF the county commissioners issuing
the same, in twenty years, and absolutely
due and payable thirty years after the
date thereof.
Sec. 6.--That the county commission
ers shall execute said bonds, and deliver
the same to the holder of such warrants,
together with the accrued interest there.
on, and for any balance of such warrants
and interest as aforesaid, over the amount
OF bond or bonds 50 issued as aforesaid,
the board of county comm ssioners shall
issue to the owner or owners thereof a
new warrant, similar to the comfy war
rants now being used, and bearing inter
est at the rate of six (6) per centum per
annum from the date thereof. All such
warrants shall be reported by the county
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be registered and paid by him out of any
money in his hands, collected as herein
after provided, to pay the interest on
said bonds, after the payment of inter
est has been made for any year, and a
surplus amount shall be left over.
Sec. ALL bonds issued under the
provisions of this act shall be numbered
consecutively, beginning with number
one, and shall be signed by the chairman
of the board of county commissioners
and attested by the county clerk under the
seal of the county. The commissioners
shall prescribe the form of such bonds,
and all coupons shall be signed by the
chairman of the board of county commits
sioners and by the treasurer of such
county. and the coupons attached to each
bond shall bear the same number as the
bond to which they are attached, and shall
show the date of maturity of such coupon
bond. All bonds issued under the pro-
visions of this act shall be registered in
the order in which they are issued, the
number, date and amount Of each bond SO
issued, and the time when the same shall
become due, together with the name of
the person to whom issued.
Sec. 8.-That it shall be the duty of the
county commissioners of any county is
suing bonds under the terms of this act
to levy each year, at the time of making
the levy of other taxes, a special tax upon
the taxable property situate within the
limits of said CITIES in said counties, suf-
ficient in amount to pay the interest on
said bonds or warrants for each year;
such tax shall be kept separate from the
taxes levied for other county purposes,
and shall be payable In money, and shall
be devoted exclusively, first to the pay
ment of such interest, and next to the
payment of warrants issued by the county
as provided by section of this act
Sec. 9.-That after the expiration of the
year 1917, and annually thereafter, until
said bonds shall be fully paid, the county
commissioners of each county issuing
bonds under the provisions of this act,
shall provide sinking fund, by taxation,
and shall levy a tax upon the taxable
property within the limits of said city or
cities in said counties equal to at least ten
per centum, and not more than twenty
per centum of such bonds. Whenever
funds to the amount of one thousand dol
lars shall come into the hands OF the coun-
ty treasurer, he shall give notice by pub
location once week for at least four con-
secutive weeks in some newspaper pub
lished in his county; and if there be no
newspaper published in such county, then
in the nearest newspaper published in the
next adjoining county; that upon pres
of certain bonds, designating
them by number, date and amount, he
will pay the same; and interest upon such
bond or bonds shall cease thirty days
after the last publication aforesaid; and
all such bonds shall be called for redemp.
lion in the order of their number, begin
ming with No. l.
Sec. 10.-That any funds remaining in
the hands of the county treasurer after
The redemption OF such bonds shall be
transferred to the fund for payment of the
current expenses of the county.
Sec. 11.-That any and all laws and
parts of laws in conflict with this act are
hereby repealed.
Sec. 12.-This act shall take effect and
'e in full force from and after it's passage.