Santa Fe new Mexican. [volume] (Santa Fe, N.M.) 1898-1951, 1899-08-29
CITY ORDINANCE.

Assembly Of the Territory of New Mex
leo, entitled an act relative to Municipal
Corporations.
Whereas, in and by Chapter LXVIII
of the acts of the Thirty-third Legisla-
tive Assembly of the Territory of New
Mexico, entitled "An Act relative to
Municipal Corporations approved
March 10Th, 1899, it was enacted in, and
by section l, thereof, as follows, to-wit:
Section /. The city councils of all
cities of the first class are hereby au-
thorized to issue bonds of the city for
the purpose of opening streets, con-
structing bitches, building water works
ments and bitches or other means for
disposing of storm or surface water
thereby, to prevent the destruction of
private property or public property
within the limits of said city. All of
such bonds shall be of a denomination
of not less than one hundred dollars or
some multiple thereof; and shall bear
interest at the rate of foul per cent per
annum, said interest payable semi-an-
nually the first day of February and the
first day of August in each year, and to
be evidenced by interest coupons, at
tached to said bonds, and the principal
and interest shall be payable as may be
agreed upon and determined by the
City Council issuing the same. All bonds
issued under and pursuant to the provi-
sions Of this act shall be absolutely due
and payable thirty years after the is
suance thereof, and redeemable, at the
option of said city, after twenty years
from the date of the issuance thereof;
by the Mayor of said city and counter
signed by the Clerk of the city, and bear
the corporate seal Of the city, except
the coupons thereto attached to which
the Autographed signature of said May
or and City Clerk shall be sufficient,
and which said bonds shall be in form
as adopted by the City Council said
bonds shall be issued and sold in such
a manner Is the City Council may di-
rect, but none Of the said bonds shall be
solo for less than ninety-five per cent
of their face value; the interest cou-
pons of said bonds shall be payable in
cash at the time and place where is
made payable by the terms of the bonds
to which they are attached; but they
may be received in payment of all
taxes, excepting levied for the payment
of interest on bonds and regularly as
sessed and levied by the city issuing the
same, and 1t shall be the duty of the
officer charged with the collection of the
taxes of said city, to receive such cou-
pons in payment of the city tax, except
taxes levied for the payment of inter-
est on bonds, and to issue a receipt
therefor, to the amount of the face
value of the interest coupon so received,
and to transmit such coupons to the
City Treasurer who shall allow credit
for the same to said officer charged with
the collection of such taxes.
Section 2. At the time Of the making
of the annual assessment and levy for
taxes in any city in this territory issu-
ing bonds under and pursuant to the
provision hereof, the city shall make a
levy upon all the taxable property lay
ing within the corporate limits Of the
city, sufficient to pay the interest fall
ing due upon said bonds, and after ten
years, from the date of the issuing of
any such bonds, shall in the same man.
ner levy a tax sufficient to create a
sinking fund, that shall equal two and
one-half per cent Of the amount of all
bonds levied annually for the period of
ten years, and after twenty years, from
the date of the issue of any such bonds
Council to levy and assess a tax suffi-
Gent to create a sinking fund equal to
the amount of ten per cent Of the
amount of all bonds issued under the
provisions Of this act and then out
standing, it shall be the duty of the |
City Treasurer when there are sufficient |
funds in his hands to the credit Of the
redemption fund created under the pro-
vision of this act to pay in full the prin-
cipal and accrued interest of any bonds
issued hereunder; provided that said
redemption fund shall then equal the |
sum of one thousand dollars, or multi
pie of m hundred dollars of said fund,
of one thousand dollars, Immediately |
call in and pay as many of such bonds,
with the interest accrued thereon, as |
the funds on hand will liquidate and
pay, having first given notice by publ
cation for at least four consecutive |
weeks in a newspaper in said city, that |
Upon presentation of certain bonds des-
ignating them by number, date and
amount, he will pay the same, and in
terest upon such bond or bonds shall
cease thirty days after the last publica-
ton as aforesaid, and in and by section
8, as follows, to-wit:
Section 8. Any officer or agent Of any
municipal corporation who shall appro-
pirate for it's W use my moneys aris-
ing from the sale Of n bonds as pro-
from its use as provided in this act, any
of the funds raised by taxation or 9TH
erwise for the purpose Of the payment
of interest accruing upon said bonds,
upon conviction thereof, shall be pun
ished by imprisonment in the Terrific
rial Penitentiary for a period of not less
than three or more than ten years.
Therefore, be it ordained by the City
Council of the City of Santa Fe:
Section 1. That by virtue of the pro-
and by virtue Of the power and author
ity on it conferred, the City Council Of
the City of Santa Fe does hereby issue
and direct, order and authorize the is
suance of the bonds of said city, in &C.
cordance with said statute for the pur-
pose of opening streets, constructing