Santa Fe new Mexican. [volume] (Santa Fe, N.M.) 1898-1951, 1900-11-22
CHAPTER

An Ordinance to amend Section 6 of
AN ordinance entitled AN Ordnance
granting to M. w. McGrath, his heirs
and assigns a franchise to build and
operate a street railway in the city of
Santa Fe, county of Santa Fe and
territory of New Mexico"
Passed September Oath, 1900, and to
provide for the carrying out Of said
ordinance as amended.
Be it ordained by the city council of
the city of Santa Fe:
Section 1. That Section 6 of an ordi-
nance, entitled IAN Ordinance grant
ing to M. w. McGrath, his heirs and
assigns, a franchise to build and oper-
ate a street railway in the city of
Santa Fe, county of Santa Fe and ter
ritory of New Mexico" passed Septem-
Der Gath, 1900, be and the same is here
by amended to read as follows:
Section 6. From and after the ex-
piration of a period of twenty-five
years from the date of the passage of
this ordinance, five per cent (5) Of the
net earnings of said railway or rail-
ways shall be paid to said city annu-
ally in addition to said taxes, and that
from and after the expiration of said
period of twenty-five (25) years, all
and singular the lands, premises and
property, real and personal, of said
railway o. railways shall be subject
to a lien to secure to said city due pay
ment of said five per cent 60 of the
net earnings.
And in case the said M. W. McGrath,
his heirs OF assigns, shall issue amy
bonds, secured upon the said street
railway, and the franchises hereby or
hereafter granted to them by the city
of Santa Fe, to provide money for the
construction, maintenance, operation or
extension of the said street railway,
then and in that case, in consideration
of the agreement of the said M. w.
McGrath, for himself and his heirs and
assigns to make the payment Of five
per CEN (5) of the said net earnings in
this Section provided for, and also in
consideration of the construction of
said street railway as herein provided
and of the benefits of the same, will
confer upon the said city, the city Of
Santa Fe will guarantee the prompt
payment of the interest upon said
bonds. PROVIDED THAT the amount
of the principal of the said bonds, the
interest upon which is so guaranteed,
shall never exceed, at any one time, the
sum of One Hundred Thousand DOL
lars ($1OO, 0O0.)"
Section 2. That, Immediately upon
the taking effect of this ordinance and
upon the presentation of the said
bonds. the mayor of the said city Of
Santa Fe, in the name of the said
shall endorse upon the said bonds
the guarantee by the said city, of the
prompt payment of the interest there
which said guarantee shall be un-
der the seal of said city, attested by it's
clerk, and shall be in the following
words:
1.-THE city Of Santa Fe hereby guaran-
tees the prompt payment Of each and
all of the interest notes attached to
this bond.
"Tn witness whereof, The said city of
Santa Fe has caused this guarantee to
signed in its name by its mayor, and
it's corporate seal, attested by it's clerk
to be hereto affixed.
The City of Santa Fe, by ]. H. Sloan,
its mayor Attest: Chas. B. Conklin,
City Clerk, after Its passage, approval
and publication as required by law"
Passed November 21st, A. D. 1900.
j. H. SLOAN, Mayor.
Attest: Chas. B. Conkldn.