Albuquerque daily citizen. [volume] (Albuquerque, N.M.) 1895-1903, 1901-08-21

clerk of said city of Albuquerque ar,
hereby authorized and direct
ed to cause to be prepared
in such form as will compl,
with the provisions hereof. the bonds
and coupons hereinbefore described
and when so prepared said bonds shat
be signed by said mayor. attested b.
said city clerk. with his signature and
the corporate seal of the said city, and
countersigned by Its city treasurer
and said coupons shall be executed by
the photographic signature OF the said
| city treasurer alone, and the issuance
| OF said bonds. the date, number an
amount thereof. shall be by said city
treasurer noted and registered In 4
book kept by him for that purpose:
and said officers are hereby authorize
and directed to execute said bonds
and coupons for and on behalf Of said
city.
Section 6. That when properly ex.
ecuted as aforesaid. said bonds shall
be used solely for the purpose OF re.
funding a like amount OF the funding
bonds of said city, hereinabove do
scribed. and now outstanding and re-
deemable at the option OF the city, and
simultaneously with the delivery of
said r%efunding bonds or any of the n.
a like amount of the funding bonds
to be refunded thereby as aforesaid
shall be Cancelled, the intention being to
change. but not to increase, at any mo-
men Of time. the issue OF said refund
ing bonds, the Indebtedness of said
city.
Section 7. That In order to meet
the interest accruing on said refund
ing bonds. the city council OF the said
city OF Albuquerque shall at the time
and the manner prescribed by law for
the levying and collecting of other
taxes, cause to be levied and collected
annually a sufficient tax upon all the
taxable property in said city Of Albu-
querque to fully discharge said inter
est as 1t shall become due upon all Of
said outstanding bonds, and all taxes
collected for the payment of such In.
terest shall constitute a special fund
and shall not be diverted to any Other
purpose.
Section 8. That in order to pay the
principal of said refunding bonds the
said city council shall. beginning at
the tenth year after the issuance
thereof, cause to be levied and col
lected annually at the time and in the
manner prescribed by law for the
levying and collecting OF taxes for
other purposes a sufficient tax upon
all taxable property in said city ~
Albuquerque To produce for a sinking
fund and amount equal to two and
one-half per centum per annum OF the
amount OF such refunding bonds. then
outstanding and unpaid; and begin
ming at the n of the twentieth year
after the date OF issuance OF said
bonds, there shall for n period OF ten
years be levied and collected in like
manner a sufficient tax upon all tax
able property in said city OF Albuquer-
que to produce for q sinking fund, 10
be known and called General refund.
ing sinking fund" an amount equal to
ten per centum OF all said refundihg
bonds then outstanding and unpaid,
which said sinking fund shall be kept
separate and apart from other funds
and all Cf said taxes for the paymer,
OF interest or principal as aforesid
shall be in addition to all other taxe9.
Section .. That this ordinance
shall be i~rrevoCable until all of the
above mentioned refunding bonds and
interest thereon shall have been fully
paid and discharged.
Section 10. That all ordinances and
parts OF ordinances in conflict here
with are hereby repealed.
Adopted August 10, 1901.
Approved August 10, 1901.
o. n. MARION,
Mayor.
c. W. MEDLER,
City Clerk.
First publication August 81, 1901.