Albuquerque daily citizen. [volume] (Albuquerque, N.M.) 1895-1903, 1903-02-13

the lSt DAY OF OctoDer, a. ID. 9V4 the
total Indebtedness OF Bernalillo coun-
ty, from which Sandoval county Is seq
such Indebtedness, and less the value
OF all permanent public Improvements
remaining In Bernalillo county, and al
so ascertain from the assessment rolls
for the year 1904, the value of all tax
able property embraced within the lin
its of Sandoval county, so taken from
Bernalillo county; and ~thereupon to
determine the amount of such indebt-
edness that may be due from Sandoval
county to Bernalillo county, less the
amount of cash on hand to meet such
Indebtedness, as such conditions exist
ed on the LIST day of October. A ID.
1904, and the amount so found to be
due from Sandoval county to Bernal-
lilo county, by said commission, shall
be final and conclusive on both coun-
ties.
Sec. Q. For the purpose of enabling
Sandoval county to pay to Bernalillo
county the amount Of its obligation
and debt as found and ascertained by
the commissicn provided for In section
eight of this act, the board of county
commissioners of Sandoval county is
hereby authorized and directed to is
sue its coupon bonds of that county,
which shall bear interest at the rate of
five per cent per annum, evidenced in
coupon bonds, payable semi-annually;
such bonds shall be payable absolutely
twenty years from their date, and at
the option of said county after ten
years from their date. They Shall be in
sumo of one hundred dollars, or some
multiple thereof; they shall be signed
by the chairman of the board of county
commissioners. countersigned by the
clerk of said board, attested by its seal
and endorsed by the treasurer Of the
county, and shall be in form to be ap-
proved by the district attorney of the
second judicial district.
Sec. 10. Such bonds may be sold for
cash, at not less than par and the pro-
ceeds turned eve to the said county of
Bernalilo in full settlement of said
debt; and if said sale cannot be made
by the first day of July. A. d. 1905,
then and in that case the said bonds
and coupons attached shall be turned
over to Bernalillo county in full settle
ment of said debt. And it shall be the
duty of the board of county commits
sioners of Sandoval county to annually
levy a tax sufficient to pay the interest
coupons coming due sem!-annually up
en- said bonds. and in addition a sufiic-
lent amount to create a sinking fund
to pay said bonds when they become
due. Said bonds shall be the first is
sued by said Sandoval county, and the
levy for the payment of interest and to
create a sinking fund shall be the first
made, and such bonds shall be known
and designated as "Sandoval county
establishment bonds" Such bonds
shall be dated the 1st day of July. 1905,
and the coupons due and payable semi
annually thereafter. The debt ascer-
tanned to be due from Sandoval to Ber-
nalillo county on the LIST day of Janu-
airy, A. ID. 1905, shall bear interest at
NV AotO vi ~ pei 1tDl pei hilull llOIl
date until the payment of the same in
cash or the taking of the bonds above
provided for and this amount of inter-
est shall be added to the debt evidenc-
ed by the issuance of said bonds, and
be included therein and from January
!, 1905, the 5 per cent additional inter-
est due to July /, 1905, shall be consid-
cred and treated as a current expense
OF Sandoval county, and paid as such.
Sec. IL. Sandoval county shall be en-
titled to have and receive from the
county of Bernalillo all unpaid taxes
for the year 1904, which taxes have
been levied and assessed upon or
against property within the former
limits Of Bernalillo county and which
by this act are cut Off from Bernalillo
and became a portion of Sandoval
county; and the treasurer and collect
or of said Sandoval county shall col
lect and receipt for the same to the
same extent as the treasurer of Berna-
lilo county might have done had said
property remained within the limits of
said county. And Sandoval county
shall be entitled to and receive from
county. such proportion of
the moneys received from licenses is
sued by Bernalillo county, in force in
Sandoyal county during any part of
the year 1904. as such u%nexpired term
OF each such licenses may bear to the
whole term for which said license was
issued. And all taxes already collected
and paid into Bernalillo county for the
year 1904, upon the persons and prop
eIty situated within the limits and
boundaries of Sandoval county, shall
be credited upon the proportion of Ber-
nalillo county debt accrued and to be
paid by Sandoval county; and all pen
alties or interest accrued upon taxes
due upon such property within the lin
It's and boundaries of Sandoval county
for the year 1904, are hereby transfer
red to that county, and its treasurer
shall collect and receipt for the same