Tonopah bonanza. [volume] (Butler City [i.e. Butler], Nev.) 1901-1909, 1905-02-18
THE SCHOOL BOND BILL.
Assemblyman Cole Passes IL
Through the Lower House
in Record Time.

by Hon. George a. Colei mas pdsseu
that body and is now in the hands of
Of the senate. The quick passage OF
the bin in the assembly was due
mainly to the efforts and influence of
Mr.. Cole. The full text Of the
measure which is known as assembly
bill No. "a, is as follows:
AN ACT TO AUTHORIZE THE TRUSTEES
OF ToNoPAH SCHOOL DISTRICT TO
ISSUE Bonds FOR THE PURPOSE OF
CREATING A FUND FOR THE EREC-
TON OF PUBLIC SCHOOL BUILD
INGs IN THE Town OF ToNoPAH,
NYE COUNTY, NEVADA.
The people OF the State Of Nevada,
represented III Senate and Assembly
do enact as follows:
Section l.. For the purpose OF
providing funds for the purchase Of a
suitable lot Of land conveniently To-
Gated. and for the erection OF a
school house, with necessary out
houses aud appurtenances thereon,
in the town Of Tonopah, County of
Nve, the board Of school trustees Of
Touopah school district, County Of
Nye, are hereby authorized and re
quired To issue bonds in the name Of
said school district, in a sum not ex-
ceeding twenty-five thousand dollars,
gold coin Of the United States, aud
to pledge the good faith and credit
of said school district for the pay
ment Of both principal and interest
Of the same Such bonds shall be
known as ''Tonopah School House
Bonds" The said school trustees
shall cause the bonds to be prepared
and ready for use on the tenth day
of April, nineteen hundred and fve;
SAID bonds shall be Of the denomina
tions Of one hundred, two hundred,
three hunG red, five hundred and one
thousand dollars each, and shall each
purport and state upon the face
thereof that Tonopah school dis
trict in Nye county, State of Nevada
is indebted to the holder, in gold coin
Of the United States in the sum
therein stated, with interest at a
rate not exceeding seven per centum
per anuum from and after the date
Of issuance, interest payable annually
on the ninth day Of April, nineteen
hundred and six, and each year
thereafter, said interest to be paid
at the office Of the county Treasurer
Of said county. None Of said bonds
shall run for a longer period than
fifteen years.
Section 2. When the bonds here
in provided for are so prepared and
ready for issuance, the said board OF
school trustees shall cause the same
to be sold at a price not less than
their par value, and the proceeds
arising from the sale thereof, shall
be paid into the treasury Of Nye
county. The county treasurer is
hereby required to receive and safely
keep the same in a fund TO be known
as "Tonopah District School Building
Fund and to be paid out only for
; the purposes herein stated, on claims
2 therefor, duly verified. which shat
be allowed and ordered paid by the
said board of school trustees, Ger.
titled to, aud further allowed and
; ordered paid by the board Of county
/ commissioners of said county anG
( duly audited by the county auditor
$ and upon his warrants drawn there.
-, for upon said fund.
Section 3. Said board Of schoo
trustees shall keep a register Of al
j bonds issued under the provisions o
r this Act, and shall note therein the
number, date, amount and maturitl
of each. The auditor and treasurer
Of said county shall each keep a SINH
lar register. All of said bonds shall
, be designed by the chairman ant
clerk Of said trustees and counter
a signed by the treasurer and auditor
OF said county with the seal OF tn,
= said auditor impressed thereon; anC
shall have attached thereto coupons
I for the payment of each installmen
Of interest, which shall be numbered
and shall respectively express tn,
amount of interest due and wher
y payable, and shall be signed anG
b sealed in the same manner and b,
) the same officers as herein provided
for the signing and sealing Of sale
bonds.
Section 4. One half Of the prin
= cipal of such bonds as may be ISSUED
under authority Of this Act, shall b,
+. due and payable on the tenth day 0
, April, nineteen hundred and thirteel
: and the other half shall be due ant
payable on the tenth day OF April
nineteen hundred and twenty, an,
the whole thereof shall be paid at tn.
r office of the county treasurer OF sal,
! county.
Section 5, For the purpose o
providing for the payment Of tn.
s annual interest upon the bonds, is
a,,al ,,.Ia. al. A. -