The Roswell daily record. [volume] (Roswell, N.M.) 1903-current, 1905-11-14

These acts recognize the removal
of the four per CEN limitation of in
~debtedness for the purpose of issuing
bonds for sewer, waterworks and
street improvements, a. amended by
the Act of Congress March 4th, 1898,
and authorize for these special i'm
provements a bond issue n o to ex-
ceed fifty thousand dollars. The acts
without question apply to Roswell.
Subsection 81 of Section 24O2 c.
l.. 1897, gave cities and towns the
authority to issue bonds for sewer
system and waterworks but
limited them to a 4 per cent value
basis of the property within the cor
poration. The acts of 1899 and 1901
therefore gave mo additional power
of issuing such bonds, but did by
their terms fix an additional and new
limit, viz: fifty thousand dollars, for
these improvements, which the Act
of Congress of March 4th, 1898, men
ding the Springer Law recites shall
be excepted out of the 4 per cent
limit heretofore fixed by the Spring
| er Law.
The Acts of 1899 and 1901, in order
to allow these improvements as con-
templated by the Acts Of Congress
March 4, 1898, provided for a bond
issue of not to exceed fifty thousand
| dollarsy which must be construed as
being in excess of the four per e
limit.
The town of Roswell issued July
1, 1894, bonds amounting to $1,000 for
fire apparatus, and December 30,
1901, $4,000 to pay a judgment, the
town Heretofore having in 1901 a
bonded Indebtedness of $4,000. On
| October 10, 1901, the city, (then
town. issued under and by virtue OF
the Springer Law and it's amendment
and the Acts of 1899 and 1901 of the
Territory of New Mexico and in on
formity with them, sewer bonds in
| the sum of $35, 900.
With this statement of the matters
involved, l therefore conclude, and
am of the opinion:
1. That the limit of bonded indebt-
edness which the City of Roswell is
allowed to contract for sewer, water
works and street Improvement is
$50, 900 under Acts of 1901 and 1899,
which amount is to be construed in
excess of, over and above h amount
limited by the four per centum prop
erty valuation as fixed by Subsection
CT of Section 2402 of the Compiled
Laws of New Mexico, 1897; and that
the sewer bond issue of 1901 for
$35, 900, was made under and within
the $40, 900 limit for special improve
ments contemplated and named by
the amendment to the Springer Law
and authorized by Acts of 1901 and
1899 of New Mexico, and that bond
issue, is not to be accounted within
the four per cent limit fixed by Sub
section. 81 of Section 2402 C. L. 1897.
The City can Issue under the above
authority the remaining sum of
SIS, 900.
2. That the City of Roswell having
issued only $4,000 under the o ~ per
cent limit; or within the o per
cent of the last assessed valuation of
q IOPSINy III In nv AAA
its, viz: 4 per cent of ST. 200, 900, be-
ing the sum of $4,000, the City is
entitled and authorized to issue this
amount less $4,000, bonds already is
sued within this limit.
That under the assessed valuation
Of taxable property on above basis,
the City is by law authorized and
empowered under Subsection 81 of
Section 2402, c.. L. and Chapter 68 Of
the Session Laws of 1899 to issue
bonds for the construction of water
works in the sum of $4,000.
8. That the City can issue under
Acts Of the legislature of New Mexi-
co of 1899 n 1901, passed by virtue
of Act of Congress March 4th, 1898,
amendment to Springer Law the re
ing her $4,000 limit, and the sum of
s35. 900 under four per cent basis I'M
der this special provision, making in
all a total sum of $4,000 for the pur-
pose of constructing a waterworks
system, and you are so advised.
In conclusion l will state that
there is some question as regards the
construction to be placed Upon the
Acts of 1899 and 1901, and it may be
necessary before the bonds would be
adjudication of the question before
all uncertainty of the intent of the
legislature has been removed. Very