The Pioche weekly record. [volume] (Pioche, Nev.) 1906-1908, 1907-02-22
Our Bonded
Debt Bill.
introduced by Senator
Campbell.

Section l. The Board O
County Commissioners of Lincol
County, Nevada, by an affirma
tive vote of a majority Of tn
members thereo7 ~e hereby EN-
powered to fund and refund al
existing Indebtedness Of sal,
county which has accrued unde
an Act entitled AN Act to con
solidate and fund the indebted
ness Of Lincoln County, approv
ed February II, 1873; provided
that said Indebtedness can be re.
funded for an amount equal tc
slxty-hve per cent of the amount
OF said Indebtedness, principal
and interest computed to and
stated as of June l, 1907, and
said Board of County Commits
sloners of Lincoln County may
issue the negotiable bonds of
said county therefor, in denomina
tons of one thousand dollars
each, having not less than ten
years and not more than thirty
years to run, and bearing interest
at the rate of four per cent per
annum, payable semi-annually
Whenever bonds issued under
this section shall be duly execut-
ed, numbered consecutiyely and
sealed, they shall be delivered to
the County Treasurer and his
receipt taken therefor, and he
shall stand charged on his Of
fetal bond with all bonds deliver
ed to him and with the proceeds
thereof. The County Treasurer,
under the direction Of the Board
OF County Commissioners, may
exchange any of said bonds for
the satisfaction of the indebted
ness described in section one
hereof, outstanding on the date
when this Act becomes a law
lpon compliance with the terms |
md conditions of this Act, or he
hall, when directed by the
3oard of County Commissioners.
ell any portion of said bonds for
money at not less than the par
alue thereof, the proceeds of
uch saIe.o sales to be applied
Exclusively to the payment.
abstraction and discharge of the
ldebtedness of Lincoln County
'hlch has accrued under the
ct OF 1873 mentioned in section
ne hereof. {
Whenever any of the indebted
ess for which such bonds are /
ermitted to be issued, has been i
1T into final judgements or c
Ldgements, and whenever the t
gal owners or holders of such Q
-dgement or judgements are
lIling to accept in satisfaction
ereof sixty-fve per cent of the s
Mount of such judgement or v
dgements with interest and the u
SITS OF suit thereon, in the bonds o
'reby authorized, at the par c.
.lue the eof, then the Board of Il
'unty Commissioners are author 81
I'd and empowered to direct the q
'unty, Treasurer to deliver to the II
'ner or holder of such judge 7
ent or judgments, bonds of o.
e issue herein provided for. at m
e par value thereof to the Of
lount of sixty-five per cent of el
e amount of such judgement tc
judgements and interest, and &C
2 amount of said costs of suit. al
on receiving from the owner m
holder of such judgement or nj
igments a full and complete 10
lsfaction, discharge and nc
leelatlon of such judgement or sa
lgements and costs, which to
d satisfaction, when delivered ad
the County Treasurer. shall be en-
d IN the court in which such tn
cement or judgements were ne
dered and are entered, and a CO.
g copy thereof, certified to be pu
n by said County Treasurer. sol
II also be filed in the office of CIR
County Auditor of Lincoln tn
lnty. ad
my holder or holders Of any all
ID and subsisting indebtedness be
lincoln County, which accrued wa
Ter the terms of an Act entitl- ag
An Act: to. consolidate and ad
d the Indebtedness of Lincoln nv