Las Vegas optic. (East Las Vegas, N.M.) 1908-1921, 1909-03-30
Law PROVIDES SCHOOL FUND
INTEREST ON MONEY DERIVED
TO BE USED FoR EpqcA
TIoNAL PuRPosEs
PLAN FOR MANUAL TRAINING
PORTION OF MONEY CAN BE USED
FOR FOUNDING SCHOOL OF
THIS NATURE.

FOR the benefit Of the many Las
yegans who are not aware Of the
provisions of the act passed by the
recent Legislature providing for the
management of the Las Vegas grant,
| the law is here reprinted complete.
It limits the term of office of the
members of the board of trustees to
two years, the appointments to ter
inmate on the 1stsof July, limits the
number to not less than three or more
than five, and provides for the ap-
lpointment of the board by the district
court.
The law provides for the invest
ment of the money, that it shall be
placed in interest-bearing bonds, is
sued by the territory of New Mexico
or some county, and that this invest
ment shall constitute "a permanent
school fund, and further provides that
| if at any time in the Judgment of the
Judge it becomes expedient, the whole
or part of the interest may be ap-
piled to the maintenance of an indus
trial manual training school for boys
end girls, which school shall be To-
Gated in the town of Las Vegas.
All interest received by the terri
tcrial treasurer from these bonds is
TO be turned over to the county
treasurer and apportioned among the
school districts existing within the
exterior boundaries of the grant,
The compensation of the members
of the board shall not exceed $500 a
year.
| The board is to make, execute and
deliver deeds of conveyance, free of
cost, except for surveys. plating the
same and other necessary expenses to
all persons making application who
have held sufficient lands within the
grant in actual possession for a per-
Eiod of not less than ten years, for 100
acres of land. The law in full is as
follows:
Be it enacted by the legislative as
sembly of the territory of New Mexi-
CO.
Section l. The terms of office of
all persons appointed as members Of
the board of trustees of the town Of
Las Vegas, and now serving as such
in conformity with an act entitled IAN
act to provide for the management or
1.-THE Las Vegas grant and for other
purposes" being chapter AZ of the.
flaws of the year 1903, or whose APP
pcintment was ratified and confirmed
by the said act, shall terminate on
the first day of July, 1909; and on
said date, each two years thereafter,
1.-THE district court of San Miguel coun-
Ity, New Mexico, shall appoint board
lof trustees to have the control and
management of the tract of land
known as the Las Vegas land grant,
to be known and designated as the
beard of trustees of the town of Las
Vegas and said board in and by said
name may sue and be sued, and shall
hold their office for a term Of two.
years, and until their successors are
Appointed and qualified. And which
said board shall consist of not less
than three nor more than five per-
sons. to q appointed from among. res
idents on the land embraced within
the exterior boundaries of said Las
Vegas grant; and It shall be the duty
} of said board when SO appointed to
Immediately organize BY selecting
from among its members president,
a vice-president and treasurer of
said board and to employ suitable
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