Albuquerque morning journal., 1910-11-22

I 1ilffFNl 10 ply Ailt lAiAfA'HN t.tAN' -
rIpal Of the bonds OF Series c, Is.
sued as provided in section thref
hereof The proceeds % rentals ano
sales Of said hand shall be kept IN q
separate fnnd and applied 10 the pay,
incnt OF the Interest and prlncipal oi
the bonds of Series G. Whenever
itlicre iS not sufficient money IN SAID
lund to meet tho interest and sinkine
fund requirements therefore, the de-
ficiency shall he paid ont of ans
funds OF the state not otherwise ap-
propriated. and shall be repaid 70 the
state or "a The several counties which
may have Furnished amy portion
thereof under general levy, out al
the proceeds subsequently received oi
lrentals and sales OF said lands.
Auv money received BY the state
rentple ana sales Of said lands in ex-
eees az the amounts reuultcd for the
nurposcs above mentioned shall be
raidiinto thr cnrrent ana permanent
school funds of the state respectively.
Soc h m. lc,,lslatlre shall never
hn,c, 49,. iaa. .tl1.asi,,,t any county.
~ t,yahln nronerfv
- o,.,p ~ ,,t,, i,a t,iiaottor "a nav to
~ i'Viii ~ p.'i1 n,.,,ondrd ne
| w $50 '."s "io'''f l,s.,,,..,,,i ,is,,
| in' Het.e ~ f''S.ii ~ ~ ..si'
OF PNNHehl ~ the "'"' =
lcouhlS'
see y. NO laW SNAIL ever pe p'tsseu
| w the legislature Validating Or lesti-
i2lue. directly or INDIRECTLY the
militia warrants alleged 10 bc OUT
standing against the territory OF New
| Mexico or any portion thereon; ana
no such warrant shall be prlina facie
on conclusive evidence OF the validity
Of the debt purporting to be cvi-
,dcnccd thereby 81 nv any other miijn
1
| M construed ae nutborlzinp any snit
! ngninat tho stata
| cor ,rha state may hor,o,v
| ,,ono,, no, avca.di,o tho s,,i,, ~ ,,vo
h,,,,dsod - e,,sa.,a 5.,,,ars II, ~ 80
,s,' pp',sr' " s'oues'.iu ,t'i ane,ait,.
saii. insao' :" 49, S"s'," ,, ao,,.,., ~.
l''tuIu III ,rtfiiut' ~, % w ~
"ApchSeS rue su'1c HlaE "iao v,n-
titS' ucp.s 70 suPpreSs l,isui 'io''
"n1 !" prosiae iof the pupiig ueiTilse.
sec. e' no debt' other thAh ihose
lSpcSiicN IN thf WeceulhS s"cLion
Ishali ne contracted pS or on pehalt OF
thlS state, unless auuhorlzeu ny Jaw
Ior some specliled WORK or opJect'
Nnleh Jaw shali provide lor an an
null lax leNN shfllcleht 10 pay lHe IN
tefest ana 10 provide sinklhE Iuild
10 pay tne prlnelpal OF such uepl WIFI
III MY wears from the tllhe OF the cor,
trucuhg thereot. no sucn law shall
tnke erect until 1t shali nave peeh
submitted 10 the qualifled eleetors OF
the state and nave received o MAJOR
|lly OF all the votes cast thereoh at
general election such law shall pe
published IN fun IN az least one news
paper IN each county OIL the stale. II
one be published therein once each
week, Tor tour successive weeks neNt
preceding such election. NO debt
shnli he SO created II tne lotal inoept-
|edness or the state exclusive OF the
debts OF the territory, ana the seVeral
counties thereof, assumed by the
state, would thefepy pe mace 10 eN,
.ceed one per centun OF the ussesseu
.Naluauon OF al inc property supJect
10 taxation IN the state as SHOWN py
the preceding general assessment.
sec. Y. ANY money porioW pS
the state, or any county, dlstrlet, or
municipality thereof, shall be applied
10 the purpose for which 1t was OBJ
tanned, or to repay such loan ana to
no other purpose whatever.
SEC. 10. No county shall Dorfow
money except Tor tne purpose or erect
ing necessary public buildings or con-
structng or repairing pupIic roaus
and bridges, and III such cases only
after the proposition to create such
DEBT snail nave ueen submitted 10 tle
qualified electors OF the county VINO
paid property tax therein during the
preceding year ana approved py
majority or those Young thereon. No
bonds issued Tor such purpose shaii
run Tor more thitn ility Years.
Sec. H. NO school distllct shal
borrow money, except lor the purpose
OF erecting anu FURNISHING Nchool
buildings or pltrchnsihB schooi sfounos
ana IN such cases only Wheh tne prop
nHiuon 70 create the uept shail nave
been submitted TO the quahlled elect
urs OF the district ana approved Dy
majority of those voting thereon, NO
school district shali ever become IN
debted IN an amount eNeeeulhB slN
per centum on the assessed NaluatloH
OF the taxable properly Wlthih slcp
school district, as shown bN the ere
ceding general assessment.
Sec. IL. No city. Town or village
shall contract any uept except ny an
ordinance which snail pc lrrepealanie
until the Indebtedness thereih proVld-
ed for shall have been fully paid or
discharged, and which shall specify
the purposes to which the tunds 10 pc
raised shall be applied, aud which
shall provide for the levy OF tax,
not exceeding twelve mills on the dol
lar upon all taxable property within
such city, town or village, sutilcient 20
pay the interest on, ana 70 eNtingulSh
the principal of, such debt, Nltnln
fifty years The proceeds of such tax
shan be applied Only 10 the payment
Of such interest and principal. No
such debt shall be created unless the
4. l.sa1f