Albuquerque evening herald. [volume] (Albuquerque, New Mexico) 1911-1914, 1912-05-23

h'A W ditBN INV WfiiH 10 fuNa y
. limiting the powers Of the gov .
. erncr 9
ee~eaN~eSs @o0~ :
Especial Telegram 60 Evening EseraId)
Santa re. n. n May 23-The
four senate mcasures by Mr. Holt
provide a complete program for the
financing. construction. maintenance
ana administration of the state and
county highway systems OF New Mex
leo. The four bills provide for tho
issuance of bonds in the sum or half
million BY the state; the issuance
Of county bonds: the taxation OF auto
mobiles and the hin for state and
county highway commissions, whose
powers are derintsiy outlined ana
who are TO cooperate for the good Of
the hiEhways
Mr. Hollis bin providing for the
issuance OF bonds by the state OF New
Mexico for the purpose Of construct
ing and maintaining a system OF
state higbwayH" authorizes the state
to incur an Indebtedness OF half a
million dollars. These bonds are TO
be Of $4,000 each, dated January l.,
1914, bearing four per cent interest
ana payable In blocks OF twenty from
January ]. 1919 on the first OF each
year until 1913 Expenses incurred
by the state treasurer in the prepar-
alton and advertising Of the sale Of
these bonds shall be paid by the state
Highway commission. Interest shall
be payable on the bonds on the first
day OF each July and January follow
ing their sale. The proceeds ~ the
sale Of the bonds Is TO be placed In a
state road fund for the construction
and maintenance ~ a system OF state
highways. A state highway sinisng
fund is 20 be maintained from the
road fund and when there IL an Insult
ficient amount In the road fund 20
pay the principal and interest on the
bonds a special levy shall be made
to provide FOR the payment OF the said
principal and interest as the same be-
come due and payable"
Section 2 of the bill provides that
the act shall be submitted 70 the peo-
pie OF the state for their ratification
az the general election ia November
1914.
The county bond bill authorizes the
several boards OF county commission
ers TO issue bonds for the cOnstruc-
tion and repair OF roads and bridges"
Ia the respective counties 20 an
amount, which Including the existing
Indebtedness Of the counties. shall not
exceed four per cent ~ the value of
the taxable property Of the county
The bonds are 20 he issued Ia amount
10 be determined BY the county come
misslonerH in denominations OF &10o
or some multiple thereof. bearing ins
terost az rate rot ia exceed five
per cent payable semi-annunlly; the
bonds 20 become due In q period Of
not exceeding thirty years but ra-
doemabie prior 20 their date OF ma
turity az may De provided by the
commissioners.
Whenever there shall be filed with
the board OF county commissioners .
petition signed BY not less than ten
Per centum OF the qualified electors in
any county who are taxpayers, asking
for the issuance Of Bonds for road pur-
poses IN a certain amount. the COM
mlssionera shall call a special election
on the proposed hond issue and n a
majority votes for the bonds the com.
missi0nerB are thereby authorized 20
proceed 90 their Issuance. No road
bond election shall be held Ia any
county oftenor thsn once year
There shall be whatever additional
taxes are necessary collected 20 pay
the principal and interest OF the
bonds, these collections 10 be placed
IN the general fund and transferred
AZ necessary 40 the interest fund and
county highwny sinking fund.
The bin providing for state auto
mobile license prohibits We malnton-
ance or operation 81 an auto in the
atate without such state license, the
Ncenee Zee % be $40 per year and the
proceeds 20 be credited 90 tho alate
road fund. There viii also be- an ad.
ditlonni foe of 81 for each license and
20 cents Tor each renewed. The num-
her on an auto tag la 90 ~ prlma
faie evidence that u ~ tue property
oi the person 20 whom tho license
hearinN that number WAS issued. The