Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1916-03-15
LEGAL NOTICE.


BE it resolved by the city council
Of the city of Albuquerque:
That at an election to be held at the
same time ana places as the regular
election for city officers of the city
lof Albuquerque, is to be held on the
4th day of April, 1916, there shall he
submitted to a vote Of such qualified
electors thereof as have paid a prop
erty tax therein during the preced-
ing year, the question of issuing bonds
for the purpose of securing funds for
the construction or purchase of a sys-
item for supplying water to the city of
Albuquerque and the inhabitants
thereof, as provided by Ordinance No.
$40, which said ordinance is in words
and figures following, toWt.
AN ordinance authorizing the issue
of $500 100000 of bonds of the city of
Albuquerque, or so much or such part
thereof as may be necessary to provide
funds for the construction or purchase
Of a water system for supplying water
to the city Of Albuquerque.
BE it ordained by the city council
of the city OF Albuquerque:
sec. !, There shall be issued nego-
table bonds of the city of Albuquer-
que to the amount of $500, 100000, or
so much or such part thereof as may
be necessary for the purpose of secur-
ing funds for the construction or pur-
chase of system for supplying water
to the city of Albuquerque and its in
habitants. Such bonds shall be issued
! n denominations of 10000 or any
multiple thereof and shall bear inter-
est at rate not to exceed per cent
per annum, payable semi-annually.
and shall become due and payable 45
years from their date and at such
place or places within or without the
state as the city council shall deter
mine, and shall provide that the city
council shall have the right to pay any
or all of such bonds at any time after
twenty coo years from their date,
That such bonds shall he sold at not
less than par and accrued interest to
date of delivery, for cash only, 10 the
highest and best bidder, after publ
cation of notice of such sale as pro-
lvided by law.
Sec .. There shall be levied in
leach year hereafter, until the principal
.of said bonds shall be fully paid, a
lspecial tax upon all the taxable prop
lerty of the city of Albuquerque neces-
lsary to pay the interest on said bonds,
under the terms hereof, and the pro-
lceeds derived from the said special
tax shall be used for no other purpose
than the payment of interest accruing
upon the said bonds.
Sec At the end of five years af-
ter the date Of issue Of said bonds and
each year thereafter until the said
bonds are fully paid, there shall be
levied a special tax upon all of the
taxable property of the city of Albu-
Iquerque sufficient. with other funds on
hand and available for that purpose
amount of said bonds for the purpose
of providing sinking fund for the
payment thereof, and the proceeds of
said special tax shall be used for no
other purpose than the payment of
said bonds"
That notice Of the time and place
OF holding such election and the pur-
poses for which such bonds are to be
issued shall be published in the Albu-
qucrque Morning Journal, newspa-
per of general circulation, at least once
each week for four consecutive weeks
prior to said election, as
provided by law. The ballots cast at
such election on such question shall
have printed thereon the words; For
water works bond issue" or Against
water works bond issue" and such
ballots shall be of uniform size and
color.
Approved.
d. II. BOATRIGHT, Mayor.
THOG HIrGHFS CITY Clerk.