Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1918-10-15


this act provided. shall sell the same
to the highest and best bidder. for
cash, upon sealed bids, at not less
than par and accrued interest. Notice
of such proposed sale shall be given
by the State Treasurer. by publication,
inviting sealed proposals thereon at
day and hour stated therein. which
said notice shall be published once a
week for three weeks in some news
paper published in the State of New
Mexico, and a like notice published in
some financial journal in the City of
New York; the last insertion of such
notice shall be made not less than
seven days before such date so fixed
for such sale.
Sec. T. Seventy-five (75) of said
bonds shall bear date the goth day of
November, 1918, and seventy-five (75)
of said bonds shall bear date the 31st
day of May. 1919. and fifty (5O) of
said bonds shall bear date December
3lst, 1919 All of said bonds shall be
sold at the same time and shall be
issued and delivered at the times and
in the amounts as specified in this
act, and the proceeds realized from
the sale of said bonds shall he turned
over to the state Treasurer to be kept
purpose of the construction. furnish
ing, equipping and completing said
Capitol Building Addition.
Sec. 8. That to pay the interest on
said bonds as it shall become due, the
state Auditor and the State Treasurer
shall transfer to the interest fund,
which shall be used exclusively for
such purpose, all the income derived
! from lands belonging to the state
which were granted to the state by
| Act of Congress, entitled "An Act to
enable the people of New Mexico to
form a Constitution and state govern
ment and be admitted into the Union
| on an equal footing with the original
states. approved June goth. 1910"
For Legislative. Executive and Ju
dicial public buildings, heretofore
erected in said Territory, or to be
| hereafter erected in the proposed
states, and for the payment of the
! bonds heretofore or hereafter issued
| therefor which said income shall be
applied toward the liquidation of the
J interest on said bonds, and to create
| sinking fund for payment of the prin-
cipal thereof,
| Sec. 8. To provide for the payment
| of the interest on the bonds issued
! pursuant TO this act there shall he
! and there is hereby imposed and lev
| led during each year any Of said bonds
| shall be outstanding on all property in
| the state subject to taxation for state
! purposes, an annual tax sufficient to
| produce a sum equal to one years in
| terest on all such bonds then out
standing, less the amount in the state
| treasury received by way of income,
| from the land belonging to the state
granted by Act of Congress as stated
! in Section hereof; and to provide
| sinking fund for the payment of the
| principal of said bonds the State
! Treasurer shall retain and use for
such purpose all the proceeds de-
rived from the sale of the land so
| granted to the state for the purpose
| in this act stated, which said pro-
'ceeds, or so much thereof as may he
necessary, shall be applied exclusively
| towards the payment of the principal
| of the bonds authorized by this act;
and to further provide for a sinking
| fund for the redemption of said bonds
there shall he and there is hereby i'm
| posed and levied during each year
after any of said bonds shall have run
| for ten years after the date thereof,
during each year any said bonds are
outstanding an annual tax on all
property in the state subject to taxa
ton for state purposes. sufficient in
addition to moneys derived from the
sale of said lands and held for such
purpose, to pay the principal of the
said bonds at maturity
Sec. ! O. That the taxes for the pay
ment of the interest and ultimate re-
| demption and payment of said bonds,
shall be levied and collected at the
l.car iIfoo nd in ha COZ ma mn or &c
other taxes are levied and collected
in the state for other purposes, which
| funds provided for the redemption of
said bonds shall be kept separate in
a fund for that purpose by the State
Treasurer.
l. Sec II. The said Canitol Building
Addition shall be not less than two
stories high. not. less than one hun
bred and fifty feet long and seventy
five feet wide. and shall be erected at
| the south end of the present Capitol
building. and not more than fifty feet
distant therefrom, and shall be SO ar
ranged that the light in the second
story of the present Capitol Building
shall not be shut off. and such addi-
ton shall be so arranged that it may
| be heated from the heating plant SUD
plying the present Capitol Building
!
with the present Capitol Building on
| the ground floor by passageway
properly constructed, according to the
plans and specifications of the archi-
| tect, and said addition shall be as
near fireproof as 1t is possible to make
| it, and when completed shall be occu-
pied by the State Library, State SUI
preme Court and all offices connected
Herewith, and the Attorney General.
Sec. ~. The said commission shall
have full power and authority to do
any and all acts deemed necessary
and proper in and about the construc-
ton of said building. the determine
ton, and adoption of plans therefor
and the arrangement thereof, and
shall draw its voucher in the proper
form for the payment of all indebted
ness contracted in and about said
work and building on the State Audi
tor, and the State Auditor shall draw.
his warrant on the State Treasurer for
the payment, and the State Treasurer
shall pay the same on presentation
thereof out of the funds realized from
the sale of said bonds hereby author
lied
Sec. 10. The members of such COM
mission shall qualify by taking the
oath required by other state officers
and shall hold their offices until the