New Mexico state record. (Santa Fe, N.M.) 1914-19??, 1918-10-25

dition to the Capitol Building, there
Is hereby authorised and created
bonded Indebtedness Of the State Of
New Mexico in the sum Of two hun
dred thousand ($200,000) dollars, and
there shall be issued two hundred
(2O0) bonds of the denomination o.
one thousand 81. 000) dollars each
Said bonds shall bear interest at thu
rate of four and one-half per cent pei
annum. which said interest shall bt
payable semi-annually in gold coin. OF
it's equivalent in lawful money of the
United States, on the first day of July
and the first day of January of each
year at the office of the State Treas
urer of the State Of New Mexico. The
principal of said bonds shall be made
payable to the bearer in gold coin, Of
1t s%equivalent in lawful money OF the
United States, thirty years after theil
date, and 1t shall be provided by said
bonds that they may be redeemable al
the option of the state at any time at
ter ten years from their date. The said
bonds shall state when and where pay.
able, rate of interest, and when and
where the interest shall be payable
and shall be. signed by the Treasurer
and Governor, and shall be attested by
the Secretary of State and bear the
seal OF the state and shall be known as
the capitol Addition Building Bonds
The faith and credit of the state is
hereby pledged for the prompt pay.
ment of said bonds, and the interest
thereon as herein provided. If the
cfofo cho11 o1onf IN n~AroSco to- -Srh&
to redeem any Of said bonds after ten
years from their date, and in advance
of maturity, notice thereof shall be
given by publication by the State
Treasure a newspaper published
in Santa r Mexico, ono a week
for four SUI. 'slve weeks next prior
to the date fixed for redemption, and
IL a bond so called for redemption be
not presented at the time requested
it shall cas- to bear interest from
and after the date so fixed for re-
demption.
Sec. s. Interest coupons shall be
attached to the said bonds and the
said coupons shall be ~consecutively
numbered and shall specify the num-
Der of the bond to which they are at
tached, and shall be attested by the
autographed or engraved facsimile
signature of the State Treasurer.
Sec. 6. The State Treasurer, when
the bonds authorized by this act to be
issue, shall have been signed, coun-
tersigned, endorsed and sealed as in
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, in.
viting sealed proposals thereon, at a
day and hour stated herein, 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; Ale last insertion of such
notice shall be made not less than
seven days before such date so fixed
for such sale.
Sec. 7. Seventy-five (75) of said
bonds shall bear date the Both day Of
November, 1918, and seventy five (75)
of said bonds shall bear date the 31st
day of May, 1913, and fifty (50) of said
bonds shall bear date December 31st,
1919. All of said bonds shall be sold
at the same time and shall be issued
and delivered at the time and in the
amounts as specified in this act, and
the proceeds realized from the sale of
said bonds shall be turned over to the
State Treasurer to be kept by him in
a separate fund for the purpose of the
construction, furnishing, equipping and
completing said Capitol Building Ad-
dition.
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 ran Act
to enable the people of New Mexico
to form a Constitution and state gov
eminent and be admitted into the
Union on an equal footing with the
original states, approved June goth,
$780, For Legislative, Executive and
Judicial public buildings heretofore
erected in said Territory, or to be
hereafter erected in the proposed
state, and for the payment of the
n heretofore or hereafter issued
therefor" which said income shall be
applied toward the liquidation of the
interest on said bonds, and to create
a 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 be
there is hereby imposed and lev.
red 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 10 one years in
ierest on an such bonds then out
SJahdine, less the amount in the state
treasury received by way OF income.
from the land belonging to the state
&ran;ed by Act oi Congress as :tated
in Section s hereof, and to provide a
sinking fund for the payment % the
principal Of said bonds the State
I reasurer shall retain and use for
such purpose all of the proceeds de
rived from the sale of the land 30
granted to the state for the purpose
in this act stated, which said pro-
ceeds, or SO much thereof as may lie
necessary, shall be applied exclusive
ly towards the payment of the prlnci-
of the bonds authorized for a sink
ing fund for the redemption of said
bonds there shall be and there is here
by imposed and levied during each
year after any of said bonds shall
have run for ten years after date