Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1918-10-29

able semi-annually in gold coin, or its
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
principle of said bonds Shall be made
payable to the bearer in gold coin, or
its equivalent in lawful money Of the
United States thirty years after their
date, and it shall be provided by said
bonds that they may be redeemed at
the option of the state at any time
after ten years from their date. The
said bonds shall state when and where
payable, rate of interest. and when
and where the interest shall be pay,
able, and shall be signed by the Treas
urer and Governor. and shall be at
tested by the Secretary of State and
bear the seal of the state and shall be
known as the capitol Addition Build
ing Bonds" The faith and credit of
the state is hereby pledged for the
prompt payment of said bonds and
the interest thereon as herein provid-
ed If the state shall elect to exercise
its right 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 Treasurer. In newspaper pub
lished in Santa Fe, New Mexico, once
a week for four successive weeks next
prior to the date fixed for redemption,
and If a bond so called for redemp-
ton be not presented at the time re-
uuested it shall cease to bear interest
from and after the date so fixed for
redemption.
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 he
issued. 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,
inviting sealed proposals thereon at
q day and hour stated therein. which
said notice shall be published once a
paper published in the State of New
Mexico, and 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. 7. Seventy-five (75) of said
bonds shall bear date the 30th day of
November, 1918, and seventy-five (75)
of said bonds shall bear date the 3lst
day of May. 1919. and fifty 600 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 times and
in the amounts as specified in this
act, and the proceeds re2l!zed 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, furnish
ing. equipping and completing said
Capitol Building Addition.
Sec. s. 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 10 the state
which We're granted to the state by
Act of Congress. entitled "An Act 10
enable the people of New Mexico to
form Constitution and state govern
ment and be admitted into the Union
on an equal footing with tho orig!nal
states, approved June 2Gta. 1910"
For Legislative. Executive and Ju-
dicial public buildings, heretofore
erected in said Territory, or to bn
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
interest on said bonds, and to create a
sinking fund for payment of tho prin-
cipal thereof
Sec, 9. To provide for the payment
of the interest on the bonds issued
pursuant 10 this act there shall be
and there is hereby IMPOSED and lev
led during each vear 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 wears 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 a
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 be
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 be and there is hereby inn
posed and levied during each year
after any of said bonds shall have run