Deming graphic. (Deming, N.M.) 1903-1948, 1920-10-05
CHATTER 112

CHAPTER 1T2
AN ACT PROVIDING FOR THE rs
SUANCE OF BONDS BY THE
STATE OF NEW MEXICO IN THE
SUN OF TWO MILLION DOL
LARS To PROVIDE FUNDS FOR
THE CONSTRUCTION AND. I'M
PROMINENT OF STATE HIGH
WAYS, PROVIDING A TAX LEVY
FOR THE PAYMENT OF INTER
EST AND PRINCIPAL OF SAID
BONDS AND FOR OTHER PUR-
POSES
Senate Committee Substitute for Sen
ate Bill No So las amendedl :
Approved March II. 1919.
BE II ennctcd by the Legislature Of
the State Of New Mexico:
Section For the purpose Of pro-
viding funds for the construction and
improvement NJ State Highways and
for meeting alloiments of Federal
j.. funds made To the state under the Act
Of Congress known as the Federal
Road Aid Act an Indebtedness Of the
State Of New Mexico Is hereby au-
thOrizcd IN the sum of two million dol
lars.
Section Immediately after the is
\ suing Of the proclamation of the Gov
lernor as provided In Section 10 of this
act. the State Treasurer shall prepare
negotiable coupon bonds of the State
of New Mexico In the denomination of
one thousand dollars each. or such
smaller denominations not less than
one hundred dollars each as the Gov
ernC- shall determine, 10 he numbered
+. cOnsecutively and to bear date Janu-
AIRY LIST, 1927 said bonds shall bear in
tcrest at ;de rate of four per centum
per annum. payable semi-amually, on
the first day Of July and the first day
OF january each year. and both prin
cipal and interest shall be payable IN
gold coin ar its equivalent In lawful
money of the United States az the OF
flee of the State Treasurer In the City
of Sante Fe, New Mexico. or at som,
hank In the City of New York, Stat,
Of New York, or such other place rs
may he designated In said bonds and
in the coupons attached thereto. at the
option Of the holder The principal ol
said bonds shall be- payable to bearer
thirty years after their date: and II
shall he provided in said bonds thai
they may he redeemed at the option OF
The state al any time after ten years
from their date; said bonds shall III
signed by he Governor, attested by The
Secretary of State under the seal 81
the state, and countersigned 10y the
State Treasurer, and shall he regis
tered by the State Auditor In BOOB
To he kept by him for that purpose ii
which shall he entered the date. mum
her amount and series of each bone
sold aud the amount for which IN,
same shall have been sold. The full
filth and credit of the State of New
Mexico Is hereby pledged for the
y prompt payment at maturity of thu
principal and interest of all the sac
bonds which may he issued ana sold N
provided in this act.
II shall he provided In each bond Sc
issued that II II shall be- called for re
demption before maturity notice there
of in writing shall he given 10y tn'
State Treasurer to the bank designat
ed In the bonds as the alternative place
for payment. at least thirty days no
fore the date fixed for redemption, ant
IN addition thereto notice thereof shall
he published by the State Treasurer
in Il newspaper published in Santa Fe
New Mexico, and also in newspaper
published in the City of New York
State Of New York. once each weci
for four successive weeks next prior e
the date fixed for redemption and i
any bond so called for redemption III
not then presented for payment i
shall cease to bear interest from an'
after the date so fixed for redemption
Section 3-Intercst coupons payable
to bearer shall be attached to each o