The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1920-07-29

shall cause the whole Of the unpaid prin.
cipsi 70 become due and payable Immediately
cipal aud accrued interest shall thereafter
draw interest at the rate Of one per centum
Ter inonth or fraction Of a month until the
Jay OF sac, but at any time prior 10 tho
day Of sale the owner may pay the smount
Of all unpaid installments With interest ~
one per centun per month or fraction Of q
month. and all penalties accrued, and shall
theroupon be restored TO the right thereafter
to pay In ilHit limenta In the same manner
as II default had not been suffered. The
any i~nstallment Or payment may, at any
time. pay ,hn whole Of the unpaid principal,
WITH i%nterest .a,cruing TO the maturity Of
Payments Of the whole assessment may bc
made to tho City Treasurer OF any time
withln thirty, Gays after this ordinance be-
per centum viii be made on all such ph5-
ments during rueh period only.
Section Z. The amounts assessed as aiore.
said shall be n lien upon said lots and par.
owner or owners thereof, from the time Of
such assessments. IL shall be the duty Of
he City Clerk, within thirty days here
seal Of the city. and liz for r'' rssor G" IN ,hs
OF ee Of the county clerk Of Bernallllo
County, a claim Of lien for the amount due
and assessed against each lot and parcel
Of Land. Us above specified, and all pur.
e%hasers, mortgages and incumbrancers Of
said lots, and parcels Of land shall take the
when delinquent. shall hsse he effect Of 4
mortgage. ana may be foreclosed in tho
manner now provided by statute or as may
Of moitgageI on real estate When said
assessments ar thu installments Of such and
Tho interest thereon have been paid IN full.
10 shall be the duty Of the Cfiy Clerk 10
release and discharge the said lien and liza.
bility.
Section 5. To evidence the liability Of the
sad owners, and their property. for pay.
the City. Commission shall have power and
u shall be Its duty. to Issue or cause to be
issued, to the n psso Bituliihie Company.
or rs s's,sns, n the name Of the CITY as
accurately describing the property covered
~ each assessment and naming The owner
9a ssid property. This said S.slTnsble GER
Stallments, the first bsing due and payable
one year after this ordinance becomes 81.
f%ective and one being due and payable each
year thereafter until all Of said instsllments
are fully paid. Tho said certificates shah
bear interest at the rate Of six (6) per
esnism per annum. payable on tho first day
IN each year. Said asslgnable certificates
shall be signed by the Chairman OF The civ
Computation and ex'officio Mayor Of the City
o. Albuquerque, countersigned by the City
Treasurer, and sealed with the seal Of the
City. and, aitested by the City CLERK, aud
shall be ~ ne form prescribed by. the ordl.
the street improvements heretofore com.
ploted and accepted.
Section q. The said aasignable certificates
shall be delivered to the ri Paso Bitulithic
Us contract with the City and the proceed
ings OF the City Commission heretofore or
hereafter adopted. The said III Paso Btu.
the. right and privilege Of exchanging tho
said asSignable certificates for paving bonds
y convenient denominations, to be issued by
the CITY pursuant 10 Ordinance No. ID.
adopted and approved by the City Commits.
sion on the 18th day Of November. 1919.
Upon such exchange, II shall he the duty
Of the said aEsignAble certificates, to re.
eeiyc and ~disbnrse all payments made, to
endorse on each certificate the amounts
snS TO i release p snd S Ri.nSSs,Psa s sRs l ii%n'r ssS
liability upon payment OF the full amount
due as Aforesaid, AZ In accordance with the
ordinances OF the City and any other provi.
sions that have been or may be required by
the City Commission.
Section Z. An ordinances or resolutions,
or parts thereof, In conflict with the proVi.
After said asslgnable certificates are issued.
this ordinance shall be and remain irrepeal.
able until said certificates and the interest
tnereon shali De fully paid, satisfied and dis
charged as herein provided.
Section 8. This ordinance Is hereby de.
clared TO be an emergency measure on tho
gronnd Of urgen. public need, and therefore.
mmsaIs'ely upon Iis final pssssge, shall be
City kept for that purpose, authenticated BY
ne signatures Of the Chairman Of The City
Commission and. ex'offclo Mayor, and the
city Clerk, shall be published in the Albu.
querqne Evening Herald. the official news.
paper 81 said City and shall be In full force
and effect five t6l days after such publ.
cation.
Passed. adopted, signed and approved
this 2sih day Of July, 1910.
J. r, McLAUGHIIN,
~e""s Vhs.Insn; NY Commission and
Attest; ADD1E W. MekvOY,
tseaD City Clerk.