Carrizozo outlook. [volume] (Carrizozo, N.M.) 1910-1945, 1920-10-15

iMPRoVEMENT or STATE
TAX LEVY FOR THE PAY
MENT OF INTEREST AND
PRINCIPAL OF SAID BONDS
AND FOR. OTHER PURPOSES.
Senate Committee Substitute for
Senate Bill No. so, las amendodl:
Approved March II. 1919.
Be II enacted by the Legislature Of
the State Of New Mexico:
Section For the purpose of pro-
viding funds for the construction and
Improvement Of State Highways and
for meeting allottments OF Federal
fluids made 10 the state under the Act
Of Congress known as the Federal
Road Aid Act. " an indebtedness of the
State Of New Mexico Is hereby author
lied In the susn of two million dollars.
Section 2-Immediately after the
issuing Of the proclamation of the
Governor az provided In Section 10 Of
this act the State Treasurer shall
prepare negotiable coupon bonds of the
State Of New Mexico in the dcnomina-
ions Of one thousand dollars each, OF
smaller denominations not less than one
hundred dollars each as the Governor
shall determine, 60 be numbered con-
secutively and 10 bear date January LIST,
1910. said bonds shall bear interest Mt
ut the rate of four per centum per an
um. payable semi4nnnr y, on the first
day Of July. and the first day of Janu
AIRY each year., and both the principal
and interest shall b. payable In gold
coin or It's equivalent In lawful money
of the United States at the Office Of the
State Treasurer in the City OF Santa Fe,
N.ur AN.vt.. 90. ~ 40, hanl In the
City Of New York, State Of New York.
or such other place as may be desig-
mated in said bonds and In the coupons
attached thereto, at the option of the
holder. The Principal Of said bonds
shall be payable to bearer thirty years
after their date; and II shall be provid-
ed in said bonds that they may he re
deemed at the option Of the state at
any time after ten year from their date
said bonds shall be signed by the Gov
ernor, attested by the Secretary of state
under the seal Of the state and
countersigned by the State Treasurer,
and shall be registered by the state
Au litor in n book TO be kept by bin
for that purpose in which shalt be en-
tered the date, number. amount and
series of each bond sold and the amount
for which The same shall have been sold.
Tho full faith and Credit of the State
of New Mexico Is hereby pledged for
prompt payment at the maturity Of
the pr ncipal and interest of all said
bonds which may be issued and sold
as provided in this act.
II shall be provided In each bond so
issued that II II shall be called for
redemption before maturity notice
thereof in writing shall be given by
the State Treasurer to the bank des'
ignated In the bonds as the alterna-
tive place for payment, at least thirty
davs before the date for redemption,
and in addition thereto nt''e thereof
shall he published by l. State Trea-
sursr in a newspaper published in
Santa Fe, New Mexico, and also a
new paper published In the City OF
New York, State of New York. once
each week for four successive weeks
next prior TO the date fixed for re
demption and II any bond so called for
redemption be not then presented for
payment. II shall cease TO hear inter
est from and after the date so fixed
for redemption.
Section 3-lnterest coupons payable
to bearer shsll be attached TO each u
said bonds and shall he cnnsecutively
numbered specifying the number OF
the bond TO which they are attached
and shall bear the Autographed or en-
graved facsimile of the signature OF
the State Treasurer in Office NJ the
time when such bonds are, prepared
and printed. and such coupons shall be
valid obligations of the state nOtwith
standing that the person whose sigma.
ture appears thereon may have ceased
10 be such State Treasurer when such
bonds are issued and sold and said
bonds signed. cOuntersigned and at
tested az In this act provided shall
when duly issued and sold be valid
obligations of the State although the
issue and sale thereof be made after
the persons 20 signing, countersiRninp
and attesting the same shall have ceased
10 be the incnmhents Of their respective
Offices. The bonds Authorized Nv this
net shall he sold by the state Treas
urcr nt such times and In such amounts
as the Governor shall direct 20 III,
HIGHEST bidder for sash. The Govern
or shall issue such directions 20 the
State Treasurer upon being REQUISITE,
~ 10 do hv resolutions Of the STATE
Highway Commission specifying The
amount of money which IN the iudg
ment of said Commission shall be re-
quired from time 30 time for the pur
poses for which such Indebtedness II
authorized. Before Offering n %
such bonds for sale the the State Urea
surer shall letach therefrom any cou.
pons which may have matured or vii
mature before the date fixed for sucl
sale. We shall publish a notice Of th'
time and place o. sale IN M ncws
paner published In Santa Fe. New Mex
leo. Ia one Newspaper published at Al.