The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1920-10-04

II each Of said counties thsll BE- drtermintd
by the said state Highway Commission from
the tex rolls Of said ~eountiet for the year
Of The state 'ak coinni,sion o. he State
Df Now Mexico for anid yesr.
Section ITO provide tor the payment
issued purausn, to Tie provisions Of ihis
act there shall be aud there l. hereby i'm.
posed and levied daring each year IN which
the said bonds shall be outstanding an
The State Of New Aerieo subject 10 tssa.
tion for state purposes sufficient 70 pro-
duce q sam equal 70 ono year : interest on
Zach year s,sr ssid B ssnas .hsii ssss ras
for five years, there shall be and there y
hereby Imposed aud levied on sn property
alton for state purposes, an annual nd
salorem tax sufficient TO pay the principa!
Of said bonds ~ maturity. The. taxes here
BY authorized, imposed snd levied shan b.
levied, assessed and collected In the same
manner as other taxes Tor state purpose.
aud Il shall be the duty Of tho State Auditor
and Of all ASSESSOR and local taxing au'
t~hotitle, 10 cause said taxes to be leyisd.
and At the same times a. other taxes fof
state purposes are levied, assessed and col
leeted.
section THE State Treasurer shall
keep separate accounts Of oil moneys col.
leeted under the iafes hereby levied snd
imposed for tue payment Of the Interest
aud siehing fund Of said bonds respectively
sud Ahali from tunr 70 time invest r.
OF Other securities issued by the State oil
New Mexico, or In any bonds or securities
of any county In said state, or In any bond
" any city or school district therein al
their market value, Provided. such bond,
or securities are payable from a tax upon
all taxable property IN sgeh county, city %
school districts and that all such bonds ol
securities 80 purchased shall mature beforl
the maturity Of the bonds for which sale
sinkiug fond is created.
section 6-Any holder Of any Of IN,
bonds issued pursuant to the provisions Of
this act and any peraon or officer being
party In interest may either At law OF "
equity. by suit. action or mandHinus en-
force aud compel the performance o. III
duties required by this act Of any. " IN
officers or persons herein mentioned.
Section 7-All bonds issued under tn
provisions Of this act shau be exempt froii
taxntion,
section s-The provisions Of this &c
shall constitute an irrepealable contract will
the holders OF any bonds and the coupon
thereof issued pursuant 10 the provisions o
this get for tho full performance Of whicl
authorities the full faith and credit OF III
State Of New Mexico is hereby pledged.
This act shall without reference to an,
other set Of the Legislature Of the State o
New Mexico be full authority for tho issu
anco aud sale Of the bonds hereby suihor
iaed, which bonds and the coupons theret
attached, shall have all the qualities O
negotiable paper under the law Of mel
chant aud shall not be invalid for any II
regularity or defect IN the proceedings 10
the issue ano sale thereof and shall be IN
c9htestsble Ia the hands Of bona fide puT
chasers or holders thereof for value.
Section e-rhis act shall be submitte
10 the qualified electors Of the state at III
general election 10 be held in the month Q
November In the year 1920. and Il shall b
the duty Of the Secretary Of the State &
cause this act TO be published In full In o
least one Newspaper In each county OF tn
state, II one be published therein. once eac
week for four successive weeks next pre-
ceding such election. All ballots used 9
said election shall have printed thereon N
words 'For State Highway bond Act, an
In q separate line under the same word
Against State Highway Bond Act" Or