The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1920-10-11
CuApTFR -

.st CHATTER l12
ANcE OF BONDS By ThE sTArK or
NEw MEXICO IN THE Sun or TWO
MILLION DOLLARS TO PROVIDE
FUNDS Tog TIE I.r coEsTR0cTIooNN
MlqHwAYA PkoyiD1Nu 4 TAX LEVY
FOR THE PAYMENT or INTEREST
AND PRINCIPAL OF SAID BONDS
AND ron OTHER PURPOSES.
Rnl No. 30 las ameuded)i
Approved March ~. 1919.
be u enacted BY the Legislature Of the
State Of New hexieog
Section i--Ror the purpose Of providing
tands for the construction and improve
nent Of State Highways and for meeting
a%liotmeuts Of Federal funds made TO the
state under the Act Of Congrcss known a.
the Federal Road Aid Act an Indebted
ness OF the State Of New Mexico Is hereby
authorized Ia the aum Of two million dollars.
Section 2-fmmediately after the issuing
Of the proclamation Of the Governor s'
State Treasurer shall prepare negotiable
coupon bonds u the State Of New Mexico
In tho denomination Of one thousand dollars
each, or F1ch smaller denomlnations not
less than ono hundred dollars each ns tho
uovernor shall determine, 10 DO numbered
consccutively and TO bear date January
LIST, 1891: said bonds ahall bear Interest al
She rate OF four per centum per annum.
payable semiannualiy. on the first day Of
year. and both principal and interoet shall
be payable IN gold coin or It's equivalent
ia lawful money Of the United States al
tho office Of the State Trensprcr In she
City Of Santa fe. New Mexico. or at some
bank IN the City OF Now IUrk, state Of
" York, or such other place as may b.,
Designated In said bonds and IN the cou.
pons attached thereto, at tho option Of ths
holder. The principal Of said / nds shall
DO payable to bearer thirty years after
Their da.e: and IL shall be provided in said
option Of the state at any time after Ten
yrafa from their date: said bonds shall he
signed by the Governor, nltested by the
Secretary OF State. under the seal Of the
Treasurer, ard shall be registered by the
5tGte Auditor in a book 10 be kept by him
Tor that purpose In which shall be entered
the date, number amount and series Il
each bond aold and the amount Tor which
tho sHme shall have been sold. The full
faith and credit OF the State Of New Mexico
Il hereby, pledged for tho prompt payment
~ maturity Of the principal and Interest
aud sold as provided In this act.
10 ahRu be provided In each bond "a
issued that u it shall be called for redemp.
ton before maturity notice thereof IN writ.
Lar shall be giyer by the stete Treasurer
10 the bank designated In tho bonds a. Tho
alternative place for payment, at least
thirty days before the date fixed FOR re.
demption, and In addition thereto notice
thereof shall he published by the State
Treasurer In . newspaper published IN
Santa fo, New MeIico, and also ia a news.
paper puhllshsd in the City Of New York,
State Of New York. onee each week for foui
successive weeks nent prior 10 the dsts
fixed for redemption and u any bond "a
called for redemption be not then presented
for payment Il shall cease TO hear interest
from and after the date 40 fixed for re,
Sseiion Entered coupons .payasls d
bearer shall be Attached 70 each u said
speeifyinS tue number Of the bond 10 Which
they are attached and shah bear the liiho'
Hraphed or engraved facsimile OF tho Alg
nature Of the State Treasurer IN offica al
the timo when such bonds arc prepared and
printed, and such coupons. shall be- valid
obligation Of tho state notwithsfnndin
that the person whose signature appear
thereon may have ceased TO be such Stat.
Treasurer when such bonds are issued and
sold and said bonds sigaed, eounteraigned
and attested as In this act proided thali
when duly issued and sold be valid obliFa'
tons Of tho State although the issue and
sale thereof be made after the persons SC
aigninE, countersiRLinR and atteHting the
same shall have ceased to be the incpm'
bcnts Of their reapsctiye offices. The
bonds authorized by this act shall be- sold
by the State Treasurer q; such times and Ia
such amounts as the Governor shall direct
10 the highest bidder for cash. The Cover.
nor snail issue such directions 10 the State
rrsasafSr upon being requested 40 to Dc
~ " NNf AAN AH NNNA'
mission specifying tho amount Of money
which In the judgment Of said Commission
shall be required from time TO time for thu
purposes for which sueh indebtsdncss 4,
authorised. Before offering any Of such
bonds for sails the state Treasurer shall
detaeh thercfrom any coupons which may
have Inatared or Will mature before tbs
date fixed for such sale. He shall publish
q notice Of the time and place Of sale In one
newspaper published In Santa Fe, New
Mexico, in one newspaper published at Al
buauerque, New Mexico, and one newspaper
Published In each Of the elites Of New
York. State Of New York, and Chicago,
State OF Illinois, once each week for four
successive weeks prior 20 the date fixed
for such aaiei such date being not less than
thiyiy days after the first advertisement In
each OF said newspapers; such notice shall
the amount denomination, maturity
and description Of the bonds TO be sold
and the place. day and'hour st which sealed
bids will be received for the purchase Of
said bonds. ~ the place and time named
Ia nid notice the laid State Treasurer and
.lhs Governor. or In his absence the presi.
dent or q member Of the State Highway
Commission shah open all bids In public
and shall award the bonds, or any part
thereof. TO tho bidder or blddcrs Offering
tha hiuherl mica thernfOr. Thav mny re-.