The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1920-10-18

~ nss ~ ssid herdl ~ he Different COW.
tits " he steve .tf-new Mtzlee 40 lhe con-
stiuctiou Of roads IN said counties, the
amouhss 70 70 expended in The respective
eounuft lu the state 10 be- 10 prnportion
70 90 siaoeni Of assessed sslpstIta each
q ssa eaessiss q Al NJ Br1et'y IN
cvpnues' aht the amount - soibo esh4nded
In fath % aid coneyse ahe.. be dfteilnlned
By ~ sid sssls Highway roumlifion from
Aipgu ~ thsy ahaIi be On he Ia ths offise
Of the state Tax oommisslon OF the sfats
u New Mexico for said year.
Section TO provide for tho payment
ssasNSf sae. az. so 60 Rk.'s pss sassHy so 81.
act lhefe stAl be nnd there n hereby i'm,
posed and levied DIVING each year ia which
nhhuei I'd valorem ifax on all properly In
tho dlete Of New Nerico kuhieu 10 iexa'
ton Tor STATE purpcag3 sufncickt 10 pro.
Ssini'' ( 'ssI a sS sUaas 70 sss yssss as 1slsTt'' 70
each yeer after .s,id bonds shan have run
for five yesff, thela shall be and there ID
hsr.el impestd cad levied on sn property
atlon for stete purposes, an annual ad
vnlorcn tax Aufficient 10 pay the principal
" said hoade At maturity. qhe tarea here.
Istisd1 sssesssd sna eoissisd IL ,hs' same
manner ~. other ihtes for STATE purpofea
end II shall be the duty Of the State Auditor
aud 81 oil assessors and local taxing av.
i%horfies 10 cause said tatss TO be levied,
assessed and collected in the same manner
aud ~ tie same timek - other taxes for
state purposes are levied, assessed and col
J. Section 5--The State Treasurer shall
Keep separate aeeounts Of all moneys col
lected under The taxes hereby levied and
Imposed for tne payment q the ~iuteresi
and sinking fund Of said boede respectively
and shall from time 10 time invest the
money! in said sinking fund In any bonds
9r other securities issued by the State Of
New MeSieo, Or in my bonds or securities
Of any county in said state, or in any bonds
Of any city or school district therein a.
their market value; Provided, such bonds
Or seeurities are payable from a FAX upon
school districts aud that all such bonds or
securities 40 purchased shnll mature before
the maturity Of tho bonds for which said
sinking fund N created.
seciion e--Any holder Of any Of Tie
honds issued pursunnt 10 the provisions Of
this act and ans person or officer being a
mriy' Ia interest may either al law or in
force and compel the performance Of tho
duties required by this act Of any Of the
Officers or persopN herein mentioned
Section i--Ali bonds iHsued under the
provisions OF this act shau be exempt from
taxation.
section s-The proyisIons Of this act
shall constitute an irrepealablo contract with
the holders Of any bonds and the coupons
this act for tho full performance Of which
by tho state aud. is officers aud taxing
authorities the full faith and credit Of the
state Of New. Mexico Is hereby pledged.
This act shall without reference 10 any
other act u the Legislature OF the State Of
New Mexico be- full authority for the issn'
nnce and sale Ct the bonds hereby author
ized, which bonds and the roupohs thereto
attached, shall have all the qualities Of
negotiable paper under the Law Of mer-
chRnt and shall mot be invalid for any h.
I feEulnFltH OF. defeat In. the ururRVdinua fnt
the issur aud sale thereof and shall be H.
eontealHble IN tho hands of bona fide pur
section s-Srhis act shall be submitted
to the. qualified electors Of the state AZ the
general election TO be held IN tho month 81
November ~ the year 1870. and II shall b
the duty OF the Secretary of the State "a
cause this act to be published In full in al
least one newspaper In each county pf tho
state, V one be published therein. once eAeh
week for four successive weeks next pre-
said %eleetlon shall have printed thereon the
words For Slate Highway bond Act, and
In n separate line under the same worda
Against State Highway Bond ACT" OPP
poalte each OF Aaid lines there shall be q
sauare In which the voter may mark n cross
to Indicate whether he votes for ior against
the said bond act and those voting for said
act shall do 40 BY placing a ctosa In the
square opposite the words For State High,
way Bond Act and those voting agninhi
the a shall do 40 by placing a cross ID
! lut n0uhif uppohlNt NOt Nnfuh hhdinht
l. stAte Highway bond Act, .a a
Suction io-The votes cast Tor and
against said bond act shall he counted, re-
turned, eanvassed Aqd the result declared
and certified in Tue same manner as Votes
cast for state. officers, and II x appears tlal
this act shall have received a n~aIority ol
An the votes east thereof, AZ eueh election,
thereof and ,heredpon this act shall imnir
diately take effect aud shall be itrepealAhlg
until the principal and interest q all bond,
satisfied. But H-n majority Of the vote,
east thereon at such election shall be against
this act. the sans shalt not take effert
The cost o. publication Of the notice hereif
provided for shall be paid out of fund.-
available In the State Road Fund. 81
Section 1l-That II Nv necessary for thu
preservation Of the public peace and safeiy
Of the inhabitants Of the Sthte Of New Mex
leo that the provisions Of this act shall
become effective az the earliest time, and
therefore an emergency Is hereby declared
to exist and this act shall take effect and
he in full force frou and after ia passaEs
and approval. ~
! OetA.if.1a.25