Carrizozo outlook. [volume] (Carrizozo, N.M.) 1910-1945, 1920-10-01

TAX LEVY FOR THE PAY
MENT OF INTEREST AND
PRINCIPAL OF SAID BONDS
AND FOR !OTHER PURPOSES.
Senate Committee Substitute for
Benate Bill No. so. Gas amendsd):
Approved March n, 1919.
BE II enacted by the Legislature OF
the State Of New Mexico:
Section l-For the purpose Of pro-
viding funds for the construction and
Improvement Of State Highways and
for meeting allotment Of Federal
fluids made to the state under the Act
Of Congress known as the Federal
Road Aid Act. F" an Indebtedness OF the
State OF New Mexico IL hereby author
lied in the sum Of two million dollars.
Section 2--Immsdiately after the
issuing Of the proclamation Of the
Governor as provided In Section 10 of
this act the State Treasurer shall
prepare negotiable coupon bonds of the
State Of New Mexico in the denomina-
ions Of one thousand dollars each, or
smaller denominations not less than one
hundred dollars each as the Governor
shall determine, 10 be numbered con-
secutively and 10 bear date January lst,
1910, said bonds shall bear interest at
at the rate Of four per centum per n
um. payable s~emi-annually, on the first
day Of July, and the first day Of Janu-
AIRY each year, and both the principal
and interest shall be 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,
New Mexico, or at some bank In the
City Of lew York, State Of New York,
or such other place as may be desig-
mated In said bonds and in the coupons
atticned 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 be re-
deemed at the option Of the state at
any time after ten years 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
Auditor In n book 10 be kept by him
for that purpose in which shall be en-
tered the date, number. amount and
series of each bond sold and the amount
for which the same shall have been sold.
The full faith and Credit Of the State
Of New Mexico Is hereby pledged for
prompt payment at the maturity OF
the principal and interest of all said
bonds which may be issued and sold
m provided In this act.
II shall be provided In each bond 80
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
DAYS before the date for redemption,
and in addition thereto notice thereof
shall be published by the State Trea-
surer In a newspaper published In
Santa Fe. New Mexico, and also a
newspaper 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 aa. II any bond so called for
redemption be not then presented for
payment, II shall cease To bear inter
est from and after the date so fixed
for redemption.
Section 3-Interest DUPONT payable
10 bearer shall be attached to each Of
said bonds and shall be c~onsecutively
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 at the
llTlt WUtn SUCH JULIUS hTt
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 he 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 80 signing, countersigning
and attesting the same shall have ceased
10 be the incumbents Of their respective
offices. The bonds Authorized by this
act shall be sold by the State Treas
urer at such times and In such amounts
az the Governor shall direct 10 the
highest bidder for cash. The Govern
or shall issue such directions 20 the
1tate Treasurer upon being requested
10 20 do by 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 10 time for the pur-
poses for which such indebtedness IL
authorized. Before offering any OF
such bonds for sale the the State Urea
surer shall detach therefrom any cou
pons which may have matured or will
mature before the date fixed for such
sale. he shall publish a notice Of the
time and nlace Of sale In one news
p per published IN Santa Fe, New Mex
co, In % newspaper published at Al