Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1920-11-23
City LEGAL Notice
COMMISSION ORDiNANCE No. s

An Ordinance Providing for the
Issuance of Paving Bonds by the
City of Albuquerque. New Mex
leo, to be Exchanged for a Like
Amount of Assignable Certifi-
Gates Which Have Been or VIII
BE Issued to the Contractor
Constructing Street and Alley
improvements in Said City.
Whereas, The City of Albuquer-
que, in the County of Bernalillo
and State of New Mexico, has
heretofore taken proceedings for
the paving and improving of GER
tain streets and alleys in said city,
all in accordance with the statutes
providing therefor. and.
Whereas, In response to the no.
tice to contractors to submit bids
for the furnishing of materials and
the performance of work necessary
for the construction of said i'm
provements, proposition was sub
mitted to the city by the New
Mexico Construction Co, Inc, I'M
der which the said company agreed
to accept eight per centum bonds
in convenient denominations at par,
Oll Illt pllttS III tiltll IA
posal for furnishing material and
performing the work, PROVIDED,
that the city would agree to make
all collections of principal and in
terest on all the assignable certif-
icates issued. and to pay such
principal and interest to such bank
as might be designated by said
company on the day and date due;
and,
Whereas, Upon due and careful
consideration of said proposition,
the City Commission found and de-
termined that it would be greatly
to the profit and advantage of the
city, and to the property owners
to be assessed for said improve
ments, to accept the said PROPOSE
ton for the reasons that the said
improvements could be constructed
at a smaller cost to the property
owners that the said property
owners would have a definite time
and place for the payment of their
assessments and the installments
thereof, that such a plan would
provide for one central collecting
and disbursing agency and that the
city and the said property owners
thereof would receive more for
marketable. bonds issued in con-
venient denominations than for
assignable certificates issued in odd
denominations; and.
Whereas, On the 29th day of
September. 1920. and on the eth
da. If October, 1920. the city by
reso itions accented the proposals
of the said New Mexico Construc-
tion Co., Inc, and on the End day
of October. 1920. the 9th day of
october, 1920, and the 9th day of
October, 1920. the city entered into
contracts with said company for
the construction of said improve
ments in compliance with their
proposals and the considerations
therein and herein mentioned.
Now, Therefore. In consideration
o. all the matters and things herein
mentioned and heretofore done and
performed,
Be 1t Ordained by the City Com
mission of the City of Albuquerque:
Section l. That all of the pro
ceedings heretofore had. taken,
done or performed in connection
with the street improvements de-
scribed and ordered by the resolu-
tons OF September 29th and Octo-
Der 27th. 1920. be and the same
are hereby in all respects ratified,
approved and confirmed.
Section 2. That the City of AL
querque be and it is hereby author
lied and empowered to receive,
collect and enforce the payment OF
III the assessments. made for the