Deming graphic. (Deming, N.M.) 1903-1948, 1920-10-05
LEGAL NOTICES

said bonds ana shnl be- consecutively
numbered specifying the number OF the
bond 10 which they are attached ana
shall bear the Autographed or engraved
fac-simile Of the signature of the State
Treasurer In office at the time when
such bonds are prepared and printed.
and such coupons shall be- valid Obli-
cations of the state Notwithstanding
that the person whose signature APP
pears thereon may have ceased To he
such State Treasurer when such bonds
are issued and sold and said bonds
signed. cuuntersigned and attested Ms
In this act provided shall, when duly
issued and sold he valid obligations or
the State, although the issue and sale
thereof he made after the persons so
signing. countersigning and atteSting
the same shall have ceased 90 he the
incumhenis of their respective offices.
The bonds authorized by this act shall
be sold by the State Treasure at such
times and In such amounts aS the Gov
ernor shall direct Ia the highest bidder
for cash. The Governor shall issue such
directions to the State Treasurer upon
being requested 80 10 do by rcsolu-
tions of the State Highway Commas
sion specifying the amount OF money
which. In the Judgment of said Com
mission. shall he required from time to
time for the purposes for which such
Indebtedness is authorized Before Of
fcring any Of such bonds for sale the
State Treasurer shall detach therefrom
any coupons which may have maturcd
or will mature before the date fixed
for such sale. He shall publish n mo-
tice of the time and place of sale In
lone newspaper published in Santa Fe,
New Mexico. in one newspaper pub
lished at Albuquerque, New Mexico
and IN one newspaper published In
each Of'the cities Of New York, State
of New York. and Chicago, State of Ill
inois. once each week for four success
sive weeks prior 10 the date fixed foI
such sale: such date being not less
than thirty days after the first adyer
/ tisemcnt IN each OF said newspapers
such notice shall specify the amount
denomination. maturity and description
of the bonds To he sold and the place
day and hour at which sealed BIDS
will b. received for the purchase Oi
said bonds. At the place and tim,
named In said notice the said Stat,
Treasurer and the Governor, or in hi'
absence, the president or II member oI
the State Highway Commission shall
open all bids in public and shall aware
the bonds. or any part thereof. To III,
bidder or bidders offering the highcs
price therefor. They may reject amy
land all bids and may refuse to MAXI
any award unless satisfactory securit!
shall he furnished 10y bidder fo
compliance with the terms of the hid
Said sends shall be sold In consecutive
numerical order. and no bid shall III
accepted which Is less than the pa
value of such bonds plus the interes
which shall have accrued thereon he
tween the date last preceding mtereS
maturity date and the date Of the SAFE
The proceeds placed 10 the credit %
the State of the sale of such bond
shall he placed to the credit Of tn
State Road Fund, except such amour
rs may have been paid as accrued IN
tcrcst ON such bonds which shall III
credited to a special interest fund 70
payment Of interest on such bonds I'm
moneys placed in the State Road Fun'
from the proceeds 0f such bonds shal
hc used exclusively for the purpose
for which the said Indebtedness is an
thoriged. The expenses incurred 10y TN
Treasurer in the preparation of tn
said bonds and In advertising the sal
theeof shall be- paid out Of funds avail
able In the State Road Fund. The pro
ccd,ls realized from the sale of sat
bonds shall he paid out 10y the Stat
h. Treasurer under the authority and di
rection of the State Highway Commits
sion of the State of New Mexico, AM
the state Highway Commission Is here
hv authorized and directed to eNpent
the said proceeds from the sale of sat
bonds in the different counties of TIN
State of New Mexico in the conStruc
ton of roads in said counties. TN
amounts to be expended in the respec
tive counties in the State to be In pro
portion to the amount Of assessed valu'