Deming graphic. (Deming, N.M.) 1903-1948, 1920-10-12
CHATTER 1I2

STATE OF NEW MEXICO IN THE
SUM OF TWO MILLION DOL
i LARS TO PROVIDE FUNDS FOR
THE CONSTRUCTION AND IN.
PROMINENT OF STATE HIGH
WAYS. PROVIDING A TAX LEVY
FOR THE PAYMENT OF INTER
Est AND PRINCIPAL OF SAID
BONDS AND FOR OTHER PUR-
POSES.
Senate Committee Substitute for Sen
ate Bill No. 80 (as amended:
Approved March II. 1919
Be il enacted 10y the Legislature of
the State Of New Mexico:
Section For the purpose Of pro-
viding funds for the construction and
Improvement of State Highways and
for meeting alOtments of Federal
klpds made 10 the state under the Act
Of Congress known rs the Federal
Road Aid Act" an Indebtedness Of thc
y State of New Mexico is hereby au-
thorized in the sum of two million dol
lars.
Section 2-Immediately after the is
Suing of the proclamation Of the Gov
efnOr ms provided in Section 10 Of this
act. the State Treasurer shall prepare
negotiable coupon bonds of the state
Of New Mexico In the denomination Of
. one thousand dollars each. or such
smaller denominations not less than
one hundred dollars each rs the Gov
ernOr shall determine, to he nun lbered
consecutively and to bear date Janu-
AIRY LIST, 1921 said bonds shall boar in
terest AT the rate of four per centum
per annum, payable semi-annunlly, on
the first day of July and the fir 81 day
of January each year, ana both. prin
cipal and interest shall he payable IN
gold coin or its equivalent In lawful
money of the United States M the or
flee Of the State Treasurer in tie City
of Sante Fe, New Mexico, or at som,
bank in the City of New York, Stat,
of New York or such other place a'
may be designated in said bonds an1
in the coupons attached thereto, at th'
option of the holder. The principal %
said bonds shall be payable To bearel
thirty years after their date ana l
shall be provided I'm said bonds tina
they may he redeemed at the option o
the state at any time after ten yeilr
from their date; said bonds shall b
signed by he Governor, attested by il
Secretary, of State. under the seal o
the state. and countersigned by tn
State Treasurer, and shall be reg II
tered by the state Auditor in DO u
IN he kent by him for that purpose Il
which shall be entered the date, nu o.
q her. amount and series of each no a
sold and the amount for which u
same shall have been sold. The n u
faith and credit of the State of NtN
Mexico Is hereby pledged for Ia
Srompt payment at maturity of IN
principal and interest of all the san
bonds which may he issued anu sold n
provided in this act
II shall be provided in each bond So
issued that IL IL shall be called for re
: demptiOn before maturity notice there
Of in writing shall he given 10y TN
State Treasurer to the bank designat
ed In the bonds as the alternative place
for payment. at least thirty days be
fore the date fixed for redemption, AM
In addition thereto notice thereon shal
he published by the State Treasure
in n newspaper published in Santa F'
New Mexico, and also in newspape
published in the City of New horf
State of New York, once each wee
for four successive weeks next PRIOR |
the date fixed for redemption ana
any bond so called for redemption b
moi then presented for payment,
shall cease to bear interest from an
after the date so fixed for redemption
Section 3-Interest coupons payaDl
In bearer shall be attached 10 each
snid bonds and shall be consccutlvel
numbered specifying the number of IL
hond 10 which they are attached an
shall. bear the Autographed or engraye
facsimile of the signature of the Sta'
Treasurer in office at the tiihe WIZ
such bonds are prepared ana prlh,e
and such coupons shall be vallu OBJ
CATIONS of the state, NEUTRALITY-SUSPICIOUS.
that the person whose signature a
penrs thereon may have ceased 10
such state Treasurer when such pom
are issued and sold; ana SAID Doh'
signed. countersigned ana attesteu
i'm this act provided shall, wheh uu
issued and sold be valid obligations
the state. although the issue ana 50
thereof be- made after the persons
signing, countersigning ana attestll
the same shall have ceased 10 De u
incumbents of their respective oftlc'
The bonds authorized by this act sh'
no sold bv the state Treasure at SUI
times and in such amounts as the Go
ernor shall direct to the highest Didd
for cash. The Governor shall issue su
directions TO the state Treasurer up
beIng requested SO to do by resol
tions of the state Highway Comm
sion specifying the amount OF mon
which. In the judgment OF said Co
mission. shall he required from time
time for the purposes for which su
Indebtedness is authorized. Before
feAng any of such bonds for sale
state Treasurer shall detach theref r
any coupons which may have mat ~
or will mature before the date i1'
for such sale. He shall publish z
lice of the time and place OF sale
me newspaper published In Santa
New Mexico, in one newspaper p
,tbed AT Albuquerque. New Mex
and in one newspaper publish ed
each Of the cities of New York 81