Carrizozo outlook. [volume] (Carrizozo, N.M.) 1910-1945, 1920-10-08

MENI OF lNFEItESl AND
PRINCIPAL or SAID BONDS
AND FOR OTHER PURPOSES.
Senate Committee Substitute Tor
Senate Bill No. SO, CAS- %amendcd):
Approved March ~ 1918.
BE IL enacted Boy The Legislature of
the state of New MeXicl:
Section l. For the purpose Of pro
viding funds Tor tine construction and
Improvement OF state highways ard
for meeting allottments of Federal
fluids made to the state under the Act
Of Congress known ms the Federal
Road Aid Act. " an indebtedness of the
State of New Mexico is hereby author
lied in the sum OF two million dollars
Section 2 Immediately after the
issuing Of the proclamation Of the
Governor M provided In Section 10 Of
this act the State Treasurer shall
preparc negotiable coupon bonds Of the
State of New Mexico in the denomina-
ions Of one thousand dollars each, or
smaller denominations not less than n
hundred dollars cuch as the Governor
shall determine, Ia be numbered con
secutivcly and 30 hcar date January LIST,
1910. said bonds shall benr interest at
at the rate of four per centum per am
um, PAYABLE scmi-nnnuHlly, on the frat
day Of July, and the frat day of Jnnu
airy cnch Year, and both the principal
and interest shall DE payable In gold
coin or its Equivalent 10 lawful money
OF The United Statcp M the office OF the
State Treasurer IN the City of Santa Fc,
New Mexico. or mt some bank IN the
City of New York. State Of New York,
or such other place MS may be desig-
mated In said bonds and In the coupons
attached thereto. at the option Of the
holder. The principal Of said bonds
shall be payable $40 bearer thirty years
after their date; and IL shall he provid-
ed in said bonds that they may ne re
deemed az the option Of the state Ht
any time after ten year from their date
said bonds shall bc 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 bv the Stnte
Auditor in n book to 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 nayment az the maturity OF
the principal and interest OF al, said
bonds which may be issued and sold
AS provided in this act
II shall be provided In each bond so
issued that IL IL shall be called Tor
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 10y 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 10 the date fixed for re
demption and 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 coupons payable
to bearer shsll be attached 10 each Of
said bonds and shall he 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
time when such bonds are prepared
and printed. and such coupon shall he
valid obligations Of tho state notwith
standing that the person whose sigma.
ture appears thereon may have ceased
10 be such State Treasurer when such
bonds are issued and sold aud said
bonds signed. cluuto signed and at
tested as in this act provided shall
when dul. issued and sold he valid
obligations of the State although the
issue and sale thereof be made after
the persons 30 signing. countersiPning
and attesting the same shall have ceased
20 he the incumhents Of their respective
Offices. Tive bonds authorized by this
act shall BE sold by the State Treas
urer a. such times and In such amounts
as the Governor shall direct 70 the
highest bidder for cash. The Govern
OF shall issue such directions 10 the
state Treasurer upon being requested
so 10 do by resolutions Of the State
Highway Commission specifying the
amount Of money which In the judg
ment " said Commission shall be re-
quired from time to time for the pur-
poses FOR which such indebtedness II
authorized. BEFORE Offering any of
such bonds for sale the the State Trea.
surer shall detach therefrom any cou-
pons which mas have maturcd or will
mature before the date fixed for srch
sale. lie shall publish = notice OF the
time and place Of sale in one news
paper published In Santa Fe, New Mex
co, in n newspaper published at Al