Albuquerque morning journal., 1921-07-18
Page Five

! provided for shall have been fully
paid or discharged and which
shall specify for the purpose to
which the funds to be raised shall
/ be applied, and which shall pro-
( vide for the levy of tax, not exc
Ceediug twelve mills on the dollar
upon all taxable property within
such city. town or village, sufli-
cient to pay the interest on, and
to eXtinguish the principal of,
such debt within fifty years, The
proceeds of such tax shall be aD-
piled, only to the payment Of such
interest and principal. No such
debt shall be created unless the
questions OF mourning the same
shall, at regular election for
COunCilnen, aldermen or other Of
ficers Of such city. town or village,
or at a special election duly called
for that specific purpose. in the
same manner IS for a regular elec-
tiOn, have been submitted to n vote
Of such qualified electors thereof
as have paid a property tax there
in during the preceding year. and
a majority Of those voting on the
question. deposited in a separate
ballot box. shall have voted in
favor Of creating such debt"
NO. 10.
Joint resolution proposing an
amendment to Section 2 OF Ar
ticle X of the constitution of the
State of New Mexico, entitled
County and Municipal Corpora
tons"
Fl, ]. R. No. 40, Apr. March "A,
1921.
Be it enacted by the legislature
Of the State of New Mexico:
Section /. That Section Of Ar
ticle X of the constitution Of the
state of New Mexico entitled
County ana Municipal Corpora
tons" be and the same is hereby
amended so as to read as follows:
"Sec. 2. All county officers shall
be elected for a term of two years,
until otherwise provided by law,
and no county officer, except the
county school superintendent after
having served two consecutive
terms, shall be eligible to hold any
county office for two years there
after"
Nv
A Joint resolution providing for an
amendment to the constitution
of the state of New Mexico by
adding thereto another section to
Article *. the same to be NUNS
bered 1G.
II. J. r. No. 25. filed March %,
1921.
Be it resolved by the legislature
of the state Of New Mexico;
Section 1. That the following
amendment to Article TX of the
constitution OF the state of New
Mexico as an additional section Of
said Article TX, to be numbered
Section 16. is proposed. to be SUBJ
mttted to the electors of the state
at an election to be held.
Sec. 16. Laws enacted by the
fifth legislature authorizing the is
sue and sale of state highway
bonds for the purpose Of providing
funds for the construction and im-
provement Of state highways and
to enable the state to meet and Sc
cIrre allOtments of federal funds
to aid in construction and improve
ment of roads, and laws so enacted
authorizing the issue and sale OF
state highway debentures to antici-
pate the collection Of revenues
from motor vehicle licenses and
other revenues provided by
law for the state road fund,
shall take effect without SUBJ
hitting them to the electors Of the
state, and Notwithstanding that the
total Indebtedness of the state may
thereby temporarily exceed one per
centum OF the assessed valuation
of all property subject to taxation
in the state. Provided. that the
total amount of such state high
way bonds from proceeds OF taxes
levied on property outstanding at
any one time shall not exceed Two
million dollars. The legislature
shall not enact any law which will
decrease the amount of the annual
revenues pledged for the payment
of state highway debentures or
which will divert any of such reve-
nues to any other purpose so long
as any of the said debentures is
sued to anticipate the collection
thereof remain unpaid.
The following road bond act
will become effective at once If
proposed amendment No. II +
Continued on Page Six