Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1922-07-20

EXofficio Mayor,
Attest:
IDA V. MALONE. City Clerk.
COMMISSION ORDINANCE
No. 1872.
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 Will
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 hereto
fore taken proceedings for the paw
ing and improving of certain
streets and alleys in said city, all
in accordance with the statutes
providing therefor; AMI
Whereas, in response to the no.
tice to contractors to submit bids
for the furnishing of materials
and the performance of work nee
essary for the construction of said
improvements, a proposition was
submitted to the city by the New
Mexico Construction Company,
Inc, under which the said COM
pany agreed to accept seven per
centum bonds in convenient de-
nominations at par, on the prices
named in their proposal for fur
nishing material and performing
the work, provided. that the city
would agree to make all collections
OF principal and interest on all the
assignable certificates issued. and
to pay such principal and interest
to such bank as might be desig-
mated by said company on the day
and date due; and
Whereas, upon due and careful
consideration Of said proposition,
the CITY Commission found and
determined that it would be great
ly to the profit and advantage Of
the city, and to the property own
ers to be assessed for said i'm
provements, to accept the said
proposition for the reasons that the
said improvements could be con-
structed at a smaller cost to the
property owners. that the said
property owners would have defi-
mite time and place for the pay
ment of their assessments and the
installments thereof. that such q
plan would provide for one central
collecting and disbursing agency,
and that the city and the said prop
erty owners thereof would receive
more for marketable bonds issued
in convenient denominations than
for assignable certificates issued in
odd denominations; and
Whereas, on the fifteenth day OF
March, A. ID. 1922. the city by res
olution accepted the proposal of
the said New Mexico Construction
Company, Inc. and on the thir-
teenth day of July, A. D. 1922. en-
tered into q contract with said
company for the construction of
said improvements in compliance
with their proposal and the con-
therein and herein
Now, therefore. in consideration
of all the matters and things here
in mentioned and heretofore done
and performed,
Be 1t Ordained by the City Com
mission of the City of Albuquer-
que:
Section 1. That all of the pro-
ceedings heretofore had, taken,
done or performed in connection
with the street improvements de-
scribed and ordered by resolution
on the fourteenth day Of Decem-
Der, A. d. 1921, be and the same
are hereby in all respects ratified,
and confirmed.
Sec. 2. That the city Of Albu-
orized and empowered to receive,
collect and enforce the payment of
all the assessments made for the
said improvements and all INSTALL
ments thereof and all interest
thereon, in the same manner and
at the same time or times as the
owner or owners of the assignable
certificates issued to pay the cost
of said improvements might re-
ceive. collect or enforce the said
and to pay and disburse
such payments. the installments
thereof and the interest thereon.
to any person or persons lawfully
entitled thereto.
Sec. 8. That the Treasurer of
the city of Albuquerque be and he
is hereby authorized and empow-
cred, and 1t shall be his duty to re-
ceive and collect all assessments
levied to pay the costs of said i'm
provements, the installments there
of and the interest thereon. at the
times and in the manner heretofore
specified, and to pay and disburse
such payments to the person or
persons lawfully entitled to receive
the same, in accordance with the
laws of the state of New Mexico
and all ordinances and resolutions
of said city heretofore and hereby
All moneys received shall
be placed in a separate fund to be
designated Paving Fund" and
shall be used for the purpose of
paying the principal and the in
terest on the paving bonds herein
after mentioned. and for no other
purpose whatsoever.
Sec. 4, That if the owner Of any
parcel of land assessed for the said
shall be delinquent
in the payment of any assessment,
or interest due. 1t shall
be the duty of the City Treasurer
to notify such owner in writing
that such delinquency exists. and
that, if the amount due is not paid
within - days after the date OF
the said notice. the matter will be
referred to the city attorney for
collection and foreclosure.
Sec. s. If the payment or pay
ments due as specified in the next
preceding section is or are not paid
within the stated time it shall be
the duty of the City Treasurer to
refer the matter to the city attor-
ney, whose duty it shall be to en-
force and collect the amount due,
together with all costs and penal
ties, by foreclosure. or in any mani
ner which is now or which may be
provided by law.
Sec. 6. If any property shall be
offered for sale for the nonpay-
ment of any assessment. INSTALL
ment thereof or interest thereon,
and no person or persons shall bid