Description
This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1901 edition. Excerpt: …at pleasure of the Territory at any time after ten years from their date, which shall be July first, 1901. Section 2. Said bonds shall be issued and negotiated under the direction of the Treasurer of the Territory and the proceeds thereof delivered to the Board oi’ Directors of the-New Mexico Insane Asylum, and by them shall be used in the erection, and equipment of suitable additional buildings on the grounds of said Asylum under the direction of said Board of Directors for the benefit of the Asylum. Provided, Ilower, er, Said bonds shall not be sold under their face value. Section 3. For the purpose o.f providing funds with which to meet the payment of tlhe said bonds and the interest thereon als the same accrues, it is hereby enacted; First, that all rents derived from the lands donated to said Insane Asylum by the act of Congress approved June the 21st, 1898, entitled, “An Act to make certain grants of land to the Territory of New Mexico, and for other purposes,” and which have been-hertofIore or may be hereafter set apart to said Insane Asylum under the provisions of said Act of. Congress, shall be appropriated rto the payment of the interest on said bonds as the same accrues, and said rentals shall not be used for any other purpose unless there should be a surplus of funds derived from said rentals remaining after the payment of said interest, in which event, said surplus shall become 2 part of a sinking fund to be used in paying said bonds wlhen due; and if said rentals shall at any time be insufiicient for payirg said interest when due, the auditor of public accounts of the Territory is hereby directed to levy annually a tax sufiicient to pay any such deficiency and for the purpose of enaibling the said levy to be…
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