CHAP. XLVI.—An Act authorizing a Loan on the faith and credit of the State, to pay the Indebtedness of the State, and of the Territory of Nevada, assumed by the State, and not already fully provided for. [Approved February 26, 1866.] The People of the State of Nevada, represented in Senate and and sale of SECTION 1. By virtue of the power granted to the Legisla- Issusance ture by the third section of article nine and by the seventh bonds section of article seventeen of the Constitution of this State, authorized. and for the purpose of paying, at an early day, the bonds of this State issued under "An Act authorizing the issuance and sale of certain State bonds, and levying a tax to provide means for the payment thereof," approved January 19, 1866, amounting to two hundred thousand dollars; to replace in the State Treasury the sum of eighty-two thousand five hundred dollars, heretofore paid by the State on account of Territorial indebtedness, and any further amount which may be paid before the negotiation of the loan authorized by this Act is completed; to take up and retire such bouds, or other evidences of indebtedness of the late Territory of Nevada, not paid by the State, or provided for by "An Act to provide for carrying out, in part, the provisions of section seven, article seventeen, of the Constitution of the State of Nevada," approved February 14, 1865, and "An Act supplemental to an Act to provide for carrying out, in part, the provisions of section seven, article seventeen, of the Constitution of the State of Nevada, approved February fourteenth, one thousand eight hundred and sixty-five," approved March 8, 1865, and to pay the floating indebtedness incurred under an Act to encourage enlistments and provide extra pay for our volunteer soldiers called into the service of the United States, a loan, not exceeding five hundred thousand dollars ($500,000), is hereby authorized to be negotiated, on the faith and credit of the State, to be paid within ten years; said loan to bear interest not exceeding, in the aggregate, ten per cent. per annum, from the date of the issuance of the bonds, on the amount actually realized from the sale of said bonds, payable semi-annually, either in the cities of New York or San Francisco, or at the State Treasurer's office, at the. option of the party or parties to whom such bonds are issued; provided, that, if it shall be deemed advisable, bonds may be Proviso. issued for said loan payable in such installments as the Treasurer may think most advantageous to the State. SEC. 2. The State Treasurer shall cause the bonds to be pre- Bonds, how pared, that are to be issued for the payment of the loan author- issued. ized by this Act, which bonds shall be signed by the Governor, countersigned by the Controller, and endorsed by the Treasurer, and authenticated with the Great Seal of the State of Nevada. SEC. 3. Coupons for the interest shall be attached to each bond, so that the coupon may be removed without injury or Coupons. Bonds, to be sold and redeemed in coin. State interest, and Sinking set apart. mutilation to the bond. Said coupons, consecutively numbered, shall be signed by the Treasurer of State, and it shall be his duty to advertise in one or more papers published in the State of Nevada, and one or more papers published in the cities of New York and San Francisco, at least twenty days immediately preceding the day on which the same shall be due, stating at what place, or house, the said interest will be paid. SEC. 4. No bonds, issued and sold under the provisions of this Act, shall be sold for any currency except gold and silver coin of the United States, and for the payment of said bonds, both principal and interest, in gold and silver coin of the United States, the faith and credit of the State is solemnly pledged. SEC. 5. After the negotiation and sale of the bonds, provided for in this Act, it shall be the duty of the State Treasurer to set apart a fund for the purpose of paying the principal and interest of said bonds, when they shall become due, which fund shall be called the State Interest and Sinking Fund, into which fund shall be paid: First-One fourth of the entire revenue received into the General Fund of the State, from property taxes, poll taxes, and sales of stamps, after such negoti[a]tion and sale in the fiscal year ending December 31, 1866. Second -There shall be levied and collected, for the fiscal year commencing January first, in the year of our Lord one thousand eight hundred and sixty-seven, and annually thereafter, until all the bonds issued and sold under the provisions of this Act, shall have been fully paid, both principal and interest, an ad valorem tax of thirty-five cents on each one hundred dollars valuation of the taxable property of this State, which shall be paid into and constitute the Interest and Sinking Fund, in this section provided; and the revenue derived from said tax is hereby set apart, appropriated and pledged, as well as the faith and credit of the State of Nevada, for and to the payment, both principal and interest, of all bonds of said State issued in pursuance of the provisions of this Act. No part of the revenue derived from the tax herein before levied shall be paid out, or in any way diverted from the State Treasury, for any other purpose than paying or retiring the bonds, both and interest. principal and interest, issued pursuant to the provisions of this Act. Revenue, not to be diverted from payment of principal Treasurer make ar for the payment of interest. SEC. 6. It shall be the duty of the Treasurer of this State required to to make certain arrangements for the payment of the interest rangements on the said bonds, when the same falls due, at least sixty days before the time of payment; and, in the event that said Interest and Sinking Fund, as herein before provided, is insufficient, the said Treasurer shall draw on the General Fund for such purpose; and, in the event that those Funds prove inadequate, the said Treasurer is authorized and required to make such contracts and arrangements as may be necessary for the payment of said interest, and the protection of the faith of the State. Sealed SEC. 7. The Treasurer shall publish a notice in one or more daily papers, published in the cities of New York and San Francisco, inviting sealed proposals for the purchase of said bonds. The notice shall state the time and place of receiving bids, the amount of bonds to be disposed of, and where the Notice. money is to be paid and the bonds delivered, and that bids will be received for the whole, or any part of the amount; that bids made for a greater discount than fifteen cents on the par value of the bonds, or for a higher rate of interest than ten per cent. per annum, on the amount actually to be realized from such bid, will not be received; and that the payment for the same must be made in the gold and silver coin of the United States; provided, that no bid shall be accepted, nor any of such bonds Proviso. shall be sold by the Treasurer, at a greater discount than fifteen cents on the par value thereof, or at a higher rate of interest than ten per cent. per annum, on the amount actually to be realized from said bid; the rate of interest on the par value of the bonds shall be expressed in the bonds when sold, and shall be fixed so that the amount of interest paid annually shall not exceed ten per cent. on the amount actually realized from such sale. and notice of SEC. 8. At the time specified in the notice for bids, the Bids opened Treasurer shall proceed to open them, and shall accept such as acceptance. propose to purchase the said bond on the terms most favorable to the State. Upon the acceptance of any bid, the Treasurer shall forthwith notify the bidder thereof, and require him to deposit, to the credit of the Treasurer, at the office of the Bank of California, in San Francisco, the amount of purchase money, in gold and silver coin of the United States, within thirty days after the date of such notification of the acceptance of such bids; and upon the payment of such purchase money by the bidder, or his agent, the Treasurer shall deliver, or cause to be delivered, to him, the bonds so purchased, bearing date corresponding with the date of the acceptance of said bids or proposals. The Treasurer shall transmit to the Legislature, Report. with his annual report, copies of all bids received by him, in pursuance of the terms of this Act. record to be kept. bonds. SEC. 9. It shall be the duty of the Treasurer and Controller Separate of State, each, to keep a separate record of all such bonds as may be issued, showing the number, date, amount, and rate of interest of each bond, and to whom the same was issued. No bond shall be issued for a less sum than one thousand dollars. SEC. 10. Whenever, at the time of paying the semi-annual Proposals for interest on the bonds provided to be issued by this Act, there surrender of shall remain a surplus, after the payment of such interest, over and above the amount which it may be necessary to reserve for the payment of the next ensuing semi-annual interest, of ten thousand dollars or more, in the fund created in the fifth section of this Act, it shall be the duty of the State Treasurer Advertiseto advertise in one or more daily newspapers published in the State of Nevada, and in each of the cities of New York and San Francisco, for sealed proposals for the surrender of bonds issued under this Act. He shall state in such advertisement the amount of money on hand, applicable to the redemption of such bonds; and he shall accept such proposals at rates not ex- Proposals to ceeding par value, as may redeem the greatest number of bonds, until the cash on hand, for redemption, is exhausted. If there shall be no bids for the surrender of bonds presented ment. be accepted. money to be invested. When to, or received by, the State Treasurer, as provided in this section, it shall be his duty, by and with the advice and consent of the Governor and Controller, to invest the money on hand in said Interest and Sinking Fund, for the redemption of said bonds, in the gold bearing bonds of the United States, which bonds, with the interest thereon, shall remain in said Interest and Sinking Fund until it becomes necessary to dispose of them to meet the principal or interest of the bonds provided to be issued by this Act. Treasurer required to keep full SEC. 11. Full and particular account shall be kept by the Treasurer, of all transactions in regard to the issuance, sale account of and redemption of said bonds, and of the condition of the all transac tions. Appropriations. funds collected in accordance with the provisions of this Act, open at all times to the inspection of the Governor and Controller, and of any Committee appointed by the Legislature, or either branch thereof. SEC. 12. The sum of two thousand dollars, or so much thereof as may be necessary, is hereby appropriated out of any moneys in the Treasury, not otherwise appropriated, to pay the expense of selling said bonds; and the further sum of three thousand dollars is hereby appropriated out of any moneys not otherwise appropriated, to pay the expense of procuring said bonds, and placing the proceeds of their sale in the State Treasury; and the Controller is hereby authorized and required to draw his warrant in favor of the Treasurer for such amount. County boundaries authorized to be surveyed. Duty of Same. CHAP. XLVII.—An Act authorizing the Survey and Establishment of Boundaries between the Several Counties of this State. [Approved February 26, 1866.] The People of the State of Nevada, represented in Senate and SECTION 1. The County Commissioners, of the several counties of this State, are hereby authorized and required to have made an accurate survey of the boundaries between the several counties within this State, in which the same have not been established according to law; and said survey shall be commenced within six months after the passage of this Act. And the Commissioners of the counties adjoining, are required to arrange for the making of such survey, and notify the County Surveyors of their respective counties thereof. It shall be the duty of the County Surveyors, of the several counties where the boundaries have not been established by survey, to meet at such time and place as the County Commissioners of the said counties shall designate, and proceed to survey the boundary lines between the same. SEC. 3. If the Surveyor or Surveyors of any county or counties shall fail to meet the Surveyor or Surveyors of the county or counties adjoining, at the time and place designated by the County Commissioners, the Surveyor or Surveyors of the county or counties, who may be present, shall proceed to make the survey, and the same shall be the established boundaries between such counties. SEC. 4. The County Surveyors, of the several counties where Reports and such boundaries are surveyed, are hereby required to make out mane to be a report and maps of the same, one copy to be deposited with the County Clerk of said counties, as aforesaid, and a joint copy of the counties adjoining to be transmitted to the Secretary of State. SEC. 5. The expenses of such surveys shall be borne jointly Expenses. by the several counties, pro rata, according to the number of miles surveyed on the line of each county. tion. SEC. 6. The Boards of the County Commissioners, of the Compensacounties on the line of which such surveys shall be so made, are hereby authorized and empowered to allow reasonable and proper compensation and all necessary expenses incurred in making the surveys, as aforesaid, and upon such allowance the County Auditor, of such counties respectively, is hereby directed to draw his warrant on the County Treasurer therefor, in favor of the party or parties entitled to the same. construed. SEC. 7. Nothing in the provisions of this Act shall be con- Act, how strued so as to compel or enforce the Board of County Commissioners, of the several counties of this State, to have any county line or lines surveyed and established, except where such county lines or line is now, or may hereafter be, in dispute by reason of the settlement of persons and the ownership of property along such county line or lines. CHAP. XLVIII.-An Act to create the County of Lincoln and provide for its organization. [Approved February 26, 1866.] The People of the State of Nevada, represented in Senate and created. SECTION 1. All that portion of the State of Nevada within Lincoln the following boundaries shall be the county of Lincoln, viz: Beginning at the intersection of the thirty-ninth degree of longitude west from Washington, with the thirty-eighth parallel of north latitude; thence east to the State line of this State; thence south along said line to the southerly boundary line of this State; thence along said southerly boundary line to its intersection with the thirty-ninth degree of longitude west from Washington; thence north along said thirty-ninth degree of longitude to the place of beginning; and said boundaries shall be construed to contain any addition which may hereafter be made to this State on the east, south of said thirty-eighth |