Form of bond Form of bond full faith, credit, resources and all the taxable property of said county are hereby irrevocably pledged. This bond is one of a series of fifty bonds of like date, tenor and amount issued by said county, by and through its board of county commissioners, for the purpose of raising funds with which to create a fund to purchase a site for a county high school, in and for said county, situated in the city of Ely, therein, and the erection thereon, furnishing and equipment of a building for such school, under, by virtue of and in full and strict compliance with the constitution of the State of Nevada, and an act of the legislature of said state passed at its twenty-sixth session, entitled "An act to amend an act entitled 'An act to provide for a county high school in the city of Ely, Nevada, for the purchase of a site and the erection, furnishing and equipment of a building for such school, for the issuance and payment of bonds for the creation of a fund for the purchase of such site, the erection, furnishing and equipment of such building and the establishing and maintaining of such school,'" approved February 8, 1913, as amended by an act entitled "An act to amend section five of an act entitled 'An act to provide for a county high school in the city of Ely, Nevada, for the purchase of a site and the erection, furnishing and equipment of a building for such school, for the issuance and payment of bonds for the creation of a fund for the purchase of such site, the erection, furnishing and equipment of such building and the establishing and maintaining of such school,'" approved February 28, 1913; and to provide for a county high school in and for White Pine County, State of Nevada, situated in the city of Ely, in said county and state; for the establishment and maintenance of such school; for the purchase of a site therefor in said city, and the erection thereon, furnishing and equipment of a building for such school; for the issuance and sale, by the board of county commissioners, of said county of fifty thousand dollars county high school site and building six per cent bonds of said county for the purpose of raising funds with which to create a fund to purchase such site and erect thereon, furnish and equip such building; for the levy and collection of a direct annual ad valorem tax on all the taxable property of said county including the net proceeds of mines, in addition to all other taxes, sufficient to pay the interest on and the principal of said bonds promptly when and as the same become due; and for the repeal of all acts or parts of acts in conflict herewith," approved March...., A. D. 1913, and all other laws and authority thereunto enabling. And it is hereby certified, recited and warranted that said county is duly organized, existing and operating as a body politic and corporate under and by virtue of the laws of the State of Nevada and the board of county commissioners thereof is the duly constituted corporate authority of said county; that all things, acts and conditions required by the constitu tion and laws of the said state to exist and to happen and be done and performed precedent to and in the issuance of this bond, and every other bond of the series of which it forms a part, in order to constitute the same the valid and binding obligations of said county, do exist and have happened and been done and performed in regular and due form and time; that the total indebtedness of said county, including this bond and the other bonds of said series, do not exceed any constitutional or statutory limitation; and that due provision has been made for the levy and collection of a direct annual ad valorem tax on all the taxable property of said county including the net proceeds of mines, in addition to all other taxes, sufficient to pay the interest accruing hereon as the same falls due and also discharge the principal hereof at maturity. This bond is redeemable on any interest payment date after January first, A. D. 19, at the option of said county by giving thirty days' previous written notice of its intention to exercise said option to redeem to the said National Bank of Commerce and to the original purchaser of this bond. In witness whereof, the said county of White Pine, by its board of county commissioners, has caused this bond to be signed by its chairman, attested by its clerk, sealed with its seal, and countersigned by the county treasurer; and each of the interest coupons hereto attached to be signed by the engraved fac simile signatures of the said chairman, clerk, and treasurer, as of the first day of January, A. D. 1913. (Seal) The County of White Pine, in the State of Nevada, For value received, will pay to the bearer hereof the sum of thirty dollars in gold coin of the United States of America, of or equal to the present standard of weight and fineness, at the National Bank of Commerce, in the city and State of New York, U. S. A., being six months' interest then due on its county high school site and building bond, dated January 1, A. D. 1913. No.--- Chairman, Board of County Commissioners. Clerk. County Treasurer. coupon signed by Section 3. Each of said bonds shall be signed by the chair- Bonds man of the board of county commissioners, attested by its clerk, officers of sealed with its seal, which seal shall be impressed thereon, and county countersigned by the county treasurer; and each of the semiannual interest coupons attached to each of said bonds shall be signed by the engraved fac simile signatures of the said chairman, clerk and treasurer; and the officers in this section mentioned shall forthwith cause the said bonds and coupons interest to be prepared in substantially the forms, respectively, hereinabove set out, and to execute the same for and on behalf of said county as and in the manner aforesaid; and when said bonds and coupons shall have been so executed their legality shall not be opened to contest by said county or by any person or corporation for or in its behalf for any reason whatsoever. Section 4. The interest falling due on July 1, A. D. 1913, Payments of except as hereinabove provided, on said bonds shall, by the county treasurer, be paid out of the general county fund; and for the purpose of providing the necessary funds to reimburse said general fund for the amount so borrowed from it, and to pay the interest accruing on said bonds subsequent to July 1, A. D. 1913, promptly when and as the same falls due, and also to constitute and maintain a sinking fund for the discharge of the principal thereof prior to or at maturity, there shall be and there hereby is levied upon all the taxable property in said county, including the net proceeds of mines, in addition to all other taxes, the following direct annual ad valorem tax, to wit: In the year 1913, a direct annual tax sufficient to meet the interest on such bonds. Taxes for interest on bonds Fund for payment of interest on bonds In each of the years 1914 to 1927, inclusive, a direct annual tax sufficient to produce the net sum of $3,000 in each year, being for interest. In the year 1928, a direct annual tax sufficient to produce the net sum of $1,500, being for interest. In each of the years 1918 to 1927, inclusive, a direct annual tax sufficient to produce the net sum of $5,000 in each year, being for principal. And the said tax for interest shall be paid over to the county treasurer to be kept by him in a separate fund hereby created to be known as and designated "County High School Site and Building Bonds, dated January 1, 1913, Interest Fund, which shall be irrevocably pledged to and used solely for the payment of the interest accruing on said bonds so long as any of said bonds or the interest coupons thereto appertaining remain outstanding and unpaid; and the said tax for principal shall be paid over to the county treasurer to be kept by him in a separate fund hereby created to be known as and designated Sinking fund "County High School Site and Building Bonds, dated January 1, 1913, Sinking Fund, which shall be irrevocably pledged to and used solely in the payment, redemption and cancelation of said bonds in the manner in this act hereinafter provided; and for greater certainty the board of county commissioners shall in each of said years 1913 to 1928, inclusive, include the respective interest and sinking fund taxes hereinabove levied for such years in the annual estimate for said county for such year; and the said taxes shall in each of said years be certified, extended upon the tax rolls and collected by the same officers in the same manner and at the same time as the taxes for general county and state purposes for such years are certified, extended and collected; provided, always, that as fast as the exercise said bonds are redeemed and paid by use of the said sinking fund, the interest tax provided for herein, shall by the board of county commissioners thereafter be diminished proportionately and according to the amount of bonds so redeemed and paid. Section 5. Whenever the amount of said sinking fund cre- County may ated under the provisions of the preceding section, shall equal option of the principal amount of any of said bonds then subject under redemption. the pleasure or option of said county to be paid or redeemed, it shall be the duty of the county treasurer to give thirty days' previous written notice of said county's intention to exercise said option to redeem to the said National Bank of Commerce and to the original purchaser of said bonds, stating that he will, within thirty days from the date of said notice, redeem and pay, on the date that the same is redeemable according to the terms and tenor thereof, any such bond then redeemable and payable, giving priority according to the date of issue numerically, and upon presentation of any such bond or bonds at their place of payment, the said treasurer shall cause the same to be paid; and whenever the county treasurer shall redeem any of said bonds, he shall cancel the same by writing across the face thereof "Paid, together with the date of such payment, sign his name thereto, and turn the same over to the county auditor, taking his receipt therefor, which receipt shall be filed with the clerk of the board of county commissioners, and the auditor shall credit the treasurer on his books for the sum paid. interest pay York Section 6. On the twentieth days of June and December, Draft for respectively, in each year, so long as any of the interest cou- ments to be pons appertaining to the said bonds remain outstanding and sent to New unpaid, the county treasurer shall, at least ten days prior to the maturity of any such coupon, remit out of any money in his hands belonging to said county, by New York draft, to the National Bank of Commerce, in the city and State of New York, U. S. A., a sum sufficient to pay the semiannual interest accruing on said bond on the first days of January and July, respectively, in each year, except as hereinabove provided; and prior to giving the notice of redemption required under the provisions of the preceding section the said county treasurer shall, out of the sinking fund created under the provisions of this act, remit by New York draft to said National Bank of Commerce, a sum sufficient to pay the principal amount of such bond or bonds as he intends to redeem, and at the same time shall also remit by New York draft to said National Bank of Commerce an additional sum sufficient to pay the interest on the said bond or bonds intended to be redeemed to the date that they are redeemable according to the terms and tenor hereof, except as hereinabove provided, and the interest payment date specified in said notice. Section 7. Should the holder of said bonds, or any of them, Interest for any cause whatever, fail to present said bond for redemp- ceases, when when tion as provided for in this act, all interest thereon shall thereafter cease and determine. Section 8. Whenever the said bonds and interest thereon Taxes cease, shall have been fully paid, the taxes by this act levied shall cease and determine, and all moneys remaining in the said bond, interest and sinking funds, either one or both, as the case may be, shall by order of the said board of county commissioners be transferred to the fund used for paying the contingent expenses of said county high school. pledged Section 9. The faith of the State of Nevada is hereby solFaith of state emnly pledged that this act shall not be repealed, nor the taxation thereby imposed be omitted, until all the bonds and coupons issued thereunder and by virtue thereof shall have been paid in full as therein provided; and the provisions of this act and each of the bonds and interest coupons issued pursuant hereto shall constitute and the same are hereby declared to be a binding and irrevocable contract between said county and the purchasers of said bonds, and the holder from time to time of each of said bonds and the interest coupons thereto appertaining. negotiate Provisos in separate fund Section 10. The board of county commissioners is hereby County com- authorized to negotiate the sale of said bonds by advertising missioners to for sealed proposals, or by private sale, or sales, as they may bonds deem for the best interests of the county, and may reject any and all bids; provided, that no bond shall be sold for less than its par value; and provided further, that the said board shall sell the bonds to the highest and best bidder or bidders in the event that they elect not to sell the same at private sale or sales. Section 11. All moneys derived from the sale of said bonds Moneys kept shall by the purchasers of the same from the board of county commissioners be paid over to the county treasurer and the said treasurer is hereby required to receive and safely keep the same in a fund hereby created to be known as and designated "White Pine County High School Site and Building Fund, and to pay out said moneys in the manner now provided by law for the payment of the "County High School Fund, and for the purposes provided for in this act; and the said county treasurer shall be liable on his official bond for the safekeeping of the money which shall come into his hands under the provisions of this act and for the faithful discharge of all of his duties in relation thereto; but the purchaser of said bonds shall be in no wise responsible for the application of the proceeds of said bonds by said county treasurer or by any other party or parties. record of bonds Section 12. The clerk of the board of county commissionClerk to keep ers shall keep a record of all proceedings had and taken under the provisions of this act, making a record of the number, date, maturity and amount of each bond, and the name and postoffice address of the purchaser; provided, that no meeting of said board of county commissioners will be required under the provisions of this act in order to issue, execute and deliver Proviso |