CHAPTER 109. AN ACT ENTITLED AN ACT TO PERMIT MERCANTILE COMPANIES AND ASSOCIATIONS TO DO BANKING IN CITIES AND TOWNS OF LESS THAN FIFTEEN HUNDRED INHABITANTS. H. B. No. 114; Approved March 19, 1903. CONTENTS. Sec. 1. Mercantile companies may transact banking business. Capital stock. Amount to be paid in. Report to secretary of the territory and probate clerk. Sec. 2. Any such corporation or association now existing may transact banking business. Requirements. Sec. 4. Banking accounts to be kept separate from mercantile accounts. Be it enacted by the Legislative Assembly of the Territory of New Mexico: Section 1. That hereafter any number of persons, not less than three, may associate to establish mercantile companies and companies for trade and business, which corporation or association may in addition to the things now allowed by the laws of this territory transact a general banking business, upon the terms and conditions and subject to the liabilities now prescribed by the laws of this territory, relating to. corporations and associations in towns and cities, having a population according to the last United States census, of less than fifteen hundred inhabitants, and the aggregate amount of the capital stock of such corporation or association shall not be less than thirty thousand dollars ($30,000.00). Any such corporation or association organized under the provisions of this act shall transact no banking business until not less than twenty thousand dollars ($20,000.00) of its capital stock shall have been paid into the treasury of such corporation or association, and until a certificate to that effect, under the oath of its president and treasurer, stating such fact shall have been filed in the office of the secretary of the territory, and in the office of the probate clerk in the county where such corporation or association is located, nor shall such banking business be continued beyond the period of one year, unless the capital stock of such corporation or association shall have been fully paid up and a certificate stating such fact under the oath of the president and treasurer of such corporation or association shall be filed in the office of the secretary of the territory and in the office of the probate clerk aforesaid. Sec. 2. Any such corporation or association now existing and established under the laws of the Territory of New Mexico in any city or town having a population of less than fifteen hundred inhabitants, according to the last United States census, may avail themselves of the benefits of this law when their capital stock shall have been paid in, in accordance with this act and a certificate duly filed with the secretary of the territory as herein before provided, by complying with the provisions of the general incorporation law for increasing or diminishing the capital stock of corporations as provided in section 431 of the Compiled Laws of 1897, and to amend its articles of incorporation to include the provisions of this law as provided in section 432 of the Compiled Laws of 1897: Provided, that its said capital stock shall in no case be less than thirty thousand dollars ($30,000.00). Sec. 3. Any corporation organized and existing under this act shall not be deemed to have an indebtedness exceeding its capital stock, as provided in section 429 of the Compiled Laws of 1897, by reason of any deposits that it may have in its banking department when it shall have on hand in cash and cash exchange a reserve fund of not less than twenty-five per cent. of its deposits. Sec. 4. Any corporation or association organized and existing under the provisions of this act and doing a banking business shall keep accounts of such banking business separate and apart from its regular mercantile business, so that at all times its books show the exact standing or condition of the banking department of such corporation or association. Sec. 5. All acts or parts of acts in conflict with the provisions of this act are hereby repealed. Sec. 6. This act shall take effect and be in force from and after its passage. CHAPTER 110. H. B. No. AN ACT TO PERMIT AND AUTHORIZE A LEVY OF ONE AND ONEHALF (1.5) MILLS FOR ROAD FUND PURPOSES. 165; Approved March 19, 1903. CONTENTS. Sec. 1. County commissioners may levy a special tax to create road fund. Sec. 2. Special tax levy. Manner of making and collection. Purpose for which “road fund" created. Sec. 3. Proceeds to be paid out on warrant of county commissioners. Be it enacted by the Legislative Assembly of the Territory of New Mexico: Section 1. That hereafter in any county in this territory where one hundred legal voters and regular legal tax payers of any county shall petition in writing the board of county commissioners of any county at the regular meeting of the board of county commissioners when the regular tax levy is to be made for the various purposes of taxation in such county, demanding that a special levy be made in such county by such board of county commissioners for the purpose of creating a road fund in such county for the purpose of improving and repairing roads, purchasing supplies, lumber and material for bridges, culverts, and other improvements upon the roads and highways in such county and for the further purpose of paying the salaries and expenses of road overseers and supervisors in such county. The board of county commissioners of such county to which such petition is regularly presented may in the discretion of said board of county commissioners order a special levy of taxes in said county to be made and collected the same as other levies are made and collected in such counties of not to exceed one and one-half (1.5) mills upon the assessed valuation of such county as in their discretion they may deem proper for a county fund for road purposes. Sec. 2. Such levy to be made and collected at the same time and in the same manner as other taxes are levied and collected for general territorial and school purposes, and when such taxes are collected they shall constitute a general road fund in such county to be used and applied by the board of county commissioners for the purpose of creating, improving, and repairing public roads and highways in such county, and for the purpose of furnishing supplies and material for the construction and repair of bridges, and culverts, buying tools, and implements, and defraying the expense and paying for the services of road overseers in their capacity as such. Sec. 3. The proceeds of such levy constituting such road fund shall be paid out only on the order and warrants of the board of county commissioners regularly issued and such road fund shall be used and expended only for such purposes and in such manner as the board of county commissioners shall in their discretion order and authorize through the road overseers or otherwise. Sec. 4. This act shall take effect and be in force from and after its passage. CHAPTER 111. AN ACT TO ENABLE TOWNS OR VILLAGES IN THE TERRITORY OF NEW MEXICO TO CHANGE THE CHARACTER OF THEIR MUNICIPAL GOVERNMENT AND FOR OTHER PURPOSES. H. B. No. 39; Approved March 19, 1903. CONTENTS. Sec. 1. Procedure by which towns or villages may incorporate as cities. Be it enacted by the Legislative Assembly of the Territory of New Section 1. Any incorporated town or village in the Territory of New Mexico having a population of two thousand people or more may apply through its board of trustees, to the governor of the territory, to make, issue and publish a proclamation of the fact that such town or village is entitled to and desires to become a city, which said proclamation shall be issued only after a sworn statement, filed with the governor, has been made and executed by the chairman of the board of trustees of such town or village, the assessed valuation of property within the proposed city limits, the corporate name and the boundary lines thereof, and shall be sworn to by the chairman of the board of trustees, and the proclamation of the governor shall contain the facts recited in said statement. Such proclamation shall be conclusive evidence of the facts therein recited, and shall be published in one newspaper of general circulation in the county wherein said town or village is situated, and a certified copy thereof made by the governor shall be posted in a conspicuous place within the limits of said corporation, and an affidavit of such posting shall be made by the party posting such proclamation, and at the end of five days after the posting of such proclamation, the board of trustees of such town or village, shall proceed to organize the same into a city by dividing it into wards of not less than four, and shall call an election for the election of an alderman from each ward and a mayor from the city at large, and upon the election and qualification of such aldermen and mayor, the term of office of the officers of such town or village shall expire, and thereafter such town or village shall be a city with all the powers, privileges, duties and liabilities of cities in the Territory of New Mexico. Sec. 2. That the boundaries of such city shall not extend to exceed one mile and a half each way from the center of such city and such center shall be established by the board of trustees prior to the application for proclamation, and there shall accompany such application to the governor a plat showing the boundaries of such proposed city and the center as established. The boundary lines of such city need not correspond with the boundary lines of the town or village, but the territorial limits of such town or village may be extended or contracted, as such board of trustees may desire, and as they may show in their statement and application to the governor for the proclamation to change such town or village to a city, and after the issue, publication and posting of such proclamation, the boundary lines therein as stated to be the boundary lines of such city shall be the boundary lines thereof, and all the territory included therein shall constitute and be known as the city designated in such proclamation and be governed as such by the officers thereof under the laws applicable thereto. Sec. 3. This act shall take effect and be in force thirty days from and after its passage. CHAPTER 112. AN ACT TO AMEND SECTIONS 1, 2, 5, 9 AND 11 OF CHAPTER 66 OF THE LAWS OF NEW MEXICO OF 1899. H. B. No. 33; Approved March 19, 1903. CONTENTS. Sec. 1. Section 1, chapter 66, Laws of 1899, regarding the appointment by the district judge of jury commissioners, Amended. Sec. 2. Section 2, chapter 66, Laws of 1899, regarding selection of grand and petit jurors, Amended. Sec. 3. Section 5, chapter 66, Laws of 1899, regarding opening of envelopes containing names of jurors, and issuance of venires, Amended. Sec. 4. Sec. 5. Sec. 6. Section 9, chapter 66, Laws of 1899, regarding appointment of jurors to supply non-attendance or disqualification, Amended. Section 11, chapter 66, Laws of 1899, regarding qualifications of grand and petit jurors, Amended. Act to take effect July first, 1903. Proviso. Be it enacted by the Legislative Assembly of the Territory of New Mexico: Section 1. Section 1 of chapter 66 is hereby amended to read as follows: "It shall be the duty of the judges of the district court in each district in this territory at every regular term that shall be holden in any county in this territory to appoint in open court three persons of honor and respectability, who shall have the qualifications of jurors, to constitute a commission to select the grand and petit jurors to serve at the next regular term of court in said county. Every person appointed as such commissioner shall, before proceeding |