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Current as of May 06, 2021 | Updated by FindLaw Staff
The following propositions shall be, and the same hereby are, offered to the state of Texas, which, when agreed to by the said state, in an act passed by the general assembly, shall be binding and obligatory upon the United States, and upon the said state of Texas: provided, the said agreement by the said general assembly shall be given on or before the first day of December, eighteen hundred and fifty:
A. the state of Texas will agree that her boundary on the north shall commence at the point at which the meridian of one hundred degrees west from Greenwich is intersected by the parallel of thirty-six degrees thirty minutes north latitude, and shall run from said point due west to the meridian of one hundred and three degrees west from Greenwich; thence her boundary shall run due south to the thirty-second degree of north latitude; thence on the said parallel of thirty-two degrees of north latitude to the Rio Bravo del Norte, and thence with the channel of said river to the gulf of Mexico.
B. the state of Texas cedes to the United States all her claim to territory exterior to the limits and boundaries which she agrees to establish by the first article of this agreement.
C. the state of Texas relinquishes all claim upon the United States for liability of the debts of Texas, and for compensation or indemnity for the surrender to the United States of her ships, forts, arsenals, customhouses, customhouse revenue, arms and munitions of war and public buildings with their sites, which became the property of the United States at the time of the annexation.
D. the United States, in consideration of said establishment of boundaries, cession of claim to territory and relinquishment of claims, will pay to the state of Texas the sum of ten millions of dollars in a stock bearing five percent interest, and redeemable at the end of fourteen years, the interest payable half-yearly at the treasury of the United States.
E. immediately after the president of the United States shall have been furnished with an authentic copy of the act of the general assembly of Texas accepting these propositions, he shall cause the stock to be issued in favor of the state of Texas, as provided for in the fourth article of this agreement: provided, also, that no more than five millions of said stock shall be issued until the creditors of the state holding bonds and other certificates of stock of Texas for which duties on imports were specially pledged, shall first file at the treasury of the United States releases of all claim against the United States for or on account of said bonds or certificates in such form as shall be prescribed by the secretary of the treasury and approved by the president of the United States: provided, that nothing herein contained shall be construed to impair or qualify anything contained in the third article of the second section of the “joint resolution for annexing Texas to the United States,” approved March first, eighteen hundred and forty-five, either as regards the number of states that may hereafter be formed out of the state of Texas, or otherwise.
Cite this article: FindLaw.com - New Mexico Territorial Laws and Treaties NM TERR LAWS ORGANIC ACT § 1 - last updated May 06, 2021 | https://codes.findlaw.com/nm/territorial-laws-and-treaties/nm-terr-laws-organic-act-sect-1.html
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