Weekly Phoenix herald., 1883-01-19

money for thepnrpo.e OF building
Courthouse and Jail and fencing
aud furnishing the same.
Sxc. /. Be it enacted by the Lc2is-
lative Assembly of the Territory OF
Arixoha. That the Board OF Super
visors Of the County of Maricopa re
and are hereby authorized and re-
ouired to issue aud sell bonds Of said
county. in the sum of thirty thou
sand dollars payable fifteen years
from the date of the Issuance of said
bonds, at the office of the Treasurer
of said County. in gold cUin of the
United States, and TO bear interest al
the rafe of ten per cent. per annum,
payable at the office of said Treasur-
er annually on the second day of
january of each year, in like gold
coin Of the United States
gKc-U. SAID bonds shall be Of the
denomination of one thousand dol
lars each; shall bear the date of their
issuance, numbering consecutively
from one upwards, and shall be
signed by the Chaii man Of the Board
Of Supervisors in his official charac-
ter, and shall have the seal of the
county affixed thereto. Said bonds
shall be drawn TO tbs order of the
Treasurer of said county and en-
dorsed by him in his official capaci
ty Coupons for the intere st shall
be attached to each of said bonds,
SO that the same may be removed
therefrom without IN utilating the
bond, and each of said coupons shall
be signsd by the said County Treas
uTer in bis official character.
SKc. III Before the sale of said
bonds the said Board of Supervisors
shall, al a regular meeting of said
Board, or a special meeting called
for that purpose, cause to be entered
upon the records of said Board an
order directing the sale Of said
bonds, and the day and hour of said
sale, and shall cause copy of such
order to be inserted in a newspaper
published ia said county for at least
twenty days, and a notice that sealed
proposals will be received by said
Board for the purchase of said bonds
en- the day aud hour named in said
order. The said Board of super
visors shall open all sealed proposals
received by them, and shall award
the purchase of said bonds to the |
highest responsible bidder; provided |
that said Board of Supervisors may
reject any and all bids; and provid- |
cd further. that no bonds shall be
sold for less than ninety-five cents IN
gold coin, on the dollar, par value.
SIC. ". The said Board of SUPER
vi-ors may sell said bonds at par
value without the notice provided |
for in the preceding section.
SIC. V. The amount of tie bonds
sold, their number and dates, shall |
be entered upon the records OF the |
Board OF Supervisors, in book kept |
In book for that purpose.
SIC. vi. The proceeds OF the sale |
of said bonds shall be paid irto the |
County Treasury, and shall be con-
stitued fund to be called the !
building Fund.-" and shall be ex-
pended under the direction of the !
Board of Supervisors for the cree
lion of O court house and Jail.
SEC VII.After said bonds are sold |
and until all bonds sold arc redeem !
ed, the said Board of Supervisors are |
hereby authorized, and it shall be |
their duty, IN addition to the amount |
of taxes now or which may hereafter
be authorized by law 10 be levied |
and collected for other county pur-
the same manner that other taxes are
levied and collected, to levy and |
cause to be collected q tax on all |
,.ssxsd5lly5 property in the county, auf-
fcsentl to pay the interest on all
bonds(not paid. Said tax when COL
lected, shall constitute . fund for
the payment of the interest on said
bonds. and shall be called the Build.
lag Interest Fund.-" and il any in
terest Bhall be due on said bonds
and there is no money in said fund
20 pay the same, the Board of Super
vis0rs shall, by an order entered
1pon the records OF said Board, di-
rec the Treasurer of said county to
to transfer to the said Building In
te;est Fund" from the County Gen.
esal Fund, a sufficient sum to pay
ea,E kest-- All moaeyLe maiRing
II tTeasAF555--b belonging TO the
Building Interest fund, after all in
forest has been paid, shall be trans
ferred BY the Treasurer OF said coua-
" to the General Fund.
SEC. VIII. The said Board of Su-
pervisors shall, in the year 1893, and
in each year thereafter until the year
1897, levy and collect, as provided
for in secti On seven %, tax suff-
cirnt to pay the annual interest and
i've thousand dollars upon the prin-
cipal of SAID bonds Said tax, when
collected shall constitute fund, and
shall he called the Building Re-
dempiion Fund.- and whenever
there shall stand to the credit of that
fund upon the books of the County
Treasurer the sum Of five thousand
dollars the Board of Supervisors shall
advertise in q newspaper published
In The county, for the space of TWEEN
y days, for sealed proposals for the
OF said bonds; and at the
expiration OF said twenty days of
such publication the said Board of
Supervisors shall open the sealed
and shall pay the bonds
offered at the lowest price, until five
thousand dollars of said bonds are
If there should not be
money enough in said Building Re-
demption Fund to redeem five thou
Of Supervisors shall, by an order en-
direct the Treasurer OF said county
to transfer to said Building Redemp-
tion Fund, from the County General
Fund, sufficient sum to complete
the payment of five thousand dol
lars of said. bonds: provided that no
bid shall be received for more than !
par value of said bonds; should
there be no proposals made for par 7
1ss, then the money in said
be used for the redemp-
uid bonds, according TO the
Pof their issue, to the amount t
% I'VE thous and dollars, of which the
County Treasurer shall give notice
in manner mentioned hereinbefore
in this section; and after four weeks
from the date of said notice the s
bonds proposed to he redeemed shall
cease 10 draw interest: and if any
such bonds shall not be presented
Tor redemption within three months
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