Weekly Phoenix herald., 1883-02-16
TIE CGEREEogsE BILL


TIE RERogsE BILL.
An Act Authorizing the County OF
Maricopa to Issue Bonds tn Raise
Money Tor the Purpose of Build
ing a Courthouse aud Jail and
Fencing and furnishing the Same
SECTION 1. Be it enacted by the
Legislative assembly, of the Terrific
~ of Arizona: That the Board of
Supervisors f the County of Mari
copa be aud are hereby authorized
and required to issue and sell bonds
OF said county, in the sum of thirty
thousand dollors payable fifteen
! Years from the date of issuance of
said bouris, at the Office of the Treas-
uTer of said county, ia gOid cJin of
the Unitc.l States, and t. bear inter
ct at the ra;e of ten per cent per
annum, payable at The Office of said
Treasurer Annually on tie second
day of JaunaTy Of e.sch year, IN like
god con Of The United Siat tes.
SEC 2. Said bond, shall be of the
denomination of on thousand dol
lars each shall bear the date Of their
from oIc upwards, and shall be
signed hy Ee chairman of the Boar.i
Of supervisors ia his Official charac-
te-, AMI Shall have the seal of the
comfy affixed thereto. SAID bonds
shall be drawn t. The order OF the
Treasurer of said county q en-
dIrsod by him in his official capa =
iiy. COUPONS for the interest sh ii
be attached To each of said bonds,
so hat the same mty be removed
therefrom without mutilatiug the
bond, and each of said coupons sh II
be signed by the Sail County Treas
u. er in his official character.
SEC. g. Before the sale of said
Donds the said Board of Supervisor
shall. at q regular meeting of said
Board, or special meeting called
for thst purpose, cause to be entered
upon the records of said Board ali
order directing the sale of said
bonds, and The day and hour of said
sele, and shall cause copy of such
order t., br inserted in newspaper
published in said county for at least
twenty days, and 4 notice that sealed
proposals will be received by said
Board for the purchase of said bonds
on the day and hour named in sa d
order. The sSid Board of Supcrvi-
sors 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 proYid-
ed further, that noe bonds shall be
sold for less than nine. y-five cents
in gold coin, on the dollar. par value.
SEC. 4. The said Board of Super
visnrs may sell said bonds at par
value without the notice provided
for in the preceding section.
SEC. 5. The amount of the bonds
sold, their number and dates, shall
be entered upon the records of the
Board of Supervisors in a book kept
for that purpose.
SEC 6. The proceeds of the sale
of said bonds shall be paid INTO the
County Treasury, and shall be CON
stituted fund to be called the
"Building Fund" and shall be ex-
pended under the direction of the
Board of Supervisors for the erec-
ton of Courthouse and Jail.
SEC. 7. After said bonds are sold,
and until all bonds sold arc redeem
ed, the said B aard 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 to be levied
and collected for other county pur-
poses, and at the same time and in
the same manner that other taxes are
levied and collected, to levy and
cause to be collected tax on all
taxable property in the county, suf-
ficient to pay the interest on all
bonds not paid Said tax when coli
lectcd, shall constitute fund fer
the payment of the interest on said
bonds, and shall be called the Build
ing Interest Fund.-" and if any in
terest shall he due on said bonds
and there is no money III said fund
to pay the same, the Board of Super
vi ors shall, by an order catered
upon the records of said Board, di-
rect the Treasurer of said comfy TO
transfer TO the said Building IN
terest Fund from the County Cen
eral Fund, sufficient sum to pay
said interest. All money remaining
in the treasury belonging to the
Building Interest Fund" after all
interest has been paid, shall be trans
ferred by the Treasurer of said coun-
ty 10 the General Fund
SEC. g. The said Board of Super
visors shall, in the year 1892, and
in each year thereafter until the year
1897, levy and collect, as provided
for in sectioun seven (D, tax suffi~
cient to pay the annual interest and
five thousand dollars upon the prin-
cipal OF said bonds. Said tax, when
collected, shall constitute fund, and
shall be called the Building Re
demption Fund.-" and whenever
there shall stand to the credit of that
fund upon the books of the County
Treasurer the sum of five thousa1 d
dollars the Board of Supervisors shall
advertise in a newspaper published
in the county, for the space of twen-
ty days, for sealed proposals tor the
redemption of said bonds; and at the
expiration of said twenty days of
such publication the said Board of
Supervisors shall open the sealed
proposals and shall pay the bonds
offered at the lowest price, until five
thousand dollars of said bonds are
redeemed. If there should not be