Weekly Phoenix herald., 1885-02-19
AN ACT
To Provide for the Bonding and Payment of Certain Funded Indebte dness of
 Maricopa County.
INTRODUCED BY HON. R. B. TODD, OF
 MARICOPA.
Be at enacted 5y the Legtstati0e Assens- bly of the Territory of Arizona:

7
 outstanding on the 1st day of Apri
 1881, together with the interest nov due and to accrue thereon, the boar, of supervisors of Maricopa count,
 are hereby authorized and requiret
 to issue bonds of said county, in tn,
 sum of fifty thousand dollars, pay.
 able fifteen years from the date O
 issuance of said bonds, at the offict
 of the treasurer of Maricopa county
 in gold coin of the United States
 and to bear interest at the rate o
 eight per cent. per annum, payaole
 at the office of the said treasurer
 semi-annually, the first installment
 of interest to be paid on the 2d day
 of January and first day of July ID
 each year, in like gold coin of the
 United States.
 SEC. 2-For;y>five of said bonds
 shall be of the denomination of one 1 thousand dollars each, and the res
 mainder shall be of such denomina> 
 tion as shall be required by the pro, visions In this Act hereinafter con-
 tained. Said bonds shall bear the
 date of their issuance; shall be num> bered consecutively from one up~
 wards. and shall be signed by the
 chairman of the board of Supervi>
 sors in his official character, and
 shall have the seal of the county
 affixed thereto, attested by the sig
 nature of the Clerk of the board of
 supervisors. Said bonds thall be
 drawn to the order of the treasurer of said county, and shall be endorsed
 by hlm in his official capacity. Cou-
 pons for the interest shall be attached
 to each of said bonds so that the sum
 may be removed therefrom without mutilating the bond. and each of sad coupons shall be numbered cons secutively from one upwards, and shall be signed by the said county treasurer Tn his official character.
 SEC. 3-The clerk of the board of supervisors ofsaLaricopa county here by autserizedsanii sfiieessed to adver> tise for the space oT-s-rnousah. fstsFo daily newspapers published n the city of San Francisco in the State Of California, and one Tn the city of Phoenix, county of Maliccpa, and Territory of Arizona, informing the owners and holders of the warrants now outs anding, issued prior to the 2nd day of April, 1881. mentioned in section one of this Act, of the obs Jects and purposes of this Act, and that at any time after the 18th day of April, 1885, the said board of supervisors, with the treasurer of said county, will be prepared, at the cffice of the treasurer, 10 redeem all of said county warrants, and for the
 redemption thereof to issue the bonds of the county authorized by this Act to be issued; and the ex> pense incurred by such advertising, and having such bonds prepared, shall be paid out of the county gen- eral fund.
 SEC. 4-Upon the surrender and delivery to said board of supervisors, with said treasurer, the warrants of said county which were issued as in section one of this Act, the said board of supervisors, with l sad treasurer, shall issue and de> | liver to the person or rersens so sur> rendering and delivering said war rants sufficient amount of the | bonds authorized by this Act to be as will equal the amount of p rincipal and interest then due and | unpaid of said surrendered warrants; provided, however, that no bonds issued under the provisions of this Act, shall be delivered or exch anged for less than their par value, nor shall any interest accrue upon any of said bonds until the date of deliv- cry of the same in exchange for the warrants surrendered.
 SEC. 5-It shall be the duty of the clerk of the board of supervisors and the county treasurer each to keep separate record of all war> rants received, and of all bonds issued and exchanged under the provisions of this Act, showing the number, date, amount and rate of interest of interest of each bond, and to whom the same was issued, and all warrants so surrendered and res ceived shall be cancelled and de- stroyed by said board of supervisors, and said county treasurer, and the treasurer shall enter upon his book of county warrants the word "cane celed,' opposite the entry of each | warrant, with the date of such can cellation, and any bonds issued un- der the provisions of this Act not | used by said board of supervisors | and treasurer in the redemption of said county warrants, after all of | said warrants are redeemed shall be | cancelled and destroyed by said | board of supervisors and county | treasurer.
 SEC 6. For the payment of the | interest of the said bonds issued un- der the provisions of this Act, the l said board of supervisors of Mari- copa county, are hereby authorized, and it shall be their duty in addition 10 the amount of taxes otherwise re- quired by law to be levied, to an- nually, for ten years after the 1ssu- ance of said bOnds. lew a tax of |