Arizona republican., 1890-07-20

date of its surrender and and the name Of the person surrendering. The Territorial Auditor shall keep n record of all bonds issued and dis posed of by the TeuitOrial Treasurer, showing their number, rate Oi interest, date and amount Of sale, when, where and to whom payable, and if exchanged, for what and when presented for redemption, the date, amount due thereon and person surrenderlng
 "The Boards of Supervisors of the counties, the municipal and school authorities are hereby authorized and directed to report to the loan commissioners of the Territory their bonded and outstanding indebtedness and said loan com
 missioners may, on written demand, require an official report from the board of supervisors 0f counties, the municipal or school authorities, nf their bonded and outstanding indebtedness, and said loan commissioners shall provide for
 the redeeming or refunding of the county, nun
 icpal, and school district indebtedness, upon the
 official demand of said authorities, in the same manner as other Territorial indebtedness, and
 they shall issue bonds for any indebtedness now allowed ,or that may be hereafter allowed, by law
 to said county, municipality, or school district,
 upon official demand by said authorities; the
 county, municipality, or school district to pay
 into the Territorial treasury, in addition to all
 other taxes authorized by law, such amounts as
 may be directed by the Territorial board Of
 equalization, or on their failure by the Terri.
 toral auditor, to be levied for the payment of
 the principal of the bonds issued in redemption,
 refuuding, or other bonds issued to such county,
 municipality, or school district when the same
 shall become due, and in addition rate of ln-
 terest paid by the Territory on such bonds. "PAR. 20i9 (Sec. ll) When the treasurer pays
 of redeems any indebtedness he shall indorse:
 by writing or stamping in ink on the lace oi the paper evidencing such indebtedness so paid or redeemed, the words redeemed and can celed,' with the date of cancellation. He shall keep full and particular account and record or all his proceedings under the act, and or the bonds redeemed and surrendered, and he shall transmit to the Governor an abstract of all his proceedings under this act with his annual re port to be- by the Governor, laid before the leg islature at its meeting. All books and papers | nintp f. hn shall at all times be open to the inspection Of the party interested, or the Governor, or com mittee of either branch of the legislature or a joint committee of both.
 PAR 2O5O Sec l2) It shall be the duty of the Territorial treasurer to pay the interest on said bonds when the same falls due out oi said interest fund, if sufficient and If said fund be not sufficient, then to pay the deficiency out oi the general fund: Provided, That the Territorial auditor shall first draw his warrant on the Ter. | ritoral treasurer, payable to the order oi sald treasurer, for the amount Of such detciency | out of the general fund.
 PAR 205l, Sec I3.) It shall be the duty of said loan commissioners to make iuli report | of all their proceedings had under the | provisions of this act to the Governor on or
 before the first day of January Of each year, and | said reports shall be transmitted by the Govern | to the Territorial legislative assembly. | "PAR. 2052. (Sec lI) No bond issued under the
 provisions of this act shall be taxed within this | Territory"
 SEC. ID. That nothing in this act shall be con. | strued to authorize any future increase | of any indebtedness in excess Of the limit | prescribed by the "IIarrison act" Provided ! however, That the present existing and
 outstanding indebtedness, together with
 such warrants may be issued for the necessary and current expenses oi car | rying on Territorial county, municipal and | school government for the year ending Decem | Der 3l, 1890, may also be funded and bonds Is
 sued for the redemption thereof; and thereafter no warrants certificates, or other evidences oi 1 indebtedness shall be allowed to issue or be l har tha is n a | prescribed by the Harrison act"
 | That all acts or parts of acts in conflict with 1 this act are hereby repealed.
 | APPROVED, June 9, 1890