Arizona republican., 1890-07-27

date of its surrender and and the name of the person surrenderng The Territorial Auditor shall keep record of all bonds issued and dis posed of by the Territorial 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 ana person surrendeTing.
 "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 oi counties, the municipal or school authorities, of their bonded and outstanding indebtedness, and said loan commissioners shall provide Tor the redceming or refunding of the county, nun icipal, 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,Dy iaw 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 euualization, or on their failure by the Terri. torial auditor, to be levied for the payment oi the principal of the bonds issued in redemption, refundng, or other bonds issued to such county, municipality, or school district when the same shall become due and in addition q rate oi m terest paid by the Territory on such bonds.
 PAR. 2O49. (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 pald or redeemed, the words redeemed and can celed,' with the date of cancellation. He snail
 keep full and particular account and record of all his proceedings under the act, ana or the
 bonds redeemed and surrendered, and he snail
 transmit to the Governor an abstract oi all ms proceedings under this act with hls annual re-
 port to be, by the Governor, laid before the reg isature at its meeting. All books and papers
 inn in hp
 shall at all times be open to the inspection or the party interested or the Governor, or n com mittee of either branch of the legislature, or joint committee of both.
 PAR 2OjO. (Sec. l2) It shall be the duty oi the Territorial treasurer to pay the interest on said bonds when the same falls due out or salh interest fund, if sufficient; and ii sald luhd De not sufficient, then to pay the deficiency out or the general fund; Provided, That the Territorial auditor shall first draw his warrant on the Ter rtOrial treasurer, payable to the order oi sald treasurer for the amount Of such dehclency out of the general iund.
 PAR 2O5i, (Sec l3) It shall be the duty of said loan commissioners to make a full 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 DoVerh- | to the Territorial legislative assembly.
 "PAR 2O52. (Sec. li.) No bond issued under the
 provisions of this act shall be taxed within this | Territory"
 strued to authorize any future increase
 of any indebtedness in excess Of the limit l prescribed by the "Harrison act" Provided, | however, That the present existing and
 outstanding indebtedness, together wlth | such warrants as 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 lsaO may also be funded and bOhds ls-
 sued for the redemption thereof; and thereafter no warrants, certificates, or other evidences or | indebtedness shall be allowed to issue or be l legal where the same is in excess oi the llmlt ! prescribed by the "IIarrison act
 | That all acts or parts Of acts Tn cohnlct wlth | this act are hereby repealed. | APPROVED, June 2j, 1890.