Tombstone daily prospector., 1890-07-28
AN Acr.
Approving Wfsh ADsead ad nae nt s the Funding Acs Of
 Arizona.

Sl Ameftcd in congress assent bled that
 the act of the revised statutes of Ari.
 zoER of 1887. known as the ''Titie | lNAXI-Funiipg," be and is hereby
 amended so as to read as follows, and
 that as amended the same Is hereby 1 approved and confirmed subject tu
 fataTe Territorial legislation. "Title
 XXXI-Fundiug and loan. Chapter
 one. Territorial. county. nlumcipa
 and school district indebtedness.
 Par. 2039, Sec. For the purpose
 of liquidating and providing for tbe payment of the outstanding and cx IstiHg indebtedness of the Territory of
 Arizona and such future indebtedness
 ss may be, or is now authorized by
 law, tue Governor of said Territory, together with the Territorial auditor aud Territorial secretary, and their successors in office. shall constitute a board of commissioners, to be styled
 she loan commissioners of Ihe Terri
 tory of Arizous, and shall have and exercise the power and perform the duties hereinafter provided.
 Par. 20AG Sec 2. It shall be and Is
 hereby declared the duty of the loan leommissioners 10 provide for the pay
 ment of the existing Territorial indebt ness due, and to become due. or that is now or may be hereafter, auth orized by law. and for the purpose of
 paying, redeemiug and refunding ait
 or any part of tbe principal and inter est. or either of the existing and sub
 sisling Territorial legal indebtedness,
 as.d also that which at any time may become due, or is nog, or may be
 hereafter authorized by law, the said
 commissioners shall from time 10 time issae negotiable coupon bonds ef ihis Ter riiory when the same can be done at a lower rate of interest and to the
 profiI and benefit of the Territory. Par. 204l Sec. 3 Said bonds shall be issued as near as practicable in de nominations of ons thousand dollars but bonds of a lower denomination taot less than two hundred and fifty kdsliars may be issued when necessary. lsSaid bonds shall bear interest at raie Do be fixed by the loan commissioners Ebut in DO case to exceed five per cen; DOT annum, which interest shall be
 pad in gold coin or its equivalent in
 lawful money of the United States on
 the fifteenth day Of 5anusry of each Il treasury or at such bank in the city of New York, state of New York or in the city of San Francisco, state of Califor
 mia as may be designated by said loan commissioners. at the option of the purchaser of said bonds. the place of ayment being mentioned in said bonds 1 The principal of said bonds shall be | made payable in lawful money of the
 United States fifty years after the date cf their issue. but may be redeemed after twenty years.
 They shall bear the date of their
 issue, state when where and to whom payable, rate of interest. and when and where payable and shall be signed 1 by said loan commissioners, and shall have the seal of the Territory affixed thereto. and countersigned by the Territorial treasurer and bear his of
 fciai seal and shall be registered by the Territorial auditor in book to be l kept by him for the purpose, which | shali state the amount sold for, or, if exchanged for what, and the faith and credit of the Territory is hereby pledg
 cd for the Payment of said bonds and
 the interest aceuring thereon as herein provided ,.
 Par 2o42. See, i. Coupons for tbe
 interest shall Be attached to each bond l -o that they may be removed without
 iu jury or mntilssion. to the bond. They
 shall be ,eopsecutiyely numbered and bear the same number of the bond to winch they are sttached and shall be sEgned b, the Territorial treasurer.
 'srhe sad -capons shall cover the in terest expressed in said bond from the date of issue aatd paid bat in no case -haH bonds bear interest- nor shall any intetesi be paid thereon for any time before their delivery to the purchaser
 as hereinafter provided.
 Par. 2g43 s5se 5 Whenever the said loan eomnissioners may De authorized i by law to issue bonds or shall have de cided to refund or redeem ali or any part Of the existing fbdebtedness of sfsis Territory. tberI shali 5Ca1recfi ths5 gerritorial treasurer 10 adyertlse fort the. sale of the bonds to be issued for that purpose. by carising notice of such ssis4o tse paihsBea for tho pssiod of one month in spms daily pc vspaPer- publisbed at the capital of the Terri ;ary. and as least one ipsertion1n sonieI newspaper published in the City of New York aua state of New York and ;n the city of San FraueIseo. state of oaGorrsa; such -Botses saslf specify tbeI amount of bnpds to be sold, the place, day s5s zho;sf of sais aud Shat bids wifi Be feeeivz cd by sad tFsa=lsrcr fer tae purchase o.f esid hauts gyi-f in one month from the expiration cf Fi6 rsibaicaisAn. -Hsd al the place And tfsae faa aassi is said Eotiee tge said ;ressareE l srd loan commissioners shall open all b1ds received by hign ard shall award .he ifsaT ehsse of saId beaa=. eT eny part thereof io ti,.,ssdSsr CT .lsiSaess thereof bidding The Ioues, rae of interest: Provided thAs said fsan ,-silIsl1issf fouers ifATe Il risEt ts reject zay and all bids And provided flrtber. shat; ti,sv nav refuse 10 make any award tinless s,57%feFsf zzgslF5sy saEfi tSs furnished by -f5r
 bidder CT kidGers for the c9mplisuee xtrh the terms of their bids.
 ..Par- se4g. See 6. When the safe of said s.z ds shall l,e awarded by the i2sarzean
 sionsrs t<s sh2t.Proyide p-os:er
 ',l.sy F, ],