Arizona republican., 1890-08-26

date of its surrender and and the name of the person surrenderng Tine Territorial Auditor shall keep record of all bonds issued and dis posed of by the Territorial Treasurer, showing their number, rate ot 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 oi counties, the municipal or school authorities, of their bonded and outstanding indebtedness, and said loan commissioners shall provide for the redeeming 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,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 tOrial auditor, to be levied for the payment of | the principal of the bonds issued in redemption, refunding, or other bonds issued to such county, municipality or school district when the same shall become due, and il, addition rate Of in | terest paid by the Territory on such bonds. "PAR. 20i9. (Sec. 1l,) When the treasurer pays of redeems any indebtedness he shall indOrse. | by writing or stamping in ink on the lace oi | the paper evdencing 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 of all his proceedings under the act and of 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 | isature at its meeting. All books and papers
 pertaining to the matter provided in this act
 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 d | joint committee of both.
 'PAR. 205O. Sec. 12) It shall be the duty of
 the Territorial treasurer to pay the interest on said bonds when the same falls due out of said interest fund, if sufficient; and if said fund be not sufficient, then to pay the deficiency out ol the general fund: Provided, That the Territorial auditor shall first draw his warrant on the Ter rltoriGl treasurer, payable to the order oi said treasurer, for the amount Of such deficiency
 out of the general fund.
 "PAR. 2O5l, Sec l3) It shall be the duty oi
 said loan commissioners to make full reporI
 of all their proceedings had under the
 provisions of this dct to the Governor on ol
 before the first day of January of each year, and
 said reports shall be transmitted by the Govern
 to the Territorial legislative assembly
 "PAR. 20j2. (Sec. ID No bond issued under the
 provisions of this act shall be taxed within thi'
 Territory"
 SEC. lj. That nothing in this act shall be con
 strued to authorize any future increase
 of any indebtedness in excess of the limi
 prescribed by the "Iiarrison act" Provided
 however, That the present existing anC outstanding indebtedness, together witt
 such warrants may be issued for thu necessary and current expenses of car rying on Territorial, county, municipal, ans school government for the year ending Decem Der 3l, lS9O, may also be funded and bonds is sued for the redemption thereof; and thereafte no warrants, certificates, or other evidences O
 indebtedness shall be allowed to issue or b legal where the same is in excess of the limi prescribed by the "lIarrison act"
 That all acts or parts of acts in conflict witt this act are hereby repealed.
 APPROVED. June 25, lSgO