Arizona republican., 1890-08-05

date of it's 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 of interest, date and amount of sale, when, where and to W hOm payable, and if exchanged, for what and when presented for redemption, the date, amount due thereon ana person surrendering. .
 "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 missoners may, on written demand, require an official report from the board of supervisors of 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, lr the same manner as other Territorial indebtedness, and they shall issue bonds for any indebtedness now allowed or that may be hereafter allowed,b 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 in addition rate oi ln- terest paid by the Territory on such bonds.
 "PAR. 2049. (Sec. H. 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 snail keep a 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 or all ms 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 thls act shall at all times be open to the inspection oi the party interested, or the Governor, or com mittee of either branch Of the legislature, or joint committee of both.
 "PAR 2OJO 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 dehclency out or the general fund: Provided, That the Territorial auditor shall first draw his warrant on the ler treasurer, for the amount of such dehclehcy out of the general fund.
 PAR 205l, Sec l3) It shall be the duty or said loan commissioners to make 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 Goverl- | to the Territorial legislative assembly.
 PAR 2052 (Sec. l4.) No bond issued under the
 provisions of this act shall be taxed within this | Territory"
 SEC. l5 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 Harrison act" Provided, however, That the present existing and
 outstanding indebtedness, together with
 such warrants may be issued for the | necessary and current expenses ot car, | rying on Territorial, county, municipal, ana | school government for the year ending Deeem- | Der 3l lS9O may also be funded and bonds ls- | sued for the redem ption thereof; and thereafter | no warrants, certificates, or other evidences oi | indebtedness shall be allowed to issue or be | legal where the same is in excess Of the limit | prescribed by the "Harrison act
 | That all acts or parts of acts in conhlct wlth | this act are hereby repealed.
 | APPROVED, June 9, 1890.