Arizona silver belt., 1890-08-02

durse on ecch bond the amount due thereon, and shall write across the facs of each bond the date of its surrender end The name of the person sarrendering The Territorial Auditor ,hall keep rec ord of all bonds is1usd and disposed ol by the Territorial Treasurer, showing their number, rate of interest, date and amount cf sale, when, where and to whom payabls, end f exchanged, for what and yhan presented for redemption, tho data, amount due thsreon and person surrandering.
 Tho Boards of Supervisors of tbe counties, the municipal and school au- thoriflss arc Hereby authorized. and directed to report to the loan commis- sioners of theIr bonded and outstanding indebtedness and said loan commission CT. may, on written demand, require an official report from tie boards of super visors of counties, the municipal or school authorities, of ,heir bonded and outstarding Indebtedness and sad loan commissioners shall provide for the re- deeming or rsfunding Of the county, municipal, and school district indebted, ness, upon the hiiicial demand of said authsritis., in the sane manner as other Territorial irdebtednssa. and they shall issue bonds for any indebtedness now allowed, or that may be hereafter al lowed, by law to said county, municipal ity, or school district, upon official de, tnand by said authorities; the county, municipality, or school district to pay into the Territorial treasury, in addition ts sl, other ta1eI authorized by law, such amounts as may be directed by the Ter ritorial Board of Equalization, or on their failure by the Territorial Auditor. to be levied for the payment of the lrincipal of the bonds issued in iadempti34, re- funding. or other benda issued to such county, municipality, CT sehool district when the same shall become due, and il, addition g. rate of interest rai1 by tie Territory on such 6pnds.
 PAR. 2049. tSec. ll.) a esH LEe Treas artr pays or redsems any indebtedness he shall indorse by writing or stamping in ink on the face of the paper eyiden- ciug such indebtedness so paid or re- deemed the words redeemed and cancel ed, with the date of cancellation. He shall keep full and particular account aud record Of all his proceedings under this act, and of the bonds redeemed and surrendered, and he shall transmit to the Governor an abstract of all his proceed ings under this act with his annual report to be, by the Governor, laid before the legislature at its meeting All books aud papers pertaining to the matter provided in this act shall at all times be open to inspection of the party interested, or the Governor, or q committee of either branch of the legislature, or Q joint com mittee of beth.
 "P8R 2050 (Sec. l2 It shall be the duty of the Territorial Treasurer to pay the interest on said houds when the same falls due out of sai interest fund. if sui f;cieut; and if said fund be not sufficient, then b pay the deficiency out of the general fund Provided. That the Terri torial Auditor shall hrat dssa his warrant on the Territorial Treasurer payable to tn, order of sand treasurer, for the amount of such deficiency of the general fund.
 sasE. 235I. (Sec 13.) It shall be the | duty Uf said loan commissioners to make frll report of all their proceeding. had under the provisions of this act to the Governor on or before the first day of January of each year, and said reports shallbe transmitted by the Governor or the Territorial legislative assembly. .
 "PAR. 2052. (Sec IA. No bond issued under the provisions of this act shall be taxed within the Territory.
 SEC 15. That nothing in this act shall be construed ts authorize any future in- crease of any indebtedness in excess of tho limit prescribed by the Harrison act. Provided, however, Ihat the pres ent exi,ting and outstanding indebted ness, together with such warrants as may be issued fer the necessary and current expenses of carrying on Territorial, coun- ty, municipal, and school government for | the yesr ending December 3i. 1890, may also be fusded and bonds issued for the redemption thereof. and thereafter no warrants, certificates, CT ether evidences of indebtedness shall be allowed tc issue pr be legal where the same is in excess of the limit prescribed by the Harrison act. !"
 l All acts or parts of acts in conflict with t..fe cot are hereby repealed,