Arizona republican., 1890-08-18

date of its surrender and and the name of the person surrendering. The Territorial Auditor shall keep q record Of all bonds issued and dis posed of by the Territo torial Treasurer, showing their number rate of 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 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 missioners 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 icpal, 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 in addition rate of in | terest paid by the Territory on such bonds. "PAR. 20io. (Sec ll,) When the treasurer pays
 of redeems any indebtedness he shall indorse | by writing or stamping in ink on the face of | the paper evidencing 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 l 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 it's meeting. All books and papers pertaining to the matter provided in this act
 shall at all times be open 10 the inspection of the
 party interested or the Governor, or com mittee of either branch of the legislature, or a joint committee of both.
 "PAR. 20jO. (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 of
 the general fund: Provided, That the Territorial
 ritorial treasurer, payable to the order of said
 treasurer, for the amount of such deficiency
 out of the general fund.
 "PAR. 205l, Sec. 13.) It shall be the duty oi
 said loan commissioners to make full report
 of all their proceedings had under the
 provisions of this act 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. 2O52. Sec ID No bond issued under tho provisions of this act shall be taxed within thi SEC. l5. That nothing in this act shall be con strued to authorize any future increas, Of any indebtedness in excess of the liIai prescribed by the "IIarrison act" Provided however, That the present existing anC : outstanding indebtedness, together witt
 such warrants as may be issued for tn, , necessary and current expenses of car ! rying on Territorial, county, municipal, an, ! school government for the year ending Decem Der 3l, lS.O, may also be funded and bonds is sued for the redemption thereof; and thereafte no warrants, certificates, or other evidences 0 indebtedness shall be allowed to issue or b I 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 D, 1890