Arizona republican., 1890-09-03

date of it's surrender and and the name of the person surrendering The Territorial Auditor shall keep a 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 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, nf their bonded and outstanding indebtedness and said loan commissioners shall provide Tor the redceming 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 in addition a rate of in | teTest paid by the Territory on such bonds. l "PAR. 20i9. (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 | 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 to the inspection of the
 party interested or the Governor, or com mittee of either branch of the legislature, or q l joint committee Of both.
 ''PAR. 20jO Sec. l2) It shall be the duty Of
 the Territorial treasurer to pay the interest on l 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 oi the general fund; Provided, That the Territorial
 auditor shall first draw his warrant on the. Ter
 ritorial treasurer, payable to the order ot said treasurer, for the amount of such dehcienc! l out of the general fund.
 "PAR. 2O5. Sec l3) It shall be the duty o
 said loan commissioners to make full repor
 of all their proceedings had under tho
 provisions of this act Co the Governor on ol
 before the first day of January of each year, anc
 said reports shall be transmitted by the Govern
 to the Territorial legislative assembly.
 "PAR. 2O52. Sec l4) No bond issued under th'
 provisions of this act shall be taxed within thii
 SEC. l5 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 "Harrison act" Provided
 however, That the present existing anC outstanding indebtedness, together wtl
 such warrants as may be issued for thu necessary and current expenses of ear rying on Territorial county, municipal, san' school government for the year ending Decem Der 3l, 1890, 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 "HarrisOn act"
 That all acts or parts of acts in conflict wit 1 this act are hereby repealed.
 APPROVED. June 25 1890