Arizona republican., 1890-08-22

date of it's surrender and and the name of the
 person surrendering. 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 tn 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 for
 the redeeming or refunding of the county, mum 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 rate of in | terest paid by the Territory on such bonds. | "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 eYidencing 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
 islature 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
 joint committee of both.
 "PAR. 20j0. (Sec. l2.) It shall be the duty of | the Territorial treasurer to pay the interest on
 said bonds when the same falls due ont 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 auditor shall first draw his warrant on the Ter
 ritorial treasurer, payable to the order of said | treasurer, for the amount Of such deficiency
 out or the general fund.
 "PAR. 2O5l, Sec. l3.) It shall be the duty of
 said loan commissioners to make a 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 Govern | to the Territorial legislative assembly.
 "PAR. gOj2. (Sec li) No bond issued under the
 provisions of this act shall be taxed within this
 SEC; l5. That nothing in this act shall be con
 strued to authorize any future increase
 ol any indebtedness in excess of the limit prescribed by the "Iiarrison act" Provided, | however, That the present existing and outstanding indebtedness, together with
 such warrants as may be issued for the | necessary and current expenses of car rylng on Territorial, county, municipal, and school government for the year ending Decem- | Der 3l, lo9O may also be funded and bonds is | sued for the redemption thereof; and thereafter | no warrants, certificates, or other evidences of indebtedness shall be allowed to issue or be | legal where the same is in excess of the limit | prescribed by the "Harrison act"
 | mat all acts or parts of acts in conflict with | this act are hereby repealed
 | APPROVED. June 2j. 1890