Arizona republican., 1890-07-18

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, nf 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, in the same manner us 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. 2Oi9 (Sec. H. When the treasurer pays of redeems any indebtedness he shall indOrse.
 by writing or stamping in ink on the face oi 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 this 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 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 a 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, fl 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 of 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 or the Territorial legislative assembly.
 PAR. 20j2 Sec. ID 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
 of any indebtedness in excess of the limit
 prescribed by the Harrison act" Provided,
 however, That the present existing and
 outstanding indebtedness iogetbher, ,o with ,tn
 necessary and current expenses of car. rying on Territorial, county municipal, and
 school government for the year ending Decem- Der Fl, 1890, 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 he sam same is in excess Of the limit All acts or parts of acts in conflict with this
 act are hereby repealed