Arizona republican., 1890-07-11

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
 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, mum eipal, 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 Do 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 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- 'erest paid by the Territory on such bonds
 of redeems any indebtedness he shall indorse. by writing or stamping in ink on the face of the paper evidencing such indebtedness 80 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 fbonds 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 its meeting. All books and papers 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 a
 
 "PAR. 2o50 lSec. l2) 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 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. 205i, (sec l8) It shall be the duty of said loan commissioners to make fun report of all their proceedings had under the before the first day of January of each year, and said reports shall be transmitted by the Govern or the Territorial legislative assembly.
 provisions of this act shall be taxed within this Territory"
 SEC: l5, That nothing in this act shall be con
 rusd amy u1s ,bs %s prescribed by the Harrison act" Provided, however, That the present existing and outstanding indebtedness, together with necessary and current expenses of car rying on Territorial, county, municipal, and school government for the year ending Decem- Der Sl, 1S9J, 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"
 All acts or parts of acts in conflict with this act are hereby repealed.