Arizona silver belt., 1890-08-02
AS ACT As0~svhs WI ASS.A.ne, shs FsAs. hA Ass = AFAnuos

oi hMstlCd III SVuRfoss aHstHlpieu, snat the act sf the RsvissA Statutes of Arizo. na of 1887, known as "Title XXI Funding Dc and iS hereby amended e as to read as follows, and that as amend cd the sane is hereby approved and con ,irmtl, subject to future Territorial leg. islation: "Titls Funding and Loan. Chapter one. Territorial, csun- ty, municipal and school dstrict indebt- sdness,"
 PAR. 2039 (Ssc, 1. For the purposes sf liquidAtlng and providing for the pay msnt sf the outstanding and tristing in debtsdnsss of tho Territory of Arizona and such future indebtsdnsss as may Do or is nsv authorized by law, the Goysr- nor sf the said Territory, together with the Territorial Auditor and Territorial Secretary. and their successors in offics, shall constitute board of commissioners, to bs stylsd the loan commissioners of ths Territory of Arizona, and shsll have and sxerciss the powers and perform the dutiss hereinafter provided.
 PAR. 3O40. (Ssc. g. IL shall be, and is hereby declared tho duty sf tho loan commissionss to provide for the pay ment of tho existing Territorial indsbt- edness dus, and to become due, or that is now, or may be hereafter, authorized by law, and for the purpose of paying, redssn,ing and refundip. all CT any part of the principal aEd interest, or either of the existing and snbsisting Territorial legal indcbtednsss, and slso that which may at any time become dus, .r is now, or may bs hereafter authorized by law, the said commissioners shall, from time to time, is,ue negotiable coupon bonds of this Territory when the same can be done at lower rate of intersat and to the profit and benefit of the Territory
 PAR 204I. (Ssc [. Said bonds shall be issued as near a, practicable in dsnom- nations of one thousand dollars, but bonds of lower densmination, net less than two hundred and fifty dollars, may be issued when necessary. Said tonds shall bear interest at rate to be fixed by said loan commissioners, but in no csas ts exceed five Ter centum per an nun, which intersst shall be paid in gold com or its equivalent in lawful money of the United States, on ths fifteenth day of January in each year, at tho office of the Territorial Trea,ury, or at such bank in the city of New York, in the State of New fork, or in the city of San Fran. cisco, in the State of California, as may bs designated by said loan comuis, siouers, at ths opti,n of ths prfclss. CT of said bonds, the place of payment being mentioned in said honda The principal of said bonds shall bs made payable in lawful money of tho United States, fifty years after the date of their issue, but may Do rsdssnsd after twenty years,
 They shall bear the dats sf their is- sue, state when, where, and to whom payable, rats of interest, and when and where payable, asd shall be signed by ,sid lean commissioners, and shall have the seal of the Territory alfred thereto, and coustcrsignsd by tho Territorial Tresurer and bear his official seal, and shall bs registered by the Tsrritorial Auditor in book to be kept by him iof i .ha purpose, which shall stats amour. sold for, cr. if exchanged, for what, and the faith and e;adit oi the Territory is hereby pledged for ths payment of said bonds and the interest Accruing thereon, As herein provided.
 PAR 2042. (ssc. { Coupons for tb, interest shall bs attached to each bend so that they may be removed without injury CT mutlstion to ths bond. Thsy shall De consecutivsly numbered ant bear the sams number of tho bond t, which thsy are attached, and shall b, signed by tho Territorial Treasurer.
 "Ths said coupons shall covsr ths in
 t.rest expressed in said bond from thi
 date of issuc until paid; but in no eaa'
 shall bonds bear interest, nar shall an,
 interest ls paid thereon for spy tins be
 fore their. delivery to the purchaser, a
 hereinafter provided.
 "PAR 20A3 (Sec. 5 Whenever tn
 said loan commissioners may be author ized by law to issue bonds, or shall hay decided to refund or redeem all or sn part of the e1isting indebtedness of thi
 Territory, they shall direct ths Tsrrito
 rial Treasurer to advertise for sale c , tho bonds ts be issued Tor that purposs by causing a notice of such sale to b published for the period of one month i
 some daily newspaper published ct tn capital of the Territory, and at least on insertion in a.newspaper published in th 2 city of New York. in the State of Ne e York, and in the city of San Francisco t in the State sf California; such notic T shall specify tho amount of bonds to | q sold. the place, day and hour of sale, an s that bids win be received by said trsas' l Ter for the purchase of said bonds withi
 one month from the expiration of sai
 publication; and at the placs and tim s named in said notice the said trcasur' | and loan commissioners shall open a > bids received by him and shall award Il a l " a..n. ....