The Arizona sentinel., 1891-02-14
AN ACT
'rO Authorize School IricES tO ESsue Bonds tO Build School Houses and 10
 E.iquidaTe 0utStand-
 ing Indebtedness.
Introducei hy Mir. L. II. Chalmers.

Introduced hy Mir. l.. Il. Chalmers.
 January B, 189l.-Read frs time and referred to Committee or
 Ways and Means. Read second time and referred to Committee or Education. Reported back with sub stitute and recommend it's passage. substitute adopted and 100 copie; ordered printed.
 Be it enacted by the Legislative
 Assembly of the Territory ol Arizona:
 ! SECTION I. The Board of Trus- tees of any school district may, when in their judgment it is ad- visable, and must, upon petition of a majority of the heads of fami- lies residing in the district, call an election and submit to the tax payers of the district whether the bonds of such district shall be issued and sold for the purpose of raising money for purchasing or leasing school lots, and for build ing one or more school houses, and supplying the same with furniture, necessary apparatus, and improv- ing the ground, and for liquidating any indebtedness: already incurred for such purposes.
 SEC Such election must be called by posting notices, signed by the Board, in three of the most public places in the district, for not less than twenty days before the election; and if there IS anewspaper published in the county, by pub fishing such notice therein not less than onco week for three success give weeks.
 i SEc. 3. Such notice mast con tain;
 1. The name and place Of hold ing such election.
 I 2. The names of three judges to conduct the same.
 3. The hours during the day 1 (not less than six hours) in which the polls will be ope9.------...----
 --+.-I=t.v-,, ,,,,rotlnJ and denomination of the bonds, the rate of interest, and the number of years, not ex- ceeding twenty, the whole or any part of said bonds are to run. i SEC. f. Such election shall be held, except as otherwise provided in this act, in conformity with the general election laws of the Tcrri- tory of Ariz}na, excepting the words to appear upon the ballots. which shall be "bonds, ye4,'' or bonds, no"
 SEC. ,. On the seventh dAy after said election, at one o'clock | P. m., the returns having been ; made to the Board of Trustees, the Board must meet and canvass said returns, and if it appears that two thirds of the vote cast at sai l elec- ton was in favor of issuing such bonds, then the Board shall cause an entry of that fact to be ma e upon it's minutes, and shall certify to the Board of Supervisors of the county all the proceedings had in the premises, and thereupon said Board of Supervisors shall be and they are hereby authorized and di- rected to issue the bonds of slch district, to the number and amount provided in such proceedings, pay able out of the Building Fund of such district, naming the same, and that the m ncy shall be raised by taxation upon the taxable prop. erty in said district for the rede np- Ii of said bonds and the payment of the interest thereon; provid d; that no school district shall issue bonds for the purposes herein SD ,ci- fled to an amount in the aggreg ttc, including its existing indebtedness, exceeding four per ccntum on the value of the taxable property. within such school district, to be ascertained by the last assessment for Territory and county takes previous to the issuing such bonds.
 SEC. 6. The Beard of Super Visors, by an order entcrel upon It's minutes, shall prescribe the form of said bonds, and of the in. terest coupons attached thar4!o. and must fix the tirne when ths whole or any pFrt of the princDa! of said bonds shall be p.-Yaale, v,L;.L cboll n,t ha ,, .l