The Arizona sentinel., 1891-02-14

I ing Fund of said district, and be drawn out for the purpose afore-
 said, as other school moneys are drawn.
 Sxc. s. The Board of Supervis-
 ors at the time of making the levy
 of taxes for county purposes, must
 levy 8 tax for that year upon the
 taxable property i'll such district,
 for the interest and redemption of said bonds, and such tax must not be less than sufficient to pay the
 interest of said bonds for that year,
 and such portion of the principal
 as Is to become due during such
 year, and in any event must be
 high enough to raise, annually, for
 the first half of the term said bonds
 have to run. sufficient sum to pay
 the interest thereon, and during the balance of the term high enough
 to pay such annual interest, and 10 pay, annually, a portion of the principal of said bonds equal to a sum produced by taking the whole
 amount of said bonds outstanding and dividing it by the number of years said bonds then have to run: and all money 50 levied when col lcctcd shall be paid into the County Treasury to the credit Of the Build ing Fund of such district, and he used fot th, payment Of principal
 and interest on s2i,l bonds, and for
 no other purp SC. The principal
 and interest on said bonds, shall be paid by the County Treasurer, upon the warrant of the County School Superintendent out cf the fund provided therefor; and 1t shall b" the duty of the County School Sup
 erintendent to cancel and file witii the Treasurer the bonds and coupons as rapidly as they are paid.
 SEC. 9. If tue Board Of Super yi5ors of any county, which has issued bonds under the provisions 0i this Act, shall fali to make the levy necessary to pay such bonds
 or interest coupons at maturity,
 and the same shall have been pre- sentcI to t C County Treasurer. and the payment thereof refused,
 the owner may file the bond, to- setaer with all unpail coupons, with the Territorial Auditor taking
 his receipt therefur, and the same shall be registered in the Terri torial Auditors office; and the Ter ritorial Board of Equalization shall, at their next session and at each annual equalization thereafter, add to the Territorial tax to be levied in said district, a sufficient rate to realize the amount of principal or interest past due prior tonext levy, and the same shall be levied and collected as part of the Terri toTial tax, and paid into the Terri tnrial Treasury. and passed to the special credit of such district bond tax, and shall be pail by warrants, as the payments mature, to the holder of such registered obliga- tions as shown by the register in the office of the Territorial Auditor until the same shall be fully sati5- fled and discharged; any balance i then remaining being passed to the general account and credit oi said 1 district. l
 SEC. 10. Whenever any bonds issued under the provisions of this Act shall remain unsold for the period of six months after having : been offered for sale ill the man. ! ner prescribed by the Board of Sup ] eryisJrs, the Board of Trustees, of ] the school district for or on account ! of which such bonds were issued, or of any school district composed wholly or partly of territory which ! at the time of holding the election mentioned in section four was en- braced within the district for on account of which such bonds xere l issued, may petition the Board of ! Supervisors to caase such unSold | bends to be withdrawn from mar kct and cancelled. Upon receiving saeh petition siga"d by majority ot the members of saii Board of. Trustees the Supervisors shall fix d lia.e for hearing the same. which h, T ,-~r 1a ,,,au, ,o,, tl,; ;.: 2, ,..,--,