Arizona republican., 1898-01-27

and other eEldkncGS or 1n1eDteQneSS of the territAry of Arizona, and the counties, municipalities and school districts thereof, heretofore autho-- ized by legislative enactments of said territory bearing a higher rate of in- terest than is authorized by the afore- said funding Hct approved June 25lh, 1890, and which said bonds. warrants and other evidences of indebtedness have been sold or exchanged in good faith in compliance with the terms of the act of the legislature by which they were iaMi hOriZed, shall be funded. wf,h the interest which has accrued and may accrue until funded ito the lower interest bearing bonds as pro vided in this act.
 Section 2. That all bor1s and oh er evidences of indebtedness hereto- fore funded by the loan Commission CTS CT Arizona under the provis ions of Ine act of congress approved June 25th, 1890. and the act amenda ory thereof, and supplemental thereto approved August 3rd, 1894, are hereby declared to be valid and legal for the purposes for which they were issued snG funded; and all bonds and oL her eVldences of indebtedness heretofore issued under the authority of the leg lslature of said territory, es herein Derore au lhorized to be funded. are nereDy confirmed, approved and yali- oaleu, and may be funded as in this act provided until January 1st. 1897. provlded, that nothing in this art snail pc SD construed as to make the government of the United States lia- 'ole or responsible for the payment of any Of said bonds, warrants or other evidences Of indebtedness by this act approved. confirmed and made ya,id. and authorized 10 be funded.
 Approved June 9th, 1S96."
 Stress is put upon the c'ause ssUn- Ill January first, eighteen hundred and ndnety-seven". found in section one of the act, as bearing out the view that the purpose and intent of congress- was to limit the time within which the loan commissioners might act, and 10 require the completion ofI the work of funding, by the sale sx3d u1spositionl of bonds and the liQflida- ton of the indebtedness allowed by this and prior acts to be t6nrled. bv January 1st, 1897. Even were we re- stricted to Rhe more literal \meaniug of the words used in construing rem edial statutes of this kind, fhe mar row and circumscribed view thus talk en of the statute can hardly sEe justi- fled if regard be had to the whole of The statute including the D ain mr. pose of the act as expressed in itn title- In the latter, it is clearly stated to be an amendment of preyious sta4- utes and the extension and eularre- ment of their provisions. Agafn, an analysis of the body of the act bsarsI out the view that instead of the pur- pose being to limit or restrict the K ercise of any powers. rights or privi- legesi previously granted, the, legi isla- tivei will was to add to, extend and enlarge these.
 The finst section contatns tws xen< eral provisions; one authorizing the amendment of the Congressional 1et approved, respectively, June 25fh. 1890. and August 3rd, 1894, so as to in- clude in their provisions: "All out standing obligations of the territory. The other directing the funding of all Outstanding bonds, warrants and other evidences of indebtedness of the territory, az well as of the counties. municipalities and school districts thereof, which had been authorized by legislative enactmenas and which bore higher rate of interest than "a autnor1zed by the funding law. and which had been sold or exchanred in good faith.
 The second section likewise has rey- erence to two classes of indebtedness both of which are recoen;xeh ohvinne. ly so as to confirm, approve. v.l;defe and offcially fix their status as h d- \ins obligations upon the terri pry
 The acts of June 25th, 1890. and An
 2st Srd. 1894, being referred to. we
 et therefore consider the act of
 9th, 1896, in pari mate1i with the fd The former act confirmed an approved, with amendments chaI of title XXI of the rey.s- ed 4s. passed by the territo iaI legisll March 10th, 1887. These ameudl had reference to the rafe or inter Re time bonds issued for funding Ses should run, and as to WhI7t il pees might be fr ded the act be ded in this partic- uiar to ind pty, municipal and scnool 1nhe Congress added 10 the leg1sA ctmen. a provis- lon that in lated a class of obligations o valid, because incurred in vN the organic law of the terrN pund fnt the Harrison act" a \ed for the funding of all the Ming and outstanding indebted tbaf which might thereaftS Ie ced by warrants issued for sarv ana curent expenses of on territorial, county, mu pd school government for thd
 ing December 31st, 1890: an{
 the foregoing the declara.i}
 thereafter, no warrants. cS
 or other evidences of indeS,
 shculdl be allowed to issue or bH
 when the same is in excess of the N prescribed by the Harrison eot
 The act of August srd, 1894, pr\ vided:
 That act entitled An ac. app or ing With amendments, the funding act of Arizona, approved June 25th. 1890, and paragraph 2252 (sestion 15l Of said act, be and the same is here by amended by adding thereto as fol- lows:
 Provided, further, however, that the present outstanding war; nts cer-