Arizona republican., 1901-01-04
BONDING BILL DONE
CONTINUED From First Page.)

to the credit % a bond redemption
fund. At the time of making Its an
nuai statement to the board of SUPER
'visors of Marlcopa county. this board
shall cause to be paid to the county
treasurer such surplus as may have ac-
crued. and he shall apply the same to
the credit Of bond interest fund. II
sufficient money shall not be realized
each year from the surplus paid in by
the board Of water storage commits
sioners. to pay the interest on said
bonds. the board OF supervisors OF
said county of Maricopa, to supply the
deficiency. shall annually, at the time
of levying taxes therein, cause to be
levied each year upon the taxable prop
erty of the said county. In addition to
the other authorized taxes. a suffi-
Client additional sum. to pay the inter-
est on the bonds issued and disposed
of under the provisions Of this act. Ten
Q0) years after such bonds shall have
been issued, such additional amount
shall be levied annually as will. In ad-
dltion to the amount remaining In the
bond interest fund. pay two and one
half per centum (21e) of the total
amount issued. until all bonds issued
under the provisions of this act are
paid and Cancelled. All money collect
ed in said county for the payment of
the principal of said be ads together
with the money remaining In the in
terest FUND. after the interest for the
current year has been paid, shall be
paid into g bond redemption fund. by
the county treasurer. and whenever
ten thousand dollars 100000 has ac-
cumulated in said fund he shall use
the same to purchase. in the open
market, outstanding bonds of the
county issued under the provisions of
this act and cancel the same as other
indebtedness of the county Is cancelled,
until such time as said bonds may be
called for redemption: after which
time said county treasurer shall call
said bonds for redemption, commence
ing with the lowest number then out
standing, and call them consecutlvely.
giving thirty days notice by publica-
ti0n In a daily newspaper published In
the city of New Yo.k and the official
newspaper published in the county of
Maricopa. The interest on said bonds
shall .ase at the expiration of thr
time Of said notice.
SEC ZION TX.
Any failure to comply with the pro-
visions of this act by any officer or
other person, charged with the per-
Torrance thereof, shall be deemed a
felony, and upon conviction thereof in
court having Jurisdiction, the per-
son so convicted shall be fined an
amount not TO exceed five thousa nd
dollars $5,000) and not less than two
thousand dollars $4,000 or be impris-
oned for not less than one % and not
more than tn Q0) years. or both such
fine and Imprisonment. In the discre-
ton OF the court.
SECTION X.
II said county OF Maricopa shall is
sue Its bonds for two million dollars
($2000. 000). or less amount, under the
provisions Of this act. the United
States hereby guarantees the payment
OF the interest upon said bonds, and
the secretary of the treasury shall
make such provisions as may be nec-
essary 20 effectuate this guaranty.
And. in consideration of this guaran-
ty 1t shall be the duty Of the said
board OF water storage commissioners,
after said storage works are In opera
ton. to deliver to the Salt river res
ervaFion, for the use of the Indians In
the cultivation of their crops thereon.
an additional daily flow of water of
seven hundred thousand (7O0,0OO) gal
Ions or so much thereof as may BE- nec-
essary to cultivate their crops.