Williams news., 1905-04-29
Comply With the Law

following letter from the district attorney, which is a copy of that sent to the beard of supervisors. The letter is self-explanatory:
 FLAGSTAFF, April 24, 1905. To the Honorable Board of Super
 visors of Coconino County, Ari-
 zona:
 Gentlemen:-I have the honor to direct your attention to Act. No. 56 of the Acts of the Twenty-third Legislative Assembly of the terri tory of Arizona, approved March 16, 1905, which Act relates to pub lie monies, and in connection there with beg leave to say: That, in ac- cordance with paragraph 1903 (Sec ton 76), Revised Statutes of Ari zona, 1901, your honorable body and the district attorney proceeded to count the county money in the treasury of Coconino county, and thereupon ascertained that about eighty-one thousand ($S1 ,OOO) dol lars of the county money is now on deposit with the two banks and with firm doing business in this county; that is to say:
 $47,OOO deposited with the Ari- zona Central Bank;
 $23,0O0 deposited with Babbitt Brothers;
 $11,OOO deposited with Gosney & Perkins Bank
 It was further ascertained that none of the money so deposited with said banks and said firm is protected by bond in favor of and running to the county, and it was still further ascertained that the banks and the firm were not paying interest to the county upon the same as required by law.
 Neither the county treasurer, nor any other county official, nor said banks, nor said firm is in the slight est degree censurable for the above status of said moneys, and all the parties supra have acted in entire good faith in the premises, and the various deposits were made with such banks and such firm and the deposits were accepted by them with view of promoting the pub lie welfare and protecting county monies. Moreover, it is perfectly obvious that no other or different course could have been pursued by the treasurer for the reason that (until the passage of said Act 56) the law governing public monies was so ambiguous and contradic- tory as to be, almost, insusceptible of any intelligent construction, but said Act 56 relieves the Revised Statutes of 1901 of it's ambiguity upon this particular subject, and such Act is clear, certain, and now in effect. Therefore, your honora ble body should proceed to secure bond from those who have, or may desire to receive on deposit, county monies, which bond should have good and sufficient sureties, and which sureties should not be stock holders in any bank receiving such county money, and the penalty of such bond under the law must not be less than double the amount of money loaned under the same.
 Further, the county treasurer for and on behalf of the county should proceed to collect interest on such sums so loaned, which interest should be calculated on daily bal ances and credited monthly to the county. Section 8 of said Act 56 provides that such rate of interest shall not be less than 1 per cent per annum, but considering that the prevailing rate of interest here is somewhat in excess of 1 per cent per annum, doubtless those with whom the said money is de posted will be willing to pay, with, out solicitation, higher rate to the county than the 1 per cent per annum.
 Therefore, 1 ask your honora ble body to notify the parties who now