Graham guardian., 1909-06-18

ham, Arizona, or its order, rate
of interest, and recite that it is is.
sued in conformity with this act.
The principal of said bonds shall
be paid as follows: Ten (l0) pei
cent. of the total amount issued in
ten years from date of issue, and
ten (l0) per cent. of the total
amount issued annually thereafter,
until all of said bonds shall be
paid; Provided, that the said board
of supervisors of said Greenlee
County may make all or any of said
bonds redeemable at an earlier date;
the said bonds shall be signed by
the chairman of the said board of
supervisors, and shall bear the Off
cial seal of said board, and shall be
the treasurer of said county, and
shall bear the seal of his office, and
they shall be consecutively num-
bered, and there shall be attached
to each, and bearing the same num-
ber, annual interest coupons cover
ing the interest expressed in said
bonds. Said coupons shall be signed
by the chairman of said boards of
supervisors, and by said treasurer,
and shall be so affixed to said bonds
as to be removed therefrom with
out mutilating the same; Provided,
that the bonds of Greenlee County
issued under the provision of this
act, may, at any time before they
become due, be redeemed by the
said county Of Greenlee upon pay
ing the holder thereof the amount
of the principal and interest then
due thereon, or by giving in ex-
change therefor Territorial funding
bonds of like amount, at the option
of said holder of said bonds.
Section Is. The said bonds shall
be at once delivered to the treasurer
of said Graham County, who shall
receive the same as the property of
said county, and shall stand charged
upon his official bonds for the same,
and the said county of Graham is
hereby authorized to take, own and
hold the said bonds, and through it's
board of supervisors, dispose of and
the same for the benefit of
said county. Such transfer shall be
made by the endorsement of the
chairman of said board, attested by
the clerk of said board with the seal
Provided, that all moneys
realized from the sale of such bonds
shall be applied to the present ex-
isting legal bonded Indebtedness of
said Graham County, for which said
Greenlee County bonds were issued.
Section 16. The board of super
visors of the said county of Green
lee shall cause to be assessed and
levied each year upon the taxable
in said county, sufficient
sum to pay the interest on all bonds
issued in pursuance of this act; Pro-
vided, that in the year 1921 and
every year thereafter, until both
the principal and interest of the
bonds which have been issued under
this act shall have been paid, they,
the said board of supervisors, shall
levy such further and additional tax
as may be required to raise a sum
of money sufficient to pay and re-
deem such amount of said bonds as
they become due, and pay the in
terest thereon annually, as will in
sure the redemption of the whole of
said bonds within ten (10) years
from the year 1921; and Provided
further, that the said board of su-
pervisors may, prior to the said
year 1921, prepare for the payment
and redemption of said bonds by
assessing and levying the taxes here
in authorized and directed for that
and all taxes shall be as
sessed, levied and collected in the
manner and at the time provided
for by the general revenue laws of
the Territory for levying taxes
therein, and shall become lien upon
the property assessed, as in the case
of other county taxes.
Section II. If sufficient money
shall not be realized each year from
the collection of taxes to pay the
principal and interest of said bonds
when due, the deficiency shall be
paid by the treasurer out OF the
general funds of said county. If
any money remains after paying
such principal and interest from the
taxes collected each year after the