The copper era., 1909-03-04
COUNTY DIVISION BILL.
Continued from first page.

of Graham and Greenlee shall on the second Monday after the organiZa- tion of said county of Greenlee, meet at the office of the clerk of the board of supervisors of Graham county, in Solomonville, and ascertain the eX- act amount of the total indebtedness of said Graham county at the date of the beginning of this act, and shall make dupliCac itemized lists there of, each of which, and of the lists and statements in this section pro- vided, shall be certified by the chair men of the respective boards of supervisors as correct, one Ot which lists or statements shall be retained oy each of the boards of supervisors IS part of the public records of their respective counties. They shall also, at said time and place, make duplicate lists of all property, real, personal ani mixed, including all public improvements and money in
 the treasury, owned by or belonging
 to the said county of Graham at the time of the passage of this act, and
 assess the value of the same at the date of the beginning of this act.
 They shall also, at said time and place
 make duplicate statements of the en- tire assessed valuation of all property
 
 the last assessment roll of said coun- ty, which statement shall show what
 portion of the entire valuation is in- | cluded within the area herein em- | braCed within the boundaries of Greenlee county, so ascertained, shall bear to the entire valuation, shall fix the amount of the liability of Greenlee county for the public debt of Graham county as determined by said boards of supervisors, and che amount remaining shall be the dsCertained indebtedness created and incurred by and on account of that portion of Graham county which comprises the said county of Green lee, and is all the existing legal in debtedness of said county of Green lee, and for the payment of which che said county of Graham is now Obligated, and which shall be paid by the said county Of Greenlee to the county of Graham, as hereinafter provided; and then the total indebt- cdness of the county of Graham at the date of the passage of this act shall be paid by the county of Green lee, provided, however, that should the board of supervisors of either of said counties fail, refuse or neglect to meet at the time and place and
 for the purpose above mentioned, then the board of supervisors, which does assemble, are hereby authorized to meet at the said time and place and perform the duties in this sec tion directed, and to certify the lists and statements herein mentioned, by the chairman of said board ot super visors: and said lists, so certified, shall be and become d record of each of said counties of Graham and Greenlee, as above provided.
 Section 16. The board of super visors of said County of Greenlee as soon as the said indebtedness men tioned in the next preceding section shall be ascertained, shall meet at the County seat of said County, and
 for the purpose of paying, redeeming
 tnd refunding the existing indebted ness of said County as in the preced- ing section stated, issue negotiable coupon bonds of the said County of Grcenlee bearing interest at the same rate per cent per annum as the public debt of Graham County bears at the
 Cime this act goes into effect, paya ble
 Jn the second day of January in each year. The principal and interest
 shall be payable in gold coin of the United States, at the office of the treasurer of said Graham County.
 Zach of said bonds shall state upon it's face the amount for which it is issued.
 which shall be in the sum of One Thousand Dollars and a fractional
 mount for the last bond, when and where payable, date of issue, time md place of payment, payabl to the County of Graham, Arizona, or it's order, rate of interest, and rtCitc that it is issued in conformity with
 this act.
 The principal of said honds shah be
 paid as follows: Ten (lO) per cent of ! the total amount issued in ten years from date of issue. and ten (l0) per cent of the total amount issued an nually thereafter, until all of said bonds shall be paid: provided, that the said board of supervisors of said Grecnlee County may make all or any of said bonds redeema able, an earlier date: the said bonds shall be signed
 by the chairman of the said board of supervisors, and shall bear the official seal of said board, and shall be signed
 by the treasurer of said County, and shall bear the seal of his office, and they shall be Consecutively nun be rel. and there shall be attached to each, and bearing the same number, an- nual interest coupons covering the interest expressed in said bonds. Said coupons shall be signed by the chairman of said board of super visors, and by said treasurer, and shall be so affixed to said bonds as to be removed therefrom without mutila- ting the same; provided, that the bonds of Greenlee County issued un-
 Ter the provisions of this act, may,
 It any time before, they become due,
 oe redeemed by the said County of
 ireenlee upon paying the holder thereof the amount of the principal
 md interest then due thereon, or by giving in exchange therefor terri lorial funding bonds of like amount, at the option of said holders of said bonds.
 Section IT. The said bonds shall be at once delivered to the treasurer of said Graham County, who shall re- ceive 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 10 take, own and hold the said bonds, and through it's board of supervisors, dispose of and transfer the same for the benefit ot 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 thereof: that all moneys realized from the sale of such bonds shall be applied to the i,l la of iA