Pine Bluff daily graphic., 1912-07-06


 III actual possession; also every deposit Whlch any person residing in this State o"hihS the same or holding in trust, or naNlng the beneficial interest therein IS entitled to withdraw in money on de nland within this State or elsewhere
 II; The term investment in bonds snail include all money invested in ponds or whatever kind or certificate oI indebtedness commonly called scrip | whether issued by incorporated or unn- i cofpoiated companies, towns. cities counties or states. held by persons re- sldlhs in this State, either by them- ee eites tt or ny others for them in or out or this State whether for themselves or as guardians. trustees or agents 1 IT. The term investments in stocks small De held to include all moneys invested in public stocks of any associa- t!oh corporation or joint stock com- l into shares. which are transferable by each owner without the consent of the othef owners or stockholders. and for the taxation of which no special provision residing in this State. either for them selves or as guardians, trustees, or agents or by others in or out of this State for them.
 l3. The term credits" shall be held to mean the excess of the sum of all legal claims or demands for money or other valuable things. or for labor or i service due or to become due, to the per-
 
 cludlng annuities, or sums of money re- celVed at stated periods. due or to be- come due, all claims and demands se- cured ny deed of trust of mortgages, que or to become due. when added to- gether lsuch claims or demands to be estimated at their full value in money) over and above the sum of the leHa ana bona fide debts owing by such per son. There shall not be taken into ac- count any obligation to any mutual in- sllrance company; nor any unpaid sub ! Scrlptlon to the capital stock of any Jolht stock company; nor any subscrip ton to any religious, scientific, literary or charitable purpose; nor any acknowl- edsment of any indebtedness unless i rounded on some considera tion actually received, and believed, at the time of making such acknOWle ledgment to be full consideration therefor, nor any ac- i Acknowledgement of debt made sor the pur- pose of diminishing the amount of credits to be listed for taxation; nor any greater amount or portion of any liability as surety than the person re qulfed to make the statement of such credits believes that such surety is in equity bound and will be compelled to pay or contribute.
 section o. No assessment of property TOT purposes of taxation and no tax authorized by law, levied upon any property by any officer or board au- thorized to make and levy the same. shall be held invalid for want of any matter or form in any proceeding which does not affect the merits of the case and which does not prejudice the rights or the party whose property is assessed or against whose property a tax Is levied All such assessments and levtes shall be presumed to be legal until the contrary is attirmatvely shown; and no sale of real estate for the non-pay- ment of taxes thereon shall be rendered invalid by showing that any certificate. return. affidavit or other paper. required 10 De made and filed in any office is not m such office, but until the contrary is shown the presumption shall be in all cases that such paper was properl, made and filed.
 Section [. All property subject to taxation shall be listed and assessed on February first preceding the assess ment
 Section 8. All property shall be as- sessed at its true and full value in money: In determining it's value the assessing and equaliZing officer or officers snail not adopt lower or different standard of value because the same is to serve as basis of taxation, nor snal1 Mnu1a the ne, price a,o for which property adepted as a criterion of value The officers. shall value each article or de seriptton of property by itself. and at sae sanm sun ta he or Rree as they believe the I In assessing any tract or lot of real estate the value of the land exclusive or structures and improvements shall pc determlned and also the value of all structures and improvements thereon and the aggregate value of all property including all structures and, improve ments. t.,i
 Section 9. At every general election an assessor shall be elected in each county in the State in the same manner as other county officers are elected The term of office of each assessor shall nesin the first day of January the year hn q n1n
 for two years, or until nls successor is elected and qualified. .r+I
 Section To. Every person elected or appointed to the office of assessor shall. his commission. and before he ouaiifies. enter into bond with the State of Ar kansas with good and sufficient security in the sum of not less than five thousand nor more than ten thousand dollars tthe amount to be fixed by the county court). conditioned for the faithful dis charge of his official duties Said bond shall be approved by the county judge. The assessor shall be liable on his of ficial bond to the State, county and each of the several school districts. road districts, cities and incorporated towns in his county for an damages sustained by the State county and each district or town by reason of any refusal on his part to assess any property at its true and full value in money or to dis charge any duties imposed upon him Dy law. or 10 dlScharge such duties in the manner prescribed by law. Such damages shall be recovered in the same manner as damages are recovered on other official bonds. The assessor shall. :, also at the time he qualities, take the oath prescribed by section 20, article 19, of Constitution of Arkansas, Failure to give the above prescribed bond or to take the oath shall be deemed to be refusal to serve.
 Section II. Every assessor, each year before he enters upon the discharge of his duties, shall. in addition to the oath prescribed in section 10 hereof take the following oath or affirmation. which oath shall be endorsed on each of the assessment books prior to their de- livery to the assessor:
 IT, ........., assessor for County. do solemnly swear that all real and personal property assessed by me will be appraised at its true and full value in money; that in no case will I Knowingly assess property at anything less. than it's true and full value in money; that I will not knowingly omit to demand of any person. of whom I may be by law required to make such demand. a statement of the description and value of the property which he may be required to list and that I will not l~, r,ix