The Nevada County picayune., 1912-07-05

person Who owns, or has in his possession or subject tO his control. with authority to sell the same, any personal proDerty within this State. purchased with the View to sale at an advanced price or protlt, or which has been consigned to him Tor sale
 z. "Nauufag tuner" shall include every person who purchases receives or holds personal property of any description For the purpose of adding to it's value by any process of refining manufac- turc. recttfylng or by the combination Of different materials With the view of making a gain or profit thereby.
 .. Money or moneys" shall be held to mean gold or silver coin treas ury notes, bank notes and other forms of United States currency in common use m actual possessions. also every deposit which any person residing in this State, owning the same or holding in trust. or haNlnR the beneficial interest therein is entitled to withdraw in money on de- mand within this State or elsewhere.
 II. The term investment in bonds shall include all money invested in bonds of whatever kind or certificate or indebtedness commonly called scrip, whether issued by incorporated or unin- eorporated Comranies, towns. cities. counties or states. held by persons re sldlng in this State, either by them selves or by others for them, in or out of this State whether for themselves or as guardians, trustees or agents
 F. The term investments in stocks shall be held to include all moneys invested in public stocks of any asSocia tlon corporation or joint stock con- com, nany whose stock or capital is divided into shares, which are transferable by each owner without the consent of the other owners or stockholders. and for the taxation of which no special provision is made by this Act. held bv persons reslilng in this State, either for them selves or as guardians, trustees, or agents or by others in or out of this State for them.
 13. 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 service due or to become due. to the per son liable to pay the taxes thereon, tn- ceived at stated periods due or to be- come due, all claims and demands se- cured by deed of trust of mortgages. due or to become due, when added to- eether (such claims or demands to be estimated at their full value in money) over and above the sum of the legal and bona fide debts owing by such per son. There shall not be taken into ac- count any obligation to any mutual in surance company; nor any unpaid sub seription to the capital stock of any loiut stock company, nor any subscrlp- tion tu any religious, scientific literary or charitable purpose. nor any acknowl- edgment of any indebtedness unless founded on some consideration actually received and believed, at the time of making such acknowledgment, to be full consideration therefor nor any ac- knowledgment of debt made for the pur- pose of diminishing the amount of credits to be listed for taxation; nor any greater amount or portion of any liability surety than the person re- auired to make the statement of such credits believes that such surety is in equity bound and will be compelled to pay or contribute.
 Section 6. No assessment of property for 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 of the party whose property is assessed or against whose property tax IS levied. All such assessments and levies shall be presumed to be legal until the contrary is affrmatiVely 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 to be made and filed in any office is not in such office. but until tle contrary is shown the presumption shall be in all cases that such paper was properly made and filed.
 Section '. All property subject to taxation shall be listed and assessed every year with reference to its value on February first preceding the assess ment.
 Section &. All property shall be as- sessed at it's true and full value in money. In determining it's value the assessing and equalizing officer or officers shall not adopt a lower or different standard of value because the same is to serve as basis of taxation. nor shall the price for which property would sell at auction or forced sale be
 II officers shall value each article or de scription of property by itself and at such sum or price as they believe the same to he fairly worth In money.
 In assessing any tract or lot of real estate the value of the land exclusive of structures and improvements shall be determined. and also the value of all structures and improvements thereon and the aggregate value of all property including all structures and improve ments.
 Section Q. 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 begin the first day of January the year after he is elected and shall continue for two years. or until his successor Is elected and qualified
 Section 10. Every person elected or appointed to the office of assessor shall, within thirty days after the receipt of his commission, and before he qualities 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 te be fixed by the county eourtl. 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 Gcial bond to the state county and each of the several school districts road districts. cities and incorporated towns in his county for all damages sustained bv 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 Charce any duties imposed upon him by law. or to discharge such duties in t6e 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 70 of Constitution of Arkansas Failure to give the above preseribeI hond or 10 take the oath shall be deemed In he refusal to serve.
 Section H. Every assessor, each year nofore he enters upon the discharge of lie dnties shall. in addition to the oath