Page:1887 Territory of Dakota Session Laws.pdf/341

Rh a sinking fund tax shall be annually levied, sufficient to retire and pay said bonds at their maturity; and it shall be the duty of the Territorial Treasurer to pay promptly on the first day of July and January in each year, such interest as shall then be due and to purchase said bonds at not more than their par value, and retire and cancel the same with sinking fund tax as fast as the same shall be received; and no tax or fund provided for the payment of such bonds, whether principal or interest, shall at any time be used for any other purpose.

§ 4. .] If for any reason the Territorial Treasurer shall not have in his hands sufficient of the funds herein provided, to pay, either principal or interest upon such bonds when due, he shall pay such interest or principal out of any other unappropriated funds belonging to the Territory, and there is hereby appropriated and set apart out of the general fund belonging to the Territory, a sum sufficient to pay said interest on such bonds as may become due before the funds and tax herein provided can be made available. And it shall be the duty of said Treasurer to pay said interest promptly at the time it falls due out of said funds. All moneys belonging to the general Territorial fund applied by said Treasurer in payment of either principal or interest of said bonds shall be replaced from the special tax levied to pay the same.

§ 5. .] It shall be the duty of the Territorial Auditor to issue his warrant upon the Territorial Treasurer for such sums as may be required in the progress of the work or improvements of the penitentiary, upon vouchers issued by the order of the board of directors, attested by the secretary or warden and approved by the Governor of the Territory.

§ 6. .] In case of the division of the Territory of Dakota, that part of said Territory in which said penitentiary is situated, shall assume and pay said bonds and coupons which are issued by virtue of this act.

§ 7. This act shall be in force and effect from and after its passage and approval.

Approved, March 11, 1887.