Page:United States Statutes at Large Volume 33 Part 1.djvu/236

 148 FIFTY-EIGHTH CONGRESS. Sess. II. Ch. 817. 1904. levy shall be determined by the board of equalization, which said board shall notify the proper county officer of each county of the amount of said tax levy, and the tax when collected shall be paid into a separate fund, to be known as the interest fund for the payment of interest on the bonds of the Territorial Asylum for the nsane. If any surplus remains in the said interest fund after the payment of interest then due, the boardof control ma by resolution transfer the said surplus remaining in the interest fund, of the Territorial Asylum for the Insane to the bond-redemption fund for the Territorial Asylum for the Insane. mm! *“d· "Sr:c. 7. Fifteen years after the date of this act, in the year nineteen hundred and eighteen, and annually thereafter and until the bonds as herein provided shall have matured, there shall be levied an additional tax upon all taxable property, real or personal, in the Territory of Arizona in the same manner as other taxes are levied to create a sufficient sinking fund to redeem the bonds as herein provided when the same shall have become redeemable or due and yable. "The manner and amount of each tax levy shallpa be determined as provided in sections five and six_ of this act for thepayment of interest on the bonds, except that the money shall be ke t in a separate fund by the Territorial treasurer, which said fund sliall be known as the sinking fund for the redemption of the bonds of the Territorial Asylum for the Insane. M’°’“°°'¤°¤*- “Sec. 8. Whenever, after the expiration of the twenty-five years from the date of the issuance of any bond under this act, there shall be in the sinking fund for the redemption of bonds of the Territorial Asylum for the Insane the sum of two thousand five hundred dollars or more, it shall be the duty of the Territorial treasurer to advertise for the space of thirty days, in like manner as hereinafter provided. for the sale of said bonds, which advertisement shall state the amount in the sinking fund, and the number of bonds, numbering them in the order of their issuance, beginning with the lowest number then outstanding, which said fund is set apart to pay and discharge, and if said bonds so numbered in such advertisement shall not be presented for payment and cancellation at the expiration of said publication, then said fund shall remain in the treasury to dischar such bonds whenever presented, but each bond so advertised shall dfaw no interest after such publication. Before any such bonds shall be paid the shall be presented to the Territorial auditor, who shall indorse on each bond the amount due thereon, and shall write across the face of each and the date of its surrender and the name of the person surrendering e same. Asylum for the Insane, the boa of control of the Territory of Arizona shall cause notice of such sale to be published for the space of thirt days in four daily newspapers publis ed in the English language, as follows: "One in the city of New York, State of New York. “One in the city of Chicggo, State of Illinois. "One in the city of San rancisco, State of California. "One in the city of Phoenix, Territory of Arizona. " Such notices shall specify the amount of the bonds to be sold, the rate of interest they shall bear, or in lieu of a fixed rate of interest a request for bids for the lowest rate of interest on the par value of said bonds, or both said proposals, as the board of control may determine, the place, date, and our of the sale. The sealed proposals shall be received by the said board of control for the purchase of said bonds. within one month from the expiration of said publication, and at the place and on the date and hour named in said notice. Said board of
 * °“°°°"“°- “'Sec. 9. Before the sale of alny of the said bonds of the Territorial