Rio Grande Republican, 1889-03-23

croe op to the 1st day of July, A. 1)., ISO. caiu couniien aro uiso auinor. iaeil and. empowered to refund any bonded indebtedness, with lb inter interest - est interest thereon, wbcre the same cau be done under tho provisions of this act, so aa to enable such county or cum tics to refund t iowcf rate rrf in interest - terest interest than is now being paid upon such bonds, and" all bonJV so Cx Cx-ohanged - ohanged Cx-ohanged or sold shall be exchanged and sold aV4hir par er faeo value, j Bee. 2. In order-to enable the soanty commissioner to place the finances ol any county upon a cash j basis, such county ninm!;oterg aii; hereby authorised to tssus coopou bonda, such aa are provided lor by : this act, from time ! time af;ert'uv 1st day of July, A. D., lssi, to mei the current expenses of tiie county. Such bonds to be isad at aueh times and in such quantities as ia Judgment of said eom-uissionerfi may be expedient and lhos.imo sha'l be sold MjMceJtanjred lor ca?i at a di roa nt of not more Vbun 5 per cent on their par or laee value, Provided, that no bonds shall be itsned or sold by virtue of this section aitcr the lt day ol January, A. !., l!D0, unU-as thore be enough money in the coun ty treasury lor all county purpfwe hereafter all taxes arinuany" levied for county purposes shall bo appro priated and used exelusireiy to meet and pay the current expenses of the county for the .year fiiececding that in which each taxes bavo been levied. te (he extent that such taxes have bees collected prior ta and during said last mentioned year. Provided, that all delinquent taxes of preyed inz yean shall be applied when col - Jecled, to- pay the -current expenses ; o( the county as they accrue. Pro Pro-Tided - Tided Pro-Tided further, that il at any Urna the taxes eol'-eeted during any year shall not be sufficient to meet (lie curren expense of such county for the succeeding y ear, V en it shall be law ful at the next annual lew-of taxes for the connty immissloners of sneh county, to maleo an additioual levy not to exceed 1 1 ol' 1 mill on each tl of taxable roperty in such cauo ty, lor the jiurposo of makrni up such deficit in the Current expenses 01 saco county, See. 8. Any and all bonds issued under the provisions of this act. hall be of the denominations of $100 each or some multiple thereof, and - idsji bear lotorvst at a rate ot tl per Centura per annum, payable remi annually on the first day of January ana July of each yesr; both pnnci pal and interest shall be parable at tb OIBcsj id the ..county treairarer of such county issmitir such bond or bonds, or at such place a tho county commissioners - designated and all option of the county t'ommisaiorers Issuing tho same, in- tea . rcar, and absolutely due and payable thirty . years after tha dato thereof. Seo. 4. At any "time sfter this set mm Into tffeot the holder of any warrantor warrant oetstandrne on - the 1st day of July,-. I). 1S89, ntounting with accrued intereM looreon to 1100 or tnor.v rosy sp-1 piyto the probate clerk, and ex ex-, - , ex-, officio countr clerk, of said county for bonds of the kmd bcreinhelore described in exchaRire for suc h war fant and interest accrued therccn, duilaf , tor datlor, and any count v taking the benefit of this -act shall com putsv the in terest of sued w ar- ran is, from the date of iheir aso aniil taken up, at the rate of 8 per cent per annum. The county com aawajioner of each county shall there po execute such bond or bonds and detlrer the-same tii (he bolder ol ; such wiirrnnls; andifor ny ..balance Of sneh warrants and inler n aforesaid, ever lte amount of iirtfiis V'lsee4.t aforeaaut. !h bosrdVot coemy eootnttmutnurs Itall l tif imnor r owners tliereot a e "wsrrsHl, afuilhr to tb COUiHi War-