Public Law 57–1077

That the county of Navajo, Territory of Arizona, be, and is hereby, authorized and empowered, through its board of supervisors, to refund the outstanding county indebtedness of said county, which said indebtedness is evidenced by bonds of said county numbered thirty and seventy-three, inclusive, payable to Apache County, Arizona Territory. Said bonds are in the sum of one thousand dollars each, interest payable annually on the second day of January, at the rate of six and one-half per centum, together with ten thousand dollars of the principal each year.

Sec. 2.

That the said board of supervisors is hereby authorized to refund said bonded indebtedness, in the sum of forty-three thousand dollars, by issuing in lieu thereof bonds in the sum of one thousand

Denomination and interest.

dollars each, said bonds to bear a rate of interest not to exceed five per

Payments.

centum per annum, interest and five thousand dollars of the principal payable annually from and after the second day of January, nineteen hundred and eleven.

Sec. 3.

That said refunding bonds shall be signed and delivered by the chairman of the board of supervisors and the treasurer of said Navajo County, and shall be made payable to the person, persons, or company purchasing the aforesaid refunding bonds.