($500) per annum for making the assessment of all property, real and personal, of said county, and in addition to the salary herein provided for, he shall receive one-half of the penalties arising from assessing the delinquent taxes of said county, and out of said salary he shall pay all necessary deputies and assistants.

SECTION 4. It shall be the duty of the clerk, sheriff, and assessor of said county to charge and collect the same fees as are now, or may hereafter be, allowed by law, and each of said officers shall on the first day of the October term of the county court, annually file a sworn statement in said court, showing the amount of all fees collected or due him, and each of said officers shall make settlement with said court by paying all amounts in excess of the salary due him since last settlement into the county treasury, and file the treasurer's receipt therefor as a voucher in said settlement; the officers aforesaid shall be chargeable with and liable for all fees and commissions that it was their respective duty to charge and collect,

SECTION 5. Each of said officers shall keep a full and complete record of all fees and commissions charged and collected by him, and he shall enter the same upon a record to be provided by the county for that purpose, as soon as the services are rendered, the legal fees therefor, and kind of money received, or to be paid, which record shall at all times be open for inspection, and a failure to comply with the provisions of this section shall be a malfeasance in office.

SECTION 6. If either of the officers aforesaid, shall fail or refuse to make settlement with the county court of said county as required by this Act, or to pay any and all funds into the treasury that it is his duty under this Act to pay, unless for cause shown such settlement be by the

court continued, he shall be deemed guilty of a misdemeanor, and upon conviction in the circuit court, shall be fined in any sum not less than one hundred dollars ($100) nor more than ten hundred dollars ($1,000), and shall be removed from office.

SECTION 7. All money paid into the treasury of said county under this Act shall be converted into the common school funds of said county, and be annually appropriated by the county court.

SECTION 8. The salaries herein provided for shall in no year exceed the fees and commissions earned by said officers.

SECTION 9. All laws and parts of laws in conflict herewith are hereby repealed, and this Act shall take effect and be in force from and after October 31, 1906.

AN ACT to authorize the board of directors of the Linwood and Auburn Levee District to issue bonds for the purpose of building, rebuilding, repairing, raising and maintaining levees on the south bank of the Arkansas River, in Lincoln County, from the Jefferson County line to the Desha County line.

SECTION

I.

2.

3.

Authorizing Linwood and Auburn Levee District to issue bonds.

No compensation allowed treasurer of district for handling proceeds of sale of bonds.

How moneys borrowed shall be used.

4.

5.

Bonds to be lithographed and registered, and receipts taken for bonds delivered.

How revenues shall be collected and applied.

6. Repeals Act of March 23, 1905; Act in force from passage.

Be it enacted by the General Assembly of the State of Arkansas:

SECTION I. That the Board of Directors of the Linwood and Auburn Levee District, said district being composed of the following political townships, to-wit:

Auburn, Choctaw, Kimbrough and all that part of Bayou Bartholomew township lying north of Bayou Bartholomew and all of Wells Bayou township lying north of Wells Bayou, in Lincoln County, Arkansas, and Randolph and Walnut Lake townships in Desha County, Arkansas, shall have power to borrow money for the purpose of building, rebuilding, repairing, raising and maintaining the levees on the south bank of the Arkansas River in Lincoln County, from the Jefferson County line to the Desha County line, and to that end may issue bonds of said board to an amount not exceeding one hundred thousand dollars, which bonds shall be payable in lawful money of the United States, and shall be in such denominations as the board may prescribe, and shall be registered bonds or made payable to bearer, as may be preferred, and shall be payable in not less than twenty nor more than thirty years, and shall be designated 20-30 bonds, that is, at the discretion of said board. all or any of said bonds shall on notice filed at the place of payment one year in advance and published in at least one

newspaper published in the City of Little Rock, State of Arkansas, and one newspaper published in the City of Memphis, State of Tennessee, and one newspaper published in St. Louis, State of Missouri, and one newspaper published in Chicago, State of Illinois, and one newspaper published in the City of New York, at least once a week for six months in advance, be redeemable and payable at the end of twenty years, but it shall be the duty of said board, should it elect not to pay all of said bonds at the end of twenty years, to create a sinking fund for the payment of the principal of said bonds by annually appropriating from the revenue as provided for by this Act, and the laws now in force, a sum not less than five thousand dollars, which shall, as soon as paid in, be applied annually pro tanto to the payment of said bonds, commencing with number one and paying them consecutively. The intent of this last provision is after twenty years to pay annually not less than five thousand dollars ($5,000) towards retiring said bonds, and reserving unto the board the privilege, by notice filed six months previously and published in the manner above set out, to pay the greater sum. Said bonds shall be coupon bonds bearing interest at six per cent per annum, which interest shall be payable semi-annually on the first day of January, and July of each year, and the place of payment of the principal and interest shall be fixed in said bonds by said board, and said bonds may be sold and negotiated in any market. Provided, That in no case shall any of the bonds be sold or negotiated for less than par, and the money arising from the sale of said bonds shall be paid into the treasury of said levee board and only paid out on the order of the said board of directors by its warrants signed by the secretary and countersigned by the president.

That each and all of said bonds issued by the board as hereinbefore provided shall be signed by the president and countersigned by the secretary, and no such bonds so issued as aforesaid shall be valid and binding upon the said board and district until the same is endorsed by the treasurer of the board that he has duly registered said bonds to the owners thereof as hereinafter provided. Upon such registry and endorsement by the treasurer said bonds shall then, and not till then, be held as fully executed, and shall thereupon be negotiable.

SECTION 2. That no compensation shall be allowed. the treasurer of the board of directors for receiving and paying out the proceeds of the sale of said bonds; but the treasurer of said board shall keep a register showing the dates, letter, number, and place of payment and to whom issued or paid, whether for cash or on contract for labor, or work done or performed, of all of said bonds so issued, and shall keep the same kind of account of all bonds paid, received or taken up by the board, showing when and to whom payment was made and from whom each bond was received or taken up and on what account, and no bond or coupon paid, received or taken up by said board shall again be used or re-issued, but every such bond shall be cancelled by the treasurer and punched with an instrument provided for that purpose. And all such bonds shall be secured by a lien upon all lands, railroads, and tramroads subject to levee tax in said district, and the board shall see to it that an assessment is made and the tax levied and collected under the provisions of the law now existing on this subject, and under the provisions of this Act, so long as it may be necessary to pay any bond issued or obligation contracted for under its authority. The making of said assessment or bonds shall nevertheless be a lien on all the property in the district subject to taxation and collectible to that end.