said bonds, commencing with number one and paying them consecutively; the intent of the last provision is, after thirty years, to annually pay not less than twenty thousand dollars ($20,000), and reserving unto the board the privilege by notice filed six months previously, and published in the manner above set out, to pay a greater sum. Said bonds shall be coupon bonds, bearing interest at a rate not greater, than six per cent per annum, interest 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 by said board, and the said bonds may be sold and negotiated in any market; provided, that in no case shall any of said bonds be sold or negotiated at less than par; and the money arising from the sale of said bonds shall be paid into the treasury of said levee and drainage board, and only paid out on the warrant of the secretary, countersigned by the president.

SECTION 2. That each and all of the 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 or binding on said board or district until the same has been endorsed by the treasurer in writing 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. The treasurer of said board shall keep a registry 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 bonds so issued, and shall keep the same kind of account on 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 reissued, but every such bond or coupon shall be cancelled by the treasurer or punched with an instrument provided for that purpose. The treasurer shall at the same time note on the original register hereinbefore required to be kept by him, the fact of payment, surrender or cancellation of each bond or coupon he may take up, and the bonds or coupons taken up by said treasurer, after cancellation, shall be preserved by him as vouchers in settlement with the board; and after due allowance of same in settlement by said board, said coupons shall be burned and destroyed by the president in the presence of the board, and said cancelled bonds shall be preserved by the board as part of its record.

SECTION 3. That all moneys borrowed or arising from negotiation or sale of any of said bonds, shall be paid into the treasury of said levee and drainage board, and shall constitute a levee and drainage fund, to be used and applied only by said Act of April, 1905.

SECTION 4. That the secretary of said board shall, upon order of said board, cause said bonds to be lithographed, with such devices for identification and to prevent imitation as such secretary may think proper; and he shall register said bonds in a book to be kept for that purpose, as the bonds are issued, stating therein the date, number, letter, amount, place of payment and to whom issued or sold, or on what account used, of each bond issued, and shall take a receipt in said book from the party to whom each of said bonds is delivered.

SECTION 5. That it shall not be lawful for the said board of levee and drainage directors, or any officer, member or agent thereof, to pledge or deposit any bond or coupon issued under the provisions of this Act as security for payment of any borrowed money or any debt or obligation of

said board, or of any person, firm or corporation whatever; nor shall it be lawful for said board of levee and drainage directors, or any officer, member or agent thereof, to appropriate or use any money arising from the sale of any bond or bonds authorized to be issued under this Act to any use or purpose whatever other than is herein specified and expressly directed. And any member, officer or agent of said board of levee and drainage directors who shall violate any of the provisions of this Act by selling, transferring, negotiating or using any bonds for and at an amount or price less than par, as expressly authorized and directed by the terms of this Act, or any part thereof, shall be deemed guilty of a felony, and upon conviction thereof, shall be punished by imprisonment in the penitentiary for not less than one nor more than five years.

SECTION 6. That to the payment of both the principal and interest of the bonds to be issued under the provisions of this Act, the entire revenues of the district arising from any and all sources, is by this Act pledged, and the board of directors are hereby required to set aside annually from the first revenues collected from any source whatever, a sufficient amount to secure and pay the interest on said bonds.

SECTION 7. That no compensation shall be allowed the treasurer of the Board of Directors of the St. Francis Drainage District, directly or indirectly, for receiving and paying out the proceeds of said bonds.

SECTION 8. That all Acts and parts of Acts in conflict with this Act be and the same are hereby repealed, and this Act take effect and be in force from and after its passage.

[This bill was filed in the office of the Secretary of State without the Governor's signature, on May 6, 1905, the General Assembly having adjourned.]

АСТ 253

AN ACT to fix the time of holding the Circuit Courts of the Ninth Judicial Circuit of Arkansas.

SECTION

1. Fixes time for holding courts of Ninth Judicial Circuit.

2. Disposition of writs and processes returnable.

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

SECTION I. That from and after the first day of June, 1905, the circuit courts of the Ninth Judicial Circuit of Arkansas, composed of the counties of Little River, Sevier, Howard, Pike, Montgomery and Polk, shall, until otherwise provided by the General Assembly, be begun and held in the several counties in said circuit as follows: In Little River County, on the first Monday in January and July of each year; in Sevier County, on the fourth Monday in January and July of every year; in Howard County, ca the third Monday in February and August of every year; in Pike County, on the third Monday in March and September of every year; in the county of Montgomery, on the first Monday in April and October, and in the county of Polk, on the third Monday in April and October of every year.

SECTION 2. That all rights and process returnable to any of the circuit courts in the Ninth Judicial Circuit of this State be, and they are hereby made returnable to the said several courts according to the time fixed for holding the same by this Act.

SECTION 3. That all laws and parts of laws in conflict with this Act be and they are hereby repealed, and this Act shall take effect and be in force from and after its passage.

Approved May 6, 1905.

ACT 254.

AN ACT authorizing the Council of the incorporated town of Hoxie, Arkansas, to vacate parts of Broad and Springfield Streets, in said town.

SECTION

I. Hoxie Town Council authorized to vacate certain streets in said town.

2. Act in force from and after its passage.

Whereas, In laying out and platting the town of Hoxie, Arkansas, the civil engineer located one of the streets in a slash of water, making said street one hundred and forty feet wide, and naming it Broad Street; that when "Boas" third addition to said town was platted, said Broad Street was continued, but at a width of sixty feet, being the width of all the other streets of said town; and,

Whereas, Another street in said town, laid out at the same time with said Broad Street, called Springfield Street, on account of its location, cannot be used by the public for a distance of five hundred feet, commencing at its intersection with Texas Street on the east and extending west five hundred feet, or to its intersection with Maple Street; and,

Whereas, Said streets are objectionable, unsightly and unsanitary to the inhabitants of said town and the public generally, Now, to the end that said Broad Street may be made uniform width of sixty feet, and a part of the aforesaid Springfield Street referred to may be vacated and said objectionable conditions may be removed.

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

SECTION I. That the common council of the incorporated town of Hoxie, Arkansas, be and is authorized to pass an ordinance vacating the east five hundred feet of