practice each Supervisor prepares a list of names of Grand Jurors, equal to the proportionate share of Grand Jurors that should come from his town, and submits such list to the Board of Supervisors, at their annual meeting, and from such lists the Grand Jury list is compiled by the Board of Supervisors.

In preparing such list the Supervisor should be careful to select such persons only as he knows, or has good reason to believe, are possessed of the qualifications by law required of persons to serve as jurors for the trial of issues of fact and are of approved integrity, fair character, sound judgment and well informed. 3 R. S. (8th ed.) 2766, § 3.

Persons exempt by law from serving as jurors for the trial of issues of fact shall not be placed on any list of Grand Jurors, required by the preceding provisions. Ibid., $4.

The list shall contain the christian and surnames, at length, of the persons named therein, their respective places of residence and their several occupations. Ibid., § 5.

Supervisor's list of Grand Jurors.

To the Board of Supervisors of Erie County:

I herewith submit a list selected by me of persons resident in the town of Holland possessed of the requisite qualifications to serve as Grand Jurors :

For mode of selecting Grand Jurors in the County of New York, see Laws 1882, chap. 410, §§ 1634, 1651, and in Kings County, Laws 1858, chap. 322; 3 R. S. (8th ed.)

2771.

§ 122. As to Town Debts.

Whenever a town has a public debt, consisting of bonds or other evidences of debt, issued on the credit of said town, it shall be the duty of the Supervisor thereof, and he is hereby directed and required, to make a report to the Board of Supervisors of the county, at the next annual session thereof after the passage of this act, and at every annual session thereafter, of the amount of the public debt of his said town. Laws 1870, chap. 552, § 1; 1 R. S. (8th ed.) 925.

The said report shall be in tabular form, specifying the different acts under which the bonds or debts were issued, with rate of interest thereon, the amount unpaid at the time of the election of such Supervisor, and the amount of debt paid at the date of his said report and coming due during his term of office. Ibid., § 2.

The report so made to the Board of Supervisors shall be published in the annual report of the proceedings of said Board. Ibid., § 3.

It shall also be the duty of such Supervisor, and he is also directed and required, at the expiration of his term of office, at the annual town meeting for the election of town officers, to make and present thereto a duplicate copy of his report of the public town debt; so made to the said Board of Supervisors, including and adding thereto the amount of bonds issued, and the amounts and interest paid since the date of said report, up to the day and date of his term of office, duly attested before a Justice of the Peace of his said town, and which said report shall be filed in the Town Clerk's office of the town, subject to the inspection when required, of any elector thereof. Ibid., § 4.

All such bonds and coupons thereof paid, shall be cancelled and burned by the Town Auditors of the town,

at a meeting thereof, to be held for that purpose within ten days previous to the annual town meeting: and a record thereof shall be filed, signed by the said Board, in the office of the Clerk of said town. Ibid., § 5.

Any Supervisor or other officer neglecting or refusing to perform any duty imposed by this act, shall be deemed guilty of a misdemeanor, and shall forfeit, upon conviction, the sum of two hundred and fifty dollars for such offence, and be imprisoned not exceeding sixty days. Ibid., 6.

Report under above act.

To the Board of Supervisors of Erie County:

The undersigned Supervisor of the Town of Brant, in the County of Erie, New York, in compliance with the requirements of Laws 1870, chapter 552, reports:

That the amount of the public debt of said Town of Brant, consisting of the bonds of said town, at the last annual town meeting, when I was elected Supervisor,

Amount paid at date of this report
Amount which will become due during my
present term of office, viz.: on February 24,
1889, is .

$20,000 00

2,000 00

$2,000 00

The above bonds were issued and bearing date February 24, 1887, under and pursuant to the provisions of chapter 75, Laws of 1878, in place of bonds theretofore issued, to aid in the construction of the Buffalo and Jamestown railroad and bear interest at six per cent., payable semiannually at the office of Gallatin National Bank, in the City of New York, at which place the principal of said bonds is also payable.

Such bonds were divided into ten series, of $2,000 each and numbered one to ten. Series one became due and payable February 24, 1888, and one series annually thereafter until the whole amount becomes due.

The amount to be provided for during the ensuing year

§ 123. Bonded indebtedness of towns, etc.

New bonds may be issued to retire old ones. The present bonded indebtedness of any village, city, town or county in this state, including interest past due or unpaid, may be paid up or retired by the issue of new bonds for like amounts, by the Board of Trustees, Mayor, or Common Council, Town Board, Board of Supervisors or Supervisor, or Railroad Commissioners, or officer or officers now having in charge, according to law, the payment of interest or principal on bonds herein proposed to be paid or retired respectively of such village, city, town or county; provided, however, that such new bonds shall be issued only when existing bonds can be retired by the substitution therefor of such new bonds, or can be paid up by money realized on the sale of such new bonds, but where the said bonded indebtedness shall become due within two years from the issue of the saidnew bonds; then such new bonds may be issued or sold to provide the money in advance, with which to pay up such existing bonds, when they shall become due and payable; and provided further, that such new bonds shall bear interest at a rate not exceeding four per cent. per annum, payable semi-annually or quarterly. All existing bonds, taken up by the substitution of such new bonds, or paid under the provisions of this act, and all new bonds and coupons, when paid up as herein provided, shall be immediately cancelled as now provided by law, and a certificate executed by the officers issuing such new bonds shall be forthwith made and filed by them in the County Clerk's office of the proper county, which shall state the amount of existing bonds so cancelled and of new bonds so issued.

This act shall not be so construed as to authorize the issue of new bonds or to supersede or pay existing bonds which have been adjudged invalid by the final judgment of a competent court. The new bonds so to be issued shall be made payable at any period or periods deemed advisable by the officers issuing the same, not less than one year nor more than forty years from their date; and shall bear date and draw interest from the date of the payment of existing bonds, or the receipt of the money to pay existing bonds; and an amount not less than two per cent. of the whole amount of said bonds so issued, shall be made payable and shall be paid and retired, each and every year after the issue thereof, and said bonds shall be issued in no case at less than their par value. Laws 1886, chap. 316, § 1.

Validity of new bonds. The bonds issued under the provisions of this act, when submitted* or sold to retire existing bonds, by any authorized officers of any town, village, city or county, or their successors in office, shall be valid and binding on the town, village, city or county wherein they are issued, and such bonds shall contain a recital that they are issued under the provisions of this act, and such recital shall be conclusive evidence in any court, of the validity of said bonds and the regularity of their issue. Ibid., § 2.

New bonds exempt from taxation. All new bonds issued by any village, city, town or county in this state, under the provisions of this act, shall be exempt from taxation for town, county, municipal or state purposes, until the period when they are made payable. Ibid., § 3.

Annual reports as to bonds. It shall be the duty of the Railroad Commissioners, Supervisors and financial officers of towns, villages, cities and counties, having in charge the money received and collected and responsible for the payment of the interest and principal due on bonds issued under this act, and they are hereby required to report annually to the Board of Supervisors of *So in the original.