The treasurer of each school district, county, and city, the burgess or other chief officer of each incorporated district or borough, of this Commonwealth, within ninety days after the passage of this act, shall make return, under oath or affirmation, to the Auditor General of the amount of scrip, bonds, or certificates of indebtedness outstanding by said county, city, incorporated district, school district, borough, or incorporation, as the same existed on the first day of January, one thousand eight hundred and sixty-four, and of each succeeding year thereafter, together with the rates of interest thereon at each of those periods, under the penalty of five thousand dollars; the amount to be settled by the Auditor General, and the amount thereof sued for and collected as debts due by defaulting public officers are collected: Provided, That on the receipt of said returns the Auditor General shall proceed to settle the accounts of each county, city, incorporated district, school district, and borough with the Commonwealth, fix the State tax due and unpaid, and transmit notice of the amount, by mail, to officers making said returns; and that, if the amount so found due shall not be paid within sixty days, the Attorney General shall sue and collect the same, with interest from the date of such settlement; and hereafter it shall be the duty of the treasurer of every county, city, borough, school district, and incorporated district in this Commonwealth to deduct the said State tax on payment of any interest or dividend on debts due by the county, city, borough, school district, or incorporated district, and pay the same over to the State Treasurer within thirty days after the said interest or dividend has fallen due.