The Hillsdale standard. [volume] (Hillsdale, Mich.) 1851-1909, 1865-03-07

cuhcSS VI siy VVWhHh'P VI WY h'o"
toned in sections one, twemd three OF
this act shall be held legal and valid
(where the issue of the same has not
been authorized by vote Of the elect
ors of such municipal corporatioD un-
til the question of their payment shall
be authorized by vote at an annual
or special meeting or election, called
and held regularly, and on due notice
of the electors of the municipality issu-
ing such evidences of indebtedness.
SEC. 4. The township board of any
township, and the common council of
any city in this State, shall have the
power to raise, by tax upon the taxa
bic property of such township or city,
or by loan, such sums as may be nee
essary for the payment of money bor-
rowed or advanced by any township,
ward or city, officer or officers, or by a
committee informally authorized to act
for such township, ward or city, and
have, at the time of making such loan,
pledged the faith of the township or
city, or received the informal pledge of
the township or city, at the time pima
king such advances, to refund the same
when the township or city shall be au-
thorized by law so to do: Provided, al
nays, That all such moneys shall have
been borrowed or advanced for the pur-
pose only of paying bounties to volun-
teers, who have been enlisted and mus
tered into the military or naval service
of the United States, and been credited
upon the quota of such township or
city priorto the 4th day of February,
AID 1865 Provided, further, That the
provisions of this act shall not apply to,
or authorize the payment of any mon
eys borrowed or advanced, to pay boun-
ties to volunteers, on any call for volun-
teers made prior to July 18th, A. ID,
1864.
SEQ. S. Before any moneys shall be
raised by tax or loan as provided by
section four, of this act, the electors OF
such township or city shall, at the an
nual or some special meeting, regular
ly called for that purpose, determine by
vote the sum to be raised, and whether
the same shall be raised by tax or loan.
In case the money shall be raised by
tax, the tax shall be levied and collect
ed the same as ordinary township or
city taxes are levied and collected. In
case such moneys shall be raised by
loan on the bonds of such township,
they shall be signed by the supervisor
and Clerk thereof, and shall draw rate
ofinterest not to exceed seven per cent.
and to run not to exceed three years
from the date and if such money shall
be raised by loan on the bonds o
such city, said bonds shall be signed by
the mayor or recorder or clerk thereon
and shall draw interest not to exceed
seven per cent, and to run not to eX
ceed three years from their date; anC
the township board Of such township
and the common council of such city
issuing such bonds, shall have power
and it shall be their duty from time t.
time, to raise by tax such sum or sum
as shall be necessary to pay the amoun
of such bonds, and the interest there d
as fast rs the same shall become due.
SEC. s. 1t shall be the duty OF town
ship clerks of townships, and the re
corders or clerks of cities of this State
on or before the first Monday In Octo
} Der Of each year, to certify to the super
visor of their respective townships, 0
common council, or other proper Off
,, GERS of their respective cities, tn
amount of Indebtedness OF his sal
township, ward, or city, growing out
the payment of bounties to volunteer
rs herein provided, together with intel
! est thereon, if any, computed up to tn
first day of February next ensuing, ].
the Same manner as is now by law nj
,, duty to report, as to incidental expen
es of his township, ward or city; and
shall be the duty of such supervisor
I, other officer as aforesaid, to ineorpora'
said amount i'm the assessment roll f'
: such township, ward or city, as part
!, the incidental expenses of such tow
ship, ward or city; aud the treasurer
n collector of such township, ward or cit
: is authorized and required to cole
v and pay over such amounts, at Il
Q same time and in the same manner,
> other taxes are by law required to
collected and paid over.