The Tipton advertiser. [volume] (Tipton, Cedar Co., Iowa) 1856-1962, 1868-05-21
TCOntinued from first page. 7

! 10. No compromise shall be made
under the PROVISIONS of this act until
the prbper1 Council or Board of Super
viJbrs shall submit the question wheth-
efthe powers given by this act shall be
exercised by such town, city or county,
and it shall be the duty Of the town,
lefty, or county authorities to submit
the question to the voters of said town,
scitysor county, lg the case may be at
aeoiMe general or special election. The
form Of the question submitted may be
substantially ~ follows !: +" ''ShaIl the
city of-(or county Of, or town
Of, as the case may be, settle its
Ael@ts under and by virtue Of the pro-
7 Visions of the act (giving its title and
date of passage.)
The answer on the ballot containing
the question shall be "yes" or "no." II
the majority of the votes cast are Eyes"
then the proper city or town Council,
DIR Board Of Supervisors, may exercise
the powers given by this act In the
manner herein prescribed but no cred
itor can in any event compel them 10
exercise the powers, II the majority OF
the votes cast are mo" then the pow
ers given by this act shall not be eXer-
cised by such town, city or county.
The question may be re- submitted to
TIE voters after having been voted
'.no," but such re-submssion must not
be within twelve months of first sub
mission. If adopted -on such result
rniSsioiiby majority of the votes cast,
then it shall be lawful for such town,
city or county to exercise the Jers
given by this act.
NJ The notice Of the submission In THIS
section provided for. shall be such as
the Board of Supervisors, or proper city
rrnsrrihp 'Ehp
result, after being canvassed, shall be
entered Of record on the proper books
Of the county, town or city.
al. The provision of this act shall
not apply to counties having popu!a-
ton of less than three thousand five
! hundred inhabitants as shown by the
census of 1867. Prorided, that any
action or proceeding under the provis-
ions of this act shall be commenced
within two years from The taking effect
of this act, and not after.
al2. Nothing herein contained shali
be construed 10 prevent the corporations
herein named from settling their debts
without a resort TO the powers
contained i'm this act ; and no bond
shall be regarded a. having been issued
under this act unless it he so stated on
Vhe face thereof aud none of the pow
ers herein given shall apply to bonds
which are not issued, on which on the
face thereof do not profess To have been
a issued under the provislo rs hereof.
4 IL Is. A debtor corporation, instead
1 Of pursuing the course above mention
ed, may, if il resolve to do SO, adopt the
following course: 1t may issue the
new bonds herein authorized and taken
UP Herewith old bonds (on such terms
as may he agreed upon,I and then de-
post the old bonds with the Treasurer
OF the State of Iowa, in his official ca
pacity, as security for the payment of
said new bonus and coupons. If the
new bonds and coupons are paid then
the.oid bonds or coupons are to BE sur
g 'reshereti 10 the proper debtor corpora
.p upon such payment. If said new
the new 6or,s MI 1sc, pr ~ su nr, ,h
bonds but the ola 'a Hs,.. * 49, old
sold to pay the new bond. or S Sa''.~r =
The deposit of old bonds ahn""".' ~,
thorized may be with or without IT,,
benefit Of the specific levy herein au
tho:ized, as may be agreed upon 10y tn,
parties. ~
II. This act being deemed of i'm
hesitate Importance shall go into effec
when published in the Io,pa Suite Reg
ister and Iowa Eocaing Statesman.
Approved April I'd, 1858.