Buchanan County bulletin and guardian. (Independence, Iowa) 1866-1869, 1868-06-12
LAWS OF IOWA
CHAPTER g..


Asd II ahs court . sstis6ed thas thess =
any evasion oe delay in he performance Il
this duty on he part Of the sosPssaAiee, =
hereby invested with tie poses, asd i .
hereby made ths duty Of ths eesss 1sslfoo
enter IN order levying such TAI asd TO shsus
its own officers With shs dsty Of eolleesiaR Z,
and for this purpose they shall hass ~ -
powers, and be substituted il the plaes q
the corporate officers. And il jsdensass
are obtained upon such new boads OF fue -
interest thereon, and arc not psid, he eoe>
porate property Of eli kinds, vithout any q.
emption, shall be subject to seizass end ss3s
on execution, issued upon such judgments
the general revenue ot the corporation shali
be liable to pay such Judgments, and of6eess
subject to garnishments.
But it shall not be held 70 sntborixc he
levy Of any specific OF other tax than such
As may be levied BY virtue hereof and for The
purposes Of paying the new bonds herein
authorized. And this act shall not be con-
strued to enlarge the taxing power of cities,
towns or counties as respects old bonds or
debts, nor to validate such bonds or debts In
case they are not adjusted under the provis-
ions Of this act. Its benefits are designed
for and limited to those Who voluntarily
make an adjustment under its provisions.
SEc. 5. This act shall not Be deemed to
be contract in favor of any creditor who
accepts Of its provisions, and to ssch credit
or or holder Of the new bends herein author.
ized shall be irrepeslab!s.
SEC. s. The benefits and provisions Of
this act only apply to eredit0rs Who shall 10.
ceive new bonds IN settlement Of prior debts
or bonds, nor does this sct apply to corpora
tions not indebted, or which do not issus
new bonds in settlement Of fosnes oses.
SEc. Z. The provisions Of this ct sAall b.
deemed incorporated in the nev bo0ds is.
sued BY virtue hereof. Any ef the bonds
hereby authorized may u the pleasure u the
corporation be paid prior - she time therein
fixed for payment, in which case ths holder
ean osly demand the principal ard interest
up TO the time Of fpayment.
SEc. 8. Power Is hereby given to the
BoarJ Of Commissioners, provided fss in
this act, to advertise from time 10 tiae in
such papers - they may think best, and in-
vite the existing bondholders Of the corpora
ton to state to the Commissioner lst
The terms on which they will exchange old
bonds or debts for new bonds to be Issued
under this act. I'd. The terms on which
they will surrender to the city, towu or coun.
II, las the case may bs), old bonds OF debts
for new bonds to b issued usdes this ac,.
3D. The terms on which they will he surssn-
dered to the city, town o. county, (as the
case may bel old bonds for cash. Ths res.
uli shall b. reported from tine 10 ti.e l.,
the proper governing body Of he ecspesasion.
for such action - is may see peopef to take
on the premises under this act. lift is a..
eestAined that the offers to surrender fe
ready money are the most advantageous. The
newlbsuds hereis ssthorized, nay b soa
for cash, buf IN easa st lsss than pas, and "
10 greater eztent than is necessary 70 ae>
eept offers ffun time 70 time aessallv re-
eeived. Money tAss obtaiaed shaIl b psid
- and kspt By - psopse eisy, tsus Of
eoaaey tssasusse, - I'D ooly go III
disecsisa q IL Cssaeil e Dsasd e Sspee.
viaoesy fos he ne hseplag cf which ~ saia
treasurer sAall b fsh1s On their o0eial bond.
the amosss 81 vhSeA nay b iaessassd from
time TO ti1e Il nsesasasy to socuss he cur
posaiioa fiUa loss. noaey thu Obtained
shall b ese4ps iron aatachment, Rafnish-
ment Tie cosposatioa. iis oGlcsss, and CON-
missioasss shall nol b held kabls tksseou.
esc. .. City aaa eevn corporations sss
issssasa viii powes to paas resolasioas ssd
esdisAneea, asd counties 10 paas sesolations
sad orders nsesssasy to carry into exeeu,iou
tAs powers hessis gives.
Ssc. 10. No eospep-;ere .A.u /. .,.,,.
under tie pssvisions Of lshisl act until the
rfOPer Council o. Board Of Supervisors shall
submit the question whether tie povess giv,
en- BY this act shall be erercised By such
town, city OF cosnsiss, and is shall y The
duty ofths town, lciay,] q county ausAss>
ities 70 submit ihe question % tho voesrs OF
sown, city or county, (ss the case may be ,as
some grneral Or special election. Tie forn.
Of the qses,ioa ssbai,ted may be substan.
sially - follow: 'Shall the city of,---lpv
county Off,, or town o.. ~ the CA.
may bel, settle its debts uuder and hv s..
the OF the provisions VI the aca (eiv;ar ~
title and date Of passage"
The answer on The ballot containing h
question shsn b yes on 'sno.," N,As a,
jorisy Of he VOTES casa are ayes,s then tAs
proper city and town Council, o. hoard q
supervnoss. may exsrrise The povera civeu
BY H. - n the manner hercM prescribed
but no creditor can in any event eompe
them 70 exercise the powers. fthe ln.iori,
y offhe votes e . are 80 then tha pow
ers given BY this act shall mot BE- exercised
BY such t0wn. city OF county.
The question may BE- rc submitted 10 the
voters afler having been voted -sno," bu,
such resubm ssion must not ls within
twelve months Of first submisic n. II adopt,
| I'd % re~submissioa w 4 majority of III,
vJtes sast, then i shall be hwfal fos such
snsp, eiti o. coaa'y 70 expvciSs shs posss.
given By this act.
Tho notice OF the submission Ia this see.
ton provided for. shall be sach as the Boarl