The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1870-04-29

end of five years at least forty per
cent. of the amount ; and at and
| before the date Of maturity of the
bonds, shall be equal to the whole
amount of principal sand interest,
and the money arising from such
levies, shall be known as the Bond
fund, and shall be used for the
payment of Bonds and interest
coupons, ana for no other purpose
whatever =; and tie Treasurer shall
open and keep in his books, sep
aratc and special account thereof,
which shall at all times show the
exact condition Of said Bond-tund.
Sec. 4. Whenever the amount
in the hands of the Treasurer, be-
longing to the Bond fund, after
setting aside the sum required to
pay interest maturing before the
next levy, is sufficient to reIeem
one or more Bonds, it shall be his
duty to notify the owner of such
bond or bonds, that he is prepared
to pay the same, with all interest
accrued thereon, and ifnot present
ed for payment or redemption,
within thirty days after the date of
such notice, the interest on such
bond shall cease, and the amoant
due thereon, shall be set aside for
its payment whenever presented
All redemptions shall be made in the
exact order Of their issuance, be-
ginning at the lowest or first num-
ber ; and the notice herein requir-
ed, shall be directed to the post
office address Of the owner as
shown by the record kept in the
Treasurer's office. Z
Sec. 5. II the Board of Super
visors of any county which has is
sued bonds under the provisions of
this Act, shall fail to make the levy
necessary to pay such bonds, or in
terest coupons, at maturity, and
the same shall have been presented
to the county Treasurer, and the
payment thereof refused, the owner
may file the bond, together with
all unpaid coupons, with the Au-
ditor of State, taking his receipt
therefor, and the same shall be reg.
istcred in the Auditors office and
it shall then be the duty Of the
Census Board, at their next session,
as a Board Of equalization, and at
each annual equalization thereaf-
ter, to add to the State tax to be
levied in said county, a sufficient
rate to realize the amount Of prin-
cipal or interest past due, and to
become due prior to the next levy,
and the same shall be levied and
collected as a part Of the state tax,
and paid into the State Treasury,
and passed to the special credit Of
su.h county, as bond tax, and shall
be paid by warrant, as the pay
ments mature, to the holder Of such
registered obligations as shown by
the regist er in the office of the State
Auditor. until the same shall be
fully satisfied and discL Larged; any
balance then remaining, being
passed to the general account and
credit of said county.
Sec. 6. The provisions of this
Act are not intended and shall not
be construed to embrace the in
debtedness of any county, arising
from bonds issued to aid in the
construction of any railroad.
See. 7. This Act shall be in
force, and take effect from and after
its publication in the Daily Iowa
tate Register, and in the Des
Moincs Daily Bulletin, newspapers
published at Des Moines, Iowa.
Approved March 80, 1870.
/ hereby certify that the forego-
ing Act was published III the Iowa
State Register, April 3, and Des
Moincs Bulletin, April, 4. 1870.
Ed WRIGuT, Secretary of'State.