The Tipton advertiser. [volume] (Tipton, Cedar Co., Iowa) 1856-1962, 1870-04-28
County Auditor

".................. ...-....ss...'.
County Auditor.
A copy Of this Act shall be printed on
the back Of each bond issued under its
provisions.
a. Whenever bonds Issued under
this Act shall Re duly executed. num-
bered consecutively, and sealed. they
shall be delivered to the county Treas
urer, and his receipt taken therefor.
and he shall stand charged on his oin-
cial bond. with all bonds delivered to
him, and to the proceeds thereof, nntl IL
shall he his duty to sell the same, or
exchange them OH the best available
terms. for any legal Indebtedness of the
county. outstanding on the first ,iny OF
May. 1870, but In neither case for Z less
sum than the face value ~ the boi,ds.
and all interest accrued on them At the
date of such sale ar exchange; and II
any portion of said bonds are sOfi for
money. the proceeds thereof shall be
applied exclusively to the payment OF
liabilities existing against the cotii,ty.
When they are exchanged for warrants.
and otler legal evidences Of county In.
debt. dues., the Treasurer shall vi once
proceed to cancel such evidences of In
deb. edne-s, by indnrsing on the face
thereof the amount for which they
were received, the word "cancriled,"
and the date of cancellation. "2+sa
lie shall also keepa record Of bonds
sold or exchanged 10y him. hy numsyer.
date Of sale, amount, date of maturity.
aud name aud post.ottlcc address, OF
purchasers; aud II exchanged, what
evidences of Indebtedness were received
therefor, which rccnr,! shall be open as
all times 10 inspection by the public.
Whenever the holder ofauy bo,d shall
sell and transfer il, the purchaser shalt
notify the Treasurer, of such purchase.
giving ut the same time the number of
the bond transferred, and his post office
address. and every such transfer shall
be noted on tie record. The Treasurer
shall also report under oath to the CoGri
at each regular session, Il statement of
all b"nd- sold or exchanged by him
since preceding report, and the date OF
such sale or exchange, aud when ex-
changed, list or description OF the
county Indebtedness, exchanged there.
for, and the amount of accrued interess
received by him on such sale, or ex-
change, which latter sum shall be
nj, Il ia 1,t,
Eond fund. aud so entered by him IN
his books.
a. 1t shall be the duty oflhe Board
Of a.apervisar-. to cause 10 be assessed
and levied each year, upon the taxabl,
property of the county, in addition to
the levy authorized for Other purposes,
6 q ttici-nt sun to pay the interest on
outs andlng bonds aceruiny before the
next annual levy, and such proportion
Of the principal, that at the end VI three
years, the sum raised from such ltvies
shall equal nj least twenty per cent. Of
the whole amount of bonds issued; NJ
the end Of five year, ut least forty rer
cent. of the amount; and ut and bcture
the date vi maturity OF the bonds, shall
be equal To the Wno,e ann ~ At VI princ...
pal aud intere.t, and the moiey arising
from such ievIeS, shall he known ;iS
the Bond fund, aud shall be used fOr
the payment of Bonds and interest cuu-
pons, and tor no other purpose Mhatev
er: and The Treasurer shah open and
keep in bis books II separate anh specIat
account thereof, which shai! ataillimeS
show the exact condition of said Boad-
fund. A''A
"a. Whenever the amount in tho
llanis .! the Treasurer, belonging to
the Bond fund, alter setting aside the
sum required 10 pay Interest maturing
before the mex; levy, Is sufficient 10 re-
deem one or more bonds, il shall tie hiss
duty To notify lhe owner OF such bOsAts
y. bund~, that lie Is prepared to pay tll0
zane. W t al ME est accIuet thereon,
and II not present, q ior pay i,lent or sFe-a
deinption, within thirty days alter tina
date oI such nu;'ce, The Interest oti S,icll.
u"i,d s.ia!i cease, and the anouit due
thereon, shuii lie set aside for its bay
ment whenever Pre-ente.! All re-
demption shall be made in the exact
order OF their issuance, beginning vt th0-
loves, or first numbcr; and the notice
herein required, saail be directed to the
post oifice addressof the oN neraa show n
by the record kept ia the Treasurer
office.
so. II The Board Of Supervisors OF
| any county which has i.st.cd bonds
un.ier The provisions al this Att, SlimlE
fail 20 Nuke the levy necrssAry ~ pay
such bonds, or interest ,suIoi,>, At MAJ
! iurlty, and the eame shall have U<tlIt
presented to the cnunty Treasurer. ~s,d
| the paynien; thereof refused, iile OWN.
er may file the bond, together with nil
the unpaid coupons, with tire Audifhr
OF state, taking his receipt iharet.sr. .NssSe
the same shall h. registered Ia tl,c Aus
.iitor's Office; aud il shall then he ,lAA,
duty Of the Census Beard, at their next
session ~ "A Board Of Equalization. ami
at eacl, annual sqMtlizsH ien ,hereatlrri,l
to add Ia the State tax n hA i-vitsf In
said county, u sufficient raie tu reaiine