Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1870-03-22

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Of ouch egisraslon for which registration and ce,ta
cate ne sA be entitled TO fee oftwenty cents 90
be paid by the holder Of said bond =
SEc I. In all cases when any town incoynara.ed
CITY or village shall Issue bonds under Inc uroysons
oIinS ana oe entitled 70 the benefit Of this act T.
shall be the dirty Of The town CLERK OF such town. or
other poperoce Of such Incorporated city or village
In whose oice the assessment rolls Of such town city
or village are, or shall be When completed within ve
Gays arer such complecn, 70 make out and transmit
70 the Secretary OF state 70 be led Ia his Office
utcete stating the total value Of ali taxable property
real and personal IN such town, Incorporated city or
village, as exhibited by such assessment.
SEC. S. When any such bouda of any tosn, lncor-
porte0 city o. vilags aha be fetered In this act
provided, tho Secretary Of state shall annually
tain the amount Of Interest for the current year due
and accrued and TO accrue upon such bonds, and
from The amount ascertained he shall deduct the
amount III the State Treasury placed 70 the credit Of
suchton, Incorporated city or village herein pro-
ydee end directed and from the basis OF the ceincate
ofvauation OF property herenbefore provided 70 be
transmitted 20 hfm in such certificate shall
he hled In his office, then rpon the basis Of the total
assessment Of such town. Incorporated city or village
for the next preceding, he shall estimate and de-
ternine the rate percentu the valuation proper
81 within ouch town, incorporated city or village
requisite % satisfy the amount Of interest unprovided
oF together with the ordinary costs 10 the State for
collection and N sursemsnt Of the same 20 he eslima
ted BY him. and he shan make an6 transmit 20 the
clerk ~ such town incorporated city or village or
other proper oihcer, whose duty shall be to prepare
the estimate and books for collection Of state taxes in
such town, Incorporated city or village, certificate
stating such estimated rensste per cen,rr Tor amer
purpose, 20 be hled Ia his Office, aud the per
eentuin shall thereupon be deemed added 70 and be
part Of the per centum which is Or may be levied as
provided BY law for the purpose OF state revenue and
shall be 80 treated by such clerk other IN aak
Ing such estimates and books fer the collection Of
taxes; and the said tax shall be collected With the
State revenue and al laws stlng 70 the stale
nue. shall apply thereto, except as herein Otherwise
provided,
SIC. .. The state shah bs deemed the custodian Of
the several taxes collected aid credited 10 such
town, Incorporated city village, and shall not be
desme5 AZ any manner liable on account Of any such
bods except to the extent OF the motley received for
their payment under the provisions OF this act The
state shall annually collect ia lawful money all the
said taxes 70 be placed 20 the credit OF such town.
coporGted city or village aforesaid, for aud until
the bonds fully paid, and shall apply the same when
collected, 70 the payment OF the principal and annual
Interest on such registered bonds Of such town. incor-
porated city or village, and for and during the re-
mander OF the term OF years during which such regis
tered bonds shall remain unpaid The fnds provided
for in section -four Of this act, accrng taxes
license fees collected the pro rerty or earnings of
said railroad railroads. and the surplus Of the other
funds In this act provided remaining after the payment
Of the Interest on the bends shall be applied to the
payment OF the principal Of said bonds as
hereinafter provided at the Office Of the State Treasurer
ana the Interest coupons and bonds when fully paid
shall be returned 10 the office Of the State Treasurer
and shall be Cancelled and destroyed and the funds
derived from the special taxes collected the ncreas
cd assessment over the yeaI 1869 and the tax levied
20 meet the Interest said registered bonds shall con
tue to be Annually applied TO the payment o. Interest
ana principal untiithe bonds are fully paid.
fEc. 10. And II shall not be lawful to register any
bonds under the provisions OF this act ner TO receive
any OF the benefits Or advantages TO be derived there
FROM until the railroad for the purchase OF whose stock
said bonds were issued shall have been completed
such point as may have been agreed upon, near to,
into, or through such town, Incorporated city VIII
age and cars shall have thereon and none Of the
benefits advantages or provisions Of this act shall APP
ply any debit unless the question OF making the sub
scnpton 70 the stock OF such railroad company shall
have fret been submttedto ofelection the legal vo
tiers OF incorporated city village, here
matter provided
SEC. II. In all towns, cities and villages having
incurred indebtedness and issued bonds therefore, 70
which this act applies there shall annually be raised
special tax called the railroad tax the amount Of
which shall be ascertained by applying the same rate
per cenium used in producing the state and county
taxes combined forhe year. the Tor increased
value Taxable property after 1t is equazed for that
year. over the year 1862 and the clerks Of the severa
towns cities and villages Gas the case may bel shall ada
the amount thereof thus ascerained the other taxes
% belaised and cause the same to be collected, and
the town treasurer s hereby directed and required to
collect the same with the other taxes and when coll
iected 70 treat II part and parcel Of the State tax
and when received by the State treasurer, 1t shall be
credited TO such town. city village and used In the
payment ofits bonded Indebtedness contemplated
In this act.
Sec. II. This act shall be construed TO authorize
and provide for the payment and the registry by the
secretary OF state, Of bonds Issued In payment Of sub
scpuons 70 the capital stock Of such railroad to
tne extent OF five thousand dollars per mile and no
more, N the aggregate Of It's entire length eithn this
state also 10 provide that the amount Of stock which
any on town. city village votes for subscribe
shall not exceed It's equal proposition proporon
cording 70 the equaeed yaue CT the property Of the
several towns cities ana villages through which the
railroad such portion thereof fsto ~ built within
aXedS lime, under single agreement, passes.
sec. -. The bonds o. each and every tom, city
aud village, iss1ed and registered required by this
act, SHAH be numbered from number one, upwards In
the sase order as issued, and endorsed by
ton printed on the back OF each, that they shall be
payable In the same order, and fast the funds
provd from all sources by this act, in the hands Of
the state treasurer will warrant whether due according
70 the terms therein expressed not, and for this
purpose said reasurer shall 70 be inserted Ia
the hrss daily issue Of the official state paper in Jan
uary, April July and October Of each year, notice
giving the name Of the town, city or village whose
bond or bonds provided for, and their numbers
tlns payable from the funds the treasury applica.
Die thereto, and the elect Of such notice shall be 10
stop ne Interest on such bond bonds designated,
rom sud after ten days after such publication, and
uhtltei pesentation for payment with all unpaid in
terest eoupOnds rgtached
Sec. Is. This act shall he construed 20 prohb-
towns. ctes villages Issuing bonds In aid Of rail-
roads ~ any greater amount than Eve thousand dollars
per fe, under any laws heretofore hereafter 20 be
enacted by the lsgi stature or this state
sec. %. This act shall take effect and he In force
from aed after ts passage aud publication
al a