Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1871-02-16
CHPTER 27-LocAL.

AN ACT TO authorize joint school district Ne. hve OF
the town OF Lima and Clifton of the county OIL
Grant and the town % Miiin, OF the county Oh
Iowa. IT, borrow certain sum oil money
the pe,ple of the State of Wisconsin, represented
in Senate and A>sembly, do enact as 'liows:
spCTloy 1 The district board Of joint school dis
trsat No. 5 of the town Of Lima ana Chft9n' IN
Grant county and the town of Miiiin in Iowa coun-
ty and State of Wisconsin, for the purpose OF pay
ip,s debt due for erecting school house IN sBlu
iii strict are hereby authorized ana empowered up
on rhe faith and credit Of said district, to borrow
SUN Of money not exceeding one thonsafd dollars,
upan period Of time not exceeding tVe Years, ana
at zach rate of interest as ma, be agreed upon hoS
exceeding ten per cent. per Hnnuln; and SAID dis
trict hoard are hereby authorized TO give notes,
bonds or execute nortga upon any OF the proper
v real or personal belonging to ,uch dis riot, to
secure the payment OF the prlhcpa' ana interest up
on the sum so borrowed.
Src 2 Said district shall annually, during the
continuance of said loan raise by tax upon the tax
abls property in said district, sum OF money suii
cen ia pay the interest thereon annually, and at the
expiration of five years sufficient amount to pay
tho principal of said loan IN fu and the clerk %
said district is hereby authorized and directed, in
each aud every year during the continuance oi said
loan with or without vote of the electors OF sasd
dis,rct Ia certify to the clerk of each town. In
sle same manner district clerks are now requre'l
by law To Gently TO town clerks, all school d'tet
taxes an amount sufficient to lqudate annually me
interest on said loan and at the expiration OF i've
Years the principal thereof, which amount when so
certified saal be inserted in the tax rolls Of said
towns and collected rs other school district taxes
are collected and when so collected shaf be applied
10 tive objects herein specified and no other.
SIC. g. For the purposes Of carrying into elect
the foregoing provisions, and assisting said school!
district TO raise said sum Of money for the object
aforesaid the commissioners of school and uni ty
lands are hereby authorized to loan to said joint
school district No. 5, of the towns Of Lima
and Clifton Of the county Of Grant, and the
town of Mieln Of the county Of Iowa Aforesaid. out
of any of the trust funds in their charge ard under
thair control a sum of money not exceeding tho
amount stated in the first section of this act, and for
sch ern or terms Of time, not exceeding five years,
as the district board of sud school district may de-
sire aud at the legal rate Of Interest per annum,
and upon such security as said commissioners shall
prescribe and require ard all the taxable property
of said strict shall stand charged for the return +
said loan and the interest thereon. And the bound
aries of said school district shall not be altered y
to exclude thcreronp any lands now included therein.
until the loan hereby authorized shall be fully paid.
and it shan be the duty the Secretary Of state Mt the
line he shall certify 10 the clerks of the boards Of
superyisors the amount of state taxes also to certify
TO the town clerks gf said towns OF Lima, clifton
and Miiflin the amount that shall be dee or become
due for that year, of principal and interest on said
loan and the town clerks OF said towns shall there
upon insert he amount certified in the assess
ment roll OF said towns tax upon said school dis %
trict without any further other authority, to be
collected as other school district taxes collected
and paid over the district board and by said board
paid over to the State Treasurer upon such loan.
SEC. T. This act shall take effect and be n forcs
from and after its passage and publication.
Approved February 1, ISL.