The Manitowoc tribune. [volume] (Manitowoc, Wis.) 1866-1878, 1872-01-25
A BILL.

bill introduced by Senator Schmidt to authorize
the city of Manitowoc to borrow money for the pur
=. pose of building bridges
The people Of the Sttte Of Wisconsin, represented in
| Senate and assembly. do enact as totEotos:
SECTION l, The board of Aldermen of the city OF
Manitowoc are hereby authorized to borrow such
sum or sums of money, not to exceed in the
such times said board of Aldermen may deem nee
essary for the purposes hereinafter specified and at
the rate of interest not to exceed ten per per
annum.
Sec. .. For the sum or sums of money so borrow
ed the said board of Aldermen may cause city orders
city bonds be issued hic orders bonds shall
gned by the mayor of said city the city clerk
and be in such den onliDations be thought
by the said board of Aldermen and shall specify the
time when each such order bond shall become
due and payable; provided, however, that no such
order or bond shall be issued for longer tern, or
period than ten Years after the date of issue Said
orders bonds shall have interest coupons attached
thereto, for the interest falling due thereon in each
year. and such coupons shall be taken in payment for
city taxes in such years in which such coupons may
become due and pay able.
Sec. g. TIE moneys so borrowed shall be used only
for the following purposes, to wit:
A sum not exceeding twenty thousand dollars for
the purpose OF building a bridge across Ms,natowoc
river, place where Main street, in said city of
Manitowoc crosses said Manitowoc river
A sum not exceeding twenty Thousand dollars, for
rebuilding the bridge said Maritowoe river in
city, where Eighth the said river
A sum not exceeding twenty thousand dollars for
building briige across said Manitowoc river such
place in said city, above Main street. the Board
Aldermen OF said city may deem best for the public
interest.
Set
nor be needed for she purpose of building any all
OF the bridges, specified in section OF this the
board of Aldermen may the residue for the pur-
pose of building another bridge said Mantowoc
river at any point above said Main street, in said
city as the said Board may deem best; but money
borrowed under the provisions OF this act shall be
used for the purpose of repairing bridges. paying
interest or principal the orders bonds issued
under the provisions of this act or principal or in
terest on any ether Indebtedness said city may have
contracted, may hereafter contract, for any
other purpose whatsoever, except as specified in sec
tious 3 and of this act.
Sec s. 1t shall be the duty of the city clerk of
said city of Manitowoc whenever any orders bouds
shall have been issued under dine provisions of this
act add annually to the amount of taxes levied and
assessed the Board of Aldermen city for the
purpose OF detraying the general and special
said city sum equal to the whole amount of prin-
cipaI and interest such bonds which NAV
become due and payable during the year next sue
ceedirS the levy assessment and collection of such
taxes, and the sum or added to the amount
off,xes levied by said board of Aldermen, shall be
assessed ami collected in the same manner as is now
or may be hereafter provided by law.
Sec. o 1t shall be the duty of the Treasurer of
said CITY OF anitowoc to pay presentation, out of
belonging to the general fund said city all orders
bonis issued under the provisions of this act
any coupons thereto, which may lie ONE due and
payable. And in such orders, bonds or coupons
shall been paid of moneys belonging to the
he reimbursed by the taxes ordered to be levied assess
ed and collected by sec ion . of this act
Sec. 7. All orders bonds or coupons SC paid by the
provided in section of this ACT SHAH
forthwith; cancelled by said treasurer, y writing
printing stamping the wcrd paid, in clear lesi-
bic letters. the face of such orders bond OF ccu
IL rs an the shall b.. counted entered and
cee in proper books to be kept by said treasurer and
eiestrs Ell in the other city orders,
bonds or coupons issued by the city of Maaitowoc
are esnnfed anil destroyed
Sec s No order bond or coupon issued under the
provisions this act and paid by the city treasurer
shall ressuel shall orders, bonds or cou-
p5ns be issued for those which have been paid cam
celed and destroyed, prescribed ia section and
Of this act
Sec All acts and parts of acts, as far as they
conflict with the provisions of this act, are hereby
repealed
its passage, and publication.