Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1873-04-17
Laws of Wisconsin.
published April 8, 1879
CHAPTER III.

AN ACT to authorize the town of Mineral
Point to settle and compromise its railroad
bond Indebtedness.
Section !. For the purpose of compromis-
ing and settling the claims for railroad indebt.
edneos against the town OF Mineral Point
based and funded upon bonds heretofore issued
by the town Of Mineral Point, aid in the
construction of the Mineral Point Railroad
by authority OF an act 10 authorize the coun-
| ties and towns through which the Mineral
Point Railroad passes To aid i'll its conStruc-
ton, approved March 23d 1853 and which
Indebtedness may at the time of compronlis-
ing or settling the same, be represented by
bonds, coupons, Judgments, orders, or DEGREES
rendered and made upon the same, it shall be
| lawful for The board OF supervisors of the said
town of Mineral Point, i'll concert with the
| common council of the city of Mineral Point
| to compromise vr settle The said claims ana in
debtedncSs upon such terms and conditions AS
to them shall seem most advantageous and
| beneficial to said town and city. proceeding
| therein as is hereinafter provided.
Section 2. At the first meeting after the
annual meeting in A. d., 1878, or as soon
thereafter as may be, the board of supervisors
OF said town shall by an order or resolution,
to be entered upon It's records, appoint u rail
road bond committee, consisting. of four per-
sons, Who shall be selected rom, and be
| principal freeholders, tax payers, voters, and
| residents of said town; the said committee
may be, by the said board Of supervisors in
its discretion, changed from time To Lime,
either in whole or IN part, and said board shall
ill any vacancies which may occur in said
committee, by death, resignation or renewal
from the town, record thereof being always
kept, so as to show what persons compose
said committee.
Section ). Whenever the holder of any of
said Indebtedness or claims shall have agreed
with the sad board of supervisors and the
common council of said city of Mineral Point.
to tie a said ind Ri ,ai,,
IN writing shall be made and signed by the
parties making SAID agreement, which shall
distinctly state that what is agreed to be set
tied, the terms of settlement agreed upon
both as To amount, mode and manner of pay
ment. The said agreement shall then be sub
mitted TO said railroad bond committee ap-
pointed as Aforesaid, acting with a similar
committee OF seven from the city of Mineral
Point. The said committees shall meet to-
gcther tv consider the same, and they shall
endorse on the said agreement, in writing
over their own signatures, their approval or
di,appFoval thereof, and return the same to
the common council OF said city /; if the said
agreement l. approved by maj ority ct the
whole Of said committees, the same shall b4
fulhllcd by The parties making the same, but
il said agreement shall be ti>approved by Il
majority of the Whole OF said committees, it
shah not be carried out as tu flied, but Shall
be Eill and void.
Section 4. For the purpose of fulfilling and
any so HlauC ana SO
approved, or for the purpose of RAISING or bor-
rowing money To iuiiii or conoummatc the
same, The sad board of supervisors of said
town of Mineral Point shall for the res
pectIve share and proportion OF said town of
any such settlement and agreement, have
power to issue bonds, with interest coupons
attached, proni>sory notes, orders or drafts,
for such sum or sums, to such person or per
sons, or corporations, bearing such rate or
rates Of interest, payable both us to principal
or interest, at such time or times, place or
places, to order or bearer, as may be peces-
sary to fulfill said agreement, or shall have
power to stipulatc and agree with the hoider
of any of SAID Indebtedness, who may have
the same III Judgment, to pay Il certain sum
and interest thereon into the court where the
judgment or decree may be. in satisfaction of
the same, the creditor being permitted 10 hold
the Judgment as security Tor the tulfiliment of
the stipulation the said stipulation must be
placed on record IN said court, and must also
first have been agreed to and approved as
aforesaid all bonds notes, drafts or stipua-
tOns issued or made under the provisions of
this act, by said town, shall be signed by the
chairman of the board of supervisors and be
countersigned by the town clerk, and the said
clerk Is required before the delivery of any
such bond, note, order, draft or stipulation, to
make and keep Il full and fair record thereof
which record may be written or printed, or
partly written and partly printed, in a book
to be provided for that purpose.
Section D. For the prompt payment and
fulfiment of all the bonds, notes, orders, drafts
or stipulations, which may be issued under the
authority OF this act, on for the payment of
necessary expenses incurred in regard to such
Indebtedness, the board Of supervisors of the
said town OF Mineral Point are hereby authoriz-
ed and required lat the time of lcvyng their usu
al regular annual taxes, to assess and levy a
tax upon all the taxable property OF said town
from year TO year, sufficient to promptly and
faith ully pay, rs the same may become due
ali sums agreed to be paid by the said bonds
notes. orders, drafts or stipuIations aforesaid
the Interest thereon and the expenses ature-
said, and the sums so levied shall be collected
with, and in the same manner as other town
annual taxes, and all the laws applicable to
other taxes shall be applicable to taxes levied
by virtue thereof, and the moneys so raised or
borrowed or the taxes levied and collected to
pay the same shall not be diycted or used for
any other purpose, or be subject to any legal
process whatever.
Section 8. The board Of supervisors of said
town, and such of the officers of said town
and the attorneys ard agents of each ard Of
said town are hereby expressly prohibited
from issuing or delivering any of the bonds
promissory notes, orders drafts or stipulatons,
authorized by this act, except for the purpose
of settling the said Indebtedness, or unless the
same shall have been first agreed for, and ap-
proved as herein provided and any such issue
delivery of any such bonds, promissory
notes, orders draf Is stipulations or of either
Of them, except as herein provided by anv
officer, attorney or agent of said officers or OF
said town, shall be deemed an embezzlement.
and the person, officer, attorney or agent SO
offending, shall upon conviction thereof, be
punished by line or imprisonment or both, at
the discretion of the court.
Section T. Any member of said board of
supervisors who snail neglect. refuse or in any
way avoid levying the taxes provided for in
this chapter therein required to be- levied,
or if they any of the officers of said town
shall neglect, refuse or AVOID carrying out, any
OF the provisions hereof for the payment of said
bonds, promissory notes, orders, drafts or slip
uations, not made the subject of special
penalty, such person or officer shall be deemed
guilty OF a misdemeanor, and upon conviction
thereof, shall be fined in any sum not exceed
ing five hundred dollars, or be imprisoned in
the county Jail of Iowa county not more
than six months. or BOTH at the discretion of
the court All fines imposed and collected for
violation hereof, shall be used exclusively to
pay the obligations authorized by this act
Section s. This act shall take effect and be |
in force from and after its passage and pub
LEGATION.
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