Dodgeville chronicle. [volume] (Dodgeville, Wis.) 1862-current, 1873-08-25

IeaUy fe1eTieQ 10 dIu Ill SeIy QuObSQ
from, confeFs special powers of COM
promising this county Indebtedness,
and prescribes the mode in which
those powers shall be exercised.
This act by its own force repealed
all laws in conflict on inconsistent
with it, and thereby took away from
the board Of supervisors any gem
eral powers, which it might possess
of compromising this Indebtedness
in any other mode. Next and last,
the act of March 18th, 1873, was
passed. This act confers special
powers upon the board of supervis-
ors to compromise and settle this
Indebtedness, and prescribes with
much particularly the mode or
modes Of procedure, to which the
board is confined i'll the exercise of
this power. By its own force it
repealed the act of 1869, so far as
that act authorized the fund commits
Ssoners to compromise, and left it in
force, SO far as related to their du-
ties of receiving, keeping Or invest
ing and paying out any funds APP
plicable to the liquidation of the
debt. 1t also by its own force took
away from the board any remaining
general powers Of compromising, if
any such did remain; though we do
not think there did.
1t follows then that we must look
exclusively to the act of 1873 for
the powers of the board of super
visors to compromise the county in
debtedness.
The title of the act shows that
the Legislature thought it necessary
to confer the authority. It is as
follows:
can act to authorize the county
Of Iowa to settle and compromise
its railroad bond Indebtedness"
An accurate understanding of the
powers of the board, and of the
mode in which alone they are au-
thorized by the law to be exercised;
can only be had by quoting the first
three sections of the law at length:
"SECTIoN 1. For the purpose of
compromising and settling the rail-
road bond Indebtedness of the coun-
ty of Iowa, based and founded upon
bonds heretofore issued, to aid in
the construction of the Mineral
Point Railroad, by authority Of an
act to authorize the counties and
towns through which the Mineral
Point Railroad passes to aid in it's
construction, approved March Odd,
1858, and which said indebtedness
may, at the time Of settling or COM
promising the same, be represented
by bonds, coupons or judgments
rendered upon the same, the ard
Of supervisors of. the county Of Iowa
shall have po,0cr to compromise and
settle said Indebtedness or any part
thereof, upon such terms and con-
ditions as to them may seem most
advantageous and beneficial to said
county, as hereinafter provided.
"SECTIoN 2. The said board of
of supervisors may in it's discretion,
appoint three Of ITS members committee
to negotiate for such compromise or settle
naent, uader the direction Of said board,
and said committee shall, whenever
they shall have agreed with the hold
er of any Of said indebtedness, to
settle the same, cause an article Or
agreement in writing to be made,
stating therein what is agreed to be
settled, the terms of settlement,
both as to amount, interest, mode
and manner Of payment, which shall
be signed by the parties making the
same, and shall then be submitted
to the board of supervisors afore
said for approval or disapproyal.
Ii said agreement be approved by a
majority of two-thirds of said board,
the same shall be carried out and
fulfilled by said board, but if said
agreement shall fail to receive such
approval of said board, it shall not
be carried out or fulfilled, but shall
be null and void. The said board
OF supervisors shall have full control
and power over said committee, and
may at any time remove all Or part
OF its members, and appoint new
ones III their places, Or may abolish
said committee altogether.
SECTION 3. For the purpose of
fulfilling or consummating any
agreement made by the said board
of supervisors, or by the said COM
mlttee, and approved as above pro-
vided or for the purpose of raising
or borrowing money to fulfill and
consummate the same, the said board
OF supervisors of said county of
Iowa shall have power to issue
bonds, with interest coupons attach
ed, promissory notes orders or drafts
for such sum or sums, to such Der
son or persons, or corporation, bear
ing such rate or rates of interest.
payable both as to principal and in
terest, at such time or times, place
or places, to order or bearer. as man
be necessary to fulfill said agreement, or
shall have power to stipulate and
agree with the holder of any of said
Indebtedness, sObo mag haze the same
mJ"1gment, to pay certain sum and
interest thereon into the court where the
Judgment may be, in satisfaction of
the same, the creditor being permitted to
hotd the judgment as security for the full
tillment of the stipulations; the said
stlpnlations must be placed on rec
ora In the said court, and must also
have first been agreed to by the said
board or said committees and