The Emporia news. [volume] (Emporia, Kan.) 1859-1881, 1875-02-26
L.EGHSLATION FOR LYON
COUNTY.

is TO decrease our railroad debt.
This is to be done first, by the sale
of our stock and second by the
purchase of our bonds at a certain
per cent. hereafter to be agreed
upon, the Commissioners TO Issue
new bonds to raise the money for
the purchase of our present bonds.
This all to be done, as will be seen,
after a vote of our people, SO that if
anything is done under these laws
the matter is to be first brought be-
fore the people. If our debt can be
decreased in this way the laws will
work for the good of all.
AN ACT
To authorize the county commits
sioners of any county, the MAYOR
aud city council of any city, and
the trustee, clerk and treasurer of
any township, to sell railroad or
other stock, owned by such coun-
ty, city, or township, and apply
bonds issued, therefor
BE az enacted Ly The Legislature oil
the State Of Kansas.
SECTION l. That the board of
county commissioners of any coun-
ty, the mayor and city council of
any city, and the trustee, clerk and
treasurer of any township in this
state, that has heretofore or shall
hereafter subscribe to the capital
stock of any railroad or other COM
pany or corporation i'm this state,
and has or shall issue the bonds of
such county, city, or township in
payment for such stock and has or
shall receive from said railroad or
other company or corporation, GER
titicates Or other evidences of owner
ship by such county, city or town
ship in or to the capital stock of
such railroad or other company or
corporation, arc hereby authorized
to sell the said stock, or any part
thereof, on snch terms and condi- |
lions as they may deem for the best
interest of such county, city, or
township, and apply the proceeds
of such sale to the payment or pur- |
chase of the outstanding bonds of
such county, city, or township, and |
such sale of stock shall transfer and |
convey to the purchaser Thereof all
the right title and interest OF such |
county, city or township in and to |
such stock; also, all claims and !
rights of such county, city or town
ship, whether ofdividends or other
wise, and all rights then existing or
thereafter arising or ACQUIRING in be-
half of such county, city or town
ship by virtue of it's previous own
ership of such stock: Provided,
That such stock shall not be sold
unless authorized by a majority
vote of the legal voters of such
county, city or township, at some
general or special election to be Or
dered by the board of county COM
missioners of such county, the may
or and city council of such city, or
the trustee, clerk aud treasurer of
such township; which election
shall be held, the returns thereof
made, and the result declared, in
the same manner as provided by
the general election laws of the
state, as far as the same are appli-
cable. PTOriIed further that the
price at which the stock is to be sold
shall be stated in the proclamation.
SEC. B. This act to take effect and
be in force from and after it's pub
LEGATION once in the Kansas Farmer.
AN ACT
To enable the board of county COM
missioners of Lyon county, Kan
sas, 10 fund the railroad bond in
debtedness of said county.
BE it enacted by the Legislature of
The State Of Kansas:
SECLIoN 1. That the board of
county commissioners of Lyon
county, Kansas, be and they are
hereby authorized to fund the rail-
road bond Indebtedness Of said
county.
SEC. 2. For the purpose of fund
ing said Indebtedness, said board of
county commissioners are hereby
authorized to Issue the bonds of said
county, not to exceed in amount
the sum of three thousand dollars,
or so much thereof as may be nec-
essary, in sums of not less than five
hundred dollars nor more than one
thousand dollars each; said bonds
to draw ten per cent. interest per
annum, payable semi-annually, with
interest coupons attached, aud to
run not to exceed fifteen years.
And the principal and interest of
said bonds shall be payable at the
fiscal agency of the state of Kansas
city of New York. Said bonds to
be sold for cash at not less than
ninety-five cents on the dollar, and
the proceeds expended in the pur-
chase of said outstanding RAILROAD
bonds at the best price at which
they can be purchased, not to ex-
coed sixty-five cents on the dollar |;
or said county bonds may be ex-
changed at their par value for the
outstanding railroad bonds of said
county at not more than sixty.five
cents on the par value of said out
standing railroad bonds: Provided,
That no bonds shall be issued un
less authorized by 9 majority vote
of the legal voters of said county at
some general or special election to
be ordered by the board of county
commissioners OF said county:
which election shall be held, the re-
turns thereof made, and the re-
suit declared in the same manner as
provided by the general election
la - of this state. 80 far as the same
are app,.c"able,
SEC. 8. TIA. a. act TO take effect
and be in force from All. etteF its
publication once in the EMPonIi
NEWS, at EmnOria Kanaaa