, 1877-03-17
Anxiety Of the Town that Got the
Railroad to Have the Next
Town Help Suffer.
Illinois to See that the Bonds Are
Paid, Without Danger Of
Paying Them Herself.
This Patcrnal and Fraternal Prof.
oct Now Going Through
Finely.
Mr, Frank Adams Deals the Tax-Fight.
ers Some Loud Knocks.
ILLINOIS,.

ILLINOIS.
ErATK SUPERVISION or LOCAL INDEBTEDNESS.
Special Dispatch to The Tribune
SPR1NGFlELD. March 1G-Nlr. Crooker's bill
providing for the consolidation and rcfuuding
of municipal indebtedness WAS taken up On
sccond reading, and was discussed at length.
The full text OF the bill is as follows:
A.B1l1. for act to amend IN act entitled IAN.
act r"la1u. t. county and city debts, and to pro-
vide for tAc pa:nent Thereof BY taxation in
such counties and cities" approved Feb. Is,
lssl and 10 amend the title thereof.
SETON !. Re it. cnactc1 by the People OF the
ftate"f Illinois, repFestn'ed in the General AS
eeMlly. Tfat all act entitled AN act relating to
county and city debts, and to provide for the pay
tn.n, thereof by taxation il snch counties and
;thc said act be and the same is hereby amended
to Ike read as follows: The title Of the sad act
stha be AN net to enable Counties cities, towns,
townships. school districts, and other municipal
srorporaiions to fund, retire. and purchase their
outstanding bonds and other evidences OF indcht-
d1'e-s. and to provide for the registration Of
H,unds other evidences Of Indebtedness In the
1tl!ce ct tt1H Auditor Of Public Accounts
The rst and subsequent sections Of said act shall
a'en- follows: Sec. l. That in all cases where any
county, city, town, township, school district or
other municipal corporation has issued bonds
other evidences Of Indebtedness for money. which
t<rc the binding, subsisting obligations Of such
county. ci1y. town, township school district, or
other municipal corporation, and the same or any
7urtlnn thereof remain outstanding and unpaid, it
@na be Lawful for the proper corporate authorities
of any such county, city, town, township. or other
municipal corporation, upon the surrender OF tilch
aonds or other evidences Of indebtedness, or any
ac:nbes or portion thereof, to issue in lieu or place
thereof to the owners of the same new bonds or
other evidences of Indebtedness in such form for
euth amount upon such time. not exceeding
1wenty wears. payable at such place, and bearing
tuch rate of interest not exceeding the rate OF in
1e,est specified in the bonds evidences OF ndcbt
cdness in lieu Of which they arr Issued, may be
<~.rccd upoa with the owners or holders OF such
outstanding AthGf evidences JudGbfAd-
ness. And it shali also hc lawful for the proper
Corporate authorities OF any such county, city,
Gown, township, scLoo}- -distEct, other munich
pal c2r;loration to issuc the bonds or other cvi-
x:encce f Indebtedness Of such county. city, town,
fown>l4G school district. or other municipal cor
1foratlon, and sell the same 10 raisc money to pur
cha retire any all OF such outstanding bombs
cr other evidences Of indebtedness; such bonds OF
evidences Q! Indebtedness to be in such snns, bear
Eucl rate OF interest. not exceeding 10 per cent
pes aunum, and be payalle at such time and rlacc,
Us may be specified in the vote OF the people au-
such bonds To he expended under the direction OF
the corporate authorities aforesaid in tue purchase
or retiring of the outstanding bonds or other
evidences Of Indebtedness Of such ooun-
", city. town, township, school district. or
eher municipal corporation md for no other pur-
pose ~aatcscr. All bonds or other evidence: OF
indebtedness Issued under the provisions, Of this
ret siaa show upon their face that they are issued
7nder this act, and the pnro-c for which they are
!stned and may provide fo5 the paymsnt Of pr.
new 1h,ns.a other evidences OF indebtedness au-
1hori2ed to be issued by this act shall not be for
greater in the aggregate than lhe principal and
kccrucd or earned interest unpuid Of such ont
Standing bonds other evidences Of Indebtedness:
Jro,dfd, That no new bonds or other evidences Of
thr shall Ike first authorized by vote Of i
majority OF the legal voters OF such comfy. city,
town, township, school district or other munich
pal curuuSat.o1h voting ut rome general election or
special election held for that purpose.
SEt. .. pon the surrender Of any such bond or
othrr evidence Of indebtedness under this net. the
ttInt S@,!N rrn in6 and
time to time bc destroyed under the direction OF
the authority issuing the same. Ipon the Issuing
II any new bond or evidence OF Indebtedness, the
Clerk other officer having custody Of the records
o! the fiscal matters Of such county, city, town.
township. school district, OF other municipal cor
porsron. the case may be, shall make rcgistra-
linn thereof in book to be kept in his Office for
tna! purpose, showing the date, amount, number.
date of maturity rate Of interest and place OF
payment II such new bond or other evidence Ut IN
dc1tcdness. and the description of the bond or cr-
dtnee Of Indebtedness fur which, ar for the puTchns-
Ing retiring Of which, the was given as nearly
a. practicable On presentation OF any such new
hund other evidence Of Indebtedness iseued under
this act, the Office of the Auditor OF Public Ac.
counts for registration. the said Auditor rhai!
book 10 be kept for that purpose such registration
shall show the dste, amount number, date Of ma
tnrit. rate OF interest," time when such intrrret il
payable, and place Of payment OF the principal
ind interest Of such bond or other evidence Of in
debtedness. under what act. by what authority, Tor
what purpose, and Ivy what county. city. town,
township school district, or other municipal cor
,,o.a,ior ir.ucd and the name OF the person or
l'eFrons presenting the some 70. registration: and
for such Registration the Audltr fhall be entitled
to a fee OF - cents and the Auditor shall. under
lis seal OF Office certify upon such bond the fact
be entitled to fee Of - Cunts such fees to be
paid by the person or persons desiring such regis
trntion and certificate
SEC 3. In all cases where any county. city.
town. township. school district or other municipal
corporation shall ssue any bonds OF evidences o.
Indebtedness under this act it shall be the duty OF
fhpF7
TO whom TO whose office the assessment ru's for
State taxation Of the property within such county,
CITY. town. township. school district. or othss
municipal corporation, are. or shall be. rcturnabc
within i've days after the tol vnc OF the properly
subject taxation there shall be returned 10 MN
70 make out and transmit to Tie Auditor o. r"oe @
ting foh the total value OF ai1 taxable pIopefty o.
every nature and description within such comfy
municipal corporation Us exhibited by such ssscss-
nleut- -.
SEc, 4. When the bonds or othcr evidences OF
Indebtedness Of any county, city, town. township
tcLoo district or other municipal corporation 10
the amount OF 81, O00 shall be so rcgstcTed. tne
Auditor OF Public Accounts shall annually ascertain
tue amoupt VI interest for the current year due
and accrued, and to accrue on AL such bon..s and
evidences Of indebtedness registered IN ms ounce
on the 1st day Of January then next prcGcans: 70 70
which amount where such bonds or evldences o.
Indebtedness provide for the payment o. port'on
of the principal thereof annually he shall add sush
N amount us shall b. equal y The portion o. 1ne ~
Indebtedness to be paid, and shall upon tne
tasis Of the certificate OF the Fa'uatlon OF
property 20 to be transmitted to him Is a1cre-
said OF in case no such Certificate Et,a1 be trans
nit ted to him. or FLED in his office. then upon 'ae
basis of the total valuation OF the property IN sncn
county, CRY. town. township, school ul>lI1cI OF
othe: municipal corporation for tho year next PIE
ecdinr. estimate aud determine the rnfe per cent
upun the valuation of such property requ1ste -
and satisfy the eaid interest or interest," anu
principal. as the may be. together "s1n ,ae
ordinary the STATE OF the co4lecton ana us
bursencnt Of the same, TO be cstlmaea ~ ne :Aa
di1or and state Treasurer: and SHAH make anu
transmit TO tie Comfy Clerk Of such county OF o.
The coCE;y il. which such city. town toWnsnip.
scdot,l district, or other municipal ecrporat!on
j. situated. " 10 the officer OF outnof1t! "aose
drtv it iR or may be to prcraFc tne csnua'es
and books for the collection OF states laAes
in such comfy, city, town, township, senooi o1s-
trict O: other ,nurcina1 corporation. certfheate
setting FORTH snch estimated requisite TIT GEM 1ui
Ench purposes 10 BE- fled in his Office: and .hc sall
per cent rhall 1Ecrcupon hc deemed added 70 anu
part q the },cr which ls or may &c 1etleu ~
provided bv law for the purposes Of State revenue
unl shall be 20 treated BY euch Clerk. o!ncer. ot
authority. in making such estimates anc BOOKS 1ot
the collection Of State taxes, and the eald taAes
eaa! be collected with tho State taxes anu a. AVS
xr'atsng 10 the State rerenue shall Apply tAe1eo
except u herein otherwise pruyidcd ana saeh per
cent si.al o. t,iucted fsm tue levy o! such coun-
ty. CITY. t1wn township. school DISTINCT or olheE
municipal corporation for the current OF ensuing
year.
SEC. 5. The State shall be deemed the cus1ooian
oa1y Of thctaz 20 collected and Shsll not u