Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1881-05-04


as rent under any lease made under this act shall
not exceed one hundred dollars per annum nor shall
ne price Tor which the said village may purchase the
Tue sao bridge exceed twenty thousand dollars.
Section T. For the purpose of repairing, widening,
e1tenolng OF rebuilding any such bridge bridges
OF any part thereof each of said villages is hereby
autnoItzed 10 borrow q sum or sums Of money not
exceeding ten thousand dollars in ALL for period Of
not more than twenty years and at rate of interest
no, exceeding seven per cent per annun, the princi
pal ana interest to be paid at such times and places
W. may pe agreed upon and to the payment OF
the moneys 20 borrowed each Of said villages is
thoIlzed to issue its bonds with interest coupons at
t"ceo III anyprOper from and pursuant to any
ent mede and authorized by this act provided that
nclther OF said villages shall borrow any moneys for
tne purposes aforesaid unless the other shall also
borrow its proportion Of the moneys to be raised for
the aforesaid purposes.
section S. To provide for the payment Of interest
incurred for moneys borrowed under this act, each
OF SAID villages shall annually levy tax upon all the
ta1aDe property therein sufficient to pay the prnci
pal and interest it's bonds issued by virtue of this
aGt as the same shall become due and payable, and
all such taxes shall be levied and collected at the
same time and fn the same manner as other taxes
are levied and collected in said villages respectively
oecuon o. The proportion which each OF said vii
laes snail pay of the amounts expended to be e1
pended for the leasing or purchasing of said
bridge or bridges for any other purpose authorized
py thls act shall be such as may be agreed upon by
tue presidents and trustees of both of said villages
or by such other officers may from time to time be
lawfully authorized to exercise the corporate powers
Oh tMo villages respectively, and all power and
OF SAID villages may be exercised by the officers
aforesaid.
Section7 No bonds shall be issued nor shall any
tax be levied under this act by either Of said villages
unless the question of eyying such tax or issuing
such bonds shall have been submitted and adopted
IN the same manner and upon the same notice az is
required by 81 cdon one thousand three hundred and
of hs revised statutes for the there
in referred to.
Section g. Section one thousand three hundred
and twenty two OF the revised statutes is hereby
1nade applicable to the purposes and objects of this
act.
Section 9. This act shall apply to each and every
village In this state situated mentioned, first
section OF this act whether sTch village be incor-
porated under the revised statutes under special
act and the charter of every such village incor-
porated by special act is hereby amended accord
ingy.
Section 10. This act shall be construed Hberally
ana favorably to the purposes and objects Of the
same, and shall take effect and be in force from and
after its passage and publication.
Approved March 81, 1881.
Published April 8, 1881
CHAPTER 30s.
AN ACT TO authorize the state librarian to deliver
books, OF which there arc duplicates in the state
library, to the president OF the university Of Wis
eonsin for the use Of the law department.
Tne people Of the state Wisconsin, represented in
senate and assembly, do enact az follows:
Section l.. The librarian of the state library shall
deliver to the president of the university of Wiscon
sin, for the use of the law department Of said uni
versity, all such books, of which there duplicates
in said library as the trustees thereof may in writ
ing designate and direct to be SO delivered.
Section This act shall take effect and be In force
from and after its passage and publication
Approved April 2 1881.
Published March %, 1851
CHAPTER 1877.
AN ACT to authorize loans and extensions or loans
from the trust funds of this state
The people Of the state of Wisconsin, represented
senate and assembly, do enact as follows:
Section l. In addition to the investments perm1ttcd
by existing laws, the commissioners OF pubic LANDS
arc hereby authorized in their discretion to 1nvest
the school fund, the university fund, the norman
school fund and the agricultural college fund, 1roa
time to time moneys belonging to those funds may
be in the state treasury in loans to towns, villages
cities and countless within this state rs hereinafter
provided and every town, village, city and county In
this state is hereby empowered to borrow or SAID
commissioners, from said funds or either OF them,
such sum or sums Of money, for such time and upon
such conditions and terms as may be agreed upon oy
and between the commissioners, and the town, VII
lage, city county applying for loan subject how
ever to the limitations, restrictions and conGuons
herein set forth.
Section @ The loans provided for in this act may
be made for any term not exceeding twenty years,
may be made payable in instalnlents and may BIO n
such amounts shall not, in connection with Sal oLh-
Indebtedness OF the town. village, city county,
applying therefor, exceed five per centum OF the
average assessed valuation OF the taxable property
therein for the three years next preceding the aPph
cation for such loan; provided that such loan may be
made to pay off existing Indebtedness, and may be
paid in lnsallmes as fast az sucn
the evidence thereof is cancelled. The interest to
be reserved and paid upon such loans shall be at the
minimum rate established by law at the time tie
loan is made and shall be paid in advance from thas
date the first day Of the next January and thereaf
ter annually in advance, as hereinafter provided.
Section 8. Every application for loan under the
provisions of this act shall be made in writing stating
the amount required the purposes TO which it to be
applied, and the time and terms Of repayment, and
shall be accompanied with due proof OF the assessed
valuation for the preceding three years, of the taxa
bic property within the town, village city or county
making the application, and Of the existing indebt-
edness thereof; but no loan shall be made to any
town unless it shall appear to the satisfaction OF the
said commissioners that all the supervisors Of such
town have approved and authorized the application
therefor any village unless 1t shall appear that
the application therefor has been approved and
authorized by vote of not less than threefourths Of
all the trustees Of such village, had and taken by
ayes and noes duly recorded at regular meeting
thereof to any city, unless it shall appear that
the application therefor has been approved and
authorized by vote Of not less than two-thirds Of
all the me abers OF the common council, had and
taken by ayes and noes duly recorded at regular
meeting thereof; to any county unless the apph-
cation therefor shall have been approved and author
lied by the vote of not less than TWO thirds Of all the
members Of it's board of supervisors at some regular
special session thereof.
Section f. In case the application for any loan
under the provisions of this shall be approved by
the said commissioners, they shall forthwith cause
certificates of Indebtedness to be prepared in proper
form, and transmitted to the town, village, city or
county submitting the application. The said cert-
fcates shall be executed and signed for town by its
chairman of supervisors for village by its pres1-
0eHJ CITY mayor, ahO Ior County ny LLls
chairman of it's board of supervisors, and shall be
eountersigned respectively by the town. village, city
or county clerk and returned to the said commas
sioners be deposited with the secretary Of state
who shall therenpon draw bis warrant upon the state
treasurer for the amount Of such loan and the same
less the interest thereon to the first day of the next
succeeding January shall be paid to the treasurer of
tae town, village, city county making such loan or
as he may direct, and said certificates of indebted
shall then be absolute and conclusive evidence
Of the existence and validity Of such indebtedness
a CT
application fcs - re~'-a->T and the acceptance OF
such loan, e.; I'd with
Section 5. All the taxabfe property In any town,
village, city, county which has heretofore obtain
ed shall hereafter Obtain any loan from the state
any of it's trust funds shall stand charged for the
payment of the principal and interest thereof, and
the boundaries of such town. village, city or county
shall not be changed or altered to exclude
therefrom any land included therein at the time OF
making such loan until such loan shall be fully paid
without the consent Of the commissioners of public
lands and upon such terms they shall prescribe;
and there shall be annually levied upon the taxable
property of such town, village, city or county, be-
sides all other taxes, tax sufficient to pay the annual
interest and the installnents of principal of such
loan as hereinafter provided, and the shall be
special charge to be paid next after the state tax out
OF all moneys collected taxes within said town. vii
lage, city county.
Section g. The secretary of state at thu time when
he furnishes statement OF the state tax to that OFF,
shall in every year. furnish to the county cerk