Thomas County cat. [volume] (Colby, Kan.) 1885-1891, 1889-02-14

prescribed, they shall call the election
as herein provided: and when such
petition is presented to the mayor and
council of any city of the second or
third class, they may call or order an
election as hereinbefore provided: and
the elections herein provided for shall
be held according to the laws govern
| ing special elections. The ballots OF
those favoring the subscription OF
stock and the issuing of bonds shall
have written or printed thereon the
words: ''For the bonds" and those
opposed the words" Against the bonds"
and if, in such election, a majority OF
the ballots is against the bonds, no
subscriptions of stock shall be made,
and no bonds shall be issued. Notice
of such election shall be given. if in a
township, at least twenty days prior
to the day fixed for such election, by
posting up in conspicuous places in
such township, and on the doors of
school houses in such township, print
ed notices setting forth fully the pur-
pose and object of such election, and
the day on which fine same is to be
held: and cities OF the second or third
class may publish notice of said cleo
ton in newspaper printed and pub
lished in said city, and said notice
shall set forth the purpose and object
of such election.
Sec. 2. The bonds herein provided
for shall be issued in sums of one
hundred dollars each, payable in not
less than ten nor more than twenty
years from date thereof, or may be
made payable in equal annual install
ments, said bonds to bear interest at
the rate of not to exceed per cent.
per annum, with interest coupons at
tached, payable semi-annually, on the
first days of January and July of each
year, and signed-if township bonds
by the trustee and clerk, and if by a
city, by the mayor, and attested by
the clerk thereof, under the corporate
seal of such city. The coupons, if of
bonds issued by township, shall be
signed by the trustee and clerk there
of, and if of city bonds by the mayor
and clerk. A record book shall be
provided and a complete and detailed
account of all proceedings relating to
said bonds shall be kept, and when any
bond is paid or Cancelled, the same
shall be noted on such record, and
then such bonds shall he burned up.
Sec. +. That to make those who
receive the most direct benefit from
the establishment of any mill for the
manufacture of sorghum sugar, it
shall be the duty of any company or
association receiving the benefit of
any bonds issued under the provisions
of this act to retain ten cents from
the purchase price of every ton of sor-
ghum cane purchased for use in said
mill, and to pay the same over to the
treasurer of the proper township or
city, and take duplicate receipts there
for, one of which receipts shall be de-
livered to the clerk of the township or
city, as the case may be, and such
clerk shall shall file and preserve such
receipts in his office, and charge the
amount to the treasurer receiving such
money: provided, that the company
or association collecting the said ten
cents per ton as herein provided for,
may, whenever the sum so retained or
collected amounts to the sum of one
hundred dollars, deliver to such treas
urer bond of one hundred dollars,
with all undue coupons attached, or
interest coupons in any amount that
may be due, in lieu of the said money
so retained, if it so elects to do; and
in all cases, if the money is paid over
to the treasurer, as herein provided,
the same may be used to pay off any
bond that may be due, or purchase
any bonds at par that may be out
standing, buying always the bond hav-
ing the smaller numLer; and when
any township or city has the sum of
one hundred dollars or more in its
treasury, available to pay off any bonds
Will saCClucu lutCICSC, IL MAY w 81, |
on giving notice to the holder thereof,
or to the person presenting the coup
on of any such bond for payment, and
interest shall cease on such bond from
the date of such notice.
Sec. ). Any township or city of
the second or third class may, if the
electors so decide, donate the stock
secured from any company, as herein
provided for, to said company, by
making the ballots read "For the
bonds and donation" and if the ma
jority of the ballots cast have the
words For the bonds and donation"
on them, then the said stock may be
donated to said company: provided,
if the stock is not donated to the CON-
pany to which the subscription was
made, that the same may be sold at
par, and the proceeds used to liqui-
date the bonds. if any are Outstand-