The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1895-02-27

tAlstestation and title Of attesting ofIicer. }
tSeaj. IL any,
Provided. however. That II any such
note or notes shall not be paid at matn-
rity. the same may be renewed for such
further period or periods as shall be nee
essary: Provided further, That In no
case when the total amount Of taxes paid
in On any levy. together with all out
Stan1ing loans. or warrants issued against
said levy. shall Be equal to seventy-fivc
per eentlm OF said levy. shall II be law
ful TO make any additional loan or ioans
but in SUCH case warrants may be issued
as hereinafter provided. In no case how
ever. shall any warrant be Issued against
such levy when the total amount OF taxes
paid IN. together with all outstanding
loans and warrants made or ISSUED
against said levy, shall be equal 10 ninety
per centum thereof: And provided also.
That II shall not he lawful to make any
temporary boan or loans, nor to issue any
warrants against said levy during any
one month when the total amount OF out.
standing loans ana warrants made and
issued against said levy during said
month Exclusive of warrants issued for
interest payments and cutssa pding loans
maturing during said moptf) shall be
equal 10 one-eighth OF tho total amount
Of such levy.
Sec. ). Whenever any such county, city.
town or school district shall have reached
its limit OF indebtedness al specified In
the preceding section. and shall desire Il,
issue warrants. such warrants shall be in
manner and form as now required by
law, except that each shall contain a
clause declaring that the same Ia not a
debt or such county, city. town or school
district, and distinctly Emitting the pay
nseDt thereof, and the payment OF inter-
est accruing thereon, to the revenues TO
h.. ~ rrx
made. and against wshkch the same Is
esra wn: and In case any such warrant shall
be presented for payment and there
shall be no funds on hand with which to
ray the same. tt shall be endorsed '.Pre-
sented for payment and not paid for want
of funds. together with the date of pre-
seusation. and shall thereafter draw In
tereaf at the legal rate. but such in<iorSe-
merit shall in no case operate To make
such warrant u debt OF said county. city,
town OF school district. or In any manner
extend the payment thereof to any reve-
nue. or revenues than THAI or those againss
which the same was originally drawn
Sec, s. That when any warrants shall
have been issued, as now provided by
law. or ~ provided in this act. and shalt
be outstanding and not called for raw
n,eFt, arsd tina beard council or other
managing body or any county. city. TOWN
or s-tooi district shall deem NJ necessary
or advisable 10 cancel or exchange the
same. ard there shall be no funds Of,
hand with which to effect such s-sancella-
ton. then. n such case. said board. conn-
Gil or osFer managing body shall, by
q majority vote. duly authorize the treas-
urer 10 make - temporary loan or losns
tn thu manner hcreinbesore provides.
with WHOA ~ take up and capcel such
warrants. or may cause TO be fssssed In
the manner heresnbefore provided. note
or notes In exchange therefor; but In ai,
cases before any sgsch note or notes shall
be issued. said treasurer shall publish a
notice calling for the warrants ii Is pro-
posed - cancel or exchange, salss ssst.ee
to be 10 published once week for tNo
consecutive weeks In sonse rsws,saxser -
general circulation in the county: ana In,
terest on such warrants shah cease Ter
days after tho date az the last r,s,hlsssa ta,n
OF such notice or said warrants are net
sooner presented. and when warv7s ~ :
agcregatin~ an amount not less thar, xsso
shall NJ 80 presented Fsase or notes rsysy
hs issued In exchange thereof o~ w-gf4,
which TO obtain funds 20 cancel rss~ sarna
ScS- That in all cagsss WHERE amy ts~,>
sorAry fosn or ioaas sAali fxaya haan
made. ard any note or notes seaan hsva
beer fssaei rs proyiiesi IN thss a.. :,
shall be tho duty OF the sreasurx-r -
such county. city. town, or school dis.
trtct. 20 So aside and reserve au, ~ Al,
revenues. wasea collected an arnxs1n. s.r
fteseEat TO meet the payment 81 such ,,,..
or notes at maturity. ard SAL ye.e~v,.sss
- ses ASIDE srst reserved shall not se
diverted ~ any ether ralrysass $40 torxw as
ssssss hssn nr hams sexall remain oufxsa f.g.
sng ard unpaid Provided, That waaaga q nv
temporary hnan or ioans shall hsya hxssss
made. as pfoyktesE in SECTION a NJ sh4s
axsf. ARD any uote or rctes shall Aa~s
sss~en ssvssesa as therein provided or ws.a..
any warrants shall nave hees, ss.e,.~3 !. !
xsg,ovissssst ip s~x-tisa ) OF sNts 1gt zA~n a.,
Sa st8cfs exss s4lcA treasurer xetssl =,
aside. ard ssssFxe VIXEN Sxslses-sef g.
the psStxssFss 81 such rsss~ or r.,sns !.
~AFrsstS. g1sly SsscA revenues "a ssssss -
derived frs,sn tire leys+ Against wrhk..4 ss,ta
uss<a ar ssetes or warrant So ssrxwn 49,
ssscA reve1ass sAsii rot s~ sssx.~r,,.4 -
any OTTER purpose - loszsy as xaxsA 49,
or nsssss or w@r~snss, seaats y,er., ],
outstanding ara usasaiA PROVIDED Yvna.
when any sss~s treasurer nxy have Go
CO hana afgsaacaase 60 the ysay.fs~rss s,< svx
warrants. Pc snail publish a call fs.~ s~s..
warrants tE the umxHre~ Ysrx~@srss~a.s =,
seesten 90 sAts sss. ami snail rs<aesr,,
the Sssysss sa sse wider az thar ksssa,u-s
FFox*ssd. aaweseF. that nse xszssa 49,
rAssss shall be s>ald wasse any ssssA az
ssstes asskIe~t against sSss levy srx,xr &C.
sssss<Nsssns sf session % tbs a.. "a.
issasEss SssxssfaafiaS aaf annala ,snt,SS
We're shall be ssFsas On tsassa wssss assass
e. Fay ssscA nosc er sstes 81 szsss4x~ssx
Ssws s--sAh ssotsss i@seTsss ssrsssAr ~. rn,s.