The Topeka state journal., 1903-06-25
new CITY LAWS.
The CubbisOn Measures Which
Were Rushed Through.

In the senate chamber Wednesday
night Senator Cubbison-s two bills re-
lating to cities of the first class were
passed on third reading. Both bills are
of Importance to Topeka and to Kansas
City. One provides how cities may re-
fund their outstanding indebtedness by
the issue of bonds up to $3.50. 1000. The
bill in full is:
Section /. That every city of the first
class be and the same hereby is au-
thovized and empowered to compromise
and refund all its outstanding warrants.
orders, judgments and other mature1
and floating indebtedness of every kind
ard description whatsoever. upon such
terms as can be agreed upon, and to
issue bonds with semi-annual interest
coupons attached in payment of any
Indebtedness so compromised and re-
funded; provided. that this act shall not
apply to any Indebtedness that may
accrue or be contracted after the first
day of November. 1903. Provided, how
ever, that no city shall issue its bonds
under this act in an amount to ex~
ceed $3.50. 900.
Sec. z. That the bonds issued under
this act shall be signed by the mayor
and attested by the city clerk under
the seal of the city, and the interest
coupons shall be signed by the mayor
such bonds may be in any denOmina~
ton from 800 to 81, 900 and made pay
able at any time not exceeding twenty
flVe years, at such place as may be
designated upon the face thereof. They
shall not be issued, sold or exchanged
for other evidence of indebtedness of
such city a less than par, shall not
exceed in amount the actual amount Of
outstanding floating indebtedness of the
city at the time that they are issued
shall rot bear a greater rate of interest
than per cent. per annum. payable
semi annually; that the mayor and
councilmen of said city may cause
] a
funded by resolution or Ordinancespecf~
flying the particular Indebtedness to be
refunded. the amount of bonds to be
issued, the time when said bonds shall
be payable and the rate of interest that
the same shall bear, and each of sad
bonds shall contain q recital that it is
issued under the provisions of this act
which recital shall be conclusive that
the proper resolution or ordinance au~
thOrlzlng such refundlng has been
passed and that all other conditions
precedent to the issuing of said bonds
/ have been complied with, and that SAID
! bonds have been issued to refund valid
floating indebtedness of the city is
suing the same.
Sec. 3 That record shall be kept by
! the city clerks Of the different cities
issuing bonds under this act of all
bonds 50 issued showing the date num-
Der and amount thereof. TO whom and
on what account issued and when the
same become due, and all written evil
4 dences of Indebtedness refunded under
this act shall have the words paid in
fur marked in plain manner across
the same and such cancelled obligations
shall be carefully preserved in the Of
fee Of the city clerk or destroyed by
4 the mayor and council, register of the
number, amount and date of issuing of
4 the same having first been made by the
( city clerk.
Sec 4. That in every instance in
which any city shall issue bonds under
/ this act it shall be the impera tive duty
of the mayor and council thereof to an
nually levy al the time of making the
levy Of other taxes q tax sufficient in
amount to pay the interest upon said
! bonds and the coupons as they become
due; and one year before such bonds
shall become due, and annually there
after until the maturity of said bonds
to levy a tax sufficient for their final
redemption as the same shall mature.
Sec 5. That any officer who shall is
sue or aid in or consent to issuing any
/ bonds under this act for any purpose
except to refund the floating indebted
ness of the city accrued prior to No
vember l, 1903. or shall misappropriate
or use or aid or abet in misappropIiaI-
ing or using any of the funds raised
by taxation for the purpose of paying
the principal or interest of such bonds
for any other purpose shall be deemed
guilty of misdemeanOr, and on con-
4 Viction thereof shall be fined in a sun
equal to the amount of money so misap-
prOpriated or used and imprisoned ii
the county jail for not less than three
morths nor more than twelve months
and shall also be liable in civil actor
for the amount so misappropriate OF
used to be prosecuted by any holder OF
any bond issued under this act or by
| the city.
Sec. s. This act shall take effect anc
be in force from and after its passage
and publication in the official state pa
per