The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1903-07-15
WILL ISSUE BONDS
County Commissioner Will Re-
pleniSh General Fund.
INDEBTEDNESS Is $4,000
Legislature Gives Authority to
Issue Without Election.

In order to replenish the general fund
of the county, which has been overdrawn
to the amount of $4,000. the county com
missionersl have resolved to issue bonds
for that amount 1t will not be neces-
sary TO held an election in this case, as
the commissioners We're given authority
at the last session of the legislature TO
issue the said bonds for this county.
The bonds will be for the purpose of
paying off the Indebtedness which has
accrued from overdrawing the general
fund of the county or the outstanding
general indebtedness of the county at
T the October, 1902 settlement. Since 1885
this fund has been overdrawn and has
never been paid in full. The amounts
needed have been taken from other funds
which We're in better shape. In the year
1895 tn general fund had a balance of
s5,Ss7.s7. but in the next year there was
a deficit Of sl4.Z7637. In 1887 the deficit
was S29,9S3.16; in 49, $40. 1864, and in 80,
was So 602.73. In the year 1909 il had
receded TO $44,340.H, but in the next year
again rose TO $50, 25sS7 Last year it was
reduced TO $4,000, which is lower than
the debt has been since 81 This was
the Indebtedness at the October settle
nent last year. While the settlement
has not yet been made for this year, the
commissioners are OF the opinion that
the whole amount will be no more than
last year.
Following are the proceedings of the
board in the matter and the act of the
legislature giving them the authority 10
issue the bonds:
In the matter of the issuing of fund
ing bonds of the said Sedgwick county.
Kansas in the sum of $4,000
Whereas, the outstanding general in
debtedness Of the county at the October.
1902. settlement with the county treas
urer, the same being the amount said
general fund is overdrawn, which is a
legal and binding obligation OF the said
county TO said amount of $4,000, and
Whereas. by an action of the legisla-
ture entitled An act authorizing the
board of county commissioners of Sedg-
wick county. Kansas, to fund it's out
standing Indebtedness accrued and ac-
cruing and still unpaid Approved Feb
ruary IS. 1893 being chapter Sc of the
session laws Of 1893
The board of county commissioners
are authorized TO issue bonds TO an
amount equal to the amount of such in
debtedness to fund the same.
Therefore, be it Resolved by the board
of county commissioners Of Sedgwick
county, state of Kansas:
Section l. That there be issued bonds
of said amount in the sum of $4,000 as
hereinafter provided. for the purpose of
procuring means of funding said out
standing indebtedness by the payment
thereof.
Sec. ?. Said bonds shall be of denom-
ination of one thousand dollars each,
numbered consecutively from one to forty
inclusive, dated July l, 1903. and shall be-
come due and payable fifteen years from
date thereof at the fiscal agency of the
state of Kansas in the city of New York
Sec. g. Said bonds shall bear interest
at the rate of four per cent per annum
from date, payable semi-annually on the
list days Of January and July OF each
wear. and the several installments OF
interes- shall be evidenced by coupons
attached to said bonds and numbered
consecutively for the amount OF each
serni-aanual installment of interest. ana
both the principal and interest shall be
navabe as they become due, at the hscal
agency of the state Of Kansas in the
city Of New York
..Ser 4 Said bonds shall be signed by
the chairman of this board, the county
clerk and countersigned by the treasurer
of this county. and have the seal of SAID
county affixed thereto. and said interest
eourons shall be signed by the chairman
of tho board and county clerk. whose sig
nature on coupons may be autographed.
sec. ;. The said chairman clerk and
treasurer are hereby authorized ana d.
reeted as soon as practicable TO execute
sa,d bonds and coupons and the proceeds
81 .ba same when they shall have been
solid shall be used for the purpose oil
,,a,,i,e- m, above described Indebtedness
snd for no other purpose
,1rMo-c IccHEn