The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1903-06-24
KANSAS LEGISLATURE
Is IN SESSION.
CONTINUED from Page -

Section >. That the bonds. issued I'M
der this act shall designed by the mayor
and attested by the city clerk under the
seal of the city and the j interest
coupons shall be signed by the mayor;
Such bonds may be in any denomination
from 500 to 81 600 and made payable a
any time not exceeding % YEATS. al sAch
place as may be designated upon the
lace thereof. They shall not be issu Cd.
sold or exchanged for other evidence Of
lnde btednesS OF such city, at less oman
par, shall not exceed in amount the
actual amount of outstanding hOating
Indebtedness of the city at the tfnle
that they are issued shall not bear a
greater rate of interest than per cent
per annum, payable semi-annually,
that the mayor and councilmen of said
city may cause such floating indebted.
ness TO be refunded by resolution or
ordinance specifying the particular in
debtedness to be refunded. the amount
or bonds TO be issued. the time when
said bonds shall be PAYABLE and the
rate of interest that the same shall bear
ana each of said bonds shall contain Il
recital that it is issued under the pro-
VISIONS of this act which recital shall
tloE or ordinance authorizing such re,
FUNDING has been passed and that all
other conditions precedent to the is
SUING Of said bonds have been complied
with and that said bonds have been is
sued to refund valid floating indebted
ness OF the city issuing the same.
section 3 That a record shall be
kept by the city clerks of the different
cities issuing bonds under this act of
all bonds so issued showing the date
number Il amount thereof, to whom
and on what account issued and when
the same become due, and all written
evidences Of indebtedness refunded un-
der this act shall have the words paid
in fulI marked in a plain manner across
the same, and such cancelled obliga-
tons shall be carefully preserved in the
the mayor and council a register Of the
number, amount and date of issuing of
the same having first been made by the
city clerk.
Section 4. That in every instance in
which any city shall issue bonds under
this act it shall be the imperative duty
of the mayor and council thereof to an
nHally levy at the time of making the
levy of other taxes a 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 thereaf-
ter until the maturity of said bonds. to
levy a tax sufficient for their final re-
demption the same shall mature
''Sec. ;. That any officer who shall
issue 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
VEN Der L. 1903. or shall nisappropriate
or use or aid or abet in misappropriat-
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 a misdemeanOr. and on con-
viction thereof shall be fined in a sum
equal to the amount Of money 50 mis-
appropriated or used. and imprisoned III
the county jail for not less than three
months nor more than twelve months,
and shall also be liable in civil action
for the amount so misappropriated or
used to be prosecuted by any holder of
any bond issued under this act, or by
the city.
sec. 6. This act shall take effect and
be in force from and after its passage
and publication in the official state
paper"