The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1908-02-05

AN ACT to enable cities of the first
class having a population of more than
sixty-five thousand to refund their indebt-
edness and providing penalties for the
Be it enacted by the Legislature OF the
State of Kansas
Section i. That every city OF the t flrse
sixty-five thousand, be and the same Is
hereby authorized and empowered to COM
promise and refund all of its outstanding
outstanding indebtedness payable out of
the general fund and the general improve
ment fund Of said city upon such terms
as can be agreed upon, and to issue bonds
with semiannual interest coupons attach
ed in payment of any Indebtedness 50
compromised and refunded, SAID refundlng
bonds to be issued for the redemption of
the bonds, warrants. Judgments and other
indebtedness payable. out of the general
standing on the first day of January, 1903;
provided, that no such city shall issue its
bonds under the provisions Of this act u
an amount to exceed one hundred and fif-
ty thousand dollars. 1
Sec. g. That the bonds issued under this
act shall be signed by the mayor and at +
tested by the city clerk under the seal OF
the city, and the interest coupons shall be
signed by the Autographed signature OF
nomination nor from, one hundred dollars to
one thousand dollars, and made payable
at any time not exceeding twenty-five
issued. sold or exchanged for. other evil
dences of Indebtedness Of such city at less
actual amount of outstanding bonds and
floating indebtedness of the city at the
time that they are issued, shall not bear
a greater rate Of interest than rive per
cent per annurn, payable sen1iannually
that the mayor and councilmen OF SAID
city may cause such bonds and floating
indebtedness to be refunded by ordinance
specifying the particular Indebtedness to
be refunded, the amount of bonds to pc
issued: the time when said bonds snan pc
same shall bear. and each of said bonds
shall contain a recital that it is issued UNI
der the provisions of this act. which re
cital shall be conclusive that the proper
ordinance authorizing such refunding has
been passed and that all other conditions
have been Complied with. and that said
bonds have been issued to refund valid
bonds and floating Indebtedness of the
I Sec s. That a record shall be kept by
the city, clerk of the different cities issu-
ing bonds under this act of all bonds SO
issued and when the same shall become
due, and all written evidences of indebt-
edness refunded under this act shall have
manner across the same, and such can
celed obligation shall be carefully pre-
served in the office of the city clerk OF
destroyed by the mayor and council, a
register of the number, amount and date
of issuing of the same having been first
made by the city clerk.
Sec. T. 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 annually
levy. at the time of making the levy OF
other taxes. a tax sufficient in amount t6
pay the interest upon said bonds and the
coupons as they become due. and, five
years after said bonds have been Issued
and annually thereafter until the maturi
ty of said bonds, to levy a tax sufficient
for their final redemption, as the same
Sec. 5. None of the restrictions and linn
itatfons contained In any OF the statutes