The Topeka state journal., 1909-03-09

HOUSE BILL No. l0f.
AN ACT To enable cities of the first class
to refund their Indebtedness, and proVld-
ing penalties for the violation Thereon:
Be it enacted by the Legislature of the
State of Kansas: .,-s,-.--.
Section 1. That every city of the first
class be and the same is hereby authorlzed
and empowered to compromise ana reIuno
Gates of Indebtedness and all other out
standing Indebtedness, issued SQosequetll
to April 1st, 1907 and prior to June lst.;
1908, payable out of the general fund ana
the general Improvement fund OF sag
city, upon such terms as can De asfeeu stS
upon, and to issue bonds with senlan-
nual interest coupons attached in pay,
ment of any indebtedness SO COMPROMISED
and refunded, said funding bonds TO pc
issued for the redemption of the warrants
certificates of Indebtedness and other m
debtedneSs paya bic out of the general
fund and general improvement fund, IS
sued subsequent to April !, 1877, and prior
day of January, 1909; provided, that no
such city shall issue its bonds under the
provisions of this act in an amount 70
exceed one hundred and sixty thousand
dollars.
act shan be signed by the mayor anu anu
attested by the city clerk under the sea-
be signed by the autographed signature OF
the mayor; such bonds may be IN any
denomination from one hundred dollars 70
one thousand dollars, ana mace pay SDIe f;
at any time not exceeding twenty-five
years from their date. They shall not be
issued, sold or exchanged for other eNl-
dences of Indebtedness of such city at less
than par. shall not exceed in amount the
actual amount of outstanding indebted
ness of the city at the time that they are
issued, shall not bear greater rate OF IN
terest than AZ per cent. per annum, pay
able semiannually; that the mayor and
councilmen of said city may cause such
Indebtedness to be refunded by ordinance
specifying 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 said bonds
shall contain recital that it is issued un-
r1or- ha nf not xxvbf ri 20
cital shall be conclusive that the proper
ordinance authorizing such refunding has
precedent to the. issuing of said bonds
have been complied with, and that said
Indebtedness of the city issuing the same.
Sec. 8. That record shall be kept by
suing. bonds under this act of all bonds
so issued and when the same
saa fen eTdemoes of indebtedness aRd a WRIT
funded under this act shall have the words
across the same. and such cancelled obli-
gation shall be carefully preserved in the
mayor and council, a register of the num-
ber. amount and date of issuing of the
same having been first made by the city
clerk.
Sec. 4 That in every instance in which
any city shall issue bonds under this act
council thereof to annually levy, at the
time of making the levy of other taxes. a
est upon said bonds and the coupons as
they become due and five years after
said bonds have been issued and annually
thereafter until the maturity of said
bonds to levy a tax sufficient for their
ture.
Sec. 5. None of the restrictions and
tutes of the state of Kansas heretofore
enacted shall apply to or in any way af-
by this act the bonds so issued.
Sec. 6. That any officer who shall is
sue or aid in or consent to issuing any
cept to refund the floating Indebtedness
of the city issued or accrued, subsequent
1908. and outstanding in January 1st, 1909,
or shall misappropriate or use, aid or
the funds raised by taxation for the pur-
pose of paying the principal or interest
be deemed guilty OF misdemeanor, and
on conviction thereof shall be fined in
sum equal to the amount of money so
misappropriated or used and imprisoned
in the county Jail for not less than three
shall also be liable in civil action for the
amount SO misappropriated or used, to be
prosecuted by any holder of any bond is
sued under this act or by the city.
Sec. z. This act shall take effect and
be in force from and after it's passage
I hereby certify that the above bill orig
mated in the House, and passed that body
]. N. DOLLEY,
Speaker of the House.
Chief Clerk of the House.
Passed the Senate March 1st, 1909
w J. FITZGERALID,
President of the Senate.
q. E. WYANT,
Secretary of the Senate.
p'Os'N '- W. R. sTUBBs.
Governor.
STATE OF KANSAS.
Office of the Secretary of State.
!, c. E. DENTON, Secretary of State of
the State of Kansas, do hereby certify
that the above and foregoing is a correct
copy of the original enrolled bill now on
file in my office.
IN TESTIMONY WHEREOF, I have
hereunto subscribed my name and affixed
my official seal, this 9Th day of March,
1909
(SeaD- c. z. DENTON,
Secretary of State.
published in The Topeka State Journal
March g. 1909