Ladysmith news-budget. [volume] (Ladysmith, Rusk County, Wis.) 1907-1927, 1909-07-15
No hS3. Al Published June 4. 1909.
CTI pTiER 021 LAWS OF 1909.

No. .St}, a. PuDllSneU June T. 1SOo
CHAPTER 281, LAWS Of' l909.
AN ACT to amend section II of chapter
459, laws of 1907, relating to school
boards and common and high schools in
cities of the first class.
The people of the State of Wisconsin rep
resented in Senate and Assembly. do en-
act as follows:
Section /. Section IT of chapter 40,
laws of 1907 is amended to read Section
III Whenever the board of school directors
shall deem 1t necessary to erect new bulld-
ings or additions to old buildings. or 70
purchase school sites, they shali
by two-thrds vote Of the members, SEM
a communication TO the common council OF
said city, at or before the hrst meeting OF
the council in November in each year st9t-
ing the amount of funds so needed and the
purposes for which it Is proposed TO use
the said funds, and requesting the said
common council to submit to the voters OF
to be held in said city the question OF is
suing the school bonds of said city In the
amount and for the purpose or purposes
named and upon receipt or $ra # sha
be and is hereby made the duty OF the sad
common council to cause the question Oh
the issuance of the said bonds Tor me salo
school purposes to be submitted to the Vot-
ers Of the said city at the next regular;
special or other election held IN the sald
city The question of the Issuance or the
said school bonds shall be submitted upon
n senarate ballot or in some other manner
so that the vote upon the issuance OF SAID
school bonds shall be taken separately from
any other question submitted to the voters
at the same election and. II majority OF
the votes cast upon such bond proposition
shall be In favor of the issuance OF SAID
bonds then the common council or sald
CITY shall cause such school bonds TO be
issued forthwith in the same manner as
other bonds which have been properly au-
thorized are issued and the proper officials
of the said city shall sell or dispose or
tbe said bonds in the same manner as other
bonds are disposed of and the entire pro-
ceeds of the same shall be placed in the
CITY treasury subject to the order or the
said hoard of school directors, for the pur-
noses named in the request Tor the ISSUANCE
ppf f9a said bonds Said school bonds shall
NOT heer a greater rate of interest than four
ner cont ner annun and shall be payable
In twenty wears from the date of their is
ere oue-twentieth of the principal TO be
navabe each year. and lEe SAID common
conncI is hereby authorized and 1t is made
ali property, real and personal, in the said
CITY subject to taxation. in the same man
ner and at the same time as other taxes
are levied and collected which shall be
sufficient TO pay the interest on all school
bonds outstanding. issued under the pro-
visions of this act. and to pay such part
of the principal of such school bonds SO
issued as becomes due and payable during
the pext fiscal year. The amount OF such
shall not he greater than one per cent or
the total assessed valuation OF all property,
real and personal in the sad city subject
TO taxation and the tax levied to pay the
interest on and the PRINCIPAL of the said
school bonds shall be in addition to the tax
levied for general purposes upon all the
taxable property Of said city.