Eagle River review. [volume] (Eagle River, Wis.) 1890-1927, 1913-08-29

special assessment the payment Of the bonds IS
sued under the authority OF this section and the IN
terest thereon whenever such payments become que
ana there is money in the reclamation filnd Tor
their discharge
that special county orders signed By the chairman q
said board aud the county clerk be issued from time
TO time for the payment OF moneys whose payms ah
is authorized By the provisions Of this secton suen
sscia county orders shall be payable from any moneys
the county treasury not otherwise Appropriated nus
shall be refunded from the county reclamation linu
or such special county orders in the discretion
Of the county board and with the consent Of me
holder of the orders be exchanged for county bonds
iss,led under the authority Of this section
H. Any county board availng itself OF the au-
tbcritv eranted Nv this secJon may grant loans to
s Who have flied petitions in the manner pre-
scroed subsection Of this section for county ana
in obtaining funds to assist in the reclamation q
conditions imposed elsewhere in this section;
{a) No loan shall be granted upon any land o.
which tie market value, exclusive or the value OF
buildings and other pershable improvements Is less
than ten dollars per acre
(bi No loan shall be granted Of amount ex-
ceedng fifty per cent OF the market value OF the lana
offered as security including the value OF the build
ings the said land whep reclaimed under me pro-
visions of this section nor Of an amount exceeding
the sum fixed By the reclamation board as necessary
to reclaim the land actually to be reclaimed by aid
OF the and loan shall In any case exceed tle
sum Of thlrty-h dollars for each acre Of land
! az No loan Of less than hundred or more
than two thousand dollars shall be granted to any
one person and person shall be granted separate
loans ageregating more than two tnousano aoHars
be the rate of interest paid by the county TOR the
funds loaned plus such an additional per centum as
the county board shall deem necessary 70 cover the
expense incurred by the county In carrying OUT the
provisions Of th section
(e) All loap shall be made for term OF twenty
years but any borrower may repay his loan in whole
or In part at any time within said term and any
borrower may with the consent OF the county cslA
and the chairman Of the county board repay ms
loan upon an amortization plan within q term or
twenty years less. and In all cases in wien par
ttal payments have been made interest shan DC
charged only upon the unpaid balance OF the loan
| III All borrowers shall be required to execute
written agreements with the county to keep all build
ings fences and other Improvements upon the prop
erty offered security in good repair until the loan
is repaid and TO observe all conditions imposed bV
this section or under its authority.
16. The county board may when 1t deems the
security offered for loan insufficient for the amount
loan Of less amount than that called for IN the
petition for the loan it may refuse altogether 10
grant the lean as in its Judgment appears Oest cal
culated promote the public welfare ana IN all such
the judgment of the county board shal De
final.
H. The reclamation board may let contracts to re-
sponsble contractors for the reclamation OF the lane
to be reclaimed by aid Of the loans granted under
this section or said board may allow the persons
granted loans to (a) reclaim the land themselves
with or without hired help (b) hire It reclaimed
by another person under contract appGoyea " ore
tract under tla section it shall require the con-
| tractor to file with the county clerk bond IN a
penal equal to the price agreed upon 70 De pald
for the work of reclamation to be performed under
and signed by two sureties residents OF
!
amount Of the bond and approved 10y the board, or
signed by a surety company approved by the board.
SAID bond shall to the county and shall be con-
dtioned the faithful execution and observance or
| the terms and conditions of the contract.
49, Loans granted under this section shall be paid
in accordance with the following provisions:
(a) When the work of reclamation is performed
under contract with the reclamation board the com
tract price shall be paid directly to the contractor
from the amount Of the loan granted for the work
Of reclamation If the contract price is less tnan
the amount of the loan granted, the amount OF the
loan actually to be paid and be chargeable against
the land accepted as security for the loan pro-
yded in subsection 10 shall be reduced to the amount
of the contract price Payment may be made In ful1
upon presentation acceptance hereinafter pre-
scrsbed of proof of the completions Of the work or
payment may be made in installments from time TO
time during the progress Of the work but the aggre-
gate amount of such instalments shall never exceed
eighty per cent Of the amount Of the contract pl1ce
and the remaining twenty per cent of the contract
price shall not be paid until proof Of the compile
ton of the work is presented and accepted as hers
matter prescribed
/ (bl When the work of reclamation is performed
otherwise than under contract with the reclamation
1 board the amount Of the loan shall be paid to the
! person granted the lean. Payment may be made IN
fun upon presentation and acceptance hereinafter
provided of preof the completion of the work. or
| payment may be made in installments from time 70
time during the progress of the work upon presen-