Ladysmith news-budget. [volume] (Ladysmith, Rusk County, Wis.) 1907-1927, 1913-08-22


ton Of the common council of such city,
may be invested.
First. In outstanding bonds OF such
city for the payment of which the gen
eral city revenues are pledged and Tor
which the sinking fund is required, as
provided in section 925-132a, at any
price not exceeding the principal, accrued
interest and premium not to exceed
three years interest on such bonds; pro-
vided that no such bonds shall be pur-
chased except on bids to be received at
fixed time and place, notice of which shaA
have been given in the official newspaper
OF such city for not less than two weeks;
it there be no such paper, notice snail De
given in such manner as the council Shall
direct; and such bonds when purchased
shall Immediately have written on the
face thereof q statement, signed by the
clerk of such city, that the same have
been taken I'D and cannot again be nego-
tiated or made obligatory; and all Such
bonds shall be deemed paid and eXtln-
guished and shall be Immediately can
celed.
Second In interest," bearing bonds of the
United States or in loans upon bonds Sc
cured by first mortgage upon real estate
which shall be worth, aside from perish
able improvements at least three times
the amount of such loan; and every such
loan shall be payable at least one year
previous to the time when the outstand-
ing city bonds to the payment of which
it is to be applied shall become due All
interest accruing and collected upon any
such instrument shall belong and be added
to the capital of such sinking fund.
Third. In any bonds issued under the
authority of such city whether the same
is a general city liability or q liability OF
the property owners of such city for
special improvements made therein pro-
viGed further that the funds 50 with
drawn from such sinking funds shall be
used for the purpose for which such bonds
iSSna6 and other DllrpOSHS.
that the payment of such bonds
to the sinking fund shall be secured either
in the manner prescribed in section 920-
132a or by the levy of an annual tax
amounting to one-twentieth of such bond
issue upon the receipt of which and it's
payment into the sinking fund one
twentieth Of such bonds shall be cam
Celed; or provided that where the repay
ment of the same is secured by special
assessments due or to become due in reg
ular annual instalments from owners of
real estate in such city whose property
shall be liable for such special improve
ment assessment the amount thereof shall
be annually paid into such fund; and
provided further that all such bonds SO
surrendered to the sinking fund shall bear
interest to such fund at rate of not
less than four per cent per annum, that
all such interests shall be annually raised
and added to the principal of such fund,
and provided that no refundirg bonds
shall, under any circumstances, be issued
OIlSI JbIiCciy L, 15AU, ia any CITY sOi tlIiS
state, and further that any surplus in
such sinking fund at any time when all
the general bonded Indebtedness and Spe-
cha. Improvement bonded Indebtedness of
such city shall have been entirely paid
and Cancelled, may be applied to such
purposes as the common council may
direct.
Section 925-132c. If any officer upon
whom any duty is imposed by sections
925-132a and 925-132b shall fail faith
fully and promptly to discharge the same
as required by law, he and his sureties
upon his official bond shall be liable to
the city or to the parties aggrieved
thereby for all damages actually suffered
in consequence of such failure; and for
any impairment of the sinking fund pro-
ided herein he and his sureties shall be
liable at the suit Of any taxpayer to the
city in the full amount of such impair
ment.
Section 8. This act shall take effect
and be in force from and after its pas
sage and publication,
Approved June 26 1913. Copy Law.
No. POI 81 published June 80 1913.
CHAPTER sos, LAWS OF 1918
AN ACT-Relating to sewage disposal
works in cities of the first class.
The people of the State of Wisconsin,
represented in Senate and Assembly,
do enact as follows
Section l. Whenever the common
council of any city of the first class,
whether organized under special char
ter or under the general laws of the state,
shall by resolution passed by ma
jority vote of the members elect, declare
that it is necessary to provide sewage dis
p0sal works for such city, if there be no
existing sewage disposal works, or shall
in like manner declare that a material
enlargement. extension, improvement or
addition to the existing sewage disposal
works of such city is necessary, it shall
be the duty of the mayor of such city
within thirty days of the passage of such
resolution to appoint five citizens, resi-
dents of such city, who shall be known as
the Sewerage Commission Of the City
of ...........;" such appointment shall
be confirmed by aJority of the members
elect of the common council Of such city.
The appOintees shall continue in office
until the work of said commission in such
city under this act has been fully and
finally completed in every respect. No
person holding any office in any political
organization or any city, county or state
office other than that Of a notary public,
shall be eligible to be a member of such
board. All vacancies in the office of
commissioner shall be flied in the same
manner as hereinbefore provided for
original appointment.
Section 2. Each appointee, before en-
terng upon the duties Of his office, shall
take and subscribe the oath of office pre-
scribed by the constitution of the state
and file the same, duly certified by the Of
fetal admins tering such oath, with the
clerk of such city. He shall furnish a bond
to the city for the faithful discharge of
the duties of his office in a sum to be de-
termined upon by the common council of
such city and with such sureties as the
common council of such city may pre-
scribe; the bond SO taken shall be de-
posted with the comptroller of such city.
Each of said commissioners shall receive
his actual and necessary expenses incur
red while in the performance of his du-
ties. No commissioner or person holding
appointment under said commission shall
be interested directly or Indirectly in any
contract entered into under the pro-
visions of this act. The removal of any
commissioner from such city shall oper-
ate as a resignation of his office. Any
commissioner may be removed for mis-
feasance, malfeasanCe or nonfeasance in
the manner provided for in the removal of
city officers for any of such causes ac-
cording to the laws applicable to any
such city at the time this act shall be eff
fective therein. Political activity upon
the part of any commissioner in taking
an active part in supporting or promoting
the candidacy of any candidate for office
in such city or other active political work
shall constitute cause for removal, and
such removal shall be brought about by
resolution passed by two thirds vote
of all the members elect of the common
council of any such city. Any sewage
commissioner NAV he removed from Of