Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1914-10-08

OF Missouri shall be amended by insert
Ing after the following words: "PTOUided,
further, that In the city Of Kansas City.
the amount Of bonds issued by said city.
bearing date July III, Z, 1895. for acquir-
ing waterworks and all bonds hereafter
issued in renewal of said bonds, or any
portion thereof. shall not be included in
the computation of the existing bonded
indebtedness Of said city in determining
the amount OF bonds authorized to be
issued by said city, with the assent of
two-thirds of the voters under the pro-
visions Of this article, but said city shall
be authorized at any time to issue bonds
with the assent aforesaid. to an amount,
including outstanding Indebtedness, other
than that above named, to the amount
of five per centum Of the value Of the
taxable property in said city, to be as
eertained as above specified the follow
lowing words: Provided, further, that
Kansas City may acquire by purchase,
condemnation or construction, water
works, gas works, electric light works,
street railways, telegraph and telephone
systems, heating plants or any other
plant or public service institution within
or outside Of the limits of said city, for
use Of the citizens in said city, and for
the purpose Of paying therefor, in whole
or In part, may issue public utilities
bonds, which public utilities bonds shall
not be included in the liabilities or in
debtedness Of the city limited by the
prior provisions of this section; but the
total amount OF such public utilities bonds
to be issued by Kansas City shall not
exceed twenty per centum of the value
OF the taxable property in said city to
be ascertained as above specified: the
principal OF said public utilities bonds
shall not constitute an obligation Of the
RifU nnfnrnihla ont nf fhn f,tpao af-nl
by taxation, but the principal of each
issue of such bonds shall be payable out
of the earnings or sale Of the utility or
plant for the acquisition or purchase of
which such issue was made. The interest
on such bonds and a sinking fund for
the payment of the principal at ma
turity shall be paid out of the earnings
or sale of the utility, or out Of funds
raised by taxation, or both, as shall be
provided in the ordinance authorizing the
issuance Of such bonds. Such city shall
have power to execute its mortgage or
mortgages on any such utility, or any
addition thereto, or extension thereof, to
secure the payment of such public utili-
ties bonds, N in case Of default in the
payment of such public utilities bonds,
or interest thereon, said bond holders,
or their representatives, may apply to
n court of competent jurisdiction sitting
in Jackson county, Missouri, and said
court may, If said default continue, APP
point a receiver to take charge of such
property and such receiver shall operate
said property pending such proceeding in
such court and until a final decree of
foreclosure in such proceeding and for
a period OF one year thereafter, during
which period the city may, upon pay
ment to the bond holders of all indebted
ness past due and court costs accrued
to the date of payment, retake said prop
erty. If said property is not thus re-
taken by the city within said period of
redemption, said receiver shall deliver
said property to such party as the court
in such action may order, and t%hereupon
all liability of the city on said bonds
shall cease and determine and it's rights.
as owner, Of said utility or%plant, shall
cease and determine; and thereafter said
utility or plant shall be operated by the
party named in said order OF the court,
or MS successors or assigns, in con-
formity with and subject to the pro-
visions of the ordinance authorizing the
acquisition or purchase or construction of
said public utility or plant and the issu-
ance OF bonds therefor; but Kansas City
shall not issue any such bonds without
the assent Of two-thirds of the voters
thereof voting IN that proposition at an
election to be held for that purpose; and
such proposition may be submitted at a
special election or at a general election,
in either of which events If two-thirds
of all the legal votes cast on such prop
ositioh ire in favor of the issue of said
bonds, the city shall have authority to
issue the same; and Kansas City may |
also issue its bonds other thar public
utilities bonds, for the payment, in whole
or in part, for such public utilities, and
such bonds nfhpr than nIh1in pfiIit1r hnr5, |
shall constitute a direct obligation of the
city, but the total amount Of such. bonds
other than public utility bonds h not
exceed in the aggregate five per centum
on the taxable property therein, as here
inbefore provided. Such utility may be
acquired by condemnation proceedings in
the same manner that Kansas City may
acquire real estate for public purposes, |
or In such other manner as may be pro-
vided by law. But whenever any public
utility is being operated by any person,
firm or corporation under a grant or per-
nit from Kansas City, and the owner
and operator of such utility is complying
with the provisions of the grant under
which the same is being operated, and
with the laws n ordinances to which
utility and its owner are subject,
and with all reasonable. orders of any
public officer, committee, commission or
other authority having the power to make
oruers the city shal not nave power
~ aoquile sueh ulitty except as provided
~ SUCH grant VI py agreement with the
Owner thereoI. but tne 1udgment OF any
oouit On colnpe.eht Jurlsuictlon that such
owler or OPERATOR OF sucn utility Is not
oonpiyins WIFI suen oohgations, duties
vi 1ueis sl H..u au.horize tne acquisition
w NAhSas SNy oi such utiilty.
NsrIrr1r,oNr
NEWT ~
Joint and concurrent resolution sub-
.ns - .ne !nalined voters OF the
y. t y tne
alton.
n. a .a.o,,,ad ~, M
., p.assssas,tt,,s "oao,' .mle' sne mouse