The St. Joseph observer. [volume] (St. Joseph, Mo.) 1906-1932, 1920-10-16

principal OF said public utilities bonds
shall not constitute an obligation OF the
city enforclble out OF the funds raised by
taxation. Such city may also issue Its
bonds. other than public utilities bonds,
for the payment. in whole or In part. for
such public utilities. and such bonds, other
than public utilities bonds. shall consu-
tute a direct obligation OF the CITY, but
the total amount Of such bonds. other
than public utilities bonds shall not ex-
coed In the aggregate ten per centum Of
thes taxable property therein. as herein
before provided but such bonds, other
than public utilities bonds. s1Rll require
the assont Of two-thrds Of all the legal
Vntes oast on that proposition. The ordi-
naucrN authorizing the purchase, Condeu-
nation or construction Of such public
service plant or system shall provide what
portion, II auv. OF the cost thereof shall
be paid by issue OF public utilities bonls.
and what portion, II any, shall be paid
by issue of general bonds of the city.
other than public utilities bonds. The
principal and the interest Of such pub
lie utilities bonds shall he paid out OF
the earnings Dr sale II the utilities plant
or system for the ACQUISITION Of which
SUN issue was made, but the city may
thereafter provide, by ordinance, for the
payment in any year Of any part OF the
interest or principal Of said bonds due In
tH7t year, out Of the general revenue Of
that year raised by general taNation. Such
.ttv shall have power to execute It's
mortgage or mortgages on any such util-
ity or any addition thereto. or extension
thereof, To secure the payment Of such
Nufilt Otl.ll4'~ huhu<, ana IN case OF th-
NUT IN the payment ~ such public ulll-
!tias bonds. and the interest thereon or
interest thereon. said NogdNOlGe3S. or
their representatives, may. apply TO any
court OF competent ju.t~ lection. stttiug
In the county or city in Whi,n such @ ~
is located. and said Cou.t may, in its
discretion IT, said default continue, an
point a receiver to take charge " such
property, ana such receiver shall oper-
ate said property pcrdiUT such rrocccd-
ing n such court, and until final decree
e s..1 tn n 9vtT
for pc ind OF one year thereafter, dur-
Ing whC period the city may. upon
payment to tine bondhclt',s Of AL in
deNtoGness past due. ana court costs. and
receivers obligations retake said prop
cr y, subject to its unmarried oh'i-a-
tions. II said property Is not thus re-
token by the city I'm said period OF re-
dcnption said receiver shall deliver said
property 20 such rarty. as the court in
such acton may order. and thereupOn al
liability OF the city on s1'' bones shall
cease and determine ant its RIGHTS as
owner Of aid utility or plant shall cease
and determine. and thereafter said utility
D> plant shall be operated by the party
named in said order of court, or his sue
ccssors or assigns, in conformity with
and subject to the provisions z the ordi-
nance authorizing the acquisition or pur-
chase or construction Of said public util-
tty or plant ard the issuance Of bonds
therefor; but such "ity shall not issue
any such public utili is bonds without
the assent ~ fuur-sevenths Of the voters
thereof. voting on that proposition, at an
election to he held for that purpose and
such proposition may be submitted a
special election or at a general election.
in either Of which events II four seventlts
Of all NJ the legal votes cast on such
proposition are in favor of the issue Of
said bonds. the city shall have authority
to issue the same. Such utility may be
acquired by condemnation proceedings in
the same manner that such city may
acquire real estate for public purposes.
or in such other manner as may be pro-
vidcd by law. Such city may be 2
vote Of the people IN the manner herein
provided take up any public utilities
houds issue its general bonds In lieu there
Of and may take up any general bonds
issued on account OF my public utility
and Issue public utilities bonds In lieu
hereof. whenever there exists such debt
making power Of the city rs will author
iZe the issue Of such rev bonds. but no
substitution shall he made without the
consent Of the holders of such bonds.