Interest. County Commissioners, Toll bridges of ten per cent., for the full amount of the proposed loan, payable to A. B. or bearer, in ten years, with coupons attached, which matured coupons shall be receivable in payment for all county taxes. SEC. 5. That the County Commissioners of any county which has issued her bonds, as above, shall cause an assessment to be made annually on all the taxable property in the county, sufficient to pay the interest on said bonds, and, at the expiration of five years, shall also cause an annual assessment for a sinking fund, sufficient to redeem in five years the amount of bonds issued. SEC. 6. That the County Commissioners of any county which has issued bonds as aforesaid shall advertise for four consecutive weeks, for proposals to construct such bridges as have been specified in the vote, and contract with the lowest responsible bidders, requiring good security for the performance of their contract; payment to be made in said county bonds, at not less than par. SEC. 7. Said bridges to be free to the public, and kept in repair by the road overseers within whose respective districts they are constructed. SEC. 8. That where toll bridges now exist, and the County Commissioners shall deem them good and substantial structures, they shall be authorized to purchase them with said county bonds, if they can do so for a less sum than they can contract for the building of new bridges, and said bridges shall be kept in repair the same as if built by the county. SEC. 9. This act to be in force from and after its publication. THOMAS CARNEY, Governor, CHAPTER XV. COUNTIES TO TAKE STOCK IN RAILROAD COMPANIES, AND TO ISSUE AN ACT to authorize certain counties to subscribe to and take stock in certain Railroad Companies, and issue bonds therefor. Be it enacted by the Legislature of the State of Kansas: Certain counties authorized to subscribe in railroad. SECTION 1. The counties of Atchison, Jefferson, Shawnee, and all other counties through or near which the proposed line or lines of the Atchison, Topeka and Santa Fe railroad and its branches shall pass, are each hereby empowered and authorized to subscribe and take stock in the Atchison, Topeka and Santa Fe railroad company, and to issue bonds for the same, not to exceed the amount of 200,000 dollars: Provided, how- Proviso. ever, That such stock shall not be so subscribed and taken by the said counties, or any of them, until the question shall be submitted to the voters of the said counties, respectively, and a majority vote obtained in favor thereof, at some general election: And provided, further, that the said Atchison, Topeka and Santa Fe railroad company shall report the issue of the bonds of said counties respectively, as herein provided for, to said company, issue to said counties an amount of full paid stock of said company, equal to the amount of the bonds of each county respectively. SEC. 2. Whenever any of the said counties shall determine to subscribe to the capital stock of the said railroad company, in the manner provided for in this act, and the amount of said subscription, it shall be the duty of the county commissioners of such counties respectively, to issue the bonds of the said Bonds. counties to the amount of such authorized subscription, with coupons attached, which said bonds shall be made payable twenty years from date, and bearing interest at the rate of seven per cent, per annum, said interest payable semi-annually at the office of the county treasurer of said counties respectively; said bonds shall be signed by the chairman of the board of the County Commissioners, and countersigned by the clerk of said board, and shall have the seal of said counties respectively, attached thereto. Said bonds shall also specify Interest. stock to whom payable, the rate of interest, and time when the interest and principal shall be paid, and each bond so issued shall not be for a less sum than one thousand dollars. SEC. 3. The board of County Commissioners of said counties are hereby authorized to take all necessary steps to secure the submission of the question of taking stock in said Atchison, Topeka and Santa Fe railroad company, as contemplated by this act, to the voters of their respective counties, and to do all other acts and things necessary to the carrying out of the provisions of this act. SEC. 4. The boards of County Commissioners of said counties respectively, shall, after the issuance of bonds as provided for in this act, cause to be levied and collected each year, with the other taxes of said counties, a sufficient amount to pay the interest as the same accrues, on all bonds so issued under the provisions of this act, and they shall also levy and collect a tax sufficient to create a sinking fund for the final redemption of such bonds, which tax, when paid into the county treasury, shall be and remain a specific fund for said purpose only, and shall not be appropriated or used in any other way, except as hereinafter provided. SEC. 5. That the tax mentioned in the fourth section of this act, levied and collected to create a sinking fund for the final redemption of the bonds issued under this act, shall be invested annually, if the same can be done advantageously by and for the interest of the county, by the president of the board of County Commissioners, and the County Treasurer of the county in the bonds of the United States, and in the bonds of this State, at their market value on the New York Stock Exchange, or the bonds of said county, issued under the provisions of this act, at their lowest market value, but in no case shall the same be purchased at a higher price than their par value. Bonds of the United States and of this State so purchased, shall be held and retained by the County Treasurer until the principal of the bonds issued under this act shall become due, and shall then be disposed of at the highest market rates of the New York Stock Exchange, and the proceeds of the sale of such bonds purchased as aforesaid, shall be appropriated to the redemption of the bonds issued under this act, but all bonds of the county purchased as aforesaid shall have "Cancelled" written across the face of the bonds, and of the remaining coupons, and the date of the cancellation shall be written on the face of the bonds so cancelled, and the cancelled bonds shall then be deposited with the County Commis sioners' clerk. SEC. 6. That whenever the interest on the bonds issued under the provisions of this act shall become due, the same shall be paid by the Treasurer of the county upon presentation of the proper coupons therefor at his office, and the coupons thus paid shall be cancelled and filed in the County Commissioners' clerk's office by the Treasurer. Interest due to be paid-how. is pledged. SEC. 7. The credit of the said counties is hereby pledged to Credit of county the payment of the interest and principal of the bonds mentioned in this act, as the same may become due, except as provided in section six of this act, and it shall be the duty of the County Commissioners' clerk to register such bonds in a book provided for that purpose, which registry shall show the date, number, amount, and to whom is made payable each of said bonds. SEC. 8. That the several counties of this State through which the Leavenworth, Lawrence and Fort Gibson railroad company, or its assigns, shall locate their main road or branches thereof, are hereby authorized and empowered to subscribe for and take stock in said railroad company, and issue bonds therefor in the same manner and to the same extent as the respective counties of Atchison, Jefferson, Shawnee and other counties are authorized and empowered to subscribe for and take stock in the Atchison, Topeka and Santa Fe railroad company, and issue bonds therefor, being governed therein in all respects by the provisions of this act. Approved, March 1, 1864. THOMAS CARNEY, Provis'ns extend ed to L., P. & Ft. Gibson Co. Governor. Bonds. CHAPTER XVI. BONDS FOR JAIL FOR MORRIS COUNTY. AN ACT to authorize Morris County to issue bonds to build a jail. Be it enacted by the Legislature of the State of Kansas: SECTION 1. That the county board of Commissioners of Morris county, Kansas, for the purpose of erecting a suitable jail in said county, be and they are hereby authorized to issue the bonds of said county, not exceeding in amount ten thousand dollars, or so much thereof as the commissioners aforesaid may deem necessary, in sums not less than ten dollars, which bonds shall have coupons attached, and shall draw interest from their date, at the rate of seven per cent. per annum, payable annually; and each bond shall be signed by the president and secretary of the board of Commissioners aforesaid, and countersigned by the Treasurer of said county, and shall specify to whom the same shall be made payable. SEC. 2. The bonds issued under the first section of this act may be made payable at any time within ten years from this When payable. date, and may be negotiated at not less than ninety cents on duty of. the dollar. SEC. 3. Said board of County Commissioners shall levy anCounty board- nually such a per cent. on the taxable property in said county as shall be sufficient to pay the interest on all bonds issued under the provisions of this act, as the same accrues; also, to levy and collect, as other county tax shall be collected, a tax sufficient to create a sinking fund, for the final redemption of such bonds, which taxes, when paid into the treasury, shall be and remain a specific fund for said purposes only. plied. SEC. 4. As fast as money shall accumulate in the treasury, for the redemption of the bonds aforesaid, it shall be applied Money-how ap to the taking up of such bonds, in the order in which they may be presented by the holders thereof; and, in case no bonds shall be presented, the said board of Commissioners may call in and take up the same, and no bond shall draw interest after the said board of Commissioners shall have advertised, by three insertions in some newspaper having general circulation in said county, that they are ready to pay off the principal and interest of any bond designated in such advertisement. |