« SebelumnyaLanjutkan »
LAWS OF WISCONSIN
PASSED AT THE
LEGISLATURE OF 1880,
JOINT RESOLUTIONS AND MEMORIALS.
PUBLISHED BY AUTHORITY.
LAWS OF WISCONSIN.
[No. 2, S.]
[Published January 31, 1880.]
AN ACT to authorize the commissioners of public lands to
loan a portion of the trust funds of the state to the county of Vernon.
The people of the state of Wisconsin, represented in senate
and assembly, do enact as follows: SECTION 1.
The commissioners of public lands Conoty aalborare hereby authorized to loan a portion of the trust $25,00 of stato funds of this state not exceeding twenty-five thousand trust fande. dollars, to the county of Vernon, in this state, and the board of supervisors of said county, is hereby autborized, in behalf of said county, to borrow any sum, by resolution of that body, not exceeding the amount above named, of said commissioners, and to issue to said commissioners certificates of the indebtedness so contracted. Such indebtedness shall bear in- Rate of interest terest at the rate of seven per cent. per annum, and said interest shall be paid annually, together with not less than one-tenth of the priocipal suin, till the whole is paid : provided, that the amount of said bonds, including existing indebtedness, shall not exceed in the aggregate five per centum on the value of the taxable property of said county, to be ascertained by the last assessinent for state and county taxes previous to the issue of said bonds.
SECTION 2. Each and every year, until the whole Secretary of !oan be repaid, the secretary of state shall, when he apportions the state taxes among the several counties, loan; Pedocipale and to the state tax which would properly be charge- state tas; able to said county of Vernon, the annual interest due caid county. the state on such loan, together with one tenth of the principal sum so loaned, and the same shall be levied and collected out of the taxable property of said county, and paid over to the state in the same way as other state iaxes are collected and paid.
state to add amount due on