THE

LAWS OF WISCONSIN

PASSED AT THE

ANNUAL SESSION

OF THE

LEGISLATURE OF 1880,

TOGETHER WITH

JOINT RESOLUTIONS AND MEMORIALS.

PUBLISHED BY AUTHORITY.

MADISON, WIS.:

DAVID ATWOOD, STATE PRINTER.

1880.

LAWS OF WISCONSIN.

[No. 2, S.]

[Published January 31, 1880.]

CHAPTER 1.

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:

ized to borrow

trust fands.

SECTION 1. The commissioners of public lands County authorare hereby authorized to loan a portion of the trust $25,000 of state funds of this state not exceeding twenty-five thousand dollars, to the county of Vernon, in this state, and the board of supervisors of said county, is hereby authorized, 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 principal sum, 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 assessment for state and county taxes previous to the issue of said bonds.

amount due on

and interest, to

chargeable to

SECTION 2. Each and every year, until the whole Secretary of loan be repaid, the secretary of state shall, when he slate to add apportions the state taxes among the several counties, loan, principal aud to the state tax which would properly be charge- state tax, able to said county of Vernon, the annual interest due said 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 taxes are collected and paid.