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election shall be the same, except that they shall be made to the district board. (Laws 1879, ch. 49, sec. 2.)

SEC. 3. Issuance. [7633] The bonds herein provided for shall be issued in denominations of not less than $100 nor more than $500 each ;8 they shall bear interest at a rate not to exceed six per cent per annum, payable semiannually on the 1st days of January and July of each year, at such place as shall be designated in the bonds, the principal of the bonds being made payable within fifteen years from their date. These bonds shall specify on their face the date of issue, amount, for what purpose and to whom issued, the time they run, the rate and times of payment of interest, and shall have coupons attached for the interest as it becomes due, said coupons being so arranged that the last one shall fall due at the time of the maturity of the bond. Said bonds and the coupons thereto attached shall be signed by the director and countersigned by the clerk, and after registration by the county clerk shall be negotiable and transferable by delivery, and may be disposed of by the district board at not less than ninety-five cents on the dollar, and the proceeds of the same applied as provided for in the petition at which issuance of the bonds was authorized. (Laws 1879, ch. 49, sec. 3.)

SEC. 4. Limitations Modified. The limitations placed by the statutes upon the voting of bonds in cities and school districts for the purpose of erecting school buildings may be modified as in this act provided. (Laws 1911, ch. 257, sec. 1.)

SEC. 5. Authority of School-fund Commissioners. The Board of School-fund Commissioners of the state of Kansas is hereby authorized and empowered to make an order authorizing any city or school district to vote bonds for the purpose of erecting school buildings to an amount of not more than fifty per cent in excess of, and in addition to, the amount of bonds that may be voted under laws now in force. (Laws 1911, ch. 257, sec. 2.)

SEC. 6. Application to Vote Additional Bonds. The power of the said Board of School-fund Commissioners herein may be invoked by the filing with it of an application by the board of education of a city or by the school district board of a school district that the permission of the said Board of School-fund Commissioners be given for the voting and issuance of additional bonds as provided in the preceding section. The said application shall be accompanied by a petition to the board of education or the school-district board, signed by not less than one-half of the number of electors who may be entitled to vote for an issuance of bonds under the laws in force at the time of the taking effect of this act, requesting that an application as hereinbefore provided shall be filed with the said Board of School-fund Commissioners. Notice of the intention to file such application shall be given to the electors by a publication in the official county paper, in form to be prescribed by the said Board of School-fund Commissioners; and the said board shall also prescribe all rules and regulations which may be found necessary to properly carry out the provisions of this act, including rules in relation to the evidence required in support of the application and the method of furnishing such evidence. (Laws 1911, ch. 257, sec. 3.)

8. Bonds should be issued in denominations of $100, $200, and $500, to conform to the printed bonds furnished to districts by the School-fund Commissioners.

SEC. 7. Hearing of Application. The said application shall be heard by the Board of School-fund Commissioners upon a day fixed, and the board of education or school-district board be so notified; and which hearing shall be at the county seat of the county whence the application comes; and the said board shall make an order either granting or denying said application; and if the order made shall grant the application and call for an election to vote upon the question of issuing said increased amount of bonds, the election so called shall be held in all respects as is provided by laws in operation at the time of the taking effect of this act, and any bonds so voted and issued pursuant to such election shall be in all respects legal and valid bonds of the city or school district which votes and issues them. (Laws 1911, ch. 257, sec. 4.)

SEC. 8. Registration. [7634] Before delivering any schooldistrict bonds, the board of directors of the district issuing the same shall cause them to be registered with the clerk of the county in which the said district is located. And it shall be the duty of the county clerk, on presentation of any school bonds for registry, to register the same in a book prepared for that purpose, which register shall contain (1) the number of the district; (2) the number of the bond; (3) date of bond; (4) to whom payable; (5) when [where] payable; (6) when due; (7) when interest is due; (8) amount of bond. The county clerk shall furnish one copy of his register to the county treasurer, and forward one copy to the state superintendent, together with a statement showing, (1) the number of sections of land in the district issuing such bonds; (2) the number of acres of land assessed and subject to taxation in said district; (3) the assessed valuation of taxable lands; (4) the assessed valuation of all personal property in such district; which statement shall be signed by each member of the school board issuing the bonds, and the county clerk shall certify under the official seal of his office to the correctness of the statement and the genuineness of the signatures attached thereto. (Laws 1879, ch. 49, sec. 4.)

SEC. 9. Interest and Sinking-fund. [7635] It shall be the duty of the board of county commissioners of each county to levy, annually, upon all the taxable property in each district in such county, a tax sufficient to pay the interest accruing upon any bonds issued by such district, and to provide a sinking-fund for the final redemption of the bonds, such levy to be made with the annual levy of the county and the taxes collected with the other taxes, and when collected shall be and remain in the hands of the county treasurer, a specific fund for the payment of the interest upon such bonds, and for their final payment at maturity;' provided, that moneys in the hands of the county treasurer belonging to the sinking-fund of the several school districts in such county shall be invested by the county treasurer, (1) in the bonds of the district to which said sinking-fund belongs, provided such bonds can be purchased at a price not exceeding their market or par value; (2) in the bonds of other school districts of this state maturing before the bonds for which such fund is raised, provided the same can be purchased at a price not exceeding their market or par value; (3) in the bonds of the state of Kansas, or of the United States. (Laws 1879, ch. 49, sec, 5.)

SEC. 10. Interest Credited to Sinking-fund. That whenever any city, township or school district sinking-fund shall amount to $500 and shall have been in the hands of the county treasurer for the period of one year, it shall be the duty of such treasurer, and he is hereby required, to credit any such sinking-fund with its proportional share of the interest thereafter accruing from the deposit by such treasurer of the public moneys in banks as provided by law, and thereafter such interest shall belong to and be a part of such sinking-fund, and the same shall no longer belong to the county. (Laws 1911, ch. 288, sec. 1.)

SEC. 11. Penalty for Issuing Illegally. [7636] school-district officer, whose duty it is under the provisions of this act to issue or assist in any manner in the issuance of the bonds of any school district, shall prepare, sign or deliver, or aid, counsel or assist in preparing, signing or delivering, or shall cause to be prepared, signed, or delivered, any bond or bonds of any school district, at any time before such bond or bonds are authorized by this act to be prepared, signed or delivered, such officer shall be guilty of a felony, and upon conviction shall be fined in a sum of not less than $500 nor`more than $5000, or by imprisonment in the penitentiary for not less than one year and not longer than five years, or by both such fine and imprisonment. And if the board of directors of any school district, or any member thereof, shall use or dispose of any school district bonds, or the money accruing from the sale of such bonds, in any other manner or for any other purpose than that for which the same was created or intended,

9. The sinking-fund can not legally be used in payment of any other obligation than that for which it was levied.

If any

he or they shall be liable to be punished by fine in any sum not less than $1000, by information or indictment in any court of competent jurisdiction, or by imprisonment in the county jail not more than six months, or by both such fine and imprisonment. (Laws 1879, ch. 49, sec. 6.)

SEC. 12. Final Disposition. [7637] On the payment of the bonds or coupons of any school district, the county treasurer shall immediately cancel the same, and indorse thereon the date of payment; and at the time of his settlements with the several school-district treasurers of his county he shall deliver to each the canceled bonds and coupons of his district, and take a receipt therefor, and such canceled bonds and coupons shall be destroyed by the district treasurer in the presence of all the officers of the district, a complete record of their destruction being made by the district clerk. On the last Saturday of July of each year, each and every county treasurer shall make to the clerk of his county a detailed report of all the bonds and coupons canceled during the year, and the date of payment of the same, accompanied by the receipts given by district treasurers therefor; and the county clerk shall immediately thereafter cancel the registry of all such bonds and coupons by indorsing thereon the date of payment of each. (Laws 1879, ch. 49, sec. 7.)

NOTE.-All school bonds must first be offered to the School-fund Commission, and the commission has the option to purchase same at not more than par. See section 530 of this book.

SEC. 13. Payment before Maturity. [7716] If at any time any board of education, school district, township, county or city of any class shall have accumulated in the treasury sinking-fund sufficient to pay in full any bond or bonds issued by such board of education, school district, township, county or city of any class before the maturity, the state permanent school fund, State Normal School fund, or the University permanent school fund, or Agricultural College endowment fund being the holders thereof, such board of education, school district, township, county or city of any class may pay the same to the state treasurer at the time any interest coupon is due, and take up such bond or bonds, and the state treasurer is hereby authorized to receive the same and cancel such bond or bonds and the unmatured coupons attached thereto, and deliver the same so canceled to the officer paying the amount; provided, that the state treasurer, before delivering said bond or bonds, shall present the same to the auditor of the state, together with a statement showing the amount of coupons upon which no moneys have been received, and upon examining such statement, and comparing with the coupons attached to such bond or bonds, the auditor shall credit the treasurer with the amounts shown to be canceled before maturity. (Laws 1905, ch. 382, sec. 1.)



SEC. 14. Payment before Maturity-Additional Provisions. [605] Whenever any county, city, township or school district in this state shall owe any outstanding and unmatured bonds, and at the same time shall have in its treasury any sinkingfunds raised to pay such bonds, the proper officers of such county, city, township or school district may use such funds to purchase or pay any of such bonds and cancel the same, whenever they can be so purchased or paid at or below par, or at such reasonable price above par as may be requested by a majority of the resident taxpayers of such county, city, township, or school district, and which request may be made by a written petition to that effect, directed to such officers. (Laws 1905, ch. 72, sec. 1.)

SEC. 15. Payable at State Treasury. [622] From and after the taking effect of this act all bonds issued by the state, or any county, township, municipality, or school district, and the interest coupons thereon, shall be made payable at the office of the state treasurer, in the city of Topeka, in the state of Kan

(Laws 1908, ch. 58, sec. 2.) SEC. 16. State Treasurer to Furnish Statement. [7705] At least thirty days before the maturity of any bonds or coupons belonging to the permanent school fund or sinking-fund, it shall be the duty of the state treasurer to furnish a detailed statement to each county or city treasurer, or the treasurer of any board of education, of the amount due from them respectively, describing in such statement the number of the district or the name of the city, the amount of interest due, and the amount of principal due, if any. (Laws 1877, ch. 174, sec. 2.)

SEC. 17. Remittance of Funds. [7706] It shall be the duty of each county and city treasurer, and the treasurers of boards of education, to remit to the state treasurer, at least ten days before the maturity of any bonds or coupons, all moneys collected by them for the redemption of such bonds and coupons, and all express charges and postage shall be a proper charge against such city or school district and shall be allowed to such treasurer on settlement. (Laws 1877, ch. 174, sec. 3.)

SEC. 18. Cancellation. [7707] On receipt of any funds by the state treasurer, he shall immediately cancel all coupons or bonds for which funds are remitted, and return such coupons or bonds to the office of the treasurer remitting the same. (Laws 1877, ch. 174, sec. 4.)

SEC. 19. Penalty. [7708] Any county or city treasurer, or treasurer of any board of education, who shall neglect or refuse to perform the duties required of him by this act, shall be liable to the state in a sum equal to double the amount of such bonds or coupons remaining unpaid by reason of such neglect or refusal, which may be recovered in a suit at law

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