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audited accounts, intended to be redeemed and paid under the provisions of this act, and the holders of such bonds, warrants, orders, certificates, or audited accounts, dated prior to the issuing of said bonds, shall present the same for payment, and the said county treasurer shall pay the same out of the funds so provided, and said treasurer shall forthwith cancel said bonds, warrants, orders, certificates, or audited accounts so presented and paid, by writing across the face of each of them with red ink, plainly and legibly, the following words: (properly filling the blank). Canceled from bonds and warrants, bond funds, this
SEC. 137. The treasurer of said county shall record Record of in a book kept for that purpose, a statement of all the bonds issued, giving the number, amount, date, to whom issued; and shall also keep and record in said book, a statement of all the bonds, warrants, orders, certificates, and audited accounts, so as aforesaid taken, giving their number, date, amount of principal and interest, if any, to whom issued, by whom presented for redemption, and as often as he may be called upon by the said board so to do, he shall present a statement thereof, and all his doings in the premises, to the said county board. SEC. That sections 132, 134, 135, 136, 137, and Act repealed, all acts and parts of acts inconsistent with the provi-191, 192 1879, sions of this act, be and the same are hereby repealed. Approved March 1st, A.D. 1883.
387, 388, 389.
What is included.
Shall notify bondholders.
AN ACT to authorize counties to issue bonds for refunding their bonded indebtedness, and provide for registering and certifying the same, and for levying a tax to pay the interest and principal thereof.
Be it enacted by the Legislature of the State of Nebraska:
SEC. 1. That any county of this state is hereby authorized to issue its coupon bonds at a rate of interest not exceeding six per cent per annum, for the purpose of refunding its bonded indebtedness, said bonds to be substituted in place of, and exchanged for bonds heretofore issued, whenever such county can effect such substitution and exchange, which substituted bonds shall equal the amount due for principal and interest of such bonded indebtedness with interest payable semi-annually, and the principal payable not exceeding twenty years from their date.
SEC. 2. The provisions of the foregoing section and of this act shall apply to and include all bonds heretofore issued by any county which have been held and determined to be valid and binding in the hands of bona fide holders thereof, in any action or actions thereon, or on any coupon thereof, by any state or federal court of competent jurisdiction within this state, and such bonds with the interest thereon constitute a bonded indebtedness within the meaning of this act.
SEC. 3. That in all cases where the bonds of any county are past due, and in all cases where counties have issued bonds that were redeemable at the option of the county board at a fixed time, and where said time has elapsed, the county board shall notify the holders of such bonds to present the same for redemption,
or exchange and substitution, and in case of the refusal of such bondholders to present the same for redemption, or exchange and substitution, at the place where said bonds are made payable, the county shall not be liable to pay interest on said bonds in excess of the rate provided for as the interest of said refunding bonds, and such interest shall commence with the coupon next to become due after such notice has been given.
SEC. 4. That in case an exchange of said bonds can- Sale of refundnot be effected the county commissioners are hereby authorized to sell said refunding bonds from time to time, at not less than their face value, in such sums as may be necessary to create a fund for the redemption of the outstanding bonds aforesaid, and the money realized from the sale of said refunding bonds shall not be expended or used for any other purpose than for refunding said outstanding bonds.
SEC. 5. It shall be the duty of the auditor of state to State auditor to register such substituted bonds, and of the secretary and auditor of state to certify the same, and a tax to pay the interest and principal thereof shall be levied in the same manner as is now provided by law or the constitution in the case of other county bonds.
SEC. 6. That the county clerk of each county shall Certificate of certify under the seal of the county to the auditor the number, amount, and description of each bond canceled, or to be canceled, and refunded, and the amount due thereon for principal and unpaid interest, and thereupon the auditor is authorized to register a similar amount of refunding bonds; but in no case shall the auditor register any refunding bonds in excess of the amount so certified to him by the county clerk as aforesaid; and that said bonds shall be entitled to registration as aforesaid in the order that they are presented to the auditor.
What bonds registered.
Refund without vote
To take effect.
SEC. 7. That the registration provided for in this act shall apply to all refunding bonds already issued or to be issued in conformity with the provisions of this act.
SEC. 8. That counties are hereby authorized to refund their bonded indebtedness as provided for in this act, at dollar for dollar of said indebtedness, irrespective of the fact that said indebtedness exceeds ten per cent of the present valuation of the property of said county, and the same shall be registered as provided for in this act; and the refunding bonds hereby authorized, may be issued by the commissioners of the county without. submitting the proposition therefor to a vote of the electors.
SEC. 9. That whereas an emergency exists, this act shall take effect from and after its passage. Approved February 28th, A.D. 1883.
AN ACT to provide for the payment of drainage assessment made by the board of county commissioners of Dodge county, Nebraska, upon certain school lands situate in said county.
WHEREAS, The board of county commissioners of the county of Dodge, in the state of Nebraska, on the 19th day of March, A. D. 1879, under and by virtue of an act, entitled "An act to drain marsh and swamp lands," passed March 3, 1873, did, for the purpose of draining certain swamp lands situate in said county, to-wit: The northwest quarter, the southwest quarter, and the southeast quarter of section thirty-six (36), in township eighteen (18) north, in range eight (8) east of
the sixth (6th) principal meridian, levy and assess upon
WHEREAS, Said drain has been completed and paid, for out of the fund of said county, and
WHEREAS, The same is now due and unpaid to said county; therefore
Be it enacted by the Legislature of the State of Nebraska:
SECTION 1. That the auditor of public accounts of Warrant to be this state be and he is hereby ordered upon the presentation by the board of county commissioners of said county of Dodge, of a duly certified copy of the proceedings of said board in making said assessinents, to draw