Statement of bonded indebt-

county to be

were issued; also, of the date, amount, number, maturity when payable, where payable, and the rate of interest, and when and where payable, of such bonds; and shall, at the time of issuing the same, make out and transmit to the auditor of state, a certified statement of such registry, which shall be attested by the county clerk, under his official seal. Then the auditor of state, upon the receipt of such statement, shall, in a book by him kept for that purpose, make a faithful record of the same.

SEC. 2. It shall be the duty of the clerk of each edness of each county in this state, within sixty days from the taking sent to auditor. effect of this act, and at such other time as the auditor of state may request, to make out, certify and transmit to such auditor, a full and complete statement of the bonded indebtedness of every description, of such county, at the date of such statement, particularly setting forth the nature of such bonds, and for what the same were issued, which shall be entered of record by the auditor of state, in the same manner as provided for in section one of this act. The county clerk shall receive the same compensation for his service rendered as under the provision of section one and two of this act, as are allowed by law for a copy of like records, to be paid by said county.

When auditor shall register bonds.

SEC. 3. Whenever the holder of county bonds shall present the same to the auditor of the state for registration, the auditor, upon being satisfied that such bonds have been issued according law, shall register the same in his office, in a book to be kept for that purpose, in the same manner that such bonds are registered by the officers issuing the same, and shall, under his seal of office, certify upon such bonds the fact that they have been regularly and legally issued, and that such bonds have been registered in his office in accordance with the provisions of this act, for which registration and certificate the auditor shall be entitled to a fee of one-fourth of one per cent. upon

the dollar for each bond so registered, to be paid by the holder thereof, the data filed in this office being the basis of such certificate.

Sinking fund

to be certified to county clerk.

ty clerks.

SEC. 4. When any of the bonds of any county shall be so registered, the auditor of state shall, annually, on or and interest due before the second Monday of June in each year, ascertain the amount of sinking fund and interest accrued, and to accrue before the tax for the next succeeding year shall be levied upon all bonds registered in his office, and shall certify the amount thereof to the clerk of the county in which such bonds were issued, specifically setting forth the amount thus due, and to become due for such year. SEC. 5. The clerk and recorder of any county, upon Duties of coun receiving such certified statement from the auditor of state, shall proceed to ascertain from the assessment roll of the county, the amount of taxable property in such county, and what per centage is required to be levied thereon to pay the said interest and to create a sinking fund, in compliance with the certificate of the said 'auditor; and when so ascertained, shall levy such per centage upon the taxable property of such county, and place the same upon the tax roll of the county, in a separate column or columns designating the purposes for which said taxes are levied, and the said taxes shall be collected by the county treasurer in the same manner that other taxes are collected.

rer to pay inter

bonds.

SEC. 6. Upon the receipt of such moneys by the county County treasu treasurer, he shall, out of the same, at once proceed to pay est on such off the interest accrued upon such registered bonds, at the place where such interest is made payable. The county treasurer shall cause to be surrendered the coupons for all interest thus paid, which coupons shall be filed with and cancelled by the county clerk, and his receipt taken therefor and retained by said treasurer. The moneys thus collected and remaining in the hands of the county treasurer, after the payment of the said interest as herein provided,

Where princi. pal and interest to be paid.

Tax and funds collected pledged to

redemption of bonds.

How payable at maturity.

except a sufficient amount to pay the accruing interest upon such bonds for the current year, shall be retained as a sinking fund for the final redemption of such bonds, and shall be, by the county treasurer, when so ordered by the county commissioners, invested as follows, to-wit: First, in redeeming the bonds of the county issuing the same; Second, in the bonds of the State of Nebraska; Third, in the bonds of the United States, provided that the bonds thus purchased, shall in all cases be purchased at the lowest market price, after twenty days' notice by publication in at least one newspaper published and in general circulation at the capital city or town of the state; the cost of which advertising at legal rates, shall be paid out of the sinking fund for the redemption of such bonds.

SEC. 7. When the interest and principal, or interest only, of such registered bonds are payable in New York city, or elsewhere, out of the state, payment shall be then made at the place so designated in such bond or coupon, or at the financial agency of the state for such purposes, and in order that the funds may not be misapplied, the county treasurer shall procure a draft for the amount, to be transmitted by drawing his check on some bank in this state, and both check and draft shall be so indorsed as to show upon what bond or bonds the funds shall be applied; or at the request of the party holding or owning said bonds, payment may be made at the office of said treasurer.

SEC. 8. The tax and funds so collected shall be deemed pledged and appropriated to the payment of the interest and principal of the registered bonds herein provided for, until fully satisfied, and the county treasurer shall be liable on his official bond, for the faithful disbursements of all moneys so collected or received by him.

SEC. 9. That when any registered bonds shall mature the same shall be paid off by the county treasurer, at the place where the same are payable, out of any money in

his hands or under his control for that purpose, and when so paid the same shall be endorsed by the county treasurer on the face thereof, "Cancelled," together with the date of such payment; and thereupon be filed with the county clerk, who shall enter satisfaction of such bonds in the record where the same are registered. In case said bonds are payable out of the state, an allowance of onefourth of one per cent. shall be made to the county treasurer for the expense attendant in making such payment, to be deducted from any money in his hands remaining after payment of such matured bonds.

Statement to be

SEC. 10. The county treasurer and county clerk shall, when ordered by the county commissioners, publish a de- published. tailed statement of the business transacted by them under the provisions of this act.

SEC. 11. All acts and parts of acts inconsistent with Acts repealed, the provisions of this act, are hereby repealed.

SEC. 12. This act shall take effect and be in force from To take effect. and after its passage.

For the issuing of state bonds for the purpose of providing seed for
the citizens of counties devastated by grasshoppers during the
year 1874.

Be it enacted by the Legislature of the State of Nebraska:
SECTION 1. That the governor and secretary of state

State bonds to be and they are hereby authorized and required to issue

be issued.

Board of relief constituted.

Duties and compensation of board.

Tax to be levied for pay:

pal and interest

the bonds of the state to the amount of fifty thousand dollars, payable ten years after date, with interest at ten per cent. per annum, payable semi-annually on the first day of July and January of each year. Principal and interest payable in the city of New York; said bonds shall be of the denomination of one thousand dollars each.

SEC. 2. General David Remick, General E. O. C. Ord, Governor Alvin Saunders, Hon. Church Howe, and the State Treasurer, are hereby constituted a board of relief, to whom the secretary of state shall deliver said bonds as soon as the same are issued, and said board of relief shall dispose of said bonds and place the proceeds thereof in the state treasury, to be drawn out upon proper vouchers as fast as expended only, and be used in the purchase of seed grain, for distribution among the citizens of this state made destitute by the ravages of the grasshoppers in the year 1874.

SEC. 3. Said board of relief shall attend to the purchase and delivery of seed grain to the state aid society, and to the state grange relief committee for distribution in the discretion, of said board of relief, among the counties actually needing the same, and the said David Remick, Alvin Saunders, and Church Howe, shall each receive the sum of five dollars per day, for each day's service actually rendered as members of said board, not exceeding fifty days each, and shall make a report of their proceedings at the next session of the legislature.

SEC. 4. For the purpose of paying the annual enterment of princi- est, and principal of the bonds, when the same become due, there shall be levied and collected a tax of one-tenth of one mill on the dollar valuation of the grand assessment roll of the state, which shall be levied annually by the state board of equalization in addition to all other taxes levied for state general purposes.