Report of the Commissioners of Statutory Revision for the Year 1891; Transmitted to the Legislature January 12, 1892 Volume 4 (Paperback)

This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1892 edition. Excerpt: ...corporation, 3 having in charge the moneys received and collected, and 4 who are responsible for the payment of the interest of 5 the bonds lawfully issued by such municipal corpora6 tion, in aid of railroads, shall annually report to the 7 governing board of the municipal corporation, the total 8 amount of the municipal indebtedness of the municipal 9 corporation they represent, upon such bonds or such 10 new bonds substituted therefor, the date of the bonds 11 and when payable, the rate of interest thereon, the acts 12 under which they were issued, the amount of principal 13 and interest that will become due thereon before the 14 next annual tax-levy and collection of taxes for the next 15 succeeding year, and the amount in their hands appli16 cable to the payment of the principal or interest 17 thereon. Each year such governing board shall levy and 18 collect of the municipal corporation suflicient money to 19 pay such principal and interest, as the same shall become 20 due and payable. When collected, such moneys, with 21 the unpaid sums on hand, shall be forthwith paid over 22 to such commissioners, and applied by them to the 23 purposes for which collected or held. When paid, 24 such bonds shall be presented by such commissioners 25 to the governing board of the municipal corporation, 26 at least five days before the annual town-meeting, 27 village or city election, or meeting of the board of 28 supervisors, next thereafter held, who shall cancel the 29 same, and make and file a record thereof in the clerk's 30 oflice of the municipal corporation, whose bonds were 31 so paid or canceled. R. s., 956, L. 1877, ch. 349, 1, 2. Id., 960, L. 1881, ch. 522, 4. (County Law, appendix pp, 1636, 1541.) 1 18....