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in this state, and to legalize bonds already issued for such purposes," approved February 15, 1869; and amendments thereto approved March 3, 1870. And sections 30, 31, and 32, of "An act to establish a system of public instruction for the state of Nebraska," approved February 15, 1869.

See 7, 497.

4225. It shall be the duty of the county clerk, in a book prepared for that purpose, to record the question of submission, notice and proof of publication, return of votes for and against; and the fee for so doing, to be paid by the precinct or township, or school district board or officers, as the case may be, shall be the same as charged for the recording of deeds and mortgages.

4226. It shall be the duty of the county clerk, on presentation of any precinct or township or school district bonds for registry, to register the same in a book prepared for that purpose, which register shall contain: First-The number or name of the precint or township, or school district. Second-The number of the bond. Third-The date of the bond. Fourth-To whom payable. Fifth--Where payable. Sixth-When due. Seventh-When interest is due. Eighth-Amount of bond. Ninth-Reference by page to the book provided for in section two, giving history of the bond. The county clerk shall receive a fee of twenty-five cents for every bond so registered.

See 21; 732 (33 N. W., 266).

4227. It shall be the duty of all precinct or township and school district boards or officers, immediately after the passage of this act, to furnish the county clerks of their respective counties with a statement of the amount of bonds heretofore issued by their precincts, townships, or school districts, and not already paid, the date of each bond, when, where, and to whom payable, the amount, the rate of interest, and when and where it is payable; which bonds shall be registered by the county clerk, in conformity with section three of this act; and the fee for registering under this section shall be twenty-five cents for each bond.

This section held constitutional. 19, 324 (27 N. W., 139).

Secs. 4228 to 4246. "An act to provide for the issuing and payment of school district bonds." 1879, p. 170. In force June 1.

4228. The district officers of any school district in Nebraska shall have power to issue the bonds of the district for the purpose of purchasing a site for and erecting thereon a school house or school houses, and furnishing the same in such district, on the terms and conditions set forth in the succeeding sections of this act.

Bonds cannot be given to party to build a house but must be sold. 16, 188 (20 N. W., 209). Does not authorize levying more than 25 mills annual school taxes. 12, 259 (11 N. W., 307). School bonds held void under law on February 15, 1869. 10, 544 (7 N. W., 315). Bonds issued under section 30, General Statutes, 966, were valid. 13, 81 (12 N. W., 927).

4229. No bonds shall be issued until the question has been submitted to the qualified electors of the district, and two-thirds of all the qualified electors present, and voting on the question, shall have declared by their votes in favor of issuing the same, at an election called for the purpose, upon a notice given by the officers of the district, at least twenty days prior to such election.

4230. No vote shall be ordered upon the issuance of such bonds, unless a petition shall be presented to the district board, suggesting that a vote be taken for or against the issuing of such amount of bonds as may therein be asked for, to purchase a site for or build a school house or houses, or for furnishing the necessary furniture and apparatus for the same, or for all of these purposes, which petition shall be signed by at least one-third of the qualified voters of such district; *Provided, That the board of education in any city of the metropolitan class may order a vote upon the issuance of such bonds, without a petition therefor.

All after* added 1887, p. 596.

4231. That no such bonds shall be issued in the aggregate amount to exceed five per cent (excepting in districts having over two hundred (200) school children) of the last complete assessment of the taxable property of the district for state and county purposes; nor shall any district issue bonds unless there are at least twelve (12) children of school age residing within such district.

Amended 1887, p. 597.

4232. The amount of bonds shall in no case exceed five hundred (500) dollars in those districts having less than twenty-five (25) scholars, and not less than twelve (12) of school age, and the amount of bonds shall not exceed one thousand (1,000) dollars when the number of children of school age are twenty-five or more, and less than fifty (50); and the amount of bonds shall not exceed two thousand (2,000) dollars, when the number of children of school age in the district are fifty (50) or more, but less than one hundred (100); and the amount of bonds shall not exceed five thousand (5,000) dollars when the number of children of school age in the district are one hundred (100) or more, but less than two hundred (200); and in districts having two hundred (200) or more school children, such amount as may be agreed upon, not to exceed ten (10) per cent of the assessed valuation of the last completed

assessment.

Amended 1887, p. 597.

4233. The bonds issued under this subdivision shall draw such interest as shall be agreed upon, but not to exceed seven per cent per annum.

4234. The bonds shall specify on their face the date, amount, for what purpose issued, the time they run, and the rate of interest; shall be printed on good paper, with coupons attached for each year or half year's interest, and the amount of each year's interest shall be placed in corresponding coupons until such bonds shall become due, in a manner so as to have the last coupon fall due at the same time as the bonds; said bonds and coupons thereto attached shall be severally signed by the director, moderator, and treasurer of the district board.

4235. It shall be the duty of the proper officers of any school district in which any bonds may be voted under the authority of any law of this state, before the issuance of such bonds, to make a written statement of all proceedings relative to the vote upon the issuance of such bonds and the notice of the election, manner and time of giving notice, questions of submission, results of a canvass of the vote on the proposition on account of which it is proposed to issue such bonds, together with a full statement of the assessed valuation, the number of children of school age residing in the district, and total bonded indebtedness of the school district voting such bonds. Such statement shall be certified to under oath by the proper school board of the district, and be transmitted with the bonds proposed to be issued to the auditor of public accounts.

4236. The auditor shall examine the statements and bonds so submitted to him, and if he be satisfied that such bonds have been voted in conformity to law, and are in all respects in due form, he shall record the statement and register the bonds in his office, and no such bonds shall be issued or be valid unless they shall be so registered and have endorsed thereon a certificate of said auditor and the sec retary of state, showing that such bonds are issued pursuant to law, the data filed in the office of said auditor being the basis of such certificate.

4237. Upon the registration of such bonds aforesaid, the auditor of public accounts shall certify the fact to the county clerk of the county in which the district is situated, and also to the proper officers of such school district, and whose duty it shall be to enter the same upon the proper records of such school district, and taxes for the payment of such bonds and the interest thereof shall be levied in the manner provided by section 13 of this act [4240].

4238. If the auditor of public accounts is not satisfied that such bonds have [been] issued according to law, he shall return the same to the proper officers with a certificate to that effect.

4239. Bonds heretofore issued under any of the provisions of any law of this state may be registered in the office of the auditor of public accounts upon compliance with the provisions of this chapter, but nothing herein contained shall affect the validity of bonds heretofore issued and not registered under any law of this state.

4240. It shall be the duty of the board of county commissioners in each county to levy, annually, upon all the taxable property in each school district in such county, a tax sufficient to pay the interest accruing upon any bond issued by such school district, and to provide a sinking fund for the final redemption of the same, such levy to be made with the annual levy of the county, and the taxes collected with 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 the final payment of the same at maturity. It shall be the duty of the county clerk to furnish a copy of his register to the county treasurer.

4241. That the phrase and expression "school district," as used in the preceding section, is hereby declared to mean, intend, and refer to the school district as it existed immediately prior to and at the time of the issuance of any bonds by said school district, including all lands and property and inhabitants comprised and contained in said school district at the time of the issuance of any bonds, including all and any portions of said district subsequently separated from said district, whether by formation of a new district or by any change of boundaries of said original district.

902.)

But new district becomes liable for debts of old. This section construed. 15, 4 (16 N. W., 4242. Any money remaining in the hands of any treasurer, after the payment of interest due on any bonds which are a valid and legal obligation against the school district to which such money belongs, and the retention of a sufficient amount to pay the accruing interest npon 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 treasurer, when so ordered by the school board, invested as follows, to-wit: First-In redeeming bonds of the school district issuing the same. Second-In registered bonds of the county in which the district is situated. Third-In the bonds of the state of Nebraska. Fourth-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.

4243. 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 therein made at the place so designated in such bond or coupon, or at the commercial agency of the state for such purposes, and in order that the funds may not be misapplied, the 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 endorsed 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.

4244. 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 treasurer shall be liable on his official bond for the faithful disbursements of all moneys so collected or received by him. *After the principal and interest of such bonds shall have been fully paid, and all obligations for which such fund and taxes were raised have been discharged, the county clerk, upon the order of the county commissioners, shall notify the county treasurer to transfer all such funds remaining in his hands to the credit of the district to which they belong.

All after* added 1885, p. 331.

4245. When any registered bonds shall mature, the same shall be paid off by the treasurer, at the place where the same shall be 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 treasurer on the face thereof, "Canceled," together with the date of such payment; and thereupon be filed with the clerk, who shall enter satisfaction of such bonds upon the records of such school district. In case such bonds are payable out of the state, an allowance of one-fourth of one per cent shall be made to the 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.

4246. That the act entitled "An act to amend an act entitled 'An act to establish a system of public instruction for the state of Nebraska,'" approved February 25, 1875; and, also those portions of the act entitled "An act to provide for the registration of precinct, or township, and school district bonds," in conflict with this act, and all other acts or parts of acts inconsistent with this act, be and the same is hereby repealed; Provided, That nothing in this act shall affect in any manner the validity of bonds heretofore issued.

Secs. 4247 to 4249.

bonds." 1879, p. 176.

"An act to provide for the funding of outstanding school district In force June 1.

4247. That any school district in the state of Nebraska which has heretofore voted and issued bonds to build or furnish a school house, or for any other purpose, and which bonds, or any part thereof, still remain unpaid, and remain and on [are] a legal liability against such district, and bearing interest at ten per centum per annum, is hereby authorized to issue coupon bonds at a rate of interest not exceeding seven per centum per annum, to be substituted in place of and exchanged for such bonds heretofore issued, whenever such school district can effect such substitution and exchange, at a rate not to exceed dollar for dollar.

4248. The new bond so issued shall have recited therein the object of its issue, the title of the act under which the issue was made, stating the issue to be in pursuance thereof, and shall also state the number, date, and amount of the bond or bonds for which it is substituted, and such new bond shall not be delivered until the surrender of the bond or bonds so designated.

4249. The new bonds as issued shall not require a vote of the people to authorize such issue, and they shall be paid, and the levy be made and tax collected for their payment in accordance with laws now governing the said bonds heretofore issued.

Secs. 4250 to 4253. "An act to authorize any school district in any city of the first class to issue bonds in certain cases. 19 1879, p. 167. In force February 26.

4250. That any school district in any city of the first class in this state be and is hereby authorized and empowered to issue its coupon bonds of such denominations as the board of education of such school district may deem best, and in an amount equal to the amount outstanding and unpaid of bonds bearing interest at the rate of ten per cent per annum, heretofore issued for the purpose of erecting a

high school building, by such school district, or by any school organization or board of regents which shall have been superseded by such school district.

4251. Any bonds issued under the provisions of this act shall be for the payment, by the school district issuing the same, of the sum specified therein, made payable in the city of New York, in not more than twenty years nor less than five years from the time they are issued, with interest at a rate not exceeding seven per cent per annum, payable semi-annually; said bonds and coupons shall be required [signed] by the president of the board of education and countersigned by its secretary; Provided, That such bonds may be made redeemable at any time after five years, at the option of the board of education.

4252. It shall be the duty of the board of education of any school district issuing bonds under the provisions of this act, to negotiate such bonds, but for not less than the par value thereof, and all the proceeds arising from the sale thereof shall be paid to the treasurer of the board of education, and shall be applied solely to the redemption and purchase of the bonds heretofore issued by such school district, or school organization superseded by it, for the purpose of erecting a high school building, and bearing interest at the rate of ten per cent per annum; Provided, That none of the said bonds heretofore issued shall be redeemed or purchased for more than the face value thereof.

4253. The bonds issued under the provisions of this act shall not require a vote of the people to authorize their issue, and they shall be paid, and taxes shall be levied and collected for their payment in the same manner as is now provided by law for the payment of bonds heretofore issued by such school districts."

III. WARRANTS.

Secs. 4254 to 4265. "An act to provide the duties of the state treasurer, of the treasurers of counties, and of other municipal corporations in certain cases, and to enforce their performance. 1871, p. 113. In force March 11.

4254. All warrants upon the state treasurer, the treasurer of any county, or any municipal corporation therein, shall be paid in the order of their presentation therefor.

See 29, 519 (45 N. W., 780).

4255. The treasurer of this state, and the treasurer of every county, and every incorporated city or town therein, shall keep a warrant register, which register shall show, in columns arranged for that purpose, the number, date, and amount of each warrant presented and registered as hereinafter provided, the particular fund upon which the same is drawn, the date of presentation, the name and address of the person in whose name the same is registered, the date of payment, the amount of interest, and the total amount paid thereon, with the date when notice to the person in whose name such warrant is registered is mailed, as hereinafter provided. Section 1 quoted, and sections 2 and 3 cited. 10, 31 (4 N. W., 377).

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4255. It shall be the duty of every such treasurer, upon the presentation of any warrant for payment, in presence of such person, to enter such warrant in his warrant register for payment in the order of its presentation, and upon every warrant so presented and registered he shall endorse "registered for payment,' with the date of such registration, and shall sign such endorsement; Provided, That all warrants outstanding at the time this act takes effect shall be presented for payment or registration by August first (1st), 1891, and shall not draw interest after such date unless so presented.

Amended 1891, p. 394.

4257. It shall be the duty of every such treasurer to put aside in a separate and sealed package, the money for the payment of each registered warrant, in

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