10-113.   Levies for sinking fund; penalty for failure to make.It shall be the duty of the proper officers charged with the levying oftaxes to levy in each year a sum sufficient to pay the interest on suchbonds, and the bonds falling due in that year, and any such officer failingto make such levies shall be guilty of a misdemeanor, and upon convictionthereof shall be punished by a fine of one hundred dollars: Provided,If the bonds mature in such manner as to require it, there may be leviedduring the first year in which a tax is to be collected two installmentswith not to exceed interest for two years, or one installment and interestfor one year or more, and the last levy on any bond issue shall contain theinstallment with the interest to date of maturity of the last bondoutstanding.

      History:   R.S. 1923, § 10-113; Dec. 27.