10-113. Levies for sinking fund; penalty for failure to make.
10-113
10-113. Levies for sinking fund; penalty for failure to make.
It shall be the duty of the proper officers charged with the levying of
taxes to levy in each year a sum sufficient to pay the interest on such
bonds, and the bonds falling due in that year, and any such officer failing
to make such levies shall be guilty of a misdemeanor, and upon conviction
thereof 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 levied
during the first year in which a tax is to be collected two installments
with not to exceed interest for two years, or one installment and interest
for one year or more, and the last levy on any bond issue shall contain the
installment with the interest to date of maturity of the last bond
outstanding.
History: R.S. 1923, § 10-113; Dec. 27.