10-1006.   Sinking fund used to purchase bonds.Whenever any county, city, township or school district in this stateshall owe any outstanding and unmatured bonds, and at the same time shallhave in its treasury any sinking funds raised to pay such bonds, the properofficers of such county, city, township or school district may use suchfunds to purchase or pay any of such bonds and cancel the same, wheneverthey can be so purchased or paid at or below par, or at such reasonableprice above par as may be requested by a majority of the resident taxpayersof such county, city, township or school district, and which request may bemade by a written petition to that effect, directed to such officers.

      History:   L. 1905, ch. 72, § 1; March 21; R.S. 1923, § 10-1006.