Unlawful to receive deposits or create debts when condition. CHAPTER XLVII. BANKS AND BANKERS-LIABILITIES OF. AN ACT making officers of banking institutions responsible for the reception of deposits or the creation of debts, when such bank is insolvent or in a failing condition. Be it enacted by the Legislature of the State of Kansas: SECTION 1. It shall be unlawful for any president, direcbank is in failing tor, manager, cashier, or other officer of any banking institution, to assent to the reception of deposits or the creation of debts by such banking institution, after he shall have had knowledge of the fact that it is insolvent or in failing circumstances; and it is hereby made the duty of every such officer, agent or manager of such banking institution to examine into the affairs of the same, and, if possible, know its condition. And upon failure of any such person to discharge such duty he shall, for the purpose of this act, be held to have had knowledge of the insolvency of such bank, or that Penalty for vio- it was in failing circumstances. Every person violating the provisions of this section shall be individually responsible for such deposits so received, and all such debts so contracted: Provided, Any director who may have paid more than his share of the liabilities mentioned in this section may have the proper remedy at law against such other persons as shall not have paid their full share of such liabilities. lation of act. Who may be joined as defendants. Private bankers and others included in act. SEC. 2. In all suits brought for the recovery of the amount of any deposits received or debt so created, all officers, agents, or managers of any such banking institutions, charged with having so assented to the reception of such deposit, or the creation of such debt, may be joined as defendants or proceeded against severally; and the fact that such banking institution was so insolvent or in failing circumstances at the time of the reception of the deposit charged to have been so received, or the creation of the debt charged to have been so created, shall be prima facie evidence of such knowledge and assent to such deposit or creation of such debt on the part of such officer, agent or manager so charged therewith. SEC. 3. The foregoing sections shall also apply to private bankers, their officers, managers and agents; and for the pur poses of this act, persons who carry on the business of banking by receiving money on deposit, with or without interest, buying and selling bills of exchange, promissory notes, gold or silver coin, bullion, uncurrent money, bonds or stocks, or other securities, and of loaning money without being incorporated, shall be deemed private bankers. SEC. 4. This act shall extend to and may be enforced by and against executors and administrators of such deceased officers, agents and managers. SEC. 5. This act shall be in full force and effect from and after its publication in the Daily Commonwealth. Approved March 12, 1879. I hereby certify that the foregoing is a true and correct copy of the original enrolled bill now on file in my office, and that the same was published in the Daily Commonwealth, March 15, 1879. JAMES SMITH, Secretary of State. CHAPTER XLVIII. NOT TO RECEIVE DEPOSITS OR CREATE DEBTS WHEN IN AN ACT providing for the punishment of officers of banking institutions, Be it enacted by the Legislature of the State of Kansas: the same as for SECTION 1. If any president, director, manager, cashier, or Punishment, other officer of any banking institution, or any private banker stealing. or officer of a private bank doing business in this state, shall receive or assent to the reception of any deposit of money or other valuable thing in such bank or banking institution, or if any such banker, officer or agent shall create or assent to the creation of any debts or indebtedness by such bank or banking institution, in consideration or by reason of which indebtedness any money or valuable property shall be received into such bank or banking institution, after he shall have had knowledge of the fact that it is insolvent or in failing circum stances, he shall be deemed guilty of larceny, and upon conviction thereof shall be punished in the manner and to the same extent as is provided by law for stealing the same amount of money deposited, or valuable thing, if loss occur by reason of such deposit. SEC. 2. This act shall be in full force and effect from and after its publication in the Daily Commonwealth. Approved March 12, 1879. I hereby certify that the foregoing is a true and correct copy of the original enrolled bill now on file in my office, and that the same was published in the Daily Commonwealth, March 18, 1879. JAMES SMITH, Secretary of State. Purpose for which bonds may be issued. Amount not to exceed five per CHAPTER XLIX. SCHOOL-DISTRICT BONDS. AN ACT providing for the issuance of school-district bonds, and repealing article 13, chapter 122, laws of 1876; section 5, chapter 124, laws of 1874; chapter 124, laws of 1876; and chapter 44, laws of 1877. Be it enacted by the Legislature of the State of Kansas: cent. of taxable in the last assessment thereof. property. SECTION 1. That for the purpose of erecting or purchasing one or more school houses in and for any school district in the state of Kansas, the board of directors of the same shall have power to issue the bonds of the district, in an amount not to exceed five per cent. of its taxable property, as shown And for the And for the purpose of extending the time of payment of the bonded indebtedness of any school district, the board of directors of the same shall have power to issue the bonds of the district in a sum not to exceed in amount its outstanding bonded indebtedness: Election called. Provided, That no such bonds shall be issued until, at an election called for that purpose, the question shall have been submitted to the qualified electors of the district, and a majority of all the qualified electors in the district shall have declared by their votes in favor of issuing the same: And provided further, That no such election shall be ordered when. sented. unless a petition, stating the purpose for which the bonds Petition preare to be issued, and signed by at least one-third of the qualified electors of said district, and in no case less than ten qualified electors of said district, shall have been presented to the district board praying that a vote be taken for the issuing of such amount of bonds as may be asked for therein: And provided further, That it shall be unlawful for any school district to create any bonded indebtedness unless there are at least twenty-five persons between the ages of five and twentyone years actually residing within the limits thereof, as shown by a sworn census return, taken by the direction of the board of directors of such school district. Number of school children requisite before bond ed indebtedness is created. when petition duty of district is presented, board. posted up. SEC. 2. Whenever such a petition, so signed, shall be presented to the board of directors of any school district, praying that a vote be taken on the question of issuing the bonds of the said district, it shall be the duty of the district board immediately to order an election for the purpose of determining the question of the issuing of the bonds as prayed for, and forthwith to give notice by posting up written or printed Election notices notices, signed by the clerk, in five of the most public places in the district, which notices shall be posted up at least ten days before such election, and shall state therein the object for which the election was called, and the manner in which the question shall be voted upon. The said election shall be conducted in all respects as are general elections under the laws of the state, except that females of the age of twenty- Females may one years shall be entitled to vote at all such elections, sub- only to the reject only to the exceptions applied to males; and the returns plied to males. of the election shall be the same, except that they shall be made to the district board. vote, subject strictions ap of bonds. Rate of interest, and when pay able. SEC. 3. The bonds herein provided for shall be issued in Denomination denominations of not less than one hundred dollars nor more than five hundred dollars each; they shall bear interest at a rate not to exceed seven per cent. per annum, payable semi-annually on the first days of January and July of each year, at such place as shall be designated in the bonds, the principal of the bonds being made payable within fifteen years from their date. These bonds shall specify on their face the date of issue, amount, for what purpose, and to whom issued, the time they run, the rate and times of payment of interest, and shall have coupons attached for the interest as it becomes due, said coupons being so arranged that the last one shall fall due at the time of the maturity of the bond. Said bonds and the coupons thereto attached shall be signed by the director and countersigned by the clerk, and after registration by the county clerk shall be negotiable and transferable by How disposed of delivery, and may be disposed of by the district board at not less than ninety-five cents on the dollar, and the proceeds of the same applied as provided for in the petition at which issuance of the bonds was authorized. Bonds to be registered. SEC. 4. Before delivering any school-district bonds, the board of directors of the district issuing the same shall cause them to be registered with the clerk of the county in which the said district is located. And it shall be the duty of the county clerk, on presentation of any school bonds for registry, to register the same in a book prepared for that purpose; which register shall contain-first, the number of the district; second, the number of the bond; third, date of bond; fourth, to whom payable; fifth, when [where] payable; sixth, when due; seventh, when interest is due; eighth, amount of bond. The county clerk shall furnish one copy of his register to the county treasurer, and forward one copy to the state superintendent, together with a statement showing: First, and state super- the number of sections of land in the district issuing such bonds; second, the number of acres of land assessed and subject to taxation in said district; third, the assessed valuation of taxable lands; fourth, the assessed valuation of all personal property in such district; which statement shall be signed by each member of the school board issuing the bonds, and the county clerk shall certify under the official seal of his office to the correctness of the statement and the genuineness of the signatures attached thereto. Statement to county treasurer intendent, show what. Annually levy tax to pay interest and provide sinking fund. Sinking fund, how invested. SEC. 5. It shall be the duty of the board of county commissioners of each county to levy, annually, upon all the taxable property in each district in such county a tax sufficient to pay the interest accruing upon any bond issued by such district, and to provide a sinking fund for the final redemption of the bonds, 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 their final payment at maturity: Provided, That moneys in the hands of the county treasurer belonging to the sinking funds of the several school districts in |