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80-907. Same; tax levy for sinking fund; limitation. Any township, or townships, issuing bonds under this act shall annually levy a tax sufficient to pay the interest thereon, and after five years an amount sufficient to create a sinking fund to pay the principal at maturity; and any township, or townships, purchasing or acquiring or acting as trustee for grounds for a park or parks, or cemetery or cemeteries, is empowered and authorized to annually levy and collect a tax, not exceeding in any one year two mills on the dollar, to provide a fund for the purpose of meeting the annual expense of such grounds.

History: L. 1923, ch. 241, ยง 3; March 3; R.S. 1923, 80-907.


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