Section 72.
The indebtedness of Falls City shall never in the aggregate exceed ten per cent of the total assessed valuation of the assessable property therein, and in any debt or liability incurred in violation of this section, whether borrowing money, loaning the credit of the city, or otherwise, is null and void, and of no effect. Any councilman voting to incur any liability or to create any debt in excess of the amount limited by this section, any liability sought to be incurred or debt created in excess of the amount listed or authorized by this act, shall be taken and held by any court of this State as a joint and several liability and obligation of the members of the city council voting for the same, and no debt, liability, or obligation of the city, and the voting for or creating such liability, obligation or debt shall be conclusive evidence of malfeasance in office, for which such members of the council may be removed from office. (N. B. : This is as amended by the Legislative Assembly of the State of Oregon. Filed in the office of the Secretary of State February 3, 1905. Codifier.)