Page:United States Statutes at Large Volume 45 Part 1.djvu/427

 376 SEVENTIETH CONGRESS. SEss. I. CHs. 269, 270. 1928. municipal taxation. Thirty days' notice of such election shall be given by publication thereof in a newspaper printed and published and of general circulation in said town before the day fixed for such election. Conduct of election. SEC. 3. That . the registration for such election, the manner of con- ducting the same, and the. canvass of the returns of said election shall be, as nearly as practicable, in accordance with the requirements of law in general or special elections in said municipality, and said bonds shall be issued only upon condition that not less than 65 per centum of the votes cast at such election in said town shall be in Interest rate, sale, favor of issuing said bonds. etc . SEC. 4. That the bonds above specified, when authorized to be issued as hereinbefore provided, shall bear interest at a rate to be fixed by the common council of the town of Seward, not to exceed 7 per centum per annum, payable semiannually, and shall not be sold for less than their par value, with accrued interest, and shall be in Rede-r•3. tion. denominations not exceeding $1,000 each : Provided, however, That edemp the common council of the said town of Seward may reserve the right to pay off such bonds in their numerical order at the rate of Payment of principal $4,000 thereof per annum from and after the expiration of five and inter est. years from their date of issue. Principal and interest shall be pay- able in lawful money of the United States of America at the office of the town treasurer of the town of Seward, or at such bank in the city of New York, in the State of New York, or such place as signatures and se a, may be designated by the common council of the town of Seward, required . the place of payment to be mentioned in the bonds : Provided further, That each and every bond shall have the written signature of the mayor and clerk of said town of Seward and also bear the seal of Use of funds re- said town. stricted. SEC. 5 . That no part of the funds arising from the sale of said sale of bonds . bonds shall be used for any purpose other than specified in this Act. Said bonds shall be sold only in such amounts as the common council shall direct, and the proceeds thereof shall be disbursed for the purposes hereinbefore mentioned and under the order and direc- tion of said common council from time to time as the same may be required for said purposes. Approved, March 28, 1928. March 28, 192 8. [n. R. 340.1 CHAP. 270 .-An Act To authorize the incorporated town of Anchorage, [Public, No. 202.1 Alaska, to issue bonds for the construction and equipment of an additional school building, and for other purposes. Be it enacted by the Senate and House o f Representatives o f the Anchorage, May issue bonds for f United States of America in Congress assembled, That the incorpo- additional school build- rated town of Anchorage, Alaska, is hereby authorized and em- ing. powered to issue its bonds in any sum not to exceed $100,000 for the purpose of constructing and equipping an additional school building Form, •, etc ., of bonds. i n said town : Provided, however, That no issue of bonds or other in- stru ment s struments of any such indebtedness shall be made, other than such bonds or other instruments of indebtedness in serial form maturing in su bstant ially equal annual insta llments, the first instal lment to mature not later than five years from the date of the issue of such series, and the last installment not later than thirty years from the date of such issue. Spe cia l election to authorize. 2 . That before said bonds shall be iss ued a s pecial elect ion . shall be ordered by the common council of the town of Anchorage, at which election the question whether such bonds shall be issued shall be submitted to the qualified electors of said town of Anchorage. Thirty days' notice of any such election shall be given by publication

�