Page:United States Statutes at Large Volume 46 Part 1.djvu/1054

 SEVENTY-FIRST CONGRESS. SEss. II. CHs. 857, 858 . 1930. 1011 a schedule satisfactory to said Secretary ; and no water from the Use of water from y Sa int Mary River re- Saint Mary River watershed shall be furnished for the irrigation of strl cted until contra ct lands within any district after the irrigation season of 1930 until ex ecu ted' the required contract has been duly executed ." SEC . 2 . All con tracts with th e Gove rnment touchin g the p roject tr c~iformity of con- shall be uniform as to time of payment and charge for the construc- tion of the Saint Mary diversion . Approved, July 3, 1930 . July 3, 1930. CHAP . 858 .-An Act To authorize the incorporated town of Ketchikan,	[H. R. 9707.1	Alaska, to issue bonds in any sum not to exceed $1,000,000 for the purpose of [Public, No . 531.1 acquiring public utility properties, and for other purposes . Be it enacted by the Senate and House of Representatives of the U nited States o America in Congress as sembled, That the incor- Ketehikan, Alaska . f 7 Bond issue auth or- porated town of Ketchikan, Alaska, is hereby authorized and ized for acquiring prop- erti es of Citiz ens Li ght, em powered to is sue its bonds in any sum not to exc eed $1, 000,000 Power and Water Com- for the purpose of acquiring for the said town of Ketchikan the pany- pu blic ut ility propert ies of the Cit izens L ight, P ower an d Water Company and to finance and operate the same by the municipality of Ketchikan : Provided, however, That no issue of bonds or other Pro vis o. instruments of any such indebtedness shall be made, other than Restrictions. such bonds or other instruments of indebtedness in serial form maturing in substantially equal annual installments, the first install- ment to mature not later than five years from the date of the issue o f such ser ies and th e last ins tallment n ot later t han thirty years from the date of such issue. SEC. 2 . That befo re said bo nds shall be issued a special e lection . Electors t o dec ide shall be ordered by the common council of the town of Ketchikan, issue of bonds . at which ele ction the question of whether s uch bonds shall be i ssued sh all be submit ted to the qua lified elector s of th e said town of Ke tchikan whose names appear on the last as sessmen t roll of said town for municipal taxation. Thirty days' notice of such election Notice of election. sh all be given by publ ication thereo f in a newspap er prin ted and p ublish ed and of gene ral cir culatio n in sa id town before the da y fixed for such election. SEC. 3 . That the registration of such election, the manner of con- inManner of conduct- ducting the same, and the canvass of the returns of said election shall be, as near as practicable, in accordance with the requirements of law in general or special elections in said municipality, and said agF a vorabl d fornssue bonds shall be issued only upon condition that not less than 65 per of bonds. c entum of the votes cast at such electi on in said town sha ll be in favor of issuing said bonds. SEC. 4 . That the bonds above specified, when authorized to be Interest rate, et c. issued as hereinbefore provided, shall bear interest, at a rate to be fixed by the common council of Ketchikan, not to exceed 6 per c entum per ann um, pay able se miannua lly and shall not be sold fo r less than their par value, with accrued interest, and shall be in Denomination, etc. d enomin ations not exc eeding $1,000 each, t he prin cipal t o be du e in thirty years from date thereof : Provided, however, That the com- Rghtos io pay off mon council of the said town of Ketchikan may reserve the right numerically, may be to pay off such bonds in their numerical order, at the rate of not reserved. less than $22,000 thereof per annum from and after the expiration of five years from their date. Principal and interest shall be pay- Place of payment. able in lawful money of the United States of America at the office of the town treasurer or such place as may be designated by the common council of the town of Ketchikan, the place of payment to be mentioned in the bonds : And provided further, That each and

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