Page:United States Statutes at Large Volume 48 Part 1.djvu/1030

 1004 73d CONGRESS. SESS. II. CH. 592. JU NE 18, 1934 . [CHAPTER 592 .] AN ACT June 18, 1934. 111. R. 9371 .] To authorize the incorporated town of Douglas City, Alaska, to undertake certain [Public, No. 399.] municipal public works, including construction, reconstruction, enlargement, extension, and improvements of its water-supply system ; and construction, reconstruction, enlargement, extension, and improvements to sewers, and for such purposes to issue bonds in any sum not exceeding $40,000. Be it enacted by the Senate and House of Representatives of the Douglas city, United States o f Anerica in Congress assembled, That the incorpo- Ala ska. May issue bonds for rated town of Douglas City, Alaska, is hereby authorized and certain public works. empowered to undertake the municipal public works herein specified and for such purposes to issue bonds in any sum not exceeding $40,000 . Said town is hereby authorized and empowered to con- struct, reconstruct, enlarge, extend, and improve its water-supply system and for such purpose to issue bonds in any sum not exceeding $25,000 ; to construct, reconstruct, enlarge, extend, and improve sewers and for such purpose to issue bonds in any sum not exceeding $15,000 . Special election to SEC. 2 . That before said bonds shall be issued a special election authorize. shall be ordered by the common council of the said town of Douglas City, at which election the question of whether such bonds shall be issued in the amounts above specified for either or both of the purposes hereinbefore set forth shall be submitted to the qualified electors of said town of Douglas City whose names appear on the last assessment roll of said town for municipal taxation. The form of the ballot shall be such that the electors may vote for or against the issuance of bonds for each of the purposes herein specified in the a mount s her ein autho rized. Not less than twen ty da ys' n otic e of such election shall be given by posting notices of the same in three conspicuous places within the corporate limits of the town of Douglas City, Alaska, one of which shall be at the front door of the United States post office. The registration for such election, Conduct of election. the manner of conducting the same, and the canvass of the returns of said el ection shall be, a s near ly as practic able, in acc ordanc e with the requi rements o f law in general o r special election s in said munici- pality, and said bonds shall be issued for either or both of the purposes herein authorized only upon condition that not less than a majority of the votes cast at such election in said town shall be in favor of the issuance of said bonds for such purpose. in form ; denomination Bonds to be .coupon coupon SEC. 3. Such bonds shall be coupon in form, may bear such date maturity, etc° or dates, may be in such denomination or denominations, may mature in such amounts and at such time or times, not exceeding thirty years from the date thereof, may be payable in such medium of payment and at such place or places, may be sold at either public Redemption. or pr ivate sale, ma y be redee mabl e. with or without premium, or nonredeemable, and may carry such registration privileges as to either principal and interest, principal only, or both, as shall be prescribed by the common council of said town of Douglas City at the time such bonds are authorized to be issued. The bon ds shall bear the signatures of the mayor and clerk of the town of Douglas City, and shall have impressed thereon the official seal of said town. In case any of the officers whose signatures or counter- signatures ; validity. signatures appear on the bonds shall cease to be such officers before delivery of such bonds, such signatures or countersignatures shall neverth eless be val id and suffi cient for all purpo ses th e same as if they had remained in office until such delivery. Said bonds shall bear interest at a rate to be fixed by the common council of the said town of Douglas City, not to exceed 6 per centum per annum, payable semiannually, and the bonds shall be sold at not less than the pri ncipal amoun t ther eof pl us acc rued in terest.