Page:United States Statutes at Large Volume 48 Part 1.djvu/636

 610 Cha rac ter , etc., of bonds . Validity of signa- tures, etc. Interest rate, etc. Bonds deemed mu- nicipal obligations. Use of funds restrict- ed. Sale limitations. Contracts with Uni- ted States for bond sale, etc . Ante, p. 200. 73d C ONGRESS. SESS. II. CH. 162. APRIL 25, 1934. or special elections in said municipality, and said bonds shall be issued for any or all of the purposes herein authorized only upon condit ion tha t not less th an a ma jority of the votes cast a t such elec- tion in said city shall be in favor of the issuance of said bonds for such purpose. SEC. 3. Such bonds shall be coupon in form, may bear such date or dates, may be in such denom ination or de moninations I-, may matur e in such amounts and at such time or times, not exceeding thirty years from the date thereof, may be payable in such medium of pay- ment and at such place or places, may be sold at eit her public or private sale, may be redeem able, with or without premi um, or non- redeemable, may carry such registration privileges as to either prin- cipal and interest, principal only, or both, as shall be prescribed by the common council of said city of Juneau at the time such bonds are authorized to be issued. The bonds shall bear the signatures of the mayor and clerk of the city of Juneau, and shall have impressed thereon the official seal of said city. In case any of the officers whose signatures or countersignatures appear on the bonds shall cease to be such officers before delivery of such bonds, such signatures or countersignatures shall nevertheless be valid and sufficient for all purposes the same as if they had remained in office until such deliv- ery. Said bonds shall bear interest at a rate to be fixed by the com- mon council of the said city of Juneau, not to exceed 6 per centum per annum, payable semiannually, and the bonds shall be sold at not less than the principal amount thereof plus accrued interest. SEc. 4. The bonds herein authorized to be issued shall be general obligations of said city of Juneau, payable as to both interest and principal from ad valorem taxes which shall be levied upon all the taxa ble prop erty wit hin the corp orat e li mits of said cit y of Jun eau in an amount sufficient to pay the interest on and principal of such bonds as and when the same become due and payable. SEc. 5. No part of the funds arising from the sale of said bonds shall be used for any purpose or purposes other than those specified in this Act. Said bonds shall be sold only when and in such amounts as the common council of the city of Juneau shall direct, and the proceeds thereof shall be disbursed for the purposes hereinbefore mentioned and under the orders and directions of said common council from time to time as the same may be required for said purposes. SEc. 6. The city of Juneau is hereby authorized to enter into con- tracts with the United States of America or any agency or instru- mentality thereof, under the provisions of the National Industrial Recovery Act and Acts amendatory thereof and Acts supplemental thereto, and revisions thereof, and the regulations made in pursuance thereof, and under any further Acts of the Congress of the United States to encourage public works, for the sale of bonds issued in accordance with provisions of this Act or for the acceptance of a grant of money to aid said town in financing any public works herein authorized ; or to enter into contracts with any person or corpora- tion, public or private, for the sale of such bonds ; and such con- tracts may contain such terms and conditions as may be agreed upon by and between the common council of said city of Juneau and the United States of America or any agency or instrumentality thereof or any such pu rchaser. Approved, April 25, 1934. iSo in original.