Page:United States Statutes at Large Volume 49 Part 1.djvu/1433

 1 388 Coinage laws appli- cable. May 28, 1936. [H.R.8766.1 [Public, No. 626.1 Al aska. Municipal, corpora- tions aut horized t o in- cur bonded indebted- ness for public works, etc. Proviso. Li mitatio n on amount. Work included. Submission and ap- proval provisions. Notice of election. R egistratio n, ballot , etc. Bonds ; form, matu- ritre, denominations, etc. Interest rate. 74mx CON GRES S. SESS. II. CHS. 466, 467. MAY 28,1936. SEC. 3. All laws now in forc e relating to the subsidia ry silver coins of the United States and the coining or striking of the same, regulating and guarding the process of coinage, providing for the purchase of material, and for the transportation, distribution, and redemption of coins, for the prevention of debasement or counter- f eiting, for the securit y of th e coins, or for any oth er purp oses, whether such laws are penal or otherwise, shall, so far as applicable, apply to the coinage herein authorized. Approved, M ay 28, 1936. [CHAPTER 467 .] AN ACT To au thorize municipal corporations in th e Territory of Alaska to incur bonde d indebtedness, and for other purpose s. Be it enacted by the Senate and House o f Representatives o f the United States o f America in Congress assembled, That municipal cor porations in the Terri tory of Alaska are her eby authorized to construct, improve, extend, better, repair, reconstruct, or acquire p ublic wo rks of a perma nent ch aracter and to incur bonded indebtedness and issue negotiable bonds for any or all of such purposes : Provided, however, That no municipal corporation shall incur a bonded indebtedness or issue its negotiable bonds under this Act to an amount which, including existing bonded indebtedness shall exceed 10 per centum of the aggregate taxable value of the real and personal property within the corporate limits of such municipal corporation. Such public work shall include but not be limited to streets, bridges, wharves and harbor facilities, sewers and sewage-disposal plants, municipal buildings, schools, libraries, gymn asia and athletic fields, fire houses, and public utilities. SEC. 2. No bonded indebtedness shall be incurred by any municipal corporation in the Territory of Alaska unless the proposal to incur such indebtedness be first submitted to and approved by not less than 65 per centum of the qualified electors of such municipal corporation whose names appear on the last tax assessment roll or record of such municipality for purposes of municipal taxation. Not less than t wenty da ys' not ice of a ny such electio n shall be give n by po sting notices of the same in three conspicuous places within the corporate limits of such municipal corporation, one of which shall be posted at the front door of the United States Post Office therein. The r egistrat ion for such el ection, the man ner of conducti ng the same, the form of ballot, and the canvass of the returns shall be prescribed by the governin g body of such municip ality. SEC. 3 . Bonds issued pursuant to this Act shall bear such date or date s, may b e in su ch denom ination s, may mature i n such amounts and at such time or times, not exceeding thirty years from the date thereof, may be payable at such place or places, may be sold at either public or private sale, may be redeemable (either with or without premium) or nonredeemable, may carry such registration privile ges as t o eithe r princi pal and intere st, or p rincipa l only, and may be executed by such officers and in such manner, as shall be prescribed by the governing body of the municipality issuing the bonds. In case'any of the officers whose signatures appear on the bonds or coupons shall cease to be such officers before delivery of such bonds, such signatures, whether manual or facsimile, shall nevertheless, be valid and sufficient for all purposes, the same as i such officers had remained in office until such delivery. The bonds so issued shall bear interest at a rate to be fixed by the governing body of the municipality issuing the same, not to exceed, however, 6