Page:United States Statutes at Large Volume 49 Part 1.djvu/335

 290 74 TH CONGRESS. SESS. I. CH. 143 . MAY 24, 1935 . and alleys, and for such purpose to issue bonds not exceeding $12,000 ; (d) to construct, reconstruct, enlarge, extend, and improve its side- walks, curbs, and gutters, and for such purpose to issue bonds not exceeding $20,770 ; and (e) to construct a municipal building, and for such purpose to issue bonds not exceeding $17,230. Special election. SEC. 3. Before said bonds shall be issued a special election shall be ordered by the common council of the said city of Nome, Alaska, at which election the question of whether such bonds shall be issued in the amount specified for any or all of the purposes hereinbefare set forth shall be submitted to the qualified electors of said city of Nome, Territory of Alaska, whose names appear on the last assessment Form of ballot. roll of said city for purposes of 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 Nonce. amounts herein authorized. Not less than twenty days' notice of such election shall b e given to the p ublic by posting notice s of the same in three conspicuous places within the corporate limits of the city of Nome, Territory of Alaska, one of which shall be at the front door of the United States post office at Nome, Alaska. The election notice shall specifically state the amount of bonds proposed to be issued Cond uct of elect ion . for each of the purposes herein specified. The registration for such election, the manner of conducting the same, and the canvass of the returns of said election shall b e, as ne arly as practic able, in accord- ance with the requirements of law in general for special elections in said municipality ; and said bonds shall be issued for any or all of the purposes herein authorized only upon condition that not less than a m ajority of the v otes cas t at suc h electi on in s aid muni cipality shall be in favor of the issuance of said bonds for such purpose or purposes. Bonds ; form, matu- SEC. 4. The bonds herein authorized to be issued shall be coupon rity, etc' in form and shall mature in not to exceed thirty years from the date thereof. Such bonds may bear such date 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 or private sale, may be no nredee mable or red eemabl e (eit her wi th or withou t prem ium), may carry su ch regis tration privileg es as to either princip al and i nterest, principal only, or both, as sha ll be prescribed by the common sign atures. council of said city of Nome. The bonds shall bear the signatures of the mayor and of the clerk of the city of Nome, and shall have impressed thereon the official seal of said municipality. The coupons to be annexed to such bonds shall bear the facsimile signatures of the mayor and of the clerk of said municipality. 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, whether manual or facsimile, shall nevertheless be valid and sufficient for all purposes, the same as if said officers had remained in office until such delivery. Said interest rate. bonds shall bear interest at a rate to be fixed by the common council of the city of Nome, not to exceed, however, 6 per centum per annum, sale pace. payable semiannually, and said bonds shall be sold at not less than the principal amount thereof plus accrued interest. Bonds deemed mu- SEC. 5 . The bonds herein authorized to be issued shall be general mcipal obliga tions. obligations of the city of Nome, Territory of Alaska, payable as to both interest and principal from ad valorem taxes which shall be levied upon all of the taxable property within the corporate limits of such municipality in an amount sufficient to pay the interest on