Page:United States Statutes at Large Volume 49 Part 1.djvu/348

 74 TH CONGRESS. SESS.I. CH. 153 . MAY 28, 1935 . 303 [CHAPTER 153 .) AN ACT May 28, 19 35 . To authorize the inco rpor ated town of Val dez, Ala ska, to cons truc t a public- 	[a .R . 6723 .) school building and for such purpose to issue bonds in any sum not exceeding [Public, No. 79 .E $30,000 ; and to authorize said town to acc ept grants of money toaiditin fi nancing any publ ic works. Be it enacted by the Senate and House of Representatives o f the United States o f America in Congress assembled, That the incorpo- rated town of Valdez, Territory of Alaska, is hereby authorized and empowered to construct. a public-school building, and for such pur- pose to issue bonds in any amount not exceeding the sum of $30,000. Suc. 2 . Before said bonds shall be issued a special election shall be orde red by the common council of the said town of Va ldez, Alaska, at which election the question of whether such bonds shall be issued in the amount above specified for the purpose hereinbef ore set forth shall be submitted to the qualified electors of said town of Val dez, A laska, whose names appea r on t he las t asse ssment roll of said town for purposes of municipal taxation. The f orm of the ballot shall be such that the electors may vote for or against the issuance of bonds for the purpose herein specified in the amount herein authorized. Not less than twenty days notice of such election shall be given to the public by posting notices of the same in three conspicuous places within the corporate limits of the town of Valdez, Alaska, one of which shall be at the front door of the United States post office at Valdez, Alaska. The election notice shall specifically state the amount of bonds proposed to be issued for the purpose herein specified. The registration for such election, the manner of conducting the same, and the canvass of the returns of said election shall be, as nearly as practicable, in accordance with the require- ments of law in general or special elections in said municipality ; and said bonds shall be issued for the purpose herein authorized only upon condition that not less than a majority of the votes cast at such election in said municipality shall be in favor of the issuance of said bonds for such purpose. SEC. 3. The bonds herein authorized shall be coupon in form and shall mature in no t to e xceed thirty years from the da te the reof. Such bonds may bear such date or dates, may be in such denomina- tion or denominations, may matu re 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 nonredeemable or redeemable (either with or w ithout premium), and may carry such registration privileges as to either principal and interest, prin- cipal only, or bo th, as shall be pr escrib ed by the co mmon c ouncil of said town of Valdez. The bonds shall bear the signatures of the mayor and of the clerk of the town of Valdez, and shall have impressed thereon the official seal of said municipality. The cou- pons 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, said 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 bonds shall bear interest at a rate to be fixed by the common council of the town of Valdez, not to exceed, however, 6 per centum per annum, payable semiannually, and said bonds shall be sold at not less than the principal amount plus accrued interest. 'aldez, Alaska. May issue bonds for public-s chool construc- tion . Special election to auth orize. Notice. Conduct of el ection. Bonds ; form, matu- rity dates, etc . Signatures. Interest rate.