Page:United States Statutes at Large Volume 49 Part 1.djvu/560

 74Tf3 CONGRESS. SESS. I. CH. 434. AU GUST 3, 1935 . 515 be issued in the amount above specified for the purpose hereinbefore set forth shall be submitted to the qualified electors of said city of Anchorage, Alaska, whose names appear on the last assessment roll of said ci ty for pur poses of m unicipal t axation. The form of Ballot. the ballot shall be such that the electors may vote for or against the issu ance of bo nds for th e purposes herein sp ecified up to the amount herein authorized. Not less than twenty days' notice of such n otice. election shall be given to the public by posting notices of same in three conspicuous places within the corporate limits of the city of Anchorage., Alaska, one of which shall be at the front door of the United States post office at Anchorage, Alaska. The election notice statement in. shall specifically state the amount of bonds proposed to be issued for the herein s ecified. The registration for such election Registration for elec- purpose p T tion ; canvass of re- the mann er of cond ucting the same, and the canva ss of the returns turns. of said elec tion shall be, a s nearly as pra cticable, in ac cordance with the requirements of law in general or special elections in said munic- ipality ; and such bonds shall be issued for the purposes 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 au thorized s hall be co upon in fo rm and Bonds ; form ; matu. shall mature in not to exceed thirty years from the date thereof. rity date. Such bonds may bear such date or dates, may be in such denomination l)enominations . or denominations, may mature in such amounts and at such time or times, not exceeding thirty years from the date thereof, may be pay- able in such medium of payment and at such place or places, may be sold at eith er p ublic or priv ate sale, may be nonr edee mabl e or rede em- Re gist rat ion pr ivi- able (either with or without premium), and may carry such registra- leges. tion privile ges as to either principal and interest, or pr incipal only, as shall be prescribed by the common council of said city of Anchor- age . The bonds shall bear the signatures of the mayor and of the Signatu res . clerk of the city of Anchorage, and shall have impressed thereon the offi cial sea l of said mun icip alit y . The coupons to be annexed to coupons. such bonds shall bear the facsimile signatures of the mayor and of the clerk of said municipality . In case any of the officers whose validi ty of signa- signatures or countersignatures appear on the bonds shall cease to be tures. such officers before delivery of such bonds, said signatures or counter- signatures, whether manual or facsimile, shall nevertheless be valid and sufficient for all purposes, the same as if said officers had re- mained in office until such delivery. Said bonds shall bear interest Bonds ; interest rate. at a rate to be fixed by the common council of the city of Anchorage, not to exceed, however, 6 per centum per annum, payable semi- annually, and said bonds shall be sold at not less than the principal amount plus accrued interest. SEC. 4 . The bonds herein authorized to be issued shall be general Issue payment . obligations of the city of Anchorage, 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 and the 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 restricFunds from sale of; 1 arisin g ,i on on other shall be used for any purpose or purposes other than those specified uses- in this Act. Said bonds shall be. sold only when and in such amounts as the common council of the city of Anchorage shall direct ; and the proceeds thereof shall be distributed only for the purposes here- inbefore mentioned and under the orders and direction of said common c ouncil fro m time to time as su ch proceed s may be r equired for said purposes.