Page:United States Statutes at Large Volume 49 Part 1.djvu/718

 74TH CONGRESS. SESS. I. CH. 598. AUGUST 21, 1935. 673 be sold at either public or private sale, may be nonredeemable or redeemable (either with or without premium), and may carry such registration privileges as to either principal and interest, or principal only, a s shall be presc ribed by the com mon coun cil of s aid town of Cordova. The bonds shall bear the signatures of the mayor and of Sign atur es. the clerk of the town of Cordova, 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 municipalit . In case any of the officers whose sig- natures or countersignatures' appear on the bo nds shal l cease to be such off icers before delivery of su ch bonds, sai d signatures or counter- signatures, 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 interest rate. t o be fixed by the common council of the town of Cordova, not to excee d, howev er, 6 pe r centum per ann um, paya ble semi annually, and said bonds shall be sold at not less than the principal amount plus acc rued int eres t. SeC. 4. The bonds herein authorized to be issued shall be general niBo nds deemed s. mmu - obligations of the town of Cordova, 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 std .of funds re_ 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 Sale l imit atio n. a s the common council of the town of Cordova shall direct ; and the proceeds thereof shall be distributed only for the purposes herein- bef ore ment ioned an d under the orde rs and d irection of said common council from time to time as such proceeds may be required for said purposes. SEC. 6. The town of Cordova is hereby authorized to enter into contracts authorized with Un ited St ates, f or contracts with the United States of America or any agency or instru- bond sale. mentality thereof under the provisions of the National Industrial Vol.48,pp.200,351. 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 relief of unemployment, or for any ot her public pur pos e, inc lud ing the Eme rge ncy Relief Ante, p. 115. Appropriation Act of 1935, for the sale of bonds issued in accordance with the provisions of this Act, or for the acceptance of a grant of money to aid said municipality in financing any public works enter into contracts with any persons or corporations, public or private, for the sale of such bonds ; and such contracts may contain such terms and conditions as may be agreed upon by and between the common council of said town of Cordova and the United States of A merica or any agency or instr ument ality thereo f, or any s uch purchaser. SEC. 7. The Act approved April 12, 1930, to authorize the incor- vol. 4s, P. isl, re pealed. porated town of Cordova, Alaska, to issue bonds for the construction of a trunk-sewer system and a bulkhead or retaining wall, and for other purposes (Public, Numbered 18 1, Seventy-first Congress, second session, 46 Stat. 161), is hereby repealed. Approved, August 21, 1935. 1 So in original. 1040 19• -36 	43
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