Page:United States Statutes at Large Volume 52.djvu/630

 52 STAT.] 75TH CONG. , 3D SESS.-CHS. 297, 298-MAY 31, 1938 tion, and the reservation of a roadway sixty feet wide under the tenth section of the Act of May 14, 1898, entitled 'An Act extending the homestead laws and providing for right of way for railroads in the District of Alaska, and for other purposes', shall not apply to mineral lands or town sites." Approved, May 31, 1938. [CHAPTER 298] AN ACT To authorize public-utility districts in the Territory of Alaska to incur bonded indebtedness, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That public-utility districts in the Territory of Alaska, organized under the laws of said Territory, are hereby authorized to construct, improve, extend, better, repair, reconstruct, acquire, and operate any and all types of public utilities and improvements under and in accordance with and to the full extent provided by the laws of said Territory relating to public- utility districts in said Territory, and to incur bonded indebtedness and to issue negotiable bonds for any or all of said purposes: Pro- vided, however, That no public utility district shall incur bonded indebtedness or issue its negotiable bonds under this Act to an amount which shall exceed 10 per centum of the aggregate value of the real and personal property within such public-utility district sub- ject to taxation by such district. SEC. 2. No bonded indebtedness shall be incurred by any public- utility district in the Territory of Alaska unless the proposal to incur such indebtedness be first submitted to the qualified electors of such district whose names appear on the last tax-assessment roll or record of such district for purposes of district taxation, at an election called for such purpose, and not less than 65 per centum of the votes cast at such election shall be in favor thereof. Not less than twenty days' notice of any such election shall be given by posting notices of the same in three conspicuous places within the district, one of which shall be posted at the front door of the United States post office therein, if there be a United States post office within such district. The registration for such election, the manner of conducting the same, the form of ballot, and the canvass of the returns shall be prescribed by the governing body of such district, SEC. 3. Bonds issued pursuant to this Act shall bear such date or dates, may be in such denominations, may mature in 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 public or private sale, may be redeemable (either with or without premium) or nonredeemable, may carry such registration privileges as to either principal and interest or principal only, and may be executed by such officers and in such manner as shall be prescribed by the governing body of the district 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 if 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 district issuing the same, not to exceed, however, 6 per centum per annum, payable semiannually. All such bonds shall be sold for not less than the principal amount thereof plus accrued interest. 589 Reservation of road- way. 30 Stat. 413. May 31 1938 [H. R. 7827] [Public, No. 563] Alaska. Public-utility dis- tricts authorized to incur bonded indebt- edness for construc- tion, operation, etc. Proiso. Limitation on amount. Submission and ap- proval provisions. Notice of election. Registration, ballot, etc. Bonds; denomina- tions, maturity, etc. Interest rate.

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