Page:United States Statutes at Large Volume 57 Part 1.djvu/258

 57 STAT.] 78TH CONG. , IST SESS.-CH. 175-JUNE 28, 1943 [CHAPTER 175] AN ACT To authorize the incorporated city of Anchorage, Alaska, to purchase and improve the electric light and power system of the Anchorage Light and Power Com- pany, Incorporated, an Alaska corporation, and for such purpose to issue bonds in the sum of not to exceed $1,250,000 in excess of present statutory debt limits. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the incor- porated city of Anchorage, Alaska, is hereby authorized and em- powered to purchase and acquire from Anchorage Light and Power Company, Incorporated, a corporation organized and existing under the laws of the Territory of Alaska, any or all of the electric light and power properties owned by said corporation, including electric cur- rent, light and power plants and systems, and all or any part of the property, both real and personal, rights, claims, easements, interests, and equities connected therewith, and to reconstruct, extend, and improve the same, and for such purposes to issue bonds in an amount not exceeding $1,250,000, the same to be in excess of the present statutory debt limit of said city as provided by the Act entitled "An Act to authorize municipal corporations in the Territory of Alaska to incur bonded indebtedness, and for other purposes", approved May 28, 1936 (49 Stat. 1388): Provided, That no more than $1,000,000 of the proceeds of the sale of said bonds may be used for purposes of purchasing and acquiring such properties. Nothing herein shall be so construed as to prevent or preclude the said city from incurring other indebtedness up to, but not beyond the limits prescribed by said Act of May 28, 1936, without regard to the bonded indebtedness herein authorized. SEC. 2. Before said bonds shall be issued, a special election shall be ordered by the common council of the said city of Anchorage, Alaska, at which election the question of whether such indebtedness should be incurred and such bonds shall be issued in any amount not exceeding $1,250,000 for the purposes hereinbefore set forth, shall be submitted to the qualified electors of said city whose names appear on the last assessment roll of record of said city for purposes of municipal taxation. The form of the ballot shall'be such that such electors may vote for or against the issuance of bonds in any amount not exceeding $1,250,000 for the purposes herein specified. Not less than twenty days' notice of such election shall be given by posting notices of the 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 in said city. The election notice shall state the date of said election, shall describe the polling place or places, and the times the same will be open, and shall state that bonds of said city in any amount not exceeding $1,250,000 are proposed to be issued for the purposes herein specified. The registra- tion for such election, the manner of conducting the same, and the canvass of the returns of said election shall be, as nearly as prac- ticable, in accordance with the requirements of law for general or special elections in said city. Such bonds shall be issued to raise money for the purposes herein authorized only upon condition that not less than 55 per centum of the votes cast at such election in said city shall be in favor of the issuance of said bonds for such purpose. SEC. 3. The bonds herein authorized shall be coupon bonds, shall be negotiable instruments for all purposes, and shall bear such date or dates, be in such denomination or denominations, mature in such amounts and at such time or times, not exceeding thirty years from the date thereof, be payable at such place or places, and be sold at either public or private sale, be redeemable or nonredeemable before 245 June 28, 1943 [H. R. 338] [Public Law 98] Anchorage, Alaska. Bond issue for pur- chase of designated public utility. 48U.S.0. §§44a- 44e. Special election. Form of ballot. Notice of election. Registration, etc. Percentage of favor- able votes required. Form and maturity of bonds.

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