ROBERT M. McLANE, ESQUIRE, GOVERNOR.

91

SEC. 143i. That for the purpose of defraying the

cost and expenses of laying out or improving the

streets, highways, squares, alleys, drains and water

courses of said town, the mayor and council are

empowered and required to borrow money not to

Empowered
and required to

exceed twenty thousand dollars, on the faith and credit

borrow money.

of the town, as hereinafter provided, which shall be

known as the special improvement fund, and warrants

for the expenditure of the same shall be drawn by the

board of street commissioners as provided in section

one hundred and twenty-four.

SEC. 143j. The mayor and council are hereby

authorized and required to issue bonds in such denom-

inations as they may determine. Said bonds to be

signed by the mayor and attested by the clerk to the

mayor and council, with the seal of the town- attached,

and registered in a book to be kept by the said clerk,

and to bear interest at the rate of four per centum

Mayor and

per annum, payable on the first days of January and

council to deter-
mine denomi-

July, in each and every year, until the principal of

nations.

said bonds is paid. Said bonds to be sold at public

auction at such times and in such amounts as shall be

required of the mayor and council by the board of

street commissioners, provided the whole amount of

said bonds issued shall not exceed twenty thousand

dollars as aforesaid. Said bonds shall not be liable to

county or municipal taxation.

SEC. 143k. There shall be levied by the mayor and

council, annually, for three years, an amount sufficient

to pay the interest on the bonds so issued. At the

expiration of three years there shall be levied, annually,

by the mayor and council, an amount sufficient to pay

Levy to pay

the interest on the debt, and one thousand dollars of

interest.

the principal thereof, and the mayor and council shall

thereafter pay, annually, one thousand dollars of the

principal of said debt, and the said bonds, when issued,

shall be made to fall due so as to be payable as herein

provided.

SEC. 1431. Said bonds, when signed by the mayor

and attested by the clerk as provided in section one

hundred and forty-three j, shall be handed over to the

Bonds to be

tax collector, who shall receipt for the same, which

handed over to
tax collector.

receipt shall be filed and safely kept by the clerk to

the mayor and council, and bond of tax collector shall

be responsible, for the safe keeping by the tax collector,

of said bonds and the proceeds thereof. The tax