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Session Laws, 1941
Volume 582, Page 1847   View pdf image (33K)
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HERBERT R. O'CONOR, GOVERNOR. 1847

chase or erect a Sewerage Disposal System and/or an Incin-
eration Plant, or a combination of both, for the City and the
vicinity, and to issue bonds therefor. The amount of bonds
to be issued under the authority of this act shall be no greater
than is necessary in the judgment of the Mayor and City Coun-
cil to purchase or erect a Sewerage Disposal System and/or
an Incineration Plant.

ELECTION AND BOND ISSUE FOR SAID PLANTS

SEC. 119. In the event said loan or loans are approved for
the purchase or erection of an Electric Light and Power Plant,
transmission and distribution system, Sewerage Disposal Sys-
tem and/or an Incineration Plant, as hereinafter provided,
the bonds shall be issued by the Mayor and City Council for
the purposes aforesaid in such denominations and on such
terms as the Mayor and City Council may deem wise; and
such bonds shall be exempt from all Federal, State and County
and Municipal taxations and shall have printed on them a
distinct reference to the Act authorizing their issue and shall
be known as the Municipal Electric Light and Power Bonds,
the Sewerage Disposal System and/or Incineration Plant
Bonds, as the ease may be, and the proceeds from the sale of
said bonds shall be used exclusively for either the purchase
or erection of a Municipal Electric Light and Power Plant,
transmission and distribution system, a Sewerage Disposal
System and/or an Incineration Plant for said City and
vicinity.

SEC. 120. Before any bonds shall be issued under the author-
ity herein granted in Sections 117 and 118, the question of
the erection or purchase, as the case may be, of an Electric
Light and Power Plant, transmission and distribution system,
a Sewerage Disposal System and/or an Incineration Plant for
the City shall first be submitted to the legally qualified voters
of the City at a regular municipal or special election called
for that purpose, notice of said election to. be given by adver-
tisement in two newspapers, if so many be published in
said City, at least twenty days prior to said election, said
notice setting forth the time, place and purpose of said elec-
tion, and no bond shall be issued hereunder unless at said
regular or special election, a majority of the legally quali-
fied voters of the City voting on the question shall vote in
favor of the purchase or erection, as the case may be, of
an Electric Light and Power Plant, transmission and dis-
tribution system, a Sewerage Disposal System and/or an
Incineration Plant for the City. If the majority of the
voters disapprove any such proposition or propositions, the
Mayor and City Council shall abandon the same and no similar

 

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Session Laws, 1941
Volume 582, Page 1847   View pdf image (33K)   << PREVIOUS  NEXT >>


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