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Session Laws, 1943
Volume 584, Page 1563   View pdf image (33K)
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HERBERT R. O'CONOR, GOVERNOR. 1563

whenever any such debt is created, provide for the pay-
ment thereof by the issuing of certificates of indebtedness
at such rate of interest as the Commissioners may deem
advisable, which shall be payable within twenty (20) years,
in the discretion of said Commissioners; provided, how-
ever, that no such debt shall be incurred and no such
certificates of indebtedness issued except as follows: The
Commissioners, shall, by ordinance passed by yeas and
nays, specify the particular purpose or purposes for which
the indebtedness is to be created, the amount, the rate of
interest and the manner of payment; they shall then pro-
vide in said ordinance for submitting the question of the
the creation of such debt to the resident taxpayers of the
Town at a special municipal election to be called by the
Commissioners for that purpose, notice of which shall be
published in some newspaper of general circulation therein
once a week for two weeks next preceding such election;
the notice and publication shall recite the ordinance and
describe the indebtedness to be created. The ballots shall
be printed "for the Debt", and "Against the Debt". If
two-thirds of the resident taxpayers of the Town voting
at such election, shall vote in favor of the debt, and not
otherwise, the Commissioners may incur such debt and
issue the amount of certificates and indebtedness so
specified.

19. The Commissioners may issue certificates of indebt-
edness, bearing interest not to exceed in amount the annual
revenue of the Town, less the amount of all sinking funds
previously provided for; said certificates and interest to be
paid only from such revenue and within one year from the
date of their issue; and such certificates may be issued in
pursuance of an ordinance duly passed without submitting
the question to a vote of the taxpayers.

20. The Commissioners shall have the same powers as
the State Board of Health of this State, restricted, how-
ever, to the limits of the Town.

21. The Commissioners shall keep and annually publish
a tabular statement of the receipts and expenditures of the
funds of the corporation, and such other matters connected
with the government and regulations of the Town affairs
as they may deem necessary and proper.

22. All ordinances heretofore passed by the Commis-
sioners of Aberdeen under the provisions of the Charter
existing before the passage of this Act shall remain in

 

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Session Laws, 1943
Volume 584, Page 1563   View pdf image (33K)
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