THEODORE R. MCKELDIN, GOVERNOR 1287

means, or to make or sell pools within the corporate limits
of the Town of Aberdeen, on the result of any race or
event of any kind, and any person, partnership or corpora-
tion violating the provisions of this section shall be guilty
of a misdemeanor.

18. The Commissioners shall have authority to incur
indebtedness not exceeding five percent (5%) of the
assessed value of all property within the corporate limits,
in excess of the annual revenue of the Town, and shall,
whenever any such debt is created, provide for the pay-
ment thereof by the issuing of certificates of indebtedness,
bonds or notes, at such rate of interest as the Commis-
sioners may deem advisable, which shall be payable within
twenty (20) years, in the discretion of said Commissioners;
provided, however, that no such debt shall be incurred and
no such bonds, notes or 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 provide in said ordinance for submitting
the question of 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 pre-
ceding 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 bonds, notes or certificates
of indebtedness so specified.

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

20. The Commissioners of Aberdeen shall not enter into
any contract for material and labor, or for material or
labor of One Thousand Dollars ($1, 000), or more without
obtaining and calling for two (2) or more competitive bids.