1898-Annual Report - Laserfiche WebLink

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45 On motion of H. S. Teele that the sum of $2,875.00 be appropriated for the purpose named the town voted "No." ART. 3. To see if the town will incur indebtedness under the provisions of Chapter 504 of the Acts of 1897 entitled, "An Act to authorize the town of Lexington to construct a system of sewerage," and borrow money for the payment of the neces- sary expenses and liabilities to be incurred under said Act; and to authorize the issuing of bonds or notes for money so bor- rowed. Also to authorize and provide for the sale or use of such bonds and notes and to act in any other manner relative to a sewerage loan, including the making of provision for payment, thereon. ART. 4. To appropriate and raise moneys to be expended for or in connection with, the laying out and construction of a sys- tem of sewers and drains. ART. 5. To make provision in any manner authorized by law for payment of any loan that shall be authorized uuder said Chapter 504 of the Acts of 1897, and if such provision should be made by establishing a sinking fund, to elect commissioners of such sinking fund as authorized by Chapter 29 of the Public Statutes. ARTS. 3, 4 AND 5. Mr. Robert P. Clapp for the board of .sewer commissioners, made a verbal report on the system, .explaining the system and giving information on the subject and the matter was discussed by Messrs. Mitchell, Sampson and Alderman. Mr. Charles M. Parker moved the acceptance of the aeport, which was voted. On motion of Mr. George, W. Sampson, amended by Mr. Cornelius Wellington, it was 46 Voted, That a committee consisting of the sewer commis- sioners be appointed to meet at once and devise some means. to amend Chapter 504 of the Acts of 1897, with some refer- ence to an equitable adjustment of the valuations of estates in apportioning the cost thereof for sewerage purposes and. to report at the next town meeting. On a motion of Mr. Charles M. Parker to indefinitely postpone the whole matter, the house was polled with the following result :—in favor of indefinite postponement 24, opposed 40, and it was lost. Mr.:R. P. Clapp moved the adoption of the following vote :— Toted, That the sum of one hundred thousand ($100,- 000) dollars is hereby appropriated for the purpose of pay- ing the necessary expenses and liabilities incurred and to be incurred under Chapter 504 of the Acts of 1897, entitled, " An act to authorize the town of Lexington to construct a system of sewerage," and that for the purpose of raising said sum, bonds of the town be issued under the provisions of said chapter, and pursuant to this vote, to the aggregate principal sum of one hundred thousand ($100,000) dollars in denominations of one thousand dollars each, bearing in terest, payable semi-annually at such rate, not exceeding five per cent. per annum, as the selectmen may determine, such bond to be dated August 1,1898, and to be payable as here- inafter provided. Both the principal and interest shall be payable in gold coin of the United States, of the present standard of weight and fineness. Forty of such bonds shall be payable on the first day of August in the year 1908, thirty-five shall be payable on the first day of August in the year 1918, and the remaining twenty-five shall be payable on the first day of August in the year 1938.