1898-Annual Report - Laserfiche WebLink

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47 The town treasurer is hereby authorized to cause said bonds to be prepared and executed, in such form and with such stipulations not in conflict with the provisions of said Chapter or of this vote, as the selectmen shall approve, and to sell the same at such price or prices not below par value, and at such tines, as he and the board of sewer com- missioners shall think best. The treasurer is also authorized hereby, pending the sale of said bonds or any of them, to borrow on the note or notes of the town, secured by a pledge of such bonds as collateral security, such sums of money as may be requested from time to time by said board of sewer commissioners for carrying out the purposes of said Chapter, provided that no bonds shall be pledged at less than the par value thereof. All sums so borrowed on notes with bonds pledged as col- lateral shall be temporary loans payable not later than Oct. lst, 1900, with interest payable semi-annually at such rate, not exceeding five per cent. per annum, as the selectmen may determine. All such bonds and notes shall bear on their face the words "Lexington Sewerage Loan," and shall be signed by the treasurer and countersigned by a majority of the select- men. All premiums received from the sales of bonds shall be added to said appropriation and be applied according to the provisions of Section 11 of said Chapter 504. And voted further, that a sinking fund for the payment and redemption of such sewerage loan be established in ac- cordance with the provisions of Chapter twenty-nine of the Public Statutes and all laws applicable thereto ; and that there be elected at this meeting by ballot a board of three commissioners of such sinking fund, whose terms of office shall be respectively one, two and three years, reckoned from the annual meeting held in March, 1898, and each year 48 hereafter there shall be elected at the annual town meeting one such commissioner for the term of three years, as;pro- vided in the Public Statutes. It was voted that the vote on the foregoing be taken by ballot and that the check list be used. On ballot with the use of the check list, the whole number of votes cast was '91 : "No" 37 ; "Yes" 54. It was moved and carried to proceed to the election of sinking fund commissioners by ballot, all on one ballot with the use of the check list. On ballot votes were cast as follows : For Three Years, MAMMON REED, 29. A. M. REDMAN, 1. For 'Iwo Years, GEORGE 0. SMITH, 30. For One .Year, IRVING STONE, 28. H. A. C. WOODWARD, 1. GEO. W. SPAULDING,'1. And Hammon Reed was elected for three years, George O. Smith for two years and Irving Stone for one year. On motion of Mr. R. P. Clapp it was Voted, That when this meeting adjourns, it be to Wednes- day, June 1, 1898, at 7.30 o'clock, P. M.