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ART. 3. On motion of Robert P. Clapp, article 3 was brought
<br />before the house.
<br />- Under this article Mr. Clapp offered the following motion
<br />Voted that the Board of Water and Sewer Commissioners is here-
<br />by authorized and instructed to proceed, under the provisions of
<br />Chapter 504 of the Acts of 1897, as amended by Chapter 359 of the
<br />Acts of 1906 and Chapter 201 of the Acts of 1911, to lay out, con-
<br />struct and establish a sewerage system, constructing initially, sewers
<br />to substantially the extent indicated in the Commissioners printed
<br />report of May 1, 1911 ; and that for said purpose there is hereby
<br />appropriated such sum as may be necessary, not exceeding one
<br />hundred and ninety-eight thousand dollars ($198,000) exclusive of
<br />the premium receipts, if any, on the bonds below mentioned, the
<br />money to be raised by issuing registered bonds of the town in de-
<br />nominations of five hundred dollars or multiples thereof, bearing in-
<br />terest payable semi-annually at such rate not exceeding five per cen-
<br />turn per annum as the Selectmen may determine, both principal and
<br />interest to be payable in gold coin of the United States of the pres-
<br />ent standard of weight and fineness. There shall be one series of
<br />bonds (the same to be designated an their face "Lexington Sewerage
<br />Loan—First Series") amounting in the aggregate principal sum to not
<br />more than sixty-six thousand dollars ($66,000) ; and another series
<br />(the bonds therein to be designated on their face "Lexington Sew-
<br />erage Loan—Second Series") amounting in the aggregate principal
<br />sum to not more than one hundred and thirty-two thousand dollars
<br />($132,000.) None of said bonds shall mature more than thirty-
<br />three years from the earlist date of issue of any of them; and to the
<br />end that the town instead of establishing a sinking fund, may make
<br />provision for such annual payments as will extinguish the entire loan
<br />within said period, the bonds shall be made payable as hereinafter
<br />provided; Those of the First Series shall all bear the same date,
<br />and be payable two thousand dollars ($2000) annually, beginning in
<br />one year from date of issue. Those of the second series shall all
<br />bear the same date (which may be the same as or later than the
<br />date of the First Series) and shall be payable twelve thousand
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<br />dollars ($12,000) annually beginning in one year from date of issue,
<br />save that the latest maturing instalment thereof may be of a less
<br />amount; provided however, that there shall be reserved to the town
<br />in each of the bonds of the Second Series the right to call and
<br />redeem such bond on any interest day before maturity, after thirty
<br />day's written notice mailed to the registered holder thereof. The
<br />Town Treasurer is hereby authorized to cause said bonds to be pre-
<br />pared and executed in said form and with such terms and provisions
<br />therein and with such requirements as to their certification, not in
<br />conflict with the tenor of said acts and of this vote, as the Selectrnen
<br />shall approve, and to sell the same at such price or prices not below
<br />the par value thereof, and at such times, as he and the Selectmen
<br />shall think best.
<br />The Treasurer is also authorized hereby, in anticipation of the
<br />moneys to be derived from the sale of said bonds, to make a tem-
<br />porary loan or loans for a term not exceeding one year, and to
<br />• execute with the approval of the Selectmen the notes of the town
<br />therefor either with or without security, and also to pledge any or
<br />all of said bonds at not less than their par value as collateral security
<br />for any such loan or loans.
<br />Mr. Clapp also offered the following motion : "That when the
<br />vote is taken on the motion just offered, it be by ballot, and with
<br />the use of the check list." And the meeting so voted unanimously
<br />after considerable discussion over the idea of dividing the first
<br />motion offered by Mr. Clapp. Clarence H. Cutler offered a motion
<br />to divide the motion of Mr. Clapp, so that the town first consider
<br />the question of the construction of a sewer, and secondly, the issuing
<br />of bonds. This division was opposed, and after much discussion
<br />Mr. Cutler withdrew his motion to divide the question. Argument
<br />in favor of the original motion was started by Mr. Clapp at 8.48
<br />o'clock. Willard C. Hilt, John J. Donovan, Dr. Fred S. Piper,
<br />Elwyn G. Preston and James P. Munroe spoke in support of the
<br />motion. Rev. Samuel Knowles, Clarence H. Cutler, William
<br />Spaulding, Charles E. Wheeler, Daniel F. Hutchinson, Patrick
<br />Flynn and Arthur E. Horton opposed the motion.
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