HomeMy WebLinkAbout912.2 Act of the Massachusetts legislature "To authorize the Town of Lexington to refund a portion of its debt," January 1896 HOUSE No. 249.
[Accompanying petition of selectmen of Lexington. Towns.]
tommonroeal#h of $flassarquat#s.
In the Year One Thousand Eight Hundred and Ninety-six.
AN ACT
To authorize the Town of Lexington to refund a portion of
its debt.
-Be it enacted" by she Senate and House of Representatives
m General Court assembled, and by the authority of the
,same, as follows
1 SECTION 1. The town of Lexington is hereby author-
2 ized to issue from time to time bonds, notes or scrip to
3 an amount not exceeding one hundred thousand dollars
4 for the purpose of refunding an equal amount of bonds
5 of said town as they become due, denominated 1' Lexing-
6 ton water bonds," dated November one, eighteen hundred
7 and ninety-five, and issued under the authority of a vote
8 passed by the town October twenty-eight, eighteen hun-
9 dred and ninety-five.
10 The bonds, notes or scrip issued under the provisions
11 of this act shall be payable not more than twenty years
2 TOWN OF LEXINGTON. [Jan. T6.
12 from the date of issue, and shall bear interest at a rate
13 not exceeding six per cent. per annum. They shall be
14 signed by the treasurer and countersigned by the select-
15 men of the town and may be sold or negotiated at public
16 or private sale upon such terms and conditions and in
17 such manner as said town may deem proper.
1 SECT. 2. For the purpose of providing for the pay-
2 went of said bonds said town shall not be required to
3 establish a sinking fund under the provisions of chapter
4 twenty-nine of the public statutes, but instead thereof c
5 shall raise by taxation each year in which any of said
6 bonds are to become due a sufficient amount to meet the
7 payment thereof and appropriate the same for that
8 purpose.
1 SECT. 3. This act shall take effect upon its passage.
HOUSE No. 249.
[Accompanying petition of selectmen of Lexington. Towns.]
tomtnonmcalth of Alassathusetts.
In the Year One Thousand Eight Hundred and Ninety-six.
AN ACT
To authorize the Town of Lexington to refund a portion of
its debt.
Be it enacted by the Senate and House of Representatives
in General Court assembled, and by the authority of the
same, as follows
1 SECTION 1. The town of Lexington is hereby author-
2 ized to issue from time to time bonds, notes or scrip to
3 an amount not exceeding one hundred thousand dollars
4 for the purpose of refunding an equal amount of bonds
5 of said town as they become due, denominated 11 Lexing-
6 ton water bonds,"dated November one, eighteen hundred
7 and ninety-five, and issued under the authority of a vote
8 passed by the town October twenty-eight, eighteen hun-
9 dred and ninety-five.
10 The bonds, notes or scrip issued under the provisions
11 of this act shall be payable not more than twenty years
i'
2 TOWN OF LEXINGTON. [Jan. '96.
12 from the date of issue, and shall bear interest at a rate
13 not exceeding six per cent. per annum. They shall be
14 signed by the treasurer and countersigned by the select-
15 men of the town and may be sold or negotiated at public
16 or private sale upon such terms and conditions and in
17 such manner as said town may deem proper.
y
1 SECT. 2. For the purpose of providing for the pay-
2 ment of said bonds said town shall not be required to
3 establish a sinking fund under the provisions of chapter
4 twenty-nine of the public statutes, but instead thereof
5 shall raise by taxation each year in which any of said
6 bonds are to become due a sufficient amount to meet the
7 payment thereof and appropriate the same for that
8 purpose.
1 SECT. 3. This act shall take effect upon its passage.