Public Law 74–143

That the corporate

Nome, Alaska.

Corporate existence of, recognized, etc.

existence and present boundaries of the city of Nome, Alaska, a municipal corporation of the Territory of Alaska, second judicial division, are hereby recognized, ratified, and confirmed; and the same shall not be open to question in any court of law on the ground of destruction of records or otherwise.

Sec. 2.

That the incorporated city of Nome, Territory of Alaska,

Bond issues authorized.

is hereby authorized and empowered to undertake the municipal public works hereinafter specified or any one or more thereof, and for such purposes to issue bonds in any amount not exceeding in the aggregate the sum of $100,000. Said city of Nome, Alaska, is hereby authorized and empowered (a) to construct, reconstruct, enlarge, extend, and improve its sewers and drains, and for such purpose to issue bonds in any sum not exceeding $15,000; (b) to construct, reconstruct, enlarge, extend, and improve its fire-fighting system, and for such purpose to issue bonds not exceeding $35,000; (c) to construct, reconstruct

Purposes.

enlarge, extend, and improve its streets and alleys, and for such purpose to issue bonds not exceeding $12,000; (d) to construct, reconstruct, enlarge, extend, and improve its sidewalks, curbs, and gutters, and for such purpose to issue bonds not exceeding $20,770; and (e) to construct a municipal building, and for such purpose to issue bonds not exceeding $17;230.

Sec. 3.

Before said bonds shall be issued a special election shall be ordered by the common council of the said city of Nome, Alaska, at which election the question of whether such bonds shall be issued in the amount specified for any or all of the purposes hereinbefore set forth shall be submitted to the qualified electors of said city of Nome, Territory of Alaska, whose names appear on the last assessment

Form of ballot.

roll of said city for purposes of municipal taxation. The form of the ballot shall be such that the electors may vote for or against the issuance of bonds for each of the purposes herein specified in the

Notice.

amounts herein authorized. Not less than twenty days’ notice of such election shall be given to the public by posting notices of the same in three conspicuous places within the corporate limits of the city of Nome, Territory of Alaska, one of which shall be at the front door of the United States post office at Nome, Alaska. The election notice shall specifically state the amount of bonds proposed to be issued

Conduct of election.

for each of the purposes herein specified. The registration for such election, the manner of conducting the same, and the canvass of the returns of said election shall be, as nearly as practicable, in accordance with the requirements of law in general for special elections in said municipality; and said bonds shall be issued for any or all of the purposes herein authorized only upon condition that not less than a majority of the votes cast at such election in said municipality shall be in favor of the issuance of said bonds for such purpose or purposes.

Sec. 4.

The bonds herein authorized to be issued shall be coupon in form and shall mature in not to exceed thirty years from the date thereof. Such bonds may bear such date or dates, may be in such denomination or denominations, may mature in such amounts and at such time or times, not exceeding thirty years from the date thereof, may be payable in such medium of payment and at such place or places, may be sold at either public or private sale, may be nonredeemable or redeemable (either with or without premium), may carry such registration privileges as to either principal and interest, principal only, or both, as shall be prescribed by the common

Signatures.

council of said city of Nome. The bonds shall bear the signatures of the mayor and of the clerk of the city of Nome, and shall have impressed thereon the official seal of said municipality. The coupons to be annexed to such bonds shall bear the facsimile signatures of the mayor and of the clerk of said municipality. In case any of the officers whose signatures or countersignatures appear on the bonds shall cease to be such officers before delivery of such bonds, such signatures or countersignatures, whether manual or facsimile, shall nevertheless be valid and sufficient for all purposes, the same as if said officers had remained in office until such delivery. Said

Interest rate.

bonds shall bear interest at a rate to be fixed by the common council of the city of Nome, not to exceed, however, 6 per centum per annum,

Sale price.

payable semiannually, and said bonds shall be sold at not less than the principal amount thereof plus accrued interest.

Sec. 5.

The bonds herein authorized to be issued shall be general obligations of the city of Nome, Territory of Alaska, payable as to both interest and principal from ad valorem taxes which shall be levied upon all of the taxable property within the corporate limits of such municipality in an amount sufficient to pay the interest on and the principal of such bonds as and when the same become due and payable.

Sec. 6.

No part of the funds arising from the sale of said bonds

Use of proceeds of sales.

shall be used for any purpose or purposes other than those specified in this Act. Said bonds shall be sold only when and in such amounts as the common council of the city of Nome shall direct; and the proceeds thereof shall be distributed only for the purposes hereinbefore mentioned and under the orders and directions of said common council from time to time as such proceeds may be required for said purposes.

Sec. 7.

The city of Nome is hereby authorized to enter into contracts

Contracts with United States for bond sale.

Vol. 48, p. 195.

with the United States of America or any agency or instrumentality thereof under the provisions of the National Industrial Recovery Act and Acts amendatory thereof and Acts supplemental thereto, and revisions thereof, and the regulations made in pursuance thereof, and under any further Acts of the Congress of the United States to encourage public works, for the sale of bonds issued in accordance with the provisions of this Act or for the acceptance of a grant of money to aid said municipality in financing any public works herein authorized; or to enter into contracts with any persons or corporations, public or private, for the sale of such bonds; and such contracts may contain such terms and conditions as may be agreed upon by and between the common council of said city of Nome and the United States of America or any agency or instrumentality thereof or any such purchaser.

Sec. 8.

This Act shall take effect immediately.