CHAPTER 57. An Act to Authorize the Town of Amherst to Borrow Be it enacted by the Governor, Council, and Assembly, as follows:- borrow. 1. The Town of Amherst is hereby authorized to Power to borrow on the credit of the town such sums of money, not exceeding ten thousand dollars in the whole, as may be required for the purpose of defraying any expenditures heretofore incurred by the town on capital account in connection with the school system of the town, the public hospital therein, the fire department, of the town, permanent street extension and improvement, and the balance not required for such purposes to expend in such further street extension and improvement of a permanent character, or for fire or school purposes, as the council may from time to time determine. 2. For the purpose of effecting any loans under the Debentures. authority of this act the council is empowered to make and issue, subject to the provisions of "The Municipal Debentures Act, 1902," at any one time or from time to time as the council may deem expedient, the town's debentures each in the sum of one hundred dollars or multiples thereof, bearing interest at such rate as the council shall determine, not exceeding however five per centum per annum, said debentures to be redeemable within such period not exceeding thirty years from the date thereof as the council may determine. 3. The council of the town shall annually add to the estimates to be rated each year upon the town for general purposes, a sum sufficient to pay the annual interest accruing upon the moneys borrowed under the authority of this Act, and such sums shall be rated and Sinking fund, collected in the same manner and with the same remedies as the other rates and taxes in said town. 4. In order to provide a sinking fund for the payment of the debentures authorized to be issued under this act, the town council shall annually include in the estimates of the sums required for the purposes of the said town such sums as may by resolution be determined by the said Council, not however to be less than two per cent of the amount which may be borrowed from time to time under the provisions of this act, and such sums shall be rated and collected in the same manner and with the same remedies as other rates and taxes. Town meeting 5. Inasmuch as the ratepayers of the said town not necessary. have, in manner by law provided, already authorized the borrowing of the said sum hereby authorized, it shall not be necessary to convene any additional meeting of the said ratepayers as a condition precedent to the borrowing of said money, or any part thereof, or the issuing of said debentures or the doing of any matter or thing by this Act authorized. CHAPTER 58. An Act to Enable the Town of Amherst to Borrow Power to borrow, Be it enacted by the Governor, Council, and Assembly as follows: 1. The town of Amherst is authorized to borrow from time to time on the credit of the town, such sums of money not exceeding thirty thousand dollars in the whole (in addition to the sums which the town " has heretofore been empowered to borrow for like purposes) for the purposes set forth in section 1 of chapter 112 of the acts of 1906, and the other acts relating to the water works system of the said town, and generally for the purpose of extending and inproving said system, including any expenditures heretofore incurred on capital account in connection with the said system. 2. For the purpose of effecting any loans under Debentures. the authority of this act, the town is empowered to make and issue, subject to the provisions of "The Municipal Debentures Act, 1902, at any one time or from time to time as the council may deem expedient, the town's debentures, each in the sum of one hundred dollars or multiples thereof, bearing interest at such rate as the council shall determine, not exceeding however five per centum per annum, said debentures to be redeemable within such period not exceeding thirty years from the date thereof as the council may determine. provided. 3. The council of the town shall annually add to Interest, the estimates to be rated each year upon the town for general purposes, a sum sufficient to pay the annual interest accruing upon the moneys borrowed under the authority of this act, and such sums shall be rated and collected in the same manner and with the same remedies as the other rates and taxes in said town. how 4. In order to provide a sinking fund for the pay- Sinking fund. ment of the debentures authorized to be issued under this act, the town council shall annually include in the estimates of the sums required for the purposes of the said town, such sums as may by resolution be determined by the said council, not however to be less than two per cent. of the amount which may be borrowed from time to time under the provisions of this act, and such sums shall be rated and collected in the same manner and with the same remedies as other rates and taxes. 5. Inasmuch as the ratepayers of the said town have, in manner by law provided, already authorized the borrowing of the said sum hereby authorized, it Town meeting not necessary. shall not be necessary to convene any additional meeting of the said ratepayers as a condition precedent to the borrowing of said money, or any part thereof, or the issuing of said debentures or the doing of any matter or thing by this act authorized. CHAPTER 59. An Act to Authorize the Town of Amherst to Borrow ized to borrow certain purposes. Be it enacted by the Governor, Council, and Assembly, as follows: Town author- 1. The town of Amherst is hereby authorized to $10,000 for borrow on the credit of the town such sums of money, not exceeding ten thousand dollars in the whole, as may be required for the purpose of extending the sewerage system of the town and to defray any expenditures heretofore incurred on capital account in connection with said sewerage system. Interest and outlay, how met. Town empowered tures. to Any outlay incurred by the town under this act, including the annual interest on the debentures. auhtorized to be issued, shall be met as provided by section 3 of chapter 114 of the acts of 1906, the whole of which section shall apply to all moneys expended under this act and to the rating and assessing of the same and the interest thereon. 3. For the purpose of effecting any loans under issue deben the authority of this act, the town is empowered to make and issue subject to the provisions of "The Municipal Debentures Act, 1902" at any one time or from time to time as the council may deem expedient, the town's debentures, each in the sum of one hundred dollars or multiples thereof, bearing interest at such rate as the council shall determine, not exceeding however five per centum per annum, said debentures to be redeemable within such period not exceeding thirty years from the date thereof as the council may determine. 4. The council of the town shall annually add to the estimates to be rated each year upon the town for general purposes, a sum sufficient to pay the annual interest accruing upon the moneys borrowed under the authority of this act, and such sums shall be rated and collected in the same manner and with the same remedies as the other rates and taxes in said town. Interest to be provided for. not necessary. 5. Inasmuch as the ratepayers of the said town Town meeting have, in manner by law provided, already authorized the borrowing of the said sum hereby authorized, it shall not be necessary to convene any additional meeting of the said ratepayers as a condition precedent to the borrowing of said money, or any part thereof, or the issuing of said debentures or the doing of any matter or thing by this act authorized. to be payable instalments. 6. Notwithstanding the provisions of section 29 Frontage tax, of chapter 91 of the acts of 1902, all frontage tax pay-in ten annaul able under the provisions of said chapter 91, or any subsequent acts providing for the extension of the said sewerage system (including this act), unpaid on the 31st day of December, 1909, shall be and become payable in ten yearly installments of one-tenth each, beginning with the year 1910, together with interest on all unpaid portion of said tax at five per centum per annum. Each of said installments of said frontage tax, with said interest, shall be payable annually at the date fixed by the town council under section 89 of the assessment act for the payment of the general rates and taxes of the town, and the council shall have (in addition to the remedies provided by the sewerage act) the like remedies for the collection of said installments and interest as are provided by the assessment act for such general rates and taxes. |