street to Coggeshall avenue, including resetting curb, repairing and building new catch-basins and eyes. interest and The representative council of said city shall Payment of annually appropriate the sum necessary to pay the principal. interest on such bonds so issued and the principal thereof as the same become due. SEC. 2. This act shall take effect upon its passage. CHAPTER 518. AN ACT AUTHORIZING AND EMPOWERING THE REPRE- It is enacted by the General Assembly as follows: H 567. City of Newport exempt certain property from SECTION 1. The representative council of the city of Newport is hereby authorized and empowered to exempt from taxation for a term of two years, com- taxation. mencing June 15, 1923, all the real and personal property of the Old Colony Railroad Company and the New England Steamship Company, located within the city of Newport. SEC. 2. This act shall take effect upon its passage. CHAPTER 519. AN ACT AUTHORIZING AND EMPOWERING THE REPRE- It is enacted by the General Assembly as follows: SECTION 1. The representative council of the city of Newport is hereby authorized and empowered to H 566 A. Approved April 18, 1923. City of authorized to property from taxation. exempt from taxation for a period not exceeding ten exempt certain years, such manufacturing property, real and personal, as may hereafter be located in said city in consequence of such exemption, and the land on which such property is located. H 788. Approved April 28, 1923. State board of public roads Town to pay $10,000 into state treasury. SEC. 2. This act shall take effect upon its passage. CHAPTER 520. [2405] AN ACT MAKING AN APPROPRIATION FOR THE RECON- PAY ONE-HALF THE COST THEREOF. It is enacted by the General Assembly as follows: SECTION 1. The sum of twenty thousand dollars or so much thereof as may be necessary, be, and the same hereby is appropriated out of any money in the treasury not otherwise appropriated to be expended by the state board of public roads for the purpose of constructing or reconstructing a certain highway in the town of North Kingstown beginning at the junction of what is known as the Post road and what is known as the Ten Rod road, thence extending in an easterly direction upon said Ten Rod road to the intersection with Brown street in the village of Wickford; and the state auditor is hereby authorized and directed to draw his orders upon the general treasurer for the payment of said sum or so much thereof as may from time to time be required upon receipt by him of vouchers approved by the chairman and secretary of the state board of public roads; provided, however, that no part of the sum herein appropriated shall be available for expenditure until the town of North Kingstown shall have paid to the general treasurer for the use of the state the sum of ten thousand dollars. constructed to Highway when become a part highway SEC. 2. When said highway shall have been constructed by the state board of public roads it shall of the state become a state highway and thereafter shall be main- system. tained by the state as a part of the constructed system of state highways. balances, to be general reimbursed. SEC. 3. Whenever said board shall complete the Unused construction or reconstruction of said highway, said recovered into board shall certify to the state auditor that said treasury, and highway has been completed, and any balance remaining of the amount herein appropriated shall be recovered into the general treasury and the state auditor shall then draw his orders upon the general treasurer in favor of the town of North Kingstown for one-half of such balance remaining and recovered into the general treasury, which sum is hereby appropriated out of any money in the treasury not otherwise appropriated for the purpose of reimbursing the town of North Kingstown. effective, etc. SEC. 4. This act shall take effect from and after This act when its passage and all acts and parts of acts inconsistent herewith are hereby repealed; provided, however, that if the town of North Kingstown shall have failed to pay to the general treasurer the sum of ten thousand dollars mentioned in section 1 of this act, on or before December 31st, 1923, then the amount herein appropriated shall revert to the general treasury for the use of the state. H 832. Mar. 30, 1923. Town of authorized to other purposes. Form of bonds, etc. CHAPTER 521. [2406] AN ACT AUTHORIZING THE TOWN OF NORTH PROVI- It is enacted by the General Assembly as follows: SECTION 1. The town of North Providence is hereby authorized and empowered to issue bonds under its corporate name and seal, in addition to the bonds heretofore authorized and outstanding, to an amount not exceeding $100,000.00. Said bonds shall be of a denomination of five hundred dollars each; shall bear interest at a rate not exceeding five per centum per annum, payable semi-annually; and shall be made payable at a time not exceeding forty years from the date of their issue. The principal and interest, on said bonds, shall be payable in gold coin of the United States, of the present standard of weight and fineness. The bonds shall be signed by the town treasurer and countersigned by the town clerk, and shall be obligatory upon the town, in the same manner, and to the same extent, as other debts lawfully contracted by it. They shall be in such form, and shall be sold at such time or times, and in such manner, as may be hereafter provided by vote of the town council of said town; and the proceeds of the sale thereof, shall be delivered to the town treasurer, and shall be applied and used, with the exception of any premiums derived from the sale of said bonds, for the erection, construction, finishing and equipment of new schoolhouses and school buildings in said town, and purchasing sites therefor, -any balance remaining, after said purposes shall have been fulfilled, to be applied to the payment of J' existing indebtedness of said town, other than its bonded indebtedness. SEC. 2. Said town shall annually appropriate, Interest and until said bonds are paid in full, a sum sufficient to pay the interest upon the bonds issued under the authority of this act, and a sum to be placed as a sinking fund, sufficient for the redemption of the bonds issued under the authority of this act, when, and as the same become due and payable; and all premiums arising from the sale of said bonds, shall be placed to the credit of said sinking fund, and all obligations of said town which may be created under the authority of this act, shall be excepted from the operation of section 22, chapter 47 of general laws of 1923. SEC. 3. No bonds shall be issued under the authority of this act, until and unless the electors of the town of North Providence, qualified to vote on any proposition to impose a tax, or for the expenditure of money, shall vote to accept this act when legally assembled in town meeting. SEC. 4. This act shall take effect immediately upon its passage, subject, nevertheless, to the provisions of section 3 hereof. CHAPTER 522. AN ACT RELATING TO THE DEBT LIMIT OF THE TOWN OF It is enacted by the General Assembly as follows: Provisions of accepted by this act to be electors before issue of bonds. H 813. of town of North SECTION 1. The limit of indebtedness provided by Limitin section 22 of chapter 47 of the general laws, shall Smithfield. for the town of North Smithfield be four per centum of the taxable property of said town. |
