Appendix 5.7. An Act to Authorize the City of Concord to Issue Water Works Bonds.

Section 1. Authority. The City of Concord is authorized to borrow on the credit of the City for the purpose of acquiring land, rights of way, and sources of an additional water supply and development of the same for water takers in the City of Concord for the erection of buildings and the purchase, acquisition, and installation of necessary pumps, electrical apparatus, machinery, and all other equipment essential or necessary for the pumping and purification of the additional water supply so developed and for the construction of such pipe lines as may be necessary, all in connection with the extension of its mains and system into the Town of Pembroke and including in such borrowing the reimbursement of the City treasury for expenditures already made in connection therewith, the sum not to exceed two hundred thousand dollars ($200,000) and to issue bonds of the City therefor, payable in annual payments so that the amount of the annual payment in any year shall not be less than the amount of the principal payable in any subsequent year, and the first payment shall be made not later than seven years after the date of the bonds, and the last payment shall be made not later than twenty years after the date of the bonds. Bonds issued hereunder shall, in all other respects, conform to the provisions of Chapter 59 of the Public Laws.

Section 2. Takes Effect. All Acts and parts of Acts inconsistent with this Act are hereby repealed, and this Act shall take effect upon its passage.

(Laws 1931, 253)