7 4TH CONGRESS . SESS. I. CH. 113. MAY 15, 1935 .
245 [CHAPTER 113 .] AN ACT 15 1933 To authori ze the c ity , of Ketchikan, Alaska, to iss ue bo nds in any sum not to
fH. MayR .16084 .1 . exceed $1,000,000 for the purpose of acquiring the electric light and power,
[Public, No.59.[ water, and telephone properties of the Citizens' Light, Power and Water Company, and to finance and operate the same, and validating the preliminary proceedings with respect thereto, and for other purposes . Be it enacted by the Senate and House o f Representatives o f the United State s o f America in Congress assembled, Th at the city of Bona iss;ie Alaska . Ketchikan, Alaska, is hereby authorized to issue and sell its bonds ized ; purpose. in any sum not to exceed $1,000,000 for the purpose of acquiring fo r the said c ity of Ketch ikan, electr ic lig ht, po wer, w ater, and te lephon e prop erties of th e Citi zens' Light, Power and W ater C om- pany, Incorporated, and to finance and operate the same by the said city of Ketchikan . The bonds herein authorized to be issued and sold Previous authority . are the bonds referred to in the Act entitled "An Act to authorize the incorporated town of Ketchikan, Alaska, to issue bonds in any su m not to exc eed $1 ,000,0 00 for the p urpose of ac quirin g publ ic- utility properties, and for other purposes ", approved July 3, 1930 (46 Stat . 1011), in which Act the said city of Ketchikan, Alaska, Vol . 46, p.1011 . was erroneously referred to as the "incorporated town of Ketchi- kan, Alaska ." Such bonds when issued shall be legal and valid in n»B Bonds deer ons . mu- all respects as general obligations of the said city of Ketchikan, Al aska, notwi thsta nding any d efects or i rregu lariti es in the s ub- mi ssion to a vote of the peop le of said city of the ques tion w ith respect to the issuance or sale of said bonds, in the ordinance call- ing the election, in the notice of election, in the form of ballot, in taking the vote, or in any of the proceedings had or taken in con- ne ction with the issua nce o r sa le of such bond s, an d all such proc eed- ings are hereby declared to be legal and valid, and the city is also Tao le vy authorized, authorized to levy any taxes which may be necessary for the pay- ment o f said bonds for which the full faith and credi t of the city shall be pledged . The revenues derived from said electric light, Rev enues ple dged . power, water, and telephone properties, over and above the expense of maintenance, operation, and depreciation reserve thereof, shall be pledged to the payment of principal and interest of said bonds . SEC . 2 . The bonds herein referred to and authorized to be issued R Bond ; form, mate » and sold shall be issued in such form and detail and with such maturities as have been or hereafter shall be determined by resolu- tion of the Common Council of the City of Ketchikan . Su ch bonds shall be issued in coupon form, registerable as to principal, or as to principal and interest . In case any of the officers whose Signatures . signatures or countersignatures appear on the bonds or coupons shall cease to be such officers before the delivery of such bonds to the purchaser, such signatures or countersignatures shall, neverthe- less, be valid and suffic ient for all pur poses, the same as if they had remained in office until delivery of the bonds . The proceeds of the eeeds of ra im ent of pr o» sale of such bonds shall be disbursed only for the purposes herein- before mentioned, and for which such bonds were authorized to be issued under the provisions of such Act of July 3, 1930 . SEC . 3 . The bonds herein authorized, when issued, are hereby gatio onds declare d obli- declared to be valid and legally binding obligations of said city of Ketchikan, Alaska . Approved, May 15, 1935 .
