The Birmingham age-herald., 1907-08-29

city council of it's decision as to such | paving or improvement and the material and estimated costs thereof Within thir- ty days after receiving such report the council shall act thereon and may ap- | prove the proposed expenditure or disap- prove the same, or may order that such | paving or improvement shall not be done at all, without further authority. or said council may, if in its judgment the pro- posed expenditure be excessive, fix an amount which shall not be exceeded by the board. If such expendituree be so limited by the council 1t shall be thee duty of the board to make further estimates for such paving or improvement, unless ft deems that the same cannot be judicious- ly done within such limit, and shall sub- init further report to the council, which shall be acted on as above provided, and this course shall be pursued until a pro- ject of the board for such paving or im- provement shall be fixed by the council or until limit of expenditure shall be fixed by said council, so low, that in the Judgment of the board 1t Is not judicous to do the paving or improvement with it.
 In that case the board shall enter It's decision or judgment upon It's records and shall not be required to proceed further as to such paving or improving, but it may at any time not less than thirty days after the entry of such judgment, take up again the matter of such paving or improving and submit a further report thereon to the council, upon which the same proceedings shall be had as herein before provided for. Whenever the ooun- eil shall approve any project for paEying or improving, it shall enter such approval upon It's minutes and give formal notice thereof to the board, which shall by formal resolution order that such paving or improving be done and paid for as pro- vided by ordinance. If necessary the council may thereupon provide for the issuance of bonds of the character here inbefore described and authorized to be used for such purpose in an amount suf- ficient to pay the costs of such paving or improvement. The proceeds for the sale of such bonds shall be kept separate and apart from the general funds of the city and subject to the order of the board of public works, to be used by it only for such paving and improving, and the sur plus. if any, for the redemption of said bonds issued therefor. Thereupon said board shall proceed to have such paving or improvement done.
 Sec 195. The municipal authorities of any city, or town in this State which may have outstanding a bonded indebtedness of any kind, are hereby authorized and empowered to settle, adjust and refund
 
 obtain, and in order to carry into effect the settlement. adjustment, and refunding of such bonded indebtedness, the mu- nicipal authorities of any sun corpora tons are authorized and empowered to issue bonds for such an amount as may be necessary to pay the indebtedness of such corporation, which 1t Is proposed to settle, adjust and refund and for no other pur- poses whatsoever, in such sum and form, and to run for such length of time, not ex- eeeding thirty years, and to bear such rate of interest, not to exceed five per centum payable annually, or semi-annu- ally, at such place as the municipal au- thorities may designate and may levy and collect in accordance with the constltu- tion and in the manner provided by law for general munI5 pal taxes, such tax as may be necessary upon the real and per sonal property, and all other subjects of taxation, in such corporation, to pay the interest and principal of such bonds, pro- vided, that the tax levied hereunder in any one year shall not exceed the consti- tutional limitation on the rate of taxation applicable to such city or town, and, provided further, that said bonTI shall not be sold at less than par, except upon vote in favor thereof of three-fourths of the members elected to the council of the governing body of the municipality, which vote shall be taken by yeas and nays and entered of record, and unless the written assent of the Mayor is filed and spread upon the minutes of the gov erning body.
 Sec. 196 Where the debt which it Is proposed to settle adjust or refund, Is secured in whole or in part by a lien, or deed of trust, upon any property belong ing to the municipality, such municipality Is authorized and empowered to make a new lien mortgage or deed of trust upon such property to secure the payment of such refunding bonds.
 Sec. 1o7. Any city or town issuing re- funding bonds hereunder Is hereby sub rogated and substituted to all of the rights and remedies prescribed in any local or special law heretofore enacted for tho protection of its stockholders. or con- ferred upon 1t or any trustee, and 1t may sue for and recover any taxes as other municipal taxes are collected or otherwise, or any moneys or property which such municipality or such trustee might have recovered under any special or local law heretofore enacted; provided, however, that the governing body of such munich pality may by appropriate ordinances or resolutions compromise and make set tlement of such delinquent taxes as may have accrued under any special or local law, upon such terms, and in such man. ner as may be deemed proper and to the best interests of such municipality, and all taxes levied for the year 1907 and prior thereto, by any and all officers of any municipality, acting under any local or special law authorizing the collection of taxes to pay interest on bonds to be refunded hereunder, are hereby in all things ratified and confirmed.
 Sec. 19S. Any member of the council who shall vote ,n favor of. or any mayor who shall approve any resolution or or dinance to apply the funds or any part thereof derived from such special tax to any other purpose than to the payment of such interest and principal of such bonds, may be impeacned in the manner hereein provided, and shall be guilty of a mis- demeanor, and upon conviction shall be imprisoned for not less than thirty days and for not more than six months. and may be fined in a sum of not less than $l00 nor more than $b00.
 Sec. 199 Any municipal corporation ex- isting under the laws of this state at the time of the passage of this act which shall desire to organize it's present city government under the provisions hereof at once may, by the passage of an or dinance by the governing body of such city or town stating that in the Judgment of such governing body, That it is for the best interest of such city or town to organize under this act, and that the city or town is hereby declared to be organ ized under the general municipal laws of Alabama, and at all tho then existing offices and officers of said city or town shall continue to exist and to hold such offices until the time fixed hereein for their term to expire as provided in sec tion two of this act' The then existing governing body shall proceed to elect such