The Birmingham age-herald., 1909-09-16

this State is or may be the owner of any electric light plant gas plant or water works plant, and the Board of Aldermen or other governing body of such city, town or municipal corpora ton deems it to be to the best inter- est of such city. town or municipal corporation. and the inhabitants thereof, to sell, lease, or dispose of such electric light plant gas plant or water works plant, such sale or disposition may be made as in this act provided
 Section ?. That before any sale, lease or disposition of an electric light plant, gas plant or water works plant of any city town or municipal corporation shall be made, the Board of Aldermen or other governing body shall pass a resolution declaring it to be in the Judgment of said Board of Aldermen or other govern ing body, 10 the best interests of the city, town or municipal corporation that the electric plant, gas plant or water works plant of such city, town or municipal corporation shall be sold, leased or dis posed of, to fix in the said resolution the minimum price at which the sale, lease or disposition should be had, and at or after the passage of said resolution, the said Board of Aldermen or other govern ing body shall order a special election to be held. at which all the voters of said city, town or municipal corporation, who are qualified voters under the laws of this State may vote on the proposition of whether such sale, lease or other disposi- ton of such electric plant. gas plant or water works plant shall be authorized Such election, if ordered by the resolu- ton of the Board of Aldermen or other governing body of the city, town mu- nicipal corpora ton shall be called by the Mayor of such city, town or municipal corporation to be held on the day fixed by the said resolution of the Board of Aldermen or other governing body of the city, town or other municipal col poration, which day shall not be less than thirty days from the date of the passage Of the said resolution ordering the election, and notice of election shall be given by ad- vertisement published at least once week for three consecutive weeks, in one or more newspapers published in the city, town or municipal corporation ownins the plant proposed to be sold or disposed of, and if there be no paper so published notices shall be posted at five or more public places in such city, town or nut nicipal corporation and same shall be
 
 county in which the city, town or mu- nicipal corporation is located. At the cleo tion so ordered all qualified voters under the laws of this state resident citizens of such city, town or municipal corpora tion, may vote. and the ballot shall be provided or furnished by the Board of Aldermen or other governing body, and the election shall be conducted in con formity to the laws of this State, ex- cept as herein otherwise provided. The managers, clerk and returning officers of the election shall be appointed, and the voting place shall be also designated by said Board of Aldermen or other govern ing body; the ballots shall have plainly printed on them the words Shall the electric plant, or gas plant or water works plant Gas the case may bel be sold leased or disposed of?" and following said words shall be Yes" and below that No with convenient space for the voter to place a cross mark before tne word express slve of his wish. The ballots shall be kept in sealed box, and at the conclu- sion of the election the box shall by the managers be forthwith turned over to the officers designated as 'the returning officers and shall by chem be safely and at once delivered to the Mayor of such city, town or municipal corporation, and within three days after such election the votes shall be canvassed and counted by the Board of Aldermen or other governing body of such city, town or municipal cor poration, and it shall declare the result. If the result of such election he in favor of sale. lease or disposition of the plant, the Board of Aldermen or other govern ing body of the city, town or municipal corporation may proceec 10 sell lease or dispose of the electric fight plant, gas plant or water works plant owned by such city, town or municipal corporation at price not less than the minimum price fixed as aforesaid, and upon such terms and time of payment as to the said Board of Aldermen or governing body may seem best. but if there be de- ferred payments the same must be se- cured by lien on the plant sold or dis posed of.
 Provided that if there is any bonded indebtedness existing which was incurred in the purchase or construction of such electric plant. gas plant or water works plant which is a lien epon the plant tho purchaser shall assume the payment of such bonded indebtedness.
 Section B. That this act shall be in force from and after it's approval by the Governor.
 Approved August 26 1903.
 Official.
 Frank N. Julian,
 Sacretary of State