The Barre daily times. (Barre, Vt.) 1897-1959, 1910-10-25
CHARTER AMENDMENT.
Full Text Of Bill introduced for Barre
In the House.

Representative Cave Of this city in
trodnced in the Vermont House yester-
day afternoon, bill to amend the city
charter regarding the right of the city
/ to issue water bonds. The full text Of
the bill is as follows:
"The Town of Barre may borrow mon
/ ey and issue its orders, notes Or bonds
4 therefor for the purpose of funding any
debt assumed under this act or other
wise, and the city Of Barre snail have
power to issue its orders notes or bonds
Of said town and village of Barre, or Of
the Spaulding graded school district and
town district, included in the limits Of
said city, assumed by it under this act !;
but the entire indebtedness Of said city
shall not exceed six times its grand
list, exclusive Of the water debt, and
exclusive of deferred payments for inn
| provement assessments, as herein pro-
yided, and exclusive Of temporary in
debtedness incurred in anticipation of
taxes, but such temporary Indebtedness
shall not hear interest beyond the fiscal
year in which it was incurred.
And said city snail also have power
to issue its orders, notes or bonds for
the purpose Of refnnding or paying any
or all of the indebtedness of the city,
except the debt created in supplying
water, as in this act provided, which
said Debt and the authority for bonding
the same is herein otherwise provided
for But said notes, orders or bonds
shall not be issued for a period ex
ceeding twenty years from the date OF
issue. Said orders, notes Or bonds may
he issued by the authority of the legal
voters of the said city, granted at a
city meeting regularly called for that
purpose. The question of bonding shall
be submitted to vote By ballot; two
sets of ballots shall be used, on one
Of which shall be printed in clear type
the words, "for bonding,' and on the
other the words, against bonding A
majority vote shall be required to au-
thorize the issue of said orders, notes
or bonds; and the rate of interest and
length of the term or terms the bonds
OF notes are TO run shall be fixed by
the city council within the limits here
inbefore provided.
Said city shall also have power to
issue its orders, notes or bonds for sup
plying water as IN lh1S AeI authorized,
not exceeding the sum Of two hundred
and fifty thousand dollars (S250D00)
outstanding at any one time, with in
terest payable annually or semi-annual-
ly; five thousand dollars tS5,0OOl Of the
principal Of said orders, notes or bonds
50 issued, with interest on the whole
sum, shall annually be paid and the
orders, notes or bonds, so taken up and
retired cancelled. The issue Of the last
mentioned class of orders, notes or bonds
for supplying water shall be authorized
by the city and voted upon in the same
way as is provided in the case Of other
orders, notes or bonds. If bonds with
or without interest coupons are issued
by the city, all such bonds shall contain
on their face a statement of the pur-
pose for which they are issued; that
they are issued BY authority conferred
by this act, and the same shall be con
elusive evidence OF the fact of the liabil-
ity Of said city to any bona fde holder
thereof, and shall be signed by the
treasurer and the mayor.