Pine Bluff daily graphic. (Pine Bluff, Ark.) 1893-1942, 1911-06-04

to indictment therefor, and upon con-
viction thereof upon indictment shall
De subject to a fine of not less than
ten $4,000 dollars nor more than
One Thousand vi 100000 Dollars, and
shall be removed from office and
the court shall render a judgement of
removal from office in addition to the
penalty herein provided
SECTION 21. Suit may be brought
by and in the name of the board of
directors upon any bond executed
under this Act but the sum recover
| ed shall be for the use of the bridge
district.
| SECTION % For the purpose of
constructing, completing and main
tanning the improvments Contemplated
by this Act, and in order to enable
| the board of directors to further
carry cut the purpose of this Act,
the said board Of directors shall have
the power to borrow money, not ex-
ceeding the estimated cost of the i'm
provement herein contemplated at a
rate of interest not to exceed six
per cent per annum. and to that end
may issue negotiable bonds of said
district therefor with interest cou-
pons attached, ! payable in lawful
money Of the United States, at such
| time and place and in such denomi-
nations as the board may prescribe,
and said board may pledge all uncol-
lecled ass ssments and taxes here
IN provided for the payment of the
same. Said bonds to be made pava
Die, however, in a not longer period
than thirty years from the date there
OF. All issues of bonds may be
divided so that a portion thereof may
lnuture each y ar IS the assessments
are collected, or they may all be
maze payable 81 the same time with
proper provision for a sinking fund
| Sa1d bonds shall not be sold for less
tpan par eXcent by a majority y~4
! OF the board of directors.
+ SECTION %. That each and all of
| the bonds issued by the beard as
hereinbefore provided. shall he sipnea
oV the president and countersienoG
/ nF the secretary thereof. and no s1,oh
| bonds issued as aforesaid shall no
, Va!ld or binding or said hoard or
/ o'sfrlct until the same have been en-
j uotseo by the treasurer in writing
| mat he has duly registered s.i6
! ',oIos 10 the purchaser or owners
! ehefeof, as hereinbefore nrovida7
! upon such registry and endorsement
| by the treasurer said bonfYs jsbal1
s len ana not till then, be held as
f, ig545 executed, and shall thereupon
/ III
boaa t7 olidoie' Provided, that the
ooafo nay accept bids or Otherwise
contract Tor the sale of such bonds
| 10 purchasers before they are issued
/ OF registered as aforesaid Tba
treasurer OF said board shall keen
register showing the dates. ,1enorni
nations, number and place of NV
iiisn1' ard to whom issued or Maid
OF ny whom purchased, whether, for
o"Hi. OF On contract for labor. or far
N'1A oohe or performed, or other
~ loses, as heretofore provided here
,il'=ol al bonds so issued. and shall
ne the same kind OF account on
az ponds paid, received or taken IN
ny =ths board, showing when AMI n
nom payment was made, and from
"hem each bond was received or,
even up and on what account, and
~ ooi'a or coupon paid, reviewed ct
.@heA up by said board shall ao,ai,,
oe used or leissued, but every s,,oh
oond or coupon shall be cance1lod W.
.ne treasurer, and punched with an
! pose. p"i-
SECTION "a. The treasurer shot,
ENe Oh the original register bero;,
peio'e required to be kept by him
'he 1ac- OF payment. surrender Or
I"Aee!l'F-on OF each bond or counon
may take up, and the bonds or
! COUPON taken up by said treasurer
altef eancellaticA shall be preserved
| ~ nm as vouchers tin settlement
WIN me beard, after due allowance
u same IN settlement by said bca.d
sala coupons shall be burned and
DESTROYED by fhe president in the
ples'oencs OF the beard, and said can
celed bonds shall be preserved nv
'he beard as part of its records
SECTION %. All moneys bor
fowed or arising frcfn the negotia
'ion OF sale Ct any of said bonds
shall be paid in to the treasurer NJ
Snld hIrd rrH shall constitute a
orldse fund, to be used and .annliad
IN constructing and maintaining the
! improvements contemplated under tbis
ACT together with the expenses hero
m contemplated and for no ,other
purpose. "o'
eEC11ON 20. That the secretary
VI s4ld board shall upon order Of the
ooaru cause said bonds to be print
- or autographed with such do
vices for Identification and 70 nrs
vent imitation as such secretarv
"ay think proper, and he shat,
register said bonds in a book f., he
Kept for that purpose as the bonds
are issued, stating therein the date
number, denomination place Of nav
ment, and TO whom issued CIR sold
or upon what account issued, CT each
pond issued, and shall take "a recent
IN said book from the party to whom
sala bends are delivered
:. SECTION II. That to the nav
ment OF both principal and interest
or the bonds to be issued undar +bc